XML 38 R28.htm IDEA: XBRL DOCUMENT
v3.20.2

Debt (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2020
Debt Disclosure [Abstract] |
Summary of credit facilities | We had outstanding borrowings, letters of credit issued, and availability under our credit facilities as follows (amounts in millions and currency in U.S. dollars, except as noted):
|  |  |  |  |  | September 30, 2020
|  | Facility Amount |  | Maturity Date |  | Outstanding Borrowings |  | Letters of Credit Issued (a) |  | Availability
Committed facilities: |  |  |  |  |  |  |  |  |  |
Valero Revolver |  | $ | 4,000 |  |  | March 2024 |  | $ | — |  |  | $ | 34 |  |  | $ | 3,966 |
364-day Revolving Credit Facility |  | $ | 875 |  |  | April 2021 |  | $ | — |  |  | n/a |  | $ | 875 |
Canadian Revolver |  | C$ | 150 |  |  | November 2020 |  | C$ | — |  |  | C$ | 5 |  |  | C$ | 145 |
Accounts receivable sales facility (b) |  | $ | 1,000 |  |  | July 2021 |  | $ | — |  |  | n/a |  | $ | 817 |
Letter of credit facility |  | $ | 50 |  |  | November 2020 |  | n/a |  | $ | — |  |  | $ | 50 |
Committed facilities of VIE (c): |  |  |  |  |  |  |  |  |  |
IEnova Revolver |  | $ | 660 |  |  | February 2028 |  | $ | 550 |  |  | n/a |  | $ | 110 |
Uncommitted facilities: |  |  |  |  |  |  |  |  |  |
Letter of credit facilities |  | n/a |  | n/a |  | n/a |  | $ | 46 |  |  | n/a
___________________ (a)Letters of credit issued as of September 30, 2020 expire at various times in 2020 through 2023. (b)In July 2020, we extended the maturity date of this facility to July 2021 and decreased the facility amount from $1.3 billion to $1.0 billion. The available borrowing capacity was lower than the facility amount due to low product prices impacting the amount of eligible receivables. (c)Creditors of our VIE do not have recourse against us.
Interest and debt expense, net of capitalized interest | “Interest and debt expense, net of capitalized interest” is comprised as follows (in millions):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2020 |  | 2019 |  | 2020 |  | 2019
Interest and debt expense | $ | 162 |  |  | $ | 133 |  |  | $ | 468 |  |  | $ | 405 |
Less: Capitalized interest | 19 |  |  | 22 |  |  | 58 |  |  | 70 |
Interest and debt expense, net of capitalized interest | $ | 143 |  |  | $ | 111 |  |  | $ | 410 |  |  | $ | 335 |

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of interest income and expense, including, but not limited to, interest income and expense from investments, loans, and securities. + References No definition available. + Details
Name: | us-gaap_InterestIncomeAndInterestExpenseDisclosureTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(e),(f)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
Name: | us-gaap_ScheduleOfLineOfCreditFacilitiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration