0001306965-24-000043 | 6-K | XBRL Viewer

Segment information

6 Months Ended

Jun. 30, 2024

REVENUE AND CCS EARNINGS BY SEGMENT

Segment earnings are presented on a current cost of supplies basis (CCS earnings), which is the earnings measure used by the Chief Executive Officer for the purposes of making decisions about allocating resources and assessing performance. On this basis, the purchase price of volumes sold during the period is based on the current cost of supplies during the same period after making allowance for the tax effect. CCS earnings therefore exclude the effect of changes in the oil price on inventory carrying amounts. Sales between segments are based on prices generally equivalent to commercially available prices.

From the first quarter 2024, Wholesale commercial fuels forms part of Mobility with inclusion in the Marketing segment (previously Chemicals and Products segment). The change in segmentation reflects the increasing alignment between the economic characteristics of wholesale commercial fuels and other Mobility businesses, and is consistent with changes in the information provided to the Chief Operating Decision Maker. Prior period comparatives have been revised to conform with current year presentation with an offsetting impact between the Marketing and the Chemicals and Products segment (see below). Also, from the first quarter 2024, Shell's longer-term innovation portfolio is managed centrally and hence reported as part of the Corporate segment (previously all other segments). Prior period comparatives have been revised to conform with current year presentation with an offsetting impact on all the other segments (see below).


Quarters			$ million	Half year
Q2 2024	Q1 2024	Q2 2023		2024	2023
			Third-party revenue
9,052	9,195	7,938	Integrated Gas	18,247	18,869
1,590	1,759	1,533	Upstream	3,349	3,595
32,005	30,041	31,517	Marketing2	62,045	63,562
24,583	23,735	23,712	Chemicals and Products2	48,319	50,002
7,222	7,737	9,866	Renewables and Energy Solutions	14,959	25,485
11	11	12	Corporate	22	24
74,463	72,478	74,578	Total third-party revenue1	146,942	161,538
			Inter-segment revenue
2,157	2,404	2,940	Integrated Gas	4,560	6,474
10,102	10,287	8,859	Upstream	20,390	20,005
1,363	1,355	1,273	Marketing2	2,718	2,600
9,849	10,312	9,918	Chemicals and Products2	20,161	20,711
957	1,005	771	Renewables and Energy Solutions	1,962	2,246
—	—	—	Corporate	—	—
			CCS earnings
2,454	2,761	757	Integrated Gas	5,215	3,169
2,179	2,272	1,601	Upstream	4,451	4,390
257	774	1,019	Marketing2	1,031	2,203
587	1,157	307	Chemicals and Products2	1,744	2,060
(75)	553	540	Renewables and Energy Solutions	478	2,745
(1,656)	(354)	(736)	Corporate3	(2,010)	(1,818)
3,747	7,163	3,488	Total CCS earnings4	10,910	12,749

1.Includes revenue from sources other than from contracts with customers, which mainly comprises the impact of fair value accounting of commodity derivatives. Second quarter 2024 included income of $3,194 million (first quarter 2024: $1,643 million income; second quarter 2023: $4,247 million income). This amount includes both the reversal of prior losses of $73 million (first quarter 2024: $257 million gains; second quarter 2023: $27 million gains) related to sales contracts and prior losses of $227 million (first quarter 2024: $235 million losses; second quarter 2023: $88 million losses) related to purchase contracts that were previously recognised and where physical settlement took place in the second quarter 2024.

2.From January 1, 2024, onwards Wholesale commercial fuels has been reallocated from the Chemicals and Products segment to the Marketing segment. Comparatives for the second quarter 2023 and the half year 2023 have been reclassified accordingly, by $4,944 million and $10,710 million respectively for Third-party revenue and by $48 million and $95 million respectively for CCS earnings to conform with current period presentation. For Inter-segment revenue the reallocation and revision of comparative figures for the second quarter 2023 and the half year 2023 led to an increase in inter-segment revenue in the Marketing segment of $1,150 million and $2,314 million respectively and an increase in the Chemicals and Products segment of $9,410 million and $19,638 million respectively.

3.From January 1, 2024, onwards costs for Shell's centrally managed longer-term innovation portfolio are reported as part of the Corporate segment. Prior period comparatives for Corporate for the second quarter 2023 and the half year 2023 have been revised by $35 million and $53 million respectively, with a net offsetting impact in all other segments to conform with current period presentation.

4.See Note 3 "Reconciliation of income for the period to CCS Earnings, Operating expenses and Total Debt".

CASH CAPITAL EXPENDITURE BY SEGMENT

Cash capital expenditure is a measure used by the Chief Executive Officer for the purposes of making decisions about allocating resources and assessing performance.


Quarters			$ million	Half year
Q2 2024	Q1 2024	Q2 2023		2024	2023
			Capital expenditure
1,024	858	803	Integrated Gas	1,882	1,500
1,769	1,766	1,936	Upstream	3,535	3,688
644	427	695	Marketing1	1,071	3,423
601	474	624	Chemicals and Products1	1,074	1,183
377	421	483	Renewables and Energy Solutions	797	858
30	34	72	Corporate	64	122
4,445	3,980	4,614	Total capital expenditure	8,424	10,774
			Add: Investments in joint ventures and associates
127	184	286	Integrated Gas	310	401
60	244	93	Upstream	304	211
–	38	14	Marketing	38	23
37	26	3	Chemicals and Products	63	5
35	8	46	Renewables and Energy Solutions	43	91
1	–	(6)	Corporate	2	10
261	500	436	Total investments in joint ventures and associates	761	743
			Add: Investments in equity securities
–	–	–	Integrated Gas	–	–
–	–	–	Upstream	–	–
–	–	–	Marketing	–	–
–	–	2	Chemicals and Products	–	2
13	10	27	Renewables and Energy Solutions	22	46
–	3	51	Corporate	3	65
13	13	80	Total investments in equity securities	25	114
			Cash capital expenditure
1,151	1,041	1,089	Integrated Gas	2,192	1,901
1,829	2,010	2,029	Upstream	3,839	3,899
644	465	709	Marketing1	1,109	3,446
638	500	630	Chemicals and Products1	1,138	1,190
425	438	556	Renewables and Energy Solutions	863	996
32	37	117	Corporate	69	198
4,719	4,493	5,130	Total Cash capital expenditure	9,211	11,631

1.From January 1, 2024, onwards Wholesale commercial fuels has been reallocated from the Chemicals and Products segment to the Marketing segment. Comparatives for the second quarter 2023 and the half year 2023 have been reclassified accordingly by $39 million and $91 million respectively for capital expenditure and cash capital expenditure to conform with current period presentation.

Reconciliation of income for the period to CCS Earnings, Operating expenses and Total Debt

RECONCILIATION OF INCOME FOR THE PERIOD TO CCS EARNINGS


Quarters			$ million	Half year
Q2 2024	Q1 2024	Q2 2023		2024	2023
3,517	7,358	3,134	Income/(loss) attributable to Shell plc shareholders	10,874	11,843
133	82	20	Income/(loss) attributable to non-controlling interest	215	83
3,650	7,439	3,154	Income/(loss) for the period	11,089	11,926
			Current cost of supplies adjustment:
137	(332)	383	Purchases	(194)	1,030
(36)	84	(96)	Taxation	48	(267)
(5)	(28)	47	Share of profit/(loss) of joint ventures and associates	(33)	60
97	(276)	334	Current cost of supplies adjustment	(179)	823
			Of which:
89	(264)	326	Attributable to Shell plc shareholders	(175)	807
7	(12)	8	Attributable to non-controlling interest	(4)	16
3,747	7,163	3,488	CCS earnings	10,910	12,749
			Of which:
3,606	7,093	3,460	CCS earnings attributable to Shell plc shareholders	10,700	12,650
140	70	27	CCS earnings attributable to non-controlling interest	210	99

RECONCILIATION OF OPERATING EXPENSES


Quarters			$ million	Half year
Q2 2024	Q1 2024	Q2 2023		2024	2023
5,593	5,810	6,041	Production and manufacturing expenses	11,403	12,049
3,094	2,975	3,314	Selling, distribution and administrative expenses	6,069	6,365
263	212	297	Research and development	475	550
8,950	8,997	9,653	Operating expenses	17,947	18,964

RECONCILIATION OF TOTAL DEBT


Quarters			$ million	Half year
Q2 2024	Q1 2024	Q2 2023		2024	2023
June 30, 2024	March 31, 2024	June 30, 2023		June 30, 2024	June 30, 2023
10,849	11,046	12,114	Current debt	10,849	12,114
64,619	68,886	72,252	Non-current debt	64,619	72,252
75,468	79,931	84,366	Total debt	75,468	84,366

Earnings per share (Tables)

6 Months Ended

Jun. 30, 2024

Earnings per share [abstract]

Schedule of Earnings per Share

EARNINGS PER SHARE


Quarters				Half year
Q2 2024	Q1 2024	Q2 2023		2024	2023
3,517	7,358	3,134	Income/(loss) attributable to Shell plc shareholders ($ million)	10,874	11,843

			Weighted average number of shares used as the basis for determining:
6,355.4	6,440.1	6,793.4	Basic earnings per share (million)	6,397.7	6,855.8
6,417.6	6,504.3	6,854.2	Diluted earnings per share (million)	6,461.0	6,917.8

Other notes to the unaudited Condensed Consolidated Interim Financial Statements - Balance Sheet/Cash Flow Narrative (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Disclosure of depreciation, depletion and amortisation [Line Items]
Inventories	$ 26,449			$ 26,449		$ 26,019
Property, plant and equipment	189,656			189,656		194,835
Total debt	75,468	$ 79,931	$ 84,366	75,468	$ 84,366
Decommissioning and other provisions	3,622			3,622		4,041
(Gain)/loss reclassified to profit or loss	1,104	(12)	(4)	1,092	$ (2)
Decrease (increase) in emissions instruments	(620)	188	764
Adjustments For Reversal (Increase) In Recyled Currency Translation Losses (Gains)	1,104	$ 0	$ 0
Assets and liabilities classified as held for sale
Disclosure of depreciation, depletion and amortisation [Line Items]
Inventories	1,310			1,310		463
Property, plant and equipment	215			215		250
Total debt	377			377		84
Decommissioning and other provisions	$ 329			$ 329		$ 75

CONSOLIDATED STATEMENT OF INCOME - USD ($) $ in Millions	3 Months Ended			6 Months Ended
CONSOLIDATED STATEMENT OF INCOME - USD ($) $ in Millions	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Profit or loss [abstract]
Third-party revenue	$ 74,463	$ 72,478	$ 74,578	$ 146,942	$ 161,538
Share of profit/(loss) of joint ventures and associates	898	1,318	629	2,216	2,210
Interest and other income/(expenses)	(305)	907	813	602	1,294
Total revenue and other income/(expenses)	75,057	74,703	76,020	149,760	165,041
Purchases	49,417	46,867	51,492	96,284	108,994
Production and manufacturing expenses	5,593	5,810	6,041	11,403	12,049
Selling, distribution and administrative expenses	3,094	2,975	3,314	6,069	6,365
Research and development	263	212	297	475	550
Exploration	496	750	444	1,246	847
Depreciation, depletion and amortisation	7,555	5,881	7,872	13,436	14,157
Interest expense	1,235	1,164	1,211	2,399	2,375
Total expenditure	67,653	63,659	70,671	131,312	145,339
Income/(loss) before taxation	7,404	11,044	5,348	18,447	19,702
Taxation charge/(credit)	3,754	3,604	2,195	7,358	7,776
Income/(loss) for the period	3,650	7,439	3,154	11,089	11,926
Income/(loss) attributable to non-controlling interest	133	82	20	215	83
Income/(loss) attributable to Shell plc shareholders	$ 3,517	$ 7,358	$ 3,134	$ 10,874	$ 11,843
Basic earnings per share ($ per share)	$ 0.55	$ 1.14	$ 0.46	$ 1.70	$ 1.73
Diluted earnings per share ($ per share)	$ 0.55	$ 1.13	$ 0.46	$ 1.68	$ 1.71

Other reserves (Tables)

6 Months Ended

Jun. 30, 2024

Share Capital, Reserves And Other Equity Interest [Abstract]

Summary of Other Reserves Attributable to Royal Dutch Shell Plc Shareholders

OTHER RESERVES


$ million	Merger reserve	Share premium reserve	Capital redemption reserve	Share plan reserve	Accumulated other comprehensive income	Total
At January 1, 2024	37,298	154	236	1,308	(17,851)	21,145
Other comprehensive income/(loss) attributable to Shell plc shareholders	—	—	—	—	(494)	(494)
Transfer from other comprehensive income	—	—	—	—	170	170
Repurchases of shares	—	—	17	—	—	17
Share-based compensation	—	—	—	(213)	—	(213)
At June 30, 2024	37,298	154	253	1,095	(18,175)	20,625
At January 1, 2023	37,298	154	196	1,140	(17,656)	21,132
Other comprehensive income/(loss) attributable to Shell plc shareholders	—	—	—	—	24	24
Transfer from other comprehensive income	—	—	—	—	(121)	(121)
Repurchases of shares	—	—	22	—	—	22
Share-based compensation	—	—	—	(203)	—	(203)
At June 30, 2023	37,298	154	220	936	(17,752)	20,854

Reconciliation of income for the period to CCS Earnings, Operating expenses and Total Debt

6 Months Ended

Jun. 30, 2024

Operating Segments [Abstract]

Reconciliation of income for the period to CCS Earnings, Operating expenses and Total Debt

Segment information

REVENUE AND CCS EARNINGS BY SEGMENT


Quarters			$ million	Half year
Q2 2024	Q1 2024	Q2 2023		2024	2023
			Third-party revenue
9,052	9,195	7,938	Integrated Gas	18,247	18,869
1,590	1,759	1,533	Upstream	3,349	3,595
32,005	30,041	31,517	Marketing2	62,045	63,562
24,583	23,735	23,712	Chemicals and Products2	48,319	50,002
7,222	7,737	9,866	Renewables and Energy Solutions	14,959	25,485
11	11	12	Corporate	22	24
74,463	72,478	74,578	Total third-party revenue1	146,942	161,538
			Inter-segment revenue
2,157	2,404	2,940	Integrated Gas	4,560	6,474
10,102	10,287	8,859	Upstream	20,390	20,005
1,363	1,355	1,273	Marketing2	2,718	2,600
9,849	10,312	9,918	Chemicals and Products2	20,161	20,711
957	1,005	771	Renewables and Energy Solutions	1,962	2,246
—	—	—	Corporate	—	—
			CCS earnings
2,454	2,761	757	Integrated Gas	5,215	3,169
2,179	2,272	1,601	Upstream	4,451	4,390
257	774	1,019	Marketing2	1,031	2,203
587	1,157	307	Chemicals and Products2	1,744	2,060
(75)	553	540	Renewables and Energy Solutions	478	2,745
(1,656)	(354)	(736)	Corporate3	(2,010)	(1,818)
3,747	7,163	3,488	Total CCS earnings4	10,910	12,749

4.See Note 3 "Reconciliation of income for the period to CCS Earnings, Operating expenses and Total Debt".

CASH CAPITAL EXPENDITURE BY SEGMENT

Cash capital expenditure is a measure used by the Chief Executive Officer for the purposes of making decisions about allocating resources and assessing performance.


Quarters			$ million	Half year
Q2 2024	Q1 2024	Q2 2023		2024	2023
			Capital expenditure
1,024	858	803	Integrated Gas	1,882	1,500
1,769	1,766	1,936	Upstream	3,535	3,688
644	427	695	Marketing1	1,071	3,423
601	474	624	Chemicals and Products1	1,074	1,183
377	421	483	Renewables and Energy Solutions	797	858
30	34	72	Corporate	64	122
4,445	3,980	4,614	Total capital expenditure	8,424	10,774
			Add: Investments in joint ventures and associates
127	184	286	Integrated Gas	310	401
60	244	93	Upstream	304	211
–	38	14	Marketing	38	23
37	26	3	Chemicals and Products	63	5
35	8	46	Renewables and Energy Solutions	43	91
1	–	(6)	Corporate	2	10
261	500	436	Total investments in joint ventures and associates	761	743
			Add: Investments in equity securities
–	–	–	Integrated Gas	–	–
–	–	–	Upstream	–	–
–	–	–	Marketing	–	–
–	–	2	Chemicals and Products	–	2
13	10	27	Renewables and Energy Solutions	22	46
–	3	51	Corporate	3	65
13	13	80	Total investments in equity securities	25	114
			Cash capital expenditure
1,151	1,041	1,089	Integrated Gas	2,192	1,901
1,829	2,010	2,029	Upstream	3,839	3,899
644	465	709	Marketing1	1,109	3,446
638	500	630	Chemicals and Products1	1,138	1,190
425	438	556	Renewables and Energy Solutions	863	996
32	37	117	Corporate	69	198
4,719	4,493	5,130	Total Cash capital expenditure	9,211	11,631

Reconciliation of income for the period to CCS Earnings, Operating expenses and Total Debt

RECONCILIATION OF INCOME FOR THE PERIOD TO CCS EARNINGS


Quarters			$ million	Half year
Q2 2024	Q1 2024	Q2 2023		2024	2023
3,517	7,358	3,134	Income/(loss) attributable to Shell plc shareholders	10,874	11,843
133	82	20	Income/(loss) attributable to non-controlling interest	215	83
3,650	7,439	3,154	Income/(loss) for the period	11,089	11,926
			Current cost of supplies adjustment:
137	(332)	383	Purchases	(194)	1,030
(36)	84	(96)	Taxation	48	(267)
(5)	(28)	47	Share of profit/(loss) of joint ventures and associates	(33)	60
97	(276)	334	Current cost of supplies adjustment	(179)	823
			Of which:
89	(264)	326	Attributable to Shell plc shareholders	(175)	807
7	(12)	8	Attributable to non-controlling interest	(4)	16
3,747	7,163	3,488	CCS earnings	10,910	12,749
			Of which:
3,606	7,093	3,460	CCS earnings attributable to Shell plc shareholders	10,700	12,650
140	70	27	CCS earnings attributable to non-controlling interest	210	99

RECONCILIATION OF OPERATING EXPENSES


Quarters			$ million	Half year
Q2 2024	Q1 2024	Q2 2023		2024	2023
5,593	5,810	6,041	Production and manufacturing expenses	11,403	12,049
3,094	2,975	3,314	Selling, distribution and administrative expenses	6,069	6,365
263	212	297	Research and development	475	550
8,950	8,997	9,653	Operating expenses	17,947	18,964

RECONCILIATION OF TOTAL DEBT


Quarters			$ million	Half year
Q2 2024	Q1 2024	Q2 2023		2024	2023
June 30, 2024	March 31, 2024	June 30, 2023		June 30, 2024	June 30, 2023
10,849	11,046	12,114	Current debt	10,849	12,114
64,619	68,886	72,252	Non-current debt	64,619	72,252
75,468	79,931	84,366	Total debt	75,468	84,366

Other notes to the unaudited Condensed Consolidated Interim Financial Statements (Tables)

6 Months Ended

Jun. 30, 2024

Other notes to the unaudited Condensed Consolidated Interim Financial Statements [Abstract]

Interest and other income


Quarters			$ million	Half year
Q2 2024	Q1 2024	Q2 2023		2024	2023
(305)	907	813	Interest and other income/(expenses)	602	1,294
			Of which:
616	588	599	Interest income	1,204	1,100
30	23	29	Dividend income (from investments in equity securities)	53	29
143	10	65	Net gains/(losses) on sales and revaluation of non-current assets and businesses	154	110
(1,169)	66	7	Net foreign exchange gains/(losses) on financing activities	(1,103)	(229)
74	219	113	Other	293	284

Depreciation, depletion and amortisation


Quarters			$ million	Half year
Q2 2024	Q1 2024	Q2 2023		2024	2023
7,555	5,881	7,872	Depreciation, depletion and amortisation	13,436	14,157
			Of which:
5,642	5,654	5,708	Depreciation	11,296	11,404
1,984	382	2,490	Impairments	2,365	3,079
(71)	(154)	(326)	Impairment reversals	(225)	(326)

Taxation charge/ credit

Taxation charge/credit


Quarters			$ million	Half year
Q2 2024	Q1 2024	Q2 2023		2024	2023
3,754	3,604	2,195	Taxation charge/(credit)	7,358	7,776
			Of which:
3,666	3,525	2,195	Income tax excluding Pillar Two income tax	7,192	7,776
88	79	—	Income tax related to Pillar Two income tax	167	—

Currency translation differences


Quarters			$ million	Half year
Q2 2024	Q1 2024	Q2 2023		2024	2023
698	(1,995)	(267)	Currency translation differences	(1,296)	286
			Of which:
(406)	(1,983)	(263)	Recognised in Other comprehensive income	(2,388)	288
1,104	(12)	(4)	(Gain)/loss reclassified to profit or loss	1,092	(2)

Retirement benefits


$ million
	June 30, 2024	December 31, 2023
Non-current assets
Retirement benefits	9,454	9,151
Non-current liabilities
Retirement benefits	6,701	7,549
Surplus/(deficit)	2,753	1,602

Assets classified as held for sale


$ million
	June 30, 2024	December 31, 2023
Assets classified as held for sale	1,692	951
Liabilities directly associated with assets classified as held for sale	857	307

Cash flows from operating activities - Other

Cash flow from operating activities - Other


Quarters			$ million	Half year
Q2 2024	Q1 2024	Q2 2023		2024	2023
2,027	509	954	Other	2,536	624

CONSOLIDATED STATEMENT OF CASH FLOWS (Parentheticals) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023
Disclosure of reclassifications or changes in presentation [line items]
– Increase/(decrease) in current payables	$ 4,573	$ 15,379
– Decommissioning and other provisions	(282)	(492)
Revision of prior period, reclassification, adjustment
Disclosure of reclassifications or changes in presentation [line items]
– Increase/(decrease) in current payables	46	172
– Decommissioning and other provisions	$ 46	$ 172

Share capital

6 Months Ended

Jun. 30, 2024

Share Capital, Reserves And Other Equity Interest [Abstract]

Share capital

ISSUED AND FULLY PAID ORDINARY SHARES OF €0.07 EACH


	Number of shares	Nominal value ($ million)

At January 1, 2024	6,524,109,049	544
Repurchases of shares	(199,993,563)	(17)
At June 30, 2024	6,324,115,486	528
At January 1, 2023	7,003,503,393	584
Repurchases of shares	(268,292,487)	(22)
At June 30, 2023	6,735,210,906	562

At Shell plc’s Annual General Meeting on May 21, 2024, the Board was authorised to allot ordinary shares in Shell plc, and to grant rights to subscribe for, or to convert, any security into ordinary shares in Shell plc, up to an aggregate nominal amount of approximately €150 million (representing approximately 2,147 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 20, 2025, or the end of the Annual General Meeting to be held in 2025, unless previously renewed, revoked or varied by Shell plc in a general meeting.

Derivative financial instruments and debt excluding lease liabilities

6 Months Ended

Jun. 30, 2024

Financial Instruments [Abstract]

Derivative financial instruments and debt excluding lease liabilities

As disclosed in the Consolidated Financial Statements for the year ended December 31, 2023, presented in the Annual Report and Accounts and Form 20-F for that year, Shell is exposed to the risks of changes in fair value of its financial assets and liabilities. The fair values of the financial assets and liabilities are defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Methods and assumptions used to estimate the fair values at June 30, 2024, are consistent with those used in the year ended December 31, 2023, though the carrying amounts of derivative financial instruments have changed since that date. The movement of the derivative financial instruments between December 31, 2023 and June 30, 2024 is a decrease of $3,374 million for the current assets and a decrease of $1,391 million for the current liabilities.

The table below provides the comparison of the fair value with the carrying amount of debt excluding lease liabilities, disclosed in accordance with IFRS 7 Financial Instruments: Disclosures.

DEBT EXCLUDING LEASE LIABILITIES


$ million
	June 30, 2024	December 31, 2023
Carrying amount	49,868	53,832
Fair value¹	45,803	50,866

1. Mainly determined from the prices quoted for these securities.

Cover Page	6 Months Ended
Cover Page	Jun. 30, 2024
Cover [Abstract]
Document Type	6-K
Entity File Number	1-32575
Entity Registrant Name	Shell plc
Amendment Flag	false
Document Period End Date	Jun. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001306965
Current Fiscal Year End Date	--12-31

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - USD ($) $ in Millions	Total	Total	Share capital	Shares held in trust	Other reserves	Retained earnings	Non-controlling interest
Beginning balance at Dec. 31, 2022	$ 192,597	$ 190,472	$ 584	$ (726)	$ 21,132	$ 169,482	$ 2,125
Comprehensive income/(loss) for the period	11,934	11,866			24	11,842	68
Transfer from other comprehensive income	0	0			(121)	121
Dividends	(4,599)	(4,014)				(4,014)	(585)
Repurchases of shares	(8,054)	(8,054)	(22)		22	(8,054)
Share-based compensation	192	192		500	(203)	(105)
Other changes	25	1				1	24
Ending balance at Jun. 30, 2023	192,094	190,461	562	(227)	20,854	169,272	1,633
Beginning balance at Dec. 31, 2023	188,362	186,607	544	(997)	21,145	165,915	1,755
Comprehensive income/(loss) for the period	10,560	10,381			(494)	10,874	180
Transfer from other comprehensive income	0	0			170	(170)
Dividends	(4,537)	(4,387)				(4,387)	(150)
Repurchases of shares	(7,020)	(7,020)	(17)		17	(7,020)
Share-based compensation	(76)	(76)		544	(213)	(406)
Other changes	(98)	(96)				(96)	(1)
Ending balance at Jun. 30, 2024	$ 187,190	$ 185,407	$ 528	$ (454)	$ 20,625	$ 164,709	$ 1,783

- 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

Reconciliation of income for the period to CCS Earnings, Operating expenses and Total Debt - Summary of Reconciliation of Operating Expenses (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disclosure Of Reconciliation Of Earnings To Income [Line Items]
Production and manufacturing expenses	$ 5,593	$ 5,810	$ 6,041	$ 11,403	$ 12,049
Selling, distribution and administrative expenses	3,094	2,975	3,314	6,069	6,365
Research and development	263	212	297	475	550
Operating expenses	67,653	63,659	70,671	131,312	145,339
CCS earnings
Disclosure Of Reconciliation Of Earnings To Income [Line Items]
Production and manufacturing expenses	5,593	5,810	6,041	11,403	12,049
Selling, distribution and administrative expenses	3,094	2,975	3,314	6,069	6,365
Research and development	263	212	297	475	550
Operating expenses	$ 8,950	$ 8,997	$ 9,653	$ 17,947	$ 18,964

Share capital (Tables)

6 Months Ended

Jun. 30, 2024

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


	Number of shares	Nominal value ($ million)

At January 1, 2024	6,524,109,049	544
Repurchases of shares	(199,993,563)	(17)
At June 30, 2024	6,324,115,486	528
At January 1, 2023	7,003,503,393	584
Repurchases of shares	(268,292,487)	(22)
At June 30, 2023	6,735,210,906	562

Share capital - Narrative (Details) - Ordinary shares issue mandate € / shares in Units, € in Millions, shares in Millions	May 21, 2024 EUR (€) € / shares shares
Disclosure of classes of share capital [line items]
Common stock, value authorised \| €	€ 150
Common stock, shares authorised (in shares) \| shares	2,147
Par value per share (in eur per share) \| € / shares	€ 0.07

Reconciliation of income for the period to CCS Earnings, Operating expenses and Total Debt - Summary of Reconciliation of Total Debt (Details) - USD ($) $ in Millions	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023
Disclosure of operating segments [abstract]
Current debt	$ 10,849	$ 11,046	$ 9,931	$ 12,114
Non-current debt	64,619	68,886	$ 71,610	72,252
Total debt	$ 75,468	$ 79,931		$ 84,366

Other notes to the unaudited Condensed Consolidated Interim Financial Statements - Taxation charge/ credit (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Major components of tax expense (income) [abstract]
Taxation charge/(credit)	$ 3,754	$ 3,604	$ 2,195	$ 7,358	$ 7,776
Of which:
Income tax excluding Pillar Two income tax	3,666	3,525	2,195	7,192	7,776
Income tax related to Pillar Two income tax	$ 88	$ 79	$ 0	$ 167	$ 0

- Definition

The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]

+ References + Details

Other notes to the unaudited Condensed Consolidated Interim Financial Statements - Retirement benefits (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Other notes to the unaudited Condensed Consolidated Interim Financial Statements [Abstract]
Retirement benefits1	$ 9,454	$ 9,151
Retirement benefits1	6,701	7,549
Surplus/(deficit)	$ 2,753	$ 1,602

Derivative financial instruments and debt excluding lease liabilities - Narrative (Details) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)
Derivatives
Disclosure of detailed information about financial instruments [line items]
Decrease in financial liabilities	$ 1,391
Derivatives
Disclosure of detailed information about financial instruments [line items]
Decrease in financial assets	$ 3,374

Segment information (Tables)

6 Months Ended

Jun. 30, 2024

Operating Segments [Abstract]

Summary of Information by Segment


Quarters			$ million	Half year
Q2 2024	Q1 2024	Q2 2023		2024	2023
			Third-party revenue
9,052	9,195	7,938	Integrated Gas	18,247	18,869
1,590	1,759	1,533	Upstream	3,349	3,595
32,005	30,041	31,517	Marketing2	62,045	63,562
24,583	23,735	23,712	Chemicals and Products2	48,319	50,002
7,222	7,737	9,866	Renewables and Energy Solutions	14,959	25,485
11	11	12	Corporate	22	24
74,463	72,478	74,578	Total third-party revenue1	146,942	161,538
			Inter-segment revenue
2,157	2,404	2,940	Integrated Gas	4,560	6,474
10,102	10,287	8,859	Upstream	20,390	20,005
1,363	1,355	1,273	Marketing2	2,718	2,600
9,849	10,312	9,918	Chemicals and Products2	20,161	20,711
957	1,005	771	Renewables and Energy Solutions	1,962	2,246
—	—	—	Corporate	—	—
			CCS earnings
2,454	2,761	757	Integrated Gas	5,215	3,169
2,179	2,272	1,601	Upstream	4,451	4,390
257	774	1,019	Marketing2	1,031	2,203
587	1,157	307	Chemicals and Products2	1,744	2,060
(75)	553	540	Renewables and Energy Solutions	478	2,745
(1,656)	(354)	(736)	Corporate3	(2,010)	(1,818)
3,747	7,163	3,488	Total CCS earnings4	10,910	12,749

4.See Note 3 "Reconciliation of income for the period to CCS Earnings, Operating expenses and Total Debt".


Quarters			$ million	Half year
Q2 2024	Q1 2024	Q2 2023		2024	2023
			Capital expenditure
1,024	858	803	Integrated Gas	1,882	1,500
1,769	1,766	1,936	Upstream	3,535	3,688
644	427	695	Marketing1	1,071	3,423
601	474	624	Chemicals and Products1	1,074	1,183
377	421	483	Renewables and Energy Solutions	797	858
30	34	72	Corporate	64	122
4,445	3,980	4,614	Total capital expenditure	8,424	10,774
			Add: Investments in joint ventures and associates
127	184	286	Integrated Gas	310	401
60	244	93	Upstream	304	211
–	38	14	Marketing	38	23
37	26	3	Chemicals and Products	63	5
35	8	46	Renewables and Energy Solutions	43	91
1	–	(6)	Corporate	2	10
261	500	436	Total investments in joint ventures and associates	761	743
			Add: Investments in equity securities
–	–	–	Integrated Gas	–	–
–	–	–	Upstream	–	–
–	–	–	Marketing	–	–
–	–	2	Chemicals and Products	–	2
13	10	27	Renewables and Energy Solutions	22	46
–	3	51	Corporate	3	65
13	13	80	Total investments in equity securities	25	114
			Cash capital expenditure
1,151	1,041	1,089	Integrated Gas	2,192	1,901
1,829	2,010	2,029	Upstream	3,839	3,899
644	465	709	Marketing1	1,109	3,446
638	500	630	Chemicals and Products1	1,138	1,190
425	438	556	Renewables and Energy Solutions	863	996
32	37	117	Corporate	69	198
4,719	4,493	5,130	Total Cash capital expenditure	9,211	11,631

Segment information - Revenue and CCS Earnings by Segment (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disclosure of operating segments [line items]
Third-party revenue	$ 74,463	$ 72,478	$ 74,578	$ 146,942	$ 161,538
Gains on change in fair value of derivatives	3,194	1,643	4,247
Operating segments
Disclosure of operating segments [line items]
Third-party revenue	74,463	72,478	74,578	146,942	161,538
Integrated Gas \| Operating segments
Disclosure of operating segments [line items]
Third-party revenue	9,052	9,195	7,938	18,247	18,869
Integrated Gas \| Inter-segment
Disclosure of operating segments [line items]
Third-party revenue	2,157	2,404	2,940	4,560	6,474
Upstream \| Operating segments
Disclosure of operating segments [line items]
Third-party revenue	1,590	1,759	1,533	3,349	3,595
Upstream \| Inter-segment
Disclosure of operating segments [line items]
Third-party revenue	10,102	10,287	8,859	20,390	20,005
Marketing \| Operating segments
Disclosure of operating segments [line items]
Third-party revenue	32,005	30,041	31,517	62,045	63,562
Marketing \| Operating segments \| Revision of prior period, reclassification, adjustment
Disclosure of operating segments [line items]
Third-party revenue			4,944		10,710
Marketing \| Inter-segment
Disclosure of operating segments [line items]
Third-party revenue	1,363	1,355	1,273	2,718	2,600
Marketing \| Inter-segment \| Revision of prior period, reclassification, adjustment
Disclosure of operating segments [line items]
Third-party revenue			1,150		2,314
Chemicals and Products \| Operating segments
Disclosure of operating segments [line items]
Third-party revenue	24,583	23,735	23,712	48,319	50,002
Chemicals and Products \| Operating segments \| Revision of prior period, reclassification, adjustment
Disclosure of operating segments [line items]
Third-party revenue			(4,944)		(10,710)
Chemicals and Products \| Inter-segment
Disclosure of operating segments [line items]
Third-party revenue	9,849	10,312	9,918	20,161	20,711
Chemicals and Products \| Inter-segment \| Revision of prior period, reclassification, adjustment
Disclosure of operating segments [line items]
Third-party revenue			9,410		19,638
Renewables and Energy Solutions \| Operating segments
Disclosure of operating segments [line items]
Third-party revenue	7,222	7,737	9,866	14,959	25,485
Renewables and Energy Solutions \| Inter-segment
Disclosure of operating segments [line items]
Third-party revenue	957	1,005	771	1,962	2,246
Corporate \| Operating segments
Disclosure of operating segments [line items]
Third-party revenue	11	11	12	22	24
Corporate \| Inter-segment
Disclosure of operating segments [line items]
Third-party revenue	0	0	0	0	0
CCS earnings
Disclosure of operating segments [line items]
CCS earnings	3,747	7,163	3,488	10,910	12,749
CCS earnings \| Integrated Gas
Disclosure of operating segments [line items]
CCS earnings	2,454	2,761	757	5,215	3,169
CCS earnings \| Upstream
Disclosure of operating segments [line items]
CCS earnings	2,179	2,272	1,601	4,451	4,390
CCS earnings \| Marketing
Disclosure of operating segments [line items]
CCS earnings	257	774	1,019	1,031	2,203
CCS earnings \| Marketing \| Revision of prior period, reclassification, adjustment
Disclosure of operating segments [line items]
CCS earnings			48		95
CCS earnings \| Chemicals and Products
Disclosure of operating segments [line items]
CCS earnings	587	1,157	307	1,744	2,060
CCS earnings \| Chemicals and Products \| Revision of prior period, reclassification, adjustment
Disclosure of operating segments [line items]
CCS earnings			(48)		(95)
CCS earnings \| Renewables and Energy Solutions
Disclosure of operating segments [line items]
CCS earnings	(75)	553	540	478	2,745
CCS earnings \| Corporate
Disclosure of operating segments [line items]
CCS earnings	(1,656)	(354)	(736)	$ (2,010)	(1,818)
CCS earnings \| Corporate \| Revision of prior period, reclassification, adjustment
Disclosure of operating segments [line items]
CCS earnings			35		$ 53
Sales contract
Disclosure of operating segments [line items]
Reversal of (gains) losses on purchase contracts	73	257	27
Purchase contract
Disclosure of operating segments [line items]
Reversal of gains on sales contracts	$ 227	$ 235	$ 88

Segment information - Cash Capital Expenditure by Segment (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disclosure of operating segments [line items]
Capital expenditure	$ 4,445	$ 3,980	$ 4,614	$ 8,424	$ 10,774
Investments in joint ventures and associates	261	500	436	761	743
Investments in equity securities	13	13	80	25	114
Cash capital expenditure	4,719	4,493	5,130	9,211	11,631
Operating segments
Disclosure of operating segments [line items]
Capital expenditure	4,445	3,980	4,614	8,424	10,774
Investments in joint ventures and associates	261	500	436	761	743
Investments in equity securities	13	13	80	25	114
Cash capital expenditure	4,719	4,493	5,130	9,211	11,631
Operating segments \| Integrated Gas
Disclosure of operating segments [line items]
Capital expenditure	1,024	858	803	1,882	1,500
Investments in joint ventures and associates	127	184	286	310	401
Investments in equity securities	0	0	0	0	0
Cash capital expenditure	1,151	1,041	1,089	2,192	1,901
Operating segments \| Upstream
Disclosure of operating segments [line items]
Capital expenditure	1,769	1,766	1,936	3,535	3,688
Investments in joint ventures and associates	60	244	93	304	211
Investments in equity securities	0	0	0	0	0
Cash capital expenditure	1,829	2,010	2,029	3,839	3,899
Operating segments \| Marketing
Disclosure of operating segments [line items]
Capital expenditure	644	427	695	1,071	3,423
Investments in joint ventures and associates	0	38	14	38	23
Investments in equity securities	0	0	0	0	0
Cash capital expenditure	644	465	709	1,109	3,446
Operating segments \| Marketing \| Revision of prior period, reclassification, adjustment
Disclosure of operating segments [line items]
Capital expenditure			39
Cash capital expenditure					91
Operating segments \| Chemicals and Products
Disclosure of operating segments [line items]
Capital expenditure	601	474	624	1,074	1,183
Investments in joint ventures and associates	37	26	3	63	5
Investments in equity securities	0	0	2	0	2
Cash capital expenditure	638	500	630	1,138	1,190
Operating segments \| Chemicals and Products \| Revision of prior period, reclassification, adjustment
Disclosure of operating segments [line items]
Capital expenditure			(39)
Cash capital expenditure					(91)
Operating segments \| Renewables and Energy Solutions
Disclosure of operating segments [line items]
Capital expenditure	377	421	483	797	858
Investments in joint ventures and associates	35	8	46	43	91
Investments in equity securities	13	10	27	22	46
Cash capital expenditure	425	438	556	863	996
Operating segments \| Corporate
Disclosure of operating segments [line items]
Capital expenditure	30	34	72	64	122
Investments in joint ventures and associates	1	0	(6)	2	10
Investments in equity securities	0	3	51	3	65
Cash capital expenditure	$ 32	$ 37	$ 117	$ 69	$ 198

Other notes to the unaudited Condensed Consolidated Interim Financial Statements - Currency translation differences (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Other notes to the unaudited Condensed Consolidated Interim Financial Statements [Abstract]
– Currency translation differences	$ 698	$ (1,995)	$ (267)	$ (1,296)	$ 286
Of which:
Recognised in Other comprehensive income	(406)	(1,983)	(263)	(2,388)	288
(Gain)/loss reclassified to profit or loss	$ 1,104	$ (12)	$ (4)	$ 1,092	$ (2)

Other reserves

6 Months Ended

Jun. 30, 2024

Share Capital, Reserves And Other Equity Interest [Abstract]

Other reserves

OTHER RESERVES


$ million	Merger reserve	Share premium reserve	Capital redemption reserve	Share plan reserve	Accumulated other comprehensive income	Total
At January 1, 2024	37,298	154	236	1,308	(17,851)	21,145
Other comprehensive income/(loss) attributable to Shell plc shareholders	—	—	—	—	(494)	(494)
Transfer from other comprehensive income	—	—	—	—	170	170
Repurchases of shares	—	—	17	—	—	17
Share-based compensation	—	—	—	(213)	—	(213)
At June 30, 2024	37,298	154	253	1,095	(18,175)	20,625
At January 1, 2023	37,298	154	196	1,140	(17,656)	21,132
Other comprehensive income/(loss) attributable to Shell plc shareholders	—	—	—	—	24	24
Transfer from other comprehensive income	—	—	—	—	(121)	(121)
Repurchases of shares	—	—	22	—	—	22
Share-based compensation	—	—	—	(203)	—	(203)
At June 30, 2023	37,298	154	220	936	(17,752)	20,854

The merger reserve and share premium reserve were established as a consequence of Shell plc (formerly Royal Dutch Shell plc) becoming the single parent company of Royal Dutch Petroleum Company and The “Shell” Transport and Trading Company, p.l.c., 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 Shell plc. The share plan reserve is in respect of equity-settled share-based compensation plans.

Other notes to the unaudited Condensed Consolidated Interim Financial Statements - Depreciation, depletion and amortisation (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Impairment Of Assets [Abstract]
Total depreciation, amortisation and impairment loss (reversal of impairment loss) recognised in profit or loss	$ 7,555	$ 5,881	$ 7,872	$ 13,436	$ 14,157
Depreciation	5,642	5,654	5,708	11,296	11,404
Impairments	1,984	382	2,490	2,365	3,079
Impairment reversals	$ (71)	$ (154)	$ (326)	$ (225)	$ (326)

Other notes to the unaudited Condensed Consolidated Interim Financial Statements - Income statement narrative (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disclosure of impairment loss and reversal of impairment loss [line items]
(Gain)/loss reclassified to profit or loss	$ (1,104)	$ 12	$ 4	$ (1,092)	$ 2
Impairment loss	1,984	382	2,490
Impairment loss, after tax	1,778	$ 332	$ 1,910
Marketing
Disclosure of impairment loss and reversal of impairment loss [line items]
Impairment loss	1,055
Chemicals and Products
Disclosure of impairment loss and reversal of impairment loss [line items]
Impairment loss	690
Renewables and Energy Solutions
Disclosure of impairment loss and reversal of impairment loss [line items]
Impairment loss	$ 141

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of comprehensive income [abstract]
Income/(loss) for the period	$ 3,650	$ 7,439	$ 3,154	$ 11,089	$ 11,926
Items that may be reclassified to income in later periods:
– Currency translation differences	698	(1,995)	(267)	(1,296)	286
– Debt instruments remeasurements	(12)	(6)	(7)	(19)	12
– Cash flow hedging gains/(losses)	14	53	100	67	(80)
– Net investment hedging gains/(losses)	0	0	8	0	(44)
– Deferred cost of hedging	(6)	(14)	(53)	(20)	(55)
– Share of other comprehensive income/(loss) of joint ventures and associates	(50)	(12)	(10)	(62)	(46)
Total	644	(1,974)	(229)	(1,330)	73
Items that are not reclassified to income in later periods:
– Retirement benefits remeasurements	310	439	(24)	749	(55)
– Equity instruments remeasurements	(81)	78	16	(3)	23
– Share of other comprehensive income/(loss) of joint ventures and associates	44	10	(24)	55	(32)
Total	273	528	(32)	801	(65)
Other comprehensive income/(loss) for the period	917	(1,445)	(261)	(529)	8
Comprehensive income/(loss) for the period	4,567	5,994	2,893	10,560	11,934
Comprehensive income/(loss) attributable to non-controlling interest	123	56	(15)	180	68
Comprehensive income/(loss) attributable to Shell plc shareholders	$ 4,443	$ 5,937	$ 2,908	$ 10,381	$ 11,866

CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of cash flows [abstract]
Income before taxation for the period	$ 7,404	$ 11,044	$ 5,348	$ 18,447	$ 19,702
Adjustment for:
– Interest expense (net)	619	576	612	1,195	1,276
– Depreciation, depletion and amortisation	7,555	5,881	7,872	13,436	14,157
– Exploration well write-offs	269	554	204	823	440
– Net (gains)/losses on sale and revaluation of non-current assets and businesses	(143)	(10)	(53)	(154)	(98)
– Share of (profit)/loss of joint ventures and associates	(898)	(1,318)	(629)	(2,216)	(2,210)
– Dividends received from joint ventures and associates	792	738	884	1,530	1,780
– (Increase)/decrease in inventories	(954)	(608)	1,171	(1,562)	5,389
– (Increase)/decrease in current receivables	1,965	(195)	8,289	1,770	14,231
– Increase/(decrease) in current payables	(1,269)	(1,949)	(4,573)	(3,218)	(15,379)
– Derivative financial instruments	253	1,386	(907)	1,638	(3,244)
– Retirement benefits	(332)	(61)	14	(392)	30
– Decommissioning and other provisions	(332)	(600)	(282)	(931)	(492)
– Other	2,027	509	954	2,536	624
Tax paid	(3,448)	(2,616)	(3,773)	(6,064)	(6,917)
Cash flow from operating activities	13,508	13,330	15,130	26,838	29,289
Capital expenditure	(4,445)	(3,980)	(4,614)	(8,424)	(10,774)
Investments in joint ventures and associates	(261)	(500)	(436)	(761)	(743)
Investments in equity securities	(13)	(13)	(80)	(25)	(114)
Cash capital expenditure	(4,719)	(4,493)	(5,130)	(9,211)	(11,631)
Proceeds from sale of property, plant and equipment and businesses	710	323	362	1,033	1,841
Proceeds from joint ventures and associates from sale, capital reduction and repayment of long-term loans	57	133	100	190	357
Proceeds from sale of equity securities	2	569	18	570	20
Interest received	648	577	522	1,224	970
Other investing cash inflows	883	857	1,908	1,740	2,607
Other investing cash outflows	(920)	(1,494)	(794)	(2,414)	(1,417)
Cash flow from investing activities	(3,338)	(3,528)	(3,015)	(6,866)	(7,253)
Net increase/(decrease) in debt with maturity period within three months	(179)	(107)	(186)	(286)	(272)
Other debt:
– New borrowings	132	167	362	299	777
– Repayments	(4,154)	(1,532)	(1,774)	(5,686)	(3,228)
Interest paid	(1,287)	(911)	(1,158)	(2,198)	(2,027)
Derivative financial instruments	(115)	(297)	(152)	(412)	48
Change in non-controlling interest	(1)	(4)	2	(5)	(27)
Cash dividends paid to:
– Shell plc shareholders	(2,177)	(2,210)	(1,983)	(4,387)	(4,013)
– Non-controlling interest	(82)	(68)	(575)	(150)	(585)
Repurchases of shares	(3,958)	(2,824)	(3,624)	(6,782)	(7,915)
Shares held in trust: net sales/(purchases) and dividends received	(24)	(462)	86	(486)	(146)
Cash flow from financing activities	(11,846)	(8,248)	(9,003)	(20,094)	(17,388)
Effects of exchange rate changes on cash and cash equivalents	(126)	(379)	(93)	(505)	199
Increase/(decrease) in cash and cash equivalents	(1,801)	1,175	3,020	(627)	4,848
Cash and cash equivalents at beginning of period	39,949	38,774	42,074	38,774	40,246
Cash and cash equivalents at end of period	$ 38,148	$ 39,949	$ 45,094	$ 38,148	$ 45,094

Earnings per share

6 Months Ended

Jun. 30, 2024

Earnings per share [abstract]

Earnings per Share

Earnings per share

EARNINGS PER SHARE


Quarters				Half year
Q2 2024	Q1 2024	Q2 2023		2024	2023
3,517	7,358	3,134	Income/(loss) attributable to Shell plc shareholders ($ million)	10,874	11,843

			Weighted average number of shares used as the basis for determining:
6,355.4	6,440.1	6,793.4	Basic earnings per share (million)	6,397.7	6,855.8
6,417.6	6,504.3	6,854.2	Diluted earnings per share (million)	6,461.0	6,917.8

Reconciliation of income for the period to CCS Earnings, Operating expenses and Total Debt - Summary of Reconciliation of Income to CCS Earnings (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disclosure Of Reconciliation Of Ccs Earnings To Income [Line Items]
Income/(loss) attributable to Shell plc shareholders	$ 3,517	$ 7,358	$ 3,134	$ 10,874	$ 11,843
Income/(loss) attributable to non-controlling interest	133	82	20	215	83
Income/(loss) for the period	3,650	7,439	3,154	11,089	11,926
CCS earnings
Current cost of supplies adjustment:
Purchases	137	(332)	383	(194)	1,030
Taxation	(36)	84	(96)	48	(267)
Share of profit/(loss) of joint ventures and associates	(5)	(28)	47	(33)	60
Current cost of supplies adjustment	97	(276)	334	(179)	823
Of which:
Attributable to Shell plc shareholders	89	(264)	326	(175)	807
Attributable to non-controlling interest	7	(12)	8	(4)	16
CCS earnings	3,747	7,163	3,488	10,910	12,749
of which:
CCS earnings attributable to Shell plc shareholders	3,606	7,093	3,460	10,700	12,650
CCS earnings attributable to non-controlling interest	$ 140	$ 70	$ 27	$ 210	$ 99

Derivative financial instruments and debt excluding lease liabilities - Comparison of the Fair Value with the Carrying Amount of Debt Excluding Lease Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Financial Instruments [Abstract]
Carrying amount	$ 49,868	$ 53,832
Fair value	$ 45,803	$ 50,866

Other notes to the unaudited Condensed Consolidated Interim Financial Statements - Other cash flows (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Other notes to the unaudited Condensed Consolidated Interim Financial Statements [Abstract]
Other operating cash inflows	$ 2,027	$ 509	$ 954	$ 2,536	$ 624

Other notes to the unaudited Condensed Consolidated Interim Financial Statements

6 Months Ended

Jun. 30, 2024

Other notes to the unaudited Condensed Consolidated Interim Financial Statements [Abstract]

Other notes to the unaudited Condensed Consolidated Interim Financial Statements

8. Other notes to the unaudited Condensed Consolidated Interim Financial Statements

Consolidated Statement of Income

Interest and other income


Quarters			$ million	Half year
Q2 2024	Q1 2024	Q2 2023		2024	2023
(305)	907	813	Interest and other income/(expenses)	602	1,294
			Of which:
616	588	599	Interest income	1,204	1,100
30	23	29	Dividend income (from investments in equity securities)	53	29
143	10	65	Net gains/(losses) on sales and revaluation of non-current assets and businesses	154	110
(1,169)	66	7	Net foreign exchange gains/(losses) on financing activities	(1,103)	(229)
74	219	113	Other	293	284

Net foreign exchange gains/(losses) on financing activities in the second quarter 2024 includes a loss of $1,104 million related to cumulative currency translation differences that were reclassified to profit and loss. The reclassification of these cumulative currency translation differences was principally triggered by changes in the funding structure of some of Shell's businesses in the United Kingdom. These currency translation differences were previously directly recognised in equity as part of accumulated other comprehensive income.

Depreciation, depletion and amortisation


Quarters			$ million	Half year
Q2 2024	Q1 2024	Q2 2023		2024	2023
7,555	5,881	7,872	Depreciation, depletion and amortisation	13,436	14,157
			Of which:
5,642	5,654	5,708	Depreciation	11,296	11,404
1,984	382	2,490	Impairments	2,365	3,079
(71)	(154)	(326)	Impairment reversals	(225)	(326)

Impairments recognised in the second quarter 2024 of $1,984 million pre-tax ($1,778 million post-tax) mainly relate to Marketing ($1,055 million), Chemicals and Products ($690 million) and Renewables and Energy Solutions ($141 million). The impairment in Marketing principally relates to a biofuels facility located in the Netherlands, triggered by a temporary pause of on-site construction work. The impairment in Chemicals and Products relates to an Energy and Chemicals Park located in Singapore, due to remeasurement of the fair value less costs of disposal triggered by a sales agreement reached. Impairments recognised in the first quarter 2024 of $382 million pre-tax ($332 million post-tax) include various smaller impairments in various segments. Impairments in the second quarter 2023 were mainly triggered by a change in the discount rate applied. Impairments recognised in the second quarter 2023 of $2,490 million pre-tax ($1,910 million post-tax) relate to an asset in Integrated Gas located in North America and various smaller impairments across segments.

Taxation charge/credit


Quarters			$ million	Half year
Q2 2024	Q1 2024	Q2 2023		2024	2023
3,754	3,604	2,195	Taxation charge/(credit)	7,358	7,776
			Of which:
3,666	3,525	2,195	Income tax excluding Pillar Two income tax	7,192	7,776
88	79	—	Income tax related to Pillar Two income tax	167	—

On June 20, 2023, the UK substantively enacted Pillar Two Model Rules, effective as from January 1, 2024.

As required by IAS 12 Income Taxes, Shell has applied the exception to recognising and disclosing information about deferred tax assets and liabilities related to Pillar Two income taxes.

Consolidated Statement of Comprehensive Income

Currency translation differences


Quarters			$ million	Half year
Q2 2024	Q1 2024	Q2 2023		2024	2023
698	(1,995)	(267)	Currency translation differences	(1,296)	286
			Of which:
(406)	(1,983)	(263)	Recognised in Other comprehensive income	(2,388)	288
1,104	(12)	(4)	(Gain)/loss reclassified to profit or loss	1,092	(2)

Amounts reclassified to profit and loss in the second quarter 2024 relate to cumulative currency translation differences that were reclassified to income (refer to Interest and other income above).

Condensed Consolidated Balance Sheet

Retirement benefits


$ million
	June 30, 2024	December 31, 2023
Non-current assets
Retirement benefits	9,454	9,151
Non-current liabilities
Retirement benefits	6,701	7,549
Surplus/(deficit)	2,753	1,602

Amounts recognised in the Balance Sheet in relation to defined benefit plans include both plan assets and obligations that are presented on a net basis on a plan-by-plan basis. The change in the net retirement benefit asset as at June 30, 2024, is mainly driven by an increase of the market yield on high-quality corporate bonds in the USA, the UK and Eurozone since December 31, 2023, partly offset by losses on plan assets.

Assets classified as held for sale


$ million
	June 30, 2024	December 31, 2023
Assets classified as held for sale	1,692	951
Liabilities directly associated with assets classified as held for sale	857	307

Assets classified as held for sale and associated liabilities at June 30, 2024 relate to an energy and chemicals park asset in Chemicals and Products in Singapore and various smaller assets. The major classes of assets and liabilities classified as held for sale at June 30, 2024, are Inventories ($1,310 million; December 31, 2023: $463 million), Property, plant and equipment ($215 million; December 31, 2023: $250 million), Debt ($377 million; December 31, 2023: $84 million) and Decommissioning and other provisions ($329 million; December 31, 2023: $75 million).

Consolidated Statement of Cash Flows

Cash flow from operating activities - Other


Quarters			$ million	Half year
Q2 2024	Q1 2024	Q2 2023		2024	2023
2,027	509	954	Other	2,536	624

'Cash flow from operating activities - Other' for the second quarter 2024 includes $1,104 million inflow (first quarter 2024: zero; second quarter 2023: zero) representing reversal of the non-cash recycling of currency translation losses from other comprehensive income (refer to Interest and other income above). It also includes $620 million of net inflows (first quarter 2024: $188 million net inflows; second quarter 2023: $764 million net inflows) due to the timing of payments relating to emission certificates and biofuel programmes in Europe and North America.

Derivative financial instruments and debt excluding lease liabilities (Tables)

6 Months Ended

Jun. 30, 2024

Financial Instruments [Abstract]

Comparison of the Fair Value with the Carrying Amount of Debt Excluding Lease Liabilities

The table below provides the comparison of the fair value with the carrying amount of debt excluding lease liabilities, disclosed in accordance with IFRS 7 Financial Instruments: Disclosures.

DEBT EXCLUDING LEASE LIABILITIES


$ million
	June 30, 2024	December 31, 2023
Carrying amount	49,868	53,832
Fair value¹	45,803	50,866

1. Mainly determined from the prices quoted for these securities.

Other reserves - Summary of Other Reserves Attributable to Royal Dutch Shell Plc Shareholders (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disclosure Of Accumulated Other Comprehensive Income Loss [Line Items]
Other comprehensive income/(loss) attributable to Shell plc shareholders	$ 4,443	$ 5,937	$ 2,908	$ 10,381	$ 11,866
Repurchases of shares				(7,020)	(8,054)
Total
Disclosure Of Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance		21,145		21,145	21,132
Other comprehensive income/(loss) attributable to Shell plc shareholders				(494)	24
Transfer from other comprehensive income				170	(121)
Repurchases of shares				17	22
Share-based compensation				(213)	(203)
Ending balance	20,625		20,854	20,625	20,854
Merger reserve
Disclosure Of Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance		37,298		37,298	37,298
Other comprehensive income/(loss) attributable to Shell plc shareholders				0	0
Transfer from other comprehensive income				0	0
Repurchases of shares				0	0
Share-based compensation				0	0
Ending balance	37,298		37,298	37,298	37,298
Share premium reserve
Disclosure Of Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance		154		154	154
Other comprehensive income/(loss) attributable to Shell plc shareholders				0	0
Transfer from other comprehensive income				0	0
Repurchases of shares				0	0
Share-based compensation				0	0
Ending balance	154		154	154	154
Capital redemption reserve
Disclosure Of Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance		236		236	196
Other comprehensive income/(loss) attributable to Shell plc shareholders				0	0
Transfer from other comprehensive income				0	0
Repurchases of shares				17	22
Share-based compensation				0	0
Ending balance	253		220	253	220
Share plan reserve
Disclosure Of Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance		1,308		1,308	1,140
Other comprehensive income/(loss) attributable to Shell plc shareholders				0	0
Transfer from other comprehensive income				0	0
Repurchases of shares				0	0
Share-based compensation				(213)	(203)
Ending balance	1,095		936	1,095	936
Accumulated other comprehensive income
Disclosure Of Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance		$ (17,851)		(17,851)	(17,656)
Other comprehensive income/(loss) attributable to Shell plc shareholders				(494)	24
Transfer from other comprehensive income				170	(121)
Repurchases of shares				0	0
Share-based compensation				0	0
Ending balance	$ (18,175)		$ (17,752)	$ (18,175)	$ (17,752)

Share capital - Summary of Issued and Fully Paid Ordinary Shares (Details) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($) shares	Jun. 30, 2023 USD ($) shares	Jun. 30, 2024 € / shares	Jun. 30, 2023 € / shares
Disclosure of classes of share capital [line items]
Repurchases of shares	$ (7,020)	$ (8,054)
Share capital
Disclosure of classes of share capital [line items]
Beginning balance (in shares) \| shares	6,524,109,049	7,003,503,393
Beginning balance	$ 544	$ 584
Repurchases of shares (in shares) \| shares	(199,993,563)	(268,292,487)
Repurchases of shares	$ (17)	$ (22)
Ending balance (in shares) \| shares	6,324,115,486	6,735,210,906
Ending balance	$ 528
Share capital \| Ordinary shares
Disclosure of classes of share capital [line items]
Ending balance		$ 562
Class A Shares \| Share capital
Disclosure of classes of share capital [line items]
Par value per share (in eur per share) \| € / shares			€ 0.07	€ 0.07

Basis of preparation	6 Months Ended
Basis of preparation	Jun. 30, 2024
Disclosure Of Basis Of Preparation Of Financial Statements [Abstract]
Basis of preparation	Basis of preparation These unaudited Condensed Consolidated Interim Financial Statements of Shell plc (“the Company”) and its subsidiaries (collectively referred to as “Shell”) have been prepared in accordance with IAS 34 Interim Financial Reporting as issued by the International Accounting Standards Board ("IASB") and adopted by the UK, and on the basis of the same accounting principles as those used in the Company's Annual Report and Accounts (pages 244 to 316) for the year ended December 31, 2023, as filed with the Registrar of Companies for England and Wales and as filed with the Autoriteit Financiële Markten (the Netherlands) and Form 20-F (pages 217 to 290) for the year ended December 31, 2023 as filed with the US Securities and Exchange Commission, and should be read in conjunction with these filings. The financial information presented in the unaudited Condensed Consolidated Interim Financial Statements does not constitute statutory accounts within the meaning of section 434(3) of the Companies Act 2006 (“the Act”). Statutory accounts for the year ended December 31, 2023, were published in Shell's Annual Report and Accounts, a copy of which was delivered to the Registrar of Companies for England and Wales, and in Shell's Form 20-F. The auditor's report on those accounts was unqualified, did not include a reference to any matters to which the auditor drew attention by way of emphasis without qualifying the report and did not contain a statement under sections 498(2) or 498(3) of the Act. Going Concern These unaudited Condensed Consolidated Interim 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 December 31, 2025 (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 long-term demand, and cash preservation measures, including reduced cash capital expenditure and shareholder distributions. This 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 unaudited Condensed Consolidated Interim Financial Statements.

Other notes to the unaudited Condensed Consolidated Interim Financial Statements - Interest and Other Income (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Other notes to the unaudited Condensed Consolidated Interim Financial Statements [Abstract]
Interest and other income/(expenses)	$ (305)	$ 907	$ 813	$ 602	$ 1,294
Of which:
Interest income	616	588	599	1,204	1,100
Dividend income (from investments in equity securities)	30	23	29	53	29
Net gains/(losses) on sales and revaluation of non-current assets and businesses	143	10	65	154	110
Net foreign exchange gains/(losses) on financing activities	(1,169)	66	7	(1,103)	(229)
Other	$ 74	$ 219	$ 113	$ 293	$ 284

Reconciliation of income for the period to CCS Earnings, Operating expenses and Total Debt (Tables)

6 Months Ended

Jun. 30, 2024

Operating Segments [Abstract]

Summary of Reconciliation of CCS Earnings to Income

RECONCILIATION OF INCOME FOR THE PERIOD TO CCS EARNINGS


Quarters			$ million	Half year
Q2 2024	Q1 2024	Q2 2023		2024	2023
3,517	7,358	3,134	Income/(loss) attributable to Shell plc shareholders	10,874	11,843
133	82	20	Income/(loss) attributable to non-controlling interest	215	83
3,650	7,439	3,154	Income/(loss) for the period	11,089	11,926
			Current cost of supplies adjustment:
137	(332)	383	Purchases	(194)	1,030
(36)	84	(96)	Taxation	48	(267)
(5)	(28)	47	Share of profit/(loss) of joint ventures and associates	(33)	60
97	(276)	334	Current cost of supplies adjustment	(179)	823
			Of which:
89	(264)	326	Attributable to Shell plc shareholders	(175)	807
7	(12)	8	Attributable to non-controlling interest	(4)	16
3,747	7,163	3,488	CCS earnings	10,910	12,749
			Of which:
3,606	7,093	3,460	CCS earnings attributable to Shell plc shareholders	10,700	12,650
140	70	27	CCS earnings attributable to non-controlling interest	210	99

Summary of Reconciliation of Operating Expenses

RECONCILIATION OF OPERATING EXPENSES


Quarters			$ million	Half year
Q2 2024	Q1 2024	Q2 2023		2024	2023
5,593	5,810	6,041	Production and manufacturing expenses	11,403	12,049
3,094	2,975	3,314	Selling, distribution and administrative expenses	6,069	6,365
263	212	297	Research and development	475	550
8,950	8,997	9,653	Operating expenses	17,947	18,964

Summary of Reconciliation of Total Debt

RECONCILIATION OF TOTAL DEBT


Quarters			$ million	Half year
Q2 2024	Q1 2024	Q2 2023		2024	2023
June 30, 2024	March 31, 2024	June 30, 2023		June 30, 2024	June 30, 2023
10,849	11,046	12,114	Current debt	10,849	12,114
64,619	68,886	72,252	Non-current debt	64,619	72,252
75,468	79,931	84,366	Total debt	75,468	84,366

Other notes to the unaudited Condensed Consolidated Interim Financial Statements - Assets classified as held for sale (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Other notes to the unaudited Condensed Consolidated Interim Financial Statements [Abstract]
Assets classified as held for sale	$ 1,692	$ 951
Liabilities directly associated with assets classified as held for sale	$ 857	$ 307

Earnings per share - Schedule of Earnings per Share (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings per share [abstract]
Income/(loss) attributable to Shell plc shareholders	$ 3,517	$ 7,358	$ 3,134	$ 10,874	$ 11,843
Weighted average number of shares used as the basis for determining:
Basic earnings per share (in shares)	6,355.4	6,440.1	6,793.4	6,397.7	6,855.8
Diluted earnings per share (in shares)	6,417.6	6,504.3	6,854.2	6,461.0	6,917.8

CONDENSED CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Non-current assets
Goodwill	$ 16,538	$ 16,660
Other intangible assets	9,387	10,253
Property, plant and equipment	189,656	194,835
Joint ventures and associates	25,098	24,457
Investments in securities	2,972	3,246
Deferred tax	5,888	6,454
Retirement benefits1	9,454	9,151
Trade and other receivables	6,808	6,298
Derivative financial instruments	348	801
Non-current assets	266,150	272,155
Current assets
Inventories	26,449	26,019
Trade and other receivables	50,619	53,273
Derivative financial instruments	11,724	15,098
Cash and cash equivalents	38,148	38,774
Current assets other than non-current assets or disposal groups classified as held for sale or as held for distribution to owners	126,940	133,164
Assets classified as held for sale	1,692	951
Current assets	128,632	134,115
Total assets	394,783	406,270
Non-current liabilities
Debt	64,619	71,610
Trade and other payables	4,471	3,103
Derivative financial instruments	2,438	2,301
Deferred tax	15,293	15,347
Retirement benefits1	6,701	7,549
Decommissioning and other provisions	22,574	22,531
Non-current liabilities	116,096	122,441
Current liabilities
Debt	10,849	9,931
Trade and other payables	63,943	68,237
Derivative financial instruments	8,138	9,529
Income taxes payable	4,087	3,422
Decommissioning and other provisions	3,622	4,041
Current liabilities other than liabilities included in disposal groups classified as held for sale	90,639	95,160
Liabilities directly associated with assets classified as held for sale	857	307
Current liabilities	91,496	95,467
Total liabilities	207,592	217,908
Equity attributable to Shell plc shareholders	185,407	186,607
Non-controlling interest	1,783	1,755
Total equity	187,190	188,362
Total liabilities and equity	$ 394,783	$ 406,270