$VLO
VALERO ENERGY CORP/TX

2014 Q2 Form 10-Q Financial Statement

#000103500214000052 Filed on August 07, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2013 Q2
Revenue $34.91B $34.03B
YoY Change 2.59% -1.81%
Cost Of Revenue $32.58B $31.93B
YoY Change 2.04% -0.25%
Gross Profit $2.336B $2.108B
YoY Change 10.82% -20.6%
Gross Profit Margin 6.69% 6.19%
Selling, General & Admin $170.0M $290.0M
YoY Change -41.38% -14.96%
% of Gross Profit 7.28% 13.76%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $414.0M $405.0M
YoY Change 2.22% 4.92%
% of Gross Profit 17.72% 19.21%
Operating Expenses $170.0M $290.0M
YoY Change -41.38% -14.96%
Operating Profit $1.085B $805.0M
YoY Change 34.78% -40.85%
Interest Expense $98.00M $78.00M
YoY Change 25.64% 5.41%
% of Operating Profit 9.03% 9.69%
Other Income/Expense, Net $12.00M $11.00M
YoY Change 9.09% -320.0%
Pretax Income $999.0M $738.0M
YoY Change 35.37% -42.43%
Income Tax $343.0M $276.0M
% Of Pretax Income 34.33% 37.4%
Net Earnings $588.0M $466.0M
YoY Change 26.18% -43.92%
Net Earnings / Revenue 1.68% 1.37%
Basic Earnings Per Share $1.11 $0.86
Diluted Earnings Per Share $1.10 $0.85
COMMON SHARES
Basic Shares Outstanding 529.0M shares 543.0M shares
Diluted Shares Outstanding 534.0M shares 548.0M shares

Balance Sheet

Concept 2014 Q2 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.480B $2.398B
YoY Change 45.12% 85.17%
Cash & Equivalents $3.480B $2.398B
Short-Term Investments
Other Short-Term Assets $399.0M $382.0M
YoY Change 4.45% -0.52%
Inventory $6.526B $6.446B
Prepaid Expenses
Receivables $7.952B $7.486B
Other Receivables $93.00M $56.00M
Total Short-Term Assets $18.45B $16.77B
YoY Change 10.03% 19.49%
LONG-TERM ASSETS
Property, Plant & Equipment $26.12B $25.39B
YoY Change 2.9% -0.53%
Goodwill
YoY Change
Intangibles $159.0M
YoY Change -27.06%
Long-Term Investments $114.0M
YoY Change
Other Assets $2.441B $1.864B
YoY Change 30.95% 31.64%
Total Long-Term Assets $28.56B $27.41B
YoY Change 4.21% 0.94%
TOTAL ASSETS
Total Short-Term Assets $18.45B $16.77B
Total Long-Term Assets $28.56B $27.41B
Total Assets $47.01B $44.18B
YoY Change 6.42% 7.26%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.355B $9.507B
YoY Change -1.6% 18.87%
Accrued Expenses $584.0M $504.0M
YoY Change 15.87% -4.36%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $601.0M $303.0M
YoY Change 98.35% -47.94%
Total Short-Term Liabilities $12.52B $12.04B
YoY Change 4.05% 11.46%
LONG-TERM LIABILITIES
Long-Term Debt $5.784B $6.261B
YoY Change -7.62% -3.08%
Other Long-Term Liabilities $1.327B $1.697B
YoY Change -21.8% -10.5%
Total Long-Term Liabilities $1.327B $1.697B
YoY Change -21.8% -10.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $12.52B $12.04B
Total Long-Term Liabilities $1.327B $1.697B
Total Liabilities $13.85B $13.73B
YoY Change 0.86% 8.18%
SHAREHOLDERS EQUITY
Retained Earnings $20.12B $17.59B
YoY Change 14.36% 13.2%
Common Stock $7.139B $7.244B
YoY Change -1.45% -3.21%
Preferred Stock
YoY Change
Treasury Stock (at cost) $7.474B $6.818B
YoY Change 9.62% 3.81%
Treasury Stock Shares 143.6M shares 131.4M shares
Shareholders Equity $20.21B $17.92B
YoY Change
Total Liabilities & Shareholders Equity $47.01B $44.18B
YoY Change 6.42% 7.26%

Cashflow Statement

Concept 2014 Q2 2013 Q2
OPERATING ACTIVITIES
Net Income $588.0M $466.0M
YoY Change 26.18% -43.92%
Depreciation, Depletion And Amortization $414.0M $405.0M
YoY Change 2.22% 4.92%
Cash From Operating Activities $1.134B $1.265B
YoY Change -10.36% -1.94%
INVESTING ACTIVITIES
Capital Expenditures -$566.0M -$634.0M
YoY Change -10.73% -8.65%
Acquisitions
YoY Change
Other Investing Activities -$242.0M -$189.0M
YoY Change 28.04% 9.25%
Cash From Investing Activities -$808.0M -$823.0M
YoY Change -1.82% -5.07%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -515.0M 109.0M
YoY Change -572.48% -116.22%
NET CHANGE
Cash From Operating Activities 1.134B 1.265B
Cash From Investing Activities -808.0M -823.0M
Cash From Financing Activities -515.0M 109.0M
Net Change In Cash -189.0M 551.0M
YoY Change -134.3% -321.29%
FREE CASH FLOW
Cash From Operating Activities $1.134B $1.265B
Capital Expenditures -$566.0M -$634.0M
Free Cash Flow $1.700B $1.899B
YoY Change -10.48% -4.28%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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us-gaap Basis Of Accounting
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:14px;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Basis of Presentation</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">As used in this report, the terms &#8220;Valero,&#8221; &#8220;we,&#8221; &#8220;us,&#8221; or &#8220;our&#8221; may refer to Valero Energy Corporation, one or more of its consolidated subsidiaries, or all of them taken as a whole.</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">These unaudited financial statements have been prepared in accordance with United States (U.S.) generally accepted accounting principles (GAAP)&#160;for interim financial information and with the instructions to Form&#160;10-Q and Article&#160;10 of Regulation&#160;S-X of the Securities Exchange Act of 1934. Accordingly, they do not include all of the information and notes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. All such adjustments are of a normal recurring nature unless disclosed otherwise. Financial information for the three and </font><font style="font-family:inherit;font-size:11pt;color:#000000;text-decoration:none;">six</font><font style="font-family:inherit;font-size:11pt;"> months ended </font><font style="font-family:inherit;font-size:11pt;color:#000000;text-decoration:none;">June&#160;30, 2014</font><font style="font-family:inherit;font-size:11pt;"> and </font><font style="font-family:inherit;font-size:11pt;color:#000000;text-decoration:none;">2013</font><font style="font-family:inherit;font-size:11pt;"> included in these Condensed Notes to Consolidated Financial Statements is derived from our unaudited financial statements. Operating results for the three and </font><font style="font-family:inherit;font-size:11pt;color:#000000;text-decoration:none;">six</font><font style="font-family:inherit;font-size:11pt;"> months ended </font><font style="font-family:inherit;font-size:11pt;color:#000000;text-decoration:none;">June&#160;30, 2014</font><font style="font-family:inherit;font-size:11pt;"> are not necessarily indicative of the results that may be expected for the year ending December&#160;31, 2014.</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">The balance sheet as of </font><font style="font-family:inherit;font-size:11pt;color:#000000;text-decoration:none;">December&#160;31, 2013</font><font style="font-family:inherit;font-size:11pt;"> has been derived from our audited financial statements as of that date. For further information, refer to our financial statements and notes thereto included in our annual report on Form 10-K for the year ended </font><font style="font-family:inherit;font-size:11pt;color:#000000;text-decoration:none;">December&#160;31, 2013</font><font style="font-family:inherit;font-size:11pt;">.</font></div></div>
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Interest Expense
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us-gaap Interest Expense
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us-gaap Other Comprehensive Income Foreign Currency Translation Gain Loss Arising During Period Tax
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us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
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us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
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us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Before Tax
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
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us-gaap Payments For Capital Improvements
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us-gaap Payments For Capital Improvements
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us-gaap Payments For Repurchase Of Common Stock
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220000000 USD
us-gaap Payments Of Dividends Minority Interest
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0 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1211000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
954000000 USD
CY2013Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
138000000 USD
CY2014Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
124000000 USD
us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
550000000 USD
us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
0 USD
us-gaap Proceeds From Divestiture Of Interest In Consolidated Subsidiaries
ProceedsFromDivestitureOfInterestInConsolidatedSubsidiaries
500000000 USD
us-gaap Proceeds From Divestiture Of Interest In Consolidated Subsidiaries
ProceedsFromDivestitureOfInterestInConsolidatedSubsidiaries
0 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
32000000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
43000000 USD
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
45000000 USD
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
14000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
24000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
52000000 USD
CY2013Q2 us-gaap Profit Loss
ProfitLoss
465000000 USD
us-gaap Profit Loss
ProfitLoss
1117000000 USD
us-gaap Profit Loss
ProfitLoss
1429000000 USD
CY2014Q2 us-gaap Profit Loss
ProfitLoss
593000000 USD
CY2013Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
33933000000 USD
CY2014Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
34870000000 USD
CY2014Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
26122000000 USD
CY2013Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
25707000000 USD
CY2013Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
8751000000 USD
CY2014Q2 us-gaap Receivables Net Current
ReceivablesNetCurrent
7952000000 USD
us-gaap Reclassifications
Reclassifications
<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;">Reclassification</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">As discussed in </font><font style="font-family:Times New Roman;font-size:11pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">Note 3</font><font style="font-family:inherit;font-size:11pt;">, in May 2014, we abandoned the Aruba Refinery. As a result, the refinery&#8217;s results of operations have been presented as discontinued operations in the consolidated statements of income for all periods presented.</font></div><div style="line-height:120%;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br clear="none"/></font></div></div>
us-gaap Refining And Marketing Costs
RefiningAndMarketingCosts
62797000000 USD
us-gaap Refining And Marketing Costs
RefiningAndMarketingCosts
62208000000 USD
CY2013Q2 us-gaap Refining And Marketing Costs
RefiningAndMarketingCosts
31523000000 USD
CY2014Q2 us-gaap Refining And Marketing Costs
RefiningAndMarketingCosts
32167000000 USD
CY2013Q2 us-gaap Refining And Marketing Revenue
RefiningAndMarketingRevenue
34034000000 USD
CY2014Q2 us-gaap Refining And Marketing Revenue
RefiningAndMarketingRevenue
34914000000 USD
us-gaap Refining And Marketing Revenue
RefiningAndMarketingRevenue
67508000000 USD
us-gaap Refining And Marketing Revenue
RefiningAndMarketingRevenue
68577000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
480000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
200000000 USD
CY2014Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
20120000000 USD
CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
18970000000 USD
us-gaap Selling Expense
SellingExpense
226000000 USD
CY2014Q2 us-gaap Selling Expense
SellingExpense
0 USD
CY2013Q2 us-gaap Selling Expense
SellingExpense
57000000 USD
us-gaap Selling Expense
SellingExpense
0 USD
us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
32000000 USD
us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
43000000 USD
CY2014Q2 us-gaap Stockholders Equity
StockholdersEquity
20211000000 USD
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
19460000000 USD
CY2014Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
20720000000 USD
CY2013Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
19946000000 USD
CY2013Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
18025000000 USD
CY2012Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
18095000000 USD
us-gaap Stockholders Equity Note Spinoff Transaction
StockholdersEquityNoteSpinoffTransaction
-499000000 USD
us-gaap Stockholders Equity Note Spinoff Transaction
StockholdersEquityNoteSpinoffTransaction
0 USD
CY2014Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
143579323 shares
CY2013Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
137932138 shares
CY2013Q4 us-gaap Treasury Stock Value
TreasuryStockValue
7054000000 USD
CY2014Q2 us-gaap Treasury Stock Value
TreasuryStockValue
7474000000 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 style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br clear="none"/></font></div></div>
CY2014Q2 us-gaap Weighted Average Cost Inventory Amount
WeightedAverageCostInventoryAmount
914000000 USD
CY2013Q4 us-gaap Weighted Average Cost Inventory Amount
WeightedAverageCostInventoryAmount
851000000 USD
CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
534000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
535000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
552000000 shares
CY2013Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
548000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
546000000 shares
CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
529000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
530000000 shares
CY2013Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
543000000 shares
CY2013Q4 vlo Accrual For Taxes Other Than Income Taxes Including Ad Valorem Excise Sales And Use And Payroll
AccrualForTaxesOtherThanIncomeTaxesIncludingAdValoremExciseSalesAndUseAndPayroll
1345000000 USD
CY2014Q2 vlo Accrual For Taxes Other Than Income Taxes Including Ad Valorem Excise Sales And Use And Payroll
AccrualForTaxesOtherThanIncomeTaxesIncludingAdValoremExciseSalesAndUseAndPayroll
1286000000 USD
vlo Comprehensive Income Loss Pensionand Other Postretirement Benefit Plans Effectof Plan Amendmenton Net Prior Service Creditand Net Unamortized Gain Arising During Period Netof Tax
ComprehensiveIncomeLossPensionandOtherPostretirementBenefitPlansEffectofPlanAmendmentonNetPriorServiceCreditandNetUnamortizedGainArisingDuringPeriodNetofTax
213000000 USD
vlo Comprehensive Income Loss Pensionand Other Postretirement Benefit Plans Effectof Plan Amendmenton Net Prior Service Creditand Net Unamortized Gain Arising During Period Netof Tax
ComprehensiveIncomeLossPensionandOtherPostretirementBenefitPlansEffectofPlanAmendmentonNetPriorServiceCreditandNetUnamortizedGainArisingDuringPeriodNetofTax
0 USD
vlo Comprehensive Income Loss Pensionand Other Postretirement Benefit Plans Effectof Plan Amendmenton Net Prior Service Creditand Net Unamortized Gain Arising During Period Tax
ComprehensiveIncomeLossPensionandOtherPostretirementBenefitPlansEffectofPlanAmendmentonNetPriorServiceCreditandNetUnamortizedGainArisingDuringPeriodTax
115000000 USD
vlo Comprehensive Income Loss Pensionand Other Postretirement Benefit Plans Effectof Plan Amendmenton Net Prior Service Creditand Net Unamortized Gain Arising During Period Tax
ComprehensiveIncomeLossPensionandOtherPostretirementBenefitPlansEffectofPlanAmendmentonNetPriorServiceCreditandNetUnamortizedGainArisingDuringPeriodTax
0 USD
CY2013Q4 vlo Ethanol Feedstocks And Products
EthanolFeedstocksAndProducts
166000000 USD
CY2014Q2 vlo Ethanol Feedstocks And Products
EthanolFeedstocksAndProducts
182000000 USD
vlo Ethanol Operating Costs And Expenses
EthanolOperatingCostsAndExpenses
240000000 USD
vlo Ethanol Operating Costs And Expenses
EthanolOperatingCostsAndExpenses
179000000 USD
CY2014Q2 vlo Ethanol Operating Costs And Expenses
EthanolOperatingCostsAndExpenses
111000000 USD
CY2013Q2 vlo Ethanol Operating Costs And Expenses
EthanolOperatingCostsAndExpenses
102000000 USD
vlo Other Comprehensive Income Loss Pensionand Other Postretirement Benefit Plans Effectof Plan Amendmenton Net Prior Service Creditand Net Unamortized Gain Arising During Periodbefore Tax
OtherComprehensiveIncomeLossPensionandOtherPostretirementBenefitPlansEffectofPlanAmendmentonNetPriorServiceCreditandNetUnamortizedGainArisingDuringPeriodbeforeTax
328000000 USD
vlo Other Comprehensive Income Loss Pensionand Other Postretirement Benefit Plans Effectof Plan Amendmenton Net Prior Service Creditand Net Unamortized Gain Arising During Periodbefore Tax
OtherComprehensiveIncomeLossPensionandOtherPostretirementBenefitPlansEffectofPlanAmendmentonNetPriorServiceCreditandNetUnamortizedGainArisingDuringPeriodbeforeTax
0 USD
vlo Refining Operating Costs And Expenses
RefiningOperatingCostsAndExpenses
1788000000 USD
CY2014Q2 vlo Refining Operating Costs And Expenses
RefiningOperatingCostsAndExpenses
967000000 USD
vlo Refining Operating Costs And Expenses
RefiningOperatingCostsAndExpenses
1939000000 USD
CY2013Q2 vlo Refining Operating Costs And Expenses
RefiningOperatingCostsAndExpenses
909000000 USD
vlo Treasury Stock Purchasedbut Notyet Settled
TreasuryStockPurchasedbutNotyetSettled
104000000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Period End Date
DocumentPeriodEndDate
2014-06-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001035002
CY2014Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
527963334 shares
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
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

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