Registration document 2007 - Total.com

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9 27) Fair value of financial instruments A) Financial instruments not related to commodity contracts The difference between the carrying amount in the balance sheet and the fair value of financial instruments is as follows: As of December 31, (in M€) 2006 2005 ASSETS/(LIABILITIES) Carrying amount Fair Value Carrying amount Fair Value Publicly traded equity securities 304 304 469 469 Other equity securities 946 946 1,047 1,047 Other investments (note 13) 1,250 1,250 1,516 1,516 Loans and advances (note 14) 1,025 1,025 1,202 1,202 Debenture loans (non-current portion, before swaps) (a) (11,413) (11,413) (11,025) (11,025) Issue swaps and swaps hedging debenture loans) (liabilities) (b) (193) (193) (128) (128) Issue swaps and swaps hedging debenture loans) (assets) (b) 486 486 450 450 Debenture loans after swaps (non-current portion) (note 20 A) (11,120) (11,120) (10,703) (10,703) Bank and other loans, before swaps (non current portion) - floating rate (a) (1,987) (1,987) (1,847) (1,847) Non-current currency and interest rate swaps hedging bank loans (b) - - 27 27 Bank and other loans, after swaps - floating rate (non current portion) (note 20 A) (1,987) (1,987) (1,820) (1,820) Bank and other loans (non current portion) - fixed rate (a) (note 20 A) (210) (207) (411) (406) Finance lease obligations (non-current portion) (a) (notes 20A and 22) (371) (371) (382) (382) Debenture loans (current portion, before swaps) (2,320) (2,320) (624) (624) Bank and other loans (except finance lease obligations (current portion) (161) (161) (334) (333) Finance lease obligations (current portion) (note 22) (29) (29) (34) (34) Issue swaps and swaps hedging debenture loans (fixed rate) (current portion) (assets) 341 341 44 44 Issue swaps and swaps hedging debenture loans (fixed rate) (current portion) (liabilities) - - (6) (6) Current portion of non-current financial debt (note 20 B) after swaps (2,169) (2,169) (954) (953) Current deposit beyond 3 months 3,496 3,496 Other interest rates swaps - assets 12 12 7 7 Currency swaps and forward exchange contracts - assets (c) 59 59 283 283 Current financial assets held for trading (note 20 B) 3,567 3,567 290 290 Other interest rates swaps - liabilities (8) (8) (4) (4) Currency swaps and forward exchange contracts - liabilities (c) (67) (67) (23) (23) Current financial liabilities held for trading (note 20 B) (75) (75) (27) (27) Total (10,090) (10,087) (11,289) (11,283) Total of fair value not recognized in the balance sheet 3 6 (a) Included in “Non-current financial debt” in note 20A to the consolidated financial statements. (b) Included in “Hedging instruments of non-current financial debt” in note 20A to the consolidated financial statements. (c) Currency swaps are used to manage TOTAL’s current position to be able to borrow or to invest on markets other than the euro market. Therefore their market values, when significant, are compensated by the value of the current financial loans and debts to which they relate. 222 Appendix 1 – Consolidated financial statements Notes to the consolidated financial statement TOTAL – Registration Document 2006
The classification by strategy and the notional amount of the derivative instruments included in the table above is as follows: As of December 31, 2006 (in M€) Notional amount (a) ASSETS/(LIABILITES) Financial instruments hedging non-current financial debt Issue swaps and swap hedging debenture issues Fair Value Total 2007 2008 2009 2010 2011 2012 and after - non-current (assets) Issue swaps and swap hedging debenture (193) 5,691 issues - non-current (assets) Issue swaps and swap hedging debenture 486 5,317 issues - non-current 293 11,008 1,756 2,018 1,870 2,740 2,624 Non-current currency and interest rate swaps hedging bank loans Issue swaps and swap hedging debenture issues - less than one year (liabilities) Issue swaps and swap hedging debenture issues 475 - less than one year (assets) Issue swaps and swap hedging debenture issues 341 1,341 - less than one year 341 1,816 1,816 Financial instruments hedging net investment N/A Financial instruments held for trading Current deposits beyond 3 months 3,496 3,496 3,496 Other interest rate swaps - assets 12 6,488 Other interest rate swaps - liabilities (8) 9,580 Other swaps assets and liabilities 4 16,068 16,062 4 2 Currency swaps and forward exchange contracts - assets Currency swaps and forward exchange 59 5,003 contracts - liabilities Currency swaps and forward exchange contracts (67) 6,065 - assets and liabilities (8) 11,068 10,513 287 201 45 22 (a) These amounts set the levels of notional involvement and are not indicative of a contingent gain or loss. Appendix 1 – Consolidated financial statements Notes to the consolidated financial statement 9 TOTAL – Registration Document 2006 223
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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
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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 223: 25) Payroll and staff For the year
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
Page 273 and 274: 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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