Valero Energy Corp (VLO) operating KPIs

VLONYSEPetroleum RefiningFiscal year ends December 31

Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Oct 28, 2026Score 16/3015% above fair value

$399.66+15.09 (+3.92%)

Close on Oct 30, 2026Market cap $115.07BP/E 16.6Yield 1.13%

KPIs

Operating metrics that drive Valero Energy's business · fiscal year ends December 31

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Metric	Q3 2026 2026-09-30	Q2 2026 2026-06-30	Q1 2026 2026-03-31	Q4 2025 2025-12-31	Q3 2025 2025-09-30	Q2 2025 2025-06-30	Q1 2025 2025-03-31	Q4 2024 2024-12-31	Q3 2024 2024-09-30	Q2 2024 2024-06-30	Q1 2024 2024-03-31	Q4 2023 2023-12-31

Total refining throughput volumes (mbpd)2	2,972.00	2,950.00	2,914.00	3,113.00	3,087.00	2,922.00	2,828.00	2,995.00	2,884.00	3,010.00	2,760.00	2,995.00
Total crude & feedstock throughput (excl. blendstocks) (mbpd)5	2,606.00	2,607.00	2,574.00	2,709.00	2,741.00	2,575.00	2,496.00	2,585.00	2,518.00	2,625.00	2,369.00	2,551.00
Sweet crude oil throughput (mbpd)	1,594.00	1,599.00	1,522.00	1,620.00	1,661.00	1,509.00	1,560.00	1,508.00	1,461.00	1,530.00	1,507.00	1,517.00
Heavy sour crude oil throughput (mbpd)	512.00	514.00	449.00	520.00	506.00	554.00	555.00	608.00	538.00	520.00	347.00	485.00
Medium/light sour crude oil throughput (mbpd)	274.00	252.00	296.00	282.00	281.00	240.00	234.00	239.00	221.00	265.00	240.00	272.00
Residuals feedstock throughput (mbpd)	109.00	124.00	179.00	169.00	204.00	167.00	95.00	126.00	182.00	201.00	151.00	171.00
Other feedstocks throughput (mbpd)	117.00	118.00	128.00	118.00	89.00	105.00	52.00	104.00	116.00	109.00	124.00	106.00
Blendstocks and other throughput (mbpd)	366.00	343.00	340.00	404.00	346.00	347.00	332.00	410.00	366.00	385.00	391.00	444.00
Total refining product yields (mbpd)3	2,994.00	2,981.00	2,944.00	3,137.00	3,117.00	2,947.00	2,849.00	3,028.00	2,918.00	3,041.00	2,779.00	3,021.00
Gasolines and blendstocks yield (mbpd)	1,402.00	1,414.00	1,398.00	1,544.00	1,517.00	1,444.00	1,375.00	1,494.00	1,400.00	1,490.00	1,348.00	1,489.00
Distillates (diesel, jet fuel, heating oil) yield (mbpd)	1,162.00	1,167.00	1,109.00	1,170.00	1,201.00	1,111.00	1,078.00	1,141.00	1,134.00	1,144.00	991.00	1,128.00
Other products yield (petrochemicals, gas oils, coke, asphalt) (mbpd)	430.00	400.00	437.00	423.00	399.00	392.00	396.00	393.00	384.00	407.00	440.00	404.00
Refining margin per barrel of throughput ($/bbl)($)8	39.24	23.62	14.90	13.61	13.14	12.35	9.78	8.44	9.09	11.14	14.07	12.89
Operating expenses (excl. D&A) per barrel of throughput ($/bbl)($)	5.03	4.70	5.13	5.03	4.71	4.91	5.07	4.67	4.73	4.45	4.71	4.99
Depreciation and amortization per barrel of throughput ($/bbl)($)	2.12	2.36	2.79	2.53	2.57	2.66	2.33	2.17	2.22	2.20	2.39	2.18
Adjusted refining operating income per barrel of throughput ($/bbl)($)	32.09	16.56	6.98	6.05	5.86	4.78	2.38	1.60	2.14	4.49	6.97	5.72
Refining margin — Total ($M, Non-GAAP)($M)	10,730	6,342	3,908	3,898	3,731	3,284	2,490	2,326	2,413	3,052	3,534	3,553
Refining operating expenses (excl. D&A) — Total ($M)($M)	1,376	1,263	1,346	1,440	1,388	1,307	1,291	1,287	1,256	1,219	1,184	1,376
Refining depreciation and amortization — Total ($M)($M)	580	635	732	725	728	707	594	598	589	604	600	600
Refining operating income (loss) — GAAP ($M)($M)	8,782	4,470	1,806	1,694	1,610	1,266	-530	437	565	1,224	1,745	1,577
Adjusted refining operating income (loss) — Non-GAAP ($M)($M)	8,774	4,444	1,830	1,733	1,665	1,270	605	441	568	1,229	1,750	1,577

U.S. Gulf Coast Region — Throughput volumes (mbpd)9	1,874.00	1,829.00	1,754.00	1,863.00	1,846.00	1,841.00	1,671.00	1,829.00	1,799.00	1,827.00	1,594.00	1,816.00
U.S. Gulf Coast Region — Refining margin per barrel ($/bbl)($)	37.55	24.42	16.06	13.54	12.21	11.78	9.56	8.39	9.03	10.36	14.11	11.69
U.S. Gulf Coast Region — Operating expenses (excl. D&A) per barrel ($/bbl)($)	4.86	4.67	4.90	4.70	4.36	4.40	4.79	4.27	4.25	3.95	4.58	4.29
U.S. Gulf Coast Region — Depreciation and amortization per barrel ($/bbl)($)	2.31	2.37	2.46	2.25	2.30	2.31	2.50	2.23	2.24	2.27	2.57	2.26
U.S. Gulf Coast Region — Adjusted operating income per barrel ($/bbl)($)	30.38	17.38	8.70	6.59	5.55	5.07	2.27	1.89	2.54	4.14	6.96	5.14
U.S. Gulf Coast Region — Refining margin ($M)($M)	6,472	4,065	2,535	2,322	2,073	1,973	1,437	1,412	1,496	1,722	2,047	1,951
U.S. Gulf Coast Region — Operating expenses (excl. D&A) ($M)($M)	838	778	773	806	740	737	720	719	705	656	664	716
U.S. Gulf Coast Region — Depreciation and amortization ($M)($M)	397	394	388	386	391	387	376	375	370	377	373	377
U.S. Gulf Coast Region — Operating income (loss) GAAP ($M)($M)	5,246	2,877	1,356	1,130	940	846	337	314	419	686	1,007	858
U.S. Gulf Coast Region — Adjusted operating income (loss) ($M)($M)	5,237	2,893	1,374	1,130	942	849	341	318	421	689	1,010	858
U.S. Mid-Continent Region — Throughput volumes (mbpd)9	472.00	485.00	454.00	462.00	466.00	423.00	453.00	473.00	419.00	438.00	452.00	462.00
U.S. Mid-Continent Region — Refining margin per barrel ($/bbl)($)	39.27	20.46	11.82	10.41	11.31	10.52	7.87	6.97	7.92	9.73	13.20	9.42
U.S. Mid-Continent Region — Operating expenses (excl. D&A) per barrel ($/bbl)($)	5.19	4.63	4.96	4.97	4.90	5.20	4.77	4.47	4.84	4.71	4.50	4.62
U.S. Mid-Continent Region — Depreciation and amortization per barrel ($/bbl)($)	1.99	2.01	2.17	2.04	1.96	2.01	1.87	1.81	2.07	2.22	2.10	1.99
U.S. Mid-Continent Region — Adjusted operating income per barrel ($/bbl)($)	32.09	13.82	4.69	3.40	4.45	3.31	1.23	0.69	1.01	2.80	6.60	2.81
U.S. Mid-Continent Region — Refining margin ($M)($M)	1,706	903	483	443	485	405	321	303	305	387	543	401
U.S. Mid-Continent Region — Operating expenses (excl. D&A) ($M)($M)	225	204	203	211	210	200	195	194	186	188	185	197
U.S. Mid-Continent Region — Depreciation and amortization ($M)($M)	86	89	89	87	84	78	76	79	79	88	87	84
U.S. Mid-Continent Region — Operating income (loss) GAAP ($M)($M)	1,394	608	190	143	188	127	50	30	39	111	269	120
U.S. Mid-Continent Region — Adjusted operating income (loss) ($M)($M)	1,395	610	191	145	191	127	50	30	40	111	271	120
North Atlantic Region — Throughput volumes (mbpd)8	507.00	506.00	505.00	523.00	516.00	396.00	492.00	434.00	422.00	469.00	449.00	452.00
North Atlantic Region — Refining margin per barrel ($/bbl)($)	45.58	22.02	14.91	18.92	17.10	13.20	10.32	11.85	11.55	13.32	15.67	20.36
North Atlantic Region — Operating expenses (excl. D&A) per barrel ($/bbl)($)	4.58	4.17	4.63	4.38	4.20	5.04	3.89	4.24	4.49	4.12	4.37	4.90
North Atlantic Region — Depreciation and amortization per barrel ($/bbl)($)	1.64	1.73	1.86	1.63	1.70	2.07	1.56	1.78	1.74	1.56	1.55	1.51
North Atlantic Region — Adjusted operating income per barrel ($/bbl)($)	39.36	16.12	8.42	12.91	11.20	6.09	4.87	5.83	5.32	7.64	9.75	13.95
North Atlantic Region — Refining margin ($M)($M)	2,127	1,014	678	909	811	476	457	472	448	569	640	846
North Atlantic Region — Operating expenses (excl. D&A) ($M)($M)	213	192	211	210	199	182	172	169	174	176	179	204
North Atlantic Region — Depreciation and amortization ($M)($M)	77	80	84	79	80	75	69	70	68	67	63	63
North Atlantic Region — Operating income (loss) GAAP ($M)($M)	1,837	742	383	620	532	219	216	233	206	325	398	579
U.S. West Coast Region — Throughput volumes (mbpd)9	119.00	130.00	201.00	265.00	259.00	262.00	212.00	259.00	244.00	276.00	265.00	265.00
U.S. West Coast Region — Refining margin per barrel ($/bbl)($)	38.81	30.36	11.74	9.19	15.22	18.02	14.43	5.80	7.31	14.86	12.62	14.51
U.S. West Coast Region — Operating expenses (excl. D&A) per barrel ($/bbl)($)	9.10	7.49	8.81	8.72	7.94	7.91	10.72	8.60	8.49	7.92	6.47	10.60
U.S. West Coast Region — Depreciation and amortization per barrel ($/bbl)($)	1.85	6.06	9.46	7.09	7.29	6.99	3.82	3.09	3.20	2.86	3.19	3.10
U.S. West Coast Region — Adjusted operating income per barrel ($/bbl)($)	27.86	16.81	-6.53	-6.62	-0.01	3.12	-0.11	-5.89	-4.38	4.08	2.96	0.81
U.S. West Coast Region — Refining margin ($M)($M)	425	360	212	224	362	430	275	139	164	374	304	355
U.S. West Coast Region — Operating expenses (excl. D&A) ($M)($M)	100	89	159	213	239	188	204	205	191	199	156	259
U.S. West Coast Region — Depreciation and amortization ($M)($M)	20	72	171	173	173	167	73	74	72	72	77	76
U.S. West Coast Region — Operating income (loss) GAAP ($M)($M)	305	243	-123	-199	-50	74	-1,133	-140	-99	102	71	20
U.S. West Coast Region — Adjusted operating income (loss) ($M)($M)	305	199	-118	-162		75	-2	-140	-99	103	71	20

Renewable Diesel segment (DGD) — Sales volumes (thousand gal/day, VLO)1	3,423	3,833	3,027	3,101	2,717	2,732	2,435	3,356	3,544	3,492	3,729	3,773
DGD total renewable fuels sold/shipped (million gal, via JV Partner Darling)(M)	315	349	272	285	250	249	219	294	317	312	332	337
Renewable Diesel margin per gallon of sales ($/gal, VLO)($)8	1.62	2.52	1.11	0.82	0.50	0.22	0.02	1.06	0.60	0.80	1.02	0.65
Operating expenses (excl. D&A) per gallon of sales ($/gal)($)	0.28	0.26	0.31	0.28	0.31	0.29	0.36	0.28	0.28	0.25	0.27	0.24
Depreciation and amortization per gallon of sales ($/gal)($)	0.22	0.20	0.29	0.22	0.30	0.25	0.30	0.23	0.21	0.20	0.19	0.17
Renewable Diesel operating income (loss) per gallon of sales ($/gal)($)	1.12	2.06	0.51	0.32	-0.11	-0.32	-0.64	0.55	0.11	0.35	0.56	0.24
DGD standalone Adjusted EBITDA per gallon ($/gal, via JV Partner Darling)($)	1.30	2.23	1.11	0.41	-0.02	0.36	0.06	0.40	0.25	0.49	0.69	0.23
Renewable Diesel margin — Total ($M, Non-GAAP)($M)	510	879	302	234	126	54	5	327	196	254	345	227
Renewable Diesel operating expenses (excl. D&A) ($M)($M)	86	91	85	80	78	72	78	88	92	80	90	84
Renewable Diesel depreciation and amortization ($M)($M)	71	71	78	62	76	61	68	69	69	62	65	59
Renewable Diesel operating income (loss) — GAAP ($M)($M)	353	717	139	92	-28	-79	-141	170	35	112	190	84
DGD 100% standalone Adjusted Operating Cash Flow (excl. working capital) ($M, VLO Notes)($M)14	411	778	203	539	-173	-173	-133	236	95	166	244	130
DGD 100% standalone GAAP Operating Cash Flow ($M, VLO Notes)($M)	312	711	-472	254	-263	-262	161	352	92	451	-6	50
DGD 100% standalone working capital changes ($M, VLO Notes)($M)	-99	-67	-675	-285	-90	-89	294	116	-3	285	-250	-80
DGD Adjusted Operating Cash Flow attributable to 50% JV partner (Darling) ($M)($M)	205	389	102	269	-86	-86	-67	119	47	83	122	65
DGD 100% standalone Adjusted EBITDA before discount/broker fees ($M, via Darling)($M)	418	785	310	128	5.40	89.6	13.8	118	78.2	153	230
DGD 100% standalone Adjusted EBITDA net of discount/broker fees ($M, via Darling)($M)	408	778	302	116	-5.80	85.3	12.1	118	78.2	153	230
Darling's 50% share of DGD Adjusted EBITDA ($M, via Darling)($M)	204	389	151	57.9	-2.90	42.6	6	59.2	39.1	76.6	115
DGD 100% standalone operating revenues ($M, via Darling XBRL & 8-K)($M)	2,393	414	249	1,395	1,204	292	218	1,246	1,225	1,184	247	1,634
DGD 100% standalone net income (loss) ($M, via Darling XBRL & 8-K)($M)	341	707	222	55.1	-80.6	16.3	-59.3	48.1	4.90	88.4	157	9.40
Darling's 50% equity in DGD net income (loss) ($M, via Darling XBRL)($M)		350	107	21.6	-45.8	6	-30.5	24.1	2.40	44.2	78.4	4.70
Darling feedstock sales to DGD (related-party revenues, $M, via Darling XBRL)($M)		41.3	63.4	-38	-9.50	27.6	71.5	-13.2	8	-6.40	62.1	5.60
Cash distributions received by Darling from DGD (50% share, $M, via Darling XBRL)($M)		280	0	238	0	0	130	68.6	111	0	0	0
DGD 100% standalone total assets ($M, via Darling XBRL)($M)		6,286	5,650	5,237	5,545	5,384	5,154	5,461	5,660	5,861	5,787	5,806
DGD 100% standalone members' equity ($M, via Darling XBRL)($M)		4,946	4,561	4,180	4,498	4,279	4,071	4,387	4,514	4,688	4,608	4,355
Darling's 50% equity investment carrying value in DGD ($M, via Darling XBRL)($M)		2,495	2,354	2,100	2,242	2,083	2,038	2,200	2,260	2,347	2,308	2,200

Ethanol segment — Production volumes (thousand gal/day)8	4,799	4,666	4,619	4,756	4,635	4,583	4,466	4,627	4,584	4,474	4,466	4,510
Ethanol margin per gallon of production ($/gal)($)	1.03	1.15	0.66	0.69	0.83	0.52	0.48	0.42	0.72	0.61	0.48	0.86
Operating expenses (excl. D&A) per gallon of production ($/gal)($)	0.37	0.36	0.39	0.38	0.35	0.34	0.38	0.33	0.31	0.31	0.34	0.32
Depreciation and amortization per gallon of production ($/gal)($)	0.04	0.04	0.05	0.04	0.05	0.05	0.05	0.04	0.05	0.05	0.05	0.05
Ethanol operating income (loss) per gallon of production ($/gal)($)	0.62	0.75	0.22	0.27	0.43	0.13	0.05	0.05	0.36	0.25	0.09	0.49
Ethanol margin — Total ($M, Non-GAAP)($M)	455	489	273	302	352	217	193	181	305	247	195	358
Ethanol operating expenses (excl. D&A) — Total ($M)($M)	165	152	164	165	148	144	154	141	133	125	137	132
Ethanol depreciation and amortization — Total ($M)($M)	18	19	19	20	21	19	19	20	19	19	19	21
Ethanol operating income (loss) — GAAP ($M)($M)	272	318	90	117	183	54	20	20	153	105	10	190

Dated Brent crude oil benchmark price ($/bbl, IR Monthly/Quarterly/Annual)($)4	96.99	104	81.13	63.73	69.13	67.88	75.73	74.73	80.34	84.97	83.16	84.34
ICE Brent (M1) crude oil price ($/bbl)($)	91.29	96.68	78.38	63.08	68.17	66.71	74.98	74.01	78.71	85.03	81.76	82.85
NYMEX WTI crude oil price ($/bbl)($)	85.68	92.70	72.67	59.14	64.97	63.68	71.42	70.32	75.27	80.66	76.91	78.53
ICE Brent less Dated Brent spread ($/bbl, 8-K)($)	-5.75	-8.05	-2.68	-0.55	-0.91	-1.08	-0.75	-0.71	-1.63	0.09	-1.38	-1.43
U.S. natural gas reference price ($/MMBtu, 8-K)($)	2.47	2.46	3.11	3.23	2.70	2.83	3.38	2.14	1.83	1.74	1.79	2.27
Valero U.S. Gulf Coast (USGC) Refining Margin Indicator ($/bbl, IR)($)8	47.11	30.45	18.36	15.66	15.26	12.76	11.54	9.70	11.87	14.01	18.64	14.16
USGC: ICE Brent less LLS crude differential ($/bbl)($)	2.41	1.09	2.52	2.12	0.91	0.56	0.63	1.44	1.43	1.34	2.05	1.68
USGC: ICE Brent less Argus WTI Houston crude differential ($/bbl)($)	4.09	1.39	3.72	3.02	2.08	2.06	2.17	2.29	2.19	2.70	2.90	2.96
USGC: ICE Brent less Maya heavy sour crude differential ($/bbl)($)	13.14	7.80	10.92	8.74	7.14	8.29	9.88	10.75	11.43	11.44	12.27	10.71
USGC: ICE Brent less WCS Houston heavy sour differential ($/bbl)($)	16.22	13.62	13.03	8.36	6.92	6.43	7.34	8.32	10.62	11.09	11.55	11.92
USGC: ICE Brent less ASCI sour crude differential ($/bbl)($)	5.86	2.80	4.16	4.88	3.45	2.20	2.66	4.14	4.55	3.89	4.94	4.73
USGC: Colonial Pipeline A2 CBOB gasoline less ICE Brent crack ($/bbl)($)	38.68	31.98	10.43	10.18	14.15	14.99	8.25	5.98	10	11.50	11.76	2.43
USGC: Colonial Pipeline 62 ULSD diesel less ICE Brent crack ($/bbl)($)	86.65	57.58	38.22	29.68	27.45	20.74	21.28	16.42	15.55	17.55	28.32	29.53
USGC: Polymer grade propylene less ICE Brent spread ($/bbl, 8-K)($)	-17.02	-10.61	-12.03	-16.58	-8.22	-2.24	1.24	-3.05	12.82	-45.72	-47.26	-50.92
Valero U.S. Mid-Continent (USMC) Refining Margin Indicator ($/bbl, IR)($)5	46.60	28.35	13.40	14.30	16.17	14.63	11.49	8.99	12.57	13.73	15.64	14.18
USMC: ICE Brent less NYMEX WTI crude differential ($/bbl)($)	5.61	3.98	5.70	3.94	3.20	3.03	3.56	3.69	3.43	4.37	4.85	4.32
USMC: Group 3 sub-octane CBOB gasoline less ICE Brent crack ($/bbl)($)	43.36	30.25	3.15	8.20	16.05	18.21	10.46	6.12	14.57	12.51	7.91	4.62
USMC: Group 3 ULSD #2 diesel less ICE Brent crack ($/bbl)($)	82.42	51.61	28.59	29.45	29.44	23.85	17.72	15.14	17.20	16.45	21.79	34.06
USMC: Group 3 CBOB gasoline less WTI crack ($/bbl, 8-K)($)	34.16	20.14	-0.69	5.82	12.79	14.91	9.26	5.46	14.08	13.28	9.11	4.05
USMC: Group 3 ULS diesel less WTI crack ($/bbl, 8-K)($)	73.54	41.48	24.46	27.55	26.16	20.60	16.50	14.63	16.74	17.17	22.92	33.10
Valero North Atlantic Refining Margin Indicator ($/bbl, IR)($)3	47	29.16	17.41	17.58	17.58	13.76	10.84	10.07	11.27	15.94	16.28	16.01
North Atlantic: NYH CBOB gasoline less Dated Brent crack ($/bbl)($)	42.37	31.86	10.31	16.09	19.95	18.25	8.81	10.39	14.28	19.83	11.12	8.85
North Atlantic: NYH ULSD #2 diesel less Dated Brent crack ($/bbl)($)	85.79	54.38	44.31	34.03	30.10	23.57	24.72	18.38	15.71	19.78	30.54	36.77
North Atlantic: CIF NWE ULSD 10ppm diesel less Dated Brent crack ($/bbl)($)	80.51	51.74	38.44	30.04	26.93	19.31	20.06	17.44	17	21.10	30.30	31.11
Valero U.S. West Coast (USWC) Refining Margin Indicator ($/bbl, IR)($)5	52.16	40.52	24.65	20.42	23.66	25.28	17.98	11.62	15.46	22.41	19.72	19.66
USWC: ICE Brent less ANS (Alaska North Slope) crude differential ($/bbl)($)	3.24	-6.85	0.33	-0.95	-1.94	-2.16	-0.89	-0.33	-0.29	-1.47	0.33	-1.31
USWC: Los Angeles CARBOB gasoline less ICE Brent crack ($/bbl)($)	62.09	55.66	31.17	27.16	30.91	32.95	23.96	16.44	20.33	31.43	26.24	21.13
USWC: San Francisco CARBOB gasoline less ICE Brent crack ($/bbl)($)	65.39	60.64	34.38	25.06	33.02	43.14	27.55	15.21	27.05	36.01	23.49	19.89
USWC: Los Angeles CARB ULSD diesel less ICE Brent crack ($/bbl)($)	96.16	70.14	43.80	36.10	36.25	26.16	24.96	20.63	17.85	21.54	30.27	41.89
USWC: San Francisco EPA/CARB ULSD diesel less ICE Brent crack ($/bbl)($)	94.35	78.92	46.73	36.21	38.93	39.12	27.30	20.52	21.45	26.02	29.62	36.11
Valero Renewable Diesel (DGD) Margin Indicator ($/gal, IR)($)12	2.72	1.19	1.02	0.74	0.33	0.51	0.87	0.95	0.73	1.01	1.48	1.35
NYMEX ULS diesel price ($/gal)($)	4.32	3.74	2.95	2.32	2.35	2.16	2.38	2.23	2.32	2.51	2.71	2.85
California Low-Carbon Fuel Standard (LCFS) credit price ($/MT)($)	80.73	68.66	65.37	53.62	53.35	52.45	66.22	72.08	53.77	52.17	63.84	68.98
D4 Biomass-Based Diesel RIN price (cents/RIN, IR)($)	223	212	144	103	113	108	78.81	66.44	60.24	50.88	58.16	84.31
D4 Biomass-Based Diesel RIN price ($/RIN, 8-K)($)	2.23	2.12	1.44	1.03	1.13	1.09	0.79	0.66	0.60	0.51	0.58	0.84
D6 Renewable Fuel (Ethanol) RIN price (cents/RIN, IR)($)	217	208	137	102	107	101	74.65	66.44	60.24	50.81	57.23	84.31
Renewable Volume Obligation (RVO) compliance cost (cents/gal, IR)($)	34.19	32.82	20.87	14.54	15.19	14.63	11.30	9.64	9.26	8.05	8.79	11.38
Renewable Volume Obligation (RVO) compliance cost ($/bbl, 8-K)($)	14.34	13.78	9.41	6.11	6.38	6.14	4.76	4.04	3.89	3.39	3.68	4.77
CBOT Soybean Oil (M1) feedstock price (cents/lb, IR)($)	69.77	72.91	58.72	50.14	52.98	48.97	44.03	43	43.19	44.72	46.74	52.10
USGC Used Cooking Oil (UCO) feedstock price (cents/lb, IR)($)	75.55	82.27	63.37	56.45	62.14	56.42	50.38	45.44	45.96	42.22	39.98	46.72
USGC Fancy Bleachable Tallow feedstock price (cents/lb, IR)($)	75.24	83.76	59.86	52.69	61.62	56.38	49.76	45.14	46.91	43.15	41.13	51.74
USGC Distillers Corn Oil (DCO) feedstock price (cents/lb, IR)($)	76.87	85.79	65.21	56.97	63.66	58.80	51.87	47.76	47.91	46.24	48.16	57.62
Valero Ethanol Margin Indicator ($/gal, IR)($)3	0.65	0.67	0.50	0.55	0.75	0.48	0.40	0.42	0.73	0.56	0.33	0.71
CBOT Corn (M1) feedstock price ($/bushel)($)	4.78	4.44	4.38	4.31	4.01	4.51	4.72	4.26	3.92	4.43	4.35	4.76
New York Harbor Ethanol price (cents/gal, IR)($)	208	200	181	184	195	183	182	170	191	189	163	213
New York Harbor Ethanol price ($/gal, 8-K)($)	2.10	2	1.81	1.84	1.96	1.84	1.82	1.70	1.92	1.90	1.64	2.12

Total consolidated capital investments (CapEx + Deferred Turnaround & Catalyst) ($M)($M)7	432	350	448	412	409	407	660	547	429	420	661	540
Capital expenditures (excluding consolidated VIEs) ($M)($M)	272	222	160	215	171	144	189	250	152	119	128	197
Capital expenditures of DGD (100% consolidated VIE) ($M)($M)	-3	3	4	4	4	4	59	52	56	73	69	52
Capital expenditures of other consolidated VIEs ($M)($M)	1	1	1	1	2	2	1	1	2	2	3	7
Deferred turnaround and catalyst expenditures (excluding VIEs) ($M)($M)	155	120	254	182	187	247	374	235	208	184	452	281
Deferred turnaround and catalyst expenditures of DGD ($M)($M)	7	4	29	8	45	10	36	9	11	42	9	3
Adjustment: DGD capital investments attributable to 50% JV partner ($M)($M)	-2	-3	-17	-6	-25	-6	-48	-31	-33	-58	-39	-27
Capital investments attributable to Valero ($M, Non-GAAP)($M)	429	346	430	405	382	399	611	515	394	360	619	506

U.S. industrial production index: Petroleum refineries (NAICS 32411, SA, 2017=100, Fed) (Federal Reserve via FRED, FRED IPG32411S)(×)	86.70	86.50	87.30	85.60	86.10	85.30	84.30	86.30	85.50	85.70	85.30	85.70
U.S. PPI by industry: Petroleum refineries (Jun 1985=100, BLS) (U.S. BLS via FRED, FRED PCU324110324110)(×)	492.40	470.20	315.80	285.30	303.50	295.90	302.30	294.30	322.20	342.60	338.30	343.60
U.S. PPI: Refined petroleum products (1982=100, BLS) (U.S. BLS via FRED, FRED WPU057)(×)	403.10	385.10	255.30	232.50	249.20	241.20	247.30	243.30	267.10	283.70	279.00	282.00
U.S. PPI by industry: Petrochemical manufacturing (Dec 2003=100, BLS) (U.S. BLS via FRED, FRED PCU325110325110)(×)	184.00	208.00	140.30	136.30	147.40	146.90	160.40	154.10	165.20	152.60	143.80	148.50
WTI crude oil spot price, Cushing OK ($/bbl, U.S. EIA) (U.S. EIA via FRED, FRED MCOILWTICO)($)	87.22	95.75	71.98	59.64	65.74	64.63	71.84	70.69	76.24	81.71	77.56	78.41
Brent crude oil spot price, Europe ($/bbl, U.S. EIA) (U.S. EIA via FRED, FRED MCOILBRENTEU)($)	96.33	103	80.21	63.63	68.97	68.01	75.81	74.61	79.84	84.65	83	83.72
U.S. regular all formulations retail gasoline price ($/gal, U.S. EIA) (U.S. EIA via FRED, FRED GASREGM)($)	4.12	4.21	3.12	3	3.14	3.16	3.10	3.07	3.36	3.56	3.24	3.35
U.S. No. 2 diesel retail price ($/gal, U.S. EIA) (U.S. EIA via FRED, FRED GASDESM)($)	5.57	5.38	4.06	3.71	3.76	3.56	3.63	3.53	3.69	3.85	3.97	4.24
Henry Hub natural gas spot price ($/MMBtu, U.S. EIA) (U.S. EIA via FRED, FRED MHHNGSP)($)	2.87	2.95	4.79	3.75	3.03	3.19	4.15	2.44	2.11	2.09	2.13	2.74
European natural gas benchmark price, TTF ($/MMBtu, IMF) (IMF via FRED, FRED PNGASEUUSDM)($)	21.45	15.55	13.62	10.24	11.15	11.83	14.43	13.44	11.39	10.02	8.71	12.80
Asia LNG benchmark price, Japan/Korea ($/MMBtu, IMF) (IMF via FRED, FRED PNGASJPUSDM)($)	22.75	17.29	14	10.61	11.69	12.07	13.99	13.79	12.77	11	9.28	14.59
U.S. capacity utilization: Oil and gas extraction (%, SA, Fed) (Federal Reserve via FRED, FRED CAPUTLG211S)(%)	94.9%	95.3%	94.3%	95.2%	96.5%	95.5%	94.2%	94.9%	95.0%	96.1%	94.6%	96.6%
U.S. industrial production index: Oil and gas extraction (SA, 2017=100, Fed) (Federal Reserve via FRED, FRED IPG211S)(×)	153.50	152.90	150.00	150.30	151.30	148.80	145.70	145.80	144.90	145.30	141.60	143.20
U.S. industrial production index: Drilling oil and gas wells (SA, 2017=100, Fed) (Federal Reserve via FRED, FRED IPN213111S)(×)	106.30	99.10	98.90	101.10	97.90	100.50	103.40	105.10	108.10	108.30	110.80	111.50

Total consolidated operating revenues ($M, DB & 8-K)($M)3	46,098	44,476	32,381	30,372	32,168	29,889	30,258	30,756	32,876	34,490	31,759	35,414
Refining segment — External customer revenues ($M)($M)4	44,369	42,300	30,805	28,663	30,414	28,324	28,757	29,334	31,332	33,044	30,143	33,546
Product revenue: Gasolines and blendstocks ($M, XBRL)($M)		17,417	12,431	12,535	13,287	12,721	12,374	13,010	14,361	15,517	13,126	14,236
Product revenue: Distillates (diesel & jet fuel) ($M, XBRL)($M)		20,688	15,461	14,341	14,582	12,778	13,376	13,350	13,855	14,303	14,128	16,442
Product revenue: Other refining products (petrochemicals, asphalt, coke) ($M, XBRL)($M)		4,195	2,913	1,787	2,545	2,825	3,007	2,974	3,116	3,224	2,889	2,868
Refining segment — Intersegment revenues ($M)($M)	3	2	2	3	1	2	2	2	3	3	2	10
Renewable Diesel segment (DGD) — External customer revenues ($M)($M)4	664	1,176	711	731	719	565	493	522	632	554	702	833
Product revenue: Renewable diesel ($M, XBRL)($M)		1,057	566	589	623	470	391	487	610	540	679	801
Product revenue: Renewable naphtha ($M, XBRL)($M)		39	37	24	29	46	39	35	22	14	23	32
Product revenue: Neat Sustainable Aviation Fuel (SAF) ($M, XBRL)($M)		80	108	118	67	49	63	0	0	0	0
Renewable Diesel segment — Intersegment revenues ($M)($M)	1,729	1,506	703	665	484	533	407	724	593	630	709	801
Ethanol segment — External customer revenues ($M)($M)3	1,065	1,000	865	978	1,035	1,000	1,008	900	912	892	914	1,035
Product revenue: Ethanol ($M, XBRL)($M)		789	676	784	823	780	787	662	685	662	638	778
Product revenue: Distillers grains (DDG & corn oil) ($M, XBRL)($M)		211	189	194	212	220	221	238	227	230	276	257
Ethanol segment — Intersegment revenues ($M)($M)	352	311	302	275	259	205	217	214	235	229	190	296
Consolidated operating income across segments ($M, DB & 8-K)($M)4	9,073	5,196	1,731	1,575	1,509	997	-900	348	507	1,221	1,679	1,553
Refining segment — Operating income (loss) ($M, DB & 8-K)($M)3	8,782	4,470	1,806	1,694	1,610	1,266	-530	437	565	1,224	1,745	1,577
Refining segment — Total revenues ($M, DB & 8-K)($M)	44,372	42,302	30,807	28,666	30,415	28,326	28,759	29,336	31,335	33,047	30,145	33,556
Refining segment — Cost of materials and other ($M, 8-K & XBRL)($M)	31,988	34,268	25,178	23,065	24,858	23,388	24,769	25,493	28,922	29,995	26,611	30,003
Refining segment — Total assets ($M, DB & XBRL)($M)		47,772	47,506	44,498	45,010	46,223	45,755	46,729	46,546	49,871	49,070	49,031
Renewable Diesel segment — Operating income (loss) ($M, DB & 8-K)($M)3	353	717	139	92	-28	-79	-141	170	35	112	190	84
Renewable Diesel segment — Total revenues ($M, DB & 8-K)($M)	2,393	2,682	1,414	1,396	1,203	1,098	900	1,246	1,225	1,184	1,411	1,634
Renewable Diesel segment — Cost of materials and other ($M, 8-K & XBRL)($M)	1,883	1,803	1,112	1,162	1,077	1,044	895	919	1,029	930	1,066	1,407
Renewable Diesel segment — Total assets ($M, DB & XBRL)($M)		6,270	5,634	5,317	5,600	5,402	5,283	5,680	5,761	5,941	5,852	5,790
Ethanol segment — Operating income (loss) ($M, DB & 8-K)($M)3	272	318	90	117	183	54	20	20	153	105	10	190
Ethanol segment — Total revenues ($M, DB & 8-K)($M)	1,417	1,311	1,167	1,253	1,294	1,205	1,225	1,114	1,147	1,121	1,104	1,331
Ethanol segment — Cost of materials and other ($M, 8-K & XBRL)($M)	962	822	894	951	942	988	1,032	933	842	874	909	973
Ethanol segment — Total assets ($M, DB & XBRL)($M)		1,480	1,569	1,501	1,495	1,496	1,621	1,545	1,489	1,514	1,496	1,549
Corporate and Eliminations — Operating loss ($M, DB & 8-K)($M)	-334	-309	-304	-328	-256	-244	-249	-279	-246	-220	-266	-298
Total consolidated debt and finance lease obligations ($M, 8-K)($M)3	11,001	11,349	11,491	10,619	10,581	10,647	10,854	10,463	10,806	10,741	10,897	11,524
Total consolidated debt (excl. finance leases) ($M, 8-K)($M)4	8,579	9,101	9,191	8,261	8,366	8,370	8,528	8,085	8,355	8,353	8,461	9,218
Total debt — Valero (excluding VIEs) ($M, 8-K)($M)	8,576	9,099	9,081	8,238	8,235	8,233	8,482	8,027	8,026	8,024	8,023	8,188
Long-term debt, less current portion — Valero (excluding VIEs) ($M, 8-K)($M)	7,849	8,411	8,409	7,566	7,710	8,233	8,231	7,586	7,585	7,583	7,834	8,021
Current portion of debt — Valero (excluding VIEs) ($M, 8-K)($M)	727	688	672	672	525		251	441	441	441	189	167
Current portion of debt attributable to consolidated VIEs ($M, 8-K)($M)	3	2	110	23	131	137	46	58	329	329	438	1,030
Total consolidated finance lease obligations ($M, 8-K)($M)6	2,422	2,248	2,300	2,358	2,215	2,277	2,326	2,378	2,451	2,388	2,436	2,306
Total finance lease obligations — Valero (excluding VIEs) ($M, 8-K)($M)	1,800	1,620	1,665	1,716	1,566	1,621	1,664	1,709	1,776	1,706	1,748	1,611
Long-term finance lease obligations — Valero (excluding VIEs) ($M, 8-K)($M)	1,567	1,409	1,447	1,488	1,355	1,404	1,446	1,492	1,556	1,507	1,548	1,428
Current finance lease obligations — Valero (excluding VIEs) ($M, 8-K)($M)	233	211	218	228	211	217	218	217	220	199	200	183
Total finance lease obligations attributable to consolidated VIEs ($M, 8-K)($M)	622	628	635	642	649	656	662	669	675	682	688	695
Long-term finance lease obligations attributable to consolidated VIEs ($M, 8-K)($M)	596	602	609	616	622	628	635	642	649	656	662	669
Current finance lease obligations attributable to consolidated VIEs ($M, 8-K)($M)	26	26	26	26	27	28	27	27	26	26	26	26
Consolidated VIEs (DGD & Mexico) — Net property, plant and equipment ($M, XBRL)($M)6		4,213	4,268	4,323	4,376	4,430	4,492	4,517	4,541	4,548	4,536	4,512
DGD consolidated VIE — Net property, plant and equipment ($M, XBRL)($M)		3,544	3,593	3,643	3,690	3,737	3,785	3,806	3,823	3,823	3,805	3,772
Mexico terminals consolidated VIEs — Net property, plant and equipment ($M, XBRL)($M)		609	614	619	624	629	643	647	651	656	660	665
DGD consolidated VIE — Cash and cash equivalents ($M, XBRL)($M)		387	162	196	136	164	153	353	196	400	170	237
DGD consolidated VIE — Other current assets ($M, XBRL)($M)		1,741	1,496	1,106	1,044	987	985	976	1,453	1,369	1,582	1,520
DGD consolidated VIE — Current liabilities ($M, XBRL)($M)		567	341	297	299	354	320	304	369	384	385	616
DGD consolidated VIE — Long-term debt and finance leases ($M, XBRL)($M)		603	609	616	622	628	635	642	649	656	662	669
Total inventories ($M, DB & 8-K)($M)10	7,611	7,625	7,556	7,591	7,394	7,538	7,119	7,761	7,048	8,028	7,912	7,583
Inventories: Refinery feedstocks (crude oil & feedstocks) ($M, XBRL)($M)		1,535	1,629	1,880	1,826	1,875	1,688	2,167	1,317	2,036	2,366	2,223
Inventories: Refined petroleum products and blendstocks ($M, XBRL)($M)		4,168	4,317	4,182	4,035	4,084	3,772	4,016	3,976	4,307	3,847	3,790
Inventories: Renewable diesel feedstocks and products ($M, XBRL)($M)		1,185	867	809	840	874	940	872	1,081	1,024	1,051	913
Inventories: Ethanol feedstocks and products ($M, XBRL)($M)		329	335	314	292	314	349	342	313	307	300	313
Inventories: Materials and supplies ($M, XBRL)($M)		408	408	406	401	391	370	364	361	354	348	344
Excess of replacement cost (market value) over LIFO inventory carrying value ($M, XBRL)($M)		7,500	11,200	2,600	3,400	3,700	3,700	4,000	3,800	5,300	6,000	4,400
Inventories accounted for under weighted-average cost (Non-LIFO) ($M, XBRL)($M)		1,300	1,300	1,200	1,200	1,100	1,200	1,300	1,400	1,500	1,300	1,500
Renewable and low-carbon fuel program compliance obligation cost (RFS RINs & LCFS) ($M, XBRL)($M)		731	653	400	431	408	332	195	156	173	204	100
Excise and sales taxes collected and remitted ($M, XBRL)($M)		1,660	1,725	1,755	1,827	1,662	1,504	1,525	1,539	1,456	1,387	1,426
Contract liabilities (deferred revenue from customer contracts) ($M, XBRL)($M)		102	61	60	62	59	57	82	57	33	34	40
Net income (loss) attributable to Valero stockholders ($M, DB & 8-K)($M)12	6,828	3,720	1,263	1,134	1,095	714	-595	281	364	880	1,245	1,202
Adjusted net income attributable to Valero stockholders ($M, Non-GAAP, 8-K)($M)	6,831	3,697	1,263	1,162	1,134	714	282	207	371	887	1,274	1,208
Consolidated total cost of sales ($M, DB & 8-K)($M)3	36,691	39,007	30,329	28,468	30,396	28,640	29,751	30,127	32,122	33,051	29,776	33,540
Cost of materials and other ($M, 8-K)($M)	32,741	35,130	26,185	24,238	26,132	24,678	26,048	26,409	29,965	30,943	27,682	31,267
Consolidated operating expenses (excl. D&A) ($M, 8-K)($M)	1,627	1,506	1,595	1,685	1,614	1,522	1,523	1,514	1,482	1,424	1,411	1,594
Cost of sales depreciation and amortization ($M, 8-K)($M)	669	723	828	805	824	786	680	687	675	684	683	679
General and administrative expenses (excl. D&A) ($M, DB & 8-K)($M)	308	233	285	315	246	220	261	266	234	203	258	295
Interest and debt expense, net of capitalized interest ($M, DB & 8-K)($M)	-144	145	140	139	139	141	137	135	141	140	140	149
Income (loss) before income tax expense ($M, DB & 8-K)($M)	9,056	5,167	1,723	1,524	1,456	942	-917	323	489	1,203	1,683	1,549
Income tax expense (benefit) ($M, DB & 8-K)($M)	2,067	1,094	401	355	390	279	-265	-34	96	277	353	331
Consolidated net income (loss) including noncontrolling interests ($M, DB & 8-K)($M)	6,989	4,073	1,322	1,169	1,066	663	-652	357	393	926	1,330	1,218
Net income (loss) attributable to noncontrolling interests (50% DGD & VIEs) ($M, DB & 8-K)($M)	161	353	59	35	-29	-51	-57	76	29	46	85	16
Diluted earnings (loss) per common share ($/sh, DB & 8-K)($)	23.89	12.62	4.22	3.73	3.53	2.28	-1.90	0.88	1.14	2.71	3.75	3.55
Adjusted diluted earnings (loss) per common share ($/sh, Non-GAAP, 8-K)($)	23.90	12.54	4.22	3.82	3.66	2.28	0.89	0.64	1.16	2.73	3.84	3.57
Weighted-average diluted common shares outstanding (millions, DB & 8-K)(M)	285	294	298	303	309	312	314	316	318	324	331	338
Dividends paid per common share ($/sh, DB & 8-K)($)	1.20	1.20	1.20	1.13	1.13	1.13	1.13	1.07	1.07	1.07	1.07	1.02
Total consolidated assets ($M, DB)($M)10		64,663	62,142	57,988	58,615	59,433	59,177	60,143	60,382	63,615	62,574	63,056
Cash and cash equivalents ($M, DB & 8-K)($M)	9,840	7,874	5,733	4,688	4,764	4,712	4,807	4,829	5,354	5,414	4,917	5,424
Receivables, net ($M, DB)($M)		13,928	13,410	9,877	10,333	11,073	11,238	9,731	11,073	13,145	12,150	11,038
Total current assets ($M, DB & 8-K)($M)	33,561	30,670	27,825	23,210	23,504	23,804	23,590	23,737	23,976	27,115	25,674	26,221
Property, plant and equipment, net ($M, DB)($M)		26,845	27,113	27,617	1,249	1,408	28,549	29,314	29,681	29,769	30,072	30,209
Accounts payable ($M, DB)($M)		14,423	13,403	10,139	10,694	11,499	11,982	12,092	11,516	14,565	12,458	12,567
Total current liabilities ($M, DB & 8-K)($M)	19,469	18,742	17,652	14,109	14,729	14,677	15,143	15,495	15,298	18,318	16,149	16,802
Retained earnings ($M, DB)($M)		52,228	48,863	47,959	47,169	46,425	46,065	47,016	47,074	47,052	46,519	45,630
Valero Energy Corporation stockholders' equity ($M, DB & 8-K)($M)	27,974	25,001	23,870	23,725	23,754	24,078	23,490	24,512	25,253	25,443	26,057	26,346
Noncontrolling interests ($M, DB)($M)		3,267	3,064	2,880	2,992	2,869	2,825	3,009	2,747	2,807	2,767	2,178
Total consolidated equity ($M, DB & 8-K)($M)	31,084	28,268	26,934	26,605	26,746	26,947	26,315	27,521	28,000	28,250	28,824	28,524
Consolidated net cash provided by operating activities ($M, DB & 8-K)($M)6	6,932	5,580	1,390	2,057	1,881	936	952	1,070	1,295	2,472	1,846	1,239
Valero Adjusted net cash provided by operating activities (excl. working capital & 50% DGD partner share) ($M, 8-K)($M)	7,253	4,485	1,591	2,137	1,642	1,347	862	951	1,082	1,600	1,884	1,805
Operating cash flow — Changes in current assets and current liabilities (working capital) ($M, 8-K)($M)	-526	706	-303	-349	325	-325	157		166	789	-160	-631
Consolidated depreciation and amortization ($M, DB)($M)		14	840	817	12	28	691	698	10	12	695	690
Common stock dividends paid ($M, DB)($M)		355	359	344	351	354	356	339	342	347	356	346
Purchases of common stock for treasury (buybacks) ($M, DB)($M)		2,263	573	1,064	922	338	274	259	560	1,033	1,023	956
Cash distributions to noncontrolling interests (50% DGD partner) ($M, XBRL)($M)		222	0	238	0	2	129	69	111	2	0	0

7 metrics have no data in the last 12 quarters — .

Italic numbers are calculated by StockData from reported figures (hover for the formula). Numbers with a dotted underline are read from the text of earnings releases and presentations; hover to see the exact sentence. Tick a row to add it to the chart above (up to 8 lines).

Methodology and excluded metrics

Core Key: Refining System Feedstock Throughput (`mbpd` by crude/feedstock type: Sweet crude, Heavy sour, Medium/light sour, Residuals, Other feedstocks, Blendstocks), Product Yields (`mbpd`), Individual Capacities (`BPD`) for all 15 Refineries, and Unit Economics (`$/bbl` across System and 4 Regions: U.S. Gulf Coast, U.S. Mid-Continent, North Atlantic, U.S. West Coast).
Low-Carbon Fuels (Renewable Diesel & Ethanol): 100% consolidated & 50% partner disclosures for Diamond Green Diesel (`DGD`, 50/50 JV with Darling Ingredients `DAR`, 1.2B gal/yr renewable diesel & SAF + 50M gal/yr renewable naphtha across St. Charles LA and Port Arthur TX) and plant-level capacities across all 12 active Mid-Continent Ethanol plants (1,700 Mgal/yr ethanol, 4.47M tons/yr DDG, 592M bushels/yr corn).
Valero Proprietary Margin Indicators & Market Reference Prices: Monthly (`2020-08 → 2026-09`), quarterly (`FY2017Q3 → FY2026Q3`), and annual (`FY2017 → FY2025`) series from Valero's `Key-Commodity-Prices-*.xlsx` workbooks and `8-K` Earnings Releases.
Allowed Calculations (Step 4): Only cumulative period splits (`Q4 = full year (10-K) − nine months (10-Q)` and `quarter = year-to-date − previous year-to-date`) are used. All per-barrel (`$/bbl`) and per-gallon (`$/gal`) unit margins and operating costs are directly reported by Valero or Darling Ingredients (`DAR`).

Data updated 2026-10-27.

Every KPI on its own page

Full history, chart, sources and a citation for each metric

Refining System: Feedstock Slate, Product Yields, 15 Refinery Capacities & Unit Economics (Core Key)

Regional Refining Operations (U.S. Gulf Coast, U.S. Mid-Continent, North Atlantic, U.S. West Coast)

Renewable Diesel & Neat SAF — Diamond Green Diesel (DGD) 50/50 Consolidated JV (VLO & DAR)

Ethanol Segment: Production Volumes, $/gal Economics & 12 Plant Capacities (Ethanol, DDG, Corn)

Legacy Midstream MLP — Valero Energy Partners LP (VLP, Prior to Jan 2019 Buy-In)

VLP pipeline transportation throughput (mbpd, Legacy 2017–2018)9 periods

Valero Energy Corp (VLO) operating KPIs

KPIs

Every KPI on its own page

Refining System: Feedstock Slate, Product Yields, 15 Refinery Capacities & Unit Economics (Core Key)

Regional Refining Operations (U.S. Gulf Coast, U.S. Mid-Continent, North Atlantic, U.S. West Coast)

Renewable Diesel & Neat SAF — Diamond Green Diesel (DGD) 50/50 Consolidated JV (VLO & DAR)

Ethanol Segment: Production Volumes, $/gal Economics & 12 Plant Capacities (Ethanol, DDG, Corn)

Legacy Midstream MLP — Valero Energy Partners LP (VLP, Prior to Jan 2019 Buy-In)

Valero Regional Margin Indicators, Crack Spreads, RINs/LCFS & Lipid Feedstock Prices (Monthly/Quarterly/Annual)

Capital Investments (Sustaining vs. Growth), CapEx Guidance, Liquidity & Contractual Obligations

ESG (GHG Emissions, Process Safety, Air, Water), Workforce, DEF 14A & Form 11-K Plans

External Macro & U.S. Refining Industry Benchmarks (U.S. EIA, BLS, Federal Reserve, IMF)

Segment Results, Product Revenue Disaggregation, VIEs & Consolidated Financial Context (DB, XBRL & 8-K)