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Valero Energy Corptx (VLO) SEC Filing 10-K Annual Report for the fiscal year ending Saturday, December 31, 2022

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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 2022 Fourth Quarter and Full Year Results

•Reported net income attributable to Valero stockholders of $3.1 billion, or $8.15 per share, for the fourth quarter and $11.5 billion, or $29.04 per share, for the year
•Reported adjusted net income attributable to Valero stockholders of $3.2 billion, or $8.45 per share, for the fourth quarter and $11.6 billion, or $29.16 per share, for the year
•Reduced debt by $2.7 billion in 2022, bringing Valero’s aggregate debt reduction since the second half of 2021 to $4.0 billion
•Successfully commenced operations of the new DGD Port Arthur plant in the fourth quarter

SAN ANTONIO, January 26, 2023 – Valero Energy Corporation (NYSE: VLO, “Valero”) today reported net income attributable to Valero stockholders of $3.1 billion, or $8.15 per share, for the fourth quarter of 2022, compared to $1.0 billion, or $2.46 per share, for the fourth quarter of 2021. Excluding the adjustments shown in the accompanying earnings release tables, adjusted net income attributable to Valero stockholders was $3.2 billion, or $8.45 per share, for the fourth quarter of 2022, compared to $988 million, or $2.41 per share, for the fourth quarter of 2021.

For 2022, net income attributable to Valero stockholders was $11.5 billion, or $29.04 per share, compared to $930 million, or $2.27 per share, in 2021. Excluding the adjustments shown in the accompanying earnings release tables, adjusted net income attributable to Valero stockholders was $11.6 billion, or $29.16 per share, in 2022, compared to $1.2 billion, or $2.81 per share, in 2021.

Refining
The Refining segment reported operating income of $4.3 billion for the fourth quarter of 2022, compared to $1.3 billion for the fourth quarter of 2021. Adjusted operating income for the fourth quarter of 2022 was $4.4 billion, compared to $1.1 billion for the fourth quarter of 2021. Refining throughput volumes averaged 3.0 million barrels per day in the fourth quarter of 2022.

“Our refineries operated at a 97 percent capacity utilization rate in the fourth quarter, which is the highest utilization rate for our system since 2018,” said Joe Gorder, Valero’s Chairman and Chief Executive Officer, “I am also proud to report that 2022 was Valero’s best year ever for combined employee and contractor safety, which is a testament to our long-standing commitment to safe, reliable and environmentally responsible operations.”
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The following information was filed by Valero Energy Corptx (VLO) on Thursday, January 26, 2023 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)
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)
Variable Interest Entities
Variable Interest Entities (Tables)
Variable Interest Entities, Consolidated (Details)
Ticker: VLO
CIK: 1035002
Form Type: 10-K Annual Report
Accession Number: 0001035002-23-000027
Submitted to the SEC: Thu Feb 23 2023 2:28:38 PM EST
Accepted by the SEC: Thu Feb 23 2023
Period: Saturday, December 31, 2022
Industry: Petroleum Refining

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