Valero energy corp/tx (VLO)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10Dec'09Sep'09Jun'09Mar'09Sep'08Jun'08
Revenues

22,102

27,879

27,249

28,933

24,263

28,730

30,849

31,015

26,439

26,392

23,562

22,254

21,772

20,712

19,649

19,584

15,714

18,777

22,579

25,118

21,330

27,859

34,408

34,914

33,663

34,429

36,137

34,034

33,474

33,838

34,726

34,662

35,167

34,673

33,713

31,293

26,308

22,164

21,015

20,561

18,493

15,322

18,573

17,376

13,328

35,960

36,640

Cost of sales:
Cost of materials and other

19,952

24,080

24,335

26,083

21,978

25,415

27,701

27,860

23,756

23,671

20,329

19,609

19,428

18,302

17,033

17,120

13,507

15,627

18,677

21,394

18,163

24,321

31,023

32,167

30,630

31,177

33,931

31,523

30,685

30,517

31,312

31,621

33,035

32,738

30,033

28,380

24,568

20,260

18,915

18,227

17,056

14,256

17,212

16,014

11,204

32,506

33,673

Lower of cost or market (LCM) inventory valuation adjustment

2,542

-

-

-

0

-

-

-

-

-

-

-

-

0

0

-454

-293

790

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating expenses (excluding depreciation and amortization expense reflected below)

1,124

1,239

1,239

1,175

1,215

1,251

1,193

1,110

1,136

1,134

1,135

1,111

1,124

1,158

1,062

1,001

1,030

1,014

1,102

1,043

1,084

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

781

845

1,136

1,133

Depreciation and amortization expense

569

557

556

552

537

518

504

510

485

477

484

485

488

432

458

471

485

447

482

425

441

425

430

414

421

437

448

405

430

377

402

386

384

393

390

386

365

362

353

350

340

289

361

361

350

370

369

Total cost of sales

24,187

25,876

26,130

27,810

23,730

27,184

29,398

29,480

25,377

25,282

21,948

21,205

21,040

19,521

18,553

18,353

14,885

17,374

20,440

23,040

19,835

26,063

32,738

33,829

32,312

32,870

35,605

33,229

32,413

31,220

33,417

33,301

35,411

34,506

31,734

30,003

26,064

21,786

20,425

19,657

18,489

15,402

18,811

17,568

12,735

34,120

35,482

Other operating expenses

2

7

10

2

2

4

10

21

10

17

44

0

0

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Refining

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

987

967

972

-

954

909

876

751

930

868

964

979

870

813

744

734

753

693

764

-

772

-

-

-

-

Retail

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

57

169

172

178

170

166

170

177

169

162

170

169

163

152

104

182

171

169

201

190

Ethanol

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

118

111

129

-

102

102

77

84

76

85

87

97

103

104

95

96

96

91

80

-

59

-

-

-

-

General and administrative expenses (excluding depreciation and amortization expense reflected below)

177

243

217

199

209

230

209

248

238

237

225

175

192

202

192

159

156

206

179

178

147

214

180

170

160

179

170

233

176

189

174

171

164

129

161

151

130

164

139

131

97

138

167

122

145

169

117

Depreciation and amortization expense

13

14

11

14

14

13

13

13

13

13

13

14

12

-

12

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Asset impairment loss

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

56

-

-

0

0

-

-

-

-

-

-

-

-

-

-870

345

0

611

0

0

0

0

-

0

2

-

23

58

119

22

43

-

Gain on sale of Krotz Springs Refinery

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

305

-

Operating income (loss)

-2,277

1,739

881

908

308

1,299

1,219

1,253

801

843

1,332

860

528

582

892

1,231

829

646

2,139

2,078

1,495

1,796

1,670

1,085

1,351

1,559

532

805

1,061

2,618

1,309

1,361

-244

167

1,979

1,290

244

378

590

904

4

-80

-238

-192

593

1,840

1,158

Other income, net

32

36

34

12

22

42

42

-5

51

36

23

27

26

59

12

14

9

11

3

8

24

9

11

12

15

17

17

11

14

11

-2

-5

6

15

1

10

17

77

17

1

11

33

8

-23

-1

36

15

Interest Expense

125

119

111

112

112

114

111

124

121

114

114

119

121

112

115

111

108

107

112

113

101

101

98

98

100

102

102

78

83

71

70

74

99

89

88

107

117

101

119

117

147

29

150

118

119

112

107

Income (loss) before income tax expense (benefit)

-2,370

1,656

804

808

218

1,227

1,150

1,124

731

765

1,241

768

433

529

789

1,134

730

550

2,030

1,973

1,418

1,704

1,583

999

1,266

1,799

447

738

992

2,558

1,237

1,282

-337

93

1,892

1,193

144

-

488

788

-

-

-

-

-

-

-

Capitalized

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

20

-

-19

-34

-39

-31

-24

Income Tax Expense (Benefit)

-616

326

165

160

51

205

276

249

149

-1,635

378

196

112

113

144

291

217

155

657

608

450

484

521

343

429

515

123

276

340

515

564

452

95

48

689

449

40

154

185

268

-32

-65

-18

-108

148

643

356

Income from continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,220

1,062

656

837

-

324

462

-

-

-

-

-

45

1,203

744

104

212

303

520

-112

-125

-361

-299

512

1,795

1,090

Loss from discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-63

-1

-

0

3

-

-

-

-

-

0

0

-1

-6

-618

-11

63

-33

-

-

-

-

-

-

Net Income (Loss), Including Portion Attributable to Noncontrolling Interest

-1,754

1,330

639

648

167

1,022

874

875

582

2,400

863

572

321

416

645

843

513

395

1,373

1,365

968

1,220

1,062

593

836

1,287

324

465

652

1,009

673

830

-432

45

1,203

743

98

-

292

583

-

-

-

-

-

1,152

734

Less: Net income attributable to noncontrolling interests

97

270

30

36

26

70

18

30

113

29

22

24

16

49

32

29

18

97

-4

14

4

65

3

5

8

-1

12

-1

-2

-1

-1

-1

0

0

0

-1

0

-

0

0

-

-

-

-

-

-

-

Net Income (Loss) Attributable to Parent

-1,851

1,060

609

612

141

952

856

845

469

2,371

841

548

305

367

613

814

495

298

1,377

1,351

964

1,155

1,059

588

828

1,288

312

466

654

1,010

674

831

-432

45

1,203

744

98

-438

292

583

-113

-1,408

-629

-254

309

-

-

Net income attributable to Valero Energy Corporation stockholders:
Continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,155

1,059

651

829

-

312

463

-

-

-

-

-

45

1,203

745

104

180

303

520

-80

-103

-343

-191

364

-

-

Discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-63

-1

-

0

3

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Earnings per common share
Continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2.21

2.01

1.23

1.55

-

0.58

0.85

-

-

-

-

-

0.09

2.12

1.31

0.18

0.31

0.54

0.92

-0.14

-0.23

-0.61

-0.36

0.70

-

-

Discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

0.00

-0.12

0.00

-

0.00

0.01

-

-

-

-

-

0.00

0.00

0.00

-0.01

-1.09

-0.02

0.11

-0.06

-2.44

-0.51

-0.12

-0.10

-

-

Earnings (loss) per common share (in dollars per share)

-4.54

2.55

1.48

1.47

0.34

2.24

2.01

1.96

1.09

5.35

1.91

1.23

0.68

0.82

1.33

1.74

1.05

0.67

2.79

2.67

1.87

2.21

2.01

1.11

1.55

2.37

0.58

0.86

1.18

1.83

1.22

1.50

-0.78

0.09

2.12

1.31

0.17

-0.78

0.52

1.03

-0.20

-2.67

-1.12

-0.48

0.60

2.20

1.39

Weighted Average Number of Shares Outstanding, Basic

408

409

412

415

416

419

425

429

431

437

439

444

448

450

458

467

469

479

491

505

513

518

526

529

531

535

540

543

550

550

549

550

551

555

564

567

566

563

564

563

562

564

561

525

514

522

526

Earnings per common share assuming dilution
Continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2.21

2.00

1.22

1.54

-

0.57

0.84

-

-

-

-

-

0.10

2.11

1.30

0.18

0.31

0.53

0.92

-0.14

-0.23

-0.61

-0.36

0.70

-

-

Discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

0.00

-0.12

0.00

-

0.00

0.01

-

-

-

-

-

0.00

0.00

0.00

-0.01

-1.08

-0.02

0.11

-0.06

-2.43

-0.51

-0.12

-0.11

-

-

Earnings (loss) per common share – assuming dilution (in dollars per share)

-4.54

2.55

1.48

1.47

0.34

2.23

2.01

1.96

1.09

5.34

1.91

1.23

0.68

0.83

1.33

1.73

1.05

0.67

2.79

2.66

1.87

2.21

2.00

1.10

1.54

2.37

0.57

0.85

1.18

1.82

1.21

1.50

-0.78

0.10

2.11

1.30

0.17

-0.77

0.51

1.03

-0.20

-2.66

-1.12

-0.48

0.59

2.18

1.37

Weighted Average Number of Shares Outstanding, Diluted

408

408

413

417

418

422

427

431

432

438

441

446

451

455

460

470

471

482

494

508

516

520

530

534

536

543

545

548

556

562

556

555

551

560

569

574

573

575

568

567

562

559

561

525

519

529

534

Supplemental information:
Supplemental information:
Dividends per common share (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

0.70

0.70

-

0.60

0.60

0.60

0.50

0.40

0.40

0.40

0.27

0.27

0.25

0.25

0.22

0.22

0.20

0.20

0.17

0.17

0.15

0.15

0.15

0.05

0.05

0.05

0.05

0.05

0.05

0.05

0.15

0.15

0.15

0.15

0.15

0.15

Includes excise taxes on sales by certain of our international operations

1,368

1,456

1,399

1,410

1,330

1,354

1,338

1,470

1,464

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

234

-

229

227

214

224

234

225

208

214

226

229

204

207

204