H1 2023 EBITDA Overview and Oyu Tolgoi Outlook
Cash flow reconciliation
H1 2023 Cash Flow (US$m)
Profit after tax for the year/Underlying EBITDA
Adjustments for:
Taxation
Finance items
1,983
Statutory cash
flow
Reconciling
items
Underlying
Utilisation of provisions
cash flow
Close down and restoration
(333)
4,947
11,728
Post-retirement benefits and other employee benefits
Other provisions
(115)
(44)
(492)
748
•
Share of profit after tax of equity accounted units
(431)
(611)1
(1,042)
Impairments
1,175
1,175
Depreciation and amortisation
2,485
Change in working capital
Inventories
(293)
Provisions (including exchange differences on provisions)
63
29
92
Utilisation of provisions
(492)
(492)
Trade and other receivables
Trade and other payables
(6)
(628)
Change in working capital
(927)
(927)
(927)
Other items
(116)
192
76
Cash flows from consolidated operations
9,435
Dividends from EAUs
287
287
Other items
Net interest paid
(286)
(286)
Reconciling
Statutory
Underlying
Dividends paid to non-controlling interests
(46)
(46)
Change in non-debt
Tax paid
(2,415)
(2,415)
(73)
items
112²
39
derivatives
Net cash generated from operating activities
6,975
Depreciation
(88)
883
transferred
Purchases of PPE
(3,001)
Other items 2,3
45
(8)
37
Sales of PPE
8
(116)
192
76
Lease principal payments
Free cash flow
(213)
3,769
Rio Tinto
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1Relates to Finance items, tax, depreciation & amortisation of EAUs which is not included in Underlying EBITDA | 2Relates to exclusions not included in
Underlying EBITDA | 3Part of the reconciling items include depreciation in E&E expenditure and depreciation transferred not recognised in underlying cashflows
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