Stock Analysis on Net

BP PLC (NYSE:BP)

$22.49

This company has been moved to the archive! The financial data has not been updated since March 3, 2015.

Analysis of Equity Method Investments

Microsoft Excel

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Selected Financial Data

BP PLC selected financial data

US$ in millions

Microsoft Excel
Dec 31, 2014 Dec 31, 2013 Dec 31, 2012 Dec 31, 2011 Dec 31, 2010
Earnings from joint ventures and associates, after interest and tax
Group share of net assets of joint ventures and associates
Profitability Ratio
ROA (equity method investments only)1

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).

1 2014 Calculation
ROA (equity method investments only) = 100 × Earnings from joint ventures and associates, after interest and tax ÷ Group share of net assets of joint ventures and associates
= 100 × ÷ =

Item Description The company
Earnings from joint ventures and associates, after interest and tax This item represents the entity proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. Such amount typically reflects adjustments similar to those made in preparing consolidated statements, including adjustments to eliminate intercompany gains and losses, and to amortize, if appropriate, any difference between cost and underlying equity in net assets of the investee at the date of investment. BP PLC earnings from joint ventures and associates, after interest and tax decreased from 2012 to 2013 but then slightly increased from 2013 to 2014.
Group share of net assets of joint ventures and associates This item represents the carrying amount on the entity balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment losses recognized. BP PLC group share of net assets of joint ventures and associates increased from 2012 to 2013 but then slightly decreased from 2013 to 2014 not reaching 2012 level.
ROA (equity method investments only) A profitability ratio calculated as earnings from joint ventures and associates, after interest and tax divided by group share of net assets of joint ventures and associates. BP PLC ROA of equity method investments deteriorated from 2012 to 2013 but then slightly improved from 2013 to 2014.

Summarized Financial Information

Summarized financial information for BP PLC affiliates, subsidiaries, associates, and joint ventures

US$ in millions

Microsoft Excel
Dec 31, 2014 Dec 31, 2013 Dec 31, 2012 Dec 31, 2011 Dec 31, 2010
Joint ventures
Associates
Non-current assets
Joint ventures
Associates
Current assets
Total assets
Joint ventures
Associates
Current liabilities
Joint ventures
Associates
Non-current liabilities
Total liabilities
Joint ventures
Associates
Equity
Associates
Non-controlling interests
Total liabilities and equity
Joint ventures
Associates
Sales and other operating revenues
Joint ventures
Associates
Profit before interest and taxation
Joint ventures
Associates
Finance costs
Profit before taxation
Joint ventures
Associates
Taxation
Associates
Non-controlling interests
Profit for the year

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).

Item Description The company
Equity Amount of equity, excluding noncontrolling interest, attributable to the equity method investment of the entity. Equity of BP PLC affiliates, subsidiaries, associates, and joint ventures increased from 2012 to 2013 but then slightly decreased from 2013 to 2014 not reaching 2012 level.
Profit for the year The amount of net income (loss) reported by an equity method investment of the entity. Profit for the year of BP PLC affiliates, subsidiaries, associates, and joint ventures decreased from 2012 to 2013 but then slightly increased from 2013 to 2014.

Adjustments to Financial Statements: Proportionate Consolidation

Recognition of BP PLC proportionate share of affiliates, subsidiaries, associates, and joint ventures assets and liabilities instead of net equity.

BP PLC, adjustments to financial statements

US$ in millions

Microsoft Excel
Dec 31, 2014 Dec 31, 2013 Dec 31, 2012 Dec 31, 2011 Dec 31, 2010
Weighted average percentage interest in affiliates
Adjustment to Current Assets
Current assets (as reported)
Add: Current assets of affiliates (adjustment)
Current assets (adjusted)
Adjustments to Total Assets
Total assets (as reported)
Less: Group share of net assets of joint ventures and associates (adjustment)
Add: Total assets of affiliates (adjustment)
Total assets (adjusted)
Adjustment to Current Liabilities
Current liabilities (as reported)
Add: Current liabilities of affiliates (adjustment)
Current liabilities (adjusted)
Adjustment to Total Liabilities
Total liabilities (as reported)
Add: Total liabilities of affiliates (adjustment)
Total liabilities (adjusted)
Adjustment to Non-controlling Interests
Non-controlling interests (as reported)
Add: Non-controlling interests of affiliates (adjustment)
Non-controlling interests (adjusted)
Adjustment to Sales And Other Operating Revenues
Sales and other operating revenues (as reported)
Add: Sales and other operating revenues of affiliates (adjustment)
Sales and other operating revenues (adjusted)

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).


BP PLC, Financial Data: Reported vs. Adjusted


Adjusted Financial Ratios: Proportionate Consolidation (Summary)

BP PLC, adjusted financial ratios

Microsoft Excel
Dec 31, 2014 Dec 31, 2013 Dec 31, 2012 Dec 31, 2011 Dec 31, 2010
Current Ratio
Reported current ratio
Adjusted current ratio
Net Profit Margin
Reported net profit margin
Adjusted net profit margin
Total Asset Turnover
Reported total asset turnover
Adjusted total asset turnover
Financial Leverage
Reported financial leverage
Adjusted financial leverage
Return on Assets (ROA)
Reported ROA
Adjusted ROA

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).

Financial ratio Description The company
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. BP PLC adjusted current ratio deteriorated from 2012 to 2013 but then slightly improved from 2013 to 2014.
Adjusted net profit margin An indicator of profitability, calculated as net income divided by adjusted revenue. BP PLC adjusted net profit margin ratio improved from 2012 to 2013 but then deteriorated significantly from 2013 to 2014.
Adjusted total asset turnover An activity ratio calculated as adjusted total revenue divided by adjusted total assets. BP PLC adjusted total asset turnover ratio deteriorated from 2012 to 2013 but then slightly improved from 2013 to 2014.
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.
BP PLC adjusted financial leverage ratio increased from 2012 to 2013 and from 2013 to 2014.
Adjusted ROA A profitability ratio calculated as net income divided by adjusted total assets. BP PLC adjusted ROA improved from 2012 to 2013 but then deteriorated significantly from 2013 to 2014.

BP PLC, Financial Ratios: Reported vs. Adjusted


Adjusted Current Ratio

Microsoft Excel
Dec 31, 2014 Dec 31, 2013 Dec 31, 2012 Dec 31, 2011 Dec 31, 2010
As Reported
Selected Financial Data (US$ in millions)
Current assets
Current liabilities
Liquidity Ratio
Current ratio1
Adjusted: from Equity Method to Proportionate Consolidation
Selected Financial Data (US$ in millions)
Adjusted current assets
Adjusted current liabilities
Liquidity Ratio
Adjusted current ratio2

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).

2014 Calculations

1 Current ratio = Current assets ÷ Current liabilities
= ÷ =

2 Adjusted current ratio = Adjusted current assets ÷ Adjusted current liabilities
= ÷ =

Liquidity ratio Description The company
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. BP PLC adjusted current ratio deteriorated from 2012 to 2013 but then slightly improved from 2013 to 2014.

Adjusted Net Profit Margin

Microsoft Excel
Dec 31, 2014 Dec 31, 2013 Dec 31, 2012 Dec 31, 2011 Dec 31, 2010
As Reported
Selected Financial Data (US$ in millions)
Profit (loss) for the year attributable to BP shareholders
Sales and other operating revenues
Profitability Ratio
Net profit margin1
Adjusted: from Equity Method to Proportionate Consolidation
Selected Financial Data (US$ in millions)
Profit (loss) for the year attributable to BP shareholders
Adjusted sales and other operating revenues
Profitability Ratio
Adjusted net profit margin2

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).

2014 Calculations

1 Net profit margin = 100 × Profit (loss) for the year attributable to BP shareholders ÷ Sales and other operating revenues
= 100 × ÷ =

2 Adjusted net profit margin = 100 × Profit (loss) for the year attributable to BP shareholders ÷ Adjusted sales and other operating revenues
= 100 × ÷ =

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as net income divided by adjusted revenue. BP PLC adjusted net profit margin ratio improved from 2012 to 2013 but then deteriorated significantly from 2013 to 2014.

Adjusted Total Asset Turnover

Microsoft Excel
Dec 31, 2014 Dec 31, 2013 Dec 31, 2012 Dec 31, 2011 Dec 31, 2010
As Reported
Selected Financial Data (US$ in millions)
Sales and other operating revenues
Total assets
Activity Ratio
Total asset turnover1
Adjusted: from Equity Method to Proportionate Consolidation
Selected Financial Data (US$ in millions)
Adjusted sales and other operating revenues
Adjusted total assets
Activity Ratio
Adjusted total asset turnover2

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).

2014 Calculations

1 Total asset turnover = Sales and other operating revenues ÷ Total assets
= ÷ =

2 Adjusted total asset turnover = Adjusted sales and other operating revenues ÷ Adjusted total assets
= ÷ =

Activity ratio Description The company
Adjusted total asset turnover An activity ratio calculated as adjusted total revenue divided by adjusted total assets. BP PLC adjusted total asset turnover ratio deteriorated from 2012 to 2013 but then slightly improved from 2013 to 2014.

Adjusted Financial Leverage

Microsoft Excel
Dec 31, 2014 Dec 31, 2013 Dec 31, 2012 Dec 31, 2011 Dec 31, 2010
As Reported
Selected Financial Data (US$ in millions)
Total assets
Total BP shareholders’ equity
Solvency Ratio
Financial leverage1
Adjusted: from Equity Method to Proportionate Consolidation
Selected Financial Data (US$ in millions)
Adjusted total assets
Total BP shareholders’ equity
Solvency Ratio
Adjusted financial leverage2

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).

2014 Calculations

1 Financial leverage = Total assets ÷ Total BP shareholders’ equity
= ÷ =

2 Adjusted financial leverage = Adjusted total assets ÷ Total BP shareholders’ equity
= ÷ =

Solvency ratio Description The company
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.
BP PLC adjusted financial leverage ratio increased from 2012 to 2013 and from 2013 to 2014.

Adjusted Return on Assets (ROA)

Microsoft Excel
Dec 31, 2014 Dec 31, 2013 Dec 31, 2012 Dec 31, 2011 Dec 31, 2010
As Reported
Selected Financial Data (US$ in millions)
Profit (loss) for the year attributable to BP shareholders
Total assets
Profitability Ratio
ROA1
Adjusted: from Equity Method to Proportionate Consolidation
Selected Financial Data (US$ in millions)
Profit (loss) for the year attributable to BP shareholders
Adjusted total assets
Profitability Ratio
Adjusted ROA2

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).

2014 Calculations

1 ROA = 100 × Profit (loss) for the year attributable to BP shareholders ÷ Total assets
= 100 × ÷ =

2 Adjusted ROA = 100 × Profit (loss) for the year attributable to BP shareholders ÷ Adjusted total assets
= 100 × ÷ =

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as net income divided by adjusted total assets. BP PLC adjusted ROA improved from 2012 to 2013 but then deteriorated significantly from 2013 to 2014.