Shell (SHEL) 6-K 27 Jul 23 2023 Q2 Current report (foreign) Financial data

Cover Page

Cover Page	6 Months Ended
	Jun. 30, 2023
Cover [Abstract]
Document Type	6-K
Entity File Number	1-32575
Entity Registrant Name	Shell plc
Amendment Flag	false
Document Period End Date	Jun. 30, 2023
Document Fiscal Year Focus	2023
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, 2023	Mar. 31, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Profit or loss [abstract]
Revenue	[1]	$ 74,578	$ 86,959	$ 100,059	$ 161,538	$ 184,263
Share of profit/(loss) of joint ventures and associates		629	1,581	2,031	2,210	1,728
Interest and other income/(expenses)	[2]	813	481	993	1,294	257
Total revenue and other income/(expenses)		76,020	89,021	103,083	165,041	186,247
Purchases		51,492	57,502	66,658	108,994	122,315
Production and manufacturing expenses		6,041	6,008	6,359	12,049	12,389
Selling, distribution and administrative expenses		3,314	3,051	2,924	6,365	6,163
Research and development		297	253	264	550	452
Exploration		444	404	370	847	639
Depreciation, depletion and amortisation	[2]	7,872	6,285	(348)	14,157	5,947
Interest expense		1,211	1,165	695	2,375	1,406
Total expenditure		70,671	74,667	76,923	145,339	149,311
Income/(loss) before taxation		5,348	14,354	26,160	19,702	36,936
Taxation charge/(credit)		2,195	5,582	7,922	7,776	11,379
Income/(loss) for the period	[1]	3,154	8,772	18,238	11,926	25,557
Income/(loss) attributable to non-controlling interest		20	64	198	83	401
Income/(loss) attributable to Shell plc shareholders		$ 3,134	$ 8,709	$ 18,040	$ 11,843	$ 25,156
Basic earnings per share ($ per share)	[3]	$ 0.46	$ 1.26	$ 2.42	$ 1.73	$ 3.34
Diluted earnings per share ($ per share)	[3]	$ 0.46	$ 1.25	$ 2.40	$ 1.71	$ 3.31
[1]See Note 2 “Segment information”.[2] See Note 7 “Other notes to the unaudited Condensed Consolidated Interim Financial Statements”.

CONSOLIDATED STATEMENT OF COMPR

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - USD ($) $ in Millions		3 Months Ended			6 Months Ended
		Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of comprehensive income [abstract]
Income/(loss) for the period	[1]	$ 3,154	$ 8,772	$ 18,238	$ 11,926	$ 25,557
Items that may be reclassified to income in later periods:
– Currency translation differences		(267)	553	(2,644)	286	(2,385)
– Debt instruments remeasurements		(7)	18	(24)	12	(65)
– Cash flow hedging gains/(losses)		100	(180)	(98)	(80)	169
– Net investment hedging gains/(losses)		8	(52)	211	(44)	261
– Deferred cost of hedging		(53)	(2)	9	(55)	222
– Share of other comprehensive income/(loss) of joint ventures and associates		(10)	(35)	(22)	(46)	168
Total		(229)	302	(2,567)	73	(1,630)
Items that are not reclassified to income in later periods:
– Retirement benefits remeasurements		(24)	(32)	5,712	(55)	7,430
– Equity instruments remeasurements		16	8	(457)	23	(433)
– Share of other comprehensive income/(loss) of joint ventures and associates		(24)	(8)	36	(32)	(38)
Total		(32)	(33)	5,291	(65)	6,959
Other comprehensive income/(loss) for the period		(261)	269	2,724	8	5,330
Comprehensive income/(loss) for the period		2,893	9,041	20,962	11,934	30,887
Comprehensive income/(loss) attributable to non-controlling interest		(15)	84	327	68	545
Comprehensive income/(loss) attributable to Shell plc shareholders		$ 2,908	$ 8,958	$ 20,635	$ 11,866	$ 30,342
[1]See Note 2 “Segment information”.

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions		Jun. 30, 2023	Dec. 31, 2022
Non-current assets
Goodwill	[1]	$ 17,655	$ 16,039
Other intangible assets		8,642	9,662
Property, plant and equipment		197,177	198,642
Joint ventures and associates		24,434	23,864
Investments in securities		3,431	3,362
Deferred tax	[1]	6,238	7,815
Retirement benefits		10,398	10,200
Trade and other receivables		6,031	6,920
Derivative financial instruments	[2]	541	582
Non-current assets		274,547	277,086
Current assets
Inventories		26,975	31,894
Trade and other receivables		52,383	66,510
Derivative financial instruments	[2]	15,616	24,437
Cash and cash equivalents		45,094	40,246
Current assets other than non-current assets or disposal groups classified as held for sale or as held for distribution to owners		140,068	163,087
Assets classified as held for sale		417	2,851
Current assets		140,486	165,938
Total assets		415,033	443,024
Non-current liabilities
Debt		72,252	74,794
Trade and other payables		4,440	3,432
Derivative financial instruments	[2]	3,080	3,563
Deferred tax	[1]	15,955	16,186
Retirement benefits		7,491	7,296
Decommissioning and other provisions		23,592	23,845
Non-current liabilities		126,810	129,116
Current liabilities
Debt		12,114	9,001
Trade and other payables		63,996	79,357
Derivative financial instruments	[2]	12,513	23,779
Income taxes payable		4,462	4,869
Decommissioning and other provisions		3,037	2,910
Current liabilities other than liabilities included in disposal groups classified as held for sale		96,123	119,916
Liabilities directly associated with assets classified as held for sale		6	1,395
Current liabilities		96,129	121,311
Total liabilities		222,939	250,427
Equity attributable to Shell plc shareholders		190,461	190,472
Non-controlling interests		1,633	2,125
Total equity		192,094	192,597
Total liabilities and equity		$ 415,033	$ 443,024
[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”.

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, 2021		$ 175,326	$ 171,966	$ 641		$ (610)	$ 18,909		$ 153,026	$ 3,360
Comprehensive income/(loss) for the period		30,887	30,342				5,186		25,156	545
Transfer from other comprehensive income		0	0				13		(13)
Dividends	[3]	(3,790)	(3,680)						(3,680)	(110)
Repurchases of shares	[4]	(8,544)	(8,544)	(27)			27		(8,544)
Share-based compensation		465	465			427	(137)		175
Other changes		(47)	(49)						(49)	3
Ending balance at Jun. 30, 2022		194,299	190,500	614		(184)	23,998		166,072	3,799
Beginning balance at Dec. 31, 2022		192,597	190,472	584		(726)	21,132		169,482	2,125
Comprehensive income/(loss) for the period		11,934	11,866				24		11,842	68
Transfer from other comprehensive income		0	0				(121)		121
Dividends	[3]	(4,599)	(4,014)						(4,014)	(585)
Repurchases of shares	[4]	(8,054)	(8,054)	(22)			22		(8,054)
Share-based compensation		192	192			500	(203)		(105)
Other changes		25	1						1	24
Ending balance at Jun. 30, 2023		$ 192,094	$ 190,461	$ 562		$ (227)	$ 20,854		$ 169,272	$ 1,633
[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.[4]Includes shares committed to repurchase under an irrevocable contract and repurchases subject to settlement at the end of the quarter.

CONSOLIDATED STATEMENT OF CASH

CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Millions		3 Months Ended			6 Months Ended
		Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of cash flows [abstract]
Income before taxation for the period		$ 5,348	$ 14,354	$ 26,160	$ 19,702	$ 36,936
Adjustment for:
– Interest expense (net)		612	664	551	1,276	1,150
– Depreciation, depletion and amortisation	[1]	7,872	6,285	(348)	14,157	5,947
– Exploration well write-offs		204	236	189	440	268
– Net (gains)/losses on sale and revaluation of non-current assets and businesses		(53)	(45)	(334)	(98)	(527)
– Share of (profit)/loss of joint ventures and associates		(629)	(1,581)	(2,031)	(2,210)	(1,728)
– Dividends received from joint ventures and associates		884	896	1,245	1,780	2,171
– (Increase)/decrease in inventories		1,171	4,217	(6,833)	5,389	(11,747)
– (Increase)/decrease in current receivables		8,289	5,943	(4,066)	14,231	(14,071)
– Increase/(decrease) in current payables		(4,619)	(10,932)	6,656	(15,552)	14,150
– Derivative financial instruments		(907)	(2,336)	(1,779)	(3,244)	1,716
– Retirement benefits		14	15	123	30	370
– Decommissioning and other provisions		(236)	(84)	571	(320)	562
– Other	[1]	954	(330)	1,706	624	3,582
Tax paid		(3,773)	(3,144)	(3,155)	(6,917)	(5,310)
Cash flow from operating activities		15,130	14,159	18,655	29,289	33,470
Capital expenditure		(4,614)	(6,161)	(6,677)	(10,774)	(10,914)
Investments in joint ventures and associates		(436)	(307)	(264)	(743)	(1,019)
Investments in equity securities		(80)	(33)	(83)	(114)	(156)
Proceeds from sale of property, plant and equipment and businesses		362	1,479	783	1,841	1,340
Proceeds from joint ventures and associates from sale, capital reduction and repayment of long-term loans		100	257	51	357	190
Proceeds from sale of equity securities		18	2	4	20	16
Interest received		522	448	160	970	252
Other investing cash inflows		1,908	700	293	2,607	1,046
Other investing cash outflows		(794)	(623)	(474)	(1,417)	(1,236)
Cash flow from investing activities		(3,015)	(4,238)	(6,207)	(7,253)	(10,481)
Net increase/(decrease) in debt with maturity period within three months		(186)	(86)	640	(272)	772
Other debt:
– New borrowings		362	415	35	777	135
– Repayments		(1,774)	(1,453)	(2,531)	(3,228)	(5,072)
Interest paid		(1,158)	(869)	(1,090)	(2,027)	(1,747)
Derivative financial instruments		(152)	200	(828)	48	(1,311)
Change in non-controlling interest		2	(30)	2	(27)	5
Cash dividends paid to:
– Shell plc shareholders		(1,983)	(2,029)	(1,851)	(4,013)	(3,802)
– Non-controlling interest		(575)	(10)	(63)	(585)	(110)
Repurchases of shares		(3,624)	(4,291)	(5,541)	(7,915)	(9,013)
Shares held in trust: net sales/(purchases) and dividends received		86	(232)	78	(146)	(25)
Cash flow from financing activities		(9,003)	(8,385)	(11,150)	(17,388)	(20,168)
Effects of exchange rate changes on cash and cash equivalents		(93)	293	(688)	199	(822)
Increase/(decrease) in cash and cash equivalents		3,020	1,829	609	4,848	1,999
Cash and cash equivalents at beginning of period		42,074	40,246	38,360	40,246	36,970
Cash and cash equivalents at end of period		$ 45,094	$ 42,074	$ 38,970	$ 45,094	$ 38,970
[1]See Note 7 “Other notes to the unaudited Condensed Consolidated Interim Financial Statements”.

Basis of preparation

Basis of preparation	6 Months Ended
	Jun. 30, 2023
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 Shell plc (“the Company”) and its subsidiaries (collectively referred to as “Shell”) have been prepared in accordance with International Accounting Standard 34 Interim Financial Reporting as issued by the International Accounting Standards Board ("IASB") and adopted by the UK, and on the basis of the same accounting principles as those used in the Company's Annual Report and Accounts (pages 237 to 307) for the year ended December 31, 2022 as filed with the Registrar of Companies for England and Wales and the Autoriteit Financiële Markten (the Netherlands) and Form 20-F (pages 216 to 287) for the year ended December 31, 2022 as filed with the US Securities and Exchange Commission, and should be read in conjunction with these filings. The financial information presented in the unaudited Condensed Consolidated Interim Financial 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, 2022 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. On consolidation, assets and liabilities of non-dollar entities are translated to dollars at period-end rates of exchange, while their statements of income, other comprehensive income and cash flows are translated at average rates. Until the end of 2022 this translation was performed at quarterly average rates. As from January 1, 2023 this translation is performed at monthly average rates. This change had no significant impact on Shell's financial reporting. New standards adopted in 2023 IFRS 17 Insurance contracts (IFRS 17) as issued in 2017, with amendments published in 2020 and 2021, was adopted as from January 1, 2023. The adoption of IFRS 17 had no significant effect on Shell's financial reporting. Deferred Tax related to Assets and Liabilities arising from a Single Transaction (Amendments to IAS 12 Income taxes (IAS 12)), published in May 2021, was adopted as from January 1, 2023. The adoption of these amendments had no significant effect on Shell's financial reporting. International Tax Reform — Pillar Two Model Rules (Amendments to IAS 12) as issued on May 23, 2023, was adopted as from that date. The amendments to IAS 12 introduce a temporary mandatory relief from accounting for deferred tax that arises from legislation implementing OECD Pillar Two. On June 20, 2023, the United Kingdom substantively enacted Pillar Two. As required by the amendments to IAS 12, Shell has applied the exception to recognising and disclosing information about deferred tax assets and liabilities related to Pillar Two income taxes. Going concern These unaudited Condensed Consolidated Interim Financial 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, 2024 (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, potential downside pressures on commodity prices and long-term demand, and cash preservation measures, including reduced capital expenditure and shareholder distributions. 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 Condensed Consolidated Interim Financial Statements. Key accounting considerations, significant judgements and estimates Future long-term commodity price assumptions and management’s view on the future development of refining margins represent a significant estimate. Future long-term commodity price assumptions were subject to change in the second quarter 2023 (see Note 7).

Segment information

Segment information	6 Months Ended
	Jun. 30, 2023
Operating Segments [Abstract]
Segment information	Segment informationSegment 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 2023 Q1 2023 Q2 2022 2023 2022 Third-party revenue 7,938 10,932 12,403 Integrated Gas 18,869 26,477 1,533 2,062 2,253 Upstream 3,595 3,784 26,573 26,280 34,121 Marketing 52,853 60,257 28,656 32,056 39,793 Chemicals and Products 60,712 73,213 9,866 15,619 11,477 Renewables and Energy Solutions 25,485 20,503 12 12 12 Corporate 24 28 74,578 86,959 100,059 Total third-party revenue 1 161,538 184,263 Inter-segment revenue 2,940 3,534 4,176 Integrated Gas 6,474 7,708 8,859 11,146 13,951 Upstream 20,005 25,892 123 163 153 Marketing 286 254 508 565 718 Chemicals and Products 1,073 1,385 771 1,475 1,522 Renewables and Energy Solutions 2,246 2,764 — — — Corporate — — CCS earnings 754 2,410 8,103 Integrated Gas 3,164 11,183 1,586 2,779 6,391 Upstream 4,365 9,486 970 1,137 836 Marketing 2,107 1,000 349 1,799 2,131 Chemicals and Products 2,148 3,203 530 2,200 (173) Renewables and Energy Solutions 2,729 (1,709) (701) (1,064) (529) Corporate (1,765) (1,264) 3,488 9,262 16,759 Total CCS earnings 12,749 21,899 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 2023 included income of $4,247 million (first quarter 2023: $4,809 million income; second quarter 2022: $3,477 million income). This amount includes both the reversal of prior gains of $27 million (first quarter 2023: $1,369 million gains; second quarter 2022: $2,094 million losses) related to sales contracts and prior losses of $88 million (first quarter 2023: $772 million losses; second quarter 2022: $1,982 million gains) related to purchase contracts that were previously recognised and where physical settlement took place in the second quarter 2023. RECONCILIATION OF INCOME FOR THE PERIOD TO CCS EARNINGS Quarters $ million Half year Q2 2023 Q1 2023 Q2 2022 2023 2022 3,134 8,709 18,040 Income/(loss) attributable to Shell plc shareholders 11,843 25,156 20 64 198 Income/(loss) attributable to non-controlling interest 83 401 3,154 8,772 18,238 Income/(loss) for the period 11,926 25,557 Current cost of supplies adjustment: 383 647 (1,929) Purchases 1,030 (4,723) (96) (171) 496 Taxation (267) 1,178 47 13 (46) Share of profit/(loss) of joint ventures and associates 60 (114) 334 489 (1,479) Current cost of supplies adjustment 823 (3,659) Of which: 326 481 (1,363) Attributable to Shell plc shareholders 807 (3,453) 8 8 (116) Attributable to non-controlling interest 16 (205) 3,488 9,262 16,759 CCS earnings 12,749 21,899 Of which: 3,460 9,190 16,677 CCS earnings attributable to Shell plc shareholders 12,650 21,703 27 72 82 CCS earnings attributable to non-controlling interest 99 196

Earnings per share

Earnings per share	6 Months Ended
	Jun. 30, 2023
Earnings per share [abstract]
Earnings per Share	Earnings per share EARNINGS PER SHARE Quarters Half year Q2 2023 Q1 2023 Q2 2022 2023 2022 3,134 8,709 18,040 Income/(loss) attributable to Shell plc shareholders ($ million) 11,843 25,156 Weighted average number of shares used as the basis for determining: 6,793.4 6,918.9 7,453.2 Basic earnings per share (million) 6,855.8 7,527.7 6,854.2 6,982.1 7,518.5 Diluted earnings per share (million) 6,917.8 7,589.6

Share capital

Share capital	6 Months Ended
	Jun. 30, 2023
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 Ordinary shares A B Ordinary shares Total At January 1, 2023 7,003,503,393 584 584 Repurchases of shares (268,292,487) (22) (22) At June 30, 2023 6,735,210,906 562 562 At January 1, 2022 4,101,239,499 3,582,892,954 345 296 641 Repurchases of shares before assimilation — (34,106,548) — (3) (3) Assimilation of ordinary A and B shares into ordinary shares on January 29, 2022 (4,101,239,499) (3,548,786,406) 7,650,025,905 (345) (293) 638 — Repurchases of B shares on January 27 and 28, 2022, cancelled as ordinary shares on February 2 and 3, 2022 (507,742) — — Repurchases of shares after assimilation (294,476,534) (25) (25) At June 30, 2022 7,355,041,629 614 614 1. Share capital at December 31, 2022, also included 50,000 issued and fully paid sterling deferred shares of £1 each, which were redeemed on March 27, 2023. Upon redemption, the sterling deferred shares were treated as cancelled and the Company's issued share capital was reduced by the nominal value of the shares redeemed in accordance with section 688 of the UK Companies Act 2006. On January 29, 2022, as part of the simplification announced on December 20, 2021, the Company's A shares and B shares assimilated into a single line of ordinary shares. This is reflected in the above table.

Other reserves

Other reserves	6 Months Ended
	Jun. 30, 2023
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, 2023 37,298 154 196 1,140 (17,656) 21,132 Other comprehensive income/(loss) attributable to Shell plc shareholders — — — — 24 24 Transfer from other comprehensive income — — — — (121) (121) Repurchases of shares — — 22 — — 22 Share-based compensation — — — (203) — (203) At June 30, 2023 37,298 154 220 936 (17,752) 20,854 At January 1, 2022 37,298 154 139 964 (19,646) 18,909 Other comprehensive income/(loss) attributable to Shell plc shareholders — — — — 5,186 5,186 Transfer from other comprehensive income — — — — 13 13 Repurchases of shares — — 27 — — 27 Share-based compensation — — — (137) — (137) At June 30, 2022 37,298 154 168 827 (14,447) 23,998

Derivative financial instrument

Derivative financial instruments and debt excluding lease liabilities	6 Months Ended
	Jun. 30, 2023
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, 2022, 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, 2023, are consistent with those used in the year ended December 31, 2022, though the carrying amounts of derivative financial instruments measured using predominantly unobservable inputs have changed since that date. The movement of the derivative financial instruments between December 31, 2022 and June 30, 2023 is for the current assets a decrease of $8,821 million and for the current liabilities a decrease of $11,266 million. 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, 2023 December 31, 2022 Carrying amount 56,779 56,152 Fair value¹ 52,829 51,959 1 .

Other notes to the unaudited Co

Other notes to the unaudited Condensed Consolidated Interim Financial Statements	6 Months Ended
	Jun. 30, 2023
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 2023 Q1 2023 Q2 2022 2023 2022 813 481 993 Interest and other income/(expenses) 1,294 257 Of which: 599 500 144 Interest income 1,100 255 29 — 198 Dividend income (from investments in equity securities) 29 199 65 45 334 Net gains on sales and revaluation of non-current assets and businesses 110 527 7 (236) 166 Net foreign exchange gains/(losses) on financing activities (229) 182 113 171 151 Other 284 (907) Depreciation, depletion and amortisation Quarters $ million Half year Q2 2023 Q1 2023 Q2 2022 2023 2022 7,872 6,285 (348) Depreciation, depletion and amortisation 14,157 5,947 Of which: 5,708 5,697 5,608 Depreciation 11,404 10,997 2,490 589 153 Impairments 3,079 1,059 (326) — (6,109) Impairment reversals (326) (6,109) The impairments in the second quarter 2023 were mainly triggered by a change in the discount rate applied. Impairments recognised in the second quarter 2023 of $2,490 million pre-tax ($1,910 million post-tax) relate to an asset in Integrated Gas located in North America and various smaller impairments across segments. Impairments recognised in the first quarter 2023 of $589 million pre-tax ($453 million post-tax) mainly relate to an asset in Integrated Gas valued at fair value. In the second quarter 2023, gains resulting from reversals of impairments recognised previously were recognised of $326 million pre-tax (second quarter 2022: $6,169 million pre-tax of which $6,109 million in depreciation, depletion and amortisation). The reversal in the second quarter 2023 relates to an Integrated Gas asset following reassessment of fair value (second quarter 2022: mainly triggered by revision of Shell's mid- and long-term commodity price assumptions). For impairment testing purposes and potential reversal of impairments recognised previously, the respective carrying amounts of property, plant and equipment and intangible assets were compared with the higher of the fair value less cost to sell and their value in use. Cash flow projections used in the determination of value in use were made using management’s forecasts of commodity prices, market supply and demand, operational and capital expenditures, potential costs associated with operational GHG emissions and expected production volumes. The discount rate applied was subject to change in the second quarter 2023, triggered by increasing risk free rates. The discount rate applied is based on a nominal post-tax weighted average cost of capital (WACC) of 7.5% (2022: 6.5%) except for the Renewables and Energy Solutions segment where a nominal post-tax WACC of 6.0% (2022: 5.0%) is applied. Oil and gas price assumptions applied for impairment testing in Integrated Gas and Upstream are reviewed and, where necessary, adjusted on a periodic basis. Reviews include comparison with available market data and forecasts that reflect developments in demand such as global economic growth, technology efficiency, and policy measures. Factors impacting supply include consideration of investment and resource potential, cost of development of new supply, and behaviour of major resource holders. The near-term commodity price assumptions applied in the relevant impairment testing in the second quarter 2023 were as follows: Commodity price assumptions [A] 2024 2025 2026 2027 Brent crude oil ($/b) 70 70 70 74 Henry Hub natural gas ($/MMBtu) 4.00 4.00 4.00 4.21 [A] Money of the day. For periods after 2027, the real-term price assumptions applied were $70 per barrel (/b) for Brent crude oil and $4.00 per million British thermal units (/MMBtu) for Henry Hub natural gas. Condensed Consolidated Balance Sheet Goodwill $ million June 30, 2023 December 31, 2022 Goodwill 17,655 16,039 Goodwill as at June 30, 2023, includes $1,464 million goodwill recognised in the first quarter 2023, related to the acquisition of Nature Energy Biogas A/S. The accounting is provisional and is expected to be completed in 2023. Deferred tax $ million June 30, 2023 December 31, 2022 Non-current assets Deferred tax 6,238 7,815 Non-current liabilities Deferred tax 15,955 16,186 Net deferred liability (9,717) (8,371) The presentation in the balance sheet takes into consideration the offsetting of deferred tax assets and deferred tax liabilities within the same tax jurisdiction, where this is permitted. The overall deferred tax position in a particular tax jurisdiction determines if a deferred tax balance related to that jurisdiction is presented within deferred tax assets or deferred tax liabilities. Shell's net deferred tax position was a liability of $9,717 million at June 30, 2023 (December 31, 2022: $8,371 million). The net increase in the net deferred tax liability is mainly driven by a reduction of the deferred tax asset due to the utilisation of deferred tax. Assets classified as held for sale $ million June 30, 2023 December 31, 2022 Assets classified as held for sale 417 2,851 Liabilities directly associated with assets classified as held for sale 6 1,395 The major class of assets classified as held for sale at June 30, 2023, is Property, plant and equipment ($337 million; December 31, 2022: $2,526 million). Non-controlling interest $ million June 30, 2023 December 31, 2022 Non-controlling interest 1,633 2,125 The change in non-controlling interest is mainly driven by dividend payments to non-controlling shareholders during the second quarter 2023. Consolidated Statement of Cash Flows Cash flow from operating activities - Other Quarters $ million Half year Q2 2023 Q1 2023 Q2 2022 2023 2022 954 (330) 1,706 Other 624 3,582 Cash flow from operating activities - Other for the second quarter 2023 includes $764 million of net inflows (first quarter 2023: $69 million net outflows; second quarter 2022: $685 million net inflows) due to the timing of payments relating to emissions and biofuel programmes in Europe and North America. Other investing cash inflows Quarters $ million Half year Q2 2023 Q1 2023 Q2 2022 2023 2022 1,908 700 293 Other investing cash inflows 2,607 1,046 Other investing cash inflows in the second quarter 2023 mainly relate to repayments of sh ort-term debt securities and short-term loans.

Post-Balance Sheet Events

Post-Balance Sheet Events	6 Months Ended
	Jun. 30, 2023
Disclosure of non-adjusting events after reporting period [abstract]
Post-balance sheet events	Post-balance sheet events On July 25, 2023, Shell announced the agreement to sell its participating interest in Indonesia’s Masela Production Sharing Contract (“Masela PSC”) to Indonesia’s PT Pertamina Hulu Energi and PETRONAS Masela Sdn. Bhd. The sale concerns Shell's participating interest of 35% in the Masela PSC, which includes the Abadi gas project. The base consideration for the sale is $325 million in cash with an additional contingent amount of $325 million to be paid when the final investment decision is taken on the Abadi gas project. The transaction has an effective date of January 1, 2023 and is targeted to be completed in the third quarter 2023, subject to completion of conditions, which include among others, regulatory approval to be obtained from the Indonesia’s Ministry of Energy and Mineral Resources .

Basis of preparation (Policies)

Basis of preparation (Policies)	6 Months Ended
	Jun. 30, 2023
Disclosure Of Basis Of Preparation Of Financial Statements [Abstract]
Key accounting considerations, significant judgements and estimates	Key accounting considerations, significant judgements and estimates Future long-term commodity price assumptions and management’s view on the future development of refining margins represent a significant estimate. Future long-term commodity price assumptions were subject to change in the second quarter 2023 (see Note 7).

Segment information (Tables)

Segment information (Tables)	6 Months Ended
	Jun. 30, 2023
Operating Segments [Abstract]
Summary of Information by Segment	INFORMATION BY SEGMENT Quarters $ million Half year Q2 2023 Q1 2023 Q2 2022 2023 2022 Third-party revenue 7,938 10,932 12,403 Integrated Gas 18,869 26,477 1,533 2,062 2,253 Upstream 3,595 3,784 26,573 26,280 34,121 Marketing 52,853 60,257 28,656 32,056 39,793 Chemicals and Products 60,712 73,213 9,866 15,619 11,477 Renewables and Energy Solutions 25,485 20,503 12 12 12 Corporate 24 28 74,578 86,959 100,059 Total third-party revenue 1 161,538 184,263 Inter-segment revenue 2,940 3,534 4,176 Integrated Gas 6,474 7,708 8,859 11,146 13,951 Upstream 20,005 25,892 123 163 153 Marketing 286 254 508 565 718 Chemicals and Products 1,073 1,385 771 1,475 1,522 Renewables and Energy Solutions 2,246 2,764 — — — Corporate — — CCS earnings 754 2,410 8,103 Integrated Gas 3,164 11,183 1,586 2,779 6,391 Upstream 4,365 9,486 970 1,137 836 Marketing 2,107 1,000 349 1,799 2,131 Chemicals and Products 2,148 3,203 530 2,200 (173) Renewables and Energy Solutions 2,729 (1,709) (701) (1,064) (529) Corporate (1,765) (1,264) 3,488 9,262 16,759 Total CCS earnings 12,749 21,899
Summary of Reconciliation of CCS Earnings to Income	RECONCILIATION OF INCOME FOR THE PERIOD TO CCS EARNINGS Quarters $ million Half year Q2 2023 Q1 2023 Q2 2022 2023 2022 3,134 8,709 18,040 Income/(loss) attributable to Shell plc shareholders 11,843 25,156 20 64 198 Income/(loss) attributable to non-controlling interest 83 401 3,154 8,772 18,238 Income/(loss) for the period 11,926 25,557 Current cost of supplies adjustment: 383 647 (1,929) Purchases 1,030 (4,723) (96) (171) 496 Taxation (267) 1,178 47 13 (46) Share of profit/(loss) of joint ventures and associates 60 (114) 334 489 (1,479) Current cost of supplies adjustment 823 (3,659) Of which: 326 481 (1,363) Attributable to Shell plc shareholders 807 (3,453) 8 8 (116) Attributable to non-controlling interest 16 (205) 3,488 9,262 16,759 CCS earnings 12,749 21,899 Of which: 3,460 9,190 16,677 CCS earnings attributable to Shell plc shareholders 12,650 21,703 27 72 82 CCS earnings attributable to non-controlling interest 99 196

Earnings per share (Tables)

Earnings per share (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings per share [abstract]
Schedule of Earnings per Share	EARNINGS PER SHARE Quarters Half year Q2 2023 Q1 2023 Q2 2022 2023 2022 3,134 8,709 18,040 Income/(loss) attributable to Shell plc shareholders ($ million) 11,843 25,156 Weighted average number of shares used as the basis for determining: 6,793.4 6,918.9 7,453.2 Basic earnings per share (million) 6,855.8 7,527.7 6,854.2 6,982.1 7,518.5 Diluted earnings per share (million) 6,917.8 7,589.6

Share capital (Tables)

Share capital (Tables)	6 Months Ended
	Jun. 30, 2023
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 Ordinary shares A B Ordinary shares Total At January 1, 2023 7,003,503,393 584 584 Repurchases of shares (268,292,487) (22) (22) At June 30, 2023 6,735,210,906 562 562 At January 1, 2022 4,101,239,499 3,582,892,954 345 296 641 Repurchases of shares before assimilation — (34,106,548) — (3) (3) Assimilation of ordinary A and B shares into ordinary shares on January 29, 2022 (4,101,239,499) (3,548,786,406) 7,650,025,905 (345) (293) 638 — Repurchases of B shares on January 27 and 28, 2022, cancelled as ordinary shares on February 2 and 3, 2022 (507,742) — — Repurchases of shares after assimilation (294,476,534) (25) (25) At June 30, 2022 7,355,041,629 614 614 1. Share capital at December 31, 2022, also included 50,000 issued and fully paid sterling deferred shares of £1 each, which were redeemed on March 27, 2023. Upon redemption, the sterling deferred shares were treated as cancelled and the

Other reserves (Tables)

Other reserves (Tables)	6 Months Ended
	Jun. 30, 2023
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, 2023 37,298 154 196 1,140 (17,656) 21,132 Other comprehensive income/(loss) attributable to Shell plc shareholders — — — — 24 24 Transfer from other comprehensive income — — — — (121) (121) Repurchases of shares — — 22 — — 22 Share-based compensation — — — (203) — (203) At June 30, 2023 37,298 154 220 936 (17,752) 20,854 At January 1, 2022 37,298 154 139 964 (19,646) 18,909 Other comprehensive income/(loss) attributable to Shell plc shareholders — — — — 5,186 5,186 Transfer from other comprehensive income — — — — 13 13 Repurchases of shares — — 27 — — 27 Share-based compensation — — — (137) — (137) At June 30, 2022 37,298 154 168 827 (14,447) 23,998

Derivative financial instrume_2

Derivative financial instruments and debt excluding lease liabilities (Tables)	6 Months Ended
	Jun. 30, 2023
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, 2023 December 31, 2022 Carrying amount 56,779 56,152 Fair value¹ 52,829 51,959 1 .

Other notes to the unaudited _2

Other notes to the unaudited Condensed Consolidated Interim Financial Statements (Tables)	6 Months Ended
	Jun. 30, 2023
Other notes to the unaudited Condensed Consolidated Interim Financial Statements [Abstract]
Interest and other income	Interest and other income Quarters $ million Half year Q2 2023 Q1 2023 Q2 2022 2023 2022 813 481 993 Interest and other income/(expenses) 1,294 257 Of which: 599 500 144 Interest income 1,100 255 29 — 198 Dividend income (from investments in equity securities) 29 199 65 45 334 Net gains on sales and revaluation of non-current assets and businesses 110 527 7 (236) 166 Net foreign exchange gains/(losses) on financing activities (229) 182 113 171 151 Other 284 (907)
Disclosure of impairment loss and reversal of impairment loss	Quarters $ million Half year Q2 2023 Q1 2023 Q2 2022 2023 2022 7,872 6,285 (348) Depreciation, depletion and amortisation 14,157 5,947 Of which: 5,708 5,697 5,608 Depreciation 11,404 10,997 2,490 589 153 Impairments 3,079 1,059 (326) — (6,109) Impairment reversals (326) (6,109)
Commodity price assumptions applied in impairment testing	The near-term commodity price assumptions applied in the relevant impairment testing in the second quarter 2023 were as follows: Commodity price assumptions [A] 2024 2025 2026 2027 Brent crude oil ($/b) 70 70 70 74 Henry Hub natural gas ($/MMBtu) 4.00 4.00 4.00 4.21 [A] Money of the day.
Disclosure of goodwill	Goodwill $ million June 30, 2023 December 31, 2022 Goodwill 17,655 16,039
Deferred tax	Deferred tax $ million June 30, 2023 December 31, 2022 Non-current assets Deferred tax 6,238 7,815 Non-current liabilities Deferred tax 15,955 16,186 Net deferred liability (9,717) (8,371)
Assets classified as held for sale	Assets classified as held for sale $ million June 30, 2023 December 31, 2022 Assets classified as held for sale 417 2,851 Liabilities directly associated with assets classified as held for sale 6 1,395
Non controlling interest	Non-controlling interest $ million June 30, 2023 December 31, 2022 Non-controlling interest 1,633 2,125
Cash flows from operating activities - Other	Cash flow from operating activities - Other Quarters $ million Half year Q2 2023 Q1 2023 Q2 2022 2023 2022 954 (330) 1,706 Other 624 3,582
Cash flows from investing activities - Other	Other investing cash inflows Quarters $ million Half year Q2 2023 Q1 2023 Q2 2022 2023 2022 1,908 700 293 Other investing cash inflows 2,607 1,046

Segment information - Informati

Segment information - Information by Segment (Details) - USD ($) $ in Millions		3 Months Ended			6 Months Ended
		Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disclosure of operating segments [line items]
Third-party revenue	[1]	$ 74,578	$ 86,959	$ 100,059	$ 161,538	$ 184,263
Gains on change in fair value of derivatives		4,247	4,809	3,477
Operating segments
Disclosure of operating segments [line items]
Third-party revenue		74,578	86,959	100,059	161,538	184,263
Integrated Gas | Operating segments
Disclosure of operating segments [line items]
Third-party revenue		7,938	10,932	12,403	18,869	26,477
Integrated Gas | Inter-segment
Disclosure of operating segments [line items]
Third-party revenue		2,940	3,534	4,176	6,474	7,708
Upstream | Operating segments
Disclosure of operating segments [line items]
Third-party revenue		1,533	2,062	2,253	3,595	3,784
Upstream | Inter-segment
Disclosure of operating segments [line items]
Third-party revenue		8,859	11,146	13,951	20,005	25,892
Marketing | Operating segments
Disclosure of operating segments [line items]
Third-party revenue		26,573	26,280	34,121	52,853	60,257
Marketing | Inter-segment
Disclosure of operating segments [line items]
Third-party revenue		123	163	153	286	254
Chemicals and Products | Operating segments
Disclosure of operating segments [line items]
Third-party revenue		28,656	32,056	39,793	60,712	73,213
Chemicals and Products | Inter-segment
Disclosure of operating segments [line items]
Third-party revenue		508	565	718	1,073	1,385
Renewables and Energy Solutions | Operating segments
Disclosure of operating segments [line items]
Third-party revenue		9,866	15,619	11,477	25,485	20,503
Renewables and Energy Solutions | Inter-segment
Disclosure of operating segments [line items]
Third-party revenue		771	1,475	1,522	2,246	2,764
Corporate | Operating segments
Disclosure of operating segments [line items]
Third-party revenue		12	12	12	24	28
Corporate | Inter-segment
Disclosure of operating segments [line items]
Third-party revenue		0	0	0	0	0
CCS earnings
Disclosure of operating segments [line items]
CCS earnings		3,488	9,262	16,759	12,749	21,899
CCS earnings | Integrated Gas
Disclosure of operating segments [line items]
CCS earnings		754	2,410	8,103	3,164	11,183
CCS earnings | Upstream
Disclosure of operating segments [line items]
CCS earnings		1,586	2,779	6,391	4,365	9,486
CCS earnings | Marketing
Disclosure of operating segments [line items]
CCS earnings		970	1,137	836	2,107	1,000
CCS earnings | Chemicals and Products
Disclosure of operating segments [line items]
CCS earnings		349	1,799	2,131	2,148	3,203
CCS earnings | Renewables and Energy Solutions
Disclosure of operating segments [line items]
CCS earnings		530	2,200	(173)	2,729	(1,709)
CCS earnings | Corporate
Disclosure of operating segments [line items]
CCS earnings		(701)	(1,064)	(529)	$ (1,765)	$ (1,264)
Sales contract
Disclosure of operating segments [line items]
Reversal of (gains) losses on purchase contracts		27	1,369	2,094
Purchase contract
Disclosure of operating segments [line items]
Reversal of gains (losses) on sales contracts		$ (88)	$ (772)	$ 1,982
[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, 2023	Mar. 31, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disclosure Of Reconciliation Of Ccs Earnings To Income [Line Items]
Income/(loss) attributable to Shell plc shareholders		$ 3,134	$ 8,709	$ 18,040	$ 11,843	$ 25,156
Income/(loss) attributable to non-controlling interest		20	64	198	83	401
Income/(loss) for the period	[1]	3,154	8,772	18,238	11,926	25,557
CCS earnings
Current cost of supplies adjustment:
Purchases		383	647	(1,929)	1,030	(4,723)
Taxation		(96)	(171)	496	(267)	1,178
Share of profit/(loss) of joint ventures and associates		47	13	(46)	60	(114)
Current cost of supplies adjustment		334	489	(1,479)	823	(3,659)
Of which:
Attributable to Shell plc shareholders		326	481	(1,363)	807	(3,453)
Attributable to non-controlling interest		8	8	(116)	16	(205)
CCS earnings		3,488	9,262	16,759	12,749	21,899
of which:
CCS earnings attributable to Shell plc shareholders		3,460	9,190	16,677	12,650	21,703
CCS earnings attributable to non-controlling interest		$ 27	$ 72	$ 82	$ 99	$ 196
[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, 2023	Mar. 31, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings per share [abstract]
Income/(loss) attributable to Shell plc shareholders	$ 3,134	$ 8,709	$ 18,040	$ 11,843	$ 25,156
Weighted average number of shares used as the basis for determining:
Basic earnings per share (in shares)	6,793.4	6,918.9	7,453.2	6,855.8	7,527.7
Diluted earnings per share (in shares)	6,854.2	6,982.1	7,518.5	6,917.8	7,589.6

Share capital - Summary of Issu

Share capital - Summary of Issued and Fully Paid Ordinary Shares (Details) $ in Millions				1 Months Ended	5 Months Ended	6 Months Ended				12 Months Ended
		Feb. 03, 2022 USD ($) shares	Jan. 29, 2022 USD ($) shares	Jan. 26, 2022 USD ($) shares	Jun. 30, 2022 USD ($) shares	Jun. 30, 2023 USD ($) shares		Jun. 30, 2022 USD ($) shares		Dec. 31, 2022 USD ($) shares	Dec. 31, 2022 £ / shares shares	Jun. 30, 2023 € / shares	Jun. 30, 2022 € / shares
Disclosure of classes of share capital [line items]
Repurchases of shares	[1]					$ (8,054)		$ (8,544)
Share capital
Disclosure of classes of share capital [line items]
Beginning balance (in shares) | shares						7,003,503,393
Beginning balance				$ 641		$ 584		641		$ 641
Repurchases of shares (in shares) | shares		507,742			294,476,534	(268,292,487)
Repurchases of shares		$ 0		$ (3)	$ (25)	$ (22)	[1],[2]	$ (27)	[1],[2]
Assimilation of ordinary A and B shares into ordinary shares (in shares) | shares			7,650,025,905
Assimilation of ordinary A and B shares into ordinary shares on January 29, 2022			$ 0
Ending balance (in shares) | shares					7,355,041,629	6,735,210,906		7,355,041,629		7,003,503,393
Ending balance					$ 614	$ 562		$ 614		$ 584
Share capital | Ordinary shares [member]
Disclosure of classes of share capital [line items]
Repurchases of shares		$ 0			(25)
Assimilation of ordinary A and B shares into ordinary shares on January 29, 2022			$ 638
Ending balance					$ 614			$ 614
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				4,101,239,499		4,101,239,499
Beginning balance				$ 345				$ 345		$ 345
Repurchases of shares (in shares) | shares				0
Repurchases of shares				$ 0
Assimilation of ordinary A and B shares into ordinary shares (in shares) | shares			(4,101,239,499)
Assimilation of ordinary A and B shares into ordinary shares on January 29, 2022			$ (345)
Number of shares issued (in shares) | shares										50,000	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				3,582,892,954				3,582,892,954		3,582,892,954
Beginning balance				$ 296				$ 296		$ 296
Repurchases of shares (in shares) | shares				34,106,548
Repurchases of shares				$ (3)
Assimilation of ordinary A and B shares into ordinary shares (in shares) | shares			(3,548,786,406)
Assimilation of ordinary A and B shares into ordinary shares on January 29, 2022			$ (293)
[1]Includes shares committed to repurchase under an irrevocable contract and repurchases subject to settlement at the end of the quarter.[2]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 23, 2022 EUR (€) € / shares shares
Disclosure of classes of share capital [line items]
Common stock, value authorised | €	€ 161
Common stock, shares authorised (in shares) | shares	2,307
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, 2023	Mar. 31, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disclosure Of Accumulated Other Comprehensive Income Loss [Line Items]
Other comprehensive income/(loss) attributable to Shell plc shareholders		$ 2,908	$ 8,958	$ 20,635	$ 11,866	$ 30,342
Repurchases of shares	[1]				(8,054)	(8,544)
Total
Disclosure Of Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance			21,132		21,132	18,909
Other comprehensive income/(loss) attributable to Shell plc shareholders					24	5,186
Transfer from other comprehensive income					(121)	13
Repurchases of shares	[1],[2]				22	27
Share-based compensation					(203)	(137)
Ending balance		20,854		23,998	20,854	23,998
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 Shell plc shareholders					0	0
Transfer from other comprehensive income					0	0
Repurchases of shares					0	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 Shell plc shareholders					0	0
Transfer from other comprehensive income					0	0
Repurchases of shares					0	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			196		196	139
Other comprehensive income/(loss) attributable to Shell plc shareholders					0	0
Transfer from other comprehensive income					0	0
Repurchases of shares					22	27
Share-based compensation					0	0
Ending balance		220		168	220	168
Share plan reserve
Disclosure Of Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance			1,140		1,140	964
Other comprehensive income/(loss) attributable to Shell plc shareholders					0	0
Transfer from other comprehensive income					0	0
Repurchases of shares					0	0
Share-based compensation					(203)	(137)
Ending balance		936		827	936	827
Accumulated other comprehensive income
Disclosure Of Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance			$ (17,656)		(17,656)	(19,646)
Other comprehensive income/(loss) attributable to Shell plc shareholders					24	5,186
Transfer from other comprehensive income					(121)	13
Repurchases of shares					0	0
Share-based compensation					0	0
Ending balance		$ (17,752)		$ (14,447)	$ (17,752)	$ (14,447)
[1]Includes shares committed to repurchase under an irrevocable contract and repurchases subject to settlement at the end of the quarter.[2]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, 2023	Jun. 30, 2022
Financial Instruments [Abstract]
Carrying amount	$ 56,779	$ 56,152
Fair value	$ 52,829	$ 51,959

Derivative financial instrume_4

Derivative financial instruments and debt excluding lease liabilities - Narrative (Details) $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)
Derivatives
Disclosure of detailed information about financial instruments [line items]
Decrease in financial liabilities	$ 11,266
Derivatives
Disclosure of detailed information about financial instruments [line items]
Decrease in financial assets	$ 8,821

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, 2023	Mar. 31, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Other notes to the unaudited Condensed Consolidated Interim Financial Statements [Abstract]
Interest and other income/(expenses)	[1]	$ 813	$ 481	$ 993	$ 1,294	$ 257
Of which:
Interest income		599	500	144	1,100	255
Dividend income (from investments in equity securities)		29	0	198	29	199
Net gains on sales and revaluation of non-current assets and businesses		65	45	334	110	527
Net foreign exchange gains/(losses) on financing activities		7	(236)	166	(229)	182
Other		$ 113	$ 171	$ 151	$ 284	$ (907)
[1] See Note 7 “Other notes to the unaudited Condensed Consolidated Interim Financial Statements”.

Other notes to the unaudited _4

Other notes to the unaudited Condensed Consolidated Interim Financial Statements - Depreciation and impairment (Details) - USD ($) $ in Millions		3 Months Ended			6 Months Ended
		Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Impairment Of Assets [Abstract]
Depreciation, depletion and amortisation	[1]	$ 7,872	$ 6,285	$ (348)	$ 14,157	$ 5,947
Depreciation		5,708	5,697	5,608	11,404	10,997
Impairments		2,490	589	153	3,079	1,059
Impairment reversals		$ (326)	$ 0	$ (6,109)	$ (326)	$ (6,109)
[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 - Income statement narrative (Details) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2023 USD ($) $ / MMBTU $ / bbl	Mar. 31, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2022
Disclosure of depreciation, depletion and amortisation [Line Items]
Impairment loss	$ 2,490	$ 589
Impairment loss, after tax	1,910	453
Reversal of impairment loss	326		$ 6,169
Reversals of impairments, pre tax	$ 326	$ 0	$ 6,109	$ 326	$ 6,109
Brent crude oil ($/b)
Disclosure of depreciation, depletion and amortisation [Line Items]
Commodity price, after 2026 | $ / bbl	70
Henry Hub natural gas ($/MMBtu)
Disclosure of depreciation, depletion and amortisation [Line Items]
Commodity price, after 2026 | $ / MMBTU	4
Renewables and Energy Solutions
Disclosure of depreciation, depletion and amortisation [Line Items]
Nominal post-tax WACC	7.50%			7.50%		6.50%
All segments, excl renewables and energy
Disclosure of depreciation, depletion and amortisation [Line Items]
Nominal post-tax WACC	6%			6%		5%

Other notes to the unaudited _6

Other notes to the unaudited Condensed Consolidated Interim Financial Statements - Commodity Price Assumptions Applied in Impairment Testing (Details)	3 Months Ended
	Jun. 30, 2023 $ / MMBTU $ / bbl
Brent crude oil ($/b)
Explanation Of Inputs Assumptions And Estimation Techniques Used To Apply Impairment Requirements Explanatory [Line Items]
2023 | $ / bbl	70
2024 | $ / bbl	70
2025 | $ / bbl	70
2026 | $ / bbl	74
Henry Hub natural gas ($/MMBtu)
Explanation Of Inputs Assumptions And Estimation Techniques Used To Apply Impairment Requirements Explanatory [Line Items]
2023 | $ / MMBTU	4
2024 | $ / MMBTU	4
2025 | $ / MMBTU	4
2026 | $ / MMBTU	4.21

Other notes to the unaudited _7

Other notes to the unaudited Condensed Consolidated Interim Financial Statements - Goodwill & Deferred tax (Details) - USD ($) $ in Millions		Jun. 30, 2023		Mar. 31, 2023	Dec. 31, 2022
Other notes to the unaudited Condensed Consolidated Interim Financial Statements [Abstract]
Goodwill		$ 17,655	[1]	$ 1,464	$ 16,039	[1]
Deferred tax assets	[1]	6,238			7,815
Deferred tax liabilities	[1]	15,955			16,186
Net deferred liability		$ (9,717)		$ (9,717)	$ (8,371)
[1]See Note 7 “Other notes to the unaudited Condensed Consolidated Interim Financial Statements”.

Other notes to the unaudited _8

Other notes to the unaudited Condensed Consolidated Interim Financial Statements - Balance Sheet/Cash Flow Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2023		Mar. 31, 2023	Jun. 30, 2022	Dec. 31, 2022
Disclosure of depreciation, depletion and amortisation [Line Items]
Goodwill	$ 17,655	[1]	$ 1,464		$ 16,039	[1]
Net deferred tax liabilities	9,717		9,717		8,371
Property, plant and equipment	197,177				198,642
Decrease (increase) in emissions instruments	764		$ 69	$ 685
Assets and liabilities classified as held for sale
Disclosure of depreciation, depletion and amortisation [Line Items]
Property, plant and equipment	$ 337				$ 2,526
[1]See Note 7 “Other notes to the unaudited Condensed Consolidated Interim Financial Statements”.

Other notes to the unaudited _9

Other notes to the unaudited Condensed Consolidated Interim Financial Statements - Assets held for sale & NCI (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Other notes to the unaudited Condensed Consolidated Interim Financial Statements [Abstract]
Assets classified as held for sale	$ 417	$ 2,851
Liabilities directly associated with assets classified as held for sale	6	1,395
Non-controlling interests	$ 1,633	$ 2,125

Other notes to the unaudited_10

Other notes to the unaudited Condensed Consolidated Interim Financial Statements - Other cash flows (Details) - USD ($) $ in Millions		3 Months Ended			6 Months Ended
		Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Other notes to the unaudited Condensed Consolidated Interim Financial Statements [Abstract]
Other	[1]	$ 954	$ (330)	$ 1,706	$ 624	$ 3,582
Other investing cash inflows		$ 1,908	$ 700	$ 293	$ 2,607	$ 1,046
[1]See Note 7 “Other notes to the unaudited Condensed Consolidated Interim Financial Statements”.

Post-Balance Sheet Events (Deta

Post-Balance Sheet Events (Details) - Disposals of associate - Masela Production sharing contract $ in Millions	Jul. 25, 2023 USD ($)
Disclosure of non-adjusting events after reporting period [line items]
Proportion of ownership interest in associate	35%
Forecast
Disclosure of non-adjusting events after reporting period [line items]
Consideration receivable	$ 325
Contingent consideration receivable	$ 325