XML 21 R8.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities      
Net income $ 1,034 $ 1,339 $ 420
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation and amortization 641 601 378
Stock-based compensation expense 22 23 14
Gain realized on previously held shares of Axiall common stock and from sales of securities 0 0 (54)
Loss from disposition of property, plant and equipment 44 22 9
Deferred income taxes 62 (534) 101
Other losses (gains), net (20) (3) 5
Changes in operating assets and liabilities, net of effect of business acquisitions      
Accounts receivable (58) (40) 50
Inventories (123) (32) (62)
Prepaid expenses and other current assets (1) 26 11
Accounts payable (100) 86 12
Accrued liabilities (8) 115 48
Other, net (84) (75) (65)
Net cash provided by operating activities 1,409 1,528 867
Cash flows from investing activities      
Acquisition of business, net of cash acquired 0 (13) (2,438)
Additions to property, plant and equipment (702) (577) (629)
Additions to investments in unconsolidated subsidiaries (68) (66) (17)
Proceeds from sales and maturities of securities 0 0 663
Purchase of securities 0 0 (138)
Other, net 16 4 (4)
Net cash used for investing activities (754) (652) (2,563)
Cash flows from financing activities      
Debt issuance costs 0 (6) (36)
Dividends paid (120) (103) (97)
Distributions to noncontrolling interests (45) (28) (17)
Proceeds from notes payable and drawdown of revolver 14 978 2,037
Net proceeds from issuance of Westlake Chemical Partners LP common units 0 111 0
Repayment of term loan 0 (150) 0
Repayment of revolver 0 (550) (125)
Redemption and repayment of notes payable (1,179) (257) (13)
Repurchase of common stock for treasury (106) 0 (67)
Other 9 11 5
Net cash provided by (used for) financing activities (1,427) 6 1,687
Effect of exchange rate changes on cash, cash equivalents and restricted cash (7) 26 (8)
Net increase (decrease) in cash, cash equivalents and restricted cash (779) 908 (17)
Cash, cash equivalents and restricted cash at beginning of the year 1,554 646 663
Cash, cash equivalents and restricted cash at end of the year $ 775 $ 1,554 $ 646