$WLKP
Westlake Chemical Partners LP

2014 Q4 Form 10-K Financial Statement

#000160466515000007 Filed on March 09, 2015

View on sec.gov

Income Statement

Concept 2014 Q4 2012
Revenue $273.5M $2.249B
YoY Change -0.08%
Cost Of Revenue $171.6M $1.613B
YoY Change -12.41%
Gross Profit $102.0M $635.7M
YoY Change 55.39%
Gross Profit Margin 37.27% 28.26%
Selling, General & Admin $6.500M $24.10M
YoY Change -0.82%
% of Gross Profit 6.38% 3.79%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $19.10M $53.13M
YoY Change -66.78% -7.12%
% of Gross Profit 18.73% 8.36%
Operating Expenses $6.400M $24.10M
YoY Change -1.23%
Operating Profit $95.51M $611.6M
YoY Change 58.98%
Interest Expense -$700.0K -$4.800M
YoY Change -21.31%
% of Operating Profit -0.73% -0.78%
Other Income/Expense, Net $0.00 $0.00
YoY Change
Pretax Income $94.90M $606.8M
YoY Change 60.27%
Income Tax $900.0K $210.9M
% Of Pretax Income 0.95% 34.76%
Net Earnings $93.93M $395.9M
YoY Change 60.29%
Net Earnings / Revenue 34.34% 17.6%
Basic Earnings Per Share
Diluted Earnings Per Share $317.3K $15.59M
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q4 2012
SHORT-TERM ASSETS
Cash & Short-Term Investments $133.8M
YoY Change
Cash & Equivalents $133.8M
Short-Term Investments
Other Short-Term Assets $200.0K $19.80M
YoY Change -96.0%
Inventory $6.634M $110.3M
Prepaid Expenses
Receivables $56.00M $69.60M
Other Receivables $6.000K $900.0K
Total Short-Term Assets $196.6M $200.6M
YoY Change 1.94%
LONG-TERM ASSETS
Property, Plant & Equipment $842.1M $591.1M
YoY Change 10.37%
Goodwill $5.814M
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00 $10.80M
YoY Change -100.0%
Other Assets $57.73M $26.30M
YoY Change -23.22%
Total Long-Term Assets $899.8M $634.2M
YoY Change 6.03%
TOTAL ASSETS
Total Short-Term Assets $196.6M $200.6M
Total Long-Term Assets $899.8M $634.2M
Total Assets $1.096B $834.8M
YoY Change 5.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.61M $108.3M
YoY Change -89.71%
Accrued Expenses $11.90M $38.30M
YoY Change -55.41%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $31.98M $160.3M
YoY Change -78.57%
LONG-TERM LIABILITIES
Long-Term Debt $227.6M $253.0M
YoY Change -10.04%
Other Long-Term Liabilities $15.00K $1.100M
YoY Change -98.44%
Total Long-Term Liabilities $15.00K $254.1M
YoY Change -98.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $31.98M $160.3M
Total Long-Term Liabilities $15.00K $254.1M
Total Liabilities $261.5M $561.0M
YoY Change -55.38%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $87.50M $273.8M
YoY Change
Total Liabilities & Shareholders Equity $1.096B $834.8M
YoY Change 5.28%

Cashflow Statement

Concept 2014 Q4 2012
OPERATING ACTIVITIES
Net Income $93.93M $395.9M
YoY Change 60.29%
Depreciation, Depletion And Amortization $19.10M $53.13M
YoY Change -66.78% -7.12%
Cash From Operating Activities $118.0M $496.8M
YoY Change -73.15% 84.89%
INVESTING ACTIVITIES
Capital Expenditures -$58.50M -$158.4M
YoY Change -62.97% 114.93%
Acquisitions
YoY Change
Other Investing Activities $0.00 $400.0K
YoY Change -100.0% -80.0%
Cash From Investing Activities -$58.50M -$158.0M
YoY Change -64.42% 120.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -15.80M -338.8M
YoY Change -94.26% 71.89%
NET CHANGE
Cash From Operating Activities 118.0M 496.8M
Cash From Investing Activities -58.50M -158.0M
Cash From Financing Activities -15.80M -338.8M
Net Change In Cash 43.70M 0.000
YoY Change -43800.0%
FREE CASH FLOW
Cash From Operating Activities $118.0M $496.8M
Capital Expenditures -$58.50M -$158.4M
Free Cash Flow $176.5M $655.2M
YoY Change -70.46% 91.36%

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53578000 USD
CY2014Q4 wlkp Other Assets Noncurrent Gross
OtherAssetsNoncurrentGross
111311000 USD
CY2014Q4 wlkp Other Receivables Current
OtherReceivablesCurrent
6000 USD
wlkp Partners Capital Predecessor Net Liabilities Not Assumed By Subsidiary
PartnersCapitalPredecessorNetLiabilitiesNotAssumedBySubsidiary
239706000 USD
CY2014Q3 wlkp Paymentsof Unit Issuance Costs
PaymentsofUnitIssuanceCosts
24412000 USD
CY2014 wlkp Percentage Paid Of Minimum Quarterly Distribution Ending Subordination Period
PercentagePaidOfMinimumQuarterlyDistributionEndingSubordinationPeriod
1.5
CY2014 wlkp Plant And Equipment Planned Major Maintenance Activities Amortization Period Maximum
PlantAndEquipmentPlannedMajorMaintenanceActivitiesAmortizationPeriodMaximum
P6Y
CY2014 wlkp Plant And Equipment Planned Major Maintenance Activities Amortization Period Minimum
PlantAndEquipmentPlannedMajorMaintenanceActivitiesAmortizationPeriodMinimum
P3Y
CY2014Q4 wlkp Property Plant And Equipment Gross Excluding Construction In Progress
PropertyPlantAndEquipmentGrossExcludingConstructionInProgress
1227585000 USD
CY2014Q4 wlkp Property Plant And Equipment Net Excluding Construction In Progress
PropertyPlantAndEquipmentNetExcludingConstructionInProgress
677017000 USD
CY2014 wlkp Threshold Period Past Due Accounts Receivable Reviewed
ThresholdPeriodPastDueAccountsReceivableReviewed
P90D
CY2014Q4 wlkp Total Deferred Chargesand Other Assets Non Current Net
TotalDeferredChargesandOtherAssetsNonCurrentNet
51919000 USD
CY2014Q4 wlkp Total Deferred Chargesand Other Assets Noncurrent Gross
TotalDeferredChargesandOtherAssetsNoncurrentGross
105497000 USD
CY2014Q4 wlkp Trade Customer And Affiliate Receivable Net Current
TradeCustomerAndAffiliateReceivableNetCurrent
37514000 USD
CY2014 us-gaap Revenue Recognition Accounting Policy Gross And Net Revenue Disclosure
RevenueRecognitionAccountingPolicyGrossAndNetRevenueDisclosure
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Revenue Recognition</font></div><div style="line-height:120%;padding-top:6px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Revenue is recognized when persuasive evidence of an arrangement exists, products are delivered to the customer, the sales price is fixed or determinable, and collectibility is reasonably assured. Title and risk of loss passes to the customer upon delivery under executed customer purchase orders or contracts. Provisions for discounts, rebates and returns are provided for in the same period as the related sales are recorded.</font></div></div>
CY2014 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:6px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and the disclosure of contingent assets and liabilities. Actual results could differ from those estimates.</font></div></div>

Files In Submission

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0001604665-15-000007-index-headers.html Edgar Link pending
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