Sunoco 2005 Annual Report Download - page 72

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Segment Information
(Millions of Dollars)
Refining and
Supply
Retail
Marketing Chemicals Logistics Coke
Corporate
and Other Consolidated
2003
Sales and other operating revenue
(including consumer excise taxes):
Unaffiliated customers $7,174 $7,539 $1,730 $1,275 $251 $ — $17,969
Intersegment $4,852 $ — $ — $1,383 $ — $ — $ —
Pretax segment income (loss) $ 416 $ 145 $ 84 $ 34 $ 66 $(250) $ 495
Income tax (expense) benefit (155) (54) (31) (8) (23) 88 (183)
After-tax segment income (loss) $ 261 $ 91 $ 53 $ 26 $ 43 $(162)* $ 312
Equity income (loss) $ 2 $ — $ (6) $ 20 $ — $ (23)** $ (7)
Depreciation, depletion and amortization $ 165 $ 99 $ 65 $ 27 $ 13 $ — $ 369
Capital expenditures $ 245 $ 107*** $ 31†$ 39 $ 5 $ — $ 427
Investments in affiliated companies $ 12 $ — $ 25 $ 85 $ — $ — $ 122
Identifiable assets $2,344 $1,274 $1,586 $1,121 $268 $ 485†† $ 7,053†††
* Consists of $40 million of after-tax corporate expenses, $99 million of after-tax net financing expenses and other, a $9 million after-tax gain associated with the Retail Marketing
Midwest Marketing Divestment Program and a $32 million after-tax provision for asset write-downs and other matters (Notes 2 and 3).
** Represents Sunoco’s share of a provision recorded by the Chemicals segment’s one-third-owned BEF joint venture to write down its MTBE production facility to its estimated fair
value (Notes 2 and 3).
*** Excludes $162 million purchase from a subsidiary of Marathon Ashland Petroleum LLC of 193 Speedway®retail gasoline sites located primarily in Florida and South Carolina,
which includes inventory (Note 2).
†Excludes $198 million associated with the formation of a propylene partnership with Equistar Chemicals, L.P. and a related supply contract and the acquisition of Equistar’s
Bayport polypropylene facility, which includes inventory (Note 2).
†† Consists of Sunoco’s $91 million consolidated deferred income tax asset, $11 million of prepaid retirement costs and $383 million attributable to corporate activities.
††† After elimination of intersegment receivables.
The following table sets forth Sunoco’s sales to un-
affiliated customers and other operating revenue by prod-
uct or service:
(Millions of Dollars) 2005 2004 2003
Gasoline:
Wholesale $ 5,339 $ 3,934 $ 2,167
Retail 7,929 6,169 4,529
Middle distillates 8,866 5,764 3,518
Residual fuel 1,509 948 797
Petrochemicals 3,014 2,719 1,987
Lubricants 417 324 295
Other refined products 517 656 505
Convenience store merchandise 535 585 540
Other products and services 204 178 163
Resales of purchased crude oil 2,422 1,637 1,218
Coke and coal 414 272 251
Consumer excise taxes 2,588 2,282 1,999
$33,754 $25,468 $17,969
18. Subsequent Events (Unaudited)
In March 2006, Sunoco Logistics Partners L.P. purchased
two separate crude oil pipeline systems and related storage
facilities located in Texas, one from Alon USA Energy,
Inc. for $68 million and the other from Black Hills En-
ergy, Inc. (“Black Hills”) for approximately $41 million.
The Black Hills acquisition also includes a lease acquis-
ition marketing business and related inventory.
70