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Whirlpool Corp./DE – ‘10-Q’ for 3/31/21 – ‘EX-18.1’

On:  Thursday, 4/22/21, at 9:11am ET   ·   For:  3/31/21   ·   Accession #:  106640-21-67   ·   File #:  1-03932

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  As Of               Filer                 Filing    For·On·As Docs:Size

 4/22/21  Whirlpool Corp./DE                10-Q        3/31/21   85:11M

Quarterly Report   —   Form 10-Q
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML   1.02M 
 2: EX-18.1     Letter re: a Change in Accounting Principles or     HTML     24K 
                Practices                                                        
 3: EX-31.1     Certification -- §302 - SOA'02                      HTML     28K 
 4: EX-31.2     Certification -- §302 - SOA'02                      HTML     28K 
 5: EX-32.1     Certification -- §906 - SOA'02                      HTML     26K 
12: R1          Cover Page                                          HTML     81K 
13: R2          Consolidated Condensed Statements of Comprehensive  HTML    110K 
                Income (Unaudited)                                               
14: R3          Consolidated Condensed Balance Sheets (Unaudited)   HTML    145K 
15: R4          Consolidated Condensed Balance Sheets               HTML     42K 
                (Parenthetical)                                                  
16: R5          Consolidated Condensed Statements of Cash Flows     HTML     95K 
                (Unaudited)                                                      
17: R6          Basis of Presentation                               HTML    188K 
18: R7          Revenue Recognition                                 HTML     76K 
19: R8          Cash, Cash Equivalents and Restricted Cash          HTML     40K 
20: R9          Inventories                                         HTML     32K 
21: R10         Property, Plant and Equipment                       HTML     35K 
22: R11         Financing Arrangements                              HTML     40K 
23: R12         Commitments and Contingencies                       HTML     59K 
24: R13         Pension and Other Postretirement Benefit Plans      HTML     91K 
25: R14         Hedges and Derivative Financial Instruments         HTML    134K 
26: R15         Fair Value Measurements                             HTML     47K 
27: R16         Stockholders' Equity                                HTML    142K 
28: R17         Restructuring Charges                               HTML     50K 
29: R18         Income Taxes                                        HTML     40K 
30: R19         Segment Information                                 HTML    106K 
31: R20         Assets And Liabilities Held For Sale                HTML     54K 
32: R21         Basis of Presentation (Policies)                    HTML     84K 
33: R22         Basis of Presentation (Tables)                      HTML    171K 
34: R23         Revenue Recognition (Tables)                        HTML     74K 
35: R24         Cash, Cash Equivalents and Restricted Cash          HTML     56K 
                (Tables)                                                         
36: R25         Inventories (Tables)                                HTML     33K 
37: R26         Property, Plant and Equipment (Tables)              HTML     34K 
38: R27         Financing Arrangements (Tables)                     HTML     30K 
39: R28         Commitments and Contingencies (Tables)              HTML     38K 
40: R29         Pension and Other Postretirement Benefit Plans      HTML     88K 
                (Tables)                                                         
41: R30         Hedges and Derivative Financial Instruments         HTML    131K 
                (Tables)                                                         
42: R31         Fair Value Measurements (Tables)                    HTML     45K 
43: R32         Stockholders' Equity (Tables)                       HTML    146K 
44: R33         Restructuring Charges (Tables)                      HTML     50K 
45: R34         Income Taxes (Tables)                               HTML     36K 
46: R35         Segment Information (Tables)                        HTML    102K 
47: R36         Assets And Liabilities Held For Sale (Tables)       HTML     54K 
48: R37         Basis of Presentation - Narrative (Details)         HTML     44K 
49: R38         Basis of Presentation - Changes in Accounting       HTML    163K 
                Principle (Details)                                              
50: R39         Revenue Recognition - Disaggregation of Revenue     HTML     43K 
                (Details)                                                        
51: R40         Revenue Recognition - Allowance for Doubtful        HTML     84K 
                Accounts by Operating Segment (Details)                          
52: R41         Cash, Cash Equivalents and Restricted Cash          HTML     36K 
                (Details)                                                        
53: R42         Inventories (Details)                               HTML     30K 
54: R43         Property, Plant and Equipment (Details)             HTML     47K 
55: R44         Financing Arrangements - Narrative (Details)        HTML     94K 
56: R45         Financing Arrangements - Notes Payable (Details)    HTML     28K 
57: R46         Commitments and Contingencies - Narrative           HTML     92K 
                (Details)                                                        
58: R47         Commitments and Contingencies - Schedule of         HTML     39K 
                Product Warranty Reserves (Details)                              
59: R48         Pension and Other Postretirement Benefit Plans -    HTML     59K 
                Summary of Components of Net Periodic Pension                    
                Costs (Details)                                                  
60: R49         Pension and Other Postretirement Benefit Plans -    HTML     42K 
                Net Periodic Costs Recognized in Operating Profit                
                and Interest and Sundry (Income) Expense (Details)               
61: R50         Pension and Other Postretirement Benefit Plans -    HTML     25K 
                Narrative (Details)                                              
62: R51         Hedges and Derivative Financial Instruments -       HTML     33K 
                Narrative (Details)                                              
63: R52         Hedges and Derivative Financial Instruments -       HTML     29K 
                Schedule of Net Investment Hedging (Details)                     
64: R53         Hedges and Derivative Financial Instruments -       HTML     77K 
                Schedule of Outstanding Derivative Contracts                     
                (Details)                                                        
65: R54         Hedges and Derivative Financial Instruments -       HTML     65K 
                Schedule of Effects of Derivative Instruments on                 
                Consolidated Condensed Statements of Income                      
                (Details)                                                        
66: R55         Fair Value Measurements - Narrative (Details)       HTML     27K 
67: R56         Fair Value Measurements - Assets and Liabilities    HTML     42K 
                Measured at Fair Value on a Recurring Basis                      
                (Details)                                                        
68: R57         Stockholders' Equity - Schedule of Changes in       HTML     73K 
                Stockholders' Equity (Details)                                   
69: R58         Stockholders' Equity - Other Comprehensive Income   HTML     51K 
                (Details)                                                        
70: R59         Stockholders' Equity - Reclassifications out of     HTML     30K 
                Accumulated Other Comprehensive Income (Loss)                    
                (Details)                                                        
71: R60         Stockholders' Equity - Net Earnings Per Share       HTML     41K 
                (Details)                                                        
72: R61         Stockholders' Equity - Share Repurchase Program     HTML     41K 
                (Details)                                                        
73: R62         Restructuring Charges - Restructuring Actions       HTML     47K 
                (Details)                                                        
74: R63         Restructuring Charges - Change in Restructuring     HTML     47K 
                Liability (Details)                                              
75: R64         Restructuring Charges - By Segment (Details)        HTML     38K 
76: R65         Income Taxes - Narrative (Details)                  HTML     27K 
77: R66         Income Taxes - Summary of Income Taxes (Details)    HTML     41K 
78: R67         Segment Information (Details)                       HTML    111K 
79: R68         Assets And Liabilities Held For Sale (Details)      HTML     45K 
80: R69         Assets And Liabilities Held For Sale - Schedule of  HTML     81K 
                Whirlpool China's Assets and Liabilities (Details)               
81: R70         Assets And Liabilities Held For Sale - Schedule of  HTML     36K 
                Whirlpool China's Earnings (Loss) Available to                   
                Whirlpool (Details)                                              
83: XML         IDEA XML File -- Filing Summary                      XML    157K 
11: XML         XBRL Instance -- whr-20210331_htm                    XML   3.06M 
82: EXCEL       IDEA Workbook of Financial Reports                  XLSX    111K 
 7: EX-101.CAL  XBRL Calculations -- whr-20210331_cal                XML    253K 
 8: EX-101.DEF  XBRL Definitions -- whr-20210331_def                 XML    806K 
 9: EX-101.LAB  XBRL Labels -- whr-20210331_lab                      XML   1.63M 
10: EX-101.PRE  XBRL Presentations -- whr-20210331_pre               XML   1.06M 
 6: EX-101.SCH  XBRL Schema -- whr-20210331                          XSD    161K 
84: JSON        XBRL Instance as JSON Data -- MetaLinks              432±   621K 
85: ZIP         XBRL Zipped Folder -- 0000106640-21-000067-xbrl      Zip    524K 


‘EX-18.1’   —   Letter re: a Change in Accounting Principles or Practices


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Exhibit 18.1
April 22, 2021

Board of Directors
Whirlpool Corporation
2000 North M-63
Benton Harbor, MI 49022


Ladies and Gentlemen:

Note 1 of the Notes to the Consolidated Financial Statements of Whirlpool Corporation (the “Company”) included in its Quarterly Report on Form 10-Q for the three months ended March 31, 2021 describes a change in the method of accounting for inventory valuation from the last-in, first-out (LIFO) method to the first-in, first-out (FIFO) valuation method for its United States inventories. There are no authoritative criteria for determining a ‘preferable’ inventory valuation method based on the particular circumstances; however, we conclude that such change in the method of accounting is to an acceptable alternative method which, based on your business judgment to make this change and for the stated reasons, is preferable in your circumstances. We have not conducted an audit in accordance with the standards of the Public Company Accounting Oversight Board (United States) of any financial statements of the Company as of any date or for any period subsequent to December 31, 2020, and therefore we do not express any opinion on any financial statements of the Company subsequent to that date.


Very truly yours,
/s/ Ernst & Young LLP
Chicago, Illinois



Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-Q’ Filing    Date    Other Filings
Filed on:4/22/214,  8-K
For Period end:3/31/21
12/31/2010-K,  11-K,  5,  SD
 List all Filings 


5 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/14/24  Whirlpool Corp./DE                10-K       12/31/23  126:30M
 2/10/23  Whirlpool Corp./DE                10-K       12/31/22  133:33M
 2/10/22  Whirlpool Corp./DE                10-K       12/31/21  127:40M
 4/28/21  Whirlpool Corp./DE                424B5       4/27/21    1:427K                                   Donnelley … Solutions/FA
 4/26/21  Whirlpool Corp./DE                424B3                  1:423K                                   Donnelley … Solutions/FA
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Filing Submission 0000106640-21-000067   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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