BP 2005 Annual Report Download - page 114
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112 Making energy more
Notes on financial statements continued
50 First-time adoption of International Financial Reporting Standards continued
GROUP CASH FLOW RECONCILIATION FROM UK GAAP TO IFRS
For the year ended 31 December 2004
UK GAAP
in IFRS Joint
format arrangements
Operating activities
Profit before taxation 24,243 (16)
Adjustments to reconcile profit before taxation to net cash provided by operating activities
Exploration expenditure written off 274 –
Depreciation, depletion and amortization 10,840 (110)
Impairment and (gain) loss on sale of businesses and fixed assets 928 –
Earnings from jointly controlled entities and associates (3,577) (34)
Dividends received from jointly controlled entities and associates 2,199 –
Interest receivable (272) (12)
Interest received 332 12
Finance costs 642 –
Interest paid (694) –
Other finance expense 357 –
Share-based payments 138 –
Net operating charge for pensions and other post-retirement benefits, less contributions (67) –
Net charge for provisions, less payments (110) –
(Increase) decrease in inventories (3,595) 16
(Increase) decrease in other current and non-current assets (10,920) (10)
Increase (decrease) in other current and non-current liabilities 9,726 60
Income taxes paid (6,378) (3)
Net cash provided by operating activities 24,066 (97)
Investing activities
Capital expenditure (13,035) 158
Acquisitions, net of cash acquired (1,503) –
Investment in jointly controlled entities (1,522) (126)
Investment in associates (942) –
Proceeds from disposal of property, plant and equipment 4,236 –
Proceeds from disposal of businesses 725 –
Proceeds from loan repayments 87 –
Net cash used in investing activities (11,954) 32
Financing activities
Net repurchase of shares (7,208) –
Proceeds from long-term financing 2,675 –
Repayments of long-term financing (2,204) –
Net (decrease) increase in short-term debt (40) 16
Dividends paid
BP shareholders (6,041) –
Minority interest (33) –
Net cash used in financing activities (12,851) 16
Currency translation differences relating to cash and cash equivalents 91 –
(Decrease) increase in cash and cash equivalents (648) (49)
Cash and cash equivalents at beginning of year 2,132 (76)
Cash and cash equivalents at end of year 1,484 (125)