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Net debt (Tables)
 12 Months Ended
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