Can someone explain to me why the BPF was originally 1.32 for 2021 when we averaged 1.49 over Q1-Q3? Did we tank in Q4? I really doubt it considering the favorable macro conditions…
Maybe I’m being cynical but I think 1.5 should have been the actual BPF and the “management adjustment” was BS to make us feel better about the EC
Were you not told? They bumped the overall BPF to 1.5.
As others have mentioned, the BPF shown in successive quarters is cumulative - not standalone. That said, how the **** did we manage 1.1 in Q4 when WTI has averaged >$80?? Guess our learner mindset score came in low…
The cumulative BPF after 3 quarters was 1.38, so the Q4-only BPF would have to have been like 1.1 to bring the full year score down to 1.32. Seems plausible.
Seems at least possible.
The BPF reported each quarter is a running average for the year to date. Not a stand alone for the quarter .....