Earnings Per Common Share (Tables)

12 Months Ended

Dec. 31, 2023

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


	Year Ended December 31,
	2023		2022		2021
Earnings per common share:
Net income attributable to Valero stockholders	$	8,835	$	11,528	$	930
Less: Income allocated to participating securities	27		43		6
Net income available to common stockholders	$	8,808	$	11,485	$	924

Weighted-average common shares outstanding	353		395		407

Earnings per common share	$	24.93	$	29.05	$	2.27

Earnings per common share – assuming dilution:
Net income attributable to Valero stockholders	$	8,835	$	11,528	$	930
Less: Income allocated to participating securities	27		43		6
Net income available to common stockholders	$	8,808	$	11,485	$	924

Weighted-average common shares outstanding	353		395		407
Effect of dilutive securities	—		1		—
Weighted-average common shares outstanding – assuming dilution	353		396		407

Earnings per common share – assuming dilution	$	24.92	$	29.04	$	2.27