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.
callout6

Opportunity: Everywhere we operate, we’re focused on
opportunities to drive excellence and grow value.

Global operating excellence is the backbone of our best-cost platform. We are relentlessly focused on cost-takeout while also creating a culture of continuous improvement for processes and tools to drive increased productivity. This focus keeps us well-positioned to manage market volatility and to continue our history of creating value in any environment.

Our values are the driving
force behind everything
we do. Respect. Integrity.
Diversity and Inclusion.
Teamwork. Spirit of Winning.

Engage and Develop Our Global Workforce

We’ve become industry leaders by attracting, engaging and developing top talent. For the fourth consecutive year, we scored best-in-class on employee engagement among consumer goods companies. Original ideas and innovative thinking come from combining the best of everyone’s differences. Celebrating diversity and including thousands of perspectives empowers us to create products that appeal to diverse consumers throughout the world. We are passionate about creating a safe, healthy and engaged workplace.

We care about the
communities where we
live and work

Opportunity: Strengthen Communities, Empower People

Knowing great communities are the foundation of great business, we maintain strong connections to the communities where we operate. We encourage employees to volunteer and provide them with opportunities to make a difference within their neighborhoods. We are proud to support organizations such as Habitat for Humanity International®, United Way®, Instituto Consulado da Mulher® and the International Red Cross®.(c)

The Jeff Fettig Global Habitat Build Project

Having successfully collaborated with Habitat for Humanity International® for nearly 18 years, we had a unique opportunity to honor Jeff Fettig, who stepped down as CEO in 2017. We created a global build project with Habitat which included 14 locations from India and China to Brazil and Colombia.

Habitat for Humanity and Whirlpool Corporation employees continued the tradition of helping families achieve their dream of owning a home. Two hundred seventeen employees, including executives, lent a helping hand. For Jeff Fettig, this became the ultimate recognition of his years of service and commitment to making a difference in our communities.

New Consul Washer
Maxi Economia: saves
40% of water and soap
and 100% of the water
can be reused

Opportunity : Reduce Environmental Impacts

As the world’s largest manufacturer of major home appliances,(a) we have an unwavering commitment to care for our employees, customers, communities and the planet. Reducing the amount of water and energy our products use, driving zero waste to landfill, and using solar and wind energy to power our facilities are all part of our effort to reduce our impact and address climate change while making lives and homes better.

* View Footnotes