v3.26.1
Provisions for dividends and other liabilities (Tables)
 12 Months Ended
Jun. 30, 2026
Statement [Line Items]  
Summary of Financial Impacts of Samarco Dam Failure

The financial impacts of the Samarco dam failure on the Group’s income statement, balance sheet and cash flow statement for the year ended 30 June 2026 are shown in the tables below and have been treated as an exceptional item.

 

Financial impacts of Samarco dam failure

 

2026

 

2025

 

2024

 

 

US$M

 

US$M

 

US$M

Income statement

 

 

 

 

 

 

Other income1

 

64

 

–

 

–

Expenses excluding net finance costs:

 

 

 

 

 

 

Costs incurred directly by BHP Brasil and other BHP entities in relation to the Samarco dam failure2

 

(215)

 

(211)

 

(139)

Profit/(loss) from equity accounted investments, related impairments and expenses:

 

 

 

 

 

 

Samarco dam failure provision3

 

(778)

 

(659)

 

(2,833)

Fair value change on forward exchange derivatives4

 

458

 

414

 

(199)

Loss from operations

 

(471)

 

(456)

 

(3,171)

Net finance costs5

 

(600)

 

(458)

 

(506)

Loss before taxation

 

(1,071)

 

(914)

 

(3,677)

Income tax expense6

 

–

 

–

 

(85)

Loss after taxation

 

(1,071)

 

(914)

 

(3,762)

Balance sheet movement

 

 

 

 

 

 

Other financial assets/(liabilities)7

 

12

 

441

 

(280)

Trade and other receivables

 

29

 

–

 

–

Trade and other payables

 

(14)

 

29

 

(4)

Tax liabilities

 

–

 

–

 

(85)

Provisions

 

652

 

656

 

(2,824)

Net decrease/(increase) in liabilities

 

679

 

1,126

 

(3,193)

 

 

 

 

2026

 

 

2025

 

 

2024

 

 

 

US$M

 

 

US$M

 

 

US$M

Cash flow statement

 

 

 

 

 

 

 

 

 

Loss before taxation

 

 

(1,071)

 

 

(914)

 

 

(3,677)

Adjustments for:

 

 

 

 

 

 

 

 

 

Samarco dam failure provision3

 

778

 

 

659

 

 

2,833

 

Fair value change on forward exchange derivatives4

 

(458)

 

 

(414)

 

 

199

 

Proceeds from/(settlement of) cash management related instruments

 

455

 

 

(17)

 

 

218

 

Net finance costs5

 

600

 

 

458

 

 

506

 

Changes in assets and liabilities:

 

 

 

 

 

 

 

 

 

Trade and other receivables

 

(29)

 

 

–

 

 

–

 

Trade and other payables

 

14

 

 

(29)

 

 

4

 

Net operating cash flows

 

 

289

 

 

(257)

 

 

83

Net investment and funding of equity accounted investments8

 

 

(2,030)

 

 

(1,773)

 

 

(640)

Net investing cash flows

 

 

(2,030)

 

 

(1,773)

 

 

(640)

Net decrease in cash and cash equivalents

 

 

(1,741)

 

 

(2,030)

 

 

(557)

 

1.
Proceeds from insurance settlements.
2.
Includes legal and advisor costs incurred.
3.
US$575 million (2025: US$540 million; 2024: US$3,700 million) change in estimate and US$203 million (2025: US$119 million; 2024: US$(867) million) exchange translation.
4.
The Group enters into forward exchange contracts to limit the Brazilian reais exposure on the dam failure provision. While not applying hedge accounting, the fair value changes in the forward exchange instruments are recorded within Profit/(loss) from equity accounted investments, related impairments and expenses in the Income Statement.
5.
Amortisation of discounting of provision.
6.
Includes tax on forward exchange derivatives and other taxes incurred during the period.
7.
Includes forward exchange contracts described in 4 above, and Senior notes issued by Samarco as part of its Judicial Reorganisation in September 2023.
Includes US$2,030 million utilisation of the Samarco dam failure provision including payments under the Brazil Settlement Agreement ratified on 6 November 2024 (2025: US$1,773 million). FY2024 comprises utilisation of the Samarco dam failure provision US$515 million and US$125 million provided to Samarco following approval of the Judicial Reorganisation.
Provision for dividends and other liabilities [member]  
Statement [Line Items]  
Summary of Provisions

The disclosure below excludes closure and rehabilitation provisions (refer to note 15 'Closure and rehabilitation provisions'), employee benefits, restructuring and post-retirement employee benefits provisions (refer to note 27 'Employee benefits, restructuring and post-retirement employee benefits provisions') and the provision related to the Samarco dam failure (refer to note 4 'Significant events – Samarco dam failure').

 

 

 

2026

 

2025

 

 

US$M

 

US$M

At the beginning of the financial year

 

706

 

710

Dividends determined

 

6,761

 

6,286

Charge/(credit) for the year:

 

 

 

 

Underlying

 

268

 

185

Amortisation of discounting impacting net finance costs

 

6

 

7

Exchange translation

 

10

 

103

Released during the year

 

(111)

 

(73)

Utilisation

 

(149)

 

(90)

Dividends paid

 

(6,756)

 

(6,403)

Divestment of subsidiaries and operations

 

(10)

 

–

Transfers and other movements

 

(23)

 

(19)

At the end of the financial year

 

702

 

706

Comprising:

 

 

 

 

Current

 

296

 

310

Non-current

 

406

 

396
Samarco dam failure  
Statement [Line Items]  
Summary of Provisions

Provision related to the Samarco dam failure

 

 

 

2026

 

 

2025

 

 

 

US$M

 

 

US$M

At the beginning of the financial year

 

 

5,849

 

 

6,505

Movement in provision

 

 

(652)

 

 

(656)

Comprising:

 

 

 

 

 

 

Utilised

 

(2,030)

 

 

(1,773)

 

Adjustments charged to the income statement:

 

 

 

 

 

 

Change in cost estimate

 

575

 

 

540

 

Amortisation of discounting impacting net finance costs

 

600

 

 

458

 

Exchange translation

 

203

 

 

119

 

At the end of the financial year

 

 

5,197

 

 

5,849

Comprising:

 

 

 

 

 

 

Current

 

 

1,653

 

 

2,958

Non-current

 

 

3,544

 

 

2,891

At the end of the financial year

 

 

5,197

 

 

5,849