SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
And Regulation FD
Date of Report (Date of earliest event reported) January 31, 2002
WHIRLPOOL CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 1-3932 38-1490038
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(State or other jurisdiction (Commission File (I.R.S. Employer
of incorporation) Number) Identification No.)
2000 M63 North, Benton Harbor, Michigan 49022-2692
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(Address of principal executive officers) (Zip Code)
(616)-923-5000
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Registrant's telephone number, including area code
Item 5. Other Events and Regulation FD Disclosure
On January 31, 2002, the Company issued a press release announcing a
voluntary recall of approximately 1.4 million Whirlpool, ConfortAire and Sears
Kenmore brand dehumidifiers. The Company will record a fourth-quarter pre-tax
charge of $74 million, for estimated costs associated with the dehumidifier
recall. On October 16, 2001, the company had announced a recall of certain
microwave oven hood-combination products and recognized a $300 million pre-tax
charge in the third quarter of 2001 to cover estimated costs to conduct the
recall. Since October, the company has been able to reduce the costs associated
with the recall by $79 million, due to the development of a more efficient
service repair procedure, which enables faster repairs and reduced costs.
Consequently, the net effect of these two events will have no material impact on
fourth quarter earnings.
On February 5, 2002, the Company issued a press release announcing 2001
fourth quarter and full-year core earnings of $109 million, or $1.58 per diluted
share, compared with $67 million, or $1.00 per diluted share, in fourth quarter
2000. Net earnings for the quarter were $21 million or 31 cents per share after
accounting for restructuring and product recall charges. Full-year core earnings
were $371 million, or $5.45 per diluted share, compared with $367 million, or
$5.20 per diluted share, in 2000. The core earnings were in line with
expectations. Net earnings for the full year 2001 were $21 million, or 31 cents
per share after accounting for restructuring and product recall charges.
On February 7, 2002, the Company issued a press release concerning stock
market rumors.
Item 7. Financial Statements and Exhibits
Exhibit A - copy of press release dated January 31, 2002 regarding recall
of dehumidifiers.
Exhibit B - copy of press release dated February 5, 2002 regarding fourth
quarter and full-year earnings for 2001.
Exhibit C - copy of press release dated February 7, 2002 concerning stock
market rumors.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
WHIRLPOOL CORPORATION
Registrant
Date: February 8, 2002 By: /s/ Robert T. Kenagy
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Name: Robert T. Kenagy
Title: Corporate Secretary