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ACQUISITIONS AND DIVESTITURES (Tables)
 3 Months Ended
Mar. 31, 2023
Business Combination, Asset Acquisition, Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Disposal Groups, Including Discontinued Operations The following table presents the carrying amounts of the major classes of the disposal group's assets and liabilities as of March 31, 2023 and December 31, 2022, respectively.
Millions of dollarsMarch 31, 2023December 31, 2022
Carrying amounts of major classes of assets
Current Assets
Cash and cash equivalents$95 $94 
Accounts receivable, net of allowance of $33 and $32, respectively
792 667 
Inventories673 650 
Prepaid and other current assets128 145 
Total current assets$1,688 $1,556 
Property, net of accumulated depreciation of $1,666 and $1,648, respectively
$854 $822 
Right of use assets155 163 
Other intangibles, net of accumulated amortization of $144 and $141, respectively
282 279 
Deferred income taxes619 610 
Other noncurrent assets17 17 
Total noncurrent assets$1,927 $1,891 
Total assets$3,615 $3,447 
Carrying amounts of major classes of liabilities
Current liabilities
Accounts payable$1,336 $1,394 
Accrued expenses169 152 
Accrued advertising and promotions152 172 
Employee compensation117 107 
Notes payable6 3 
Other current liabilities111 125 
Total current liabilities$1,891 $1,953 
Noncurrent liabilities
Long-term debt$1 $2 
Pension benefits107 122 
Lease liabilities125 131 
Other noncurrent liabilities97 88 
Total noncurrent liabilities$330 $343 
Total liabilities$2,221 $2,296 
Total net assets of the disposal group classified as held for sale$1,394 $1,151 
Assets held for saleFair value of interest retained$143 $139 
Liabilities held for saleCumulative currency translation adjustment and Other comprehensive income on pension$461 $490 
The following table summarizes European major appliances business' earnings (loss) available to Whirlpool before income taxes for the three months ended March 31, 2023 and March 31, 2022 respectively:
Three Months Ended March 31,
in millions20232022
Earnings (loss) before income taxes$— $(30)
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The following table presents the preliminary allocation of purchase price related to the InSinkErator acquisition, as of March 31, 2023:
(in millions)Amount
Cash and cash equivalents$7 
Receivables, net74 
Inventories 93 
Other current assets 1 
Property, plant and equipment, net 174 
Goodwill1,151 
Other intangible assets 1,630 
Other assets11 
Accounts payable49 
Accrued expenses26 
Other current liabilities34 
Deferred income taxes1 
Other long-term liabilities10 
Total Estimated Purchase Consideration$3,021