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Discontinued operations (Tables) | 6 Months Ended
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Dec. 31, 2018
Statement [LineItems] |
Summary of Exceptional Items | Exceptional items are those gains or losses where their nature, including the expected frequency of the events giving rise to them, and amount is considered material to the financial statements. Such items included within the Group’s profit for the half year are detailed below. Exceptional items attributable to Discontinued operations are detailed in note 13 Discontinued operations:
Half year ended 31 December 2018 |  | Gross US$M |  |  | Tax US$M |  |  | Net US$M |
Exceptional items by category |  |  |  |  |  |  |  |  |  |  |  |
Samarco dam failure |  |  | (210 | ) |  |  | – |  |  |  | (210 | )
Global taxation matters |  |  | – |  |  |  | 242 |  |  |  | 242 |
Total |  |  | (210 | ) |  |  | 242 |  |  |  | 32 |
Attributable to non-controlling interests |  |  | – |  |  |  | – |  |  |  | – |
Attributable to BHP shareholders |  |  | (210 | ) |  |  | 242 |  |  |  | 32 |
Global taxation matters Global taxation matters includes amounts released from provisions for tax matters and other claims resolved during the period.
Half year ended 31 December 2017 Restated |  | Gross US$M |  |  | Tax US$M |  |  | Net US$M |
Exceptional items by category |  |  |  |  |  |  |  |  |  |  |  |
Samarco dam failure |  |  | (210 | ) |  |  | – |  |  |  | (210 | )
US tax reform |  |  | – |  |  |  | (2,320 | ) |  |  | (2,320 | )
Total |  |  | (210 | ) |  |  | (2,320 | ) |  |  | (2,530 | )
Attributable to non-controlling interests |  |  | – |  |  |  | – |  |  |  | – |
Attributable to BHP shareholders |  |  | (210 | ) |  |  | (2,320 | ) |  |  | (2,530 | )
Year ended 30 June 2018 |  | Gross US$M |  |  | Tax US$M |  |  | Net US$M |
Exceptional items by category |  |  |  |  |  |  |  |  |  |  |  |
Samarco dam failure |  |  | (650 | ) |  |  | – |  |  |  | (650 | )
US tax reform |  |  | – |  |  |  | (2,320 | ) |  |  | (2,320 | )
Total |  |  | (650 | ) |  |  | (2,320 | ) |  |  | (2,970 | )
Attributable to non-controlling interests |  |  | – |  |  |  | – |  |  |  | – |
Attributable to BHP shareholders |  |  | (650 | ) |  |  | (2,320 | ) |  |  | (2,970 | )
Summary of Income Statement - Discontinued Operations | Income statement – Discontinued operations
|  | Half year ended 31 Dec 2018 US$M |  |  | Half year ended 31 Dec 2017 US$M |  |  | Year ended 30 June 2018 US$M |
Revenue |  |  | 850 |  |  |  | 1,002 |  |  |  | 2,171 |
Other income |  |  | 28 |  |  |  | 14 |  |  |  | 34 |
Expenses excluding net finance costs |  |  | (608 | ) |  |  | (1,445 | ) |  |  | (5,790 | )
Profit/(loss) from operations |  |  | 270 |  |  |  | (429 | ) |  |  | (3,585 | )
Financial expenses |  |  | (8 | ) |  |  | (12 | ) |  |  | (22 | )
Net finance costs |  |  | (8 | ) |  |  | (12 | ) |  |  | (22 | )
Profit/(loss) before taxation |  |  | 262 |  |  |  | (441 | ) |  |  | (3,607 | )
Income tax (expense)/benefit |  |  | (58 | ) |  |  | 609 |  |  |  | 686 |
Profit/(loss) after taxation from operating activities |  |  | 204 |  |  |  | 168 |  |  |  | (2,921 | )
Net loss on disposal |  |  | (497 | ) |  |  | – |  |  |  | – |
(Loss)/profit after taxation |  |  | (293 | ) |  |  | 168 |  |  |  | (2,921 | )
Attributable to non-controlling interests |  |  | 7 |  |  |  | 22 |  |  |  | 26 |
Attributable to BHP shareholders |  |  | (300 | ) |  |  | 146 |  |  |  | (2,947 | )
Basic (loss)/earnings per ordinary share (cents) |  |  | (5.6 | ) |  |  | 2.7 |  |  |  | (55.4 | )
Diluted (loss)/earnings per ordinary share (cents) |  |  | (5.6 | ) |  |  | 2.7 |  |  |  | (55.4 | )
Summary of Cash Flows from Discontinued Operations | Cash flows from Discontinued operations
|  | Half year ended 31 Dec 2018 US$M |  |  | Half year ended 31 Dec 2017 US$M |  |  | Year ended 30 June 2018 US$M |
Net operating cash flows |  |  | 565 |  |  |  | 350 |  |  |  | 900 |
Net investing cash flows(1) |  |  | (443 | ) |  |  | (301 | ) |  |  | (861 | )
Net financing cash flows(2) |  |  | (13 | ) |  |  | (27 | ) |  |  | (40 | )
Net increase/(decrease) in cash and cash equivalents from Discontinued operations |  |  | 109 |  |  |  | 22 |  |  |  | (1 | )
Net proceeds received from the sale of Onshore US |  |  | 7,028 |  |  |  | – |  |  |  | – |
Less Cash and cash equivalents |  |  | (104 | ) |  |  | – |  |  |  | – |
Proceeds from divestment of Onshore US, net of its cash |  |  | 6,924 |  |  |  | – |  |  |  | – |
Total cash impact |  |  | 7,033 |  |  |  | 22 |  |  |  | (1 | )
(1) | Includes purchases of property, plant and equipment of US$443 million related to drilling and development expenditure (31 December 2017: US$335 million; 30 June 2018: US$900 million) less proceeds from sale of assets of US$ nil (31 December 2017: US$35 million; 30 June 2018: US$39 million), and other investing outflows of US$ nil (31 December 2017: US$1 million; 30 June 2018: US$ nil).
(2) | Includes net repayment of interest bearing liabilities of US$6 million (31 December 2017: US$2 million; 30 June 2018: US$4 million), distribution to non-controlling interests of US$ nil (31 December 2017: US$6 million; 30 June 2018: US$14 million) and dividends paid to non-controlling interests of US$7 million (31 December 2017: US$19 million; 30 June 2018: US$22 million).
Summary of Net Loss on Disposal of Discontinued Operations | Net loss on disposal of Discontinued operations Details of the net loss on disposal is presented in the table below:
|  | 2018 US$M |
Assets |  |  |  |
Cash and cash equivalents |  |  | 104 |
Trade and other receivables |  |  | 562 |
Other financial assets |  |  | 32 |
Inventories |  |  | 34 |
Property, plant and equipment |  |  | 10,998 |
Intangible assets |  |  | 667 |
Total assets |  |  | 12,397 |
Liabilities |  |  |  |
Trade and other payables |  |  | 796 |
Provisions |  |  | 493 |
Total liabilities |  |  | 1,289 |
Net assets |  |  | 11,108 |
Less non-controlling interest share of net assets disposed |  |  | (168 | )
BHP Share of net assets disposed |  |  | 10,940 |
Gross consideration |  |  | 10,590 |
Less transaction costs |  |  | (60 | )
Income tax expense |  |  | (87 | )
Net loss on disposal |  |  | (497 | )
Discontinued operations [member] |
Statement [LineItems] |
Summary of Exceptional Items | Exceptional items – Discontinued operations Exceptional items are those gains or losses where their nature, including the expected frequency of the events giving rise to them, and amount is considered material to the financial statements. Half year ended 31 December 2018 There were no exceptional items related to Discontinued operations for the half year ended 31 December 2018. Items related to Discontinued operations included within the Group’s profit for the half year ended 31 December 2017 are detailed below:
Half year ended 31 December 2017 |  | Gross US$M |  |  | Tax US$M |  |  | Net US$M |
Exceptional items by category |  |  |  |  |  |  |  |  |  |  |  |
US tax reform |  |  | – |  |  |  | 492 |  |  |  | 492 |
Total |  |  | – |  |  |  | 492 |  |  |  | 492 |
Attributable to non-controlling interests |  |  | – |  |  |  | – |  |  |  | – |
Attributable to BHP shareholders |  |  | – |  |  |  | 492 |  |  |  | 492 |
Items related to Discontinued operations included within the Group’s profit for the year ended 30 June 2018 are detailed below:
Year ended 30 June 2018 |  | Gross US$M |  |  | Tax US$M |  |  | Net US$M |
Exceptional items by category |  |  |  |  |  |  |  |  |  |  |  |
US tax reform |  |  | – |  |  |  | 492 |  |  |  | 492 |
Impairment of Onshore US assets |  |  | (2,859 | ) |  |  | 109 |  |  |  | (2,750 | )
Total |  |  | (2,859 | ) |  |  | 601 |  |  |  | (2,258 | )
Attributable to non-controlling interests |  |  | – |  |  |  | – |  |  |  | – |
Attributable to BHP shareholders |  |  | (2,859 | ) |  |  | 601 |  |  |  | (2,258 | )
Samarco dam failure [member] |
Statement [LineItems] |
Summary of Exceptional Items | The exceptional loss of US$210 million related to the Samarco dam failure in November 2015 comprises the following:
Half year ended 31 December 2018 |  | US$M |
Expenses excluding net finance costs: |  |  |  |
Costs incurred directly by BHP Billiton Brasil Ltda and other BHP entities in relation to the Samarco dam failure |  |  | (33 | )
Loss from equity accounted investments, related impairments and expenses: |  |  |  |
Share of loss relating to the Samarco dam failure |  |  | (47 | )
Samarco dam failure provision |  |  | (70 | )
Net finance costs |  |  | (60 | )
Total(1) |  |  | (210 | )
(1) | Refer to note 12 Significant events – Samarco dam failure for further information.

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