0000000000-24-006394.txt : 20240719 0000000000-24-006394.hdr.sgml : 20240719 20240604143606 ACCESSION NUMBER: 0000000000-24-006394 CONFORMED SUBMISSION TYPE: UPLOAD PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20240604 FILED FOR: COMPANY DATA: COMPANY CONFORMED NAME: VALERO ENERGY CORP/TX CENTRAL INDEX KEY: 0001035002 STANDARD INDUSTRIAL CLASSIFICATION: PETROLEUM REFINING [2911] ORGANIZATION NAME: 01 Energy & Transportation IRS NUMBER: 741828067 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: UPLOAD SEC FILE NUMBER: 001-13175 BUSINESS ADDRESS: STREET 1: P.O. BOX 696000 CITY: SAN ANTONIO STATE: TX ZIP: 78269-6000 BUSINESS PHONE: 2103454524 MAIL ADDRESS: STREET 1: P.O. 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HE)45/1@H! end TEXT-EXTRACT 2 filename2.txt United States securities and exchange commission logo June 4, 2024 Jason W. Fraser Chief Financial Officer Valero Energy Corporation One Valero Way San Antonio, Texas 78249 Re: Valero Energy Corporation Form 10-K for the Fiscal Year ended December 31, 2023 Filed February 22, 2024 File No. 001-13175 Dear Jason W. Fraser: We have limited our review of your filing to the financial statements and related disclosures and have the following comment. Please respond to this letter within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe a comment applies to your facts and circumstances, please tell us why in your response. After reviewing your response to this letter, we may have additional comments. Form 10-K for the Fiscal Year ended December 31, 2023 Management's Discussion and Analysis Liquidity and Capital Resources , page 57 1. We note that you included an investor presentation called Leading Producer of Liquid Transportation Fuels as Exhibit 99.1 to the Form 8-K that you filed on May 1, 2024, and that in presenting information related to Sustaining Capex and Growth Capital Investments on page 56, you show that Total Growth Capital Investments decreased from $1,936 million in 2012 to $1,370 million in 2022 and to $430 million in 2023. Please expand your disclosures in your periodic reports as necessary to discuss and analyze the reasons for the decline in your growth capital investments, and the potential impact of the decline in growth capital investments on your short and long-term liquidity and profitability, to comply with Item 303 (b)(1) of Regulation S-K. Jason W. Fraser Valero Energy Corporation June 4, 2024 Page 2 In closing, we remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. Please contact Gus Rodriguez at 202-551-3752 or John Cannarella at 202-551-3337 with any questions. FirstName LastNameJason W. Fraser Sincerely, Comapany NameValero Energy Corporation Division of Corporation Finance June 4, 2024 Page 2 Office of Energy & Transportation FirstName LastName