Registration document 2007 - Total.com

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9 E) Share-based payment expenses Share-based payment expenses for the year 2006 amounted to 157 M€ and can be broken down as follow: • 74 M€ for TOTAL share subscription and share purchase plans; • 83 M€ for TOTAL restricted shares plan. Share-based payment expenses for the year 2005 amounted to 131 M€ and can be broken down as follow: • 86 M€ for TOTAL share subscription purchase plans; • 25 M€ for TOTAL restricted shares plan; • 20 M€ for TOTAL for capital increase reserved for employees (note 17 to the consolidated financial statements). 220 Appendix 1 – Consolidated financial statements Notes to the consolidated financial statement D) Grant of TOTAL restricted shares 2005 Plan (a)(b) 2006 Plan (c) Date of Board of Directors meeting 07/19/2005 07/18/2006 Number of restricted shares Outstanding as of January 1, 2005 - - Notified 2,280,520 - Cancelled (5,992) - Finally granted - - Outstanding as of January 1, 2006 2,274,528 - Notified - 2,275,364 Cancelled (7,432) (3,068) Finally granted - - Outstanding as of December 31, 2006 2,267,096 2,272,296 (a) Grants decided by the Board of Directors on July 19, 2005 pursuant to the authorization given by the Shareholders’ Meeting held on May 17, 2005.The grant of these shares, which have been bought back in 2005 by the Company on the market, will become final after a two-year vesting period (acquisition of the right to restricted shares) on July 20, 2007, subject to a performance condition. This condition states that the number of restricted shares finally granted will be based on the Return On Equity (ROE) of the Group. The ROE will be calculated on the consolidated accounts published by TOTAL and related to the fiscal year preceding the year of the final grant, in the present case fiscal 2006. Moreover, the transfer of the restricted shares, that might hence be finally granted, will not be permitted between the date of final grant and the end of a two-year mandatory holding period, on July 20, 2009. (b) The number of restricted shares was multiplied by four to consider the four-for-one stock split on May 18, 2006. (c) Grants decided by the Board of Directors on July 18, 2006 pursuant to the authorization given by the Shareholders’ meeting held on May 17, 2005. The grant of these shares, which have been bought back in 2006 by the Company on the market, will become final after a two-year vesting period (acquisition of the right to restricted shares) on July 19, 2008, subject to a performance condition. This condition states that the number of restricted shares finally granted will be based on the Return On Equity (ROE) of the Group. The ROE will be calculated on the consolidated accounts published by TOTAL and related to the fiscal year preceding the year of the final grant, in the present case fiscal 2007. Moreover, the transfer of the restricted shares, that might hence be finally granted, will not be permitted between the date of final grant and the end of a two-year mandatory holding period, on July 19, 2010. TOTAL – Registration Document 2006 Share-based payment expenses for the year 2004 amounted to 138 M€ and can be broken down as follow: • 118 M€ for TOTAL share subscription and share purchase plans; • 20 M€ for TOTAL for capital increase reserved for employees. The fair value of the options granted in 2006, 2005 and 2004 has been valued according to the Black & Scholes method and based on the following hypothesis: For the year ended December 31 2006 2005 2004 Risk free interest rate (%) 4.1 2.9 3.8 Expected dividends (%) 4.2 3.7 3.0 Expected volatility (%) (a) 29.3 23.2 22.0 Vesting period (years) 2 2 2 Exercise period (years) 8 8 8 Weighted-average fair value of the granted options (€ per option) (b) 11.3 10.0 7.8 (a) The expected volatility is based on the implied volatility of TOTAL shares options and of share indices options traded on the markets. (b) The amounts for 2004 and 2005 have been restated pursuant to the four-for-one stock split of May 18, 2006.
25) Payroll and staff For the year ended December 31, (in M€) 2006 2005 2004 Personnel expenses (a) Wages and salaries (including social charges) 5,828 5,610 5,057 Group employees (a) France Management 10,313 9,958 9,620 Other 27,518 27,817 28,149 International Management 13,263 13,455 12,754 Other 43,976 43,824 42,494 Total 95,070 95,054 93,017 (a) Number of employees and personnel expenses of fully consolidated subsidiaries (excluding Arkema). 26) Statement of cash flows A) Non-current financial debt Changes in non-current financial debt have been presented as the net variation to reflect significant changes mainly related to revolving credit agreements. The detailed analysis is as follows: For the year ended December 31, (in M€) 2006 2005 Issuance of non-current debt 3,857 2,910 Repayment of non-current debt (135) (32) Net amount 3,722 2,878 B) Changes in working capital For the year ended December 31, (in M€) 2006 2005 Inventories (500) (2,971) Accounts receivable 494 (4,712) Prepaid expenses and other current assets (1,425) (991) Accounts payable 141 3,575 Other creditors and accrued liabilities 849 1,097 Net amount (441) (4,002) C) Additional information on cash flow Appendix 1 – Consolidated financial statements Notes to the consolidated financial statement For the year ended December 31, (in M€) 2006 2005 Interest paid (1,648) (985) Interest received 1,261 826 Income tax on cashed out profits (10,439) (8,159) Dividends received 899 758 9 TOTAL – Registration Document 2006 221
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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
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General information Share capital p
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Pursuant to this authorization, the
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Potential capital as of December 31
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General information Share capital J
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Directors’ Charter and Committees
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Other matters Employee incentives a
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Information on holdings General inf
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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 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 221: Appendix 1 - Consolidated financial
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
Page 257 and 258: Statement of changes in Shareholder
Page 259 and 260: 2) Property, plant and equipment As
Page 261 and 262: 6) Shareholders’ equity A) Common
Page 263 and 264: 7) Contingency reserves As of Decem
Page 265 and 266: 11) Translation adjustment The appl
Page 267 and 268: 20) Commitments As of December 31 (
Page 269 and 270: TOTAL share purchase options plans
Page 271 and 272: 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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