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v3.19.2

Net debt (Tables) | 12 Months Ended
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Jun. 30, 2019
Statement [LineItems] |
Summary of Net Debt Balance and Gearing Ratio | The Group monitors capital using the net debt balance and the gearing ratio, being the ratio of net debt to net debt plus net assets.
|  | 2019 |  |  | 2018 |
US$M |  | Current |  |  | Non-current |  |  | Current |  |  | Non-current |
Interest bearing liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Bank loans |  |  | 508 |  |  |  | 1,990 |  |  |  | 308 |  |  |  | 2,247 |
Notes and debentures |  |  | 1,002 |  |  |  | 20,527 |  |  |  | 2,228 |  |  |  | 21,070 |
Finance leases |  |  | 65 |  |  |  | 650 |  |  |  | 77 |  |  |  | 725 |
Bank overdraft and short-term borrowings |  |  | 20 |  |  |  | – |  |  |  | 58 |  |  |  | – |
Other |  |  | 66 |  |  |  | – |  |  |  | 65 |  |  |  | 27 |
Total interest bearing liabilities |  |  | 1,661 |  |  |  | 23,167 |  |  |  | 2,736 |  |  |  | 24,069 |
Less cash and cash equivalents |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash |  |  | 2,210 |  |  |  | – |  |  |  | 1,065 |  |  |  | – |
Short-term deposits |  |  | 13,403 |  |  |  | – |  |  |  | 14,806 |  |  |  | – |
Total cash and cash equivalents |  |  | 15,613 |  |  |  | – |  |  |  | 15,871 |  |  |  | – |
Net debt |  |  |  |  |  |  | 9,215 |  |  |  |  |  |  |  | 10,934 |
Net assets |  |  |  |  |  |  | 51,824 |  |  |  |  |  |  |  | 60,670 |
Gearing |  |  |  |  |  |  | 15.1 | % |  |  |  |  |  |  | 15.3 | %
Summary of Cash and Cash Equivalents, Net of Overdrafts | Cash and short-term deposits are disclosed in the cash flow statement net of bank overdrafts and interest bearing liabilities at call.
|  | 2019 |  |  | 2018 |  |  | 2017 |
|  | US$M |  |  | US$M |  |  | US$M |
Total cash and cash equivalents |  |  | 15,613 |  |  |  | 15,871 |  |  |  | 14,153 |
Bank overdrafts and short-term borrowing |  |  | (20 | ) |  |  | (58 | ) |  |  | (45 | )
Total cash and cash equivalents, net of overdrafts |  |  | 15,593 |  |  |  | 15,813 |  |  |  | 14,108 |
Summary of Maturity Profile of Financial Liabilities Based on the Contractual Amounts | The maturity profile of the Group’s financial liabilities based on the undiscounted contractual amounts, taking into account the derivatives related to debt, is as follows:
2019 US$M |  | Bank loans, debentures and other loans |  |  | Expected future interest payments |  |  | Derivatives related to debentures |  |  | Other derivatives |  |  | Obligations under finance leases |  |  | Trade and other payables(1) |  |  | Total |
Due for payment: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
In one year or less or on demand |  |  | 1,587 |  |  |  | 864 |  |  |  | 200 |  |  |  | 64 |  |  |  | 110 |  |  |  | 6,555 |  |  |  | 9,380 |
In more than one year but not more than two years |  |  | 4,107 |  |  |  | 775 |  |  |  | 226 |  |  |  | 1 |  |  |  | 110 |  |  |  | 5 |  |  |  | 5,224 |
In more than two years but not more than five years |  |  | 5,513 |  |  |  | 1,864 |  |  |  | 558 |  |  |  | – |  |  |  | 307 |  |  |  | – |  |  |  | 8,242 |
In more than five years |  |  | 11,662 |  |  |  | 4,896 |  |  |  | 1,102 |  |  |  | – |  |  |  | 501 |  |  |  | – |  |  |  | 18,161 |
Total |  |  | 22,869 |  |  |  | 8,399 |  |  |  | 2,086 |  |  |  | 65 |  |  |  | 1,028 |  |  |  | 6,560 |  |  |  | 41,007 |
Carrying amount |  |  | 24,113 |  |  |  | – |  |  |  | 958 |  |  |  | 65 |  |  |  | 715 |  |  |  | 6,560 |  |  |  | 32,411 |
2018 US$M |  | Bank loans, debentures and other loans |  |  | Expected future interest payments |  |  | Derivatives related to debentures |  |  | Other derivatives |  |  | Obligations under finance leases |  |  | Trade and other payables(1) |  |  | Total |
Due for payment: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
In one year or less or on demand |  |  | 2,647 |  |  |  | 682 |  |  |  | 302 |  |  |  | 17 |  |  |  | 127 |  |  |  | 5,788 |  |  |  | 9,563 |
In more than one year but not more than two years |  |  | 1,545 |  |  |  | 957 |  |  |  | 188 |  |  |  | 1 |  |  |  | 113 |  |  |  | 3 |  |  |  | 2,807 |
In more than two years but not more than five years |  |  | 8,019 |  |  |  | 2,203 |  |  |  | 823 |  |  |  | – |  |  |  | 335 |  |  |  | – |  |  |  | 11,380 |
In more than five years |  |  | 13,287 |  |  |  | 5,519 |  |  |  | 1,191 |  |  |  | – |  |  |  | 590 |  |  |  | – |  |  |  | 20,587 |
Total |  |  | 25,498 |  |  |  | 9,361 |  |  |  | 2,504 |  |  |  | 18 |  |  |  | 1,165 |  |  |  | 5,791 |  |  |  | 44,337 |
Carrying amount |  |  | 26,003 |  |  |  | – |  |  |  | 1,213 |  |  |  | 18 |  |  |  | 802 |  |  |  | 5,791 |  |  |  | 33,827 |
(1) | Excludes input taxes of US$162 million (2018: US$189 million) included in other payables. Refer to note 9 ‘Trade and other payables’.
Currency risk [member] |
Statement [LineItems] |
Summary of Interest Bearing Liabilities and Cash and Cash Equivalents Denominated by Currency | Interest bearing liabilities and cash and cash equivalents include balances denominated in the following currencies:
|  | Interest bearing liabilities |  |  | Cash and cash equivalents |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
|  | US$M |  |  | US$M |  |  | US$M |  |  | US$M |
USD |  |  | 12,485 |  |  |  | 12,981 |  |  |  | 9,214 |  |  |  | 7,024 |
EUR |  |  | 7,680 |  |  |  | 9,070 |  |  |  | 6 |  |  |  | 5,845 |
GBP |  |  | 3,118 |  |  |  | 3,104 |  |  |  | 48 |  |  |  | 1,560 |
AUD |  |  | 951 |  |  |  | 1,077 |  |  |  | 3,023 |  |  |  | 9 |
CAD |  |  | 594 |  |  |  | 573 |  |  |  | 3,092 |  |  |  | 1,301 |
Other |  |  | – |  |  |  | – |  |  |  | 230 |  |  |  | 132 |
Total |  |  | 24,828 |  |  |  | 26,805 |  |  |  | 15,613 |  |  |  | 15,871 |

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