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VALERO ENERGY   FYE=12 (December)

Annual - Income Statement - Company Specific

Fiscal period2020201920182017201620152014201320122011
Period End Date12/31/202012/31/201912/31/201812/31/201712/31/201612/31/201512/31/201412/31/201312/31/201212/31/2011
Operating Revenues64,912.00108,324.00117,033.0093,980.0075,659.0087,804.00130,844.00138,074.00138,393.00125,987.00
Total Revenue64,912.00108,324.00117,033.0093,980.0075,659.0087,804.00130,844.00138,074.00138,393.00125,987.00
Cost of sales58,933.0096,476.00104,732.0083,037.0065,962.0073,861.00118,141.00127,316.00126,485.00115,719.00
Lower of cost or market inventory valuation adjustment(19.00)------(747.00)790.000.00------
Cost of sales:Operating expenses (excluding depreciation and amortization expense reflected below)4,435.004,868.004,690.004,504.00------------
Cost of sales:Depreciation and amortization expense2,303.002,202.002,017.001,934.00------------
Gross profit--------------------
Refining operating expenses--------4,251.004,243.004,387.004,323.003,513.003,406.00
Ethanol----------------332.00399.00
Retail selling expenses----------------686.00678.00
Depreciation and amortization expense48.0053.0052.0052.001,846.001,795.001,690.001,720.001,549.001,534.00
Depreciation and amortization expenses--------48.0047.00--------
Goodwill impairment loss--------------------
General and administrative expenses756.00868.00925.00829.00709.00710.00724.00758.00698.00571.00
Other operating expenses(35.00)(21.00)(45.00)(61.00)0.00----------
Gain on sale of Krotz Springs Refinery--------------------
Asset impairment loss--------(56.00)--0.00--(86.00)--
Total costs and expenses------------124,942.00134,117.00133,349.00122,307.00
Operating income (loss)(1,579.00)3,836.004,572.003,563.003,534.006,358.005,902.003,957.005,044.003,680.00
Interest and debt expense:Incurred563.00454.00470.00468.00446.00--397.00--314.00401.00
Interest and debt expense:Capitalized----------433.00--365.00----
Distributions on preferred securities of subsidiary trusts--------------------
Equity in earnings of Valero L.P--------------------
Equity in earnings of NuStar Energy L.P--------------------
Other income (expense), net132.00104.00130.00112.0094.0046.0047.0059.0010.0043.00
Minority interest in net income of Valero L.P--------------------
Minority interest in net income of NuStar GP Holdings, LLC--------------------
Gain on disposition of retained interest in CST Brands, Inc--------------325.000.00--
Income before income tax expense(2,010.00)3,486.004,232.003,207.003,182.005,971.005,552.003,976.004,740.003,322.00
U.S. operations--------1,733.005,327.004,677.003,531.004,015.003,190.00
Canadian operations--------------------
Aruban operations--------------------
International operations--------1,449.00644.00875.00445.00725.00132.00
Income tax expense(903.00)702.00879.00(949.00)765.001,870.001,777.001,254.001,626.001,226.00
Other, net--------------------
Current:U.S. federal(1,067.00)331.00573.001,499.00488.001,577.001,249.00635.00515.00562.00
Current:U.S. state6.00137.00103.0095.0047.00128.0083.0036.0022.0013.00
Current:Canada--------------------
Current:Aruba--------------------
Deferred:U.S. federal179.00262.00170.00(2,551.00)238.00151.00362.00459.00854.00527.00
Deferred:U.S. state(21.00)(28.00)33.008.00(8.00)14.0083.0059.0077.0032.00
Deferred:Canada--------------------
Deferred:Aruba--------------------
U.S. manufacturing deduction--------------------
Permanent differences--------------------
Current : International--------------82.00126.00186.00
Deferred : International--------------(17.00)32.00(94.00)
Income from continuing operations------------3,775.002,722.003,114.002,096.00
Income from discontinued operations, net of income tax expense------------(64.00)6.00(1,034.00)(7.00)
Consolidated Net Income (Loss)(1,107.00)2,784.003,353.004,156.002,417.004,101.003,711.002,728.002,080.002,089.00
Net loss attributable to noncontrolling interest314.00362.00231.0091.00128.00111.0081.008.00(3.00)(1.00)
Preferred stock dividends--------------------
Net income applicable to common stock(1,421.00)2,422.003,122.004,065.002,289.003,990.003,630.002,720.002,083.002,090.00
Income from Continuing Operations------------7.004.985.643.70
Income from discontinued operations------------(0.12)0.01(1.87)(0.01)
NET EARNINGS PER SHARE (BASIC)(3.50)5.847.309.174.948.006.884.993.773.69
Income from Continuing Operations------------6.974.965.613.69
Income from discontinued operations------------(0.12)0.01(1.86)(0.01)
NET EARNINGS PER SHARE (DILUTED)(3.50)5.847.299.164.947.996.854.973.753.68
Weighted Average Shares Outstanding (Basic)407.00413.00426.00442.00461.00497.00526.00542.00550.00563.00
Weighted Average Shares Outstanding (Diluted)407.00414.00428.00444.00464.00500.00530.00548.00556.00569.00
Dividends per common share--------2.401.701.050.850.650.30