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Our capital and liquidity (Tables)
 12 Months Ended
Dec. 31, 2023
Disclosure of detailed information about financial instruments [abstract]  
Disclosure of issued capital Our total capital as at 31 December is shown in the table below.
Note
2023
US$m
2022
US$m
Equity attributable to owners of Rio Tinto (see Group balance sheet)
54,586
50,175
Equity attributable to non-controlling interests (see Group balance sheet)
1,755
2,099
Net debt
19
4,231
4,188
Total capital
60,572
56,462
Summary of credit ratings Our credit ratings as at 31 December, as provided by Standard & Poor’s and Moody’s Investor Services, were:
2023
2022
Long-term rating
A/A1
A/A2
Short-term rating
A-1/P-1
A-1/P-1
Outlook
Stable/Stable
Stable/Stable
Summary of financial liability analysis In the table below, we summarise the maturity profile of our financial liabilities on our balance sheet based on contractual undiscounted payments as
at 31 December. When the amount payable is not fixed, the amount disclosed is determined by reference to the conditions existing at the end of the
reporting period. This will, therefore, not necessarily agree with the amounts disclosed as the carrying value.
2023
2022
(Outflows)/Inflows
Within 1
year or
on
demand
US$m
Between
1 and 2
years
US$m
Between
2 and 5
years
US$m
After
5 years
US$m
Total
US$m
Within 1
year or
on
demand
US$m
Between
1 and 2
years
US$m
Between
2 and 5
years
US$m
After
5 years
US$m
Total
US$m
Non-derivative financial liabilities
Trade and other financial payables(a)
(5,769)
(57)
(68)
(308)
(6,202)
(5,971)
(37)
(57)
(329)
(6,394)
Expected lease liability payments
(385)
(285)
(442)
(574)
(1,686)
(329)
(235)
(344)
(606)
(1,514)
Borrowings before swaps
(845)
(17)
(2,385)
(10,011)
(13,258)
(937)
(1,425)
(1,839)
(7,389)
(11,590)
Expected future interest payments(a)
(803)
(781)
(2,156)
(4,886)
(8,626)
(668)
(603)
(1,468)
(3,141)
(5,880)
Other financial liabilities
(4)
—
—
—
(4)
—
—
—
—
—
Derivative financial liabilities(b)
Derivatives related to net debt – net settled
(161)
(87)
(163)
—
(411)
(92)
(106)
(47)
(8)
(253)
Derivatives related to net debt – gross settled(a)
– gross inflows
502
26
77
664
1,269
37
481
72
651
1,241
– gross outflows
(620)
(34)
(102)
(841)
(1,597)
(69)
(615)
(102)
(875)
(1,661)
Derivatives not related to net debt – net settled
(76)
(54)
(124)
(54)
(308)
(78)
(60)
(129)
(77)
(344)
Derivatives not related to net debt – gross settled
– gross inflows
499
—
—
—
499
71
—
—
—
71
– gross outflows
(501)
—
—
—
(501)
(71)
—
—
—
(71)
Total
(8,163)
(1,289)
(5,363)
(16,010)
(30,825)
(8,107)
(2,600)
(3,914)
(11,774)
(26,395)
(a)The interest payable at the year end is removed from trade and other financial payables and shown within expected future interest payments and derivatives related to net debt. Interest
payments have been projected using interest rates applicable at the end of the applicable financial year. Where debt is subject to variable interest rates, future interest payments are subject to
change in line with market rates.
(b)The maturity grouping is based on the earliest payment date.