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Valero Energy Corptx (VLO) SEC Filing 10-Q Quarterly report for the period ending Wednesday, September 30, 2020

Valero Energy Corptx

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CIK: 1035002 Ticker: VLO
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Exhibit 99.01


Valero Energy Reports Third Quarter 2020 Results

•Reported net loss attributable to Valero stockholders of $464 million, or $1.14 per share.
•Reported adjusted net loss attributable to Valero stockholders of $472 million, or $1.16 per share.
•Issued $2.5 billion of Senior Notes for general corporate purposes.
•2020 and 2021 capital investments attributable to Valero forecasted at $2.0 billion for each year.
•Returned $399 million in cash to stockholders through dividends.

SAN ANTONIO, October 22, 2020 – Valero Energy Corporation (NYSE: VLO, “Valero”) today reported a net loss attributable to Valero stockholders of $464 million, or $1.14 per share, for the third quarter of 2020 compared to net income of $609 million, or $1.48 per share, for the third quarter of 2019. Excluding the adjustments shown in the accompanying earnings release tables, the adjusted net loss attributable to Valero stockholders was $472 million, or $1.16 per share, for the third quarter of 2020, compared to third quarter 2019 adjusted net income attributable to Valero stockholders of $642 million, or $1.55 per share. Third quarter 2020 adjusted results primarily exclude the benefit from an after-tax lower of cost or market, or LCM, inventory valuation adjustment of $250 million and an after-tax loss of $218 million for an expected LIFO liquidation.

Refining
The refining segment reported a $629 million operating loss for the third quarter of 2020 compared to operating income of $1.1 billion for the third quarter of 2019. Excluding the LCM inventory valuation adjustment, the expected LIFO liquidation adjustment, and other operating expenses, the third quarter 2020 adjusted operating loss was $575 million. Refinery throughput volumes averaged 2.5 million barrels per day in the third quarter of 2020, which was 428 thousand barrels per day lower than the third quarter of 2019.


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The following information was filed by Valero Energy Corptx (VLO) on Thursday, October 22, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Valero Energy Corptx's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows (Unaudited)
Consolidated Statements Of Comprehensive Income (Unaudited)
Consolidated Statements Of Equity (Unaudited)
Consolidated Statements Of Equity (Unaudited) (Parenthetical)
Consolidated Statements Of Income (Unaudited)
Basis Of Presentation And Significant Accounting Policies
Basis Of Presentation And Significant Accounting Policies (Policies)
Basis Of Presentation And Significant Accounting Policies (Tables)
Debt
Debt (Tables)
Debt, Credit Facilities (Details)
Debt, Interest Incurred (Details)
Debt, Narrative (Details)
Earnings (Loss) Per Common Share
Earnings (Loss) Per Common Share (Details)
Earnings (Loss) Per Common Share (Tables)
Employee Benefit Plans
Employee Benefit Plans (Details)
Employee Benefit Plans (Tables)
Equity
Equity (Tables)
Equity, Changes In Accumulated Other Comprehensive Loss (Details)
Equity, Narrative (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements, Nonrecurring (Details)
Fair Value Measurements, Other Financial Instruments (Details)
Fair Value Measurements, Recurring (Details)
Income Taxes
Income Taxes (Details)
Inventories
Inventories (Details)
Inventories (Tables)
Leases
Leases (Tables)
Leases, Additional Information (Details)
Leases, Remaining Minimum Lease Payments (Details)
Leases, Significant Lease Commencement (Details)
Leases, Total Lease Cost By Class Of Underlying Asset (Details)
Merger With Vlp
Merger With Vlp (Details)
Price Risk Management Activities
Price Risk Management Activities (Details)
Price Risk Management Activities (Tables)
Price Risk Management Activities, Effect Of Derivative Instruments On Income And Other Comprehensive Income (Loss) (Details)
Price Risk Management Activities, Hedging Instruments By Consolidated Balance Sheet Location (Details)
Revenues And Segment Information
Revenues And Segment Information (Tables)
Revenues And Segment Information, Assets (Details)
Revenues And Segment Information, Components Of Operating Income (Loss) (Details)
Revenues And Segment Information, Contract Balances (Details)
Revenues And Segment Information, Disaggregation Of Revenue By Product (Details)
Supplemental Cash Flow Information
Supplemental Cash Flow Information (Details)
Supplemental Cash Flow Information (Tables)
Uncertainties And Certain Significant Accounting Estimates
Uncertainties And Certain Significant Accounting Estimates (Details)
Variable Interest Entities
Variable Interest Entities (Details)
Variable Interest Entities (Tables)

Material Contracts, Statements, Certifications & more

Valero Energy Corptx provided additional information to their SEC Filing as exhibits

Exhibit 31.01: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 31.02: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 32.01: Section 1350 Certification
Ticker: VLO
CIK: 1035002
Form Type: 10-Q Quarterly Report
Accession Number: 0001035002-20-000053
Submitted to the SEC: Wed Oct 28 2020 4:23:27 PM EST
Accepted by the SEC: Wed Oct 28 2020
Period: Wednesday, September 30, 2020
Industry: Petroleum Refining

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