BP 2010 Annual Report Download - page 25
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Businessreview
Business review
Selected nancial informationa
$millionexceptpershareamounts
2010 2009 2008 2007 2006*
Incomestatementdata
Salesandotheroperatingrevenuesfromcontinuingoperationsb 297,107 239,272 361,143 284,365 265,906
Replacementcostprot(loss)beforeinterestandtaxc
Bybusiness
ExplorationandProduction 30,886 24,800 38,308 27,602 31,026
ReningandMarketing 5,555 743 4,176 2,621 5,661
Otherbusinessesandcorporate (1,516) (2,322) (1,223) (1,209) (841)
GulfofMexicooilspillresponsed (40,858) – – – –
Consolidationadjustment–unrealizedprotininventory 447 (717) 466 (220) 65
Replacementcostprot(loss)beforeinterestandtaxationfrom
continuingoperationsb (5,486) 22,504 41,727 28,794 35,911
Inventoryholdinggains(losses) 1,784 3,922 (6,488) 3,558 (253)
Prot(loss)beforeinterestandtaxationfromcontinuingoperationsb (3,702) 26,426 35,239 32,352 35,658
Financecostsandnetnanceexpenseorincomerelatingtopensions
andotherpost-retirementbenets (1,123) (1,302) (956) (741) (516)
Taxation 1,501 (8,365) (12,617) (10,442) (12,516)
Prot(loss)fromcontinuingoperationsb (3,324) 16,759 21,666 21,169 22,626
Prot(loss)fortheyear (3,324) 16,759 21,666 21,169 22,601
Prot(loss)fortheyearattributabletoBPshareholders (3,719) 16,578 21,157 20,845 22,315
Perordinaryshare–cents
Prot(loss)fortheyearattributabletoBPshareholders
Basic (19.81) 88.49 112.59 108.76 111.41
Diluted (19.81) 87.54 111.56 107.84 110.56
Prot(loss)fromcontinuingoperationsattributabletoBPshareholdersb
Basic (19.81) 88.49 112.59 108.76 111.54
Diluted (19.81) 87.54 111.56 107.84 110.68
Replacementcostprot(loss)fortheyearc (4,519) 14,136 26,102 18,694 22,823
Replacementcostprot(loss)fortheyearattributabletoBPshareholdersc (4,914) 13,955 25,593 18,370 22,537
Perordinaryshare–cents
Replacementcostprot(loss)fortheyearattributabletoBPshareholdersc (26.17) 74.49 136.20 95.85 112.52
Dividendspaidpershare–cents 14.00 56.00 55.05 42.30 38.40
Dividendspaidpershare–pence 8.679 36.417 29.387 20.995 21.104
Capitalexpenditureandacquisitionse 23,016 20,309 30,700 20,641 17,231
Ordinarysharedataf
Averagenumberoutstandingof25centordinaryshares(sharesmillionundiluted) 18,786 18,732 18,790 19,163 20,028
Averagenumberoutstandingof25centordinaryshares(sharesmilliondiluted) 18,998 18,936 18,963 19,327 20,195
Balancesheetdata
Totalassets 272,262 235,968 228,238 236,076 217,601
Netassets 95,891 102,113 92,109 94,652 85,465
Sharecapital 5,183 5,179 5,176 5,237 5,385
BPshareholders’equity 94,987 101,613 91,303 93,690 84,624
Financedebtdueaftermorethanoneyear 30,710 25,518 17,464 15,651 11,086
Netdebttonetdebtplusequityg 21% 20% 21% 22% 20%
a T hisinformation,insofarasitrelatesto2010,hasbeenextractedorderivedfromtheauditedconsolidatednancialstatementsoftheBPgrouppresentedonpages141-227.Note1tothenancial
statementsincludesdetailsonthebasisofpreparationofthesenancialstatements.Theselectedinformationshouldbereadinconjunctionwiththeauditednancialstatementsandrelatednotes
elsewhereherein.
b ExcludesInnovene,whichwastreatedasadiscontinuedoperationinaccordancewithIFRS5‘Non-currentAssetsHeldforSaleandDiscontinuedOperations’in2006.
c Replacementcostprotorlossreectsthereplacementcostofsupplies.Thereplacementcostprotorlossfortheyearisarrivedatbyexcludingfromprotinventoryholdinggainsandlossesandtheir
associatedtaxeffect.ReplacementcostprotorlossforthegroupisnotarecognizedGAAPmeasure.TheequivalentmeasureonanIFRSbasisis‘Prot(loss)fortheyearattributabletoBPshareholders’.
Furtherinformationoninventoryholdinggainsandlossesisprovidedonpage81.
d UnderIFRSthesecostsarepresentedasareconcilingitembetweenthesumoftheresultsofthereportablesegmentsandthegroupresults.
eExcludingacquisitionsandassetexchanges,capitalexpenditurefor2010was$19,610million(2009$20,001million,2008$28,186million,2007$19,194millionand2006$16,910million).Allcapital
expenditureandacquisitionsduringthepastveyearshavebeennancedfromcashowfromoperations,disposalproceedsandexternalnancing.2008includedcapitalexpenditureof$2,822million
andanassetexchangeof$1,909million,bothinrespectofourtransactionwithHuskyEnergyInc.,aswellascapitalexpenditureof$3,667millioninrespectofourpurchaseofallofChesapeakeEnergy
Corporation’sinterestintheArkomaBasinWoodfordShaleassetsandthepurchaseofa25%interestinChesapeake’sFayettevilleShaleassets.2007included$1,132millionfortheacquisitionofChevron’s
Netherlandsmanufacturingcompany.Capitalexpenditurein2006included$1billioninrespectofourinvestmentinRosneft.
f T henumberofordinarysharesshownhasbeenusedtocalculatepershareamounts.
g Netdebtandtheratioofnetdebttonetdebtplusequityarenon-GAAPmeasures.Webelievethatthesemeasuresprovideusefulinformationtoinvestors.Furtherinformationonnetdebtisgivenin
Financialstatements–Note36onpage198.
*
AsreportedinAnnualReportonForm20-F.Therewasa$500million($315millionposttax)timingdifferencebetweentheprotreportedunderIFRSintheAnnualReportandAccountsandtheprot
reportedunderIFRSinBP Annual Report on Form 20-F 2006.ForfurtherinformationseeBP Annual Report and Accounts 2006.
BPAnnualReportandForm20-F2010 23