Balance Sheet: Liabilities and Stockholders’ Equity

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.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Valero Energy Corp., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Current portion of debt and finance lease obligations	1,406)	1,109)	1,264)	723)	494)
Accounts payable	12,567)	12,728)	12,495)	6,082)	10,205)
Current operating lease liabilities	360)	311)	315)	285)	331)
Defined benefit plan liabilities	55)	35)	41)	45)	37)
Environmental liabilities	23)	21)	35)	59)	27)
Wage and other employee-related liabilities	392)	388)	349)	210)	292)
Accrued interest expense	83)	67)	88)	99)	83)
Contract liabilities from contracts with customers	40)	129)	78)	56)	55)
Blending program obligations	83)	189)	268)	159)	31)
Other accrued liabilities	204)	75)	79)	81)	93)
Accrued expenses	1,240)	1,215)	1,253)	994)	949)
Taxes other than income taxes payable	1,452)	1,568)	1,461)	1,372)	1,304)
Income taxes payable	137)	841)	378)	112)	208)
Current liabilities	16,802)	17,461)	16,851)	9,283)	13,160)
Debt and finance lease obligations, less current portion	10,118)	10,526)	12,606)	13,954)	9,178)
Deferred income tax liabilities	5,349)	5,217)	5,210)	5,275)	5,103)
Noncurrent operating lease liabilities	753)	776)	940)	885)	959)
Liability for unrecognized tax benefits	238)	239)	863)	859)	954)
Defined benefit plan liabilities	476)	448)	601)	878)	834)
Repatriation tax liability	167)	301)	367)	422)	508)
Environmental liabilities	294)	296)	269)	272)	319)
Wage and other employee-related liabilities	90)	87)	133)	124)	121)
Other accrued liabilities	245)	163)	231)	180)	192)
Other long-term liabilities	2,263)	2,310)	3,404)	3,620)	3,887)
Long-term liabilities	17,730)	18,053)	21,220)	22,849)	18,168)
Total liabilities	34,532)	35,514)	38,071)	32,132)	31,328)
Common stock, $0.01 par value	7)	7)	7)	7)	7)
Additional paid-in capital	6,901)	6,863)	6,827)	6,814)	6,821)
Treasury stock, at cost	(25,322)	(20,197)	(15,677)	(15,719)	(15,648)
Retained earnings	45,630)	38,247)	28,281)	28,953)	31,974)
Accumulated other comprehensive loss	(870)	(1,359)	(1,008)	(1,254)	(1,351)
Total Valero Energy Corporation stockholders’ equity	26,346)	23,561)	18,430)	18,801)	21,803)
Noncontrolling interests	2,178)	1,907)	1,387)	841)	733)
Total equity	28,524)	25,468)	19,817)	19,642)	22,536)
Total liabilities and equity	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).

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Balance sheet item	Description	The company
Current liabilities	Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.	Valero Energy Corp. current liabilities increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Long-term liabilities	Amount of obligation due after one year or beyond the normal operating cycle, if longer.	Valero Energy Corp. long-term liabilities decreased from 2021 to 2022 and from 2022 to 2023.
Total liabilities	Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.	Valero Energy Corp. total liabilities decreased from 2021 to 2022 and from 2022 to 2023.
Total Valero Energy Corporation stockholders’ equity	Total of all stockholders’ equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity stockholders’ equity attributable to the parent excludes the amount of stockholders’ equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.	Valero Energy Corp. total Valero Energy Corporation stockholders’ equity increased from 2021 to 2022 and from 2022 to 2023.

Valero Energy Corp. (NYSE:VLO)

Balance Sheet: Liabilities and Stockholders’ Equity