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STOCKHOLDERS' EQUITY (Tables) | 6 Months Ended
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Jun. 30, 2023
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, 2022 |  | $ | 2,506 |  |  | $ | 8,261 |  |  | $ | (2,090) |  |  | $ | (3,949) |  |  | $ | 114 |  |  | $ | 170 |
Comprehensive income (loss) |  |  |  |  |  |  |  |  |  |  |  |
Net earnings (loss) |  | (176) |  |  | (179) |  |  | — |  |  | — |  |  | — |  |  | 3 |
Other comprehensive income |  | (1) |  |  | — |  |  | (1) |  |  | — |  |  | — |  |  | — |
Comprehensive income (loss) |  | (177) |  |  | (179) |  |  | (1) |  |  | — |  |  | — |  |  | 3 |
Stock issued (repurchased) |  | 2 |  |  | — |  |  | — |  |  | 2 |  |  | — |  |  | — |
Dividends declared |  | (97) |  |  | (97) |  |  | — |  |  | — |  |  | — |  |  | — |
Balances, March 31, 2023 |  | $ | 2,234 |  |  | $ | 7,985 |  |  | $ | (2,091) |  |  | $ | (3,947) |  |  | $ | 114 |  |  | $ | 173 |
Comprehensive income (loss) |  |  |  |  |  |  |  |  |  |  |  |
Net earnings (loss) |  | 87 |  |  | 85 |  |  | — |  |  | — |  |  | — |  |  | 2 |
Other comprehensive income |  | (39) |  |  | — |  |  | (39) |  |  | — |  |  | — |  |  |
Comprehensive income (loss) |  | 48 |  |  | 85 |  |  | (39) |  |  | — |  |  | — |  |  | 2 |
Stock issued (repurchased) |  | 7 |  |  | — |  |  | — |  |  | 7 |  |  |  |  | — |
Dividends declared |  | (96) |  |  | (96) |  |  | — |  |  | — |  |  | — |  |  | — |
Balances, June 30, 2023 |  | $ | 2,193 |  |  | $ | 7,974 |  |  | $ | (2,130) |  |  | $ | (3,940) |  |  | $ | 114 |  |  | $ | 175 |
|  |  |  | 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 |
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,
|  | 2023 |  | 2022
Millions of dollars |  | Pre-tax | Tax Effect | Net |  | Pre-tax | Tax Effect | Net
Currency translation adjustments |  | $ | 27 |  | — |  | $ | 27 |  |  | $ | 153 |  | 1 |  | $ | 154 |
Cash flow hedges |  | (75) |  | 18 |  | (57) |  |  | 58 |  | (18) |  | 40 |
Pension and other postretirement benefits plans |  | (11) |  | 2 |  | (9) |  |  | 21 |  | (6) |  | 15 |
Other comprehensive income (loss) |  | (59) |  | 20 |  | (39) |  |  | 232 |  | (23) |  | 209 |
Less: Other comprehensive income (loss) available to noncontrolling interests |  | — |  | — |  | — |  |  | — |  | — |  | — |
Other comprehensive income (loss) available to Whirlpool |  | $ | (59) |  | $ | 20 |  | $ | (39) |  |  | $ | 232 |  | $ | (23) |  | $ | 209 |
|  | Six Months Ended June 30,
|  | 2023 |  | 2022
Millions of dollars |  | Pre-tax | Tax Effect | Net |  | Pre-tax | Tax Effect | Net
Currency translation adjustments |  | $ | 26 |  | — |  | $ | 26 |  |  | $ | 258 |  | 4 |  | $ | 262 |
Cash flow hedges |  | (91) |  | 23 |  | (68) |  |  | 1 |  | 1 |  | 2 |
Pension and other postretirement benefits plans |  | 2 |  | — |  | 2 |  |  | 6 |  | (4) |  | 2 |
Other comprehensive income (loss) |  | (63) |  | 23 |  | (40) |  |  | 265 |  | 1 |  | 266 |
Less: Other comprehensive income (loss) available to noncontrolling interests |  | — |  | — |  | — |  |  | — |  | — |  | — |
Other comprehensive income (loss) available to Whirlpool |  | $ | (63) |  | $ | 23 |  | $ | (40) |  |  | $ | 265 |  | $ | 1 |  | $ | 266 |
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 |  | 2023 |  | 2022 |  | 2023 |  | 2022
Numerator for basic and diluted earnings per share - Net earnings (loss) available to Whirlpool |  | $ | 85 |  |  | $ | (371) |  |  | $ | (94) |  |  | $ | (58) |
Denominator for basic earnings per share - weighted-average shares |  | 55.0 |  |  | 56.0 |  |  | 54.9 |  |  | 57.1 |
Effect of dilutive securities - share-based compensation |  | 0.2 |  |  | — |  |  | — |  |  | — |
Denominator for diluted earnings per share - adjusted weighted-average shares |  | 55.2 |  |  | 56.0 |  |  | 54.9 |  |  | 57.1 |
Anti-dilutive stock options/awards excluded from earnings per share |  | 1.2 |  |  | 0.6 |  |  | 1.0 |  |  | 0.5 |

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