Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 349

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 349
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182million ) are subject to expiry if not recovered within certain time limits as specified in local tax legislation and

investment agreements. O f those recognised assets, US$ 66million ( 2023 : US$ nil ) would expire within one year if not used, US$ 93million ( 2023 : US$ 140million ) would expire within one to

5years , and US$ 1,134million ( 2023 : US$ 1,042million ) would expire in more than 5years .

(d) Recognised and unrecognised deferred tax assets are shown in the table on page 195 and totalled US$ 9,994million at 31 December 2024 ( 2023 : US$ 10,040million ). Of this total,

US$ 4,016million has been recognised as deferred tax assets ( 2023 : US$ 3,624million ), leaving US$ 5,978million ( 2023 : US$ 6,416million ) unrecognised, as recovery is not considered

probable.

(e) Deferred tax liabilities are not recognised on the unremitted earnings of subsidiaries and joint ventures totalling US$ 2,152million ( 2023 : US$ 2,249million ) where the Group is able to control

the timing of the remittance and it is probable that there will be no remittance in the foreseeable future. If these earnings were remitted, tax of US$ 99million ( 2023 : US$ 110million ) would be

payable.

| Annual Report on Form 20-F 2024 | 194 | riotinto.com |

Financial statements | Notes to the consolidated financial statements

15 Deferred taxation continued Analysis of deferred tax

Deferred tax balances for which there is a right of offset within the same tax jurisdiction are presented net on the face of the balance sheet as

required by IAS 12. The closing deferred tax assets and liabilities, prior to this offsetting of balances, are shown below.

|                                            | 2024US$m | 2023US$m |
| Deferred tax assets arising from:          |          |          |
| Tax losses(a)                              |    1,461 |    1,474 |
| Provisions and other liabilities           |    4,710 |    3,835 |
| Capital allowances                         |    1,024 |      961 |
| Post-retirement benefits                   |      187 |