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Distributions and Net Income Per Limited Partner Unit
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Distributions and Net Income Per Limited Partner Unit Distributions and Net Income Per Limited Partner Unit
On January 27, 2026, the board of directors of Westlake Chemical Partners GP LLC ("Westlake GP"), the Partnership's general partner, declared a quarterly cash distribution for the period from October 1, 2025 to December 31, 2025 of $0.4714 per common unit. This distribution was paid on February 23, 2026 to unitholders of record as of February 6, 2026.
Distributions are declared subsequent to quarter end; therefore, the table below represents total cash distributions declared from earnings of the related periods pertaining to such distributions.
Year Ended December 31,
202520242023
Net income attributable to the Partnership$48,698 $62,392 $54,283 
Less:
Limited partners' distribution declared on common units66,453 66,437 66,421 
Distribution in excess of net income
$(17,755)$(4,045)$(12,138)
Net income per unit applicable to common limited partner units is computed by dividing the respective limited partners' interest in net income by the weighted-average number of common units outstanding for the period. Because the Partnership has more than one class of participating securities, it uses the two-class method when calculating the net income per unit applicable to limited partners. The classes of participating securities include common units and incentive distribution rights. Net income attributable to the Partnership is allocated to the unitholders in accordance with their respective ownership percentages in preparation of the consolidated statements of changes in equity. However, when distributions related to the incentive distribution rights are made, net income equal to the amount of those distributions is first allocated to the general partner before the remaining net income is allocated to the unitholders based on their respective ownership percentages. Basic and diluted net income per unit is the same because the Partnership does not have any potentially dilutive units outstanding for the periods presented.
Year Ended December 31, 2025
Limited Partners' Common UnitsIncentive Distribution RightsTotal
Net income attributable to the Partnership:
Distribution$66,453 $— $66,453 
Distribution in excess of net income(17,755)— (17,755)
Net income $48,698 $— $48,698 
Weighted average units outstanding:
Basic and diluted35,241,505 35,241,505 
Net income per limited partner unit:
Basic and diluted$1.38 
Year Ended December 31, 2024
Limited Partners' Common UnitsIncentive Distribution RightsTotal
Net income attributable to the Partnership:
Distribution$66,437 $— $66,437 
Distribution in excess of net income
(4,045)— (4,045)
Net income$62,392 $— $62,392 
Weighted average units outstanding:
Basic and diluted35,232,870 35,232,870 
Net income per limited partner unit:
Basic and diluted$1.77 
Year Ended December 31, 2023
Limited Partners' Common UnitsIncentive Distribution RightsTotal
Net income attributable to the Partnership:
Distribution$66,421 $— $66,421 
Distribution in excess of net income
(12,138)— (12,138)
Net income$54,283 $— $54,283 
Weighted average units outstanding:
Basic and diluted35,224,340 35,224,340 
Net income per limited partner unit:
Basic and diluted$1.54 
The amended Partnership Agreement provides that the Partnership will distribute cash that is deemed to be an appropriate portion of the Partnership's total operating surplus. If cash distributions to the Partnership's unitholders exceed $1.2938 per common unit in any quarter, the Partnership's unitholders and Westlake, as the holder of the Partnership's incentive distribution rights, will receive distributions according to the following percentage allocations:
Marginal Percentage Interest in Distributions
Total Quarterly Distribution Per UnitUnitholdersIDR Holders
Above $1.2938 up to $1.4063
85.0 %15.0 %
Above $1.4063 up to $1.6875
75.0 %25.0 %
Above $1.6875
50.0 %50.0 %
The Partnership's distribution for each quarter in the year ended December 31, 2025 did not exceed the $1.2938 per unit threshold, and, as a result, no distribution was made with respect to the Partnership's incentive distribution rights to Westlake, as the holder of the Partnership's incentive distribution rights.
Distribution Per Common Unit
Distributions per common unit for the years ended December 31, 2025, 2024 and 2023 were as follows:
Year Ended December 31,
202520242023
Distributions per common unit$1.8856 $1.8856 $1.8856