Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

QUARTERLY FINANCIAL DATA (Unaudited)

22.

QUARTERLY FINANCIAL DATA (Unaudited)

The following tables summarize quarterly financial data for the years ended December 31, 2019 and 2018 (in millions, except per share amounts).

	2019 Quarter Ended
	March 31		June 30		September 30		December 31
Revenues	$	24,263	$	28,933	$	27,249	$	27,879
Gross profit (a)	533		1,123		1,119		2,003
Operating income	308		908		881		1,739
Net income	167		648		639		1,330
Net income attributable to Valero Energy Corporation stockholders	141		612		609		1,060
Earnings per common share	0.34		1.47		1.48		2.58
Earnings per common share – assuming dilution	0.34		1.47		1.48		2.58
	2018 Quarter Ended
	March 31		June 30		September 30		December 31
Revenues	$	26,439	$	31,015	$	30,849	$	28,730
Gross profit (a)	1,062		1,535		1,451		1,546
Operating income	801		1,253		1,219		1,299
Net income	582		875		874		1,022
Net income attributable to Valero Energy Corporation stockholders	469		845		856		952
Earnings per common share	1.09		1.96		2.01		2.26
Earnings per common share – assuming dilution	1.09		1.96		2.01		2.24

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(a)

Gross profit is calculated as revenues less total cost of sales.