BBL » Topics » Consolidated cash flow statement

This excerpt taken from the BBL 20-F filed Sep 26, 2007.

Consolidated cash flow statement

The consolidated cash flow statement prepared in accordance with IAS 7 ‘Cash Flow Statements’ presents substantially the same information that is required under US GAAP. However, certain differences exist between IFRS and US GAAP:

 

   

Unlike IFRS, US GAAP cash and cash equivalents exclude bank overdrafts of US$38 million (2006: US$16 million; 2005: US$15 million) repayable on demand.

 

   

Exploration expenditure expensed in accordance with US GAAP (comprising US$528 million expensed under IFRS and an additional US$74 million expensed under US GAAP (2006: US$561 million and US$29 million; 2005: US$351 million and US$51 million)) is treated as an operating cash flow under US GAAP, rather than investing.

 

   

Overburden removal costs of US$159 million (2006: US$150 million; 2005: US$179 million) which are capitalised under IFRS and treated as an investing cash flow are expensed under US GAAP and treated as an operating cash flow (following adoption of EITF 04-6)

 

BHP BILLITON 2007 FINANCIAL STATEMENTS    F-88


Table of Contents

Notes to Financial Statements


38 US Generally Accepted Accounting Principles disclosures continued


This excerpt taken from the BBL 20-F filed Sep 25, 2006.

Consolidated cash flow statement

The consolidated cash flow statement prepared under IFRS (in accordance with IFRS 7/AASB 107 ‘Cash Flow Statements’) presents substantially the same information that is required under US GAAP. However, certain differences exist between IFRS and US GAAP with regard to the definition of cash and cash equivalents and the classification of items within the cash flow statement. Unlike IFRS, US GAAP cash and cash equivalents exclude bank overdrafts repayable on demand (US$16 million). In addition, exploration expenditure (US$ 766 million) and overburden removal costs capitalised (US$ 381 million) have been classified as investing cash flow under IFRS. Under US GAAP, it should be classified as operating cash flow.

 

F-86


Table of Contents

Notes to Financial Statements

39 US Generally Accepted Accounting Principles disclosures continued

EXCERPTS ON THIS PAGE:

20-F
Sep 26, 2007
20-F
Sep 25, 2006
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