XML 51 R41.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Fair Value Measurements (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2017
Fair Value Disclosures [Abstract] |
Summary Of Assets And Liabilities Accounted At Fair Value On A Recurring Basis | The following tables summarize, by level within the fair value hierarchy, the Company's assets and liabilities that were accounted for at fair value on a recurring basis:
|  | March 31, 2017
|  | Level 1 |  | Level 2 |  | Total
Derivative instruments |  |  |  |  |  |
Risk management assets—Commodity forward contracts |  | $ | 406 |  |  | $ | 6,471 |  |  | $ | 6,877 |
Risk management liabilities—Commodity forward contracts |  | (6,710 | ) |  | (960 | ) |  | (7,670 | )
|  | December 31, 2016
|  | Level 1 |  | Level 2 |  | Total
Derivative instruments |  |  |  |  |  |
Risk management assets—Commodity forward contracts |  | $ | 878 |  |  | $ | 14,108 |  |  | $ | 14,986 |
Risk management liabilities—Commodity forward contracts |  | (6,854 | ) |  | (367 | ) |  | (7,221 | )
Summary Of Carrying And Fair Values Of Long-Term Debt | The carrying and fair values of the Company's long-term debt are summarized in the table below. The fair value of the Company's long-term debt instruments is determined using a market approach, based upon quotes from financial reporting services. Because the Company's long-term debt instruments may not be actively traded, the inputs used to measure the fair value of the Company's long-term debt are classified as Level 2 inputs within the fair value hierarchy.
|  | March 31, 2017 |  | December 31, 2016
|  | Carrying Value |  | Fair Value |  | Carrying Value |  | Fair Value
Revolving credit facility |  | $ | 250,000 |  |  | $ | 250,000 |  |  | $ | 325,000 |  |  | $ | 325,000 |
4.625% Westlake 2021 Senior Notes |  | 624,793 |  |  | 649,354 |  |  | 651,630 |  |  | 650,847 |
4.625% Subsidiary 2021 Senior Notes |  | 63,207 |  |  | 65,639 |  |  | 66,069 |  |  | 65,775 |
3.60% senior notes due 2022 |  | 250,000 |  |  | 254,443 |  |  | 248,109 |  |  | 251,725 |
4.875% Westlake 2023 Senior Notes |  | 433,793 |  |  | 451,761 |  |  | 447,224 |  |  | 451,301 |
4.875% Subsidiary 2023 Senior Notes |  | 16,207 |  |  | 16,873 |  |  | 16,747 |  |  | 16,501 |
3.60% 2026 Senior Notes |  | 750,000 |  |  | 735,870 |  |  | 739,243 |  |  | 722,055 |
Loan related to tax-exempt waste disposal revenue bonds due 2027 |  | 10,889 |  |  | 10,889 |  |  | 10,889 |  |  | 10,889 |
6 ½% senior notes due 2029 |  | 100,000 |  |  | 110,000 |  |  | 99,084 |  |  | 112,433 |
6 ¾% senior notes due 2032 |  | 250,000 |  |  | 258,760 |  |  | 248,117 |  |  | 258,818 |
6 ½% 2035 GO Zone Senior Notes |  | 89,000 |  |  | 101,760 |  |  | 88,161 |  |  | 100,323 |
6 ½% 2035 IKE Zone Senior Notes |  | 65,000 |  |  | 74,298 |  |  | 64,398 |  |  | 73,270 |
5.0% 2046 Senior Notes |  | 700,000 |  |  | 717,864 |  |  | 673,983 |  |  | 691,712 |

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13476-108611 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13467-108611 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6447952&loc=d3e13220-108610 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13433-108611 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration