VLO » Topics » 4. INVENTORIES

This excerpt taken from the VLO 10-K filed Feb 26, 2007.

5. INVENTORIES

Inventories consisted of the following (in millions):

 

     December 31,
     2006    2005

Refinery feedstocks

   $ 1,981    $ 1,826

Refined products and blendstocks

     2,197      1,960

Convenience store merchandise

     85      91

Materials and supplies

     167      162
             

Inventories

   $ 4,430    $ 4,039
             

Refinery feedstock and refined product and blendstock inventory volumes totaled 114 million barrels and 108 million barrels as of December 31, 2006 and 2005, respectively. There were no significant liquidations of LIFO inventory layers for the years ended December 31, 2006, 2005, and 2004.

As of December 31, 2006 and 2005, the replacement cost (market value) of LIFO inventories exceeded their LIFO carrying amounts by approximately $2.9 billion and $3.3 billion, respectively.

 

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Table of Contents

VALERO ENERGY CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

 

This excerpt taken from the VLO 10-Q filed Nov 9, 2006.

4. INVENTORIES

Inventories consisted of the following (in millions):

 

    

September 30,

2006

   December 31,
2005

Refinery feedstocks

   $ 2,036    $ 1,826

Refined products and blendstocks

     2,377      1,960

Convenience store merchandise

     88      91

Materials and supplies

     165      162
             

Inventories

   $ 4,666    $ 4,039
             

As of September 30, 2006 and December 31, 2005, the replacement cost (market value) of LIFO inventories exceeded their LIFO carrying amounts by approximately $3.0 billion and $3.3 billion, respectively.

This excerpt taken from the VLO 10-Q filed Aug 9, 2006.

4. INVENTORIES

Inventories consisted of the following (in millions):

 

    

June 30,

2006

   December 31,
2005

Refinery feedstocks

   $ 2,365    $ 1,826

Refined products and blendstocks

     2,003      1,960

Convenience store merchandise

     94      91

Materials and supplies

     164      162
             

Inventories

   $ 4,626    $ 4,039
             

As of June 30, 2006 and December 31, 2005, the replacement cost (market value) of LIFO inventories exceeded their LIFO carrying amounts by approximately $5.1 billion and $3.3 billion, respectively.

This excerpt taken from the VLO 10-Q filed May 9, 2006.

5. INVENTORIES

Inventories consisted of the following (in millions):

 

    

March 31,

2006

   December 31,
2005

Refinery feedstocks

   $ 2,222    $ 1,826

Refined products and blendstocks

     1,908      1,960

Convenience store merchandise

     90      91

Materials and supplies

     161      162
             

Inventories

   $ 4,381    $ 4,039
             

As of March 31, 2006 and December 31, 2005, the replacement cost (market value) of LIFO inventories exceeded their LIFO carrying amounts by approximately $4.2 billion and $3.3 billion, respectively.

 

11


Table of Contents

VALERO ENERGY CORPORATION AND SUBSIDIARIES

CONDENSED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

 

This excerpt taken from the VLO 10-Q filed May 10, 2005.

4.   INVENTORIES

Inventories consisted of the following (in millions):

 

 

 

March 31,
2005

 

December 31,
2004

 

 

 


 


 

Refinery feedstocks

 

$

1,229

 

$

877

 

Refined products and blendstocks

 

 

1,320

 

 

1,200

 

Convenience store merchandise

 

 

93

 

 

84

 

Materials and supplies

 

 

159

 

 

157

 

 

 

 


 

 


 

Inventories

 

$

2,801

 

$

2,318

 

 

 

 


 

 


 

 

As of March 31, 2005 and December 31, 2004, the replacement cost of LIFO inventories exceeded their LIFO carrying amounts by approximately $2.6 billion and $1.2 billion, respectively.

This excerpt taken from the VLO 10-Q filed May 10, 2005.

4.   INVENTORIES

Inventories consisted of the following (in millions):

 

 

 

March 31,
2005

 

December 31,
2004

 

 

 


 


 

Refinery feedstocks

 

$

1,229

 

$

877

 

Refined products and blendstocks

 

 

1,320

 

 

1,200

 

Convenience store merchandise

 

 

93

 

 

84

 

Materials and supplies

 

 

159

 

 

157

 

 

 

 


 

 


 

Inventories

 

$

2,801

 

$

2,318

 

 

 

 


 

 


 

 

As of March 31, 2005 and December 31, 2004, the replacement cost of LIFO inventories exceeded their LIFO carrying amounts by approximately $2.6 billion and $1.2 billion, respectively.

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