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Segment reporting (Tables) | 12 Months Ended
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Jun. 30, 2021
Text block [abstract] |
Summary of Reportable Segments |
Year ended 30 June 2021 US$M |  | Petroleum |  |  | Copper |  |  | Iron Ore |  |  | Coal |  |  | Group and unallocated items/ eliminations |  |  | Group total |
Revenue |  |  | 3,895 |  |  |  | 15,726 |  |  |  | 34,475 |  |  |  | 5,154 |  |  |  | 1,567 |  |  |  | 60,817 |
Inter-segment revenue |  |  | 51 |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | (51 | ) |  |  | – |
Total revenue |  |  | 3,946 |  |  |  | 15,726 |  |  |  | 34,475 |  |  |  | 5,154 |  |  |  | 1,516 |  |  |  | 60,817 |
Underlying EBITDA |  |  | 2,300 |  |  |  | 8,489 |  |  |  | 26,278 |  |  |  | 288 |  |  |  | 24 |  |  |  | 37,379 |
Depreciation and amortisation |  |  | (1,739 | ) |  |  | (1,608 | ) |  |  | (1,971 | ) |  |  | (845 | ) |  |  | (661 | ) |  |  | (6,824 | )
Impairment losses (1) |  |  | (128 | ) |  |  | (72 | ) |  |  | (13 | ) |  |  | (20 | ) |  |  | (31 | ) |  |  | (264 | )
Underlying EBIT |  |  | 433 |  |  |  | 6,809 |  |  |  | 24,294 |  |  |  | (577 | ) |  |  | (668 | ) |  |  | 30,291 |
Exceptional items (2) |  |  | (47 | ) |  |  | (144 | ) |  |  | (1,319 | ) |  |  | (1,567 | ) |  |  | (1,308 | ) |  |  | (4,385 | )
Net finance costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,305 | )
Profit before taxation |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 24,601 |
Capital expenditure (cash basis) |  |  | 994 |  |  |  | 2,180 |  |  |  | 2,188 |  |  |  | 579 |  |  |  | 665 |  |  |  | 6,606 |
(Loss)/profit from equity accounted investments, related impairments and expenses |  |  | (6 | ) |  |  | 692 |  |  |  | (1,126 | ) |  |  | (480 | ) |  |  | (1 | ) |  |  | (921 | )
Investments accounted for using the equity method |  |  | 253 |  |  |  | 1,482 |  |  |  | – |  |  |  | – |  |  |  | 7 |  |  |  | 1,742 |
Total assets |  |  | 13,775 |  |  |  | 31,517 |  |  |  | 26,171 |  |  |  | 11,030 |  |  |  | 26,434 |  |  |  | 108,927 |
Total liabilities |  |  | 5,811 |  |  |  | 4,589 |  |  |  | 7,508 |  |  |  | 3,518 |  |  |  | 31,896 |  |  |  | 53,322 |
Year ended 30 June 2020 US$M Restated |  | Petroleum |  |  | Copper |  |  | Iron Ore |  |  | Coal |  |  | Group and unallocated items/ eliminations |  |  | Group total |
Revenue |  |  | 4,008 |  |  |  | 10,666 |  |  |  | 20,797 |  |  |  | 6,241 |  |  |  | 1,219 |  |  |  | 42,931 |
Inter-segment revenue |  |  | 62 |  |  |  | – |  |  |  | – |  |  |  | 1 |  |  |  | (63 | ) |  |  | – |
Total revenue |  |  | 4,070 |  |  |  | 10,666 |  |  |  | 20,797 |  |  |  | 6,242 |  |  |  | 1,156 |  |  |  | 42,931 |
Underlying EBITDA |  |  | 2,207 |  |  |  | 4,347 |  |  |  | 14,554 |  |  |  | 1,632 |  |  |  | (669 | ) |  |  | 22,071 |
Depreciation and amortisation |  |  | (1,445 | ) |  |  | (1,740 | ) |  |  | (1,608 | ) |  |  | (807 | ) |  |  | (512 | ) |  |  | (6,112 | )
Impairment losses (1) |  |  | (12 | ) |  |  | (17 | ) |  |  | (22 | ) |  |  | (14 | ) |  |  | (20 | ) |  |  | (85 | )
Underlying EBIT |  |  | 750 |  |  |  | 2,590 |  |  |  | 12,924 |  |  |  | 811 |  |  |  | (1,201 | ) |  |  | 15,874 |
Exceptional items (2) |  |  | (6 | ) |  |  | (1,228 | ) |  |  | (614 | ) |  |  | (18 | ) |  |  | 413 |  |  |  | (1,453 | )
Net finance costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (911 | )
Profit before taxation |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 13,510 |
Capital expenditure (cash basis) |  |  | 909 |  |  |  | 2,434 |  |  |  | 2,328 |  |  |  | 603 |  |  |  | 626 |  |  |  | 6,900 |
(Loss)/profit from equity accounted investments, related impairments and expenses |  |  | (4 | ) |  |  | 67 |  |  |  | (508 | ) |  |  | (68 | ) |  |  | 1 |  |  |  | (512 | )
Investments accounted for using the equity method |  |  | 245 |  |  |  | 1,558 |  |  |  | – |  |  |  | 776 |  |  |  | 6 |  |  |  | 2,585 |
Total assets (3) |  |  | 13,071 |  |  |  | 28,892 |  |  |  | 23,841 |  |  |  | 12,110 |  |  |  | 27,819 |  |  |  | 105,733 |
Total liabilities (3) |  |  | 4,824 |  |  |  | 3,535 |  |  |  | 5,441 |  |  |  | 2,601 |  |  |  | 37,157 |  |  |  | 53,558 |
Year ended 30 June 2019 US$M Restated |  | Petroleum |  |  | Copper |  |  | Iron Ore |  |  | Coal |  |  | Group and unallocated items/ eliminations |  |  | Group total |
Revenue |  |  | 5,853 |  |  |  | 10,838 |  |  |  | 17,251 |  |  |  | 9,121 |  |  |  | 1,225 |  |  |  | 44,288 |
Inter-segment revenue |  |  | 77 |  |  |  | – |  |  |  | 4 |  |  |  | – |  |  |  | (81 | ) |  |  | – |
Total revenue |  |  | 5,930 |  |  |  | 10,838 |  |  |  | 17,255 |  |  |  | 9,121 |  |  |  | 1,144 |  |  |  | 44,288 |
Underlying EBITDA |  |  | 4,061 |  |  |  | 4,550 |  |  |  | 11,129 |  |  |  | 4,067 |  |  |  | (649 | ) |  |  | 23,158 |
Depreciation and amortisatio n |  |  | (1,560 | ) |  |  | (1,835 | ) |  |  | (1,653 | ) |  |  | (632 | ) |  |  | (149 | ) |  |  | (5,829 | )
Impairment losses (1) |  |  | (21 | ) |  |  | (128 | ) |  |  | (79 | ) |  |  | (35 | ) |  |  | (1 | ) |  |  | (264 | )
Underlying EBIT |  |  | 2,480 |  |  |  | 2,587 |  |  |  | 9,397 |  |  |  | 3,400 |  |  |  | (799 | ) |  |  | 17,065 |
Exceptional items (2) |  |  | – |  |  |  | – |  |  |  | (971 | ) |  |  | – |  |  |  | 19 |  |  |  | (952 | )
Net finance costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,064 | )
Profit before taxation |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 15,049 |
Capital expenditure (cash basis) |  |  | 645 |  |  |  | 2,735 |  |  |  | 1,611 |  |  |  | 655 |  |  |  | 604 |  |  |  | 6,250 |
(Loss)/profit from equity accounted investments, related impairments and expenses |  |  | (2 | ) |  |  | 303 |  |  |  | (945 | ) |  |  | 103 |  |  |  | (5 | ) |  |  | (546 | )
Investments accounted for using the equity method |  |  | 239 |  |  |  | 1,472 |  |  |  | – |  |  |  | 853 |  |  |  | 5 |  |  |  | 2,569 |
Total assets (3) |  |  | 12,434 |  |  |  | 28,378 |  |  |  | 22,592 |  |  |  | 12,124 |  |  |  | 26,283 |  |  |  | 101,811 |
Total liabilities (3) |  |  | 4,102 |  |  |  | 3,340 |  |  |  | 5,106 |  |  |  | 2,450 |  |  |  | 35,060 |  |  |  | 50,058 |
(1) | Impairment losses exclude exceptional items of US$2,371 million (2020: US$409 million; 2019: US$ nil).
(2) | Exceptional items reported in Group and unallocated include Samarco dam failure costs of US$(14) million (2020: US$(32) million; 2019: US$(31) million) and Samarco related other income of US$34 million (2020: US$489 million; 2019: US$50 million). Refer to note 3 ‘Exceptional items’ for further information.
(3) | Total assets and total liabilities of FY2020 and FY2019 have been restated to reflect changes to the Group’s accounting policy. Refer to note 39 ‘New and amended accounting standards and interpretations and changes to accounting policies’ for further information.
Summary of Geographical Information | Geographical information
|  | Revenue by location of customer |
|  | 2021 |  |  | 2020 |  |  | 2019 |
|  | US$M |  |  | US$M |  |  | US$M |
Australia |  |  | 2,951 |  |  |  | 2,232 |  |  |  | 2,568 |
Europe |  |  | 1,050 |  |  |  | 1,156 |  |  |  | 1,875 |
China |  |  | 39,727 |  |  |  | 26,576 |  |  |  | 24,274 |
Japan |  |  | 4,808 |  |  |  | 3,904 |  |  |  | 4,193 |
India |  |  | 2,189 |  |  |  | 1,475 |  |  |  | 2,479 |
South Korea |  |  | 3,436 |  |  |  | 2,666 |  |  |  | 2,550 |
Rest of Asia |  |  | 3,603 |  |  |  | 2,583 |  |  |  | 2,940 |
North America |  |  | 2,432 |  |  |  | 1,827 |  |  |  | 2,442 |
South America |  |  | 426 |  |  |  | 315 |  |  |  | 662 |
Rest of world |  |  | 195 |  |  |  | 197 |  |  |  | 305 |
|  |  | 60,817 |  |  |  | 42,931 |  |  |  | 44,288 |
|  | Non-current assets by location of assets (1) |
|  | 2021 |  |  | 2020 |  |  | 2019 |
|  | US$M |  |  | US$M |  |  | US$M |
|  |  |  |  | Restated |  |  | Restated |
Australia |  |  | 48,612 |  |  |  | 48,236 |  |  |  | 45,963 |
North America |  |  | 9,701 |  |  |  | 9,682 |  |  |  | 8,633 |
South America |  |  | 18,548 |  |  |  | 18,179 |  |  |  | 18,404 |
Rest of world |  |  | 1,851 |  |  |  | 1,955 |  |  |  | 371 |
Unallocated assets (2) |  |  | 3,522 |  |  |  | 6,210 |  |  |  | 5,067 |
|  |  | 82,234 |  |  |  | 84,262 |  |  |  | 78,438 |
(1) | FY2020 and FY2019 have been restated to reflect changes to the Group’s accounting policy following a decision by the IFRS Interpretations Committee on IAS 12 ‘Income Taxes’, resulting in the retrospective recognition of US$950 million of Goodwill at Olympic Dam. Refer to note 39 ‘New and amended accounting standards and interpretations and changes to accounting policies’ for further information.
(2) | Unallocated assets comprise deferred tax assets and other financial assets.

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