Whirlpool said it expects to record a reserve of ~$95m in 4Q after an appeals court affirmed a U.S. Tax Court decision.
- Reserve represents aggregate additional tax expense, plus interest, for 2009-2019, which represents all tax years affected by ruling
- Reviewing ruling in detail to determine legal options
- Expects nominal adj. FCF impact from ruling in 2022
- Continues to expect to achieve FY2021 EPS and adj. FCF guidance
- NOTE: Whirlpool’s Foreign Income Tax Appeal Rejected by Sixth Circuit
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