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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities    
Net income $ 157 $ 82
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 190 171
Stock-based compensation expense 6 7
Loss from disposition and write-off of property, plant and equipment 5 20
Deferred income taxes 126 15
Other losses (gains), net (2) 9
Changes in operating assets and liabilities, net of effect of business acquisitions    
Accounts receivable (240) (41)
Inventories (8) 19
Prepaid expenses and other current assets 7 4
Accounts payable (2) (7)
Accrued and other liabilities (146) (110)
Other, net (32) (22)
Net cash provided by operating activities 61 147
Cash flows from investing activities    
Acquisition of businesses, net of cash acquired 0 (236)
Additions to property, plant and equipment (164) (203)
Additions to investments in unconsolidated subsidiaries 0 (42)
Return of investment from an equity investee 39 0
Other, net (7) 6
Net cash used for investing activities (132) (475)
Cash flows from financing activities    
Dividends paid (34) (33)
Distributions to noncontrolling interests (10) (8)
Net proceeds from issuance of Westlake Chemical Partners LP common units 0 63
Proceeds from drawdown of revolver 1,000 0
Repayment of notes payable (27) (4)
Repurchase of common stock for treasury (54) 0
Other 8 3
Net cash provided by financing activities 883 21
Effect of exchange rate changes on cash, cash equivalents and restricted cash (3) (1)
Net increase (decrease) in cash, cash equivalents and restricted cash 809 (308)
Cash, cash equivalents and restricted cash at beginning of period 750 775
Cash, cash equivalents and restricted cash at end of period $ 1,559 $ 467