Guarantor Disclosures (Tables)

12 Months Ended

Dec. 31, 2013

Condensed Consolidating Financial Information Balance Sheet

Condensed Consolidating Financial Information as of December 31, 2013



	Westlake Chemical Corporation		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated
Balance Sheet
Current assets
Cash and cash equivalents	$	420,948	$	6,227	$	34,126	$	—		$	461,301
Marketable securities	239,388		—		—		—			239,388
Accounts receivable, net	3,879		738,156		2,755		(316,333		)	428,457
Inventories	—		456,306		15,573		—			471,879
Prepaid expenses and other current assets	778		11,312		1,798		—			13,888
Deferred income taxes	441		33,422		306		—			34,169
Total current assets	665,434		1,245,423		54,558		(316,333		)	1,649,082
Property, plant and equipment, net	—		2,081,091		6,923		—			2,088,014
Equity investments	2,815,752		100,326		31,518		(2,880,721		)	66,875
Other assets, net	15,393		246,125		1,199		(5,779		)	256,938
Total assets	$	3,496,579	$	3,672,965	$	94,198	$	(3,202,833	)	$	4,060,909
Current liabilities
Accounts payable	$	316,652	$	223,134	$	10,649	$	(300,822	)	$	249,613
Accrued liabilities	8,334		161,140		1,282		(15,511		)	155,245
Total current liabilities	324,986		384,274		11,931		(316,333		)	404,858
Long-term debt	752,990		10,889		—		—			763,879
Deferred income taxes	—		443,026		729		(5,779		)	437,976
Other liabilities	—		35,533		60		—			35,593
Stockholders' equity	2,418,603		2,799,243		81,478		(2,880,721		)	2,418,603
Total liabilities and stockholders' equity	$	3,496,579	$	3,672,965	$	94,198	$	(3,202,833	)	$	4,060,909

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 Year Ended December 31, 2013



	Westlake Chemical Corporation			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Statement of Operations
Net sales	$	—		$	3,720,110		$	48,016		$	(8,642	)	$	3,759,484
Cost of sales	—			2,623,355			43,333			(8,642		)	2,658,046
Gross profit	—			1,096,755			4,683			—			1,101,438
Selling, general and administrative expenses	2,128			139,662			6,184			—			147,974
(Loss) income from operations	(2,128		)	957,093			(1,501		)	—			953,464
Interest expense	(18,030		)	(52		)	—			—			(18,082		)
Other income (expense), net	11,798			(2,769		)	(2,239		)	—			6,790
(Loss) income before income taxes	(8,360		)	954,272			(3,740		)	—			942,172
(Benefit from) provision for income taxes	(2,031		)	334,619			(841		)	—			331,747
Equity in net income of subsidiaries	616,754			—			—			(616,754		)	—
Net income (loss)	$	610,425		$	619,653		$	(2,899	)	$	(616,754	)	$	610,425
Comprehensive income (loss)	$	618,649		$	629,308		$	(4,506	)	$	(624,802	)	$	618,649

Condensed Consolidating Financial Information for the Year Ended December 31, 2012



	Westlake Chemical Corporation			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Statement of Operations
Net sales	$	—		$	3,529,685		$	48,205		$	(6,849	)	$	3,571,041
Cost of sales	—			2,799,537			41,393			(6,849		)	2,834,081
Gross profit	—			730,148			6,812			—			736,960
Selling, general and administrative expenses	2,004			113,133			6,472			—			121,609
(Loss) income from operations	(2,004		)	617,015			340			—			615,351
Interest expense	(42,989		)	(60		)	—			—			(43,049		)
Debt retirement costs	(7,082		)	—			—			—			(7,082		)
Gain from sales of equity securities	1			16,428			—			—			16,429
Other income (expense), net	28,171			(21,384		)	(3,267		)	—			3,520
(Loss) income before income taxes	(23,903		)	611,999			(2,927		)	—			585,169
Provision for (benefit from) income taxes	1,825			199,057			(1,268		)	—			199,614
Equity in net income of subsidiaries	411,283			—			—			(411,283		)	—
Net income (loss)	$	385,555		$	412,942		$	(1,659	)	$	(411,283	)	$	385,555
Comprehensive income (loss)	$	383,785		$	410,549		$	(1,036	)	$	(409,513	)	$	383,785

Condensed Consolidating Financial Information for the Year Ended December 31, 2011



	Westlake Chemical Corporation			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Statement of Operations
Net sales	$	—		$	3,581,470		$	42,202		$	(3,824	)	$	3,619,848
Cost of sales	—			3,024,419			40,247			(3,824		)	3,060,842
Gross profit	—			557,051			1,955			—			559,006
Selling, general and administrative expenses	3,762			102,989			5,459			—			112,210
(Loss) income from operations	(3,762		)	454,062			(3,504		)	—			446,796
Interest expense	(50,919		)	(73		)	—			—			(50,992		)
Other income (expense), net	10,217			(4,212		)	(377		)	—			5,628
(Loss) income before income taxes	(44,464		)	449,777			(3,881		)	—			401,432
(Benefit from) provision for income taxes	(11,835		)	155,313			(1,012		)	—			142,466
Equity in net income of subsidiaries	291,595			—			—			(291,595		)	—
Net income (loss)	$	258,966		$	294,464		$	(2,869	)	$	(291,595	)	$	258,966
Comprehensive income (loss)	$	256,929		$	292,834		$	(3,276	)	$	(289,558	)	$	256,929

Condensed Consolidating Financial Information Statement Of Cash Flows

Condensed Consolidating Financial Information for the Year Ended December 31, 2013



	Westlake Chemical Corporation			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Statement of Cash Flows
Cash flows from operating activities
Net income (loss)	$	610,425		$	619,653		$	(2,899	)	$	(616,754	)	$	610,425
Adjustments to reconcile net income (loss) to net cash (used for) provided by operating activities
Depreciation and amortization	1,459			155,360			2,448			—			159,267
Deferred income taxes	74			93,841			(183		)	—			93,732
Net changes in working capital and other	(622,194		)	(115,041		)	9,786			616,754			(110,695		)
Net cash (used for) provided by operating activities	(10,236		)	753,813			9,152			—			752,729
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	—			(676,668		)	(2,554		)	—			(679,222		)
Construction of assets pending sale-leaseback	—			(136		)	—			—			(136		)
Proceeds from disposition of assets	—			75			76			—			151
Proceeds from repayment of loan to affiliate	—			—			167			—			167
Proceeds from sales and maturities of securities	252,519			—			—			—			252,519
Purchase of securities	(367,150		)	—			—			—			(367,150		)
Settlements of derivative instruments	—			(6,920		)	—			—			(6,920		)
Net cash used for investing activities	(114,631		)	(885,296		)	(2,311		)	—			(1,002,238		)
Cash flows from financing activities
Intercompany financing	(128,798		)	130,737			(1,939		)	—			—
Dividends paid	(55,236		)	—			—			—			(55,236		)
Proceeds from exercise of stock options	3,437			—			—			—			3,437
Repurchase of common stock for treasury	(32,918		)	—			—			—			(32,918		)
Windfall tax benefits from share-based payment arrangements	5,449			—			—			—			5,449
Net cash (used for) provided by financing activities	(208,066		)	130,737			(1,939		)	—			(79,268		)
Net (decrease) increase in cash and cash equivalents	(332,933		)	(746		)	4,902			—			(328,777		)
Cash and cash equivalents at beginning of the year	753,881			6,973			29,224			—			790,078
Cash and cash equivalents at end of the year	$	420,948		$	6,227		$	34,126		$	—		$	461,301

Condensed Consolidating Financial Information for the Year Ended December 31, 2012



	Westlake Chemical Corporation			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Statement of Cash Flows
Cash flows from operating activities
Net income (loss)	$	385,555		$	412,942		$	(1,659	)	$	(411,283	)	$	385,555
Adjustments to reconcile net income (loss) to net cash (used for) provided by operating activities
Depreciation and amortization	1,514			141,388			3,153			—			146,055
Deferred income taxes	45			(5,962		)	124			—			(5,793		)
Net changes in working capital and other	(422,199		)	94,930			2,256			411,283			86,270
Net cash (used for) provided by operating activities	(35,085		)	643,298			3,874			—			612,087
Cash flows from investing activities
Additions to property, plant and equipment	—			(385,919		)	(963		)	—			(386,882		)
Construction of assets pending sale-leaseback	—			(4,308		)	—			—			(4,308		)
Proceeds from disposition of assets	—			449			22			—			471
Proceeds from repayment of loan to affiliate	—			—			1,192			—			1,192
Proceeds from sale-leaseback of assets	—			2,304			—			—			2,304
Proceeds from sales of equity securities	3			47,652			—			—			47,655
Purchase of securities	(124,873		)	(2,961		)	—			—			(127,834		)
Settlements of derivative instruments	—			431			—			—			431
Net cash (used for) provided by investing activities	(124,870		)	(342,352		)	251			—			(466,971		)
Cash flows from financing activities
Intercompany financing	291,455			(296,490		)	5,035			—			—
Capitalized debt issuance costs	(2,221		)	—			—			—			(2,221		)
Dividends paid	(285,521		)	—			—			—			(285,521		)
Proceeds from debt issuance	248,818			—			—			—			248,818
Proceeds from exercise of stock options	10,369			—			—			—			10,369
Repayment of debt	(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	11,967			—			—			—			11,967
Net cash provided by (used for) financing activities	110,516			(296,490		)	5,035			—			(180,939		)
Net (decrease) increase in cash and cash equivalents	(49,439		)	4,456			9,160			—			(35,823		)
Cash and cash equivalents at beginning of the year	803,320			2,517			20,064			—			825,901
Cash and cash equivalents at end of the year	$	753,881		$	6,973		$	29,224		$	—		$	790,078

Condensed Consolidating Financial Information for the Year Ended December 31, 2011



	Westlake Chemical Corporation			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Statement of Cash Flows
Cash flows from operating activities
Net income (loss)	$	258,966		$	294,464		$	(2,869	)	$	(291,595	)	$	258,966
Adjustments to reconcile net income (loss) to net cash (used for) provided by operating activities
Depreciation and amortization	1,683			127,807			3,590			—			133,080
Deferred income taxes	190			14,225			(301		)	—			14,114
Net changes in working capital and other	(295,027		)	(45,667		)	1,874			291,595			(47,225		)
Net cash (used for) provided by operating activities	(34,188		)	390,829			2,294			—			358,935
Cash flows from investing activities
Additions to property, plant and equipment	—			(175,706		)	(1,137		)	—			(176,843		)
Proceeds from disposition of assets	—			2,877			3			—			2,880
Proceeds from repayment of loan to affiliate	—			—			1,192			—			1,192
Purchase of securities and other investments	—			(30,265		)	—			—			(30,265		)
Settlements of derivative instruments	—			251			—			—			251
Net cash (used for) provided by investing activities	—			(202,843		)	58			—			(202,785		)
Cash flows from financing activities
Intercompany financing	186,898			(185,522		)	(1,376		)	—			—
Capitalized debt issuance costs	(2,697		)	—			—			—			(2,697		)
Dividends paid	(18,265		)	—			—			—			(18,265		)
Proceeds from exercise of stock options	5,344			—			—			—			5,344
Repurchase of common stock for treasury	(2,518		)	—			—			—			(2,518		)
Utilization of restricted cash	54,227			—			—			—			54,227
Windfall tax benefits from share-based payment arrangements	3,361			—			—			—			3,361
Net cash provided by (used for) financing activities	226,350			(185,522		)	(1,376		)	—			39,452
Net increase in cash and cash equivalents	192,162			2,464			976			—			195,602
Cash and cash equivalents at beginning of the year	611,158			53			19,088			—			630,299
Cash and cash equivalents at end of the year	$	803,320		$	2,517		$	20,064		$	—		$	825,901