Registration document 2007 - Total.com
Registration document 2007 - Total.com
Registration document 2007 - Total.com
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Other matters<br />
Employee incentives and profit-sharing<br />
On June 30, 2006, an incentive agreement and a profit-sharing<br />
agreement were signed for 2006, <strong>2007</strong> and 2008, concerning<br />
TOTAL S.A., CDF Énergie, Elf Exploration Production, <strong>Total</strong> E&P<br />
France, <strong>Total</strong> France, <strong>Total</strong> Infrastructures Gaz France, <strong>Total</strong><br />
Lubrifiants, <strong>Total</strong> Additifs et Carburants Spéciaux, <strong>Total</strong> Fluides<br />
and <strong>Total</strong>gaz.<br />
The amount of the special profit-sharing and incentives reserve to<br />
be distributed by all of the <strong>com</strong>panies that signed the Group<br />
agreements for fiscal year 2006 would total 103 M€.<br />
Company savings plans give employees of the Group’s<br />
<strong>com</strong>panies covered by these plans the ability to make voluntary<br />
contributions (to which the Company adds, under certain<br />
conditions) to plans invested in shares of the Company (see<br />
pages 113 to 114).<br />
In order to reaffirm the Group’s <strong>com</strong>mitment in favor of<br />
sustainable development, the fund « TOTAL Diversifié à<br />
Dominantes actions » was converted on September 2006, into a<br />
Socially Responsible Investment fund (Fonds à Investissement<br />
Socialement Responsable).<br />
The Group made supplemental contributions to the various<br />
savings plans that amounted to 48 M€ in 2006.<br />
Pension Savings Plan<br />
Pursuant to French law 2003-775 of August 21, 2003 reforming<br />
pensions, an agreement was signed with the unions on<br />
September 29, 2004 to set up, as of January 1, 2005, a<br />
« Collective Retirement Savings Plan » (PERCO) to replace the<br />
« Voluntary Partnerships Plan for Employee Savings » (PPESV)<br />
created in the agreement of March 15, 2002. An amendment to<br />
this agreement was signed on December 20, 2005 to increase,<br />
in France, the employees and Company contributions, and to<br />
allow contributions of bonuses and/or profit-sharing.<br />
Agreements mentioned in Article L 225-100-3<br />
of the French Commercial Code<br />
There are no agreements mentioned in paragraph 9 or 10 of<br />
Article L 225-100-3 of the French Commercial Code.<br />
General information<br />
Other matters<br />
Filing of Form 20-F with the Securities and<br />
Exchange Commission<br />
8<br />
In order to meet its obligations resulting from the listing of its<br />
shares in the United States, the Company files, along with this<br />
<strong>document</strong>, an annual <strong>document</strong> (Form 20-F) in English with the<br />
Securities and Exchange Commission (SEC).<br />
This <strong>document</strong> contains a table showing the reconciliation<br />
between its consolidated financial statements and the statements<br />
that would be presented under U.S. accounting standards.<br />
The principal variance concerns the treatment of the<br />
consolidation of Elf Aquitaine and PetroFina. Pursuant to IFRS 1<br />
“First-time adoption of the IFRS”, the Group opted for the<br />
exemption not to restate business <strong>com</strong>binations prior to<br />
January 1, 2004. Thus, the consolidations of Elf Aquitaine and<br />
PetroFina are accounted for as a pooling of interests in the IFRS<br />
statements and as acquisitions in the U.S. statements.<br />
The other differences result from various methods presenting<br />
in<strong>com</strong>patibilities under accounting standards.<br />
These differences, which have their origin in various practices for<br />
valuing balance sheet items, have no impact on cash flows, cash<br />
and cash equivalents or financial liabilities.<br />
The detailed explanations of the differences described above are<br />
presented in the Form 20-F available on the Group’s website.<br />
Moreover, the Company specifies that, pursuant to the<br />
requirements introduced by section 302 of the Sarbanes-Oxley<br />
Act of July 30, 2002, the Chief Executive Officer and the Chief<br />
Financial Officer of the Company conducted, with the assistance<br />
of Management, an evaluation of the effectiveness of the<br />
disclosure controls and procedures as defined by U.S.<br />
regulations, for the period covered by the Form 20-F. For 2006,<br />
the Chief Executive Officer and the Chief Financial Officer<br />
concluded that disclosure controls and procedures were<br />
effective.<br />
TOTAL – <strong>Registration</strong> Document 2006 163