Note 14 - Investments in securities
|
|
$ million |
|---|---|---|
|
Dec 31, 2023 |
Dec 31, 2022 |
Equity securities: |
1,605 |
1,533 |
Equity securities at fair value through other comprehensive income |
1,605 |
1,533 |
Debt securities: |
1,641 |
1,829 |
Debt securities at amortised cost |
28 |
21 |
Debt securities at fair value through other comprehensive income |
1,285 |
1,308 |
Debt securities at fair value through profit or loss |
328 |
500 |
Total |
3,246 |
3,362 |
At fair value |
|
|
Measured by reference to prices in active markets for identical assets |
1,983 |
1,884 |
Measured by reference to other observable inputs |
92 |
158 |
Measured using predominantly unobservable inputs |
1,143 |
1,299 |
Total |
3,218 |
3,341 |
At cost |
28 |
21 |
Total |
3,246 |
3,362 |
As at December 31, 2023, investments included equity securities comprising interests in which Shell has no significant influence; debt securities, principally comprising a portfolio required to be held by the Company’s internal insurance entities as security for their activities; and assets held in escrow in relation to the Group’s UK pension arrangements.
Equity securities at fair value through other comprehensive income include a 27.5% (minus one share) interest in Sakhalin Energy Investment Company Ltd. (SEIC). Up to March 31, 2022, this investment was accounted for as an associate applying the equity method. Significant influence over the Sakhalin-2 investment was lost from April 1, 2022, leading to recognition, without financial impact, of the investment as a financial asset accounted for at fair value from that date, with subsequent changes in fair value recognised in other comprehensive income. The carrying value of the investment is zero as at December 31, 2023 (2022: zero).
|
|
$ million |
||
|---|---|---|---|---|
|
2023 |
2022 |
||
At January 1 |
1,299 |
1,707 |
||
Losses recognised in other comprehensive income |
(126) |
(206) |
||
Purchases |
146 |
142 |
||
Sales |
(207) |
(37) |
||
Other movements |
31 |
(307) |
||
At December 31 |
1,143 |
1,299 |
||
|
||||
Other movements in 2022 includes a reclassification to Property, plant and equipment, as a result of obtaining title to assets in a project in Asia.
