Sunoco 2009 Annual Report Download - page 87

Download and view the complete annual report

Please find page 87 of the 2009 Sunoco annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 128

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128

7. Investments and Long-Term Receivables
Investments and long-term receivables consisted of the following components (in millions of dollars):
December 31
2009 2008
Investments in affiliated companies:
Pipeline joint ventures (Notes 2 and 3) ............................ $ 91 $ 85
Brazilian cokemaking operations ................................. 41 41
Other ....................................................... 23 25
155 151
Accounts and notes receivable ...................................... 24 22
$179 $173
Dividends received from affiliated companies which are accounted for by the equity method amounted to
$20, $23 and $25 million in 2009, 2008 and 2007, respectively. Retained earnings at December 31, 2009 include
$38 million of undistributed earnings attributable to these companies.
Sunoco is the operator of a cokemaking plant in Vitória, Brazil which commenced operations in 2007.
Sunoco has a total equity interest of $41 million in the project company that owns the Vitória facility consisting
largely of preferred shares. Sunoco is the sole subscriber of preferred shares. The project company is a variable
interest entity for which Sunoco is not the primary beneficiary.
8. Properties, Plants and Equipment
Properties, plants and equipment consisted of the following components (in millions of dollars):
Gross
Investments
at Cost
Accumulated
Depreciation,
Depletion
and
Amortization
Net
Investment
December 31, 2009
Refining and supply ............................ $ 5,943 $2,429 $3,514
Retail marketing ............................... 1,355 646 709
Chemicals .................................... 1,253 429 824
Logistics ..................................... 2,183 643 1,540
Coke ........................................ 1,333 294 1,039
$12,067 $4,441 $7,626
December 31, 2008
Refining and supply ............................ $ 6,153 $2,266 $3,887
Retail marketing ............................... 1,544 702 842
Chemicals .................................... 1,233 389 844
Logistics ..................................... 1,978 591 1,387
Coke ........................................ 1,105 266 839
$12,013 $4,214 $7,799
9. Retirement Benefit Plans
Defined Benefit Pension Plans and Postretirement Health Care Plans
Sunoco has both funded and unfunded noncontributory defined benefit pension plans (“defined benefit
plans”) which have provided retirement benefits for approximately one-half of its employees. Sunoco also has
79