Sunoco 2010 Annual Report Download - page 43

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, 2010, except for 2 thousand shares purchased from employees during December
2010 at an average price per share of $39.58 in connection with the settlement of tax withholding obligations
arising from payment of common stock unit awards. As of December 31, 2010, the Company had approximately
$600 million of its common stock that may yet be purchased under a $1 billion share repurchase program. This
program, which was approved by the Company’s Board of Directors on September 7, 2006, has no stated
expiration date. The Company currently has no plans to repurchase any of its common stock during 2011.
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) 2010 2009 2008 2007 2006
Statement of Operations Data:
Sales and other operating revenue
(including consumer excise taxes) .................. $37,264 $30,271 $49,393 $40,864 $35,133
Income (loss) from continuing operations* .............. $451 $(251) $958 $846 $905
Income (loss) from discontinued operations** ........... $(23) $51 $(69) $115 $161
Net income (loss) .................................. $428 $(200) $889 $961 $1,066
Net income (loss) attributable to Sunoco, Inc.
shareholders .................................... $234 $(329) $776 $891 $979
Per-Share Data Attributable to Sunoco, Inc.
Shareholders:
Income (loss) from continuing operations:
Basic .......................................... $2.14 $(3.25) $7.22 $6.48 $6.38
Diluted ......................................... $2.14 $(3.25) $7.22 $6.47 $6.34
Net income (loss):
Basic .......................................... $1.95 $(2.81) $6.63 $7.44 $7.63
Diluted ......................................... $1.95 $(2.81) $6.63 $7.43 $7.59
Cash dividends on common stock ..................... $.60 $1.20 $1.175 $1.075 $.95
Balance Sheet Data:
Cash and cash equivalents .......................... $1,485 $377 $240 $648 $263
Total assets ....................................... $13,297 $11,895 $11,150 $12,426 $10,982
Short-term borrowings and current portion of long-term
debt ........................................... $293 $403 $458 $4 $282
Long-term debt .................................... $2,136 $2,061 $1,705 $1,724 $1,705
Sunoco, Inc. shareholders’ equity ..................... $3,046 $2,557 $2,842 $2,533 $2,075
Outstanding shares of common stock .................. 120.6 116.9 116.9 117.6 121.3
Sunoco, Inc. shareholders’ equity per outstanding share . . $25.26 $21.87 $24.31 $21.54 $17.11
Total equity ....................................... $3,799 $3,119 $3,280 $2,972 $2,693
*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, after-tax charges (gains) related to income tax matters totaling $9 and $(26) million in 2010 and
2008, respectively, a net after-tax gain totaling $26 million on the divestment of the retail heating oil and propane distribution business
in 2009, after-tax gains totaling $100 and $55 million from the liquidation of LIFO inventories in 2010 and 2009, respectively, a $37
million after-tax gain attributable to Sunoco shareholders from the remeasurement of the pre-acquisition equity interests in pipeline joint
ventures upon consolidation and after-tax provisions (gains) for asset write-downs and other matters totaling $65, $407, $(11) and $32
million in 2010, 2009, 2008 and 2007, respectively. (See Notes 2, 4 and 6 to the Consolidated Financial Statements under Item 8).
**Consists of income (loss) from the Tulsa refinery which was sold on June 1, 2009 and income (loss) from the polypropylene chemicals
business which was sold on March 31, 2010. Includes after-tax provisions for asset write-downs and other matters totaling $—, $7 and
$149 million in 2010, 2009 and 2008, respectively, a net after-tax loss related to the divestment of the polypropylene chemicals
business totaling $44 million in 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).
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