Registration document 2007 - Total.com

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9 31) Other information A) Research and development costs Research and development costs incurred by the Group in 2006 amounted to 569 M€, corresponding to 0.4% of the turnover. The staff dedicated in 2006 to these research and development activities are estimated at 4,091 people. B) Taxes paid to Middle East oil-producing countries for the portion which TOTAL held historically as concessions Taxes paid for the portion that TOTAL held historically as concessions (Abu Dhabi offshore and onshore, Dubai offshore, Oman and Abu Al Bu Khoosh) included in operating expenses amounted to 2,906 M€ in 2006 (2,242 M€ in 2005). C) Emission rights The principles governing the accounting for Emission Rights are presented in the note 1T to the consolidated financial statements. At December 31, 2006, the Emission Rights delivered to Group sites were sufficient with respect to the emissions in 2006. Thus, the Group recognized no provisions for allowances to be returned. 32) Arkema spin-off The spin-off of Arkema led to the distribution of Arkema shares to TOTAL shareholders (other than TOTAL S.A). This operation can be analyzed as an exchange of non-monetary assets for TOTAL S.A. shareholders. As International Financial Reporting Standards (IFRS) does not contain specific rules for this type of transaction, the accounting treatment of the spin-off in TOTAL’s consolidated financial statements has been based on Generally Accepted Accounting Principles in the United States (U.S. GAAP), and more particularly on opinion APB 29 (Accounting Principles Board Opinions) “Accounting for Non-monetary Transactions”. All assets and liabilities which were spun off have been derecognized on the basis of their net book value, with a corresponding decrease of consolidated shareholders’ equity and no impact on the Group’s consolidated net income. The spin-off of Arkema was approved by the Shareholders’ Meeting held on May 12, 2006. Since Arkema’s results for the period between April 1, 2006 and May 12, 2006, were not material, the deconsolidation has been completed on the basis of Arkema book values as of March 31, 2006, also taking into account the capital increase that took place in April 2006. 232 Appendix 1 – Consolidated financial statements Notes to the consolidated financial statement TOTAL – Registration Document 2006 In accordance with IFRS 5 “Non-current assets held for sale and discontinued operations”, the contribution of Arkema entities has been reported as discontinued operations since Arkema can be clearly distinguished and has been spun off in a single and coordinated plan. Financial information related to the Arkema’s contribution to the consolidated accounts is presented below. This contributive information is not directly comparable to the combined and proforma accounts filed by Arkema for the purpose of its listing, as the latter have been based on specific conventions mainly related to the consolidation perimeter, accounting options and indicators. Tax losses of Arkema entities, as they occurred, have been used in the consolidated tax return of the Group.
Appendix 1 – Consolidated financial statements Notes to the consolidated financial statement STATEMENT OF INCOME For the year ended December 31 (in M€) 2006 2005 2004 Revenues from sales 1,497 5,561 5,156 Purchases and other operating expenses (1,377) (5,274) (4,869) Depreciation of tangible assets (53) (404) (627) Operating income 67 (117) (340) Equity in income (loss) of affiliates, others (42) (325) (325) Taxes (30) (19) (33) Net Income (5) (461) (698) BALANCE SHEET As of December 31 (in M€) 2006 (a) 2005 2004 Non-current assets 1,995 2,011 2,160 Working capital 1,501 1,337 1,129 Provisions and other non-current liabilities (1,090) (1,116) (1,230) Capital employed 2,406 2,232 2 059 Net debt (144) (551) (1,221) Shareholders' equity 2,262 1,681 838 (a) Detailed assets and liabilities which have been spun-off as of May 12, 2006. STATEMENT OF CASH FLOW For the year ended December 31 (in M€) 2006 2005 2004 Cash flow from operating activities 53 (348) (41) Cash flow used in investing activities (76) (263) (261) Cash flow from financing activities (109) (18) (17) Net increase/decrease in cash and cash equivalents (132) (629) (319) Effect of exchange rates and changes in reporting entities 113 622 327 Cash and cash equivalents at the beginning of the period 84 91 83 Cash and cash equivalent at the end of the period 65 84 91 Earnings per share and diluted earnings per share are presented below for continuing and discontinued operations EARNINGS PER SHARE (in euros) 2006 2005 2004 Earnings per share of continuing operations 5.13 5.42 4.78 Earnings per share of discontinued operations 0.00 (0.19) (0.28) Earnings per share 5.13 5.23 4.50 DILUTED EARNINGS PER SHARE (In euros) 2006 2005 2004 Diluted earnings per share of continuing operations 5.09 5.39 4.76 Diluted earnings per share of discontinued operations 0.00 (0.19) (0.28) Diluted earnings per share 5.09 5.20 4.48 9 TOTAL – Registration Document 2006 233
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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
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Consolidated statement of cash flow
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On February 13, 2007, the Board of
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G. Earnings per share Earnings per
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equal to the market price. For unli
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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 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: 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
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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
Page 275 and 276: Distribution of earnings 2006 Net d
Page 277 and 278: Social and environmental informatio
Page 279 and 280: AVERAGE COMPENSATION PER MONTH - TO
Page 281 and 282: Environment Pursuant to French law
Page 283 and 284: 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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