Valero 2004 Annual Report Download - page 29
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Va l e r o E n e r g y C o r p or a t i o n
s u m m a r y a n n u a l r e p o r t
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Va l e r o E n e r g y C o r p or a t i o n
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Va l e r o E n e r g y C o r p or a t i o n
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CONDENSEDCONSOLIDATED5-YRFINANCIAL&STATISTICALREVIEW
COMMONSTOCKDATA:
DividendsperCommonShare(f ) $ 0.29 $ 0.21 $ 0.20 $ 0.17 $ 0.16
NumberofSharesOutstanding,
EndofYear(inmillions)(f) 255.5 240.5 214.3 208.4 121.7
NumberofRegisteredShareholders,
EndofYear 6,554 6,564 7,174 7,265 5,207
MarketPrice(f):
High $ 47.82 $ 23.54 $ 24.99 $ 26.30 $ 19.32
Low $ 22.85 $ 16.10 $ 11.58 $ 15.75 $ 9.25
CAPITALIZATIONRATIOS(NETOFCASH):(g)
Long-TermDebtandCapitalLeaseObligations,
includingCurrentPortions,andShort-TermDebt 31% 40% 50% 53% 40%
Stockholders’EquityandOther 69% 60% 50% 47% 60%
OTHERDATA:
CapitalExpendituresandDeferredTurnaround
andCatalystCosts $ 1,596 $ 1,112 $ 780 $ 536 $ 302
NumberofEmployees,EndofYear 19,879 19,741 19,878 22,355 3,129
OPERATINGSTATISTICS:
ThroughputVolumes(mbblsperday) 2,162 1,835 1,595 1,001 857
ThroughputMarginperBarrel $ 7.44 $ 5.13 $ 4.02 $ 6.12 $ 5.08
OperatingCostsperBarrel:
RefiningOperatingExpenses $ 2.70 $ 2.47 $ 2.29 $ 2.31 $ 2.18
DepreciationandAmortization 0.66 0.63 0.66 0.63 0.53
TotalOperatingCostsperBarrel $ 3.36 $ 3.10 $ 2.95 $ 2.94 $ 2.71
(a) IncludestheoperationsrelatedtotheArubaAcquisitionbeginningMarch5,2004.
(b) IncludestheoperationsoftheSt.CharlesRefinerybeginningJuly1,2003.
(c) IncludestheoperationsofUDSbeginningJanuary1,2002.
(d) IncludestheoperationsrelatedtotheacquisitionsfromHuntwayRefiningCompanyandElPasoCorporationbeginning
June1,2001.Theresultsofoperations,operatingstatisticsandcashflowinformationexcludetheoperationsofUDS,while
thefinancialposition,commonstockdata,capitalizationratiosandemployeesincludetheeffectofUDS,whichwasacquired
byValeroonDecember31,2001.
(e) IncludestheoperationsrelatedtotheBeniciaRefineryandtherelateddistributionassetsbeginningMay16,2000andthe
operationsoftherelatedCaliforniaservicestationsbeginningJune16,2000.
(f) Shareandpershareamountsfor2003,2002,2001and2000havebeenadjustedtoreflecttheeffectofatwo-for-onestocksplit,
whichwaseffectedintheformofastockdividenddistributedonOctober7,2004.
(g) Indeterminingthe2002,2001and2000ratios,20%oftheoutstandingbalanceofValero’scompany-obligatedpreferred
securitiesofsubsidiarytrust(PEPSUnits)issuedin2000wasdeemedtobedebt.Inaddition,forthe2002and2001ratios,
50%ofthe$200millioncompany-obligatedpreferredsecuritiesofsubsidiarytrustassumedintheUDSAcquisitionwasdeemed
tobedebt,andin2001thepayabletoUDSshareholderswasincludedasdebt.
2004(a) 2003(b) 2002(c) 2001(d) 2000(e)
YEARENDEDDECEMBER31,