$WLKP
Westlake Chemical Partners LP

2018 Q4 Form 10-Q Financial Statement

#000160466518000027 Filed on November 06, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q4
Revenue $335.7M $363.7M $308.6M
YoY Change 8.77% 22.53% 5.0%
Cost Of Revenue $242.1M $269.7M $197.9M
YoY Change 22.33% 33.95% 5.15%
Gross Profit $93.63M $93.91M $110.7M
YoY Change -15.45% -1.57% 4.73%
Gross Profit Margin 27.89% 25.82% 35.88%
Selling, General & Admin $7.200M $5.909M $7.700M
YoY Change -6.49% -13.17% 6.94%
% of Gross Profit 7.69% 6.29% 6.95%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $26.60M $21.96M $27.50M
YoY Change -3.27% -6.65% -10.42%
% of Gross Profit 28.41% 23.38% 24.83%
Operating Expenses $7.200M $5.909M $7.800M
YoY Change -7.69% -13.17% 8.33%
Operating Profit $86.46M $88.00M $103.0M
YoY Change -16.05% -0.68% 4.47%
Interest Expense -$5.400M -$5.600M -$4.300M
YoY Change 25.58% -9.68% -17.31%
% of Operating Profit -6.25% -6.36% -4.18%
Other Income/Expense, Net $700.0K $668.0K -$100.0K
YoY Change -800.0% 312.35% -125.0%
Pretax Income $81.80M $83.03M $98.70M
YoY Change -17.12% 0.55% 5.34%
Income Tax $200.0K -$772.0K $400.0K
% Of Pretax Income 0.24% -0.93% 0.41%
Net Earnings $11.88M $12.41M $15.55M
YoY Change -23.56% -7.27% 43.27%
Net Earnings / Revenue 3.54% 3.41% 5.04%
Basic Earnings Per Share
Diluted Earnings Per Share $369.6K $385.1K $545.8K
COMMON SHARES
Basic Shares Outstanding 32.25M shares 32.24M shares 32.23M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $19.70M $17.00M $27.00M
YoY Change -27.04% -1.16% -69.63%
Cash & Equivalents $19.74M $17.04M $27.01M
Short-Term Investments
Other Short-Term Assets $400.0K $500.0K $300.0K
YoY Change 33.33% 25.0% 0.0%
Inventory $4.388M $5.004M $5.590M
Prepaid Expenses
Receivables $222.6M $240.0M $198.5M
Other Receivables $0.00 $77.00K $0.00
Total Short-Term Assets $247.1M $262.6M $231.4M
YoY Change 6.81% 20.67% -0.33%
LONG-TERM ASSETS
Property, Plant & Equipment $1.148B $1.161B $1.196B
YoY Change -4.01% -3.73% -2.13%
Goodwill $5.814M $5.814M $5.814M
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $60.90M $65.40M $81.80M
YoY Change -25.55% -30.31% -18.87%
Total Long-Term Assets $1.215B $1.232B $1.284B
YoY Change -5.37% -5.21% -2.96%
TOTAL ASSETS
Total Short-Term Assets $247.1M $262.6M $231.4M
Total Long-Term Assets $1.215B $1.232B $1.284B
Total Assets $1.462B $1.495B $1.515B
YoY Change -3.51% -1.5% -2.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.045M $6.402M $10.52M
YoY Change -52.03% -36.44% 5.9%
Accrued Expenses $16.25M $18.91M $15.70M
YoY Change 3.52% -8.75% -0.13%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $48.77M $66.59M $40.24M
YoY Change 21.2% 48.23% 6.52%
LONG-TERM LIABILITIES
Long-Term Debt $477.6M $477.6M $474.0M
YoY Change 0.76% 0.1% -20.28%
Other Long-Term Liabilities $0.00 $53.00K $107.0K
YoY Change -100.0% -32.91% -13.01%
Total Long-Term Liabilities $0.00 $53.00K $107.0K
YoY Change -100.0% -32.91% -13.01%
TOTAL LIABILITIES
Total Short-Term Liabilities $48.77M $66.59M $40.24M
Total Long-Term Liabilities $0.00 $53.00K $107.0K
Total Liabilities $528.0M $545.9M $516.5M
YoY Change 2.23% 4.13% -18.56%
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 $215.8M $217.5M $219.8M
YoY Change
Total Liabilities & Shareholders Equity $1.462B $1.495B $1.515B
YoY Change -3.51% -1.5% -2.57%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q4
OPERATING ACTIVITIES
Net Income $11.88M $12.41M $15.55M
YoY Change -23.56% -7.27% 43.27%
Depreciation, Depletion And Amortization $26.60M $21.96M $27.50M
YoY Change -3.27% -6.65% -10.42%
Cash From Operating Activities $106.2M $109.4M $135.5M
YoY Change -21.62% -21.63% 22.85%
INVESTING ACTIVITIES
Capital Expenditures -$9.900M -$13.40M -$12.30M
YoY Change -19.51% 6.35% -60.32%
Acquisitions
YoY Change
Other Investing Activities $3.000M -$8.300M -$17.20M
YoY Change -117.44% -93.03%
Cash From Investing Activities -$6.800M -$21.60M -$29.40M
YoY Change -76.87% -83.59% -5.16%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -96.60M -99.30M -96.20M
YoY Change 0.42% 3.76% 46.87%
NET CHANGE
Cash From Operating Activities 106.2M 109.4M 135.5M
Cash From Investing Activities -6.800M -21.60M -29.40M
Cash From Financing Activities -96.60M -99.30M -96.20M
Net Change In Cash 2.800M -11.50M 9.900M
YoY Change -71.72% -86.89% -28.26%
FREE CASH FLOW
Cash From Operating Activities $106.2M $109.4M $135.5M
Capital Expenditures -$9.900M -$13.40M -$12.30M
Free Cash Flow $116.1M $122.8M $147.8M
YoY Change -21.45% -19.32% 4.6%

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us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
21519000 USD
CY2018Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5909000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
20417000 USD
us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
292000 USD
CY2017Q3 us-gaap Undistributed Earnings
UndistributedEarnings
780000 USD
us-gaap Undistributed Earnings
UndistributedEarnings
485000 USD
CY2018Q3 us-gaap Undistributed Earnings
UndistributedEarnings
-1154000 USD
us-gaap Undistributed Earnings
UndistributedEarnings
-2828000 USD
CY2017Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
27172230 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
27097642 shares
CY2018Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
32242210 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
32238663 shares
CY2017Q4 wlkp Accrued Maintenance Costs Current
AccruedMaintenanceCostsCurrent
3698000 USD
CY2018Q3 wlkp Accrued Maintenance Costs Current
AccruedMaintenanceCostsCurrent
5323000 USD
wlkp Cash Providedby Usedin Investing Activities Other
CashProvidedbyUsedinInvestingActivitiesOther
1801000 USD
wlkp Cash Providedby Usedin Investing Activities Other
CashProvidedbyUsedinInvestingActivitiesOther
0 USD
wlkp Conversionof Units Amount
ConversionofUnitsAmount
0 USD
wlkp Increase Decrease In Prepaid Expenses And Other Current Assets
IncreaseDecreaseInPrepaidExpensesAndOtherCurrentAssets
144000 USD
wlkp Increase Decrease In Prepaid Expenses And Other Current Assets
IncreaseDecreaseInPrepaidExpensesAndOtherCurrentAssets
177000 USD
wlkp Increase Decreasein Capital Expenditure Accrual
IncreaseDecreaseinCapitalExpenditureAccrual
894000 USD
wlkp Increase Decreasein Capital Expenditure Accrual
IncreaseDecreaseinCapitalExpenditureAccrual
1380000 USD
wlkp Investmentswith Westlakeunderthe Investment Management Agreement
InvestmentswithWestlakeundertheInvestmentManagementAgreement
119000000 USD
wlkp Investmentswith Westlakeunderthe Investment Management Agreement
InvestmentswithWestlakeundertheInvestmentManagementAgreement
285000000 USD
wlkp Maturitiesofinvestmentswith Westlakeunderthe Investment Management Agreement
MaturitiesofinvestmentswithWestlakeundertheInvestmentManagementAgreement
0 USD
wlkp Maturitiesofinvestmentswith Westlakeunderthe Investment Management Agreement
MaturitiesofinvestmentswithWestlakeundertheInvestmentManagementAgreement
270050000 USD
CY2017Q4 wlkp Receivablesunder Investment Management Agreementswith Related Parties Current
ReceivablesunderInvestmentManagementAgreementswithRelatedPartiesCurrent
136510000 USD
CY2018Q3 wlkp Receivablesunder Investment Management Agreementswith Related Parties Current
ReceivablesunderInvestmentManagementAgreementswithRelatedPartiesCurrent
151875000 USD
CY2018Q3 wlkp Reimbursedincometaxpayments
Reimbursedincometaxpayments
418 USD
CY2017Q4 wlkp Trade Customer Receivable Net Current
TradeCustomerReceivableNetCurrent
18083000 USD
CY2018Q3 wlkp Trade Customer Receivable Net Current
TradeCustomerReceivableNetCurrent
22467000 USD
CY2017Q3 wlkp Underwriting Discounts Structuring Feesand Offering Expenseson Issuanceof Equity
UnderwritingDiscountsStructuringFeesandOfferingExpensesonIssuanceofEquity
3111000 USD

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0001604665-18-000027.txt Edgar Link pending
0001604665-18-000027-xbrl.zip Edgar Link pending
a2018093010qwlkp.htm Edgar Link pending
exhibit101_20180930.htm Edgar Link pending
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