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Valero Energy Corptx (VLO) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2020

Valero Energy Corptx

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CIK: 1035002 Ticker: VLO
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Exhibit 99.01

Valero Energy Reports 2020 Fourth Quarter and Full Year Results and
Declares Regular Cash Dividend on Common Stock

•Reported a net loss attributable to Valero stockholders of $359 million, or $0.88 per share, for the fourth quarter and $1.4 billion, or $3.50 per share, for the year.
•Reported an adjusted net loss attributable to Valero stockholders of $429 million, or $1.06 per share, for the fourth quarter and $1.3 billion, or $3.12 per share, for the year.
•Returned $400 million in cash to stockholders through dividends in the fourth quarter and $1.8 billion through dividends and stock buybacks in the year.
•Declared a regular quarterly cash dividend of $0.98 per share.
•Completed and started up the St. Charles Alkylation unit on schedule and under budget.
•Approved a new 470 million gallons per year renewable diesel plant at Valero’s Port Arthur refinery (DGD 3), which is expected to commence operations in 2023.

SAN ANTONIO, January 28, 2021 – Valero Energy Corporation (NYSE: VLO, “Valero”) today reported a net loss attributable to Valero stockholders of $359 million, or $0.88 per share, for the fourth quarter of 2020, compared to net income of $1.1 billion, or $2.58 per share, for the fourth quarter of 2019. Excluding the adjustments shown in the accompanying earnings release tables, the adjusted net loss attributable to Valero stockholders was $429 million, or $1.06 per share, for the fourth quarter of 2020, compared to fourth quarter 2019 adjusted net income attributable to Valero stockholders of $873 million, or $2.13 per share. Fourth quarter 2020 adjusted results exclude the after-tax benefit from a LIFO liquidation adjustment of $70 million.

For the year ended December 31, 2020, the net loss attributable to Valero stockholders was $1.4 billion, or $3.50 per share, compared to net income of $2.4 billion, or $5.84 per share, in 2019. Excluding the adjustments shown in the accompanying earnings release tables, the adjusted net loss attributable to Valero stockholders was $1.3 billion, or $3.12 per share, for 2020, compared to adjusted net income attributable to Valero stockholders of $2.4 billion, or $5.70 per share, in 2019.

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The following information was filed by Valero Energy Corptx (VLO) on Thursday, January 28, 2021 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-K Annual 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-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Equity
Consolidated Statements Of Equity (Parenthetical)
Consolidated Statements Of Income
Accrued Expenses And Other Long-Term Liabilities
Accrued Expenses And Other Long-Term Liabilities (Details)
Accrued Expenses And Other Long-Term Liabilities (Tables)
Commitments And Contingencies
Debt And Finance Lease Obligations
Debt And Finance Lease Obligations (Details)
Debt And Finance Lease Obligations (Tables)
Debt And Finance Lease Obligations, Credit Facilities (Details)
Debt And Finance Lease Obligations, Interest Incurred (Details)
Debt And Finance Lease Obligations, Other Debt And Other Disclosures (Details)
Debt And Finance Lease Obligations, Public Debt (Details)
Deferred Charges And Other Assets
Deferred Charges And Other Assets (Details)
Deferred Charges And Other Assets (Tables)
Description Of Business, Basis Of Presentation, And Significant Accounting Policies
Description Of Business, Basis Of Presentation, And Significant Accounting Policies (Details)
Description Of Business, Basis Of Presentation, And Significant Accounting Policies (Policies)
Description Of Business, Basis Of Presentation, And Significant Accounting Policies (Tables)
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)
Employee Benefit Plans, Accumulated Benefit Obligations In Excess Of Plan Assets (Details)
Employee Benefit Plans, Benefit Payments (Details)
Employee Benefit Plans, Components Of Net Periodic Benefit Cost (Credit) (Details)
Employee Benefit Plans, Defined Contribution Plans (Details)
Employee Benefit Plans, Fair Value Of Pension Plan Assets (Details)
Employee Benefit Plans, Health Care Cost Trend Rate (Details)
Employee Benefit Plans, Pre-Tax Amounts In Accumulated Other Comprehensive Income (Loss) (Details)
Employee Benefit Plans, Pre-Tax Amounts Recognized In Other Comprehensive Income (Loss) (Details)
Employee Benefit Plans, Projected Benefit Obligations In Excess Of Plan Assets (Details)
Employee Benefit Plans, Weighted-Average Assumptions (Details)
Equity
Equity (Tables)
Equity, Changes In Accumulated Other Comprehensive Loss (Details)
Equity, Income Tax Effects On Other Comprehensive Income (Loss) (Details)
Equity, Reclassification Out Of Accumulated Other Comprehensive Income (Loss) (Details)
Equity, Stock Related Disclosures (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 (Tables)
Income Taxes, Change In Unrecognized Tax Benefits (Details)
Income Taxes, Components Of Income (Loss) Before Income Tax Expense (Benefit) (Details)
Income Taxes, Components Of Income Tax Expense (Benefit) (Details)
Income Taxes, Deferred Income Tax Assets And Liabilities (Details)
Income Taxes, Liability For Unrecognized Tax Benefits Presented In Balance Sheet (Details)
Income Taxes, Narrative (Details)
Income Taxes, Reconciliation Of Income Tax Expense (Benefit) (Details)
Income Taxes, Reconciliation Of Unrecognized Tax Benefits (Details)
Income Taxes, Schedule Of Income Taxes Paid (Refunded), Net (Details)
Income Taxes, Schedule Of Statutory Tax Rates (Details)
Income Taxes, Tax Credits And Loss Carryforwards (Details)
Inventories
Inventories (Details)
Inventories (Tables)
Leases
Leases (Tables)
Leases, Additional Information (Details)
Leases, Remaining Minimum Lease Payments (Details)
Leases, Rental Expense, Net Of Sublease Rental Income (Details)
Leases, Significant Lease Commencement (Details)
Leases, Total Lease Cost By Class Of Underlying Asset (Details)
Merger And Acquisitions
Merger And Acquisitions (Details)
Merger And Acquisitions (Tables)
Merger And Acquisitions, Fair Values Of Assets Acquired And Liabilities Assumed, Net (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)
Property, Plant, And Equipment
Property, Plant, And Equipment (Details)
Property, Plant, And Equipment (Tables)
Quarterly Financial Data (Unaudited)
Quarterly Financial Data (Unaudited) (Details)
Quarterly Financial Data (Unaudited) (Tables)
Receivables
Receivables (Details)
Receivables (Tables)
Revenues And Segment Information
Revenues And Segment Information (Tables)
Revenues And Segment Information, Activity (Details)
Revenues And Segment Information, Contract Balances (Details)
Revenues And Segment Information, Geographic Information By Country For Revenue And Long-Lived Assets (Details)
Revenues And Segment Information, Revenue By Product (Details)
Revenues And Segment Information, Total Assets By Reportable Segments (Details)
Stock-Based Compensation
Stock-Based Compensation (Details)
Stock-Based Compensation (Tables)
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 (Tables)
Variable Interest Entities, Consolidated (Details)
Ticker: VLO
CIK: 1035002
Form Type: 10-K Annual Report
Accession Number: 0001035002-21-000051
Submitted to the SEC: Tue Feb 23 2021 3:43:21 PM EST
Accepted by the SEC: Tue Feb 23 2021
Period: Thursday, December 31, 2020
Industry: Petroleum Refining

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