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Guarantor Disclosures (Tables)
9 Months Ended
Sep. 30, 2015
Guarantees [Abstract]  
Condensed Consolidating Financial Information Balance Sheet
Condensed Consolidating Financial Information as of September 30, 2015
 
 
Westlake
Chemical
Corporation
 
100% Owned
Guarantor
Subsidiaries
 
OpCo
(Less Than
100% Owned
Guarantor
Subsidiary)
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Balance Sheet
 
 
 
 
 
 
 
 
 
 
 
 
Current assets
 
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
647,646

 
$
5,445

 
$
149,482

 
$
159,352

 
$

 
$
961,925

Marketable securities
 
285,726

 

 

 

 

 
285,726

Accounts receivable, net
 
9,371

 
2,165,248

 
58,514

 
135,837

 
(1,848,010
)
 
520,960

Inventories
 

 
333,553

 
3,272

 
93,181

 

 
430,006

Prepaid expenses and other current assets
 
1,355

 
15,244

 
382

 
3,576

 
(2,285
)
 
18,272

Deferred income taxes
 
441

 
30,529

 

 
647

 
(76
)
 
31,541

Total current assets
 
944,539

 
2,550,019

 
211,650

 
392,593

 
(1,850,371
)
 
2,248,430

Property, plant and equipment, net
 

 
1,533,456

 
962,221

 
420,953

 

 
2,916,630

Equity investments
 
4,879,268

 
1,204,734

 

 
468,760

 
(6,543,169
)
 
9,593

Other assets, net
 
17,541

 
353,506

 
46,542

 
133,196

 
(201,033
)
 
349,752

Total assets
 
$
5,841,348

 
$
5,641,715

 
$
1,220,413

 
$
1,415,502

 
$
(8,594,573
)
 
$
5,524,405

Current liabilities
 
 
 
 
 
 
 
 
 
 
 
 
Accounts and notes payable
 
$
1,847,047

 
$
131,438

 
$
33,476

 
$
80,685

 
$
(1,847,874
)
 
$
244,772

Accrued liabilities
 
16,105

 
168,569

 
21,055

 
86,883

 
(2,497
)
 
290,115

Total current liabilities
 
1,863,152

 
300,007

 
54,531

 
167,568

 
(1,850,371
)
 
534,887

Long-term debt
 
753,197

 
10,889

 
195,154

 

 
(195,154
)
 
764,086

Deferred income taxes
 

 
503,102

 
1,489

 
36,112

 
(5,879
)
 
534,824

Other liabilities
 

 
49,174

 

 
121,596

 

 
170,770

Total liabilities
 
2,616,349

 
863,172

 
251,174

 
325,276

 
(2,051,404
)
 
2,004,567

Total Westlake Chemical Corporation stockholders' equity
 
3,224,999

 
4,778,543

 
969,239

 
795,387

 
(6,543,169
)
 
3,224,999

Noncontrolling interests
 

 

 

 
294,839

 

 
294,839

Total equity
 
3,224,999

 
4,778,543

 
969,239

 
1,090,226

 
(6,543,169
)
 
3,519,838

Total liabilities and equity
 
$
5,841,348

 
$
5,641,715

 
$
1,220,413

 
$
1,415,502

 
$
(8,594,573
)
 
$
5,524,405

Condensed Consolidating Financial Information as of December 31, 2014
 
 
Westlake
Chemical
Corporation
 
100% Owned
Guarantor
Subsidiaries
 
OpCo
(Less Than
100% Owned
Guarantor
Subsidiary)
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Balance Sheet
 
 
 
 
 
 
 
 
 
 
 
 
Current assets
 
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
655,947

 
$
3,057

 
$
131,545

 
$
90,052

 
$

 
$
880,601

Accounts receivable, net
 
8,451

 
1,454,709

 
56,049

 
135,133

 
(1,093,676
)
 
560,666

Inventories
 

 
414,975

 
6,634

 
104,167

 

 
525,776

Prepaid expenses and other current assets
 
172

 
9,485

 
212

 
1,938

 

 
11,807

Deferred income taxes
 
409

 
29,832

 

 
2,196

 

 
32,437

Total current assets
 
664,979

 
1,912,058

 
194,440

 
333,486

 
(1,093,676
)
 
2,011,287

Property, plant and equipment, net
 

 
1,477,515

 
842,057

 
437,985

 

 
2,757,557

Equity investments
 
4,033,378

 
1,237,080

 

 
352,550

 
(5,561,703
)
 
61,305

Other assets, net
 
30,543

 
387,325

 
57,733

 
141,948

 
(233,708
)
 
383,841

Total assets
 
$
4,728,900

 
$
5,013,978

 
$
1,094,230

 
$
1,265,969

 
$
(6,889,087
)
 
$
5,213,990

Current liabilities
 
 
 
 
 
 
 
 
 
 
 
 
Accounts payable
 
$
1,055,527

 
$
160,834

 
$
17,680

 
$
95,856

 
$
(1,068,835
)
 
$
261,062

Accrued liabilities
 
8,754

 
203,608

 
11,225

 
77,372

 
(24,841
)
 
276,118

Total current liabilities
 
1,064,281

 
364,442

 
28,905

 
173,228

 
(1,093,676
)
 
537,180

Long-term debt
 
753,108

 
10,889

 
227,638

 

 
(227,638
)
 
763,997

Deferred income taxes
 

 
497,919

 
1,848

 
42,369

 
(6,070
)
 
536,066

Other liabilities
 

 
43,452

 

 
131,407

 

 
174,859

Total liabilities
 
1,817,389

 
916,702

 
258,391

 
347,004

 
(1,327,384
)
 
2,012,102

Total Westlake Chemical Corporation stockholders' equity
 
2,911,511

 
4,097,276

 
835,839

 
628,588

 
(5,561,703
)
 
2,911,511

Noncontrolling interests
 

 

 

 
290,377

 

 
290,377

Total equity
 
2,911,511

 
4,097,276

 
835,839

 
918,965

 
(5,561,703
)
 
3,201,888

Total liabilities and equity
 
$
4,728,900

 
$
5,013,978

 
$
1,094,230

 
$
1,265,969

 
$
(6,889,087
)
 
$
5,213,990

Condensed Consolidating Financial Information Statement Of Operations
Condensed Consolidating Financial Information for the Three Months Ended September 30, 2015
 
 
Westlake
Chemical
Corporation
 
100% Owned
Guarantor
Subsidiaries
 
OpCo
(Less Than
100% Owned
Guarantor
Subsidiary)
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Statement of Operations
 
 
 
 
 
 
 
 
 
 
 
 
Net sales
 
$

 
$
961,036

 
$
248,619

 
$
288,211

 
$
(309,829
)
 
$
1,188,037

Cost of sales
 

 
774,726

 
154,474

 
252,618

 
(305,057
)
 
876,761

Gross profit
 

 
186,310

 
94,145

 
35,593

 
(4,772
)
 
311,276

Selling, general and administrative expenses
 
804

 
41,429

 
4,941

 
14,846

 
(4,772
)
 
57,248

(Loss) income from operations
 
(804
)
 
144,881

 
89,204

 
20,747

 

 
254,028

Interest expense
 
(10,405
)
 
(3
)
 
(217
)
 
(95
)
 
2,509

 
(8,211
)
Other income (expense), net
 
1,239

 
3,971

 
(124
)
 
59

 
(2,509
)
 
2,636

(Loss) income before income taxes
 
(9,970
)
 
148,849

 
88,863

 
20,711

 

 
248,453

(Benefit from) provision for income taxes
 
(3,249
)
 
56,372

 
141

 
6,769

 

 
60,033

Equity in net income of subsidiaries
 
190,325

 
76,945

 

 
11,777

 
(279,047
)
 

Net income
 
183,604

 
169,422

 
88,722

 
25,719

 
(279,047
)
 
188,420

Net income attributable to noncontrolling interests
 

 

 

 
4,816

 

 
4,816

Net income attributable to Westlake Chemical Corporation
 
$
183,604

 
$
169,422

 
$
88,722

 
$
20,903

 
$
(279,047
)
 
$
183,604

Comprehensive income attributable to
   Westlake Chemical Corporation
 
$
181,663

 
$
169,673

 
$
88,722

 
$
19,170

 
$
(277,565
)
 
$
181,663


Condensed Consolidating Financial Information for the Three Months Ended September 30, 2014
 
 
Westlake
Chemical
Corporation
 
100% Owned
Guarantor
Subsidiaries
 
OpCo
(Less Than
100% Owned
Guarantor
Subsidiary)
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Statement of Operations
 
 
 
 
 
 
 
 
 
 
 
 
Net sales
 
$

 
$
1,026,282

 
$
392,008

 
$
208,313

 
$
(373,376
)
 
$
1,253,227

Cost of sales
 

 
831,675

 
227,015

 
202,110

 
(369,093
)
 
891,707

Gross profit
 

 
194,607

 
164,993

 
6,203

 
(4,283
)
 
361,520

Selling, general and administrative expenses
 
399

 
36,445

 
8,014

 
14,184

 
(4,283
)
 
54,759

(Loss) income from operations
 
(399
)
 
158,162

 
156,979

 
(7,981
)
 

 
306,761

Interest expense
 
(10,343
)
 
(2
)
 
(2,137
)
 
(39
)
 
3,035

 
(9,486
)
Other income (expense), net
 
2,138

 
(2,942
)
 
486

 
683

 
(3,035
)
 
(2,670
)
(Loss) income before income taxes
 
(8,604
)
 
155,218

 
155,328

 
(7,337
)
 

 
294,605

(Benefit from) provision for income taxes
 
(3,088
)
 
93,366

 
36,309

 
(2,138
)
 

 
124,449

Equity in net income of subsidiaries
 
173,273

 
113,157

 

 
5,862

 
(292,292
)
 

Net income
 
167,757

 
175,009

 
119,019

 
663

 
(292,292
)
 
170,156

Net income attributable to noncontrolling interests
 

 

 

 
2,399

 

 
2,399

Net income (loss) attributable to Westlake Chemical Corporation
 
$
167,757

 
$
175,009

 
$
119,019

 
$
(1,736
)
 
$
(292,292
)
 
$
167,757

Comprehensive income (loss) attributable to
   Westlake Chemical Corporation
 
$
131,456

 
$
175,137

 
$
119,019

 
$
(39,528
)
 
$
(254,628
)
 
$
131,456

Condensed Consolidating Financial Information Statement Of Cash Flows
Condensed Consolidating Financial Information as of September 30, 2015
 
 
Westlake
Chemical
Corporation
 
100% Owned
Guarantor
Subsidiaries
 
OpCo
(Less Than
100% Owned
Guarantor
Subsidiary)
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Balance Sheet
 
 
 
 
 
 
 
 
 
 
 
 
Current assets
 
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
647,646

 
$
5,445

 
$
149,482

 
$
159,352

 
$

 
$
961,925

Marketable securities
 
285,726

 

 

 

 

 
285,726

Accounts receivable, net
 
9,371

 
2,165,248

 
58,514

 
135,837

 
(1,848,010
)
 
520,960

Inventories
 

 
333,553

 
3,272

 
93,181

 

 
430,006

Prepaid expenses and other current assets
 
1,355

 
15,244

 
382

 
3,576

 
(2,285
)
 
18,272

Deferred income taxes
 
441

 
30,529

 

 
647

 
(76
)
 
31,541

Total current assets
 
944,539

 
2,550,019

 
211,650

 
392,593

 
(1,850,371
)
 
2,248,430

Property, plant and equipment, net
 

 
1,533,456

 
962,221

 
420,953

 

 
2,916,630

Equity investments
 
4,879,268

 
1,204,734

 

 
468,760

 
(6,543,169
)
 
9,593

Other assets, net
 
17,541

 
353,506

 
46,542

 
133,196

 
(201,033
)
 
349,752

Total assets
 
$
5,841,348

 
$
5,641,715

 
$
1,220,413

 
$
1,415,502

 
$
(8,594,573
)
 
$
5,524,405

Current liabilities
 
 
 
 
 
 
 
 
 
 
 
 
Accounts and notes payable
 
$
1,847,047

 
$
131,438

 
$
33,476

 
$
80,685

 
$
(1,847,874
)
 
$
244,772

Accrued liabilities
 
16,105

 
168,569

 
21,055

 
86,883

 
(2,497
)
 
290,115

Total current liabilities
 
1,863,152

 
300,007

 
54,531

 
167,568

 
(1,850,371
)
 
534,887

Long-term debt
 
753,197

 
10,889

 
195,154

 

 
(195,154
)
 
764,086

Deferred income taxes
 

 
503,102

 
1,489

 
36,112

 
(5,879
)
 
534,824

Other liabilities
 

 
49,174

 

 
121,596

 

 
170,770

Total liabilities
 
2,616,349

 
863,172

 
251,174

 
325,276

 
(2,051,404
)
 
2,004,567

Total Westlake Chemical Corporation stockholders' equity
 
3,224,999

 
4,778,543

 
969,239

 
795,387

 
(6,543,169
)
 
3,224,999

Noncontrolling interests
 

 

 

 
294,839

 

 
294,839

Total equity
 
3,224,999

 
4,778,543

 
969,239

 
1,090,226

 
(6,543,169
)
 
3,519,838

Total liabilities and equity
 
$
5,841,348

 
$
5,641,715

 
$
1,220,413

 
$
1,415,502

 
$
(8,594,573
)
 
$
5,524,405

Condensed Consolidating Financial Information as of December 31, 2014
 
 
Westlake
Chemical
Corporation
 
100% Owned
Guarantor
Subsidiaries
 
OpCo
(Less Than
100% Owned
Guarantor
Subsidiary)
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Balance Sheet
 
 
 
 
 
 
 
 
 
 
 
 
Current assets
 
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
655,947

 
$
3,057

 
$
131,545

 
$
90,052

 
$

 
$
880,601

Accounts receivable, net
 
8,451

 
1,454,709

 
56,049

 
135,133

 
(1,093,676
)
 
560,666

Inventories
 

 
414,975

 
6,634

 
104,167

 

 
525,776

Prepaid expenses and other current assets
 
172

 
9,485

 
212

 
1,938

 

 
11,807

Deferred income taxes
 
409

 
29,832

 

 
2,196

 

 
32,437

Total current assets
 
664,979

 
1,912,058

 
194,440

 
333,486

 
(1,093,676
)
 
2,011,287

Property, plant and equipment, net
 

 
1,477,515

 
842,057

 
437,985

 

 
2,757,557

Equity investments
 
4,033,378

 
1,237,080

 

 
352,550

 
(5,561,703
)
 
61,305

Other assets, net
 
30,543

 
387,325

 
57,733

 
141,948

 
(233,708
)
 
383,841

Total assets
 
$
4,728,900

 
$
5,013,978

 
$
1,094,230

 
$
1,265,969

 
$
(6,889,087
)
 
$
5,213,990

Current liabilities
 
 
 
 
 
 
 
 
 
 
 
 
Accounts payable
 
$
1,055,527

 
$
160,834

 
$
17,680

 
$
95,856

 
$
(1,068,835
)
 
$
261,062

Accrued liabilities
 
8,754

 
203,608

 
11,225

 
77,372

 
(24,841
)
 
276,118

Total current liabilities
 
1,064,281

 
364,442

 
28,905

 
173,228

 
(1,093,676
)
 
537,180

Long-term debt
 
753,108

 
10,889

 
227,638

 

 
(227,638
)
 
763,997

Deferred income taxes
 

 
497,919

 
1,848

 
42,369

 
(6,070
)
 
536,066

Other liabilities
 

 
43,452

 

 
131,407

 

 
174,859

Total liabilities
 
1,817,389

 
916,702

 
258,391

 
347,004

 
(1,327,384
)
 
2,012,102

Total Westlake Chemical Corporation stockholders' equity
 
2,911,511

 
4,097,276

 
835,839

 
628,588

 
(5,561,703
)
 
2,911,511

Noncontrolling interests
 

 

 

 
290,377

 

 
290,377

Total equity
 
2,911,511

 
4,097,276

 
835,839

 
918,965

 
(5,561,703
)
 
3,201,888

Total liabilities and equity
 
$
4,728,900

 
$
5,013,978

 
$
1,094,230

 
$
1,265,969

 
$
(6,889,087
)
 
$
5,213,990



Condensed Consolidating Financial Information for the Three Months Ended September 30, 2015
 
 
Westlake
Chemical
Corporation
 
100% Owned
Guarantor
Subsidiaries
 
OpCo
(Less Than
100% Owned
Guarantor
Subsidiary)
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Statement of Operations
 
 
 
 
 
 
 
 
 
 
 
 
Net sales
 
$

 
$
961,036

 
$
248,619

 
$
288,211

 
$
(309,829
)
 
$
1,188,037

Cost of sales
 

 
774,726

 
154,474

 
252,618

 
(305,057
)
 
876,761

Gross profit
 

 
186,310

 
94,145

 
35,593

 
(4,772
)
 
311,276

Selling, general and administrative expenses
 
804

 
41,429

 
4,941

 
14,846

 
(4,772
)
 
57,248

(Loss) income from operations
 
(804
)
 
144,881

 
89,204

 
20,747

 

 
254,028

Interest expense
 
(10,405
)
 
(3
)
 
(217
)
 
(95
)
 
2,509

 
(8,211
)
Other income (expense), net
 
1,239

 
3,971

 
(124
)
 
59

 
(2,509
)
 
2,636

(Loss) income before income taxes
 
(9,970
)
 
148,849

 
88,863

 
20,711

 

 
248,453

(Benefit from) provision for income taxes
 
(3,249
)
 
56,372

 
141

 
6,769

 

 
60,033

Equity in net income of subsidiaries
 
190,325

 
76,945

 

 
11,777

 
(279,047
)
 

Net income
 
183,604

 
169,422

 
88,722

 
25,719

 
(279,047
)
 
188,420

Net income attributable to noncontrolling interests
 

 

 

 
4,816

 

 
4,816

Net income attributable to Westlake Chemical Corporation
 
$
183,604

 
$
169,422

 
$
88,722

 
$
20,903

 
$
(279,047
)
 
$
183,604

Comprehensive income attributable to
   Westlake Chemical Corporation
 
$
181,663

 
$
169,673

 
$
88,722

 
$
19,170

 
$
(277,565
)
 
$
181,663


Condensed Consolidating Financial Information for the Three Months Ended September 30, 2014
 
 
Westlake
Chemical
Corporation
 
100% Owned
Guarantor
Subsidiaries
 
OpCo
(Less Than
100% Owned
Guarantor
Subsidiary)
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Statement of Operations
 
 
 
 
 
 
 
 
 
 
 
 
Net sales
 
$

 
$
1,026,282

 
$
392,008

 
$
208,313

 
$
(373,376
)
 
$
1,253,227

Cost of sales
 

 
831,675

 
227,015

 
202,110

 
(369,093
)
 
891,707

Gross profit
 

 
194,607

 
164,993

 
6,203

 
(4,283
)
 
361,520

Selling, general and administrative expenses
 
399

 
36,445

 
8,014

 
14,184

 
(4,283
)
 
54,759

(Loss) income from operations
 
(399
)
 
158,162

 
156,979

 
(7,981
)
 

 
306,761

Interest expense
 
(10,343
)
 
(2
)
 
(2,137
)
 
(39
)
 
3,035

 
(9,486
)
Other income (expense), net
 
2,138

 
(2,942
)
 
486

 
683

 
(3,035
)
 
(2,670
)
(Loss) income before income taxes
 
(8,604
)
 
155,218

 
155,328

 
(7,337
)
 

 
294,605

(Benefit from) provision for income taxes
 
(3,088
)
 
93,366

 
36,309

 
(2,138
)
 

 
124,449

Equity in net income of subsidiaries
 
173,273

 
113,157

 

 
5,862

 
(292,292
)
 

Net income
 
167,757

 
175,009

 
119,019

 
663

 
(292,292
)
 
170,156

Net income attributable to noncontrolling interests
 

 

 

 
2,399

 

 
2,399

Net income (loss) attributable to Westlake Chemical Corporation
 
$
167,757

 
$
175,009

 
$
119,019

 
$
(1,736
)
 
$
(292,292
)
 
$
167,757

Comprehensive income (loss) attributable to
   Westlake Chemical Corporation
 
$
131,456

 
$
175,137

 
$
119,019

 
$
(39,528
)
 
$
(254,628
)
 
$
131,456



Condensed Consolidating Financial Information for the Nine Months Ended September 30, 2015
 
 
Westlake
Chemical
Corporation
 
100% Owned
Guarantor
Subsidiaries
 
OpCo
(Less Than
100% Owned
Guarantor
Subsidiary)
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Statement of Operations
 
 
 
 
 
 
 
 
 
 
 
 
Net sales
 
$

 
$
2,862,400

 
$
758,715

 
$
784,219

 
$
(928,764
)
 
$
3,476,570

Cost of sales
 

 
2,260,454

 
473,815

 
707,171

 
(913,873
)
 
2,527,567

Gross profit
 

 
601,946

 
284,900

 
77,048

 
(14,891
)
 
949,003

Selling, general and administrative expenses
 
1,617

 
127,794

 
15,178

 
40,623

 
(14,891
)
 
170,321

(Loss) income from operations
 
(1,617
)
 
474,152

 
269,722

 
36,425

 

 
778,682

Interest expense
 
(31,726
)
 
(8
)
 
(2,449
)
 
(190
)
 
7,613

 
(26,760
)
Other income (expense), net
 
17,627

 
(2,574
)
 
(85
)
 
26,435

 
(7,613
)
 
33,790

(Loss) income before income taxes
 
(15,716
)
 
471,570

 
267,188

 
62,670

 

 
785,712

(Benefit from) provision for income taxes
 
(5,226
)
 
231,542

 
567

 
9,941

 

 
236,824

Equity in net income of subsidiaries
 
545,531

 
233,635

 

 
32,986

 
(812,152
)
 

Net income
 
535,041

 
473,663

 
266,621

 
85,715

 
(812,152
)
 
548,888

Net income attributable to noncontrolling interests
 

 

 

 
13,847

 

 
13,847

Net income attributable to Westlake Chemical Corporation
 
$
535,041

 
$
473,663

 
$
266,621

 
$
71,868

 
$
(812,152
)
 
$
535,041

Comprehensive income attributable to
   Westlake Chemical Corporation
 
$
492,609

 
$
474,292

 
$
266,621

 
$
28,683

 
$
(769,596
)
 
$
492,609


Condensed Consolidating Financial Information for the Nine Months Ended September 30, 2014
 
 
Westlake
Chemical
Corporation
 
100% Owned
Guarantor
Subsidiaries
 
OpCo
(Less Than
100% Owned
Guarantor
Subsidiary)
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Statement of Operations
 
 
 
 
 
 
 
 
 
 
 
 
Net sales
 
$

 
$
2,809,844

 
$
1,476,157

 
$
229,183

 
$
(1,235,705
)
 
$
3,279,479

Cost of sales
 

 
2,476,608

 
832,304

 
221,233

 
(1,205,167
)
 
2,324,978

Gross profit
 

 
333,236

 
643,853

 
7,950

 
(30,538
)
 
954,501

Selling, general and administrative expenses
 
1,474

 
123,050

 
21,957

 
16,954

 
(30,538
)
 
132,897

(Loss) income from operations
 
(1,474
)
 
210,186

 
621,896

 
(9,004
)
 

 
821,604

Interest expense
 
(29,032
)
 
(8
)
 
(9,833
)
 
(39
)
 
10,730

 
(28,182
)
Other income (expense), net
 
14,488

 
(1,729
)
 
3,135

 
(724
)
 
(10,730
)
 
4,440

(Loss) income before income taxes
 
(16,018
)
 
208,449

 
615,198

 
(9,767
)
 

 
797,862

(Benefit from) provision for income taxes
 
(5,686
)
 
109,920

 
198,461

 
(2,464
)
 

 
300,231

Equity in net income of subsidiaries
 
505,564

 
410,875

 

 
5,862

 
(922,301
)
 

Net income (loss)
 
495,232

 
509,404

 
416,737

 
(1,441
)
 
(922,301
)
 
497,631

Net income attributable to noncontrolling interests
 

 

 

 
2,399

 

 
2,399

Net income (loss) attributable to Westlake Chemical Corporation
 
$
495,232

 
$
509,404

 
$
416,737

 
$
(3,840
)
 
$
(922,301
)
 
$
495,232

Comprehensive income (loss) attributable to
   Westlake Chemical Corporation
 
$
461,415

 
$
509,787

 
$
416,737

 
$
(41,722
)
 
$
(884,802
)
 
$
461,415



Condensed Consolidating Financial Information for the Nine Months Ended September 30, 2015
 
 
Westlake
Chemical
Corporation
 
100% Owned
Guarantor
Subsidiaries
 
OpCo
(Less Than
100% Owned
Guarantor
Subsidiary)
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Statement of Cash Flows
 
 
 
 
 
 
 
 
 
 
 
 
Cash flows from operating activities
 
 
 
 
 
 
 
 
 
 
 
 
Net income
 
$
535,041

 
$
473,663

 
$
266,621

 
$
85,715

 
$
(812,152
)
 
$
548,888

Adjustments to reconcile net income to net cash (used for)
   provided by operating activities
 
 
 
 
 
 
 
 
 
 
 
 
Depreciation and amortization
 
1,504

 
90,247

 
60,637

 
29,345

 

 
181,733

Deferred income taxes
 
87

 
4,184

 
(359
)
 
3,673

 

 
7,585

Net changes in working capital and other
 
(567,137
)
 
(251,423
)
 
9,315

 
100,187

 
812,152

 
103,094

Net cash (used for) provided by operating activities
 
(30,505
)
 
316,671

 
336,214

 
218,920

 

 
841,300

Cash flows from investing activities
 
 
 
 
 
 
 
 
 
 
 
 
Acquisition of business, net of cash acquired
 

 

 

 
15,782

 

 
15,782

Additions to property, plant and equipment
 

 
(148,055
)
 
(152,572
)
 
(28,609
)
 

 
(329,236
)
Proceeds from disposition of assets
 

 

 

 
17

 

 
17

Proceeds from disposition of equity method investment
 

 
27,865

 

 

 

 
27,865

Proceeds from sales and maturities of securities
 
16,056

 

 

 

 

 
16,056

Purchase of securities
 
(282,542
)
 

 

 

 

 
(282,542
)
Settlements of derivative instruments
 

 
(1,535
)
 

 

 

 
(1,535
)
Net cash used for investing activities
 
(266,486
)
 
(121,725
)
 
(152,572
)
 
(12,810
)
 

 
(553,593
)
Cash flows from financing activities
 
 
 
 
 
 
 
 
 
 
 
 
Intercompany financing
 
467,360

 
(577,898
)
 
102,857

 
7,681

 

 

Intercompany financing—OpCo
 

 
135,341

 
(135,341
)
 

 

 

Dividends paid
 
(67,852
)
 

 

 

 

 
(67,852
)
Distributions paid
 

 
249,999

 
(268,562
)
 
7,581

 

 
(10,982
)
Purchase of limited partner interests
 

 

 
135,341

 
(135,341
)
 

 

Proceeds from exercise of stock options
 
984

 

 

 

 

 
984

Proceeds from issuance of notes payable
 

 

 

 
19,483

 

 
19,483

Repayment of notes payable
 

 

 

 
(32,954
)
 

 
(32,954
)
Repurchase of common stock for treasury
 
(114,254
)
 

 

 

 

 
(114,254
)
Windfall tax benefits from share-based payment arrangements
 
2,452

 

 

 

 

 
2,452

Net cash provided by (used for) financing activities
 
$
288,690

 
$
(192,558
)
 
$
(165,705
)
 
$
(133,550
)
 
$

 
$
(203,123
)
 
 
Westlake
Chemical
Corporation
 
100% Owned
Guarantor
Subsidiaries
 
OpCo
(Less Than
100% Owned
Guarantor
Subsidiary)
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Effect of exchange rate changes on cash and cash equivalents
 
$

 
$

 
$

 
$
(3,260
)
 
$

 
$
(3,260
)
Net (decrease) increase in cash and cash equivalents
 
(8,301
)
 
2,388

 
17,937

 
69,300

 

 
81,324

Cash and cash equivalents at beginning of period
 
655,947

 
3,057

 
131,545

 
90,052

 

 
880,601

Cash and cash equivalents at end of period
 
$
647,646

 
$
5,445

 
$
149,482

 
$
159,352

 
$

 
$
961,925

Condensed Consolidating Financial Information for the Nine Months Ended September 30, 2014
 
 
Westlake
Chemical
Corporation
 
100% Owned
Guarantor
Subsidiaries
 
OpCo
(Less Than
100% Owned
Guarantor
Subsidiary)
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Statement of Cash Flows
 
 
 
 
 
 
 
 
 
 
 
 
Cash flows from operating activities
 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss)
 
$
495,232

 
$
509,404

 
$
416,737

 
$
(1,441
)
 
$
(922,301
)
 
$
497,631

Adjustments to reconcile net income (loss) to net cash (used for)
   provided by operating activities
 
 
 
 
 
 
 
 
 
 
 
 
Depreciation and amortization
 
1,172

 
82,597

 
58,501

 
7,296

 

 
149,566

Deferred income taxes
 
(418
)
 
26,991

 
8,267

 
(381
)
 

 
34,459

Net changes in working capital and other
 
(509,862
)
 
(919,521
)
 
1,641

 
599,909

 
922,301

 
94,468

Net cash (used for) provided by operating activities
 
(13,876
)
 
(300,529
)
 
485,146

 
605,383

 

 
776,124

Cash flows from investing activities
 
 
 
 
 
 
 
 
 
 
 
 
Acquisition of business
 

 

 

 
(611,087
)
 

 
(611,087
)
Additions to property, plant and equipment
 

 
(160,147
)
 
(144,348
)
 
(6,688
)
 

 
(311,183
)
Proceeds from disposition of assets
 

 
144

 

 
1

 

 
145

Proceeds from repayment of loan acquired
 

 

 

 
45,923

 

 
45,923

Proceeds from sales and maturities of securities
 
342,045

 

 

 

 

 
342,045

Purchase of securities
 
(117,332
)
 

 

 

 

 
(117,332
)
Settlements of derivative instruments
 

 
(556
)
 
(133
)
 

 

 
(689
)
Net cash provided by (used for) investing activities
 
224,713

 
(160,559
)
 
(144,481
)
 
(571,851
)
 

 
(652,178
)
Cash flows from financing activities
 
 
 
 
 
 
 
 
 
 
 
 
Intercompany financing
 
75,104

 
(143,325
)
 
62,221

 
6,000

 

 

Net distributions prior to Westlake Partners initial public offering
 

 
448,101

 
(448,101
)
 

 

 

Capitalized debt issuance costs
 
(1,167
)
 

 

 

 

 
(1,167
)
Dividends paid
 
(55,690
)
 
151,729

 
(151,729
)
 

 

 
(55,690
)
Net proceeds from issuance of Westlake Partners common units
 

 

 

 
286,088

 

 
286,088

Purchase of limited partner interests
 

 

 
286,088

 
(286,088
)
 

 

Proceeds from exercise of stock options
 
5,502

 

 

 

 

 
5,502

Repurchase of common stock for treasury
 
(9,495
)
 

 

 

 

 
(9,495
)
Windfall tax benefits from share-based payment arrangements
 
6,670

 

 

 

 

 
6,670

Net cash provided by (used for) financing activities
 
$
20,924

 
$
456,505

 
$
(251,521
)
 
$
6,000

 
$

 
$
231,908

 
 
Westlake
Chemical
Corporation
 
100% Owned
Guarantor
Subsidiaries
 
OpCo
(Less Than
100% Owned
Guarantor
Subsidiary)
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Effect of exchange rate changes on cash and cash equivalents
 
$

 
$

 
$

 
$
(3,687
)
 
$

 
$
(3,687
)
Net increase (decrease) in cash and cash equivalents
 
231,761

 
(4,583
)
 
89,144

 
35,845

 

 
352,167

Cash and cash equivalents at beginning of period
 
420,948

 
6,227

 

 
34,126

 

 
461,301

Cash and cash equivalents at end of period
 
$
652,709

 
$
1,644

 
$
89,144

 
$
69,971

 
$

 
$
813,468