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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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Return on average capital employed (including goodwill and non-operating items)
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%
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16.9
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20.7
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21.9
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16.5
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21.4
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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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