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Annual Income Statement
(In Millions of U.S. Dollars except for per share items)
Period Ended 12/31/09 12/31/08 12/31/07 12/31/06 12/31/05
Revenue 2,325.72 3,692.35 3,192.18 2,484.37 2,441.11
Other, Net 1.25 0.29 -2.11 -0.17 0.19
Net Income Before Taxes 78.75 -58.02 158.96 282.55 345.33
Provision for Income Taxes 25.76 -28.48 44.23 87.99 118.51
Net Income After Taxes 53 -29.54 114.73 194.56 226.82
Net Income Before Extra. Items 53 -29.54 114.73 194.56 226.82
Net Income 53 -29.54 114.73 194.56 226.82
Income Available to Com Excl ExtraOrd 53 -29.54 114.73 194.56 226.82
Income Available to Com Incl ExtraOrd 53 -29.54 114.73 194.56 226.82
Basic Weighted Average Shares 65.91 65.62 65.45 65.13 65.01
Basic EPS Excluding Extraordinary Items 0.8 -0.45 1.75 2.99 3.49
Basic EPS Including Extraordinary Items 0.8 -0.45 1.75 2.99 3.49
Dilution Adjustment NA 0 0 0 0
Diluted Net Income 53 -29.54 114.73 194.56 226.82
Diluted Weighted Average Shares 66.01 65.62 65.53 65.25 65.25
Diluted EPS Excluding ExtraOrd Items 0.8 -0.45 1.75 2.98 3.48
Diluted EPS Including ExtraOrd Items 0.8 -0.45 1.75 2.98 3.48
DPS - Common Stock Primary Issue 0.22 0.21 0.18 0.14 0.1
Gross Dividends - Common Stock 14.51 13.46 11.78 8.8 6.34
Pro Forma Stock Compensation Expense NA NA NA NA 1.03
Net Income after Stock Based Comp. Exp. NA NA NA NA 225.78
Basic EPS after Stock Based Comp. Exp. NA NA NA NA 3.48
Diluted EPS after Stock Based Comp. Exp. NA NA NA NA 3.46
Stock-Based Compensation, Supplemental 5.64 4.18 2.87 1.73 NA
Interest Expense, Supplemental 34.96 33.96 18.42 16.52 23.72
Interest Capitalized, Supplemental -0.12 -3.2 -2.18 -3.59 -1.17
Depreciation, Supplemental 100.33 93.14 85.42 74.88 69.13
Non-Recurring Items, Supplemental, Total -2.5 3.9 NA NA NA
Total Special Items -2.5 3.9 0.92 25.85 0.65
Normalized Income Before Taxes 76.25 -54.12 159.88 308.4 345.97
Effect of Special Items on Income Taxes -0.82 1.37 0.26 8.05 0.22
Inc Tax Ex Impact of Sp Items 24.94 -27.11 44.48 96.04 118.73
Normalized Income After Taxes 51.31 -27.01 115.4 212.36 227.24
Normalized Inc. Avail to Com. 51.31 -27.01 115.4 212.36 227.24
Basic Normalized EPS 0.78 -0.41 1.76 3.26 3.5
Diluted Normalized EPS 0.78 -0.41 1.76 3.25 3.48
Amort of Intangibles, Supplemental 24.33 19.74 18.85 12.23 13.57
Rental Expense, Supplemental 42.89 41.77 39.43 32.46 27.69
Equity in Affiliates, Supplemental 3.82 0.62 2.8 NA NA
Audit Fees 1.6 1.71 1.63 2.28 2.06
Audit-Related Fees 0.05 0.03 0.22 0.07 0.15
Tax Fees 0.07 0.17 0.4 0.56 0.44
All Other Fees 0 0 0.01 0 0
Reported Gross Profit 195.13 69.37 271.4 396.48 443.63
Gross Margin 8.39 1.88 8.5 15.96 18.17
Operating Margin 4.61 -0.8 5.44 11.57 15.01
Pretax Margin 3.39 -1.57 4.98 11.37 14.15
Effective Tax Rate 32.71 NA 27.82 31.14 34.32
Net Profit Margin 2.28 -0.8 3.59 7.83 9.29
Normalized EBIT 104.76 -25.64 174.72 313.25 367.03
Normalized EBITDA 229.42 87.24 279 400.36 449.73
Current Tax - Total -5.45 -14.6 38.94 74.14 72.77
Deferred Tax - Total 31.21 -13.88 5.29 13.85 45.75
Income Tax - Total 25.76 -28.48 44.23 87.99 118.51
Interest Cost - Domestic 2.47 2.37 2.23 1.89 1.8
Service Cost - Domestic 0.84 0.99 1.04 1.07 1.05
Expected Return on Assets - Domestic -1.65 -2.48 -2.4 -2.2 -1.93
Other Pension, Net - Domestic 1.65 0.87 0.85 0.72 0.58
Domestic Pension Plan Expense 3.3 1.74 1.72 1.47 1.5
Interest Cost - Post-Retirement 1.07 1.1 0.58 0.51 0.41
Service Cost - Post-Retirement 0.09 0.1 0.28 0.36 0.36
Other Post-Retirement, Net 0.43 0.5 0.91 0.71 0.72
Post-Retirement Plan Expense 1.58 1.7 1.78 1.58 1.49
Defined Contribution Expense - Domestic 9.62 8.61 6.73 5.33 5.11
Total Pension Expense 14.5 12.05 10.22 8.38 8.1
Discount Rate - Domestic 6 5.8 5.8 5.8 5.5
Discount Rate - Post-Retirement 5.8 5.5 4.7 4.7 4.9
Expected Rate of Return - Domestic 7 8 8 8 8
Compensation Rate - Domestic 4 4 4 4 4
Total Plan Interest Cost 3.53 3.47 2.81 2.4 2.21
Total Plan Service Cost 0.93 1.09 1.32 1.43 1.41
Total Plan Expected Return -1.65 -2.48 -2.4 -2.2 -1.93
Total Plan Other Expense 2.07 1.37 1.76 1.42 1.3
Total Revenue 2,325.72 3,692.35 3,192.18 2,484.37 2,441.11
Cost of Revenue, Total 2,130.6 3,622.99 2,920.78 2,087.88 1,997.47
Gross Profit 195.13 69.37 271.4 396.48 443.63
Selling/General/Admin. Expenses, Total 87.87 98.91 96.68 83.23 76.6
Unusual Expense (Income) 0 0 0.92 25.85 0.65
Total Operating Expense 2,218.47 3,721.89 3,018.38 2,196.97 2,074.72
Operating Income 107.26 -29.54 173.8 287.4 366.39
Interest Inc.(Exp.),Net-Non-Op., Total -29.76 -28.78 -12.73 -4.68 -21.25