BP 2008 Annual Report Download - page 203

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BP Annual Report and Accounts 2008
Parent company financial statements of BP p.l.c.
8. Capital and reserves continued
$ million
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 2007 5,385 9,074 839 26,504 5 (154) (22,182) 789 71,858 92,118
Currency translation
differences – – – – – – – – 89 89
Actuarial gain on pensions
(net of tax) – – – – – – – – 503 503
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)
At 31 December 2007 5,237 9,581 1,005 26,509 – (60) (22,112) 982 72,282 93,424
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 $24,107 million (2007 $27,428 million and 2006 $26,668 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 2008 do not reflect the
dividend announced on 3 February 2009 and payable in March 2009; this will be treated as an appropriation of profit in the year ended 31 December 2009.
9. Cash flow
$ million
2008 2007 2006
Reconciliation of net cash flow to movement of funds
Increase (decrease) in cash (233) 265 (24)
Movement of funds (233) 265 (24)
Net cash at 1 January 244 (21) 3
Net cash at 31 December 11 244 (21)
Notes on cash flow statement
(a) Reconciliation of operating profit to net cash (outflow) inflow from operating activities 2008 2007 2006
Operating profit 17,211 15,699 24,768
Net operating charge for pensions and other post-retirement benefits, less contributions 461 7 (83)
Dividends, interest and other income (17,239) (16,624) (25,036)
Share-based payments 446 338 325
(Increase) decrease in debtors (5,271) 2,238 (2,140)
Increase (decrease) in creditors (7) (2,491) (1,537)
Net cash outflow from operating activities (4,399) (833) (3,703)
$ million
At At
1 January Cash 31 December
(b) Analysis of movements of funds 2008 flow 2008
Cash at bank 244 (233) 11
10. Contingent liabilities
The parent company has issued guarantees under which amounts outstanding at 31 December 2008 were $30,063 million (2007 $27,665 million
and 2006 $20,458 million), including $30,008 million (2007 $27,610 million and 2006 $20,402 million) in respect of borrowings by its subsidiary
undertakings and $55 million (2007 $55 million and 2006 $56 million) in respect of liabilities of other third parties.
202