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v3.24.2.u1

Net debt (Tables) | 12 Months Ended
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Jun. 30, 2024
Statement [Line Items] |
Summary of Net Debt Balance and Gearing Ratio |
|  | 2024 |  |  | 2023 |
US$M |  | Current |  |  | Non-current |  |  | Current |  |  | Non-current |
Interest bearing liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Bank loans |  |  | 540 |  |  |  | 2,070 |  |  |  | 5,310 |  |  |  | 2,192 |
Notes and debentures |  |  | 848 |  |  |  | 14,084 |  |  |  | 1,337 |  |  |  | 10,482 |
Lease liabilities |  |  | 686 |  |  |  | 2,430 |  |  |  | 521 |  |  |  | 2,498 |
Bank overdraft and short-term borrowings |  |  | 3 |  |  |  | – |  |  |  | 5 |  |  |  | – |
Other |  |  | 7 |  |  |  | 50 |  |  |  | – |  |  |  | – |
Total interest bearing liabilities |  |  | 2,084 |  |  |  | 18,634 |  |  |  | 7,173 |  |  |  | 15,172 |
Less: Lease liability associated with index-linked freight contracts |  |  | 267 |  |  |  | 244 |  |  |  | 114 |  |  |  | 173 |
Less: Cash and cash equivalents |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash |  |  | 8,150 |  |  |  | – |  |  |  | 7,206 |  |  |  | – |
Short-term deposits |  |  | 4,351 |  |  |  | – |  |  |  | 5,222 |  |  |  | – |
Less: Total cash and cash equivalents |  |  | 12,501 |  |  |  | – |  |  |  | 12,428 |  |  |  | – |
Less: Derivatives included in net debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net debt management related instruments 1 |  |  | (171 | ) |  |  | (1,224 | ) |  |  | (113 | ) |  |  | (1,459 | )
Net cash management related instruments 2 |  |  | (19 | ) |  |  | – |  |  |  | 36 |  |  |  | – |
Less: Total derivatives included in net debt |  |  | (190 | ) |  |  | (1,224 | ) |  |  | (77 | ) |  |  | (1,459 | )
Net debt |  |  |  |  |  |  | 9,120 |  |  |  |  |  |  |  | 11,166 |
Net assets |  |  |  |  |  |  | 49,120 |  |  |  |  |  |  |  | 48,530 |
Gearing |  |  |  |  |  |  | 15.7 | % |  |  |  |  |  |  | 18.7 | %
1 | Represents the net cross currency and interest rate swaps designated as effective hedging instruments included within current and non-current other financial assets and liabilities.
2 | Represents the net forward exchange contracts included within current and non-current other financial assets and liabilities.
Summary of Cash and Cash Equivalents, Net of Overdrafts | Cash and short-term deposits are disclosed in the cash flow statement net of bank overdrafts and interest bearing liabilities at call.
|  | 2024 |  |  | 2023 |  |  | 2022 |
|  | US$M |  |  | US$M |  |  | US$M |
Total cash and cash equivalents |  |  | 12,501 |  |  |  | 12,428 |  |  |  | 17,236 |
Bank overdrafts and short-term borrowings |  |  | (3 | ) |  |  | (5 | ) |  |  | – |
Total cash and cash equivalents, net of overdrafts |  |  | 12,498 |  |  |  | 12,423 |  |  |  | 17,236 |
Summary of Maturity Profile of Financial Liabilities Based on the Contractual Amounts | The maturity profile of the Group’s financial liabilities based on the undiscounted contractual amounts, taking into account the derivatives related to debt, is as follows:
2024 US$M |  | Bank loans, debentures and other loans |  |  | Expected future interest payments |  |  | Derivatives related to debentures |  |  | Other financial liabilities |  |  | Obligations under lease liabilities |  |  | Trade and other payables 1 |  |  | Total |
Due for payment: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
In one year or less or on demand |  |  | 1,402 |  |  |  | 884 |  |  |  | 485 |  |  |  | 333 |  |  |  | 836 |  |  |  | 6,618 |  |  |  | 10,558 |
In more than one year but not more than two years |  |  | 1,362 |  |  |  | 827 |  |  |  | 171 |  |  |  | 67 |  |  |  | 591 |  |  |  | 15 |  |  |  | 3,033 |
In more than two years but not more than five years |  |  | 4,960 |  |  |  | 1,923 |  |  |  | 377 |  |  |  | 233 |  |  |  | 1,012 |  |  |  | 27 |  |  |  | 8,532 |
In more than five years |  |  | 10,999 |  |  |  | 4,784 |  |  |  | 1,131 |  |  |  | 163 |  |  |  | 1,761 |  |  |  | 3 |  |  |  | 18,841 |
Total |  |  | 18,723 |  |  |  | 8,418 |  |  |  | 2,164 |  |  |  | 796 |  |  |  | 4,200 |  |  |  | 6,663 |  |  |  | 40,964 |
Carrying amount |  |  | 17,602 |  |  |  | – |  |  |  | 1,513 |  |  |  | 758 |  |  |  | 3,116 |  |  |  | 6,663 |  |  |  | 29,652 |
2023 US$M |  | Bank loans, debentures and other loans |  |  | Expected future interest payments |  |  | Derivatives related to debentures |  |  | Other financial liabilities |  |  | Obligations under lease liabilities |  |  | Trade and other payables 1 |  |  | Total |
Due for payment: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
In one year or less or on demand |  |  | 6,659 |  |  |  | 757 |  |  |  | 536 |  |  |  | 257 |  |  |  | 658 |  |  |  | 6,175 |  |  |  | 15,042 |
In more than one year but not more than two years |  |  | 1,399 |  |  |  | 595 |  |  |  | 388 |  |  |  | 126 |  |  |  | 538 |  |  |  | 4 |  |  |  | 3,050 |
In more than two years but not more than five years |  |  | 4,058 |  |  |  | 1,410 |  |  |  | 399 |  |  |  | 267 |  |  |  | 1,031 |  |  |  | – |  |  |  | 7,165 |
In more than five years |  |  | 8,093 |  |  |  | 3,693 |  |  |  | 1,020 |  |  |  | 211 |  |  |  | 1,846 |  |  |  | – |  |  |  | 14,863 |
Total |  |  | 20,209 |  |  |  | 6,455 |  |  |  | 2,343 |  |  |  | 861 |  |  |  | 4,073 |  |  |  | 6,179 |  |  |  | 40,120 |
Carrying amount |  |  | 19,326 |  |  |  | – |  |  |  | 1,755 |  |  |  | 804 |  |  |  | 3,019 |  |  |  | 6,179 |  |  |  | 31,083 |
1 | Excludes input taxes of US$101 million (2023: US$121 million) included in other payables.
Currency risk [member] |
Statement [Line Items] |
Summary of Interest Bearing Liabilities and Cash and Cash Equivalents Denominated by Currency | Interest bearing liabilities and cash and cash equivalents include balances denominated in the following currencies:
|  | Interest bearing liabilities |  |  | Cash and cash equivalents |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
|  | US$M |  |  | US$M |  |  | US$M |  |  | US$M |
USD |  |  | 15,203 |  |  |  | 16,289 |  |  |  | 4,445 |  |  |  | 5,925 |
EUR |  |  | 2,440 |  |  |  | 3,050 |  |  |  | 5 |  |  |  | 544 |
GBP |  |  | 1,613 |  |  |  | 1,587 |  |  |  | 711 |  |  |  | 674 |
AUD |  |  | 1,265 |  |  |  | 1,233 |  |  |  | 3,840 |  |  |  | 1,797 |
CAD |  |  | 5 |  |  |  | 7 |  |  |  | 3,259 |  |  |  | 3,362 |
Other |  |  | 192 |  |  |  | 179 |  |  |  | 241 |  |  |  | 126 |
Total |  |  | 20,718 |  |  |  | 22,345 |  |  |  | 12,501 |  |  |  | 12,428 |

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