Annual Report and Accounts 2009 - BG Group

78
Financial Statements
Notes to the accounts continued
2 SEGMENTAL ANALYSIS AND RESULTS PRESENTATION continued
PROFIT FOR THE YEAR
Analysed by operating segment
for the year ended 31 December 2009
£m
www.bg-group.com
Business Performance
2008
£m
Disposals, re-measurements
and impairments Total
Group revenue 10 213 12 566 – – 10 213 12 566
Other operating income (a)(b) 150 36 105 157 255 193
Group revenue and other operating income
Operating profit/(loss) before share of results from
joint ventures and associates
10 363 12 602 105 157 10 468 12 759
(c)
Exploration and Production 2 087 3 512 (67) 151 2 020 3 663
Liquefied Natural Gas 1 340 1 445 43 – 1 383 1 445
Transmission and Distribution 399 132 (1) (2) 398 130
Power Generation 66 37 (83) – (17) 37
Other activities (11) (20) – (16) (11) (36)
Pre-tax share of operating results of joint ventures and associates
3 881 5 106 (108) 133 3 773 5 239
Liquefied Natural Gas 211 140 – – 211 140
Transmission and Distribution 27 28 – – 27 28
Power Generation 92 81 – – 92 81
Total operating profit/(loss)
330 249 – – 330 249
Exploration and Production 2 087 3 512 (67) 151 2 020 3 663
Liquefied Natural Gas 1 551 1 585 43 – 1 594 1 585
Transmission and Distribution 426 160 (1) (2) 425 158
Power Generation 158 118 (83) – 75 118
Other activities (11) (20) – (16) (11) (36)
Net finance (costs)/income
4 211 5 355 (108) 133 4 103 5 488
Finance income 63 227 4 49 67 276
Finance costs (160) (150) (22) (55) (182) (205)
Share of joint ventures and associates (47) (52) – – (47) (52)
Taxation
(144) 25 (18) (6) (162) 19
Taxation (1 629) (2 248) 31 (70) (1 598) (2 318)
Share of joint ventures and associates (79) (39) – – (79) (39)
(1 708) (2 287) 31 (70) (1 677) (2 357)
Profit for the year
Profit attributable to:
2 359 3 093 (95) 57 2 264 3 150
Shareholders (earnings) 2 263 3 068 (95) 59 2 168 3 127
Minority interests 96 25 – (2) 96 23
2 359 3 093 (95) 57 2 264 3 150
(a) Other operating income includes the results of the purchase and re-sale of third-party gas in the UK, income arising from asset optimisation activities undertaken by the Group’s LNG operations and
unrealised gains and losses arising from the mark-to-market movements of commodity based derivative instruments, including certain UK long-term gas sales contracts classified as derivatives under
IAS 39. Further details of the use and valuation of commodity based financial instruments are shown in note 18, page 95. Further information on other operating income is given in note 5, page 87.
(b) Business Performance Other operating income is attributable to segments as follows: E&P £22m (2008 £(9)m), LNG £112m (2008 £40m) and Power £16m (2008 £5m).
(c) Operating profit/(loss) before share of results from joint ventures and associates includes disposals and provisions for impairment of £(213)m (2008 £(24)m), attributable to segments as follows: E&P £(129)m
(2008 £(6)m), T&D £(1)m (2008 £(2)m), Power £(83)m (2008 £nil) and Other activities £nil (2008 £(16)m). Also included are: (i) non-cash re-measurements of £105m (2008 £157m), attributable to segments as
follows: E&P £62m (2008 £157m) and LNG £43m (2008 £nil); and (ii) £349m (2008 £245m) of unsuccessful exploration expenditure written off and charged to the E&P segment.
2009
£m
2008
£m
2009
£m
2008
£m