Stock Analysis on Net

Valero Energy Corp. (NYSE:VLO)

$24.99

Adjustments to Financial Statements

Microsoft Excel

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Adjustments to Current Assets

Valero Energy Corp., adjusted current assets

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
As Reported
Current assets
Adjustments
Add: Allowance for credit losses
Add: LIFO reserve1
After Adjustment
Adjusted current assets

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 LIFO reserve. See details »


Adjustments to Total Assets

Valero Energy Corp., adjusted total assets

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
As Reported
Total assets
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)1
Add: Allowance for credit losses
Add: LIFO reserve2
After Adjustment
Adjusted total assets

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

2 LIFO reserve. See details »


Adjustments to Total Liabilities

Valero Energy Corp., adjusted total liabilities

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
As Reported
Total liabilities
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)1
Less: Deferred income tax liabilities2
After Adjustment
Adjusted total liabilities

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Deferred income tax liabilities. See details »


Adjustments to Stockholders’ Equity

Valero Energy Corp., adjusted total Valero Energy Corporation stockholders’ equity

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
As Reported
Total Valero Energy Corporation stockholders’ equity
Adjustments
Less: Net deferred income tax assets (liabilities)1
Add: Allowance for credit losses
Add: LIFO reserve2
Add: Noncontrolling interests
After Adjustment
Adjusted total equity

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 Net deferred income tax assets (liabilities). See details »

2 LIFO reserve. See details »


Adjustments to Capitalization Table

Valero Energy Corp., adjusted capitalization table

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
As Reported
Current portion of debt and finance lease obligations
Debt and finance lease obligations, less current portion
Total reported debt
Total Valero Energy Corporation stockholders’ equity
Total reported capital
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)1
Add: Current operating lease liabilities2
Add: Noncurrent operating lease liabilities3
Adjusted total debt
Adjustments to Equity
Less: Net deferred income tax assets (liabilities)4
Add: Allowance for credit losses
Add: LIFO reserve5
Add: Noncontrolling interests
Adjusted total equity
After Adjustment
Adjusted total capital

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Current operating lease liabilities. See details »

3 Noncurrent operating lease liabilities. See details »

4 Net deferred income tax assets (liabilities). See details »

5 LIFO reserve. See details »


Adjustments to Reported Income

Valero Energy Corp., adjusted net income (loss) attributable to Valero Energy Corporation stockholders

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
As Reported
Net income (loss) attributable to Valero Energy Corporation stockholders
Adjustments
Add: Deferred income tax expense (benefit)1
Add: Increase (decrease) in allowance for credit losses
Add: Increase (decrease) in LIFO reserve2
Add: Other comprehensive income (loss)
Add: Comprehensive income (loss), net of tax, attributable to noncontrolling interest
After Adjustment
Adjusted net income (loss)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 Deferred income tax expense (benefit). See details »

2 Increase (decrease) in LIFO reserve. See details »