BP 2015 Annual Report Download - page 110

Group cash flow statement
For the year ended 31 December $ million
Note 2015 2014 2013
Operating activities
Profit (loss) before taxation (9,571) 4,950 30,221
Adjustments to reconcile profit (loss) before taxation to net cash provided by operating activities
Exploration expenditure written off 7 1,829 3,029 2,710
Depreciation, depletion and amortization 5 15,219 15,163 13,510
Impairment and (gain) loss on sale of businesses and fixed assets 4 1,243 8,070 (11,154)
Earnings from joint ventures and associates (1,811) (3,372) (3,189)
Dividends received from joint ventures and associates 1,614 1,911 1,391
Interest receivable (247) (276) (314)
Interest received 176 81 173
Finance costs 6 1,347 1,148 1,068
Interest paid (1,080) (937) (1,084)
Net finance expense relating to pensions and other post-retirement benefits 23 306 314 480
Share-based payments 321 379 297
Net operating charge for pensions and other post-retirement benefits, less contributions and
benefit payments for unfunded plans 23 (592) (963) (920)
Net charge for provisions, less payments 11,792 1,119 1,061
(Increase) decrease in inventories 3,375 10,169 (1,193)
(Increase) decrease in other current and non-current assets 6,796 3,566 (2,718)
Increase (decrease) in other current and non-current liabilities (9,328) (6,810) (2,932)
Income taxes paid (2,256) (4,787) (6,307)
Net cash provided by operating activities 19,133 32,754 21,100
Investing activities
Capital expenditure (18,648) (22,546) (24,520)
Acquisitions, net of cash acquired 23 (131) (67)
Investment in joint ventures (265) (179) (451)
Investment in associates (1,312) (336) (4,994)
Proceeds from disposals of fixed assets 4 1,066 1,820 18,115
Proceeds from disposals of businesses, net of cash disposed 4 1,726 1,671 3,884
Proceeds from loan repayments 110 127 178
Net cash used in investing activities (17,300) (19,574) (7,855)
Financing activities
Net issue (repurchase) of shares –(4,589) (5,358)
Proceeds from long-term financing 8,173 12,394 8,814
Repayments of long-term financing (6,426) (6,282) (5,959)
Net increase (decrease) in short-term debt 473 (693) (2,019)
Net increase (decrease) in non-controlling interests (5) 932
Dividends paid
BP shareholders 9 (6,659) (5,850) (5,441)
Non-controlling interests (91) (255) (469)
Net cash used in financing activities (4,535) (5,266) (10,400)
Currency translation differences relating to cash and cash equivalents (672) (671) 40
Increase (decrease) in cash and cash equivalents (3,374) 7,243 2,885
Cash and cash equivalents at beginning of year 29,763 22,520 19,635
Cash and cash equivalents at end of year 26,389 29,763 22,520
106 BP Annual Report and Form 20-F 2015
Financial statements