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Financial risk management - Fair values (Tables)

6 Months Ended

Dec. 31, 2019

Summary of Financial Assets and Liabilities

Financial assets and liabilities


	IFRS 13 Fair value hierarchy Level	IFRS 9 Classification	31 Dec 2019 US$M		30 June 2019 US$M
Fair value hierarchy (1)
Current cross currency and interest rate swaps	2	Fair value through profit or loss		11		15
Current other derivative contracts (2)	2,3	Fair value through profit or loss		33		57
Current other investments (3)	1,2	Fair value through profit or loss		10		15
Non-current cross currency and interest rate swaps	2	Fair value through profit or loss		696		739
Non-current other derivative contracts (2)	2,3	Fair value through profit or loss		192		180
Non-current investment in shares	3	Fair value through other comprehensive income		33		34
Non-current investment in shares	3	Fair value through profit or loss		–		6
Non-current other investments (3)(4)	1,2,3	Fair value through profit or loss		344		344

Total other financial assets				1,319		1,390
Cash and cash equivalents		Amortised cost		14,321		15,613
Trade and other receivables (5)		Amortised cost		2,014		1,929
Provisionally priced trade receivables	2	Fair value through profit or loss		1,331		1,446
Loans to equity accounted investments		Amortised cost		40		33

Total financial assets				19,025		20,411

Non-financial assets				83,265		80,450

Total assets				102,290		100,861

Current cross currency and interest rate swaps	2	Fair value through profit or loss		210		63
Current other derivative contracts (2)	2,3	Fair value through profit or loss		153		64
Non-current cross currency and interest rate swaps	2	Fair value through profit or loss		730		895
Non-current other derivative contracts (2)	2,3	Fair value through profit or loss		1		1

Total other financial liabilities				1,094		1,023
Trade and other payables (6)		Amortised cost		5,339		6,283
Provisionally priced trade payables	2	Fair value through profit or loss		354		277
Bank overdrafts and short-term borrowings (7)		Amortised cost		–		20
Bank loans (7)		Amortised cost		2,694		2,498
Notes and debentures (7)		Amortised cost		21,534		21,529
Leases liabilities		Amortised cost		2,578		715
Other (7)		Amortised cost		2		66

Total financial liabilities				33,595		32,411

Non-financial liabilities				16,277		16,626

Total liabilities				49,872		49,037

(1)	All of the Group’s financial assets and financial liabilities recognised at fair value were valued using market observable inputs categorised as Level 2 with the exception of the specified items in the following footnotes.

(2)

Includes other derivative contracts of US$

219

million (30 June 2019: US$200 million) categorised as Level 3. Significant items are derivatives embedded in physical commodity purchase and sales contracts of gas in Trinidad and Tobago with net assets fair value of US$

million (30 June 2019: US$202 million).

(3)	Includes investments held by BHP Foundation which are restricted and not available for general use by the Group of US$ 303 million (30 June 2019: US$309 million) of which other investments (US Treasury Notes) of US$ 121 million is categorised as Level 1 (30 June 2019: US$128 million).

(4)	Includes other investments of US$ 46 million (30 June 2019: US$47 million) categorised as Level 3.

(5)	Excludes input taxes of US$ 464 million (30 June 2019: US$367 million) included in other receivables.

(6)	Excludes input taxes of US$ 110 million (30 June 2019: US$162 million) included in other payables.

(7)	All interest bearing liabilities, excluding lease liabilities , are unsecured.