Group Presentation

Text size
- -A
- +A

Financial Data & Operating Highlights

Selected financial information *

Selected financial information *
	2012	2011	2010
Sales	200,061	184,693	159,269
Adjusted operating income from business segments ^(a)	24,986	24,409	19,797
Corporate income tax ^(b)	13,066	14,073	10,228
Adjusted net operating income from business segments ^(a)	13,437	12,263	10,622
Adjusted net income (Group share) ^(a)	12,361	11,424	10,288
Fully-diluted adjusted earnings per share (euros) ^{(a) (c)}	2,267	2,257	2,2445
Dividend per share (in €) ^(d)	2.34	2.28	2.28
Net-debt-to-equity (as of December 31)	21%	23%	22%
Return on Average Capital Employed (ROACE)^(e)	16%	16%	16%
Return on equity	18%	18%	19%
Cash flow from operating activities	22,462	19,536	18,493
Investments^(f)	22,943	24,541	16,273
Divestments	5,871	8,578	4,316

(a) Adjusted results are defined as income using replacement cost, adjusted for special items, excluding the impact of changes for fair value from January 1, 2011, and, through June 30, 2010, excluding Total’s equity share of adjustments related to Sanofi.
(b) Since 1966, Total is taxed under the consolidated profit system, granted under three-year agreements by the Ministry of the Economy, Finance and Industry. Total’s average taxation rate in 2012 is 56.2%.
(c) Based on the fully-diluted weighted-average number of common shares outstanding during the period.
(d) Dividend 2012: pending approval at the May 17, 2013 Annual Shareholders’ Meeting.
(e) Based on adjusted net operating income and average capital employed at replacement cost (excluding after-tax inventory effect).
(f) Including acquisitions.

* Source: Registration Document 2012

Operating and market data *

Operating and market data
	2012	2011	2010
Brent price ($/b)	111.7	111.3	79.5
Euro-dollar exchange rate	1.28	1.39	1.33
European Refinery Margin Indicator (ERMI) ($/t)^(a) ($/t)	36.0	17.4	27.4

Hydrocarbon production (kboe/d)	2,300	2,346	2,378
Liquids production (kb/d)	1,220	1,226	1,340
Gas production (Mcf/d)	5,880	6,098	5,648
Refinery throughput (kb/d) ^(b)	1,786	1,863	2,009
Refined product sales (kb/d) ^(c)	3,403	3,639	3,776

(a) ERMI (European Refining Margin Indicator) has replaced TRCV as the European refining margin indicator, as announced by TOTAL on January 15, 2010 in the publication ofits 4th quarter indicators. In view of market changes over the past years (particularly in terms of refinery complexity, crude feedstock and product runs) the ERMI should bemore representative of the margin on average variable costs for a theoretical European refinery.
(b) Includes share of CEPSA through July 31, 2011, and, starting October 2010, of TotalErg.
(c) Including Trading and refinery bulk sales

* Source: Registration Document 2012

Abréviations
b ....................... barrel	Btu ................. British thermal unit
MWp ................ megawatt peak	cf .................... cubic feet
boe .................. barrel of oil equivalent	TWh ............... terawatt-hour
/d ..................... per day	kboe/d ........... thousand boe/d
/y ...................... per year	kb/d ................ thousand barrel/d
€ ...................... euro	M .................... million
$. and/or dollar.....US dollar	B .................... billion
MW .................. megawatt	t ...................... metric ton
LNG................. Liquefied natural gas	API................. American Petroleum Institute
IFRS................ international Financial Reporting Standards
LPG................. Liquefied petroleum gas

Conversion table
1 boe = 1 barrel of crude oil = approx. 5,434 cf of gas in 2012	1 m³ = approx. 35.3 cf
1 b/d = approx. 50 t/year	1 t of LNG = approx. 8.9 boe = approx. 48 Mcf of gas
1 t = approx. 7.5 b (for a gravity of 37°API)	1 Mt/y of LNG = approx. 131 Mcf/d
1 Bm³/y = approx. 0.1 Bcf/d