$WLK

WESTLAKE CHEMICAL CORP

CIK:0001262823|SEC Filings

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net sales	$ 3,271	$ 2,953	$ 5,923	$ 5,799
Cost of sales	2,619	2,695	5,159	5,309
Gross profit	652	258	764	490
Selling, general and administrative expenses	253	221	489	448
Amortization of intangibles	32	31	62	61
Restructuring, transaction and integration-related costs	3	115	21	122
Income (loss) from operations	364	(109)	192	(141)
Other income (expense)
Interest expense	(55)	(40)	(111)	(79)
Other income, net	29	24	67	61
Income (loss) before income taxes	338	(125)	148	(159)
Provision for income taxes	67	6	34	7
Net income (loss)	271	(131)	114	(166)
Net income attributable to noncontrolling interests	11	11	23	16
Net income (loss) attributable to Westlake Corporation	$ 260	$ (142)	$ 91	$ (182)
Earnings (loss) per common share attributable to Westlake Corporation:
Basic (in dollars per share)	$ 2.02	$ (1.11)	$ 0.71	$ (1.42)
Diluted (in dollars per share)	$ 2.01	$ (1.11)	$ 0.70	$ (1.42)
Weighted average common shares outstanding:
Basic (in shares)	128,039,859	128,238,514	128,016,310	128,273,332
Diluted (in shares)	128,500,530	128,238,514	128,427,525	128,273,332

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net income (loss)	$ 114	$ (166)
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Depreciation and amortization	570	578
Stock-based compensation expense	20	19
Loss from disposition and write-off of property, plant and equipment	14	16
Deferred income taxes	14	(19)
Other losses, net	13	20
Changes in operating assets and liabilities, net of effect of business acquisitions
Accounts receivable	(463)	(308)
Inventories	(64)	(15)
Prepaid expenses and other current assets	28	12
Accounts payable	123	92
Accrued and other liabilities	(71)	78
Other, net	(74)	(249)
Net cash provided by operating activities	224	58
Cash flows from investing activities
Acquisitions of businesses, net of cash acquired	(171)	0
Additions to investments in unconsolidated subsidiaries	(1)	(22)
Additions to property, plant and equipment	(416)	(515)
Proceeds from maturities and paydown of available-for-sale securities	63	0
Purchase of available-for-sale securities	(69)	(192)
Other, net	3	3
Net cash used for investing activities	(591)	(726)
Cash flows from financing activities
Distributions to noncontrolling interests	(23)	(23)
Dividends paid	(137)	(136)
Repayment of senior notes	(496)	0
Repurchase of common stock for treasury	(30)	(30)
Other, net	(18)	(8)
Net cash used for financing activities	(704)	(197)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(9)	30
Net decrease in cash, cash equivalents and restricted cash	(1,080)	(835)
Cash, cash equivalents and restricted cash at beginning of period	2,740	2,935
Cash, cash equivalents and restricted cash at end of period	$ 1,660	$ 2,100

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 1,643	$ 2,724
Available-for-sale securities	209	204
Accounts receivable, net	1,963	1,504
Inventories	1,754	1,653
Prepaid expenses and other current assets	120	131
Total current assets	5,689	6,216
Property, plant and equipment, net	8,647	8,605
Operating lease right-of-use assets	781	798
Goodwill	1,346	1,314
Customer relationships, net	741	743
Other intangible assets, net	446	439
Equity method investments	1,028	1,062
Other assets, net	761	784
Total assets	19,439	19,961
Current liabilities
Accounts payable	890	783
Accrued and other liabilities	1,429	1,490
Current portion of long-term debt, net	0	497
Total current liabilities	2,319	2,770
Long-term debt, net	5,067	5,087
Deferred income taxes	1,367	1,343
Pension and other post-retirement benefits	272	286
Operating lease liabilities	681	688
Other liabilities	525	492
Total liabilities	10,231	10,666
Commitments and contingencies (Note 14)
Stockholders' equity
Preferred stock, $0.01 par value, 50,000,000 shares authorized; no shares issued and outstanding	0	0
Common stock, $0.01 par value, 300,000,000 shares authorized; 134,651,380 and 134,651,380 shares issued at June 30, 2026 and December 31, 2025, respectively	1	1
Common stock, held in treasury, at cost; 6,854,931 and 6,740,232 shares at June 30, 2026 and December 31, 2025, respectively	(532)	(513)
Additional paid-in capital	697	683
Retained earnings	8,655	8,701
Accumulated other comprehensive loss	(116)	(80)
Total Westlake Corporation stockholders' equity	8,705	8,792
Noncontrolling interests	503	503
Total equity	9,208	9,295
Total liabilities and equity	$ 19,439	$ 19,961