Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 426

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 426
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 a gross production royalty which was retained following the disposal of the Cortez Complex in 2008. The gain recognised on sale of the royalty was excluded from underlying earnings on the grounds of individual magnitude. (k) I n 2022, w e wrote down our deferred tax assets in the US following the introduction of the Corporate Alternative Minimum Tax regime. Refer to note 10 for details.

| Annual Report on Form 20-F 2024 | 271 | riotinto.com |

Financial statements | Additional financial information

Basic underlying earnings per share Basic underlying earnings per share is calculated as underlying earnings divided by the weighted average number of shares outstanding during the year.

|                                                      | 2024(cents) | 2023(cents) | 2022(cents) |
| Basic earnings per ordinary share                    |       711.7 |       620.3 |       765.0 |
| Items excluded from underlying earnings per share(a) |       -42.2 |       104.7 |        59.7 |
| Basic underlying earnings per ordinary share         |       669.5 |       725.0 |       824.7 |

(a) Calculation of items excluded from underlying earnings per share.

|                                                                   |    2024 |    2023 |    2022 |
| Items excluded from underlying earnings (US$m) (refer to page270) |  -685.0 | 1,697.0 |   967.0 |
| Weighted average number of shares (millions)                      | 1,623.1 | 1,621.4 | 1,619.8 |
| Items excluded from underlying earnings per share (cents)         |   -42.2 |   104.7 |    59.7 |

We have provided basic underlying earnings per share as this allows the comparability of financial performance adjusted to exclude items which do not reflect the underlying performance of the Group's operations. Interest cover Interest cover is a financial metric used to monitor our ability to service debt. It represents the number of times finance income and finance costs (including amounts capitalised) are covered by profit before taxation, before finance income, finance costs, share of profit after tax of equity accounted units and items excluded from underlying earnings, plus dividends from equity accounted units.

|                                                     | 2024US$m | 2023US$m |
| Profit before taxation                              |   15,615 |   13,785 |
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