XML 90 R23.htm IDEA: XBRL DOCUMENT v3.22.2.2
Other equity
 12 Months Ended
Jun. 30, 2022
Text block [abstract]  
Other equity
17    Other equity
 
 
  
2022
 
 
2021
 
 
2020
 
 
Recognition and measurement
 
  
US$M
 
 
US$M
 
 
US$M
 
 
 
Share premium account
   
 
–
 
      518       518     The share premium account represented the premium paid on the issue of BHP Group Plc shares recognised in accordance with the UK Companies Act 2006.
It was transferred to the common control reserve as part of the unification of
the
Group’s
corporate structure.
Capital redemption reserve
   
 
–
 
      177       177     The capital redemption reserve represented the par value of BHP Group Plc
shares that were purchased and subsequently cancelled. It was transferred to the common control reserve as part of unification of the
Group’s
corporate
structure.
Common control reserves
   
 
(1,603
)
      –       –    
The common control reserve arose on unification of the Group’s corporate structure and represents the residual on consolidation between BHP Group
Ltd’s investment in BHP Group Plc’s and BHP Group Plc’s share capital, share premium and capital redemption reserve at the time of unification.
Employee share awards reserve
   
 
174
 
      268       246    
The employee share awards reserve represents the accrued employee
entitlements to share awards that have been charged to the income statement
and have not yet been exercised.
Once exercised, the difference between the accumulated fair value of the
awards and their historical
on-market
purchase price is recognised in retained
earnings.
Cash flow hedge reserve
   
 
41
 
      100       50     The cash flow hedge reserve represents hedging gains and losses recognised on the effective portion of cash flow hedges. The cumulative deferred gain or loss
on the hedge is recognised in the income statement when the hedged
transaction impacts the income statement, or is recognised as an adjustment to
the cost of
non-financial
hedged items. The hedging reserve records the portion of the gain or loss on a hedging instrument in a cash flow hedge that is
determined to be an effective hedge relationship.
Cost of hedging reserve
   
 
(19
)
      (54 )      (23 )    The cost of hedging reserve represents the recognition of certain costs of
hedging for example, basis adjustments, which have been excluded from the hedging relationship and deferred in other comprehensive income until the hedged transaction impacts the income statement.
Foreign currency translation reserve
   
 
(14
)
 
      43       39     The foreign currency translation reserve represents exchange differences
arising from the translation of
non-US
dollar functional currency operations
within the Group into US dollars.
Equity investments reserve
   
 
(8
)
      15       16     The equity investment reserve represents the revaluation of investments in
shares recognised through other comprehensive income. Where a revalued financial asset is sold, the relevant portion of the reserve is transferred to
retained earnings.
Non-controlling
interest contribution reserve
   
 
1,441
 
      1,283       1,283     The
non-controlling
interest contribution reserve represents the excess of consideration received over the book value of net assets attributable to equity instruments when acquired by
non-controlling
interests.
    
 
 
     
 
 
    
 
 
      
Total reserves
   
 
12
 
      2,350       2,306      
    
 
 
     
 
 
    
 
 
      
 
Summarised financial information relating to each of the Group’s subsidiaries with
non-controlling
interests (NCI) that are material to the Group before any intra-group eliminations is shown below:
 
 
  
2022
 
  
2021
 
US$M
  
Minera
Escondida
Limitada
 
 
Other
individually
immaterial
subsidiaries
(incl. intra

-group
eliminations)
 
  
Total
 
  
Minera
Escondida
Limitada
 
 
Other
individually
immaterial
subsidiaries
(incl. intra
-group
eliminations)
 
  
Total
 
Group share (per cent)
   
 
57.5
 
   
 
  
 
   
 
  
 
      57.5                   
    
 
 
                       
 
 
                   
Current assets
   
 
2,929
 
   
 
  
 
   
 
  
 
      2,996                   
Non-current
assets
   
 
11,636
 
   
 
  
 
   
 
  
 
      11,867                   
Current liabilities
   
 
(2,192
)
   
 
  
 
   
 
  
 
      (1,912 )                  
Non-current
liabilities
   
 
(4,762
)
   
 
  
 
   
 
  
 
      (4,733 )                  
    
 
 
     
 
 
     
 
 
     
 
 
    
 
 
     
 
 
  
Net assets
   
 
7,611
 
   
 
  
 
   
 
  
 
      8,218                   
    
 
 
     
 
 
     
 
 
     
 
 
    
 
 
     
 
 
  
Net assets attributable to NCI
   
 
3,235
 
   
 
574
 
   
 
3,809
 
      3,493       848        4,341  
    
 
 
     
 
 
     
 
 
     
 
 
    
 
 
     
 
 
  
Revenue
   
 
9,500
 
   
 
  
 
   
 
  
 
      9,470                   
Profit after taxation
   
 
3,522
 
   
 
  
 
   
 
  
 
      3,605                   
Other comprehensive income
   
 
11
 
   
 
  
 
   
 
  
 
      27                   
    
 
 
     
 
 
     
 
 
     
 
 
    
 
 
     
 
 
  
Total comprehensive income
   
 
3,533
 
   
 
  
 
   
 
  
 
      3,632                   
    
 
 
     
 
 
     
 
 
     
 
 
    
 
 
     
 
 
  
Profit after taxation attributable to NCI
   
 
1,497
 
   
 
658
 
   
 
2,155
 
      1,532       615        2,147  
Other comprehensive income attributable to NCI
   
 
5
 
   
 
–
 
   
 
5
 
      11       –        11  
    
 
 
     
 
 
     
 
 
     
 
 
    
 
 
     
 
 
  
Net operating cash flow
   
 
4,519
 
   
 
  
 
   
 
  
 
      5,007                   
Net investing cash flow
   
 
(860
)
   
 
  
 
   
 
  
 
      (655 )                  
Net financing cash flow
   
 
(4,029
)
 
   
 
  
 
   
 
  
 
      (4,001 )                  
    
 
 
     
 
 
     
 
 
     
 
 
    
 
 
     
 
 
  
Dividends paid to NCI
   
 
1,760
 
   
 
780
 
   
 
2,540
 
      1,590       537        2,127  
    
 
 
     
 
 
     
 
 
     
 
 
    
 
 
     
 
 
  
While the Group controls Minera Escondida Limitada, the
non-controlling
interests hold certain protective rights that restrict the Group’s ability to sell assets held by Minera Escondida Limitada, or use the assets in other subsidiaries and operations owned by the Group. Minera Escondida Limitada is also restricted from paying dividends without the approval of the
non-controlling
interests.