$WLKP
Westlake Chemical Partners LP

2016 Q2 Form 10-Q Financial Statement

#000160466516000044 Filed on August 09, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2
Revenue $210.8M $251.7M
YoY Change -16.23% -51.98%
Cost Of Revenue $122.5M $157.2M
YoY Change -22.09% -43.38%
Gross Profit $88.38M $94.53M
YoY Change -6.5% -61.66%
Gross Profit Margin 41.92% 37.56%
Selling, General & Admin $5.848M $5.995M
YoY Change -2.45% -2.76%
% of Gross Profit 6.62% 6.34%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $17.09M $16.18M
YoY Change 5.64% 2.94%
% of Gross Profit 19.34% 17.12%
Operating Expenses $5.848M $5.995M
YoY Change -2.45% -2.76%
Operating Profit $82.53M $88.53M
YoY Change -6.78% -63.17%
Interest Expense -$1.200M -$1.400M
YoY Change -14.29% -65.85%
% of Operating Profit -1.45% -1.58%
Other Income/Expense, Net $159.0K $33.00K
YoY Change 381.82% -97.64%
Pretax Income $81.49M $87.20M
YoY Change -6.55% -63.31%
Income Tax $297.0K -$41.00K
% Of Pretax Income 0.36% -0.05%
Net Earnings $9.344M $10.44M
YoY Change -10.52% -93.21%
Net Earnings / Revenue 4.43% 4.15%
Basic Earnings Per Share
Diluted Earnings Per Share $343.2K $383.8K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $151.3M $137.3M
YoY Change 10.2%
Cash & Equivalents $151.3M $137.3M
Short-Term Investments
Other Short-Term Assets $100.0K $0.00
YoY Change -100.0%
Inventory $2.493M $3.856M
Prepaid Expenses
Receivables $68.70M $58.00M
Other Receivables $0.00 $0.00
Total Short-Term Assets $222.6M $199.1M
YoY Change 11.76% 22.07%
LONG-TERM ASSETS
Property, Plant & Equipment $1.203B $914.3M
YoY Change 31.61% 9.41%
Goodwill $5.814M $5.814M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $98.18M $50.02M
YoY Change 96.28% -24.28%
Total Long-Term Assets $1.330B $964.3M
YoY Change 37.89% 5.74%
TOTAL ASSETS
Total Short-Term Assets $222.6M $199.1M
Total Long-Term Assets $1.330B $964.3M
Total Assets $1.552B $1.163B
YoY Change 33.42% 8.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $67.17M $22.42M
YoY Change 199.61% -80.36%
Accrued Expenses $77.07M $17.46M
YoY Change 341.5% -40.05%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $170.8M $54.40M
YoY Change 213.98% -62.04%
LONG-TERM LIABILITIES
Long-Term Debt $515.3M $281.0M
YoY Change 83.38% -22.93%
Other Long-Term Liabilities $640.0K $35.00K
YoY Change 1728.57% -96.38%
Total Long-Term Liabilities $640.0K $35.00K
YoY Change 1728.57% -96.38%
TOTAL LIABILITIES
Total Short-Term Liabilities $170.8M $54.40M
Total Long-Term Liabilities $640.0K $35.00K
Total Liabilities $688.5M $337.0M
YoY Change 104.27% -51.75%
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 $100.2M $91.40M
YoY Change
Total Liabilities & Shareholders Equity $1.552B $1.163B
YoY Change 33.42% 8.22%

Cashflow Statement

Concept 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income $9.344M $10.44M
YoY Change -10.52% -93.21%
Depreciation, Depletion And Amortization $17.09M $16.18M
YoY Change 5.64% 2.94%
Cash From Operating Activities $72.70M $116.7M
YoY Change -37.7% -35.52%
INVESTING ACTIVITIES
Capital Expenditures -$89.40M -$56.00M
YoY Change 59.64% 2.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$89.40M -$56.00M
YoY Change 59.64% 2.19%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -10.60M -68.30M
YoY Change -84.48% -45.88%
NET CHANGE
Cash From Operating Activities 72.70M 116.7M
Cash From Investing Activities -89.40M -56.00M
Cash From Financing Activities -10.60M -68.30M
Net Change In Cash -27.30M -7.600M
YoY Change 259.21% -51002736640000220.0%
FREE CASH FLOW
Cash From Operating Activities $72.70M $116.7M
Capital Expenditures -$89.40M -$56.00M
Free Cash Flow $162.1M $172.7M
YoY Change -6.14% -26.79%

Facts In Submission

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us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
98000 USD
CY2015Q2 us-gaap Profit Loss
ProfitLoss
87243000 USD
us-gaap Profit Loss
ProfitLoss
175632000 USD
CY2016Q2 us-gaap Profit Loss
ProfitLoss
81192000 USD
us-gaap Profit Loss
ProfitLoss
183963000 USD
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1020469000 USD
CY2016Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1203249000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
170000 USD
CY2015Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
11927000 USD
CY2016Q2 us-gaap Receivables Net Current
ReceivablesNetCurrent
9620000 USD
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
135341000 USD
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
500000 USD
CY2015Q2 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
204669000 USD
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
413582000 USD
CY2016Q2 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
181635000 USD
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
412895000 USD
CY2015Q2 us-gaap Sales Revenue Net
SalesRevenueNet
251705000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
510096000 USD
CY2016Q2 us-gaap Sales Revenue Net
SalesRevenueNet
210841000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
463445000 USD
CY2015Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5995000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
11995000 USD
CY2016Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5848000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
11945000 USD
CY2015Q2 us-gaap Undistributed Earnings
UndistributedEarnings
2569000 USD
us-gaap Undistributed Earnings
UndistributedEarnings
3414000 USD
CY2016Q2 us-gaap Undistributed Earnings
UndistributedEarnings
480000 USD
us-gaap Undistributed Earnings
UndistributedEarnings
3989000 USD
CY2015Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
27059730 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
27059730 shares
CY2016Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
27059730 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
27059730 shares
CY2015Q4 wlkp Accrued Capital Expenditures Current
AccruedCapitalExpendituresCurrent
14745000 USD
CY2016Q2 wlkp Accrued Capital Expenditures Current
AccruedCapitalExpendituresCurrent
47985000 USD
CY2015Q4 wlkp Accrued Turnaround Costs Current
AccruedTurnaroundCostsCurrent
0 USD
CY2016Q2 wlkp Accrued Turnaround Costs Current
AccruedTurnaroundCostsCurrent
13702000 USD
CY2015Q4 wlkp Accumulated Amortization Noncurrent Assets Other
AccumulatedAmortizationNoncurrentAssetsOther
2620000 USD
CY2016Q2 wlkp Accumulated Amortization Noncurrent Assets Other
AccumulatedAmortizationNoncurrentAssetsOther
2925000 USD
CY2015Q4 wlkp Accumulated Amortization Total Deferred Chargesand Other Assets Non Current
AccumulatedAmortizationTotalDeferredChargesandOtherAssetsNonCurrent
70387000 USD
CY2016Q2 wlkp Accumulated Amortization Total Deferred Chargesand Other Assets Non Current
AccumulatedAmortizationTotalDeferredChargesandOtherAssetsNonCurrent
55272000 USD
CY2015Q4 wlkp Accumulated Amortization Turnaround Costs
AccumulatedAmortizationTurnaroundCosts
67767000 USD
CY2016Q2 wlkp Accumulated Amortization Turnaround Costs
AccumulatedAmortizationTurnaroundCosts
52347000 USD
wlkp Increase Decrease In Prepaid Expenses And Other Current Assets
IncreaseDecreaseInPrepaidExpensesAndOtherCurrentAssets
-182000 USD
wlkp Increase Decrease In Prepaid Expenses And Other Current Assets
IncreaseDecreaseInPrepaidExpensesAndOtherCurrentAssets
-194000 USD
CY2015Q2 wlkp Increase Decreasein Capital Expenditure Accrual
IncreaseDecreaseinCapitalExpenditureAccrual
-8594000 USD
CY2016Q2 wlkp Increase Decreasein Capital Expenditure Accrual
IncreaseDecreaseinCapitalExpenditureAccrual
-50354000 USD
CY2015Q4 wlkp Interest Rate Contract Gross
InterestRateContractGross
436000 USD
CY2016Q2 wlkp Interest Rate Contract Gross
InterestRateContractGross
0 USD
CY2015Q4 wlkp Interest Rate Contract Net
InterestRateContractNet
436000 USD
CY2016Q2 wlkp Interest Rate Contract Net
InterestRateContractNet
0 USD
CY2015Q4 wlkp Noncurrent Assets Other Gross
NoncurrentAssetsOtherGross
8710000 USD
CY2016Q2 wlkp Noncurrent Assets Other Gross
NoncurrentAssetsOtherGross
8710000 USD
CY2015Q4 wlkp Noncurrent Assets Other Net
NoncurrentAssetsOtherNet
6090000 USD
CY2016Q2 wlkp Noncurrent Assets Other Net
NoncurrentAssetsOtherNet
5785000 USD
wlkp Numberof Flares
NumberofFlares
3 flare
CY2015Q4 wlkp Other Assets Noncurrent Accumulated Amortization
OtherAssetsNoncurrentAccumulatedAmortization
70387000 USD
CY2016Q2 wlkp Other Assets Noncurrent Accumulated Amortization
OtherAssetsNoncurrentAccumulatedAmortization
55272000 USD
CY2015Q4 wlkp Other Assets Noncurrent Gross
OtherAssetsNoncurrentGross
114980000 USD
CY2016Q2 wlkp Other Assets Noncurrent Gross
OtherAssetsNoncurrentGross
153448000 USD
CY2015Q4 wlkp Total Deferred Chargesand Other Assets Non Current Net
TotalDeferredChargesandOtherAssetsNonCurrentNet
38779000 USD
CY2016Q2 wlkp Total Deferred Chargesand Other Assets Non Current Net
TotalDeferredChargesandOtherAssetsNonCurrentNet
92362000 USD
CY2015Q4 wlkp Total Deferred Chargesand Other Assets Noncurrent Gross
TotalDeferredChargesandOtherAssetsNoncurrentGross
109166000 USD
CY2016Q2 wlkp Total Deferred Chargesand Other Assets Noncurrent Gross
TotalDeferredChargesandOtherAssetsNoncurrentGross
147634000 USD
CY2015Q4 wlkp Turnaround Costs Gross
TurnaroundCostsGross
100020000 USD
CY2016Q2 wlkp Turnaround Costs Gross
TurnaroundCostsGross
138924000 USD
CY2015Q4 wlkp Turnaround Costs Net
TurnaroundCostsNet
32253000 USD
CY2016Q2 wlkp Turnaround Costs Net
TurnaroundCostsNet
86577000 USD

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0001604665-16-000044.txt Edgar Link pending
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a2016063010q.htm Edgar Link pending
exhibit101_20160630.htm Edgar Link pending
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wlkp-20160630.xml Edgar Link completed
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wlkp-20160630_pre.xml Edgar Link unprocessable