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Notes to the financial statements

17. Joint ventures

The Group's share of the summarised financial information of joint venture entities that are proportionately consolidated in the Group financial statements is as follows:

US$ million 2009 2008
Total non-current assets 2,310 1,771
Total current assets 831 415
Total assets classified as held for sale 15 -
Total current liabilities (425) (389)
Total non-current liabilities (763) (509)
Total liabilities directly associated with assets classified as held for sale (6) -
Group's share of joint venture entities' net assets 1,962 1,288
Revenue 1,702 1,414
Operating costs (including special items and remeasurements) (711) (779)
Net finance costs (37) 12
Income tax expense (200) (115)
Group's share of joint venture entities' profit for the financial year 754 532

The Group's share of joint venture entities' contingent liabilities incurred jointly with other venturers is $40 million (2008: $22 million) and its share of capital commitments is $242 million (2008: $414 million).

The Group also holds investments in a number of proportionately consolidated jointly controlled operations. The Group's share of joint venture operations' net assets is $1,224 million (2008: $981 million). The Group's share of joint venture operations' profit for the financial year is $321 million (2008: $554 million). The Group's share of joint venture operations' contingent liabilities incurred jointly with other venturers is $3 million (2008: $98 million) and its share of capital commitments is $107 million (2008: $83 million).

Details of principal joint ventures are set out in note 39.

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Annual Report 2009