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The data in this section deal with the economic affairs of the BHP Billiton Group and cover both operated assets and our share of unincorporated joint ventures. Details on the financial definitions and further performance information are available in the BHP Billiton Limited Annual Report and BHP Billiton Plc Annual Report that are published at the same time as the HSEC Report. In our capacity as a member of the International Council on Mining and Metals and a signatory to the Global Compact and with our primary listings on the Australian and London stock exchanges, we are keenly aware of the various voluntary codes covering practices in sustainable development and governance more generally.
In formulating the governance principles that guide our operations, Directors have taken into account the various regulatory requirements, together with standards of best practice. Where governance principles vary across these jurisdictions, the Directors have resolved to adopt those principles that they consider to be the better of the prevailing standards.
The Company's diversification by operating assets and by market (turnover) across geographic regions is illustrated in Figures 40 and 41. Figures 42 and 43 provide a breakdown of earnings and employment by Customer Sector Group.
Figure 40.Diversification by Geographic Region(Net Operating Assets) At 30 June 2003 |
Figure 41.Diversification by Market (Turnover)At 30 June 2003 |
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Figure 42.CSG Earnings Before Interest and Tax(EBIT) Excluding Exceptional Items At 30 June 2003 |
Figure 43.Employment by CSG (Data basedon Group Total Employment of 34 800) Average in year to 30 June 2003 |
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Globally, in 2002/03 the Company spent in the order of US$12.5 billion sustaining its businesses. The breakdown of this amount by category is presented in Figure 44, while Figure 45 shows expenditure by region and helps to quantify the regional economic contributions of the Group.
We have also confirmed our support for the Extractive Industries Transparency Initiative regarding disclosure of payments of taxes and royalties. We will work with our host governments that participate in this process to ensure public reporting of these payments. In the interim, we have presented these data on a regional basis in Figure 45.
Figure 44.Total Allocated Expenditureby Category 2002/03 (US$ million) |
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Figure 45. Expenditure by region (US$ million) 2002/03
Expenditure by region (US$ million)1 2002/03
| Income Tax Resource Rent Tax and Royalties |
Employee Payments Goods and Services2 |
Community Contributions4 |
Shareholder Dividends3 |
Regional Totals |
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|---|---|---|---|---|---|
| Africa | 317 | 2 036 | 14 | 72 | 2 439 |
| Australia and Asia | 1 241 | 5 061 | 10 | 396 | 6 708 |
| Europe | 89 | 207 | < 1 | 270 | 567 |
| North America | 95 | 913 | 5 | 162 | 1 175 |
| South America | 88 | 1 476 | 13 | < 1 | 1 577 |
| Global total | 1 830 | 9 693 | 42 | 900 | 12 466 |
1. The data in this table have been rounded and cover operated assets and
the Group's share of unincorporated joint ventures.
2. Due to the way that we currently document the sourcing of all imported materials and services, we have
not been able to allocate all expenditure on goods and services. (Note: these
data have not been audited.) Additional unallocated expenditure on goods and
services totalled US$1302 million globally.
3. Shareholder dividends are based on a shareholder register analysis dated 30 June 2003 and total dividends payable
in FY03.
4. Cover both operated assets and our share of joint ventures.
Figure 45 is also presented in Flash 6 format.
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