$VLO
VALERO ENERGY CORP/TX

2020 Q1 Form 10-Q Financial Statement

#000103500220000016 Filed on April 29, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q4 2019 Q1
Revenue $22.10B $27.88B $24.26B
YoY Change -8.91% -2.96% -8.23%
Cost Of Revenue $24.19B $25.94B $23.73B
YoY Change 1.93% -4.74% -6.49%
Gross Profit -$2.085B $2.003B $533.0M
YoY Change -491.18% 29.56% -49.81%
Gross Profit Margin -9.43% 7.18% 2.2%
Selling, General & Admin $177.0M $243.0M $209.0M
YoY Change -15.31% 5.65% -12.18%
% of Gross Profit 12.13% 39.21%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $582.0M $571.0M $551.0M
YoY Change 5.63% 7.53% 10.64%
% of Gross Profit 28.51% 103.38%
Operating Expenses $192.0M $264.0M $225.0M
YoY Change -14.67% 6.88% -13.79%
Operating Profit -$2.277B $1.739B $308.0M
YoY Change -839.29% 33.87% -61.55%
Interest Expense $125.0M -$14.00M $112.0M
YoY Change 11.61% -78.13% -7.44%
% of Operating Profit -0.81% 36.36%
Other Income/Expense, Net $32.00M -$3.000M $22.00M
YoY Change 45.45% -107.14% -56.86%
Pretax Income -$2.370B $1.656B $218.0M
YoY Change -1187.16% 34.96% -70.18%
Income Tax -$616.0M $326.0M $51.00M
% Of Pretax Income 19.69% 23.39%
Net Earnings -$1.851B $1.060B $141.0M
YoY Change -1412.77% 11.34% -69.94%
Net Earnings / Revenue -8.37% 3.8% 0.58%
Basic Earnings Per Share -$4.54 $2.58 $0.34
Diluted Earnings Per Share -$4.54 $2.58 $0.34
COMMON SHARES
Basic Shares Outstanding 408.0M shares 410.7M shares 416.0M shares
Diluted Shares Outstanding 408.0M shares 418.0M shares

Balance Sheet

Concept 2020 Q1 2019 Q4 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.515B $2.583B $2.777B
YoY Change -45.44% -13.38% -40.38%
Cash & Equivalents $1.515B $2.583B $2.777B
Short-Term Investments
Other Short-Term Assets $5.137B $1.113B $1.501B
YoY Change 242.24% -69.19% 18.94%
Inventory $3.675B $7.013B $6.554B
Prepaid Expenses
Receivables $1.138B $8.058B $7.648B
Other Receivables $0.00 $846.0M $0.00
Total Short-Term Assets $11.47B $18.97B $18.48B
YoY Change -37.96% 7.32% 1.2%
LONG-TERM ASSETS
Property, Plant & Equipment $30.53B $29.26B $28.41B
YoY Change 7.46% 1.44% 2.44%
Goodwill $260.0M $260.0M
YoY Change 0.0%
Intangibles $283.0M
YoY Change -7.82%
Long-Term Investments $942.0M
YoY Change 73.8%
Other Assets $5.756B $5.631B $5.207B
YoY Change 10.54% 55.04% 53.83%
Total Long-Term Assets $36.28B $34.90B $33.62B
YoY Change 7.93% 7.44% 8.03%
TOTAL ASSETS
Total Short-Term Assets $11.47B $18.97B $18.48B
Total Long-Term Assets $36.28B $34.90B $33.62B
Total Assets $47.75B $53.86B $52.10B
YoY Change -8.35% 7.4% 5.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.906B $10.21B $10.01B
YoY Change -40.97% 18.75% 25.6%
Accrued Expenses $866.0M $949.0M $772.0M
YoY Change 12.18% 50.63% 30.85%
Deferred Revenue $55.00M
YoY Change 77.42%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $886.0M $494.0M $1.110B
YoY Change -20.18% 107.56% 27.44%
Total Short-Term Liabilities $8.732B $13.16B $12.91B
YoY Change -32.38% 22.72% 20.1%
LONG-TERM LIABILITIES
Long-Term Debt $10.57B $9.178B $9.006B
YoY Change 17.41% 3.46% 11.38%
Other Long-Term Liabilities $3.847B $3.887B $3.530B
YoY Change 8.98% 35.58% 21.64%
Total Long-Term Liabilities $3.847B $3.887B $3.530B
YoY Change 8.98% 35.58% 21.64%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.732B $13.16B $12.91B
Total Long-Term Liabilities $3.847B $3.887B $3.530B
Total Liabilities $12.58B $17.05B $16.44B
YoY Change -23.5% 25.43% 20.43%
SHAREHOLDERS EQUITY
Retained Earnings $29.72B $31.97B $30.81B
YoY Change -3.53% 3.0% 4.74%
Common Stock $6.821B $6.828B $6.809B
YoY Change 0.18% -3.22% -3.18%
Preferred Stock
YoY Change
Treasury Stock (at cost) $15.76B $15.65B $14.96B
YoY Change 5.39% 4.84% 10.08%
Treasury Stock Shares 265.8M shares 264.2M shares 256.3M shares
Shareholders Equity $18.84B $21.80B $21.31B
YoY Change
Total Liabilities & Shareholders Equity $47.75B $53.86B $52.10B
YoY Change -8.35% 7.4% 5.51%

Cashflow Statement

Concept 2020 Q1 2019 Q4 2019 Q1
OPERATING ACTIVITIES
Net Income -$1.851B $1.060B $141.0M
YoY Change -1412.77% 11.34% -69.94%
Depreciation, Depletion And Amortization $582.0M $571.0M $551.0M
YoY Change 5.63% 7.53% 10.64%
Cash From Operating Activities -$49.00M $1.708B $877.0M
YoY Change -105.59% 1.79% 535.51%
INVESTING ACTIVITIES
Capital Expenditures -$361.0M -$585.0M -$463.0M
YoY Change -22.03% 18.18% -230.06%
Acquisitions
YoY Change
Other Investing Activities -$10.00M -$226.0M $2.000M
YoY Change -600.0% -66.02% -75.0%
Cash From Investing Activities -$757.0M -$811.0M -$747.0M
YoY Change 1.34% -30.09% -0.66%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $147.0M $36.00M
YoY Change 308.33% -88.75%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$195.0M -523.0M -$378.0M
YoY Change -48.41% -47.01% -34.03%
NET CHANGE
Cash From Operating Activities -$49.00M 1.708B $877.0M
Cash From Investing Activities -$757.0M -811.0M -$747.0M
Cash From Financing Activities -$195.0M -523.0M -$378.0M
Net Change In Cash -$1.068B 374.0M -$205.0M
YoY Change 420.98% -179.74% -82.8%
FREE CASH FLOW
Cash From Operating Activities -$49.00M $1.708B $877.0M
Capital Expenditures -$361.0M -$585.0M -$463.0M
Free Cash Flow $312.0M $2.293B $1.340B
YoY Change -76.72% 5.52% -714.68%

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CY2020Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
1000000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-572000000 USD
CY2020Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
19685000000 USD
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
22731000000 USD
CY2019Q1 us-gaap Profit Loss
ProfitLoss
167000000 USD
CY2019Q1 us-gaap Dividends
Dividends
375000000 USD
CY2019Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
10000000 USD
CY2019Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
-1000000 USD
CY2019Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
34000000 USD
CY2019Q1 us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
950000000 USD
CY2019Q1 us-gaap Stockholders Equity Other
StockholdersEquityOther
-74000000 USD
CY2019Q1 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
-22000000 USD
CY2020Q1 us-gaap Increase Decrease In Other Current Assets And Liabilities Net
IncreaseDecreaseInOtherCurrentAssetsAndLiabilitiesNet
1107000000 USD
CY2019Q1 us-gaap Increase Decrease In Other Current Assets And Liabilities Net
IncreaseDecreaseInOtherCurrentAssetsAndLiabilitiesNet
-130000000 USD
CY2020Q1 us-gaap Increase Decrease In Other Noncurrent Assets And Liabilities Net
IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet
150000000 USD
CY2019Q1 us-gaap Increase Decrease In Other Noncurrent Assets And Liabilities Net
IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet
-51000000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-49000000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
157000000 USD
CY2019Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
21779000000 USD
CY2020Q1 us-gaap Profit Loss
ProfitLoss
-1754000000 USD
CY2019Q1 us-gaap Profit Loss
ProfitLoss
167000000 USD
CY2020Q1 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
582000000 USD
CY2019Q1 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
551000000 USD
CY2020Q1 us-gaap Inventory Write Down
InventoryWriteDown
2542000000 USD
CY2019Q1 us-gaap Inventory Write Down
InventoryWriteDown
0 USD
CY2020Q1 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
-162000000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
877000000 USD
CY2020Q1 us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
19000000 USD
CY2019Q1 us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
63000000 USD
CY2020Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-10000000 USD
CY2019Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
2000000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-757000000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-747000000 USD
CY2020Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
147000000 USD
CY2019Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
36000000 USD
CY2020Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
401000000 USD
CY2019Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
375000000 USD
CY2020Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
0 USD
CY2019Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
950000000 USD
CY2020Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-1000000 USD
CY2019Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-25000000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-195000000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-378000000 USD
CY2020Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-67000000 USD
CY2019Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
43000000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1068000000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-205000000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2583000000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2982000000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1515000000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2777000000 USD
CY2020Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="line-height:120%;text-indent:24px;font-size:11pt;"><span style="font-family:inherit;font-size:11pt;font-weight:bold;">Reclassifications</span></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><span style="font-family:inherit;font-size:11pt;">Prior year amounts for capital expenditures and repayments of debt and finance lease obligations in the consolidated statements of cash flows have been reclassified to conform to the 2020 presentation to separately provide these expenditures for us and our consolidated VIEs.</span></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><span style="font-family:inherit;font-size:11pt;"><br/></span></div>
CY2020Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="line-height:120%;text-indent:24px;font-size:11pt;"><span style="font-family:inherit;font-size:11pt;font-weight:bold;">Use of Estimates</span></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><span style="font-family:inherit;font-size:11pt;">The preparation of financial statements in conformity with U.S.</span><span style="font-family:inherit;font-size:11pt;font-style:italic;"> </span><span style="font-family:inherit;font-size:11pt;">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.</span></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><span style="font-family:inherit;font-size:11pt;"><br/></span></div>
CY2020Q1 vlo Number Of Ethanol Plants Temporarily Idled
NumberOfEthanolPlantsTemporarilyIdled
8 plant
CY2020Q1 vlo Number Of Ethanol Plants With Temporarily Reduced Production
NumberOfEthanolPlantsWithTemporarilyReducedProduction
6 plant
CY2020Q1 vlo Asset Impairment Number Of Ethanol Plants Evaluated For Potential Impairment
AssetImpairmentNumberOfEthanolPlantsEvaluatedForPotentialImpairment
6 plant
CY2020Q1 us-gaap Goodwill
Goodwill
260000000 USD
CY2020Q1 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2020Q1 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
2500000000 USD
CY2020Q1 us-gaap Crude Oil And Natural Gas Liquids
CrudeOilAndNaturalGasLiquids
2016000000 USD
CY2019Q4 us-gaap Crude Oil And Natural Gas Liquids
CrudeOilAndNaturalGasLiquids
2399000000 USD
CY2020Q1 us-gaap Inventory Crude Oil Products And Merchandise
InventoryCrudeOilProductsAndMerchandise
3616000000 USD
CY2019Q4 us-gaap Inventory Crude Oil Products And Merchandise
InventoryCrudeOilProductsAndMerchandise
4034000000 USD
CY2020Q1 vlo Renewable Diesel Feedstocksand Products
RenewableDieselFeedstocksandProducts
44000000 USD
CY2019Q4 vlo Renewable Diesel Feedstocksand Products
RenewableDieselFeedstocksandProducts
46000000 USD
CY2020Q1 vlo Ethanol Feedstocks And Products
EthanolFeedstocksAndProducts
270000000 USD
CY2019Q4 vlo Ethanol Feedstocks And Products
EthanolFeedstocksAndProducts
260000000 USD
CY2020Q1 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
277000000 USD
CY2019Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
274000000 USD
CY2020Q1 vlo Inventory Before Valuation Reserve
InventoryBeforeValuationReserve
6223000000 USD
CY2019Q4 vlo Inventory Before Valuation Reserve
InventoryBeforeValuationReserve
7013000000 USD
CY2020Q1 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
2548000000 USD
CY2019Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
0 USD
CY2020Q1 us-gaap Inventory Net
InventoryNet
3675000000 USD
CY2019Q4 us-gaap Inventory Net
InventoryNet
7013000000 USD
CY2020Q1 us-gaap Inventory Write Down
InventoryWriteDown
2500000000 USD
CY2019Q4 us-gaap Excess Of Replacement Or Current Costs Over Stated Lifo Value
ExcessOfReplacementOrCurrentCostsOverStatedLIFOValue
2500000000 USD
CY2020Q1 us-gaap Weighted Average Cost Inventory Amount
WeightedAverageCostInventoryAmount
1100000000 USD
CY2019Q4 us-gaap Weighted Average Cost Inventory Amount
WeightedAverageCostInventoryAmount
1400000000 USD
CY2020Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
26000000 USD
CY2020Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
22000000 USD
CY2020Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
109000000 USD
CY2020Q1 us-gaap Variable Lease Cost
VariableLeaseCost
36000000 USD
CY2020Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
40000000 USD
CY2020Q1 us-gaap Sublease Income
SubleaseIncome
6000000 USD
CY2020Q1 us-gaap Lease Cost
LeaseCost
227000000 USD
CY2019Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
10000000 USD
CY2019Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
11000000 USD
CY2019Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
105000000 USD
CY2019Q1 us-gaap Variable Lease Cost
VariableLeaseCost
28000000 USD
CY2019Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
23000000 USD
CY2019Q1 us-gaap Sublease Income
SubleaseIncome
2000000 USD
CY2019Q1 us-gaap Lease Cost
LeaseCost
175000000 USD
CY2020Q1 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
2203000000 USD
CY2019Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
790000000 USD
CY2020Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1297000000 USD
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1329000000 USD
CY2020Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1297000000 USD
CY2020Q1 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
2203000000 USD
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1329000000 USD
CY2019Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
790000000 USD
CY2020Q1 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
63000000 USD
CY2019Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
41000000 USD
CY2020Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
342000000 USD
CY2019Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
331000000 USD
CY2020Q1 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
2149000000 USD
CY2019Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
750000000 USD
CY2020Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
928000000 USD
CY2019Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
959000000 USD
CY2020Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
1270000000 USD
CY2020Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
2212000000 USD
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1290000000 USD
CY2019Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
791000000 USD
CY2020Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y6M
CY2020Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P22Y10M24D
CY2019Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y8M12D
CY2019Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P19Y8M12D
CY2020Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.048
CY2020Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.044
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.049
CY2019Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.052
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
498000000 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
489000000 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
273000000 USD
CY2020Q1 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
2895000000 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
302000000 USD
CY2020Q1 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
123000000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
376000000 USD
CY2019Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
88000000 USD
CY2020Q1 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
164000000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
250000000 USD
CY2019Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
86000000 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
205000000 USD
CY2020Q1 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
165000000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
194000000 USD
CY2019Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
87000000 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
170000000 USD
CY2020Q1 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
171000000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
160000000 USD
CY2019Q4 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
91000000 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
133000000 USD
CY2020Q1 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
162000000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
125000000 USD
CY2019Q4 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
82000000 USD
CY2019Q4 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
1011000000 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1572000000 USD
CY2020Q1 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
3680000000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1603000000 USD
CY2019Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
1445000000 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
302000000 USD
CY2020Q1 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
1468000000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
313000000 USD
CY2019Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
654000000 USD
CY2020Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
1270000000 USD
CY2020Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
2212000000 USD
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1290000000 USD
CY2019Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
791000000 USD
CY2020Q1 us-gaap Interest Costs Incurred
InterestCostsIncurred
145000000 USD
CY2019Q1 us-gaap Interest Costs Incurred
InterestCostsIncurred
136000000 USD
CY2020Q1 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
20000000 USD
CY2019Q1 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
24000000 USD
CY2020Q1 us-gaap Interest Expense
InterestExpense
125000000 USD
CY2019Q1 us-gaap Interest Expense
InterestExpense
112000000 USD
CY2020Q1 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
-585000000 USD
CY2019Q1 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
153000000 USD
CY2020Q1 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
1000000 USD
CY2019Q1 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
-2000000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-586000000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
155000000 USD
CY2019Q1 us-gaap Cost Of Goods And Services Sold Depreciation And Amortization
CostOfGoodsAndServicesSoldDepreciationAndAmortization
537000000 USD
CY2019Q1 us-gaap Cost Of Revenue
CostOfRevenue
23730000000 USD
CY2019Q1 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
2000000 USD
CY2019Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
209000000 USD
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-616000000 USD
CY2020Q1 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
-110000000 USD
CY2020Q1 us-gaap Unusual Or Infrequent Tax Effect
UnusualOrInfrequentTaxEffect
-551000000 USD
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-1851000000 USD
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
141000000 USD
CY2020Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
1000000 USD
CY2019Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
1000000 USD
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1852000000 USD
CY2019Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
140000000 USD
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
408000000 shares
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
416000000 shares
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-4.54
CY2019Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.34
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-1851000000 USD
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
141000000 USD
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
408000000 shares
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
416000000 shares
CY2020Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2019Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2000000 shares
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
408000000 shares
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
418000000 shares
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-4.54
CY2019Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.34
CY2020Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
19000000 USD
CY2019Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
55000000 USD
CY2020Q1 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-36000000 USD
CY2020Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
52000000 USD
CY2020Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segment
CY2020Q1 vlo Number Of Refineries Owned By Company
NumberOfRefineriesOwnedByCompany
15 refinery
CY2020Q1 vlo Number Of Ethanol Plants Owned By Company
NumberOfEthanolPlantsOwnedByCompany
14 ethanol_plant
CY2020Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
22102000000 USD
CY2020Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
22102000000 USD
CY2020Q1 us-gaap Cost Direct Material
CostDirectMaterial
19952000000 USD
CY2020Q1 us-gaap Inventory Write Down
InventoryWriteDown
2542000000 USD
CY2020Q1 us-gaap Cost Of Goods And Services Sold Overhead
CostOfGoodsAndServicesSoldOverhead
1124000000 USD
CY2020Q1 us-gaap Cost Of Goods And Services Sold Depreciation And Amortization
CostOfGoodsAndServicesSoldDepreciationAndAmortization
569000000 USD
CY2020Q1 us-gaap Cost Of Revenue
CostOfRevenue
24187000000 USD
CY2020Q1 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
2000000 USD
CY2020Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
177000000 USD
CY2020Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
13000000 USD
CY2020Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-2277000000 USD
CY2019Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
24263000000 USD
CY2019Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
24263000000 USD
CY2019Q1 us-gaap Cost Direct Material
CostDirectMaterial
21978000000 USD
CY2019Q1 us-gaap Cost Of Goods And Services Sold Overhead
CostOfGoodsAndServicesSoldOverhead
1215000000 USD
CY2020Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
121000000 USD
CY2019Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
-59000000 USD
CY2019Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
14000000 USD
CY2019Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
308000000 USD
CY2020Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
22102000000 USD
CY2019Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
24263000000 USD
CY2020Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
106000000 USD
CY2020Q1 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
22000000 USD
CY2019Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
107000000 USD
CY2020Q1 us-gaap Assets
Assets
47747000000 USD
CY2019Q4 us-gaap Assets
Assets
53864000000 USD
CY2019Q1 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
11000000 USD
CY2020Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
15000000 USD
CY2019Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
6000000 USD
CY2020Q1 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
-3397000000 USD
CY2019Q1 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
895000000 USD
CY2020Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-627000000 USD
CY2019Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-28000000 USD
CY2020Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
437000000 USD
CY2020Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
92000000 USD
CY2020Q1 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
1441000000 USD
CY2019Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-16000000 USD
CY2020Q1 us-gaap Increase Decrease In Other Current Assets And Liabilities Net
IncreaseDecreaseInOtherCurrentAssetsAndLiabilitiesNet
1107000000 USD
CY2019Q1 us-gaap Increase Decrease In Other Current Assets And Liabilities Net
IncreaseDecreaseInOtherCurrentAssetsAndLiabilitiesNet
-130000000 USD
CY2020Q1 us-gaap Interest Paid Net
InterestPaidNet
88000000 USD
CY2019Q1 us-gaap Interest Paid Net
InterestPaidNet
96000000 USD
CY2020Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-4222000000 USD
CY2019Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1400000000 USD
CY2020Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-79000000 USD
CY2019Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-167000000 USD
CY2020Q1 us-gaap Increase Decrease In Property And Other Taxes Payable
IncreaseDecreaseInPropertyAndOtherTaxesPayable
-241000000 USD
CY2019Q1 us-gaap Increase Decrease In Property And Other Taxes Payable
IncreaseDecreaseInPropertyAndOtherTaxesPayable
-263000000 USD
CY2020Q1 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-152000000 USD
CY2019Q1 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
11000000 USD
CY2019Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1404000000 USD
CY2019Q1 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
2000000 USD
CY2020Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1515000000 USD
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2583000000 USD
CY2020Q1 us-gaap Long Term Debt
LongTermDebt
9248000000 USD
CY2019Q4 us-gaap Long Term Debt
LongTermDebt
8881000000 USD
CY2020Q1 us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
18000000 USD

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