<SEC-DOCUMENT>0001193125-24-115963.txt : 20240604
<SEC-HEADER>0001193125-24-115963.hdr.sgml : 20240604
<ACCEPTANCE-DATETIME>20240426083949
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001193125-24-115963
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20240426

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WHIRLPOOL CORP /DE/
		CENTRAL INDEX KEY:			0000106640
		STANDARD INDUSTRIAL CLASSIFICATION:	HOUSEHOLD APPLIANCES [3630]
		ORGANIZATION NAME:           	04 Manufacturing
		IRS NUMBER:				381490038
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		WHIRLPOOL CNTR 2000 M 63
		STREET 2:		C/O CORPORATE SECRETARY
		CITY:			BENTON HARBOR
		STATE:			MI
		ZIP:			49022-2692
		BUSINESS PHONE:		2699235000

	MAIL ADDRESS:	
		STREET 1:		WHIRLPOOL CTR 2000 M 63
		STREET 2:		C/O CORPORATE SECRETARY
		CITY:			BENTON HARBOR
		STATE:			MI
		ZIP:			49022-2692

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	WHIRLPOOL SEEGER CORP
		DATE OF NAME CHANGE:	19710824
</SEC-HEADER>
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<TYPE>CORRESP
<SEQUENCE>1
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<TITLE>CORRESP</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">April&nbsp;26, 2024 </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>VIA EDGAR TRANSMISSION </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Office of Manufacturing
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Corporation Finance </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">U.S. Securities and
Exchange Commission </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F Street, N.E. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, DC 20549
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Attention: Sisi Cheng and Hugh West </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Re: Whirlpool
Corporation </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Form <FONT STYLE="white-space:nowrap">10-K</FONT> for Fiscal Year Ended December&nbsp;31, 2023 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Filed February&nbsp;14, 2024 </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>File <FONT
STYLE="white-space:nowrap">No.&nbsp;001-03932</FONT> </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Ms.&nbsp;Cheng and Mr.&nbsp;West: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As Executive Vice President and Chief Financial and Administrative Officer of Whirlpool Corporation, I am responding to the letter from the staff of the
Division of Corporation Finance (the &#147;Staff&#148;) of the United States Securities and Exchange Commission (the &#147;SEC&#148;) dated March&nbsp;28, 2024, containing comments on the above-referenced filing. For your convenience, we have
included in this letter the Staff&#146;s comment in bold and italics before providing our response to that comment. Please note that the &#147;Company,&#148; &#147;Whirlpool,&#148; &#147;we&#148; or &#147;our&#148; refers to Whirlpool Corporation,
and unless the context otherwise requires, all references to page numbers correspond to the pages in our Form <FONT STYLE="white-space:nowrap">10-K</FONT> for the fiscal year ended December&nbsp;31, 2023 (the &#147;Form <FONT
STYLE="white-space:nowrap">10-K&#148;).</FONT> All terms used but not defined herein have the meanings assigned to such terms in the Form <FONT STYLE="white-space:nowrap">10-K.</FONT> </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Form <FONT STYLE="white-space:nowrap">10-K</FONT> for Fiscal Year Ended December&nbsp;31, 2023 </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Notes to the Consolidated Financial Statements </U></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Note 15 - Acquisitions and Divestitures, page 113 </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>1. We note your disclosure that pursuant to a contribution agreement with Arcelik, you will contribute your major domestic appliance European business
operations into a newly formed European appliance company of which you will own 25%. We also note that you entered into a share purchase agreement with Arcelik for the sale of your Middle East and North Africa (&#147;MENA&#148;) business. We further
note your disclosure that your European major domestic appliance business, including the MENA business, met the criteria for held for sale accounting during the fourth quarter of 2022 and that the operations of the European disposal group did not
meet the criteria to be presented as discontinued operations. Please address the following items. </I></B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>

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<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><B><I>Tell us how you concluded the disposal group met the criteria for held for sale during the fourth quarter
of 2022 in accordance with ASC <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">360-10-45.</FONT></FONT> In your response, separately discuss the MENA business that will be sold to Arcelik and the European major domestic appliance
business operations that will be contributed into a newly formed company, including your consideration of the guidance in ASC
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">360-10-45-15.</FONT></FONT></FONT> </I></B> </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Response</U></B><U>:</U> In response to the Staff&#146;s comment, we respectfully provide the following supplemental information. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Transaction Background: </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On April&nbsp;25, 2022,
Whirlpool Corporation (&#147;Whirlpool&#148;, &#147;the Company&#148; or &#147;the Seller&#148;) announced that the Company was conducting a portfolio review focused on accelerating our transformation towards higher margin and higher growth
businesses. This review included a strategic assessment of the Company&#146;s Europe, Middle East and Africa (&#147;EMEA&#148;) operations, primarily its major appliances business (the &#147;European major appliances business&#148;), exclusive of
KitchenAid small and major appliances, the newly acquired InSinkErator business and certain other smaller businesses. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On December&nbsp;20, 2022,
Whirlpool received Board approval granting management the authorization to execute a transaction to sell the European major appliance business. Subsequently, on January&nbsp;16, 2023, Whirlpool entered into definitive agreements with Arcelik A.S.
(&#147;Arcelik&#148; or &#147;the Buyer&#148;). Under the terms of the agreements, Whirlpool contributed the monetary (including cash) and <FONT STYLE="white-space:nowrap">non-monetary</FONT> assets of the European major appliance business
(excluding the Middle East and North Africa or &#147;MENA&#148; business which has historically been operated as part of the European major appliance business) and surrendered control in a fair value for fair value transaction. In doing so, the
Company received shares as consideration representing a 25% ownership interest in a newly formed European standalone appliance business created by Arcelik (&#147;Beko Europe B.V.&#148; or the &#147;European Transaction&#148;). The standalone company
consists of Whirlpool&#146;s European major appliance business and Arcelik&#146;s European major appliance business (excluding Arcelik&#146;s Turkey business). Based on historical financials of the contributed businesses, the new entity is expected
to have combined sales of over &#128;6&nbsp;billion and be well-positioned to deliver value to consumers through attractive brands, sustainable manufacturing, product innovation, and consumer services. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On June&nbsp;22, 2023, Whirlpool entered into a definitive agreement with Arcelik for the sale of our MENA business in exchange for cash (&#128;38 million -
&#128;20&nbsp;million purchase price for the business and &#128;18&nbsp;million for cash on hand at the time of closing) (the &#147;MENA Transaction&#148; and together with the European Transaction, the &#147;Transactions&#148;). The parties agreed
to execute separate sale transactions for the MENA business to keep MENA as a 100% Arcelik-owned group. The sale of the MENA business was previously agreed upon in principle and announced on January&nbsp;17, 2023, in conjunction with the
announcement related to the European Transaction. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The European Transaction received regulatory approval from the European Commission on October&nbsp;24, 2023,
and from the UK Competition and Markets Authority on March&nbsp;7, 2024. Having received all regulatory approvals, the Transactions closed on April&nbsp;1, 2024. Neither regulatory process required any significant changes to the Transactions upon
final approval. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Assessment of Held for Sale Treatment: </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company determined that the Transactions constitute a sale of a disposal group of long-lived assets. From the time of plan to sell the EMEA business
through the executed agreements between the parties, the European and MENA Transactions were contemplated together and treated as a singular transaction to be completed contemporaneously. Given these facts, the Company was required to treat these
two transactions as part of the same disposal group (&#147;the Disposal Group&#148;).&#8195; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As directed in <B>ASC </B><B><I><FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">360-10-45-9,</FONT></FONT></FONT> </I></B>we evaluated the following criteria to determine if the Disposal Group met the criteria for held for sale
accounting during the fourth quarter of 2022. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" COLSPAN="3" NOWRAP STYLE="BORDER:1px solid #000000; padding-left:8pt; padding-right:2pt" BGCOLOR="#073763"><FONT COLOR="#FFFFFF"><B>Determination if Held for Sale classification criteria is met</B></FONT></TD></TR>
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<TD VALIGN="bottom" NOWRAP STYLE="BORDER:1px solid #000000; padding-left:8pt" BGCOLOR="#073763"><FONT COLOR="#FFFFFF"><B>Criteria:</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#073763" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt" BGCOLOR="#073763"><FONT COLOR="#FFFFFF"><B>Result:</B></FONT></TD></TR>


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<TD VALIGN="top" STYLE="BORDER:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>ASC <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">360-10-45-9</FONT></FONT></FONT></B></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">A long-lived asset
(disposal group) to be sold shall be classified as held for sale in the period in which <B>all</B> of the following criteria are met:</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">As directed in ASC <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">360-10-45-9</FONT></FONT></FONT> the following assessment was performed:</TD></TR>
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<TD HEIGHT="8" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
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<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt">Management, having the authority to approve the action, commits to a plan to sell the asset (disposal
group)</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Whirlpool&#146;s policies require Board approval
for a material disposal of a business. Management requested and received an approval from the Board, via a resolution on December&nbsp;20, 2022, to execute the proposed transaction. This resolution authorized the Company to sell the Disposal Group
(i.e. - granted management the authority to approve the action).</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman"><B>This criteria
was met as of December&nbsp;31, 2022.</B></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>

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<TD HEIGHT="8" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-left:8pt">&nbsp;</TD>
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<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">The asset (disposal group) is available for immediate sale in its present condition subject only to terms that are usual and customary for sales of such assets
(disposal groups).</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company planned to sell the Disposal Group to the Buyer in the present condition.</P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Based on the Company&#146;s preceding similar transactions, the terms that historically
have been considered &#147;usual and customary for sales of such entities&#148; include antitrust approval, preparation of closing accounts and other usual regulatory or operational alignments. The closing of the Transactions was subject only to the
terms that are usual and customary, including antitrust regulatory approvals in various European countries. Further, beyond the customary requirements, there were no negotiated restrictions or requirements that would suggest that the Disposal Group
was not available for immediate sale.</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman"><B>This criteria was met as of
December&nbsp;31, 2022.</B></P></TD></TR>
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<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
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<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt">An active program to locate a buyer and other actions required to complete the plan to sell the asset (disposal
group) have been initiated.</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company conducted an active campaign to
identify potential buyers and engaged a third-party advisor to perform certain sell-side due diligence and reverse due diligence services in connection with the Transactions. These activities began prior to the Company seeking board approval.</P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman"><B>This criteria was met as of December&nbsp;31, 2022.</B></P></TD></TR>
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<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
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<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt">The sale of the asset (disposal group) is probable, and transfer of the asset (disposal group) is expected to
qualify for recognition as a completed sale, within one year, except as permitted by paragraph <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">360-10-45-11.</FONT></FONT></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The sale of the Disposal Group was deemed probable
within one year from December&nbsp;20, 2022, based on the Company&#146;s evaluation of the facts and circumstances existing as of the assessment date, including its knowledge of the market and discussions with potential buyers.</P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>This criteria was met as of December&nbsp;31, 2022.</B></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On October&nbsp;11, 2023, the UK Competition and Markets Authority announced its
intention to enter into a Phase 2 investigation on the European Transaction, which was deemed unlikely at the time of agreement signing in early 2023. This further delay indicated that a 2023 close was not probable.</P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">While this pushed the European Transaction close beyond one year post held for sale
treatment, this event was not foreseeable at the time of the agreements. Under ASC <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">360-10-45-11</FONT></FONT></FONT> c. there are exceptions deemed
appropriate to continue the held for sale treatment beyond the</P></TD></TR></TABLE>
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<TD VALIGN="top" STYLE="BORDER:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap">one-year</FONT> period due to circumstances that were previously considered unlikely. Given the continued intent to sell the
businesses under the same agreements to the same Buyer and that the antitrust approvals had been received from the European Commission in October 2023, the Company deemed that there was no need to modify the previous held for sale treatment of the
Disposal Group. The held for sale treatment was continued until the closing of the Transactions on April&nbsp;1, 2024. There were no changes to the Transactions required to receive regulatory approval.</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt">The asset (disposal group) is being actively marketed for sale at a price that is reasonable in relation to its
current fair value. The price at which a long-lived asset (disposal group) is being marketed is indicative of whether the entity currently has the intent and ability to sell the asset (disposal group). A market price that is reasonable in relation
to fair value indicates that the asset (disposal group) is available for immediate sale, whereas a market price in excess of fair value indicates that the asset (disposal group) is not available for immediate sale.</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company executed a multi counter-party search
process prior to engaging in final negotiations with the eventual Buyer. Within the construct of that final process, the sale price of the Disposal Group was not specifically defined as of December&nbsp;31, 2022 because it depended on the final deal
structure under a variety of potential outcomes, including a full or partial sale. However, the Company did not market the Disposal Group in a manner which would preclude a sale or make a sale less likely (i.e. - management intended to engage in a
fair value transaction negotiated at arms-length). The Company demonstrated the intent and ability to sell the Disposal Group given its marketing actions and negotiations. Therefore, the entity was available for immediate sale.</P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman"><B>This criteria was met as of December&nbsp;31, 2022.</B></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt">Actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be
made or that the plan will be withdrawn.</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As of December&nbsp;31, 2022, the Board had
approved the transaction and the process to prepare for regulatory approval was underway.&#8195;</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman"><B>This criteria was met as of December&nbsp;31, 2022.</B></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-left:8pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt; padding-right:2pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Conclusion:</U></B></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman"><B>Based on the Company&#146;s assessment above, the Disposal Group met the criteria for held for sale treatment as of December&nbsp;31, 2022.&#8195;The
Disposal Group remained in held for sale treatment until such time as the Transactions closed on April&nbsp;1, 2024.</B></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s question on ASC <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">360-10-45-15,</FONT></FONT></FONT> the Company respectfully offers our assessment that the Transactions do not constitute a long-lived asset to be disposed of other than by sale. The Company assessed the European
Transaction, including the transaction agreements signed by the parties, as a sale of our European major appliances business in a fair value for fair value </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
transaction whereby we contributed our ownership stake in our European major appliances business and received consideration representing a 25% ownership stake in a newly created entity, Beko
Europe B.V., consisting of Arcelik&#146;s European business (excluding Arcelik&#146;s Turkey business) and Whirlpool&#146;s European major appliances business. This new business was created by Arcelik and is majority owned by Arcelik and the
agreements entered into by both parties clearly identify Arcelik as the buyer (the majority owner of the newly formed entity) and Whirlpool as the seller (the minority owner of the newly formed entity). Whirlpool has surrendered all ownership and
financial control rights in this newly formed entity, and only retains rights that would be considered protective rights of a minority shareholder in the entity. The Company has also considered some of the specific examples of transactions that do
not constitute a sale within the guidance below. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>Abandonment</I>: The Company has not abandoned the Disposal Group, but rather contributed it to a newly formed
entity in a fair value for fair value exchange of the assets and received a minority stake in the newly created entity as consideration. Therefore, this criteria is not applicable. </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>An exchange measured based on the recorded amount of the <FONT STYLE="white-space:nowrap">non-monetary</FONT>
asset relinquished</I>: The Company has received a 25% ownership stake in a newly formed entity. The ownership percentage obtained was in contemplation of the fair value of the business sold relative to the total fair value of the newly formed
business. The business sold is inclusive of both <FONT STYLE="white-space:nowrap">non-monetary</FONT> and monetary (including cash) assets. Therefore, this criteria is not applicable. </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>Distribution to owners in a <FONT STYLE="white-space:nowrap">spin-off,</FONT> including a pro rata
distribution to owners of shares of a subsidiary</I>: This newly formed entity does not constitute a <FONT STYLE="white-space:nowrap">spin-off,</FONT> as each entity contributed its assets into a newly formed entity, Beko Europe B.V. Arcelik is an
unrelated third party to Whirlpool and does not have any ownership interest in the consolidated Whirlpool entity. The ownership stake of each party was calculated based upon the value of the assets and performance of the business that they were
contributing to the entity. This fair value for fair value exchange does not constitute a spin off based on a pro rata distribution. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>A contribution (i.e., a gift) to another entity</I>: Given the ownership in the newly formed entity is based
on a fair value exchange, it does not constitute a gift. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The same analysis applies to the MENA Transaction whereby Whirlpool as the
Seller exchanged cash with Arcelik as the Buyer for the ownership of the business. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><B><I>Provide us with your detailed analysis performed under ASC <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">205-20-45</FONT></FONT> in determining the disposal group did not qualify as discontinued operations. Separately discuss in your response the MENA business and the European major domestic appliance business.</I></B>
</P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Response</U></B><U>:</U> In response to the Staff&#146;s comment, we respectfully provide the following supplemental information.
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In accordance with ASC 205, <I>Presentation of Financial Statements</I>, the Company performed a
discontinued operations assessment of the Transactions. Assessment highlights and analysis are captured in the table below. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


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<TD VALIGN="bottom" COLSPAN="3" NOWRAP STYLE="BORDER:1px solid #000000; padding-left:8pt; padding-right:2pt" BGCOLOR="#073763"><FONT COLOR="#FFFFFF"><B>Determination if Discontinued Operations classification criteria is met</B></FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP STYLE="BORDER:1px solid #000000; padding-left:8pt" BGCOLOR="#073763"><FONT COLOR="#FFFFFF"><B>Criteria:</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#073763" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt" BGCOLOR="#073763"><FONT COLOR="#FFFFFF"><B>Result:</B></FONT></TD></TR>


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<TD VALIGN="top" STYLE="BORDER:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>ASC <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">205-20-45-1A</FONT></FONT></FONT></B></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A discontinued
operation may include a component of an entity, a group of components of an entity, or a business or a nonprofit activity.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>ASC <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">205-20-20</FONT></FONT></B></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Component of an Entity</B>: A component of an entity comprises operations and cash
flows that can be clearly distinguished, operationally and for financial reporting purposes, from the rest of the entity. A component of an entity may be a reportable segment or an operating segment, a reporting unit, a subsidiary, or an asset
group.</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman"><B>Disposal Group:</B> A disposal group for a long-lived asset or assets to
be disposed of by sale or otherwise represents assets to be disposed of together as a group in a single transaction and liabilities directly associated with those assets that will be transferred in the transaction. A disposal group may include a
discontinued operation along with other assets and liabilities that are not part of the discontinued operation.</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As directed in ASC <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">205-20-45-1-E</FONT></FONT></FONT></FONT> the following assessment was performed:</P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Disposal Group consists of individual legal entities (subsidiaries) with standalone
statutory financial statements, which qualify as components, both individually and collectively.</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman"><B>The European major appliances and the MENA businesses qualified as components and a disposal group as of December&nbsp;31, 2022. This analysis is consistent
with the held for sale treatment of the Disposal Group as of December&nbsp;31, 2022.</B></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>ASC <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">205-20-45-1B</FONT></FONT></FONT></B></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A disposal of a component of an entity or a group of components of an entity shall be reported in discontinued operations if the disposal represents a
strategic shift that has (or will have) a major effect on an entity&#146;s operations and financial results when any of the following occurs:</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:4.00em; text-indent:-2.00em; font-size:10pt; font-family:Times New Roman">&#149;&#8195;&#8194;&#8202;The component of an entity or group of components of an entity meets the criteria in
paragraph <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">205-20-45-1E</FONT></FONT></FONT> to be classified as held for sale.</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"><B>Based on the strategic shift/major effect assessment below, the European major appliances business and MENA business <U>DO NOT</U> meet
the strategic shift criteria to be recorded for discontinued operations.</B></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>

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<TD VALIGN="top" STYLE="BORDER:1px solid #000000; padding-left:8pt"> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4.00em; text-indent:-2.00em; font-size:10pt; font-family:Times New Roman">&#149;&#8195;&#8194;&#8202;The component of an entity or group of components of an entity is disposed of by sale.</P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:4.00em; text-indent:-2.00em; font-size:10pt; font-family:Times New Roman">&#149;&#8195;&#8194;&#8202;The component of an
entity or group of components of an entity is disposed of other than by sale in accordance with paragraph <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">360-10-45-15</FONT></FONT> (for example, by abandonment or in a distribution
to owners in a spinoff).</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>ASC <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">205-20-45-1E</FONT></FONT></FONT></B></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A component of an entity or a group of components of an entity, or a business or nonprofit activity (the entity to be sold), shall be classified as held for
sale in the period in which all of the following criteria are met:</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4.00em; text-indent:-2.00em; font-size:10pt; font-family:Times New Roman">&#149;&#8195;&#8194;&#8202;Management, having the authority to approve the action, commits to a plan to sell the
entity to be sold.</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4.00em; text-indent:-2.00em; font-size:10pt; font-family:Times New Roman">&#149;&#8195;&#8194;&#8202;The entity to be sold is available for immediate sale in its present condition subject only
to terms that are usual and customary for sales of such entities to be sold</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4.00em; text-indent:-2.00em; font-size:10pt; font-family:Times New Roman">&#149;&#8195;&#8194;&#8202;An active program to locate a buyer or buyers and other actions required to complete the
plan to sell the entity to be sold have been initiated.</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4.00em; text-indent:-2.00em; font-size:10pt; font-family:Times New Roman">&#149;&#8195;&#8194;&#8202;The sale of the entity to be sold is probable, and transfer of the entity to be sold is
expected to qualify for recognition as a completed sale, within one year, except as permitted by paragraph <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">205-20-45-1G.</FONT></FONT></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:4.00em; text-indent:-2.00em; font-size:10pt; font-family:Times New Roman">&#149;&#8195;&#8194;&#8202;The entity to be sold
is being actively marketed for sale at a price that is reasonable in relation to its current fair value. The price at which an entity to be sold is being marketed is indicative of whether the entity currently has the intent and ability to sell the
entity to be sold. A market price that is reasonable in relation to fair value indicates that the entity to be sold is available for immediate sale, whereas a market price in excess of fair value indicates that the entity to be sold is not available
for immediate sale.</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The required six criteria to be classified as held
for sale were met as of December&nbsp;31, 2022. A more detailed assessment can be found within the Company&#146;s response to the Staff&#146;s first bulleted question above.</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman"><B>Criteria was met as of December&nbsp;31, 2022.</B></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>

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<TD VALIGN="top" STYLE="BORDER:1px solid #000000; padding-left:8pt"> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:4.00em; text-indent:-2.00em; font-size:10pt; font-family:Times New Roman">&#149;&#8195;&#8194;&#8202;Actions required to complete the plan indicate that it is unlikely that significant changes
to the plan will be made or that the plan will be withdrawn.</P></TD>
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<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Conclusion:</U></B></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman"><B>Based on The Company&#146;s assessment above and as further discussed below, the European major appliances and MENA businesses <U>DO NOT</U> meet the
criteria to qualify as discontinued operations as of December&nbsp;31, 2022.</B></P></TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>The Company&#146;s Assessment of Strategic Shift </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As noted in the Transaction Background above, the MENA and European major appliances business Transactions were completed in a contemporaneous manner with the
same party &#150; Arcelik. The assessment of what qualifies as a strategic shift that has or will have a major effect is intended to be based on qualitative and quantitative facts and circumstances specific to each reporting entity and disposal.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In 2022, the Disposal Group represented less than 20% of total assets (before consideration of impairment at held for sale), less than 20% of revenues
and less than 10% of EBIT of Whirlpool&#146;s consolidated business. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">From a qualitative perspective, the Company considered whether the sale would
constitute a strategic shift. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Continuing financial interests in the European region and related product lines </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As consideration for the sale, the Company received cash and an equity ownership (25%) in a significantly larger major appliances business created by Arcelik
in Europe (Beko Europe B.V.). Therefore, the Company will continue to have significant financial exposure to the macroeconomic environment in the region. For perspective, based on historical financials of the contributed businesses the new entity is
expected to have combined sales of over &#128;6&nbsp;billion and be well-positioned to deliver value to consumers through attractive brands, sustainable manufacturing, product innovation, and consumer services. The combined businesses are expected
to generate cost synergies of over &#128;200&nbsp;million. This improvement in operating margins is expected to drive our proportional share of the businesses and our portion of those profits will be included in our consolidated financial results
for as long as we hold an ownership interest. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company also entered into a supply agreement and license agreements related to our product line brands
that have been licensed to Beko Europe B.V. and are sold by Beko Europe B.V. within the European or MENA regions (primarily the <I>Whirlpool</I> brand). </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Continued operations in the appliance business in the EMEA region </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company will remain invested in the EMEA region through its equity ownership in Beko Europe B.V., as well as continuing full ownership and control of its
KitchenAid small and major appliances businesses and the recently acquired InSinkErator business as none of these were a part of the transaction with Arcelik. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Receiving a financial equivalent exchange of value </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The fair value of what is being contributed is equivalent to the fair value the Company is receiving in return. Specifically, the fair value of our retained
interest received as consideration is based on our respective equity ownership (25%) of the combined value of Beko Europe B.V. As such, the fair value of the Company&#146;s investment in the Disposal Group is equivalent before and after the
Transaction(s). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Given all of these facts and circumstances, the Company determined that the European Transaction and the MENA Transaction did not qualify
as a strategic shift, and thus did not meet the criteria for treatment as discontinued operations under ASC <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">205-20-45.</FONT></FONT> </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Overall Conclusion: </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Given the factors discussed
above, the Company determined that the Disposal Group qualified for held for sale accounting as of December&nbsp;31, 2022 and did not qualify for treatment as Discontinued Operations. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">I hope that the foregoing has been responsive to the Staff&#146;s comments. Please do not hesitate to contact me by telephone at (269) <FONT
STYLE="white-space:nowrap">923-3732,</FONT> via facsimile at (269) <FONT STYLE="white-space:nowrap">923-3582,</FONT> or via email at james_peters@whirlpool.com, with any questions or comments regarding this correspondence. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top">Sincerely,</TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ James W. Peters</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">James W. Peters</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Executive Vice President and
Chief Financial and Administrative Officer</P></TD></TR>
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</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">cc: Christopher S. Conley, Corporate Controller </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Kyle De Jong, General Counsel </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Bridget K. Quinn, Corporate
Secretary </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>

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