STOCKHOLDERS' EQUITY

3 Months Ended

Mar. 31, 2024

Stockholders' Equity Note [Abstract]

STOCKHOLDERS' EQUITY

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

			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

Other Comprehensive Income (Loss)

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

	Three Months Ended March 31,
	2024						2023
Millions of dollars	Pre-tax		Tax Effect		Net		Pre-tax		Tax Effect		Net
Currency translation adjustments	$	(29)	$	—	$	(29)	$	(1)	$	—	$	(1)
Cash flow hedges	33		(9)		24		(16)		5		(11)
Pension and other postretirement benefits plans	10		(2)		8		13		(2)		11
Other comprehensive income (loss)	14		(11)		3		(4)		3		(1)
Less: Other comprehensive income (loss) available to noncontrolling interests	—		—		—		—		—		—
Other comprehensive income (loss) available to Whirlpool	$	14	$	(11)	$	3	$	(4)	$	3	$	(1)

Reclassifications Out of Accumulated Other Comprehensive Income (Loss)

There were no material net impacts of the reclassification adjustments out of accumulated other comprehensive income (loss) included in net earnings (loss) for the three months ended March 31, 2024.

Net earnings (loss) per Share

Diluted net earnings (loss) per share of common stock include the dilutive effect of stock options and other share-based compensation plans. Basic and diluted net earnings (loss) per share of common stock for the periods presented were calculated as follows:

	Three Months Ended March 31,
Millions of dollars and shares	2024		2023
Numerator for basic and diluted earnings per share - Net earnings (loss) available to Whirlpool	$	(259)	$	(179)
Denominator for basic earnings per share - weighted-average shares	54.9		54.8
Denominator for diluted earnings per share - adjusted weighted-average shares	54.9		54.8
Anti-dilutive stock options/awards excluded from earnings per share	1.2		0.9

Share Repurchase Program

On April 19, 2021, our Board of Directors authorized a share repurchase program of up to $2 billion, which has no expiration date. On February 14, 2022, the Board of Directors authorized an additional $2 billion in share repurchases under the Company's ongoing share repurchase program. During the three months ended March 31, 2024, we repurchased 456 thousand shares under the share repurchase program at an aggregate price of approximately $50 million. At March 31, 2024, there were approximately $2.5 billion in remaining funds authorized under this program.

Share repurchases are made from time to time on the open market as conditions warrant. The program does not obligate us to repurchase any of our shares and have no expiration date.