Valero Energy Corporation (VLO) · 38 Years of Financial statements

Income Statement

Revenue

2,662

1,880

629

771

941

1,169

1,012

1,235

1,222

1,837

3,020

4,991

5,756

5,539

7,961

14,671

14,988

26,976

37,969

54,618

82,161

91,832

95,327

119,114

68,144

82,233

125,987

139,250

138,074

130,844

87,804

75,659

93,980

117,033

108,324

65,652

113,977

176,383

COGS

2,338

1,652

653

698

837

885

741

1,052

1,067

1,609

2,618

4,570

5,426

5,442

7,685

13,757

13,684

25,127

35,243

49,938

74,599

81,267

85,661

111,984

65,270

78,419

120,202

131,954

131,633

122,528

78,894

69,422

89,433

111,439

103,546

124,585

110,895

159,632

Gross Profit

324

228

(24)

72

104

284

271

182

155

228

402

421

330

97

277

915

1,304

1,850

2,726

4,680

7,562

10,565

9,666

7,130

2,874

3,814

5,785

7,296

6,441

8,316

8,910

6,237

4,547

5,594

4,778

(58,933)

3,082

16,751

Gross Profit Ratio

12.17%

12.13%

(3.82)%

9.40%

11.06%

24.29%

26.80%

14.76%

12.68%

12.43%

13.32%

8.44%

5.73%

1.75%

3.47%

6.23%

8.70%

6.86%

7.18%

8.57%

9.20%

11.50%

10.14%

5.99%

4.22%

4.64%

4.59%

5.24%

4.66%

6.36%

10.15%

8.24%

4.84%

4.78%

4.41%

(89.77)%

2.70%

9.50%

Operating Expenses

194

286

33

34

150

152

48

80

102

213

220

119

148

208

304

303

1,379

1,504

1,701

2,103

2,555

2,748

6,567

2,702

1,936

2,105

2,272

2,478

2,414

2,552

2,609

948

1,022

942

4,435

952

1,000

R&D Expenses

- -

Selling, G&A Exp.

128

- -

114

115

- -

78

82

54

70

69

131

165

929

993

1,084

1,229

1,401

1,388

1,327

1,274

531

571

698

758

724

710

715

835

925

868

756

865

934

General and Admin. Exp.

- -

54

70

69

131

165

- -

572

- -

571

698

758

724

710

715

835

925

868

756

865

934

Selling and Marketing Exp.

- -

702

- -

Other Expenses

66

158

33

34

36

37

48

80

102

135

138

65

79

139

173

138

449

511

618

874

1,154

1,360

5,240

1,428

1,405

1,534

1,574

1,720

1,690

1,842

1,894

113

97

74

3,679

87

66

COGS and Expenses

2,531

1,938

686

732

872

1,035

893

1,101

1,147

1,712

2,831

4,790

5,545

5,591

7,892

14,060

13,987

26,505

36,747

51,639

76,702

83,822

88,409

118,551

67,972

80,355

122,307

134,226

134,111

124,942

81,446

72,031

90,381

112,461

104,488

129,020

111,847

160,632

Interest Income

- -

Interest Expense

- -

408

484

401

313

365

397

433

446

468

470

454

563

603

562

Depreciation and Amortization

66

158

33

34

36

37

48

80

102

135

138

65

79

139

173

252

449

511

618

875

1,155

1,376

1,476

1,527

1,473

1,534

1,574

1,720

1,690

1,842

1,894

1,986

2,069

2,255

2,351

2,405

2,473

EBITDA

132

(24)

42

68

94

181

183

180

148

145

230

252

225

(4)

159

701

1,147

599

1,497

3,328

6,161

9,343

8,771

1,812

(144)

2,856

5,251

5,596

6,059

7,494

8,135

5,394

5,570

6,540

5,833

904

4,193

17,991

EBITDA ratio

4.97%

(1.26)%

6.73%

8.84%

9.95%

15.50%

18.09%

14.55%

12.08%

7.90%

7.63%

5.05%

3.91%

(0.08)%

2.00%

4.78%

7.65%

2.22%

3.94%

6.09%

7.50%

10.17%

9.20%

1.52%

(0.21)%

3.47%

4.17%

4.02%

4.39%

5.73%

9.26%

7.13%

5.93%

5.59%

5.38%

1.38%

3.68%

10.20%

Operating Income

130

(58)

(57)

39

70

134

119

134

76

126

189

201

211

(51)

69

611

1,001

471

1,222

2,979

5,459

8,010

6,918

563

(58)

1,876

3,680

4,010

3,963

5,902

6,358

3,572

3,599

4,572

3,836

(1,579)

2,130

15,751

Operating Income ratio

4.89%

(3.08)%

(9.12)%

5.02%

7.40%

11.50%

11.79%

10.85%

6.18%

6.85%

6.25%

4.03%

3.67%

(0.93)%

0.87%

4.16%

6.68%

1.75%

3.22%

5.45%

6.64%

8.72%

7.26%

0.47%

(0.09)%

2.28%

2.92%

2.88%

2.87%

4.51%

7.24%

4.72%

3.83%

3.91%

3.54%

(2.41)%

1.87%

8.93%

Total Other Income Exp.(Gains)

(64)

(124)

81

(4)

(10)

11

27

(3)

(7)

(83)

(94)

(87)

(35)

(32)

(49)

(83)

(106)

(321)

(235)

(269)

(172)

179

(192)

(227)

(391)

(378)

(358)

(304)

19

(350)

(387)

(390)

(392)

(340)

(350)

(431)

(587)

(444)

Income Before Tax

66

(182)

23

34

59

146

131

68

43

95

114

176

(83)

20

528

895

150

987

2,710

5,287

8,189

6,726

336

(449)

1,498

3,322

3,706

3,982

5,552

5,971

3,182

3,207

4,232

3,486

(2,010)

1,543

15,307

Income Before Tax ratio

2.49%

(9.67)%

3.71%

4.46%

6.30%

12.46%

14.47%

10.64%

5.58%

2.33%

3.15%

2.28%

3.05%

(1.50)%

0.25%

3.60%

5.97%

0.55%

2.60%

4.96%

6.43%

8.92%

7.06%

0.28%

(0.66)%

1.82%

2.64%

2.66%

2.88%

4.24%

6.80%

4.21%

3.41%

3.62%

3.22%

(3.06)%

1.35%

8.68%

Income Tax Expense (Gain)

32

(82)

(9)

4

18

51

48

32

16

35

41

64

(36)

6

189

331

58

365

906

1,697

2,726

2,161

1,467

(97)

575

1,226

1,626

1,254

1,777

1,870

765

(949)

879

702

(903)

255

3,428

Net Income

35

(100)

18

31

42

95

99

84

36

27

60

73

96

(47)

14

339

564

92

622

1,803

3,589

5,462

5,234

(1,131)

(1,982)

324

2,090

2,083

2,720

3,630

3,990

2,289

4,065

3,122

2,422

(1,107)

930

11,528

Net Income Ratio

1.30%

(5.31)%

2.80%

3.97%

4.41%

8.10%

9.75%

6.80%

2.98%

1.46%

1.98%

1.46%

1.67%

(0.85)%

0.18%

2.31%

3.76%

0.34%

1.64%

3.30%

4.37%

5.95%

5.49%

(0.95)%

(2.91)%

0.39%

1.66%

1.50%

1.97%

2.77%

4.54%

3.03%

4.33%

2.67%

2.24%

(1.69)%

0.82%

6.54%

EPS

0.27

(1.09)

0.06

0.14

0.24

0.58

0.57

0.48

0.20

0.04

0.28

0.35

0.44

(0.21)

0.06

1.45

2.32

0.21

1.34

3.51

6.51

8.94

9.27

(2.16)

(3.67)

0.57

3.69

3.77

4.99

6.88

8.00

4.94

9.17

7.30

5.84

(3.50)

2.29

29.11

EPS Diluted

0.27

(1.09)

0.06

0.14

0.24

0.58

0.57

0.48

0.20

0.04

0.28

0.35

0.43

(0.21)

0.06

1.40

2.21

0.21

1.27

3.27

6.10

8.64

8.88

(2.16)

(3.67)

0.57

3.68

3.75

4.97

6.85

7.99

4.94

9.16

7.29

5.84

(3.50)

2.29

29.11

Weighted Avg. Shares Outs.

94

100

103

104

115

152

163

170

171

387

175

207

224

234

243

423

460

510

549

611

565

524

541

563

550

542

526

497

461

442

426

413

407

396

Weighted Avg. Shares Outs. Dil.

94

100

103

104

119

152

163

170

171

387

175

221

224

227

242

255

440

488

552

588

632

579

524

541

568

569

556

548

530

500

464

444

428

414

407

396

SEC Link

Link

Balance Sheet

Cash and Cash Equivalents

- -

10

11

60

15

269

379

369

864

436

1,590

2,464

940

825

3,334

1,024

1,723

4,292

3,689

4,114

4,816

5,850

2,982

2,583

3,313

4,122

4,862

Short-Term Investments

- -

Cash & Short-Term Investments

- -

10

11

60

15

269

379

369

864

436

1,590

2,464

940

825

3,334

1,024

1,723

4,292

3,689

4,114

4,816

5,850

2,982

2,583

3,313

4,122

4,862

Net Receivables

- -

366

284

373

586

918

1,558

1,328

1,839

3,564

4,421

7,691

3,094

4,661

4,926

8,918

8,336

8,823

5,976

4,682

5,959

6,922

7,345

8,904

6,109

10,378

11,919

Inventory

- -

369

316

303

540

1,453

1,436

1,913

2,318

4,039

4,430

4,184

4,637

4,863

4,947

5,623

5,973

5,758

6,623

5,898

5,709

6,384

6,532

7,013

6,038

6,265

6,752

Other Current Assets

- -

43

29

93

145

1,473

163

207

244

237

319

453

779

574

311

407

428

404

326

278

316

156

816

469

384

400

600

Total Current Assets

- -

789

640

829

1,285

4,113

3,536

3,817

5,264

8,276

10,760

14,792

9,450

10,923

13,518

15,972

16,460

19,277

16,614

14,972

16,800

19,312

17,675

18,969

15,844

21,165

24,133

PP&E

- -

1,593

1,959

1,985

2,677

7,260

7,412

8,195

10,317

17,856

21,098

21,709

23,213

23,012

22,669

25,177

26,300

25,707

26,735

26,703

26,472

27,480

28,848

29,264

31,593

32,131

30,978

Goodwill

- -

2,210

- -

4,211

4,061

- -

260

- -

Intangible Assets

- -

367

2,921

2,722

2,712

5,224

303

290

224

227

224

227

- -

307

283

248

218

- -

Goodwill and Intangible Assets

- -

2,577

2,921

2,722

2,712

5,224

4,514

4,351

224

227

224

227

213

156

- -

156

148

142

567

543

508

478

- -

Investments

- -

201

530

542

2,271

972

734

- -

Tax Assets

- -

Other Non-Current Assets

- -

112

127

166

346

426

596

930

1,098

1,372

1,381

1,870

1,530

1,467

1,210

1,407

1,504

2,120

2,201

2,311

2,552

2,694

2,523

2,817

2,857

3,380

5,871

Total Non-Current Assets

- -

1,704

2,086

2,150

3,023

10,264

10,929

11,847

14,127

24,452

26,993

27,930

24,967

24,706

24,103

26,811

28,017

27,983

28,936

29,371

29,373

30,846

32,480

34,895

35,930

36,723

36,849

Other Assets

- -

Total Assets

- -

2,493

2,726

2,979

4,308

14,377

14,465

15,664

19,392

32,728

37,753

42,722

34,417

35,629

37,621

42,783

44,477

47,260

45,550

44,343

46,173

50,158

50,155

53,864

51,774

57,888

60,982

Accounts Payable

- -

414

283

617

807

1,375

1,825

2,288

2,963

5,563

6,864

9,596

4,446

5,760

6,441

9,472

9,348

9,931

6,760

4,907

6,357

8,348

8,594

10,205

6,082

12,495

12,728

Short-Term Debt

- -

122

160

- -

27

506

477

- -

412

222

476

392

312

237

822

1,009

586

303

606

127

115

122

238

825

1,008

1,579

1,109

Tax Payable

- -

820

674

1,383

1,027

2,118

1,642

1,406

1,162

1,889

1,262

1,512

1,484

1,839

1,568

Deferred Revenue

- -

55

56

78

- -

Other Current Liabilities

- -

61

55

102

205

2,850

705

776

1,159

1,520

1,482

1,926

1,451

981

847

844

968

771

972

920

694

712

630

563

653

860

2,056

Total Current Liabilities

- -

597

498

719

1,039

4,730

3,007

3,064

4,534

7,305

8,822

11,914

6,209

7,798

8,784

12,708

11,929

13,123

9,980

7,360

8,328

11,071

10,724

13,160

9,283

16,851

17,461

Long-Term Debt

- -

430

822

786

1,042

2,517

4,494

4,239

3,893

5,109

4,576

6,470

6,264

- -

6,463

6,261

5,780

7,250

7,886

8,750

8,871

9,178

14,839

13,546

2,146

Deferred Revenue

- -

Deferred Tax Liabilities

- -

257

210

276

407

1,388

1,301

1,605

2,011

3,615

4,047

4,021

4,163

4,063

4,530

5,017

5,860

6,601

6,607

6,768

7,361

4,708

4,962

5,103

5,275

5,210

5,217

Other Non-Current Liabilities

- -

50

110

115

120

1,423

1,239

1,021

1,156

1,649

1,703

1,810

2,161

9,043

9,282

8,613

2,130

1,329

1,939

1,611

1,744

2,729

2,867

3,887

2,735

2,464

10,690

Total Non-Current Liabilities

- -

737

1,143

1,176

1,569

5,329

7,034

6,865

7,060

10,373

10,326

12,301

12,588

13,106

13,812

13,630

14,453

14,191

14,326

15,629

16,991

16,187

16,700

18,168

22,849

21,220

18,053

Other Liabilities

- -

Capital Lease Obligations

- -

6

8

47

81

- -

7,163

7,515

6,732

- -

1,290

1,170

3,175

2,394

Total Liabilities

- -

1,334

1,640

1,895

2,608

10,059

10,041

9,929

11,594

17,678

19,148

24,215

18,797

20,904

22,596

26,338

26,382

27,314

24,306

22,989

25,319

27,258

27,424

31,328

32,132

38,071

35,514

Preferred Stock

- -

201

208

68

- -

Common Stock

- -

1

3

6

7

Retained Earnings

- -

48

(18)

(3)

322

864

914

1,483

3,200

6,673

11,951

16,914

15,484

13,178

13,388

15,309

17,032

18,970

22,046

25,188

26,366

29,200

31,044

31,974

28,953

28,281

38,247

Other Compreh. Income(Loss)

- -

(540)

(613)

(702)

(804)

(937)

(1)

170

229

335

265

573

(176)

365

388

96

108

350

(367)

(933)

(1,410)

(940)

(1,507)

(1,351)

(1,254)

(1,008)

(1,359)

Other Total Stockhold. Equity

- -

1,651

1,716

1,790

2,009

4,274

3,395

3,881

4,159

7,968

6,383

1,014

306

1,175

1,242

1,011

885

133

(1,009)

(3,735)

(4,939)

(6,276)

(7,877)

(8,827)

(8,905)

(8,850)

- -

Total Stockholders Equity

- -

1,159

1,085

1,527

4,203

4,308

5,735

7,798

15,050

18,605

18,507

15,620

14,725

15,025

16,423

18,032

19,460

20,677

20,527

20,024

21,991

21,667

21,803

18,801

18,430

23,561

Total Liab.&Stockhold. Equity

- -

2,493

2,726

2,979

4,135

14,261

14,349

15,664

19,392

32,728

37,753

42,722

34,417

35,629

37,621

42,761

44,414

46,774

44,983

43,516

45,343

49,249

49,091

53,131

50,933

56,501

59,075

Minority Interest

- -

Total Liabilities & Equity

- -

2,493

2,726

2,979

4,135

14,261

14,349

15,664

19,392

32,728

37,753

42,722

34,417

35,629

37,621

42,761

44,414

46,774

44,983

43,516

45,343

49,249

49,091

53,131

50,933

56,501

59,075

SEC Link

Link

Cash Flow Statement

Net Income

- -

42

95

99

84

36

27

60

73

96

(47)

14

339

564

92

622

1,803

3,589

5,462

5,234

(1,131)

(1,982)

324

2,090

2,083

2,720

3,630

3,990

2,289

4,065

3,122

2,422

(1,107)

930

11,879

Depreciation and Amortization

- -

34

36

37

48

80

102

135

138

65

79

139

173

252

449

511

618

875

1,155

1,376

1,476

1,527

1,473

1,534

1,574

1,720

1,690

1,842

1,894

1,986

2,069

2,255

2,351

2,405

2,473

Deferred Income Tax

- -

17

47

46

26

15

12

5

20

32

(32)

(9)

103

271

2

287

345

255

290

(131)

675

(343)

347

461

963

501

445

165

230

(2,543)

203

234

158

(126)

50

Stock Based Compensation

- -

66

54

58

64

60

- -

Change in Working Capital

- -

(51)

17

7

(26)

39

(96)

(32)

50

(8)

(46)

296

3

(153)

(261)

429

203

1,082

(407)

(484)

(1,775)

82

9

(116)

(419)

876

(1,728)

(1,287)

970

1,883

(1,254)

258

(435)

2,161

(210)

Accounts Receivable

- -

437

(753)

2,753

1,294

(1,531)

(870)

- -

Inventory

- -

11

- -

(67)

- -

(405)

(249)

(705)

(77)

(407)

643

(282)

(13)

(1,014)

(222)

771

(516)

(197)

(385)

1,007

(253)

- -

Accounts Payable

- -

1,475

670

2,004

(113)

977

(3,149)

(1,787)

1,556

1,842

304

1,534

(4,068)

6,301

- -

Other Working Capital

- -

192

142

110

3

(617)

530

429

203

1,082

(263)

(15)

(145)

(173)

(59)

(197)

(117)

(46)

82

19

(6)

594

43

(36)

(90)

(64)

- -

Other Non-Cash Items

- -

2

3

(5)

20

(29)

22

(12)

(6)

36

212

(5)

(17)

(28)

(9)

(432)

(12)

(2)

(188)

(737)

3,747

2,473

838

11

1,011

(317)

144

901

(563)

91

231

362

(19)

489

(13,531)

Cash Provided by Operating Activities

- -

43

196

183

153

141

68

156

276

221

166

435

601

906

272

1,416

2,957

5,799

6,312

5,258

2,992

1,823

3,045

4,038

5,270

5,564

4,241

5,611

4,820

5,482

4,371

5,531

948

5,859

661

CAPEX

- -

(37)

(138)

(230)

(283)

(160)

(81)

(125)

(129)

(122)

(501)

(101)

(195)

(394)

(811)

(976)

(1,292)

(2,133)

(3,187)

(2,260)

(2,790)

(2,327)

(1,730)

(2,355)

(2,931)

(2,121)

(2,153)

(1,618)

(1,278)

(1,379)

(1,752)

(1,994)

(1,788)

(1,555)

(788)

Acquisitions Net

- -

(890)

(1,905)

(24)

(51)

(595)

(2,343)

779

(86)

(169)

(585)

287

(2,275)

80

- -

(141)

(4)

(406)

(1,269)

(239)

(54)

261

- -

Purchases of Investments

- -

(9)

(6)

(134)

(2)

- -

(26)

(209)

- -

Sales/Maturities of Investments

- -

1

- -

8

2,428

487

27

330

- -

Other Investing Activities

- -

(18)

(75)

(58)

(37)

32

(16)

(22)

(29)

(366)

(66)

(72)

(109)

(1,003)

1,084

(305)

(799)

(424)

(545)

(455)

(390)

(2,713)

(2,022)

(3,023)

(3,431)

(2,812)

(2,844)

(2,346)

(2,002)

(1,976)

(2,659)

(2,762)

(2,371)

(2,420)

(2,805)

Cash Used for Investing Activities

- -

(55)

(213)

(288)

(329)

(134)

(230)

(149)

(156)

(487)

(566)

(172)

(1,194)

(3,302)

249

(1,331)

(2,685)

(4,900)

(2,971)

(582)

(2,862)

(3,292)

(1,405)

(5,298)

(3,351)

(2,812)

(2,844)

(2,487)

(2,006)

(2,382)

(3,928)

(3,001)

(2,425)

(2,159)

(2,805)

Debt Repayment

- -

(1,174)

(1,842)

(778)

(1,962)

(538)

(200)

(513)

(1,475)

(21)

(1,359)

(1,811)

(495)

(3,028)

(5,067)

Common Stock Issued

- -

64

- -

66

4

171

2

7

59

7

16

351

78

102

550

541

227

122

159

16

810

20

- -

369

- -

189

- -

36

- -

Common Stock Repurchased

- -

(6)

(1)

(46)

(1)

(6)

(11)

(35)

(14)

(64)

(157)

(46)

(73)

(317)

(571)

(2,020)

(5,788)

(955)

(4)

(13)

(349)

(281)

(928)

(1,296)

(2,838)

(1,336)

(1,372)

(1,708)

(1,727)

(156)

(27)

(4,577)

Dividends Paid

- -

(19)

(17)

(20)

(19)

(21)

(31)

(35)

(34)

(5)

- -

(18)

(19)

(21)

(42)

(51)

(79)

(106)

(184)

(271)

(299)

(324)

(114)

(169)

(360)

(462)

(554)

(848)

(1,111)

(1,242)

(1,369)

(1,492)

(1,600)

(1,602)

(1,562)

Other Financing Activities

- -

30

7

134

125

10

42

33

(95)

232

430

(198)

279

2,750

(427)

(562)

63

(881)

(106)

2,069

(369)

1,981

2,765

230

1,370

1,396

120

1,465

1,910

327

1,268

2,033

4,328

1,811

2,357

Cash Used/Provided by Financing Activities

- -

6

53

67

171

(8)

181

(5)

(128)

276

402

(214)

547

2,651

(412)

(136)

207

(1,331)

(2,188)

(3,831)

(1,607)

1,289

816

(1,066)

(1,233)

(163)

(1,930)

(2,545)

(2,012)

(2,272)

(3,168)

(2,997)

2,077

(2,846)

(8,849)

Effect of Forex Changes on Cash

- -

1

40

15

4

1

29

(47)

65

53

16

13

(20)

(70)

(154)

(100)

206

(143)

68

130

(45)

(180)

Net Change In Cash

- -

6

53

67

171

(8)

181

(5)

(128)

276

402

49

(45)

255

110

(10)

494

(428)

1,154

874

(1,524)

(115)

2,509

(2,310)

699

2,569

(603)

425

702

1,034

(2,868)

(399)

730

809

740

Cash at the End of Period

- -

60

15

269

379

369

864

436

1,590

2,464

940

825

3,334

1,024

1,723

4,292

3,689

4,114

4,816

5,850

2,982

2,583

3,313

4,122

4,862

Cash at the Beginning of Period

- -

21

15

52

14

8

7

26

28

- -

10

11

60

15

269

379

369

864

436

1,590

2,464

940

825

3,334

1,024

1,723

4,292

3,689

4,114

4,816

5,850

2,982

2,583

3,313

4,122

Free Cash Flow

- -

7

59

(47)

(130)

(18)

(13)

31

147

99

(335)

335

406

512

(539)

441

1,666

3,666

3,125

2,998

202

(504)

1,315

1,683

2,339

3,443

2,088

3,993

3,542

4,103

2,619

3,537

(840)

4,304

661

SEC Link

Link

Forex Rate

- -

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Valero Energy Corporation

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