Earnings (Loss) Per Common Share (Tables)

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Schedule of earnings (loss) per common share, basic and diluted

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

	Year Ended December 31,
	2020		2019		2018
Earnings (loss) per common share
Net income (loss) attributable to Valero stockholders	$	(1,421)	$	2,422	$	3,122
Less: Income allocated to participating securities	5		7		9
Net income (loss) available to common shareholders	$	(1,426)	$	2,415	$	3,113
Weighted-average common shares outstanding	407		413		426
Earnings (loss) per common share	$	(3.50)	$	5.84	$	7.30
Earnings (loss) per common share – assuming dilution
Net income (loss) attributable to Valero stockholders	$	(1,421)	$	2,422	$	3,122
Less: Income allocated to participating securities	5		7		9
Net income (loss) available to common shareholders	$	(1,426)	$	2,415	$	3,113
Weighted-average common shares outstanding	407		413		426
Effect of dilutive securities	—		1		2
Weighted-average common shares outstanding – assuming dilution	407		414		428
Earnings (loss) per common share – assuming dilution	$	(3.50)	$	5.84	$	7.29