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Earnings Per Common Share | 9 Months Ended
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Sep. 30, 2023
Earnings Per Share [Abstract] |
EARNINGS PER COMMON SHARE | 8. EARNINGS PER COMMON SHARE Earnings per common share was computed as follows (dollars and shares in millions, except per share amounts):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Earnings per common share: |  |  |  |  |  |  |
Net income attributable to Valero stockholders | $ | 2,622 |  |  | $ | 2,817 |  |  | $ | 7,633 |  |  | $ | 8,415 |
Less: Income allocated to participating securities | 8 |  |  | 11 |  |  | 24 |  |  | 31 |
Net income available to common stockholders | $ | 2,614 |  |  | $ | 2,806 |  |  | $ | 7,609 |  |  | $ | 8,384 |
Weighted-average common shares outstanding | 349 |  |  | 390 |  |  | 359 |  |  | 400 |
Earnings per common share | $ | 7.49 |  |  | $ | 7.20 |  |  | $ | 21.22 |  |  | $ | 20.94 |
Earnings per common share – assuming dilution: |  |  |  |  |  |  |
Net income attributable to Valero stockholders | $ | 2,622 |  |  | $ | 2,817 |  |  | $ | 7,633 |  |  | $ | 8,415 |
Less: Income allocated to participating securities | 8 |  |  | 11 |  |  | 24 |  |  | 31 |
Net income available to common stockholders | $ | 2,614 |  |  | $ | 2,806 |  |  | $ | 7,609 |  |  | $ | 8,384 |
Weighted-average common shares outstanding | 349 |  |  | 390 |  |  | 359 |  |  | 400 |
Effect of dilutive securities | — |  |  | — |  |  | — |  |  | 1 |
Weighted-average common shares outstanding – assuming dilution | 349 |  |  | 390 |  |  | 359 |  |  | 401 |
Earnings per common share – assuming dilution | $ | 7.49 |  |  | $ | 7.19 |  |  | $ | 21.21 |  |  | $ | 20.93 |
Participating securities include restricted stock and performance awards granted under our 2020 Omnibus Stock Incentive Plan (OSIP) or our 2011 OSIP. Dilutive securities include participating securities as well as outstanding stock options.

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