XML 35 R24.htm IDEA: XBRL DOCUMENT
v3.4.0.3

Equity (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2016
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 noncontrolling interests, and total equity (in millions):
| Three Months Ended March 31,
| 2016 |  | 2015
| Valero Stockholders’ Equity |  | Non- controlling Interests |  | Total Equity |  | Valero Stockholders’ Equity |  | Non- controlling Interests |  | Total Equity
Balance as of beginning of period | $ | 20,527 |  |  | $ | 827 |  |  | $ | 21,354 |  |  | $ | 20,677 |  |  | $ | 567 |  |  | $ | 21,244 |
Net income | 495 |  |  | 18 |  |  | 513 |  |  | 964 |  |  | 4 |  |  | 968 |
Dividends | (282 | ) |  | — |  |  | (282 | ) |  | (206 | ) |  | — |  |  | (206 | )
Stock-based compensation expense | 12 |  |  | — |  |  | 12 |  |  | 9 |  |  | — |  |  | 9 |
Tax deduction in excess of stock-based compensation expense | 10 |  |  | — |  |  | 10 |  |  | 15 |  |  | — |  |  | 15 |
Transactions in connection with stock-based compensation plans: |  |  |  |  |  |  |  |  |  |  |
Stock issuances | 3 |  |  | — |  |  | 3 |  |  | 15 |  |  | — |  |  | 15 |
Stock purchases | (42 | ) |  | — |  |  | (42 | ) |  | (50 | ) |  | — |  |  | (50 | )
Stock purchases under purchase program | (198 | ) |  | — |  |  | (198 | ) |  | (287 | ) |  | — |  |  | (287 | )
Contributions from noncontrolling interests | — |  |  | — |  |  | — |  |  | — |  |  | 2 |  |  | 2 |
Distributions to noncontrolling interests | — |  |  | (7 | ) |  | (7 | ) |  | — |  |  | (5 | ) |  | (5 | )
Other comprehensive income (loss) | 131 |  |  | 1 |  |  | 132 |  |  | (363 | ) |  | — |  |  | (363 | )
Balance as of end of period | $ | 20,656 |  |  | $ | 839 |  |  | $ | 21,495 |  |  | $ | 20,774 |  |  | $ | 568 |  |  | $ | 21,342 |
Schedule of stock by class | Activity in the number of shares of common stock and treasury stock was as follows (in millions):
| Three Months Ended March 31,
| 2016 |  | 2015
| Common Stock |  | Treasury Stock |  | Common Stock |  | Treasury Stock
Balance as of beginning of period | 673 |  |  | (200 | ) |  | 673 |  |  | (159 | )
Transactions in connection with stock-based compensation plans: |  |  |  |  |  |  |
Stock issuances | — |  |  | 1 |  |  | — |  |  | 2 |
Stock purchases | — |  |  | (1 | ) |  | — |  |  | (1 | )
Stock purchases under purchase program | — |  |  | (4 | ) |  | — |  |  | (5 | )
Balance as of end of period | 673 |  |  | (204 | ) |  | 673 |  |  | (163 | )
Income tax effects related to components of other comprehensive income (loss) | The tax effects allocated to each component of other comprehensive income (loss) were as follows (in millions):
| Three Months Ended March 31,
| 2016 |  | 2015
| Before- Tax Amount |  | Tax Expense (Benefit) |  | Net Amount |  | Before- Tax Amount |  | Tax Expense (Benefit) |  | Net Amount
Foreign currency translation adjustment | $ | 122 |  |  | $ | — |  |  | $ | 122 |  |  | $ | (366 | ) |  | $ | — |  |  | $ | (366 | )
Pension and other postretirement benefits: |  |  |  |  |  |  |  |  |  |  |
Miscellaneous gain arising during the period | — |  |  | (8 | ) |  | 8 |  |  | — |  |  | — |  |  | — |
Amounts reclassified into income related to: |  |  |  |  |  |  |  |  |  |  |
Net actuarial loss | 12 |  |  | 4 |  |  | 8 |  |  | 15 |  |  | 5 |  |  | 10 |
Prior service credit | (9 | ) |  | (3 | ) |  | (6 | ) |  | (10 | ) |  | (3 | ) |  | (7 | )
Net gain on pension and other postretirement benefits | 3 |  |  | (7 | ) |  | 10 |  |  | 5 |  |  | 2 |  |  | 3 |
Other comprehensive income (loss) | $ | 125 |  |  | $ | (7 | ) |  | $ | 132 |  |  | $ | (361 | ) |  | $ | 2 |  |  | $ | (363 | )
Schedule of changes in accumulated other comprehensive income (loss) | Changes in accumulated other comprehensive loss by component, net of tax, were as follows (in millions):
| Foreign Currency Translation Adjustment |  | Defined Benefit Plans Items |  | Total
Balance as of December 31, 2015 | $ | (605 | ) |  | $ | (328 | ) |  | $ | (933 | )
Other comprehensive income before reclassifications | 121 |  |  | 8 |  |  | 129 |
Amounts reclassified from accumulated other comprehensive loss | — |  |  | 2 |  |  | 2 |
Net other comprehensive income | 121 |  |  | 10 |  |  | 131 |
Balance as of March 31, 2016 | $ | (484 | ) |  | $ | (318 | ) |  | $ | (802 | )
| Foreign Currency Translation Adjustment |  | Defined Benefit Plans Items |  | Total
Balance as of December 31, 2014 | $ | 1 |  |  | $ | (368 | ) |  | $ | (367 | )
Other comprehensive loss before reclassifications | (366 | ) |  | — |  |  | (366 | )
Amounts reclassified from accumulated other comprehensive loss | — |  |  | 3 |  |  | 3 |
Net other comprehensive income (loss) | (366 | ) |  | 3 |  |  | (363 | )
Balance as of March 31, 2015 | $ | (365 | ) |  | $ | (365 | ) |  | $ | (730 | )

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -URI http://asc.fasb.org/extlink&oid=36458714&loc=SL7669686-108580 + Details
Name: | us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of components of comprehensive income (loss). Includes, but is not limited to, foreign currency translation adjustments, foreign currency transactions designated as economic hedges of a net investment in foreign entity, gain (loss) and prior service cost (credit) for pension plans and other postretirement benefit plans. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e526-108580 + Details
Name: | us-gaap_ScheduleOfComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 Reference 2: 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 3: 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 4: 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 5: 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 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 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 8: 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 Reference 9: 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 10: 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 11: 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 12: 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 13: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 30 -Article 5 + Details
Name: | us-gaap_ScheduleOfStockByClassTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfStockholdersEquityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration