Equity

6 Months Ended

Jun. 30, 2014

Stockholders' Equity Note [Abstract]

Equity

Equity

Changes to equity during the six months ended June 30, 2014 are presented below:

	HollyFrontier Stockholders’ Equity			Noncontrolling Interest			Total Equity
	(In thousands)
Balance at December 31, 2013	$	5,999,620		$	609,778		$	6,609,398
Net income	328,490			20,625			349,115
Dividends	(323,121		)	—			(323,121		)
Distributions to noncontrolling interest holders	—			(38,548		)	(38,548		)
Other comprehensive income, net of tax	74,618			(395		)	74,223
Equity-based compensation	12,188			1,658			13,846
Excess tax benefit attributable to equity-based compensation	3,778			—			3,778
Purchase of treasury stock (1)	(22,041		)	—			(22,041		)
Purchase of HEP units for restricted grants	—			(406		)	(406		)
Other	—			375			375
Balance at June 30, 2014	$	6,073,532		$	593,087		$	6,666,619

(1) Includes 92,048 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 June 30, 2014, we had remaining authorization to repurchase up to $311.6 million under this stock repurchase program. In addition, we are authorized by our Board of Directors to repurchase shares in an amount sufficient to offset shares issued under our compensation programs.