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Note 10 - Joint ventures and associates

Shell share of comprehensive income of joint ventures and associates

 

 

 

 

 

 

 

 

 

$ million

 

2021

2020

2019

 

Joint ventures

Associates

Total

Joint ventures

Associates

Total

Joint ventures

Associates

Total

Income for the period

1,955

2,142

4,097

629

1,154

1,783

1,121

2,483

3,604

Other comprehensive (loss)/income for the period

(106)

(106)

76

1

77

(82)

8

(74)

Comprehensive income for the period

1,849

2,142

3,991

705

1,155

1,860

1,039

2,491

3,530

Carrying amount of interests in joint ventures and associates

 

 

 

 

 

 

$ million

 

Dec 31, 2021

Dec 31, 2020

 

Joint ventures

Associates

Total

Joint ventures

Associates

Total

Net assets

15,767

7,648

23,415

14,406

8,045

22,451

Transactions with joint ventures and associates

 

 

 

$ million

 

2021 [A]

2020

2019

Sales and charges to joint ventures and associates

8,509

5,426

7,748

Purchases and charges from joint ventures and associates

13,584

8,262

11,581

[A]

Includes 26% of sales and 16% purchases of transactions with one joint venture operating in the oil trading business.

These transactions principally comprise sales and purchases of goods and services in the ordinary course of business. Related balances outstanding at December 31, 2021, and 2020, are presented in Notes 12 and 16.

Other arrangements in respect of joint ventures and associates

 

 

$ million

 

Dec 31, 2021

Dec 31, 2020

Commitments to make purchases from joint ventures and associates [A]

1,437

1,674

Commitments to provide debt or equity funding to joint ventures and associates

533

900

[A]

Commitments to make purchases from joint ventures and associates mainly relate to contracts associated with LNG processing fees and transportation capacity. Shell has other purchase obligations related to joint ventures and associates that are not fixed or determinable and are principally intended to be resold in a short period of time through sales agreements with third parties. These include long-term LNG and natural gas purchase commitments and commitments to purchase refined products or crude oil at market prices.