Guarantor Disclosures (Tables)

12 Months Ended

Dec. 31, 2011

Dec. 31, 2010

Dec. 31, 2009

Condensed Consolidating Financial Information Balance Sheet


	Westlake Chemical Corporation		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated
Balance Sheet
Current assets
Cash and cash equivalents	$	803,320	$	2,517	$	20,064	$	—		$	825,901
Accounts receivable, net		—		1,384,705		949		(978,282	)		407,372
Inventories		—		478,229		12,548		—			490,777
Prepaid expenses and other current assets		363		10,332		1,800		—			12,495
Deferred income taxes		430		19,049		132		—			19,611

Total current assets		804,113		1,894,832		35,493		(978,282	)		1,756,156
Property, plant and equipment, net		—		1,223,073		8,993		—			1,232,066
Equity investments		2,597,598		53,912		35,650		(2,640,419	)		46,741
Restricted cash		96,283		—		—		—			96,283
Other assets, net		17,650		132,968		2,467		(17,510	)		135,575

Total assets	$	3,515,644	$	3,304,785	$	82,603	$	(3,636,211	)	$	3,266,821

Current liabilities
Accounts payable	$	1,005,529	$	210,476	$	3,748	$	(992,719	)	$	227,034
Accrued liabilities		76		120,656		2,392		14,437			137,561

Total current liabilities		1,005,605		331,132		6,140		(978,282	)		364,595
Long-term debt		753,674		10,889		11,500		(11,500	)		764,563
Deferred income taxes		—		336,165		636		(6,010	)		330,791
Other liabilities		53		50,458		49		—			50,560
Stockholders' equity		1,756,312		2,576,141		64,278		(2,640,419	)		1,756,312

Total liabilities and stockholders' equity	$	3,515,644	$	3,304,785	$	82,603	$	(3,636,211	)	$	3,266,821


	Westlake Chemical Corporation		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated
Balance Sheet
Current assets
Cash and cash equivalents	$	611,158	$	53	$	19,088	$	—		$	630,299
Accounts receivable, net		128,628		1,302,314		2,086		(1,070,165	)		362,863
Inventories		—		437,130		12,898		—			450,028
Prepaid expenses and other current assets		162		13,763		1,557		—			15,482
Deferred income taxes		357		16,771		160		—			17,288

Total current assets		740,305		1,770,031		35,789		(1,070,165	)		1,475,960
Property, plant and equipment, net		—		1,159,051		11,283		—			1,170,334
Equity investments		2,320,094		53,274		35,588		(2,362,642	)		46,314
Restricted cash		150,288		—		—		—			150,288
Other assets, net		16,897		108,352		3,769		(17,770	)		111,248

Total assets	$	3,227,584	$	3,090,708	$	86,429	$	(3,450,577	)	$	2,954,144

Current liabilities
Accounts payable	$	952,000	$	189,852	$	4,541	$	(941,619	)	$	204,774
Accrued liabilities		16,868		228,364		2,121		(128,549	)		118,804

Total current liabilities		968,868		418,216		6,662		(1,070,168	)		323,578
Long-term debt		753,593		10,889		11,500		(11,500	)		764,482
Deferred income taxes		—		320,813		972		(6,267	)		315,518
Other liabilities		53		45,435		8		—			45,496
Stockholders' equity		1,505,070		2,295,355		67,287		(2,362,642	)		1,505,070

Total liabilities and stockholders' equity	$	3,227,584	$	3,090,708	$	86,429	$	(3,450,577	)	$	2,954,144

Condensed Consolidating Financial Information Statement Of Operations


	Westlake Chemical Corporation			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Statement of Operations
Net sales	$	—		$	3,581,470		$	42,202		$	(3,824	)	$	3,619,848
Cost of sales		—			3,024,419			40,247			(3,824	)		3,060,842

Gross profit		—			557,051			1,955			—			559,006
Selling, general and administrative expenses		3,762			102,989			5,459			—			112,210

(Loss) income from operations		(3,762	)		454,062			(3,504	)		—			446,796
Interest expense		(50,919	)		(73	)		—			—			(50,992	)
Other income (expense), net		10,217			(4,212	)		(377	)		—			5,628

(Loss) income before income taxes		(44,464	)		449,777			(3,881	)		—			401,432
(Benefit from) provision for income taxes		(11,835	)		155,313			(1,012	)		—			142,466
Equity in net income of subsidiaries		291,595			—			—			(291,595	)		—

Net income (loss)	$	258,966		$	294,464		$	(2,869	)	$	(291,595	)	$	258,966


	Westlake Chemical Corporation			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Consolidated
Statement of Operations
Net sales	$	—		$	3,130,513		$	44,006	$	(2,732	)	$	3,171,787
Cost of sales		—			2,653,234			38,602		(2,732	)		2,689,104

Gross profit		—			477,279			5,404		—			482,683
Selling, general and administrative expenses		4,257			95,441			4,621		—			104,319

(Loss) income from operations		(4,257	)		381,838			783		—			378,364
Interest expense		(39,829	)		(46	)		—		—			(39,875	)
Other income (expense), net		15,045			(12,715	)		2,141		—			4,471

(Loss) income before income taxes		(29,041	)		369,077			2,924		—			342,960
(Benefit from) provision for income taxes		(2,471	)		122,541			1,497		—			121,567
Equity in net income of subsidiaries		247,963			—			—		(247,963	)		—

Net income	$	221,393		$	246,536		$	1,427	$	(247,963	)	$	221,393


	Westlake Chemical Corporation			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Consolidated
Statement of Operations
Net sales	$	—		$	2,289,953		$	38,980	$	(3,210	)	$	2,325,723
Cost of sales		—			2,099,795			34,010		(3,210	)		2,130,595

Gross profit		—			190,158			4,970		—			195,128
Selling, general and administrative expenses		4,185			80,213			3,473		—			87,871

(Loss) income from operations		(4,185	)		109,945			1,497		—			107,257
Interest expense		(34,864	)		(93	)		—		—			(34,957	)
Other income (expense), net		14,843			(12,981	)		4,591		—			6,453

(Loss) income before income taxes		(24,206	)		96,871			6,088		—			78,753
(Benefit from) provision for income taxes		(6,314	)		31,620			452		—			25,758
Equity in net income of subsidiaries		70,887			—			—		(70,887	)		—

Net income	$	52,995		$	65,251		$	5,636	$	(70,887	)	$	52,995

Condensed Consolidating Financial Information Statement Of Cash Flows


	Westlake Chemical Corporation			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Statement of Cash Flows
Cash flows from operating activities
Net income (loss)	$	258,966		$	294,464		$	(2,869	)	$	(291,595	)	$	258,966
Adjustments to reconcile net income (loss) to net cash (used for) provided by operating activities
Depreciation and amortization		1,683			127,807			3,590			—			133,080
Deferred income taxes		190			14,225			(301	)		—			14,114
Net changes in working capital and other		(291,666	)		(45,667	)		1,874			291,595			(43,864	)

Net cash (used for) provided by operating activities		(30,827	)		390,829			2,294			—			362,296
Cash flows from investing activities
Additions to property, plant and equipment		—			(175,706	)		(1,137	)		—			(176,843	)
Proceeds from disposition of assets		—			2,877			3			—			2,880
Proceeds from repayment of loan to affiliate		—			—			1,192			—			1,192
Purchase of securities and other investments		—			(30,265	)		—			—			(30,265	)
Settlements of derivative instruments		—			251			—			—			251

Net cash (used for) provided by investing activities		—			(202,843	)		58			—			(202,785	)
Cash flows from financing activities
Intercompany financing		186,898			(185,522	)		(1,376	)		—			—
Capitalized debt issuance costs		(2,697	)		—			—			—			(2,697	)
Dividends paid		(18,265	)		—			—			—			(18,265	)
Proceeds from exercise of stock options		5,344			—			—			—			5,344
Repurchase of common stock for treasury		(2,518	)		—			—			—			(2,518	)
Utilization of restricted cash		54,227			—			—			—			54,227

Net cash provided by (used for) financing activities		222,989			(185,522	)		(1,376	)		—			36,091
Net increase in cash and cash equivalents		192,162			2,464			976			—			195,602
Cash and cash equivalents at beginning of the year		611,158			53			19,088			—			630,299

Cash and cash equivalents at end of the year	$	803,320		$	2,517		$	20,064		$	—		$	825,901


	Westlake Chemical Corporation			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Statement of Cash Flows
Cash flows from operating activities
Net income	$	221,393		$	246,536		$	1,427		$	(247,963	)	$	221,393
Adjustments to reconcile net income to net cash (used for) provided by operating activities
Depreciation and amortization		2,154			125,002			3,730			—			130,886
Deferred income taxes		7,864			6,048			241			—			14,153
Net changes in working capital and other		(245,113	)		(87,299	)		1,301			247,963			(83,148	)

Net cash (used for) provided by operating activities		(13,702	)		290,287			6,699			—			283,284
Cash flows from investing activities
Additions to equity investments		—			(10,177	)		—			—			(10,177	)
Additions to property, plant and equipment		—			(79,928	)		(1,341	)		—			(81,269	)
Proceeds from disposition of assets		—			914			—			—			914
Proceeds from repayment of loan to affiliate		—			—			763			—			763
Settlements of derivative instruments		—			9,494			—			—			9,494

Net cash used for investing activities		—			(79,697	)		(578	)		—			(80,275	)
Cash flows from financing activities
Intercompany financing		210,360			(210,614	)		254			—			—
Capitalized debt issuance costs		(3,331	)		—			—			—			(3,331	)
Dividends paid		(16,014	)		—			—			—			(16,014	)
Proceeds from exercise of stock options		3,745			—			—			—			3,745
Utilization of restricted cash		197,298			—			—			—			197,298

Net cash provided by (used for) financing activities		392,058			(210,614	)		254			—			181,698
Net increase (decrease) in cash and cash equivalents		378,356			(24	)		6,375			—			384,707
Cash and cash equivalents at beginning of the year		232,802			77			12,713			—			245,592

Cash and cash equivalents at end of the year	$	611,158		$	53		$	19,088		$	—		$	630,299


	Westlake Chemical Corporation			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Statement of Cash Flows
Cash flows from operating activities
Net income	$	52,995		$	65,251		$	5,636		$	(70,887	)	$	52,995
Adjustments to reconcile net income to net cash (used for) provided by operating activities
Depreciation and amortization		1,461			119,296			3,903			—			124,660
Deferred income taxes		2,086			27,113			2,008			—			31,207
Net changes in working capital and other		(72,567	)		27,731			609			70,887			26,660

Net cash (used for) provided by operating activities		(16,025	)		239,391			12,156			—			235,522
Cash flows from investing activities
Acquisition of business		—			(6,297	)		—			—			(6,297	)
Additions to property, plant and equipment		—			(98,555	)		(1,214	)		—			(99,769	)
Proceeds from disposition of assets		—			3,255			—			—			3,255
Proceeds from insurance for involuntary conversion of assets		—			484			—			—			484
Settlements of derivative instruments		—			(859	)		—			—			(859	)

Net cash used for investing activities		—			(101,972	)		(1,214	)		—			(103,186	)
Cash flows from financing activities
Intercompany financing		137,442			(137,411	)		(31	)		—			—
Capitalized debt issuance costs		(2,203	)		—			—			—			(2,203	)
Dividends paid		(14,510	)		—			—			—			(14,510	)
Proceeds from exercise of stock options		879			—			—			—			879
Utilization of restricted cash		38,851			—			—			—			38,851

Net cash provided by (used for) financing activities		160,459			(137,411	)		(31	)		—			23,017
Net increase in cash and cash equivalents		144,434			8			10,911			—			155,353
Cash and cash equivalents at beginning of the year		88,368			69			1,802			—			90,239

Cash and cash equivalents at end of the year	$	232,802		$	77		$	12,713		$	—		$	245,592