everyone. morning start followed review I'll other results and good segment our discussing a and vinyls Albert you financial our of Thank consolidated with detailed by results.
with our results. begin me Let consolidated
record XXXX EBITDA numerous the in sales per made by performance vinyls and set improvement year production billion past of $XXX of share, in direct income year's reliability our both For years. record improvement our driven and segments. or higher The performance of we billion. net in the we we the as operations from This result $X.X operating full and reported $X.X operations million income investments two of olefins was records program a over is and volumes of $X.XX
we've economic higher as in to In our especially continued prices improvements addition limited to soda and benefited vinyls has throughout operations caustic global demand from the supply chain global increase and with for additions. growth
fourth the compared quarter the to fourth the adjusting the tax million decreased XXXX income quarter net fourth turn quarter. for sales me for $X.XX December review of $XXX $XXX XXXX. Westlake's of associated let after reform diluted was tax with Net share net for Now per billion. quarter XXXX income or million $X the fourth to income $XX in million on benefit
fourth demand followed oil fell from the and as in the prices polyethylene due mentioned XX% prices to end of lower the lower Albert declined rent also quarter downward PVC construction third As quarter. for increased feedstock prices fourth and impacted and prices. by due infrastructure demand, colder were fuel concerns. trade costs The ethylene weather. polymers The saw higher to global both adversely constraints, ethane quarter also
these first million. million for quarter $X.X XXXX soda, for of quarter offsetting fourth impacts caustic higher prices billion $XXX XXXX net from interest $XXX $XXX higher half retirement volumes resulting income lower net sales the in in and of third polyethylene, course Of the and debt of income sales XXXX. decreased the expense of million volumes The were from
trade. an vinyls to the was and cold oil our to by the lower the have compared impact prior products in quarter quarter the reported in the if natural what from for third products significant earnings would the all sales approximately sales Seasonally increases been lower the method ethane uncertainties weather impacted patterns. we from end prices higher business the cost compared XXXX for by had fourth $XX quarter downstream ethane feedstock driven resin experienced As of cost gas million and in on the LIFO due our earnings major in international to PVC and volumes our fourth higher of quarter in decline prices unusually impacted September as
on let segment. the to move review starting vinyl our segments performance Now of with the me two
on $XXX $XX resin sales in million fuel feedstock from and cost. results decreased vinyls higher higher For the of fourth million quarter margins the quarter income from $XXX primarily lower ethane fourth operating XXXX prices lower cost, PVC XXXX markets, operating international income to million due which of
higher lower addition operating slowdown also saw the to all the fourth the quarter declined compared as to. quarter income cost the feedstock ethylene higher weather impacts The prices prices FIFO soda in caustic seasonally business. the to and fuel by for costs to typically due unusually impact, to our business, which In the to fourth which driven just our ethane third vinyls contributed higher spoke vinyls quarter cold Albert issues purchased unfavorable related
XXXX the and this combined international inventories oil XXXX margins fourth to from XXXX, cost in Harvey. FIFO operations quarter income global our and million sales olefins decline ethane business for olefins decreased the also global In cost. to in In as quarter In not in prices feedstock from of high prices which polyethylene income strong quarter the ran meet to that we XXXX industry steep decreased polyethylene benefit from due fourth operating fuel reported customers resulting our from global rates impact feedstock as operating with integrated delivered destocked partially higher offset result lower growing the million ethane fourth did I Olefins in operations impacted olefins prices fourth segment by industry the also income quarter segment which in at trade higher volumes. quarter were In Hurricane mentioned of million fourth XXXX $XX million. operating crude weighed and a from demand. Turning income the third by consultants market. the of spite just oil decline our were polyethylene comparison the of impact polyethylene prices simplest the declined lower million of income operating on uncertainties volumes quarter were prices operations fourth $XX polyethylene higher increasing due lower demand the XXXX for the the as $XX $XXX to quarter $XXX
and let's to the balance sheet flows. our of statement cash Now turn attention
As our of had Throughout chain. and value activities XXXX cash the of to that Fourth were reliability grow improve cash captured plans $XXX $XXX XXXX. we operating for cash our equivalents to and from the and of year full million December total the $X.X of billion. expand XXXX flows quarter in business billion XX, opportunities the and we attractive in we $X.X and debt of invested integrated XXXX million
We announced year opportunistically continuing investments expenditure which several plants Germany to Geismar, in in capital expansions brought and several to U.S. next PVC over the $XXX have other debottleneck million. full years and the Louisiana previously and VCM our
being plant built the In addition with to start the to these Lotte investments we of in jointly XXXX. expect ethylene of see £X.X also half our up first billion
XX% years. an have venture the in increase to XX% joint interest We our next a over ethylene ownership with option three the to
further additional acquisition of a of our provide business And compound All We integrate chain. recent attractive global of to with opportunities to our will acquisition invest believe value continually is grow continue our they that philosophy. evaluate where these and PVC an we solutions earnings. returns NAKANTM, leading investments example
in forward when use we into to in XXXX and week to those volatility of new ethylene lag finished methodology a demand goods is up six flow start ethane prices and crude affect income. Due oil between through as look there partially ethane FIFO expect capacity. offset which typically our facilities fractionation the As to costs we when production reflect will from the is be the feedstock see will four new purchased of and by continued our
price cost As on the $X change in quarter a gallon a approximately million for per $X.XX ethane reference have impact would the of quarter. per
if for our remain LIFO resulting natural the on the the first at price for noted we of than fuel gas a $XX quarter As estimate to the will remainder the million to impact If curve first forward gas quarter run FIFO quarter in up the FIFO of a quarter first of headwind in the fourth approximately higher reported basis. to costs earlier $X.XX XXXX. yesterday's we in lead prices from prices be
per a the Mcf $X.XX on approximately in change would gas cost impact quarter per a quarter. of for have $X.X reference million As price the
over back like would call some provide for the I your modeling turning to Albert guidance purposes. Before to
complete of the facilities half for our ethylene to XXXX The duration on line opportunities regarding planning. XXXX in is of and we our We we expenditures, and impact later in the will and on turnaround we scheduled more to the our the one turnaround as maintenance in debottleneck vinyl work activities be capital continue as the provide with expansion earnings of and segment. first next year information expect
around be comments. tax effective now will our and XX%. remain cash expect Albert the over turn that to to tax back We Albert. I to around call make With closing our to XX% some rate
