Earnings Per Common Share (Tables)

6 Months Ended

Jun. 30, 2023

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Earnings per common share:
Net income attributable to Valero stockholders	$	1,944	$	4,693	$	5,011	$	5,598
Less: Income allocated to participating securities	6		17		16		20
Net income available to common stockholders	$	1,938	$	4,676	$	4,995	$	5,578

Weighted-average common shares outstanding	358		404		363		406

Earnings per common share	$	5.41	$	11.58	$	13.75	$	13.75

Earnings per common share – assuming dilution:
Net income attributable to Valero stockholders	$	1,944	$	4,693	$	5,011	$	5,598
Less: Income allocated to participating securities	6		17		16		20
Net income available to common stockholders	$	1,938	$	4,676	$	4,995	$	5,578

Weighted-average common shares outstanding	358		404		363		406
Effect of dilutive securities	—		—		—		—
Weighted-average common shares outstanding – assuming dilution	358		404		363		406

Earnings per common share – assuming dilution	$	5.40	$	11.57	$	13.74	$	13.74