BP 2010 Annual Report Download - page 27
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Businessreview
Business review
Non-operating items
Non-operatingitemsarechargesandcreditsarisinginconsolidatedentitiesthatBPdisclosesseparatelybecauseitconsiderssuchdisclosurestobe
meaningfulandrelevanttoinvestors.Theyareprovidedinordertoenableinvestorstobetterunderstandandevaluatethegroup’snancialperformance.
Ananalysisofnon-operatingitemsisshowninthetablebelow.
$million
2010 2009 2008
ExplorationandProduction
Impairmentandgain(loss)onsaleofbusinessesandxedassets 3,812 1,574 (1,015)
Environmentalandotherprovisions (54) 3 (12)
Restructuring,integrationandrationalizationcosts (137) (10) (57)
Fairvaluegain(loss)onembeddedderivatives (309) 664 (163)
Other (113) 34 257
3,199 2,265 (990)
ReningandMarketing
Impairmentandgain(loss)onsaleofbusinessesandxedassetsa877 (1,604) 801
Environmentalandotherprovisions (98) (219) (64)
Restructuring,integrationandrationalizationcosts (97) (907) (447)
Fairvaluegain(loss)onembeddedderivatives – (57) 57
Other (52) 184 –
630 (2,603) 347
Otherbusinessesandcorporate
Impairmentandgain(loss)onsaleofbusinessesandxedassets 5 (130) (166)
Environmentalandotherprovisions (103) (75) (117)
Restructuring,integrationandrationalizationcosts (81) (183) (254)
Fairvaluegain(loss)onembeddedderivatives – – (5)
Other (21) (101) (91)
(200) (489) (633)
GulfofMexicooilspillresponse (40,858) – –
Totalbeforeinterestandtaxation (37,229) (827) (1,276)
Financecostsb (77) – –
Totalbeforetaxation (37,306) (827) (1,276)
Taxationcredit(charge)c 11,857 (240) 480
Totalaftertaxation (25,449) (1,067) (796)
a 2009includes$1,579millioninrelationtotheimpairmentofgoodwillallocatedtotheUSWestCoastfuelsvaluechain.
b FinancecostsrelatetotheGulfofMexicooilspill.SeeFinancialstatements–Note2onpage158forfurtherdetails.
c T axiscalculatedbyapplyingdiscretequarterlyeffectivetaxrates(excludingtheimpactoftheGulfofMexicooilspill)ongroupprotorloss,tothenon-operatingitemsastheyariseeachquarter.However,
theUSstatutorytaxratehasbeenusedforexpendituresrelatingtotheGulfofMexicooilspillthatqualifyfortaxrelief.In2009,notaxcreditwascalculatedonthegoodwillimpairmentinReningand
Marketingbecausethechargeisnottaxdeductible.
BPAnnualReportandForm20-F2010 25