Stock Analysis on Net
Stock Analysis on Net

Valero Energy Corp. (NYSE:VLO)

$22.49

This company has been moved to the archive! The financial data has not been updated since October 30, 2024.

Cash Flow Statement
Quarterly Data

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

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Valero Energy Corp., consolidated cash flow statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: 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
Net income (loss)
Depreciation and amortization expense
(Gain) loss on early retirement of debt, net
LCM inventory valuation adjustment
Asset impairment loss
Gain on sale of assets
Deferred income tax expense (benefit)
Changes in current assets and current liabilities
Changes in deferred charges and credits and other operating activities, net
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Net cash provided by (used in) operating activities
Capital expenditures, excluding variable interest entities (VIEs)
Diamond Green Diesel Holdings LLC (DGD)
Other VIEs
Capital expenditures of VIEs
Deferred turnaround and catalyst cost expenditures, excluding VIEs
Deferred turnaround and catalyst cost expenditures of DGD
Purchases of available-for-sale (AFS) debt securities
Proceeds from sales and maturities of AFS debt securities
Proceeds from sale of assets
Investments in nonconsolidated joint ventures
Other investing activities, net
Net cash used in investing activities
Proceeds from debt borrowings, excluding VIEs
DGD
Other VIEs
Proceeds from borrowings of VIEs
Repayments of debt and finance lease obligations, excluding VIEs
DGD
Other VIEs
Repayments of debt and finance lease obligations of VIEs
Premiums paid on early retirement of debt
Purchases of common stock for treasury
Common stock dividend payments
Acquisition of VLP publicly held common units
Contributions from noncontrolling interests
Distributions to noncontrolling interests
Other financing activities, net
Net cash provided by (used in) financing activities
Effect of foreign exchange rate changes on cash
Net increase (decrease) in cash, cash equivalents, and restricted cash

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Net Income (Loss)
The net income displayed notable volatility with significant losses in early 2020, likely correlated with market or operational challenges, followed by a strong recovery through 2022 and early 2023. Peaks occurred in early 2022, exceeding prior periods, before trending downward in late 2023 and early 2024, albeit remaining positive.
Depreciation and Amortization Expense
This expense showed a steady gradual increase over the entire period, reflecting ongoing capital asset usage and possible incremental capital investments.
Unusual Items (Gain/Loss on Debt and Inventory Adjustments)
Irregular gains and losses related to debt retirement and inventory valuation adjustments appear sporadically, with a pronounced inventory write-down in mid-2020 and some recovery adjustments afterward. These items caused temporary distortions in earnings, particularly impacting 2020 results.
Deferred Income Tax Expense (Benefit)
Deferred tax amounts fluctuated widely, showing alternating periods of expenses and benefits, possibly reflecting changes in taxable income and timing differences in deductions or credits.
Changes in Working Capital
Changes in current assets and liabilities were volatile, swinging between positive and negative cash flow impacts. Significant outflows occurred in mid to late 2022 and late 2023, suggesting shifting operational cash requirements or seasonal effects.
Operating Cash Flow
Net cash from operating activities strongly rebounded after a sharp dip in early 2020. Notable peaks occurred in mid-2021 and early 2022, followed by fluctuations but remaining generally positive, supporting underlying operations and capital expenditures.
Capital Expenditures (Excluding and Including VIEs)
Capital expenditures decreased markedly from 2019 through 2021, reaching a low point in 2021. A modest increase happened in 2022 but stayed below earlier levels. Expenditures related to VIEs exhibited a similar pattern, with a general reduction after 2019 and sporadic minor increases later.
Deferred Turnaround and Catalyst Costs
These costs showed considerable variability, with periodic spikes indicating planned maintenance or upgrades, particularly notable in late 2021 and late 2023 periods, reflecting ongoing capital maintenance cycles.
Investing Activities Cash Flow
Cash used in investing activities remained consistently negative, indicating sustained investment, though the magnitude declined somewhat after 2019. Proceeds from asset sales and debt securities partially offset outflows during certain quarters.
Debt Borrowings and Repayments
Debt borrowings excluding VIEs increased significantly in mid to late 2020 and again from 2023 into 2024, suggesting strategic financing actions. Corresponding repayments showed large outflows in 2021 and 2022, indicating active debt management. VIEs borrowings and repayments moved in smaller magnitudes but followed a similar pattern.
Equity Transactions
Common stock repurchases were substantial and highly concentrated in 2021 and 2022, indicating capital return initiatives. Dividend payments remained stable and consistent across all periods with a slight downward trend. Acquisitions and contributions from noncontrolling interests were sporadic but notable in certain years.
Financing Activities Cash Flow
Net cash used in financing fluctuated widely with significant outflows in 2019 and 2021-2023, reflecting debt repayment, share repurchases, and dividend payments. Positive inflows in 2020 correspond to debt issuances and other financing activities.
Foreign Exchange Effects
The effect of foreign exchange on cash was inconsistent, with both positive and negative impacts, occasionally significantly influencing cash balances, particularly around 2020-2022 periods.
Overall Cash Position Changes
The net change in cash and equivalents fluctuated considerably over the timeline, with marked decreases in early 2020 and late 2021 followed by strong recoveries in mid-2020 and parts of 2022. The variability reflects combined influences of operational cash flow, investing outflows, financing decisions, and currency effects.