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