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Net finance costs (Tables)
 12 Months Ended
Jun. 30, 2018
Text block1 [abstract]  
Summary of Net Finance Costs
     2018     2017     2016  
     US$M     US$M     US$M  

Financial expenses

       

Interest on bank loans, overdrafts and all other borrowings

      1,168       1,130       969  

Interest capitalised at 4.24% (2017: 3.25%; 2016: 2.61%) (1)

      (139 )      (113 )      (123 ) 

Discounting on provisions and other liabilities

      414       450       304  

Fair value change on hedged loans

      (265 )      (1,185 )      1,444  

Fair value change on hedging derivatives

      329       1,244       (1,448 ) 

Exchange variations on net debt

      (19 )      (23 )      (24 ) 

Other financial expenses

      79       57       28  
  

 

 

    

 

 

    

 

 

  
     1,567       1,560       1,150  
  

 

 

    

 

 

    

 

 

  

Financial income

       

Interest income

      (322 )      (143 )      (137 ) 
  

 

 

    

 

 

    

 

 

  

Net finance costs

      1,245       1,417       1,013  
  

 

 

    

 

 

    

 

 

  

 

(1) 

Interest has been capitalised at the rate of interest applicable to the specific borrowings financing the assets under construction or, where financed through general borrowings, at a capitalisation rate representing the average interest rate on such borrowings. Tax relief for capitalised interest is approximately US$42 million (2017: US$34 million; 2016: US$37 million).