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Group cash flow statement - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating activities      
Profit (loss) before taxation $ (24,888) $ 8,154 $ 16,723
Adjustments to reconcile profit before taxation to net cash provided by operating activities      
Exploration expenditure written off 9,920 631 1,085
Depreciation, depletion and amortization 14,889 17,780 15,457
Impairment and (gain) loss on sale of businesses and fixed assets 11,507 7,882 404
Earnings from joint ventures and associates 403 (3,257) (3,753)
Dividends received from joint ventures and associates 1,442 1,962 1,535
Interest receivable (258) (441) (468)
Interest received 74 416 348
Finance costs 3,115 3,489 2,528
Interest paid (2,728) (2,870) (1,928)
Net finance expense relating to pensions and other post-retirement benefits 33 63 127
Share-based payments 723 730 690
Net operating charge for pensions and other post-retirement benefits, less contributions and benefit payments for unfunded plans (282) (238) (386)
Net charge for provisions, less payments 735 (176) 986
(Increase) decrease in inventories 3,963 (3,406) 672
(Increase) decrease in other current and non-current assets 4,230 (2,335) (2,858)
Increase (decrease) in other current and non-current liabilities (8,278) 2,823 (2,577)
Income taxes paid (2,438) (5,437) (5,712)
Cash flows from (used in) operating activities 12,162 25,770 22,873
Investing activities      
Expenditure on property, plant and equipment, intangible and other assets (12,306) (15,418) (16,707)
Acquisitions, net of cash acquired (44) (3,562) (6,986)
Investment in joint ventures (567) (137) (382)
Investment in associates (1,138) (304) (1,013)
Total cash capital expenditure (14,055) (19,421) (25,088)
Proceeds from disposals of fixed assets 491 500 940
Proceeds from disposals of businesses, net of cash disposed 4,989 1,701 1,911
Proceeds from loan repayments 717 246 666
Net cash used in investing activities (7,858) (16,974) (21,571)
Financing activities      
Repurchase of shares (776) (1,511) (355)
Payments of lease liabilities, classified as financing activities (2,442) (2,372) (35)
Proceeds from long-term financing 14,736 8,597 9,038
Repayments of long-term financing (12,179) (7,118) (7,175)
Net increase (decrease) in short-term debt (1,234) 180 1,317
Proceeds from issuing other equity instruments 11,861 0 0
Payments of other equity instruments (89) 0 0
Payments from changes in ownership interests in subsidiaries that do not result in loss of control (8) 0 0
Receipts relating to transactions involving non-controlling interests (other) 665 566 0
Dividends paid      
bp shareholders (6,340) (6,946) (6,699)
Non-controlling interests (238) (213) (170)
Net cash provided by (used in) financing activities 3,956 (8,817) (4,079)
Currency translation differences relating to cash and cash equivalents 379 25 (330)
Increase (decrease) in cash and cash equivalents 8,639 4 (3,107)
Cash and cash equivalents at beginning of year 22,472 22,468  
Cash and cash equivalents at end of year $ 31,111 $ 22,472 $ 22,468