2013 Q2 Form 10-Q Financial Statement

#000126282313000026 Filed on July 31, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q2
Revenue $939.0M $914.0M
YoY Change 2.75% -1.2%
Cost Of Revenue $665.6M $712.1M
YoY Change -6.53% -6.05%
Gross Profit $273.5M $201.9M
YoY Change 35.46% 20.83%
Gross Profit Margin 29.12% 22.09%
Selling, General & Admin $38.26M $30.92M
YoY Change 23.75% 7.63%
% of Gross Profit 13.99% 15.31%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $40.21M $35.78M
YoY Change 12.37% 9.08%
% of Gross Profit 14.7% 17.72%
Operating Expenses $38.26M $30.92M
YoY Change 23.75% 7.63%
Operating Profit $235.2M $171.0M
YoY Change 37.58% 23.57%
Interest Expense $5.343M $11.57M
YoY Change -53.82% -9.62%
% of Operating Profit 2.27% 6.77%
Other Income/Expense, Net -$95.00K $1.107M
YoY Change -108.58% -32.17%
Pretax Income $229.8M $176.5M
YoY Change 30.2% 38.76%
Income Tax $83.97M $60.97M
% Of Pretax Income 36.54% 34.54%
Net Earnings $145.8M $115.5M
YoY Change 26.25% 42.51%
Net Earnings / Revenue 15.53% 12.64%
Basic Earnings Per Share $1.09 $1.73
Diluted Earnings Per Share $1.09 $1.72
COMMON SHARES
Basic Shares Outstanding 133.3M shares 66.30M shares
Diluted Shares Outstanding 133.8M shares 66.65M shares

Balance Sheet

Concept 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $655.0M $1.111B
YoY Change -41.04% 56.04%
Cash & Equivalents $625.5M $1.111B
Short-Term Investments $30.00M
Other Short-Term Assets $52.00M $35.00M
YoY Change 48.57% -5.41%
Inventory $427.1M $407.1M
Prepaid Expenses
Receivables $432.0M $399.0M
Other Receivables $35.00M $19.00M
Total Short-Term Assets $1.601B $1.971B
YoY Change -18.76% 16.68%
LONG-TERM ASSETS
Property, Plant & Equipment $1.786B $1.310B
YoY Change 36.33% 11.0%
Goodwill $61.26M
YoY Change
Intangibles
YoY Change
Long-Term Investments $48.48M $44.82M
YoY Change 8.18% -4.65%
Other Assets $273.2M $96.15M
YoY Change 184.1% -58.56%
Total Long-Term Assets $2.107B $1.471B
YoY Change 43.23% 0.83%
TOTAL ASSETS
Total Short-Term Assets $1.601B $1.971B
Total Long-Term Assets $2.107B $1.471B
Total Assets $3.708B $3.442B
YoY Change 7.74% 9.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $247.0M $208.3M
YoY Change 18.58% -7.0%
Accrued Expenses $147.4M $129.8M
YoY Change 13.63% 22.42%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $394.5M $338.1M
YoY Change 16.68% 2.45%
LONG-TERM LIABILITIES
Long-Term Debt $763.8M $764.6M
YoY Change -0.1% -0.05%
Other Long-Term Liabilities $50.78M $49.78M
YoY Change 2.01% 3.72%
Total Long-Term Liabilities $814.6M $814.4M
YoY Change 0.03% 0.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $394.5M $338.1M
Total Long-Term Liabilities $814.6M $814.4M
Total Liabilities $1.596B $1.490B
YoY Change 7.13% 1.06%
SHAREHOLDERS EQUITY
Retained Earnings $1.644B $1.493B
YoY Change 10.09%
Common Stock $507.3M $482.6M
YoY Change 5.12%
Preferred Stock
YoY Change
Treasury Stock (at cost) $26.59M $13.30M
YoY Change 99.86%
Treasury Stock Shares 446.8K shares 284.5K shares
Shareholders Equity $2.112B $1.952B
YoY Change
Total Liabilities & Shareholders Equity $3.708B $3.442B
YoY Change 7.74% 9.34%

Cashflow Statement

Concept 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income $145.8M $115.5M
YoY Change 26.25% 42.51%
Depreciation, Depletion And Amortization $40.21M $35.78M
YoY Change 12.37% 9.08%
Cash From Operating Activities $139.2M $210.5M
YoY Change -33.87% 148.82%
INVESTING ACTIVITIES
Capital Expenditures $147.1M $75.67M
YoY Change 94.39% 96.42%
Acquisitions
YoY Change
Other Investing Activities -$120.4M $46.90M
YoY Change -356.72% 2031.82%
Cash From Investing Activities -$267.6M -$30.50M
YoY Change 777.38% -19.95%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -24.10M 35.40M
YoY Change -168.08% 213.27%
NET CHANGE
Cash From Operating Activities 139.2M 210.5M
Cash From Investing Activities -267.6M -30.50M
Cash From Financing Activities -24.10M 35.40M
Net Change In Cash -152.5M 215.4M
YoY Change -170.8% 272.66%
FREE CASH FLOW
Cash From Operating Activities $139.2M $210.5M
Capital Expenditures $147.1M $75.67M
Free Cash Flow -$7.889M $134.8M
YoY Change -105.85% 192.63%

Facts In Submission

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wlk Amortization Of Other Assets
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AmortizationOfOtherAssets
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wlk Increase Decrease In Prepaid Expenses And Other Current Assets
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NetIncomeLossAvailableToParticipatingSecurities
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wlk Net Income Loss Available To Participating Securities
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wlk Provision For Recovery Of Doubtful Accounts
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ProvisionForRecoveryOfDoubtfulAccounts
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CY2012Q4 wlk Trade Customer And Affiliate Receivable Net Current
TradeCustomerAndAffiliateReceivableNetCurrent
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wlk Unrecognized Tax Benefits Expected Reduction Resulting From Expiration Of Applicable Statute Of Limitations Within Next Twelve Months
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dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
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dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Period End Date
DocumentPeriodEndDate
2013-06-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001262823
CY2013Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
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dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
WESTLAKE CHEMICAL CORP
dei Trading Symbol
TradingSymbol
WLK

Files In Submission

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