Reorganization of Upstream and Supply-Marketing...

Information of business segments restated for 2010, 2011 and 2012 for Upstream and Supply-Marketing

Reorganization of Upstream and Supply-Marketing Segments

TOTAL S.A.

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 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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