2021 Q3 Form 10-Q Financial Statement

#000160466521000043 Filed on August 04, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2021 Q2 2020 Q4
Revenue $294.0M $322.2M $245.7M
YoY Change 26.73% 35.11% -9.95%
Cost Of Revenue $218.0M $191.2M $160.7M
YoY Change 65.71% 28.78% -5.02%
Gross Profit $75.93M $131.0M $84.91M
YoY Change -24.37% 45.54% -18.03%
Gross Profit Margin 25.83% 40.66% 34.57%
Selling, General & Admin $7.792M $8.269M $7.300M
YoY Change 24.57% 34.7% -6.41%
% of Gross Profit 10.26% 6.31% 8.6%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $23.01M $22.98M $25.40M
YoY Change 0.42% 1.18% -5.58%
% of Gross Profit 30.31% 17.54% 29.91%
Operating Expenses $7.792M $8.269M $7.300M
YoY Change 24.57% 34.7% -6.41%
Operating Profit $68.14M $122.8M $77.61M
YoY Change -27.62% 46.33% -18.95%
Interest Expense -$2.190M -$2.224M -$2.300M
YoY Change -4.78% -34.59% -45.24%
% of Operating Profit -3.21% -1.81% -2.96%
Other Income/Expense, Net $24.00K $21.00K $0.00
YoY Change 41.18% -82.93% -100.0%
Pretax Income $65.97M $120.6M $75.30M
YoY Change -28.16% 49.61% -18.24%
Income Tax -$105.0K $263.0K $200.0K
% Of Pretax Income -0.16% 0.22% 0.27%
Net Earnings $12.79M $25.10M $15.03M
YoY Change -31.0% 68.9% -13.51%
Net Earnings / Revenue 4.35% 7.79% 6.12%
Basic Earnings Per Share
Diluted Earnings Per Share $363.2K $713.0K $426.1K
COMMON SHARES
Basic Shares Outstanding 35.20M shares 35.20M shares 35.19M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q3 2021 Q2 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $18.65M $17.67M $17.20M
YoY Change -19.97% -25.15% -13.57%
Cash & Equivalents $18.65M $17.67M $17.15M
Short-Term Investments
Other Short-Term Assets $566.0K $61.00K $400.0K
YoY Change -5.67% -39.0% -20.0%
Inventory $6.590M $4.929M $3.474M
Prepaid Expenses
Receivables $12.17M $24.96M $11.03M
Other Receivables $0.00 $36.00K $0.00
Total Short-Term Assets $291.2M $336.8M $263.3M
YoY Change 4.7% 36.94% 10.44%
LONG-TERM ASSETS
Property, Plant & Equipment $1.022B $1.030B $1.051B
YoY Change -3.64% -4.41% -4.74%
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 $41.32M $29.11M $36.70M
YoY Change 10.2% -26.86% -20.56%
Total Long-Term Assets $1.069B $1.065B $1.093B
YoY Change -3.15% -5.18% -5.36%
TOTAL ASSETS
Total Short-Term Assets $291.2M $336.8M $263.3M
Total Long-Term Assets $1.069B $1.065B $1.093B
Total Assets $1.361B $1.402B $1.356B
YoY Change -1.57% 2.39% -2.65%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $16.77M $12.44M $13.13M
YoY Change 146.08% 40.57% 113.83%
Accrued Expenses $24.53M $16.08M $18.77M
YoY Change 44.66% -4.3% 7.2%
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 $54.56M $48.65M $39.75M
YoY Change 30.86% 56.48% 2.33%
LONG-TERM LIABILITIES
Long-Term Debt $399.7M $399.7M $399.7M
YoY Change -0.01% -0.01% 0.0%
Other Long-Term Liabilities $0.00 $36.00K $381.0K
YoY Change -100.0% -95.14% -66.84%
Total Long-Term Liabilities $0.00 $36.00K $381.0K
YoY Change -100.0% -95.14% -66.84%
TOTAL LIABILITIES
Total Short-Term Liabilities $54.56M $48.65M $39.75M
Total Long-Term Liabilities $0.00 $36.00K $381.0K
Total Liabilities $455.7M $450.0M $441.4M
YoY Change 2.77% 3.88% 0.01%
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 $281.1M $284.6M $277.4M
YoY Change
Total Liabilities & Shareholders Equity $1.361B $1.402B $1.356B
YoY Change -1.57% 2.39% -2.65%

Cashflow Statement

Concept 2021 Q3 2021 Q2 2020 Q4
OPERATING ACTIVITIES
Net Income $12.79M $25.10M $15.03M
YoY Change -31.0% 68.9% -13.51%
Depreciation, Depletion And Amortization $23.01M $22.98M $25.40M
YoY Change 0.42% 1.18% -5.58%
Cash From Operating Activities $99.46M $131.7M $32.50M
YoY Change -15.14% 16.87% -71.89%
INVESTING ACTIVITIES
Capital Expenditures -$11.20M -$14.59M -$7.800M
YoY Change 30.24% 69.64% -43.07%
Acquisitions
YoY Change
Other Investing Activities $26.00M -$34.97M $68.00M
YoY Change -230.0% 249.74% 3300.0%
Cash From Investing Activities $14.80M -$49.56M $60.20M
YoY Change -151.74% 166.47% -614.53%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -113.3M -81.74M -98.90M
YoY Change 27.42% -13.59% -3.61%
NET CHANGE
Cash From Operating Activities 99.46M 131.7M 32.50M
Cash From Investing Activities 14.80M -49.56M 60.20M
Cash From Financing Activities -113.3M -81.74M -98.90M
Net Change In Cash 982.0K 411.0K -6.200M
YoY Change -427.33% -182.2% -576.92%
FREE CASH FLOW
Cash From Operating Activities $99.46M $131.7M $32.50M
Capital Expenditures -$11.20M -$14.59M -$7.800M
Free Cash Flow $110.7M $146.3M $40.30M
YoY Change -12.03% 20.62% -68.83%

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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
511000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
3695000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
17154000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
19923000 USD
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
17665000 USD
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
23618000 USD
CY2021Q2 us-gaap Accounts Receivable Gross Current
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25908000 USD
CY2020Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
11344000 USD
CY2021Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
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982000 USD
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
315000 USD
CY2021Q2 wlkp Trade Customer Receivable Net Current
TradeCustomerReceivableNetCurrent
24926000 USD
CY2020Q4 wlkp Trade Customer Receivable Net Current
TradeCustomerReceivableNetCurrent
11029000 USD
CY2021Q2 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
36000 USD
CY2020Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
0 USD
CY2021Q2 us-gaap Receivables Net Current
ReceivablesNetCurrent
24962000 USD
CY2020Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
11029000 USD
CY2021Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
4566000 USD
CY2020Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
3157000 USD
CY2021Q2 us-gaap Inventory Work In Process And Raw Materials
InventoryWorkInProcessAndRawMaterials
363000 USD
CY2020Q4 us-gaap Inventory Work In Process And Raw Materials
InventoryWorkInProcessAndRawMaterials
317000 USD
CY2021Q2 us-gaap Inventory Net
InventoryNet
4929000 USD
CY2020Q4 us-gaap Inventory Net
InventoryNet
3474000 USD
CY2021Q2 us-gaap Depreciation
Depreciation
22983000 USD
CY2020Q2 us-gaap Depreciation
Depreciation
22714000 USD
us-gaap Depreciation
Depreciation
45785000 USD
us-gaap Depreciation
Depreciation
45467000 USD
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
25099000 USD
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
14860000 USD
us-gaap Net Income Loss
NetIncomeLoss
40245000 USD
us-gaap Net Income Loss
NetIncomeLoss
32607000 USD
CY2021Q2 us-gaap Undistributed Earnings
UndistributedEarnings
8504000 USD
CY2020Q2 us-gaap Undistributed Earnings
UndistributedEarnings
-1730000 USD
us-gaap Undistributed Earnings
UndistributedEarnings
7057000 USD
us-gaap Undistributed Earnings
UndistributedEarnings
-574000 USD
CY2021Q2 us-gaap Distributed Earnings
DistributedEarnings
16595000 USD
CY2021Q2 us-gaap Undistributed Earnings
UndistributedEarnings
8504000 USD
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
25099000 USD
CY2021Q2 us-gaap Weighted Average Number Of Limited Partnership And General Partnership Unit Outstanding Basic And Diluted
WeightedAverageNumberOfLimitedPartnershipAndGeneralPartnershipUnitOutstandingBasicAndDiluted
35201887 shares
CY2020Q2 us-gaap Distributed Earnings
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16590000 USD
CY2020Q2 us-gaap Undistributed Earnings
UndistributedEarnings
-1730000 USD
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
14860000 USD
CY2020Q2 us-gaap Weighted Average Number Of Limited Partnership And General Partnership Unit Outstanding Basic And Diluted
WeightedAverageNumberOfLimitedPartnershipAndGeneralPartnershipUnitOutstandingBasicAndDiluted
35194545 shares
wlkp Ima Partnership Earned Amount Added To Market Rate Basis Points
IMAPartnershipEarnedAmountAddedToMarketRateBasisPoints
five
CY2020 wlkp Buyer Deficiency Fee
BuyerDeficiencyFee
69555000 USD
CY2021Q2 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
240956000 USD
CY2020Q2 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
227431000 USD
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
460759000 USD
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
442259000 USD
CY2021Q2 wlkp Buyer Deficiency Fee And Shortfall
BuyerDeficiencyFeeAndShortfall
8742000 USD
wlkp Buyer Deficiency Fee And Shortfall
BuyerDeficiencyFeeAndShortfall
18420000 USD
us-gaap Distributed Earnings
DistributedEarnings
33188000 USD
us-gaap Undistributed Earnings
UndistributedEarnings
7057000 USD
us-gaap Net Income Loss
NetIncomeLoss
40245000 USD
us-gaap Weighted Average Number Of Limited Partnership And General Partnership Unit Outstanding Basic And Diluted
WeightedAverageNumberOfLimitedPartnershipAndGeneralPartnershipUnitOutstandingBasicAndDiluted
35200403 shares
us-gaap Distributed Earnings
DistributedEarnings
33181000 USD
us-gaap Undistributed Earnings
UndistributedEarnings
-574000 USD
us-gaap Net Income Loss
NetIncomeLoss
32607000 USD
us-gaap Weighted Average Number Of Limited Partnership And General Partnership Unit Outstanding Basic And Diluted
WeightedAverageNumberOfLimitedPartnershipAndGeneralPartnershipUnitOutstandingBasicAndDiluted
35194545 shares
CY2021Q2 us-gaap Distribution Made To Limited Partner Distributions Paid Per Unit
DistributionMadeToLimitedPartnerDistributionsPaidPerUnit
0.4714
CY2020Q2 us-gaap Distribution Made To Limited Partner Distributions Paid Per Unit
DistributionMadeToLimitedPartnerDistributionsPaidPerUnit
0.4714
us-gaap Distribution Made To Limited Partner Distributions Paid Per Unit
DistributionMadeToLimitedPartnerDistributionsPaidPerUnit
0.9428
us-gaap Distribution Made To Limited Partner Distributions Paid Per Unit
DistributionMadeToLimitedPartnerDistributionsPaidPerUnit
0.9428
CY2018Q4 wlkp Partners Units Maximum Aggregate Offering Amount Atm
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50000 USD
CY2020Q4 wlkp Accrued Capital Expenditures Current
AccruedCapitalExpendituresCurrent
2286000 USD
CY2021Q2 us-gaap Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
20134000 USD
CY2020Q4 us-gaap Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
7855000 USD
wlkp Siteleaseagreementnumber
Siteleaseagreementnumber
2
wlkp Siteleaseagreementsterminyears
Siteleaseagreementsterminyears
50
CY2021Q2 us-gaap Due To Related Parties Noncurrent
DueToRelatedPartiesNoncurrent
399674000 USD
CY2021Q2 wlkp Receivablesunder Investment Management Agreementswith Related Parties Current
ReceivablesunderInvestmentManagementAgreementswithRelatedPartiesCurrent
222249000 USD
CY2020Q4 wlkp Receivablesunder Investment Management Agreementswith Related Parties Current
ReceivablesunderInvestmentManagementAgreementswithRelatedPartiesCurrent
123228000 USD
CY2021Q2 us-gaap Accounts Receivable Related Parties Current
AccountsReceivableRelatedPartiesCurrent
66948000 USD
CY2020Q4 us-gaap Due To Related Parties Noncurrent
DueToRelatedPartiesNoncurrent
399674000 USD
CY2021Q2 us-gaap Due To Related Parties Noncurrent
DueToRelatedPartiesNoncurrent
399674000 USD
CY2020Q4 us-gaap Due To Related Parties Noncurrent
DueToRelatedPartiesNoncurrent
399674000 USD
CY2021Q2 us-gaap Longterm Debt Weighted Average Interest Rate
LongtermDebtWeightedAverageInterestRate
0.022
CY2020Q4 us-gaap Longterm Debt Weighted Average Interest Rate
LongtermDebtWeightedAverageInterestRate
0.022
CY2021Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
16084000 USD
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
18768000 USD
CY2021Q2 us-gaap Accrued Income Taxes
AccruedIncomeTaxes
3925000 USD
CY2021Q2 wlkp Accrued Maintenance Costs Current
AccruedMaintenanceCostsCurrent
3025000 USD
CY2021Q2 wlkp Accrued Capital Expenditures Current
AccruedCapitalExpendituresCurrent
2823000 USD
CY2020Q4 us-gaap Accrued Income Taxes
AccruedIncomeTaxes
6207000 USD
CY2020Q4 wlkp Accrued Maintenance Costs Current
AccruedMaintenanceCostsCurrent
3905000 USD
wlkp Increase Decreasein Capital Expenditure Accrual
IncreaseDecreaseinCapitalExpenditureAccrual
669000 USD
wlkp Increase Decreasein Capital Expenditure Accrual
IncreaseDecreaseinCapitalExpenditureAccrual
182000 USD

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