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v3.24.2.u1

Other equity (Tables) | 12 Months Ended
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Jun. 30, 2024
Text block 1 [Abstract] |
Summary of Reserves |
|  | 2024 |  |  | 2023 |  |  | 2022 |  |  | Recognition and measurement
|  | US$M |  |  | US$M |  |  | US$M |  |  |
Common control reserve |  |  | (1,603 | ) |  |  | (1,603 | ) |  |  | (1,603 | ) |  | The common control reserve arose on unification of the Group’s corporate structure and represents the residual on consolidation between BHP Group Ltd’s investment in BHP Group Plc (now known as BHP Group (UK) Ltd) and BHP Group Plc’s share capital, share premium and capital redemption reserve at the time of unification.
Employee share awards reserve |  |  | 166 |  |  |  | 171 |  |  |  | 174 |  |  | The employee share awards reserve represents the accrued employee entitlements to share awards that have been charged to the income statement and have not yet been exercised. Once exercised, the difference between the accumulated fair value of the awards and their historical on-market purchase price is recognised in retained earnings.
Cash flow hedge reserve |  |  | 27 |  |  |  | 10 |  |  |  | 41 |  |  | The cash flow hedge reserve represents hedging gains and losses recognised on the effective portion of cash flow hedges. The cumulative deferred gain or loss on the hedge is recognised in the income statement when the hedged transaction impacts the income statement, or is recognised as an adjustment to the cost of non-financial hedged items. The hedging reserve records the portion of the gain or loss on a hedging instrument in a cash flow hedge that is determined to be an effective hedge relationship.
Cost of hedging reserve |  |  | (7 | ) |  |  | (1 | ) |  |  | (19 | ) |  | The cost of hedging reserve represents the recognition of certain costs of hedging for example, basis adjustments, which have been excluded from the hedging relationship and deferred in other comprehensive income until the hedged transaction impacts the income statement.
Foreign currency translation reserve |  |  | (14 | ) |  |  | (14 | ) |  |  | (14 | ) |  | The foreign currency translation reserve represents exchange differences arising from the translation of non-US dollar functional currency operations within the Group into US dollars.
Equity investments reserve |  |  | (21 | ) |  |  | 9 |  |  |  | (8 | ) |  | The equity investment reserve represents the revaluation of investments in shares recognised through other comprehensive income. Where a revalued financial asset is sold, the relevant portion of the reserve is transferred to retained earnings.
Non-controlling interest contribution reserve |  |  | 1,437 |  |  |  | 1,441 |  |  |  | 1,441 |  |  | The non-controlling interest contribution reserve represents the excess of consideration received over the book value of net assets attributable to equity instruments when acquired by non-controlling interests.
Total reserves |  |  | (15 | ) |  |  | 13 |  |  |  | 12 |  |  |
Summary of Financial Information Relating to Subsidiaries with Non-controlling Interests | Summarised financial information relating to each of the Group’s subsidiaries with non-controlling interests (NCI) that are significant to the Group is shown below:
|  | 2024 |  |  | 2023 |
US$M |  | Minera Escondida Limitada |  |  | Other individually immaterial subsidiaries |  |  | Total |  |  | Minera Escondida Limitada |  |  | Other individually immaterial subsidiaries |  |  | Total |
Group share (per cent) |  |  | 57.5 |  |  |  |  |  |  |  |  |  |  |  | 57.5 |  |  |  |  |  |  |  |  |
Current assets |  |  | 3,683 |  |  |  |  |  |  |  |  |  |  |  | 3,144 |  |  |  |  |  |  |  |  |
Non-current assets |  |  | 12,639 |  |  |  |  |  |  |  |  |  |  |  | 12,160 |  |  |  |  |  |  |  |  |
Current liabilities |  |  | (2,484 | ) |  |  |  |  |  |  |  |  |  |  | (1,598 | ) |  |  |  |  |  |  |  |
Non-current liabilities |  |  | (4,989 | ) |  |  |  |  |  |  |  |  |  |  | (5,413 | ) |  |  |  |  |  |  |  |
Net assets |  |  | 8,849 |  |  |  |  |  |  |  |  |  |  |  | 8,293 |  |  |  |  |  |  |  |  |
Net assets attributable to NCI |  |  | 3,761 |  |  |  | 548 |  |  |  | 4,309 |  |  |  | 3,525 |  |  |  | 509 |  |  |  | 4,034 |
Revenue |  |  | 10,013 |  |  |  |  |  |  |  |  |  |  |  | 8,847 |  |  |  |  |  |  |  |  |
Profit after taxation |  |  | 2,894 |  |  |  |  |  |  |  |  |  |  |  | 2,365 |  |  |  |  |  |  |  |  |
Other comprehensive income |  |  | 13 |  |  |  |  |  |  |  |  |  |  |  | (8 | ) |  |  |  |  |  |  |  |
Total comprehensive income |  |  | 2,907 |  |  |  |  |  |  |  |  |  |  |  | 2,357 |  |  |  |  |  |  |  |  |
Profit after taxation attributable to NCI |  |  | 1,230 |  |  |  | 474 |  |  |  | 1,704 |  |  |  | 1,005 |  |  |  | 398 |  |  |  | 1,403 |
Other comprehensive income attributable to NCI |  |  | 6 |  |  |  | (2 | ) |  |  | 4 |  |  |  | (3 | ) |  |  | – |  |  |  | (3 | )
Net operating cash flow |  |  | 4,180 |  |  |  |  |  |  |  |  |  |  |  | 3,168 |  |  |  |  |  |  |  |  |
Net investing cash flow |  |  | (1,806 | ) |  |  |  |  |  |  |  |  |  |  | (1,351 | ) |  |  |  |  |  |  |  |
Net financing cash flow |  |  | (2,415 | ) |  |  |  |  |  |  |  |  |  |  | (1,620 | ) |  |  |  |  |  |  |  |
Dividends paid to NCI |  |  | 993 |  |  |  | 431 |  |  |  | 1,424 |  |  |  | 712 |  |  |  | 463 |  |  |  | 1,175 |

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