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2007 Annual Report
WHIRLPOOL MAYTAG KITCHENAID JENN-AIR AMANA BRASTEMP CONSUL BAUKNECHT GLADIATOR

Table of contents

  • Page 1
    WHIRLPOOL M AY TA G KITCHENAID JENN-AIR AMANA BRASTEMP CONSUL BAUKNECHT G L A D I ATO R 2007 Annual Report

  • Page 2
    ... SUMMARY C O N S O L I DAT E D F I N A N C I A L S TAT E M E N T S REPORTS OF MANAGEMENT AND INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM F I V E -Y E A R S E L E C T E D F I N A N C I A L DATA S H A R E H O L D E R A N D OT H E R I N F O R M AT I O N BOARD OF DIRECTORS / EXECUTIVE COMMITTEE

  • Page 3
    ...Letter 2007 marked a year of significant progress and results at Whirlpool Corporation. In a very challenging global economic environment, we achieved record results. We delivered outstanding performance in our international businesses, generated record levels of innovation and completed the Maytag...

  • Page 4
    ... billion. The Maytag integration was completed, and we realized more than $400 million in efficiencies. $502 million was returned to shareholders in the form of dividends and share repurchases. S T R AT E G Y E X E C U T I O N CHAIRMAN'S LETTER P. 2 We remain committed to our brand value creation...

  • Page 5
    .... And in 2008, we will accelerate new product innovation globally. In the United States, we are increasing the size of our sales force and providing more resources - training, territory coverage and access to trade customers. Going forward, we will continue to drive cost productivity throughout the...

  • Page 6
    ... us into a high-margin, fastgrowing market segment - premium appliances. P. 4 CHAIRMAN'S LETTER In today's global marketplace, we are positioning ourselves to be a company that is flexible and agile with boundless opportunities. Innovation Innovation not only attracts consumers to our brands, it...

  • Page 7
    ... surfaces designed to go over the tops of washing machines and dryers, adding extra work space in the laundry room. The accessories are available in a variety of colors for every washer and dryer we sell. This portion of our business is a rapidly growing, valuecreating and integral part of Whirlpool...

  • Page 8
    ... Whirlpool employees and investors. Whirlpool Corporation is better positioned to succeed than ever before. I look forward to reporting to you, this time next year, our continued accomplishments. CHAIRMAN'S LETTER P. 6 Sincerely, Jeff M. Fettig Chairman of the Board & Chief Executive Officer

  • Page 9
    ...millions, except per share data) 2007 2006 % Change Net sales Earnings from continuing operations Per share on a diluted basis Stockholders' equity Total assets Return on equity Book value per share Dividends per share Share price High Low Close Shares outstanding at December 31 (in 000s) Number...

  • Page 10
    ... #1 Global Share #1 Global Appliance Brand NORTH LATIN AMERICA AMERICA REGION REGION # 1 major appliance market share Leading brands in mass and premium segments Three of top 10 brands in bi-annual HFN magazine ranking of major appliance "Power Brands" # 1 consumer position in Brazil and Argentina...

  • Page 11
    EUROPE REGION # 1 brand position Growth in the premium brand segment Continued expansion into emerging markets ASIA REGION # 1 consumer-preferred brand in India A leader among Western brands in China Continued expansion into emerging markets O U R CO M PA N Y P. 9

  • Page 12
    ... great brand names that each holds a unique and differentiated position in the global marketplace. The Whirlpool active balancer The Maytag demanding loyalist The KitchenAid home enthusiast The Jenn-Air proud gourmet The Amana practical style-seeker The Brastemp trendy cosmopolitan The Consul close...

  • Page 13
    OUR BRANDS Our Brands P. 1 1

  • Page 14
    TH E TAY L O RS

  • Page 15

  • Page 16
    ... all the help it can get to manage all of life's demands. Despite a to-do list that never ends, the No. 1 priority is family and spending time together. Sharing a meal with family and friends is far more important than actually preparing it. They're always looking for appliances to help them get...

  • Page 17
    PRODUCTIVE CARING ORGANIZED I N N OVAT I V E E CO - E F F I C I E N T INTUITIVE The Whirlpool brand promises innovative solutions that help the Taylor family get more done, faster and easier than ever before, resulting in a great sense of accomplishment at the end of each day. WHIRLPOOL P. 1 5

  • Page 18

  • Page 19
    ... washer naturally steams away tough stains, from grass to grease, without pre-treating. The steam dryer removes odors and reduces wrinkles from clothing. And as more and more laundry rooms are relocating from the basement to higher-profile areas of the home, Whirlpool brand has responded with high...

  • Page 20

  • Page 21
    ... connection unites appliances and electronics, allowing consumers to remove clutter from counters and refrigerator doors. The centralpark connection provides a docking port on the refrigerator that supplies power to electronic devices, which are manufactured and sold by third parties as accessories...

  • Page 22
    .... In 2008, Whirlpool brand is slated to launch nine major products in North America alone. These launches include an expanded line of vibrant new colors and accessories for the laundry room. The brand also is launching a French door bottommount refrigerator with external ice and water dispensing, as...

  • Page 23
    ...is India's first and only direct-flow reverse osmosis water purifier with no storage tank, enabling immediate consumption of freshly purified water. OPTIONS TO ORGANIZE Whirlpool brand Laundry 1-2-3 products provide consumers with custom options to organize laundry rooms. The work surface provides...

  • Page 24
    TH E M I L L E RS

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  • Page 26
    ... family has high expectations for the brands they purchase and use. They usually gravitate to brands that are well-established and proven. The Millers are extremely loyal and will use a brand for as long as it continues to meet their expectations. They demand high-performance appliances and are...

  • Page 27
    D E P E N DA B L E H I G H - Q UA L I T Y RELIABLE ST R O N G DURABLE Maytag brand appliances offer a heritage of quality and performance on which the Millers can depend. Maytag brand products are exceptionally durable and feature commercial-grade components. M AY TA G P. 2 5

  • Page 28

  • Page 29
    ... ® stain-fighting additive into the pre-wash cycle to help remove tough stains. The Epic pair is available in a new arctic blue color. With a solid steel frame, heavy-duty shock absorbers, and high impact-resistant windows, the Maytag Epic washer and dryer are built strong to last long. M AY TA...

  • Page 30

  • Page 31
    ...AY TAG L AU N D R Y 1 - 2 - 3 O R G A N I Z AT I O N A L AC C E S S O R I E S Maytag Laundry 1-2-3 organizational accessories feature slide-out and protective work surface options. The laundry towers fit beside or between the washer and dryer and feature oversized storage drawers, a pull-out supply...

  • Page 32
    ... Maytag Bravos steam dryer, the first topload steam dryer in the industry. H I G H EFFICIENCY The Maytag Bravos high-efficiency, large-capacity top-load washer and dryer system features a commercialgrade stainless steel wash basket - providing the thorough, dependable clean of a front-load laundry...

  • Page 33
    ... of cooktops, built-in coffee machines, built-in ovens and microwaves, elegant range hoods and freestanding ranges. 100 TH ANNIVERSARY In celebration of the 100th anniversary of the first Maytag washer, the special edition Maytag Centennial pair features commemorative styling with a center-knob...

  • Page 34
    TH E G RA N G E RS

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  • Page 36
    OUTGOING PAS S I O NAT E WA R M G E N E RO U S FAM I LY- O R I E N T E D THE GRANGERS P. 3 4 The Granger family loves to cook, especially with others. Outgoing and imaginative, they enjoy the process of cooking and want appliances that let them express their creativity.

  • Page 37
    ...I M E L E SS INTUITIVE Q UA L I T Y C R A F TS M A N S H I P The KitchenAid brand is for those who are passionate about cooking. KitchenAid brand products feature easy-to-use performance, timeless design and quality you can feel, making cooking effortless for the Granger family. KITCHENAID P. 3 5

  • Page 38

  • Page 39
    ...TA N D M I X E R Introduced in 1919, the iconic KitchenAid stand mixer is more popular today than ever. One secret to its ingenious design is a hub that accommodates more than a dozen optional attachments. This feature has enabled KitchenAid brand to continuously add to the mixer's versatility with...

  • Page 40

  • Page 41
    ... SERIES II The KitchenAid Architect Series II is the latest generation of top-of-the-line appliances. Design elements include seamless surfaces for easier cleaning; easyto-grip handles for better control and access; larger windows on oven doors for better visibility; warming drawers on select range...

  • Page 42
    ... to build upon the legacy of these icons to create a complete line of products designed for cooks. From countertop appliances to cookware, ranges to refrigerators, and whisks to wine cellars, KitchenAid brand offers virtually every essential for the well-equipped kitchen. Professional chefs choose...

  • Page 43
    ...make outdoor entertaining easier and more enjoyable. The new line includes such additions as warming drawers, pull-out tank access on freestanding grills, and built-in trash and utility drawers for cooking islands. LAUNCH KitchenAid major appliances are now available in France, Italy and the United...

  • Page 44
    TH E PA R K E RS

  • Page 45

  • Page 46
    ...-minded and goal-oriented. Whether setting an elegant table or creating a delicious dinner, the Parkers like to entertain and strive for perfection. Proud of their home, the Parkers want kitchen appliances that offer both style and performance.

  • Page 47
    ...-A i r b ra n d o f fe r s re f i n e d k i tc h e n a p p l i a n ce s t h a t d e l i ve r b e a u t i f u l re s u l t s . Uncompromising in performance, style and attention to detail, Jenn-Air brand offers products that help the Parker family create gourmet dishes and host perfect dinner parties...

  • Page 48

  • Page 49
    JENN-AIR OILED BRONZE SUITE The Jenn-Air oiled bronze suite of appliances offers a warm, distinctive alternative to stainless steel. The oiled bronze collection is a Jenn-Air exclusive and includes gas and electric cooktops, wall ovens, warming drawers, refrigerators and dishwashers.

  • Page 50

  • Page 51
    ... S S E N T I A L S Jenn-Air brand offers a collection of small-scale appliances for the living room, media room and other rooms beyond the kitchen. The collection includes a wine cellar, beverage center, ice machine, undercounter refrigerator, warming and refrigerator drawers, and convenience oven.

  • Page 52
    ... a hood, builtin refrigerator and a built-in microwave oven. Induction cooktops and several styles of refrigerator doors also will be launched in 2008. Jenn-Air brand will continue to drive premium share growth through enhanced in-store experiences, enhanced premium service and unmatched sales...

  • Page 53
    ... Jenn-Air SteamClean dishwashers provide advanced soil and spot cleaning while enhancing an existing wash cycle to produce an even more lustrous shine on stemware. Dishwashers with the SteamClean option have a new silent sound package, making an already quiet dishwasher even quieter. JENN-AIR STEAM...

  • Page 54
    TH E A A RO N S

  • Page 55

  • Page 56
    ...F U L UNPRETENTIOUS POSITIVE THE AARONS P. 5 4 Members of the Aaron family are practical style-seekers who are optimistic about their lives. They are energetic, use style to express themselves and embrace change. Since they like things to be simple yet precise, they look for appliances that offer...

  • Page 57
    ... Y L I S H CO N T E M P O R A RY A F F O R DA B L E CLEVER P R AC T I C A L Amana brand appliances offer practical, clever features that provide the Aaron family with simple and contemporary designs at the right price. The Aarons can express themselves through their Amana appliances. AMANA P. 5 5

  • Page 58

  • Page 59
    ... D L A U N D R Y The Amana front-load laundry pair features a super-capacity 7.1 cubic foot dryer, enabling consumers to dry more in a single load. The washer features antimicrobial component protection and exceeds the 2007 ENERGY STAR ® guidelines for energy and water consumption. AMANA P. 5 7

  • Page 60
    ... home environment and appliances. WRITE D R AW ERASE The Amana JOT refrigerator features a dry-erase finish on the door, enabling consumers to write, draw or erase with easy cleanup. The refrigerator also offers single up-front temperature control and spill-saver glass shelves. The refrigerator...

  • Page 61
    ...an affordable price. AMANA P. 5 9 CONTINUED BRAND E X PA N S I O N In 2008, Amana brand will provide consumers with an entirely refreshed product line. Look for contemporary designs, practical features and affordable prices. Amana brand also will continue to expand its product lines to support the...

  • Page 62
    TH E B O RG E S

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  • Page 64
    ... gather for fun and laughter. While they love being at home, they also travel wherever they can to experience different cultures, food and sights. Their style reflects who they are - professional, cosmopolitan and unique. The Borges family wants their appliances to be an expression of themselves.

  • Page 65
    E M P OW E R I N G DA R I N G AU T H E N T I C ST Y L I S H I N N OVAT I V E The Brastemp brand is empowering, stylish and innovative. A trendsetter in home appliance technology and design, Brastemp products are reliable and they inspire the Borges family to spend time doing the things they enjoy....

  • Page 66

  • Page 67
    ...R A ST E M P C LU B R E F R I G E R ATO R The Brastemp Club refrigerator was designed for people who enjoy entertaining at home with friends and family. It offers an exclusive can dispenser in the door, a shelf to frost glasses, a pre-programmable compartment that allows consumers to cool drinks to...

  • Page 68

  • Page 69
    ... in compact and portable washing machines, Brastemp Eggo was created to take care of the most delicate fabrics and clothes, such as lingerie, swimwear and baby clothes. Its ozone cycle eliminates bacteria. A digital panel controls Brastemp Eggo , which can wash about two pounds of laundry at a time...

  • Page 70
    ... appliance innovations within Brazil. C O M P L E T E D I G I TA L OV E N The Brastemp Touch is the only range in the market offering a complete digital oven. P. 6 8 CONTINUED G R OW T H The Brastemp brand continues to strengthen its efforts to promote its very successful "B Side" positioning...

  • Page 71
    ... multi-use drawer. S I M P L E TO U C H O F A BUTTON The Brastemp Flex freezer allows consumers to choose between using the product as a freezer or as a refrigerator with a simple touch of a button. NEW PRODUCT INTRODUCTIONS In 2008, the Brastemp brand will rejuvenate its line of washing machines...

  • Page 72
    THE CARVALHOS

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  • Page 74
    ... E C A R VA L H O S P. 7 2 The Carvalhos put family first, taking pleasure in the simple things in life. Warm and outgoing, they are a close-knit, traditional family with mom at the heart of everything. They want appliances that make life easier so they can spend more time with family and friends.

  • Page 75
    GENEROUS E ASY-TO - U S E I N C LU S I V E B E AU T I F U L T R U ST WO R T H Y The Consul brand is part of everyday life. It offers products and services that are dependable, durable and make life a little easier for the Carvalho family. CONSUL P. 7 3

  • Page 76

  • Page 77
    C O N S U L AQ U A R E L A R E F R I G E R ATO R The Consul Aquarela refrigerator is covered in a special coating that allows consumers to draw and erase on doors and sides, emulating a dry-erase whiteboard. With Aquarela , members of the family can leave messages to each other, making the kitchen ...

  • Page 78

  • Page 79
    C O N S U L M A R É WA S H I N G M AC H I N E The Consul Maré washing machine comes with an exclusive "easy level" feature that lets the consumer determine the correct amount of clothes, soap and water.

  • Page 80
    ... brand is close and intimate with its consumers and is considered part of their homes and family histories. A leader in refrigerators, washing machines and air conditioners, the brand understands its consumers' values and behaviors and how to best translate their needs into products and services...

  • Page 81
    ..., space heaters, ceiling fans and vacuum cleaners. COMPETITIVE RANGE LINE The Consul brand is refreshing its entire cooking product line and expects to strengthen its leading position in the home appliance category with the new Scents ranges. Consul Scents ranges are competitively priced and...

  • Page 82
    TH E B E C K E RS

  • Page 83

  • Page 84
    ... E D C R E AT I V E CONFIDENT THE BECKERS P. 8 2 The Becker family has an energetic, future-oriented and positive approach to life. They enjoy life and being with family and friends. Health-conscious and socially responsible, the Beckers look for appliances that help them support the environment.

  • Page 85
    ... E CO - F R I E N D LY CARING V E R SAT I L E The Bauknecht brand makes life more comfortable for the Becker family. Featuring premium products that are reliable and make healthy living easy, the Bauknecht brand is committed to helping the Beckers conserve the earth's natural resources every single...

  • Page 86

  • Page 87
    B AU K N E C H T S T E A M WA S H I N G M AC H I N E The B auknecht Steam washing machine uses the natural power of steam to hygienically clean laundry even at low temperatures. It also freshens garments quickly and helps to gently remove tough stains from clothes. BAUKNECHT P. 8 5

  • Page 88
    ..., Bauknecht will renew its line of freestanding appliances, offering new innovations that will be eco-friendly and focused on consumers' health, hygiene and comfort. E X T E N DA B L E S TO R AG E S PAC E The built-in, double-drawer refrigerator provides modern, extendable storage space that can be...

  • Page 89
    ...E The new steam oven brings together the health advantage of steam cooking with classic oven functions. Additionally, 40 % LESS ENERGY The Bauknecht SuperEco washing machine consumes approximately 40 percent less energy than traditional washing machines when set at the 60 degrees Celsius SuperEco...

  • Page 90
    TH E BAU E RS

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    PAS S I O NAT E AC T I V E A DV E N T U RO U S O RG A N I Z E D C R E AT I V E THE BAUERS P. 9 0 The Bauer family spends time doing what they love. They have diverse hobbies and interests. Since they are always on the go, they want a garage storage solution that lets them find items quickly and ...

  • Page 93
    ... OVAT I V E A Gladiator brand garage provides complete organization for the busy Bauer family. Gladiator Garageworks products are specifically designed for the harsh environment of the garage, and it is the only organization line to complement its storage solutions with matching appliances that are...

  • Page 94

  • Page 95
    ... O LU T I O N S " "Smart Solutions" by Gladiator brand includes the golf caddy, ball caddy, project caddy and clean-up caddy. This series, introduced in early 2008, adds another level of innovation to the Gladiator organization line, addressing the plights of the Gladiator brand consumer and making...

  • Page 96
    ... even more storage space Unique solutions for storage in out-of-reach areas New wall products to help consumers take more items off the floor Beyond expansion within the product line, Gladiator Garageworks brand is gearing up for global expansion as well. The brand will begin selling in Canada in...

  • Page 97
    W O R K S TAT I O N Gladiator VersaTop work surface installs on top of two modular components to create a mobile workstation. The surface is sealed with a clear coat that resists stains and is easy to clean with a wet cloth. The room formerly known as the garage. G L A D I ATO R P. 9 5 MOBILE

  • Page 98
    ... for growth and achievement - providing compelling experiences that can't be found elsewhere. The WoW experience is what attracts and retains the best people to Whirlpool Corporation. It provides them with the opportunity to engage in challenging work in a global company where contributions matter.

  • Page 99
    ...in appliances on the show. My idea made a difference. Our People M A R K S I VA Brand Marketing Manager Microwave Ovens, Europe Comerio, Italy I recently joined Whirlpool, and I already feel right at home. The passion, commitment and positive energy that I find all around me create a great working...

  • Page 100
    E WA F O LT Y N S K A Activity Manager Dish Care, Europe Comerio, Italy I work in Brand Marketing in Europe but was asked to participate in an important global project. The opportunity not only helped me get new experience and technical knowledge, it also gave me a different perspective on the ...

  • Page 101
    JUDY ZHANG HR Specialist - Talent Management Shanghai, China I recently traveled to India for a Whirlpool Asia regional Human Resources meeting. For 10 days, I worked alongside my peers from India and Australia. The opportunity provided me with a cultural orientation and an experience that I will ...

  • Page 102
    ... HEWITT Vice President & Associate General Counsel Benton Harbor, Michigan, USA I am amazed by the tremendous power of a group of diverse and talented Whirlpool individuals, aligned and focused on achieving a common goal. I have had the privilege of serving on high-performance teams that, together...

  • Page 103
    ... though I'm part of something great, something relevant. I work with bright people around the world, people who are engaged in making a change and, more important, making a difference. C A R O LY N T O R R E S Product Development Manager, Cooking Business Team Benton Harbor, Michigan, USA From day...

  • Page 104
    ... only run a strong business for its employees, trade customers, consumers and shareholders, it also has been a good neighbor. Whirlpool and its employees voluntarily look for opportunities to positively impact society, while also ensuring that those opportunities align with the company's business.

  • Page 105
    ...Humanity International began in 1999 with the donation of an ENERGY STAR® qualified refrigerator and range to every Habitat for Humanity® home built in North America. Since then, the company has directly improved the lives of more than 44,000 families and donated nearly 90,000 appliances globally.

  • Page 106
    ... programs, special fundraising events, auctions and grassroots initiatives, Cook for the Cure ® has raised more than $7 million globally to support the fight against breast cancer, with more than $6 million of that in the United States benefiting Komen for the Cure ® . KitchenAid also supports...

  • Page 107
    ...) The Instituto Consulado da Mulher is dedicated to improving the lives of low-income women living in Brazil. It encourages positive gender relations and the creation of small business cooperatives to help women develop their entrepreneurial skills so they can provide their families with a steady...

  • Page 108
    ... In 2007, Whirlpool mentoring mentoringprograms, programs,volunvolunCorporation formalized the teering teeringfor forHabitat Habitatfor for key principles under which Humanity®, Humanity®,and andthrough through the company's suppliers are "executive "executiveon onloan" loan"programs programs...

  • Page 109
    ...Financial Supplement to the Company's Proxy Statement mailed with this Annual Report and in the Financial Supplement to the 2007 Annual Report on Form 10-K filed with the Securities and Exchange Commission, both of which also are available through the Internet at whirlpoolcorp.com. O U R R E S U LT...

  • Page 110
    ... an array of home appliance brands including Maytag, Jenn-Air and Amana. The aggregate purchase price for Maytag was approximately $1.9 billion, including approximately $848 million of cash and approximately 9.7 million shares of common stock. The results of Maytag's operations have been included...

  • Page 111
    ... and lower market share. The reduction in volume in the U.S. was partially offset by higher demand in Canada and Mexico and a higher average unit selling price due to product innovation and better product mix. Excluding the impact of the Maytag acquisition, North America sales decreased 5%. North...

  • Page 112
    ... sale gains had a positive impact on overall gross margin in 2007. Partially offsetting these improvements were significantly higher material- and oil-related costs, particularly in the United States. Included in gross margin for the year ended December 31, 2007 are asset sale gains of $65 million...

  • Page 113
    ...Sale of Investment During 2007, we sold approximately 9 million shares, or 7%, of Whirlpool of India Limited and recorded a gain of approximately $7 million. This sale was executed to satisfy a change in the Stock Exchange Board of India listing standards and regulations. Following the sale of stock...

  • Page 114
    ... lines. We have access to long-term funding in the U.S., Europe and other public bond markets. We are in compliance with the financial covenants for all periods presented. On June 15, 2004, the Board of Directors authorized a share repurchase program under which we may repurchase up to $500 million...

  • Page 115
    ... of Maytag. Offsetting cash flow used in investing activities from continuing operations in 2006 are proceeds received for the sale of certain Maytag discontinued businesses. The goal of our global operating platform is to enhance our competitive position in the global home appliance industry...

  • Page 116
    ...2005 2006 2007 Whirlpool Corporation S&P 500 Index S&P 500 Household Appliances * 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...

  • Page 117
    ...Millions of dollars, except per share data) Year Ended December 31 2007 2006 2005 Net sales EXPENSES $19,408 16,517 1,736 31 61 1,063 $ 18,080 15,420 1,752 30 55 823 $ 14,317 12,123 1,343 2 57 792 Cost of products sold Selling, general..., net of tax Diluted net earnings Dividends W E I G H T E...

  • Page 118
    ... U I T Y CURRENT LIABILITIES $14,009 $ 13,759 Accounts payable Accrued expenses Accrued advertising and promotions Employee compensation Notes payable Current maturities of long-term debt Other current liabilities... Treasury stock - 27 million shares and 24 million shares at December 31, 2007 and ...

  • Page 119
    ... Dividends paid Purchase of treasury stock Common stock issued Other Cash (Used In) Provided By Financing Activities of Continuing Operations Cash Provided By (Used In) Discontinued Operations Operating Activities Investing Activities Cash Provided By Discontinued Operations Effect of Exchange Rate...

  • Page 120
    ... financial position, statements of income and cash flows of Whirlpool and its subsidiaries in accordance with accounting principles generally accepted in the United States. Their audits are conducted in conformity with the auditing standards of the Public Company Accounting Oversight Board (United...

  • Page 121
    ... December 31, 2007. Whirlpool's independent registered public accounting firm has issued an audit report on its assessment of Whirlpool's internal control over financial reporting. This report appears on page 121. P. 1 1 9 Jeff M. Fettig Chairman of the Board and Chief Executive Officer February 22...

  • Page 122
    ... R AT I O N BENTON HARBOR, MICHIGAN REPORTS OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM We have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the consolidated balance sheets of Whirlpool Corporation as of December 31, 2007 and 2006...

  • Page 123
    ... internal control over financial reporting as of December 31, 2007, based on the COSO criteria. We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the consolidated balance sheets of Whirlpool Corporation as of December 31, 2007...

  • Page 124
    ...R S H A R E DATA P. 1 2 2 Basic earnings from continuing operations before accounting change $ 8.24 Diluted earnings from continuing operations before accounting change 8.10 Diluted net earnings 8.01 Dividends 1.72 Book value 48.96 Closing Stock Price-NYSE 81.63 K E Y R AT I O S $ 6.47 6.35 5.67...

  • Page 125
    ... stock of Whirlpool Corporation (exchange symbol: WHR) is listed on the New York and Chicago stock exchanges. Annual Meeting For details, contact Computershare or visit its Direct Stock Purchase Plan Web site to enroll. Stock-Split and Dividend History Whirlpool Corporation's next annual meeting...

  • Page 126
    ... of the Board and Chief Executive Officer David A. Binkley Senior Vice President, Global Human Resources Marc Bitzer Executive Vice President and President, Whirlpool Europe Mark E. Brown Senior Vice President, Global Strategic Sourcing Daniel F. Hopp Senior Vice President, General Counsel and...

  • Page 127
    ...: Michael Abramson Printing: Lake County Press Whirlpool Corporation and General Offices Wo r l d H e a d q u a r t e r s a n d North America Region Latin America Region Internet Address 2000 N. M-63 Benton Harbor, MI 49022-2692 Telephone: 269-923-5000 Europe Region Av. das Nações Unidas...

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    WHIRLPOOL M AY TA G KITCHENAID JENN-AIR AMANA BRASTEMP CONSUL BAUKNECHT G L A D I ATO R