VALERO ENERGY CORP/TX (VLO) FY2026 Q2 Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2026-04-01 to 2026-06-30

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VALERO ENERGY CORP/TX cash flow reconciliation, Apr 1, 2026 through Jun 30, 2026One 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.Net income → Net cash from operating activities: $4,073,000,000.00Depreciation and amortization expense → Operating adjustments reconciliation: $737,000,000.00Current assets and current liabilities (see Note 11) → Operating adjustments reconciliation: $706,000,000.00Deferred income tax benefit → Operating adjustments reconciliation: $129,000,000.00Other operating activities, net → Operating adjustments reconciliation: $49,000,000.00Operating adjustments reconciliation → Net cash from operating activities: $1,507,000,000.00Operating adjustments reconciliation → Long-term liabilities: $98,000,000.00Operating adjustments reconciliation → Deferred charges and other assets: $16,000,000.00investing reconciliation → Capital expenditures - Excluding Variable Interest Entities (VIEs): $222,000,000.00investing reconciliation → Deferred turnaround and catalyst cost expenditures - Excluding Variable Interest Entities (VIEs): $120,000,000.00investing reconciliation → Other investing activities, net: $11,000,000.00investing reconciliation → Deferred turnaround and catalyst cost expenditures - Diamond Green Diesel Holdings LLC (DGD): $4,000,000.00investing reconciliation → Capital expenditures - Diamond Green Diesel Holdings LLC (DGD): $3,000,000.00investing reconciliation → Capital expenditures - Other VIEs: $1,000,000.00Net cash used in financing activities → financing reconciliation: $3,033,000,000.00Proceeds from debt issuances and borrowings - Diamond Green Diesel Holdings LLC (DGD) → financing reconciliation: $100,000,000.00Contributions from noncontrolling interests → financing reconciliation: $1,000,000.00financing reconciliation → Purchases of common stock for treasury: $2,263,000,000.00financing reconciliation → Common stock dividend payments: $355,000,000.00financing reconciliation → Distributions to noncontrolling interests: $222,000,000.00financing reconciliation → Repayments of debt and finance lease obligations - Diamond Green Diesel Holdings LLC (DGD): $207,000,000.00financing reconciliation → Repayments of debt and finance lease obligations - Excluding Variable Interest Entities (VIEs): $55,000,000.00financing reconciliation → Payment of excise tax on purchases of common stock for treasury: $25,000,000.00financing reconciliation → Repayments of debt and finance lease obligations - Other VIEs: $7,000,000.00Net cash used in investing activities → investing reconciliation: $361,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $5,912,000,000.00Net cash from operating activities → Cash sources and uses: $5,580,000,000.00Cash sources and uses → Exchange-rate effect: $44,000,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $8,054,000,000.00Cash sources and uses → Net cash used in investing activities: $361,000,000.00Cash sources and uses → Net cash used in financing activities: $3,033,000,000.00Net income: $4,073,000,000.00Net income+$4.07 BDepreciation and amortization expense: $737,000,000.00D&A and accretion+$737.00 MAsset impairment loss: $0.00Deferred income tax benefit: $129,000,000.00Deferred taxes & credits+$129.00 MCurrent assets and current liabilities (see Note 11): $706,000,000.00Current assets & liabilities+$706.00 MDeferred charges and other assets: -$16,000,000.00Deferred costs−$16.00 MLong-term liabilities: -$98,000,000.00Other noncurrent liabilities−$98.00 MOther operating activities, net: $49,000,000.00Other operating, net+$49.00 MNet cash from operating activities: $5,580,000,000.00Operating cash+$5.58 BOperating adjustments reconciliation: $1,621,000,000.00Proceeds from debt issuances and borrowings - Excluding Variable Interest Entities (VIEs): $0.00Proceeds from debt issuances and borrowings - Diamond Green Diesel Holdings LLC (DGD): $100,000,000.00Debt issued: DGD+$100.00 MRepayments of debt and finance lease obligations - Excluding Variable Interest Entities (VIEs): -$55,000,000.00Debt & leases repaid: non-VIE−$55.00 MRepayments of debt and finance lease obligations - Diamond Green Diesel Holdings LLC (DGD): -$207,000,000.00Debt & leases repaid: DGD−$207.00 MRepayments of debt and finance lease obligations - Other VIEs: -$7,000,000.00Debt & leases repaid: other VIEs−$7.00 MPurchases of common stock for treasury: -$2,263,000,000.00Common stock repurchases−$2.26 BPayment of excise tax on purchases of common stock for treasury: -$25,000,000.00Stock buyback excise tax paid−$25.00 MCommon stock dividend payments: -$355,000,000.00Common dividends paid−$355.00 MContributions from noncontrolling interests: $1,000,000.00From noncontrolling interests+$1.00 MDistributions to noncontrolling interests: -$222,000,000.00Noncontrolling dividends−$222.00 MOther financing activities, net: $0.00Net cash used in financing activities: -$3,033,000,000.00. Cash required to fund net payments.Financing cash−$3.03 Bfinancing reconciliation: $3,134,000,000.00Capital expenditures - Excluding Variable Interest Entities (VIEs): -$222,000,000.00PP&E purchases: non-VIE−$222.00 MCapital expenditures - Diamond Green Diesel Holdings LLC (DGD): -$3,000,000.00PP&E purchases: DGD−$3.00 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): -$120,000,000.00Turnaround costs: non-VIE−$120.00 MDeferred turnaround and catalyst cost expenditures - Diamond Green Diesel Holdings LLC (DGD): -$4,000,000.00Turnaround costs: DGD−$4.00 MInvestments in nonconsolidated joint ventures: $0.00Other investing activities, net: -$11,000,000.00Other investing, net−$11.00 MNet cash used in investing activities: -$361,000,000.00. Cash required to fund net payments.Investing cash−$361.00 Minvesting reconciliation: $361,000,000.00Cash sources and uses: $11,492,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $5,912,000,000.00Beginning cash$5.91 BEnding cash: Cash, cash equivalents, and restricted cash: $8,054,000,000.00Ending cash$8.05 BExchange-rate effect: -$44,000,000.00FX effect−$44.00 MCASH RECONCILIATIONOperatingflowsInvestingflowsFinancingflowsFree cash flow$5.36 BOperating cash − cash spent on PP&ECash flow / Net income1.37×Operating cash flow ÷ net incomeNet cash change+$2.14 BEnding cash − beginning cash
Chart details

VALERO ENERGY CORP/TX cash flow reconciliation, Apr 1, 2026 through Jun 30, 2026

Cash flows for Apr 1, 2026 through Jun 30, 2026. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Mar 31, 2026. Ending cash: Jun 30, 2026. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Mar 31, 2026
5,912,000,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
5,580,000,000 US dollars. Net cash provided.
Net income
4,073,000,000 US dollars
Depreciation and amortization expense
737,000,000 US dollars
Asset impairment loss
0 US dollars
Deferred income tax benefit
129,000,000 US dollars
Current assets and current liabilities (see Note 11)
706,000,000 US dollars
Deferred charges and other assets
negative 16,000,000 US dollars
Long-term liabilities
negative 98,000,000 US dollars
Other operating activities, net
49,000,000 US dollars
Investing activities
negative 361,000,000 US dollars. Net cash used.
Capital expenditures - Excluding Variable Interest Entities (VIEs)
negative 222,000,000 US dollars
Capital expenditures - Diamond Green Diesel Holdings LLC (DGD)
negative 3,000,000 US dollars
Capital expenditures - Other VIEs
negative 1,000,000 US dollars
Deferred turnaround and catalyst cost expenditures - Excluding Variable Interest Entities (VIEs)
negative 120,000,000 US dollars
Deferred turnaround and catalyst cost expenditures - Diamond Green Diesel Holdings LLC (DGD)
negative 4,000,000 US dollars
Investments in nonconsolidated joint ventures
0 US dollars
Other investing activities, net
negative 11,000,000 US dollars
Financing activities
negative 3,033,000,000 US dollars. Net cash used.
Proceeds from debt issuances and borrowings - Excluding Variable Interest Entities (VIEs)
0 US dollars
Proceeds from debt issuances and borrowings - Diamond Green Diesel Holdings LLC (DGD)
100,000,000 US dollars
Repayments of debt and finance lease obligations - Excluding Variable Interest Entities (VIEs)
negative 55,000,000 US dollars
Repayments of debt and finance lease obligations - Diamond Green Diesel Holdings LLC (DGD)
negative 207,000,000 US dollars
Repayments of debt and finance lease obligations - Other VIEs
negative 7,000,000 US dollars
Purchases of common stock for treasury
negative 2,263,000,000 US dollars
Payment of excise tax on purchases of common stock for treasury
negative 25,000,000 US dollars
Common stock dividend payments
negative 355,000,000 US dollars
Contributions from noncontrolling interests
1,000,000 US dollars
Distributions to noncontrolling interests
negative 222,000,000 US dollars
Other financing activities, net
0 US dollars
Operating adjustment reconciliation
1,621,000,000 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
3,134,000,000 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
361,000,000 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
negative 44,000,000 US dollars
Ending cash on Jun 30, 2026
8,054,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
11,492,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
2,142,000,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
1.37×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.
Operating cash flow
5,580,000,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
222,000,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
5,358,000,000 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 income enters operating cash directly in the reconciliation. The adjustment junction contributes the remaining $1.51B after reconciling the other positive and negative adjustments. These connections depict an accounting reconciliation, not traced cash receipts.
  • 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: 5,580,000,000 US dollars minus 222,000,000 US dollars equals 5,358,000,000 US dollars.
VALERO ENERGY CORP/TX (VLO) FY2026 Q2 Statement of Cash Flows Sankey chart
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