EX-7 3 dex7.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of ratio of earnings to fixed charges

Exhibit 7

 

BP p.l.c. AND SUBSIDIARIES

 

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Unaudited)

 

     Year ended
December 31,
2003
  
     ($ million)  

Profit before taxation

    16,409  

BP’s share of income in excess of dividends from joint ventures and associated undertakings

    (756 )

Capitalized interest

    (190 )
    

Profit as adjusted

    15,463  
    

Fixed charges

       

Interest net of interest expense of joint ventures and associated undertakings and unwinding of discount and change in discount rate for provisions

    510  

Rental expense representative of interest

    490  

Capitalized interest

    190  
    
                 1,190  
    

Total adjusted earnings available for payment of fixed charges

    16,653  
    

Ratio of earnings to fixed charges

    14.0  
    

Total adjusted earnings available for payment of fixed charges, after taking account of adjustments to profit before taxation to accord with US GAAP

    16,921  
    

Ratio of earnings to fixed charges with adjustments to accord with US GAAP

    14.2  
    

 

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