Registration document 2007 - Total.com

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9 C) Adjustment items by business segment The adjustment items for income as per note 2 to the consolidated financial statements are detailed as follows: ADJUSTMENTS TO OPERATING INCOME 2006 (in M€) Upstream Downstream Chemicals Corporate Total Inventory valuation effect - (272) (42) - (314) Restructuring charges - - (25) - (25) Asset impairment charges - - (61) - (61) Other - - (91) (27) (118) Total - (272) (219) (27) (518) ADJUSTMENTS TO NET INCOME 2006 (in M€) Upstream Downstream Chemicals Corporate Total Inventory valuation effect - (330) (28) - (358) TOTAL’s equity share of special items recorded by Sanofi-Aventis - - - (81) (81) Adjustment related to Sanofi-Aventis merger - - - (309) (309) Restructuring charges - - (154) - (154) Asset impairment charges - - (40) - (40) Gains/(Losses) on sales of assets 130 174 - - 304 Other (71) (172) 64 (179) Total 59 (156) (394) (326) (817) ADJUSTMENTS TO OPERATING INCOME 2005 (in M€) Upstream Downstream Chemicals Corporate Total Inventory valuation effect - 1,197 68 - 1,265 Restructuring charges - - (19) - (19) Asset impairment charges - - (71) - (71) Others - - (7) - (7) Total - 1,197 (29) - 1,168 ADJUSTMENTS TO NET INCOME 2005 (in M€) Upstream Downstream Chemicals Corporate Total Inventory valuation effect - 1,022 50 - 1,072 Total’s equity share of special items recorded by Sanofi-Aventis - - - (207) (207) Adjustment related to Sanofi-Aventis merger - - - (335) (335) Restructuring charges - - (130) - (130) Asset impairment charges - - (215) - (215) Gains/(Losses) on sales of assets - - - - - Other - - (501) 586 85 Total - 1,022 (796) 44 270 192 Appendix 1 – Consolidated financial statements Notes to the consolidated financial statement TOTAL – Registration Document 2006
ADJUSTMENTS TO OPERATING INCOME 2004 (in M€) Upstream Downstream Chemicals Corporate Total Inventory valuation effect - 487 232 - 719 Restructuring charges - (50) - - (50) Asset impairment charges - (34) (244) - (278) Other - - (55) - (55) Total - 403 (67) - 336 ADJUSTMENTS TO NET INCOME 2004 (in M€) Upstream Downstream Chemicals Corporate Total Inventory valuation effect - 349 157 - 506 TOTAL’s equity share of special items recorded by Sanofi-Aventis (dilution income included) - - - 2,399 2,399 Adjustment related to Sanofi-Aventis merger - - - (113) (113) Restructuring charges - (31) (112) - (143) Asset impairment charges (114) (21) (637) - (772) Gains/(Losses) on sales of assets - - - 53 53 Other (34) (26) (197) 64 (193) Total (148) 271 (789) 2,403 1,737 D) Additional information on impairments In the Chemicals segment, impairments of assets (property, plant and equipment and intangible assets) have been recognized for the year ended December 31, 2006, with an impact of -61 M€ in operating income and -40 M€ in net income, Group share. These items are identified in the paragraph C above as adjusting items in heading “Asset impairment charges”. These impairment losses impact certain Cash Generating Units (CGU) of the Chemicals segment for which there were indications that assets may be impaired, due mainly to changes in the economic environment of their specific businesses. CGUs of the Chemicals segment are worldwide business units, including activities or products with common strategic, commercial and industrial characteristics. Appendix 1 – Consolidated financial statements Notes to the consolidated financial statement In addition, 9 • the recoverable amount of CGUs has been based on their value in use, as defined in note 1L to the consolidated financial statements “Impairment of long-lived assets”; • future cash flows including specific risks attached to CGU assets have been discounted using a 8% after tax discount rate. For the years ended December 31, 2005 and 2004, changes in the economic environment of certain business units of the Chemicals segment had triggered the recognition of impairments of assets for respectively -71 M€ and -244 M€ in operating income and -215 M€ and -637 M€ in net income, Group share. No reversal of impairment losses has been recognized in 2004, 2005 and 2006. TOTAL – Registration Document 2006 193
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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
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Restricted share plans as of Decemb
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TOTAL and its shareholders Listing
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Four-for-one stock split The Genera
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Information Summary TOTAL and its s
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Dividends Dividend policy In accord
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Share buybacks The General Meeting
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Summary table of transactions compl
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cancels and replaces the unused por
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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 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 193: Appendix 1 - Consolidated financial
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
Page 223 and 224: 25) Payroll and staff For the year
Page 225 and 226: The classification by strategy and
Page 227 and 228: B) Financial instruments related to
Page 229 and 230: 29) Market risks Oil and gas market
Page 231 and 232: As a result of its policy for manag
Page 233 and 234: 3) The Group has recorded provision
Page 237 and 238: 53.2% 95.7% Elf Aquitaine 99.5% 100
Page 239 and 240: Oil and gas reserves p. 238 • Cha
Page 241 and 242: Changes in liquids reserves Appendi
Page 243 and 244: 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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