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v3.24.2.u1

Net finance costs (Tables) | 12 Months Ended
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Jun. 30, 2024
Text block 1 [Abstract] |
Summary of Net Finance Costs |
|  | 2024 |  |  | 2023 |  |  | 2022 |
|  | 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 |  |  | 1,467 |  |  |  | 997 |  |  |  | 491 |
Interest capitalised at 6.82% (2023: 5.71%; 2022: 2.90%) 1 |  |  | (530 | ) |  |  | (271 | ) |  |  | (113 | )
Interest on lease liabilities |  |  | 181 |  |  |  | 130 |  |  |  | 119 |
Discounting on provisions and other liabilities |  |  | 1,064 |  |  |  | 1,293 |  |  |  | 645 |
Other gains and losses: |  |  |  |  |  |  |  |  |  |  |  |
Fair value change on hedged loans |  |  | (214 | ) |  |  | (803 | ) |  |  | (1,286 | )
Fair value change on hedging derivatives |  |  | 188 |  |  |  | 691 |  |  |  | 1,277 |
Exchange variations on net debt |  |  | 27 |  |  |  | 9 |  |  |  | (99 | )
Other |  |  | 15 |  |  |  | 14 |  |  |  | 16 |
Total financial expenses |  |  | 2,198 |  |  |  | 2,060 |  |  |  | 1,050 |
Financial income |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  |  | (709 | ) |  |  | (529 | ) |  |  | (81 | )
Net finance costs |  |  | 1,489 |  |  |  | 1,531 |  |  |  | 969 |
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$159 million (2023: US$81 million; 2022: US$34 million).

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