Equity

9 Months Ended

Sep. 30, 2013

Stockholders' Equity Note [Abstract]

Equity

Equity

Changes to equity during the nine months ended September 30, 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	672,940			25,089			698,029
Dividends	(486,015		)	—			(486,015		)
Distributions to noncontrolling interest holders	—			(52,835		)	(52,835		)
Other comprehensive income, net of tax	44,599			2,068			46,667
Allocated equity on HEP common unit issuances, net of tax	54,011			58,702			112,713
Equity-based compensation	22,597			2,642			25,239
Excess tax benefit attributable to equity-based compensation	2,739			—			2,739
Purchase of treasury stock (1)	(189,666		)	—			(189,666		)
Purchase of HEP units for restricted grants	—			(3,379		)	(3,379		)
Balance at September 30, 2013	$	6,174,159		$	621,991		$	6,796,150

(1) Includes 44,233 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 September 30, 2013, we had remaining authorization to repurchase up to $331.5 million under this stock repurchase program.