Balance Sheet: Liabilities and Stockholders’ Equity

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

BP PLC, consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

	Dec 31, 2014	Dec 31, 2013	Dec 31, 2012	Dec 31, 2011	Dec 31, 2010
Trade payables	23,074)	28,926)	29,703)	29,830)	27,510)
Other payables	17,044)	18,233)	17,451)	22,575)	18,819)
Trade and other payables	40,118)	47,159)	47,154)	52,405)	46,329)
Derivative financial instruments	3,689)	2,322)	2,658)	3,220)	3,856)
Accruals	7,102)	8,960)	6,810)	5,932)	5,612)
Current finance debt	6,877)	7,381)	10,030)	9,044)	14,626)
Current tax payable	2,011)	1,945)	2,501)	1,941)	2,920)
Provisions	3,818)	5,045)	7,587)	11,238)	9,489)
Liabilities directly associated with assets classified as held for sale	—)	—)	846)	538)	1,047)
Current liabilities	63,615)	72,812)	77,586)	84,318)	83,879)
Other payables	3,587)	4,756)	2,102)	3,437)	14,285)
Derivative financial instruments	3,199)	2,225)	2,723)	3,773)	3,677)
Accruals	861)	547)	448)	389)	637)
Non-current finance debt	45,977)	40,811)	38,767)	35,169)	30,710)
Deferred tax liabilities	13,893)	17,439)	15,064)	15,078)	10,908)
Provisions	29,080)	26,915)	30,334)	26,404)	22,418)
Defined benefit pension plan and other post-retirement benefit plan deficits	11,451)	9,778)	13,549)	12,018)	9,857)
Non-current liabilities	108,048)	102,471)	102,987)	96,268)	92,492)
Total liabilities	171,663)	175,283)	180,573)	180,586)	176,371)
Total BP shareholders’ equity	111,441)	129,302)	118,414)	111,465)	94,987)
Non-controlling interests	1,201)	1,105)	1,206)	1,017)	904)
Total equity	112,642)	130,407)	119,620)	112,482)	95,891)
Total liabilities and equity	284,305)	305,690)	300,193)	293,068)	272,262)

Based on: 20-F (reporting date: 2014-12-31), 20-F (reporting date: 2013-12-31), 20-F (reporting date: 2012-12-31), 20-F (reporting date: 2011-12-31), 20-F (reporting date: 2010-12-31).

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Balance sheet item	Description	The company
Current liabilities	Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.	BP PLC current liabilities decreased from 2012 to 2013 and from 2013 to 2014.
Non-current liabilities	Amount of obligation due after one year or beyond the normal operating cycle, if longer.	BP PLC non-current liabilities decreased from 2012 to 2013 but then increased from 2013 to 2014 exceeding 2012 level.
Total liabilities	Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.	BP PLC total liabilities decreased from 2012 to 2013 and from 2013 to 2014.
Total BP shareholders’ equity	Total of all stockholders’ equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity stockholders’ equity attributable to the parent excludes the amount of stockholders’ equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.	BP PLC total BP shareholders’ equity increased from 2012 to 2013 but then decreased significantly from 2013 to 2014.

BP PLC (NYSE:BP)

Balance Sheet: Liabilities and Stockholders’ Equity