126 unchanged sentences
We estimate that OpCo will make capital expenditures of approximately $3.5 million in 2024 and $3.6 million in 2025, respectively, related to environmental compliance.
−Removed: Additionally, in 2023 and 2024, capital expenditures of approximately $41.5 million and $9.1 million, respectively, are expected to be paid in connection with corrective actions required by the Environmental Protection Agency (the "EPA") to resolve the flare enforcement matter discussed below.
+Added: Additionally, in 2024, capital expenditures of approximately $1.0 million are expected to be paid by Westlake in connection with corrective actions required by the Environmental Protection Agency (the "EPA") to resolve the flare enforcement matter discussed below.
Pursuant to the Omnibus Agreement, Westlake has paid and will continue to pay for all such corrective actions.
8 unchanged sentences
In June 2022, the Department of Justice announced that certain subsidiaries of Westlake, including OpCo, the EPA and state environmental agencies had reached agreement on a consent decree resolving this matter.
−Removed: The consent decree requires OpCo and other Westlake subsidiaries to install flare gas recovery units, implement fence line monitoring, install and operate flare monitoring and control equipment to meet certain performance standards, and pay a civil penalty of $1 million.
−Removed: Implementation of the requirements under the decree is estimated to cost approximately $110 million, which includes capital expenditures associated with installation of the flare gas recovery units that are required to be installed at our Calvert City and Lake Charles facilities.
−Removed: The capital expenditures and other costs required to comply with the consent decree have either been incurred in 2021 and 2022 or will be incurred over the course of 2023 and 2024.
The consent decree was entered by the court and became effective in October 2022.
+Added: The consent decree requires OpCo and other Westlake subsidiaries to install flare gas recovery units, implement fence line monitoring, install and operate flare monitoring and control equipment to meet certain performance standards, and pay a civil penalty of $1 million.
+Added: We estimate that the total cost to implement the requirements under the decree will be approximately $110 million, which includes capital expenditures associated with installation of the flare gas recovery units and monitoring and control equipment that are required to be installed at our Calvert City and Lake Charles facilities.
+Added: The substantial majority of the capital expenditures and other costs required to comply with the consent decree were incurred in 2021, 2022, or 2023.
Westlake has paid all penalties required under the consent decree and has planned, budgeted for and scheduled all compliance requirements going forward.
2 unchanged sentences
Flash Fire at Petro 2.
−Removed: There are lawsuits pending in connection with the flash fire at the quench tower that occurred in September 2021 during the Petro 2 turnaround, which are described in Note 16 to the consolidated financial statements included in "Item 8.
−Removed: Financial Statements and Supplementary Data" of this Form 10-K.
−Removed: We expect insurance to cover most of the costs associated with these lawsuits.
+Added: In September 2021, Westlake and OpCo were subject to lawsuits related to a flash fire at the quench tower of the Petro 2 facility.
+Added: Contractors and employees working on and near the quench tower were injured.
+Added: Final settlements were reached with all of the plaintiffs to fully resolve the lawsuits by Westlake, but payment by the insurance carriers has not yet been completed.
+Added: Westlake is responsible for indemnifying the Partnership in connection with any loss OpCo may have incurred as a result of the fire.
Also, see the discussion of our environmental matters contained in "Item 1A.
11 unchanged sentences
Legal Proceedings
−Removed: In the ordinary conduct of our business, we and Westlake and our and Westlake's subsidiaries, including OpCo, are subject to periodic lawsuits, investigations and claims, including environmental claims and employee related matters.
+Added: In the ordinary conduct of our business, we and Westlake and our and Westlake's subsidiaries, including OpCo, are subject to lawsuits, investigations and claims, including environmental claims and employee related matters.
Although we cannot predict with certainty the ultimate resolution of lawsuits, investigations and claims asserted against us, we do not believe that any currently pending legal proceeding or proceedings to which we or Westlake or any of our or Westlake's subsidiaries, including OpCo, are a party will have a material adverse effect on our business, results of operations, cash flows or financial condition.
9 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.