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Valero Energy Corptx (VLO) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

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Valero Energy Corptx

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CIK: 1035002 Ticker: VLO
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Exhibit 99.01

Valero Energy Reports 2021 Fourth Quarter and Full Year Results

•Reported net income attributable to Valero stockholders of $1,009 million, or $2.46 per share, for the fourth quarter and $930 million, or $2.27 per share, for the year.
•Reported adjusted net income attributable to Valero stockholders of $1,012 million, or $2.47 per share, for the fourth quarter and $1,152 million, or $2.81 per share, for the year.
•Returned $401 million in cash to stockholders in the fourth quarter and $1.6 billion in the year through dividends.
•Reduced Valero’s long-term debt by $693 million in the fourth quarter and by $1.3 billion in 2021.
•Startup of the Diamond Green Diesel project at Port Arthur (DGD 3) is now expected to be in the first quarter of 2023.

SAN ANTONIO, January 27, 2022 – Valero Energy Corporation (NYSE: VLO, “Valero”) today reported net income attributable to Valero stockholders of $1,009 million, or $2.46 per share, for the fourth quarter of 2021, compared to a net loss of $359 million, or $0.88 per share, for the fourth quarter of 2020. Excluding the adjustments shown in the accompanying earnings release tables, fourth quarter 2021 adjusted net income attributable to Valero stockholders was $1,012 million, or $2.47 per share, compared to an adjusted net loss of $429 million, or $1.06 per share, for the fourth quarter of 2020.

For 2021, net income attributable to Valero stockholders was $930 million, or $2.27 per share, compared to a net loss of $1,421 million, or $3.50 per share, in 2020. Excluding the adjustments shown in the accompanying earnings release tables, adjusted net income attributable to Valero stockholders was $1,152 million, or $2.81 per share, in 2021, compared to an adjusted net loss of $1,265 million, or $3.12 per share, in 2020.

“We saw continued improvement in our business during the fourth quarter with margins supported by strong product demand,” said Joe Gorder, Valero Chairman and Chief Executive Officer. “Looking ahead, we remain optimistic on refining margins with low global light product inventories, strong demand, global supply tightness due to significant refining capacity rationalization, and wider sour crude oil differentials.”

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The following information was filed by Valero Energy Corptx (VLO) on Thursday, January 27, 2022 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

Audit Information
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, Activity Under Credit Facilities (Details)
Debt And Finance Lease Obligations, Credit Facilities (Details)
Debt And Finance Lease Obligations, Interest Incurred (Details)
Debt And Finance Lease Obligations, Principal Maturities (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)
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, Income Taxes Paid (Refunded), Net (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, 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, Significant Lease Commencement (Details)
Leases, Total Lease Cost By Class Of Underlying Asset (Details)
Merger With Vlp
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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 (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)
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
Variable Interest Entities
Variable Interest Entities (Tables)
Variable Interest Entities, Consolidated (Details)
Ticker: VLO
CIK: 1035002
Form Type: 10-K Annual Report
Accession Number: 0001035002-22-000007
Submitted to the SEC: Tue Feb 22 2022 2:55:26 PM EST
Accepted by the SEC: Tue Feb 22 2022
Period: Friday, December 31, 2021
Industry: Petroleum Refining

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