BP 2010 Annual Report Download - page 224

Notesonnancialstatements
47.CondensedconsolidatinginformationoncertainUSsubsidiaries
BPp.l.c.fullyandunconditionallyguaranteesthepaymentobligationsofits100%-ownedsubsidiaryBPExploration(Alaska)Inc.undertheBPPrudhoeBay
RoyaltyTrust.ThefollowingnancialinformationforBPp.l.c.,BPExploration(Alaska)Inc.andallothersubsidiariesonacondensedconsolidatingbasisis
intendedtoprovideinvestorswithmeaningfulandcomparablenancialinformationaboutBPp.l.c.anditssubsidiaryissuersofregisteredsecuritiesandis
providedpursuanttoRule3-10ofRegulationS-Xinlieuoftheseparatenancialstatementsofeachsubsidiaryissuerofpublicdebtsecurities.Investments
includetheinvestmentsinsubsidiariesrecordedundertheequitymethodforthepurposesofthecondensedconsolidatingnancialinformation.Equity
incomeofsubsidiariesisthegroup’sshareofprotrelatedtosuchinvestments.Theeliminationsandreclassicationscolumnincludesthenecessary
amountstoeliminatetheintercompanybalancesandtransactionsbetweenBPp.l.c.,BPExploration(Alaska)Inc.andothersubsidiaries.Thenancial
informationpresentedinthefollowingtablesforBPExploration(Alaska)Inc.forallyearsincludesequityincomearisingfromsubsidiariesofBPExploration
(Alaska)Inc.someofwhichoperateoutsideofAlaskaandexcludestheBPgroup’smidstreamoperationsinAlaskathatarereportedthroughdifferentlegal
entitiesandthatareincludedwithinthe‘othersubsidiaries’columninthesetables.BPp.l.c.alsofullyandunconditionallyguaranteessecuritiesissuedby
BPCapitalMarketsp.l.c.andBPCapitalMarketsAmericaInc.Thesecompaniesare100%-ownednancesubsidiariesofBPp.l.c.
Income statement
 $million
For the year ended 31 December  2010
Issuer Guarantor
BP Eliminations
Exploration Other and
(Alaska) Inc. BP p.l.c. subsidiaries reclassications BP group
Salesandotheroperatingrevenues    4,793 – 297,107 (4,793) 297,107
Earningsfromjointlycontrolledentities–afterinterestandtax   – – 1,175 – 1,175
Earningsfromassociates–afterinterestandtax    – – 3,582 – 3,582
Equity-accountedincomeofsubsidiaries–afterinterestandtax   620 (3,567) – 2,947 –
Interestandotherrevenues    – 188 714 (221) 681
Gainsonsaleofbusinessesandxedassets    – 260 6,376 (253) 6,383
Totalrevenuesandotherincome    5,413 (3,119) 308,954 (2,320) 308,928
Purchases     637 – 220,367 (4,793) 216,211
Productionandmanufacturingexpenses    966 – 63,649 – 64,615
Productionandsimilartaxes    998 – 4,246 – 5,244
Depreciation,depletionandamortization    351 – 10,813 – 11,164
Impairmentandlossesonsaleofbusinessesandxedassets   1,524 – 1,689 (1,524) 1,689
Explorationexpense    – – 843 – 843
Distributionandadministrationexpenses    16 673 11,975 (109) 12,555
Fairvaluelossonembeddedderivatives    – – 309 – 309
Prot(loss)beforeinterestandtaxation    921 (3,792) (4,937) 4,106 (3,702)
Financecosts    2 31 1,249 (112) 1,170
Netnance(income)expenserelatingtopensionsand
 otherpost-retirementbenets    4 (388) 337 – (47)
Prot(loss)beforetaxation    915 (3,435) (6,523) 4,218 (4,825)
Taxation     143 31 (1,675) – (1,501)
Prot(loss)fortheyear    772 (3,466) (4,848) 4,218 (3,324)
Attributableto
 BPshareholders    772 (3,466) (5,243) 4,218 (3,719)
 Minorityinterest    – – 395 – 395
    772 (3,466) (4,848) 4,218 (3,324)
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222BPAnnualReportandForm20-F2010