Additional segmental information and capital data

Additional segmental information$ million

 

2019

2018

2017

2016

2015

Integrated Gas

 

 

 

 

 

Segment earnings

8,628

11,444

5,078

2,529

3,170

Including:

 

 

 

 

 

Exploration

281

208

141

494

1,290

Depreciation, depletion and amortisation

6,238

4,850

4,965

4,509

2,596

Of which: impairment losses and reversals

579

200

292

72

210

Share of profit/(loss) of joint ventures and associates

1,791

2,273

1,714

1,116

1,469

Production and manufacturing expenses

5,768

5,370

5,120

5,786

3,102

Selling, distribution and administrative expenses

716

458

237

584

546

Research and development

181

186

114

108

440

Cash flow from operating activities

15,311

14,617

6,467

9,132

7,728

(Increase)/decrease in working capital

483

(1,664)

(2,192)

1,159

152

Cash flow from operating activities excluding working capital

14,828

16,281

8,659

7,973

7,576

Cash flow from investing activities

(3,956)

(1,513)

(1,357)

(8,256)

(4,486)

Free Cash Flow

11,355

13,104

5,110

876

3,242

Capital employed

90,824

86,850

87,462

86,631

62,481

Upstream

 

 

 

 

 

Segment earnings

4,195

6,798

1,551

(3,674)

(8,833)

Including:

 

 

 

 

 

Exploration

2,073

1,132

1,804

1,614

4,429

Depreciation, depletion and amortisation

17,003

13,006

17,303

16,779

20,405

Of which: impairment losses and reversals

2,576

(200)

3,513

1,274

8,536

Share of profit/(loss) of joint ventures and associates

379

285

623

222

493

Production and manufacturing expenses

11,544

11,463

12,119

13,396

14,914

Selling, distribution and administrative expenses

48

201

5

556

464

Research and development

452

493

532

549

361

Cash flow from operating activities

19,528

22,661

16,337

7,662

5,453

(Increase)/decrease in working capital

(960)

744

(2)

(2,109)

1,146

Cash flow from operating activities excluding working capital

20,488

21,917

16,339

9,771

4,307

Cash flow from investing activities

(4,513)

(9,261)

(289)

(18,876)

(15,165)

Free Cash Flow

15,015

13,400

16,048

(11,214)

(9,712)

Capital employed

112,138

115,312

119,253

128,782

84,727

Downstream

 

 

 

 

 

Segment CCS earnings

6,277

7,601

8,258

6,588

10,243

Including:

 

 

 

 

 

Depreciation, depletion and amortisation

5,414

4,064

3,877

3,681

3,667

Of which: impairment losses and reversals

437

424

385

550

553

Share of profit/(loss) of joint ventures and associates

1,725

1,785

1,956

2,244

2,215

Production and manufacturing expenses

9,088

10,294

9,519

9,208

9,994

Selling, distribution and administrative expenses

9,280

10,142

9,789

10,117

10,531

Research and development

330

307

275

357

292

Cash flow from operating activities

7,296

13,928

12,429

3,556

14,076

(Increase)/decrease in working capital

(4,621)

3,164

(148)

(6,866)

3,188

Cash flow from operating activities excluding working capital

11,916

10,764

12,577

10,422

10,888

Cash flow from investing activities

(7,522)

(6,714)

(3,585)

(3,967)

(3,304)

Free Cash Flow

(226)

7,214

8,844

(411)

10,772

Capital employed

70,859

56,633

56,431

52,672

46,280

Corporate

 

 

 

 

 

Segment earnings

(3,273)

(1,479)

(2,416)

(1,751)

(425)

Comprising:

 

 

 

 

 

Net interest and investment income/(expense)

(3,425)

(2,192)

(2,413)

(1,824)

(995)

Foreign exchange (losses)/gains

(67)

(67)

(292)

3

(731)

Taxation and other

219

780

289

70

1,301

Cash flow from operating activities

44

1,879

417

265

2,553

(Increase)/decrease in working capital

318

1,198

92

(610)

249

Cash flow from operating activities excluding working capital

(274)

681

325

875

2,304

Cash flow from investing activities

212

3,829

(2,798)

136

549

Free Cash Flow

256

5,708

(2,381)

401

3,102

Capital employed

13,066

20,563

20,331

12,903

29,012

Royal Dutch Shell

 

 

 

 

 

CCS earnings

15,827

24,364

12,471

3,692

4,155

Less: Non-controlling interest

(557)

(531)

(390)

(159)

(313)

CCS earnings attributable to shareholders

15,270

23,833

12,081

3,533

3,842

Cash flow from operating activities

42,179

53,085

35,650

20,615

29,810

(Increase)/decrease in working capital 

(4,779)

3,442

(2,250)

(8,426)

4,735

Cash flow from operating activities excluding working capital

46,958

49,643

37,900

29,041

25,075

Cash flow from investing activities

(15,779)

(13,659)

(8,029)

(30,963)

(22,406)

Free Cash Flow

26,400

39,426

27,621

(10,348)

7,404

Capital employed

286,887

279,358

283,477

280,988

222,500

Operating expenses$ million

 

2019

2018

2017

2016

2015

Production and manufacturing expenses

26,438

26,970

26,652

28,434

28,095

Selling, distribution and administrative expenses

10,493

11,360

10,509

12,101

11,956

Research and development

962

986

922

1,014

1,093

Operating expenses

37,893

39,316

38,083

41,549

41,144

Less identified items:

 

 

 

 

 

(Redundancy and restructuring charges)/reversal

(130)

(187)

(565)

(1,870)

(430)

(Provisions)/reversal

(639)

(104)

38

(915)

(1,150)

Other

(131)

BG acquisition costs

(422)

 

(900)

(291)

(527)

(3,207)

(1,580)

Underlying operating expenses

36,993

39,025

37,556

38,342

39,564

Operating expenses is a measure of Shell’s cost management performance, comprising the following items from the Consolidated Statement of Income: production and manufacturing expenses; selling, distribution and administrative expenses; and research and development expenses. Underlying operating expenses measures Shell’s total operating expenses performance excluding identified items (see definition of identified items in the "Quarterly data per segment" section). Underlying operating expenses is a non- measure. 

Capital employed [A] (at December 31)$ million

 

2019

2018

2017

2016

2015

Integrated Gas

90,824

86,850

87,462

86,631

62,481

Upstream

112,138

115,312

119,253

128,782

84,727

Downstream

70,859

56,633

56,431

52,672

46,280

Oil Products

50,237

39,748

41,186

38,926

34,444

Chemicals

20,622

16,885

15,245

13,746

11,836

Corporate

13,066

20,563

20,331

12,903

29,012

Total

286,887

279,358

283,477

280,988

222,500

[A]

Consists of total equity, current debt and non-current debt.

Cash capital expenditure and capital investment$ million

 

2019

2018

2017

2016

2015

Capital expenditure

 

 

 

 

 

Integrated Gas

3,851

3,262

3,515

3,994

4,580

Upstream

 

 

 

 

 

Europe

1,183

1,326

1,376

2,198

2,729

Asia

971

528

773

1,624

2,272

Oceania

Africa

1,072

1,634

625

1,142

2,441

North America

4,987

6,602

6,951

5,682

8,507

South America

1,861

2,357

1,664

2,064

457

Total Upstream

10,074

12,447

11,389

12,710

16,406

Downstream

 

 

 

 

 

Oil Products

4,583

3,943

3,472

3,322

3,231

Chemicals

4,068

3,140

2,354

1,987

1,757

Total Downstream

8,650

7,083

5,826

5,309

4,988

Corporate

396

219

115

103

157

Total capital expenditure [A]

22,971

23,011

20,845

22,116

26,131

Capital investment related to the acquisition of BG Group plc

52,904

Investments in joint ventures and associates [A]

743

880

595

1,330

896

Investments in equity securities [A]

205

187

93

132

94

Cash capital expenditure

23,919

24,078

21,533

23,578

27,121

Integrated Gas

4,299

3,819

3,616

4,105

4,777

Upstream

10,277

12,582

11,670

13,442

17,064

Downstream

8,926

7,408

6,090

5,925

5,117

Oil Products

4,836

4,195

3,627

3,511

3,349

Chemicals

4,090

3,212

2,464

2,415

1,768

Corporate

418

269

157

106

162

Total

23,919

24,078

21,533

23,578

27,121

Exploration expense, excluding exploration wells written off

1,137

889

1,048

1,274

2,948

Leases recognised in the period

4,494

452

1,074

2,343

91

Other adjustments

(762)

(541)

(941)

Capital investment

28,788

24,878

23,655

80,099

29,219

Comprising:

 

 

 

 

 

Integrated Gas

6,706

4,259

3,921

26,218

5,187

Upstream

11,075

12,785

13,160

47,653

18,716

Downstream

10,542

7,565

6,418

6,123

5,153

Oil Products

6,395

4,352

3,953

3,660

3,385

Chemicals

4,148

3,213

2,464

2,462

1,768

Corporate

465

269

157

106

162

Total

28,788

24,878

23,655

80,099

29,219

[A]

Included within Cash flow from investing activities in the “Consolidated Statement of Cash Flows”.

Capital investment is a non-GAAP measure used to make decisions about allocating resources and assessing performance. It comprises Capital expenditure, Investments in joint ventures and associates and Investments in equity securities, exploration expense excluding well write-offs, leases recognised in the period and other adjustments. The definition reflects two changes with effect from January 1, 2019, for simplicity reasons. Firstly, “Investments in equity securities” now includes investments under the Corporate segment and is aligned with the line introduced in the Consolidated Statement of Cash Flows from January 1, 2019. Secondly, the adjustments previously made to bring the Capital investment measure onto an accruals basis no longer apply. Comparative information has been revised.

Cash capital expenditure is a non-GAAP measure, introduced with effect from January 1, 2019, to monitor investing activities on a cash basis, excluding items such as lease additions which do not necessarily result in cash outflows in the period. The measure comprises the following lines from the Consolidated Statement of Cash flows: Capital expenditure, Investments in joint ventures and associates and Investments in equity securities. The reconciliation of “Capital expenditure” to “Cash capital expenditure” and “Capital investment” is provided above.

GAAP
generally accepted accounting principles
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