Cover Page
Cover Page | 6 Months Ended |
Jun. 30, 2021 | |
Cover [Abstract] | |
Document Type | 6-K |
Entity File Number | 1-32575 |
Entity Registrant Name | Royal Dutch Shell plc |
Entity Address, Address Line One | Carel van Bylandtlaan 30 |
Entity Address, Postal Zip Code | 2596 HR |
Entity Address, City or Town | The Hague |
Entity Address, Country | NL |
Amendment Flag | false |
Document Period End Date | Jun. 30, 2021 |
Document Fiscal Year Focus | 2021 |
Document Fiscal Period Focus | Q2 |
Entity Central Index Key | 0001306965 |
Current Fiscal Year End Date | --12-31 |
CONSOLIDATED STATEMENT OF INCOM
CONSOLIDATED STATEMENT OF INCOME - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | ||
Profit or loss [abstract] | ||||||
Revenue | [1] | $ 60,515 | $ 55,665 | $ 32,504 | $ 116,181 | $ 92,533 |
Share of profit of joint ventures and associates | 1,114 | 995 | (161) | 2,108 | 693 | |
Interest and other income | [2] | 2,590 | 224 | |||
Total revenue and other income | 61,764 | 59,115 | 32,491 | 120,879 | 93,450 | |
Purchases | 39,717 | 34,369 | 18,093 | 74,086 | 61,306 | |
Production and manufacturing expenses | 5,162 | 6,808 | 5,822 | 11,970 | 11,803 | |
Selling, distribution and administrative expenses | 3,107 | 2,462 | 2,370 | 5,569 | 4,763 | |
Research and development | 201 | 166 | 232 | 366 | 475 | |
Exploration | 332 | 285 | 723 | 617 | 1,018 | |
Depreciation, depletion and amortisation | [2] | 8,223 | 5,896 | 28,089 | 14,119 | 35,182 |
Interest expense | 893 | 892 | 1,070 | 1,784 | 2,188 | |
Total expenditure | 57,634 | 50,878 | 56,398 | 108,512 | 116,735 | |
Income/(loss) before taxation | 4,130 | 8,237 | (23,907) | 12,367 | (23,284) | |
Taxation charge/(credit) | 571 | 2,453 | (5,806) | 3,024 | (5,160) | |
Income/(loss) for the period | [1] | 3,559 | 5,784 | (18,101) | 9,343 | (18,124) |
Income/(loss) attributable to non-controlling interest | 131 | 124 | 30 | 255 | 31 | |
Income/(loss) attributable to Royal Dutch Shell plc shareholders | $ 3,428 | $ 5,660 | $ (18,131) | $ 9,087 | $ (18,155) | |
Basic earnings per share ($ per share) | [3] | $ 0.44 | $ 0.73 | $ (2.33) | $ 1.17 | $ (2.33) |
Diluted earnings per share ($ per share) | [3] | $ 0.44 | $ 0.72 | $ (2.33) | $ 1.16 | $ (2.33) |
[1] | See Note 2 “Segment information”. | |||||
[2] | See Note 7 “Other notes to the unaudited Condensed Consolidated Interim Financial Statements”. | |||||
[3] | See Note 3 “Earnings per share”. |
CONSOLIDATED STATEMENT OF COMPR
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | ||
Statement of comprehensive income [abstract] | ||||||
Income/(loss) for the period | [1] | $ 3,559 | $ 5,784 | $ (18,101) | $ 9,343 | $ (18,124) |
Items that may be reclassified to income in later periods: | ||||||
- Currency translation differences | 575 | (852) | 1,588 | (277) | (2,347) | |
- Debt instruments remeasurements | (2) | (14) | 43 | (16) | 15 | |
- Cash flow hedging gains/(losses) | (84) | 132 | (137) | 48 | (289) | |
- Net investment hedging gains/(losses) | (51) | 171 | (99) | 120 | (99) | |
- Deferred cost of hedging | (20) | (34) | 55 | (54) | 156 | |
- Share of other comprehensive income/(loss) of joint ventures and associates | (7) | (56) | 30 | (63) | (30) | |
Total | 410 | (652) | 1,481 | (242) | (2,593) | |
Items that are not reclassified to income in later periods: | ||||||
- Retirement benefits remeasurements | 1,675 | 4,628 | (4,924) | 6,303 | (3,167) | |
- Equity instruments remeasurements | 10 | 40 | 77 | 50 | (60) | |
- Share of other comprehensive income/(loss) of joint ventures and associates | (42) | (25) | 19 | (67) | 67 | |
Total | 1,643 | 4,643 | (4,828) | 6,285 | (3,160) | |
Other comprehensive income/(loss) for the period | 2,053 | 3,991 | (3,347) | 6,044 | (5,753) | |
Comprehensive income/(loss) for the period | 5,612 | 9,775 | (21,448) | 15,386 | (23,877) | |
Comprehensive income/(loss) attributable to non-controlling interest | 145 | 121 | 43 | 266 | (80) | |
Comprehensive income/(loss) attributable to Royal Dutch Shell plc shareholders | $ 5,467 | $ 9,653 | $ (21,490) | $ 15,121 | $ (23,797) | |
[1] | See Note 2 “Segment information”. |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions | Jun. 30, 2021 | Dec. 31, 2020 | |
Non-current assets | |||
Intangible assets | $ 22,462 | $ 22,822 | |
Property, plant and equipment | 205,272 | 210,847 | |
Joint ventures and associates | 23,248 | 22,451 | |
Investments in securities | 3,554 | 3,222 | |
Deferred tax | 14,392 | 16,311 | |
Retirement benefits | [1] | 7,941 | 2,474 |
Trade and other receivables | 7,798 | 7,641 | |
Derivative financial instruments | [2] | 1,508 | 2,805 |
Non-current assets | 286,175 | 288,573 | |
Current assets | |||
Inventories | 25,097 | 19,457 | |
Trade and other receivables | 43,694 | 33,625 | |
Derivative financial instruments | [2] | 8,787 | 5,783 |
Cash and cash equivalents | 34,104 | 31,830 | |
Current assets | 111,682 | 90,695 | |
Total assets | 397,857 | 379,268 | |
Non-current liabilities | |||
Debt | 87,034 | 91,115 | |
Trade and other payables | 2,885 | 2,304 | |
Derivative financial instruments | [2] | 385 | 420 |
Deferred tax | 11,717 | 10,463 | |
Retirement benefits | [1],[3] | 12,435 | 15,605 |
Decommissioning and other provisions | 27,657 | 27,310 | |
Non-current liabilities | 142,112 | 147,217 | |
Current liabilities | |||
Debt | 13,042 | 16,899 | |
Trade and other payables | [3] | 54,948 | 44,572 |
Derivative financial instruments | [2] | 10,385 | 5,308 |
Income tax payable | [3] | 2,837 | 3,111 |
Decommissioning and other provisions | 3,290 | 3,624 | |
Current liabilities | 84,502 | 73,514 | |
Total liabilities | 226,614 | 220,731 | |
Equity attributable to Royal Dutch Shell plc shareholders | 167,999 | 155,310 | |
Non-controlling interest | 3,244 | 3,227 | |
Total equity | 171,243 | 158,537 | |
Total liabilities and equity | $ 397,857 | $ 379,268 | |
[1] | See Note 7 "Other notes to the unaudited Condensed Consolidated Interim Financial Statements". | ||
[2] | See Note 6 “Derivative financial instruments and debt excluding lease liabilities”. | ||
[3] | As from January 1, 2021 the 'Retirement benefits' liability has been classified under non-current liabilities (previously partly presented within current liabilities) and taxes payable not related to income tax are presented within 'Trade and other payables' (previously 'Taxes payable'). Prior period comparatives have been revised to conform with current year presentation. See Note 7. |
CONSOLIDATED STATEMENT OF CHANG
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - USD ($) $ in Millions | Total | Total | Share capital | [1] | Shares held in trust | Other reserves | [2] | Retained earnings | Non-controlling interest | |
Beginning balance at Dec. 31, 2019 | $ 190,463 | $ 186,476 | $ 657 | $ (1,063) | $ 14,451 | $ 172,431 | $ 3,987 | |||
Comprehensive income/(loss) for the period | (23,877) | (23,797) | (5,642) | (18,155) | (80) | |||||
Transfer from other comprehensive income | 0 | 0 | 17 | (17) | ||||||
Dividends | [3] | (4,896) | (4,718) | (4,718) | (178) | |||||
Repurchases of shares | (1,214) | (1,214) | (6) | 6 | (1,214) | |||||
Share-based compensation | (16) | (16) | 539 | (324) | (231) | |||||
Other changes in non-controlling interest | (14) | 426 | 426 | (440) | ||||||
Ending balance at Jun. 30, 2020 | 160,445 | 157,156 | 651 | (524) | 8,508 | 148,521 | 3,289 | |||
Beginning balance at Dec. 31, 2020 | 158,537 | 155,310 | 651 | (709) | 12,752 | 142,616 | 3,227 | |||
Comprehensive income/(loss) for the period | 15,386 | 15,121 | 6,033 | 9,087 | 266 | |||||
Transfer from other comprehensive income | 0 | 0 | (15) | 15 | ||||||
Dividends | [3] | (2,886) | (2,620) | (2,620) | (265) | |||||
Share-based compensation | 190 | 190 | 350 | (219) | 59 | |||||
Other changes in non-controlling interest | 15 | (2) | (2) | 16 | ||||||
Ending balance at Jun. 30, 2021 | $ 171,243 | $ 167,999 | $ 651 | $ (358) | $ 18,552 | $ 149,155 | $ 3,244 | |||
[1] | See Note 4 “Share capital”. | |||||||||
[2] | See Note 5 “Other reserves”. | |||||||||
[3] | The amount charged to retained earnings is based on prevailing exchange rates on payment date. |
CONSOLIDATED STATEMENT OF CASH
CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | ||
Statement of cash flows [abstract] | ||||||
Income before taxation for the period | $ 4,130 | $ 8,237 | $ (23,907) | $ 12,367 | $ (23,284) | |
Adjustment for: | ||||||
– Interest expense (net) | 797 | 757 | 889 | 1,554 | 1,786 | |
– Depreciation, depletion and amortisation | 8,223 | 5,896 | 28,089 | 14,119 | 35,182 | |
– Exploration well write-offs | 108 | 136 | 518 | 244 | 601 | |
– Net (gains)/losses on sale and revaluation of non-current assets and businesses | 55 | (2,073) | (128) | (2,018) | (21) | |
– Share of (profit)/loss of joint ventures and associates | (1,114) | (995) | 161 | (2,108) | (693) | |
– Dividends received from joint ventures and associates | 782 | 580 | 610 | 1,361 | 1,141 | |
– (Increase)/decrease in inventories | (2,495) | (3,426) | (3,713) | (5,921) | 5,881 | |
– (Increase)/decrease in current receivables | (4,080) | (6,829) | 3,959 | (10,909) | 10,273 | |
– Increase/(decrease) in current payables | 5,016 | 5,865 | (4,226) | 10,881 | (12,655) | |
– Derivative financial instruments | 2,173 | 185 | 837 | 2,358 | 665 | |
– Retirement benefits | 47 | 109 | 293 | 156 | 203 | |
– Decommissioning and other provisions | (124) | 77 | 392 | (46) | 290 | |
– Other | 561 | 583 | (480) | 1,145 | 98 | |
Tax paid | (1,465) | (809) | (730) | (2,274) | (2,051) | |
Cash flow from operating activities | 12,617 | 8,294 | 2,563 | 20,910 | 17,415 | |
Capital expenditure | (4,232) | (3,885) | (3,436) | (8,117) | (7,699) | |
Investments in joint ventures and associates | (115) | (69) | (161) | (184) | (720) | |
Investments in equity securities | (36) | (21) | (20) | (57) | (167) | |
Proceeds from sale of property, plant and equipment and businesses | 1,162 | 3,106 | 211 | 4,268 | 1,824 | |
Proceeds from joint ventures and associates from sale, capital reduction and repayment of long-term loans | [1] | 4 | 275 | 423 | 279 | 970 |
Proceeds from sale of equity securities | 108 | 31 | 62 | 139 | 135 | |
Interest received | 110 | 98 | 118 | 209 | 310 | |
Other investing cash inflows | 799 | 711 | 1,174 | 1,510 | 2,029 | |
Other investing cash outflows | (746) | (837) | (691) | (1,583) | (1,719) | |
Cash flow from investing activities | (2,946) | (590) | (2,320) | (3,535) | (5,039) | |
Net increase/(decrease) in debt with maturity period within three months | (34) | 113 | 90 | 79 | 412 | |
Other debt: | ||||||
– New borrowings | 57 | 109 | 15,238 | 166 | 16,241 | |
– Repayments | (3,901) | (5,707) | (7,113) | (9,607) | (9,836) | |
Interest paid | (1,162) | (806) | (1,088) | (1,968) | (2,121) | |
Derivative financial instruments | (57) | (449) | 324 | (506) | 243 | |
Change in non-controlling interest | 0 | 15 | (32) | 15 | (40) | |
Cash dividends paid to: | ||||||
– Royal Dutch Shell plc shareholders | [2] | (1,310) | (1,292) | (1,397) | (2,602) | (4,880) |
– Non-controlling interest | (140) | (125) | (68) | (265) | (178) | |
Repurchases of shares | [3] | 0 | (216) | (216) | (216) | (1,702) |
Shares held in trust: net sales/(purchases) and dividends received | (2) | (63) | (18) | (65) | (199) | |
Cash flow from financing activities | (6,550) | (8,420) | 5,721 | (14,970) | (2,060) | |
Effects of exchange rate changes on cash and cash equivalents | (2) | (128) | 164 | (130) | (431) | |
Increase/(decrease) in cash and cash equivalents | 3,119 | (844) | 6,128 | 2,275 | 9,884 | |
Cash and cash equivalents at beginning of period | 30,985 | 31,830 | 21,811 | 31,830 | 18,055 | |
Cash and cash equivalents at end of period | $ 34,104 | $ 30,985 | $ 27,939 | $ 34,104 | $ 27,939 | |
[1] | As from 2021 renamed from 'Proceeds from sale of joint ventures and associates'. | |||||
[2] | Cash dividends paid represents the payment of net dividends (after deduction of withholding taxes where applicable) and payment of withholding taxes on dividends paid in the previous quarter. | |||||
[3] | The amount in Q1 2021 represents a payment of withholding taxes related to repurchases of shares in Q1 2020. |
Basis of preparation
Basis of preparation | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure Of Basis Of Preparation Of Financial Statements [Abstract] | |
Basis of Preparation | Basis of preparation These unaudited Condensed Consolidated Interim Financial Statements ("Interim Statements") of Royal Dutch Shell plc (“the Company”) and its subsidiaries (collectively referred to as “Shell”) have been prepared in accordance with IAS 34 Interim Financial Reporting as issued by the International Accounting Standards Board ("IASB") and as adopted by the UK. For periods beginning on or after January 1, 2021, Shell's (interim) financial statements are prepared in accordance with UK-adopted international accounting standards which were established as a result of the UK's exit from the European Union. As applied to Shell there are no material differences from International Financial Reporting Standards as issued by the IASB. Except for the application of UK-adopted international accounting standards these Interim Statements have been prepared on the basis of the same accounting principles as those used in the Annual Report and Accounts (pages 216 to 264) and Form 20-F (pages 164 to 211) for the year ended December 31, 2020 as filed with the Registrar of Companies for England and Wales and the US Securities and Exchange Commission, respectively, and should be read in conjunction with these filings. The financial information presented in the unaudited Interim Statements does not constitute statutory accounts within the meaning of section 434(3) of the Companies Act 2006 (“the Act”). Statutory accounts for the year ended December 31, 2020 were published in Shell’s Annual Report and Accounts, a copy of which was delivered to the Registrar of Companies for England and Wales, and in Shell's Form 20-F. The auditor’s report on those accounts was unqualified, did not include a reference to any matters to which the auditor drew attention by way of emphasis without qualifying the report and did not contain a statement under sections 498(2) or 498(3) of the Act. Going concern These unaudited Interim Statements have been prepared on the going concern basis of accounting. In assessing the appropriateness of the going concern assumption over the period to December 31, 2022 (the "going concern period"), management have stress tested Shell’s most recent financial projections to incorporate a range of potential future outcomes by considering Shell’s principal risks, further potential downside pressures on commodity prices and cash preservation measures, including reduced future operating costs, capital expenditure, shareholder distributions and increased divestments. This assessment confirmed that Shell has adequate cash, other liquid resources and undrawn credit facilities to enable it to meet its obligations as they fall due in order to continue its operations during the going concern period. Therefore, the Directors consider it appropriate to continue to adopt the going concern basis of accounting in preparing these unaudited Interim Statements. Key accounting considerations, significant judgements and estimates |
Segment information
Segment information | 6 Months Ended |
Jun. 30, 2021 | |
Operating Segments [Abstract] | |
Segment information | Segment information Segment earnings are presented on a current cost of supplies basis (CCS earnings), which is the earnings measure used by the Chief Executive Officer for the purposes of making decisions about allocating resources and assessing performance. On this basis, the purchase price of volumes sold during the period is based on the current cost of supplies during the same period after making allowance for the tax effect. CCS earnings therefore exclude the effect of changes in the oil price on inventory carrying amounts. Sales between segments are based on prices generally equivalent to commercially available prices. INFORMATION BY SEGMENT Quarters $ million Half year Q2 2021 Q1 2021 Q2 2020 2021 2020 Third-party revenue 9,247 11,258 7,436 Integrated Gas 20,505 17,593 2,242 1,941 1,177 Upstream 4,183 3,521 44,570 38,382 21,596 Oil Products 82,952 65,893 4,444 4,070 2,283 Chemicals 8,514 5,504 12 14 12 Corporate 26 22 60,515 55,665 32,504 Total third-party revenue¹ 116,181 92,533 Inter-segment revenue 1,794 1,351 558 Integrated Gas 3,145 1,449 8,924 7,254 4,117 Upstream 16,178 10,592 3,017 2,457 1,082 Oil Products 5,473 2,933 1,633 1,187 475 Chemicals 2,820 1,350 — — — Corporate — — CCS earnings 422 2,527 (7,959) Integrated Gas 2,949 (6,147) 2,415 1,096 (6,721) Upstream 3,511 (7,584) 33 650 (3,023) Oil Products 682 (811) 462 689 164 Chemicals 1,152 311 (592) (531) (805) Corporate (1,124) (1,258) 2,741 4,430 (18,343) Total CCS earnings 7,171 (15,490) 1. Includes revenue from sources other than from contracts with customers, which mainly comprises the impact of fair value accounting of commodity derivatives. Second quarter 2021 included losses of $340 million (Q1 2021: $1,211 million income; Q2 2020: $1,405 million income). This amount includes both the reversal of prior losses of $374 million (Q1 2021: $385 million losses; Q2 2020: $686 million gains) related to sales contracts and prior gains of $434 million (Q1 2021: $465 million gains; Q2 2020: $507 million losses) related to purchase contracts that were previously recognised and where physical settlement took place in the second quarter 2021. RECONCILIATION OF INCOME FOR THE PERIOD TO CCS EARNINGS Quarters $ million Half year Q2 2021 Q1 2021 Q2 2020 2021 2020 3,428 5,660 (18,131) Income/(loss) attributable to Royal Dutch Shell plc shareholders 9,087 (18,155) 131 124 30 Income/(loss) attributable to non-controlling interest 255 31 3,559 5,784 (18,101) Income/(loss) for the period 9,343 (18,124) Current cost of supplies adjustment: (994) (1,631) (432) Purchases (2,625) 3,342 208 353 98 Taxation 562 (819) (33) (76) 92 Share of profit/(loss) of joint ventures and associates (108) 111 (818) (1,354) (242) Current cost of supplies adjustment (2,172) 2,634 of which: (793) (1,314) (246) Attributable to Royal Dutch Shell plc shareholders (2,108) 2,535 (25) (39) 4 Attributable to non-controlling interest (64) 100 2,741 4,430 (18,343) CCS earnings 7,171 (15,490) of which: 2,634 4,345 (18,377) CCS earnings attributable to Royal Dutch Shell plc shareholders 6,980 (15,620) 106 85 34 CCS earnings attributable to non-controlling interest 191 131 |
Earnings per share
Earnings per share | 6 Months Ended |
Jun. 30, 2021 | |
Earnings per share [abstract] | |
Earnings per Share | Earnings per share EARNINGS PER SHARE Quarters Half year Q2 2021 Q1 2021 Q2 2020 2021 2020 3,428 5,660 (18,131) Income/(loss) attributable to Royal Dutch Shell plc shareholders ($ million) 9,087 (18,155) Weighted average number of shares used as the basis for determining: 7,790.1 7,782.1 7,789.8 Basic earnings per share (million) 7,786.1 7,804.8 7,835.9 7,832.3 7,789.8 Diluted earnings per share (million) 7,834.2 7,804.8 |
Share capital
Share capital | 6 Months Ended |
Jun. 30, 2021 | |
Share Capital, Reserves And Other Equity Interest [Abstract] | |
Share capital | Share capital ISSUED AND FULLY PAID ORDINARY SHARES OF €0.07 EACH 1 Number of shares Nominal value ($ million) A B A B Total At January 1, 2021 4,101,239,499 3,706,183,836 345 306 651 At June 30, 2021 4,101,239,499 3,706,183,836 345 306 651 At January 1, 2020 4,151,787,517 3,729,407,107 349 308 657 Repurchases of shares (50,548,018) (23,223,271) (4) (2) (6) At June 30, 2020 4,101,239,499 3,706,183,836 345 306 651 1. Share capital at June 30, 2021 also included 50,000 issued and fully paid sterling deferred shares of £1 each. |
Other reserves
Other reserves | 6 Months Ended |
Jun. 30, 2021 | |
Share Capital, Reserves And Other Equity Interest [Abstract] | |
Other reserves | Other reserves OTHER RESERVES $ million Merger reserve Share premium reserve Capital redemption reserve Share plan reserve Accumulated other comprehensive income Total At January 1, 2021 37,298 154 129 906 (25,735) 12,752 Other comprehensive income/(loss) attributable to Royal Dutch Shell plc shareholders — — — — 6,033 6,033 Transfer from other comprehensive income — — — — (15) (15) Share-based compensation — — — (219) — (219) At June 30, 2021 37,298 154 129 687 (19,717) 18,552 At January 1, 2020 37,298 154 123 1,049 (24,173) 14,451 Other comprehensive income/(loss) attributable to Royal Dutch Shell plc shareholders — — — — (5,642) (5,642) Transfer from other comprehensive income — — — — 17 17 Repurchases of shares — — 6 — — 6 Share-based compensation — — — (324) — (324) At June 30, 2020 37,298 154 129 725 (29,798) 8,508 The merger reserve and share premium reserve were established as a consequence of Royal Dutch Shell plc becoming the single parent company of Royal Dutch Petroleum Company and The “Shell” Transport and Trading Company, p.l.c., now The Shell |
Derivative financial instrument
Derivative financial instruments and debt excluding lease liabilities | 6 Months Ended |
Jun. 30, 2021 | |
Financial Instruments [Abstract] | |
Derivative financial instruments and debt excluding lease liabilities | Derivative financial instruments and debt excluding lease liabilities As disclosed in the Consolidated Financial Statements for the year ended December 31, 2020, presented in the Annual Report and Accounts and Form 20-F for that year, Shell is exposed to the risks of changes in fair value of its financial assets and liabilities. The fair values of the financial assets and liabilities are defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Methods and assumptions used to estimate the fair values at June 30, 2021, are consistent with those used in the year ended December 31, 2020, though the carrying amounts of derivative financial instruments measured using predominantly unobservable inputs have changed since that date. The table below provides the comparison of the fair value with the carrying amount of debt excluding lease liabilities, disclosed in accordance with IFRS 7 Financial Instruments: Disclosures. DEBT EXCLUDING LEASE LIABILITIES $ million June 30, 2021 December 31, 2020 Carrying amount 71,736 79,594 Fair value¹ 78,216 88,294 |
Other notes to the unaudited Co
Other notes to the unaudited Condensed Consolidated Interim Financial Statements | 6 Months Ended |
Jun. 30, 2021 | |
Other notes to the unaudited Condensed Consolidated Interim Financial Statements [Abstract] | |
Other notes to the unaudited Condensed Consolidated Interim Financial Statements | Other notes to the unaudited Condensed Consolidated Interim Financial Statements Consolidated Statement of Income Interest and other income Quarters $ million Half year Q2 2021 Q1 2021 Q2 2020 2021 2020 134 2,455 148 Interest and other income 2,590 224 of which: 95 134 158 Interest income 230 357 34 1 14 Dividend income (from investments in equity securities) 35 16 (55) 2,073 128 Net gains on sales and revaluation of non-current assets and businesses 2,018 21 4 85 (124) Net foreign exchange (losses)/gains on financing activities 90 (206) 56 161 (27) Other 217 36 Depreciation, depletion and amortisation Quarters $ million Half year Q2 2021 Q1 2021 Q2 2020 2021 2020 8,223 5,896 28,089 Depreciation, depletion and amortisation 14,119 35,182 Depreciation, depletion and amortisation in Q2 2021 includes $2,333 million pre-tax (Q1 2021:$84 million; Q2 2020:$21,780 million) of impairments mainly related to two refineries in the USA within Oil Products classified as held for sale ($1,207 million), one site in the USA within Chemicals classified as held for sale ($177 million) and an exploration and evaluation asset within Integrated Gas ($600 million). Taxation charge/(credit) Quarters $ million Half year Q2 2021 Q1 2021 Q2 2020 2021 2020 571 2,453 (5,806) Taxation charge/(credit) 3,024 (5,160) The taxation charge for Q2 2021 includes a one-off release of a tax provision in Nigeria of $628 million. Condensed Consolidated Balance Sheet Retirement benefits $ million June 30, 2021 December 31, 2020 Non-current assets Retirement benefits 7,941 2,474 Non-current liabilities Retirement benefits¹ 12,435 15,605 Deficit 4,494 13,131 1. As from January 1, 2021 the 'Retirement benefits' liability has been classified under non-current liabilities (previously partly presented within current liabilities). Prior period comparatives have been revised by $437 million to conform with current year presentation. The decrease in the net retirement benefit liability is mainly driven by an increase of the market yield on high-quality corporate bonds in the USA, the UK and Eurozone and positive returns on plan assets, partly offset by an increase in expected inflation in the UK and Eurozone. Amounts recognised in the balance sheet in relation to defined benefit plans include both plan assets and obligations that are presented on a net basis on a plan-by-plan basis. Income taxes payable $ million June 30, 2021 December 31, 2020 Income taxes payable 2,837 3,111 As from January 1, 2021 taxes payable not related to income tax are presented within 'Trade and other payables' (previously within 'Taxes payable') and 'Taxes payable' has been renamed into 'Income taxes payable'. Prior period comparatives have been revised by $2,895 million to conform with current year presentation. |
Climate case ruling
Climate case ruling | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure Of Commitments And Contingent Liabilities [Abstract] | |
Climate case ruling | Climate case rulingIn May 2021 the District Court in The Hague delivered its ruling in the climate change case filed against Royal Dutch Shell plc (“Shell”) by Milieudefensie (Friends of the Earth Netherlands), other NGOs and a group of private individuals. The court ruled that Shell must reduce the CO2 emissions of Shell group operations and energy-carrying products sold by 45% (net) by the end of 2030 compared to its emissions in 2019. Shell will appeal this decision in the Dutch Court of Appeal, which may take between two and three years. This case does not have a financial impact on the unaudited Interim Statements. |
Basis of preparation (Policies)
Basis of preparation (Policies) | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure Of Basis Of Preparation Of Financial Statements [Abstract] | |
Key accounting considerations, significant judgements and estimates | Key accounting considerations, significant judgements and estimates Future commodity price assumptions and management's view on the future development of refining margins represent a significant estimate and both were subject to change in 2020, resulting in the recognition of impairments in 2020. These assumptions continue to apply for impairment testing purposes in the second quarter 2021. |
Segment information (Tables)
Segment information (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Operating Segments [Abstract] | |
Summary of Information by Segment | INFORMATION BY SEGMENT Quarters $ million Half year Q2 2021 Q1 2021 Q2 2020 2021 2020 Third-party revenue 9,247 11,258 7,436 Integrated Gas 20,505 17,593 2,242 1,941 1,177 Upstream 4,183 3,521 44,570 38,382 21,596 Oil Products 82,952 65,893 4,444 4,070 2,283 Chemicals 8,514 5,504 12 14 12 Corporate 26 22 60,515 55,665 32,504 Total third-party revenue¹ 116,181 92,533 Inter-segment revenue 1,794 1,351 558 Integrated Gas 3,145 1,449 8,924 7,254 4,117 Upstream 16,178 10,592 3,017 2,457 1,082 Oil Products 5,473 2,933 1,633 1,187 475 Chemicals 2,820 1,350 — — — Corporate — — CCS earnings 422 2,527 (7,959) Integrated Gas 2,949 (6,147) 2,415 1,096 (6,721) Upstream 3,511 (7,584) 33 650 (3,023) Oil Products 682 (811) 462 689 164 Chemicals 1,152 311 (592) (531) (805) Corporate (1,124) (1,258) 2,741 4,430 (18,343) Total CCS earnings 7,171 (15,490) |
Summary of Reconciliation of CCS Earnings to Income | RECONCILIATION OF INCOME FOR THE PERIOD TO CCS EARNINGS Quarters $ million Half year Q2 2021 Q1 2021 Q2 2020 2021 2020 3,428 5,660 (18,131) Income/(loss) attributable to Royal Dutch Shell plc shareholders 9,087 (18,155) 131 124 30 Income/(loss) attributable to non-controlling interest 255 31 3,559 5,784 (18,101) Income/(loss) for the period 9,343 (18,124) Current cost of supplies adjustment: (994) (1,631) (432) Purchases (2,625) 3,342 208 353 98 Taxation 562 (819) (33) (76) 92 Share of profit/(loss) of joint ventures and associates (108) 111 (818) (1,354) (242) Current cost of supplies adjustment (2,172) 2,634 of which: (793) (1,314) (246) Attributable to Royal Dutch Shell plc shareholders (2,108) 2,535 (25) (39) 4 Attributable to non-controlling interest (64) 100 2,741 4,430 (18,343) CCS earnings 7,171 (15,490) of which: 2,634 4,345 (18,377) CCS earnings attributable to Royal Dutch Shell plc shareholders 6,980 (15,620) 106 85 34 CCS earnings attributable to non-controlling interest 191 131 |
Earnings per share (Tables)
Earnings per share (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Earnings per share [abstract] | |
Schedule of Earnings per Share | EARNINGS PER SHARE Quarters Half year Q2 2021 Q1 2021 Q2 2020 2021 2020 3,428 5,660 (18,131) Income/(loss) attributable to Royal Dutch Shell plc shareholders ($ million) 9,087 (18,155) Weighted average number of shares used as the basis for determining: 7,790.1 7,782.1 7,789.8 Basic earnings per share (million) 7,786.1 7,804.8 7,835.9 7,832.3 7,789.8 Diluted earnings per share (million) 7,834.2 7,804.8 |
Share capital (Tables)
Share capital (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Share Capital, Reserves And Other Equity Interest [Abstract] | |
Summary of Issued and Fully Paid Ordinary Shares | ISSUED AND FULLY PAID ORDINARY SHARES OF €0.07 EACH 1 Number of shares Nominal value ($ million) A B A B Total At January 1, 2021 4,101,239,499 3,706,183,836 345 306 651 At June 30, 2021 4,101,239,499 3,706,183,836 345 306 651 At January 1, 2020 4,151,787,517 3,729,407,107 349 308 657 Repurchases of shares (50,548,018) (23,223,271) (4) (2) (6) At June 30, 2020 4,101,239,499 3,706,183,836 345 306 651 |
Other reserves (Tables)
Other reserves (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Share Capital, Reserves And Other Equity Interest [Abstract] | |
Summary of Other Reserves Attributable to Royal Dutch Shell Plc Shareholders | OTHER RESERVES $ million Merger reserve Share premium reserve Capital redemption reserve Share plan reserve Accumulated other comprehensive income Total At January 1, 2021 37,298 154 129 906 (25,735) 12,752 Other comprehensive income/(loss) attributable to Royal Dutch Shell plc shareholders — — — — 6,033 6,033 Transfer from other comprehensive income — — — — (15) (15) Share-based compensation — — — (219) — (219) At June 30, 2021 37,298 154 129 687 (19,717) 18,552 At January 1, 2020 37,298 154 123 1,049 (24,173) 14,451 Other comprehensive income/(loss) attributable to Royal Dutch Shell plc shareholders — — — — (5,642) (5,642) Transfer from other comprehensive income — — — — 17 17 Repurchases of shares — — 6 — — 6 Share-based compensation — — — (324) — (324) At June 30, 2020 37,298 154 129 725 (29,798) 8,508 |
Derivative financial instrume_2
Derivative financial instruments and debt excluding lease liabilities (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Financial Instruments [Abstract] | |
Comparison of the Fair Value with the Carrying Amount of Debt Excluding Lease Liabilities | The table below provides the comparison of the fair value with the carrying amount of debt excluding lease liabilities, disclosed in accordance with IFRS 7 Financial Instruments: Disclosures. DEBT EXCLUDING LEASE LIABILITIES $ million June 30, 2021 December 31, 2020 Carrying amount 71,736 79,594 Fair value¹ 78,216 88,294 |
Other notes to the unaudited _2
Other notes to the unaudited Condensed Consolidated Interim Financial Statements (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Other notes to the unaudited Condensed Consolidated Interim Financial Statements [Abstract] | |
Interest and other income | Interest and other income Quarters $ million Half year Q2 2021 Q1 2021 Q2 2020 2021 2020 134 2,455 148 Interest and other income 2,590 224 of which: 95 134 158 Interest income 230 357 34 1 14 Dividend income (from investments in equity securities) 35 16 (55) 2,073 128 Net gains on sales and revaluation of non-current assets and businesses 2,018 21 4 85 (124) Net foreign exchange (losses)/gains on financing activities 90 (206) 56 161 (27) Other 217 36 |
Depreciation, depletion and amortisation | Depreciation, depletion and amortisation Quarters $ million Half year Q2 2021 Q1 2021 Q2 2020 2021 2020 8,223 5,896 28,089 Depreciation, depletion and amortisation 14,119 35,182 |
Taxation charge/(credit) | Taxation charge/(credit) Quarters $ million Half year Q2 2021 Q1 2021 Q2 2020 2021 2020 571 2,453 (5,806) Taxation charge/(credit) 3,024 (5,160) |
Retirement benefits | Retirement benefits $ million June 30, 2021 December 31, 2020 Non-current assets Retirement benefits 7,941 2,474 Non-current liabilities Retirement benefits¹ 12,435 15,605 Deficit 4,494 13,131 1. As from January 1, 2021 the 'Retirement benefits' liability has been classified under non-current liabilities (previously partly presented within current liabilities). Prior period comparatives have been revised by $437 million to conform with current year presentation. |
Income taxes payable | Income taxes payable $ million June 30, 2021 December 31, 2020 Income taxes payable 2,837 3,111 |
Segment information - Informati
Segment information - Information by Segment (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | ||
Disclosure of operating segments [line items] | ||||||
Revenue | [1] | $ 60,515 | $ 55,665 | $ 32,504 | $ 116,181 | $ 92,533 |
Other (losses) revenue | (340) | 1,211 | 1,405 | |||
Operating segments | ||||||
Disclosure of operating segments [line items] | ||||||
Revenue | 60,515 | 55,665 | 32,504 | 116,181 | 92,533 | |
Integrated Gas | Operating segments | ||||||
Disclosure of operating segments [line items] | ||||||
Revenue | 9,247 | 11,258 | 7,436 | 20,505 | 17,593 | |
Integrated Gas | Inter-segment | ||||||
Disclosure of operating segments [line items] | ||||||
Revenue | 1,794 | 1,351 | 558 | 3,145 | 1,449 | |
Upstream | Operating segments | ||||||
Disclosure of operating segments [line items] | ||||||
Revenue | 2,242 | 1,941 | 1,177 | 4,183 | 3,521 | |
Upstream | Inter-segment | ||||||
Disclosure of operating segments [line items] | ||||||
Revenue | 8,924 | 7,254 | 4,117 | 16,178 | 10,592 | |
Oil Products | Operating segments | ||||||
Disclosure of operating segments [line items] | ||||||
Revenue | 44,570 | 38,382 | 21,596 | 82,952 | 65,893 | |
Oil Products | Inter-segment | ||||||
Disclosure of operating segments [line items] | ||||||
Revenue | 3,017 | 2,457 | 1,082 | 5,473 | 2,933 | |
Chemicals | Operating segments | ||||||
Disclosure of operating segments [line items] | ||||||
Revenue | 4,444 | 4,070 | 2,283 | 8,514 | 5,504 | |
Chemicals | Inter-segment | ||||||
Disclosure of operating segments [line items] | ||||||
Revenue | 1,633 | 1,187 | 475 | 2,820 | 1,350 | |
Corporate | Operating segments | ||||||
Disclosure of operating segments [line items] | ||||||
Revenue | 12 | 14 | 12 | 26 | 22 | |
Corporate | Inter-segment | ||||||
Disclosure of operating segments [line items] | ||||||
Revenue | 0 | 0 | 0 | 0 | 0 | |
CCS Earnings | ||||||
Disclosure of operating segments [line items] | ||||||
CCS earnings | 2,741 | 4,430 | (18,343) | 7,171 | (15,490) | |
CCS Earnings | Integrated Gas | ||||||
Disclosure of operating segments [line items] | ||||||
CCS earnings | 422 | 2,527 | (7,959) | 2,949 | (6,147) | |
CCS Earnings | Upstream | ||||||
Disclosure of operating segments [line items] | ||||||
CCS earnings | 2,415 | 1,096 | (6,721) | 3,511 | (7,584) | |
CCS Earnings | Oil Products | ||||||
Disclosure of operating segments [line items] | ||||||
CCS earnings | 33 | 650 | (3,023) | 682 | (811) | |
CCS Earnings | Chemicals | ||||||
Disclosure of operating segments [line items] | ||||||
CCS earnings | 462 | 689 | 164 | 1,152 | 311 | |
CCS Earnings | Corporate | ||||||
Disclosure of operating segments [line items] | ||||||
CCS earnings | (592) | (531) | (805) | $ (1,124) | $ (1,258) | |
Sales contract | ||||||
Disclosure of operating segments [line items] | ||||||
Reversal of losses on purchase contracts | (374) | (385) | 686 | |||
Purchase contract | ||||||
Disclosure of operating segments [line items] | ||||||
Reversal of gains on sales contracts | $ (434) | $ (465) | $ 507 | |||
[1] | See Note 2 “Segment information”. |
Segment information - Summary o
Segment information - Summary of Reconciliation of Income to CCS Earnings (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | ||
Disclosure Of Reconciliation Of Ccs Earnings To Income [Line Items] | ||||||
Income/(loss) attributable to Royal Dutch Shell plc shareholders | $ 3,428 | $ 5,660 | $ (18,131) | $ 9,087 | $ (18,155) | |
Income/(loss) attributable to non-controlling interest | 131 | 124 | 30 | 255 | 31 | |
Income/(loss) for the period | [1] | 3,559 | 5,784 | (18,101) | 9,343 | (18,124) |
CCS Earnings | ||||||
Current cost of supplies adjustment: | ||||||
Purchases | (994) | (1,631) | (432) | (2,625) | 3,342 | |
Taxation | 208 | 353 | 98 | 562 | (819) | |
Share of profit/(loss) of joint ventures and associates | (33) | (76) | 92 | (108) | 111 | |
Current cost of supplies adjustment | (818) | (1,354) | (242) | (2,172) | 2,634 | |
of which: | ||||||
Attributable to Royal Dutch Shell plc shareholders | (793) | (1,314) | (246) | (2,108) | 2,535 | |
Attributable to non-controlling interest | (25) | (39) | 4 | (64) | 100 | |
CCS earnings | 2,741 | 4,430 | (18,343) | 7,171 | (15,490) | |
of which: | ||||||
CCS earnings attributable to Royal Dutch Shell plc shareholders | 2,634 | 4,345 | (18,377) | 6,980 | (15,620) | |
CCS earnings attributable to non-controlling interest | $ 106 | $ 85 | $ 34 | $ 191 | $ 131 | |
[1] | See Note 2 “Segment information”. |
Earnings per share - Schedule o
Earnings per share - Schedule of Earnings per Share (Details) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Earnings per share [abstract] | |||||
Income/(loss) attributable to Royal Dutch Shell plc shareholders | $ 3,428 | $ 5,660 | $ (18,131) | $ 9,087 | $ (18,155) |
Weighted average number of shares used as the basis for determining: | |||||
Basic earnings per share (in shares) | 7,790.1 | 7,782.1 | 7,789.8 | 7,786.1 | 7,804.8 |
Diluted earnings per share (in shares) | 7,835.9 | 7,832.3 | 7,789.8 | 7,834.2 | 7,804.8 |
Share capital - Summary of Issu
Share capital - Summary of Issued and Fully Paid Ordinary Shares (Details) $ in Millions | 6 Months Ended | ||||
Jun. 30, 2021USD ($)shares | Jun. 30, 2021£ / shares€ / sharesshares | Jun. 30, 2020USD ($)shares | Jun. 30, 2020€ / shares£ / sharesshares | ||
Disclosure of classes of share capital [line items] | |||||
Repurchases of shares | $ (1,214) | ||||
Share capital | |||||
Disclosure of classes of share capital [line items] | |||||
Beginning balance | $ 651 | 657 | |||
Repurchases of shares | [1] | (6) | |||
Ending balance | $ 651 | $ 651 | |||
Class A Shares | Share capital | |||||
Disclosure of classes of share capital [line items] | |||||
Par value per share (in eur per share) | € / shares | € 0.07 | € 0.07 | |||
Beginning balance (in shares) | shares | 4,101,239,499 | 4,151,787,517 | |||
Repurchases of shares (in shares) | shares | (50,548,018) | ||||
Ending balance (in shares) | shares | 4,101,239,499 | 4,101,239,499 | |||
Beginning balance | $ 345 | $ 349 | |||
Repurchases of shares | (4) | ||||
Ending balance | $ 345 | $ 345 | |||
Number of shares issued (in shares) | shares | 50,000 | ||||
Deferred shares (in gbp per share) | £ / shares | € 1 | ||||
Class B Shares | Share capital | |||||
Disclosure of classes of share capital [line items] | |||||
Beginning balance (in shares) | shares | 3,706,183,836 | 3,729,407,107 | |||
Repurchases of shares (in shares) | shares | (23,223,271) | ||||
Ending balance (in shares) | shares | 3,706,183,836 | 3,706,183,836 | |||
Beginning balance | $ 306 | $ 308 | |||
Repurchases of shares | (2) | ||||
Ending balance | $ 306 | $ 306 | |||
Number of shares issued (in shares) | shares | 50,000 | ||||
Deferred shares (in gbp per share) | £ / shares | € 1 | ||||
[1] | See Note 4 “Share capital”. |
Share capital - Narrative (Deta
Share capital - Narrative (Details) - Ordinary shares issue mandate € / shares in Units, € in Millions, shares in Millions | May 18, 2021EUR (€)€ / sharesshares |
Disclosure of classes of share capital [line items] | |
Common stock, value authorised | € | € 182.1 |
Common stock, shares authorised (in shares) | shares | 2,602 |
Par value per share (in eur per share) | € / shares | € 0.07 |
Other reserves - Summary of Oth
Other reserves - Summary of Other Reserves Attributable to Royal Dutch Shell Plc Shareholders (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | ||
Disclosure Of Accumulated Other Comprehensive Income Loss [Line Items] | ||||||
Other comprehensive income/(loss) attributable to Royal Dutch Shell plc shareholders | $ 5,467 | $ 9,653 | $ (21,490) | $ 15,121 | $ (23,797) | |
Repurchases of shares | (1,214) | |||||
Total | ||||||
Disclosure Of Accumulated Other Comprehensive Income Loss [Line Items] | ||||||
Beginning balance | 12,752 | 12,752 | 14,451 | |||
Other comprehensive income/(loss) attributable to Royal Dutch Shell plc shareholders | 6,033 | (5,642) | ||||
Transfer from other comprehensive income | (15) | 17 | ||||
Repurchases of shares | [1] | 6 | ||||
Share-based compensation | (219) | (324) | ||||
Ending balance | 18,552 | 8,508 | 18,552 | 8,508 | ||
Merger reserve | ||||||
Disclosure Of Accumulated Other Comprehensive Income Loss [Line Items] | ||||||
Beginning balance | 37,298 | 37,298 | 37,298 | |||
Other comprehensive income/(loss) attributable to Royal Dutch Shell plc shareholders | 0 | 0 | ||||
Transfer from other comprehensive income | 0 | |||||
Repurchases of shares | 0 | |||||
Share-based compensation | 0 | 0 | ||||
Ending balance | 37,298 | 37,298 | 37,298 | 37,298 | ||
Share premium reserve | ||||||
Disclosure Of Accumulated Other Comprehensive Income Loss [Line Items] | ||||||
Beginning balance | 154 | 154 | 154 | |||
Other comprehensive income/(loss) attributable to Royal Dutch Shell plc shareholders | 0 | 0 | ||||
Transfer from other comprehensive income | 0 | |||||
Repurchases of shares | 0 | |||||
Share-based compensation | 0 | 0 | ||||
Ending balance | 154 | 154 | 154 | 154 | ||
Capital redemption reserve | ||||||
Disclosure Of Accumulated Other Comprehensive Income Loss [Line Items] | ||||||
Beginning balance | 129 | 129 | 123 | |||
Other comprehensive income/(loss) attributable to Royal Dutch Shell plc shareholders | 0 | 0 | ||||
Transfer from other comprehensive income | 0 | |||||
Repurchases of shares | 6 | |||||
Share-based compensation | 0 | 0 | ||||
Ending balance | 129 | 129 | 129 | 129 | ||
Share plan reserve | ||||||
Disclosure Of Accumulated Other Comprehensive Income Loss [Line Items] | ||||||
Beginning balance | 906 | 906 | 1,049 | |||
Other comprehensive income/(loss) attributable to Royal Dutch Shell plc shareholders | 0 | 0 | ||||
Transfer from other comprehensive income | 0 | |||||
Repurchases of shares | 0 | |||||
Share-based compensation | (219) | (324) | ||||
Ending balance | 687 | 725 | 687 | 725 | ||
Accumulated other comprehensive income | ||||||
Disclosure Of Accumulated Other Comprehensive Income Loss [Line Items] | ||||||
Beginning balance | $ (25,735) | (25,735) | (24,173) | |||
Other comprehensive income/(loss) attributable to Royal Dutch Shell plc shareholders | 6,033 | (5,642) | ||||
Transfer from other comprehensive income | (15) | 17 | ||||
Repurchases of shares | 0 | |||||
Share-based compensation | 0 | 0 | ||||
Ending balance | $ (19,717) | $ (29,798) | $ (19,717) | $ (29,798) | ||
[1] | See Note 5 “Other reserves”. |
Derivative financial instrume_3
Derivative financial instruments and debt excluding lease liabilities - Comparison of the Fair Value with the Carrying Amount of Debt Excluding Lease Liabilities (Details) - USD ($) $ in Millions | Jun. 30, 2021 | Dec. 31, 2020 |
Financial Instruments [Abstract] | ||
Carrying amount | $ 71,736 | $ 79,594 |
Fair value | $ 78,216 | $ 88,294 |
Other notes to the unaudited _3
Other notes to the unaudited Condensed Consolidated Interim Financial Statements - Interest and Other Income (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Other notes to the unaudited Condensed Consolidated Interim Financial Statements [Abstract] | |||||
Interest and other income | $ 134 | $ 2,455 | $ 148 | $ 2,590 | $ 224 |
of which: | |||||
Interest income | 95 | 134 | 158 | 230 | 357 |
Dividend income (from investments in equity securities) | 34 | 1 | 14 | 35 | 16 |
Net gains on sales and revaluation of non-current assets and businesses | (55) | 2,073 | 128 | 2,018 | 21 |
Net foreign exchange (losses)/gains on financing activities | 4 | 85 | (124) | 90 | (206) |
Other | $ 56 | $ 161 | $ (27) | $ 217 | $ 36 |
Other notes to the unaudited _4
Other notes to the unaudited Condensed Consolidated Interim Financial Statements - Depreciation, depletion and amortisation (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | ||
Other notes to the unaudited Condensed Consolidated Interim Financial Statements [Abstract] | ||||||
Depreciation, depletion and amortisation | [1] | $ 8,223 | $ 5,896 | $ 28,089 | $ 14,119 | $ 35,182 |
[1] | See Note 7 “Other notes to the unaudited Condensed Consolidated Interim Financial Statements”. |
Other notes to the unaudited _5
Other notes to the unaudited Condensed Consolidated Interim Financial Statements - Taxation charge/(credit) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Other notes to the unaudited Condensed Consolidated Interim Financial Statements [Abstract] | |||||
Taxation charge/(credit) | $ 571 | $ 2,453 | $ (5,806) | $ 3,024 | $ (5,160) |
Other notes to the unaudited _6
Other notes to the unaudited Condensed Consolidated Interim Financial Statements - Narrative (Details) $ in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2021USD ($) | Mar. 31, 2021USD ($) | Jun. 30, 2020USD ($) | Jun. 30, 2021USD ($)numberOfSitesnumberOfRefineries | Jun. 30, 2020USD ($) | Dec. 31, 2020USD ($) | |
Disclosure of depreciation, depletion and amortisation [Line Items] | ||||||
Impairment loss | $ 84 | $ 21,780 | $ 2,333 | |||
Number of refineries | numberOfRefineries | 2 | |||||
Number of sites | numberOfSites | 1 | |||||
Tax provision | $ 571 | $ 2,453 | $ (5,806) | $ 3,024 | $ (5,160) | |
Revised retirement benefits | $ 437 | |||||
Revised income tax payable | $ 2,895 | |||||
NIGERIA | ||||||
Disclosure of depreciation, depletion and amortisation [Line Items] | ||||||
Tax provision | 628 | |||||
Oil Products | Non-current assets held for sale | ||||||
Disclosure of depreciation, depletion and amortisation [Line Items] | ||||||
Impairment loss | 1,207 | |||||
Chemicals | Non-current assets held for sale | ||||||
Disclosure of depreciation, depletion and amortisation [Line Items] | ||||||
Impairment loss | 177 | |||||
Integrated Gas | ||||||
Disclosure of depreciation, depletion and amortisation [Line Items] | ||||||
Impairment loss | $ 600 |
Other notes to the unaudited _7
Other notes to the unaudited Condensed Consolidated Interim Financial Statements - Retirement Benefits (Details) - USD ($) $ in Millions | Jun. 30, 2021 | Dec. 31, 2020 | |
Non-current assets | |||
Retirement benefits | [1] | $ 7,941 | $ 2,474 |
Non-current liabilities | |||
Retirement benefits | [1],[2] | 12,435 | 15,605 |
Deficit | $ (4,494) | $ (13,131) | |
[1] | See Note 7 "Other notes to the unaudited Condensed Consolidated Interim Financial Statements". | ||
[2] | As from January 1, 2021 the 'Retirement benefits' liability has been classified under non-current liabilities (previously partly presented within current liabilities) and taxes payable not related to income tax are presented within 'Trade and other payables' (previously 'Taxes payable'). Prior period comparatives have been revised to conform with current year presentation. See Note 7. |
Other notes to the unaudited _8
Other notes to the unaudited Condensed Consolidated Interim Financial Statements - Income Tax Payable (Details) - USD ($) $ in Millions | Jun. 30, 2021 | Dec. 31, 2020 | |
Other notes to the unaudited Condensed Consolidated Interim Financial Statements [Abstract] | |||
Income taxes payable | [1] | $ 2,837 | $ 3,111 |
[1] | As from January 1, 2021 the 'Retirement benefits' liability has been classified under non-current liabilities (previously partly presented within current liabilities) and taxes payable not related to income tax are presented within 'Trade and other payables' (previously 'Taxes payable'). Prior period comparatives have been revised to conform with current year presentation. See Note 7. |
Events after reporting period (
Events after reporting period (Details) | Dec. 31, 2030 |
Disclosure Of Commitments And Contingent Liabilities [Abstract] | |
Required reduction of CO@ emissions of Shell group operations and energy-carrying products sold, percent, by 2030 | 45.00% |