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Group cash flow statement - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating activities      
Profit before taxation $ 8,154 $ 16,723 $ 7,180
Adjustments to reconcile profit before taxation to net cash provided by operating activities      
Exploration expenditure written off 631 1,085 1,603
Depreciation, depletion and amortization 17,780 15,457 15,584
Impairment and (gain) loss on sale of businesses and fixed assets 7,882 404 6
Earnings from joint ventures and associates (3,257) (3,753) (2,507)
Dividends received from joint ventures and associates 1,962 1,535 1,253
Interest receivable (441) (468) (304)
Interest received 416 348 375
Finance costs 3,489 2,528 2,074
Interest paid (2,870) (1,928) (1,572)
Net finance expense relating to pensions and other post-retirement benefits 63 127 220
Share-based payments 730 690 661
Net operating charge for pensions and other post-retirement benefits, less contributions and benefit payments for unfunded plans (238) (386) (394)
Net charge for provisions, less payments (176) 986 2,106
(Increase) decrease in inventories (3,406) 672 (848)
(Increase) decrease in other current and non-current assets (2,335) (2,858) (4,848)
Increase (decrease) in other current and non-current liabilities 2,823 (2,577) 2,344
Income taxes paid (5,437) (5,712) (4,002)
Net cash provided by (used in) operating activities 25,770 22,873 18,931
Investing activities      
Expenditure on property, plant and equipment, intangible and other assets (15,418) (16,707) (16,562)
Acquisitions, net of cash acquired (3,562) (6,986) (327)
Investment in joint ventures (137) (382) (50)
Investment in associates (304) (1,013) (901)
Total cash capital expenditure (19,421) (25,088) (17,840)
Proceeds from disposals of fixed assets 500 940 2,936
Proceeds from disposals of businesses, net of cash disposed 1,701 1,911 478
Proceeds from loan repayments 246 666 349
Net cash used in investing activities (16,974) (21,571) (14,077)
Financing activitiesa      
Repurchase of shares (1,511) (355) [1] (343) [1]
Payments of lease liabilities, classified as financing activities (2,372) (35) [1] (45) [1]
Proceeds from long-term financing 8,597 9,038 [1] 8,712 [1]
Repayments of long-term financing (7,118) (7,175) [1] (6,231) [1]
Net increase (decrease) in short-term debt 180 1,317 [1] (158) [1]
Net increase (decrease) in non-controlling interests 566 0 [1] 1,063 [1]
Dividends paid      
BP shareholders (6,946) (6,699) [1] (6,153) [1]
Non-controlling interests (213) (170) [1] (141) [1]
Net cash provided by (used in) financing activities (8,817) (4,079) [1] (3,296) [1]
Currency translation differences relating to cash and cash equivalents 25 (330) 544
Increase (decrease) in cash and cash equivalents 4 (3,107) 2,102
Cash and cash equivalents at beginning of year 22,468 [2] 25,586 23,484
Cash and cash equivalents at end of year $ 22,472 $ 22,468 [2] $ 25,586
[1] a The presentation of financing cash flows for the comparative periods have been amended to align with the current period. See Note 1 for further information.
[2] a Finance debt on the comparative balance sheet has been re-presented to align with the current period. See Note 1 for further information.