8-K/AOther Events

VALERO ENERGY CORP/TX 8-K/A Report (Aug 12, 2003)

Filed August 12, 2003For Securities:VLO

Summary

This filing is an amendment to a previous 8-K report by Valero Energy Corporation (VLO), filed on July 15, 2003. The amendment, filed on August 11, 2003, provides the required financial statements and pro forma financial information related to Valero's acquisition of assets from Orion Refining Corporation, an event that occurred as of June 30, 2003. This supplemental filing is crucial for investors to assess the financial impact and integration of the Orion Refining assets into Valero's operations. Investors should pay close attention to the detailed financial statements of Orion Refining Corporation for the periods ended December 31, 2002, 2001, and 2000, as well as unaudited statements for the first quarter of 2003. Additionally, the unaudited pro forma combined financial statements will offer insight into how the combined entity would have performed historically, providing a clearer picture of the expected future financial performance and the immediate financial standing post-acquisition.

Key Highlights

  • 1Amendment to prior 8-K filing to provide necessary financial details of an acquired business.
  • 2Acquisition of assets from Orion Refining Corporation was the primary event triggering this filing.
  • 3Includes detailed historical financial statements for Orion Refining Corporation for fiscal years 2000-2002.
  • 4Provides unaudited financial statements for Orion Refining Corporation for the three months ended March 31, 2003 and 2002.
  • 5Presents unaudited pro forma combined financial information for Valero and Orion Refining as of March 31, 2003, and for the periods then ended.
  • 6The filing aims to give investors a complete financial picture of the Orion Refining acquisition.
  • 7Exhibits include consents from PricewaterhouseCoopers LLP and the financial statements/pro forma information itself.

Frequently Asked Questions

This filing is an amendment to a previous 8-K report. Its primary purpose is to provide the essential financial statements of the acquired business (Orion Refining Corporation) and the pro forma financial information, which were missing from the initial report filed on July 15, 2003.

The filing includes audited financial statements for Orion Refining Corporation for the fiscal years ended December 31, 2002, 2001, and 2000. It also includes unaudited financial statements for the three-month periods ended March 31, 2003, and 2002.

Pro forma financial information shows how the combined company (Valero and Orion Refining) would have looked financially if the acquisition had occurred at an earlier point in time. This helps investors understand the potential impact of the acquisition on Valero's financial statements and performance, providing a more informed view of the company's financial health post-acquisition.

The event date reported for the acquisition of assets from Orion Refining Corporation is June 30, 2003, although this amendment was filed on August 11, 2003, and the original 8-K was filed on July 15, 2003.