Registration document 2007 - Total.com

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9 Consolidated balance sheet TOTAL As of December 31 (in M€) ASSETS 2006 2005 2004 Non-current assets Intangible assets, net (note 5 & 10) 4,705 4,384 3,176 Property, plant and equipment, net (note 5 & 11) 40,576 40,568 34,906 Equity affiliates: investments and loans (note 12) 13,331 12,652 10,680 Other investments (note 13) 1,250 1,516 1,198 Hedging instruments of non-current financial debt (notes 20 & 27) 486 477 1,516 Other non-current financial assets (note 14) 2,088 2,794 2,351 Total non-current assets 62,436 62,391 53,827 Current assets Inventories, net (note 15) 11,746 12,690 9,264 Accounts receivable, net (note 16) 17,393 19,612 14,025 Prepaid expenses and other current assets (note 16) 7,247 6,799 5,314 Current financial assets (notes 20 & 27) 3,908 334 477 Cash and cash equivalents 2,493 4,318 3,860 Total current assets 42,787 43,753 32,940 Total assets 105,223 106,144 86,767 LIABILITIES & SHAREHOLDERS' EQUITY Shareholders’ equity Common shares 6,064 6,151 6,350 Paid-in surplus and retained earnings 41,460 37,504 31,717 Cumulative translation adjustment (1,383) 1,421 (1,429) Treasury shares (5,820) (4,431) (5,030) Total shareholders’ equity - Group share (note 17) 40,321 40,645 31,608 Minority interests and subsidiaries’ redeemable preferred shares 827 838 810 Total shareholders’ equity 41,148 41,483 32,418 Non-current liabilities Deferred income taxes (note 9) 7,139 6,976 6,402 Employee benefits (note 18) 2,773 3,413 3,607 Other non-current liabilities (note 19) 6,467 7,051 6,274 Total non-current liabilities 16,379 17,440 16,283 Non-current financial debt (note 20) 14,174 13,793 11,289 Current liabilities Accounts payable 15,080 16,406 11,672 Other creditors and accrued liabilities (note 21) 12,509 13,069 11,148 Current borrowings (note 20) 5,858 3,920 3,614 Other current financial liabilities (notes 20 & 27) 75 33 343 Total current liabilities 33,522 33,428 26,777 Total liabilities and shareholders’ equity 105,223 106,144 86,767 170 Appendix 1 – Consolidated financial statements Consolidated balance sheet TOTAL – Registration Document 2006
Consolidated statement of cash flows TOTAL Appendix 1 – Consolidated financial statements Consolidated statement of cash flows (note 26) For the year ended December 31 (in M€) CASH FLOW FROM OPERATING ACTIVITIES 2006 2005 2004 Consolidated net income 12,135 12,643 11,149 Depreciation, depletion, and amortization 5,555 6,083 6,682 Non-current liabilities, valuation allowances, and deferred taxes 601 515 715 Impact of coverage of pension benefit plans (179) (23) (181) (Gains) Losses on sales of assets (789) (99) (3,139) Undistributed affiliates’ equity earnings (952) (596) (583) (Increase) Decrease in operating assets and liabilities (441) (4,002) (253) Other changes, net 131 148 272 Cash flow from operating activities 16,061 14,669 14,662 CASH FLOW USED IN INVESTING ACTIVITIES Intangible assets and property, plant and equipment additions (9,910) (8,848) (7,777) Acquisitions of subsidiaries, net of cash acquired (127) (1,116) (131) Investments in equity affiliates and other securities (402) (280) (209) Increase in non-current loans (1,413) (951) (787) Total expenditures (11,852) (11,195) (8,904) Proceeds from sale of intangible assets and property, plant and equipment 413 274 225 Proceeds from sale of subsidiaries, net of cash sold 18 11 1 Proceeds from sale of non-current investments 699 135 408 Repayment of non-current loans 1,148 668 558 Total divestitures 2,278 1,088 1,192 Cash flow used in investing activities (9,574) (10,107) (7,712) CASH FLOW USED IN FINANCING ACTIVITIES Issuance (repayment) of shares: – Parent company’s shareholders 511 17 371 – Treasury shares (3,830) (3,189) (3,554) – Minority shareholders 17 83 162 – Subsidiaries’ redeemable preferred shares - (156) (241) Cash dividends paid to: – Parent company’s shareholders (3,999) (3,510) (4,293) – Minority shareholders (326) (237) (207) Net issuance (repayment) of non-current debt 3,722 2,878 2,249 Increase (Decrease) in current borrowings (6) (951) (2,195) Increase (Decrease) in current financial assets and liabilities (3,496) - - Other changes, net - (1) (6) Cash flow used in financing activities (7,407) (5,066) (7,714) Net increase/decrease in cash and cash equivalents (920) (504) (764) Effect of exchange rates and changes in reporting entity (905) 962 (236) Cash and cash equivalents at the beginning of the period 4,318 3,860 4,860 Cash and cash equivalents at the end of the period 2,493 4,318 3,860 9 TOTAL – Registration Document 2006 171
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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
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Management General Management On Ma
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Corporate Governance Compensation o
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Pensions and other commitments (Art
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Within this framework, the Board’
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Members of the Audit Committee may
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Messrs. Bouton, Collomb, Desmarais,
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establishes and maintains procedure
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Employees, Share Ownership, Stock O
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Corporate Governance Employees, Sha
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TOTAL stock options Corporate Gover
Page 121 and 122: Corporate Governance Employees, Sha
Page 123 and 124: Corporate Governance Employees, Sha
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 and 152: Financial information Historical fi
Page 153 and 154: Additional information Financial in
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: Consolidated statement of income TO
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
Page 201 and 202: Property, plant and equipment prese
Page 203 and 204: 14) Other non-current assets As of
Page 205 and 206: The variation of the weighted-avera
Page 207 and 208: 18) Employee benefits obligations P
Page 209 and 210: The components of the net periodic
Page 211 and 212: 20) Financial debt and related fina
Page 215 and 216: Impact on net income The amount of
Page 217 and 218: 23) Commitments and contingencies A
Page 219 and 220: 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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Appendix 1 - Consolidated financial
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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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