BP 2005 Annual Report Download - page 116

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114 Making energy more
Notes on financial statements continued
50 First-time adoption of International Financial Reporting Standards continued
GROUP CASH FLOW RECONCILIATION FROM UK GAAP TO IFRS
For the year ended 31 December 2003
UK GAAP
in IFRS
format
Operating activities
Profit before taxation 16,763
Adjustments to reconcile profit before taxation to net cash provided by operating activities
Exploration expenditure written off 297
Depreciation, depletion and amortization 10,202
Impairment and (gain) loss on sale of businesses and fixed assets (93)
Earnings from jointly controlled entities and associates (1,438)
Dividends received from jointly controlled entities and associates 548
Interest receivable (201)
Interest received 175
Finance costs 644
Interest paid (1,006)
Other finance expense 547
Share-based payments 113
Net operating charge for pensions and other post-retirement benefits, less contributions (2,913)
Net charge for provisions, less payments 66
(Increase) decrease in inventories (841)
(Increase) decrease in other current and non-current assets (3,042)
Increase (decrease) in other current and non-current liabilities 1,734
Income taxes paid (4,804)
Net cash provided by operating activities 16,751
Investing activities
Capital expenditure (12,377)
Acquisitions, net of cash acquired (211)
Investment in jointly controlled entities (2,529)
Investment in associates (987)
Proceeds from disposal of property, plant and equipment 6,177
Proceeds from disposal of businesses 179
Proceeds from loan repayments 76
Other –
Net cash used in investing activities (9,672)
Financing activities
Net repurchase of shares (1,889)
Proceeds from long-term financing 4,322
Repayments of long-term financing (3,560)
Net (decrease) increase in short-term debt (2)
Dividends paid
BP shareholders (5,654)
Minority interest (20)
Net cash used in financing activities (6,803)
Currency translation differences relating to cash and cash equivalents 121
Increase (decrease) in cash and cash equivalents 397
Cash and cash equivalents at beginning of year 1,735
Cash and cash equivalents at end of year 2,132