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Whirlpool Corp (WHR) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

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Whirlpool Corp

CIK: 106640 Ticker: WHR

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Whirlpool Delivers Record Performance in 2021 and Guides Towards Another Strong 2022
Full-year net sales growth of 13%, driven by strong consumer demand and cost-based pricing actions
Record full-year GAAP net earnings margin of 8.1% (up 260 basis points) and record ongoing (non-GAAP) EBIT margin(2) of 10.8% (up 180 basis points), fully offsetting $1 billion in raw material inflation
Record full-year GAAP and ongoing (non-GAAP) earnings per diluted share(1) of $28.36 and $26.59, respectively, exceeding guidance
Q4 results impacted by rising inflation, but in line with expectations: Revenues unchanged versus 2020, but 8% up versus 2019; GAAP net earnings margin of 5.1% and ongoing (non-GAAP) EBIT margin(2) of 8.6%
Significant cash generation for full-year 2021; cash provided by operating activities of $2.2 billion and adjusted free cash flow(4) of $2.0 billion, driven by strong earnings and working capital improvements
Returned $1.4 billion in cash to shareholders in 2021, including $1.0 billion of share repurchases
2022 outlook includes earnings per diluted share of $27.00 to $29.00 on a GAAP and ongoing basis; significant cash provided by operating activities of $2.2 billion and free cash flow(4) of $1.5 billion
BENTON HARBOR, Mich., January 26, 2022 - Whirlpool Corporation (NYSE: WHR), committed to being the best global kitchen and laundry company, in constant pursuit of improving life at home, today reported fourth quarter and full-year 2021 financial results.

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We delivered record results for the fourth consecutive year, demonstrating our ability to execute in any challenging environment,” said Marc Bitzer, chairman and chief executive officer of Whirlpool Corporation. “We expect another year of record performance, while increasing organic growth investments and returning another approximately $1.5 billion in cash to shareholders."
MARC BITZER







1

The following information was filed by Whirlpool Corp (WHR) on Wednesday, January 26, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Whirlpool Corp's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Stockholders' Equity
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Income (Loss)
Cash, Cash Equivalents And Restricted Cash
Cash, Cash Equivalents And Restricted Cash (Details)
Cash, Cash Equivalents And Restricted Cash (Tables)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Narrative (Details)
Commitments And Contingencies - Schedule Of Product Warranty And Recall Reserves (Details)
Commitments And Contingencies - Schedule Of Purchase Obligations (Details)
Divestitures
Divestitures (Tables)
Divestitures - Narrative (Details)
Divestitures - Schedule Of Embraco's Earnings Before Income Taxes (Details)
Divestitures - Schedule Of Whirlpool China's Assets And Liabilities (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Narrative (Details)
Fair Value Measurements - Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis (Details)
Fair Value Measurements - Schedule Of Level 3 Assets Measured At Fair Value On A Nonrecurring Basis (Details)
Financing Arrangements
Financing Arrangements (Tables)
Financing Arrangements - Narrative (Details)
Financing Arrangements - Schedule Of Contractual Maturities Of Debt Including Current Maturities (Details)
Financing Arrangements - Schedule Of Debt (Details)
Financing Arrangements - Schedule Of Notes Payable (Details)
Goodwill And Other Intangibles
Goodwill And Other Intangibles (Tables)
Goodwill And Other Intangibles - Narrative (Details)
Goodwill And Other Intangibles - Schedule Of Estimated Amortization Expense (Details)
Goodwill And Other Intangibles - Schedule Of Goodwill By Segment (Details)
Goodwill And Other Intangibles - Schedule Of Other Intangible Assets (Details)
Hedges And Derivative Financial Instruments
Hedges And Derivative Financial Instruments (Tables)
Hedges And Derivative Financial Instruments - Narrative (Details)
Hedges And Derivative Financial Instruments - Schedule Of Effects Of Derivative Instruments On Consolidated Statements Of Income (Details)
Hedges And Derivative Financial Instruments - Schedule Of Net Investment Hedging (Details)
Hedges And Derivative Financial Instruments - Schedule Of Outstanding Derivative Contracts (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Narrative (Details)
Income Taxes - Schedule Of Deferred Tax Assets And Liabilities (Details)
Income Taxes - Schedule Of Income Tax (Benefit) Provision (Details)
Income Taxes - Schedule Of Reconciliations Between Tax Expense And Consolidated Effective Income Tax Rate For Earnings Before Income Taxes And Other Items (Details)
Income Taxes - Schedule Of Unrecognized Tax Benefits (Details)
Inventories
Inventories (Details)
Inventories (Tables)
Leases
Leases (Tables)
Leases - Narrative (Details)
Leases - Schedule Of Maturities Of Lease Liabilities (Details)
Pension And Other Postretirement Benefit Plans
Pension And Other Postretirement Benefit Plans (Tables)
Pension And Other Postretirement Benefit Plans - Narrative (Details)
Pension And Other Postretirement Benefit Plans - Schedule Of Accumulated Benefit Obligation In Excess Of Plan Assets (Details)
Pension And Other Postretirement Benefit Plans - Schedule Of Changes In Benefit Obligation (Details)
Pension And Other Postretirement Benefit Plans - Schedule Of Changes In Plan Assets (Details)
Pension And Other Postretirement Benefit Plans - Schedule Of Components Of Net Periodic Benefit Cost (Details)
Pension And Other Postretirement Benefit Plans - Schedule Of Effects Of Significant Unobservable Inputs (Details)
Pension And Other Postretirement Benefit Plans - Schedule Of Expected Benefit Payments (Details)
Pension And Other Postretirement Benefit Plans - Schedule Of Expected Employer Contributions To Funded Plans (Details)
Pension And Other Postretirement Benefit Plans - Schedule Of Fair Value Of Plan Assets By Category (Details)
Pension And Other Postretirement Benefit Plans - Schedule Of Obligations And Funded Status At End Of Year (Details)
Pension And Other Postretirement Benefit Plans - Schedule Of Other Changes In Plan Assets And Benefit Obligations Recognized In Oci (Details)
Pension And Other Postretirement Benefit Plans - Schedule Of Pbo And Fair Value Of Plan Assets (Details)
Pension And Other Postretirement Benefit Plans - Schedule Of Weighted-Average Assumptions Used To Determine Benefit Obligation And Net Periodic Cost (Details)
Restructuring Charges
Restructuring Charges (Tables)
Restructuring Charges - Narrative (Details)
Restructuring Charges - Schedule Of Changes To Restructuring Liability (Details)
Restructuring Charges - Schedule Of Charges By Segment (Details)
Restructuring Charges - Schedule Of Restructuring Actions (Details)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - Schedule Of Allowance For Doubtful Accounts By Operating Segment (Details)
Revenue Recognition - Schedule Of Disaggregation Of Revenue (Details)
Schedule Ii - Valuation And Qualifying Accounts
Schedule Ii - Valuation And Qualifying Accounts (Details)
Segment Information
Segment Information (Tables)
Segment Information - Narrative (Details)
Segment Information - Schedule Of Long-Lived Assets By Geographical Area (Details)
Segment Information - Schedule Of Operating Segment Information (Details)
Share-Based Incentive Plans
Share-Based Incentive Plans (Tables)
Share-Based Incentive Plans - Narrative (Details)
Share-Based Incentive Plans - Schedule Of Stock Option Activity (Details)
Share-Based Incentive Plans - Schedule Of Stock Options Outstanding, Additional Info (Details)
Share-Based Incentive Plans - Schedule Of Stock Units (Details)
Share-Based Incentive Plans - Schedule Of Weighted Average Assumptions (Details)
Significant Accounting Policies
Significant Accounting Policies (Policies)
Significant Accounting Policies (Tables)
Significant Accounting Policies - Narrative (Details)
Significant Accounting Policies - Schedule Of Property (Details)
Stockholders' Equity
Stockholders' Equity (Tables)
Stockholders' Equity - Narrative (Details)
Stockholders' Equity - Schedule Of Net Earnings Per Share (Details)
Stockholders' Equity - Schedule Of Other Comprehensive Income (Details)
Ticker: WHR
CIK: 106640
Form Type: 10-K Annual Report
Accession Number: 0000106640-22-000015
Submitted to the SEC: Thu Feb 10 2022 10:26:44 AM EST
Accepted by the SEC: Thu Feb 10 2022
Period: Friday, December 31, 2021
Industry: Household Appliances

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