Registration document 2007 - Total.com

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11 15) Financial expenses and income (in M€) 2006 2005 • Interest expenses and other (1,208) (658) • Depreciation on investments and loans to subsidiaries and affiliates - (31) Total financial expenses (1,208) (689) Including, related to affiliates: 895 603 • Net gain on sales of marketable securities and interest on loans to subsidiaries and affiliates 54 78 • Interest on short-term deposits and other 59 31 Total financial income 113 109 Including, related to affiliates: 109 90 Total financial expenses and income (1,095) (580) 16) Dividends (in M€) 2006 2005 Upstream 1,953 729 Downstream 548 706 Chemicals 602 210 Financial activities 3,313 2,930 Total 6,416 4,575 17) Other financial expenses and income The net income of 36 M€ is mainly composed of a net gain on sales of marketable securities for 33 M€, and currency exchange gain for 3M€ 18) Basis of taxation Pursuant to the provisions of the French Tax Code (Article 209 quinquies) and in accordance with a tax agreement from the French Tax Authorities, the Parent Company files a worldwide tax return. This regime provides that the basis for income tax computation of the Parent Company is not limited to French or foreign consolidated subsidiaries or equity affiliates, but also applies to direct or indirect shareholdings over 10% in the Exploration and Production segment and over 50% for other activities. It allows the Parent Company to offset, within certain limits and conditions, the taxable income of profitable companies against the losses of other entities. The renewal of this agreement has been granted by the French Tax Authorities on January 18, 2006 for a three year period (from January 1, 2005 to December 31, 2007). Moreover, TOTAL S.A. has elected for the 95% - owned French subsidiaries tax regime provided for by Articles 223 A and following of the French Tax Code (the so-called “régime de l’intégration fiscale”). In accordance with the integration agreement signed between TOTAL S.A. and its consolidated subsidiaries, the deficits and long-term depreciation realized by the consolidated company during the period of integration are definitively acquired by the Parent Company. 19) Risk management and financial instruments TOTAL S.A. uses various financial instruments to manage its exposure to fluctuations in interest rates and foreign exchange levels. Thereby, the commercial foreign exchange positions are systematically covered by the purchase or sale of the corresponding currencies, mainly with cash transactions and sometimes on forward markets. Regarding long-term assets in foreign currencies, the Company tries to reduce the corresponding exchange risk by associating them, as far as possible, with financing in the same currency. In terms of interest rates, most of the long-term debt is brought back to a variable rate through the use of issue swaps (long-term interest rate and foreign currency swaps). Day to day treasury management is operated on the basis of the daily rates, for instance by using shortterm interest rate swaps. An independent department continually monitors the status of the financial instruments, especially through marked-to-market valuations and sensitivity estimations. A strict control process monitors the counterpart-risk evaluation. More information on the risk management policy appear in Chapter 4 of the this Registration Document (pages 75 to 90). 264 Appendix 3 - TOTAL S.A. Parent company’s statutory financial statements TOTAL - Registration Document 2006
20) Commitments As of December 31 (in M€) 2006 2005 Commitments given Guarantees on custom duties 1,021 - Bank guarantees 3,350 2,387 Guarantees on the liabilities of sold subsidiaries 68 89 Guarantees given on other commitments 2,363 1,824 Stand-by lines of credit granted to subsidiaries 4,017 3,891 Short term financing plan (a) 14,116 17,597 Bond issue plan (a) 15,327 11,444 Total commitments given 40,262 37,232 Commitments received Guarantees on the liabilities of acquired subsidiaries 5,808 6,182 Other commitments received 1 21 Total commitments received 5,809 6,203 (a) TOTAL S.A. guarantees the short-term financing plan and the bond issue incurred by Total Capital. On the whole amount 29,443 M€ plan, 12,602 M€ were incurred as of December 31, 2006 and 9,417 M€ as of December 31, 2005. Portfolio of financial derivative instruments The off-balance sheet commitments related to financial derivatives instruments are stated below. As of December 31 (in M€) 2006 2005 Issue swaps Book value, accrued coupon interest (a) 1,046 1,721 Fair value, accrued coupon interest (b) 209 177 (a) These amounts fix the level of notional commitment without being representative of a potential loss or gain. (b) This value was determined by estimating future cash flows on a borrowing-by-borrowing basis and discounting these future cash flows using the zero coupon interest rate curves at year-end and taking into account a spread that corresponds to the average risk classification of the Group. 21) Average number of employees Appendix 3 - TOTAL S.A. Parent company’s statutory financial statements As of December 31 2006 2005 Executives 4,106 3,867 Supervisors 1,355 1,354 Technical and administrative staff 270 238 Total 5,731 5,459 11 TOTAL - Registration Document 2006 265
Page 1 and 2:
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
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(iii) Portion of intangible assets
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A. Information by business segment
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Appendix 1 - Consolidated financial
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ADJUSTMENTS TO OPERATING INCOME 200
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In 2006, gains and losses on sales
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Property, plant and equipment prese
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14) Other non-current assets As of
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The variation of the weighted-avera
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18) Employee benefits obligations P
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The components of the net periodic
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20) Financial debt and related fina
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Page 215 and 216: Impact on net income The amount of
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Page 219 and 220: Other guarantees given Non-consolid
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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
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Page 231 and 232: As a result of its policy for manag
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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
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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
Page 285 and 286: European Cross Reference List 10. C
Page 288: TOTAL S.A. Registered Office: 2, pl
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Registration document 2007 - Total.com

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