Earnings Per Common Share (Tables)

12 Months Ended

Dec. 31, 2016

Earnings Per Share [Abstract]

Schedule of earnings per common share, basic and diluted

Earnings per common share from continuing operations were computed as follows (dollars and shares in millions, except per share amounts):

	Year Ended December 31,
	2016				2015				2014
	Participating Securities		Common Stock		Participating Securities		Common Stock		Participating Securities		Common Stock
Earnings per common share from continuing operations:
Net income attributable to Valero stockholders from continuing operations			$	2,289			$	3,990			$	3,694
Less dividends paid:
Common stock			1,108				845				552
Participating securities			3				3				2
Undistributed earnings			$	1,178			$	3,142			$	3,140
Weighted-average common shares outstanding	1		461		2		497		2		526
Earnings per common share from continuing operations:
Distributed earnings	$	2.40	$	2.40	$	1.70	$	1.70	$	1.05	$	1.05
Undistributed earnings	2.54		2.54		6.30		6.30		5.95		5.95
Total earnings per common share from continuing operations	$	4.94	$	4.94	$	8.00	$	8.00	$	7.00	$	7.00
Earnings per common share from continuing operations – assuming dilution:
Net income attributable to Valero stockholders from continuing operations			$	2,289			$	3,990			$	3,694
Weighted-average common shares outstanding			461				497				526
Common equivalent shares:
Stock options			2				2				2
Performance awards and nonvested restricted stock			1				1				2
Weighted-average common shares outstanding – assuming dilution			464				500				530
Earnings per common share from continuing operations – assuming dilution			$	4.94			$	7.99			$	6.97