Whirlpool

2024 Annual Report

WHIRLPOOL CORPORATION 
AT-A-GLANCE
SALES BY 
CATEGORY
31%
REFRIGERATION
27%
LAUNDRY 
APPLIANCES
24% 
COOKING 
APPLIANCES
18% 
DISHWASHING 
AND OTHER
SALES BY 
SEGMENT
62% 
MAJOR DOMESTIC 
APPLIANCES 
NORTH AMERICA
21% 
MAJOR DOMESTIC 
APPLIANCES 
LATIN AMERICA
6% 
SMALL DOMESTIC 
APPLIANCES 
GLOBAL
6% 
MAJOR DOMESTIC 
APPLIANCES 
ASIA
5% 
MAJOR DOMESTIC 
APPLIANCES 
EUROPE 
(divested April 2024)
$16.6B
Annual Sales
40
Manufacturing and 
Technology Centers
44,000
Employees

Over 110 
Years of 
Improving 
Life at Home
Whirlpool Corporation (NYSE: WHR) is a leading home appliance 
company, in constant pursuit of improving life at home. As the 
last-remaining major U.S.-based manufacturer of kitchen and 
laundry appliances, the company is driving meaningful innovation 
to meet the evolving needs of consumers through its iconic brand 
portfolio, including Whirlpool, KitchenAid, JennAir, Maytag, Amana, 
Brastemp, Consul and InSinkErator. In 2024, the company reported 
approximately $17 billion in annual sales — close to 90% of which 
were in the Americas — 44,000 employees and 40 manufacturing 
and technology research centers. Additional information about the 
company can be found at WhirlpoolCorp.com.
OUR 
VISION
Be the best kitchen 
and laundry company, 
in constant pursuit of 
improving life at home.
OUR 
MISSION
Earn trust and create 
demand for our brands in 
a digital world.
OUR 
VALUES
Integrity, Respect, Inclusion 
and Diversity, One Whirlpool, 
Spirit of Winning.
Whirlpool Corporation 2024 Annual Report  | 1 | 

MARC BITZER
Chairman of the Board and  
Chief Executive Officer
A LETTER TO SHAREHOLDERS
It is my pleasure to provide our 2024 Annual Report to 
you. I want to use this opportunity to extend our sincere 
appreciation and thanks for your ongoing support and 
trust in our company.”

On the following pages, you will see updates 
on our portfolio transformation, the progress 
on our strategic imperatives and a review of 
our financial performance. In summary, you 
will see progress in all three areas, while at 
the same time, we will continue to pursue 
opportunities that will improve our execution 
of these initiatives. 
Portfolio Transformation
In last year’s letter, I described our portfolio transformation 
as a multi-year process with the objective to reduce our 
exposure in low-margin businesses and instead strengthen 
our footprint in higher-margin businesses with a regional 
focus on the Americas. 2024 marked a major milestone in 
this process with the divestiture of our European major 
appliance business. While Europe is a significant region for 
major appliances, it has not been a source of value creation 
for us over the past three decades, despite repeated efforts 
to restructure the business. The divestiture of our business 
into a newly formed company, Beko Europe B.V., in which 
we hold a 25% equity stake, reduces our exposure and 
allows us to participate in the upside of Beko and create 
value through ongoing brand royalties.
While a portfolio transformation is never really complete, we 
now have an exceptionally strong set of business units, all of 
which have a very strong position in their respective regions:
•	 MDA North America — the #1 company in North America, 
which has a lot of future (housing-related) upside
•	 MDA Latin America — the #1 company and leading 
brand portfolio in Latin America, which will benefit from 
further penetration growth 
•	 MDA Asia — the #3 position in India, which is the fastest 
growing country for appliance sales in the world
•	 SDA Global — the #1 mixer brand in the world
Our portfolio transformation brought a stronger regional focus 
on the Americas, which now account for close to 90% of our 
revenue, and offer strong growth opportunities going forward.
MDA = Major Domestic Appliances; SDA = Small Domestic Appliances
~$400M
returned to shareholders in the 
form of dividends
Whirlpool Corporation 2024 Annual Report  | 3 | 

A LETTER TO SHAREHOLDERS
Strategic Imperatives
Similar to last year, the progress with our strategic 
imperatives has continued and even accelerated, 
yet we are far from having completed the strategic 
transformation journey.  
•	 Our recently launched strategic imperative, Inspire 
Generations with Our Brands, showed several 
promising approaches to get even more leverage 
from our incredibly strong portfolio of brands. 
•	 Our product leadership score, as part of the Win 
with Product Leadership imperative, showed 
another year of improvement. We refocused on 
our premium products, faster time to market and 
structural product cost reductions. 
•	 Our new capabilities created through our Grow 
Our Consumer Direct imperative enabled a solid 
10% year-over-year direct-to-consumer sales 
growth, with particularly strong progress in our 
Small Domestic Appliance Global business. 
•	 Finally, our Build a Competitive and Resilient Supply 
Chain imperative supported our goal of achieving 
approximately $300 million in cost take out.
Financial Performance and 
Capital Allocation
Overall, our 2024 financial performance was solid: 
three of our four business units achieved record (or 
near-record) results, and we demonstrated sequential 
margin improvement since the first quarter. Despite 
what continues to be a challenging macro environment, 
we ultimately delivered $887 million ongoing EBIT(a) 
(5.3% of sales) and nearly $400 million of free cash 
flow(a). However, we did not meet our own expectations 
and external commitments. This was largely driven by 
our MDA North America business where the full-year 
EBIT margin was 6.5%. The sluggish housing market, 
with a 30-year low of existing home sales, has largely 
contributed to these results. But we know we can do 
better — even in such a soft industry environment. 
Our capital allocation demonstrated a clear priority on 
dividend pay-out and debt reduction. While we had 
a small amount of share buybacks ($50 million), we 
returned approximately $400 million to shareholders 
in the form of dividends and paid down $500 million of 
long-term debt.
Looking to 2025, we continue to remain bullish on 
the growth prospects in our Latin America and Asia 
business, as well as our SDA business. We are also very 
optimistic about the mid- and long-term prospects of 
the U.S. housing market. The structural undersupply of 
the housing market, which is estimated to be around 
3 to 4 million units, is expected to ultimately translate 
into a multi-year housing boom — and there is simply no 
home appliance company better positioned to benefit 
from this eventual recovery. At the same time, we are 
cautious about the pace of this recovery. It may take 
multiple interest rate reductions and mortgage rate 
stability to “unlock” this market. Absent this, we remain 
focused on the levers that are in our control, namely cost 
discipline and further progress in our price/mix realization. 
Lastly, I want to thank all of our 44,000 employees 
around the world for relentlessly working to improve life 
at home for our millions of loyal consumers.
Sincerely,
Marc Bitzer
Chairman of the Board and Chief Executive Officer
| 4 |  Whirlpool Corporation 2024 Annual Report

UNIQUE STRUCTURAL POSITION
We deliver value through innovative, high-quality products and services. We remain 
committed to our fundamental pillars — maintain our regional leading scale, have the best 
brand portfolio, accelerate our pace of innovation and hold a strong cost position in the 
home appliance industry.
REGIONAL LEADING SCALE
#1
mixer brand in the world1 (SDA Global)
#1
share position in North America and Latin America
#3
share position in India
STRONG COST POSITION
~$300M
cost take out delivered in 2024
~$800M
net cost take out2 in last five years
BEST BRAND AND PRODUCT 
PORTFOLIO
5
brands with ~$1B net sales
100+
global new product launches in 2024
LONGEVITY
110+
years of improving life at home
14th 
consecutive year
World’s Most Admired Companies 
Fortune
STRATEGIC IMPERATIVES
Inspire
Generations With 
Our Brands 
Win
With Product 
Leadership
Grow
Our Consumer 
Direct Business
Build
A Competitive and 
Resilient Supply Chain
1 Source: Euromonitor International Limited; based on custom research conducted November 2024 for value sales (in US$) in 2024 through all retail channels.
2 Excludes RMI.
Whirlpool Corporation 2024 Annual Report  | 5 | 

Major Domestic Appliances
NORTH AMERICA
In the U.S. we continued to face a challenging 
macroeconomic environment with weak discretionary 
demand. We executed on our operational priorities 
with strong cost take out and promotional pricing 
actions. With our strong brand portfolio, innovative 
product launches and leading business with U.S. 
homebuilders, we are well-positioned to benefit from a 
future housing recovery.
Alessandro Perucchetti
Executive Vice President and President, 
Whirlpool North America
Major Domestic Appliances
LATIN AMERICA
We delivered solid net sales growth of 4% through 
strong share gains in Brazil alongside industry 
strength in Brazil and Mexico, despite unfavorable 
currency impacts. Incremental volumes, pricing and 
cost actions delivered strong EBIT margin expansion 
of 140 basis points. We continue to invest in our 
leading brands (Brastemp, Consul and Whirlpool) 
and expect sustained strong margins in 2025.
Juan Carlos Puente
Executive Vice President and President, 
Whirlpool Latin America
SEGMENT ACHIEVEMENTS & 
OPERATIONAL PRIORITIES
In 2024, we faced a difficult macroeconomic environment and took 
decisive actions to deliver promotional pricing improvement and 
approximately $300 million cost take out. We completed a significant 
step in our portfolio transformation with the closure of our Europe 
transaction in April, and as a result, we simplified our organization’s 
operating model, enabling greater business unit autonomy. Our business 
remains well-positioned for success as we continue to deliver innovative 
new products that improve life at home for our consumers.
| 6 |  Whirlpool Corporation 2024 Annual Report

Major Domestic Appliances
ASIA
Industry strength and share gains drove strong results, 
with 9% net sales growth and 160 basis points of EBIT 
margin expansion. We generated $462 million of net 
cash from the sale of our 24% stake in Whirlpool of India, 
and expect to further reduce our stake by ~30% in 2025. 
We are confident in the long-term growth opportunities 
in the segment and expect this transaction to enable 
Whirlpool of India to focus on growth acceleration.
James Peters
Executive Vice President, 
Chief Financial and 
Administrative Officer and 
President, Whirlpool Asia
Small Domestic Appliances
GLOBAL
We delivered 4% net sales growth despite a 
challenging industry environment, driven by new 
product launches and strength in our direct-to-
consumer business. We expect strong net sales 
growth in 2025 from our new product introductions 
in high potential categories such as espresso, 
cordless appliances and blenders.
Ludovic Beaufils
Executive Vice President 
and President, 
KitchenAid Small Appliances
CASH RETURNED TO SHAREHOLDERS
$1.4B
$1.3B
$0.4B
$0.4B
2021
2022
2023
2024
TOTAL ANNUAL REVENUE
$22.0B
$19.7B
$19.5B
$16.6B
2021
2022
2023
2024
ONGOING EBIT(a)
$2.4B
$1.4B
$1.2B
$0.9B
2021
2022
2023
2024
ONGOING EBIT MARGIN(a)
10.8%
6.9%
6.1%
5.3%
2021
2022
2023
2024
Whirlpool Corporation 2024 Annual Report  | 7 | 

Major Domestic Appliances
PRODUCT INNOVATION
Whirlpool Corporation boasts a long history of cutting-edge innovation. With over a 
century of sustainable, consumer-focused design, Whirlpool is dedicated to improving 
home life through efficient, reliable and innovative appliances.
KitchenAid 4-Door Refrigerator 
With Flexible Temperature Zone
Built for entertaining, this refrigerator features 
a Multi-Zone Cooling system with three 
independently controlled temperature zones. 
The Flexible Temperature Zone can be switched 
between refrigerator, freezer and wine cellar 
modes, allowing the user to customize the interior 
to suit their needs.
Whirlpool Smart Front Load Washer 
With FreshFlow Vent System
This extra-large capacity front load washer has a trio of 
freshness features, including the FreshFlow Vent System. 
It’s the first fan-powered system with antimicrobial 
protection designed to keep clothes and the appliance 
fresh. The FanFresh option keeps clothes fresh in the 
washer, while the Dry Drum Cycle reduces excess 
moisture in the drum and door. An antimicrobial rubber 
seal helps prevent the growth of odor-causing bacteria.
| 8 |  Whirlpool Corporation 2024 Annual Report

Spin&Load Dishwasher Rack
We are innovating with inclusive design. In 
addition to the Americans with Disabilities 
Act (ADA)-compliant dishwasher models, 
we’re offering a Spin&Load Dishwasher Rack 
accessory: a rack that rotates from a center 
point for greater accessibility, which can be 
helpful to a variety of consumers. A wheelchair 
user can park in one spot and reach the 
entire bottom rack of the dishwasher from 
that position.
Consul Washing Machine
This year we launched a new Consul washer lineup 
in Brazil, representing the latest in sustainable 
washer innovations. These Consul models boast 
features that reduce the environmental footprint: 
Eco Mode, which can save up to 15% of water and 
up to 25% of electricity; water reuse, which allows 
consumers to reuse water for other uses in their 
home; water level indicators, which use the correct 
level of water; and measured dosage, which helps 
identify the ideal amount of laundry powder 
required for each wash.
Maytag Smart Pet Pro 
Front Load Washer
Our Pet Pro Laundry System, now includes a 
front load washer and dryer along with our 
previously launched top load washer and dryer 
pair. These sets feature the Pet Pro Option 
and a dryer lint trap to capture and remove 
pet hair. Extra Power boosts stain fighting and 
drying capabilities.
Whirlpool Corporation 2024 Annual Report  | 9 | 

Small Domestic Appliances
KitchenAid Espresso Collection
A new espresso collection invites coffee lovers to transform their kitchens into 
personal cafes. Whether semi- or fully automatic, an espresso machine for every 
level awaits. The Fully Automatic Espresso Line is available in three models, each 
offering 40-plus recipe options at the touch of a button. Espresso, Americano, 
latte, cappuccino — the possibilities are endless, and personalization is key. For 
those who prefer a hands-on approach, semi-automatic machines provide an 
intuitive experience. Smart Dosing Technology ensures the perfect volume and 
consistency for single or double shots, simplifying the art of espresso creation.
KitchenAid Go Cordless System
Our collection now includes three new cordless 
countertop appliances: a top-down chopper, a 
personal blender and a citrus juicer. Each runs on 
an interchangeable rechargeable 12-volt battery, 
eliminating cords for easy use and storage. 
KitchenAid Grain and Rice Cooker
The KitchenAid Grain and Rice Cooker takes the guesswork out of 
meal prep. It automatically calculates and adds the perfect amount 
of water for up to eight cups of grains, rice or beans. A steam mode 
allows users to perfectly prepare fresh or frozen veggies and more to 
complement their meal.
| 10 |  Whirlpool Corporation 2024 Annual Report

KitchenAid Evergreen 
Stand Mixer
The 2024 KitchenAid Design Series Stand Mixer 
transcends its utilitarian purpose, becoming a 
statement piece through its distinctive color, 
finish and materials. The mixer’s “evergreen” 
hue and walnut wood bowl, featuring a unique 
grain pattern and food-safe finish, bring a touch 
of the outdoors into any kitchen.
2024 Awards and Recognition: Brand and Product Awards
BEST WASHER AND DRYER 
SETS — BEST FOR PETS
U.S. News & World Report
Maytag
BEST ESPRESSO MACHINES 
FOR AT-HOME BARISTAS — 
BEST FULLY AUTOMATIC
Best Products
KitchenAid
BEST ELECTRIC DRYERS —
BEST BUDGET
Forbes
Whirlpool
iF DESIGN AWARD
KitchenAid Go System
KitchenAid Grain and 
Rice Cooker
BEST OF THE KITCHEN & 
BATH INDUSTRY SHOW 
GOLD AWARD
Reviewed.com
JennAir 30” Column Refrigerator 
with SlimTech insulation technology
RED DOT AWARD: 
PRODUCT DESIGN
KitchenAid Espresso 
Collection
Whirlpool Corporation 2024 Annual Report  | 11 | 

OUR OPERATIONS & 
ENVIRONMENTAL IMPACT
Honoring our historic commitment to the environment, Whirlpool is 
focused on improving life at home with innovative, reliable products 
with both the needs of consumers and the planet in mind, as well as 
responsible use of resources in manufacturing our products.
Our Plants and Operations
Driven by innovative modern technology that improves efficiency and reduces 
environmental impacts, and individuals who look after the safety and well-being of one 
another, Whirlpool facilities aim to be the benchmark for global manufacturing excellence. 
36% 
In 2024, we reduced scopes 1 and 2 emissions 
by 36%1 compared to 2023, our third 
consecutive year with double-digit reductions.
Net Zero 
We are on track to achieve our 
commitment of Net Zero emissions 
in our plants and operations by 2030.
1 The 36% reduction includes 18% from the divestiture of the EMEA region and 18% from focused projects.
Sustainable Products 
We design first-in-class products that enhance the lives of our consumers while 
addressing global environmental challenges. Our Design for Sustainability approach 
integrates environmental responsibility across the entire product life cycle, from initial 
design and material choices to consumer usage and end-of-life. By employing circular 
economy principles, this approach reflects our commitment to creating sustainable, high-
performing appliances that meet consumer needs while preserving energy, water and 
material resources. Through a focus on durability and repairability, we also strive to create 
products that are built to last.
2024 Awards and Recognition: Corporate and Regional Awards
DOW JONES 
SUSTAINABILITY INDEX 
World Index — 3rd consecutive year
North America Index — 18th year
100 BEST CORPORATE 
CITIZENS
3BL
100 BEST COMPANIES FOR 
WORKING PARENTS
Inclusion Index Organization
Seramount
| 12 |  Whirlpool Corporation 2024 Annual Report

OUR PEOPLE
People remain at the heart of our business. Whirlpool 
Corporation’s approach to caring for people and 
communities reflects a holistic understanding of 
well-being and the interconnectedness of our work.
Employee Experience
In constant pursuit of being the best global kitchen and laundry 
company, Whirlpool has simplified and streamlined our organizational 
model to provide clarity around our strategy and to align our priorities.
In support of this transformation, we’re developing agile leaders who 
lead through change. At the same time, we’re helping employees to 
excel under the new model by enhancing their skills and capabilities 
and building a sustainable pipeline of exceptional talent.
EMPLOYEE WELL-BEING
We provide support, tools and resources to 
empower and encourage our employees 
to Be*Well in all aspects of life at home 
and work. Our goal is to provide an 
environment that helps employees bring 
their best to Whirlpool every day.
OUR COMMUNITIES
Our House+Home Social Impact Strategy
Our operations are located mostly in small towns, where we embrace our 
responsibility to support our communities. Through our House+Home social impact 
strategy and relationships, we help provide comfortable, nurturing places to live and 
support resilient, thriving and sustainable communities through education programs. 
Organizations and programs supported include: The Washing Machine Project, 
United Way, Boys & Girls Clubs of America, Consulado da Mulher, Whirlpool Feel 
Good Fridge, Whirlpool Care Counts and Whirlpool Community Charity Golf Event.
In 2024, Whirlpool Corporation celebrated a quarter century of collaboration with 
Habitat for Humanity International, a nonprofit organization that helps people 
around the world build or improve a place to call home. In our 25-year relationship 
with Habitat, Whirlpool Corporation has donated $150 million in funding and 
250,000 appliances, helping more than 1 million people in the U.S. and around the 
world gain access to affordable housing.
IMPACT OF OUR 25-YEAR RELATIONSHIP WITH 
HABITAT FOR HUMANITY
$150M
in funding
250,000
appliances donated
1M
people helped
Whirlpool Corporation 2024 Annual Report  | 13 | 

OUR GOVERNANCE
Our diverse and experienced Board includes leaders with demonstrated expertise in many 
substantive areas that align with our strategy, including consumer products; product 
development, innovation and engineering; marketing and brand management; and technology 
and cybersecurity. Our independent directors are experienced, objective and well-equipped 
to exercise oversight over management and represent the interests of shareholders.
Board of Directors
Samuel R. Allen
Presiding Director, Corporate 
Governance and Nominating 
Committee Chair, Human 
Resources Committee
Former Chairman and 
Chief Executive Officer, 
Deere & Company
Marc R. Bitzer
Chairman and Chief 
Executive Officer
Whirlpool Corporation
Greg Creed
Corporate Governance 
and Nominating Committee, 
Human Resources Committee
Former Chief Executive Officer, 
Yum! Brands, Inc.
Diane M. Dietz
Human Resources Committee 
Chair, Finance Committee
Former President and 
Chief Executive Officer, 
Rodan & Fields, LLC
Gerri T. Elliott
Finance Committee, 
Human Resources Committee
Former Executive Vice President 
and Chief Customer and 
Partner Officer, Cisco Systems, Inc.
Richard J. Kramer 
Audit Committee, 
Corporate Governance and 
Nominating Committee
Former Chairman, Chief Executive 
Officer and President, The Goodyear 
Tire & Rubber Company
Jennifer A. LaClair
Audit Committee Chair, 
Corporate Governance and 
Nominating Committee 
Head of Merchant Solutions,  
Fiserv Inc.  
John D. Liu
Finance Committee Chair, 
Audit Committee
Chief Executive Officer, Essex Equity 
Capital Management and Managing 
Partner, Richmond Hill Investments
James M. Loree
Audit Committee, 
Finance Committee
Chief Executive Officer, 
Serta Simmons Bedding, LLC
Harish Manwani
Corporate Governance 
and Nominating Committee, 
Human Resources Committee 
Senior Operating Partner, 
The Blackstone Group
John G. Morikis
Corporate Governance 
and Nominating Committee, 
Human Resources Committee
Former Chairman and Chief 
Executive Officer,
The Sherwin-Williams Company
Larry O. Spencer
Corporate Governance and 
Nominating Committee, 
Finance Committee
President, Armed Forces Benefit 
Association, and Chairman 
and President, 5Star Life 
Insurance Company
Rudy Wilson
Audit Committee, 
Finance Committee
Former President, Global 
Consumer Brands, SC Johnson
Executive Committee
Ludovic Beaufils
Executive Vice President 
and President, KitchenAid 
Small Appliances 
Marc R. Bitzer
Chairman of the Board and 
Chief Executive Officer 
Roberto H. Campos
Executive Vice President, 
Global Product Organization 
and Strategic Sourcing
Holger Gottstein
Executive Vice President, Strategy 
and Business Development
Carey L. Martin
Executive Vice President and 
Chief Human Resources and 
Corporate Relations Officer
Alessandro Perucchetti
Executive Vice President 
and President, Whirlpool 
North America
James W. Peters
Executive Vice President, 
Chief Financial and 
Administrative Officer and 
President, Whirlpool Asia
Juan Carlos Puente
Executive Vice President 
and President, Whirlpool 
Latin America
| 14 |  Whirlpool Corporation 2024 Annual Report

OUR FINANCIAL 
POSITION
I am pleased with our team’s execution of 
our operational priorities in 2024, delivering 
pricing actions and approximately 
$300 million of cost take out. We 
strengthened our balance sheet through 
reducing our debt levels by $500 million 
and delivered structural inventory 
efficiency through disciplined working 
capital management. Our free cash flow(a) 
of $385 million alongside approximately 
$500 million of cash generated from the 
sale of our 24% stake in our India business 
and Brastemp water filtration business 
supported our shareholder-friendly capital 
allocation priorities.
Financial Summary
We delivered $12.21 ongoing EPS(a) despite a very 
challenging macroeconomic environment. In the U.S., 
existing home sales continue to be at multi-decade lows, 
negatively impacting discretionary demand and our 
product mix. Strong execution of cost and pricing actions 
partially offset these challenges as we delivered revenue 
of $16.6 billion and ongoing EBIT margin(a) of 5.3%.
Clear Capital Allocation 
Priorities Are Unchanged
•	 Fund organic growth: In 2024, we invested nearly 
$1 billion in capital expenditures and research and 
development, launching 100+ new products globally. 
We continue to deliver meaningful product innovation 
to improve life at home for our consumers and drive 
margin expansion.
•	 Strengthen Balance Sheet: Our debt levels are 
temporarily elevated from borrowings related to the 
InSinkErator acquisition. We repaid $500 million of our 
acquisition-related term loan in 2024 and expect to 
continue progress toward our net debt leverage target 
of ~2x in 2025.
•	 Demonstrated commitment to shareholder 
returns: We paid approximately $400 million 
in dividends and executed $50 million of share 
buybacks in 2024.
In closing, while we have faced a challenging 
macroeconomic environment in the U.S., we are 
confident in the actions we have taken to strengthen our 
business. The completion of our European transaction 
in April 2024 marked a significant milestone in our 
portfolio transformation toward a higher-margin and 
higher-growth business. Through strategic actions 
focused on delivering innovative products, driving 
margin expansion and returning value to shareholders, 
we are well-positioned to benefit from an eventual 
housing market recovery in the U.S.
James Peters
Executive Vice President, Chief Financial and 
Administrative Officer and President, Whirlpool Asia
Whirlpool Corporation 2024 Annual Report  | 15 | 

FINANCIAL RECONCILIATIONS
1
Full-Year Ongoing Earnings Before Interest and Taxes and Ongoing Earnings Per Diluted Share
EARNINGS BEFORE INTEREST AND TAXES RECONCILIATION
Twelve Months Ended December 31,
2021
2022
2023
2024
Net earnings (loss) available to Whirlpool
	
1,783
	
(1,519)
	
481
	
(323)
Net earnings (loss) available to noncontrolling interests
	
23
	
8
	
7
	
18
Income tax expense (benefit)
	
518
	
265
	
77
	
10
Interest expense
	
175
	
190
	
351
	
358
Earnings (loss) before interest and taxes
	
2,499
	
(1,056)
	
916
	
63
Net sales
	
21,985
	
19,724
	
19,455
	
16,607
Net earnings (loss) margin
	
8.1% 	
(7.7)% 	
2.5% 	
(1.9)%
EARNINGS BEFORE INTEREST AND TAXES
Twelve Months Ended  
December 31,
EARNINGS PER  
DILUTED SHARE
Twelve Months Ended  
December 31,
2021
2022
2023
2024
2024
Reported measure
	
2,499
	
(1,056)
	
916
	
63
	
(5.87)
Restructuring costs
	
38
	
	
	
79
	
1.44
Impairment of goodwill, intangibles and other assets
	
	
396
	
	
381
	
6.92
Impact of M&A transactions
	
(107)
	
1,936
	
181
	
292
	
5.30
Substantial liquidation of subsidiary
	
	
84
	
	
	
Legacy EMEA legal matters
	
	
	
94
	
(2)
	
(0.04)
Equity method investee — restructuring charges
	
	
	
	
74
	
1.34
(Gain) loss on previously held equity interest
	
(42)
	
	
	
	
Product warranty and liability (income) expense
	
(9)
	
	
	
	
Total income tax impact
	
	
	
	
	
4.28
Normalized tax rate adjustment
	
	
	
	
	
(1.16)
Ongoing measure
	
2,379
	
1,360
	
1,191
	
887
	
12.21
Net sales
	
21,985
	
19,724
	
19,455
	
16,607
	
Ongoing EBIT margin
	
10.8%
	
6.9%
	
6.1%
	
5.3%
	
For 2024, our full-year GAAP tax rate was (5.5)%. The aggregate income tax impact of the taxable components of each adjustment is presented in the income tax impact 
line item at our full-year adjusted tax (non-GAAP) rate of (28.6)%.
For 2023, our full-year GAAP tax rate was 13.0%. The aggregate income tax impact of the taxable components of each adjustment is presented in the income tax impact 
line item at our full-year adjusted tax (non-GAAP) rate of (6.7)%.
For 2022, our full-year GAAP tax rate was (21.6)%. The aggregate income tax impact of the taxable components of each adjustment is presented in the income tax 
impact line item at our full-year adjusted tax (non-GAAP) rate of 4.4%.
For 2021, our full-year GAAP tax rate was 22.2%. The aggregate income tax impact of the taxable components of each adjustment is presented in the income tax impact 
line item at our full-year adjusted tax (non-GAAP) rate of 23.5%.
FREE CASH FLOW RECONCILIATION
Twelve Months Ended December 31,
(millions of dollars)
	
2024
Cash provided by (used in) operating activities
	
$ 835
Capital expenditures
	
(451)
Free cash flow
	
$ 385
Cash provided by (used in) investing activities
	
(602)
Cash provided by (used in) financing activities
	
(476)
1 Numbers may not reconcile due to rounding.
| 16 |  Whirlpool Corporation 2024 Annual Report


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	 S&P 500 Index
	 S&P 500 Household Durables
	 Whirlpool Corporation
TOTAL SHAREHOLDER RETURN
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, 2019, in Whirlpool Corporation common stock, the S&P 500 and 
the S&P 500 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 dividends)
ANNUAL RETURN PERCENTAGE Twelve Months Ended December 31,
Company/Index
2020
2021
2022
2023
2024
Whirlpool Corporation
26.52
33.26
-37.16
-9.09
0.60
S&P 500 Index
18.40
28.71
-18.11
26.29
25.02
S&P 500 Household Durables
20.37
36.51
-24.91
56.78
7.51
INDEXED RETURNS Twelve Months Ended December 31,
BASE PERIOD
Company/Index
2019
2020
2021
2022
2023
2024
Whirlpool Corporation
100
126.52
168.59
105.95
96.32
96.90
S&P 500 Index
100
118.40
152.39
124.79
157.59
197.02
S&P 500 Household Durables
100
120.37
164.32
123.39
193.46
207.99
FOOTNOTES
PAGES 4, 7, 15
(a)  The ongoing measures, including ongoing earnings before interest and taxes and ongoing earnings per diluted share, as well as free cash flow, are non-GAAP measures. 
Please see Financial Reconciliations for a reconciliation of these non-GAAP measures to their equivalent GAAP measures.
COMPARISON OF CUMULATIVE FIVE-YEAR TOTAL RETURN
2019
$0
$50
$100
$150
$200
$250
2020
2021
2022
2023
2024
STOCKHOLDER & OTHER INFORMATION
Whirlpool Corporation’s Annual Report on Form 10-K and other financial 
information is available free of charge to stockholders.
The information contained in this Annual Report should be read together 
with Whirlpool Corporation’s Financial Statements and related notes 
and “Management’s Discussion and Analysis” and “Forward-Looking 
Statements.” This information appears in the company’s 2024 Annual 
Report on Form 10-K filed with the Securities and Exchange Commission, 
which is included herewith and available on the company’s website at 
Investors.WhirlpoolCorp.com.
The Annual Report on Form 10-K and company earnings releases for each 
quarter — typically issued in April, July, October and January — can be 
obtained by contacting:
Scott Cartwright
Senior Director, Investor Relations Whirlpool Corporation
2000 N. M-63, Mail Drop 2609
Benton Harbor, MI 49022-2692
Email: investor_relations@whirlpool.com
Stock Exchanges
Common stock of Whirlpool Corporation (exchange symbol: WHR) 
New York Stock Exchange and NYSE Chicago.
Trademarks
Acros, Amana, Brastemp, Care Counts, Consul, Gladiator, InSinkErator, 
JennAir, KitchenAid, KitchenAid Go, Maytag, SlimTech, Whirlpool
and the design of the stand mixer are trademarks of Whirlpool 
Corporation or its wholly or majority-owned affiliates.
United Way, Habitat for Humanity, Boys & Girls Clubs of America and 
certain other trademarks are owned by their respective companies.

Whirlpool Corporation
Please visit our online Annual Report at 
ar.whirlpoolcorp.com