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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities:    
Net income $ 2,001 $ 3,706
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 1,426 1,348
Lower of cost or market inventory valuation adjustment (747) 0
Asset impairment loss 56 0
Deferred income tax expense 193 77
Changes in current assets and current liabilities 953 46
Changes in deferred charges and credits and other operating activities, net (60) (53)
Net cash provided by operating activities 3,822 5,124
Cash flows from investing activities:    
Capital expenditures (912) (1,186)
Deferred turnaround and catalyst costs (474) (509)
Other investing activities, net 2 16
Net cash used in investing activities (1,384) (1,679)
Cash flows from financing activities:    
Proceeds from debt issuances or borrowings 1,653 1,446
Repayments of debt and capital lease obligations (28) (509)
Purchase of common stock for treasury (1,167) (2,071)
Common stock dividends (840) (608)
Contributions from noncontrolling interests 0 4
Distributions to noncontrolling interests (public unitholders) of Valero Energy Partners LP (22) (14)
Distributions to other noncontrolling interest (32) (25)
Other financing activities, net (143) 50
Net cash used in financing activities (579) (1,727)
Effect of foreign exchange rate changes on cash (24) (106)
Net increase in cash and temporary cash investments 1,835 1,612
Cash and temporary cash investments at beginning of period 4,114 3,689
Cash and temporary cash investments at end of period $ 5,949 $ 5,301