Total financial statements

Fourth quarter and full year 2009 consolidated accounts, IFRS

CONSOLIDATED STATEMENT OF INCOME
TOTAL
(unaudited)

4th quarter 3rd quarter 4th quarter

2009 2009 2008
(M€) (a)

Sales 36,228 33,628 38,714

Excise taxes (4,933) (4,812) (5,009)
Revenues from sales 31,295 28,816 33,705

Purchases, net of inventory variation (20,590) (18,940) (26,393)

Other operating expenses (4,684) (4,508) (5,122)
Exploration costs (237) (130) (227)
Depreciation, depletion and amortization of tangible assets and mineral interests (1,927) (1,599) (1,748)
Other income 123 70 94
Other expense (202) (95) (123)

Financial interest on debt (111) (108) (298)

Financial income from marketable securities & cash equivalents 16 21 117
Cost of net debt (95) (87) (181)

Other financial income 177 67 243

Other financial expense (92) (90) (95)

Equity in income (loss) of affiliates 384 398 31

Income taxes (2,045) (1,927) (960)

Consolidated net income 2,107 1,975 (776)
Group share* 2,065 1,923 (794)
Minority interests 42 52 18
Earnings per share (€) 0.93 0.86 (0.36)
Fully-diluted earnings per share (€)** 0.92 0.86 (0.36)

* Adjusted net income 2,081 1,869 2,873

** Adjusted fully-diluted earnings per share (€) 0.93 0.84 1.29

(a) Except for per share amounts.

CONSOLIDATED STATEMENT OF INCOME
TOTAL
(unaudited)

Year Year
(a) 2009 2008
(M€)

Sales 131,327 179,976

Excise taxes (19,174) (19,645)
Revenues from sales 112,153 160,331

Purchases, net of inventory variation (71,058) (111,024)

Other operating expenses (18,591) (19,101)
Exploration costs (698) (764)
Depreciation, depletion and amortization of tangible assets and mineral interests (6,682) (5,755)
Other income 314 369
Other expense (600) (554)

Financial interest on debt (530) (1,000)

Financial income from marketable securities & cash equivalents 132 473
Cost of net debt (398) (527)

Other financial income 643 728

Other financial expense (345) (325)

Equity in income (loss) of affiliates 1,642 1,721

Income taxes (7,751) (14,146)

Consolidated net income 8,629 10,953
Group share* 8,447 10,590
Minority interests 182 363
Earnings per share (€) 3.79 4.74
Fully-diluted earnings per share (€)** 3.78 4.71

* Adjusted net income 7,784 13,920

** Adjusted fully-diluted earnings per share (€) 3.48 6.20

(a) Except for per share amounts.

CONSOLIDATED BALANCE SHEET
TOTAL

December 31, September 30, December 31,

2009 2009 2008
(M€) (unaudited)

ASSETS

Non-current assets
Intangible assets, net 7,514 5,845 5,341
Property, plant and equipment, net 51,590 49,292 46,142
Equity affiliates : investments and loans 13,624 13,685 14,668
Other investments 1,162 1,187 1,165
Hedging instruments of non-current financial debt 1,025 983 892
Other non-current assets 3,081 3,179 3,044

Total non-current assets 77,996 74,171 71,252

Current assets
Inventories, net 13,867 12,002 9,621
Accounts receivable, net 15,719 14,198 15,287
Other current assets 8,198 8,141 9,642
Current financial assets 311 329 187
Cash and cash equivalents 11,662 13,775 12,321

Total current assets 49,757 48,445 47,058

Total assets 127,753 122,616 118,310

LIABILITIES & SHAREHOLDERS' EQUITY

Shareholders' equity
Common shares 5,871 5,869 5,930
Paid-in surplus and retained earnings 55,372 53,136 52,947
Currency translation adjustment (5,069) (5,744) (4,876)
Treasury shares (3,622) (3,641) (5,009)

Total shareholders' equity - Group Share 52,552 49,620 48,992

Minority interests 987 959 958

Total shareholders' equity 53,539 50,579 49,950

Non-current liabilities
Deferred income taxes 8,948 8,894 7,973
Employee benefits 2,040 2,013 2,011
Provisions and other non-current liabilities 9,381 7,936 7,858

Total non-current liabilities 20,369 18,843 17,842

Non-current financial debt 19,437 19,146 16,191

Current liabilities
Accounts payable 15,383 13,916 14,815
Other creditors and accrued liabilities 11,908 13,951 11,632
Current borrowings 6,994 6,012 7,722
Other current financial liabilities 123 169 158

Total current liabilities 34,408 34,048 34,327

Total Liabilities and shareholders' equity 127,753 122,616 118,310

CONSOLIDATED STATEMENT OF CASH FLOW
TOTAL
(unaudited)

th rd th
4 quarter 3 quarter 4 quarter
2009 2009 2008
(M€)

CASH FLOW FROM OPERATING ACTIVITIES

Consolidated net income 2,107 1,975 (776)
Depreciation, depletion and amortization 2,061 1,673 1,853
Non-current liabilities, valuation allowances and deferred taxes (82) 310 (435)
Impact of coverage of pension benefit plans - - (505)
(Gains) losses on sales of assets (104) (50) (28)
Undistributed affiliates' equity earnings (148) (232) 263
(Increase) decrease in working capital (1,968) 870 3,635
Other changes, net 23 (8) 86
Cash flow from operating activities 1,889 4,538 4,093

CASH FLOW USED IN INVESTING ACTIVITIES

Intangible assets and property, plant and equipment additions (3,204) (2,849) (3,987)
Acquisitions of subsidiaries, net of cash acquired (4) - (368)
Investments in equity affiliates and other securities (52) (133) (136)
Increase in non-current loans (264) (274) (267)
Total expenditures (3,524) (3,256) (4,758)
Proceeds from disposal of intangible assets and property, plant and equipment 19 4 73
Proceeds from disposal of subsidiaries, net of cash sold - - -
Proceeds from disposal of non-current investments 802 698 659
Repayment of non-current loans 123 105 211
Total divestments 944 807 943
Cash flow used in investing activities (2,580) (2,449) (3,815)

CASH FLOW (FROM)/USED FINANCING ACTIVITIES

Issuance (repayment) of shares:

- Parent company shareholders 22 5 4
- Treasury shares 19 1 (144)
- Minority shareholders - - 6
Cash dividends paid:
- Parent company shareholders (2,545) - (2,541)
- Minority shareholders (59) 15 (86)
Net issuance (repayment) of non-current debt 1,285 (617) (435)
Increase (decrease) in current borrowings (109) (1,948) 2,244
Increase (decrease) in current financial assets and liabilities (54) - 29
Cash flow (from) / used in financing activities (1,441) (2,544) (923)
Net increase (decrease) in cash and cash equivalents (2,132) (455) (645)
Effect of exchange rates 19 (69) (265)
Cash and cash equivalents at the beginning of the period 13,775 14,299 13,231
Cash and cash equivalents at the end of the period 11,662 13,775 12,321
CONSOLIDATED STATEMENT OF CASH FLOW
TOTAL
(unaudited)

Year Year
2009 2008
(M€)

CASH FLOW FROM OPERATING ACTIVITIES

Consolidated net income 8,629 10,953
Depreciation, depletion and amortization 7,107 6,197
Non-current liabilities, valuation allowances and deferred taxes 441 (150)
Impact of coverage of pension benefit plans - (505)
(Gains) losses on sales of assets (200) (257)
Undistributed affiliates' equity earnings (378) (311)
(Increase) decrease in working capital (3,316) 2,571
Other changes, net 77 171
Cash flow from operating activities 12,360 18,669

CASH FLOW USED IN INVESTING ACTIVITIES

Intangible assets and property, plant and equipment additions (11,849) (11,861)
Acquisitions of subsidiaries, net of cash acquired (160) (559)
Investments in equity affiliates and other securities (400) (416)
Increase in non-current loans (940) (804)
Total expenditures (13,349) (13,640)
Proceeds from disposal of intangible assets and property, plant and equipment 138 130
Proceeds from disposal of subsidiaries, net of cash sold - 88
Proceeds from disposal of non-current investments 2,525 1,233
Repayment of non-current loans 418 1,134
Total divestments 3,081 2,585
Cash flow used in investing activities (10,268) (11,055)

CASH FLOW (FROM)/USED FINANCING ACTIVITIES

Issuance (repayment) of shares:

- Parent company shareholders 41 262
- Treasury shares 22 (1,189)
- Minority shareholders - (4)
Cash dividends paid:
- Parent company shareholders (5,086) (4,945)
- Minority shareholders (189) (213)
Net issuance (repayment) of non-current debt 5,522 3,009
Increase (decrease) in current borrowings (3,124) 1,437
Increase (decrease) in current financial assets and liabilities (54) 850
Cash flow (from) / used in financing activities (2,868) (793)
Net increase (decrease) in cash and cash equivalents (776) 6,821
Effect of exchange rates 117 (488)
Cash and cash equivalents at the beginning of the period 12,321 5,988
Cash and cash equivalents at the end of the period 11,662 12,321
CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY
TOTAL

(unaudited)

Common shares issued Paid-in Treasury shares

Currency Shareholders' Total
surplus and Minority
translation equity Group shareholders'
retained interests
adjustment Share equity
(M€) Number Amount earnings Number Amount

As of January 1, 2008 2,395,532,097 5,989 48,797 (4,396) (151,421,232) (5,532) 44,858 842 45,700

Net income 2008 - - 10,590 - - - 10,590 363 10,953

Other comprehensive Income - - (258) (480) - - (738) (34) (772)

Comprehensive Income - - 10,332 (480) - - 9,852 329 10,181

Dividend - - (4,945) - - - (4,945) (213) (5,158)

Issuance of common shares 6,275,977 16 246 - - - 262 - 262

Purchase of treasury shares - - - - (27,600,000) (1,339) (1,339) - (1,339)

Sale of treasury shares (1) - - (71) - 5,939,137 221 150 - 150

Share-based payments - - 154 - - - 154 - 154

Other operations with minority interests - - - - - - - - -

Share cancellation (30,000,000) (75) (1,566) - 30,000,000 1,641 - - -

Transactions with shareholders (23,724,023) (59) (6,182) - 8,339,137 523 (5,718) (213) (5,931)

As of December 31, 2008 2,371,808,074 5,930 52,947 (4,876) (143,082,095) (5,009) 48,992 958 49,950

Net income 2009 - - 8,447 - - - 8,447 182 8,629

Other comprehensive Income - - 246 (193) - - 53 60 113

Comprehensive Income - - 8,693 (193) - - 8,500 242 8,742

Dividend - - (5,086) - - - (5,086) (189) (5,275)

Issuance of common shares 1,414,810 3 38 - - - 41 - 41

Purchase of treasury shares - - - - - - - - -

Sale of treasury shares (1) - - (143) - 2,874,905 165 22 - 22

Share-based payments - - 106 - - - 106 - 106

Other operations with minority interests - - (23) - - - (23) (24) (47)

Share cancellation (24,800,000) (62) (1,160) - 24,800,000 1,222 - - -

Transactions with shareholders (23,385,190) (59) (6,268) - 27,674,905 1,387 (4,940) (213) (5,153)

As of December 31, 2009 2,348,422,884 5,871 55,372 (5,069) (115,407,190) (3,622) 52,552 987 53,539

(1) Treasury shares related to the stock option purchase plans and restricted stock grants
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (a)

TOTAL
(unaudited)

Year Year
(M€) 2009 2008

Net income 8,629 10,953

Other comprehensive income

Currency translation adjustment (244) (722)
Available for sale financial assets 38 (254)
Cash flow hedge 128 -
Share of other comprehensive income of associates, net amount 234 173
Other (5) 1

Tax effect (38) 30

Total other comprehensive income (net amount) 113 (772)

Comprehensive income 8,742 10,181

- Group share 8,500 9,852
- Minority interests 242 329

(a) In accordance with revised IAS 1, applicable from January 1, 2009.

BUSINESS SEGMENT INFORMATION
TOTAL
(unaudited)

4th quarter 2009

Upstream Downstream Chemicals Corporate Intercompany Total
(M€)

Non-Group sales 4,880 27,423 3,932 (7) - 36,228

Intersegment sales 4,460 1,217 218 41 (5,936) -
Excise taxes - (4,933) - - - (4,933)
Revenues from sales 9,340 23,707 4,150 34 (5,936) 31,295
Operating expenses (4,299) (23,046) (3,912) (190) 5,936 (25,511)
Depreciation, depletion and amortization of tangible assets and mineral interests (1,154) (622) (141) (10) - (1,927)
Operating income 3,887 39 97 (166) - 3,857
Equity in income (loss) of affiliates and other items 155 (4) 44 195 - 390
Tax on net operating income (2,188) (1) (20) 129 - (2,080)
Net operating income 1,854 34 121 158 - 2,167
Net cost of net debt (60)
Minority interests (42)
Net income 2,065

4th quarter 2009 (adjustments) (a)

Upstream Downstream Chemicals Corporate Intercompany Total
(M€)

Non-Group sales
Intersegment sales
Excise taxes
Revenues from sales
Operating expenses (17) 313 25 - 321
Depreciation, depletion and amortization of tangible assets and mineral interests (4) (285) 6 - (283)
Operating income (b) (21) 28 31 - 38
(c)
Equity in income (loss) of affiliates and other items (90) (22) 23 46 (43)
Tax on net operating income 17 (23) (5) (2) (13)
Net operating income (b) (94) (17) 49 44 (18)
Net cost of net debt -
Minority interests (2)
Net income (16)

(a) Adjustments include special items, inventory valuation effect and equity share of adjustments and selected items related to Sanofi-Aventis.

(b) Of which inventory valuation effect

On operating income - 388 61 -
On net operating income - 259 38 -
(c) Of which equity share of adjustments and selected items related to Sanofi-Aventis - - - (48)

4th quarter 2009 (adjusted)

Upstream Downstream Chemicals Corporate Intercompany Total
(M€)

Non-Group sales 4,880 27,423 3,932 (7) - 36,228

Intersegment sales 4,460 1,217 218 41 (5,936) -
Excise taxes - (4,933) - - - (4,933)
Revenues from sales 9,340 23,707 4,150 34 (5,936) 31,295
Operating expenses (4,282) (23,359) (3,937) (190) 5,936 (25,832)
Depreciation, depletion and amortization of tangible assets and mineral interests (1,150) (337) (147) (10) - (1,644)
Adjusted operating income 3,908 11 66 (166) - 3,819
Equity in income (loss) of affiliates and other items 245 18 21 149 - 433
Tax on net operating income (2,205) 22 (15) 131 - (2,067)
Adjusted net operating income 1,948 51 72 114 - 2,185
Net cost of net debt (60)
Minority interests (44)
Ajusted net income 2,081

4th quarter 2009

Upstream Downstream Chemicals Corporate Intercompany Total
(M€)

Total expenditures 2,429 844 225 26 3,524

Total divestments 77 48 20 799 944
Cash flow from operating activities 2,825 (1,400) 324 140 1,889
BUSINESS SEGMENT INFORMATION
TOTAL
(unaudited)

3rd quarter 2009

Upstream Downstream Chemicals Corporate Intercompany Total
(M€)

Non-Group sales 3,318 26,409 3,892 9 - 33,628

Intersegment sales 4,149 923 241 36 (5,349) -
Excise taxes - (4,812) - - - (4,812)
Revenues from sales 7,467 22,520 4,133 45 (5,349) 28,816
Operating expenses (3,086) (21,982) (3,746) (113) 5,349 (23,578)
Depreciation, depletion and amortization of tangible assets and mineral interests (1,145) (307) (139) (8) - (1,599)
Operating income 3,236 231 248 (76) - 3,639
Equity in income (loss) of affiliates and other items 119 46 19 166 - 350
Tax on net operating income (1,885) (51) (73) 54 - (1,955)
Net operating income 1,470 226 194 144 - 2,034
Net cost of net debt (59)
Minority interests (52)
Net income 1,923

3rd quarter 2009 (adjustments) (a)

Upstream Downstream Chemicals Corporate Intercompany Total
(M€)

Non-Group sales
Intersegment sales
Excise taxes
Revenues from sales - - - - -
Operating expenses - 148 60 - 208
Depreciation, depletion and amortization of tangible assets and mineral interests - - (3) - (3)
Operating income (b) - 148 57 - 205
(c)
Equity in income (loss) of affiliates and other items (31) (19) (8) (22) (80)
Tax on net operating income - (49) (16) (1) (66)
Net operating income (b) (31) 80 33 (23) 59
Net cost of net debt -
Minority interests (5)
Net income 54

(a) Adjustments include special items, inventory valuation effect and equity share of adjustments and selected items related to Sanofi-Aventis.

(b) Of which inventory valuation effect

On operating income - 150 64 -
On net operating income - 81 45 -
(c) Of which equity share of adjustments and selected items related to Sanofi-Aventis - - - (70)

3rd quarter 2009 (adjusted)

Upstream Downstream Chemicals Corporate Intercompany Total
(M€)

Non-Group sales 3,318 26,409 3,892 9 - 33,628

Intersegment sales 4,149 923 241 36 (5,349) -
Excise taxes - (4,812) - - - (4,812)
Revenues from sales 7,467 22,520 4,133 45 (5,349) 28,816
Operating expenses (3,086) (22,130) (3,806) (113) 5,349 (23,786)
Depreciation, depletion and amortization of tangible assets and mineral interests (1,145) (307) (136) (8) - (1,596)
Adjusted operating income 3,236 83 191 (76) - 3,434
Equity in income (loss) of affiliates and other items 150 65 27 188 - 430
Tax on net operating income (1,885) (2) (57) 55 - (1,889)
Adjusted net operating income 1,501 146 161 167 - 1,975
Net cost of net debt (59)
Minority interests (47)
Ajusted net income 1,869

3rd quarter 2009

Upstream Downstream Chemicals Corporate Intercompany Total
(M€)

Total expenditures 2,512 607 112 25 - 3,256

Total divestments 87 23 13 684 - 807
Cash flow from operating activities 2,854 944 300 440 - 4,538
BUSINESS SEGMENT INFORMATION
TOTAL
(unaudited)

4th quarter 2008

Upstream Downstream Chemicals Corporate Intercompany Total
(M€)

Non-Group sales 6,925 27,746 4,012 31 - 38,714

Intersegment sales 4,097 810 207 15 (5,129) -
Excise taxes - (5,009) - - - (5,009)
Revenues from sales 11,022 23,547 4,219 46 (5,129) 33,705
Operating expenses (6,188) (25,635) (4,845) (203) 5,129 (31,742)
Depreciation, depletion and amortization of tangible assets and mineral interests (1,278) (328) (135) (7) - (1,748)
Operating income 3,556 (2,416) (761) (164) - 215
Equity in income (loss) of affiliates and other items 440 (259) (61) 30 - 150
Tax on net operating income (2,201) 807 274 108 - (1,012)
Net operating income 1,795 (1,868) (548) (26) - (647)
Net cost of net debt (129)
Minority interests (18)
Net income (794)

4th quarter 2008 (adjustments) (a)

Upstream Downstream Chemicals Corporate Intercompany Total
(M€)

Non-Group sales
Intersegment sales
Excise taxes
Revenues from sales - - - - -
Operating expenses - (3,561) (1,009) - (4,570)
Depreciation, depletion and amortization of tangible assets and mineral interests (171) - (6) - (177)
Operating income (b) (171) (3,561) (1,015) - (4,747)
(c)
Equity in income (loss) of affiliates and other items (86) (243) (59) (139) (527)
Tax on net operating income 57 1,166 349 - 1,572
Net operating income (b) (200) (2,638) (725) (139) (3,702)
Net cost of net debt -
Minority interests 35
Net income (3,667)

(a) Adjustments include special items, inventory valuation effect and equity share of adjustments related to Sanofi-Aventis.

(b) Of which inventory valuation effect

On operating income - (3,561) (811) -
On net operating income - (2,604) (559) -
(c) Of which equity share of adjustments related to Sanofi-Aventis - - - (166)

4th quarter 2008 (adjusted)

Upstream Downstream Chemicals Corporate Intercompany Total
(M€)

Non-Group sales 6,925 27,746 4,012 31 - 38,714

Intersegment sales 4,097 810 207 15 (5,129) -
Excise taxes - (5,009) - - - (5,009)
Revenues from sales 11,022 23,547 4,219 46 (5,129) 33,705
Operating expenses (6,188) (22,074) (3,836) (203) 5,129 (27,172)
Depreciation, depletion and amortization of tangible assets and mineral interests (1,107) (328) (129) (7) - (1,571)
Adjusted operating income 3,727 1,145 254 (164) - 4,962
Equity in income (loss) of affiliates and other items 526 (16) (2) 169 - 677
Tax on net operating income (2,258) (359) (75) 108 - (2,584)
Adjusted net operating income 1,995 770 177 113 - 3,055
Net cost of net debt (129)
Minority interests (53)
Ajusted net income 2,873

4th quarter 2008

Upstream Downstream Chemicals Corporate Intercompany Total
(M€)

Total expenditures 3,283 972 477 26 4,758

Total divestments 270 18 20 635 943
Cash flow from operating activities 2,139 603 939 412 4,093
BUSINESS SEGMENT INFORMATION
TOTAL
(unaudited)

Year 2009
Upstream Downstream Chemicals Corporate Intercompany Total
(M€)

Non-Group sales 16,072 100,518 14,726 11 - 131,327

Intersegment sales 15,958 3,786 735 156 (20,635) -
Excise taxes - (19,174) - - - (19,174)
Revenues from sales 32,030 85,130 15,461 167 (20,635) 112,153
Operating expenses (14,752) (81,281) (14,293) (656) 20,635 (90,347)
Depreciation, depletion and amortization of tangible assets and mineral interests (4,420) (1,612) (615) (35) - (6,682)
Operating income 12,858 2,237 553 (524) - 15,124
Equity in income (loss) of affiliates and other items 846 169 (58) 697 - 1,654
Tax on net operating income (7,486) (633) (92) 326 - (7,885)
Net operating income 6,218 1,773 403 499 - 8,893
Net cost of net debt (264)
Minority interests (182)
Net income 8,447

Year 2009 (adjustments) (a)

Upstream Downstream Chemicals Corporate Intercompany Total
(M€)

Non-Group sales
Intersegment sales
Excise taxes
Revenues from sales
Operating expenses (17) 1,558 344 - 1,885
Depreciation, depletion and amortization of tangible assets and mineral interests (4) (347) (40) - (391)
Operating income (b) (21) 1,211 304 - 1,494
(c)
Equity in income (loss) of affiliates and other items (160) 22 (123) (117) (378)
Tax on net operating income 17 (413) (50) (3) (449)
Net operating income (b) (164) 820 131 (120) 667
Net cost of net debt -
Minority interests (4)
Net income 663

(a) Adjustments include special items, inventory valuation effect and equity share of adjustments and selected items related to Sanofi-Aventis.

(b) Of which inventory valuation effect

On operating income - 1,816 389 -
On net operating income - 1,285 254 -
(c) Of which equity share of adjustments and selected items related to Sanofi-Aventis - - - (300)

Year 2009 (adjusted)

Upstream Downstream Chemicals Corporate Intercompany Total
(M€)

Non-Group sales 16,072 100,518 14,726 11 - 131,327

Intersegment sales 15,958 3,786 735 156 (20,635) -
Excise taxes - (19,174) - - - (19,174)
Revenues from sales 32,030 85,130 15,461 167 (20,635) 112,153
Operating expenses (14,735) (82,839) (14,637) (656) 20,635 (92,232)
Depreciation, depletion and amortization of tangible assets and mineral interests (4,416) (1,265) (575) (35) - (6,291)
Adjusted operating income 12,879 1,026 249 (524) - 13,630
Equity in income (loss) of affiliates and other items 1,006 147 65 814 - 2,032
Tax on net operating income (7,503) (220) (42) 329 - (7,436)
Adjusted net operating income 6,382 953 272 619 - 8,226
Net cost of net debt (264)
Minority interests (178)
Ajusted net income 7,784

Year 2009
Upstream Downstream Chemicals Corporate Intercompany Total
(M€)

Total expenditures 9,855 2,771 631 92 13,349

Total divestments 398 133 47 2,503 3,081
Cash flow from operating activities 10,200 1,164 1,082 (86) 12,360
BUSINESS SEGMENT INFORMATION
TOTAL
(unaudited)

Year 2008
Upstream Downstream Chemicals Corporate Intercompany Total
(M€)

Non-Group sales 24,256 135,524 20,150 46 - 179,976

Intersegment sales 25,132 5,574 1,252 120 (32,078) -
Excise taxes - (19,645) - - - (19,645)
Revenues from sales 49,388 121,453 21,402 166 (32,078) 160,331
Operating expenses (21,915) (119,425) (20,942) (685) 32,078 (130,889)
Depreciation, depletion and amortization of tangible assets and mineral interests (4,005) (1,202) (518) (30) - (5,755)
Operating income 23,468 826 (58) (549) - 23,687
Equity in income (loss) of affiliates and other items 1,541 (158) (34) 590 - 1,939
Tax on net operating income (14,563) (143) 76 315 - (14,315)
Net operating income 10,446 525 (16) 356 - 11,311
Net cost of net debt (358)
Minority interests (363)
Net income 10,590

Year 2008 (adjustments) (a)

Upstream Downstream Chemicals Corporate Intercompany Total
(M€)

Non-Group sales
Intersegment sales
Excise taxes
Revenues from sales - - - - -
Operating expenses - (2,776) (925) - (3,701)
Depreciation, depletion and amortization of tangible assets and mineral interests (171) - (6) - (177)
Operating income (b) (171) (2,776) (931) - (3,878)
(c)
Equity in income (loss) of affiliates and other items (164) (195) (82) (345) (786)
Tax on net operating income 57 927 329 (2) 1,311
Net operating income (b) (278) (2,044) (684) (347) (3,353)
Net cost of net debt -
Minority interests 23
Net income (3,330)

(a) Adjustments include special items, inventory valuation effect and equity share of adjustments related to Sanofi-Aventis.

(b) Of which inventory valuation effect

On operating income - (2,776) (727) -
On net operating income - (1,971) (504) -
(c) Of which equity share of adjustments related to Sanofi-Aventis - - - (393)

Year 2008 (adjusted)

Upstream Downstream Chemicals Corporate Intercompany Total
(M€)

Non-Group sales 24,256 135,524 20,150 46 - 179,976

Intersegment sales 25,132 5,574 1,252 120 (32,078) -
Excise taxes - (19,645) - - - (19,645)
Revenues from sales 49,388 121,453 21,402 166 (32,078) 160,331
Operating expenses (21,915) (116,649) (20,017) (685) 32,078 (127,188)
Depreciation, depletion and amortization of tangible assets and mineral interests (3,834) (1,202) (512) (30) - (5,578)
Adjusted operating income 23,639 3,602 873 (549) - 27,565
Equity in income (loss) of affiliates and other items 1,705 37 48 935 - 2,725
Tax on net operating income (14,620) (1,070) (253) 317 - (15,626)
Adjusted net operating income 10,724 2,569 668 703 - 14,664
Net cost of net debt (358)
Minority interests (386)
Ajusted net income 13,920

Year 2008
Upstream Downstream Chemicals Corporate Intercompany Total
(M€)

Total expenditures 10,017 2,418 1,074 131 13,640

Total divestments 1,130 216 53 1,186 2,585
Cash flow from operating activities 13,765 3,111 920 873 18,669
CONSOLIDATED STATEMENT OF INCOME (Impact of adjustments)
TOTAL

(unaudited)

4th quarter 2009 Consolidated

Adjusted Adjustments
(M€) statement of income

Sales 36,228 - 36,228

Excise taxes (4,933) - (4,933)
Revenues from sales 31,295 - 31,295

Purchases net of inventory variation (21,039) 449 (20,590)

Other operating expenses (4,556) (128) (4,684)
Exploration costs (237) - (237)
Depreciation, depletion and amortization of tangible assets and mineral interests (1,644) (283) (1,927)
Other income 29 94 123
Other expense (148) (54) (202)

Financial interest on debt (111) - (111)

Financial income from marketable securities & cash equivalents 16 - 16
Cost of net debt (95) - (95)

Other financial income 177 - 177

Other financial expense (92) - (92)

Equity in income (loss) of affiliates 467 (83) 384

Income taxes (2,032) (13) (2,045)

Consolidated net income 2,125 (18) 2,107
Group share 2,081 (16) 2,065
Minority interests 44 (2) 42

4th quarter 2008 Consolidated

Adjusted Adjustments
(M€) statement of income

Sales 38,714 - 38,714

Excise taxes (5,009) - (5,009)
Revenues from sales 33,705 - 33,705

Purchases net of inventory variation (22,021) (4,372) (26,393)

Other operating expenses (4,924) (198) (5,122)
Exploration costs (227) - (227)
Depreciation, depletion and amortization of tangible assets and mineral interests (1,571) (177) (1,748)
Other income 77 17 94
Other expense (18) (105) (123)

Financial interest on debt (298) - (298)

Financial income from marketable securities & cash equivalents 117 - 117
Cost of net debt (181) - (181)

Other financial income 243 - 243

Other financial expense (95) - (95)

Equity in income (loss) of affiliates 470 (439) 31

Income taxes (2,532) 1,572 (960)

Consolidated net income 2,926 (3,702) (776)
Group share 2,873 (3,667) (794)
Minority interests 53 (35) 18
CONSOLIDATED STATEMENT OF INCOME (Impact of adjustments)
TOTAL

(unaudited)

Year 2009 Consolidated

Adjusted Adjustments
(M€) statement of income

Sales 131,327 - 131,327

Excise taxes (19,174) - (19,174)
Revenues from sales 112,153 - 112,153

Purchases net of inventory variation (73,263) 2,205 (71,058)

Other operating expenses (18,271) (320) (18,591)
Exploration costs (698) - (698)
Depreciation, depletion and amortization of tangible assets and mineral interests (6,291) (391) (6,682)
Other income 131 183 314
Other expense (315) (285) (600)

Financial interest on debt (530) - (530)

Financial income from marketable securities & cash equivalents 132 - 132
Cost of net debt (398) - (398)

Other financial income 643 - 643

Other financial expense (345) - (345)

Equity in income (loss) of affiliates 1,918 (276) 1,642

Income taxes (7,302) (449) (7,751)

Consolidated net income 7,962 667 8,629
Group share 7,784 663 8,447
Minority interests 178 4 182

Year 2008 Consolidated

Adjusted Adjustments
(M€) statement of income

Sales 179,976 - 179,976

Excise taxes (19,645) - (19,645)
Revenues from sales 160,331 - 160,331

Purchases net of inventory variation (107,521) (3,503) (111,024)

Other operating expenses (18,903) (198) (19,101)
Exploration costs (764) - (764)
Depreciation, depletion and amortization of tangible assets and mineral interests (5,578) (177) (5,755)
Other income 153 216 369
Other expense (147) (407) (554)

Financial interest on debt (1,000) - (1,000)

Financial income from marketable securities & cash equivalents 473 - 473
Cost of net debt (527) - (527)

Other financial income 728 - 728

Other financial expense (325) - (325)

Equity in income (loss) of affiliates 2,316 (595) 1,721

Income taxes (15,457) 1,311 (14,146)

Consolidated net income 14,306 (3,353) 10,953
Group share 13,920 (3,330) 10,590
Minority interests 386 (23) 363