BP 2013 Annual Report Download - page 119

Financial
statements
116 Statement of directors’ responsibilities
117 Consolidated financial statements of the BP group
Independent auditor’s reports 117
Group income statement 122
Group statement of
comprehensive income 123
Group statement of changes in
equity 123
Group balance sheet 124
Group cash flow statement 125
126 Notes on financial statements
1. Significant accounting
policies, judgements,
estimates and assumptions 126
2. Significant event – Gulf of
Mexico oil spill 139
3. Business combinations 145
4. Non-current assets held for
sale 145
5. Disposals and impairment 145
6. Disposal of TNK-BP and
investment in Rosneft 148
7. Segmental analysis 149
8. Income statement analysis 154
9. Operating leases 154
10. Exploration for and
evaluation of oil and natural
gas resources 155
11. Taxation 156
12. Dividends 158
13. Earnings per ordinary share 158
14. Property, plant and
equipment 160
15. Goodwill and impairment
review of goodwill 161
16. Intangible assets 163
17. Investments in joint
ventures 163
18. Investments in associates 164
19. Financial instruments and
financial risk factors 166
20. Other investments 170
21. Inventories 170
22. Trade and other receivables 171
23. Cash and cash equivalents 171
24. Valuation and qualifying
accounts 171
25. Trade and other payables 171
26. Derivative financial
instruments 172
27. Finance debt 176
28. Capital disclosures and
analysis of changes in net
debt 177
29. Provisions 178
30. Pensions and other post-
retirement benefits 178
31. Called-up share capital 185
32. Capital and reserves 186
33. Employee costs and
numbers 189
34. Remuneration of directors
and senior management 190
35. Contingent liabilities 191
36. Capital commitments 191
37. Auditor’s remuneration 192
38. Subsidiaries, joint
arrangements and
associates 193
39. Condensed consolidated
information on certain US
subsidiaries 194
200 Supplementary information on oil and natural gas
(unaudited)
Oil and natural gas exploration
and production activities 201
Movements in estimated net
proved reserves 207
Standardized measure of
discounted future net cash flows
and changes therein relating to
proved oil and gas reserves 219
Operational and statistical
information 222
224 Parent company financial statements of BP p.l.c.
Independent auditor’s report to
the members of BP p.l.c. 224
Company balance sheet 225
Company cash flow statement 226
Company statement of total
recognized gains and losses 226
Notes on financial statements 227
1. Accounting policies 227
2. Taxation 228
3. Fixed assets – investments 228
4. Debtors 229
5. Creditors 229
6. Pensions 230
7. Called-up share capital 232
8. Capital and reserves 233
9. Cash flow 233
10. Contingent liabilities 234
11. Share-based payments 234
12. Auditor’s remuneration 234
13. Directors’ remuneration 234
Financial statements
BP Annual Report and Form 20-F 2013 115