Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

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 (quarterly data)

US$ in millions

	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Current portion of debt and finance lease obligations	1,016)	995)	853)	1,406)	1,334)	1,193)	1,258)	1,109)	1,006)	1,022)	1,295)	1,264)	1,162)	1,044)	734)	723)	636)	587)	886)	494)	402)	323)	1,110)
Accounts payable	11,516)	14,565)	12,458)	12,567)	13,342)	10,825)	10,498)	12,728)	13,003)	16,643)	15,236)	12,495)	9,820)	10,168)	9,113)	6,082)	5,237)	4,652)	5,906)	10,205)	9,504)	10,135)	10,005)
Accrued expenses	1,190)	1,065)	1,097)	1,240)	1,219)	1,117)	1,168)	1,215)	1,265)	1,112)	1,140)	1,253)	1,539)	1,286)	1,087)	994)	926)	861)	866)	949)	881)	764)	772)
Taxes other than income taxes payable	1,400)	1,490)	1,353)	1,452)	1,419)	1,491)	1,574)	1,568)	1,311)	1,599)	1,482)	1,461)	1,548)	1,537)	1,233)	1,372)	1,266)	1,083)	1,019)	1,304)	1,175)	1,144)	961)
Income taxes payable	176)	203)	388)	137)	278)	322)	867)	841)	652)	1,593)	632)	378)	244)	179)	140)	112)	57)	117)	55)	208)	168)	182)	65)
Current liabilities	15,298)	18,318)	16,149)	16,802)	17,592)	14,948)	15,365)	17,461)	17,237)	21,969)	19,785)	16,851)	14,313)	14,214)	12,307)	9,283)	8,122)	7,300)	8,732)	13,160)	12,130)	12,548)	12,913)
Debt and finance lease obligations, less current portion	9,790)	9,746)	10,044)	10,118)	10,107)	10,130)	10,173)	10,526)	10,570)	11,858)	11,866)	12,606)	13,071)	13,636)	13,930)	13,954)	14,577)	12,090)	10,574)	9,178)	9,170)	9,167)	9,006)
Deferred income tax liabilities	5,263)	5,224)	5,260)	5,349)	5,231)	5,382)	5,280)	5,217)	4,938)	4,792)	4,971)	5,210)	5,110)	5,142)	5,034)	5,275)	5,297)	5,305)	4,909)	5,103)	4,920)	4,899)	4,867)
Other long-term liabilities	2,031)	2,077)	2,297)	2,263)	2,188)	2,213)	2,292)	2,310)	2,869)	2,993)	3,370)	3,404)	3,608)	3,760)	3,616)	3,620)	3,720)	3,770)	3,847)	3,887)	3,421)	3,571)	3,530)
Long-term liabilities	17,084)	17,047)	17,601)	17,730)	17,526)	17,725)	17,745)	18,053)	18,377)	19,643)	20,207)	21,220)	21,789)	22,538)	22,580)	22,849)	23,594)	21,165)	19,330)	18,168)	17,511)	17,637)	17,403)
Total liabilities	32,382)	35,365)	33,750)	34,532)	35,118)	32,673)	33,110)	35,514)	35,614)	41,612)	39,992)	38,071)	36,102)	36,752)	34,887)	32,132)	31,716)	28,465)	28,062)	31,328)	29,641)	30,185)	30,316)
Common stock, $0.01 par value	7)	7)	7)	7)	7)	7)	7)	7)	7)	7)	7)	7)	7)	7)	7)	7)	7)	7)	7)	7)	7)	7)	7)
Additional paid-in capital	6,940)	6,929)	6,916)	6,901)	6,900)	6,889)	6,877)	6,863)	6,858)	6,845)	6,832)	6,827)	6,830)	6,819)	6,810)	6,814)	6,834)	6,824)	6,814)	6,821)	6,818)	6,812)	6,802)
Treasury stock, at cost	(27,938)	(27,373)	(26,330)	(25,322)	(24,381)	(22,586)	(21,637)	(20,197)	(18,466)	(17,537)	(15,794)	(15,677)	(15,696)	(15,696)	(15,700)	(15,719)	(15,759)	(15,760)	(15,764)	(15,648)	(15,472)	(15,170)	(14,958)
Retained earnings	47,074)	47,052)	46,519)	45,630)	44,774)	42,512)	40,935)	38,247)	35,510)	33,079)	28,785)	28,281)	27,673)	27,610)	27,849)	28,953)	29,712)	30,575)	29,722)	31,974)	31,283)	31,046)	30,810)
Accumulated other comprehensive loss	(830)	(1,172)	(1,055)	(870)	(1,325)	(971)	(1,205)	(1,359)	(1,997)	(1,425)	(1,009)	(1,008)	(1,338)	(1,089)	(1,165)	(1,254)	(1,571)	(1,799)	(1,937)	(1,351)	(1,529)	(1,350)	(1,352)
Total Valero Energy Corporation stockholders’ equity	25,253)	25,443)	26,057)	26,346)	25,975)	25,851)	24,977)	23,561)	21,912)	20,969)	18,821)	18,430)	17,476)	17,651)	17,801)	18,801)	19,223)	19,847)	18,842)	21,803)	21,107)	21,345)	21,309)
Noncontrolling interests	2,747)	2,807)	2,767)	2,178)	2,082)	2,143)	2,090)	1,907)	1,803)	1,764)	1,589)	1,387)	1,113)	1,053)	926)	841)	793)	787)	843)	733)	481)	492)	470)
Total equity	28,000)	28,250)	28,824)	28,524)	28,057)	27,994)	27,067)	25,468)	23,715)	22,733)	20,410)	19,817)	18,589)	18,704)	18,727)	19,642)	20,016)	20,634)	19,685)	22,536)	21,588)	21,837)	21,779)
Total liabilities and equity	60,382)	63,615)	62,574)	63,056)	63,175)	60,667)	60,177)	60,982)	59,329)	64,345)	60,402)	57,888)	54,691)	55,456)	53,614)	51,774)	51,732)	49,099)	47,747)	53,864)	51,229)	52,022)	52,095)

The analysis of the financial data reveals notable trends across various liability and equity accounts over the reported quarterly periods.

Current Portion of Debt and Finance Lease Obligations: This item exhibits fluctuations with a general upward trend from early 2019 through late 2023, peaking in December 2023 at 1,406 million USD before decreasing in the first two quarters of 2024.
Accounts Payable: The figures demonstrate considerable variability, with a significant decline in 2020 coinciding with the onset of the COVID-19 pandemic, followed by a strong recovery and reaching a peak of 16,643 million USD in mid-2022. Subsequently, a decline is observed toward the first quarter of 2024.
Accrued Expenses: Accrued expenses gradually increase over the timeline, with peaks occurring near the end of 2021 and uneven fluctuations thereafter, reflecting variable short-term obligations.
Taxes Other Than Income Taxes Payable: These taxes consistently rise from 2019 through 2023, reaching a maximum in mid-2022. The values remain elevated with minor variations through the first half of 2024.
Income Taxes Payable: Income taxes payable show notable volatility, with substantial spikes in early 2022, up to 1,593 million USD, far exceeding prior periods. Subsequent quarters show declines but remain higher than in the earlier years.
Current Liabilities: Current liabilities decreased markedly during 2020, reflecting possible operational adjustments during the pandemic, followed by a significant increase in 2021 and peaking at 21,969 million USD in mid-2022. Afterward, there is a downward correction toward early 2024.
Debt and Finance Lease Obligations, Less Current Portion: Long-term debt remains comparatively stable with gradual decreases from mid-2020 through 2024, showing a modest reduction from a peak of 14,577 million USD in late 2020 to about 9,790 million USD by the third quarter of 2024.
Deferred Income Tax Liabilities: These liabilities remain relatively steady through the periods, fluctuating minimally around 5,000 million USD, indicating consistent tax-related deferrals.
Other Long-Term Liabilities: Other long-term liabilities exhibit a downward trend, decreasing steadily from 3,530 million USD in early 2019 to around 2,031 million USD by late 2024, reflecting possible debt repayments or reclassifications.
Long-Term Liabilities: Long-term liabilities overall increased through 2020, reaching a peak of 23,594 million USD, and then have been on a declining trend thereafter, declining to roughly 17,084 million USD by late 2024.
Total Liabilities: Total liabilities show an undulating pattern, with an initial drop in 2020, then a steady increase through 2021 and first halves of 2022, hitting levels over 41,000 million USD, but subsequently decreasing into 2024 near 32,382 million USD.
Stockholders’ Equity Components: Common stock and additional paid-in capital remain stable, reflecting no new issuances or buybacks. Treasury stock, conversely, exhibits a pronounced increasing negative balance, reaching nearly -27,938 million USD by late 2024, denoting sustained share repurchases or retirements.
Retained Earnings: Retained earnings generally grow over time, with a marked increase starting from early 2022, rising from approximately 28,785 million USD to about 47,074 million USD by late 2024, signifying accumulated profits and earnings retention.
Accumulated Other Comprehensive Loss: This metric fluctuates but tends to worsen slightly overall, with values moving between approximately -800 million USD and -2,000 million USD, reflecting unrealized losses or other adjustments over time.
Total Stockholders’ Equity: Total equity follows a general upward trajectory from 2019 to late 2023, peaking near 28,824 million USD before a slight decline in 2024, indicating improved net asset positions amid fluctuating market conditions.
Noncontrolling Interests: Noncontrolling interests increase steadily from 470 million USD in early 2019 to over 2,800 million USD by mid-2024, highlighting growth in minority ownership stakes or changes in consolidation structure.
Total Equity: Total equity, inclusive of noncontrolling interests, generally rises during the period examined, reaching levels above 28,000 million USD in 2023, with a slight contraction recorded in 2024.
Total Liabilities and Equity: The aggregate sum of liabilities and equity fluctuates around 50,000 to 64,000 million USD, with notable increases in 2021 and 2022 followed by a decline in total capital towards 2024, suggesting varying capitalization and financing strategies.

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Valero Energy Corp. (NYSE:VLO)

Balance Sheet: Liabilities and Stockholders’ Equity Quarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data