Document and Entity Information
Document and Entity Information | 6 Months Ended |
Jun. 30, 2021 | |
Document and Entity Information | |
Entity Registrant Name | TotalEnergies SE |
Entity Central Index Key | 0000879764 |
Document Type | 6-K |
Document Period End Date | Jun. 30, 2021 |
Amendment Flag | false |
Current Fiscal Year End Date | --12-31 |
Document Fiscal Year Focus | 2021 |
Document Fiscal Period Focus | Q2 |
CONSOLIDATED STATEMENT OF INCOM
CONSOLIDATED STATEMENT OF INCOME $ in Millions | 3 Months Ended | 6 Months Ended | |||||||
Jun. 30, 2021USD ($)$ / shares | Jun. 30, 2021€ / shares | Mar. 31, 2021USD ($)$ / shares | Mar. 31, 2021€ / shares | Jun. 30, 2020USD ($)$ / shares | Jun. 30, 2020€ / shares | Jun. 30, 2021USD ($)$ / shares | Dec. 31, 2020USD ($) | Jun. 30, 2020USD ($)$ / shares | |
CONSOLIDATED STATEMENT OF INCOME | |||||||||
Sales | $ 47,049 | $ 43,737 | $ 25,730 | $ 90,786 | $ 69,600 | ||||
Excise taxes | (5,416) | (5,104) | (4,168) | (10,520) | (9,461) | ||||
Revenues from sales | 41,633 | 38,633 | 21,562 | 80,266 | 60,139 | ||||
Purchases, net of inventory variation | (26,719) | (23,398) | (12,025) | (50,117) | (40,093) | ||||
Other operating expenses | (6,717) | (6,880) | (6,321) | (13,597) | (13,265) | ||||
Exploration costs | (123) | (167) | (114) | (290) | (254) | ||||
Depreciation, depletion and impairment of tangible assets and mineral interests | (3,121) | (3,325) | (11,593) | (6,446) | (15,228) | ||||
Other income | 223 | 358 | 362 | 581 | 942 | ||||
Other expense | (298) | (659) | (108) | (957) | (528) | ||||
Financial interest on debt | (501) | (466) | (530) | (967) | (1,099) | ||||
Financial income and expense from cash & cash equivalents | 77 | 95 | 50 | 172 | (105) | ||||
Cost of net debt | (424) | (371) | (480) | (795) | (1,204) | ||||
Other financial income | 265 | 109 | 419 | 374 | 607 | ||||
Other financial expense | (131) | (130) | (161) | (261) | (342) | ||||
Net income (loss) from equity affiliates | (680) | 881 | (447) | 201 | 285 | ||||
Income taxes | (1,609) | (1,639) | 484 | (3,248) | 521 | ||||
Consolidated net income | 2,299 | 3,412 | (8,422) | 5,711 | $ 1,084 | (8,420) | |||
TotalEnergies share | 2,206 | 3,344 | (8,369) | 5,550 | (8,335) | ||||
Non-controlling interests | $ 93 | $ 68 | $ (53) | $ 161 | $ (85) | ||||
Earnings per share (in dollars or Euros per share) | (per share) | $ 0.80 | € 0.66 | $ 1.24 | € 1.03 | $ (3.27) | € (2.98) | $ 2.04 | $ (3.29) | |
Fully-diluted earnings per share (in dollars or Euros per share) | (per share) | $ 0.80 | € 0.66 | $ 1.23 | € 1.02 | $ (3.27) | € (2.98) | $ 2.03 | $ (3.29) |
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 | |
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME | |||||
Consolidated net income | $ 2,299 | $ 3,412 | $ (8,422) | $ 5,711 | $ (8,420) |
Other comprehensive income | |||||
Actuarial gains and losses | 449 | (356) | 449 | (223) | |
Change in fair value of investments in equity instruments | 56 | 12 | 90 | 68 | (74) |
Tax effect | (142) | (12) | 101 | (154) | 86 |
Currency translation adjustment generated by the parent company | 1,239 | (4,173) | 1,780 | (2,934) | (196) |
Items not potentially reclassifiable to profit and loss | 1,602 | (4,173) | 1,615 | (2,571) | (407) |
Currency translation adjustment | (746) | 2,523 | (919) | 1,777 | (940) |
Cash flow hedge | (424) | 504 | 231 | 80 | (1,293) |
Variation of foreign currency basis spread | (4) | 14 | (4) | 70 | |
Share of other comprehensive income of equity affiliates, net amount | (18) | 469 | 296 | 451 | (927) |
Other | (1) | 1 | 3 | ||
Tax effect | 100 | (157) | (78) | (57) | 367 |
Items potentially reclassifiable to profit and loss | (1,093) | 3,340 | (456) | 2,247 | (2,720) |
Total other comprehensive income (net amount) | 509 | (833) | 1,159 | (324) | (3,127) |
Comprehensive income | 2,808 | 2,579 | (7,263) | 5,387 | (11,547) |
TotalEnergies share | 2,670 | 2,542 | (7,253) | 5,212 | (11,424) |
Non-controlling interests | $ 138 | $ 37 | $ (10) | $ 175 | $ (123) |
CONSOLIDATED BALANCE SHEET
CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | Jun. 30, 2020 |
Non-current assets | ||||
Intangible assets, net | $ 33,359 | $ 33,239 | $ 33,528 | $ 33,114 |
Property, plant and equipment, net | 106,791 | 106,859 | 108,335 | 104,925 |
Equity affiliates: investments and loans | 29,712 | 30,727 | 27,976 | 27,470 |
Other investments | 2,247 | 2,062 | 2,007 | 1,627 |
Non-current financial assets | 3,778 | 3,700 | 4,781 | 2,431 |
Deferred income taxes | 6,578 | 6,619 | 7,016 | 7,257 |
Other non-current assets | 2,800 | 2,638 | 2,810 | 2,539 |
Total non-current assets | 185,265 | 185,844 | 186,453 | 179,363 |
Current assets | ||||
Inventories, net | 19,162 | 16,192 | 14,730 | 12,688 |
Accounts receivable, net | 17,192 | 17,532 | 14,068 | 13,481 |
Other current assets | 17,585 | 14,304 | 13,428 | 17,155 |
Current financial assets | 4,404 | 4,605 | 4,630 | 6,570 |
Cash and cash equivalents | 28,643 | 30,285 | 31,268 | 29,727 |
Assets classified as held for sale | 456 | 396 | 1,555 | 421 |
Total current assets | 87,442 | 83,314 | 79,679 | 80,042 |
Total assets | 272,707 | 269,158 | 266,132 | 259,405 |
Shareholders' equity | ||||
Common shares | 8,224 | 8,193 | 8,267 | 8,159 |
Paid-in surplus and retained earnings | 110,967 | 112,676 | 107,078 | 107,934 |
Currency translation adjustment | (11,087) | (11,566) | (10,256) | (13,265) |
Treasury shares | (8) | (8) | (1,387) | (1,623) |
Total shareholders' equity - TotalEnergies share | 108,096 | 109,295 | 103,702 | 101,205 |
Non-controlling interests | 2,480 | 2,390 | 2,383 | 2,334 |
Total shareholders' equity | 110,576 | 111,685 | 106,085 | 103,539 |
Non-current liabilities | ||||
Deferred income taxes | 10,596 | 10,387 | 10,326 | 10,346 |
Employee benefits | 3,305 | 3,644 | 3,917 | 3,612 |
Provisions and other non-current liabilities | 20,716 | 20,893 | 20,925 | 19,487 |
Non-current financial debt | 52,331 | 52,541 | 60,203 | 61,540 |
Total non-current liabilities | 86,948 | 87,465 | 95,371 | 94,985 |
Current liabilities | ||||
Accounts payable | 29,752 | 26,959 | 23,574 | 19,198 |
Other creditors and accrued liabilities | 27,836 | 22,066 | 22,465 | 24,790 |
Current borrowings | 16,983 | 20,471 | 17,099 | 16,154 |
Other current financial liabilities | 322 | 351 | 203 | 411 |
Liabilities directly associated with the assets classified as held for sale | 290 | 161 | 1,335 | 328 |
Total current liabilities | 75,183 | 70,008 | 64,676 | 60,881 |
Total liabilities & shareholders' equity | $ 272,707 | $ 269,158 | $ 266,132 | $ 259,405 |
CONSOLIDATED STATEMENT OF CASH
CONSOLIDATED STATEMENT OF CASH FLOW - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
CASH FLOW FROM OPERATING ACTIVITIES | |||||
Consolidated net income | $ 2,299 | $ 3,412 | $ (8,422) | $ 5,711 | $ (8,420) |
Depreciation, depletion, amortization and impairment | 3,287 | 3,473 | 11,701 | 6,760 | 15,431 |
Non-current liabilities, valuation allowances and deferred taxes | 210 | 121 | (796) | 331 | (1,457) |
(Gains) losses on disposals of assets | (85) | (285) | (131) | (370) | (340) |
Undistributed affiliates' equity earnings | 1,255 | (573) | 978 | 682 | 391 |
(Increase) decrease in working capital | 669 | (819) | 431 | (150) | (453) |
Other changes, net | (84) | 269 | (282) | 185 | (374) |
Cash flow from operating activities | 7,551 | 5,598 | 3,479 | 13,149 | 4,778 |
CASH FLOW USED IN INVESTING ACTIVITIES | |||||
Intangible assets and property, plant and equipment additions | (2,675) | (2,410) | (2,409) | (5,085) | (4,773) |
Acquisitions of subsidiaries, net of cash acquired | (170) | (170) | (188) | ||
Investments in equity affiliates and other securities | (307) | (2,126) | (136) | (2,433) | (1,670) |
Increase in non-current loans | (380) | (300) | (733) | (680) | (1,028) |
Total expenditures | (3,532) | (4,836) | (3,278) | (8,368) | (7,659) |
Proceeds from disposals of intangible assets and property, plant and equipment | 45 | 226 | 219 | 271 | 263 |
Proceeds from disposals of subsidiaries, net of cash sold | 229 | 12 | 229 | 154 | |
Proceeds from disposals of non-current investments | 216 | 63 | 20 | 279 | 315 |
Repayment of non-current loans | 167 | 134 | 99 | 301 | 225 |
Total divestments | 428 | 652 | 350 | 1,080 | 957 |
Cash flow used in investing activities | (3,104) | (4,184) | (2,928) | (7,288) | (6,702) |
CASH FLOW FROM FINANCING ACTIVITIES | |||||
Issuance (repayment) of shares: Parent company shareholders | 381 | 374 | 381 | 374 | |
Issuance (repayment) of shares: Treasury shares | (165) | (2) | (165) | (611) | |
Dividends paid: Parent company shareholders | (2,094) | (2,090) | (1,928) | (4,184) | (3,810) |
Dividends paid: Non-controlling interests | (53) | (10) | (76) | (63) | (76) |
Net issuance (repayment) of perpetual subordinated notes | 3,248 | 3,248 | |||
Payments on perpetual subordinated notes | (147) | (87) | (134) | (234) | (231) |
Other transactions with non-controlling interests | (55) | (22) | (55) | (70) | |
Net issuance (repayment) of non-current debt | 51 | (890) | 15,430 | (839) | 15,472 |
Increase (decrease) in current borrowings | (4,369) | (1,662) | (6,604) | (6,031) | (3,819) |
Increase (decrease) in current financial assets and liabilities | (67) | (148) | 449 | (215) | (2,546) |
Cash flow from (used in) financing activities | (6,298) | (1,859) | 7,487 | (8,157) | 4,683 |
Net increase (decrease) in cash and cash equivalents | (1,851) | (445) | 8,038 | (2,296) | 2,759 |
Effect of exchange rates | 209 | (538) | 55 | (329) | (384) |
Cash and cash equivalents at the beginning of the period | 30,285 | 31,268 | 21,634 | 31,268 | 27,352 |
Cash and cash equivalents at the end of the period | $ 28,643 | $ 30,285 | $ 29,727 | $ 28,643 | $ 29,727 |
CONSOLIDATED STATEMENT OF CHANG
CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Millions | Shareholders' equity - TotalEnergies share | Common shares issued | Paid-in surplus and retained earnings | Currency translation adjustment | Treasury shares | Non-controlling interests | Total | |
Equity as of the beginning of the period at Dec. 31, 2019 | $ 116,778 | $ 8,123 | $ 121,170 | $ (11,503) | $ (1,012) | $ 2,527 | $ 119,305 | |
Common shares issued as of the beginning of the period at Dec. 31, 2019 | 2,601,881,075 | (15,474,234) | ||||||
Consolidated net income | (8,335) | (8,335) | (85) | (8,420) | ||||
Other comprehensive income | (3,089) | (1,327) | (1,762) | (38) | (3,127) | |||
Comprehensive income | (11,424) | (9,662) | (1,762) | (123) | (11,547) | |||
Dividend | (3,799) | (3,799) | (76) | (3,875) | ||||
Issuance of common shares | 374 | $ 36 | 338 | 374 | ||||
Issuance of common shares (in shares) | 13,179,262 | |||||||
Purchase of treasury shares | (611) | $ (611) | (611) | |||||
Purchase of treasury shares (in shares) | (13,236,044) | |||||||
Sale of treasury shares (in shares) | [1] | 3,680 | ||||||
Share-based payments | 96 | 96 | 96 | |||||
Payments on perpetual subordinated notes | (143) | (143) | (143) | |||||
Other operations with non-controlling interests | (63) | (63) | (7) | (70) | ||||
Other items | (3) | (3) | 13 | 10 | ||||
Equity as of the end of the period at Jun. 30, 2020 | 101,205 | $ 8,159 | 107,934 | (13,265) | $ (1,623) | 2,334 | 103,539 | |
Common shares issued as of the end of the period at Jun. 30, 2020 | 2,615,060,337 | (28,706,598) | ||||||
Consolidated net income | 1,093 | 1,093 | (9) | 1,084 | ||||
Other comprehensive income | 4,019 | 1,006 | 3,013 | 338 | 4,357 | |||
Comprehensive income | 5,112 | 2,099 | 3,013 | 329 | 5,441 | |||
Dividend | (4,100) | (4,100) | (158) | (4,258) | ||||
Issuance of common shares | 1,240 | $ 108 | 1,132 | 1,240 | ||||
Issuance of common shares (in shares) | 38,063,688 | |||||||
Sale of treasury shares | [1] | (236) | $ 236 | |||||
Sale of treasury shares (in shares) | [1] | 4,313,895 | ||||||
Share-based payments | 92 | 92 | 92 | |||||
Net issuance (repayment) of perpetual subordinated notes | 331 | 331 | 331 | |||||
Payments on perpetual subordinated notes | (165) | (165) | (165) | |||||
Other operations with non-controlling interests | (2) | 2 | (4) | (110) | (112) | |||
Other items | (11) | (11) | (12) | (23) | ||||
Equity as of the end of the period at Dec. 31, 2020 | 103,702 | $ 8,267 | 107,078 | (10,256) | $ (1,387) | 2,383 | 106,085 | |
Common shares issued as of the end of the period at Dec. 31, 2020 | 2,653,124,025 | (24,392,703) | ||||||
Consolidated net income | 3,412 | |||||||
Other comprehensive income | (833) | |||||||
Comprehensive income | 2,579 | |||||||
Equity as of the end of the period at Mar. 31, 2021 | 111,685 | |||||||
Equity as of the beginning of the period at Dec. 31, 2020 | 103,702 | $ 8,267 | 107,078 | (10,256) | $ (1,387) | 2,383 | 106,085 | |
Common shares issued as of the beginning of the period at Dec. 31, 2020 | 2,653,124,025 | (24,392,703) | ||||||
Consolidated net income | 5,550 | 5,550 | 161 | 5,711 | ||||
Other comprehensive income | (338) | 485 | (823) | 14 | (324) | |||
Comprehensive income | 5,212 | 6,035 | (823) | 175 | 5,387 | |||
Dividend | (4,189) | (4,189) | (63) | (4,252) | ||||
Issuance of common shares | 381 | $ 31 | 350 | 381 | ||||
Issuance of common shares (in shares) | 10,589,713 | |||||||
Purchase of treasury shares | (165) | $ (165) | (165) | |||||
Purchase of treasury shares (in shares) | (3,636,351) | |||||||
Sale of treasury shares | [1] | (216) | $ 216 | |||||
Sale of treasury shares (in shares) | [1] | 4,570,220 | ||||||
Share-based payments | 61 | 61 | 61 | |||||
Share cancellation | $ (74) | (1,254) | $ 1,328 | |||||
Share cancellation (in shares) | (23,284,409) | 23,284,409 | ||||||
Net issuance (repayment) of perpetual subordinated notes | 3,254 | 3,254 | 3,254 | |||||
Payments on perpetual subordinated notes | (184) | (184) | (184) | |||||
Other operations with non-controlling interests | 20 | 26 | (6) | (20) | ||||
Other items | 4 | 6 | (2) | 5 | 9 | |||
Equity as of the end of the period at Jun. 30, 2021 | 108,096 | $ 8,224 | 110,967 | (11,087) | $ (8) | 2,480 | 110,576 | |
Common shares issued as of the end of the period at Jun. 30, 2021 | 2,640,429,329 | (174,425) | ||||||
Equity as of the beginning of the period at Mar. 31, 2021 | 111,685 | |||||||
Consolidated net income | 2,299 | |||||||
Other comprehensive income | 509 | |||||||
Comprehensive income | 2,808 | |||||||
Equity as of the end of the period at Jun. 30, 2021 | $ 108,096 | $ 8,224 | $ 110,967 | $ (11,087) | $ (8) | $ 2,480 | $ 110,576 | |
Common shares issued as of the end of the period at Jun. 30, 2021 | 2,640,429,329 | (174,425) | ||||||
[1] | Treasury shares related to the performance share grants. |
Accounting policies
Accounting policies | 6 Months Ended |
Jun. 30, 2021 | |
Accounting policies | |
Accounting policies | 1) Accounting policies The consolidated financial statements are prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union and IFRS as published by the International Accounting Standards Board (IASB). The interim consolidated financial statements of TotalEnergies SE and its subsidiaries (the Company) as of June 30, 2021, are presented in U.S. dollars and have been prepared in accordance with International Accounting Standard (IAS) 34 “Interim Financial Reporting”. The accounting principles applied for the consolidated financial statements at June 30, 2021, are consistent with those used for the financial statements at December 31, 2020. Since January 1, 2020, the Company has early adopted the amendments to IFRS 7 and IFRS 9 relating to the interest rate benchmark reform phase II. In particular, these amendments allow to maintain the hedge accounting qualification of interest rate derivatives. The preparation of financial statements in accordance with IFRS for the closing as of June 30, 2021 requires the executive management to make estimates, assumptions and judgments that affect the information reported in the Consolidated Financial Statements and the Notes thereto. These estimates, assumptions and judgments are based on historical experience and other factors believed to be reasonable at the date of preparation of the financial statements. They are reviewed on an on-going basis by management and therefore could be revised as circumstances change or as a result of new information. The main estimates, judgments and assumptions relate to the estimation of hydrocarbon reserves in application of the successful efforts method for the oil and gas activities, asset impairments, employee benefits, asset retirement obligations and income taxes. These estimates and assumptions are described in the Notes to the Consolidated Financial Statements as of December 31, 2020. Different estimates, assumptions and judgments could significantly affect the information reported, and actual results may differ from the amounts included in the Consolidated Financial Statements and the Notes thereto. Furthermore, when the accounting treatment of a specific transaction is not addressed by any accounting standard or interpretation, the management of the Company applies its judgment to define and apply accounting policies that provide information consistent with the general IFRS concepts: faithful representation, relevance and materiality. |
Changes in the Company structur
Changes in the Company structure | 6 Months Ended |
Jun. 30, 2021 | |
Changes in the Company structure | |
Changes in the Company structure | 2) Changes in the Company structure 2.1) Main acquisitions and divestments Ø Integrated Gas, Renewables & Power ● In January 2021, TotalEnergies finalized the acquisition of a 20% minority interest in Adani Green Energy Limited (AGEL) from Adani Group. Adani Green Energy Limited (AGEL), a part of the Adani Group, has 14.6 GW of operating, under-construction and awarded renewable power projects catering to investment-grade counterparties. Ø Refining & Chemicals ● In February 2021, TotalEnergies finalized the sale of Lindsey refinery and its associated logistic assets, as well as all the related rights and obligations, to the Prax Group. 2.2) Divestment projects Ø Exploration & Production ● TotalEnergies has initiated the sale process of its 30.323% interest in the share capital of Petrocedeño in Venezuela. As mentioned in Note 8 Subsequent Events, this process led to the execution on July 9, 2021 of a Share Purchase Agreement with PDVSA. As of June 30, 2021, the assets have been classified as “assets classified as held for sale” for a null ● On July 30, 2020, TotalEnergies announced that its 58% owned affiliate Total Gabon has signed an agreement with Perenco to divest its interests in seven mature non-operated offshore fields, along with its interests and operatorship in the Cap Lopez oil terminal. The transaction remains subject to approval by the Gabonese authorities. As of June 30, 2021, the assets and liabilities have been respectively classified in the consolidated balance sheet as "assets classified as held for sale" for an amount of $398 million and “liabilities classified as held for sale” for an amount of $169 million. These assets mainly include tangible assets. |
Business segment information
Business segment information | 6 Months Ended |
Jun. 30, 2021 | |
Business segment information | |
Business segment information | 3) Business segment information Description of the business segments Financial information by business segment is reported in accordance with the internal reporting system and shows internal segment information that is used to manage and measure the performance of TotalEnergies and which is reviewed by the main operational decision-making body of the Company, namely the Executive Committee. The operational profit and assets are broken down by business segment prior to the consolidation and inter-segment adjustments. Sales prices between business segments approximate market prices. The organization of the Company’s activities is structured around the four followings segments: - an Exploration & Production segment; - an Integrated Gas, Renewables & Power segment comprising integrated gas (including LNG) and low carbon electricity businesses. It includes the upstream and midstream LNG activity; - a Refining & Chemicals segment constituting a major industrial hub comprising the activities of refining, petrochemicals and specialty chemicals. This segment also includes the activities of oil Supply, Trading and marine Shipping; - a Marketing & Services segment including the global activities of supply and marketing in the field of petroleum products; In addition the Corporate segment includes holdings operating and financial activities. Adjustment items Performance indicators excluding the adjustment items, such as adjusted operating income, adjusted net operating income, and adjusted net income are meant to facilitate the analysis of the financial performance and the comparison of income between periods. Adjustment items include: (i) Special items Due to their unusual nature or particular significance, certain transactions qualified as “special items” are excluded from the business segment figures. In general, special items relate to transactions that are significant, infrequent or unusual. However, in certain instances, transactions such as restructuring costs or assets disposals, which are not considered to be representative of the normal course of business, may be qualified as special items although they may have occurred within prior years or are likely to occur again within the coming years. (ii) The inventory valuation effect The adjusted results of the Refining & Chemicals and Marketing & Services segments are presented according to the replacement cost method. This method is used to assess the segments’ performance and facilitate the comparability of the segments’ performance with those of its competitors. In the replacement cost method, which approximates the LIFO (Last-In, First-Out) method, the variation of inventory values in the statement of income is, depending on the nature of the inventory, determined using either the month-end prices differential between one period and another or the average prices of the period rather than the historical value. The inventory valuation effect is the difference between the results according to the FIFO (First-In, First-Out) and the replacement cost methods. (iii) Effect of changes in fair value The effect of changes in fair value presented as adjustment items reflects for certain transactions differences between the internal measure of performance used by TotalEnergies’s management and the accounting for these transactions under IFRS. IFRS requires that trading inventories be recorded at their fair value using period end spot prices. In order to best reflect the management of economic exposure through derivative transactions, internal indicators used to measure performance include valuations of trading inventories based on forward prices. TotalEnergies, in its trading activities, enters into storage contracts, which future effects are recorded at fair value in the Company’s internal economic performance. IFRS precludes recognition of this fair value effect. Furthermore, TotalEnergies enters into derivative instruments to risk manage certain operational contracts or assets. Under IFRS, these derivatives are recorded at fair value while the underlying operational transactions are recorded as they occur. Internal indicators defer the fair value on derivatives to match with the transaction occurrence. The adjusted results (adjusted operating income, adjusted net operating income, adjusted net income) are defined as replacement cost results, adjusted for special items and the effect of changes in fair value. 3.1) Information by business segment 1 st half 2021 Exploration Integrated Gas, Refining Marketing & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total External sales 3,257 10,588 40,054 36,880 7 - 90,786 Intersegment sales 14,433 1,555 11,890 186 68 (28,132) - Excise taxes - - (630) (9,890) - - (10,520) Revenues from sales 17,690 12,143 51,314 27,176 75 (28,132) 80,266 Operating expenses (7,352) (10,321) (48,579) (25,510) (374) 28,132 (64,004) Depreciation, depletion and impairment of tangible assets and mineral interests (4,317) (762) (787) (526) (54) - (6,446) Operating income 6,021 1,060 1,948 1,140 (353) - 9,816 Net income (loss) from equity affiliates and other items (973) 682 211 23 (5) - (62) Tax on net operating income (2,375) (157) (561) (352) 54 - (3,391) Net operating income 2,673 1,585 1,598 811 (304) - 6,363 Net cost of net debt (652) Non-controlling interests (161) Net income - TotalEnergies share 5,550 1 st half 2021 (adjustments) (a) Exploration Integrated Gas, Refining Marketing & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total External sales - (44) - - - - (44) Intersegment sales - - - - - - - Excise taxes - - - - - - - Revenues from sales - (44) - - - - (44) Operating expenses (23) (62) 1,131 213 - - 1,259 Depreciation, depletion and impairment of tangible assets and mineral interests - (148) (13) - - - (161) Operating income (b) (23) (254) 1,118 213 - - 1,054 Net income (loss) from equity affiliates and other items (1,482) (96) 28 (43) (62) - (1,655) Tax on net operating income (10) 59 (302) (60) 2 - (311) Net operating income (b) (1,515) (291) 844 110 (60) - (912) Net cost of net debt 10 Non-controlling interests (14) Net income - TotalEnergies share (916) (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. (b) Of which inventory valuation effect - On operating income - - 1,140 206 - - On net operating income - - 937 148 - 1 st half 2021 (adjusted) Exploration Integrated Gas, Refining Marketing & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total External sales 3,257 10,632 40,054 36,880 7 - 90,830 Intersegment sales 14,433 1,555 11,890 186 68 (28,132) - Excise taxes - - (630) (9,890) - - (10,520) Revenues from sales 17,690 12,187 51,314 27,176 75 (28,132) 80,310 Operating expenses (7,329) (10,259) (49,710) (25,723) (374) 28,132 (65,263) Depreciation, depletion and impairment of tangible assets and mineral interests (4,317) (614) (774) (526) (54) - (6,285) Adjusted operating income 6,044 1,314 830 927 (353) - 8,762 Net income (loss) from equity affiliates and other items 509 778 183 66 57 - 1,593 Tax on net operating income (2,365) (216) (259) (292) 52 - (3,080) Adjusted net operating income 4,188 1,876 754 701 (244) - 7,275 Net cost of net debt (662) Non-controlling interests (147) Adjusted net income - TotalEnergies share 6,466 1 st half 2021 Exploration Integrated Gas, Refining Marketing & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total Total expenditures 3,195 4,187 578 360 48 8,368 Total divestments 374 452 129 107 18 1,080 Cash flow from operating activities 8,571 1,347 3,228 1,102 (1,099) 13,149 1 st half 2020 Exploration Integrated Gas, Refining Marketing & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total External sales 2,574 8,403 27,956 30,661 6 - 69,600 Intersegment sales 8,661 895 9,051 196 59 (18,862) - Excise taxes - - (1,119) (8,342) - - (9,461) Revenues from sales 11,235 9,298 35,888 22,515 65 (18,862) 60,139 Operating expenses (6,048) (8,398) (35,736) (21,730) (562) 18,862 (53,612) Depreciation, depletion and impairment of tangible assets and mineral interests (12,311) (1,616) (788) (473) (40) - (15,228) Operating income (7,124) (716) (636) 312 (537) - (8,701) Net income (loss) from equity affiliates and other items 440 420 (92) 32 164 - 964 Tax on net operating income (56) 330 203 (159) 2 - 320 Net operating income (6,740) 34 (525) 185 (371) - (7,417) Net cost of net debt (1,003) Non-controlling interests 85 Net income - TotalEnergies share (8,335) 1 st half 2020 (adjustments) (a) Exploration Integrated Gas, Refining Marketing & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total External sales - (16) - - - - (16) Intersegment sales - - - - - - - Excise taxes - - - - - - - Revenues from sales - (16) - - - - (16) Operating expenses (37) (318) (1,637) (341) (91) - (2,424) Depreciation, depletion and impairment of tangible assets and mineral interests (7,338) (953) - - - - (8,291) Operating income (b) (7,375) (1,287) (1,637) (341) (91) - (10,731) Net income (loss) from equity affiliates and other items 71 (292) (271) (5) - - (497) Tax on net operating income 70 374 426 100 12 - 982 Net operating income (b) (7,234) (1,205) (1,482) (246) (79) - (10,246) Net cost of net debt (68) Non-controlling interests 72 Net income - TotalEnergies share (10,242) (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. (b) Of which inventory valuation effect - On operating income - - (1,604) (234) - - On net operating income - - (1,371) (163) - 1 st half 2020 (adjusted) Exploration Integrated Gas, Refining Marketing & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total External sales 2,574 8,419 27,956 30,661 6 - 69,616 Intersegment sales 8,661 895 9,051 196 59 (18,862) - Excise taxes - - (1,119) (8,342) - - (9,461) Revenues from sales 11,235 9,314 35,888 22,515 65 (18,862) 60,155 Operating expenses (6,011) (8,080) (34,099) (21,389) (471) 18,862 (51,188) Depreciation, depletion and impairment of tangible assets and mineral interests (4,973) (663) (788) (473) (40) - (6,937) Adjusted operating income 251 571 1,001 653 (446) - 2,030 Net income (loss) from equity affiliates and other items 369 712 179 37 164 - 1,461 Tax on net operating income (126) (44) (223) (259) (10) - (662) Adjusted net operating income 494 1,239 957 431 (292) - 2,829 Net cost of net debt (935) Non-controlling interests 13 Adjusted net income - TotalEnergies share 1,907 1 st half 2020 Exploration Integrated Gas, Refining Marketing & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total Total expenditures 3,265 3,461 533 334 66 7,659 Total divestments 325 433 101 72 26 957 Cash flow from operating activities 4,833 900 (103) 420 (1,272) 4,778 2 nd quarter 2021 Exploration Integrated Gas, Refining Marketing & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total External sales 1,743 5,086 20,853 19,367 - - 47,049 Intersegment sales 7,855 744 6,369 108 39 (15,115) - Excise taxes - - (225) (5,191) - - (5,416) Revenues from sales 9,598 5,830 26,997 14,284 39 (15,115) 41,633 Operating expenses (4,284) (5,103) (25,646) (13,434) (207) 15,115 (33,559) Depreciation, depletion and impairment of tangible assets and mineral interests (2,134) (291) (396) (271) (29) - (3,121) Operating income 3,180 436 955 579 (197) - 4,953 Net income (loss) from equity affiliates and other items (1,243) 419 123 57 23 - (621) Tax on net operating income (1,195) (56) (281) (176) 16 - (1,692) Net operating income 742 799 797 460 (158) - 2,640 Net cost of net debt (341) Non-controlling interests (93) Net income - TotalEnergies share 2,206 2 nd quarter 2021 (adjustments) (a) Exploration Integrated Gas, Refining Marketing & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total External sales - (9) - - - - (9) Intersegment sales - - - - - - - Excise taxes - - - - - - - Revenues from sales - (9) - - - - (9) Operating expenses (23) (54) 386 71 - - 380 Depreciation, depletion and impairment of tangible assets and mineral interests - (3) (13) - - - (16) Operating income (b) (23) (66) 373 71 - - 355 Net income (loss) from equity affiliates and other items (1,436) (47) 22 (8) (22) - (1,491) Tax on net operating income (12) 21 (109) (20) - - (120) Net operating income (b) (1,471) (92) 286 43 (22) - (1,256) Net cost of net debt 4 Non-controlling interests (5) Net income - TotalEnergies share (1,257) (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. (b) Of which inventory valuation effect - On operating income - - 394 69 - - On net operating income - - 331 50 - 2 nd quarter 2021 (adjusted) Exploration Integrated Gas, Refining Marketing & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total External sales 1,743 5,095 20,853 19,367 - - 47,058 Intersegment sales 7,855 744 6,369 108 39 (15,115) - Excise taxes - - (225) (5,191) - - (5,416) Revenues from sales 9,598 5,839 26,997 14,284 39 (15,115) 41,642 Operating expenses (4,261) (5,049) (26,032) (13,505) (207) 15,115 (33,939) Depreciation, depletion and impairment of tangible assets and mineral interests (2,134) (288) (383) (271) (29) - (3,105) Adjusted operating income 3,203 502 582 508 (197) - 4,598 Net income (loss) from equity affiliates and other items 193 466 101 65 45 - 870 Tax on net operating income (1,183) (77) (172) (156) 16 - (1,572) Adjusted net operating income 2,213 891 511 417 (136) - 3,896 Net cost of net debt (345) Non-controlling interests (88) Adjusted net income - TotalEnergies share 3,463 2 nd quarter 2021 Exploration Integrated Gas, Refining Marketing & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total Total expenditures 1,830 1,167 291 222 22 3,532 Total divestments 63 310 13 36 6 428 Cash flow from operating activities 4,835 567 2,232 437 (520) 7,551 2 nd quarter 2020 Exploration Integrated Gas, Refining Marketing & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total External sales 992 3,313 9,433 11,986 6 - 25,730 Intersegment sales 3,097 301 2,956 107 31 (6,492) - Excise taxes - - (469) (3,699) - - (4,168) Revenues from sales 4,089 3,614 11,920 8,394 37 (6,492) 21,562 Operating expenses (2,405) (3,406) (10,895) (7,931) (315) 6,492 (18,460) Depreciation, depletion and impairment of tangible assets and mineral interests (9,667) (1,282) (393) (229) (22) - (11,593) Operating income (7,983) (1,074) 632 234 (300) - (8,491) Net income (loss) from equity affiliates and other items 17 21 (35) 22 40 - 65 Tax on net operating income 398 322 (132) (127) (26) - 435 Net operating income (7,568) (731) 465 129 (286) - (7,991) Net cost of net debt (431) Non-controlling interests 53 Net income - TotalEnergies share (8,369) 2 nd quarter 2020 (adjustments) (a) Exploration Integrated Gas, Refining Marketing & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total External sales - (18) - - - - (18) Intersegment sales - - - - - - - Excise taxes - - - - - - - Revenues from sales - (18) - - - - (18) Operating expenses (27) (199) (48) 5 (36) - (305) Depreciation, depletion and impairment of tangible assets and mineral interests (7,338) (953) - - - - (8,291) Operating income (b) (7,365) (1,170) (48) 5 (36) - (8,614) Net income (loss) from equity affiliates and other items (57) (217) (63) (5) - - (342) Tax on net operating income 63 330 1 - 12 - 406 Net operating income (b) (7,359) (1,057) (110) - (24) - (8,550) Net cost of net debt 33 Non-controlling interests 22 Net income - TotalEnergies share (8,495) (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. (b) Of which inventory valuation effect - On operating income - - (26) (16) - - On net operating income - - (86) (9) - 2 nd quarter 2020 (adjusted) Exploration Integrated Gas, Refining Marketing & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total External sales 992 3,331 9,433 11,986 6 - 25,748 Intersegment sales 3,097 301 2,956 107 31 (6,492) - Excise taxes - - (469) (3,699) - - (4,168) Revenues from sales 4,089 3,632 11,920 8,394 37 (6,492) 21,580 Operating expenses (2,378) (3,207) (10,847) (7,936) (279) 6,492 (18,155) Depreciation, depletion and impairment of tangible assets and mineral interests (2,329) (329) (393) (229) (22) - (3,302) Adjusted operating income (618) 96 680 229 (264) - 123 Net income (loss) from equity affiliates and other items 74 238 28 27 40 - 407 Tax on net operating income 335 (8) (133) (127) (38) - 29 Adjusted net operating income (209) 326 575 129 (262) - 559 Net cost of net debt (464) Non-controlling interests 31 Adjusted net income - TotalEnergies share 126 2 nd quarter 2020 Exploration Integrated Gas, Refining Marketing & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total Total expenditures 1,606 1,170 307 174 21 3,278 Total divestments 204 89 22 26 9 350 Cash flow from operating activities 910 1,389 1,080 819 (719) 3,479 3.2) Reconciliation of the information by business segment with consolidated financial statements Consolidated 1 st half 2021 statement of (M$) Adjusted Adjustments (a) income Sales 90,830 (44) 90,786 Excise taxes (10,520) - (10,520) Revenues from sales 80,310 (44) 80,266 Purchases net of inventory variation (51,397) 1,280 (50,117) Other operating expenses (13,576) (21) (13,597) Exploration costs (290) - (290) Depreciation, depletion and impairment of tangible assets and mineral interests (6,285) (161) (6,446) Other income 554 27 581 Other expense (334) (623) (957) Financial interest on debt (967) - (967) Financial income and expense from cash & cash equivalents 156 16 172 Cost of net debt (811) 16 (795) Other financial income 374 - 374 Other financial expense (261) - (261) Net income (loss) from equity affiliates 1,260 (1,059) 201 Income taxes (2,931) (317) (3,248) Consolidated net income 6,613 (902) 5,711 TotalEnergies share 6,466 (916) 5,550 Non-controlling interests 147 14 161 (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. Consolidated 1 st half 2020 statement of (M$) Adjusted Adjustments (a) income Sales 69,616 (16) 69,600 Excise taxes (9,461) - (9,461) Revenues from sales 60,155 (16) 60,139 Purchases net of inventory variation (37,949) (2,144) (40,093) Other operating expenses (12,985) (280) (13,265) Exploration costs (254) - (254) Depreciation, depletion and impairment of tangible assets and mineral interests (6,937) (8,291) (15,228) Other income 820 122 942 Other expense (294) (234) (528) Financial interest on debt (1,094) (5) (1,099) Financial income and expense from cash & cash equivalents (13) (92) (105) Cost of net debt (1,107) (97) (1,204) Other financial income 607 - 607 Other financial expense (341) (1) (342) Net income (loss) from equity affiliates 669 (384) 285 Income taxes (490) 1,011 521 Consolidated net income 1,894 (10,314) (8,420) TotalEnergies share 1,907 (10,242) (8,335) Non-controlling interests (13) (72) (85) (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. Consolidated 2 nd quarter 2021 statement (M$) Adjusted Adjustments (a) of income Sales 47,058 (9) 47,049 Excise taxes (5,416) - (5,416) Revenues from sales 41,642 (9) 41,633 Purchases net of inventory variation (27,108) 389 (26,719) Other operating expenses (6,708) (9) (6,717) Exploration costs (123) - (123) Depreciation, depletion and impairment of tangible assets and mineral interests (3,105) (16) (3,121) Other income 138 85 223 Other expense (142) (156) (298) Financial interest on debt (501) - (501) Financial income and expense from cash & cash equivalents 69 8 77 Cost of net debt (432) 8 (424) Other financial income 265 - 265 Other financial expense (131) - (131) Net income (loss) from equity affiliates 740 (1,420) (680) Income taxes (1,485) (124) (1,609) Consolidated net income 3,551 (1,252) 2,299 TotalEnergies share 3,463 (1,257) 2,206 Non-controlling interests 88 5 93 (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. Consolidated 2 nd quarter 2020 statement (M$) Adjusted Adjustments (a) of income Sales 25,748 (18) 25,730 Excise taxes (4,168) - (4,168) Revenues from sales 21,580 (18) 21,562 Purchases net of inventory variation (11,842) (183) (12,025) Other operating expenses (6,199) (122) (6,321) Exploration costs (114) - (114) Depreciation, depletion and impairment of tangible assets and mineral interests (3,302) (8,291) (11,593) Other income 240 122 362 Other expense (103) (5) (108) Financial interest on debt (527) (3) (530) Financial income and expense from cash & cash equivalents (3) 53 50 Cost of net debt (530) 50 (480) Other financial income 419 - 419 Other financial expense (160) (1) (161) Net income (loss) from equity affiliates 11 (458) (447) Income taxes 95 389 484 Consolidated net income 95 (8,517) (8,422) TotalEnergies share 126 (8,495) (8,369) Non-controlling interests (31) (22) (53) (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. 3.3) Adjustment items The detail of the adjustment items is presented in the table below. ADJUSTMENTS TO OPERATING INCOME Exploration Integrated Gas, Refining Marketing & Renewables & & (M$) Production & Power Chemicals Services Corporate Total 2 nd quarter 2021 Inventory valuation effect - - 394 69 - 463 Effect of changes in fair value - (49) - - - (49) Restructuring charges - (1) (8) - - (9) Asset impairment charges - (3) (13) - - (16) Other items (23) (13) - 2 - (34) Total (23) (66) 373 71 - 355 2 nd quarter 2020 Inventory valuation effect - - (26) (16) - (42) Effect of changes in fair value - (100) - - - (100) Restructuring charges - (10) (7) - - (17) Asset impairment charges (7,338) (953) - - - (8,291) Other items (27) (107) (15) 21 (36) (164) Total (7,365) (1,170) (48) 5 (36) (8,614) 1 st half 2021 Inventory valuation effect - - 1,140 206 - 1,346 Effect of changes in fair value - (58) - - - (58) Restructuring charges - (10) (8) - - (18) Asset impairment charges - (148) (13) - - (161) Other items (23) (38) (1) 7 - (55) Total (23) (254) 1,118 213 - 1,054 1 st half 2020 Inventory valuation effect - - (1,604) (234) - (1,838) Effect of changes in fair value - (98) - - - (98) Restructuring charges (10) (18) (7) - - (35) Asset impairment charges (7,338) (953) - - - (8,291) Other items (27) (218) (26) (107) (91) (469) Total (7,375) (1,287) (1,637) (341) (91) (10,731) ADJUSTMENTS TO NET INCOME, TotalEnergies SHARE Exploration Integrated Gas, Refining Marketing & Renewables & & (M$) Production & Power Chemicals Services Corporate Total 2 nd quarter 2021 Inventory valuation effect - - 327 48 - 375 Effect of changes in fair value - (44) - - - (44) Restructuring charges (44) (4) (32) (8) (22) (110) Asset impairment charges - (36) (13) - - (49) Gains (losses) on disposals of assets (1,379) * - - - - (1,379) Other items (44) (7) - 1 - (50) Total (1,467) (91) 282 41 (22) (1,257) * Impact of the TotalEnergies' interest sale of Petrocedeño to PDVSA. 2 nd quarter 2020 Inventory valuation effect - - (83) (11) - (94) Effect of changes in fair value - (80) - - - (80) Restructuring charges - (10) (10) - - (20) Asset impairment charges (7,272) (829) - - - (8,101) Gains (losses) on disposals of assets - - - - - - Other items (77) (131) (14) 10 12 (200) Total (7,349) (1,050) (107) (1) 12 (8,495) 1 st half 2021 Inventory valuation effect - - 926 138 - 1,064 Effect of changes in fair value - (50) - - - (50) Restructuring charges (85) (12) (71) (43) (60) (271) Asset impairment charges - (180) (13) - - (193) Gains (losses) on disposals of assets (1,379) * - - - - (1,379) Other items (41) (42) (9) 5 - (87) Total (1,505) (284) 833 100 (60) (916) * Impact of the TotalEnergies' interest sale of Petrocedeño to PDVSA. 1 st half 2020 Inventory valuation effect - - (1,364) (144) - (1,508) Effect of changes in fair value - (79) - - - (79) Restructuring charges (3) (22) (75) - - (100) Asset impairment charges (7,272) (829) - - - (8,101) Gains (losses) on disposals of assets - - - - - - Other items 51 (256) (36) (71) (142) (454) Total (7,224) (1,186) (1,475) (215) (142) (10,242) |
Shareholders' equity
Shareholders' equity | 6 Months Ended |
Jun. 30, 2021 | |
Shareholders' equity. | |
Shareholders' equity | 4) Shareholders’ equity Treasury shares (TotalEnergies shares held directly by TotalEnergies SE) Shares to be allocated as part of performance share grant plans including the 2019 Plan 99,750 including other Plans 74,675 Total Treasury shares 174,425 Dividend The Shareholders’ meeting of May 28, 2021 approved the distribution of a dividend of 2.64 euros per share for the 2020 fiscal year and the payment of a final dividend of 0.66 euro per share given the three interim dividends that had already been paid. The dividend for the fiscal year 2020 was paid according to the following timetable: Dividend 2020 First interim Second interim Third interim Final Amount € 0.66 € 0.66 € 0.66 € 0.66 Set date May 4, 2020 July 29, 2020 October 29, 2020 May 28, 2021 Ex-dividend date September 25, 2020 January 4, 2021 March 25, 2021 June 24, 2021 Payment date October 2, 2020 January 11, 2021 April 1, 2021 July 1, 2021 Furthermore, on July 28, 2021 the Board of Directors decided to set the second interim dividend for the fiscal year 2021 at 0.66 euro per share, equal to the first interim dividend. This second interim dividend will be paid in cash on January 13, 2022 (the ex-dividend date will be January 3, 2022). Dividend 2021 First interim Second interim Amount € 0.66 € 0.66 Set date April 28, 2021 July 28, 2021 Ex-dividend date September 21, 2021 January 3, 2022 Payment date October 1, 2021 January 13, 2022 Earnings per share in Euro Earnings per share in Euro, calculated from the earnings per share in U.S. dollars converted at the average Euro/USD exchange rate for the period, amounted to € 0.66 per share for the 2 nd quarter 2021 ( € 1.03 per share for the 1 st quarter 2021 and € (2.98) per share for the 2 nd quarter 2020). Diluted earnings per share calculated using the same method amounted to € 0.66 per share for the 2 nd quarter 2021 ( € 1.02 per share for the 1st quarter 2021 and € (2.98) per share for the 2 nd quarter 2020). Earnings per share are calculated after remuneration of perpetual subordinated notes. Perpetual subordinated notes The Company issued perpetual subordinated notes in January 2021: - Perpetual subordinated notes 1.625% callable in January 2028, or in anticipation in October 2027 (EUR 1,500 million); and - Perpetual subordinated notes 2.125% callable in January 2033, or in anticipation in July 2032 (EUR 1,500 million). Following the two tender operations on perpetual subordinated notes 2.250% callable from February 2021 (carried out in April 2019 and September 2020 for EUR 1,500 million and EUR 703 million respectively), TotalEnergies SE fully reimbursed the residual nominal amount of this note at its first call date for an amount of EUR 297 million on February 26, 2021. Other comprehensive income Detail of other comprehensive income is presented in the table below: (M$) 1 st half 2021 1 st half 2020 Actuarial gains and losses 449 (223) Change in fair value of investments in equity instruments 68 (74) Tax effect (154) 86 Currency translation adjustment generated by the parent company (2,934) (196) Sub-total items not potentially reclassifiable to profit and loss (2,571) (407) Currency translation adjustment 1,777 (940) - unrealized gain/(loss) of the period 1,898 (907) - less gain/(loss) included in net income 121 33 Cash flow hedge 80 (1,293) - unrealized gain/(loss) of the period (56) (1,317) - less gain/(loss) included in net income (136) (24) Variation of foreign currency basis spread (4) 70 - unrealized gain/(loss) of the period (29) 42 - less gain/(loss) included in net income (25) (28) Share of other comprehensive income of equity affiliates, net amount 451 (927) - unrealized gain/(loss) of the period 449 (936) - less gain/(loss) included in net income (2) (9) Other - 3 Tax effect (57) 367 Sub-total items potentially reclassifiable to profit and loss 2,247 (2,720) Total other comprehensive income, net amount (324) (3,127) Tax effects relating to each component of other comprehensive income are as follows: 1 st half 2021 1 st half 2020 Pre-tax Pre-tax (M$) amount Tax effect Net amount amount Tax effect Net amount Actuarial gains and losses 449 (141) 308 (223) 56 (167) Change in fair value of investments in equity instruments 68 (13) 55 (74) 30 (44) Currency translation adjustment generated by the parent company (2,934) - (2,934) (196) - (196) Sub-total items not potentially reclassifiable to profit and loss (2,417) (154) (2,571) (493) 86 (407) Currency translation adjustment 1,777 - 1,777 (940) - (940) Cash flow hedge 80 (55) 25 (1,293) 389 (904) Variation of foreign currency basis spread (4) (2) (6) 70 (22) 48 Share of other comprehensive income of equity affiliates, net amount 451 - 451 (927) - (927) Other - - - 3 - 3 Sub-total items potentially reclassifiable to profit and loss 2,304 (57) 2,247 (3,087) 367 (2,720) Total other comprehensive income (113) (211) (324) (3,580) 453 (3,127) |
Financial debt
Financial debt | 6 Months Ended |
Jun. 30, 2021 | |
Financial debt | |
Financial debt | 5) Financial debt The Company has not issued any new senior bond during the first six months of 2021. The Company reimbursed two senior bonds during the first six months of 2021: - - On April 2, 2020, the Company put in place a committed syndicated credit line with banking counterparties for an initial amount of USD 6,350 million and with a 12-month On April 1, 2021, the Company reimbursed in full the balance of this committed syndicated credit line for an amount of USD 2,646 million. |
Related parties
Related parties | 6 Months Ended |
Jun. 30, 2021 | |
Related parties | |
Related parties | 6) Related parties The related parties are mainly equity affiliates and non-consolidated investments. There were no major changes concerning transactions with related parties during the first six months of 2021. |
Other risks and contingent liab
Other risks and contingent liabilities | 6 Months Ended |
Jun. 30, 2021 | |
Other risks and contingent liabilities | |
Other risks and contingent liabilities | 7) Other risks and contingent liabilities TotalEnergies is not currently aware of any exceptional event, dispute, risks or contingent liabilities that could have a material impact on the assets and liabilities, results, financial position or operations of the TotalEnergies, other than those mentioned below. Yemen In Yemen, the deterioration of security conditions in the vicinity of the Balhaf site caused the company Yemen LNG, in which TotalEnergies holds a stake of 39.62%, to stop its commercial production and export of LNG and to declare force majeure to its various stakeholders in 2015. The plant has been put in preservation mode. Mozambique Considering the evolution of the security situation in the north of the Cabo Delgado province in Mozambique, TotalEnergies has confirmed on April 26, 2021 the withdrawal of all Mozambique LNG project personnel from the Afungi site. This situation led TotalEnergies, as operator of Mozambique LNG project, to declare force majeure. |
Subsequent events
Subsequent events | 6 Months Ended |
Jun. 30, 2021 | |
Subsequent events | |
Subsequent events | 8) Subsequent events On July 9, 2021, TotalEnergies executed a Share Purchase Agreement with PDVSA for the sale of its 30.323% interest in the share capital of Petrocedeño in Venezuela. The contractual conditions necessary to close this transaction are the approval of the Venezuelan Ministry of Petroleum (MINPET) and the approval of the Board of Directors of TotalEnergies SE. The Board of Directors of TotalEnergies SE approved this transaction on July 28, 2021. |
Accounting policies (Policies)
Accounting policies (Policies) | 6 Months Ended |
Jun. 30, 2021 | |
Accounting policies | |
Basis of preparation of the consolidated financial statements | The consolidated financial statements are prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union and IFRS as published by the International Accounting Standards Board (IASB). The interim consolidated financial statements of TotalEnergies SE and its subsidiaries (the Company) as of June 30, 2021, are presented in U.S. dollars and have been prepared in accordance with International Accounting Standard (IAS) 34 “Interim Financial Reporting”. |
Accounting principles applied in the interim financial statements | The accounting principles applied for the consolidated financial statements at June 30, 2021, are consistent with those used for the financial statements at December 31, 2020. Since January 1, 2020, the Company has early adopted the amendments to IFRS 7 and IFRS 9 relating to the interest rate benchmark reform phase II. In particular, these amendments allow to maintain the hedge accounting qualification of interest rate derivatives. |
Business segment information (T
Business segment information (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Business segment information | |
Schedule of information by business segment | 1 st half 2021 Exploration Integrated Gas, Refining Marketing & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total External sales 3,257 10,588 40,054 36,880 7 - 90,786 Intersegment sales 14,433 1,555 11,890 186 68 (28,132) - Excise taxes - - (630) (9,890) - - (10,520) Revenues from sales 17,690 12,143 51,314 27,176 75 (28,132) 80,266 Operating expenses (7,352) (10,321) (48,579) (25,510) (374) 28,132 (64,004) Depreciation, depletion and impairment of tangible assets and mineral interests (4,317) (762) (787) (526) (54) - (6,446) Operating income 6,021 1,060 1,948 1,140 (353) - 9,816 Net income (loss) from equity affiliates and other items (973) 682 211 23 (5) - (62) Tax on net operating income (2,375) (157) (561) (352) 54 - (3,391) Net operating income 2,673 1,585 1,598 811 (304) - 6,363 Net cost of net debt (652) Non-controlling interests (161) Net income - TotalEnergies share 5,550 1 st half 2021 (adjustments) (a) Exploration Integrated Gas, Refining Marketing & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total External sales - (44) - - - - (44) Intersegment sales - - - - - - - Excise taxes - - - - - - - Revenues from sales - (44) - - - - (44) Operating expenses (23) (62) 1,131 213 - - 1,259 Depreciation, depletion and impairment of tangible assets and mineral interests - (148) (13) - - - (161) Operating income (b) (23) (254) 1,118 213 - - 1,054 Net income (loss) from equity affiliates and other items (1,482) (96) 28 (43) (62) - (1,655) Tax on net operating income (10) 59 (302) (60) 2 - (311) Net operating income (b) (1,515) (291) 844 110 (60) - (912) Net cost of net debt 10 Non-controlling interests (14) Net income - TotalEnergies share (916) (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. (b) Of which inventory valuation effect - On operating income - - 1,140 206 - - On net operating income - - 937 148 - 1 st half 2021 (adjusted) Exploration Integrated Gas, Refining Marketing & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total External sales 3,257 10,632 40,054 36,880 7 - 90,830 Intersegment sales 14,433 1,555 11,890 186 68 (28,132) - Excise taxes - - (630) (9,890) - - (10,520) Revenues from sales 17,690 12,187 51,314 27,176 75 (28,132) 80,310 Operating expenses (7,329) (10,259) (49,710) (25,723) (374) 28,132 (65,263) Depreciation, depletion and impairment of tangible assets and mineral interests (4,317) (614) (774) (526) (54) - (6,285) Adjusted operating income 6,044 1,314 830 927 (353) - 8,762 Net income (loss) from equity affiliates and other items 509 778 183 66 57 - 1,593 Tax on net operating income (2,365) (216) (259) (292) 52 - (3,080) Adjusted net operating income 4,188 1,876 754 701 (244) - 7,275 Net cost of net debt (662) Non-controlling interests (147) Adjusted net income - TotalEnergies share 6,466 1 st half 2021 Exploration Integrated Gas, Refining Marketing & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total Total expenditures 3,195 4,187 578 360 48 8,368 Total divestments 374 452 129 107 18 1,080 Cash flow from operating activities 8,571 1,347 3,228 1,102 (1,099) 13,149 1 st half 2020 Exploration Integrated Gas, Refining Marketing & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total External sales 2,574 8,403 27,956 30,661 6 - 69,600 Intersegment sales 8,661 895 9,051 196 59 (18,862) - Excise taxes - - (1,119) (8,342) - - (9,461) Revenues from sales 11,235 9,298 35,888 22,515 65 (18,862) 60,139 Operating expenses (6,048) (8,398) (35,736) (21,730) (562) 18,862 (53,612) Depreciation, depletion and impairment of tangible assets and mineral interests (12,311) (1,616) (788) (473) (40) - (15,228) Operating income (7,124) (716) (636) 312 (537) - (8,701) Net income (loss) from equity affiliates and other items 440 420 (92) 32 164 - 964 Tax on net operating income (56) 330 203 (159) 2 - 320 Net operating income (6,740) 34 (525) 185 (371) - (7,417) Net cost of net debt (1,003) Non-controlling interests 85 Net income - TotalEnergies share (8,335) 1 st half 2020 (adjustments) (a) Exploration Integrated Gas, Refining Marketing & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total External sales - (16) - - - - (16) Intersegment sales - - - - - - - Excise taxes - - - - - - - Revenues from sales - (16) - - - - (16) Operating expenses (37) (318) (1,637) (341) (91) - (2,424) Depreciation, depletion and impairment of tangible assets and mineral interests (7,338) (953) - - - - (8,291) Operating income (b) (7,375) (1,287) (1,637) (341) (91) - (10,731) Net income (loss) from equity affiliates and other items 71 (292) (271) (5) - - (497) Tax on net operating income 70 374 426 100 12 - 982 Net operating income (b) (7,234) (1,205) (1,482) (246) (79) - (10,246) Net cost of net debt (68) Non-controlling interests 72 Net income - TotalEnergies share (10,242) (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. (b) Of which inventory valuation effect - On operating income - - (1,604) (234) - - On net operating income - - (1,371) (163) - 1 st half 2020 (adjusted) Exploration Integrated Gas, Refining Marketing & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total External sales 2,574 8,419 27,956 30,661 6 - 69,616 Intersegment sales 8,661 895 9,051 196 59 (18,862) - Excise taxes - - (1,119) (8,342) - - (9,461) Revenues from sales 11,235 9,314 35,888 22,515 65 (18,862) 60,155 Operating expenses (6,011) (8,080) (34,099) (21,389) (471) 18,862 (51,188) Depreciation, depletion and impairment of tangible assets and mineral interests (4,973) (663) (788) (473) (40) - (6,937) Adjusted operating income 251 571 1,001 653 (446) - 2,030 Net income (loss) from equity affiliates and other items 369 712 179 37 164 - 1,461 Tax on net operating income (126) (44) (223) (259) (10) - (662) Adjusted net operating income 494 1,239 957 431 (292) - 2,829 Net cost of net debt (935) Non-controlling interests 13 Adjusted net income - TotalEnergies share 1,907 1 st half 2020 Exploration Integrated Gas, Refining Marketing & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total Total expenditures 3,265 3,461 533 334 66 7,659 Total divestments 325 433 101 72 26 957 Cash flow from operating activities 4,833 900 (103) 420 (1,272) 4,778 2 nd quarter 2021 Exploration Integrated Gas, Refining Marketing & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total External sales 1,743 5,086 20,853 19,367 - - 47,049 Intersegment sales 7,855 744 6,369 108 39 (15,115) - Excise taxes - - (225) (5,191) - - (5,416) Revenues from sales 9,598 5,830 26,997 14,284 39 (15,115) 41,633 Operating expenses (4,284) (5,103) (25,646) (13,434) (207) 15,115 (33,559) Depreciation, depletion and impairment of tangible assets and mineral interests (2,134) (291) (396) (271) (29) - (3,121) Operating income 3,180 436 955 579 (197) - 4,953 Net income (loss) from equity affiliates and other items (1,243) 419 123 57 23 - (621) Tax on net operating income (1,195) (56) (281) (176) 16 - (1,692) Net operating income 742 799 797 460 (158) - 2,640 Net cost of net debt (341) Non-controlling interests (93) Net income - TotalEnergies share 2,206 2 nd quarter 2021 (adjustments) (a) Exploration Integrated Gas, Refining Marketing & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total External sales - (9) - - - - (9) Intersegment sales - - - - - - - Excise taxes - - - - - - - Revenues from sales - (9) - - - - (9) Operating expenses (23) (54) 386 71 - - 380 Depreciation, depletion and impairment of tangible assets and mineral interests - (3) (13) - - - (16) Operating income (b) (23) (66) 373 71 - - 355 Net income (loss) from equity affiliates and other items (1,436) (47) 22 (8) (22) - (1,491) Tax on net operating income (12) 21 (109) (20) - - (120) Net operating income (b) (1,471) (92) 286 43 (22) - (1,256) Net cost of net debt 4 Non-controlling interests (5) Net income - TotalEnergies share (1,257) (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. (b) Of which inventory valuation effect - On operating income - - 394 69 - - On net operating income - - 331 50 - 2 nd quarter 2021 (adjusted) Exploration Integrated Gas, Refining Marketing & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total External sales 1,743 5,095 20,853 19,367 - - 47,058 Intersegment sales 7,855 744 6,369 108 39 (15,115) - Excise taxes - - (225) (5,191) - - (5,416) Revenues from sales 9,598 5,839 26,997 14,284 39 (15,115) 41,642 Operating expenses (4,261) (5,049) (26,032) (13,505) (207) 15,115 (33,939) Depreciation, depletion and impairment of tangible assets and mineral interests (2,134) (288) (383) (271) (29) - (3,105) Adjusted operating income 3,203 502 582 508 (197) - 4,598 Net income (loss) from equity affiliates and other items 193 466 101 65 45 - 870 Tax on net operating income (1,183) (77) (172) (156) 16 - (1,572) Adjusted net operating income 2,213 891 511 417 (136) - 3,896 Net cost of net debt (345) Non-controlling interests (88) Adjusted net income - TotalEnergies share 3,463 2 nd quarter 2021 Exploration Integrated Gas, Refining Marketing & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total Total expenditures 1,830 1,167 291 222 22 3,532 Total divestments 63 310 13 36 6 428 Cash flow from operating activities 4,835 567 2,232 437 (520) 7,551 2 nd quarter 2020 Exploration Integrated Gas, Refining Marketing & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total External sales 992 3,313 9,433 11,986 6 - 25,730 Intersegment sales 3,097 301 2,956 107 31 (6,492) - Excise taxes - - (469) (3,699) - - (4,168) Revenues from sales 4,089 3,614 11,920 8,394 37 (6,492) 21,562 Operating expenses (2,405) (3,406) (10,895) (7,931) (315) 6,492 (18,460) Depreciation, depletion and impairment of tangible assets and mineral interests (9,667) (1,282) (393) (229) (22) - (11,593) Operating income (7,983) (1,074) 632 234 (300) - (8,491) Net income (loss) from equity affiliates and other items 17 21 (35) 22 40 - 65 Tax on net operating income 398 322 (132) (127) (26) - 435 Net operating income (7,568) (731) 465 129 (286) - (7,991) Net cost of net debt (431) Non-controlling interests 53 Net income - TotalEnergies share (8,369) 2 nd quarter 2020 (adjustments) (a) Exploration Integrated Gas, Refining Marketing & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total External sales - (18) - - - - (18) Intersegment sales - - - - - - - Excise taxes - - - - - - - Revenues from sales - (18) - - - - (18) Operating expenses (27) (199) (48) 5 (36) - (305) Depreciation, depletion and impairment of tangible assets and mineral interests (7,338) (953) - - - - (8,291) Operating income (b) (7,365) (1,170) (48) 5 (36) - (8,614) Net income (loss) from equity affiliates and other items (57) (217) (63) (5) - - (342) Tax on net operating income 63 330 1 - 12 - 406 Net operating income (b) (7,359) (1,057) (110) - (24) - (8,550) Net cost of net debt 33 Non-controlling interests 22 Net income - TotalEnergies share (8,495) (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. (b) Of which inventory valuation effect - On operating income - - (26) (16) - - On net operating income - - (86) (9) - 2 nd quarter 2020 (adjusted) Exploration Integrated Gas, Refining Marketing & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total External sales 992 3,331 9,433 11,986 6 - 25,748 Intersegment sales 3,097 301 2,956 107 31 (6,492) - Excise taxes - - (469) (3,699) - - (4,168) Revenues from sales 4,089 3,632 11,920 8,394 37 (6,492) 21,580 Operating expenses (2,378) (3,207) (10,847) (7,936) (279) 6,492 (18,155) Depreciation, depletion and impairment of tangible assets and mineral interests (2,329) (329) (393) (229) (22) - (3,302) Adjusted operating income (618) 96 680 229 (264) - 123 Net income (loss) from equity affiliates and other items 74 238 28 27 40 - 407 Tax on net operating income 335 (8) (133) (127) (38) - 29 Adjusted net operating income (209) 326 575 129 (262) - 559 Net cost of net debt (464) Non-controlling interests 31 Adjusted net income - TotalEnergies share 126 2 nd quarter 2020 Exploration Integrated Gas, Refining Marketing & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total Total expenditures 1,606 1,170 307 174 21 3,278 Total divestments 204 89 22 26 9 350 Cash flow from operating activities 910 1,389 1,080 819 (719) 3,479 |
Schedule of reconciliation of the information by business segment with consolidated financial statements | Consolidated 1 st half 2021 statement of (M$) Adjusted Adjustments (a) income Sales 90,830 (44) 90,786 Excise taxes (10,520) - (10,520) Revenues from sales 80,310 (44) 80,266 Purchases net of inventory variation (51,397) 1,280 (50,117) Other operating expenses (13,576) (21) (13,597) Exploration costs (290) - (290) Depreciation, depletion and impairment of tangible assets and mineral interests (6,285) (161) (6,446) Other income 554 27 581 Other expense (334) (623) (957) Financial interest on debt (967) - (967) Financial income and expense from cash & cash equivalents 156 16 172 Cost of net debt (811) 16 (795) Other financial income 374 - 374 Other financial expense (261) - (261) Net income (loss) from equity affiliates 1,260 (1,059) 201 Income taxes (2,931) (317) (3,248) Consolidated net income 6,613 (902) 5,711 TotalEnergies share 6,466 (916) 5,550 Non-controlling interests 147 14 161 (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. Consolidated 1 st half 2020 statement of (M$) Adjusted Adjustments (a) income Sales 69,616 (16) 69,600 Excise taxes (9,461) - (9,461) Revenues from sales 60,155 (16) 60,139 Purchases net of inventory variation (37,949) (2,144) (40,093) Other operating expenses (12,985) (280) (13,265) Exploration costs (254) - (254) Depreciation, depletion and impairment of tangible assets and mineral interests (6,937) (8,291) (15,228) Other income 820 122 942 Other expense (294) (234) (528) Financial interest on debt (1,094) (5) (1,099) Financial income and expense from cash & cash equivalents (13) (92) (105) Cost of net debt (1,107) (97) (1,204) Other financial income 607 - 607 Other financial expense (341) (1) (342) Net income (loss) from equity affiliates 669 (384) 285 Income taxes (490) 1,011 521 Consolidated net income 1,894 (10,314) (8,420) TotalEnergies share 1,907 (10,242) (8,335) Non-controlling interests (13) (72) (85) (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. Consolidated 2 nd quarter 2021 statement (M$) Adjusted Adjustments (a) of income Sales 47,058 (9) 47,049 Excise taxes (5,416) - (5,416) Revenues from sales 41,642 (9) 41,633 Purchases net of inventory variation (27,108) 389 (26,719) Other operating expenses (6,708) (9) (6,717) Exploration costs (123) - (123) Depreciation, depletion and impairment of tangible assets and mineral interests (3,105) (16) (3,121) Other income 138 85 223 Other expense (142) (156) (298) Financial interest on debt (501) - (501) Financial income and expense from cash & cash equivalents 69 8 77 Cost of net debt (432) 8 (424) Other financial income 265 - 265 Other financial expense (131) - (131) Net income (loss) from equity affiliates 740 (1,420) (680) Income taxes (1,485) (124) (1,609) Consolidated net income 3,551 (1,252) 2,299 TotalEnergies share 3,463 (1,257) 2,206 Non-controlling interests 88 5 93 (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. Consolidated 2 nd quarter 2020 statement (M$) Adjusted Adjustments (a) of income Sales 25,748 (18) 25,730 Excise taxes (4,168) - (4,168) Revenues from sales 21,580 (18) 21,562 Purchases net of inventory variation (11,842) (183) (12,025) Other operating expenses (6,199) (122) (6,321) Exploration costs (114) - (114) Depreciation, depletion and impairment of tangible assets and mineral interests (3,302) (8,291) (11,593) Other income 240 122 362 Other expense (103) (5) (108) Financial interest on debt (527) (3) (530) Financial income and expense from cash & cash equivalents (3) 53 50 Cost of net debt (530) 50 (480) Other financial income 419 - 419 Other financial expense (160) (1) (161) Net income (loss) from equity affiliates 11 (458) (447) Income taxes 95 389 484 Consolidated net income 95 (8,517) (8,422) TotalEnergies share 126 (8,495) (8,369) Non-controlling interests (31) (22) (53) (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. |
Schedule of detail of the adjustment items | Exploration Integrated Gas, Refining Marketing & Renewables & & (M$) Production & Power Chemicals Services Corporate Total 2 nd quarter 2021 Inventory valuation effect - - 394 69 - 463 Effect of changes in fair value - (49) - - - (49) Restructuring charges - (1) (8) - - (9) Asset impairment charges - (3) (13) - - (16) Other items (23) (13) - 2 - (34) Total (23) (66) 373 71 - 355 2 nd quarter 2020 Inventory valuation effect - - (26) (16) - (42) Effect of changes in fair value - (100) - - - (100) Restructuring charges - (10) (7) - - (17) Asset impairment charges (7,338) (953) - - - (8,291) Other items (27) (107) (15) 21 (36) (164) Total (7,365) (1,170) (48) 5 (36) (8,614) 1 st half 2021 Inventory valuation effect - - 1,140 206 - 1,346 Effect of changes in fair value - (58) - - - (58) Restructuring charges - (10) (8) - - (18) Asset impairment charges - (148) (13) - - (161) Other items (23) (38) (1) 7 - (55) Total (23) (254) 1,118 213 - 1,054 1 st half 2020 Inventory valuation effect - - (1,604) (234) - (1,838) Effect of changes in fair value - (98) - - - (98) Restructuring charges (10) (18) (7) - - (35) Asset impairment charges (7,338) (953) - - - (8,291) Other items (27) (218) (26) (107) (91) (469) Total (7,375) (1,287) (1,637) (341) (91) (10,731) ADJUSTMENTS TO NET INCOME, TotalEnergies SHARE Exploration Integrated Gas, Refining Marketing & Renewables & & (M$) Production & Power Chemicals Services Corporate Total 2 nd quarter 2021 Inventory valuation effect - - 327 48 - 375 Effect of changes in fair value - (44) - - - (44) Restructuring charges (44) (4) (32) (8) (22) (110) Asset impairment charges - (36) (13) - - (49) Gains (losses) on disposals of assets (1,379) * - - - - (1,379) Other items (44) (7) - 1 - (50) Total (1,467) (91) 282 41 (22) (1,257) * Impact of the TotalEnergies' interest sale of Petrocedeño to PDVSA. 2 nd quarter 2020 Inventory valuation effect - - (83) (11) - (94) Effect of changes in fair value - (80) - - - (80) Restructuring charges - (10) (10) - - (20) Asset impairment charges (7,272) (829) - - - (8,101) Gains (losses) on disposals of assets - - - - - - Other items (77) (131) (14) 10 12 (200) Total (7,349) (1,050) (107) (1) 12 (8,495) 1 st half 2021 Inventory valuation effect - - 926 138 - 1,064 Effect of changes in fair value - (50) - - - (50) Restructuring charges (85) (12) (71) (43) (60) (271) Asset impairment charges - (180) (13) - - (193) Gains (losses) on disposals of assets (1,379) * - - - - (1,379) Other items (41) (42) (9) 5 - (87) Total (1,505) (284) 833 100 (60) (916) * Impact of the TotalEnergies' interest sale of Petrocedeño to PDVSA. 1 st half 2020 Inventory valuation effect - - (1,364) (144) - (1,508) Effect of changes in fair value - (79) - - - (79) Restructuring charges (3) (22) (75) - - (100) Asset impairment charges (7,272) (829) - - - (8,101) Gains (losses) on disposals of assets - - - - - - Other items 51 (256) (36) (71) (142) (454) Total (7,224) (1,186) (1,475) (215) (142) (10,242) |
Shareholders' equity (Tables)
Shareholders' equity (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Shareholders' equity. | |
Schedule of treasury shares held | Shares to be allocated as part of performance share grant plans including the 2019 Plan 99,750 including other Plans 74,675 Total Treasury shares 174,425 |
Schedule of information about dividends paid | Dividend 2020 First interim Second interim Third interim Final Amount € 0.66 € 0.66 € 0.66 € 0.66 Set date May 4, 2020 July 29, 2020 October 29, 2020 May 28, 2021 Ex-dividend date September 25, 2020 January 4, 2021 March 25, 2021 June 24, 2021 Payment date October 2, 2020 January 11, 2021 April 1, 2021 July 1, 2021 Dividend 2021 First interim Second interim Amount € 0.66 € 0.66 Set date April 28, 2021 July 28, 2021 Ex-dividend date September 21, 2021 January 3, 2022 Payment date October 1, 2021 January 13, 2022 |
Detail of other comprehensive income | (M$) 1 st half 2021 1 st half 2020 Actuarial gains and losses 449 (223) Change in fair value of investments in equity instruments 68 (74) Tax effect (154) 86 Currency translation adjustment generated by the parent company (2,934) (196) Sub-total items not potentially reclassifiable to profit and loss (2,571) (407) Currency translation adjustment 1,777 (940) - unrealized gain/(loss) of the period 1,898 (907) - less gain/(loss) included in net income 121 33 Cash flow hedge 80 (1,293) - unrealized gain/(loss) of the period (56) (1,317) - less gain/(loss) included in net income (136) (24) Variation of foreign currency basis spread (4) 70 - unrealized gain/(loss) of the period (29) 42 - less gain/(loss) included in net income (25) (28) Share of other comprehensive income of equity affiliates, net amount 451 (927) - unrealized gain/(loss) of the period 449 (936) - less gain/(loss) included in net income (2) (9) Other - 3 Tax effect (57) 367 Sub-total items potentially reclassifiable to profit and loss 2,247 (2,720) Total other comprehensive income, net amount (324) (3,127) Tax effects relating to each component of other comprehensive income are as follows: 1 st half 2021 1 st half 2020 Pre-tax Pre-tax (M$) amount Tax effect Net amount amount Tax effect Net amount Actuarial gains and losses 449 (141) 308 (223) 56 (167) Change in fair value of investments in equity instruments 68 (13) 55 (74) 30 (44) Currency translation adjustment generated by the parent company (2,934) - (2,934) (196) - (196) Sub-total items not potentially reclassifiable to profit and loss (2,417) (154) (2,571) (493) 86 (407) Currency translation adjustment 1,777 - 1,777 (940) - (940) Cash flow hedge 80 (55) 25 (1,293) 389 (904) Variation of foreign currency basis spread (4) (2) (6) 70 (22) 48 Share of other comprehensive income of equity affiliates, net amount 451 - 451 (927) - (927) Other - - - 3 - 3 Sub-total items potentially reclassifiable to profit and loss 2,304 (57) 2,247 (3,087) 367 (2,720) Total other comprehensive income (113) (211) (324) (3,580) 453 (3,127) |
Changes in the Company struct_2
Changes in the Company structure - Main acquisitions and divestments (Details) | 1 Months Ended |
Jan. 31, 2021GW | |
Adani Green Energy Limited (AGEL) | |
Main acquisitions and divestments | |
Percentage of interest acquired | 20.00% |
Adani Green Energy Limited (AGEL) | |
Main acquisitions and divestments | |
Operating, under-construction and awarded renewable power projects held | 14.6 |
Changes in the Company struct_3
Changes in the Company structure - Divestment projects (Details) $ in Millions | Jul. 09, 2021USD ($) | Jul. 30, 2020 | Jun. 30, 2021USD ($) | Mar. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Jun. 30, 2020USD ($) |
Divestment projects | ||||||
Asset classified as held for sale | $ 456 | $ 396 | $ 1,555 | $ 421 | ||
Liabilities classified as held for sale | 290 | $ 161 | $ 1,335 | $ 328 | ||
Petrocedeno | ||||||
Divestment projects | ||||||
Proportion of ownership interest in associate | 30.323% | |||||
Total Gabon | ||||||
Divestment projects | ||||||
Proportion of ownership interest held | 58.00% | |||||
Mature non-operated offshore fields | ||||||
Divestment projects | ||||||
Asset classified as held for sale | 398 | |||||
Liabilities classified as held for sale | $ 169 | |||||
Mature non-operated offshore fields | Total Gabon | ||||||
Divestment projects | ||||||
Number of mature non-operated offshore fields held for sale | 7 | |||||
Petrocedeno | ||||||
Divestment projects | ||||||
Loss on classification as held for sale | $ (1,380) | |||||
Asset classified as held for sale | $ 0 |
Business segment information -
Business segment information - Information by business segment (Details) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021USD ($) | Mar. 31, 2021USD ($) | Jun. 30, 2020USD ($) | Jun. 30, 2021USD ($)segment | Jun. 30, 2020USD ($) | |
Business segment information | |||||
Number of business segments | segment | 4 | ||||
Sales | $ 47,049 | $ 43,737 | $ 25,730 | $ 90,786 | $ 69,600 |
Excise taxes | (5,416) | (5,104) | (4,168) | (10,520) | (9,461) |
Revenues from sales | 41,633 | 38,633 | 21,562 | 80,266 | 60,139 |
Operating expenses | (33,559) | (18,460) | (64,004) | (53,612) | |
Depreciation, depletion and impairment of tangible assets and mineral interests | (3,121) | (3,325) | (11,593) | (6,446) | (15,228) |
Operating income | 4,953 | (8,491) | 9,816 | (8,701) | |
Net income (loss) from equity affiliates and other items | (621) | 65 | (62) | 964 | |
Tax on net operating income | (1,692) | 435 | (3,391) | 320 | |
Net operating income | 2,640 | (7,991) | 6,363 | (7,417) | |
Net cost of net debt | (341) | (431) | (652) | (1,003) | |
Non-controlling interests | (93) | (68) | 53 | (161) | 85 |
Net income - TotalEnergies share | 2,206 | 3,344 | (8,369) | 5,550 | (8,335) |
Total expenditures | 3,532 | 4,836 | 3,278 | 8,368 | 7,659 |
Total divestments | 428 | 652 | 350 | 1,080 | 957 |
Cash flow from operating activities | 7,551 | $ 5,598 | 3,479 | 13,149 | 4,778 |
Intercompany | |||||
Business segment information | |||||
Sales | (15,115) | (6,492) | (28,132) | (18,862) | |
Revenues from sales | (15,115) | (6,492) | (28,132) | (18,862) | |
Operating expenses | 15,115 | 6,492 | 28,132 | 18,862 | |
Exploration & Production | |||||
Business segment information | |||||
Sales | 1,743 | 992 | 3,257 | 2,574 | |
Depreciation, depletion and impairment of tangible assets and mineral interests | (2,134) | (9,667) | (4,317) | (12,311) | |
Operating income | 3,180 | (7,983) | 6,021 | (7,124) | |
Net income (loss) from equity affiliates and other items | (1,243) | 17 | (973) | 440 | |
Tax on net operating income | (1,195) | 398 | (2,375) | (56) | |
Net operating income | 742 | (7,568) | 2,673 | (6,740) | |
Total expenditures | 1,830 | 1,606 | 3,195 | 3,265 | |
Total divestments | 63 | 204 | 374 | 325 | |
Cash flow from operating activities | 4,835 | 910 | 8,571 | 4,833 | |
Exploration & Production | Business segments and Corporate | |||||
Business segment information | |||||
Revenues from sales | 9,598 | 4,089 | 17,690 | 11,235 | |
Operating expenses | (4,284) | (2,405) | (7,352) | (6,048) | |
Exploration & Production | Intercompany | |||||
Business segment information | |||||
Sales | (7,855) | (3,097) | (14,433) | (8,661) | |
Integrated Gas, Renewables and Power | |||||
Business segment information | |||||
Sales | 5,086 | 3,313 | 10,588 | 8,403 | |
Depreciation, depletion and impairment of tangible assets and mineral interests | (291) | (1,282) | (762) | (1,616) | |
Operating income | 436 | (1,074) | 1,060 | (716) | |
Net income (loss) from equity affiliates and other items | 419 | 21 | 682 | 420 | |
Tax on net operating income | (56) | 322 | (157) | 330 | |
Net operating income | 799 | (731) | 1,585 | 34 | |
Total expenditures | 1,167 | 1,170 | 4,187 | 3,461 | |
Total divestments | 310 | 89 | 452 | 433 | |
Cash flow from operating activities | 567 | 1,389 | 1,347 | 900 | |
Integrated Gas, Renewables and Power | Business segments and Corporate | |||||
Business segment information | |||||
Revenues from sales | 5,830 | 3,614 | 12,143 | 9,298 | |
Operating expenses | (5,103) | (3,406) | (10,321) | (8,398) | |
Integrated Gas, Renewables and Power | Intercompany | |||||
Business segment information | |||||
Sales | (744) | (301) | (1,555) | (895) | |
Refining & Chemicals | |||||
Business segment information | |||||
Sales | 20,853 | 9,433 | 40,054 | 27,956 | |
Excise taxes | (225) | (469) | (630) | (1,119) | |
Depreciation, depletion and impairment of tangible assets and mineral interests | (396) | (393) | (787) | (788) | |
Operating income | 955 | 632 | 1,948 | (636) | |
Net income (loss) from equity affiliates and other items | 123 | (35) | 211 | (92) | |
Tax on net operating income | (281) | (132) | (561) | 203 | |
Net operating income | 797 | 465 | 1,598 | (525) | |
Total expenditures | 291 | 307 | 578 | 533 | |
Total divestments | 13 | 22 | 129 | 101 | |
Cash flow from operating activities | 2,232 | 1,080 | 3,228 | (103) | |
Refining & Chemicals | Business segments and Corporate | |||||
Business segment information | |||||
Revenues from sales | 26,997 | 11,920 | 51,314 | 35,888 | |
Operating expenses | (25,646) | (10,895) | (48,579) | (35,736) | |
Refining & Chemicals | Intercompany | |||||
Business segment information | |||||
Sales | (6,369) | (2,956) | (11,890) | (9,051) | |
Marketing & Services | |||||
Business segment information | |||||
Sales | 19,367 | 11,986 | 36,880 | 30,661 | |
Excise taxes | (5,191) | (3,699) | (9,890) | (8,342) | |
Depreciation, depletion and impairment of tangible assets and mineral interests | (271) | (229) | (526) | (473) | |
Operating income | 579 | 234 | 1,140 | 312 | |
Net income (loss) from equity affiliates and other items | 57 | 22 | 23 | 32 | |
Tax on net operating income | (176) | (127) | (352) | (159) | |
Net operating income | 460 | 129 | 811 | 185 | |
Total expenditures | 222 | 174 | 360 | 334 | |
Total divestments | 36 | 26 | 107 | 72 | |
Cash flow from operating activities | 437 | 819 | 1,102 | 420 | |
Marketing & Services | Business segments and Corporate | |||||
Business segment information | |||||
Revenues from sales | 14,284 | 8,394 | 27,176 | 22,515 | |
Operating expenses | (13,434) | (7,931) | (25,510) | (21,730) | |
Marketing & Services | Intercompany | |||||
Business segment information | |||||
Sales | (108) | (107) | (186) | (196) | |
Corporate | |||||
Business segment information | |||||
Sales | 6 | 7 | 6 | ||
Depreciation, depletion and impairment of tangible assets and mineral interests | (29) | (22) | (54) | (40) | |
Operating income | (197) | (300) | (353) | (537) | |
Net income (loss) from equity affiliates and other items | 23 | 40 | (5) | 164 | |
Tax on net operating income | 16 | (26) | 54 | 2 | |
Net operating income | (158) | (286) | (304) | (371) | |
Total expenditures | 22 | 21 | 48 | 66 | |
Total divestments | 6 | 9 | 18 | 26 | |
Cash flow from operating activities | (520) | (719) | (1,099) | (1,272) | |
Corporate | Business segments and Corporate | |||||
Business segment information | |||||
Revenues from sales | 39 | 37 | 75 | 65 | |
Operating expenses | (207) | (315) | (374) | (562) | |
Corporate | Intercompany | |||||
Business segment information | |||||
Sales | (39) | (31) | (68) | (59) | |
Adjustments | |||||
Business segment information | |||||
Sales | (9) | (18) | (44) | (16) | |
Revenues from sales | (9) | (18) | (44) | (16) | |
Operating expenses | 380 | (305) | 1,259 | (2,424) | |
Depreciation, depletion and impairment of tangible assets and mineral interests | (16) | (8,291) | (161) | (8,291) | |
Operating income | 355 | (8,614) | 1,054 | (10,731) | |
Net income (loss) from equity affiliates and other items | (1,491) | (342) | (1,655) | (497) | |
Tax on net operating income | (120) | 406 | (311) | 982 | |
Net operating income | (1,256) | (8,550) | (912) | (10,246) | |
Net cost of net debt | 4 | 33 | 10 | (68) | |
Non-controlling interests | (5) | 22 | (14) | 72 | |
Net income - TotalEnergies share | (1,257) | (8,495) | (916) | (10,242) | |
Adjustments | Exploration & Production | |||||
Business segment information | |||||
Depreciation, depletion and impairment of tangible assets and mineral interests | (7,338) | (7,338) | |||
Operating income | (23) | (7,365) | (23) | (7,375) | |
Net income (loss) from equity affiliates and other items | (1,436) | (57) | (1,482) | 71 | |
Tax on net operating income | (12) | 63 | (10) | 70 | |
Net operating income | (1,471) | (7,359) | (1,515) | (7,234) | |
Net income - TotalEnergies share | (1,467) | (7,349) | (1,505) | (7,224) | |
Adjustments | Exploration & Production | Business segments and Corporate | |||||
Business segment information | |||||
Operating expenses | (23) | (27) | (23) | (37) | |
Adjustments | Integrated Gas, Renewables and Power | |||||
Business segment information | |||||
Sales | (9) | (18) | (44) | (16) | |
Depreciation, depletion and impairment of tangible assets and mineral interests | (3) | (953) | (148) | (953) | |
Operating income | (66) | (1,170) | (254) | (1,287) | |
Net income (loss) from equity affiliates and other items | (47) | (217) | (96) | (292) | |
Tax on net operating income | 21 | 330 | 59 | 374 | |
Net operating income | (92) | (1,057) | (291) | (1,205) | |
Net income - TotalEnergies share | (91) | (1,050) | (284) | (1,186) | |
Adjustments | Integrated Gas, Renewables and Power | Business segments and Corporate | |||||
Business segment information | |||||
Revenues from sales | (9) | (18) | (44) | (16) | |
Operating expenses | (54) | (199) | (62) | (318) | |
Adjustments | Refining & Chemicals | |||||
Business segment information | |||||
Depreciation, depletion and impairment of tangible assets and mineral interests | (13) | (13) | |||
Operating income | 373 | (48) | 1,118 | (1,637) | |
Net income (loss) from equity affiliates and other items | 22 | (63) | 28 | (271) | |
Tax on net operating income | (109) | 1 | (302) | 426 | |
Net operating income | 286 | (110) | 844 | (1,482) | |
Net income - TotalEnergies share | 282 | (107) | 833 | (1,475) | |
Adjustments | Refining & Chemicals | Business segments and Corporate | |||||
Business segment information | |||||
Operating expenses | 386 | (48) | 1,131 | (1,637) | |
Adjustments | Marketing & Services | |||||
Business segment information | |||||
Operating income | 71 | 5 | 213 | (341) | |
Net income (loss) from equity affiliates and other items | (8) | (5) | (43) | (5) | |
Tax on net operating income | (20) | (60) | 100 | ||
Net operating income | 43 | 110 | (246) | ||
Net income - TotalEnergies share | 41 | (1) | 100 | (215) | |
Adjustments | Marketing & Services | Business segments and Corporate | |||||
Business segment information | |||||
Operating expenses | 71 | 5 | 213 | (341) | |
Adjustments | Corporate | |||||
Business segment information | |||||
Operating income | (36) | (91) | |||
Net income (loss) from equity affiliates and other items | (22) | (62) | |||
Tax on net operating income | 12 | 2 | 12 | ||
Net operating income | (22) | (24) | (60) | (79) | |
Net income - TotalEnergies share | (22) | 12 | (60) | (142) | |
Adjustments | Corporate | Business segments and Corporate | |||||
Business segment information | |||||
Operating expenses | (36) | (91) | |||
Adjustments - Inventory valuation effect | |||||
Business segment information | |||||
Operating income | 463 | (42) | 1,346 | (1,838) | |
Net income - TotalEnergies share | 375 | (94) | 1,064 | (1,508) | |
Adjustments - Inventory valuation effect | Refining & Chemicals | |||||
Business segment information | |||||
Operating income | 394 | (26) | 1,140 | (1,604) | |
Net operating income | 331 | (86) | 937 | (1,371) | |
Net income - TotalEnergies share | 327 | (83) | 926 | (1,364) | |
Adjustments - Inventory valuation effect | Marketing & Services | |||||
Business segment information | |||||
Operating income | 69 | (16) | 206 | (234) | |
Net operating income | 50 | (9) | 148 | (163) | |
Net income - TotalEnergies share | 48 | (11) | 138 | (144) | |
Adjusted | |||||
Business segment information | |||||
Sales | 47,058 | 25,748 | 90,830 | 69,616 | |
Excise taxes | (5,416) | (4,168) | (10,520) | (9,461) | |
Revenues from sales | 41,642 | 21,580 | 80,310 | 60,155 | |
Operating expenses | (33,939) | (18,155) | (65,263) | (51,188) | |
Depreciation, depletion and impairment of tangible assets and mineral interests | (3,105) | (3,302) | (6,285) | (6,937) | |
Operating income | 4,598 | 123 | 8,762 | 2,030 | |
Net income (loss) from equity affiliates and other items | 870 | 407 | 1,593 | 1,461 | |
Tax on net operating income | (1,572) | 29 | (3,080) | (662) | |
Net operating income | 3,896 | 559 | 7,275 | 2,829 | |
Net cost of net debt | (345) | (464) | (662) | (935) | |
Non-controlling interests | (88) | 31 | (147) | 13 | |
Net income - TotalEnergies share | 3,463 | 126 | 6,466 | 1,907 | |
Adjusted | Intercompany | |||||
Business segment information | |||||
Sales | (15,115) | (6,492) | (28,132) | (18,862) | |
Revenues from sales | (15,115) | (6,492) | (28,132) | (18,862) | |
Operating expenses | 15,115 | 6,492 | 28,132 | 18,862 | |
Adjusted | Exploration & Production | |||||
Business segment information | |||||
Sales | 1,743 | 992 | 3,257 | 2,574 | |
Depreciation, depletion and impairment of tangible assets and mineral interests | (2,134) | (2,329) | (4,317) | (4,973) | |
Operating income | 3,203 | (618) | 6,044 | 251 | |
Net income (loss) from equity affiliates and other items | 193 | 74 | 509 | 369 | |
Tax on net operating income | (1,183) | 335 | (2,365) | (126) | |
Net operating income | 2,213 | (209) | 4,188 | 494 | |
Adjusted | Exploration & Production | Business segments and Corporate | |||||
Business segment information | |||||
Revenues from sales | 9,598 | 4,089 | 17,690 | 11,235 | |
Operating expenses | (4,261) | (2,378) | (7,329) | (6,011) | |
Adjusted | Exploration & Production | Intercompany | |||||
Business segment information | |||||
Sales | (7,855) | (3,097) | (14,433) | (8,661) | |
Adjusted | Integrated Gas, Renewables and Power | |||||
Business segment information | |||||
Sales | 5,095 | 3,331 | 10,632 | 8,419 | |
Depreciation, depletion and impairment of tangible assets and mineral interests | (288) | (329) | (614) | (663) | |
Operating income | 502 | 96 | 1,314 | 571 | |
Net income (loss) from equity affiliates and other items | 466 | 238 | 778 | 712 | |
Tax on net operating income | (77) | (8) | (216) | (44) | |
Net operating income | 891 | 326 | 1,876 | 1,239 | |
Adjusted | Integrated Gas, Renewables and Power | Business segments and Corporate | |||||
Business segment information | |||||
Revenues from sales | 5,839 | 3,632 | 12,187 | 9,314 | |
Operating expenses | (5,049) | (3,207) | (10,259) | (8,080) | |
Adjusted | Integrated Gas, Renewables and Power | Intercompany | |||||
Business segment information | |||||
Sales | (744) | (301) | (1,555) | (895) | |
Adjusted | Refining & Chemicals | |||||
Business segment information | |||||
Sales | 20,853 | 9,433 | 40,054 | 27,956 | |
Excise taxes | (225) | (469) | (630) | (1,119) | |
Depreciation, depletion and impairment of tangible assets and mineral interests | (383) | (393) | (774) | (788) | |
Operating income | 582 | 680 | 830 | 1,001 | |
Net income (loss) from equity affiliates and other items | 101 | 28 | 183 | 179 | |
Tax on net operating income | (172) | (133) | (259) | (223) | |
Net operating income | 511 | 575 | 754 | 957 | |
Adjusted | Refining & Chemicals | Business segments and Corporate | |||||
Business segment information | |||||
Revenues from sales | 26,997 | 11,920 | 51,314 | 35,888 | |
Operating expenses | (26,032) | (10,847) | (49,710) | (34,099) | |
Adjusted | Refining & Chemicals | Intercompany | |||||
Business segment information | |||||
Sales | (6,369) | (2,956) | (11,890) | (9,051) | |
Adjusted | Marketing & Services | |||||
Business segment information | |||||
Sales | 19,367 | 11,986 | 36,880 | 30,661 | |
Excise taxes | (5,191) | (3,699) | (9,890) | (8,342) | |
Depreciation, depletion and impairment of tangible assets and mineral interests | (271) | (229) | (526) | (473) | |
Operating income | 508 | 229 | 927 | 653 | |
Net income (loss) from equity affiliates and other items | 65 | 27 | 66 | 37 | |
Tax on net operating income | (156) | (127) | (292) | (259) | |
Net operating income | 417 | 129 | 701 | 431 | |
Adjusted | Marketing & Services | Business segments and Corporate | |||||
Business segment information | |||||
Revenues from sales | 14,284 | 8,394 | 27,176 | 22,515 | |
Operating expenses | (13,505) | (7,936) | (25,723) | (21,389) | |
Adjusted | Marketing & Services | Intercompany | |||||
Business segment information | |||||
Sales | (108) | (107) | (186) | (196) | |
Adjusted | Corporate | |||||
Business segment information | |||||
Sales | 6 | 7 | 6 | ||
Depreciation, depletion and impairment of tangible assets and mineral interests | (29) | (22) | (54) | (40) | |
Operating income | (197) | (264) | (353) | (446) | |
Net income (loss) from equity affiliates and other items | 45 | 40 | 57 | 164 | |
Tax on net operating income | 16 | (38) | 52 | (10) | |
Net operating income | (136) | (262) | (244) | (292) | |
Adjusted | Corporate | Business segments and Corporate | |||||
Business segment information | |||||
Revenues from sales | 39 | 37 | 75 | 65 | |
Operating expenses | (207) | (279) | (374) | (471) | |
Adjusted | Corporate | Intercompany | |||||
Business segment information | |||||
Sales | $ (39) | $ (31) | $ (68) | $ (59) |
Business segment information _2
Business segment information - Reconciliation with consolidated financial statements (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Dec. 31, 2020 | Jun. 30, 2020 | |
Business segment information | ||||||
Sales | $ 47,049 | $ 43,737 | $ 25,730 | $ 90,786 | $ 69,600 | |
Excise taxes | (5,416) | (5,104) | (4,168) | (10,520) | (9,461) | |
Revenues from sales | 41,633 | 38,633 | 21,562 | 80,266 | 60,139 | |
Purchases, net of inventory variation | (26,719) | (23,398) | (12,025) | (50,117) | (40,093) | |
Other operating expenses | (6,717) | (6,880) | (6,321) | (13,597) | (13,265) | |
Exploration costs | (123) | (167) | (114) | (290) | (254) | |
Depreciation, depletion and impairment of tangible assets and mineral interests | (3,121) | (3,325) | (11,593) | (6,446) | (15,228) | |
Other income | 223 | 358 | 362 | 581 | 942 | |
Other expense | (298) | (659) | (108) | (957) | (528) | |
Financial interest on debt | (501) | (466) | (530) | (967) | (1,099) | |
Financial income and expense from cash & cash equivalents | 77 | 95 | 50 | 172 | (105) | |
Cost of net debt | (424) | (371) | (480) | (795) | (1,204) | |
Other financial income | 265 | 109 | 419 | 374 | 607 | |
Other financial expense | (131) | (130) | (161) | (261) | (342) | |
Net income (loss) from equity affiliates | (680) | 881 | (447) | 201 | 285 | |
Income taxes | (1,609) | (1,639) | 484 | (3,248) | 521 | |
Consolidated net income | 2,299 | 3,412 | (8,422) | 5,711 | $ 1,084 | (8,420) |
TotalEnergies share | 2,206 | 3,344 | (8,369) | 5,550 | (8,335) | |
Non-controlling interests | 93 | $ 68 | (53) | 161 | (85) | |
Adjusted | ||||||
Business segment information | ||||||
Sales | 47,058 | 25,748 | 90,830 | 69,616 | ||
Excise taxes | (5,416) | (4,168) | (10,520) | (9,461) | ||
Revenues from sales | 41,642 | 21,580 | 80,310 | 60,155 | ||
Purchases, net of inventory variation | (27,108) | (11,842) | (51,397) | (37,949) | ||
Other operating expenses | (6,708) | (6,199) | (13,576) | (12,985) | ||
Exploration costs | (123) | (114) | (290) | (254) | ||
Depreciation, depletion and impairment of tangible assets and mineral interests | (3,105) | (3,302) | (6,285) | (6,937) | ||
Other income | 138 | 240 | 554 | 820 | ||
Other expense | (142) | (103) | (334) | (294) | ||
Financial interest on debt | (501) | (527) | (967) | (1,094) | ||
Financial income and expense from cash & cash equivalents | 69 | (3) | 156 | (13) | ||
Cost of net debt | (432) | (530) | (811) | (1,107) | ||
Other financial income | 265 | 419 | 374 | 607 | ||
Other financial expense | (131) | (160) | (261) | (341) | ||
Net income (loss) from equity affiliates | 740 | 11 | 1,260 | 669 | ||
Income taxes | (1,485) | 95 | (2,931) | (490) | ||
Consolidated net income | 3,551 | 95 | 6,613 | 1,894 | ||
TotalEnergies share | 3,463 | 126 | 6,466 | 1,907 | ||
Non-controlling interests | 88 | (31) | 147 | (13) | ||
Adjustments | ||||||
Business segment information | ||||||
Sales | (9) | (18) | (44) | (16) | ||
Revenues from sales | (9) | (18) | (44) | (16) | ||
Purchases, net of inventory variation | 389 | (183) | 1,280 | (2,144) | ||
Other operating expenses | (9) | (122) | (21) | (280) | ||
Depreciation, depletion and impairment of tangible assets and mineral interests | (16) | (8,291) | (161) | (8,291) | ||
Other income | 85 | 122 | 27 | 122 | ||
Other expense | (156) | (5) | (623) | (234) | ||
Financial interest on debt | (3) | (5) | ||||
Financial income and expense from cash & cash equivalents | 8 | 53 | 16 | (92) | ||
Cost of net debt | 8 | 50 | 16 | (97) | ||
Other financial expense | (1) | (1) | ||||
Net income (loss) from equity affiliates | (1,420) | (458) | (1,059) | (384) | ||
Income taxes | (124) | 389 | (317) | 1,011 | ||
Consolidated net income | (1,252) | (8,517) | (902) | (10,314) | ||
TotalEnergies share | (1,257) | (8,495) | (916) | (10,242) | ||
Non-controlling interests | $ 5 | $ (22) | $ 14 | $ (72) |
Business segment information _3
Business segment information - Adjustment items (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 | |
Business segment information | |||||
Operating income | $ 4,953 | $ (8,491) | $ 9,816 | $ (8,701) | |
Net income - TotalEnergies share | 2,206 | $ 3,344 | (8,369) | 5,550 | (8,335) |
Adjustments | |||||
Business segment information | |||||
Operating income | 355 | (8,614) | 1,054 | (10,731) | |
Net income - TotalEnergies share | (1,257) | (8,495) | (916) | (10,242) | |
Adjustments - Inventory valuation effect | |||||
Business segment information | |||||
Operating income | 463 | (42) | 1,346 | (1,838) | |
Net income - TotalEnergies share | 375 | (94) | 1,064 | (1,508) | |
Adjustments - Effect of changes in fair value | |||||
Business segment information | |||||
Operating income | (49) | (100) | (58) | (98) | |
Net income - TotalEnergies share | (44) | (80) | (50) | (79) | |
Adjustments - Restructuring charges | |||||
Business segment information | |||||
Operating income | (9) | (17) | (18) | (35) | |
Net income - TotalEnergies share | (110) | (20) | (271) | (100) | |
Adjustments - Asset impairment charges | |||||
Business segment information | |||||
Operating income | (16) | (8,291) | (161) | (8,291) | |
Net income - TotalEnergies share | (49) | (8,101) | (193) | (8,101) | |
Adjustments - Gains (losses) on disposals of assets | |||||
Business segment information | |||||
Net income - TotalEnergies share | (1,379) | (1,379) | |||
Adjustments - Other items | |||||
Business segment information | |||||
Operating income | (34) | (164) | (55) | (469) | |
Net income - TotalEnergies share | (50) | (200) | (87) | (454) | |
Exploration & Production | |||||
Business segment information | |||||
Operating income | 3,180 | (7,983) | 6,021 | (7,124) | |
Exploration & Production | Adjustments | |||||
Business segment information | |||||
Operating income | (23) | (7,365) | (23) | (7,375) | |
Net income - TotalEnergies share | (1,467) | (7,349) | (1,505) | (7,224) | |
Exploration & Production | Adjustments - Restructuring charges | |||||
Business segment information | |||||
Operating income | (10) | ||||
Net income - TotalEnergies share | (44) | (85) | (3) | ||
Exploration & Production | Adjustments - Asset impairment charges | |||||
Business segment information | |||||
Operating income | (7,338) | (7,338) | |||
Net income - TotalEnergies share | (7,272) | (7,272) | |||
Exploration & Production | Adjustments - Gains (losses) on disposals of assets | |||||
Business segment information | |||||
Net income - TotalEnergies share | (1,379) | (1,379) | |||
Exploration & Production | Adjustments - Other items | |||||
Business segment information | |||||
Operating income | (23) | (27) | (23) | (27) | |
Net income - TotalEnergies share | (44) | (77) | (41) | 51 | |
Integrated Gas, Renewables and Power | |||||
Business segment information | |||||
Operating income | 436 | (1,074) | 1,060 | (716) | |
Integrated Gas, Renewables and Power | Adjustments | |||||
Business segment information | |||||
Operating income | (66) | (1,170) | (254) | (1,287) | |
Net income - TotalEnergies share | (91) | (1,050) | (284) | (1,186) | |
Integrated Gas, Renewables and Power | Adjustments - Effect of changes in fair value | |||||
Business segment information | |||||
Operating income | (49) | (100) | (58) | (98) | |
Net income - TotalEnergies share | (44) | (80) | (50) | (79) | |
Integrated Gas, Renewables and Power | Adjustments - Restructuring charges | |||||
Business segment information | |||||
Operating income | (1) | (10) | (10) | (18) | |
Net income - TotalEnergies share | (4) | (10) | (12) | (22) | |
Integrated Gas, Renewables and Power | Adjustments - Asset impairment charges | |||||
Business segment information | |||||
Operating income | (3) | (953) | (148) | (953) | |
Net income - TotalEnergies share | (36) | (829) | (180) | (829) | |
Integrated Gas, Renewables and Power | Adjustments - Other items | |||||
Business segment information | |||||
Operating income | (13) | (107) | (38) | (218) | |
Net income - TotalEnergies share | (7) | (131) | (42) | (256) | |
Refining & Chemicals | |||||
Business segment information | |||||
Operating income | 955 | 632 | 1,948 | (636) | |
Refining & Chemicals | Adjustments | |||||
Business segment information | |||||
Operating income | 373 | (48) | 1,118 | (1,637) | |
Net income - TotalEnergies share | 282 | (107) | 833 | (1,475) | |
Refining & Chemicals | Adjustments - Inventory valuation effect | |||||
Business segment information | |||||
Operating income | 394 | (26) | 1,140 | (1,604) | |
Net income - TotalEnergies share | 327 | (83) | 926 | (1,364) | |
Refining & Chemicals | Adjustments - Restructuring charges | |||||
Business segment information | |||||
Operating income | (8) | (7) | (8) | (7) | |
Net income - TotalEnergies share | (32) | (10) | (71) | (75) | |
Refining & Chemicals | Adjustments - Asset impairment charges | |||||
Business segment information | |||||
Operating income | (13) | (13) | |||
Net income - TotalEnergies share | (13) | (13) | |||
Refining & Chemicals | Adjustments - Other items | |||||
Business segment information | |||||
Operating income | (15) | (1) | (26) | ||
Net income - TotalEnergies share | (14) | (9) | (36) | ||
Marketing & Services | |||||
Business segment information | |||||
Operating income | 579 | 234 | 1,140 | 312 | |
Marketing & Services | Adjustments | |||||
Business segment information | |||||
Operating income | 71 | 5 | 213 | (341) | |
Net income - TotalEnergies share | 41 | (1) | 100 | (215) | |
Marketing & Services | Adjustments - Inventory valuation effect | |||||
Business segment information | |||||
Operating income | 69 | (16) | 206 | (234) | |
Net income - TotalEnergies share | 48 | (11) | 138 | (144) | |
Marketing & Services | Adjustments - Restructuring charges | |||||
Business segment information | |||||
Net income - TotalEnergies share | (8) | (43) | |||
Marketing & Services | Adjustments - Other items | |||||
Business segment information | |||||
Operating income | 2 | 21 | 7 | (107) | |
Net income - TotalEnergies share | 1 | 10 | 5 | (71) | |
Corporate | |||||
Business segment information | |||||
Operating income | (197) | (300) | (353) | (537) | |
Corporate | Adjustments | |||||
Business segment information | |||||
Operating income | (36) | (91) | |||
Net income - TotalEnergies share | (22) | 12 | (60) | (142) | |
Corporate | Adjustments - Restructuring charges | |||||
Business segment information | |||||
Net income - TotalEnergies share | $ (22) | $ (60) | |||
Corporate | Adjustments - Other items | |||||
Business segment information | |||||
Operating income | (36) | (91) | |||
Net income - TotalEnergies share | $ 12 | $ (142) |
Shareholders' equity - Treasury
Shareholders' equity - Treasury shares (Details) - TOTALEnergies SE | Jun. 30, 2021shares |
Treasury shares | 174,425 |
2019 Plan | |
Shares to be allocated as part of performance share grant plans | 99,750 |
Other Plans | |
Shares to be allocated as part of performance share grant plans | 74,675 |
Shareholders' equity - Dividend
Shareholders' equity - Dividend (Details) - € / shares | Jul. 28, 2021 | Jul. 01, 2021 | May 28, 2021 | Apr. 28, 2021 | Apr. 01, 2021 | Jan. 11, 2021 | Oct. 02, 2020 |
Dividend | |||||||
Dividend approved for the 2020 fiscal year (in Euros per share) | € 2.64 | ||||||
First interim | |||||||
Dividend | |||||||
Dividend paid (in Euros per share) | € 0.66 | ||||||
Interim dividend set by Board of Directors (in Euros per share) | € 0.66 | ||||||
Second interim | |||||||
Dividend | |||||||
Dividend paid (in Euros per share) | € 0.66 | ||||||
Interim dividend set by Board of Directors (in Euros per share) | € 0.66 | ||||||
Third interim | |||||||
Dividend | |||||||
Dividend paid (in Euros per share) | € 0.66 | ||||||
Final | |||||||
Dividend | |||||||
Dividend paid (in Euros per share) | € 0.66 |
Shareholders' equity - Earnings
Shareholders' equity - Earnings per share (Details) | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2021$ / shares | Jun. 30, 2021€ / shares | Mar. 31, 2021$ / shares | Mar. 31, 2021€ / shares | Jun. 30, 2020$ / shares | Jun. 30, 2020€ / shares | Jun. 30, 2021$ / shares | Jun. 30, 2020$ / shares | |
Earnings per share in euros | ||||||||
Earnings per share (in dollars or Euros per share) | (per share) | $ 0.80 | € 0.66 | $ 1.24 | € 1.03 | $ (3.27) | € (2.98) | $ 2.04 | $ (3.29) |
Diluted earnings per share (in dollars or Euros per share) | (per share) | $ 0.80 | € 0.66 | $ 1.23 | € 1.02 | $ (3.27) | € (2.98) | $ 2.03 | $ (3.29) |
Shareholders' equity - Perpetua
Shareholders' equity - Perpetual subordinated notes (Details) € in Millions | Feb. 26, 2021EUR (€)item | Jan. 31, 2021EUR (€) | Sep. 30, 2020EUR (€) | Apr. 30, 2019EUR (€) |
Perpetual subordinated notes issued, 1.625%, callable in January 2028, or in anticipation in October 2027 | ||||
Shareholders' equity | ||||
Interest rate (as percent) | 1.625% | |||
Principal amount | € 1,500 | |||
Perpetual subordinated notes issued, 2.125%, callable in January 2033, or in anticipation in July 2032 | ||||
Shareholders' equity | ||||
Interest rate (as percent) | 2.125% | |||
Principal amount | € 1,500 | |||
Perpetual subordinated notes issued, 2.250% Callable from February 2021 | ||||
Shareholders' equity | ||||
Number of tender | item | 2 | |||
Interest rate (as percent) | 2.25% | |||
Principal amount | € 703 | € 1,500 | ||
Reimbursement of residual amount | € 297 |
Shareholders' equity - Other co
Shareholders' equity - Other comprehensive income (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Dec. 31, 2020 | Jun. 30, 2020 | |
Shareholders' equity | ||||||
Actuarial gains and losses | $ 449 | $ (356) | $ 449 | $ (223) | ||
Change in fair value of investments in equity instruments | 56 | $ 12 | 90 | 68 | (74) | |
Tax effect | (142) | (12) | 101 | (154) | 86 | |
Currency translation adjustment generated by the parent company | 1,239 | (4,173) | 1,780 | (2,934) | (196) | |
Items not potentially reclassifiable to profit and loss | 1,602 | (4,173) | 1,615 | (2,571) | (407) | |
Currency translation adjustment | (746) | 2,523 | (919) | 1,777 | (940) | |
Unrealized gain/(loss) of the period | 1,898 | (907) | ||||
Less gain/(loss) included in net income | 121 | 33 | ||||
Cash flow hedge | (424) | 504 | 231 | 80 | (1,293) | |
Unrealized gain/(loss) of the period | (56) | (1,317) | ||||
Less gain/(loss) included in net income | (136) | (24) | ||||
Variation of foreign currency basis spread | (4) | 14 | (4) | 70 | ||
unrealized gain/(loss) of the period | (29) | 42 | ||||
less gain/(loss) included in net income | (25) | (28) | ||||
Share of other comprehensive income of equity affiliates, net amount | (18) | 469 | 296 | 451 | (927) | |
Unrealized gain/(loss) of the period | 449 | (936) | ||||
Less gain/(loss) included in net income | (2) | (9) | ||||
Other | (1) | 1 | 3 | |||
Tax effect | 100 | (157) | (78) | (57) | 367 | |
Sub-total items potentially reclassifiable to profit and loss | (1,093) | 3,340 | (456) | 2,247 | (2,720) | |
Total other comprehensive income, net amount | $ 509 | $ (833) | $ 1,159 | $ (324) | $ 4,357 | $ (3,127) |
Shareholders' equity - Tax effe
Shareholders' equity - Tax effects of other comprehensive income (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Dec. 31, 2020 | Jun. 30, 2020 | |
Pre-tax amount | ||||||
Actuarial gains and losses | $ 449 | $ (356) | $ 449 | $ (223) | ||
Change in fair value of investments in equity instruments | 56 | $ 12 | 90 | 68 | (74) | |
Currency translation adjustment generated by the parent company | 1,239 | (4,173) | 1,780 | (2,934) | (196) | |
Sub-total items not potentially reclassifiable to profit and loss | (2,417) | (493) | ||||
Currency translation adjustment | (746) | 2,523 | (919) | 1,777 | (940) | |
Cash flow hedge | (424) | 504 | 231 | 80 | (1,293) | |
Variation of foreign currency basis spread | (4) | 14 | (4) | 70 | ||
Share of other comprehensive income of equity affiliates, net amount | 451 | (927) | ||||
Other | (1) | 1 | 3 | |||
Sub-total items potentially reclassifiable to profit and loss | 2,304 | (3,087) | ||||
Total other comprehensive income | (113) | (3,580) | ||||
Tax effect | ||||||
Actuarial gains and losses | (141) | 56 | ||||
Change in fair value of investments in equity instruments | (13) | 30 | ||||
Sub-total items not potentially reclassifiable to profit and loss | (142) | (12) | 101 | (154) | 86 | |
Cash flow hedge | (55) | 389 | ||||
Variation of foreign currency basis spread | (2) | (22) | ||||
Sub-total items potential reclassifiable to profit and loss | 100 | (157) | (78) | (57) | 367 | |
Total other comprehensive income | (211) | 453 | ||||
Net amount | ||||||
Actuarial gains and losses | 308 | (167) | ||||
Change in fair value of investments in equity instruments | 55 | (44) | ||||
Currency translation adjustment generated by the parent company | 1,239 | (4,173) | 1,780 | (2,934) | (196) | |
Items not potentially reclassifiable to profit and loss | 1,602 | (4,173) | 1,615 | (2,571) | (407) | |
Currency translation adjustment | 1,777 | (940) | ||||
Cash flow hedge | 25 | (904) | ||||
Variation of foreign currency basis spread | (6) | 48 | ||||
Share of other comprehensive income of equity affiliates, net amount | (18) | 469 | 296 | 451 | (927) | |
Other | 3 | |||||
Items potentially reclassifiable to profit and loss | (1,093) | 3,340 | (456) | 2,247 | (2,720) | |
Total other comprehensive income (net amount) | $ 509 | $ (833) | $ 1,159 | $ (324) | $ 4,357 | $ (3,127) |
Financial debt (Details)
Financial debt (Details) - USD ($) $ in Millions | Apr. 01, 2021 | Apr. 02, 2020 | Jun. 30, 2021 |
Bond 4.125% issued in 2011 and maturing in January 2021 | |||
Financial debt | |||
Interest rate (as percent) | 4.125% | ||
Amount of bonds reimbursed | $ 500 | ||
Bond 2.750% issued in 2014 and maturing in June 2021 | |||
Financial debt | |||
Interest rate (as percent) | 2.75% | ||
Amount of bonds reimbursed | $ 1,000 | ||
Syndicated credit line | |||
Financial debt | |||
Committed credit facilities granted by banks | $ 6,350 | ||
Borrowings term | 12 months | ||
Borrowings, period of extension option | 6 months | ||
Reimbursement of borrowing | $ 2,646 |
Other risks and contingent li_2
Other risks and contingent liabilities (Details) | 6 Months Ended |
Jun. 30, 2021 | |
Yemen LNG Company Limited | |
Disclosure of contingent liabilities | |
Stake held in associate (as a percent) | 39.62% |
Subsequent events (Details)
Subsequent events (Details) | Jul. 09, 2021 |
Petrocedeno | |
Subsequent events | |
Proportion of ownership interest in associate | 30.323% |