Sunoco 2011 Annual Report Download - page 116

Sunoco, Inc. and Subsidiaries
Quarterly Financial and Stock Market Information (Unaudited)
(Millions of Dollars, Except Per-Share Amounts and Common Stock Prices)
2011 2010
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Sales and other operating revenue (including
consumer excise taxes)* .............. $10,308 $11,670 $12,145 $12,701 $7,917 $9,294 $9,058 $9,906
Gross profit** ........................ $ 116 $ 307 $ 341 $ 241 $ 185 $ 471 $ 250 $ 391
Income (loss) from continuing
operations*** ....................... $ (75) $ 97 $ (1,058) $ (317) $ (9) $ 171 $ 169 $ 114
Net income (loss) ...................... $ (80) $ (71) $ (1,038) $ (320) $ (38) $ 176 $ 172 $ 118
Net income (loss) attributable to
Sunoco, Inc. shareholders ............. $ (101)†$ (125)†† $ (1,096)††† $ (362)#$ (63)## $ 145### $65
@$87 @@
Earnings (loss) attributable to Sunoco, Inc.
shareholders per share of common stock:
Basic:
Income (loss) from continuing
operations*** ................... $ (0.79) $ 0.36 $ (9.80) $ (3.36) $ (0.29) $ 1.16 $ 0.51 $ 0.69
Net income (loss) .................. $ (0.84) $ (1.03) $ (9.62) $ (3.39) $ (0.53) $ 1.20 $ 0.54 $ 0.72
Diluted:
Income (loss) from continuing
operations ...................... $ (0.79) $ 0.36 $ (9.80) $ (3.36) $ (0.29) $ 1.16 $ 0.51 $ 0.69
Net income (loss) .................. $ (0.84) $ (1.03) $ (9.62) $ (3.39) $ (0.53) $ 1.20 $ 0.54 $ 0.72
Cash dividends per share of common
stock .............................. $ 0.15 $ 0.15 $ 0.15 $ 0.15 $ 0.15 $ 0.15 $ 0.15 $ 0.15
Common stock price@@@—high .......... $ 46.62 $ 46.98 $ 43.43 $ 41.24 $30.98 $36.48 $37.96 $41.23
—low ........... $ 38.42 $ 38.56 $ 27.36 $ 28.79 $24.64 $26.93 $32.00 $35.72
—end of period . . . $ 45.59 $ 41.71 $ 31.01 $ 41.02 $29.71 $34.77 $36.50 $40.31
*Reflects decreases of $301 and $328 million for the quarters ended March 31 and June 30, 2011, respectively, and decreases of $249 and $278 million
for the quarters ended March 31 and June 30, 2010, respectively, compared to amounts previously reported on Securities and Exchange Commission
Form 10-Q. These changes are due to the treatment of the Frankford and Haverhill phenol chemicals operations that were sold during 2011 as
discontinued operations.
**Gross profit equals sales and other operating revenue less cost of products sold; operating expenses; depreciation, depletion and amortization; and
consumer excise, payroll and other applicable taxes.
***Reflects increases of $5 and $168 million for the quarters ended March 31 and June 30, 2011, respectively, and an increase of $6 million and a decrease
of $5 million for the quarters ended March 31 and June 30, 2010, respectively, compared to amounts previously reported on Securities and Exchange
Commission Form 10-Q in income (loss) from continuing operations. Accordingly, reflects increases of $.05 and $1.39 per share of common stock for
the quarters ended March 31 and June 30, 2011, respectively, and an increase of $.05 and a decrease of $.04 per share of common stock for the quarters
ended March 31 and June 30, 2010, respectively. These changes are due to the treatment of the Frankford and Haverhill phenol chemicals operations
that were sold during 2011 as discontinued operations.
†Includes a $4 million after-tax provision for asset write-downs and other matters, a $4 million after-tax gain related to the divestment of the Toledo
refinery, a $26 million after-tax gain from the reduction of crude oil and refined product inventories at the Toledo refinery prior to the divestment, and a
$5 million increase in deferred taxes due to apportionment changes resulting from the sale of the Toledo refinery.
††Includes a $175 million after-tax provision for asset write-downs and other matters (including $171 million after tax attributable to the discontinued
phenol chemicals operations), a $5 million after-tax loss related to the divestment of the Toledo refinery, and a $6 million after-tax gain from the
remeasurement of pre-acquisition equity interests to fair value.
†††Includes a $1,167 million after-tax provision for asset write-downs and other matters (including an $11 million after-tax gain attributable to a partial
settlement of a low sulfur diesel credit liability related to the discontinued Tulsa refining operations), a $2 million after-tax loss related to the divestment
of the Toledo refinery, and an $8 million after-tax gain related to the divestment of the discontinued Frankford chemicals facility.
#Includes a $374 million after-tax provision for asset write-downs and other matters, a $1 million after-tax loss related to prior divestments, a $12 million
after-tax gain from the liquidation of LIFO inventories primarily related to the idling of the Marcus Hook refinery, and a $4 million tax provision
adjustment related to the March 2010 sale of the discontinued polypropylene chemicals business.
##Includes a $27 million after-tax provision for asset write-downs and other matters, a $44 million net after-tax loss related to the divestment of the
discontinued polypropylene chemicals business, and a $9 million unfavorable tax adjustment related to the discontinued phenol chemicals operations.
###Includes a $13 million after-tax provision for asset write-downs and other matters.
@Includes a $1 million after-tax gain related to asset write-downs and other matters and a $37 million after-tax gain from the remeasurement of pre-
acquisition equity interests to fair value.
@@Includes a $26 million after-tax provision for asset write-downs and other matters and a $100 million after-tax gain from the liquidation of LIFO
inventories largely attributable to the permanent shutdown of the Eagle Point refinery.
@@@The Company's common stock is principally traded on the New York Stock Exchange, Inc. under the symbol "SUN." The Company had approximately
18,300 holders of record of common stock as of January 31, 2012.
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