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.

Whirlpool Corporation is
the #1 major appliance
manufacturer in the world.(a)

Brands: Throughout the world, we win with consumers
through our strong brand portfolio.

At Whirlpool Corporation, we are a global collection of small communities. We utilize our broad scale but rely on individual regions to personalize products to meet our consumers’ needs. Our brands target consumers throughout the world with solutions that celebrate the diverse experiences of home life.

Brands That Innovate

We’re not content to rest on our 106-year legacy of innovation. With 70 global manufacturing, research and technology centers, and a history of consistent R&D funding, our world-class innovation pipeline continues to accelerate. We also refuse to create technology for “technology’s sake.” Instead we are focused on innovation that inspires consumers, and we design and build our products with purpose, creating demand and earning trust every day.

Strong Brands That Are Locally Relevant

Our global locations develop diverse brand portfolios based on differentiated regional consumer needs. To maintain our competitive advantage of the best brand portfolio in the industry while increasing speed to market, we design products globally and manufacture locally to tailor to regional consumer preferences and behaviors. Consumer focus fuels our continued growth, strengthens our brand portfolio, and keeps us relevant in homes throughout the world.

Brands That Connect

Scan-to-Cook Technology allows consumers to scan thousands of frozen food barcodes with a smartphone or tablet and send recommended or customized cooking in structions directly to select Whirlpool wall ovens, ranges and microwaves.(g)

We acquired Yummly in 2017 to strengthen our position as a leader in building a seamlessly integrated connected kitchen and bring purposeful, consumer-relevant innovations to market in the emerging IoT space. Our Yummly app recommends recipes based on ingredients consumers have on hand, streamlining grocery shopping and meal prep with scheduling features, step-by-step recipes and video tutorials. Yummly recipes connect to select Whirlpool wall ovens, ranges and microwaves allowing consumers the ability to set and change temperature, settings and cook time from their devices.(g)

* View Footnotes

Our commitment to
purposeful innovation is
expanding the capabilities
of our smart appliances