Valero 2015 Annual Report Download - page 92
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Table of Contents
VALERO ENERGY CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
12. EQUITY
Activity in the number of shares of common stock and treasury stock was as follows (in millions):
Common
Stock
Treasury
Stock
Balance as of December 31, 2012 673
(121)
Transactions in connection with
stock-based compensation plans:
Stock issuances —
6
Stock purchases —
(6)
Stock purchases under purchase program —
(17)
Balance as of December 31, 2013 673
(138)
Transactions in connection with
stock-based compensation plans:
Stock issuances —
4
Stock purchases —
(2)
Stock purchases under purchase program —
(23)
Balance as of December 31, 2014 673
(159)
Transactions in connection with
stock-based compensation plans:
Stock issuances —
4
Stock purchases —
(3)
Stock purchases under purchase program —
(42)
Balance as of December 31, 2015 673
(200)
We have 20 million shares of preferred stock authorized with a par value of $0.01 per share. No shares of preferred stock were
outstanding as of December 31, 2015 or 2014.
We purchase shares of our common stock as authorized under our common stock purchase program (described below) and to meet our
obligations under employee stock-based compensation plans.
O n February 28, 2008, our board of directors approved a $3 billion common stock purchase program, which was in addition to a
$6 billion program previously authorized. This additional $3 billion program had no expiration date. We completed the $6 billion
program during 2013 and the $3 billion program during 2015. On July 13, 2015, our board of directors authorized us to purchase an
additional $2.5 billion of our outstanding common stock with no expiration date. During the years ended December 31, 2015, 2014,
and 2013, we purchased $2.7 billion, $1.2 billion, and $692 million, respectively, of our common stock under our programs. As of
December 31, 2015, we have approvals under the $2.5 billion program to purchase approximately $1.3 billion of our common stock.
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