Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Valero Energy Corp., consolidated balance sheet: assets

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash and cash equivalents	5,424)	4,862)	4,122)	3,313)	2,583)
Receivables after allowance for credit losses	11,038)	10,761)	9,968)	4,807)	8,058)
Income taxes receivable	409)	142)	21)	1,024)	84)
Other receivables	1,078)	1,016)	389)	278)	846)
Receivables, net	12,525)	11,919)	10,378)	6,109)	8,988)
Inventories	7,583)	6,752)	6,265)	6,038)	7,013)
Prepaid expenses and other	689)	600)	400)	384)	385)
Current assets	26,221)	24,133)	21,165)	15,844)	18,969)
Property, plant, and equipment, net	30,209)	30,978)	30,847)	30,389)	29,264)
Deferred turnaround and catalyst costs, net	2,382)	2,139)	1,853)	1,703)	1,778)
Operating lease ROU assets, net	1,136)	1,114)	1,284)	1,204)	1,329)
Investments in nonconsolidated joint ventures	713)	724)	734)	972)	942)
Purchased compliance credits	612)	543)	222)	—)	—)
Goodwill	260)	260)	260)	260)	260)
Intangible assets, net	183)	202)	218)	248)	283)
Income taxes receivable	56)	26)	586)	589)	525)
Other	1,284)	863)	719)	565)	514)
Deferred charges and other assets, net	6,626)	5,871)	5,876)	5,541)	5,631)
Noncurrent assets	36,835)	36,849)	36,723)	35,930)	34,895)
Total assets	63,056)	60,982)	57,888)	51,774)	53,864)

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).

Assets: Selected Items

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Balance sheet item	Description	The company
Current assets	Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.	Valero Energy Corp. current assets increased from 2021 to 2022 and from 2022 to 2023.
Property, plant, and equipment, net	Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	Valero Energy Corp. property, plant, and equipment, net increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Noncurrent assets	Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer.	Valero Energy Corp. noncurrent assets increased from 2021 to 2022 but then slightly decreased from 2022 to 2023.
Total assets	Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.	Valero Energy Corp. total assets increased from 2021 to 2022 and from 2022 to 2023.

Current Assets: Selected Items

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Balance sheet item	Description	The company
Cash and cash equivalents	Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.	Valero Energy Corp. cash and cash equivalents increased from 2021 to 2022 and from 2022 to 2023.
Receivables after allowance for credit losses	Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.	Valero Energy Corp. receivables after allowance for credit losses increased from 2021 to 2022 and from 2022 to 2023.
Receivables, net	The total amount due to the entity within one year of the balance sheet date (or one operating cycle, if longer) from outside sources, including trade accounts receivable, notes and loans receivable, as well as any other types of receivables, net of allowances established for the purpose of reducing such receivables to an amount that approximates their net realizable value.	Valero Energy Corp. receivables, net increased from 2021 to 2022 and from 2022 to 2023.
Inventories	Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.	Valero Energy Corp. inventories increased from 2021 to 2022 and from 2022 to 2023.

Valero Energy Corp. (NYSE:VLO)

Balance Sheet: Assets

Assets: Selected Items

Current Assets: Selected Items