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Earnings (Loss) Per Common Share | 12 Months Ended
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Dec. 31, 2021
Earnings Per Share [Abstract] |
EARNINGS (LOSS) PER COMMON SHARE | 17. EARNINGS (LOSS) PER COMMON SHARE Earnings (loss) per common share was computed as follows (dollars and shares in millions, except per share amounts):
| Year Ended December 31,
| 2021 |  | 2020 |  | 2019
Earnings (loss) per common share: |  |  |  |  |
Net income (loss) attributable to Valero stockholders | $ | 930 |  |  | $ | (1,421) |  |  | $ | 2,422 |
Less: Income allocated to participating securities | 6 |  |  | 5 |  |  | 7 |
Net income (loss) available to common stockholders | $ | 924 |  |  | $ | (1,426) |  |  | $ | 2,415 |
Weighted-average common shares outstanding | 407 |  |  | 407 |  |  | 413 |
Earnings (loss) per common share | $ | 2.27 |  |  | $ | (3.50) |  |  | $ | 5.84 |
Earnings (loss) per common share – assuming dilution: |  |  |  |  |
Net income (loss) attributable to Valero stockholders | $ | 930 |  |  | $ | (1,421) |  |  | $ | 2,422 |
Less: Income allocated to participating securities | 6 |  |  | 5 |  |  | 7 |
Net income (loss) available to common stockholders | $ | 924 |  |  | $ | (1,426) |  |  | $ | 2,415 |
Weighted-average common shares outstanding | 407 |  |  | 407 |  |  | 413 |
Effect of dilutive securities | — |  |  | — |  |  | 1 |
Weighted-average common shares outstanding – assuming dilution | 407 |  |  | 407 |  |  | 414 |
Earnings (loss) per common share – assuming dilution | $ | 2.27 |  |  | $ | (3.50) |  |  | $ | 5.84 |
Participating securities include restricted stock and performance awards granted under our 2020 OSIP or our 2011 OSIP. Dilutive securities include participating securities as well as outstanding stock options.

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