WHIRLPOOL CORP /DE/, 10-Q filed on 4/25/2024
Quarterly Report
v3.24.1.u1
Cover Page - shares
 3 Months Ended
Mar. 31, 2024
Apr. 19, 2024
Entity Information [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 31, 2024  
Document Transition Report false  
Entity File Number 1-3932  
Entity Registrant Name WHIRLPOOL CORP /DE/  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 38-1490038  
Entity Address, Address Line One 2000 North M-63  
Entity Address, City or Town Benton Harbor,  
Entity Address, State or Province MI  
Entity Address, Postal Zip Code 49022-2692  
City Area Code 269  
Local Phone Number 923-5000  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding (in shares)   54,635,670
Entity Central Index Key 0000106640  
Amendment Flag false  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2024  
Document Fiscal Period Focus Q1  
Chicago Stock Exchange    
Entity Information [Line Items]    
Title of 12(b) Security Common stock, par value $1.00 per share  
Trading Symbol WHR  
Security Exchange Name CHX  
New York Stock Exchange    
Entity Information [Line Items]    
Title of 12(b) Security Common stock, par value $1.00 per share  
Trading Symbol WHR  
Security Exchange Name NYSE  
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CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Statement of Comprehensive Income [Abstract]    
Net sales $ 4,490 $ 4,649
Expenses    
Cost of products sold 3,848 3,886
Gross margin 642 763
Selling, general and administrative 477 487
Intangible amortization 11 11
Restructuring costs 23 0
Loss (gain) on sale and disposal of businesses 247 222
Operating (loss) profit (116) 43
Other (income) expense    
Interest and sundry (income) expense (29) 77
Interest expense 90 75
Earnings (loss) before income taxes (177) (109)
Income tax expense (benefit) 76 68
Equity method investment income (loss), net of tax 0 1
Net earnings (loss) (253) (176)
Less: Net earnings (loss) available to noncontrolling interests 6 3
Net earnings (loss) available to Whirlpool $ (259) $ (179)
Per share of common stock    
Basic net earnings (loss) available to Whirlpool (in USD per share) $ (4.72) $ (3.27)
Diluted net earnings (loss) available to Whirlpool (in USD per share) (4.72) (3.27)
Dividends declared (in USD per share) $ 1.75 $ 1.75
Weighted-average shares outstanding (in millions)    
Basic (in shares) 54.9 54.8
Diluted (in shares) 54.9 54.8
Comprehensive income (loss) $ (250) $ (177)
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CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 1,231 $ 1,570
Accounts receivable, net of allowance of $49 and $47, respectively 1,707 1,529
Inventories 2,381 2,247
Prepaid and other current assets 646 717
Assets held for sale 227 144
Total current assets 6,192 6,207
Property, net of accumulated depreciation of $5,322 and $5,259, respectively 2,240 2,234
Right of use assets 859 721
Goodwill 3,328 3,330
Other intangibles, net of accumulated amortization of $449 and $440, respectively 3,115 3,124
Deferred income taxes 1,283 1,317
Other noncurrent assets 353 379
Total assets 17,370 17,312
Current liabilities    
Accounts payable 3,404 3,598
Accrued expenses 459 491
Accrued advertising and promotions 446 603
Employee compensation 152 238
Notes payable 500 17
Current maturities of long-term debt 500 800
Other current liabilities 512 614
Liabilities held for sale 577 587
Total current liabilities 6,550 6,948
Noncurrent liabilities    
Long-term debt 6,674 6,414
Pension benefits 136 147
Postretirement benefits 105 107
Lease liabilities 759 612
Other noncurrent liabilities 536 547
Total noncurrent liabilities 8,210 7,827
Stockholders' equity    
Common stock, $1 par value, 250 million shares authorized, 114 million and 114 million shares issued, respectively, and 55 million and 55 million shares outstanding, respectively 114 114
Additional paid-in capital 3,448 3,078
Retained earnings 8,004 8,358
Accumulated other comprehensive loss (2,157) (2,178)
Treasury stock, 60 million and 60 million shares, respectively (7,055) (7,010)
Total Whirlpool stockholders' equity 2,354 2,362
Noncontrolling interests 256 175
Total stockholders' equity 2,610 2,537
Total liabilities and stockholders' equity $ 17,370 $ 17,312
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CONSOLIDATED CONDENSED BALANCE SHEETS (Parenthetical) - USD ($)
shares in Millions, $ in Millions
Mar. 31, 2024
Dec. 31, 2023
Statement of Financial Position [Abstract]    
Allowance for doubtful accounts $ 49 $ 47
Accumulated depreciation 5,322 5,259
Accumulated amortization $ 449 $ 440
Common stock, par value (in USD per share) $ 1 $ 1
Common stock, shares authorized (in shares) 250 250
Common stock, shares issued (in shares) 114 114
Common stock, shares outstanding (in shares) 55 55
Treasury stock (in shares) 60 60
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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities    
Net earnings (loss) $ (253) $ (176)
Adjustments to reconcile net earnings to cash provided by (used in) operating activities:    
Depreciation and amortization 89 89
Loss (gain) on sale and disposal of businesses 247 222
Changes in assets and liabilities:    
Accounts receivable (266) (155)
Inventories (113) (284)
Accounts payable (236) (24)
Accrued advertising and promotions (199) (229)
Accrued expenses and current liabilities (122) 99
Taxes deferred and payable, net 65 43
Accrued pension and postretirement benefits (8) (14)
Employee compensation (64) 3
Other (13) (51)
Cash provided by (used in) operating activities (873) (477)
Investing activities    
Capital expenditures (115) (96)
Acquisition of businesses, net of cash acquired 0 (14)
Cash provided by (used in) investing activities (115) (110)
Financing activities    
Net proceeds from borrowings of long-term debt 300 303
Net proceeds (repayments) of long-term debt (300) (250)
Net proceeds (repayments) from short-term borrowings 501 9
Dividends paid (95) (97)
Repurchase of common stock (50) 0
Sale of minority interest in subsidiary 462 0
Common stock issued 0 1
Other 0 (4)
Cash provided by (used in) financing activities 818 (38)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (20) 27
Less: change in cash classified as held for sale (149) (1)
Increase (decrease) in cash, cash equivalents and restricted cash (339) (599)
Cash, cash equivalents and restricted cash at beginning of year 1,570 1,958
Cash, cash equivalents and restricted cash at end of period $ 1,231 $ 1,359
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BASIS OF PRESENTATION
 3 Months Ended
Mar. 31, 2024
Accounting Policies [Abstract]  
BASIS OF PRESENTATION BASIS OF PRESENTATION
General Information
The accompanying unaudited Consolidated Condensed Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information, and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all information or footnotes required by U.S. GAAP for complete financial statements. As a result, this Form 10-Q should be read in conjunction with the Consolidated Financial Statements and accompanying Notes in our Form 10-K for the year ended December 31, 2023.
Management believes that the accompanying Consolidated Condensed Financial Statements reflect all adjustments, including normal recurring items, considered necessary for a fair presentation of the interim periods.
We are required to make estimates and assumptions that affect the amounts reported in the Consolidated Condensed Financial Statements and accompanying Notes. Actual results could differ materially from those estimates.
We have eliminated all material intercompany transactions in our Consolidated Condensed Financial Statements. We do not consolidate the financial statements of any company in which we have an ownership interest of 50% or less, unless that company is deemed to be a variable interest entity ("VIE") of which we are the primary beneficiary. VIEs are consolidated when the company is the primary beneficiary of these entities and has the ability to directly impact the activities of these entities.
Risks and Uncertainties
Macroeconomic volatility, as well as ongoing international conflicts, continues to impact countries across the world, and the duration and severity of the effects are currently unknown. During the quarter, we continued experiencing some disruption from these conflicts, primarily in Europe due to the conflict in Ukraine. The duration and severity of the effects on our business and the global economy are inherently unpredictable. We have some sales and distribution operations in Ukraine; however, the revenues and net assets are not material to our Major Domestic Appliances Europe ("MDA Europe") operating segment and consolidated results. Our Ukraine business was part of the major domestic appliance European transaction, which was completed on April 1, 2024. For additional information, see Note 14 to the Consolidated Condensed Financial Statements.
The Consolidated Condensed Financial Statements presented herein reflect estimates and assumptions made by management at March 31, 2024.
These estimates and assumptions affect, among other things, the Company’s goodwill, long-lived asset and indefinite-lived intangible asset valuation; inventory valuation; assessment of the annual effective tax rate; valuation of deferred income taxes and income tax contingencies; and the allowance for expected credit losses and bad debt. Events and changes in circumstances arising after April 25, 2024, including those resulting from the impacts of macroeconomic volatility, as well as the ongoing international conflicts, will be reflected in management’s estimates for future periods.
Goodwill and Indefinite-lived Intangible Assets
We continue to monitor the significant global economic uncertainty to assess the outlook for demand for our products and the impact on our business and our overall financial performance. Our Maytag and InSinkErator trademarks continue to be at risk at March 31, 2024. The goodwill in our reporting units or other indefinite-lived intangible assets are not presently at risk for future impairment.
The potential impact of demand disruptions, production impacts or supply constraints along with a number of other factors could negatively affect revenues for the Maytag and InSinkErator trademarks, but we remain committed to the strategic actions necessary to realize the long-term forecasted revenues and profitability of these trademarks.
A lack of recovery or further deterioration in market conditions, a sustained trend of weaker than expected financial performance for our Maytag and InSinkErator trademarks, among other factors, as a result of the macroeconomic factors or other unforeseen events could result in an impairment charge in future periods which could have a material adverse effect on our financial statements.
As a result of our analysis, and in consideration of the totality of events and circumstances, there were no triggering events of impairment identified during the first quarter of 2024.
Income taxes
Under U.S. GAAP, the Company calculates its quarterly tax provision based on an estimated effective tax rate for the year and then adjusts this amount by certain discrete items each quarter. Potential changing and volatile macro-economic conditions could cause fluctuations in forecasted earnings before income taxes. As such, the Company's effective tax rate could be subject to volatility as forecasted earnings before income taxes are impacted by events which cannot be predicted.
In addition, potential future economic deterioration brought on by the pandemic, ongoing international conflicts, and related sanctions or other factors, such as potential sales of businesses and new tax legislation may negatively impact the realizability and/or valuation of certain deferred tax assets.  
Other Accounting Matters
Synthetic Lease Arrangements
We have a number of synthetic lease arrangements with financial institutions for non-core properties. The leases contain provisions for options to purchase, extend the original term for additional periods or return the property. As of March 31, 2024 and December 31, 2023, these arrangements include residual value guarantees of up to approximately $378 million and $378 million, respectively, that could potentially come due in future periods. We do not believe it is probable that any material amounts will be owed under these guarantees. Therefore, no material amounts related to the residual value guarantees are included in the lease payments used to measure the right-of-use assets and lease liabilities.
The majority of these leases are classified as operating leases. We have assessed the reasonable certainty of these provisions to determine the appropriate lease term. The leases were measured using our incremental borrowing rate and are included in our right of use assets and lease liabilities in the Consolidated Condensed Balance Sheets. Rental payments are calculated at the applicable reference rate plus an additional amount based on the terms of the lease. The impact to the Consolidated Condensed Balance Sheets and Consolidated Condensed Statements of Comprehensive Income (Loss) is nominal.
Supply Chain Financing Arrangements
The Company has ongoing agreements globally with various third-parties to provide certain suppliers the opportunity to sell receivables due from us to participating financial institutions at the sole discretion of both the suppliers and the financial institutions. Under these agreements, the average payment terms range from 120 to 180 days and are based on industry standards and best practices within each of our global regions. Whirlpool has no assets pledged as part of our global programs.
We have no economic interest in the sale of these receivables and no direct financial relationship with the financial institutions concerning these services. For certain arrangements, the Company will guarantee receivables due from wholly-owned subsidiaries. Our obligations to suppliers, including amounts due and scheduled payment terms, are not impacted. All outstanding balances under these programs are recorded in accounts payable on our Consolidated Condensed Balance Sheets. The following table summarizes the changes in outstanding obligations for the periods presented:
Millions of dollarsOutstanding Obligations
Confirmed obligations outstanding as of December 31, 2023$843
Invoices confirmed during the period641
Confirmed invoices paid during the period(691)
Impact of foreign currency(1)
Confirmed obligations outstanding as of March 31, 2024$792
Obligations outstanding and activities during the period related to our European major domestic appliance business have been excluded from the table above. The obligations outstanding amounted to $395 million and $393 million as of March 31, 2024 and December 31, 2023, respectively.
A downgrade in our credit rating or changes in the financial markets could limit the financial institutions’ willingness to commit funds to, and participate in, the programs. We do not believe such risk would have a material impact on our working capital or cash flows.
Equity Method Investments
Whirlpool holds an equity interest of 20% in Whirlpool (China) Co., Ltd. (Whirlpool China), an entity which was previously controlled by the Company. The following tables summarize balances and transactions with Whirlpool China and its subsidiaries during the periods presented.
Millions of dollarsMarch 31, 2024December 31, 2023
Other noncurrent assetsCarrying value of equity interest$189 $187 
Accounts payableOutstanding amounts due$88 $91 
Millions of dollarsThree Months Ended March 31,
20242023
Purchases from Whirlpool China$77 $59 
The licensing revenue and outstanding accounts receivable from Whirlpool China and its subsidiaries are not material for the periods presented.
The market value of our 20% investment in Whirlpool China, based on the quoted market price, is $177 million as of March 31, 2024. Management has concluded that there are currently no indicators for an other-than-temporary impairment.
Related Parties
The Company has a controlling equity ownership of 87% in Elica PB India which is consolidated in Whirlpool Corporation's financial statements and is reported within our MDA Asia reportable segment. Elica PB India is a VIE for which the Company is the primary beneficiary. The carrying amount of customer relationships, which are included in Other intangible assets, net of accumulated amortization, amounts to $28 million as of March 31, 2024 and $29 million as of December 31, 2023, respectively. Other assets or liabilities of Elica PB India are not material to the Consolidated Condensed Financial Statements of the Company for the periods presented.
Both Whirlpool India and the non-controlling interest shareholders retain an option for Whirlpool India to purchase the remaining equity interest in Elica PB India for fair value, which could be material to the financial statements of the Company, depending on the performance of the business.
Accounting Pronouncements Issued But Not Yet Effective
In November 2023, the FASB issued Update 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures". This Update applies to all public entities that are required to report segment information in accordance with Topic 280. The amendments in this Update revise reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The amendments in this Update do not change how a public entity identifies its operating segments, aggregates those operating segments, or applies the quantitative thresholds to determine its reportable segments. The new standard is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The standard should be applied retrospectively to all prior periods presented in the financial statements. The Company is currently evaluating the impact of adopting this new standard.
In December 2023, the FASB issued Update 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures". This Update applies to all entities that are subject to Topic 740. The amendments in this Update revise income tax disclosures primarily related to the rate reconciliation and income taxes paid information as well as the effectiveness of certain other income tax disclosures. The new standard is effective for annual periods beginning after December 15, 2024. Early adoption is permitted. The standard should be applied on a prospective basis, but retrospective application is permitted. The Company is currently evaluating the impact of adopting this new standard.
All other issued and not yet effective accounting standards are not relevant or material to the Company.
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REVENUE RECOGNITION
 3 Months Ended
Mar. 31, 2024
Revenue from Contract with Customer [Abstract]  
REVENUE RECOGNITION REVENUE RECOGNITION
Disaggregation of Revenue
The following table presents our disaggregated revenues by revenue source. For additional information on the disaggregated revenues by operating segment, see Note 13 to the Consolidated Condensed Financial Statements.
Three Months Ended March 31,
Millions of dollars20242023
Major product categories:
Laundry$1,264 $1,295 
Refrigeration1,254 1,372 
Cooking1,063 1,092 
Dishwashing428 432 
Total major product category net sales $4,009 $4,191 
Spare parts and warranties239 236 
Other242 222 
Total net sales$4,490 $4,649 
Other revenue sources include primarily the revenues from the InSinkErator business, subscription arrangements and licenses.
The impact to revenue related to prior period performance obligations is less than 1% of global consolidated revenues for the three months ended March 31, 2024.

Allowance for Expected Credit Losses and Bad Debt Expense
We estimate our expected credit losses and bad debt expense primarily by using an aging methodology and establish customer-specific reserves for higher risk trade customers. Our expected credit losses and bad debt expense are evaluated and controlled within each geographic region considering the unique credit risk specific to the country, marketplace and economic environment. We take into account past events, current conditions and reasonable and supportable forecasts in developing the reserve.
The following table summarizes our allowance for expected credit losses and bad debt expense by operating segment for the three months ended March 31, 2024:
Millions of dollars
December 31, 2023 (1)
Charged to EarningsWrite-offsForeign CurrencyMarch 31, 2024
Accounts receivable allowance
MDA North America$4 $— $— $— $4 
MDA Latin America38 2 (1)1 40 
MDA Asia3 — — — 3 
SDA Global2 — — — 2 
Consolidated$47 $2 $(1)$1 $49 
Financing receivable allowance
MDA Latin America$29 $— $— $(1)$28 
Consolidated$76 $2 $(1)$— $77 
(1) Effective January 1, 2024, we reorganized our operating segment structure. All prior period amounts have been reclassified to conform with current period presentation. For additional information, see Note 13 to the Consolidated Condensed Financial Statements.
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INVENTORIES
 3 Months Ended
Mar. 31, 2024
Inventory, Net [Abstract]  
INVENTORIES INVENTORIES
The following table summarizes our inventories at March 31, 2024 and December 31, 2023:
Millions of dollarsMarch 31, 2024December 31, 2023
Finished products$1,858 $1,732 
Raw materials and work in process523 515 
Total Inventories$2,381 $2,247 
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PROPERTY, PLANT AND EQUIPMENT
 3 Months Ended
Mar. 31, 2024
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT PROPERTY, PLANT AND EQUIPMENT
The following table summarizes our property, plant and equipment at March 31, 2024 and December 31, 2023:
Millions of dollarsMarch 31, 2024December 31, 2023
Land$29 $29 
Buildings940 893 
Machinery and equipment6,593 6,571 
Accumulated depreciation(5,322)(5,259)
Property, plant and equipment, net $2,240 $2,234 
During the three months ended March 31, 2024, we disposed of land, buildings, machinery and equipment with a net book value of $2 million, compared to $1 million in the same period of 2023. The net gain on the disposals was not material for the three months ended March 31, 2024 and 2023, respectively.
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FINANCING ARRANGEMENTS
 3 Months Ended
Mar. 31, 2024
Debt Disclosure [Abstract]  
FINANCING ARRANGEMENTS FINANCING ARRANGEMENTS
Debt Offering
On February 22, 2024, the Company entered into an Underwriting Agreement (the "Underwriting Agreement") with SMBC Nikko Securities America, Inc., BNP Paribas Securities Corp., ING Financial Markets LLC, Mizuho Securities USA LLC, Scotia Capital (USA) Inc. and SG Americas Securities, LLC, as representatives of the several underwriters named therein, relating to the offering by the Company of $300 million aggregate principal amount of 5.750% Senior Notes due 2034 (the "Notes"), in a public offering pursuant to a registration statement on Form S-3 (File No. 333-276169), and a preliminary prospectus supplement and prospectus
supplement related to the offering of the Notes, each as previously filed with the Securities and Exchange Commission (the "Commission"). On February 27, 2024, the Company closed its offering of the Notes. The Notes contain covenants that limit the Company's ability to incur certain liens or enter into certain sale and lease-back transactions. In addition, if we experience a specific kind of change of control, we are required to make an offer to purchase all of the notes at a purchase price of 101% of the principal amount thereof, plus accrued and unpaid interest. The Company used the net proceeds from the sale of the Notes, together with cash on hand, to repay, at maturity, all $300 million aggregate principal amount of the Company's 4.000% Notes due March 1, 2024.

On February 22, 2023, the Company completed its offering of $300 million aggregate principal amount of 5.500% Senior Notes due 2033 (the “2033 Notes”), in a public offering pursuant to a registration statement on Form S-3 (File No. 333-255372). The 2033 Notes were issued under an indenture (the “Indenture”), dated March 20, 2000, between the Company, as issuer, and U.S. Bank Trust Company, National Association (as successor to U.S. Bank, National Association and Citibank, N.A.), as trustee. The sale of the 2033 Notes was made pursuant to the terms of an Underwriting Agreement, dated February 14, 2023, with BNP Paribas Securities Corp., ING Financial Markets LLC, Mizuho Securities USA LLC, SMBC Nikko Securities America, Inc. and SG Americas Securities, LLC, as representatives of the several underwriters in connection with the offering and sales of the 2033 Notes. The 2033 Notes contain covenants that limit the Company's ability to incur certain liens or enter into certain sale and lease-back transactions. In addition, if we experience a specific kind of change of control, we are required to make an offer to purchase all of the notes at a purchase price of 101% of the principal amount thereof, plus accrued and unpaid interest. The Company used the net proceeds from the sale of the 2033 Notes to repay $250 million aggregate principal amount of 3.700% Notes which were paid on March 1, 2023, and for general corporate purposes.
Term Loan Agreement
On September 23, 2022, the Company entered into a Term Loan Agreement by and among the Company, Sumitomo Mitsui Banking Corporation (“SMBC”), as Administrative Agent and Syndication Agent and as lender, and certain other financial institutions as lenders. SMBC, BNP Paribas, ING Bank N.V., Dublin Branch, Mizuho Bank, Ltd., and Societe Generale acted as Joint Lead Arrangers and Syndication Agents; The Bank of Nova Scotia and Bank of China, Chicago Branch acted as Documentation Agents; and SMBC acted as Sole Bookrunner for the Term Loan Agreement. The Term Loan Agreement provides for an aggregate lender commitment of $2.5 billion. The Company utilized proceeds from the term loan facility on a delayed draw basis to fund a majority of the $3.0 billion purchase price consideration for the Company’s acquisition from Emerson Corporation (“Emerson”) of Emerson’s InSinkErator business, as set forth in the Asset and Stock Purchase Agreement between Whirlpool and Emerson dated as of August 7, 2022 (the “Acquisition Agreement”).
The outstanding amount for this term loan at March 31, 2024 is $2.0 billion, of which $500 million is classified in current liabilities on the Consolidated Condensed Balance Sheet. The term loan facility is divided into two tranches: a $1 billion tranche with a maturity date of April 30, 2024, of which $500 million was repaid in December 2023 and the remaining $500 million was repaid in April 2024; and a $1.5 billion tranche with a maturity date of October 31, 2025.
The interest and fee rates payable with respect to the term loan facility based on the Company's current debt rating are as follows: (1) the spread over secured overnight financing rate ("SOFR") for the 18-month tranche (fully repaid as of April 2024) is 0.975%; (2) the spread over SOFR for the 3-year tranche is 1.225%; (3) the spread over prime for both tranches is zero; and (4) the ticking fee for both tranches is 0.125%, as of the date hereof.
The Term Loan Agreement contains customary covenants and warranties including, among other things, a rolling twelve month interest coverage ratio required to be greater than or equal to 3.0 for each fiscal quarter. In addition, the covenants limit the Company's ability to (or to permit any subsidiaries to), subject to various exceptions and limitations: (i) merge with other companies; (ii) create liens on its property; and (iii) incur debt at the subsidiary level. We were in compliance with our interest coverage ratio under the term loan agreement as of March 31, 2024.
Credit Facilities
On May 3, 2022, the Company entered into a Fifth Amended and Restated Long-Term Credit Agreement (the “Amended Long-Term Facility”) by and among the Company, certain other borrowers, the lenders referred to therein, JPMorgan Chase Bank, N.A. as Administrative Agent, and Citibank, N.A., as Syndication Agent. BNP Paribas, Mizuho Bank, Ltd. and Wells Fargo Bank, National Association acted as Documentation Agents. JPMorgan Chase Bank, N.A., BNP Paribas Securities Corp., Citibank, N.A., Mizuho Bank, Ltd. and Wells Fargo Securities, LLC acted as Joint Lead Arrangers and Joint Bookrunners for the Amended Long-Term Facility. Consistent with the Company’s prior credit agreement, the Amended Long-Term Facility provides an aggregate borrowing capacity of $3.5 billion. The facility has a maturity date of May 3, 2027, unless earlier terminated.

The interest rate payable with respect to the Amended Long-Term Facility is based on the Company’s current debt rating, Term SOFR (Secured Overnight Financing Rate) + 1.125% interest rate margin per annum (with a 0.10% SOFR spread adjustment) or the Alternate Base Rate + 0.125% per annum, at the Company’s election.

The Amended Long-Term Facility contains customary covenants and warranties, such as, among other things, a rolling four quarter interest coverage ratio required to be greater than or equal to 3.0 as of the end of each fiscal quarter. The Amended Long-Term Facility also includes limitations on the Company’s ability to (or to permit any subsidiaries to), subject to various exceptions and limitations: (i) merge with other companies; (ii) create liens on its property; and (iii) incur debt at the subsidiary level. We were in compliance with our interest coverage ratio under the Amended Long-Term Facility as of March 31, 2024.
In addition to the committed $3.5 billion Amended Long-Term Facility and the committed $2.0 billion term loan, we have committed credit facilities in Brazil and India. These committed credit facilities provide borrowings up to approximately $212 million at March 31, 2024 and $218 million at December 31, 2023, based on exchange rates then in effect, respectively. These committed credit facilities have maturities that run through 2025.
We had $2.0 billion and $2.0 billion drawn on the committed credit facilities (representing amounts outstanding on the term loan facility) at March 31, 2024 and December 31, 2023, respectively.
Notes Payable
Notes payable, which consist of short-term borrowings payable to banks or commercial paper, are generally used to fund working capital requirements. The fair value of our notes payable approximates the carrying amount due to the short maturity of these obligations.
The following table summarizes the carrying value of notes payable at March 31, 2024 and December 31, 2023:
Millions of dollarsMarch 31, 2024December 31, 2023
Commercial paper$475 $— 
Short-term borrowings due to banks25 17 
Total notes payable$500 $17 
Transfers and Servicing of Financial Assets
In an effort to manage economic and geographic trade customer risk, from time to time, the Company will transfer, primarily without recourse, accounts receivable balances of certain customers to financial institutions resulting in a nominal impact recorded in interest and sundry (income) expense. These transactions are accounted for as sales of the receivables resulting in the receivables being de-recognized from the Consolidated Condensed Balance Sheets. These transfers do not require continuing involvement from the Company.
Certain arrangements include servicing of transferred receivables by Whirlpool. Outstanding accounts receivable transferred under arrangements where the Company continues to service the transferred asset were $131 million as of March 31, 2024 and $379 million as of December 31, 2023, respectively. The amount of cash proceeds received under these arrangements was $131 million and $51 million for the three months ended March 31, 2024 and 2023, respectively.
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COMMITMENTS AND CONTINGENCIES
 3 Months Ended
Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES COMMITMENTS AND CONTINGENCIES
BEFIEX Credits and Other Brazil Tax Matters
In previous years, our Brazilian operations earned tax credits under the Brazilian government's export incentive program (BEFIEX). These credits reduced Brazilian federal excise taxes on domestic sales. Our Brazilian operations have received tax assessments for income and social contribution taxes associated with certain monetized BEFIEX credits. We do not believe BEFIEX credits are subject to income or social contribution taxes. We have not provided for income or social contribution taxes on these BEFIEX credits, and based on the opinions of tax and legal advisors, we have not accrued any amount related to these assessments at March 31, 2024. The total amount of outstanding tax assessments received for income and social contribution taxes relating to the BEFIEX credits, including interest and penalties, is approximately 2.3 billion Brazilian reais (approximately $461 million at March 31, 2024).
Relying on existing Brazilian legal precedent, in 2003 and 2004, we recognized tax credits in an aggregate amount of $26 million, adjusted for currency, on the purchase of raw materials used in production ("IPI tax credits"). The Brazilian tax authority subsequently challenged the recording of IPI tax credits. No such credits have been recognized since 2004. In 2009, we entered into a Brazilian government program ("IPI Amnesty") which provided extended payment terms and reduced penalties and interest to encourage taxpayers to resolve this and certain other disputed tax credit amounts. As permitted by the program, we elected to settle certain debts through the use of other existing tax credits and recorded charges of approximately $34 million in 2009 associated with these matters. In July 2012, the Brazilian revenue authority notified us that a portion of our proposed settlement was rejected and we received tax assessments of 287 million Brazilian reais (approximately $58 million at March 31, 2024), reflecting interest and penalties to date. The government's assessment in this case relies heavily on its arguments regarding taxability of BEFIEX credits for certain years, which we are disputing in one of the BEFIEX government assessment cases cited in the prior paragraph. Because the IPI Amnesty case is moving faster than the BEFIEX taxability case, we could be required to pay the IPI Amnesty assessment before obtaining a final decision in the BEFIEX taxability case.
We have received tax assessments from the Brazilian federal tax authorities relating to amounts allegedly due regarding insurance taxes (PIS/COFINS) for tax credits recognized since 2007. These credits were recognized for inputs to certain manufacturing and other business processes. These assessments are being challenged at the administrative and judicial levels in Brazil. The total amount of outstanding tax assessments received for credits recognized for PIS/COFINS inputs is approximately 338 million Brazilian reais (approximately $68 million at March 31, 2024). Based on the opinion of our tax and legal advisors, we have not accrued any amount related to these assessments.
In addition to the BEFIEX, IPI tax credit and PIS/COFINS inputs matters noted above, other assessments issued by the Brazilian tax authorities related to indirect and income tax matters, and other matters, are at various stages of review in numerous administrative and judicial proceedings. We are vigorously defending our positions related to BEFIEX credits and other Brazil Tax Matters. The amounts related to these assessments will continue to be increased by monetary adjustments at the Selic rate, which is the benchmark rate set by the Brazilian Central Bank. In accordance with our accounting policies, we routinely assess these matters and, when necessary, record our best estimate of a loss.
Litigation is inherently unpredictable and the conclusion of these matters may take many years to ultimately resolve. Amounts at issue in potential future litigation could increase as a result of interest and penalties in future periods. Accordingly, it is possible that an unfavorable outcome in these proceedings could have a material adverse effect on our financial statements in any particular reporting period.
Legacy MDA Europe Legal Matters
Competition Investigation
In 2013, the French Competition Authority ("FCA") commenced an investigation of appliance manufacturers and retailers in France, including Whirlpool and Indesit. The FCA investigation was split into two parts, and in December 2018, we finalized a settlement with the FCA on the first part of the investigation. The second part of the FCA investigation, which is focused primarily on manufacturer interactions with retailers, is ongoing. The Company has agreed to a preliminary settlement range with the FCA and recorded a charge of approximately $69 million in the first half of 2023. The Company expects the settlement amount to be finalized in the first half of 2024, and for payment to be made to the FCA in 2024.
Although it is currently not possible to assess the impact, if any, that matters related to the FCA investigation may have on our financial statements, matters related to the FCA investigation could have a material adverse effect on our financial statements in any particular reporting period.
Grenfell Tower
On June 23, 2017, London's Metropolitan Police Service released a statement that it had identified a Hotpoint–branded refrigerator as the initial source of the Grenfell Tower fire in West London. U.K. authorities are conducting investigations, including regarding the cause and spread of the fire. The model in question was manufactured by Indesit Company between 2006 and 2009, prior to Whirlpool's acquisition of Indesit in 2014. We are fully cooperating with the investigating authorities. Whirlpool was named as a defendant in a product liability suit in Pennsylvania federal court related to this matter. The federal court dismissed the case with prejudice in September 2020 and the dismissal was affirmed on appeal in July 2022. Plaintiffs filed a petition with the U.S. Supreme Court in January 2023 which was subsequently denied. In December 2020, lawsuits related to Grenfell Tower were filed in the U.K. against approximately 20 defendants, including Whirlpool Corporation and certain Whirlpool subsidiaries. In the fourth quarter of 2022, we accrued an immaterial amount related to these claims in our financial statements. Additional claims may be filed related to this incident.
Latin America Tax Review
In the first quarter of 2023, we accrued an immaterial amount in our Consolidated Condensed Financial Statements related to prior-period Value Added Tax (VAT) remittances in our Latin America region. We resolved certain aspects of this matter in the second quarter of 2023 and the overall financial statement impact of such resolution was immaterial. We continue to review tax matters within the region for any potential additional impacts, if any; certain matters could have a material adverse effect on our financial statements in any particular reporting period.
Other Litigation
We are currently vigorously defending a number of other lawsuits related to the manufacture and sale of our products which include class action allegations, and may become involved in similar actions. These lawsuits allege claims which include negligence, breach of contract, breach of warranty, product liability and safety claims, false advertising, fraud, and violation of federal and state regulations, including consumer protection laws. In general, we do not have insurance coverage for class action lawsuits. We are also involved in various other legal actions arising in the normal course of business, for which insurance coverage may or may not be available depending on the nature of the action. We dispute the merits of these suits and actions, and intend to vigorously defend them. Management believes, based upon its current knowledge, after taking into consideration legal counsel's evaluation of such suits and actions, and after taking into account current litigation accruals, that the outcome of these matters currently pending against Whirlpool should not have a material adverse effect, if any, on our financial statements.
Product Warranty Reserves
Product warranty reserves are included in other current and other noncurrent liabilities in our Consolidated Condensed Balance Sheets. The following table summarizes the changes in total product warranty liability reserves for the periods presented:
Product Warranty
Millions of dollars20242023
Balance at January 1 (1)
$206 $190 
Issuances/accruals during the period72 58
Settlements made during the period/other(80)(56)
Liabilities classified to held for sale (1)
3 — 
Balance at March 31
$201 $192 
Current portion$128 $131 
Non-current portion73 61 
Total$201 $192 
(1) Starting from the fourth quarter of 2022, product warranty reserve, and subsequent movements of the reserve, of our European major domestic appliance business has been transferred to liabilities held for sale.

In the normal course of business, we engage in investigations of potential quality and safety issues. As part of our ongoing effort to deliver quality products to consumers, we are currently investigating certain potential quality and safety issues globally. As necessary, we undertake to effect repair or replacement of appliances in the event that an investigation leads to the conclusion that such action is warranted.
Guarantees
We have guarantee arrangements in a Brazilian subsidiary. For certain creditworthy customers, the subsidiary guarantees customer lines of credit at commercial banks to support purchases following its normal credit policies. If a customer were to default on its line of credit with the bank, our subsidiary would be required to assume the line of credit and satisfy the obligation with the bank. At March 31, 2024 and December 31, 2023, the guaranteed amounts totaled 1.2 billion Brazilian reais (approximately $246 million at March 31, 2024) and 1.3 billion Brazilian reais (approximately $273 million at December 31, 2023), respectively. The fair value of these guarantees were nominal at March 31, 2024 and December 31, 2023. Our subsidiary insures against a significant portion of this credit risk for these guarantees, under normal operating conditions, through policies purchased from high-quality underwriters.
We provide guarantees of indebtedness and lines of credit for various consolidated subsidiaries. The maximum contractual amount of indebtedness and lines of credit available under these lines for consolidated subsidiaries totaled approximately $2.9 billion at March 31, 2024 and $3.0 billion at December 31, 2023, respectively. Our total short-term outstanding bank indebtedness under guarantees (excluding those related to the European major domestic appliance business) was $25 million and $17 million at March 31, 2024 and December 31, 2023, respectively.
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PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS
 3 Months Ended
Mar. 31, 2024
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]  
PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS
The following table summarizes the components of net periodic pension cost and the cost of other postretirement benefits for the periods presented:

Three Months Ended March 31,
United States
Pension Benefits		Foreign
Pension Benefits		Other Postretirement
Benefits
Millions of dollars202420232024202320242023
Service cost$1 $1 $1 $1 $— $— 
Interest cost25 29 7 6 2 2 
Expected return on plan assets(37)(36)(6)(6)— — 
Amortization:
Actuarial loss10 9 1 2 — — 
Prior service credit— — — — — (11)
Settlement and curtailment (gain) loss— — — — — — 
Net periodic benefit cost (credit)$(1)$3 $3 $3 $2 $(9)

The following table summarizes the net periodic cost recognized in operating profit and interest and sundry (income) expense for the periods presented:
Three Months Ended March 31,
United States
Pension Benefits		Foreign
Pension Benefits		Other Postretirement
Benefits
Millions of dollars202420232024202320242023
Operating profit (loss)$1 $1 $1 $1 $— $— 
Interest and sundry (income) expense(2)2 2 2 2 (9)
Net periodic benefit cost$(1)$3 $3 $3 $2 $(9)
401(k) Defined Contribution Plan
During the first quarter of 2024, we announced that the Company matching contributions for our 401(k) defined contribution plan, equal to up to 7% of participants' eligible compensation, covering substantially all U.S. employees will be contributed in company stock starting from March 2024.
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HEDGES AND DERIVATIVE FINANCIAL INSTRUMENTS
 3 Months Ended
Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
HEDGES AND DERIVATIVE FINANCIAL INSTRUMENTS HEDGES AND DERIVATIVE FINANCIAL INSTRUMENTS
Derivative instruments are accounted for at fair value based on market rates. Derivatives where we elect hedge accounting are designated as either cash flow, fair value or net investment hedges. Derivatives that are not accounted for based on hedge accounting are marked to market through earnings. If the designated cash flow hedges are highly effective, the gains and losses are recorded in other comprehensive income (loss) and subsequently reclassified to earnings to offset the impact of the hedged items when they occur. In the event it becomes probable the forecasted transaction to which a cash flow hedge relates will not occur, the derivative would be terminated and the amount in accumulated other comprehensive income (loss) would be recognized in earnings. The fair value of the hedge asset or liability is presented in either other current assets / liabilities or other noncurrent assets / liabilities on the Consolidated Condensed Balance Sheets and in other within cash provided by (used in) operating activities in the Consolidated Condensed Statements of Cash Flows.
Using derivative instruments means assuming counterparty credit risk. Counterparty credit risk relates to the loss we could incur if a counterparty were to default on a derivative contract. We generally deal with investment grade counterparties and monitor the overall credit risk and exposure to individual counterparties. We do not anticipate nonperformance by any counterparties. The amount of counterparty credit exposure is limited to the unrealized gains, if any, on such derivative contracts. We do not require nor do we post collateral on such contracts.
Hedging Strategy
In the normal course of business, we manage risks relating to our ongoing business operations including those arising from changes in commodity prices, foreign exchange rates and interest rates. Fluctuations in these rates and prices can affect our operating results and financial condition. We use a variety of strategies, including the use of derivative instruments, to manage these risks. We do not enter into derivative financial instruments for trading or speculative purposes.
Commodity Price Risk
We enter into commodity derivative contracts on various commodities to manage the price risk associated with forecasted purchases and sales of material used in our manufacturing process. The objective of these hedges is to reduce the variability of cash flows associated with the forecasted purchases and sales of commodities.
Foreign Currency and Interest Rate Risk
We incur expenses associated with the procurement and production of products in a limited number of countries, while we sell in the local currencies of a large number of countries. Our primary foreign currency exchange exposures result from cross-currency sales of products. As a result, we enter into foreign exchange contracts to hedge certain firm commitments and forecasted transactions to acquire products and services that are denominated in foreign currencies. We enter into certain undesignated non-functional currency asset and liability hedges that relate primarily to short-term payables, receivables, intercompany loans and dividends. When we hedge a foreign currency denominated payable or receivable with a derivative, the effect of changes in the foreign exchange rates are reflected currently in interest and sundry (income) expense for both the payable/receivable and the derivative. Therefore, as a result of the economic hedge, we do not elect hedge accounting.
We also enter into hedges to mitigate currency risk primarily related to forecasted foreign currency denominated expenditures, intercompany financing agreements and royalty agreements and designate them as cash flow hedges. Gains and losses on derivatives designated as cash flow hedges, to the extent they are included in the assessment of effectiveness, are recorded in other comprehensive income (loss) and subsequently reclassified to earnings to offset the impact of the hedged items when they occur.
We may enter into cross-currency interest rate swaps to manage our exposure relating to cross-currency debt. Outstanding notional amounts of cross-currency interest rate swap agreements were $618 million at March 31, 2024 and December 31, 2023, respectively.
We may enter into interest rate swap agreements to manage interest rate risk exposure. Our interest rate swap agreements, if any, effectively modify our exposure to interest rate risk, primarily through converting certain floating rate debt to a fixed rate basis, or certain fixed rate debt to a floating rate basis. These agreements involve either the receipt or payment of floating rate amounts in exchange for fixed rate interest payments or receipts, respectively, over the life of the agreements without an exchange of the underlying principal amounts. We may enter into swap rate lock agreements to effectively reduce our exposure to interest rate risk by locking in interest rates on probable long-term debt issuances. There were no outstanding notional amounts of interest rate swap agreements at March 31, 2024 and December 31, 2023.
We may enter into instruments that are designated and qualify as a net investment hedge to manage our exposure related to foreign currency denominated investments. The effective portion of the instruments' gain or loss is reported as a component of other comprehensive income (loss) and recorded in accumulated other comprehensive loss. The gain or loss will be subsequently reclassified into net earnings when the underlying net investment is either sold or substantially liquidated. The remaining change in fair value of the hedge instruments represents the ineffective portion, which is immediately recognized in interest and sundry (income) expense on our Consolidated Condensed Statements of Comprehensive Income (Loss). There were no outstanding notional amounts of net investment hedges as of March 31, 2024 and December 31, 2023.
The following table summarizes our outstanding derivative contracts and their effects in our Consolidated Condensed Balance Sheets at March 31, 2024 and December 31, 2023. Hedge assets and liabilities of our European major domestic appliance business have been classified as held for sale and are excluded from the table below.
  Fair Value of 
Notional AmountHedge AssetsHedge LiabilitiesMaximum Term (Months)
Millions of dollars20242023202420232024202320242023
Derivatives accounted for as hedges(1)
Commodity swaps/options$185 $193 $7 $4 $5 $9 (CF)2124
Foreign exchange forwards/options981 952 7 1 12 31 (CF/NI)1515
Cross-currency swaps618 618 5 5 69 79 (CF)5962
Total derivatives accounted for as hedges$19 $10 $86 $119 
Derivatives not accounted for as hedges
Commodity swaps/options$— $— $— $— $— $— N/A00
Foreign exchange forwards/options318 1,569 — 13 2 9 N/A710
Total derivatives not accounted for as hedges— 13 2 9 
Total derivatives$19 $23 $88 $128 
Current$17 $22 $19 $46 
Noncurrent2 1 69 82 
Total derivatives$19 $23 $88 $128 
(1)Derivatives accounted for as hedges are considered cash flow (CF) hedges.
The following tables summarize the effects of derivative instruments on our Consolidated Condensed Statements of Comprehensive Income (Loss) for the periods presented:
Three Months Ended March 31,
Gain (Loss)
Recognized in OCI
(Effective Portion ) (2)
Millions of dollars20242023
Cash flow hedges
     Commodity swaps/options$5 $— 
     Foreign exchange forwards/options15 (20)
     Cross-currency swaps13 (1)
     Interest rate derivatives— (1)
$33 $(22)
Three Months Ended March 31,
Location of Gain (Loss) Reclassified from
OCI into Earnings
(Effective Portion)
Gain (Loss) Reclassified from
OCI into Earnings
(Effective Portion)(3)
Cash Flow Hedges - Millions of dollars20242023
Commodity swaps/options Cost of products sold$(2)$— 
Foreign exchange forwards/optionsNet sales1 — 
Foreign exchange forwards/optionsCost of products sold(13)(8)
Foreign exchange forwards/optionsInterest and sundry (income) expense— 9 
Cross-currency swapsInterest and sundry (income) expense16 (7)
$2 $(6)
Three Months Ended March 31,
Location of Gain (Loss) Recognized on Derivatives not
Accounted for as Hedges		Gain (Loss) Recognized on Derivatives not
Accounted for as Hedges
Derivatives not Accounted for as Hedges - Millions of dollars20242023
Foreign exchange forwards/optionsInterest and sundry (income) expense$(3)$13 
(2)Change in gain (loss) recognized in OCI (effective portion) for the three months ended March 31, 2024 is primarily driven by fluctuations in currency and commodity prices and interest rates compared to prior year. The tax impact of the cash flow hedges was $(9) million and $5 million for the three months ended March 31, 2024 and 2023, respectively.
(3)Change in gain (loss) reclassified from OCI into earnings (effective portion) for the three months ended March 31, 2024 was primarily driven by fluctuations in currency and commodity prices and interest rates compared to prior year.
For cash flow hedges, the amount of ineffectiveness recognized in interest and sundry (income) expense was nominal for the periods ended March 31, 2024 and 2023. There were no hedges designated as fair value for the periods ended March 31, 2024 and 2023. The net amount of unrealized gain or loss on derivative instruments included in accumulated OCI related to contracts maturing and expected to be realized during the next twelve months is a loss of $7 million at March 31, 2024.
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FAIR VALUE MEASUREMENTS
 3 Months Ended
Mar. 31, 2024
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS
Fair value is measured based on an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions market participants would use in pricing an asset or liability. Assets and liabilities measured at fair value are based on a market valuation approach using prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. As a basis for considering such assumptions, a three-tiered fair value hierarchy is established, which prioritizes the inputs used in measuring fair value as follows: (Level 1) observable inputs such as quoted prices in active markets; (Level 2) inputs, other than the quoted prices in active markets that are observable, either directly or indirectly; and (Level 3) unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.
The following table summarizes the valuation of our assets and liabilities measured at fair value on a recurring basis at March 31, 2024 and December 31, 2023:
Fair Value
Millions of dollarsTotal Cost BasisLevel 1Level 2Total
Measured at fair value on a recurring basis:20242023202420232024202320242023
Short-term investments (1)
$692 $1,126 $416 $867 $276 $259 $692 $1,126 
Net derivative contracts— — — — (69)(105)(69)(105)
(1)Short-term investments are primarily comprised of money market funds and highly liquid, low risk investments with initial maturities less than 90 days.
The non-recurring fair values represent only those assets whose carrying values were adjusted to fair value during the reporting period.
European Major Domestic Appliance Business Held for Sale
On January 16, 2023, the Company entered into a contribution agreement with Arçelik A.Ş (“Arcelik”). Under the terms of the agreement, Whirlpool will contribute its European major domestic appliance business, and Arcelik will contribute its European major domestic appliance, consumer electronics, air conditioning, and small domestic appliance businesses into the newly formed entity of which Whirlpool will own 25% and Arcelik 75%.
On December 20, 2022, the Company's board authorized the transaction with Arcelik and the European major domestic appliance business was classified as held for sale during the fourth quarter of 2022. The disposal group was measured at fair value less cost to sell. We used a discounted cash flow analysis and multiple market data points in our analysis to determine fair value (Level 3 input) of the 25% interest retained, resulting in an estimated fair value of $139 million. The discounted cash flow analysis utilized a discount rate of 16.5% at December 31, 2022.
During the first quarter of 2024, the fair value of the disposal group was updated based on working capital adjustments, cash flow assumptions and changes in discount rates. This updated assessment resulted in an estimated fair value of $227 million at March 31, 2024. The discounted cash flow analysis utilized a discount rate of 15.5%.
During the three months ended March 31, 2024, we recorded a loss of $247 million to the loss on sale and disposal of businesses. The adjustment reflects ongoing reassessment of the fair value less costs to sell of the disposal group and transaction costs. The transaction closed on April 1, 2024 and no further fair value adjustments are expected in subsequent quarters related to the contribution of our European major domestic appliance business.
During the three months ended March 31, 2023, we recorded an increase of $222 million to the loss on sale and disposal of businesses.
See Note 14 to the Consolidated Condensed Financial Statements for additional information.
Other Fair Value Measurements
The fair value of long-term debt (including current maturities) was $6.8 billion and $6.9 billion at March 31, 2024 and December 31, 2023, respectively, and was estimated using discounted cash flow analysis based on incremental borrowing rates for similar types of borrowing arrangements (Level 2 input).
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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 
 TotalRetained
Earnings		Accumulated Other Comprehensive Income (Loss)Treasury Stock / Additional Paid-In-CapitalCommon
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 subsidiary462 — 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 
 TotalRetained
Earnings		Accumulated Other Comprehensive Income (Loss)Treasury Stock / Additional Paid-In-CapitalCommon
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 $173 
Other Comprehensive Income (Loss)
The following table summarizes our other comprehensive income (loss) and related tax effects for the periods presented:
Three Months Ended March 31,
20242023
Millions of dollarsPre-taxTax EffectNetPre-taxTax EffectNet
Currency translation adjustments$(29)$— $(29)$(1)$— $(1)
Cash flow hedges33 (9)24 (16)5 (11)
Pension and other postretirement benefits plans10 (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 $(1)
Reclassifications Out of Accumulated Other Comprehensive Income (Loss)
There were no material net impacts of the reclassification adjustments out of accumulated other comprehensive income (loss) included in net earnings (loss) for the three months ended March 31, 2024.
Net earnings (loss) per Share
Diluted net earnings (loss) per share of common stock include the dilutive effect of stock options and other share-based compensation plans. Basic and diluted net earnings (loss) per share of common stock for the periods presented were calculated as follows:
Three Months Ended March 31,
Millions of dollars and shares20242023
Numerator for basic and diluted earnings per share - Net earnings (loss) available to Whirlpool$(259)$(179)
Denominator for basic earnings per share - weighted-average shares54.9 54.8 
Denominator for diluted earnings per share - adjusted weighted-average shares54.9 54.8 
Anti-dilutive stock options/awards excluded from earnings per share1.2 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.
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RESTRUCTURING CHARGES
 3 Months Ended
Mar. 31, 2024
Restructuring Charges [Abstract]  
RESTRUCTURING CHARGES RESTRUCTURING CHARGES
We periodically take action to improve operating efficiencies, typically in connection with business acquisitions or changes in the economic environment. Our footprint and headcount reductions and organizational integration actions relate to discrete, unique restructuring events, primarily reflected in the following plans.
In March 2024, the Company committed to workforce reduction plans in the United States and globally, in an effort to reduce complexity and simplify our organizational model after the European major domestic appliance transaction. The workforce reduction plans included involuntary severance actions as of the end of the first quarter of 2024. Total expected costs for these actions is $23 million, of which we have incurred $14 million in employee termination costs and $9 million other associated costs within the first quarter. All of these costs will result in cash settlements primarily in 2024. The Company is currently evaluating certain follow-on restructuring actions for the remainder of 2024.
The following table summarizes the changes to our restructuring liability during the three months ended March 31, 2024:
Millions of DollarsDecember 31, 2023Charge to EarningsCash PaidNon-Cash and OtherMarch 31, 2024
Employee Termination$10 $14 $(14)$— $10 
Other exit costs— 9 — — 9 
Total$10 $23 $(14)$— $19 
The following table summarizes the restructuring charges by operating segment and Corporate for the periods presented:
Millions of dollarsThree Months Ended March 31
20242023
MDA North America$4 $— 
MDA Latin America3 — 
MDA Asia1 — 
Corporate/Other15 — 
Total$23 $— 
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INCOME TAXES
 3 Months Ended
Mar. 31, 2024
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
Income tax expense was $76 million for the three months ended March 31, 2024, compared to income tax expense of $68 million for the same period of 2023. The increase in tax expense is primarily due to the sale of minority shares in Whirlpool of India and related capital gains, and legal entity restructuring tax impacts.
The following table summarizes the difference between income tax expense (benefit) at the U.S. statutory rate of 21% and the income tax expense (benefit) at effective worldwide tax rates for the respective periods:
Three Months Ended March 31,
Millions of dollars20242023
Earnings (Loss) before income taxes$(177)$(109)
Income tax expense (benefit) computed at United States statutory tax rate(37)(23)
State and local taxes, net of federal tax benefit(1)1 
Valuation allowances19 4 
Audit and Settlements2 20 
U.S. foreign income items, net of credits(13)2 
Sale of minority shares and capital gains79 — 
Legal Entity restructuring tax impact(35)— 
Non deductible impairments49 50 
Non deductible fines and penalties— 10 
Other13 4 
Income tax expense (benefit) computed at effective worldwide tax rates$76 $68 
At the end of each interim period, we estimate the effective tax rate expected to be applicable for the full fiscal year and the impact of discrete items, if any, and adjust the quarterly rate as necessary.
Subsequent Events
On April 1, 2024, the Company completed its transaction with Arcelik related to its European and MENA businesses. The disposal group has been classified as held for sale starting from the fourth quarter of 2022, resulting in a cumulative loss from disposal of businesses of approximately $1.9 billion through the first quarter of 2024. For income tax purposes, some of these losses were not realizable by the Company until the transaction closed in the second quarter of 2024. In addition to income tax recorded to date, the Company estimates that it will record additional deferred tax assets of between $100 and $300 million, net of applicable reserves and valuation allowances, in the second quarter of 2024, as a result of closing the transaction with Arcelik. For additional information, see Note 14 to the Consolidated Condensed Financial Statements.
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SEGMENT INFORMATION
 3 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
Beginning January 1, 2024, we reorganized our operating segment structure to better represent the revised structure within our portfolio transformation, including a greater focus on our strong value creating small domestic appliance business. The Company implemented this change to align with the Company's new operating structure, consistent with how the Company’s Chief Operating Decision Maker evaluates performance and allocates resources in accordance with ASC 280, Segment Reporting. Our reportable segments consist of Major Domestic Appliances ("MDA") North America; MDA Europe, MDA Latin America; MDA Asia; and Small Domestic Appliances ("SDA") Global. All prior period amounts have been reclassified to conform with current period presentation.
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 segment.
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 tables below summarize performance by operating segment for the periods presented:
Three Months Ended March 31,
 OPERATING SEGMENTS
MDA North
America		MDA Latin
America		MDA AsiaMDA EuropeSDA GlobalOther / EliminationsTotal
Whirlpool
Net sales
2024$2,428 $837 $239 $804 $182 $— $4,490 
2023
2,641 747 245 846 170 — 4,649 
Intersegment sales
2024$33 $303 $10 $23 $10 $(379)$— 
2023 58 378 10 23 — (469)— 
Depreciation and amortization
2024$48 $18 $6 $— $3 $14 $89 
2023
49 17 5 — 3 15 89 
EBIT
2024$135 $65 $11 $(9)$33 $(322)$(87)
2023
266 36 8 (5)19 (357)(33)
Total assets
March 31, 2024$10,447 $3,957 $1,149 $— $1,404 $413 $17,370 
December 31, 2023
10,217 4,037 1,054 685 1,134 185 17,312 
Capital expenditures
2024$42 $40 $3 $22 $2 $6 $115 
2023
45 15 2 19 3 12 96 
Assets of $3.5 billion and $3.3 billion associated with our European major domestic appliance business have been classified as assets held for sale and recorded at fair value less costs to sell at March 31, 2024 and December 31, 2023, respectively. See Note 14 to the Consolidated Condensed Financial Statements for additional information on the transaction.
The following table summarizes the reconciling items in the Other/Eliminations column for total EBIT for the periods presented:
Three Months Ended March 31,
in millions20242023
Items not allocated to segments:
Restructuring charges$(23)$— 
Legacy MDA Europe legal matters— (62)
(Loss) gain on sale and disposal of businesses(247)(222)
Corporate expenses and other(52)(73)
Total other/eliminations$(322)$(357)
A reconciliation of our segment information for total EBIT to the corresponding amounts in the Consolidated Condensed Statements of Comprehensive Income (Loss) is shown in the table below for the periods presented:
Three Months Ended March 31,
in millions20242023
Operating (loss) profit$(116)$43 
Interest and sundry (income) expense(29)77 
Equity method investment income (loss), net of tax— 1 
Total EBIT$(87)$(33)
Interest expense90 75 
Income tax expense76 68 
Net earnings (loss)$(253)$(176)
Less: Net earnings available to noncontrolling interests6 3 
Net earnings (loss) available to Whirlpool$(259)$(179)
v3.24.1.u1
ACQUISITIONS AND DIVESTITURES
 3 Months Ended
Mar. 31, 2024
Business Combination, Asset Acquisition, Discontinued Operations and Disposal Groups [Abstract]  
ACQUISITIONS AND DIVESTITURES ACQUISITIONS AND DIVESTITURES
European Major Domestic Appliance Business Held for Sale
On January 16, 2023, Whirlpool entered into a contribution agreement with Arçelik B.V. (“Arcelik”) to carve out and contribute our major domestic appliance European business operations into a newly formed European appliance company which constitutes a combination of Arcelik’s and Whirlpool's European businesses. Whirlpool will own approximately 25% and Arcelik will own approximately 75% of the European appliance company ("Beko"). The sale includes the Company's major domestic appliance business in Europe, including nine production sites.
On June 22, 2023, Whirlpool entered into a share purchase agreement with Arcelik for the sale of our Middle East and North Africa ("MENA") business. The sale was previously agreed upon in principle and announced on January 17, 2023, as part of the outcome of Whirlpool’s strategic review of the EMEA business. The financial impact of the MENA transaction has been included in the loss on sale and disposal of businesses related to the European major domestic appliance business transaction as discussed further below.
The disposal group met the criteria for held for sale accounting during the fourth quarter of 2022. The operations of the European disposal group did not meet the criteria to be presented as discontinued operations.
Subsequent Events
On April 1, 2024, the parties closed the aforementioned contribution transaction and MENA sale. Upon closing in the second quarter of 2024, the transaction resulted in the deconsolidation of the European major appliances and MENA businesses. In connection with the transactions, we recorded a loss on disposal of $1.5 billion in the fourth quarter of 2022. The loss includes a write-down of the net assets of $1.2 billion of the disposal group to a fair value of $139 million and also includes $393 million of cumulative currency translation adjustments, $98 million release of other comprehensive loss on pension and $18 million of other transaction related costs. No goodwill is included in the disposal group.
We recorded an adjustment of $247 million for the three months ended March 31, 2024, resulting in a total loss of $1.9 billion for the transaction. These adjustments are recorded in the loss on sale and disposal of businesses and reflect transaction costs and ongoing reassessment of the fair value less costs to sell of the disposal group which has been evaluated each reporting period until completion of the transaction. No further material adjustments are expected in subsequent periods.
Both Whirlpool and Arcelik retain an option for Arcelik to purchase the remaining equity interest in Beko for fair value, which could be material to the financial statements of the Company, depending on the performance of the business.
The European disposal group is classified as held for sale as of March 31, 2024 and the following table presents the carrying amounts of the major classes of the disposal group's assets and liabilities as of March 31, 2024 and December 31, 2023, respectively.

Millions of dollarsMarch 31, 2024December 31, 2023
Carrying amounts of major classes of assets
Current Assets
Cash and cash equivalents (1)
$245 $97 
Accounts receivable, net of allowance of $28 and $28, respectively
646 578 
Inventories555 589 
Prepaid and other current assets101 94 
Total current assets1,547 1,358 
Property, net of accumulated depreciation of $1,370 and $1,442, respectively
952 952 
Right of use assets151 162 
Other intangibles, net of accumulated amortization of $146 and $149, respectively
280 286 
Deferred income taxes553 574 
Other noncurrent assets34 13 
Total noncurrent assets1,970 1,987 
Total assets$3,517 $3,345 
Carrying amounts of major classes of liabilities
Current liabilities
Accounts payable$1,179 $1,266 
Accrued expenses208 218 
Accrued advertising and promotions122 171 
Employee compensation130 120 
Notes payable8 4 
Other current liabilities89 97 
Total current liabilities1,736 1,876 
Noncurrent liabilities
Pension benefits160 168 
Lease liabilities121 132 
Other noncurrent liabilities122 87 
Total noncurrent liabilities403 387 
Total liabilities$2,139 $2,263 
Total net assets of the disposal group classified as held for sale$1,378 $1,082 
Assets held for sale
Fair value of consideration
$227 $144 
Liabilities held for saleCumulative currency translation adjustment and Other comprehensive income on pension$577 $587 
(1) Cash and cash equivalents of the disposal group increased due to cash retained in Europe for certain contingencies and other retained liabilities.
The following table summarizes the MDA Europe's earnings (loss) available to Whirlpool before income taxes for the three months ended March 31, 2024 and March 31, 2023 respectively:
Three Months Ended March 31,
in millions20242023
Earnings (loss) before income taxes$(9)$— 
Earnings (loss) before income taxes exclude intercompany other income and expense, which is eliminated at the Total Whirlpool level.
Whirlpool India share sale
On November 30, 2023, the Company announced its intention to enter into one or more transactions to sell up to 24% of the outstanding shares of its publicly listed Whirlpool of India Limited subsidiary (“Whirlpool India”) in 2024, and to retain a majority interest following completion of the sale.
On February 20, 2024, the Company’s wholly-owned subsidiary, Whirlpool Mauritius Limited (“Seller”), executed the sale of 30.4 million equity shares of Whirlpool India via an on-market trade. The sale, which was accounted for as an equity transaction, reduced Seller’s ownership in Whirlpool India from 75% to 51%, and generated proceeds of $462 million on settlement.
Latin America sale of Brastemp water filtration subscription business
On January 16, 2024, the Company entered into a share purchase agreement with a third-party buyer to sell the Company's Brastemp-branded water filtration subscription business in the Latin America region. The completion of the transaction is contingent upon regulatory approvals and other customary closing conditions, and is anticipated to occur in 2024. The disposal group met the criteria of held for sale at December 31, 2023. The carrying amounts of the disposal group's assets and liabilities as of December 31, 2023 are immaterial. The disposal group's earnings (loss) available to Whirlpool before income taxes for the three months ended March 31, 2024, and 2023, respectively, are also immaterial.
v3.24.1.u1
BASIS OF PRESENTATION (Policies)
 3 Months Ended
Mar. 31, 2024
Accounting Policies [Abstract]  
General Information
General Information
The accompanying unaudited Consolidated Condensed Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information, and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all information or footnotes required by U.S. GAAP for complete financial statements. As a result, this Form 10-Q should be read in conjunction with the Consolidated Financial Statements and accompanying Notes in our Form 10-K for the year ended December 31, 2023.
Management believes that the accompanying Consolidated Condensed Financial Statements reflect all adjustments, including normal recurring items, considered necessary for a fair presentation of the interim periods.
Reclassification
We are required to make estimates and assumptions that affect the amounts reported in the Consolidated Condensed Financial Statements and accompanying Notes. Actual results could differ materially from those estimates.
Consolidation
We have eliminated all material intercompany transactions in our Consolidated Condensed Financial Statements. We do not consolidate the financial statements of any company in which we have an ownership interest of 50% or less, unless that company is deemed to be a variable interest entity ("VIE") of which we are the primary beneficiary. VIEs are consolidated when the company is the primary beneficiary of these entities and has the ability to directly impact the activities of these entities.
Risks and Uncertainties
Risks and Uncertainties
Macroeconomic volatility, as well as ongoing international conflicts, continues to impact countries across the world, and the duration and severity of the effects are currently unknown. During the quarter, we continued experiencing some disruption from these conflicts, primarily in Europe due to the conflict in Ukraine. The duration and severity of the effects on our business and the global economy are inherently unpredictable. We have some sales and distribution operations in Ukraine; however, the revenues and net assets are not material to our Major Domestic Appliances Europe ("MDA Europe") operating segment and consolidated results. Our Ukraine business was part of the major domestic appliance European transaction, which was completed on April 1, 2024. For additional information, see Note 14 to the Consolidated Condensed Financial Statements.
The Consolidated Condensed Financial Statements presented herein reflect estimates and assumptions made by management at March 31, 2024.
These estimates and assumptions affect, among other things, the Company’s goodwill, long-lived asset and indefinite-lived intangible asset valuation; inventory valuation; assessment of the annual effective tax rate; valuation of deferred income taxes and income tax contingencies; and the allowance for expected credit losses and bad debt. Events and changes in circumstances arising after April 25, 2024, including those resulting from the impacts of macroeconomic volatility, as well as the ongoing international conflicts, will be reflected in management’s estimates for future periods.
Goodwill and Indefinite-lived Intangible Assets
We continue to monitor the significant global economic uncertainty to assess the outlook for demand for our products and the impact on our business and our overall financial performance. Our Maytag and InSinkErator trademarks continue to be at risk at March 31, 2024. The goodwill in our reporting units or other indefinite-lived intangible assets are not presently at risk for future impairment.
The potential impact of demand disruptions, production impacts or supply constraints along with a number of other factors could negatively affect revenues for the Maytag and InSinkErator trademarks, but we remain committed to the strategic actions necessary to realize the long-term forecasted revenues and profitability of these trademarks.
A lack of recovery or further deterioration in market conditions, a sustained trend of weaker than expected financial performance for our Maytag and InSinkErator trademarks, among other factors, as a result of the macroeconomic factors or other unforeseen events could result in an impairment charge in future periods which could have a material adverse effect on our financial statements.
As a result of our analysis, and in consideration of the totality of events and circumstances, there were no triggering events of impairment identified during the first quarter of 2024.
Income taxes
Under U.S. GAAP, the Company calculates its quarterly tax provision based on an estimated effective tax rate for the year and then adjusts this amount by certain discrete items each quarter. Potential changing and volatile macro-economic conditions could cause fluctuations in forecasted earnings before income taxes. As such, the Company's effective tax rate could be subject to volatility as forecasted earnings before income taxes are impacted by events which cannot be predicted.
In addition, potential future economic deterioration brought on by the pandemic, ongoing international conflicts, and related sanctions or other factors, such as potential sales of businesses and new tax legislation may negatively impact the realizability and/or valuation of certain deferred tax assets.
Synthetic Lease Arrangements
Synthetic Lease Arrangements
We have a number of synthetic lease arrangements with financial institutions for non-core properties. The leases contain provisions for options to purchase, extend the original term for additional periods or return the property. As of March 31, 2024 and December 31, 2023, these arrangements include residual value guarantees of up to approximately $378 million and $378 million, respectively, that could potentially come due in future periods. We do not believe it is probable that any material amounts will be owed under these guarantees. Therefore, no material amounts related to the residual value guarantees are included in the lease payments used to measure the right-of-use assets and lease liabilities.
The majority of these leases are classified as operating leases. We have assessed the reasonable certainty of these provisions to determine the appropriate lease term. The leases were measured using our incremental borrowing rate and are included in our right of use assets and lease liabilities in the Consolidated Condensed Balance Sheets. Rental payments are calculated at the applicable reference rate plus an additional amount based on the terms of the lease. The impact to the Consolidated Condensed Balance Sheets and Consolidated Condensed Statements of Comprehensive Income (Loss) is nominal.
Supply Chain Financing Arrangements
Supply Chain Financing Arrangements
The Company has ongoing agreements globally with various third-parties to provide certain suppliers the opportunity to sell receivables due from us to participating financial institutions at the sole discretion of both the suppliers and the financial institutions. Under these agreements, the average payment terms range from 120 to 180 days and are based on industry standards and best practices within each of our global regions. Whirlpool has no assets pledged as part of our global programs.
We have no economic interest in the sale of these receivables and no direct financial relationship with the financial institutions concerning these services. For certain arrangements, the Company will guarantee receivables due from wholly-owned subsidiaries. Our obligations to suppliers, including amounts due and scheduled payment terms, are not impacted. All outstanding balances under these programs are recorded in accounts payable on our Consolidated Condensed Balance Sheets.
A downgrade in our credit rating or changes in the financial markets could limit the financial institutions’ willingness to commit funds to, and participate in, the programs. We do not believe such risk would have a material impact on our working capital or cash flows.
Equity Method Investments
Equity Method Investments
Whirlpool holds an equity interest of 20% in Whirlpool (China) Co., Ltd. (Whirlpool China), an entity which was previously controlled by the Company.
The licensing revenue and outstanding accounts receivable from Whirlpool China and its subsidiaries are not material for the periods presented.
The market value of our 20% investment in Whirlpool China, based on the quoted market price, is $177 million as of March 31, 2024. Management has concluded that there are currently no indicators for an other-than-temporary impairment.
Related Parties
Related Parties
The Company has a controlling equity ownership of 87% in Elica PB India which is consolidated in Whirlpool Corporation's financial statements and is reported within our MDA Asia reportable segment. Elica PB India is a VIE for which the Company is the primary beneficiary. The carrying amount of customer relationships, which are included in Other intangible assets, net of accumulated amortization, amounts to $28 million as of March 31, 2024 and $29 million as of December 31, 2023, respectively. Other assets or liabilities of Elica PB India are not material to the Consolidated Condensed Financial Statements of the Company for the periods presented.
Both Whirlpool India and the non-controlling interest shareholders retain an option for Whirlpool India to purchase the remaining equity interest in Elica PB India for fair value, which could be material to the financial statements of the Company, depending on the performance of the business.
Accounting Pronouncements Issued But Not Yet Effective
Accounting Pronouncements Issued But Not Yet Effective
In November 2023, the FASB issued Update 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures". This Update applies to all public entities that are required to report segment information in accordance with Topic 280. The amendments in this Update revise reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The amendments in this Update do not change how a public entity identifies its operating segments, aggregates those operating segments, or applies the quantitative thresholds to determine its reportable segments. The new standard is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The standard should be applied retrospectively to all prior periods presented in the financial statements. The Company is currently evaluating the impact of adopting this new standard.
In December 2023, the FASB issued Update 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures". This Update applies to all entities that are subject to Topic 740. The amendments in this Update revise income tax disclosures primarily related to the rate reconciliation and income taxes paid information as well as the effectiveness of certain other income tax disclosures. The new standard is effective for annual periods beginning after December 15, 2024. Early adoption is permitted. The standard should be applied on a prospective basis, but retrospective application is permitted. The Company is currently evaluating the impact of adopting this new standard.
All other issued and not yet effective accounting standards are not relevant or material to the Company.
Derivatives
Hedging Strategy
In the normal course of business, we manage risks relating to our ongoing business operations including those arising from changes in commodity prices, foreign exchange rates and interest rates. Fluctuations in these rates and prices can affect our operating results and financial condition. We use a variety of strategies, including the use of derivative instruments, to manage these risks. We do not enter into derivative financial instruments for trading or speculative purposes.
Commodity Price Risk
We enter into commodity derivative contracts on various commodities to manage the price risk associated with forecasted purchases and sales of material used in our manufacturing process. The objective of these hedges is to reduce the variability of cash flows associated with the forecasted purchases and sales of commodities.
Foreign Currency and Interest Rate Risk
We incur expenses associated with the procurement and production of products in a limited number of countries, while we sell in the local currencies of a large number of countries. Our primary foreign currency exchange exposures result from cross-currency sales of products. As a result, we enter into foreign exchange contracts to hedge certain firm commitments and forecasted transactions to acquire products and services that are denominated in foreign currencies. We enter into certain undesignated non-functional currency asset and liability hedges that relate primarily to short-term payables, receivables, intercompany loans and dividends. When we hedge a foreign currency denominated payable or receivable with a derivative, the effect of changes in the foreign exchange rates are reflected currently in interest and sundry (income) expense for both the payable/receivable and the derivative. Therefore, as a result of the economic hedge, we do not elect hedge accounting.
We also enter into hedges to mitigate currency risk primarily related to forecasted foreign currency denominated expenditures, intercompany financing agreements and royalty agreements and designate them as cash flow hedges. Gains and losses on derivatives designated as cash flow hedges, to the extent they are included in the assessment of effectiveness, are recorded in other comprehensive income (loss) and subsequently reclassified to earnings to offset the impact of the hedged items when they occur.
We may enter into cross-currency interest rate swaps to manage our exposure relating to cross-currency debt. Outstanding notional amounts of cross-currency interest rate swap agreements were $618 million at March 31, 2024 and December 31, 2023, respectively.
We may enter into interest rate swap agreements to manage interest rate risk exposure. Our interest rate swap agreements, if any, effectively modify our exposure to interest rate risk, primarily through converting certain floating rate debt to a fixed rate basis, or certain fixed rate debt to a floating rate basis. These agreements involve either the receipt or payment of floating rate amounts in exchange for fixed rate interest payments or receipts, respectively, over the life of the agreements without an exchange of the underlying principal amounts. We may enter into swap rate lock agreements to effectively reduce our exposure to interest rate risk by locking in interest rates on probable long-term debt issuances. There were no outstanding notional amounts of interest rate swap agreements at March 31, 2024 and December 31, 2023.
We may enter into instruments that are designated and qualify as a net investment hedge to manage our exposure related to foreign currency denominated investments. The effective portion of the instruments' gain or loss is reported as a component of other comprehensive income (loss) and recorded in accumulated other comprehensive loss. The gain or loss will be subsequently reclassified into net earnings when the underlying net investment is either sold or substantially liquidated. The remaining change in fair value of the hedge instruments represents the ineffective portion, which is immediately recognized in interest and sundry (income) expense on our Consolidated Condensed Statements of Comprehensive Income (Loss). There were no outstanding notional amounts of net investment hedges as of March 31, 2024 and December 31, 2023.
Fair Value Measurements Fair value is measured based on an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions market participants would use in pricing an asset or liability. Assets and liabilities measured at fair value are based on a market valuation approach using prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. As a basis for considering such assumptions, a three-tiered fair value hierarchy is established, which prioritizes the inputs used in measuring fair value as follows: (Level 1) observable inputs such as quoted prices in active markets; (Level 2) inputs, other than the quoted prices in active markets that are observable, either directly or indirectly; and (Level 3) unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.
v3.24.1.u1
BASIS OF PRESENTATION (Tables)
 3 Months Ended
Mar. 31, 2024
Accounting Policies [Abstract]  
Schedule of Supplier Finance Program The following table summarizes the changes in outstanding obligations for the periods presented:
Millions of dollarsOutstanding Obligations
Confirmed obligations outstanding as of December 31, 2023$843
Invoices confirmed during the period641
Confirmed invoices paid during the period(691)
Impact of foreign currency(1)
Confirmed obligations outstanding as of March 31, 2024$792
Schedule of Equity Method Investments The following tables summarize balances and transactions with Whirlpool China and its subsidiaries during the periods presented.
Millions of dollarsMarch 31, 2024December 31, 2023
Other noncurrent assetsCarrying value of equity interest$189 $187 
Accounts payableOutstanding amounts due$88 $91 
Millions of dollarsThree Months Ended March 31,
20242023
Purchases from Whirlpool China$77 $59 
v3.24.1.u1
REVENUE RECOGNITION (Tables)
 3 Months Ended
Mar. 31, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
The following table presents our disaggregated revenues by revenue source. For additional information on the disaggregated revenues by operating segment, see Note 13 to the Consolidated Condensed Financial Statements.
Three Months Ended March 31,
Millions of dollars20242023
Major product categories:
Laundry$1,264 $1,295 
Refrigeration1,254 1,372 
Cooking1,063 1,092 
Dishwashing428 432 
Total major product category net sales $4,009 $4,191 
Spare parts and warranties239 236 
Other242 222 
Total net sales$4,490 $4,649 
Schedule of Allowance for Doubtful Financing Receivables
The following table summarizes our allowance for expected credit losses and bad debt expense by operating segment for the three months ended March 31, 2024:
Millions of dollars
December 31, 2023 (1)
Charged to EarningsWrite-offsForeign CurrencyMarch 31, 2024
Accounts receivable allowance
MDA North America$4 $— $— $— $4 
MDA Latin America38 2 (1)1 40 
MDA Asia3 — — — 3 
SDA Global2 — — — 2 
Consolidated$47 $2 $(1)$1 $49 
Financing receivable allowance
MDA Latin America$29 $— $— $(1)$28 
Consolidated$76 $2 $(1)$— $77 
(1) Effective January 1, 2024, we reorganized our operating segment structure. All prior period amounts have been reclassified to conform with current period presentation. For additional information, see Note 13 to the Consolidated Condensed Financial Statements.
v3.24.1.u1
INVENTORIES (Tables)
 3 Months Ended
Mar. 31, 2024
Inventory, Net [Abstract]  
Schedule of Inventory
The following table summarizes our inventories at March 31, 2024 and December 31, 2023:
Millions of dollarsMarch 31, 2024December 31, 2023
Finished products$1,858 $1,732 
Raw materials and work in process523 515 
Total Inventories$2,381 $2,247 
v3.24.1.u1
PROPERTY, PLANT AND EQUIPMENT (Tables)
 3 Months Ended
Mar. 31, 2024
Property, Plant and Equipment [Abstract]  
Schedule of Property, Plant and Equipment
The following table summarizes our property, plant and equipment at March 31, 2024 and December 31, 2023:
Millions of dollarsMarch 31, 2024December 31, 2023
Land$29 $29 
Buildings940 893 
Machinery and equipment6,593 6,571 
Accumulated depreciation(5,322)(5,259)
Property, plant and equipment, net $2,240 $2,234 
v3.24.1.u1
FINANCING ARRANGEMENTS (Tables)
 3 Months Ended
Mar. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Notes Payable
The following table summarizes the carrying value of notes payable at March 31, 2024 and December 31, 2023:
Millions of dollarsMarch 31, 2024December 31, 2023
Commercial paper$475 $— 
Short-term borrowings due to banks25 17 
Total notes payable$500 $17 
v3.24.1.u1
COMMITMENTS AND CONTINGENCIES (Tables)
 3 Months Ended
Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Product Warranty Reserves The following table summarizes the changes in total product warranty liability reserves for the periods presented:
Product Warranty
Millions of dollars20242023
Balance at January 1 (1)
$206 $190 
Issuances/accruals during the period72 58
Settlements made during the period/other(80)(56)
Liabilities classified to held for sale (1)
3 — 
Balance at March 31
$201 $192 
Current portion$128 $131 
Non-current portion73 61 
Total$201 $192 
(1) Starting from the fourth quarter of 2022, product warranty reserve, and subsequent movements of the reserve, of our European major domestic appliance business has been transferred to liabilities held for sale.
v3.24.1.u1
PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS (Tables)
 3 Months Ended
Mar. 31, 2024
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]  
Schedule of Components of Net Periodic Benefit Cost
The following table summarizes the components of net periodic pension cost and the cost of other postretirement benefits for the periods presented:

Three Months Ended March 31,
United States
Pension Benefits		Foreign
Pension Benefits		Other Postretirement
Benefits
Millions of dollars202420232024202320242023
Service cost$1 $1 $1 $1 $— $— 
Interest cost25 29 7 6 2 2 
Expected return on plan assets(37)(36)(6)(6)— — 
Amortization:
Actuarial loss10 9 1 2 — — 
Prior service credit— — — — — (11)
Settlement and curtailment (gain) loss— — — — — — 
Net periodic benefit cost (credit)$(1)$3 $3 $3 $2 $(9)
Schedule of Net Periodic Cost Recognized in Operating Profit and Interest and Sundry (Income) Expense
The following table summarizes the net periodic cost recognized in operating profit and interest and sundry (income) expense for the periods presented:
Three Months Ended March 31,
United States
Pension Benefits		Foreign
Pension Benefits		Other Postretirement
Benefits
Millions of dollars202420232024202320242023
Operating profit (loss)$1 $1 $1 $1 $— $— 
Interest and sundry (income) expense(2)2 2 2 2 (9)
Net periodic benefit cost$(1)$3 $3 $3 $2 $(9)
v3.24.1.u1
HEDGES AND DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
 3 Months Ended
Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments
The following table summarizes our outstanding derivative contracts and their effects in our Consolidated Condensed Balance Sheets at March 31, 2024 and December 31, 2023. Hedge assets and liabilities of our European major domestic appliance business have been classified as held for sale and are excluded from the table below.
  Fair Value of 
Notional AmountHedge AssetsHedge LiabilitiesMaximum Term (Months)
Millions of dollars20242023202420232024202320242023
Derivatives accounted for as hedges(1)
Commodity swaps/options$185 $193 $7 $4 $5 $9 (CF)2124
Foreign exchange forwards/options981 952 7 1 12 31 (CF/NI)1515
Cross-currency swaps618 618 5 5 69 79 (CF)5962
Total derivatives accounted for as hedges$19 $10 $86 $119 
Derivatives not accounted for as hedges
Commodity swaps/options$— $— $— $— $— $— N/A00
Foreign exchange forwards/options318 1,569 — 13 2 9 N/A710
Total derivatives not accounted for as hedges— 13 2 9 
Total derivatives$19 $23 $88 $128 
Current$17 $22 $19 $46 
Noncurrent2 1 69 82 
Total derivatives$19 $23 $88 $128 
(1)Derivatives accounted for as hedges are considered cash flow (CF) hedges.
Schedule of Effects of Derivative Instruments on Consolidated Statements of Income (Loss)
The following tables summarize the effects of derivative instruments on our Consolidated Condensed Statements of Comprehensive Income (Loss) for the periods presented:
Three Months Ended March 31,
Gain (Loss)
Recognized in OCI
(Effective Portion ) (2)
Millions of dollars20242023
Cash flow hedges
     Commodity swaps/options$5 $— 
     Foreign exchange forwards/options15 (20)
     Cross-currency swaps13 (1)
     Interest rate derivatives— (1)
$33 $(22)
Three Months Ended March 31,
Location of Gain (Loss) Reclassified from
OCI into Earnings
(Effective Portion)
Gain (Loss) Reclassified from
OCI into Earnings
(Effective Portion)(3)
Cash Flow Hedges - Millions of dollars20242023
Commodity swaps/options Cost of products sold$(2)$— 
Foreign exchange forwards/optionsNet sales1 — 
Foreign exchange forwards/optionsCost of products sold(13)(8)
Foreign exchange forwards/optionsInterest and sundry (income) expense— 9 
Cross-currency swapsInterest and sundry (income) expense16 (7)
$2 $(6)
Three Months Ended March 31,
Location of Gain (Loss) Recognized on Derivatives not
Accounted for as Hedges		Gain (Loss) Recognized on Derivatives not
Accounted for as Hedges
Derivatives not Accounted for as Hedges - Millions of dollars20242023
Foreign exchange forwards/optionsInterest and sundry (income) expense$(3)$13 
(2)Change in gain (loss) recognized in OCI (effective portion) for the three months ended March 31, 2024 is primarily driven by fluctuations in currency and commodity prices and interest rates compared to prior year. The tax impact of the cash flow hedges was $(9) million and $5 million for the three months ended March 31, 2024 and 2023, respectively.
(3)Change in gain (loss) reclassified from OCI into earnings (effective portion) for the three months ended March 31, 2024 was primarily driven by fluctuations in currency and commodity prices and interest rates compared to prior year.
v3.24.1.u1
FAIR VALUE MEASUREMENTS (Tables)
 3 Months Ended
Mar. 31, 2024
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following table summarizes the valuation of our assets and liabilities measured at fair value on a recurring basis at March 31, 2024 and December 31, 2023:
Fair Value
Millions of dollarsTotal Cost BasisLevel 1Level 2Total
Measured at fair value on a recurring basis:20242023202420232024202320242023
Short-term investments (1)
$692 $1,126 $416 $867 $276 $259 $692 $1,126 
Net derivative contracts— — — — (69)(105)(69)(105)
(1)Short-term investments are primarily comprised of money market funds and highly liquid, low risk investments with initial maturities less than 90 days.
v3.24.1.u1
STOCKHOLDERS' EQUITY (Tables)
 3 Months Ended
Mar. 31, 2024
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
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 subsidiary462 — 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 
 TotalRetained
Earnings		Accumulated Other Comprehensive Income (Loss)Treasury Stock / Additional Paid-In-CapitalCommon
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 $173 
Schedule of Other Comprehensive Income (Loss)
The following table summarizes our other comprehensive income (loss) and related tax effects for the periods presented:
Three Months Ended March 31,
20242023
Millions of dollarsPre-taxTax EffectNetPre-taxTax EffectNet
Currency translation adjustments$(29)$— $(29)$(1)$— $(1)
Cash flow hedges33 (9)24 (16)5 (11)
Pension and other postretirement benefits plans10 (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 $(1)
Schedule of Basic and Diluted Net Earnings (Loss) Per Share Basic and diluted net earnings (loss) per share of common stock for the periods presented were calculated as follows:
Three Months Ended March 31,
Millions of dollars and shares20242023
Numerator for basic and diluted earnings per share - Net earnings (loss) available to Whirlpool$(259)$(179)
Denominator for basic earnings per share - weighted-average shares54.9 54.8 
Denominator for diluted earnings per share - adjusted weighted-average shares54.9 54.8 
Anti-dilutive stock options/awards excluded from earnings per share1.2 0.9 
v3.24.1.u1
RESTRUCTURING CHARGES (Tables)
 3 Months Ended
Mar. 31, 2024
Restructuring Charges [Abstract]  
Schedule of Restructuring Reserve
The following table summarizes the changes to our restructuring liability during the three months ended March 31, 2024:
Millions of DollarsDecember 31, 2023Charge to EarningsCash PaidNon-Cash and OtherMarch 31, 2024
Employee Termination$10 $14 $(14)$— $10 
Other exit costs— 9 — — 9 
Total$10 $23 $(14)$— $19 
Schedule of Restructuring Charges by Segment
The following table summarizes the restructuring charges by operating segment and Corporate for the periods presented:
Millions of dollarsThree Months Ended March 31
20242023
MDA North America$4 $— 
MDA Latin America3 — 
MDA Asia1 — 
Corporate/Other15 — 
Total$23 $— 
v3.24.1.u1
INCOME TAXES (Tables)
 3 Months Ended
Mar. 31, 2024
Income Tax Disclosure [Abstract]  
Schedule of Effective Income Tax Rate Reconciliation
The following table summarizes the difference between income tax expense (benefit) at the U.S. statutory rate of 21% and the income tax expense (benefit) at effective worldwide tax rates for the respective periods:
Three Months Ended March 31,
Millions of dollars20242023
Earnings (Loss) before income taxes$(177)$(109)
Income tax expense (benefit) computed at United States statutory tax rate(37)(23)
State and local taxes, net of federal tax benefit(1)1 
Valuation allowances19 4 
Audit and Settlements2 20 
U.S. foreign income items, net of credits(13)2 
Sale of minority shares and capital gains79 — 
Legal Entity restructuring tax impact(35)— 
Non deductible impairments49 50 
Non deductible fines and penalties— 10 
Other13 4 
Income tax expense (benefit) computed at effective worldwide tax rates$76 $68 
v3.24.1.u1
SEGMENT INFORMATION (Tables)
 3 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
Schedule of Segment Information
The tables below summarize performance by operating segment for the periods presented:
Three Months Ended March 31,
 OPERATING SEGMENTS
MDA North
America		MDA Latin
America		MDA AsiaMDA EuropeSDA GlobalOther / EliminationsTotal
Whirlpool
Net sales
2024$2,428 $837 $239 $804 $182 $— $4,490 
2023
2,641 747 245 846 170 — 4,649 
Intersegment sales
2024$33 $303 $10 $23 $10 $(379)$— 
2023 58 378 10 23 — (469)— 
Depreciation and amortization
2024$48 $18 $6 $— $3 $14 $89 
2023
49 17 5 — 3 15 89 
EBIT
2024$135 $65 $11 $(9)$33 $(322)$(87)
2023
266 36 8 (5)19 (357)(33)
Total assets
March 31, 2024$10,447 $3,957 $1,149 $— $1,404 $413 $17,370 
December 31, 2023
10,217 4,037 1,054 685 1,134 185 17,312 
Capital expenditures
2024$42 $40 $3 $22 $2 $6 $115 
2023
45 15 2 19 3 12 96 
The following table summarizes the reconciling items in the Other/Eliminations column for total EBIT for the periods presented:
Three Months Ended March 31,
in millions20242023
Items not allocated to segments:
Restructuring charges$(23)$— 
Legacy MDA Europe legal matters— (62)
(Loss) gain on sale and disposal of businesses(247)(222)
Corporate expenses and other(52)(73)
Total other/eliminations$(322)$(357)
A reconciliation of our segment information for total EBIT to the corresponding amounts in the Consolidated Condensed Statements of Comprehensive Income (Loss) is shown in the table below for the periods presented:
Three Months Ended March 31,
in millions20242023
Operating (loss) profit$(116)$43 
Interest and sundry (income) expense(29)77 
Equity method investment income (loss), net of tax— 1 
Total EBIT$(87)$(33)
Interest expense90 75 
Income tax expense76 68 
Net earnings (loss)$(253)$(176)
Less: Net earnings available to noncontrolling interests6 3 
Net earnings (loss) available to Whirlpool$(259)$(179)
v3.24.1.u1
ACQUISITIONS AND DIVESTITURES (Tables)
 3 Months Ended
Mar. 31, 2024
Business Combination, Asset Acquisition, Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Disposal Groups, Including Discontinued Operations
The European disposal group is classified as held for sale as of March 31, 2024 and the following table presents the carrying amounts of the major classes of the disposal group's assets and liabilities as of March 31, 2024 and December 31, 2023, respectively.

Millions of dollarsMarch 31, 2024December 31, 2023
Carrying amounts of major classes of assets
Current Assets
Cash and cash equivalents (1)
$245 $97 
Accounts receivable, net of allowance of $28 and $28, respectively
646 578 
Inventories555 589 
Prepaid and other current assets101 94 
Total current assets1,547 1,358 
Property, net of accumulated depreciation of $1,370 and $1,442, respectively
952 952 
Right of use assets151 162 
Other intangibles, net of accumulated amortization of $146 and $149, respectively
280 286 
Deferred income taxes553 574 
Other noncurrent assets34 13 
Total noncurrent assets1,970 1,987 
Total assets$3,517 $3,345 
Carrying amounts of major classes of liabilities
Current liabilities
Accounts payable$1,179 $1,266 
Accrued expenses208 218 
Accrued advertising and promotions122 171 
Employee compensation130 120 
Notes payable8 4 
Other current liabilities89 97 
Total current liabilities1,736 1,876 
Noncurrent liabilities
Pension benefits160 168 
Lease liabilities121 132 
Other noncurrent liabilities122 87 
Total noncurrent liabilities403 387 
Total liabilities$2,139 $2,263 
Total net assets of the disposal group classified as held for sale$1,378 $1,082 
Assets held for sale
Fair value of consideration
$227 $144 
Liabilities held for saleCumulative currency translation adjustment and Other comprehensive income on pension$577 $587 
(1) Cash and cash equivalents of the disposal group increased due to cash retained in Europe for certain contingencies and other retained liabilities.
The following table summarizes the MDA Europe's earnings (loss) available to Whirlpool before income taxes for the three months ended March 31, 2024 and March 31, 2023 respectively:
Three Months Ended March 31,
in millions20242023
Earnings (loss) before income taxes$(9)$— 
v3.24.1.u1
BASIS OF PRESENTATION - Narrative (Details) - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Schedule of Equity Method Investments [Line Items]    
Residual value guarantees $ 378 $ 378
Customer Relationships | Elica PB India    
Schedule of Equity Method Investments [Line Items]    
Finite-lived intangible assets, net $ 28 29
Whirlpool China    
Schedule of Equity Method Investments [Line Items]    
Equity interest percentage 20.00%  
Equity method investment, quoted market value $ 177  
Elica PB India | Whirlpool India    
Schedule of Equity Method Investments [Line Items]    
Equity interest percentage 87.00%  
Held-for-sale | European Major Domestic Appliance Business    
Schedule of Equity Method Investments [Line Items]    
Supply chain financing arrangements obligation $ 395 $ 393
Minimum    
Schedule of Equity Method Investments [Line Items]    
Supply chain financing arrangements obligation, payment term 120 days  
Maximum    
Schedule of Equity Method Investments [Line Items]    
Supply chain financing arrangements obligation, payment term 180 days  
v3.24.1.u1
BASIS OF PRESENTATION - Schedule of Supplier Finance Program (Details)
$ in Millions
 3 Months Ended
Mar. 31, 2024
USD ($)
Supplier Finance Program Obligation Roll Forward [Abstract]  
Confirmed obligations outstanding as of December 31, 2023 $ 843
Invoices confirmed during the period 641
Confirmed invoices paid during the period (691)
Impact of foreign currency (1)
Confirmed obligations outstanding as of March 31, 2024 $ 792
v3.24.1.u1
BASIS OF PRESENTATION - Schedule of Equity Method Investments (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Schedule of Equity Method Investments [Line Items]      
Carrying value of equity interest $ 353   $ 379
Outstanding amounts due 3,404   3,598
Related Party | Whirlpool China      
Schedule of Equity Method Investments [Line Items]      
Carrying value of equity interest 189   187
Outstanding amounts due 88   $ 91
Purchases from Whirlpool China $ 77 $ 59  
v3.24.1.u1
REVENUE RECOGNITION - Schedule of Disaggregation of Revenue (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Disaggregation of Revenue [Line Items]    
Net sales $ 4,490 $ 4,649
Total major product category net sales    
Disaggregation of Revenue [Line Items]    
Net sales 4,009 4,191
Laundry    
Disaggregation of Revenue [Line Items]    
Net sales 1,264 1,295
Refrigeration    
Disaggregation of Revenue [Line Items]    
Net sales 1,254 1,372
Cooking    
Disaggregation of Revenue [Line Items]    
Net sales 1,063 1,092
Dishwashing    
Disaggregation of Revenue [Line Items]    
Net sales 428 432
Spare parts and warranties    
Disaggregation of Revenue [Line Items]    
Net sales 239 236
Other    
Disaggregation of Revenue [Line Items]    
Net sales $ 242 $ 222
v3.24.1.u1
REVENUE RECOGNITION - Schedule of Allowance for Doubtful Accounts by Operating Segment (Details)
$ in Millions
 3 Months Ended
Mar. 31, 2024
USD ($)
Accounts receivable allowance  
Balance at beginning of period $ 47
Charged to Earnings 2
Write-offs (1)
Foreign Currency 1
Balance at end of period 49
Financing receivable allowance  
Balance at beginning of period 76
Charged to Earnings 2
Write-offs (1)
Foreign Currency 0
Balance at end of period 77
MDA North America  
Accounts receivable allowance  
Balance at beginning of period 4
Charged to Earnings 0
Write-offs 0
Foreign Currency 0
Balance at end of period 4
MDA Latin America  
Accounts receivable allowance  
Balance at beginning of period 38
Charged to Earnings 2
Write-offs (1)
Foreign Currency 1
Balance at end of period 40
Financing receivable allowance  
Balance at beginning of period 29
Charged to Earnings 0
Write-offs 0
Foreign Currency (1)
Balance at end of period 28
MDA Asia  
Accounts receivable allowance  
Balance at beginning of period 3
Charged to Earnings 0
Write-offs 0
Foreign Currency 0
Balance at end of period 3
SDA Global  
Accounts receivable allowance  
Balance at beginning of period 2
Charged to Earnings 0
Write-offs 0
Foreign Currency 0
Balance at end of period $ 2
v3.24.1.u1
INVENTORIES (Details) - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Inventory, Net [Abstract]    
Finished products $ 1,858 $ 1,732
Raw materials and work in process 523 515
Total Inventories $ 2,381 $ 2,247
v3.24.1.u1
PROPERTY, PLANT AND EQUIPMENT - Schedule of Property, Plant and Equipment (Details) - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Property, Plant and Equipment [Line Items]    
Accumulated depreciation $ (5,322) $ (5,259)
Property, plant and equipment, net 2,240 2,234
Land    
Property, Plant and Equipment [Line Items]    
Property, plant and equipment 29 29
Buildings    
Property, Plant and Equipment [Line Items]    
Property, plant and equipment 940 893
Machinery and equipment    
Property, Plant and Equipment [Line Items]    
Property, plant and equipment $ 6,593 $ 6,571
v3.24.1.u1
PROPERTY, PLANT AND EQUIPMENT - Narrative (Details) - USD ($)
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Property, Plant and Equipment [Abstract]    
Net book value of land, buildings, machinery and equipment disposals $ 2,000,000 $ 1,000,000
Net gain on disposals of land, buildings, machinery and equipment $ 0 $ 0
v3.24.1.u1
FINANCING ARRANGEMENTS - Narrative (Details)
 1 Months Ended 3 Months Ended
Feb. 27, 2024
USD ($)
Feb. 14, 2023
USD ($)
Sep. 23, 2022
USD ($)
Aug. 07, 2022
USD ($)
May 03, 2022
USD ($)
Apr. 25, 2024
USD ($)
Dec. 31, 2023
USD ($)
Mar. 31, 2024
USD ($)
tranche
Mar. 31, 2023
USD ($)
Feb. 22, 2023
USD ($)
Debt Instrument [Line Items]                    
Current maturities of long-term debt             $ 800,000,000 $ 500,000,000    
Repayments of long-term debt               300,000,000 $ 250,000,000  
Accounts Receivable                    
Debt Instrument [Line Items]                    
Outstanding receivables transferred under arrangements, continued services             379,000,000 131,000,000    
Cash proceeds from sale of transferred receivables               131,000,000 $ 51,000,000  
Letter of Credit                    
Debt Instrument [Line Items]                    
Line of credit facility, maximum borrowing capacity             218,000,000 212,000,000    
Emerson’s InSinkErator Business                    
Debt Instrument [Line Items]                    
Business combination, consideration transferred       $ 3,000,000,000            
Line of Credit | Revolving Credit Facility                    
Debt Instrument [Line Items]                    
Outstanding borrowings             2,000,000,000 2,000,000,000    
5.750% Notes Maturing 2034 | Senior Notes                    
Debt Instrument [Line Items]                    
Debt instrument, face amount                   $ 300,000,000
Debt instrument, interest rate, stated percentage                   5.75%
4.000% Notes Maturing 2024 | Senior Notes                    
Debt Instrument [Line Items]                    
Debt instrument, face amount $ 300,000,000                  
Debt instrument, interest rate, stated percentage 4.00%                  
Debt instrument, redemption price, percentage 101.00%                  
5.500% Notes Maturing 2033 | Senior Notes                    
Debt Instrument [Line Items]                    
Debt instrument, face amount                   $ 300,000,000
Debt instrument, interest rate, stated percentage                   5.50%
3.700% Notes Maturing 2033 | Senior Notes                    
Debt Instrument [Line Items]                    
Debt instrument, face amount   $ 250,000,000                
Debt instrument, interest rate, stated percentage   3.70%                
Debt instrument, redemption price, percentage   101.00%                
Term Loan | Secured Debt                    
Debt Instrument [Line Items]                    
Debt instrument, face amount     $ 2,500,000,000              
Outstanding borrowings               2,000,000,000    
Current maturities of long-term debt               $ 500,000,000    
Debt instrument, number of tranches | tranche               2    
Debt instrument, ticking fee percentage     12.50%              
Minimum coverage ration for debt covenant     3.0              
Term Loan | Secured Debt | Prime Rate                    
Debt Instrument [Line Items]                    
Debt instrument, basis spread on variable rate     0.00%              
Term Loan, Tranche One | Secured Debt                    
Debt Instrument [Line Items]                    
Debt instrument, face amount               $ 1,000,000,000    
Debt instrument, term     18 months              
Term Loan, Tranche One | Secured Debt | Secured Overnight Financing Rate (SOFR)                    
Debt Instrument [Line Items]                    
Debt instrument, basis spread on variable rate     0.975%              
Term Loan, Tranche Two | Secured Debt                    
Debt Instrument [Line Items]                    
Debt instrument, face amount               1,500,000,000    
Repayments of long-term debt             $ 500,000,000      
Debt instrument, term     3 years              
Term Loan, Tranche Two | Secured Debt | Subsequent Event                    
Debt Instrument [Line Items]                    
Repayments of long-term debt           $ 500,000,000        
Term Loan, Tranche Two | Secured Debt | Secured Overnight Financing Rate (SOFR)                    
Debt Instrument [Line Items]                    
Debt instrument, basis spread on variable rate     1.225%              
Fifth Amended and Restated Long-Term Credit Agreement | Line of Credit | Revolving Credit Facility                    
Debt Instrument [Line Items]                    
Minimum coverage ration for debt covenant         3.0          
Line of credit facility, maximum borrowing capacity         $ 3,500,000,000     $ 3,500,000,000    
Fifth Amended and Restated Long-Term Credit Agreement | Line of Credit | Interest Rate Margin | Revolving Credit Facility                    
Debt Instrument [Line Items]                    
Debt instrument, basis spread on variable rate         1.125%          
Fifth Amended and Restated Long-Term Credit Agreement | Line of Credit | SOFR spread adjustment | Revolving Credit Facility                    
Debt Instrument [Line Items]                    
Debt instrument, basis spread on variable rate         0.10%          
Fifth Amended and Restated Long-Term Credit Agreement | Line of Credit | Alternate Base Rate | Revolving Credit Facility                    
Debt Instrument [Line Items]                    
Debt instrument, basis spread on variable rate         0.125%          
v3.24.1.u1
FINANCING ARRANGEMENTS - Schedule of Notes Payable (Details) - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Short-term Debt [Line Items]    
Notes payable $ 500 $ 17
Commercial paper    
Short-term Debt [Line Items]    
Notes payable 475 0
Short-term borrowings due to banks    
Short-term Debt [Line Items]    
Notes payable $ 25 $ 17
v3.24.1.u1
COMMITMENTS AND CONTINGENCIES - Narrative (Details)
R$ in Millions
 1 Months Ended 6 Months Ended 12 Months Ended 24 Months Ended
Dec. 31, 2020
defendant
Jun. 30, 2023
USD ($)
Dec. 31, 2009
USD ($)
Dec. 31, 2004
USD ($)
Mar. 31, 2024
BRL (R$)
Mar. 31, 2024
USD ($)
Dec. 31, 2023
BRL (R$)
Dec. 31, 2023
USD ($)
Commitments and Contingencies [Line Items]                
Outstanding BEFIEX tax assessment         R$ 2,300 $ 461,000,000    
Loss contingency accrual, provision   $ 69,000,000            
Customer Lines of Credit for Brazilian Subsidiary                
Commitments and Contingencies [Line Items]                
Guarantor obligations, maximum exposure         1,200 246,000,000 R$ 1,300 $ 273,000,000
Guarantee of Indebtedness of Others                
Commitments and Contingencies [Line Items]                
Guarantor obligations, maximum exposure           2,900,000,000   3,000,000,000
Guarantor obligations, current carrying value           25,000,000   $ 17,000,000
Grenfell Tower                
Commitments and Contingencies [Line Items]                
Number of defendants | defendant 20              
Brazil Tax Matters                
Commitments and Contingencies [Line Items]                
IPI tax credits recognized       $ 26,000,000        
Special government program settlement     $ 34,000,000          
Brazil tax assessment         287 58,000,000    
CFC Tax                
Commitments and Contingencies [Line Items]                
CFC potential exposure         R$ 338 68,000,000    
Loss contingency accrual           $ 0    
v3.24.1.u1
COMMITMENTS AND CONTINGENCIES - Schedule of Product Warranty Reserves (Details) - Product Warranty - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]    
Balance at January 1 $ 206 $ 190
Issuances/accruals during the period 72 58
Settlements made during the period/other (80) (56)
Liabilities classified to held for sale 3 0
Balance at March 31 201 192
Current portion 128 131
Non-current portion 73 61
Total $ 201 $ 192
v3.24.1.u1
PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS - Schedule of Components of Net Periodic Benefit Cost (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Other Postretirement Benefits    
Defined Benefit Plan Disclosure [Line Items]    
Service cost $ 0 $ 0
Interest cost 2 2
Expected return on plan assets 0 0
Amortization [Abstract]    
Actuarial loss 0 0
Prior service credit 0 (11)
Settlement and curtailment (gain) loss 0 0
Net periodic benefit cost (credit) 2 (9)
United States Pension Benefits | Pension Benefits    
Defined Benefit Plan Disclosure [Line Items]    
Service cost 1 1
Interest cost 25 29
Expected return on plan assets (37) (36)
Amortization [Abstract]    
Actuarial loss 10 9
Prior service credit 0 0
Settlement and curtailment (gain) loss 0 0
Net periodic benefit cost (credit) (1) 3
Foreign Pension Benefits | Pension Benefits    
Defined Benefit Plan Disclosure [Line Items]    
Service cost 1 1
Interest cost 7 6
Expected return on plan assets (6) (6)
Amortization [Abstract]    
Actuarial loss 1 2
Prior service credit 0 0
Settlement and curtailment (gain) loss 0 0
Net periodic benefit cost (credit) $ 3 $ 3
v3.24.1.u1
PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS - Schedule of Net Periodic Cost Recognized in Operating Profit and Interest and Sundry (Income) Expense (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Other Postretirement Benefits    
Defined Benefit Plan Disclosure [Line Items]    
Net periodic benefit cost $ 2 $ (9)
Operating profit (loss) | Other Postretirement Benefits    
Defined Benefit Plan Disclosure [Line Items]    
Net periodic benefit cost 0 0
Interest and sundry (income) expense | Other Postretirement Benefits    
Defined Benefit Plan Disclosure [Line Items]    
Net periodic benefit cost 2 (9)
United States Pension Benefits | Pension Benefits    
Defined Benefit Plan Disclosure [Line Items]    
Net periodic benefit cost (1) 3
United States Pension Benefits | Operating profit (loss) | Pension Benefits    
Defined Benefit Plan Disclosure [Line Items]    
Net periodic benefit cost 1 1
United States Pension Benefits | Interest and sundry (income) expense | Pension Benefits    
Defined Benefit Plan Disclosure [Line Items]    
Net periodic benefit cost (2) 2
Foreign Pension Benefits | Pension Benefits    
Defined Benefit Plan Disclosure [Line Items]    
Net periodic benefit cost 3 3
Foreign Pension Benefits | Operating profit (loss) | Pension Benefits    
Defined Benefit Plan Disclosure [Line Items]    
Net periodic benefit cost 1 1
Foreign Pension Benefits | Interest and sundry (income) expense | Pension Benefits    
Defined Benefit Plan Disclosure [Line Items]    
Net periodic benefit cost $ 2 $ 2
v3.24.1.u1
PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS - Narrative (Details)
 3 Months Ended
Mar. 31, 2024
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]  
Defined contribution plan, employer matching contribution, percent of match 7.00%
v3.24.1.u1
HEDGES AND DERIVATIVE FINANCIAL INSTRUMENTS - Narrative (Details) - USD ($)
 3 Months Ended
Mar. 31, 2024
Dec. 31, 2023
Mar. 31, 2023
Derivative [Line Items]      
Loss expected to be reclassified in next twelve months $ 7,000,000    
Derivatives accounted for as hedges | Cross-currency swaps      
Derivative [Line Items]      
Notional amount 618,000,000 $ 618,000,000 $ 618,000,000
Derivatives accounted for as hedges | Interest rate derivatives      
Derivative [Line Items]      
Notional amount 0 0  
Derivatives accounted for as hedges | Net Investment hedges      
Derivative [Line Items]      
Notional amount $ 0 $ 0  
v3.24.1.u1
HEDGES AND DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Outstanding Derivative Contracts (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Derivatives, Fair Value [Line Items]      
Hedge Assets $ 19 $ 23  
Hedge Liabilities 88 128  
Derivative asset at fair value, current 17 22  
Derivative asset at fair value, noncurrent 2 1  
Total derivatives, hedge assets at fair value 19 23  
Derivative liability at fair value, current 19 46  
Derivative liability at fair value, noncurrent 69 82  
Total derivatives, hedge liabilities at fair value 88 128  
Derivatives accounted for as hedges      
Derivatives, Fair Value [Line Items]      
Hedge Assets 19 10  
Hedge Liabilities 86 119  
Derivatives accounted for as hedges | Commodity swaps/options      
Derivatives, Fair Value [Line Items]      
Notional Amount 185 193  
Hedge Assets 7 4  
Hedge Liabilities $ 5 $ 9  
Maximum term of commodity swaps/options 21 months 24 months  
Derivatives accounted for as hedges | Foreign exchange forwards/options      
Derivatives, Fair Value [Line Items]      
Notional Amount $ 981 $ 952  
Hedge Assets 7 1  
Hedge Liabilities $ 12 $ 31  
Maximum term of foreign exchange forwards/options 15 months 15 months  
Derivatives accounted for as hedges | Cross-currency swaps      
Derivatives, Fair Value [Line Items]      
Notional Amount $ 618 $ 618 $ 618
Hedge Assets 5 5  
Hedge Liabilities $ 69 $ 79  
Maximum term of cross-currency swaps 59 months 62 months  
Derivatives not accounted for as hedges      
Derivatives, Fair Value [Line Items]      
Hedge Assets $ 0 $ 13  
Hedge Liabilities 2 9  
Derivatives not accounted for as hedges | Commodity swaps/options      
Derivatives, Fair Value [Line Items]      
Notional Amount 0 0  
Hedge Assets 0 0  
Hedge Liabilities $ 0 $ 0  
Maximum term of commodity swaps/options 0 months 0 months  
Derivatives not accounted for as hedges | Foreign exchange forwards/options      
Derivatives, Fair Value [Line Items]      
Notional Amount $ 318 $ 1,569  
Hedge Assets 0 13  
Hedge Liabilities $ 2 $ 9  
Maximum term of foreign exchange forwards/options 7 months 10 months  
v3.24.1.u1
HEDGES AND DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Effects of Derivative Instruments on Consolidated Condensed Statements of Income (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) Recognized in OCI (Effective Portion) $ 33 $ (22)
Gain (Loss) Reclassified from OCI into Earnings (Effective Portion) 2 (6)
Foreign exchange forwards/options | Interest and sundry (income) expense    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) Recognized on Derivatives not Accounted for as Hedges (3) 13
Cash flow hedges    
Derivative Instruments, Gain (Loss) [Line Items]    
Tax impact of cash flow hedges (9) 5
Cash flow hedges | Commodity swaps/options    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) Recognized in OCI (Effective Portion) 5 0
Cash flow hedges | Commodity swaps/options | Cost of products sold    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) Reclassified from OCI into Earnings (Effective Portion) (2) 0
Cash flow hedges | Foreign exchange forwards/options    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) Recognized in OCI (Effective Portion) 15 (20)
Cash flow hedges | Foreign exchange forwards/options | Cost of products sold    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) Reclassified from OCI into Earnings (Effective Portion) (13) (8)
Cash flow hedges | Foreign exchange forwards/options | Net sales    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) Reclassified from OCI into Earnings (Effective Portion) 1 0
Cash flow hedges | Foreign exchange forwards/options | Interest and sundry (income) expense    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) Reclassified from OCI into Earnings (Effective Portion) 0 9
Cash flow hedges | Cross-currency swaps    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) Recognized in OCI (Effective Portion) 13 (1)
Cash flow hedges | Cross-currency swaps | Interest and sundry (income) expense    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) Reclassified from OCI into Earnings (Effective Portion) 16 (7)
Cash flow hedges | Interest rate derivatives    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) Recognized in OCI (Effective Portion) $ 0 $ (1)
v3.24.1.u1
FAIR VALUE MEASUREMENTS - Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term investments $ 692 $ 1,126
Net derivative contracts (69) (105)
Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term investments 416 867
Net derivative contracts 0 0
Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term investments 276 259
Net derivative contracts (69) (105)
Total Cost Basis    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term investments 692 1,126
Net derivative contracts $ 0 $ 0
v3.24.1.u1
FAIR VALUE MEASUREMENTS - Narrative (Details)
$ in Millions
 3 Months Ended
Mar. 31, 2024
USD ($)
Mar. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2023
USD ($)
Jan. 16, 2023
Dec. 20, 2022
USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Loss (gain) on sale and disposal of businesses $ 247 $ 222        
Level 2            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Long-term debt, fair value 6,800     $ 6,900    
Held-for-sale | European Major Domestic Appliance Business            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Loss (gain) on sale and disposal of businesses 247 $ 222 $ 1,500      
Newly Formed European Appliance Company | Arcelik B.V.            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Ownership percentage         75.00%  
Newly Formed European Appliance Company            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Equity interest percentage         25.00%  
Equity method investments $ 227         $ 139
Newly Formed European Appliance Company | Valuation Technique, Discounted Cash Flow            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Equity method investments, measurement input 0.155         0.165
v3.24.1.u1
STOCKHOLDERS' EQUITY - Schedule of Changes in Stockholders' Equity (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Increase (Decrease) in Stockholders' Equity [Roll Forward]    
Beginning balance $ 2,537 $ 2,506
Comprehensive income (loss)    
Net earnings (loss) (253) (176)
Other comprehensive income 3 (1)
Comprehensive income (loss) (250) (177)
Stock issued (repurchased) (45) 2
Sale of minority interest in subsidiary 462  
Dividends declared (94) (97)
Ending balance 2,610 2,234
Retained Earnings    
Increase (Decrease) in Stockholders' Equity [Roll Forward]    
Beginning balance 8,358 8,261
Comprehensive income (loss)    
Net earnings (loss) (259) (179)
Comprehensive income (loss) (259) (179)
Dividends declared (95) (97)
Ending balance 8,004 7,985
Accumulated Other Comprehensive Income (Loss)    
Increase (Decrease) in Stockholders' Equity [Roll Forward]    
Beginning balance (2,178) (2,090)
Comprehensive income (loss)    
Other comprehensive income 3 (1)
Comprehensive income (loss) 3 (1)
Sale of minority interest in subsidiary 18  
Ending balance (2,157) (2,091)
Treasury Stock / Additional Paid-In-Capital    
Increase (Decrease) in Stockholders' Equity [Roll Forward]    
Beginning balance (3,932) (3,949)
Comprehensive income (loss)    
Stock issued (repurchased) (45) 2
Sale of minority interest in subsidiary 370  
Ending balance (3,607) (3,947)
Common Stock    
Increase (Decrease) in Stockholders' Equity [Roll Forward]    
Beginning balance 114 114
Comprehensive income (loss)    
Ending balance 114 114
Non-Controlling Interest    
Increase (Decrease) in Stockholders' Equity [Roll Forward]    
Beginning balance 175 170
Comprehensive income (loss)    
Net earnings (loss) 6 3
Other comprehensive income 0 0
Comprehensive income (loss) 6 3
Sale of minority interest in subsidiary 74  
Dividends declared 1  
Ending balance $ 256 $ 173
v3.24.1.u1
STOCKHOLDERS' EQUITY - Schedule of Other Comprehensive Income (Loss) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Pre-tax $ 14 $ (4)
Tax Effect (11) 3
Net 3 (1)
Currency translation adjustments    
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Pre-tax (29) (1)
Tax Effect 0 0
Net (29) (1)
Cash flow hedges    
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Pre-tax 33 (16)
Tax Effect (9) 5
Net 24 (11)
Pension and other postretirement benefits plans    
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Pre-tax 10 13
Tax Effect (2) (2)
Net 8 11
Other comprehensive income (loss) available to noncontrolling interests    
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Pre-tax 0 0
Tax Effect 0 0
Net 0 0
Other comprehensive income (loss) available to Whirlpool    
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Pre-tax 14 (4)
Tax Effect (11) 3
Net $ 3 $ (1)
v3.24.1.u1
STOCKHOLDERS' EQUITY - Schedule of Net Earnings (Loss) Per Share (Details) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Stockholders' Equity Note [Abstract]    
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 (in shares) 54.9 54.8
Denominator for diluted earnings per share – adjusted weighted-average shares (in shares) 54.9 54.8
Anti-dilutive stock options/awards excluded from earnings per share (in shares) 1.2 0.9
v3.24.1.u1
STOCKHOLDERS' EQUITY - Narrative (Details) - Common Stock - USD ($)
shares in Thousands
 3 Months Ended
Feb. 14, 2022
Mar. 31, 2024
Apr. 19, 2021
Equity, Class of Treasury Stock [Line Items]      
Stock repurchase program, authorized amount     $ 2,000,000,000
Stock repurchase program, additional authorized amount $ 2,000,000,000    
Stock repurchased during period, shares (in shares)   456  
Stock repurchased during period, value   $ 50,000,000  
Stock repurchase program, remaining authorized repurchase amount   $ 2,500,000,000  
v3.24.1.u1
RESTRUCTURING CHARGES - Narrative (Details) - Workforce Reduction Plan
$ in Millions
Mar. 31, 2024
USD ($)
Restructuring Cost and Reserve [Line Items]  
Restructuring and related cost, expected cost $ 23
Employee Termination  
Restructuring Cost and Reserve [Line Items]  
Restructuring and related cost, total costs to date 14
Other exit costs  
Restructuring Cost and Reserve [Line Items]  
Restructuring and related cost, total costs to date $ 9
v3.24.1.u1
RESTRUCTURING CHARGES - Schedule of Changes to Restructuring Liability (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Restructuring Reserve [Roll Forward]    
Restructuring reserve, beginning balance $ 10  
Charge to Earnings 23 $ 0
Cash Paid (14)  
Non-Cash and Other 0  
Restructuring reserve, ending balance 19  
Employee Termination    
Restructuring Reserve [Roll Forward]    
Restructuring reserve, beginning balance 10  
Charge to Earnings 14  
Cash Paid (14)  
Non-Cash and Other 0  
Restructuring reserve, ending balance 10  
Other exit costs    
Restructuring Reserve [Roll Forward]    
Restructuring reserve, beginning balance 0  
Charge to Earnings 9  
Cash Paid 0  
Non-Cash and Other 0  
Restructuring reserve, ending balance $ 9  
v3.24.1.u1
RESTRUCTURING CHARGES - Schedule of Charges by Segment (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Restructuring Cost and Reserve [Line Items]    
Restructuring costs $ 23 $ 0
Operating Segments | MDA North America    
Restructuring Cost and Reserve [Line Items]    
Restructuring costs 4 0
Operating Segments | MDA Latin America    
Restructuring Cost and Reserve [Line Items]    
Restructuring costs 3 0
Operating Segments | MDA Asia    
Restructuring Cost and Reserve [Line Items]    
Restructuring costs 1 0
Corporate/Other    
Restructuring Cost and Reserve [Line Items]    
Restructuring costs $ 15 $ 0
v3.24.1.u1
INCOME TAXES - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Apr. 02, 2024
Jun. 30, 2024
Income Tax Disclosure [Abstract]        
Income tax expense $ 76 $ 68    
Income Tax Contingency [Line Items]        
Loss on sale of business $ 247 $ 222    
Minimum | Forecast        
Income Tax Contingency [Line Items]        
Deferred tax assets, sale of business       $ 100
Maximum | Forecast        
Income Tax Contingency [Line Items]        
Deferred tax assets, sale of business       $ 300
Disposed of by Sale | European Major Domestic Appliance Business | Subsequent Event        
Income Tax Contingency [Line Items]        
Loss on sale of business     $ 1,900  
v3.24.1.u1
INCOME TAXES - Schedule of Income Taxes (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Income Tax Disclosure [Abstract]    
Earnings (Loss) before income taxes $ (177) $ (109)
Income tax expense (benefit) computed at United States statutory tax rate (37) (23)
State and local taxes, net of federal tax benefit (1) 1
Valuation allowances 19 4
Audit and Settlements 2 20
U.S. foreign income items, net of credits (13) 2
Sale of minority shares and capital gains 79 0
Legal entity restructuring tax impact (35) 0
Non deductible impairments 49 50
Non deductible fines and penalties 0 10
Other 13 4
Income tax expense (benefit) computed at effective worldwide tax rates $ 76 $ 68
v3.24.1.u1
SEGMENT INFORMATION - Schedule of Operating Segment Information (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Segment Reporting Information [Line Items]      
Net sales $ 4,490 $ 4,649  
Depreciation and amortization 89 89  
EBIT (87) (33)  
Total assets 17,370   $ 17,312
Capital expenditures 115 96  
Operating Segments | MDA North America      
Segment Reporting Information [Line Items]      
Net sales 2,428 2,641  
Depreciation and amortization 48 49  
EBIT 135 266  
Total assets 10,447   10,217
Capital expenditures 42 45  
Operating Segments | MDA Latin America      
Segment Reporting Information [Line Items]      
Net sales 837 747  
Depreciation and amortization 18 17  
EBIT 65 36  
Total assets 3,957   4,037
Capital expenditures 40 15  
Operating Segments | MDA Asia      
Segment Reporting Information [Line Items]      
Net sales 239 245  
Depreciation and amortization 6 5  
EBIT 11 8  
Total assets 1,149   1,054
Capital expenditures 3 2  
Operating Segments | MDA Europe      
Segment Reporting Information [Line Items]      
Net sales 804 846  
Depreciation and amortization 0 0  
EBIT (9) (5)  
Total assets 0   685
Capital expenditures 22 19  
Operating Segments | SDA Global      
Segment Reporting Information [Line Items]      
Net sales 182 170  
Depreciation and amortization 3 3  
EBIT 33 19  
Total assets 1,404   1,134
Capital expenditures 2 3  
Other / Eliminations      
Segment Reporting Information [Line Items]      
Net sales 0 0  
Depreciation and amortization 14 15  
EBIT (322) (357)  
Total assets 413   $ 185
Capital expenditures 6 12  
Intersegment sales      
Segment Reporting Information [Line Items]      
Net sales (379) (469)  
Intersegment sales | MDA North America      
Segment Reporting Information [Line Items]      
Net sales 33 58  
Intersegment sales | MDA Latin America      
Segment Reporting Information [Line Items]      
Net sales 303 378  
Intersegment sales | MDA Asia      
Segment Reporting Information [Line Items]      
Net sales 10 10  
Intersegment sales | MDA Europe      
Segment Reporting Information [Line Items]      
Net sales 23 23  
Intersegment sales | SDA Global      
Segment Reporting Information [Line Items]      
Net sales $ 10 $ 0  
v3.24.1.u1
SEGMENT INFORMATION - Narrative (Details) - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Held-for-sale | European Major Domestic Appliance Business    
Segment Reporting Information [Line Items]    
Assets held for sale $ 3,517 $ 3,345
v3.24.1.u1
SEGMENT INFORMATION - Schedule of Reconciling Items in Other/Eliminations (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Segment Reporting Information [Line Items]    
Restructuring charges $ (23) $ 0
(Loss) gain on sale and disposal of businesses (247) (222)
Total other/eliminations (87) (33)
Other / Eliminations    
Segment Reporting Information [Line Items]    
Restructuring charges (23) 0
Legacy MDA Europe legal matters 0 (62)
(Loss) gain on sale and disposal of businesses (247) (222)
Corporate expenses and other (52) (73)
Total other/eliminations $ (322) $ (357)
v3.24.1.u1
SEGMENT INFORMATION - Schedule of Reconciling Information For Total EBIT (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Segment Reporting [Abstract]    
Operating (loss) profit $ (116) $ 43
Interest and sundry (income) expense (29) 77
Equity method investment income (loss), net of tax 0 1
Total other/eliminations (87) (33)
Interest expense 90 75
Income tax expense 76 68
Net earnings (loss) (253) (176)
Less: Net earnings (loss) available to noncontrolling interests 6 3
Net earnings (loss) available to Whirlpool $ (259) $ (179)
v3.24.1.u1
ACQUISITIONS AND DIVESTITURES - European Major Domestic Appliance Business Held for Sale Narrative (Details)
$ in Millions
 3 Months Ended 9 Months Ended
Mar. 31, 2024
USD ($)
Mar. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Apr. 02, 2024
USD ($)
Jan. 16, 2023
site
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]          
Loss on disposition of business $ 247 $ 222      
Held-for-sale | European Major Domestic Appliance Business          
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]          
Number of production sites | site         9
Loss on disposition of business $ 247 $ 222 $ 1,500    
Loss on write-down of assets     1,200    
Fair value of consideration     139    
Cumulative foreign currency translation adjustments     393    
Release of other comprehensive loss on pension     98    
Other transaction related costs     $ 18    
Disposed of by Sale | European Major Domestic Appliance Business | Subsequent Event          
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]          
Loss on disposition of business       $ 1,900  
Newly Formed European Appliance Company | Arcelik B.V.          
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]          
Ownership percentage         75.00%
Newly Formed European Appliance Company          
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]          
Equity interest percentage         25.00%
v3.24.1.u1
ACQUISITIONS AND DIVESTITURES - Schedule of European Major Domestic Appliance Business Held for Sale Assets and Liabilities (Details) - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Carrying amounts of major classes of assets    
Total current assets $ 227 $ 144
Noncurrent liabilities    
Total liabilities 577 587
Held-for-sale | European Major Domestic Appliance Business    
Carrying amounts of major classes of assets    
Cash and cash equivalents 245 97
Accounts receivable, net of allowance of $28 and $28, respectively 646 578
Allowance for doubtful accounts 28 28
Inventories 555 589
Prepaid and other current assets 101 94
Total current assets 1,547 1,358
Noncurrent assets    
Property, net of accumulated depreciation of $1,370 and $1,442, respectively 952 952
Accumulated depreciation 1,370 1,442
Right of use assets 151 162
Other intangibles, net of accumulated amortization of $146 and $149, respectively 280 286
Accumulated amortization 146 149
Deferred income taxes 553 574
Other noncurrent assets 34 13
Total noncurrent assets 1,970 1,987
Total assets 3,517 3,345
Current liabilities    
Accounts payable 1,179 1,266
Accrued expenses 208 218
Accrued advertising and promotions 122 171
Employee compensation 130 120
Notes payable 8 4
Other current liabilities 89 97
Total current liabilities 1,736 1,876
Noncurrent liabilities    
Pension benefits 160 168
Lease liabilities 121 132
Other noncurrent liabilities 122 87
Total noncurrent liabilities 403 387
Total liabilities 2,139 2,263
Total net assets of the disposal group classified as held for sale 1,378 1,082
Fair value of consideration 227 144
Cumulative currency translation adjustment and Other comprehensive income on pension $ 577 $ 587
v3.24.1.u1
ACQUISITIONS AND DIVESTITURES - Schedule of European Major Domestic Appliance Business Held for Sale Earnings (Loss) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Held-for-sale | European Major Domestic Appliance Business    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]    
Earnings (loss) before income taxes $ (9) $ 0
v3.24.1.u1
ACQUISITIONS AND DIVESTITURES - Whirlpool India Share Sale Narrative (Details) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended
Feb. 20, 2024
Mar. 31, 2024
Mar. 31, 2023
Feb. 19, 2024
Nov. 30, 2023
Business Acquisition [Line Items]          
Sale of minority interest in subsidiary   $ 462 $ 0    
Whirlpool India          
Business Acquisition [Line Items]          
Subsidiary, ownership percentage, for sale         24.00%
Sale of minority interest in subsidiary (in shares) 30.4        
Subsidiary, ownership percentage 51.00%     75.00%  
Sale of minority interest in subsidiary $ 462