$VLO
VALERO ENERGY CORP/TX
CIK:0001035002|SEC Filings
Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Millions |
6 Months Ended | |||
|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
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| Cash flows from operating activities: | ||||
| Net income | $ 5,395 | $ 11 | ||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||
| Depreciation and amortization expense | 1,577 | 1,505 | ||
| Asset impairment loss | 0 | 1,131 | ||
| Deferred income tax benefit | (268) | (259) | ||
| Changes in operating assets and liabilities: | ||||
| Current assets and current liabilities (see Note 11) | 403 | (168) | ||
| Deferred charges and other assets | (57) | (50) | ||
| Long-term liabilities | (180) | (56) | ||
| Other operating activities, net | 100 | (226) | ||
| Net cash provided by operating activities | 6,970 | 1,888 | ||
| Cash flows from investing activities: | ||||
| Investments in nonconsolidated joint ventures | 0 | (1) | ||
| Other investing activities, net | 37 | 20 | ||
| Net cash used in investing activities | (761) | (1,047) | ||
| Cash flows from financing activities: | ||||
| Purchases of common stock for treasury | (2,836) | (612) | ||
| Payment of excise tax on purchases of common stock for treasury | (25) | (28) | ||
| Common stock dividend payments | (714) | (710) | ||
| Contributions from noncontrolling interests | 191 | 97 | ||
| Distributions to noncontrolling interests | (222) | (131) | ||
| Other financing activities, net | (9) | (6) | ||
| Net cash used in financing activities | (2,909) | (1,231) | ||
| Effect of foreign exchange rate changes on cash | (111) | 273 | ||
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 3,189 | (117) | ||
| Cash, cash equivalents, and restricted cash at beginning of period | [1] | 4,865 | 4,829 | |
| Cash, cash equivalents, and restricted cash at end of period | [1] | 8,054 | 4,712 | |
| Excluding Variable Interest Entities (VIEs) [Member] | ||||
| Cash flows from investing activities: | ||||
| Capital expenditures | (382) | (333) | ||
| Deferred turnaround and catalyst cost expenditures | (374) | (621) | ||
| Cash flows from financing activities: | ||||
| Proceeds from debt issuances and borrowings | 2,700 | 4,749 | ||
| Repayments of debt and finance lease obligations | (1,959) | (4,656) | ||
| Diamond Green Diesel Holdings LLC (DGD) [Member] | ||||
| Cash flows from investing activities: | ||||
| Capital expenditures | (7) | (63) | ||
| Deferred turnaround and catalyst cost expenditures | (33) | (46) | ||
| Cash flows from financing activities: | ||||
| Proceeds from debt issuances and borrowings | 450 | 300 | ||
| Repayments of debt and finance lease obligations | (464) | (213) | ||
| Other VIEs [Member] | ||||
| Cash flows from investing activities: | ||||
| Capital expenditures | (2) | (3) | ||
| Cash flows from financing activities: | ||||
| Repayments of debt and finance lease obligations | $ (21) | $ (21) | ||
| ||||
Consolidated Balance Sheets - USD ($) $ in Millions |
Jun. 30, 2026 |
Dec. 31, 2025 |
|---|---|---|
| Current assets: | ||
| Cash and cash equivalents | $ 7,874 | $ 4,688 |
| Receivables, net | 13,928 | 9,877 |
| Inventories | 7,625 | 7,591 |
| Prepaid expenses and other | 1,243 | 1,054 |
| Total current assets | 30,670 | 23,210 |
| Property, plant, and equipment, at cost | 50,094 | 50,091 |
| Accumulated depreciation | (23,249) | (22,474) |
| Property, plant, and equipment, net | 26,845 | 27,617 |
| Deferred charges and other assets, net | 7,148 | 7,161 |
| Total assets | 64,663 | 57,988 |
| Current liabilities: | ||
| Current portion of debt and finance lease obligations | 927 | 949 |
| Accounts payable | 14,423 | 10,139 |
| Accrued expenses | 1,338 | 1,403 |
| Taxes other than income taxes payable | 1,574 | 1,550 |
| Income taxes payable | 480 | 68 |
| Total current liabilities | 18,742 | 14,109 |
| Debt and finance lease obligations, less current portion | 10,422 | 9,670 |
| Net deferred income tax liabilities | 4,886 | 5,146 |
| Other long-term liabilities | 2,345 | 2,458 |
| Commitments and contingencies | ||
| Valero Energy Corporation stockholders’ equity: | ||
| Common stock, $0.01 par value; 1,200,000,000 shares authorized; 673,501,593 and 673,501,593 shares issued | 7 | 7 |
| Additional paid-in capital | 7,014 | 6,981 |
| Treasury stock, at cost; 385,570,622 and 374,561,457 common shares | (33,575) | (30,753) |
| Retained earnings | 52,228 | 47,959 |
| Accumulated other comprehensive loss | (673) | (469) |
| Total Valero Energy Corporation stockholders’ equity | 25,001 | 23,725 |
| Noncontrolling interests | 3,267 | 2,880 |
| Total equity | 28,268 | 26,605 |
| Total liabilities and equity | $ 64,663 | $ 57,988 |