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Consolidated Statements of Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Operating revenues $ 25,118 $ 34,914 $ 46,448 $ 68,577
Costs and expenses:        
Cost of sales 21,394 32,167 39,557 62,797
Operating expenses:        
Refining 935 967 1,899 1,939
Ethanol 108 111 228 240
General and administrative expenses 178 170 325 330
Depreciation and amortization expense 425 414 866 835
Total costs and expenses 23,040 33,829 42,875 66,141
Operating income 2,078 1,085 3,573 2,436
Other income, net 8 12 32 27
Interest and debt expense, net of capitalized interest (113) (98) (214) (198)
Income from continuing operations before income tax expense 1,973 999 3,391 2,265
Income tax expense 608 343 1,058 772
Income from continuing operations 1,365 656 2,333 1,493
Loss from discontinued operations 0 (63) 0 (64)
Net income 1,365 593 2,333 1,429
Less: Net income attributable to noncontrolling interests 14 5 18 13
Net income attributable to Valero Energy Corporation stockholders 1,351 588 2,315 1,416
Net income attributable to Valero Energy Corporation stockholders:        
Continuing operations 1,351 651 2,315 1,480
Discontinued operations 0 (63) 0 (64)
Net income attributable to Valero Energy Corporation stockholders $ 1,351 $ 588 $ 2,315 $ 1,416
Earnings per common share:        
Continuing operations $ 2.67 $ 1.23 $ 4.53 $ 2.78
Discontinued operations 0.00 (0.12) 0.00 (0.12)
Total $ 2.67 $ 1.11 $ 4.53 $ 2.66
Weighted-average common shares outstanding (in millions) 505 529 509 530
Earnings per common share – assuming dilution:        
Continuing operations $ 2.66 $ 1.22 $ 4.52 $ 2.77
Discontinued operations 0.00 (0.12) 0.00 (0.12)
Total $ 2.66 $ 1.10 $ 4.52 $ 2.65
Weighted-average common shares outstanding – assuming dilution (in millions) 508 534 512 535
Dividends per common share $ 0.40 $ 0.25 $ 0.80 $ 0.50