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Debt and Finance Lease Obligations (Tables)
 12 Months Ended
Dec. 31, 2025
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,
20252024
Credit facilities:
Valero Revolver
2030$— $— 
Accounts Receivable Sales Facility2026— — 
DGD Revolver2026— — 
DGD Loan Agreement2026— — 
IEnova Revolver
202823 58 
Public debt:
Valero Senior Notes
2.850%
2025— 251 
3.65%
2025— 189 
3.400%
2026426 426 
2.150%
2027564 564 
4.350%
2028591 591 
4.000%
2029439 439 
5.150%
2030650 — 
8.75%
2030200 200 
2.800%
2031462 462 
7.5%
2032729 729 
6.625%
20371,380 1,380 
6.75%
203724 24 
10.500%
2039113 113 
4.90%
2045621 621 
3.650%
2051829 829 
4.000%
2052508 508 
7.45%
209770 70 
Valero Energy Partners LP (VLP) Senior Notes
4.375%
2026146 146 
4.500%
2028456 456 
Debenture, 7.65%
2026100 100 
Net unamortized debt issuance costs and other(70)(71)
Total debt8,261 8,085 
Finance lease obligations (see Note 5)
2,358 2,378 
Total debt and finance lease obligations10,619 10,463 
Less: Current portion949 743 
Debt and finance lease obligations, less current portion$9,670 $9,720 
Summary of Credit Facilities
We had outstanding borrowings, letters of credit issued, and availability under our credit facilities as follows (in millions):
December 31, 2025
Facility
Amount		Maturity
Date		Outstanding
Borrowings		Letters of Credit
Issued (a)		Availability
Committed facilities:
Valero Revolver$4,000 October 2030$— $2 $3,998 
Accounts receivable sales
facility
1,300 July 2026— n/a1,300 
Committed facilities of VIEs (b):
DGD Revolver400 June 2026— 29 371 
DGD Loan Agreement (c)100 June 2026— n/a100 
IEnova Revolver1,000 February 202823 n/a977 
Uncommitted facilities:
Letter of credit facilitiesn/an/an/a7 n/a
Uncommitted facility of VIE (b):
DGD letter of credit facilityn/an/an/a66 n/a
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(a)Letters of credit issued as of December 31, 2025 expire at various times in 2026 through 2027.
(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,
202520242023
Borrowings:
Accounts receivable sales facility$6,250 $6,700 $1,750 
DGD Revolver650 310 550 
DGD Loan Agreement25 100 — 
IEnova Revolver— 27 120 
Repayments:
Accounts receivable sales facility(6,250)(6,700)(1,750)
DGD Revolver(650)(560)(400)
DGD Loan Agreement(25)(100)(25)
IEnova Revolver(35)— (71)
Debt Purchased and Retired
In February 2023, we used cash on hand to purchase and retire a portion of the following notes (in millions):
Debt Purchased and RetiredPrincipal
Amount
6.625% Senior Notes due 2037
$62 
3.650% Senior Notes due 2051
26 
4.000% Senior Notes due 2052
45 
Various other Valero and VLP Senior Notes66 
Total$199 
Interest and Debt Expense, Net of Capitalized Interest
“Interest and debt expense, net of capitalized interest” was comprised as follows (in millions):
Year Ended December 31,
202520242023
Interest and debt expense$576 $580 $611 
Less: Capitalized interest20 24 19 
Interest and debt expense, net of
capitalized interest
$556 $556 $592 
Principal Maturities for Debt Obligations
Principal maturities for our debt obligations as of December 31, 2025 were as follows (in millions):
2026 (a)$695 
2027564 
20281,047 
2029439 
2030850 
Thereafter4,736 
Net unamortized debt issuance costs and other(70)
Total debt$8,261 
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(a)Maturities for 2026 include the IEnova Revolver.