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Financial risk management - Fair values (Tables)

6 Months Ended

Dec. 31, 2022

Text block [abstract]

Summary of Financial Assets and Liabilities by Class

The financial assets and liabilities are presented by class in the table below at their carrying amounts.


		IFRS 13 Fair value hierarchy Level 1		IFRS 9 Classification		31 Dec 2022 US$M				30 June 2022 US$M
Current cross currency and interest rate swaps 2		2		Fair value through profit or loss			–				–
Current other derivative contracts		2		Fair value through profit or loss			146				326
Current other financial assets		–		Amortised cost			–				100
Current other investments 3		1,2		Fair value through profit or loss			329				203
Non-current cross currency and interest rate swaps 2		2		Fair value through profit or loss			167				136
Non-current other derivative contracts		2		Fair value through profit or loss			26				16
Non-current other financial assets 4		3		Fair value through profit or loss			238				273
Non-current investment in shares		1,3		Fair value through other comprehensive income			178				138
Non-current other investments 3		1,2		Fair value through profit or loss			261				239

Total other financial assets							1,345				1,431
Cash and cash equivalents				Amortised cost			9,605				17,236
Trade and other receivables 5				Amortised cost			1,293				1,674
Provisionally priced trade receivables		2		Fair value through profit or loss			2,960				3,478

Total financial assets							15,203				23,819

Non-financial assets							72,621				71,347

Total assets							87,824				95,166

Current cross currency and interest rate swaps 2		2		Fair value through profit or loss			205				358
Current other derivative contracts		2		Fair value through profit or loss			101				118
Current other financial liabilities 6				Amortised cost			70				103
Non-current cross currency and interest rate swaps 2		2		Fair value through profit or loss			2,025				1,466
Non-current other derivative contracts		2		Fair value through profit or loss			38				31
Non-current other financial liabilities 6				Amortised cost			435				500

Total other financial liabilities							2,874				2,576
Trade and other payables 7				Amortised cost			4,149				5,223
Provisionally priced trade payables		2		Fair value through profit or loss			652				1,385
Bank loans 8				Amortised cost			2,460				2,472
Notes and debentures 8				Amortised cost			9,546				11,363
Lease liabilities							2,694				2,576
Other 8				Amortised cost			1				17

Total financial liabilities							22,376				25,612

Non-financial liabilities							18,896				20,788

Total liabi lities							41,272				46,400

1	All of the Group’s financial assets and financial liabilities recognised at fair value were valued using market observable inputs categorised as Level 2 unless specified otherwise in the following footnotes.

2	Cross currency and interest rate swaps are valued using market data including interest rate curves and foreign exchange rates. A discounted cash flow approach is used to derive the fair value of cross currency and interest rate swaps at the reporting date.

3	Includes investments held by BHP Foundation which are restricted and not available for general use by the Group of US$277 million (30 June 2022: US $252 million) of which other investments (mainly US Treasury Notes) of US$135 million is categorised as Level 1 (30 June 2022: US$119 million).

4	Includes receivables contingent on outcome of future events relating to mining and regulatory approvals of US$238 million (30 June 2022: $233 million) .

5	Excludes input taxes of US$412 million (30 June 2022: US$427 million) included in other receivables.

6	Includes the discounted settlement liability in relation to the cancellation of power contracts at the Group’s Escondida operations.

7	Excludes input taxes of US$81 million (30 June 2022: US$79 million) included in other payables.

8	All interest bearing liabilities, excluding lease liabilities, are unsecured.