News Release - BHP Billiton

BHP Billiton Limited
171 Collins Street
Melbourne Victoria 3000 Australia
GPO BOX 86
Melbourne Victoria 3001 Australia
Tel +61 1300 55 47 57 Fax +61 3 9609 3015
bhpbilliton.com
BHP Billiton Plc
Neathouse Place
London SW1V 1LH UK
Tel +44 20 7802 4000
Fax + 44 20 7802 4111
bhpbilliton.com
22 July 2015
To:
Australian Securities Exchange
London Stock Exchange
cc:
New York Stock Exchange
JSE Limited
REPUBLISHED FINANCIAL AND SUPPLEMENTARY INFORMATION
BHP Billiton today republished financial information for the year ended 30 June 2014, the year ended 30
June 2013 and half year ended 31 December 2014 to restate previously published information for the
effect of the application of IFRS 5/AASB 5 ‘Non-current Assets Held for Sale and Discontinued
Operations’ following the demerger of South32. Supplementary financial information has been
republished for the year ended 30 June 2014 and half year ended 31 December 2014.
BHP Billiton’s financial results for the year ended 30 June 2015 will be reported on 25 August 2015.
Further information on BHP Billiton can be found at: www.bhpbilliton.com.
Rachel Agnew
Company Secretary
BHP Billiton Limited ABN 49 004 028 077
Registered in Australia
Registered Office: 171 Collins Street Melbourne Victoria 3000
BHP Billiton Plc Registration number 3196209
Registered in England and Wales
Registered Office: Neathouse Place, London SW1V 1LH United Kingdom
The BHP Billiton Group is headquartered in Australia
BHP Billiton Group
Restated financial information
For the year ended 30 June 2014, the year ended 30 June 2013
and half year ended 31 December 2014
1
BHP Billiton restated financial information
Contents
Restated financial information
Page
Basis of preparation of restated financial information
3
Consolidated Income Statement – Restated
4
Consolidated Statement of Comprehensive Income
5
Consolidated Balance Sheet
6
Consolidated Cash Flow Statement – Restated
7
Consolidated Statement of Changes in Equity
8
Restated supplementary financial information
11
2
BHP Billiton restated financial information
Basis of preparation of restated financial information
This financial information for the year ended 30 June 2014, the year ended 30 June 2013 and half year ended 31
December 2014 for the BHP Billiton Group (the Group) is not audited and has been prepared to restate previously
published information for the effects of the application of IFRS 5/AASB 5 ‘Non-current Assets Held for Sale and
Discontinued Operations’ following the demerger of South32. The nature of each change reflected in the attached
restated financial information is as follows:
 All income and expense items relating to South32 have been removed from the individual line items in the
Consolidated Income Statement. The post-tax profit or loss of South32 is presented as a single amount in the
line item entitled “Profit/(loss) after taxation from discontinued operations”; and
 All cash flows and other items relating to South32 have been removed from the individual line items in the
Consolidated Cash Flow Statement. The net cash flows attributable to the operating, investing and financing
activities of South32 are each disclosed in single amounts in each section of the Consolidated Cash Flow
Statement.
The Consolidated Balance Sheet, the Consolidated Statement of Comprehensive Income and the Consolidated
Statement of Changes in Equity for these periods are not required to be restated.
3
BHP Billiton restated financial information
Consolidated Income Statement – Restated
Year ended
30 June 2014
US$M
Year ended
30 June 2013
US$M
Half year ended
31 Dec 2014
US$M
55,045
1,717
56,762
1,225
(36,523)
1,185
22,649
52,637
1,223
53,860
3,804
(36,829)
1,142
21,977
24,230
630
24,860
284
(17,549)
335
7,930
22,634
15
22,649
21,913
64
21,977
7,929
1
7,930
81
(995)
(914)
80
(1,229)
(1,149)
41
(275)
(234)
Profit before taxation
21,735
20,828
7,696
Income tax expense
Royalty-related taxation (net of income tax benefit)
Total taxation expense
(6,266)
(514)
(6,780)
(5,646)
(1,050)
(6,696)
(2,456)
(848)
(3,304)
Profit after taxation from continuing operations
Profit/(loss) after taxation from discontinued operations
Profit after taxation
Attributable to non-controlling interests
Attributable to members of BHP Billiton Group
14,955
269
15,224
1,392
13,832
14,132
(1,312)
12,820
1,597
11,223
4,392
401
4,793
528
4,265
Earnings per ordinary share (basic) (US cents)
Earnings per ordinary share (diluted) (US cents)
Earnings from continuing operations per ordinary share (basic) (US cents)
Earnings from continuing operations per ordinary share (diluted) (US cents)
260.0
259.1
256.5
255.7
210.9
210.2
238.6
237.8
80.2
80.0
73.6
73.4
Dividends per ordinary share – paid during the period (US cents)
Dividends per ordinary share – determined in respect of the period (US cents)
118.0
121.0
114.0
116.0
62.0
62.0
Continuing operations
Revenue
Group production
Third party products
Revenue
Other income
Expenses excluding net finance costs
Share of operating profit of equity accounted investments
Profit from operations
Comprising:
Group production
Third party products
Financial income
Financial expenses
Net finance costs
4
BHP Billiton restated financial information
Consolidated Statement of Comprehensive Income
Year ended
30 June 2014
US$M
Year ended
30 June 2013
US$M
Half year ended
31 Dec 2014
US$M
15,224
12,820
4,793
(15)
(14)
(101)
(1)
(19)
(1)
681
(678)
(1)
3
(24)
223
73
2
(76)
120
(1,296)
1,283
(2)
6
(29)
Items that will not be reclassified to the income statement:
Actuarial gains/(losses) on pension and medical schemes
Tax recognised within other comprehensive income
Total items that will not be reclassified to the income statement
57
12
69
61
(16)
45
(29)
13
(16)
Total other comprehensive income/(loss)
45
165
(45)
15,269
12,985
4,748
1,392
13,877
1,599
11,386
533
4,215
Profit after taxation
Other comprehensive income
Items that may be reclassified subsequently to the income statement:
Available for sale investments:
Net valuation losses taken to equity
Net valuation gains transferred to the income statement
Cash flow hedges:
Gains/(losses) taken to equity
(Gains)/losses transferred to the income statement
Exchange fluctuations on translation of foreign operations taken to equity
Tax recognised within other comprehensive income
Total items that may be reclassified subsequently to the income statement
Total comprehensive income
Attributable to non-controlling interests
Attributable to members of BHP Billiton Group
5
BHP Billiton restated financial information
Consolidated Balance Sheet
ASSETS
Current assets
Cash and cash equivalents
Trade and other receivables
Other financial assets
Inventories
Assets classified as held for sale
Current tax assets
Other
Total current assets
Non-current assets
Trade and other receivables
Other financial assets
Inventories
Property, plant and equipment
Intangible assets
Investments accounted for using the equity method
Deferred tax assets
Other
Total non-current assets
Total assets
LIABILITIES
Current liabilities
Trade and other payables
Interest bearing liabilities
Liabilities classified as held for sale
Other financial liabilities
Current tax payable
Provisions
Deferred income
Total current liabilities
Non-current liabilities
Trade and other payables
Interest bearing liabilities
Other financial liabilities
Deferred tax liabilities
Provisions
Deferred income
Total non-current liabilities
Total liabilities
Net assets
EQUITY
Share capital – BHP Billiton Limited
Share capital – BHP Billiton Plc
Treasury shares
Reserves
Retained earnings
Total equity attributable to members of BHP Billiton Group
Non-controlling interests
Total equity
6
30 June 2014
US$M
30 June 2013
US$M
31 Dec 2014
US$M
8,803
6,741
87
6,013
−
318
334
22,296
5,677
6,310
161
5,821
286
267
431
18,953
6,130
5,584
81
6,149
−
630
327
18,901
1,867
2,349
463
108,787
5,439
3,664
6,396
152
129,117
151,413
1,998
1,719
619
100,565
5,496
3,675
6,069
84
120,225
139,178
1,716
2,150
476
108,771
5,289
3,550
5,080
148
127,180
146,081
10,145
4,262
−
16
919
2,504
218
18,064
10,860
5,088
220
210
1,158
2,372
231
20,139
8,338
2,459
−
14
407
1,943
189
13,350
113
30,327
303
7,066
9,891
267
47,967
66,031
85,382
286
28,099
582
6,312
8,178
291
43,748
63,887
75,291
77
28,610
559
7,493
9,467
275
46,481
59,831
86,250
1,186
1,069
(587)
2,927
74,548
79,143
6,239
85,382
1,186
1,069
(540)
1,970
66,982
70,667
4,624
75,291
1,186
1,057
(230)
2,842
74,990
79,845
6,405
86,250
BHP Billiton restated financial information
Consolidated Cash Flow Statement – Restated
Operating activities
Profit before taxation
Adjustments for:
Non-cash or non-operating exceptional items
Depreciation and amortisation expense
Net gain on sale of non-current assets
Impairments of property, plant and equipment, financial assets and intangibles
Employee share awards expense
Net finance costs
Share of operating profit of equity accounted investments
Other
Changes in assets and liabilities:
Trade and other receivables
Inventories
Trade and other payables
Net other financial assets and liabilities
Provisions and other liabilities
Cash generated from operations
Dividends received
Dividends received from equity accounted investments
Interest received
Interest paid
Income tax refunded
Income tax paid
Royalty-related taxation refunded
Royalty-related taxation paid
Net operating cash flows from continuing operations
Net operating cash flows from discontinued operations
Net operating cash flows
Investing activities
Purchases of property, plant and equipment
Exploration expenditure
Exploration expenditure expensed and included in operating cash flows
Purchase of intangibles
Investment in financial assets
Investment in equity accounted investments
Cash outflows from investing activities
Proceeds from sale of property, plant and equipment
Proceeds from financial assets
Proceeds from divestment of subsidiaries, operations and joint operations, net
of their cash
Proceeds from sale or partial sale of equity accounted investments
Net investing cash flows from continuing operations
Net investing cash flows from discontinued operations
Net investing cash flows
Financing activities
Proceeds from interest bearing liabilities
Proceeds from debt related instruments
Repayment of interest bearing liabilities
Proceeds from ordinary shares
Contributions from non-controlling interests
Purchase of shares by Employee Share Ownership Plan (ESOP) Trusts
Dividends paid
Dividends paid to non-controlling interests
Net financing cash flows from continuing operations
Net financing cash flows from discontinued operations
Net financing cash flows
Net increase/(decrease) in cash and cash equivalents
Cash and cash equivalents, net of overdrafts, at beginning of period
Effect of foreign currency exchange rate changes on cash and cash equivalents
Cash and cash equivalents, net of overdrafts, at end of period
7
Year ended
30 June 2014
US$M
Year ended
30 June 2013
US$M
Half year ended
31 Dec 2014
US$M
21,735
20,828
7,696
(551)
7,716
(73)
478
247
914
(1,185)
(79)
(331)
6,067
(17)
344
210
1,149
(1,142)
5
409
4,401
(33)
361
116
234
(335)
85
(349)
(158)
238
(90)
475
29,318
14
1,250
120
(915)
848
(6,123)
216
(1,088)
23,640
1,724
25,364
904
(276)
(239)
89
(565)
27,026
6
710
112
(960)
−
(6,921)
−
(956)
19,017
1,137
20,154
1,008
(189)
(1,210)
(8)
(589)
11,946
4
476
45
(310)
329
(2,013)
(15,224)
(986)
698
(192)
(1,168)
(44)
(16,916)
66
904
(21,104)
(1,321)
1,026
(380)
(455)
(84)
(22,318)
2,274
221
(6,361)
(409)
350
(64)
(18)
(25)
(6,527)
41
333
812
−
(15,134)
(700)
(15,834)
502
1,700
(17,621)
(1,105)
(18,726)
251
−
(5,902)
(415)
(6,317)
6,000
37
(7,048)
14
1,435
(368)
(6,387)
(119)
(6,436)
(32)
(6,468)
3,062
5,667
23
8,752
9,143
14
(1,902)
12
73
(445)
(6,167)
(778)
(50)
(148)
(198)
1,230
4,454
(17)
5,667
341
−
(2,953)
3
46
(338)
(3,209)
(327)
(6,437)
(322)
(6,759)
(2,653)
8,752
19
6,118
−
(861)
9,616
807
10,423
BHP Billiton restated financial information
Consolidated Statement of Changes in Equity
For the year ended 30 June 2014
US$M
Balance as at 1 July 2013
Profit after taxation
Other comprehensive income:
Net valuation losses on available for sale investments taken to equity
Net valuation gains on available for sale investments transferred to the income
statement
Gains on cash flow hedges taken to equity
Gains on cash flow hedges transferred to the income statement
Exchange fluctuations on translation of foreign operations taken to equity
Actuarial gains on pension and medical schemes
Tax recognised within other comprehensive income
Total comprehensive income
Transactions with owners:
Purchase of shares by ESOP Trusts
Employee share awards exercised net of employee contributions
Employee share awards forfeited
Accrued employee entitlement for unexercised awards
Distribution to option holders
Dividends
Equity contributed
Balance as at 30 June 2014
Attributable to members of the BHP Billiton Group
Share
Share Treasury Reserves
Retained
Total equity
Noncapital –
capital –
shares
earnings attributable to controlling
BHP Billiton BHP Billiton
members of
interests
Limited
Plc
BHP Billiton
Group
Total
equity
1,186
−
1,069
−
(540)
−
1,970
−
66,982
13,832
70,667
13,832
4,624
1,392
75,291
15,224
−
−
−
(15)
−
(15)
−
(15)
−
−
−
−
−
−
−
−
−
−
−
−
−
−
−
−
−
−
−
−
−
(14)
681
(678)
(1)
−
3
(24)
−
−
−
−
57
12
13,901
(14)
681
(678)
(1)
57
15
13,877
−
−
−
−
−
−
1,392
(14)
681
(678)
(1)
57
15
15,269
−
−
−
−
−
−
−
1,186
−
−
−
−
−
−
−
1,069
(368)
321
−
−
−
−
−
(587)
−
(221)
(32)
247
(2)
−
989
2,927
−
(91)
32
−
−
(6,276)
−
74,548
(368)
9
−
247
(2)
(6,276)
989
79,143
−
−
−
−
(2)
(252)
477
6,239
(368)
9
−
247
(4)
(6,528)
1,466
85,382
8
BHP Billiton restated financial information
Consolidated Statement of Changes in Equity
For the year ended 30 June 2013
US$M
Balance as at 1 July 2012
Profit after taxation
Other comprehensive income:
Net valuation (losses)/gains on available for sale investments taken to equity
Net valuation gains on available for sale investments transferred to the income
statement
Gains on cash flow hedges taken to equity
Losses on cash flow hedges transferred to the income statement
Exchange fluctuations on translation of foreign operations taken to equity
Actuarial gains on pension and medical schemes
Tax recognised within other comprehensive income
Total comprehensive income
Transactions with owners:
Purchase of shares by ESOP Trusts
Employee share awards exercised net of employee contributions
Employee share awards forfeited
Accrued employee entitlement for unexercised awards
Issue of share options to non-controlling interests
Dividends
Equity contributed
Divestment of equity accounted investment
Balance as at 30 June 2013
Share
capital –
BHP Billiton
Limited
Attributable to members of the BHP Billiton Group
Share
Treasury Reserves
Retained
Total equity
Noncapital –
shares
earnings attributable to controlling
BHP Billiton
members of
interests
Plc
BHP Billiton
Group
Total
equity
1,186
−
1,069
−
(533)
−
1,912
−
61,892
11,223
65,526
11,223
3,789
1,597
69,315
12,820
−
−
−
(103)
−
(103)
2
(101)
−
−
−
−
−
−
−
−
−
−
−
−
−
−
−
−
−
−
−
−
−
(1)
223
73
2
−
(117)
77
−
−
−
−
60
26
11,309
(1)
223
73
2
60
(91)
11,386
−
−
−
−
1
(1)
1,599
(1)
223
73
2
61
(92)
12,985
−
−
−
−
−
−
−
−
1,186
−
−
−
−
−
−
−
−
1,069
(445)
438
−
−
−
−
−
−
(540)
−
(243)
(17)
210
49
−
−
(18)
1,970
−
(178)
17
−
−
(6,076)
−
18
66,982
(445)
17
−
210
49
(6,076)
−
−
70,667
−
−
−
−
−
(837)
73
−
4,624
(445)
17
−
210
49
(6,913)
73
−
75,291
9
BHP Billiton restated financial information
Consolidated Statement of Changes in Equity
For the half year ended 31 December 2014
US$M
Balance as at 1 July 2014
Profit after taxation
Other comprehensive income:
Net valuation (losses)/gains on available for sale investments taken to equity
Net valuation gains on available for sale investments transferred to the income
statement
Losses on cash flow hedges taken to equity
Losses on cash flow hedges transferred to the income statement
Exchange fluctuations on translation of foreign operations taken to equity
Actuarial losses on pension and medical schemes
Tax recognised within other comprehensive income
Total comprehensive income
Transactions with owners:
Shares cancelled
Purchase of shares by ESOP Trusts
Employee share awards exercised net of employee contributions
Employee share awards forfeited
Accrued employee entitlement for unexercised awards
Distribution to option holders
Dividends
Equity contributed
Balance as at 31 December 2014
Attributable to members of the BHP Billiton Group
Share
Share Treasury Reserves
Retained
Total equity
Noncapital –
capital –
shares
earnings attributable to controlling
BHP Billiton BHP Billiton
members of
interests
Limited
Plc
BHP Billiton
Group
Total
equity
1,186
−
1,069
−
(587)
−
2,927
−
74,548
4,265
79,143
4,265
6,239
528
85,382
4,793
−
−
−
(25)
−
(25)
6
(19)
−
−
−
−
−
−
−
−
−
−
−
−
−
−
−
−
−
−
−
−
−
(1)
(1,296)
1,283
(2)
−
7
(34)
−
−
−
−
(29)
13
4,249
(1)
(1,296)
1,283
(2)
(29)
20
4,215
−
−
−
−
−
(1)
533
(1)
(1,296)
1,283
(2)
(29)
19
4,748
−
−
−
−
−
−
−
−
1,186
(12)
−
−
−
−
−
−
−
1,057
501
(338)
194
−
−
−
−
−
(230)
12
−
(174)
(4)
116
(1)
−
−
2,842
(501)
−
(18)
4
−
−
(3,292)
−
74,990
–
(338)
2
−
116
(1)
(3,292)
–
79,845
−
−
−
−
−
(1)
(412)
46
6,405
–
(338)
2
–
116
(2)
(3,704)
46
86,250
10
BHP Billiton restated supplementary financial information
Restated supplementary financial information
For the year ended 30 June 2014 and the half year ended 31 December 2014
The following pages present the supplementary financial information for the year ended 30 June 2014 and the half
year ended 31 December 2014 restated for the effect of the application of IFRS 5/AASB 5 ‘Non-current Assets
Held for Sale and Discontinued Operations’ following the demerger of South32.
The following notes and definitions are relevant to the tables on the following pages:
 All information is reported on a continuing operations basis;
 Revenue is based on BHP Billiton Group (“Group”) realised prices and includes third party products;
 Underlying EBIT is earnings before net finance costs, taxation expense, discontinued operations and any
exceptional items;
 Underlying EBITDA is Underlying EBIT before depreciation, amortisation and impairments (D&A);
 Group and Business level information is reported on a statutory basis which, in relation to Underlying EBIT,
includes net finance costs and taxation expense related to equity accounted investments;
 Within each Business table, equity accounted investments are reported on a proportionate consolidation basis
(with the exception of net operating assets);
 Capital expenditure is presented on a cash basis and excludes capitalised interest and capitalised exploration;
 Net operating assets represents operating assets net of operating liabilities including the carrying value of equity
accounted investments and predominantly excludes cash balances, interest bearing liabilities and deferred tax
balances. The carrying value of investments accounted for using the equity accounted method represents the
balance of the Group’s investment in equity accounted investments, with no adjustment for any cash balances,
interest bearing liabilities and deferred tax balances of the equity accounted investment; and
 Group and unallocated items, as disclosed in the Business summary table, includes Nickel West information
previously disclosed in the former Aluminium, Manganese and Nickel Business table.
11
BHP Billiton restated supplementary financial information
Business summary(i)
A summary of the performance of the Businesses for the December 2014 half year and the June 2014 financial
year is presented below.
Half year ended
Profit from
Net
31 December 2014
Capital Exploration Exploration
Underlying Exceptional operations operating
(ii)
(iii)
Revenue
EBIT
items
(EBIT)
assets expenditure(iv)
gross(v)
to profit(vi)
US$ million
Petroleum and Potash
6,936
2,144
−
2,144
38,989
2,825
269
257
Copper
5,781
2,046
−
2,046
23,035
1,897
41
41
Iron Ore
8,418
4,200
−
4,200
24,433
1,104
71
16
Coal
3,143
139
−
139
12,241
478
12
12
Group and unallocated items(vii)
820
(190)
(409)
(599)
845
57
16
16
Inter-segment adjustment
(238)
−
−
−
−
−
−
−
BHP Billiton Group
24,860
8,339
(409)
7,930
99,543
6,361
409
342
Year ended
Profit from
Net
30 June 2014
Underlying Exceptional operations operating
Capital Exploration Exploration
(ii)
(iii)
Revenue
EBIT
items
(EBIT)
assets expenditure(iv)
gross(v)
to profit(vi)
US$ million
Petroleum and Potash
14,833
5,287
−
5,287
39,514
6,423
647
544
Copper
12,789
4,668
551
5,219
21,997
3,697
111
111
Iron Ore
21,356
12,102
−
12,102
23,390
2,949
169
56
Coal
6,563
575
−
575
11,909
1,971
29
29
Group and unallocated items(vii)
1,696
(534)
−
(534)
1,232
184
30
30
Inter-segment adjustment
(475)
−
−
−
−
−
−
−
BHP Billiton Group
56,762
22,098
551
22,649
98,042
15,224
986
770
(i)
Group and business level information is reported on a statutory basis which, in relation to Underlying EBIT, includes net finance costs and
taxation expense related to equity accounted investments.
(ii)
Revenue is based on Group realised prices and includes third party products. Sale of third party products by the Group contributed
revenue of US$630 million and Underlying EBIT of US$1 million (30 June 2014: US$1,717 million and US$15 million).
(iii)
Underlying EBIT is earnings before net finance costs, taxation expense, discontinued operations and any exceptional items. Underlying
EBIT includes the Group’s share of net finance costs and taxation expense of US$270 million related to equity accounted investments (30
June 2014: net finance costs and taxation expense of US$528 million).
(iv)
Capital expenditure is presented on a cash basis and excludes capitalised interest and capitalised exploration.
(v)
Includes US$59 million capitalised exploration (30 June 2014: US$288 million).
(vi)
Includes a net reversal of US$8 million exploration expenditure previously capitalised, written off as impaired (included in depreciation and
amortisation) (30 June 2014: US$72 million exploration expenditure previously capitalised, written off as impaired).
(vii) Includes Group Functions, Nickel West (previously disclosed in the former Aluminium, Manganese and Nickel Business), other unallocated
operations, consolidation adjustments and external sales of freight and fuel to third parties. Includes Nickel West revenue US$792 million
(30 June 2014: US$1,605 million), Underlying EBIT US$6 million (30 June 2014: (US$208) million) including depreciation and amortisation
US$65 million (30 June 2014: US$117 million), exceptional items (US$409) million (30 June 2014: nil), Profit from operations (EBIT)
(US$403) million (30 June 2014: (US$208) million), net operating assets US$80 million (30 June 2014: US$534 million), capital
expenditure US$55 million (30 June 2014: US$163 million).
12
BHP Billiton restated supplementary financial information
Financial information for the Petroleum and Potash Business for the December 2014 half year and the June 2014
financial year is presented below.
Half year ended
31 December 2014
US$ million
Bass Strait
North West Shelf
Atlantis
Shenzi
Mad Dog
Onshore US(iv)
Algeria
UK
Exploration
Other(v)
Total Petroleum
Potash
Other(vi)
Total Petroleum and
Potash from Group
production
Third party products
Total Petroleum and
Potash
Statutory adjustments(vii)
Total Petroleum and
Potash statutory result
Year ended
30 June 2014
US$ million
Bass Strait
North West Shelf(viii)
Atlantis
Shenzi
Mad Dog
Onshore US
Algeria
UK(ix)
Exploration
Other(v)
Total Petroleum
Potash
Other(vi)
Total Petroleum and
Potash from Group
production
Third party products
Total Petroleum and
Potash
Statutory adjustments(vii)
Total Petroleum and
Potash statutory result
Net
operating
Capital
assets expenditure
3,040
191
1,892
71
2,196
174
1,435
97
578
48
26,329
1,923
106
11
(89)
−
531
−
1,466
89
37,484
2,604
2,507
221
(1,002)
−
Underlying
EBITDA
719
860
641
555
51
1,385
171
14
(244)
699
4,851
(109)
19
D&A
72
101
192
147
15
1,747
19
32
43
246
2,614
3
−
Underlying
EBIT
647
759
449
408
36
(362)
152
(18)
(287)
453
2,237
(112)
19
6,900
44
4,761
−
2,617
−
2,144
−
38,989
−
6,944
(8)
4,761
(2)
2,617
(2)
2,144
−
6,936
4,759
2,615
2,144
Underlying
EBITDA
1,555
1,599
1,407
1,281
171
2,270
396
70
(369)
1,744
10,124
(211)
(298)
D&A
132
175
335
243
16
2,426
30
52
113
735
4,257
74
−
Underlying
EBIT
1,423
1,424
1,072
1,038
155
(156)
366
18
(482)
1,009
5,867
(285)
(298)
14,410
437
9,615
3
4,331
−
5,284
3
39,514
−
14,847
(14)
9,618
(3)
4,331
(3)
5,287
−
14,833
9,615
4,328
5,287
Revenue(i)
860
1,157
701
611
105
2,380
203
21
−
862
6,900
−
−
Revenue(i)
1,885
2,432
1,535
1,430
217
4,264
465
155
−
2,027
14,410
−
−
Exploration
Exploration
gross(ii)
to profit(iii)
268
1
−
256
1
−
2,825
−
269
257
38,989
−
2,825
−
269
−
257
−
38,989
2,825
269
257
Net
operating
Capital
assets expenditure
2,864
259
1,691
193
2,272
409
1,598
306
461
83
26,945
4,226
104
19
(38)
15
464
−
1,907
369
38,268
5,879
2,255
544
(1,009)
−
Exploration
Exploration
gross(ii)
to profit(iii)
600
47
−
497
47
−
6,423
−
647
544
39,514
−
6,423
−
647
−
544
−
39,514
6,423
647
544
(i)
Petroleum revenue from Group production includes: crude oil US$4,001 million (30 June 2014: US$8,645 million), natural gas US$1,439
million (30 June 2014: US$3,119 million), LNG US$833 million (30 June 2014: US$1,614 million), NGL US$429 million (30 June 2014:
US$916 million) and other US$190 million (30 June 2014: US$102 million).
(ii)
Includes US$24 million of capitalised exploration (30 June 2014: US$231 million).
(iii)
Includes US$12 million of exploration expenditure previously capitalised, written off as impaired (included in depreciation and amortisation)
(30 June 2014: US$128 million).
(iv)
Includes US$328 million of impairments as a result of the divestment of assets in North Louisiana and the Pecos field in the Permian.
(v)
Includes Macedon, Pyrenees, Stybarrow, Neptune, Minerva, Angostura, Genesis, Pakistan, divisional activities and business
development. Also includes the Caesar oil pipeline and the Cleopatra gas pipeline which are equity accounted investments and are
reported on a proportionate consolidation basis (with the exception of net operating assets).
13
BHP Billiton restated supplementary financial information
(vi)
Includes closed mining and smelting operations in Canada and the United States.
(vii) Includes statutory adjustments for the Caesar oil pipeline and the Cleopatra gas pipeline to reconcile the proportionately consolidated
business total to the statutory result.
(viii) Includes an expense of US$143 million incurred in May 2014 related to the purchase price adjustment for the Browse Asset sale
completed in the 2013 financial year.
(ix)
Includes an expense of US$112 million incurred in November 2013 related to the closure of the UK pension plan. Also includes a gain of
US$120 million related to the sale of the Liverpool Bay Asset in March 2014.
14
BHP Billiton restated supplementary financial information
Financial information for the Copper Business for the December 2014 half year and the June 2014 financial year is
presented below.
Half year ended
31 December 2014
US$ million
Escondida(i)
Pampa Norte(ii)
Antamina(iii)
Olympic Dam
Other(iii) (iv)
Total Copper from
Group production
Third party products
Total Copper
Statutory adjustments(v)
Total Copper
statutory result
Year ended
30 June 2014
US$ million
Escondida(i)
Pampa Norte(ii)
Antamina(iii)
Olympic Dam
Other(iii) (iv)
Total Copper from
Group production
Third party products
Total Copper
Statutory adjustments(v)
Total Copper
statutory result
Net
Capital
operating
assets expenditure
12,862
1,671
2,400
95
1,391
101
6,408
131
(26)
−
Revenue
3,720
794
467
797
−
Underlying
EBITDA
2,127
447
250
138
(58)
D&A
418
222
52
132
4
Underlying
EBIT
1,709
225
198
6
(62)
5,778
470
6,248
(467)
2,904
11
2,915
(94)
828
−
828
(53)
2,076
11
2,087
(41)
23,035
−
23,035
−
5,781
2,821
775
2,046
23,035
Revenue
8,085
1,796
1,261
1,777
101
Underlying
EBITDA
4,754
785
818
299
(193)
D&A
760
429
84
265
7
Underlying
EBIT
3,994
356
734
34
(200)
13,020
1,030
14,050
(1,261)
6,463
8
6,471
(344)
1,545
−
1,545
(86)
4,918
8
4,926
(258)
21,997
−
21,997
−
12,789
6,127
1,459
4,668
21,997
Exploration
gross
Exploration
to profit
1,998
−
1,998
(101)
42
(1)
42
(1)
1,897
41
41
Exploration
gross
Exploration
to profit
3,964
−
3,964
(267)
113
(2)
113
(2)
3,697
111
111
Net
operating
Capital
assets expenditure
11,779
3,186
2,575
336
1,341
262
6,320
167
(18)
13
(i)
Escondida is consolidated under IFRS 10 and reported on a 100 per cent basis.
(ii)
Includes Spence and Cerro Colorado.
(iii)
Antamina and Resolution are equity accounted investments and are reported on a proportionate consolidation basis (with the exception of
net operating assets).
(iv)
Predominantly comprises divisional activities, greenfield exploration, business development and ceased and sold operations. Includes
Pinto Valley and Resolution. Pinto Valley was sold effective 11 October 2013.
(v)
Includes statutory adjustments for Antamina and Resolution to reconcile the proportionately consolidated business total to the statutory
result. Statutory Underlying EBIT includes net finance costs and taxation expense of US$41 million (30 June 2014: net finance costs and
taxation expense of US$258 million).
15
BHP Billiton restated supplementary financial information
Financial information for the Iron Ore Business for the December 2014 half year and the June 2014 financial year is
presented below.
Half year ended
31 December 2014
US$ million
Western Australia Iron Ore
Samarco(i)
Other(ii)
Total Iron Ore from
Group production
Third party products(iii)
Total Iron Ore
Statutory adjustments(iv)
Total Iron Ore
statutory result
Year ended
30 June 2014
US$ million
Western Australia Iron Ore(v)
Samarco(i)
Other(ii) (v)
Total Iron Ore from
Group production
Third party products(iii)
Total Iron Ore
Statutory adjustments(iv)
Total Iron Ore
statutory result
(i)
Net
operating
Capital
assets expenditure
23,289
1,090
1,036
165
108
14
Revenue
8,193
828
73
Underlying
EBITDA
4,778
420
4
D&A
791
54
1
Underlying
EBIT
3,987
366
3
9,094
152
9,246
(828)
5,202
(5)
5,197
(205)
846
−
846
(54)
4,356
(5)
4,351
(151)
24,433
−
24,433
−
8,418
4,992
792
4,200
24,433
Revenue
20,883
1,634
130
Underlying
EBITDA
12,966
846
(32)
D&A
1,427
56
2
Underlying
EBIT
11,539
790
(34)
22,647
343
22,990
(1,634)
13,780
(3)
13,777
(246)
1,485
−
1,485
(56)
12,295
(3)
12,292
(190)
23,390
−
23,390
−
21,356
13,531
1,429
12,102
23,390
Exploration
gross
Exploration
to profit
1,269
−
1,269
(165)
71
−
16
−
1,104
71
16
Exploration
gross
Exploration
to profit
3,371
−
3,371
(422)
169
−
56
−
2,949
169
56
Net
operating
Capital
assets expenditure
22,223
2,947
1,072
424
95
−
Samarco is an equity accounted investment and is reported on a proportionate consolidation basis (with the exception of net operating
assets).
(ii)
Predominantly comprises divisional activities, towage services, business development and ceased operations.
(iii)
Includes inter-segment and external sales of contracted gas purchases.
(iv)
Includes statutory adjustments for Samarco to reconcile the proportionately consolidated business total to the statutory result. Statutory
Underlying EBIT includes net finance costs and taxation expense of US$151 million (30 June 2014: net finance costs and taxation
expense of US$190 million).
(v)
The 30 June 2014 period has been restated to reallocate towage services from West Australia Iron Ore to Other.
16
BHP Billiton restated supplementary financial information
Financial information for the Coal Business for the December 2014 half year and the June 2014 financial year is
presented below.
Half year ended
31 December 2014
US$ million
Queensland Coal
New Mexico
New South Wales Energy Coal(i)
Colombia(i)
Other(ii)
Total Coal from Group
production
Third party products
Total Coal
Statutory adjustments(iii)
Total Coal
statutory result
Year ended
30 June 2014
US$ million
Queensland Coal
New Mexico
New South Wales Energy Coal(i)
Colombia(i)
Other(ii)
Total Coal from Group
production
Third party products
Total Coal
Statutory adjustments(iii)
Total Coal
statutory result
Underlying
EBITDA
Revenue
2,251
478
298
86
640
136
383
121
−
(64)
D&A
331
23
78
56
1
Underlying
EBIT
147
63
58
65
(65)
Net
Capital
operating
assets expenditure
9,450
369
250
13
1,419
108
938
54
183
8
Exploration
gross
Exploration
to profit
3,572
7
3,579
(436)
757
−
757
(199)
489
−
489
(70)
268
−
268
(129)
12,240
1
12,241
−
552
−
552
(74)
12
−
12
−
3,143
558
419
139
12,241
478
12
12
D&A
514
46
150
85
2
Underlying
EBIT
435
59
174
220
(168)
Exploration
gross
Exploration
to profit
Underlying
EBITDA
Revenue
4,666
949
520
105
1,350
324
814
305
−
(166)
Net
operating
Capital
assets expenditure
9,115
1,790
202
26
1,392
170
1,037
133
162
34
7,350
27
7,377
(814)
1,517
−
1,517
(259)
797
−
797
(114)
720
−
720
(145)
11,908
1
11,909
−
2,153
−
2,153
(182)
29
−
29
−
6,563
1,258
683
575
11,909
1,971
29
29
(i)
Cerrejón and Newcastle Coal Infrastructure Group are equity accounted investments and are reported on a proportionate consolidation
basis (with the exception of net operating assets).
(ii)
Predominantly comprises divisional activities and greenfield projects.
(iii)
Includes statutory adjustments for Cerrejón and Newcastle Coal Infrastructure Group to reconcile the proportionately consolidated
business total to the statutory result. Statutory Underlying EBIT includes net finance costs and taxation expense of US$78 million (30 June
2014: net finance costs and taxation expense of US$80 million).
17