BP 2015 Annual Report Download - page 99

Financial
statements
96 Consolidated financial statements of the BP group
Independent auditor’s reports 96
Group income statement 103
Group statement of
comprehensive income 104
Group statement of changes in
equity 104
Group balance sheet 105
Group cash flow statement 106
107 Notes on financial statements
1. Significant accounting
policies 107
2. Significant event – Gulf of
Mexico oil spill 117
3. Non–current assets held for
sale 122
4. Disposals and impairment 122
5. Segmental analysis 124
6. Income statement analysis 128
7. Exploration expenditure 129
8. Taxation 129
9. Dividends 131
10. Earnings per ordinary
share 131
11. Property, plant and
equipment 133
12. Capital commitments 133
13. Goodwill 134
14. Intangible assets 135
15. Investments in joint
ventures 136
16. Investments in associates 136
17. Other investments 139
18. Inventories 139
19. Trade and other
receivables 139
20. Valuation and qualifying
accounts 139
21. Trade and other payables 140
22. Provisions 140
23. Pensions and other post-
retirement benefits 140
24. Cash and cash equivalents 146
25. Finance debt 146
26. Capital disclosures and
analysis of changes in net
debt 147
27. Operating leases 147
28. Financial instruments and
financial risk factors 148
29. Derivative financial
instruments 151
30. Called-up share capital 155
31. Capital and reserves 156
32. Contingent liabilities 159
33. Remuneration of senior
management and non-
executive directors 160
34. Employee costs and
numbers 161
35. Auditor’s remuneration 161
36. Subsidiaries, joint
arrangements and
associates 162
37. Condensed consolidating
information on certain US
subsidiaries 163
169 Supplementary information on oil and natural gas
(unaudited)
Oil and natural gas exploration
and production activities 170
Movements in estimated net
proved reserves 176
Standardized measure of
discounted future net cash
flows and changes therein
relating to proved oil and gas
reserves 191
Operational and statistical
information 194
196 Parent company financial statements of BP p.l.c.
Company balance sheet 196
Company cash flow statement 197
Company statement of
changes in equity 197
Notes on financial statements 198
1. Significant accounting
policies 198
2. Taxation 200
3. Investments 200
4. Debtors 201
5. Creditors 201
6. Pensions 201
7. Called-up share capital 205
8. Capital and reserves 206
9. Contingent liabilities 206
10. Capital management 206
11. Share-based payments 206
12. Auditor’s remuneration 206
13. Directors’ remuneration 206
14. Explanation of transition
to FRS 101
207
15. Related undertakings of
the group
208
Financial statements
BP Annual Report and Form 20-F 2015 95