FORM 6-K
Table of Contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

July 22, 2015

 

 

 

BHP BILLITON LIMITED

(ABN 49 004 028 077)

(Exact name of Registrant as specified in its charter)

 

VICTORIA, AUSTRALIA

(Jurisdiction of incorporation or organisation)

 

BHP BILLITON PLC

(REG. NO. 3196209)

(Exact name of Registrant as specified in its charter)

 

ENGLAND AND WALES

(Jurisdiction of incorporation or organisation)

171 COLLINS STREET, MELBOURNE,

VICTORIA

3000 AUSTRALIA

(Address of principal executive offices)

 

NEATHOUSE PLACE, VICTORIA, LONDON,

UNITED KINGDOM

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:  x Form 20-F    ¨ Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  ¨

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934:  ¨ Yes    x No

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): n/a

 

 


Table of Contents
LOGO

 

BHP Billiton Limited BHP Billiton Plc
171 Collins Street Neathouse Place
Melbourne Victoria 3000 Australia London SW1V 1LH UK
GPO BOX 86 Tel +44 20 7802 4000
Melbourne Victoria 3001 Australia Fax + 44 20 7802 4111
Tel +61 1300 55 47 57 Fax +61 3 9609 3015     bhpbilliton.com
bhpbilliton.com

22 July 2015

 

To: Australian Securities Exchange cc: New York Stock Exchange
London 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.

 

LOGO

Rachel Agnew

Company Secretary

 

BHP Billiton Limited ABN 49 004 028 077 BHP Billiton Plc Registration number 3196209
Registered in Australia Registered in England and Wales
Registered Office: 171 Collins Street Melbourne Victoria 3000 Registered Office: Neathouse Place, London SW1V 1LH United Kingdom

The BHP Billiton Group is headquartered in Australia


Table of Contents

LOGO

Bhpbilliton
resourcing the future
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


Table of Contents

BHP Billiton restated financial information

 

Contents

 

     Page  

Restated financial information

  

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


Table of Contents

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


Table of Contents

BHP Billiton restated financial information

 

 

Consolidated Income Statement – Restated

 

     Year ended
30 June 2014
    Year ended
30 June 2013
    Half year ended
31 Dec 2014
 
     US$M     US$M     US$M  

Continuing operations

      

Revenue

      

Group production

     55,045        52,637        24,230   

Third party products

     1,717        1,223        630   
  

 

 

   

 

 

   

 

 

 

Revenue

  56,762      53,860      24,860   

Other income

  1,225      3,804      284   

Expenses excluding net finance costs

  (36,523   (36,829   (17,549

Share of operating profit of equity accounted investments

  1,185      1,142      335   
  

 

 

   

 

 

   

 

 

 

Profit from operations

  22,649      21,977      7,930   
  

 

 

   

 

 

   

 

 

 

Comprising:

Group production

  22,634      21,913      7,929   

Third party products

  15      64      1   
  

 

 

   

 

 

   

 

 

 
  22,649      21,977      7,930   
  

 

 

   

 

 

   

 

 

 

Financial income

  81      80      41   

Financial expenses

  (995   (1,229   (275
  

 

 

   

 

 

   

 

 

 

Net finance costs

  (914   (1,149   (234
  

 

 

   

 

 

   

 

 

 
    
  

 

 

   

 

 

   

 

 

 

Profit before taxation

  21,735      20,828      7,696   
  

 

 

   

 

 

   

 

 

 

Income tax expense

  (6,266   (5,646   (2,456

Royalty-related taxation (net of income tax benefit)

  (514   (1,050   (848
  

 

 

   

 

 

   

 

 

 

Total taxation expense

  (6,780   (6,696   (3,304
  

 

 

   

 

 

   

 

 

 
    
  

 

 

   

 

 

   

 

 

 

Profit after taxation from continuing operations

  14,955      14,132      4,392   
  

 

 

   

 

 

   

 

 

 

Profit/(loss) after taxation from discontinued operations

  269      (1,312   401   
  

 

 

   

 

 

   

 

 

 

Profit after taxation

  15,224      12,820      4,793   
  

 

 

   

 

 

   

 

 

 

Attributable to non-controlling interests

  1,392      1,597      528   

Attributable to members of BHP Billiton Group

  13,832      11,223      4,265   
  

 

 

   

 

 

   

 

 

 

Earnings per ordinary share (basic) (US cents)

  260.0      210.9      80.2   

Earnings per ordinary share (diluted) (US cents)

  259.1      210.2      80.0   

Earnings from continuing operations per ordinary share (basic) (US cents)

  256.5      238.6      73.6   

Earnings from continuing operations per ordinary share (diluted) (US cents)

  255.7      237.8      73.4   
  

 

 

   

 

 

   

 

 

 

Dividends per ordinary share – paid during the period (US cents)

  118.0      114.0      62.0   

Dividends per ordinary share – determined in respect of the period (US cents)

  121.0      116.0      62.0   
  

 

 

   

 

 

   

 

 

 

 

4


Table of Contents

BHP Billiton restated financial information

 

 

Consolidated Statement of Comprehensive Income

 

     Year ended
30 June 2014
    Year ended
30 June 2013
    Half year ended
31 Dec 2014
 
     US$M     US$M     US$M  

Profit after taxation

     15,224        12,820        4,793   

Other comprehensive income

      

Items that may be reclassified subsequently to the income statement:

      

Available for sale investments:

      

Net valuation losses taken to equity

     (15     (101     (19

Net valuation gains transferred to the income statement

     (14     (1     (1

Cash flow hedges:

      

Gains/(losses) taken to equity

     681        223        (1,296

(Gains)/losses transferred to the income statement

     (678     73        1,283   

Exchange fluctuations on translation of foreign operations taken to equity

     (1     2        (2

Tax recognised within other comprehensive income

     3        (76     6   
  

 

 

   

 

 

   

 

 

 

Total items that may be reclassified subsequently to the income statement

  (24   120      (29
  

 

 

   

 

 

   

 

 

 

Items that will not be reclassified to the income statement:

Actuarial gains/(losses) on pension and medical schemes

  57      61      (29

Tax recognised within other comprehensive income

  12      (16   13   
  

 

 

   

 

 

   

 

 

 

Total items that will not be reclassified to the income statement

  69      45      (16
  

 

 

   

 

 

   

 

 

 

    

  

 

 

   

 

 

   

 

 

 

Total other comprehensive income/(loss)

  45      165      (45
  

 

 

   

 

 

   

 

 

 

    

  

 

 

   

 

 

   

 

 

 

Total comprehensive income

  15,269      12,985      4,748   
  

 

 

   

 

 

   

 

 

 

Attributable to non-controlling interests

  1,392      1,599      533   

Attributable to members of BHP Billiton Group

  13,877      11,386      4,215   
  

 

 

   

 

 

   

 

 

 

 

5


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BHP Billiton restated financial information

 

 

Consolidated Balance Sheet

 

     30 June 2014     30 June 2013     31 Dec 2014  
     US$M     US$M     US$M  

ASSETS

      

Current assets

      

Cash and cash equivalents

     8,803        5,677        6,130   

Trade and other receivables

     6,741        6,310        5,584   

Other financial assets

     87        161        81   

Inventories

     6,013        5,821        6,149   

Assets classified as held for sale

     —          286        —     

Current tax assets

     318        267        630   

Other

     334        431        327   
  

 

 

   

 

 

   

 

 

 

Total current assets

  22,296      18,953      18,901   
  

 

 

   

 

 

   

 

 

 

Non-current assets

Trade and other receivables

  1,867      1,998      1,716   

Other financial assets

  2,349      1,719      2,150   

Inventories

  463      619      476   

Property, plant and equipment

  108,787      100,565      108,771   

Intangible assets

  5,439      5,496      5,289   

Investments accounted for using the equity method

  3,664      3,675      3,550   

Deferred tax assets

  6,396      6,069      5,080   

Other

  152      84      148   
  

 

 

   

 

 

   

 

 

 

Total non-current assets

  129,117      120,225      127,180   
  

 

 

   

 

 

   

 

 

 

Total assets

  151,413      139,178      146,081   
  

 

 

   

 

 

   

 

 

 

LIABILITIES

Current liabilities

Trade and other payables

  10,145      10,860      8,338   

Interest bearing liabilities

  4,262      5,088      2,459   

Liabilities classified as held for sale

  —        220      —     

Other financial liabilities

  16      210      14   

Current tax payable

  919      1,158      407   

Provisions

  2,504      2,372      1,943   

Deferred income

  218      231      189   
  

 

 

   

 

 

   

 

 

 

Total current liabilities

  18,064      20,139      13,350   
  

 

 

   

 

 

   

 

 

 

Non-current liabilities

Trade and other payables

  113      286      77   

Interest bearing liabilities

  30,327      28,099      28,610   

Other financial liabilities

  303      582      559   

Deferred tax liabilities

  7,066      6,312      7,493   

Provisions

  9,891      8,178      9,467   

Deferred income

  267      291      275   
  

 

 

   

 

 

   

 

 

 

Total non-current liabilities

  47,967      43,748      46,481   
  

 

 

   

 

 

   

 

 

 

Total liabilities

  66,031      63,887      59,831   
  

 

 

   

 

 

   

 

 

 

Net assets

  85,382      75,291      86,250   
  

 

 

   

 

 

   

 

 

 

EQUITY

Share capital – BHP Billiton Limited

  1,186      1,186      1,186   

Share capital – BHP Billiton Plc

  1,069      1,069      1,057   

Treasury shares

  (587   (540   (230

Reserves

  2,927      1,970      2,842   

Retained earnings

  74,548      66,982      74,990   
  

 

 

   

 

 

   

 

 

 

Total equity attributable to members of BHP Billiton Group

  79,143      70,667      79,845   

Non-controlling interests

  6,239      4,624      6,405   
  

 

 

   

 

 

   

 

 

 

Total equity

  85,382      75,291      86,250   
  

 

 

   

 

 

   

 

 

 

 

6


Table of Contents

BHP Billiton restated financial information

 

 

Consolidated Cash Flow Statement – Restated

 

     Year ended
30 June 2014
    Year ended
30 June 2013
    Half year ended
31 Dec 2014
 
     US$M     US$M     US$M  

Operating activities

      

Profit before taxation

     21,735        20,828        7,696   

Adjustments for:

      

Non-cash or non-operating exceptional items

     (551     (331     409   

Depreciation and amortisation expense

     7,716        6,067        4,401   

Net gain on sale of non-current assets

     (73     (17     (33

Impairments of property, plant and equipment, financial assets and intangibles

     478        344        361   

Employee share awards expense

     247        210        116   

Net finance costs

     914        1,149        234   

Share of operating profit of equity accounted investments

     (1,185     (1,142     (335

Other

     (79     5        85   

Changes in assets and liabilities:

      

Trade and other receivables

     (349     904        1,008   

Inventories

     (158     (276     (189

Trade and other payables

     238        (239     (1,210

Net other financial assets and liabilities

     (90     89        (8

Provisions and other liabilities

     475        (565     (589
  

 

 

   

 

 

   

 

 

 

Cash generated from operations

  29,318      27,026      11,946   

Dividends received

  14      6      4   

Dividends received from equity accounted investments

  1,250      710      476   

Interest received

  120      112      45   

Interest paid

  (915   (960   (310

Income tax refunded

  848      —        329   

Income tax paid

  (6,123   (6,921   (2,013

Royalty-related taxation refunded

  216      —        —     

Royalty-related taxation paid

  (1,088   (956   (861
  

 

 

   

 

 

   

 

 

 

Net operating cash flows from continuing operations

  23,640      19,017      9,616   
  

 

 

   

 

 

   

 

 

 

Net operating cash flows from discontinued operations

  1,724      1,137      807   
  

 

 

   

 

 

   

 

 

 

Net operating cash flows

  25,364      20,154      10,423   
  

 

 

   

 

 

   

 

 

 

Investing activities

Purchases of property, plant and equipment

  (15,224   (21,104   (6,361

Exploration expenditure

  (986   (1,321   (409

Exploration expenditure expensed and included in operating cash flows

  698      1,026      350   

Purchase of intangibles

  (192   (380   (64

Investment in financial assets

  (1,168   (455   (18

Investment in equity accounted investments

  (44   (84   (25
  

 

 

   

 

 

   

 

 

 

Cash outflows from investing activities

  (16,916   (22,318   (6,527

Proceeds from sale of property, plant and equipment

  66      2,274      41   

Proceeds from financial assets

  904      221      333   

Proceeds from divestment of subsidiaries, operations and joint operations, net of their cash

  812      502      251   

Proceeds from sale or partial sale of equity accounted investments

  —        1,700      —     
  

 

 

   

 

 

   

 

 

 

Net investing cash flows from continuing operations

  (15,134   (17,621   (5,902
  

 

 

   

 

 

   

 

 

 

Net investing cash flows from discontinued operations

  (700   (1,105   (415
  

 

 

   

 

 

   

 

 

 

Net investing cash flows

  (15,834   (18,726   (6,317
  

 

 

   

 

 

   

 

 

 

Financing activities

Proceeds from interest bearing liabilities

  6,000      9,143      341   

Proceeds from debt related instruments

  37      14      —     

Repayment of interest bearing liabilities

  (7,048   (1,902   (2,953

Proceeds from ordinary shares

  14      12      3   

Contributions from non-controlling interests

  1,435      73      46   

Purchase of shares by Employee Share Ownership Plan (ESOP) Trusts

  (368   (445   (338

Dividends paid

  (6,387   (6,167   (3,209

Dividends paid to non-controlling interests

  (119   (778   (327
  

 

 

   

 

 

   

 

 

 

Net financing cash flows from continuing operations

  (6,436   (50   (6,437
  

 

 

   

 

 

   

 

 

 

Net financing cash flows from discontinued operations

  (32   (148   (322
  

 

 

   

 

 

   

 

 

 

Net financing cash flows

  (6,468   (198   (6,759
  

 

 

   

 

 

   

 

 

 

Net increase/(decrease) in cash and cash equivalents

  3,062      1,230      (2,653

Cash and cash equivalents, net of overdrafts, at beginning of period

  5,667      4,454      8,752   

Effect of foreign currency exchange rate changes on cash and cash equivalents

  23      (17   19   
  

 

 

   

 

 

   

 

 

 

Cash and cash equivalents, net of overdrafts, at end of period

  8,752      5,667      6,118   
  

 

 

   

 

 

   

 

 

 

 

7


Table of Contents

BHP Billiton restated financial information

 

 

Consolidated Statement of Changes in Equity

 

For the year ended 30 June 2014

US$M

  Attributable to members of the BHP Billiton Group     Non-
controlling
interests
    Total
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
     

Balance as at 1 July 2013

    1,186        1,069        (540     1,970        66,982        70,667        4,624        75,291   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Profit after taxation

  —        —        —        —        13,832      13,832      1,392      15,224   

Other comprehensive income:

Net valuation losses on available for sale investments taken to equity

  —        —        —        (15   —        (15   —        (15

Net valuation gains on available for sale investments transferred to the income statement

  —        —        —        (14   —        (14   —        (14

Gains on cash flow hedges taken to equity

  —        —        —        681      —        681      —        681   

Gains on cash flow hedges transferred to the income statement

  —        —        —        (678   —        (678   —        (678

Exchange fluctuations on translation of foreign operations taken to equity

  —        —        —        (1   —        (1   —        (1

Actuarial gains on pension and medical schemes

  —        —        —        —        57      57      —        57   

Tax recognised within other comprehensive income

  —        —        —        3      12      15      —        15   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total comprehensive income

  —        —        —        (24   13,901      13,877      1,392      15,269   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Transactions with owners:

Purchase of shares by ESOP Trusts

  —        —        (368   —        —        (368   —        (368

Employee share awards exercised net of employee contributions

  —        —        321      (221   (91   9      —        9   

Employee share awards forfeited

  —        —        —        (32   32      —        —        —     

Accrued employee entitlement for unexercised awards

  —        —        —        247      —        247      —        247   

Distribution to option holders

  —        —        —        (2   —        (2   (2   (4

Dividends

  —        —        —        —        (6,276   (6,276   (252   (6,528

Equity contributed

  —        —        —        989      —        989      477      1,466   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Balance as at 30 June 2014

  1,186      1,069      (587   2,927      74,548      79,143      6,239      85,382   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

8


Table of Contents

BHP Billiton restated financial information

 

 

Consolidated Statement of Changes in Equity

 

For the year ended 30 June 2013

US$M

  Attributable to members of the BHP Billiton Group     Non-
controlling
interests
    Total
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
     

Balance as at 1 July 2012

    1,186        1,069        (533     1,912        61,892        65,526        3,789        69,315   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Profit after taxation

  —        —        —        —        11,223      11,223      1,597      12,820   

Other comprehensive income:

Net valuation (losses)/gains on available for sale investments taken to equity

  —        —        —        (103   —        (103   2      (101

Net valuation gains on available for sale investments transferred to the income statement

  —        —        —        (1   —        (1   —        (1

Gains on cash flow hedges taken to equity

  —        —        —        223      —        223      —        223   

Losses on cash flow hedges transferred to the income statement

  —        —        —        73      —        73      —        73   

Exchange fluctuations on translation of foreign operations taken to equity

  —        —        —        2      —        2      —        2   

Actuarial gains on pension and medical schemes

  —        —        —        —        60      60      1      61   

Tax recognised within other comprehensive income

  —        —        —        (117   26      (91   (1   (92
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total comprehensive income

  —        —        —        77      11,309      11,386      1,599      12,985   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Transactions with owners:

Purchase of shares by ESOP Trusts

  —        —        (445   —        —        (445   —        (445

Employee share awards exercised net of employee contributions

  —        —        438      (243   (178   17      —        17   

Employee share awards forfeited

  —        —        —        (17   17      —        —        —     

Accrued employee entitlement for unexercised awards

  —        —        —        210      —        210      —        210   

Issue of share options to non-controlling interests

  —        —        —        49      —        49      —        49   

Dividends

  —        —        —        —        (6,076   (6,076   (837   (6,913

Equity contributed

  —        —        —        —        —        —        73      73   

Divestment of equity accounted investment

  —        —        —        (18   18      —        —        —     
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Balance as at 30 June 2013

  1,186      1,069      (540   1,970      66,982      70,667      4,624      75,291   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

9


Table of Contents

BHP Billiton restated financial information

 

 

Consolidated Statement of Changes in Equity

 

For the half year ended 31 December 2014

US$M

  Attributable to members of the BHP Billiton Group     Non-
controlling
interests
    Total
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
     

Balance as at 1 July 2014

    1,186        1,069        (587     2,927        74,548        79,143        6,239        85,382   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Profit after taxation

  —        —        —        —        4,265      4,265      528      4,793   

Other comprehensive income:

Net valuation (losses)/gains on available for sale investments taken to equity

  —        —        —        (25   —        (25   6      (19

Net valuation gains on available for sale investments transferred to the income statement

  —        —        —        (1   —        (1   —        (1

Losses on cash flow hedges taken to equity

  —        —        —        (1,296   —        (1,296   —        (1,296

Losses on cash flow hedges transferred to the income statement

  —        —        —        1,283      —        1,283      —        1,283   

Exchange fluctuations on translation of foreign operations taken to equity

  —        —        —        (2   —        (2   —        (2

Actuarial losses on pension and medical schemes

  —        —        —        —        (29   (29   —        (29

Tax recognised within other comprehensive income

  —        —        —        7      13      20      (1   19   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total comprehensive income

  —        —        —        (34   4,249      4,215      533      4,748   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Transactions with owners:

Shares cancelled

  —        (12   501      12      (501   —        —        —     

Purchase of shares by ESOP Trusts

  —        —        (338   —        —        (338   —        (338

Employee share awards exercised net of employee contributions

  —        —        194      (174   (18   2      —        2   

Employee share awards forfeited

  —        —        —        (4   4      —        —        —     

Accrued employee entitlement for unexercised awards

  —        —        —        116      —        116      —        116   

Distribution to option holders

  —        —        —        (1   —        (1   (1   (2

Dividends

  —        —        —        —        (3,292   (3,292   (412   (3,704

Equity contributed

  —        —        —        —        —        —        46      46   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Balance as at 31 December 2014

  1,186      1,057      (230   2,842      74,990      79,845      6,405      86,250   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

10


Table of Contents

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


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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 31 December 2014

US$ million

  Revenue (ii)     Underlying
EBIT
(iii)
    Exceptional
items
    Profit from
operations
(EBIT)
    Net
operating
assets
    Capital
expenditure
 (iv)
    Exploration
gross 
(v)
    Exploration
to profit 
(vi)
 

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 30 June 2014

US$ million

  Revenue (ii)     Underlying
EBIT 
(iii)
    Exceptional
items
    Profit from
operations
(EBIT)
    Net
operating
assets
    Capital
expenditure (iv)
    Exploration
gross 
(v)
    Exploration
to profit 
(vi)
 

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


Table of Contents

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

   Revenue (i)     Underlying
EBITDA
    D&A     Underlying
EBIT
    Net
operating
assets
    Capital
expenditure
     Exploration
gross 
(ii)
     Exploration
to profit 
(iii)
 

Bass Strait

     860        719        72        647        3,040        191         

North West Shelf

     1,157        860        101        759        1,892        71         

Atlantis

     701        641        192        449        2,196        174         

Shenzi

     611        555        147        408        1,435        97         

Mad Dog

     105        51        15        36        578        48         

Onshore US (iv)

     2,380        1,385        1,747        (362     26,329        1,923         

Algeria

     203        171        19        152        106        11         

UK

     21        14        32        (18     (89     —           

Exploration

     —          (244     43        (287     531        —           

Other (v)

     862        699        246        453        1,466        89         
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

    

 

 

 

Total Petroleum

  6,900      4,851      2,614      2,237      37,484      2,604      268      256   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

    

 

 

 

Potash

  —        (109   3      (112   2,507      221      1      1   

Other (vi)

  —        19      —        19      (1,002   —        —        —     
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

    

 

 

 

Total Petroleum and Potash from Group production

  6,900      4,761      2,617      2,144      38,989      2,825      269      257   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

    

 

 

 

Third party products

  44      —        —        —        —        —     
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

    

 

 

 

Total Petroleum and Potash

  6,944      4,761      2,617      2,144      38,989      2,825      269      257   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

    

 

 

 

Statutory adjustments (vii)

  (8   (2   (2   —        —        —        —        —     
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

    

 

 

 

Total Petroleum and Potash statutory result

  6,936      4,759      2,615      2,144      38,989      2,825      269      257   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

    

 

 

 

Year ended 30 June 2014

US$ million

   Revenue (i)     Underlying
EBITDA
    D&A     Underlying
EBIT
    Net
operating
assets
    Capital
expenditure
     Exploration
gross 
(ii)
     Exploration
to profit
(iii)
 

Bass Strait

     1,885        1,555        132        1,423        2,864        259         

North West Shelf (viii)

     2,432        1,599        175        1,424        1,691        193         

Atlantis

     1,535        1,407        335        1,072        2,272        409         

Shenzi

     1,430        1,281        243        1,038        1,598        306         

Mad Dog

     217        171        16        155        461        83         

Onshore US

     4,264        2,270        2,426        (156     26,945        4,226         

Algeria

     465        396        30        366        104        19         

UK (ix)

     155        70        52        18        (38     15         

Exploration

     —          (369     113        (482     464        —           

Other (v)

     2,027        1,744        735        1,009        1,907        369         
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

    

 

 

 

Total Petroleum

  14,410      10,124      4,257      5,867      38,268      5,879      600      497   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

    

 

 

 

Potash

  —        (211   74      (285   2,255      544      47      47   

Other (vi)

  —        (298   —        (298   (1,009   —        —        —     
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

    

 

 

 

Total Petroleum and Potash from Group production

  14,410      9,615      4,331      5,284      39,514      6,423      647      544   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

    

 

 

 

Third party products

  437      3      —        3      —        —     
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

    

 

 

 

Total Petroleum and Potash

  14,847      9,618      4,331      5,287      39,514      6,423      647      544   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

    

 

 

 

Statutory adjustments (vii)

  (14   (3   (3   —        —        —        —        —     
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

    

 

 

 

Total Petroleum and Potash statutory result

  14,833      9,615      4,328      5,287      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).

 

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Table of Contents

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


Table of Contents

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

   Revenue     Underlying
EBITDA
    D&A     Underlying
EBIT
    Net
operating
assets
    Capital
expenditure
    Exploration
gross
    Exploration
to profit
 

Escondida (i)

     3,720        2,127        418        1,709        12,862        1,671       

Pampa Norte (ii)

     794        447        222        225        2,400        95       

Antamina (iii)

     467        250        52        198        1,391        101       

Olympic Dam

     797        138        132        6        6,408        131       

Other (iii) (iv)

     —          (58     4        (62     (26     —         
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

     

Total Copper from Group production

  5,778      2,904      828      2,076      23,035      1,998   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

     

Third party products

  470      11      —        11      —        —     
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Copper

  6,248      2,915      828      2,087      23,035      1,998      42      42   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Statutory adjustments (v)

  (467   (94   (53   (41   —        (101   (1   (1
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Copper statutory result

  5,781      2,821      775      2,046      23,035      1,897      41      41   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

Year ended 30 June 2014

US$ million

   Revenue     Underlying
EBITDA
    D&A     Underlying
EBIT
    Net
operating
assets
    Capital
expenditure
    Exploration
gross
    Exploration
to profit
 

Escondida (i)

     8,085        4,754        760        3,994        11,779        3,186       

Pampa Norte (ii)

     1,796        785        429        356        2,575        336       

Antamina (iii)

     1,261        818        84        734        1,341        262       

Olympic Dam

     1,777        299        265        34        6,320        167       

Other (iii) (iv)

     101        (193     7        (200     (18     13       
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

     

Total Copper from Group production

  13,020      6,463      1,545      4,918      21,997      3,964   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

     

Third party products

  1,030      8      —        8      —        —     
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Copper

  14,050      6,471      1,545      4,926      21,997      3,964      113      113   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Statutory adjustments (v)

  (1,261   (344   (86   (258   —        (267   (2   (2
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Copper statutory result

  12,789      6,127      1,459      4,668      21,997      3,697      111      111   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

(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


Table of Contents

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

   Revenue     Underlying
EBITDA
    D&A     Underlying
EBIT
    Net
operating
assets
     Capital
expenditure
    Exploration
gross
     Exploration
to profit
 

Western Australia Iron Ore

     8,193        4,778        791        3,987        23,289         1,090        

Samarco (i)

     828        420        54        366        1,036         165        

Other (ii)

     73        4        1        3        108         14        
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

      

Total Iron Ore from Group production

  9,094      5,202      846      4,356      24,433      1,269   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

      

Third party products (iii)

  152      (5   —        (5   —        —     
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

   

 

 

    

 

 

 

Total Iron Ore

  9,246      5,197      846      4,351      24,433      1,269      71      16   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

   

 

 

    

 

 

 

Statutory adjustments (iv)

  (828   (205   (54   (151   —        (165   —        —     
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

   

 

 

    

 

 

 

Total Iron Ore statutory result

  8,418      4,992      792      4,200      24,433      1,104      71      16   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

   

 

 

    

 

 

 

Year ended 30 June 2014

US$ million

   Revenue     Underlying
EBITDA
    D&A     Underlying
EBIT
    Net
operating
assets
     Capital
expenditure
    Exploration
gross
     Exploration
to profit
 

Western Australia Iron Ore (v)

     20,883        12,966        1,427        11,539        22,223         2,947        

Samarco (i)

     1,634        846        56        790        1,072         424        

Other (ii) (v)

     130        (32     2        (34     95         —          
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

      

Total Iron Ore from Group production

  22,647      13,780      1,485      12,295      23,390      3,371   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

      

Third party products (iii)

  343      (3   —        (3   —        —     
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

   

 

 

    

 

 

 

Total Iron Ore

  22,990      13,777      1,485      12,292      23,390      3,371      169      56   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

   

 

 

    

 

 

 

Statutory adjustments (iv)

  (1,634   (246   (56   (190   —        (422   —        —     
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

   

 

 

    

 

 

 

Total Iron Ore statutory result

  21,356      13,531      1,429      12,102      23,390      2,949      169      56   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

   

 

 

    

 

 

 

 

(i) 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


Table of Contents

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

   Revenue     Underlying
EBITDA
    D&A     Underlying
EBIT
    Net
operating
assets
     Capital
expenditure
    Exploration
gross
     Exploration
to profit
 

Queensland Coal

     2,251        478        331        147        9,450         369        

New Mexico

     298        86        23        63        250         13        

New South Wales Energy Coal (i)

     640        136        78        58        1,419         108        

Colombia (i)

     383        121        56        65        938         54        

Other (ii)

     —          (64     1        (65     183         8        
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

      

Total Coal from Group production

  3,572      757      489      268      12,240      552   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

      

Third party products

  7      —        —        —        1      —     
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

   

 

 

    

 

 

 

Total Coal

  3,579      757      489      268      12,241      552      12      12   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

   

 

 

    

 

 

 

Statutory adjustments (iii)

  (436   (199   (70   (129   —        (74   —        —     
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

   

 

 

    

 

 

 

Total Coal statutory result

  3,143      558      419      139      12,241      478      12      12   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

   

 

 

    

 

 

 

Year ended 30 June 2014

US$ million

   Revenue     Underlying
EBITDA
    D&A     Underlying
EBIT
    Net
operating
assets
     Capital
expenditure
    Exploration
gross
     Exploration
to profit
 

Queensland Coal

     4,666        949        514        435        9,115         1,790        

New Mexico

     520        105        46        59        202         26        

New South Wales Energy Coal (i)

     1,350        324        150        174        1,392         170        

Colombia (i)

     814        305        85        220        1,037         133        

Other (ii)

     —          (166     2        (168     162         34        
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

      

Total Coal from Group production

  7,350      1,517      797      720      11,908      2,153   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

      

Third party products

  27      —        —        —        1      —     
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

   

 

 

    

 

 

 

Total Coal

  7,377      1,517      797      720      11,909      2,153      29      29   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

   

 

 

    

 

 

 

Statutory adjustments (iii)

  (814   (259   (114   (145   —        (182   —        —     
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

   

 

 

    

 

 

 

Total Coal statutory result

  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


Table of Contents

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

BHP Billiton Limited and BHP Billiton Plc
Date: July 22, 2015 By:

/s/ Rachel Agnew

Name: Rachel Agnew
Title: Company Secretary