Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2018

The following tables summarize quarterly financial data for the years ended December 31, 2018 and 2017 (in millions, except per share amounts).



	2018 Quarter Ended
	March 31		June 30		September 30		December 31
Revenues	$	26,439	$	31,015	$	30,849	$	28,730
Gross profit (a)	1,062		1,535		1,451		1,546
Operating income	801		1,253		1,219		1,299
Net income	582		875		874		1,022
Net income attributable to Valero Energy Corporation stockholders	469		845		856		952
Earnings per common share	1.09		1.96		2.01		2.26
Earnings per common share – assuming dilution	1.09		1.96		2.01		2.24

	2017 Quarter Ended
	March 31		June 30		September 30		December 31 (b)
Revenues	$	21,772	$	22,254	$	23,562	$	26,392
Gross profit (a)	732		1,049		1,614		1,110
Operating income	528		860		1,332		843
Net income	321		572		863		2,400
Net income attributable to Valero Energy Corporation stockholders	305		548		841		2,371
Earnings per common share	0.68		1.23		1.91		5.43
Earnings per common share – assuming dilution	0.68		1.23		1.91		5.42

^{___________________________}


(a)	Gross profit is calculated as revenues less total cost of sales.


(b)	During the quarter ended December 31, 2017, we recognized an income tax benefit of $1.9 billion related to Tax Reform as described in Note 15.