Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 353

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 353
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2024 , US$ 947million ( 2023 : US$ 925million ) of inventories were pledged as security for liabilities.

| Annual Report on Form 20-F 2024 | 196 | riotinto.com |

Financial statements | Notes to the consolidated financial statements

17 Receivables and other assets

Recognition and measurement

Financial assets (except provisionally priced receivables) which are held under a hold to collect business model and have cash flows that meet

the solely payments of principal and interest (SPPI) criteria are recognised at amortised cost. Provisionally priced receivables are measured at

fair value through profit or loss with subsequent fair value gains or losses taken to the income statement.

As a part of our working capital management, we offer receivables factoring and letter of credit programs for our customers/receivables. For our

receivables under letter of credit programs, the business model of "hold to collect" has not changed and these continue to be recognised at amortised

cost as the sale of the letter of credit is made close to maturity of receivables and discounting costs are immaterial. The receivables under our global

factoring program do not meet the "hold to collect" model and therefore are recognised at fair value through profit or loss and continue to be classified

as trade receivables within operating cash flows. US$ 588million of receivables ( 2023 : US$ 475million ) are subject to our factoring program and

US$ 510million ( 2023 : US$ 372million ) of receivables subject to a letter of credit discounting program have been transferred to the participating banks

and derecognised at the reporting date.

|                                                                 |            2024 |             |           |            2023 |             |           |
|                                                                 | Non-currentUS$m | CurrentUS$m | TotalUS$m | Non-currentUS$m | CurrentUS$m | TotalUS$m |
| Trade receivables(a)                                            |               – |       2,344 |     2,344 |               – |       2,461 |     2,461 |
| Other financial receivables(a)                                  |             355 |         643 |       998 |             234 |         548 |       782 |
| Other receivables(b)                                            |             380 |         429 |       809 |             470 |         347 |