Other accrued liabilities.. 43,648 37, 199 Reserve for payments to be made to the Saudi Arab Government in accordance with the provisions of the general agreement dated Dec. 20, 1972, and related documents. 122, 600 Net assets..... Represented by: Deposit received from the Saudi Arab Government in anticipation of issuance of capital shares by Aramco to implement, in the corporate form, the provisions of the general agreement betweeen Aramco and the Saudi Arab Government dated Dec. 20, 1972, and related documents upon the negotiation and execution of a subscription agreement between Aramco and the Saudi Arab Government... Capital stock, $100 par value__ Capital received in excess of par value.. Earnings retained in the business_. Less amount reserved for payment to be made to Saudi Arab Government in accordance with the provisions of the general agreement dated Dec. 20, 1972, and related documents__ Net assets... 5,845 6, 430 18,706 16, 142 29, 233 32, 917 53, 784 55, 489 37,867 24,281 2, 015, 221 972, 648 EXHIBIT A ARABIAN AMERICAN OIL CO. AND SUBSIDIARIES STATEMENT OF CONSOLIDATED FINANCIAL POSITION, DEC. 31, 1972 AND 1971 Stockholders' equity: Capital stock, $100 par value, authorized, 11,667 shares; outstanding, 11,666%.. Earnings retained in the business. Total stockholders' equity... Note: See notes to consolidated financial statements (exhibit D). EXHIBIT B ARABIAN AMERICAN OIL CO., AND SUBSIDIARIES STATEMENT OF CONSOLIDATED INCOME AND EARNINGS RETAINED IN THE BUSINESS FOR THE YEARS ENDED DEC. 31, 1972 AND 1971 [Figures in parenthesis denote deduction] 1972 1971 Revenues: Net sales to buyers (stockholders or subsidia ries of stockholders) under off- Local sales (schedule 8). Other income (schedule 8). Total revenues. Cost of sales, expenses, and other deductions: Cost of sales (Schedule 9): Costs, operating, and general expenses, other than those listed below Royalties (schedule 16). Trans-Arabian pipe line expenses (including depreciation and amortization: Depreciation and amortization other than depreciation and amortization in- Exploration expenses (schedule 18) Dry hole and abandoned well expense (schedule 5). Decrease (increase) in inventories of crude oil and compnay products.. Less cost of delivered dividend in kind (oil) included above (note 4). Losses on materials and supplies (schedule 19). Payments in lieu of barter oil supplemental payments.. Provision for taxes on income: Saudi Arab income taxes: Deferred (note 1). U.S. income taxes (note 3). Other deductions (schedule 19). Total cost of sales, expenses, and other deductions. Crude oil (at annual average cost of crude oil)..... Total dividends declared.. Earnings retained in the business at end of the year.. 866, 357, 429 696, 013, 826 Note: See notes to consolidated financial statements (exhibit D). 30-229-74-pt. 4 EXHIBIT C ARABIAN AMERICAN OIL CO. AND SUBSIDIARIES STATEMENT OF CHANGES IN CONSOLIDATED FINANCIAL POSITION FOR THE YEARS ENDED DEC. 31, 1972, NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 1. SIGNIFICANT ACCOUNTING POLICIES (a) Consolidation policy The accompanying consolidated financial statements include the accounts of Arabian American Oil Company (Aramco) and its subsidiaries; Trans-Arabian Pipe Line Company (Tapline), Aramco Realty Company, and Aramco Overseas Company, all of which are wholly-owned. (b) Revenues-Net sales to buyers The amounts reported in the accompanying Statement of Consolidated Income and Earnings Retained in the Business as Net Sales to Buyers represent amounts billed by Aramco to its stockholders or subsidiaries of stockholders based, with minor exceptions, on publicly offered prices for deliveries at Ras Tanura or Sidon, less applicable marketing allowances. Under agreement with the Saudi Arab Government, Aramco bills substantially all sales of crude oil and refined products at the publicly offered prices of Aramco's offtakers, less the aforementioned allowances, where applicable. |