BP 2013 Annual Report Download - page 238

10. Contingent liabilities
The company has issued guarantees under which the maximum aggregate liabilities at 31 December 2013 were $47,042 million (2012 $45,400
million), the majority of which relate to finance debt of subsidiaries. The company has also issued uncapped indemnities and guarantees, including a
guarantee of subsidiaries’ liabilities under the PSC agreement relating to the Gulf of Mexico oil spill (see Note 2 to the consolidated financial
statements), and in relation to potential losses arising from environmental incidents involving ships leased and operated by a subsidiary.
11. Share-based payments
Effect of share-based payment transactions on the company’s result and financial position
$ million
2013 2012
Total expense recognized for equity-settled share-based payment transactions 709 669
Total expense recognized for cash-settled share-based payment transactions 10 5
Total expense recognized for share-based payment transactions 719 674
Closing balance of liability for cash-settled share-based payment transactions 17 12
Total intrinsic value for vested cash-settled share-based payments 2–
Additional information on the company’s share-based payment plans is provided in Note 13 to the consolidated financial statements.
12. Auditor’s remuneration
Note 37 to the consolidated financial statements provides details of the remuneration of the company’s auditor on a group basis.
13. Directors’ remuneration
$ million
Remuneration of directors 2013 2012
Total for all directors
Emoluments 16 12
Gains made on the exercise of share options ––
Amounts awarded under incentive schemes 23
Emoluments
These amounts comprise fees and benefits paid to the non-executive chairman and the non-executive directors and, for executive directors, salary
and benefits earned during the relevant financial year, plus cash bonuses awarded for the year. There was no compensation for loss of office in 2013
(2012 nil).
Pension contributions
During 2013, two executive directors participated in a non-contributory pension scheme established for UK employees. Two US executive directors
participated in the US BP Retirement Accumulation Plan during 2013.
Office facilities for former chairmen and deputy chairmen
It is customary for the company to make available to former chairmen and deputy chairmen, who were previously employed executives, the use of
office and basic secretarial facilities following their retirement. The cost involved in doing so is not significant.
Further information
Full details of individual directors’ remuneration are given in the Directors’ remuneration report on page 81.
The parent company financial statements of BP p.l.c. on pages 224-234 do not form part of BP’s Annual Report on Form 20-F as filed with the SEC.
234 BP Annual Report and Form 20-F 2013