BP 2010 Annual Report Download - page 27

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Businessreview
Business review
Non-operating items
Non-operatingitemsarechargesandcreditsarisinginconsolidatedentitiesthatBPdisclosesseparatelybecauseitconsiderssuchdisclosurestobe
meaningfulandrelevanttoinvestors.Theyareprovidedinordertoenableinvestorstobetterunderstandandevaluatethegroup’snancialperformance.
Ananalysisofnon-operatingitemsisshowninthetablebelow.
 $million
 2010 2009 2008
ExplorationandProduction
Impairmentandgain(loss)onsaleofbusinessesandxedassets 3,812 1,574 (1,015)
Environmentalandotherprovisions      (54) 3 (12)
Restructuring,integrationandrationalizationcosts      (137) (10) (57)
Fairvaluegain(loss)onembeddedderivatives      (309) 664 (163)
Other      (113) 34 257
 3,199 2,265 (990)
ReningandMarketing
Impairmentandgain(loss)onsaleofbusinessesandxedassetsa877 (1,604) 801
Environmentalandotherprovisions      (98) (219) (64)
Restructuring,integrationandrationalizationcosts      (97) (907) (447)
Fairvaluegain(loss)onembeddedderivatives      – (57) 57
Other      (52) 184 –
 630 (2,603) 347
Otherbusinessesandcorporate
Impairmentandgain(loss)onsaleofbusinessesandxedassets     5 (130) (166)
Environmentalandotherprovisions      (103) (75) (117)
Restructuring,integrationandrationalizationcosts      (81) (183) (254)
Fairvaluegain(loss)onembeddedderivatives      – – (5)
Other      (21) (101) (91)
 (200) (489) (633)
GulfofMexicooilspillresponse      (40,858) – –
Totalbeforeinterestandtaxation      (37,229) (827) (1,276)
Financecostsb (77) – –
Totalbeforetaxation      (37,306) (827) (1,276)
Taxationcredit(charge)c 11,857 (240) 480
Totalaftertaxation      (25,449) (1,067) (796)
 
a 2009includes$1,579millioninrelationtotheimpairmentofgoodwillallocatedtotheUSWestCoastfuelsvaluechain.
b FinancecostsrelatetotheGulfofMexicooilspill.SeeFinancialstatements–Note2onpage158forfurtherdetails.
c T axiscalculatedbyapplyingdiscretequarterlyeffectivetaxrates(excludingtheimpactoftheGulfofMexicooilspill)ongroupprotorloss,tothenon-operatingitemsastheyariseeachquarter.However,
theUSstatutorytaxratehasbeenusedforexpendituresrelatingtotheGulfofMexicooilspillthatqualifyfortaxrelief.In2009,notaxcreditwascalculatedonthegoodwillimpairmentinReningand
Marketingbecausethechargeisnottaxdeductible.
BPAnnualReportandForm20-F2010 25