10-Q Filing
Filing Information
| Form Type | 10-Q |
| Accession Number | 0001604665-18-000013 |
| Period End Date | 20180331 |
| Filing Date | 20180503 |
| Fiscal Year | 2018 |
| Fiscal Period | Q1 |
| XBRL Instance | wlkp-20180331.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
|
$122.97M | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$24.98M | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$27.01M | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$88.90M | USD | Point-in-time |
| Receivables under Investment Management Agreements with Related Parties, Current |
ReceivablesunderInvestmentManagementAgreementswithRelatedPartiesCurrent
|
$134.71M | USD | Point-in-time |
| Receivables under Investment Management Agreements with Related Parties, Current |
ReceivablesunderInvestmentManagementAgreementswithRelatedPartiesCurrent
|
$136.51M | USD | Point-in-time |
| Accounts receivable, netWestlake |
AccountsReceivableRelatedPartiesCurrent
|
$43.88M | USD | Point-in-time |
| Accounts receivable, netWestlake |
AccountsReceivableRelatedPartiesCurrent
|
$43.26M | USD | Point-in-time |
| Accounts receivable, netthird parties |
ReceivablesNetCurrent
|
$19.02M | USD | Point-in-time |
| Accounts receivable, netthird parties |
ReceivablesNetCurrent
|
$18.08M | USD | Point-in-time |
| Inventories |
InventoryNet
|
$5.59M | USD | Point-in-time |
| Inventories |
InventoryNet
|
$5.17M | USD | Point-in-time |
| Prepaid expenses and other current assets |
PrepaidExpenseAndOtherAssetsCurrent
|
$314.00K | USD | Point-in-time |
| Prepaid expenses and other current assets |
PrepaidExpenseAndOtherAssetsCurrent
|
$161.00K | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$227.30M | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$231.39M | USD | Point-in-time |
| Property, plant and equipment, net |
PropertyPlantAndEquipmentNet
|
$1.18B | USD | Point-in-time |
| Property, plant and equipment, net |
PropertyPlantAndEquipmentNet
|
$1.20B | 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
|
$81.83M | USD | Point-in-time |
| Deferred charges and other assets, net |
DeferredCostsAndOtherAssets
|
$76.08M | USD | Point-in-time |
| Total assets |
Assets
|
$1.52B | USD | Point-in-time |
| Total assets |
Assets
|
$1.49B | USD | Point-in-time |
| Accounts payableWestlake |
AccountsPayableRelatedPartiesCurrent
|
$14.03M | USD | Point-in-time |
| Accounts payableWestlake |
AccountsPayableRelatedPartiesCurrent
|
$14.34M | USD | Point-in-time |
| Accounts payablethird parties |
AccountsPayableCurrent
|
$10.52M | USD | Point-in-time |
| Accounts payablethird parties |
AccountsPayableCurrent
|
$7.80M | USD | Point-in-time |
| Accrued liabilities |
AccruedLiabilitiesCurrent
|
$15.15M | USD | Point-in-time |
| Accrued liabilities |
AccruedLiabilitiesCurrent
|
$15.70M | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$37.29M | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$40.24M | USD | Point-in-time |
| Long-term debt payable to Westlake |
DueToRelatedPartiesNoncurrent
|
$477.61M | USD | Point-in-time |
| Long-term debt payable to Westlake |
DueToRelatedPartiesNoncurrent
|
$473.96M | USD | Point-in-time |
| Deferred income taxes |
DeferredTaxLiabilitiesNoncurrent
|
$2.22M | USD | Point-in-time |
| Deferred income taxes |
DeferredTaxLiabilitiesNoncurrent
|
$2.27M | USD | Point-in-time |
| Other liabilities |
OtherLiabilitiesNoncurrent
|
$114.00K | USD | Point-in-time |
| Other liabilities |
OtherLiabilitiesNoncurrent
|
$107.00K | USD | Point-in-time |
| Total liabilities |
Liabilities
|
$517.28M | USD | Point-in-time |
| Total liabilities |
Liabilities
|
$516.53M | USD | Point-in-time |
| Commitments and contingencies (Note 12) |
CommitmentsAndContingencies
|
- | USD | Point-in-time |
| Commitments and contingencies (Note 12) |
CommitmentsAndContingencies
|
- | USD | Point-in-time |
| Accumulated other comprehensive income |
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$298.00K | USD | Point-in-time |
| Accumulated other comprehensive income |
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$279.00K | USD | Point-in-time |
| Total Westlake Chemical Partners LP partners' capital |
PartnersCapital
|
$219.81M | USD | Point-in-time |
| Total Westlake Chemical Partners LP partners' capital |
PartnersCapital
|
$219.12M | USD | Point-in-time |
| Noncontrolling interest in Westlake Chemical OpCo LP (OpCo) |
MinorityInterestInLimitedPartnerships
|
$756.21M | USD | Point-in-time |
| Noncontrolling interest in Westlake Chemical OpCo LP (OpCo) |
MinorityInterestInLimitedPartnerships
|
$778.93M | USD | Point-in-time |
| Total equity |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$998.75M | USD | Point-in-time |
| Total equity |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$975.32M | USD | Point-in-time |
| Total equity |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$920.96M | USD | Point-in-time |
| Total equity |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$907.99M | USD | Point-in-time |
| Total liabilities and equity |
LiabilitiesAndStockholdersEquity
|
$1.49B | USD | Point-in-time |
| Total liabilities and equity |
LiabilitiesAndStockholdersEquity
|
$1.52B | USD | Point-in-time |
Income Statement
32 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net salesWestlake |
RevenueFromRelatedParties
|
$235.03M | USD | 1 Quarter |
| Net salesWestlake |
RevenueFromRelatedParties
|
$212.93M | USD | 1 Quarter |
| Net co-product, ethylene and other salesthird parties |
OtherSalesRevenueNet
|
$64.52M | USD | 1 Quarter |
| Net co-product, ethylene and other salesthird parties |
OtherSalesRevenueNet
|
$49.24M | USD | 1 Quarter |
| Total net sales |
SalesRevenueNet
|
$277.45M | USD | 1 Quarter |
| Total net sales |
SalesRevenueNet
|
$284.27M | USD | 1 Quarter |
| Cost of sales |
CostOfGoodsSold
|
$179.49M | USD | 1 Quarter |
| Cost of sales |
CostOfGoodsSold
|
$191.77M | USD | 1 Quarter |
| Gross profit |
GrossProfit
|
$97.96M | USD | 1 Quarter |
| Gross profit |
GrossProfit
|
$92.50M | USD | 1 Quarter |
| Selling, general and administrative expenses |
SellingGeneralAndAdministrativeExpense
|
$7.83M | USD | 1 Quarter |
| Selling, general and administrative expenses |
SellingGeneralAndAdministrativeExpense
|
$7.13M | USD | 1 Quarter |
| Income from operations |
OperatingIncomeLoss
|
$90.13M | USD | 1 Quarter |
| Income from operations |
OperatingIncomeLoss
|
$85.37M | USD | 1 Quarter |
| Interest expenseWestlake |
InterestExpenseRelatedParty
|
$4.87M | USD | 1 Quarter |
| Interest expenseWestlake |
InterestExpenseRelatedParty
|
$5.46M | USD | 1 Quarter |
| Other income, net |
NonoperatingIncomeExpense
|
$491.00K | USD | 1 Quarter |
| Other income, net |
NonoperatingIncomeExpense
|
$1.66M | USD | 1 Quarter |
| Income before income taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
$81.00M | USD | 1 Quarter |
| Income before income taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
$86.33M | USD | 1 Quarter |
| Provision for income taxes |
IncomeTaxExpenseBenefit
|
$283.00K | USD | 1 Quarter |
| Provision for income taxes |
IncomeTaxExpenseBenefit
|
$303.00K | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$86.03M | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$80.71M | USD | 1 Quarter |
| Less: Net income attributable to noncontrolling interest in OpCo |
NetIncomeLossAttributableToNoncontrollingInterest
|
$76.26M | USD | 1 Quarter |
| Less: Net income attributable to noncontrolling interest in OpCo |
NetIncomeLossAttributableToNoncontrollingInterest
|
$68.42M | USD | 1 Quarter |
| Net income attributable to Westlake Chemical Partners LP |
NetIncomeLoss
|
$12.29M | USD | 1 Quarter |
| Net income attributable to Westlake Chemical Partners LP |
NetIncomeLoss
|
$9.76M | USD | 1 Quarter |
| Weighted average limited partner units outstanding (basic and diluted) (in shares) |
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
32.24M | shares | 1 Quarter |
| Weighted average limited partner units outstanding (basic and diluted) (in shares) |
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
27.06M | shares | 1 Quarter |
| Distributions per common unit (usd per share) |
DistributionMadeToLimitedPartnerDistributionsPaidPerUnit
|
$0.39 | USD | 1 Quarter |
| Distributions per common unit (usd per share) |
DistributionMadeToLimitedPartnerDistributionsPaidPerUnit
|
$0.34 | USD | 1 Quarter |
Cash Flow Statement
54 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net income |
ProfitLoss
|
$86.03M | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$80.71M | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationDepletionAndAmortization
|
$30.15M | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationDepletionAndAmortization
|
$27.70M | USD | 1 Quarter |
| Loss (gain) from disposition of property, plant and equipment |
GainLossOnDispositionOfAssets
|
$127.00K | USD | 1 Quarter |
| Loss (gain) from disposition of property, plant and equipment |
GainLossOnDispositionOfAssets
|
$-567.00K | USD | 1 Quarter |
| Other losses (gains), net |
OtherNoncashIncomeExpense
|
$-357.00K | USD | 1 Quarter |
| Other losses (gains), net |
OtherNoncashIncomeExpense
|
$488.00K | USD | 1 Quarter |
| Accounts receivablethird parties |
IncreaseDecreaseInAccountsAndOtherReceivables
|
$8.75M | USD | 1 Quarter |
| Accounts receivablethird parties |
IncreaseDecreaseInAccountsAndOtherReceivables
|
$1.24M | USD | 1 Quarter |
| Net accounts receivableWestlake |
IncreaseDecreaseInAccountsReceivableRelatedParties
|
$-40.01M | USD | 1 Quarter |
| Net accounts receivableWestlake |
IncreaseDecreaseInAccountsReceivableRelatedParties
|
$-737.00K | USD | 1 Quarter |
| Inventories |
IncreaseDecreaseInInventories
|
$842.00K | USD | 1 Quarter |
| Inventories |
IncreaseDecreaseInInventories
|
$-419.00K | USD | 1 Quarter |
| Prepaid expenses and other current assets |
IncreaseDecreaseInPrepaidExpensesAndOtherCurrentAssets
|
$-115.00K | USD | 1 Quarter |
| Prepaid expenses and other current assets |
IncreaseDecreaseInPrepaidExpensesAndOtherCurrentAssets
|
$-153.00K | USD | 1 Quarter |
| Accounts payable |
IncreaseDecreaseInAccountsPayable
|
$5.15M | USD | 1 Quarter |
| Accounts payable |
IncreaseDecreaseInAccountsPayable
|
$-2.83M | USD | 1 Quarter |
| Accrued and other liabilities |
IncreaseDecreaseInAccruedLiabilities
|
$7.46M | USD | 1 Quarter |
| Accrued and other liabilities |
IncreaseDecreaseInAccruedLiabilities
|
$-487.00K | USD | 1 Quarter |
| Other, net |
IncreaseDecreaseInOtherOperatingCapitalNet
|
$9.63M | USD | 1 Quarter |
| Other, net |
IncreaseDecreaseInOtherOperatingCapitalNet
|
$-138.00K | USD | 1 Quarter |
| Cash flows from investing activities |
NetCashProvidedByUsedInOperatingActivities
|
$149.08M | USD | 1 Quarter |
| Cash flows from investing activities |
NetCashProvidedByUsedInOperatingActivities
|
$106.22M | USD | 1 Quarter |
| Additions to property, plant and equipment |
PaymentsToAcquirePropertyPlantAndEquipment
|
$23.17M | USD | 1 Quarter |
| Additions to property, plant and equipment |
PaymentsToAcquirePropertyPlantAndEquipment
|
$9.68M | USD | 1 Quarter |
| Maturities of investments with Westlake under the Investment Management Agreement |
MaturitiesofinvestmentswithWestlakeundertheInvestmentManagementAgreement
|
$112.00M | USD | 1 Quarter |
| Maturities of investments with Westlake under the Investment Management Agreement |
MaturitiesofinvestmentswithWestlakeundertheInvestmentManagementAgreement
|
- | USD | 1 Quarter |
| Investments with Westlake under the Investment Management Agreement |
InvestmentswithWestlakeundertheInvestmentManagementAgreement
|
$110.00M | USD | 1 Quarter |
| Investments with Westlake under the Investment Management Agreement |
InvestmentswithWestlakeundertheInvestmentManagementAgreement
|
- | USD | 1 Quarter |
| Other |
CashProvidedbyUsedinInvestingActivitiesOther
|
$1.68M | USD | 1 Quarter |
| Other |
CashProvidedbyUsedinInvestingActivitiesOther
|
- | USD | 1 Quarter |
| Net cash used for investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-7.68M | USD | 1 Quarter |
| Net cash used for investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-21.49M | USD | 1 Quarter |
| Proceeds from debt payable to Westlake |
ProceedsFromRelatedPartyDebt
|
$3.65M | USD | 1 Quarter |
| Proceeds from debt payable to Westlake |
ProceedsFromRelatedPartyDebt
|
$17.00M | USD | 1 Quarter |
| Repayment of debt payable to Westlake |
RepaymentsOfRelatedPartyDebt
|
$11.42M | USD | 1 Quarter |
| Repayment of debt payable to Westlake |
RepaymentsOfRelatedPartyDebt
|
- | USD | 1 Quarter |
| Quarterly distributions to noncontrolling interest retained in OpCo by Westlake |
PaymentsToMinorityShareholders
|
$89.62M | USD | 1 Quarter |
| Quarterly distributions to noncontrolling interest retained in OpCo by Westlake |
PaymentsToMinorityShareholders
|
$91.15M | USD | 1 Quarter |
| Quarterly distributions to unitholders |
DistributionMadeToLimitedPartnerCashDistributionsPaid
|
$13.07M | USD | 1 Quarter |
| Quarterly distributions to unitholders |
DistributionMadeToLimitedPartnerCashDistributionsPaid
|
$9.48M | USD | 1 Quarter |
| Net cash used for financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$-93.52M | USD | 1 Quarter |
| Net cash used for financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$-100.57M | USD | 1 Quarter |
| Net increase (decrease) in cash and cash equivalents |
CashAndCashEquivalentsPeriodIncreaseDecrease
|
$-2.03M | USD | 1 Quarter |
| Net increase (decrease) in cash and cash equivalents |
CashAndCashEquivalentsPeriodIncreaseDecrease
|
$34.07M | USD | 1 Quarter |
| Cash and cash equivalents at beginning of period |
CashAndCashEquivalentsAtCarryingValue
|
$122.97M | USD | Point-in-time |
| Cash and cash equivalents at beginning of period |
CashAndCashEquivalentsAtCarryingValue
|
$24.98M | USD | Point-in-time |
| Cash and cash equivalents at beginning of period |
CashAndCashEquivalentsAtCarryingValue
|
$27.01M | USD | Point-in-time |
| Cash and cash equivalents at beginning of period |
CashAndCashEquivalentsAtCarryingValue
|
$88.90M | USD | Point-in-time |
| Cash and cash equivalents at end of period |
CashAndCashEquivalentsAtCarryingValue
|
$122.97M | USD | Point-in-time |
| Cash and cash equivalents at end of period |
CashAndCashEquivalentsAtCarryingValue
|
$24.98M | USD | Point-in-time |
| Cash and cash equivalents at end of period |
CashAndCashEquivalentsAtCarryingValue
|
$27.01M | USD | Point-in-time |
| Cash and cash equivalents at end of period |
CashAndCashEquivalentsAtCarryingValue
|
$88.90M | USD | Point-in-time |
Stockholders Equity
17 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Equity, beginning balance |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$998.75M | USD | Point-in-time |
| Equity, beginning balance |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$975.32M | USD | Point-in-time |
| Equity, beginning balance |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$920.96M | USD | Point-in-time |
| Equity, beginning balance |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$907.99M | USD | Point-in-time |
| Net income |
ProfitLoss
|
$86.03M | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$80.71M | USD | 1 Quarter |
| Net effect of cash flow hedge |
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
|
$89.00K | USD | 1 Quarter |
| Net effect of cash flow hedge |
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
|
$19.00K | USD | 1 Quarter |
| Units issued for vested phantom units |
StockIssuedDuringPeriodValueShareBasedCompensationGross
|
$60.00K | USD | 1 Quarter |
| Quarterly distributions to unitholders |
LimitedPartnersCapitalAccountDistributionAmount
|
$13.07M | USD | 1 Quarter |
| Quarterly distributions to unitholders |
LimitedPartnersCapitalAccountDistributionAmount
|
$9.48M | USD | 1 Quarter |
| Quarterly distribution to noncontrolling interest retained in OpCo by Westlake |
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
|
$89.62M | USD | 1 Quarter |
| Quarterly distribution to noncontrolling interest retained in OpCo by Westlake |
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
|
$91.15M | USD | 1 Quarter |
| Equity, ending balance |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$998.75M | USD | Point-in-time |
| Equity, ending balance |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$975.32M | USD | Point-in-time |
| Equity, ending balance |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$920.96M | USD | Point-in-time |
| Equity, ending balance |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$907.99M | USD | Point-in-time |
Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.