Net debt (Tables)
 12 Months Ended
Jun. 30, 2021
Statement [Line Items]  
Summary of Net Debt Balance and Gearing Ratio
    
2021
     2020
Restated		  
US$M
   
Current
     
Non-current
     Current    
Non-current
  
Interest bearing liabilities
                                  
Bank loans
   
 
437
 
   
 
1,823
 
     737       1,755  
Notes and debentures
   
 
1,244
 
   
 
13,525
 
     3,354       17,691  
Lease liabilities
   
 
889
 
   
 
3,007
 
     853       2,590  
Bank overdraft and short-term borrowings
   
 
–
 
   
 
–
 
     –       –  
Other
   
 
58
 
   
 
–
 
     68       –  
    
 
 
     
 
 
    
 
 
    
 
 
  
Total interest bearing liabilities
   
 
2,628
 
   
 
18,355
 
     5,012       22,036  
    
 
 
     
 
 
    
 
 
    
 
 
  
Less: Lease liability associated with index-linked freight contracts
   
 
346
 
   
 
679
 
     379       781  
    
 
 
     
 
 
    
 
 
    
 
 
  
Less: Cash and cash equivalents
                                  
Cash
   
 
4,408
 
   
 
–
 
     3,493       –  
Short-term deposits
   
 
10,838
 
   
 
–
 
     9,933       –  
    
 
 
     
 
 
    
 
 
    
 
 
  
Less: Total cash and cash equivalents
   
 
15,246
 
   
 
–
 
     13,426       –  
    
 
 
     
 
 
    
 
 
    
 
 
  
Less: Derivatives included in net debt
                                  
Net debt management related instruments
(1)
   
 
20
 
   
 
537
 
     (162 )      595  
Net cash management related instruments
  (2)
   
 
34
 
   
 
–
 
     (15 )      –  
    
 
 
     
 
 
    
 
 
    
 
 
  
Less: Total derivatives included in net debt
   
 
54
 
   
 
537
 
     (177 )      595  
    
 
 
     
 
 
    
 
 
    
 
 
  
Net debt
            
 
4,121
 
             12,044  
             
 
 
            
 
 
  
Net assets
 (3)
            
 
55,605
 
             52,175  
             
 
 
            
 
 
  
Gearing
            
 
6.9
% 
             18.8 % 
             
 
 
            
 
 
  
 
(1)
 
Represents the net cross currency and interest rate swaps designated as effective hedging instruments included within current and
non-current
other financial assets and liabilities.
 
(2)
 
Represents the net forward exchange contracts included within current and
non-current
other financial assets and liabilities.
 
(3)
 
30 June 2020 net assets have been restated to reflect changes to the Group’s accounting policy following a decision by the IFRS Interpretations Committee on IAS 12 ‘Income Taxes’ resulting in a retrospective decrease of US$71 million. Refer to note 39 ‘New and amended accounting standards and interpretations and changes to accounting policies’.
Summary of Cash and Cash Equivalents, Net of Overdrafts
Cash and short-term deposits are disclosed in the cash flow statement net of bank overdrafts and interest bearing liabilities at call.
 
    
2021
      2020      2019  
    
US$M
      US$M      US$M  
Total cash and cash equivalents
   
 
15,246
 
      13,426        15,613  
Bank overdrafts and short-term borrowings
   
 
–
 
      –        (20 ) 
    
 
 
     
 
 
     
 
 
  
Total cash and cash equivalents, net of overdrafts
   
 
15,246
 
      13,426        15,593  
    
 
 
     
 
 
     
 
 
  
Summary of Maturity Profile of Financial Liabilities Based on the Contractual Amounts
The maturity profile of the Group’s financial liabilities based on the undiscounted contractual amounts, taking into account the derivatives related to debt, is as follows:
 
2021
US$M
   
Bank loans,

debentures and

other loans
     
Expected

future

interest

payments
     
Derivatives

related to

debentures
     
Other

derivatives
     
Obligations

under

lease
liabilities
     
Trade and

other

payables
 (1)
     
Total
  
Due for payment:
                                                               
In one year or less or on demand
     
1,722
 
  
 
729
 
  
 
61
 
  
 
149
 
  
 
980
 
  
 
6,851
 
  
 
10,492
  
In more than one year but not more than two years
     
2,278
 
  
 
661
 
  
 
267
 
  
 
80
 
  
 
680
 
  
 
–
 
  
 
3,966
  
In more than two years but not more than five years
     
4,062
 
  
 
1,492
 
  
 
256
 
  
 
240
 
  
 
1,397
 
  
 
–
 
  
 
7,447
  
In more than five year
s
     
7,801
 
  
 
4,136
 
  
 
585
 
  
 
317
 
  
 
1,842
 
  
 
–
 
  
 
14,681
  
    
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
  
Total
     
15,863
 
  
 
7,018
 
  
 
1,169
 
  
 
786
 
  
 
4,899
 
  
 
6,851
 
  
 
36,586
  
    
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
  
Carrying amount
     
17,087
 
  
 
–
 
  
 
586
 
  
 
690
 
  
 
3,896
 
  
 
6,851
 
  
 
29,110
  
    
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
               
2020
US$M
    Bank loans,
debentures and
other loans		      Expected
future
interest
payments		      Derivatives
related to
debentures		      Other
derivatives		      Obligations
under
lease
liabilities		      Trade and
other
payables
 (1)
      Total  
Due for payment:
                                                               
In one year or less or on demand
      4,138        813        260        60        927        5,622        11,820  
In more than one year but not more than two years
      1,665        702        81        –        630        1        3,079  
In more than two years but not more than five years
      5,727        1,713        819        –        1,335        –        9,594  
In more than five years
      10,101        4,368        974        –        1,043        –        16,486  
    
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Total
      21,631        7,596        2,134        60        3,935        5,623        40,979  
    
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Carrying amount
      23,605        –        1,579        60        3,443        5,623        34,310  
    
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
 
(1)
 
Excludes input taxes of US$176 million (2020: US$145 million) included in other payables. Refer to note 9 ‘Trade and other payables’.
Currency risk [member]  
Statement [Line Items]  
Summary of Interest Bearing Liabilities and Cash and Cash Equivalents Denominated by Currency
Interest bearing liabilities and cash and cash equivalents include balances denominated in the following currencies:
 
    
Interest bearing liabilities
     
Cash and cash equivalents
  
    
2021
      2020     
2021
      2020  
    
US$M
      US$M     
US$M
      US$M  
USD
   
 
11,146
 
      14,625     
 
12,003
 
      9,555  
EUR
   
 
4,505
 
      7,323     
 
4
 
      4  
GBP
   
 
3,415
 
      3,272     
 
32
 
      519  
AUD
   
 
1,053
 
      1,055     
 
573
 
      1,011  
CAD
   
 
635
 
      597     
 
2,455
 
      2,131  
Other
   
 
229
 
      176     
 
179
 
      206  
    
 
 
     
 
 
     
 
 
     
 
 
  
Total
   
 
20,983
 
      27,048     
 
15,246
 
      13,426