2016 Q2 Form 10-Q Financial Statement

#000126282316000041 Filed on August 09, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2
Revenue $1.086B $1.185B
YoY Change -8.35% 18.67%
Cost Of Revenue $844.7M $831.8M
YoY Change 1.55% 20.1%
Gross Profit $241.0M $353.2M
YoY Change -31.76% 15.43%
Gross Profit Margin 22.19% 29.8%
Selling, General & Admin $53.72M $57.81M
YoY Change -7.07% 47.53%
% of Gross Profit 22.29% 16.37%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $67.25M $60.34M
YoY Change 11.45% 24.41%
% of Gross Profit 27.9% 17.08%
Operating Expenses $53.72M $57.81M
YoY Change -7.07% 47.53%
Operating Profit $180.0M $295.4M
YoY Change -39.06% 10.71%
Interest Expense $5.915M $8.958M
YoY Change -33.97% -6.09%
% of Operating Profit 3.29% 3.03%
Other Income/Expense, Net $8.181M $22.06M
YoY Change -62.91% 379.42%
Pretax Income $182.2M $308.5M
YoY Change -40.93% 17.81%
Income Tax $66.58M $98.41M
% Of Pretax Income 36.54% 31.9%
Net Earnings $111.0M $205.1M
YoY Change -45.88% 21.04%
Net Earnings / Revenue 10.22% 17.31%
Basic Earnings Per Share $0.85 $1.55
Diluted Earnings Per Share $0.85 $1.54
COMMON SHARES
Basic Shares Outstanding 129.6M shares 132.5M shares
Diluted Shares Outstanding 130.0M shares 133.0M shares

Balance Sheet

Concept 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.123B $1.027B
YoY Change 9.35% 17.24%
Cash & Equivalents $771.0M $1.027B
Short-Term Investments $352.0M
Other Short-Term Assets $40.00M $55.00M
YoY Change -27.27% 0.0%
Inventory $448.5M $486.3M
Prepaid Expenses
Receivables $493.2M $562.0M
Other Receivables $20.52M $26.84M
Total Short-Term Assets $2.190B $2.166B
YoY Change 1.1% 18.86%
LONG-TERM ASSETS
Property, Plant & Equipment $3.231B $2.856B
YoY Change 13.13% 28.8%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $8.929M $37.75M
YoY Change -76.34% -45.19%
Other Assets $491.1M $351.5M
YoY Change 39.7% 34.71%
Total Long-Term Assets $3.731B $3.245B
YoY Change 14.97% 27.4%
TOTAL ASSETS
Total Short-Term Assets $2.190B $2.166B
Total Long-Term Assets $3.731B $3.245B
Total Assets $5.921B $5.411B
YoY Change 9.42% 23.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $306.0M $283.0M
YoY Change 8.13% 28.87%
Accrued Expenses $313.0M $251.7M
YoY Change 24.36% 50.41%
Deferred Revenue
YoY Change
Short-Term Debt $1.000M $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $620.1M $534.7M
YoY Change 15.98% 38.18%
LONG-TERM LIABILITIES
Long-Term Debt $758.0M $764.1M
YoY Change -0.79% 0.02%
Other Long-Term Liabilities $139.6M $162.8M
YoY Change -14.25% 414.48%
Total Long-Term Liabilities $139.6M $926.8M
YoY Change -84.94% 16.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $620.1M $534.7M
Total Long-Term Liabilities $139.6M $926.8M
Total Liabilities $2.183B $1.994B
YoY Change 9.49% 21.48%
SHAREHOLDERS EQUITY
Retained Earnings $3.297B $2.863B
YoY Change 15.15% 27.33%
Common Stock $547.1M $538.7M
YoY Change 1.56% 2.64%
Preferred Stock
YoY Change
Treasury Stock (at cost) $322.8M $158.5M
YoY Change 103.7% 250.75%
Treasury Stock Shares 5.868M shares 2.646M shares
Shareholders Equity $3.439B $3.123B
YoY Change
Total Liabilities & Shareholders Equity $5.921B $5.411B
YoY Change 9.42% 23.84%

Cashflow Statement

Concept 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income $111.0M $205.1M
YoY Change -45.88% 21.04%
Depreciation, Depletion And Amortization $67.25M $60.34M
YoY Change 11.45% 24.41%
Cash From Operating Activities $241.0M $244.8M
YoY Change -1.55% 11.42%
INVESTING ACTIVITIES
Capital Expenditures $150.8M $108.1M
YoY Change 39.52% 1.83%
Acquisitions
YoY Change
Other Investing Activities $171.6M $30.40M
YoY Change 464.47% -87.53%
Cash From Investing Activities $20.80M -$77.60M
YoY Change -126.8% -156.44%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -103.4M -87.40M
YoY Change 18.31% 528.78%
NET CHANGE
Cash From Operating Activities 241.0M 244.8M
Cash From Investing Activities 20.80M -77.60M
Cash From Financing Activities -103.4M -87.40M
Net Change In Cash 158.4M 79.80M
YoY Change 98.5% -76.76%
FREE CASH FLOW
Cash From Operating Activities $241.0M $244.8M
Capital Expenditures $150.8M $108.1M
Free Cash Flow $90.17M $136.7M
YoY Change -34.04% 20.4%

Facts In Submission

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us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
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319000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
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1895000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
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319000 USD
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us-gaap Gain Loss On Disposition Of Assets
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us-gaap Gross Profit
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us-gaap Gross Profit
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Loss From Equity Method Investments
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us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
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us-gaap Increase Decrease In Inventories
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us-gaap Increase Decrease In Inventories
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us-gaap Increase Decrease In Operating Capital
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5098000 USD
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1
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2016Q2 us-gaap Other Comprehensive Income Defined Benefit Plans Tax Portion Attributable To Parent
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us-gaap Other Comprehensive Income Defined Benefit Plans Tax Portion Attributable To Parent
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us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Reclassification Adjustments And Tax
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us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Reclassification Adjustments And Tax
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Reclassification Adjustments And Tax
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CY2016Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Reclassification Adjustments And Tax
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206000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Reclassification Adjustments And Tax
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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CY2015Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
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CY2015Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
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CY2016Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
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us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
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us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
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us-gaap Payments For Proceeds From Derivative Instrument Investing Activities
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us-gaap Payments Of Debt Issuance Costs
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us-gaap Payments To Acquire Investments
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us-gaap Payments To Acquire Limited Partnership Interests
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Property Plant And Equipment
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0 shares
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0 shares
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0 USD
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15037000 USD
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
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15037000 USD
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us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
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15037000 USD
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302432000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
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0 USD
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105000 USD
us-gaap Proceeds From Stock Options Exercised
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831000 USD
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481000 USD
CY2015Q2 us-gaap Profit Loss
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210061000 USD
us-gaap Profit Loss
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360468000 USD
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244556000 USD
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3230523000 USD
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228000 USD
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403000 USD
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1992000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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1565000 USD
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585000 USD
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412000 USD
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8626000 USD
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RetainedEarningsAccumulatedDeficit
3109987000 USD
CY2016Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
3296922000 USD
CY2015Q2 us-gaap Sales Revenue Net
SalesRevenueNet
1185002000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
2288533000 USD
CY2016Q2 us-gaap Sales Revenue Net
SalesRevenueNet
1086061000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
2061248000 USD
CY2015Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
57807000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
113073000 USD
CY2016Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
61428000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
114737000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
4905000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
5084000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
831000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
481000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
3265878000 USD
CY2016Q2 us-gaap Stockholders Equity
StockholdersEquity
3439163000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3201888000 USD
CY2015Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3417175000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3561931000 USD
CY2016Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3737436000 USD
CY2015Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
4444898 shares
CY2016Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
5867617 shares
CY2015Q4 us-gaap Treasury Stock Value
TreasuryStockValue
258312000 USD
CY2016Q2 us-gaap Treasury Stock Value
TreasuryStockValue
322802000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
62804000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
66725000 USD
CY2016Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 USD
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
133044975 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
133124697 shares
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
129980527 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
130290521 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
132538123 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
132625857 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
129583224 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
129886594 shares
CY2015Q4 wlk Accounts Payable And Notes Payable Current
AccountsPayableAndNotesPayableCurrent
235329000 USD
CY2016Q2 wlk Accounts Payable And Notes Payable Current
AccountsPayableAndNotesPayableCurrent
307116000 USD
CY2015Q4 wlk Accrued Capital Expenditures Current
AccruedCapitalExpendituresCurrent
21597000 USD
CY2016Q2 wlk Accrued Capital Expenditures Current
AccruedCapitalExpendituresCurrent
52171000 USD
CY2015Q4 wlk Accrued Rebates Current
AccruedRebatesCurrent
46460000 USD
CY2016Q2 wlk Accrued Rebates Current
AccruedRebatesCurrent
31691000 USD
wlk Acquisition Of Business Net Of Cash Acquired
AcquisitionOfBusinessNetOfCashAcquired
-15782000 USD
wlk Acquisition Of Business Net Of Cash Acquired
AcquisitionOfBusinessNetOfCashAcquired
0 USD
wlk Business Combination Bargain Purchase Gain Net
BusinessCombinationBargainPurchaseGainNet
21045000 USD
wlk Business Combination Bargain Purchase Gain Net
BusinessCombinationBargainPurchaseGainNet
0 USD
CY2015Q2 wlk Business Combination Bargain Purchase Gain Net Of Related Expenses
BusinessCombinationBargainPurchaseGainNetOfRelatedExpenses
20430000 USD
wlk Other Miscellaneous Income Expense
OtherMiscellaneousIncomeExpense
290000 USD
wlk Business Combination Bargain Purchase Gain Net Of Related Expenses
BusinessCombinationBargainPurchaseGainNetOfRelatedExpenses
20430000 USD
CY2016Q2 wlk Business Combination Bargain Purchase Gain Net Of Related Expenses
BusinessCombinationBargainPurchaseGainNetOfRelatedExpenses
0 USD
wlk Business Combination Bargain Purchase Gain Net Of Related Expenses
BusinessCombinationBargainPurchaseGainNetOfRelatedExpenses
0 USD
wlk Consolidation Lessthan Wholly Owned Subsidiary Parent Ownership Interest Percent
ConsolidationLessthanWhollyOwnedSubsidiaryParentOwnershipInterestPercent
1
wlk Depreciation And Amortization Including Amortization Of Debt Issuance Costs
DepreciationAndAmortizationIncludingAmortizationOfDebtIssuanceCosts
119983000 USD
wlk Depreciation And Amortization Including Amortization Of Debt Issuance Costs
DepreciationAndAmortizationIncludingAmortizationOfDebtIssuanceCosts
133381000 USD
CY2015Q2 wlk Income Loss From Equity Method Investments Subsidiaries
IncomeLossFromEquityMethodInvestmentsSubsidiaries
0 USD
wlk Income Loss From Equity Method Investments Subsidiaries
IncomeLossFromEquityMethodInvestmentsSubsidiaries
0 USD
CY2016Q2 wlk Income Loss From Equity Method Investments Subsidiaries
IncomeLossFromEquityMethodInvestmentsSubsidiaries
0 USD
wlk Income Loss From Equity Method Investments Subsidiaries
IncomeLossFromEquityMethodInvestmentsSubsidiaries
0 USD
wlk Increase Decrease In Prepaid Expenses And Other Current Assets
IncreaseDecreaseInPrepaidExpensesAndOtherCurrentAssets
10844000 USD
wlk Increase Decrease In Prepaid Expenses And Other Current Assets
IncreaseDecreaseInPrepaidExpensesAndOtherCurrentAssets
12586000 USD
CY2015Q2 wlk Net Income Loss Available To Common Stockholders
NetIncomeLossAvailableToCommonStockholders
204842000 USD
wlk Net Income Loss Available To Common Stockholders
NetIncomeLossAvailableToCommonStockholders
350980000 USD
CY2016Q2 wlk Net Income Loss Available To Common Stockholders
NetIncomeLossAvailableToCommonStockholders
110620000 USD
wlk Net Income Loss Available To Common Stockholders
NetIncomeLossAvailableToCommonStockholders
233198000 USD
CY2015Q2 wlk Other Miscellaneous Income Expense
OtherMiscellaneousIncomeExpense
1385000 USD
CY2016Q2 wlk Other Miscellaneous Income Expense
OtherMiscellaneousIncomeExpense
-1403000 USD
wlk Other Miscellaneous Income Expense
OtherMiscellaneousIncomeExpense
-2365000 USD
wlk Proceeds From Repayments Of Intercompany Financing
ProceedsFromRepaymentsOfIntercompanyFinancing
0 USD
wlk Proceeds From Repayments Of Intercompany Financing
ProceedsFromRepaymentsOfIntercompanyFinancing
0 USD
wlk Proceedsfrom Repaymentsof Intercompany Financing Subsidiary
ProceedsfromRepaymentsofIntercompanyFinancingSubsidiary
0 USD
wlk Proceedsfrom Repaymentsof Intercompany Financing Subsidiary
ProceedsfromRepaymentsofIntercompanyFinancingSubsidiary
0 USD

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