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Other Financial Assets and Liabilities (Tables)
 12 Months Ended
Dec. 31, 2023
Text Block [abstract]  
Summary of information about other financial assets and liabilities
 
 
 
 
 
 
 
 
 
    
2023
   US$m
     
2022
   US$m
  
 
  
Other financial assets
                  
Financial instruments at fair value through profit and loss
                  
Derivative financial instruments designated as hedges
   
 
248
 
   
 
207
 
Other financial assets
   
 
53
 
   
 
22
 
Financial instruments at amortised cost
                  
Hedge collateral (including interest)
   
 
-
 
   
 
509
 
Other financial assets
   
 
-
 
   
 
30
 
Financial instruments at fair value through other comprehensive income
                  
Other financial assets
   
 
28
 
   
 
29
 
 
  
Total other financial assets
   
 
329
 
   
 
797
 
 
  
Current
   
 
209
 
   
 
677
 
Non-current
   
 
120
 
   
 
120
 
 
  
Net carrying amount
   
 
329
 
   
 
797
 
 
  
Other financial liabilities
                  
Financial instruments at fair value through profit and loss
                  
Derivative financial instruments designated as hedges
   
 
74
 
   
 
721
 
Embedded derivative
   
 
35
 
   
 
-
 
 
  
Total other financial liabilities
   
 
109
 
   
 
721
 
 
  
Current
   
 
67
 
   
 
654
 
Non-current
   
 
42
 
   
 
67
 
 
  
Net carrying amount
   
 
109
 
   
 
721
 
 
  
Summary of detailed information about hedging activities
 
 
 
 
 
 
 
 
 
     
         2023
    
2022
  
Oil swaps (cash flow hedges)
                 
Carrying amount (US$m)
   
 
(14)
 
  
 
(114
) 
Notional amount (MMbbl)
1
   
 
29
 
  
 
18
 
Maturity date
   
 
2024
 
  
 
2023
 
Hedge ratio
   
 
1:1
 
  
 
1:1
 
Weighted average hedged rate (US$/MMbbl)
   
 
76
 
  
 
79
 
HH Corpus Christi commodity swaps (cash flow hedges)
                 
Carrying amount (US$m)
   
 
(44)
 
  
 
26
 
Notional amount (TBtu)
1
   
 
38
 
  
 
58
 
Maturity date
   
 
2024-2025
 
  
 
2023-2024
 
Hedge ratio
   
 
1:1
 
  
 
1:1
 
Weighted average hedged rate (US$/MMBtu)
   
 
4
 
  
 
4
 
TTF Corpus Christi commodity swaps (cash flow hedges)
                 
Carrying amount (US$m)
   
 
181
 
  
 
(469
) 
Notional amount (TBtu)
1
   
 
32
 
  
 
50
 
Maturity date
   
 
2024-2025
 
  
 
2023-2024
 
Hedge ratio
   
 
1:1
 
  
 
1:1
 
Weighted average hedged rate (US$/MMBtu)
   
 
18
 
  
 
16
 
Interest rate swap (cash flow hedges)
                 
Carrying amount (US$m)
   
 
43
 
  
 
55
 
Notional amount (US$m)
1
   
 
600
 
  
 
600
 
Maturity date
   
 
2027
 
  
 
2027
 
Hedge ratio
   
 
1:1
 
  
 
1:1
 
Weighted average hedged rate
   
 
1.7%
    
 
1.7%
 
Cross currency interest rate swap (cash flow and fair value hedges)
                 
Carrying amount (US$m)
   
 
-
 
  
 
5
 
Notional amount (Swiss Franc)
1
   
 
-
 
  
 
175
 
Maturity date
   
 
-
 
  
 
2023
 
Hedge ratio
   
 
-
 
  
 
1:1
 
Weighted average hedged rate
   
 
- 
 
 
  
 
Three month USD LIBOR
+2.8%
 
 
FX forwards (cash flow hedges)
                 
Carrying amount (US$m)
   
 
8
 
  
 
(17
) 
Notional amount (AUD$m)
1
   
 
1,834
 
  
 
1,037
 
Maturity date
   
 
2024-2025
 
  
 
2023-2025
 
Hedge Ratio
   
 
1:1
 
  
 
1:1
 
Weighted average hedged rate (AUD:USD)
   
 
0.68
 
  
 
0.68
 
 
1.
The notional amounts relate to unrealised volumes of the hedge item included in the cash flow hedge reserve.
Summary of Unrealised Gains or Losses Recognised in Other Income/Expenses
 
 
 
 
 
 
 
 
 
  
  
Change in assumption
1
   
US$m
 
    
   
Urea sales price: increase of 10%
   
 
145
   
   
Urea sales price: decrease of 10%
   
 
(145
)
    
   
Discount rate: increase of 1.5%
2
   
(208
)
    
   
Discount rate: decrease of 1.5%
2
  
 
258
   
 
 
1. Amounts shown represent the change of the present value of the contract keeping all other variables constant.
2. A change of 1.5% represents 150 basis points.