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ACQUISITIONS AND DIVESTITURES (Tables)
 9 Months Ended
Sep. 30, 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 September 30, 2023 and December 31, 2022, respectively.
Millions of dollarsSeptember 30, 2023December 31, 2022
Carrying amounts of major classes of assets
Current Assets
Cash and cash equivalents$89 $94 
Accounts receivable, net of allowance of $27 and $32, respectively
748 667 
Inventories600 650 
Prepaid and other current assets105 145 
Total current assets1,542 1,556 
Property, net of accumulated depreciation of $1,599 and $1,648, respectively
871 822 
Right of use assets160 163 
Other intangibles, net of accumulated amortization of $142 and $141, respectively
275 279 
Deferred income taxes554 610 
Other noncurrent assets15 17 
Total noncurrent assets1,875 1,891 
Total assets$3,417 $3,447 
Carrying amounts of major classes of liabilities
Current liabilities
Accounts payable$1,109 $1,394 
Accrued expenses232 152 
Accrued advertising and promotions182 172 
Employee compensation84 107 
Notes payable2 3 
Other current liabilities137 125 
Total current liabilities1,746 1,953 
Noncurrent liabilities
Long-term debt1 2 
Pension benefits105 122 
Lease liabilities130 131 
Other noncurrent liabilities32 88 
Total noncurrent liabilities268 343 
Total liabilities$2,014 $2,296 
Total net assets of the disposal group classified as held for sale$1,403 $1,151 
Assets held for saleFair value of interest retained$140 $139 
Liabilities held for saleCumulative currency translation adjustment and Other comprehensive income on pension$478 $490 
The following table summarizes European major appliances business' earnings (loss) available to Whirlpool before income taxes for the nine months ended September 30, 2023 and September 30, 2022 respectively:
Nine Months Ended September 30,
in millions20232022
Earnings (loss) before income taxes$12 $(89)
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 September 30, 2023. Purchase accounting adjustments recorded during the third quarter of 2023 were not material.
(in millions)Amount
Cash and cash equivalents$7 
Receivables, net74 
Inventories 93 
Other current assets 1 
Property, plant and equipment, net 173 
Goodwill1,152 
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