8-K/AOther Events

VALERO ENERGY CORP/TX 8-K/A Report (May 10, 2004)

Filed May 10, 2004For Securities:VLO

Summary

This Form 8-K/A filing from Valero Energy Corporation (VLO) serves as an amendment to a previous 8-K filed on March 9, 2004. The primary purpose of this amendment is to provide the necessary financial statements and pro forma financial information related to Valero's previously announced acquisition of the Aruba refinery and its associated marine, bunkering, and marketing operations. Investors can now review the detailed financial performance of the acquired Aruba business and understand its projected impact on Valero's overall financial position and results of operations on a combined basis. The filing includes the independent auditor's report, combined balance sheets, income statements, and cash flow statements for the El Paso Aruba Refining Business for the years ended December 31, 2001, 2002, and 2003. Additionally, unaudited pro forma combined financial statements are provided to illustrate the combined entity's financial position and income as if the acquisition had occurred at an earlier date. This comprehensive financial data is crucial for investors to assess the accretion or dilution of the acquisition and Valero's expanded operational scale.

Key Highlights

  • 1Amendment to a previous 8-K filing to include required financial information for an acquisition.
  • 2Provides audited financial statements for the acquired El Paso Aruba Refining Business for fiscal years 2001-2003.
  • 3Includes combined balance sheets, income statements, and cash flow statements for the Aruba operations.
  • 4Presents unaudited pro forma combined financial statements as of December 31, 2003, to show the potential impact of the acquisition.
  • 5Confirms the inclusion of the Consent of PricewaterhouseCoopers LLP as an exhibit.
  • 6Offers detailed financial data essential for investors to evaluate the Aruba acquisition's financial implications for Valero.

Frequently Asked Questions

This amended 8-K filing (8-K/A) is being submitted by Valero Energy Corporation to provide the required financial statements and pro forma financial information for the acquisition of the Aruba refinery and related operations, which was initially reported in a previous 8-K filing.

The filing includes the Report of Independent Auditors, Combined Balance Sheets (as of December 31, 2003 and 2002), Combined Statements of Income and Owner's Net Investment (for the years ended December 31, 2003, 2002, and 2001), and Combined Statements of Cash Flows (for the years ended December 31, 2003, 2002, and 2001) for the El Paso Aruba Refining Business.

The Pro Forma Financial Information section includes an Unaudited Pro Forma Combined Balance Sheet as of December 31, 2003, and an Unaudited Pro Forma Combined Statement of Income for the year ended December 31, 2003. This information is presented to show how Valero's financial statements might have looked if the Aruba acquisition had occurred on an earlier date, allowing investors to better assess the combined entity's financial position and performance.

This filing is primarily focused on providing the necessary financial disclosures for the acquisition of the Aruba refinery and related operations that Valero previously announced. It does not appear to report any new business operations or material events beyond fulfilling the financial reporting requirements for this acquisition.