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Net finance costs (Tables)
 12 Months Ended
Jun. 30, 2023
Text block [abstract]  
Summary of Net Finance Costs
    
2023
     2022     2021  
    
US$M
     US$M     US$M  
Financial expenses
       
Interest expense using the effective interest rate method:
       
Interest on bank loans, overdrafts and all other borrowings
     
997
       491       607  
Interest capitalised at 5.71% (2022: 2.90%; 2021: 2.83%)
1
     
(271
)
 		     (113 )      (204 ) 
Interest on lease liabilities
     
130
       119       102  
Discounting on provisions and other liabilities
     
1,293
       645       353  
Other gains and losses:
       
Fair value change on hedged loans
     
(803
)
 		     (1,286 )      (779 ) 
Fair value change on hedging derivatives
     
691
       1,277       704  
Loss on bond repurchase
2
     
–
       –       395  
Exchange variations on net debt
     
9
       (99 )      99  
Other
     
14
       16       13  
  
 
 
    
 
 
    
 
 
  
Total financial expenses
     
2,060
       1,050       1,290  
  
 
 
    
 
 
    
 
 
  
Financial income
       
Interest income
     
(529
)
 		     (81 )      (67 ) 
  
 
 
    
 
 
    
 
 
  
Net finance costs
     
1,531
       969       1,223  
  
 
 
    
 
 
    
 
 
  
 
1
 
Interest has been capitalised at the rate of interest applicable to the specific borrowings financing the assets under construction or, where financed through general borrowings, at a capitalisation rate representing the average interest rate on such borrowings. Tax relief for capitalised interest is approximately US$81 million (2022: US$34 million; 2021: US$61 million).
 
2
 
Relates to the additional cost on settlement of two multi-currency hybrid debt repurchase programs and the unwind of the associated hedges, included in a total cash payment of US$3,402 million disclosed in repayment of interest bearing liabilities in the Consolidated Cash Flow Statement.