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Equity | 3 Months Ended
--- | ---
Mar. 31, 2017
Equity [Abstract] |
EQUITY |
5. | EQUITY
Reconciliation of Balances 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,
| 2017 |  | 2016
| Valero Stockholders’ Equity |  | Non- controlling Interests (a) |  | Total Equity |  | Valero Stockholders’ Equity |  | Non- controlling Interests (a) |  | Total Equity
Balance as of beginning of period | $ | 20,024 |  |  | $ | 830 |  |  | $ | 20,854 |  |  | $ | 20,527 |  |  | $ | 827 |  |  | $ | 21,354 |
Net income | 305 |  |  | 16 |  |  | 321 |  |  | 495 |  |  | 18 |  |  | 513 |
Dividends | (315 | ) |  | — |  |  | (315 | ) |  | (282 | ) |  | — |  |  | (282 | )
Stock-based compensation expense | 13 |  |  | — |  |  | 13 |  |  | 12 |  |  | — |  |  | 12 |
Stock purchases in connection with stock-based compensation plans | (10 | ) |  | — |  |  | (10 | ) |  | (42 | ) |  | — |  |  | (42 | )
Stock purchases under purchase program | (292 | ) |  | — |  |  | (292 | ) |  | (198 | ) |  | — |  |  | (198 | )
Distributions to noncontrolling interests | — |  |  | (34 | ) |  | (34 | ) |  | — |  |  | (7 | ) |  | (7 | )
Other | 24 |  |  | 14 |  |  | 38 |  |  | 13 |  |  | — |  |  | 13 |
Other comprehensive income | 76 |  |  | — |  |  | 76 |  |  | 131 |  |  | 1 |  |  | 132 |
Balance as of end of period | $ | 19,825 |  |  | $ | 826 |  |  | $ | 20,651 |  |  | $ | 20,656 |  |  | $ | 839 |  |  | $ | 21,495 |
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(a) | The noncontrolling interests relate to third-party ownership interests in VIEs for which we are the primary beneficiary and therefore consolidate. See Note 6 for information about our consolidated VIEs.
Share Activity There was no significant share activity during the three months ended March 31, 2017 and 2016.
Common Stock Dividends On May 3, 2017, our board of directors declared a quarterly cash dividend of $0.70 per common share payable on June 7, 2017 to holders of record at the close of business on May 17, 2017.
Accumulated Other Comprehensive Loss Changes in accumulated other comprehensive loss by component, net of tax, were as follows (in millions):
| Three Months Ended March 31,
| 2017 |  | 2016
| Foreign Currency Translation Adjustment |  | Defined Benefit Plans Items |  | Total |  | Foreign Currency Translation Adjustment |  | Defined Benefit Plans Items |  | Total
Balance as of beginning of period | $ | (1,021 | ) |  | $ | (389 | ) |  | $ | (1,410 | ) |  | $ | (605 | ) |  | $ | (328 | ) |  | $ | (933 | )
Other comprehensive income before reclassifications | 74 |  |  | — |  |  | 74 |  |  | 121 |  |  | 8 |  |  | 129 |
Amounts reclassified from accumulated other comprehensive loss | — |  |  | 2 |  |  | 2 |  |  | — |  |  | 2 |  |  | 2 |
Net other comprehensive income | 74 |  |  | 2 |  |  | 76 |  |  | 121 |  |  | 10 |  |  | 131 |
Balance as of end of period | $ | (947 | ) |  | $ | (387 | ) |  | $ | (1,334 | ) |  | $ | (484 | ) |  | $ | (318 | ) |  | $ | (802 | )

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