1st Quarter Results - Part 2
Broken Hill Proprietary Co Ld
2 November 2000
Part 2
Supplementary Information - Segment Results
Quarterly comparison - September 2000 with September 1999 (1)
Quarter ended 30 September 2000 ($ million)
Revenue(2) Profit
Other Dep'n & Borrowing Net
Sales revenue Total EBITDA(3) amort'n costs EBT(4) Tax profit
2 124 45 2 169 Minerals 803 ( 205) - 598 ( 190) 408
1 473 7 1 480 Petroleum 811 ( 219) - 592 ( 187) 405
2 004 22 2 026 Steel 320 ( 97) - 223 ( 67) 156
- 19 19 Net
unallocated
interest 19 - ( 155) ( 136) 29 ( 107)
( 126) 94 ( 32)Group
and
unallocated
items(5) ( 207) ( 3) - ( 210) 70 ( 140)
5 228 187 5 415 BHP Group 1 746 ( 524) ( 155) 1 067 ( 345) 722
Quarter ended 30 September 1999 ($ million)
Revenue(2) Profit
Other Dep'n & Borrowing Net
Sales revenue Total EBITDA(3) amort'n costs EBT(4) Tax profit
2 071 142 2 213 Minerals 657 ( 210) - 447 ( 144) 303
983 215 1 198 Petroleum 463 ( 150) - 313 ( 101) 212
2 048 23 2 071 Steel 243 ( 112) - 131 ( 47) 84
115 - 115 Services 12 ( 3) - 9 ( 3) 6
- 11 11 Net
unallocated
interest 11 - ( 165) ( 154) 38 ( 116)
( 69) - ( 69)Group
and
unallocated
items(5) ( 95) ( 5) - ( 100) 138 38
4 625 356 4 981 BHP Group 1 291 ( 480) ( 165) 646 ( 119) 527
(1) Before outside equity interests.
(2) Revenues do not add to the BHP Group figure due to intersegment
transactions.
(3) EBITDA is earnings before borrowing costs, tax, and depreciation and
amortisation.
(4) EBT (earnings before tax) is EBIT (earnings before borrowing costs and tax)
for all Businesses excluding Net unallocated interest and BHP Group.
(5) Includes consolidation adjustments and unallocated items.
Supplementary Information - Segment Results
Quarterly comparison - September 2000 with June 2000 (1)
Quarter ended 30 September 2000 ($ million)
Revenue(2) Profit
Other Dep'n & Borrowing Net
Sales revenue Total EBITDA(3) amort'n costs EBT(4) Tax profit
2 124 45 2 169 Minerals 803 ( 205) - 598 ( 190) 408
1 473 7 1 480 Petroleum 811 ( 219) - 592 ( 187) 405
2 004 22 2 026 Steel 320 ( 97) - 223 ( 67) 156
- 19 19 Net
unallocated
interest 19 - ( 155) ( 136) 29 ( 107)
( 126) 94 ( 32)Group
and
unallocated
items(5) ( 207) ( 3) - ( 210) 70 ( 140)
5 228 187 5 415 BHP Group 1 746 ( 524) ( 155) 1 067 ( 345) 722
Quarter ended 30 June 2000 ($ million)
Revenue(2) Profit
Other Dep'n & Borrowing Net
Sales revenue Total EBITDA(3) amort'n costs EBT(4) Tax profit
2 094 88 2 182 Minerals 622 ( 208) - 414 ( 53) 361
1 466 141 1 607 Petroleum 802 ( 260) - 542 ( 165) 377
2 232 574 2 806 Steel ( 16) ( 97) ( 1) ( 114) ( 6) ( 120)
49 68 117 Services 70 ( 2) - 68 - 68
- 22 22 Net
unallocated
interest 22 - ( 156) ( 134) 19 ( 115)
( 109) 3 ( 106)Group
and
unallocated
items(5) ( 226) ( 4) - ( 230) 67 ( 163)
5 464 896 6 360 BHP Group 1 274 ( 571) ( 157) 546 ( 138) 408
(1) Before outside equity interests.
(2) Revenues do not add to the BHP Group figure due to intersegment
transactions.
(3) EBITDA is earnings before borrowing costs, tax, and depreciation and
amortisation.
(4) EBT (earnings before tax) is EBIT (earnings before borrowing costs and tax)
for all Businesses excluding Net unallocated interest and BHP Group.
(5) Includes consolidation adjustments and unallocated items.
Supplementary Information - Business Results
Quarter ended $ million
30 September
2000 Sales(1) EBITDA(2) Depreciation Capital &(3) Exploration
revenue & amortisation investment (before tax)
expenditure Gross(4) Charged
to
profit
Minerals
WA 459 227 31 7
Samarco(5) 13 -
Total Iron Ore 459 240 31 7
Queensland 412 177 29 5
New Mexico 178 53 12 3
Illawarra 100 27 8 1
Kalimantan 91 15 13 -
Total Coal 781 272 62 9
WA 14 ( 78) - 22
Venezuela(5) ( 10) 72
Total HBI 14 ( 88) - 94
Escondida 379 211 44 26
Tintaya 63 19 11 5
Ok Tedi 174 37 29 -
Total Copper 616 267 84 31
Ekati 113 79 11 7
Cannington 114 52 12 6
Other businesses(6) 30 8 1 -
Development 1 ( 15) 2 -
Intra divisional
adjustment ( 6) 1
Divisional
activities 2 ( 13) 2 1
2 124 803 205 155 21 18
Petroleum(7)
Bass Strait 551 307 46 29
North West Shelf 320 239 27 15
Liverpool Bay 114 78 33 21
Other Businesses 486 272 113 149
Marketing
activities 91 3 - -
Intra-
divisional
adjustment - -
Divisional
activities ( 89) ( 88) - - 80 45
1 473 811 219 214 80 45
Steel
Flat Products(8) 640 130 37 9
Coated Products 885 132 27 3
Discontinuing
Operations(9) 670 66 28 14
Intra-
divisional
adjustment ( 641) ( 21)
Divisional
activities 42 ( 13) ( 1) -
Transport and
Logistics 408 26 6 5
2 004 320 97 31 - -
Net Unallocated
Interest 19
Group and
unallocated
items ( 126) ( 207) 3 17
BHP Group 5 228 1 746 524 417 101 63
(1) Sales revenues do not add to the BHP Group figure due to intersegment
transactions.
(2) EBITDA is earning before borrowing costs, tax, and depreciation and
amortisation.
(3) Excludes capitalised interest and capitalised exploration.
(4) Includes capitalised exploration: Minerals $3 million and Petroleum $35
million.
(5) Equity accounted investments.
(6) Includes North America Copper mining and smelting operations which ceased
during the September 1999 quarter, Beenup mineral sands operation which
was closed in April 1999, and Hartley Platinum mine where operations have
been suspended pending conditional sale.
(7) Petroleum sales revenue includes: Crude oil $1 089 million, Natural gas
$111 million, LNG $128 million, LPG $95 million and Other $50 million.
(8) Includes North Star BHP Steel.
(9) Includes the Long Products business (OneSteel).
Supplementary Information - Business Results
Quarter ended $ million
30 September
1999 Sales(1) EBITDA(2) Depreciation Capital &(3) Exploration
revenue & amortisation investment (before tax)
expenditure Gross(4) Charged
to profit
Minerals
WA 352 159 34 5
Samarco(5) 10 -
Total Iron Ore 352 169 34 5
Queensland 363 139 44 20
New Mexico 148 48 11 1
Illawarra 90 18 8 2
Kalimantan 83 23 11 1
Total Coal 684 228 74 24
WA 20 ( 47) 3 8
Venezuela(5) ( 1) 4
Total HBI 20 ( 48) 3 12
Escondida 384 203 39 6
Tintaya 49 12 11 3
Ok Tedi 188 65 25 -
Total Copper 621 280 75 9
Ekati 103 75 10 -
Cannington 108 35 11 2
Other
businesses(6) 234 5 1 8
Development 4 ( 18) 2 (4)
Intra
divisional
adjustment ( 12) - - -
Divisional
activities ( 43) ( 69) - (4)
2 071 657 210 52 15 12
Petroleum(7)
Bass Strait 425 227 50 49
North West Shelf 202 148 22 16
Liverpool Bay 89 59 34 6
Other Businesses 149 112 44 38
Marketing
activities 333 ( 2) - -
Intra-
divisional
adjustment ( 144) -
Divisional
activities ( 71) ( 81) - - 54 41
983 463 150 109 54 41
Steel
Flat Products(8) 540 68 35 11
Coated Products 874 96 30 6
Discontinuing
Operations(9) 982 55 42 12
Intra-
divisional
adjustment ( 697) 4 - -
Divisional
activities 27 ( 8) ( 1) -
Transport and
Logistics 322 28 6 1
2 048 243 112 30 - -
Services 115 12 3 1
Net
Unallocated
Interest 11
Group and
unallocated
items ( 69) ( 95) 5 -
BHP Group 4 625 1 291 480 192 69 53
(1) Sales revenues do not add to the BHP Group figure due to intersegment
transactions.
(2) EBITDA is earning before borrowing costs, tax, and depreciation and
amortisation.
(3) Excludes capitalised interest and capitalised exploration.
(4) Includes capitalised exploration: Minerals $3 million and Petroleum $13
million.
(5) Equity accounted investments.
(6) Includes North America Copper mining and smelting operations which ceased
during the September 1999 quarter, Beenup mineral sands operation which
was closed in April 1999, and Hartley Platinum mine where operations have
been suspended pending conditional sale.
(7) Petroleum sales revenue includes: Crude oil $602 million, Natural gas
$79 million, LNG $83 million, LPG $64 million and Other $155 million.
(8) Includes North Star BHP Steel.
(9) Includes the Long Products business (OneSteel), Newcastle primary
steelmaking operations, US steel assets, Lifting Products and strip
casting assets.
Restated Financial Information
The information on pages 17 to 22 has been included to provide selected fiscal
2000 comparative data which reflects the change in Business segments described
on page 4. Details for the quarter ended 30 September 1999 and the quarter ended
30 June 2000 are provided on pages 13, 14 and 16.
Year ended 30 June 2000
$ million
Sep 99 Dec 99 Mar 00 June 00
Quarter 1 Quarter 2 Half Year Quarter 3 Quarter 4 Full Year
Minerals 303 268 571 ( 496) 361 436
Petroleum 212 365 577 332 377 1 286
Steel 84 180 264 139 ( 120) 283
Services 6 21 27 ( 1) 68 94
Net unallocated
interest ( 116) ( 129) ( 245) ( 112) ( 115) ( 472)
Group and
unallocated
items 38 ( 42) ( 4) 89 ( 163) ( 78)
Net profit/(loss)
before outside
equity interests 527 663 1 190 ( 49) 408 1 549
Outside equity
interests 7 13 20 3 9 32
Net profit/(loss)
attributable to members
of the BHP Entity 534 676 1 210 ( 46) 417 1 581
Restated Financial Information
Quarter ended 31 December 1999 ($ million) (1)
Revenue(2) Profit
Other Dep'n & Borrowing Net
Sales revenue Total EBITDA(3) amort'n costs EBT(4) Tax profit
1 986 94 2 080 Minerals 511 ( 209) - 302 ( 34) 268
940 235 1 175 Petroleum 626 ( 184) - 442 ( 77) 365
1 954 23 1 977 Steel 266 ( 109) - 157 23 180
79 77 156 Services 27 ( 3) - 24 ( 3) 21
- 18 18 Net
unallocated
interest 18 - ( 186) ( 168) 39 (129)
( 53) 80 27 Group and
unallocated
items(5) ( 74) ( 2) - ( 76) 34 (42)
4 660 527 5 187 BHP Group 1 374 ( 507) ( 186) 681 ( 18) 663
Quarter ended 31 March 2000 ($ million) (1)
Revenue(2) Profit
Other Dep'n & Borrowing Net
Sales revenue Total EBITDA(3) amort'n costs EBT(4) Tax profit
1 957 220 2 177 Minerals ( 499) ( 200) - ( 699) 203 ( 496)
1 385 16 1 401 Petroleum 760 ( 239) - 521 (189) 332
2 026 53 2 079 Steel 331 ( 139) - 192 ( 53) 139
53 - 53 Services - ( 2) - ( 2) 1 ( 1)
- 9 9 Net
unallocated
interest 9 - ( 156) ( 147) 35 ( 112)
( 65) 4 ( 61)Group and
unallocated
items(5) ( 136) ( 2) - ( 138) 227 89
5 123 302 5 425 BHP Group 465 ( 582) ( 156) ( 273) 224 ( 49)
(1) Before outside equity interests.
(2) Revenues do not add to the BHP Group figure due to intersegment
transactions.
(3) EBITDA is earnings before borrowing costs, tax, and depreciation and
amortisation.
(4) EBT (earnings before tax) is EBIT (earnings before borrowing costs and tax)
for all Businesses excluding Net unallocated interest and BHP Group.
(5) Includes consolidation adjustments and unallocated items.
Restated Financial Information
Quarter
ended $ million
31
December
1999 Sales(1) EBITDA(2) Depreciation Net Capital &(3) Exploration
revenue & amortisation assets investment (before tax)
expenditure Gross(4) Charged
to
profit
Minerals
WA 333 130 36 1 817 6
Samarco(5) 20 324 -
Total Iron
Ore 333 150 36 2 141 6
Queensland 361 101 34 1 297 12
New Mexico 131 37 11 200 1
Illawarra 101 15 8 201 6
Kalimantan 70 17 13 209 1
Total Coal 663 170 66 1 907 20
WA 20 ( 52) 3 1 426 7
Venezuela(5) ( 5) 183 2
Total HBI 20 ( 57) 3 1 609 9
Escondida 353 164 37 2 070 11
Tintaya 59 13 15 433 2
Ok Tedi 137 ( 4) 25 637 1
Total
Copper 549 173 77 3 140 14
Ekati 72 58 10 482 1
Cannington 115 33 11 515 2
Other
businesses(6)224 20 2 ( 575) 1
Development 1 ( 28) 4 246 2
Intra-
divisional
adjustment ( 5) 2 - ( 2) -
Divisional
activities 14 ( 10) - 22 -
1 986 511 209 9 485 55 20 19
Petroleum (7)
Bass Strait 425 248 44 742 32
North West
Shelf 192 134 22 1 193 10
Liverpool
Bay 124 94 46 457 6
Other
Businesses 268 239 72 1 342 55
Marketing
activities 236 4 - ( 4) -
Intra-
divisional
adjustment( 231) - ( 8)
Divisional
activities ( 74) ( 93) - 4 - 41 29
940 626 184 3 726 103 41 29
Steel
Flat
Products(8) 549 81 35 1 904 11
Coated
Products 807 102 28 1 698 5
Discontinuing
Operations(9)914 75 42 2 823 13
Intra-
divisional
adjustment( 671) ( 3) ( 1) ( 53) 1
Divisional
activities 26 ( 12) ( 1) ( 15) -
Transport and
Logistics 329 23 6 203 1
1 954 266 109 6 560 31 - -
Services 79 27 3 ( 5) 1
Net
Unallocated
Interest 18 (9 267) -
Group and
unallocated
items ( 53) ( 74) 2 292 16
BHP Group 4 660 1 374 507 10 791 206 61 48
(1) Sales revenues do not add to the BHP Group figure due to intersegment
transactions.
(2) EBITDA is earnings before borrowing costs, tax, and depreciation and
amortisation.
(3) Excludes capitalised interest and capitalised exploration.
(4) Includes capitalised exploration: Minerals $1 million and Petroleum $12
million.
(5) Equity accounted investments.
(6) Includes North America Cooper mining and smelting operations which ceased
during the September 1999 quarter, Beenup mineral sands operation which
was closed in April 1999, and Hartley Platinum mine where operations have
been suspended pending conditional sale.
(7) Petroleum sales revenue includes: Crude oil $667 million, Natural gas $103
million, LNG $86 million, LPG$75 million and Other $9 million.
(8) Includes North Star BHP Steel.
(9) Includes the Long Products business (OneSteel), US steel assets, and strip
casting assets.
Restated Financial Information
Quarter ended $ million
31 March
2000 Sales(1) EBITDA(2) Depreciation Capital &(3) Exploration
revenue & amortisation investment (before tax)
expenditure Gross(4)(5) Charged
to profit(6)
Minerals
WA 315 171 33 4
Samarco(7) 6 -
Total
Iron Ore 315 177 33 4
Queensland 365 140 30 7
New Mexico 154 49 12 1
Illawarra 95 17 6 5
Kalimantan 101 16 12 -
Total Coal 715 222 60 13
WA 17 (1 195) 2 6
Venezuela(7) ( 5) 52
Total HBI 17 (1 200) 2 58
Escondida 362 175 44 20
Tintaya 80 15 16 2
Ok Tedi 196 36 26 8
Total
Copper 638 226 86 30
Ekati 101 72 5 10
Cannington 103 34 12 3
Other
businesses(8)74 16 - -
Development 2 ( 32) - 1
Intra-
divisional
adjustment ( 13) 1 - -
Divisional
activities 5 ( 15) 2 ( 3)
1 957 ( 499) 200 116 26 24
Petroleum(9)
Bass Strait 495 276 55 26
North West
Shelf 318 233 29 9
Liverpool
Bay 140 116 49 7
Other
Businesses 433 234 106 35
Marketing
activities 415 4 - -
Intra-
divisional
adjustment( 334) -
Divisional
activities ( 82) ( 103) - - 31 39
1 385 760 239 77 31 39
Steel
Flat
Products(9) 539 94 37 13
Coated
Products 881 119 31 4
Discontinuing
Operations
(11) 681 98 65 8
Intra-
divisional
adjustment( 431) 13 1 -
Divisional
activities 29 ( 19) ( 1) -
Transport
and
Logistics 327 26 6 1
2 026 331 139 26 - -
Services 53 - 2 5
Net
Unallocated
Interest 9 -
Group and
unallocated
items ( 65) ( 136) 2 1
BHP Group 5 123 465 582 225 57 63
(1) Sales revenues do not add to the BHP Group figure due to intersegment
transactions.
(2) EBITDA is earning before borrowing costs, tax, and depreciation and
amortisation.
(3) Excludes capitalised interests and capitalised exploration.
(4) Includes capitalised exploration: Minerals $2 million and Petroleum $7
million.
(5) Gross exploration for Petroleum of $31 million comprises current period
expenditure of $44 million adjusted by $13 million associated with the
Typhoon development which has been reclassified from exploration
expenditure to capital expenditure.
(6) Includes $2 million Petroleum exploration expenditure previously
capitalised, now written off.
(7) Equity accounted investments.
(8) Includes North America Copper mining and smelting operations which ceased
during the September 1999 quarter, Beenup mineral sands operation which
was closed in April 1999, and Hartley Platinum mine where operations have
been suspended pending conditional sale.
(9) Petroleum sales revenue includes: Crude oil $996 million, Natural gas $122
million, LNG $118 million, LPG $95 million and Other $54 million.
(10) Includes North Star BHP Steel.
(11) Includes the Long Products business (OneSteel), US steel assets, and strip
casting assets.
Restated Financial Information
Quarter
ended $ million
30 June
2000 Sales(1) EBITDA(2) Depreciation Net Capital & (3) Exploration
revenue & amortisation assets investment (before tax)
expenditure Gross) Charged
to profit
Minerals
WA 425 195 32 1 521 7
Samarco(5) 15 348 14
Total
Iron Ore 425 210 32 1 869 21
Queensland 370 117 34 1 148 21
New Mexico 152 50 13 216 17
Illawarra 111 28 7 189 5
Kalimantan 98 ( 3) 14 189 -
Total Coal 731 192 68 1 742 43
WA 14 ( 65) - 259 21
Venezuela(5) ( 5) 283 44
Total HBI 14 ( 70) - 542 65
Escondida 413 195 39 2 295 49
Tintaya 65 8 15 427 9
Ok Tedi 190 15 28 665 17
Total
Copper 668 218 82 3 387 75
Ekati 67 58 10 527 17
Cannington 141 44 11 493 4
Other
businesses(6)43 23 2 ( 634) -
Development 5 ( 40) 3 349 4
Intra
divisional
adjustment ( 8) ( 1) - ( 3) -
Divisional
activities 8 ( 12) - 19 -
2 094 622 208 8 291 229 40 37
Petroleum(7)
Bass Strait505 334 48 631 34
North West
Shelf 304 221 49 1 159 12
Liverpool
Bay 169 134 57 527 10
Other
Businesses 392 224 106 1 135 91
Marketing
activities 403 8 - ( 15) 1
Intra-
divisional
adjustment( 234) - ( 7)
Divisional
activities ( 73) ( 119) - 4 - 121 81
1 466 802 260 3 434 148 121 81
Steel
Flat
Products(8) 639 81 35 1 904 20
Coated
Products 954 145 36 1 677 16
Discontinuing
Operations(9)875 ( 215) 16 2 061 162
Intra-
divisional
adjustment( 676) 3 - ( 44) ( 1)
Divisional
activities 36 ( 53) ( 2) ( 39) ( 12)
Transport
and
Logistics 404 23 12 180 5
2 232 ( 16) 97 5 739 190 - -
Services 49 70 2 ( 5) 1
Net Unallocated
Interest 22 (7 007)
Group
and
unallocated
items ( 109) ( 226) 4 553 108
BHP Group 5 464 1 274 571 11 005 676 161 118
(1) Sales revenues do not add to the BHP Group figure due to intersegment
transactions.
(2) EBITDA is earning before borrowing costs, tax, and depreciation and
amortisation.
(3) Excludes capitalised interest and capitalised exploration.
(4) Includes capitalised exploration: Minerals $3 million and Petroleum $40
million.
(5) Equity accounted investments.
(6) Includes North America Copper mining and smelting operations which ceased
during the September 1999 quarter, Beenup mineral sands operation which
was closed in April 1999, and Hartley Platinum mine where operations have
been suspended pending conditional sale.
(7) Petroleum sales revenue includes: Crude oil $1 010 million, Natural gas
$126 million, LNG $111 million, LPG $72 million and Other $147 million.
(8) Includes North Star BHP Steel.
(9) Includes the Long Products business (OneSteel) and US Steel assets.
Restated Financial Information
Year ended $ million
30 June
2000 Sales(1) EBITDA(2) Depreciation Net Capital &(3) Exploration
revenue & amortisation assets investment (before tax)
expenditure Gross(4) Charged
to
profit
(5)
Minerals
WA 1 425 655 135 1 521 22
Samarco(6) 51 348 14
Total
Iron Ore 1 425 706 135 1 869 36
Queensland1 459 497 142 1 148 60
New Mexico 585 184 47 216 20
Illawarra 397 78 29 189 18
Kalimantan 352 53 50 189 2
Total
Coal 2 793 812 268 1 742 100
WA 71 (1 359) 8 259 42
Venezuela(6) ( 16) 283 102
Total HBI 71 (1 375) 8 542 144
Escondida 1 512 737 159 2 295 86
Tintaya 253 48 57 427 16
Ok Tedi 711 112 104 665 26
Total
Copper 2 476 897 320 3 387 128
Ekati 343 263 35 527 28
Cannington 467 146 45 493 11
Other
businesses(7)575 64 5 ( 634) 9
Development 12 ( 118) 9 349 3
Intra
divisional
adjustment ( 38) 2 - ( 3) -
Divisional
activities ( 16) ( 106) 2 19 ( 7)
8 108 1 291 827 8 291 452 101 92
Petroleum(8)
Bass Strait 1 850 1 085 197 631 141
North West
Shelf 1 016 736 122 1 159 47
Liverpool
Bay 522 403 186 527 29
Other
Businesses 1 242 809 328 1 135 219
Marketing
activities 1 387 14 - ( 15) 1
Intra-
divisional
adjustment ( 943) - ( 7)
Divisional
activities ( 300) ( 396) - 4 - 247 190
4 774 2 651 833 3 434 437 247 190
Steel
Flat
Products(9) 2 267 324 142 1 904 55
Coated
Products 3 516 462 125 1 677 31
Discontinuing
Operations(10)3 452 13 165 2 061 195
Intra-
divisional
adjustment (2 475) 17 - ( 44) -
Divisional
activities 118 ( 92) ( 5) ( 39) ( 12)
Transport
and Logistics 1 382 100 30 180 8
8 260 824 457 5 739 277 - -
Services 296 109 10 ( 5) 8
Net
Unallocated
Interest 60 - (7 007) -
Group and
unallocated
items ( 296)( 531) 13 553 125
BHP Group 19 872 4 404 2 140 11 005 1 299 348 282
(1) Sales revenues do not add to the BHP Group figure due to intersegment
transactions.
(2) EBITDA is earning before borrowing costs, tax, and depreciation and
amortisation.
(3) Excludes capitalised interest and capitalised exploration.
(4) Includes capitalised exploration: Minerals $9 million and Petroleum $67
million.
(5) Includes $10 million Petroleum exploration expenditure previously
capitalised, now written off.
(6) Equity accounted investments.
(7) Includes North America Copper mining and smelting operations which ceased
during the September 1999 quarter, Beenup mineral sands operation which
was closed in April 1999, and Hartley Platinum mine where operations have
been suspended pending conditional sale.
(8) Petroleum sales revenue includes: Crude oil $3 274 million, Natural gas
$430 million, LNG $398 million, LPG $305 million and Other $367 million.
(9) Includes North Star BHP Steel.
(10) Includes the Long Products business (OneSteel), Newcastle primary
steelmaking operations, US steel assets, Lifting Products and strip
casting assets.
Supplementary Information - Foreign exchange & commodity price
management
Foreign exchange management
The table below provides information as at 30 September 2000 regarding the
Group's significant derivative financial instruments used to hedge US dollar
sales revenues that are sensitive to changes in exchange rates for the
forthcoming twelve months.
Weighted average A$/US$ exchange rate Contract amounts
Forwards Call options Put options US$ million
US Dollars
Q2 - forwards 0.6931 - - 350
- collar options - 0.6608 0.6235 100
- purchased options - - - -
Q3 - forwards 0.7069 - - 270
- collar options - 0.6597 0.6292 160
- purchased options - 0.5500 - 10
Q4 - forwards 0.7052 - - 270
- collar options - 0.6572 0.6254 120
- purchased options - 0.5500 - 40
Q1 - forwards 0.6954 - - 300
2002 - collar options - 0.6678 0.6372 60
- purchased options - 0.5500 - 10
Commodity price management
The table below provides information as at 30 September 2000 regarding the
Group's significant derivative financial instruments that are sensitive to
changes in certain commodity prices for the forthcoming twelve months.
Weighted average price Contract amounts
Forwards Put options Call options (000's)
Copper
Q2 - forwards US $0.82/lb - - 7,110 lbs
- collar options - US $0.74/lb US $0.90/lb 73,249 lbs
- purchased options - US $0.74/lb - 24,802 lbs
- purchased options - - US $0.90/lb 73,249 lbs
Q3 - forwards - - - -
- collar options - - - -
- purchased options - - - -
- purchased options - - - -
Q4 - forwards - - - -
- collar options - - - -
- purchased options - - - -
- purchased options - - -
Q1 - forwards - - - -
2002 - collar options - - - -
- purchased options - - - -
- purchased options - - - -
Crude oil
Q2 - forwards US $19.96 bbl - - 2,775 bbls
- collar options - - - -
- purchased options - - - -
Q3 - forwards US $22.23 bbl - - 2,425 bbls
- collar options - - - -
- purchased options - - - -
Q4 - forwards US $22.42 bbl - - 2,200 bbls
- collar options - - - -
- purchased options - - - -
Q1 - forwards - - - -
2002 - collar options - - - -
- purchased options - - - -
lbs - pounds; bbls - barrels
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