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GuruFocus has detected 4 Warning Signs with Westlake Chemical Corp $WLK.
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Westlake Chemical Corp (NYSE:WLK)
Cash Flow from Financing
$1,533 Mil (TTM As of Dec. 2016)

Cash from financing is the cash generated/spent from financial activities such as share issuance (buy back), debt issuance (repayment), and dividends paid to preferred and common stockholders.

For the three months ended in Dec. 2016, Westlake Chemical Corp paid $0 Mil more to buy back shares than it received from issuing new shares. It received $125 Mil from issuing more debt. It paid $0 Mil more to buy back preferred shares than it received from issuing preferred shares. It spent $25 Mil paying cash dividends to shareholders. It spent $128 Mil on other financial activities. In all, Westlake Chemical Corp spent $27 Mil on financial activities for the three months ended in Dec. 2016.


Definition

This is the cash generated/spent from financial activities such as share issuance (buy back), debt issuance (repayment), and dividends paid to preferred and common stockholders. In the calculation of free cash flow, cash from financing is not calculated because it is not related to operating activities.

Westlake Chemical Corp's Cash from Financing for the fiscal year that ended in Dec. 2016 is calculated as:

Cash from Financing(A: Dec. 2016 )
=Net Issuance of Stock+Net Issuance of Debt+Net Issuance of Preferred+Dividends+Other Financing
=-67.406+2023.79+0+-96.56+-326.607
=1,533

Westlake Chemical Corp's Cash from Financing for the quarter that ended in Dec. 2016 is

Cash from Financing(Q: Dec. 2016 )
=Net Issuance of Stock+Net Issuance of Debt+Net Issuance of Preferred+Dividends+Other Financing
=0+125.283+0+-24.627+-127.94
=-27

Westlake Chemical Corp Cash Flow from Financing for the trailing twelve months (TTM) ended in Dec. 2016 was -33.121 (Mar. 2016 ) + -103.368 (Jun. 2016 ) + 1696.99 (Sep. 2016 ) + -27.284 (Dec. 2016 ) = $1,533 Mil.

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.


Explanation

Cash from financing contains five items:

1. Net Issuance of Stock:
A company may raise cash from issuing new shares. It can also use cash to buy back shares. If this number is positive, it means that the company has received more cash from issuing shares than it has paid to buy back shares. If this number is negative, it means that company has paid more cash to buy back shares than it has received for issuing shares.

Westlake Chemical Corp's net issuance of stock for the three months ended in Dec. 2016 was $0 Mil. Westlake Chemical Corp paid $0 Mil more to buy back shares than it received from issuing new shares.

2. Net Issuance of Debt:
Net issuance of debt is the cash a company received or spent through debt related activities such as debt issuance or debt repayment. If a company pays down its debt during the period, this number will be negative. If a company issued more debt, it receives cash and this number is positive.

Westlake Chemical Corp's net issuance of debt for the three months ended in Dec. 2016 was $125 Mil. Westlake Chemical Corp received $125 Mil from issuing more debt.

3. Net Issuance of Preferred:
A company may raise cash from issuing new preferred shares. It can also use cash to buy back preferred shares. If this number is positive, it means that the company has received more cash from issuing preferred shares than it has paid to buy back preferred shares. If this number is negative, it means that company has paid more cash to buy back preferred shares than it has received for issuing preferred shares.

Westlake Chemical Corp's net issuance of preferred for the three months ended in Dec. 2016 was $0 Mil. Westlake Chemical Corp paid $0 Mil more to buy back preferred shares than it received from issuing preferred shares.

4. Dividends:
Cash flow for dividends refers to the payment of cash to shareholders as dividends when the company generates income.

Westlake Chemical Corp's cash flow for dividends for the three months ended in Dec. 2016 was $-25 Mil. Westlake Chemical Corp spent $25 Mil paying cash dividends to shareholders.

5. Other Financing:
Money spent or earned by company from other financial activities.

Westlake Chemical Corp's other financing for the three months ended in Dec. 2016 was $-128 Mil. Westlake Chemical Corp spent $128 Mil on other financial activities.


Related Terms

Cash Flow from Operations, Cash Flow from Investing, Net Issuance of Stock, Net Issuance of Debt, Dividends, Net Issuance of Preferred


Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

Westlake Chemical Corp Annual Data

Dec07Dec08Dec09Dec10Dec11Dec12Dec13Dec14Dec15Dec16
Net Issuance of Stock 0000-3-11-33233-162-67
Net Issuance of Debt 1-1000-100-212,024
Net Issuance of Preferred 0000000000
Dividends -12-13-15-16-18-286-55-78-92-97
Other Financing 4566381986011799-12-327
Cash from Financing 35512318239-181-79165-2871,533

Westlake Chemical Corp Quarterly Data

Sep14Dec14Mar15Jun15Sep15Dec15Mar16Jun16Sep16Dec16
Net Issuance of Stock 00-2-61-51-48-1-67-00
Net Issuance of Debt 000-2-12-7-501,903125
Net Issuance of Preferred 0000000000
Dividends -22-22-22-22-24-24-24-24-25-25
Other Financing 279-45-2-3-3-5-4-13-182-128
Cash from Financing 257-67-26-87-90-84-33-1031,697-27
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