Sunoco 2004 Annual Report Download - page 59

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7. Investments and Long-Term Receivables
December 31
(Millions of Dollars) 2004 2003
Investments in and advances to affiliated
companies:
Pipeline joint ventures (Notes 2 and 3) $84 $85
Belvieu Environmental Fuels (Notes 2 and 3) —25
Other 11 12
95 122
Accounts and notes receivable 20 21
$115 $143
Dividends received from affiliated companies amounted
to $23, $19 and $27 million in 2004, 2003 and 2002, re-
spectively. Earnings employed in the business at De-
cember 31, 2004 include $31 million of undistributed
earnings of affiliated companies.
Summarized financial information for all entities ac-
counted for using the equity method is set forth below.
Amounts attributable to acquired interests (Note 2) have
been included in the table since the acquisition dates.
100 Percent Sunoco Proportionate Share
(Millions of Dollars) 2004 2003 2002 2004 2003 2002
Balance Sheet Information, at December 31:
Current assets $243 $232 $297 $66 $62 $94
Other assets $544 $590 $762 $96 $118 $211
Current liabilities $135 $149 $166 $40 $36 $49
Other liabilities $468 $450 $596 $75 $75 $159
Income Statement Information, for the years ended December 31:
Revenues $1,147 $971 $992 $394 $316 $358
Income before income tax expense $204 $91 $166 $39 $5 $31
Net income (loss) $132 $26 $115 $26 $(7) $23
8. Properties, Plants and Equipment
(Millions of Dollars)
December 31
Gross
Investments,
at Cost
Accumulated
Depreciation,
Depletion
and
Amortization
Net
Investment
2004
Refining and supply $4,176 $2,129 $2,047
Retail marketing* 1,582 658 924
Chemicals 1,277 270 1,007
Logistics 1,129 472 657
Coke 524 193 331
$8,688 $3,722 $4,966
2003
Refining and supply $ 3,891 $ 2,187 $ 1,704
Retail marketing* 1,512 650 862
Chemicals 1,282 263 1,019
Logistics 1,039 447 592
Coke 408 180 228
$ 8,132 $ 3,727 $ 4,405
*Includes retail sites leased to third parties with a gross investment totaling $611 and
$543 million at December 31, 2004 and 2003, respectively. Related accumulated
depreciation totaled $298 and $303 million at December 31, 2004 and 2003,
respectively.
Annual future minimum rentals due Sunoco, as lessor, on
noncancelable operating leases at December 31, 2004 for
retail sites are as follows (in millions of dollars):
Year ending December 31:
2005 $ 37
2006 26
2007 14
2008 7
2009 5
Thereafter 18
$107
57