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Earnings Per Common Share (Tables) | 9 Months Ended
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Sep. 30, 2014
Earnings Per Share [Abstract] |
Schedule of earnings per common share, basic and diluted | Earnings per common share were computed as follows (dollars and shares in millions, except per share amounts):
| Three Months Ended September 30,
| 2014 |  | 2013
| Restricted Stock |  | Common Stock |  | Restricted Stock |  | Common Stock
Earnings per common share from continuing operations: |  |  |  |  |  |  |
Net income attributable to Valero stockholders from continuing operations |  |  | $ | 1,059 |  |  |  |  | $ | 312 |
Less dividends paid: |  |  |  |  |  |  |
Common stock |  |  | 145 |  |  |  |  | 121 |
Nonvested restricted stock |  |  | — |  |  |  |  | 1 |
Undistributed earnings |  |  | $ | 914 |  |  |  |  | $ | 190 |
Weighted-average common shares outstanding | 2 |  |  | 526 |  |  | 3 |  |  | 540 |
Earnings per common share from continuing operations: |  |  |  |  |  |  |
Distributed earnings | $ | 0.28 |  |  | $ | 0.28 |  |  | $ | 0.23 |  |  | $ | 0.23 |
Undistributed earnings | 1.73 |  |  | 1.73 |  |  | 0.35 |  |  | 0.35 |
Total earnings per common share from continuing operations | $ | 2.01 |  |  | $ | 2.01 |  |  | $ | 0.58 |  |  | $ | 0.58 |
Earnings per common share from continuing operations – assuming dilution: |  |  |  |  |  |  |
Net income attributable to Valero stockholders from continuing operations |  |  | $ | 1,059 |  |  |  |  | $ | 312 |
Weighted-average common shares outstanding |  |  | 526 |  |  |  |  | 540 |
Common equivalent shares: |  |  |  |  |  |  |
Stock options |  |  | 2 |  |  |  |  | 3 |
Performance awards and nonvested restricted stock |  |  | 2 |  |  |  |  | 2 |
Weighted-average common shares outstanding – assuming dilution |  |  | 530 |  |  |  |  | 545 |
Earnings per common share from continuing operations – assuming dilution |  |  | $ | 2.00 |  |  |  |  | $ | 0.57 |
| Nine Months Ended September 30,
| 2014 |  | 2013
| Restricted Stock |  | Common Stock |  | Restricted Stock |  | Common Stock
Earnings per common share from continuing operations: |  |  |  |  |  |  |
Net income attributable to Valero stockholders from continuing operations |  |  | $ | 2,539 |  |  |  |  | $ | 1,426 |
Less dividends paid: |  |  |  |  |  |  |
Common stock |  |  | 410 |  |  |  |  | 340 |
Nonvested restricted stock |  |  | 1 |  |  |  |  | 2 |
Undistributed earnings |  |  | $ | 2,128 |  |  |  |  | $ | 1,084 |
Weighted-average common shares outstanding | 2 |  |  | 529 |  |  | 3 |  |  | 544 |
Earnings per common share from continuing operations: |  |  |  |  |  |  |
Distributed earnings | $ | 0.77 |  |  | $ | 0.77 |  |  | $ | 0.63 |  |  | $ | 0.63 |
Undistributed earnings | 4.01 |  |  | 4.01 |  |  | 1.98 |  |  | 1.98 |
Total earnings per common share from continuing operations | $ | 4.78 |  |  | $ | 4.78 |  |  | $ | 2.61 |  |  | $ | 2.61 |
Earnings per common share from continuing operations – assuming dilution: |  |  |  |  |  |  |
Net income attributable to Valero stockholders from continuing operations |  |  | $ | 2,539 |  |  |  |  | $ | 1,426 |
Weighted-average common shares outstanding |  |  | 529 |  |  |  |  | 544 |
Common equivalent shares: |  |  |  |  |  |  |
Stock options |  |  | 3 |  |  |  |  | 3 |
Performance awards and nonvested restricted stock |  |  | 1 |  |  |  |  | 2 |
Weighted-average common shares outstanding – assuming dilution |  |  | 533 |  |  |  |  | 549 |
Earnings per common share from continuing operations – assuming dilution |  |  | $ | 4.76 |  |  |  |  | $ | 2.60 |

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
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