Reorganization of Upstream and Supply-Marketing Segments

15th Oct 2012 08:00

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 sales		22,540			6,939			6,341			6,571			7,450			27,301			8,234			7,751			15,985
Excise taxes		-			-			-			-			-			-			-			-			-
Revenues from sales		41,066			13,083			11,506			11,341			13,582			49,512			14,411			12,728			27,139
Operating expenses		(18,230	)		(5,922	)		(5,057	)		(4,904	)		(6,011	)		(21,894	)		(6,539	)		(6,190	)		(12,729	)
Depreciation, depletion and amortization of tangible assets and mineral interests		(5,345	)		(1,240	)		(1,100	)		(1,262	)		(1,437	)		(5,039	)		(1,393	)		(1,513	)		(2,906	)
Operating income		17,491			5,921			5,349			5,175			6,134			22,579			6,479			5,025			11,504
Equity in net income (loss) of affiliates and other items		1,548			358			542			974			324			2,198			543			448			991
Tax on net operating income		(10,146	)		(3,532	)		(3,281	)		(3,420	)		(3,333	)		(13,566	)		(3,986	)		(2,911	)		(6,897	)
Net operating income		8,893			2,747			2,610			2,729			3,125			11,211			3,036			2,562			5,598
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 sales		-			84			(55	)		(14	)		30			45			(25	)		11			(14	)
Operating expenses		-			-			-			-			-			-			-			(18	)		(18	)
Depreciation, depletion and amortization of tangible assets and mineral interests		(203	)		-			-			(75	)		-			(75	)		-			-			-
Operating income(b)		(203	)		84			(55	)		(89	)		30			(30	)		(25	)		(7	)		(32	)
Equity in net income (loss) of affiliates and other items		192			-			168			554			(40	)		682			-			-			-
Tax on net operating income		275			(212	)		10			(124	)		283			(43	)		5			9			14
Net operating income(b)		264			(128	)		123			341			273			609			(20	)		2			(18	)
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 sales		22,540			6,939			6,341			6,571			7,450			27,301			8,234			7,751			15,985
Excise taxes		-			-			-			-			-			-			-			-			-
Revenues from sales		41,066			12,999			11,561			11,355			13,552			49,467			14,436			12,717			27,153
Operating expenses		(18,230	)		(5,922	)		(5,057	)		(4,904	)		(6,011	)		(21,894	)		(6,539	)		(6,172	)		(12,711	)
Depreciation, depletion and amortization of tangible assets and mineral interests		(5,142	)		(1,240	)		(1,100	)		(1,187	)		(1,437	)		(4,964	)		(1,393	)		(1,513	)		(2,906	)
Adjusted operating income		17,694			5,837			5,404			5,264			6,104			22,609			6,504			5,032			11,536
Equity in net income (loss) of affiliates and other items		1,356			358			374			420			364			1,516			543			448			991
Tax on net operating income		(10,421	)		(3,320	)		(3,291	)		(3,296	)		(3,616	)		(13,523	)		(3,991	)		(2,920	)		(6,911	)
Adjusted net operating income		8,629			2,875			2,487			2,388			2,852			10,602			3,056			2,560			5,616
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 expenditures		13,049			5,214			5,888			3,426			6,134			20,662			5,306			4,227			9,533
Total divestments		2,067			335			921			936			399			2,591			748			234			982
Cash flow from operating activities		15,617			4,654			4 801 *			4 042 *			3,547			17,044			5,766			5,298			11,064
* 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 sales		677			239			158			218			190			805			231			222			453
Excise taxes		(16,616	)		(3,952	)		(4,038	)		(4,136	)		(3,655	)		(15,781	)		(3,588	)		(3,686	)		(7,274	)
Revenues from sales		59,641			16,776			16,874			18,206			18,493			70,349			18,495			18,055			36,550
Operating expenses		(57,613	)		(16,208	)		(16,395	)		(17,766	)		(18,027	)		(68,396	)		(17,988	)		(17,764	)		(35,752	)
Depreciation, depletion and amortization of tangible assets and mineral interests		(506	)		(115	)		(112	)		(129	)		(140	)		(496	)		(122	)		(189	)		(311	)
Operating income		1,522			453			367			311			326			1,457			385			102			487
Equity in net income (loss) of affiliates and other items		208			37			(37	)		118			(495	)		(377	)		(69	)		(14	)		(83	)
Tax on net operating income		(545	)		(120	)		(128	)		(93	)		(97	)		(438	)		(156	)		(62	)		(218	)
Net operating income		1,185			370			202			336			(266	)		642			160			26			186
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 expenses		212			210			20			(1	)		42			271			63			(148	)		(85	)
Depreciation, depletion and amortization of tangible assets and mineral interests		-			-			-			-			(1	)		(1	)		-			(46	)		(46	)
Operating income(b)		212			210			20			(1	)		41			270			63			(194	)		(131	)
Equity in net income (loss) of affiliates and other items		45			7			(49	)		148			(469	)		(363	)		(21	)		(8	)		(29	)
Tax on net operating income		(53	)		(69	)		(3	)		(6	)		-			(78	)		(22	)		47			25
Net operating income(b)		204			148			(32	)		141			(428	)		(171	)		20			(155	)		(135	)
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		228			210			34			9			34			287			63			(146	)		(83	)
On net operating income		169			148			27			3			22			200			40			(99	)		(59	)
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 sales		677			239			158			218			190			805			231			222			453
Excise taxes		(16,616	)		(3,952	)		(4,038	)		(4,136	)		(3,655	)		(15,781	)		(3,588	)		(3,686	)		(7,274	)
Revenues from sales		59,641			16,776			16,874			18,206			18,493			70,349			18,495			18,055			36,550
Operating expenses		(57,825	)		(16,418	)		(16,415	)		(17,765	)		(18,069	)		(68,667	)		(18,051	)		(17,616	)		(35,667	)
Depreciation, depletion and amortization of tangible assets and mineral interests		(506	)		(115	)		(112	)		(129	)		(139	)		(495	)		(122	)		(143	)		(265	)
Adjusted operating income		1,310			243			347			312			285			1,187			322			296			618
Equity in net income (loss) of affiliates and other items		163			30			12			(30	)		(26	)		(14	)		(48	)		(6	)		(54	)
Tax on net operating income		(492	)		(51	)		(125	)		(87	)		(97	)		(360	)		(134	)		(109	)		(243	)
Adjusted net operating income		981			222			234			195			162			813			140			181			321
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 expenditures		1,019			109			1,132			48			545			1,834			198			212			410
Total divestments		83			21			27			1,380			527			1,955			45			20			65
Cash flow from operating activities		1,105			(55	)		(54	)		516			134			541			(444	)		(140	)		(584	)

TOTAL S.A.Martin DEFFONTAINESMatthieu GOTKarine KACZKARobert PERKINSMagali PAILHETel. : (33) 1 47 44 58 53Fax : (33) 1 47 44 58 24orRobert HAMMOND (U.S.)Tel. : (1) 713-483-5070Fax : (1) 713-483-5629www.total.com

Copyright Business Wire 2012

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