Stock Analysis on Net

Valero Energy Corp. (NYSE:VLO)

Balance Sheet: Liabilities and Stockholders’ Equity

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Valero Energy Corp., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Current portion of debt and finance lease obligations 1,406 1,109 1,264 723 494
Accounts payable 12,567 12,728 12,495 6,082 10,205
Current operating lease liabilities 360 311 315 285 331
Defined benefit plan liabilities 55 35 41 45 37
Environmental liabilities 23 21 35 59 27
Wage and other employee-related liabilities 392 388 349 210 292
Accrued interest expense 83 67 88 99 83
Contract liabilities from contracts with customers 40 129 78 56 55
Blending program obligations 83 189 268 159 31
Other accrued liabilities 204 75 79 81 93
Accrued expenses 1,240 1,215 1,253 994 949
Taxes other than income taxes payable 1,452 1,568 1,461 1,372 1,304
Income taxes payable 137 841 378 112 208
Current liabilities 16,802 17,461 16,851 9,283 13,160
Debt and finance lease obligations, less current portion 10,118 10,526 12,606 13,954 9,178
Deferred income tax liabilities 5,349 5,217 5,210 5,275 5,103
Noncurrent operating lease liabilities 753 776 940 885 959
Liability for unrecognized tax benefits 238 239 863 859 954
Defined benefit plan liabilities 476 448 601 878 834
Repatriation tax liability 167 301 367 422 508
Environmental liabilities 294 296 269 272 319
Wage and other employee-related liabilities 90 87 133 124 121
Other accrued liabilities 245 163 231 180 192
Other long-term liabilities 2,263 2,310 3,404 3,620 3,887
Long-term liabilities 17,730 18,053 21,220 22,849 18,168
Total liabilities 34,532 35,514 38,071 32,132 31,328
Common stock, $0.01 par value 7 7 7 7 7
Additional paid-in capital 6,901 6,863 6,827 6,814 6,821
Treasury stock, at cost (25,322) (20,197) (15,677) (15,719) (15,648)
Retained earnings 45,630 38,247 28,281 28,953 31,974
Accumulated other comprehensive loss (870) (1,359) (1,008) (1,254) (1,351)
Total Valero Energy Corporation stockholders’ equity 26,346 23,561 18,430 18,801 21,803
Noncontrolling interests 2,178 1,907 1,387 841 733
Total equity 28,524 25,468 19,817 19,642 22,536
Total liabilities and equity 63,056 60,982 57,888 51,774 53,864

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Balance sheet item Description The company
Current liabilities Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Valero Energy Corp. current liabilities increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Long-term liabilities Amount of obligation due after one year or beyond the normal operating cycle, if longer. Valero Energy Corp. long-term liabilities decreased from 2021 to 2022 and from 2022 to 2023.
Total liabilities Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Valero Energy Corp. total liabilities decreased from 2021 to 2022 and from 2022 to 2023.
Total Valero Energy Corporation stockholders’ equity Total of all stockholders’ equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity stockholders’ equity attributable to the parent excludes the amount of stockholders’ equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Valero Energy Corp. total Valero Energy Corporation stockholders’ equity increased from 2021 to 2022 and from 2022 to 2023.