$WLKP
Westlake Chemical Partners LP

2016 Q3 Form 10-Q Financial Statement

#000160466516000052 Filed on November 09, 2016

View on sec.gov

Income Statement

Concept 2016 Q3 2015 Q3
Revenue $229.4M $248.6M
YoY Change -7.75% -36.58%
Cost Of Revenue $142.6M $154.5M
YoY Change -7.72% -31.95%
Gross Profit $86.80M $94.15M
YoY Change -7.8% -42.94%
Gross Profit Margin 37.85% 37.87%
Selling, General & Admin $5.788M $5.831M
YoY Change -0.74% -34.19%
% of Gross Profit 6.67% 6.19%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $19.77M $16.23M
YoY Change 21.82% 8.93%
% of Gross Profit 22.78% 17.24%
Operating Expenses $5.788M $5.831M
YoY Change -0.74% -34.19%
Operating Profit $81.01M $88.31M
YoY Change -8.27% -43.44%
Interest Expense -$4.900M -$1.100M
YoY Change 345.45% -47.62%
% of Operating Profit -6.05% -1.25%
Other Income/Expense, Net -$13.00K -$73.00K
YoY Change -82.19% -115.02%
Pretax Income $76.05M $87.19M
YoY Change -12.77% -43.56%
Income Tax $194.0K $141.0K
% Of Pretax Income 0.26% 0.16%
Net Earnings $8.661M $10.10M
YoY Change -14.27% -91.45%
Net Earnings / Revenue 3.78% 4.06%
Basic Earnings Per Share
Diluted Earnings Per Share $321.0K $372.7K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $75.00M $154.3M
YoY Change -51.39% 71.44%
Cash & Equivalents $75.01M $154.3M
Short-Term Investments
Other Short-Term Assets $0.00 $400.0K
YoY Change -100.0% 33.33%
Inventory $3.428M $3.272M
Prepaid Expenses
Receivables $113.8M $58.50M
Other Receivables $0.00 $0.00
Total Short-Term Assets $192.3M $216.4M
YoY Change -11.16% 40.58%
LONG-TERM ASSETS
Property, Plant & Equipment $1.217B $962.2M
YoY Change 26.53% 19.29%
Goodwill $5.814M $5.814M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $106.5M $46.54M
YoY Change 128.83% -24.54%
Total Long-Term Assets $1.344B $1.009B
YoY Change 33.27% 16.17%
TOTAL ASSETS
Total Short-Term Assets $192.3M $216.4M
Total Long-Term Assets $1.344B $1.009B
Total Assets $1.537B $1.225B
YoY Change 25.42% 19.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $19.19M $24.87M
YoY Change -22.85% 93.9%
Accrued Expenses $20.95M $22.35M
YoY Change -6.26% 458.94%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $47.58M $56.51M
YoY Change -15.81% 61.68%
LONG-TERM LIABILITIES
Long-Term Debt $595.1M $330.5M
YoY Change 80.06% 75.33%
Other Long-Term Liabilities $243.0K $219.0K
YoY Change 10.96% 4280.0%
Total Long-Term Liabilities $243.0K $219.0K
YoY Change 10.96% 4280.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $47.58M $56.51M
Total Long-Term Liabilities $243.0K $219.0K
Total Liabilities $644.7M $388.7M
YoY Change 65.85% 72.77%
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 $100.4M $93.40M
YoY Change
Total Liabilities & Shareholders Equity $1.537B $1.225B
YoY Change 25.42% 19.85%

Cashflow Statement

Concept 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income $8.661M $10.10M
YoY Change -14.27% -91.45%
Depreciation, Depletion And Amortization $19.77M $16.23M
YoY Change 21.82% 8.93%
Cash From Operating Activities -$7.900M $101.3M
YoY Change -107.8% -5.42%
INVESTING ACTIVITIES
Capital Expenditures -$100.1M -$57.10M
YoY Change 75.31% 49.87%
Acquisitions
YoY Change
Other Investing Activities $100.0K $0.00
YoY Change -100.0%
Cash From Investing Activities -$100.1M -$57.10M
YoY Change 75.31% 50.26%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 31.70M -27.30M
YoY Change -216.12% -230.62%
NET CHANGE
Cash From Operating Activities -7.900M 101.3M
Cash From Investing Activities -100.1M -57.10M
Cash From Financing Activities 31.70M -27.30M
Net Change In Cash -76.30M 16.90M
YoY Change -551.48% -81.22%
FREE CASH FLOW
Cash From Operating Activities -$7.900M $101.3M
Capital Expenditures -$100.1M -$57.10M
Free Cash Flow $92.20M $158.4M
YoY Change -41.79% 9.09%

Facts In Submission

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CY2016Q3 us-gaap Partners Capital Including Portion Attributable To Noncontrolling Interest
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
891975000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
152572000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
268647000 USD
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
238009000 USD
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
188736000 USD
CY2015Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
267000 USD
CY2016Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
0 USD
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
238198000 USD
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
212175000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
157000 USD
CY2015Q3 us-gaap Profit Loss
ProfitLoss
87046000 USD
us-gaap Profit Loss
ProfitLoss
262678000 USD
CY2016Q3 us-gaap Profit Loss
ProfitLoss
75859000 USD
us-gaap Profit Loss
ProfitLoss
259822000 USD
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1020469000 USD
CY2016Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1217451000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
170000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
228000 USD
CY2015Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
11927000 USD
CY2016Q3 us-gaap Receivables Net Current
ReceivablesNetCurrent
15699000 USD
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
135341000 USD
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
1098000 USD
CY2015Q3 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
207856000 USD
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
621438000 USD
CY2016Q3 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
193964000 USD
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
606859000 USD
CY2015Q3 us-gaap Sales Revenue Net
SalesRevenueNet
248619000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
758715000 USD
CY2016Q3 us-gaap Sales Revenue Net
SalesRevenueNet
229354000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
692799000 USD
CY2015Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5831000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
17826000 USD
CY2016Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5788000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
17733000 USD
CY2015Q3 us-gaap Undistributed Earnings
UndistributedEarnings
2001000 USD
us-gaap Undistributed Earnings
UndistributedEarnings
5415000 USD
CY2016Q3 us-gaap Undistributed Earnings
UndistributedEarnings
-503000 USD
us-gaap Undistributed Earnings
UndistributedEarnings
3486000 USD
CY2015Q3 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
CY2016Q3 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
CY2016Q3 wlkp Accrued Capital Expenditures Current
AccruedCapitalExpendituresCurrent
4978000 USD
CY2015Q4 wlkp Accrued Maintenance Costs Current
AccruedMaintenanceCostsCurrent
2949000 USD
CY2016Q3 wlkp Accrued Maintenance Costs Current
AccruedMaintenanceCostsCurrent
3532000 USD
CY2015Q4 wlkp Accumulated Amortization Noncurrent Assets Other
AccumulatedAmortizationNoncurrentAssetsOther
2620000 USD
CY2016Q3 wlkp Accumulated Amortization Noncurrent Assets Other
AccumulatedAmortizationNoncurrentAssetsOther
3026000 USD
CY2015Q4 wlkp Accumulated Amortization Total Deferred Chargesand Other Assets Non Current
AccumulatedAmortizationTotalDeferredChargesandOtherAssetsNonCurrent
70387000 USD
CY2016Q3 wlkp Accumulated Amortization Total Deferred Chargesand Other Assets Non Current
AccumulatedAmortizationTotalDeferredChargesandOtherAssetsNonCurrent
61741000 USD
CY2015Q4 wlkp Accumulated Amortization Turnaround Costs
AccumulatedAmortizationTurnaroundCosts
67767000 USD
CY2016Q3 wlkp Accumulated Amortization Turnaround Costs
AccumulatedAmortizationTurnaroundCosts
58715000 USD
wlkp Increase Decrease In Prepaid Expenses And Other Current Assets
IncreaseDecreaseInPrepaidExpensesAndOtherCurrentAssets
170000 USD
wlkp Increase Decrease In Prepaid Expenses And Other Current Assets
IncreaseDecreaseInPrepaidExpensesAndOtherCurrentAssets
-267000 USD
CY2015Q3 wlkp Increase Decreasein Capital Expenditure Accrual
IncreaseDecreaseinCapitalExpenditureAccrual
-15850000 USD
CY2016Q3 wlkp Increase Decreasein Capital Expenditure Accrual
IncreaseDecreaseinCapitalExpenditureAccrual
15859000 USD
CY2015Q4 wlkp Interest Rate Contract Gross
InterestRateContractGross
436000 USD
CY2016Q3 wlkp Interest Rate Contract Gross
InterestRateContractGross
0 USD
CY2015Q4 wlkp Interest Rate Contract Net
InterestRateContractNet
436000 USD
CY2016Q3 wlkp Interest Rate Contract Net
InterestRateContractNet
0 USD
CY2015Q4 wlkp Noncurrent Assets Other Gross
NoncurrentAssetsOtherGross
8710000 USD
CY2016Q3 wlkp Noncurrent Assets Other Gross
NoncurrentAssetsOtherGross
8662000 USD
CY2015Q4 wlkp Noncurrent Assets Other Net
NoncurrentAssetsOtherNet
6090000 USD
CY2016Q3 wlkp Noncurrent Assets Other Net
NoncurrentAssetsOtherNet
5636000 USD
CY2015Q4 wlkp Other Assets Noncurrent Accumulated Amortization
OtherAssetsNoncurrentAccumulatedAmortization
70387000 USD
CY2016Q3 wlkp Other Assets Noncurrent Accumulated Amortization
OtherAssetsNoncurrentAccumulatedAmortization
61741000 USD
CY2015Q4 wlkp Other Assets Noncurrent Gross
OtherAssetsNoncurrentGross
114980000 USD
CY2016Q3 wlkp Other Assets Noncurrent Gross
OtherAssetsNoncurrentGross
168243000 USD
CY2015Q4 wlkp Total Deferred Chargesand Other Assets Non Current Net
TotalDeferredChargesandOtherAssetsNonCurrentNet
38779000 USD
CY2016Q3 wlkp Total Deferred Chargesand Other Assets Non Current Net
TotalDeferredChargesandOtherAssetsNonCurrentNet
100688000 USD
CY2015Q4 wlkp Total Deferred Chargesand Other Assets Noncurrent Gross
TotalDeferredChargesandOtherAssetsNoncurrentGross
109166000 USD
CY2016Q3 wlkp Total Deferred Chargesand Other Assets Noncurrent Gross
TotalDeferredChargesandOtherAssetsNoncurrentGross
162429000 USD
CY2015Q4 wlkp Turnaround Costs Gross
TurnaroundCostsGross
100020000 USD
CY2016Q3 wlkp Turnaround Costs Gross
TurnaroundCostsGross
153767000 USD
CY2015Q4 wlkp Turnaround Costs Net
TurnaroundCostsNet
32253000 USD
CY2016Q3 wlkp Turnaround Costs Net
TurnaroundCostsNet
95052000 USD

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exhibit311_20160930.htm Edgar Link pending
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