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Exceptional items (Tables)
 12 Months Ended
Jun. 30, 2024
Statement [Line Items]  
Summary of Exceptional Items
Exceptional items are those gains or losses where their nature, including the expected frequency of the events giving rise to them, and impact is considered material to the Financial Statements. Such items included within the Group’s profit from Continuing operations for the year are detailed below. Exceptional items attributable to Discontinued operations are detailed in note 28 ‘Discontinued operations’.
 
Year ended 30 June 2024
   
Gross
    
Tax
    
Net
  
    
US$M
    
US$M
    
US$M
  
Exceptional items by category
       
Samarco dam failure
   
 
(3,677
) 
  
 
(85
) 
  
 
(3,762
) 
Impairment of Western Australia Nickel assets
   
 
(3,800
) 
  
 
1,125
 
  
 
(2,675
) 
Blackwater and Daunia gain on divestment
   
 
877
 
  
 
(203
) 
  
 
674
 
  
 
 
    
 
 
    
 
 
  
Total
   
 
(6,600
) 
  
 
837
 
  
 
(5,763
) 
  
 
 
    
 
 
    
 
 
  
Attributable to
non-controlling
interests
   
 
–
 
  
 
–
 
  
 
–
 
Attributable to BHP shareholders
   
 
(6,600
) 
  
 
837
 
  
 
(5,763
) 
  
 
 
    
 
 
    
 
 
  
30 June 2023
 
Year ended 30 June 2023
    Gross     Tax     Net  
     US$M     US$M     US$M  
Exceptional items by category
       
Samarco dam failure
      (340 )      17       (323 ) 
Chilean tax reform
      –       (283 )      (283 ) 
  
 
 
    
 
 
    
 
 
  
Total
      (340 )      (266 )      (606 ) 
  
 
 
    
 
 
    
 
 
  
Attributable to
non-controlling
interests
      –       (107 )      (107 ) 
Attributable to BHP shareholders
      (340 )      (159 )      (499 ) 
  
 
 
    
 
 
    
 
 
  
30 June 2022
 
Year ended 30 June 2022
    Gross     Tax     Net  
     US$M     US$M     US$M  
Exceptional items by category
       
Samarco dam failure
      (1,032 )      (31 )      (1,063 ) 
Impairment of US deferred tax assets
      –       (423 )      (423 ) 
Corporate structure unification costs
      (428 )      –       (428 ) 
BHP Mitsui Coal (BMC) gain on disposal
      840       –       840  
  
 
 
    
 
 
    
 
 
  
Total
      (620 )      (454 )      (1,074 ) 
  
 
 
    
 
 
    
 
 
  
Attributable to
non-controlling
interests
      –       –       –  
Attributable to BHP shareholders
      (620 )      (454 )      (1,074 ) 
  
 
 
    
 
 
    
 
 
  
Summary of Gain on Divestment Details of the gain on divestment is as follows:
 
   
US$M
  
Assets
   
Inventories
   
 
113
 
Property, plant and equipment
   
 
1,453
 
Intangible assets
   
 
45
 
Other
   
 
3
 
  
 
 
  
Total assets
   
 
1,614
 
  
 
 
  
Liabilities
   
Interest bearing liabilities
   
 
60
 
Other financial liabilities
   
 
43
 
Provisions
   
 
691
 
  
 
 
  
Total liabilities
   
 
794
 
  
 
 
  
Net assets disposed
   
 
820
 
  
 
 
  
Cash consideration – BHP share
   
 
1,072
 
Deferred and contingent consideration
1
   
 
690
 
Transaction and other directly attributable costs
   
 
(65
) 
Income tax expense
   
 
(203
) 
  
 
 
  
Gain on divestment
   
 
674
 
  
 
 
  
 
1
 
Includes the fair value of contingent payments based on 35% revenue share to BMA, subject to average realised prices achieved by the Assets exceeding thresholds of US$159/tonne in the
12
month period
12
months post completion, US$134/tonne in the
12
month period
24
months post completion and US$134/tonne in the
12
month period
36
months post completion.
Details of the gain on disposal is as follows:
    US$M  
BHP share of net assets disposed
      631  
  
 
 
  
Gross consideration
      1,318  
Transaction and other directly applicable costs
      (69 ) 
Income tax expense
      –  
Deferred consideration
      222  
  
 
 
  
Gain on disposal
      840  
  
 
 
  
Samarco dam failure [member]  
Statement [Line Items]  
Summary of Exceptional Items
The loss of US$3,762 million (after tax) relates to the Samarco dam failure, which occurred in November 2015, and comprises the following:
 
Year ended 30 June 2024
   
US$M
  
Expenses excluding net finance costs:
   
Costs incurred directly by BHP Brasil and other BHP entities in relation to the Samarco dam failure
     
(139
)
 
(Loss)/profit from equity accounted investments, related impairments and expenses:
   
Samarco dam failure provision
   
 
(2,833
) 
Fair value change on forward exchange derivatives
   
 
(199
) 
Net finance costs
   
 
(506
) 
Income tax expense
   
 
(85
)
  
 
 
  
Total
1
   
 
(3,762
) 
  
 
 
  
 
1
 
Refer to note 4 ‘Significant events – Samarco dam failure’ for further information.
The loss of US$323 million (after tax) related to the Samarco dam failure, which occurred in November 2015, and comprised the following:
 
Year ended 30 June 2023
    US$M  
Expenses excluding net finance costs:
   
Costs incurred directly by BHP Brasil and other BHP entities in relation to the Samarco dam failure
      (103 ) 
(Loss)/profit from equity accounted investments, related impairments and expenses:
   
Samarco dam failure provision
      (256 ) 
Fair value change on forward exchange derivatives
      471  
Net finance costs
      (452 ) 
Income tax benefit
      17  
  
 
 
  
Total
1
      (323 ) 
  
 
 
  
 
1
 
Refer to note 4 ‘Significant events – Samarco dam failure’ for further information.
The loss of US$1,063 million (after tax) related to the Samarco dam failure, which occurred in November 2015, and comprises the following:
 
Year ended 30 June 2022
    US$M  
Expenses excluding net finance costs:
   
Costs incurred directly by BHP Brasil and other BHP entities in relation to the Samarco dam failure
      (66 ) 
(Loss)/profit from equity accounted investments, related impairments and expenses:
   
Samarco dam failure provision
      (595 ) 
Fair value change on forward exchange derivatives
      (81 ) 
Net finance costs
      (290 ) 
Income tax expense
      (31 ) 
  
 
 
  
Total
1
      (1,063 ) 
  
 
 
  
 
1
 
Refer to note 4 ‘Significant events – Samarco dam failure’ for further information.