CSR Analysts

Economic Indicators

Economic


Unit20092010 2011
Sales
M€ 131 327 159 269  184 693
Adjusted operating income from business segments (1) M€ 14 154 19 797  24 409
Adjusted net operating income from business segments (1)
M€ 7 607 10 622
 12 263
Adjusted net income (Group share) (1) M€ 7 784 10 288
 11 424
Adjusted fully-diluted earnings per share (1) (2)  3,48  4,48  5,06
Dividend per share (3)
2,28 2,28  2,28
Net-debt-to-equity ratio (as of December 31) % 27 22  23
Return on average capital employed (ROACE) (4) % 13 16  16
Return on equity (ROE) % 16 19  18
Cash flow from operating activities M€ 12 360 18 493
 19 536
Capital expenditure M€ 13 349  16 273   24 541
Divestitures at selling prices M€ 3 081 4 316
 8 578

1. 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.
2. Based on the average weighted diluted shares outstanding during the year.
3. 2011 dividend; subject to approval at the Annual Shareholders’ Meeting on May 11, 2012.
4. Calculated based on adjusted net operating income and average capital employed, using replacement cost.