SEGMENT INFORMATION

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

SEGMENT INFORMATION

SEGMENT INFORMATION

Our reportable segments are based upon geographical region and are defined as North America, EMEA, Latin America and Asia. These regions also represent our operating segments. Each segment manufactures home appliances and related components, but serves strategically different marketplaces. 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 region.

The tables below summarize performance by operating segment for the periods presented:

	Three Months Ended June 30,
	OPERATING SEGMENTS
	North America		EMEA		Latin America		Asia		Other / Eliminations		Total Whirlpool
Net sales
2023	$	2,824	$	854	$	819	$	295	$	—	$	4,792
2022	2,964		1,008		787		338		—		5,097
Intersegment sales
2023	$	50	$	22	$	376	$	10	$	(458)	$	—
2022	92		24		404		11		(531)		—
Depreciation and amortization
2023	$	51	$	—	$	17	$	6	$	15	$	89
2022	42		35		16		5		16		114
EBIT
2023	$	290	$	17	$	53	$	11	$	(81)	$	290
2022	417		2		57		23		(785)		(286)
Total assets
June 30, 2023	$	11,185	$	2,151	$	4,694	$	1,588	$	(2,637)	$	16,981
December 31, 2022	10,913		5,240		4,343		1,516		(4,888)		17,124
Capital expenditures
2023	$	49	$	22	$	30	$	1	$	19	$	121
2022	39		23		38		11		19		130

	Six Months Ended June 30,
	OPERATING SEGMENTS
	North America		EMEA		Latin America		Asia		Other / Eliminations		Total Whirlpool
Net sales
2023	$	5,571	$	1,743	$	1,576	$	551	$	—	$	9,441
2022	5,755		2,092		1,547		623		—		10,017
Intersegment sales
2023	$	108	$	45	$	753	$	21	$	(927)	$	—
2022	164		48		763		22		(997)		—
Depreciation and amortization
2023	$	103	$	—	$	34	$	11	$	30	$	178
2022	85		70		32		10		29		226
EBIT
2023	$	564	$	22	$	92	$	19	$	(440)	$	257
2022	871		(25)		111		36		(816)		177
Total assets
June 30, 2023	$	11,185	$	2,151	$	4,694	$	1,588	$	(2,637)	$	16,981
December 31, 2022	10,913		5,240		4,343		1,516		(4,888)		17,124
Capital expenditures
2023	$	96	$	41	$	45	$	4	$	31	$	217
2022	69		35		61		17		35		217

Assets of $3.6 billion and $3.4 billion associated with our European major domestic appliance business has been classified as assets held for sale at June 30, 2023 and December 31, 2022, respectively. Temporary fluctuations in regional assets are expected throughout the remainder of 2023 due to intercompany activity required by the expected contribution of the European major domestic appliance business. These changes are eliminated at the total entity level. See Note 13 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 June 30,				Six Months Ended June 30,
in millions	2023		2022		2023		2022
Items not allocated to segments:
Restructuring charges	$	(9)	$	(5)	$	(9)	$	(10)
Legacy EMEA legal matters	(36)		—		(98)		—
Impairment of goodwill and other intangibles	—		(384)		—		(384)
Gain (loss) on sale and disposal of businesses	(18)		(346)		(240)		(346)
Corporate expenses and other	(18)		(50)		(93)		(76)
Total other/eliminations	$	(81)	$	(785)	$	(440)	$	(816)

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 June 30,				Six Months Ended June 30,
in millions	2023		2022		2023		2022
Operating profit	$	303	$	(306)	$	346	$	155
Interest and sundry (income) expense	10		(19)		87		(26)
Equity method investment income (loss), net of tax	(3)		1		(2)		(4)
Total EBIT	$	290	$	(286)	$	257	$	177
Interest expense	89		45		164		86
Income tax expense	114		37		182		143
Net earnings (loss)	$	87	$	(368)	$	(89)	$	(52)
Less: Net earnings available to noncontrolling interests	2		3		5		6
Net earnings (loss) available to Whirlpool	$	85	$	(371)	$	(94)	$	(58)