Standardized measure of discounted future net cash flows relating to proven oil and gas reserves The following information was determined based on the provisions of the standard Extractive Activities – Oil and Gas (Topic 932) published by FASB. Based on this, a standardized measure of discounted future net cash flows with the relevant revenues, costs and income tax rates is to be made. The proven reserves are valued at the average price calculated from the prices on the first day of the month for the past business year. The values thus determined are discounted at a 10% annual discount rate. (XLS:) Download Standardized measure of discounted future net cash flows 2017 (million €) Consolidated and equity-accounted companies Germany Rest of Europe Russia North Africa, Middle East South America Total Group Thereof at equity Future revenues 1,538 9,543 6,556 3,476 3,362 24,475 3,561 Future production/development costs 1,486 4,767 1,786 1,173 1,562 10,774 1,426 Future income taxes (22) 2,589 966 2,089 491 6,113 2,002 Future net cash flows, not discounted 74 2,187 3,804 214 1,309 7,588 133 10% discount rate (96) 379 1,544 38 285 2,150 (1) Standardized measure of discounted future net cash flows 170 1,808 2,260 176 1,024 5,438 134 Thereof equity-accounted companies – (27) 26 135 – 134 134 (XLS:) Download Standardized measure of discounted future net cash flows 2016 (million €) Consolidated and equity-accounted companies Germany Rest of Europe Russia North Africa, Middle East South America Total Group Thereof at equity Future revenues 1,365 6,975 5,732 3,478 3,428 20,978 3,610 Future production/development costs 1,549 5,264 1,633 1,378 1,203 11,027 1,582 Future income taxes (120) 164 690 1,937 570 3,241 1,933 Future net cash flows, not discounted (64) 1,547 3,409 163 1,655 6,710 95 10% discount rate (132) 527 1,278 59 508 2,240 13 Standardized measure of discounted future net cash flows 68 1,020 2,131 104 1,147 4,470 82 Thereof equity-accounted companies – (42) 25 99 – 82 82 (XLS:) Download Summary of changes in standardized measure of discounted future net cash flows 2017 (million €) Consolidated and equity-accounted companies Germany Rest of Europe Russia North Africa, Middle East South America Total Group Thereof at equity As of January 1 68 1,020 2,131 104 1,147 4,470 82 Sales of oil and gas produced, net of production costs in the current period (151) (868) (488) (104) (282) (1,893) (94) Net changes in prices and production costs at balance sheet date 242 1,410 474 205 (74) 2,257 143 Net changes from extensions, discoveries and improved recovery, less related costs – – – – – – – Revisions of previous reserves estimates 46 973 248 90 105 1,462 72 Investments in the period 67 652 79 – 134 932 7 Changes in estimated investments in future periods (41) 286 (278) (27) (187) (247) (44) Purchase/sale of reserves – – – – – – – Net change in income taxes (61) (1,779) (145) (227) 41 (2,171) (163) Accretion of discount – 115 239 135 140 629 131 Other – (1) – – – (1) – Standardized measure of discounted future net cash flows as of December 31 170 1,808 2,260 176 1,024 5,438 134 Thereof equity-accounted companies – (27) 26 135 – 134 134 (XLS:) Download Summary of changes in standardized measure of discounted future net cash flows 2016 (million €) Consolidated and equity-accounted companies Germany Rest of Europe Russia North Africa, Middle East South America Total Group Thereof at equity As of January 1 209 1,405 3,025 304 1,351 6,294 346 Sales of oil and gas produced, net of production costs in the current period (130) (747) (380) (97) (280) (1,634) (105) Net changes in prices and production costs at balance sheet date (186) (1,416) (1,292) (482) (242) (3,618) (572) Net changes from extensions, discoveries and improved recovery, less related costs – – – – – – – Revisions of previous reserves estimates 30 283 68 (175) 78 284 (172) Investments in the period 67 702 87 – 144 1,000 79 Changes in estimated investments in future periods 2 (39) 63 24 (182) (132) (27) Purchase/sale of reserves – – – – – – – Net change in income taxes 59 625 212 347 116 1,359 351 Accretion of discount 17 207 348 183 171 926 182 Other – – – – (9) (9) – Standardized measure of discounted future net cash flows as of December 31 68 1,020 2,131 104 1,147 4,470 82 Thereof equity-accounted companies – (42) 25 99 – 82 82 back next