Valero 2003 Annual Report Download - page 3

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(Millions฀of฀Dollars,฀Except฀Per฀Share฀Amounts)
Year฀Ended฀December฀31,฀฀฀ ฀2003฀ ฀ 2002
Operating฀Revenues฀$฀37,969฀ $฀ 29,048
Operating฀Income฀$฀ 1,222฀ $฀฀฀฀฀฀ 471
Net฀Income฀฀$฀฀฀฀฀฀622฀ $฀฀฀฀฀฀฀฀ 92
Earnings฀Per฀Common฀Share-฀฀฀
Assuming฀Dilution฀
$฀฀฀฀฀5.09฀ $฀฀฀฀฀ 0.83
Total฀Assets฀$฀15,664฀ $฀ 14,465
Stockholders’฀Equity฀$฀฀฀5,735฀ $฀฀฀ 4,308
Capital฀Expenditures฀and฀Deferred
Turnaround฀and฀Catalyst฀Costs฀$฀฀฀1,112฀ $฀฀฀฀฀฀ 780
our฀nancial฀highlights
of฀that฀WORLD
and฀WE’RE฀ON฀TOP
VALERO฀ENERGY฀CORPORATION฀•฀SUMMARY฀ANNUAL฀REPORT
In฀an฀effort฀to฀provide฀shareholders฀with฀more฀effective฀communications,฀Valero฀Energy฀
Corporation฀has฀adopted฀a฀summary฀annual฀report฀format,฀which฀provides฀condensed฀
nancial฀disclosure.฀The฀company’s฀full฀nancial฀statements฀are฀contained฀in฀its฀Annual฀
Report฀on฀Form฀10-K฀for฀the฀year฀ended฀December฀31,฀2003,฀which฀is฀provided฀to฀
all฀shareholders.