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STOCKHOLDERS' EQUITY
9 Months Ended
Sep. 30, 2023
Stockholders' Equity Note [Abstract]  
STOCKHOLDERS' EQUITY STOCKHOLDERS' EQUITY
The following table summarizes the changes in stockholders' equity for the periods presented:
  Whirlpool Stockholders' Equity 
 TotalRetained
Earnings
Accumulated Other Comprehensive Income (Loss)Treasury Stock / Additional Paid-In-CapitalCommon
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 
Comprehensive income
Net earnings (loss)85 83    2 
Other comprehensive income 55  55    
Comprehensive income140 83 55   2 
Stock issued (repurchased)4   4   
Dividends declared(97)(96)   (1)
Balances, September 30, 2023$2,240 $7,961 $(2,075)$(3,936)$114 $176 
  Whirlpool Stockholders' Equity 
 TotalRetained
Earnings
Accumulated Other Comprehensive Income (Loss)Treasury Stock / Additional Paid-In-CapitalCommon
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 — — — 
Other comprehensive income58 — 58 — — — 
Comprehensive income (loss)374 313 58 — — 
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)— — — 
Other comprehensive income209 — 209 — — — 
Comprehensive income (loss)(159)(371)209 — — 
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 earnings145 143 — — — 
Other comprehensive income151 — 151 — — — 
Comprehensive income296 143 151 — — 
Stock issued (repurchased)(57)— — (57)— — 
Dividends declared(97)(95)— — — (2)
Balances, September 30, 2022$4,351 $9,960 $(1,939)$(3,957)$114 $173 
Other Comprehensive Income (Loss)
The following table summarizes our other comprehensive income (loss) and related tax effects for the periods presented:
Three Months Ended September 30,
20232022
Millions of dollarsPre-taxTax EffectNetPre-taxTax EffectNet
Currency translation adjustments$16 $ $16 $109 $$111 
Cash flow hedges52 (13)39 28 36 
Pension and other postretirement benefits plans   
Other comprehensive income (loss)68 (13)55 140 11 151 
Less: Other comprehensive income (loss) available to noncontrolling interests   — — — 
Other comprehensive income (loss) available to Whirlpool$68 $(13)$55 $140 $11 $151 
Nine Months Ended September 30,
20232022
Millions of dollarsPre-taxTax EffectNetPre-taxTax EffectNet
Currency translation adjustments$43 $ $43 $368 $$374 
Cash flow hedges(39)9 (30)29 38 
Pension and other postretirement benefits plans2  2 (3)
Other comprehensive income (loss)6 9 15 406 12 418 
Less: Other comprehensive income (loss) available to noncontrolling interests   — — — 
Other comprehensive income (loss) available to Whirlpool$6 $9 $15 $406 $12 $418 
Reclassifications Out of Accumulated Other Comprehensive Income (Loss)
There were no material net impacts of the reclassification adjustments out of accumulated other comprehensive income (loss) included in net earnings (loss) for the three and nine months ended September 30, 2023.
Net earnings (loss) per Share
Diluted net earnings (loss) per share of common stock include the dilutive effect of stock options and other share-based compensation plans. 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 shares2023202220232022
Numerator for basic and diluted earnings per share - Net earnings (loss) available to Whirlpool$83 $143 $(10)$85 
Denominator for basic earnings per share - weighted-average shares55.0 54.7 54.9 56.3 
Effect of dilutive securities - share-based compensation0.3 0.3  0.4 
Denominator for diluted earnings per share - adjusted weighted-average shares55.3 55.0 54.9 56.7 
Anti-dilutive stock options/awards excluded from earnings per share1.0 0.7 1.0 0.5 
Share Repurchase Program
On April 19, 2021, our Board of Directors authorized a share repurchase program of up to $2 billion, which has no expiration date. On February 14, 2022, the Board of Directors authorized an additional $2 billion in share repurchases under the Company's ongoing share repurchase program. During the nine months ended September 30, 2023, we did not repurchase any shares under these share repurchase programs. At September 30, 2023, there were approximately $2.6 billion in remaining funds authorized under this program.
Share repurchases are made from time to time on the open market as conditions warrant. The programs do not obligate us to repurchase any of our shares and have no expiration date.