$WLK
WESTLAKE CORP

2021 Q2 Form 10-Q Financial Statement

#000126282321000059 Filed on August 03, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $2.859B $1.709B
YoY Change 67.29% -20.29%
Cost Of Revenue $1.987B $1.540B
YoY Change 29.03% -14.63%
Gross Profit $872.0M $169.0M
YoY Change 415.98% -50.29%
Gross Profit Margin 30.5% 9.89%
Selling, General & Admin $125.0M $104.0M
YoY Change 20.19% -11.11%
% of Gross Profit 14.33% 61.54%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $202.0M $191.0M
YoY Change 5.76% 8.52%
% of Gross Profit 23.17% 113.02%
Operating Expenses $125.0M $104.0M
YoY Change 20.19% -11.11%
Operating Profit $720.0M $36.00M
YoY Change 1900.0% -81.44%
Interest Expense $36.00M $40.00M
YoY Change -10.0% 42.86%
% of Operating Profit 5.0% 111.11%
Other Income/Expense, Net $10.00M $9.000M
YoY Change 11.11% 350.0%
Pretax Income $694.0M $5.000M
YoY Change 13780.0% -97.02%
Income Tax $158.0M -$19.00M
% Of Pretax Income 22.77% -380.0%
Net Earnings $522.0M $15.00M
YoY Change 3380.0% -87.39%
Net Earnings / Revenue 18.26% 0.88%
Basic Earnings Per Share $4.06 $0.11
Diluted Earnings Per Share $4.04 $0.11
COMMON SHARES
Basic Shares Outstanding 128.1M shares 127.7M shares
Diluted Shares Outstanding 128.9M shares 127.8M shares

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.844B $1.109B
YoY Change 66.28% 171.15%
Cash & Equivalents $1.844B $1.109B
Short-Term Investments
Other Short-Term Assets $87.00M $51.00M
YoY Change 70.59% 6.25%
Inventory $965.0M $845.0M
Prepaid Expenses
Receivables $1.476B $916.0M
Other Receivables $45.00M $33.00M
Total Short-Term Assets $4.445B $3.165B
YoY Change 40.44% 21.97%
LONG-TERM ASSETS
Property, Plant & Equipment $6.919B $6.887B
YoY Change 0.46% 0.81%
Goodwill $1.085B $1.070B
YoY Change 1.4% -0.83%
Intangibles
YoY Change
Long-Term Investments $1.009B $1.052B
YoY Change -4.09%
Other Assets $256.0M $266.0M
YoY Change -3.76% -53.0%
Total Long-Term Assets $10.27B $10.39B
YoY Change -1.12% 7.99%
TOTAL ASSETS
Total Short-Term Assets $4.445B $3.165B
Total Long-Term Assets $10.27B $10.39B
Total Assets $14.72B $13.56B
YoY Change 8.59% 10.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $667.0M $444.0M
YoY Change 50.23% -14.78%
Accrued Expenses $818.0M $665.0M
YoY Change 23.01% -9.28%
Deferred Revenue
YoY Change
Short-Term Debt $17.00M $0.00
YoY Change
Long-Term Debt Due $20.00M
YoY Change
Total Short-Term Liabilities $1.485B $1.109B
YoY Change 33.9% -11.56%
LONG-TERM LIABILITIES
Long-Term Debt $3.555B $3.745B
YoY Change -5.07% 40.31%
Other Long-Term Liabilities $202.0M $188.0M
YoY Change 7.45% -6.0%
Total Long-Term Liabilities $3.757B $3.933B
YoY Change -4.47% 37.09%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.485B $1.109B
Total Long-Term Liabilities $3.757B $3.933B
Total Liabilities $7.380B $7.118B
YoY Change 3.68% 19.49%
SHAREHOLDERS EQUITY
Retained Earnings $6.633B $5.840B
YoY Change 13.58% 4.29%
Common Stock $572.0M $559.0M
YoY Change 2.33% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $378.0M $411.0M
YoY Change -8.03% 5.38%
Treasury Stock Shares
Shareholders Equity $6.771B $5.901B
YoY Change
Total Liabilities & Shareholders Equity $14.72B $13.56B
YoY Change 8.59% 10.96%

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income $522.0M $15.00M
YoY Change 3380.0% -87.39%
Depreciation, Depletion And Amortization $202.0M $191.0M
YoY Change 5.76% 8.52%
Cash From Operating Activities $617.0M $448.0M
YoY Change 37.72% 40.0%
INVESTING ACTIVITIES
Capital Expenditures $129.0M $127.0M
YoY Change 1.57% -38.94%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$1.000M
YoY Change -100.0% -98.75%
Cash From Investing Activities -$129.0M -$128.0M
YoY Change 0.78% -55.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -38.00M -752.0M
YoY Change -94.95% 989.86%
NET CHANGE
Cash From Operating Activities 617.0M 448.0M
Cash From Investing Activities -129.0M -128.0M
Cash From Financing Activities -38.00M -752.0M
Net Change In Cash 450.0M -432.0M
YoY Change -204.17% 1067.57%
FREE CASH FLOW
Cash From Operating Activities $617.0M $448.0M
Capital Expenditures $129.0M $127.0M
Free Cash Flow $488.0M $321.0M
YoY Change 52.02% 186.61%

Facts In Submission

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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
270000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
291000000 USD
CY2021Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
720000000 USD
CY2020Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
36000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
1066000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
172000000 USD
CY2021Q2 us-gaap Interest Expense
InterestExpense
36000000 USD
CY2020Q2 us-gaap Interest Expense
InterestExpense
40000000 USD
us-gaap Interest Expense
InterestExpense
69000000 USD
us-gaap Interest Expense
InterestExpense
71000000 USD
CY2021Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
10000000 USD
CY2020Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
9000000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
22000000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
20000000 USD
CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
694000000 USD
CY2020Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
5000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1019000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
121000000 USD
CY2021Q2 us-gaap Assets
Assets
14719000000 USD
CY2020Q4 us-gaap Assets
Assets
13835000000 USD
us-gaap Partners Capital Account Units Sold In Public Offering
PartnersCapitalAccountUnitsSoldInPublicOffering
12937500 shares
CY2018Q4 wlk Partners Units Maximum Aggregate Offering Amount Atm
PartnersUnitsMaximumAggregateOfferingAmountATM
50000000 USD

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