Condensed consolidating information on certain US subsidiaries (Tables)

6 Months Ended

Jun. 30, 2018

Disclosure Of Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

Disclosure of Condensed Income Statement

Income statement continued

First half 2017	Issuer		Guarantor
$ million	BP Exploration (Alaska) Inc.		BP p.l.c.		Other subsidiaries	Eliminations and reclassifications		BP group
Sales and other operating revenues	1,614		—		112,355	(1,595	)	112,374
Earnings from joint ventures - after interest and tax	—		—		365	—		365
Earnings from associates - after interest and tax	—		—		522	—		522
Equity-accounted income of subsidiaries - after interest and tax	—		2,055		—	(2,055	)	—
Interest and other income	1		134		613	(499	)	249
Gains on sale of businesses and fixed assets	—		—		242	—		242
Total revenues and other income	1,615		2,189		114,097	(4,149	)	113,752
Purchases	516		—		84,609	(1,595	)	83,530
Production and manufacturing expenses	580		—		10,436	—		11,016
Production and similar taxes	46		—		769	—		815
Depreciation, depletion and amortization	415		—		7,220	—		7,635
Impairment and losses on sale of businesses and fixed assets	—		—		504	—		504
Exploration expense	—		—		1,262	—		1,262
Distribution and administration expenses	11		254		4,678	(50	)	4,893
Profit (loss) before interest and taxation	47		1,935		4,619	(2,504	)	4,097
Finance costs	3		371		1,022	(449	)	947
Net finance (income) expense relating to pensions and other post-retirement benefits	—		(7	)	114	—		107
Profit (loss) before taxation	44		1,571		3,483	(2,055	)	3,043
Taxation	(13	)	(22	)	1,430	—		1,395
Profit (loss) for the year	57		1,593		2,053	(2,055	)	1,648
Attributable to
BP shareholders	57		1,593		1,998	(2,055	)	1,593
Non-controlling interests	—		—		55	—		55
	57		1,593		2,053	(2,055	)	1,648

Income statement

First half 2018	Issuer	Guarantor
$ million	BP Exploration (Alaska) Inc.	BP p.l.c.		Other subsidiaries	Eliminations and reclassifications		BP group
Sales and other operating revenues	2,199	—		143,552	(2,140	)	143,611
Earnings from joint ventures - after interest and tax	—	—		513	—		513
Earnings from associates - after interest and tax	—	—		1,441	—		1,441
Equity-accounted income of subsidiaries - after interest and tax	—	6,028		—	(6,028	)	—
Interest and other income	18	112		893	(699	)	324
Gains on sale of businesses and fixed assets	—	—		161	—		161
Total revenues and other income	2,217	6,140		146,560	(8,867	)	146,050
Purchases	705	—		111,371	(2,140	)	109,936
Production and manufacturing expenses	481	—		10,472	—		10,953
Production and similar taxes	144	—		755	—		899
Depreciation, depletion and amortization	262	—		7,480	—		7,742
Impairment and losses on sale of businesses and fixed assets	—	—		68	—		68
Exploration expense	—	—		678	—		678
Distribution and administration expenses	10	344		5,402	(33	)	5,723
Profit (loss) before interest and taxation	615	5,796		10,334	(6,694	)	10,051
Finance costs	3	577		1,174	(666	)	1,088
Net finance (income) expense relating to pensions and other post-retirement benefits	—	(49	)	111	—		62
Profit (loss) before taxation	612	5,268		9,049	(6,028	)	8,901
Taxation	83	—		3,414	—		3,497
Profit (loss) for the year	529	5,268		5,635	(6,028	)	5,404
Attributable to
BP shareholders	529	5,268		5,499	(6,028	)	5,268
Non-controlling interests	—	—		136	—		136
	529	5,268		5,635	(6,028	)	5,404

Disclosure of Condensed Statement of Comprehensive Income

Statement of comprehensive income

First half 2018	Issuer	Guarantor
$ million	BP Exploration (Alaska) Inc.	BP p.l.c.		Other subsidiaries		Eliminations and reclassifications		BP group
Profit (loss) for the year	529	5,268		5,635		(6,028	)	5,404
Other comprehensive income	—	1,686		(2,137	)	—		(451	)
Equity-accounted other comprehensive income of subsidiaries	—	(2,106	)	—		2,106		—
Total comprehensive income	529	4,848		3,498		(3,922	)	4,953
Attributable to
BP shareholders	529	4,848		3,393		(3,922	)	4,848
Non-controlling interests	—	—		105		—		105
	529	4,848		3,498		(3,922	)	4,953

Statement of comprehensive income continued

First half 2017	Issuer	Guarantor
$ million	BP Exploration (Alaska) Inc.	BP p.l.c.	Other subsidiaries	Eliminations and reclassifications		BP group
Profit (loss) for the year	57	1,593	2,053	(2,055	)	1,648
Other comprehensive income	—	578	1,697	—		2,275
Equity-accounted other comprehensive income of subsidiaries	—	1,664	—	(1,664	)	—
Total comprehensive income	57	3,835	3,750	(3,719	)	3,923
Attributable to
BP shareholders	57	3,835	3,662	(3,719	)	3,835
Non-controlling interests	—	—	88	—		88
	57	3,835	3,750	(3,719	)	3,923

Disclosure of Condensed Balance Sheet

Balance sheet

At 30 June 2018	Issuer	Guarantor
$ million	BP Exploration (Alaska) Inc.	BP p.l.c.	Other subsidiaries	Eliminations and reclassifications		BP group
Non-current assets
Property, plant and equipment	4,577	—	119,813	—		124,390
Goodwill	—	—	11,319	—		11,319
Intangible assets	588	—	17,220	—		17,808
Investments in joint ventures	—	—	8,293	—		8,293
Investments in associates	—	2	17,833	—		17,835
Other investments	—	—	1,284	—		1,284
Subsidiaries - equity-accounted basis	—	165,566	—	(165,566	)	—
Fixed assets	5,165	165,568	175,762	(165,566	)	180,929
Loans	—	—	34,393	(33,888	)	505
Trade and other receivables	—	2,433	1,472	(2,433	)	1,472
Derivative financial instruments	—	—	4,633	—		4,633
Prepayments	—	—	1,134	—		1,134
Deferred tax assets	—	—	3,908	—		3,908
Defined benefit pension plan surpluses	—	5,708	646	—		6,354
	5,165	173,709	221,948	(201,887	)	198,935
Current assets
Loans	—	—	298	—		298
Inventories	354	—	20,650	—		21,004
Trade and other receivables	2,600	294	37,130	(14,894	)	25,130
Derivative financial instruments	—	—	3,614	—		3,614
Prepayments	49	—	1,228	—		1,277
Current tax receivable	—	—	783	—		783
Other investments	—	—	106	—		106
Cash and cash equivalents	—	15	22,170	—		22,185
	3,003	309	85,979	(14,894	)	74,397
Assets classified as held for sale (Note 3)	2,138	—	156	—		2,294
	5,141	309	86,135	(14,894	)	76,691
Total assets	10,306	174,018	308,083	(216,781	)	275,626
Current liabilities
Trade and other payables	544	12,117	48,868	(14,894	)	46,635
Derivative financial instruments	—	—	3,643	—		3,643
Accruals	77	59	3,605	—		3,741
Finance debt	—	—	10,625	—		10,625
Current tax payable	77	48	2,158	—		2,283
Provisions	1	—	2,312	—		2,313
	699	12,224	71,211	(14,894	)	69,240
Liabilities directly associated with assets classified as held for sale (Note 3)	291	—	—	—		291
	990	12,224	71,211	(14,894	)	69,531
Non-current liabilities
Other payables	1	33,888	16,128	(36,321	)	13,696
Derivative financial instruments	—	—	5,126	—		5,126
Accruals	—	—	599	—		599
Finance debt	—	—	49,733	—		49,733
Deferred tax liabilities	861	1,337	6,630	—		8,828
Provisions	733	—	17,050	—		17,783
Defined benefit pension plan and other post-retirement benefit plan deficits	—	198	8,362	—		8,560
	1,595	35,423	103,628	(36,321	)	104,325
Total liabilities	2,585	47,647	174,839	(51,215	)	173,856
Net assets	7,721	126,371	133,244	(165,566	)	101,770
Equity
BP shareholders’ equity	7,721	126,371	131,295	(165,566	)	99,821
Non-controlling interests	—	—	1,949	—		1,949
	7,721	126,371	133,244	(165,566	)	101,770

Balance sheet continued

At 31 December 2017	Issuer	Guarantor
$ million	BP Exploration (Alaska) Inc.	BP p.l.c.	Other subsidiaries	Eliminations and reclassifications		BP group
Non-current assets
Property, plant and equipment	6,973	—	122,498	—		129,471
Goodwill	—	—	11,551	—		11,551
Intangible assets	585	—	17,770	—		18,355
Investments in joint ventures	—	—	7,994	—		7,994
Investments in associates	—	2	16,989	—		16,991
Other investments	—	—	1,245	—		1,245
Subsidiaries - equity-accounted basis	—	161,840	—	(161,840	)	—
Fixed assets	7,558	161,842	178,047	(161,840	)	185,607
Loans	1	—	34,701	(34,056	)	646
Trade and other receivables	—	2,623	1,434	(2,623	)	1,434
Derivative financial instruments	—	—	4,110	—		4,110
Prepayments	—	—	1,112	—		1,112
Deferred tax assets	—	—	4,469	—		4,469
Defined benefit pension plan surpluses	—	3,838	331	—		4,169
	7,559	168,303	224,204	(198,519	)	201,547
Current assets
Loans	—	—	190	—		190
Inventories	274	—	18,737	—		19,011
Trade and other receivables	2,206	293	32,691	(10,341	)	24,849
Derivative financial instruments	—	—	3,032	—		3,032
Prepayments	2	—	1,412	—		1,414
Current tax receivable	—	—	761	—		761
Other investments	—	—	125	—		125
Cash and cash equivalents	—	10	25,576	—		25,586
	2,482	303	82,524	(10,341	)	74,968
Total assets	10,041	168,606	306,728	(208,860	)	276,515
Current liabilities
Trade and other payables	673	7,843	46,034	(10,341	)	44,209
Derivative financial instruments	—	—	2,808	—		2,808
Accruals	115	60	4,785	—		4,960
Finance debt	—	—	7,739	—		7,739
Current tax payable	—	—	1,686	—		1,686
Provisions	1	—	3,323	—		3,324
	789	7,903	66,375	(10,341	)	64,726
Non-current liabilities
Other payables	—	34,104	16,464	(36,679	)	13,889
Derivative financial instruments	—	—	3,761	—		3,761
Accruals	—	—	505	—		505
Finance debt	—	—	55,491	—		55,491
Deferred tax liabilities	838	1,337	5,807	—		7,982
Provisions	1,222	—	19,398	—		20,620
Defined benefit pension plan and other post-retirement benefit plan deficits	—	221	8,916	—		9,137
	2,060	35,662	110,342	(36,679	)	111,385
Total liabilities	2,849	43,565	176,717	(47,020	)	176,111
Net assets	7,192	125,041	130,011	(161,840	)	100,404
Equity
BP shareholders’ equity	7,192	125,041	128,098	(161,840	)	98,491
Non-controlling interests	—	—	1,913	—		1,913
	7,192	125,041	130,011	(161,840	)	100,404

Disclosure of Condensed Cash Flow Statement

Cash flow statement

First half 2018	Issuer		Guarantor
$ million	BP Exploration (Alaska) Inc.		BP p.l.c.		Other subsidiaries		BP group
Net cash provided by operating activities	171		3,543		6,238		9,952
Net cash provided by (used in) investing activities	(171	)	—		(7,267	)	(7,438	)
Net cash provided by (used in) financing activities	—		(3,538	)	(2,197	)	(5,735	)
Currency translation differences relating to cash and cash equivalents	—		—		(169	)	(169	)
Increase (decrease) in cash and cash equivalents	—		5		(3,395	)	(3,390	)
Cash and cash equivalents at beginning of year(a)	—		10		25,565		25,575
Cash and cash equivalents at end of year	—		15		22,170		22,185
First half 2017	Issuer		Guarantor
$ million	BP Exploration (Alaska) Inc.		BP p.l.c.		Other subsidiaries		BP group
Net cash provided by operating activities	177		2,799		4,028		7,004
Net cash provided by (used in) investing activities	(177	)	—		(7,633	)	(7,810	)
Net cash provided by (used in) financing activities	—		(2,849	)	3,072		223
Currency translation differences relating to cash and cash equivalents	—		—		369		369
Increase (decrease) in cash and cash equivalents	—		(50	)	(164	)	(214	)
Cash and cash equivalents at beginning of year	—		50		23,434		23,484
Cash and cash equivalents at end of year	—		—		23,270		23,270

(a) See Note 1 for further information.