BP Annual Report and Form 20-F 2011 - Company Reporting

Notes on financial statements46. Condensed consolidating information on certain US subsidiaries continuedBalance Sheet continued$ millionAt 31 December 2010Issuer GuarantorBPExplorationOtherEliminationsand(Alaska) Inc. BP p.l.c. subsidiaries a reclassifications BP group aNon-current assetsProperty, plant and equipment 7,679 – 102,484 – 110,163Goodwill – – 8,598 – 8,598Intangible assets 425 – 13,873 – 14,298Investments in jointly controlled entities – – 14,927 – 14,927Investments in associates – 2 13,333 – 13,335Other investments – – 1,191 – 1,191Subsidiaries – equity-accounted basis 4,489 112,227 – (116,716) –Fixed assets 12,593 112,229 154,406 (116,716) 162,512Loans – 38 5,161 (4,305) 894Other receivables – – 6,298 – 6,298Derivative financial instruments – – 4,210 – 4,210Prepayments – – 1,432 – 1,432Deferred tax assets – – 528 – 528Defined benefit pension plan surpluses – 1,870 306 – 2,17612,593 114,137 172,341 (121,021) 178,050Current assetsLoans – – 247 – 247Inventories 244 – 25,974 – 26,218Trade and other receivables 3,173 14,444 42,783 (23,851) 36,549Derivative financial instruments – – 4,356 – 4,356Prepayments 6 – 1,568 – 1,574Current tax receivable – – 693 – 693Other investments – – 1,532 – 1,532Cash and cash equivalents (1) 4 18,553 – 18,5563,422 14,448 95,706 (23,851) 89,725Assets classified as held for sale – – 4,487 – 4,4873,422 14,448 100,193 (23,851) 94,212Total assets 16,015 128,585 272,534 (144,872) 272,262Current liabilitiesTrade and other payables 4,931 2,362 62,887 (23,851) 46,329Derivative financial instruments – – 3,856 – 3,856Accruals – 23 5,589 – 5,612Finance debt – – 14,626 – 14,626Current tax payable 182 – 2,738 – 2,920Provisions – – 9,489 – 9,4895,113 2,385 99,185 (23,851) 82,832Liabilities directly associated with assets classified as held for sale – – 1,047 – 1,0475,113 2,385 100,232 (23,851) 83,879Non-current liabilitiesOther payables 9 4,258 14,323 (4,305) 14,285Derivative financial instruments – – 3,677 – 3,677Accruals – 35 602 – 637Finance debt – – 30,710 – 30,710Deferred tax liabilities 2,026 410 8,472 – 10,908Provisions 958 – 21,460 – 22,418Defined benefit pension plan and other post-retirement benefitplan deficits – – 9,857 – 9,8572,993 4,703 89,101 (4,305) 92,492Total liabilities 8,106 7,088 189,333 (28,156) 176,371Net assets 7,909 121,497 83,201 (116,716) 95,891EquityBP shareholders’ equity 7,909 121,497 82,297 (116,716) 94,987Minority interest – – 904 – 904Total equity 7,909 121,497 83,201 (116,716) 95,891Financial statementsa Adjusted following the termination of the Pan American Energy LLC sale agreement as described in Note 4.BP Annual Report and Form 20-F 2011 257