VALERO ENERGY CORP/TX (VLO) FY2025 Q1 Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2025-01-01 to 2025-03-31

Swipe to see the full flow
VALERO ENERGY CORP/TX cash flow reconciliation, Jan 1, 2025 through Mar 31, 2025One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash. Intermediate calculation bars are lighter gray. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Free cash flow is a separate comparison, not an added cash flow. Read chart description and values below for full signed amounts, including zero items.Asset impairment loss → operating reconciliation: $1,131,000,000.00Depreciation and amortization expense → operating reconciliation: $691,000,000.00Changes in current assets and current liabilities → operating reconciliation: $157,000,000.00operating reconciliation → Net cash from operating activities: $952,000,000.00operating reconciliation → Net income (loss): $652,000,000.00operating reconciliation → Deferred income tax benefit: $324,000,000.00operating reconciliation → Changes in deferred charges and credits and other operating activities, net: $51,000,000.00Other investing activities, net → investing reconciliation: $21,000,000.00Proceeds from sales and maturities of AFS debt securities → investing reconciliation: $9,000,000.00investing reconciliation → Deferred turnaround and catalyst cost expenditures - Excluding Variable Interest Entities (VIEs): $374,000,000.00investing reconciliation → Capital expenditures - Excluding Variable Interest Entities (VIEs): $189,000,000.00investing reconciliation → Capital expenditures - Diamond Green Diesel Holdings LLC (DGD): $59,000,000.00investing reconciliation → Deferred turnaround and catalyst cost expenditures - Diamond Green Diesel Holdings LLC (DGD): $36,000,000.00investing reconciliation → Purchases of available-for-sale (AFS) debt securities: $5,000,000.00investing reconciliation → Capital expenditures - Other VIEs: $1,000,000.00investing reconciliation → Investments in nonconsolidated joint ventures: $1,000,000.00Net cash used in financing activities → financing reconciliation: $382,000,000.00Proceeds from debt issuance and borrowings - Excluding Variable Interest Entities (VIEs) → financing reconciliation: $2,449,000,000.00Proceeds from debt issuance and borrowings - Diamond Green Diesel Holdings LLC (DGD) → financing reconciliation: $50,000,000.00financing reconciliation → Repayments of debt and finance lease obligations - Excluding Variable Interest Entities (VIEs): $2,047,000,000.00financing reconciliation → Common stock dividend payments: $356,000,000.00financing reconciliation → Purchases of common stock for treasury: $274,000,000.00financing reconciliation → Distributions to noncontrolling interests: $129,000,000.00financing reconciliation → Repayments of debt and finance lease obligations - Diamond Green Diesel Holdings LLC (DGD): $57,000,000.00financing reconciliation → Repayments of debt and finance lease obligations - Other VIEs: $12,000,000.00financing reconciliation → Other financing activities, net: $6,000,000.00Net cash used in investing activities → investing reconciliation: $635,000,000.00Exchange-rate effect → Cash sources and uses: $43,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $4,829,000,000.00Net cash from operating activities → Cash sources and uses: $952,000,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $4,807,000,000.00Cash sources and uses → Net cash used in investing activities: $635,000,000.00Cash sources and uses → Net cash used in financing activities: $382,000,000.00Net income (loss): -$652,000,000.00Net income (loss)−$652.00 MDepreciation and amortization expense: $691,000,000.00D&A and accretion+$691.00 MAsset impairment loss: $1,131,000,000.00Long-lived asset impairment+$1.13 BDeferred income tax benefit: -$324,000,000.00Deferred taxes & credits−$324.00 MChanges in current assets and current liabilities: $157,000,000.00Current assets & liabilities+$157.00 MChanges in deferred charges and credits and other operating activities, net: -$51,000,000.00Other noncurrent items−$51.00 MNet cash from operating activities: $952,000,000.00Operating cash+$952.00 Moperating reconciliation: $1,979,000,000.00Proceeds from debt issuance and borrowings - Excluding Variable Interest Entities (VIEs): $2,449,000,000.00Proceeds from debt issuance and borrowings -Excluding Variable Interest Entities (VIEs)+$2.45 BProceeds from debt issuance and borrowings - Diamond Green Diesel Holdings LLC (DGD): $50,000,000.00Proceeds from debt issuance and borrowings -Diamond Green Diesel Holdings LLC (DGD)+$50.00 MProceeds from debt borrowings of other VIEs - Other VIEs: $0.00Repayments of debt and finance lease obligations - Excluding Variable Interest Entities (VIEs): -$2,047,000,000.00Debt & leases repaid: non-VIE−$2.05 BRepayments of debt and finance lease obligations - Diamond Green Diesel Holdings LLC (DGD): -$57,000,000.00Debt & leases repaid: DGD−$57.00 MRepayments of debt and finance lease obligations - Other VIEs: -$12,000,000.00Debt & leases repaid: other VIEs−$12.00 MPurchases of common stock for treasury: -$274,000,000.00Common stock repurchases−$274.00 MCommon stock dividend payments: -$356,000,000.00Common dividends paid−$356.00 MContributions from noncontrolling interests: $0.00Distributions to noncontrolling interests: -$129,000,000.00Noncontrolling dividends−$129.00 MOther financing activities, net: -$6,000,000.00Other financing, net−$6.00 MNet cash used in financing activities: -$382,000,000.00. Cash required to fund net payments.Financing cash−$382.00 Mfinancing reconciliation: $2,881,000,000.00Capital expenditures - Excluding Variable Interest Entities (VIEs): -$189,000,000.00PP&E purchases: non-VIE−$189.00 MCapital expenditures - Diamond Green Diesel Holdings LLC (DGD): -$59,000,000.00PP&E purchases: DGD−$59.00 MCapital expenditures - Other VIEs: -$1,000,000.00PP&E purchases: other VIEs−$1.00 MDeferred turnaround and catalyst cost expenditures - Excluding Variable Interest Entities (VIEs): -$374,000,000.00Turnaround costs: non-VIE−$374.00 MDeferred turnaround and catalyst cost expenditures - Diamond Green Diesel Holdings LLC (DGD): -$36,000,000.00Turnaround costs: DGD−$36.00 MPurchases of available-for-sale (AFS) debt securities: -$5,000,000.00AFS securities purchases−$5.00 MProceeds from sales and maturities of AFS debt securities: $9,000,000.00AFS securities proceeds+$9.00 MInvestments in nonconsolidated joint ventures: -$1,000,000.00Joint venture investments−$1.00 MOther investing activities, net: $21,000,000.00Other investing, net+$21.00 MNet cash used in investing activities: -$635,000,000.00. Cash required to fund net payments.Investing cash−$635.00 Minvesting reconciliation: $665,000,000.00Cash sources and uses: $5,824,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $4,829,000,000.00Beginning cash$4.83 BEnding cash: Cash, cash equivalents, and restricted cash: $4,807,000,000.00Ending cash$4.81 BExchange-rate effect: $43,000,000.00FX effect+$43.00 MCASH RECONCILIATIONOperatingflowsInvestingflowsFinancingflowsNet loss −$652.00M + net operating adjustments $1.60B = operating cash +$952.00MFree cash flow$763.00 MOperating cash − cash spent on PP&ECash flow / Net incomeNot meaningfulOperating cash flow ÷ net incomeNet cash change−$22.00 MEnding cash − beginning cash
Chart details

VALERO ENERGY CORP/TX cash flow reconciliation, Jan 1, 2025 through Mar 31, 2025

Cash flows for Jan 1, 2025 through Mar 31, 2025. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Dec 31, 2024. Ending cash: Mar 31, 2025. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Dec 31, 2024
4,829,000,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
952,000,000 US dollars. Net cash provided.
Net income (loss)
negative 652,000,000 US dollars
Depreciation and amortization expense
691,000,000 US dollars
Asset impairment loss
1,131,000,000 US dollars
Deferred income tax benefit
negative 324,000,000 US dollars
Changes in current assets and current liabilities
157,000,000 US dollars
Changes in deferred charges and credits and other operating activities, net
negative 51,000,000 US dollars
Investing activities
negative 635,000,000 US dollars. Net cash used.
Capital expenditures - Excluding Variable Interest Entities (VIEs)
negative 189,000,000 US dollars
Capital expenditures - Diamond Green Diesel Holdings LLC (DGD)
negative 59,000,000 US dollars
Capital expenditures - Other VIEs
negative 1,000,000 US dollars
Deferred turnaround and catalyst cost expenditures - Excluding Variable Interest Entities (VIEs)
negative 374,000,000 US dollars
Deferred turnaround and catalyst cost expenditures - Diamond Green Diesel Holdings LLC (DGD)
negative 36,000,000 US dollars
Purchases of available-for-sale (AFS) debt securities
negative 5,000,000 US dollars
Proceeds from sales and maturities of AFS debt securities
9,000,000 US dollars
Investments in nonconsolidated joint ventures
negative 1,000,000 US dollars
Other investing activities, net
21,000,000 US dollars
Financing activities
negative 382,000,000 US dollars. Net cash used.
Proceeds from debt issuance and borrowings - Excluding Variable Interest Entities (VIEs)
2,449,000,000 US dollars
Proceeds from debt issuance and borrowings - Diamond Green Diesel Holdings LLC (DGD)
50,000,000 US dollars
Proceeds from debt borrowings of other VIEs - Other VIEs
0 US dollars
Repayments of debt and finance lease obligations - Excluding Variable Interest Entities (VIEs)
negative 2,047,000,000 US dollars
Repayments of debt and finance lease obligations - Diamond Green Diesel Holdings LLC (DGD)
negative 57,000,000 US dollars
Repayments of debt and finance lease obligations - Other VIEs
negative 12,000,000 US dollars
Purchases of common stock for treasury
negative 274,000,000 US dollars
Common stock dividend payments
negative 356,000,000 US dollars
Contributions from noncontrolling interests
0 US dollars
Distributions to noncontrolling interests
negative 129,000,000 US dollars
Other financing activities, net
negative 6,000,000 US dollars
Operating adjustment reconciliation
1,979,000,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
financing gross reconciliation
2,881,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing gross reconciliation
665,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
Exchange-rate effect
43,000,000 US dollars
Ending cash on Mar 31, 2025
4,807,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
5,824,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
negative 22,000,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
Not meaningful. Operating cash flow divided by reconciliation net income for the same period. The ratio is not meaningful when net income is zero or negative.
Operating cash flow
952,000,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
189,000,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
763,000,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net loss −$652.00M + net operating adjustments $1.60B = operating cash +$952.00M. The loss reduces the earnings basis of the reconciliation; it is not a cash payment. The signed loss remains a deduction at the operating reconciliation junction.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
  • Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: 952,000,000 US dollars minus 189,000,000 US dollars equals 763,000,000 US dollars.
VALERO ENERGY CORP/TX (VLO) FY2025 Q1 Statement of Cash Flows Sankey chart
Free to share unchanged, with credit to Plicit.ai · CC BY-NC-ND 4.0Download PNG

Newsletter

Get the teardowns by email

Subscribe if you want the public-company teardowns in your inbox when they're released.

Product waitlist

Health Check and Teardown for your own company

A health check uncovers insights of your private books, not a public ticker. Join this list to get notified as soon as we go-live!