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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, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Operating revenues $ 34,914 $ 34,034 $ 68,577 $ 67,508
Costs and expenses:        
Cost of sales 32,167 31,523 62,797 62,208
Operating expenses:        
Refining 967 909 1,939 1,788
Retail 0 57 0 226
Ethanol 111 102 240 179
General and administrative expenses 170 233 330 409
Depreciation and amortization expense 414 405 835 835
Total costs and expenses 33,829 33,229 66,141 65,645
Operating income 1,085 805 2,436 1,863
Other income, net 12 11 27 25
Interest and debt expense, net of capitalized interest (98) (78) (198) (161)
Income from continuing operations before income tax expense 999 738 2,265 1,727
Income tax expense 343 276 772 616
Income from continuing operations 656 462 1,493 1,111
Income (loss) from discontinued operations (63) 3 (64) 6
Net income 593 465 1,429 1,117
Less: Net income (loss) attributable to noncontrolling interests 5 (1) 13 (3)
Net income attributable to Valero Energy Corporation stockholders 588 466 1,416 1,120
Net income attributable to Valero Energy Corporation stockholders:        
Continuing operations 651 463 1,480 1,114
Discontinued operations (63) 3 (64) 6
Net income attributable to Valero Energy Corporation stockholders $ 588 $ 466 $ 1,416 $ 1,120
Earnings per common share:        
Continuing operations $ 1.23 $ 0.85 $ 2.78 $ 2.03
Discontinued operations $ (0.12) $ 0.01 $ (0.12) $ 0.01
Total $ 1.11 $ 0.86 $ 2.66 $ 2.04
Weighted-average common shares outstanding (in millions) 529 543 530 546
Earnings per common share – assuming dilution:        
Continuing operations $ 1.22 $ 0.84 $ 2.77 $ 2.02
Discontinued operations $ (0.12) $ 0.01 $ (0.12) $ 0.01
Total $ 1.10 $ 0.85 $ 2.65 $ 2.03
Weighted-average common shares outstanding – assuming dilution (in millions) 534 548 535 552
Dividends per common share $ 0.25 $ 0.20 $ 0.50 $ 0.40