Equity

3 Months Ended

Mar. 31, 2013

Stockholders' Equity Note [Abstract]

Equity

Equity

Changes to equity during the three months ended March 31, 2013 are presented below:

	HollyFrontier Stockholders’ Equity			Noncontrolling Interest			Total Equity
	(In thousands)
Balance at December 31, 2012	$	6,052,954		$	589,704		$	6,642,658
Net income	333,669			9,702			343,371
Dividends	(163,388		)	—			(163,388		)
Distributions to noncontrolling interest holders	—			(15,288		)	(15,288		)
Other comprehensive income, net of tax	11,759			792			12,551
Allocated equity on HEP common unit issuances, net of tax	54,011			60,145			114,156
Equity-based compensation	7,457			1,123			8,580
Excess tax benefit attributable to equity-based compensation	744			—			744
Purchase of treasury stock (1)	(11,413		)	—			(11,413		)
Purchase of HEP units for restricted grants	—			(2,924		)	(2,924		)
Balance at March 31, 2013	$	6,285,793		$	643,254		$	6,929,047

(1) Includes 31,141 shares withheld under the terms of stock-based compensation agreements to provide funds for the payment of payroll and income taxes due at the vesting of share-based awards.

We have a Board approved repurchase program that authorizes us to repurchase common stock in the open market or through privately negotiated transactions. The timing and amount of stock repurchases will depend on market conditions, corporate, regulatory and other relevant considerations. This program may be discontinued at any time by the Board of Directors. As of March 31, 2013, we had remaining authorization to repurchase up to $494.4 million under this stock repurchase program.