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Debt and Finance Lease Obligations (Tables)
 12 Months Ended
Dec. 31, 2020
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,
20202019
Credit facilities:
Valero Revolver
2024$— $— 
364-day Revolving Credit Facility2021— — 
IEnova Revolver
2028598 348 
Canadian Revolver
2021— — 
Accounts receivable sales facility
2021— 100 
Public debt:
Valero Senior Notes
6.625%
20371,500 1,500 
3.4%
20261,250 1,250 
2.85%
20251,050 — 
4.0%
20291,000 1,000 
1.2%
2024925 — 
2.7%
2023850 — 
4.35%
2028750 750 
7.5%
2032750 750 
4.9%
2045650 650 
3.65%
2025600 600 
2.15%
2027600 — 
Floating Rate Notes at 1.3665%
2023575 — 
10.5%
2039250 250 
8.75%
2030200 200 
7.45%
2097100 100 
6.75%
203724 24 
VLP Senior Notes
4.375%
2026500 500 
4.5%
2028500 500 
Gulf Opportunity Zone Revenue Bonds, Series 2010, 4.0%
2040300 300 
Debenture, 7.65%
2026100 100 
Other debtVarious31 47 
Net unamortized debt issuance costs and other(90)(88)
Total debt13,013 8,881 
Finance lease obligations (see Note 6)
1,664 791 
Total debt and finance lease obligations14,677 9,672 
Less: Current portion723 494 
Debt and finance lease obligations, less current portion$13,954 $9,178 
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, 2020
Facility
Amount		Maturity DateOutstanding
Borrowings		Letters of Credit
Issued (a)		Availability
Committed facilities:
Valero Revolver$4,000 March 2024$— $34 $3,966 
364-day Revolving
Credit Facility
$875 April 2021$— n/a$875 
Canadian RevolverC$150 November 2021C$— C$5 C$145 
Accounts receivable
sales facility (b)
$1,000 July 2021$— n/a$885 
Letter of credit
facility (c)
$50 November 2021n/a$— $50 
Committed facility of
VIE (d):
IEnova Revolver$660 February 2028$598 n/a$62 
Uncommitted facilities:
Letter of credit facilitiesn/an/an/a$150 n/a
________________________
(a)Letters of credit issued as of December 31, 2020 expire at various times in 2021 through 2023.
(b)The available borrowing capacity was lower than the facility amount due to low product prices impacting the amount of eligible receivables.
(c)We extended the maturity date of the letter of credit facility from November 2020 to November 2021.
(d)Creditors of our VIE do not have recourse against us.
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,
202020192018
Interest and debt expense$638 $544 $557 
Less: Capitalized interest75 90 87 
Interest and debt expense, net of
capitalized interest
$563 $454 $470 
Principal maturities for debt obligations
Principal maturities for our debt obligations as of December 31, 2020 were as follows (in millions):
2021 (a)$603 
20226 
20231,445 
2024925 
20251,650 
Thereafter8,474 
Net unamortized debt issuance costs and other(90)
Total debt$13,013 
________________________
(a)As of December 31, 2020, our debt obligations due in 2021 include $598 million associated with borrowings under the IEnova Revolver.