XML 52 R6.htm IDEA: XBRL DOCUMENT v2.4.1.9
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Cash flows from operating activities    
Net income $ 150,407us-gaap_ProfitLoss $ 158,032us-gaap_ProfitLoss
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 58,641us-gaap_DepreciationDepletionAndAmortization 45,972us-gaap_DepreciationDepletionAndAmortization
Recovery of doubtful accounts (9)us-gaap_ProvisionForDoubtfulAccounts (144)us-gaap_ProvisionForDoubtfulAccounts
Amortization of debt issuance costs 501us-gaap_AmortizationOfFinancingCosts 365us-gaap_AmortizationOfFinancingCosts
Stock-based compensation expense 2,340us-gaap_ShareBasedCompensation 2,222us-gaap_ShareBasedCompensation
Loss from disposition of fixed assets 133us-gaap_GainLossOnDispositionOfAssets 855us-gaap_GainLossOnDispositionOfAssets
Deferred income taxes 5,331us-gaap_DeferredIncomeTaxExpenseBenefit 8,275us-gaap_DeferredIncomeTaxExpenseBenefit
Windfall tax benefits from share-based payment arrangements (1,701)us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities (3,512)us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
Income from equity method investments, net of dividends (3,416)us-gaap_IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions (685)us-gaap_IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
Other (losses) gains, net (554)us-gaap_OtherOperatingActivitiesCashFlowStatement 444us-gaap_OtherOperatingActivitiesCashFlowStatement
Changes in operating assets and liabilities    
Accounts receivable 18,517us-gaap_IncreaseDecreaseInAccountsAndOtherReceivables 5,332us-gaap_IncreaseDecreaseInAccountsAndOtherReceivables
Inventories 35,979us-gaap_IncreaseDecreaseInInventories 32,870us-gaap_IncreaseDecreaseInInventories
Prepaid expenses and other current assets (6,202)wlk_IncreaseDecreaseInPrepaidExpensesAndOtherCurrentAssets (1,478)wlk_IncreaseDecreaseInPrepaidExpensesAndOtherCurrentAssets
Accounts payable (3,625)us-gaap_IncreaseDecreaseInAccountsPayable (29,706)us-gaap_IncreaseDecreaseInAccountsPayable
Accrued liabilities (59,585)us-gaap_IncreaseDecreaseInAccruedLiabilities (4,952)us-gaap_IncreaseDecreaseInAccruedLiabilities
Other, net (6,201)us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet (1,385)us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet
Net cash provided by operating activities 190,556us-gaap_NetCashProvidedByUsedInOperatingActivities 212,505us-gaap_NetCashProvidedByUsedInOperatingActivities
Cash flows from investing activities    
Additions to property, plant and equipment (95,822)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (110,741)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Proceeds from disposition of assets 0us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment 12us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment
Proceeds from sales and maturities of securities 0us-gaap_ProceedsFromSaleAndMaturityOfMarketableSecurities 30,119us-gaap_ProceedsFromSaleAndMaturityOfMarketableSecurities
Purchase of securities 0us-gaap_PaymentsToAcquireInvestments (49,025)us-gaap_PaymentsToAcquireInvestments
Settlements of derivative instruments (833)us-gaap_PaymentsForProceedsFromDerivativeInstrumentInvestingActivities (409)us-gaap_PaymentsForProceedsFromDerivativeInstrumentInvestingActivities
Net cash used for investing activities (96,655)us-gaap_NetCashProvidedByUsedInInvestingActivities (130,044)us-gaap_NetCashProvidedByUsedInInvestingActivities
Cash flows from financing activities    
Dividends paid (21,964)us-gaap_PaymentsOfDividendsCommonStock (16,789)us-gaap_PaymentsOfDividendsCommonStock
Distributions to noncontrolling interests (3,558)us-gaap_PaymentsToMinorityShareholders 0us-gaap_PaymentsToMinorityShareholders
Proceeds from exercise of stock options 157us-gaap_ProceedsFromStockOptionsExercised 2,158us-gaap_ProceedsFromStockOptionsExercised
Repurchase of common stock for treasury (2,000)us-gaap_PaymentsForRepurchaseOfCommonStock  
Windfall tax benefits from share-based payment arrangements 1,701us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities 3,512us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
Net cash provided by financing activities (25,664)us-gaap_NetCashProvidedByUsedInFinancingActivities (11,119)us-gaap_NetCashProvidedByUsedInFinancingActivities
Effect of exchange rate changes on cash and cash equivalents (3,189)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents 0us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents
Net increase in cash and cash equivalents 65,048us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 71,342us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents at beginning of period 880,601us-gaap_CashAndCashEquivalentsAtCarryingValue 461,301us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents at end of period $ 945,649us-gaap_CashAndCashEquivalentsAtCarryingValue $ 532,643us-gaap_CashAndCashEquivalentsAtCarryingValue