TotalEnergies SE (TTE) 6-K 25 Jul 19 2019 H1 Current report (foreign) Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 30, 2019
Document and Entity Information [Abstract]
Entity Registrant Name	TOTAL S.A.
Entity Central Index Key	0000879764
Document Type	6-K
Document Period End Date	Jun. 30, 2019
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	H1

Consolidated statement of incom

Consolidated statement of income $ in Millions	3 Months Ended						6 Months Ended
	Jun. 30, 2019€ / shares	Jun. 30, 2019USD ($)$ / shares	Mar. 31, 2019€ / shares	Mar. 31, 2019USD ($)$ / shares	Jun. 30, 2018€ / shares	Jun. 30, 2018USD ($)$ / shares	Jun. 30, 2019USD ($)$ / shares	Dec. 31, 2018USD ($)	Jun. 30, 2018USD ($)$ / shares
Consolidated statement of income
Sales		$ 51,242		$ 51,205		$ 52,540	$ 102,447		$ 102,151
Excise taxes		(6,040)		(6,081)		(6,438)	(12,121)		(12,757)
Revenues from sales		45,202		45,124		46,102	90,326		89,394
Purchases, net of inventory variation		(30,390)		(29,721)		(30,599)	(60,111)		(60,045)
Other operating expenses		(7,078)		(6,725)		(6,761)	(13,803)		(13,698)
Exploration costs		(170)		(288)		(158)	(458)		(362)
Depreciation, depletion and impairment of tangible assets and mineral interests		(3,661)		(3,466)		(3,435)	(7,127)		(6,351)
Other income		321		247		252	568		775
Other expense		(189)		(209)		(413)	(398)		(603)
Financial interest on debt		(568)		(561)		(478)	(1,129)		(868)
Financial income and expense from cash & cash equivalents		(42)		(28)		(54)	(70)		(95)
Cost of net debt		(610)		(589)		(532)	(1,199)		(963)
Other financial income		326		160		321	486		561
Other financial expense		(188)		(195)		(159)	(383)		(329)
Net income (loss) from equity affiliates		812		711		1,103	1,523		1,587
Income taxes		(1,571)		(1,909)		(2,087)	(3,480)		(3,683)
Consolidated net income		2,804		3,140		3,634	5,944	$ 5,267	6,283
Group share		2,756		3,111		3,721	5,867		6,357
Non-controlling interests		$ 48		$ 29		$ (87)	$ 77		$ (74)
Earnings per share (in dollars or Euros per share) | (per share)	€ 0.89	$ 1.01	€ 1.03	$ 1.17	€ 1.16	$ 1.38	$ 2.17		$ 2.39
Fully-diluted earnings per share (in dollars or Euros per share) | (per share)	€ 0.89	$ 1	€ 1.02	$ 1.16	€ 1.16	$ 1.38	$ 2.16		$ 2.38

Consolidated statement of compr

Consolidated statement of comprehensive income - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Consolidated statement of comprehensive income
Consolidated net income	$ 2,804	$ 3,140	$ 3,634	$ 5,944	$ 6,283
Other comprehensive income
Actuarial gains and losses	(223)	164	42	(59)	67
Change in fair value of investments in equity instruments	74	33	(2)	107	5
Tax effect	59	(45)	(20)	14	(18)
Currency translation adjustment generated by the parent company	1,057	(1,531)	(4,761)	(474)	(2,630)
Items not potentially reclassifiable to profit and loss	967	(1,379)	(4,741)	(412)	(2,576)
Currency translation adjustment	(619)	806	1,330	187	968
Cash flow hedge	(246)	(127)	77	(373)	255
Variation of foreign currency basis spread	43	11	2	54	(27)
Share of other comprehensive income of equity affiliates, net amount	(135)	388	36	253	(132)
Other	1	1	(2)	2	(2)
Tax effect	69	38	(27)	107	(75)
Items potentially reclassifiable to profit and loss	(887)	1,117	1,416	230	987
Total other comprehensive income (net amount)	80	(262)	(3,325)	(182)	(1,589)
Comprehensive income	2,884	2,878	309	5,762	4,694
Group share	2,797	2,840	450	5,637	4,806
Non-controlling interests	$ 87	$ 38	$ (141)	$ 125	$ (112)

Consolidated balance sheet

Consolidated balance sheet - USD ($) $ in Millions	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Jun. 30, 2018
Non-current assets
Intangible assets, net	$ 29,229	$ 28,727	$ 28,922	$ 24,562
Property, plant and equipment, net	118,063	117,881	113,324	114,047
Equity affiliates: investments and loans	26,473	25,996	23,444	22,443
Other investments	1,660	1,468	1,421	1,396
Non-current financial assets	771	637	680	967
Deferred income taxes	6,022	6,246	6,663	5,348
Other non-current assets	2,306	2,156	2,509	3,384
Total non-current assets	184,524	183,111	176,963	172,147
Current assets
Inventories, net	16,410	17,075	14,880	18,392
Accounts receivable, net	20,349	19,321	17,270	16,974
Other current assets	15,958	16,237	14,724	14,408
Current financial assets	3,536	3,373	3,654	3,609
Cash and cash equivalents	26,723	25,432	27,907	26,475
Assets classified as held for sale		314	1,364
Total current assets	82,976	81,752	79,799	79,858
Total assets	267,500	264,863	256,762	252,005
Shareholders' equity
Common shares	8,301	8,231	8,227	8,305
Paid-in surplus and retained earnings	123,351	123,702	120,569	121,896
Currency translation adjustment	(11,177)	(11,606)	(11,313)	(9,764)
Treasury shares	(3,613)	(2,334)	(1,843)	(2,462)
Total shareholders' equity - Group share	116,862	117,993	115,640	117,975
Non-controlling interests	2,362	2,365	2,474	2,288
Total shareholders' equity	119,224	120,358	118,114	120,263
Non-current liabilities
Deferred income taxes	11,486	11,339	11,490	11,969
Employee benefits	3,375	3,150	3,363	3,329
Provisions and other non-current liabilities	21,629	21,020	21,432	18,807
Non-current financial debt	45,394	44,396	40,129	38,362
Total non-current liabilities	81,884	79,905	76,414	72,467
Current liabilities
Accounts payable	27,059	26,416	26,134	25,021
Other creditors and accrued liabilities	22,686	23,361	22,246	17,792
Current borrowings	16,221	13,906	13,306	15,659
Other current financial liabilities	426	651	478	803
Liabilities directly associated with the assets classified as held for sale		266	70
Total current liabilities	66,392	64,600	62,234	59,275
Total liabilities & shareholders' equity	$ 267,500	$ 264,863	$ 256,762	$ 252,005

Consolidated statement of cash

Consolidated statement of cash flow - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
CASH FLOW FROM OPERATING ACTIVITIES
Consolidated net income	$ 2,804	$ 3,140	$ 3,634	$ 5,944	$ 6,283
Depreciation, depletion, amortization and impairment	3,819	3,716	3,508	7,535	6,554
Non-current liabilities, valuation allowances, and deferred taxes	239	140	35	379	149
(Gains) losses on disposals of assets	(191)	(173)	(148)	(364)	(273)
Undistributed affiliates' equity earnings	(168)	(306)	(298)	(474)	(557)
(Increase) decrease in working capital	(317)	(2,970)	(856)	(3,287)	(4,078)
Other changes, net	65	82	371	147	249
Cash flow from operating activities	6,251	3,629	6,246	9,880	8,327
CASH FLOW USED IN INVESTING ACTIVITIES
Intangible assets and property, plant and equipment additions	(2,881)	(2,704)	(3,513)	(5,585)	(9,178)
Acquisitions of subsidiaries, net of cash acquired	(208)		12	(208)	(714)
Investments in equity affiliates and other securities	(437)	(753)	(146)	(1,190)	(308)
Increase in non-current loans	(370)	(130)	(140)	(500)	(311)
Total expenditures	(3,896)	(3,587)	(3,787)	(7,483)	(10,511)
Proceeds from disposals of intangible assets and property, plant and equipment	155	8	304	163	2,282
Proceeds from disposals of subsidiaries, net of cash sold	(1)	147	(7)	146	(4)
Proceeds from disposals of non-current investments	58	208	396	266	584
Repayment of non-current loans	353	134	581	487	997
Total divestments	565	497	1,274	1,062	3,859
Cash flow used in investing activities	(3,331)	(3,090)	(2,513)	(6,421)	(6,652)
CASH FLOW FROM FINANCING ACTIVITIES
Issuance (repayment) of shares: Parent company shareholders	449	1	473	450	482
Issuance (repayment) of shares: Treasury shares	(1,279)	(491)	(1,182)	(1,770)	(1,740)
Dividends paid: Parent company shareholders	(2,935)	(1,830)	(2,692)	(4,765)	(4,208)
Dividends paid: Non-controlling interests	(93)		(72)	(93)	(84)
Payments on perpetual subordinated notes	(175)	(140)	(116)	(315)	(266)
Other transactions with non-controlling interests		(150)		(150)
Net issuance (repayment) of non-current debt	2,331	1,250	52	3,581	(2,428)
Increase (decrease) in current borrowings	37	(1,526)	(738)	(1,489)	969
Increase (decrease) in current financial assets and liabilities	(164)	106	(1,779)	(58)	(624)
Cash flow used in financing activities	(1,829)	(2,780)	(6,054)	(4,609)	(7,899)
Net increase (decrease) in cash and cash equivalents	1,091	(2,241)	(2,321)	(1,150)	(6,224)
Effect of exchange rates	200	(234)	(1,296)	(34)	(486)
Cash and cash equivalents at the beginning of the period	25,432	27,907	30,092	27,907	33,185
Cash and cash equivalents at the end of the period	$ 26,723	$ 25,432	$ 26,475	$ 26,723	$ 26,475

Consolidated statement of chang

Consolidated statement of changes in shareholders' equity - USD ($) $ in Millions		Shareholders' equity - Group 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, 2017		$ 111,556	$ 7,882	$ 112,040	$ (7,908)	$ (458)	$ 2,481	$ 114,037
Common shares issued as of the beginning of the period at Dec. 31, 2017			2,528,989,616			(8,376,756)
Net income		6,357		6,357			(74)	6,283
Other comprehensive income		(1,551)		305	(1,856)		(38)	(1,589)
Comprehensive income		4,806		6,662	(1,856)		(112)	4,694
Dividend		(4,070)		(4,070)			(84)	(4,154)
Issuance of common shares		7,693	$ 423	7,270				7,693
Issuance of common shares (in shares)			136,887,716
Purchase of treasury shares		(2,004)				$ (2,004)		(2,004)
Purchase of treasury shares (in shares)						(33,056,514)
Sale of treasury shares (in shares)	[1]					3,450
Share-based payments		192		192				192
Payments on perpetual subordinated notes		(161)		(161)				(161)
Other operations with non-controlling interests		(4)		(4)			4
Other items		(33)		(33)			(1)	(34)
Equity as of the end of the period at Jun. 30, 2018		117,975	$ 8,305	121,896	(9,764)	$ (2,462)	2,288	120,263
Common shares issued as of the end of the period at Jun. 30, 2018			2,665,877,332			(41,429,820)
Net income		5,089		5,089			178	5,267
Other comprehensive income		(1,874)		(325)	(1,549)		(31)	(1,905)
Comprehensive income		3,215		4,764	(1,549)		147	3,362
Dividend		(3,811)		(3,811)			(13)	(3,824)
Issuance of common shares		1,149	$ 53	1,096				1,149
Issuance of common shares (in shares)			19,315,374
Purchase of treasury shares		(2,324)				$ (2,324)		(2,324)
Purchase of treasury shares (in shares)						(39,709,967)
Sale of treasury shares	[1]			(240)		$ 240
Sale of treasury shares (in shares)	[1]					4,075,807
Share-based payments		102		102				102
Share cancellation			$ (131)	(2,572)		$ 2,703
Share cancellation (in shares)			(44,590,699)			44,590,699
Payments on perpetual subordinated notes		(154)		(154)				(154)
Other operations with non-controlling interests		(513)		(513)			(103)	(616)
Other items		1		1			155	156
Equity as of the end of the period at Dec. 31, 2018		115,640	$ 8,227	120,569	(11,313)	$ (1,843)	2,474	118,114
Common shares issued as of the end of the period at Dec. 31, 2018			2,640,602,007			(32,473,281)
Net income								3,140
Other comprehensive income								(262)
Comprehensive income								2,878
Equity as of the end of the period at Mar. 31, 2019								120,358
Equity as of the beginning of the period at Dec. 31, 2018		115,640	$ 8,227	120,569	(11,313)	$ (1,843)	2,474	118,114
Common shares issued as of the beginning of the period at Dec. 31, 2018			2,640,602,007			(32,473,281)
Net income		5,867		5,867			77	5,944
Other comprehensive income		(230)		(366)	136		48	(182)
Comprehensive income		5,637		5,501	136		125	5,762
Dividend		(3,875)		(3,875)			(93)	(3,968)
Issuance of common shares		1,345	$ 74	1,271				1,345
Issuance of common shares (in shares)			26,281,753
Purchase of treasury shares		(1,770)				$ (1,770)		(1,770)
Purchase of treasury shares (in shares)						(32,331,446)
Sale of treasury shares (in shares)	[1]					4,010
Share-based payments		103		103				103
Net issuance (repayment) of perpetual subordinated notes		(5)		(5)				(5)
Payments on perpetual subordinated notes		(207)		(207)				(207)
Other operations with non-controlling interests							(150)	(150)
Other items		(6)		(6)			6
Equity as of the end of the period at Jun. 30, 2019		116,862	$ 8,301	123,351	(11,177)	$ (3,613)	2,362	119,224
Common shares issued as of the end of the period at Jun. 30, 2019			2,666,883,760			(64,800,717)
Equity as of the beginning of the period at Mar. 31, 2019								120,358
Net income								2,804
Other comprehensive income								80
Comprehensive income								2,884
Equity as of the end of the period at Jun. 30, 2019		$ 116,862	$ 8,301	$ 123,351	$ (11,177)	$ (3,613)	$ 2,362	$ 119,224
Common shares issued as of the end of the period at Jun. 30, 2019			2,666,883,760			(64,800,717)
[1]	Treasury shares related to the restricted stock grants.

Accounting policies

Accounting policies	6 Months Ended
	Jun. 30, 2019
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 TOTAL S.A. and its subsidiaries (the Group) as of June 30 2019, 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, 2019, are consistent with those used for the financial statements at December 31, 2018, with the exception of standards or amendments that must be applied for periods beginning January 1, 2019. Ø First-time application of IFRS 16 "Leases" As part of the first application of IFRS 16 "Leases" as of January 1, 2019, the Group: - applied the simplified retrospective transition method, accounting for the cumulative effect of the initial application of the standard at the date of first application, without restating the comparative periods; - used the following simplification measures provided by the standard in the transitional provisions: o exclusion of contracts that the Group had not previously identified as containing a lease under IAS 17 and IFRIC 4, o exclusion of leases whose term ends within 12 months of the date of first application; - recognized each lease component as a separate lease, separately from non-lease components of the lease (services); - applied the two exemptions of the standard on short-term leases and leases of low-value assets. In addition, the Group is currently analyzing the facts and circumstances and contractual terms of each lease agreement used in Joint Operations to determine whether the decision of the IFRS Interpretation Committee of March 2019 dealing with the recognition of lease liabilities in the context of unincorporated joint operations has an impact on its consolidated financial statements. The impact of the application of this standard as at January 1, 2019 is $5,698 million on fixed assets, $(5,505) million on net debt and $(193) million on other assets and liabilities. The weighted average incremental borrowing rate at the transition date is 4.5%. The impact on fixed assets is broken down as follows: (in M$) Right of use of buildings 2,278 Right of use of machinery, plant and equipment (including transportation equipment) 2,632 Other right of use 788 Total 5,698

Changes in the Group structure

Changes in the Group structure	6 Months Ended
	Jun. 30, 2019
Changes in the Group structure
Changes in the Group structure	2) Changes in the Group structure 2.1) Main acquisitions and divestments Ø Integrated Gas, Renewables & Power · On March 4, 2019, TOTAL and Novatek signed a definitive agreement for the acquisition of a 10% direct interest by TOTAL in Arctic LNG 2, a major liquefied natural gas development led by Novatek on the Gydan Peninsula, Russia. · On March 15, 2019, TOTAL finalized the sale of 4% of its interest in the Ichthys liquefied natural gas (LNG) project in Australia to operating partner INPEX, reducing its interest in the project from 30% to 26%. Ø Exploration & Production · On April 1, 2019, Total acquired all the share capital of Chevron Denmark Inc. which holds a 12% interest in the Danish Underground Consortium (DUC), a 12% interest in Licence 8/06, and a 7.5% interest in the Tyra West pipeline. The acquisition increased TOTAL’s operated share of DUC from 31.2% to 43.2%.

Adjustment items

Adjustment items	6 Months Ended
	Jun. 30, 2019
Adjustment items
Adjustment items	3) Adjustment items 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 TOTAL and which is reviewed by the main operational decision-making body of the Group, 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 profitable growth in the gas and low carbon electricity integrated value chains is one of the key axes of TOTAL’s strategy. In order to give more visibility to these businesses, a new reporting structure for the business segments’ financial information has been put in place, effective January 1, 2019. The organization of the Group'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 that was previously reported in the EP segment; - 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. Certain figures for the years 2017 and 2018 have been restated in order to reflect the new organization. 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 some transactions differences between internal measure of performance used by TOTAL’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. Furthermore, TOTAL, in its trading activities, enters into storage contracts, which future effects are recorded at fair value in the Group’s internal economic performance. IFRS precludes recognition of this fair value effect. 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. The detail of the adjustment items is presented in the table below. ADJUSTMENTS TO OPERATING INCOME Exploration Integrated Refining Marketing Corporate Total & Gas, & & Production Renewables Chemicals Services (M$) & Power 2 nd quarter 2019 Inventory valuation effect — — (6) (34) — (40) Effect of changes in fair value — (59) — — — (59) Restructuring charges — — — — — — Asset impairment charges (43) (11) (10) — — (64) Other items — (54) (37) — — (91) Total (43) (124) (53) (34) — (254) 2 nd quarter 2018 Inventory valuation effect — — 569 134 — 703 Effect of changes in fair value — 16 — — — 16 Restructuring charges — — — — — — Asset impairment charges — (424) — — — (424) Other items (97) (1) — — — (98) Total (97) (409) 569 134 — 197 1 st half 2019 Inventory valuation effect — — 486 40 — 526 Effect of changes in fair value — (86) — — — (86) Restructuring charges — — — — — — Asset impairment charges (43) (11) (10) — — (64) Other items — (112) (37) — — (149) Total (43) (209) 439 40 — 227 1 st half 2018 Inventory valuation effect — — 531 105 — 636 Effect of changes in fair value — 5 — — — 5 Restructuring charges (53) — — — — (53) Asset impairment charges — (446) — — — (446) Other items (97) (93) — — (9) (199) Total (150) (534) 531 105 (9) (57) ADJUSTMENTS TO NET INCOME, GROUP SHARE Exploration Integrated Refining Marketing Corporate Total & Gas, & & Production Renewables Chemicals Services (M$) & Power 2 nd quarter 2019 Inventory valuation effect — — (3) (25) — (28) Effect of changes in fair value — (47) — — — (47) Restructuring charges — (14) (17) — — (31) Asset impairment charges (43) (6) (8) — — (57) Gains (losses) on disposals of assets — — — — — — Other items — 86 (48) (6) — 32 Total (43) 19 (76) (31) — (131) 2 nd quarter 2018 Inventory valuation effect — — 436 81 — 517 Effect of changes in fair value — 9 — — — 9 Restructuring charges (44) (2) — — — (46) Asset impairment charges — (236) — — — (236) Gains (losses) on disposals of assets (2) — — — — (2) Other items (71) (3) — — — (74) Total (117) (232) 436 81 — 168 1 st half 2019 Inventory valuation effect — — 341 19 — 360 Effect of changes in fair value — (69) — — — (69) Restructuring charges — (16) (17) — — (33) Asset impairment charges (43) (6) (8) — — (57) Gains (losses) on disposals of assets — — — — — — Other items — 74 (48) (6) — 20 Total (43) (17) 268 13 — 221 1 st half 2018 Inventory valuation effect — — 412 60 — 472 Effect of changes in fair value — 1 — — — 1 Restructuring charges (59) (8) — — — (67) Asset impairment charges — (248) — — — (248) Gains (losses) on disposals of assets (103) — — — — (103) Other items (34) (75) (17) — (9) (135) Total (196) (330) 395 60 (9) (80)

Shareholders' equity

Shareholders' equity	6 Months Ended
	Jun. 30, 2019
Shareholders' equity
Shareholders' equity	4) Shareholders’ equity Treasury shares (TOTAL shares held directly by TOTAL S.A.) In accordance with the February 2018 announcements regarding the shareholder return policy over 2018-2020, confirmed in February 2019, TOTAL S.A. repurchases its own shares. TOTAL S.A. has also repurchased shares to be allocated to free share grant plans. As a result, as of June 30, 2019, TOTAL S.A. holds 64,800,717 TOTAL shares, representing 2.43% of its share capital, which are deducted from the consolidated shareholders’ equity and allocated as follows: Shares to be cancelled (1) 57,130,510 Repurchased during Q4 2018 27,360,278 Repurchased during Q1 2019 7,374,542 Repurchased during Q2 2019 22,395,690 Shares to be allocated as part of free share grant plans (2) 7,670,207 2016 Plan 4,683,986 2017 Plan 2,918,835 Other Plans 67,386 Treasury shares Total (1)+(2) 64,800,717 Dividend The Shareholders’ meeting of May 29, 2019 approved the distribution of a dividend of €2.56 per share for the 2018 fiscal year and the payment of a balance of €0.64 per share to be distributed after the deduction of the three interim dividends of €0.64 per share that had already been paid. Given the decision made by the Board of Directors on February 6, 2019 not to propose to the Shareholders’ meeting the renewal of the scrip dividend option beginning with the payment of the final 2018 dividend, the final 2018 dividend has been paid exclusively in cash. Dividend 2018 First interim Second interim Third interim Final Amount € 0.64 € 0.64 € 0.64 € 0.64 Declaration of distribution (1) September 19, 2018 December 12, 2018 March 13, 2019 May 29, 2019 Ex-dividend date September 25, 2018 December 18, 2018 March 19, 2019 June 11, 2019 Payment date October 12, 2018 January 10, 2019 April 5, 2019 June 13, 2019 Scrip dividend option Yes Yes Yes No Issue price (2) € 52.95 € 48.27 € 49.30 — Number of shares subscribed 18,783,197 1,212,767 14,864,169 — (1) Date on which the Board of Directors met and declared the distribution of the dividend. The declaration of distribution is decided by the shareholders for the final dividend. (2) The issue price of the new share is equal to the average Euronext Paris opening price of the TOTAL shares for the 20 trading days preceding the declaration of distribution, reduced by the amount of the dividend, without any discount. Moreover, the Board of Directors held on July 24, 2019, set the second interim dividend for the fiscal year 2019 at €0.66 per share. This interim dividend will be detached on January 6, 2020 and paid in cash on January 8, 2020. Dividend 2019 First interim Second interim Amount 0.66 € 0.66 € Set date April 25, 2019 July 24, 2019 Ex-dividend date September 27, 2019 January 6, 2020 Payment date October 1 st , 2019 January 8, 2020 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 €0.89 per share for the 2 nd quarter 2019 (€1.03 per share for the 1 st quarter 2019 and €1.16 per share for the 2 nd quarter 2018). Diluted earnings per share calculated using the same method amounted to €0.89 per share for the 2 nd quarter 2019 (€1.02 per share for the 1 st quarter 2019 and €1.16 per share for the 2 nd quarter 2018). Earnings per share are calculated after remuneration of perpetual subordinated notes. Perpetual subordinated notes The Group has issued perpetual subordinated notes in April 2019: · Perpetual subordinated notes 1.750% callable in 2024 (EUR 1,500 million). The Group has tendered perpetual subordinated in April 2019: · Perpetual subordinated notes 2.250% callable in 2021 (EUR 1,500 million). Other comprehensive income Detail of other comprehensive income is presented in the table below: (M$) 1 st half 2019 1 st half 2018 Actuarial gains and losses (59) 67 Change in fair value of investments in equity instruments 107 5 Tax effect 14 (18) Currency translation adjustment generated by the parent company (474) (2,630) Sub-total items not potentially reclassifiable to profit and loss (412) (2,576) Currency translation adjustment 187 968 - unrealized gain/(loss) of the period 233 1,078 - less gain/(loss) included in net income 46 110 Cash flow hedge (373) 255 - unrealized gain/(loss) of the period (303) 142 - less gain/(loss) included in net income 70 (113) Variation of foreign currency basis spread 54 (27) - unrealized gain/(loss) of the period 25 (27) - less gain/(loss) included in net income (29) — Share of other comprehensive income of equity affiliates, net amount 253 (132) - unrealized gain/(loss) of the period 265 (93) - less gain/(loss) included in net income 12 39 Other 2 (2) Tax effect 107 (75) Sub-total items potentially reclassifiable to profit and loss 230 987 Total other comprehensive income, net amount (182) (1,589) Tax effects relating to each component of other comprehensive income are as follows: 1 st half 2019 1 st half 2018 (M$) Pre-tax amount Tax effect Net amount Pre-tax amount Tax effect Net amount Actuarial gains and losses (59) 16 (43) 67 (18) 49 Change in fair value of investments in equity instruments 107 (2) 105 5 — 5 Currency translation adjustment generated by the parent company (474) — (474) (2,630) — (2,630) Sub-total items not potentially reclassifiable to profit and loss (426) 14 (412) (2,558) (18) (2,576) Currency translation adjustment 187 — 187 968 — 968 Cash flow hedge (373) 125 (248) 255 (81) 174 Variation of foreign currency basis spread 54 (18) 36 (27) 6 (21) Share of other comprehensive income of equity affiliates, net amount 253 — 253 (132) — (132) Other 2 — 2 (2) — (2) Sub-total items potentially reclassifiable to profit and loss 123 107 230 1,062 (75) 987 Total other comprehensive income (303) 121 (182) (1,496) (93) (1,589)

Financial debt

Financial debt	6 Months Ended
	Jun. 30, 2019
Financial debt
Financial debt	5) Financial debt The Group has issued bonds during the first six months of 2019: - Bond 3.455% 2019-2029 (USD 1,250 million); - Bond 1.660% 2019-2026 (GBP 500 million); - Bond 0.696% 2019-2028 (EUR 650 million); - Bond 1.535% 2019-2039 (EUR 650 million); - Bond 0.166% 2019-2029 (CHF 200 million). The Group reimbursed bonds during the first six months of 2019: - Bond 4.875% issued in 2009 and maturing in January 2019 (EUR 1,200 million); - Bond 2.125% issued in 2014 and maturing in January 2019 (USD 750 million); - Bond 4.125% issued in 2014 and maturing in March 2019 (AUD 150 million); - Bond 4.180% issued in 2009 and maturing in June 2019 (HKD 750 million); - Bond 2.100% issued in 2014 and maturing in June 2019 (USD 1,000 million); - Bond USD 3-month Libor + 35 basis points issued in 2014 and maturing in June 2019 (USD 250 million); - Bond 3.750% issued in 2014 and maturing in June 2019 (AUD 100 million). The Group’s financial debt increased by $5,555 million following the first application of IFRS 16 as at January 1, 2019. Impact on net debt included a sub-lease financial asset of $50 million and resulted in an increase of $5,505 million.

Related parties

Related parties	6 Months Ended
	Jun. 30, 2019
Related parties
Related parties	6) Related parties The related parties are principally equity affiliates and non-consolidated investments. In March 2019, the Group signed final agreements for the acquisition of a 10% direct interest in Arctic LNG2 with Novatek, in which TOTAL holds an interest of 19.40%. For the period ending June 30, 2019, the Group recognized its share of the net income generated by this transaction in Novatek’s financial statements, except for the gain on disposal that has been eliminated.

Other risks and contingent liab

Other risks and contingent liabilities	6 Months Ended
	Jun. 30, 2019
Other risks and contingent liabilities
Other risks and contingent liabilities	7) Other risks and contingent liabilities TOTAL 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 Group. FERC The Office of Enforcement of the U.S. Federal Energy Regulatory Commission (FERC) began in 2015 an investigation in connection with the natural gas trading activities in the United States of Total Gas & Power North America, Inc. (TGPNA), a U.S. subsidiary of the Group. The investigation covered transactions made by TGPNA between June 2009 and June 2012 on the natural gas market. TGPNA received a Notice of Alleged Violations from FERC on September 21, 2015. On April 28, 2016, FERC issued an order to show cause to TGPNA and two of its former employees, and to TOTAL S.A. and Total Gas & Power Ltd., regarding the same facts. TGPNA contests the claims brought against it. A class action launched to seek damages from these three companies, was dismissed by a judgment of the U.S. District Court of New York issued on March 15, 2017. The Court of Appeal upheld this judgment on May 4, 2018. Yemen Due to the security conditions in the vicinity of Balhaf, Yemen LNG, in which the Group holds a stake of 39.62%, stopped its commercial production and export of LNG in April 2015, when it declared Force Majeure to its various stakeholders. The plant is in a preservation mode.

Information by business segment

Information by business segment	6 Months Ended
	Jun. 30, 2019
Information by business segment
Information by business segment	8) Information by business segment Exploration Integrated Gas, Refining Marketing 1 st half 2019 & Renewables & & Corporate Intercompany Total (M$) Production & Power Chemicals Services Non-Group sales 4,067 10,208 44,220 43,950 2 — 102,447 Intersegment sales 15,302 1,259 16,310 301 63 (33,235) — Excise taxes — — (1,537) (10,584) — — (12,121) Revenues from sales 19,369 11,467 58,993 33,667 65 (33,235) 90,326 Operating expenses (8,234) (10,287) (56,502) (32,178) (406) 33,235 (74,372) Depreciation, depletion and impairment of tangible assets and mineral interests (5,216) (643) (763) (470) (35) — (7,127) Operating income 5,919 537 1,728 1,019 (376) — 8,827 Net income (loss) from equity affiliates and other items 367 1,041 260 101 27 — 1,796 Tax on net operating income (2,585) (623) (246) (334) 124 — (3,664) Net operating income 3,701 955 1,742 786 (225) — 6,959 Net cost of net debt (1,015) Non-controlling interests (77) Net income - group share 5,867 Exploration Integrated Gas, Refining Marketing 1 st half 2019 (adjustments) (a) & Renewables & & Corporate Intercompany Total (M$) Production & Power Chemicals Services Non-Group sales — (86) — — — — (86) Intersegment sales — — — — — — — Excise taxes — — — — — — — Revenues from sales — (86) — — — — (86) Operating expenses — (112) 449 40 — — 377 Depreciation, depletion and impairment of tangible assets and mineral interests (43) (11) (10) — — — (64) Operating income (b) (43) (209) 439 40 — — 227 Net income (loss) from equity affiliates and other items — 413 (47) (7) — — 359 Tax on net operating income — (270) (121) (13) — — (404) Net operating income (b) (43) (66) 271 20 — — 182 Net cost of net debt (8) Non-controlling interests 47 Net income - group share 221 (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 — — 486 40 — - On net operating income — — 344 27 — Exploration Integrated Gas, Refining Marketing 1 st half 2019 (adjusted) & Renewables & & Corporate Intercompany Total (M$) Production & Power Chemicals Services Non-Group sales 4,067 10,294 44,220 43,950 2 — 102,533 Intersegment sales 15,302 1,259 16,310 301 63 (33,235) — Excise taxes — — (1,537) (10,584) — — (12,121) Revenues from sales 19,369 11,553 58,993 33,667 65 (33,235) 90,412 Operating expenses (8,234) (10,175) (56,951) (32,218) (406) 33,235 (74,749) Depreciation, depletion and impairment of tangible assets and mineral interests (5,173) (632) (753) (470) (35) — (7,063) Adjusted operating income 5,962 746 1,289 979 (376) — 8,600 Net income (loss) from equity affiliates and other items 367 628 307 108 27 — 1,437 Tax on net operating income (2,585) (353) (125) (321) 124 — (3,260) Adjusted net operating income 3,744 1,021 1,471 766 (225) — 6,777 Net cost of net debt (1,007) Non-controlling interests (124) Adjusted net income - group share 5,646 Exploration Integrated Gas, Refining Marketing 1 st half 2019 & Renewables & & Corporate Intercompany Total (M$) Production & Power Chemicals Services Total expenditures 4,282 1,975 648 527 51 7,483 Total divestments 89 574 239 157 3 1,062 Cash flow from operating activities 7,704 1,533 1,120 843 (1,320) 9,880 Exploration Integrated Gas, Refining Marketing 1 st half 2018 & Renewables & & Corporate Intercompany Total (M$) Production & Power Chemicals Services Non-Group sales 5,337 7,887 45,088 43,836 3 — 102,151 Intersegment sales 14,423 961 17,396 491 34 (33,305) — Excise taxes — — (1,714) (11,043) — — (12,757) Revenues from sales 19,760 8,848 60,770 33,284 37 (33,305) 89,394 Operating expenses (8,721) (8,123) (58,248) (31,919) (399) 33,305 (74,105) Depreciation, depletion and impairment of tangible assets and mineral interests (4,561) (807) (617) (346) (20) — (6,351) Operating income 6,478 (82) 1,905 1,019 (382) — 8,938 Net income (loss) from equity affiliates and other items 577 795 417 193 9 — 1,991 Tax on net operating income (3,119) (237) (383) (297) 181 — (3,855) Net operating income 3,936 476 1,939 915 (192) — 7,074 Net cost of net debt (791) Non-controlling interests 74 Net income - group share 6,357 Exploration Integrated Gas, Refining Marketing 1 st half 2018 (adjustments) (a) & Renewables & & Corporate Intercompany Total (M$) Production & Power Chemicals Services Non-Group sales — 13 — — — — 13 Intersegment sales — — — — — — — Excise taxes — — — — — — — Revenues from sales — 13 — — — — 13 Operating expenses (150) (101) 531 105 (9) — 376 Depreciation, depletion and impairment of tangible assets and mineral interests — (446) — — — — (446) Operating income (b) (150) (534) 531 105 (9) — (57) Net income (loss) from equity affiliates and other items (167) (15) 25 — — — (157) Tax on net operating income 121 (21) (158) (35) — — (93) Net operating income (b) (196) (570) 398 70 (9) — (307) Net cost of net debt (19) Non-controlling interests 246 Net income - group share (80) (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 — — 531 105 — - On net operating income — — 415 70 — Exploration Integrated Gas, Refining Marketing 1 st half 2018 (adjusted) & Renewables & & Corporate Intercompany Total (M$) Production & Power Chemicals Services Non-Group sales 5,337 7,874 45,088 43,836 3 — 102,138 Intersegment sales 14,423 961 17,396 491 34 (33,305) — Excise taxes — — (1,714) (11,043) — — (12,757) Revenues from sales 19,760 8,835 60,770 33,284 37 (33,305) 89,381 Operating expenses (8,571) (8,022) (58,779) (32,024) (390) 33,305 (74,481) Depreciation, depletion and impairment of tangible assets and mineral interests (4,561) (361) (617) (346) (20) — (5,905) Adjusted operating income 6,628 452 1,374 914 (373) — 8,995 Net income (loss) from equity affiliates and other items 744 810 392 193 9 — 2,148 Tax on net operating income (3,240) (216) (225) (262) 181 — (3,762) Adjusted net operating income 4,132 1,046 1,541 845 (183) — 7,381 Net cost of net debt (772) Non-controlling interests (172) Adjusted net income - group share 6,437 Exploration Integrated Gas, Refining Marketing 1 st half 2018 & Renewables & & Corporate Intercompany Total (M$) Production & Power Chemicals Services Total expenditures 8,157 1,022 736 538 58 — 10,511 Total divestments 2,642 592 349 273 3 — 3,859 Cash flow from operating activities 7,796 326 (110) 781 (466) — 8,327 Exploration Integrated Gas, Refining Marketing 2 nd quarter 2019 & Renewables & & Corporate Intercompany Total (M$) Production & Power Chemicals Services Non-Group sales 2,273 3,789 22,509 22,671 — — 51,242 Intersegment sales 7,586 632 8,293 139 36 (16,686) — Excise taxes — — (761) (5,279) — — (6,040) Revenues from sales 9,859 4,421 30,041 17,531 36 (16,686) 45,202 Operating expenses (4,205) (3,878) (29,168) (16,844) (229) 16,686 (37,638) Depreciation, depletion and impairment of tangible assets and mineral interests (2,687) (328) (389) (237) (20) — (3,661) Operating income 2,967 215 484 450 (213) — 3,903 Net income (loss) from equity affiliates and other items 173 661 111 111 26 — 1,082 Tax on net operating income (1,161) (450) 46 (170) 64 — (1,671) Net operating income 1,979 426 641 391 (123) — 3,314 Net cost of net debt (510) Non-controlling interests (48) Net income - group share 2,756 Exploration Integrated Gas, Refining Marketing 2 nd quarter 2019 (adjustments) (a) & Renewables & & Corporate Intercompany Total (M$) Production & Power Chemicals Services Non-Group sales — (59) — — — — (59) Intersegment sales — — — — — — — Excise taxes — — — — — — — Revenues from sales — (59) — — — — (59) Operating expenses — (54) (43) (34) — — (131) Depreciation, depletion and impairment of tangible assets and mineral interests (43) (11) (10) — — — (64) Operating income (b) (43) (124) (53) (34) — — (254) Net income (loss) from equity affiliates and other items — 407 (49) (7) — — 351 Tax on net operating income — (286) 28 9 — — (249) Net operating income (b) (43) (3) (74) (32) — — (152) Net cost of net debt (4) Non-controlling interests 25 Net income - group share (131) (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 — — (6) (34) — - On net operating income — — (1) (25) — Exploration Integrated Gas, Refining Marketing 2 nd quarter 2019 (adjusted) & Renewables & & Corporate Intercompany Total (M$) Production & Power Chemicals Services Non-Group sales 2,273 3,848 22,509 22,671 — — 51,301 Intersegment sales 7,586 632 8,293 139 36 (16,686) — Excise taxes — — (761) (5,279) — — (6,040) Revenues from sales 9,859 4,480 30,041 17,531 36 (16,686) 45,261 Operating expenses (4,205) (3,824) (29,125) (16,810) (229) 16,686 (37,507) Depreciation, depletion and impairment of tangible assets and mineral interests (2,644) (317) (379) (237) (20) — (3,597) Adjusted operating income 3,010 339 537 484 (213) — 4,157 Net income (loss) from equity affiliates and other items 173 254 160 118 26 — 731 Tax on net operating income (1,161) (164) 18 (179) 64 — (1,422) Adjusted net operating income 2,022 429 715 423 (123) — 3,466 Net cost of net debt (506) Non-controlling interests (73) Adjusted net income - group share 2,887 Exploration Integrated Gas, Refining Marketing 2 nd quarter 2019 & Renewables & & Corporate Intercompany Total (M$) Production & Power Chemicals Services Total expenditures 2,257 857 363 383 36 3,896 Total divestments 60 349 70 85 1 565 Cash flow from operating activities 3,768 641 1,658 611 (427) 6,251 Exploration Integrated Gas, 2 nd quarter 2018 & Renewables Refining & Marketing & (M$) Production & Power Chemicals Services Corporate Intercompany Total Non-Group sales 3,119 3,547 23,349 22,528 (3) — 52,540 Intersegment sales 7,646 469 9,440 293 (63) (17,785) — Excise taxes — — (867) (5,571) — — (6,438) Revenues from sales 10,765 4,016 31,922 17,250 (66) (17,785) 46,102 Operating expenses (4,791) (3,605) (30,369) (16,416) (122) 17,785 (37,518) Depreciation, depletion and impairment of tangible assets and mineral interests (2,345) (603) (304) (172) (11) — (3,435) Operating income 3,629 (192) 1,249 662 (199) — 5,149 Net income (loss) from equity affiliates and other items 256 441 289 107 11 — 1,104 Tax on net operating income (1,687) (104) (279) (194) 85 — (2,179) Net operating income 2,198 145 1,259 575 (103) — 4,074 Net cost of net debt (440) Non-controlling interests 87 Net income - group share 3,721 Exploration Integrated Gas, 2 nd quarter 2018 (adjustments) (a) & Renewables Refining & Marketing & (M$) Production & Power Chemicals Services Corporate Intercompany Total Non-Group sales — 24 — — — — 24 Intersegment sales — — — — — — — Excise taxes — — — — — — — Revenues from sales — 24 — — — — 24 Operating expenses (97) (9) 569 134 — — 597 Depreciation, depletion and impairment of tangible assets and mineral interests — (424) — — — — (424) Operating income (b) (97) (409) 569 134 — — 197 Net income (loss) from equity affiliates and other items (66) (4) 46 1 — — (23) Tax on net operating income 46 (7) (177) (38) — — (176) Net operating income (b) (117) (420) 438 97 — — (2) Net cost of net debt (9) Non-controlling interests 179 Net income - group share 168 (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 — — 569 134 — - On net operating income — — 438 97 — Exploration Integrated Gas, 2 nd quarter 2018 (adjusted) & Renewables Refining & Marketing & (M$) Production & Power Chemicals Services Corporate Intercompany Total Non-Group sales 3,119 3,523 23,349 22,528 (3) — 52,516 Intersegment sales 7,646 469 9,440 293 (63) (17,785) — Excise taxes — — (867) (5,571) — - (6,438) Revenues from sales 10,765 3,992 31,922 17,250 (66) (17,785) 46,078 Operating expenses (4,694) (3,596) (30,938) (16,550) (122) 17,785 (38,115) Depreciation, depletion and impairment of tangible assets and mineral interests (2,345) (179) (304) (172) (11) — (3,011) Adjusted operating income 3,726 217 680 528 (199) — 4,952 Net income (loss) from equity affiliates and other items 322 445 243 106 11 — 1,127 Tax on net operating income (1,733) (97) (102) (156) 85 — (2,003) Adjusted net operating income 2,315 565 821 478 (103) — 4,076 Net cost of net debt (431) Non-controlling interests (92) Adjusted net income - group share 3,553 Exploration Integrated Gas, 2 nd quarter 2018 & Renewables Refining & Marketing & (M$) Production & Power Chemicals Services Corporate Intercompany Total Total expenditures 2,612 447 404 310 14 3,787 Total divestments 466 439 324 45 — 1,274 Cash flow from operating activities 4,474 258 999 841 (326) 6,246

Reconciliation of the informati

Reconciliation of the information by business segment with consolidated financial statements	6 Months Ended
	Jun. 30, 2019
Reconciliation of the information by business segment with consolidated financial statements
Reconciliation of the information by business segment with consolidated financial statements	9) Reconciliation of the information by business segment with consolidated financial statements Consolidated 1 st half 2019 statement (M$) Adjusted Adjustments (a) of income Sales 102,533 (86) 102,447 Excise taxes (12,121) — (12,121) Revenues from sales 90,412 (86) 90,326 Purchases net of inventory variation (60,533) 422 (60,111) Other operating expenses (13,758) (45) (13,803) Exploration costs (458) — (458) Depreciation, depletion and impairment of tangible assets and mineral interests (7,063) (64) (7,127) Other income 453 115 568 Other expense (190) (208) (398) Financial interest on debt (1,121) (8) (1,129) Financial income and expense from cash & cash equivalents (70) — (70) Cost of net debt (1,191) (8) (1,199) Other financial income 486 — 486 Other financial expense (383) — (383) Net income (loss) from equity affiliates 1,071 452 1,523 Income taxes (3,076) (404) (3,480) Consolidated net income 5,770 174 5,944 Group share 5,646 221 5,867 Non-controlling interests 124 (47) 77 (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. Consolidated 1 st half 2018 statement (M$) Adjusted Adjustments (a) of income Sales 102,138 13 102,151 Excise taxes (12,757) — (12,757) Revenues from sales 89,381 13 89,394 Purchases net of inventory variation (60,623) 578 (60,045) Other operating expenses (13,496) (202) (13,698) Exploration costs (362) — (362) Depreciation, depletion and impairment of tangible assets and mineral interests (5,905) (446) (6,351) Other income 628 147 775 Other expense (115) (488) (603) Financial interest on debt (849) (19) (868) Financial income and expense from cash & cash equivalents (95) — (95) Cost of net debt (944) (19) (963) Other financial income 561 — 561 Other financial expense (329) — (329) Net income (loss) from equity affiliates 1,403 184 1,587 Income taxes (3,590) (93) (3,683) Consolidated net income 6,609 (326) 6,283 Group share 6,437 (80) 6,357 Non-controlling interests 172 (246) (74) (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. Consolidated 2 nd quarter 2019 statement (M$) Adjusted Adjustments (a) of income Sales 51,301 (59) 51,242 Excise taxes (6,040) — (6,040) Revenues from sales 45,261 (59) 45,202 Purchases net of inventory variation (30,295) (95) (30,390) Other operating expenses (7,042) (36) (7,078) Exploration costs (170) — (170) Depreciation, depletion and impairment of tangible assets and mineral interests (3,597) (64) (3,661) Other income 253 68 321 Other expense (117) (72) (189) Financial interest on debt (564) (4) (568) Financial income and expense from cash & cash equivalents (42) — (42) Cost of net debt (606) (4) (610) Other financial income 326 — 326 Other financial expense (188) — (188) Net income (loss) from equity affiliates 457 355 812 Income taxes (1,322) (249) (1,571) Consolidated net income 2,960 (156) 2,804 Group share 2,887 (131) 2,756 Non-controlling interests 73 (25) 48 (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. Consolidated 2 nd quarter 2018 statement (M$) Adjusted Adjustments (a) of income Sales 52,516 24 52,540 Excise taxes (6,438) — (6,438) Revenues from sales 46,078 24 46,102 Purchases net of inventory variation (31,263) 664 (30,599) Other operating expenses (6,694) (67) (6,761) Exploration costs (158) — (158) Depreciation, depletion and impairment of tangible assets and mineral interests (3,011) (424) (3,435) Other income 254 (2) 252 Other expense (55) (358) (413) Financial interest on debt (469) (9) (478) Financial income and expense from cash & cash equivalents (54) — (54) Cost of net debt (523) (9) (532) Other financial income 321 — 321 Other financial expense (159) — (159) Net income (loss) from equity affiliates 766 337 1,103 Income taxes (1,911) (176) (2,087) Consolidated net income 3,645 (11) 3,634 Group share 3,553 168 3,721 Non-controlling interests 92 (179) (87) (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value.

Post closing

Post closing	6 Months Ended
	Jun. 30, 2018
Post closing
Post closing	10) Post-closing On July 10, 2019, TOTAL announced the signature of an agreement to divest several UK non-core assets to Petrogas NEO UK Ltd. The overall consideration for this deal amounts to 635 million dollars with an effective date of January 1, 2019. The transaction remains subject to approval from the relevant authorities and is expected to close in December 2019.

Accounting policies (Policies)

Accounting policies (Policies)	6 Months Ended
	Jun. 30, 2019
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 TOTAL S.A. and its subsidiaries (the Group) as of June 30 2019, 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, 2019, are consistent with those used for the financial statements at December 31, 2018, with the exception of standards or amendments that must be applied for periods beginning January 1, 2019.
First-time application of IFRS 16 "Leases"	Ø First-time application of IFRS 16 "Leases" As part of the first application of IFRS 16 "Leases" as of January 1, 2019, the Group: - applied the simplified retrospective transition method, accounting for the cumulative effect of the initial application of the standard at the date of first application, without restating the comparative periods; - used the following simplification measures provided by the standard in the transitional provisions: o exclusion of contracts that the Group had not previously identified as containing a lease under IAS 17 and IFRIC 4, o exclusion of leases whose term ends within 12 months of the date of first application; - recognized each lease component as a separate lease, separately from non-lease components of the lease (services); - applied the two exemptions of the standard on short-term leases and leases of low-value assets. In addition, the Group is currently analyzing the facts and circumstances and contractual terms of each lease agreement used in Joint Operations to determine whether the decision of the IFRS Interpretation Committee of March 2019 dealing with the recognition of lease liabilities in the context of unincorporated joint operations has an impact on its consolidated financial statements. The impact of the application of this standard as at January 1, 2019 is $5,698 million on fixed assets, $(5,505) million on net debt and $(193) million on other assets and liabilities. The weighted average incremental borrowing rate at the transition date is 4.5%. The impact on fixed assets is broken down as follows: (in M$) Right of use of buildings 2,278 Right of use of machinery, plant and equipment (including transportation equipment) 2,632 Other right of use 788 Total 5,698

Accounting policies (Tables)

Accounting policies (Tables)	6 Months Ended
	Jun. 30, 2019
Accounting policies
Schedule of impact on fixed assets due to adoption of IFRS 16	Right of use of buildings 2,278 Right of use of machinery, plant and equipment (including transportation equipment) 2,632 Other right of use 788 Total 5,698

Adjustment items (Tables)

Adjustment items (Tables)	6 Months Ended
	Jun. 30, 2019
Adjustment items
Schedule of detail of the adjustment items	ADJUSTMENTS TO OPERATING INCOME Exploration Integrated Refining Marketing Corporate Total & Gas, & & Production Renewables Chemicals Services (M$) & Power 2 nd quarter 2019 Inventory valuation effect — — (6) (34) — (40) Effect of changes in fair value — (59) — — — (59) Restructuring charges — — — — — — Asset impairment charges (43) (11) (10) — — (64) Other items — (54) (37) — — (91) Total (43) (124) (53) (34) — (254) 2 nd quarter 2018 Inventory valuation effect — — 569 134 — 703 Effect of changes in fair value — 16 — — — 16 Restructuring charges — — — — — — Asset impairment charges — (424) — — — (424) Other items (97) (1) — — — (98) Total (97) (409) 569 134 — 197 1 st half 2019 Inventory valuation effect — — 486 40 — 526 Effect of changes in fair value — (86) — — — (86) Restructuring charges — — — — — — Asset impairment charges (43) (11) (10) — — (64) Other items — (112) (37) — — (149) Total (43) (209) 439 40 — 227 1 st half 2018 Inventory valuation effect — — 531 105 — 636 Effect of changes in fair value — 5 — — — 5 Restructuring charges (53) — — — — (53) Asset impairment charges — (446) — — — (446) Other items (97) (93) — — (9) (199) Total (150) (534) 531 105 (9) (57) ADJUSTMENTS TO NET INCOME, GROUP SHARE Exploration Integrated Refining Marketing Corporate Total & Gas, & & Production Renewables Chemicals Services (M$) & Power 2 nd quarter 2019 Inventory valuation effect — — (3) (25) — (28) Effect of changes in fair value — (47) — — — (47) Restructuring charges — (14) (17) — — (31) Asset impairment charges (43) (6) (8) — — (57) Gains (losses) on disposals of assets — — — — — — Other items — 86 (48) (6) — 32 Total (43) 19 (76) (31) — (131) 2 nd quarter 2018 Inventory valuation effect — — 436 81 — 517 Effect of changes in fair value — 9 — — — 9 Restructuring charges (44) (2) — — — (46) Asset impairment charges — (236) — — — (236) Gains (losses) on disposals of assets (2) — — — — (2) Other items (71) (3) — — — (74) Total (117) (232) 436 81 — 168 1 st half 2019 Inventory valuation effect — — 341 19 — 360 Effect of changes in fair value — (69) — — — (69) Restructuring charges — (16) (17) — — (33) Asset impairment charges (43) (6) (8) — — (57) Gains (losses) on disposals of assets — — — — — — Other items — 74 (48) (6) — 20 Total (43) (17) 268 13 — 221 1 st half 2018 Inventory valuation effect — — 412 60 — 472 Effect of changes in fair value — 1 — — — 1 Restructuring charges (59) (8) — — — (67) Asset impairment charges — (248) — — — (248) Gains (losses) on disposals of assets (103) — — — — (103) Other items (34) (75) (17) — (9) (135) Total (196) (330) 395 60 (9) (80)

Shareholders' equity (Tables)

Shareholders' equity (Tables)	6 Months Ended
	Jun. 30, 2019
Shareholders' equity
Schedule of treasury shares held	Shares to be cancelled (1) 57,130,510 Repurchased during Q4 2018 27,360,278 Repurchased during Q1 2019 7,374,542 Repurchased during Q2 2019 22,395,690 Shares to be allocated as part of free share grant plans (2) 7,670,207 2016 Plan 4,683,986 2017 Plan 2,918,835 Other Plans 67,386 Treasury shares Total (1)+(2) 64,800,717
Schedule of information about dividends paid	Dividend 2018 First interim Second interim Third interim Final Amount € 0.64 € 0.64 € 0.64 € 0.64 Declaration of distribution (1) September 19, 2018 December 12, 2018 March 13, 2019 May 29, 2019 Ex-dividend date September 25, 2018 December 18, 2018 March 19, 2019 June 11, 2019 Payment date October 12, 2018 January 10, 2019 April 5, 2019 June 13, 2019 Scrip dividend option Yes Yes Yes No Issue price (2) € 52.95 € 48.27 € 49.30 — Number of shares subscribed 18,783,197 1,212,767 14,864,169 — (1) Date on which the Board of Directors met and declared the distribution of the dividend. The declaration of distribution is decided by the shareholders for the final dividend. (2) The issue price of the new share is equal to the average Euronext Paris opening price of the TOTAL shares for the 20 trading days preceding the declaration of distribution, reduced by the amount of the dividend, without any discount. Dividend 2019 First interim Second interim Amount 0.66 € 0.66 € Set date April 25, 2019 July 24, 2019 Ex-dividend date September 27, 2019 January 6, 2020 Payment date October 1 st , 2019 January 8, 2020
Detail of other comprehensive income	Detail of other comprehensive income is presented in the table below: (M$) 1 st half 2019 1 st half 2018 Actuarial gains and losses (59) 67 Change in fair value of investments in equity instruments 107 5 Tax effect 14 (18) Currency translation adjustment generated by the parent company (474) (2,630) Sub-total items not potentially reclassifiable to profit and loss (412) (2,576) Currency translation adjustment 187 968 - unrealized gain/(loss) of the period 233 1,078 - less gain/(loss) included in net income 46 110 Cash flow hedge (373) 255 - unrealized gain/(loss) of the period (303) 142 - less gain/(loss) included in net income 70 (113) Variation of foreign currency basis spread 54 (27) - unrealized gain/(loss) of the period 25 (27) - less gain/(loss) included in net income (29) — Share of other comprehensive income of equity affiliates, net amount 253 (132) - unrealized gain/(loss) of the period 265 (93) - less gain/(loss) included in net income 12 39 Other 2 (2) Tax effect 107 (75) Sub-total items potentially reclassifiable to profit and loss 230 987 Total other comprehensive income, net amount (182) (1,589) Tax effects relating to each component of other comprehensive income are as follows: 1 st half 2019 1 st half 2018 (M$) Pre-tax amount Tax effect Net amount Pre-tax amount Tax effect Net amount Actuarial gains and losses (59) 16 (43) 67 (18) 49 Change in fair value of investments in equity instruments 107 (2) 105 5 — 5 Currency translation adjustment generated by the parent company (474) — (474) (2,630) — (2,630) Sub-total items not potentially reclassifiable to profit and loss (426) 14 (412) (2,558) (18) (2,576) Currency translation adjustment 187 — 187 968 — 968 Cash flow hedge (373) 125 (248) 255 (81) 174 Variation of foreign currency basis spread 54 (18) 36 (27) 6 (21) Share of other comprehensive income of equity affiliates, net amount 253 — 253 (132) — (132) Other 2 — 2 (2) — (2) Sub-total items potentially reclassifiable to profit and loss 123 107 230 1,062 (75) 987 Total other comprehensive income (303) 121 (182) (1,496) (93) (1,589)

Information by business segme_2

Information by business segment (Tables)	6 Months Ended
	Jun. 30, 2019
Information by business segment
Schedule of information by business segment	Exploration Integrated Gas, Refining Marketing 1 st half 2019 & Renewables & & Corporate Intercompany Total (M$) Production & Power Chemicals Services Non-Group sales 4,067 10,208 44,220 43,950 2 — 102,447 Intersegment sales 15,302 1,259 16,310 301 63 (33,235) — Excise taxes — — (1,537) (10,584) — — (12,121) Revenues from sales 19,369 11,467 58,993 33,667 65 (33,235) 90,326 Operating expenses (8,234) (10,287) (56,502) (32,178) (406) 33,235 (74,372) Depreciation, depletion and impairment of tangible assets and mineral interests (5,216) (643) (763) (470) (35) — (7,127) Operating income 5,919 537 1,728 1,019 (376) — 8,827 Net income (loss) from equity affiliates and other items 367 1,041 260 101 27 — 1,796 Tax on net operating income (2,585) (623) (246) (334) 124 — (3,664) Net operating income 3,701 955 1,742 786 (225) — 6,959 Net cost of net debt (1,015) Non-controlling interests (77) Net income - group share 5,867 Exploration Integrated Gas, Refining Marketing 1 st half 2019 (adjustments) (a) & Renewables & & Corporate Intercompany Total (M$) Production & Power Chemicals Services Non-Group sales — (86) — — — — (86) Intersegment sales — — — — — — — Excise taxes — — — — — — — Revenues from sales — (86) — — — — (86) Operating expenses — (112) 449 40 — — 377 Depreciation, depletion and impairment of tangible assets and mineral interests (43) (11) (10) — — — (64) Operating income (b) (43) (209) 439 40 — — 227 Net income (loss) from equity affiliates and other items — 413 (47) (7) — — 359 Tax on net operating income — (270) (121) (13) — — (404) Net operating income (b) (43) (66) 271 20 — — 182 Net cost of net debt (8) Non-controlling interests 47 Net income - group share 221 (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 — — 486 40 — - On net operating income — — 344 27 — Exploration Integrated Gas, Refining Marketing 1 st half 2019 (adjusted) & Renewables & & Corporate Intercompany Total (M$) Production & Power Chemicals Services Non-Group sales 4,067 10,294 44,220 43,950 2 — 102,533 Intersegment sales 15,302 1,259 16,310 301 63 (33,235) — Excise taxes — — (1,537) (10,584) — — (12,121) Revenues from sales 19,369 11,553 58,993 33,667 65 (33,235) 90,412 Operating expenses (8,234) (10,175) (56,951) (32,218) (406) 33,235 (74,749) Depreciation, depletion and impairment of tangible assets and mineral interests (5,173) (632) (753) (470) (35) — (7,063) Adjusted operating income 5,962 746 1,289 979 (376) — 8,600 Net income (loss) from equity affiliates and other items 367 628 307 108 27 — 1,437 Tax on net operating income (2,585) (353) (125) (321) 124 — (3,260) Adjusted net operating income 3,744 1,021 1,471 766 (225) — 6,777 Net cost of net debt (1,007) Non-controlling interests (124) Adjusted net income - group share 5,646 Exploration Integrated Gas, Refining Marketing 1 st half 2019 & Renewables & & Corporate Intercompany Total (M$) Production & Power Chemicals Services Total expenditures 4,282 1,975 648 527 51 7,483 Total divestments 89 574 239 157 3 1,062 Cash flow from operating activities 7,704 1,533 1,120 843 (1,320) 9,880 Exploration Integrated Gas, Refining Marketing 1 st half 2018 & Renewables & & Corporate Intercompany Total (M$) Production & Power Chemicals Services Non-Group sales 5,337 7,887 45,088 43,836 3 — 102,151 Intersegment sales 14,423 961 17,396 491 34 (33,305) — Excise taxes — — (1,714) (11,043) — — (12,757) Revenues from sales 19,760 8,848 60,770 33,284 37 (33,305) 89,394 Operating expenses (8,721) (8,123) (58,248) (31,919) (399) 33,305 (74,105) Depreciation, depletion and impairment of tangible assets and mineral interests (4,561) (807) (617) (346) (20) — (6,351) Operating income 6,478 (82) 1,905 1,019 (382) — 8,938 Net income (loss) from equity affiliates and other items 577 795 417 193 9 — 1,991 Tax on net operating income (3,119) (237) (383) (297) 181 — (3,855) Net operating income 3,936 476 1,939 915 (192) — 7,074 Net cost of net debt (791) Non-controlling interests 74 Net income - group share 6,357 Exploration Integrated Gas, Refining Marketing 1 st half 2018 (adjustments) (a) & Renewables & & Corporate Intercompany Total (M$) Production & Power Chemicals Services Non-Group sales — 13 — — — — 13 Intersegment sales — — — — — — — Excise taxes — — — — — — — Revenues from sales — 13 — — — — 13 Operating expenses (150) (101) 531 105 (9) — 376 Depreciation, depletion and impairment of tangible assets and mineral interests — (446) — — — — (446) Operating income (b) (150) (534) 531 105 (9) — (57) Net income (loss) from equity affiliates and other items (167) (15) 25 — — — (157) Tax on net operating income 121 (21) (158) (35) — — (93) Net operating income (b) (196) (570) 398 70 (9) — (307) Net cost of net debt (19) Non-controlling interests 246 Net income - group share (80) (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 — — 531 105 — - On net operating income — — 415 70 — Exploration Integrated Gas, Refining Marketing 1 st half 2018 (adjusted) & Renewables & & Corporate Intercompany Total (M$) Production & Power Chemicals Services Non-Group sales 5,337 7,874 45,088 43,836 3 — 102,138 Intersegment sales 14,423 961 17,396 491 34 (33,305) — Excise taxes — — (1,714) (11,043) — — (12,757) Revenues from sales 19,760 8,835 60,770 33,284 37 (33,305) 89,381 Operating expenses (8,571) (8,022) (58,779) (32,024) (390) 33,305 (74,481) Depreciation, depletion and impairment of tangible assets and mineral interests (4,561) (361) (617) (346) (20) — (5,905) Adjusted operating income 6,628 452 1,374 914 (373) — 8,995 Net income (loss) from equity affiliates and other items 744 810 392 193 9 — 2,148 Tax on net operating income (3,240) (216) (225) (262) 181 — (3,762) Adjusted net operating income 4,132 1,046 1,541 845 (183) — 7,381 Net cost of net debt (772) Non-controlling interests (172) Adjusted net income - group share 6,437 Exploration Integrated Gas, Refining Marketing 1 st half 2018 & Renewables & & Corporate Intercompany Total (M$) Production & Power Chemicals Services Total expenditures 8,157 1,022 736 538 58 — 10,511 Total divestments 2,642 592 349 273 3 — 3,859 Cash flow from operating activities 7,796 326 (110) 781 (466) — 8,327 Exploration Integrated Gas, Refining Marketing 2 nd quarter 2019 & Renewables & & Corporate Intercompany Total (M$) Production & Power Chemicals Services Non-Group sales 2,273 3,789 22,509 22,671 — — 51,242 Intersegment sales 7,586 632 8,293 139 36 (16,686) — Excise taxes — — (761) (5,279) — — (6,040) Revenues from sales 9,859 4,421 30,041 17,531 36 (16,686) 45,202 Operating expenses (4,205) (3,878) (29,168) (16,844) (229) 16,686 (37,638) Depreciation, depletion and impairment of tangible assets and mineral interests (2,687) (328) (389) (237) (20) — (3,661) Operating income 2,967 215 484 450 (213) — 3,903 Net income (loss) from equity affiliates and other items 173 661 111 111 26 — 1,082 Tax on net operating income (1,161) (450) 46 (170) 64 — (1,671) Net operating income 1,979 426 641 391 (123) — 3,314 Net cost of net debt (510) Non-controlling interests (48) Net income - group share 2,756 Exploration Integrated Gas, Refining Marketing 2 nd quarter 2019 (adjustments) (a) & Renewables & & Corporate Intercompany Total (M$) Production & Power Chemicals Services Non-Group sales — (59) — — — — (59) Intersegment sales — — — — — — — Excise taxes — — — — — — — Revenues from sales — (59) — — — — (59) Operating expenses — (54) (43) (34) — — (131) Depreciation, depletion and impairment of tangible assets and mineral interests (43) (11) (10) — — — (64) Operating income (b) (43) (124) (53) (34) — — (254) Net income (loss) from equity affiliates and other items — 407 (49) (7) — — 351 Tax on net operating income — (286) 28 9 — — (249) Net operating income (b) (43) (3) (74) (32) — — (152) Net cost of net debt (4) Non-controlling interests 25 Net income - group share (131) (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 — — (6) (34) — - On net operating income — — (1) (25) — Exploration Integrated Gas, Refining Marketing 2 nd quarter 2019 (adjusted) & Renewables & & Corporate Intercompany Total (M$) Production & Power Chemicals Services Non-Group sales 2,273 3,848 22,509 22,671 — — 51,301 Intersegment sales 7,586 632 8,293 139 36 (16,686) — Excise taxes — — (761) (5,279) — — (6,040) Revenues from sales 9,859 4,480 30,041 17,531 36 (16,686) 45,261 Operating expenses (4,205) (3,824) (29,125) (16,810) (229) 16,686 (37,507) Depreciation, depletion and impairment of tangible assets and mineral interests (2,644) (317) (379) (237) (20) — (3,597) Adjusted operating income 3,010 339 537 484 (213) — 4,157 Net income (loss) from equity affiliates and other items 173 254 160 118 26 — 731 Tax on net operating income (1,161) (164) 18 (179) 64 — (1,422) Adjusted net operating income 2,022 429 715 423 (123) — 3,466 Net cost of net debt (506) Non-controlling interests (73) Adjusted net income - group share 2,887 Exploration Integrated Gas, Refining Marketing 2 nd quarter 2019 & Renewables & & Corporate Intercompany Total (M$) Production & Power Chemicals Services Total expenditures 2,257 857 363 383 36 3,896 Total divestments 60 349 70 85 1 565 Cash flow from operating activities 3,768 641 1,658 611 (427) 6,251 Exploration Integrated Gas, 2 nd quarter 2018 & Renewables Refining & Marketing & (M$) Production & Power Chemicals Services Corporate Intercompany Total Non-Group sales 3,119 3,547 23,349 22,528 (3) — 52,540 Intersegment sales 7,646 469 9,440 293 (63) (17,785) — Excise taxes — — (867) (5,571) — — (6,438) Revenues from sales 10,765 4,016 31,922 17,250 (66) (17,785) 46,102 Operating expenses (4,791) (3,605) (30,369) (16,416) (122) 17,785 (37,518) Depreciation, depletion and impairment of tangible assets and mineral interests (2,345) (603) (304) (172) (11) — (3,435) Operating income 3,629 (192) 1,249 662 (199) — 5,149 Net income (loss) from equity affiliates and other items 256 441 289 107 11 — 1,104 Tax on net operating income (1,687) (104) (279) (194) 85 — (2,179) Net operating income 2,198 145 1,259 575 (103) — 4,074 Net cost of net debt (440) Non-controlling interests 87 Net income - group share 3,721 Exploration Integrated Gas, 2 nd quarter 2018 (adjustments) (a) & Renewables Refining & Marketing & (M$) Production & Power Chemicals Services Corporate Intercompany Total Non-Group sales — 24 — — — — 24 Intersegment sales — — — — — — — Excise taxes — — — — — — — Revenues from sales — 24 — — — — 24 Operating expenses (97) (9) 569 134 — — 597 Depreciation, depletion and impairment of tangible assets and mineral interests — (424) — — — — (424) Operating income (b) (97) (409) 569 134 — — 197 Net income (loss) from equity affiliates and other items (66) (4) 46 1 — — (23) Tax on net operating income 46 (7) (177) (38) — — (176) Net operating income (b) (117) (420) 438 97 — — (2) Net cost of net debt (9) Non-controlling interests 179 Net income - group share 168 (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 — — 569 134 — - On net operating income — — 438 97 — Exploration Integrated Gas, 2 nd quarter 2018 (adjusted) & Renewables Refining & Marketing & (M$) Production & Power Chemicals Services Corporate Intercompany Total Non-Group sales 3,119 3,523 23,349 22,528 (3) — 52,516 Intersegment sales 7,646 469 9,440 293 (63) (17,785) — Excise taxes — — (867) (5,571) — - (6,438) Revenues from sales 10,765 3,992 31,922 17,250 (66) (17,785) 46,078 Operating expenses (4,694) (3,596) (30,938) (16,550) (122) 17,785 (38,115) Depreciation, depletion and impairment of tangible assets and mineral interests (2,345) (179) (304) (172) (11) — (3,011) Adjusted operating income 3,726 217 680 528 (199) — 4,952 Net income (loss) from equity affiliates and other items 322 445 243 106 11 — 1,127 Tax on net operating income (1,733) (97) (102) (156) 85 — (2,003) Adjusted net operating income 2,315 565 821 478 (103) — 4,076 Net cost of net debt (431) Non-controlling interests (92) Adjusted net income - group share 3,553 Exploration Integrated Gas, 2 nd quarter 2018 & Renewables Refining & Marketing & (M$) Production & Power Chemicals Services Corporate Intercompany Total Total expenditures 2,612 447 404 310 14 3,787 Total divestments 466 439 324 45 — 1,274 Cash flow from operating activities 4,474 258 999 841 (326) 6,246

Reconciliation of the informa_2

Reconciliation of the information by business segment with consolidated financial statements (Tables)	6 Months Ended
	Jun. 30, 2019
Reconciliation of the information by business segment with consolidated financial statements
Schedule of reconciliation of the information by business segment with consolidated financial statements	Consolidated 1 st half 2019 statement (M$) Adjusted Adjustments (a) of income Sales 102,533 (86) 102,447 Excise taxes (12,121) — (12,121) Revenues from sales 90,412 (86) 90,326 Purchases net of inventory variation (60,533) 422 (60,111) Other operating expenses (13,758) (45) (13,803) Exploration costs (458) — (458) Depreciation, depletion and impairment of tangible assets and mineral interests (7,063) (64) (7,127) Other income 453 115 568 Other expense (190) (208) (398) Financial interest on debt (1,121) (8) (1,129) Financial income and expense from cash & cash equivalents (70) — (70) Cost of net debt (1,191) (8) (1,199) Other financial income 486 — 486 Other financial expense (383) — (383) Net income (loss) from equity affiliates 1,071 452 1,523 Income taxes (3,076) (404) (3,480) Consolidated net income 5,770 174 5,944 Group share 5,646 221 5,867 Non-controlling interests 124 (47) 77 (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. Consolidated 1 st half 2018 statement (M$) Adjusted Adjustments (a) of income Sales 102,138 13 102,151 Excise taxes (12,757) — (12,757) Revenues from sales 89,381 13 89,394 Purchases net of inventory variation (60,623) 578 (60,045) Other operating expenses (13,496) (202) (13,698) Exploration costs (362) — (362) Depreciation, depletion and impairment of tangible assets and mineral interests (5,905) (446) (6,351) Other income 628 147 775 Other expense (115) (488) (603) Financial interest on debt (849) (19) (868) Financial income and expense from cash & cash equivalents (95) — (95) Cost of net debt (944) (19) (963) Other financial income 561 — 561 Other financial expense (329) — (329) Net income (loss) from equity affiliates 1,403 184 1,587 Income taxes (3,590) (93) (3,683) Consolidated net income 6,609 (326) 6,283 Group share 6,437 (80) 6,357 Non-controlling interests 172 (246) (74) (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. Consolidated 2 nd quarter 2019 statement (M$) Adjusted Adjustments (a) of income Sales 51,301 (59) 51,242 Excise taxes (6,040) — (6,040) Revenues from sales 45,261 (59) 45,202 Purchases net of inventory variation (30,295) (95) (30,390) Other operating expenses (7,042) (36) (7,078) Exploration costs (170) — (170) Depreciation, depletion and impairment of tangible assets and mineral interests (3,597) (64) (3,661) Other income 253 68 321 Other expense (117) (72) (189) Financial interest on debt (564) (4) (568) Financial income and expense from cash & cash equivalents (42) — (42) Cost of net debt (606) (4) (610) Other financial income 326 — 326 Other financial expense (188) — (188) Net income (loss) from equity affiliates 457 355 812 Income taxes (1,322) (249) (1,571) Consolidated net income 2,960 (156) 2,804 Group share 2,887 (131) 2,756 Non-controlling interests 73 (25) 48 (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. Consolidated 2 nd quarter 2018 statement (M$) Adjusted Adjustments (a) of income Sales 52,516 24 52,540 Excise taxes (6,438) — (6,438) Revenues from sales 46,078 24 46,102 Purchases net of inventory variation (31,263) 664 (30,599) Other operating expenses (6,694) (67) (6,761) Exploration costs (158) — (158) Depreciation, depletion and impairment of tangible assets and mineral interests (3,011) (424) (3,435) Other income 254 (2) 252 Other expense (55) (358) (413) Financial interest on debt (469) (9) (478) Financial income and expense from cash & cash equivalents (54) — (54) Cost of net debt (523) (9) (532) Other financial income 321 — 321 Other financial expense (159) — (159) Net income (loss) from equity affiliates 766 337 1,103 Income taxes (1,911) (176) (2,087) Consolidated net income 3,645 (11) 3,634 Group share 3,553 168 3,721 Non-controlling interests 92 (179) (87) Adjustments include special items, inventory valuation effect and the effect of changes in fair value.

Accounting policies (Details)

Accounting policies (Details) - USD ($) $ in Millions	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Jun. 30, 2018
Accounting policies
Fixed assets	$ 118,063	$ 117,881	$ 113,324	$ 114,047
Weighted average incremental borrowing rate			4.50%
Increase/decrease due to application of IFRS 16
Accounting policies
Fixed assets			$ 5,698
Net debt			(5,505)
Other assets and liabilities			(193)
Right of use			5,698
Increase/decrease due to application of IFRS 16 | Buildings
Accounting policies
Right of use			2,278
Increase/decrease due to application of IFRS 16 | Machinery, plant and equipment
Accounting policies
Right of use			2,632
Increase/decrease due to application of IFRS 16 | Other
Accounting policies
Right of use			$ 788

Changes in the Group structure

Changes in the Group structure - Main acquisitions and divestments (Details)	Apr. 01, 2019	Mar. 31, 2019	Mar. 15, 2019	Mar. 14, 2019	Mar. 04, 2019
Danish Underground Consortium
Main acquisitions and divestments
Proportion of ownership interest in associate	43.20%	31.20%
Chevron Denmark Inc. | Danish Underground Consortium
Main acquisitions and divestments
Percentage of interest acquired	12.00%
Chevron Denmark Inc. | Licence 8/06
Main acquisitions and divestments
Percentage of interest acquired	12.00%
Chevron Denmark Inc. | Tyra West pipeline
Main acquisitions and divestments
Percentage of interest acquired	7.50%
Arctic LNG 2
Main acquisitions and divestments
Percentage of interest acquired					10.00%
Ichthys LNG project
Main acquisitions and divestments
Percentage of interest sold			4.00%
Proportion of ownership interest in joint venture			26.00%	30.00%

Adjustment items (Details)

Adjustment items (Details) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)segment	Jun. 30, 2018USD ($)
Business segment information
Number of business segments | segment				4
Operating income	$ 3,903		$ 5,149	$ 8,827	$ 8,938
Net income, Group share	2,756	$ 3,111	3,721	5,867	6,357
Adjustments
Business segment information
Operating income	(254)		197	227	(57)
Net income, Group share	(131)		168	221	(80)
Adjustments - Inventory valuation effect
Business segment information
Operating income	(40)		703	526	636
Net income, Group share	(28)		517	360	472
Adjustments - Effect of changes in fair value
Business segment information
Operating income	(59)		16	(86)	5
Net income, Group share	(47)		9	(69)	1
Adjustments - Restructuring charges
Business segment information
Operating income					(53)
Net income, Group share	(31)		(46)	(33)	(67)
Adjustments - Asset impairment charges
Business segment information
Operating income	(64)		(424)	(64)	(446)
Net income, Group share	(57)		(236)	(57)	(248)
Adjustments - Gains (losses) on disposals of assets
Business segment information
Net income, Group share			(2)		(103)
Adjustments - Other items
Business segment information
Operating income	(91)		(98)	(149)	(199)
Net income, Group share	32		(74)	20	(135)
Exploration & Production | Adjustments
Business segment information
Operating income	(43)		(97)	(43)	(150)
Net income, Group share	(43)		(117)	(43)	(196)
Exploration & Production | Adjustments - Restructuring charges
Business segment information
Operating income					(53)
Net income, Group share			(44)		(59)
Exploration & Production | Adjustments - Asset impairment charges
Business segment information
Operating income	(43)			(43)
Net income, Group share	(43)			(43)
Exploration & Production | Adjustments - Gains (losses) on disposals of assets
Business segment information
Net income, Group share			(2)		(103)
Exploration & Production | Adjustments - Other items
Business segment information
Operating income			(97)		(97)
Net income, Group share			(71)		(34)
Integrated Gas, Renewables and Power | Adjustments
Business segment information
Operating income	(124)		(409)	(209)	(534)
Net income, Group share	19		(232)	(17)	(330)
Integrated Gas, Renewables and Power | Adjustments - Effect of changes in fair value
Business segment information
Operating income	(59)		16	(86)	5
Net income, Group share	(47)		9	(69)	1
Integrated Gas, Renewables and Power | Adjustments - Restructuring charges
Business segment information
Net income, Group share	(14)		(2)	(16)	(8)
Integrated Gas, Renewables and Power | Adjustments - Asset impairment charges
Business segment information
Operating income	(11)		(424)	(11)	(446)
Net income, Group share	(6)		(236)	(6)	(248)
Integrated Gas, Renewables and Power | Adjustments - Other items
Business segment information
Operating income	(54)		(1)	(112)	(93)
Net income, Group share	86		(3)	74	(75)
Refining & Chemicals | Adjustments
Business segment information
Operating income	(53)		569	439	531
Net income, Group share	(76)		436	268	395
Refining & Chemicals | Adjustments - Inventory valuation effect
Business segment information
Operating income	(6)		569	486	531
Net income, Group share	(3)		436	341	412
Refining & Chemicals | Adjustments - Restructuring charges
Business segment information
Net income, Group share	(17)			(17)
Refining & Chemicals | Adjustments - Asset impairment charges
Business segment information
Operating income	(10)			(10)
Net income, Group share	(8)			(8)
Refining & Chemicals | Adjustments - Other items
Business segment information
Operating income	(37)			(37)
Net income, Group share	(48)			(48)	(17)
Marketing & Services | Adjustments
Business segment information
Operating income	(34)		134	40	105
Net income, Group share	(31)		81	13	60
Marketing & Services | Adjustments - Inventory valuation effect
Business segment information
Operating income	(34)		134	40	105
Net income, Group share	(25)		$ 81	19	60
Marketing & Services | Adjustments - Other items
Business segment information
Net income, Group share	$ (6)			$ (6)
Corporate | Adjustments
Business segment information
Operating income					(9)
Net income, Group share					(9)
Corporate | Adjustments - Other items
Business segment information
Operating income					(9)
Net income, Group share					$ (9)

Shareholders' equity - Treasury

Shareholders' equity - Treasury shares (Details) - TOTAL S.A.	Jun. 30, 2019shares
Treasury shares	64,800,717
Percentage of share capital represented by treasury shares	2.43%
Shares to be cancelled	57,130,510
Shares to be allocated as part of free share grant plans	7,670,207
2016 Plan
Shares to be allocated as part of free share grant plans	4,683,986
2017 Plan
Shares to be allocated as part of free share grant plans	2,918,835
Other Plans
Shares to be allocated as part of free share grant plans	67,386
Shares repurchased during Q4 2018
Shares to be cancelled	27,360,278
Shares repurchased during Q1 2019
Shares to be cancelled	7,374,542
Shares repurchased during Q2 2019
Shares to be cancelled	22,395,690

Shareholders' equity - Dividend

Shareholders' equity - Dividend (Details)	Jan. 08, 2020€ / shares	Oct. 01, 2019€ / shares	Jul. 24, 2019€ / shares	Jun. 13, 2019€ / shares	May 29, 2019item€ / shares	Apr. 05, 2019€ / sharesshares	Jan. 10, 2019€ / sharesshares	Oct. 12, 2018€ / sharesshares	Jun. 30, 2019
Dividend
Number of quarterly interim dividends paid for the 2018 fiscal year | item					3
Dividend approved for the 2018 fiscal year (in Euros per share)					€ 2.56
Number of trading days to determine stock dividend price									20 days
First interim
Dividend
Dividend paid (in Euros per share)		€ 0.66						€ 0.64
Issue price for dividend paid in shares (in Euros per share)								€ 52.95
Number of shares subscribed | shares								18,783,197
Second interim
Dividend
Dividend paid (in Euros per share)	€ 0.66						€ 0.64
Issue price for dividend paid in shares (in Euros per share)							€ 48.27
Number of shares subscribed | shares							1,212,767
Interim dividend set by Board of Directors (in Euros per share)			€ 0.66
Third interim
Dividend
Dividend paid (in Euros per share)						€ 0.64
Issue price for dividend paid in shares (in Euros per share)						€ 49.30
Number of shares subscribed | shares						14,864,169
Final
Dividend
Dividend paid (in Euros per share)				€ 0.64

Shareholders' equity - Earnings

Shareholders' equity - Earnings per share (Details)	3 Months Ended						6 Months Ended
	Jun. 30, 2019€ / shares	Jun. 30, 2019$ / shares	Mar. 31, 2019€ / shares	Mar. 31, 2019$ / shares	Jun. 30, 2018€ / shares	Jun. 30, 2018$ / shares	Jun. 30, 2019$ / shares	Jun. 30, 2018$ / shares
Earnings per share in euros
Earnings per share (in dollars or Euros per share) | (per share)	€ 0.89	$ 1.01	€ 1.03	$ 1.17	€ 1.16	$ 1.38	$ 2.17	$ 2.39
Diluted earnings per share (in dollars or Euros per share) | (per share)	€ 0.89	$ 1	€ 1.02	$ 1.16	€ 1.16	$ 1.38	$ 2.16	$ 2.38

Shareholders' equity - Perpetua

Shareholders' equity - Perpetual subordinated notes (Details) € in Millions	Apr. 30, 2019EUR (€)
Perpetual subordinated notes issued, 1.750%, callable in 2024
Shareholders' equity
Interest rate (as percent)	1.75%
Principal amount	€ 1,500
Perpetual subordinated notes tendered, 2.250%, callable in 2021
Shareholders' equity
Interest rate (as percent)	2.25%
Principal amount	€ 1,500

Shareholders' equity - Other co

Shareholders' equity - Other comprehensive income (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018
Shareholders' equity
Actuarial gains and losses	$ (223)	$ 164	$ 42	$ (59)		$ 67
Change in fair value of investments in equity instruments	74	33	(2)	107		5
Tax effect	59	(45)	(20)	14		(18)
Currency translation adjustment generated by the parent company	1,057	(1,531)	(4,761)	(474)		(2,630)
Items not potentially reclassifiable to profit and loss	967	(1,379)	(4,741)	(412)		(2,576)
Currency translation adjustment	(619)	806	1,330	187		968
Unrealized gain/(loss) of the period				233		1,078
Less gain/(loss) included in net income				46		110
Cash flow hedge	(246)	(127)	77	(373)		255
Unrealized gain/(loss) of the period				(303)		142
Less gain/(loss) included in net income				70		(113)
Variation of foreign currency basis spread	43	11	2	54		(27)
unrealized gain/(loss) of the period				25		(27)
less gain/(loss) included in net income				(29)
Share of other comprehensive income of equity affiliates, net amount	(135)	388	36	253		(132)
Unrealized gain/(loss) of the period				265		(93)
Less gain/(loss) included in net income				12		39
Other	1	1	(2)	2		(2)
Tax effect	69	38	(27)	107		(75)
Sub-total items potentially reclassifiable to profit and loss	(887)	1,117	1,416	230		987
Total other comprehensive income, net amount	$ 80	$ (262)	$ (3,325)	$ (182)	$ (1,905)	$ (1,589)

Shareholders' equity - Tax effe

Shareholders' equity - Tax effects of other comprehensive income (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018
Pre-tax amount
Actuarial gains and losses	$ (223)	$ 164	$ 42	$ (59)		$ 67
Change in fair value of investments in equity instruments	74	33	(2)	107		5
Currency translation adjustment generated by the parent company	1,057	(1,531)	(4,761)	(474)		(2,630)
Sub-total items not potentially reclassifiable to profit and loss				(426)		(2,558)
Currency translation adjustment	(619)	806	1,330	187		968
Cash flow hedge	(246)	(127)	77	(373)		255
Variation of foreign currency basis spread	43	11	2	54		(27)
Share of other comprehensive income of equity affiliates, net amount				253		(132)
Other	1	1	(2)	2		(2)
Sub-total items potentially reclassifiable to profit and loss				123		1,062
Total other comprehensive income				(303)		(1,496)
Tax effect
Actuarial gains and losses				16		(18)
Change in fair value of investments in equity instruments				(2)
Sub-total items not potentially reclassifiable to profit and loss	59	(45)	(20)	14		(18)
Cash flow hedge				125		(81)
Variation of foreign currency basis spread				(18)		6
Sub-total items potentially reclassifiable to profit and loss	69	38	(27)	107		(75)
Total other comprehensive income				121		(93)
Net amount
Actuarial gains and losses				(43)		49
Change in fair value of investments in equity instruments				105		5
Currency translation adjustment generated by the parent company	1,057	(1,531)	(4,761)	(474)		(2,630)
Items not potentially reclassifiable to profit and loss	967	(1,379)	(4,741)	(412)		(2,576)
Currency translation adjustment				187		968
Cash flow hedge				(248)		174
Variation of foreign currency basis spread				36		(21)
Share of other comprehensive income of equity affiliates, net amount	(135)	388	36	253		(132)
Other				2		(2)
Items potentially reclassifiable to profit and loss	(887)	1,117	1,416	230		987
Total other comprehensive income (net amount)	$ 80	$ (262)	$ (3,325)	$ (182)	$ (1,905)	$ (1,589)

Financial debt (Details)

Financial debt (Details) € in Millions, £ in Millions, SFr in Millions, $ in Millions, $ in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2019HKD ($)	Jun. 30, 2019AUD ($)	Jun. 30, 2019GBP (£)	Jun. 30, 2019CHF (SFr)	Jun. 30, 2019EUR (€)	Jun. 30, 2019USD ($)	Dec. 31, 2018USD ($)
Increase/decrease due to application of IFRS 16
Financial debt
Financial debt							$ 5,555
Sub-lease financial asset							50
Net debt							$ 5,505
USD Bond 3.455% 2019-2029
Financial debt
Amount of bonds issued						$ 1,250
Interest rate (as percent)	3.455%	3.455%	3.455%	3.455%	3.455%	3.455%
GBP Bond 1.660% 2019-2026
Financial debt
Amount of bonds issued | £			£ 500
Interest rate (as percent)	1.66%	1.66%	1.66%	1.66%	1.66%	1.66%
Euro Bond 0.696% 2019-2028
Financial debt
Amount of bonds issued | €					€ 650
Interest rate (as percent)	0.696%	0.696%	0.696%	0.696%	0.696%	0.696%
Euro Bond 1.535% 2019-2039
Financial debt
Amount of bonds issued | €					€ 650
Interest rate (as percent)	1.535%	1.535%	1.535%	1.535%	1.535%	1.535%
CHF Bond 0.166% 2019-2029
Financial debt
Amount of bonds issued | SFr				SFr 200
Interest rate (as percent)	0.166%	0.166%	0.166%	0.166%	0.166%	0.166%
Euro Bond 4.875 % Issued in 2009, Maturing January 2019
Financial debt
Interest rate (as percent)	4.875%	4.875%	4.875%	4.875%	4.875%	4.875%
Amount of bonds reimbursed | €					€ 1,200
USD Bond 2.125 % Issued in 2014, Maturing January 2019
Financial debt
Interest rate (as percent)	2.125%	2.125%	2.125%	2.125%	2.125%	2.125%
Amount of bonds reimbursed						$ 750
AUD Bond 4.125 % Issued in 2014, Maturing March 2019
Financial debt
Interest rate (as percent)	4.125%	4.125%	4.125%	4.125%	4.125%	4.125%
Amount of bonds reimbursed		$ 150
HKD Bond 4.180 % Issued in 2009, Maturing June 2019
Financial debt
Interest rate (as percent)	4.18%	4.18%	4.18%	4.18%	4.18%	4.18%
Amount of bonds reimbursed	$ 750
USD Bond 2.100 % Issued in 2014, Maturing June 2019
Financial debt
Interest rate (as percent)	2.10%	2.10%	2.10%	2.10%	2.10%	2.10%
Amount of bonds reimbursed						$ 1,000
USD Bond 3-month Libor + 35 basis points Issued in 2014, Maturing June 2019
Financial debt
Amount of bonds reimbursed						$ 250
Interest rate basis	3-month Libor	3-month Libor	3-month Libor	3-month Libor	3-month Libor	3-month Libor
Adjustment to interest rate basis (as a percent)	0.35%	0.35%	0.35%	0.35%	0.35%	0.35%
AUD Bond 3.750 % Issued in 2014, Maturing June 2019
Financial debt
Interest rate (as percent)	3.75%	3.75%	3.75%	3.75%	3.75%	3.75%
Amount of bonds reimbursed		$ 100

Related parties (Details)

Related parties (Details)	Mar. 31, 2019	Mar. 31, 2019
Arctic LNG 2
Related parties
Percentage of interest acquired		10.00%
Novatek
Related parties
Proportion of ownership interest in associate	19.40%

Other risks and contingent li_2

Other risks and contingent liabilities (Details)	Apr. 28, 2016employee	Jun. 30, 2019company
Yemen LNG Company Limited
Disclosure of contingent liabilities
Stake held in associate (as a percent)		39.62%
Contingent liabilities - legal proceedings | FERC
Disclosure of contingent liabilities
Number of companies involved in class action lawsuit | company		3
Contingent liabilities - legal proceedings | FERC | Total Gas & Power North America Inc.
Disclosure of contingent liabilities
Number of former employees issued order to show cause | employee	2

Information by business segme_3

Information by business segment (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Business segment information
Sales	$ 51,242	$ 51,205	$ 52,540	$ 102,447	$ 102,151
Excise taxes	(6,040)	(6,081)	(6,438)	(12,121)	(12,757)
Revenues from sales	45,202	45,124	46,102	90,326	89,394
Operating expenses	(37,638)		(37,518)	(74,372)	(74,105)
Depreciation, depletion and impairment of tangible assets and mineral interests	(3,661)	(3,466)	(3,435)	(7,127)	(6,351)
Operating income	3,903		5,149	8,827	8,938
Net income (loss) from equity affiliates and other items	1,082		1,104	1,796	1,991
Tax on net operating income	(1,671)		(2,179)	(3,664)	(3,855)
Net operating income	3,314		4,074	6,959	7,074
Net cost of net debt	(510)		(440)	(1,015)	(791)
Non-controlling interests	(48)	(29)	87	(77)	74
Net income, Group share	2,756	3,111	3,721	5,867	6,357
Total expenditures	3,896	3,587	3,787	7,483	10,511
Total divestments	565	497	1,274	1,062	3,859
Cash flow from operating activities	6,251	$ 3,629	6,246	9,880	8,327
Intercompany
Business segment information
Sales	(16,686)		(17,785)	(33,235)	(33,305)
Revenues from sales	(16,686)		(17,785)	(33,235)	(33,305)
Operating expenses	16,686		17,785	33,235	33,305
Exploration & Production
Business segment information
Sales	2,273		3,119	4,067	5,337
Total expenditures	2,257		2,612	4,282	8,157
Total divestments	60		466	89	2,642
Cash flow from operating activities	3,768		4,474	7,704	7,796
Exploration & Production | Business segments and Corporate
Business segment information
Revenues from sales	9,859		10,765	19,369	19,760
Operating expenses	(4,205)		(4,791)	(8,234)	(8,721)
Depreciation, depletion and impairment of tangible assets and mineral interests	(2,687)		(2,345)	(5,216)	(4,561)
Operating income	2,967		3,629	5,919	6,478
Net income (loss) from equity affiliates and other items	173		256	367	577
Tax on net operating income	(1,161)		(1,687)	(2,585)	(3,119)
Net operating income	1,979		2,198	3,701	3,936
Exploration & Production | Intercompany
Business segment information
Sales	(7,586)		(7,646)	(15,302)	(14,423)
Integrated Gas, Renewables and Power
Business segment information
Sales	3,789		3,547	10,208	7,887
Total expenditures	857		447	1,975	1,022
Total divestments	349		439	574	592
Cash flow from operating activities	641		258	1,533	326
Integrated Gas, Renewables and Power | Business segments and Corporate
Business segment information
Revenues from sales	4,421		4,016	11,467	8,848
Operating expenses	(3,878)		(3,605)	(10,287)	(8,123)
Depreciation, depletion and impairment of tangible assets and mineral interests	(328)		(603)	(643)	(807)
Operating income	215		(192)	537	(82)
Net income (loss) from equity affiliates and other items	661		441	1,041	795
Tax on net operating income	(450)		(104)	(623)	(237)
Net operating income	426		145	955	476
Integrated Gas, Renewables and Power | Intercompany
Business segment information
Sales	(632)		(469)	(1,259)	(961)
Refining & Chemicals
Business segment information
Sales	22,509		23,349	44,220	45,088
Excise taxes	(761)		(867)	(1,537)	(1,714)
Total expenditures	363		404	648	736
Total divestments	70		324	239	349
Cash flow from operating activities	1,658		999	1,120	(110)
Refining & Chemicals | Business segments and Corporate
Business segment information
Revenues from sales	30,041		31,922	58,993	60,770
Operating expenses	(29,168)		(30,369)	(56,502)	(58,248)
Depreciation, depletion and impairment of tangible assets and mineral interests	(389)		(304)	(763)	(617)
Operating income	484		1,249	1,728	1,905
Net income (loss) from equity affiliates and other items	111		289	260	417
Tax on net operating income	46		(279)	(246)	(383)
Net operating income	641		1,259	1,742	1,939
Refining & Chemicals | Intercompany
Business segment information
Sales	(8,293)		(9,440)	(16,310)	(17,396)
Marketing & Services
Business segment information
Sales	22,671		22,528	43,950	43,836
Excise taxes	(5,279)		(5,571)	(10,584)	(11,043)
Total expenditures	383		310	527	538
Total divestments	85		45	157	273
Cash flow from operating activities	611		841	843	781
Marketing & Services | Business segments and Corporate
Business segment information
Revenues from sales	17,531		17,250	33,667	33,284
Operating expenses	(16,844)		(16,416)	(32,178)	(31,919)
Depreciation, depletion and impairment of tangible assets and mineral interests	(237)		(172)	(470)	(346)
Operating income	450		662	1,019	1,019
Net income (loss) from equity affiliates and other items	111		107	101	193
Tax on net operating income	(170)		(194)	(334)	(297)
Net operating income	391		575	786	915
Marketing & Services | Intercompany
Business segment information
Sales	(139)		(293)	(301)	(491)
Corporate
Business segment information
Sales			(3)	2	3
Total expenditures	36		14	51	58
Total divestments	1			3	3
Cash flow from operating activities	(427)		(326)	(1,320)	(466)
Corporate | Business segments and Corporate
Business segment information
Revenues from sales	36		(66)	65	37
Operating expenses	(229)		(122)	(406)	(399)
Depreciation, depletion and impairment of tangible assets and mineral interests	(20)		(11)	(35)	(20)
Operating income	(213)		(199)	(376)	(382)
Net income (loss) from equity affiliates and other items	26		11	27	9
Tax on net operating income	64		85	124	181
Net operating income	(123)		(103)	(225)	(192)
Corporate | Intercompany
Business segment information
Sales	(36)		63	(63)	(34)
Adjustments
Business segment information
Sales	(59)		24	(86)	13
Revenues from sales	(59)		24	(86)	13
Operating expenses	(131)		597	377	376
Depreciation, depletion and impairment of tangible assets and mineral interests	(64)		(424)	(64)	(446)
Operating income	(254)		197	227	(57)
Net income (loss) from equity affiliates and other items	351		(23)	359	(157)
Tax on net operating income	(249)		(176)	(404)	(93)
Net operating income	(152)		(2)	182	(307)
Net cost of net debt	(4)		(9)	(8)	(19)
Non-controlling interests	25		179	47	246
Net income, Group share	(131)		168	221	(80)
Adjustments | Exploration & Production
Business segment information
Operating income	(43)		(97)	(43)	(150)
Net income, Group share	(43)		(117)	(43)	(196)
Adjustments | Exploration & Production | Business segments and Corporate
Business segment information
Operating expenses			(97)		(150)
Depreciation, depletion and impairment of tangible assets and mineral interests	(43)			(43)
Operating income	(43)		(97)	(43)	(150)
Net income (loss) from equity affiliates and other items			(66)		(167)
Tax on net operating income			46		121
Net operating income	(43)		(117)	(43)	(196)
Adjustments | Integrated Gas, Renewables and Power
Business segment information
Sales	(59)		24	(86)	13
Operating income	(124)		(409)	(209)	(534)
Net income, Group share	19		(232)	(17)	(330)
Adjustments | Integrated Gas, Renewables and Power | Business segments and Corporate
Business segment information
Revenues from sales	(59)		24	(86)	13
Operating expenses	(54)		(9)	(112)	(101)
Depreciation, depletion and impairment of tangible assets and mineral interests	(11)		(424)	(11)	(446)
Operating income	(124)		(409)	(209)	(534)
Net income (loss) from equity affiliates and other items	407		(4)	413	(15)
Tax on net operating income	(286)		(7)	(270)	(21)
Net operating income	(3)		(420)	(66)	(570)
Adjustments | Refining & Chemicals
Business segment information
Operating income	(53)		569	439	531
Net income, Group share	(76)		436	268	395
Adjustments | Refining & Chemicals | Business segments and Corporate
Business segment information
Operating expenses	(43)		569	449	531
Depreciation, depletion and impairment of tangible assets and mineral interests	(10)			(10)
Operating income	(53)		569	439	531
Net income (loss) from equity affiliates and other items	(49)		46	(47)	25
Tax on net operating income	28		(177)	(121)	(158)
Net operating income	(74)		438	271	398
Adjustments | Marketing & Services
Business segment information
Operating income	(34)		134	40	105
Net income, Group share	(31)		81	13	60
Adjustments | Marketing & Services | Business segments and Corporate
Business segment information
Operating expenses	(34)		134	40	105
Operating income	(34)		134	40	105
Net income (loss) from equity affiliates and other items	(7)		1	(7)
Tax on net operating income	9		(38)	(13)	(35)
Net operating income	(32)		97	20	70
Adjustments | Corporate
Business segment information
Operating income					(9)
Net income, Group share					(9)
Adjustments | Corporate | Business segments and Corporate
Business segment information
Operating expenses					(9)
Operating income					(9)
Net operating income					(9)
Adjustments - Inventory valuation effect
Business segment information
Operating income	(40)		703	526	636
Net income, Group share	(28)		517	360	472
Adjustments - Inventory valuation effect | Refining & Chemicals
Business segment information
Operating income	(6)		569	486	531
Net income, Group share	(3)		436	341	412
Adjustments - Inventory valuation effect | Refining & Chemicals | Business segments and Corporate
Business segment information
Operating income	(6)		569	486	531
Net operating income	(1)		438	344	415
Adjustments - Inventory valuation effect | Marketing & Services
Business segment information
Operating income	(34)		134	40	105
Net income, Group share	(25)		81	19	60
Adjustments - Inventory valuation effect | Marketing & Services | Business segments and Corporate
Business segment information
Operating income	(34)		134	40	105
Net operating income	(25)		97	27	70
Adjusted
Business segment information
Sales	51,301		52,516	102,533	102,138
Excise taxes	(6,040)		(6,438)	(12,121)	(12,757)
Revenues from sales	45,261		46,078	90,412	89,381
Operating expenses	(37,507)		(38,115)	(74,749)	(74,481)
Depreciation, depletion and impairment of tangible assets and mineral interests	(3,597)		(3,011)	(7,063)	(5,905)
Operating income	4,157		4,952	8,600	8,995
Net income (loss) from equity affiliates and other items	731		1,127	1,437	2,148
Tax on net operating income	(1,422)		(2,003)	(3,260)	(3,762)
Net operating income	3,466		4,076	6,777	7,381
Net cost of net debt	(506)		(431)	(1,007)	(772)
Non-controlling interests	(73)		(92)	(124)	(172)
Net income, Group share	2,887		3,553	5,646	6,437
Adjusted | Intercompany
Business segment information
Sales	(16,686)		(17,785)	(33,235)	(33,305)
Revenues from sales	(16,686)		(17,785)	(33,235)	(33,305)
Operating expenses	16,686		17,785	33,235	33,305
Adjusted | Exploration & Production
Business segment information
Sales	2,273		3,119	4,067	5,337
Adjusted | Exploration & Production | Business segments and Corporate
Business segment information
Revenues from sales	9,859		10,765	19,369	19,760
Operating expenses	(4,205)		(4,694)	(8,234)	(8,571)
Depreciation, depletion and impairment of tangible assets and mineral interests	(2,644)		(2,345)	(5,173)	(4,561)
Operating income	3,010		3,726	5,962	6,628
Net income (loss) from equity affiliates and other items	173		322	367	744
Tax on net operating income	(1,161)		(1,733)	(2,585)	(3,240)
Net operating income	2,022		2,315	3,744	4,132
Adjusted | Exploration & Production | Intercompany
Business segment information
Sales	(7,586)		(7,646)	(15,302)	(14,423)
Adjusted | Integrated Gas, Renewables and Power
Business segment information
Sales	3,848		3,523	10,294	7,874
Adjusted | Integrated Gas, Renewables and Power | Business segments and Corporate
Business segment information
Revenues from sales	4,480		3,992	11,553	8,835
Operating expenses	(3,824)		(3,596)	(10,175)	(8,022)
Depreciation, depletion and impairment of tangible assets and mineral interests	(317)		(179)	(632)	(361)
Operating income	339		217	746	452
Net income (loss) from equity affiliates and other items	254		445	628	810
Tax on net operating income	(164)		(97)	(353)	(216)
Net operating income	429		565	1,021	1,046
Adjusted | Integrated Gas, Renewables and Power | Intercompany
Business segment information
Sales	(632)		(469)	(1,259)	(961)
Adjusted | Refining & Chemicals
Business segment information
Sales	22,509		23,349	44,220	45,088
Excise taxes	(761)		(867)	(1,537)	(1,714)
Adjusted | Refining & Chemicals | Business segments and Corporate
Business segment information
Revenues from sales	30,041		31,922	58,993	60,770
Operating expenses	(29,125)		(30,938)	(56,951)	(58,779)
Depreciation, depletion and impairment of tangible assets and mineral interests	(379)		(304)	(753)	(617)
Operating income	537		680	1,289	1,374
Net income (loss) from equity affiliates and other items	160		243	307	392
Tax on net operating income	18		(102)	(125)	(225)
Net operating income	715		821	1,471	1,541
Adjusted | Refining & Chemicals | Intercompany
Business segment information
Sales	(8,293)		(9,440)	(16,310)	(17,396)
Adjusted | Marketing & Services
Business segment information
Sales	22,671		22,528	43,950	43,836
Excise taxes	(5,279)		(5,571)	(10,584)	(11,043)
Adjusted | Marketing & Services | Business segments and Corporate
Business segment information
Revenues from sales	17,531		17,250	33,667	33,284
Operating expenses	(16,810)		(16,550)	(32,218)	(32,024)
Depreciation, depletion and impairment of tangible assets and mineral interests	(237)		(172)	(470)	(346)
Operating income	484		528	979	914
Net income (loss) from equity affiliates and other items	118		106	108	193
Tax on net operating income	(179)		(156)	(321)	(262)
Net operating income	423		478	766	845
Adjusted | Marketing & Services | Intercompany
Business segment information
Sales	(139)		(293)	(301)	(491)
Adjusted | Corporate
Business segment information
Sales			(3)	2	3
Adjusted | Corporate | Business segments and Corporate
Business segment information
Revenues from sales	36		(66)	65	37
Operating expenses	(229)		(122)	(406)	(390)
Depreciation, depletion and impairment of tangible assets and mineral interests	(20)		(11)	(35)	(20)
Operating income	(213)		(199)	(376)	(373)
Net income (loss) from equity affiliates and other items	26		11	27	9
Tax on net operating income	64		85	124	181
Net operating income	(123)		(103)	(225)	(183)
Adjusted | Corporate | Intercompany
Business segment information
Sales	$ (36)		$ 63	$ (63)	$ (34)

Reconciliation of the informa_3

Reconciliation of the information by business segment with consolidated financial statements (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018
Business segment information
Sales	$ 51,242	$ 51,205	$ 52,540	$ 102,447		$ 102,151
Excise taxes	(6,040)	(6,081)	(6,438)	(12,121)		(12,757)
Revenues from sales	45,202	45,124	46,102	90,326		89,394
Purchases, net of inventory variation	(30,390)	(29,721)	(30,599)	(60,111)		(60,045)
Other operating expenses	(7,078)	(6,725)	(6,761)	(13,803)		(13,698)
Exploration costs	(170)	(288)	(158)	(458)		(362)
Depreciation, depletion and impairment of tangible assets and mineral interests	(3,661)	(3,466)	(3,435)	(7,127)		(6,351)
Other income	321	247	252	568		775
Other expense	(189)	(209)	(413)	(398)		(603)
Financial interest on debt	(568)	(561)	(478)	(1,129)		(868)
Financial income and expense from cash & cash equivalents	(42)	(28)	(54)	(70)		(95)
Cost of net debt	(610)	(589)	(532)	(1,199)		(963)
Other financial income	326	160	321	486		561
Other financial expense	(188)	(195)	(159)	(383)		(329)
Net income (loss) from equity affiliates	812	711	1,103	1,523		1,587
Income taxes	(1,571)	(1,909)	(2,087)	(3,480)		(3,683)
Consolidated net income	2,804	3,140	3,634	5,944	$ 5,267	6,283
Group share	2,756	3,111	3,721	5,867		6,357
Non-controlling interests	48	$ 29	(87)	77		(74)
Adjusted
Business segment information
Sales	51,301		52,516	102,533		102,138
Excise taxes	(6,040)		(6,438)	(12,121)		(12,757)
Revenues from sales	45,261		46,078	90,412		89,381
Purchases, net of inventory variation	(30,295)		(31,263)	(60,533)		(60,623)
Other operating expenses	(7,042)		(6,694)	(13,758)		(13,496)
Exploration costs	(170)		(158)	(458)		(362)
Depreciation, depletion and impairment of tangible assets and mineral interests	(3,597)		(3,011)	(7,063)		(5,905)
Other income	253		254	453		628
Other expense	(117)		(55)	(190)		(115)
Financial interest on debt	(564)		(469)	(1,121)		(849)
Financial income and expense from cash & cash equivalents	(42)		(54)	(70)		(95)
Cost of net debt	(606)		(523)	(1,191)		(944)
Other financial income	326		321	486		561
Other financial expense	(188)		(159)	(383)		(329)
Net income (loss) from equity affiliates	457		766	1,071		1,403
Income taxes	(1,322)		(1,911)	(3,076)		(3,590)
Consolidated net income	2,960		3,645	5,770		6,609
Group share	2,887		3,553	5,646		6,437
Non-controlling interests	73		92	124		172
Adjustments
Business segment information
Sales	(59)		24	(86)		13
Revenues from sales	(59)		24	(86)		13
Purchases, net of inventory variation	(95)		664	422		578
Other operating expenses	(36)		(67)	(45)		(202)
Depreciation, depletion and impairment of tangible assets and mineral interests	(64)		(424)	(64)		(446)
Other income	68		(2)	115		147
Other expense	(72)		(358)	(208)		(488)
Financial interest on debt	(4)		(9)	(8)		(19)
Cost of net debt	(4)		(9)	(8)		(19)
Net income (loss) from equity affiliates	355		337	452		184
Income taxes	(249)		(176)	(404)		(93)
Consolidated net income	(156)		(11)	174		(326)
Group share	(131)		168	221		(80)
Non-controlling interests	$ (25)		$ (179)	$ (47)		$ (246)

Post closing (Details)

Post closing (Details) $ in Millions	Jul. 10, 2019USD ($)
Disposal of non-core assets
Post closing events
Agreed upon consideration for divestiture of non-core assets to Petrogas NEO UK Ltd.	$ 635