| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities | ||||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | ||||||||||
462,000 | 1,034,000 | 1,339,000 | 420,000 | 665,000 | 685,016 | 610,425 | 385,555 | 258,966 | 221,393 | 52,995 |
Adjustments to reconcile net income to net cash provided by operating activities | ||||||||||
Depreciation and amortization | ||||||||||
713,000 | 641,000 | 601,000 | 378,000 | 246,000 | 208,486 | 157,808 | 144,541 | 131,397 | 128,732 | 123,199 |
Provision for doubtful accounts | ||||||||||
- | - | - | - | - | 301 | 5,514 | 229 | 1,321 | 917 | 1,970 |
Amortization of debt issuance costs | ||||||||||
- | - | - | - | - | 1,673 | 1,459 | 1,514 | 1,683 | 2,154 | 1,461 |
Stock-based compensation expense | ||||||||||
25,000 | 22,000 | 23,000 | 14,000 | 10,000 | 9,261 | 6,966 | 6,127 | 6,391 | 6,164 | 5,638 |
Gain realized on previously held shares of Axiall common stock and from sales of securities | ||||||||||
- | - | - | 54,000 | 4,000 | 1,212 | -19 | 16,429 | 0 | 0 | - |
Impairment of long-lived assets | ||||||||||
- | - | - | - | - | - | - | - | 1,975 | 0 | - |
Write-off of debt issuance costs | ||||||||||
- | - | - | - | - | - | - | 1,277 | 0 | 0 | - |
Gain on acquisition, net of loss on the fair value remeasurement of preexisting equity interest | ||||||||||
- | - | - | - | 21,000 | 0 | 0 | - | - | - | - |
Loss from disposition and write-off of property, plant and equipment | ||||||||||
-49,000 | -44,000 | -22,000 | -9,000 | -11,000 | -4,181 | -5,039 | -3,886 | -1,375 | -581 | -2,711 |
Impairment of equity method investments | ||||||||||
- | - | - | - | - | 6,747 | 0 | 0 | - | - | - |
Gain on involuntary conversion of assets | ||||||||||
- | - | - | - | - | - | - | - | - | - | 455 |
Deferred income taxes | ||||||||||
54,000 | 62,000 | -534,000 | 101,000 | 40,000 | 58,967 | 93,732 | -5,793 | 14,114 | 14,153 | 31,207 |
Windfall tax benefits from share-based payment arrangements | ||||||||||
- | - | - | - | - | 6,704 | 5,449 | 11,967 | 3,361 | - | - |
Dividends in excess of income from equity method investments | ||||||||||
- | - | - | - | - | 424 | -199 | -3,005 | 427 | 2,212 | 3,818 |
Other losses (gains), net | ||||||||||
1,000 | -20,000 | -3,000 | 5,000 | 6,000 | 1,487 | 372 | 0 | 0 | - | - |
Changes in operating assets and liabilities, net of effect of business acquisitions | ||||||||||
Accounts receivable | ||||||||||
-59,000 | 58,000 | 40,000 | -50,000 | -63,000 | -33,161 | 14,830 | -6,450 | 45,766 | 33,478 | -5,667 |
Inventories | ||||||||||
-112,000 | 123,000 | 32,000 | 62,000 | -99,000 | -51,087 | 46,633 | -91,479 | 40,749 | 80,611 | 41,450 |
Prepaid expenses and other current assets | ||||||||||
1,000 | 1,000 | -26,000 | -11,000 | 4,000 | -7,461 | 475 | 2,205 | -2,987 | 7,217 | 236 |
Accounts payable | ||||||||||
-89,000 | -100,000 | 86,000 | 12,000 | -22,000 | -97,237 | 13,820 | -12,725 | 20,311 | 25,644 | 67,044 |
Accrued and other liabilities | ||||||||||
-13,000 | -8,000 | 115,000 | 48,000 | -8,000 | 74,989 | -15,147 | 32,381 | 18,785 | 9,910 | 8,308 |
Other, net | ||||||||||
71,000 | 84,000 | 75,000 | 65,000 | 2,000 | 4,864 | 60,090 | 15,238 | 10,067 | 2,846 | 18,719 |
Net cash provided by operating activities | ||||||||||
1,301,000 | 1,409,000 | 1,528,000 | 867,000 | 1,079,000 | 1,032,376 | 752,729 | 612,087 | 358,935 | 283,284 | 235,522 |
Cash flows from investing activities | ||||||||||
Acquisition of businesses, net of cash acquired | ||||||||||
314,000 | 0 | 13,000 | 2,438,000 | -16,000 | 611,087 | 178,309 | 0 | 0 | - | 6,297 |
Additions to equity investments | ||||||||||
- | - | - | - | - | - | 23,338 | 0 | 0 | 10,177 | - |
Payments to Acquire Property, Plant, and Equipment | ||||||||||
787,000 | 702,000 | 577,000 | 629,000 | 491,000 | 431,104 | 679,222 | 386,882 | 176,843 | 81,269 | 99,769 |
Additions to investments in unconsolidated subsidiaries | ||||||||||
862,000 | 68,000 | 66,000 | 17,000 | 0 | 0 | - | - | - | - | - |
Construction of assets pending sale-leaseback | ||||||||||
- | - | - | - | - | - | 136 | 4,308 | 0 | 0 | - |
Proceeds from disposition of assets | ||||||||||
- | - | - | - | - | 181 | 151 | 471 | 2,880 | 914 | 3,255 |
Proceeds from disposition of equity method investment | ||||||||||
- | - | - | - | 28,000 | 0 | 0 | - | - | - | - |
Proceeds from insurance for involuntary conversion of assets | ||||||||||
- | - | - | - | - | - | - | - | - | - | 484 |
Proceeds from repayment of loan acquired | ||||||||||
- | - | - | - | - | 45,923 | 167 | 1,192 | 1,192 | 763 | - |
Proceeds from sale-leaseback of assets | ||||||||||
- | - | - | - | - | - | - | 2,304 | 0 | 0 | - |
Proceeds from sales and maturities of securities | ||||||||||
- | - | - | 663,000 | 49,000 | 342,045 | 252,519 | 47,655 | 0 | 0 | - |
Purchase of securities | ||||||||||
- | - | - | 138,000 | 605,000 | 117,332 | 367,150 | 127,834 | 30,265 | 0 | - |
Other, net | ||||||||||
-9,000 | -16,000 | -4,000 | 4,000 | 3,000 | - | - | - | - | - | - |
Settlements of derivative instruments | ||||||||||
- | - | - | - | - | 1,831 | 6,920 | -431 | -251 | -9,494 | 859 |
Net cash used for investing activities | ||||||||||
-1,954,000 | -754,000 | -652,000 | -2,563,000 | -1,006,000 | -773,205 | -1,002,238 | -466,971 | -202,785 | -80,275 | -103,186 |
Cash flows from financing activities | ||||||||||
Debt issuance costs | ||||||||||
- | - | - | 36,000 | 0 | 1,186 | 0 | 2,221 | 2,697 | 3,331 | 2,203 |
Dividends paid | ||||||||||
132,000 | 120,000 | 103,000 | 97,000 | 92,000 | 77,656 | 55,236 | 285,521 | 18,265 | 16,014 | 14,510 |
Distributions to noncontrolling interests | ||||||||||
50,000 | 45,000 | 28,000 | 17,000 | 15,000 | 2,204 | 0 | 0 | - | - | - |
Net proceeds from issuance of Westlake Chemical Partners LP common units | ||||||||||
63,000 | 0 | 111,000 | 0 | 0 | 286,088 | 0 | 0 | - | - | - |
Proceeds from Issuance of Debt | ||||||||||
784,000 | 0 | 0 | - | - | - | - | - | - | - | - |
Proceeds from notes payable | ||||||||||
- | - | - | - | - | 0 | 0 | - | - | - | - |
Proceeds from drawdown of revolver | ||||||||||
20,000 | 14,000 | 978,000 | 2,037,000 | 53,000 | 0 | - | - | - | - | - |
Proceeds from senior notes issuance | ||||||||||
- | - | - | - | 0 | 0 | - | 248,818 | 0 | 0 | - |
Repayment of term loan | ||||||||||
0 | 0 | 150,000 | 0 | 0 | - | - | - | - | - | - |
Proceeds from exercise of stock options | ||||||||||
- | - | - | - | - | 5,524 | 3,437 | 10,369 | 5,344 | 3,745 | 879 |
Restricted cash associated with term loan | ||||||||||
- | - | - | - | 0 | 0 | - | - | - | - | - |
Repayment of revolver | ||||||||||
0 | 0 | 550,000 | 125,000 | 0 | 0 | - | - | - | - | - |
Repayment of notes payable | ||||||||||
18,000 | 1,179,000 | 257,000 | 13,000 | 74,000 | 0 | 0 | 250,000 | 0 | 0 | - |
Repurchase of common stock for treasury | ||||||||||
30,000 | 106,000 | 0 | 67,000 | 163,000 | 52,630 | 32,918 | 10,784 | 2,518 | 0 | 0 |
Other | ||||||||||
-7,000 | 9,000 | 5,000 | 5,000 | 4,000 | - | - | - | - | - | - |
Utilization of restricted cash | ||||||||||
- | - | - | - | - | - | - | 96,433 | 54,227 | 197,298 | 38,851 |
Windfall tax benefits from share-based payment arrangements | ||||||||||
- | - | - | - | - | 6,704 | 5,449 | 11,967 | 3,361 | - | - |
Net cash provided by financing activities | ||||||||||
630,000 | -1,427,000 | 6,000 | 1,687,000 | -287,000 | 164,640 | -79,268 | -180,939 | 39,452 | 181,698 | 23,017 |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | ||||||||||
-2,000 | -7,000 | 26,000 | -8,000 | -4,000 | -4,511 | 0 | 0 | - | - | - |
Net increase (decrease) in cash, cash equivalents and restricted cash | ||||||||||
-25,000 | -779,000 | 908,000 | -17,000 | -218,000 | 419,300 | -328,777 | -35,823 | 195,602 | 384,707 | 155,353 |
Interest paid (net of interest capitalized) | ||||||||||
- | - | - | - | - | - | - | - | - | - | 33,394 |
Income taxes paid (refunded) | ||||||||||
- | - | - | - | - | - | - | - | - | - | -40,741 |