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STOCKHOLDERS' EQUITY | 6 Months Ended
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Jun. 30, 2022
Stockholders' Equity Note [Abstract] |
STOCKHOLDERS' EQUITY | STOCKHOLDERS' EQUITY The following table summarizes the changes in stockholders' equity for the periods presented:
|  |  |  | Whirlpool Stockholders' Equity |  |
|  | Total |  | Retained Earnings |  | Accumulated Other Comprehensive Income (Loss) |  | Treasury Stock / Additional Paid-In-Capital |  | Common Stock |  | Non-Controlling Interest
Balances, December 31, 2021 |  | $ | 5,013 |  |  | $ | 10,170 |  |  | $ | (2,357) |  |  | $ | (3,081) |  |  | $ | 114 |  |  | $ | 167 |
Comprehensive income (loss) |  |  |  |  |  |  |  |  |  |  |  |
Net earnings (loss) |  | 316 |  |  | 313 |  |  |  |  | — |  |  | — |  |  | 3 |
Other comprehensive income |  | 58 |  |  | — |  |  | 58 |  |  | — |  |  | — |  |  | — |
Comprehensive income (loss) |  | 374 |  |  | 313 |  |  | 58 |  |  | — |  |  | — |  |  | 3 |
Stock issued (repurchased) |  | (539) |  |  | — |  |  | — |  |  | (539) |  |  | — |  |  | — |
Dividends declared |  | (103) |  |  | (103) |  |  | — |  |  | — |  |  | — |  |  | — |
Balances, March 31, 2022 |  | 4,745 |  |  | 10,380 |  |  | (2,299) |  |  | (3,620) |  |  | 114 |  |  | 170 |
Comprehensive income (loss) |  |  |  |  |  |  |  |  |  |  |  |
Net earnings (loss) |  | (368) |  |  | (371) |  |  | — |  |  | — |  |  | — |  |  | 3 |
Other comprehensive income |  | 209 |  |  | — |  |  | 209 |  |  | — |  |  | — |  |  |
Comprehensive income (loss) |  | (159) |  |  | (371) |  |  | 209 |  |  | — |  |  | — |  |  | 3 |
Stock issued (repurchased) |  | (280) |  |  | — |  |  | — |  |  | (280) |  |  |  |  | — |
Dividends declared |  | (97) |  |  | (97) |  |  | — |  |  | — |  |  | — |  |  | — |
Divestitures |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Balances, June 30, 2022 |  | $ | 4,209 |  |  | $ | 9,912 |  |  | $ | (2,090) |  |  | $ | (3,900) |  |  | $ | 114 |  |  | $ | 173 |
|  |  |  | Whirlpool Stockholders' Equity |  |
|  | Total |  | Retained Earnings |  | Accumulated Other Comprehensive Income (Loss) |  | Treasury Stock / Additional Paid-In-Capital |  | Common Stock |  | Non-Controlling Interest
Balances, December 31, 2020 |  | $ | 4,795 |  |  | $ | 8,725 |  |  | $ | (2,811) |  |  | $ | (2,142) |  |  | $ | 113 |  |  | $ | 910 |
Comprehensive income (loss) |  |  |  |  |  |  |  |  |  |  |  |
Net earnings (loss) |  | 440 |  |  | 433 |  |  | — |  |  | — |  |  | — |  |  | 7 |
Other comprehensive income |  | 124 |  |  | — |  |  | 124 |  |  | — |  |  | — |  |  | — |
Comprehensive income (loss) |  | 564 |  |  | 433 |  |  | 124 |  |  | — |  |  | — |  |  | 7 |
Stock issued (repurchased) |  | (141) |  |  | — |  |  | — |  |  | (141) |  |  | — |  |  | — |
Dividends declared |  | (79) |  |  | (79) |  |  | — |  |  | — |  |  | — |  |  | — |
Balances, March 31, 2021 |  | $ | 5,139 |  |  | $ | 9,079 |  |  | $ | (2,687) |  |  | $ | (2,283) |  |  | $ | 113 |  |  | $ | 917 |
Comprehensive income (loss) |  |  |  |  |  |  |  |  |  |  |  |
Net earnings (loss) |  | 580 |  |  | 581 |  |  | — |  |  | — |  |  | — |  |  | (1) |
Other comprehensive income |  | 229 |  |  | — |  |  | 228 |  |  | — |  |  | — |  |  | 1 |
Comprehensive income (loss) |  | 809 |  |  | 581 |  |  | 228 |  |  | — |  |  | — |  |  | — |
Stock issued (repurchased) |  | 8 |  |  | — |  |  | — |  |  | 7 |  |  | 1 |  |  | — |
Dividends declared |  | (88) |  |  | (88) |  |  | — |  |  | — |  |  | — |  |  | — |
Divestitures |  | (783) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (783) |
Balances, June 30, 2021 |  | $ | 5,085 |  |  | $ | 9,572 |  |  | $ | (2,459) |  |  | $ | (2,276) |  |  | $ | 114 |  |  | $ | 134 |
Other Comprehensive Income (Loss) The following table summarizes our other comprehensive income (loss) and related tax effects for the periods presented:
|  | Three Months Ended June 30,
|  | 2022 |  | 2021
Millions of dollars |  | Pre-tax | Tax Effect | Net |  | Pre-tax | Tax Effect | Net
Currency translation adjustments (1) |  | $ | 153 |  | 1 |  | $ | 154 |  |  | $ | 219 |  | 5 |  | $ | 224 |
Cash flow hedges |  | 58 |  | (18) |  | 40 |  |  | (18) |  | 6 |  | (12) |
Pension and other postretirement benefits plans |  | 21 |  | (6) |  | 15 |  |  | 23 |  | (6) |  | 17 |
Other comprehensive income (loss) |  | 232 |  | (23) |  | 209 |  |  | 224 |  | 5 |  | 229 |
Less: Other comprehensive income (loss) available to noncontrolling interests |  | — |  | — |  | — |  |  | 1 |  | — |  | 1 |
Other comprehensive income (loss) available to Whirlpool |  | $ | 232 |  | $ | (23) |  | $ | 209 |  |  | $ | 223 |  | $ | 5 |  | $ | 228 |
|  | Six Months Ended June 30,
|  | 2022 |  | 2021
Millions of dollars |  | Pre-tax | Tax Effect | Net |  | Pre-tax | Tax Effect | Net
Currency translation adjustments (1) |  | $ | 258 |  | $ | 4 |  | $ | 262 |  |  | $ | 327 |  | $ | (1) |  | $ | 326 |
Cash flow hedges |  | 1 |  | 1 |  | 2 |  |  | 8 |  | (6) |  | 2 |
Pension and other postretirement benefits plans |  | 6 |  | (4) |  | 2 |  |  | 33 |  | (8) |  | 25 |
Other comprehensive income (loss) |  | 265 |  | 1 |  | 266 |  |  | 368 |  | (15) |  | 353 |
Less: Other comprehensive income (loss) available to noncontrolling interests |  | — |  | — |  | — |  |  | 1 |  | — |  | 1 |
Other comprehensive income (loss) available to Whirlpool |  | $ | 265 |  | $ | 1 |  | $ | 266 |  |  | $ | 367 |  | $ | (15) |  | $ | 352 |
(1) Currency translation adjustments includes net investment hedges. Reclassifications Out of Accumulated Other Comprehensive Income (Loss) The following table provides the reclassification adjustments out of accumulated other comprehensive income (loss), by component, which was included in net earnings (loss) for the three and six months ended June 30, 2022:
| Three Months Ended |  | Six Months Ended |  |
Millions of dollars | (Gain) Loss Reclassified |  | (Gain) Loss Reclassified | Classification in Earnings |
Pension and postretirement benefits, pre-tax | $ | 7 |  |  | $ | 12 |  | Interest and sundry (income) expense |
Total | $ | 7 |  |  | $ | 12 |  |  |
Net earnings (loss) per Share Diluted net earnings (loss) per share of common stock include the dilutive effect of stock options and other share-based compensation plans. Basic and diluted net earnings (loss) per share of common stock for the periods presented were calculated as follows:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
Millions of dollars and shares |  | 2022 |  | 2021 |  | 2022 |  | 2021
Numerator for basic and diluted earnings per share - Net earnings (loss) available to Whirlpool |  | $ | (371) |  |  | $ | 581 |  |  | $ | (58) |  |  | $ | 1,014 |
Denominator for basic earnings per share - weighted-average shares |  | 56.0 |  |  | 62.9 |  |  | 57.1 |  |  | 63.0 |
Effect of dilutive securities - share-based compensation |  | — |  |  | 0.6 |  |  | — |  |  | 0.5 |
Denominator for diluted earnings per share - adjusted weighted-average shares |  | 56.0 |  |  | 63.5 |  |  | 57.1 |  |  | 63.5 |
Anti-dilutive stock options/awards excluded from earnings per share |  | 0.6 |  |  | 0.1 |  |  | 0.5 |  |  | 0.1 |
Share Repurchase Program On April 19, 2021, our Board of Directors authorized a share repurchase program of up to $2 billion, which has no expiration date. On February 14, 2022, the Board of Directors authorized an additional $2 billion in share repurchases under the Company's ongoing share repurchase program. During the six months ended June 30, 2022, we repurchased approximately 4.4 million shares under these share repurchase programs at an aggregate price of approximately $833 million. At June 30, 2022, there were approximately $2.7 billion in remaining funds authorized under this program. Share repurchases are made from time to time on the open market as conditions warrant. The programs do not obligate us to repurchase any of our shares and have no expiration date.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI https://asc.fasb.org/topic&trid=2208762 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI https://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (g) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (h) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 16 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496180-112644 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (i) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 40 -Section 50 -Paragraph 6 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126731327&loc=SL126733271-114008 + Details
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