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Consolidated Statements of Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Operating revenues $ 22,579 $ 34,408 $ 69,027 $ 102,985
Costs and expenses:        
Cost of sales 18,677 31,023 58,234 93,820
Operating expenses:        
Refining 986 987 2,885 2,926
Ethanol 116 118 344 358
General and administrative expenses 179 180 504 510
Depreciation and amortization expense 482 430 1,348 1,265
Total costs and expenses 20,440 32,738 63,315 98,879
Operating income 2,139 1,670 5,712 4,106
Other income, net 3 11 35 38
Interest and debt expense, net of capitalized interest (112) (98) (326) (296)
Income from continuing operations before income tax expense 2,030 1,583 5,421 3,848
Income tax expense 657 521 1,715 1,293
Income from continuing operations 1,373 1,062 3,706 2,555
Loss from discontinued operations 0 0 0 (64)
Net income 1,373 1,062 3,706 2,491
Less: Net income (loss) attributable to noncontrolling interests (4) 3 14 16
Net income attributable to Valero Energy Corporation stockholders 1,377 1,059 3,692 2,475
Net income attributable to Valero Energy Corporation stockholders:        
Continuing operations 1,377 1,059 3,692 2,539
Discontinued operations 0 0 0 (64)
Net income attributable to Valero Energy Corporation stockholders $ 1,377 $ 1,059 $ 3,692 $ 2,475
Earnings per common share:        
Continuing operations $ 2.79 $ 2.01 $ 7.31 $ 4.78
Discontinued operations 0.00 0.00 0.00 (0.12)
Total $ 2.79 $ 2.01 $ 7.31 $ 4.66
Weighted-average common shares outstanding (in millions) 491 526 503 529
Earnings per common share – assuming dilution:        
Continuing operations $ 2.79 $ 2.00 $ 7.30 $ 4.76
Discontinued operations 0.00 0.00 0.00 (0.12)
Total $ 2.79 $ 2.00 $ 7.30 $ 4.64
Weighted-average common shares outstanding – assuming dilution (in millions) 494 530 506 533
Dividends per common share $ 0.400 $ 0.275 $ 1.200 $ 0.775