Oil & Gas › Disclosure examples

Oil & Gas: Derivatives & hedging (ASC 815)

Note: ASC 815 disclosures about derivative instruments and hedging activities.

VALERO ENERGY CORP/TX (VLO) · Form 10-K for period ended 2025-12-31 · filed 2026-02-25 · Section: ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

Year Ended December 31,
2025 2024 2023
Net income 2,246 3,006 9,149
Other comprehensive income (loss):
Foreign currency translation adjustment 659 ( 546 ) 433
Net gain on pension and other postretirement benefits 170 207 30
Net gain (loss) on cash flow hedges 24 ( 87 ) 90
Other comprehensive income (loss) before income tax expense 853 ( 426 ) 553
Income tax expense related to items of other comprehensive income (loss) 36 21 18
Other comprehensive income (loss) 817 ( 447 ) 535
Comprehensive income 3,063 2,559 9,684
Less: Comprehensive income (loss) attributable to noncontrolling interests ( 88 ) 191 360
Comprehensive income attributable to Valero Energy Corporation stockholders 3,151 2,368 9,324
See Notes to Consolidated Financial Statements.
VALERO ENERGY CORPORATION
CONSOLIDATED STATEMENTS OF EQUITY
(millions of dollars, except per share amounts)
Valero Energy Corporation Stockholders’ Equity
Common Stock Additional Paid-in Capital Treasury Stock Retained Earnings Accumulated Other Comprehensive Loss Total Non- controlling Interests Total Equity
Balance as of December 31, 2022 7 6,863 ( 20,197 ) 38,247 ( 1,359 ) 23,561 1,907 25,468
Net income — — — 8,835 — 8,835 314 9,149
Dividends on common stock ($ 4.08 per share) — — — ( 1,452 ) — ( 1,452 ) — ( 1,452 )
Stock-based compensation expense — 94 — — — 94 — 94
Transactions in connection with stock-based compensation plans — ( 56 ) 63 — — 7 — 7
Purchases of common stock for treasury — — ( 5,188 ) — — ( 5,188 ) — ( 5,188 )
Contributions from noncontrolling interests — — — — — — 75 75
Distributions to noncontrolling interests — — — — — — ( 164 ) ( 164 )
Other comprehensive income — — — — 489 489 46 535
Balance as of December 31, 2023 7 6,901 ( 25,322 ) 45,630 ( 870 ) 26,346 2,178 28,524
Net income — — — 2,770 — 2,770 236 3,006
Dividends on common stock ($ 4.28 per share) — — — ( 1,384 ) — ( 1,384 ) — ( 1,384 )
Stock-based compensation expense — 89 — — — 89 — 89
Transactions in connection with stock-based compensation plans — ( 51 ) 52 — — 1 — 1
Purchases of common stock for treasury — — ( 2,908 ) — — ( 2,908 ) — ( 2,908 )
Contributions from noncontrolling interests — — — — — — 90 90
Distributions to noncontrolling interests — — — — — — ( 182 ) ( 182 )
Conversion of IEnova Revolver debt to equity (see Notes 9 and 12) — — — — — — 732 732
Other comprehensive loss — — — — ( 402 ) ( 402 ) ( 45 ) ( 447 )
Balance as of December 31, 2024 7 6,939 ( 28,178 ) 47,016 ( 1,272 ) 24,512 3,009 27,521
Net income (loss) — — — 2,348 — 2,348 ( 102 ) 2,246
Dividends on common stock ($ 4.52 per share) — — — ( 1,405 ) — ( 1,405 ) — ( 1,405 )
Stock-based compensation expense — 100 — — — 100 — 100

Verbatim excerpt (621 words), formatting simplified. View full filing on EDGAR →

See all Derivatives & hedging (ASC 815) examples →

Templates & resources

AICPA & CIMA – SEC reporting resources (AICPA & CIMA · Professional body · Free / member)
BDO Accounting, Reporting & Compliance Hub (ARCH) (BDO · Firm guide · Free)
Deloitte DART – Roadmap Series (Deloitte · Firm guide · Free)
Grant Thornton Insights (Grant Thornton · Firm guide · Free)
KPMG Financial Reporting View (KPMG · Firm guide · Free)
PwC Viewpoint (PwC · Firm guide · Free / paid)
RSM Financial Reporting Resource Center (RSM · Firm guide · Free)
SEC – EDGAR Full Text Search (SEC · Regulator · Free)

Listed alphabetically by provider. Listings are not endorsements; no provider pays for placement. All templates & resources

Year Ended December 31,
2025	2024	2023
Net income	2,246	3,006	9,149
Other comprehensive income (loss):
Foreign currency translation adjustment	659	( 546 )	433
Net gain on pension and other postretirement benefits	170	207	30
Net gain (loss) on cash flow hedges	24	( 87 )	90
Other comprehensive income (loss) before income tax expense	853	( 426 )	553
Income tax expense related to items of other comprehensive income (loss)	36	21	18
Other comprehensive income (loss)	817	( 447 )	535
Comprehensive income	3,063	2,559	9,684
Less: Comprehensive income (loss) attributable to noncontrolling interests	( 88 )	191	360
Comprehensive income attributable to Valero Energy Corporation stockholders	3,151	2,368	9,324

Valero Energy Corporation Stockholders’ Equity
Common Stock	Additional Paid-in Capital	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Loss	Total	Non- controlling Interests	Total Equity
Balance as of December 31, 2022	7	6,863	( 20,197 )	38,247	( 1,359 )	23,561	1,907	25,468
Net income	—	—	—	8,835	—	8,835	314	9,149
Dividends on common stock ($ 4.08 per share)	—	—	—	( 1,452 )	—	( 1,452 )	—	( 1,452 )
Stock-based compensation expense	—	94	—	—	—	94	—	94
Transactions in connection with stock-based compensation plans	—	( 56 )	63	—	—	7	—	7
Purchases of common stock for treasury	—	—	( 5,188 )	—	—	( 5,188 )	—	( 5,188 )
Contributions from noncontrolling interests	—	—	—	—	—	—	75	75
Distributions to noncontrolling interests	—	—	—	—	—	—	( 164 )	( 164 )
Other comprehensive income	—	—	—	—	489	489	46	535
Balance as of December 31, 2023	7	6,901	( 25,322 )	45,630	( 870 )	26,346	2,178	28,524
Net income	—	—	—	2,770	—	2,770	236	3,006
Dividends on common stock ($ 4.28 per share)	—	—	—	( 1,384 )	—	( 1,384 )	—	( 1,384 )
Stock-based compensation expense	—	89	—	—	—	89	—	89
Transactions in connection with stock-based compensation plans	—	( 51 )	52	—	—	1	—	1
Purchases of common stock for treasury	—	—	( 2,908 )	—	—	( 2,908 )	—	( 2,908 )
Contributions from noncontrolling interests	—	—	—	—	—	—	90	90
Distributions to noncontrolling interests	—	—	—	—	—	—	( 182 )	( 182 )
Conversion of IEnova Revolver debt to equity (see Notes 9 and 12)	—	—	—	—	—	—	732	732
Other comprehensive loss	—	—	—	—	( 402 )	( 402 )	( 45 )	( 447 )
Balance as of December 31, 2024	7	6,939	( 28,178 )	47,016	( 1,272 )	24,512	3,009	27,521
Net income (loss)	—	—	—	2,348	—	2,348	( 102 )	2,246
Dividends on common stock ($ 4.52 per share)	—	—	—	( 1,405 )	—	( 1,405 )	—	( 1,405 )
Stock-based compensation expense	—	100	—	—	—	100	—	100