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

Footnotes

  • (a) Based on most recently available publicly reported annual revenues.
  • (b) Based on AHAM, Traqline and Internal Research for the full-year 2016.
  • (c) Amazon, Boys and Girls Clubs of America, Google, Habitat for Humanity International, Honeywell, IBM, Instituto Consulado da Mulher, International Red Cross, United Way and certain other trademarks are owned by their respective companies.
  • (d) Click here for reconciliation
  • (e) Click here to see 10-K for reconciliation
  • (f) Bauknecht, Brastemp, Consul, Design of the stand mixer, Hotpoint*, Indesit, KitchenAid, Maytag, Whirlpool, and Yummly are trademarks of Whirlpool Corporation of its wholly or majority-owned affiliates.
  • *   Whirlpool Corporation ownership of the Hotpoint brand in EMEA and Asia Pacific regions is not affiliated with the Hotpoint brand sold in the Americas.
  • (g) Appliance must be set to remote enable. WiFi & App required. Features subject to change. For details and privacy statement, visit whirlpool.com/connect.

Stockholder and Other Information

Whirlpool Corporation’s Annual Report on Form 10-K, and other financial information, is available free of charge to stockholders.

The Financial Summary contained in this Annual Report should be read together with Whirlpool Corporation’s Financial Statements and related notes, and “Management’s Discussion and Analysis.” This information appears in the company’s 2017 Annual Report on Form 10-K filed with the Securities and Exchange Commission, which is available on the company’s website at Investors.WhirlpoolCorp.com.

The Annual Report on Form 10-K and company earnings releases for each quarter – typically issued in April, July, October and February – can be obtained by contacting:

Max Tunnicliff
Senior Director, Investor Relations
Whirlpool Corporation
2000 N. M-63, Mail Drop 2609
Benton Harbor, MI 49022-2692
Telephone: 269-923-2641
Fax: 269-923-3525
Email: investor_relations@whirlpool.com

Stock Exchanges

Common stock of Whirlpool Corporation (exchange symbol: WHR) is listed on the New York and Chicago stock exchanges.

Trademarks

Bauknecht, Brastemp, Consul, Design of the stand mixer, Hotpoint,* Indesit, KitchenAid, Maytag, Whirlpool, and Yummly are trademarks of Whirlpool Corporation or its wholly or majority-owned affiliates.

Footnotes

Click here to view footnotes

Board of Directors

  • Samuel R. Allen† (3,4)

    Chairman and Chief Executive Officer, Deere & Company

  • Marc R. Bitzer

    President and Chief Executive Officer, Whirlpool Corporation

  • Greg Creed(2,4)

    Chief Executive Officer, Yum! Brands, Inc.

  • Gary T. DiCamillo(1,2)

    President and Chief Executive Officer, Universal Trailer Corporation

  • Diane M. Dietz(3,4)

    President and Chief Executive Officer, Rodan & Fields, LLC

  • Gerri T. Elliott(1,2)

    Former Executive Vice President & Strategic Advisor, Juniper Networks, Inc.

  • Jeff M. Fettig

    Chairman of the Board and Former Chief Executive Officer, Whirlpool Corporation

  • Michael F. Johnston(1,4)

    Former Chairman of the Board and Chief Executive Officer, Visteon Corporation

  • James M. Loree(1,3)

    President and Chief Executive Officer, Stanley Black & Decker, Inc.

  • John D. Liu(1,2)

    Managing Partner, Richmond Hill Investments, and Chief Executive Officer, Essex Equity Management

  • Harish Manwani(3,4)

    Global Executive Advisor, Blackstone Private Equity

  • WIlliam D. Perez(2,4)

    Former President and Chief Executive Officer, WM. Wrigley Jr. Company

  • Larry O. Spencer(2,3)

    President, Air Force Association

  • Michael D. White(1,3)

    Former Chairman, President and Chief Executive Officer, DIRECTV
    • (1) Audit Committee
    • (2) Finance Committee
    • (3) Corporate Governance and Nominating Committee
    • (4) Human Resources Committee
    • † Presiding Director

Executive Committee

  • Marc R. Bitzer

    President and Chief Executive Officer

  • Esther Berrozpe Galindo

    Executive Vice President and President, Whirlpool Europe, Middle East and Africa

  • David A. Binkley

    Senior Vice President, Global Human Resources

  • João C. Brega

    Executive Vice President and President, Whirlpool Latin America

  • Kirsten J. Hewitt

    Senior Vice President, Corporate Affairs and General Counsel

  • Joseph T. Liotine

    Executive Vice President and President, Whirlpool North America

  • James W. Peters

    Executive Vice President and Chief Financial Officer

  • Shengpo (Samuel) Wu

    President, Whirlpool Asia