Unless otherwise noted, the segment reporting information for the year ended 30 June 2019 excludes Discontinued operations, being the Petroleum Onshore US operations comprising the Eagle Ford, Haynesville, Permian and Fayetteville oil and gas assets.

Group and unallocated items includes functions, other unallocated operations including Potash, Nickel West and legacy assets, and consolidation adjustments. Revenue not attributable to reportable segments comprises the sale of freight and fuel to third-parties, as well as revenues from unallocated operations. Exploration and technology activities are recognised within relevant segments.

Total assets and total liabilities for 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/AASB 112 ‘Income Taxes’ (IAS 12), resulting in the retrospective recognition of US$950 million of Goodwill at Olympic Dam (included in the Copper Segment) and an offsetting US$1,021 million increase in Deferred tax liabilities (included in Group and unallocated). Refer to note 39 ‘New and amended accounting standards and interpretations and changes to accounting policies’ for further information.


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.

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.

Underlying EBITDA

Underlying EBITDA is earnings before net finance costs, depreciation, amortisation and impairments, taxation expense, Discontinued operations and any exceptional items. Underlying EBITDA includes BHP’s share of profit/(loss) from investments accounted for using the equity method including net finance costs, depreciation, amortisation and impairments and taxation expense/(benefit).

Exceptional items are excluded from Underlying EBITDA in order to enhance the comparability of such measures from

period-to-period

and provide investors with further clarity in order to assess the performance of the Group’s operations. Management monitors exceptional items separately. Refer to note 3 ‘Exceptional items’ for additional detail.

Segment assets and liabilities

Total segment assets and liabilities of reportable segments represents operating assets and operating liabilities, including the carrying amount of equity accounted investments and predominantly excludes cash balances, loans to associates, interest bearing liabilities and deferred tax balances. The carrying value of investments accounted for using the equity method represents the balance of the Group’s investment in equity accounted investments, with no adjustment for any cash balances, interest bearing liabilities or deferred tax balances of the equity accounted investment.