0001306965-23-000007 | 20-F | XBRL Viewer

^[1]

$ 9,773

^[1]

9,662

$ 9,773

Goodwill

^[1]

(14,920)

361

167

$ 276

^[1]

(16,039)

(14,920)

Integrated Gas

3,900

Goodwill

(4,900)

Cost

19,259

17,957

3,601

3,674

(2,290)

(2,175)

(378)

(197)

20,192

19,259

17,957

Goodwill

(16,117)

(15,101)

1,954

1,546

(351)

(464)

(163)

(66)

Depreciation, depletion and amortisation, including impairments

(17,557)

(16,117)

(15,101)

(9,486)

(9,286)

144

1,325

1,164

(137)

(867)

(10,530)

(9,486)

(9,286)

Goodwill

1,197

1,062

360

167

LNG off-take and sales contracts

1,518

1,197

1,062

4,566

LNG off-take and sales contracts | Cost

3,773

4,566

9,833

10,030

(197)

LNG off-take and sales contracts | Depreciation, depletion and amortisation, including impairments

9,833

10,030

(5,267)

(4,668)

793

796

(197)

Environmental certificates

(6,060)

(5,267)

(4,668)

2,747

Environmental certificates | Cost

2,201

2,747

2,747

1,013

2,338

3,147

(2,749)

(1,371)

(135)

(42)

Environmental certificates | Depreciation, depletion and amortisation, including impairments

2,201

2,747

1,013

Other

2,460

3,688

2,460

Other | Cost

6,679

6,914

1,263

527

459

(607)

(243)

(155)

Other | Depreciation, depletion and amortisation, including impairments

8,158

6,679

6,914

(4,219)

(4,618)

144

532

368

(137)

(670)

(4,470)

(4,219)

$ (4,618)

Software

456

Other Provisions, Contingent Liabilities And Contingent Assets [Abstract]

$ 583

$ 456

[1]	Goodwill, previously presented under Intangible assets, is separately presented as from 2022. Prior period comparatives have been revised to conform with current year presentation.

Changes to IFRS not yet adopted	12 Months Ended
Changes to IFRS not yet adopted	Dec. 31, 2022
Accounting Policies, Changes In Accounting Estimates And Errors [Abstract]
Changes to IFRS Not Yet Adopted	Changes to IFRS not yet adopted Deferred Tax related to Assets and Liabilities arising from a Single Transaction (Amendments to IAS 12 Income taxes (IAS 12)) In May 2021, amendments to IAS 12 were published to require companies to recognise deferred tax on particular transactions that, on initial recognition, give rise to equal amounts of taxable and deductible temporary differences. The amendments will typically apply to transactions where assets and liabilities are recognised from a single transaction, such as leases for the lessee and decommissioning and restoration obligations. The amendments are effective for annual reporting periods beginning on or after January 1, 2023, and should be applied on a modified retrospective basis. Shell performed an analysis of the impact of these amendments and concluded that these have no significant effect on future financial reporting. IFRS 17 Insurance contracts (IFRS 17) IFRS 17 was issued in 2017, with amendments published in 2020 and 2021, and is required to be adopted for annual reporting periods beginning on or after January 1, 2023. The IFRS 17 model combines a current balance sheet measurement of insurance contracts with recognition of profit over the period that services are provided. The general model in the standard requires insurance contract liabilities to be measured using probability-weighted current estimates of future cash flows, an adjustment for risk, and a contractual service margin representing the profit expected from fulfilling the contracts. Effects of changes in the estimates of future cash flows and the risk adjustment relating to future services are recognised over the period services are provided rather than immediately in profit or loss. Shell performed an analysis of the impact of IFRS 17 and concluded that the standard has no significant impact on future financial reporting.

Decommissioning and other provisions (Tables)

12 Months Ended

Dec. 31, 2022

Summary of Decommissioning and Other Provisions


	$ million
	Decommissioning and restoration	Onerous contracts	Legal	Environmental	Redundancy	Other	Total
At January 1, 2022
Current	871	653	270	332	410	802	3,338
Non-current	21,213	1,029	1,141	847	235	1,339	25,804
	22,084	1,682	1,411	1,179	645	2,141	29,142
Additions	618	620	314	178	226	832	2,788
Amounts charged against provisions	(672)	(661)	(272)	(211)	(372)	(333)	(2,521)
Accretion expense	483	13	16	12	1	5	530
Disposals and liabilities classified as held for sale	(1,228)	(66)	(21)	(2)	—	(7)	(1,324)
Remeasurements and other movements	(182)	(139)	(44)	(78)	(155)	(354)	(952)
Currency translation differences	(818)	35	(3)	(27)	(21)	(74)	(908)
	(1,799)	(198)	(10)	(128)	(321)	69	(2,387)
At December 31, 2022
Current	856	277	224	321	171	1,061	2,910
Non-current	19,429	1,207	1,177	730	153	1,149	23,845
	20,285	1,484	1,401	1,051	324	2,210	26,755

At January 1, 2021
Current	900	532	521	273	673	723	3,622
Non-current	22,081	1,207	1,229	952	265	1,382	27,116
	22,981	1,739	1,750	1,225	938	2,105	30,738
Additions	1,040	229	197	153	991	752	3,362
Amounts charged against provisions	(662)	(264)	(340)	(154)	(733)	(292)	(2,445)
Accretion expense	405	14	11	9	1	10	450
Disposals and liabilities classified as held for sale	(819)	—	(5)	(17)	(1)	(27)	(869)
Remeasurements and other movements	(609)	(36)	(196)	(11)	(512)	(339)	(1,703)
Currency translation differences	(252)	—	(6)	(26)	(39)	(68)	(391)
	(897)	(57)	(339)	(46)	(293)	36	(1,596)
At December 31, 2021
Current	871	653	270	332	410	802	3,338
Non-current	21,213	1,029	1,141	847	235	1,339	25,804
	22,084	1,682	1,411	1,179	645	2,141	29,142

Summary of expected maturity of Provisions

The decommissioning and restoration provision at December 31, 2022, is expected to be utilised within:


									$ million
									Dec 31, 2022
Between 1 to 5 years									4,219
Between 6 to 10 years									3,882
11 years and later									12,184
Total									20,285

Interest expense - Summary of Interest Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Analysis of income and expense [abstract]
Interest incurred and similar charges	$ 1,971	$ 2,086	$ 2,174
Interest expense related to leases	1,724	1,987	2,185
Less: interest capitalised	(950)	(917)	(799)
Other net (gains)/losses on fair value and cash flow hedges of debt	(71)	1	32
Accretion expense	507	450	497
Total	$ 3,181	$ 3,607	$ 4,089

Segment information - Summary of Reconciliation of CCS Earnings to Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Reconciliation Of Ccs Earnings To Income [Line Items]
Income/(loss) attributable to Shell plc shareholders	$ 42,309	$ 20,101	$ (21,680)
Income attributable to non-controlling interest	565	529	146
Income/(loss) for the period	42,874	20,630	(21,534)
Current cost of supplies adjustment:
Taxation	(21,497)	(8,391)	4,848
CCS earnings
Current cost of supplies adjustment:
Purchases	(1,714)	(3,772)	2,359
Taxation	444	808	(585)
Share of profit of joint ventures and associates	(42)	(184)	59
Current cost of supplies adjustment	(1,312)	(3,148)	1,833
Of which:
Attributable to Shell plc shareholders	(1,196)	(3,029)	1,759
Attributable to non-controlling interest	(116)	(119)	74
CCS earnings	41,562	17,482	(19,701)
Of which:
CCS earnings attributable to Shell plc shareholders	41,113	17,072	(19,921)
CCS earnings attributable to non-controlling interest	$ 449	$ 410	$ 220

Retirement benefits - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
The Netherlands
Disclosure of defined benefit plans [line items]
Surplus (deficit)	$ 3,378	$ 1,756
Percentage of defined benefit liability related to active members	23.00%	26.00%
UK
Disclosure of defined benefit plans [line items]
Percentage of defined benefit liability related to active members	17.00%	20.00%
Actuarial funding valuation, frequency	3 years
Actuarial funding valuation, funding ratio	103.00%
UK \| Funded pension plans
Disclosure of defined benefit plans [line items]
Surplus (deficit)	$ 4,172	$ 3,807
UK \| Unfunded pension plans
Disclosure of defined benefit plans [line items]
Surplus (deficit)	317	473
USA
Disclosure of defined benefit plans [line items]
Surplus (deficit)	$ 318	$ 182
Percentage of defined benefit liability related to active members	24.00%	24.00%
USA \| Unfunded pension plans
Disclosure of defined benefit plans [line items]
Surplus (deficit)	$ (868)	$ (1,129)
Pensions
Disclosure of defined benefit plans [line items]
Estimate of contributions expected to be paid to plan for next annual reporting period	$ 836
Pensions \| The Netherlands \| Top of range
Disclosure of defined benefit plans [line items]
Percentage of average local funding requirement for additional payments	105.00%
OPEB \| USA
Disclosure of defined benefit plans [line items]
Surplus (deficit)	$ (2,135)	$ (4,067)

Emissions schemes and related environmental plans

12 Months Ended

Dec. 31, 2022

Other Provisions, Contingent Liabilities And Contingent Assets [Abstract]

Emissions Schemes and Related Environmental Plans

Emission schemes and related environmental programmes

Emission trading and related schemes

In general, emission trading schemes (ETS) are mandated governmental schemes to control emission levels and enhance clean energy transition, allowing for the trading of emission certificates. In most ETS, governments set an emission cap for one or more sectors. Generally, entities in scope of the scheme are allowed to buy emission certificates to cover shortages or sell surplus emission certificates. In certain countries emissions are priced through a carbon tax. For Shell, the most significant carbon pricing mechanisms are established in Europe, Canada and Singapore.

Biofuel programmes

Biofuel programmes are mandated governmental schemes that set binding national targets on the share of renewables in fuel consumption or measures on reducing GHG emissions by fuel suppliers. Biofuels are blended with existing fuels such as gasoline and diesel to reduce net emissions. The share of biofuel in the total sales mix of fuel is used to comply with regulatory requirements. This can be achieved by the blending of biofuels in refineries and/or distribution depots (self-blending), through import of biofuels (for jurisdictions that grant biofuels certificates at the point of import) or by the purchasing of certificates from third parties (for jurisdictions that have a tradable biofuel certificates mechanism). Biofuel programmes also include regulatory requirements to pay a levy for the combustion of fossil fuels, based on CO₂ emitted – mainly related to the German Fuel Emissions Trading Act (BEHG) applying since January 1, 2021.

Renewable power programmes

Renewable power programmes create a financial incentive to consume power that is sourced from renewable origins or require that a minimum percentage of power sold meets the green definition of the relevant standard. These regulations are typically accompanied by schemes supporting investments in the renewable technology. Renewable power programmes generally use certificates to monitor compliance, where renewable power certificates are granted for each MWh of energy generated that meets the predefined renewable criteria. Shell’s compliance obligation under renewable power programmes comes primarily from energy supply and results from regulations applying in Europe, North America and Australia.


Cost of emission schemes and related environmental programmes recognised in the Consolidated Statement of Income


	$ million
	2022	2021	2020
ETS and related schemes	493	331	150
Biofuels [A]	2,918	2,609	1,137
Renewable power	594	455	364
Total	4,005	3,395	1,651

[A]Represents the cost of biofuel certificates required for compliance purposes over and above those generated from self-blending activities.


Purchased environmental certificates (presented under Other intangible assets, see Note 11) [A]


	$ million
	ETS and related schemes	Biofuels	Renewable power	Total
At January 1, 2022	284	2,362	101	2,747
Additions	385	1,485	468	2,338
Settlements	(256)	(2,142)	(398)	(2,796)
Other movements	27	(104)	(11)	(88)
At December 31, 2022	440	1,601	160	2,201
At January 1, 2021	157	780	76	1,013
Additions	292	2,450	405	3,147
Settlements	(115)	(754)	(355)	(1,224)
Other movements	(50)	(114)	(25)	(189)
At December 31, 2021	284	2,362	101	2,747

[A]Relates to environmental certificates held for compliance purposes.

5. Emission schemes and related environmental programmes continued


Obligation (presented under Other payables, see Note 19)


	$ million
	ETS and related schemes		Biofuels	Renewable power	Total
At January 1, 2022
Current	(270)		(3,262)	(273)	(3,805)
Non-current	—		(182)	(29)	(211)
	(270)		(3,444)	(302)	(4,016)
Additions	(1,237)		(2,916)	(637)	(4,790)
Additions covered by government grants	776	[A]			776
Settlements	292		2,456	499	3,247
Other movements	(19)		58	34	73
	(188)		(402)	(104)	(694)

At December 31, 2022
Current	(458)		(3,424)	(350)	(4,232)
Non-current	—		(422)	(56)	(478)
	(458)		(3,846)	(406)	(4,710)
At January 1, 2021
Current	(154)		(1,549)	(290)	(1,993)
Non-current	—		(54)	(6)	(60)
	(154)		(1,603)	(296)	(2,053)
Additions	(781)		(2,756)	(487)	(4,024)
Additions covered by government grants	456	[A]			456
Settlements	150		755	491	1,396
Other movements	59		160	(10)	209
	(116)		(1,841)	(6)	(1,963)

At December 31, 2021
Current	(270)		(3,262)	(273)	(3,805)
Non-current	—		(182)	(29)	(211)
	(270)		(3,444)	(302)	(4,016)

[A]Emission certificates that were allocated free of charge at an equivalent fair value at grant date.

Environmental certificates acquired that are held for compliance purposes are recognised at cost under intangible assets. In addition, a portfolio of environmental certificates is held for trading purposes and classified under inventory (see Note 2 and Note 16). Environmental certificates held for trading purposes can be redesignated for compliance purposes and then settle compliance obligations.

Cost recognised in the Consolidated Statement of Income represents the compliance cost associated with emissions or with products sold during the year. The liability at year-end represents the compliance cost recognised over current and past compliance periods to the extent not settled to date. Liabilities are settled in line with compliance periods, which depend on the scheme and may not coincide with the calendar year.

The figures present compliance schemes only, excluding voluntary activities.

Cash and cash equivalents (Tables)

12 Months Ended

Dec. 31, 2022

Subclassifications of assets, liabilities and equities [abstract]

Summary of Cash and Cash Equivalents


	$ million
	Dec 31, 2022	Dec 31, 2021
Cash	6,608	5,849
Short-term bank deposits	5,147	4,416
Money market funds, reverse repos and other cash equivalents	28,491	26,705
Total	40,246	36,970

Employees - Summary of Average Employee Numbers (Details) - employee employee in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of average number of employees [Line Items]
Average employee numbers	87	83	87
Average employee numbers seconded to joint ventures and associates	2	2	2
Integrated Gas
Disclosure of average number of employees [Line Items]
Average employee numbers	6	6	6
Upstream
Disclosure of average number of employees [Line Items]
Average employee numbers	12	13	15
Marketing
Disclosure of average number of employees [Line Items]
Average employee numbers	17	14	15
Chemicals and Products
Disclosure of average number of employees [Line Items]
Average employee numbers	21	22	23
Renewables and Energy Solutions
Disclosure of average number of employees [Line Items]
Average employee numbers	4	3	3
Corporate
Disclosure of average number of employees [Line Items]
Average employee numbers	27	25	25
- of which Shell Business Service Centre (SBSC)
Disclosure of average number of employees [Line Items]
Average employee numbers	20	19	18

Share capital - Summary of Issued and Fully Paid Ordinary Shares (Details)
$ in Millions

1 Months Ended

11 Months Ended

12 Months Ended

Feb. 03, 2022

USD ($)

Jan. 29, 2022

USD ($)

Jan. 26, 2022

USD ($)

Dec. 31, 2022

USD ($)

Dec. 31, 2022

USD ($)

Dec. 31, 2022

€ / shares

Dec. 31, 2021

USD ($)

Dec. 31, 2021

€ / shares

Dec. 31, 2020

USD ($)

Disclosure of classes of share capital [line items]

Deferred share (in gbp per share) | € / shares

$ (18,547)

^[1]

$ (3,513)

$ (1,214)

€ 1

Share capital

Disclosure of classes of share capital [line items]

Repurchases of shares (in shares) | shares

(507,742)

(646,014,770)

Assimilation of ordinary A and B shares into ordinary shares (in shares) | shares

7,650,025,905

Ending balance (in shares) | shares

7,003,503,393

$ 641

651

Assimilation of ordinary A and B shares into ordinary shares

$ 0

$ (3)

$ (54)

(57)

^[1]

(10)

(6)

Share capital | Ordinary shares

$ 641

$ 651

Disclosure of classes of share capital [line items]

Assimilation of ordinary A and B shares into ordinary shares

$ 0

(54)

$ 638

Class A Shares | Share capital

$ 584

Disclosure of classes of share capital [line items]

Beginning balance (in shares) | shares

4,101,239,499

Repurchases of shares (in shares) | shares

Assimilation of ordinary A and B shares into ordinary shares (in shares) | shares

(4,101,239,499)

Ending balance (in shares) | shares

4,101,239,499

$ 345

Assimilation of ordinary A and B shares into ordinary shares

$ 0

$ (345)

Class B Shares | Share capital

$ 345

Disclosure of classes of share capital [line items]

Beginning balance (in shares) | shares

3,582,892,954

3,706,183,836

Repurchases of shares (in shares) | shares

(34,106,548)

123,290,882

Assimilation of ordinary A and B shares into ordinary shares (in shares) | shares

(3,548,786,406)

Ending balance (in shares) | shares

3,582,892,954

3,706,183,836

$ 296

$ 306

Assimilation of ordinary A and B shares into ordinary shares

$ (3)

(10)

$ (293)

Deferred shares | Share capital

$ 296

$ 306

Disclosure of classes of share capital [line items]

Issued and fully paid ordinary shares (in shares) | shares

50,000

[1]	Includes shares committed to repurchase under irrevocable contracts and repurchases subject to settlement at the end of the year. (See Note 26)

Leases - Summary of Right-of-use Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disclosure of quantitative information about right-of-use assets [line items]
At January 1	$ 21,952
At December 31	23,117	$ 21,952
Cost
Disclosure of quantitative information about right-of-use assets [line items]
At January 1	38,106	36,355
Additions	5,504	3,880
Sales, retirements and other movements	1,785	1,492
Currency translation differences	(788)	(637)
At December 31	41,037	38,106
Depreciation, depletion and amortisation, including impairments
Disclosure of quantitative information about right-of-use assets [line items]
At January 1	(16,154)	(13,803)
Charge for the year	4,202	4,216
Sales, retirements and other movements	(2,172)	(1,650)
Currency translation differences	(264)	(215)
At December 31	(17,920)	(16,154)
Carrying amount of exploration and evaluation assets
Disclosure of quantitative information about right-of-use assets [line items]
At January 1	5
At December 31	0	5
Carrying amount of exploration and evaluation assets \| Cost
Disclosure of quantitative information about right-of-use assets [line items]
At January 1	5	5
Additions	0	0
Sales, retirements and other movements	5	0
Currency translation differences	0	0
At December 31	0	5
Carrying amount of exploration and evaluation assets \| Depreciation, depletion and amortisation, including impairments
Disclosure of quantitative information about right-of-use assets [line items]
At January 1	0	0
Charge for the year	0	0
Sales, retirements and other movements	0	0
Currency translation differences	0	0
At December 31	0	0
Production
Disclosure of quantitative information about right-of-use assets [line items]
At January 1	6,387
At December 31	6,400	6,387
Production \| Cost
Disclosure of quantitative information about right-of-use assets [line items]
At January 1	14,322	14,440
Additions	1,088	311
Sales, retirements and other movements	569	365
Currency translation differences	(166)	(64)
At December 31	14,675	14,322
Production \| Depreciation, depletion and amortisation, including impairments
Disclosure of quantitative information about right-of-use assets [line items]
At January 1	(7,935)	(6,997)
Charge for the year	1,182	1,373
Sales, retirements and other movements	(751)	(400)
Currency translation differences	(91)	(35)
At December 31	(8,275)	(7,935)
Manufacturing, supply and distribution
Disclosure of quantitative information about right-of-use assets [line items]
At January 1	9,802
At December 31	9,768	9,802
Manufacturing, supply and distribution \| Cost
Disclosure of quantitative information about right-of-use assets [line items]
At January 1	15,748	14,526
Additions	2,305	2,149
Sales, retirements and other movements	1,530	868
Currency translation differences	(60)	(59)
At December 31	16,463	15,748
Manufacturing, supply and distribution \| Depreciation, depletion and amortisation, including impairments
Disclosure of quantitative information about right-of-use assets [line items]
At January 1	(5,946)	(5,013)
Charge for the year	2,223	2,060
Sales, retirements and other movements	(1,444)	(1,093)
Currency translation differences	(30)	(34)
At December 31	(6,695)	(5,946)
Other
Disclosure of quantitative information about right-of-use assets [line items]
At January 1	5,758
At December 31	6,949	5,758
Other \| Cost
Disclosure of quantitative information about right-of-use assets [line items]
At January 1	8,031	7,384
Additions	2,111	1,420
Sales, retirements and other movements	(319)	259
Currency translation differences	(562)	(514)
At December 31	9,899	8,031
Other \| Depreciation, depletion and amortisation, including impairments
Disclosure of quantitative information about right-of-use assets [line items]
At January 1	(2,273)	(1,793)
Charge for the year	797	783
Sales, retirements and other movements	23	(157)
Currency translation differences	(143)	(146)
At December 31	$ (2,950)	$ (2,273)

Assets held for sale

12 Months Ended

Dec. 31, 2022

Non-current assets held-for-sale [Abstract]

Assets Held For Sale

Assets held for sale


			$ million
		Dec 31, 2022			Dec 31, 2021
	Current	Non-current	Total	Current	Non-current	Total
Intangible assets	—	—	—	—	116	116
Property, plant and equipment	—	2,526	2,526	—	896	896
Joint ventures and associates	—	94	94	—	—	—
Investments in securities	—	128	128	—	—	—
Trade and other receivables	44	51	95	349	71	420
Inventories	8	—	8	528	—	528
Assets classified as held for sale	52	2,799	2,851	877	1,083	1,960
Debt	3	1	4	257	199	456
Trade and other payables	256	22	278	235	140	375
Deferred tax	—	—	—	—	41	41
Retirement benefits	—	—	—	—	108	108
Decommissioning and other provisions	134	971	1,105	10	219	229
Income taxes payable	8	—	8	44	—	44
Liabilities directly associated with assets classified as held for sale	401	994	1,395	546	707	1,253

At December 31, 2022, assets held for sale mainly related to three Upstream projects. All transactions that resulted in the reclassification of assets held for sale at December 31, 2022, are expected to be completed in 2023.

In 2022, Shell ceased to classify one asset within Chemicals and Products as held for sale as it no longer met the assets-held-for-sale criteria. All other assets classified as held for sale at December 31, 2021, were sold in 2022.

Withdrawal from Russian oil and gas activities (Tables)

12 Months Ended

Dec. 31, 2022

Interest in other entities [Abstract]

Analysis of incomes and expenses

These were recognised in:


2022			$ million
Revenue			(468)
Share of profit of joint ventures and associates			(1,614)
Interest and other income/(expenses)			(1,116)
Selling, distribution and administrative expenses			(104)
Depreciation, depletion and amortisation			(695)
Other			(173)
Loss before taxation			(4,170)
Taxation credit			(366)
Loss for the period			(3,804)

Financial instruments - Summary of Net Carrying Amounts of Derivative Contracts Measured Using Predominantly Unobservable Inputs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disclosure of significant unobservable inputs used in fair value measurement of liabilities [line items]
Beginning balance	$ (5,014)
Ending balance	(2,323)	$ (5,014)
Unobservable inputs
Disclosure of significant unobservable inputs used in fair value measurement of liabilities [line items]
Beginning balance	389	1,077
Net gains recognised in revenue	1,190	(569)
Purchases	886	440
Sales	(623)	(442)
Settlements	46	(32)
Recategorisations (net)	17	(87)
Currency translation differences	4	2
Ending balance	$ 1,909	$ 389

Financial instruments - Summary of 10% Appreciation Against the Dollar of Main Currencies (Details) - 10% percentage appreciation - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Euro
Disclosure Of Foreign Exchange Risk [Line Items]
Increase/(decrease) in income before taxation	$ 124	$ (123)
Increase in net assets	1,486	601
Malaysian ringgit
Disclosure Of Foreign Exchange Risk [Line Items]
Increase/(decrease) in income before taxation	65	119
Increase in net assets	313	399
Australian dollar
Disclosure Of Foreign Exchange Risk [Line Items]
Increase/(decrease) in income before taxation	(65)	(3)
Increase in net assets	837	591
Sterling
Disclosure Of Foreign Exchange Risk [Line Items]
Increase/(decrease) in income before taxation	(168)	(180)
Increase in net assets	894	738
Canadian dollar
Disclosure Of Foreign Exchange Risk [Line Items]
Increase/(decrease) in income before taxation	(44)	(44)
Increase in net assets	$ 1,575	$ 1,439

Joint ventures and associates

12 Months Ended

Dec. 31, 2022

Interests In Other Entities [Abstract]

Joint Ventures and Associates

Joint ventures and associates


Shell share of comprehensive income of joint ventures and associates


									$ million
	2022				2021				2020
	Joint ventures	Associates		Total	[A]	Joint ventures	Associates	Total		Joint ventures	Associates	Total
Income for the period	2,589	1,383	[A]	3,972	[A]	1,955	2,142	4,097		629	1,154	1,783
Other comprehensive income/(loss) for the period	21	—		21		(106)	—	(106)		76	1	77
Comprehensive income for the period	2,610	1,383		3,993		1,849	2,142	3,991		705	1,155	1,860

[A]Includes an impairment charge of $1,614 million related to Sakhalin-2. (See Note 6).


Carrying amount of interests in joint ventures and associates

$ million

Dec 31, 2022

Dec 31, 2021

Joint
ventures

Associates

Total

Joint
ventures

Associates

Total

Net assets

17,056

6,808

23,864

15,767

7,648

23,415


Transactions with joint ventures and associates


	$ million
	2022 [A]	2021 [A]	2020
Sales and charges to joint ventures and associates	12,230	8,509	5,426
Purchases and charges from joint ventures and associates	22,286	13,584	8,262

[A]Includes 29% (2021: 26%) of sales and 16% (2021: 16%) purchases in 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, 2022, and 2021, are presented in Notes 15 and 19.


Other arrangements in respect of joint ventures and associates


	$ million
	Dec 31, 2022	Dec 31, 2021
Commitments to make purchases from joint ventures and associates [A]	1,234	1,437
Commitments to provide debt or equity funding to joint ventures and associates	567	533

[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. Shell has stopped all spot purchases of Russian crude, LNG, and of cargoes of refined products directly exported from Russia. (See Note 6).

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - USD ($)
$ in Millions

Total

Share capital

Shares held in trust

Other reserves

Retained earnings

Non- controlling interest

Beginning balance at Dec. 31, 2019

$ 190,463

$ 186,476

$ 657

$ (1,063)

$ 14,451

$ 172,431

$ 3,987

Comprehensive income for the period

(23,376)

Comprehensive (loss)/income for the period

(23,093)

(23,229)

(1,832)

(21,397)

136

270

(270)

^[1]

(7,581)

(7,270)

(311)

(1,214)

(6)

(1,214)

Ending balance at Dec. 31, 2020

(19)

354

(143)

(230)

Other changes

(19)

566

(585)

158,537

155,310

651

(709)

12,752

142,616

3,227

Comprehensive income for the period

26,703

26,235

6,134

20,101

468

(45)

^[1]

(6,669)

(6,321)

(348)

(3,513)

(10)

(3,513)

Ending balance at Dec. 31, 2021

250

Other changes

175,326

171,966

641

(610)

18,909

153,026

3,360

Comprehensive income for the period

44,954

44,333

2,024

42,309

621

(34)

^[1]

(7,489)

(7,283)

(206)

^[2]

(18,547)

(57)

(18,547)

Ending balance at Dec. 31, 2022

191

(116)

176

131

Other changes

(1,838)

(188)

(1,650)

^[3]

$ 192,597

$ 190,472

$ 584

$ (726)

$ 21,132

$ 169,482

$ 2,125

[1]	The amount charged to retained earnings is based on prevailing exchange rates on payment date.
[2]	Includes shares committed to repurchase under irrevocable contracts and repurchases subject to settlement at the end of the year. (See Note 26)
[3]	The decrease in the non-controlling interest is mainly attributable to the acquisition of the non-controlling interest in Shell Midstream Partners, L.P.

- Definition

The amount of change in equity resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.

+ References + Details

- Definition

The amount of residual interest in the assets of the entity after deducting all its liabilities.

+ References + Details

Climate change and energy transition - Fixed assets by segment (Details) - USD ($)
$ in Millions

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2016

Disclosure of Climate Change and Energy Transition [Line Items]

^[1]

$ 16,039

$ 14,920

^[1]

9,662

9,773

198,642

194,932

23,864

23,415

Disclosure of Climate Change and Energy Transition [Line Items]

248,200

Integrated Gas

4,900

3,900

60,800

5,600

Disclosure of Climate Change and Energy Transition [Line Items]

75,200

75,000

$ 79,000

$ 93,000

$ 91,000

$ 94,000

$ 95,000

Upstream

5,300

200

74,500

7,700

Disclosure of Climate Change and Energy Transition [Line Items]

87,700

91,000

106,000

119,000

123,000

128,000

136,000

Chemicals and Products

300

2,100

38,100

4,200

Disclosure of Climate Change and Energy Transition [Line Items]

44,700

44,000

43,000

47,000

39,000

38,000

$ 26,000

Marketing

3,300

1,800

19,100

4,400

Renewables and Energy Solutions

28,600

Disclosure of Climate Change and Energy Transition [Line Items]

2,200

1,600

3,200

1,900

Disclosure of Climate Change and Energy Transition [Line Items]

8,900

$ 5,000

$ 3,000

$ 1,000

Corporate

100

2,900

100

Subclassifications of assets, liabilities and equities [abstract]

$ 3,100

[1]	Goodwill, previously presented under Intangible assets, is separately presented as from 2022. Prior period comparatives have been revised to conform with current year presentation.

Climate change and energy transition - Additional Information (Details) $ in Millions	12 Months Ended											72 Months Ended	90 Months Ended
	Dec. 31, 2050 $ / Tonne	Dec. 31, 2040 $ / Tonne	Dec. 31, 2035 $ / Tonne	Dec. 31, 2032 USD ($)	Dec. 31, 2030 $ / Tonne	Dec. 31, 2025 $ / Tonne	Dec. 31, 2023 USD ($) $ / Tonne	Dec. 31, 2022 USD ($) outlook numberOfRefineries energy_chemical_park $ / bbl $ / MMBTU $ / barrel $ / Tonne $ / Boe	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2017 USD ($) numberOfRefineries	Dec. 31, 2022 USD ($) numberOfRefineries energy_chemical_park	Jul. 12, 2024 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2016 USD ($) refinery
Disclosure of Climate Change and Energy Transition [Line Items]
Property, plant and equipment								$ 198,642	$ 194,932			$ 198,642
Impairment sensitivity to change in commodity prices								10.00%
Capital expenditure, renewable power								$ 4,000
Number of assets								5				5				15
Number of refineries assumed \| numberOfRefineries								2			2
Number of closed refineries \| numberOfRefineries												9
Other assets								$ 11,000				$ 11,000
Refining margin (USD per BBL) \| $ / Boe								6.22
Decrease in long-term refining margin assumptions (USD per BBL) \| $ / Boe								1
Increase in long-term refining margin assumptions (USD per BBL) \| $ / Boe								1
Nominal post-tax discount rate								6.50%	6.50%	6.00%
Global oil production %								1.50%
Global gas production %								2.00%
Planning horizon								10 years
Deferred tax								$ 7,815	$ 12,426			7,815
Discount rate term									20 years	30 years
Provision for decommissioning and restoration, undiscounted								33,000				33,000
Amount of provisions expected to be utilized								$ 20,285	$ 22,000			20,285
Decommissioning term								50 years
Onerous contracts provision								$ 1,500	1,700			1,500
Forecast
Disclosure of Climate Change and Energy Transition [Line Items]
Carbon emission expense				$ 1,500			$ 800
Forecast \| Retained earnings
Disclosure of Climate Change and Energy Transition [Line Items]
Increase through realisation of merger reserve								234,000
Brazil, Malaysia and Australia
Disclosure of Climate Change and Energy Transition [Line Items]
Deferred tax								$ 303	711			$ 303
Actuarial assumption of discount rates [member]
Disclosure of Climate Change and Energy Transition [Line Items]
Range of assumptions, possible increase								1.00%				1.00%
Bottom of range
Disclosure of Climate Change and Energy Transition [Line Items]
Impairment loss due to increase in long-term refining margin assumptions								$ 1,000
Impairment reversal due to decrease in long-term refining margin assumptions								1,000
Top of range
Disclosure of Climate Change and Energy Transition [Line Items]
Impairment loss due to increase in long-term refining margin assumptions								3,000
Impairment reversal due to decrease in long-term refining margin assumptions								$ 3,000
IEA NZE50 \| Forecast
Disclosure of Climate Change and Energy Transition [Line Items]
Carbon cost forecast (per tonne) \| $ / Tonne	266	205	177		149	112	97
Shell mid-price
Disclosure of Climate Change and Energy Transition [Line Items]
Carbon cost forecast (per tonne) \| $ / Tonne								125
Shell mid-price \| Forecast
Disclosure of Climate Change and Energy Transition [Line Items]
Carbon cost forecast (per tonne) \| $ / Tonne	125	104	94		84	73	121
Shell High Price
Disclosure of Climate Change and Energy Transition [Line Items]
Carbon cost forecast (per tonne) \| $ / Tonne								220
2040 \| IEA NZE50
Disclosure of Climate Change and Energy Transition [Line Items]
Expected oil price (USD per barrel) \| $ / barrel								31.3
2040 \| Shell mid-price
Disclosure of Climate Change and Energy Transition [Line Items]
Expected oil price (USD per barrel) \| $ / barrel								65
2030 \| IEA NZE50
Disclosure of Climate Change and Energy Transition [Line Items]
Expected oil price (USD per barrel) \| $ / barrel								37.2
2030 \| Shell mid-price
Disclosure of Climate Change and Energy Transition [Line Items]
Expected oil price (USD per barrel) \| $ / barrel								65
Priceline 1
Disclosure of Climate Change and Energy Transition [Line Items]
Number of external price outlooks \| outlook								3
Priceline 1 \| 2039 \| IHS Markit ACCS 2022
Disclosure of Climate Change and Energy Transition [Line Items]
Expected oil price (USD per barrel) \| $ / bbl								36.5
Priceline 1 \| 2050 \| IHS Markit ACCS 2022
Disclosure of Climate Change and Energy Transition [Line Items]
Expected oil price (USD per barrel) \| $ / bbl								94.3
Priceline 1 \| 2050 \| IHS Markit ACCS 2022 \| Henry Hub natural gas ($/MMBtu)
Disclosure of Climate Change and Energy Transition [Line Items]
Expected gas price (USD per barrel) \| $ / MMBTU								3
Priceline 1 \| 2050 \| IHS Markit ACCS 2022 \| European Union
Disclosure of Climate Change and Energy Transition [Line Items]
Expected gas price (USD per barrel) \| $ / MMBTU								5
Priceline 1 \| 2050 \| IHS Markit ACCS 2022 \| Asia
Disclosure of Climate Change and Energy Transition [Line Items]
Expected gas price (USD per barrel) \| $ / MMBTU								6
Priceline 1 \| 2050 \| Woodmac WM AET-1 5 Degree
Disclosure of Climate Change and Energy Transition [Line Items]
Expected oil price (USD per barrel) \| $ / bbl								27
Priceline 1 \| 2050 \| Woodmac WM AET-1 5 Degree \| Henry Hub natural gas ($/MMBtu)
Disclosure of Climate Change and Energy Transition [Line Items]
Expected gas price (USD per barrel) \| $ / MMBTU								3
Priceline 1 \| 2050 \| Woodmac WM AET-1 5 Degree \| European Union
Disclosure of Climate Change and Energy Transition [Line Items]
Expected gas price (USD per barrel) \| $ / MMBTU								5
Priceline 1 \| 2050 \| Woodmac WM AET-1 5 Degree \| Asia
Disclosure of Climate Change and Energy Transition [Line Items]
Expected gas price (USD per barrel) \| $ / MMBTU								6
Priceline 1 \| 2050 \| IEA NZE50
Disclosure of Climate Change and Energy Transition [Line Items]
Expected oil price (USD per barrel) \| $ / barrel								25
Priceline 1 \| 2050 \| IEA NZE50 \| European Union
Disclosure of Climate Change and Energy Transition [Line Items]
Expected gas price (USD per barrel) \| $ / MMBTU								4
Priceline 1 \| 2050 \| IEA NZE50 \| Asia
Disclosure of Climate Change and Energy Transition [Line Items]
Expected gas price (USD per barrel) \| $ / MMBTU								5
Priceline 1 \| 2023 \| IHS Markit ACCS 2022 \| Henry Hub natural gas ($/MMBtu)
Disclosure of Climate Change and Energy Transition [Line Items]
Expected gas price (USD per barrel) \| $ / MMBTU								3.7
Priceline 1 \| 2023 \| IHS Markit ACCS 2022 \| European Union
Disclosure of Climate Change and Energy Transition [Line Items]
Expected gas price (USD per barrel) \| $ / MMBTU								35
Priceline 1 \| 2023 \| Woodmac WM AET-1 5 Degree \| Henry Hub natural gas ($/MMBtu)
Disclosure of Climate Change and Energy Transition [Line Items]
Expected gas price (USD per barrel) \| $ / MMBTU								5
Priceline 1 \| 2023 \| Woodmac WM AET-1 5 Degree \| Asia And Europe
Disclosure of Climate Change and Energy Transition [Line Items]
Expected gas price (USD per barrel) \| $ / MMBTU								30
Priceline 1 \| 2023 \| IEA NZE50 \| Henry Hub natural gas ($/MMBtu)
Disclosure of Climate Change and Energy Transition [Line Items]
Expected gas price (USD per barrel) \| $ / barrel								3.5
Priceline 1 \| 2023 \| IEA NZE50 \| European Union
Disclosure of Climate Change and Energy Transition [Line Items]
Expected gas price (USD per barrel) \| $ / MMBTU								9
Priceline 1 \| 2023 \| IEA NZE50 \| Asia
Disclosure of Climate Change and Energy Transition [Line Items]
Expected gas price (USD per barrel) \| $ / MMBTU								10
Priceline 1 \| 2029 \| IHS Markit ACCS 2022 \| European Union
Disclosure of Climate Change and Energy Transition [Line Items]
Expected gas price (USD per barrel) \| $ / MMBTU								4
Priceline 1 \| 2029 \| IHS Markit ACCS 2022 \| Asia
Disclosure of Climate Change and Energy Transition [Line Items]
Expected gas price (USD per barrel) \| $ / MMBTU								5
Priceline 1 \| 2024 \| Woodmac WM AET-1 5 Degree \| Henry Hub natural gas ($/MMBtu)
Disclosure of Climate Change and Energy Transition [Line Items]
Expected gas price (USD per barrel) \| $ / MMBTU								3
Priceline 1 \| 2045 \| Woodmac WM AET-1 5 Degree \| Henry Hub natural gas ($/MMBtu)
Disclosure of Climate Change and Energy Transition [Line Items]
Expected gas price (USD per barrel) \| $ / MMBTU								4
Priceline 1 \| 2031 \| Woodmac WM AET-1 5 Degree \| European Union
Disclosure of Climate Change and Energy Transition [Line Items]
Expected gas price (USD per barrel) \| $ / MMBTU								5
Priceline 1 \| 2031 \| Woodmac WM AET-1 5 Degree \| Asia
Disclosure of Climate Change and Energy Transition [Line Items]
Expected gas price (USD per barrel) \| $ / MMBTU								6
Priceline 1 \| 2040 \| Woodmac WM AET-1 5 Degree \| European Union
Disclosure of Climate Change and Energy Transition [Line Items]
Expected gas price (USD per barrel) \| $ / MMBTU								8
Priceline 1 \| 2040 \| Woodmac WM AET-1 5 Degree \| Asia
Disclosure of Climate Change and Energy Transition [Line Items]
Expected gas price (USD per barrel) \| $ / MMBTU								10
Priceline 1 \| 2030 \| IEA NZE50 \| Henry Hub natural gas ($/MMBtu)
Disclosure of Climate Change and Energy Transition [Line Items]
Expected gas price (USD per barrel) \| $ / barrel								2
Priceline 1 \| 2030 \| IEA NZE50 \| European Union
Disclosure of Climate Change and Energy Transition [Line Items]
Expected gas price (USD per barrel) \| $ / MMBTU								5
Priceline 1 \| 2030 \| IEA NZE50 \| Asia
Disclosure of Climate Change and Energy Transition [Line Items]
Expected gas price (USD per barrel) \| $ / MMBTU								6
Minimum
Disclosure of Climate Change and Energy Transition [Line Items]
Impairment sensitivity to mid-price outlook								(10.00%)
Minimum \| IEA NZE 2050
Disclosure of Climate Change and Energy Transition [Line Items]
Recoverable amount								$ 2,000				$ 2,000
Maximum
Disclosure of Climate Change and Energy Transition [Line Items]
Impairment sensitivity to mid-price outlook								10.00%
Maximum \| IEA NZE 2050
Disclosure of Climate Change and Energy Transition [Line Items]
Recoverable amount								$ 5,000				5,000
2030
Disclosure of Climate Change and Energy Transition [Line Items]
Proportion of SEC proved reserve								35.00%
2040
Disclosure of Climate Change and Energy Transition [Line Items]
Proportion of SEC proved reserve								5.00%
2050
Disclosure of Climate Change and Energy Transition [Line Items]
Proportion of SEC proved reserve								0.00%
Carrying amount of exploration and evaluation assets
Disclosure of Climate Change and Energy Transition [Line Items]
Property, plant and equipment								$ 6,403	7,099			6,403				$ 19,000
Gas assets \| Minimum \| Priceline 2
Disclosure of Climate Change and Energy Transition [Line Items]
Recoverable amount								4,000	10,000			4,000
Gas assets \| Minimum \| Priceline 3
Disclosure of Climate Change and Energy Transition [Line Items]
Recoverable amount								9,000				9,000
Gas assets \| Maximum \| Priceline 2
Disclosure of Climate Change and Energy Transition [Line Items]
Recoverable amount								6,000	12,000			6,000
Gas assets \| Maximum \| Priceline 3
Disclosure of Climate Change and Energy Transition [Line Items]
Recoverable amount								12,000				12,000
Upstream assets \| Minimum \| Priceline 2
Disclosure of Climate Change and Energy Transition [Line Items]
Recoverable amount								1,000	5,000			1,000
Upstream assets \| Minimum \| Priceline 3
Disclosure of Climate Change and Energy Transition [Line Items]
Recoverable amount								8,000				8,000
Upstream assets \| Maximum \| Priceline 2
Disclosure of Climate Change and Energy Transition [Line Items]
Recoverable amount								2,000	6,000			2,000
Upstream assets \| Maximum \| Priceline 3
Disclosure of Climate Change and Energy Transition [Line Items]
Recoverable amount								11,000				11,000
Refineries
Disclosure of Climate Change and Energy Transition [Line Items]
Property, plant and equipment								$ 6,000	7,000	$ 7,000	$ 14,000	6,000		$ 13,000	$ 14,000	10,000
Decrease through classified as held for sale, property, plant and equipment									1,500
Refineries \| Minimum
Disclosure of Climate Change and Energy Transition [Line Items]
Useful lives of tangible assets								4 years
Refineries \| Maximum
Disclosure of Climate Change and Energy Transition [Line Items]
Useful lives of tangible assets								14 years
PPE other than refineries
Disclosure of Climate Change and Energy Transition [Line Items]
Property, plant and equipment								$ 39,000				39,000
Chemicals segment
Disclosure of Climate Change and Energy Transition [Line Items]
Property, plant and equipment								$ 28,000				28,000
Power infrastructure
Disclosure of Climate Change and Energy Transition [Line Items]
Nominal post-tax discount rate								5.00%
Other
Disclosure of Climate Change and Energy Transition [Line Items]
Property, plant and equipment								$ 25,001	20,409			25,001
Nominal post-tax discount rate								6.50%
Integrated Gas And Upstream Segments
Disclosure of Climate Change and Energy Transition [Line Items]
Disposals of property, plant and equipment													$ 25,000
Integrated Gas And Upstream Segments \| IEA NZE50
Disclosure of Climate Change and Energy Transition [Line Items]
Property, plant and equipment								$ 163,000				163,000
Integrated Gas And Upstream Segments \| IEA NZE50 \| Bottom of range \| Forecast
Disclosure of Climate Change and Energy Transition [Line Items]
Decrease in recoverable amount of assets								17,000
Integrated Gas And Upstream Segments \| IEA NZE50 \| Top of range \| Forecast
Disclosure of Climate Change and Energy Transition [Line Items]
Decrease in recoverable amount of assets								23,000
Integrated Gas And Upstream Segments \| Shell mid-price
Disclosure of Climate Change and Energy Transition [Line Items]
Property, plant and equipment								163,000	154,000			163,000
Integrated Gas And Upstream Segments \| IEA NZE 2050
Disclosure of Climate Change and Energy Transition [Line Items]
Property, plant and equipment								163,000				163,000
Integrated Gas And Upstream Segments \| Production assets
Disclosure of Climate Change and Energy Transition [Line Items]
Property, plant and equipment								117,000				117,000				$ 169,000
Integrated Gas
Disclosure of Climate Change and Energy Transition [Line Items]
Property, plant and equipment								60,800				60,800
Integrated Gas \| Bottom of range \| Actuarial assumption of discount rates [member]
Disclosure of Climate Change and Energy Transition [Line Items]
Increase (decrease) in fair value measurement due to reasonably possible increase in unobservable input, assets								1,000
Integrated Gas \| Top of range \| Actuarial assumption of discount rates [member]
Disclosure of Climate Change and Energy Transition [Line Items]
Increase (decrease) in fair value measurement due to reasonably possible increase in unobservable input, assets								3,000
Integrated Gas \| IEA NZE50
Disclosure of Climate Change and Energy Transition [Line Items]
Property, plant and equipment								75,000				75,000
Integrated Gas \| Shell mid-price
Disclosure of Climate Change and Energy Transition [Line Items]
Property, plant and equipment								75,000	65,000			75,000
Integrated Gas \| IEA NZE 2050
Disclosure of Climate Change and Energy Transition [Line Items]
Property, plant and equipment								75,000				75,000
Integrated Gas \| Priceline 1
Disclosure of Climate Change and Energy Transition [Line Items]
Property, plant and equipment								75,000	65,000			75,000
Integrated Gas \| Priceline 2
Disclosure of Climate Change and Energy Transition [Line Items]
Property, plant and equipment								75,000	65,000			75,000
Integrated Gas \| Priceline 3
Disclosure of Climate Change and Energy Transition [Line Items]
Property, plant and equipment								75,000				75,000
Integrated Gas \| Minimum
Disclosure of Climate Change and Energy Transition [Line Items]
Expected impairment loss with change in measurement input								2,000	12,000
Integrated Gas \| Minimum \| Priceline 1
Disclosure of Climate Change and Energy Transition [Line Items]
Recoverable amount								4,000	13,000			4,000
Integrated Gas \| Maximum
Disclosure of Climate Change and Energy Transition [Line Items]
Expected impairment loss with change in measurement input								5,000	15,000
Integrated Gas \| Maximum \| Priceline 1
Disclosure of Climate Change and Energy Transition [Line Items]
Recoverable amount								6,000	16,000			6,000
Upstream
Disclosure of Climate Change and Energy Transition [Line Items]
Property, plant and equipment								74,500				74,500
Upstream \| Actuarial assumption of discount rates [member]
Disclosure of Climate Change and Energy Transition [Line Items]
Increase (decrease) in fair value measurement due to reasonably possible increase in unobservable input, assets								1,000
Upstream \| IEA NZE50
Disclosure of Climate Change and Energy Transition [Line Items]
Property, plant and equipment								88,000				88,000
Upstream \| Shell mid-price
Disclosure of Climate Change and Energy Transition [Line Items]
Property, plant and equipment								88,000	89,000			88,000
Upstream \| IEA NZE 2050
Disclosure of Climate Change and Energy Transition [Line Items]
Property, plant and equipment								88,000				88,000
Upstream \| Priceline 1
Disclosure of Climate Change and Energy Transition [Line Items]
Property, plant and equipment								88,000	89,000			88,000
Upstream \| Priceline 2
Disclosure of Climate Change and Energy Transition [Line Items]
Property, plant and equipment								88,000	89,000			88,000
Upstream \| Priceline 3
Disclosure of Climate Change and Energy Transition [Line Items]
Property, plant and equipment								88,000				88,000
Upstream \| Minimum
Disclosure of Climate Change and Energy Transition [Line Items]
Expected impairment loss with change in measurement input								2,000	6,000
Upstream \| Minimum \| Priceline 1
Disclosure of Climate Change and Energy Transition [Line Items]
Recoverable amount								1,000	14,000			1,000
Upstream \| Maximum
Disclosure of Climate Change and Energy Transition [Line Items]
Expected impairment loss with change in measurement input								4,000	9,000
Upstream \| Maximum \| Priceline 1
Disclosure of Climate Change and Energy Transition [Line Items]
Recoverable amount								2,000	17,000			2,000
Chemicals and Products
Disclosure of Climate Change and Energy Transition [Line Items]
Property, plant and equipment								38,100				38,100
Chemicals and Products \| Actuarial assumption of discount rates [member]
Disclosure of Climate Change and Energy Transition [Line Items]
Increase (decrease) in fair value measurement due to reasonably possible increase in unobservable input, assets								1,000
Chemicals and Products \| Refineries
Disclosure of Climate Change and Energy Transition [Line Items]
Property, plant and equipment								6,000	6,000			6,000
Chemicals and Products \| Refineries incl in 5 Energy and Chemical parks
Disclosure of Climate Change and Energy Transition [Line Items]
Property, plant and equipment								5,000	5,000			5,000
Marketing
Disclosure of Climate Change and Energy Transition [Line Items]
Property, plant and equipment								19,100				19,100
Other assets								1,600				1,600
Deferred tax								$ 382	854			382
Marketing \| 2030
Disclosure of Climate Change and Energy Transition [Line Items]
Proportion of SEC proved reserve								80.00%
Marketing \| 2040
Disclosure of Climate Change and Energy Transition [Line Items]
Proportion of SEC proved reserve								56.00%
Marketing \| 2050
Disclosure of Climate Change and Energy Transition [Line Items]
Proportion of SEC proved reserve								31.00%
Marketing \| Refineries
Disclosure of Climate Change and Energy Transition [Line Items]
Useful lives of tangible assets								20 years
Trading and Supply
Disclosure of Climate Change and Energy Transition [Line Items]
Other assets								$ 7,000				7,000
Renewables and Energy Solutions
Disclosure of Climate Change and Energy Transition [Line Items]
Property, plant and equipment								3,200				3,200
Renewables and Energy Solutions \| Actuarial assumption of discount rates [member]
Disclosure of Climate Change and Energy Transition [Line Items]
Increase (decrease) in fair value measurement due to reasonably possible increase in unobservable input, assets								1,000
Marketing
Disclosure of Climate Change and Energy Transition [Line Items]
Property, plant and equipment								29,000	$ 25,000	$ 23,000	$ 15,000	29,000		$ 20,000	$ 15,000
Marketing \| Actuarial assumption of discount rates [member]
Disclosure of Climate Change and Energy Transition [Line Items]
Increase (decrease) in fair value measurement due to reasonably possible increase in unobservable input, assets								0
Corporate
Disclosure of Climate Change and Energy Transition [Line Items]
Property, plant and equipment								2,900				$ 2,900
Corporate \| Actuarial assumption of discount rates [member]
Disclosure of Climate Change and Energy Transition [Line Items]
Increase (decrease) in fair value measurement due to reasonably possible increase in unobservable input, assets								$ 0
2030
Disclosure of Climate Change and Energy Transition [Line Items]
Reduction in carbon intensity energy products emission (in percent)								20.00%
Reduction in Scope 1 and 2 emissions								50.00%
2023 \| Minimum
Disclosure of Climate Change and Energy Transition [Line Items]
Reduction in carbon intensity energy products emission (in percent)								6.00%
2023 \| Maximum
Disclosure of Climate Change and Energy Transition [Line Items]
Reduction in carbon intensity energy products emission (in percent)								8.00%
2024 \| Minimum
Disclosure of Climate Change and Energy Transition [Line Items]
Reduction in carbon intensity energy products emission (in percent)								9.00%
2024 \| Maximum
Disclosure of Climate Change and Energy Transition [Line Items]
Reduction in carbon intensity energy products emission (in percent)								12.00%
2025 \| Minimum
Disclosure of Climate Change and Energy Transition [Line Items]
Reduction in carbon intensity energy products emission (in percent)								9.00%
2025 \| Maximum
Disclosure of Climate Change and Energy Transition [Line Items]
Reduction in carbon intensity energy products emission (in percent)								13.00%
2035
Disclosure of Climate Change and Energy Transition [Line Items]
Reduction in carbon intensity energy products emission (in percent)								45.00%
2050
Disclosure of Climate Change and Energy Transition [Line Items]
Reduction in carbon intensity energy products emission (in percent)								100.00%

Trade and other receivables - Summary of Trade and Other Receivables (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Subclassifications of assets, liabilities and equities [abstract]
Trade receivables	$ 39,334	$ 34,717
Lease receivables, current	206	228
Other receivables, current	9,737	8,240
Amounts due from joint ventures and associates, current	2,722	1,048
Prepayments and deferred charges, current	14,511	8,975
Total, current	66,510	53,208
Lease receivables, non-current	1,090	1,285
Other receivables, non-current	3,247	3,761
Amounts due from joint ventures and associates, non-current	423	499
Prepayments and deferred charges, non-current	2,160	1,520
Total, non-current	6,920	7,065
Current income tax receivable	363	550
Non-current income tax receivable	$ 469	$ 366

Trade and other receivables

12 Months Ended

Dec. 31, 2022

Trade and Other Receivables

Trade and other receivables


	$ million
	Dec 31, 2022		Dec 31, 2021
	Current	Non-current	Current	Non-current
Trade receivables	39,334	—	34,717	—
Lease receivables	206	1,090	228	1,285
Other receivables	9,737	3,247	8,240	3,761
Amounts due from joint ventures and associates	2,722	423	1,048	499
Prepayments and deferred charges	14,511	2,160	8,975	1,520
Total	66,510	6,920	53,208	7,065

The fair value of financial assets included above approximates the carrying amount and was determined from predominantly unobservable inputs.

Other receivables at December 31, 2022, include receivables from certain governments in their capacity as joint arrangement partners of $717 million (2021: $1,225 million), after provisions for impairments, that are overdue in part or in full. Recoverability and timing thereof are subject to uncertainty, however, the ultimate risk of default on the carrying amount is considered to be low. Other receivables at December 31, 2022, also included current income tax receivables of $363 million (2021: $550 million) and non-current income tax receivables of $469 million (2021: $366 million).

Provisions for impairments deducted from trade and other receivables amounted to $1,510 million at December 31, 2022 (2021: $1,497 million).

Allowance for expected credit losses - trade receivables

Shell uses a provision matrix to calculate expected credit losses (ECLs) for trade receivables. The provision matrix is initially based on Shell’s historical observed default rates. Shell calculates the ECL to adjust the historical credit loss experienced with forward-looking information.
The ECL at December 31, 2022, is $214 million (2021: $155 million), which represents 0.45-0.54% (2021: 0.45-0.51%) of all trade receivables.

A loss allowance provision of $841 million (2021: $876 million) was established, in addition to all other impairments to trade receivables
as at December 31, 2022, that are outside of the provision matrix calculations.


Lease receivables

Lease contracts where Shell is the lessor are classified as finance leases or operating leases. Receivables for lease contracts classified as finance leases are as follows:


		$ million
	Dec 31, 2022	Dec 31, 2021
Less than one year	257	278
Between 1 and 5 years	792	852
5 years and later	532	715
Total undiscounted lease payments receivable	1,581	1,845
Unearned finance income	270	339
Net investment in leases	1,311	1,506

In addition, at December 31, 2022, Shell is entitled to future contractual payments under operating leases of $389 million (2021: $431 million).

Emissions schemes and related environmental plans (Tables)

12 Months Ended

Dec. 31, 2022

Other Provisions, Contingent Liabilities And Contingent Assets [Abstract]

Summary of Cost Environmental Schemes and Related Environmental Plans


	$ million
	2022	2021	2020
ETS and related schemes	493	331	150
Biofuels [A]	2,918	2,609	1,137
Renewable power	594	455	364
Total	4,005	3,395	1,651

[A]Represents the cost of biofuel certificates required for compliance purposes over and above those generated from self-blending activities.


Purchased environmental certificates (presented under Other intangible assets, see Note 11) [A]

Summary of Emission Schemes and Related Environmental Plans


	$ million
	ETS and related schemes	Biofuels	Renewable power	Total
At January 1, 2022	284	2,362	101	2,747
Additions	385	1,485	468	2,338
Settlements	(256)	(2,142)	(398)	(2,796)
Other movements	27	(104)	(11)	(88)
At December 31, 2022	440	1,601	160	2,201
At January 1, 2021	157	780	76	1,013
Additions	292	2,450	405	3,147
Settlements	(115)	(754)	(355)	(1,224)
Other movements	(50)	(114)	(25)	(189)
At December 31, 2021	284	2,362	101	2,747

[A]Relates to environmental certificates held for compliance purposes.

Summary of Obligations


	$ million
	ETS and related schemes		Biofuels	Renewable power	Total
At January 1, 2022
Current	(270)		(3,262)	(273)	(3,805)
Non-current	—		(182)	(29)	(211)
	(270)		(3,444)	(302)	(4,016)
Additions	(1,237)		(2,916)	(637)	(4,790)
Additions covered by government grants	776	[A]			776
Settlements	292		2,456	499	3,247
Other movements	(19)		58	34	73
	(188)		(402)	(104)	(694)

At December 31, 2022
Current	(458)		(3,424)	(350)	(4,232)
Non-current	—		(422)	(56)	(478)
	(458)		(3,846)	(406)	(4,710)
At January 1, 2021
Current	(154)		(1,549)	(290)	(1,993)
Non-current	—		(54)	(6)	(60)
	(154)		(1,603)	(296)	(2,053)
Additions	(781)		(2,756)	(487)	(4,024)
Additions covered by government grants	456	[A]			456
Settlements	150		755	491	1,396
Other movements	59		160	(10)	209
	(116)		(1,841)	(6)	(1,963)

At December 31, 2021
Current	(270)		(3,262)	(273)	(3,805)
Non-current	—		(182)	(29)	(211)
	(270)		(3,444)	(302)	(4,016)

[A]Emission certificates that were allocated free of charge at an equivalent fair value at grant date.

Other reserves (Tables)

12 Months Ended

Dec. 31, 2022

Share Capital, Reserves And Other Equity Interest [Abstract]

Summary of Other Reserves Attributable to Royal Dutch Shell plc Shareholders


	$ million
	Merger reserve	Share premium reserve	Capital redemption reserve	Share plan reserve	Accumulated other comprehensive income	Total
At January 1, 2022	37,298	154	139	964	(19,646)	18,909
Other comprehensive income attributable to Shell plc shareholders	—	—	—	—	2,024	2,024
Transfer from other comprehensive income	—	—	—	—	(34)	(34)
Repurchases of shares	—	—	57	—	—	57
Share-based compensation	—	—	—	176	—	176
At December 31, 2022	37,298	154	196	1,140	(17,656)	21,132
At January 1, 2021	37,298	154	129	906	(25,735)	12,752
Other comprehensive income attributable to Shell plc shareholders	—	—	—	—	6,134	6,134
Transfer from other comprehensive income	—	—	—	—	(45)	(45)
Repurchases of shares	—	—	10	—	—	10
Share-based compensation	—	—	—	58	—	58
At December 31, 2021	37,298	154	139	964	(19,646)	18,909
At January 1, 2020	37,298	154	123	1,049	(24,173)	14,451
Other comprehensive loss attributable to Shell plc shareholders	—	—	—	—	(1,832)	(1,832)
Transfer from other comprehensive income	—	—	—	—	270	270
Repurchases of shares	—	—	6	—	—	6
Share-based compensation	—	—	—	(143)	—	(143)
At December 31, 2020	37,298	154	129	906	(25,735)	12,752

Summary of Accumulated Other Comprehensive Income Attributable to Royal Dutch Shell plc Shareholders

Accumulated other comprehensive income comprises the following:


Accumulated other comprehensive income attributable to Shell plc shareholders


								$ million
	Currency translation differences	Equity instruments remeasurements	Debt instruments remeasurements	Cash flow hedging (losses)/gains	Net investment hedging (losses)/gains	Deferred cost of hedging	Retirement benefits remeasurements	Total
At January 1, 2022	(9,563)	1,294	3	(536)	(2,144)	(226)	(8,474)	(19,646)
Recognised in other comprehensive income	(3,422)	(524)	(90)	426	180	64	6,982	3,616
Reclassified to income	437	—	12	(636)	—	81	—	(106)
Reclassified to the balance sheet	—	—	—	(81)	—	—	—	(81)
Reclassified to retained earnings	—	(32)	—	—	—	—	(2)	(34)
Tax on amounts recognised/reclassified	(1)	33	—	59	—	55	(1,516)	(1,370)
Total, net of tax	(2,986)	(523)	(78)	(232)	180	200	5,464	2,025
Share of joint ventures and associates	30	(283)	—	244	—	—	30	21
Other comprehensive income/(loss) for the period	(2,956)	(806)	(78)	12	180	200	5,494	2,046
Less: non-controlling interest	(71)	(1)	—	—	—	—	16	(56)
Attributable to Shell plc shareholders	(3,027)	(807)	(78)	12	180	200	5,510	1,990
At December 31, 2022	(12,590)	487	(75)	(524)	(1,964)	(26)	(2,964)	(17,656)
At January 1, 2021	(8,175)	1,144	31	(485)	(2,439)	(187)	(15,624)	(25,735)
Recognised in other comprehensive income	(1,841)	180	(23)	88	295	(145)	10,191	8,745
Reclassified to income	368	—	(5)	(38)	—	92	—	417
Reclassified to the balance sheet	—	—	—	(13)	—	—	—	(13)
Reclassified to retained earnings	—	(45)	—	—	—	—	—	(45)
Tax on amounts recognised/reclassified	60	(35)	—	(16)	—	14	(2,993)	(2,970)
Total, net of tax	(1,413)	100	(28)	21	295	(39)	7,198	6,134
Share of joint ventures and associates	(36)	50	—	(72)	—	—	(48)	(106)
Other comprehensive income/(loss) for the period	(1,449)	150	(28)	(51)	295	(39)	7,150	6,028
Less: non-controlling interest	61	—	—	—	—	—	—	61
Attributable to Shell plc shareholders	(1,388)	150	(28)	(51)	295	(39)	7,150	6,089
At December 31, 2021	(9,563)	1,294	3	(536)	(2,144)	(226)	(8,474)	(19,646)
At January 1, 2020	(9,415)	793	8	(233)	(2,016)	(287)	(13,023)	(24,173)
Recognised in other comprehensive income	1,204	68	31	(9)	(423)	17	(3,455)	(2,567)
Reclassified to income	(28)	—	(8)	(173)	—	94	—	(115)
Reclassified to the balance sheet	—	—	—	16	—	—	—	16
Reclassified to retained earnings	—	169	—	—	—	—	101	270
Tax on amounts recognised/reclassified	3	(4)	—	6	—	(11)	753	747
Total, net of tax	1,179	233	23	(160)	(423)	100	(2,601)	(1,649)
Share of joint ventures and associates	51	118	—	(92)	—	—	—	77
Other comprehensive (loss)/income for the period	1,230	351	23	(252)	(423)	100	(2,601)	(1,572)
Less: non-controlling interest	10	—	—	—	—	—	—	10
Attributable to Shell plc shareholders	1,240	351	23	(252)	(423)	100	(2,601)	(1,562)
At December 31, 2020	(8,175)	1,144	31	(485)	(2,439)	(187)	(15,624)	(25,735)

Financial instruments

12 Months Ended

Dec. 31, 2022

Disclosure of Analysis of Assets Held For Sale [Line Items]

Financial Instruments

Financial instruments

Financial instruments in the Consolidated Balance Sheet include investments in securities (see Note 14), cash and cash equivalents (see Note 17), finance debt (see Note 20) and derivative contracts.

Risks

In the normal course of business, financial instruments of various kinds are used for the purposes of managing exposure to interest rate, foreign exchange and commodity price movements.

Treasury standards are applicable to all subsidiaries and each subsidiary is required to adopt a treasury policy consistent with these standards. These policies cover: financing structure; interest rate and foreign exchange risk management; insurance; counterparty risk management; and use of derivative contracts. Wherever possible, treasury operations are carried out through specialist regional organisations without removing from each subsidiary the responsibility to formulate and implement appropriate treasury policies.

Apart from forward foreign exchange contracts to meet known commitments, the use of derivative contracts by most subsidiaries is not permitted by their treasury policy.

Other than in exceptional cases, the use of external derivative contracts is confined to specialist trading and central treasury organisations that have appropriate skills, experience, supervision, control and reporting systems.

Shell’s operations expose it to market, credit and liquidity risk, as described below.

Market risk

Market risk is the possibility that changes in interest rates, foreign exchange rates or the prices of crude oil, natural gas, LNG, refined products, chemical feedstocks, power and environmental certificates will adversely affect the value of assets, liabilities or expected future cash flows.

Interest rate risk

Most debt is raised from central borrowing programmes. Shell’s policy continues to be to have debt principally denominated in dollars and to maintain a largely floating interest rate exposure profile; however, Shell has issued a significant amount of fixed rate debt in recent years, taking advantage of historically low interest rates available in debt markets. As a result, the majority of the debt portfolio at December 31, 2022, is at fixed rates and this reduces Shell’s adverse exposure to rising floating dollar interest rates (see Note 2).

The financing of most subsidiaries is structured on a floating-rate basis, and any further interest rate risk management is only applied under exceptional circumstances.

On the basis of the floating-rate net cash position at December 31, 2022, (both issued and hedged), and assuming other factors (principally foreign exchange rates and commodity prices) remained constant and that no further interest rate management action was taken, an increase in interest rates of 1% would have increased 2022 income before taxation by $234 million (2021: $174 million increase).

The carrying amounts and maturities of debt and borrowing facilities are presented in Note 20. Interest expense is presented in Note 10.

Foreign exchange risk

Many of the markets in which Shell operates are priced, directly or indirectly, in dollars. As a result, the functional currency of most Integrated Gas and Upstream entities and those with significant cross-border business is the dollar. For Chemicals and Products entities, the functional currency is typically the local currency. Consequently, Shell is exposed to varying levels of foreign exchange risk when an entity enters into transactions that are not denominated in its functional currency, when foreign currency monetary assets and liabilities are translated at the balance sheet date and as a result of holding net investments in operations that are not dollar-functional. Each entity is required to adopt treasury policies that are designed to measure and manage its foreign exchange exposures by reference to its functional currency.

25. Financial instruments continued

Foreign exchange gains and losses arise in the normal course of business from the recognition of receivables and payables and other monetary items in currencies other than an entity’s functional currency. Foreign exchange risk may also arise in connection with capital expenditure. For major projects, an assessment is made at the final investment decision stage of whether to hedge any resulting exposure.

Assuming other factors (principally interest rates and commodity prices) remained constant and that no further foreign exchange risk management action were taken, a 10% appreciation against the dollar at December 31 of the main currencies to which Shell is exposed would have the following effects:


	$ million
	Increase/(decrease) in income before taxation		Increase in net assets
	2022	2021	2022	2021
10% appreciation against the dollar of:
Sterling	(168)	(180)	894	738
Euro	124	(123)	1,486	601
Malaysian ringgit	65	119	313	399
Australian dollar	(65)	(3)	837	591
Canadian dollar	(44)	(44)	1,575	1,439

The above sensitivity information was calculated by reference to carrying amounts of assets and liabilities at December 31 only. The effect on income before taxation arises in connection with monetary balances denominated in currencies other than an entity’s functional currency; the effect on net assets arises principally from the translation of assets and liabilities of entities that are not dollar-functional.

Foreign exchange gains and losses included in income are presented in Note 9.

Commodity price risk

Certain subsidiaries have a mandate to trade crude oil, natural gas, LNG, refined products, chemical feedstocks, power and environmental certificates, and to use commodity derivative contracts (forwards, futures, swaps and options) as a means of managing price and timing risks arising from this trading activity. In effecting these transactions, the entities concerned operate within procedures and policies designed to ensure that risks, including those relating to the default of counterparties, are managed within authorised limits. A department that is independent from Shell's traders monitors market risk exposures daily.

Value-at-risk (VAR) techniques based on variance/covariance or Monte Carlo simulation models are used to make a statistical assessment of the market risk arising from possible future changes in market values for commodity positions held by these subsidiaries over a 1-day holding period and within a 95% confidence level. The calculation of potential changes in fair value takes into account positions, the history of price movements and the correlation of these price movements. Models are regularly reviewed against actual fair value movements to ensure integrity is maintained. The VAR average and year-end positions in respect of commodities traded in active markets, which are presented in the table below, are calculated on a diversified basis in order to reflect the effect of offsetting risk within combined portfolios. 2022 was a year of high market volatility driving higher VAR than historic levels. As a result, Shell operated with enhanced risk management protocols.


Value-at-risk (pre-tax)


				$ million
		2022		2021
	Average	Year-end	Average	Year-end
Global oil	72	56	26	30
North America gas and power	18	23	12	15
Europe gas and power	54	40	11	13
Australia gas and power	12	12	8	6
Environmental certificates	10	13	8	10

Furthermore, commodity derivative hedge contracts are used to partially mitigate price volatility on future LNG sales and purchases.

As contracts to buy and sell physical LNG are accounted for on an accrual basis (see Note 2) and commodity derivatives are accounted for on a fair-value basis, this creates an accounting mismatch over periods. The fair value accounting of commodity derivatives can result in gains or losses in the income statement, which for Adjusted Earnings are part of identified items.

These derivative contracts are based on a mix of European and North American gas price indices, global crude price indices and Asian LNG price indices. In 2022, Shell has seen high volatility in these markets and volumes of financial derivatives increased. On that basis, a sensitivity analysis has been performed for a 50% price increase or decrease of this basket of derivative contracts at year-end 2022, which would result in a gain or loss of $2.7 billion (pre-tax) in the income statement (2021: $0.3 billion).

25. Financial instruments continued

Credit risk

Policies are in place to ensure that sales of products are made to customers with appropriate creditworthiness. These policies include credit analysis and monitoring of trading partners against counterparty credit limits. Credit information is regularly shared between business and finance functions, with dedicated teams in place to quickly identify and respond to cases of credit deterioration. Mitigation measures are defined and implemented for higher-risk business partners and customers, and include shortened payment terms, collateral or other security posting and vigorous collections. In addition, policies limit the amount of credit exposure to any individual financial institution. Elevated commodity prices, mainly in relation to strategic long-term deals in the gas portfolios resulted in a material concentration of credit risk representing around 25% of total Shell net credit exposure after offsetting for cash collateral and other instruments held.

Surplus cash is invested in a range of short-dated, secure and liquid instruments including short-term bank deposits, money market funds, reverse repos and similar instruments. The portfolio of these investments is diversified to avoid concentrating risk in any one instrument, country or counterparty. Management monitors the investments regularly and adjusts the investment portfolio in light of new market information where necessary to ensure credit risk is effectively diversified.

In commodity trading, counterparty credit risk is managed within a framework of credit limits with utilisation being regularly reviewed. Credit risk exposure is monitored and the acceptable level of credit exposure is determined by a credit committee. Credit checks are performed by a department independent of traders, and are undertaken before contractual commitment. Where appropriate, netting arrangements, credit insurance, prepayments and collateral are used to manage specific risks.

Shell routinely enters into offsetting, master netting and similar arrangements with trading and other counterparties to manage credit risk. Where there is a legally enforceable right of offset under such arrangements and Shell has the intention to settle on a net basis or realise the asset and settle the liability simultaneously, the net asset or liability is recognised in the Consolidated Balance Sheet, otherwise assets and liabilities are presented gross. These amounts, as presented net and gross within trade and other receivables, trade and other payables and derivative financial instruments in the Consolidated Balance Sheet at December 31, were as follows:


2022


						$ million
			Amounts offset		Amounts not offset
	Gross amounts before offset	Amounts offset	Net amounts as presented	Cash collateral received/pledged	Other offsetting instruments	Net amounts
Assets:
Within trade receivables	28,259	17,200	11,059	292	495	10,272
Within derivative financial instruments	56,154	34,685	21,469	1,904	4,563	15,002
Liabilities:
Within trade payables	29,981	17,200	12,781	608	495	11,678
Within derivative financial instruments	58,991	34,710	24,281	4,788	3,364	16,129


2021


						$ million
			Amounts offset		Amounts not offset
	Gross amounts before offset	Amounts offset	Net amounts as presented	Cash collateral received/pledged	Other offsetting instruments	Net amounts
Assets:
Within trade receivables	20,561	11,937	8,624	164	283	8,177
Within derivative financial instruments	48,813	39,819	8,994	902	3,098	4,994
Liabilities:
Within trade payables	19,347	11,935	7,412	61	283	7,068
Within derivative financial instruments	54,534	40,350	14,184	697	3,109	10,378

Amounts not offset principally relate to contracts where the intention to settle on a net basis was not clearly established at December 31.

The carrying amount of financial assets pledged as collateral for liabilities or contingent liabilities at December 31, 2022, presented within trade and other receivables, was $11,133 million (2021: $6,968 million). The carrying amount of collateral held at December 31, 2022, presented within trade and other payables, was $1,648 million (2021: $1,909 million). Collateral mainly relates to initial margins held with commodity exchanges and over-the-counter counterparty variation margins. Some derivative contracts are fully cash collateralised, thereby eliminating both counterparty risk and the Group’s own non-performance risk.

25. Financial instruments continued

Liquidity risk

Liquidity risk is the risk that suitable sources of funding for Shell’s business activities may not be available. Management believes that it has access to sufficient debt funding sources (capital markets) and to undrawn committed borrowing facilities to meet foreseeable requirements. Information about borrowing facilities is presented in Note 20.

Interbank Offered Rate (IBOR) reform

USD London Interbank Offered Rate (LIBOR) is the most significant IBOR for Shell. USD LIBOR will cease to be representative after June 30, 2023. Significant IBOR exposures, disaggregated by tenure at December 31, 2022, are as follows:


			$ million
			December 31, 2022
	Non-derivative financial assets - carrying value	Non-derivative financial liabilities - carrying value	Derivatives - Nominal amount
USD LIBOR (1 month)	34
USD LIBOR (3 months)	1,898	1,176	4,754
USD LIBOR (6 months)	238
Cross-currency interest rate swaps:
EUR Fixed to USD LIBOR (3 months)			8,311
GBP Fixed to USD LIBOR (3 months)			1,078
CHF Fixed to USD LIBOR (3 months)			1,359
MYR LIBOR (3 months) to USD LIBOR (3 months)			360

Total	2,170	1,176	15,862

Shell has established a Group-wide IBOR Transition Project, with oversight from the Group Treasurer. The project spans all business lines and has cross-functional senior governance which includes Legal, IT and Finance, including treasury, tax and accounting experts. Shell put in place detailed plans, processes and procedures to support the transition of the affected portfolio including making changes to systems, processes and risk management, as well as related tax and accounting implications. Shell is confident that it has the operational capability to process the transitions to risk-free rates for those interest rate benchmarks such as USD LIBOR that will cease to be representative after June 30, 2023.

Derivative contracts and hedges

Derivative contracts are used principally as hedging instruments, however, because hedge accounting is not always applied, movements in the carrying amounts of derivative contracts that are recognised in income are not always matched in the same period by the recognition of the income effects of the related hedged items.

Carrying amounts, maturities and hedges

The carrying amounts of derivative contracts at December 31, designated and not designated as hedging instruments for hedge accounting purposes, were as follows:


2022


							$ million
	Assets			Liabilities
	Designated	Not designated	Total	Designated	Not designated	Total	Net
Interest rate swaps	—	1	1	169	—	169	(168)
Forward foreign exchange contracts	—	907	907	—	996	996	(89)
Currency swaps and options	31	24	55	2,925	5	2,930	(2,875)
Commodity derivatives	—	23,676	23,676	—	22,858	22,858	818
Other contracts	—	380	380	—	389	389	(9)
Total	31	24,988	25,019	3,094	24,248	27,342	(2,323)

25. Financial instruments continued


2021


							$ million
	Assets			Liabilities
	Designated	Not designated	Total	Designated	Not designated	Total	Net
Interest rate swaps	237	—	237	24	14	38	199
Forward foreign exchange contracts	—	456	456	—	280	280	176
Currency swaps and options	277	22	299	860	33	893	(594)
Commodity derivatives	12	10,979	10,991	—	15,732	15,732	(4,741)
Other contracts	—	201	201	—	255	255	(54)
Total	526	11,658	12,184	884	16,314	17,198	(5,014)

As part of Shell's normal business, commodity derivative hedge contracts are entered into for mitigation of future purchases, sales and inventory. Net gains before tax on derivative contracts, excluding those accounted for as hedges, were $1,331 million in 2022 (2021: $8,377 million losses; 2020: $3,295 million gains).

Certain contracts, mainly to hedge price risk relating to forecast commodity transactions, were designated in cash flow hedging relationships and are presented after the offset of related margin balances with exchanges. Contracts to hedge foreign exchange risks were also designated in cash flow hedging relationships and the net carrying amount of these contracts at December 31, 2022, was a liability of $828 million (2021: $173 million liability). See Note 28 for the accumulated balance recognised within other comprehensive income.

Certain interest rate and currency swaps were designated in fair value hedges, principally in respect of debt for which the net carrying amount of the related derivative contracts, net of accrued interest, at December 31, 2022, was a liability of $2,191 million (2021: $250 million liability).

In 2022, €3 billion (2021: €3 billion) of debt instruments were designated as hedges of net investments in foreign operations, relating to the foreign exchange risk arising between certain intermediate holding companies and their subsidiaries. See Note 28 for the accumulated balance recognised within other comprehensive income.

In the course of trading operations, certain contracts are entered into for delivery of commodities that are accounted for as derivatives. The resulting price exposures are managed by entering into related derivative contracts. These contracts are managed on a fair value basis and the maximum exposure to liquidity risk is the undiscounted fair value of derivative liabilities.

For a minority of commodity derivatives contracts, carrying amounts cannot be derived from quoted market prices or other observable inputs, in which case fair value is estimated using valuation techniques such as Black-Scholes, option spread models and extrapolation using quoted spreads with assumptions developed internally based on observable market activity.

Other contracts include certain contracts that are held to sell or purchase commodities and others containing embedded derivatives, which are required to be recognised at fair value because of pricing or delivery conditions, even though they were entered into to meet operational requirements. These contracts are expected to mature in 2023-2025, with certain contracts having early termination rights (for either party). Valuations are derived from other observable inputs.

The contractual maturities of derivative liabilities at December 31 compare with their carrying amounts in the Consolidated Balance Sheet as follows:


2022


									$ million
	Contractual maturities
	Less than 1 year	Between 1 and 2 years	Between 2 and 3 years	Between 3 and 4 years	Between 4 and 5 years	5 years and later	Total	Difference from carrying amount [A]	Carrying amount
Interest rate swaps	120	50	2	1	1	1	175	(6)	169
Forward foreign exchange contracts	629	294	18	(1)	(2)	(3)	935	61	996
Currency swaps and options	582	554	750	588	507	1,353	4,334	(1,404)	2,930
Commodity derivatives	17,273	3,678	1,203	515	270	793	23,732	(874)	22,858
Other contracts	212	148	22	1	1	—	384	5	389
Total	18,816	4,724	1,995	1,104	777	2,144	29,560	(2,218)	27,342

[A]Mainly related to the effect of discounting.

25. Financial instruments continued


2021


									$ million
	Contractual maturities
	Less than 1 year	Between 1 and 2 years	Between 2 and 3 years	Between 3 and 4 years	Between 4 and 5 years	5 years and later	Total	Difference from carrying amount [A]	Carrying amount
Interest rate swaps	13	13	5	4	3	4	42	(4)	38
Forward foreign exchange contracts	170	40	114	—	—	—	324	(44)	280
Currency swaps and options	321	150	159	287	356	808	2,081	(1,188)	893
Commodity derivatives	12,614	1,401	783	274	158	531	15,761	(29)	15,732
Other contracts	222	34	—	—	—	—	256	(1)	255
Total	13,340	1,638	1,061	565	517	1,343	18,464	(1,266)	17,198

[A]Mainly related to the effect of discounting.

Fair value measurements

The net carrying amounts of derivative contracts held at December 31, categorised according to the predominant source and nature of inputs used in determining the fair value of each contract, were as follows:


2022


				$ million
	Prices in active markets for identical assets/liabilities	Other observable inputs	Unobservable inputs	Total
Interest rate swaps	—	(168)	—	(168)
Forward foreign exchange contracts	—	(89)	—	(89)
Currency swaps and options	—	(2,875)	—	(2,875)
Commodity derivatives	68	(1,161)	1,911	818
Other contracts	—	(7)	(2)	(9)
Total	68	(4,300)	1,909	(2,323)


2021


				$ million
	Prices in active markets for identical assets/liabilities	Other observable inputs	Unobservable inputs	Total
Interest rate swaps	—	199	—	199
Forward foreign exchange contracts	—	176	—	176
Currency swaps and options	—	(594)	—	(594)
Commodity derivatives	41	(5,171)	389	(4,741)
Other contracts	6	(60)	—	(54)
Total	47	(5,450)	389	(5,014)

25. Financial instruments continued


Net carrying amounts of derivative contracts measured using predominantly unobservable inputs


		$ million
	2022	2021
At January 1	389	1,077
Net gains/(losses) recognised in revenue	1,190	(569)
Purchases	886	440
Sales	(623)	(442)
Settlements	46	(32)
Recategorisations (net)	17	(87)
Currency translation differences	4	2
At December 31	1,909	389

Included in net gains/(losses) recognised in revenue in 2022 were unrealised net gains totalling $449 million relating to assets and liabilities held at December 31, 2022 (2021: $175 million losses).

Unrecognised day one gains or losses

Certain long-term commodity contracts extend to periods where observable pricing data are limited and their value may include estimates. Where this is more than an insignificant part of the overall contract valuation, any gains or losses will be deferred. Valuation techniques are further described in Note 2. The unrecognised gains on these derivative contracts at December 31, 2022, were as follows:


		$ million
	2022	2021
At January 1	1,024	968
Movements	596	56
At December 31	1,620	1,024

Trade and other receivables - Maturity Analysis of Finance Lease Receivables (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Disclosure of maturity analysis of finance lease payments receivable [line items]
Total undiscounted lease payments receivable	$ 1,581	$ 1,845
Unearned finance income	270	339
Net investment in leases	1,311	1,506
Less than one year
Disclosure of maturity analysis of finance lease payments receivable [line items]
Total undiscounted lease payments receivable	257	278
Between 1 and 5 years
Disclosure of maturity analysis of finance lease payments receivable [line items]
Total undiscounted lease payments receivable	792	852
5 years and later
Disclosure of maturity analysis of finance lease payments receivable [line items]
Total undiscounted lease payments receivable	$ 532	$ 715

Decommissioning and other provisions - Summary of Decommissioning and Other Provisions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of changes in other provisions [abstract]
Current beginning balance	$ 3,338	$ 3,622
Non-current beginning balance	25,804	27,116
Decommissioning and other provision beginning balance	29,142	30,738
Additions	2,788	3,362
Amounts charged against provisions	(2,521)	(2,445)
Accretion expense	530	450
Disposals and liabilities classified as held for sale	(1,324)	(869)
Remeasurements and other movements	(952)	(1,703)
Currency translation differences	(908)	(391)
Change in decommissioning and other provisions	(2,387)	(1,596)
Current ending balance	2,910	3,338
Non-current ending balance	23,845	25,804
Decommissioning and other provision ending balance	26,755	29,142
Decommissioning and restoration
Reconciliation of changes in other provisions [abstract]
Current beginning balance	871	900
Non-current beginning balance	21,213	22,081
Decommissioning and other provision beginning balance	22,084	22,981
Additions	618	1,040
Amounts charged against provisions	(672)	(662)
Accretion expense	483	405
Disposals and liabilities classified as held for sale	(1,228)	(819)
Remeasurements and other movements	(182)	(609)
Currency translation differences	(818)	(252)
Change in decommissioning and other provisions	(1,799)	(897)
Current ending balance	856	871
Non-current ending balance	19,429	21,213
Decommissioning and other provision ending balance	20,285	22,084
Onerous contracts provision
Reconciliation of changes in other provisions [abstract]
Current beginning balance	653	532
Non-current beginning balance	1,029	1,207
Decommissioning and other provision beginning balance	1,682	1,739
Additions	620	229
Amounts charged against provisions	(661)	(264)
Accretion expense	13	14
Disposals and liabilities classified as held for sale	(66)	0
Remeasurements and other movements	(139)	(36)
Currency translation differences	35	0
Change in decommissioning and other provisions	(198)	(57)
Current ending balance	277	653
Non-current ending balance	1,207	1,029
Decommissioning and other provision ending balance	1,484	1,682
Legal
Reconciliation of changes in other provisions [abstract]
Current beginning balance	270	521
Non-current beginning balance	1,141	1,229
Decommissioning and other provision beginning balance	1,411	1,750
Additions	314	197
Amounts charged against provisions	(272)	(340)
Accretion expense	16	11
Disposals and liabilities classified as held for sale	(21)	(5)
Remeasurements and other movements	(44)	(196)
Currency translation differences	(3)	(6)
Change in decommissioning and other provisions	(10)	(339)
Current ending balance	224	270
Non-current ending balance	1,177	1,141
Decommissioning and other provision ending balance	1,401	1,411
Environmental
Reconciliation of changes in other provisions [abstract]
Current beginning balance	332	273
Non-current beginning balance	847	952
Decommissioning and other provision beginning balance	1,179	1,225
Additions	178	153
Amounts charged against provisions	(211)	(154)
Accretion expense	12	9
Disposals and liabilities classified as held for sale	(2)	(17)
Remeasurements and other movements	(78)	(11)
Currency translation differences	(27)	(26)
Change in decommissioning and other provisions	(128)	(46)
Current ending balance	321	332
Non-current ending balance	730	847
Decommissioning and other provision ending balance	1,051	1,179
Redundancy
Reconciliation of changes in other provisions [abstract]
Current beginning balance	410	673
Non-current beginning balance	235	265
Decommissioning and other provision beginning balance	645	938
Additions	226	991
Amounts charged against provisions	(372)	(733)
Accretion expense	1	1
Disposals and liabilities classified as held for sale	0	(1)
Remeasurements and other movements	(155)	(512)
Currency translation differences	(21)	(39)
Change in decommissioning and other provisions	(321)	(293)
Current ending balance	171	410
Non-current ending balance	153	235
Decommissioning and other provision ending balance	324	645
Other
Reconciliation of changes in other provisions [abstract]
Current beginning balance	802	723
Non-current beginning balance	1,339	1,382
Decommissioning and other provision beginning balance	2,141	2,105
Additions	832	752
Amounts charged against provisions	(333)	(292)
Accretion expense	5	10
Disposals and liabilities classified as held for sale	(7)	(27)
Remeasurements and other movements	(354)	(339)
Currency translation differences	(74)	(68)
Change in decommissioning and other provisions	69	36
Current ending balance	1,061	802
Non-current ending balance	1,149	1,339
Decommissioning and other provision ending balance	$ 2,210	$ 2,141

Taxation - Summary of Reconciliation of Applicable Tax Charge Credit at Statutory Tax Rates to Taxation Charge (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of accounting profit multiplied by applicable tax rates [abstract]
Income/(loss) before taxation	$ 64,815	$ 29,829	$ (26,967)
Less: share of profit of joint ventures and associates	(3,972)	(4,097)	(1,783)
Income/(loss) before taxation and share of profit of joint ventures and associates	60,843	25,732	(28,750)
Applicable tax charge/(credit) at standard statutory tax rates	22,170	10,097	(8,330)
Adjustments in respect of prior periods	(424)	(1,036)	374
Tax effects of:
Expenses not deductible for tax purposes	849	893	1,239
Incentives for investment and development	(1,388)	(467)	(557)
Disposals	39	(328)	(34)
(Recognition)/derecognition of deferred tax assets	(457)	(113)	1,458
Income not subject to tax at standard statutory rates	234	90	6
Exchange rate differences	(102)	53	339
Changes in tax rates and legislation	785	10	(16)
Other reconciling items	235	0	88
Total taxation charge/(credit)	$ 21,941	$ 9,199	$ (5,433)

Assets held for sale (Details) - USD ($)
$ in Millions

Dec. 31, 2022

Dec. 31, 2021

Intangible assets

^[1]

$ 9,662

$ 9,773

198,642

194,932

Investments in securities

23,864

23,415

3,362

3,797

Trade and other current receivables

66,510

53,208

Trade and other non-current receivables

6,920

7,065

31,894

25,258

Current assets

165,938

128,765

Trade and other current payables

277,086

275,614

Total assets

443,024

404,379

Current debt

9,001

8,218

Non-current debt

74,794

80,868

Total

83,795

89,086

^[1]

79,357

63,173

Trade and other non-current payables

3,432

2,075

16,186

12,547

Decommissioning and other provisions, current

^[1]

7,296

11,325

2,910

3,338

Decommissioning and other provisions, non-current

23,845

25,804

Income taxes payable

^[1]

4,869

3,254

Current liabilities

121,311

95,547

Non-current liabilities

129,116

133,506

Total liabilities

250,427

229,053

Assets and liabilities classified as held for sale

Disclosure of Analysis of Assets Held For Sale [Line Items]

Intangible assets

116

2,526

896

Investments in securities

128

Trade and other current receivables

349

Trade and other non-current receivables

Trade and other receivables

420

528

Current assets

877

Trade and other current payables

2,799

1,083

Total assets

2,851

1,960

Current debt

257

Non-current debt

199

Total

456

256

235

Trade and other non-current payables

140

Trade and other payables

278

375

Decommissioning and other provisions, current

108

134

Decommissioning and other provisions, non-current

971

219

Other provisions

1,105

229

Income taxes payable

Current liabilities

401

546

Non-current liabilities

994

707

Total liabilities

$ 1,395

$ 1,253

[1]	Goodwill, previously presented under Intangible assets, is separately presented as from 2022. Prior period comparatives have been revised to conform with current year presentation.

Leases - Schedule of Future Lease Payments Under Lease Contracts (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Disclosure of maturity analysis of operating lease payments [line items]
Contractual lease payments	$ 39,473	$ 40,003
Interest	11,830	12,496
Lease liabilities	27,643	27,507
Less than one year
Disclosure of maturity analysis of operating lease payments [line items]
Contractual lease payments	5,914	5,805
Interest	1,533	1,667
Lease liabilities	4,381	4,138
Between 1 and 5 years
Disclosure of maturity analysis of operating lease payments [line items]
Contractual lease payments	15,624	15,889
Interest	4,655	4,972
Lease liabilities	10,969	10,917
5 years and later
Disclosure of maturity analysis of operating lease payments [line items]
Contractual lease payments	17,935	18,309
Interest	5,642	5,857
Lease liabilities	$ 12,293	$ 12,452

Dividends

12 Months Ended

Dec. 31, 2022

Share Capital, Reserves And Other Equity Interest [Abstract]


Interim dividends


	$ per share			$ million
	2022	2021 [A]	2020 [A]	2022	2021 [B]	2020 [B]

Cash:
March	0.24	0.1665	0.47	1,829	1,290	3,482
June	0.25	0.1735	0.16	1,850	1,331	1,239
September	0.25	0.24	0.16	1,818	1,854	1,236
December	0.25	0.24	0.1665	1,786	1,846	1,313
Total	0.99	0.82	0.9565	7,283	6,321	7,270

[A]In 2021 and 2020 Shell plc declared equal amounts of dividends per A and B share as presented in the table for those years.

[B]Dividends paid on A share totalled in 2021: $3,330 million and in 2020: $3,860 million; dividends paid on B share totalled in 2021: $2,991 million and in 2020: $3,410 million.

On February 2, 2023, the Directors announced a further interim dividend in respect of 2022 of $0.2875 per ordinary share. The total dividend is estimated to be $1,998 million and is payable on March 27, 2023, to shareholders on the register at February 17, 2023.

Shareholders will be able to elect to receive their dividends in US dollars, sterling or euros.

Capital management (Details) - Forecast - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Capital management [Line Items]
Dividend per share growth rate	4.00%	4.00%
Bottom of range
Capital management [Line Items]
Cash capital expenditure	$ 23	$ 19
Shareholder distribution percentage	20.00%	20.00%
Top of range
Capital management [Line Items]
Cash capital expenditure	$ 27	$ 22
Shareholder distribution percentage	30.00%	30.00%

Trade and other receivables - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Disclosure of provision matrix [line items]
Current income tax receivable	$ 363	$ 550
Non-current income tax receivable	469	366
Provisions for impairments deducted from trade and other receivables	1,510	1,497
Loss allowance provisions, trade receivables	841	876
Contractual payments under operating leases	$ 389	$ 431
Bottom of range
Disclosure of provision matrix [line items]
Expected credit loss rate	0.45%	0.45%
Top of range
Disclosure of provision matrix [line items]
Expected credit loss rate	0.54%	0.51%
Loans to government
Disclosure of provision matrix [line items]
Other receivables	$ 717	$ 1,225
Trade receivables
Disclosure of provision matrix [line items]
Allowance account for credit losses of financial assets	$ 214	$ 155

Legal proceedings and contingencies	12 Months Ended
Legal proceedings and contingencies	Dec. 31, 2022
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract]
Legal proceedings and other contingencies	Legal proceedings and other contingencies General In the ordinary course of business, Shell subsidiaries are subject to a number of contingencies arising from litigation and claims brought by governmental authorities, including tax authorities, and private parties. The operations and earnings of Shell subsidiaries continue, from time to time, to be affected to varying degrees by political, legislative, fiscal and regulatory developments, including those relating to the protection of the environment and indigenous groups in the countries in which they operate. The industries in which Shell subsidiaries are engaged are also subject to physical risks of various types. The amounts claimed in relation to such events and, if such claims against Shell were successful, the costs of implementing the remedies sought in the various cases could be substantial. Based on information available to date and taking into account that in some cases it is not practicable to estimate the possible magnitude or timing of any resultant payments, management believes that the foregoing are not expected to have a material adverse impact on Shell’s Consolidated Financial Statements. However, there remains a high degree of uncertainty around these contingencies, as well as their potential effect on future operations, earnings, cash flows and Shell’s financial condition. In certain divestment transactions, liabilities related to decommissioning and restoration are de-recognised upon transfer of these obligations to the buyer. For certain of these obligations Shell has issued guarantees to third parties and continues to be liable in case the primary obligor is not able to meet its obligation. These potential obligations arising from issuance of these guarantees are assessed to be remote. Decommissioning and restoration of manufacturing facilities Prior to 2020, in line with industry practice, Shell’s policy had been not to recognise decommissioning and restoration provisions associated with manufacturing facilities in Oil Products and Chemicals. This was on the basis that these assets were considered to have indefinite lives and, therefore, that it was considered remote that an outflow of economic benefits would be required. In 2020, the changed macroeconomic fundamentals were considered, together with Shell’s plans to rationalise the Group’s manufacturing portfolio. It was also reconsidered whether it remained appropriate not to recognise decommissioning and restoration provisions for manufacturing facilities. 31. Legal proceedings and other contingencies continued It was concluded that the assumption of indefinite lives for manufacturing facilities was no longer appropriate, and the need for either recognition of decommissioning and restoration provisions or contingent liability disclosure was reviewed. In 2020, provisions had been recognised for certain shorter-lived manufacturing facilities, but for the remaining longer-lived facilities, where decommissioning would generally be more than 50 years away, it was concluded that, while there is a present obligation that has arisen from past events, the amount of the obligation cannot be measured with sufficient reliability. This conclusion was reached on the basis that the settlement dates are indeterminate; and that other estimates, such as extremely long-term discount rates for which there is no observable measure, are not reliable. Consequently, a decommissioning and restoration obligation exists that cannot be recognised or quantified and that is disclosed as a contingent liability. Pesticide litigation Shell USA, Inc. (Shell USA), along with another agricultural chemical pesticide manufacturer and several distributors, has been sued by public and quasi-public water purveyors, water storage districts, and private landowners alleging responsibility for groundwater contamination caused by applications of chemical pesticides. There are approximately 34 such cases currently pending, four claims made but not yet filed, and an active subpoena for records. These matters assert various theories of strict liability and negligence, seeking to recover actual damages, including drinking well treatment and remediation costs. Most assert claims for punitive damages. While Shell USA continues to vigorously defend these actions, in January 2018 an environmental regulatory standard became effective in the State of California, where a majority of the suits are pending. The 2018 standard requires public water systems state-wide to perform quarterly or monthly sampling of their drinking water sources for a chemical contained in certain pesticides. Water systems deemed out of compliance with the regulatory standard must take corrective action to resolve the exceedance or take the potable water source out of service. In response to this regulatory standard, Shell USA monitors the sampling results to determine the number of wells potentially impacted. Based on the claims asserted and Shell USA’s history with regard to amounts paid to resolve varying actions, management does not expect the outcome of the matters pending at December 31, 2022, to have a material adverse impact on Shell. However, there remains a high degree of uncertainty regarding the potential outcome of some of these pending lawsuits, as well as their potential effect on future operations, earnings, cash flows and Shell’s financial condition. Climate change litigation In the USA, 22 lawsuits filed by several municipalities and/or states against oil and gas companies, one industry group, and Shell plc are pending as of December 31, 2022. The plaintiffs seek damages for a variety of claims including harm to their public and private infrastructure from rising sea levels and other alleged impacts of climate change caused by the defendants’ fossil fuel products. In the Netherlands, in a case against Shell brought by a group of environmental non-governmental organisations (eNGOs) and individual claimants, the Court found that while Shell is not currently acting unlawfully, Shell must reduce the aggregate annual volume of CO2 emissions of Shell Group operations and energy-carrying products sold across Scopes 1, 2 and 3 by 45% (net) by the end of 2030 relative to its 2019 emissions levels (the "Dutch Court Order"). For Scopes 2 and 3, this is a significant best-efforts obligation. Shell has appealed that ruling. Management believes the outcome of these matters should be resolved in a manner favourable to Shell, but there remains a high degree of uncertainty regarding the ultimate outcome of these lawsuits, as well as their potential effect on future operations, earnings, cash flows and Shell’s financial condition. In the UK, the environmental law group ClientEarth sent a pre-action letter in March 2022 threatening to commence, purportedly on behalf of Shell plc, a legal claim in the UK courts against Shell plc's Board of Directors (known as a "derivative action") regarding the way in which the Directors have allegedly handled "climate change related risk". On February 8, 2023, ClientEarth filed the claim with the English High Court against Shell plc and the current Board of Directors. The claim does not seek monetary relief but asks the Court to order the Directors to: (i) adopt and implement a different strategy to manage climate risk in compliance with their statutory duties; and (ii) comply immediately with the Dutch Court Order. The High Court must grant permission for ClientEarth to proceed with this claim. Louisiana coast litigation The State of Louisiana and multiple local governments have initiated 43 lawsuits against more than 200 oil and gas companies, claiming either current or historical oil and gas operations caused or contributed to contamination, land loss and the erosion of the Louisiana coastline. Shell entities are named in 14 of the suits. Although the State and local parishes fail to claim specified amounts, these claims represent potentially material matters. The cases are of first impression, arise out of an untested 1980 Louisiana statute and represent a novel attempt to render illegal operations that federal and state agencies permitted and authorised at the time. In late 2022, certain jurisdictional questions were decided by a federal appeals court in New Orleans, which resulted in the cases being remanded from federal court back to state court. While disappointed, management believes the outcome of these matters should ultimately be resolved in a manner favourable to Shell; there remains a high degree of uncertainty, however, concerning the scope of the claims and the ultimate outcomes, as well as their potential effects on future operations, earnings, cash flows, reputation and Shell’s financial condition. NAM (Groningen gas field) litigation Since 1963, NAM – a joint venture between Shell and ExxonMobil (50%:50%) – has been producing gas from the Groningen field, the largest gas field in Western Europe. After smaller tremors in the 1990s and the late 2000s, an earthquake measuring 3.6 on the Richter scale occurred in 2012, causing damage to properties in the affected area, and the area continues to experience tremor/earthquake-type events. NAM has received more than 100,000 claims for physical damage to property – the majority of which have been successfully settled. The Dutch State has taken over the damage-claim-handling from NAM for all claim categories (strengthening, physical damage to property, housing value loss, emotional damages and loss of living enjoyment), while NAM remains financially responsible. In February 2022, NAM commenced arbitral proceedings against the State to get clarity on these financial responsibilities. NAM still faces a declining number of claims in civil litigation from claimants who elect not to use the government arrangement or from claims pre-dating the governmental arrangements. These claims include but are not limited to housing claims where NAM was found liable for value loss, emotional damages and loss of living enjoyment and other civil litigation matters. There remains a high degree of uncertainty concerning the ultimate outcomes and their potential effects on future operations, earnings, cash flows, reputation and Shell’s financial condition. 31. Legal proceedings and other contingencies continued Nigerian litigation Shell subsidiaries and associates operating in Nigeria are parties to various environmental, non-environmental and contractual disputes brought in the courts of Nigeria, England and the Netherlands. These disputes are at different stages in litigation, including at the appellate stage, where judgements have been rendered against Shell entities in some of these disputes. If taken at face value, the aggregate amount of these judgements could be seen as material. Management, however, believes that once the outcomes of these matters are ultimately determined, the overall outcome of these disputes will be favourable to Shell. However, there remains a high degree of uncertainty regarding these cases, as well as their potential effect on future operations, earnings, cash flows and Shell’s financial condition. OPL 245 On January 27, 2017, the Nigeria Federal High Court issued an Interim Order of Attachment for Oil Prospecting Licence 245 (OPL 245), pending the conclusion of the investigation. SNEPCO applied for and was granted a discharge of this order on constitutional and procedural grounds. Also in Nigeria, in March 2017, criminal charges alleging official corruption and conspiracy to commit official corruption were filed against SNEPCO, one current Shell employee and third parties including ENI SpA and one of its subsidiaries. Those proceedings are in abeyance. In January 2020, criminal charges alleging disobeying direction of law related to tax waivers were filed in Nigeria against Shell Nigeria Ultra Deep Ltd., SNEPCO, and third parties including Nigeria Agip Exploration Limited (NAE). Those proceedings are ongoing. In March 2017, parties alleging to be shareholders of Malabu Oil and Gas Company Ltd. (Malabu) filed two actions to challenge the 2011 settlement and the award of OPL 245 to SNEPCO and an ENI SpA subsidiary by the Federal Government of Nigeria. Both actions are currently stayed awaiting the outcome of appeals filed against procedural decisions. Those appeal proceedings are ongoing. On May 8, 2018, Human Environmental Development Agenda (HEDA) sought permission from the Federal High Court of Nigeria to apply for an order to direct the Attorney General of the Federation to revoke OPL 245 on grounds that the entire Malabu transaction in relation to the OPL is unconstitutional, illegal and void as it was obtained through fraudulent and corrupt practice. On July 3, 2019, the Nigerian Federal High Court upheld objections from SNEPCO and NAE and struck the lawsuit filed by HEDA. The suit was struck because of the statute of limitations and lack of jurisdiction to hear the matter. HEDA has appealed the judgement, which is ongoing. On December 12, 2018, the Federal Republic of Nigeria (FRN) issued a claim form in the UK against Shell and six of its subsidiaries, ENI SpA and two of its subsidiaries, Malabu as well as two other entities for the amount of $1,092 million plus damages for having participated in a fraudulent and corrupt scheme leading to the acquisition by Shell and ENI corporate defendants in 2011 of OPL 245. The Shell entities were served with proceedings in April and May 2019, following which they, and other defendants, challenged the jurisdiction of the English courts. Following a hearing in April 2020, the English High Court rendered judgement in May 2020, dismissing the claims in England and refusing the FRN’s request for permission to appeal. In September 2020, the UK Court of Appeal also refused the FRN’s permission to appeal, meaning the case is now concluded. On February 14, 2017, Shell plc received a notice of request for indictment from the Milan public prosecutor with respect to this matter. On December 20, 2017, Shell plc and four former Shell employees including one former executive were remanded to trial in Milan. On May 14, 2018, a trial commenced in the Court of Milan. The FRN was admitted as a civil claimant by a court decision on July 20, 2018. On September 18, 2018, Shell was joined to the proceedings as the civilly responsible party for the damages caused by the alleged illegal acts of the four former Shell employees. Three other Shell entities (Shell UK Ltd, Shell Petroleum Development Company of Nigeria Ltd. and Shell Exploration and Production Africa Ltd.) also joined the proceedings as responsible civile for their respective former employees at that phase of the proceedings. On March 17, 2021, the Court of Milan acquitted the Shell entities and four former Shell employees of all charges on the grounds that there was no case to answer. The Court of Milan published the full grounds for its decision on June 9, 2021. The Milan public prosecutor and the FRN appealed the decision to the Court of Appeal. On July 19, 2022, the Milan public prosecutor withdrew its appeal, meaning the criminal case is closed and the acquittal of all defendants is final. On November 11, 2022, the Court of Appeal rejected the FRN’s appeal and ordered the FRN to pay legal costs. The Court of Appeal issued the full grounds for its decision on January 20, 2023. On September 20, 2018, a guilty judgement was filed by the Milan Judge of the Preliminary Hearing in a separate OPL 245 fast-track trial of two individuals, neither of whom worked for or on behalf of Shell. That decision was appealed to the Court of Appeal which rendered its judgement on June 24, 2021, acquitting both individuals. Separate OPL 245 pre-trial criminal proceedings are pending against another individual who also did not work for or on behalf of Shell. On October 2, 2019, the US Department of Justice (DOJ) informed Shell that it was closing its inquiry into Shell in relation to OPL 245. It is understood that the decision was based on the facts available to the DOJ, including ongoing legal proceedings in Europe. On April 22, 2020, the United States Securities and Exchange Commission notified us that it had also closed its inquiry into Shell in relation to OPL 245. On July 21, 2022, the Dutch Public Prosecutor’s office announced it had dismissed its investigation into bribery allegations related to OPL 245. On October 24, 2022, Re:Common, HEDA and Corner House announced that they filed a complaint at the Court of Appeal in The Hague, pursuant to Article 12 of the Dutch Code for Criminal Procedure, challenging the decision by the DPP to dismiss its investigation. There remains a high degree of uncertainty around the OPL 245 matters and contingencies discussed above, as well as their potential effect on future operations, earnings, cash flows and Shell’s financial condition. Accordingly, at this time, it is not practicable to estimate the magnitude and timing of any possible obligations or payments. Any violation of anti-bribery, anti-corruption or anti-money laundering legislation could have a material adverse effect on Shell plc’s earnings, cash flows and financial condition.

Directors and senior management - Summary of Remuneration of Directors of the Company (Details) - Directors - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Directors Remuneration [Line Items]
Emoluments	$ 12	$ 12	$ 6
Value of released awards under long-term incentive plans	7	5	6
Employer contributions to pension plans	$ 1	$ 1	$ 1

Interest expense

12 Months Ended

Dec. 31, 2022

Accounting Policies, Changes In Accounting Estimates And Errors [Abstract]

Interest Expense

Interest expense


$ million
	2022	2021	2020
Interest incurred and similar charges	1,971	2,086	2,174
Interest expense related to leases	1,724	1,987	2,185
Less: interest capitalised	(950)	(917)	(799)
Other net (gains)/losses on fair value and cash flow hedges of debt	(71)	1	32
Accretion expense	507	450	497
Total	3,181	3,607	4,089

The rate applied in determining the amount of interest capitalised in 2022 was 4.0% (2021: 4.0%; 2020: 4.5%)

Significant accounting policies, judgements and estimates

12 Months Ended

Dec. 31, 2022

Significant accounting policies, judgements and estimates

This Note describes Shell’s significant accounting policies, which are those relevant to an understanding of the Consolidated Financial Statements. It includes the measurement bases used in preparing the Consolidated Financial Statements. It allows for an understanding as to how transactions, other events and conditions are reported. It also describes: (a) judgements, apart from those involving estimations, that management makes in applying the policies that have the most significant effect on the amounts recognised in the Consolidated Financial Statements; and (b) estimations, including assumptions about the future, that management makes in applying the policies. The sources of estimation uncertainty that have a significant risk of a material adjustment to the carrying amounts of assets and liabilities within the next financial year are specifically identified as a significant estimate.

The accounting policies applied are consistent with those of the previous financial year except for the adoption as from January 1, 2022, of amendments to IAS 16 Property, Plant and Equipment (IAS 16) and IAS 37 Provisions, Contingent Liabilities and Contingent Assets (IAS 37).

The transition to the accounting pronouncements as listed below has no material impact.

IAS 16 Property, Plant and Equipment: Proceeds before Intended Use

The amendments to IAS 16 prohibit deducting from the cost of an item of property, plant and equipment under construction any proceeds and related costs from selling items produced while bringing these types of assets to the location and condition necessary for them to be capable of operating in the manner intended by management. Instead, the proceeds and related costs are recognised in the Consolidated Statement of Income in accordance with applicable accounting policies.

Prior to these IAS 16 amendments Shell's policy was to deduct any proceeds and related costs from selling items produced against property, plant and equipment under construction.

IAS 37 Provisions, Contingent Liabilities and Contingent Assets: Onerous Contracts - Cost of Fulfilling a Contract

The amendments to IAS 37 provide additional clarity on which costs an entity includes when assessing whether a contract is onerous. The amendments specify that the cost of fulfilling a contract comprises the costs that relate directly to the contract. Those costs include both incremental costs and an allocation of other costs, as long as these relate directly to fulfilling a contract.

Nature of the Consolidated Financial Statements

The Consolidated Financial Statements are presented in US dollars (dollars) and comprise the financial statements of the Company and its subsidiaries, being those entities over which the Company has control, either directly or indirectly, through exposure or rights to their variable returns and the ability to affect those returns through its power over the entities. Information about subsidiaries at December 31, 2022, can be found in Exhibit 8.1: Significant Subsidiaries and Other Related Undertakings.

Subsidiaries are consolidated from the date on which control is obtained until the date that such control ceases, using consistent accounting policies. All inter-company balances and transactions, including unrealised profits arising from such transactions, are eliminated. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. Non-controlling interest represents the proportion of income, other comprehensive income and net assets in subsidiaries that are not attributable to the Company’s shareholders.

2. Significant accounting policies, judgements and estimates continued

Currency translation

Foreign currency transactions are translated using the exchange rate at the dates of the transactions or valuation where items are remeasured. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at quarter-end exchange rates of monetary assets and liabilities denominated in foreign currencies (including those in respect of inter-company balances, unless related to loans of a long-term investment nature) are recognised in income unless when recognised in other comprehensive income in respect of cash flow or net investment hedges. Foreign exchange gains and losses in income are presented within interest and other income or within purchases where not related to financing. Share capital issued in currencies other than the dollar is translated at the exchange rate at the date of issue.

On consolidation, assets and liabilities of non-dollar entities are translated to dollars at year-end rates of exchange, while their statements of income, other comprehensive income and cash flows are translated at quarterly average rates. The resulting translation differences are recognised as currency translation differences within other comprehensive income. Upon sale of all or part of an interest in, or upon liquidation of, an entity, the appropriate portion of cumulative currency translation differences related to that entity is generally recognised in income.

Revenue recognition

Revenue from sales of oil, natural gas, chemicals and other products is recognised at the transaction price to which Shell expects to be entitled, after deducting sales taxes, excise duties and similar levies. For contracts that contain separate performance obligations, the transaction price is allocated to those separate performance obligations by reference to their relative stand-alone selling prices.

Revenue is recognised when control of the products has been transferred to the customer. For sales by Integrated Gas and Upstream operations, this generally occurs when the product is physically transferred into a vessel, pipe or other delivery mechanism; for sales by refining operations, it is either when the product is placed onboard a vessel or offloaded from the vessel, depending on the contractually agreed terms; and for sales of oil products and chemicals, it is either at the point of delivery or the point of receipt, depending on contractual conditions.

Revenue resulting from hydrocarbon production from properties in which Shell has an interest with partners in joint arrangements is recognised on the basis of Shell’s volumes lifted and sold. Revenue resulting from the production of oil and natural gas under production-sharing contracts (PSCs) is recognised for those amounts relating to Shell’s cost recoveries and Shell’s share of the remaining production. Gains and losses on derivative contracts and the revenue and costs associated with other contracts that are classified as held primarily for the purpose of being traded are reported on a net basis in the Consolidated Statement of Income. Purchases and sales of hydrocarbons under exchange contracts that are necessary to obtain or reposition feedstocks for the refinery operations are presented net in the Consolidated Statement of Income.

Revenue resulting from arrangements that are not considered contracts with customers is presented as revenue from other sources.

Research and development

Development costs that are expected to generate probable future economic benefits are capitalised as intangible assets. All other research and development expenditure is recognised in income as incurred.

Exploration costs

Hydrocarbon exploration costs are accounted for under the successful efforts method: exploration costs are recognised in income when incurred, except that exploratory drilling costs, including in respect of the recapitalisation of the depreciation, are included in property, plant and equipment pending determination of proved reserves. Exploration costs capitalised in respect of exploration wells that are more than 12 months old are written off unless: (a) proved reserves are booked; or (b) (i) they have found commercially producible quantities of reserves; and (ii) they are subject to further exploration or appraisal activity in that either drilling of additional exploratory wells is under way or firmly planned for the near future or other activities are being undertaken to sufficiently progress the assessing of reserves and the economic and operating viability of the project.

Property, plant and equipment and intangible assets other than goodwill

Recognition

Property, plant and equipment comprise assets owned by Shell, assets held by Shell under lease contracts, and assets operated by Shell as contractor in PSCs. They include rights and concessions in respect of properties with proved reserves ("proved properties") and with no proved reserves ("unproved properties"). Property, plant and equipment, including expenditure on major inspections, and intangible assets are initially recognised in the Consolidated Balance Sheet at cost where it is probable that they will generate future economic benefits. This includes capitalisation of decommissioning and restoration costs associated with provisions for asset retirement (see "provisions"), certain development costs (see "research and development") and the effects of associated cash flow hedges (see "financial instruments") as applicable. Interest is capitalised as an increase in property, plant and equipment, on major capital projects during construction. The accounting for exploration costs is described separately (see "exploration costs"). Intangible assets other than goodwill include liquefied natural gas (LNG) off-take and sales contracts, environmental certificates, power purchase agreements, software costs, retail customer relationships and trademarks.

Property, plant and equipment and intangible assets other than goodwill are subsequently carried at cost less accumulated depreciation, depletion and amortisation (including any impairment). Gains and losses on sale are determined by comparing the proceeds with the carrying amounts of assets sold and are recognised in income, within interest and other income.

2. Significant accounting policies, judgements and estimates continued

An asset is classified as held for sale if its carrying amount will be recovered principally through sale rather than through continuing use, which is when the sale is highly probable, and it is available for immediate sale in its present condition subject only to terms that are usual and customary for sales of such assets. Assets classified as held for sale are measured at the lower of the carrying amount upon classification and the fair value less costs to sell. Assets classified as held for sale and the associated liabilities are presented separately from other assets and liabilities in the Consolidated Balance Sheet. Once assets are classified as held for sale, property, plant and equipment and intangible assets other than goodwill are no longer subject to depreciation or amortisation.

Depreciation, depletion and amortisation

Property, plant and equipment related to hydrocarbon production activities are in principle depreciated on a unit-of-production basis over the proved developed reserves of the field concerned, other than assets whose useful lives differ from the lifetime of the field which are depreciated applying the straight-line method. However, for certain Integrated Gas and Upstream assets, the use for this purpose of proved developed reserves, which are determined using the Securities and Exchange Commission (SEC) mandated yearly average oil and gas prices, would result in depreciation charges for these assets which do not reflect the pattern in which their future economic benefits are expected to be consumed as, for example, it may result in assets with long-term expected lives having accelerated or being fully depreciated within one year. Therefore, in these instances, other approaches are applied to determine a reserves base for the purpose of calculating depreciation, such as using management’s expectations of future oil and gas prices rather than yearly average prices and using total proved reserves to provide a phasing of periodic depreciation charges that more appropriately reflects the expected utilisation of the assets concerned. (See Note 12)

Rights and concessions in respect of proved properties are depleted on the unit-of-production basis over the total proved reserves of the relevant area. Where individually insignificant, unproved properties may be grouped and depreciated based on factors such as the average concession term and past experience of recognising proved reserves.

Property, plant and equipment held under lease contracts, capitalised LNG off-take and sales contracts and power purchase agreements are depreciated or amortised over the term of the respective contract. Other property, plant and equipment and intangible assets other than goodwill are depreciated or amortised on a straight-line basis over their estimated useful lives. They include energy and chemicals parks (for which the useful life is generally 20 years), retail service stations (for which the useful life is generally 15 years), onshore power infrastructure (for which the useful life is generally 30-35 years), offshore wind assets (for which the useful life is generally 25-30 years) and major inspection costs, which are depreciated over the estimated period before the next planned major inspection (three to five years).

On classification of an asset as held for sale, depreciation ceases.

Estimates of the useful lives and residual values of property, plant and equipment and intangible assets other than goodwill are reviewed annually and adjusted if appropriate.

Impairment

Intangible assets other than goodwill and assets other than unproved properties (see "Exploration costs") are tested for impairment whenever events or changes in circumstances indicate that the carrying amounts for those assets may not be recoverable. If any such indication of impairment exists, the carrying amounts of those assets are written down to their recoverable amount, which is the higher of fair value less
costs of disposal (see "Fair value measurements") and value in use.

Value in use is determined as the amount of estimated risk-adjusted discounted future cash flows. For this purpose, assets are grouped into cash-generating units based on separately identifiable and largely independent cash inflows. Estimates of future cash flows used in the evaluation of impairment of assets are made using management’s forecasts of commodity prices, market supply and demand, potential costs associated with operational greenhouse gas (GHG) emissions, mainly related to CO₂, and forecast product and refining margins. In addition, management takes into consideration the expected useful lives of the manufacturing facilities, exploration and production assets, and expected production volumes. The latter takes into account assessments of field and reservoir performance and includes expectations about both proved reserves and volumes that are expected to constitute proved reserves in the future (unproved volumes), which are risk-weighted utilising geological, production, recovery and economic projections. Cash flow projections are based on management’s most recent operating plan that represents management's best estimate and are risked as appropriate. The discount rate is based on a nominal post-tax weighted average cost of capital (WACC). Prior to 2021, cash flow estimates were discounted at a rate based on Shell's marginal cost of debt. The change in discount rate to a nominal post-tax WACC has been reflected in a commensurate manner in the risk adjustments to cash flow projections. Using a post-tax discount rate to calculate value in use does not result in a materially different outcome than using a pre-tax discount rate. (See Note 12)

Impairments are reversed as applicable to the extent that the events or circumstances that triggered the original impairment have changed.

Impairment losses and reversals are reported within depreciation, depletion and amortisation.

Upon classification of an asset as held for sale, the carrying amount is impaired if this exceeds the fair value less costs to sell.

2. Significant accounting policies, judgements and estimates continued



			Judgements and estimates Proved oil and gas reserves Unit-of-production depreciation, depletion and amortisation charges are principally measured based on management’s estimates of proved developed oil and gas reserves. Also, exploration drilling costs are capitalised pending the results of further exploration or appraisal activity (successful efforts method), which may take place for several years before the final investment decision on a development project is taken and before any related proved reserves can be booked. Proved reserves are estimated by internal qualified professionals. The proved reserves are estimated with reasonable certainty by analysis of available geological and engineering data at the time of the estimation, and only include volumes for which access to market is assured with reasonable expectation. Yearly average oil and gas prices are used for the estimation of proved reserves unless prices are defined by contractual arrangements, excluding escalations based upon future conditions. Proved reserves are subject to regular revision, both upward or downward, based on new information from the drilling of additional wells, observation of long-term reservoir performance under producing conditions, updates of development plans and changes in economic factors, including product prices, contract terms, legislation or development plans. Changes to estimates of proved developed reserves affect prospectively the amounts of depreciation, depletion and amortisation charged and, consequently, the carrying amounts of exploration and production assets. Generally, in the normal course of business the diversity of the asset portfolio will limit the net effect of such revisions. The outcome of, or assessment of plans for, exploration or appraisal activity may result in the related capitalised exploration drilling costs being recognised in income in that period. Judgement is involved in determining when to use an alternative reserves base in order to appropriately reflect the expected utilisation of the assets concerned (see "Depreciation, depletion and amortisation"). Information about the carrying amounts of exploration and production assets and the amounts charged to income, including depreciation, depletion and amortisation and the quantitative impact of the use of an alternative reserves base, is presented in Note 12. Impairment For the purposes of determining whether impairment of assets has occurred, and the extent of any impairment loss or its reversal, the key assumptions management uses in estimating risk-adjusted future cash flows for value in use measures are future oil and gas prices and refining margins. In addition, management uses other assumptions such as potential costs associated with operational GHG emissions and expected production volumes appropriate to the local circumstances and environment. These assumptions and the judgements of management that are based on them are subject to change as new information becomes available. Changes in assumptions could affect the carrying amounts of assets, and any impairment losses and reversals will affect income. Changes in economic conditions can affect the rate used to discount future cash flow estimates or the risk adjustment in the future cash flows. Judgement is applied to conclude whether changes in assumptions or economic conditions are an indicator that an asset may be impaired or that an impairment loss recognised in prior periods may no longer exist, or may have decreased. Expected production volumes, which comprise proved reserves and unproved volumes, are used for impairment testing because management believes this to be the most appropriate indicator of expected future cash flows. Reserves estimates are inherently imprecise. Furthermore, projections about unproved volumes are based on information that is necessarily less robust than that available for mature reservoirs. Estimation is involved with respect to the expected life of energy and chemicals parks, including management’s view on the future development of refining margins. The determination of cash-generating units requires judgement. Changes in this determination could impact the calculation of value in use and therefore the conclusion on the recoverability of assets’ carrying amounts when performing an impairment test. Judgement, which is subject to change as new information becomes available, can be required in determining when an asset is classified as held for sale. A change in that judgement could result in impairment charges affecting income, depending on whether classification requires a write-down of the asset to its fair value less costs to sell. In assessing the value in use, the estimated risk-adjusted future post-tax cash flows are discounted to their present value using a post-tax discount rate that reflects Shell’s post-tax WACC. The discount rate applied does not reflect asset-specific risks for which future cash flow estimates have been adjusted. Significant estimates Assumptions about future commodity prices and refining margins used in the impairment testing in, respectively, Integrated Gas and Upstream and Chemicals and Products (see Note 12) are regularly assessed by management, noting that management does not necessarily consider short-term increases or decreases in prices as being indicative of long-term levels. The price methodology applied is based on Shell management’s understanding and interpretation of demand and supply fundamentals in the near term, taking into account various other factors such as industry rationalisation and energy transition in the long term. Future commodity prices and refining margins used in impairment testing provide a source of estimation uncertainty as referred to in paragraph 125 of IAS 1 Presentation of Financial Statements (IAS 1.125). Information about the carrying amounts of assets and impairments and their sensitivity to changes in significant estimates is presented in Notes 11 and 12.

2. Significant accounting policies, judgements and estimates continued

Goodwill

Goodwill is initially measured as the excess of the aggregate of the consideration transferred and the amount recognised for any non-controlling interest over the fair value of the identifiable assets acquired and liabilities assumed in a business combination at the acquisition date. The amount recognised for any non-controlling interest is measured as a percentage of the identified net assets of the acquiree based on the present ownership's proportionate share. At the acquisition date, acquired goodwill is allocated to each cash-generating unit (CGU), or groups of CGUs, expected to benefit from the combination's synergies. The CGU to which goodwill is allocated represents the lowest level at which the goodwill will be monitored and managed.

Goodwill is not amortised and is subsequently measured at the initial amount recognised less any accumulated impairment losses.

Impairment

The carrying amount of goodwill is tested for impairment at least annually. Impairment is determined for goodwill by assessing the recoverable amount of each CGU to which the goodwill relates. An impairment loss is recognised when the CGU's recoverable amount is lower than its carrying amount.

Previously recognised impairment losses of goodwill are not reversed subsequently.

Leases

A contract, or part of a contract, that conveys the right to control the use of an identified asset for a period of time in exchange for payments to be made to the owners (lessors) is accounted for as a lease. Contracts are assessed to determine whether a contract is, or contains, a lease at the inception of a contract or when the terms and conditions of a contract are significantly changed. The lease term is the non-cancellable period of a lease, together with contractual options to extend or to terminate the lease early, where it is reasonably certain that an extension option will be exercised or a termination option will not be exercised.

At the commencement of a lease contract, a right-of-use asset and a corresponding lease liability are recognised, unless the lease term is 12 months or less. The commencement date of a lease is the date on which the underlying asset is made available for use. The lease liability is measured at an amount equal to the present value of the lease payments during the lease term that are not paid at that date. The lease liability includes contingent rentals and variable lease payments that depend on an index, rate, or where they are fixed payments in substance. The lease liability is remeasured when the contractual cash flows of variable lease payments change due to a change in an index or rate when the lease term changes following a reassessment.

Lease payments are discounted using the interest rate implicit in the lease. If that rate is not readily available, the incremental borrowing rate is applied. The incremental borrowing rate reflects the rate of interest that the lessee would have to pay to borrow over a similar term, with a similar security, the funds necessary to obtain an asset of a similar nature and value to the right-of-use asset in a similar economic environment.

In general, a corresponding right-of-use asset is recognised for an amount equal to each lease liability, adjusted by the amount of any pre-paid lease payment relating to the specific lease contract. The depreciation on right-of-use assets is recognised in income unless capitalised as exploration drilling cost (see "exploration cost") or capitalised when the right-of-use asset is used to construct another asset.

Where Shell is the lessor in a lease arrangement at inception, the lease arrangement will be classified as a finance lease or an operating lease. Classification is based on the extent to which the risks and rewards incidental to ownership of the underlying asset lie with the lessor or the lessee.

Where Shell, usually in its capacity as operator, has entered into a lease contract on behalf of a joint arrangement, a lease liability is recognised to the extent that Shell has primary responsibility for the lease liability. A finance sublease is subsequently recognised if the related right-of-use asset is subleased to the joint arrangement. This is usually the case when the joint arrangement has the right to direct the use and obtains substantially all of the economic benefits from using the asset.

Impairment of the right-of-use asset

Right-of-use assets are subject to existing impairment requirements as set out in "Property, plant and equipment", above, and as presented
in Note 12.



			Judgements and estimates A lease term includes optional lease periods where it is reasonably certain Shell will exercise the option to extend or not exercise the option to terminate the lease. Determination of the lease term is subject to judgement and has an impact on the measurement of the lease liability and related right-of-use asset. When assessing the lease term at the commencement date, Shell takes into consideration the broader economics of the contract. Reassessment of the lease term is performed upon changes in circumstances that may affect the probability that an option to extend or to terminate the lease will be exercised. Where the rate implicit in the lease is not readily available, an incremental borrowing rate is applied. This incremental borrowing rate reflects the rate of interest that the lessee would have to pay to borrow over a similar term, with a similar security, the funds necessary to obtain an asset of a similar nature and value to the right-of-use asset in a similar economic environment. Determination of the incremental borrowing rate requires estimation.

2. Significant accounting policies, judgements and estimates continued

Joint arrangements and associates

Arrangements under which Shell has contractually agreed to share control (see "Nature of the Consolidated Financial Statements" for the definition of control) with another party or parties are joint ventures where the parties have rights to the net assets of the arrangement, or joint operations where the parties have rights to the assets and obligations for the liabilities relating to the arrangement. Investments in entities over which Shell has the right to exercise significant influence but neither control nor joint control are classified as associates. Information about incorporated joint arrangements and associates at December 31, 2022, can be found in Exhibit 8.1: Significant Subsidiaries and Other Related Undertakings.

Investments in joint ventures and associates are accounted for using the equity method, under which the investment is initially recognised at cost and subsequently adjusted for the Shell share of post-acquisition income less dividends received and the Shell share of other comprehensive income and other movements in equity, together with any loans of a long-term investment nature. Where necessary, adjustments are made to the financial statements of joint ventures and associates to bring the accounting policies used into line with those of Shell. In an exchange of assets and liabilities for an interest in a joint venture, the non-Shell share of any excess of the fair value of the assets and liabilities transferred over the pre-exchange carrying amounts is recognised in income. Unrealised gains on other transactions between Shell and its joint ventures and associates are eliminated to the extent of Shell’s interest in them; unrealised losses are treated similarly but may also result in an assessment of whether the asset transferred is impaired.

Shell recognises its assets and liabilities relating to its interests in joint operations, including its share of assets held jointly and liabilities incurred jointly with other partners.

Inventories

Inventories are stated at cost or net realisable value, whichever is lower. Cost comprises direct purchase costs (including transportation), and associated costs incurred in bringing inventories to their present condition and location, and is determined using the first-in, first-out (FIFO) method for oil, gas and chemicals and by the weighted average cost method for materials.

Taxation

The charge for current tax is calculated based on the income reported by the Company and its subsidiaries, as adjusted for items that are
non-taxable or disallowed and using rates that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is determined, using the liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the Consolidated Balance Sheet and on unused tax losses and credits carried forward.

Deferred tax assets and liabilities are calculated using the enacted or substantively enacted rates that are expected to apply when an asset is realised or a liability is settled. They are not recognised where they arise on the initial recognition of goodwill or of an asset or liability in a transaction (other than in a business combination) that, at the time of the transaction, affects neither accounting nor taxable profit, or in respect of taxable temporary differences associated with subsidiaries, joint ventures and associates where the reversal of the respective temporary difference can be controlled by Shell and it is probable that it will not reverse in the foreseeable future.

Deferred tax assets are recognised to the extent that it is probable that future taxable profits will be available against which the deductible temporary differences, unused tax losses and credits carried forward can be utilised.

Income tax receivables and payables as well as deferred tax assets and liabilities include provisions for uncertain income tax positions/treatments.

Income taxes are recognised in income except when they relate to items recognised in other comprehensive income, in which case the tax is recognised in other comprehensive income. Income tax assets and liabilities are presented separately in the Consolidated Balance Sheet except where there is a right of offset within fiscal jurisdictions and an intention to settle such balances on a net basis.



			Judgements and estimates Tax liabilities are recognised when it is considered probable that there will be a future outflow of funds to a taxing authority. In such cases, provision is made for the amount that is expected to be settled, where this can be reasonably estimated. Provisions for uncertain income tax positions/treatments are measured at the most likely amount or the expected value, whichever method is more appropriate. Generally, uncertain tax treatments are assessed on an individual basis, except where they are expected to be settled collectively. It is assumed that taxing authorities will examine positions taken if they have the right to do so and that they have full knowledge of the relevant information. A change in estimate of the likelihood of a future outflow and/or in the expected amount to be settled would be recognised in income in the period in which the change occurs. This requires the application of judgement as to the ultimate outcome, which can change over time depending on facts and circumstances. Judgements mainly relate to transfer pricing, including inter-company financing, interpretation of PSCs, expenditure deductible for tax purposes and taxation arising on disposal.

2. Significant accounting policies, judgements and estimates continued



			Judgements and estimates continued Deferred tax assets are recognised only to the extent it is considered probable that those assets will be recoverable. This involves an assessment of when those assets are likely to reverse, and a judgement as to whether or not there will be sufficient taxable profits available to offset the assets when they do reverse. This requires assumptions regarding future profitability and is therefore inherently uncertain. To the extent assumptions regarding future profitability change, there can be an increase or decrease in the amounts recognised in respect of deferred tax assets as well as in the amounts recognised in income in the period in which the change occurs. Taxation information, including charges and deferred tax assets and liabilities, is presented in Note 22. Income taxes include taxes at higher rates levied on income from certain Integrated Gas and Upstream activities.

Retirement benefits

Benefits in the form of retirement pensions and health care and life insurance are provided to certain employees and retirees under defined benefit and defined contribution plans.

Obligations under defined benefit plans are calculated annually by independent actuaries using the projected unit credit method, which takes into account employees’ years of service and, for pensions, average or final pensionable remuneration, and are discounted to their present value using interest rates of high-quality corporate bonds denominated in the currency in which the benefits will be paid and of a duration consistent with the plan obligations. Where plans are funded, payments are made to independently managed trusts; assets held by those trusts are measured at fair value. Defined benefit plan surpluses are recognised as assets to the extent that they are considered recoverable, which is generally by way of a refund or lower future employer contributions.

The amounts recognised in income in respect of defined benefit plans mainly comprise service cost and net interest. Service cost comprises principally the increase in the present value of the obligation for benefits resulting from employee service during the period (current service cost) and also amounts relating to past service and settlements or amendments of plans. Plan amendments are changes to benefits and are generally recognised when all legal and regulatory approvals have been received and the effects have been communicated to members. Net interest is calculated using the net defined benefit liability or asset matched against the discount rate yield curve at the beginning of each year for each plan. Remeasurements of the net defined benefit liability or asset resulting from actuarial gains and losses, and the return on plan assets excluding the amount recognised in income, are recognised in other comprehensive income.

For defined contribution plans, pension expense represents the amount of employer contributions payable for the period.



			Significant judgements and estimates Defined benefit obligations and plan assets, and the resulting liabilities and assets that are recognised, require significant estimation as these are subject to volatility as (actuarial) assumptions regarding future outcomes and market values change. Substantial judgement is required in determining the actuarial assumptions, which vary for the different plans to reflect local conditions but are determined under a common process in consultation with independent actuaries. The assumptions applied in respect of each plan are reviewed annually and adjusted where necessary to reflect changes in experience and actuarial recommendations. Actuarial assumptions applied in determining defined benefit obligations provide a source of estimation uncertainty as referred to in IAS 1.125. Information about the amounts reported in respect of defined benefit pension plans, assumptions applicable to the principal plans and their sensitivity to changes in significant estimates is presented in Note 23.

Provisions

Provisions are recognised at the balance sheet date at management’s best estimate of the expenditure required to settle the present obligation. Non-current amounts are discounted at a rate intended to reflect the time value of money. The carrying amounts of provisions and the discount rate applied are regularly reviewed and adjusted for new facts or changes in law, technology or financial markets.

2. Significant accounting policies, judgements and estimates continued

Provisions for decommissioning and restoration costs, which arise principally in connection with hydrocarbon production facilities, oil products manufacturing facilities and pipelines, are measured on the basis of current requirements, technology and price levels; the present value is calculated using amounts discounted over the useful economic life of the assets. The liability is recognised (together with a corresponding amount as part of the related property, plant and equipment) once a legal or constructive obligation arises to dismantle an item of property, plant and equipment and to restore the site on which it is located and when a reasonable estimate can be made. The effects of changes resulting from revisions to the timing or the amount of the original estimate of the provision are reflected on a prospective basis, generally by adjustment to the carrying amount of the related property, plant and equipment. However, where there is no related asset, or the change reduces the carrying amount to nil, the effect, or the amount in excess of the reduction in the related asset to nil, is recognised in income.

Shell reviews its energy and chemicals parks on a regular basis to determine whether any changes in assumptions, including expected life, trigger the need to recognise a provision for decommissioning and restoration.

Redundancy provisions are recognised when a detailed formal plan identifies the business or part of the business concerned, the location and number of employees affected, a detailed estimate of the associated costs and an appropriate timeline, and the employees affected have been notified of the plan's main features.

An onerous contract provision is recognised when the unavoidable cost of meeting the obligations under the contract exceeds the economic benefits expected to be received under it. The unavoidable cost under a contract is the lower of the cost of fulfilling the contract and any compensation or penalties arising from failure to fulfil it. The cost of fulfilling a contract comprises the costs that relate directly to the contract. Before an onerous provision is recognised Shell first recognises any impairment loss that has occurred on assets dedicated to that contract.

Other provisions are recognised in income in the period in which an obligation arises and the amount can be reasonably estimated. Provisions are measured based on current legal requirements and existing technology where applicable. Recognition of any joint and several liability is based on management’s best estimate of the final pro rata share of the liability. Provisions are determined independently of expected insurance recoveries. Recoveries are recognised when virtually certain of realisation.



			Estimates Estimates of provisions for future decommissioning and restoration costs are recognised and based on current legal and constructive requirements, technology and price levels. Because actual cash outflows can differ from estimates due to changes in laws, regulations, public expectations, technology, prices and conditions, and can take place many years in the future, the carrying amounts of provisions are regularly reviewed and adjusted to take account of such changes. Significant estimate The discount rate applied to reflect the time value of money in the carrying amount of provisions requires estimation. The discount rate used in the calculation of provisions is the pre-tax rate that reflects current market assessments of the time value of money. Generally, the market assessments of the time value of money can be reflected in the risk-free rate and given the long-term investment nature of oil and gas business, Shell considers it appropriate to use the 20-year US Treasury bond yield return as the risk-free rate. The discount rate applied is reviewed regularly and adjusted following changes in market rates. The discount rate applied to determine the carrying amount of provisions provides a source of estimation uncertainty as referred to in IAS 1.125. Information about decommissioning and restoration provisions and their sensitivity to changes in estimates is presented in Note 24.

Financial instruments

Financial assets and liabilities are presented separately in the Consolidated Balance Sheet except where there is a legally enforceable right of offset and Shell has the intention to settle on a net basis or realise the asset and settle the liability simultaneously.

Financial assets

Financial assets are classified at initial recognition and subsequently measured at amortised cost, fair value through other comprehensive income or fair value through profit or loss. The classification of financial assets is determined by the contractual cash flows and where applicable the business model for managing the financial assets.

Debt instruments are measured at amortised cost, if the objective of the business model is to hold the financial asset in order to collect contractual cash flows and the contractual terms give rise to cash flows that are solely payments of principal and interest. It is initially recognised at fair value plus or minus transaction costs that are directly attributable to the acquisition or issue of the financial asset. Subsequently, the financial asset is measured using the effective interest method less any impairment. Gains and losses are recognised in profit or loss when the asset is derecognised, modified or impaired.

All equity instruments and other debt instruments are recognised at fair value. For equity instruments, on initial recognition, an irrevocable election (on an instrument-by-instrument basis) can be made to designate these as at fair value through other comprehensive income instead of fair value through profit or loss. Dividends received on equity instruments are recognised as other income in profit or loss when the right of payment has been established, except when Shell benefits from such proceeds as a recovery of part of the cost of the financial asset, in which case such gains are recorded in other comprehensive income.

2. Significant accounting policies, judgements and estimates continued

Investments in securities

Investments in securities ("securities") comprise equity and debt securities. Equity securities are carried at fair value. Generally, unrealised holding gains and losses are recognised in other comprehensive income. On sale, net gains and losses previously accumulated in other comprehensive income are transferred to retained earnings. Debt securities are generally carried at fair value with unrealised holding gains and losses recognised in other comprehensive income. On sale, net gains and losses previously accumulated in other comprehensive income are recognised in income.

Impairment of financial assets

The expected credit loss model is applied for recognition and measurement of impairments in financial assets measured at amortised cost or at fair value through other comprehensive income. The expected credit loss model is also applied for financial guarantee contracts to which IFRS 9 applies and which are not accounted for at fair value through profit or loss. The loss allowance for the financial asset is measured at an amount equal to the 12-month expected credit losses. If the credit risk on the financial asset has increased significantly since initial recognition, the loss allowance for the financial asset is measured at an amount equal to the lifetime expected credit losses. Changes in loss allowances are recognised in profit or loss. For trade receivables, a simplified impairment approach is applied recognising expected lifetime losses from initial recognition.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, including offsetting bank overdrafts, short-term bank deposits, money market funds, reverse repos and similar instruments that generally have a maturity of three months or less at the date of purchase.

Financial liabilities

Financial liabilities are measured at amortised cost, unless they are required to be measured at fair value through profit or loss, such as instruments held for trading, or Shell has opted to measure them at fair value through profit or loss. Debt and trade payables are recognised initially at fair value based on amounts exchanged, net of transaction costs, and subsequently at amortised cost except for fixed rate debt subject to fair value hedging which is remeasured for the hedged risk (see below). Interest expense on debt is accounted for using the effective interest method, and other than interest capitalised, is recognised in income. For financial liabilities that are measured under the fair value option, the change in the fair value related to own credit risk is recognised in other comprehensive income. The remaining fair value change is recognised at fair value through profit or loss.

Derivative contracts and hedges

Derivative contracts are used in the management of interest rate risk, foreign exchange risk, commodity price risk, and foreign currency cash balances. Derivatives that are not closely related to the host contract in terms of economic characteristics and risks and the host contract of which is not a financial asset are separated from their host contract and recognised at fair value with the associated gains and losses recognised in income.

Contracts to buy or sell a non-financial item that can be settled net in cash are accounted for as financial instruments, with the exception of those contracts that were entered into and continue to be held for the purpose of the receipt or delivery of a non-financial item in accordance with Shell’s expected purchase, sale or usage requirements. Gains or losses arising from changes in the fair value of derivatives that are not designated as effective hedging instruments are recognised in income.

Certain derivative contracts qualify and are designated either: as a fair value hedge of the change in fair value of a recognised asset or liability or an unrecognised firm commitment; or as a cash flow hedge for the change in cash flows to be received or paid relating to a recognised asset or liability or a highly probable forecast transaction; or as a net investment hedge of the change in foreign exchange rates associated with net investments in foreign operations with a different functional currency than Shell’s functional currency.

A change in the fair value of a hedging instrument designated as a fair value hedge is recognised in income, together with the consequential adjustment to the carrying amount of the hedged item. The effective portion of a change in fair value of a derivative contract designated as a cash flow hedge is recognised in other comprehensive income until the hedged transaction occurs; any ineffective portion is recognised in income. Where the hedged item is a non-financial asset or liability, the amount in accumulated other comprehensive income is transferred to the initial carrying amount of the asset or liability (reclassified to the balance sheet); a net investment hedge is accounted for similarly to a cash flow hedge. Gains or losses on the hedging instrument relating to the effective portion of the hedge are recognised in other comprehensive income while any gains or losses relating to the ineffective portion are recognised in the income statements. On disposal of the foreign operation, the cumulative value of any such gains or losses recorded in other comprehensive income is reclassified to the income statement.

The effective portion of a change due to retranslation at quarter-end exchange rates in the carrying amount of debt and the principal amount of derivative contracts used to hedge net investments in foreign operations is recognised in other comprehensive income until the related investment is sold or liquidated; any ineffective portion is recognised in income.

All relationships between hedging instruments and hedged items are documented, as well as risk management objectives and strategies for undertaking hedge transactions. The effectiveness of hedges is also continually assessed and hedge accounting is discontinued when there is a change in the risk management strategy.

Unless designated as hedging instruments, contracts to sell or purchase non-financial items that can be settled net as if the contracts were financial instruments and that do not meet expected own-use requirements (typically, forward sale and purchase contracts for commodities in trading operations), and contracts that are or contain written options, are recognised at fair value; associated gains and losses are recognised in income.

Derivatives that are held primarily for the purpose of trading are presented as current in the Consolidated Balance Sheet.

2. Significant accounting policies, judgements and estimates continued



			Judgement Judgement is required to determine whether contracts to buy or sell LNG are capable of being settled on a net basis. Due to the limited liquidity in the LNG market and the lack of net settlement history, contracts to buy or sell LNG are not considered capable of being settled on a net basis. As a result, these contracts are accounted for on an accrual basis and not as a financial instrument.

Fair value measurements

Fair value measurements are estimates of the amounts for which assets or liabilities could be transferred at the measurement date, based on the assumption that such transfers take place between participants in principal markets and, where applicable, taking highest and best use into account.



			Estimate Where available, fair value measurements are derived from prices quoted in active markets for identical assets or liabilities. In the absence of such information, other observable inputs are used to estimate fair value. Inputs derived from external sources are corroborated or otherwise verified, as appropriate. In the absence of publicly available information, fair value is determined using estimation techniques that take into account market perspectives relevant to the asset or liability, in as far as they can reasonably be ascertained, based on predominantly unobservable inputs. For derivative contracts where publicly available information is not available, fair value estimations are generally determined using models and other valuation methods, the key inputs for which include future prices, volatility, price correlation, counterparty credit risk and market liquidity, as appropriate; for other assets and liabilities, fair value estimations are generally based on the net present value of expected future cash flows.

Share-based compensation plans

The fair value of share-based compensation expense arising from the Performance Share Plan (PSP) and the Long-term Incentive Plan (LTIP) - Shell’s main equity-settled plans - is estimated using the average Monte Carlo fair values and is recognised in income from the date of grant over the vesting period with a corresponding increase directly in equity. The model projects and averages the results for a range of potential outcomes for the vesting conditions, the principal assumptions for which are the share price volatility and dividend yields for Shell and four of its main competitors using respectively three years and 10 years of historical data.

Shares held in trust

Shares in the Company, which are held by employee share ownership trusts and trust-like entities, are not included in assets but are reflected at cost as a deduction from equity as shares held in trust.

Acquisitions and sales of interests in a business

Assets acquired and liabilities assumed when control is obtained over a business, and when an interest or an additional interest is acquired in a joint operation which is a business, are recognised at their fair value at the date of the acquisition; the amount of the purchase consideration above this value is recognised as goodwill. When control is obtained, any non-controlling interest is recognised as the proportionate share of the identifiable net assets. The acquisition of a non-controlling interest in a subsidiary and the sale of an interest while retaining control are accounted for as transactions within equity. The difference between the purchase consideration or sale proceeds after tax and the relevant proportion of the non-controlling interest, measured by reference to the carrying amount of the interest’s net assets at the date of acquisition or sale, is recognised in retained earnings as a movement in equity attributable to Shell plc shareholders.

Emission schemes and related environmental programmes

Emission certificates, biofuel certificates and renewable power certificates (together "environmental certificates") held for trading purposes are recognised at cost or net realisable value, whichever is lower, and classified under inventory.

Emission trading schemes

Emission certificates acquired for compliance purposes are initially recognised at cost and classified under intangible assets. In the schemes where a cap is set for emissions, the associated emission certificates granted are recognised at cost, which may be zero. An emission liability is recognised under other liabilities when actual emissions occur that give rise to an obligation. To the extent the liability is covered by emission certificates held for compliance purposes, the liability is measured with reference to the value of these emission certificates held and for the remaining uncovered portion at market value. The associated expense is presented under "Production and manufacturing expenses". Both the emission certificates and the emission liability are derecognised upon settling the liability with the respective regulator.

Biofuel programmes

Biofuel certificates acquired that are held for compliance purposes are initially recognised at cost under intangible assets. Self-generated biofuel certificates are recognised at nil value, as they primarily offset the obligation. A biofuel liability is recognised under other liabilities when the obligation arises under local regulations. To the extent covered by biofuel certificates held for compliance purposes, the liability is measured with reference to the value of these certificates held and for the remaining uncovered portion at market value. The associated expense is presented under "purchases". Biofuel certificates and the biofuel liability are both derecognised upon settling the liability with the respective regulator.

2. Significant accounting policies, judgements and estimates continued

Renewable power programmes

Renewable power certificates acquired for compliance purposes are initially recognised at cost as an intangible asset. Self-generated renewable power certificates are generally transferred to the customer upon sales of electricity. A renewable power liability is recognised under other liabilities when electricity sales take place that give rise to an obligation to retire renewable power certificates. The associated cost is recognised in "purchases" in the income statement. If the obligation relates to power consumed in business operations, it is presented in other liabilities with cost reflected in "Production and manufacturing expenses". To the extent covered by renewable power certificates held for compliance purposes, the liability is measured with reference to the value of these renewable power certificates and for the remaining uncovered portion at market value. Renewable power certificates and the renewable power liability are derecognised upon settling the liability with the respective regulator.

Consolidated Statement of Income presentation

Purchases reflect all costs related to the acquisition of inventories and the effects of the changes therein, and include associated costs incurred in conversion into finished or intermediate products. Production and manufacturing expenses are the costs of operating, maintaining and managing production and manufacturing assets. Selling, distribution and administrative expenses include direct and indirect costs of marketing and selling products.

Property, plant and equipment - Summary of Impairments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Impairment losses
Impairments losses	$ 1,799	$ 3,894	$ 26,676
Impairment reversals
Impairment reversals	6,177	214	0
Exploration and production
Impairment losses
Impairments losses	868	1,533	20,155
Impairment reversals
Impairment reversals	5,954	213	0
Manufacturing, supply and distribution
Impairment losses
Impairments losses	474	2,340	6,490
Impairment reversals
Impairment reversals	72	0	0
Other
Impairment losses
Impairments losses	457	21	31
Impairment reversals
Impairment reversals	$ 151	$ 1	$ 0

Interest and other income

12 Months Ended

Dec. 31, 2022

Interest and Other Income

Interest and other income


$ million
	2022	2021	2020
Interest income	1,046	511	679
Dividend income (from investments in equity securities)	216	91	22
Net gains on sale and revaluation of non-current assets and businesses	642	5,995	286
Net foreign exchange (losses)/gains on financing activities	(340)	118	(391)
Other	(649)	341	273
Total	915	7,056	869

In 2022, "Other" includes the full write-down of the Nord Stream 2 loan amounting to $1,126 million. (See Note 6). The remaining income in "Other" mainly relates to amounts recognised in respect of sublease income from partners in joint operations (2022: $319 million, 2021:
$313 million, 2020: $426 million).

In 2021, "Net gains on sale of non-current assets and businesses" arose mainly in respect of gains on the sale of Integrated Gas assets in Australia and Norway, and Upstream assets in the USA and Nigeria.

Interest expense - Narrative (Details)	12 Months Ended
Interest expense - Narrative (Details)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Analysis of income and expense [abstract]
Percentage of interest capitalised	4.00%	4.00%	4.50%

Share-based compensation plans and shares held in trust - Summary of Share-Based Compensation Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Share Based Compensation Expense [Line Items]
Share-based compensation expense	$ 807	$ 539	$ 359
Equity-settled
Disclosure Of Share Based Compensation Expense [Line Items]
Share-based compensation expense	$ 807	$ 539	$ 359

Joint ventures and associates - Summary of Shell Share of Comprehensive Income of Joint Ventures and Associates (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Joint Ventures And Associates [Line Items]
Income for the period	$ 3,972	$ 4,097	$ 1,783
Other comprehensive income/(loss) for the period	21	(106)	77
Comprehensive income for the period	3,993	3,991	1,860
Associates
Disclosure Of Joint Ventures And Associates [Line Items]
Income for the period	1,383	2,142	1,154
Other comprehensive income/(loss) for the period	0	0	1
Comprehensive income for the period	1,383	2,142	1,155
Joint ventures
Disclosure Of Joint Ventures And Associates [Line Items]
Income for the period	2,589	1,955	629
Other comprehensive income/(loss) for the period	21	(106)	76
Comprehensive income for the period	2,610	$ 1,849	$ 705
Joint ventures \| Russia
Disclosure Of Joint Ventures And Associates [Line Items]
Impairment losses	$ 1,614

Debt (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Borrowing Facilities and Amounts Undrawn

Schedule of Debt


	$ million
	Dec 31, 2022			Dec 31, 2021
	Debt (excluding lease liabilities)	Lease liabilities [A]	Total	Debt (excluding lease liabilities)	Lease liabilities [A]	Total
Current debt:	4,620	4,381	9,001	4,080	4,138	8,218
Short-term debt	1,026	—	1,026	515	—	515
Long-term debt due within 1 year	3,594	4,381	7,975	3,565	4,138	7,703
Non-current debt	51,532	23,262	74,794	57,499	23,369	80,868
Total	56,152	27,643	83,795	61,579	27,507	89,086

[A]Further analysis of lease liabilities is provided in Note 21.

Schedule of Net Debt


						$ million
	(Asset)/liability
	Current debt	Non-current debt		Derivative financial instruments	Cash and cash equivalents (see Note 17)	Net debt
At January 1, 2022	8,218	80,868		440	(36,970)	52,556
Cash flow	(7,618)	(254)		(1,799)	(4,012)	(13,683)
Lease additions [A]	1,111	4,077				5,188
Other movements	7,560	(7,883)		1,393	—	1,070
Currency translation differences and foreign exchange (gains)/losses	(270)	(2,014)		1,254	736	(294)
At December 31, 2022	9,001	74,794		1,288	(40,246)	44,837
At January 1, 2021	16,899	91,115		(798)	(31,830)	75,386
Cash flow	(17,887)	(1,842)	[B]	(1,165)	(5,679)	(26,573)
Lease additions [A]	899	2,889				3,788
Other movements	8,655	(9,034)		688	—	309
Currency translation differences and foreign exchange (gains)/losses	(348)	(2,260)		1,715	539	(354)
At December 31, 2021	8,218	80,868		440	(36,970)	52,556

[A]Further analysis of lease liabilities is provided in Note 21.

[B]Includes $3,500 million of early repayment of non-current debt.

$ million

Facility

Amount undrawn

Dec 31, 2022

Dec 31, 2021

Dec 31, 2022

Dec 31, 2021

CP programmes

20,000

EMTN programme

unlimited

N/A

US shelf registration

unlimited

N/A

Committed credit facilities

9,920

Schedule of Difference in Contractual Cash Flows for Debt Excluding Lease Liabilities with the Carrying Amount


	$ million
	Contractual payments
	Less than 1 year	Between 1 and 2 years	Between 2 and 3 years	Between 3 and 4 years	Between 4 and 5 years	5 years and later	Total	Difference from carrying amount	Carrying amount

Bonds	3,365	4,184	6,054	3,817	2,400	35,005	54,825	(1,210)	53,615
Bank and other borrowings	1,229	335	64	156	63	704	2,551	(14)	2,537
Total (excluding interest)	4,594	4,519	6,118	3,973	2,463	35,709	57,376	(1,224)	56,152
Interest	1,669	1,574	1,463	1,314	1,233	14,757	22,010


2021


	$ million
	Contractual payments
	Less than 1 year	Between 1 and 2 years	Between 2 and 3 years	Between 3 and 4 years	Between 4 and 5 years	5 years and later	Total	Difference from carrying amount	Carrying amount

Bonds	3,423	3,376	4,362	6,310	3,882	38,327	59,680	578	60,258
Bank and other borrowings	646	452	36	9	143	35	1,321	—	1,321
Total (excluding interest)	4,069	3,828	4,398	6,319	4,025	38,362	61,001	578	61,579
Interest	1,637	1,587	1,524	1,416	1,268	15,642	23,074

Share capital

12 Months Ended

Dec. 31, 2022

Share Capital, Reserves And Other Equity Interest [Abstract]

Share Capital

Share capital

Issued and fully paid ordinary shares of €0.07 each [A]


	Number of shares			Nominal value			$ million
	A	B	Ordinary shares	A	B	Ordinary shares	Total
At January 1, 2022	4,101,239,499	3,582,892,954		345	296		641
Repurchases of shares before assimilation	—	(34,106,548)		—	(3)		(3)
Assimilation of ordinary A and B shares into ordinary shares	(4,101,239,499)	(3,548,786,406)	7,650,025,905	(345)	(293)	638
Repurchases of B shares on January 27 and 28, 2022, cancelled as ordinary shares on February 2 and 3, 2022			(507,742)			—	—
Repurchases of shares after assimilation			(646,014,770)			(54)	(54)
At December 31, 2022			7,003,503,393			584	584
At January 1, 2021	4,101,239,499	3,706,183,836		345	306		651
Repurchases of shares	—	(123,290,882)		—	(10)		(10)
At December 31, 2021	4,101,239,499	3,582,892,954		345	296		641

[A]Share capital at December 31, 2022, and 2021, also included 50,000 issued and fully paid sterling deferred shares of £1 each.

On January 29, 2022, as part of the Simplification announced on December 20, 2021, the Company's A and B shares were assimilated into a single line of ordinary shares. This is reflected in the above table.

At the Company’s Annual General Meeting (AGM) on May 24, 2022, the Board was authorised to allot ordinary shares in the Company, and to grant rights to subscribe for or to convert any security into ordinary shares in the Company, up to an aggregate nominal amount of €177.0 million (representing 2,530 million ordinary shares of €0.07 each), and to list such shares or rights on any stock exchange. This authority expires at the earlier of the close of business on August 24, 2023, and the end of the AGM to be held in 2023, unless previously renewed, revoked or varied by the Company in a general meeting.

26. Share capital continued

At the May 24, 2022, AGM, shareholders granted the Company the authority to repurchase (i) up to 758 million ordinary shares "on-market" (excluding any treasury shares), less the number of ordinary shares purchased or committed to be purchased in terms of the buyback contracts ("off-market"), made under the authority in (ii); and (ii) up to 758 million ordinary shares off-market, less any on-market purchases made under the authority in (i).

In the case of both on-market and off-market purchases of the ordinary shares, the minimum price, exclusive of expenses, which may be paid for an ordinary share is €0.07 and the maximum price, exclusive of expenses, which may be paid for an ordinary share is the higher of: (i) an amount equal to 5% above the average market value for an ordinary share for the five business days immediately preceding the date of the purchase; and (ii) the higher of the price of the last independent trade and the highest current independent bid in relation to ordinary shares on the trading venues where the purchase is carried out. The authorities for both on-market and off- market purchases of the ordinary shares will expire at the earlier of the close of business on August 24, 2023, and the end of the AGM of the Company to be held in 2023. Ordinary shares purchased by the Company pursuant to these authorities will either be cancelled or held in treasury. Treasury shares are shares in the Company which are owned by the Company itself.

Employees - Summary of Employee Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Analysis of income and expense [abstract]
Remuneration	$ 10,509	$ 9,038	$ 9,128
Social security contributions	860	819	793
Retirement benefits (see Note 23)	1,795	1,696	1,851
Share-based compensation (see Note 27)	807	539	359
Total	$ 13,971	$ 12,092	$ 12,131

Debt - Narrative (Details) $ in Millions	12 Months Ended
Debt - Narrative (Details) $ in Millions	Dec. 31, 2022 USD ($) program extension_option	Dec. 31, 2021 USD ($)
Disclosure of detailed information about borrowings [line items]
CP programmes \| program	2
Debt issued	$ 83,795	$ 89,086
Maximum borrowing capacity	9,920
Fair value of debt excluding finance lease liabilities	51,959	67,066
EMTN programme
Disclosure of detailed information about borrowings [line items]
Debt issued	0	0
US shelf registration
Disclosure of detailed information about borrowings [line items]
Debt issued	$ 0	$ 1,500
Frequency of updates to borrowings	3 years
Committed credit facility, due in 2023
Disclosure of detailed information about borrowings [line items]
Maximum borrowing capacity	$ 1,920
Committed credit facility, due in 2025
Disclosure of detailed information about borrowings [line items]
Maximum borrowing capacity	$ 320
Number of extension options \| extension_option	2
Extension period	1 year
Committed credit facility, due In 2026
Disclosure of detailed information about borrowings [line items]
Maximum borrowing capacity	$ 7,680
Long term commercial paper programme
Disclosure of detailed information about borrowings [line items]
Maximum issuance of debt, long-term	$ 10,000
Debt maturity period, long-term debt	397 days
Short term commercial paper programme
Disclosure of detailed information about borrowings [line items]
Maximum issuance of debt, short-term	$ 10,000
Short term commercial paper programme \| Bottom of range
Disclosure of detailed information about borrowings [line items]
Debt maturity period, long-term debt	183 days
Short term commercial paper programme \| Top of range
Disclosure of detailed information about borrowings [line items]
Debt maturity period, long-term debt	364 days

Leases - Lease Expenses not Included in the Measurement of Lease Liability (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Presentation of leases for lessee [abstract]
Expense relating to short-term leases	$ 552	$ 644
Expense relating to variable lease payments	$ 1,251	$ 1,172

Joint ventures and associates - Summary of Other Arrangements in Respect of Joint Ventures and Associates (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Interests In Other Entities [Abstract]
Commitments to make purchases from joint ventures and associates	$ 1,234	$ 1,437
Commitments to provide debt or equity funding to joint ventures and associates	$ 567	$ 533

Retirement benefits - Summary of Retirement Benefit Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined benefit plans:
Interest income on plan assets	$ (1,732)	$ (1,160)	$ (1,657)
Other	246	(343)	(174)
Total	1,375	1,293	1,428
Defined contribution plans	420	403	423
Total retirement benefit expense	1,795	1,696	1,851
Pensions
Defined benefit plans:
Current service cost, defined benefit plans	1,100	1,385	1,359
Interest expense, defined benefit plans	1,584	1,223	1,683
OPEB
Defined benefit plans:
Current service cost, defined benefit plans	57	60	72
Interest expense, defined benefit plans	$ 120	$ 128	$ 145

Debt - Schedule of Borrowing Facilities and Amounts Undrawn (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
CP programmes
Borrowing Facilities [Line Items]
Facility	$ 20,000	$ 20,000
Amount undrawn	20,000	20,000
Committed credit facilities
Borrowing Facilities [Line Items]
Facility	9,920	9,920
Amount undrawn	$ 9,920	$ 9,920

Climate change and energy transition - Carbon cost forecast (Details) - $ / Tonne	12 Months Ended
	Dec. 31, 2050	Dec. 31, 2040	Dec. 31, 2035	Dec. 31, 2030	Dec. 31, 2025	Dec. 31, 2023	Dec. 31, 2022
Shell mid-price
Disclosure of Climate Change and Energy Transition [Line Items]
Carbon cost forecast (per tonne)							125
Shell mid-price \| Forecast
Disclosure of Climate Change and Energy Transition [Line Items]
Carbon cost forecast (per tonne)	125	104	94	84	73	121
IEA NZE50 \| Forecast
Disclosure of Climate Change and Energy Transition [Line Items]
Carbon cost forecast (per tonne)	266	205	177	149	112	97

Investments in securities - Schedule of Investments in Securities Using Predominantly Unobservable Inputs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Investments In Securities [Line Items]
Investments in securities, at beginning of period	$ 404,379
Investments in securities, at end of period	443,024	$ 404,379
Measured using predominantly unobservable inputs \| Debt And Equity Securities
Disclosure Of Investments In Securities [Line Items]
Investments in securities, at beginning of period	1,707	1,505
(Losses)/gains recognised in other comprehensive income	(206)	44
Purchases	142	299
Sales	(37)	(17)
Other movements	(307)	(124)
Investments in securities, at end of period	$ 1,299	$ 1,707

Withdrawal from Russian oil and gas activities - Narrative (Details) $ in Millions, € in Billions	3 Months Ended		12 Months Ended
	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($) contract energyCompany site	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Oct. 01, 2022 USD ($)	Oct. 01, 2022 EUR (€)
Schedule of interests in other entities [Line Items]
Non-current assets			$ 277,086	$ 275,614
Number of energy companies \| energyCompany			5
Other operating income (expense)		$ 36	$ 649	$ (341)	$ (273)
Adjustments for fair value losses (gains)	$ 133	335
Gazprom Neft
Schedule of interests in other entities [Line Items]
Trade and other payables						$ 1,400	€ 1.3
Right-of-use assets
Schedule of interests in other entities [Line Items]
Impairment losses		$ 114
Shell Neft
Schedule of interests in other entities [Line Items]
Impairment losses			358
Other operating income (expense)			$ 236
Sites owned by subsidiary \| site			240
Sites owned by dealers \| site			171
Proportion of ownership interest in subsidiary		100.00%
Share disposal cost	83
Net foreign exchange loss	$ 343
Salym Petroleum Development N.V
Schedule of interests in other entities [Line Items]
Impairment losses		$ 233
Proportion of ownership interest in joint operation			50.00%
Gydan
Schedule of interests in other entities [Line Items]
Impairment losses		153
Proportion of ownership interest in joint operation	50.00%		50.00%
Other operating income (expense)		35
Khanty-Mansiysk Petroleum Alliance
Schedule of interests in other entities [Line Items]
Proportion of ownership interest in joint operation			50.00%
CJSC Khanty-Mansiysk Petroleum Alliance
Schedule of interests in other entities [Line Items]
Proportion of ownership interest in joint operation			50.00%
Loans receivable
Schedule of interests in other entities [Line Items]
Impairment losses		1,126
Provision for credit commitments
Schedule of interests in other entities [Line Items]
Funding commitment percentage	10.00%
Sakhalin 2
Schedule of interests in other entities [Line Items]
Proportion of ownership interest in associate			27.50%
Impairment losses		$ 1,614
Sakhalin 2 \| Gazprom Neft
Schedule of interests in other entities [Line Items]
Proportion of ownership interest in associate			50.00%
Sakhalin 2 \| Mitsui
Schedule of interests in other entities [Line Items]
Proportion of ownership interest in associate			12.50%
Sakhalin 2 \| Mitsubishi
Schedule of interests in other entities [Line Items]
Proportion of ownership interest in associate			10.00%
Russia
Schedule of interests in other entities [Line Items]
Remaining purchase contracts \| contract			2
Increase/(decrease) in profit (loss) before tax			$ 4,170
Increase/(decrease) in profit (loss)			3,804
Non-current assets			$ 100
Decrease in lease expense	$ 140

Withdrawal from Russian oil and gas activities (Details) - Russia $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)
Schedule of interests in other entities [Line Items]
Revenue	$ (468)
Share of profit of joint ventures and associates	(1,614)
Interest and other income/(expenses)	(1,116)
Selling, distribution and administrative expenses	(104)
Depreciation, depletion and amortisation	(695)
Other	(173)
Loss before taxation	(4,170)
Taxation credit	366
Loss for the period	$ (3,804)

Other reserves

12 Months Ended

Dec. 31, 2022

Share Capital, Reserves And Other Equity Interest [Abstract]

Other Reserves

Other reserves


Other reserves attributable to Shell plc shareholders


	$ million
	Merger reserve	Share premium reserve	Capital redemption reserve	Share plan reserve	Accumulated other comprehensive income	Total
At January 1, 2022	37,298	154	139	964	(19,646)	18,909
Other comprehensive income attributable to Shell plc shareholders	—	—	—	—	2,024	2,024
Transfer from other comprehensive income	—	—	—	—	(34)	(34)
Repurchases of shares	—	—	57	—	—	57
Share-based compensation	—	—	—	176	—	176
At December 31, 2022	37,298	154	196	1,140	(17,656)	21,132
At January 1, 2021	37,298	154	129	906	(25,735)	12,752
Other comprehensive income attributable to Shell plc shareholders	—	—	—	—	6,134	6,134
Transfer from other comprehensive income	—	—	—	—	(45)	(45)
Repurchases of shares	—	—	10	—	—	10
Share-based compensation	—	—	—	58	—	58
At December 31, 2021	37,298	154	139	964	(19,646)	18,909
At January 1, 2020	37,298	154	123	1,049	(24,173)	14,451
Other comprehensive loss attributable to Shell plc shareholders	—	—	—	—	(1,832)	(1,832)
Transfer from other comprehensive income	—	—	—	—	270	270
Repurchases of shares	—	—	6	—	—	6
Share-based compensation	—	—	—	(143)	—	(143)
At December 31, 2020	37,298	154	129	906	(25,735)	12,752

The merger reserve and share premium reserve were established as a consequence of the Company becoming the single parent company of Royal Dutch Petroleum Company and The "Shell" Transport and Trading Company, plc, now The Shell Transport and Trading Company Limited, in 2005. The merger reserve increased in 2016 following the issuance of shares for the acquisition of BG Group plc.

The capital redemption reserve was established in connection with repurchases of shares of the Company.

The share plan reserve is in respect of equity-settled share-based compensation plans (see Note 27). The movement comprises the net of the charge for the year and the release as a result of vested awards.

28. Other reserves continued

Accumulated other comprehensive income comprises the following:


Accumulated other comprehensive income attributable to Shell plc shareholders


								$ million
	Currency translation differences	Equity instruments remeasurements	Debt instruments remeasurements	Cash flow hedging (losses)/gains	Net investment hedging (losses)/gains	Deferred cost of hedging	Retirement benefits remeasurements	Total
At January 1, 2022	(9,563)	1,294	3	(536)	(2,144)	(226)	(8,474)	(19,646)
Recognised in other comprehensive income	(3,422)	(524)	(90)	426	180	64	6,982	3,616
Reclassified to income	437	—	12	(636)	—	81	—	(106)
Reclassified to the balance sheet	—	—	—	(81)	—	—	—	(81)
Reclassified to retained earnings	—	(32)	—	—	—	—	(2)	(34)
Tax on amounts recognised/reclassified	(1)	33	—	59	—	55	(1,516)	(1,370)
Total, net of tax	(2,986)	(523)	(78)	(232)	180	200	5,464	2,025
Share of joint ventures and associates	30	(283)	—	244	—	—	30	21
Other comprehensive income/(loss) for the period	(2,956)	(806)	(78)	12	180	200	5,494	2,046
Less: non-controlling interest	(71)	(1)	—	—	—	—	16	(56)
Attributable to Shell plc shareholders	(3,027)	(807)	(78)	12	180	200	5,510	1,990
At December 31, 2022	(12,590)	487	(75)	(524)	(1,964)	(26)	(2,964)	(17,656)
At January 1, 2021	(8,175)	1,144	31	(485)	(2,439)	(187)	(15,624)	(25,735)
Recognised in other comprehensive income	(1,841)	180	(23)	88	295	(145)	10,191	8,745
Reclassified to income	368	—	(5)	(38)	—	92	—	417
Reclassified to the balance sheet	—	—	—	(13)	—	—	—	(13)
Reclassified to retained earnings	—	(45)	—	—	—	—	—	(45)
Tax on amounts recognised/reclassified	60	(35)	—	(16)	—	14	(2,993)	(2,970)
Total, net of tax	(1,413)	100	(28)	21	295	(39)	7,198	6,134
Share of joint ventures and associates	(36)	50	—	(72)	—	—	(48)	(106)
Other comprehensive income/(loss) for the period	(1,449)	150	(28)	(51)	295	(39)	7,150	6,028
Less: non-controlling interest	61	—	—	—	—	—	—	61
Attributable to Shell plc shareholders	(1,388)	150	(28)	(51)	295	(39)	7,150	6,089
At December 31, 2021	(9,563)	1,294	3	(536)	(2,144)	(226)	(8,474)	(19,646)
At January 1, 2020	(9,415)	793	8	(233)	(2,016)	(287)	(13,023)	(24,173)
Recognised in other comprehensive income	1,204	68	31	(9)	(423)	17	(3,455)	(2,567)
Reclassified to income	(28)	—	(8)	(173)	—	94	—	(115)
Reclassified to the balance sheet	—	—	—	16	—	—	—	16
Reclassified to retained earnings	—	169	—	—	—	—	101	270
Tax on amounts recognised/reclassified	3	(4)	—	6	—	(11)	753	747
Total, net of tax	1,179	233	23	(160)	(423)	100	(2,601)	(1,649)
Share of joint ventures and associates	51	118	—	(92)	—	—	—	77
Other comprehensive (loss)/income for the period	1,230	351	23	(252)	(423)	100	(2,601)	(1,572)
Less: non-controlling interest	10	—	—	—	—	—	—	10
Attributable to Shell plc shareholders	1,240	351	23	(252)	(423)	100	(2,601)	(1,562)
At December 31, 2020	(8,175)	1,144	31	(485)	(2,439)	(187)	(15,624)	(25,735)

Retirement benefits - Summary of Remeasurements (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Actuarial gains/(losses) on obligations:
Total	$ 27,943	$ 2,001	$ (7,971)
Return on plan assets (shortage)/in excess of interest income	(20,612)	8,185	4,509
Other movements	(349)	5	7
Total remeasurements	6,982	10,191	(3,455)
Pensions
Actuarial gains/(losses) on obligations:
Due to changes in financial assumptions	28,840	1,915	(9,500)
Due to experience adjustments	(2,956)	136	616
Due to changes in demographic assumptions	27	(320)	1,310
OPEB
Actuarial gains/(losses) on obligations:
Due to changes in financial assumptions	527	59	(650)
Due to experience adjustments	1,480	322	188
Due to changes in demographic assumptions	25	$ (111)	$ 65
Adjustments for prescription drug rebates	$ 782

Directors and senior management (Tables)

12 Months Ended

Dec. 31, 2022

Related Party [Abstract]

Summary of Remuneration of Directors of the Company


	$ million
	2022	2021	2020
Emoluments	12	12	6
Value of released awards under long-term incentive plans	7	5	6
Employer contributions to pension plans	1	1	1

Summary of Directors and Senior Management Expense


	$ million
	2022	2021	2020
Short-term benefits	33	27	14
Retirement benefits	2	3	3
Share-based compensation	17	16	17
Termination and related amounts	1	2	2
Total	53	48	36

Auditor's remuneration (Tables)

12 Months Ended

Dec. 31, 2022

Summary of Auditor's Remuneration


	$ million
	2022	2021	2020
Fees in respect of the audit of the Consolidated and Parent Company Financial Statements, including audit of consolidation returns	45	39	36
Other audit fees, principally in respect of audits of accounts of subsidiaries	18	18	17
Total audit fees	63	57	53
Audit-related fees	3	3	3
Fees in respect of other non-audit services	3	3	2
Total	69	63	58

Taxation

12 Months Ended

Dec. 31, 2022

Income Taxes [Abstract]

Taxation


Taxation charge


	$ million
	2022	2021	2020
Current tax:
Charge in respect of current period	16,383	7,254	3,272
Adjustments in respect of prior periods	(947)	(719)	(56)
Total	15,436	6,535	3,216
Deferred tax:
Relating to the origination and reversal of temporary differences, tax losses and credits	5,196	2,971	(9,063)
Relating to changes in tax rates and legislation	785	10	(16)
Adjustments in respect of prior periods	524	(317)	430
Total	6,505	2,664	(8,649)
Total taxation charge/(credit)	21,941	9,199	(5,433)

Adjustments in respect of prior periods relate to events in the current period and reflect the effects of changes in rules, facts or other factors compared with those used in establishing the current tax position or deferred tax balance in prior periods. In 2022, this included a release
of a tax provision in Nigeria of $543 million (2021: $628 million).

Adjustments in respect of changes in tax rates and legislation principally relate to the introduction of the UK Energy Profits Levy Act 2022 (EPL)
on July 14, 2022.

Current tax charge in respect of current period includes the European Union (EU) "Council Regulation on an emergency intervention to address high energy prices" (EU solidarity contribution). This resulted in a charge of $528 million recognised in the taxation charge and $940 million recognised in the Shell share of comprehensive income of joint ventures and associates (see Note 13).

On August 16, 2022, the Inflation Reduction Act (IRA) was enacted in the USA. As from 2023, under the IRA a Corporate Minimum Tax
on Book Earnings (BMT) applies a 15% tax on adjusted financial statement income. The enactment of the IRA had no impact in 2022.


Reconciliation of applicable tax charge at statutory tax rates to taxation charge


			$ million
	2022	2021	2020
Income/(loss) before taxation	64,815	29,829	(26,967)
Less: share of profit of joint ventures and associates	(3,972)	(4,097)	(1,783)
Income/(loss) before taxation and share of profit of joint ventures and associates	60,843	25,732	(28,750)
Applicable tax charge/(credit) at standard statutory tax rates	22,170	10,097	(8,330)
Adjustments in respect of prior periods	(424)	(1,036)	374
Tax effects of:
Incentives for investment and development	(1,388)	(467)	(557)
Expenses not deductible for tax purposes	849	893	1,239
Changes in tax rates and legislation	785	10	(16)
(Recognition)/derecognition of deferred tax assets	(457)	(113)	1,458
Income not subject to tax at standard statutory rates	234	90	6
Exchange rate differences	(102)	53	339
Disposals	39	(328)	(34)
Other reconciling items	235	—	88
Taxation charge/(credit)	21,941	9,199	(5,433)


Tax rates


	2022	2021	2020
Weighted average of statutory tax rates	36%	39%	29%
Effective tax rate based on income before taxation	34%	31%	20%
Effective tax rate based on Income before taxation excluding share of profit of joint ventures and associates	36%	36%	19%

22. Taxation continued

Compared with 2021, the decrease in the weighted average of statutory tax rates reflects a lower proportion of earnings in the Upstream segment subject to relatively higher tax rates.


2022 – Deferred tax


						$ million
Deferred tax asset	Decommissioning and other provisions	Property, plant and equipment	Tax losses and credits carried forward	Retirement benefits	Other	Total
At January 1, 2022	6,562	4,993	10,518	2,744	4,545	29,362
(Charge)/credit to income	(217)	(1,261)	(3,434)	(66)	160	(4,818)
Currency translation differences	(303)	(63)	(426)	(40)	(109)	(941)
Other comprehensive income	—	—	18	(618)	70	(530)
Other	7	621	(230)	(43)	161	516
At December 31, 2022	6,049	4,290	6,446	1,977	4,827	23,589
Deferred tax liability
At January 1, 2022		(23,144)		(2,736)	(3,603)	(29,483)
(Charge)/credit to income		(1,503)		93	(277)	(1,687)
Currency translation differences		380		287	170	837
Other comprehensive income		4		(870)	18	(848)
Other		(555)		37	(261)	(779)
At December 31, 2022		(24,818)		(3,189)	(3,953)	(31,960)
Net deferred tax liability at December 31, 2022						(8,371)
Deferred tax asset/liability as presented in the balance sheet at December 31, 2022
Deferred tax asset						7,815
Deferred tax liability						(16,186)


2021 – Deferred tax


						$ million
Deferred tax asset	Decommissioning and other provisions	Property, plant and equipment	Tax losses and credits carried forward	Retirement benefits	Other	Total
At January 1, 2021	6,567	5,232	12,496	3,774	5,084	33,153
(Charge)/credit to income	63	(163)	(1,669)	(537)	(395)	(2,701)
Currency translation differences	(64)	(75)	(252)	(72)	(46)	(509)
Other comprehensive income	(3)	—	64	(435)	(74)	(448)
Other	(1)	(1)	(121)	14	(24)	(133)
At December 31, 2021	6,562	4,993	10,518	2,744	4,545	29,362
Deferred tax liability
At January 1, 2021		(23,801)		(673)	(2,831)	(27,305)
Credit/(charge) to income		566		319	(848)	37
Currency translation differences		71		114	48	233
Other comprehensive income		(18)		(2,481)	4	(2,495)
Other		38		(15)	24	47
At December 31, 2021		(23,144)		(2,736)	(3,603)	(29,483)
Net deferred tax asset at December 31, 2021						(121)
Deferred tax asset/liability as presented in the balance sheet at December 31, 2021
Deferred tax asset						12,426
Deferred tax liability						(12,547)

The presentation in the balance sheet takes into consideration the offsetting of deferred tax assets and deferred tax liabilities within the same tax jurisdiction, where this is permitted. The overall deferred tax position in a particular tax jurisdiction determines if a deferred tax balance related to that jurisdiction is presented within deferred tax assets or deferred tax liabilities.

22. Taxation continued

Other movements in deferred tax assets and liabilities principally related to acquisitions, sales of non-current assets and businesses.

The deferred tax category "Other" primarily includes deferred tax positions in respect of leases, financial assets and liabilities, inventories, intangible assets other goodwill and investments in subsidiaries, joint ventures and associates.

The deferred tax category "Plant, property and equipment" includes deferred tax positions in respect of tangible fixed assets and investments in partnerships in the USA which are considered pass-through entities by its parent for tax purposes.

Deferred tax assets of $7,815 million (2021: $12,426 million) are recognised only to the extent it is considered probable that those assets will be recoverable. This involves an assessment of when those assets are likely to be recovered, and a judgement as to whether or not there will be sufficient taxable profits available to offset the assets. It is considered probable based on business forecasts that such taxable profits will be available. For Marketing as well as Chemicals and Products, additional judgement is required; in some jurisdictions the assessment of forecasted taxable profits resulting in deferred tax asset recognition of $382 million (2021: $854 million) extends for an additional 10 years beyond Shell’s regular 10-year planning horizon. In those situations, additional risking has been applied to the forecast of taxable profits. For Integrated Gas and Upstream, deferred tax assets recognised are expected to be recovered within the period of production of each asset. For deferred tax assets of $303 million (2021: $711 million) as at December 31, 2022, this period extends beyond 10 years.

The amount of deferred tax assets which are dependent on future taxable profits not arising from the reversal of existing deferred tax liabilities, and which relate to tax jurisdictions where Shell has suffered a loss in the current or preceding year, was $4,202 million at December 31, 2022 (2021: $10,195 million). The decrease compared with 2021 is primarily attributable to the utilisation of deferred tax assets in 2022 and a higher number of entities which have generated profit in both the current and preceding year.

Unrecognised taxable temporary differences associated with undistributed retained earnings of investments in subsidiaries, joint ventures and associates amounted to $5,521 million at December 31, 2022 (2021: $5,680 million). These retained earnings are subject to withholding tax upon distribution.

Unrecognised deductible temporary differences, unused tax losses and credits carried forward amounted to $32,491 million at December 31, 2022 (2021: $37,410 million), including amounts of $28,199 million (2021: $31,349 million) that are subject to time limits for utilisation of five years or later, or are not time limited.

Furthermore, there are unrecognised losses for Petroleum Resource Rent Tax (PRRT) in Australia which due to the annual augmentation increased to $43,832 million as at the end of the most recent PRRT fiscal year, June 30, 2022 (June 30, 2021: $42,511 million).

Investments in securities (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Measurement [Abstract]

Schedule of Investments in Securities


	$ million
	Dec 31, 2022	Dec 31, 2021
Equity securities:	1,533	1,710
Equity securities at fair value through other comprehensive income	1,533	1,710
Debt securities:	1,829	2,087
Debt securities at amortised cost	21	4
Debt securities at fair value through other comprehensive income	1,308	1,306
Debt securities at fair value through profit or loss	500	777
Total	3,362	3,797
At fair value
Measured by reference to prices in active markets for identical assets	1,884	1,909
Measured by reference to other observable inputs	158	177
Measured using predominantly unobservable inputs	1,299	1,707
Total	3,341	3,793
At cost	21	4
Total	3,362	3,797

Schedule of Investments in Securities Using Predominantly Unobservable Inputs


	$ million
	2022	2021
At January 1	1,707	1,505
(Losses)/gains recognised in other comprehensive income	(206)	44
Purchases	142	299
Sales	(37)	(17)
Other movements	(307)	(124)
At December 31	1,299	1,707

[A]Based on expected dividend flows, adjusted for country and other risks as appropriate and discounted to their present value.

Climate change and energy transition

12 Months Ended

Dec. 31, 2022

Climate Change and Energy Transition [Abstract]

Climate change and energy transition

4. Climate change and energy transition

This note describes how Shell has considered climate-related impacts in key areas of the financial statements and how this translates into the valuation of assets and measurement of liabilities as Shell makes progress in the energy transition. The note is structured as follows:

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4. Climate change and energy transition continued

Note 2 Significant accounting policies, judgements and estimates describes uncertainties, including those that have the potential to have a material effect on the Consolidated Balance Sheet in the next 12 months. This note describes the key areas of climate impacts that potentially have short-, medium- and longer-term effects on amounts recognised in the Consolidated Balance Sheet at December 31, 2022. Where relevant, this note contains references to other notes to the Consolidated Financial Statements and aims to provide an overarching summary of the energy transition impact.

In 2021, Shell launched its Powering Progress strategy to become a net-zero emissions business by 2050. The strategy includes targets to reduce absolute emissions from its operations and the energy it buys to run them, compared with 2016 levels. Shell's targets include reducing Scope 1 and 2 emissions by 50% by 2030 and reducing the carbon intensity of energy products sold (Scope 1, 2 and 3 emissions) by 6-8% by 2023, 9-12% by 2024, 9-13% by 2025, 20% by 2030, 45% by 2035, and 100% by 2050.

Financial planning and assumptions

This section provides an overview of key assumptions used for financial planning related to climate change and the energy transition. These assumptions that underpin the amounts recognised in these financial statements -- such as future oil and gas prices, discount rates, future costs of decommissioning and restoration, and deferred tax assets -- take climate change and energy transition into account and are similarly used for impairment testing of carrying amounts of assets. Areas described focus on those most pertinent to Shell’s business and how financial planning and assumptions interact with scenarios. Subsequently, the sensitivity of carrying amounts to commodity prices, carbon costs, discount rates and demand, if different assumptions were applied, is described.

There is no one single scenario that underpins the financial statements. Shell scenarios are designed to challenge management’s perspectives on the future business environment and stretch management to consider even events that may be only remotely possible. As a result, these scenarios are not intended to be predictions of likely future events or outcomes and are not the basis for Shell's financial statements and Operating Plans.

Shell scenarios and the range of possible outcomes inform the development of Shell's strategy and Shell’s view on future oil and gas price outlooks and refining margins. These oil and gas price outlooks are one of the key assumptions that underpin Shell’s financial statements. Shell’s scenarios inform high-, mid- and low-price outlooks. The mid-price outlook represents management’s reasonable best estimate and is the basis for Shell's financial statements, Operating Plans and impairment testing. Impairment testing applies management's reasonable best estimates across the full life cycle of assets.

Shell’s targets to reduce absolute Scope 1 and 2 emissions [A] by 50% by 2030, compared with 2016 levels on a net basis, and 20% reduction of net carbon intensity [B] by 2030, have been included in Shell's Operating Plan. The Operating Plan also includes expected costs for evolving carbon regulations (see section "Carbon cost sensitivities" below) based on a forecast of Shell’s equity share of emissions from operated and
non-operated assets also taking into account the estimated impact of free allowances.

[A]Operational control boundary

[B]GHG emissions based on the energy product sales included in the Net Carbon Intensity (NCI) using equity boundary.

Goodwill, other intangible assets, property, plant and equipment and joint ventures and associates

As from January 1, 2022 segments are aligned with the Powering Progress strategy. (see Note 8)

The carrying value of goodwill, other intangible assets, property plant and equipment, and joint ventures and associates by segment as at December 31, 2022, was as follows:


Carrying value


					$ billion
	Goodwill	Other intangible assets	Property, plant and equipment	Joint ventures and associates	Total
Integrated Gas	4.9	3.9	60.8	5.6	75.2
Upstream	5.3	0.2	74.5	7.7	87.7
Chemicals and Products	0.3	2.1	38.1	4.2	44.7
Marketing	3.3	1.8	19.1	4.4	28.6
Renewables and Energy solutions	2.2	1.6	3.2	1.9	8.9
Corporate	—	0.1	2.9	0.1	3.1
Total	16.0	9.7	198.6	23.9	248.2

For Integrated Gas and Upstream, sensitivity to commodity prices and carbon prices has been tested (see below) covering the carrying amount of goodwill, other intangible assets, property plant and equipment, and joint ventures and associates. Sensitivity testing was performed applying alternative price scenarios to the forecasted cash flows for the whole period until the end of life of the asset tested. For Chemicals and Products, sensitivity to refining margins has been tested (see below). Marketing and Renewables and Energy Solutions are expected to be resilient through the energy transition with limited exposure of stranded assets.

In addition, sensitivity to changes in the discount rate applied in impairment testing has also been tested (see below).

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Carrying value of Integrated Gas and Upstream assets


Carrying value of Integrated Gas and Upstream assets $ billion as at December 31

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Carrying value of production assets $ billion as at December 31

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Carrying value of exploration and evaluation assets $ billion as at December 31

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[A]IIncluding right of use assets for the implementation of IFRS 16 Leases in 2019.


Carrying amount of Integrated Gas and Upstream assets


							$ billion
	2016	2017	2018	2019	2020	2021	2022
Integrated Gas	95	94	91	93	79	75	75
Upstream	136	128	123	119	106	91	88
Total at December 31	231	222	214	212	185	166	163


Carrying amount of production assets


							$ billion
	2016	2017	2018	2019	2020	2021	2022
At December 31	169	154	149	141	125	112	111
Right of use assets				9	7	6	6
Total at December 31	169	154	149	150	132	118	117


Carrying amount of exploration and evaluation assets


							$ billion
	2016	2017	2018	2019	2020	2021	2022
At December 31	19	19	18	15	9	7	6

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Within Integrated Gas and Upstream, the assets potentially most sensitive to the energy transition are production assets and exploration and evaluation assets. Both production assets of $117 billion and exploration and evaluation assets of $6 billion are recognised within Property, plant and equipment within Integrated Gas and Upstream.

Portfolio changes

Since 2016, the carrying amount of production assets in Integrated Gas and Upstream decreased from $169 billion as at December 31, 2016, to $117 billion as at December 31, 2022. Over this period, depreciation was higher than additions for each year, and disposals of property, plant and equipment with a carrying amount of some $25 billion occurred. The carrying amount of capitalised exploration and evaluation expenses decreased from $19 billion as at December 31, 2016, to $6 billion at December 31, 2022. This is the result of final investment decisions, reclassifications to production assets and amounts charged to expenses exceeding additions.

Estimated useful life

The energy transition and the pace at which it progresses may impact the remaining life of assets. Integrated Gas and Upstream assets are generally depreciated using a unit-of-production methodology where depreciation generally depends on production of SEC proved reserves (see Note 2). Based on production plans of existing assets, some 35%, 5% and 0% of SEC proved reserves as at December 31, 2022, would currently be left by 2030,2040 and 2050, respectively. Based on the unit-of-production depreciation methodology applied, carrying amounts for individual assets are depreciated to nil in the same pattern as the depletion of reserves towards nil. An analysis of Integrated Gas and Upstream production assets of $117 billion as at December 31, 2022, based on planned reserves depletion shows that these assets would be significantly further depreciated under the unit-of-production method by 2030 and fully depreciated by 2050. This provides a further perspective on the risk of stranded assets carried in the Consolidated Balance Sheet as at December 31, 2022.

Price sensitivities using climate price lines

As noted, in accordance with IFRS, Shell’s financial statements are based on reasonable and supportable assumptions that represent management’s current best estimate of the range of economic conditions that may exist in the foreseeable future. The mid-price outlook informed by Shell’s scenario planning represents management’s best estimate. A change of -10% or +10% to the mid-price outlook, as an average percentage over the whole life cycle of assets, would result in around $2-5 billion (2021: $12-15 billion) impairment or of some $2-4 billion
(2021: $6-9 billion) impairment reversal respectively in Integrated Gas and Upstream (see Note 12). Compared with prior year the impact
of a 10% change in commodity prices is significantly lower as a result of the higher short- and medium-term commodity prices that both
resulted in impairment reversals in 2022 and higher headroom in impairment testing.

The energy transition will continue to bring volatility and there is significant uncertainty as to how commodity prices will develop over the next decades. Some price lines see a structurally lower price during the transition period, while other price lines see structurally higher commodity prices as a result of changes in both supply and demand. As the risk of stranded assets is prevalent with downside price risk in energy transition scenarios, sensitivities have only been undertaken for such downside scenarios. If different price outlooks from external and often normative climate change scenarios were used, this would impact the recoverability of certain assets recognised in the Consolidated Balance Sheet as at December 31, 2022. These external scenarios are not representative of management’s mid-price reasonable best estimate.

Sensitivity of carrying amounts to commodity prices described below is under the assumption that all other factors in the models used, such as cost levels, volumes, mid-price CO2 assumptions and the discount rate, to calculate recoverability of carrying amounts remain unchanged. Sensitivity testing has been performed by applying the alternative commodity price scenarios to cash flows for the whole period until the end of life of the assets tested. The alternative commodity prices were applied in the local cash flow models and thereafter aggregated by segment. Changes to commodity prices are applied because of the significant impact on Shell’s business. It should be noted that a significant decrease in long-term forecasted commodity prices would probably lead to further changes, such as in portfolio choices and cost levels.

Sensitivity to changes in commodity prices has been tested as follows:

Priceline 1 – Average prices from three [A] 1.5-2 degrees Celsius external climate change scenarios: in view of the broad range of price outlooks across the various scenarios, the average of three external price outlooks was taken.

[A]The IEA SDS scenario applied in 2021 is no longer published and has therefore been taken out for 2022.

▪IHS Markit/ACCS 2022 – under this scenario oil prices (real terms 2022 (RT22)) gradually decrease towards $36.5 per barrel (/b) in 2039, recovering to $94.3/b in 2050. Gas prices (RT22) decrease from $3.7 per million British thermal units (/MMBtu) in 2023 towards 2024 to slightly below $3/MMBtu for Henry Hub, remaining around that level until 2050. For Europe, prices decrease from $35/MMbtu in 2023 towards around $4/MMBtu in 2029, remaining around that level until 2040 and then gradually increasing to a level around $5/MMBtu in 2050. For Asia, prices decrease towards around $5/MMBtu in 2029, again gradually increasing from 2045 to a level around $6/MMBtu
in2050.

▪Woodmac WM AET-1.5 degree – under this scenario oil prices (RT22) gradually decrease towards $27/b in 2050. Gas prices (RT22) decrease from around $5/MMBtu in 2023 to $3/MMBtu in 2024, gradually increasing to some $4/MMBtu in 2045 and again decreasing
to some $3/MMBtu in 2050 for Henry Hub. For Asia and Europe, gas prices (RT22) decrease from around $30/MMBtu in 2023 to some$6/MMBtu and $5/MMBtu respectively in 2031, gradually increasing again to some $10/MMBtu and some $8/MMbtu respectively around 2040 and subsequently decreasing to $6/MMBtu and some $5/MMBtu respectively in 2050.

▪IEA NZE50 – under this scenario oil prices (RT22) gradually decrease towards some $25/b in 2050. Gas prices (RT22) decrease from some$3.5/MMBtu in 2023 to around $2/MMBtu for Henry Hub in 2030, remaining slightly below that level until 2050. For Asia and Europe, gas prices (RT22) decrease from some $10/MMBtu and $9/MMBtu respectively in 2023 to some $6/MMBtu and $5/MMBtu respectively around 2030, with a decrease towards some $5/MMBtu and $4/MMBtu respectively in 2050.

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This average priceline provides an external view of the development of commodity prices under 1.5-2 degrees Celsius external climate change scenarios over the whole period under review.

Applying this priceline to Integrated Gas assets of $75 billion (2021: $65 billion [A])) and Upstream assets of $88 billion (2021: $89 billion [A]) as at December 31, 2022, shows recoverable amounts that are $4-6 billion (2021: $13-16 billion) and $1-2 billion (2021: $14-17 billion) lower, respectively, than the carrying amounts as at December 31, 2022.

[A]In 2022 goodwill and other intangibles were included in the scope for sensitivity testing. In 2021 these assets were not within the scope of sensitivity testing. Based on the 2022 sensitivity testing performed, it is unlikely that if these assets would have been included in the scope for 2021 testing, this would have resulted in a material impact on the outcome of sensitivity testing.

Priceline–2 - Hybrid Shell Plan and IEA NZE50: this priceline applies Shell’s mid-price outlook for the next 10 years (see Note 12). Because of the greater uncertainty, the International Energy Agency (IEA) normative Net Zero Emissions scenario for the period after 10years is applied. This weights less price-risk uncertainty to the first 10 reflected in the Operating Plan period and applies more risk to the more uncertain subsequent periods.

Applying this priceline to Integrated Gas assets of $75 billion (2021: $65 billion) and Upstream assets of $88 billion (2021: $89 billion) as atDecember 31, 2022, shows recoverable amounts that are $4-6 billion (2021: $10-12 billion) and $1-2 billion (2021: $5-6 billion) lower, respectively, than the carrying amounts as at December 31, 2022.

Priceline–3 - IEA NZE50: this priceline applies the IEA normative Net Zero Emissions scenario over the whole period under review. This priceline has been applied for the first time in the current year in order to also reflect the sensitivity to a pure net-zero emissions scenario from the IEA.

Applying this priceline to Integrated Gas assets of $75 billion and Upstream assets of $88 billion as at December 31, 2022, shows recoverable amounts that are $9-12 billion and $8-11 billion lower, respectively, than the carrying amounts as at December 31, 2022.


Oil price assumptions

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[A]The Network for Greening the Financial System (NGFS) is a group of 65 central banks and supervisors and 83 observers committed to sharing best practices, contributing to the development of climate– and environment–related risk management in the financial sector and mobilising mainstream finance to support the transition toward a sustainable economy. This scenario results from the NGFS GCAM model. This model embodies certain assumptions on the relationships between economic and energy output and climate interactions. This NGFS scenario shows a decline in world oil demand relative to the current policies baseline, in part a response to substitution away from fossil fuels. At the same time prices increase due to supply constraints.

[B]All figures are presented on RT22 basis unless noted differently.

The graph above shows the oil pricelines on a real-terms basis applied for the period until 2050 for Shell’s mid-price outlook in comparison with the IEA announced pledges (IEA APS) scenario, the NGFS GCAM NZE 2050 scenario, the average prices from three 1.5-2 degrees Celsius external climate change scenarios (Priceline 1, above) and the IEA Net Zero Emissions by 2050 scenario (IEA NZE50, Priceline 3 above). The development of future oil prices is uncertain and oil prices have been subject to significant volatility in the past. Future oil prices may be impacted by future changes in macroeconomic factors, available supply, demand, geopolitical and other factors. The pricelines as per the scenarios NGFS GCAM NZE 2050, IEA APS, the average prices from three 1.5-2 degrees Celsius external climate change scenarios and IEA NZE50 differ from Shell’s best estimate and view of the future oil price.

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						RT22 $/b
	2023	2025	2030	2035	2040	2050
Shell mid-price	77.8	65.5	65	65	65	65
Average prices from four 1.5-2 degrees Celsius external climate change scenarios	92.8	75.8	52.7	39.1	37.6	49
IEA NZE50	65.3	57.3	37.2	34.3	31.3	25.5
NGFS GCAM NZE 2050	72.1	73.7	75.5	79.2	81.2	109.8
IEA APS	72.1	71	68	67	65.9	63.8


Sensitivity + 10% to the mid-price outlook


			$ billion
	Carrying amount		Sensitivity
	Dec 31, 2022	Dec 31, 2021 [A]	2022		2021
Integrated Gas	75	65	2	3	3	5
Upstream	88	89	—	1	3	4
Total	163	154	2	4	6	9


Sensitivity averaged from three below-two-degrees-Celsius external climate scenarios


			$ billion
	Carrying amount		Sensitivity
	Dec 31, 2022	Dec 31, 2021 [A]	2022		2021
Integrated Gas	75	65	(4)	(6)	(13)	(16)
Upstream	88	89	(1)	(2)	(14)	(17)
Total	163	154	(5)	(8)	(27)	(33)


Sensitivity IEA NZE50


		$ billion
	Carrying amount	Sensitivity
	Dec 31, 2022	2022
Integrated Gas	75	(9)	(12)
Upstream	88	(8)	(11)
Total	163	(17)	(23)


Sensitivity - 10% to the mid-price outlook


			$ billion
	Carrying amount		Sensitivity
	Dec 31, 2022	Dec 31, 2021 [A]	2022		2021
Integrated Gas	75	65	(2)	(4)	(8)	(10)
Upstream	88	89	—	(1)	(4)	(5)
Total	163	154	(2)	(5)	(12)	(15)


Sensitivity Hybrid Shell Plan + IEA NZE50


			$ billion
	Carrying amount		Sensitivity
	Dec 31, 2022	Dec 31, 2021 [A]	2022		2021
Integrated Gas	75	65	(4)	(6)	(10)	(12)
Upstream	88	89	(1)	(2)	(5)	(6)
Total	163	154	(5)	(8)	(15)	(18)

Carbon price sensitivities

Carbon costs in the Operating Plan

The Operating Plan includes capital expenditure and operating costs to achieve Scope 1 and 2 emission reduction targets (see above). These include asset level abatement project costs that drive efficiencies and reduce emissions, expected costs for evolving carbon regulations based on a forecast of Shell’s equity share of emissions and costs of offsets for any residual amounts.

The total capital expenditure for abatement projects in relation to efficiency improvements, energy and chemicals parks transformations and use of renewable power included in the Operating Plan are in excess of $4 billion. Total yearly carbon emission costs in Shell’s Operating Plan gradually increase from some $0.8 billion in 2023 to some $1.5 billion in 2032 using the mid-price scenario. The sensitivity of carrying values of assets to changes in carbon prices is described in the section below.

Methods for estimating costs vary depending on the nature of the cost. Abatement projects costs to improve efficiencies and reduce emissions are estimated by applying a bottom-up approach where individual opportunities on an asset-level, project-by-project basis are identified.

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Costs for evolving carbon regulations are based on a forecast of Shell’s equity share of emissions and are included in the Operating Plan at Shell’s
mid-price outlook on a country-by-country basis and represent management’s best estimate. In the short and near term, up to 2030, costs for carbon emissions estimates are largely policy driven, through emission trading schemes or taxation levied by governments which currently vary significantly on a country-by-country basis. Beyond 2030 where policy predictions are more challenging, the costs for carbon emissions are estimated based on the expected costs of abatement technologies required for 2050. The costs are estimated to be at $125 per tonne (RT22) under Shell’s mid-price scenario. Under Shell's high-price scenario, the costs are set at $220 per tonne (RT22), the top of the bioenergy with CCS cost range and the lower end of the direct air capture cost range.

Sensitivity to changes in carbon price assumptions

There is significant uncertainty as to how carbon costs will develop over the next decades. These will depend on policies set by countries and the pace of the energy transition. In accordance with IFRS, Shell’s financial statements are based on reasonable and supportable assumptions that represent management’s current best estimate which is policy based up to 2030 and then the mid-price outlook beyond 2030. As the risk of stranded assets is prevalent with higher carbon emission prices than anticipated, sensitivity analyses have only been undertaken for such a downside scenario. If the IEA NZE 2050 outlook is applied, this would impact the recoverability of certain assets recognised in the Consolidated Balance Sheet as at December 31, 2022. This scenario is not representative of management's mid-price reasonable best estimate.

Sensitivity of carrying amounts to carbon emission costs as described below is under the assumption that all other factors in the models used to calculate recoverability of carrying amounts remain unchanged. Changes to carbon emission costs are applied for Integrated Gas and Upstream because of the potential impact on Shell’s business.

Applying the IEA NZE 2050 carbon price scenario to Integrated Gas assets of $75 billion and Upstream assets of $88 billion,up to the end of life of these assets, shows recoverable amounts that are $2-5 billion and not significantly lower for Upstream than the carrying amounts as at December 31, 2022.


Sensitivity IEA NZE 2050 carbon price scenario


			$ billion
	Carrying amount	Sensitivity
Integrated Gas	75	(2)	(5)
Upstream	88	—	—
Total	163	(2)	(5)

Application of the IEA NZE 2050 carbon price scenario had no significant impact on the carrying value of Upstream assets due to the existing headroom over the carrying value.

For the key regions and countries the following carbon prices per tonne (RT22) have been assumed in the Operating Plan:


	Operating plan period		Subsequent period
Region	2023-2029	2030-2032	2033-2050
European Union	$71-$121	$84-$88	$90-$125
Canada (Federal)	$40-$50	$54-$61	$65-$125
United States (Federal)	$0-$22	$27-$37	$42-$125
Australia	$25-$35	$36-$45	$50-$125
All other countries	$0-$37	$0-$49	$19-$125

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The graph below shows the carbon pricelines per tonne for the European Union on an RT22 basis under Shell’s mid-price outlook in comparison with the IEA NZE 2050 scenario. The IEA NZE 2050 scenario differs from Shell’s best estimate and view of the future CO2 prices. Sensitivity of carrying amounts to the IEA NZE 2050 carbon price scenario is provided above.


CO2 prices - European Union RT22 $/tonne

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					RT22 $/tonne
	2023	2025	2030	2035	2040	2050
Shell mid-price	121	73	84	94	104	125

IEA NZE50	97	112	149	177	205	266

Carrying value of Chemicals and Products assets


Carrying value of Chemicals and Products assets $ billion as at December 31

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Carrying value of refineries $ billion as at December 31

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[A]In 2017 two refineries were acquired following dissolution of the Motiva joint venture in the USA.

[B]Includes refineries held for sale ($1.5 billion).


Carrying amount of Chemicals and Production assets


							$ billion
	2016	2017	2018	2019	2020	2021	2022
Chemicals	15	16	18	22	25	27	28
Refineries	10	14	14	13	7	6	6
Other	1	8	7	12	11	11	11
Total at December 31	26	38	39	47	43	44	45

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Carrying amount of refineries


							$ billion
	2016	2017	2018	2019	2020	2021	2022
At December 31	10	14	14	13	7	6	6
Assets classified as held for sale						1
Total at December 31	10	14	14	13	7	7	6

Within Chemicals and Products, the assets potentially most sensitive to the energy transition are refineries.

Portfolio changes

Since 2016, Shell’s Chemicals and Products portfolio has evolved, shifting from 15 refineries at the end of 2016 towards five energy and chemicals parks. During that period Shell assumed the sole ownership of two refineries through the dissolution of the Motiva joint venture, and disposed of, converted or closed nine refineries. The carrying amount of refineries decreased from $10 billion as at December 31, 2016, to $6 billion as at December 31, 2022. In line with Shell’s strategy, Shell’s refining footprint is being transformed into five energy and chemicals parks that will provide feedstocks for the chemicals and lubricants business, as well as other low-carbon energy products, including biofuels and hydrogen. This transformation will involve investments in assets within these energy parks that will be recognised as separate cash-generating units and are expected to be resilient in the energy transition, and hence their carrying amounts may increase.

Estimated useful life

Refineries in the Chemicals and Products segment (carrying amount as at December 31, 2022, $6 billion (2021: $6 billion) of which $5 billion (2021: $5 billion) relates to refineries in the five energy and chemicals parks 2021: excluding refineries classified as held for sale)) may be impacted under a two-degrees-Celsius or less external climate scenario.

For refineries in Chemicals and Products, depreciation of assets is on a straight-line basis over the life of the assets, starting at the date the asset becomes available for use, over a period of 20 years (see Note 2). Over the course of the energy transition, the current carrying amount of refineries will be fully depreciated, offset by anticipated investments in assets that are expected to be resilient in the energy transition as described above. Based on current depreciation of the carrying amounts as at December 31, 2022, and assuming no further investment, all refineries would be fully depreciated between four and 14 years.

In addition to refineries, further assets of $39 billion include $28 billion of assets in relation to Chemicals which are expected to be resilient through the energy transition as chemical products are not produced with the aim to combust and consequently do not generate GHG emissions.

Other assets of $11 billion includes $7 billion of assets in relation to trading and supply are also expected to be resilient in the energy transition. Another $1.6 billion of assets relates to oil sands. Based on production plans for oil sands assets, some 80%, 56% and 31% of SEC proved reserves as at December 31, 2022, would currently be left by 2030, 2040 and 2050, respectively. Taking into consideration the carrying amount as at December 31, 2022 and depreciation under the unit-of-production methodology, this provides a further perspective on the risk of stranded oil sands assets carried in the Consolidated Balance Sheet as at December 31, 2022.

Price sensitivities

Refining margins included in the Operating Plan are at an average of $6.22. A change of -$1/bbl or +$1/bbl to the refining margin outlook period would result in around $1-3 billion impairment or in some $1-3 billion impairment reversal respectively in Chemicals and Products (see Note 12).

Carrying value of Marketing assets


Carrying value of Marketing assets $ billion as at December 31

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Carrying amount of Marketing assets


						$ billion
	2017	2018	2019	2020	2021	2022
At December 31	15	15	20	23	25	29

Portfolio changes

Assets in the Marketing segment are expected to be resilient through the energy transition with a change in the product mix as the energy transition progresses. The demand for products sold such as chemicals, lubricants, biofuels, bitumen, electric vehicle charging and convenience retail is not expected to decrease and is expected to increase for a variety of these products in many markets. As a result the carrying value of these assets is not expected to be impacted by the energy transition or lower commodity price scenarios.

Carrying value of Renewables and Energy Solutions assets


Carrying value of Renewables and Energy Solutions assets $ billion as at December 31

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Carrying amount of Renewables and Energy Solutions assets


						$ billion
	2017	2018	2019	2020	2021	2022
At December 31	1	1	3	3	5	9

Portfolio changes

Assets in the Renewables and Energy Solutions segment are expected to be resilient through the energy transition.

Discount rate sensitivity

The discount rate applied for impairment testing is based on a nominal post-tax weighted average cost of capital (WACC) and is determined at 5% for Power activities and 6.5% for all other businesses. The discount rate includes generic system risk for climate change risk. In addition, cash flow projections applied in individual assets include specific asset risks, including risk of transition. An increase in systematic climate risk could lead to a higher WACC and consequently to a higher discount rate to be applied in impairment testing. An increase of the discount rate applied for impairment testing of 1% under the assumption that all other factors in the models used to calculate recoverability of carrying amounts remain unchanged would lead to a change in the carrying amount of $1-3 billion for Integrated Gas, and up to $1 billion in each of the following segments: Upstream, Chemicals and Products and Renewables and Energy Solutions, and no significant impairment in Marketing and Corporate.

Global oil and gas demand sensitivities

A decrease in global demand and unchanged supply of oil and gas would likely lead to a decrease in price (see price sensitivity above). During 2022 Shell’s production of oil and gas accounted for 1.5% and 2% of total global production of oil and gas respectively. Changes in global oil and gas demand are therefore not expected to directly impact the ability to sell volumes of oil and gas produced by Shell at market prices.

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Deferred tax assets

In general, it is expected that sufficient deferred tax liabilities and forecasted taxable profits within the planning period of 10 years are available for recovery of the deferred tax assets recognised at December 31, 2022. Integrated Gas and Upstream deferred tax assets recognised are expected to be recovered within the period of production of each asset. For deferred tax assets of $303 million as at December 31, 2022 (2021: $711 million) this period extends beyond 10 years. Deferred tax assets in Chemicals and Products and in Marketing expected to be recovered in more than 10 years are $382 million as at December 31, 2022 (2021: $854 million). In Chemicals and Products, cash flows beyond 10 years (for a maximum of an additional 10 years) were further risked to determine recoverability of deferred tax assets beyond 10 years (see Note 22).

Decommissioning and other provisions

The energy transition may result in decommissioning and restoration occurring earlier than expected. The risk on the timing of decommissioning and restoration activities for Integrated Gas and Upstream fields is limited, supported by production plans in the foreseeable future (see "Estimated useful life" above). Acceleration of decommissioning and restoration activities has also been reflected in the assessment of the appropriate discount rate. In 2021, the discount rate was revised from a 30-year to a 20-year term in line with the average remaining life of Integrated Gas and Upstream assets. On an undiscounted basis the provision for decommissioning and restoration as at December 31, 2022 was$33 billion,recognised on a discounted basis in the Consolidated Balance Sheet as at December 31, 2022 at $20 billion (2021: $22 billion). Sensitivity to changes in the discount rate is provided in Note 24.

In Chemicals and Products, it was industry practice not to recognise decommissioning and restoration provisions associated with manufacturing facilities. This was on the basis that these assets were considered to have indefinite lives, so it was considered remote that an outflow of economic benefits would be required. In 2020, Shell considered the changed macroeconomic fundamentals, together with Shell’s plans to rationalise the Group’s manufacturing portfolio. Shell also reconsidered whether it remained appropriate not to recognise decommissioning and restoration provisions for manufacturing facilities. Since 2020, decommissioning and restoration provisions are recognised for certain shorter-lived manufacturing facilities (see Notes 24 and 31). The remaining five energy and chemicals parks are considered longer-lived facilities that are expected to be resilient in the energy transition, and decommissioning would generally be more than 50 years away.

Onerous contracts

Closure or early termination of activities may lead to supply contracts becoming onerous. Onerous contract provisions (see Note 24) have been recognised as at December 31, 2022, to reflect changes in expected future utilisation of certain assets. These include contracts in relation to unused terminals and refineries. The total carrying amount of the provision for onerous contracts as at December 31, 2022 was $1.5 billion (2021:$1.7 billion) principally related to contracts in relation to unused terminals and refineries.

Dividend resilience

External stakeholders have requested disclosures on how climate change affects dividend-paying capacity. If a further impairment had been recognised in 2022 using any of the climate change scenarios described above, this would not have impacted the ability to pay dividends in this financial year because of the strong cash flow generation and financial reserves. Had Shell applied the IEA NZE50 scenario (see above), and if this had led to a decrease in the recoverable amount of Integrated Gas and Upstream assets of $17-23 billionand recognition of an equivalent impairment, this would not have impacted the distributable reserves available to Shell from which to pay dividends in 2022. This is on the basis that such impairment would have resulted in part-realisation of the merger reserve recognised by the Company of $234 billion
as at December 31, 2022.

A forward-looking statement regarding future dividend-paying capacity cannot be provided because of unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements.

Physical risks

Potential physical impacts to Shell's assets, irrespective of cause, are important for Shell to manage.

Climate variability is considered in the design and operation of Shell's assets and infrastructure to minimise the risk of adverse incidents to Shell's employees and contractors, the communities where Shell operates, its equipment and infrastructure. Shell's new projects consider anticipated weather and climatic events in their design and Metocean (meteorology and oceanography) engineering experts are available, if required, to assist Shell's assets and project teams in the evaluation of physical risks.

On an ongoing basis, Shell's assets leverage broad risk and threat management processes to identify and respond to emerging challenges to their ongoing safe, compliant and efficient operation, as required by Shell's HSSE & SP Control Framework.

Inventories - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Inventories - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Subclassifications of assets, liabilities and equities [abstract]
Inventory write-downs	$ 2,705	$ 592

CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Statement of cash flows [abstract]

Income/(loss) before taxation for the period

$ 64,815

$ 29,829

$ (26,967)

Adjustment for:

Interest expense (net)

2,135

3,096

3,316

Depreciation, depletion and amortisation

18,529

26,921

52,444

Exploration well write-offs

881

639

815

Net gains on sale and revaluation of non-current assets and businesses

(642)

(5,995)

(286)

Share of profit of joint ventures and associates

(3,972)

(4,097)

(1,783)

Dividends received from joint ventures and associates

4,398

3,929

2,591

(Increase)/decrease in inventories

(8,360)

(7,319)

4,477

(Increase)/decrease in current receivables

(8,989)

(20,567)

9,625

Increase/(decrease) in current payables

11,915

17,519

(9,494)

(2,619)

5,882

977

Decommissioning and other provisions

417

568

(76)

1,104

Other

2,991

803

Tax paid

(13,120)

(5,476)

(3,290)

Cash flow from operating activities

68,414

45,104

34,105

Capital expenditure

(22,600)

(19,000)

(16,585)

Investments in joint ventures and associates

(1,973)

(479)

(1,024)

Investment in equity securities

(260)

(218)

Proceeds from sale of property, plant and equipment and businesses

1,431

14,233

2,489

Proceeds from joint ventures and associates from sale, capital reduction and repayment of long-term loans

511

584

1,240

Proceeds from sale of equity securities

117

296

281

Interest received

906

423

532

Other investing cash inflows

2,060

2,928

3,239

Other investing cash outflows

(2,640)

(3,528)

(3,232)

Cash flow from investing activities

(22,448)

(4,761)

(13,278)

Net increase/(decrease) in debt with maturity period within three months

318

(63)

Other debt:

New borrowings

269

1,791

23,033

Repayments

(8,459)

(21,534)

(17,385)

Interest paid

(3,677)

(4,014)

(4,105)

Change in non-controlling interest

(1,799)

(1,165)

1,157

(1,965)

(42)

Cash dividends paid to:

Shell plc shareholders

^[1]

(7,405)

(6,253)

(7,424)

Non-controlling interest

(206)

(348)

(311)

Shares held in trust: net purchases and dividends received

(18,437)

(2,889)

(1,702)

(593)

(285)

(382)

Cash flow from financing activities

(41,954)

(34,664)

(7,224)

Effects of exchange rate changes on cash and cash equivalents

(736)

(539)

172

Increase in cash and cash equivalents

3,276

5,140

13,775

Cash and cash equivalents at beginning of year

36,970

31,830

18,055

Cash and cash equivalents at end of year

$ 40,246

$ 36,970

$ 31,830

[1]	Cash dividends paid represents the payment of net dividends (after deduction of withholding taxes where applicable) and payment of withholding taxes on dividends paid in the previous quarter.

Earnings per share

12 Months Ended

Dec. 31, 2022

Earnings per share [abstract]

Earnings Per Share

Earnings per share


	2022	2021	2020
Income/(loss) attributable to Shell plc shareholders ($ million)	42,309	20,101	(21,680)

Weighted average number of shares used as the basis for determining:
Basic earnings per share (million of shares)	7,347.5	7,761.7	7,795.6
Diluted earnings per share (million of shares)	7,410.5	7,806.8	7,795.6

Basic earnings per share are calculated by dividing the income attributable to Shell plc shareholders for the year by the weighted average number of shares outstanding during the year. The weighted average number of shares outstanding excludes shares held in trust.

Diluted earnings per share are based on the same income figures. The weighted average number of shares outstanding during the year is increased by dilutive shares related to share-based compensation plans. If the inclusion of potentially issuable shares could decrease diluted loss per share, the potentially issuable shares are excluded from the weighted average number of shares outstanding used to calculate diluted earnings per share.

CONSOLIDATED STATEMENT OF INCOME - USD ($) $ in Millions	12 Months Ended
CONSOLIDATED STATEMENT OF INCOME - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Profit or loss [abstract]
Revenue	$ 381,314	$ 261,504	$ 180,543
Share of profit of joint ventures and associates	3,972	4,097	1,783
Interest and other income	915	7,056	869
Total revenue and other income	386,201	272,657	183,195
Purchases	258,488	174,912	117,093
Production and manufacturing expenses	25,518	23,822	24,001
Selling, distribution and administrative expenses	12,883	11,328	9,881
Research and development	1,075	815	907
Exploration	1,712	1,423	1,747
Depreciation, depletion and amortisation	18,529	26,921	52,444
Interest expense	3,181	3,607	4,089
Total expenditure	321,386	242,828	210,162
Income/(loss) before taxation	64,815	29,829	(26,967)
Taxation charge/(credit)	21,941	9,199	(5,433)
Income/(loss) for the period	42,874	20,630	(21,534)
Income attributable to non-controlling interest	565	529	146
Income/(loss) attributable to Shell plc shareholders	$ 42,309	$ 20,101	$ (21,680)
Basic earnings per share ($ per share)	$ 5.76	$ 2.59	$ (2.78)
Diluted earnings per share ($ per share)	$ 5.71	$ 2.57	$ (2.78)

Financial instruments - Schedule of Trade and Other Receivables, Other Payables and Derivative Financial Instruments (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Within trade payables
Disclosure of offsetting of financial assets [line items]
Gross amounts before offset	$ 29,981	$ 19,347
Amounts offset	17,200	11,935
Net amounts as presented	12,781	7,412
Cash collateral received/pledged	608	61
Other offsetting instruments	495	283
Net amounts	11,678	7,068
Within derivative financial instruments
Disclosure of offsetting of financial assets [line items]
Gross amounts before offset	58,991	54,534
Amounts offset	34,710	40,350
Net amounts as presented	24,281	14,184
Cash collateral received/pledged	4,788	697
Other offsetting instruments	3,364	3,109
Net amounts	16,129	10,378
Within trade receivables
Disclosure of offsetting of financial assets [line items]
Gross amounts before offset	28,259	20,561
Amounts offset	17,200	11,937
Net amounts as presented	11,059	8,624
Cash collateral received/pledged	292	164
Other offsetting instruments	495	283
Net amounts	10,272	8,177
Within derivative financial instruments
Disclosure of offsetting of financial assets [line items]
Gross amounts before offset	56,154	48,813
Amounts offset	34,685	39,819
Net amounts as presented	21,469	8,994
Cash collateral received/pledged	1,904	902
Other offsetting instruments	4,563	3,098
Net amounts	$ 15,002	$ 4,994

Property, plant and equipment - Commodity Price Assumptions Applied in Impairment Testing (Details)	12 Months Ended
	Dec. 31, 2022 $ / bbl $ / MMBTU	Dec. 31, 2021 $ / bbl $ / MMBTU
Brent crude oil ($/b)
Explanation Of Inputs Assumptions And Estimation Techniques Used To Apply Impairment Requirements Explanatory [Line Items]
2023 \| $ / bbl	80	60
2024 \| $ / bbl	70	60
2025 \| $ / bbl	70	60
2026 \| $ / bbl	71	63
Henry Hub natural gas ($/MMBtu)
Explanation Of Inputs Assumptions And Estimation Techniques Used To Apply Impairment Requirements Explanatory [Line Items]
2023 \| $ / MMBTU	4.00	2.75
2024 \| $ / MMBTU	3.50	2.75
2025 \| $ / MMBTU	3.50	2.75
2026 \| $ / MMBTU	3.98	3.00

Inventories - Summary of Detailed Information of Inventories (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Subclassifications of assets, liabilities and equities [abstract]
Oil, gas and chemicals	$ 27,823	$ 22,145
Environmental certificates	2,557	1,727
Materials	1,514	1,386
Total	$ 31,894	$ 25,258

Other reserves - Summary of Accumulated Other Comprehensive Income Attributable to Royal Dutch Shell plc Shareholders (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance		$ (25,735)
Reclassified to income		417
Share of joint ventures and associates	$ 21	(106)	$ 77
Other comprehensive income/(loss) for the period	2,080	6,073	(1,842)
Less: non-controlling interest	621	468	136
Ending balance			(25,735)
Total
Disclosure Of Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	(19,646)	(25,735)	(24,173)
Recognised in other comprehensive income	3,616	8,745	(2,567)
Reclassified to income	(106)		(115)
Reclassified to the balance sheet	(81)	(13)	16
Reclassified to retained earnings	(34)	(45)	270
Tax on amounts recognised/reclassified	(1,370)	(2,970)	747
Total, net of tax	2,025	6,134	(1,649)
Share of joint ventures and associates	21	(106)	77
Other comprehensive income/(loss) for the period	2,046	6,028	(1,572)
Less: non-controlling interest	(56)	61	10
Attributable to Shell plc shareholders	1,990	6,089	(1,562)
Ending balance	(17,656)	(19,646)	(25,735)
Currency translation differences
Disclosure Of Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	(9,563)	(8,175)	(9,415)
Recognised in other comprehensive income	(3,422)	(1,841)	1,204
Reclassified to income	437	368	(28)
Tax on amounts recognised/reclassified	(1)	60	3
Total, net of tax	(2,986)	(1,413)	1,179
Share of joint ventures and associates	30	(36)	51
Other comprehensive income/(loss) for the period	(2,956)	(1,449)	1,230
Less: non-controlling interest	(71)	61	10
Attributable to Shell plc shareholders	(3,027)	(1,388)	1,240
Ending balance	(12,590)	(9,563)	(8,175)
Equity instruments remeasurements
Disclosure Of Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	1,294	1,144	793
Recognised in other comprehensive income	(524)	180	68
Reclassified to retained earnings	(32)	(45)	169
Tax on amounts recognised/reclassified	33	(35)	(4)
Total, net of tax	(523)	100	233
Share of joint ventures and associates	(283)	50	118
Other comprehensive income/(loss) for the period	(806)	150	351
Less: non-controlling interest	(1)
Attributable to Shell plc shareholders	(807)	150	351
Ending balance	487	1,294	1,144
Debt instruments remeasurements
Disclosure Of Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	3	31	8
Recognised in other comprehensive income	(90)	(23)	31
Reclassified to income	12	(5)	(8)
Total, net of tax	(78)	(28)	23
Other comprehensive income/(loss) for the period	(78)	(28)	23
Attributable to Shell plc shareholders	(78)	(28)	23
Ending balance	(75)	3	31
Cash flow hedging (losses)/gains
Disclosure Of Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	(536)	(485)	(233)
Recognised in other comprehensive income	426	88	(9)
Reclassified to income	(636)	(38)	(173)
Reclassified to the balance sheet	(81)	(13)	16
Tax on amounts recognised/reclassified	59	(16)	6
Total, net of tax	(232)	21	(160)
Share of joint ventures and associates	244	(72)	(92)
Other comprehensive income/(loss) for the period	12	(51)	(252)
Attributable to Shell plc shareholders	12	(51)	(252)
Ending balance	(524)	(536)	(485)
Net investment hedging (losses)/gains
Disclosure Of Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	(2,144)	(2,439)	(2,016)
Recognised in other comprehensive income	180	295	(423)
Total, net of tax	180	295	(423)
Other comprehensive income/(loss) for the period	180	295	(423)
Attributable to Shell plc shareholders	180	295	(423)
Ending balance	(1,964)	(2,144)	(2,439)
Deferred cost of hedging
Disclosure Of Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	(226)	(187)	(287)
Recognised in other comprehensive income	64	(145)	17
Reclassified to income	81	92	94
Tax on amounts recognised/reclassified	55	14	(11)
Total, net of tax	200	(39)	100
Other comprehensive income/(loss) for the period	200	(39)	100
Attributable to Shell plc shareholders	200	(39)	100
Ending balance	(26)	(226)	(187)
Retirement benefits remeasurements
Disclosure Of Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	(8,474)	(15,624)	(13,023)
Recognised in other comprehensive income	6,982	10,191	(3,455)
Reclassified to retained earnings	(2)		101
Tax on amounts recognised/reclassified	(1,516)	(2,993)	753
Total, net of tax	5,464	7,198	(2,601)
Share of joint ventures and associates	30	(48)
Other comprehensive income/(loss) for the period	5,494	7,150	(2,601)
Less: non-controlling interest	16
Attributable to Shell plc shareholders	5,510	7,150	(2,601)
Ending balance	$ (2,964)	$ (8,474)	$ (15,624)

Investments in securities

12 Months Ended

Dec. 31, 2022

Fair Value Measurement [Abstract]

Investments in Securities

Investments in securities


Investments in securities


	$ million
	Dec 31, 2022	Dec 31, 2021
Equity securities:	1,533	1,710
Equity securities at fair value through other comprehensive income	1,533	1,710
Debt securities:	1,829	2,087
Debt securities at amortised cost	21	4
Debt securities at fair value through other comprehensive income	1,308	1,306
Debt securities at fair value through profit or loss	500	777
Total	3,362	3,797
At fair value
Measured by reference to prices in active markets for identical assets	1,884	1,909
Measured by reference to other observable inputs	158	177
Measured using predominantly unobservable inputs	1,299	1,707
Total	3,341	3,793
At cost	21	4
Total	3,362	3,797

As at December 31, 2022, 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.


Investments in securities measured using predominantly unobservable inputs [A]


	$ million
	2022	2021
At January 1	1,707	1,505
(Losses)/gains recognised in other comprehensive income	(206)	44
Purchases	142	299
Sales	(37)	(17)
Other movements	(307)	(124)
At December 31	1,299	1,707

[A]Based on expected dividend flows, adjusted for country and other risks as appropriate and discounted to their present value.

"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.

Auditor's remuneration

12 Months Ended

Dec. 31, 2022

Summary of Intangible Assets and Goodwill

Auditor's Remuneration

Auditor’s remuneration


	$ million
	2022	2021	2020
Fees in respect of the audit of the Consolidated and Parent Company Financial Statements, including audit of consolidation returns	45	39	36
Other audit fees, principally in respect of audits of accounts of subsidiaries	18	18	17
Total audit fees	63	57	53
Audit-related fees	3	3	3
Fees in respect of other non-audit services	3	3	2
Total	69	63	58

In addition, the auditor provided audit services to retirement benefit plans for employees of subsidiaries. Remuneration paid by those benefit plans amounted to $1 million in 2022 (2021: $1 million; 2020: $1 million).

Dividends - Narrative (Details) - Major ordinary share transactions $ / shares in Units, $ in Millions	Feb. 03, 2022 USD ($) $ / shares
Disclosure Of Dividends [Line Items]
Dividend declared per share (in usd per share) \| $ / shares	$ 0.2875
Dividend declared \| $	$ 1,998

Basis of preparation	12 Months Ended
Basis of preparation	Dec. 31, 2022
Disclosure Of Basis Of Preparation Of Financial Statements [Abstract]
Basis of Preparation	Basis of preparation The Consolidated Financial Statements of Shell plc (the "Company") and its subsidiaries (collectively referred to as "Shell") have been prepared in accordance with UK-adopted international accounting standards and with the requirements of the UK Companies Act 2006 as applicable to companies reporting under those standards. As applied to Shell, there are no material differences from International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB); therefore, the Consolidated Financial Statements have been prepared in accordance with IFRS as issued by the IASB. As described in the accounting policies in Note 2, the Consolidated Financial Statements have been prepared under the historical cost convention except for certain items measured at fair value. Those accounting policies have been applied consistently in all periods. The Consolidated Financial Statements were approved and authorised for issue by the Board of Directors on March 8, 2023. Going concern These Consolidated Financial Statements have been prepared on the going concern basis of accounting. In assessing the appropriateness of the going concern assumption over the period to March 31, 2024 (the "going concern period"), management have stress-tested Shell’s most recent financial projections to incorporate a range of potential future outcomes by considering Shell’s principal risks, potential downside pressures on commodity prices and cash preservation measures, including reduced future operating costs, capital expenditure and shareholder distributions. Management’s stress test included scenarios and risks covering: unplanned shutdown at a major cash-generating asset; a lower oil and gas price environment; a significant health, safety, security and environment event; and global macro uncertainties. The going concern assessment confirmed that Shell has adequate cash, other liquid resources and undrawn credit facilities to enable it to meet its obligations as they fall due in order to continue its operations during the going concern period. Therefore, the Directors consider it appropriate to continue to adopt the going concern basis of accounting in preparing these Consolidated Financial Statements.

Goodwill and other intangible assets (Tables)

12 Months Ended

Dec. 31, 2022

Intangible Assets [Abstract]


	$ million
		Other intangible assets
	Goodwill	LNG off-take and sales contracts	Environmental certificates	Other		Total
Cost
At January 1	16,117	9,833	2,747	6,679		19,259
Additions	1,954	—	2,338	1,263		3,601
Sales, retirements and other movements [A]	(351)	—	(2,749)	459	[C]	(2,290)
Currency translation differences	(163)	—	(135)	(243)		(378)
At December 31	17,557	9,833	2,201	8,158		20,192
Depreciation, depletion and amortisation, including impairments
At January 1	1,197	5,267		4,219		9,486
Charge for the year [B]	360	793		532		1,325
Sales, retirements and other movements [A]	—	—		(137)		(137)
Currency translation differences	(39)	—		(144)		(144)
At December 31	1,518	6,060		4,470		10,530
Carrying amount at December 31	16,039	3,773	2,201	3,688	[D]	9,662

[A]Includes the reclassification to assets classified as held for sale. (See Note 18).

[B]Includes impairments as presented in Note 12.

[C]Includes the reclassification from goodwill following the completion of a purchase price allocation in Renewables and Energy Solutions.

[D]Includes other intangible assets from acquisitions, power purchase agreements, retail customer relationships, trademarks and $583 million related to software.

11. Goodwill and other intangible assets continued


2021


	$ million
		Other intangible assets
	Goodwill	LNG off-take and sales contracts	Environmental certificates	Other		Total
Cost
At January 1	15,101	10,030	1,013	6,914		17,957
Additions	1,546	—	3,147	527		3,674
Sales, retirements and other movements [A]	(464)	(197)	(1,371)	(607)		(2,175)
Currency translation differences	(66)	—	(42)	(155)		(197)
At December 31	16,117	9,833	2,747	6,679		19,259
Depreciation, depletion and amortisation, including impairments
At January 1	1,062	4,668		4,618		9,286
Charge for the year [B]	167	796		368		1,164
Sales, retirements and other movements [A]	(23)	(197)		(670)		(867)
Currency translation differences	(9)	–		(97)		(97)
At December 31	1,197	5,267		4,219		9,486
Carrying amount at December 31	14,920	4,566	2,747	2,460	[C]	9,773

[A]Includes the reclassification to assets classified as held for sale. (See Note 18).

[B]Includes impairment as presented in Note 12.

[C]Includes $456 million related to software.

Cover Page	12 Months Ended
Cover Page	Dec. 31, 2022 shares
Document Information [Line Items]
Document Type	20-F
Document Registration Statement	false
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Document Shell Company Report	false
Entity File Number	001-32575
Entity Registrant Name	Shell plc
Entity Address, Address Line One	Shell Centre
Entity Address, City or Town	London
Entity Address, Postal Zip Code	SE1 7NA
Entity Incorporation, State or Country Code	X0
Entity Address, Country	GB
Entity Common Stock, Shares Outstanding	6,970,731,057
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Accounting Standard	International Financial Reporting Standards
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Central Index Key	0001306965
Business Contact
Document Information [Line Items]
Entity Address, Address Line One	Shell Centre
Entity Address, City or Town	London
Entity Address, Postal Zip Code	SE1 7NA
Contact Personnel Name	Caroline J.M. Omloo, Company Secretary
Entity Address, Country	GB
City Area Code	0044-20
Local Phone Number	7934-1234
Contact Personnel Email Address	c.omloo@shell.com
American Depository Shares
Document Information [Line Items]
Title of 12(b) Security	American Depositary Shares representing two ordinary sharesof the issuer with a nominal value of €0.07 each
Trading Symbol	SHEL
Security Exchange Name	NYSE
0.375% Guaranteed Notes Due 2023
Document Information [Line Items]
Title of 12(b) Security	0.375% Guaranteed Notes due 2023
Trading Symbol	SHEL/23B
Security Exchange Name	NYSE
3.5% Guaranteed Notes Due 2023
Document Information [Line Items]
Title of 12(b) Security	3.5% Guaranteed Notes due 2023
Trading Symbol	SHEL/23
Security Exchange Name	NYSE
Floating Rate Guaranteed Notes Due 2023
Document Information [Line Items]
Title of 12(b) Security	Floating Rate Guaranteed Notes due 2023
Trading Symbol	SHEL/23A
Security Exchange Name	NYSE
2% Guaranteed Notes Due 2024
Document Information [Line Items]
Title of 12(b) Security	2% Guaranteed Notes due 2024
Trading Symbol	SHEL/24
Security Exchange Name	NYSE
3.25% Guaranteed Notes Due 2025
Document Information [Line Items]
Title of 12(b) Security	3.25% Guaranteed Notes due 2025
Trading Symbol	SHEL/25
Security Exchange Name	NYSE
2.5% Guaranteed Notes Due 2026
Document Information [Line Items]
Title of 12(b) Security	2.5% Guaranteed Notes due 2026
Trading Symbol	SHEL/26
Security Exchange Name	NYSE
2.875% Guaranteed Notes Due 2026
Document Information [Line Items]
Title of 12(b) Security	2.875% Guaranteed Notes due 2026
Trading Symbol	SHEL/26A
Security Exchange Name	NYSE
3.875% Guaranteed Notes Due 2028
Document Information [Line Items]
Title of 12(b) Security	3.875% Guaranteed Notes due 2028
Trading Symbol	SHEL/28
Security Exchange Name	NYSE
2.375% Guaranteed Notes Due 2029
Document Information [Line Items]
Title of 12(b) Security	2.375% Guaranteed Notes due 2029
Trading Symbol	SHEL/29
Security Exchange Name	NYSE
2.75% Guaranteed Notes Due 2030
Document Information [Line Items]
Title of 12(b) Security	2.75% Guaranteed Notes due 2030
Trading Symbol	SHEL/30
Security Exchange Name	NYSE
4.125% Guaranteed Notes Due 2035
Document Information [Line Items]
Title of 12(b) Security	4.125% Guaranteed Notes due 2035
Trading Symbol	SHEL/35
Security Exchange Name	NYSE
6.375% Guaranteed Notes Due 2038
Document Information [Line Items]
Title of 12(b) Security	6.375% Guaranteed Notes due 2038
Trading Symbol	SHEL/38
Security Exchange Name	NYSE
5.5% Guaranteed Notes Due 2040
Document Information [Line Items]
Title of 12(b) Security	5.5% Guaranteed Notes due 2040
Trading Symbol	SHEL/40
Security Exchange Name	NYSE
2.875% Guaranteed Notes Due 2041
Document Information [Line Items]
Title of 12(b) Security	2.875% Guaranteed Notes due 2041
Trading Symbol	SHEL/41
Security Exchange Name	NYSE
3.625% Guaranteed Notes Due 2042
Document Information [Line Items]
Title of 12(b) Security	3.625% Guaranteed Notes due 2042
Trading Symbol	SHEL/42
Security Exchange Name	NYSE
4.55% Guaranteed Notes Due 2043
Document Information [Line Items]
Title of 12(b) Security	4.55% Guaranteed Notes due 2043
Trading Symbol	SHEL/43
Security Exchange Name	NYSE
4.375% Guaranteed Notes due 2045
Document Information [Line Items]
Title of 12(b) Security	4.375% Guaranteed Notes due 2045
Trading Symbol	SHEL/45
Security Exchange Name	NYSE
3.75% Guaranteed Notes Due 2046
Document Information [Line Items]
Title of 12(b) Security	3.75% Guaranteed Notes due 2046
Trading Symbol	SHEL/46
Security Exchange Name	NYSE
4.00% Guaranteed Notes Due 2046
Document Information [Line Items]
Title of 12(b) Security	4.00% Guaranteed Notes due 2046
Trading Symbol	SHEL/46A
Security Exchange Name	NYSE
3.125% Guaranteed Notes Due 2049
Document Information [Line Items]
Title of 12(b) Security	3.125% Guaranteed Notes due 2049
Trading Symbol	SHEL/49
Security Exchange Name	NYSE
3.25% Guaranteed Notes Due 2050
Document Information [Line Items]
Title of 12(b) Security	3.25% Guaranteed Notes due 2050
Trading Symbol	SHEL/50
Security Exchange Name	NYSE
3.00% Guaranteed Notes Due 2051
Document Information [Line Items]
Title of 12(b) Security	3.00% Guaranteed Notes due 2051
Trading Symbol	SHEL/51
Security Exchange Name	NYSE

Inventories (Tables)

12 Months Ended

Dec. 31, 2022

Subclassifications of assets, liabilities and equities [abstract]

Summary of Detailed Information of Inventories


	$ million
	Dec 31, 2022	Dec 31, 2021
Oil, gas and chemicals	27,823	22,145
Environmental certificates	2,557	1,727
Materials	1,514	1,386
Total	31,894	25,258

Leases - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Leases - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Presentation of leases for lessee [abstract]
Cash outflow for leases	$ 6,280	$ 6,777

Property, plant and equipment - Summary of Capitalised Exploration Drilling Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property, plant and equipment [abstract]
At January 1	$ 3,015	$ 3,654	$ 5,668
Additions pending determination of proved reserves	1,298	1,024	1,016
Amounts charged to expense	(881)	(639)	(815)
Reclassifications to productive wells on determination of proved reserves	(531)	(577)	(1,385)
Other movements	10	(447)	(830)
At December 31	$ 2,911	$ 3,015	$ 3,654

Directors and senior management - Summary of Directors and Senior Management Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Directors And Senior Management Expense [Line Items]
Share-based compensation	$ 807	$ 539	$ 359
Total	13,971	12,092	12,131
Directors and Senior Management
Disclosure Of Directors And Senior Management Expense [Line Items]
Short-term benefits	33	27	14
Retirement benefits	2	3	3
Share-based compensation	17	16	17
Termination and related amounts	1	2	2
Total	$ 53	$ 48	$ 36

CONSOLIDATED BALANCE SHEET - USD ($)
$ in Millions

Dec. 31, 2022

Dec. 31, 2021

Non-current assets

^[1]

$ 16,039

$ 14,920

^[1]

9,662

9,773

198,642

194,932

Investments in securities

23,864

23,415

3,362

3,797

7,815

12,426

Trade and other receivables

10,200

8,471

6,920

7,065

582

815

277,086

275,614

Current assets

Trade and other receivables

31,894

25,258

66,510

53,208

Cash and cash equivalents

24,437

11,369

40,246

36,970

Total current assets other than non-current assets or disposal groups classified as held for sale or as held for distribution to owners

163,087

126,805

Assets classified as held for sale

2,851

1,960

Current assets

165,938

128,765

Total assets

443,024

404,379

Non-current liabilities

Debt

74,794

80,868

Trade and other payables

3,432

2,075

3,563

887

16,186

12,547

Decommissioning and other provisions

^[1]

7,296

11,325

23,845

25,804

Non-current liabilities

129,116

133,506

Current liabilities

Debt

9,001

8,218

Trade and other payables

^[1]

79,357

63,173

Decommissioning and other provisions

23,779

16,311

Income taxes payable

^[1]

4,869

3,254

2,910

3,338

Total current liabilities other than liabilities included in disposal groups classified as held for sale

119,916

94,294

Liabilities directly associated with assets classified as held for sale

1,395

1,253

Current liabilities

121,311

95,547

Total liabilities

250,427

229,053

Equity

Share capital

584

641

Shares held in trust

(726)

(610)

Other reserves

21,132

18,909

Retained earnings

169,482

153,026

Equity attributable to Shell plc shareholders

190,472

171,966

Non-controlling interest

2,125

3,360

Total equity

192,597

175,326

Total liabilities and equity

$ 443,024

$ 404,379

[1]	Goodwill, previously presented under Intangible assets, is separately presented as from 2022. Prior period comparatives have been revised to conform with current year presentation.

Climate change and energy transition (Tables)

12 Months Ended

Dec. 31, 2022

Climate Change and Energy Transition [Abstract]

Summary of carrying value of assets by segment

The carrying value of goodwill, other intangible assets, property plant and equipment, and joint ventures and associates by segment as at December 31, 2022, was as follows:


Carrying value


					$ billion
	Goodwill	Other intangible assets	Property, plant and equipment	Joint ventures and associates	Total
Integrated Gas	4.9	3.9	60.8	5.6	75.2
Upstream	5.3	0.2	74.5	7.7	87.7
Chemicals and Products	0.3	2.1	38.1	4.2	44.7
Marketing	3.3	1.8	19.1	4.4	28.6
Renewables and Energy solutions	2.2	1.6	3.2	1.9	8.9
Corporate	—	0.1	2.9	0.1	3.1
Total	16.0	9.7	198.6	23.9	248.2

Information by segment on a current cost of supplies basis is as follows:


2022


								$ million
	Integrated Gas		Upstream	Marketing	Chemicals and Products	Renewables and Energy Solutions	Corporate	Total
Revenue:
Third-party	54,751		8,352	120,638	144,342	53,190	41	381,314	[A]
Inter-segment	18,412		52,285	606	2,684	6,791	—	80,778
Share of profit/(loss) of joint ventures and associates (CCS basis)	1,219		2,111	237	374	(7)	(4)	3,930
Interest and other income, of which:	(714)		726	(104)	244	57	706	915
Interest income	43		22	—	24	(2)	959	1,046
Net gains on sale and revaluation of non-current assets and businesses	101		437	(186)	282	8	—	642
Other	(858)	[B]	267	82	(62)	51	(253)	(773)
Third-party and inter-segment purchases (CCS basis)	37,785		10,666	108,012	127,521	57,024	(28)	340,980
Production and manufacturing expenses	4,907		9,676	810	7,583	2,520	22	25,518
Selling, distribution and administrative expenses	218		233	7,351	3,592	972	517	12,883
Research and development expenses	112		456	222	187	98	—	1,075
Exploration expenses	240		1,472	—	—	—	—	1,712
Depreciation, depletion and amortisation charge, of which:	2,211		10,334	1,900	3,289	777	18	18,529
Impairment losses	115		950	480	356	412	—	2,313	[C]
Impairment reversals	(3,449)		(2,504)	(151)	(73)	—	—	(6,177)	[D]
Interest expense	84		345	46	22	2	2,682	3,181
Taxation charge/(credit) (CCS basis)	5,899		14,070	903	935	(303)	(7)	21,497
CCS earnings	22,212		16,222	2,133	4,515	(1,059)	(2,461)	41,562

[B]Includes the full write-down of the Nord Stream 2 loan amounting to $1,126 million. (See Note 6).

[C]Impairment losses comprise Property, plant and equipment ($1,799 million, see Note 12), Goodwill ($361 million) and Other intangible assets ($153 million).

[D]Impairment reversals fully comprise Property, plant and equipment. (See Note 12).

8. Segment information continued


2021


							$ million
	Integrated Gas [A]	Upstream [A]	Marketing [A]	Chemicals and Products [A]	Renewables and Energy Solutions [A]	Corporate	Total
Revenue:
Third-party	29,922	9,182	83,494	116,448	22,415	43	261,504	[B]
Inter-segment	8,072	35,789	254	1,890	4,675	—	50,680
Share of profit/(loss) of joint ventures and associates (CCS basis)	1,933	632	385	989	(27)	1	3,913
Interest and other income, of which:	1,596	4,592	278	37	200	353	7,056
Interest income	—	37	3	36	4	431	511
Net gains on sale and revaluation of non-current assets and businesses	1,610	4,130	285	(24)	(6)	—	5,995
Other	(14)	425	(10)	25	202	(78)	550
Third-party and inter-segment purchases (CCS basis)	20,188	9,094	70,745	103,294	26,048	(5)	229,364
Production and manufacturing expenses	4,194	9,797	950	6,815	2,098	(32)	23,822
Selling, distribution and administrative expenses	231	186	6,384	3,375	596	556	11,328
Research and development expenses	101	339	167	157	51	—	815
Exploration expenses	122	1,301	—	—	—	—	1,423
Depreciation, depletion and amortisation charge, of which:	5,908	13,485	1,700	5,485	326	17	26,921
Impairment losses	723	920	129	2,248	45	—	4,065	[C]
Impairment reversals	(204)	(9)	(1)	—	—	—	(214)	[D]
Interest expense	71	333	27	44	—	3,132	3,607
Taxation charge/(credit) (CCS basis)	2,648	6,057	903	(210)	(342)	(665)	8,391
CCS earnings	8,060	9,603	3,535	404	(1,514)	(2,606)	17,482

[A]Revised to conform with reporting segment changes applicable from 2022.

[C]Impairment losses mainly comprise Property, plant and equipment ($3,894 million, see Note 12) and Goodwill ($167 million).

[D]Impairment reversals fully comprise Property, plant and equipment. (See Note 12).

8. Segment information continued


2020


							$ million
	Integrated Gas [A]	Upstream [A]	Marketing [A]	Chemicals and Products [A]	Renewables and Energy Solutions [A]	Corporate	Total
Revenue:
Third-party	20,865	6,743	55,845	84,657	12,382	51	180,543	[B]
Inter-segment	4,357	21,020	152	1,056	1,597	—	28,182
Share of profit/(loss) of joint ventures and associates (CCS basis)	612	(7)	491	1,064	(50)	(268)	1,842
Interest and other income, of which:	212	541	143	(236)	(197)	406	869
Interest income	—	56	4	25	5	589	679
Net gains on sale and revaluation of non-current assets and businesses	212	54	117	(129)	8	24	286
Other	—	431	22	(132)	(210)	(207)	(96)
Third-party and inter-segment purchases (CCS basis)	10,961	4,471	43,856	71,490	12,129	9	142,916
Production and manufacturing expenses	4,957	10,195	779	6,952	1,091	27	24,001
Selling, distribution and administrative expenses	60	(31)	5,380	3,391	606	475	9,881
Research and development expenses	84	486	147	171	19	—	907
Exploration expenses	616	1,131	—	—	—	—	1,747
Depreciation, depletion and amortisation charge, of which:	19,314	21,079	1,499	10,096	424	32	52,444
Impairment losses	13,464	7,274	44	6,492	180	9	27,463	[C]

Interest expense	78	369	43	16	3	3,580	4,089
Taxation (credit)/charge (CCS basis)	(2,794)	(103)	846	(1,754)	(61)	(982)	(4,848)
CCS earnings	(7,230)	(9,300)	4,081	(3,821)	(479)	(2,952)	(19,701)

[A]Revised to conform with reporting segment changes applicable from 2022.

[C]Impairment losses comprise Property, plant and equipment ($26,676 million, see Note 12), Goodwill ($276 million) and Other intangible assets ($511 million).

Summary of PPE


Carrying amount of Integrated Gas and Upstream assets


							$ billion
	2016	2017	2018	2019	2020	2021	2022
Integrated Gas	95	94	91	93	79	75	75
Upstream	136	128	123	119	106	91	88
Total at December 31	231	222	214	212	185	166	163


Carrying amount of production assets


							$ billion
	2016	2017	2018	2019	2020	2021	2022
At December 31	169	154	149	141	125	112	111
Right of use assets				9	7	6	6
Total at December 31	169	154	149	150	132	118	117


Carrying amount of exploration and evaluation assets


							$ billion
	2016	2017	2018	2019	2020	2021	2022
At December 31	19	19	18	15	9	7	6


Carrying amount of Chemicals and Production assets


							$ billion
	2016	2017	2018	2019	2020	2021	2022
Chemicals	15	16	18	22	25	27	28
Refineries	10	14	14	13	7	6	6
Other	1	8	7	12	11	11	11
Total at December 31	26	38	39	47	43	44	45

4. Climate change and energy transition continued


Carrying amount of refineries


							$ billion
	2016	2017	2018	2019	2020	2021	2022
At December 31	10	14	14	13	7	6	6
Assets classified as held for sale						1
Total at December 31	10	14	14	13	7	7	6


Carrying amount of Marketing assets


						$ billion
	2017	2018	2019	2020	2021	2022
At December 31	15	15	20	23	25	29


Carrying amount of Renewables and Energy Solutions assets


						$ billion
	2017	2018	2019	2020	2021	2022
At December 31	1	1	3	3	5	9


2022 [A]


	$ million
	Exploration and production
	Exploration and evaluation	Production	Manufacturing, supply and distribution	Other	Total
Cost
At January 1	12,679	285,903	104,182	34,005	436,769
Additions	1,564	11,954	6,928	7,808	28,254
Sales, retirements and other movements [B]	(2,469)	(14,541)	(2,548)	(242)	(19,800)
Currency translation differences	(209)	(6,300)	(1,777)	(1,976)	(10,262)
At December 31	11,565	277,016	106,785	39,595	434,961
Depreciation, depletion and amortisation, including impairments
At January 1	5,580	167,530	55,131	13,596	241,837
Charge for the year [C]	397	9,709	5,149	2,055	17,310
Sales, retirements and other movements [B]	(765)	(13,207)	(2,054)	(396)	(16,422)
Currency translation differences	(50)	(4,370)	(1,325)	(661)	(6,406)
At December 31	5,162	159,662	56,901	14,594	236,319
Carrying amount at December 31	6,403	117,354	49,884	25,001	198,642

[A]Includes right-of-use assets under leases. (See Note 21).

[B]Includes the reclassification to assets classified as held for sale. (See Note 18).

[C]Includes $6,177 million relating to impairment reversals mainly in Integrated Gas and Upstream (see table 'Impairments' below).

12. Property, plant and equipment continued


2021 [A]


	$ million
	Exploration and production
	Exploration and evaluation	Production	Manufacturing, supply and distribution	Other	Total
Cost


At January 1	14,484	298,882	107,876	32,402	453,644
Additions	1,216	8,942	7,917	3,644	21,719
Sales, retirements and other movements [B]	(3,014)	(20,005)	(9,607)	(455)	(33,081)
Currency translation differences	(7)	(1,916)	(2,004)	(1,586)	(5,513)
At December 31	12,679	285,903	104,182	34,005	436,769
Depreciation, depletion and amortisation, including impairments
At January 1	5,258	167,711	58,242	12,733	243,944
Charge for the year	1,311	15,800	7,112	1,770	25,993
Sales, retirements and other movements [B]	(999)	(14,590)	(8,624)	(240)	(24,453)
Currency translation differences	10	(1,391)	(1,599)	(667)	(3,647)
At December 31	5,580	167,530	55,131	13,596	241,837
Carrying amount at December 31	7,099	118,373	49,051	20,409	194,932

[A]Includes right-of-use assets under leases. (See Note 21).

[B]Includes the reclassification to assets classified as held for sale. (See Note 18).

Climate change and energy transition summary of mid-price


						RT22 $/b
	2023	2025	2030	2035	2040	2050
Shell mid-price	77.8	65.5	65	65	65	65
Average prices from four 1.5-2 degrees Celsius external climate change scenarios	92.8	75.8	52.7	39.1	37.6	49
IEA NZE50	65.3	57.3	37.2	34.3	31.3	25.5
NGFS GCAM NZE 2050	72.1	73.7	75.5	79.2	81.2	109.8
IEA APS	72.1	71	68	67	65.9	63.8

Sensitivity analysis climate change and energy transition


Sensitivity + 10% to the mid-price outlook


			$ billion
	Carrying amount		Sensitivity
	Dec 31, 2022	Dec 31, 2021 [A]	2022		2021
Integrated Gas	75	65	2	3	3	5
Upstream	88	89	—	1	3	4
Total	163	154	2	4	6	9


Sensitivity averaged from three below-two-degrees-Celsius external climate scenarios


			$ billion
	Carrying amount		Sensitivity
	Dec 31, 2022	Dec 31, 2021 [A]	2022		2021
Integrated Gas	75	65	(4)	(6)	(13)	(16)
Upstream	88	89	(1)	(2)	(14)	(17)
Total	163	154	(5)	(8)	(27)	(33)


Sensitivity IEA NZE50


		$ billion
	Carrying amount	Sensitivity
	Dec 31, 2022	2022
Integrated Gas	75	(9)	(12)
Upstream	88	(8)	(11)
Total	163	(17)	(23)


Sensitivity - 10% to the mid-price outlook


			$ billion
	Carrying amount		Sensitivity
	Dec 31, 2022	Dec 31, 2021 [A]	2022		2021
Integrated Gas	75	65	(2)	(4)	(8)	(10)
Upstream	88	89	—	(1)	(4)	(5)
Total	163	154	(2)	(5)	(12)	(15)


Sensitivity Hybrid Shell Plan + IEA NZE50


			$ billion
	Carrying amount		Sensitivity
	Dec 31, 2022	Dec 31, 2021 [A]	2022		2021
Integrated Gas	75	65	(4)	(6)	(10)	(12)
Upstream	88	89	(1)	(2)	(5)	(6)
Total	163	154	(5)	(8)	(15)	(18)


Sensitivity IEA NZE 2050 carbon price scenario


			$ billion
	Carrying amount	Sensitivity
Integrated Gas	75	(2)	(5)
Upstream	88	—	—
Total	163	(2)	(5)

Application of the IEA NZE 2050 carbon price scenario had no significant impact on the carrying value of Upstream assets due to the existing headroom over the carrying value.

Summary of information about carbon prices

For the key regions and countries the following carbon prices per tonne (RT22) have been assumed in the Operating Plan:


	Operating plan period		Subsequent period
Region	2023-2029	2030-2032	2033-2050
European Union	$71-$121	$84-$88	$90-$125
Canada (Federal)	$40-$50	$54-$61	$65-$125
United States (Federal)	$0-$22	$27-$37	$42-$125
Australia	$25-$35	$36-$45	$50-$125
All other countries	$0-$37	$0-$49	$19-$125


					RT22 $/tonne
	2023	2025	2030	2035	2040	2050
Shell mid-price	121	73	84	94	104	125

IEA NZE50	97	112	149	177	205	266

Inventories

12 Months Ended

Dec. 31, 2022

Subclassifications of assets, liabilities and equities [abstract]

Subclassifications of assets, liabilities and equities [abstract]


	$ million
	Dec 31, 2022	Dec 31, 2021
Oil, gas and chemicals	27,823	22,145
Environmental certificates	2,557	1,727
Materials	1,514	1,386
Total	31,894	25,258

Inventories at December 31, 2022, include write-downs to net realisable value of $2,705 million (2021: $592 million).

Trade and other receivables (Tables)

12 Months Ended

Dec. 31, 2022

Summary of Trade and Other Receivables


	$ million
	Dec 31, 2022		Dec 31, 2021
	Current	Non-current	Current	Non-current
Trade receivables	39,334	—	34,717	—
Lease receivables	206	1,090	228	1,285
Other receivables	9,737	3,247	8,240	3,761
Amounts due from joint ventures and associates	2,722	423	1,048	499
Prepayments and deferred charges	14,511	2,160	8,975	1,520
Total	66,510	6,920	53,208	7,065

Summary of Maturity Analysis of Finance Lease Receivables

Lease contracts where Shell is the lessor are classified as finance leases or operating leases. Receivables for lease contracts classified as finance leases are as follows:


		$ million
	Dec 31, 2022	Dec 31, 2021
Less than one year	257	278
Between 1 and 5 years	792	852
5 years and later	532	715
Total undiscounted lease payments receivable	1,581	1,845
Unearned finance income	270	339
Net investment in leases	1,311	1,506

Dividends (Tables)

12 Months Ended

Dec. 31, 2022

Share Capital, Reserves And Other Equity Interest [Abstract]

Summary of Interim Dividends


	$ per share			$ million
	2022	2021 [A]	2020 [A]	2022	2021 [B]	2020 [B]

Cash:
March	0.24	0.1665	0.47	1,829	1,290	3,482
June	0.25	0.1735	0.16	1,850	1,331	1,239
September	0.25	0.24	0.16	1,818	1,854	1,236
December	0.25	0.24	0.1665	1,786	1,846	1,313
Total	0.99	0.82	0.9565	7,283	6,321	7,270

[A]In 2021 and 2020 Shell plc declared equal amounts of dividends per A and B share as presented in the table for those years.

[B]Dividends paid on A share totalled in 2021: $3,330 million and in 2020: $3,860 million; dividends paid on B share totalled in 2021: $2,991 million and in 2020: $3,410 million.

Property, plant and equipment - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) $ / bbl $ / MMBTU project $ / Boe	Dec. 31, 2021 USD ($) $ / bbl $ / MMBTU numberOfRefineries	Dec. 31, 2020 USD ($)
Disclosure of detailed information about property, plant and equipment [Line Items]
Carrying amount of assets under construction	$ 27,277	$ 37,006
Carrying amount of rights and concessions in respect of proved and unproved properties	7,662	8,849
Carrying amount of asset for which management's expectations were applied in the calculation of depreciation charge	0	1,634
Pre-tax depreciation charge increment if management's expectations were applied		1,184	$ 1,012
Carrying amount of asset for which an alternative reserves base was applied in the calculation of depreciation charge	26,129	17,462
Pre-tax depreciation charge increment if no alternative reserve base was applied	792	1,168	2,476
Contractual commitments for purchase and lease of property, plant and equipment	6,693	5,984
Impairment losses on property, plant and equipment	1,799	3,894	26,676
Impairment reversals	$ 6,177	$ 214	$ 0
Number Of Offshore Projects \| project	2
Number of refineries, impaired \| numberOfRefineries		3
Nominal post-tax discount rate	6.50%	6.50%	6.00%
Refining margin (USD per BBL) \| $ / Boe	6.22
Decrease in long-term refining margin assumptions (USD per BBL) \| $ / Boe	1
Increase in long-term refining margin assumptions (USD per BBL) \| $ / Boe	1
Percentage increase in discounting factor assumptions	1.00%
Exploration drilling costs capitalised	$ 443
Number of projects where drilling activities were underway \| project	6
Projects awaiting development concepts	$ 1,369
Number of projects awaiting further development concepts \| project	19
Russia
Disclosure of detailed information about property, plant and equipment [Line Items]
Impairment losses on property, plant and equipment	$ 854
Bottom of range
Disclosure of detailed information about property, plant and equipment [Line Items]
Impairment reversal due to decrease in long-term refining margin assumptions	$ 1,000
Bottom of range \| Goodwill
Disclosure of detailed information about property, plant and equipment [Line Items]
Nominal pre-tax discount rate	5.00%	7.00%
Top of range
Disclosure of detailed information about property, plant and equipment [Line Items]
Impairment reversal due to decrease in long-term refining margin assumptions	$ 3,000
Top of range \| Goodwill
Disclosure of detailed information about property, plant and equipment [Line Items]
Nominal pre-tax discount rate	12.00%	11.00%
Integrated Gas and Upstream
Disclosure of detailed information about property, plant and equipment [Line Items]
Percentage decrease in commodity price assumptions	(10.00%)
Percentage increase in commodity price assumptions	10.00%
Integrated Gas and Upstream \| Bottom of range
Disclosure of detailed information about property, plant and equipment [Line Items]
Impairment loss due to decrease in commodity price assumptions	$ 2,000
Impairment reversal due to increase in commodity price assumptions	2,000
Integrated Gas and Upstream \| Top of range
Disclosure of detailed information about property, plant and equipment [Line Items]
Impairment loss due to decrease in commodity price assumptions	5,000
Impairment reversal due to increase in commodity price assumptions	$ 4,000
Chemicals and Products
Disclosure of detailed information about property, plant and equipment [Line Items]
Decrease in long-term refining margin assumptions (USD per BBL) \| $ / Boe	(1)
Increase in long-term refining margin assumptions (USD per BBL) \| $ / Boe	1
Impairment loss due to decrease in long-term refining margin assumptions	$ 1,000
Chemicals and Products \| Bottom of range
Disclosure of detailed information about property, plant and equipment [Line Items]
Impairment reversal due to increase in commodity price assumptions	1,000
Impairment loss due to decrease in long-term refining margin assumptions	1,000
Chemicals and Products \| Top of range
Disclosure of detailed information about property, plant and equipment [Line Items]
Impairment reversal due to increase in commodity price assumptions	3,000
Impairment loss due to decrease in long-term refining margin assumptions	3,000
Integrated Gas \| Bottom of range
Disclosure of detailed information about property, plant and equipment [Line Items]
Impairment loss due to decrease in long-term refining margin assumptions	1,000
Integrated Gas \| Top of range
Disclosure of detailed information about property, plant and equipment [Line Items]
Impairment loss due to decrease in long-term refining margin assumptions	3,000
Upstream
Disclosure of detailed information about property, plant and equipment [Line Items]
Impairment loss due to decrease in long-term refining margin assumptions	1,000
Renewables and Energy Solutions
Disclosure of detailed information about property, plant and equipment [Line Items]
Impairment loss due to decrease in long-term refining margin assumptions	1,000
Marketing \| Assets classified as held for sale
Disclosure of detailed information about property, plant and equipment [Line Items]
Impairment losses on property, plant and equipment		$ 1,537
Integrated Gas
Disclosure of detailed information about property, plant and equipment [Line Items]
Impairment reversals	$ 3,449
Nominal pre-tax discount rate	5.00%	5.00%
Upstream
Disclosure of detailed information about property, plant and equipment [Line Items]
Impairment losses on property, plant and equipment	$ 320
Impairment reversals	2,504
Chemicals and Products
Disclosure of detailed information about property, plant and equipment [Line Items]
Impairment losses on property, plant and equipment	$ 257
Brent crude oil ($/b)
Disclosure of detailed information about property, plant and equipment [Line Items]
Commodity price after year 4 \| $ / bbl	65	60
Henry Hub natural gas ($/MMBtu)
Disclosure of detailed information about property, plant and equipment [Line Items]
Commodity price after year 4 \| $ / MMBTU	4.00	3.00
Exploration and production
Disclosure of detailed information about property, plant and equipment [Line Items]
Impairment losses on property, plant and equipment	$ 868	$ 1,533	$ 20,155
Impairment reversals	5,954	213	0
Exploration and production \| Integrated Gas
Disclosure of detailed information about property, plant and equipment [Line Items]
Impairment losses on property, plant and equipment		600	11,539
Exploration and production \| Upstream
Disclosure of detailed information about property, plant and equipment [Line Items]
Impairment losses on property, plant and equipment		373	8,629
Manufacturing, supply and distribution
Disclosure of detailed information about property, plant and equipment [Line Items]
Impairment losses on property, plant and equipment	474	2,340	6,490
Impairment reversals	$ 72	$ 0	0
Manufacturing, supply and distribution \| Marketing
Disclosure of detailed information about property, plant and equipment [Line Items]
Impairment losses on property, plant and equipment			$ 6,493

Trade and other payables (Tables)

12 Months Ended

Dec. 31, 2022

Subclassifications of assets, liabilities and equities [abstract]

Summary of Detailed Information about Trade and other Payables


	$ million
	Dec 31, 2022		Dec 31, 2021
	Current	Non-current	Current	Non-current
Trade payables	42,632	—	34,136	—
Other payables [A]	10,059	3,148	9,617	1,675
Sales taxes, excise duties and similar levies	3,270	—	3,522	—
Amounts due to joint ventures and associates	8,441	31	4,793	36
Accruals and deferred income	14,955	253	11,105	364
Total	79,357	3,432	63,173	2,075

[A]Includes obligations under environmental compliance schemes of $4,710 million as at December 31, 2022 (2021: $4,016 million). (See Note 5).

Interest and other income - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Analysis of income and expense [abstract]
Decrease through write-off, financial assets	$ 1,126
Income from subleasing right-of-use assets	$ 319	$ 313	$ 426

Taxation (Tables)

12 Months Ended

Dec. 31, 2022

Income Taxes [Abstract]

Summary of Taxation Charge


	$ million
	2022	2021	2020
Current tax:
Charge in respect of current period	16,383	7,254	3,272
Adjustments in respect of prior periods	(947)	(719)	(56)
Total	15,436	6,535	3,216
Deferred tax:
Relating to the origination and reversal of temporary differences, tax losses and credits	5,196	2,971	(9,063)
Relating to changes in tax rates and legislation	785	10	(16)
Adjustments in respect of prior periods	524	(317)	430
Total	6,505	2,664	(8,649)
Total taxation charge/(credit)	21,941	9,199	(5,433)

Summary of Reconciliation of Applicable Tax Charge at Statutory Tax Rates to Taxation Charge


			$ million
	2022	2021	2020
Income/(loss) before taxation	64,815	29,829	(26,967)
Less: share of profit of joint ventures and associates	(3,972)	(4,097)	(1,783)
Income/(loss) before taxation and share of profit of joint ventures and associates	60,843	25,732	(28,750)
Applicable tax charge/(credit) at standard statutory tax rates	22,170	10,097	(8,330)
Adjustments in respect of prior periods	(424)	(1,036)	374
Tax effects of:
Incentives for investment and development	(1,388)	(467)	(557)
Expenses not deductible for tax purposes	849	893	1,239
Changes in tax rates and legislation	785	10	(16)
(Recognition)/derecognition of deferred tax assets	(457)	(113)	1,458
Income not subject to tax at standard statutory rates	234	90	6
Exchange rate differences	(102)	53	339
Disposals	39	(328)	(34)
Other reconciling items	235	—	88
Taxation charge/(credit)	21,941	9,199	(5,433)

Summary of Tax Rates


	2022	2021	2020
Weighted average of statutory tax rates	36%	39%	29%
Effective tax rate based on income before taxation	34%	31%	20%
Effective tax rate based on Income before taxation excluding share of profit of joint ventures and associates	36%	36%	19%

Summary of Deferred Tax


						$ million
Deferred tax asset	Decommissioning and other provisions	Property, plant and equipment	Tax losses and credits carried forward	Retirement benefits	Other	Total
At January 1, 2022	6,562	4,993	10,518	2,744	4,545	29,362
(Charge)/credit to income	(217)	(1,261)	(3,434)	(66)	160	(4,818)
Currency translation differences	(303)	(63)	(426)	(40)	(109)	(941)
Other comprehensive income	—	—	18	(618)	70	(530)
Other	7	621	(230)	(43)	161	516
At December 31, 2022	6,049	4,290	6,446	1,977	4,827	23,589
Deferred tax liability
At January 1, 2022		(23,144)		(2,736)	(3,603)	(29,483)
(Charge)/credit to income		(1,503)		93	(277)	(1,687)
Currency translation differences		380		287	170	837
Other comprehensive income		4		(870)	18	(848)
Other		(555)		37	(261)	(779)
At December 31, 2022		(24,818)		(3,189)	(3,953)	(31,960)
Net deferred tax liability at December 31, 2022						(8,371)
Deferred tax asset/liability as presented in the balance sheet at December 31, 2022
Deferred tax asset						7,815
Deferred tax liability						(16,186)


2021 – Deferred tax


						$ million
Deferred tax asset	Decommissioning and other provisions	Property, plant and equipment	Tax losses and credits carried forward	Retirement benefits	Other	Total
At January 1, 2021	6,567	5,232	12,496	3,774	5,084	33,153
(Charge)/credit to income	63	(163)	(1,669)	(537)	(395)	(2,701)
Currency translation differences	(64)	(75)	(252)	(72)	(46)	(509)
Other comprehensive income	(3)	—	64	(435)	(74)	(448)
Other	(1)	(1)	(121)	14	(24)	(133)
At December 31, 2021	6,562	4,993	10,518	2,744	4,545	29,362
Deferred tax liability
At January 1, 2021		(23,801)		(673)	(2,831)	(27,305)
Credit/(charge) to income		566		319	(848)	37
Currency translation differences		71		114	48	233
Other comprehensive income		(18)		(2,481)	4	(2,495)
Other		38		(15)	24	47
At December 31, 2021		(23,144)		(2,736)	(3,603)	(29,483)
Net deferred tax asset at December 31, 2021						(121)
Deferred tax asset/liability as presented in the balance sheet at December 31, 2021
Deferred tax asset						12,426
Deferred tax liability						(12,547)

Assets held for sale (Tables)

12 Months Ended

Dec. 31, 2022

Non-current assets held-for-sale [Abstract]

Schedule of Non-current Assets Held For Sale


			$ million
		Dec 31, 2022			Dec 31, 2021
	Current	Non-current	Total	Current	Non-current	Total
Intangible assets	—	—	—	—	116	116
Property, plant and equipment	—	2,526	2,526	—	896	896
Joint ventures and associates	—	94	94	—	—	—
Investments in securities	—	128	128	—	—	—
Trade and other receivables	44	51	95	349	71	420
Inventories	8	—	8	528	—	528
Assets classified as held for sale	52	2,799	2,851	877	1,083	1,960
Debt	3	1	4	257	199	456
Trade and other payables	256	22	278	235	140	375
Deferred tax	—	—	—	—	41	41
Retirement benefits	—	—	—	—	108	108
Decommissioning and other provisions	134	971	1,105	10	219	229
Income taxes payable	8	—	8	44	—	44
Liabilities directly associated with assets classified as held for sale	401	994	1,395	546	707	1,253

Significant accounting policies, judgements and estimates (Policies)

12 Months Ended

Dec. 31, 2022

Accounting Policies, Changes In Accounting Estimates And Errors [Abstract]

Nature of the Consolidated Financial Statements

Currency translation

Revenue recognition

Revenue resulting from arrangements that are not considered contracts with customers is presented as revenue from other sources.

Research and development

Exploration costs

Exploration costs Hydrocarbon exploration costs are accounted for under the successful efforts method: exploration costs are recognised in income when incurred, except that exploratory drilling costs, including in respect of the recapitalisation of the depreciation, are included in property, plant and equipment pending determination of proved reserves. Exploration costs capitalised in respect of exploration wells that are more than 12 months old are written off unless: (a) proved reserves are booked; or (b) (i) they have found commercially producible quantities of reserves; and (ii) they are subject to further exploration or appraisal activity in that either drilling of additional exploratory wells is under way or firmly planned for the near future or other activities are being undertaken to sufficiently progress the assessing of reserves and the economic and operating viability of the project.

Property, plant and equipment and intangible assets

Property, plant and equipment and intangible assets other than goodwill

Recognition

2. Significant accounting policies, judgements and estimates continued

Depreciation, depletion and amortisation

On classification of an asset as held for sale, depreciation ceases.

Estimates of the useful lives and residual values of property, plant and equipment and intangible assets other than goodwill are reviewed annually and adjusted if appropriate.

Impairment

Impairments are reversed as applicable to the extent that the events or circumstances that triggered the original impairment have changed.

Impairment losses and reversals are reported within depreciation, depletion and amortisation.

Upon classification of an asset as held for sale, the carrying amount is impaired if this exceeds the fair value less costs to sell.

2. Significant accounting policies, judgements and estimates continued



			Judgements and estimates Proved oil and gas reserves Unit-of-production depreciation, depletion and amortisation charges are principally measured based on management’s estimates of proved developed oil and gas reserves. Also, exploration drilling costs are capitalised pending the results of further exploration or appraisal activity (successful efforts method), which may take place for several years before the final investment decision on a development project is taken and before any related proved reserves can be booked. Proved reserves are estimated by internal qualified professionals. The proved reserves are estimated with reasonable certainty by analysis of available geological and engineering data at the time of the estimation, and only include volumes for which access to market is assured with reasonable expectation. Yearly average oil and gas prices are used for the estimation of proved reserves unless prices are defined by contractual arrangements, excluding escalations based upon future conditions. Proved reserves are subject to regular revision, both upward or downward, based on new information from the drilling of additional wells, observation of long-term reservoir performance under producing conditions, updates of development plans and changes in economic factors, including product prices, contract terms, legislation or development plans. Changes to estimates of proved developed reserves affect prospectively the amounts of depreciation, depletion and amortisation charged and, consequently, the carrying amounts of exploration and production assets. Generally, in the normal course of business the diversity of the asset portfolio will limit the net effect of such revisions. The outcome of, or assessment of plans for, exploration or appraisal activity may result in the related capitalised exploration drilling costs being recognised in income in that period. Judgement is involved in determining when to use an alternative reserves base in order to appropriately reflect the expected utilisation of the assets concerned (see "Depreciation, depletion and amortisation"). Information about the carrying amounts of exploration and production assets and the amounts charged to income, including depreciation, depletion and amortisation and the quantitative impact of the use of an alternative reserves base, is presented in Note 12. Impairment For the purposes of determining whether impairment of assets has occurred, and the extent of any impairment loss or its reversal, the key assumptions management uses in estimating risk-adjusted future cash flows for value in use measures are future oil and gas prices and refining margins. In addition, management uses other assumptions such as potential costs associated with operational GHG emissions and expected production volumes appropriate to the local circumstances and environment. These assumptions and the judgements of management that are based on them are subject to change as new information becomes available. Changes in assumptions could affect the carrying amounts of assets, and any impairment losses and reversals will affect income. Changes in economic conditions can affect the rate used to discount future cash flow estimates or the risk adjustment in the future cash flows. Judgement is applied to conclude whether changes in assumptions or economic conditions are an indicator that an asset may be impaired or that an impairment loss recognised in prior periods may no longer exist, or may have decreased. Expected production volumes, which comprise proved reserves and unproved volumes, are used for impairment testing because management believes this to be the most appropriate indicator of expected future cash flows. Reserves estimates are inherently imprecise. Furthermore, projections about unproved volumes are based on information that is necessarily less robust than that available for mature reservoirs. Estimation is involved with respect to the expected life of energy and chemicals parks, including management’s view on the future development of refining margins. The determination of cash-generating units requires judgement. Changes in this determination could impact the calculation of value in use and therefore the conclusion on the recoverability of assets’ carrying amounts when performing an impairment test. Judgement, which is subject to change as new information becomes available, can be required in determining when an asset is classified as held for sale. A change in that judgement could result in impairment charges affecting income, depending on whether classification requires a write-down of the asset to its fair value less costs to sell. In assessing the value in use, the estimated risk-adjusted future post-tax cash flows are discounted to their present value using a post-tax discount rate that reflects Shell’s post-tax WACC. The discount rate applied does not reflect asset-specific risks for which future cash flow estimates have been adjusted. Significant estimates Assumptions about future commodity prices and refining margins used in the impairment testing in, respectively, Integrated Gas and Upstream and Chemicals and Products (see Note 12) are regularly assessed by management, noting that management does not necessarily consider short-term increases or decreases in prices as being indicative of long-term levels. The price methodology applied is based on Shell management’s understanding and interpretation of demand and supply fundamentals in the near term, taking into account various other factors such as industry rationalisation and energy transition in the long term. Future commodity prices and refining margins used in impairment testing provide a source of estimation uncertainty as referred to in paragraph 125 of IAS 1 Presentation of Financial Statements (IAS 1.125). Information about the carrying amounts of assets and impairments and their sensitivity to changes in significant estimates is presented in Notes 11 and 12.

Joint arrangements and associates

Goodwill is not amortised and is subsequently measured at the initial amount recognised less any accumulated impairment losses.

Impairment

Previously recognised impairment losses of goodwill are not reversed subsequently.

Leases

Impairment of the right-of-use asset

Right-of-use assets are subject to existing impairment requirements as set out in "Property, plant and equipment", above, and as presented
in Note 12.



			Judgements and estimates A lease term includes optional lease periods where it is reasonably certain Shell will exercise the option to extend or not exercise the option to terminate the lease. Determination of the lease term is subject to judgement and has an impact on the measurement of the lease liability and related right-of-use asset. When assessing the lease term at the commencement date, Shell takes into consideration the broader economics of the contract. Reassessment of the lease term is performed upon changes in circumstances that may affect the probability that an option to extend or to terminate the lease will be exercised. Where the rate implicit in the lease is not readily available, an incremental borrowing rate is applied. This incremental borrowing rate reflects the rate of interest that the lessee would have to pay to borrow over a similar term, with a similar security, the funds necessary to obtain an asset of a similar nature and value to the right-of-use asset in a similar economic environment. Determination of the incremental borrowing rate requires estimation.

Shell recognises its assets and liabilities relating to its interests in joint operations, including its share of assets held jointly and liabilities incurred jointly with other partners.

InventoriesInventories are stated at cost or net realisable value, whichever is lower. Cost comprises direct purchase costs (including transportation), and associated costs incurred in bringing inventories to their present condition and location, and is determined using the first-in, first-out (FIFO) method for oil, gas and chemicals and by the weighted average cost method for materials.

Taxation

Income tax receivables and payables as well as deferred tax assets and liabilities include provisions for uncertain income tax positions/treatments.



			Judgements and estimates Tax liabilities are recognised when it is considered probable that there will be a future outflow of funds to a taxing authority. In such cases, provision is made for the amount that is expected to be settled, where this can be reasonably estimated. Provisions for uncertain income tax positions/treatments are measured at the most likely amount or the expected value, whichever method is more appropriate. Generally, uncertain tax treatments are assessed on an individual basis, except where they are expected to be settled collectively. It is assumed that taxing authorities will examine positions taken if they have the right to do so and that they have full knowledge of the relevant information. A change in estimate of the likelihood of a future outflow and/or in the expected amount to be settled would be recognised in income in the period in which the change occurs. This requires the application of judgement as to the ultimate outcome, which can change over time depending on facts and circumstances. Judgements mainly relate to transfer pricing, including inter-company financing, interpretation of PSCs, expenditure deductible for tax purposes and taxation arising on disposal.

2. Significant accounting policies, judgements and estimates continued



			Judgements and estimates continued Deferred tax assets are recognised only to the extent it is considered probable that those assets will be recoverable. This involves an assessment of when those assets are likely to reverse, and a judgement as to whether or not there will be sufficient taxable profits available to offset the assets when they do reverse. This requires assumptions regarding future profitability and is therefore inherently uncertain. To the extent assumptions regarding future profitability change, there can be an increase or decrease in the amounts recognised in respect of deferred tax assets as well as in the amounts recognised in income in the period in which the change occurs. Taxation information, including charges and deferred tax assets and liabilities, is presented in Note 22. Income taxes include taxes at higher rates levied on income from certain Integrated Gas and Upstream activities.

Share-based compensation plans

Benefits in the form of retirement pensions and health care and life insurance are provided to certain employees and retirees under defined benefit and defined contribution plans.

For defined contribution plans, pension expense represents the amount of employer contributions payable for the period.



			Significant judgements and estimates Defined benefit obligations and plan assets, and the resulting liabilities and assets that are recognised, require significant estimation as these are subject to volatility as (actuarial) assumptions regarding future outcomes and market values change. Substantial judgement is required in determining the actuarial assumptions, which vary for the different plans to reflect local conditions but are determined under a common process in consultation with independent actuaries. The assumptions applied in respect of each plan are reviewed annually and adjusted where necessary to reflect changes in experience and actuarial recommendations. Actuarial assumptions applied in determining defined benefit obligations provide a source of estimation uncertainty as referred to in IAS 1.125. Information about the amounts reported in respect of defined benefit pension plans, assumptions applicable to the principal plans and their sensitivity to changes in significant estimates is presented in Note 23.

Provisions



			Estimates Estimates of provisions for future decommissioning and restoration costs are recognised and based on current legal and constructive requirements, technology and price levels. Because actual cash outflows can differ from estimates due to changes in laws, regulations, public expectations, technology, prices and conditions, and can take place many years in the future, the carrying amounts of provisions are regularly reviewed and adjusted to take account of such changes. Significant estimate The discount rate applied to reflect the time value of money in the carrying amount of provisions requires estimation. The discount rate used in the calculation of provisions is the pre-tax rate that reflects current market assessments of the time value of money. Generally, the market assessments of the time value of money can be reflected in the risk-free rate and given the long-term investment nature of oil and gas business, Shell considers it appropriate to use the 20-year US Treasury bond yield return as the risk-free rate. The discount rate applied is reviewed regularly and adjusted following changes in market rates. The discount rate applied to determine the carrying amount of provisions provides a source of estimation uncertainty as referred to in IAS 1.125. Information about decommissioning and restoration provisions and their sensitivity to changes in estimates is presented in Note 24.

Financial instruments

Financial assets

2. Significant accounting policies, judgements and estimates continued

Investments in securities

Impairment of financial assets

Cash and cash equivalents

Financial liabilities

Derivative contracts and hedges

Derivatives that are held primarily for the purpose of trading are presented as current in the Consolidated Balance Sheet.

2. Significant accounting policies, judgements and estimates continued

Fair value measurements



			Estimate Where available, fair value measurements are derived from prices quoted in active markets for identical assets or liabilities. In the absence of such information, other observable inputs are used to estimate fair value. Inputs derived from external sources are corroborated or otherwise verified, as appropriate. In the absence of publicly available information, fair value is determined using estimation techniques that take into account market perspectives relevant to the asset or liability, in as far as they can reasonably be ascertained, based on predominantly unobservable inputs. For derivative contracts where publicly available information is not available, fair value estimations are generally determined using models and other valuation methods, the key inputs for which include future prices, volatility, price correlation, counterparty credit risk and market liquidity, as appropriate; for other assets and liabilities, fair value estimations are generally based on the net present value of expected future cash flows.

Share-based compensation plans

Shares held in trust

Shares held in trust

Acquisitions and sales of interests in a business

Acquisitions and sales of interests in a business Assets acquired and liabilities assumed when control is obtained over a business, and when an interest or an additional interest is acquired in a joint operation which is a business, are recognised at their fair value at the date of the acquisition; the amount of the purchase consideration above this value is recognised as goodwill. When control is obtained, any non-controlling interest is recognised as the proportionate share of the identifiable net assets. The acquisition of a non-controlling interest in a subsidiary and the sale of an interest while retaining control are accounted for as transactions within equity. The difference between the purchase consideration or sale proceeds after tax and the relevant proportion of the non-controlling interest, measured by reference to the carrying amount of the interest’s net assets at the date of acquisition or sale, is recognised in retained earnings as a movement in equity attributable to Shell plc shareholders.

Emission schemes and related environmental programmes

Emission trading schemes

Biofuel programmes

2. Significant accounting policies, judgements and estimates continued

Renewable power programmes

Consolidated Statement of Income Presentation

Consolidated Statement of Income presentation

Share-based compensation plans and shares held in trust

12 Months Ended

Dec. 31, 2022

Share-based Payment Arrangements [Abstract]

Share-Based Compensation Plans and Shares Held in Trust

Share-based compensation plans and shares held in trust


Share-based compensation expense


	$ million
	2022	2021	2020
Equity-settled [A]	807	539	359

[A]On an incidental basis awards may be cash-settled, where an equity settlement is not possible under local regulations.

The principal share-based employee compensation plans are the PSP and LTIP. Awards of shares and American Depositary Shares (ADS) of the Company under the PSP and LTIP are granted upon certain conditions to eligible employees. The actual number of shares that may vest ranges from 0% to 200% of the awards, depending on the outcomes of prescribed performance conditions over a three-year period beginning on January 1 of the award year.


Share awards


	Number of A shares (million)	Number of B shares (million)	Number of ordinary shares (million) [A]	Number of ADSs (million)	Weighted average remaining contractual life (years)
At January 1, 2022	38	12		9	1.2
Assimilation of ordinary A and B shares into ordinary shares	(38)	(12)	50
Granted			22	4
Vested			(16)	(3)
Forfeited			(2)	(1)
At December 31, 2022			54	9	1.1
At January 1, 2021	29	10		8	1.0
Granted	20	6		4
Vested	(9)	(3)		(2)
Forfeited	(2)	(1)		(1)
At December 31, 2021	38	12		9	1.2

[A]On January 29, 2022, as part of the Simplification announced on December 20, 2021, the Company's A and B shares were assimilated into a single line of ordinary shares.

Other plans offer eligible employees opportunities to acquire shares and ADSs of the Company or receive cash benefits measured by reference to the Company’s share price.

Shell employee share ownership trusts and trust-like entities purchase the Company’s shares in the open market to meet delivery commitments under employee share plans. At December 31, 2022, they held a total of 23.9 million ordinary shares (2021: A shares: 15.6 million and B shares: 4.5 million) and 4.5 million ADSs (2021: 4.5 million).

Withdrawal from Russian oil and gas activities

12 Months Ended

Dec. 31, 2022

Interest in other entities [Abstract]

Withdrawal from Russian oil and gas activities

Following the invasion of Ukraine by Russia, Shell announced in the first quarter of 2022 its intent to:

▪withdraw from its ventures in Russia with Gazprom and related entities, and to end its involvement in the Nord Stream 2 pipeline project;

▪withdraw from its service station and lubricants operations in Russia; and

▪withdraw in a phased manner from its involvement in all Russian hydrocarbons, including crude oil, petroleum products, gas and LNG,
aligned with new government guidance.

Since these announcements:

▪Shell stopped all spot purchases of Russian crude, liquefied natural gas, and of cargoes of refined products directly exported from Russia. Shell has not renewed any long-term contracts for Russian crude, but was still legally obliged to take delivery of crude bought under contracts that were signed before the invasion.

▪All of Shell's long-term third-party purchases of Russian crude have stopped (when contractually allowed and all by the end of 2022).

▪All of Shell's contracts to purchase refined products exported from Russia have also ended.

▪Shell's two pipeline gas contracts terminated by the end of 2022.

6. Withdrawal from Russian oil and gas activities continued

▪Shell still holds two long-term LNG offtake contracts with Russian entities, accounted for as regular sales and purchase contracts.
The counterparty in one of these contracts stopped delivering cargoes to Shell in the third quarter of 2022.

▪Shell sold its service station and lubricants operations in Russia in the second quarter of 2022.

These actions led to recognition of net pre-tax charges of $4,170 million (post-tax: $3,804 million) in 2022. These were recognised in:


2022			$ million
Revenue			(468)
Share of profit of joint ventures and associates			(1,614)
Interest and other income/(expenses)			(1,116)
Selling, distribution and administrative expenses			(104)
Depreciation, depletion and amortisation			(695)
Other			(173)
Loss before taxation			(4,170)
Taxation credit			(366)
Loss for the period			(3,804)

In relation to the assets with a potential exposure to Shell's intended withdrawal from all Russian hydrocarbons, including those assets for which the above charges were recognised during the year, there is a $0.1 billion balance sheet carrying amount as at December 31, 2022.

Further details are provided below.

Integrated Gas

Sakhalin-2

Shell holds a 27.5% (minus one share) interest in Sakhalin Energy Investment Company Ltd. (SEIC). Other ownership interests were Gazprom 50% (plus one share), Mitsui 12.5% and Mitsubishi 10%. Up to March 31, 2022, this investment was accounted for as an associate applying the equity method. Following the first quarter announcements, the recoverable amount of the investment was estimated as the risk-adjusted dividends declared on Sakhalin's 2021 results, of which the first part was received in April 2022. This resulted in recognition of an impairment charge of $1,614 million in the first quarter 2022. Significant influence over the Sakhalin-2 investment was lost from April 1, 2022, with the resignation of Shell's executive directors and withdrawal of managerial and technical staff, 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.

On June 30, 2022, a Russian Presidential Decree was passed requiring the transfer of all licences, rights and obligations of SEIC into a newly-created Russian company (LLC) that would assume the rights and obligations of SEIC. The decree stated that the foreign shareholders would be invited to apply for shares in that entity equivalent to their shareholding in SEIC. Following the receipt of dividends in the second quarter 2022 and the Presidential Decree, appropriate fair value adjustments to the investment value have been recognised, against other comprehensive income.

Shell understands that pursuant to the Presidential Decree, all licences, assets, rights and obligations of SEIC were purportedly transferred to the LLC on August 17, 2022. On September 1, 2022, Shell formally advised the Russian Federation (RFG) that it would not apply for shares in the LLC, that it objected to the purported transfers from SEIC to the LLC and that it reserved all rights and remedies. Shell understands the RFG has commenced a process to sell those shares in the LLC which Shell did not apply for. This process was expected to be completed in the first quarter 2023, but the decree was amended in January 2023 to remove the timeline. Pursuant to the Presidential Decree, the RFG is also expected to conduct an audit of 'the activities of foreign shareholders in SEIC and/or individuals', based on which the RFG will determine the 'amount of damage caused' and 'persons liable to indemnify it'. The carrying value of the investment is zero as at December 31, 2022.

Nord Stream 2

Shell is one of five energy companies which each committed to provide financing and guarantees for up to 10% of the total cost of the project, with the final loan instalments having been made in the second quarter 2020. Following the first quarter 2022 announcements, Shell assessed the recoverability of the loan to Nord Stream 2, leading to a full write-down in the first quarter 2022 of the loan amounting to $1,126 million. On September 26, 2022, one of the two Nord Stream 2 pipelines ruptured resulting in a gas leak and significant damage. Investigations are now under way to determine the cause of the rupture. The rupture had no financial impact, following the previous full write-down of the loan.

Upstream

Salym

Shell has a 50% interest in Salym Petroleum Development N.V. (Salym), a joint operation with GazpromNeft (GPN) that is developing the Salym fields in the Khanty Mansiysk Autonomous District of western Siberia. Shell consolidated its share in the joint operation. Following the first quarter announcements, Shell assessed the recoverability of the Salym carrying amounts, leading to full impairment amounting to $233 million in the first quarter 2022. In July 2022, the Shell directors of Salym resigned. Joint control was lost early in the third quarter 2022 and from that date Salym was accounted for as a financial asset at fair value, with a carrying value of zero. Pursuant to Russian legislative changes and court decisions in the second and third quarter 2022, the Russian branch of Salym was purportedly transformed into a Russian LLC (Salym Petroleum Development Limited Liability Company). All assets, rights and obligations of the Russian branch of Salym were purportedly transferred to that entity, of which Shell, purportedly, automatically held 50%. On March 3, 2023, Shell announced that it had completed the sale of its interest in Salym Petroleum Development Limited Liability Company to a subsidiary of GPN for which an agreement was signed on December 22, 2022.

6. Withdrawal from Russian oil and gas activities continued

Khanty-Mansiysk Petroleum Alliance partnership

Shell had a 50% interest in the Khanty-Mansiysk Petroleum Alliance partnership. Through this, Shell was a holder of a 50% interest in the CJSC Khanty-Mansiysk Petroleum Alliance. On February 22, 2023, Shell completed the sale of its interest in CJSC Khanty-Mansiysk Petroleum Alliance to a subsidiary of GPN for which an agreement was signed on December 22, 2022.

Gydan

Shell had a 50% interest in LLC Gydan Energy, a joint operation with GazpromNeft to explore and develop blocks in the Gydan peninsula, in north-western Siberia. This project is in the exploration phase, with no production. Following the first quarter announcements, Shell assessed the recoverability of the Gydan carrying amounts, leading to full impairment amounting to $153 million and other charges of $35 million in the first quarter 2022. During the second quarter 2022, all rights and obligations for Shell’s 50% interest were transferred to GazpromNeft with an insignificant impact on the income statement.

Marketing

Shell Neft’s retail network consisted of 240 sites owned by Shell Neft and 171 sites owned by dealers and Shell Neft operated a lubricant blending plant. Shell Neft was a 100% Shell-owned subsidiary and was fully consolidated until the date of the disposal. Following the first quarter 2022 announcements, Shell assessed the recoverability of Shell Neft carrying amounts, resulting in an impairment of non-current assets of $358 million and other charges of $236 million. In the second quarter 2022, Shell transferred all shares of Shell Neft to Lukoil leading to net charges of $83 million, including the release of currency translation losses ($343 million).

Other

Marked-to-market risk adjustments of $335 million related to long-term offtake natural gas contracts, an impairment of right-of-use assets of $114 million and other charges of $36 million were recognised in the first quarter 2022. In the second quarter 2022, further marked-to-market risk adjustments of $133 million were recognised following changes demanded to the contractual payment mechanism leading to the suspension by Gazprom of gas deliveries under these long-term offtake contracts. Finally, $140 million was recognised in income in the second quarter 2022 from the derecognition of lease liabilities following the termination of lease arrangements for which the right-of-use assets were impaired in the first quarter 2022.

In September 2021, Shell signed a binding novation agreement to take over a GasTerra gas supply contract with Gazprom Export LLC (Gazprom), with the transfer to take effect from October 1, 2022. Upon transfer and pursuant to the novation agreement, Shell recognised the transfer of a payable of approximately €1.3 billion ($1.4 billion) in respect of gas delivered by Gazprom to GasTerra in April and May of 2022. An equivalent receivable from GasTerra was recognised pursuant to the terms of the novation agreement. Gazprom ceased to supply gas to GasTerra at the end of May 2022. The gas supply contract terminated in December 2022.

Leases (Tables)

12 Months Ended

Dec. 31, 2022

Presentation of leases for lessee [abstract]

Summary of Right-of-use Assets

Right-of-use assets are included in property, plant and equipment for the following amounts:


2022


	$ million
	Exploration and production		Manufacturing, supply and distribution
	Exploration and evaluation	Production		Other [B]	Total
Cost
At January 1	5	14,322	15,748	8,031	38,106
Additions	—	1,088	2,305	2,111	5,504
Sales, retirements and other movements [A]	(5)	(569)	(1,530)	319	(1,785)
Currency translation differences	—	(166)	(60)	(562)	(788)
At December 31	—	14,675	16,463	9,899	41,037
Depreciation, depletion and amortisation, including impairments
At January 1	—	7,935	5,946	2,273	16,154
Charge for the year	—	1,182	2,223	797	4,202
Sales, retirements and other movements [A]	—	(751)	(1,444)	23	(2,172)
Currency translation differences	—	(91)	(30)	(143)	(264)
At December 31	—	8,275	6,695	2,950	17,920
Carrying amount at December 31	—	6,400	9,768	6,949	23,117

[A]Includes the reclassification of right-of-use assets to assets held for sale. (See Note 18).

[B]"Other" mainly includes lease contracts for retail sites, land and buildings in Marketing, Renewables and Energy Solutions and Corporate.


2021


	$ million
	Exploration and production		Manufacturing, supply and distribution
	Exploration and evaluation	Production		Other [A]	Total
Cost


At January 1	5	14,440	14,526	7,384	36,355
Additions	—	311	2,149	1,420	3,880
Sales, retirements and other movements	—	(365)	(868)	(259)	(1,492)
Currency translation differences	—	(64)	(59)	(514)	(637)
At December 31	5	14,322	15,748	8,031	38,106
Depreciation, depletion and amortisation, including impairments
At January 1	—	6,997	5,013	1,793	13,803
Charge for the year	—	1,373	2,060	783	4,216
Sales, retirements and other movements	—	(400)	(1,093)	(157)	(1,650)
Currency translation differences	—	(35)	(34)	(146)	(215)
At December 31	—	7,935	5,946	2,273	16,154
Carrying amount at December 31	5	6,387	9,802	5,758	21,952

[A]Includes the reclassification of right-of-use assets to assets held for sale. (See Note 18).

[B]"Other" mainly includes lease contracts for retail sites, land and buildings in Marketing, Renewables and Energy Solutions and Corporate.

Schedule of Lease Expenses not Included in the Measurement of Lease Liability

Shell also has certain lease contracts of items with lease terms of 12 months or less. For these lease contracts, Shell applies the "short-term lease" recognition exemption. Lease expenses not included in the measurement of lease liability are:


Lease expenses not included in the measurement of lease liability


		$ million
	2022	2021
Expense relating to short-term leases	552	644
Expense relating to variable lease payments	1,251	1,172

Schedule of Future Lease Payments Under Lease Contracts

The future lease payments under lease contracts and the carrying amounts at December 31, by payment date are as follows:


2022


	$ million
	Contractual lease payments		Interest	Lease liabilities
Less than 1 year	5,914		1,533	4,381
Between 1 and 5 years	15,624		4,655	10,969
5 years and later	17,935		5,642	12,293
Total	39,473	[A]	11,830	27,643

[A]Future cash outflows in respect of leases may differ from lease liabilities recognised due to future decisions that may be taken by Shell in respect of the use of leased assets. These decisions may result in variable lease payments being made. In addition, Shell may reconsider whether it will exercise extension options or termination options, where future reconsideration is not reflected in the lease liabilities. There is no exposure to these potential additional payments in excess of the recognised lease liabilities until these decisions have been taken by Shell.


2021


	$ million
	Contractual lease payments	Interest	Lease liabilities
Less than 1 year	5,805	1,667	4,138
Between 1 and 5 years	15,889	4,972	10,917
5 years and later	18,309	5,857	12,452
Total	40,003	12,496	27,507

Taxation - Summary of Deferred Tax (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax asset, Beginning balance	$ 29,362	$ 33,153
(Charge)/credit to income	(4,818)	(2,701)
Currency translation differences	(941)	(509)
Other comprehensive income	(530)	(448)
Other	516	(133)
Deferred tax asset, Ending balance	23,589	29,362
Deferred tax liability, Beginning Balance	(29,483)	(27,305)
(Charge)/credit to income	(1,687)	37
Currency translation differences	837	233
Other comprehensive income	(848)	(2,495)
Other	(779)	47
Deferred tax liability, Ending Balance	(31,960)	(29,483)
Deferred tax liability (asset)	(8,371)	(121)
Deferred tax asset	7,815	12,426
Deferred tax liability	(16,186)	(12,547)
Decommissioning and other provisions
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax asset, Beginning balance	6,562	6,567
(Charge)/credit to income	(217)	63
Currency translation differences	(303)	(64)
Other comprehensive income	0	(3)
Other	7	(1)
Deferred tax asset, Ending balance	6,049	6,562
Property, plant and equipment
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax asset, Beginning balance	4,993	5,232
(Charge)/credit to income	(1,261)	(163)
Currency translation differences	(63)	(75)
Other comprehensive income	0	0
Other	621	(1)
Deferred tax asset, Ending balance	4,290	4,993
Deferred tax liability, Beginning Balance	(23,144)	(23,801)
(Charge)/credit to income	(1,503)	566
Currency translation differences	380	71
Other comprehensive income	4	(18)
Other	(555)	38
Deferred tax liability, Ending Balance	(24,818)	(23,144)
Tax losses and credits carried forward
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax asset, Beginning balance	10,518	12,496
(Charge)/credit to income	(3,434)	(1,669)
Currency translation differences	(426)	(252)
Other comprehensive income	18	64
Other	(230)	(121)
Deferred tax asset, Ending balance	6,446	10,518
Retirement benefits
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax asset, Beginning balance	2,744	3,774
(Charge)/credit to income	(66)	(537)
Currency translation differences	(40)	(72)
Other comprehensive income	(618)	(435)
Other	(43)	14
Deferred tax asset, Ending balance	1,977	2,744
Deferred tax liability, Beginning Balance	(2,736)	(673)
(Charge)/credit to income	93	319
Currency translation differences	287	114
Other comprehensive income	(870)	(2,481)
Other	37	(15)
Deferred tax liability, Ending Balance	(3,189)	(2,736)
Other
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax asset, Beginning balance	4,545	5,084
(Charge)/credit to income	160	(395)
Currency translation differences	(109)	(46)
Other comprehensive income	70	(74)
Other	161	(24)
Deferred tax asset, Ending balance	4,827	4,545
Deferred tax liability, Beginning Balance	(3,603)	(2,831)
(Charge)/credit to income	(277)	(848)
Currency translation differences	170	48
Other comprehensive income	18	4
Other	(261)	24
Deferred tax liability, Ending Balance	$ (3,953)	$ (3,603)

Emissions schemes and related environmental plans (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Disclosure Of Emissions And Related Environmental Schemes [Line Items]

Cost of Environmental Schemes and Related Environmental Plans

$ 4,005

$ 3,395

$ 1,651

^[1]

9,773

^[1]

9,662

9,773

(10,059)

(9,617)

Disclosure Of Emissions And Related Environmental Schemes [Line Items]

(3,148)

(1,675)

Emissions instruments

2,747

1,013

2,338

3,147

(2,796)

(1,224)

(88)

(189)

2,201

2,747

1,013

(4,232)

(3,805)

(1,993)

(478)

(211)

(60)

(4,710)

(4,016)

(2,053)

Additions covered by government grants

(4,790)

(4,024)

776

456

3,247

1,396

209

Disclosure Of Emissions And Related Environmental Schemes [Line Items]

(694)

(1,963)

ETS and related schemes

Cost of Environmental Schemes and Related Environmental Plans

493

331

150

284

157

385

292

(256)

(115)

(50)

440

284

157

(458)

(270)

(154)

(458)

(270)

(154)

Additions covered by government grants

(1,237)

(781)

776

456

292

150

(19)

Disclosure Of Emissions And Related Environmental Schemes [Line Items]

(188)

(116)

Biofuels

Cost of Environmental Schemes and Related Environmental Plans

2,918

2,609

1,137

2,362

780

1,485

2,450

(2,142)

(754)

(104)

(114)

1,601

2,362

780

(3,424)

(3,262)

(1,549)

(422)

(182)

(54)

(3,846)

(3,444)

(1,603)

(2,916)

(2,756)

2,456

755

160

Disclosure Of Emissions And Related Environmental Schemes [Line Items]

(402)

(1,841)

Renewable power

Cost of Environmental Schemes and Related Environmental Plans

594

455

364

101

468

405

(398)

(355)

(11)

(25)

160

101

(350)

(273)

(290)

(56)

(29)

(6)

(406)

(302)

$ (296)

(637)

(487)

499

491

(10)

Disclosure of detailed information about intangible assets [line items]

$ (104)

$ (6)

[1]	Goodwill, previously presented under Intangible assets, is separately presented as from 2022. Prior period comparatives have been revised to conform with current year presentation.

Auditor's remuneration - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Analysis of income and expense [abstract]
Remuneration for audit services to retirement benefit plans for employees of subsidiaries	$ 1	$ 1	$ 1

Financial instruments - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of risk management strategy related to hedge accounting [line items]
Increase in interest rate risk	1.00%
Foreign exchange risk management	10.00%
Percentage of value at risk statistical assessment	95.00%
Net (losses) gains on derivative contracts excluding realized commodity contracts, before tax	$ (1,331)	$ 8,377	$ (3,295)
Hedging instrument, liability	27,342	17,198
Unrealized net (losses) gains related to assets and liabilities	449	(175)
Commodity price risk
Disclosure of risk management strategy related to hedge accounting [line items]
Gain due to a 50% increase or decrease in derivative contracts	$ 2,700	300
Credit risk
Disclosure of risk management strategy related to hedge accounting [line items]
Credit exposure	25.00%
Cash flow hedges \| Foreign exchange risk \| Forward foreign exchange contracts
Disclosure of risk management strategy related to hedge accounting [line items]
Hedging instrument, liability	$ 828	173
Fair value hedges \| Interest rate and currency swaps
Disclosure of risk management strategy related to hedge accounting [line items]
Hedging instrument, liability	2,191	250
Hedges of net investment in foreign operations \| Foreign exchange risk
Disclosure of risk management strategy related to hedge accounting [line items]
Hedging instrument, liability	3,000	3,000
Trade payables
Disclosure of risk management strategy related to hedge accounting [line items]
Carrying amount of collateral held	1,648	1,909
Trade receivables
Disclosure of risk management strategy related to hedge accounting [line items]
Carrying amount of financial assets pledged as collateral for liabilities or contingent liabilities	11,133	6,968
Floating interest rate
Disclosure of risk management strategy related to hedge accounting [line items]
Increase in income before taxation if there were a 1% increase in interest rates	$ 234	$ 174

Label	Element	Value
Joint ventures [member] \| Oil Products Segment [Member]
Percentage of entity's revenue	ifrs-full_PercentageOfEntitysRevenue	29.00%
Percentage of entity's revenue	ifrs-full_PercentageOfEntitysRevenue	26.00%
Percent Of Entity's Purchases	shel_PercentOfEntitysPurchases	16.00%
Percent Of Entity's Purchases	shel_PercentOfEntitysPurchases	16.00%

Goodwill and other intangible assets - Narrative (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Disclosure of detailed information about intangible assets [line items]

^[1]

$ 16,039

$ 14,920

Cost

17,557

16,117

$ 15,101

Disclosure of detailed information about intangible assets [line items]

1,954

$ 1,546

Integrated Gas

Disclosure of detailed information about intangible assets [line items]

4,900

Upstream

Disclosure of detailed information about intangible assets [line items]

5,300

Marketing

Disclosure of detailed information about intangible assets [line items]

3,300

Marketing

Renewables and Energy Solutions

1,178

Disclosure of detailed information about intangible assets [line items]

BG Group Plc | Integrated Gas

775

Disclosure of detailed information about intangible assets [line items]

Disclosure of detailed information about intangible assets [line items]

4,945

BG Group Plc | Upstream

Disclosure of detailed information about intangible assets [line items]

5,294

BG Group Plc | Marketing

$ 1,714

[1]	Goodwill, previously presented under Intangible assets, is separately presented as from 2022. Prior period comparatives have been revised to conform with current year presentation.

Investments in securities - Summary of Investments in Securities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Investments In Securities [Line Items]
Investments in securities	$ 3,362	$ 3,797
At fair value
Disclosure Of Investments In Securities [Line Items]
Investments in securities	3,341	3,793
At fair value \| Measured by reference to prices in active markets for identical assets
Disclosure Of Investments In Securities [Line Items]
Investments in securities	1,884	1,909
At fair value \| Measured by reference to other observable inputs
Disclosure Of Investments In Securities [Line Items]
Investments in securities	158	177
At fair value \| Measured using predominantly unobservable inputs
Disclosure Of Investments In Securities [Line Items]
Investments in securities	1,299	1,707
At cost
Disclosure Of Investments In Securities [Line Items]
Investments in securities	21	4
Equity securities
Disclosure Of Investments In Securities [Line Items]
Investments in securities	1,533	1,710
Equity securities at fair value through other comprehensive income	1,533	1,710
Debt securities
Disclosure Of Investments In Securities [Line Items]
Investments in securities	1,829	2,087
Equity securities at fair value through other comprehensive income	1,308	1,306
Debt securities at amortised cost	21	4
Debt securities at fair value through profit or loss	$ 500	$ 777

Employees (Tables)

12 Months Ended

Dec. 31, 2022

Summary of Employee Costs


	$ million
	2022	2021	2020
Remuneration	10,509	9,038	9,128
Social security contributions	860	819	793
Retirement benefits (see Note 23)	1,795	1,696	1,851
Share-based compensation (see Note 27)	807	539	359
Total [A]	13,971	12,092	12,131

[A]Excludes employees seconded to joint ventures and associates.

Summary of Average Employee Numbers


	Thousand
	2022	2021	2020
Integrated Gas	6	6	6
Upstream	12	13	15
Marketing	17	14	15
Chemicals and Products	21	22	23
Renewables and Energy Solutions	4	3	3
Corporate	27	25	25
- of which Shell Business Service Centre (SBSC)	20	19	18
Total [B]	87	83	87

[A]Employee numbers, including comparatives, have been updated from full time equivalents (FTE) to headcount.

[B]Excludes employees seconded to joint ventures and associates (2022: 2,000 employees; 2021: 2,000 employees; 2020: 2,000 employees).

Joint ventures and associates - Summary of Transactions With Joint Ventures and Associates (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Interests In Other Entities [Abstract]
Sales and charges to joint ventures and associates	$ 12,230	$ 8,509	$ 5,426
Purchases and charges from joint ventures and associates	$ 22,286	$ 13,584	$ 8,262

Taxation - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Taxation - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2022	Jun. 30, 2021
Disclosure Of Income Taxes [Line Items]
Taxation charge/(credit)	$ 21,941	$ 9,199	$ (5,433)
Deferred tax expense (income) relating to tax rate changes or imposition of new taxes	785	$ 10	$ (16)
Current tax charge from EU SC levy	528
Share of income from equity accounted investments related to EU SC levy	$ 940
Weighted average of statutory tax rates	36.00%	39.00%	29.00%
Deferred tax asset	$ 7,815	$ 12,426
Planning horizon	10 years
Deferred tax assets dependent on future taxable profits	$ 4,202	10,195
Unrecognised taxable temporary differences associated with undistributed retained earnings of investments in subsidiaries, joint ventures and associates	5,521	5,680
Unrecognised deductible temporary differences, unused tax losses and credits carried forward	32,491	37,410
Unrecognised deductible temporary differences, unused tax losses and credits carried forward that are subject to time limits for utilisation of five years or later or are not time limited	28,199	31,349
Marketing
Disclosure Of Income Taxes [Line Items]
Deferred tax asset	382	854
Nigeria
Disclosure Of Income Taxes [Line Items]
Taxation charge/(credit)	543	628
Brazil, Malaysia and Australia
Disclosure Of Income Taxes [Line Items]
Deferred tax asset	$ 303	$ 711
Australia
Disclosure Of Income Taxes [Line Items]
Unused tax losses for which no deferred tax asset recognised				$ 43,832	$ 42,511

Financial instruments - Schedule of Value at Risk Pre-tax (Details) - Commodity price risk - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Global oil
Disclosure of risk management strategy related to hedge accounting [line items]
Value at risk	$ 56	$ 30
Global oil \| Average
Disclosure of risk management strategy related to hedge accounting [line items]
Value at risk	72	26
North America gas and power
Disclosure of risk management strategy related to hedge accounting [line items]
Value at risk	23	15
North America gas and power \| Average
Disclosure of risk management strategy related to hedge accounting [line items]
Value at risk	18	12
Europe gas and power
Disclosure of risk management strategy related to hedge accounting [line items]
Value at risk	40	13
Europe gas and power \| Average
Disclosure of risk management strategy related to hedge accounting [line items]
Value at risk	54	11
Environmental certificates
Disclosure of risk management strategy related to hedge accounting [line items]
Value at risk	13	10
Environmental certificates \| Average
Disclosure of risk management strategy related to hedge accounting [line items]
Value at risk	10	8
Australia gas and power
Disclosure of risk management strategy related to hedge accounting [line items]
Value at risk	12	6
Australia gas and power \| Average
Disclosure of risk management strategy related to hedge accounting [line items]
Value at risk	$ 12	$ 8

Auditor's remuneration - Summary of Auditor's Remuneration (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Analysis of income and expense [abstract]
Fees in respect of the audit of the Consolidated and Parent Company Financial Statements, including audit of consolidation returns	$ 45	$ 39	$ 36
Other audit fees, principally in respect of audits of accounts of subsidiaries	18	18	17
Total audit fees	63	57	53
Audit-related fees	3	3	3
Fees in respect of other non-audit services	3	3	2
Total	$ 69	$ 63	$ 58

Segment information - Information by Segment on Current Cost of Supplies Basis (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of operating segments [line items]
Revenue	$ 381,314	$ 261,504	$ 180,543
Share of profit/(loss) of joint ventures and associates (CCS basis)	3,930	3,913	1,842
Interest and other income, of which:	915	7,056	869
Interest income	1,046	511	679
Net gains on sale and revaluation of non-current assets and businesses	642	5,995	286
Other	(773)	550	(96)
Production and manufacturing expenses	25,518	23,822	24,001
Selling, distribution and administrative expenses	12,883	11,328	9,881
Research and development expenses	1,075	815	907
Exploration expenses	1,712	1,423	1,747
Depreciation, depletion and amortisation charge, of which:	18,529	26,921	52,444
Interest expense	3,181	3,607	4,089
Taxation charge/(credit) (CCS basis)	21,497	8,391	(4,848)
Other revenue	11,708	126	10,008
Impairment losses on property, plant and equipment	1,799	3,894	26,676
Impairment loss recognised in profit or loss, goodwill	361	167	276
Impairment losses on intangible assets	153		511
Purchase contract
Disclosure of operating segments [line items]
Reversal of losses (gains) on sales contracts	(7,201)	(4,892)	539
Sales contract
Disclosure of operating segments [line items]
Reversal of losses (gains) on sales contracts	9,815	4,824	(1,136)
CCS earnings
Disclosure of operating segments [line items]
Taxation charge/(credit) (CCS basis)	(444)	(808)	585
CCS earnings	41,562	17,482	(19,701)
Inter-segment
Disclosure of operating segments [line items]
Revenue	80,778	50,680	28,182
Operating segments
Disclosure of operating segments [line items]
Third-party and inter-segment purchases (CCS basis)	340,980	229,364	142,916
Production and manufacturing expenses	25,518	23,822	24,001
Selling, distribution and administrative expenses	12,883	11,328	9,881
Research and development expenses	1,075	815	907
Exploration expenses	1,712	1,423	1,747
Depreciation, depletion and amortisation charge, of which:	18,529	26,921	52,444
Impairment losses	2,313	4,065	27,463
Impairment reversals	(6,177)	(214)
Interest expense	3,181	3,607	4,089
Integrated Gas
Disclosure of operating segments [line items]
Revenue	54,751	29,922	20,865
Share of profit/(loss) of joint ventures and associates (CCS basis)	1,219	1,933	612
Interest and other income, of which:	(714)	1,596	212
Interest income	43	0	0
Net gains on sale and revaluation of non-current assets and businesses	101	1,610	212
Other	(858)	(14)	0
Taxation charge/(credit) (CCS basis)	5,899	2,648	(2,794)
Integrated Gas \| CCS earnings
Disclosure of operating segments [line items]
CCS earnings	22,212	8,060	(7,230)
Integrated Gas \| Inter-segment
Disclosure of operating segments [line items]
Revenue	18,412	8,072	4,357
Integrated Gas \| Operating segments
Disclosure of operating segments [line items]
Third-party and inter-segment purchases (CCS basis)	37,785	20,188	10,961
Production and manufacturing expenses	4,907	4,194	4,957
Selling, distribution and administrative expenses	218	231	60
Research and development expenses	112	101	84
Exploration expenses	240	122	616
Depreciation, depletion and amortisation charge, of which:	2,211	5,908	19,314
Impairment losses	115	723	13,464
Impairment reversals	(3,449)	(204)
Interest expense	84	71	78
Upstream
Disclosure of operating segments [line items]
Revenue	8,352	9,182	6,743
Share of profit/(loss) of joint ventures and associates (CCS basis)	2,111	632	(7)
Interest and other income, of which:	726	4,592	541
Interest income	22	37	56
Net gains on sale and revaluation of non-current assets and businesses	437	4,130	54
Other	267	425	431
Taxation charge/(credit) (CCS basis)	14,070	6,057	(103)
Impairment losses on property, plant and equipment	320
Upstream \| CCS earnings
Disclosure of operating segments [line items]
CCS earnings	16,222	9,603	(9,300)
Upstream \| Inter-segment
Disclosure of operating segments [line items]
Revenue	52,285	35,789	21,020
Upstream \| Operating segments
Disclosure of operating segments [line items]
Third-party and inter-segment purchases (CCS basis)	10,666	9,094	4,471
Production and manufacturing expenses	9,676	9,797	10,195
Selling, distribution and administrative expenses	233	186	(31)
Research and development expenses	456	339	486
Exploration expenses	1,472	1,301	1,131
Depreciation, depletion and amortisation charge, of which:	10,334	13,485	21,079
Impairment losses	950	920	7,274
Impairment reversals	(2,504)	(9)
Interest expense	345	333	369
Marketing
Disclosure of operating segments [line items]
Revenue	120,638	83,494	55,845
Share of profit/(loss) of joint ventures and associates (CCS basis)	237	385	491
Interest and other income, of which:	(104)	278	143
Interest income	0	3	4
Net gains on sale and revaluation of non-current assets and businesses	(186)	285	117
Other	82	(10)	22
Taxation charge/(credit) (CCS basis)	903	903	846
Marketing \| CCS earnings
Disclosure of operating segments [line items]
CCS earnings	2,133	3,535	4,081
Marketing \| Inter-segment
Disclosure of operating segments [line items]
Revenue	606	254	152
Marketing \| Operating segments
Disclosure of operating segments [line items]
Third-party and inter-segment purchases (CCS basis)	108,012	70,745	43,856
Production and manufacturing expenses	810	950	779
Selling, distribution and administrative expenses	7,351	6,384	5,380
Research and development expenses	222	167	147
Exploration expenses	0	0	0
Depreciation, depletion and amortisation charge, of which:	1,900	1,700	1,499
Impairment losses	480	129	44
Impairment reversals	(151)	(1)
Interest expense	46	27	43
Chemicals and Products
Disclosure of operating segments [line items]
Revenue	144,342	116,448	84,657
Share of profit/(loss) of joint ventures and associates (CCS basis)	374	989	1,064
Interest and other income, of which:	244	37	(236)
Interest income	24	36	25
Net gains on sale and revaluation of non-current assets and businesses	282	(24)	(129)
Other	(62)	25	(132)
Taxation charge/(credit) (CCS basis)	935	(210)	(1,754)
Impairment losses on property, plant and equipment	257
Chemicals and Products \| CCS earnings
Disclosure of operating segments [line items]
CCS earnings	4,515	404	(3,821)
Chemicals and Products \| Inter-segment
Disclosure of operating segments [line items]
Revenue	2,684	1,890	1,056
Chemicals and Products \| Operating segments
Disclosure of operating segments [line items]
Third-party and inter-segment purchases (CCS basis)	127,521	103,294	71,490
Production and manufacturing expenses	7,583	6,815	6,952
Selling, distribution and administrative expenses	3,592	3,375	3,391
Research and development expenses	187	157	171
Exploration expenses	0	0	0
Depreciation, depletion and amortisation charge, of which:	3,289	5,485	10,096
Impairment losses	356	2,248	6,492
Impairment reversals	(73)	0
Interest expense	22	44	16
Renewables and Energy Solutions
Disclosure of operating segments [line items]
Revenue	53,190	22,415	12,382
Share of profit/(loss) of joint ventures and associates (CCS basis)	(7)	(27)	(50)
Interest and other income, of which:	57	200	(197)
Interest income	(2)	4	5
Net gains on sale and revaluation of non-current assets and businesses	8	(6)	8
Other	51	202	(210)
Taxation charge/(credit) (CCS basis)	(303)	(342)	(61)
Renewables and Energy Solutions \| CCS earnings
Disclosure of operating segments [line items]
CCS earnings	(1,059)	(1,514)	(479)
Renewables and Energy Solutions \| Inter-segment
Disclosure of operating segments [line items]
Revenue	6,791	4,675	1,597
Renewables and Energy Solutions \| Operating segments
Disclosure of operating segments [line items]
Third-party and inter-segment purchases (CCS basis)	57,024	26,048	12,129
Production and manufacturing expenses	2,520	2,098	1,091
Selling, distribution and administrative expenses	972	596	606
Research and development expenses	98	51	19
Exploration expenses	0	0	0
Depreciation, depletion and amortisation charge, of which:	777	326	424
Impairment losses	412	45	180
Impairment reversals	0	0
Interest expense	2	0	3
Corporate
Disclosure of operating segments [line items]
Revenue	41	43	51
Share of profit/(loss) of joint ventures and associates (CCS basis)	(4)	1	(268)
Interest and other income, of which:	706	353	406
Interest income	959	431	589
Net gains on sale and revaluation of non-current assets and businesses	0	0	24
Other	(253)	(78)	(207)
Taxation charge/(credit) (CCS basis)	(7)	(665)	(982)
Corporate \| CCS earnings
Disclosure of operating segments [line items]
CCS earnings	(2,461)	(2,606)	(2,952)
Corporate \| Inter-segment
Disclosure of operating segments [line items]
Revenue	0	0	0
Corporate \| Operating segments
Disclosure of operating segments [line items]
Third-party and inter-segment purchases (CCS basis)	(28)	(5)	9
Production and manufacturing expenses	22	(32)	27
Selling, distribution and administrative expenses	517	556	475
Research and development expenses	0	0	0
Exploration expenses	0	0	0
Depreciation, depletion and amortisation charge, of which:	18	17	32
Impairment losses	0	0	9
Impairment reversals	0	0
Interest expense	$ 2,682	$ 3,132	$ 3,580

Leases

12 Months Ended

Dec. 31, 2022

Presentation of leases for lessee [abstract]

Leases

Shell has lease contracts in Integrated Gas and Upstream, principally for floating production storage and offloading units, subsea equipment, drilling and ancillary equipment, service vessels, LNG vessels and land and buildings; in Marketing, principally for land and retail sites; in Chemicals and Products, principally for plant pipeline and machinery, tankers and storage capacity; in Renewables and Energy Solutions, principally for power generation, storage capacity and land; and in Corporate, principally for land and buildings. Shell’s obligations under its leases are secured on the leased assets.

Right-of-use assets

Right-of-use assets are included in property, plant and equipment for the following amounts:


2022


	$ million
	Exploration and production		Manufacturing, supply and distribution
	Exploration and evaluation	Production		Other [B]	Total
Cost
At January 1	5	14,322	15,748	8,031	38,106
Additions	—	1,088	2,305	2,111	5,504
Sales, retirements and other movements [A]	(5)	(569)	(1,530)	319	(1,785)
Currency translation differences	—	(166)	(60)	(562)	(788)
At December 31	—	14,675	16,463	9,899	41,037
Depreciation, depletion and amortisation, including impairments
At January 1	—	7,935	5,946	2,273	16,154
Charge for the year	—	1,182	2,223	797	4,202
Sales, retirements and other movements [A]	—	(751)	(1,444)	23	(2,172)
Currency translation differences	—	(91)	(30)	(143)	(264)
At December 31	—	8,275	6,695	2,950	17,920
Carrying amount at December 31	—	6,400	9,768	6,949	23,117

[A]Includes the reclassification of right-of-use assets to assets held for sale. (See Note 18).

[B]"Other" mainly includes lease contracts for retail sites, land and buildings in Marketing, Renewables and Energy Solutions and Corporate.


2021


	$ million
	Exploration and production		Manufacturing, supply and distribution
	Exploration and evaluation	Production		Other [A]	Total
Cost


At January 1	5	14,440	14,526	7,384	36,355
Additions	—	311	2,149	1,420	3,880
Sales, retirements and other movements	—	(365)	(868)	(259)	(1,492)
Currency translation differences	—	(64)	(59)	(514)	(637)
At December 31	5	14,322	15,748	8,031	38,106
Depreciation, depletion and amortisation, including impairments
At January 1	—	6,997	5,013	1,793	13,803
Charge for the year	—	1,373	2,060	783	4,216
Sales, retirements and other movements	—	(400)	(1,093)	(157)	(1,650)
Currency translation differences	—	(35)	(34)	(146)	(215)
At December 31	—	7,935	5,946	2,273	16,154
Carrying amount at December 31	5	6,387	9,802	5,758	21,952

[A]Includes the reclassification of right-of-use assets to assets held for sale. (See Note 18).

[B]"Other" mainly includes lease contracts for retail sites, land and buildings in Marketing, Renewables and Energy Solutions and Corporate.

21. Leases continued

Lease arrangements

Lease liabilities are secured on the leased assets.


Lease expenses not included in the measurement of lease liability


		$ million
	2022	2021
Expense relating to short-term leases	552	644
Expense relating to variable lease payments	1,251	1,172

The total cash outflow in respect of leases representing repayment of principal and payment of interest in 2022 was $6,280 million (2021: $6,777 million), recognised in the Consolidated Statement of Cash Flows within Cash flows from financing activities.

The future lease payments under lease contracts and the carrying amounts at December 31, by payment date are as follows:


2022


	$ million
	Contractual lease payments		Interest	Lease liabilities
Less than 1 year	5,914		1,533	4,381
Between 1 and 5 years	15,624		4,655	10,969
5 years and later	17,935		5,642	12,293
Total	39,473	[A]	11,830	27,643


2021


	$ million
	Contractual lease payments	Interest	Lease liabilities
Less than 1 year	5,805	1,667	4,138
Between 1 and 5 years	15,889	4,972	10,917
5 years and later	18,309	5,857	12,452
Total	40,003	12,496	27,507

Employees

12 Months Ended

Dec. 31, 2022

Interests In Other Entities [Abstract]

Employees


Employee costs


	$ million
	2022	2021	2020
Remuneration	10,509	9,038	9,128
Social security contributions	860	819	793
Retirement benefits (see Note 23)	1,795	1,696	1,851
Share-based compensation (see Note 27)	807	539	359
Total [A]	13,971	12,092	12,131

[A]Excludes employees seconded to joint ventures and associates.


Average employee numbers [A]


	Thousand
	2022	2021	2020
Integrated Gas	6	6	6
Upstream	12	13	15
Marketing	17	14	15
Chemicals and Products	21	22	23
Renewables and Energy Solutions	4	3	3
Corporate	27	25	25
- of which Shell Business Service Centre (SBSC)	20	19	18
Total [B]	87	83	87

[A]Employee numbers, including comparatives, have been updated from full time equivalents (FTE) to headcount.

[B]Excludes employees seconded to joint ventures and associates (2022: 2,000 employees; 2021: 2,000 employees; 2020: 2,000 employees).

Joint ventures and associates (Tables)

12 Months Ended

Dec. 31, 2022

Summary of Shell Share of Comprehensive Income of Joint Ventures and Associates


									$ million
	2022				2021				2020
	Joint ventures	Associates		Total	[A]	Joint ventures	Associates	Total		Joint ventures	Associates	Total
Income for the period	2,589	1,383	[A]	3,972	[A]	1,955	2,142	4,097		629	1,154	1,783
Other comprehensive income/(loss) for the period	21	—		21		(106)	—	(106)		76	1	77
Comprehensive income for the period	2,610	1,383		3,993		1,849	2,142	3,991		705	1,155	1,860

[A]Includes an impairment charge of $1,614 million related to Sakhalin-2. (See Note 6).

Summary of Carrying Amount of Interests in Joint Ventures and Associates

$ million

Dec 31, 2022

Dec 31, 2021

Joint
ventures

Associates

Total

Joint
ventures

Associates

Total

Net assets

17,056

6,808

23,864

15,767

7,648

23,415

Summary of Transactions with Joint Ventures and Associates


	$ million
	2022 [A]	2021 [A]	2020
Sales and charges to joint ventures and associates	12,230	8,509	5,426
Purchases and charges from joint ventures and associates	22,286	13,584	8,262

[A]Includes 29% (2021: 26%) of sales and 16% (2021: 16%) purchases in transactions with one joint venture operating in the oil trading business.

Summary of Other Arrangements in Respect of Joint Ventures and Associates


	$ million
	Dec 31, 2022	Dec 31, 2021
Commitments to make purchases from joint ventures and associates [A]	1,234	1,437
Commitments to provide debt or equity funding to joint ventures and associates	567	533

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (Parenthetical) $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($)
Comprehensive loss	$ 23,093
Retained earnings
Comprehensive loss	$ 21,397

Segment information - Summary of Information by Geographical Area (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of geographical areas [line items]
Third-party revenue, by origin	$ 381,314	$ 261,504	$ 180,543
Goodwill, other intangible assets, property, plant and equipment, joint ventures and associates at December 31	248,207	243,040	254,861
European Union
Disclosure of geographical areas [line items]
Third-party revenue, by origin	135,975	78,549	50,138
Goodwill, other intangible assets, property, plant and equipment, joint ventures and associates at December 31	40,161	38,881	38,785
Asia, Oceania, Africa
Disclosure of geographical areas [line items]
Third-party revenue, by origin	126,643	87,070	65,139
Goodwill, other intangible assets, property, plant and equipment, joint ventures and associates at December 31	97,019	97,278	103,191
USA
Disclosure of geographical areas [line items]
Third-party revenue, by origin	87,085	73,647	50,856
Goodwill, other intangible assets, property, plant and equipment, joint ventures and associates at December 31	59,233	58,286	62,976
Other Americas
Disclosure of geographical areas [line items]
Third-party revenue, by origin	31,611	22,238	14,410
Goodwill, other intangible assets, property, plant and equipment, joint ventures and associates at December 31	51,794	48,595	49,909
UK
Disclosure of geographical areas [line items]
Third-party revenue, by origin	50,236	21,846	12,958
Goodwill, other intangible assets, property, plant and equipment, joint ventures and associates at December 31	$ 20,772	$ 21,974	$ 23,302

- Definition

The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Property, plant and equipment - Summary of Property Plant and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of changes in property, plant and equipment [abstract]
At January 1	$ 194,932
At December 31	198,642	$ 194,932
Integrated gas and Upstream
Reconciliation of changes in property, plant and equipment [abstract]
Write-downs (reversals of write-downs) of property, plant and equipment	6,177
Cost
Reconciliation of changes in property, plant and equipment [abstract]
At January 1	436,769	453,644
Additions	28,254	21,719
Sales, retirements and other movements	(19,800)	(33,081)
Currency translation differences	10,262	5,513
At December 31	434,961	436,769
Depreciation, depletion and amortisation, including impairments
Reconciliation of changes in property, plant and equipment [abstract]
At January 1	(241,837)	(243,944)
Charge for the year	17,310	25,993
Sales, retirements and other movements	16,422	24,453
Currency translation differences	(6,406)	(3,647)
At December 31	(236,319)	(241,837)
Carrying amount of exploration and evaluation assets
Reconciliation of changes in property, plant and equipment [abstract]
At January 1	7,099
At December 31	6,403	7,099
Carrying amount of exploration and evaluation assets \| Cost
Reconciliation of changes in property, plant and equipment [abstract]
At January 1	12,679	14,484
Additions	1,564	1,216
Sales, retirements and other movements	(2,469)	(3,014)
Currency translation differences	209	7
At December 31	11,565	12,679
Carrying amount of exploration and evaluation assets \| Depreciation, depletion and amortisation, including impairments
Reconciliation of changes in property, plant and equipment [abstract]
At January 1	(5,580)	(5,258)
Charge for the year	397	1,311
Sales, retirements and other movements	765	999
Currency translation differences	(50)	10
At December 31	(5,162)	(5,580)
Production
Reconciliation of changes in property, plant and equipment [abstract]
At January 1	118,373
At December 31	117,354	118,373
Production \| Cost
Reconciliation of changes in property, plant and equipment [abstract]
At January 1	285,903	298,882
Additions	11,954	8,942
Sales, retirements and other movements	(14,541)	(20,005)
Currency translation differences	6,300	1,916
At December 31	277,016	285,903
Production \| Depreciation, depletion and amortisation, including impairments
Reconciliation of changes in property, plant and equipment [abstract]
At January 1	(167,530)	(167,711)
Charge for the year	9,709	15,800
Sales, retirements and other movements	13,207	14,590
Currency translation differences	(4,370)	(1,391)
At December 31	(159,662)	(167,530)
Manufacturing, supply and distribution
Reconciliation of changes in property, plant and equipment [abstract]
At January 1	49,051
At December 31	49,884	49,051
Manufacturing, supply and distribution \| Cost
Reconciliation of changes in property, plant and equipment [abstract]
At January 1	104,182	107,876
Additions	6,928	7,917
Sales, retirements and other movements	(2,548)	(9,607)
Currency translation differences	1,777	2,004
At December 31	106,785	104,182
Manufacturing, supply and distribution \| Depreciation, depletion and amortisation, including impairments
Reconciliation of changes in property, plant and equipment [abstract]
At January 1	(55,131)	(58,242)
Charge for the year	5,149	7,112
Sales, retirements and other movements	2,054	8,624
Currency translation differences	(1,325)	(1,599)
At December 31	(56,901)	(55,131)
Other
Reconciliation of changes in property, plant and equipment [abstract]
At January 1	20,409
At December 31	25,001	20,409
Other \| Cost
Reconciliation of changes in property, plant and equipment [abstract]
At January 1	34,005	32,402
Additions	7,808	3,644
Sales, retirements and other movements	(242)	(455)
Currency translation differences	1,976	1,586
At December 31	39,595	34,005
Other \| Depreciation, depletion and amortisation, including impairments
Reconciliation of changes in property, plant and equipment [abstract]
At January 1	(13,596)	(12,733)
Charge for the year	2,055	1,770
Sales, retirements and other movements	396	240
Currency translation differences	(661)	(667)
At December 31	$ (14,594)	$ (13,596)

Earnings per share (Tables)

12 Months Ended

Dec. 31, 2022

Earnings per share [abstract]

Schedule of Earnings Per Share


	2022	2021	2020
Income/(loss) attributable to Shell plc shareholders ($ million)	42,309	20,101	(21,680)

Weighted average number of shares used as the basis for determining:
Basic earnings per share (million of shares)	7,347.5	7,761.7	7,795.6
Diluted earnings per share (million of shares)	7,410.5	7,806.8	7,795.6

Joint ventures and associates - Summary of Carrying Amount of Interests in Joint Ventures and Associates (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Interests In Other Entities [Abstract]
Carrying amount of interests in joint ventures	$ 17,056	$ 15,767
Carrying amount of interests in associates	6,808	7,648
Joint ventures and associates	$ 23,864	$ 23,415

Debt - Schedule of Debt (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Debt [Line Items]
Current debt:	$ 9,001	$ 8,218
Short-term debt	1,026	515
Long-term debt due within 1 year	7,975	7,703
Non-current debt	74,794	80,868
Total	83,795	89,086
Debt (excluding lease liabilities)
Disclosure Of Debt [Line Items]
Current debt:	4,620	4,080
Short-term debt	1,026	515
Long-term debt due within 1 year	3,594	3,565
Non-current debt	51,532	57,499
Total	56,152	61,579
Lease liabilities
Disclosure Of Debt [Line Items]
Current debt:	4,381	4,138
Short-term debt	0	0
Long-term debt due within 1 year	4,381	4,138
Non-current debt	23,262	23,369
Total	$ 27,643	$ 27,507

Other reserves - Summary of Other Reserves Attributable to Royal Dutch Shell plc Shareholders (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Disclosure Of Accumulated Other Comprehensive Income Loss [Line Items]

Comprehensive income/(loss) attributable to Shell plc shareholders

$ 18,909

44,333

$ 26,235

$ (23,512)

(18,547)

^[1]

(3,513)

(1,214)

Disclosure Of Accumulated Other Comprehensive Income Loss [Line Items]

21,132

18,909

Total

Comprehensive income/(loss) attributable to Shell plc shareholders

18,909

12,752

14,451

2,024

6,134

(1,832)

(34)

(45)

270

^[1]

176

(143)

Disclosure Of Accumulated Other Comprehensive Income Loss [Line Items]

21,132

18,909

12,752

Merger reserve

37,298

Disclosure Of Accumulated Other Comprehensive Income Loss [Line Items]

37,298

Share premium reserve

154

Capital redemption reserve

154

Disclosure Of Accumulated Other Comprehensive Income Loss [Line Items]

139

129

123

Disclosure Of Accumulated Other Comprehensive Income Loss [Line Items]

196

139

129

Share plan reserve

964

906

1,049

176

(143)

Accumulated other comprehensive income

1,140

964

906

Disclosure Of Accumulated Other Comprehensive Income Loss [Line Items]

Comprehensive income/(loss) attributable to Shell plc shareholders

(19,646)

(25,735)

(24,173)

2,024

6,134

(1,832)

(34)

(45)

270

$ (17,656)

$ (19,646)

$ (25,735)

[1]	Includes shares committed to repurchase under irrevocable contracts and repurchases subject to settlement at the end of the year. (See Note 26)

Property, plant and equipment - Summary of Exploration Drilling Costs Capitalised for Periods Greater Than One Year (Details) $ in Millions	Dec. 31, 2022 USD ($) project well
Disclosure Of Detailed Information About Exploration And Evaluation Assets [Line Items]
Projects, number \| project	25
Projects, value	$ 1,812
Wells, number \| well	77
Wells, value	$ 1,812
Between 1 and 5 years
Disclosure Of Detailed Information About Exploration And Evaluation Assets [Line Items]
Projects, number \| project	11
Projects, value	$ 819
Wells, number \| well	24
Wells, value	$ 549
Between 6 and 10 years
Disclosure Of Detailed Information About Exploration And Evaluation Assets [Line Items]
Projects, number \| project	9
Projects, value	$ 797
Wells, number \| well	32
Wells, value	$ 848
Between 11 and 15 years
Disclosure Of Detailed Information About Exploration And Evaluation Assets [Line Items]
Projects, number \| project	1
Projects, value	$ 3
Wells, number \| well	10
Wells, value	$ 210
Between 16 and 20 years
Disclosure Of Detailed Information About Exploration And Evaluation Assets [Line Items]
Projects, number \| project	4
Projects, value	$ 193
Wells, number \| well	11
Wells, value	$ 205

Retirement benefits - Summary of Assumptions for Sensitivity Analysis (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Rate of increase in pensionable remuneration
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Percentage assumptions used	4.00%	3.40%
Range of assumptions, possible decrease	1.00%
Range of assumptions, possible increase	1.00%
Rate of increase in pensionable remuneration \| of which the Netherlands
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Percentage assumptions used	3.30%	2.80%
Rate of increase in pensionable remuneration \| of which UK
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Percentage assumptions used	4.10%	3.60%
Rate of increase in pensionable remuneration \| of which USA
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Percentage assumptions used	4.60%	4.10%
Rate of increase in pensionable remuneration \| Bottom of range
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Increase/(decrease) in defined benefit obligations	$ 833	$ 1,519
Rate of increase in pensionable remuneration \| Top of range
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Increase/(decrease) in defined benefit obligations	$ (921)	$ (1,672)
Rate of increase in pensions in payment
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Percentage assumptions used	2.10%	2.00%
Range of assumptions, possible decrease	1.00%
Range of assumptions, possible increase	1.00%
Rate of increase in pensions in payment \| of which the Netherlands
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Percentage assumptions used	2.60%	2.20%
Rate of increase in pensions in payment \| of which UK
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Percentage assumptions used	3.00%	3.00%
Rate of increase in pensions in payment \| of which USA
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Percentage assumptions used	0.00%	0.00%
Rate of increase in pensions in payment \| Bottom of range
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Increase/(decrease) in defined benefit obligations	$ 5,542	$ 9,908
Rate of increase in pensions in payment \| Top of range
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Increase/(decrease) in defined benefit obligations	$ (6,657)	$ (12,171)
Discount rate for pension plans
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Percentage assumptions used	4.50%	2.00%
Range of assumptions, possible decrease	1.00%
Range of assumptions, possible increase	1.00%
Discount rate for pension plans \| of which the Netherlands
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Percentage assumptions used	3.70%	1.20%
Discount rate for pension plans \| of which UK
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Percentage assumptions used	4.80%	1.90%
Discount rate for pension plans \| of which USA
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Percentage assumptions used	5.00%	2.90%
Discount rate for pension plans \| Bottom of range
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Increase/(decrease) in defined benefit obligations	$ (10,522)	$ (18,954)
Discount rate for pension plans \| Top of range
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Increase/(decrease) in defined benefit obligations	$ 8,328	$ 14,599
Inflation rate for defined benefit obligation
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Weighted average inflation rate used in the calculation of the defined benefit obligation	2.20%	2.10%
Range of assumptions, possible decrease	1.00%
Range of assumptions, possible increase	1.00%
Inflation rate for defined benefit obligation \| of which the Netherlands
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Weighted average inflation rate used in the calculation of the defined benefit obligation	2.60%	2.20%
Inflation rate for defined benefit obligation \| of which UK
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Weighted average inflation rate used in the calculation of the defined benefit obligation	3.10%	3.20%
Inflation rate for defined benefit obligation \| Bottom of range
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Increase/(decrease) in defined benefit obligations	$ 6,002	$ 10,691
Inflation rate for defined benefit obligation \| Top of range
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Increase/(decrease) in defined benefit obligations	$ (7,271)	$ (13,325)
Rate of increase in health-care costs
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Percentage assumptions used	6.40%	6.20%
Range of assumptions, possible decrease	1.00%
Range of assumptions, possible increase	1.00%
Rate of increase in health-care costs \| Bottom of range
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Increase/(decrease) in defined benefit obligations	$ 298	$ 513
Rate of increase in health-care costs \| Top of range
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Increase/(decrease) in defined benefit obligations	$ (372)	$ (630)
Discount rate for health-care plans
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Percentage assumptions used	5.70%	2.90%
Range of assumptions, possible decrease	1.00%
Range of assumptions, possible increase	1.00%
Discount rate for health-care plans \| Bottom of range
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Increase/(decrease) in defined benefit obligations	$ (401)	$ (678)
Discount rate for health-care plans \| Top of range
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Increase/(decrease) in defined benefit obligations	$ 309	$ 539
Men
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Expected age at death assumptions used	87 years	87 years
Range of assumptions, expected age at death decrease	1 year
Range of assumptions, expected age at death increase	1 year
Men \| of which the Netherlands
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Expected age at death assumptions used	88 years	88 years
Men \| of which UK
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Expected age at death assumptions used	87 years	88 years
Men \| of which USA
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Expected age at death assumptions used	85 years	85 years
Men \| Bottom of range
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Increase/(decrease) in defined benefit obligations	$ 1,130	$ 1,946
Men \| Top of range
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Increase/(decrease) in defined benefit obligations	$ (1,103)	$ (1,937)
Women
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Expected age at death assumptions used	89 years	89 years
Range of assumptions, expected age at death decrease	1 year
Range of assumptions, expected age at death increase	1 year
Women \| of which the Netherlands
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Expected age at death assumptions used	89 years	89 years
Women \| of which UK
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Expected age at death assumptions used	90 years	90 years
Women \| of which USA
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Expected age at death assumptions used	86 years	86 years
Women \| Bottom of range
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Increase/(decrease) in defined benefit obligations	$ 993	$ 1,863
Women \| Top of range
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Increase/(decrease) in defined benefit obligations	$ (1,077)	$ (1,972)

Financial instruments - Schedule of Carrying Amounts of Derivative Contracts Designated and Not Designated as Hedging Instruments for Hedge Accounting (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Disclosure of detailed information about hedging instruments [line items]
Assets Designated	$ 31	$ 526
Assets Not designated	24,988	11,658
Assets, Total	25,019	12,184
Liabilities Designated	3,094	884
Liabilities Not designated	24,248	16,314
Liabilities, Total	27,342	17,198
Net	(2,323)	(5,014)
Interest rate swaps
Disclosure of detailed information about hedging instruments [line items]
Assets Designated	0	237
Assets Not designated	1	0
Assets, Total	1	237
Liabilities Designated	169	24
Liabilities Not designated	0	14
Liabilities, Total	169	38
Net	(168)	199
Forward foreign exchange contracts
Disclosure of detailed information about hedging instruments [line items]
Assets Designated	0	0
Assets Not designated	907	456
Assets, Total	907	456
Liabilities Designated	0	0
Liabilities Not designated	996	280
Liabilities, Total	996	280
Net	(89)	176
Currency swaps and options
Disclosure of detailed information about hedging instruments [line items]
Assets Designated	31	277
Assets Not designated	24	22
Assets, Total	55	299
Liabilities Designated	2,925	860
Liabilities Not designated	5	33
Liabilities, Total	2,930	893
Net	(2,875)	(594)
Commodity derivatives
Disclosure of detailed information about hedging instruments [line items]
Assets Designated	0	12
Assets Not designated	23,676	10,979
Assets, Total	23,676	10,991
Liabilities Designated	0	0
Liabilities Not designated	22,858	15,732
Liabilities, Total	22,858	15,732
Net	818	(4,741)
Other contracts
Disclosure of detailed information about hedging instruments [line items]
Assets Designated	0	0
Assets Not designated	380	201
Assets, Total	380	201
Liabilities Designated	0	0
Liabilities Not designated	389	255
Liabilities, Total	389	255
Net	$ (9)	$ (54)

Share-based compensation plans and shares held in trust - Narrative (Details) - shares shares in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting period of share-based compensation	3 years
A Class Shares \| Shares held by employee share trusts
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of share options outstanding (in shares)		15.6
B Class Shares \| Shares held by employee share trusts
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of share options outstanding (in shares)		4.5
Ordinary shares \| Shares held by employee share trusts
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of share options outstanding (in shares)	23.9
A Class American Depositary Shares \| Shares held by employee share trusts
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of share options outstanding (in shares)	4.5	4.5
Bottom of range \| Share awards under PSP and LTIP
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting percentage of share-based compensation	0.00%
Top of range \| Share awards under PSP and LTIP
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting percentage of share-based compensation	200.00%

Debt

12 Months Ended

Dec. 31, 2022

Debt


Debt


	$ million
	Dec 31, 2022			Dec 31, 2021
	Debt (excluding lease liabilities)	Lease liabilities [A]	Total	Debt (excluding lease liabilities)	Lease liabilities [A]	Total
Current debt:	4,620	4,381	9,001	4,080	4,138	8,218
Short-term debt	1,026	—	1,026	515	—	515
Long-term debt due within 1 year	3,594	4,381	7,975	3,565	4,138	7,703
Non-current debt	51,532	23,262	74,794	57,499	23,369	80,868
Total	56,152	27,643	83,795	61,579	27,507	89,086

[A]Further analysis of lease liabilities is provided in Note 21.


Net debt


						$ million
	(Asset)/liability
	Current debt	Non-current debt		Derivative financial instruments	Cash and cash equivalents (see Note 17)	Net debt
At January 1, 2022	8,218	80,868		440	(36,970)	52,556
Cash flow	(7,618)	(254)		(1,799)	(4,012)	(13,683)
Lease additions [A]	1,111	4,077				5,188
Other movements	7,560	(7,883)		1,393	—	1,070
Currency translation differences and foreign exchange (gains)/losses	(270)	(2,014)		1,254	736	(294)
At December 31, 2022	9,001	74,794		1,288	(40,246)	44,837
At January 1, 2021	16,899	91,115		(798)	(31,830)	75,386
Cash flow	(17,887)	(1,842)	[B]	(1,165)	(5,679)	(26,573)
Lease additions [A]	899	2,889				3,788
Other movements	8,655	(9,034)		688	—	309
Currency translation differences and foreign exchange (gains)/losses	(348)	(2,260)		1,715	539	(354)
At December 31, 2021	8,218	80,868		440	(36,970)	52,556

[A]Further analysis of lease liabilities is provided in Note 21.

[B]Includes $3,500 million of early repayment of non-current debt.


Borrowing facilities and amounts undrawn

$ million

Facility

Amount undrawn

Dec 31, 2022

Dec 31, 2021

Dec 31, 2022

Dec 31, 2021

CP programmes

20,000

EMTN programme

unlimited

N/A

US shelf registration

unlimited

N/A

Committed credit facilities

9,920

20. Debt continued

Shell has access to international debt capital markets via two commercial paper (CP) programmes, a Euro medium-term note (EMTN) programme and a US universal shelf (US shelf) registration. Issuances under the CP programmes are supported by a committed credit facility and cash.

Under the CP programmes, Shell can issue debt of up to $10,000 million with maximum maturities ranging between 183 days and 364 days depending on the form of the notes issued; and $10,000 million with maturities not exceeding 397 days.

The EMTN programme is updated each year, most recently in September 2022. During 2022, no debt was issued under this programme
(2021: no debt issued).

The US shelf registration provides Shell with the flexibility to issue debt securities, ordinary shares, preferred shares and warrants. The registration is updated every three years and was last updated in March 2021. During 2022, no debt was issued under the US shelf registration (2021: $1,500 million).

On December 13, 2019, Shell refinanced its revolving credit facilities (RCF), which are linked to the Secured Overnight Financing Rate (SOFR), at pre-agreed margins. In December 2022, Shell renewed the short-dated tranche of the facility of $1,920 million to expire in 2023 (2021: expiring in 2022) with two further one year bank extension options, that would take final maturity to 2025. The additional RCF tranches are: $320 million expiring in 2025 (2021: expiring in 2025) and $7,680 million expiring in 2026 (2021: expiring in 2026), a total RCF of $9,920 million. The terms and availability are not conditional on Shell’s financial ratios nor its financial credit ratings. The interest and fees paid on these facilities are linked to Shell’s progress towards reaching its short-term Net Carbon Footprint intensity target.

The following tables compare contractual cash flows for debt excluding lease liabilities at December 31 with the carrying amount in the Consolidated Balance Sheet. Contractual amounts reflect the effects of changes in foreign exchange rates; differences from carrying amounts reflect the effects of discounting, premiums and, where fair value hedge accounting is applied, fair value adjustments. Interest is estimated assuming interest rates applicable to variable-rate debt remain constant and there is no change in aggregate principal amounts of debt other
than repayment at scheduled maturity, as reflected in the table.


2022


	$ million
	Contractual payments
	Less than 1 year	Between 1 and 2 years	Between 2 and 3 years	Between 3 and 4 years	Between 4 and 5 years	5 years and later	Total	Difference from carrying amount	Carrying amount

Bonds	3,365	4,184	6,054	3,817	2,400	35,005	54,825	(1,210)	53,615
Bank and other borrowings	1,229	335	64	156	63	704	2,551	(14)	2,537
Total (excluding interest)	4,594	4,519	6,118	3,973	2,463	35,709	57,376	(1,224)	56,152
Interest	1,669	1,574	1,463	1,314	1,233	14,757	22,010


2021


	$ million
	Contractual payments
	Less than 1 year	Between 1 and 2 years	Between 2 and 3 years	Between 3 and 4 years	Between 4 and 5 years	5 years and later	Total	Difference from carrying amount	Carrying amount

Bonds	3,423	3,376	4,362	6,310	3,882	38,327	59,680	578	60,258
Bank and other borrowings	646	452	36	9	143	35	1,321	—	1,321
Total (excluding interest)	4,069	3,828	4,398	6,319	4,025	38,362	61,001	578	61,579
Interest	1,637	1,587	1,524	1,416	1,268	15,642	23,074

Interest rate swaps have been entered into against certain fixed rate debt affecting the effective interest rate on these balances (see Note 25).
The fair value of debt excluding lease liabilities at December 31, 2022, was $51,959 million (2021: $67,066 million), mainly determined from
the prices quoted for those securities.

Climate change and energy transition - Carrying amounts of assets (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of Climate Change and Energy Transition [Line Items]
Fixed assets	$ 248,200
Property, plant and equipment	198,642	$ 194,932
Carrying amount of exploration and evaluation assets
Disclosure of Climate Change and Energy Transition [Line Items]
Fixed assets	6,000	7,000	$ 9,000	$ 15,000	$ 18,000	$ 19,000	$ 19,000
Property, plant and equipment	6,403	7,099					19,000
Refineries
Disclosure of Climate Change and Energy Transition [Line Items]
Property, plant and equipment	6,000	7,000	7,000	13,000	14,000	14,000	10,000
Refineries \| Assets classified as held for sale
Disclosure of Climate Change and Energy Transition [Line Items]
Property, plant and equipment		1,000
Production assets
Disclosure of Climate Change and Energy Transition [Line Items]
Fixed assets	117,000	118,000	132,000	150,000	149,000	154,000	169,000
Property, plant and equipment not subject to operating leases \| Refineries
Disclosure of Climate Change and Energy Transition [Line Items]
Property, plant and equipment		6,000
Property, plant and equipment not subject to operating leases \| Production assets
Disclosure of Climate Change and Energy Transition [Line Items]
Fixed assets	111,000	112,000	125,000	141,000
Right of use assets \| Production assets
Disclosure of Climate Change and Energy Transition [Line Items]
Fixed assets	6,000	6,000	7,000	9,000
Integrated Gas And Upstream Segments
Disclosure of Climate Change and Energy Transition [Line Items]
Fixed assets	163,000	166,000	185,000	212,000	214,000	222,000	231,000
Integrated Gas And Upstream Segments \| Production assets
Disclosure of Climate Change and Energy Transition [Line Items]
Property, plant and equipment	117,000						169,000
Integrated Gas
Disclosure of Climate Change and Energy Transition [Line Items]
Fixed assets	75,200	75,000	79,000	93,000	91,000	94,000	95,000
Property, plant and equipment	60,800
Upstream
Disclosure of Climate Change and Energy Transition [Line Items]
Fixed assets	87,700	91,000	106,000	119,000	123,000	128,000	136,000
Property, plant and equipment	74,500
Chemicals and Products
Disclosure of Climate Change and Energy Transition [Line Items]
Fixed assets	44,700	44,000	43,000	47,000	39,000	38,000	26,000
Property, plant and equipment	38,100
Chemicals and Products \| Refineries
Disclosure of Climate Change and Energy Transition [Line Items]
Fixed assets	6,000	6,000	7,000	13,000	14,000	14,000	10,000
Property, plant and equipment	6,000	6,000
Chemicals and Products \| Other
Disclosure of Climate Change and Energy Transition [Line Items]
Fixed assets	11,000	11,000	11,000	12,000	7,000	8,000	1,000
Chemicals and Products \| Chemicals
Disclosure of Climate Change and Energy Transition [Line Items]
Fixed assets	28,000	27,000	25,000	22,000	18,000	16,000	$ 15,000
Marketing
Disclosure of Climate Change and Energy Transition [Line Items]
Property, plant and equipment	29,000	25,000	23,000	20,000	15,000	15,000
Renewables and Energy Solutions
Disclosure of Climate Change and Energy Transition [Line Items]
Fixed assets	8,900	$ 5,000	$ 3,000	$ 3,000	$ 1,000	$ 1,000
Property, plant and equipment	$ 3,200

Interest and other income (Tables)

12 Months Ended

Dec. 31, 2022

Summary of Interest and Other Income


$ million
	2022	2021	2020
Interest income	1,046	511	679
Dividend income (from investments in equity securities)	216	91	22
Net gains on sale and revaluation of non-current assets and businesses	642	5,995	286
Net foreign exchange (losses)/gains on financing activities	(340)	118	(391)
Other	(649)	341	273
Total	915	7,056	869

Retirement benefits - Summary of Defined Benefit Plan Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of net defined benefit liability (asset) [line items]
At January 1	$ (2,854)
Return on plan assets in excess of interest income	20,612	$ (8,185)	$ (4,509)
Other movements	349	(5)	(7)
At December 31	2,904	(2,854)
Defined benefit plan assets
Disclosure of net defined benefit liability (asset) [line items]
At January 1	104,495	102,678
Return on plan assets in excess of interest income	(20,612)	8,185
Interest income	1,732	1,160
Employer contributions	731	937
Plan participants’ contributions	32	39
Benefit payments	(3,889)	(4,326)
Other movements	(58)	(47)
Currency translation differences	(5,675)	(4,131)
At December 31	76,756	104,495	102,678
Defined benefit plan assets \| The Netherlands
Disclosure of net defined benefit liability (asset) [line items]
At January 1	37,096	37,673
Return on plan assets in excess of interest income	(6,576)	3,199
Interest income	314	158
Employer contributions	228	170
Plan participants’ contributions	11	13
Benefit payments	(942)	(979)
Other movements	(9)	(6)
Currency translation differences	(2,136)	(3,132)
At December 31	27,986	37,096	37,673
Defined benefit plan assets \| UK
Disclosure of net defined benefit liability (asset) [line items]
At January 1	33,720	32,193
Return on plan assets in excess of interest income	(8,682)	2,575
Interest income	552	376
Employer contributions	54	266
Plan participants’ contributions	16	19
Benefit payments	(1,124)	(1,306)
Other movements	150	(13)
Currency translation differences	(2,723)	(390)
At December 31	21,963	33,720	32,193
Defined benefit plan assets \| USA
Disclosure of net defined benefit liability (asset) [line items]
At January 1	18,055	17,046
Return on plan assets in excess of interest income	(3,523)	1,377
Interest income	406	308
Employer contributions	408	559
Plan participants’ contributions	0	0
Benefit payments	(1,088)	(1,220)
Other movements	(15)	(15)
Currency translation differences	0	0
At December 31	14,243	18,055	17,046
Defined benefit plan assets \| Rest of the world
Disclosure of net defined benefit liability (asset) [line items]
At January 1	15,624	15,766
Return on plan assets in excess of interest income	(1,831)	1,034
Interest income	460	318
Employer contributions	41	(58)
Plan participants’ contributions	5	7
Benefit payments	(735)	(821)
Other movements	(184)	(13)
Currency translation differences	(816)	(609)
At December 31	12,564	15,624	$ 15,766
Contributions received from the captive structure in relation to the pension plans reinsurred		294
Defined benefit plan assets \| Germany
Disclosure of net defined benefit liability (asset) [line items]
At January 1	3,282
At December 31	2,538	3,282
Defined benefit plan assets \| Canada (Federal)
Disclosure of net defined benefit liability (asset) [line items]
At January 1	4,325
At December 31	$ 3,497	$ 4,325
Level 1 \| Equities
Disclosure of net defined benefit liability (asset) [line items]
Defined benefit plan asset allocation percentage	13.00%	22.00%
Level 1 \| Debt securities
Disclosure of net defined benefit liability (asset) [line items]
Defined benefit plan asset allocation percentage	70.00%	53.00%
Level 1 \| Real estate
Disclosure of net defined benefit liability (asset) [line items]
Defined benefit plan asset allocation percentage	0.00%	1.00%
Level 1 \| Other
Disclosure of net defined benefit liability (asset) [line items]
Defined benefit plan asset allocation percentage	1.00%	0.00%
Level 2 and 3
Disclosure of net defined benefit liability (asset) [line items]
Cash	4.00%	1.00%
Level 2 and 3 \| Equities
Disclosure of net defined benefit liability (asset) [line items]
Defined benefit plan asset allocation percentage	13.00%	10.00%
Level 2 and 3 \| Debt securities
Disclosure of net defined benefit liability (asset) [line items]
Defined benefit plan asset allocation percentage	2.00%	4.00%
Level 2 and 3 \| Real estate
Disclosure of net defined benefit liability (asset) [line items]
Defined benefit plan asset allocation percentage	7.00%	6.00%
Level 2 and 3 \| Investment funds
Disclosure of net defined benefit liability (asset) [line items]
Defined benefit plan asset allocation percentage	4.00%	3.00%
Level 2 and 3 \| Debt repurchase agreements
Disclosure of net defined benefit liability (asset) [line items]
Defined benefit plan asset allocation percentage	(14.00%)	0.00%

Decommissioning and other provisions

12 Months Ended

Dec. 31, 2022

Other Provisions, Contingent Liabilities And Contingent Assets [Abstract]

Decommissioning and Other Provisions

Decommissioning and other provisions


	$ million
	Decommissioning and restoration	Onerous contracts	Legal	Environmental	Redundancy	Other	Total
At January 1, 2022
Current	871	653	270	332	410	802	3,338
Non-current	21,213	1,029	1,141	847	235	1,339	25,804
	22,084	1,682	1,411	1,179	645	2,141	29,142
Additions	618	620	314	178	226	832	2,788
Amounts charged against provisions	(672)	(661)	(272)	(211)	(372)	(333)	(2,521)
Accretion expense	483	13	16	12	1	5	530
Disposals and liabilities classified as held for sale	(1,228)	(66)	(21)	(2)	—	(7)	(1,324)
Remeasurements and other movements	(182)	(139)	(44)	(78)	(155)	(354)	(952)
Currency translation differences	(818)	35	(3)	(27)	(21)	(74)	(908)
	(1,799)	(198)	(10)	(128)	(321)	69	(2,387)
At December 31, 2022
Current	856	277	224	321	171	1,061	2,910
Non-current	19,429	1,207	1,177	730	153	1,149	23,845
	20,285	1,484	1,401	1,051	324	2,210	26,755

At January 1, 2021
Current	900	532	521	273	673	723	3,622
Non-current	22,081	1,207	1,229	952	265	1,382	27,116
	22,981	1,739	1,750	1,225	938	2,105	30,738
Additions	1,040	229	197	153	991	752	3,362
Amounts charged against provisions	(662)	(264)	(340)	(154)	(733)	(292)	(2,445)
Accretion expense	405	14	11	9	1	10	450
Disposals and liabilities classified as held for sale	(819)	—	(5)	(17)	(1)	(27)	(869)
Remeasurements and other movements	(609)	(36)	(196)	(11)	(512)	(339)	(1,703)
Currency translation differences	(252)	—	(6)	(26)	(39)	(68)	(391)
	(897)	(57)	(339)	(46)	(293)	36	(1,596)
At December 31, 2021
Current	871	653	270	332	410	802	3,338
Non-current	21,213	1,029	1,141	847	235	1,339	25,804
	22,084	1,682	1,411	1,179	645	2,141	29,142

The amount and timing of settlement in respect of these provisions are uncertain and dependent on various factors that are not always within management’s control. Reviews of estimated future decommissioning and restoration costs and the discount rate applied are carried out regularly. The discount rate applied at December 31, 2022, was 3.25% (2021: 2%). An increase of 0.5% or a decrease of 0.5% in the discount rate could result in a decrease of $1.2 billion (2021: $1.5 billion) or an increase of $1.3 billion (2021: $1.7 billion) of decommissioning and restoration provisions, respectively. Such increase or decrease will be reflected in the carrying amount of the related asset. Where applicable that carrying amount is to be tested for impairment.

In 2022, there was a decrease of $3,309 million in the decommissioning and restoration provision as a result of the change in the discount rate, partly offset by an increase in the provision resulting from changes in cost estimates of $3,009 million, reported within remeasurements and other movements.

Other provisions at December 31, 2022, include amounts recognised in respect of employee benefits.

24. Decommissioning and other provisions continued

The decommissioning and restoration provision at December 31, 2022, is expected to be utilised within:


									$ million
									Dec 31, 2022
Between 1 to 5 years									4,219
Between 6 to 10 years									3,882
11 years and later									12,184
Total									20,285

Share-based compensation plans and shares held in trust (Tables)

12 Months Ended

Dec. 31, 2022

Share-based Payment Arrangements [Abstract]

Summary of Share-based Compensation Expense


	$ million
	2022	2021	2020
Equity-settled [A]	807	539	359

[A]On an incidental basis awards may be cash-settled, where an equity settlement is not possible under local regulations.

Schedule of Share Awards Under the PSP and LTIP


	Number of A shares (million)	Number of B shares (million)	Number of ordinary shares (million) [A]	Number of ADSs (million)	Weighted average remaining contractual life (years)
At January 1, 2022	38	12		9	1.2
Assimilation of ordinary A and B shares into ordinary shares	(38)	(12)	50
Granted			22	4
Vested			(16)	(3)
Forfeited			(2)	(1)
At December 31, 2022			54	9	1.1
At January 1, 2021	29	10		8	1.0
Granted	20	6		4
Vested	(9)	(3)		(2)
Forfeited	(2)	(1)		(1)
At December 31, 2021	38	12		9	1.2

[A]On January 29, 2022, as part of the Simplification announced on December 20, 2021, the Company's A and B shares were assimilated into a single line of ordinary shares.

Retirement benefits - Summary of Retirement Benefits by Financial Position (Details) - USD ($)
$ in Millions

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Disclosure of net defined benefit liability (asset) [line items]

$ 2,904

$ (2,854)

Disclosure of net defined benefit liability (asset) [line items]

10,200

8,471

Non-current liabilities:

^[1]

(7,296)

(11,325)

Pensions

Non-current liabilities:

(4,417)

(6,458)

OPEB

Disclosure of net defined benefit liability (asset) [line items]

Non-current liabilities:

(2,879)

(4,867)

Obligations

Disclosure of net defined benefit liability (asset) [line items]

Disclosure of net defined benefit liability (asset) [line items]

(73,481)

(107,336)

$ (115,792)

Obligations | OPEB

Disclosure of net defined benefit liability (asset) [line items]

(2,879)

(4,867)

(5,368)

Plan assets

Disclosure of net defined benefit liability (asset) [line items]

76,756

104,495

$ 102,678

Asset ceilings

Goodwill and other intangible assets

$ (371)

$ (13)

[1]	Goodwill, previously presented under Intangible assets, is separately presented as from 2022. Prior period comparatives have been revised to conform with current year presentation.

Goodwill and other intangible assets

12 Months Ended

Dec. 31, 2022

Intangible Assets [Abstract]


2022


	$ million
		Other intangible assets
	Goodwill	LNG off-take and sales contracts	Environmental certificates	Other		Total
Cost
At January 1	16,117	9,833	2,747	6,679		19,259
Additions	1,954	—	2,338	1,263		3,601
Sales, retirements and other movements [A]	(351)	—	(2,749)	459	[C]	(2,290)
Currency translation differences	(163)	—	(135)	(243)		(378)
At December 31	17,557	9,833	2,201	8,158		20,192
Depreciation, depletion and amortisation, including impairments
At January 1	1,197	5,267		4,219		9,486
Charge for the year [B]	360	793		532		1,325
Sales, retirements and other movements [A]	—	—		(137)		(137)
Currency translation differences	(39)	—		(144)		(144)
At December 31	1,518	6,060		4,470		10,530
Carrying amount at December 31	16,039	3,773	2,201	3,688	[D]	9,662

[A]Includes the reclassification to assets classified as held for sale. (See Note 18).

[B]Includes impairments as presented in Note 12.

[C]Includes the reclassification from goodwill following the completion of a purchase price allocation in Renewables and Energy Solutions.

[D]Includes other intangible assets from acquisitions, power purchase agreements, retail customer relationships, trademarks and $583 million related to software.

11. Goodwill and other intangible assets continued


2021


	$ million
		Other intangible assets
	Goodwill	LNG off-take and sales contracts	Environmental certificates	Other		Total
Cost
At January 1	15,101	10,030	1,013	6,914		17,957
Additions	1,546	—	3,147	527		3,674
Sales, retirements and other movements [A]	(464)	(197)	(1,371)	(607)		(2,175)
Currency translation differences	(66)	—	(42)	(155)		(197)
At December 31	16,117	9,833	2,747	6,679		19,259
Depreciation, depletion and amortisation, including impairments
At January 1	1,062	4,668		4,618		9,286
Charge for the year [B]	167	796		368		1,164
Sales, retirements and other movements [A]	(23)	(197)		(670)		(867)
Currency translation differences	(9)	–		(97)		(97)
At December 31	1,197	5,267		4,219		9,486
Carrying amount at December 31	14,920	4,566	2,747	2,460	[C]	9,773

[A]Includes the reclassification to assets classified as held for sale. (See Note 18).

[B]Includes impairment as presented in Note 12.

[C]Includes $456 million related to software.

Goodwill at December 31, 2022, related principally to the acquisition of BG Group plc in 2016, allocated to Integrated Gas ($4,945 million) and Upstream ($5,294 million) at the operating segment level, and to Pennzoil-Quaker State Company ($1,714 million), a lubricants business in the Chemicals and Products segment based largely in North America.

Additions to goodwill in 2022 mainly related to goodwill recognised from acquisitions in Marketing ($1,178 million) and Renewables and Energy Solutions ($775 million).

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2022
Auditor [Line Items]
Auditor Name	Ernst & Young LLP
Auditor Location	London, United Kingdom
Auditor Firm ID	1438

Taxation - Summary of Taxation Charge (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current tax:
Charge in respect of current period	$ 16,383	$ 7,254	$ 3,272
Adjustments in respect of prior periods	(947)	(719)	(56)
Total	15,436	6,535	3,216
Deferred tax:
Relating to the origination and reversal of temporary differences, tax losses and credits	5,196	2,971	(9,063)
Relating to changes in tax rates and legislation	785	10	(16)
Adjustments in respect of prior periods	524	(317)	430
Total	6,505	2,664	(8,649)
Total taxation charge/(credit)	$ 21,941	$ 9,199	$ (5,433)

Financial instruments (Tables)

12 Months Ended

Dec. 31, 2022

Summary of 10% Appreciation Against the Dollar of Main Currencies


	$ million
	Increase/(decrease) in income before taxation		Increase in net assets
	2022	2021	2022	2021
10% appreciation against the dollar of:
Sterling	(168)	(180)	894	738
Euro	124	(123)	1,486	601
Malaysian ringgit	65	119	313	399
Australian dollar	(65)	(3)	837	591
Canadian dollar	(44)	(44)	1,575	1,439

Schedule of Value at Risk Pre-tax

The VAR average and year-end positions in respect of commodities traded in active markets, which are presented in the table below, are calculated on a diversified basis in order to reflect the effect of offsetting risk within combined portfolios. 2022 was a year of high market volatility driving higher VAR than historic levels. As a result, Shell operated with enhanced risk management protocols.


Value-at-risk (pre-tax)


				$ million
		2022		2021
	Average	Year-end	Average	Year-end
Global oil	72	56	26	30
North America gas and power	18	23	12	15
Europe gas and power	54	40	11	13
Australia gas and power	12	12	8	6
Environmental certificates	10	13	8	10

Schedule of Trade and Other Receivables, Other Payables and Derivative Financial Instruments

These amounts, as presented net and gross within trade and other receivables, trade and other payables and derivative financial instruments in the Consolidated Balance Sheet at December 31, were as follows:


2022


						$ million
			Amounts offset		Amounts not offset
	Gross amounts before offset	Amounts offset	Net amounts as presented	Cash collateral received/pledged	Other offsetting instruments	Net amounts
Assets:
Within trade receivables	28,259	17,200	11,059	292	495	10,272
Within derivative financial instruments	56,154	34,685	21,469	1,904	4,563	15,002
Liabilities:
Within trade payables	29,981	17,200	12,781	608	495	11,678
Within derivative financial instruments	58,991	34,710	24,281	4,788	3,364	16,129


2021


						$ million
			Amounts offset		Amounts not offset
	Gross amounts before offset	Amounts offset	Net amounts as presented	Cash collateral received/pledged	Other offsetting instruments	Net amounts
Assets:
Within trade receivables	20,561	11,937	8,624	164	283	8,177
Within derivative financial instruments	48,813	39,819	8,994	902	3,098	4,994
Liabilities:
Within trade payables	19,347	11,935	7,412	61	283	7,068
Within derivative financial instruments	54,534	40,350	14,184	697	3,109	10,378

Summary of Interbank Offered Rate Reform


			$ million
			December 31, 2022
	Non-derivative financial assets - carrying value	Non-derivative financial liabilities - carrying value	Derivatives - Nominal amount
USD LIBOR (1 month)	34
USD LIBOR (3 months)	1,898	1,176	4,754
USD LIBOR (6 months)	238
Cross-currency interest rate swaps:
EUR Fixed to USD LIBOR (3 months)			8,311
GBP Fixed to USD LIBOR (3 months)			1,078
CHF Fixed to USD LIBOR (3 months)			1,359
MYR LIBOR (3 months) to USD LIBOR (3 months)			360

Total	2,170	1,176	15,862

Schedule of Carrying Amounts of Derivative Contracts Designated and Not Designated as Hedging Instruments for Hedge Accounting

The carrying amounts of derivative contracts at December 31, designated and not designated as hedging instruments for hedge accounting purposes, were as follows:


2022


							$ million
	Assets			Liabilities
	Designated	Not designated	Total	Designated	Not designated	Total	Net
Interest rate swaps	—	1	1	169	—	169	(168)
Forward foreign exchange contracts	—	907	907	—	996	996	(89)
Currency swaps and options	31	24	55	2,925	5	2,930	(2,875)
Commodity derivatives	—	23,676	23,676	—	22,858	22,858	818
Other contracts	—	380	380	—	389	389	(9)
Total	31	24,988	25,019	3,094	24,248	27,342	(2,323)

25. Financial instruments continued


2021


							$ million
	Assets			Liabilities
	Designated	Not designated	Total	Designated	Not designated	Total	Net
Interest rate swaps	237	—	237	24	14	38	199
Forward foreign exchange contracts	—	456	456	—	280	280	176
Currency swaps and options	277	22	299	860	33	893	(594)
Commodity derivatives	12	10,979	10,991	—	15,732	15,732	(4,741)
Other contracts	—	201	201	—	255	255	(54)
Total	526	11,658	12,184	884	16,314	17,198	(5,014)

Contractual Maturities of Derivative Liabilities

The contractual maturities of derivative liabilities at December 31 compare with their carrying amounts in the Consolidated Balance Sheet as follows:


2022


									$ million
	Contractual maturities
	Less than 1 year	Between 1 and 2 years	Between 2 and 3 years	Between 3 and 4 years	Between 4 and 5 years	5 years and later	Total	Difference from carrying amount [A]	Carrying amount
Interest rate swaps	120	50	2	1	1	1	175	(6)	169
Forward foreign exchange contracts	629	294	18	(1)	(2)	(3)	935	61	996
Currency swaps and options	582	554	750	588	507	1,353	4,334	(1,404)	2,930
Commodity derivatives	17,273	3,678	1,203	515	270	793	23,732	(874)	22,858
Other contracts	212	148	22	1	1	—	384	5	389
Total	18,816	4,724	1,995	1,104	777	2,144	29,560	(2,218)	27,342

[A]Mainly related to the effect of discounting.

25. Financial instruments continued


2021


									$ million
	Contractual maturities
	Less than 1 year	Between 1 and 2 years	Between 2 and 3 years	Between 3 and 4 years	Between 4 and 5 years	5 years and later	Total	Difference from carrying amount [A]	Carrying amount
Interest rate swaps	13	13	5	4	3	4	42	(4)	38
Forward foreign exchange contracts	170	40	114	—	—	—	324	(44)	280
Currency swaps and options	321	150	159	287	356	808	2,081	(1,188)	893
Commodity derivatives	12,614	1,401	783	274	158	531	15,761	(29)	15,732
Other contracts	222	34	—	—	—	—	256	(1)	255
Total	13,340	1,638	1,061	565	517	1,343	18,464	(1,266)	17,198

[A]Mainly related to the effect of discounting.

Summary of Net Carrying Amounts of Derivative Contracts Held


2022


				$ million
	Prices in active markets for identical assets/liabilities	Other observable inputs	Unobservable inputs	Total
Interest rate swaps	—	(168)	—	(168)
Forward foreign exchange contracts	—	(89)	—	(89)
Currency swaps and options	—	(2,875)	—	(2,875)
Commodity derivatives	68	(1,161)	1,911	818
Other contracts	—	(7)	(2)	(9)
Total	68	(4,300)	1,909	(2,323)


2021


				$ million
	Prices in active markets for identical assets/liabilities	Other observable inputs	Unobservable inputs	Total
Interest rate swaps	—	199	—	199
Forward foreign exchange contracts	—	176	—	176
Currency swaps and options	—	(594)	—	(594)
Commodity derivatives	41	(5,171)	389	(4,741)
Other contracts	6	(60)	—	(54)
Total	47	(5,450)	389	(5,014)

Summary of Net Carrying Amounts of Derivative Contracts Measured Using Predominantly Unobservable Inputs


		$ million
	2022	2021
At January 1	389	1,077
Net gains/(losses) recognised in revenue	1,190	(569)
Purchases	886	440
Sales	(623)	(442)
Settlements	46	(32)
Recategorisations (net)	17	(87)
Currency translation differences	4	2
At December 31	1,909	389

Reconciliation of Derivative Contracts with Unrecognized Day One Gains or Losses

The unrecognised gains on these derivative contracts at December 31, 2022, were as follows:


		$ million
	2022	2021
At January 1	1,024	968
Movements	596	56
At December 31	1,620	1,024

Dividends - Summary of Interim Dividends (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Dividends [Line Items]
Dividends paid per share (in usd per share)	$ 0.99	$ 0.82	$ 0.9565
Dividends paid	$ 7,283	$ 6,321	$ 7,270
March
Disclosure Of Dividends [Line Items]
Dividends paid per share (in usd per share)	$ 0.24	$ 0.1665	$ 0.47
Dividends paid	$ 1,829	$ 1,290	$ 3,482
June
Disclosure Of Dividends [Line Items]
Dividends paid per share (in usd per share)	$ 0.25	$ 0.1735	$ 0.16
Dividends paid	$ 1,850	$ 1,331	$ 1,239
September
Disclosure Of Dividends [Line Items]
Dividends paid per share (in usd per share)	$ 0.25	$ 0.24	$ 0.16
Dividends paid	$ 1,818	$ 1,854	$ 1,236
December
Disclosure Of Dividends [Line Items]
Dividends paid per share (in usd per share)	$ 0.25	$ 0.24	$ 0.1665
Dividends paid	$ 1,786	$ 1,846	$ 1,313
A shares
Disclosure Of Dividends [Line Items]
Dividends paid		3,330	3,860
B shares
Disclosure Of Dividends [Line Items]
Dividends paid		$ 2,991	$ 3,410

Significant accounting policies, judgements and estimates (Details)	12 Months Ended
	Dec. 31, 2022 USD ($)
Disclosure of detailed information about property, plant and equipment [Line Items]
Self-generated biofuel certificates, value recognized	$ 0
Chemical plants
Disclosure of detailed information about property, plant and equipment [Line Items]
Useful lives of tangible assets	20 years
Retail service stations
Disclosure of detailed information about property, plant and equipment [Line Items]
Useful lives of tangible assets	15 years
Power infrastructure \| Bottom of range
Disclosure of detailed information about property, plant and equipment [Line Items]
Major inspection costs useful economic life	30 years
Power infrastructure \| Top of range
Disclosure of detailed information about property, plant and equipment [Line Items]
Major inspection costs useful economic life	35 years
Wind assets \| Bottom of range
Disclosure of detailed information about property, plant and equipment [Line Items]
Major inspection costs useful economic life	25 years
Wind assets \| Top of range
Disclosure of detailed information about property, plant and equipment [Line Items]
Major inspection costs useful economic life	30 years
Upgraders \| Bottom of range
Disclosure of detailed information about property, plant and equipment [Line Items]
Major inspection costs useful economic life	3 years
Upgraders \| Top of range
Disclosure of detailed information about property, plant and equipment [Line Items]
Major inspection costs useful economic life	5 years

Retirement benefits

12 Months Ended

Dec. 31, 2022

Employee Benefits [Abstract]

Retirement Benefits

Retirement benefits

Retirement benefits are provided in most of the countries where Shell has operational activities. Shell offers these benefits through funded and unfunded defined benefit plans and defined contribution plans. The most significant pension plans are in the Netherlands, UK and USA.

Other post-employment benefits (OPEB) comprising retirement health care and life insurance are also provided in certain countries. The most significant OPEB plan is in the USA.


Financial position


	$ million
	Dec 31, 2022	Dec 31, 2021
Obligations	(73,481)	(107,336)
Plan assets	76,756	104,495
Asset ceilings	(371)	(13)
Surplus/(deficit)	2,904	(2,854)
Retirement benefits in the Consolidated Balance Sheet:
Non-current assets	10,200	8,471
Non-current liabilities:	(7,296)	(11,325)
Non-current liabilities - Pensions	(4,417)	(6,458)
Non-current liabilities - OPEB	(2,879)	(4,867)
Total	2,904	(2,854)

23. Retirement benefits continued


Retirement benefit expense


	$ million
	2022	2021	2020
Defined benefit plans:
Current service cost, net of plan participants’ contributions	1,100	1,385	1,359
Interest expense on defined pension benefit obligations	1,584	1,223	1,683
Interest income on plan assets	(1,732)	(1,160)	(1,657)
Interest expense on OPEB obligations	120	128	145
Current OPEB service cost	57	60	72
Other [A]	246	(343)	(174)
Total	1,375	1,293	1,428
Defined contribution plans	420	403	423
Total retirement benefit expense	1,795	1,696	1,851

[A]Mainly related to plan amendments and curtailments on pension and OPEB plans.

Retirement benefit expenses are presented principally within production and manufacturing expenses and selling, distribution and administrative expenses in the Consolidated Statement of Income. Interest income on plan assets is calculated using the same rate as that applied to the related defined benefit obligations for each plan to determine interest expense.


Remeasurements


	$ million
	2022	2021	2020
Actuarial gains/(losses) on obligations:
Due to changes in financial assumptions on pensions [A]	28,840	1,915	(9,500)
Due to changes in financial assumptions on OPEB [A]	527	59	(650)
Due to experience adjustments on pensions [B]	(2,956)	136	616
Due to experience adjustments on OPEB [B] [C]	1,480	322	188
Due to changes in demographic assumptions on pensions [D]	27	(320)	1,310
Due to changes in demographic assumptions on OPEB [D]	25	(111)	65
Total	27,943	2,001	(7,971)
Return on plan assets (shortage)/in excess of interest income	(20,612)	8,185	4,509
Other movements	(349)	5	7
Total remeasurements	6,982	10,191	(3,455)

[A]Mainly relates to changes in the discount rate and inflation assumptions.

[B]Experience adjustments arise from differences between the actuarial assumptions made in respect of the year and actual outcomes.

[C]Includes $782 million to reflect the impact of prescription drug rebates.

[D]Mainly relates to updates in mortality assumptions.

23. Retirement benefits continued

Defined benefit plan obligations


2022


	$ million, except where indicated
	Pension benefits				Other post-employment benefits
	The Netherlands	UK	USA	Rest of the world [A]	OPEB [B]	Total
At January 1	35,340	29,913	19,003	18,213	4,867	107,336
Current service cost	286	259	282	261	57	1,145
Interest expense	298	489	417	380	120	1,704
Actuarial gains	(8,806)	(9,793)	(3,730)	(3,582)	(2,032)	(27,943)
Benefit payments	(942)	(1,124)	(1,088)	(771)	(178)	(4,103)
Other movements	374	130	(91)	(154)	37	296
Currency translation differences	(1,942)	(2,083)	—	(937)	8	(4,954)
At December 31	24,608	17,791	14,793	13,410	2,879	73,481
Comprising:
Funded pension plans	24,608	17,474	13,925	11,258		67,265
Weighted average duration	17 years	15 years	12 years	13 years		15 years
Unfunded pension plans		317	868	2,152		3,337
Weighted average duration		15 years	9 years	12 years		11 years
Unfunded OPEB plans					2,879	2,879
Weighted average duration					14 years	14 years

[A]Includes pension plans in Germany ($3,477 million) and Canada ($3,482 million) as the largest pension plans in the rest of the world.

[B]Mainly related to post-retirement medical benefits in the USA.


2021


	$ million, except where indicated
	Pension benefits				Other post-employment benefits
	The Netherlands	UK	USA	Rest of the world [A]	OPEB [B]	Total
At January 1	37,268	32,269	20,367	20,520	5,368	115,792
Current service cost	377	323	339	339	60	1,438
Interest expense	155	376	357	335	128	1,351
Actuarial (gains)/losses	1,477	(1,418)	(695)	(1,095)	(270)	(2,001)
Benefit payments	(979)	(1,306)	(1,220)	(870)	(200)	(4,575)
Other movements	(27)	3	(145)	(167)	(187)	(523)
Currency translation differences	(2,931)	(334)	—	(849)	(32)	(4,146)
At December 31	35,340	29,913	19,003	18,213	4,867	107,336
Comprising:
Funded pension plans	35,340	29,440	17,874	15,341		97,995
Weighted average duration	19 years	19 years	12 years	17 years		18 years
Unfunded pension plans		473	1,129	2,872		4,474
Weighted average duration		18 years	9 years	14 years		13 years
Unfunded OPEB plans					4,867	4,867
Weighted average duration					14 years	14 years

[A]Includes pension plans in Germany ($4,988 million) and Canada ($4,740 million) as the largest pension plans in rest of the world.

[B]Mainly related to post-retirement medical benefits in the USA.

23. Retirement benefits continued

Defined benefit plan assets


2022


	$ million, except where indicated
	Pension benefits
	The Netherlands	UK	USA	Rest of the world [A]	Total
At January 1	37,096	33,720	18,055	15,624	104,495
Return on plan assets in excess of interest income	(6,576)	(8,682)	(3,523)	(1,831)	(20,612)
Interest income	314	552	406	460	1,732
Employer contributions	228	54	408	41	731
Plan participants’ contributions	11	16	—	5	32

Benefit payments	(942)	(1,124)	(1,088)	(735)	(3,889)
Other movements	(9)	150	(15)	(184)	(58)
Currency translation differences	(2,136)	(2,723)	—	(816)	(5,675)
At December 31	27,986	21,963	14,243	12,564	76,756

[A]Includes pension plans in Germany ($2,538 million) and Canada ($3,497 million) as the largest pension plans in the rest of the world.


2021


	$ million, except where indicated
	Pension benefits
	The Netherlands	UK	USA	Rest of the world [A]		Total
At January 1	37,673	32,193	17,046	15,766		102,678
Return on plan assets in excess of interest income	3,199	2,575	1,377	1,034		8,185
Interest income	158	376	308	318		1,160
Employer contributions	170	266	559	(58)	[B]	937
Plan participants’ contributions	13	19	—	7		39

Benefit payments	(979)	(1,306)	(1,220)	(821)		(4,326)
Other movements	(6)	(13)	(15)	(13)		(47)
Currency translation differences	(3,132)	(390)	—	(609)		(4,131)
At December 31	37,096	33,720	18,055	15,624		104,495

[A]Includes pension plans in Germany ($3,282 million) and Canada ($4,325 million) as the largest pension plans in the rest of world.

[B]Includes the netted amount of $294 million received from the captive structure in relation to the pension plans reinsured in rest of the world.


Type of pension assets


	2022	2021
Quoted in active markets:
Equities	13%	22%
Debt securities	70%	53%
Real estate	—%	1%
Other	1%	—%
Unquoted
Equities	13%	10%
Debt securities	2%	4%
Real estate	7%	6%
Investment funds	4%	3%
Debt repurchase agreements [A]	(14)%	—%
Cash	4%	1%

[A]'Debt repurchase agreements' are mainly related to UK member defined pension plans to fund liability-driven investments. In addition to these contracts, derivatives including interest rate and inflation swaps are used in the principal defined benefit plan in the Netherlands for liability matching strategies.

Employer contributions to funded defined benefit pension plans are based on actuarial valuations in accordance with local regulations and are estimated to be $836 million in 2023.

23. Retirement benefits continued

Characteristics of significant defined benefit and defined contribution plans and regulatory framework

The Netherlands

The principal defined benefit pension plan in the Netherlands is a funded career-averaged pension arrangement with retired employees drawing benefits as an annuity, with a surplus of $3,378 million reported as at December 31, 2022, (2021: $1,756 million surplus). Whilst the plan was closed to employees hired or rehired after July 1, 2013, it currently remains open for ongoing accrual for existing active members. 23% (2021: 26%) of the overall defined benefit liability in the Netherlands relates to active members. From July 1, 2013, onwards new employees in the Netherlands are entitled to membership of a defined contribution pension plan.

In line with Dutch regulations, the defined benefit pension plan has a joint Trustee Board with trustee representatives nominated by the Company, the Central Staff Council and retired members. The defined benefit pension plan also has an Accountability Council comprised of members nominated by the company, the Central Staff Council and retired members. Furthermore, there is a Supervisory Committee which includes external experts from the pension industry to oversee management, compliance and operations of the fund. The defined contribution pension plan has a one-tier Trustee Board with an independent chair, and trustee representatives nominated by the company and the Central Staff Council (currently no retired members in the fund to act as trustee) as well as two executive board members. The defined contribution fund also has an Accountability Council comprised of members nominated by the company and the Central Staff Council.

The Dutch House of Representatives approved a new regulatory framework for pensions in the Netherlands in December 2022. The regulatory framework for pensions is subject to approval by the Dutch Senate. The new regulation would have to be implemented by January 2027. When effective, these regulatory changes will have an impact on both the defined benefit pension plan and the defined contribution pension plan. As a consequence, such changes would have an impact on the Dutch pension plans which requires consent of the Central Staff Council.

The three largest defined benefit pension plans for employees in the UK are funded final salary pension arrangements with retired employees mainly drawing benefits as an annuity with the option to take a portion as a lump sum. The three plans are separate and independent plans and cannot be netted against each other. In total, the plans reported a surplus of $4,172 million as at December 31, 2022 (2021: surplus of $3,807 million), which is after netting of unfunded plans of $317 million (2021: $473 million) which are reported as non-current liabilities on the balance sheet. All three plans were closed to new employees hired or rehired, however, two plans currently remain open for ongoing accrual for existing active members. 17% (2021: 20%) of the overall defined benefit liability in the UK relates to active members. From March 1, 2013, onwards new employees in the UK are entitled to membership of a defined contribution pension plan.

In line with UK regulations, the principal defined benefit pension plan is governed by a corporate trustee whose board is comprised of four trustee directors nominated by the company including the chair and four member-nominated trustee directors. The defined contribution pension plan is governed by a corporate trustee whose board is comprised of three company-nominated directors including the chair and two member-nominated trustee directors. The trustees are responsible for administering the plans in line with the Trust Deed and Regulations, including setting the investment strategy for the pension plans’ assets and paying member benefits, and are required to act in the best interests of the members
of the pension plans.

USA

The principal defined benefit pension plan in the USA is a funded final average pay pension plan with a surplus of $318 million reported as at December 31, 2022 (2021: $182 million surplus). After retirement, all retirees can choose to draw their benefits as an annuity, whereas others also have the choice to take their benefit in a lump sum. There is also an unfunded defined benefit pension plan with a deficit of $868 million (2021: $1,129 million deficit). The benefits under this plan are taken primarily in a lump sum. In addition, the company provides a defined contribution benefit plan. The funded defined benefit, unfunded defined benefit, and together with Shell's defined contribution pension plans are subject to the provisions of the Employee Retirement Income Security Act (ERISA). 24% (2021: 24%) of the overall defined liability of the funded defined benefit plan in the USA relates to active members.

Both the funded defined benefit pension plan and the defined contribution pension plan are governed by trustees who are appointed by the Plan Sponsor and are named fiduciaries with respect to the plans. The trustees are generally responsible for investment-related matters, appointing the Plan Administrator, maintaining general oversight and deciding appeals of participants.

USA OPEB

The company also sponsors "other post-retirement employee benefits" (OPEB) mainly in the USA. The OPEB plans in the USA provide medical, dental, and vision benefits as well as life insurance benefits to eligible retired employees. The plans are unfunded, and the company and retirees share the costs with a deficit of $2,135 million reported as at December 31, 2022 (2021: $4,067 million deficit). The plan that provides post-retirement medical benefits in the USA is closed to employees hired or rehired on or after January 1, 2017. Certain life insurance benefits are paid by the company.

23. Retirement benefits continued

Significant funding requirements:

▪Additional contributions to the Dutch defined benefit pension plan would be required if the 12-month rolling average local funding percentage falls below 105% for six months or more. At the most recent (2022) funding valuation the local funding percentage was above this level.

▪There are no set minimum statutory funding requirements for the UK plans. A professional qualified independent actuary, appointed by the trustee board, undertakes a local funding valuation typically every three years. The most recent completed funding valuation for the principal defined benefit plan was undertaken as at December 31, 2020, and revealed a funding ratio of 103% and therefore no sponsor contributions (except for salary sacrifice contributions) were payable under the schedule of contributions.

▪Under the Pension Protection Act, US pension plans are subject to minimum required contribution levels based on the funding position.
No contributions are required based on the most recent funding valuation.

Associated risks to which retirement benefits are exposed

There are inherent risks associated with defined benefit pension and OPEB plans. These risks are related to various assumptions made on valuation of the liabilities and the cash funding requirement of the underlying plans. Volatility in capital markets or government policies, and the resulting consequences for investment performance, interest and inflation rates, as well as changes in assumptions for mortality, retirement age or pensionable remuneration at retirement, could result in significant changes to the funding level of future liabilities, and in case of a shortfall, there could be a requirement to make substantial cash contributions (depending on the applicable local regulations).

These inherent risks are managed by a pension forum, chaired by the Chief Financial Officer, which oversees Shell’s pension strategy, policy and operations. The forum is supported by a risk committee in reviewing the results of the assurance process with respect to the pension risk.

Investment strategies

Long-term investment strategies of plans are generally determined by the relevant pension plan trustees using a structured asset/liability modelling approach to define the asset mix that best meets the objectives of optimising returns within agreed risk levels while maintaining adequate funding levels.

Principal and actuarial assumptions

The principal assumptions applied in determining the present value of defined benefit obligations and their bases were as follows:

▪rates of increase in pensionable remuneration, pensions in payment and health-care costs: historical experience and management’s
long-term expectation;

▪discount rates: prevailing long-term AA corporate bond yields, chosen to match the currency and duration of the relevant obligation; and

▪mortality rates: published standard mortality tables for the individual countries concerned adjusted for Shell experience where statistically significant.

The weighted averages for those assumptions and related sensitivity information at December 31, 2022 are presented below. Sensitivity information indicates by how much the defined benefit obligations would increase or decrease if a given assumption were to increase or decrease with no change in other assumptions. The sensitivity analyses may not be representative of an actual change in the defined benefit obligation as it is unlikely that changes in assumptions would occur in isolation from one another. The weighted averages are at nominal terms and based on market expectations at December 31, 2022.

23. Retirement benefits continued


			$ million, except where indicated
			Effect of using alternative assumptions
	Assumptions used at nominal rates		Increase/(decrease) in defined benefit obligations
	Dec 31, 2022	Dec 31, 2021	Range of assumptions	Dec 31, 2022		Dec 31, 2021
Rate of increase in pensionable remuneration [A]	4.0%	3.4%	-1% to +1%	(833)	921	(1,519)	1,672
of which the Netherlands	3.3%	2.8%
of which UK	4.1%	3.6%
of which USA	4.6%	4.1%
Rate of increase in pensions in payment	2.1%	2.0%	-1% to +1%	(5,542)	6,657	(9,908)	12,171
of which the Netherlands	2.6%	2.2%
of which UK	3.0%	3.0%
of which USA	—%	—%
Discount rate for pension plans	4.5%	2.0%	-1% to +1%	10,522	(8,328)	18,954	(14,599)
of which the Netherlands	3.7%	1.2%
of which UK	4.8%	1.9%
of which USA	5.0%	2.9%
Inflation rate for defined benefit obligation [B]	2.2%	2.1%	-1% to +1%	(6,002)	7,271	(10,691)	13,325
of which the Netherlands	2.6%	2.2%
of which UK	3.1%	3.2%

Expected age at death for persons aged 60:
Men	87 years	87 years	-1 year to +1 year	(1,130)	1,103	(1,946)	1,937
of which the Netherlands	88 years	88 years
of which UK	87 years	88 years
of which USA	85 years	85 years
Women	89 years	89 years	-1 year to +1 year	(993)	1,077	(1,863)	1,972
of which the Netherlands	89 years	89 years
of which UK	90 years	90 years
of which USA	86 years	86 years
Rate of increase in health-care costs [C]	6.4%	6.2%	-1% to +1%	(298)	372	(513)	630
Discount rate for health-care plans [C]	5.7%	2.9%	-1% to +1%	401	(309)	678	(539)

[A]Based on active members.

[B]Excluding US funds in the weighted average inflation rate, because of the insignificant impact on the defined benefit obligation.

[C]Mainly related to post-retirement health-care benefits in the USA.

Retirement benefits (Tables)

12 Months Ended

Dec. 31, 2022

Employee Benefits [Abstract]

Summary of Retirement Benefits by Financial Position


	$ million
	Dec 31, 2022	Dec 31, 2021
Obligations	(73,481)	(107,336)
Plan assets	76,756	104,495
Asset ceilings	(371)	(13)
Surplus/(deficit)	2,904	(2,854)
Retirement benefits in the Consolidated Balance Sheet:
Non-current assets	10,200	8,471
Non-current liabilities:	(7,296)	(11,325)
Non-current liabilities - Pensions	(4,417)	(6,458)
Non-current liabilities - OPEB	(2,879)	(4,867)
Total	2,904	(2,854)

Summary of Retirement Benefit Expense


	$ million
	2022	2021	2020
Defined benefit plans:
Current service cost, net of plan participants’ contributions	1,100	1,385	1,359
Interest expense on defined pension benefit obligations	1,584	1,223	1,683
Interest income on plan assets	(1,732)	(1,160)	(1,657)
Interest expense on OPEB obligations	120	128	145
Current OPEB service cost	57	60	72
Other [A]	246	(343)	(174)
Total	1,375	1,293	1,428
Defined contribution plans	420	403	423
Total retirement benefit expense	1,795	1,696	1,851

[A]Mainly related to plan amendments and curtailments on pension and OPEB plans.

Summary of Remeasurements


	$ million
	2022	2021	2020
Actuarial gains/(losses) on obligations:
Due to changes in financial assumptions on pensions [A]	28,840	1,915	(9,500)
Due to changes in financial assumptions on OPEB [A]	527	59	(650)
Due to experience adjustments on pensions [B]	(2,956)	136	616
Due to experience adjustments on OPEB [B] [C]	1,480	322	188
Due to changes in demographic assumptions on pensions [D]	27	(320)	1,310
Due to changes in demographic assumptions on OPEB [D]	25	(111)	65
Total	27,943	2,001	(7,971)
Return on plan assets (shortage)/in excess of interest income	(20,612)	8,185	4,509
Other movements	(349)	5	7
Total remeasurements	6,982	10,191	(3,455)

[A]Mainly relates to changes in the discount rate and inflation assumptions.

[B]Experience adjustments arise from differences between the actuarial assumptions made in respect of the year and actual outcomes.

[C]Includes $782 million to reflect the impact of prescription drug rebates.

[D]Mainly relates to updates in mortality assumptions.

Summary of Defined Benefit Plan Obligations and Assets

Defined benefit plan obligations


2022


	$ million, except where indicated
	Pension benefits				Other post-employment benefits
	The Netherlands	UK	USA	Rest of the world [A]	OPEB [B]	Total
At January 1	35,340	29,913	19,003	18,213	4,867	107,336
Current service cost	286	259	282	261	57	1,145
Interest expense	298	489	417	380	120	1,704
Actuarial gains	(8,806)	(9,793)	(3,730)	(3,582)	(2,032)	(27,943)
Benefit payments	(942)	(1,124)	(1,088)	(771)	(178)	(4,103)
Other movements	374	130	(91)	(154)	37	296
Currency translation differences	(1,942)	(2,083)	—	(937)	8	(4,954)
At December 31	24,608	17,791	14,793	13,410	2,879	73,481
Comprising:
Funded pension plans	24,608	17,474	13,925	11,258		67,265
Weighted average duration	17 years	15 years	12 years	13 years		15 years
Unfunded pension plans		317	868	2,152		3,337
Weighted average duration		15 years	9 years	12 years		11 years
Unfunded OPEB plans					2,879	2,879
Weighted average duration					14 years	14 years

[A]Includes pension plans in Germany ($3,477 million) and Canada ($3,482 million) as the largest pension plans in the rest of the world.

[B]Mainly related to post-retirement medical benefits in the USA.


2021


	$ million, except where indicated
	Pension benefits				Other post-employment benefits
	The Netherlands	UK	USA	Rest of the world [A]	OPEB [B]	Total
At January 1	37,268	32,269	20,367	20,520	5,368	115,792
Current service cost	377	323	339	339	60	1,438
Interest expense	155	376	357	335	128	1,351
Actuarial (gains)/losses	1,477	(1,418)	(695)	(1,095)	(270)	(2,001)
Benefit payments	(979)	(1,306)	(1,220)	(870)	(200)	(4,575)
Other movements	(27)	3	(145)	(167)	(187)	(523)
Currency translation differences	(2,931)	(334)	—	(849)	(32)	(4,146)
At December 31	35,340	29,913	19,003	18,213	4,867	107,336
Comprising:
Funded pension plans	35,340	29,440	17,874	15,341		97,995
Weighted average duration	19 years	19 years	12 years	17 years		18 years
Unfunded pension plans		473	1,129	2,872		4,474
Weighted average duration		18 years	9 years	14 years		13 years
Unfunded OPEB plans					4,867	4,867
Weighted average duration					14 years	14 years

[A]Includes pension plans in Germany ($4,988 million) and Canada ($4,740 million) as the largest pension plans in rest of the world.

[B]Mainly related to post-retirement medical benefits in the USA.

23. Retirement benefits continued

Defined benefit plan assets


2022


	$ million, except where indicated
	Pension benefits
	The Netherlands	UK	USA	Rest of the world [A]	Total
At January 1	37,096	33,720	18,055	15,624	104,495
Return on plan assets in excess of interest income	(6,576)	(8,682)	(3,523)	(1,831)	(20,612)
Interest income	314	552	406	460	1,732
Employer contributions	228	54	408	41	731
Plan participants’ contributions	11	16	—	5	32

Benefit payments	(942)	(1,124)	(1,088)	(735)	(3,889)
Other movements	(9)	150	(15)	(184)	(58)
Currency translation differences	(2,136)	(2,723)	—	(816)	(5,675)
At December 31	27,986	21,963	14,243	12,564	76,756

[A]Includes pension plans in Germany ($2,538 million) and Canada ($3,497 million) as the largest pension plans in the rest of the world.


2021


	$ million, except where indicated
	Pension benefits
	The Netherlands	UK	USA	Rest of the world [A]		Total
At January 1	37,673	32,193	17,046	15,766		102,678
Return on plan assets in excess of interest income	3,199	2,575	1,377	1,034		8,185
Interest income	158	376	308	318		1,160
Employer contributions	170	266	559	(58)	[B]	937
Plan participants’ contributions	13	19	—	7		39

Benefit payments	(979)	(1,306)	(1,220)	(821)		(4,326)
Other movements	(6)	(13)	(15)	(13)		(47)
Currency translation differences	(3,132)	(390)	—	(609)		(4,131)
At December 31	37,096	33,720	18,055	15,624		104,495

[A]Includes pension plans in Germany ($3,282 million) and Canada ($4,325 million) as the largest pension plans in the rest of world.

[B]Includes the netted amount of $294 million received from the captive structure in relation to the pension plans reinsured in rest of the world.


Type of pension assets


	2022	2021
Quoted in active markets:
Equities	13%	22%
Debt securities	70%	53%
Real estate	—%	1%
Other	1%	—%
Unquoted
Equities	13%	10%
Debt securities	2%	4%
Real estate	7%	6%
Investment funds	4%	3%
Debt repurchase agreements [A]	(14)%	—%
Cash	4%	1%

Summary of Assumptions for Sensitivity Analysis


			$ million, except where indicated
			Effect of using alternative assumptions
	Assumptions used at nominal rates		Increase/(decrease) in defined benefit obligations
	Dec 31, 2022	Dec 31, 2021	Range of assumptions	Dec 31, 2022		Dec 31, 2021
Rate of increase in pensionable remuneration [A]	4.0%	3.4%	-1% to +1%	(833)	921	(1,519)	1,672
of which the Netherlands	3.3%	2.8%
of which UK	4.1%	3.6%
of which USA	4.6%	4.1%
Rate of increase in pensions in payment	2.1%	2.0%	-1% to +1%	(5,542)	6,657	(9,908)	12,171
of which the Netherlands	2.6%	2.2%
of which UK	3.0%	3.0%
of which USA	—%	—%
Discount rate for pension plans	4.5%	2.0%	-1% to +1%	10,522	(8,328)	18,954	(14,599)
of which the Netherlands	3.7%	1.2%
of which UK	4.8%	1.9%
of which USA	5.0%	2.9%
Inflation rate for defined benefit obligation [B]	2.2%	2.1%	-1% to +1%	(6,002)	7,271	(10,691)	13,325
of which the Netherlands	2.6%	2.2%
of which UK	3.1%	3.2%

Expected age at death for persons aged 60:
Men	87 years	87 years	-1 year to +1 year	(1,130)	1,103	(1,946)	1,937
of which the Netherlands	88 years	88 years
of which UK	87 years	88 years
of which USA	85 years	85 years
Women	89 years	89 years	-1 year to +1 year	(993)	1,077	(1,863)	1,972
of which the Netherlands	89 years	89 years
of which UK	90 years	90 years
of which USA	86 years	86 years
Rate of increase in health-care costs [C]	6.4%	6.2%	-1% to +1%	(298)	372	(513)	630
Discount rate for health-care plans [C]	5.7%	2.9%	-1% to +1%	401	(309)	678	(539)

[A]Based on active members.

[B]Excluding US funds in the weighted average inflation rate, because of the insignificant impact on the defined benefit obligation.

[C]Mainly related to post-retirement health-care benefits in the USA.

Debt - Schedule of Net Debt (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Net Debt [Line Items]
Beginning balance	$ 52,556	$ 75,386
Cash flow	(13,683)	(26,573)
Lease additions	5,188	3,788
Other movements	1,070	309
Currency translation differences and foreign exchange (gains)/losses	(294)	(354)
End balance	44,837	52,556
Early repayment of non-current debt		3,500
Current debt
Disclosure Of Net Debt [Line Items]
Beginning balance	8,218	16,899
Cash flow	(7,618)	(17,887)
Lease additions	1,111	899
Other movements	7,560	8,655
Currency translation differences and foreign exchange (gains)/losses	(270)	(348)
End balance	9,001	8,218
Non-current debt
Disclosure Of Net Debt [Line Items]
Beginning balance	80,868	91,115
Cash flow	(254)	(1,842)
Lease additions	4,077	2,889
Other movements	(7,883)	(9,034)
Currency translation differences and foreign exchange (gains)/losses	(2,014)	(2,260)
End balance	74,794	80,868
Derivative financial instruments
Disclosure Of Net Debt [Line Items]
Beginning balance	440	(798)
Cash flow	(1,799)	(1,165)
Lease additions
Other movements	1,393	688
Currency translation differences and foreign exchange (gains)/losses	1,254	1,715
End balance	1,288	440
Cash and cash equivalents (see Note 17)
Disclosure Of Net Debt [Line Items]
Beginning balance	(36,970)	(31,830)
Cash flow	(4,012)	(5,679)
Lease additions
Other movements	0	0
Currency translation differences and foreign exchange (gains)/losses	736	539
End balance	$ (40,246)	$ (36,970)

Segment information (Tables)

12 Months Ended

Dec. 31, 2022

Operating Segments [Abstract]

Summary of Information by Segment on Current Cost of Supplies Basis

The carrying value of goodwill, other intangible assets, property plant and equipment, and joint ventures and associates by segment as at December 31, 2022, was as follows:


Carrying value


					$ billion
	Goodwill	Other intangible assets	Property, plant and equipment	Joint ventures and associates	Total
Integrated Gas	4.9	3.9	60.8	5.6	75.2
Upstream	5.3	0.2	74.5	7.7	87.7
Chemicals and Products	0.3	2.1	38.1	4.2	44.7
Marketing	3.3	1.8	19.1	4.4	28.6
Renewables and Energy solutions	2.2	1.6	3.2	1.9	8.9
Corporate	—	0.1	2.9	0.1	3.1
Total	16.0	9.7	198.6	23.9	248.2

Information by segment on a current cost of supplies basis is as follows:


2022


								$ million
	Integrated Gas		Upstream	Marketing	Chemicals and Products	Renewables and Energy Solutions	Corporate	Total
Revenue:
Third-party	54,751		8,352	120,638	144,342	53,190	41	381,314	[A]
Inter-segment	18,412		52,285	606	2,684	6,791	—	80,778
Share of profit/(loss) of joint ventures and associates (CCS basis)	1,219		2,111	237	374	(7)	(4)	3,930
Interest and other income, of which:	(714)		726	(104)	244	57	706	915
Interest income	43		22	—	24	(2)	959	1,046
Net gains on sale and revaluation of non-current assets and businesses	101		437	(186)	282	8	—	642
Other	(858)	[B]	267	82	(62)	51	(253)	(773)
Third-party and inter-segment purchases (CCS basis)	37,785		10,666	108,012	127,521	57,024	(28)	340,980
Production and manufacturing expenses	4,907		9,676	810	7,583	2,520	22	25,518
Selling, distribution and administrative expenses	218		233	7,351	3,592	972	517	12,883
Research and development expenses	112		456	222	187	98	—	1,075
Exploration expenses	240		1,472	—	—	—	—	1,712
Depreciation, depletion and amortisation charge, of which:	2,211		10,334	1,900	3,289	777	18	18,529
Impairment losses	115		950	480	356	412	—	2,313	[C]
Impairment reversals	(3,449)		(2,504)	(151)	(73)	—	—	(6,177)	[D]
Interest expense	84		345	46	22	2	2,682	3,181
Taxation charge/(credit) (CCS basis)	5,899		14,070	903	935	(303)	(7)	21,497
CCS earnings	22,212		16,222	2,133	4,515	(1,059)	(2,461)	41,562

[B]Includes the full write-down of the Nord Stream 2 loan amounting to $1,126 million. (See Note 6).

[C]Impairment losses comprise Property, plant and equipment ($1,799 million, see Note 12), Goodwill ($361 million) and Other intangible assets ($153 million).

[D]Impairment reversals fully comprise Property, plant and equipment. (See Note 12).

8. Segment information continued


2021


							$ million
	Integrated Gas [A]	Upstream [A]	Marketing [A]	Chemicals and Products [A]	Renewables and Energy Solutions [A]	Corporate	Total
Revenue:
Third-party	29,922	9,182	83,494	116,448	22,415	43	261,504	[B]
Inter-segment	8,072	35,789	254	1,890	4,675	—	50,680
Share of profit/(loss) of joint ventures and associates (CCS basis)	1,933	632	385	989	(27)	1	3,913
Interest and other income, of which:	1,596	4,592	278	37	200	353	7,056
Interest income	—	37	3	36	4	431	511
Net gains on sale and revaluation of non-current assets and businesses	1,610	4,130	285	(24)	(6)	—	5,995
Other	(14)	425	(10)	25	202	(78)	550
Third-party and inter-segment purchases (CCS basis)	20,188	9,094	70,745	103,294	26,048	(5)	229,364
Production and manufacturing expenses	4,194	9,797	950	6,815	2,098	(32)	23,822
Selling, distribution and administrative expenses	231	186	6,384	3,375	596	556	11,328
Research and development expenses	101	339	167	157	51	—	815
Exploration expenses	122	1,301	—	—	—	—	1,423
Depreciation, depletion and amortisation charge, of which:	5,908	13,485	1,700	5,485	326	17	26,921
Impairment losses	723	920	129	2,248	45	—	4,065	[C]
Impairment reversals	(204)	(9)	(1)	—	—	—	(214)	[D]
Interest expense	71	333	27	44	—	3,132	3,607
Taxation charge/(credit) (CCS basis)	2,648	6,057	903	(210)	(342)	(665)	8,391
CCS earnings	8,060	9,603	3,535	404	(1,514)	(2,606)	17,482

[A]Revised to conform with reporting segment changes applicable from 2022.

[C]Impairment losses mainly comprise Property, plant and equipment ($3,894 million, see Note 12) and Goodwill ($167 million).

[D]Impairment reversals fully comprise Property, plant and equipment. (See Note 12).

8. Segment information continued


2020


							$ million
	Integrated Gas [A]	Upstream [A]	Marketing [A]	Chemicals and Products [A]	Renewables and Energy Solutions [A]	Corporate	Total
Revenue:
Third-party	20,865	6,743	55,845	84,657	12,382	51	180,543	[B]
Inter-segment	4,357	21,020	152	1,056	1,597	—	28,182
Share of profit/(loss) of joint ventures and associates (CCS basis)	612	(7)	491	1,064	(50)	(268)	1,842
Interest and other income, of which:	212	541	143	(236)	(197)	406	869
Interest income	—	56	4	25	5	589	679
Net gains on sale and revaluation of non-current assets and businesses	212	54	117	(129)	8	24	286
Other	—	431	22	(132)	(210)	(207)	(96)
Third-party and inter-segment purchases (CCS basis)	10,961	4,471	43,856	71,490	12,129	9	142,916
Production and manufacturing expenses	4,957	10,195	779	6,952	1,091	27	24,001
Selling, distribution and administrative expenses	60	(31)	5,380	3,391	606	475	9,881
Research and development expenses	84	486	147	171	19	—	907
Exploration expenses	616	1,131	—	—	—	—	1,747
Depreciation, depletion and amortisation charge, of which:	19,314	21,079	1,499	10,096	424	32	52,444
Impairment losses	13,464	7,274	44	6,492	180	9	27,463	[C]

Interest expense	78	369	43	16	3	3,580	4,089
Taxation (credit)/charge (CCS basis)	(2,794)	(103)	846	(1,754)	(61)	(982)	(4,848)
CCS earnings	(7,230)	(9,300)	4,081	(3,821)	(479)	(2,952)	(19,701)

[A]Revised to conform with reporting segment changes applicable from 2022.

[C]Impairment losses comprise Property, plant and equipment ($26,676 million, see Note 12), Goodwill ($276 million) and Other intangible assets ($511 million).

Summary of Reconciliation of CCS Earnings to Income


	$ million
	2022	2021	2020
Income/(loss) attributable to Shell plc shareholders	42,309	20,101	(21,680)
Income attributable to non-controlling interest	565	529	146
Income/(loss) for the period	42,874	20,630	(21,534)
Current cost of supplies adjustment:
Purchases	(1,714)	(3,772)	2,359
Taxation	444	808	(585)
Share of profit of joint ventures and associates	(42)	(184)	59
Current cost of supplies adjustment	(1,312)	(3,148)	1,833
Of which:
Attributable to Shell plc shareholders	(1,196)	(3,029)	1,759
Attributable to non-controlling interest	(116)	(119)	74
CCS earnings	41,562	17,482	(19,701)
Of which:
CCS earnings attributable to Shell plc shareholders	41,113	17,072	(19,921)
CCS earnings attributable to non-controlling interest	449	410	220

Summary of Information by Geographical Area

Information by geographical area is as follows:


2022


						$ million
	Europe		Asia, Oceania, Africa	USA	Other Americas	Total
Third-party revenue, by origin	135,975	[A]	126,643	87,085	31,611	381,314
Goodwill, other intangible assets, property, plant and equipment, joint ventures and associates at December 31	40,161	[B]	97,019	59,233	51,794	248,207

[A]Includes $50,236 million that originated from the UK.

[B]Includes $20,772 million located in the UK.


2021


						$ million
	Europe		Asia, Oceania, Africa	USA	Other Americas	Total
Third-party revenue, by origin	78,549	[A]	87,070	73,647	22,238	261,504
Goodwill, other intangible assets, property, plant and equipment, joint ventures and associates at December 31	38,881	[B]	97,278	58,286	48,595	243,040

[A]Includes $21,846 million that originated from the UK.

[B]Includes $21,974 million located in the UK.


2020


						$ million
	Europe		Asia, Oceania, Africa	USA	Other Americas	Total
Third-party revenue, by origin	50,138	[A]	65,139	50,856	14,410	180,543
Goodwill, other intangible assets, property, plant and equipment, joint ventures and associates at December 31	38,785	[B]	103,191	62,976	49,909	254,861

[A]Includes $12,958 million that originated from the UK.

[B]Includes $23,302 million located in the UK.

Retirement benefits - Summary of Defined Benefit Plan Obligations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of net defined benefit liability (asset) [line items]
Beginning balance	$ 2,854
Actuarial gains	(27,943)	$ (2,001)	$ 7,971
Other movements	(349)	5	7
Ending balance	(2,904)	2,854
Defined benefit plan obligation
Disclosure of net defined benefit liability (asset) [line items]
Beginning balance	107,336	115,792
Current service cost	1,145	1,438
Interest expense	1,704	1,351
Actuarial gains	(27,943)	(2,001)
Benefit payments	(4,103)	(4,575)
Other movements	296	(523)
Currency translation differences	(4,954)	(4,146)
Ending balance	73,481	107,336	115,792
Defined benefit plan obligation \| The Netherlands
Disclosure of net defined benefit liability (asset) [line items]
Beginning balance	35,340	37,268
Current service cost	286	377
Interest expense	298	155
Actuarial gains	(8,806)	1,477
Benefit payments	(942)	(979)
Other movements	374	(27)
Currency translation differences	(1,942)	(2,931)
Ending balance	24,608	35,340	37,268
Defined benefit plan obligation \| UK
Disclosure of net defined benefit liability (asset) [line items]
Beginning balance	29,913	32,269
Current service cost	259	323
Interest expense	489	376
Actuarial gains	(9,793)	(1,418)
Benefit payments	(1,124)	(1,306)
Other movements	130	3
Currency translation differences	(2,083)	(334)
Ending balance	17,791	29,913	32,269
Defined benefit plan obligation \| USA
Disclosure of net defined benefit liability (asset) [line items]
Beginning balance	19,003	20,367
Current service cost	282	339
Interest expense	417	357
Actuarial gains	(3,730)	(695)
Benefit payments	(1,088)	(1,220)
Other movements	(91)	(145)
Currency translation differences	0	0
Ending balance	14,793	19,003	20,367
Defined benefit plan obligation \| Rest of the world
Disclosure of net defined benefit liability (asset) [line items]
Beginning balance	18,213	20,520
Current service cost	261	339
Interest expense	380	335
Actuarial gains	(3,582)	(1,095)
Benefit payments	(771)	(870)
Other movements	(154)	(167)
Currency translation differences	(937)	(849)
Ending balance	13,410	18,213	20,520
Defined benefit plan obligation \| Germany
Disclosure of net defined benefit liability (asset) [line items]
Beginning balance	4,988
Ending balance	3,477	4,988
Defined benefit plan obligation \| Canada (Federal)
Disclosure of net defined benefit liability (asset) [line items]
Beginning balance	4,740
Ending balance	3,482	4,740
Defined benefit plan obligation \| Pensions \| Funded pension plans
Disclosure of net defined benefit liability (asset) [line items]
Beginning balance	97,995
Ending balance	$ 67,265	$ 97,995
Duration of defined benefit obligation	15 years	18 years
Defined benefit plan obligation \| Pensions \| Funded pension plans \| The Netherlands
Disclosure of net defined benefit liability (asset) [line items]
Beginning balance	$ 35,340
Ending balance	$ 24,608	$ 35,340
Duration of defined benefit obligation	17 years	19 years
Defined benefit plan obligation \| Pensions \| Funded pension plans \| UK
Disclosure of net defined benefit liability (asset) [line items]
Beginning balance	$ 29,440
Ending balance	$ 17,474	$ 29,440
Duration of defined benefit obligation	15 years	19 years
Defined benefit plan obligation \| Pensions \| Funded pension plans \| USA
Disclosure of net defined benefit liability (asset) [line items]
Beginning balance	$ 17,874
Ending balance	$ 13,925	$ 17,874
Duration of defined benefit obligation	12 years	12 years
Defined benefit plan obligation \| Pensions \| Funded pension plans \| Rest of the world
Disclosure of net defined benefit liability (asset) [line items]
Beginning balance	$ 15,341
Ending balance	$ 11,258	$ 15,341
Duration of defined benefit obligation	13 years	17 years
Defined benefit plan obligation \| Pensions \| Unfunded pension plans
Disclosure of net defined benefit liability (asset) [line items]
Beginning balance	$ 4,474
Ending balance	$ 3,337	$ 4,474
Duration of defined benefit obligation	11 years	13 years
Defined benefit plan obligation \| Pensions \| Unfunded pension plans \| UK
Disclosure of net defined benefit liability (asset) [line items]
Beginning balance	$ 473
Ending balance	$ 317	$ 473
Duration of defined benefit obligation	15 years	18 years
Defined benefit plan obligation \| Pensions \| Unfunded pension plans \| USA
Disclosure of net defined benefit liability (asset) [line items]
Beginning balance	$ 1,129
Ending balance	$ 868	$ 1,129
Duration of defined benefit obligation	9 years	9 years
Defined benefit plan obligation \| Pensions \| Unfunded pension plans \| Rest of the world
Disclosure of net defined benefit liability (asset) [line items]
Beginning balance	$ 2,872
Ending balance	$ 2,152	$ 2,872
Duration of defined benefit obligation	12 years	14 years
Defined benefit plan obligation \| OPEB
Disclosure of net defined benefit liability (asset) [line items]
Beginning balance	$ 4,867	$ 5,368
Current service cost	57	60
Interest expense	120	128
Actuarial gains	(2,032)	(270)
Benefit payments	(178)	(200)
Other movements	37	(187)
Currency translation differences	8	(32)
Ending balance	2,879	4,867	5,368
Defined benefit plan obligation \| OPEB \| Unfunded pension plans
Disclosure of net defined benefit liability (asset) [line items]
Beginning balance	4,867
Ending balance	$ 2,879	$ 4,867
Duration of defined benefit obligation	14 years	14 years
Defined benefit plan assets
Disclosure of net defined benefit liability (asset) [line items]
Beginning balance	$ (104,495)	$ (102,678)
Interest expense	(1,732)	(1,160)
Benefit payments	3,889	4,326
Other movements	58	47
Currency translation differences	5,675	4,131
Ending balance	(76,756)	(104,495)	(102,678)
Defined benefit plan assets \| The Netherlands
Disclosure of net defined benefit liability (asset) [line items]
Beginning balance	(37,096)	(37,673)
Interest expense	(314)	(158)
Benefit payments	942	979
Other movements	9	6
Currency translation differences	2,136	3,132
Ending balance	(27,986)	(37,096)	(37,673)
Defined benefit plan assets \| UK
Disclosure of net defined benefit liability (asset) [line items]
Beginning balance	(33,720)	(32,193)
Interest expense	(552)	(376)
Benefit payments	1,124	1,306
Other movements	(150)	13
Currency translation differences	2,723	390
Ending balance	(21,963)	(33,720)	(32,193)
Defined benefit plan assets \| USA
Disclosure of net defined benefit liability (asset) [line items]
Beginning balance	(18,055)	(17,046)
Interest expense	(406)	(308)
Benefit payments	1,088	1,220
Other movements	15	15
Currency translation differences	0	0
Ending balance	(14,243)	(18,055)	(17,046)
Defined benefit plan assets \| Rest of the world
Disclosure of net defined benefit liability (asset) [line items]
Beginning balance	(15,624)	(15,766)
Interest expense	(460)	(318)
Benefit payments	735	821
Other movements	184	13
Currency translation differences	816	609
Ending balance	(12,564)	(15,624)	$ (15,766)
Defined benefit plan assets \| Germany
Disclosure of net defined benefit liability (asset) [line items]
Beginning balance	(3,282)
Ending balance	(2,538)	(3,282)
Defined benefit plan assets \| Canada (Federal)
Disclosure of net defined benefit liability (asset) [line items]
Beginning balance	(4,325)
Ending balance	$ (3,497)	$ (4,325)

Property, plant and equipment

12 Months Ended

Dec. 31, 2022

Property, plant and equipment [abstract]

Property, Plant and Equipment

Property, plant and equipment


2022 [A]


	$ million
	Exploration and production
	Exploration and evaluation	Production	Manufacturing, supply and distribution	Other	Total
Cost
At January 1	12,679	285,903	104,182	34,005	436,769
Additions	1,564	11,954	6,928	7,808	28,254
Sales, retirements and other movements [B]	(2,469)	(14,541)	(2,548)	(242)	(19,800)
Currency translation differences	(209)	(6,300)	(1,777)	(1,976)	(10,262)
At December 31	11,565	277,016	106,785	39,595	434,961
Depreciation, depletion and amortisation, including impairments
At January 1	5,580	167,530	55,131	13,596	241,837
Charge for the year [C]	397	9,709	5,149	2,055	17,310
Sales, retirements and other movements [B]	(765)	(13,207)	(2,054)	(396)	(16,422)
Currency translation differences	(50)	(4,370)	(1,325)	(661)	(6,406)
At December 31	5,162	159,662	56,901	14,594	236,319
Carrying amount at December 31	6,403	117,354	49,884	25,001	198,642

[A]Includes right-of-use assets under leases. (See Note 21).

[B]Includes the reclassification to assets classified as held for sale. (See Note 18).

[C]Includes $6,177 million relating to impairment reversals mainly in Integrated Gas and Upstream (see table 'Impairments' below).

12. Property, plant and equipment continued


2021 [A]


	$ million
	Exploration and production
	Exploration and evaluation	Production	Manufacturing, supply and distribution	Other	Total
Cost


At January 1	14,484	298,882	107,876	32,402	453,644
Additions	1,216	8,942	7,917	3,644	21,719
Sales, retirements and other movements [B]	(3,014)	(20,005)	(9,607)	(455)	(33,081)
Currency translation differences	(7)	(1,916)	(2,004)	(1,586)	(5,513)
At December 31	12,679	285,903	104,182	34,005	436,769
Depreciation, depletion and amortisation, including impairments
At January 1	5,258	167,711	58,242	12,733	243,944
Charge for the year	1,311	15,800	7,112	1,770	25,993
Sales, retirements and other movements [B]	(999)	(14,590)	(8,624)	(240)	(24,453)
Currency translation differences	10	(1,391)	(1,599)	(667)	(3,647)
At December 31	5,580	167,530	55,131	13,596	241,837
Carrying amount at December 31	7,099	118,373	49,051	20,409	194,932

[A]Includes right-of-use assets under leases. (See Note 21).

[B]Includes the reclassification to assets classified as held for sale. (See Note 18).

Additions in 2022 included an acquisition of an interest in an oil field in South America within Upstream, an acquisition of a renewable energy platform in Asia within Renewables and Energy Solutions and an acquisition of certain fuel and convenience retail sites in North America within Marketing.

The carrying amount of property, plant and equipment at December 31, 2022, included $27,277 million (2021: $37,006 million) of assets under construction. This amount excludes exploration and evaluation assets.

The carrying amount of exploration and production assets at December 31, 2022, included rights and concessions in respect of proved and unproved properties of $7,662 million (2021: $8,849 million). Exploration and evaluation assets principally comprise rights and concessions in respect of unproved properties and capitalised exploration drilling costs.

Approaches applied to determine an alternative reserves base for the purpose of calculating depreciation include management's expectations of the future oil and gas prices rather than yearly average prices and using total proved reserves to provide a phasing of periodic depreciation charges that more appropriately reflects the expected utilisation of the assets concerned. (See Note 2)

At December 31, 2022, there were no assets for which management's expectations of the future oil and gas prices were applied rather than yearly average prices (carrying amount of such assets at December 31, 2021: $1,634 million). If no alternative reserves base had been used for those assets, the pre-tax depreciation charge for the years ended December 31, 2021, and December 31, 2020, would have been respectively $1,184 million and $1,012 million higher.

The carrying amount of assets at December 31, 2022, for which total proved reserves were applied rather than total proved developed reserves for the calculation of depreciation, was $26,129 million (2021: $17,462 million). If no alternative reserves base had been used for those assets, the pre-tax depreciation charge for the year ended December 31, 2022, would have been $792 million higher (2021: $1,168 million, 2020: $2,476 million).

Contractual commitments for the purchase and lease of property, plant and equipment at December 31, 2022, amounted to $6,693 million (2021: $5,984 million).

12. Property, plant and equipment continued


Impairments


	$ million
	2022	2021	2020
Impairment losses
Exploration and production	868	1,533	20,155
Manufacturing, supply and distribution	474	2,340	6,490
Other	457	21	31
Total [A]	1,799	3,894	26,676
Impairment reversals
Exploration and production	5,954	213	—
Manufacturing, supply and distribution	72	—	—
Other	151	1	—
Total [A]	6,177	214	—

[A]See Note 8.

Impairment losses in 2022 mainly related to the withdrawal from Russia ($854 million, see Note 6), the classification of an Upstream asset as held for sale ($320 million) and an impairment of capital expenditure additions in fully impaired sites in Chemicals and Products ($257 million).

The recognition of impairment reversals in 2022 resulted from the reversals of impairment losses recognised previously. These were mainly triggered by the revision of Shell's mid- and long-term commodity price assumptions reflecting the current energy market demand and supply fundamentals. They are related to: i) Integrated Gas for $3,449 million, mainly relating to the Queensland Curtis LNG asset; and ii) Upstream for $2,504 million, mainly related to two offshore projects in Brazil and an asset in the US Gulf of Mexico.

Impairment losses in 2021 were predominantly triggered by the reclassifications to assets held for sale, or portfolio developments. They were mainly related to three refineries in the USA within Chemicals and Products impaired on classification as held for sale ($1,537 million), and exploration and evaluation assets both within Integrated Gas ($600 million) and Upstream ($373 million).

Impairment losses in 2020 were mainly triggered by Shell's revision of the mid- and long-term commodity price and refining margin outlook reflecting the expected effects of the macroeconomic environment and the COVID-19 pandemic as well as energy market demand and supply fundamentals. The impairment losses for exploration and production assets related primarily to Integrated Gas ($11,539 million), including the Queensland Curtis LNG and Prelude floating LNG operations, and Upstream ($8,629 million), including assets in the Gulf of Mexico, unconventional assets in North America, offshore assets in Brazil and Europe and a project in Nigeria (OPL 245). The impairment losses for manufacturing, supply and distribution related primarily to Chemicals and Products ($6,493 million), including assets in Europe and the shutdown of the Convent oil products manufacturing facility in the USA.

For impairment testing purposes, the respective carrying amounts of property, plant and equipment and intangible assets were compared with their value in use. Cash flow projections used in the determination of value in use were made using management’s forecasts of commodity prices, market supply and demand, potential costs associated with operational GHG emissions, product margins including forecast refining margins and expected production volumes (see Note 2).

The discount rate is based on a nominal post-tax weighted average cost of capital (WACC) of 5% (2021: 5%) for Power activities and a nominal post-tax WACC of 6.5% (2021: 6.5%) for all other businesses. Prior to 2021 the rate used by Shell was 6% for all activities and was based on a pre-tax discount rate reflecting the marginal cost of debt, current market assessments of the time value of money and residual risk. The change in 2021 in the discount rate to a nominal post-tax WACC has been reflected in a commensurate manner in the risk adjustments to post-tax cash flow projections. The impact of the change in the 2021 impairment valuation technique was not material compared with the previous impairment valuation technique. The pre-tax discount rate used for goodwill testing ranged between 5-12% (2021: 7-11%), see Note 11.

Oil and gas price assumptions applied for impairment testing are reviewed and, where necessary, adjusted on a periodic basis. Reviews include comparison with available market data and forecasts that reflect developments in demand such as global economic growth, technology efficiency, policy measures and, in supply, consideration of investment and resource potential, cost of development of new supply, and behaviour of major resource holders. The near-term commodity price assumptions applied in impairment testing in 2022 were as follows:

12. Property, plant and equipment continued


Commodity price assumptions [A]


2022	2023	2024	2025	2026
Brent crude oil ($/b)	80	70	70	71
Henry Hub natural gas ($/MMBtu)	4.00	3.50	3.50	3.98


2021	2022	2023	2024	2025
Brent crude oil ($/b)	60	60	60	63
Henry Hub natural gas ($/MMBtu)	2.75	2.75	2.75	3.00

[A]Money of the day.

For periods after 2026, the real-terms price assumptions applied were: $65 per barrel (/b) (2021: $60/b) for Brent crude oil, $4.00 per million British thermal units (/MMBtu) (2021: $3.00/MMBtu) for Henry Hub natural gas.

The main sensitivities in relation to impairment are the commodity price assumptions in Integrated Gas and Upstream, refining margins in Chemicals and Products and discount rates in all segments. A change of -10% or +10% in the commodity price assumptions over the entire cash flow projection period would ceteris paribus result in some $2-5 billion impairment or some $2-4 billion impairment reversal, respectively, in Integrated Gas and Upstream. Refining margins included in the Operating Plan are at an average of $6.22/bbl. A change of -$1/bbl or
+$1/bbl long-term refining margins over the entire cash flow projection period would ceteris paribus result in some $1-3 billion impairment or
some $1-3 billion impairment reversal, respectively, in Chemicals and Products. A change of +1% in the discount factor would ceteris paribus result in some $1-3 billion impairment in Integrated Gas, up to $1 billion impairment in each of the following segments: Upstream, Chemicals and Products and Renewables and Energy Solutions, and would have no significant impact on Marketing and Corporate.


Capitalised exploration drilling costs


	$ million
	2022	2021	2020
At January 1	3,015	3,654	5,668
Additions pending determination of proved reserves	1,298	1,024	1,016
Amounts charged to expense	(881)	(639)	(815)
Reclassifications to productive wells on determination of proved reserves	(531)	(577)	(1,385)
Other movements	10	(447)	(830)
At December 31	2,911	3,015	3,654


	Projects		Wells
	Number	$ million	Number	$ million
Between 1 and 5 years	11	819	24	549
Between 6 and 10 years	9	797	32	848
Between 11 and 15 years	1	3	10	210
Between 16 and 20 years	4	193	11	205
Total	25	1,812	77	1,812

Exploration drilling costs capitalised for periods greater than one year at December 31, 2022, analysed according to the most recent year of activity, are presented in the table above. These comprise $443 million relating to six projects where drilling activities were under way or firmly planned for the future, and $1,369 million relating to 19 projects awaiting development concepts.

Decommissioning and other provisions - Maturity analysis (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Disclosures Of Decommissioning And Other Provisions [Line Items]
Amount of provisions expected to be utilized	$ 20,285	$ 22,000
Between 1 and 5 years
Disclosures Of Decommissioning And Other Provisions [Line Items]
Amount of provisions expected to be utilized	4,219
Between 6 to 10 years
Disclosures Of Decommissioning And Other Provisions [Line Items]
Amount of provisions expected to be utilized	3,882
11 years and later
Disclosures Of Decommissioning And Other Provisions [Line Items]
Amount of provisions expected to be utilized	$ 12,184

Trade and other payables - Summary of Detailed Information About Trade and Other Payables (Details) - USD ($)
$ in Millions

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Disclosure Of Emissions And Related Environmental Schemes [Line Items]

Trade payables, current

$ 42,632

$ 34,136

Other payables, current

10,059

9,617

Sales taxes, excise duties and similar levies, current

3,270

3,522

Amounts due to joint ventures and associates, current

8,441

4,793

Accruals and deferred income, current

14,955

11,105

Total, current

^[1]

79,357

63,173

Trade payables, non-current

Other payables, non-current

3,148

1,675

Sales taxes, excises duties and similar duties, non-current

Amounts due to joint ventures and associates, non-current

Accruals and deferred income, non-current

253

364

Total, non-current

3,432

2,075

Emissions instruments

Disclosure Of Emissions And Related Environmental Schemes [Line Items]

Other payables, current

4,232

3,805

$ 1,993

Other payables, non-current

478

211

Obligation under both environmental schemes

$ 4,710

$ 4,016

$ 2,053

[1]	Goodwill, previously presented under Intangible assets, is separately presented as from 2022. Prior period comparatives have been revised to conform with current year presentation.

Post-Balance Sheet Events	12 Months Ended
Post-Balance Sheet Events	Dec. 31, 2022
Events After Reporting Period [Abstract]
Post-Balance Sheet Events	Post-balance sheet events On January 30, 2023, Shell announced that it will reduce the size of its Executive Committee from nine to seven members. Under the changes, which are expected to take effect on July 1, 2023, Shell’s Integrated Gas and Upstream businesses will be combined to form a new Integrated Gas and Upstream Directorate and the Downstream business will be combined with Renewables and Energy Solutions to form a new Downstream and Renewables Directorate. Separately, the Strategy, Sustainability and Corporate Relations Directorate will be discontinued. The changes announced will not affect Shell’s financial reporting segments for the year ending December 31, 2023, which remain unchanged. On February 2, 2023, Shell announced the commencement of a $4 billion share buyback programme covering an aggregate contract term of approximately three months (the "programme"). The purpose of the programme is to reduce the issued share capital of the Company. All shares repurchased as part of the programme will be cancelled. It is intended that, subject to market conditions, the programme will be completed prior to the Company’s First Quarter 2023 results announcement, scheduled for May 4, 2023. The Company has entered into an arrangement with a single broker consisting of three irrevocable, non-discretionary contracts, to enable the purchase of ordinary shares. On February 20, 2023, Shell completed the acquisition of 100% of the shares of Nature Energy Biogas A/S ("Nature Energy") from Davidson Kempner Capital Management LP, Pioneer Point Partners and Sampension for cash consideration of nearly $2 billion. Based in Denmark, Nature Energy is a producer of Renewable Natural Gas from agricultural, industrial, and household wastes. In Shell's First Quarter 2023 Consolidated Statement of Cash Flows, the cash consideration paid will be reflected as an outflow through 'Cash flow from investing activities'. Measurement is now underway of the fair value of the net assets acquired and any goodwill to be recognised as a result of the acquisition. The acquisition of Nature Energy will be reported through the Marketing operating segment. On February 28, 2023, Shell completed the sale of its 100% interest in Shell Onshore Ventures LLC, which holds a 51.8% membership interest in Aera Energy LLC, to IKAV. The total consideration is $2 billion with additional contingent payments based on oil prices and has an effective date of October 1, 2021.

Directors and senior management - Narrative (Details)	12 Months Ended
Directors and senior management - Narrative (Details)	Dec. 31, 2022 director
Related Party [Abstract]
Number of directors with retirement benefits accrued in respect of qualifying services under defined benefit plans	1

Trade and other payables

12 Months Ended

Dec. 31, 2022

Subclassifications of assets, liabilities and equities [abstract]

Trade and Other Payables

Trade and other payables


	$ million
	Dec 31, 2022		Dec 31, 2021
	Current	Non-current	Current	Non-current
Trade payables	42,632	—	34,136	—
Other payables [A]	10,059	3,148	9,617	1,675
Sales taxes, excise duties and similar levies	3,270	—	3,522	—
Amounts due to joint ventures and associates	8,441	31	4,793	36
Accruals and deferred income	14,955	253	11,105	364
Total	79,357	3,432	63,173	2,075

[A]Includes obligations under environmental compliance schemes of $4,710 million as at December 31, 2022 (2021: $4,016 million). (See Note 5).

The fair value of financial liabilities included above approximates the carrying amount and was determined from predominantly
unobservable inputs.

Other payables include amounts due to joint arrangement partners and in respect of other project-related items.

Information about offsetting, collateral and liquidity risk is presented in Note 25.

Earnings per share - Schedule of Earnings Per Share (Details) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Earnings per share [abstract]
Income/(loss) attributable to Shell plc shareholders	$ 42,309	$ 20,101	$ (21,680)
Weighted average number of shares used as the basis for determining:
Basic earnings per share (in shares)	7,347.5	7,761.7	7,795.6
Diluted earnings per share (in shares)	7,410.5	7,806.8	7,795.6

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of comprehensive income [abstract]
Income/(loss) for the period	$ 42,874	$ 20,630	$ (21,534)
Items that may be reclassified to income in later periods:
Currency translation differences	(2,986)	(1,413)	1,179
Debt instruments remeasurements	(78)	(28)	23
Cash flow hedging (losses)/gains	(232)	21	(160)
Net investment hedging gains/(losses)	180	295	(423)
Deferred cost of hedging	200	(39)	100
Share of other comprehensive income/(loss) of joint ventures and associates	274	(109)	(42)
Total	(2,642)	(1,273)	677
Items that are not reclassified to income in later periods:
Retirement benefits remeasurements	5,466	7,198	(2,702)
Equity instruments remeasurements	(491)	145	64
Share of other comprehensive (loss)/income of joint ventures and associates	(253)	3	119
Total	4,722	7,346	(2,519)
Other comprehensive income/(loss) for the period	2,080	6,073	(1,842)
Comprehensive income/(loss) for the period	44,954	26,703	(23,376)
Comprehensive income attributable to non-controlling interest	621	468	136
Comprehensive income/(loss) attributable to Shell plc shareholders	$ 44,333	$ 26,235	$ (23,512)

Share capital (Tables)

12 Months Ended

Dec. 31, 2022

Share Capital, Reserves And Other Equity Interest [Abstract]

Summary of Issued and Fully Paid Ordinary Shares

Issued and fully paid ordinary shares of €0.07 each [A]


	Number of shares			Nominal value			$ million
	A	B	Ordinary shares	A	B	Ordinary shares	Total
At January 1, 2022	4,101,239,499	3,582,892,954		345	296		641
Repurchases of shares before assimilation	—	(34,106,548)		—	(3)		(3)
Assimilation of ordinary A and B shares into ordinary shares	(4,101,239,499)	(3,548,786,406)	7,650,025,905	(345)	(293)	638
Repurchases of B shares on January 27 and 28, 2022, cancelled as ordinary shares on February 2 and 3, 2022			(507,742)			—	—
Repurchases of shares after assimilation			(646,014,770)			(54)	(54)
At December 31, 2022			7,003,503,393			584	584
At January 1, 2021	4,101,239,499	3,706,183,836		345	306		651
Repurchases of shares	—	(123,290,882)		—	(10)		(10)
At December 31, 2021	4,101,239,499	3,582,892,954		345	296		641

[A]Share capital at December 31, 2022, and 2021, also included 50,000 issued and fully paid sterling deferred shares of £1 each.

Interest expense (Tables)

12 Months Ended

Dec. 31, 2022