v2.4.0.6
Disclosures About Segments And Related Information
 12 Months Ended
Dec. 31, 2011
Disclosures About Segments And Related Information [Abstract]  
Disclosures About Segments And Related Information

17. Disclosures about Segments and Related Information

The Upstream, Downstream and Chemical functions best define the operating segments of the business that are reported separately. The factors used to identify these reportable segments are based on the nature of the operations that are undertaken by each segment. The Upstream segment is organized and operates to explore for and produce crude oil and natural gas. The Downstream segment is organized and operates to manufacture and sell petroleum products. The Chemical segment is organized and operates to manufacture and sell petrochemicals. These segments are broadly understood across the petroleum and petrochemical industries.

These functions have been defined as the operating segments of the Corporation because they are the segments (1) that engage in business activities from which revenues are earned and expenses are incurred; (2) whose operating results are regularly reviewed by the Corporation's chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance; and (3) for which discrete financial information is available.

Earnings after income tax include special items, and transfers are at estimated market prices. Earnings for 2009 included a special charge of $140 million in the corporate and financing segment for interest related to the Valdez punitive damages award.

Interest expense includes non-debt-related interest expense of $165 million, $41 million and $500 million in 2011, 2010 and 2009, respectively. Higher expenses in 2009 primarily reflect interest provisions related to the Valdez litigation.

In corporate and financing activities, interest revenue relates to interest earned on cash deposits and marketable securities.

 

 

    Upstream     Downstream     Chemical     Corporate  and
Financing 		    Corporate
Total 		 
     U.S.     Non-U.S.     U.S.     Non-U.S.     U.S.     Non-U.S.      
    (millions of dollars)  

As of December 31, 2011

                

Earnings after income tax

   $ 5,096      $ 29,343      $ 2,268      $ 2,191      $ 2,215      $ 2,168      $ (2,221 )    $ 41,060   

Earnings of equity companies included above

     2,045        11,768        7        353        198        1,365        (447 )      15,289   

Sales and other operating revenue (1)

    14,023        32,419        120,844        257,779        15,466        26,476        22        467,029   

Intersegment revenue

     9,807        49,910        18,489        73,549        12,226        10,563        262        –   

Depreciation and depletion expense

     4,879        7,021        650        1,560        380        458        635        15,583   

Interest revenue

     –        –        –        –        –        –        135        135   

Interest expense

     30        36        10        24        2        (1 )      146        247   

Income taxes

     2,852        25,755        1,123        696        1,027        465        (867 )      31,051   

Additions to property, plant and equipment

     10,887        18,934        400        1,334        241        910        932        33,638   

Investments in equity companies

     2,963        8,439        210        1,358        253        3,973        (228 )      16,968   

Total assets

     82,900        127,977        18,354        51,132        7,245        19,862        23,582        331,052   

As of December 31, 2010

                

Earnings after income tax

   $ 4,272      $ 19,825      $ 770      $ 2,797      $ 2,422      $ 2,491      $ (2,117 )    $ 30,460   

Earnings of equity companies included above

     1,261        8,415        23        225        171        1,163        (581 )      10,677   

Sales and other operating revenue (1)

    8,895        26,046        93,599        206,042        13,402        22,119        22        370,125   

Intersegment revenue

     8,102        39,066        13,546        52,697        9,694        8,421        282        –   

Depreciation and depletion expense

     3,506        7,574        681        1,565        421        432        581        14,760   

Interest revenue

     –        –        –        –        –        –        118        118   

Interest expense

     20        25        1        19        1        4        189        259   

Income taxes

     2,219        18,627        360        560        736        347        (1,288 )      21,561   

Additions to property, plant and equipment

     52,300        16,937        888        1,332        247        1,733        719        74,156   

Investments in equity companies

     2,636        9,625        254        1,240        285        3,586        (197 )      17,429   

Total assets

     76,725        115,646        18,378        47,402        7,148        19,087        18,124        302,510   

As of December 31, 2009

                

Earnings after income tax

   $ 2,893      $ 14,214      $ (153 )    $ 1,934      $ 769      $ 1,540      $ (1,917 )    $ 19,280   

Earnings of equity companies included above

     1,216        5,269        (102 )      188        164        906        (498 )      7,143   

Sales and other operating revenue (1)

    3,406        21,355        76,467        173,404        9,962        16,885        21        301,500   

Intersegment revenue

     6,718        32,982        10,168        39,190        7,185        6,947        284        –   

Depreciation and depletion expense

     1,768        6,376        687        1,665        400        457        564        11,917   

Interest revenue

     –        –        –        –        –        –        179        179   

Interest expense

     38        27        10        18        4        1        450        548   

Income taxes

     1,451        15,183        (164 )      (22 )      281        (182 )      (1,428 )      15,119   

Additions to property, plant and equipment

     2,973        13,307        1,449        1,447        294        2,553        468        22,491   

Investments in equity companies

     2,440        8,864        323        1,190        259        2,873        (207 )      15,742   

Total assets

     24,940        102,372        17,493        45,098        7,044        17,117        19,259        233,323   

 

 

Geographic
Sales and other operating revenue (1) 		  2011     2010     2009  
    (millions of dollars)  

United States

   $ 150,343      $ 115,906      $ 89,847   

Non-U.S.

     316,686        254,219        211,653   

Total

   $ 467,029      $ 370,125      $ 301,500   

Significant non-U.S. revenue sources include:

 

United Kingdom

   $ 34,833      $ 24,637      $ 20,293   

Canada

     34,626        27,243        21,151   

Japan

     31,925        27,143        22,054   

Belgium

     26,926        21,139        16,857   

France

     18,510        13,920        12,042   

Germany

     17,034        14,301        14,839   

Italy

     16,288        14,132        12,997   

Singapore

     14,400        11,088        8,400   

 

Long-lived assets

   2011     2010     2009  
    (millions of dollars)  

United States

   $ 91,146      $ 86,021      $ 37,138   

Non-U.S.

     123,518        113,527        101,978   

Total

   $ 214,664      $ 199,548      $ 139,116   

Significant non-U.S. long-lived assets include:

 

Canada

   $ 24,458      $ 20,879      $ 15,919   

Nigeria

     11,806        11,429        11,046   

Angola

     10,395        8,570        7,320   

Australia

     9,474        6,570        4,247   

Singapore

     9,285        8,610        7,238   

Kazakhstan

     7,022        5,938        4,748   

Norway

     6,039        6,988        7,251   

United Kingdom

     5,008        6,177        7,609   

 

(1) Sales and other operating revenue includes sales-based taxes of $33,503 million for 2011, $28,547 million for 2010 and $25,936 million for 2009. See Note 1, Summary of Accounting Policies.