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Earnings Per Common Share | 3 Months Ended
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Mar. 31, 2016
Earnings Per Share [Abstract] |
EARNINGS PER COMMON SHARE |
7. | EARNINGS PER COMMON SHARE
Earnings per common share were computed as follows (dollars and shares in millions, except per share amounts):
| Three Months Ended March 31,
| 2016 |  | 2015
| Participating Securities |  | Common Stock |  | Participating Securities |  | Common Stock
Earnings per common share: |  |  |  |  |  |  |
Net income attributable to Valero stockholders |  |  | $ | 495 |  |  |  |  | $ | 964 |
Less dividends paid: |  |  |  |  |  |  |
Common stock |  |  | 281 |  |  |  |  | 205 |
Participating securities |  |  | 1 |  |  |  |  | 1 |
Undistributed earnings |  |  | $ | 213 |  |  |  |  | $ | 758 |
Weighted-average common shares outstanding | 2 |  |  | 469 |  |  | 2 |  |  | 513 |
Earnings per common share: |  |  |  |  |  |  |
Distributed earnings | $ | 0.60 |  |  | $ | 0.60 |  |  | $ | 0.40 |  |  | $ | 0.40 |
Undistributed earnings | 0.45 |  |  | 0.45 |  |  | 1.47 |  |  | 1.47 |
Total earnings per common share | $ | 1.05 |  |  | $ | 1.05 |  |  | $ | 1.87 |  |  | $ | 1.87 |
Earnings per common share – assuming dilution: |  |  |  |  |  |  |
Net income attributable to Valero stockholders |  |  | $ | 495 |  |  |  |  | $ | 964 |
Weighted-average common shares outstanding |  |  | 469 |  |  |  |  | 513 |
Common equivalent shares: |  |  |  |  |  |  |
Stock options |  |  | 1 |  |  |  |  | 2 |
Performance awards and nonvested restricted stock |  |  | 1 |  |  |  |  | 1 |
Weighted-average common shares outstanding – assuming dilution |  |  | 471 |  |  |  |  | 516 |
Earnings per common share – assuming dilution |  |  | $ | 1.05 |  |  |  |  | $ | 1.87 |
Participating securities include restricted stock and performance awards granted under our 2011 Omnibus Stock Incentive Plan.

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