XML 111 R15.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Earnings Per Common Share | 6 Months Ended
--- | ---
Jun. 30, 2013
Earnings Per Share [Abstract] |
EARNINGS PER COMMON SHARE |
9. | EARNINGS PER COMMON SHARE
Earnings per common share were computed as follows (dollars and shares in millions, except per share amounts):
| Three Months Ended June 30,
| 2013 |  | 2012
| Restricted Stock |  | Common Stock |  | Restricted Stock |  | Common Stock
Earnings per common share: |  |  |  |  |  |  |
Net income attributable to Valero stockholders |  |  | $ | 466 |  |  |  |  | $ | 831 |
Less dividends paid: |  |  |  |  |  |  |
Common stock |  |  | 109 |  |  |  |  | 82 |
Nonvested restricted stock |  |  | — |  |  |  |  | 1 |
Undistributed earnings |  |  | $ | 357 |  |  |  |  | $ | 748 |
Weighted-average common shares outstanding | 3 |  |  | 543 |  |  | 3 |  |  | 550 |
Earnings per common share: |  |  |  |  |  |  |
Distributed earnings | $ | 0.20 |  |  | $ | 0.20 |  |  | $ | 0.15 |  |  | $ | 0.15 |
Undistributed earnings | 0.66 |  |  | 0.66 |  |  | 1.35 |  |  | 1.35 |
Total earnings per common share | $ | 0.86 |  |  | $ | 0.86 |  |  | $ | 1.50 |  |  | $ | 1.50 |
Earnings per common share – assuming dilution: |  |  |  |  |  |  |
Net income attributable to Valero stockholders |  |  | $ | 466 |  |  |  |  | $ | 831 |
Weighted-average common shares outstanding |  |  | 543 |  |  |  |  | 550 |
Common equivalent shares: |  |  |  |  |  |  |
Stock options |  |  | 3 |  |  |  |  | 3 |
Performance awards and nonvested restricted stock |  |  | 2 |  |  |  |  | 2 |
Weighted-average common shares outstanding – assuming dilution |  |  | 548 |  |  |  |  | 555 |
Earnings per common share – assuming dilution |  |  | $ | 0.85 |  |  |  |  | $ | 1.50 |
| Six Months Ended June 30,
| 2013 |  | 2012
| Restricted Stock |  | Common Stock |  | Restricted Stock |  | Common Stock
Earnings per common share: |  |  |  |  |  |  |
Net income attributable to Valero stockholders |  |  | $ | 1,120 |  |  |  |  | $ | 399 |
Less dividends paid: |  |  |  |  |  |  |
Common stock |  |  | 219 |  |  |  |  | 165 |
Nonvested restricted stock |  |  | 1 |  |  |  |  | 1 |
Undistributed earnings |  |  | $ | 900 |  |  |  |  | $ | 233 |
Weighted-average common shares outstanding | 3 |  |  | 546 |  |  | 3 |  |  | 550 |
Earnings per common share: |  |  |  |  |  |  |
Distributed earnings | $ | 0.40 |  |  | $ | 0.40 |  |  | $ | 0.30 |  |  | $ | 0.30 |
Undistributed earnings | 1.64 |  |  | 1.64 |  |  | 0.42 |  |  | 0.42 |
Total earnings per common share | $ | 2.04 |  |  | $ | 2.04 |  |  | $ | 0.72 |  |  | $ | 0.72 |
Earnings per common share – assuming dilution: |  |  |  |  |  |  |
Net income attributable to Valero stockholders |  |  | $ | 1,120 |  |  |  |  | $ | 399 |
Weighted-average common shares outstanding |  |  | 546 |  |  |  |  | 550 |
Common equivalent shares: |  |  |  |  |  |  |
Stock options |  |  | 4 |  |  |  |  | 4 |
Performance awards and nonvested restricted stock |  |  | 2 |  |  |  |  | 2 |
Weighted-average common shares outstanding – assuming dilution |  |  | 552 |  |  |  |  | 556 |
Earnings per common share – assuming dilution |  |  | $ | 2.03 |  |  |  |  | $ | 0.72 |
The following table reflects potentially dilutive securities (in millions) that were excluded from the calculation of “earnings per common share – assuming dilution” as the effect of including such securities would have been antidilutive. Stock options were excluded from weighted-average common shares outstanding – assuming dilution because the exercise price of the stock option was greater than the average market price of our common shares during each reporting period.
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2013 |  | 2012 |  | 2013 |  | 2012
Stock options | 3 |  |  | 6 |  |  | 3 |  |  | 6 |

X
- Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=32703322&loc=d3e4984-109258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration