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Provisions (Tables)
 12 Months Ended
Jun. 30, 2023
Provision for dividends and other liabilities [member]  
Statement [Line Items]  
Summary of Provisions
The disclosure below excludes closure and r
e
habilitation provisions (refer to note 15 ‘Closure and rehabilitation provisions’), employee benefits, restructuring and post-retirement employee benefits provisions (refer to note 27 ‘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’).
 
    
2023
     2022  
    
US$M
    
US$M
  
At the beginning of the financial year
     
674
       581  
Acquisition of subsidiaries and operations
1
     
61
       –  
Dividends determined
     
13,420
       17,720  
Charge/(credit) for the year:
     
Underlying
     
156
       493  
Discounting
     
2
       1  
Exchange variations
     
(161
)
 		     122  
Released during the year
     
(62
)
 		     (48 ) 
Utilisation
     
(35
)
 		     (96 ) 
Dividends paid
     
(13,268
)
 		     (17,851 ) 
Divestment and demerger of subsidiaries and operations
     
–
       (146 ) 
Transfers and other movements
     
(18
)
 		     (102 ) 
  
 
 
    
 
 
  
At the end of the financial year
     
769
       674  
  
 
 
    
 
 
  
Comprising:
     
Current
     
384
       356  
Non-current
     
385
       318  
  
 
 
    
 
 
  
1
 
Relates to the acquisition of OZL on 2 May 2023. Refer to note 29 ‘Business combinations’ for more information.
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 2023 are shown in the tables below and have been treated as an exceptional item.
 
Financial impacts of Samarco dam failure
   
2023
     2022     2021  
    
US$M
     US$M     US$M  
Income statement
                         
Other income
1
   
 
–
 
     –       34  
Expenses excluding net finance costs:
                         
Costs incurred directly by BHP Brasil and other BHP entities in relation to the Samarco dam failure
2
   
 
(103
) 
     (66 )      (46 ) 
Profit/(loss) from equity accounted investments, related impairments and expenses:
                         
Samarco impairment expense
3
   
 
–
 
     –       (111 ) 
Samarco dam failure provision
4
   
 
(256
) 
     (595 )      (1,015 ) 
Fair value change on forward exchange derivatives
5
   
 
471
 
     (81 )      136  
    
 
 
    
 
 
    
 
 
  
Profit/(loss) from operations
   
 
112
 
     (742 )      (1,002 ) 
Net finance costs
6
   
 
(452
) 
     (290 )      (85 ) 
    
 
 
    
 
 
    
 
 
  
Loss before taxation
   
 
(340
) 
     (1,032 )      (1,087 ) 
Income tax benefit/(expense)
7
   
 
17
 
     (31 )      (71 ) 
    
 
 
    
 
 
    
 
 
  
Loss after taxation
   
 
(323
) 
     (1,063 )      (1,158 ) 
    
 
 
    
 
 
    
 
 
  
Balance sheet movement
                         
Trade and other payables
   
 
(6
) 
     (1 )      (5 ) 
Derivatives
   
 
337
 
     (160 )      136  
Tax liabilities
   
 
17
 
     (31 )      (71 ) 
Provisions
   
 
(260
) 
     (629 )      (741 ) 
    
 
 
    
 
 
    
 
 
  
Net decrease/(increase) in liabilities
   
 
88
 
     (821 )      (681 ) 
    
 
 
    
 
 
    
 
 
  
 
          
2023
            2022           2021  
          
US$M
            US$M           US$M  
Cash flow statement
              
Loss before taxation
   
 
            
 
  
 
(340
) 
        (1,032 )        (1,087 ) 
Adjustments for:
              
Samarco impairment expense
3
   
 
–
 
       –          111    
Samarco dam failure provision
4
   
 
256
 
       595          1,015    
Fair value change on forward exchange derivatives
5
   
 
(471
) 
       81          (136 )   
Proceeds of cash management related instruments
   
 
134
 
       79          –    
Net finance costs
6
   
 
452
 
       290          85    
Changes in assets and liabilities:
              
Trade and other payables
   
 
6
 
       1          5    
    
 
 
       
 
 
      
 
 
  
Net operating cash flows
     
 
37
 
        14         (7 ) 
    
 
 
       
 
 
      
 
 
  
Net investment and funding of equity accounted investments
8
     
 
(448
) 
        (256 )        (470 ) 
    
 
 
       
 
 
      
 
 
  
Net investing cash flows
     
 
(448
) 
        (256 )        (470 ) 
    
 
 
       
 
 
      
 
 
  
Net decrease in cash and cash equivalents
     
 
(411
) 
        (242 )        (477 ) 
    
 
 
       
 
 
      
 
 
  
 
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$(33) million (2022: US$691 million; 2021: US$836 million) change in estimate and US$289 million (2022: US$(96) million; 2021: US$179 million) exchange translation.
 
5
 
The Group enters into forward exchange contracts to limit the Brazilian reais exposure on the dam failure provision. While not applying hedge accounting, the fair value changes in the forward exchange instruments are recorded within Profit/(loss) from equity accounted investments, related impairments and expenses in the Income Statement.
 
6
 
Amortisation of discounting of provision.
 
7
 
Includes tax on forward exchange derivatives and other taxes incurred during the period.
 
8
 
Includes US$ nil (2022: US$ nil; 2021: US$(111) million) funding provided during the period and US$(448) million (2022: US$(256) million; 2021: US$(359) million) utilisation of the Samarco dam failure provision.
Summary of Provisions
Provision related to the Samarco dam failure
 
          
2023
            2022  
          
US$M
            US$M  
At the beginning of the financial year
   
 
            
 
  
 
3,421
 
              2,792  
Movement in provision
           
 
260
 
              629  
Comprising:
                                  
Utilised
   
 
(448
) 
              (256 )         
Adjustments charged to the income statement:
                                  
Change in cost estimate
   
 
(33
) 
              691          
Amortisation of discounting impacting net finance costs
   
 
452
 
              290          
Exchange translation
   
 
289
 
              (96 )         
            
 
 
             
 
 
  
At the end of the financial year
           
 
3,681
 
              3,421  
            
 
 
             
 
 
  
Comprising:
                                  
Current
           
 
1,876
 
              1,815  
Non-current
           
 
1,805
 
              1,606  
            
 
 
             
 
 
  
At the end of the financial year
           
 
3,681
 
              3,421