Earnings (Loss) Per Common Share (Tables)

9 Months Ended

Sep. 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 September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Earnings (loss) per common share
Net income (loss) attributable to Valero stockholders	$	(464)	$	609	$	(1,062)	$	1,362
Less: Income allocated to participating securities	1		1		4		3
Net income (loss) available to common stockholders	$	(465)	$	608	$	(1,066)	$	1,359
Weighted-average common shares outstanding	407		412		407		415
Earnings (loss) per common share	$	(1.14)	$	1.48	$	(2.62)	$	3.28
Earnings (loss) per common share – assuming dilution
Net income (loss) attributable to Valero stockholders	$	(464)	$	609	$	(1,062)	$	1,362
Less: Income allocated to participating securities	1		1		4		3
Net income (loss) available to common stockholders	$	(465)	$	608	$	(1,066)	$	1,359
Weighted-average common shares outstanding	407		412		407		415
Effect of dilutive securities	—		1		—		1
Weighted-average common shares outstanding – assuming dilution	407		413		407		416
Earnings (loss) per common share – assuming dilution	$	(1.14)	$	1.48	$	(2.62)	$	3.28