CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
14 BASIC AND DILUTED EARNINGS PER SHARE
Basic and diluted earnings per share for the year ended December 31, 2011 and December 31, 2010 have been computed by dividing profit for the year attributable to owners of the Company by 183,021 million shares issued and outstanding for the year.
There are no potentially dilutive ordinary shares.
FINANCIAL STATEMENTS PETROCHINA COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS (Amounts in millions unless otherwise stated)
15 DIVIDENDS
2011 2010
RMB RMB
Interim dividends attributable to owners of the Company for 2011 (a) 29,703 -Proposed final dividends attributable to owners of the Company for 2011 (b) 30,129 - Interim dividends attributable to owners of the Company for 2010 (c) - 29,399
Final dividends attributable to owners of the Company for 2010 (d) - 33,597
59,832 62,996
(a) Interim dividends attributable to owners of the Company in respect of 2011 of RMB 0.16229 yuan per share amounting to a total of RMB 29,703 and were paid on October 21, 2011.
(b) At the fourth meeting of the Fifth Session of the Board of the Company, the Board of Directors proposed final dividends attributable to owners of the Company in respect of 2011 of RMB 0.16462 yuan per share amounting to a total of RMB 30,129. These consolidated financial statements do not reflect this dividend payable as the final dividends were proposed after the reporting period and will be accounted for in equity as an appropriation of retained earnings in the year ending December 31, 2012 when approved at the forthcoming Annual General Meeting.
(c) Interim dividends attributable to owners of the Company in respect of 2010 of RMB 0.16063 yuan per share amounting to a total of RMB 29,399 and were paid on October 15, 2010.
(d) Final dividends attributable to owners of the Company in respect of 2010 of RMB 0.18357 yuan per share amounting to a total of RMB 33,597 were paid on June 30, 2011.
(e) Final dividends attributable to owners of the Company in respect of 2009 of RMB 0.13003 yuan per share amounting to a total of RMB 23,799 were paid on June 30, 2010.
Group
Year Ended
December 31, 2011 Buildings
Oil and Gas Properties
Equipment
Machineryand Motor
Vehicles Other Construction
in Progress Total
RMB RMB RMB RMB RMB RMB RMB
Cost
At beginning of the year 129,385 1,024,936 548,946 23,107 12,768 240,266 1,979,408
Additions 1,854 8,432 6,151 4,375 605 268,309 289,726
Transfers 17,886 131,186 74,150 - 1,251 (224,473) -
Disposals or write offs (2,074) (4,682) (8,762) (581) (127) (12,302) (28,528)
Currency translation
differences (377) (4,222) (446) (82) (313) (307) (5,747)
At end of the year 146,674 1,155,650 620,039 26,819 14,184 271,493 2,234,859
Accumulated depreciation and impairment
At beginning of the year (39,762) (434,501) (250,312) (11,479) (4,612) (143) (740,809)
Charge for the year (7,502) (80,452) (44,247) (2,272) (1,181) (6) (135,660)
Disposals or write offs or
transfers 1,165 2,431 7,459 493 75 - 11,623
Currency translation
differences 134 1,426 189 74 147 24 1,994
At end of the year (45,965) (511,096) (286,911) (13,184) (5,571) (125) (862,852) Net book value
At end of the year 100,709 644,554 333,128 13,635 8,613 271,368 1,372,007
FINANCIAL STATEMENTS PETROCHINA COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS (Amounts in millions unless otherwise stated)
Year Ended
December 31, 2010 Buildings
Oil and Gas Properties
Equipment
Machineryand Motor
Vehicles Other Construction
in Progress Total
RMB RMB RMB RMB RMB RMB RMB
Cost
At beginning of the year 110,910 888,849 452,564 20,184 11,051 225,479 1,709,037
Additions 2,596 29,545 10,864 3,660 589 247,232 294,486
Transfers 17,604 112,488 90,377 - 1,163 (221,632)
-Disposals or write offs (1,642) (4,880) (4,813) (708) (207) (10,714) (22,964)
Currency translation
differences (83) (1,066) (46) (29) 172 (99) (1,151)
At end of the year 129,385 1,024,936 548,946 23,107 12,768 240,266 1,979,408
Accumulated depreciation and impairment
At beginning of the year (32,113) (369,437) (218,288) (9,732) (3,725) (275) (633,570)
Charge for the year (8,544) (68,702) (35,596) (2,163) (1,055) (21) (116,081)
Disposals or write offs or
transfers 860 2,976 3,500 400 141 152 8,029
Currency translation
differences 35 662 72 16 27 1 813
At end of the year (39,762) (434,501) (250,312) (11,479) (4,612) (143) (740,809) Net book value
At end of the year 89,623 590,435 298,634 11,628 8,156 240,123 1,238,599
Year Ended
December 31, 2011 Buildings
Oil and Gas Properties
Equipment
Machineryand Motor
Vehicles Other Construction
in Progress Total
RMB RMB RMB RMB RMB RMB RMB
Cost
At beginning of the year 92,176 694,454 472,021 14,690 7,932 176,390 1,457,663
Transfer from subsidiary 7 - - - 7
Additions 1,111 3,512 4,233 3,360 242 201,836 214,294
Transfers 12,362 92,846 61,099 - 713 (167,020) -
Disposals or write offs (1,538) (4,359) (7,496) (363) (76) (10,414) (24,246)
At end of the year 104,118 786,453 529,857 17,687 8,811 200,792 1,647,718
Accumulated depreciation and impairment
At beginning of the year (29,643) (296,338) (220,949) (7,239) (3,712) (88) (557,969)
Transfer from subsidiary (2) - - - (2)
Charge for the year (5,711) (54,439) (38,206) (1,562) (607) (5) (100,530)
Disposals or write offs or
transfers 936 2,703 6,651 327 86 - 10,703
At end of the year (34,420) (348,074) (252,504) (8,474) (4,233) (93) (647,798) Net book value
At end of the year 69,698 438,379 277,353 9,213 4,578 200,699 999,920
FINANCIAL STATEMENTS PETROCHINA COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS (Amounts in millions unless otherwise stated)
Year Ended
December 31, 2010 Buildings
Oil and Gas Properties
Equipment
Machineryand Motor
Vehicles Other Construction
in Progress Total
RMB RMB RMB RMB RMB RMB RMB
Cost
At beginning of the year 81,052 605,756 386,597 13,515 7,053 178,932 1,272,905
Transfer from subsidiary 8 - 22 3 1 - 34
Additions 1,494 11,981 7,919 1,737 366 180,899 204,396
Transfers 11,110 80,580 81,729 - 652 (174,071)
-Disposals or write offs (1,488) (3,863) (4,246) (565) (140) (9,370) (19,672)
At end of the year 92,176 694,454 472,021 14,690 7,932 176,390 1,457,663
Accumulated depreciation and impairment
At beginning of the year (25,727) (250,717) (191,060) (6,398) (3,226) (240) (477,368)
Transfer from subsidiary - - (15) (2) - - (17)
Charge for the year (4,754) (47,916) (33,445) (1,148) (572) - (87,835)
Disposals or write offs or
transfers 838 2,295 3,571 309 86 152 7,251
At end of the year (29,643) (296,338) (220,949) (7,239) (3,712) (88) (557,969) Net book value
At end of the year 62,533 398,116 251,072 7,451 4,220 176,302 899,694
The depreciation charge of the Group for the year ended December 31, 2011 included impairment losses of RMB 953 and RMB 7,462 (2010: RMB 2,915 and RMB 1,337) primarily related to certain of the Group’s oil and gas properties and refining and chemical production assets, respectively. The impairment of the oil and gas properties and refining and chemical production assets is due primarily to higher production costs and operating costs at older and less efficient facilities. The carrying values of these assets were written down to their recoverable values.
The following table indicates the changes to the Group’s exploratory well costs, which are included in construction in progress, for the years ended December 31, 2011 and 2010.
At beginning of the year 20,351 17,221 Additions to capitalised exploratory well costs pending the
determination of proved reserves 26,600 25,239
Reclassified to wells, facilities, and equipment based on the
determination of proved reserves (14,465) (11,395)
Capitalised exploratory well costs charged to expense (12,302) (10,714)
At end of the year 20,184 20,351
The following table provides an aging of capitalised exploratory well costs based on the date the drilling was completed.
December 31, 2011 December 31, 2010
RMB RMB
One year or less 19,223 18,900
Over one year 961 1,451
Balance at December 31 20,184 20,351
RMB 961 at December 31, 2011 (December 31, 2010: RMB 1,451) of capitalised exploratory well costs over one year are principally related to wells that are under further evaluation of drilling results or pending completion of development planning to ascertain economic viability.
FINANCIAL STATEMENTS PETROCHINA COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS (Amounts in millions unless otherwise stated)