Consolidated Statements of Income (unaudited) - USD ($) shares in Millions, $ in Millions		3 Months Ended
		Mar. 31, 2023	Mar. 31, 2022
Revenues	[1]	$ 36,439	$ 38,542
Cost of sales:
Cost of materials and other	[2]	30,005	34,949
Operating expenses (excluding depreciation and amortization expense reflected below)		1,477	1,379
Depreciation and amortization expense		650	595
Total cost of sales		32,132	36,923
Other operating expenses		10	19
General and administrative expenses (excluding depreciation and amortization expense reflected below)		244	205
Depreciation and amortization expense		10	11
Operating income		4,043	1,384
Other income (expense), net		129	(20)
Interest and debt expense, net of capitalized interest		(146)	(145)
Income before income tax expense		4,026	1,219
Income tax expense		880	252
Net income		3,146	967
Less: Net income attributable to noncontrolling interests		79	62
Net income attributable to Valero Energy Corporation stockholders		$ 3,067	$ 905
Earnings (loss) per common share (in dollars per share)		$ 8.30	$ 2.21
Weighted-average common shares outstanding (in shares)		369	408
Earnings (loss) per common share – assuming dilution (in dollars per share)		$ 8.29	$ 2.21
Weighted-average common shares outstanding – assuming dilution (in shares)		369	408
Supplemental information:
Includes excise taxes on sales by certain of our foreign operations		$ 1,422	$ 1,423

[1] Includes excise taxes on sales by certain of our foreign operations of $1,422 million and $1,423 million for the three months ended March 31, 2023 and 2022, respectively.

[2] Cost of materials and other for our Renewable Diesel segment is net of the blender’s tax credit on qualified fuel mixtures of $246 million and $156 million for the three months ended March 31, 2023 and 2022, respectively.