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Goodwill (Tables)
12 Months Ended
Dec. 31, 2018
Goodwill [Abstract]  
Summary of goodwill

 

 

2018

 

 

2017

 

 

US$m

 

US$m

 

Net book value

 

 

 

 

 

 

At 1 January

 

1,037

 

 

951

 

Adjustment on currency translation

 

(125

)

 

86

 

At 31 December

 

912

 

 

1,037

 

– cost

 

15,861

 

 

17,942

 

– accumulated impairment

 

(14,949

)

 

(16,905

)

 

 

 

 

 

 

 

At 1 January

 

 

 

 

 

 

– cost

 

17,942

 

 

17,144

 

– accumulated impairment

 

(16,905

)

 

(16,193

)

 

At 31 December, goodwill has been allocated as follows:

 

 

 

 

 

 

 

 

2018

 

 

2017

 

 

US$m

 

US$m

 

Net book value

 

 

 

 

 

 

Richards Bay Minerals

 

474

 

 

552

 

Pilbara

 

351

 

 

389

 

Dampier Salt

 

87

 

 

96

 

 

 

912

 

 

1,037

 

Key assumptions calculation of fair value less costs of disposal

The key assumptions to which the calculation of FVLCD for Richards Bay Minerals is most sensitive and the corresponding decrease in FVLCD are set out below:

 

 

US$m

5% decrease in the titanium slag price

174

1% increase in the discount rate applied to post-tax cash flows

195

10% strengthening of the South African rand

328