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SEGMENT INFORMATION | 3 Months Ended
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Mar. 31, 2024
Segment Reporting [Abstract] |
SEGMENT INFORMATION | SEGMENT INFORMATION Beginning January 1, 2024, we reorganized our operating segment structure to better represent the revised structure within our portfolio transformation, including a greater focus on our strong value creating small domestic appliance business. The Company implemented this change to align with the Company's new operating structure, consistent with how the Company’s Chief Operating Decision Maker evaluates performance and allocates resources in accordance with ASC 280, Segment Reporting. Our reportable segments consist of Major Domestic Appliances ("MDA") North America; MDA Europe, MDA Latin America; MDA Asia; and Small Domestic Appliances ("SDA") Global. All prior period amounts have been reclassified to conform with current period presentation. 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 segment. The MDA Europe business was deconsolidated upon the completion of the European contribution agreement transaction with Arcelik as of April 1, 2024. For additional information see Note 14 to the Consolidated Condensed Financial Statements. The tables below summarize performance by operating segment for the periods presented:
|  | Three Months Ended March 31,
|  | OPERATING SEGMENTS
|  | MDA North America |  | MDA Latin America |  | MDA Asia |  | MDA Europe |  | SDA Global |  | Other / Eliminations |  | Total Whirlpool
Net sales |  |  |  |  |  |  |  |  |  |  |  |  |  |
2024 |  | $ | 2,428 |  |  | $ | 837 |  |  | $ | 239 |  |  | $ | 804 |  |  | $ | 182 |  |  | $ | — |  |  | $ | 4,490 |
2023 |  | 2,641 |  |  | 747 |  |  | 245 |  |  | 846 |  |  | 170 |  |  | — |  |  | 4,649 |
Intersegment sales |  |  |  |  |  |  |  |  |  |  |  |  |  |
2024 |  | $ | 33 |  |  | $ | 303 |  |  | $ | 10 |  |  | $ | 23 |  |  | $ | 10 |  |  | $ | (379) |  |  | $ | — |
2023 |  | 58 |  |  | 378 |  |  | 10 |  |  | 23 |  |  | — |  |  | (469) |  |  | — |
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |
2024 |  | $ | 48 |  |  | $ | 18 |  |  | $ | 6 |  |  | $ | — |  |  | $ | 3 |  |  | $ | 14 |  |  | $ | 89 |
2023 |  | 49 |  |  | 17 |  |  | 5 |  |  | — |  |  | 3 |  |  | 15 |  |  | 89 |
EBIT |  |  |  |  |  |  |  |  |  |  |  |  |  |
2024 |  | $ | 135 |  |  | $ | 65 |  |  | $ | 11 |  |  | $ | (9) |  |  | $ | 33 |  |  | $ | (322) |  |  | $ | (87) |
2023 |  | 266 |  |  | 36 |  |  | 8 |  |  | (5) |  |  | 19 |  |  | (357) |  |  | (33) |
Total assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
March 31, 2024 |  | $ | 10,447 |  |  | $ | 3,957 |  |  | $ | 1,149 |  |  | $ | — |  |  | $ | 1,404 |  |  | $ | 413 |  |  | $ | 17,370 |
December 31, 2023 |  | 10,217 |  |  | 4,037 |  |  | 1,054 |  |  | 685 |  |  | 1,134 |  |  | 185 |  |  | 17,312 |
Capital expenditures |  |  |  |  |  |  |  |  |  |  |  |  |  |
2024 |  | $ | 42 |  |  | $ | 40 |  |  | $ | 3 |  |  | $ | 22 |  |  | $ | 2 |  |  | $ | 6 |  |  | $ | 115 |
2023 |  | 45 |  |  | 15 |  |  | 2 |  |  | 19 |  |  | 3 |  |  | 12 |  |  | 96 |
Assets of $3.5 billion and $3.3 billion associated with our European major domestic appliance business have been classified as assets held for sale and recorded at fair value less costs to sell at March 31, 2024 and December 31, 2023, respectively. See Note 14 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 March 31, |  |
in millions | 2024 | 2023 |  |  |
Items not allocated to segments: |  |  |  |  |
Restructuring charges | $ | (23) |  | $ | — |  |  |  |
Legacy MDA Europe legal matters | — |  | (62) |  |  |  |
(Loss) gain on sale and disposal of businesses | (247) |  | (222) |  |  |  |
Corporate expenses and other | (52) |  | (73) |  |  |  |
Total other/eliminations | $ | (322) |  | $ | (357) |  |  |  |
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 March 31, |  |
in millions |  | 2024 | 2023 |  |  |
Operating (loss) profit |  | $ | (116) |  | $ | 43 |  |  |  |
Interest and sundry (income) expense |  | (29) |  | 77 |  |  |  |
Equity method investment income (loss), net of tax |  | — |  | 1 |  |  |  |
Total EBIT |  | $ | (87) |  | $ | (33) |  |  |  |
Interest expense |  | 90 |  | 75 |  |  |  |
Income tax expense |  | 76 |  | 68 |  |  |  |
Net earnings (loss) |  | $ | (253) |  | $ | (176) |  |  |  |
Less: Net earnings available to noncontrolling interests |  | 6 |  | 3 |  |  |  |
Net earnings (loss) available to Whirlpool |  | $ | (259) |  | $ | (179) |  |  |  |

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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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