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Sunoco Inc (95304) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2011

Sunoco Inc

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CIK: 95304

Exhibit 99.1

 

   LOGO       News Release

 

Sunoco, Inc.

1818 Market Street, Suite 1500

Philadelphia, PA 19103

 

For further information contact:    For release: IMMEDIATELY

    Thomas Golembeski (media) 215-977-6298

    Clare McGrory (investors) 215-977-6764

No. 7-12

SUNOCO UPDATES PRELIMINARY FOURTH QUARTER 2011 RESULTS

No Change to Preliminary Pretax Results; After-Tax Amounts Provided

PHILADELPHIA, February 15, 2012 — Sunoco, Inc. (NYSE: SUN) today updated the information contained in its preliminary release on pretax earnings on February 2, 2012 to include the tax provision and after-tax results. There were no changes to the previously reported pretax amounts. Sunoco reported a net loss attributable to Sunoco shareholders of $362 million ($3.39 per share diluted) for the fourth quarter of 2011 versus net income attributable to Sunoco shareholders of $87 million ($0.72 per share diluted) for the fourth quarter of 2010. Excluding special items, Sunoco had income of $5 million ($0.05 per share diluted) for the fourth quarter of 2011 versus income of $13 million ($0.11 per share diluted) for the fourth quarter of 2010. Key fourth quarter details include:

 

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Logistics and Retail contributed pretax income of $106 million

 

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Refining and Supply reported a pretax loss of $117 million

 

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Completed the separation of SunCoke Energy, Inc. in January 2012

 

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Recognized a $630 million pretax provision ($374 million after tax) for additional asset write-downs and idling expenses at the Philadelphia and Marcus Hook refineries

The discussion of pretax business results below is unchanged from the preliminary release on February 2. The following updated information for the fourth quarter of 2011 has been provided in this release:

 

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Earnings per share amounts

 

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A description of the tax benefits recorded in the fourth quarter for income excluding special items

 

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After-tax amounts for the special items

 

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Earnings profile of Sunoco business tables to reflect the tax amounts

 

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Statements of operations, balance sheets and statements of cash flows

 

1

The following information was filed by Sunoco Inc on Tuesday, February 21, 2012 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income And Equity
Consolidated Statements Of Comprehensive Income And Equity (parenthetical)
Consolidated Statements Of Operations
Business Segment Information
Business Segment Information (narrative) (details)
Business Segment Information (schedule Of Unaffiliated Customers And Other Operating Revenue By Product Or Service) (details)
Business Segment Information (segment Reporting Information) (details)
Business Segment Information (tables)
Changes In Business And Other Matters
Changes In Business And Other Matters (changes In Liability For Employee Terminations And Other Exit Costs) (details)
Changes In Business And Other Matters (effects Of Acquisitions In Consolidated Financial Position) (details)
Changes In Business And Other Matters (narrative) (details)
Changes In Business And Other Matters (provision Of Asset Write-downs And Other Matters) (details)
Changes In Business And Other Matters (schedule Of Assets Held For Sale) (details)
Changes In Business And Other Matters (schedule Of Income (loss) From Discontinued Operations Includes In Net Gain (loss) On Divestment ) (details)
Changes In Business And Other Matters (schedule Of Income (loss) From Discontinued Operations) (details)
Changes In Business And Other Matters (significant Classes Of Assets And Liabilities) (details)
Changes In Business And Other Matters (tables)
Commitments And Contingent Liabilities
Commitments And Contingent Liabilities (accrued Liability For Environmental Remediation Classified In The Balance Sheet) (details)
Commitments And Contingent Liabilities (changes In The Accrued Liability For Environmental Remediation) (details)
Commitments And Contingent Liabilities (future Minimum Annual Rentals Applicable To Noncancelable Operating Leases) (details)
Commitments And Contingent Liabilities (narrative) (details)
Commitments And Contingent Liabilities (tables)
Debt
Debt (long-term Debt Maturities And Sinking Fund Requirements) (details)
Debt (narrative) (details)
Debt (schedule Of Long-term Debt (including Current Portion) By Issuer) (details)
Debt (schedule Of Long-term Debt) (details)
Debt (tables)
Deferred Charges And Other Assets
Deferred Charges And Other Assets (schedule Of Deferred Charges And Other Assets) (details)
Deferred Charges And Other Assets (tables)
Earnings Per Share Data
Earnings Per Share Data (schedule Of Weighted-average Number Of Shares) (details)
Earnings Per Share Data (tables)
Fair Value Measurements
Fair Value Measurements (narrative) (details)
Fair Value Measurements (schedule Of Derivative Impact On Financial Performance) (details)
Fair Value Measurements (tables)
Income Taxes
Income Taxes (changes In Unrecognized Tax Benefits) (details)
Income Taxes (component Of Income Tax Expense (benefit) Attributable To Continuing Operations) (details)
Income Taxes (effects Of Temporary Differences That Comprise Net Deferred Income Tax Liability) (details)
Income Taxes (effects Of Temporary Differences That Comprise Net Deferred Income Tax Liability) (details)
Income Taxes (narrative) (details)
Income Taxes (reconciliation Of Income Tax Expense (benefit) Attributable To Continuing Operations) (details)
Income Taxes (tables)
Inventories
Inventories (components Of Inventories) (details)
Inventories (narrative) (details)
Inventories (tables)
Investments And Long-term Receivables
Investments And Long-term Receivables (narrative) (details)
Investments And Long-term Receivables (schedule Of Investments And Long-term Receivables) (details)
Investments And Long-term Receivables (tables)
Noncontrolling Interests
Noncontrolling Interests (narrative) (details)
Noncontrolling Interests (schedule Of Distribution Levels And Distribution Allocations Between The General Partner And The Holders Of The Partnership's Limited Partner Units ) (details)
Noncontrolling Interests (schedule Of Noncontrolling Interest) (details)
Noncontrolling Interests (tables)
Other Deferred Credits And Liabilities
Other Deferred Credits And Liabilities (schedule Of Other Deferred Credits And Liabilities) (details)
Other Income, Net
Other Income, Net (components Of Other Income) (details)
Other Income, Net (tables)
Properties, Plants And Equipment
Properties, Plants And Equipment (schedule Of Properties, Plants And Equipment) (details)
Properties, Plants And Equipment (tables)
Quarterly Financial And Stock Market Information
Quarterly Financial And Stock Market Information (summary Of Quarterly Financial And Stock Market Information) (details)
Retirement Benefit Plans
Retirement Benefit Plans (components Of Other Comprehensive Income (loss)) (details)
Retirement Benefit Plans (narrative) (details)
Retirement Benefit Plans (schedule Of Benefit Payments Expected Future Service) (details)
Retirement Benefit Plans (schedule Of Change In Fair Value For Plan Assets Measured Using Significant Unobservable Inputs (level 3)) (details)
Retirement Benefit Plans (schedule Of Changes In Benefit Obligations And Fair Value Of Plan Assets) (details)
Retirement Benefit Plans (schedule Of Cumulative Amounts Not Yet Recognized In Net Income (loss)) (details)
Retirement Benefit Plans (schedule Of Defined Benefit Plans And Postretirement Benefit Plans) (details)
Retirement Benefit Plans (schedule Of Defined Benefit Plans Assets Measured At Fair Value, By Input Level) (details)
Retirement Benefit Plans (schedule Of Target Allocation Of Plan Assets) (details)
Retirement Benefit Plans (schedule Of Weighted-average Assumptions To Determine Defined Benefit Plans And Postretirement Benefit Plans Expense) (details)
Retirement Benefit Plans (schedule Of Weighted-average Assumptions Used To Determine Benefit Obligations For The Plan) (details)
Retirement Benefit Plans (tables)
Shareholders' Equity
Shareholders' Equity (components Of Accumulated Other Comprehensive Loss) (details)
Shareholders' Equity (narrative) (details)
Shareholders' Equity (tables)
Stock-based Incentive Plans
Stock-based Incentive Plans (narrative) (details)
Stock-based Incentive Plans (schedule Of Stock Option Activity) (details)
Stock-based Incentive Plans (schedule Of Stock Unit Activity) (details)
Stock-based Incentive Plans (schedule Of Weighted-average Fair Value Assumptions) (details)
Stock-based Incentive Plans (tables)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (narrative) (details)
Summary Of Significant Accounting Policies (policy)
CIK: 95304
Form Type: 10-K Annual Report
Accession Number: 0001193125-12-085407
Submitted to the SEC: Tue Feb 28 2012 4:35:59 PM EST
Accepted by the SEC: Tue Feb 28 2012
Period: Saturday, December 31, 2011
Industry: Petroleum Refining

External Resources:
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