SEC Filings

10-Q
WESTLAKE CHEMICAL CORP filed this Form 10-Q on 05/03/2018
Entire Document
 

WESTLAKE CHEMICAL CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—Continued
(Unaudited)
(in millions of dollars, except share amounts and per share data)

Condensed Consolidating Financial Information as of December 31, 2017
 
 
Westlake
Chemical
Corporation
 
100% Owned
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Balance Sheet
 
 
 
 
 
 
 
 
 
 
Current assets
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
1,089

 
$
57

 
$
385

 
$

 
$
1,531

Accounts receivable, net
 
3,331

 
4,128

 
580

 
(7,038
)
 
1,001

Inventories
 

 
654

 
246

 

 
900

Prepaid expenses and other current assets
 
52

 
27

 
31

 
(79
)
 
31

Total current assets
 
4,472

 
4,866

 
1,242

 
(7,117
)
 
3,463

Property, plant and equipment, net
 

 
4,374

 
2,038

 

 
6,412

Goodwill
 

 
855

 
157

 

 
1,012

Customer relationships, net
 

 
479

 
137

 

 
616

Other intangible assets, net
 

 
88

 
73

 

 
161

Other assets, net
 
10,706

 
798

 
1,271

 
(12,363
)
 
412

Total assets
 
$
15,178

 
$
11,460

 
$
4,918

 
$
(19,480
)
 
$
12,076

Current liabilities
 
 
 
 
 
 
 
 
 
 
Accounts payable
 
$
6,367

 
$
864

 
$
224

 
$
(6,855
)
 
$
600

Accrued liabilities
 
189

 
484

 
246

 
(262
)
 
657

Current portion of long-term debt, net
 
710

 

 

 

 
710

Total current liabilities
 
7,266

 
1,348

 
470

 
(7,117
)
 
1,967

Long-term debt, net
 
3,034

 
4,242

 
220

 
(4,369
)
 
3,127

Deferred income taxes
 

 
1,026

 
92

 
(7
)
 
1,111

Pension and other liabilities
 
4

 
347

 
151

 

 
502

Total liabilities
 
10,304

 
6,963

 
933

 
(11,493
)
 
6,707

Total Westlake Chemical Corporation
   stockholders' equity
 
4,874

 
4,497

 
3,490

 
(7,987
)
 
4,874

Noncontrolling interests
 

 

 
495

 

 
495

Total equity
 
4,874

 
4,497

 
3,985

 
(7,987
)
 
5,369

Total liabilities and equity
 
$
15,178

 
$
11,460

 
$
4,918

 
$
(19,480
)
 
$
12,076

 

 

22