Guarantor Disclosures (Tables)

9 Months Ended

Sep. 30, 2017

Guarantees [Abstract]

Condensed Consolidating Financial Information Balance Sheet

Condensed Consolidating Financial Information as of September 30, 2017

	Westlake Chemical Corporation		100% Owned Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			Consolidated
Balance Sheet
Current assets
Cash and cash equivalents	$	334,111	$	33,089	$	311,033	$	—		$	678,233
Accounts receivable, net	3,060,591		4,048,824		432,238		(6,398,674		)	1,142,979
Inventories	—		631,322		203,513		—			834,835
Prepaid expenses and other current assets	16,616		31,785		22,365		(35,906		)	34,860
Restricted cash	—		1,275		7,351		—			8,626
Total current assets	3,411,318		4,746,295		976,500		(6,434,580		)	2,699,533
Property, plant and equipment, net	—		4,330,104		2,013,533		—			6,343,637
Other assets, net
Goodwill	—		854,896		156,446		—			1,011,342
Customer relationships, net	—		493,960		141,924		—			635,884
Other intangible assets, net	—		92,155		74,011		—			166,166
Deferred charges and other assets, net	9,890,164		551,732		1,372,070		(11,426,403		)	387,563
Total other assets, net	9,890,164		1,992,743		1,744,451		(11,426,403		)	2,200,955
Total assets	$	13,301,482	$	11,069,142	$	4,734,484	$	(17,860,983	)	$	11,244,125
Current liabilities
Accounts payable	$	5,821,323	$	830,824	$	128,673	$	(6,220,016	)	$	560,804
Accrued liabilities	155,106		436,816		232,114		(214,564		)	609,472
Total current liabilities	5,976,429		1,267,640		360,787		(6,434,580		)	1,170,276
Long-term debt, net	3,256,280		4,334,142		223,578		(4,464,598		)	3,349,402
Deferred income taxes	—		1,577,209		106,587		(22,882		)	1,660,914
Pension and other liabilities	—		364,011		148,023		—			512,034
Total liabilities	9,232,709		7,543,002		838,975		(10,922,060		)	6,692,626
Total Westlake Chemical Corporation    stockholders' equity	4,068,773		3,526,140		3,412,784		(6,938,923		)	4,068,774
Noncontrolling interests	—		—		482,725		—			482,725
Total equity	4,068,773		3,526,140		3,895,509		(6,938,923		)	4,551,499
Total liabilities and equity	$	13,301,482	$	11,069,142	$	4,734,484	$	(17,860,983	)	$	11,244,125

Condensed Consolidating Financial Information as of December 31, 2016

	Westlake Chemical Corporation		100% Owned Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated
Balance Sheet
Current assets
Cash and cash equivalents	$	146,990	$	53,006	$	259,457	$	—		$	459,453
Accounts receivable, net	2,117,540		3,329,871		323,931		(4,832,599		)	938,743
Inventories	—		597,819		203,281		—			801,100
Prepaid expenses and other current assets	30,748		41,755		12,494		(36,504		)	48,493
Restricted cash	—		—		160,527		—			160,527
Total current assets	2,295,278		4,022,451		959,690		(4,869,103		)	2,408,316
Property, plant and equipment, net	—		4,475,943		1,944,119		—			6,420,062
Other assets, net
Goodwill	—		791,706		154,847		—			946,553
Customer relationships, net	—		468,645		142,970		—			611,615
Other intangible assets, net	—		130,243		71,177		(25,581		)	175,839
Deferred charges and other assets, net	9,170,042		874,003		1,115,877		(10,832,054		)	327,868
Total other assets, net	9,170,042		2,264,597		1,484,871		(10,857,635		)	2,061,875
Total assets	$	11,465,320	$	10,762,991	$	4,388,680	$	(15,726,738	)	$	10,890,253
Current liabilities
Accounts payable	$	4,330,375	$	748,364	$	225,300	$	(4,807,780	)	$	496,259
Accrued liabilities	26,367		389,216		183,223		(61,323		)	537,483
Term loan	—		—		149,341		—			149,341
Total current liabilities	4,356,742		1,137,580		557,864		(4,869,103		)	1,183,083
Long-term debt, net	3,584,949		4,090,775		—		(3,997,070		)	3,678,654
Deferred income taxes	—		1,581,260		91,809		(22,494		)	1,650,575
Pension and other liabilities	—		360,622		125,274		—			485,896
Total liabilities	7,941,691		7,170,237		774,947		(8,888,667		)	6,998,208
Total Westlake Chemical Corporation    stockholders' equity	3,523,629		3,592,754		3,245,317		(6,838,071		)	3,523,629
Noncontrolling interests	—		—		368,416		—			368,416
Total equity	3,523,629		3,592,754		3,613,733		(6,838,071		)	3,892,045
Total liabilities and equity	$	11,465,320	$	10,762,991	$	4,388,680	$	(15,726,738	)	$	10,890,253

Condensed Consolidating Financial Information Statement Of Operations

Condensed Consolidating Financial Information for the Three Months Ended September 30, 2017

	Westlake Chemical Corporation			100% Owned Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Statement of Operations
Net sales	$	—		$	1,704,086		$	837,536		$	(432,733	)	$	2,108,889
Cost of sales	—			1,371,813			665,124			(426,100		)	1,610,837
Gross profit	—			332,273			172,412			(6,633		)	498,052
Selling, general and administrative expenses	1,509			93,149			37,617			(6,633		)	125,642
Transaction and integration-related costs	—			6,387			276			—			6,663
Income (loss) from operations	(1,509		)	232,737			134,519			—			365,747
Other income (expense)
Interest expense	(38,811		)	(44,381		)	(1,635		)	44,791			(40,036		)
Other income, net	37,563			2,517			6,769			(44,791		)	2,058
Income (loss) before income taxes	(2,757		)	190,873			139,653			—			327,769
Provision for (benefit from) income taxes	(599		)	92,597			16,621			—			108,619
Equity in net income of subsidiaries	212,989			—			—			(212,989		)	—
Net income	210,831			98,276			123,032			(212,989		)	219,150
Net income attributable to noncontrolling    interests	—			—			8,318			—			8,318
Net income attributable to Westlake Chemical    Corporation	$	210,831		$	98,276		$	114,714		$	(212,989	)	$	210,832
Comprehensive income attributable to    Westlake Chemical Corporation	$	254,400		$	98,455		$	158,160		$	(256,615	)	$	254,400

Condensed Consolidating Financial Information for the Three Months Ended September 30, 2016

	Westlake Chemical Corporation			100% Owned Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Statement of Operations
Net sales	$	—		$	984,937		$	611,983		$	(317,892	)	$	1,279,028
Cost of sales	—			892,198			497,460			(312,763		)	1,076,895
Gross profit	—			92,739			114,523			(5,129		)	202,133
Selling, general and administrative expenses	2,092			47,952			27,814			(5,129		)	72,729
Transactions and integration-related costs	—			82,687			154			—			82,841
Income (loss) from operations	(2,092		)	(37,900		)	86,555			—			46,563
Other income (expense)
Interest expense	(22,130		)	(22,207		)	(908		)	20,879			(24,366		)
Other income (expense), net	35,405			(15,189		)	41,928			(20,879		)	41,265
Income (loss) before income taxes	11,183			(75,296		)	127,575			—			63,462
Provision for (benefit from) income taxes	(2,088		)	(11,080		)	6,616			—			(6,552		)
Equity in net income of subsidiaries	52,391			—			—			(52,391		)	—
Net income	65,662			(64,216		)	120,959			(52,391		)	70,014
Net income attributable to noncontrolling    interests	—			—			4,352			—			4,352
Net income attributable to Westlake Chemical    Corporation	$	65,662		$	(64,216	)	$	116,607		$	(52,391	)	$	65,662
Comprehensive income attributable to    Westlake Chemical Corporation	$	39,636		$	(64,113	)	$	104,129		$	(40,015	)	$	39,637

Condensed Consolidating Financial Information for the Nine Months Ended September 30, 2017

	Westlake Chemical Corporation			100% Owned Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Statement of Operations
Net sales	$	—		$	4,880,682		$	2,377,862		$	(1,227,878	)	$	6,030,666
Cost of sales	—			4,077,633			1,889,571			(1,207,567		)	4,759,637
Gross profit	—			803,049			488,291			(20,311		)	1,271,029
Selling, general and administrative expenses	2,429			281,412			116,389			(20,311		)	379,919
Transaction and integration-related costs	—			22,611			338			—			22,949
Income (loss) from operations	(2,429		)	499,026			371,564			—			868,161
Other income (expense)
Interest expense	(115,156		)	(133,048		)	(5,623		)	135,043			(118,784		)
Other income, net	112,002			2,944			26,688			(135,043		)	6,591
Income (loss) before income taxes	(5,583		)	368,922			392,629			—			755,968
Provision for (benefit from) income taxes	(1,451		)	198,054			36,087			—			232,690
Equity in net income of subsidiaries	505,981			—			—			(505,981		)	—
Net income	501,849			170,868			356,542			(505,981		)	523,278
Net income attributable to noncontrolling    interests	—			—			21,429			—			21,429
Net income attributable to Westlake Chemical    Corporation	$	501,849		$	170,868		$	335,113		$	(505,981	)	$	501,849
Comprehensive income attributable to    Westlake Chemical Corporation	$	613,350		$	171,413		$	233,030		$	(404,443	)	$	613,350

Condensed Consolidating Financial Information for the Nine Months Ended September 30, 2016

	Westlake Chemical Corporation			100% Owned Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Statement of Operations
Net sales	$	—		$	2,567,232		$	1,734,611		$	(961,567	)	$	3,340,276
Cost of sales	—			2,233,395			1,353,764			(945,967		)	2,641,192
Gross profit	—			333,837			380,847			(15,600		)	699,084
Selling, general and administrative expenses	3,648			121,261			70,448			(15,600		)	179,757
Transaction and integration-related costs	—			90,396			154			—			90,550
Income (loss) from operations	(3,648		)	122,180			310,245			—			428,777
Other income (expense)
Interest expense	(43,228		)	(39,693		)	(1,054		)	47,009			(36,966		)
Other income (expense), net	40,807			(22,291		)	80,584			(47,009		)	52,091
Income (loss) before income taxes	(6,069		)	60,196			389,775			—			443,902
Provision for (benefit from) income taxes	(8,268		)	106,792			30,808			—			129,332
Equity in net income of subsidiaries	297,715			—			—			(297,715		)	—
Net income	299,914			(46,596		)	358,967			(297,715		)	314,570
Net income attributable to noncontrolling    interests	—			—			14,656			—			14,656
Net income attributable to Westlake Chemical    Corporation	$	299,914		$	(46,596	)	$	344,311		$	(297,715	)	$	299,914
Comprehensive income attributable to    Westlake Chemical Corporation	$	321,079		$	(46,187	)	$	364,402		$	(318,214	)	$	321,080

Condensed Consolidating Financial Information Statement Of Cash Flows

Condensed Consolidating Financial Information for the Nine Months Ended September 30, 2017

	Westlake Chemical Corporation			100% Owned Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Statement of Cash Flows
Cash flows from operating activities
Net income	$	501,849		$	170,868		$	356,542		$	(505,981	)	$	523,278
Adjustments to reconcile net income to net    cash provided by (used for) operating    activities
Depreciation and amortization	—			294,227			154,306			—			448,533
Deferred income taxes	(217		)	20,299			3,212			—			23,294
Net changes in working capital and other	(532,120		)	(129,330		)	123,028			505,981			(32,441		)
Net cash provided by (used for)    operating activities	(30,488		)	356,064			637,088			—			962,664
Cash flows from investing activities
Additions to property, plant and equipment	—			(294,138		)	(120,133		)	—			(414,271		)
Additions to cost method investment	—			(47,000		)	—			—			(47,000		)
Proceeds from disposition of assets	—			25			146			—			171
Proceeds from involuntary conversion of    assets	—			—			1,672			—			1,672
Receivable under the investment management    agreement	—			—			(119,000		)	119,000			—
Settlements of derivative instruments	—			(7		)	—			—			(7		)
Net cash used for investing activities	—			(341,120		)	(237,315		)	119,000			(459,435		)
Cash flows from financing activities
Intercompany financing	498,272			(313,276		)	(184,996		)	—			—
Receivable under the investment management    agreement	119,000			—			—			(119,000		)	—
Debt issuance costs	(376		)	—			—			—			(376		)
Dividends paid	(76,491		)	—			—			—			(76,491		)
Distributions to noncontrolling interests	—			279,203			(299,970		)	—			(20,767		)
Net proceeds from issuance of Westlake    Chemical Partners LP common units	—			—			110,739			—			110,739
Proceeds from issuance of notes payable	—			—			5,946			—			5,946
Proceeds from drawdown of revolver	225,000			—			—			—			225,000
Restricted cash associated with term loan	—			—			154,000			—			154,000
Repayment of term loan	—			—			(150,000		)	—			(150,000		)
Repayment of notes payable	—			(788		)	(5,907		)	—			(6,695		)
Repayment of revolver	(550,000		)	—			—			—			(550,000		)
Other	2,204			—			—			—			2,204
Net cash provided by (used for)    financing activities	217,609			(34,861		)	(370,188		)	(119,000		)	(306,440		)

	Westlake Chemical Corporation		100% Owned Guarantor Subsidiaries			Non- Guarantor Subsidiaries		Eliminations		Consolidated
Effect of exchange rate changes on cash and    cash equivalents	—		—			21,991		—		21,991
Net increase (decrease) in cash and cash    equivalents	187,121		(19,917		)	51,576		—		218,780
Cash and cash equivalents at beginning of    period	146,990		53,006			259,457		—		459,453
Cash and cash equivalents at end of period	$	334,111	$	33,089		$	311,033	$	—	$	678,233

Condensed Consolidating Financial Information for the Nine Months Ended September 30, 2016

	Westlake Chemical Corporation			100% Owned Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Statement of Cash Flows
Cash flows from operating activities
Net income	$	299,914		$	(46,596	)	$	358,967		$	(297,715	)	$	314,570
Adjustments to reconcile net income (loss) to    net cash provided by (used for) operating    activities
Depreciation and amortization	—			118,645			108,548			—			227,193
Deferred income taxes	(5,178		)	100,908			10,180			—			105,910
Net changes in working capital and other	(313,676		)	(39,859		)	(47,693		)	297,715			(103,513		)
Net cash provided by (used for)    operating activities	(18,940		)	133,098			430,002			—			544,160
Cash flows from investing activities
Acquisition of business, net of cash acquired	—			(2,437,829		)	—			—			(2,437,829		)
Additions to property, plant and equipment	—			(162,288		)	(305,042		)	—			(467,330		)
Additions to cost method investment	—			(4,000		)	—			—			(4,000		)
Proceeds from disposition of assets	—			48			165			—			213
Proceeds from sales and maturities of    securities	658,338			—			4,600			—			662,938
Purchase of securities	(138,422		)	—			—			—			(138,422		)
Settlements of derivative instruments	—			(4,655		)	—			—			(4,655		)
Net cash provided by (used for)    investing activities	519,916			(2,608,724		)	(300,277		)	—			(2,389,085		)
Cash flows from financing activities
Intercompany financing	(2,242,604		)	2,289,200			(46,596		)	—			—
Debt issuance costs	(33,617		)	—			(1,590		)	—			(35,207		)
Dividends paid	(71,933		)	—			—			—			(71,933		)
Distributions to noncontrolling interests	—			202,210			(214,510		)	—			(12,300		)
Proceeds from debt issuance	1,428,512			—			—			—			1,428,512
Proceeds from issuance of notes payable	—			—			5,597			—			5,597
Proceeds from term loan and drawdown of    revolver	450,000			—			150,000			—			600,000
Restricted cash associated with term loan	—			—			(154,000		)	—			(154,000		)
Repayment of notes payable	—			—			(10,602		)	—			(10,602		)
Repayment of revolver	(125,000		)	—			—			—			(125,000		)
Repurchase of common stock for treasury	(67,406		)	—			—			—			(67,406		)
Other	2,840			—			—			—			2,840
Net cash provided by (used for)    financing activities	(659,208		)	2,491,410			(271,701		)	—			1,560,501
Effect of exchange rate changes on cash and    cash equivalents	—			—			2,418			—			2,418
Net increase (decrease) in cash and cash    equivalents	(158,232		)	15,784			(139,558		)	—			(282,006		)
Cash and cash equivalents at beginning of    period	303,131			6,818			352,576			—			662,525
Cash and cash equivalents at end of period	$	144,899		$	22,602		$	213,018		$	—		$	380,519