Registration document 2007 - Total.com

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9 • 98,307,596 shares held by subsidiaries of Elf Aquitaine (Financière Valorgest, Sogapar and Fingestval) These shares are deducted from the consolidated shareholders’ equity. Dividend per share During the year 2006, TOTAL S.A. paid on May 18, 2006, the balance of the dividend of 3.48 euros per share par value 10 euros, or 0.87 euros per share, par value 2.50 euros, for the fiscal year 2005, as well as on November 17, 2006, an interim dividend of 0.87 euros per share, par value 2.50 euros, for the fiscal year 2006. A resolution will be submitted at the Shareholders’ Meeting of May 11, 2007 to pay a dividend of 1.87 euros per share, par value 2.50 euros for the fiscal year 2006, which leaves a balance to be paid of 1.00 euro per share, after deduction of the interim dividend of 0.87 euros paid on November 17, 2006. Paid-in surplus In accordance with French law, the paid-in surplus corresponds to share premiums of the parent company which can be capitalized or used to offset losses if the legal reserve has reached its minimum required level. The amount of the paid-in 204 Appendix 1 – Consolidated financial statements Notes to the consolidated financial statement TOTAL – Registration Document 2006 surplus may also be distributed subject to taxation unless the unrestricted reserves of the parent company are distributed prior to or simultaneously with this item. As of December 31, 2006 paid-in surplus amounted to 31,156 M€ (34,563 M€ as of December 31, 2005). Reserves Under French laws, 5% of net income must be transferred to the legal reserve until the legal reserve reaches 10% of the capital par value. This reserve cannot be distributed to the shareholders other than in liquidation but can be used to offset losses. If wholly distributed, the unrestricted reserves of the parent company would be taxed for an approximate amount of 70 M€ as of December 31, 2006 (70 M€ as of December 31, 2005). Items recognized directly in equity Shareholders’ equity is directly credited of (2,676) M€ in 2006 due to the following items: Amounts (in M€) 2006 2005 Cumulative translation adjustment, Group share (2,595) 2,850 Changes in deferred taxes on treasury shares - 242 Changes in fair value of financial assets available for sale (61) 160 Others 24 16 Group share (2,632) 3,268 Minority interests and preferred shares (44) 51 Total items recognized directly in equity (2,676) 3,319
18) Employee benefits obligations Provisions for employee benefits obligations consist of the following: Appendix 1 – Consolidated financial statements Notes to the consolidated financial statement As of December 31, (in M€) 2006 2005 Pension benefits liabilities 1,918 2,524 Other benefits liabilities 647 718 Restructuring reserves (early retirement plans) 208 171 Total 2,773 3,413 The fair value of the defined benefit obligation and plan assets in the consolidated financial statements is detailed as follows: Pension benefits Other benefits As of December 31 (in M€) 2006 2005 2006 2005 Change in benefit obligation Benefit obligation at beginning of year 9,647 8,117 774 675 Service cost 174 168 11 14 Interest cost 392 411 30 36 Curtailments (6) - (1) - Settlements (243) (14) - - Special termination benefits - - - - Plan participants’ contributions 11 15 - - Benefits paid (444) (436) (36) (48) Plan amendments 17 139 7 2 Actuarial losses (gains) (151) 1,003 (21) 57 Translation adjustment and other (a) (655) 244 (116) 38 Benefit obligation at year-end 8,742 9,647 648 774 Change in fair value of plan assets Fair value of plan assets at beginning of year (6,274) (5,362) - - Expected return on plan assets (353) (356) - - Actuarial losses (gains) (104) (364) - - Settlements 201 12 - - Plan participants’ contributions (11) (15) - - Employer contributions (b) (617) (323) - - Benefits paid 327 337 - - Foreign currency translation and other (c) 430 (203) - - Fair value of plan assets at year-end (6,401) (6,274) - - Unfunded status 2,341 3,373 648 774 Unrecognized prior service cost (149) (171) 23 35 Unrecognized actuarial (losses) gains (423) (777) (24) (91) Asset ceiling 4 5 - - Net recognized amount 1,773 2,430 647 718 Accrued benefit cost 1,918 2,524 647 718 Prepaid benefit cost (145) (94) - - (a) In 2006, the change in foreign currency translation and other includes the spin-off of Arkema which amounts to (587) and (107) M€ of benefit obligation for pension benefits and other pension benefits, respectively. (b) In 2006, the Group covered certain employee pension benefit plans through insurance companies for an amount of 269 M€. (c) In 2006, the change in foreign currency translation and other includes the spin-off of Arkema which amounts to 375 M€ of fair value of plan assets. As of December 31, 2006, the present value of pension benefits and other pension benefits which are entirely or partially funded amounted to 7,358 M€ and the present value of the unfunded benefits amounted to 2,032 M€ (respectively 8,046 M€ and 2,375 M€ as of December 31, 2005). 9 TOTAL – Registration Document 2006 205
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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
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The Committee also worked on the co
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2007 Calendar February 14 Results f
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Financial information Historical fi
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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 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: The variation of the weighted-avera
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
Page 249 and 250: Other information Accounting for ex
Page 251 and 252: Appendix 3 - TOTAL S.A. Special aud
Page 253 and 254: (Free translation of a French langu
Page 255 and 256: 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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