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Equity
 6 Months Ended
Jun. 30, 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 six months ended June 30, 2012 and 2011:
 
 
2012
 
2011
 
 
Valero
Stockholders’
Equity
 
Non-
controlling
Interest
 
Total
Equity
 
Valero
Stockholders’
Equity
 
Non-
controlling
Interest
 
Total
Equity
Balance as of beginning of period
 
$
16,423

 
$
22

 
$
16,445

 
$
15,025

 
$
—

 
$
15,025

Net income (loss)
 
399

 
(1
)
 
398

 
842

 
(1
)
 
841

Dividends
 
(166
)
 
—

 
(166
)
 
(57
)
 
—

 
(57
)
Stock-based compensation expense
 
20

 
—

 
20

 
23

 
—

 
23

Tax deduction in excess of stock-based compensation expense
 
3

 
—

 
3

 
11

 
—

 
11

Transactions in connection with stock-based compensation plans:
 
 
 
 
 
 
 
 
 
 
 
 
Stock issuances
 
11

 
—

 
11

 
30

 
—

 
30

Stock repurchases
 
(136
)
 
—

 
(136
)
 
(2
)
 
—

 
(2
)
Contributions from noncontrolling interest
 
—

 
25

 
25

 
—

 
11

 
11

Other comprehensive income
 
23

 
—

 
23

 
110

 
—

 
110

Balance as of end of period
 
$
16,577

 
$
46

 
$
16,623

 
$
15,982

 
$
10

 
$
15,992


The noncontrolling interest relates to a third-party ownership interest in Diamond Green Diesel Holdings LLC, a company whose financial statements we consolidate due to our controlling interest.

Share Activity
Activity in the number of shares of common stock and treasury stock was as follows (in millions) for the six months ended June 30, 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
—

 
(6
)
 
—

 
—

Balance as of end of period
673

 
(122
)
 
673

 
(103
)


Common Stock Dividends
On July 26, 2012, our board of directors declared a quarterly cash dividend of $0.175 per common share payable on September 12, 2012 to holders of record at the close of business on August 15, 2012.