10-Q Filing

VALERO ENERGY CORP/TX CIK: 1035002 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001035002-16-000087`
Period End Date	20160331
Filing Date	20160505
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	vlo-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 42 Cash Flow Statement 50 Comprehensive Income 18

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value (in usd per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in usd per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and temporary cash investments	`CashAndCashEquivalentsAtCarryingValue`	$4.87B	USD	Point-in-time
Cash and temporary cash investments	`CashAndCashEquivalentsAtCarryingValue`	$3.78B	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	1.20B	shares	Point-in-time
Cash and temporary cash investments	`CashAndCashEquivalentsAtCarryingValue`	$3.69B	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	1.20B	shares	Point-in-time
Cash and temporary cash investments	`CashAndCashEquivalentsAtCarryingValue`	$4.11B	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	673.50M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	673.50M	shares	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$4.52B	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$4.46B	USD	Point-in-time
Inventories	`InventoryNet`	$6.06B	USD	Point-in-time
Treasury stock, common shares	`TreasuryStockShares`	203.71M	shares	Point-in-time
Inventories	`InventoryNet`	$5.90B	USD	Point-in-time
Treasury stock, common shares	`TreasuryStockShares`	200.46M	shares	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$174.00M	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$218.00M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$204.00M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$335.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$14.86B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$14.90B	USD	Point-in-time
Property, plant, and equipment, at cost	`PropertyPlantAndEquipmentGross`	$37.27B	USD	Point-in-time
Property, plant, and equipment, at cost	`PropertyPlantAndEquipmentGross`	$36.91B	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$10.20B	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$10.53B	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$26.75B	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$26.70B	USD	Point-in-time
Deferred charges and other assets, net	`OtherAssetsNoncurrent`	$2.63B	USD	Point-in-time
Deferred charges and other assets, net	`OtherAssetsNoncurrent`	$2.65B	USD	Point-in-time
Total assets	`Assets`	$44.23B	USD	Point-in-time
Total assets	`Assets`	$44.26B	USD	Point-in-time
Current portion of debt and capital lease obligations	`DebtCurrent`	$127.00M	USD	Point-in-time
Current portion of debt and capital lease obligations	`DebtCurrent`	$128.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.98B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.91B	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$416.00M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$554.00M	USD	Point-in-time
Taxes other than income taxes	`SalesAndExciseTaxPayableCurrent`	$1.07B	USD	Point-in-time
Taxes other than income taxes	`SalesAndExciseTaxPayableCurrent`	$957.00M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$294.00M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$337.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.99B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.78B	USD	Point-in-time
Debt and capital lease obligations, less current portion	`LongTermDebtAndCapitalLeaseObligations`	$7.21B	USD	Point-in-time
Debt and capital lease obligations, less current portion	`LongTermDebtAndCapitalLeaseObligations`	$7.21B	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$7.06B	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$7.19B	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$1.61B	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$1.59B	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.01 par value; 1,200,000,000 shares authorized; 673,501,593 and 673,501,593 shares issued	`CommonStockValue`	$7.00M	USD	Point-in-time
Common stock, $0.01 par value; 1,200,000,000 shares authorized; 673,501,593 and 673,501,593 shares issued	`CommonStockValue`	$7.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$7.06B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$7.06B	USD	Point-in-time
Treasury stock, at cost; 203,711,810 and 200,462,208 common shares	`TreasuryStockValue`	$11.01B	USD	Point-in-time
Treasury stock, at cost; 203,711,810 and 200,462,208 common shares	`TreasuryStockValue`	$10.80B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$25.40B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$25.19B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-802.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-933.00M	USD	Point-in-time
Total Valero Energy Corporation stockholders equity	`StockholdersEquity`	$20.53B	USD	Point-in-time
Total Valero Energy Corporation stockholders equity	`StockholdersEquity`	$20.66B	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$839.00M	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$827.00M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$21.24B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$21.34B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$21.50B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$21.35B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$44.23B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$44.26B	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Includes excise taxes on sales by certain of our international operations	`ExciseAndSalesTaxes`	$1.40B	USD	1 Quarter
Includes excise taxes on sales by certain of our international operations	`ExciseAndSalesTaxes`	$1.43B	USD	1 Quarter
Operating revenues (a)	`RefiningAndMarketingRevenue`	$15.71B	USD	1 Quarter
Operating revenues (a)	`RefiningAndMarketingRevenue`	$21.33B	USD	1 Quarter
Cost of sales (excluding the lower of cost or market inventory valuation adjustment)	`RefiningAndMarketingCosts`	$18.16B	USD	1 Quarter
Cost of sales (excluding the lower of cost or market inventory valuation adjustment)	`RefiningAndMarketingCosts`	$13.51B	USD	1 Quarter
Lower of cost or market inventory valuation adjustment	`InventoryWriteDown`	$-293.00M	USD	1 Quarter
Lower of cost or market inventory valuation adjustment	`InventoryWriteDown`	-	USD	1 Quarter
Operating expenses	`OperatingCostsAndExpenses`	$1.03B	USD	1 Quarter
Operating expenses	`OperatingCostsAndExpenses`	$1.08B	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$147.00M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$156.00M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$441.00M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$485.00M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$19.84B	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$14.88B	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$1.50B	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$829.00M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$9.00M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$24.00M	USD	1 Quarter
Interest and debt expense, net of capitalized interest	`InterestExpense`	$101.00M	USD	1 Quarter
Interest and debt expense, net of capitalized interest	`InterestExpense`	$108.00M	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.42B	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$730.00M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$217.00M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$450.00M	USD	1 Quarter
Net income	`ProfitLoss`	$968.00M	USD	1 Quarter
Net income	`ProfitLoss`	$513.00M	USD	1 Quarter
Less: Net income attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$18.00M	USD	1 Quarter
Less: Net income attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$4.00M	USD	1 Quarter
Net income attributable to Valero Energy Corporation stockholders	`NetIncomeLoss`	$495.00M	USD	1 Quarter
Net income attributable to Valero Energy Corporation stockholders	`NetIncomeLoss`	$964.00M	USD	1 Quarter
Earnings per common share	`EarningsPerShareBasic`	$1.05	USD	1 Quarter
Earnings per common share	`EarningsPerShareBasic`	$1.87	USD	1 Quarter
Weighted-average common shares outstanding (in millions)	`WeightedAverageNumberOfSharesOutstandingBasic`	469.00M	shares	1 Quarter
Weighted-average common shares outstanding (in millions)	`WeightedAverageNumberOfSharesOutstandingBasic`	513.00M	shares	1 Quarter
Earnings per common share assuming dilution	`EarningsPerShareDiluted`	$1.05	USD	1 Quarter
Earnings per common share assuming dilution	`EarningsPerShareDiluted`	$1.87	USD	1 Quarter
Weighted-average common shares outstanding assuming dilution (in millions)	`WeightedAverageNumberOfDilutedSharesOutstanding`	471.00M	shares	1 Quarter
Weighted-average common shares outstanding assuming dilution (in millions)	`WeightedAverageNumberOfDilutedSharesOutstanding`	516.00M	shares	1 Quarter
Dividends per common share	`CommonStockDividendsPerShareCashPaid`	$0.40	USD	1 Quarter
Dividends per common share	`CommonStockDividendsPerShareCashPaid`	$0.60	USD	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$968.00M	USD	1 Quarter
Net income	`ProfitLoss`	$513.00M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$441.00M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$485.00M	USD	1 Quarter
Lower of cost or market inventory valuation adjustment	`InventoryWriteDown`	$-293.00M	USD	1 Quarter
Lower of cost or market inventory valuation adjustment	`InventoryWriteDown`	-	USD	1 Quarter
Deferred income tax expense (benefit)	`DeferredIncomeTaxesAndTaxCredits`	$-61.00M	USD	1 Quarter
Deferred income tax expense (benefit)	`DeferredIncomeTaxesAndTaxCredits`	$121.00M	USD	1 Quarter
Changes in current assets and current liabilities	`IncreaseDecreaseInOtherCurrentAssetsAndLiabilitiesNet`	$-57.00M	USD	1 Quarter
Changes in current assets and current liabilities	`IncreaseDecreaseInOtherCurrentAssetsAndLiabilitiesNet`	$177.00M	USD	1 Quarter
Changes in deferred charges and credits and other operating activities, net	`IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet`	$-28.00M	USD	1 Quarter
Changes in deferred charges and credits and other operating activities, net	`IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet`	$9.00M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.43B	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$640.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$458.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$316.00M	USD	1 Quarter
Deferred turnaround and catalyst costs	`PaymentsForCapitalImprovements`	$240.00M	USD	1 Quarter
Deferred turnaround and catalyst costs	`PaymentsForCapitalImprovements`	$161.00M	USD	1 Quarter
Other investing activities, net	`PaymentsForProceedsFromOtherInvestingActivities`	$4.00M	USD	1 Quarter
Other investing activities, net	`PaymentsForProceedsFromOtherInvestingActivities`	$15.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-481.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-713.00M	USD	1 Quarter
Proceeds from debt issuances or borrowings	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	1 Quarter
Proceeds from debt issuances or borrowings	`ProceedsFromIssuanceOfLongTermDebt`	$1.45B	USD	1 Quarter
Repayments of debt and capital lease obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$3.00M	USD	1 Quarter
Repayments of debt and capital lease obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$403.00M	USD	1 Quarter
Proceeds from the exercise of stock options	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$3.00M	USD	1 Quarter
Proceeds from the exercise of stock options	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$15.00M	USD	1 Quarter
Purchase of common stock for treasury	`PaymentsForRepurchaseOfCommonStock`	$265.00M	USD	1 Quarter
Purchase of common stock for treasury	`PaymentsForRepurchaseOfCommonStock`	$325.00M	USD	1 Quarter
Common stock dividends	`PaymentsOfDividendsCommonStock`	$206.00M	USD	1 Quarter
Common stock dividends	`PaymentsOfDividendsCommonStock`	$282.00M	USD	1 Quarter
Distributions to noncontrolling interests (public unitholders) of Valero Energy Partners LP	`PaymentsOfDividendsMinorityInterest`	$7.00M	USD	1 Quarter
Distributions to noncontrolling interests (public unitholders) of Valero Energy Partners LP	`PaymentsOfDividendsMinorityInterest`	$5.00M	USD	1 Quarter
Other financing activities, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$10.00M	USD	1 Quarter
Other financing activities, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$4.00M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-544.00M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$526.00M	USD	1 Quarter
Effect of foreign exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-65.00M	USD	1 Quarter
Effect of foreign exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$49.00M	USD	1 Quarter
Net increase (decrease) in cash and temporary cash investments	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.18B	USD	1 Quarter
Net increase (decrease) in cash and temporary cash investments	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-336.00M	USD	1 Quarter
Cash and temporary cash investments at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.87B	USD	Point-in-time
Cash and temporary cash investments at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.78B	USD	Point-in-time
Cash and temporary cash investments at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.69B	USD	Point-in-time
Cash and temporary cash investments at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.11B	USD	Point-in-time
Cash and temporary cash investments at end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.87B	USD	Point-in-time
Cash and temporary cash investments at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.78B	USD	Point-in-time
Cash and temporary cash investments at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.69B	USD	Point-in-time
Cash and temporary cash investments at end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.11B	USD	Point-in-time

Comprehensive Income 18 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$968.00M	USD	1 Quarter
Net income	`ProfitLoss`	$513.00M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax`	$-366.00M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax`	$122.00M	USD	1 Quarter
Net gain on pension and other postretirement benefits	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax`	$-5.00M	USD	1 Quarter
Net gain on pension and other postretirement benefits	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax`	$-3.00M	USD	1 Quarter
Other comprehensive income (loss) before income tax expense (benefit)	`OtherComprehensiveIncomeLossBeforeTax`	$-361.00M	USD	1 Quarter
Other comprehensive income (loss) before income tax expense (benefit)	`OtherComprehensiveIncomeLossBeforeTax`	$125.00M	USD	1 Quarter
Income tax expense (benefit) related to items of other comprehensive income (loss)	`OtherComprehensiveIncomeLossTax`	$2.00M	USD	1 Quarter
Income tax expense (benefit) related to items of other comprehensive income (loss)	`OtherComprehensiveIncomeLossTax`	$-7.00M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$132.00M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-363.00M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$645.00M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$605.00M	USD	1 Quarter
Less: Comprehensive income attributable to noncontrolling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$19.00M	USD	1 Quarter
Less: Comprehensive income attributable to noncontrolling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$4.00M	USD	1 Quarter
Comprehensive income attributable to Valero Energy Corporation stockholders	`ComprehensiveIncomeNetOfTax`	$626.00M	USD	1 Quarter
Comprehensive income attributable to Valero Energy Corporation stockholders	`ComprehensiveIncomeNetOfTax`	$601.00M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.