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, 2019, 2018 and 2017. 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 2019, 2018 and 2017 full-year tax rates of 15.3%, 6.6% and 14.7%, respectively.
Twelve Months Ended December 31, |
2017 |
2018 |
2019 |
|---|---|---|---|
Reported Measure |
2017: $ 4.70 |
2018: $ (2.72) |
2019: $18.45 |
Restructuring expense |
2017: 3.70 |
2018: 3.68 |
2019: 2.93 |
Out-of-period adjustment |
2017: 0.27 |
2018: – |
2019: – |
France antitrust settlement |
2017: – |
2018: 1.53 |
2019: – |
Impairment of goodwill and intangibles |
2017: – |
2018: 11.11 |
2019: – |
Trade customer insolvency |
2017: – |
2018: 0.45 |
2019: – |
Divestiture related transition costs |
2017: – |
2018: 0.32 |
2019: – |
Brazil indirect tax credit |
2017: – |
2018: – |
2019: (2.80) |
(Gain) loss on sale and disposal of businesses |
2017: – |
2018: – |
2019: (6.79) |
Product warranty and liability expense |
2017: – |
2018: – |
2019: 2.04 |
Sale leaseback, real estate and receivable adjustments |
2017: – |
2018: – |
2019: (1.34) |
Trade customer insolvency claim settlement |
2017: – |
2018: – |
2019: 0.92 |
Income tax impact |
2017: (0.56) |
2018: (0.29) |
2019: 0.75 |
Normalized tax rate adjustment |
2017: 5.63 |
2018: 1.25 |
2019: 1.84 |
Share adjustment |
2017: – |
2018: (0.17) |
2019: – |
Ongoing measure |
2017: $13.74 |
2018: $15.16 |
2019: $16.00 |
For more information on the adjustments and additional reconciliations of non-GAAP measures, such as free cash flow and ongoing earnings before interest and taxes (EBIT), to the most directly comparable GAAP financial measure, see pages 34-35 of the 2019 Form 10-K included with this annual report, or the document titled “GAAP Reconciliations” at Investors.WhirlpoolCorp.com/financial-information/annual-reports. Please see page 128 of this annual report for a reconciliation of the non-GAAP measure Return on Invested Capital to the most directly comparable GAAP financial measure.
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, 2014, in Whirlpool Corporation common stock, the S&P 500 and the S&P 500 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)
Company/Index |
2015 |
2016 |
2017 |
2018 |
2019 |
|---|---|---|---|---|---|
Company/Index Whirlpool Corporation |
2015: -22.70% |
2016: 26.69% |
2017: -4.89% |
2018: -34.50% |
2019: 42.83% |
Company/Index S&P 500 Index |
2015: 1.38 |
2016: 11.96 |
2017: 21.83 |
2018: -4.38 |
2019: 31.49 |
Company/Index S&P 500 Household Durables |
2015: 0.12 |
2016: 7.42 |
2017: 18.65 |
2018: -34.18 |
2019: 40.94 |
Company/Index |
Base Period 2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
|---|---|---|---|---|---|---|
Company/Index Whirlpool Corporation |
2014: $100 |
2015: $ 77.30 |
2016: $ 97.93 |
2017: $ 93.15 |
2018: $ 61.01 |
2019: $ 87.15 |
Company/Index S&P 500 Index |
2014: 100 |
2015: 101.38 |
2016: 113.51 |
2017: 138.29 |
2018: 132.23 |
2019: 173.86 |
Company/Index S&P 500 Household Durables |
2014: 100 |
2015: 100.12 |
2016: 107.54 |
2017: 127.60 |
2018: 83.99 |
2019: 118.37 |
Comparison of cumulative five-year total return
