Earnings Per Common Share (Tables)

3 Months Ended

Mar. 31, 2016

Earnings Per Share [Abstract]

Schedule of earnings per common share, basic and diluted

Earnings per common share were computed as follows (dollars and shares in millions, except per share amounts):

	Three Months Ended March 31,
	2016				2015
	Participating Securities		Common Stock		Participating Securities		Common Stock
Earnings per common share:
Net income attributable to Valero stockholders			$	495			$	964
Less dividends paid:
Common stock			281				205
Participating securities			1				1
Undistributed earnings			$	213			$	758
Weighted-average common shares outstanding	2		469		2		513
Earnings per common share:
Distributed earnings	$	0.60	$	0.60	$	0.40	$	0.40
Undistributed earnings	0.45		0.45		1.47		1.47
Total earnings per common share	$	1.05	$	1.05	$	1.87	$	1.87
Earnings per common share – assuming dilution:
Net income attributable to Valero stockholders			$	495			$	964
Weighted-average common shares outstanding			469				513
Common equivalent shares:
Stock options			1				2
Performance awards and nonvested restricted stock			1				1
Weighted-average common shares outstanding – assuming dilution			471				516
Earnings per common share – assuming dilution			$	1.05			$	1.87