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10-Q Filing

VALERO ENERGY CORP/TX CIK: 1035002 Q1 2017
Filing Information
Form Type 10-Q
Accession Number 0001035002-17-000032
Period End Date 20170331
Filing Date 20170508
Fiscal Year 2017
Fiscal Period Q1
XBRL Instance vlo-20170331.xml
Filing Contents
Balance Sheet 70 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 $3.78B USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 1.20B shares Point-in-time
Cash and temporary cash investments CashAndCashEquivalentsAtCarryingValue $4.46B USD Point-in-time
Cash and temporary cash investments CashAndCashEquivalentsAtCarryingValue $4.11B USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 1.20B shares Point-in-time
Cash and temporary cash investments CashAndCashEquivalentsAtCarryingValue $4.82B USD Point-in-time
Receivables, net ReceivablesNetCurrent $5.90B USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 673.50M shares Point-in-time
Receivables, net ReceivablesNetCurrent $5.10B USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 673.50M shares Point-in-time
Inventories InventoryNet $5.71B USD Point-in-time
Treasury stock, common shares TreasuryStockShares 222.00M shares Point-in-time
Inventories InventoryNet $6.03B USD Point-in-time
Treasury stock, common shares TreasuryStockShares 226.34M shares Point-in-time
Prepaid expenses and other PrepaidExpenseAndOtherAssetsCurrent $316.00M USD Point-in-time
Prepaid expenses and other PrepaidExpenseAndOtherAssetsCurrent $374.00M USD Point-in-time
Total current assets AssetsCurrent $15.91B USD Point-in-time
Total current assets AssetsCurrent $16.80B USD Point-in-time
Property, plant, and equipment, at cost PropertyPlantAndEquipmentGross $38.57B USD Point-in-time
Property, plant, and equipment, at cost PropertyPlantAndEquipmentGross $37.73B USD Point-in-time
Accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $11.26B USD Point-in-time
Accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $11.58B USD Point-in-time
Property, plant, and equipment, net PropertyPlantAndEquipmentNet $26.99B USD Point-in-time
Property, plant, and equipment, net PropertyPlantAndEquipmentNet $26.47B USD Point-in-time
Deferred charges and other assets, net OtherAssetsNoncurrent $2.90B USD Point-in-time
Deferred charges and other assets, net OtherAssetsNoncurrent $3.15B USD Point-in-time
Total assets Assets $46.05B USD Point-in-time
Total assets Assets $46.17B USD Point-in-time
Current portion of debt and capital lease obligations DebtCurrent $115.00M USD Point-in-time
Current portion of debt and capital lease obligations DebtCurrent $120.00M USD Point-in-time
Accounts payable AccountsPayableCurrent $6.04B USD Point-in-time
Accounts payable AccountsPayableCurrent $6.36B USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $707.00M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $694.00M USD Point-in-time
Taxes other than income taxes SalesAndExciseTaxPayableCurrent $1.08B USD Point-in-time
Taxes other than income taxes SalesAndExciseTaxPayableCurrent $971.00M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $78.00M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $64.00M USD Point-in-time
Total current liabilities LiabilitiesCurrent $7.90B USD Point-in-time
Total current liabilities LiabilitiesCurrent $8.33B USD Point-in-time
Debt and capital lease obligations, less current portion LongTermDebtAndCapitalLeaseObligations $8.37B USD Point-in-time
Debt and capital lease obligations, less current portion LongTermDebtAndCapitalLeaseObligations $7.89B USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $7.36B USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $7.20B USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $1.93B USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $1.74B 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 $7.10B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $7.09B USD Point-in-time
Treasury stock, at cost; 226,338,916 and 222,000,024 common shares TreasuryStockValue $12.31B USD Point-in-time
Treasury stock, at cost; 226,338,916 and 222,000,024 common shares TreasuryStockValue $12.03B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $26.37B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $26.37B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-1.33B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-1.41B USD Point-in-time
Total Valero Energy Corporation stockholders equity StockholdersEquity $19.82B USD Point-in-time
Total Valero Energy Corporation stockholders equity StockholdersEquity $20.02B USD Point-in-time
Noncontrolling interests MinorityInterest $830.00M USD Point-in-time
Noncontrolling interests MinorityInterest $826.00M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $20.85B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $21.35B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $20.65B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $21.50B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $46.17B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $46.05B 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 $1.27B USD 1 Quarter
Includes excise taxes on sales by certain of our international operations ExciseAndSalesTaxes $1.40B USD 1 Quarter
Operating revenues (a) RefiningAndMarketingRevenue $15.71B USD 1 Quarter
Operating revenues (a) RefiningAndMarketingRevenue $21.77B USD 1 Quarter
Cost of sales (excluding the lower of cost or market inventory valuation adjustment) RefiningAndMarketingCosts $13.51B USD 1 Quarter
Cost of sales (excluding the lower of cost or market inventory valuation adjustment) RefiningAndMarketingCosts $19.43B 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 $1.12B USD 1 Quarter
General and administrative expenses GeneralAndAdministrativeExpense $156.00M USD 1 Quarter
General and administrative expenses GeneralAndAdministrativeExpense $190.00M USD 1 Quarter
Depreciation and amortization expense DepreciationAmortizationAndAccretionNet $500.00M USD 1 Quarter
Depreciation and amortization expense DepreciationAmortizationAndAccretionNet $485.00M USD 1 Quarter
Total costs and expenses CostsAndExpenses $14.88B USD 1 Quarter
Total costs and expenses CostsAndExpenses $21.23B USD 1 Quarter
Operating income OperatingIncomeLoss $829.00M USD 1 Quarter
Operating income OperatingIncomeLoss $537.00M USD 1 Quarter
Other income, net OtherNonoperatingIncomeExpense $17.00M USD 1 Quarter
Other income, net OtherNonoperatingIncomeExpense $9.00M USD 1 Quarter
Interest and debt expense, net of capitalized interest InterestExpense $121.00M USD 1 Quarter
Interest and debt expense, net of capitalized interest InterestExpense $108.00M USD 1 Quarter
Income before income tax expense IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $730.00M USD 1 Quarter
Income before income tax expense IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $433.00M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $112.00M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $217.00M USD 1 Quarter
Net income ProfitLoss $321.00M USD 1 Quarter
Net income ProfitLoss $513.00M USD 1 Quarter
Less: Net income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $16.00M USD 1 Quarter
Less: Net income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $18.00M USD 1 Quarter
Net income attributable to Valero Energy Corporation stockholders NetIncomeLoss $305.00M USD 1 Quarter
Net income attributable to Valero Energy Corporation stockholders NetIncomeLoss $495.00M USD 1 Quarter
Earnings per common share EarningsPerShareBasic $1.05 USD 1 Quarter
Earnings per common share EarningsPerShareBasic $0.68 USD 1 Quarter
Weighted-average common shares outstanding (in millions) WeightedAverageNumberOfSharesOutstandingBasic 469.00M shares 1 Quarter
Weighted-average common shares outstanding (in millions) WeightedAverageNumberOfSharesOutstandingBasic 448.00M shares 1 Quarter
Earnings per common share assuming dilution EarningsPerShareDiluted $1.05 USD 1 Quarter
Earnings per common share assuming dilution EarningsPerShareDiluted $0.68 USD 1 Quarter
Weighted-average common shares outstanding assuming dilution (in millions) WeightedAverageNumberOfDilutedSharesOutstanding 451.00M shares 1 Quarter
Weighted-average common shares outstanding assuming dilution (in millions) WeightedAverageNumberOfDilutedSharesOutstanding 471.00M shares 1 Quarter
Dividends per common share CommonStockDividendsPerShareCashPaid $0.60 USD 1 Quarter
Dividends per common share CommonStockDividendsPerShareCashPaid $0.70 USD 1 Quarter
Cash Flow Statement 54 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $321.00M USD 1 Quarter
Net income ProfitLoss $513.00M USD 1 Quarter
Depreciation and amortization expense DepreciationAmortizationAndAccretionNet $500.00M USD 1 Quarter
Depreciation and amortization expense DepreciationAmortizationAndAccretionNet $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 $121.00M USD 1 Quarter
Deferred income tax expense (benefit) DeferredIncomeTaxesAndTaxCredits $-4.00M USD 1 Quarter
Changes in current assets and current liabilities IncreaseDecreaseInOtherCurrentAssetsAndLiabilitiesNet $-151.00M 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 $9.00M USD 1 Quarter
Changes in deferred charges and credits and other operating activities, net IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet $-20.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $988.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $640.00M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $279.00M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $316.00M USD 1 Quarter
Deferred turnaround and catalyst costs PaymentsForCapitalImprovements $245.00M USD 1 Quarter
Deferred turnaround and catalyst costs PaymentsForCapitalImprovements $161.00M USD 1 Quarter
Investments in joint ventures PaymentsForProceedsFromInvestments $2.00M USD 1 Quarter
Investments in joint ventures PaymentsForProceedsFromInvestments $117.00M USD 1 Quarter
Acquisition of undivided interest in crude system assets PaymentsToAcquireOilAndGasPropertyAndEquipment - USD 1 Quarter
Acquisition of undivided interest in crude system assets PaymentsToAcquireOilAndGasPropertyAndEquipment $72.00M USD 1 Quarter
Other investing activities, net PaymentsForProceedsFromOtherInvestingActivities $2.00M USD 1 Quarter
Other investing activities, net PaymentsForProceedsFromOtherInvestingActivities $1.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-481.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-714.00M USD 1 Quarter
Repayments of debt and capital lease obligations RepaymentsOfDebtAndCapitalLeaseObligations $5.00M USD 1 Quarter
Repayments of debt and capital lease obligations RepaymentsOfDebtAndCapitalLeaseObligations $3.00M USD 1 Quarter
Purchase of common stock for treasury PaymentsForRepurchaseOfCommonStock $265.00M USD 1 Quarter
Purchase of common stock for treasury PaymentsForRepurchaseOfCommonStock $314.00M USD 1 Quarter
Common stock dividends PaymentsOfDividendsCommonStock $282.00M USD 1 Quarter
Common stock dividends PaymentsOfDividendsCommonStock $315.00M USD 1 Quarter
Proceeds from issuance of Valero Energy Partners LP common units ProceedsFromIssuanceOfCommonLimitedPartnersUnits - USD 1 Quarter
Proceeds from issuance of Valero Energy Partners LP common units ProceedsFromIssuanceOfCommonLimitedPartnersUnits $35.00M 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 $9.00M USD 1 Quarter
Distributions to other noncontrolling interests PaymentsOfDistributionsToAffiliates $25.00M USD 1 Quarter
Distributions to other noncontrolling interests PaymentsOfDistributionsToAffiliates - USD 1 Quarter
Other financing activities, net ProceedsFromPaymentsForOtherFinancingActivities $-19.00M USD 1 Quarter
Other financing activities, net ProceedsFromPaymentsForOtherFinancingActivities $13.00M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-652.00M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-544.00M USD 1 Quarter
Effect of foreign exchange rate changes on cash EffectOfExchangeRateOnCashAndCashEquivalents $25.00M USD 1 Quarter
Effect of foreign exchange rate changes on cash EffectOfExchangeRateOnCashAndCashEquivalents $49.00M USD 1 Quarter
Net decrease in cash and temporary cash investments CashAndCashEquivalentsPeriodIncreaseDecrease $-336.00M USD 1 Quarter
Net decrease in cash and temporary cash investments CashAndCashEquivalentsPeriodIncreaseDecrease $-353.00M USD 1 Quarter
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 $4.46B 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 beginning of period CashAndCashEquivalentsAtCarryingValue $4.82B 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 $4.46B USD Point-in-time
Cash and temporary cash investments at end of period CashAndCashEquivalentsAtCarryingValue $4.11B USD Point-in-time
Cash and temporary cash investments at end of period CashAndCashEquivalentsAtCarryingValue $4.82B USD Point-in-time
Comprehensive Income 18 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $321.00M USD 1 Quarter
Net income ProfitLoss $513.00M USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax $122.00M USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax $74.00M USD 1 Quarter
Net gain on pension and other postretirement benefits OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax $-3.00M USD 1 Quarter
Net gain on pension and other postretirement benefits OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax $-3.00M USD 1 Quarter
Other comprehensive income before income tax expense (benefit) OtherComprehensiveIncomeLossBeforeTax $77.00M USD 1 Quarter
Other comprehensive income before income tax expense (benefit) OtherComprehensiveIncomeLossBeforeTax $125.00M USD 1 Quarter
Income tax expense (benefit) related to items of other comprehensive income OtherComprehensiveIncomeLossTax $-7.00M USD 1 Quarter
Income tax expense (benefit) related to items of other comprehensive income OtherComprehensiveIncomeLossTax $1.00M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $132.00M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $76.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $397.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $645.00M USD 1 Quarter
Less: Comprehensive income attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $19.00M USD 1 Quarter
Less: Comprehensive income attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $16.00M 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 $381.00M USD 1 Quarter

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

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