2021 Q4 Form 10-K Financial Statement

#000103500222000007 Filed on February 22, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $35.90B $114.0B $16.60B
YoY Change 116.23% 75.59% -40.44%
Cost Of Revenue $33.99B $110.8B $16.83B
YoY Change 101.93% 68.84% -35.11%
Gross Profit $1.910B $3.129B -$230.0M
YoY Change -930.43% -522.84% -111.48%
Gross Profit Margin 5.32% 2.75% -1.39%
Selling, General & Admin $286.0M $865.0M $224.0M
YoY Change 27.68% 14.42% -7.82%
% of Gross Profit 14.97% 27.64%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $598.0M $1.700B $577.0M
YoY Change 3.64% 6.25% 1.05%
% of Gross Profit 31.31% 54.33%
Operating Expenses $316.0M $999.0M $240.0M
YoY Change 31.67% 19.07% -9.09%
Operating Profit $1.594B $2.130B -$470.0M
YoY Change -439.15% -234.9% -127.03%
Interest Expense -$152.0M $603.0M -$153.0M
YoY Change -0.65% 7.1% 992.86%
% of Operating Profit -9.54% 28.31%
Other Income/Expense, Net -$163.0M $16.00M $25.00M
YoY Change -752.0% -87.88% -933.33%
Pretax Income $1.279B $1.543B -$598.0M
YoY Change -313.88% -176.77% -136.11%
Income Tax $169.0M $255.0M -$289.0M
% Of Pretax Income 13.21% 16.53%
Net Earnings $1.009B $930.0M -$359.0M
YoY Change -381.06% -165.45% -133.87%
Net Earnings / Revenue 2.81% 0.82% -2.16%
Basic Earnings Per Share $2.27 -$0.88
Diluted Earnings Per Share $2.479M $2.27 -$0.88
COMMON SHARES
Basic Shares Outstanding 408.8M shares 407.0M shares 407.8M shares
Diluted Shares Outstanding 407.0M shares

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.122B $4.122B $3.313B
YoY Change 24.42% 24.42% 28.26%
Cash & Equivalents $4.122B $4.122B $3.313B
Short-Term Investments
Other Short-Term Assets $400.0M $400.0M $384.0M
YoY Change 4.17% 4.17% -65.5%
Inventory $6.265B $6.265B $6.038B
Prepaid Expenses
Receivables $9.968B $10.38B $4.807B
Other Receivables $389.0M $0.00 $278.0M
Total Short-Term Assets $21.17B $21.17B $15.84B
YoY Change 33.58% 33.58% -16.47%
LONG-TERM ASSETS
Property, Plant & Equipment $32.13B $32.13B $31.59B
YoY Change 1.7% 1.7% 7.96%
Goodwill $260.0M $260.0M
YoY Change 0.0% 0.0%
Intangibles $218.0M $248.0M
YoY Change -12.1% -12.37%
Long-Term Investments $734.0M $734.0M $972.0M
YoY Change -24.49% -24.49% 3.18%
Other Assets $5.876B $2.794B $5.541B
YoY Change 6.05% 23.19% -1.6%
Total Long-Term Assets $36.72B $36.72B $35.93B
YoY Change 2.21% 2.21% 2.97%
TOTAL ASSETS
Total Short-Term Assets $21.17B $21.17B $15.84B
Total Long-Term Assets $36.72B $36.72B $35.93B
Total Assets $57.89B $57.89B $51.77B
YoY Change 11.81% 11.81% -3.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.50B $12.50B $6.082B
YoY Change 105.44% 105.44% -40.4%
Accrued Expenses $1.253B $2.558B $994.0M
YoY Change 26.06% 10.74% 4.74%
Deferred Revenue $78.00M $55.00M
YoY Change 41.82% 0.0%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.264B $1.264B $723.0M
YoY Change 74.83% 74.83% 46.36%
Total Short-Term Liabilities $16.85B $16.85B $9.283B
YoY Change 81.53% 81.53% -29.46%
LONG-TERM LIABILITIES
Long-Term Debt $12.61B $12.61B $13.95B
YoY Change -9.66% -9.66% 52.04%
Other Long-Term Liabilities $3.404B $3.404B $3.620B
YoY Change -5.97% -5.97% -6.87%
Total Long-Term Liabilities $3.404B $16.01B $3.620B
YoY Change -5.97% -8.9% -6.87%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.85B $16.85B $9.283B
Total Long-Term Liabilities $3.404B $16.01B $3.620B
Total Liabilities $20.26B $39.46B $12.90B
YoY Change 56.98% 19.67% -24.31%
SHAREHOLDERS EQUITY
Retained Earnings $28.28B $28.95B
YoY Change -2.32% -9.45%
Common Stock $6.834B $6.821B
YoY Change 0.19% -0.1%
Preferred Stock
YoY Change
Treasury Stock (at cost) $15.68B $15.72B
YoY Change -0.27% 0.45%
Treasury Stock Shares 264.3M shares 265.1M shares
Shareholders Equity $18.43B $18.43B $18.80B
YoY Change
Total Liabilities & Shareholders Equity $57.89B $57.89B $51.77B
YoY Change 11.81% 11.81% -3.88%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income $1.009B $930.0M -$359.0M
YoY Change -381.06% -165.45% -133.87%
Depreciation, Depletion And Amortization $598.0M $1.700B $577.0M
YoY Change 3.64% 6.25% 1.05%
Cash From Operating Activities $2.454B $5.859B $96.00M
YoY Change 2456.25% 518.04% -94.38%
INVESTING ACTIVITIES
Capital Expenditures -$508.0M -$1.665B -$506.0M
YoY Change 0.4% -6.88% -13.5%
Acquisitions
YoY Change
Other Investing Activities -$239.0M -$38.00M -$67.00M
YoY Change 256.72% -41.54% -70.35%
Cash From Investing Activities -$747.0M -$2.159B -$573.0M
YoY Change 30.37% -10.97% -29.35%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $27.00M
YoY Change -82.69%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.107B -$2.846B -393.0M
YoY Change 181.68% -237.02% -24.86%
NET CHANGE
Cash From Operating Activities 2.454B $5.859B 96.00M
Cash From Investing Activities -747.0M -$2.159B -573.0M
Cash From Financing Activities -1.107B -$2.846B -393.0M
Net Change In Cash 600.0M $809.0M -870.0M
YoY Change -168.97% 10.82% -332.62%
FREE CASH FLOW
Cash From Operating Activities $2.454B $5.859B $96.00M
Capital Expenditures -$508.0M -$1.665B -$506.0M
Free Cash Flow $2.962B $7.524B $602.0M
YoY Change 392.03% 175.0% -73.75%

Facts In Submission

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CY2021 us-gaap Prior Period Reclassification Adjustment Description
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<div style="padding-left:18pt"><span style="color:#0070ab;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Reclassifications</span></div><div style="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 in the consolidated statements of cash flows have been reclassified to conform to the 2021 presentation. Prior year amounts that were presented separately for our acquisition of ethanol plants and our acquisitions of undivided interests have been combined into “other investing activities, net.”</span></div>
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<div style="padding-left:18pt"><span style="color:#0070ab;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="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 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>
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CY2020Q4 us-gaap Finance Lease Liability
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CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P7Y1M6D
CY2021Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P14Y3M18D
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y7M6D
CY2020Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P14Y6M
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OperatingLeaseWeightedAverageDiscountRatePercent
0.042
CY2021Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
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CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
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CY2020Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.041
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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351000000 USD
CY2021Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
228000000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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280000000 USD
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Two
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230000000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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207000000 USD
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Three
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214000000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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142000000 USD
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
213000000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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111000000 USD
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Five
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190000000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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417000000 USD
CY2021Q4 us-gaap Finance Lease Liability Payments Due After Year Five
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1629000000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
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CY2021Q4 us-gaap Finance Lease Liability Payments Due
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CY2021Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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253000000 USD
CY2021Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
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CY2021Q4 us-gaap Operating Lease Liability
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CY2021Q4 us-gaap Finance Lease Liability
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1920000000 USD
CY2021Q4 us-gaap Goodwill
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260000000 USD
CY2020Q4 us-gaap Goodwill
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260000000 USD
CY2021Q4 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
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2293000000 USD
CY2020Q4 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
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1902000000 USD
CY2021Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
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49072000000 USD
CY2020Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
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46967000000 USD
CY2021Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
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18225000000 USD
CY2020Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
16578000000 USD
CY2021Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
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30847000000 USD
CY2020Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
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30389000000 USD
CY2021 us-gaap Depreciation
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1700000000 USD
CY2020 us-gaap Depreciation
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1600000000 USD
CY2019 us-gaap Depreciation
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1500000000 USD
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218000000 USD
CY2021Q4 vlo Deferred Turnaroundand Catalyst Costs Net
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1853000000 USD
CY2020Q4 vlo Deferred Turnaroundand Catalyst Costs Net
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CY2021Q4 us-gaap Operating Lease Right Of Use Asset
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CY2020Q4 us-gaap Operating Lease Right Of Use Asset
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CY2021Q4 us-gaap Equity Method Investments
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CY2020Q4 us-gaap Equity Method Investments
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CY2020Q4 us-gaap Income Taxes Receivable Noncurrent
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CY2020Q4 us-gaap Intangible Assets Net Excluding Goodwill
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248000000 USD
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CY2020Q4 us-gaap Other Assets Miscellaneous Noncurrent
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565000000 USD
CY2021Q4 us-gaap Other Assets Noncurrent
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CY2020Q4 us-gaap Other Assets Noncurrent
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5541000000 USD
CY2021 us-gaap Other Amortization Of Deferred Charges
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CY2020 us-gaap Other Amortization Of Deferred Charges
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CY2019 us-gaap Other Amortization Of Deferred Charges
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CY2020Q4 us-gaap Operating Lease Liability Current
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285000000 USD
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
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940000000 USD
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
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885000000 USD
CY2021Q4 us-gaap Liability For Uncertain Tax Positions Noncurrent
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863000000 USD
CY2020Q4 us-gaap Liability For Uncertain Tax Positions Noncurrent
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859000000 USD
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41000000 USD
CY2020Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Current Liabilities
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45000000 USD
CY2021Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
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601000000 USD
CY2020Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
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878000000 USD
CY2021Q4 vlo Tax Liabilities Undistributed Foreign Earnings Noncurrent
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367000000 USD
CY2020Q4 vlo Tax Liabilities Undistributed Foreign Earnings Noncurrent
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422000000 USD
CY2021Q4 us-gaap Accrued Environmental Loss Contingencies Current
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35000000 USD
CY2020Q4 us-gaap Accrued Environmental Loss Contingencies Current
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59000000 USD
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269000000 USD
CY2020Q4 us-gaap Accrued Environmental Loss Contingencies Noncurrent
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272000000 USD
CY2021Q4 us-gaap Employee Related Liabilities Current
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CY2020Q4 us-gaap Employee Related Liabilities Current
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210000000 USD
CY2021Q4 us-gaap Deferred Compensation Liability Classified Noncurrent
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CY2020Q4 us-gaap Deferred Compensation Liability Classified Noncurrent
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CY2020Q4 us-gaap Interest Payable Current
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CY2021Q4 us-gaap Contract With Customer Liability Current
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CY2020Q4 us-gaap Contract With Customer Liability Current
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55000000 USD
CY2021Q4 vlo Blending Program Obligations Current
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CY2020Q4 vlo Blending Program Obligations Current
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CY2020Q4 us-gaap Other Accrued Liabilities Current
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CY2021Q4 us-gaap Other Accrued Liabilities Noncurrent
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231000000 USD
CY2020Q4 us-gaap Other Accrued Liabilities Noncurrent
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180000000 USD
CY2021Q4 us-gaap Accrued Liabilities Current
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1253000000 USD
CY2020Q4 us-gaap Accrued Liabilities Current
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994000000 USD
CY2021Q4 us-gaap Debt Longterm And Shortterm Combined Amount
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11950000000 USD
CY2020Q4 us-gaap Debt Longterm And Shortterm Combined Amount
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3404000000 USD
CY2020Q4 us-gaap Other Liabilities Noncurrent
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3620000000 USD
CY2021Q4 vlo Tax Liabilities Undistributed Foreign Earnings Current
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0 USD
CY2020Q4 vlo Tax Liabilities Undistributed Foreign Earnings Current
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54000000 USD
CY2021Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
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86000000 USD
CY2020Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
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90000000 USD
CY2021Q4 us-gaap Finance Lease Liability
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1920000000 USD
CY2020Q4 us-gaap Finance Lease Liability
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1664000000 USD
CY2021Q4 us-gaap Debt And Capital Lease Obligations
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CY2020Q4 us-gaap Debt And Capital Lease Obligations
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CY2021Q4 us-gaap Debt Current
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CY2020Q4 us-gaap Debt Current
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CY2021Q4 us-gaap Long Term Debt And Capital Lease Obligations
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CY2020Q4 us-gaap Long Term Debt And Capital Lease Obligations
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CY2020 us-gaap Interest Costs Incurred
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CY2019 us-gaap Interest Costs Incurred
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544000000 USD
CY2021 us-gaap Interest Costs Capitalized Adjustment
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48000000 USD
CY2020 us-gaap Interest Costs Capitalized Adjustment
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75000000 USD
CY2019 us-gaap Interest Costs Capitalized Adjustment
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90000000 USD
CY2021 us-gaap Interest Expense
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CY2020 us-gaap Interest Expense
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CY2019 us-gaap Interest Expense
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155000000 USD
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
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1110000000 USD
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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20000000 USD
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
169000000 USD
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
1374000000 USD
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
1726000000 USD
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
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CY2021Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
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86000000 USD
CY2021Q4 us-gaap Long Term Debt
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CY2021Q4 us-gaap Preferred Stock Shares Authorized
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20000000 shares
CY2021Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
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CY2020Q4 us-gaap Preferred Stock Shares Outstanding
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CY2021Q4 us-gaap Preferred Stock Shares Outstanding
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CY2021Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
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1400000000 USD
CY2021 us-gaap Other Comprehensive Income Loss Before Tax
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329000000 USD
CY2021 us-gaap Other Comprehensive Income Loss Tax
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82000000 USD
CY2021 us-gaap Other Comprehensive Income Loss Net Of Tax
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247000000 USD
CY2020 us-gaap Other Comprehensive Income Loss Before Tax
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CY2020 us-gaap Other Comprehensive Income Loss Tax
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CY2020 us-gaap Other Comprehensive Income Loss Net Of Tax
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99000000 USD
CY2019 us-gaap Other Comprehensive Income Loss Before Tax
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107000000 USD
CY2019 us-gaap Other Comprehensive Income Loss Tax
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CY2021 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
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CY2021 vlo Other Comprehensive Income Loss Net Of Tax Effect Of Exchange Rates Portion Attributable To Parent
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2000000 USD
CY2019 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
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147000000 USD
CY2019 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
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CY2019 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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156000000 USD
CY2020 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
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69000000 USD
CY2020 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
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CY2020 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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97000000 USD
CY2021 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
177000000 USD
CY2021 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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246000000 USD
CY2021 us-gaap Defined Benefit Plan Year Health Care Cost Trend Rate Reaches Ultimate Trend Rate
DefinedBenefitPlanYearHealthCareCostTrendRateReachesUltimateTrendRate
2026
CY2020 us-gaap Defined Benefit Plan Year Health Care Cost Trend Rate Reaches Ultimate Trend Rate
DefinedBenefitPlanYearHealthCareCostTrendRateReachesUltimateTrendRate
2026
CY2021Q4 vlo Percentage Excess Of Unrecognized Loss Over Higher Of Projected Benefit Obligation Or Market Related Value Of Plan Assets Of Which Losses Are Amortized Percentage
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0.10
CY2021Q4 us-gaap Defined Benefit Plan Health Care Cost Trend Rate Assumed Next Fiscal Year
DefinedBenefitPlanHealthCareCostTrendRateAssumedNextFiscalYear
0.0661
CY2020Q4 us-gaap Defined Benefit Plan Health Care Cost Trend Rate Assumed Next Fiscal Year
DefinedBenefitPlanHealthCareCostTrendRateAssumedNextFiscalYear
0.0683
CY2021Q4 us-gaap Defined Benefit Plan Ultimate Health Care Cost Trend Rate1
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0.0500
CY2020Q4 us-gaap Defined Benefit Plan Ultimate Health Care Cost Trend Rate1
DefinedBenefitPlanUltimateHealthCareCostTrendRate1
0.0500
CY2021 us-gaap Defined Contribution Plan Cost Recognized
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82000000 USD
CY2020 us-gaap Defined Contribution Plan Cost Recognized
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80000000 USD
CY2019 us-gaap Defined Contribution Plan Cost Recognized
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77000000 USD
CY2021 us-gaap Share Based Compensation
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88000000 USD
CY2020 us-gaap Share Based Compensation
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80000000 USD
CY2019 us-gaap Share Based Compensation
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89000000 USD
CY2021 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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13000000 USD
CY2020 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
13000000 USD
CY2019 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
19000000 USD
CY2021 us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions
1000000 USD
CY2020 us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions
1000000 USD
CY2019 us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions
17000000 USD
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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1023000000 USD
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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2496000000 USD
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
520000000 USD
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
62000000 USD
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
990000000 USD
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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1543000000 USD
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-2010000000 USD
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
3486000000 USD
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
288000000 USD
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.187
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
69000000 USD
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.045
CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
-48000000 USD
CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
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-0.031
CY2021 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
64000000 USD
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.041
CY2021 vlo Effective Income Tax Rate Reconciliation Nol Carryback Cares Act Amount
EffectiveIncomeTaxRateReconciliationNOLCarrybackCARESActAmount
-56000000 USD
CY2021 vlo Effective Income Tax Rate Reconciliation Nol Carryback Cares Act Percent
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-0.036
CY2021 vlo Effective Income Tax Rate Reconciliation Tax Cutsand Jobs Actof2017 Minimum Taxon Incomeof International Subsidiaries Amount
EffectiveIncomeTaxRateReconciliationTaxCutsandJobsActof2017MinimumTaxonIncomeofInternationalSubsidiariesAmount
125000000 USD
CY2021 vlo Effective Income Tax Rate Reconciliation Tax Cutsand Jobs Actof2017 Minimum Taxon Incomeof International Subsidiaries Percent
EffectiveIncomeTaxRateReconciliationTaxCutsandJobsActof2017MinimumTaxonIncomeofInternationalSubsidiariesPercent
0.081
CY2021 us-gaap Income Tax Reconciliation Tax Credits Foreign
IncomeTaxReconciliationTaxCreditsForeign
103000000 USD
CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Foreign
EffectiveIncomeTaxRateReconciliationTaxCreditsForeign
0.067
CY2021 us-gaap Income Tax Reconciliation Tax Settlements
IncomeTaxReconciliationTaxSettlements
-22000000 USD
CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Settlements
EffectiveIncomeTaxRateReconciliationTaxSettlements
-0.014
CY2021 us-gaap Income Tax Reconciliation Minority Interest Income Expense
IncomeTaxReconciliationMinorityInterestIncomeExpense
44000000 USD
CY2021 us-gaap Effective Income Tax Rate Reconciliation Minority Interest Income Expense
EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense
0.029
CY2021 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-18000000 USD
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.012
CY2021 us-gaap Income Tax Expense Benefit
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255000000 USD
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
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CY2020 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-445000000 USD
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.221
CY2020 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
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CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.003
CY2020 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
-8000000 USD
CY2020 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
0.004
CY2020 vlo Effective Income Tax Rate Reconciliation Nol Carryback Cares Act Amount
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-360000000 USD
CY2020 vlo Effective Income Tax Rate Reconciliation Nol Carryback Cares Act Percent
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0.179
CY2020 vlo Effective Income Tax Rate Reconciliation Lapse Of Applicable Statute Of Limitations Amount
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39000000 USD
CY2020 vlo Effective Income Tax Rate Reconciliation Lapse Of Applicable Statute Of Limitations Percent
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-0.019
CY2020 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
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InterestPaidNet
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InterestPaidNet
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IncomeTaxesPaidNet
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IncomeTaxesPaidNet
203000000 USD
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IncomeTaxesPaidNet
-116000000 USD
CY2021 us-gaap Operating Lease Payments
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397000000 USD
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72000000 USD
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444000000 USD
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FinanceLeaseInterestPaymentOnLiability
97000000 USD
CY2019 us-gaap Operating Lease Payments
OperatingLeasePayments
441000000 USD
CY2019 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
50000000 USD
CY2021 us-gaap Operating Lease Payments Use
OperatingLeasePaymentsUse
1000000 USD
CY2020 us-gaap Operating Lease Payments Use
OperatingLeasePaymentsUse
1000000 USD
CY2019 us-gaap Operating Lease Payments Use
OperatingLeasePaymentsUse
1000000 USD
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FinanceLeasePrincipalPayments
135000000 USD
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FinanceLeasePrincipalPayments
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CY2019 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
40000000 USD
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
451000000 USD
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
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378000000 USD
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
263000000 USD
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
950000000 USD
CY2019 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1756000000 USD
CY2019 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
239000000 USD
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
4122000000 USD
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3313000000 USD
CY2021Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
11950000000 USD
CY2020Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
13013000000 USD
CY2021 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
We do not require any collateral or other security to support derivative instruments into which we enter.
CY2021 dei Auditor Name
AuditorName
KPMG LLP
CY2021 dei Auditor Firm
AuditorFirmId
185
CY2021 dei Auditor Location
AuditorLocation
San Antonio, Texas

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