Earnings (Loss) Per Common Share (Tables)

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Schedule of earnings (loss) per common share, basic and diluted

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

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020			2019
Earnings (loss) per common share
Net income (loss) attributable to Valero stockholders	$	1,253	$	612	$	(598	)	$	753
Less: Income allocated to participating securities	4		2		3			2
Net income (loss) available to common stockholders	$	1,249	$	610	$	(601	)	$	751
Weighted-average common shares outstanding	406		415		407			416
Earnings (loss) per common share	$	3.07	$	1.47	$	(1.48	)	$	1.80
Earnings (loss) per common share – assuming dilution
Net income (loss) attributable to Valero stockholders	$	1,253	$	612	$	(598	)	$	753
Less: Income allocated to participating securities	4		2		3			2
Net income (loss) available to common stockholders	$	1,249	$	610	$	(601	)	$	751
Weighted-average common shares outstanding	406		415		407			416
Effect of dilutive securities	1		2		—			1
Weighted-average common shares outstanding – assuming dilution	407		417		407			417
Earnings (loss) per common share – assuming dilution	$	3.07	$	1.47	$	(1.48	)	$	1.80