Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents	$ 1,313	$ 728
Accounts receivable, net	1,214	1,036
Inventories	918	936
Prepaid expenses and other current assets	32	42
Total current assets	3,477	2,742
Property, plant and equipment, net	6,920	6,912
Operating lease right-of-use assets	461	443
Goodwill	1,083	1,074
Other intangible assets, net	168	187
Equity Method Investments	1,059	1,112
Other assets, net	223	268
Total assets	13,835	13,261
Current liabilities
Accounts payable	536	473
Accrued and other liabilities	821	768
Total current liabilities	1,357	1,241
Long-term debt, net	3,566	3,445
Deferred income taxes	1,368	1,255
Pension and other post-retirement benefits	391	360
Operating lease liabilities	376	355
Other liabilities	199	202
Total liabilities	7,257	6,858
Stockholders' equity
Preferred stock, $0.01 par value, 50,000,000 shares authorized; no shares issued and outstanding	0	0
Common stock, $0.01 par value, 300,000,000 shares authorized; 134,651,380 and 134,651,380 shares issued at December 31, 2020 and 2019, respectively	1	1
Common stock, held in treasury, at cost; 6,821,174 and 6,266,609 shares at December 31, 2020 and 2019, respectively	(401)	(377)
Additional paid-in capital	569	553
Retained earnings	5,938	5,757
Accumulated other comprehensive loss	(64)	(74)
Total Westlake Chemical Corporation stockholders' equity	6,043	5,860
Noncontrolling interests	535	543
Total equity	6,578	6,403
Total liabilities and equity	$ 13,835	$ 13,261
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value per share (in dollars per share)	$ 0.01	$ 0.01
Common Stock, shares authorized	300,000,000	300,000,000
Common Stock, Shares	134,651,380	134,651,380
Treasury Stock, Shares	6,821,174	6,266,609

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).