Renewable Diesel Driving Low Carbon Results
Non-GAAP Disclosures:
Renewable Diesel Net Cumulative Cash Flow
RECONCILIATION OF DGD OPERATING INCOME AND TOTAL CAPITAL INVESTEMENTS TO DGD'S NET CUMMULATIVE CASH FLOW ATTRIBUTABLE TO VALERO
(unaudited, in millions)
2011
2012
2013
2014
Year Ended
December 31,
2015
Quarter Ended
March 31,
2016
2017
2018
2019
2020
2021
DGD's cumulative adjusted EBITDA attributable to VLO:
Operating income (loss)
($5)
$24
$145
$157
$147
$57
$319
$728
$630
$205
Plus: depreciation and amortization expense
9
18
20
28
29
29
51
45
11
($5)
$33
$163
$177
$175
$86
$348
$779
$675
$216
EBITDA
Adjustments:
EBITDA BTC adjustments (2018-2019)
EBITDA BTC adjustments (2017-2018)
DGD adjusted EBITDA
Our ownership interest
DGD's adjusted EBITDA attributable to VLO
156
(156)
160
(160)
($5)
$33
$163
$177
$175
$246
$344
$623
$675
$216
50%
50%
50%
50%
50%
50%
50%
50%
50%
50%
($3)
$17
$82
$89
$88
$123
$172
$312
$338
$108
($3)
$14
$96
$185
$273
$396
$568
$880
$1,218
$1,326
DGD's cumulative adjusted EBITDA attributable to VLO (A)
DGD's cumulative capital investments attributable to VLO:
Total DGD #1 Capital Investment
$106
$210
$74
$14
$2
$34
$88
$170
$24
$31
$1
Total DGD #2 Capital Investment
22
136
481
108
Total DGD #3 Capital Investment
36
45
Total DGD Capital Investments
Our ownership interest
$106
$210
$74
$14
$2
$34
$88
$192
$160
$548
$154
50%
50%
50%
50%
50%
50%
50%
50%
50%
50%
50%
DGD's capital investments attributable to VLO
$53
$105
$37
$7
$1
$17
$44
$96
$80
$274
$77
DGD's cumulative capital investments attributable to VLO (B)
DGD's net cumulative cash flow attributable to VLO (A-B)
$53
$158
$195
$202
$203
$220
$264
$360
$440
$714
$791
($53)
($161)
($181)
($106)
($18)
$53
$132
$208
$440
$504
$535
INVESTOR PRESENTATION | JUNE 2021
Valero 48View entire presentation