Equity

3 Months Ended

Mar. 31, 2012

Equity [Abstract]

EQUITY

7. EQUITY

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 three months ended March 31, 2012 and 2011:

	2012								2011
	Valero Stockholders’ Equity			Non- controlling Interest		Total Equity			Valero Stockholders’ Equity			Non- controlling Interest		Total Equity
Balance at beginning of period	$	16,423		$	22	$	16,445		$	15,025		$	—	$	15,025
Net income (loss)	(432		)	—		(432		)	98			—		98
Dividends	(83		)	—		(83		)	(28		)	—		(28		)
Stock-based compensation expense	10			—		10			12			—		12
Tax deduction in excess of stock-based compensation expense	2			—		2			5			—		5
Transactions in connection with stock-based compensation plans:
Stock issuances	9			—		9			21			—		21
Stock repurchases	(95		)	—		(95		)	—			—		—
Contributions from noncontrolling interest	—			11		11			—			—		—
Other comprehensive income	125			—		125			91			—		91
Balance at end of period	$	15,959		$	33	$	15,992		$	15,224		$	—	$	15,224

The noncontrolling interest relates to the ownership interest in Diamond Green Diesel Holdings LLC that is owned by a party unrelated to us.

Share Activity

Activity in the number of shares of common stock and treasury stock was as follows (in millions) for the three months ended March 31, 2012 and 2011:

	2012			2011
	Common Stock	Treasury Stock		Common Stock	Treasury Stock
Balance as of beginning of period	673	(117	)	673	(105	)
Transactions in connection with stock-based compensation plans:
Stock issuances	—	1		—	2
Stock purchases	—	(5	)	—	—
Balance as of end of period	673	(121	)	673	(103	)

Common Stock Dividends

On May 3, 2012, our board of directors declared a quarterly cash dividend of $0.15 per common share payable on June 20, 2012 to holders of record at the close of business on May 23, 2012.