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SEGMENT INFORMATION | 9 Months Ended
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Sep. 30, 2022
Segment Reporting [Abstract] |
SEGMENT INFORMATION | SEGMENT INFORMATION Our reportable segments are based upon geographical region and are defined as North America, EMEA, Latin America and Asia. These regions also represent our operating segments. Each segment manufactures home appliances and related components, but serves strategically different marketplaces. The chief operating decision maker, who is the Company's Chairman and Chief Executive Officer, evaluates performance based on each segment's earnings (loss) before interest and taxes (EBIT), which we define as operating profit less interest and sundry (income) expense and excluding restructuring costs, asset impairment charges and certain other items that management believes are not indicative of the region's ongoing performance, if any. Total assets by segment are those assets directly associated with the respective operating activities. The "Other/Eliminations" column primarily includes corporate expenses, assets and eliminations, as well as restructuring costs, asset impairment charges and certain other items that management believes are not indicative of the region's ongoing performance, if any. Intersegment sales are eliminated within each region. The tables below summarize performance by operating segment for the periods presented:
|  | Three Months Ended September 30,
|  | OPERATING SEGMENTS
|  | North America |  | EMEA |  | Latin America |  | Asia |  | Other / Eliminations | Total Whirlpool
Net sales |  |  |  |  |  |  |  |  |  |  |
2022 |  | $ | 2,873 |  |  | $ | 903 |  |  | $ | 750 |  |  | $ | 258 |  |  | $ | — |  | $ | 4,784 |
2021 |  | 3,113 |  |  | 1,256 |  |  | 841 |  |  | 278 |  |  | — |  | 5,488 |
Intersegment sales |  |  |  |  |  |  |  |  |  |  |
2022 |  | $ | 65 |  |  | $ | 18 |  |  | $ | 380 |  |  | $ | 11 |  |  | $ | (474) |  | $ | — |
2021 |  | 89 |  |  | 30 |  |  | 327 |  |  | 47 |  |  | (493) |  | — |
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |
2022 |  | $ | 42 |  |  | $ | 41 |  |  | $ | 17 |  |  | $ | 4 |  |  | $ | 14 |  | $ | 118 |
2021 |  | 43 |  |  | 39 |  |  | 17 |  |  | 4 |  |  | 16 |  | 119 |
EBIT |  |  |  |  |  |  |  |  |  |  |
2022 |  | $ | 282 |  |  | $ | (28) |  |  | $ | 40 |  |  | $ | 12 |  |  | $ | (68) |  | $ | 238 |
2021 |  | 553 |  |  | 28 |  |  | 73 |  |  | 24 |  |  | (48) |  | 630 |
Total assets |  |  |  |  |  |  |  |  |  |  |
September 30, 2022 |  | $ | 8,162 |  |  | $ | 8,169 |  |  | $ | 4,618 |  |  | $ | 1,500 |  |  | $ | (4,938) |  | $ | 17,511 |
December 31, 2021 |  | 7,980 |  |  | 10,210 |  |  | 4,716 |  |  | 1,565 |  |  | (4,186) |  | 20,285 |
Capital expenditures |  |  |  |  |  |  |  |  |  |  |
2022 |  | $ | 35 |  |  | $ | 27 |  |  | $ | 32 |  |  | $ | 6 |  |  | $ | 17 |  | $ | 117 |
2021 |  | 42 |  |  | 31 |  |  | 34 |  |  | 6 |  |  | 9 |  | 122 |
|  | Nine Months Ended September 30,
|  | OPERATING SEGMENTS
|  | North America |  | EMEA |  | Latin America |  | Asia |  | Other / Eliminations | Total Whirlpool
Net sales |  |  |  |  |  |  |  |  |  |  |
2022 |  | $ | 8,629 |  |  | $ | 2,995 |  |  | $ | 2,297 |  |  | $ | 880 |  |  | $ | — |  | $ | 14,801 |
2021 |  | 9,200 |  |  | 3,676 |  |  | 2,336 |  |  | 958 |  |  | — |  | 16,170 |
Intersegment sales |  |  |  |  |  |  |  |  |  |  |
2022 |  | $ | 228 |  |  | $ | 66 |  |  | $ | 1,143 |  |  | $ | 33 |  |  | $ | (1,470) |  | $ | — |
2021 |  | 244 |  |  | 76 |  |  | 950 |  |  | 239 |  |  | (1,509) |  | — |
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |
2022 |  | $ | 127 |  |  | $ | 111 |  |  | $ | 49 |  |  | $ | 14 |  |  | $ | 43 |  | $ | 344 |
2021 |  | 132 |  |  | 129 |  |  | 48 |  |  | 22 |  |  | 47 |  | 378 |
EBIT |  |  |  |  |  |  |  |  |  |  |
2022 |  | $ | 1,153 |  |  | $ | (53) |  |  | $ | 151 |  |  | $ | 48 |  |  | $ | (884) |  | $ | 415 |
2021 |  | 1,716 |  |  | 80 |  |  | 209 |  |  | 50 |  |  | (62) |  | 1,993 |
Total assets |  |  |  |  |  |  |  |  |  |  |
September 30, 2022 |  | $ | 8,162 |  |  | $ | 8,169 |  |  | $ | 4,618 |  |  | $ | 1,500 |  |  | $ | (4,938) |  | 17,511 |
December 31, 2021 |  | 7,980 |  |  | 10,210 |  |  | 4,716 |  |  | 1,565 |  |  | (4,186) |  | 20,285 |
Capital expenditures |  |  |  |  |  |  |  |  |  |  |
2022 |  | $ | 104 |  |  | $ | 62 |  |  | $ | 93 |  |  | $ | 23 |  |  | $ | 52 |  | $ | 334 |
2021 |  | 107 |  |  | 78 |  |  | 77 |  |  | 18 |  |  | 26 |  | 306 |
The following table summarizes the reconciling items in the Other/Eliminations column for total EBIT for the periods presented:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
in millions | 2022 | 2021 |  | 2022 | 2021
Items not allocated to segments: |  |  |  |  |
Restructuring charges | (3) |  | $ | (7) |  |  | (13) |  | $ | (35) |
Gain (loss) on previously held equity interest | — |  | 42 |  |  | — |  | 42 |
Impairment of goodwill and other intangibles | — |  | — |  |  | (384) |  | — |
(Gain) loss on disposal of businesses | (2) |  | (13) |  |  | (348) |  | 105 |
Corporate expenses and other | (63) |  | (70) |  |  | (139) |  | (174) |
Total other/eliminations | $ | (68) |  | $ | (48) |  |  | $ | (884) |  | $ | (62) |
A reconciliation of our segment information for total EBIT to the corresponding amounts in the Consolidated Condensed Statements of Comprehensive Income (Loss) is shown in the table below for the periods presented:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
in millions |  | 2022 | 2021 |  | 2022 | 2021
Operating profit |  | $ | 221 |  | $ | 552 |  |  | $ | 376 |  | $ | 1,854 |
Interest and sundry (income) expense |  | (19) |  | (78) |  |  | (45) |  | (139) |
Equity method investment income (loss), net of tax |  | (2) |  | — |  |  | (6) |  | — |
Total EBIT |  | $ | 238 |  | $ | 630 |  |  | $ | 415 |  | $ | 1,993 |
Interest expense |  | 40 |  | 44 |  |  | 126 |  | 134 |
Income tax expense |  | 53 |  | 100 |  |  | 196 |  | 353 |
Net earnings (loss) |  | $ | 145 |  | $ | 486 |  |  | $ | 93 |  | $ | 1,506 |
Less: Net earnings available to noncontrolling interests |  | 2 |  | 15 |  |  | 8 |  | 21 |
Net earnings (loss) available to Whirlpool |  | $ | 143 |  | $ | 471 |  |  | $ | 85 |  | $ | 1,485 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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