$VLO
VALERO ENERGY CORP/TX

2012 Q4 Form 10-Q Financial Statement

#000103500212000059 Filed on November 06, 2012

View on sec.gov

Income Statement

Concept 2012 Q4 2012 Q3 2011 Q3
Revenue $34.70B $34.73B $33.71B
YoY Change 0.06% 3.0% 60.42%
Cost Of Revenue $31.70B $31.71B $30.42B
YoY Change -4.31% 4.24% 57.89%
Gross Profit $2.993B $3.012B $3.290B
YoY Change 94.1% -8.45% 88.32%
Gross Profit Margin 8.63% 8.67% 9.76%
Selling, General & Admin $189.0M $352.0M $338.0M
YoY Change 46.51% 4.14% 9.74%
% of Gross Profit 6.31% 11.69% 10.27%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $402.0M $402.0M $390.0M
YoY Change 2.29% 3.08% 10.48%
% of Gross Profit 13.43% 13.35% 11.85%
Operating Expenses $1.351B $352.0M $338.0M
YoY Change -1.75% 4.14% 9.74%
Operating Profit $1.584B $1.309B $1.979B
YoY Change 848.5% -33.86% 235.42%
Interest Expense -$70.00M $70.00M -$88.00M
YoY Change -21.35% -179.55% -26.05%
% of Operating Profit -4.42% 5.35% -4.45%
Other Income/Expense, Net $10.00M -$2.000M $1.000M
YoY Change -33.33% -300.0% -94.12%
Pretax Income $1.524B $1.237B $1.892B
YoY Change 1538.71% -34.62% 287.7%
Income Tax $515.0M $564.0M $689.0M
% Of Pretax Income 33.79% 45.59% 36.42%
Net Earnings $1.010B $674.0M $1.203B
YoY Change 2144.44% -43.97% 311.99%
Net Earnings / Revenue 2.91% 1.94% 3.57%
Basic Earnings Per Share $1.22 $2.12
Diluted Earnings Per Share $1.82 $1.21 $2.11
COMMON SHARES
Basic Shares Outstanding 553.5M shares 549.0M shares 564.0M shares
Diluted Shares Outstanding 556.0M shares 569.0M shares

Balance Sheet

Concept 2012 Q4 2012 Q3 2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.723B $2.549B $2.829B
YoY Change 68.26% -9.9% 20.28%
Cash & Equivalents $1.723B $2.549B $2.829B
Short-Term Investments
Other Short-Term Assets $428.0M $440.0M $363.0M
YoY Change 5.16% 21.21% -4.72%
Inventory $5.973B $5.787B $5.164B
Prepaid Expenses
Receivables $8.167B $7.451B $7.509B
Other Receivables $169.0M $40.00M $5.000M
Total Short-Term Assets $16.46B $16.27B $15.87B
YoY Change 3.06% 2.5% 33.62%
LONG-TERM ASSETS
Property, Plant & Equipment $26.30B $25.87B $24.22B
YoY Change 4.46% 6.83% 2.67%
Goodwill
YoY Change
Intangibles $213.0M $216.0M $251.0M
YoY Change -6.17% -13.94%
Long-Term Investments $0.00
YoY Change
Other Assets $1.504B $1.436B $1.343B
YoY Change 6.89% 6.92% -15.27%
Total Long-Term Assets $28.02B $27.53B $25.81B
YoY Change 4.5% 6.63% 1.63%
TOTAL ASSETS
Total Short-Term Assets $16.46B $16.27B $15.87B
Total Long-Term Assets $28.02B $27.53B $25.81B
Total Assets $44.48B $43.79B $41.68B
YoY Change 3.96% 5.06% 11.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.348B $9.286B $8.520B
YoY Change -1.31% 8.99% 39.76%
Accrued Expenses $590.0M $612.0M $785.0M
YoY Change -0.84% -22.04% -29.22%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $586.0M $585.0M $867.0M
YoY Change -41.92% -32.53% 65.77%
Total Short-Term Liabilities $11.93B $12.25B $11.68B
YoY Change -6.13% 4.86% 42.25%
LONG-TERM LIABILITIES
Long-Term Debt $6.463B $6.463B $6.781B
YoY Change -4.0% -4.69% -9.74%
Other Long-Term Liabilities $2.130B $1.934B $1.607B
YoY Change 13.24% 20.35% -6.57%
Total Long-Term Liabilities $2.130B $1.934B $1.607B
YoY Change 13.24% 20.35% -82.6%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.93B $12.25B $11.68B
Total Long-Term Liabilities $2.130B $1.934B $1.607B
Total Liabilities $14.06B $14.19B $13.29B
YoY Change -3.63% 6.73% -39.25%
SHAREHOLDERS EQUITY
Retained Earnings $17.03B $16.12B $15.35B
YoY Change 11.25% 5.03%
Common Stock $7.329B $7.416B $7.566B
YoY Change -2.19% -1.98%
Preferred Stock
YoY Change
Treasury Stock (at cost) $6.437B $6.455B $6.491B
YoY Change -0.59% -0.55%
Treasury Stock Shares 121.4M shares 120.0M shares 114.9M shares
Shareholders Equity $18.03B $17.33B $16.65B
YoY Change
Total Liabilities & Shareholders Equity $44.48B $43.79B $41.68B
YoY Change 3.96% 5.06% 11.82%

Cashflow Statement

Concept 2012 Q4 2012 Q3 2011 Q3
OPERATING ACTIVITIES
Net Income $1.010B $674.0M $1.203B
YoY Change 2144.44% -43.97% 311.99%
Depreciation, Depletion And Amortization $402.0M $402.0M $390.0M
YoY Change 2.29% 3.08% 10.48%
Cash From Operating Activities $323.0M $2.113B $1.374B
YoY Change -211.38% 53.78% 61.27%
INVESTING ACTIVITIES
Capital Expenditures -$802.0M -$709.0M -$652.0M
YoY Change 9.26% 8.74% 47.85%
Acquisitions
YoY Change
Other Investing Activities -$136.0M -$123.0M -$1.675B
YoY Change -81.7% -92.66% 2558.73%
Cash From Investing Activities -$938.0M -$832.0M -$2.327B
YoY Change -36.49% -64.25% 361.71%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -188.0M -54.00M -273.0M
YoY Change 193.75% -80.22% 875.0%
NET CHANGE
Cash From Operating Activities 323.0M 2.113B 1.374B
Cash From Investing Activities -938.0M -832.0M -2.327B
Cash From Financing Activities -188.0M -54.00M -273.0M
Net Change In Cash -803.0M 1.227B -1.226B
YoY Change -56.14% -200.08% -483.13%
FREE CASH FLOW
Cash From Operating Activities $323.0M $2.113B $1.374B
Capital Expenditures -$802.0M -$709.0M -$652.0M
Free Cash Flow $1.125B $2.822B $2.026B
YoY Change 153.38% 39.29% 56.69%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CY2012Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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us-gaap Adjustment To Additional Paid In Capital Income Tax Effect From Share Based Compensation Net
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us-gaap Adjustment To Additional Paid In Capital Income Tax Effect From Share Based Compensation Net
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us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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us-gaap Noncontrolling Interest Increase From Business Combination
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dei Entity Current Reporting Status
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us-gaap Basis Of Accounting
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us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
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us-gaap Gain Loss From Components Excluded From Assessment Of Fair Value Hedge Effectiveness Net
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us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">New Accounting Pronouncements</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">In December&#160;2011, the provisions of ASC Topic 210, &#8220;Balance Sheet,&#8221; were amended to require an entity to disclose information about offsetting and related arrangements to enable users of its financial statements to understand the effect of these arrangements on its financial position. The guidance requires entities to disclose both gross information and net information about both instruments and transactions eligible for offset in the balance sheet and instruments and transactions subject to an agreement similar to a master netting arrangement. These provisions are effective for interim and annual reporting periods beginning on January&#160;1, 2013. The adoption of this guidance effective January&#160;1, 2013 will not affect our financial position or results of operations, but may result in additional disclosures.</font></div></div>
us-gaap Dividends Common Stock Cash
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us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
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us-gaap Excise And Sales Taxes
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CY2012Q3 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
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CY2011Q3 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
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CY2012Q3 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
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CY2011Q3 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
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us-gaap Gain Loss From Components Excluded From Assessment Of Cash Flow Hedge Effectiveness Net
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us-gaap Gain Loss From Components Excluded From Assessment Of Cash Flow Hedge Effectiveness Net
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us-gaap Gain Loss From Hedged Firm Commitment Not Qualifying As Fair Value Hedge Net
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us-gaap Gain Loss From Hedged Firm Commitment Not Qualifying As Fair Value Hedge Net
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us-gaap Gain Loss On Discontinuation Of Cash Flow Hedge Due To Forecasted Transaction Probable Of Not Occurring Net
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CY2011Q3 us-gaap Gain Loss On Discontinuation Of Cash Flow Hedge Due To Forecasted Transaction Probable Of Not Occurring Net
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us-gaap Gain Loss On Discontinuation Of Cash Flow Hedge Due To Forecasted Transaction Probable Of Not Occurring Net
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us-gaap Profit Loss
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91314000000 USD
CY2012Q3 us-gaap Refining And Marketing Revenue
RefiningAndMarketingRevenue
34726000000 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
1100000000 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
0 USD
us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
0 USD
us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
1650000000 USD
CY2011Q4 us-gaap Treasury Stock Value
TreasuryStockValue
6475000000 USD
us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
718000000 USD
CY2011Q4 us-gaap Retail Related Inventory Merchandise
RetailRelatedInventoryMerchandise
103000000 USD
CY2012Q3 us-gaap Retail Related Inventory Merchandise
RetailRelatedInventoryMerchandise
102000000 USD
CY2012Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
16119000000 USD
CY2011Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
15309000000 USD
us-gaap Revenues From Transactions With Other Operating Segments Of Same Entity
RevenuesFromTransactionsWithOtherOperatingSegmentsOfSameEntity
6881000000 USD
CY2011Q3 us-gaap Revenues From Transactions With Other Operating Segments Of Same Entity
RevenuesFromTransactionsWithOtherOperatingSegmentsOfSameEntity
2283000000 USD
CY2012Q3 us-gaap Revenues From Transactions With Other Operating Segments Of Same Entity
RevenuesFromTransactionsWithOtherOperatingSegmentsOfSameEntity
2363000000 USD
us-gaap Revenues From Transactions With Other Operating Segments Of Same Entity
RevenuesFromTransactionsWithOtherOperatingSegmentsOfSameEntity
6691000000 USD
CY2012Q3 us-gaap Treasury Stock Value
TreasuryStockValue
6455000000 USD
CY2011Q3 us-gaap Selling Expense
SellingExpense
177000000 USD
us-gaap Selling Expense
SellingExpense
514000000 USD
us-gaap Selling Expense
SellingExpense
508000000 USD
CY2012Q3 us-gaap Selling Expense
SellingExpense
178000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
34000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
29000000 USD
us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
36000000 USD
us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
42000000 USD
CY2011Q4 us-gaap Stockholders Equity
StockholdersEquity
16423000000 USD
CY2012Q3 us-gaap Stockholders Equity
StockholdersEquity
17332000000 USD
CY2012Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
17386000000 USD
CY2011Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
16445000000 USD
CY2011Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
16670000000 USD
CY2010Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
15025000000 USD
CY2011Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
116689450 shares
CY2012Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
120035210 shares
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
138000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
270000000 USD
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-indent:24px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">The preparation of financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. On an ongoing basis, we review our estimates based on currently available information. Changes in facts and circumstances may result in revised estimates.</font></div></div>
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
572000000 shares
CY2011Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
569000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
556000000 shares
CY2012Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
556000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
566000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
550000000 shares
CY2012Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
549000000 shares
CY2011Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
564000000 shares
CY2012Q3 vlo Accrual For Taxes Other Than Income Taxes Including Ad Valorem Excise Sales And Use And Payroll
AccrualForTaxesOtherThanIncomeTaxesIncludingAdValoremExciseSalesAndUseAndPayroll
1349000000 USD
CY2011Q4 vlo Accrual For Taxes Other Than Income Taxes Including Ad Valorem Excise Sales And Use And Payroll
AccrualForTaxesOtherThanIncomeTaxesIncludingAdValoremExciseSalesAndUseAndPayroll
1264000000 USD
CY2012Q3 vlo Ethanol Feedstocks And Products
EthanolFeedstocksAndProducts
152000000 USD
CY2011Q4 vlo Ethanol Feedstocks And Products
EthanolFeedstocksAndProducts
195000000 USD
CY2012Q3 vlo Ethanol Operating Costs And Expenses
EthanolOperatingCostsAndExpenses
76000000 USD
vlo Ethanol Operating Costs And Expenses
EthanolOperatingCostsAndExpenses
302000000 USD
CY2011Q3 vlo Ethanol Operating Costs And Expenses
EthanolOperatingCostsAndExpenses
103000000 USD
vlo Ethanol Operating Costs And Expenses
EthanolOperatingCostsAndExpenses
248000000 USD
vlo Refining Operating Costs And Expenses
RefiningOperatingCostsAndExpenses
2427000000 USD
CY2012Q3 vlo Refining Operating Costs And Expenses
RefiningOperatingCostsAndExpenses
930000000 USD
CY2011Q3 vlo Refining Operating Costs And Expenses
RefiningOperatingCostsAndExpenses
870000000 USD
vlo Refining Operating Costs And Expenses
RefiningOperatingCostsAndExpenses
2762000000 USD
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
VALERO ENERGY CORP/TX
dei Entity Voluntary Filers
EntityVoluntaryFilers
No
dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
dei Document Period End Date
DocumentPeriodEndDate
2012-09-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001035002
CY2012Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
553540069 shares

Files In Submission

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