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Other disclosures - (Tables) | 6 Months Ended
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Jun. 30, 2020
Other Disclosures [Abstract] |
Summary of transactions and balances with equity accounted units |
Income statement items | Six months ended 30 June 2020 | Six months ended 30 June 2019
| US$m | US$m
Purchases from equity accounted units | (519) | (529)
Sales to equity accounted units | 119 | 141
Cash flow statement items |  |
Dividends from equity accounted units | 183 | 318
Net funding of equity accounted units | (14) | (12)
| 30 June 2020 | 31 December 2019
Balance sheet items | US$m | US$m
Investments in equity accounted units(a) | 3,849 | 3,971
Loans to equity accounted units | 39 | 39
Trade and other receivables: amounts due from equity accounted units | 231 | 259
Trade and other payables: amounts due to equity accounted units | (228) | (271)
(a)Investments in equity accounted units include quasi equity loans.
Summary of subsidiaries |
|  |  | Iron Ore Company of Canada | Iron Ore Company of Canada | Energy Resources of Australia | Energy Resources of Australia | Turquoise Hill (a)(b)(c) | Turquoise Hill (a)(b)(c)
|  |  | 2020 | 2019 | 2020 | 2019 | 2020 | 2019
Income statement summary for six months ended 30 June |  |  | US$m | US$m | US$m | US$m | US$m | US$m
Revenue |  |  | 1,011 | 1,027 | 108 | 118 | 409 | 735
Profit/(loss) after tax |  |  | 257 | 260 | 27 | 36 | (23) | (2,054)
– attributable to non-controlling interests |  |  | 106 | 108 | 6 | 11 | (89) | (1,413)
– attributable to Rio Tinto |  |  | 151 | 152 | 21 | 25 | 66 | (641)
Other comprehensive (loss)/income |  |  | (91) | 51 | 22 | 1 | (2) | 1
Total comprehensive income/(loss) |  |  | 166 | 311 | 49 | 37 | (25) | (2,053)
|  |  | 30 June 2020 | 31 December 2019 | 30 June 2020 | 31 December 2019 | 30 June 2020 | 31 December 2019
Balance sheet summary as at: |  |  | US$m | US$m | US$m | US$m | US$m | US$m
Non-current assets |  |  | 2,397 | 2,585 | 393 | 76 | 10,155 | 9,589
Current assets |  |  | 741 | 610 | 270 | 258 | 1,793 | 2,449
Current liabilities |  |  | (394) | (532) | (131) | (127) | (457) | (493)
Non-current liabilities |  |  | (847) | (927) | (428) | (462) | (4,375) | (4,405)
Net assets/(liabilities) |  |  | 1,897 | 1,736 | 104 | (255) | 7,116 | 7,140
– attributable to non-controlling interests |  |  | 787 | 718 | 19 | — | 2,240 | 2,369
– attributable to Rio Tinto |  |  | 1,110 | 1,018 | 85 | (255) | 4,876 | 4,771
|  |  | 2020 | 2019 | 2020 | 2019 | 2020 | 2019
Cash flow statement summary for six months ended 30 June |  |  | US$m | US$m | US$m | US$m | US$m | US$m
Cash flow from operations |  |  | 403 | 509 | 17 | 23 | 29 | 287
Dividends paid to non-controlling interests |  |  | — | (52) | — | — | — | —
(a)Turquoise Hill Resources Ltd holds a controlling interest in Oyu Tolgoi LLC ("OT"). (b)Under the terms of the project finance facility held by OT, there are certain restrictions on the ability of OT to make shareholder distributions. (c)Since 2011, Turquoise Hill has funded common share investments in OT on behalf of Erdenes Oyu Tolgoi LLC ("Erdenes"). In accordance with the Amended and Restated Shareholders Agreement dated 8 June 2011, such funded amounts earn interest at an effective annual rate of LIBOR plus 6.5% and are repayable to them via a pledge over Erdenes' share of future OT common share dividends. Erdenes also has the right to reduce the outstanding balance by making payments directly to Turquoise Hill. Common share investments funded on behalf of Erdenes are recorded as a reduction to the net carrying value of non-controlling interests. As at 30 June 2020, the cumulative amount of such funding was US$1,327 million (31 December 2019: US$1,241 million), excluding accrued interest of US$734 million (31 December 2019: US$655 million) relating to this funding. Other disclosures (continued) Summary financial information for subsidiaries that have non-controlling interests that are material to the Group (continued)
|  |  |  |  | Robe River Mining Co Pty | Robe River Mining Co Pty | Other companies and eliminations(d) | Other companies and eliminations(d) | Robe River | Robe River
|  |  |  |  | 2020 | 2019 | 2020 | 2019 | 2020 | 2019
Income statement summary for six months ended 30 June |  |  |  |  | US$m | US$m | US$m | US$m | US$m | US$m
Revenue |  |  |  |  | 734 | 614 | 851 | 716 | 1,585 | 1,330
Profit after tax |  |  |  |  | 403 | 344 | 424 | 338 | 827 | 682
– attributable to non-controlling interests |  |  |  |  | 158 | 134 | — | — | 158 | 134
– attributable to Rio Tinto |  |  |  |  | 245 | 210 | 424 | 338 | 669 | 548
Other comprehensive loss |  |  |  |  | (88) | (18) | (38) | (11) | (126) | (29)
Total comprehensive income |  |  |  |  | 315 | 326 | 386 | 327 | 701 | 653
|  |  |  |  |  | Adjusted(e) |  | Adjusted(e) |  | Adjusted(e)
|  |  |  |  | 30 June 2020 | 31 December 2019 | 30 June 2020 | 31 December 2019 | 30 June 2020 | 31 December 2019
Balance sheet summary as at: |  |  |  |  | US$m | US$m | US$m | US$m | US$m | US$m
Non-current assets(e) |  |  |  |  | 2,979 | 2,945 | 3,673 | 3,687 | 6,652 | 6,632
Current assets(e) |  |  |  |  | 1,124 | 1,161 | 2,668 | 2,531 | 3,792 | 3,692
Current liabilities(e) |  |  |  |  | (705) | (204) | (859) | (303) | (1,564) | (507)
Non-current liabilities(e) |  |  |  |  | (365) | (376) | (3,495) | (4,050) | (3,860) | (4,426)
Net assets |  |  |  |  | 3,033 | 3,526 | 1,987 | 1,865 | 5,020 | 5,391
– attributable to non-controlling interests |  |  |  |  | 1,210 | 1,404 | — | — | 1,210 | 1,404
– attributable to Rio Tinto |  |  |  |  | 1,823 | 2,122 | 1,987 | 1,865 | 3,810 | 3,987
|  |  |  |  | 2020 | 2019 | 2020 | 2019 | 2020 | 2019
Cash flow statement summary for six months ended 30 June |  |  |  |  | US$m | US$m | US$m | US$m | US$m | US$m
Cash flow from operations |  |  |  |  | 665 | 528 | 1,066 | 920 | 1,731 | 1,448
Dividends paid to non-controlling interests |  |  |  |  | (211) | — | — | — | (211) | —
(d)"Other companies and eliminations" includes North Mining Limited (a wholly-owned subsidiary of the Group which accounts for its interest in Robe River) and goodwill of US$342 million at 30 June 2020 (31 December 2019: US$349 million) that arose on the Group's acquisition of its interest in Robe River. (e)The 31 December 2019 comparative has been adjusted to more appropriately classify certain intercompany balances.
Summary of principal joint ventures | This summarised financial information is shown on a 100% basis. It represents the amounts shown in the joint ventures’ financial statements prepared in accordance with IFRS under Group accounting policies, including fair value adjustments and amounts due to and from Rio Tinto.
|  | Minera Escondida Ltda | Minera Escondida Ltda |  | Sohar Aluminum Co. L.L.C. | Sohar Aluminum Co. L.L.C. |
|  | 2020 | 2019 |  | 2020 | 2019 |
Income statement summary for six months ended 30 June |  | US$m | US$m |  | US$m | US$m |
Revenue |  | 3,137 | 3,537 |  | 325 | 325 |
Depreciation and amortisation |  | (797) | (790) |  | (55) | (60) |
Other operating costs |  | (1,243) | (1,640) |  | (225) | (220) |
Operating profit |  | 1,097 | 1,107 |  | 45 | 45 |
Finance expense |  | (70) | (80) |  | (15) | (15) |
Income tax |  | (370) | (387) |  | (5) | (5) |
Profit after tax |  | 657 | 640 |  | 25 | 25 |
Other comprehensive loss |  | (27) | — |  | — | — |
Total comprehensive income |  | 630 | 640 |  | 25 | 25 |
|  | 30 June 2020 | 31 December 2019 |  | 30 June 2020 | 31 December 2019 |
Balance sheet summary as at: |  | US$m | US$m |  | US$m | US$m |
Non-current assets |  | 12,004 | 12,450 |  | 2,990 | 3,045 |
Current assets |  | 2,393 | 2,250 |  | 250 | 290 |
Current liabilities |  | (1,547) | (1,827) |  | (185) | (205) |
Non-current liabilities |  | (4,540) | (4,670) |  | (745) | (845) |
Net assets |  | 8,310 | 8,203 |  | 2,310 | 2,285 |
Assets and liabilities above include: |  |  |  |  |  |  |
– cash and cash equivalents |  | 533 | 603 |  | 20 | 20 |
– current financial liabilities |  | (783) | (807) |  | (110) | (110) |
– non-current financial liabilities |  | (2,217) | (2,380) |  | (575) | (675) |
|  | 2020 | 2019 |  | 2020 | 2019 |
Cash flow statement summary for six months ended 30 June |  | US$m | US$m |  | US$m | US$m |
Dividends received from joint venture (Rio Tinto share) |  | 183 | 315 |  | — | — |

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- Definition The disclosure of the reconciliation of the summarised financial information of a joint venture accounted for using the equity method to the carrying amount of the reporting entity's interest in the joint venture. [Refer: Carrying amount [member]; Joint ventures [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 12 -IssueDate 2019-01-01 -Paragraph B14 -Subparagraph b -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2019-en-r&anchor=para_B14_b&doctype=Appendix&subtype=B -URIDate 2019-03-27 + Details
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