Additional segmental information and capital data
|
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 |
|
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-GAAP measure.
|
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 |
||
|
|
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 |
||
|
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.