XML 52 R31.htm IDEA: XBRL DOCUMENT v3.24.2

STOCKHOLDERS' EQUITY (Tables)

6 Months Ended

Jun. 30, 2024

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, 2023						$	2,537					$	8,358					$	(2,178)					$	(3,932)					$	114					$	175
Comprehensive income (loss)
Net earnings (loss)						(253)						(259)						—						—						—						6
Other comprehensive income						3						—						3						—						—						—
Comprehensive income (loss)						(250)						(259)						3						—						—						6
Stock issued (repurchased)						(45)						—						—						(45)						—						—
Sale of minority interest in subsidiary						462						—						18						370						—						74
Dividends declared						(94)						(95)						—						—						—						1
Balances, March 31, 2024						$	2,610					$	8,004					$	(2,157)					$	(3,607)					$	114					$	256
Comprehensive income (loss)
Net earnings (loss)						225						219						—						—						—						6
Other comprehensive income						17						—						17						—						—						—
Comprehensive income (loss)						242						219						17						—						—						6
Stock issued (repurchased)						26						—						—						25						1						—
Dividends declared						(96)						(96)						—						—						—						—
Divestitures (1)						577						—						577						—						—						—
Balances, June 30, 2024						$	3,359					$	8,127					$	(1,563)					$	(3,582)					$	115					$	262

(1) Other comprehensive loss of $440 million related to currency translation and $137 million related to pension has been deconsolidated from accumulated other comprehensive income (loss) as part of deconsolidation of European major appliance business as of April 1, 2024. These amounts have been included in the loss on disposal as disclosed in FN 14.

												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

Schedule of Other Comprehensive Income (Loss)

The following table summarizes our other comprehensive income (loss) and related tax effects for the periods presented:

						Three Months Ended June 30,
						2024												2023
Millions of dollars						Pre-tax			Tax Effect			Net						Pre-tax			Tax Effect			Net
Currency translation adjustments						$	(23)		$	—		$	(23)					$	27		$	—		$	27
Cash flow hedges						44			(14)			30						(75)			18			(57)
Pension and other postretirement benefits plans						10			—			10						(11)			2			(9)
Other comprehensive income (loss)						31			(14)			17						(59)			20			(39)
Less: Other comprehensive income (loss) available to noncontrolling interests						—			—			—						—			—			—
Other comprehensive income (loss) available to Whirlpool						$	31		$	(14)		$	17					$	(59)		$	20		$	(39)

						Six Months Ended June 30,
						2024												2023
Millions of dollars						Pre-tax			Tax Effect			Net						Pre-tax			Tax Effect			Net
Currency translation adjustments						$	(51)		$	—		$	(51)					$	26		$	—		$	26
Cash flow hedges						76			(23)			53						(91)			23			(68)
Pension and other postretirement benefits plans						20			(2)			18						2			—			2
Other comprehensive income (loss)						45			(25)			20						(63)			23			(40)
Less: Other comprehensive income (loss) available to noncontrolling interests						—			—			—						—			—			—
Other comprehensive income (loss) available to Whirlpool						$	45		$	(25)		$	20					$	(63)		$	23		$	(40)

Schedule of Reclassifications out of Accumulated Other Comprehensive Income (Loss)

The following table provides the reclassification adjustments out of accumulated other comprehensive income (loss), by component, which was included in net earnings for the three and six months ended June 30, 2024:

			Three Months Ended						Six Months Ended
Millions of dollars			(Gain) Loss Reclassified						(Gain) Loss Reclassified			Classification in Earnings
Pension and postretirement benefits, pre-tax			$	9					$	20		Interest and sundry (income) expense
Total			$	9					$	20

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						2024						2023						2024						2023
Numerator for basic and diluted earnings per share - Net earnings (loss) available to Whirlpool						$	219					$	85					$	(40)					$	(94)
Denominator for basic earnings per share - weighted-average shares						54.9						55.0						54.9						54.9
Effect of dilutive securities - share-based compensation						0.1						0.2						—						—
Denominator for diluted earnings per share - adjusted weighted-average shares						55.0						55.2						54.9						54.9
Anti-dilutive stock options/awards excluded from earnings per share						1.8						1.2						2.0						1.0

X

- Definition

Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss).

+ References

No definition available.

+ Details

Name:	us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of components of comprehensive income (loss). Includes, but is not limited to, foreign currency translation adjustments, foreign currency transactions designated as economic hedges of a net investment in foreign entity, gain (loss) and prior service cost (credit) for pension plans and other postretirement benefit plans.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 1
-Section 45
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1

+ Details

Name:	us-gaap_ScheduleOfComprehensiveIncomeLossTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1

+ Details

Name:	us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of changes in the separate accounts comprising stockholders' equity (in addition to retained earnings) and of the changes in the number of shares of equity securities during at least the most recent annual fiscal period and any subsequent interim period presented is required to make the financial statements sufficiently informative if both financial position and results of operations are presented.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-SubTopic 10
-Topic 505
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-2

+ Details

Name:	us-gaap_ScheduleOfStockholdersEquityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_StockholdersEquityNoteAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration