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Consolidated Statements of Income (Unaudited) (USD $)
In Millions, except Per Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Consolidated Statements of Income        
Operating revenues (a) $ 31,293 $ 20,561 $ 57,601 $ 39,054
Costs and expenses:        
Cost of sales 28,380 18,227 52,948 35,283
Operating expenses:        
Refining 813 693 1,557 1,457
Retail 169 163 331 315
Ethanol 104 91 199 171
General and administrative expenses 151 131 281 228
Depreciation and amortization expense 386 350 751 690
Asset impairment loss 0 2 0 2
Total costs and expenses 30,003 19,657 56,067 38,146
Operating income 1,290 904 1,534 908
Other income, net 10 1 27 12
Interest and debt expense, net of capitalized interest (107) (117) (224) (244)
Income from continuing operations before income tax expense 1,193 788 1,337 676
Income tax expense 449 268 489 236
Income from continuing operations 744 520 848 440
Income (loss) from discontinued operations, net of income taxes (1) 63 (7) 30
Net income 743 583 841 470
Less: Net loss attributable to noncontrolling interest (1) 0 (1) 0
Net income attributable to Valero Energy Corporation stockholders 744 583 842 470
Net income attributable to Valero Energy Corporation stockholders:        
Continuing operations 745 520 849 440
Discontinued operations (1) 63 (7) 30
Total 744 583 842 470
Earnings per common share:        
Continuing operations $ 1.31 $ 0.92 $ 1.49 $ 0.78
Discontinued operations $ 0.00 $ 0.11 $ (0.01) $ 0.05
Total $ 1.31 $ 1.03 $ 1.48 $ 0.83
Weighted-average common shares outstanding (in millions) 567 563 567 563
Earnings per common share - assuming dilution:        
Continuing operations $ 1.3 $ 0.92 $ 1.48 $ 0.78
Discontinued operations $ 0.00 $ 0.11 $ (0.01) $ 0.05
Total $ 1.3 $ 1.03 $ 1.47 $ 0.83
Weighted-average common shares outstanding - assuming dilution (in millions) 574 567 573 567
Dividends per common share $ 0.05 $ 0.05 $ 0.10 $ 0.10
Supplemental Information [Abstract]        
(a) Includes excise taxes on sales by our U.S. retail system $ 227 $ 225 $ 441 $ 433