Posted: February 4th, 2015

Whirlpool Analysis

Paper, Order, or Assignment Requirements

This portion of the project coincides with Modules 5-10. Complete the following questions for the project company. You should do it in a word document. Do not rearrange the questions in this portion. Answer the questions in the same sequence provided here.

This is a written analysis portion of the project so you should prepare an analysis of each item addressed in the questions. Merely answering the basic question in short answer is not sufficient and will receive an average score. I want to observe critical and analytical thinking. You should answer the questions in your own words. Using large quotes directly from the annual report is not considered analysis. The questions below are suggestions of what to include in your analysis but may not be an all-inclusive listing. You should add to the requested questions as appropriate to the company’s operations.

Disclosure means the Notes to the Financial Statements. Your first resource for responses to the questions in this portion is the Notes to the Financial Statements which is audited information, not the MD&A. Only reference MD&A, or other sources, if you are unable to locate the information in the Notes to the Financial Statements or the questions specifically requests information from MD&A. In your response, reference which note number and the page where you located the information to respond to the each question. If you use a source other than a Note, it should be stated in your response that you were unable to locate the information in the Notes to the Financial Statements and reference the source used.

All questions may not pertain to all companies. If the question does not pertain to the company, note as not applicable with a brief explanation as to why the company would not have the item. Example…Company does not engage in research and development or Company does not operate outside of the US. Reference your research from part one of the project, the company overview and environment research you prepared.

For ratios for which an average is needed, use the year end amount rather than the average. Ratios calculated in this portion of the project also require a written analysis evaluating of the results of the ratios calculated. The ratios should be prepared for the two most current years and the year to year trend should be evaluated. Ratios should also be compared to the industry average if applicable.

Module 9

Does your company report investment securities? If so what type(s) and if applicable what is the amount of unrealized gains and losses?

Does your company report Goodwill? What does your company disclose concerning the treatment of goodwill impairment? Has the company recorded goodwill impairment in the current year?

Briefly discuss what types of other intangible assets your company has and if there have been any impairments recorded in the current year?

Module 10

Does your company report Leases? If so does your company have capital leases? If so, what is the Capital lease obligation?

Does your company report operating leases? If so what does it report for the future minimum lease payments or commitments?

Does your company report a Pension Plan?

If so what type of pension plan does your company report?

If your company has a Defined Benefit Plan:

What is the balance of the pension plan assets at the end of the current year?

What is the balance of the pension obligation at the end of the current year?

Is the plan over or underfunded?

Where and using what account title does the company use to report the plan on the balance sheet?

What is the pension expense for the year?

What amount of pension benefits are expected to be paid over the next 5 years?

Other Disclosures Not Covered Above

Briefly summarize the topic of other type disclosures made by the company not included above; for example, Derivatives, Acquisitions, and Subsequent Events.

Source to use

Whirlpool 10-K 2013- I will upload this one

Financial Statement Analysis & Valuation, 3rd ed.
by Easton, McAnally, Sommers and Zhang