BP (BP)

Note 17 — Profit per ordinary share

        The calculation of basic earnings per ordinary share is based on the profit attributable to ordinary shareholders, i.e., profit for the year less preference dividends, related to the weighted average number of ordinary shares outstanding during the year. The profit attributable to ordinary shareholders is $15,729 million (2003 $10,480 million and 2002 $6,793 million). The average number of shares outstanding excludes the shares held by the Employee Share Ownership Plans.

        The calculation of diluted earnings per share is based on profit attributable to ordinary shareholders, adjusted for the unwinding of the discount on the deferred consideration for the acquisition of our interest in TNK-BP, of $15,793 million (2003 $10,504 million and 2002 $6,793 million). The number of shares outstanding is adjusted to show the potential dilution if employee share options are converted into ordinary shares, and for the ordinary shares issuable, in two further annual tranches, in respect of the TNK-BP joint venture. The number of ordinary shares outstanding for basic and diluted earnings per share may be reconciled as follows:

Note 17 — Profit per ordinary share

        The calculation of basic earnings per ordinary share is based on the profit attributable to ordinary shareholders, i.e., profit for the year less preference dividends, related to the weighted average number of ordinary shares outstanding during the year. The profit attributable to ordinary shareholders is $15,729 million (2003 $10,480 million and 2002 $6,793 million). The average number of shares outstanding excludes the shares held by the Employee Share Ownership Plans.

        The calculation of diluted earnings per share is based on profit attributable to ordinary shareholders, adjusted for the unwinding of the discount on the deferred consideration for the acquisition of our interest in TNK-BP, of $15,793 million (2003 $10,504 million and 2002 $6,793 million). The number of shares outstanding is adjusted to show the potential dilution if employee share options are converted into ordinary shares, and for the ordinary shares issuable, in two further annual tranches, in respect of the TNK-BP joint venture. The number of ordinary shares outstanding for basic and diluted earnings per share may be reconciled as follows: