Earnings Per Common Share (Tables)

9 Months Ended

Sep. 30, 2019

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



	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
Earnings per common share:
Net income attributable to Valero stockholders	$	609	$	856	$	1,362	$	2,170
Less income allocated to participating securities	1		2		3		6
Net income available to common stockholders	$	608	$	854	$	1,359	$	2,164

Weighted-average common shares outstanding	412		425		415		428

Earnings per common share	$	1.48	$	2.01	$	3.28	$	5.05

Earnings per common share – assuming dilution:
Net income attributable to Valero stockholders	$	609	$	856	$	1,362	$	2,170

Weighted-average common shares outstanding	412		425		415		428
Effect of dilutive securities	1		2		1		2
Weighted-average common shares outstanding – assuming dilution	413		427		416		430

Earnings per common share – assuming dilution	$	1.48	$	2.01	$	3.28	$	5.05