FY22 Overview & Safety Program Update
UNDERLYING INCOME TAX EXPENSE
III
SOUTH32
FY22
FY213
Underlying income tax expense reconciliation and Underlying effective tax rate¹,2
US$M
US$M
Underlying EBIT profit/(loss)
3,967
1,039
Include: Underlying net finance revenue/(costs)
(155)
(170)
Remove: Share of (profit)/loss of immaterial equity accounted investments
Underlying profit/(loss) before taxation
2
9
3,814
878
Income tax expense/(benefit)
Tax effect of earnings adjustments to Underlying EBIT
Tax effect of earnings adjustments to net finance costs
Exchange rate variations on tax balances
Tax effect on significant items
Sierra Gorda joint venture statutory adjustment income tax
Sierra Gorda joint venture statutory adjustment royalty related tax
Manganese joint venture statutory adjustments income tax
Manganese joint venture statutory adjustments royalty related tax
Total adjustments to derive Underlying income tax expense
Underlying income tax expense/(benefit)
Underlying effective tax rate (ETR) including royalty related tax
31.7%
1,024
(103)
32
247
(13)
(7)
(20)
66
(26)
1
4
153
124
55
53
186
483
1,210
380
43.3%
SLIDE 50View entire presentation