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Financial statements
BP Annual Report and Form 20-F 2011 223
Notes on financial statements
29. Trade and other receivables
$ million
2011 2010
Current Non-current Current Non-current
Financial assets
Trade receivables 27,929 508 24,255 –
Amounts receivable from jointly controlled entities 1,004 612 751 601
Amounts receivable from associates 492 159 448 220
Other receivables 5,429 746 4,763 1,342
34,854 2,025 30,217 2,163
Non-financial assets
Gulf of Mexico oil spill trust fund reimbursement asseta8,233 1,642 5,943 3,601
Other receivables 439 670 389 534
8,672 2,312 6,332 4,135
43,526 4,337 36,549 6,298
a See Note 2 for further information.
Trade and other receivables are predominantly non-interest bearing. See Note 26 for further information.
30. Cash and cash equivalents
$ million
2011 2010
Cash at bank and in hand 4,872 8,209
Term bank deposits 4,878 5,253
Cash equivalents 4,317 5,094
14,067 18,556
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. All of the other cash equivalents are categorized within level 1 of the fair value hierarchy.
Cash and cash equivalents at 31 December 2011 includes $901 million (2010 $982 million) that is restricted. This relates principally to amounts
required to cover initial margins on trading exchanges.
See Note 26 for further information.
31. Valuation and qualifying accounts
$ million
2011 2010 2009
Doubtful
debts
Fixed assets –
investments
Doubtful
debts
Fixed assets –
investments
Doubtful
debts
Fixed assets –
investments
At 1 January 428 540 430 349 391 935
Charged to costs and expenses 115 111 150 376 157 66
Charged to other accountsa(16) (3) (9) (3) 12 6
Deductions (195) (5) (143) (182) (130) (658)
At 31 December 332 643 428 540 430 349
a Principally currency transactions.
Valuation and qualifying accounts are deducted in the balance sheet from the assets to which they apply.