Westlake Chemical Partners LP (WLKP) Financial Statements (2024 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)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments64,78217,05717,15419,92319,74427,008
Cash and cash equivalents64,78217,05717,15419,92319,74427,008
Receivables20,0305,82511,0299,91416,40418,083
Inventory, net of allowances, customer advances and progress billings4,7158,8983,4742,4844,3885,590
Inventory4,7158,8983,4742,4844,3885,590
Derivative instruments and hedges, assets    597  
Other undisclosed current assets156,266249,430231,648205,493206,606180,708
Total current assets:245,793281,210263,305238,411247,142231,389
Noncurrent Assets
Property, plant and equipment990,2131,043,5391,050,6771,102,9951,148,2651,196,245
Intangible assets, net (including goodwill)5,8145,8145,8145,8145,8145,814
Goodwill5,8145,8145,8145,8145,8145,814
Other undisclosed noncurrent assets130,159150,13536,69246,23660,90481,828
Total noncurrent assets:1,126,1861,199,4881,093,1831,155,0451,214,9831,283,887
TOTAL ASSETS:1,371,9791,480,6981,356,4881,393,4561,462,1251,515,276
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities32,85496,00031,89923,64821,29526,213
Accounts payable 15,31735,10513,1316,1415,04510,516
Accrued liabilities17,53760,89518,76817,50716,25015,697
Due to related parties34,08710,7967,85515,20127,47714,027
Other undisclosed current liabilities      
Total current liabilities:66,941106,79639,75438,84948,77240,240
Noncurrent Liabilities
Liabilities, other than long-term debt401,330401,204401,597400,823479,272476,287
Deferred tax liabilities, net1,6642,220
Deferred income tax liabilities1,6561,5301,542 
Due to related parties399,674399,674399,674399,674477,608473,960
Other liabilities  3811,149 107
Other undisclosed noncurrent liabilities   1,649  
Total noncurrent liabilities:401,330401,204401,597402,472479,272476,287
Total liabilities:468,271508,000441,351441,321528,044516,527
Equity
Equity, attributable to parent      279
Accumulated other comprehensive income      279
Equity, attributable to noncontrolling interest611,778678,720637,738674,621718,271778,935
Other undisclosed equity291,930293,978277,399277,514215,810219,535
Total equity:903,708972,698915,137952,135934,081998,749
TOTAL LIABILITIES AND EQUITY:1,371,9791,480,6981,356,4881,393,4561,462,1251,515,276

Income Statement (P&L) ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues1,593,1471,214,858966,6701,091,8711,285,6221,172,981
Revenue, net1,172,981
Revenue from related parties1,342,9101,026,586888,245937,6251,074,957
Cost of revenue
(Cost of Goods and Services Sold)
(1,215,782)(773,152)(587,787)(712,443)(908,463)(769,314)
Gross profit:377,365441,706378,883379,428377,159403,667
Operating expenses(29,678)(31,018)(25,895)(29,278)(27,590)(29,260)
Operating income:347,687410,688352,988350,150349,569374,407
Nonoperating income1,566627333,0962,4571,792
Interest and debt expense (13,407)(8,816)(12,038)(19,623)(21,433)(21,861)
Income from continuing operations before equity method investments, income taxes:335,846401,934341,683333,623330,593354,338
Other undisclosed loss from continuing operations before income taxes      
Income from continuing operations before income taxes:335,846401,934341,683333,623330,593354,338
Income tax expense(1,017)(549)(564)(728)(22)(1,280)
Income from continuing operations:334,829401,385341,119332,895330,571353,058
Income before gain (loss) on sale of properties:401,385341,119332,895330,571353,058
Net income:334,829401,385341,119332,895330,571353,058
Net loss attributable to noncontrolling interest(270,656)(318,838)(274,952)(271,914)(281,224)(304,388)
Net income available to common stockholders, diluted:64,17382,54766,16760,98149,34748,670

Comprehensive Income ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:334,829401,385341,119332,895330,571353,058
Comprehensive income:334,829401,385341,119332,895330,571353,058
Comprehensive loss, net of tax, attributable to noncontrolling interest(270,656)(318,838)(274,952)(271,914)(281,224)(304,388)
Comprehensive income, net of tax, attributable to parent:64,17382,54766,16760,98149,34748,670

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.

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