XML 66 R15.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Earnings Per Common Share | 9 Months Ended
--- | ---
Sep. 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 September 30,
| 2013 |  | 2012
| Restricted Stock |  | Common Stock |  | Restricted Stock |  | Common Stock
Earnings per common share: |  |  |  |  |  |  |
Net income attributable to Valero stockholders |  |  | $ | 312 |  |  |  |  | $ | 674 |
Less dividends paid: |  |  |  |  |  |  |
Common stock |  |  | 121 |  |  |  |  | 96 |
Nonvested restricted stock |  |  | 1 |  |  |  |  | 1 |
Undistributed earnings |  |  | $ | 190 |  |  |  |  | $ | 577 |
Weighted-average common shares outstanding | 3 |  |  | 540 |  |  | 3 |  |  | 549 |
Earnings per common share: |  |  |  |  |  |  |
Distributed earnings | $ | 0.23 |  |  | $ | 0.23 |  |  | $ | 0.18 |  |  | $ | 0.18 |
Undistributed earnings | 0.35 |  |  | 0.35 |  |  | 1.04 |  |  | 1.04 |
Total earnings per common share | $ | 0.58 |  |  | $ | 0.58 |  |  | $ | 1.22 |  |  | $ | 1.22 |
Earnings per common share – assuming dilution: |  |  |  |  |  |  |
Net income attributable to Valero stockholders |  |  | $ | 312 |  |  |  |  | $ | 674 |
Weighted-average common shares outstanding |  |  | 540 |  |  |  |  | 549 |
Common equivalent shares: |  |  |  |  |  |  |
Stock options |  |  | 3 |  |  |  |  | 4 |
Performance awards and nonvested restricted stock |  |  | 2 |  |  |  |  | 3 |
Weighted-average common shares outstanding – assuming dilution |  |  | 545 |  |  |  |  | 556 |
Earnings per common share – assuming dilution |  |  | $ | 0.57 |  |  |  |  | $ | 1.21 |
| Nine Months Ended September 30,
| 2013 |  | 2012
| Restricted Stock |  | Common Stock |  | Restricted Stock |  | Common Stock
Earnings per common share: |  |  |  |  |  |  |
Net income attributable to Valero stockholders |  |  | $ | 1,432 |  |  |  |  | $ | 1,073 |
Less dividends paid: |  |  |  |  |  |  |
Common stock |  |  | 340 |  |  |  |  | 261 |
Nonvested restricted stock |  |  | 2 |  |  |  |  | 2 |
Undistributed earnings |  |  | $ | 1,090 |  |  |  |  | $ | 810 |
Weighted-average common shares outstanding | 3 |  |  | 544 |  |  | 3 |  |  | 550 |
Earnings per common share: |  |  |  |  |  |  |
Distributed earnings | $ | 0.63 |  |  | $ | 0.63 |  |  | $ | 0.48 |  |  | $ | 0.48 |
Undistributed earnings | 1.99 |  |  | 1.99 |  |  | 1.46 |  |  | 1.46 |
Total earnings per common share | $ | 2.62 |  |  | $ | 2.62 |  |  | $ | 1.94 |  |  | $ | 1.94 |
Earnings per common share – assuming dilution: |  |  |  |  |  |  |
Net income attributable to Valero stockholders |  |  | $ | 1,432 |  |  |  |  | $ | 1,073 |
Weighted-average common shares outstanding |  |  | 544 |  |  |  |  | 550 |
Common equivalent shares: |  |  |  |  |  |  |
Stock options |  |  | 3 |  |  |  |  | 4 |
Performance awards and nonvested restricted stock |  |  | 2 |  |  |  |  | 2 |
Weighted-average common shares outstanding – assuming dilution |  |  | 549 |  |  |  |  | 556 |
Earnings per common share – assuming dilution |  |  | $ | 2.61 |  |  |  |  | $ | 1.93 |
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 September 30, |  | Nine Months Ended September 30,
| 2013 |  | 2012 |  | 2013 |  | 2012
Stock options | 3 |  |  | 5 |  |  | 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