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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities    
Net income $ 181 $ 211
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 381 347
Stock-based compensation expense 14 13
Loss from disposition and write-off of property, plant and equipment 9 27
Deferred income taxes 96 15
Other losses, net 3 16
Changes in operating assets and liabilities, net of effect of business acquisitions    
Accounts receivable (128) (119)
Inventories 87 125
Prepaid expenses and other current assets (16) (8)
Accounts payable 8 (40)
Accrued and other liabilities (75) (62)
Other, net (51) (58)
Net cash provided by operating activities 509 467
Cash flows from investing activities    
Acquisition of businesses, net of cash acquired 0 (314)
Additions to property, plant and equipment (291) (411)
Additions to investments in unconsolidated subsidiaries 0 (42)
Return of investment from an equity investee 39 0
Other, net (8) 4
Net cash used for investing activities (260) (763)
Cash flows from financing activities    
Dividends paid (68) (65)
Distributions to noncontrolling interests (29) (30)
Net proceeds from issuance of Westlake Chemical Partners LP common units 0 63
Net proceeds from debt issuance and drawdown of revolver 1,299 0
Proceeds from (repayment of) short-term notes payable (14) 4
Repayment of revolver (1,000) 0
Repurchase of common stock for treasury (54) (20)
Other (3) 0
Net cash provided by (used for) financing activities 131 (48)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 0 0
Net increase (decrease) in cash, cash equivalents and restricted cash 380 (344)
Cash, cash equivalents and restricted cash at beginning of period 750 775
Cash, cash equivalents and restricted cash at end of period $ 1,130 $ 431