Whirlpool Corporation announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported net sales of $5,656 million compared with $5,560 million for the same period a year ago. Operating profit was $335 million compared with $380 million for the same period a year ago. Earnings before income taxes were $308 million compared with $282 million for the same period a year ago. Net earnings available to company was $180 million or $2.36 per diluted share compared with $180 million or $2.28 per diluted share for the same period a year ago.

For the full year, the company reported net sales of $20,718 million compared with $20,891 million for the same period a year ago. Operating profit was $1,354 million compared with $1,285 million for the same period a year ago. Earnings before income taxes were $1,114 million compared with $1,031 million for the same period a year ago. Net earnings available to company was $888 million or $11.50 per diluted share compared with $783 million or $9.83 per diluted share for the same period a year ago. Cash provided by operating activities was $1,203 million compared with $1,225 million for the same period a year ago. Capital expenditures were $660 million compared with $689 million for the same period a year ago. Free cash flow was $630 million compared to $620 million a year ago.

For the year 2017, the company expects to deliver GAAP earnings per diluted share of $13.25 to $14.25 and ongoing business earnings per diluted share of $15.25 to $16.25 through aggressive cost reduction and leveraging its robust pipeline of innovative new products. The company expects to generate significant free cash flow improvement to approximately $1 billion driven by earnings growth and strong working capital management. For the full-year 2017, the company expects to generate cash from operating activities of $1.7 to $1.75 billion. Included in this guidance are primarily acquisition-related restructuring cash outlays of up to $165 million, legacy product warranty and liability costs of $70 million, pension contributions of $45 million and, with respect to free cash flow, capital spending of $700 to $750 million.