EX-12.1 9 exhibit12112311710-k.htm EXHIBIT 12.1 Exhibit
EXHIBIT 12.1


WESTLAKE CHEMICAL CORPORATION
RATIO OF EARNINGS TO FIXED CHARGES
(millions of dollars)
 
 
Year Ended December 31,
 
 
2017
 
2016
 
2015
 
2014
 
2013
Earnings
 
 
 
 
 
 
 
 
 
 
Income before Income Taxes
 
$
1,081

 
$
558

 
$
963

 
$
1,084

 
$
942

Fixed Charges
 
207

 
119

 
68

 
63

 
59

Equity Investee Distributions
 
6

 
5

 
6

 
5

 
5

Capitalized Interest
 
(4
)
 
(10
)
 
(10
)
 
(7
)
 
(26
)
Noncontrolling interest
 
(10
)
 
(1
)
 
—

 
—

 
—

Equity Investment (Income) Loss
 
(6
)
 
(4
)
 
(22
)
 
1

 
(5
)
Total Earnings Available for Fixed Charges
 
$
1,274

 
$
667

 
$
1,005

 
$
1,146

 
$
975

 
 
 
 
 
 
 
 
 
 
 
Fixed Charges
 
 
 
 
 
 
 
 
 
 
Interest Expense
 
$
159

 
$
79

 
$
35

 
$
37

 
$
18

Capitalized Interest
 
4

 
10

 
10

 
7

 
26

Portion of Rentals
 
44

 
30

 
23

 
19

 
15

Total Fixed Charges
 
$
207

 
$
119

 
$
68

 
$
63

 
$
59

 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
 
6.2

 
5.6

 
14.8

 
18.2

 
16.5