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Equity (Tables) | 9 Months Ended
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Sep. 30, 2017
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):
| Nine Months Ended September 30,
| 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 | 1,694 |  |  | 62 |  |  | 1,756 |  |  | 1,922 |  |  | 79 |  |  | 2,001 |
Dividends | (936 | ) |  | — |  |  | (936 | ) |  | (840 | ) |  | — |  |  | (840 | )
Stock-based compensation expense | 37 |  |  | — |  |  | 37 |  |  | 33 |  |  | — |  |  | 33 |
Stock purchases in connection with stock-based compensation plans | (27 | ) |  | — |  |  | (27 | ) |  | (43 | ) |  | — |  |  | (43 | )
Stock purchases under purchase program | (925 | ) |  | — |  |  | (925 | ) |  | (1,120 | ) |  | — |  |  | (1,120 | )
Issuance of Valero Energy Partners LP common units | — |  |  | 33 |  |  | 33 |  |  | — |  |  | 6 |  |  | 6 |
Distributions to noncontrolling interests | — |  |  | (56 | ) |  | (56 | ) |  | — |  |  | (54 | ) |  | (54 | )
Other | (14 | ) |  | (16 | ) |  | (30 | ) |  | 47 |  |  | (68 | ) |  | (21 | )
Other comprehensive income (loss) | 517 |  |  | 1 |  |  | 518 |  |  | (187 | ) |  | 1 |  |  | (186 | )
Balance as of end of period | $ | 20,370 |  |  | $ | 854 |  |  | $ | 21,224 |  |  | $ | 20,339 |  |  | $ | 791 |  |  | $ | 21,130 |
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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 7 for information about our consolidated VIEs.
Schedule of activity in number of shares of common stock and treasury stock | Activity in the number of shares of common stock and treasury stock was as follows (in millions):
| Nine Months Ended September 30,
| 2017 |  | 2016
| Common Stock |  | Treasury Stock |  | Common Stock |  | Treasury Stock
Balance as of beginning of period | 673 |  |  | (222 | ) |  | 673 |  |  | (200 | )
Transactions in connection with stock-based compensation plans: |  |  |  |  |  |  |
Stock issuances | — |  |  | — |  |  | — |  |  | 1 |
Stock purchases | — |  |  | — |  |  | — |  |  | (1 | )
Stock purchases under purchase program | — |  |  | (14 | ) |  | — |  |  | (20 | )
Balance as of end of period | 673 |  |  | (236 | ) |  | 673 |  |  | (220 | )
Schedule of changes in accumulated other comprehensive loss | Changes in accumulated other comprehensive loss by component, net of tax, were as follows (in millions):
| Nine Months Ended September 30,
| 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 (loss) before reclassifications | 509 |  |  | — |  |  | 509 |  |  | (198 | ) |  | 8 |  |  | (190 | )
Amounts reclassified from accumulated other comprehensive loss | — |  |  | 8 |  |  | 8 |  |  | — |  |  | 3 |  |  | 3 |
Net other comprehensive income (loss) | 509 |  |  | 8 |  |  | 517 |  |  | (198 | ) |  | 11 |  |  | (187 | )
Balance as of end of period | $ | (512 | ) |  | $ | (381 | ) |  | $ | (893 | ) |  | $ | (803 | ) |  | $ | (317 | ) |  | $ | (1,120 | )

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