Consolidated Statement of Cash Flows
for the year ended December 31, 2023
|
|
|
|
$ million |
|---|---|---|---|---|
|
Notes |
2023 |
2022 |
2021 |
Income before taxation for the period |
|
32,627 |
64,815 |
29,829 |
Adjustment for: |
|
|
|
|
Interest expense (net) |
|
2,360 |
2,135 |
3,096 |
Depreciation, depletion and amortisation |
|
31,290 |
18,529 |
26,921 |
Exploration well write-offs |
868 |
881 |
639 |
|
Net gains on sale and revaluation of non-current assets and businesses |
|
(246) |
(642) |
(5,995) |
Share of profit of joint ventures and associates |
|
(3,725) |
(3,972) |
(4,097) |
Dividends received from joint ventures and associates |
|
3,674 |
4,398 |
3,929 |
Decrease/(increase) in inventories |
|
6,325 |
(8,360) |
(7,319) |
Decrease/(increase) in current receivables |
|
12,401 |
(8,989) |
(20,567) |
(Decrease)/increase in current payables |
|
(10,888) |
11,915 |
17,519 |
Derivative financial instruments |
|
(5,723) |
(2,619) |
5,882 |
Retirement benefits |
|
(37) |
417 |
16 |
Decommissioning and other provisions |
|
(473) |
35 |
(76) |
Other |
|
(550) |
2,991 |
803 |
Tax paid |
|
(13,712) |
(13,120) |
(5,476) |
Cash flow from operating activities |
|
54,191 |
68,414 |
45,104 |
Capital expenditure |
(22,993) |
(22,600) |
(19,000) |
|
Investments in joint ventures and associates |
(1,202) |
(1,973) |
(479) |
|
Investment in equity securities |
(197) |
(260) |
(218) |
|
Proceeds from sale of property, plant and equipment and businesses |
|
2,565 |
1,431 |
14,233 |
Proceeds from joint ventures and associates from sale, capital reduction and repayment of long-term loans |
|
474 |
511 |
584 |
Proceeds from sale of equity securities |
|
51 |
117 |
296 |
Interest received |
|
2,124 |
906 |
423 |
Other investing cash inflows |
|
4,269 |
2,060 |
2,928 |
Other investing cash outflows |
|
(2,825) |
(2,640) |
(3,528) |
Cash flow from investing activities |
|
(17,734) |
(22,448) |
(4,761) |
Net (decrease)/increase in debt with maturity period within three months |
|
(211) |
318 |
14 |
Other debt: |
|
|
|
|
New borrowings |
|
1,029 |
269 |
1,791 |
Repayments |
|
(10,650) |
(8,459) |
(21,534) |
Interest paid |
|
(4,441) |
(3,677) |
(4,014) |
Derivative financial instruments |
|
723 |
(1,799) |
(1,165) |
Change in non-controlling interest |
|
(22) |
(1,965) |
19 |
Cash dividends paid to: |
|
|
|
|
Shell plc shareholders |
|
(8,393) |
(7,405) |
(6,253) |
Non-controlling interest |
|
(764) |
(206) |
(348) |
Repurchases of shares |
|
(14,617) |
(18,437) |
(2,889) |
Shares held in trust: net purchases and dividends received |
|
(889) |
(593) |
(285) |
Cash flow from financing activities |
|
(38,235) |
(41,954) |
(34,664) |
Effects of exchange rate changes on cash and cash equivalents |
|
306 |
(736) |
(539) |
(Decrease)/increase in cash and cash equivalents |
|
(1,472) |
3,276 |
5,140 |
Cash and cash equivalents at beginning of year |
|
40,246 |
36,970 |
31,830 |
Cash and cash equivalents at end of year |
38,774 |
40,246 |
36,970 |
