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STOCKHOLDERS' EQUITY (Tables)

9 Months Ended

Sep. 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)						—						—						—						—
Balances, June 30, 2022						$	4,209					$	9,912					$	(2,090)					$	(3,900)					$	114					$	173
Comprehensive income
Net earnings (loss)						145						143						—						—						—						2
Other comprehensive income						151						—						151						—						—						—
Comprehensive income						296						143						151						—						—						2
Stock issued (repurchased)						(57)						—						—						(57)						—						—
Dividends declared						(97)						(95)						—						—						—						(2)
Balances, September 30, 2022						$	4,351					$	9,960					$	(1,939)					$	(3,957)					$	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
Comprehensive income
Net earnings						486						471						—						—						—						15
Other comprehensive income						46						—						47						—						—						(1)
Comprehensive income						532						471						47						—						—						14
Stock issued (repurchased)						(419)						—						—						(419)						—						—
Dividends declared						(88)						(86)						—						—						—						(2)
Acquisitions						$	19					$	—					$	—					$	—					$	—					$	19
Balances, September 30, 2021						$	5,129					$	9,957					$	(2,412)					$	(2,695)					$	114					$	165

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 September 30,
						2022												2021
Millions of dollars						Pre-tax			Tax Effect			Net						Pre-tax			Tax Effect			Net
Currency translation adjustments (1)						$	109		2			$	111					$	8		(2)			$	6
Cash flow hedges						28			8			36						50			(14)			36
Pension and other postretirement benefits plans						3			1			4						9			(5)			4
Other comprehensive income (loss)						140			11			151						67			(21)			46
Less: Other comprehensive income (loss) available to noncontrolling interests						—			—			—						(1)			—			(1)
Other comprehensive income (loss) available to Whirlpool						$	140		$	11		$	151					$	68		$	(21)		$	47

						Nine Months Ended September 30,
						2022												2021
Millions of dollars						Pre-tax			Tax Effect			Net						Pre-tax			Tax Effect			Net
Currency translation adjustments (1)						$	368		$	6		$	374					$	334		$	(1)		$	333
Cash flow hedges						29			9			38						58			(21)			37
Pension and other postretirement benefits plans						9			(3)			6						42			(13)			29
Other comprehensive income (loss)						406			12			418						434			(35)			399
Less: Other comprehensive income (loss) available to noncontrolling interests						—			—			—						—			—			—
Other comprehensive income (loss) available to Whirlpool						$	406		$	12		$	418					$	434		$	(35)		$	399

(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 nine months ended September 30, 2022:

Three Months Ended

Nine Months Ended

Millions of dollars

(Gain) Loss Reclassified

(Gain) Loss Reclassified

Classification in Earnings

Pension and postretirement benefits, pre-tax

$

5

$

17

Interest and sundry (income) expense

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 September 30,												Nine Months Ended September 30,
Millions of dollars and shares						2022						2021						2022						2021
Numerator for basic and diluted earnings per share - Net earnings (loss) available to Whirlpool						$	143					$	471					$	85					$	1,485
Denominator for basic earnings per share - weighted-average shares						54.7						62.2						56.3						62.7
Effect of dilutive securities - share-based compensation						0.3						0.5						0.4						0.5
Denominator for diluted earnings per share - adjusted weighted-average shares						55.0						62.7						56.7						63.2
Anti-dilutive stock options/awards excluded from earnings per share						0.7						0.1						0.5						0.1

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Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss).

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Tabular disclosure of components of comprehensive income (loss). Includes, but is not limited to, foreign currency translation adjustments, foreign currency transactions designated as economic hedges of a net investment in foreign entity, gain (loss) and prior service cost (credit) for pension plans and other postretirement benefit plans.

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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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