BP » Topics » BP p.l.c. AND SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
This excerpt taken from the BP 6-K filed Aug 9, 2007.
BP p.l.c. AND SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Six months
ended
30 June 2007 ($ million,
except ratios)
(Unaudited)
Profit
before taxation
17,910
Group’s
share of income in excess of dividends
of joint
ventures and associates
(537
)
Capitalized
interest, net of amortization
(123
)
Profit
as adjusted
17,250
Fixed
charges:
Interest
expense
515
Rental
expense representative of interest
547
Capitalized
interest
177
1,239
Total
adjusted earnings available for payment of fixed charges
18,489
Ratio
of earnings to fixed charges
14.9
Fixed
charges, as adjusted to accord with US GAAP
1,239
Total
adjusted earnings available for payment of fixed charges, after taking
account of adjustments to profit before taxation to accord with US GAAP
(a)
17,476
Ratio
of earnings to fixed charges with adjustments to accord with US GAAP
14.1
(a)
See
Note 13 of Notes to Consolidated Financial Statements.
