BP Annual Review 2003 Introduction Performance highlights Chairman's letter Group chief executive's review It starts here Financial performance Business performance Environmental and social performance Summary accounts Summary corporate governance Summary directors' remuneration report Board of directors Annual general meeting and information for shareholders Further information	United States accounting principles The following is a summary of adjustments to profit for the year and to BP shareholders' interest which would be required if generally accepted accounting principles in the United States (US GAAP) had been applied instead of those generally accepted in the United Kingdom (UK GAAP). The results are stated using the first-in first-out method of stock valuation. $ million   2003 2002 Profit for the year 10,267 6,845 Deferred taxation/business combinations 33 (315 ) Provisions 49 8 Revisions to fair market values 289 – Sale and leaseback 69 24 Goodwill 1,376 1,302 Derivative financial instruments 12 540 Gain arising on asset exchange (17 ) (18 ) Other 13 11 Profit for the year before cumulative effect of accounting changes as adjusted to accord with US GAAP 12,091 8,397 Provisions 1,002 – Derivative financial instruments 50 – Profit for the year as adjusted to accord with US GAAP 13,143 8,397 Dividend requirement on preference shares 2 2 Profit for the year applicable to ordinary shares as adjusted to accord with US GAAP 13,141 8,395 Per ordinary share – cents     Basic – before cumulative effect of accounting changes 54.53 37.48 Cumulative effect of accounting changes 4.74 –   59.27 37.48 Diluted – before cumulative effect of accounting changes 54.01 37.30 Cumulative effect of accounting changes 4.69 –   58.70 37.30 Per American depositary sharea – cents Basic – before cumulative effect of accounting changes 327.18 224.88 Cumulative effect of accounting changes 28.44 –   355.62 224.88 Diluted – before cumulative effect of accounting changes 324.06 223.80 Cumulative effect of accounting changes 28.14 –   352.20 223.80 $ million   2003 2002 BP shareholders' interest 75,938 69,409 Deferred taxation/business combinations (65 ) (78 ) Provisions (128 ) (1,088 ) Sale and leaseback (37 ) (106 ) Goodwill 1,669 (84 ) Derivative financial instruments (72 ) (135 ) Gain arising on asset exchange 129 142 Ordinary shares held for future awards to employees (96 ) (159 ) Dividends 1,495 1,398 Investments 1,251 34 Additional minimum pension liability (277 ) (2,164 ) Other (43 ) (48 ) BP shareholders' interest as adjusted to accord with US GAAP 79,764 67,121 aOne American depositary share is equivalent to six 25 cent ordinary shares. In this section   Summary group income statement   Summary group balance sheet   Summary group cash flow statement   Notes   Independent auditors' statement United States accounting principles

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