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Stockholders' Equity (Tables)
9 Months Ended
Sep. 30, 2021
Stockholders' Equity Note [Abstract]  
Schedule of Stockholders Equity
The following table summarizes the changes in stockholders' equity for the periods presented:
  Whirlpool Stockholders' Equity 
 TotalRetained
Earnings
Accumulated Other Comprehensive Income (Loss)Treasury Stock / Additional Paid-In-CapitalCommon
Stock
Non-Controlling Interest (1)
Balances, December 31, 2020$4,795 $8,725 $(2,811)$(2,142)$113 $910 
Comprehensive income
Net earnings440 433    7 
Other comprehensive income 124  124    
Comprehensive income564 433 124   7 
Stock issued (repurchased)(141)  (141)  
Dividends declared(79)(79)    
Balances, March 31, 20215,139 9,079 (2,687)(2,283)113 917 
Comprehensive income
Net earnings580 581    (1)
Other comprehensive income 229  228   1 
Comprehensive income809 581 228    
Stock issued (repurchased)8   7 1  
Dividends declared(88)(88)    
Divestitures(783)    (783)
Balances, June 30, 20215,085 9,572 (2,459)(2,276)114 134 
Comprehensive income
Net earnings486 471    15 
Other comprehensive income 46  47   (1)
Comprehensive income532 471 47   14 
Stock issued (repurchased)(419)  (419)  
Dividends declared(88)(86)   (2)
Acquisitions(2)
19     19 
Balances, September 30, 2021$5,129 $9,957 $(2,412)$(2,695)$114 $165 
(1)Decrease of $783 million in noncontrolling interest is mainly due to the deconsolidation of Whirlpool China. For additional information, see Note 15 to the Consolidated Condensed Financial Statements.
(2)Amount reflects the fair value of Elica PB India non-controlling interest.
  Whirlpool Stockholders' Equity 
 TotalRetained
Earnings
Accumulated Other Comprehensive Income (Loss)Treasury Stock / Additional Paid-In-CapitalCommon
Stock
Non-Controlling Interest
Balances, December 31, 2019$4,210 $7,962 $(2,618)$(2,169)$112 $923 
Comprehensive income
Net earnings149 154 — — — (5)
Other comprehensive income(95)— (97)— — 
Comprehensive income54 154 (97)— — (3)
Stock issued (repurchased)(115)— — (115)— — 
Dividends declared(75)(75)— — — — 
Balances, March 31, 2020$4,074 $8,041 $(2,715)$(2,284)$112 $920 
Comprehensive income
Net earnings20 30 — — — (10)
Other comprehensive income(16)— (16)— — — 
Comprehensive income30 (16)— — (10)
Stock issued (repurchased)19 — — 19 — — 
Dividends declared(83)(80)— — — (3)
Balances, June 30, 20204,014 7,991 (2,731)(2,265)112 907 
Comprehensive income
Net earnings393 392 — — — 
Other comprehensive income(23)— (23)— — — 
Comprehensive income370 392 (23)— — 
Stock issued (repurchased)55 — — 54 — 
Dividends declared(77)(76)— — — (1)
Balances, September 30, 2020$4,362 $8,307 $(2,754)$(2,211)$113 $907 
Schedule of Other Comprehensive Income
The following table summarizes our other comprehensive income (loss) and related tax effects for the periods presented:
Three Months Ended September 30,
20212020
Millions of dollarsPre-taxTax EffectNetPre-taxTax EffectNet
Currency translation adjustments (2)
$8 (2)$6 $(117)$(112)
Cash flow hedges50 (14)36 — — — 
Pension and other postretirement benefits plans9 (5)4 118 (29)89 
Other comprehensive income (loss)67 (21)46 (24)(23)
Less: Other comprehensive income (loss) available to noncontrolling interests(1) (1)— — — 
Other comprehensive income (loss) available to Whirlpool$68 $(21)$47 $$(24)$(23)
Nine Months Ended September 30,
20212020
Millions of dollarsPre-taxTax EffectNetPre-taxTax EffectNet
Currency translation adjustments (2)
$334 $(1)$333 $(350)$(12)$(362)
Cash flow hedges58 (21)37 118 (25)93 
Pension and other postretirement benefits plans42 (13)29 180 (44)136 
Other comprehensive income (loss)434 (35)399 (52)(81)(133)
Less: Other comprehensive income (loss) available to noncontrolling interests   — 
Other comprehensive income (loss) available to Whirlpool$434 $(35)$399 $(54)$(81)$(135)
(2)Currency translation adjustments includes net investment hedges.
Reclassifications Out of Accumulated Other Comprehensive Income
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 nine months ended September 30, 2021:
Three Months EndedNine Months Ended
Millions of dollars(Gain) Loss Reclassified(Gain) Loss ReclassifiedClassification in Earnings
Pension and postretirement benefits, pre-tax$9 $34 Interest and sundry (income) expense
Currency translation related to divestitures$ $(198)(Gain) loss on sale and disposal of businesses
Total$9 $(164)
Schedule of Calculation of Numerator and Denominator in Earnings Per Share Basic and diluted net earnings per share of common stock for the periods presented were calculated as follows:
Three Months Ended September 30, Nine Months Ended September 30,
Millions of dollars and shares2021202020212020
Numerator for basic and diluted earnings per share - Net earnings (loss) available to Whirlpool$471 $392 $1,485 $576 
Denominator for basic earnings per share - weighted-average shares62.2 62.6 62.7 62.6 
Effect of dilutive securities - share-based compensation0.5 0.7 0.5 0.5 
Denominator for diluted earnings per share - adjusted weighted-average shares62.7 63.3 63.2 63.1 
Anti-dilutive stock options/awards excluded from earnings per share0.1 1.1 0.1 1.7