Westlake Chemical Partners LP (WLKP) Financial Statements (2025 and earlier)
Company Profile
| Business Address |
2801 POST OAK BOULEVARD HOUSTON, TX 77056 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 286 - Industrial Organic Chemicals (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 9/30/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 58,619 | 64,782 | 17,057 | 17,154 | 19,923 | 19,744 | |||
| Cash and cash equivalents | 58,619 | 64,782 | 17,057 | 17,154 | 19,923 | 19,744 | |||
| Receivables | 18,701 | 20,030 | 5,825 | 11,029 | 9,914 | 16,404 | |||
| Inventory, net of allowances, customer advances and progress billings | 4,432 | 4,715 | 8,898 | 3,474 | 2,484 | 4,388 | |||
| Inventory | 4,432 | 4,715 | 8,898 | 3,474 | 2,484 | 4,388 | |||
| Derivative instruments and hedges, assets | 597 | ||||||||
| Other undisclosed current assets | 144,451 | 156,266 | 249,430 | 231,648 | 205,493 | 206,606 | |||
| Total current assets: | 226,203 | 245,793 | 281,210 | 263,305 | 238,411 | 247,142 | |||
| Noncurrent Assets | |||||||||
| Property, plant and equipment | 943,843 | 990,213 | 1,043,539 | 1,050,677 | 1,102,995 | 1,148,265 | |||
| Intangible assets, net (including goodwill) | 5,814 | 5,814 | 5,814 | 5,814 | 5,814 | 5,814 | |||
| Goodwill | 5,814 | 5,814 | 5,814 | 5,814 | 5,814 | 5,814 | |||
| Other undisclosed noncurrent assets | 140,982 | 130,159 | 150,135 | 36,692 | 46,236 | 60,904 | |||
| Total noncurrent assets: | 1,090,639 | 1,126,186 | 1,199,488 | 1,093,183 | 1,155,045 | 1,214,983 | |||
| TOTAL ASSETS: | 1,316,842 | 1,371,979 | 1,480,698 | 1,356,488 | 1,393,456 | 1,462,125 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 24,980 | 32,854 | 96,000 | 31,899 | 23,648 | 21,295 | |||
| Accounts payable | 15,317 | 35,105 | 13,131 | 6,141 | 5,045 | ||||
| Accrued liabilities | 24,980 | 17,537 | 60,895 | 18,768 | 17,507 | 16,250 | |||
| Due to related parties | ✕ | ✕ | 34,087 | 10,796 | 7,855 | 15,201 | 27,477 | ||
| Other undisclosed current liabilities | 31,355 | ||||||||
| Total current liabilities: | 56,335 | 66,941 | 106,796 | 39,754 | 38,849 | 48,772 | |||
| Noncurrent Liabilities | |||||||||
| Liabilities, other than long-term debt | 4,583 | 401,330 | 401,204 | 401,597 | 400,823 | 479,272 | |||
| Deferred tax liabilities, net | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 1,664 | ||
| Deferred income tax liabilities | 1,632 | 1,656 | 1,530 | 1,542 | ✕ | ||||
| Due to related parties | ✕ | ✕ | 399,674 | 399,674 | 399,674 | 399,674 | 477,608 | ||
| Other liabilities | 2,951 | 381 | 1,149 | ||||||
| Other undisclosed noncurrent liabilities | 399,674 | 1,649 | |||||||
| Total noncurrent liabilities: | 404,257 | 401,330 | 401,204 | 401,597 | 402,472 | 479,272 | |||
| Total liabilities: | 460,592 | 468,271 | 508,000 | 441,351 | 441,321 | 528,044 | |||
| Equity | |||||||||
| Equity, attributable to noncontrolling interest | 576,316 | 611,778 | 678,720 | 637,738 | 674,621 | 718,271 | |||
| Other undisclosed equity | 279,934 | 291,930 | 293,978 | 277,399 | 277,514 | 215,810 | |||
| Total equity: | 856,250 | 903,708 | 972,698 | 915,137 | 952,135 | 934,081 | |||
| TOTAL LIABILITIES AND EQUITY: | 1,316,842 | 1,371,979 | 1,480,698 | 1,356,488 | 1,393,456 | 1,462,125 | |||
Income Statement (P&L) ($ in thousands)
| 9/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 1,190,791 | 1,593,147 | 1,214,858 | 966,670 | 1,091,871 | 1,285,622 | ||
| Revenue from related parties | ✕ | ✕ | 1,342,910 | 1,026,586 | 888,245 | 937,625 | 1,074,957 | |
| Cost of revenue (Cost of Goods and Services Sold) | (803,332) | (1,215,782) | (773,152) | (587,787) | (712,443) | (908,463) | ||
| Gross profit: | 387,459 | 377,365 | 441,706 | 378,883 | 379,428 | 377,159 | ||
| Operating expenses | (29,751) | (29,678) | (31,018) | (25,895) | (29,278) | (27,590) | ||
| Operating income: | 357,708 | 347,687 | 410,688 | 352,988 | 350,150 | 349,569 | ||
| Nonoperating income | 4,232 | 1,566 | 62 | 733 | 3,096 | 2,457 | ||
| Interest and debt expense | (13,407) | (8,816) | (12,038) | (19,623) | (21,433) | |||
| Income from continuing operations before equity method investments, income taxes: | 361,940 | 335,846 | 401,934 | 341,683 | 333,623 | 330,593 | ||
| Other undisclosed loss from continuing operations before income taxes | (26,501) | |||||||
| Income from continuing operations before income taxes: | 335,439 | 335,846 | 401,934 | 341,683 | 333,623 | 330,593 | ||
| Income tax expense | (813) | (1,017) | (549) | (564) | (728) | (22) | ||
| Income from continuing operations: | 334,626 | 334,829 | 401,385 | 341,119 | 332,895 | 330,571 | ||
| Income before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | 401,385 | 341,119 | 332,895 | 330,571 | |
| Net income: | 334,626 | 334,829 | 401,385 | 341,119 | 332,895 | 330,571 | ||
| Net loss attributable to noncontrolling interest | (280,343) | (270,656) | (318,838) | (274,952) | (271,914) | (281,224) | ||
| Net income available to common stockholders, diluted: | 54,283 | 64,173 | 82,547 | 66,167 | 60,981 | 49,347 | ||
Comprehensive Income ($ in thousands)
| 9/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 334,626 | 334,829 | 401,385 | 341,119 | 332,895 | 330,571 | ||
| Comprehensive income: | 334,626 | 334,829 | 401,385 | 341,119 | 332,895 | 330,571 | ||
| Comprehensive loss, net of tax, attributable to noncontrolling interest | (280,343) | (270,656) | (318,838) | (274,952) | (271,914) | (281,224) | ||
| Comprehensive income, net of tax, attributable to parent: | 54,283 | 64,173 | 82,547 | 66,167 | 60,981 | 49,347 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.