Ongoing Earnings Per Diluted Share
The reconciliation provided below reconciles the non-GAAP financial measure of ongoing earnings per diluted share with the most directly comparable GAAP financial measure, net earnings per diluted share available to Whirlpool, for the twelve months ended December 31, 2017, 2016 and 2015. The earnings per diluted share GAAP measure and ongoing business measure are presented net of tax, while each adjustment is presented on a pre-tax basis. The aggregate income tax impact of the taxable components of each adjustment is presented in the income tax impact line item at our 2017, 2016 and 2015 full-year tax rates of 14.7%, 16.6% and 20.3%, respectively. For more information, see document titled “GAAP Reconciliations” at Investors.WhirlpoolCorp.com/financial-information/annual-reports.
| Earnings Per Diluted Share Twelve Months Ended December 31, |
||||
| 2017 | 2016 | 2015 | ||
|---|---|---|---|---|
| Reported GAAP Measure | 4.70 | 11.50 | 9.83 | |
| Restructuring Expense | 3.70 | 2.24 | 2.52 | |
| Out of Period Adjustment | 0.27 | — | — | |
| Acquisition Related Transition Costs | — | 1.11 | 0.80 | |
| Antitrust and Dispute Resolutions | — | — | 0.44 | |
| Gain/Expenses Related to a Business Investment | — | — | (0.58) | |
| Pension Settlement Charges | — | — | 0.19 | |
| Benefit Plan Curtailment Gain | — | — | (0.78) | |
| Legacy Product Warranty and Liability Expense | — | (0.30) | 0.53 | |
| Income Tax Impact | (0.56) | (0.49) | (0.57) | |
| Normalized Tax Rate Adjustment | 5.63 | — | — | |
| Ongoing Business Measure | 13.74 | 14.06 | 12.38 | |
Performance Graph
The graph below compares the yearly dollar change in the cumulative total stockholder return on our common stock against the cumulative total return of Standard & Poor’s [S&P] Composite 500 Stock Index and the cumulative total return of the S&P 500 Household Durables Index for the last five fiscal years.** The graph assumes $100 was invested on December 31, 2012, in Whirlpool Corporation common stock, the S&P 500 and the S&P Household Durables Index.
**Cumulative total return is measured by dividing [1] the sum of [a] the cumulative amount of the dividends for the measurement period, assuming dividend reinvestment, and [b] the difference between share price at the end and at the beginning of the measurement period by [2] the share price at the beginning of the measurement period
Total Return to Shareholders
(Includes reinvestment of dividends)
| Annual Return Percentage Years Ending |
||||||
|---|---|---|---|---|---|---|
| Company/Index | Dec. '13 | Dec. '14 | Dec. '15 | Dec. '16 | Dec. '17 | |
| Whirlpool Corporation | 57.00% | 25.81% | -22.71% | 26.71% | -4.89% | |
| S&P 500 Index | 32.39 | 13.69 | 1.38 | 11.96 | 21.82 | |
| S&P 500 Household Durables | 31.08 | 18.54 | 0.12 | 7.42 | 18.65 | |
| Base Period | Indexed Returns Years Ending |
||||||
|---|---|---|---|---|---|---|---|
| Company/Index | Dec. '12 | Dec. '13 | Dec. '14 | Dec. '15 | Dec. '16 | Dec. '17 | |
| Whirlpool Corporation | $100 | $157.00 | $197.52 | $152.66 | $193.44 | $183.98 | |
| S&P 500 Index | 100 | 132.39 | 150.51 | 152.59 | 170.84 | 208.12 | |
| S&P 500 Household Durables | 100 | 131.08 | 155.38 | 155.57 | 167.11 | 198.28 | |
