Income statement analysis (Tables)

12 Months Ended

Dec. 31, 2024

Analysis of income and expense [abstract]

Summary of finance income and finance costs

			$ million
	2024	2023	2022
Interest and other income
Interest income from
Financial assets measured at amortized cost	1,308	1,034	371
Financial assets measured at fair value through profit or loss	181	215	59
Other incomea	1,284	386	673
	2,773	1,635	1,103
Currency exchange losses charged to the income statementb	541	74	160
Expenditure on research and development	301	298	274
Costs relating to the Gulf of America oil spill (pre-interest and tax)c	51	57	84
Finance costs
Interest expense on lease liabilities	468	363	245
Interest expense on other liabilities measured at amortized costd	3,483	3,115	2,070
Capitalized at 4.94% (2023 4.88% and 2022 3.56%)e	(382)	(514)	(464)
Finance debt risk management activitiesf	104	(35)	43
Unwinding of discount on provisions	617	504	369
Unwinding of discount on other payables measured at amortized cost	393	407	440
	4,683	3,840	2,703

a2024 includes a $427 million gain relating to the remeasurement of bp's previously held interests in bp Bunge Bioenergia and Lightsource bp and $498 million relating to the remeasurement of certain US

assets excluded from the Lightsource bp acquisition. See Note 3 for further information.

bExcludes exchange gains and losses arising on financial instruments measured at fair value through profit or loss.

cIncluded within production and manufacturing expenses.

d2023 includes a loss of $49 million and 2022 a gain of $37 million associated with the buyback of finance debt.

eTax relief on capitalized interest is approximately $53 million (2023 $130 million and 2022 $108 million).

fIncludes temporary valuation differences related to the group’s interest rate and foreign currency exchange risk management associated with finance debt.