Valero energy corp/tx (VLO)
Income statement / TTM
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

106,163

108,324

109,175

112,775

114,857

117,033

114,695

107,408

98,647

93,980

88,300

84,387

81,717

75,659

73,724

76,654

82,188

87,804

96,886

108,715

118,511

130,844

137,414

139,143

138,263

138,074

137,483

136,072

136,700

138,393

139,228

138,215

134,846

125,987

113,478

100,780

90,048

82,233

75,391

72,949

69,764

64,599

0

0

0

0

0

Cost of sales:
Cost of materials and other

94,450

96,476

97,811

101,177

102,954

104,732

102,988

95,616

87,365

83,037

77,668

74,372

71,883

65,962

63,287

64,931

69,205

73,861

82,555

94,901

105,674

118,141

124,997

127,905

127,261

127,316

126,656

124,037

124,135

126,485

128,706

127,427

124,186

115,719

103,241

92,123

81,970

74,458

68,454

66,751

64,538

58,686

0

0

0

0

0

Lower of cost or market (LCM) inventory valuation adjustment

0

-

-

-

0

-

-

-

-

-

-

-

-

-747

43

43

497

790

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating expenses (excluding depreciation and amortization expense reflected below)

4,777

4,868

4,880

4,834

4,769

4,690

4,573

4,515

4,516

4,504

4,528

4,455

4,345

4,251

4,107

4,147

4,189

4,243

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

0

Depreciation and amortization expense

2,234

2,202

2,163

2,111

2,069

2,017

1,976

1,956

1,931

1,934

1,889

1,863

1,849

1,846

1,861

1,885

1,839

1,795

1,773

1,721

1,710

1,690

1,702

1,720

1,711

1,720

1,660

1,614

1,595

1,549

1,565

1,553

1,553

1,534

1,503

1,466

1,430

1,405

1,332

1,340

1,351

1,361

0

0

0

0

0

Total cost of sales

104,003

103,546

104,854

108,122

109,792

111,439

109,537

102,087

93,812

89,475

83,714

80,319

77,467

71,312

69,165

71,052

75,739

80,689

89,378

101,676

112,465

124,942

131,749

134,616

134,016

134,117

132,467

130,279

130,351

133,349

136,635

134,952

131,654

122,307

109,587

98,278

87,932

80,357

73,973

72,359

70,270

64,516

0

0

0

0

0

Other operating expenses

21

21

18

18

37

45

58

92

71

61

44

0

0

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Refining

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

3,490

3,466

3,425

3,513

3,741

3,681

3,626

3,406

3,161

3,044

2,924

2,944

2,982

0

0

-

0

-

-

-

-

Retail

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

398

576

689

686

684

683

682

678

678

670

664

654

588

601

609

626

0

0

0

0

0

Ethanol

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

365

339

322

332

345

372

391

399

398

391

378

363

326

0

0

-

0

-

-

-

-

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

836

868

855

847

896

925

932

948

875

829

794

761

745

709

713

700

719

710

718

719

711

724

689

679

742

758

768

772

710

698

638

625

605

571

606

584

564

531

505

533

524

572

0

0

0

0

0

Depreciation and amortization expense

52

53

52

54

53

52

52

52

53

52

51

-882

-425

-

-333

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Asset impairment loss

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

0

0

-

-

-

-

-

-

-

-

-

86

956

611

611

0

0

2

0

-

0

0

-

222

242

0

0

0

-

Gain on sale of Krotz Springs Refinery

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

Operating income (loss)

1,251

3,836

3,396

3,734

4,079

4,572

4,116

4,229

3,836

3,563

3,302

2,862

3,233

3,534

3,598

4,845

5,692

6,358

7,508

7,039

6,046

5,902

5,665

4,527

4,247

3,957

5,016

5,793

6,349

5,044

2,593

3,263

3,192

3,680

3,891

2,502

2,116

1,876

1,418

590

-506

83

0

0

0

0

0

Other income, net

114

104

110

118

101

130

124

105

137

112

135

124

111

94

46

37

31

46

44

52

56

47

55

61

60

59

53

34

18

10

14

17

32

43

105

121

112

106

62

53

29

17

0

0

0

0

0

Interest Expense

467

454

449

449

461

470

470

473

468

468

466

467

459

446

441

438

440

433

427

413

398

397

398

402

382

365

334

302

298

314

332

350

383

401

413

444

454

484

412

443

444

416

0

0

0

0

0

Income (loss) before income tax expense (benefit)

898

3,486

3,057

3,403

3,719

4,232

3,770

3,861

3,505

3,207

2,971

2,519

2,885

3,182

3,203

4,444

5,283

5,971

7,125

6,678

5,704

5,552

5,647

4,511

4,250

3,976

4,735

5,525

6,069

4,740

2,275

2,930

2,841

3,322

3,717

2,613

0

-

0

0

-

-

-

-

-

-

-

Capitalized

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

0

0

0

0

Income Tax Expense (Benefit)

35

702

581

692

781

879

-961

-859

-912

-949

799

565

660

765

807

1,320

1,637

1,870

2,199

2,063

1,798

1,777

1,808

1,410

1,343

1,254

1,254

1,695

1,871

1,626

1,159

1,284

1,281

1,226

1,332

828

647

575

356

153

-223

-43

0

0

0

0

0

Income from continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,775

2,879

2,279

0

-

0

0

-

-

-

-

-

2,096

2,263

1,363

1,139

923

586

-78

-897

-273

0

0

0

0

0

Loss from discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-64

-64

-61

0

-

0

0

-

-

-

-

-

-7

-625

-636

-572

-599

0

0

0

-

-

-

-

-

-

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

863

2,784

2,476

2,711

2,938

3,353

4,731

4,720

4,417

4,156

2,172

1,954

2,225

2,417

2,396

3,124

3,646

4,101

4,926

4,615

3,843

3,711

3,778

3,040

2,912

2,728

2,450

2,799

3,164

2,080

1,116

1,646

1,559

2,089

2,336

1,716

0

-

0

0

-

-

-

-

-

0

0

Less: Net income attributable to noncontrolling interests

433

362

162

150

144

231

190

194

188

91

111

121

126

128

176

140

125

111

79

86

77

81

15

24

18

8

8

-5

-5

-3

-2

-1

-1

-1

-1

-1

0

-

0

0

-

-

-

-

-

-

-

Net Income (Loss) Attributable to Parent

430

2,422

2,314

2,561

2,794

3,122

4,541

4,526

4,229

4,065

2,061

1,833

2,099

2,289

2,220

2,984

3,521

3,990

4,847

4,529

3,766

3,630

3,763

3,016

2,894

2,720

2,442

2,804

3,169

2,083

1,118

1,647

1,560

2,090

1,607

696

535

324

-646

-1,567

-2,404

-1,982

0

0

0

-

-

Net income attributable to Valero Energy Corporation stockholders:
Continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,694

2,851

2,255

0

-

0

0

-

-

-

-

-

2,097

2,232

1,332

1,107

923

640

-6

-717

-273

0

0

0

-

-

Discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-64

-64

-61

0

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

5,633

5,595

5,493

5,432

5,492

5,626

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

894

899

897

891

881

873

877

873

0

0

0

0

0