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SEGMENT INFORMATION | 9 Months Ended
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Sep. 30, 2023
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 |  |  |  |  |  |  |  |  |  |  |  |
2023 |  | $ | 2,977 |  |  | $ | 863 |  |  | $ | 857 |  |  | $ | 229 |  |  | $ | — |  |  | $ | 4,926 |
2022 |  | 2,873 |  |  | 903 |  |  | 750 |  |  | 258 |  |  | — |  |  | 4,784 |
Intersegment sales |  |  |  |  |  |  |  |  |  |  |  |
2023 |  | $ | 59 |  |  | $ | 18 |  |  | $ | 408 |  |  | $ | 11 |  |  | $ | (496) |  |  | $ | — |
2022 |  | 65 |  |  | 18 |  |  | 380 |  |  | 11 |  |  | (474) |  |  | — |
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |  |
2023 |  | $ | 48 |  |  | $ | 1 |  |  | $ | 18 |  |  | $ | 5 |  |  | $ | 12 |  |  | $ | 84 |
2022 |  | 42 |  |  | 41 |  |  | 17 |  |  | 4 |  |  | 14 |  |  | 118 |
EBIT |  |  |  |  |  |  |  |  |  |  |  |
2023 |  | $ | 298 |  |  | $ | 1 |  |  | $ | 54 |  |  | $ | 5 |  |  | $ | (92) |  |  | $ | 266 |
2022 |  | 282 |  |  | (28) |  |  | 40 |  |  | 12 |  |  | (68) |  |  | 238 |
Total assets |  |  |  |  |  |  |  |  |  |  |  |
September 30, 2023 |  | $ | 11,315 |  |  | $ | 1,967 |  |  | $ | 4,757 |  |  | $ | 1,534 |  |  | $ | (2,684) |  |  | $ | 16,889 |
December 31, 2022 |  | 10,913 |  |  | 5,240 |  |  | 4,343 |  |  | 1,516 |  |  | (4,888) |  |  | 17,124 |
Capital expenditures |  |  |  |  |  |  |  |  |  |  |  |
2023 |  | $ | 43 |  |  | $ | 22 |  |  | $ | 36 |  |  | $ | 2 |  |  | $ | 18 |  |  | $ | 121 |
2022 |  | 35 |  |  | 27 |  |  | 32 |  |  | 6 |  |  | 17 |  |  | 117 |
|  | Nine Months Ended September 30,
|  | OPERATING SEGMENTS
|  | North America |  | EMEA |  | Latin America |  | Asia |  | Other / Eliminations |  | Total Whirlpool
Net sales |  |  |  |  |  |  |  |  |  |  |  |
2023 |  | $ | 8,547 |  |  | $ | 2,606 |  |  | $ | 2,434 |  |  | $ | 780 |  |  | $ | — |  |  | $ | 14,367 |
2022 |  | 8,629 |  |  | 2,995 |  |  | 2,297 |  |  | 880 |  |  | — |  |  | 14,801 |
Intersegment sales |  |  |  |  |  |  |  |  |  |  |  |
2023 |  | $ | 167 |  |  | $ | 62 |  |  | $ | 1,161 |  |  | $ | 31 |  |  | $ | (1,421) |  |  | $ | — |
2022 |  | 228 |  |  | 66 |  |  | 1,143 |  |  | 33 |  |  | (1,470) |  |  | — |
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |  |
2023 |  | $ | 151 |  |  | $ | 1 |  |  | $ | 52 |  |  | $ | 16 |  |  | $ | 42 |  |  | $ | 262 |
2022 |  | 127 |  |  | 111 |  |  | 49 |  |  | 14 |  |  | 43 |  |  | 344 |
EBIT |  |  |  |  |  |  |  |  |  |  |  |
2023 |  | $ | 862 |  |  | $ | 23 |  |  | $ | 146 |  |  | $ | 25 |  |  | $ | (533) |  |  | $ | 523 |
2022 |  | 1,153 |  |  | (53) |  |  | 151 |  |  | 48 |  |  | (884) |  |  | 415 |
Total assets |  |  |  |  |  |  |  |  |  |  |  |
September 30, 2023 |  | $ | 11,315 |  |  | $ | 1,967 |  |  | $ | 4,757 |  |  | $ | 1,534 |  |  | $ | (2,684) |  |  | $ | 16,889 |
December 31, 2022 |  | 10,913 |  |  | 5,240 |  |  | 4,343 |  |  | 1,516 |  |  | (4,888) |  |  | 17,124 |
Capital expenditures |  |  |  |  |  |  |  |  |  |  |  |
2023 |  | $ | 139 |  |  | $ | 63 |  |  | $ | 81 |  |  | $ | 6 |  |  | $ | 49 |  |  | $ | 338 |
2022 |  | 104 |  |  | 62 |  |  | 93 |  |  | 23 |  |  | 52 |  |  | 334 |
Assets of $3.4 billion and $3.4 billion associated with our European major domestic appliance business has been classified as assets held for sale and recorded at fair value less costs to sell at September 30, 2023 and December 31, 2022, respectively. Temporary fluctuations in regional assets are expected throughout the remainder of 2023 due to intercompany activity required by the expected contribution of the European major domestic appliance business. These changes are eliminated at the total entity level. See Note 13 to the Consolidated Condensed Financial Statements for additional information on the transaction. 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 | 2023 | 2022 |  | 2023 | 2022
Items not allocated to segments: |  |  |  |  |
Restructuring charges | $ | (5) |  | $ | (3) |  |  | $ | (14) |  | $ | (13) |
Legacy EMEA legal matters | — |  | — |  |  | (98) |  | — |
Impairment of goodwill and other intangibles | — |  | — |  |  | — |  | (384) |
Gain (loss) on sale and disposal of businesses | (46) |  | (2) |  |  | (286) |  | (348) |
Corporate expenses and other | (41) |  | (63) |  |  | (135) |  | (139) |
Total other/eliminations | $ | (92) |  | $ | (68) |  |  | $ | (533) |  | $ | (884) |
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 |  | 2023 | 2022 |  | 2023 | 2022
Operating profit |  | $ | 257 |  | $ | 221 |  |  | $ | 603 |  | $ | 376 |
Interest and sundry (income) expense |  | (10) |  | (19) |  |  | 77 |  | (45) |
Equity method investment income (loss), net of tax |  | (1) |  | (2) |  |  | (3) |  | (6) |
Total EBIT |  | $ | 266 |  | $ | 238 |  |  | $ | 523 |  | $ | 415 |
Interest expense |  | 95 |  | 40 |  |  | 259 |  | 126 |
Income tax expense |  | 86 |  | 53 |  |  | 268 |  | 196 |
Net earnings (loss) |  | $ | 85 |  | $ | 145 |  |  | $ | (4) |  | $ | 93 |
Less: Net earnings available to noncontrolling interests |  | 2 |  | 2 |  |  | 6 |  | 8 |
Net earnings (loss) available to Whirlpool |  | $ | 83 |  | $ | 143 |  |  | $ | (10) |  | $ | 85 |

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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 -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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