BP 2014 Annual Report Download - page 93

Financial
statements
90 Statement of directors’ responsibilities
91 Consolidated financial statements of the BP group
Independent auditor’s reports 91
Group income statement 96
Group statement of
comprehensive income 97
Group statement of changes in
equity 97
Group balance sheet 98
Group cash flow statement 99
100 Notes on financial statements
1. Significant accounting
policies 100
2. Significant event – Gulf of
Mexico oil spill 111
3. Disposals and impairment 117
4. Segmental analysis 119
5. Income statement analysis 123
6. Exploration expenditure 124
7. Taxation 124
8. Dividends 126
9. Earnings per ordinary
share 126
10. Property, plant and
equipment 128
11. Capital commitments 128
12. Goodwill 129
13. Intangible assets 130
14. Investments in joint
ventures 131
15. Investments in associates 131
16. Other investments 134
17. Inventories 134
18. Trade and other
receivables 134
19. Valuation and qualifying
accounts 135
20. Trade and other payables 135
21. Provisions 135
22. Pensions and other post-
retirement benefits 135
23. Cash and cash equivalents 142
24. Finance debt 142
25. Capital disclosures and
analysis of changes in net
debt 143
26. Operating leases 143
27. Financial instruments and
financial risk factors 144
28. Derivative financial
instruments 147
29. Called-up share capital 152
30. Capital and reserves 154
31. Contingent liabilities 157
32. Remuneration of senior
management and non-
executive directors 158
33. Employee costs and
numbers 159
34. Auditor’s remuneration 159
35. Subsidiaries, joint
arrangements and
associates 160
36. Condensed consolidating
information on certain US
subsidiaries 161
167 Supplementary information on oil and natural gas
(unaudited)
Oil and natural gas exploration
and production activities 168
Movements in estimated net
proved reserves 174
Standardized measure of
discounted future net cash
flows and changes therein
relating to proved oil and gas
reserves 192
Operational and statistical
information 195
197 Parent company financial statements of BP p.l.c.
Company balance sheet 197
Company cash flow statement 198
Company statement of total
recognized gains and losses 198
Notes on financial statements 199
1. Accounting policies 199
2. Taxation 200
3. Fixed assets – investments 200
4. Debtors 201
5. Creditors 201
6. Pensions 201
7. Called-up share capital 204
8. Capital and reserves 204
9. Cash flow 205
10. Contingent liabilities 205
11. Share-based payments 205
12. Auditor’s remuneration 205
13. Directors’ remuneration 205
Financial statements
BP Annual Report and Form 20-F 2014 89