XML 68 R7.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Segment reporting | 12 Months Ended
--- | ---
Jun. 30, 2018
Text block1 [abstract] |
Segment reporting | 1 Segment reporting Reportable segments The Group operated four reportable segments during FY2018, which are aligned with the commodities that are extracted and marketed and reflect the structure used by the Group’s management to assess the performance of the Group.
Reportable segment |  | Principal activities
Petroleum |  | Exploration, development and production of oil and gas
Copper |  | Mining of copper, silver, lead, zinc, molybdenum, uranium and gold
Iron Ore |  | Mining of iron ore
Coal |  | Mining of metallurgical coal and energy coal
Unless otherwise noted, the segment reporting information excludes Discontinued operations, being the Petroleum Onshore US operations comprising the Eagle Ford, Haynesville, Permian and Fayetteville oil and gas assets. Group and unallocated items includes functions and other unallocated operations, including Potash, Nickel West and consolidation adjustments. Revenue not attributable to reportable segments comprises the sale of freight and fuel to third parties, as well as revenues from unallocated operations. Exploration and technology activities are recognised within relevant segments.
Year ended 30 June 2018 US$M |  | Petroleum |  |  | Copper |  |  | Iron Ore |  |  | Coal |  |  | Group and unallocated items/ eliminations (4) |  |  | Group total |
Revenue |  |  | 5,333 |  |  |  | 13,287 |  |  |  | 14,797 |  |  |  | 8,889 |  |  |  | 1,332 |  |  |  | 43,638 |
Inter-segment revenue |  |  | 75 |  |  |  | – |  |  |  | 13 |  |  |  | – |  |  |  | (88 | ) |  |  | – |
Total revenue |  |  | 5,408 |  |  |  | 13,287 |  |  |  | 14,810 |  |  |  | 8,889 |  |  |  | 1,244 |  |  |  | 43,638 |
Underlying EBITDA |  |  | 3,341 |  |  |  | 6,522 |  |  |  | 8,930 |  |  |  | 4,397 |  |  |  | (7 | ) |  |  | 23,183 |
Depreciation and amortisation (1) |  |  | (1,719 | ) |  |  | (1,920 | ) |  |  | (1,721 | ) |  |  | (686 | ) |  |  | (242 | ) |  |  | (6,288 | )
Impairment losses (2) |  |  | (76 | ) |  |  | (213 | ) |  |  | (14 | ) |  |  | (29 | ) |  |  | (1 | ) |  |  | (333 | )
Underlying EBIT |  |  | 1,546 |  |  |  | 4,389 |  |  |  | 7,195 |  |  |  | 3,682 |  |  |  | (250 | ) |  |  | 16,562 |
Exceptional items (3) |  |  | – |  |  |  | – |  |  |  | (539 | ) |  |  | – |  |  |  | (27 | ) |  |  | (566 | )
Net finance costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,245 | )
Profit before taxation |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 14,751 |
Capital expenditure (cash basis) |  |  | 656 |  |  |  | 2,428 |  |  |  | 1,074 |  |  |  | 409 |  |  |  | 412 |  |  |  | 4,979 |
Profit/(loss) from equity accounted investments, related impairments and expenses |  |  | (4 | ) |  |  | 467 |  |  |  | (509 | ) |  |  | 192 |  |  |  | 1 |  |  |  | 147 |
Investments accounted for using the equity method |  |  | 249 |  |  |  | 1,335 |  |  |  | – |  |  |  | 883 |  |  |  | 6 |  |  |  | 2,473 |
Total assets |  |  | 12,938 |  |  |  | 26,824 |  |  |  | 22,208 |  |  |  | 12,257 |  |  |  | 37,766 |  |  |  | 111,993 |
Total liabilities |  |  | 4,886 |  |  |  | 3,145 |  |  |  | 3,888 |  |  |  | 2,404 |  |  |  | 37,000 |  |  |  | 51,323 |
Year ended 30 June 2017 US$M |  | Petroleum |  |  | Copper |  |  | Iron Ore |  |  | Coal |  |  | Group and unallocated items/ eliminations (4) |  |  | Group total |
Revenue |  |  | 4,639 |  |  |  | 8,335 |  |  |  | 14,606 |  |  |  | 7,578 |  |  |  | 977 |  |  |  | 36,135 |
Inter-segment revenue |  |  | 83 |  |  |  | – |  |  |  | 18 |  |  |  | – |  |  |  | (101 | ) |  |  | – |
Total revenue |  |  | 4,722 |  |  |  | 8,335 |  |  |  | 14,624 |  |  |  | 7,578 |  |  |  | 876 |  |  |  | 36,135 |
Underlying EBITDA |  |  | 3,117 |  |  |  | 3,545 |  |  |  | 9,077 |  |  |  | 3,784 |  |  |  | (173 | ) |  |  | 19,350 |
Depreciation and amortisation (1) |  |  | (1,648 | ) |  |  | (1,525 | ) |  |  | (1,828 | ) |  |  | (719 | ) |  |  | (252 | ) |  |  | (5,972 | )
Impairment losses (2) |  |  | (102 | ) |  |  | (14 | ) |  |  | (52 | ) |  |  | (15 | ) |  |  | (5 | ) |  |  | (188 | )
Underlying EBIT |  |  | 1,367 |  |  |  | 2,006 |  |  |  | 7,197 |  |  |  | 3,050 |  |  |  | (430 | ) |  |  | 13,190 |
Exceptional items (3) |  |  | – |  |  |  | (546 | ) |  |  | (203 | ) |  |  | 164 |  |  |  | (51 | ) |  |  | (636 | )
Net finance costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,417 | )
Profit before taxation |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 11,137 |
Capital expenditure (cash basis) |  |  | 917 |  |  |  | 1,484 |  |  |  | 805 |  |  |  | 246 |  |  |  | 245 |  |  |  | 3,697 |
Profit/(loss) from equity accounted investments, related impairments and expenses |  |  | (3 | ) |  |  | 295 |  |  |  | (172 | ) |  |  | 152 |  |  |  | – |  |  |  | 272 |
Investments accounted for using the equity method |  |  | 264 |  |  |  | 1,306 |  |  |  | – |  |  |  | 873 |  |  |  | 5 |  |  |  | 2,448 |
Total assets |  |  | 13,726 |  |  |  | 26,743 |  |  |  | 22,781 |  |  |  | 11,996 |  |  |  | 41,760 |  |  |  | 117,006 |
Total liabilities |  |  | 4,715 |  |  |  | 2,643 |  |  |  | 3,606 |  |  |  | 1,860 |  |  |  | 41,456 |  |  |  | 54,280 |
Year ended 30 June 2016 US$M |  | Petroleum |  |  | Copper |  |  | Iron Ore |  |  | Coal |  |  | Group and unallocated items/ eliminations (4) |  |  | Group total |
Revenue |  |  | 4,431 |  |  |  | 8,249 |  |  |  | 10,516 |  |  |  | 4,518 |  |  |  | 853 |  |  |  | 28,567 |
Inter-segment revenue |  |  | 118 |  |  |  | – |  |  |  | 22 |  |  |  | – |  |  |  | (140 | ) |  |  |  |
Total revenue |  |  | 4,549 |  |  |  | 8,249 |  |  |  | 10,538 |  |  |  | 4,518 |  |  |  | 713 |  |  |  | 28,567 |
Underlying EBITDA |  |  | 3,038 |  |  |  | 2,619 |  |  |  | 5,599 |  |  |  | 635 |  |  |  | (171 | ) |  |  | 11,720 |
Depreciation and amortisation (1) |  |  | (1,696 | ) |  |  | (1,560 | ) |  |  | (1,817 | ) |  |  | (890 | ) |  |  | (247 | ) |  |  | (6,210 | )
Impairment losses (2) |  |  | (24 | ) |  |  | (17 | ) |  |  | (42 | ) |  |  | (94 | ) |  |  | (9 | ) |  |  | (186 | )
Underlying EBIT |  |  | 1,318 |  |  |  | 1,042 |  |  |  | 3,740 |  |  |  | (349 | ) |  |  | (427 | ) |  |  | 5,324 |
Exceptional items (3) |  |  | – |  |  |  | – |  |  |  | (2,388 | ) |  |  | – |  |  |  | (132 | ) |  |  | (2,520 | )
Net finance costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,013 | )
Loss before taxation |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,791 |
Capital expenditure (cash basis) |  |  | 1,278 |  |  |  | 2,786 |  |  |  | 1,061 |  |  |  | 298 |  |  |  | 284 |  |  |  | 5,707 |
Profit/(loss) from equity accounted investments, related impairments and expenses |  |  | (7 | ) |  |  | 155 |  |  |  | (2,244 | ) |  |  | (9 | ) |  |  | 1 |  |  |  | (2,104 | )
Investments accounted for using the equity method |  |  | 280 |  |  |  | 1,388 |  |  |  | – |  |  |  | 901 |  |  |  | 6 |  |  |  | 2,575 |
Total assets |  |  | 14,120 |  |  |  | 26,143 |  |  |  | 24,330 |  |  |  | 12,754 |  |  |  | 41,606 |  |  |  | 118,953 |
Total liabilities |  |  | 4,264 |  |  |  | 2,299 |  |  |  | 3,789 |  |  |  | 2,103 |  |  |  | 46,427 |  |  |  | 58,882 |
(1) | Depreciation and amortisation excludes exceptional items of US$ nil (FY2017: US$212 million; FY2016: US$ nil).
(2) | Impairment losses excludes exceptional items of US$ nil (FY2017: US$5 million; FY2016: US$ nil).
(3) | Exceptional items reported in Group and unallocated include Samarco dam failure costs of US$(27) million (FY2017: US$(51) million; FY2016: US$(62) million). Refer to note 2 ‘Exceptional items’ for further information.
(4) | Total assets and total liabilities include balances for the years ended 30 June 2018, 2017 and 2016 relating to Onshore US assets.
Geographical information
|  | Revenue by location of customer |
|  | 2018 |  |  | 2017 |  |  | 2016 |
|  | US$M |  |  | US$M |  |  | US$M |
Australia |  |  | 2,304 |  |  |  | 2,037 |  |  |  | 1,846 |
Europe |  |  | 1,886 |  |  |  | 1,641 |  |  |  | 1,141 |
China |  |  | 22,935 |  |  |  | 18,875 |  |  |  | 13,177 |
Japan |  |  | 4,709 |  |  |  | 3,086 |  |  |  | 2,941 |
India |  |  | 2,484 |  |  |  | 1,938 |  |  |  | 1,478 |
South Korea |  |  | 2,639 |  |  |  | 2,296 |  |  |  | 1,919 |
Rest of Asia |  |  | 2,620 |  |  |  | 3,157 |  |  |  | 2,623 |
North America |  |  | 2,715 |  |  |  | 2,233 |  |  |  | 2,355 |
South America |  |  | 1,106 |  |  |  | 681 |  |  |  | 899 |
Rest of world |  |  | 240 |  |  |  | 191 |  |  |  | 188 |
|  |  | 43,638 |  |  |  | 36,135 |  |  |  | 28,567 |
|  | Non-current assets by location of assets |
|  | 2018 |  |  | 2017 |  |  | 2016 |
|  | US$M |  |  | US$M |  |  | US$M |
Australia |  |  | 45,157 |  |  |  | 46,949 |  |  |  | 49,465 |
North America (1) |  |  | 8,246 |  |  |  | 22,860 |  |  |  | 23,943 |
South America (2) |  |  | 18,267 |  |  |  | 18,899 |  |  |  | 18,614 |
Rest of world (2) |  |  | 154 |  |  |  | 173 |  |  |  | 389 |
Unallocated assets (3) |  |  | 5,039 |  |  |  | 7,069 |  |  |  | 8,828 |
|  |  | 76,863 |  |  |  | 95,950 |  |  |  | 101,239 |
(1) | Balances for the years ended 30 June 2017 and 2016 include non-current assets relating to Onshore US assets.
(2) | Prior periods have been restated to reflect the location of equity accounted investments operations rather than the location of the holding company.
(3) | Unallocated assets comprise deferred tax assets and other financial assets.
Underlying EBITDA Underlying EBITDA is earnings before net finance costs, depreciation, amortisation and impairments, taxation expense, Discontinued operations and any exceptional items. Underlying EBITDA includes BHP’s share of profit/(loss) from investments accounted for using the equity method including net finance costs, depreciation, amortisation and impairments and taxation expense. Underlying EBITDA is the key alternative performance measure that management uses internally to assess the performance of the Group’s segments and make decisions on the allocation of resources and, in the Group’s view, is more relevant to capital intensive industries with long-life assets. We exclude exceptional items from Underlying EBITDA in order to enhance the comparability of such measures from period-to-period and provide our investors with further clarity in order to assess the underlying performance of our operations. Management monitors exceptional items separately. Refer to note 2 ‘Exceptional items’ for additional detail. Segment assets and liabilities Total segment assets and liabilities of reportable segments represents operating assets and operating liabilities, including the carrying amount of equity accounted investments and predominantly excludes cash balances, loans to associates, interest bearing liabilities and deferred tax balances. The carrying value of investments accounted for using the equity method represents the balance of the Group’s investment in equity accounted investments, with no adjustment for any cash balances, interest bearing liabilities or deferred tax balances of the equity accounted investment. Recognition and measurement Revenue Revenue is measured at the fair value of the consideration received or receivable. Sale of products Revenue is recognised when the risk and rewards of ownership of the goods have passed to the buyer based on agreed delivery terms and it can be measured reliably. Depending on customer terms this can be based on issuance of a bill of lading or when delivery is completed as per the agreement with the customer. Provisionally priced sales Revenue on provisionally priced sales is initially recognised at the estimated fair value of consideration receivable with reference to the relevant forward and/or contractual price and the determined mineral or hydrocarbon specifications. Subsequently, provisionally priced sales are marked to market at each reporting period up until when final pricing and settlement is confirmed with the fair value adjustment recognised in revenue in the period identified. Refer to note 20 ‘Financial risk management’ for details of provisionally priced sales open at reporting period-end. The period between provisional pricing and final invoicing is typically between 60 and 120 days.

X
- Definition Text block. + References No definition available. + Details
Name: | bhp_TextBlock1Abstract
Namespace Prefix: | bhp_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 8 -IssueDate 2017-01-01 -Section Disclosure -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=8&date=2017-03-01&anchor=sect_Disclosure&doctype=Standard -URIDate 2017-03-09 + Details
Name: | ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration