Presentation slides and script (pdf, 2.6MB) | Investors - BP

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Moving now to cash flow, this slide compares our sources and uses of cash in thefirst nine months of 2012 and 2013.Operating cash flow in the first nine months was $15.7 billion, of which $6.3 billionwas generated in the third quarter. Excluding oil spill related outgoings, underlyingcash flow in the first nine months of 2013 was lower than a year ago. Year-to-datecash flow has been impacted by a working capital build of around $5.5 billion whichwe would expect to unwind over time.In the third quarter we received $400 million of divestment proceeds bringing thetotal for the first nine months to $16.7 billion. This includes the net cash receivedfrom the divestment of our share in TNK-BP.Organic capital expenditure was $17.5 billion in the first nine months and $5.9 billionin the third quarter.14
Net debt at the end of the third quarter was $20.1 billion with gearing of 13.3%compared to 20.9% a year ago.Our intention remains to keep gearing in a target band of 10 to 20% whilstuncertainties remain.15
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Presentation slides and script (pdf, 2.6MB) | Investors - BP

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