BP 2011 Annual Report Download - page 183

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Financial statements
BP Annual Report and Form 20-F 2011 181
Consolidated financial statements of the BP group
Group cash flow statement
For the year ended 31 December $ million
Note 2011 2010 2009
Operating activities
Profit (loss) before taxation 38,834 (4,825) 25,124
Adjustments to reconcile profit (loss) before taxation to net cash provided by
operating activities
Exploration expenditure written off 15 1,024 375 593
Depreciation, depletion and amortization 911,135 11,164 12,106
Impairment and (gain) loss on sale of businesses and fixed assets 5(2,072) (4,694) 160
Earnings from jointly controlled entities and associates (6,220) (4,757) (3,901)
Dividends received from jointly controlled entities and associates 5,381 3,277 3,003
Interest receivable (198) (277) (258)
Interest received 216 205 203
Finance costs 17 1,246 1,170 1,110
Interest paid (1,110) (912) (909)
Net finance expense (income) relating to pensions and other post-retirement benefits 37 (263) (47) 192
Share-based payments (88) 197 450
Net operating charge for pensions and other post-retirement benefits, less
contributions and benefit payments for unfunded plans (1,004) (959) (887)
Net charge for provisions, less payments 2,976 19,217 650
(Increase) decrease in inventories (3,988) (3,895) (5,363)
(Increase) decrease in other current and non-current assets (9,913) (15,620) 7,595
Increase (decrease) in other current and non-current liabilities (5,767) 20,607 (5,828)
Income taxes paid (8,035) (6,610) (6,324)
Net cash provided by operating activities 22,154 13,616 27,716
Investing activities
Capital expenditure (17,845) (18,421) (20,650)
Acquisitions, net of cash acquired (10,909) (2,468) 1
Investment in jointly controlled entities (857) (461) (578)
Investment in associates (55) (65) (164)
Proceeds from disposals of fixed assets 53,500 7,492 1,715
Proceeds from disposals of businesses, net of cash disposeda5(768) 9,462 966
Proceeds from loan repayments 301 501 530
Other ––47
Net cash used in investing activities (26,633) (3,960) (18,133)
Financing activities
Net issue of shares 74 169 207
Proceeds from long-term financing 11,600 11,934 11,567
Repayments of long-term financing (9,102) (4,702) (6,021)
Net increase (decrease) in short-term debt 2,227 (3,619) (4,405)
Dividends paid
BP shareholders (4,072) (2,627) (10,483)
Minority interest (245) (315) (416)
Net cash provided by (used in) financing activities 482 840 (9,551)
Currency translation differences relating to cash and cash equivalents (492) (279) 110
Increase (decrease) in cash and cash equivalents (4,489) 10,217 142
Cash and cash equivalents at beginning of year 18,556 8,339 8,197
Cash and cash equivalents at end of year 14,067 18,556 8,339
a 2010 included a deposit received in advance of $3,530 million in respect of the expected sale of our interest in Pan American Energy LLC; 2011 includes the repayment of the same amount following
the termination of the sale agreement as described in Note 4.
http://www.bp.com/downloads/cashflow