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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities    
Net income $ 265,995 $ 240,985
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 77,767 80,382
Loss from disposition of property, plant and equipment 1,000 458
Other gains, net (522) (819)
Changes in operating assets and liabilities    
Accounts receivable—third parties 5,170 2,647
Net accounts receivable—Westlake (10,136) 8,217
Inventories 832 (88)
Prepaid expenses and other current assets (87) (189)
Accounts payable 711 (662)
Accrued and other liabilities 1,398 4,869
Other, net (1,252) (646)
Cash flows from investing activities 340,876 335,154
Cash flows from investing activities    
Additions to property, plant and equipment (29,170) (30,028)
Maturities of investments with Westlake under the Investment Management Agreement 276,000 405,445
Investments with Westlake under the Investment Management Agreement (305,000) (421,445)
Other 0 46
Net cash used for investing activities (58,170) (45,982)
Cash flows from financing activities    
Net proceeds from private placement of common units 0 62,661
Proceeds from debt payable to Westlake 0 123,511
Repayment of debt payable to Westlake 0 (201,445)
Quarterly distributions to noncontrolling interest retained in OpCo by Westlake (229,526) (229,260)
Quarterly distributions to unitholders (49,772) (45,736)
Net cash used for financing activities (279,298) (290,269)
Net increase (decrease) in cash and cash equivalents 3,408 (1,097)
Cash and cash equivalents at beginning of period 19,923 19,744
Cash and cash equivalents at end of period $ 23,331 $ 18,647