Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2011

Quarterly Financial Data (Unaudited) [Abstract]

QUARTERLY FINANCIAL DATA (Unaudited)

22. QUARTERLY FINANCIAL DATA (Unaudited)

The following table summarizes quarterly financial data for the years ended December 31, 2011 and 2010 (in millions, except per share amounts).

	2011 Quarter Ended
	March 31			June 30		September 30 (a)		December 31 (b)
Operating revenues	$	26,308		$	31,293	$	33,713	$	34,673
Operating income	244			1,290		1,979		167
Income from continuing   operations	104			744		1,203		45
Net income	98			743		1,203		45
Net income attributable to Valero Energy Corporation  stockholders	98			744		1,203		45
Earnings per common share   from continuing operations –   assuming dilution	0.18			1.30		2.11		0.08
Earnings per common share –   assuming dilution	0.17			1.30		2.11		0.08
	2010 Quarter Ended
	March 31			June 30 (c)		September 30		December 31 (d)
Operating revenues	$	18,493		$	20,561	$	21,015	$	22,164
Operating income	4			904		590		378
Income (loss) from continuing   operations	(80		)	520		303		180
Net income (loss)	(113		)	583		292		(438		)
Net income (loss) attributable to Valero Energy Corporation  stockholders	(113		)	583		292		(438		)
Earnings per common share   from continuing operations –   assuming dilution	(0.14		)	0.92		0.53		0.32
Earnings per common share –   assuming dilution	(0.20		)	1.03		0.51		(0.77		)

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(a) Includes the operations related to the Pembroke Acquisition beginning August 1, 2011.

(b) Includes the operations related to the Meraux Acquisition beginning October 1, 2011.

(c) Net income for the quarter ended June 30, 2010 includes the $92 million pre-tax gain related to the sale of the Delaware City Refinery as discussed in Note 3.

(d) Net loss for the quarter ended December 31, 2010 includes the $980 million pre-tax loss related to the sale of the Paulsboro Refinery as discussed in Note 3.