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Equity (Tables) | 9 Months Ended
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Sep. 30, 2013
Equity [Abstract] |
Schedule of changes in equity | The following is a reconciliation of the beginning and ending balances of equity attributable to our stockholders, equity attributable to the noncontrolling interests, and total equity for the nine months ended September 30, 2013 and 2012 (in millions):
|  | 2013 |  | 2012
|  | Valero Stockholders’ Equity |  | Non- controlling Interests |  | Total Equity |  | Valero Stockholders’ Equity |  | Non- controlling Interest |  | Total Equity
Balance as of beginning of period |  | $ | 18,032 |  |  | $ | 63 |  |  | $ | 18,095 |  |  | $ | 16,423 |  |  | $ | 22 |  |  | $ | 16,445 |
Net income (loss) |  | 1,432 |  |  | 9 |  |  | 1,441 |  |  | 1,073 |  |  | (2 | ) |  | 1,071 |
Dividends |  | (342 | ) |  | — |  |  | (342 | ) |  | (263 | ) |  | — |  |  | (263 | )
Stock-based compensation expense |  | 31 |  |  | — |  |  | 31 |  |  | 29 |  |  | — |  |  | 29 |
Tax deduction in excess of stock-based compensation expense |  | 31 |  |  | — |  |  | 31 |  |  | 16 |  |  | — |  |  | 16 |
Transactions in connection with stock-based compensation plans: |  |  |  |  |  |  |  |  |  |  |  |
Stock issuances |  | 47 |  |  | — |  |  | 47 |  |  | 36 |  |  | — |  |  | 36 |
Stock repurchases |  | (220 | ) |  | — |  |  | (220 | ) |  | (138 | ) |  | — |  |  | (138 | )
Stock repurchases under buyback program |  | (396 | ) |  | — |  |  | (396 | ) |  | — |  |  | — |  |  | — |
Separation of retail business |  | (479 | ) |  | — |  |  | (479 | ) |  | — |  |  | — |  |  | — |
Contributions from noncontrolling interests |  | — |  |  | 45 |  |  | 45 |  |  | — |  |  | 34 |  |  | 34 |
Other comprehensive income |  | 134 |  |  | — |  |  | 134 |  |  | 156 |  |  | — |  |  | 156 |
Balance as of end of period |  | $ | 18,270 |  |  | $ | 117 |  |  | $ | 18,387 |  |  | $ | 17,332 |  |  | $ | 54 |  |  | $ | 17,386 |
Schedule of stock by class | Activity in the number of shares of common stock and treasury stock was as follows for the nine months ended September 30, 2013 and 2012 (in millions):
| 2013 |  | 2012
| Common Stock |  | Treasury Stock |  | Common Stock |  | Treasury Stock
Balance as of beginning of period | 673 |  |  | (121 | ) |  | 673 |  |  | (117 | )
Transactions in connection with stock-based compensation plans: |  |  |  |  |  |  |
Stock issuances | — |  |  | 3 |  |  | — |  |  | 3 |
Stock repurchases | — |  |  | (5 | ) |  | — |  |  | (6 | )
Stock repurchases under buyback program | — |  |  | (9 | ) |  | — |  |  | — |
Balance as of end of period | 673 |  |  | (132 | ) |  | 673 |  |  | (120 | )
Schedule of accumulated other comprehensive income (loss) | Changes in accumulated other comprehensive income by component, net of tax, were as follows for the nine months ended September 30, 2013 (in millions):
| Foreign Currency Translation Adjustment |  | Defined Benefit Pension Items |  | Gains and (Losses) on Cash Flow Hedges |  | Total
Balance as of December 31, 2012 | $ | 665 |  |  | $ | (558 | ) |  | $ | 1 |  |  | $ | 108 |
Other comprehensive income (loss) before reclassifications | (87 | ) |  | 214 |  |  | (4 | ) |  | 123 |
Amounts reclassified from accumulated other comprehensive income (loss) | — |  |  | 12 |  |  | (1 | ) |  | 11 |
Net other comprehensive income (loss) | (87 | ) |  | 226 |  |  | (5 | ) |  | 134 |
Separation of retail business | (159 | ) |  | — |  |  | — |  |  | (159 | )
Balance as of September 30, 2013 | $ | 419 |  |  | $ | (332 | ) |  | $ | (4 | ) |  | $ | 83 |
Reclassification out of accumulated other comprehensive income (loss) | Gains (losses) reclassified out of accumulated other comprehensive income and into net income were as follows (in millions):
Details about Accumulated Other Comprehensive Income Components |  | Three Months Ended September 30, 2013 |  | Nine Months Ended September 30, 2013 |  | Affected Line Item in the Statement of Income
Amortization of items related to defined benefit pension plans: |  |  |  |  |  |
Net actuarial loss |  | $ | (14 | ) |  | $ | (43 | ) |  | (a)
Prior service credit |  | 9 |  |  | 24 |  |  | (a)
|  | (5 | ) |  | (19 | ) |  | Total before tax
|  | 2 |  |  | 7 |  |  | Tax benefit
|  | $ | (3 | ) |  | $ | (12 | ) |  | Net of tax
Gains on cash flow hedges: |  |  |  |  |  |
Commodity contracts |  | $ | 6 |  |  | $ | 1 |  |  | Cost of sales
|  | 6 |  |  | 1 |  |  | Total before tax
|  | (2 | ) |  | — |  |  | Tax expense
|  | $ | 4 |  |  | $ | 1 |  |  | Net of tax
Total reclassifications for the period |  | $ | 1 |  |  | $ | (11 | ) |  | Net of tax
_________________________
(a) | These accumulated other comprehensive income (loss) components are included in the computation of net periodic benefit cost, as further discussed in Note 8. Net periodic benefit cost is reflected in operating expenses and general and administrative expenses.

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- Definition Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21553-112644 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.28,29) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(d),(e)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 480 -SubTopic 10 -Section S99 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=27011957&loc=d3e177068-122764 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29 -Article 5 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 30 -Article 5 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6403732&loc=d3e21300-112643 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644 + Details
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- Definition Tabular disclosure of changes in the separate accounts comprising stockholders' equity (in addition to retained earnings) and of the changes in the number of shares of equity securities during at least the most recent annual fiscal period and any subsequent interim period presented is required to make the financial statements sufficiently informative if both financial position and results of operations are presented. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644 + Details
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