Inventory turnover An activity ratio calculated as revenue divided by inventory. Rio Tinto PLC's inventory turnover deteriorated from 2010 to 2011 and from 2011 to 2012.

Receivables turnover An activity ratio equal to revenue divided by receivables. Rio Tinto PLC's receivables turnover improved from 2010 to 2011 but then slightly deteriorated from 2011 to 2012.

Payables turnover An activity ratio calculated as revenue divided by payables. Rio Tinto PLC's payables turnover declined from 2010 to 2011 and from 2011 to 2012.

Working capital turnover An activity ratio calculated as revenue divided by working capital. Rio Tinto PLC's working capital turnover improved from 2010 to 2011 but then slightly deteriorated from 2011 to 2012.

Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Rio Tinto PLC's average inventory processing period deteriorated from 2010 to 2011 and from 2011 to 2012.

Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnoverd. Rio Tinto PLC's average receivable collection period improved from 2010 to 2011 but then slightly deteriorated from 2011 to 2012.

Operating cycle Equal to average inventory processing period plus average receivables collection period. Rio Tinto PLC's operating cycle improved from 2010 to 2011 but then deteriorated significantly from 2011 to 2012.

Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Rio Tinto PLC's average payables payment period increased from 2010 to 2011 and from 2011 to 2012.

Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its