Whirlpool 2012 Annual Report Download - page 5

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#1 MAJOR
APPLIANCE
COMPANY
LEADING
SCALE
STRONGEST BRAND
PORTFOLIO
BEST
DISTRIBUTION
2012 RESULTS
Our consistent and disciplined execution of the actions
we laid out resulted in four straight quarters of year-over-
year ongoing business operations margin improvement
in 2012.
• Revenues were up approximately 3 percent — excluding
the impact of foreign currency and BEFIEX tax credits —
as our strong price and mix continued throughout
the year.
• Our underlying cash flow generation from ongoing
business operations improved by more than $550 million.
• $155 million was returned to our shareholders during
the year through dividends.
These results underscore the success we can achieve when
we focus on the key drivers we control. As in prior years,
2012 brought external challenges. We faced negative
demand in North America, Europe and Asia. In addition,
raw material costs were more than $300 million higher;
inflation climbed to double digits in emerging markets; and
we had severe currency devaluation in our key markets of
Brazil and India. The 68,000 people of Whirlpool Corporation
responded with great execution and a dedication to deliver
on our performance commitments. For our people, it is
about our core value of Integrity — doing what we say we
will do. It’s that simple.
The Whirlpool Strategic Growth Strategy depicted on the
Whirlpool
brand
Resource Saver
30-inch electric
induction cooktop
3