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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities    
Net income $ 523,278 $ 314,570
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 448,533 227,193
Provision for doubtful accounts 3,771 1,176
Amortization of debt issuance costs 3,471 1,018
Stock-based compensation expense 16,740 6,588
Loss from disposition of property, plant and equipment 14,319 6,541
Gains realized on previously held shares of Axiall common stock and from sales of securities 0 (53,720)
Write-off of debt issuance costs 659 0
Deferred income taxes 23,294 105,910
Windfall tax benefits from share-based payment arrangements 0 (1,190)
Dividends in excess of income from equity method investments (2,132) (61)
Gain on involuntary conversion of assets (1,672) 0
Other losses (gains), net (6,659) 833
Changes in operating assets and liabilities, net of effect of business acquisitions    
Accounts receivable (185,153) (92,311)
Inventories 23,945 (6,124)
Prepaid expenses and other current assets 16,788 1,631
Accounts payable 60,899 34,109
Accrued liabilities 57,419 73,157
Other, net (34,836) (75,160)
Net cash provided by (used for) operating activities 962,664 544,160
Cash flows from investing activities    
Acquisition of business, net of cash acquired 0 (2,437,829)
Additions to property, plant and equipment (414,271) (467,330)
Additions to cost method investment (47,000) (4,000)
Proceeds from disposition of assets 171 213
Proceeds from involuntary conversion of assets 1,672 0
Proceeds from sales and maturities of securities 0 662,938
Purchase of securities 0 (138,422)
Settlements of derivative instruments (7) (4,655)
Net cash used for investing activities (459,435) (2,389,085)
Cash flows from financing activities    
Debt issuance costs (376) (35,207)
Dividends paid (76,491) (71,933)
Distributions to noncontrolling interests (20,767) (12,300)
Net proceeds from issuance of Westlake Chemical Partners LP common units 110,739 0
Proceeds from debt issuance 0 1,428,512
Proceeds from issuance of notes payable 5,946 5,597
Proceeds from term loan and drawdown of revolver 225,000 600,000
Restricted cash associated with term loan 154,000 (154,000)
Repayment of term loan (150,000) 0
Repayment of notes payable (6,695) (10,602)
Repayment of revolver (550,000) (125,000)
Repurchase of common stock for treasury 0 (67,406)
Other 2,204 2,840
Net cash provided by (used for) financing activities (306,440) 1,560,501
Effect of exchange rate changes on cash and cash equivalents 21,991 2,418
Net increase (decrease) in cash and cash equivalents 218,780 (282,006)
Cash and cash equivalents at beginning of period 459,453 662,525
Cash and cash equivalents at end of period $ 678,233 $ 380,519