TOTAL: Reorganization of Upstream and Supply-Marketing Segments
TOTAL: Reorganization of Upstream and Supply-Marketing Segments
Information of business segments restated for 2010, 2011 and 2012 for Upstream
and Supply-Marketing
Business Wire
PARIS -- October 15, 2012
Regulatory News:
TOTAL (Paris:FP) (LSE:TTA) (NYSE:TOT):
Through June 30, 2012, the Group’s Upstream and Supply-Marketing segments were
defined as follows:
* Upstream included the Exploration and Production of hydrocarbons as well
as the activities of Gas and New Energies ;
* Supply-Marketing included the Group’s worldwide businesses of supplying
and marketing petroleum products.
In November, 2011, the Group launched a study on the organization of the
business activities of Gas and New Energies. Following the
information-consultation procedure concerning affected personnel, this
reorganization became effective on July 1, 2012, and the Group’s Upstream and
Supply-Marketing segments are now defined as follows:
* Upstream includes the Exploration and Production of hydrocarbons as well
as the activities of Gas & Power ;
* Supply-Marketing includes the Group’s worldwide businesses of supplying
and marketing petroleum products as well as the activities of New
Energies.
As a result, information by business segment for certain periods has been
restated according to this new and current organization as of July 1, 2012.
For informational purposes, an extract of annual restated business segment
information for 2010 and 2011 and quarterly restated business segment
information for 2011 and 2012 regarding the Upstream and Supply-Marketing
segments is provided in the following pages.
* * * * *
Total is one of the largest integrated oil and gas companies in the world,
with activities in more than 130 countries. The Group is also a first rank
player in chemicals. Its 96,000 employees put their expertise to work in every
part of the industry – exploration and production of oil and natural gas,
refining and marketing, new energies, trading, and chemicals. Total is working
to help satisfy the global demand for energy, both today and tomorrow.
www.total.com
UPSTREAM
TOTAL
(unaudited)
(M€) 2010 1Q11 2Q11 3Q11 4Q11 2011 1Q12 2Q12 1H12
Non-Group sales 18,526 6,144 5,165 4,770 6,132 22,211 6,177 4,977 11,154
Intersegment 22,540 6,939 6,341 6,571 7,450 27,301 8,234 7,751 15,985
sales
Excise taxes - - - - - - - - -
Revenues from 41,066 13,083 11,506 11,341 13,582 49,512 14,411 12,728 27,139
sales
Operating (18,230 ) (5,922 ) (5,057 ) (4,904 ) (6,011 ) (21,894 ) (6,539 ) (6,190 ) (12,729 )
expenses
Depreciation,
depletion and
amortization of (5,345 ) (1,240 ) (1,100 ) (1,262 ) (1,437 ) (5,039 ) (1,393 ) (1,513 ) (2,906 )
tangible assets
and mineral
interests
Operating 17,491 5,921 5,349 5,175 6,134 22,579 6,479 5,025 11,504
income
Equity in net
income (loss) 1,548 358 542 974 324 2,198 543 448 991
of affiliates
and other items
Tax on net
operating (10,146 ) (3,532 ) (3,281 ) (3,420 ) (3,333 ) (13,566 ) (3,986 ) (2,911 ) (6,897 )
income
Net operating 8,893 2,747 2,610 2,729 3,125 11,211 3,036 2,562 5,598
income
Net cost of net
debt
Non-controlling
interests
Net income
Adjustments
^(a)
(M€) 2010 1Q11 2Q11 3Q11 4Q11 2011 1Q12 2Q12 1H12
Non-Group sales - 84 (55 ) (14 ) 30 45 (25 ) 11 (14 )
Intersegment - - - - - - - - -
sales
Excise taxes - - - - - - - - -
Revenues from - 84 (55 ) (14 ) 30 45 (25 ) 11 (14 )
sales
Operating - - - - - - - (18 ) (18 )
expenses
Depreciation,
depletion and
amortization of (203 ) - - (75 ) - (75 ) - - -
tangible assets
and mineral
interests
Operating (203 ) 84 (55 ) (89 ) 30 (30 ) (25 ) (7 ) (32 )
income^(b)
Equity in net
income (loss) 192 - 168 554 (40 ) 682 - - -
of affiliates
and other items
Tax on net
operating 275 (212 ) 10 (124 ) 283 (43 ) 5 9 14
income
Net operating 264 (128 ) 123 341 273 609 (20 ) 2 (18 )
income^(b)
Net cost of net
debt
Non-controlling
interests
Net income
(a) Adjustments include special items, inventory valuation effect and the effect of changes in
fair value.
(b) Of which
inventory
valuation
effect
On operating - - - - - - - - -
income
On net
operating - - - - - - - - -
income
Adjusted
(M€)^(a) 2010 1Q11 2Q11 3Q11 4Q11 2011 1Q12 2Q12 1H12
Non-Group sales 18,526 6,060 5,220 4,784 6,102 22,166 6,202 4,966 11,168
Intersegment 22,540 6,939 6,341 6,571 7,450 27,301 8,234 7,751 15,985
sales
Excise taxes - - - - - - - - -
Revenues from 41,066 12,999 11,561 11,355 13,552 49,467 14,436 12,717 27,153
sales
Operating (18,230 ) (5,922 ) (5,057 ) (4,904 ) (6,011 ) (21,894 ) (6,539 ) (6,172 ) (12,711 )
expenses
Depreciation,
depletion and
amortization of (5,142 ) (1,240 ) (1,100 ) (1,187 ) (1,437 ) (4,964 ) (1,393 ) (1,513 ) (2,906 )
tangible assets
and mineral
interests
Adjusted
operating 17,694 5,837 5,404 5,264 6,104 22,609 6,504 5,032 11,536
income
Equity in net
income (loss) 1,356 358 374 420 364 1,516 543 448 991
of affiliates
and other items
Tax on net
operating (10,421 ) (3,320 ) (3,291 ) (3,296 ) (3,616 ) (13,523 ) (3,991 ) (2,920 ) (6,911 )
income
Adjusted net
operating 8,629 2,875 2,487 2,388 2,852 10,602 3,056 2,560 5,616
income
Net cost of net
debt
Non-controlling
interests
Ajusted net
income
(a) Except for
per share
amounts.
(M€) 2010 1Q11 2Q11 3Q11 4Q11 2011 1Q12 2Q12 1H12
Total 13,049 5,214 5,888 3,426 6,134 20,662 5,306 4,227 9,533
expenditures
Total 2,067 335 921 936 399 2,591 748 234 982
divestments
Cash flow from
operating 15,617 4,654 4 801 * 4 042 * 3,547 17,044 5,766 5,298 11,064
activities
* Reclassification of -823 M€ in the 2nd quarter, and +823 M€ in the 3rd quarter of intercompany transactions with no
impact on the total of cash flow from operating activities
SUPPLY
MARKETING
TOTAL
(unaudited)
(M€) 2010 1Q11 2Q11 3Q11 4Q11 2011 1Q12 2Q12 1H12
Non-Group sales 75,580 20,489 20,754 22,124 21,958 85,325 21,852 21,519 43,371
Intersegment 677 239 158 218 190 805 231 222 453
sales
Excise taxes (16,616 ) (3,952 ) (4,038 ) (4,136 ) (3,655 ) (15,781 ) (3,588 ) (3,686 ) (7,274 )
Revenues from 59,641 16,776 16,874 18,206 18,493 70,349 18,495 18,055 36,550
sales
Operating (57,613 ) (16,208 ) (16,395 ) (17,766 ) (18,027 ) (68,396 ) (17,988 ) (17,764 ) (35,752 )
expenses
Depreciation,
depletion and
amortization of (506 ) (115 ) (112 ) (129 ) (140 ) (496 ) (122 ) (189 ) (311 )
tangible assets
and mineral
interests
Operating 1,522 453 367 311 326 1,457 385 102 487
income
Equity in net
income (loss) 208 37 (37 ) 118 (495 ) (377 ) (69 ) (14 ) (83 )
of affiliates
and other items
Tax on net
operating (545 ) (120 ) (128 ) (93 ) (97 ) (438 ) (156 ) (62 ) (218 )
income
Net operating 1,185 370 202 336 (266 ) 642 160 26 186
income
Net cost of net
debt
Non-controlling
interests
Net income
Adjustments^(a)
(M€) 2010 1Q11 2Q11 3Q11 4Q11 2011 1Q12 2Q12 1H12
Non-Group sales - - - - - - - - -
Intersegment - - - - - - - - -
sales
Excise taxes - - - - - - - - -
Revenues from - - - - - - - - -
sales
Operating 212 210 20 (1 ) 42 271 63 (148 ) (85 )
expenses
Depreciation,
depletion and
amortization of - - - - (1 ) (1 ) - (46 ) (46 )
tangible assets
and mineral
interests
Operating 212 210 20 (1 ) 41 270 63 (194 ) (131 )
income^(b)
Equity in net
income (loss) 45 7 (49 ) 148 (469 ) (363 ) (21 ) (8 ) (29 )
of affiliates
and other items
Tax on net
operating (53 ) (69 ) (3 ) (6 ) - (78 ) (22 ) 47 25
income
Net operating 204 148 (32 ) 141 (428 ) (171 ) 20 (155 ) (135 )
income^(b)
Net cost of net
debt
Non-controlling
interests
Net income
(a) Adjustments include special items, inventory valuation effect and the effect of changes in fair
value.
(b) Of which
inventory
valuation
effect
On operating 228 210 34 9 34 287 63 (146 ) (83 )
income
On net
operating 169 148 27 3 22 200 40 (99 ) (59 )
income
Adjusted
(M€)^(a) 2010 1Q11 2Q11 3Q11 4Q11 2011 1Q12 2Q12 1H12
Non-Group sales 75,580 20,489 20,754 22,124 21,958 85,325 21,852 21,519 43,371
Intersegment 677 239 158 218 190 805 231 222 453
sales
Excise taxes (16,616 ) (3,952 ) (4,038 ) (4,136 ) (3,655 ) (15,781 ) (3,588 ) (3,686 ) (7,274 )
Revenues from 59,641 16,776 16,874 18,206 18,493 70,349 18,495 18,055 36,550
sales
Operating (57,825 ) (16,418 ) (16,415 ) (17,765 ) (18,069 ) (68,667 ) (18,051 ) (17,616 ) (35,667 )
expenses
Depreciation,
depletion and
amortization of (506 ) (115 ) (112 ) (129 ) (139 ) (495 ) (122 ) (143 ) (265 )
tangible assets
and mineral
interests
Adjusted
operating 1,310 243 347 312 285 1,187 322 296 618
income
Equity in net
income (loss) 163 30 12 (30 ) (26 ) (14 ) (48 ) (6 ) (54 )
of affiliates
and other items
Tax on net
operating (492 ) (51 ) (125 ) (87 ) (97 ) (360 ) (134 ) (109 ) (243 )
income
Adjusted net
operating 981 222 234 195 162 813 140 181 321
income
Net cost of net
debt
Non-controlling
interests
Ajusted net
income
(a) Except for
per share
amounts.
(M€) 2010 1Q11 2Q11 3Q11 4Q11 2011 1Q12 2Q12 1H12
Total 1,019 109 1,132 48 545 1,834 198 212 410
expenditures
Total 83 21 27 1,380 527 1,955 45 20 65
divestments
Cash flow from
operating 1,105 (55 ) (54 ) 516 134 541 (444 ) (140 ) (584 )
activities
Contact:
TOTAL S.A.
Martin DEFFONTAINES
Matthieu GOT
Karine KACZKA
Robert PERKINS
Magali PAILHE
Tel. : (33) 1 47 44 58 53
Fax : (33) 1 47 44 58 24
or
Robert HAMMOND (U.S.)
Tel. : (1) 713-483-5070
Fax : (1) 713-483-5629
www.total.com
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