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Units
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2004
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2005
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2006
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2007
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2008
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Ratios - Replacement cost basis - select from menu
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|
|
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|
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Debt to debt-plus-equity ratio
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%
|
23
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19
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22
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24
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27
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Debt to equity ratio
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%
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30
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24
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28
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32
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36
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Net debt to net debt-plus-equity ratio
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%
|
22
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17
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20
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22
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21
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Net debt to equity ratio
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%
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28
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20
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25
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28
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27
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The group adopted International Financial Reporting Standards (IFRS) with effect from 1 January 2005. Financial information for 2004 has been restated to reflect the adoption of IFRS. BP chose not to adopt International Accounting Standard No. 39 'Financial Instruments: Recognition and Measurement' (IAS 39) until 1 January 2005, and so financial assets and liabilities, including derivatives, are reported on the basis of UK generally accepted accounting practice (UK GAAP) for 2004. The balance sheet at 1 January 2005 is also presented to show the effect of adopting IAS 39.
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