Segment Information

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Segment Information

Segment Information

The Partnership has one operating segment, which is the Partnership's reportable segment, OpCo. The operating results of the segment are reviewed by the Partnership's Chief Executive Officer, the chief operating decision maker ("CODM"). The CODM evaluates segment performance based on net income. The CODM reviews the OpCo segment's actual net income trends to allocate resources and assess performance.

The OpCo segment's operations consist of two ethylene production facilities in Lake Charles, Louisiana, one ethylene production facility in Calvert City, Kentucky and a 200-mile common carrier ethylene pipeline that runs from Mont Belvieu, Texas to Longview, Texas. OpCo derives substantially all of its revenue from these production facilities primarily by selling ethylene to Westlake and others, as well as through the sale of co-products of ethylene production, including propylene, crude butadiene, pyrolysis gasoline and hydrogen. All of the OpCo segment's operations are located and conducted in the United States. All of the OpCo segment's sales are attributed to the United States.

Sales to Westlake accounted for more than 10% of sales in the OpCo segment, totaling $950,801, $1,026,655 and $1,342,910 for the years ended December 31, 2024, 2023 and 2022, respectively. Consolidated net sales and provision for income taxes as disclosed in the consolidated statements of operations and depreciation and amortization and additions to property, plant and equipment as disclosed in the consolidated statements of cash flows are fully attributed to the OpCo segment, and as such, separate OpCo segment amounts are not repeated in the tables below.

The accounting policies of the OpCo segment are the same as those described in Note 1.

	Year Ended December 31,
	2024		2023		2022
Significant segment expenses and other segment items
OpCo
Raw material, energy, manufacturing and logistics costs	$	605,058	$	693,129	$	1,094,708
Depreciation and amortization	111,899		110,203		121,074
Total cost of sales	716,957		803,332		1,215,782
Selling, general and administrative expenses	24,699		26,217		26,387
Other segment items (1)	(3,005)		(1,786)		494
Interest expense—Westlake
OpCo	$	1,410	$	1,496	$	693
Corporate	24,291		25,005		12,714
	$	25,701	$	26,501	$	13,407
Net income
OpCo	$	397,245	$	363,028	$	350,484

A reconciliation of total segment net income to consolidated net income is as follows:

	Year Ended December 31,
	2024		2023		2022
Net income from OpCo	$	397,245	$	363,028	$	350,484
Corporate net loss	(28,086)		(28,402)		(15,655)
Net income	$	369,159	$	334,626	$	334,829

	December 31,
	2024		2023
Total assets
OpCo	$	1,238,420	$	1,269,355
Corporate	49,536		47,487
	$	1,287,956	$	1,316,842

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(1)Other segment items includes interest expense—Westlake, other income, net and provision for income taxes.