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STOCKHOLDERS' EQUITY (Tables)

6 Months Ended

Jun. 30, 2022

Stockholders' Equity Note [Abstract]

Schedule of 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

Schedule of Other Comprehensive Income

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.

Schedule of 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

Schedule of Basic and Diluted Net Earnings (Loss) Per Share

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

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Tabular disclosure of changes in the separate accounts comprising stockholders' equity (in addition to retained earnings) and of the changes in the number of shares of equity securities during at least the most recent annual fiscal period and any subsequent interim period presented is required to make the financial statements sufficiently informative if both financial position and results of operations are presented.

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