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Consolidated Statements of Income (USD $)
In Millions, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Consolidated Statements of Income      
Operating revenues $ 138,074 $ 139,250 $ 125,987
Costs and expenses:      
Cost of sales 127,316 127,268 115,719
Operating expenses:      
Refining 3,704 3,668 3,406
Retail 226 686 678
Ethanol 387 332 399
General and administrative expenses 758 698 571
Depreciation and amortization expense 1,720 1,574 1,534
Asset impairment losses 0 1,014 0
Total costs and expenses 134,111 135,240 122,307
Operating income 3,963 4,010 3,680
Gain on disposition of retained interest in CST Brands, Inc. 325 0 0
Other income, net 59 9 43
Interest and debt expense, net of capitalized interest (365) (313) (401)
Income from continuing operations before income tax expense 3,982 3,706 3,322
Income tax expense 1,254 1,626 1,226
Income from continuing operations 2,728 2,080 2,096
Loss from discontinued operations, net of income taxes 0 0 (7)
Net income 2,728 2,080 2,089
Less: Net income (loss) attributable to noncontrolling interests 8 (3) (1)
Net income attributable to Valero Energy Corporation stockholders 2,720 2,083 2,090
Net income attributable to Valero Energy Corporation stockholders:      
Continuing operations 2,720 2,083 2,097
Discontinued operations 0 0 (7)
Net income attributable to Valero Energy Corporation stockholders $ 2,720 $ 2,083 $ 2,090
Earnings per common share:      
Continuing operations $ 4.99 $ 3.77 $ 3.70
Discontinued operations $ 0.00 $ 0.00 $ (0.01)
Total $ 4.99 $ 3.77 $ 3.69
Weighted-average common shares outstanding (in millions) 542 550 563
Earnings per common share – assuming dilution:      
Continuing operations $ 4.97 $ 3.75 $ 3.69
Discontinued operations $ 0.00 $ 0.00 $ (0.01)
Total $ 4.97 $ 3.75 $ 3.68
Weighted-average common shares outstanding – assuming dilution (in millions) 548 556 569
Dividends per common share $ 0.85 $ 0.65 $ 0.30