XML 50 R40.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Derivative Instruments (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Fair Values of Derivatives Instruments in Consolidated Balance Sheets | The fair values of derivative instruments reflected in the Company's consolidated balance sheets were as follows:
|  | Asset Derivatives
|  | Balance Sheet Location |  | Fair Value as of
|  | March 31, 2017 |  | December 31, 2016
Not designated as hedging instruments |  |  |  |  |  |
Commodity forward contracts |  | Accounts receivable, net |  | $ | 3,124 |  |  | $ | 7,589 |
Commodity forward contracts |  | Deferred charges and other assets, net |  | 2,246 |  |  | 5,249 |
Total asset derivatives |  |  |  | $ | 5,370 |  |  | $ | 12,838 |
|  | Liability Derivatives
|  | Balance Sheet Location |  | Fair Value as of
|  | March 31, 2017 |  | December 31, 2016
Not designated as hedging instruments |  |  |  |  |  |
Commodity forward contracts |  | Accrued liabilities |  | $ | 1,048 |  |  | $ | 1,349 |
Commodity forward contracts |  | Other liabilities |  | 5,115 |  |  | 3,724 |
Total liability derivatives |  |  |  | $ | 6,163 |  |  | $ | 5,073 |
Impact of Derivative Instruments Not Designated as Fair Value Hedges | The impact of derivative instruments that have not been designated as hedges on the Company's consolidated statements of operations were as follows:
Derivatives Not Designated as Hedging Instruments |  | Location of Gain (Loss) Recognized in Income on Derivative |  | Three Months Ended March 31,
2017 |  | 2016
Commodity forward contracts |  | Cost of sales |  | $ | (9,167 | ) |  | $ | 4,057 |
ImpactofDerivativesNetInConsolidatedBalanceSheet [Table Text Block] |
|  | March 31, 2017
|  | Net Presentation |  | Gross Presentation
|  | Net Assets (Liabilities) Presented in the Consolidated Balance Sheets | Risk management assets—Commodity forward contracts |  | Risk management liabilities—Commodity forward contracts
Accounts receivable, net |  |  |  |  |  |
Derivative positions subject to enforceable master netting arrangements |  | $ | 520 |  |  | $ | 1,049 |  |  | $ | (529 | )
Derivative positions not subject to enforceable master netting arrangements |  | 2,604 |  |  | 2,604 |  |  | — |
|  | 3,124 |  |  | 3,653 |  |  | (529 | )
Deferred charges and other assets, net |  |  |  |  |  |
Derivative positions subject to enforceable master netting arrangements |  | — |  |  | — |  |  | — |
Derivative positions not subject to enforceable master netting arrangements |  | 2,246 |  |  | 2,246 |  |  | — |
|  | 2,246 |  |  | 2,246 |  |  | — |
Accrued liabilities |  |  |  |  |  |
Derivative positions subject to enforceable master netting arrangements |  | — |  |  | — |  |  | — |
Derivative positions not subject to enforceable master netting arrangements |  | (1,048 | ) |  | — |  |  | (1,048 | )
|  | (1,048 | ) |  | — |  |  | (1,048 | )
Other liabilities |  |  |  |  |  |
Derivative positions subject to enforceable master netting arrangements |  | (1,629 | ) |  | 978 |  |  | (2,607 | )
Derivative positions not subject to enforceable master netting arrangements |  | (3,486 | ) |  | — |  |  | (3,486 | )
|  | (5,115 | ) |  | 978 |  |  | (6,093 | )
Risk management assets (liabilities)—Commodity forward contracts |  |  |  | $ | 6,877 |  |  | $ | (7,670 | )
|  | December 31, 2016
|  | Net Presentation |  | Gross Presentation
|  | Net Assets (Liabilities) Presented in the Consolidated Balance Sheets | Risk management assets—Commodity forward contracts |  | Risk management liabilities—Commodity forward contracts
Accounts receivable, net |  |  |  |  |  |
Derivative positions subject to enforceable master netting arrangements |  | $ | 1,498 |  |  | $ | 1,636 |  |  | $ | (138 | )
Derivative positions not subject to enforceable master netting arrangements |  | 6,091 |  |  | 6,091 |  |  | — |
|  | 7,589 |  |  | 7,727 |  |  | (138 | )
Deferred charges and other assets, net |  |  |  |  |  |
Derivative positions subject to enforceable master netting arrangements |  | — |  |  | — |  |  | — |
Derivative positions not subject to enforceable master netting arrangements |  | 5,249 |  |  | 5,249 |  |  | — |
|  | 5,249 |  |  | 5,249 |  |  | — |
Accrued liabilities |  |  |  |  |  |
Derivative positions subject to enforceable master netting arrangements |  | — |  |  | — |  |  | — |
Derivative positions not subject to enforceable master netting arrangements |  | (1,349 | ) |  | — |  |  | (1,349 | )
|  | (1,349 | ) |  | — |  |  | (1,349 | )
Other liabilities |  |  |  |  |  |
Derivative positions subject to enforceable master netting arrangements |  | (436 | ) |  | 2,010 |  |  | (2,446 | )
Derivative positions not subject to enforceable master netting arrangements |  | (3,288 | ) |  | — |  |  | (3,288 | )
|  | (3,724 | ) |  | 2,010 |  |  | (5,734 | )
Risk management assets (liabilities)—Commodity forward contracts |  |  |  | $ | 14,986 |  |  | $ | (7,221 | )

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624163-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for other derivative instruments not designated as hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of pro forma impact of derivatives net in the Consolidated Balance Sheet. + References No definition available. + Details
Name: | wlk_ImpactofDerivativesNetInConsolidatedBalanceSheetTableTextBlock
Namespace Prefix: | wlk_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration