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Provisions and post-retirement benefits | 6 Months Ended
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Jun. 30, 2020
Disclosure of other provisions [abstract] |
Provisions and post-retirement benefits | Provisions and post-retirement benefits
|  | Pensions and post-retirement healthcare | Other employee entitlements | Close-down and restoration/ environmental(a)(b) | Other | Total
For the six months ended 30 June 2020 |  | US$m | US$m | US$m | US$m | US$m
Opening balance |  | 2,714 | 354 | 11,090 | 945 | 15,103
Adjustment on currency translation |  | (81) | (6) | (194) | (17) | (298)
Adjustments to property, plant and equipment: |  |  |  |  |  |
– changes in estimate |  | — | — | 72 | 12 | 84
Charged/(credited) to profit: |  |  |  |  |  |
– increases to existing and new provisions |  | 97 | 52 | 275 | 80 | 504
– decreases to existing provisions and unused amounts reversed |  | — | (6) | (94) | (68) | (168)
– amortisation of discount |  | — | — | 214 | 2 | 216
Utilised in the period |  | (97) | (26) | (155) | (73) | (351)
Actuarial losses recognised in equity |  | 345 | — | — | — | 345
Transfers and other movements |  | — | — | (2) | (30) | (32)
Closing balance |  | 2,978 | 368 | 11,206 | 851 | 15,403
Balance sheet analysis: |  |  |  |  |  |
Current |  | 71 | 282 | 612 | 515 | 1,480
Non-current |  | 2,907 | 86 | 10,594 | 336 | 13,923
Total |  | 2,978 | 368 | 11,206 | 851 | 15,403
(a)Provisions of US$11,206 million (31 December 2019: US$11,090 million) for close-down and restoration costs and environmental clean-up obligations are based on estimates of future cash flows. These estimates have been discounted to their present value at a real discount rate of 2% per annum. If the discount rate was decreased by 1% then the provision would be US$2.1 billion higher, of which approximately US$1.9 billion would be capitalised within 'Property, plant and equipment' and US$0.2 billion would be charged to the income statement. (b)Close-down and restoration/environmental liabilities at 30 June 2020 have not been adjusted for amounts of US$473 million (31 December 2019: US$166 million) arising from closure related receivables from the co-owners of the Diavik Joint Venture, the ERA trust fund and other financial assets held for the purposes of meeting these obligations.

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- Definition The disclosure of provisions. [Refer: Provisions] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2019-01-01 -Paragraph 10 -Subparagraph e -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2019-en-r&anchor=para_10_e&doctype=Standard -URIDate 2019-03-27 + Details
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