Registration document 2007 - Total.com

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7 2006 consolidated financial statements The consolidated financial statements of TOTAL S.A. and its subsidiaries (the Group) for the year ended December 31, 2006 were prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union on December 31, 2006. They appear in Appendix 1 to this Registration Document: • Consolidated statement of income page 169 • Consolidated balance sheet page 170 • Consolidated statement of cash flows page 171 • Consolidated statement of changes in shareholders’ equity page 172 • Notes to the consolidated financial statements pages 173 to 235 2004 and 2005 consolidated financial statements The consolidated financial statements of TOTAL S.A. and its subsidiaries for the years ended December 31, 2005 and 2004, as presented in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union on December 31, 2005, are included in TOTAL’s Registration Document for the year 2005 which was filed with the French Autorité des marchés financiers on March 31, 2006 (pages 166 to 234 of the French version, and page 164 to 230 of the English version). 150 Financial information Historical financial information Historical financial information Audit of historical financial information The consolidated financial statements for the fiscal year 2006 which appear in Appendix 1 of this Registration Document (pages 167 to 235) were certified by the Company’s auditors. A free translation of the auditors’ report on these consolidated financial statements is provided in Appendix 1 (page 168). The consolidated financial statements for the fiscal years 2004 and 2005 (IFRS) appearing on pages 166 to 234 of the French version of the Registration Document for the fiscal year 2005 which was filed with the French Autorité des marchés financiers on March 31, 2006 (and on pages 164 to 230 of the English version) were also certified by the Company’s auditors. The TOTAL – Registration Document 2006 TOTAL’s Registration Document for the year 2005 includes the transition items from French accounting standards to IFRS, in note 32 to the consolidated financial statements for the fiscal year 2005 (Appendix 1, pages 224 to 227 of the filed French version, and pages 220 to 223 of the English version). These transition items are supplemented by a consolidated income statement for the year 2004, as well as the opening consolidated balance sheet (at January 1, 2004) and the closing consolidated balance sheet (December 31, 2004) for the year 2004, presented in accordance with IFRS as adopted by the European Union on December 31, 2005 (pages 228 to 231 of the filed French version, and pages 224 to 227 of the English version). The aforementioned information is incorporated by reference in this Registration Document. Financial information concerning TOTAL S.A. The statutory accounts of TOTAL S.A., the parent company of the Group, for the years ended December 31, 2006 and December 31, 2005 were prepared in accordance with French accounting standards as applicable on December 31, 2006. They appear in Appendix 3 to this Registration Document: • Statutory statement of income page 252 • Statutory balance sheet page 253 • Statutory statement of cash flows page 254 • Statutory statement of changes in shareholders’ equity page 255 • Notes to the statutory financial statements pages 256 to 269 auditors’ report on the consolidated financial statements for the fiscal year 2005 is reproduced on page 166 of said filed French version (and a free translation is reproduced on page 164 of aforesaid English version) and is incorporated by reference in this Registration Document. The TOTAL S.A.’s statutory accounts for the fiscal year 2006 (French accounting standards) which appear in Appendix 1 to this Registration Document (pages 249 to 269) were also certified by the Company’s statutory auditors. A free translation of the auditors’ report on the 2006 statutory accounts is reproduced in Appendix 3 (page 251).
Additional information Financial information other than those contained in Appendix 1 or 3 of this Registration Document, in particular ratios, statistical data or other calculated data which are used to describe the Group or its business performance, is not extracted from the audited financial statements of the issuer. Except where otherwise stated, this information is based on internal Company data. In particular, the supplemental oil and gas information provided in Appendix 2 of this Registration Document (pages 237 to 248), is not extracted from the audited financial statements of the issuer and was not audited by the Company’s statutory auditors. This supplemental information was prepared by the Company based Dividend policy Financial information Additional information 7 on elements available to it, using its own calculations or estimates and taking into account the U.S. standards to which the Company is subject for this kind of information as a result of the listing of its shares (in the form of ADS) on the New York Stock Exchange. This Registration Document does not include profit forecasts or estimates for the period following December 31, 2006, in the meaning of regulation (EC) n° 809/2004 dated April 29, 2004. The Company’s dividend policy is described on pages 131 to 132 of this Registration Document (TOTAL and its shareholders). Legal and arbitration proceedings The main legal disputes in which the Group is involved are described on pages 81 to 83 (Risk factors) and page 165 (General information – Information on holdings) of this Registration Document. For the past 12-month period, the Company is not aware of any administrative, legal or arbitration disputes which have recently had or could have a material impact Significant changes Except for the recent events mentioned in the Management Report of the Board of Directors (pages 61 to 73) or in the Business overview (pages 10 to 54), no significant changes in the Group’s financial or commercial position have occurred to date on its financial position or its profitability or on those of the Group as a whole. According to the information available to the Company to date, there are no pending or threatening administrative, legal or arbitration disputes that could have a material impact on its financial position or its profitability or on those of the Group as a whole. since December 31, 2006, the closing date of the last fiscal year for which audited financial statements have been published by the Company. TOTAL – Registration Document 2006 151
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Registration Document 2006
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Registration Document 2006 This is
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Key figures Selected financial info
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116,842 Key figures Operating and m
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Refined product sales including Tra
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Business overview History and strat
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Upstream TOTAL’s Upstream segment
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Exploration & Production Exploratio
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Production For the full year 2006,
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Presentation of production activiti
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Europe Business overview Exploratio
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Africa TOTAL has been present in Af
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this zone through its subsidiaries
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North America Since 2004, TOTAL has
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Trinidad & Tobago TOTAL holds a 30%
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TOTAL also has a 50% interest in th
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Europe TOTAL’s production in Euro
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K6-GT platform, in anticipation of
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The Group also holds a 20% interest
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Gas & Power The Gas & Power divisio
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Asia Pacific The Hazira re-gasifica
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In Morocco, Temasol, in which TOTAL
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Refining & Marketing As of December
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Refined products The table below se
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capacity oil recycling plant in Fra
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In 2006, the principal market bench
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Base Chemicals TOTAL’s Base Chemi
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Specialties TOTAL’s Specialties s
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Investments Main investments made o
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Property, Plant and Equipment TOTAL
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Board of Directors Executive Commit
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Management Report of the Board of D
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Market environment 2006 2005 2004 E
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Upstream results Liquids and gas pr
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Downstream results For the full yea
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Liquidity and capital resources Lon
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Research and development Research a
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Trends and outlook Outlook Since th
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Risk Factors Market risks p. 76 •
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The Group has implemented strict po
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The non-current debt in dollars des
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Grande Paroisse An explosion occurr
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Myanmar Under the Belgian “univer
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Risk management Risk evaluations le
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TOTAL, like other major internation
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Insurance and risk management Organ
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Corporate Governance Board of Direc
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Daniel Bouton 56 years old. Inspect
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Bertrand Jacquillat 62 years old. A
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Michel Pébereau 64 years old. Hono
Page 101 and 102: Management General Management On Ma
Page 103 and 104: Corporate Governance Compensation o
Page 105 and 106: Pensions and other commitments (Art
Page 107 and 108: Within this framework, the Board’
Page 109 and 110: Members of the Audit Committee may
Page 111 and 112: Messrs. Bouton, Collomb, Desmarais,
Page 113 and 114: establishes and maintains procedure
Page 115 and 116: Employees, Share Ownership, Stock O
Page 117 and 118: Corporate Governance Employees, Sha
Page 119 and 120: TOTAL stock options Corporate Gover
Page 125 and 126: Restricted share plans as of Decemb
Page 127 and 128: TOTAL and its shareholders Listing
Page 129 and 130: Four-for-one stock split The Genera
Page 131 and 132: Information Summary TOTAL and its s
Page 133 and 134: Dividends Dividend policy In accord
Page 135 and 136: Share buybacks The General Meeting
Page 137 and 138: Summary table of transactions compl
Page 139 and 140: cancels and replaces the unused por
Page 141 and 142: which was approved by the French Co
Page 143 and 144: Shareholder structure Distribution
Page 145 and 146: Non-resident individual taxpayers e
Page 147 and 148: The Committee also worked on the co
Page 149 and 150: 2007 Calendar February 14 Results f
Page 151: Financial information Historical fi
Page 155 and 156: General information Share capital p
Page 157 and 158: Pursuant to this authorization, the
Page 159 and 160: Potential capital as of December 31
Page 161 and 162: General information Share capital J
Page 163 and 164: Directors’ Charter and Committees
Page 165 and 166: Other matters Employee incentives a
Page 167 and 168: Information on holdings General inf
Page 169 and 170: Statutory auditors’ report on the
Page 171 and 172: Consolidated statement of income TO
Page 173 and 174: Consolidated statement of cash flow
Page 175 and 176: On February 13, 2007, the Board of
Page 177 and 178: G. Earnings per share Earnings per
Page 179 and 180: equal to the market price. For unli
Page 181 and 182: The net periodic pension cost is re
Page 183 and 184: (iii) Portion of intangible assets
Page 185 and 186: A. Information by business segment
Page 187 and 188: Appendix 1 - Consolidated financial
Page 195 and 196: ADJUSTMENTS TO OPERATING INCOME 200
Page 197 and 198: In 2006, gains and losses on sales
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14) Other non-current assets As of
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The variation of the weighted-avera
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18) Employee benefits obligations P
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The components of the net periodic
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20) Financial debt and related fina
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Appendix 1 - Consolidated financial
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Impact on net income The amount of
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23) Commitments and contingencies A
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Other guarantees given Non-consolid
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25) Payroll and staff For the year
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The classification by strategy and
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B) Financial instruments related to
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29) Market risks Oil and gas market
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As a result of its policy for manag
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3) The Group has recorded provision
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53.2% 95.7% Elf Aquitaine 99.5% 100
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Oil and gas reserves p. 238 • Cha
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Changes in liquids reserves Appendi
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Changes in liquids and gas reserves
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Costs incurred in oil and gas prope
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Appendix 2 - Supplemental oil and g
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Other information Accounting for ex
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Appendix 3 - TOTAL S.A. Special aud
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(Free translation of a French langu
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Balance Sheet (TOTAL S.A.) Appendix
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Statement of changes in Shareholder
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2) Property, plant and equipment As
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6) Shareholders’ equity A) Common
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7) Contingency reserves As of Decem
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11) Translation adjustment The appl
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20) Commitments As of December 31 (
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TOTAL share purchase options plans
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Appendix 3 - TOTAL S.A. Parent comp
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List of marketable securities held
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Distribution of earnings 2006 Net d
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Social and environmental informatio
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AVERAGE COMPENSATION PER MONTH - TO
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Environment Pursuant to French law
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Consolidated financial information
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European Cross Reference List 10. C
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TOTAL S.A. Registered Office: 2, pl
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Registration document 2007 - Total.com

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