<PAGE>
CONFORMED COPY
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
Date of Report (Date of earliest event reported) April 28, 1997
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
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Item 5. Other Events
Multibras S.A. Eletrodomesticos (Multibras) and Empresa Brasileira de
Compressores S.A. (Embraco), Brazilian appliance- and compressor-manufacturing
companies in which Whirlpool Corporation owns minority interests, have submitted
tax-credit claims of 467 million reais, or approximately $440 million (U.S.) at
the current exchange rate, related to a Brazilian government-sponsored export-
incentive program.
The Brazilian companies said the claims represent tax credits they should
have received under program provisions for exports from July 1988 through
December 1996. A Brazilian federal court had previously issued a final decision
in favor of the companies on the merits of a dispute they had with the Brazilian
government. The companies said the court must render a final decision on the
amount, the timing and the payment method of any final award. Multibras and
Embraco could not estimate when a decision will be made.
Whirlpool has not recognized any income relating to the claims involving
sales prior to 1997 because the timing and payment amount of such claims is
uncertain. On an equity basis, Whirlpool owns about 37 percent of Multibras and
50 percent of Embraco.
Item 7 Financial Statements and Exhibits
Exhibit 1
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Copy of a press release dated April 28, 1997 regarding the company's
Brazilian affiliates tax-credit claims.
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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: April 30, 1997 By: /s/ Daniel F. Hopp
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Name: Daniel F. Hopp
Title: Vice President, General
Counsel and Secretary
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Contact: Jim McCluskey
616/923-5998
[email protected]
WHIRLPOOL CORPORATION'S BRAZILIAN AFFILIATES
ANNOUNCE TAX-CREDIT CLAIMS
BENTON HARBOR, Mich. -- April 28, 1997 -- Multibras S.A. Eletrodomesticos
(Multibras) and Empresa Brasileira de Compressores S.A. (Embraco), Brazilian
appliance- and compressor-manufacturing companies in which Whirlpool Corporation
owns minority interests, have submitted tax-credit claims of 467 million reais,
or approximately $440 million (U.S.) at the current exchange rate, related to a
Brazilian government-sponsored export-incentive program.
The Brazilian companies said the claims represent tax credits they should
have received under program provisions for exports from July 1988 through
December 1996. A Brazilian federal court had previously issued a final decision
in favor of the companies on the merits of a dispute they had with the Brazilian
government. The companies said the court must render a final decision on the
amount, the timing and the payment method of any final award. Multibras and
Embraco could not estimate when a decision will be made.
Whirlpool has not recognized any income relating to the claims involving
sales prior to 1997 because the timing and payment amount of such claims is
uncertain. On an equity basis, Whirlpool owns about 37 percent of Multibras and
50 percent of Embraco.
Whirlpool Corporation is the world's leading manufacturer and marketer of
major home appliances. Headquartered in Benton Harbor, the company manufactures
in 13 countries and markets products under 11 major brand names in about 140
countries.
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[LOGO OF Whirlpool Corporation]
Administrative Center, Benton Harbor, Michigan 49022
