BP 2012 Annual Report Download - page 300

10. Contingent liabilities
The parent company has issued guarantees under which amounts outstanding at 31 December 2012 were $45,400 million (2011 $41,847 million), of
which $45,370 million (2011 $40,449 million) related to guarantees in respect of subsidiary undertakings, including $44,629 million (2011 $39,708
million) in respect of borrowings by its subsidiary undertakings, and $30 million (2011 $30 million) in respect of liabilities of other third parties.
11. Share-based payments
Effect of share-based payment transactions on the company’s result and financial position
$ million
2012 2011
Total expense recognized for equity-settled share-based payment transactions 669 579
Total expense recognized for cash-settled share-based payment transactions 55
Total expense recognized for share-based payment transactions 674 584
Closing balance of liability for cash-settled share-based payment transactions 12 12
Total intrinsic value for vested cash-settled share-based payments –1
Information on the company’s share-based payment schemes is provided in Note 40 to the consolidated financial statements.
12. Auditor’s remuneration
Note 16 to the consolidated financial statements provides details of the remuneration of the company’s auditor on a group basis.
13. Directors’ remuneration
$ million
Remuneration of directors 2012 2011
Total for all directors
Emoluments 12 10
Gains made on the exercise of share options ––
Amounts awarded under incentive schemes 31
Emoluments
These amounts comprise fees paid to the non-executive chairman and the non-executive directors and, for executive directors, salary and benefits
earned during the relevant financial year, plus cash bonuses awarded for the year. There was no compensation for loss of office in 2012 (2011 nil and
2010 $3 million).
Pension contributions
During 2012, two executive directors participated in a non-contributory pension scheme established for UK staff by a separate trust fund to which
contributions are made by BP based on actuarial advice. Two US executive directors participated in the US BP Retirement Accumulation Plan during
2012.
Office facilities for former chairmen and deputy chairmen
It is customary for the company to make available to former chairmen and deputy chairmen, who were previously employed executives, the use of
office and basic secretarial facilities following their retirement. The cost involved in doing so is not significant.
Further information
Full details of individual directors’ remuneration are given in the directors’ remuneration report on pages 127-145.
PC11 Parent company financial statements of BP p.l.c.
BP Annual Report and Form 20-F 2012
The parent company financial statements of BP p.l.c. on pages PC1–PC11 do not form part of BP’s Annual Report on Form 20-F as filed with the SEC.