$RTNTF

RIO TINTO LTD

CIK:0000887028|SEC Filings

Consolidated income statement - USD ($) $ in Millions	12 Months Ended
Consolidated income statement - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Consolidated operations
Consolidated sales revenue	$ 57,638	$ 53,658	$ 54,041
Net operating costs (excluding items disclosed separately)	(41,784)	(37,745)	(37,052)
Net impairment charges	(341)	(538)	(936)
Gains on consolidation and disposal of interests in businesses	0	1,214	0
Exploration and evaluation expenditure (net of profit from disposal of interests in undeveloped projects)	(577)	(936)	(1,230)
Operating profit	14,936	15,653	14,823
Share of profit after tax of equity accounted units	1,478	838	675
Profit before finance items and taxation	16,414	16,491	15,498
Finance items
Net exchange (losses)/gains on external net debt and intragroup balances	(493)	322	(251)
Gains/(losses) on derivatives not qualifying for hedge accounting	22	(92)	(54)
Finance income	465	514	536
Finance costs	(1,062)	(763)	(967)
Amortisation of discount on provisions	(778)	(857)	(977)
Net finance income (expense)	(1,846)	(876)	(1,713)
Profit before taxation	14,568	15,615	13,785
Taxation	(4,319)	(4,041)	(3,832)
Profit after tax for the year	10,249	11,574	9,953
– attributable to owners of Rio Tinto (net earnings)	9,966	11,552	10,058
– attributable to non-controlling interests	$ 283	$ 22	$ (105)
Basic earnings per share (in usd per share)	$ 6.137	$ 7.117	$ 6.203
Diluted earnings per share (in usd per share)	$ 6.084	$ 7.072	$ 6.165

Consolidated cash flow statement - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2025

Dec. 31, 2024

Dec. 31, 2023

Statement of cash flows [abstract]

Cash flows from consolidated operations

^[1]

$ 21,153

$ 19,859

$ 20,251

Dividends from equity accounted units

1,070

1,067

610

Cash flows from operations

22,223

20,926

20,861

Net interest paid

(862)

(685)

(612)

Dividends paid to holders of non-controlling interests in subsidiaries

(314)

(477)

(462)

Tax paid

(4,215)

(4,165)

(4,627)

Net cash generated from operating activities

16,832

15,599

15,160

Cash flows from investing activities

Purchases of property, plant and equipment and intangible assets

^[2]

(12,335)

(9,621)

(7,086)

Sales of property, plant and equipment and intangible assets

Acquisitions of subsidiaries, joint ventures and associates, net of cash acquired

(6,022)

(346)

(834)

Disposals of subsidiaries, joint ventures, joint operations and associates

427

Purchases of financial assets

(385)

(113)

(39)

Sales of financial assets

^[3]

223

677

1,220

Net funding of equity accounted units

^[2]

(669)

(784)

(144)

Other investing cash flows

(197)

136

(88)

Net cash used in investing activities

(19,335)

(9,594)

(6,962)

Cash flows before financing activities

(2,503)

6,005

8,198

Cash flows from financing activities

Equity dividends paid to owners of Rio Tinto

(6,145)

(7,025)

(6,470)

Proceeds from additional borrowings, net of issue costs

16,019

261

1,833

Repayment of borrowings and associated derivatives

(8,189)

(860)

(310)

Lease principal payments

(522)

(455)

(426)

Proceeds from issue of equity to non-controlling interests

^[2]

1,628

1,574

127

Purchase of non-controlling interest

(591)

(33)

Other financing cash flows

(2)

Net cash from/(used in) financing activities

2,789

(7,094)

(5,277)

Effects of exchange rates on cash and cash equivalents

(99)

(23)

Net increase/(decrease) in cash and cash equivalents

381

(1,188)

2,898

Opening cash and cash equivalents less overdrafts

8,484

9,672

6,774

Closing cash and cash equivalents less overdrafts

$ 8,865

$ 8,484

$ 9,672

[1]


(a) Cash flows from consolidated operations	Note	2025 US$m	2024 US$m	2023 US$m
Profit after tax for the year		10,249	11,574	9,953
Adjustments for:
– Taxation		4,319	4,041	3,832
– Finance items		1,846	876	1,713
– Share of profit after tax of equity accounted units		(1,478)	(838)	(675)
– Gains on consolidation and disposal of interests in businesses	5	–	(1,214)	–
– Net impairment charges	4	341	538	936
– Depreciation and amortisation		6,577	5,918	5,334
– Provisions (including exchange differences on provisions)		998	398	1,470
Utilisation of other provisions	19	(402)	(94)	(104)
Utilisation of provisions for close-down and restoration	14	(1,049)	(1,142)	(777)
Utilisation of provisions for post-retirement benefits and other employment costs	27	(183)	(133)	(277)
Change in inventories		(377)	205	(422)
Change in receivables and other assets		(460)	(202)	(418)
Change in trade and other payables		593	54	(86)
Other items(d)		179	(122)	(228)
		21,153	19,859	20,251

[2]

In 2025, our net cash outflow in relation to the Simandou iron ore project, excluding cash generated from operating activities, was US$1,455 million (2024: US$1,292 million). This

includes cash outflows of US$2,219 million (2024: US$1,832 million) for purchases of property, plant and equipment, and US$557 million as net funding of equity accounted units for

the funding of shared infrastructure in the WCS Rail and Port Holding Entities (2024: US$652 million, in addition to an initial US$313 million for the acquisition of the WCS Rail and

Port Holding Entities). We received related cash inflows of US$1,321 million from Chalco Iron Ore Holdings Ltd (CIOH) for cash calls by SimFer Jersey Limited (2024: US$1,505

million, of which US$411 million related to CIOH’s share of expenditure incurred up until the end of December 2023 to progress critical works).

[3]

In 2025, we received net proceeds of US$218 million (2024: US$675 million and 2023: US$1,157 million) from our sales and purchases of investments within a separately managed

portfolio of fixed income instruments. Refer to note 20 for details. Purchases and sales of these securities are reported on a net cash flow basis within “Sales of financial assets” or

“Purchases of financial assets” depending on the overall net position at each reporting date.

Consolidated balance sheet - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Non-current assets
Goodwill	$ 2,949	$ 727
Intangible assets	5,227	2,804
Property, plant and equipment	84,310	68,573
Investments in equity accounted units	5,881	4,837
Inventories	338	222
Deferred tax assets	4,288	4,016
Receivables and other assets	1,841	1,397
Other financial assets	1,699	1,090
Non-current assets	106,533	83,666
Current assets
Inventories	6,968	5,860
Receivables and other assets	4,996	4,241
Tax recoverable	159	105
Other financial assets	574	419
Cash and cash equivalents	8,872	8,495
Current assets	21,569	19,120
Total assets	128,102	102,786
Current liabilities
Borrowings	(733)	(180)
Leases	(524)	(354)
Other financial liabilities	(249)	(112)
Trade and other payables	(10,133)	(8,178)
Tax payable	(587)	(585)
Close-down, restoration and environmental provisions	(1,128)	(1,183)
Provisions for post-retirement benefits and other employment costs	(473)	(359)
Other provisions	(1,103)	(792)
Current liabilities	(14,930)	(11,743)
Non-current liabilities
Borrowings	(21,198)	(12,262)
Leases	(1,062)	(1,059)
Other financial liabilities	(555)	(591)
Trade and other payables	(982)	(543)
Tax payable	(39)	(28)
Deferred tax liabilities	(4,094)	(2,635)
Close-down, restoration and environmental provisions	(16,703)	(14,548)
Provisions for post-retirement benefits and other employment costs	(1,142)	(1,097)
Other provisions	(373)	(315)
Non-current liabilities	(46,148)	(33,078)
Total liabilities	(61,078)	(44,821)
Net assets	67,024	57,965
Capital and reserves
Share premium account	4,329	4,326
Other reserves	7,788	5,114
Retained earnings	46,581	42,539
Equity attributable to owners of Rio Tinto	62,203	55,246
Attributable to non-controlling interests	4,821	2,719
Total equity	67,024	57,965
– Rio Tinto plc
Capital and reserves
Share capital	207	207
– Rio Tinto Limited
Capital and reserves
Share capital	$ 3,298	$ 3,060