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Employment costs and provisions (Tables) | 12 Months Ended
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Dec. 31, 2024
Disclosure Of Employee Cost And Provisions Explanatory [Abstract] |
Summary of employment costs and provisions |
| Note | 2024 US$m | 2023 US$m | 2022 US$m
Total employment costs |  |  |  |
– Wages and salaries |  | 6,004 | 5,625 | 5,115
– Social security costs |  | 461 | 470 | 425
– Net post-retirement charge | 28 | 605 | 449 | 559
– Share-based payment charge | 27 | 172 | 144 | 122
|  | 7,242 | 6,688 | 6,221
Less: charged within movement in provisions (see below) |  | (187) | (52) | (219)
Total employment costs | 7 | 7,055 | 6,636 | 6,002
Summary of provisions |
| Note | 2024 US$m | 2023 US$m
At 1 January |  | 17,150 | 15,759
Adjustment on currency translation |  | (1,128) | 241
Adjustments to mining properties/right-of-use assets: | 13 |  |
–increases to existing and new provisions |  | 851 | 629
–change in discount rate |  | (787) | (921)
Charged/(credited) to profit: |  |  |
–increases to existing and new provisions(a) |  | 435 | 1,654
–change in discount rate |  | (235) | (168)
–unused amounts reversed |  | (88) | (195)
–exchange losses/(gains) on provisions |  | 26 | (16)
–amortisation of discount |  | 843 | 955
Utilised in year |  | (1,142) | (777)
Newly consolidated operation(b) |  | 61 | –
Transfers and other movements(c) |  | (255) | (11)
At 31 December(d) |  | 15,731 | 17,150
Balance sheet analysis: |  |  |
Current |  | 1,183 | 1,523
Non-current |  | 14,548 | 15,627
Total |  | 15,731 | 17,150
(a)In 2023, this included US$1,272 million arising from study updates in the second half of the year which was excluded from underlying EBITDA. Refer to note 1 for details. (b)This relates to our acquisition of 20.64% interest in NZAS. Refer to note 5 for details. (c)In 2024, transfer and other movements includes amount relating to disposal of interest in businesses. (d)Close-down, restoration and environmental provisions at 31 December 2024 have not been adjusted for closure-related receivables amounting to US$350 million (2023: US$366 million) due from the ERA trust fund and other financial assets held for the purposes of meeting closure obligations. These are included within “Receivables and other assets” on the balance sheet. The impact of discounting on the provision - and the corresponding amount capitalised within “Property, plant and equipment” (for operating sites) or charged/(credited) to the income statement (for non-operating and fully impaired sites) - is illustrated below:
| At 31 December 2024 | At 31 December 2023
| Capitalised within “Property, plant and equipment” US$m | Charged/(credited) to the income statement US$m | Total increase/ (decrease) in provision US$m | Capitalised within “Property, plant and equipment” US$m | Charged/(credited) to the income statement US$m | Total increase/ (decrease) in provision US$m
Discount rate decreased to 1.0% | 3,300 | 400 | 3,700 | 2,300 | 300 | 2,600
Discount rate increased to 3.0% | (900) | (100) | (1,000) | (1,800) | (300) | (2,100)
| 2024 | 2023
Employment provisions | Pensions and post-retirement healthcare(a) US$m | Other employee entitlements(b) US$m | Total US$m | Total US$m
At 1 January | 1,189 | 369 | 1,558 | 1,658
Adjustment on currency translation | (48) | (35) | (83) | 32
Charged/(credited) to profit: |  |  |  |
–increases to existing and new provisions | 91 | 108 | 199 | 78
–unused amounts reversed | – | (12) | (12) | (26)
Utilised in year | (75) | (58) | (133) | (277)
Remeasurement (gains)/losses recognised in other comprehensive income | (94) | – | (94) | 102
Transfers and other movements | – | 21 | 21 | (9)
At 31 December | 1,063 | 393 | 1,456 | 1,558
Balance sheet analysis: |  |  |  |
Current | 68 | 291 | 359 | 361
Non-current | 995 | 102 | 1,097 | 1,197
Total employment provisions | 1,063 | 393 | 1,456 | 1,558
(a)The main assumptions used to determine the provision for pensions and post-retirement healthcare, and other information, including the expected level of future funding payments in respect of those arrangements, are given in note 28. (b)The provision for other employee entitlements includes a provision for long service leave of US$313 million (2023: US$296 million), based on the relevant entitlements in certain Group operations, and includes US$24 million (2023: US$17 million) of provision for redundancy and severance payments.
| 2024 US$m | 2023 US$m
Opening balance at 1 January | 1,371 | 1,298
Adjustment on currency translation | (69) | 14
Adjustments to mining properties/right-of-use assets: |  |
– increases to existing and new provisions | 17 | –
– change in discount rate | (2) | –
Charged/(credited) to profit: |  |
– increases to existing and new provisions | 184 | 214
– change in discount rate | (7) | (18)
– unused amounts reversed | (104) | (31)
– exchange gain on provisions | – | (1)
– amortisation of discount | 14 | 22
Utilised in year | (94) | (104)
Transfers and other movements(a) | (203) | (23)
Closing balance at 31 December | 1,107 | 1,371
Balance sheet analysis: |  |
Current | 792 | 637
Non-current | 315 | 734
Total | 1,107 | 1,371
(a)In 2024, transfers and other movements includes settlement of deferred consideration payable to Turquoise Hill Resources Ltd dissenting shareholders.

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