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Other equity
 12 Months Ended
Jun. 30, 2023
Text block [abstract]  
Other equity
18    Other equity
 
    
2023
     2022     2021    
Recognition and measurement
    
US$M
    
US$M
    
US$M
      
Share premium account
   
 
–
 
     –       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     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 reserve
   
 
(1,603
) 
     (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 (now known as BHP Group (UK) Ltd) and BHP Group Plc’s share capital, share premium and capital redemption reserve at the time of unification.
Employee share awards reserve
   
 
171
 
     174       268    
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
   
 
10
 
     41       100     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
   
 
(1
) 
     (19 )      (54 )    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
) 
     (14 )      43     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
   
 
9
 
     (8 )      15     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
 
     1,441       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
   
 
13
 
     12       2,350      
    
 
 
    
 
 
    
 
 
      
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:
 
    
2023
     2022  
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
     
3,144
                        2,929                   
Non-current assets
     
12,160
                        11,636                   
Current liabilities
     
(1,598
)
 		                      (2,192 )                  
Non-current liabilities
     
(5,413
)
 		                      (4,762 )                  
    
 
 
                     
 
 
                   
Net assets
     
8,293
                        7,611                   
    
 
 
    
 
 
     
 
 
    
 
 
    
 
 
     
 
 
  
Net assets attributable to NCI
     
3,525
      
509
       
4,034
       3,235       574        3,809  
    
 
 
    
 
 
     
 
 
    
 
 
    
 
 
     
 
 
  
Revenue
     
8,847
                        9,500                   
Profit after taxation
     
2,365
                        3,522                   
Other comprehensive income
     
(8
)
 		                      11                   
    
 
 
                     
 
 
                   
Total comprehensive income
     
2,357
                        3,533                   
    
 
 
    
 
 
     
 
 
    
 
 
    
 
 
     
 
 
  
Profit after taxation attributable to NCI
     
1,005
      
398
       
1,403
       1,497       658        2,155  
Other comprehensive income attributable to NCI
     
(3
)
 		    
–
       
(3
)
 		     5       –        5  
    
 
 
    
 
 
     
 
 
    
 
 
    
 
 
     
 
 
  
Net operating cash flow
     
3,168
                        4,519                   
Net investing cash flow
     
(1,351
)
 		                      (860 )                  
Net financing cash flow
     
(1,620
)
 		                      (4,029 )                  
    
 
 
    
 
 
     
 
 
    
 
 
    
 
 
     
 
 
  
Dividends paid to NCI
     
712
      
463
       
1,175
       1,760       780        2,540  
    
 
 
    
 
 
     
 
 
    
 
 
    
 
 
     
 
 
  
 
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 Escond
id
a 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.