$WHR

WHIRLPOOL CORP /DE/

CIK:0000106640|SEC Filings

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Statement of Comprehensive Income [Abstract]
Net sales	$ 3,517	$ 3,773	$ 6,790	$ 7,393
Expenses
Cost of products sold	3,075	3,162	5,933	6,176
Gross margin	442	610	857	1,217
Selling, general and administrative	371	397	730	803
Intangible amortization	6	7	12	13
Restructuring costs	41	2	73	11
Loss (gain) on sale and disposal of businesses	(139)	0	(139)	0
Operating profit	163	204	181	389
Other (income) expense
Interest and sundry (income) expense	5	(4)	(3)	(36)
Interest expense	63	86	140	164
Earnings (loss) before income taxes	96	121	45	260
Income tax expense (benefit)	3	29	17	72
Equity method investment income (loss), net of tax	(5)	(18)	(22)	(35)
Net earnings (loss)	88	75	6	153
Less: Net earnings (loss) available to noncontrolling interests	0	9	0	17
Net earnings (loss) available to Whirlpool shareholders	88	65	6	137
Less: Mandatory convertible preferred stock dividends accumulated during the period	13	0	17	0
Net earnings (loss) available to Whirlpool common shareholders	$ 75	$ 65	$ (11)	$ 137
Per share of common stock
Basic net earnings (loss) available to Whirlpool (in dollars per share)	$ 1.15	$ 1.17	$ (0.17)	$ 2.46
Diluted net earnings (loss) available to Whirlpool (in dollars per share)	1.15	1.17	(0.17)	2.45
Dividends declared (in dollars per share)	$ 0	$ 1.75	$ 0.90	$ 3.50
Weighted-average shares outstanding (in millions)
Basic (in shares)	65.0	55.9	62.3	55.7
Diluted (in shares)	65.2	56.1	62.3	55.9
Comprehensive income (loss)	$ 136	$ (173)	$ 153	$ (206)

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

12 Months Ended

Jun. 30, 2026

Mar. 31, 2026

Jun. 30, 2025

Mar. 31, 2025

Jun. 30, 2026

Jun. 30, 2025

Dec. 31, 2025

Operating activities

Net earnings (loss)

$ 88

$ (82)

$ 75

$ 79

$ 6

$ 153

Adjustments to reconcile net earnings to cash provided by (used in) operating activities:

Depreciation and amortization

185

163

Loss (gain) on sale and disposal of businesses

(139)

Equity method investment (income) loss, net of tax

Share based compensation and other

Changes in assets and liabilities:

Accounts receivable

(17)

(21)

Inventories

108

(527)

Accounts payable

(515)

(134)

Accrued advertising and promotions

(368)

(284)

Accrued expenses and current liabilities

(61)

(29)

Taxes deferred and payable, net

(60)

(16)

Accrued pension and postretirement benefits

(1)

Employee compensation

(37)

(31)

Other

(132)

(96)

Cash provided by (used in) operating activities

(947)

(702)

Investing activities

Capital expenditures

(162)

(154)

Purchase of previously leased assets

(157)

Proceeds from sale of assets and businesses

195

Cash provided by (used in) investing activities

(123)

(154)

Financing activities

Net proceeds from borrowings of long-term debt

1,972

1,200

Net repayments of long-term debt

(1,053)

(1,550)

Net proceeds (repayments) from short-term borrowings

(334)

1,142

Dividends paid

(68)

(194)

Common stock issuance, net of issuance costs

524

Mandatory convertible preferred stock issuance, net of issuance costs

557

Other

(15)

Cash provided by (used in) financing activities

1,610

583

Effect of exchange rate changes on cash and cash equivalents

Increase (decrease) in cash and cash equivalents

570

(207)

Cash and cash equivalents at beginning of year

$ 669

$ 1,275

669

1,275

$ 1,275

Cash and cash equivalents at end of period

$ 1,239

^[1]

$ 1,068

^[1]

$ 1,239

^[1]

$ 1,068

^[1]

$ 669

[1]	Cash and cash equivalents at the end of period include $212 million which was restricted to execute a debt payment which occurred on July 1, 2026.

CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 1,239	$ 669
Accounts receivable, net of allowance of $59 and $56, respectively	1,237	1,276
Inventories	2,219	2,307
Prepaid and other current assets	1,012	654
Assets held for sale	49	17
Total current assets	5,756	4,924
Property, net of accumulated depreciation of $5,675 and $5,547, respectively	2,230	2,194
Right of use assets	1,085	796
Goodwill	3,103	3,103
Investment in affiliated companies	836	827
Other intangibles, net of accumulated amortization of $475 and $464, respectively	2,552	2,563
Deferred income taxes	1,349	1,327
Other noncurrent assets	416	266
Total assets	17,326	16,001
Current liabilities
Accounts payable	3,250	3,704
Accrued expenses	387	448
Accrued advertising and promotions	391	755
Employee compensation	177	208
Notes payable	16	351
Current maturities of long-term debt	212	586
Other current liabilities	577	460
Total current liabilities	5,009	6,513
Noncurrent liabilities
Long-term debt	6,840	5,583
Pension benefits	90	64
Postretirement benefits	92	92
Lease liabilities	989	669
Other noncurrent liabilities	382	365
Total noncurrent liabilities	8,393	6,773
Stockholders' equity
Mandatory convertible preferred stock, 8.50% Series A, $1 par value, 10 million shares authorized; 575 thousand issued and outstanding as of June 30, 2026; none issued and outstanding as of December 31, 2025; aggregate liquidation preference $575	1	0
Common stock, $1 par value, 250 million shares authorized, 73 million and 65 million shares issued, respectively, and 65 million and 56 million shares outstanding, respectively	73	65
Additional paid-in capital	4,566	3,485
Retained earnings	1,262	1,330
Accumulated other comprehensive loss	(1,476)	(1,624)
Treasury stock, 8 million and 9 million shares, respectively	(492)	(530)
Total Whirlpool stockholders' equity	3,933	2,726
Noncontrolling interests	(11)	(11)
Total stockholders' equity	3,923	2,715
Total liabilities and stockholders' equity	$ 17,326	$ 16,001