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CAPITAL MANAGEMENT - Gearing Ratio (Details)
$ in Millions
12 Months Ended
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
Adjusted net debt from continuing operations        
Borrowings - non-current portion (note 26) $ 1,789 $ 1,299 $ 1,911  
Lease liabilities - non-current portion (note 16) 116 126    
Borrowings - current portion (note 26) 142 734 139  
Lease liabilities - current portion (note 16) 37 45 0  
Total borrowings 2,084 2,204 2,050  
Less: cash and cash equivalents (note 24) (1,330) (456) (329) $ (205)
Net debt 754 1,748 1,721  
IFRS16 lease adjustments (106) (119) 0  
Corporate office lease 0 0 (9)  
Unamortised portion of borrowing costs 23 16 13  
Cash restricted for use (note 23) (73) (64) (66)  
Adjusted net debt 597 1,581 1,659  
Adjusted EBITDA from continuing operations        
Profit (loss) before taxation 1,589 619 445  
Finance costs and unwinding of obligations (note 7) 177 172 168  
Interest income (27) (14) (8)  
Amortisation of tangible, intangible and right of use assets (note 4) 570 583 558  
Other amortisation 6 6 11  
Associates and joint ventures’ adjustments for amortisation, interest, taxation and other 168 149 158  
EBITDA 2,483 1,515 1,332  
Foreign exchange and other (gains) losses 0 12 9  
Dividend income 2 0 2  
Retrenchment and related costs 2 7 4  
Care and maintenance costs (note 6) 0 47 39  
Impairment, derecognition of assets and (profit) loss on disposal 1 6 7  
Profit on disposal of joint ventures (19) 0 0  
Loss (gain) on non-hedge derivatives and other commodity contracts 5 (5) 2  
Associates and joint ventures’ share of costs 0 (2) (3)  
Adjusted EBITDA (as defined in the Revolving Credit Agreements) $ 2,470 $ 1,580 $ 1,388  
Gearing ratio (Adjusted net debt to Adjusted EBITDA) 0.24 1.00 1.20  
Maximum debt covenant ratio allowed per agreement 3.5 3.5 3.5