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Debt and Finance Lease Obligations (Tables) | 12 Months Ended
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Dec. 31, 2020
Debt and Lease Obligation [Abstract] |
Debt and finance lease obligations | Debt, at stated values, and finance lease obligations consisted of the following (in millions):
| Final Maturity |  | December 31,
|  | 2020 |  | 2019
Credit facilities: |  |  |  |  |
Valero Revolver | 2024 |  | $ | — |  |  | $ | — |
364-day Revolving Credit Facility | 2021 |  | — |  |  | — |
IEnova Revolver | 2028 |  | 598 |  |  | 348 |
Canadian Revolver | 2021 |  | — |  |  | — |
Accounts receivable sales facility | 2021 |  | — |  |  | 100 |
Public debt: |  |  |  |  |
Valero Senior Notes |  |  |  |  |
6.625% | 2037 |  | 1,500 |  |  | 1,500 |
3.4% | 2026 |  | 1,250 |  |  | 1,250 |
2.85% | 2025 |  | 1,050 |  |  | — |
4.0% | 2029 |  | 1,000 |  |  | 1,000 |
1.2% | 2024 |  | 925 |  |  | — |
2.7% | 2023 |  | 850 |  |  | — |
4.35% | 2028 |  | 750 |  |  | 750 |
7.5% | 2032 |  | 750 |  |  | 750 |
4.9% | 2045 |  | 650 |  |  | 650 |
3.65% | 2025 |  | 600 |  |  | 600 |
2.15% | 2027 |  | 600 |  |  | — |
Floating Rate Notes at 1.3665% | 2023 |  | 575 |  |  | — |
10.5% | 2039 |  | 250 |  |  | 250 |
8.75% | 2030 |  | 200 |  |  | 200 |
7.45% | 2097 |  | 100 |  |  | 100 |
6.75% | 2037 |  | 24 |  |  | 24 |
VLP Senior Notes |  |  |  |  |
4.375% | 2026 |  | 500 |  |  | 500 |
4.5% | 2028 |  | 500 |  |  | 500 |
Gulf Opportunity Zone Revenue Bonds, Series 2010, 4.0% | 2040 |  | 300 |  |  | 300 |
Debenture, 7.65% | 2026 |  | 100 |  |  | 100 |
Other debt | Various |  | 31 |  |  | 47 |
Net unamortized debt issuance costs and other |  |  | (90) |  |  | (88) |
Total debt |  |  | 13,013 |  |  | 8,881 |
Finance lease obligations (see Note 6) |  |  | 1,664 |  |  | 791 |
Total debt and finance lease obligations |  |  | 14,677 |  |  | 9,672 |
Less: Current portion |  |  | 723 |  |  | 494 |
Debt and finance lease obligations, less current portion |  |  | $ | 13,954 |  |  | $ | 9,178 |
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):
|  |  |  |  |  | December 31, 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 2021 |  | C$ | — |  |  | C$ | 5 |  |  | C$ | 145 |
Accounts receivable sales facility (b) |  | $ | 1,000 |  |  | July 2021 |  | $ | — |  |  | n/a |  | $ | 885 |
Letter of credit facility (c) |  | $ | 50 |  |  | November 2021 |  | n/a |  | $ | — |  |  | $ | 50 |
Committed facility of VIE (d): |  |  |  |  |  |  |  |  |  |
IEnova Revolver |  | $ | 660 |  |  | February 2028 |  | $ | 598 |  |  | n/a |  | $ | 62 |
Uncommitted facilities: |  |  |  |  |  |  |  |  |  |
Letter of credit facilities |  | n/a |  | n/a |  | n/a |  | $ | 150 |  |  | n/a
________________________ (a)Letters of credit issued as of December 31, 2020 expire at various times in 2021 through 2023. (b)The available borrowing capacity was lower than the facility amount due to low product prices impacting the amount of eligible receivables. (c)We extended the maturity date of the letter of credit facility from November 2020 to November 2021. (d)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):
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
Interest and debt expense | $ | 638 |  |  | $ | 544 |  |  | $ | 557 |
Less: Capitalized interest | 75 |  |  | 90 |  |  | 87 |
Interest and debt expense, net of capitalized interest | $ | 563 |  |  | $ | 454 |  |  | $ | 470 |
Principal maturities for debt obligations | Principal maturities for our debt obligations as of December 31, 2020 were as follows (in millions):
2021 (a) | $ | 603 |
2022 | 6 |
2023 | 1,445 |
2024 | 925 |
2025 | 1,650 |
Thereafter | 8,474 |
Net unamortized debt issuance costs and other | (90) |
Total debt | $ | 13,013 |
________________________ (a)As of December 31, 2020, our debt obligations due in 2021 include $598 million associated with borrowings under the IEnova Revolver.

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