Sunoco 2011 Annual Report Download - page 87
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During 2009, Sunoco also recorded a $35 million provision to write down to estimated fair value certain
other assets primarily in the Refining and Supply business, established $16 million of accruals for costs
associated with MTBE litigation and recognized a $9 million net curtailment gain related to a freeze of pension
benefits for most participants in the Company’s defined benefit pension plans and a phase down or elimination of
postretirement medical benefits (Note 9).
The following table summarizes the changes in the accrual for employee terminations and other exit costs
during 2011, 2010 and 2009 (in millions of dollars):
2011 2010 2009
Balance at beginning of period .............................. $ 79 $68 $ 12
Additional accruals ........................................ 249 61 114
Payments charged against the accruals ........................ (34) (50) (58)
Balance at end of period .................................... $294 $ 79 $ 68
3. Other Income, Net
The components of other income, net, are as follows (in millions of dollars):
2011 2010 2009
Gain (loss) on divestments (Note 2):
Toledo refinery and related inventory ....................... $ 2 $— $ —
RPM program .......................................... 9 17 24
Retail heating oil and propane distribution business ............ — — 44
Other ................................................. 2 4 1
Equity income (loss):
Pipeline joint ventures (Notes 2 and 7) ...................... 13 27 26
Other ................................................. 2 1 (3)
Other ................................................... 32 43 24
$60 $92 $116
4. Income Taxes
The components of income tax expense (benefit) attributable to continuing operations are as follows (in
millions of dollars):
2011 2010 2009
Income taxes currently payable:
U.S. federal ............................................ $ (1) $(132) $(431)
State and other ......................................... (16) (13) (2)
(17) (145) (433)
Deferred taxes:
U.S. federal ............................................ (851) 234 150
State and other ......................................... (183) 29 (75)
(1,034) 263 75
$(1,051) $ 118 $(358)
79