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Consolidated Statements of Income (unaudited) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenues [1] $ 44,476 $ 29,889 $ 76,857 $ 60,147
Cost of sales:        
Cost of materials and other 35,130 24,678 61,315 50,726
Taxes other than income taxes 1,648 1,654 3,369 3,154
Operating expenses (excluding depreciation and amortization expense reflected below) 1,506 1,522 3,101 3,045
Depreciation and amortization expense 723 786 1,551 1,466
Total cost of sales 39,007 28,640 69,336 58,391
Asset impairment loss 0 0 0 1,131
Other operating expenses 26 4 50 8
General and administrative expenses (excluding depreciation and amortization expense reflected below) 233 220 518 481
Depreciation and amortization expense 14 28 26 39
Operating income 5,196 997 6,927 97
Other income, net 116 86 248 206
Interest and debt expense, net of capitalized interest (145) (141) (285) (278)
Income before income tax expense 5,167 942 6,890 25
Income tax expense 1,094 279 1,495 14
Net income 4,073 663 5,395 11
Less: Net income (loss) attributable to noncontrolling interests 353 (51) 412 (108)
Net income attributable to Valero Energy Corporation stockholders $ 3,720 $ 714 $ 4,983 $ 119
Earnings per common share (in dollars per share) $ 12.62 $ 2.28 $ 16.79 $ 0.37
Weighted-average common shares outstanding (in shares) 294 312 296 313
Earnings per common share – assuming dilution (in dollars per share) $ 12.62 $ 2.28 $ 16.78 $ 0.37
Weighted-average common shares outstanding – assuming dilution (in shares) 294 312 296 313
Supplemental information:        
Includes excise taxes on sales by certain of our foreign operations $ 1,660 $ 1,662 $ 3,385 $ 3,166
[1]
Includes excise taxes on sales by certain of our foreign operations of $1,660 million and $1,662 million for the three months ended June 30, 2026 and 2025, respectively, and $3,385 million and $3,166 million for the six months ended June 30, 2026 and 2025, respectively.