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Consolidated Statements of Income (USD $)
In Millions, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Operating revenues (a) $ 125,987 $ 82,233 $ 64,599
Costs and expenses:      
Cost of sales 115,719 74,458 58,686
Operating expenses:      
Refining 3,406 2,944 2,880
Retail 678 654 626
Ethanol 399 363 169
General and administrative expenses 571 531 572
Depreciation and amortization expense 1,534 1,405 1,361
Asset impairment loss 0 2 222
Total costs and expenses 122,307 80,357 64,516
Operating income 3,680 1,876 83
Other income, net 43 106 17
Interest and debt expense, net of capitalized interest (401) (484) (416)
Income (loss) from continuing operations before income tax expense (benefit) 3,322 1,498 (316)
Income tax expense (benefit) 1,226 575 (43)
Income (loss) from continuing operations 2,096 923 (273)
Loss from discontinued operations, net of income taxes (7) (599) (1,709)
Net income (loss) 2,089 324 (1,982)
Less: Net loss attributable to noncontrolling interests (1) 0 0
Net income (loss) attributable to Valero Energy Corporation stockholders 2,090 324 (1,982)
Net income (loss) attributable to Valero Energy Corporation stockholders:      
Continuing operations 2,097 923 (273)
Discontinued operations (7) (599) (1,709)
Total 2,090 324 (1,982)
Earnings per common share:      
Continuing operations $ 3.7 $ 1.63 $ (0.5)
Discontinued operations $ (0.01) $ (1.06) $ (3.17)
Total $ 3.69 $ 0.57 $ (3.67)
Weighted-average common shares outstanding (in millions) 563 563 541
Earnings per common share – assuming dilution:      
Continuing operations $ 3.69 $ 1.62 $ (0.5)
Discontinued operations $ (0.01) $ (1.05) $ (3.17)
Total $ 3.68 $ 0.57 $ (3.67)
Weighted-average common shares outstanding - assuming dilution (in millions) 569 568 541
Dividends per common share $ 0.30 $ 0.2 $ 0.60
Supplemental information:      
(a) Includes excise taxes on sales by our U.S. retail system $ 892 $ 891 $ 873