XML 36 R6.htm IDEA: XBRL DOCUMENT v2.4.1.9
Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Millions, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Cash flows from operating activities:    
Net income $ 968us-gaap_ProfitLoss $ 836us-gaap_ProfitLoss
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 441us-gaap_DepreciationDepletionAndAmortization 421us-gaap_DepreciationDepletionAndAmortization
Deferred income tax expense (benefit) (61)us-gaap_DeferredIncomeTaxesAndTaxCredits 88us-gaap_DeferredIncomeTaxesAndTaxCredits
Changes in current assets and current liabilities 57us-gaap_IncreaseDecreaseInOtherCurrentAssetsAndLiabilitiesNet (1,088)us-gaap_IncreaseDecreaseInOtherCurrentAssetsAndLiabilitiesNet
Changes in deferred charges and credits and other operating activities, net 28us-gaap_IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet (13)us-gaap_IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet
Net cash provided by operating activities 1,433us-gaap_NetCashProvidedByUsedInOperatingActivities 244us-gaap_NetCashProvidedByUsedInOperatingActivities
Cash flows from investing activities:    
Capital expenditures (458)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (388)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Deferred turnaround and catalyst costs (240)us-gaap_PaymentsForCapitalImprovements (129)us-gaap_PaymentsForCapitalImprovements
Other investing activities, net (15)us-gaap_PaymentsForProceedsFromOtherInvestingActivities (41)us-gaap_PaymentsForProceedsFromOtherInvestingActivities
Net cash used in investing activities (713)us-gaap_NetCashProvidedByUsedInInvestingActivities (558)us-gaap_NetCashProvidedByUsedInInvestingActivities
Cash flows from financing activities:    
Proceeds from debt issuances 1,446us-gaap_ProceedsFromIssuanceOfLongTermDebt 0us-gaap_ProceedsFromIssuanceOfLongTermDebt
Repayment of debt (402)us-gaap_RepaymentsOfLongTermDebt 0us-gaap_RepaymentsOfLongTermDebt
Proceeds from the exercise of stock options 15us-gaap_ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions 24us-gaap_ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
Purchase of common stock for treasury (325)us-gaap_PaymentsForRepurchaseOfCommonStock (226)us-gaap_PaymentsForRepurchaseOfCommonStock
Common stock dividends (206)us-gaap_PaymentsOfDividendsCommonStock (133)us-gaap_PaymentsOfDividendsCommonStock
Distributions to public unitholders of Valero Energy Partners LP (5)us-gaap_PaymentsOfDividendsMinorityInterest (1)us-gaap_PaymentsOfDividendsMinorityInterest
Other financing activities, net 3us-gaap_ProceedsFromPaymentsForOtherFinancingActivities 24us-gaap_ProceedsFromPaymentsForOtherFinancingActivities
Net cash provided by (used in) financing activities 526us-gaap_NetCashProvidedByUsedInFinancingActivities (312)us-gaap_NetCashProvidedByUsedInFinancingActivities
Effect of foreign exchange rate changes on cash (65)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents (19)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents
Net increase (decrease) in cash and temporary cash investments 1,181us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (645)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and temporary cash investments at beginning of period 3,689us-gaap_CashAndCashEquivalentsAtCarryingValue 4,292us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and temporary cash investments at end of period $ 4,870us-gaap_CashAndCashEquivalentsAtCarryingValue $ 3,647us-gaap_CashAndCashEquivalentsAtCarryingValue