Earnings Per Common Share (Tables)

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Schedule of earnings per common share, basic and diluted

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Earnings per common share:
Net income attributable to Valero stockholders	$	2,622	$	2,817	$	7,633	$	8,415
Less: Income allocated to participating securities	8		11		24		31
Net income available to common stockholders	$	2,614	$	2,806	$	7,609	$	8,384
Weighted-average common shares outstanding	349		390		359		400
Earnings per common share	$	7.49	$	7.20	$	21.22	$	20.94
Earnings per common share – assuming dilution:
Net income attributable to Valero stockholders	$	2,622	$	2,817	$	7,633	$	8,415
Less: Income allocated to participating securities	8		11		24		31
Net income available to common stockholders	$	2,614	$	2,806	$	7,609	$	8,384
Weighted-average common shares outstanding	349		390		359		400
Effect of dilutive securities	—		—		—		1
Weighted-average common shares outstanding – assuming dilution	349		390		359		401
Earnings per common share – assuming dilution	$	7.49	$	7.19	$	21.21	$	20.93