BP 2005 Annual Report Download - page 150

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148 Making energy more
Notes on financial statements
1 Auditors’ remuneration
Audit fees were $6 million (2004 $4 million and 2003 $2 million).
2 Taxation $ million
TAX INCLUDED IN STATEMENT OF TOTAL RECOGNIZED GAINS AND LOSSES 2005 2004 2003
Deferred tax
Origination and reversal of temporary differences in the current year 348 59 252
Tax included in statement of total recognized gains and losses 348 59 252
This comprises
Actuarial gain relating to pensions 348 59 252
Tax included in statement of total recognized gains and losses 348 59 252
DEFERRED TAX $ million
Balance sheet
2005 2004 2003
Deferred tax liability
Pensions 968 628 469
968 628 469
Deferred tax asset
Other taxable temporary differences 436 362 256
436 362 256
Net deferred tax liability 532 266 213
Analysis of movements during the year
At 1 January 265 213 (40)
Exchange adjustments (87) 41 (5)
Charge for the year on ordinary activities 6 (47) 6
Charge for the year in the statement of total recognized gains and losses 348 59 252
At 31 December 532 266 213