Guarantor Disclosures (Tables)

9 Months Ended

Sep. 30, 2013

Guarantees [Abstract]

Condensed Consolidating Financial Information Balance Sheet

Condensed Consolidating Financial Information as of September 30, 2013

	Westlake Chemical Corporation		Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			Consolidated
Balance Sheet
Current assets
Cash and cash equivalents	$	560,261	$	4,494	$	26,801	$	—		$	591,556
Marketable securities	125,597		—		—		—			125,597
Accounts receivable, net	5,373		694,473		5,489		(272,310		)	433,025
Inventories	—		435,540		16,031		—			451,571
Prepaid expenses and other    current assets	468		15,931		2,410		—			18,809
Deferred income taxes	431		21,744		118		—			22,293
Total current assets	692,130		1,172,182		50,849		(272,310		)	1,642,851
Property, plant and equipment, net	—		1,945,405		7,513		—			1,952,918
Equity investments	2,635,954		98,823		31,634		(2,700,923		)	65,488
Other assets, net	16,969		251,703		506		(6,986		)	262,192
Total assets	$	3,345,053	$	3,468,113	$	90,502	$	(2,980,219	)	$	3,923,449
Current liabilities
Accounts payable	$	311,357	$	220,106	$	4,322	$	(277,718	)	$	258,067
Accrued liabilities	15,679		151,654		1,878		5,408			174,619
Total current liabilities	327,036		371,760		6,200		(272,310		)	432,686
Long-term debt	752,960		10,889		—		—			763,849
Deferred income taxes	—		416,404		748		(6,986		)	410,166
Other liabilities	—		51,640		51		—			51,691
Stockholders' equity	2,265,057		2,617,420		83,503		(2,700,923		)	2,265,057
Total liabilities and stockholders' equity	$	3,345,053	$	3,468,113	$	90,502	$	(2,980,219	)	$	3,923,449

Condensed Consolidating Financial Information as of December 31, 2012

	Westlake Chemical Corporation		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated
Balance Sheet
Current assets
Cash and cash equivalents	$	753,881	$	6,973	$	29,224	$	—		$	790,078
Marketable securities	124,873		—		—		—			124,873
Accounts receivable, net	7,933		1,675,274		2,959		(1,286,007		)	400,159
Inventories	—		385,140		14,158		—			399,298
Prepaid expenses and other    current assets	389		11,386		2,925		—			14,700
Deferred income taxes	431		21,581		293		—			22,305
Total current assets	887,507		2,100,354		49,559		(1,286,007		)	1,751,413
Property, plant and equipment, net	—		1,502,902		7,146		—			1,510,048
Equity investments	3,018,926		65,448		32,923		(3,073,561		)	43,736
Other assets, net	17,033		94,678		1,252		(5,964		)	106,999
Total assets	$	3,923,466	$	3,763,382	$	90,880	$	(4,365,532	)	$	3,412,196
Current liabilities
Accounts payable	$	1,285,530	$	192,443	$	13,969	$	(1,274,892	)	$	217,050
Accrued liabilities	12,808		178,915		852		(11,115		)	181,460
Total current liabilities	1,298,338		371,358		14,821		(1,286,007		)	398,510
Long-term debt	752,872		10,889		—		—			763,761
Deferred income taxes	—		331,320		934		(5,964		)	326,290
Other liabilities	—		51,312		67		—			51,379
Stockholders' equity	1,872,256		2,998,503		75,058		(3,073,561		)	1,872,256
Total liabilities and stockholders' equity	$	3,923,466	$	3,763,382	$	90,880	$	(4,365,532	)	$	3,412,196

Condensed Consolidating Financial Information Statement Of Operations

Condensed Consolidating Financial Information for the Three Months Ended September 30, 2013

	Westlake Chemical Corporation			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Statement of Operations
Net sales	$	—		$	992,413		$	13,337		$	(1,585	)	$	1,004,165
Cost of sales	—			689,388			11,891			(1,585		)	699,694
Gross profit	—			303,025			1,446			—			304,471
Selling, general and administrative    expenses	514			35,714			1,641			—			37,869
(Loss) income from operations	(514		)	267,311			(195		)	—			266,602
Interest expense	(3,292		)	(5		)	—			—			(3,297		)
Other income (expense), net	3,585			(3,821		)	(51		)	—			(287		)
(Loss) income before income taxes	(221		)	263,485			(246		)	—			263,018
(Benefit from) provision for income taxes	(70		)	92,849			(51		)	—			92,728
Equity in net income of subsidiaries	170,441			—			—			(170,441		)	—
Net income (loss)	$	170,290		$	170,636		$	(195	)	$	(170,441	)	$	170,290
Comprehensive income	$	171,095		$	170,764		$	351		$	(171,115	)	$	171,095

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

	Westlake Chemical Corporation			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Statement of Operations
Net sales	$	—		$	809,164		$	13,876		$	(1,865	)	$	821,175
Cost of sales	—			638,892			11,969			(1,865		)	648,996
Gross profit	—			170,272			1,907			—			172,179
Selling, general and administrative    expenses	498			27,601			1,563			—			29,662
(Loss) income from operations	(498		)	142,671			344			—			142,517
Interest expense	(11,919		)	(15		)	—			—			(11,934		)
Debt retirement costs	(7,082		)	—			—			—			(7,082		)
Gain from sales of equity securities	—			477			—			—			477
Other income (expense), net	4,556			(2,744		)	(590		)	—			1,222
(Loss) income before income taxes	(14,943		)	140,389			(246		)	—			125,200
(Benefit from) provision for income taxes	(4,498		)	42,596			138			—			38,236
Equity in net income of subsidiaries	97,409			—			—			(97,409		)	—
Net income (loss)	$	86,964		$	97,793		$	(384	)	$	(97,409	)	$	86,964
Comprehensive income	$	88,666		$	98,109		$	481		$	(98,590	)	$	88,666

Condensed Consolidating Financial Information for the Nine Months Ended September 30, 2013

	Westlake Chemical Corporation			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Statement of Operations
Net sales	$	—		$	2,777,280		$	37,561		$	(6,982	)	$	2,807,859
Cost of sales	—			1,976,131			32,943			(6,982		)	2,002,092
Gross profit	—			801,149			4,618			—			805,767
Selling, general and administrative    expenses	1,576			103,478			4,829			—			109,883
(Loss) income from operations	(1,576		)	697,671			(211		)	—			695,884
Interest expense	(14,882		)	(39		)	—			—			(14,921		)
Other income (expense), net	7,490			(2,473		)	(1,880		)	—			3,137
(Loss) income before income taxes	(8,968		)	695,159			(2,091		)	—			684,100
(Benefit from) provision for income taxes	(3,202		)	248,301			(452		)	—			244,647
Equity in net income of subsidiaries	445,219			—			—			(445,219		)	—
Net income (loss)	$	439,453		$	446,858		$	(1,639	)	$	(445,219	)	$	439,453
Comprehensive income (loss)	$	439,372		$	447,490		$	(2,483	)	$	(445,007	)	$	439,372

Condensed Consolidating Financial Information for the Nine Months Ended September 30, 2012

	Westlake Chemical Corporation			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Statement of Operations
Net sales	$	—		$	2,738,180		$	37,154		$	(5,334	)	$	2,770,000
Cost of sales	—			2,197,300			31,322			(5,334		)	2,223,288
Gross profit	—			540,880			5,832			—			546,712
Selling, general and administrative    expenses	1,500			81,288			4,804			—			87,592
(Loss) income from operations	(1,500		)	459,592			1,028			—			459,120
Interest expense	(35,652		)	(30		)	—			—			(35,682		)
Debt retirement costs	(7,082		)	—			—			—			(7,082		)
Gain from sales of equity securities	1			16,428			—			—			16,429
Other income (expense), net	12,044			(5,724		)	(2,644		)	—			3,676
(Loss) income before income taxes	(32,189		)	470,266			(1,616		)	—			436,461
(Benefit from) provision for income taxes	(11,105		)	158,228			(940		)	—			146,183
Equity in net income of subsidiaries	311,362			—			—			(311,362		)	—
Net income (loss)	$	290,278		$	312,038		$	(676	)	$	(311,362	)	$	290,278
Comprehensive income	$	291,185		$	312,017		$	252		$	(312,269	)	$	291,185

Condensed Consolidating Financial Information Statement Of Cash Flows

Condensed Consolidating Financial Information for the Nine Months Ended September 30, 2013

	Westlake Chemical Corporation			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Statement of Cash Flows
Cash flows from operating activities
Net income (loss)	$	439,453		$	446,858		$	(1,639	)	$	(445,219	)	$	439,453
Adjustments to reconcile net income    (loss) to net cash (used for) provided    by operating activities
Depreciation and amortization	1,094			114,432			1,861			—			117,387
Deferred income taxes	(1,102		)	84,532			13			—			83,443
Net changes in working capital    and other	(458,336		)	(87,330		)	7,664			445,219			(92,783		)
Net cash (used for) provided by    operating activities	(18,891		)	558,492			7,899			—			547,500
Cash flows from investing activities
Acquisition of business	—			(178,309		)	—			—			(178,309		)
Additions to equity investments	—			(23,338		)	—			—			(23,338		)
Additions to property, plant and    equipment	—			(496,027		)	(2,263		)	—			(498,290		)
Construction of assets pending    sale-leaseback	—			(136		)	—			—			(136		)
Proceeds from disposition of assets	—			6			72			—			78
Proceeds from repayment of loan    to affiliate	—			—			167			—			167
Proceeds from sales and maturities of    securities	239,764			—			—			—			239,764
Purchase of securities	(232,286		)	—			—			—			(232,286		)
Settlements of derivative instruments	—			(2,297		)	—			—			(2,297		)
Net cash provided by (used for)    investing activities	7,478			(700,101		)	(2,024		)	—			(694,647		)
Cash flows from financing activities
Intercompany financing	(130,832		)	139,130			(8,298		)	—			—
Dividends paid	(40,204		)	—			—			—			(40,204		)
Proceeds from exercise of stock options	3,182			—			—			—			3,182
Repurchase of common stock for treasury	(19,409		)	—			—			—			(19,409		)
Windfall tax benefits from share-based    payment arrangements	5,056			—			—			—			5,056
Net cash (used for) provided by    financing activities	(182,207		)	139,130			(8,298		)	—			(51,375		)
Net decrease in cash and cash equivalents	(193,620		)	(2,479		)	(2,423		)	—			(198,522		)
Cash and cash equivalents at beginning    of period	753,881			6,973			29,224			—			790,078
Cash and cash equivalents at end of period	$	560,261		$	4,494		$	26,801		$	—		$	591,556

Condensed Consolidating Financial Information for the Nine Months Ended September 30, 2012

	Westlake Chemical Corporation			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Statement of Cash Flows
Cash flows from operating activities
Net income (loss)	$	290,278		$	312,038		$	(676	)	$	(311,362	)	$	290,278
Adjustments to reconcile net income    (loss) to net cash (used for) provided    by operating activities
Depreciation and amortization	1,149			107,191			2,410			—			110,750
Deferred income taxes	(176		)	3,932			629			—			4,385
Net changes in working capital    and other	(317,955		)	95,909			(1,898		)	311,362			87,418
Net cash (used for) provided by    operating activities	(26,704		)	519,070			465			—			492,831
Cash flows from investing activities
Additions to property, plant and    equipment	—			(234,713		)	(750		)	—			(235,463		)
Construction of assets pending    sale-leaseback	—			(5,484		)	—			—			(5,484		)
Proceeds from disposition of assets	—			414			21			—			435
Proceeds from repayment of loan    to affiliate	—			—			763			—			763
Proceeds from sales of equity securities	3			47,652			—			—			47,655
Purchase of securities	—			(2,961		)	—			—			(2,961		)
Settlements of derivative instruments	—			471			—			—			471
Net cash provided by (used for)    investing activities	3			(194,621		)	34			—			(194,584		)
Cash flows from financing activities
Intercompany financing	317,185			(321,273		)	4,088			—			—
Capitalized debt issuance costs	(2,221		)	—			—			—			(2,221		)
Dividends paid	(22,345		)	—			—			—			(22,345		)
Proceeds from borrowings	248,818			—			—			—			248,818
Proceeds from exercise of stock options	6,627			—			—			—			6,627
Repayment of borrowings	(250,000		)	—			—			—			(250,000		)
Repurchase of common stock for treasury	(10,784		)	—			—			—			(10,784		)
Utilization of restricted cash	96,433			—			—			—			96,433
Windfall tax benefits from share-based    payment arrangements	7,792			—			—			—			7,792
Net cash provided by (used for)    financing activities	391,505			(321,273		)	4,088			—			74,320
Net increase in cash and cash equivalents	364,804			3,176			4,587			—			372,567
Cash and cash equivalents at beginning    of period	803,320			2,517			20,064			—			825,901
Cash and cash equivalents at end of period	$	1,168,124		$	5,693		$	24,651		$	—		$	1,198,468