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Whirlpool Sees Reserve of About $95m in 4Q Tied to Tax Ruling

Dec. 8, 2021, 10:19 PM

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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Greg Chang in San Francisco at ...