BP 2009 Annual Report Download - page 153
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28. Cash and cash equivalents
BP Annual Report and Accounts 2009
Notes on financial statements
Financial statements
151
$ million
2009 2008
Cash at bank and in hand 3,359 3,442
Term bank deposits 3,211 2,167
Other cash equivalents 1,769 2,588
8,339 8,197
Cash and cash equivalents comprise cash in hand; current balances with banks and similar institutions; term deposits of three months or less with
banks and similar institutions; and short-term highly liquid investments that are readily convertible to known amounts of cash, are subject to
insignificant risk of changes in value and have a maturity of three months or less from the date of acquisition. The carrying amounts of cash at bank
and in hand and term bank deposits approximate their fair values. Substantially all of the other cash equivalents are categorized within level 1 of the
fair value hierarchy.
Cash and cash equivalents at 31 December 2009 includes $1,095 million (2008 $2,133 million) that is restricted. This relates principally to
amounts required to cover initial margins on trading exchanges.
See Note 24 for further information.
29. Valuation and qualifying accounts
$ million
2009 2008 2007
Doubtful Fixed assets – Doubtful Fixed assets – Doubtful Fixed assets –
debts investments debts investments debts investments
At 1 January 391 935 406 146 421 151
Charged to costs and expenses 157 66 191 647 175 158
Charged to other accountsa12 6 (32) 143 34 2
Deductions (130) (658) (174) (1) (224) (165)
At 31 December 430 349 391 935 406 146
aPrincipally exchange adjustments.
Valuation and qualifying accounts are deducted in the balance sheet from the assets to which they apply.
30. Trade and other payables
$ million
2009 2008
Current Non-current Current Non-current
Financial liabilities
Trade payables 22,886 – 20,129 –
Amounts payable to jointly controlled entities 304 2,419 292 2,255
Amounts payable to associates 692 298 295 –
Other payables 7,531 195 9,882 287
31,413 2,912 30,598 2,542
Non-financial liabilities
Production and similar taxes 757 286 445 538
Other payables 3,034 – 2,601 –
3,791 286 3,046 538
35,204 3,198 33,644 3,080
Trade and other payables are predominantly interest free. See Note 24 for further information.