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Consolidated Statements of Income (Unaudited) (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Consolidated Statements of Income        
Operating revenues (a) $ 34,662 $ 31,293 $ 69,829 $ 57,601
Costs and expenses:        
Cost of sales 31,621 28,380 64,656 52,948
Operating expenses:        
Refining 868 813 1,832 1,557
Retail 170 169 336 331
Ethanol 85 104 172 199
General and administrative expenses 171 151 335 281
Depreciation and amortization expense 386 386 770 751
Asset impairment loss 0 0 611 0
Total costs and expenses 33,301 30,003 68,712 56,067
Operating income 1,361 1,290 1,117 1,534
Other income (expense), net (5) 10 1 27
Interest and debt expense, net of capitalized interest (74) (107) (173) (224)
Income from continuing operations before income tax expense 1,282 1,193 945 1,337
Income tax expense 452 449 547 489
Income from continuing operations 830 744 398 848
Loss from discontinued operations, net of income taxes 0 (1) 0 (7)
Net income 830 743 398 841
Less: Net loss attributable to noncontrolling interest (1) (1) (1) (1)
Net income attributable to Valero Energy Corporation stockholders 831 744 399 842
Net income attributable to Valero Energy Corporation stockholders:        
Continuing operations 831 745 399 849
Discontinued operations 0 (1) 0 (7)
Total 831 744 399 842
Earnings per common share:        
Continuing operations $ 1.50 $ 1.31 $ 0.72 $ 1.49
Discontinued operations $ 0.00 $ 0.00 $ 0.00 $ (0.01)
Total $ 1.50 $ 1.31 $ 0.72 $ 1.48
Weighted-average common shares outstanding (in millions) 550 567 550 567
Earnings per common share - assuming dilution:        
Continuing operations $ 1.50 $ 1.30 $ 0.72 $ 1.48
Discontinued operations $ 0.00 $ 0.00 $ 0.00 $ (0.01)
Total $ 1.50 $ 1.30 $ 0.72 $ 1.47
Weighted-average common shares outstanding - assuming dilution (in millions) 555 574 556 573
Dividends per common share $ 0.15 $ 0.05 $ 0.30 $ 0.10
Supplemental Information [Abstract]        
(a) Includes excise taxes on sales by our U.S. retail system $ 241 $ 227 $ 475 $ 441