BP 2006 Annual Report Download - page 118

116
7 Segmental analysis continued
$ million
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2004
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By business
Exploration
and
Production
Refining
and
Marketing
Gas,
Power
and
Renewables
Other
businesses
and
corporate
Consolidation
adjustment
and
eliminations
Total
group
Innovene
operations
Consolidation
adjustment
and
eliminationsa
Total
continuing
operations
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Sales and other operating revenues
Segment sales and other operating revenues 34,700 170,639 23,969 17,994 (43,999) 203,303 (17,448) 6,169 192,024
Less: sales between businesses (24,756) (10,632) (2,442) (6,169) 43,999 – 6,169 (6,169) –
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Third party sales 9,944 160,007 21,527 11,825 – 203,303 (11,279) – 192,024
Equity-accounted earnings 1,983 262 35 (12) – 2,268 12 – 2,280
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Segment revenues 11,927 160,269 21,562 11,813 – 205,571 (11,267) – 194,304
Interest and other revenues ––––673673(58)–615
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Total revenues 11,927 160,269 21,562 11,813 673 206,244 (11,325) – 194,919
Segment results
Profit (loss) before interest and tax 18,085 6,506 1,003 (371) (191) 25,032 526 188 25,746
Finance costs and other finance expense ––––(797)(797)17–(780)
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Profit (loss) before taxation 18,085 6,506 1,003 (371) (988) 24,235 543 188 24,966
Taxation ––––(6,973)(6,973)(53)(56)(7,082)
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Profit (loss) for the year 18,085 6,506 1,003 (371) (7,961) 17,262 490 132 17,884
Other segment information
Depreciation, depletion and amortization 5,583 2,532 218 679 – 9,012 (483) – 8,529
Impairment losses 435 195 – 891 – 1,521 (879) – 642
Impairment reversals 31––– –31––31
Losses on sale of businesses and fixed assets 227 371 – 416 – 1,014 (235) – 779
Gains on sale of businesses and fixed assets 162 104 56 1,365 – 1,687 (2) – 1,685
aIn the circumstances of discontinued operations, IFRS requires that the profits earned by the discontinued operations, in this case the Innovene operations, on sales to the
continuing operations be eliminated on consolidation from the discontinued operations and attributed to the continuing operations and vice versa. This adjustment has two
offsetting elements: the net margin on crude refined by Innovene as substantially all crude for its refineries was supplied by BP and most of the refined products
manufactured were taken by BP; and the margin on sales of feedstock from BP’s US refineries to Innovene’s manufacturing plants. The profits attributable to individual
segments are not affected by this adjustment. This representation does not indicate the profits earned by continuing or Innovene operations, as if they were standalone
entities, for past periods or likely to be earned in future periods.