Sunoco 2005 Annual Report Download - page 56

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5. Earnings Per Share Data
The following table sets forth the reconciliation of the
weighted-average number of common shares used to
compute basic earnings per share (“EPS”) to those used to
compute diluted EPS:
(In Millions) 2005 2004 2003
Weighted-average number of
common shares
outstanding—basic 136.6 148.2 153.4
Add effect of dilutive stock
incentive awards .9 1.6 1.6
Weighted-average number of
shares—diluted 137.5 149.8 155.0
6. Inventories
December 31
(Millions of Dollars) 2005 2004
Crude oil $317 $319
Petroleum and chemical products 322 315
Materials, supplies and other 160 131
$799 $765
The current replacement cost of all inventories valued at
LIFO exceeded their carrying value by $2,304 and $1,550
million at December 31, 2005 and 2004, respectively.
7. Investments and Long-Term Receivables
December 31
(Millions of Dollars) 2005 2004
Investments in affiliated companies:
Pipeline joint ventures (Notes 2 and 3) $86 $84
Other 38 11
124 95
Accounts and notes receivable 19 20
$143 $115
Dividends received from affiliated companies amounted
to $14, $23 and $19 million in 2005, 2004 and 2003, re-
spectively. Earnings employed in the business at De-
cember 31, 2005 include $43 million of undistributed
earnings of affiliated companies.
8. Properties, Plants and Equipment
(Millions of Dollars)
December 31
Gross
Investments,
at Cost
Accumulated
Depreciation,
Depletion
and
Amortization
Net
Investment
2005
Refining and supply $4,872 $2,289 $2,583
Retail marketing* 1,504 624 880
Chemicals 1,317 301 1,016
Logistics 1,327 495 832
Coke 556 209 347
$9,576 $3,918 $5,658
2004
Refining and supply $ 4,176 $ 2,129 $ 2,047
Retail marketing* 1,582 658 924
Chemicals 1,277 270 1,007
Logistics 1,129 472 657
Coke 524 193 331
$ 8,688 $3,722 $ 4,966
*Includes retail sites leased to third parties with a gross investment totaling $593 and
$611 million at December 31, 2005 and 2004, respectively. Related accumulated
depreciation totaled $300 and $298 million at December 31, 2005 and 2004,
respectively.
Annual future minimum rentals due Sunoco, as lessor, on
noncancelable operating leases at December 31, 2005 for
retail sites are as follows (in millions of dollars):
Year ending December 31:
2006 $ 38
2007 27
2008 18
2009 12
2010 5
Thereafter 16
$116
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