XML 29 R25.htm IDEA: XBRL DOCUMENT v2.4.0.8
Segment Information
 9 Months Ended
Sep. 30, 2014
Segment Reporting [Abstract]  
Segment Information
Segment Information
The Company operates in two principal operating segments: Olefins and Vinyls. These segments are strategic business units that offer a variety of different products. The Company manages each segment separately as each business requires different technology and marketing strategies.
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
 
2014
 
2013
 
2014
 
2013
Net external sales
 
 
 
 
 
 
 
 
Olefins
 
 
 
 
 
 
 
 
Polyethylene
 
$
498,450

 
$
460,105

 
$
1,461,097

 
$
1,294,566

Styrene, feedstock and other
 
204,647

 
219,234

 
663,851

 
590,959

Total Olefins
 
703,097

 
679,339

 
2,124,948

 
1,885,525

Vinyls
 
 
 
 
 
 
 
 
PVC, caustic soda and other
 
416,771

 
212,041

 
776,060

 
612,391

Building products
 
133,359

 
112,785

 
378,471

 
309,943

Total Vinyls
 
550,130

 
324,826

 
1,154,531

 
922,334

 
 
$
1,253,227

 
$
1,004,165

 
$
3,279,479

 
$
2,807,859

 
 
 
 
 
 
 
 
 
Intersegment sales
 
 
 
 
 
 
 
 
Olefins
 
$
26,518

 
$
85,454

 
$
118,153

 
$
230,607

Vinyls
 
355

 
403

 
1,029

 
1,111

 
 
$
26,873

 
$
85,857

 
$
119,182

 
$
231,718

 
 
 
 
 
 
 
 
 
Income (loss) from operations
 
 
 
 
 
 
 
 
Olefins
 
$
259,277

 
$
237,239

 
$
770,267

 
$
585,958

Vinyls
 
59,445

 
39,554

 
76,460

 
136,123

Corporate and other
 
(11,961
)
 
(10,191
)
 
(25,123
)
 
(26,197
)
 
 
$
306,761

 
$
266,602

 
$
821,604

 
$
695,884

 
 
 
 
 
 
 
 
 
Depreciation and amortization
 
 
 
 
 
 
 
 
Olefins
 
$
26,443

 
$
26,515

 
$
79,811

 
$
76,415

Vinyls
 
27,336

 
14,089

 
68,127

 
39,507

Corporate and other
 
141

 
124

 
456

 
372

 
 
$
53,920

 
$
40,728

 
$
148,394

 
$
116,294

 
 
 
 
 
 
 
 
 
Other income (expense), net
 
 
 
 
 
 
 
 
Olefins
 
$
1,609

 
$
728

 
$
4,262

 
$
5,889

Vinyls
 
1,189

 
(742
)
 
942

 
(1,687
)
Corporate and other
 
(5,468
)
 
(273
)
 
(764
)
 
(1,065
)
 
 
$
(2,670
)
 
$
(287
)
 
$
4,440

 
$
3,137

 
 
 
 
 
 
 
 
 
Provision for (benefit from) income taxes
 
 
 
 
 
 
 
 
Olefins
 
$
105,030

 
$
82,553

 
$
282,082

 
$
208,170

Vinyls
 
21,761

 
10,710

 
22,121

 
44,120

Corporate and other
 
(2,342
)
 
(535
)
 
(3,972
)
 
(7,643
)
 
 
$
124,449

 
$
92,728

 
$
300,231

 
$
244,647

 
 
 
 
 
 
 
 
 
Capital expenditures
 
 
 
 
 
 
 
 
Olefins
 
$
48,519

 
$
27,577

 
$
121,041

 
$
105,656

Vinyls
 
44,067

 
172,565

 
187,449

 
391,864

Corporate and other
 
1,685

 
276

 
2,693

 
770

 
 
$
94,271

 
$
200,418

 
$
311,183

 
$
498,290

A reconciliation of total segment income from operations to consolidated income before income taxes is as follows:
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
 
2014
 
2013
 
2014
 
2013
Income from operations
 
$
306,761

 
$
266,602

 
$
821,604

 
$
695,884

Interest expense
 
(9,486
)
 
(3,297
)
 
(28,182
)
 
(14,921
)
Other (expense) income, net
 
(2,670
)
 
(287
)
 
4,440

 
3,137

Income before income taxes
 
$
294,605

 
$
263,018

 
$
797,862

 
$
684,100


 
 
September 30,
2014
 
December 31,
2013
Total assets
 
 
 
 
Olefins
 
$
1,740,878

 
$
1,557,510

Vinyls
 
2,898,250

 
1,740,595

Corporate and other
 
487,155

 
762,804

 
 
$
5,126,283

 
$
4,060,909