Sunoco 2011 Annual Report Download - page 41

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PART II
ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER
MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
The Company did not repurchase any of its common stock on the open market during the three-month
period ended December 31, 2011, except for two thousand shares purchased from employees during December
2011 at an average price per share of $39.33 in connection with the settlement of tax withholding obligations
arising from payment of common stock unit awards. In February 2012, the Board approved a plan to repurchase
up to 19.9 percent of Sunoco’s outstanding common stock at the time, or approximately 21.25 million shares.
The planned repurchase is expected to occur over the next 12 to 18 months.
The other information required by this Item is incorporated herein by reference to the Quarterly Financial
and Stock Market Information on page 108 of this report.
ITEM 6. SELECTED FINANCIAL DATA
(Millions of Dollars or Shares, Except Per-Share Amounts) 2011 2010 2009 2008 2007
Statement of Operations Data:
Sales and other operating revenue
(including consumer excise taxes) .............................. $46,824 $36,175 $29,575 $48,058 $39,509
Income (loss) from continuing operations .......................... $(1,353) $ 445 $ (238) $ 935 $ 851
Income (loss) from discontinued operations* ........................ $ (156) $ (17) $ 38 $ (46) $ 110
Net income (loss)** ........................................... $(1,509) $ 428 $ (200) $ 889 $ 961
Net income (loss) attributable to Sunoco, Inc. shareholders ............ $(1,684) $ 234 $ (329) $ 776 $ 891
Per-Share Data Attributable to Sunoco, Inc. Shareholders:
Income (loss) from continuing operations:
Basic ..................................................... $(13.21) $ 2.09 $ (3.14) $ 7.03 $ 6.52
Diluted ................................................... $(13.21) $ 2.09 $ (3.14) $ 7.02 $ 6.51
Net income (loss):
Basic ..................................................... $(14.55) $ 1.95 $ (2.81) $ 6.63 $ 7.44
Diluted ................................................... $(14.55) $ 1.95 $ (2.81) $ 6.63 $ 7.43
Cash dividends on common stock ................................ $ 0.60 $ 0.60 $ 1.20 $ 1.175 $ 1.075
Balance Sheet Data:
Cash and cash equivalents .................................... $ 2,064 $ 1,485 $ 377 $ 240 $ 648
Total assets ................................................ $11,982 $13,297 $11,895 $11,150 $12,426
Short-term borrowings and current portion of long-term debt ......... $ 385 $ 293 $ 403 $ 458 $ 4
Long-term debt ............................................. $ 3,159 $ 2,136 $ 2,061 $ 1,705 $ 1,724
Sunoco, Inc. shareholders’ equity ............................... $ 893 $ 3,046 $ 2,557 $ 2,842 $ 2,533
Outstanding shares of common stock ............................ 106.8 120.6 116.9 116.9 117.6
Sunoco, Inc. shareholders’ equity per outstanding share ............. $ 8.36 $ 25.26 $ 21.87 $ 24.31 $ 21.54
Total equity ................................................ $ 1,800 $ 3,799 $ 3,119 $ 3,280 $ 2,972
*Consists of income (loss) from the phenol chemicals business which was divested in 2011, the polypropylene chemicals business which was
divested in 2010 and the Tulsa refinery which was divested in 2009. Includes after-tax provisions for asset write-downs and other matters totaling
$160, $7, $149 and $15 million in 2011, 2009, 2008 and 2007, respectively, a net after-tax gain related to the divestment of the phenol chemicals
operations totaling $8 million in 2011, net after-tax losses related to the divestment of the polypropylene chemicals business totaling $4 and $44
million, respectively, in 2011 and 2010 and a net after-tax gain related to the divestment of the Tulsa refinery totaling $41 million in 2009. (See
Note 2 to the Consolidated Financial Statements under Item 8).
**Includes after-tax gains related to the prior issuance of Sunoco Logistics Partners L.P. limited partnership units totaling $14 and $90 million in
2008 and 2007, respectively, an after-tax charge related to income tax matters totaling $26 million in 2008, net after-tax gains (losses) on
divestments totaling $(4) and $26 million, respectively, in 2011 and 2009, after-tax gains totaling $38, $100 and $55 million from the liquidation of
LIFO inventories in 2011, 2010 and 2009, respectively, after-tax gains of $6 and $37 million, respectively, in 2011 and 2010 from the
remeasurement of pre-acquisition equity interests to fair value upon consolidation and after-tax provisions (gains) for asset write-downs and other
matters totaling $1,560, $65, $407, $(11) and $17 million in 2011, 2010, 2009, 2008 and 2007, respectively. (See Notes 2, 4 and 6 to the
Consolidated Financial Statements under Item 8).
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