The following is a reconciliation of the beginning and ending balances (in millions) of equity attributable to our stockholders, equity attributable to the noncontrolling interest, and total equity for the six months ended June 30, 2011 and 2010:



	2011									2010
	Valero Stockholders’ Equity			Non- controlling Interest			Total Equity			Valero Stockholders’ Equity			Non- controlling Interest		Total Equity
Balance at beginning of period	$	15,025		$	—		$	15,025		$	14,725		$	—	$	14,725
Net income (loss)	842			(1		)	841			470			—		470
Dividends	(57		)	—			(57		)	(57		)	—		(57		)
Stock-based compensation expense	23			—			23			22			—		22
Tax deduction in excess of stock-based compensation expense	11			—			11			7			—		7
Transactions in connection with stock-based compensation plans:
Stock issuances	30			—			30			11			—		11
Stock repurchases	(2		)	—			(2		)	(2		)	—		(2		)
Contributions from noncontrolling interest	—			11			11			—			—		—
Other comprehensive income (loss)	110			—			110			(125		)	—		(125		)
Balance at end of period	$	15,982		$	10		$	15,992		$	15,051		$	—	$	15,051