10-Q Filing
Filing Information
| Form Type | 10-Q |
| Accession Number | 0001604665-16-000038 |
| Period End Date | 20160331 |
| Filing Date | 20160504 |
| Fiscal Year | 2016 |
| Fiscal Period | Q1 |
| XBRL Instance | wlkp-20160331.xml |
Filing Contents
This filing contains the following financial statements:
Balance Sheet
54 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$169.56M | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$133.75M | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$144.92M | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$178.68M | USD | Point-in-time |
| Accounts receivableWestlake Chemical Corporation (Westlake) |
AccountsReceivableRelatedPartiesCurrent
|
$56.04M | USD | Point-in-time |
| Accounts receivableWestlake Chemical Corporation (Westlake) |
AccountsReceivableRelatedPartiesCurrent
|
$39.66M | USD | Point-in-time |
| Accounts receivable, netthird parties |
ReceivablesNetCurrent
|
$6.07M | USD | Point-in-time |
| Accounts receivable, netthird parties |
ReceivablesNetCurrent
|
$11.93M | USD | Point-in-time |
| Inventories |
InventoryNet
|
$2.59M | USD | Point-in-time |
| Inventories |
InventoryNet
|
$3.88M | USD | Point-in-time |
| Prepaid expenses and other current assets |
PrepaidExpenseAndOtherAssetsCurrent
|
$157.00K | USD | Point-in-time |
| Prepaid expenses and other current assets |
PrepaidExpenseAndOtherAssetsCurrent
|
$267.00K | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$225.29M | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$243.53M | USD | Point-in-time |
| Property, plant and equipment, net |
PropertyPlantAndEquipmentNet
|
$1.02B | USD | Point-in-time |
| Property, plant and equipment, net |
PropertyPlantAndEquipmentNet
|
$1.10B | USD | Point-in-time |
| Goodwill |
Goodwill
|
$5.81M | USD | Point-in-time |
| Goodwill |
Goodwill
|
$5.81M | USD | Point-in-time |
| Deferred charges and other assets, net |
DeferredCostsAndOtherAssets
|
$38.38M | USD | Point-in-time |
| Deferred charges and other assets, net |
DeferredCostsAndOtherAssets
|
$38.78M | USD | Point-in-time |
| Total other assets, net |
OtherAssetsNoncurrent
|
$44.19M | USD | Point-in-time |
| Total other assets, net |
OtherAssetsNoncurrent
|
$44.59M | USD | Point-in-time |
| Total assets |
Assets
|
$1.38B | USD | Point-in-time |
| Total assets |
Assets
|
$1.29B | USD | Point-in-time |
| Accounts payableWestlake |
AccountsPayableRelatedPartiesCurrent
|
$15.55M | USD | Point-in-time |
| Accounts payableWestlake |
AccountsPayableRelatedPartiesCurrent
|
$7.29M | USD | Point-in-time |
| Accounts payablethird parties |
AccountsPayableCurrent
|
$18.74M | USD | Point-in-time |
| Accounts payablethird parties |
AccountsPayableCurrent
|
$29.42M | USD | Point-in-time |
| Accrued liabilities |
AccruedLiabilitiesCurrent
|
$36.63M | USD | Point-in-time |
| Accrued liabilities |
AccruedLiabilitiesCurrent
|
$23.41M | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$57.69M | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$73.34M | USD | Point-in-time |
| Long-term debt payable to Westlake |
DueToRelatedPartiesNoncurrent
|
$384.01M | USD | Point-in-time |
| Long-term debt payable to Westlake |
DueToRelatedPartiesNoncurrent
|
$443.52M | USD | Point-in-time |
| Deferred income taxes |
DeferredTaxLiabilitiesNoncurrent
|
$1.57M | USD | Point-in-time |
| Deferred income taxes |
DeferredTaxLiabilitiesNoncurrent
|
$1.39M | USD | Point-in-time |
| Other liabilities |
OtherLiabilitiesNoncurrent
|
$90.00K | USD | Point-in-time |
| Other liabilities |
OtherLiabilitiesNoncurrent
|
$420.00K | USD | Point-in-time |
| Total liabilities |
Liabilities
|
$518.85M | USD | Point-in-time |
| Total liabilities |
Liabilities
|
$443.18M | USD | Point-in-time |
| Commitments and contingencies (Notes 9 and 16) |
CommitmentsAndContingencies
|
- | USD | Point-in-time |
| Commitments and contingencies (Notes 9 and 16) |
CommitmentsAndContingencies
|
- | USD | Point-in-time |
| Accumulated other comprehensive (loss) income |
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$-451.00K | USD | Point-in-time |
| Accumulated other comprehensive (loss) income |
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$280.00K | USD | Point-in-time |
| Total Westlake Chemical Partners LP partners' capital |
PartnersCapital
|
$99.58M | USD | Point-in-time |
| Total Westlake Chemical Partners LP partners' capital |
PartnersCapital
|
$96.56M | USD | Point-in-time |
| Noncontrolling interest in Westlake Chemical OpCo LP (OpCo) |
MinorityInterestInLimitedPartnerships
|
$765.64M | USD | Point-in-time |
| Noncontrolling interest in Westlake Chemical OpCo LP (OpCo) |
MinorityInterestInLimitedPartnerships
|
$750.61M | USD | Point-in-time |
| Total equity |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$830.62M | USD | Point-in-time |
| Total equity |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$865.22M | USD | Point-in-time |
| Total equity |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$834.95M | USD | Point-in-time |
| Total equity |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$847.17M | USD | Point-in-time |
| Total liabilities and equity |
LiabilitiesAndStockholdersEquity
|
$1.38B | USD | Point-in-time |
| Total liabilities and equity |
LiabilitiesAndStockholdersEquity
|
$1.29B | USD | Point-in-time |
Income Statement
30 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net sales - Westlake |
RevenueFromRelatedParties
|
$208.91M | USD | 1 Quarter |
| Net sales - Westlake |
RevenueFromRelatedParties
|
$231.26M | USD | 1 Quarter |
| Net co-product, ethylene and feedstock salesthird parties |
OtherSalesRevenueNet
|
$49.48M | USD | 1 Quarter |
| Net co-product, ethylene and feedstock salesthird parties |
OtherSalesRevenueNet
|
$21.34M | USD | 1 Quarter |
| Total net sales |
SalesRevenueNet
|
$252.60M | USD | 1 Quarter |
| Total net sales |
SalesRevenueNet
|
$258.39M | USD | 1 Quarter |
| Cost of sales |
CostOfGoodsSold
|
$162.16M | USD | 1 Quarter |
| Cost of sales |
CostOfGoodsSold
|
$142.19M | USD | 1 Quarter |
| Gross profit |
GrossProfit
|
$110.41M | USD | 1 Quarter |
| Gross profit |
GrossProfit
|
$96.23M | USD | 1 Quarter |
| Selling, general and administrative expenses |
SellingGeneralAndAdministrativeExpense
|
$6.10M | USD | 1 Quarter |
| Selling, general and administrative expenses |
SellingGeneralAndAdministrativeExpense
|
$6.00M | USD | 1 Quarter |
| Income from operations |
OperatingIncomeLoss
|
$90.23M | USD | 1 Quarter |
| Income from operations |
OperatingIncomeLoss
|
$104.32M | USD | 1 Quarter |
| Interest expenseWestlake |
InterestExpenseRelatedParty
|
$1.23M | USD | 1 Quarter |
| Interest expenseWestlake |
InterestExpenseRelatedParty
|
$1.38M | USD | 1 Quarter |
| Other income, net |
NonoperatingIncomeExpense
|
$84.00K | USD | 1 Quarter |
| Other income, net |
NonoperatingIncomeExpense
|
$5.00K | USD | 1 Quarter |
| Income before income taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
$103.17M | USD | 1 Quarter |
| Income before income taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
$88.86M | USD | 1 Quarter |
| Provision for income taxes |
IncomeTaxExpenseBenefit
|
$399.00K | USD | 1 Quarter |
| Provision for income taxes |
IncomeTaxExpenseBenefit
|
$467.00K | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$88.39M | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$102.77M | USD | 1 Quarter |
| Less: Net income attributable to noncontrolling interest in OpCo |
NetIncomeLossAttributableToNoncontrollingInterest
|
$79.89M | USD | 1 Quarter |
| Less: Net income attributable to noncontrolling interest in OpCo |
NetIncomeLossAttributableToNoncontrollingInterest
|
$90.69M | USD | 1 Quarter |
| Net income attributable to Westlake Chemical Partners LP |
NetIncomeLoss
|
$12.08M | USD | 1 Quarter |
| Net income attributable to Westlake Chemical Partners LP |
NetIncomeLoss
|
$8.50M | USD | 1 Quarter |
| Weighted average limited partner units outstanding (shares) |
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
27.06M | shares | 1 Quarter |
| Weighted average limited partner units outstanding (shares) |
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
27.06M | shares | 1 Quarter |
Cash Flow Statement
48 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net income |
ProfitLoss
|
$88.39M | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$102.77M | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationDepletionAndAmortization
|
$19.80M | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationDepletionAndAmortization
|
$20.40M | USD | 1 Quarter |
| Loss from disposition of property, plant and equipment |
GainLossOnDispositionOfAssets
|
$-1.00K | USD | 1 Quarter |
| Loss from disposition of property, plant and equipment |
GainLossOnDispositionOfAssets
|
$-327.00K | USD | 1 Quarter |
| Deferred income taxes |
DeferredIncomeTaxExpenseBenefit
|
$54.00K | USD | 1 Quarter |
| Deferred income taxes |
DeferredIncomeTaxExpenseBenefit
|
$179.00K | USD | 1 Quarter |
| Accounts receivablethird parties |
IncreaseDecreaseInAccountsAndOtherReceivables
|
$-5.86M | USD | 1 Quarter |
| Accounts receivablethird parties |
IncreaseDecreaseInAccountsAndOtherReceivables
|
$-20.52M | USD | 1 Quarter |
| Net accounts receivableWestlake |
IncreaseDecreaseInAccountsReceivableRelatedParties
|
$14.50M | USD | 1 Quarter |
| Net accounts receivableWestlake |
IncreaseDecreaseInAccountsReceivableRelatedParties
|
$24.65M | USD | 1 Quarter |
| Inventories |
IncreaseDecreaseInInventories
|
$-2.07M | USD | 1 Quarter |
| Inventories |
IncreaseDecreaseInInventories
|
$-1.29M | USD | 1 Quarter |
| Prepaid expenses and other current assets |
IncreaseDecreaseInPrepaidExpensesAndOtherCurrentAssets
|
$-90.00K | USD | 1 Quarter |
| Prepaid expenses and other current assets |
IncreaseDecreaseInPrepaidExpensesAndOtherCurrentAssets
|
$-110.00K | USD | 1 Quarter |
| Accounts payable |
IncreaseDecreaseInAccountsPayable
|
$589.00K | USD | 1 Quarter |
| Accounts payable |
IncreaseDecreaseInAccountsPayable
|
$7.61M | USD | 1 Quarter |
| Accrued and other liabilities |
IncreaseDecreaseInAccruedLiabilities
|
$2.58M | USD | 1 Quarter |
| Accrued and other liabilities |
IncreaseDecreaseInAccruedLiabilities
|
$-3.48M | USD | 1 Quarter |
| Other, net |
IncreaseDecreaseInOtherOperatingCapitalNet
|
$307.00K | USD | 1 Quarter |
| Other, net |
IncreaseDecreaseInOtherOperatingCapitalNet
|
$3.90M | USD | 1 Quarter |
| Net cash provided by operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$112.58M | USD | 1 Quarter |
| Net cash provided by operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$113.23M | USD | 1 Quarter |
| Additions to property, plant and equipment |
PaymentsToAcquirePropertyPlantAndEquipment
|
$39.54M | USD | 1 Quarter |
| Additions to property, plant and equipment |
PaymentsToAcquirePropertyPlantAndEquipment
|
$79.09M | USD | 1 Quarter |
| Proceeds from disposition of assets |
ProceedsFromSaleOfPropertyPlantAndEquipment
|
$98.00K | USD | 1 Quarter |
| Proceeds from disposition of assets |
ProceedsFromSaleOfPropertyPlantAndEquipment
|
- | USD | 1 Quarter |
| Net cash used for investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-78.99M | USD | 1 Quarter |
| Net cash used for investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-39.54M | USD | 1 Quarter |
| Proceeds from debt payable to Westlake |
ProceedsFromRelatedPartyDebt
|
$30.19M | USD | 1 Quarter |
| Proceeds from debt payable to Westlake |
ProceedsFromRelatedPartyDebt
|
$59.52M | USD | 1 Quarter |
| Quarterly distributions to noncontrolling interest retained in OpCo by Westlake |
PaymentsToMinorityShareholders
|
$85.28M | USD | 1 Quarter |
| Quarterly distributions to noncontrolling interest retained in OpCo by Westlake |
PaymentsToMinorityShareholders
|
$75.65M | USD | 1 Quarter |
| Quarterly distributions to unitholders |
DistributionMadeToLimitedPartnerCashDistributionsPaid
|
$8.33M | USD | 1 Quarter |
| Quarterly distributions to unitholders |
DistributionMadeToLimitedPartnerCashDistributionsPaid
|
$7.44M | USD | 1 Quarter |
| Net cash used for financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$-62.53M | USD | 1 Quarter |
| Net cash used for financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$-24.46M | USD | 1 Quarter |
| Net increase in cash and cash equivalents |
CashAndCashEquivalentsPeriodIncreaseDecrease
|
$11.17M | USD | 1 Quarter |
| Net increase in cash and cash equivalents |
CashAndCashEquivalentsPeriodIncreaseDecrease
|
$9.12M | USD | 1 Quarter |
| Cash and cash equivalents at beginning of period |
CashAndCashEquivalentsAtCarryingValue
|
$169.56M | USD | Point-in-time |
| Cash and cash equivalents at beginning of period |
CashAndCashEquivalentsAtCarryingValue
|
$133.75M | USD | Point-in-time |
| Cash and cash equivalents at beginning of period |
CashAndCashEquivalentsAtCarryingValue
|
$144.92M | USD | Point-in-time |
| Cash and cash equivalents at beginning of period |
CashAndCashEquivalentsAtCarryingValue
|
$178.68M | USD | Point-in-time |
| Cash and cash equivalents at end of period |
CashAndCashEquivalentsAtCarryingValue
|
$169.56M | USD | Point-in-time |
| Cash and cash equivalents at end of period |
CashAndCashEquivalentsAtCarryingValue
|
$133.75M | USD | Point-in-time |
| Cash and cash equivalents at end of period |
CashAndCashEquivalentsAtCarryingValue
|
$144.92M | USD | Point-in-time |
| Cash and cash equivalents at end of period |
CashAndCashEquivalentsAtCarryingValue
|
$178.68M | USD | Point-in-time |
Stockholders Equity
15 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Equity, beginning balance |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$830.62M | USD | Point-in-time |
| Equity, beginning balance |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$865.22M | USD | Point-in-time |
| Equity, beginning balance |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$834.95M | USD | Point-in-time |
| Equity, beginning balance |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$847.17M | USD | Point-in-time |
| Net income |
ProfitLoss
|
$88.39M | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$102.77M | USD | 1 Quarter |
| Net effect of cash flow hedge |
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
|
$-731.00K | USD | 1 Quarter |
| Quarterly distributions to unitholders |
LimitedPartnersCapitalAccountDistributionAmount
|
$7.44M | USD | 1 Quarter |
| Quarterly distributions to unitholders |
LimitedPartnersCapitalAccountDistributionAmount
|
$8.33M | USD | 1 Quarter |
| Quarterly distributions to noncontrolling interest retained in OpCo by Westlake |
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
|
$85.28M | USD | 1 Quarter |
| Quarterly distributions to noncontrolling interest retained in OpCo by Westlake |
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
|
$75.65M | USD | 1 Quarter |
| Equity, ending balance |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$830.62M | USD | Point-in-time |
| Equity, ending balance |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$865.22M | USD | Point-in-time |
| Equity, ending balance |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$834.95M | USD | Point-in-time |
| Equity, ending balance |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$847.17M | USD | Point-in-time |
Comprehensive Income
14 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net income |
ProfitLoss
|
$88.39M | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$102.77M | USD | 1 Quarter |
| Change in fair value of cash flow hedge |
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
|
- | USD | 1 Quarter |
| Change in fair value of cash flow hedge |
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
|
$-827.00K | USD | 1 Quarter |
| Reclassification of loss to net income |
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
|
$-96.00K | USD | 1 Quarter |
| Reclassification of loss to net income |
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
|
- | USD | 1 Quarter |
| Total other comprehensive loss |
OtherComprehensiveIncomeLossNetOfTax
|
- | USD | 1 Quarter |
| Total other comprehensive loss |
OtherComprehensiveIncomeLossNetOfTax
|
$-731.00K | USD | 1 Quarter |
| Comprehensive income |
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
$88.39M | USD | 1 Quarter |
| Comprehensive income |
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
$102.04M | USD | 1 Quarter |
| Comprehensive income attributable to noncontrolling interest in OpCo |
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
$79.89M | USD | 1 Quarter |
| Comprehensive income attributable to noncontrolling interest in OpCo |
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
$90.69M | USD | 1 Quarter |
| Comprehensive income attributable to Westlake Chemical Partners LP |
ComprehensiveIncomeNetOfTax
|
$8.50M | USD | 1 Quarter |
| Comprehensive income attributable to Westlake Chemical Partners LP |
ComprehensiveIncomeNetOfTax
|
$11.35M | USD | 1 Quarter |
Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.