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Consolidated Statements of Income (Unaudited) (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Operating revenues $ 36,137 $ 34,726 $ 103,645 $ 104,555
Costs and expenses:        
Cost of sales 33,931 31,312 96,139 95,968
Operating expenses:        
Refining 954 930 2,736 2,762
Retail 0 178 226 514
Ethanol 102 76 281 248
General and administrative expenses 170 174 579 509
Depreciation and amortization expense 448 402 1,283 1,172
Asset impairment losses 0 345 0 956
Total costs and expenses 35,605 33,417 101,244 102,129
Operating income 532 1,309 2,401 2,426
Other income (expense), net 17 (2) 42 (1)
Interest and debt expense, net of capitalized interest (102) (70) (263) (243)
Income before income tax expense 447 1,237 2,180 2,182
Income tax expense 123 564 739 1,111
Net income 324 673 1,441 1,071
Less: Net income (loss) attributable to noncontrolling interests 12 (1) 9 (2)
Net income attributable to Valero Energy Corporation stockholders $ 312 $ 674 $ 1,432 $ 1,073
Earnings per common share $ 0.58 $ 1.22 $ 2.62 $ 1.94
Weighted-average common shares outstanding (in millions) 540 549 544 550
Earnings per common share – assuming dilution $ 0.57 $ 1.21 $ 2.61 $ 1.93
Weighted-average common shares outstanding – assuming dilution (in millions) 545 556 549 556
Dividends per common share $ 0.225 $ 0.175 $ 0.625 $ 0.475