BP 2014 Annual Report Download - page 209

9. Cash flow
Notes on cash flow statement
$ million
2014 2013
Reconciliation of net cash flow to movement of funds
Increase (decrease) in cash 25 (3)
Movement of funds 25 (3)
Net cash at 1 January 69
Net cash at 31 December 31 6
Notes on cash flow statement
Reconciliation of operating profit to net cash inflow (outflow) from operating activities 2014 2013
Operating profit 1,393 15,112
Net operating charge for pensions and other post-retirement benefits, less contributions (227) (127)
Dividends, interest and other income (2,321) (16,414)
Share-based payments 376 297
(Increase) decrease in debtors 14,391 (4,054)
Increase (decrease) in creditors (359) 373
Net cash inflow (outflow) from operating activities 13,253 (4,813)
$ million
Analysis of movements of funds
At
1 January
2014
Cash
flow
At
31 December
2014
Cash at bank 625 31
10. Contingent liabilities
The company has issued guarantees under which the maximum aggregate liabilities at 31 December 2014 were $51,463 million (2013 $47,042
million), the majority of which relate to finance debt of subsidiaries. The company has also issued uncapped indemnities and guarantees, including a
guarantee of subsidiaries’ liabilities under the PSC agreement relating to the Gulf of Mexico oil spill (see Note 2 to the consolidated financial
statements), and in relation to potential losses arising from environmental incidents involving ships leased and operated by a subsidiary.
11. Share-based payments
Effect of share-based payment transactions on the company’s result and financial position
$ million
2014 2013
Total expense recognized for equity-settled share-based payment transactions 770 709
Total (credit) expense recognized for cash-settled share-based payment transactions (81) 10
Total expense recognized for share-based payment transactions 689 719
Closing balance of liability for cash-settled share-based payment transactions 108 17
Total intrinsic value for vested cash-settled share-based payments 54 2
Additional information on the company’s share-based payment plans is provided in Note 9 to the consolidated financial statements.
12. Auditor’s remuneration
Note 34 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 2014 2013
Total for all directors
Emoluments 14 16
Amounts awarded under incentive schemes 14 2
Total 28 18
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 2014 (2013 $nil).
The parent company financial statements of BP p.l.c. on pages 197-206 do not form part of BP’s Annual Report on Form 20-F as filed with the SEC.
Financial statements
BP Annual Report and Form 20-F 2014 205