Valero 2015 Annual Report Download - page 14
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Table of Contents
ENVIRONMENTAL MATTERS
We incorporate by reference into this Item the environmental disclosures contained in the following sections of this report:
• Item 1A, “Risk Factors”—Compliance with and changes in environmental laws, including proposed climate change laws
and regulations, could adversely affect our performance,
• Item 1A, “Risk Factors”—We may incur additional costs as a result of our use of rail cars for the transportation of crude
oil and the products that we manufacture,
• Item 3, “Legal Proceedings” under the caption “Environmental Enforcement Matters,” and
• Item 8, “Financial Statements and Supplementary Data” in Note 9 of Notes to Consolidated Financial Statements under the
caption “Environmental Liabilities,” and Note 11 of Notes to Consolidated Financial Statements under the caption
“Environmental Matters.”
Capital Expenditures Attributable to Compliance with Environmental Regulations . In 2015, our capital expenditures attributable to
compliance with environmental regulations were $140 million, and they are currently estimated to be $83 million for 2016 and
$95 million for 2017. The estimates for 2016 and 2017 do not include amounts related to capital investments at our facilities that
management has deemed to be strategic investments. These amounts could materially change as a result of governmental and
regulatory actions.
PROPERTIES
Our principal properties are described above under the caption “Valero’s Operations,” and that information is incorporated herein by
reference. We believe that our properties and facilities are generally adequate for our operations and that our facilities are maintained in
a good state of repair. As of December 31, 2015, we were the lessee under a number of cancelable and noncancelable leases for certain
properties. Our leases are discussed more fully in Notes 10 and 11 of Notes to Consolidated Financial Statements. Financial information
about our properties is presented in Note 7 of Notes to Consolidated Financial Statements and is incorporated herein by reference.
Our patents relating to our refining operations are not material to us as a whole. The trademarks and tradenames under which we
conduct our branded wholesale business–including Valero ®, Diamond Shamrock®, Shamrock®, Ultramar®, Beacon®, Texaco®–and
other trademarks employed in the marketing of petroleum products are integral to our wholesale marketing operations.
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