BP 2007 Annual Report Download - page 198

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7 Called up share capital continued
Repurchase of ordinary share capital
The company purchased 663,149,528 ordinary shares (2006 1,334,362,750 and 2005 1,059,706,481 ordinary shares) for a total consideration of $7,497
million (2006 $15,481 million and 2005 $11,597 million), of which all were for cancellation. At 31 December 2007, 1,940,638,808 shares of nominal
value $485 million were held in treasury (2006 1,946,804,533 shares of nominal value of $487 million). Transaction costs of share repurchases
amounted to $40 million (2006 $83 million and 2005 $63 million).
8 Capital and reserves
$ million
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Share Capital Share-based Profit
Share premium redemption Merger Other Own Treasury payment and loss
capital account reserve reserve reserves shares shares reserve account Total
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At 1 January 2007 5,385 9,074 839 26,504 5 (154) (22,182) 789 71,858 92,118
Currency translation differences ––––––––89
Actuarial gain on pensions (net of tax) ––––––––503
Repurchase of ordinary share capital (166) – 166 – – – – – (7,997) (7,997)
Share-based payments 18 507 – 5 (5) 94 70 193 (78) 804
Profit for the year – – – – – – – – 16,013 16,013
Dividends – – – – – – – – (8,106) (8,106)
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At 31 December 2007 5,237 9,581 1,005 26,509 – (60) (22,112) 982 72,282 93,424
$ million
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Share Capital Share-based Profit
Share premium redemption Merger Other Own Treasury payment and loss
capital account reserve reserve reserves shares shares reserve account Total
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
At 1 January 2006 5,185 7,371 749 26,493 16 (140) (10,598) 599 58,661 88,336
Currency translation differences – – – – – (19) – – 558 539
Actuarial gain on pensions (net of tax) ––––––––785
Issue of ordinary share capital for TNK-BP 28 1,222 – – – – – – – 1,250
Repurchase of ordinary share capital (90) – 90 – – – (11,472) – (4,009) (15,481)
Share-based payments 16 481 – 11 (11) 5 134 190 (79) 747
Profit for the year – – – – – – – – 23,628 23,628
Dividends – – – – – – – – (7,686) (7,686)
Othera246 – – – – – (246) – – –
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At 31 December 2006 5,385 9,074 839 26,504 5 (154) (22,182) 789 71,858 92,118
aReclassification in respect of share repurchases in 2005.
As a consolidated income statement is presented for the group, a separate income statement for the parent company is not required to be published.
The profit and loss account reserve includes $27,428 million (2006 $26,668 million and 2005 $27,391 million), the distribution of which is limited by
statutory or other restrictions.
The company does not account for dividends until they have been paid. The accounts for the year ended 31 December 2007 do not reflect
the dividend announced on 5 February 2008 and payable in March 2008; this will be treated as an appropriation of profit in the year ended
31 December 2008.
89
503
785