BP 2010 Annual Report Download - page 262

ParentcompanynancialstatementsofBPp.l.c.
6.Pensionscontinued
$million
 2010 2009
Representedby
 Assetrecognized       2,069 1,234
 Liabilityrecognized       (199) (163)
 1,870 1,071
Thesurplus(decit)maybeanalysedbetweenfundedandunfundedplansasfollows
 Funded       2,064 1,231
 Unfunded       (194) (160)
 1,870 1,071
Thedenedbenetobligationmaybeanalysedbetweenfundedandunfundedplansasfollows
 Fundeda (20,548) (19,722)
 Unfunded        (194) (160)

  

  (20,742) (19,882)
aR eects$20,448millionofliabilitiesoftheBPPensionFund(2009$19,661million),$67millionofliabilitiesoftheBPGlobalPensionTrust(2009$61million)and$33millionofliabilitiesrepresentingthe
company’sshareoftheMerchantNavyOfcersPensionFund(2009nil).
 $million
 2010 2009
Reconciliationofplansurplustobalancesheet
Surplusat31December       1,870 1,071
Deferredtax       (480) (279)
 1,390 792
Representedby
 Assetrecognizedonbalancesheet       1,537 912
 Liabilityrecognizedonbalancesheet       (147) (120)

 
 1,390 792
TheaggregatelevelofemployercontributionsintotheBPPensionFundin2011isexpectedtobe$404million.
$million
   2010 2009 2008 2007 2006
Historyofsurplusandofexperiencegainsandlosses
Benetobligationat31December    20,742 19,882 15,414 22,146 21,507
Fairvalueofplanassetsat31December    22,612 20,953 16,930 29,411 27,169
Surplus     1,870 1,071 1,516 7,265 5,662
Experiencegains(losses)onplanliabilities
 Amount($million)    12 (146) (65) (155) (211)
 Percentageofbenetobligation    0% (1)% 0% (1)% (1)%
Actualreturnlessexpectedreturnonpensionplanassets
 Amount($million)    1,479 1,634 (6,533) 404 1,252
 Percentageofplanassets    7% 8% (39)% 1% 5%
Actuarial(loss)gainrecognizedinstatementoftotalrecognizedgainsandlosses
 Amount($million)    457 (585) (5,122) 698 1,120
 Percentageofbenetobligation    2% (3)% (33)% 3% 6%
Cumulativeamountrecognizedinstatementoftotalrecognizedgainsandlosses  (1,235) (1,692) (1,107) 4,015 3,317
 
TheparentcompanynancialstatementsofBPp.l.c.onpagesPC1–PC16donotformpartofBP’sAnnualReportonForm20-FasledwiththeSEC.
PC10BPAnnualReportandForm20-F2010