Form 8-K - Current report

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (date of earliest event reported): February 20, 2024

Westlake Corporation

(Exact name of registrant as specified in its charter)

Delaware

001-32260

76-0346924

(State or other jurisdiction
of incorporation)

(Commission File Number)

(I.R.S. Employer
Identification No.)

2801 Post Oak Boulevard,

Suite 600

Houston,

Texas

77056

(Address of principal executive offices)

(Zip Code)

Registrant's telephone number, including area code: (713) 960-9111

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.01 par value	WLK	The New York Stock Exchange
1.625% Senior Notes due 2029	WLK29	The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

Item 2.02. Results of Operations and Financial Condition.

On February 20, 2024, Westlake Corporation (the "Company") issued a press release announcing its 2023 fourth quarter and full year results. A copy of the press release is furnished with this Current Report as Exhibit 99.1.

The information furnished pursuant to this Current Report, including Exhibit 99.1, shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and will not be incorporated by reference into any registration statement filed by Westlake Corporation under the Securities Act of 1933, as amended, unless specifically identified as being incorporated therein.

Item 7.01. Regulation FD Disclosure.

The Company is holding a conference call on February 20, 2024 to discuss its 2023 fourth quarter and full year results. Information about the call can be found in the press release furnished with this Current Report as Exhibit 99.1. In addition, the Company made available an investor presentation regarding its 2023 fourth quarter and full year results, which is furnished with this Current Report as Exhibit 99.2.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

The following exhibits are furnished herewith:

99.1 Press release issued on February 20, 2024.

99.2 Investor Presentation.

104 The cover page from this Current Report on Form 8-K, formatted in Inline XBRL.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

WESTLAKE CORPORATION

Date:

February 20, 2024

By:

/S/ ALBERT CHAO

Albert Chao
President and Chief Executive Officer

EXHIBIT 99.1

WESTLAKE CORPORATION

Contact—(713) 960-9111

Investors—Steve Bender

Media—L. Benjamin Ederington

Westlake Corporation Reports Fourth Quarter and Full Year 2023 Results

•Record Housing and Infrastructure Products (HIP) annual income from operations of $710 million with a 17% income from operations margin and a 23% EBITDA margin

•Generated $2.3 billion of net cash from operating activities and $1.3 billion of free cash flow in 2023

•Performance and Essential Materials (PEM) results impacted by Identified Items totaling $625 million

HOUSTON--(BUSINESS WIRE)--Westlake Corporation (NYSE: WLK) (the "Company" or "Westlake") today announced fourth quarter and full year 2023 results.

SUMMARY FINANCIAL HIGHLIGHTS ($ in millions except per share data and percentages)


	Three Months Ended						Twelve Months Ended
	December 31,		September 30,		December 31,		December 31,
	2023		2023		2022		2023		2022

Westlake Corporation
Net sales	$	2,826	$	3,115	$	3,299	$	12,548	$	15,794
Income (loss) from operations	$	(552)	$	349	$	327	$	729	$	3,050
Net income (loss) attributable to Westlake Corporation	$	(497)	$	285	$	232	$	479	$	2,247
Diluted earnings (loss) per common share	$	(3.86)	$	2.20	$	1.79	$	3.70	$	17.34
EBITDA	$	(235)	$	682	$	619	$	1,962	$	4,179

Identified Items (1)	$	625	$	—	$	—	$	625	$	—
EBITDA excl. Identified Items	$	390	$	682	$	619	$	2,587	$	4,179
EBITDA margin (2)	14%		22%		19%		21%		26%

Performance and Essential Materials ("PEM") Segment
Net sales	$	1,880	$	1,971	$	2,361	$	8,336	$	11,008
Income (loss) from operations	$	(664)	$	105	$	219	$	59	$	2,416

EBITDA	$	(424)	$	339	$	443	$	965	$	3,237

Identified Items (1)	$	625	$	—	$	—	$	625	$	—
EBITDA excl. Identified Items	$	201	$	339	$	443	$	1,590	$	3,237
EBITDA margin (2)	11%		17%		19%		19%		29%

Housing and Infrastructure Products ("HIP") Segment
Net sales	$	946	$	1,144	$	938	$	4,212	$	4,786
Income from operations	$	121	$	256	$	68	$	710	$	675

EBITDA	$	173	$	327	$	133	$	949	$	955
EBITDA margin	18%		29%		14%		23%		20%

______________________________

(1)"Identified Items" include a $475 million non-cash impairment charge and a $150 million charge to fully resolve certain liability claims

(2)Excludes Identified Items

BUSINESS HIGHLIGHTS

In the fourth quarter of 2023, Westlake reported net sales of $2.8 billion, a net loss of $497 million, or $3.86 per share, and EBITDA (earnings before interest expense, income taxes, depreciation and amortization) of ($235) million. Earnings in the fourth quarter were impacted by a non-cash impairment charge of $475 million related to the Company's base epoxy resin assets in The Netherlands and the goodwill associated with our epoxy business as well as the previously disclosed $150 million ($115 million after-tax) charge related to a final settlement to fully resolve certain liability claims that are currently not being covered by certain of our excess carriers (the "Identified Items"), which are included in the Performance and Essential Materials segment financial results. Excluding the Identified Items, fourth quarter of 2023 net income attributable to Westlake was $93 million and EBITDA was $390 million. Earnings per share excluding the Identified Items were $0.72 compared to $1.79 in the prior-year period, and $2.20 in the prior quarter, reflecting generally lower sales prices, particularly for caustic soda, PVC resin and epoxy resin.

For the full year of 2023, Westlake reported net sales of $12.5 billion, net income of $479 million and EBITDA of $2.0 billion. Excluding the Identified Items, full year 2023 net income was $1.1 billion and EBITDA was $2.6 billion. Compared to the prior-year financial results, the Company's 2023 results were negatively impacted by lower product pricing and margins, particularly in PEM, and lower sales volume, particularly in HIP.

Performance and Essential Materials fourth quarter average sales price decreased 8% from the third quarter of 2023 while Housing and Infrastructure Products average sales price decreased 1% quarter-over-quarter. Overall sales prices for the Company decreased 6% sequentially from the previous quarter.

Sales volumes for Performance and Essential Materials in the fourth quarter increased 4% from the third quarter of 2023 while Housing and Infrastructure Products sales volumes reflected a typical seasonal decline of 16% quarter-over-quarter. Overall sales volumes for the Company decreased 4% sequentially from the previous quarter.

EXECUTIVE COMMENTARY

"While global macroeconomic conditions were challenging in 2023, Westlake was able to achieve the second highest annual sales in our history by servicing our customers' needs, commercializing new product innovations and leveraging our position as a global low-cost manufacturer. Despite significant headwinds from rising mortgage rates and lower new home construction, our Housing and Infrastructure Products segment grew its income from operations delivering a 23% EBITDA margin for the year; however, financial results in our Performance and Essential Materials segment were negatively impacted by continuing weak global industrial and manufacturing activity, sustained high operating costs in Europe and significant imports of material from Asia," said Albert Chao, President and Chief Executive Officer.

"Thus far in 2024, global macroeconomic conditions are largely unchanged from the fourth quarter of 2023. For the full year of 2024 we expect relatively healthy consumer spending in the U.S., supported by a strong labor market and moderating interest rates, to drive modest growth in HIP segment sales volume. In our PEM segment, we are not expecting further deterioration as we have recently seen some signs of stabilization in both sales prices and volumes in both domestic and export markets for most of our products. Our focus for PEM in 2024 will be on structural cost improvement in Europe; improving the reliability and efficiency of our plants; and further commercializing new product innovations. We believe that these efforts will have us well positioned as global industrial and manufacturing demand improves," concluded Mr. Chao.

RESULTS

Asset Impairment

During the fourth quarter of 2023, the Company recorded a $475 million non-cash impairment charge in the Performance and Essential Materials segment related to base epoxy resin assets in The Netherlands and the associated goodwill of the global epoxy business acquired from Hexion Inc. in February 2022. This impairment charge was driven by the rapid deterioration in global epoxy markets experienced over the past year as large global capacity additions met with weak global demand at a time of rapidly increasing operating costs, especially in our European operations.

Consolidated Results

(Unless otherwise noted the financial numbers below exclude the Identified Items)

For the three months ended December 31, 2023, the Company reported quarterly net income attributable to Westlake of $93 million, or $0.72 per share, on net sales of $2,826 million. The year-over-year decrease in net income of $139 million was primarily due to lower average selling prices and margins and restructuring costs of $22 million. These impacts were partially offset by higher sales volume.

Fourth quarter 2023 net income attributable to Westlake of $93 million decreased by $192 million sequentially as compared to the third quarter of 2023. The sequential decrease in net income compared to the prior quarter was primarily due to lower sales prices in Essential Materials and seasonally lower Housing and Infrastructure Products sales volume. These impacts were partially offset by higher Performance and Essential Materials sales volume.

EBITDA of $390 million for the fourth quarter of 2023 decreased by $229 million compared to fourth quarter 2022 EBITDA of $619 million. Fourth quarter 2023 EBITDA decreased by $292 million compared to third quarter 2023 EBITDA of $682 million.

iii

For the full year of 2023, net income attributable to Westlake of $1.1 billion decreased by $1.1 billion. Income from operations of $1.4 billion for the full year of 2023 decreased by $1.7 billion as compared to income from operations of $3.1 billion for the full year of 2022. The decreases in net income and income from operations were primarily due to generally lower average sales prices, particularly in Performance and Essential materials; lower sales volume, particularly in Housing and Infrastructure Products; increased maintenance downtime; and restructuring costs and other items.

Cash and Debt

Net cash provided by operating activities was $573 million for the fourth quarter of 2023 and $2,336 million for the full year of 2023. Capital expenditures for the fourth quarter and full year of 2023 were $282 million and $1,034 million, respectively. For the fourth quarter and full year of 2023, free cash flow (net cash provided by operating activities less capital expenditures) was $291 million and $1,302 million, respectively. The Company's cash and cash equivalents balance increased by $1,076 million to $3,304 million in 2023 while total debt increased by $27 million to $4,906 million.

A reconciliation of EBITDA to net income, income from operations (including and excluding Identified Items) and net cash provided by operating activities as well as a reconciliation of free cash flow to net cash flow provided by operating activities can be found in the financial schedules at the end of this press release.

Performance and Essential Materials Segment

(Unless otherwise noted the financial numbers below exclude the Identified Items)

For the fourth quarter of 2023, Performance and Essential Materials loss from operations was $39 million as compared to the fourth quarter of 2022's income from operations of $219 million. This year-over-year decrease of $258 million was due to lower average selling prices for most of our major products, particularly for caustic soda, PVC resin and epoxy resin. This negative impact was partially offset by higher sales volume.

Sequentially, Performance and Essential Materials income from operations decreased by $144 million as compared to the third quarter of 2023. This decrease in income from operations versus the prior quarter was primarily driven by lower average selling prices and unfavorable sales mix. These unfavorable factors were partially offset by higher sales volume, particularly for chlorovinyls.

For the full year of 2023, Performance and Essential Materials net sales of $8.3 billion decreased by $2.7 billion as compared to 2022. Performance Materials net sales of $4.7 billion decreased by $2.3 billion due to lower average selling prices, particularly for PVC resin, polyethylene and epoxy resins, and lower sales volume, particularly for epoxy resins. Essential Materials net sales of $3.7 billion decreased by $0.3 billion from 2022 primarily due to lower caustic soda average selling prices and sales volume. Performance and Essential Materials income from operations of $684 million decreased by $1.7 billion as compared to the full year of 2022. This decrease in income from operations versus the prior-year was primarily driven by lower average selling prices and margins.

Housing and Infrastructure Products Segment

For the fourth quarter of 2023, Housing and Infrastructure Products income from operations of $121 million increased by $53 million as compared to the fourth quarter of 2022. The year-over-year increase was the result of higher sales volume, particularly for pipe and fittings, and lower material costs.

Sequentially, Housing and Infrastructure Products income from operations decreased by $135 million as compared to the third quarter of 2023. This decrease in income from operations versus the prior quarter was primarily due to seasonally lower sales volume and approximately $20 million of costs related to plant closures resulting from the Company's manufacturing footprint optimization efforts.

For the full year of 2023, Housing and Infrastructure Products net sales of $4.2 billion decreased by $0.6 billion as compared to 2022. Housing Products net sales of $3.5 billion decreased by $0.4 billion due to generally lower sales volume as a result of the downturn in U.S. residential construction. Infrastructure Products net sales of $0.7 billion decreased by $0.2 billion as compared to 2022 due to both lower selling prices and sales volume. Housing and Infrastructure Products income from operations of $710 million increased by $35 million as compared to the full year of 2022 primarily due to lower materials costs.

Forward-Looking Statements

The statements in this release and the related teleconference relating to matters that are not historical facts, including statements regarding our outlook for the performance of our business segments, consumer spending in the U.S., global macroeconomic conditions, continuing stabilization of sales prices and volumes in both domestic and export markets for most of our products, trends in labor markets and interest rates, our ability to weather economic volatility, higher energy prices, our market position, our ability to improve reliability and efficiency of our plants, further commercialization of new product renovations, our cost savings initiatives, global demand for our products, and our ability to deliver greater value to customers and investors as general economic conditions improve are forward-looking statements.

These forward-looking statements are subject to significant risks and uncertainties. Actual results could differ materially, based on factors including, but not limited to: general economic and business conditions; the cyclical nature of the industry; the availability, cost and volatility of raw materials and energy; uncertainties associated with the United States, European and worldwide economies, including those due to political tensions and conflict in the Middle East, Russia and Ukraine and elsewhere; uncertainties associated with pandemic infectious diseases; uncertainties associated with climate change; the potential impact on demand for ethylene, polyethylene and polyvinyl chloride due to initiatives such as recycling and customers seeking alternatives to polymers; current and potential governmental regulatory actions in the United States and other countries; industry production capacity and operating rates; the supply/demand balance for Westlake's products; competitive products and pricing pressures; instability in the credit and financial markets; access to capital markets; terrorist acts; operating interruptions; changes in laws and regulations, including trade policies; technological developments; information systems failures and cyberattacks; foreign currency exchange risks; our ability to implement our business strategies; creditworthiness of our customers; the effect and results of litigation and settlements of litigation; and other risk factors. For more detailed information about the factors that could cause actual results to differ materially, please refer to Westlake's Annual Report on Form 10-K for the year ended December 31, 2022, which was filed with the SEC in February 2023, and Quarterly Report on Form 10-Q for the quarter ended September 30, 2023, which was filed with the SEC in November 2023.

Use of Non-GAAP Financial Measures

This release makes reference to certain "non-GAAP" financial measures, such as EBITDA, free cash flow and other measures that exclude the effects of the Identified Items, as defined in Regulation G of the U.S. Securities Exchange Act of 1934, as amended. For this purpose, a non-GAAP financial measure is generally defined by the Securities and Exchange Commission ("SEC") as a numerical measure of a registrant's historical or future financial performance, financial position or cash flows that (1) excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statement of income, balance sheet or statement of cash flows (or equivalent statements) of the registrant; or (2) includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented. We report our financial results in accordance with U.S. generally accepted accounting principles ("U.S. GAAP"), but believe that certain non-GAAP financial measures, such as EBITDA, free cash flow and measures that exclude the effects of the Identified Items, provide useful supplemental information to investors regarding the underlying business trends and performance of the Company's ongoing operations and are useful for period-over-period comparisons of such operations. These non-GAAP financial measures should be considered as a supplement to, and not as a substitute for, or superior to, the financial measures prepared in accordance with U.S. GAAP. A reconciliation of (i) EBITDA to net income, income from operations and net cash provided by operating activities, (ii) free cash flow to net cash provided by operating activities, and (iii) other measures reflecting adjustments for the effects of the Identified Items can be found in the financial schedules at the end of this press release.

About Westlake

Westlake is a global manufacturer and supplier of materials and innovative products that enhance life every day. Headquartered in Houston, with operations in Asia, Europe and North America, we provide the building blocks for vital solutions — from housing and construction, to packaging and healthcare, to automotive and consumer. For more information, visit the Company's web site at www.westlake.com.

Westlake Corporation Conference Call Information:

A conference call to discuss Westlake Corporation's fourth quarter and full year 2023 results will be held Tuesday, February 20, 2024 at 11:00 AM Eastern Time (10:00 AM Central Time). To access the conference call, it is necessary to pre-register at https://register.vevent.com/register/BIb0686f53c7f44babb49b408c59ec0d23. Once registered, you will receive a phone number and unique PIN number.

A replay of the conference call will be available beginning two hours after its conclusion. The conference call and replay will be available via webcast at https://edge.media-server.com/mmc/p/fg9k946y.

WESTLAKE CORPORATION

CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)


	Three Months Ended December 31,				Twelve Months Ended December 31,
	2023		2022		2023		2022

	(In millions of dollars, except per share data and share amounts)
Net sales	$	2,826	$	3,299	$	12,548	$	15,794
Cost of sales	2,627		2,732		10,329		11,721
Gross profit	199		567		2,219		4,073
Selling, general and administrative expenses	224		200		865		835
Impairment of goodwill and long-lived assets	475		—		475		—
Amortization of intangibles	30		31		122		155
Restructuring, transaction and integration-related costs	22		9		28		33
Income (loss) from operations	(552)		327		729		3,050
Interest expense	(41)		(43)		(165)		(177)
Other income, net	35		21		136		73
Income (loss) before income taxes	(558)		305		700		2,946
Provision for (benefit from) income taxes	(71)		57		178		649
Net income (loss)	(487)		248		522		2,297
Net income attributable to noncontrolling interests	10		16		43		50
Net income (loss) attributable to Westlake Corporation	$	(497)	$	232	$	479	$	2,247
Earnings (loss) per common share attributable to Westlake Corporation:
Basic	$	(3.86)	$	1.80	$	3.73	$	17.46
Diluted	$	(3.86)	$	1.79	$	3.70	$	17.34
Weighted average common shares outstanding:
Basic	128,165,690		127,532,119		127,806,317		127,970,445
Diluted	128,165,690		128,376,159		128,598,441		128,845,562

vii

WESTLAKE CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)


	December 31,
	2023		2022

	(In millions of dollars)
ASSETS
Current assets
Cash and cash equivalents	$	3,304	$	2,228
Accounts receivable, net	1,601		1,801
Inventories	1,622		1,866
Prepaid expenses and other current assets	82		78

Total current assets	6,609		5,973
Property, plant and equipment, net	8,519		8,477

Other assets, net	5,907		6,100
Total assets	$	21,035	$	20,550

LIABILITIES AND EQUITY
Current liabilities (accounts payable and accrued and other liabilities)	$	2,491	$	2,298
Current portion of long-term debt, net	299		—

Long-term debt, net	4,607		4,879

Other liabilities	2,874		2,908
Total liabilities	10,271		10,085
Total Westlake Corporation stockholders' equity	10,241		9,931
Noncontrolling interests	523		534
Total equity	10,764		10,465
Total liabilities and equity	$	21,035	$	20,550

viii

WESTLAKE CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)


	Twelve Months Ended December 31,
	2023		2022

	(In millions of dollars)
Cash flows from operating activities
Net income	$	522	$	2,297
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	1,097		1,056
Impairment of goodwill and long-lived assets	475		—
Deferred income taxes	(175)		(21)
Net loss on disposition and others	85		87
Other balance sheet changes	332		(24)
Net cash provided by operating activities	2,336		3,395
Cash flows from investing activities
Acquisition of business, net of cash acquired	—		(1,203)
Additions to investments in unconsolidated subsidiaries	(25)		(180)
Additions to property, plant and equipment	(1,034)		(1,108)

Other, net	22		12
Net cash used for investing activities	(1,037)		(2,479)
Cash flows from financing activities

Distributions to noncontrolling interests	(54)		(60)
Dividends paid	(221)		(169)
Proceeds from exercise of stock options	44		18



Repayment of senior notes	—		(250)
Repurchase of common stock for treasury	(23)		(101)
Other, net	9		(25)
Net cash used for financing activities	(245)		(587)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	19		(24)
Net increase in cash, cash equivalents and restricted cash	1,073		305
Cash, cash equivalents and restricted cash at beginning of period	2,246		1,941
Cash, cash equivalents and restricted cash at end of period	$	3,319	$	2,246

WESTLAKE CORPORATION

SEGMENT INFORMATION

(Unaudited)


	Three Months Ended December 31,				Twelve Months Ended December 31,
	2023		2022		2023		2022

	(In millions of dollars)
Net external sales
Performance and Essential Materials
Performance Materials	$	1,107	$	1,286	$	4,656	$	6,964
Essential Materials	773		1,075		3,680		4,044
Total Performance and Essential Materials	1,880		2,361		8,336		11,008
Housing and Infrastructure Products
Housing Products	795		758		3,494		3,864
Infrastructure Products	151		180		718		922
Total Housing and Infrastructure Products	946		938		4,212		4,786
	$	2,826	$	3,299	$	12,548	$	15,794
Income (loss) from operations
Performance and Essential Materials	$	(664)	$	219	$	59	$	2,416
Housing and Infrastructure Products	121		68		710		675
Corporate and other	(9)		40		(40)		(41)
	$	(552)	$	327	$	729	$	3,050
Depreciation and amortization
Performance and Essential Materials	$	229	$	212	$	881	$	784
Housing and Infrastructure Products	50		57		207		263
Corporate and other	3		2		9		9
	$	282	$	271	$	1,097	$	1,056
Other income, net
Performance and Essential Materials	$	11	$	12	$	25	$	37
Housing and Infrastructure Products	2		8		32		17
Corporate and other	22		1		79		19
	$	35	$	21	$	136	$	73

WESTLAKE CORPORATION

RECONCILIATION OF EBITDA TO NET INCOME AND INCOME FROM OPERATIONS AND

NET CASH PROVIDED BY OPERATING ACTIVITIES (INCLUDING AND EXCLUDING IDENTIFIED ITEMS)

(Unaudited)


	Three Months Ended September 30,		Three Months Ended December 31,				Twelve Months Ended December 31,
	2023		2023		2022		2023		2022

	(In millions of dollars, except percentages)
Net cash provided by operating activities	$	696	$	573	$	835	$	2,336	$	3,395
Changes in operating assets and liabilities and other	(417)		(1,168)		(652)		(1,989)		(1,119)
Deferred income taxes	16		108		65		175		21
Net income (loss)	295		(487)		248		522		2,297
Add:
Impairment charge	—		475		—		475		—
Litigation settlement charge, after-tax	—		115		—		115		—
Net income excl. Identified Items	$	295	$	103	$	248	$	1,112	$	2,297

Net income (loss)	$	295	$	(487)	$	248	$	522	$	2,297
Less:
Other income, net	56		35		21		136		73
Interest expense	(40)		(41)		(43)		(165)		(177)
Benefit from (provision for) income taxes	(70)		71		(57)		(178)		(649)
Income (loss) from operations	349		(552)		327		729		3,050
Add:
Impairment charge	—		475		—		475		—
Litigation settlement charge, pre-tax	—		150		—		150		—
Income from operations excl. Identified Items	349		73		327		1,354		3,050
Add:
Depreciation and amortization	277		282		271		1,097		1,056
Other income, net	56		35		21		136		73
EBITDA excl. Identified Items	682		390		619		2,587		4,179
Less:
Impairment charge	—		475		—		475		—
Litigation settlement charge, pre-tax	—		150		—		150		—
EBITDA	$	682	$	(235)	$	619	$	1,962	$	4,179
Net external sales	$	3,115	$	2,826	$	3,299	$	12,548	$	15,794
Operating income (loss) margin	11%		(20)%		10%		6%		19%
Operating income margin excl. Identified Items	11%		3%		10%		11%		19%
EBITDA margin	22%		(8)%		19%		16%		26%
EBITDA margin excl. Identified Items	22%		14%		19%		21%		26%

WESTLAKE CORPORATION

RECONCILIATION OF DILUTED EARNINGS PER COMMON SHARE TO DILUTED EARNINGS PER COMMON SHARE EXCLUDING IDENTIFIED ITEMS

(Unaudited)


	Three Months Ended September 30,		Three Months Ended December 31,				Twelve Months Ended December 31,
	2023		2023		2022		2023		2022

	(per share data)
Diluted earnings (loss) per common share attributable to Westlake Corporation	$	2.20	$	(3.86)	$	1.79	$	3.70	$	17.34
Add:
Impairment charge	—		3.69		—		3.68		—
Litigation settlement charge	—		0.89		—		0.89		—
Diluted earnings per common share attributable to Westlake Corporation excl. Identified Items	$	2.20	$	0.72	$	1.79	$	8.27	$	17.34

WESTLAKE CORPORATION

RECONCILIATION OF FREE CASH FLOW TO NET CASH PROVIDED BY OPERATING ACTIVITIES

(Unaudited)


	Three Months Ended September 30,		Three Months Ended December 31,				Twelve Months Ended December 31,
	2023		2023		2022		2023		2022

	(In millions of dollars)
Net cash provided by operating activities	$	696	$	573	$	835	$	2,336	$	3,395
Less:
Additions to property, plant and equipment	245		282		297		1,034		1,108
Free cash flow	$	451	$	291	$	538	$	1,302	$	2,287

xii

WESTLAKE CORPORATION

RECONCILIATION OF PEM SEGMENT EBITDA TO INCOME FROM OPERATIONS (INCLUDING AND EXCLUDING IDENTIFIED ITEMS)

(Unaudited)


	Three Months Ended September 30,		Three Months Ended December 31,				Twelve Months Ended December 31,
	2023		2023		2022		2023		2022

	(In millions of dollars, except percentages)
Performance and Essential Materials Segment
Income (loss) from operations	$	105	$	(664)	$	219	$	59	$	2,416
Add:
Impairment charge	—		475		—		475		—
Litigation settlement charge	—		150		—		150		—
Income (loss) from operations excl. Identified Items	105		(39)		219		684		2,416
Add:
Depreciation and amortization	225		229		212		881		784
Other income, net	9		11		12		25		37
EBITDA excl. Identified Items	339		201		443		1,590		3,237
Less:
Impairment charge	—		475		—		475		—
Litigation settlement charge	—		150		—		150		—
EBITDA	$	339	$	(424)	$	443	$	965	$	3,237
Net external sales	$	1,971	$	1,880	$	2,361	$	8,336	$	11,008
Operating income (loss) margin	5%		(35)%		9%		1%		22%
Operating income (loss) margin excl. Identified Items	5%		(2)%		9%		8%		22%
EBITDA margin	17%		(23)%		19%		12%		29%
EBITDA margin excl. Identified Items	17%		11%		19%		19%		29%

xiii

WESTLAKE CORPORATION

RECONCILIATION OF HIP SEGMENT EBITDA TO INCOME FROM OPERATIONS

(Unaudited)


	Three Months Ended September 30,		Three Months Ended December 31,				Twelve Months Ended December 31,
	2023		2023		2022		2023		2022

	(In millions of dollars, except percentages)







Housing and Infrastructure Products Segment
Income from operations	$	256	$	121	$	68	$	710	$	675
Add:
Depreciation and amortization	51		50		57		207		263
Other income, net	20		2		8		32		17
EBITDA	$	327	$	173	$	133	$	949	$	955
Net external sales	$	1,144	$	946	$	938	$	4,212	$	4,786
Operating income margin	22%		13%		7%		17%		14%
EBITDA margin	29%		18%		14%		23%		20%

WESTLAKE CORPORATION

SUPPLEMENTAL INFORMATION

Product Sales Price and Volume Variance by Operating Segments


	Fourth Quarter 2023 vs. Fourth Quarter 2022				Fourth Quarter 2023 vs. Third Quarter 2023
	Average Sales Price		Volume		Average Sales Price		Volume
Performance and Essential Materials	-27	%	+6	%	-8	%	+4	%
Housing and Infrastructure Products	-10	%	+11	%	-1	%	-16	%
Company	-22	%	+7	%	-6	%	-4	%

xiv

1 Earnings Presentation 4Q 2023

2 Fourth Quarter 2023 Highlights (1) Excludes “Identified Items” consisting of a $475 million non-cash impairment charge and a $150 million charge to fully resolve certain claims (2) Reconciliation of Net Income and Net Income Per Share excl. Identified Items to Net Income and Net Income Per Share can be found on page 11 (3) Reconciliation of EBITDA excl. Identified Items to Net Income, Income from Operations and Net Cash Provided by Operating Activities can be found on page 12 (4) Reconciliation of Free Cash Flow to Net Cash Provided by Operating Activities can be found on page 14 4Q 2023 Financial Results(1) Improving volume trends provide momentum into 2024 • Record Housing and Infrastructure Products (HIP) annual income from operations of $710 million reflecting the strength of our brands • Generated free cash flow of $291 million in the quarter and $1.3 billion in 2023 • Achieved $110 million of cost savings in 2023, including $30 million in 4Q’23 • Sales volume increased 7% YoY in 4Q’23 with momentum continuing into 1Q’24 • Targeting a further $125 – $150 million of cost savings in 2024 $2.8B Net Sales 9% decrease vs. 3Q $93M Net Income(1,2) 67% decrease vs. 3Q $390M EBITDA(1,3) 43% decrease vs. 3Q $0.72 Net Income Per Share(1,2) $291M Free Cash Flow(1,4) $3.3B Cash and Equivalents

3 Westlake Corporation 4Q 2023(1) Identified Items consisting of a non-cash impairment charge of $475 million and a litigation settlement charge of $150 million negatively impacted PEM segment reported earnings YoY sales volume growth in 4Q’23 in each segment, driven by caustic soda and chlorovinyls in PEM; and pipe & fittings and siding & trim in HIP PEM segment average sales price fell 8% QoQ, driven by caustic soda and PVC due to increased export demand and price reductions that occurred in the third quarter 4Q’23 EBITDA was reduced by $20 million due to restructuring costs as we optimized our HIP manufacturing footprint HIP quarterly EBITDA up solidly YoY contributing to record annual HIP segment income from operations (1) Excludes “Identified Items” consisting of a $475 million non-cash impairment charge and a $150 million charge to fully resolve certain claims (2) Reconciliations of EBITDA excl. Identified Items, Performance and Essential Materials EBITDA excl. Identified Items, Housing and Infrastructure Products EBITDA and Corporate EBITDA to the applicable GAAP measures can be found on pages 12 and 13 4Q'23 3Q'23 QoQ% 4Q'22 YoY% FY'23 FY'22 YoY% $2,826 $3,115 (9%) $3,299 (14%) $12,548 $15,794 (21%) $73 $349 (79%) $327 (78%) $ 1,354 $3,050 (56%) Performance and Essential Materials $201 $339 (41%) $443 (55%) $1,590 $3,237 (51%) Housing and Infrastructure Products $173 $327 (47%) $133 30% $949 $955 (1%) Corporate $16 $16 - $43 - $48 ($13) - $390 $682 (43%) $619 (37%) $2,587 $4,179 (38%) Operating Income(1) Sales EBITDA(1,2) ($ in millions) Westlake 4Q 2023 vs. 3Q 2023 Average Sales Price -5.6% Volume -3.7% Westlake 4Q 2023 vs. 4Q 2022 Average Sales Price -21.7% Volume +7.4%

4 Leveraging HIP Portfolio’s Leading Positions in Attractive Markets Long-term Demand Opportunities • Over a decade of underbuilding in U.S. residential housing • Demographics and work flexibility drive housing growth • Repair and remodel spend • Residential housing growth • PVC replacing iron and concrete pipe for water usage • Aging infrastructure & U.S. infrastructure bill • Electrification trends • U.S. infrastructure bill spend on power grid & broadband • Housing, construction, and electrification trends • Medical equipment demand growth • Sustainable automotive interiors • Growing consumer commitment to made in the USA green sustainable products Flagship Brands Growth Opportunities US TAM(1) Market Positions Siding & Accessories • Vinyl siding provides lowest installed cost • Majority is driven by stable R&R spend • Strong housing construction demand ~$10B #1 Non-wood Shutters #3 Premium Siding Trim & Molding • Displacing wood and other alternatives • Strong housing construction demand • Stable R&R spend ~$3B #1 Premium PVC Trim #1 Poly-Ash Trim Roofing • Displacing natural slate and other alternatives • Strong housing construction demand • Majority is driven by stable R&R spend ~$15B #1 Concrete & Clay Tile #1 Composite Tile #2 Stone Coated Metal Decorative Stone • Housing construction and R&R spend • Market leading brands support demand • Westlake’s innovation in cultured stone ~$4B #1 Architectural Stone Veneer Pipe & Fittings • Patented pipe connecting technology • PVCO transports more water with less raw materials ~$10B #1 Horizontal Direction Drilling #2 Municipal Housing / Infrastructure Pipe Outdoor Living • Displacing wood decking • Growing outdoor trends post-pandemic • Market leading brands and attractive aesthetics Leveraging leading brands driving higher penetration in Outdoor Living Brand Value Westlake Royal Building Products Branding drives higher and more stable margins ~80% of Sales Go through 1 Step distributors who sell to the final customer enhancing margins over other channels to market (1) Total Addressable Market

5 Housing and Infrastructure Products (“HIP”) Segment Performance HIP Segment 4Q 2023 vs. 3Q 2023 Average Sales Price -1.2% Volume -16.1% HIP Segment 4Q 2023 vs. 4Q 2022 Average Sales Price -9.7% Volume +10.6% Significantly higher YoY sales volume in the fourth quarter driven by demand for pipe & fittings and siding & trim Our brand strength drove EBITDA margin expansion to 18% in 4Q’23 from 14% in 4Q’22 by supporting our sales prices as our material costs declined $20 million of restructuring costs in the fourth quarter of 2023 to optimize our manufacturing footprint Achieved over $20 million of additional cost synergies from the Boral, Lasco and Dimex acquisitions in 2023 (1) Reconciliations of HIP EBITDA to the applicable GAAP measure can be found on page 13 (2) HIP EBITDA margin is calculated by dividing HIP EBITDA by Total HIP Sales 4Q'23 3Q'23 QoQ% 4Q'22 YoY% FY'23 FY'22 YoY% Housing Products Sales $795 $963 (17%) $758 5% $3,494 $3,864 (10%) Infrastructure Products Sales $151 $181 (17%) $180 (16%) $718 $922 (22%) Total HIP Sales $946 $1,144 (17%) $938 1% $4,212 $4,786 (12%) Operating Income $121 $256 (53%) $68 78% $710 $675 5% EBITDA(1) $173 $327 (47%) $133 30% $949 $955 (1%) EBITDA Margin (2) 18% 29% - 14% - 23% 20% - ($ in millions)

6 Housing and Infrastructure Products Update 2 Longer-term fundamentals for housing strength remain intact due to decade-plus of under- building, increasingly favorable demographics and increasing popularity of remote work 3 The decline in mortgage rates since their peak in October 2023 is improving homeowner affordability and homebuilder confidence resulting in improving customer orders 4 The breadth of our footprint and its expansive offerings provide our customers the branded products they need to execute their growth plans and has provided the product cross-selling and product suite sales opportunities that have driven our record annual operating income 1 Solid demand for pipe & fittings, particularly for large-diameter pipe, driven by continuing housing construction activity and projects related to the Infrastructure Investment and Jobs Act

7 Performance and Essential Materials (“PEM”) Segment Performance(1) (1) Excludes “Identified Items” consisting of a $475 million non-cash impairment charge and a $150 million charge to fully resolve certain claims (2) Reconciliations of PEM EBITDA excl. Identified Items to the applicable GAAP measure can be found on page 13 (3) PEM EBITDA margin is calculated by dividing PEM EBITDA excl. Identified Items by Total PEM Sales PEM Segment 4Q 2023 vs. 3Q 2023 Average Sales Price -8.1% Volume +3.5% PEM Segment 4Q 2023 vs. 4Q 2022 Average Sales Price -26.5% Volume +6.1% Identified Items consisting of a non- cash impairment charge of $475 million and a litigation settlement charge of $150 million negatively impacted PEM segment reported earnings Challenging macroeconomic conditions drove lower average sales prices, particularly for caustic soda, and EBITDA margins on both a QoQ and YoY basis Implemented actions to reduce our costs and improve the profitability of our European businesses Sales volume rose 4% QoQ, led by caustic soda, which was counter to the normal seasonal decline in sales volume toward year end 4Q'23 3Q'23 QoQ% 4Q'22 YoY% FY'23 FY'22 YoY% Performance Materials Sales$1,107 $1,127 (2%) $1,286 (14%) $4,656 $6,964 (33%) Essential Materials Sales $773 $844 (8%) $1,075 (28%) $3,680 $4,044 (9%) Total PEM Sales $1,880 $1,971 (5%) $2,361 (20%) $8,336 $11,008 (24%) Operating Income (Loss)(1) ($39) $105 (137%) $219 (118%) 684 $2,416 (72%) EBITDA(1,2) $201 $339 (41%) $443 (55%) $1,590 $3,237 (51%) EBITDA Margin (1,3) 11% 17% - 19% - 19% 29% - ($ in millions)

8 Performance and Essential Materials Update 2 Global macroeconomic conditions remain challenging and weak industrial and manufacturing activity along with sales mix shifts drove lower average sales prices, particularly for epoxy resin, caustic soda and PVC resin 3 Our near-term focus is on structural cost improvements, particularly in Europe; improving the reliability and efficiency of our plants; and further commercializing new product innovations 4 Lower sales prices in 4Q’23 drove an increase in demand, led by caustic soda, that contributed to a 6% YoY increase in our sales volume that is continuing into 2024 supporting price momentum for most of the products in our PEM segment 1 Customer inventories are at relatively low levels following a period of prolonged destocking, and sales volumes reflect end market trends as evidenced by the 4% QoQ sales volume growth in the fourth quarter, which was counter to the normal seasonal decline typically seen towards year end, with volume momentum continuing into 1Q’24

99 Financial Reconciliations

10 Consolidated Statements of Operations Performance and Essential Materials Sales $ 1,880 $ 2,361 $ 1,971 $ 8,336 $ 11,008 Housing and Infrastructure Products Sales 946 938 1,144 4,212 4,786 Net sales 2,826 3,299 3,115 12,548 15,794 Cost of sales Gross profit Selling, general and administrative expenses Impairment of goodwill and long-lived assets Amortization of intangibles Restructuring, transaction and integration-related costs Income (loss) from operations Interest expense Other income, net Income (loss) before income taxes Provision for (benefit from) income taxes Net income (loss) Net income attributable to noncontrolling interests Net income (loss) attributable to Westlake Corporation $ (497) $ 232 $ 285 $ 479 $ 2,247 Earnings (loss) per common share attributable to Westlake Corporation: Basic $ (3.86) $ 1.80 $ 2.22 $ 3.73 $ 17.46 Diluted $ (3.86) $ 1.79 $ 2.20 $ 3.70 $ 17.34 16 43 50 10 10 295 57 178 649 - 349 (40) 56 2022 2023 2022 (In millions of dollars, except per share data) 365 70 (71) (41) (43) (165) (177) 248 522 2,297 (558) 305 700 2,946 35 21 136 73 (487) 22 9 28 33 (552) 327 729 3,050 475 - - 475 - 30 31 122 155 31 224 200 865 835 206 Three months ended December 31, Twelve months ended December 31, Three months ended September 30, 199 567 2,219 4,073 2023 2,529 586 2,627 2,732 10,329 11,721 2023

11 Net income (loss) $ (487) $ 248 $ 295 $ 522 $ 2,297 Less: Net income attributable to noncontrolling interests Net income (loss) attributable to Westlake Corporation (497) 232 285 479 2,247 Add: Impairment charge, after-tax Litigation settlement charge of $150 million, after-tax Net income attributable to Westlake Corporation excl. Identified Items $ 93 $ 232 $ 285 $ 1,069 $ 2,247 Diluted earnings (loss) per common share attributable to Westlake Corporation $ (3.86) $ 1.79 $ 2.20 $ 3.70 $ 17.34 Add: Impairment charge per share 3.69 3.68 Litigation settlement charge per share 0.89 0.89 Diluted earnings per common share attributable to Westlake Corporation excl. Identified Items $ 0.72 $ 1.79 $ 2.20 $ 8.27 $ 17.34 - - - - - - - - 475 115 115 - - - - 475 10 16 10 43 50 (In millions of dollars, except per share data) Three months ended December 31, Three months ended September 30, Twelve months ended December 31, 2023 2022 2023 2023 2022 Reconciliation of Net Income Attributable to Westlake Corporation and Earnings Per Diluted Share to Net Income and Diluted Earnings Per Share excl. Identified Items

12 Reconciliation of EBITDA excl. Identified Items to EBITDA, Net Income, Income from Operations and Net Cash Provided by Operating Activities Net cash provided by operating activities $ 573 $ 835 $ 696 $ 2,336 $ 3,395 Changes in operating assets and liabilities and other Deferred income taxes Net income (loss) Add: Other expense (income), net Interest expense Provision for (benefit from) income taxes Income (loss) from operations Add: Depreciation and amortization Other income (expense), net EBITDA (235) 619 682 1,962 4,179 Add: Impairment Charge Litigation Settlement Charge EBITDA excl. Identified Items $ 390 $ 619 $ 682 $ 2,587 $ 4,179 Income (loss) from operations margin (20%) 10% 11% 6% 19% EBITDA excl. Identified Items margin 14% 19% 22% 21% 26% 150 - - 150 - 475 - - 475 - Three months ended December 31, Twelve months ended December 31, 20232023 2022 2023 2022 Three months ended September 30, (In millions of dollars) 21 (417)(1,168) (652) (1,989) (1,119) 16 108 65 175 295(487) 248 522 2,297 40 41 43 165 177 (56)(35) (21) (136) (73) 349 (552) 327 729 3,050 70 (71) 57 178 649 277 282 271 1,097 1,056 56 35 21 136 73

13 Reconciliation of PEM EBITDA excl. Identified Items, HIP EBITDA and Corporate EBITDA to Operating Income (Loss) Three months ended December 31, Three months ended September 30, Twelve months ended December 31, 2023 2022 2023 2023 2022 Performance and Essential Materials EBITDA excl. Identified Items $ 201 $ 443 $ 339 $ 1,590 $ 3,237 Less: Impairment Charge 475 - - 475 - Litigation Settlement Charge 150 - - 150 - Depreciation and Amortization 229 212 225 881 784 Other Income (Expenses) 11 12 9 25 37 Performance and Essential Materials Operating Income (Loss) (664) 219 105 59 2,416 Housing and Infrastructure Products EBITDA 173 133 327 949 955 Less: Depreciation and Amortization 50 57 51 207 263 Other Income (Expenses) 2 8 20 32 17 Housing and Infrastructure Products Operating Income (Loss) 121 68 256 710 675 Corporate EBITDA 16 43 16 48 (13) Less: Depreciation and Amortization 3 2 1 9 9 Other Income (Expenses) 22 1 27 79 19 Corporate Operating Income (Loss) (9) 40 (12) (40) (41) Performance and Essential Materials Operating Income (Loss) (664) 219 105 59 2,416 Housing and Infrastructure Products Operating Income (Loss) 121 68 256 710 675 Corporate Operating Income (Loss) (9) 40 (12) (40) (41) Total Operating Income (Loss) (552)$ 327$ 349$ 729$ 3,050$ (In millions of dollars)

14 Reconciliation of Free Cash Flow to Net Cash Provided by Operating Activities Net cash provided by operating activities $ 573 $ 835 $ 696 $ 2,336 $ 3,395 Less: Additions to property, plant and equipment Free Cash Flow $ 291 $ 538 $ 451 $ 1,302 $ 2,287 282 297 245 1,034 1,108 (In millions of dollars) Three months ended December 31, Three months ended September 30, Twelve months ended December 31, 2023 2022 2023 2023 2022

15 Safe Harbor Language This presentation contains certain forward-looking statements including statements regarding our cost savings objectives and our ability to maintain synergies, pricing and demand for our products, global macroeconomic conditions, anticipated sales volumes, expectations regarding the non-recurring nature of unusual items such as the Identified Items, industry outlook for both of our segments, our cost control and efficiency efforts, the effects of legislation, including the Infrastructure Investment and Jobs Act, the effects of changing demographics in the markets that we serve, anticipated residential housing growth, the proliferation of electrification, consumer sentiment regarding products manufactured domestically and sustainability, expectations regarding mortgage rates and their effects on the affordability of homes, expectations regarding homebuilder confidence, the anticipated effects of our branding efforts and cross-selling activities, and customer inventory levels resulting from destocking activities. Actual results may differ materially depending on factors, including, but not limited to, the following: the effects of our recently completed acquisitions, including our future financial condition, results of operations, strategy and plans; and expected synergies and other benefits from the acquisitions and our ability to realize such synergies and other benefits; general economic and business conditions; the cyclical nature of the chemical and building products industries; the availability, cost and volatility of raw materials and energy; uncertainties associated with the United States, European and worldwide economies, including those due to political tensions and unrest in the Middle East and elsewhere including the conflict between Russia and Ukraine; current and potential governmental regulatory actions in the United States and other countries; industry production capacity and operating rates; the supply/demand balance for our products; competitive products and pricing pressures; instability in the credit and financial markets; access to capital markets; terrorist acts; operating interruptions (including leaks, explosions, fires, weather-related incidents, mechanical failure, unscheduled downtime, labor difficulties, transportation interruptions, spills and releases and other environmental risks); changes in laws or regulations, including trade policies; technological developments; information systems failures and cyber attacks; foreign currency exchange risks; our ability to implement our business strategies; creditworthiness of our customers; and other factors described in our reports filed with the Securities and Exchange Commission. Many of these factors are beyond our ability to control or predict. Any of these factors, or a combination of these factors, could materially affect our future results of operations and the ultimate accuracy of the forward-looking statements. These forward-looking statements are not guarantees of our future performance, and our actual results and future developments may differ materially from those projected in the forward-looking statements. Management cautions against putting undue reliance on forward-looking statements. Every forward-looking statement speaks only as of the date of the particular statement, and we undertake no obligation to publicly update or revise any forward-looking statements. Investor Relations Contacts Steve Bender Executive Vice President & Chief Financial Officer Jeff Holy Vice President & Treasurer Westlake Corporation 2801 Post Oak Boulevard, Suite 600, Houston, Texas 77056 | 713-960-9111

Cover Page Cover Page	Feb. 20, 2024
Document Information [Line Items]
Document Type	8-K
Document Period End Date	Feb. 20, 2024
Entity Registrant Name	Westlake Corporation
Entity Incorporation, State or Country Code	DE
Entity File Number	001-32260
Entity Tax Identification Number	76-0346924
Entity Address, Address Line One	2801 Post Oak Boulevard,
Entity Address, Address Line Two	Suite 600
Entity Address, City or Town	Houston,
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77056
City Area Code	713
Local Phone Number	960-9111
Entity Emerging Growth Company	false
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Amendment Flag	false
Entity Central Index Key	0001262823
Common Stock [Member]
Document Information [Line Items]
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	WLK
Security Exchange Name	NYSE
One Point Six Two Five Percentage Senior Notes Due Twenty Twenty Nine [Member] [Domain]
Document Information [Line Items]
Title of 12(b) Security	1.625% Senior Notes due 2029
Trading Symbol	WLK29
Security Exchange Name	NYSE