RECAST HISTORICAL SEGMENT FINANCIAL DATA
(UNAUDITED)
Total Whirlpool | 2017 | 2016 | 2015 | |||||||||||||
Amounts in millions | Q1 | Q2 | Q3 | Q1 | Q2 | Q3 | Q4 | Full Year | Q1 | Q2 | Q3 | Q4 | Full Year | |||
Units Sold (in thousands) | 16,161 | 17,679 | 18,134 | 15,802 | 17,292 | 17,950 | 20,648 | 71,692 | 16,250 | 16,657 | 17,440 | 19,925 | 70,272 | |||
Net Sales | 4,786 | 5,347 | 5,418 | 4,616 | 5,198 | 5,248 | 5,656 | 20,718 | 4,846 | 5,208 | 5,277 | 5,560 | 20,891 | |||
Ongoing Net Sales (*) | 4,786 | 5,379 | 5,418 | 4,616 | 5,198 | 5,248 | 5,656 | 20,718 | 4,846 | 5,208 | 5,277 | 5,560 | 20,891 | |||
Gross Margin | 826 | 876 | 915 | 823 | 969 | 940 | 960 | 3,692 | 826 | 907 | 919 | 1,008 | 3,660 | |||
Gross Margin % | 17.3% | 16.4% | 16.9% | 17.8% | 18.6% | 17.9% | 17.0% | 17.8% | 17.1% | 17.4% | 17.4% | 18.1% | 17.5% | |||
Selling, General and Administrative Expenses | 499 | 526 | 521 | 473 | 543 | 519 | 545 | 2,080 | 510 | 555 | 534 | 544 | 2,143 | |||
Earnings Before Interest and Taxes | 239 | 251 | 310 | 253 | 327 | 344 | 351 | 1,275 | 250 | 315 | 308 | 323 | 1,196 | |||
EBIT Margin % | 5.0% | 4.7% | 5.7% | 5.5% | 6.3% | 6.6% | 6.2% | 6.2% | 5.2% | 6.1% | 5.8% | 5.8% | 5.7% | |||
Ongoing Earnings Before Interest and Taxes | 285 | 350 | 355 | 309 | 401 | 388 | 413 | 1,511 | 279 | 336 | 398 | 431 | 1,445 | |||
Ongoing EBIT Margin % | 6.0% | 6.5% | 6.6% | 6.7% | 7.7% | 7.4% | 7.3% | 7.3% | 5.7% | 6.4% | 7.5% | 7.8% | 6.9% | |||
Depreciation and Amortization | 163 | 156 | 168 | 168 | 164 | 164 | 159 | 655 | 161 | 170 | 165 | 172 | 668 |
RECAST HISTORICAL SEGMENT FINANCIAL DATA
(UNAUDITED)
North America | 2017 | 2016 | 2015 | |||||||||||||
Amounts in millions | Q1 | Q2 | Q3 | Q1 | Q2 | Q3 | Q4 | Full Year | Q1 | Q2 | Q3 | Q4 | Full Year | |||
Units Sold (in thousands) | 5,931 | 6,839 | 7,274 | 5,521 | 6,124 | 6,755 | 8,133 | 26,533 | 5,327 | 5,889 | 6,317 | 7,257 | 24,790 | |||
Net Sales | 2,446 | 2,833 | 2,854 | 2,289 | 2,611 | 2,713 | 2,928 | 10,541 | 2,221 | 2,549 | 2,663 | 2,722 | 10,155 | |||
Ongoing Net Sales | 2,446 | 2,833 | 2,854 | 2,289 | 2,611 | 2,713 | 2,928 | 10,541 | 2,221 | 2,549 | 2,663 | 2,722 | 10,155 | |||
Gross Margin | 444 | 541 | 532 | 406 | 524 | 530 | 533 | 1,993 | 397 | 460 | 514 | 525 | 1,896 | |||
Gross Margin % | 18.2% | 19.1% | 18.6% | 17.7% | 20.1% | 19.5% | 18.2% | 18.9% | 17.9% | 18.0% | 19.3% | 19.3% | 18.7% | |||
Selling, General and Administrative Expenses | 163 | 199 | 189 | 163 | 198 | 192 | 189 | 742 | 175 | 183 | 192 | 191 | 741 | |||
Earnings Before Interest and Taxes | 275 | 336 | 336 | 236 | 318 | 331 | 339 | 1,224 | 261 | 265 | 336 | 307 | 1,169 | |||
EBIT Margin % | 11.2% | 11.9% | 11.8% | 10.3% | 12.2% | 12.2% | 11.6% | 11.6% | 11.8% | 10.4% | 12.6% | 11.3% | 11.5% | |||
Ongoing Earnings Before Interest and Taxes | 275 | 336 | 336 | 239 | 318 | 331 | 339 | 1,227 | 214 | 268 | 323 | 344 | 1,150 | |||
Ongoing EBIT Margin % | 11.2% | 11.9% | 11.8% | 10.4% | 12.2% | 12.2% | 11.6% | 11.6% | 9.7% | 10.5% | 12.1% | 12.1% | 11.2% | |||
Depreciation and Amortization | 53 | 54 | 53 | 52 | 54 | 53 | 53 | 212 | 52 | 52 | 52 | 52 | 208 |
RECAST HISTORICAL SEGMENT FINANCIAL DATA
(UNAUDITED)
Latin America | 2017 | 2016 | 2015 | |||||||||||||
Amounts in millions | Q1 | Q2 | Q3 | Q1 | Q2 | Q3 | Q4 | Full Year | Q1 | Q2 | Q3 | Q4 | Full Year | |||
Units Sold (in thousands) | 2,589 | 2,886 | 2,869 | 2,659 | 2,977 | 2,676 | 3,401 | 11,713 | 3,122 | 2,802 | 2,690 | 3,903 | 12,517 | |||
Net Sales | 921 | 986 | 966 | 815 | 960 | 920 | 1,036 | 3,731 | 1,011 | 981 | 871 | 1,020 | 3,883 | |||
Ongoing Net Sales | 921 | 986 | 966 | 815 | 960 | 920 | 1,036 | 3,731 | 1,011 | 981 | 871 | 1,020 | 3,883 | |||
Gross Margin | 171 | 157 | 143 | 127 | 148 | 138 | 165 | 578 | 151 | 143 | 128 | 154 | 576 | |||
Gross Margin % | 18.6% | 15.9% | 14.8% | 15.6% | 15.4% | 14.9% | 15.9% | 15.5% | 15.0% | 14.5% | 14.7% | 15.1% | 14.9% | |||
Selling, General and Administrative Expenses | 96 | 84 | 81 | 77 | 83 | 81 | 89 | 330 | 83 | 94 | 84 | 81 | 342 | |||
Earnings Before Interest and Taxes | 66 | 57 | 55 | 40 | 50 | 43 | 59 | 192 | 48 | 106 | 35 | 40 | 229 | |||
EBIT Margin % | 7.2% | 5.8% | 5.7% | 4.9% | 5.2% | 4.6% | 5.7% | 5.2% | 4.8% | 10.8% | 4.0% | 3.9% | 5.9% | |||
Ongoing Earnings Before Interest and Taxes | 66 | 57 | 55 | 40 | 50 | 43 | 59 | 192 | 58 | 44 | 36 | 42 | 180 | |||
Ongoing EBIT Margin % | 7.2% | 5.8% | 5.7% | 4.9% | 5.2% | 4.6% | 5.7% | 5.2% | 5.7% | 4.5% | 4.1% | 5.7% | 5.0% | |||
Depreciation and Amortization | 31 | 32 | 32 | 28 | 33 | 30 | 30 | 121 | 30 | 33 | 24 | 30 | 117 |
RECAST HISTORICAL SEGMENT FINANCIAL DATA
(UNAUDITED)
Europe, Middle East and Africa | 2017 | 2016 | 2015 | |||||||||||||
Amounts in millions | Q1 | Q2 | Q3 | Q1 | Q2 | Q3 | Q4 | Full Year | Q1 | Q2 | Q3 | Q4 | Full Year | |||
Units Sold (in thousands) | 5,078 | 5,776 | 5,795 | 5,465 | 6,031 | 6,367 | 6,808 | 24,671 | 5,716 | 5,910 | 6,491 | 7,028 | 25,145 | |||
Net Sales | 1,033 | 1,200 | 1,268 | 1,173 | 1,296 | 1,319 | 1,360 | 5,148 | 1,273 | 1,334 | 1,452 | 1,542 | 5,601 | |||
Ongoing Net Sales | 1,033 | 1,200 | 1,268 | 1,173 | 1,296 | 1,319 | 1,360 | 5,148 | 1,273 | 1,334 | 1,452 | 1,542 | 5,601 | |||
Gross Margin | 113 | 146 | 157 | 191 | 212 | 188 | 171 | 762 | 182 | 208 | 189 | 248 | 827 | |||
Gross Margin % | 11.0% | 12.2% | 12.4% | 16.3% | 16.4% | 14.3% | 12.6% | 14.8% | 14.3% | 15.6% | 13.0% | 16.1% | 14.8% | |||
Selling, General and Administrative Expenses | 124 | 139 | 139 | 129 | 159 | 141 | 148 | 577 | 150 | 149 | 149 | 153 | 601 | |||
Earnings Before Interest and Taxes | (23) | (2) | (2) | 46 | 36 | 30 | 38 | 150 | (5) | 48 | 20 | 78 | 141 | |||
EBIT Margin % | (2.3)% | (0.2)% | (0.2)% | 4.0% | 2.8% | 2.3% | 2.8% | 2.9% | (0.4)% | 3.6% | 1.4% | 5.1% | 2.5% | |||
Ongoing Earnings Before Interest and Taxes | (23) | (2) | (2) | 49 | 52 | 39 | 38 | 178 | 13 | 53 | 59 | 78 | 203 | |||
Ongoing EBIT Margin % | (2.3)% | (0.2)% | (0.2)% | 4.2% | 4.0% | 3.0% | 2.8% | 3.5% | 1.0% | 4.0% | 4.1% | 5.1% | 3.6% | |||
Depreciation and Amortization | 48 | 41 | 47 | 47 | 42 | 66 | 49 | 204 | 48 | 59 | 47 | 45 | 199 |
RECAST HISTORICAL SEGMENT FINANCIAL DATA
(UNAUDITED)
Asia | 2017 | 2016 | 2015 | |||||||||||||
Amounts in millions | Q1 | Q2 | Q3 | Q1 | Q2 | Q3 | Q4 | Full Year | Q1 | Q2 | Q3 | Q4 | Full Year | |||
Units Sold (in thousands) | 2,563 | 2,178 | 2,196 | 2,157 | 2,160 | 2,152 | 2,306 | 8,775 | 2,085 | 2,056 | 1,942 | 1,737 | 7,820 | |||
Net Sales | 435 | 373 | 375 | 382 | 378 | 355 | 375 | 1,490 | 386 | 392 | 354 | 328 | 1,460 | |||
Ongoing Net Sales (*) | 435 | 405 | 375 | 382 | 378 | 355 | 375 | 1,490 | 386 | 392 | 354 | 328 | 1,460 | |||
Gross Margin | 96 | 30 | 81 | 96 | 81 | 82 | 86 | 345 | 92 | 93 | 87 | 79 | 351 | |||
Gross Margin % | 22.0% | 8.2% | 21.7% | 25.3% | 21.3% | 23.2% | 22.9% | 23.2% | 23.9% | 23.9% | 24.7% | 24.2% | 24.0% | |||
Selling, General and Administrative Expenses | 63 | 55 | 70 | 61 | 53 | 58 | 59 | 231 | 60 | 58 | 56 | 63 | 237 | |||
Earnings Before Interest and Taxes | 24 | (30) | 9 | 24 | 19 | 19 | 31 | 93 | 26 | 30 | 28 | 12 | 96 | |||
EBIT Margin % | 5.6% | (8.0)% | 2.5% | 6.4% | 5.1% | 5.5% | 8.2% | 6.2% | 6.7% | 7.6% | 8.0% | 3.8% | 6.6% | |||
Ongoing Earnings Before Interest and Taxes | 24 | 10 | 9 | 26 | 35 | 21 | 32 | 114 | 32 | 35 | 31 | 18 | 116 | |||
Ongoing EBIT Margin % | 5.6% | 2.5% | 2.5% | 6.9% | 8.5% | 6.1% | 8.4% | 7.4% | 7.2% | 8.6% | 8.8% | 5.6% | 7.6% | |||
Depreciation and Amortization | 17 | 15 | 22 | 17 | 17 | 16 | 13 | 63 | 16 | 16 | 16 | 14 | 62 |
RECAST HISTORICAL SEGMENT FINANCIAL DATA
(UNAUDITED)
Other/Elimination | 2017 | 2016 | 2015 | |||||||||||||
Amounts in millions | Q1 | Q2 | Q3 | Q1 | Q2 | Q3 | Q4 | Full Year | Q1 | Q2 | Q3 | Q4 | Full Year | |||
Units Sold (in thousands) | — | — | — | — | — | — | — | — | — | — | — | — | — | |||
Net Sales | (49) | (45) | (45) | (43) | (47) | (59) | (43) | (192) | (45) | (48) | (63) | (52) | (208) | |||
Ongoing Net Sales | (49) | (45) | (45) | (43) | (47) | (59) | (43) | (192) | (45) | (48) | (63) | (52) | (208) | |||
Gross Margin | 2 | 2 | 2 | 3 | 4 | 2 | 5 | 14 | 4 | 3 | 1 | 2 | 10 | |||
Gross Margin % | (3.8)% | (4.3)% | (5.3)% | (6.9)% | (8.9)% | (4.1)% | (11.6)% | (7.5)% | (9.7)% | (6.5)% | (1.8)% | (3.1)% | (4.9)% | |||
Selling, General and Administrative Expenses | 53 | 49 | 42 | 43 | 50 | 47 | 60 | 200 | 42 | 71 | 53 | 56 | 222 | |||
Earnings Before Interest and Taxes | (103) | (110) | (88) | (93) | (96) | (79) | (116) | (384) | (80) | (134) | (111) | (114) | (439) | |||
EBIT Margin % | nm | nm | nm | nm | nm | nm | nm | nm | nm | nm | nm | nm | nm | |||
Ongoing Earnings Before Interest and Taxes | (57) | (51) | (43) | (45) | (54) | (46) | (55) | (200) | (38) | (64) | (51) | (52) | (205) | |||
Ongoing EBIT Margin % | nm | nm | nm | nm | nm | nm | nm | nm | nm | nm | nm | nm | nm | |||
Depreciation and Amortization | 14 | 14 | 14 | 24 | 18 | (1) | 14 | 55 | 15 | 10 | 26 | 31 | 82 |
nm = not meaningful
(*) Reflects the impact of the out-of-period adjustment in our China business related to trade promotion accruals as disclosed in footnote (d) within the supplemental information information in the reconciliation of GAAP to non-GAAP financial measures in our second quarter 2017 earnings release.