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Consolidated Statements of Income (Unaudited) (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Operating revenues $ 34,408 $ 36,137 $ 102,985 $ 103,645
Costs and expenses:        
Cost of sales 31,023 33,931 93,820 96,139
Operating expenses:        
Refining 987 954 2,926 2,742
Retail 0 0 0 226
Ethanol 118 102 358 281
General and administrative expenses 180 170 510 579
Depreciation and amortization expense 430 448 1,265 1,283
Total costs and expenses 32,738 35,605 98,879 101,250
Operating income 1,670 532 4,106 2,395
Other income, net 11 17 38 42
Interest and debt expense, net of capitalized interest (98) (102) (296) (263)
Income from continuing operations before income tax expense 1,583 447 3,848 2,174
Income tax expense 521 123 1,293 739
Income from continuing operations 1,062 324 2,555 1,435
Income (loss) from discontinued operations 0 0 (64) 6
Net income 1,062 324 2,491 1,441
Less: Net income attributable to noncontrolling interests 3 12 16 9
Net income attributable to Valero Energy Corporation stockholders 1,059 312 2,475 1,432
Net income attributable to Valero Energy Corporation stockholders:        
Continuing operations 1,059 312 2,539 1,426
Discontinued operations 0 0 (64) 6
Net income attributable to Valero Energy Corporation stockholders $ 1,059 $ 312 $ 2,475 $ 1,432
Earnings per common share:        
Continuing operations $ 2.01 $ 0.58 $ 4.78 $ 2.61
Discontinued operations $ 0.00 $ 0.00 $ (0.12) $ 0.01
Total $ 2.01 $ 0.58 $ 4.66 $ 2.62
Weighted-average common shares outstanding (in millions) 526 540 529 544
Earnings per common share – assuming dilution:        
Continuing operations $ 2.00 $ 0.57 $ 4.76 $ 2.60
Discontinued operations $ 0.00 $ 0.00 $ (0.12) $ 0.01
Total $ 2.00 $ 0.57 $ 4.64 $ 2.61
Weighted-average common shares outstanding – assuming dilution (in millions) 530 545 533 549
Dividends per common share $ 0.275 $ 0.225 $ 0.775 $ 0.625