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Group cash flow statement - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating activities      
Profit (loss) before taxation $ 23,749 $ 15,405 $ 15,227
Adjustments to reconcile profit before taxation to net cash provided by operating activities      
Exploration expenditure written off 746 385 167
Depreciation, depletion and amortization 15,928 14,318 14,805
Impairment and (gain) loss on sale of businesses and fixed assets 5,488 26,656 (2,997)
Earnings from joint ventures and associates (898) (2,530) (3,999)
Dividends received from joint ventures and associates 2,092 1,700 1,842
Interest receivable (1,265) (444) (235)
Interest received 1,119 414 320
Finance costs 3,840 2,703 2,857
Interest paid (2,950) (2,208) (2,474)
Net finance expense relating to pensions and other post-retirement benefits (241) (69) (2)
Share-based payments 616 795 627
Net operating charge for pensions and other post-retirement benefits, less contributions and benefit payments for unfunded plans (193) (257) (655)
Net charge for provisions, less payments (2,481) 440 2,934
(Increase) decrease in inventories 5,634 (5,492) (7,458)
(Increase) decrease in other current and non-current assets 4,620 (18,584) (13,263)
Increase (decrease) in other current and non-current liabilities (13,592) 17,806 20,095
Income taxes paid (10,173) (10,106) (4,179)
Cash flows from (used in) operating activities 32,039 40,932 23,612
Investing activities      
Expenditure on property, plant and equipment, intangible and other assets (14,285) (12,069) (10,887)
Acquisitions, net of cash acquired (799) (3,530) (186)
Investment in joint ventures (1,039) (600) (1,440)
Investment in associates (130) (131) (335)
Total cash capital expenditure (16,253) (16,330) (12,848)
Proceeds from disposals of fixed assets 133 709 1,145
Proceeds from disposals of businesses, net of cash disposed 1,193 1,841 5,812
Proceeds from loan repayments 55 67 197
Net cash used in investing activities (14,872) (13,713) (5,694)
Financing activities      
Repurchase of shares (7,918) (9,996) (3,151)
Lease liability payments (2,560) (1,961) (2,082)
Proceeds from long-term financing 7,568 2,013 6,987
Repayments of long-term financing (3,902) (11,697) (16,804)
Net increase (decrease) in short-term debt (861) (1,392) 1,077
Proceeds from issuing other equity instruments 175 370 924
Payments of other equity instruments (1,008) (708) (538)
Payments from changes in ownership interests in subsidiaries that do not result in loss of control (187) (9) (560)
Receipts relating to transactions involving non-controlling interests (other) 546 11 683
Dividends paid      
bp shareholders (4,809) (4,358) (4,304)
Non-controlling interests (403) (294) (311)
Net cash provided by (used in) financing activities (13,359) (28,021) (18,079)
Currency translation differences relating to cash and cash equivalents 27 (684) (269)
Increase (decrease) in cash and cash equivalents 3,835 (1,486) (430)
Cash and cash equivalents at beginning of year 29,195 30,681 31,111
Cash and cash equivalents at end of year $ 33,030 $ 29,195 $ 30,681