Equity

3 Months Ended

Mar. 31, 2015

Stockholders' Equity Note [Abstract]

Equity

Equity

Changes to equity during the three months ended March 31, 2015 are presented below:

	HollyFrontier Stockholders’ Equity			Noncontrolling Interest			Total Equity
	(In thousands)
Balance at December 31, 2014	$	5,523,584		$	577,135		$	6,100,719
Net income	226,876			15,785			242,661
Dividends	(62,745		)	—			(62,745		)
Distributions to noncontrolling interest holders	—			(20,472		)	(20,472		)
Other comprehensive income, net of tax	(11,522		)	(454		)	(11,976		)
Equity-based compensation	6,329			896			7,225
Tax attributable to equity-based compensation	(570		)	—			(570		)
Purchase of treasury stock (1)	(55,106		)	—			(55,106		)
Purchase of HEP units for restricted grants	—			(247		)	(247		)
Other	—			14			14
Balance at March 31, 2015	$	5,626,846		$	572,657		$	6,199,503

(1) Includes 1,215 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.

In February 2015, our Board of Directors approved a $500 million share repurchase program authorizing us to repurchase common stock in the open market or through privately negotiated transactions. As of March 31, 2015, we had remaining authorization to repurchase up to $461.5 million under this stock repurchase program.

On May 5, 2015, our Board of Directors approved a $1 billion share repurchase program, which replaced all existing share repurchase programs including $461.5 million remaining under the existing $500 million share repurchase program. 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. 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.