惠而浦 2025年度报告

(Mark One) ☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the fiscal year ended December 31, 2025OR WHIRLPOOL CORPORATION Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.Yes☒No☐ Indicate by check mark if the registrant is not required to file reports pursuant to Section13 or Section15(d) of the Exchange Act.Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the Exchange Actduring the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)has beensubject to such filing requirements for the past 90 days. Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period thatthe registrant was required to submit such files). Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smallerreporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act. (Check one) Accelerated filer☐Smaller reporting company☐Emerging growth company☐ Large accelerated filer☒Non-accelerated filer☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revisedfinancial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of theregistrant included in the filing reflect the correction of an error to previously issued financial statements. Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant's executive officers during the relevant recovery period pursuant to §240.10D-1(b). Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). The aggregate market value of voting common stock of the registrant held by stockholders not including voting stock held by directors and executive officers of theregistrant and certain employee plans of the registrant (the exclusion of such shares shall not be deemed an admission by the registrant that any such person is an affiliateof the registrant) at the close of business on June30, 2025 (the last business day of the registrant's most recently completed second fiscal quarter) was $5,409,388,540. On February6, 2026, the registrant had 56,518,699 shares of common stock outstanding. DOCUMENTS INCORPORATED BY REFERENCEPortions of the following documents are incorporated herein by reference into the Part of the Form 10-K indicated: Document Portions of the registrant's proxy statement for the 2026 annual meeting of stockholders (the "ProxyStatement") to be filed pursuant to Regulation 14A within 120 days after the registrant's fiscal year end ofDecember 31, 2025 are incorporated by reference into Part III of this Annual Report on From 10-K. WHIRLPOOL CORPORATIONANNUAL REPORT ON FORM 10-KFor the fiscal year ended December 31, 2025TABLE OF CONTENTS PART I Item1.BusinessItem 1A.Risk FactorsItem 1B.Unresolved Staff CommentsItem 1C.CybersecurityItem 2.PropertiesItem 3.Legal ProceedingsItem 4.Mine Safety Disclosures PART II Item 5.Market for Registrant's Common Equity, Related Stockholder Matters and IssuerPurchases of Equity SecuritiesItem 6.[Reserved]Item 7.Management's Discussion and Analysis of Financial Condition and Results of OperationsItem 7A.Quantitative and Qualitative Disclosures about Market RiskItem 8.Financial Statements and Supplementary DataItem 9.Changes in and Disagreements with Accountants on Accounting and Financial DisclosureItem 9A.Controls and ProceduresItem 9B.Other InformationItem 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections PART III Item 10.Directors, Executive Officers and Corporate Governance110Item 11.Executive Compensation111Item 12.Security Ownership of Certain Beneficial Owners and Management and RelatedStockholder Matters111Item 13.Certain Relationships and Related Transactions, and Director Independence111Item 14.Principal Accountant Fees and Services111 PART IV Item 15.Exhibits, Financial Statement Schedules112Item 16.Form 10-K Summary112 SIGNATURES120 PART I The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made by us or on ourbehalf. Certain statements contained in this annual report, including those within the forward-looking pe