BP 2005 Annual Report Download - page 43
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BP Annual Report and Accounts 2005 41
Group cash flow statement
For the year ended 31 December $ million
Note 2005 2004 2003
Operating activities
Profit before taxation from continuing operations 31,921 24,966 17,731
Adjustments to reconcile profit before taxation to net cash provided by operating activities
Exploration expenditure written off 18 305 274 297
Depreciation, depletion and amortization 11 8,771 8,529 8,076
Impairment and (gain) loss on sale of businesses and fixed assets 9,12 (1,070) (295) (94)
Earnings from jointly controlled entities and associates 7 (3,543) (2,280) (1,214)
Dividends received from jointly controlled entities and associates 2,833 2,199 548
Interest receivable (479) (284) (212)
Interest received 401 331 186
Finance costs 20 616 440 513
Interest paid (1,127) (698) (1,007)
Other finance expense 21 145 340 532
Share-based payments 278 224 208
Net operating charge for pensions and other post-retirement benefits, less contributions (435) (84) (2,913)
Net charge for provisions, less payments 600 (110) 171
(Increase) decrease in inventories (6,638) (3,182) (657)
(Increase) decrease in other current and non-current assets (16,427) (10,225) (2,981)
Increase (decrease) in other current and non-current liabilities 18,628 10,290 1,575
Income taxes paid (9,028) (6,388) (4,804)
Net cash provided by operating activities of continuing operations 25,751 24,047 15,955
Net cash provided by (used in) operating activities of Innovene operations 4 970 (669) 348
Net cash provided by operating activities 26,721 23,378 16,303
Investing activities
Capital expenditures (12,281) (12,286) (11,885)
Acquisitions, net of cash acquired (60) (1,503) (211)
Investment in jointly controlled entities (185) (1,648) (2,630)
Investment in associates (619) (942) (987)
Proceeds from disposal of property, plant and equipment 5 2,803 4,236 6,177
Proceeds from disposal of businesses 5 8,397 725 179
Proceeds from loan repayments 123 87 76
Other 93––
Net cash used in investing activities (1,729) (11,331) (9,281)
Financing activities
Net repurchase of shares (11,315) (7,208) (1,889)
Proceeds from long-term financing 2,475 2,675 4,322
Repayments of long-term financing (4,820) (2,204) (3,560)
Net increase (decrease) in short-term debt (1,457) (24) (2)
Dividends paid
BP shareholders 23 (7,359) (6,041) (5,654)
Minority interest (827) (33) (20)
Net cash used in financing activities (23,303) (12,835) (6,803)
Currency translation differences relating to cash and cash equivalents (88) 91 121
Increase (decrease) in cash and cash equivalents 1,601 (697) 340
Cash and cash equivalents at beginning of year 1,359 2,056 1,716
Cash and cash equivalents at end of year 2,960 1,359 2,056