BP 2006 Annual Report Download - page 142

140
35 Trade and other payables
$ million
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
2006 2005
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Current Non-current Current Non-current
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Trade 28,319 – 28,614 –
Jointly controlled entities 87 – 251 –
Associates 305 – 627 –
Production and similar taxes 852 899 763 1,281
Social security 59 – 78 –
Other 12,614 531 11,803 654
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42,236 1,430 42,136 1,935
$ million
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
2006 2005
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Currency of denomination Currency of denomination
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Other Other
US dollar Sterling Euro currencies Total US dollar Sterling Euro currencies Total
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Functional currency
US dollar – 1,476 165 5,818 7,459 – 1,802 157 6,640 8,599
Sterling 396 – 507 – 903 133 – 306 – 439
Euro 185 2 – 1 188 611 4 – 17 632
Other currencies 322 4 8 – 334 339 12 38 – 389
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903 1,482 680 5,819 8,884 1,083 1,818 501 6,657 10,059
Trade and other payables of the group at 31 December 2006 have the maturities shown below.
$ million
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
2006 2005
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Within one year 42,236 42,136
1 to 2 years 269 276
2 to 3 years 215 211
3 to 4 years 153 182
4 to 5 years 184 179
Over 5 years 609 1,087
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43,666 44,071
The carrying amounts of Trade and other payables approximate their fair value. Included within Other payables for 2005 was the deferred consideration
for the acquisition of our interest in TNK-BP, which was discounted on initial recognition. The remaining Trade and other payables are predominantly
interest free.