the main indicators and key elements affecting totalenergies paristte lsette nysette second quarter 2022 results are shown below  sales in   sales in volume for consolidated affiliates  sales in   sales in volume for consolidated and equity affiliates  this indicator represents the average margin on variable costs realized by totalenergies european refining business equal to the difference between the sales of refined products realized by totalenergies european refining and the crude purchases as well as associated variable costs divided by refinery throughput in tons 1 does not take into account oil gas and lng trading activities respectively main factors impacting the adjusted results of the quarter  sensitivities are revised once per year upon publication of the previous years fourth quarter results sensitivities are estimates based on assumptions about totalenergies portfolio in 2022 actual results could vary significantly from estimates based on the application of these sensitivities the impact of the eur sensitivity on adjusted net operating income is essentially attributable to refining  chemicals the terms totalenergies totalenergies company and company in this document are used to designate totalenergies se and the consolidated entities directly or indirectly controlled by totalenergies se likewise the words we us and our may also be used to refer to these entities or their employees the entities in which totalenergies se directly or indirectly owns a shareholding are separate and independent legal entities the data presented in this document is based on totalenergies internal preliminary reporting and is not audited this data is not intended to be a comprehensive summary of all items that will affect totalenergies ses results or to provide an estimate of the first quarter 2022 results actual results may vary to the extent permitted by law totalenergies se disclaims all liability from the use of this data this document may contain forwardlooking statements within the meaning of the private securities litigation reform act of 1995 notably with respect to the financial condition results of operations business activities and industrial strategy of totalenergies this document may also contain statements regarding the perspectives objectives areas of improvement and goals of totalenergies including with respect to climate change and carbon neutrality net zero emissions an ambition expresses an outcome desired by totalenergies it being specified that the means to be deployed do not depend solely on totalenergies these forwardlooking statements may generally be identified by the use of the future or conditional tense or forwardlooking words such as envisions intends anticipates believes considers plans expects thinks targets aims or similar terminology such forwardlooking statements included in this document are based on economic data estimates and assumptions prepared in a given economic competitive and regulatory environment and considered to be reasonable by totalenergies as of the date of this document these forwardlooking statements are not historical data and should not be interpreted as assurances that the perspectives objectives or goals announced will be achieved they may prove to be inaccurate in the future and may evolve or be modified with a significant difference between the actual results and those initially estimated due to the uncertainties notably related to the economic financial competitive and regulatory environment or due to the occurrence of risk factors such as notably the price fluctuations in crude oil and natural gas the evolution of the demand and price of petroleum products the changes in production results and reserves estimates the ability to achieve cost reductions and operating efficiencies without unduly disrupting business operations changes in laws and regulations including those related to the environment and climate currency fluctuations as well as economic and political developments changes in market conditions loss of market share and changes in consumer preferences or pandemics such as the covid19 pandemic additionally certain financial information is based on estimates particularly in the assessment of the recoverable value of assets and potential impairments of assets relating thereto neither totalenergies se nor any of its subsidiaries assumes any obligation to update publicly any forwardlooking information or statement objectives or trends contained in this document whether as a result of new information future events or otherwise the information on risk factors that could have a significant adverse effect on totalenergies business financial condition including its operating income and cash flow reputation outlook or the value of financial instruments issued by totalenergies is provided in the most recent version of the universal registration document which is filed by totalenergies se with the french autorité des marchés financiers and the annual report on form 20f filed with the united states securities and exchange commission sec financial information by business segment is reported in accordance with the internal reporting system and shows internal segment information that is used to manage and measure the performance of totalenergies in addition to ifrs measures certain alternative performance indicators are presented such as performance indicators excluding certain adjustment items ie special items inventory valuation effect and effect of changes in fair value adjusted net operating income adjusted net income these indicators are meant to facilitate the analysis of the financial performance of totalenergies and the comparison of income between periods they allow investors to track the measures used internally to manage and measure the performance of totalenergies the adjusted results adjusted net operating income adjusted net income are defined as replacement cost results adjusted for special items excluding the effect of changes in fair value for further details on the adjustment items please refer to the last published earnings statement and notes to the consolidated financial statements