Page 174 - Annual Report 2020

5.1 Consolidated Financial Statements

5.1.1 Consolidated Income Statement for the year ended 30 June 2020

2020 2019 2018
Notes US$M US$M US$M
Continuing operations
Revenue 2 42,931 44,288 43,129
Other income 5 777 393 247
Expenses excluding net finance costs 5 (28,775) (28,022) (27,527)
(Loss)/profit from equity accounted investments, related impairments and expenses 30 (512) (546) 147
Profit from operations 14,421 16,113 15,996

Financial expenses (1,262) (1,510) (1,567)
Financial income 351 446 322
Net finance costs 21 (911) (1,064) (1,245)
Profit before taxation 13,510 15,049 14,751
Income tax expense (4,708) (5,335) (6,879)
Royalty-related taxation (net of income tax benefit) (66) (194) (128)
Total taxation expense 6 (4,774) (5,529) (7,007)
Profit after taxation from Continuing operations 8,736 9,520 7,744
Discontinued operations
Loss after taxation from Discontinued operations 28 − (335) (2,921)
Profit after taxation from Continuing and Discontinued operations 8,736 9,185 4,823
Attributable to non-controlling interests 780 879 1,118
Attributable to BHP shareholders 7,956 8,306 3,705
Basic earnings per ordinary share (cents) 7 157.3 160.3 69.6
Diluted earnings per ordinary share (cents) 7 157.0 159.9 69.4
Basic earnings from Continuing operations per ordinary share (cents) 7 157.3 166.9 125.0
Diluted earnings from Continuing operations per ordinary share (cents) 7 157.0 166.5 124.6
The accompanying notes form part of these Financial Statements.
5.1.2 Consolidated Statement of Comprehensive Income for the year ended 30 June 2020

2020 2019 2018
Notes US$M US$M US$M
Profit after taxation from Continuing and Discontinued operations 8,736 9,185 4,823
Other comprehensive income
Items that may be reclassified subsequently to the income statement:
Net valuation gains on investments taken to equity − − 11
Hedges:
(Losses)/gains taken to equity (315) (327) 82
Losses/(gains) transferred to the income statement 297 299 (215)
Exchange fluctuations on translation of foreign operations taken to equity 1 1 2
Exchange fluctuations on translation of foreign operations transferred to income statement − (6) −
Tax recognised within other comprehensive income 6 5 8 36
Total items that may be reclassified subsequently to the income statement (12) (25) (84)
Items that will not be reclassified to the income statement:
Re-measurement (losses)/gains on pension and medical schemes (81) (20) 1
Equity investments held at fair value (2) 1 −
Tax recognised within other comprehensive income 6 26 19 (14)
Total items that will not be reclassified to the income statement (57) − (13)
Total other comprehensive loss (69) (25) (97)
Total comprehensive income 8,667 9,160 4,726
Attributable to non-controlling interests 769 878 1,118
Attributable to BHP shareholders 7,898 8,282 3,608
The accompanying notes form part of these Financial Statements.

172 BHP Annual Report 2020