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Net finance costs
 6 Months Ended
Dec. 31, 2019
Text block [abstract]  
Net finance costs
5.
Net finance costs
 
 
   
Half year
ended

31 Dec

2019

US$M
   
Half year
ended

31 Dec

2018

US$M
  
Year

ended

30 June

2019

US$M
 
Financial expenses
              
Interest expense using the effective interest rate method:
              
Interest on bank loans, overdrafts and all other borrowings
  
 
593
 
   660   1,296 
Interest capitalised at
4.51
% (31 December 2018: 4.94%; 30 June 2019: 4.96%)
(1)
  
 
(155
)
 
   (109)   (248) 
Interest on lease liabilities
  
 
48
 
   23   47 
Discounting on provisions and other liabilities
   
256
    223   470 
Other gains and losses:
   
 
          
Fair value change on hedged loans
   
(12
)    106   729 
Fair value change on hedging derivatives
   
(6
)    (148)   (809) 
Exchange variations on net debt
   
12
    11   6 
Other
   
5
    6   19 
   
 
 
   
 
 
  
 
 
 
Total
f
inancial expenses
  
 
741
 
   772   1,510 
   
 
 
   
 
 
  
 
 
 
Financial income
              
Interest income
  
 
(217
)
 
   (239)   (446) 
   
 
 
   
 
 
  
 
 
 
Net finance costs
  
 
524
 
   533   1,064 
   
 
 
   
 
 
  
 
 
 
 
(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.