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Provisions (Tables) | 12 Months Ended
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Jun. 30, 2021
Provision for dividends and other liabilities [member] |
Statement [Line Items] |
Summary of Provisions | The disclosure below excludes closure and rehabilitation provisions (refer to note 15 ‘Closure and rehabilitation provisions’), employee benefits, restructuring and post-retirement employee benefits provisions (refer to note 26 ‘Employee benefits, restructuring and post-retirement employee benefits provisions’) and provisions related to the Samarco dam failure (refer to note 4 ‘Significant events – Samarco dam failure’).
|  | 2021 |  |  | 2020 |
|  | US$M |  |  | US$M |
Movement in provision for dividends and other liabilities |  |  |  |  |  |  |  |
At the beginning of the financial year |  |  | 1,240 |  |  |  | 501 |
Dividends determined |  |  | 7,894 |  |  |  | 7,234 |
Charge/(credit) for the year: |  |  |  |  |  |  |  |
Underlying |  |  | 260 |  |  |  | 1,027 |
Discounting |  |  | 2 |  |  |  | 3 |
Exchange variation s |  |  | 20 |  |  |  | (356 | )
Released during the year |  |  | (43 | ) |  |  | (94 | )
Utilisation |  |  | (267 | ) |  |  | (99 | )
Dividends paid |  |  | (7,901 | ) |  |  | (6,876 | )
Transfers and other movements |  |  | (624 | ) |  |  | (100 | )
At the end of the financial year |  |  | 581 |  |  |  | 1,240 |
Comprising: |  |  |  |  |  |  |  |
Current |  |  | 293 |  |  |  | 258 |
Non-current |  |  | 288 |  |  |  | 982 |
Samarco dam failure [member] |
Statement [Line Items] |
Summary of Financial Impacts of Samarco Dam Failure | The financial impacts of the Samarco dam failure on the Group’s income statement, balance sheet and cash flow statement for the year ended 30 June 2021 are shown in the tables below and have been treated as an exceptional item.
Financial impacts of Samarco dam failure |  | 2021 |  |  | 2020 |  |  | 2019 |
|  | US$M |  |  | US$M |  |  | US$M |
Income statement |  |  |  |  |  |  |  |  |  |  |  |
Other income (1) |  |  | 34 |  |  |  | 489 |  |  |  | 50 |
Expenses excluding net finance costs: |  |  |  |  |  |  |  |  |  |  |  |
Costs incurred directly by BHP Brasil and other BHP entities in relation to the Samarco dam failure (2) |  |  | (46 | ) |  |  | (64 | ) |  |  | (57 | )
Loss from equity accounted investments, related impairments and expenses: |  |  |  |  |  |  |  |  |  |  |  |
Samarco impairment expense (3) |  |  | (111 | ) |  |  | (95 | ) |  |  | (96 | )
Samarco Germano dam decommissioning (4) |  |  | (15 | ) |  |  | 46 |  |  |  | (263 | )
Samarco dam failure provision (5) |  |  | (1,000 | ) |  |  | (459 | ) |  |  | (586 | )
Fair value change on forward exchange derivatives (6) |  |  | 136 |  |  |  | – |  |  |  | – |
Loss from operation s |  |  | (1,002 | ) |  |  | (83 | ) |  |  | (952 | )
Net finance costs (7) |  |  | (85 | ) |  |  | (93 | ) |  |  | (108 | )
Loss before taxation |  |  | (1,087 | ) |  |  | (176 | ) |  |  | (1,060 | )
Income tax expense (8) |  |  | (71 | ) |  |  | – |  |  |  | – |
Loss after taxation |  |  | (1,158 | ) |  |  | (176 | ) |  |  | (1,060 | )
Balance sheet movement |  |  |  |  |  |  |  |  |  |  |  |
Trade and other payables |  |  | (5 | ) |  |  | (5 | ) |  |  | 4 |
Derivatives |  |  | 136 |  |  |  | – |  |  |  | – |
Tax liabilities |  |  | (71 | ) |  |  | – |  |  |  | – |
Provisions |  |  | (741 | ) |  |  | (137 | ) |  |  | (629 | )
Net liabilities |  |  | (681 | ) |  |  | (142 | ) |  |  | (625 | )
|  |  |  |  | 2021 |  |  |  |  |  | 2020 |  |  |  |  |  | 2019 |
|  |  |  |  | US$M |  |  |  |  |  | US$M |  |  |  |  |  | US$M |
Cash flow statement |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loss before taxatio n |  |  |  |  |  |  | (1,087 | ) |  |  |  |  |  |  | (176 | ) |  |  |  |  |  |  | (1,060 | )
Adjustments for: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Samarco impairment expense (3) |  |  | 111 |  |  |  |  |  |  |  | 95 |  |  |  |  |  |  |  | 96 |  |  |  |  |
Samarco Germano dam decommissioning (4) |  |  | 15 |  |  |  |  |  |  |  | (46 | ) |  |  |  |  |  |  | 263 |  |  |  |  |
Samarco dam failure provision (5) |  |  | 1,000 |  |  |  |  |  |  |  | 459 |  |  |  |  |  |  |  | 586 |  |  |  |  |
Fair value change on forward exchange derivatives (6) |  |  | (136 | ) |  |  |  |  |  |  | – |  |  |  |  |  |  |  | – |  |  |  |  |
Net finance costs (7) |  |  | 85 |  |  |  |  |  |  |  | 93 |  |  |  |  |  |  |  | 108 |  |  |  |  |
Changes in assets and liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trade and other payables |  |  | 5 |  |  |  |  |  |  |  | 5 |  |  |  |  |  |  |  | (4 | ) |  |  |  |
Net operating cash flows |  |  |  |  |  |  | (7 | ) |  |  |  |  |  |  | 430 |  |  |  |  |  |  |  | (11 | )
Net investment and funding of equity accounted investments (9) |  |  |  |  |  |  | (470 | ) |  |  |  |  |  |  | (464 | ) |  |  |  |  |  |  | (424 | )
Net investing cash flows |  |  |  |  |  |  | (470 | ) |  |  |  |  |  |  | (464 | ) |  |  |  |  |  |  | (424 | )
Net decrease in cash and cash equivalents |  |  |  |  |  |  | (477 | ) |  |  |  |  |  |  | (34 | ) |  |  |  |  |  |  | (435 | )
(1) | Proceeds from insurance settlements.
(2) | Includes legal and advisor costs incurred.
(3) | Impairment expense from working capital funding provided during the period.
(4) | US$(6) million (2020: US$37 million; 2019: US$263 million) change in estimate and US$21 million (2020: US$(83) million; 2019: US$ nil) exchange translation.
(5) | US$842 million (2020: US$916 million; 2019: US$579 million) change in estimate and US$158 million (2020: US$(457) million; 2019: US$7 million) exchange translation.
(6) | During the period the Group entered into forward exchange contracts to limit the Brazilian reais exposure on the dam failure provisions. While not applying hedge accounting, the fair value changes in the forward exchange instruments are recorded within Loss from equity accounted investments, related impairments and expenses in the Income Statement.
(7) | Amortisation of discounting of provision.
(8) | Includes tax on forward exchange derivatives and other taxes incurred during the period.
(9) | Includes US$(111) million (2020: US$(95) million; 2019: US$(96) million) funding provided during the period, US$(351) million (2020: US$(365) million; 2019: US$(328) million) utilisation of the Samarco dam failure provision, and US$(8) million (2020: US$(4) million; 2019: US$ nil) utilisation of the Samarco Germano decommissioning provision.
Summary of Provisions | Provisions related to the Samarco dam failure
|  |  |  |  | 2021 |  |  |  |  |  | 2020 |
|  |  |  |  | US$M |  |  |  |  |  | US$M |
At the beginning of the financial year |  |  |  |  |  |  | 2,051 |  |  |  |  |  |  |  | 1,914 |
Movement in provisions |  |  |  |  |  |  | 741 |  |  |  |  |  |  |  | 137 |
Comprising: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Utilised |  |  | (359 | ) |  |  |  |  |  |  | (369 | ) |  |  |  |
Adjustments charged to the income statement: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Change in estimate - Samarco dam failure provision |  |  | 842 |  |  |  |  |  |  |  | 916 |  |  |  |  |
Change in estimate - Samarco Germano dam decommissionin g |  |  | (6 | ) |  |  |  |  |  |  | 37 |  |  |  |  |
Amortisation of discounting impacting net finance costs |  |  | 85 |  |  |  |  |  |  |  | 93 |  |  |  |  |
Exchange translation |  |  | 179 |  |  |  |  |  |  |  | (540 | ) |  |  |  |
At the end of the financial year |  |  |  |  |  |  | 2,792 |  |  |  |  |  |  |  | 2,051 |
Comprising: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  |  |  |  |  | 1,206 |  |  |  |  |  |  |  | 896 |
Non-current |  |  |  |  |  |  | 1,586 |  |  |  |  |  |  |  | 1,155 |
At the end of the financial year |  |  |  |  |  |  | 2,792 |  |  |  |  |  |  |  | 2,051 |
Comprising: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Samarco dam failure provision |  |  |  |  |  |  | 2,560 |  |  |  |  |  |  |  | 1,824 |
Samarco Germano dam decommissioning provision |  |  |  |  |  |  | 232 |  |  |  |  |  |  |  | 227 |

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