General

9 Months Ended

Sep. 30, 2011

General [Abstract]

General

1. General.

The accompanying condensed consolidated financial statements are presented in accordance with the requirements of Form 10-Q and U.S. generally accepted accounting principles for interim financial reporting. They do not include all disclosures normally made in financial statements contained in Form 10-K. In management's opinion, all adjustments necessary for a fair presentation of the results of operations, financial position and cash flows for the periods shown have been made. All such adjustments are of a normal recurring nature, except for the gain on divestment of discontinued chemicals operations and related inventory, the gain on divestment of the Toledo refinery and related inventory, the gain resulting from the reduction of crude oil and refined product inventories at the Toledo refinery prior to its sale, the gain on remeasurement of pipeline equity interests and the provision for asset write-downs and other matters (Notes 2, 3, 6 and 13). Results for the three and nine months ended September 30, 2011 are not necessarily indicative of results for the full-year 2011.