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Guarantor Disclosures (Tables)
12 Months Ended
Dec. 31, 2015
Guarantor Disclosures [Abstract]  
Condensed Consolidating Financial Information Balance Sheet
Condensed Consolidating Financial Information as of December 31, 2015
 
 
Westlake
Chemical
Corporation
 
100% Owned
Guarantor
Subsidiaries
 
OpCo
(Less Than
100% Owned
Guarantor
Subsidiary)
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Balance Sheet
 
 
 
 
 
 
 
 
 
 
 
 
Current assets
 
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
303,131

 
$
6,828

 
$
163,430

 
$
189,136

 
$

 
$
662,525

Marketable securities
 
520,144

 

 

 

 

 
520,144

Accounts receivable, net
 
10,943

 
2,183,276

 
51,582

 
113,321

 
(1,850,590
)
 
508,532

Inventories
 

 
326,588

 
3,879

 
103,593

 

 
434,060

Prepaid expenses and other current assets
 
2,201

 
12,166

 
267

 
2,734

 
(2,879
)
 
14,489

Deferred income taxes
 
702

 
32,787

 

 
1,950

 

 
35,439

Total current assets
 
837,121

 
2,561,645

 
219,158

 
410,734

 
(1,853,469
)
 
2,175,189

Property, plant and equipment, net
 

 
1,567,897

 
1,020,469

 
415,701

 

 
3,004,067

Equity investments
 
4,991,167

 
1,207,679

 

 
469,915

 
(6,659,553
)
 
9,208

Other assets, net
 
17,896

 
450,428

 
44,157

 
129,539

 
(255,232
)
 
386,788

Total assets
 
$
5,846,184

 
$
5,787,649

 
$
1,283,784

 
$
1,425,889

 
$
(8,768,254
)
 
$
5,575,252

Current liabilities
 
 
 
 
 
 
 

 
 
 
 
Accounts and notes payable
 
$
1,817,963

 
$
121,820

 
$
33,901

 
$
87,510

 
$
(1,825,865
)
 
$
235,329

Accrued liabilities
 
9,117

 
195,785

 
21,873

 
88,142

 
(27,604
)
 
287,313

Total current liabilities
 
1,827,080

 
317,605

 
55,774

 
175,652

 
(1,853,469
)
 
522,642

Long-term debt
 
753,226

 
10,889

 
248,665

 

 
(248,665
)
 
764,115

Deferred income taxes
 

 
532,837

 
1,392

 
47,941

 
(6,567
)
 
575,603

Other liabilities
 

 
49,334

 

 
101,627

 

 
150,961

Total liabilities
 
2,580,306

 
910,665

 
305,831

 
325,220

 
(2,108,701
)
 
2,013,321

Total Westlake Chemical Corporation stockholders' equity
 
3,265,878

 
4,876,984

 
977,953

 
804,616

 
(6,659,553
)
 
3,265,878

Noncontrolling interests
 

 

 

 
296,053

 

 
296,053

Total equity
 
3,265,878

 
4,876,984

 
977,953

 
1,100,669

 
(6,659,553
)
 
3,561,931

Total liabilities and equity
 
$
5,846,184

 
$
5,787,649

 
$
1,283,784

 
$
1,425,889

 
$
(8,768,254
)
 
$
5,575,252


Condensed Consolidating Financial Information as of December 31, 2014
 
 
Westlake
Chemical
Corporation
 
100% Owned
Guarantor
Subsidiaries
 
OpCo
(Less Than
100% Owned
Guarantor
Subsidiary)
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Balance Sheet
 
 
 
 
 
 
 
 
 
 
 
 
Current assets
 
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
655,947

 
$
3,057

 
$
131,545

 
$
90,052

 
$

 
$
880,601

Accounts receivable, net
 
8,451

 
1,454,709

 
56,049

 
135,133

 
(1,093,676
)
 
560,666

Inventories
 

 
414,975

 
6,634

 
104,167

 

 
525,776

Prepaid expenses and other current assets
 
172

 
9,485

 
212

 
1,938

 

 
11,807

Deferred income taxes
 
409

 
29,832

 

 
2,196

 

 
32,437

Total current assets
 
664,979

 
1,912,058

 
194,440

 
333,486

 
(1,093,676
)
 
2,011,287

Property, plant and equipment, net
 

 
1,477,515

 
842,057

 
437,985

 

 
2,757,557

Equity investments
 
4,033,378

 
1,237,080

 

 
352,550

 
(5,561,703
)
 
61,305

Other assets, net
 
30,543

 
387,325

 
57,733

 
141,948

 
(233,708
)
 
383,841

Total assets
 
$
4,728,900

 
$
5,013,978

 
$
1,094,230

 
$
1,265,969

 
$
(6,889,087
)
 
$
5,213,990

Current liabilities
 
 
 
 
 
 
 
 
 
 
 
 
Accounts payable
 
$
1,055,527

 
$
160,834

 
$
17,680

 
$
95,856

 
$
(1,068,835
)
 
$
261,062

Accrued liabilities
 
8,754

 
203,608

 
11,225

 
77,372

 
(24,841
)
 
276,118

Total current liabilities
 
1,064,281

 
364,442

 
28,905

 
173,228

 
(1,093,676
)
 
537,180

Long-term debt
 
753,108

 
10,889

 
227,638

 

 
(227,638
)
 
763,997

Deferred income taxes
 

 
497,919

 
1,848

 
42,369

 
(6,070
)
 
536,066

Other liabilities
 

 
43,452

 

 
131,407

 

 
174,859

Total liabilities
 
1,817,389

 
916,702

 
258,391

 
347,004

 
(1,327,384
)
 
2,012,102

Total Westlake Chemical Corporation stockholders' equity
 
2,911,511

 
4,097,276

 
835,839

 
628,588

 
(5,561,703
)
 
2,911,511

Noncontrolling interests
 

 

 

 
290,377

 

 
290,377

Total equity
 
2,911,511

 
4,097,276

 
835,839

 
918,965

 
(5,561,703
)
 
3,201,888

Total liabilities and equity
 
$
4,728,900

 
$
5,013,978

 
$
1,094,230

 
$
1,265,969

 
$
(6,889,087
)
 
$
5,213,990

Schedule of Guarantor Obligations
ondensed Consolidating Financial Information as of December 31, 2015
 
 
Westlake
Chemical
Corporation
 
100% Owned
Guarantor
Subsidiaries
 
OpCo
(Less Than
100% Owned
Guarantor
Subsidiary)
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Balance Sheet
 
 
 
 
 
 
 
 
 
 
 
 
Current assets
 
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
303,131

 
$
6,828

 
$
163,430

 
$
189,136

 
$

 
$
662,525

Marketable securities
 
520,144

 

 

 

 

 
520,144

Accounts receivable, net
 
10,943

 
2,183,276

 
51,582

 
113,321

 
(1,850,590
)
 
508,532

Inventories
 

 
326,588

 
3,879

 
103,593

 

 
434,060

Prepaid expenses and other current assets
 
2,201

 
12,166

 
267

 
2,734

 
(2,879
)
 
14,489

Deferred income taxes
 
702

 
32,787

 

 
1,950

 

 
35,439

Total current assets
 
837,121

 
2,561,645

 
219,158

 
410,734

 
(1,853,469
)
 
2,175,189

Property, plant and equipment, net
 

 
1,567,897

 
1,020,469

 
415,701

 

 
3,004,067

Equity investments
 
4,991,167

 
1,207,679

 

 
469,915

 
(6,659,553
)
 
9,208

Other assets, net
 
17,896

 
450,428

 
44,157

 
129,539

 
(255,232
)
 
386,788

Total assets
 
$
5,846,184

 
$
5,787,649

 
$
1,283,784

 
$
1,425,889

 
$
(8,768,254
)
 
$
5,575,252

Current liabilities
 
 
 
 
 
 
 

 
 
 
 
Accounts and notes payable
 
$
1,817,963

 
$
121,820

 
$
33,901

 
$
87,510

 
$
(1,825,865
)
 
$
235,329

Accrued liabilities
 
9,117

 
195,785

 
21,873

 
88,142

 
(27,604
)
 
287,313

Total current liabilities
 
1,827,080

 
317,605

 
55,774

 
175,652

 
(1,853,469
)
 
522,642

Long-term debt
 
753,226

 
10,889

 
248,665

 

 
(248,665
)
 
764,115

Deferred income taxes
 

 
532,837

 
1,392

 
47,941

 
(6,567
)
 
575,603

Other liabilities
 

 
49,334

 

 
101,627

 

 
150,961

Total liabilities
 
2,580,306

 
910,665

 
305,831

 
325,220

 
(2,108,701
)
 
2,013,321

Total Westlake Chemical Corporation stockholders' equity
 
3,265,878

 
4,876,984

 
977,953

 
804,616

 
(6,659,553
)
 
3,265,878

Noncontrolling interests
 

 

 

 
296,053

 

 
296,053

Total equity
 
3,265,878

 
4,876,984

 
977,953

 
1,100,669

 
(6,659,553
)
 
3,561,931

Total liabilities and equity
 
$
5,846,184

 
$
5,787,649

 
$
1,283,784

 
$
1,425,889

 
$
(8,768,254
)
 
$
5,575,252


Condensed Consolidating Financial Information as of December 31, 2014
 
 
Westlake
Chemical
Corporation
 
100% Owned
Guarantor
Subsidiaries
 
OpCo
(Less Than
100% Owned
Guarantor
Subsidiary)
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Balance Sheet
 
 
 
 
 
 
 
 
 
 
 
 
Current assets
 
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
655,947

 
$
3,057

 
$
131,545

 
$
90,052

 
$

 
$
880,601

Accounts receivable, net
 
8,451

 
1,454,709

 
56,049

 
135,133

 
(1,093,676
)
 
560,666

Inventories
 

 
414,975

 
6,634

 
104,167

 

 
525,776

Prepaid expenses and other current assets
 
172

 
9,485

 
212

 
1,938

 

 
11,807

Deferred income taxes
 
409

 
29,832

 

 
2,196

 

 
32,437

Total current assets
 
664,979

 
1,912,058

 
194,440

 
333,486

 
(1,093,676
)
 
2,011,287

Property, plant and equipment, net
 

 
1,477,515

 
842,057

 
437,985

 

 
2,757,557

Equity investments
 
4,033,378

 
1,237,080

 

 
352,550

 
(5,561,703
)
 
61,305

Other assets, net
 
30,543

 
387,325

 
57,733

 
141,948

 
(233,708
)
 
383,841

Total assets
 
$
4,728,900

 
$
5,013,978

 
$
1,094,230

 
$
1,265,969

 
$
(6,889,087
)
 
$
5,213,990

Current liabilities
 
 
 
 
 
 
 
 
 
 
 
 
Accounts payable
 
$
1,055,527

 
$
160,834

 
$
17,680

 
$
95,856

 
$
(1,068,835
)
 
$
261,062

Accrued liabilities
 
8,754

 
203,608

 
11,225

 
77,372

 
(24,841
)
 
276,118

Total current liabilities
 
1,064,281

 
364,442

 
28,905

 
173,228

 
(1,093,676
)
 
537,180

Long-term debt
 
753,108

 
10,889

 
227,638

 

 
(227,638
)
 
763,997

Deferred income taxes
 

 
497,919

 
1,848

 
42,369

 
(6,070
)
 
536,066

Other liabilities
 

 
43,452

 

 
131,407

 

 
174,859

Total liabilities
 
1,817,389

 
916,702

 
258,391

 
347,004

 
(1,327,384
)
 
2,012,102

Total Westlake Chemical Corporation stockholders' equity
 
2,911,511

 
4,097,276

 
835,839

 
628,588

 
(5,561,703
)
 
2,911,511

Noncontrolling interests
 

 

 

 
290,377

 

 
290,377

Total equity
 
2,911,511

 
4,097,276

 
835,839

 
918,965

 
(5,561,703
)
 
3,201,888

Total liabilities and equity
 
$
4,728,900

 
$
5,013,978

 
$
1,094,230

 
$
1,265,969

 
$
(6,889,087
)
 
$
5,213,990



Condensed Consolidating Financial Information for the Year Ended December 31, 2015
 
 
Westlake
Chemical
Corporation
 
100% Owned
Guarantor
Subsidiaries
 
OpCo
(Less Than
100% Owned
Guarantor
Subsidiary)
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Statement of Operations
 
 
 
 
 
 
 
 
 
 
 
 
Net sales
 
$

 
$
3,660,393

 
$
1,007,221

 
$
1,039,165

 
$
(1,243,443
)
 
$
4,463,336

Cost of sales
 

 
2,944,420

 
624,339

 
933,007

 
(1,223,621
)
 
3,278,145

Gross profit
 

 
715,973

 
382,882

 
106,158

 
(19,822
)
 
1,185,191

Selling, general and administrative expenses
 
2,478

 
167,431

 
20,138

 
55,139

 
(19,822
)
 
225,364

(Loss) income from operations
 
(2,478
)
 
548,542

 
362,744

 
51,019

 

 
959,827

Interest expense
 
(42,197
)
 
(10
)
 
(2,691
)
 
(521
)
 
10,763

 
(34,656
)
Other income (expense), net
 
19,614

 
1,033

 
(63
)
 
28,449

 
(10,763
)
 
38,270

(Loss) income before income taxes
 
(25,061
)
 
549,565

 
359,990

 
78,947

 

 
963,441

(Benefit from) provision for income taxes
 
(7,237
)
 
288,329

 
672

 
16,632

 

 
298,396

Equity in net income of subsidiaries
 
663,834

 
314,026

 

 
45,292

 
(1,023,152
)
 

Net income
 
646,010

 
575,262

 
359,318

 
107,607

 
(1,023,152
)
 
665,045

Net income attributable to noncontrolling interests
 

 

 

 
19,035

 

 
19,035

Net income attributable to Westlake Chemical Corporation
 
$
646,010

 
$
575,262

 
$
359,318

 
$
88,572

 
$
(1,023,152
)
 
$
646,010

Comprehensive income attributable to
   Westlake Chemical Corporation
 
$
596,151

 
$
572,731

 
$
359,318

 
$
42,143

 
$
(974,192
)
 
$
596,151


Condensed Consolidating Financial Information for the Year Ended December 31, 2014
 
 
Westlake
Chemical
Corporation
 
100% Owned
Guarantor
Subsidiaries
 
OpCo
(Less Than
100% Owned
Guarantor
Subsidiary)
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Statement of Operations
 
 
 
 
 
 
 
 
 
 
 
 
Net sales
 
$

 
$
3,727,361

 
$
1,749,700

 
$
475,401

 
$
(1,537,112
)
 
$
4,415,350

Cost of sales
 

 
3,162,246

 
1,003,888

 
447,676

 
(1,515,810
)
 
3,098,000

Gross profit
 

 
565,115

 
745,812

 
27,725

 
(21,302
)
 
1,317,350

Selling, general and administrative expenses
 
2,082

 
144,987

 
26,870

 
40,722

 
(21,302
)
 
193,359

(Loss) income from operations
 
(2,082
)
 
420,128

 
718,942

 
(12,997
)
 

 
1,123,991

Interest expense
 
(39,763
)
 
(10
)
 
(10,499
)
 
(492
)
 
13,412

 
(37,352
)
Other income (expense), net
 
21,001

 
(4,921
)
 
3,151

 
(8,540
)
 
(13,412
)
 
(2,721
)
(Loss) income before income taxes
 
(20,844
)
 
415,197

 
711,594

 
(22,029
)
 

 
1,083,918

Provision for (benefit from) income taxes
 
248

 
202,501

 
199,388

 
(3,235
)
 

 
398,902

Equity in net income of subsidiaries
 
699,615

 
496,244

 

 
15,962

 
(1,211,821
)
 

Net income (loss)
 
678,523

 
708,940

 
512,206

 
(2,832
)
 
(1,211,821
)
 
685,016

Net income attributable to noncontrolling interests
 

 

 

 
6,493

 

 
6,493

Net income (loss) attributable to Westlake Chemical Corporation
 
$
678,523

 
$
708,940

 
$
512,206

 
$
(9,325
)
 
$
(1,211,821
)
 
$
678,523

Comprehensive income (loss) attributable to
   Westlake Chemical Corporation
 
$
601,706

 
$
703,148

 
$
512,206

 
$
(80,407
)
 
$
(1,134,947
)
 
$
601,706


Condensed Consolidating Financial Information for the Year Ended December 31, 2013
 
 
Westlake
Chemical
Corporation
 
100% Owned
Guarantor
Subsidiaries
 
OpCo
(Less Than
100% Owned
Guarantor
Subsidiary)
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Statement of Operations
 
 
 
 
 
 
 
 
 
 
 
 
Net sales
 
$

 
$
3,195,406

 
$
2,127,747

 
$
48,016

 
$
(1,611,685
)
 
$
3,759,484

Cost of sales
 

 
2,971,258

 
1,255,140

 
43,333

 
(1,611,685
)
 
2,658,046

Gross profit
 

 
224,148

 
872,607

 
4,683

 

 
1,101,438

Selling, general and administrative expenses
 
2,128

 
114,211

 
25,451

 
6,184

 

 
147,974

(Loss) income from operations
 
(2,128
)
 
109,937

 
847,156

 
(1,501
)
 

 
953,464

Interest expense
 
(18,030
)
 
(52
)
 
(8,032
)
 

 
8,032

 
(18,082
)
Other income (expense), net
 
11,798

 
(2,438
)
 
7,701

 
(2,239
)
 
(8,032
)
 
6,790

(Loss) income before income taxes
 
(8,360
)
 
107,447

 
846,825

 
(3,740
)
 

 
942,172

(Benefit from) provision for income taxes
 
(2,031
)
 
34,340

 
300,279

 
(841
)
 

 
331,747

Equity in net income of subsidiaries
 
616,754

 
546,546

 

 

 
(1,163,300
)
 

Net income (loss) attributable to Westlake Chemical Corporation
 
$
610,425

 
$
619,653

 
$
546,546

 
$
(2,899
)
 
$
(1,163,300
)
 
$
610,425

Comprehensive income (loss) attributable to
   Westlake Chemical Corporation
 
$
618,649

 
$
629,308

 
$
546,546

 
$
(4,506
)
 
$
(1,171,348
)
 
$
618,649



Condensed Consolidating Financial Information for the Year Ended December 31, 2015
 
 
Westlake
Chemical
Corporation
 
100% Owned
Guarantor
Subsidiaries
 
OpCo
(Less Than
100% Owned
Guarantor
Subsidiary)
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Statement of Cash Flows
 
 
 
 
 
 
 
 
 
 
 
 
Cash flows from operating activities
 
 
 
 
 
 
 
 
 
 
 
 
Net income
 
$
646,010

 
$
575,262

 
$
359,318

 
$
107,607

 
$
(1,023,152
)
 
$
665,045

Adjustments to reconcile net income to net cash
   (used for) provided by operating activities
 
 
 
 
 
 
 
 
 
 
 
 
Depreciation and amortization
 
2,004

 
124,897

 
81,210

 
39,650

 

 
247,761

Deferred income taxes
 
(285
)
 
33,369

 
(456
)
 
7,156

 

 
39,784

Net changes in working capital and other
 
(660,777
)
 
(368,494
)
 
19,175

 
113,190

 
1,023,152

 
126,246

Net cash (used for) provided by operating activities
 
(13,048
)
 
365,034

 
459,247

 
267,603

 

 
1,078,836

Cash flows from investing activities
 
 
 
 
 
 
 
 
 
 
 
 
Acquisition of business, net of cash acquired
 

 

 

 
15,782

 

 
15,782

Additions to property, plant and equipment
 

 
(215,405
)
 
(231,185
)
 
(44,836
)
 

 
(491,426
)
Proceeds from disposition of assets
 

 
18

 

 
31

 

 
49

Proceeds from disposition of equity method investment
 

 
27,865

 

 

 

 
27,865

Proceeds from sales and maturities of securities
 
48,900

 

 

 

 

 
48,900

Purchase of securities
 
(556,211
)
 
(48,887
)
 

 

 

 
(605,098
)
Settlements of derivative instruments
 

 
(2,248
)
 

 

 

 
(2,248
)
Net cash used for investing activities
 
(507,311
)
 
(238,657
)
 
(231,185
)
 
(29,023
)
 

 
(1,006,176
)
Cash flows from financing activities
 
 
 
 
 
 
 
 
 
 
 
 
Intercompany financing
 
418,844

 
(585,007
)
 
156,368

 
9,795

 

 

Intercompany financing—OpCo
 

 
135,341

 
(135,341
)
 

 

 

Dividends paid
 
(91,551
)
 

 

 

 

 
(91,551
)
Distributions paid
 

 
327,060

 
(352,545
)
 
10,629

 

 
(14,856
)
Purchase of limited partner interests
 

 

 
135,341

 
(135,341
)
 

 

Proceeds from exercise of stock options
 
1,063

 

 

 

 

 
1,063

Proceeds from issuance of notes payable
 

 

 

 
52,960

 

 
52,960

Repayment of notes payable
 

 

 

 
(73,615
)
 

 
(73,615
)
Repurchase of common stock for treasury
 
(162,459
)
 

 

 

 

 
(162,459
)
Windfall tax benefits from share-based payment arrangements
 
1,646

 

 

 

 

 
1,646

Net cash provided by (used for) financing activities
 
$
167,543

 
$
(122,606
)
 
$
(196,177
)
 
$
(135,572
)
 
$

 
$
(286,812
)
 
 
Westlake
Chemical
Corporation
 
100% Owned
Guarantor
Subsidiaries
 
OpCo
(Less Than
100% Owned
Guarantor
Subsidiary)
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Effect of exchange rate changes on cash and cash equivalents
 
$

 
$

 
$

 
$
(3,924
)
 
$

 
$
(3,924
)
Net (decrease) increase in cash and cash equivalents
 
(352,816
)
 
3,771

 
31,885

 
99,084

 

 
(218,076
)
Cash and cash equivalents at beginning of the year
 
655,947

 
3,057

 
131,545

 
90,052

 

 
880,601

Cash and cash equivalents at end of the year
 
$
303,131

 
$
6,828

 
$
163,430

 
$
189,136

 
$

 
$
662,525


Condensed Consolidating Financial Information for the Year Ended December 31, 2014
 
 
Westlake
Chemical
Corporation
 
100% Owned
Guarantor
Subsidiaries
 
OpCo
(Less Than
100% Owned
Guarantor
Subsidiary)
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Statement of Cash Flows
 
 
 
 
 
 
 
 
 
 
 
 
Cash flows from operating activities
 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss)
 
$
678,523

 
$
708,940

 
$
512,206

 
$
(2,832
)
 
$
(1,211,821
)
 
$
685,016

Adjustments to reconcile net income (loss) to net cash (used for)
   provided by operating activities
 
 
 
 
 
 
 
 
 
 
 
 
Depreciation and amortization
 
1,673

 
111,389

 
77,611

 
19,486

 

 
210,159

Deferred income taxes
 
(288
)
 
55,344

 
8,608

 
(4,697
)
 

 
58,967

Net changes in working capital and other
 
(706,043
)
 
(1,077,982
)
 
4,879

 
645,559

 
1,211,821

 
78,234

Net cash (used for) provided by operating activities
 
(26,135
)
 
(202,309
)
 
603,304

 
657,516

 

 
1,032,376

Cash flows from investing activities
 
 
 
 
 
 
 
 
 
 
 
 
Acquisition of business, net of cash acquired
 

 

 

 
(611,087
)
 

 
(611,087
)
Additions to property, plant and equipment
 

 
(209,111
)
 
(202,823
)
 
(19,170
)
 

 
(431,104
)
Proceeds from disposition of assets
 

 
180

 

 
1

 

 
181

Proceeds from repayment of loan acquired
 

 

 

 
45,923

 

 
45,923

Proceeds from sales and maturities of securities
 
342,045

 

 

 

 

 
342,045

Purchase of securities
 
(117,332
)
 

 

 

 

 
(117,332
)
Settlements of derivative instruments
 

 
(1,698
)
 
(133
)
 

 

 
(1,831
)
Net cash provided by (used for) investing activities
 
224,713

 
(210,629
)
 
(202,956
)
 
(584,333
)
 

 
(773,205
)
Cash flows from financing activities
 
 
 
 
 
 
 
 
 
 
 
 
Intercompany financing
 
155,665

 
(244,122
)
 
102,702

 
(14,245
)
 

 

Net distributions prior to Westlake Partners initial public offering
 

 
448,101

 
(448,101
)
 

 

 

Capitalized debt issuance costs
 
(1,186
)
 

 

 

 

 
(1,186
)
Dividends paid
 
(77,656
)
 
151,729

 
(151,729
)
 

 

 
(77,656
)
Distributions paid
 

 
54,060

 
(57,763
)
 
1,499

 

 
(2,204
)
Net proceeds from issuance of Westlake Partners common units
 

 

 

 
286,088

 

 
286,088

Purchase of limited partner interests
 

 

 
286,088

 
(286,088
)
 

 

Proceeds from exercise of stock options
 
5,524

 

 

 

 

 
5,524

Repurchase of common stock for treasury
 
(52,630
)
 

 

 

 

 
(52,630
)
Windfall tax benefits from share-based payment arrangements
 
6,704

 

 

 

 

 
6,704

Net cash provided by (used for) financing activities
 
$
36,421

 
$
409,768

 
$
(268,803
)
 
$
(12,746
)
 
$

 
$
164,640

 
 
Westlake
Chemical
Corporation
 
100% Owned
Guarantor
Subsidiaries
 
OpCo
(Less Than
100% Owned
Guarantor
Subsidiary)
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Effect of exchange rate changes on cash and cash equivalents
 
$

 
$

 
$

 
$
(4,511
)
 
$

 
$
(4,511
)
Net increase (decrease) in cash and cash equivalents
 
234,999

 
(3,170
)
 
131,545

 
55,926

 

 
419,300

Cash and cash equivalents at beginning of the year
 
420,948

 
6,227

 

 
34,126

 

 
461,301

Cash and cash equivalents at end of the year
 
$
655,947

 
$
3,057

 
$
131,545

 
$
90,052

 
$

 
$
880,601


Condensed Consolidating Financial Information for the Year Ended December 31, 2013
 
 
Westlake
Chemical
Corporation
 
100% Owned
Guarantor
Subsidiaries
 
OpCo
(Less Than
100% Owned
Guarantor
Subsidiary)
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Statement of Cash Flows
 
 
 
 
 
 
 
 
 
 
 
 
Cash flows from operating activities
 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss)
 
$
610,425

 
$
619,653

 
$
546,546

 
$
(2,899
)
 
$
(1,163,300
)
 
$
610,425

Adjustments to reconcile net income (loss) to net cash (used for)
   provided by operating activities
 
 
 
 
 
 
 
 
 
 
 
 
Depreciation and amortization
 
1,459

 
81,897

 
73,463

 
2,448

 

 
159,267

Deferred income taxes
 
74

 
56,787

 
37,054

 
(183
)
 

 
93,732

Net changes in working capital and other
 
(622,194
)
 
(607,033
)
 
(54,554
)
 
9,786

 
1,163,300

 
(110,695
)
Net cash (used for) provided by operating activities
 
(10,236
)
 
151,304

 
602,509

 
9,152

 

 
752,729

Cash flows from investing activities
 
 
 
 
 
 
 
 
 
 
 
 
Acquisition of business
 

 
(178,309
)
 

 

 

 
(178,309
)
Additions to equity investments
 

 
(23,338
)
 

 

 

 
(23,338
)
Additions to property, plant and equipment
 

 
(453,538
)
 
(223,130
)
 
(2,554
)
 

 
(679,222
)
Construction of assets pending sale-leaseback
 

 
(136
)
 

 

 

 
(136
)
Proceeds from disposition of assets
 

 
75

 

 
76

 

 
151

Proceeds from repayment of loan to affiliate
 

 

 

 
167

 

 
167

Proceeds from sales and maturities of securities
 
252,519

 

 

 

 

 
252,519

Purchase of securities
 
(367,150
)
 

 

 

 

 
(367,150
)
Settlements of derivative instruments
 

 

 
(6,920
)
 

 

 
(6,920
)
Net cash used for investing activities
 
(114,631
)
 
(655,246
)
 
(230,050
)
 
(2,311
)
 

 
(1,002,238
)
Cash flows from financing activities
 
 
 
 
 
 
 
 
 
 
 
 
Intercompany financing
 
(128,798
)
 
(100,330
)
 
231,067

 
(1,939
)
 

 

Net distributions prior to Westlake Partners initial public offering
 

 
603,526

 
(603,526
)
 

 

 

Dividends paid
 
(55,236
)
 

 

 

 

 
(55,236
)
Proceeds from exercise of stock options
 
3,437

 

 

 

 

 
3,437

Repurchase of common stock for treasury
 
(32,918
)
 

 

 

 

 
(32,918
)
Windfall tax benefits from share-based payment arrangements
 
5,449

 

 

 

 

 
5,449

Net cash (used for) provided by financing activities
 
$
(208,066
)
 
$
503,196

 
$
(372,459
)
 
$
(1,939
)
 
$

 
$
(79,268
)
 
 
Westlake
Chemical
Corporation
 
100% Owned
Guarantor
Subsidiaries
 
OpCo
(Less Than
100% Owned
Guarantor
Subsidiary)
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Net (decrease) increase in cash and cash equivalents
 
$
(332,933
)
 
$
(746
)
 
$

 
$
4,902

 
$

 
$
(328,777
)
Cash and cash equivalents at beginning of the year
 
753,881

 
6,973

 

 
29,224

 

 
790,078

Cash and cash equivalents at end of the year
 
$
420,948

 
$
6,227

 
$

 
$
34,126

 
$

 
$
461,301

Condensed Consolidating Financial Information Statement Of Operations
Condensed Consolidating Financial Information for the Year Ended December 31, 2015
 
 
Westlake
Chemical
Corporation
 
100% Owned
Guarantor
Subsidiaries
 
OpCo
(Less Than
100% Owned
Guarantor
Subsidiary)
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Statement of Operations
 
 
 
 
 
 
 
 
 
 
 
 
Net sales
 
$

 
$
3,660,393

 
$
1,007,221

 
$
1,039,165

 
$
(1,243,443
)
 
$
4,463,336

Cost of sales
 

 
2,944,420

 
624,339

 
933,007

 
(1,223,621
)
 
3,278,145

Gross profit
 

 
715,973

 
382,882

 
106,158

 
(19,822
)
 
1,185,191

Selling, general and administrative expenses
 
2,478

 
167,431

 
20,138

 
55,139

 
(19,822
)
 
225,364

(Loss) income from operations
 
(2,478
)
 
548,542

 
362,744

 
51,019

 

 
959,827

Interest expense
 
(42,197
)
 
(10
)
 
(2,691
)
 
(521
)
 
10,763

 
(34,656
)
Other income (expense), net
 
19,614

 
1,033

 
(63
)
 
28,449

 
(10,763
)
 
38,270

(Loss) income before income taxes
 
(25,061
)
 
549,565

 
359,990

 
78,947

 

 
963,441

(Benefit from) provision for income taxes
 
(7,237
)
 
288,329

 
672

 
16,632

 

 
298,396

Equity in net income of subsidiaries
 
663,834

 
314,026

 

 
45,292

 
(1,023,152
)
 

Net income
 
646,010

 
575,262

 
359,318

 
107,607

 
(1,023,152
)
 
665,045

Net income attributable to noncontrolling interests
 

 

 

 
19,035

 

 
19,035

Net income attributable to Westlake Chemical Corporation
 
$
646,010

 
$
575,262

 
$
359,318

 
$
88,572

 
$
(1,023,152
)
 
$
646,010

Comprehensive income attributable to
   Westlake Chemical Corporation
 
$
596,151

 
$
572,731

 
$
359,318

 
$
42,143

 
$
(974,192
)
 
$
596,151


Condensed Consolidating Financial Information for the Year Ended December 31, 2014
 
 
Westlake
Chemical
Corporation
 
100% Owned
Guarantor
Subsidiaries
 
OpCo
(Less Than
100% Owned
Guarantor
Subsidiary)
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Statement of Operations
 
 
 
 
 
 
 
 
 
 
 
 
Net sales
 
$

 
$
3,727,361

 
$
1,749,700

 
$
475,401

 
$
(1,537,112
)
 
$
4,415,350

Cost of sales
 

 
3,162,246

 
1,003,888

 
447,676

 
(1,515,810
)
 
3,098,000

Gross profit
 

 
565,115

 
745,812

 
27,725

 
(21,302
)
 
1,317,350

Selling, general and administrative expenses
 
2,082

 
144,987

 
26,870

 
40,722

 
(21,302
)
 
193,359

(Loss) income from operations
 
(2,082
)
 
420,128

 
718,942

 
(12,997
)
 

 
1,123,991

Interest expense
 
(39,763
)
 
(10
)
 
(10,499
)
 
(492
)
 
13,412

 
(37,352
)
Other income (expense), net
 
21,001

 
(4,921
)
 
3,151

 
(8,540
)
 
(13,412
)
 
(2,721
)
(Loss) income before income taxes
 
(20,844
)
 
415,197

 
711,594

 
(22,029
)
 

 
1,083,918

Provision for (benefit from) income taxes
 
248

 
202,501

 
199,388

 
(3,235
)
 

 
398,902

Equity in net income of subsidiaries
 
699,615

 
496,244

 

 
15,962

 
(1,211,821
)
 

Net income (loss)
 
678,523

 
708,940

 
512,206

 
(2,832
)
 
(1,211,821
)
 
685,016

Net income attributable to noncontrolling interests
 

 

 

 
6,493

 

 
6,493

Net income (loss) attributable to Westlake Chemical Corporation
 
$
678,523

 
$
708,940

 
$
512,206

 
$
(9,325
)
 
$
(1,211,821
)
 
$
678,523

Comprehensive income (loss) attributable to
   Westlake Chemical Corporation
 
$
601,706

 
$
703,148

 
$
512,206

 
$
(80,407
)
 
$
(1,134,947
)
 
$
601,706


Condensed Consolidating Financial Information for the Year Ended December 31, 2013
 
 
Westlake
Chemical
Corporation
 
100% Owned
Guarantor
Subsidiaries
 
OpCo
(Less Than
100% Owned
Guarantor
Subsidiary)
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Statement of Operations
 
 
 
 
 
 
 
 
 
 
 
 
Net sales
 
$

 
$
3,195,406

 
$
2,127,747

 
$
48,016

 
$
(1,611,685
)
 
$
3,759,484

Cost of sales
 

 
2,971,258

 
1,255,140

 
43,333

 
(1,611,685
)
 
2,658,046

Gross profit
 

 
224,148

 
872,607

 
4,683

 

 
1,101,438

Selling, general and administrative expenses
 
2,128

 
114,211

 
25,451

 
6,184

 

 
147,974

(Loss) income from operations
 
(2,128
)
 
109,937

 
847,156

 
(1,501
)
 

 
953,464

Interest expense
 
(18,030
)
 
(52
)
 
(8,032
)
 

 
8,032

 
(18,082
)
Other income (expense), net
 
11,798

 
(2,438
)
 
7,701

 
(2,239
)
 
(8,032
)
 
6,790

(Loss) income before income taxes
 
(8,360
)
 
107,447

 
846,825

 
(3,740
)
 

 
942,172

(Benefit from) provision for income taxes
 
(2,031
)
 
34,340

 
300,279

 
(841
)
 

 
331,747

Equity in net income of subsidiaries
 
616,754

 
546,546

 

 

 
(1,163,300
)
 

Net income (loss) attributable to Westlake Chemical Corporation
 
$
610,425

 
$
619,653

 
$
546,546

 
$
(2,899
)
 
$
(1,163,300
)
 
$
610,425

Comprehensive income (loss) attributable to
   Westlake Chemical Corporation
 
$
618,649

 
$
629,308

 
$
546,546

 
$
(4,506
)
 
$
(1,171,348
)
 
$
618,649

Condensed Consolidating Financial Information Statement Of Cash Flows
Condensed Consolidating Financial Information for the Year Ended December 31, 2015
 
 
Westlake
Chemical
Corporation
 
100% Owned
Guarantor
Subsidiaries
 
OpCo
(Less Than
100% Owned
Guarantor
Subsidiary)
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Statement of Cash Flows
 
 
 
 
 
 
 
 
 
 
 
 
Cash flows from operating activities
 
 
 
 
 
 
 
 
 
 
 
 
Net income
 
$
646,010

 
$
575,262

 
$
359,318

 
$
107,607

 
$
(1,023,152
)
 
$
665,045

Adjustments to reconcile net income to net cash
   (used for) provided by operating activities
 
 
 
 
 
 
 
 
 
 
 
 
Depreciation and amortization
 
2,004

 
124,897

 
81,210

 
39,650

 

 
247,761

Deferred income taxes
 
(285
)
 
33,369

 
(456
)
 
7,156

 

 
39,784

Net changes in working capital and other
 
(660,777
)
 
(368,494
)
 
19,175

 
113,190

 
1,023,152

 
126,246

Net cash (used for) provided by operating activities
 
(13,048
)
 
365,034

 
459,247

 
267,603

 

 
1,078,836

Cash flows from investing activities
 
 
 
 
 
 
 
 
 
 
 
 
Acquisition of business, net of cash acquired
 

 

 

 
15,782

 

 
15,782

Additions to property, plant and equipment
 

 
(215,405
)
 
(231,185
)
 
(44,836
)
 

 
(491,426
)
Proceeds from disposition of assets
 

 
18

 

 
31

 

 
49

Proceeds from disposition of equity method investment
 

 
27,865

 

 

 

 
27,865

Proceeds from sales and maturities of securities
 
48,900

 

 

 

 

 
48,900

Purchase of securities
 
(556,211
)
 
(48,887
)
 

 

 

 
(605,098
)
Settlements of derivative instruments
 

 
(2,248
)
 

 

 

 
(2,248
)
Net cash used for investing activities
 
(507,311
)
 
(238,657
)
 
(231,185
)
 
(29,023
)
 

 
(1,006,176
)
Cash flows from financing activities
 
 
 
 
 
 
 
 
 
 
 
 
Intercompany financing
 
418,844

 
(585,007
)
 
156,368

 
9,795

 

 

Intercompany financing—OpCo
 

 
135,341

 
(135,341
)
 

 

 

Dividends paid
 
(91,551
)
 

 

 

 

 
(91,551
)
Distributions paid
 

 
327,060

 
(352,545
)
 
10,629

 

 
(14,856
)
Purchase of limited partner interests
 

 

 
135,341

 
(135,341
)
 

 

Proceeds from exercise of stock options
 
1,063

 

 

 

 

 
1,063

Proceeds from issuance of notes payable
 

 

 

 
52,960

 

 
52,960

Repayment of notes payable
 

 

 

 
(73,615
)
 

 
(73,615
)
Repurchase of common stock for treasury
 
(162,459
)
 

 

 

 

 
(162,459
)
Windfall tax benefits from share-based payment arrangements
 
1,646

 

 

 

 

 
1,646

Net cash provided by (used for) financing activities
 
$
167,543

 
$
(122,606
)
 
$
(196,177
)
 
$
(135,572
)
 
$

 
$
(286,812
)
 
 
Westlake
Chemical
Corporation
 
100% Owned
Guarantor
Subsidiaries
 
OpCo
(Less Than
100% Owned
Guarantor
Subsidiary)
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Effect of exchange rate changes on cash and cash equivalents
 
$

 
$

 
$

 
$
(3,924
)
 
$

 
$
(3,924
)
Net (decrease) increase in cash and cash equivalents
 
(352,816
)
 
3,771

 
31,885

 
99,084

 

 
(218,076
)
Cash and cash equivalents at beginning of the year
 
655,947

 
3,057

 
131,545

 
90,052

 

 
880,601

Cash and cash equivalents at end of the year
 
$
303,131

 
$
6,828

 
$
163,430

 
$
189,136

 
$

 
$
662,525


Condensed Consolidating Financial Information for the Year Ended December 31, 2014
 
 
Westlake
Chemical
Corporation
 
100% Owned
Guarantor
Subsidiaries
 
OpCo
(Less Than
100% Owned
Guarantor
Subsidiary)
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Statement of Cash Flows
 
 
 
 
 
 
 
 
 
 
 
 
Cash flows from operating activities
 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss)
 
$
678,523

 
$
708,940

 
$
512,206

 
$
(2,832
)
 
$
(1,211,821
)
 
$
685,016

Adjustments to reconcile net income (loss) to net cash (used for)
   provided by operating activities
 
 
 
 
 
 
 
 
 
 
 
 
Depreciation and amortization
 
1,673

 
111,389

 
77,611

 
19,486

 

 
210,159

Deferred income taxes
 
(288
)
 
55,344

 
8,608

 
(4,697
)
 

 
58,967

Net changes in working capital and other
 
(706,043
)
 
(1,077,982
)
 
4,879

 
645,559

 
1,211,821

 
78,234

Net cash (used for) provided by operating activities
 
(26,135
)
 
(202,309
)
 
603,304

 
657,516

 

 
1,032,376

Cash flows from investing activities
 
 
 
 
 
 
 
 
 
 
 
 
Acquisition of business, net of cash acquired
 

 

 

 
(611,087
)
 

 
(611,087
)
Additions to property, plant and equipment
 

 
(209,111
)
 
(202,823
)
 
(19,170
)
 

 
(431,104
)
Proceeds from disposition of assets
 

 
180

 

 
1

 

 
181

Proceeds from repayment of loan acquired
 

 

 

 
45,923

 

 
45,923

Proceeds from sales and maturities of securities
 
342,045

 

 

 

 

 
342,045

Purchase of securities
 
(117,332
)
 

 

 

 

 
(117,332
)
Settlements of derivative instruments
 

 
(1,698
)
 
(133
)
 

 

 
(1,831
)
Net cash provided by (used for) investing activities
 
224,713

 
(210,629
)
 
(202,956
)
 
(584,333
)
 

 
(773,205
)
Cash flows from financing activities
 
 
 
 
 
 
 
 
 
 
 
 
Intercompany financing
 
155,665

 
(244,122
)
 
102,702

 
(14,245
)
 

 

Net distributions prior to Westlake Partners initial public offering
 

 
448,101

 
(448,101
)
 

 

 

Capitalized debt issuance costs
 
(1,186
)
 

 

 

 

 
(1,186
)
Dividends paid
 
(77,656
)
 
151,729

 
(151,729
)
 

 

 
(77,656
)
Distributions paid
 

 
54,060

 
(57,763
)
 
1,499

 

 
(2,204
)
Net proceeds from issuance of Westlake Partners common units
 

 

 

 
286,088

 

 
286,088

Purchase of limited partner interests
 

 

 
286,088

 
(286,088
)
 

 

Proceeds from exercise of stock options
 
5,524

 

 

 

 

 
5,524

Repurchase of common stock for treasury
 
(52,630
)
 

 

 

 

 
(52,630
)
Windfall tax benefits from share-based payment arrangements
 
6,704

 

 

 

 

 
6,704

Net cash provided by (used for) financing activities
 
$
36,421

 
$
409,768

 
$
(268,803
)
 
$
(12,746
)
 
$

 
$
164,640

 
 
Westlake
Chemical
Corporation
 
100% Owned
Guarantor
Subsidiaries
 
OpCo
(Less Than
100% Owned
Guarantor
Subsidiary)
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Effect of exchange rate changes on cash and cash equivalents
 
$

 
$

 
$

 
$
(4,511
)
 
$

 
$
(4,511
)
Net increase (decrease) in cash and cash equivalents
 
234,999

 
(3,170
)
 
131,545

 
55,926

 

 
419,300

Cash and cash equivalents at beginning of the year
 
420,948

 
6,227

 

 
34,126

 

 
461,301

Cash and cash equivalents at end of the year
 
$
655,947

 
$
3,057

 
$
131,545

 
$
90,052

 
$

 
$
880,601


Condensed Consolidating Financial Information for the Year Ended December 31, 2013
 
 
Westlake
Chemical
Corporation
 
100% Owned
Guarantor
Subsidiaries
 
OpCo
(Less Than
100% Owned
Guarantor
Subsidiary)
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Statement of Cash Flows
 
 
 
 
 
 
 
 
 
 
 
 
Cash flows from operating activities
 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss)
 
$
610,425

 
$
619,653

 
$
546,546

 
$
(2,899
)
 
$
(1,163,300
)
 
$
610,425

Adjustments to reconcile net income (loss) to net cash (used for)
   provided by operating activities
 
 
 
 
 
 
 
 
 
 
 
 
Depreciation and amortization
 
1,459

 
81,897

 
73,463

 
2,448

 

 
159,267

Deferred income taxes
 
74

 
56,787

 
37,054

 
(183
)
 

 
93,732

Net changes in working capital and other
 
(622,194
)
 
(607,033
)
 
(54,554
)
 
9,786

 
1,163,300

 
(110,695
)
Net cash (used for) provided by operating activities
 
(10,236
)
 
151,304

 
602,509

 
9,152

 

 
752,729

Cash flows from investing activities
 
 
 
 
 
 
 
 
 
 
 
 
Acquisition of business
 

 
(178,309
)
 

 

 

 
(178,309
)
Additions to equity investments
 

 
(23,338
)
 

 

 

 
(23,338
)
Additions to property, plant and equipment
 

 
(453,538
)
 
(223,130
)
 
(2,554
)
 

 
(679,222
)
Construction of assets pending sale-leaseback
 

 
(136
)
 

 

 

 
(136
)
Proceeds from disposition of assets
 

 
75

 

 
76

 

 
151

Proceeds from repayment of loan to affiliate
 

 

 

 
167

 

 
167

Proceeds from sales and maturities of securities
 
252,519

 

 

 

 

 
252,519

Purchase of securities
 
(367,150
)
 

 

 

 

 
(367,150
)
Settlements of derivative instruments
 

 

 
(6,920
)
 

 

 
(6,920
)
Net cash used for investing activities
 
(114,631
)
 
(655,246
)
 
(230,050
)
 
(2,311
)
 

 
(1,002,238
)
Cash flows from financing activities
 
 
 
 
 
 
 
 
 
 
 
 
Intercompany financing
 
(128,798
)
 
(100,330
)
 
231,067

 
(1,939
)
 

 

Net distributions prior to Westlake Partners initial public offering
 

 
603,526

 
(603,526
)
 

 

 

Dividends paid
 
(55,236
)
 

 

 

 

 
(55,236
)
Proceeds from exercise of stock options
 
3,437

 

 

 

 

 
3,437

Repurchase of common stock for treasury
 
(32,918
)
 

 

 

 

 
(32,918
)
Windfall tax benefits from share-based payment arrangements
 
5,449

 

 

 

 

 
5,449

Net cash (used for) provided by financing activities
 
$
(208,066
)
 
$
503,196

 
$
(372,459
)
 
$
(1,939
)
 
$

 
$
(79,268
)
 
 
Westlake
Chemical
Corporation
 
100% Owned
Guarantor
Subsidiaries
 
OpCo
(Less Than
100% Owned
Guarantor
Subsidiary)
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Net (decrease) increase in cash and cash equivalents
 
$
(332,933
)
 
$
(746
)
 
$

 
$
4,902

 
$

 
$
(328,777
)
Cash and cash equivalents at beginning of the year
 
753,881

 
6,973

 

 
29,224

 

 
790,078

Cash and cash equivalents at end of the year
 
$
420,948

 
$
6,227

 
$

 
$
34,126

 
$

 
$
461,301