2021 Q2 Form 10-Q Financial Statement

#000103500221000102 Filed on July 29, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $27.75B $10.40B
YoY Change 166.88% -64.07%
Cost Of Revenue $27.04B $8.424B
YoY Change 220.98% -69.71%
Gross Profit $709.0M $1.973B
YoY Change -64.06% 75.69%
Gross Profit Margin 2.56% 18.98%
Selling, General & Admin $176.0M $169.0M
YoY Change 4.14% -15.08%
% of Gross Profit 24.82% 8.57%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $588.0M $578.0M
YoY Change 1.73% 2.12%
% of Gross Profit 82.93% 29.3%
Operating Expenses $200.0M $184.0M
YoY Change 8.7% -14.42%
Operating Profit $509.0M $1.789B
YoY Change -71.55% 97.03%
Interest Expense $150.0M $142.0M
YoY Change 5.63% 26.79%
% of Operating Profit 29.47% 7.94%
Other Income/Expense, Net $102.0M $27.00M
YoY Change 277.78% 125.0%
Pretax Income $461.0M $1.674B
YoY Change -72.46% 107.18%
Income Tax $169.0M $339.0M
% Of Pretax Income 36.66% 20.25%
Net Earnings $162.0M $1.253B
YoY Change -87.07% 104.74%
Net Earnings / Revenue 0.58% 12.05%
Basic Earnings Per Share $0.39 $3.07
Diluted Earnings Per Share $0.39 $3.07
COMMON SHARES
Basic Shares Outstanding 407.0M shares 406.0M shares
Diluted Shares Outstanding 407.0M shares 407.0M shares

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.572B $2.319B
YoY Change 54.03% 14.07%
Cash & Equivalents $3.572B $2.319B
Short-Term Investments
Other Short-Term Assets $565.0M $1.555B
YoY Change -63.67% 15.79%
Inventory $6.103B $5.420B
Prepaid Expenses
Receivables $9.132B $3.468B
Other Receivables $0.00 $0.00
Total Short-Term Assets $19.37B $12.76B
YoY Change 51.79% -28.35%
LONG-TERM ASSETS
Property, Plant & Equipment $30.46B $31.93B
YoY Change -4.59% 10.92%
Goodwill $260.0M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $5.623B $5.684B
YoY Change -1.07% 4.74%
Total Long-Term Assets $36.08B $36.34B
YoY Change -0.7% 6.21%
TOTAL ASSETS
Total Short-Term Assets $19.37B $12.76B
Total Long-Term Assets $36.08B $36.34B
Total Assets $55.46B $49.10B
YoY Change 12.95% -5.62%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.17B $4.652B
YoY Change 118.57% -54.1%
Accrued Expenses $1.286B $861.0M
YoY Change 49.36% 12.7%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.044B $587.0M
YoY Change 77.85% 81.73%
Total Short-Term Liabilities $14.21B $7.300B
YoY Change 94.71% -41.82%
LONG-TERM LIABILITIES
Long-Term Debt $13.64B $12.09B
YoY Change 12.79% 31.89%
Other Long-Term Liabilities $3.760B $3.770B
YoY Change -0.27% 5.57%
Total Long-Term Liabilities $3.760B $3.770B
YoY Change -0.27% 5.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.21B $7.300B
Total Long-Term Liabilities $3.760B $3.770B
Total Liabilities $17.97B $11.07B
YoY Change 62.37% -31.32%
SHAREHOLDERS EQUITY
Retained Earnings $27.61B $30.58B
YoY Change -9.7% -1.52%
Common Stock $6.826B $6.831B
YoY Change -0.07% 0.18%
Preferred Stock
YoY Change
Treasury Stock (at cost) $15.70B $15.76B
YoY Change -0.41% 3.89%
Treasury Stock Shares 264.7M shares 265.7M shares
Shareholders Equity $17.65B $19.85B
YoY Change
Total Liabilities & Shareholders Equity $55.46B $49.10B
YoY Change 12.95% -5.62%

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income $162.0M $1.253B
YoY Change -87.07% 104.74%
Depreciation, Depletion And Amortization $588.0M $578.0M
YoY Change 1.73% 2.12%
Cash From Operating Activities $2.008B $736.0M
YoY Change 172.83% -51.48%
INVESTING ACTIVITIES
Capital Expenditures -$355.0M -$514.0M
YoY Change -30.93% 0.59%
Acquisitions
YoY Change
Other Investing Activities $99.00M -$68.00M
YoY Change -245.59% -77.1%
Cash From Investing Activities -$256.0M -$582.0M
YoY Change -56.01% -27.97%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -427.0M 630.0M
YoY Change -167.78% -143.54%
NET CHANGE
Cash From Operating Activities 2.008B 736.0M
Cash From Investing Activities -256.0M -582.0M
Cash From Financing Activities -427.0M 630.0M
Net Change In Cash 1.325B 784.0M
YoY Change 69.01% -206.23%
FREE CASH FLOW
Cash From Operating Activities $2.008B $736.0M
Capital Expenditures -$355.0M -$514.0M
Free Cash Flow $2.363B $1.250B
YoY Change 89.04% -38.36%

Facts In Submission

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OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax
-24000000 USD
CY2021Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTax
-7000000 USD
CY2020Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTax
-25000000 USD
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTax
3000000 USD
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTax
4000000 USD
CY2021Q2 us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
75000000 USD
CY2020Q2 us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
125000000 USD
us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
176000000 USD
us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
-441000000 USD
CY2021Q2 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
2000000 USD
CY2020Q2 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
-1000000 USD
us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
9000000 USD
us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
5000000 USD
CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
73000000 USD
CY2020Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
126000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
167000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-446000000 USD
CY2021Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
365000000 USD
CY2020Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
1461000000 USD
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-163000000 USD
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-865000000 USD
CY2021Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
127000000 USD
CY2020Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
70000000 USD
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
214000000 USD
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
181000000 USD
CY2021Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
238000000 USD
CY2020Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1391000000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-377000000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-1046000000 USD
CY2021Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
18727000000 USD
CY2021Q2 us-gaap Profit Loss
ProfitLoss
292000000 USD
CY2021Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.98
CY2021Q2 us-gaap Dividends
Dividends
401000000 USD
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
13000000 USD
CY2021Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
0 USD
CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
73000000 USD
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
18704000000 USD
CY2020Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
19685000000 USD
CY2020Q2 us-gaap Profit Loss
ProfitLoss
1335000000 USD
CY2020Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.98
CY2020Q2 us-gaap Dividends
Dividends
400000000 USD
CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
12000000 USD
CY2020Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
2000000 USD
CY2020Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
126000000 USD
CY2020Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
126000000 USD
CY2020Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
20634000000 USD
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
19642000000 USD
us-gaap Profit Loss
ProfitLoss
-330000000 USD
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.96
us-gaap Dividends
Dividends
801000000 USD
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
41000000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
-13000000 USD
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
2000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
167000000 USD
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
18704000000 USD
CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
22536000000 USD
us-gaap Profit Loss
ProfitLoss
-419000000 USD
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.96
us-gaap Dividends
Dividends
801000000 USD
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
36000000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
-15000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
130000000 USD
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
127000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-446000000 USD
CY2020Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
20634000000 USD
us-gaap Profit Loss
ProfitLoss
-330000000 USD
us-gaap Profit Loss
ProfitLoss
-419000000 USD
us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
1166000000 USD
us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
1160000000 USD
us-gaap Inventory Write Down
InventoryWriteDown
0 USD
us-gaap Inventory Write Down
InventoryWriteDown
294000000 USD
us-gaap Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
62000000 USD
us-gaap Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
0 USD
us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
-136000000 USD
us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
223000000 USD
vlo Increase Decrease In Operating Capital Current
IncreaseDecreaseInOperatingCapitalCurrent
-1251000000 USD
vlo Increase Decrease In Operating Capital Current
IncreaseDecreaseInOperatingCapitalCurrent
478000000 USD
us-gaap Increase Decrease In Other Noncurrent Assets And Liabilities Net
IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet
-67000000 USD
us-gaap Increase Decrease In Other Noncurrent Assets And Liabilities Net
IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet
93000000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1956000000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
687000000 USD
us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
270000000 USD
us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
0 USD
us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
9000000 USD
us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
29000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-24000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-12000000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-836000000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1339000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
15000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
147000000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
801000000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
801000000 USD
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
2000000 USD
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
127000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
2000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-17000000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-866000000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
435000000 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5000000 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-47000000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
259000000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-264000000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3313000000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2583000000 USD
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3572000000 USD
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2319000000 USD
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Reclassifications</span></div><div style="margin-bottom:11pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Certain prior year amounts presented in Note 11 have been reclassified to conform to the 2021 presentation. The change was due to the reclassification of amounts for income taxes receivable from prepaid expenses and other to “receivables, net.”</span></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:11pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with U.S.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">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>
CY2021Q2 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
292000000 USD
CY2021Q2 us-gaap Crude Oil And Natural Gas Liquids
CrudeOilAndNaturalGasLiquids
2272000000 USD
CY2020Q4 us-gaap Crude Oil And Natural Gas Liquids
CrudeOilAndNaturalGasLiquids
1979000000 USD
CY2021Q2 us-gaap Inventory Crude Oil Products And Merchandise
InventoryCrudeOilProductsAndMerchandise
3173000000 USD
CY2020Q4 us-gaap Inventory Crude Oil Products And Merchandise
InventoryCrudeOilProductsAndMerchandise
3425000000 USD
CY2021Q2 vlo Renewable Diesel Feedstocksand Products
RenewableDieselFeedstocksandProducts
28000000 USD
CY2020Q4 vlo Renewable Diesel Feedstocksand Products
RenewableDieselFeedstocksandProducts
50000000 USD
CY2021Q2 vlo Ethanol Feedstocks And Products
EthanolFeedstocksAndProducts
338000000 USD
CY2020Q4 vlo Ethanol Feedstocks And Products
EthanolFeedstocksAndProducts
297000000 USD
CY2020Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
287000000 USD
CY2021Q2 us-gaap Inventory Net
InventoryNet
6103000000 USD
CY2020Q4 us-gaap Inventory Net
InventoryNet
6038000000 USD
CY2020Q1 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
2500000000 USD
CY2020Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
294000000 USD
CY2020Q2 us-gaap Inventory Write Down
InventoryWriteDown
-2200000000 USD
us-gaap Inventory Write Down
InventoryWriteDown
294000000 USD
CY2021Q2 us-gaap Excess Of Replacement Or Current Costs Over Stated Lifo Value
ExcessOfReplacementOrCurrentCostsOverStatedLIFOValue
4100000000 USD
CY2021Q2 us-gaap Interest Costs Incurred
InterestCostsIncurred
162000000 USD
CY2020Q2 us-gaap Interest Costs Incurred
InterestCostsIncurred
161000000 USD
us-gaap Interest Costs Incurred
InterestCostsIncurred
326000000 USD
us-gaap Interest Costs Incurred
InterestCostsIncurred
306000000 USD
CY2021Q2 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
12000000 USD
CY2020Q2 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
19000000 USD
us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
27000000 USD
us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
39000000 USD
CY2021Q2 us-gaap Interest Expense
InterestExpense
150000000 USD
CY2020Q2 us-gaap Interest Expense
InterestExpense
142000000 USD
us-gaap Interest Expense
InterestExpense
299000000 USD
us-gaap Interest Expense
InterestExpense
267000000 USD
CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
76000000 USD
CY2021Q2 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
59000000 USD
CY2020Q2 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
136000000 USD
CY2021Q2 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
-18000000 USD
CY2020Q2 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
-2000000 USD
CY2021Q2 vlo Other Comprehensive Income Loss Net Of Tax Effect Of Exchange Rates Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxEffectOfExchangeRatesPortionAttributableToParent
-1000000 USD
CY2020Q2 vlo Other Comprehensive Income Loss Net Of Tax Effect Of Exchange Rates Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxEffectOfExchangeRatesPortionAttributableToParent
0 USD
CY2020Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
138000000 USD
us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
131000000 USD
us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
-449000000 USD
us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
-35000000 USD
us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
-1000000 USD
vlo Other Comprehensive Income Loss Net Of Tax Effect Of Exchange Rates Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxEffectOfExchangeRatesPortionAttributableToParent
-1000000 USD
vlo Other Comprehensive Income Loss Net Of Tax Effect Of Exchange Rates Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxEffectOfExchangeRatesPortionAttributableToParent
0 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
165000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-448000000 USD
CY2021Q2 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
64000000 USD
us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
64000000 USD
CY2020Q2 vlo Effective Income Tax Rate Reconciliation Nol Carryback Cares Act Amount
EffectiveIncomeTaxRateReconciliationNOLCarrybackCARESActAmount
-7000000 USD
vlo Effective Income Tax Rate Reconciliation Nol Carryback Cares Act Amount
EffectiveIncomeTaxRateReconciliationNOLCarrybackCARESActAmount
-117000000 USD
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
162000000 USD
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
1253000000 USD
us-gaap Net Income Loss
NetIncomeLoss
-542000000 USD
us-gaap Net Income Loss
NetIncomeLoss
-598000000 USD
CY2021Q2 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
2000000 USD
CY2020Q2 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
4000000 USD
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
3000000 USD
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
3000000 USD
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
160000000 USD
CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1249000000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-545000000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-601000000 USD
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
407000000 shares
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
406000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
407000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
407000000 shares
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.39
CY2020Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.07
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.34
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.48
CY2021Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
162000000 USD
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
1253000000 USD
us-gaap Net Income Loss
NetIncomeLoss
-542000000 USD
us-gaap Net Income Loss
NetIncomeLoss
-598000000 USD
CY2021Q2 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
2000000 USD
CY2020Q2 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
4000000 USD
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
3000000 USD
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
3000000 USD
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
160000000 USD
CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1249000000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-545000000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-601000000 USD
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
407000000 shares
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
406000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
407000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
407000000 shares
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
52000000 USD
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-15000000 USD
CY2020Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1000000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
407000000 shares
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
407000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
407000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
407000000 shares
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.39
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.07
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.34
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.48
CY2021Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
40000000 USD
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
55000000 USD
CY2021Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
27748000000 USD
CY2021Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
27748000000 USD
CY2021Q2 us-gaap Cost Direct Material
CostDirectMaterial
25249000000 USD
CY2021Q2 us-gaap Cost Of Goods And Services Sold Overhead
CostOfGoodsAndServicesSoldOverhead
1214000000 USD
CY2021Q2 us-gaap Cost Of Goods And Services Sold Depreciation And Amortization
CostOfGoodsAndServicesSoldDepreciationAndAmortization
576000000 USD
CY2021Q2 us-gaap Cost Of Revenue
CostOfRevenue
27039000000 USD
CY2021Q2 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
12000000 USD
CY2021Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
176000000 USD
CY2021Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
12000000 USD
CY2021Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
509000000 USD
CY2020Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
10397000000 USD
CY2020Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
10397000000 USD
CY2020Q2 us-gaap Cost Direct Material
CostDirectMaterial
9079000000 USD
CY2020Q2 us-gaap Inventory Write Down
InventoryWriteDown
-2248000000 USD
CY2020Q2 us-gaap Cost Of Goods And Services Sold Overhead
CostOfGoodsAndServicesSoldOverhead
1027000000 USD
CY2020Q2 us-gaap Cost Of Goods And Services Sold Depreciation And Amortization
CostOfGoodsAndServicesSoldDepreciationAndAmortization
566000000 USD
CY2020Q2 us-gaap Cost Of Revenue
CostOfRevenue
8424000000 USD
CY2020Q2 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
3000000 USD
CY2020Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
169000000 USD
CY2020Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
12000000 USD
CY2020Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
1789000000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
48554000000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
48554000000 USD
us-gaap Cost Direct Material
CostDirectMaterial
44241000000 USD
us-gaap Cost Of Goods And Services Sold Overhead
CostOfGoodsAndServicesSoldOverhead
2870000000 USD
us-gaap Cost Of Goods And Services Sold Depreciation And Amortization
CostOfGoodsAndServicesSoldDepreciationAndAmortization
1142000000 USD
us-gaap Cost Of Revenue
CostOfRevenue
48253000000 USD
us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
50000000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
384000000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
24000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-157000000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
32499000000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
32499000000 USD
us-gaap Cost Direct Material
CostDirectMaterial
29031000000 USD
us-gaap Inventory Write Down
InventoryWriteDown
294000000 USD
us-gaap Cost Of Goods And Services Sold Overhead
CostOfGoodsAndServicesSoldOverhead
2151000000 USD
us-gaap Cost Of Goods And Services Sold Depreciation And Amortization
CostOfGoodsAndServicesSoldDepreciationAndAmortization
1135000000 USD
us-gaap Cost Of Revenue
CostOfRevenue
32611000000 USD
us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
5000000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
346000000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
25000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-488000000 USD
CY2021Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
27748000000 USD
CY2020Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
10397000000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
48554000000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
32499000000 USD
CY2021Q2 us-gaap Assets
Assets
55456000000 USD
CY2020Q4 us-gaap Assets
Assets
51774000000 USD
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
3069000000 USD
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
-4177000000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
47000000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-1136000000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
103000000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-56000000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
3979000000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-5446000000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
284000000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-73000000 USD
us-gaap Increase Decrease In Property And Other Taxes Payable
IncreaseDecreaseInPropertyAndOtherTaxesPayable
162000000 USD
us-gaap Increase Decrease In Property And Other Taxes Payable
IncreaseDecreaseInPropertyAndOtherTaxesPayable
-180000000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
45000000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-148000000 USD
vlo Increase Decrease In Operating Capital Current
IncreaseDecreaseInOperatingCapitalCurrent
-1251000000 USD
vlo Increase Decrease In Operating Capital Current
IncreaseDecreaseInOperatingCapitalCurrent
478000000 USD
us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
962000000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-4100000000 USD
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
440000000 USD
us-gaap Interest Paid Net
InterestPaidNet
290000000 USD
us-gaap Interest Paid Net
InterestPaidNet
250000000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
-882000000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
76000000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
199000000 USD
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
35000000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
216000000 USD
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
48000000 USD
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
63000000 USD
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
32000000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
315000000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
46000000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
163000000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
1495000000 USD
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3572000000 USD
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3313000000 USD
CY2021Q2 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
13033000000 USD
CY2020Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
13013000000 USD
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
We do not require any collateral or other security to support derivative instruments into which we enter.

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