XML 234 R31.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Borrowings and other financial liabilities | 12 Months Ended
--- | ---
Dec. 31, 2018
Borrowings And Other Financial Liabilities [Abstract] |
Borrowings and other financial liabilities | 22 Borrowings and other financial liabilities
|  |  |  | Non-current |  | Current |  | Total |  | Non-current |  | Current |  | Total |
|  |  |  |  | 2018 |  |  | 2018 |  |  | 2018 |  |  | 2017 |  |  | 2017 |  |  | 2017 |
Borrowings at 31 December | Note |  | US$m |  | US$m |  | US$m |  | US$m |  | US$m |  | US$m |
Rio Tinto Finance plc Euro Bonds 2.0% due 2020 (a) (b) |  |  |  |  | 468 |  |  | - |  |  | 468 |  |  | 921 |  |  | - |  |  | 921 |
Rio Tinto Finance (USA) Limited Bonds 4.125% 2021 (a) |  |  |  |  | - |  |  | - |  |  | - |  |  | 428 |  |  | - |  |  | 428 |
Rio Tinto Finance (USA) Limited Bonds 3.750% 2021 (a) |  |  |  |  | - |  |  | - |  |  | - |  |  | 347 |  |  | - |  |  | 347 |
Rio Tinto Finance (USA) plc Bonds 3.5% 2022 (a) |  |  |  |  | - |  |  | - |  |  | - |  |  | 227 |  |  | - |  |  | 227 |
Rio Tinto Finance (USA) plc Bonds 2.875% 2022 (a) |  |  |  |  | - |  |  | - |  |  | - |  |  | 377 |  |  | - |  |  | 377 |
Rio Tinto Finance plc Euro Bonds 2.875% due 2024 (a) (b) |  |  |  |  | 514 |  |  | - |  |  | 514 |  |  | 644 |  |  | - |  |  | 644 |
Rio Tinto Finance (USA) Limited Bonds 3.75% 2025 (a) |  |  |  |  | 1,170 |  |  | - |  |  | 1,170 |  |  | 1,192 |  |  | - |  |  | 1,192 |
Rio Tinto Finance (USA) Limited Bonds 7.125% 2028 (a) |  |  |  |  | 927 |  |  | - |  |  | 927 |  |  | 965 |  |  | - |  |  | 965 |
Alcan Inc. Debentures 7.25% due 2028 |  |  |  |  | 104 |  |  | - |  |  | 104 |  |  | 105 |  |  | - |  |  | 105 |
Rio Tinto Finance plc Sterling Bonds 4.0% due 2029 (a) (b) |  |  |  |  | 633 |  |  | - |  |  | 633 |  |  | 669 |  |  | - |  |  | 669 |
Alcan Inc. Debentures 7.25% due 2031 |  |  |  |  | 421 |  |  | - |  |  | 421 |  |  | 422 |  |  | - |  |  | 422 |
Alcan Inc. Global Notes 6.125% due 2033 |  |  |  |  | 741 |  |  | - |  |  | 741 |  |  | 740 |  |  | - |  |  | 740 |
Alcan Inc. Global Notes 5.75% due 2035 |  |  |  |  | 288 |  |  | - |  |  | 288 |  |  | 287 |  |  | - |  |  | 287 |
Rio Tinto Finance (USA) Limited Bonds 5.2% 2040 (a) |  |  |  |  | 1,095 |  |  | - |  |  | 1,095 |  |  | 1,102 |  |  | - |  |  | 1,102 |
Rio Tinto Finance (USA) plc Bonds 4.75% 2042 (a) |  |  |  |  | 462 |  |  | - |  |  | 462 |  |  | 467 |  |  | - |  |  | 467 |
Rio Tinto Finance (USA) plc Bonds 4.125% 2042 (a) |  |  |  |  | 685 |  |  | - |  |  | 685 |  |  | 691 |  |  | - |  |  | 691 |
Oyu Tolgoi LLC MIGA Insured Loan LIBOR plus 2.65% due 2027 (c) |  |  |  |  | 676 |  |  | - |  |  | 676 |  |  | 674 |  |  | - |  |  | 674 |
Oyu Tolgoi LLC Commercial Banks "B Loan" LIBOR plus 3.4% due 2027 (c) |  |  |  |  | 1,588 |  |  | - |  |  | 1,588 |  |  | 1,588 |  |  | - |  |  | 1,588 |
Oyu Tolgoi LLC Export Credit Agencies Loan 2.3% due 2028 (c) |  |  |  |  | 272 |  |  | - |  |  | 272 |  |  | 255 |  |  | - |  |  | 255 |
Oyu Tolgoi LLC Export Credit Agencies Loan LIBOR plus 3.65% due 2029 (c) |  |  |  |  | 871 |  |  | - |  |  | 871 |  |  | 869 |  |  | - |  |  | 869 |
Oyu Tolgoi LLC International Financial Institutions "A Loan" LIBOR plus 3.78% due 2030 (c) |  |  |  |  | 768 |  |  | - |  |  | 768 |  |  | 761 |  |  | - |  |  | 761 |
Loans from equity accounted units |  |  |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 31 |  |  | 31 |
Other secured loans |  |  |  |  | 345 |  |  | 42 |  |  | 387 |  |  | 451 |  |  | 79 |  |  | 530 |
Other unsecured loans |  |  |  |  | 373 |  |  | 264 |  |  | 637 |  |  | 393 |  |  | 435 |  |  | 828 |
Finance leases |  | 23 |  |  | 39 |  |  | 5 |  |  | 44 |  |  | 49 |  |  | 4 |  |  | 53 |
Bank overdrafts |  | 21 |  |  | - |  |  | 1 |  |  | 1 |  |  | - |  |  | 3 |  |  | 3 |
Total borrowings including overdrafts (d) |  |  |  |  | 12,440 |  |  | 312 |  |  | 12,752 |  |  | 14,624 |  |  | 552 |  |  | 15,176 |
(a) | These borrowings are subject to the hedging arrangements summarised below. Fair value hedge accounting has been applied except for the Rio Tinto Finance plc Sterling Bonds 4.0% due 2029 which has cash flow hedge accounting applied.
(b) | Rio Tinto has a US$10 billion (2017: US$10 billion) European Debt Issuance Programme against which the cumulative amount utilised was US$1.6 billion equivalent at 31 December 2018 (2017: US$2.2 billion). The carrying value of these bonds after hedge accounting adjustments amounted to US$1.6 billion (2017: US$ 2.2 billion) in aggregate.
(c) | These borrowings relate to the Oyu Tolgoi LLC project finance facility. The project finance facility provides for interest-only payments for the first five years followed by minimum repayments according to a stepped amortisation schedule for the remaining life of the facility. The due dates stated represent the final repayment date. The interest rates stated are pre-completion and will increase by 1% post-completion.
(d) | The Group’s borrowings of US$12.8 billion (2017: US$15.2 billion) include US$2.4 billion (2017: US$2.7 billion) which relates to subsidiary entity borrowings that are without recourse to the Group, and US$4.6 billion (2017: US$4.7 billion) which is subject to various financial and general covenants with which the respective borrowers were in compliance as at 31 December 2018.
|  | Non-current |  | Current |  | Total |  | Non-current |  | Current |  | Total |
|  |  | 2018 |  |  | 2018 |  |  | 2018 |  |  | 2017 |  |  | 2017 |  |  | 2017 |
Other financial liabilities |  | US$m |  | US$m |  | US$m |  | US$m |  | US$m |  | US$m |
Derivative financial instruments |  |  | 407 |  |  | 95 |  |  | 502 |  |  | 481 |  |  | 50 |  |  | 531 |
Other financial liabilities |  |  | - |  |  | 666 |  |  | 666 |  |  | 43 |  |  | 302 |  |  | 345 |
Total other financial liabilities |  |  | 407 |  |  | 761 |  |  | 1,168 |  |  | 524 |  |  | 352 |  |  | 876 |
Total borrowings including overdrafts (as above) |  |  | 12,440 |  |  | 312 |  |  | 12,752 |  |  | 14,624 |  |  | 552 |  |  | 15,176 |
Total borrowings and other financial liabilities |  |  | 12,847 |  |  | 1,073 |  |  | 13,920 |  |  | 15,148 |  |  | 904 |  |  | 16,052 |
Swap arrangements At 31 December 2018, US$4.3 billion (2017: US$5.7 billion) US dollar notional of the fixed rate US dollar borrowings were swapped to floating US dollar rates and US$0.9 billion (2017: US$1.5 billion) US dollar notional equivalent of euro borrowings were fully swapped to floating US dollar rates. Hedge accounting has been applied to the full notional of items marked (a) in the above table except for: US$75 million (2017: US$75 million) of the Rio Tinto Finance (USA) Limited Bonds 7.125% due 2028. This portion is held at amortised cost. The Rio Tinto Finance plc Sterling Bond 4.0% due 2029 at US$0.6 billion (2017: US$0.7 billion) US dollar notional equivalent of sterling was fully swapped to US dollar notional and fixed US dollar rates. Cash flow hedging was applied to the annual interest coupons and principal of this bond. The hedge was fully effective in 2018 and 2017 financial years as the notional amount, maturity, payment and reset dates match. The fair value of interest rate and cross-currency interest rate swaps at 31 December 2018 was US$70 million (2017: US$99 million) asset and US$358 million (2017: US$276 million) liability, respectively. These are included within “Other financial assets” and “Other financial liabilities” in the balance sheet. The change in fair value used for measuring ineffectiveness for the period is shown in note 8. The main sources of ineffectiveness include changes in the timing of the cash flows of the hedging instrument compared to the underlying hedged item and changes in the credit risk of parties to the hedging relationship. Details of the major interest rate and cross-currency interest rate swaps are shown in note 30.

X
- Definition Borrowings and other financial liabilities [Abstract] + References No definition available. + Details
Name: | rio_BorrowingsAndOtherFinancialLiabilitiesAbstract
Namespace Prefix: | rio_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of borrowings and other financial liabilities. + References No definition available. + Details
Name: | rio_DisclosureOfBorrowingsAndOtherFinancialLiabilitiesExplanatory
Namespace Prefix: | rio_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration