Sunoco 2011 Annual Report Download - page 113
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Corporate and Other are net financing expenses and other, which consist principally of interest expense and debt
and other financing expenses less interest income and interest capitalized, and significant unusual and
infrequently occurring items not allocated to a segment for purposes of reporting to the chief operating decision
maker. Intersegment revenues are accounted for based on the prices negotiated by the segments, which
approximate market. Identifiable assets are those assets that are utilized within a specific segment. During 2011,
the Company changed its measure of segment profit or loss to pretax operating results attributable to Sunoco,
Inc. shareholders. The change did not impact the Company’s reportable segments. Previously, after-tax operating
results attributable to Sunoco, Inc. shareholders were provided to the chief operating decision maker.
Segment Information (millions of dollars)
Logistics
Retail
Marketing
Refining
and
Supply Coke
Corporate
and Other Consolidated
2011
Sales and other operating revenue (including
consumer excise taxes):
Unaffiliated customers ................... $10,473 $17,382 $17,452 $1,517 $ — $46,824
Intersegment .......................... $ 432 $ — $14,795 $ 9 $ — $ —
Pretax income (loss) from continuing operations
attributable to Sunoco, Inc. shareholders .... $ 204 $ 169 $ (316) $ 62 $(2,714)* $ (2,595)
Income tax benefit attributable to Sunoco, Inc.
shareholders ........................... (1,067)
Loss from continuing operations attributable to
Sunoco, Inc. shareholders ................ (1,528)
Loss from discontinued operations, net of
income taxes .......................... (156)
Net loss attributable to Sunoco, Inc.
shareholders ........................... $(1,684)
Equity income ........................... $ 13 $ — $ 2 $ — $ — $ 15
Depreciation, depletion and amortization ...... $ 86 $ 92 $ 157 $ 59 $ — $ 394
Capital expenditures** .................... $ 211 $ 129 $ 120 $ 246 $ 17 $ 723
Investments in affiliated companies .......... $ 73 $ — $ 19 $ 41 $ — $ 133
Identifiable assets ........................ $ 5,376 $ 1,229 $ 841 $1,981 $ 2,578*** $11,982†
*Consists of $80 million of corporate expenses, $101 million of net financing expenses and other, a $2 million gain on the divestment of the Toledo
refinery and related inventory, $63 million of LIFO inventory profits, a $9 million gain from the remeasurement of pipeline equity interests to fair
value, and a $2,607 million provision for asset write-downs and other matters (Note 2).
**Excludes acquisitions totaling $419 million (Note 2). Corporate amount represents expenditures attributable to discontinued chemicals operations.
***Consists of Sunoco’s $354 million consolidated deferred income tax asset and $2,224 million attributable to corporate activities consisting
primarily of cash and cash equivalents.
†After elimination of intersegment receivables.
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