Registration document 2007 - Total.com

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9 Income taxes are detailed as follows: As of December 31, (in M€) 2006 2005 2004 Current income taxes (12,997) (11,362) (7,641) Deferred income taxes (723) (444) (962) Total income taxes (13,720) (11,806) (8,603) Before netting deferred tax assets and liabilities by fiscal entities, the components of deferred tax balances as of December 31, 2005 and 2006 are as follows: As of December 31, (in M€) 2006 2005 Net operating losses and tax carry forwards 633 484 Employee benefits 830 949 Other temporarily non-deductible provisions 2,157 2,637 Gross deferred tax assets 3,620 4,070 Valuation allowance (572) (536) Net deferred tax assets 3,048 3,534 Excess tax over book depreciation (8,180) (7,769) Other temporary tax deductions (1,237) (1,435) Gross deferred tax liability (9,417) (9,204) Net deferred tax liability (6,369) (5,670) After netting deferred tax assets and liabilities by fiscal entity, deferred taxes are presented on the balance sheet as follows: As of December 31, (in M€) 2006 2005 Deferred tax assets, non current (note 14 “Other non-current assets”) 806 1,392 Deferred tax assets, current (note 16 “Accounts receivable & other current assets”) 94 126 Deferred tax liabilities, non current (Deferred tax) (7,139) (6,976) Deferred tax liabilities, current (130) (212) Net amount (6,369) (5,670) The net deferred tax variation in the balance sheet is analyzed as follows: As of December 31, (in M€) 2006 2005 Opening balance (5,670) (5,100) Deferred tax on income for continuing operations (723) (444) Deferred tax on income for discontinued operations (10) 53 Deferred tax on shareholders’ equity (a) (17) 176 Consolidated scope changes (b) (311) 29 Currency translation adjustment 362 (384) Closing balance (6,369) (5,670) (a) This amount includes mainly current income taxes and deferred taxes for transactions on treasury shares and for changes in fair value of listed securities classified as financial assets available for sale. (b) This amount includes mainly the impact of the spin-off of Arkema . 196 Appendix 1 – Consolidated financial statements Notes to the consolidated financial statement TOTAL – Registration Document 2006
Appendix 1 – Consolidated financial statements Notes to the consolidated financial statement RECONCILIATION BETWEEN PROVISION FOR INCOME TAXES AND PRE-TAX INCOME (EXCLUDING ARKEMA): As of December 31, (in M€) 2006 2005 2004 Net income from continuing operations 12,140 13,103 11,847 Provision for income taxes 13,720 11,806 8,603 Pre-tax income 25,860 24,909 20,450 French statutory tax rate 34.43% 34.93% 35.43% Theoretical tax charge (8,904) (8,701) (7,245) Difference between French and foreign income tax rates (5,484) (4,128) (2,740) Tax effect of equity in income (loss) of affiliates 583 410 410 Permanent differences 324 253 982 Adjustments on prior years income taxes (87) (55) (44) Adjustments on deferred tax related to tax rates variations (88) 576 104 Change in valuation allowance (62) (151) (71) Others (2) (10) 1 Net provision for income taxes (13,720) (11,806) (8,603) French statutory tax rate includes the standard corporate tax rate (33.33%) and additional taxes applicable that bring the overall tax rate to 34.43% in 2006 (34.93% in 2005). 9 Permanent differences are mainly due to impairment of goodwill and to dividends from non-consolidated companies as well as the specific taxation rules applicable to some activities and within the consolidated income tax treatment. Net operating losses and tax credit carry forwards Deferred tax assets related to net operating losses and tax carry forwards were available in various tax juridictions, expiring in the following years: As of December 31, (in M€) 2006 2005 Basis Tax Basis Tax 2006 - - 225 106 2007 234 115 165 81 2008 210 102 144 70 2009 157 80 68 32 2010 (a) 299 104 27 11 2011 and after 23 9 - - Unlimited 638 223 559 184 Total 1,561 633 1,188 484 (a) Net operating losses and tax credit carry forwards in 2010 and after for 2005. 10) Intangible assets As of December 31, (in M€) 2006 2005 Depreciation and Depreciation and Cost amortization Net Cost amortization Net Goodwill 1,759 (635) 1,124 2,479 (1,318) 1,161 Proved and unproved leasehold rights 5,457 (2,473) 2,984 5,213 (2,659) 2,554 Other intangible assets 2,377 (1,780) 597 2,684 (2,015) 669 Total intangible assets 9,593 (4,888) 4,705 10,376 (5,992) 4,384 TOTAL – Registration Document 2006 197
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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
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Shareholder structure Distribution
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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 195 and 196: ADJUSTMENTS TO OPERATING INCOME 200
Page 197: 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
Page 245 and 246: Costs incurred in oil and gas prope
Page 247 and 248: 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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