Guarantor Disclosures (Tables)

6 Months Ended

Jun. 30, 2012

Condensed Consolidating Financial Information Balance Sheet

Condensed Consolidating Financial Information as of June 30, 2012

	Westlake Chemical Corporation		Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			Consolidated
Balance Sheet
Current assets
Cash and cash equivalents	$	1,083,192	$	4,691	$	22,655	$	—		$	1,110,538
Accounts receivable, net		27,934		1,652,181		5,759		(1,267,874	)		418,000
Inventories		—		392,643		14,481		—			407,124
Prepaid expenses and other current assets		193		12,458		2,764		—			15,415
Deferred income taxes		430		19,049		214		—			19,693
Total current assets		1,111,749		2,081,022		45,873		(1,267,874	)		1,970,770
Property, plant and equipment, net		—		1,301,589		8,163		—			1,309,752
Equity investments		2,811,361		53,800		33,923		(2,854,269	)		44,815
Restricted cash		20,452		—		—		—			20,452
Other assets, net		17,959		94,815		1,896		(18,521	)		96,149
Total assets	$	3,961,521	$	3,531,226	$	89,855	$	(4,140,664	)	$	3,441,938
Current liabilities
Accounts payable	$	1,246,389	$	190,789	$	12,744	$	(1,241,613	)	$	208,309
Accrued liabilities		9,053		146,419		557		(26,261	)		129,768
Total current liabilities		1,255,442		337,208		13,301		(1,267,874	)		338,077
Long-term debt		753,715		10,889		11,500		(11,500	)		764,604
Deferred income taxes		—		343,299		884		(7,021	)		337,162
Other liabilities		53		49,697		34		—			49,784
Stockholders’ equity		1,952,311		2,790,133		64,136		(2,854,269	)		1,952,311
Total liabilities and stockholders’ equity	$	3,961,521	$	3,531,226	$	89,855	$	(4,140,664	)	$	3,441,938

Condensed Consolidating Financial Information as of December 31, 2011

	Westlake Chemical Corporation		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated
Balance Sheet
Current assets
Cash and cash equivalents	$	803,320	$	2,517	$	20,064	$	—		$	825,901
Accounts receivable, net		—		1,384,705		949		(978,282	)		407,372
Inventories		—		478,229		12,548		—			490,777
Prepaid expenses and other current assets		363		10,332		1,800		—			12,495
Deferred income taxes		430		19,049		132		—			19,611
Total current assets		804,113		1,894,832		35,493		(978,282	)		1,756,156
Property, plant and equipment, net		—		1,223,073		8,993		—			1,232,066
Equity investments		2,597,598		53,912		35,650		(2,640,419	)		46,741
Restricted cash		96,283		—		—		—			96,283
Other assets, net		17,650		132,968		2,467		(17,510	)		135,575
Total assets	$	3,515,644	$	3,304,785	$	82,603	$	(3,636,211	)	$	3,266,821
Current liabilities
Accounts payable	$	1,005,529	$	210,476	$	3,748	$	(992,719	)	$	227,034
Accrued liabilities		76		120,656		2,392		14,437			137,561
Total current liabilities		1,005,605		331,132		6,140		(978,282	)		364,595
Long-term debt		753,674		10,889		11,500		(11,500	)		764,563
Deferred income taxes		—		336,165		636		(6,010	)		330,791
Other liabilities		53		50,458		49		—			50,560
Stockholders’ equity		1,756,312		2,576,141		64,278		(2,640,419	)		1,756,312
Total liabilities and stockholders’ equity	$	3,515,644	$	3,304,785	$	82,603	$	(3,636,211	)	$	3,266,821

Condensed Consolidating Financial Information Statement Of Operations

Condensed Consolidating Financial Information for the Three Months Ended June 30, 2012

	Westlake Chemical Corporation			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Statement of Operations
Net sales	$	—		$	902,684		$	13,435		$	(2,161	)	$	913,958
Cost of sales		—			703,421			10,802			(2,161	)		712,062
Gross profit		—			199,263			2,633			—			201,896
Selling, general and administrative expenses		497			28,933			1,488			—			30,918
(Loss) income from operations		(497	)		170,330			1,145			—			170,978
Interest expense		(11,562	)		(9	)		—			—			(11,571	)
Gain from sales of equity securities		1			15,951			—			—			15,952
Other income (expense), net		3,954			(1,279	)		(1,568	)		—			1,107
(Loss) income before income taxes		(8,104	)		184,993			(423	)		—			176,466
(Benefit from) provision for income taxes		(3,434	)		65,400			(1,001	)		—			60,965
Equity in net income of subsidiaries		120,171			—			—			(120,171	)		—
Net income	$	115,501		$	119,593		$	578		$	(120,171	)	$	115,501
Comprehensive income	$	97,500		$	102,562		$	129		$	(102,691	)	$	97,500

Condensed Consolidating Financial Information for the Three Months Ended June 30, 2011

	Westlake Chemical Corporation			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Statement of Operations
Net sales	$	—		$	914,907		$	11,477		$	(1,335	)	$	925,049
Cost of sales		—			748,539			10,750			(1,335	)		757,954
Gross profit		—			166,368			727			—			167,095
Selling, general and administrative expenses		1,012			26,292			1,422			—			28,726
(Loss) income from operations		(1,012	)		140,076			(695	)		—			138,369
Interest expense		(12,767	)		(35	)		—			—			(12,802	)
Other income (expense), net		1,819			(326	)		139			—			1,632
(Loss) income before income taxes		(11,960	)		139,715			(556	)		—			127,199
(Benefit from) provision for income taxes		(3,831	)		49,911			70			—			46,150
Equity in net income of subsidiaries		89,178			—			—			(89,178	)		—
Net income (loss)	$	81,049		$	89,804		$	(626	)	$	(89,178	)	$	81,049
Comprehensive income (loss)	$	81,126		$	90,090		$	(835	)	$	(89,255	)	$	81,126

Condensed Consolidating Financial Information for the Six Months Ended June 30, 2012

	Westlake Chemical Corporation			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Statement of Operations
Net sales	$	—		$	1,929,016		$	23,278		$	(3,469	)	$	1,948,825
Cost of sales		—			1,558,408			19,353			(3,469	)		1,574,292
Gross profit		—			370,608			3,925			—			374,533
Selling, general and administrative expenses		1,002			53,688			3,240			—			57,930
(Loss) income from operations		(1,002	)		316,920			685			—			316,603
Interest expense		(23,733	)		(15	)		—			—			(23,748	)
Gain from sales of equity securities		1			15,951			—			—			15,952
Other income (expense), net		7,488			(2,978	)		(2,056	)		—			2,454
(Loss) income before income taxes		(17,246	)		329,878			(1,371	)		—			311,261
(Benefit from) provision for income taxes		(6,607	)		115,633			(1,079	)		—			107,947
Equity in net income of subsidiaries		213,953			—			—			(213,953	)		—
Net income (loss)	$	203,314		$	214,245		$	(292	)	$	(213,953	)	$	203,314
Comprehensive income (loss)	$	202,519		$	213,908		$	(229	)	$	(213,679	)	$	202,519

Condensed Consolidating Financial Information for the Six Months Ended June 30, 2011

	Westlake Chemical Corporation			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Statement of Operations
Net sales	$	—		$	1,774,860		$	19,622		$	(2,181	)	$	1,792,301
Cost of sales		—			1,440,781			19,022			(2,181	)		1,457,622
Gross profit		—			334,079			600			—			334,679
Selling, general and administrative expenses		2,024			51,041			2,608			—			55,673
(Loss) income from operations		(2,024	)		283,038			(2,008	)		—			279,006
Interest expense		(25,676	)		(46	)		—			—			(25,722	)
Other income (expense), net		5,015			(3,041	)		865			—			2,839
(Loss) income before income taxes		(22,685	)		279,951			(1,143	)		—			256,123
(Benefit from) provision for income taxes		(7,349	)		99,057			(178	)		—			91,530
Equity in net income of subsidiaries		179,929			—			—			(179,929	)		—
Net income (loss)	$	164,593		$	180,894		$	(965	)	$	(179,929	)	$	164,593
Comprehensive income (loss)	$	165,478		$	181,455		$	(641	)	$	(180,814	)	$	165,478

Condensed Consolidating Financial Information Statement Of Cash Flows

Condensed Consolidating Financial Information for the Six Months Ended June 30, 2012

	Westlake Chemical Corporation			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Statement of Cash Flows
Cash flows from operating activities
Net income (loss)	$	203,314		$	214,245		$	(292	)	$	(213,953	)	$	203,314
Adjustments to reconcile net income (loss) to net cash (used for) provided by operating activities
Depreciation and amortization		801			69,514			1,663			—			71,978
Deferred income taxes		(717	)		7,270			167			—			6,720
Net changes in working capital and other		(213,972	)		45,051			(4,430	)		213,953			40,602
Net cash (used for) provided by operating activities		(10,574	)		336,080			(2,892	)		—			322,614
Cash flows from investing activities
Additions to property, plant and equipment		—			(139,876	)		(692	)		—			(140,568	)
Construction of assets pending sale-leaseback		—			(1,760	)		—			—			(1,760	)
Proceeds from disposition of assets		—			412			3			—			415
Proceeds from repayment of loan to affiliate		—			—			596			—			596
Proceeds from sales of equity securities		3			46,024			—			—			46,027
Purchase of investments		—			(2,961	)		—			—			(2,961	)
Settlements of derivative instruments		—			511			—			—			511
Net cash provided by (used for) investing activities		3			(97,650	)		(93	)		—			(97,740	)
Cash flows from financing activities
Intercompany financing		230,680			(236,256	)		5,576			—			—
Capitalized debt issuance costs		(98	)		—			—			—			(98	)
Dividends paid		(9,838	)		—			—			—			(9,838	)
Proceeds from exercise of stock options		4,508			—			—			—			4,508
Repurchase of common stock for treasury		(10,784	)		—			—			—			(10,784	)
Utilization of restricted cash		75,975			—			—			—			75,975
Net cash provided by (used for) financing activities		290,443			(236,256	)		5,576			—			59,763
Net increase in cash and cash equivalents		279,872			2,174			2,591			—			284,637
Cash and cash equivalents at beginning of period		803,320			2,517			20,064			—			825,901
Cash and cash equivalents at end of period	$	1,083,192		$	4,691		$	22,655		$	—		$	1,110,538

Condensed Consolidating Financial Information for the Six Months Ended June 30, 2011

	Westlake Chemical Corporation			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Statement of Cash Flows
Cash flows from operating activities
Net income (loss)	$	164,593		$	180,894		$	(965	)	$	(179,929	)	$	164,593
Adjustments to reconcile net income (loss) to net cash (used for) provided by operating activities
Depreciation and amortization		863			63,484			1,899			—			66,246
Deferred income taxes		(126	)		16,573			(498	)		—			15,949
Net changes in working capital and other		(179,938	)		(120,387	)		(1,087	)		179,929			(121,483	)
Net cash (used for) provided by operating activities		(14,608	)		140,564			(651	)		—			125,305
Cash flows from investing activities
Additions to property, plant and equipment		—			(68,383	)		(795	)		—			(69,178	)
Proceeds from disposition of assets		—			2,456			—			—			2,456
Proceeds from repayment of loan to affiliate		—			—			596			—			596
Settlements of derivative instruments		—			(222	)		—			—			(222	)
Net cash used for investing activities		—			(66,149	)		(199	)		—			(66,348	)
Cash flows from financing activities
Intercompany financing		73,784			(73,658	)		(126	)		—			—
Dividends paid		(8,446	)		—			—			—			(8,446	)
Proceeds from exercise of stock options		5,323			—			—			—			5,323
Utilization of restricted cash		26,189			—			—			—			26,189
Net cash provided by (used for) financing activities		96,850			(73,658	)		(126	)		—			23,066
Net increase (decrease) in cash and cash equivalents		82,242			757			(976	)		—			82,023
Cash and cash equivalents at beginning of period		611,158			53			19,088			—			630,299
Cash and cash equivalents at end of period	$	693,400		$	810		$	18,112		$	—		$	712,322