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Earnings (Loss) Per Common Share | 9 Months Ended
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Sep. 30, 2020
Earnings Per Share [Abstract] |
EARNINGS (LOSS) PER COMMON SHARE | 11. EARNINGS (LOSS) PER COMMON SHARE Earnings (loss) per common share were computed as follows (dollars and shares in millions, except per share amounts):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2020 |  | 2019 |  | 2020 |  | 2019
Earnings (loss) per common share |  |  |  |  |  |  |
Net income (loss) attributable to Valero stockholders | $ | (464) |  |  | $ | 609 |  |  | $ | (1,062) |  |  | $ | 1,362 |
Less: Income allocated to participating securities | 1 |  |  | 1 |  |  | 4 |  |  | 3 |
Net income (loss) available to common stockholders | $ | (465) |  |  | $ | 608 |  |  | $ | (1,066) |  |  | $ | 1,359 |
Weighted-average common shares outstanding | 407 |  |  | 412 |  |  | 407 |  |  | 415 |
Earnings (loss) per common share | $ | (1.14) |  |  | $ | 1.48 |  |  | $ | (2.62) |  |  | $ | 3.28 |
Earnings (loss) per common share – assuming dilution |  |  |  |  |  |  |
Net income (loss) attributable to Valero stockholders | $ | (464) |  |  | $ | 609 |  |  | $ | (1,062) |  |  | $ | 1,362 |
Less: Income allocated to participating securities | 1 |  |  | 1 |  |  | 4 |  |  | 3 |
Net income (loss) available to common stockholders | $ | (465) |  |  | $ | 608 |  |  | $ | (1,066) |  |  | $ | 1,359 |
Weighted-average common shares outstanding | 407 |  |  | 412 |  |  | 407 |  |  | 415 |
Effect of dilutive securities | — |  |  | 1 |  |  | — |  |  | 1 |
Weighted-average common shares outstanding – assuming dilution | 407 |  |  | 413 |  |  | 407 |  |  | 416 |
Earnings (loss) per common share – assuming dilution | $ | (1.14) |  |  | $ | 1.48 |  |  | $ | (2.62) |  |  | $ | 3.28 |
Participating securities include restricted stock and performance awards granted under our 2020 Omnibus Stock Incentive Plan (2020 OSIP) or our 2011 Omnibus Stock Incentive Plan (2011 OSIP). Dilutive securities include participating securities as well as outstanding stock options granted under our 2020 OSIP or our 2011 OSIP. On April 30, 2020, our stockholders approved the 2020 OSIP.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3630-109257 + Details
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