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Debt and Finance Lease Obligations (Tables)
 12 Months Ended
Dec. 31, 2022
Debt and Lease Obligation [Abstract]  
Debt and finance lease obligations
Debt, at stated values, and finance lease obligations consisted of the following (in millions):
Final
Maturity		December 31,
20222021
Credit facilities:
Valero Revolver
2027$— $— 
Canadian Revolver
2023— — 
Accounts Receivable Sales Facility2023— — 
DGD Revolver2024100 100 
DGD Loan Agreement202325 25 
IEnova Revolver
2028717 679 
Public debt:
Valero Senior Notes
1.200%
2024167 169 
2.850%
2025251 1,050 
3.65%
2025189 324 
3.400%
2026426 1,250 
2.150%
2027578 600 
4.350%
2028606 750 
4.000%
2029439 1,000 
8.75%
2030200 200 
2.800%
2031472 500 
7.5%
2032733 750 
6.625%
20371,442 1,500 
6.75%
203724 24 
10.500%
2039113 113 
4.90%
2045626 650 
3.650%
2051855 950 
4.000%
2052553 — 
7.45%
209770 100 
VLP Senior Notes
4.375%
2026146 376 
4.500%
2028474 500 
Debenture, 7.65%
2026100 100 
Gulf Opportunity Zone Revenue Bonds, Series 2010, 4.00%
2040— 300 
Other debt202319 26 
Net unamortized debt issuance costs and other(84)(86)
Total debt9,241 11,950 
Finance lease obligations (see Note 4)
2,394 1,920 
Total debt and finance lease obligations11,635 13,870 
Less: Current portion1,109 1,264 
Debt and finance lease obligations, less current portion$10,526 $12,606 
Summary of credit facilities
We had outstanding borrowings, letters of credit issued, and availability under our credit facilities as follows (amounts in millions and currency in U.S. dollars, except as noted):
December 31, 2022
Facility
Amount		Maturity DateOutstanding
Borrowings		Letters of Credit
Issued (a)		Availability
Committed facilities:
Valero Revolver$4,000 November 2027$— $6 $3,994 
Canadian RevolverC$150 November 2023C$— C$5 C$145 
Accounts receivable
sales facility
$1,300 July 2023$— n/a$1,300 
Committed facilities of
VIEs (b):
DGD Revolver$400 March 2024$100 $117 $183 
DGD Loan Agreement (c)$25 April 2023$25 n/a$— 
IEnova Revolver$830 February 2028$717 n/a$113 
Uncommitted facilities:
Letter of credit facilitiesn/an/an/a$1,523 n/a
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(a)Letters of credit issued as of December 31, 2022 expire at various times in 2023 through 2024.
(b)Creditors of the VIEs do not have recourse against us.
(c)The amounts shown for this facility represent the facility amount available from, and borrowings outstanding to, the noncontrolling member as any transactions between DGD and us under this facility are eliminated in consolidation.
Activity under our credit facilities was as follows (in millions):
Year Ended December 31,
202220212020
Borrowings:
Accounts receivable sales facility$1,600 $— $300 
DGD Revolver759 276 — 
DGD Loan Agreement50 25 — 
IEnova Revolver105 81 250 
Repayments:
Accounts receivable sales facility(1,600)— (400)
DGD Revolver(759)(176)— 
DGD Loan Agreement(50)— — 
IEnova Revolver(67)— — 
Debt purchased and retired In November and December 2022, we used cash on hand to purchase and retire the following notes (in millions):
Debt Purchased and RetiredPrincipal
Amount
2.150% Senior Notes due 2027
$22 
4.500% VLP Senior Notes due 2028
26 
2.800% Senior Notes due 2031
28 
6.625% Senior Notes due 2037
58 
4.90% Senior Notes due 2045
24 
3.650% Senior Notes due 2051
95 
4.000% Senior Notes due 2052
97 
7.45% Senior Notes due 2097
30 
Various other Valero Senior Notes62 
Total$442 
In September 2022, we used cash on hand to purchase and retire the following notes in connection with cash tender offers that we publicly announced in August 2022 and completed in September 2022 (in millions):
Debt Purchased and RetiredPrincipal
Amount
3.65% Senior Notes due 2025
$48 
2.850% Senior Notes due 2025
291 
4.375% VLP Senior Notes due 2026
62 
3.400% Senior Notes due 2026
166 
4.350% Senior Notes due 2028
131 
4.000% Senior Notes due 2029
552 
Total$1,250 
The proceeds and cash on hand were used to purchase and retire the following notes in connection with cash tender offers that we publicly announced and completed in February 2022 (in millions):
Debt Purchased and RetiredPrincipal
Amount
3.65% Senior Notes due 2025
$72 
2.850% Senior Notes due 2025
507 
4.375% VLP Senior Notes due 2026
168 
3.400% Senior Notes due 2026
653 
Total$1,400 
These proceeds and cash on hand were used to purchase and retire or redeem the
following notes in connection with cash tender offers that we publicly announced in November 2021 and completed in December 2021 (in millions):
Debt Purchased and
Retired or Redeemed		Principal
Amount
2.700% Senior Notes due 2023
$850 
1.200% Senior Notes due 2024
756 
3.65% Senior Notes due 2025
276 
4.375% VLP Senior Notes due 2026
124 
10.500% Senior Notes due 2039
137 
Total$2,143 
Interest and debt expense, net of capitalized interest
“Interest and debt expense, net of capitalized interest” is comprised as follows (in millions):
Year Ended December 31,
202220212020
Interest and debt expense$619 $651 $638 
Less: Capitalized interest57 48 75 
Interest and debt expense, net of
capitalized interest
$562 $603 $563 
Principal maturities for debt obligations
Principal maturities for our debt obligations as of December 31, 2022 were as follows (in millions):
2023 (a)$861 
2024167 
2025441 
2026672 
2027578 
Thereafter6,606 
Net unamortized debt issuance costs and other(84)
Total debt$9,241 
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(a)Maturities for 2023 include the DGD Revolver, the DGD Loan Agreement, and the IEnova Revolver.