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Employment costs and provisions (Tables)
 12 Months Ended
Dec. 31, 2025
Disclosure Of Employee Cost And Provisions Explanatory [Abstract]  
Summary of employment costs and provisions
Note
2025
US$m
2024
US$m
2023
US$m
Employment costs
– Wages and salaries
6,549
6,004
5,625
– Social security costs
480
461
470
– Net post-retirement charge
29
626
605
449
– Share-based payment charge
28
237
172
144
7,892
7,242
6,688
Less: charged within movement in provisions (see below)
(287)
(187)
(52)
Total employment costs
7
7,605
7,055
6,636
Summary of provisions
Note
2025
US$m
2024
US$m
At 1 January
15,731
17,150
Adjustment on currency translation
907
(1,128)
Adjustments to mining properties/right-of-use assets:
13
–increases to existing and new provisions
811
851
–change in discount rate
–
(787)
Charged/(credited) to profit:
–increases to existing and new provisions
518
435
–change in discount rate
–
(235)
–unused amounts reversed
(126)
(88)
–exchange (gains)/losses on provisions
(48)
26
–amortisation of discount
768
843
Utilised in year
(1,049)
(1,142)
Newly consolidated operations(a)
319
61
Transfers and other movements
—
(255)
At 31 December(b)
17,831
15,731
Balance sheet analysis:
Current
1,128
1,183
Non-current
16,703
14,548
Total
17,831
15,731
(a)In 2025, this relates to our acquisition of Arcadium Lithium plc. Refer to note 5 for details. In 2024, this relates to our acquisition of an additional 20.64% interest in NZAS.
(b)Close-down, restoration and environmental provisions at 31 December 2025 have not been adjusted for closure-related receivables amounting to US$394 million (2024: US$350 million)
due from the ERA trust fund and other financial assets held for the purposes of meeting closure obligations. These are included within “Receivables and other assets” on the balance
sheet.
The impact of discounting on the provision is illustrated below:
At 31 December 2025
At 31 December 2024
Capitalised within
“Property, plant and
equipment”
US$m
Charged/(credited)
to the income
statement
US$m
Total increase/
(decrease) in
provision
US$m
Capitalised within
“Property, plant and
equipment”
US$m
Charged/(credited) to
the income
statement
US$m
Total increase/
(decrease) in
provision
US$m
Discount rate decreased to 1.0%
3,700
400
4,100
3,300
400
3,700
Discount rate increased to 3.0%
(1,000)
(100)
(1,100)
(900)
(100)
(1,000)
2025
US$m
2024
US$m
Opening balance at 1 January
1,107
1,371
Adjustment on currency translation
54
(69)
Adjustments to mining properties/right-of-use assets:
– increases to existing and new provisions
24
17
– change in discount rate
–
(2)
Charged/(credited) to profit:
– increases to existing and new provisions
418
184
– change in discount rate
–
(7)
– unused amounts reversed
(45)
(104)
– exchange gain on provisions
(6)
–
– amortisation of discount
10
14
Utilised in year
(402)
(94)
Newly consolidated operations(a)
375
—
Transfers and other movements
(59)
(203)
Closing balance at 31 December
1,476
1,107
Balance sheet analysis:
Current
1,103
792
Non-current
373
315
Total
1,476
1,107
(a)Newly consolidated operations relates to the acquisition of Arcadium Lithium plc. Refer to note 5 for details.
2025
2024
Employment provisions
Pensions
and
post-retirement
healthcare(a)
US$m
Other
employee
entitlements(b)
US$m
Total
US$m
Total
US$m
At 1 January
1,063
393
1,456
1,558
Adjustment on currency translation
37
31
68
(83)
Charged/(credited) to profit:
–increases to existing and new provisions
96
213
309
199
–unused amounts reversed
–
(22)
(22)
(12)
Utilised in year
(75)
(108)
(183)
(133)
Remeasurement gains recognised in other comprehensive income
(65)
–
(65)
(94)
Newly consolidated operations(c)
–
23
23
–
Transfers and other movements
–
29
29
21
At 31 December
1,056
559
1,615
1,456
Balance sheet analysis:
Current
66
407
473
359
Non-current
990
152
1,142
1,097
Total employment provisions
1,056
559
1,615
1,456
(a)The main assumptions used to determine the provision for pensions and post-retirement healthcare, and other information, including the expected level of future funding payments in
respect of those arrangements, are given in note 29.
(b)The provision for other employee entitlements includes a provision for long-service leave of US$376 million (2024: US$313 million), based on the relevant entitlements in certain Group
operations, and includes US$82 million (2024: US$24 million) of provision for redundancy and severance payments.
(c)Newly consolidated operations relates to the acquisition of Arcadium Lithium plc. Refer to note 5 for details.