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Consolidated Statements of Income (USD $)
In Millions, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Consolidated Statements of Income      
Operating revenues (a) $ 139,250 $ 125,987 $ 82,233
Costs and expenses:      
Cost of sales 127,268 115,719 74,458
Operating expenses:      
Refining 3,668 3,406 2,944
Retail 686 678 654
Ethanol 332 399 363
General and administrative expenses 698 571 531
Depreciation and amortization expense 1,574 1,534 1,405
Asset impairment losses 1,014 0 2
Total costs and expenses 135,240 122,307 80,357
Operating income 4,010 3,680 1,876
Other income, net 9 43 106
Interest and debt expense, net of capitalized interest (313) (401) (484)
Income from continuing operations before income tax expense 3,706 3,322 1,498
Income tax expense 1,626 1,226 575
Income from continuing operations 2,080 2,096 923
Loss from discontinued operations, net of income taxes 0 (7) (599)
Net income 2,080 2,089 324
Less: Net loss attributable to noncontrolling interest (3) (1) 0
Net income attributable to Valero Energy Corporation stockholders 2,083 2,090 324
Net income attributable to Valero Energy Corporation stockholders:      
Continuing operations 2,083 2,097 923
Discontinued operations 0 (7) (599)
Net income attributable to Valero Energy Corporation stockholders 2,083 2,090 324
Earnings per common share:      
Continuing operations $ 3.77 $ 3.70 $ 1.63
Discontinued operations $ 0.00 $ (0.01) $ (1.06)
Total $ 3.77 $ 3.69 $ 0.57
Weighted-average common shares outstanding (in millions) 550 563 563
Earnings per common share – assuming dilution:      
Continuing operations $ 3.75 $ 3.69 $ 1.62
Discontinued operations $ 0.00 $ (0.01) $ (1.05)
Total $ 3.75 $ 3.68 $ 0.57
Weighted-average common shares outstanding – assuming dilution (in millions) 556 569 568
Dividends per common share $ 0.65 $ 0.30 $ 0.20
Supplemental information:      
(a) Includes excise taxes on sales by our U.S. retail system $ 964 $ 892 $ 891