Page 182 - Annual Report 2020

1 Segment reporting continued
Geographical information
Revenue by location of customer
2020 2019 2018
US$M US$M US$M
Australia 2,232 2,568 2,304
Europe 1,156 1,875 1,886
China 26,576 24,274 22,660
Japan 3,904 4,193 4,628
India 1,475 2,479 2,439
South Korea 2,666 2,550 2,588
Rest of Asia 2,583 2,940 2,620
North America 1,827 2,442 2,715
South America 315 662 1,054
Rest of world 197 305 235
42,931 44,288 43,129

Non-current assets by location of assets
2020 2019 2018
US$M US$M US$M
Australia 47,286 45,013 45,157
North America 9,682 8,633 8,246
South America 18,179 18,404 18,267
Rest of world 1,955 371 154
Unallocated assets (1) 6,210 5,067 5,039
83,312 77,488 76,863
(1) Unallocated assets comprise deferred tax assets and other financial assets.
Underlying EBITDA Segment assets and liabilities
Underlying EBITDA is earnings before net finance costs, depreciation, Total segment assets and liabilities of reportable segments represents
amortisation and impairments, taxation expense, Discontinued operating assets and operating liabilities, including the carrying
operations and any exceptional items. Underlying EBITDA includes amount of equity accounted investments and predominantly excludes
BHP’s share of profit/(loss) from investments accounted for using the cash balances, loans to associates, interest bearing liabilities and
equity method including net finance costs, depreciation, amortisation deferred tax balances. The carrying value of investments accounted
and impairments and taxation expense. for using the equity method represents the balance of the Group’s
Exceptional items are excluded from Underlying EBITDA in order to investment in equity accounted investments, with no adjustment for
any cash balances, interest bearing liabilities or deferred tax balances
enhance the comparability of such measures from period-to-period of the equity accounted investment.
and provide investors with further clarity in order to assess the
underlying performance of the Group’s operations. Management
monitors exceptional items separately. Refer to note 3 ‘Exceptional
items’ for additional detail.

180 BHP Annual Report 2020