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SEGMENT INFORMATION | 3 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
SEGMENT INFORMATION | SEGMENT INFORMATION Our reportable segments consist of Major Domestic Appliances ("MDA") North America; MDA Latin America; MDA Asia; and Small Domestic Appliances ("SDA") Global. 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 chief operating decision maker (CODM) is the Company's Chairman and Chief Executive Officer, who evaluates operational performance based on each segment's earnings (loss) before interest and taxes (EBIT). We define segment EBIT as operating profit less interest and sundry (income) expense and excluding restructuring costs, asset impairment charges and certain other items, if any, that management believes are not indicative of the segment's ongoing performance. Cost of products sold is the significant expense regularly reviewed by the CODM and consists of costs associated with products sold, including but not limited to materials, labor, freight and warehousing. Other segment expenses/ (income) primarily include selling, general and administrative items. 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 segment's ongoing performance. Intersegment sales are eliminated within each segment. The table below summarizes 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 (1) |  | SDA Global |  | Other / Eliminations |  | Total Whirlpool
Net sales |  |  |  |  |  |  |  |  |  |  |  |  |  |
2025 |  | $ | 2,419 |  |  | $ | 737 |  |  | $ | 268 |  |  | $ | — |  |  | $ | 196 |  |  | $ | — |  |  | $ | 3,621 |
2024 |  | 2,428 |  |  | 837 |  |  | 239 |  |  | 804 |  |  | 182 |  |  | — |  |  | 4,490 |
Cost of Products Sold |  |  |  |  |  |  |  |  |  |  |  |  |  |
2025 |  | $ | 2,044 |  |  | $ | 631 |  |  | $ | 224 |  |  | $ | — |  |  | $ | 118 |  |  | $ | (3) |  |  | $ | 3,014 |
2024 |  | 2,098 |  |  | 708 |  |  | 207 |  |  | 726 |  |  | 113 |  |  | (4) |  |  | 3,848 |
Other segment expenses/(income) |  |  |  |  |  |  |  |  |  |  |  |  |  |
2025 |  | $ | 226 |  |  | $ | 57 |  |  | $ | 26 |  |  | $ | — |  |  | $ | 42 |  |  | $ | 57 |  |  | $ | 408 |
2024 |  | 195 |  |  | 64 |  |  | 21 |  |  | 87 |  |  | 36 |  |  | 326 |  |  | 729 |
EBIT |  |  |  |  |  |  |  |  |  |  |  |  |  |
2025 |  | $ | 149 |  |  | $ | 49 |  |  | $ | 19 |  |  | $ | — |  |  | $ | 36 |  |  | $ | (53) |  |  | $ | 199 |
2024 |  | 135 |  |  | 65 |  |  | 11 |  |  | (9) |  |  | 33 |  |  | (322) |  |  | (87) |
Intersegment sales |  |  |  |  |  |  |  |  |  |  |  |  |  |
2025 |  | $ | 30 |  |  | $ | 330 |  |  | $ | 11 |  |  | $ | — |  |  | $ | — |  |  | $ | (371) |  |  | $ | — |
2024 |  | 33 |  |  | 303 |  |  | 10 |  |  | 23 |  |  | 10 |  |  | (379) |  |  | — |
Total assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
March 31, 2025 |  | $ | 9,936 |  |  | $ | 3,832 |  |  | $ | 1,239 |  |  | $ | — |  |  | $ | 1,012 |  |  | $ | 494 |  |  | $ | 16,514 |
December 31, 2024 |  | 9,693 |  |  | 3,813 |  |  | 1,147 |  |  | — |  |  | 1,087 |  |  | 561 |  |  | 16,301 |
Capital expenditures |  |  |  |  |  |  |  |  |  |  |  |  |  |
2025 |  | $ | 39 |  |  | $ | 28 |  |  | $ | 3 |  |  | $ | — |  |  | $ | 2 |  |  | $ | — |  |  | $ | 72 |
2024 |  | 42 |  |  | 40 |  |  | 3 |  |  | 22 |  |  | 2 |  |  | 6 |  |  | 115 |
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |
2025 |  | $ | 44 |  |  | $ | 16 |  |  | $ | 4 |  |  | $ | — |  |  | $ | 4 |  |  | $ | 15 |  |  | $ | 83 |
2024 |  | 48 |  |  | 18 |  |  | 6 |  |  | — |  |  | 3 |  |  | 14 |  |  | 89 |
(1) MDA Europe consisted of our European major domestic appliance business which was contributed to Beko Europe as of April 1, 2024. 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 |  |  |  | 2025 | 2024
Items not allocated to segments: |  |  |  |  |
Restructuring charges |  |  |  | $ | (10) |  | $ | (23) |
(Loss) gain on sale and disposal of businesses |  |  |  | — |  | (247) |
Corporate expenses and other |  |  |  | (43) |  | (52) |
Total other/eliminations |  |  |  | $ | (53) |  | $ | (322) |
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 |  |  |  |  | 2025 | 2024
Operating profit |  |  |  |  | $ | 184 |  | $ | (116) |
Interest and sundry (income) expense |  |  |  |  | (32) |  | (29) |
Equity method investment income (loss), net of tax |  |  |  |  | (17) |  | — |
Total EBIT |  |  |  |  | $ | 199 |  | $ | (87) |
Interest expense |  |  |  |  | 77 |  | 90 |
Income tax expense |  |  |  |  | 43 |  | 76 |
Net earnings (loss) |  |  |  |  | $ | 79 |  | $ | (253) |
Less: Net earnings available to noncontrolling interests |  |  |  |  | 7 |  | 6 |
Net earnings (loss) available to Whirlpool |  |  |  |  | $ | 71 |  | $ | (259) |

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