2018 Corporate Sustainability Report
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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, 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 2018 and 2017 and full-year tax rates of 6.6% and 14.7%, respectively.

Earnings Per Diluted Share
Twelve Months Ended December 31,

2017

2018

Reported measure

$ 4.70

$ (2.72)

Restructuring expense

3.70

3.68

Out-of-period adjustment

0.27

France antitrust settlement

1.53

Impairment of goodwill and intangibles

11.11

Trade customer insolvency

0.45

Divestiture related transition costs

0.32

Income tax impact

(0.56)

(0.29)

Normalized tax rate adjustment

5.63

1.25

Share adjustment

(0.17)

Ongoing measure

$13.74

$15.16

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 page 32 of the 2018 Form 10-K, or the document titled “GAAP Reconciliations” at: Investors.WhirlpoolCorp.com/financial-information/annual-reports.