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 for the Three Months Ended March 31, 2018
 
 
Westlake
Chemical
Corporation
 
100% Owned
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Statement of Operations
 
 
 
 
 
 
 
 
 
 
Net sales
 
$

 
$
1,746

 
$
839

 
$
(435
)
 
$
2,150

Cost of sales
 

 
1,405

 
632

 
(429
)
 
1,608

Gross profit
 

 
341

 
207

 
(6
)
 
542

Selling, general and administrative expenses
 

 
77

 
37

 
(6
)
 
108

Amortization of intangibles
 

 
19

 
7

 

 
26

Transaction and integration-related costs
 

 
7

 

 

 
7

Income from operations
 

 
238

 
163

 

 
401

Other income (expense)
 
 
 
 
 
 
 
 
 
 
Interest expense
 
(38
)
 
(32
)
 
(11
)
 
44

 
(37
)
Other income (expense), net
 
45

 
(8
)
 
29

 
(44
)
 
22

Income before income taxes
 
7

 
198

 
181

 

 
386

Provision for income taxes
 
2

 
63

 
24

 

 
89

Equity in net income of subsidiaries
 
282

 

 

 
(282
)
 

Net income
 
287

 
135

 
157

 
(282
)
 
297

Net income attributable to noncontrolling
   interests
 

 

 
10

 

 
10

Net income attributable to Westlake Chemical
   Corporation
 
$
287

 
$
135

 
$
147

 
$
(282
)
 
$
287

Comprehensive income attributable to
   Westlake Chemical Corporation
 
$
283

 
$
135

 
$
145

 
$
(280
)
 
$
283


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