Business Segments |
3. Business Segments
Three months to March31 Upstream Downstream Chemical
millions of dollars 2010 2009 2010 2009 2010 2009
REVENUES AND OTHER INCOME
External sales (a) 1,241 760 4,610 3,685 283 208
Intersegment sales 948 656 571 390 70 64
Investment and other income 20 4 11 8 0 0
2,209 1,420 5,192 4,083 353 272
EXPENSES
Exploration 87 83 0 0 0 0
Purchases of crude oil and products 787 364 4,187 2,867 276 199
Production and manufacturing 602 646 370 336 58 48
Selling and general 2 1 224 233 17 19
Federal excise tax 0 0 304 306 0 0
Depreciation and depletion 125 136 52 56 3 3
Financing costs 0 0 0 1 0 0
TOTAL EXPENSES 1,603 1,230 5,137 3,799 354 269
INCOME BEFORE INCOME TAXES 606 190 55 284 (1 ) 3
INCOME TAXES 162 48 16 82 0 0
NET INCOME 444 142 39 202 (1 ) 3
Export sales to the United States 297 405 298 237 165 109
Cash flows from (used in) operating activities 742 (230 ) 186 (46 ) 4 (14 )
CAPEX (b) 855 447 38 42 6 4
Total assets as at March31 11,190 9,154 6,323 6,326 414 420
Three months to March31 Corporate and Other Eliminations Consolidated
millions of dollars 2010 2009 2010 2009 2010 2009
REVENUES AND OTHER INCOME
External sales (a) 0 0 0 0 6,134 4,653
Intersegment sales 0 0 (1,589 ) (1,110 ) 0 0
Investment and other income 1 5 0 0 32 17
1 5 (1,589 ) (1,110 ) 6,166 4,670
EXPENSES
Exploration 0 0 0 0 87 83
Purchases of crude oil and products 0 0 (1,589 ) (1,110 ) 3,661 2,320
Production and manufacturing 0 0 0 0 1,030 1,030
Selling and general 7 77 0 0 250 330
Federal excise tax 0 0 0 0 304 306
Depreciation and depletion 2 2 0 0 182 197
Financing costs 1 1 0 0 1 2
TOTAL EXPENSES 10 80 (1,589 ) (1,110 ) 5,515 4,268
INCOME BEFORE INCOME TAXES (9 ) (75 ) 0 0 651 402
INCOME TAXES (3 ) (17 ) 0 0 175 113
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