Document and Entity Information
Document and Entity Information | 12 Months Ended |
Dec. 31, 2022 shares | |
Statements | |
Entity Registrant Name | TotalEnergies SE |
Entity Central Index Key | 0000879764 |
Document Type | 20-F |
Document Period End Date | Dec. 31, 2022 |
Amendment Flag | false |
Current Fiscal Year End Date | --12-31 |
Document Fiscal Year Focus | 2022 |
Document Fiscal Period Focus | FY |
Entity Current Reporting Status | Yes |
Entity Voluntary Filers | No |
Entity Interactive Data Current | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Well-known Seasoned Issuer | Yes |
Entity Common Stock, Shares Outstanding | 2,619,131,285 |
Entity Shell Company | false |
Entity Emerging Growth Company | false |
Entity File Number | 1-10888 |
Entity Incorporation, State or Country Code | I0 |
Entity Address, Address Line One | 2, place Jean Millier |
Entity Address, Address Line Two | La Défense 6 |
Entity Address, City or Town | Courbevoie |
Entity Address, Country | FR |
Entity Address, Postal Zip Code | 92400 |
ICFR Auditor Attestation Flag | true |
Document Annual Report | true |
Document Transition Report | false |
Document Shell Company Report | false |
Document Registration Statement | false |
Document Accounting Standard | International Financial Reporting Standards |
Auditor Name | ERNST & YOUNG Audit and PricewaterhouseCoopers Audit |
Auditor Location | Joint Auditors |
Auditor Firm ID | 999999 |
PricewaterhouseCoopers Audit | |
Statements | |
Auditor Name | PricewaterhouseCoopers Audit |
Auditor Location | Neuilly sur Seine |
Auditor Firm ID | 1347 |
ERNST & YOUNG Audit | |
Statements | |
Auditor Name | ERNST & YOUNG Audit |
Auditor Location | Paris-La Défense |
Auditor Firm ID | 1692 |
Business Contact | |
Statements | |
Entity Address, Address Line One | 2, place Jean Millier |
Entity Address, Address Line Two | La Défense 6 |
Entity Address, City or Town | Courbevoie |
Entity Address, Country | FR |
Entity Address, Postal Zip Code | 92400 |
City Area Code | +33 |
Local Phone Number | (0)1 47 44 45 46 |
Contact Personnel Name | Jean-Pierre Sbraire |
Common shares | |
Statements | |
Title of 12(b) Security | Shares |
Security Exchange Name | NYSE |
No Trading Symbol Flag | true |
American Depositary Share | |
Statements | |
Title of 12(b) Security | American Depositary Shares |
Security Exchange Name | NYSE |
Trading Symbol | TTE |
CONSOLIDATED STATEMENT OF INCOM
CONSOLIDATED STATEMENT OF INCOME $ in Millions | 12 Months Ended | ||||
Dec. 31, 2022 USD ($) $ / shares | Dec. 31, 2022 € / shares | Dec. 31, 2021 USD ($) $ / shares | Dec. 31, 2021 € / shares | Dec. 31, 2020 USD ($) $ / shares | |
CONSOLIDATED STATEMENT OF INCOME | |||||
Sales | $ 280,999 | $ 205,863 | $ 140,685 | ||
Excise taxes | (17,689) | (21,229) | (20,981) | ||
Revenues from sales | 263,310 | 184,634 | 119,704 | ||
Purchases, net of inventory variation | (169,448) | (118,622) | (77,486) | ||
Other operating expenses | (29,789) | (26,894) | (25,538) | ||
Exploration costs | (1,299) | (740) | (731) | ||
Depreciation, depletion and impairment of tangible assets and mineral interests | (12,221) | (13,556) | (22,264) | ||
Other income | 2,849 | 1,312 | 2,237 | ||
Other expense | (7,344) | (2,317) | (1,506) | ||
Financial interest on debt | (2,386) | (1,904) | (2,147) | ||
Financial income and expense from cash & cash equivalents | 1,143 | 379 | 37 | ||
Cost of net debt | (1,243) | (1,525) | (2,110) | ||
Other financial income | 896 | 762 | 914 | ||
Other financial expense | (533) | (539) | (690) | ||
Net income (loss) from equity affiliates | (1,892) | 3,438 | 452 | ||
Income taxes | (22,242) | (9,587) | (318) | ||
CONSOLIDATED NET INCOME | 21,044 | 16,366 | (7,336) | ||
TotalEnergies share | 20,526 | 16,032 | (7,242) | ||
Non-controlling interests | $ 518 | $ 334 | $ (94) | ||
Earnings per share (in dollars or Euros per share) | (per share) | $ 7.91 | € 7.51 | $ 5.95 | € 5.03 | $ (2.90) |
Fully-diluted earnings per share (in dollars or Euros per share) | (per share) | $ 7.85 | € 7.45 | $ 5.92 | € 5.01 | $ (2.90) |
CONSOLIDATED STATEMENT OF COMPR
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME | |||
Consolidated net income | $ 21,044 | $ 16,366 | $ (7,336) |
Other comprehensive income | |||
Actuarial gains and losses | 574 | 1,035 | (212) |
Change in fair value of investments in equity instruments | 112 | 66 | 533 |
Tax effect | (96) | (411) | 65 |
Currency translation adjustment generated by the parent company | (4,976) | (7,202) | 7,541 |
Items not potentially reclassifiable to profit and loss | (4,386) | (6,512) | 7,927 |
Currency translation adjustment | 1,734 | 4,216 | (4,645) |
Cash flow hedge | (5,452) | 278 | (313) |
Variation of foreign currency basis spread | 65 | 2 | 28 |
Share of other comprehensive income of equity affiliates, net amount | 3,497 | 706 | (1,831) |
Other | (16) | (1) | (8) |
Tax effect | 1,449 | (135) | 72 |
Items potentially reclassifiable to profit and loss | 1,277 | 5,066 | (6,697) |
Total other comprehensive income (net amount) | (3,109) | (1,446) | 1,230 |
COMPREHENSIVE INCOME | 17,935 | 14,920 | (6,106) |
TotalEnergies share | 17,419 | 14,616 | (6,312) |
Non-controlling interests | $ 516 | $ 304 | $ 206 |
CONSOLIDATED BALANCE SHEET
CONSOLIDATED BALANCE SHEET $ in Millions | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) |
Non-current assets | |||
Intangible assets, net | $ 31,931 | $ 32,484 | $ 33,528 |
Property, plant and equipment, net | 107,101 | 106,559 | 108,335 |
Equity affiliates: investments and loans | 27,889 | 31,053 | 27,976 |
Other investments | 1,051 | 1,625 | 2,007 |
Non-current financial assets | 2,731 | 2,404 | 4,781 |
Deferred income taxes | 5,049 | 5,400 | 7,016 |
Other non-current assets | 2,388 | 2,797 | 2,810 |
Total non-current assets | 178,140 | 182,322 | 186,453 |
Current assets | |||
Inventories, net | 22,936 | 19,952 | 14,730 |
Accounts receivable, net | 24,378 | 21,983 | 14,068 |
Other current assets | 36,070 | 35,144 | 13,428 |
Current financial assets | 8,746 | 12,315 | 4,630 |
Cash and cash equivalents | 33,026 | 21,342 | 31,268 |
Assets classified as held for sale | 568 | 400 | 1,555 |
Total current assets | 125,724 | 111,136 | 79,679 |
TOTAL ASSETS | 303,864 | 293,458 | 266,132 |
Shareholders' equity | |||
Common shares | 8,163 | 8,224 | 8,267 |
Paid-in surplus and retained earnings | 123,951 | 117,849 | 107,078 |
Currency translation adjustment | (12,836) | (12,671) | (10,256) |
Treasury shares | (7,554) | (1,666) | (1,387) |
Total shareholders' equity - TotalEnergies share | 111,724 | 111,736 | 103,702 |
Non-controlling interests | 2,846 | 3,263 | 2,383 |
Total shareholders' equity | 114,570 | 114,999 | 106,085 |
Non-current liabilities | |||
Deferred income taxes | 11,021 | 10,904 | 10,326 |
Employee benefits | 1,829 | 2,672 | 3,917 |
Provisions and other non-current liabilities | 21,402 | 20,269 | 20,925 |
Non-current financial debt | 45,264 | 49,512 | 60,203 |
Total non-current liabilities | 79,516 | 83,357 | 95,371 |
Current liabilities | |||
Accounts payable | 41,346 | 36,837 | 23,574 |
Other creditors and accrued liabilities | 52,275 | 42,800 | 22,465 |
Current borrowings | 15,502 | 15,035 | 17,099 |
Other current financial liabilities | 488 | 372 | 203 |
Liabilities directly associated with the assets classified as held for sale | 167 | 58 | 1,335 |
Total current liabilities | 109,778 | 95,102 | 64,676 |
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY | $ 303,864 | $ 293,458 | $ 266,132 |
CONSOLIDATED STATEMENT OF CASH
CONSOLIDATED STATEMENT OF CASH FLOW - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
CASH FLOW FROM OPERATING ACTIVITIES | |||
Consolidated net income | $ 21,044 | $ 16,366 | $ (7,336) |
Depreciation, depletion, amortization and impairment | 13,680 | 14,343 | 22,861 |
Non-current liabilities, valuation allowances and deferred taxes | 4,594 | 962 | (1,782) |
(Gains) losses on disposals of assets | 369 | (454) | (909) |
Undistributed affiliates' equity earnings | 6,057 | (667) | 948 |
(Increase) decrease in working capital | 1,191 | (616) | 1,869 |
Other changes, net | 432 | 476 | (848) |
Cash flow from operating activities | 47,367 | 30,410 | 14,803 |
CASH FLOW USED IN INVESTING ACTIVITIES | |||
Intangible assets and property, plant and equipment additions | (15,690) | (12,343) | (10,764) |
Acquisitions of subsidiaries, net of cash acquired | (94) | (321) | (966) |
Investments in equity affiliates and other securities | (3,042) | (2,678) | (2,120) |
Increase in non-current loans | (976) | (1,247) | (1,684) |
Total expenditures | (19,802) | (16,589) | (15,534) |
Proceeds from disposals of intangible assets and property, plant and equipment | 540 | 770 | 740 |
Proceeds from disposals of subsidiaries, net of cash sold | 835 | 269 | 282 |
Proceeds from disposals of non-current investments | 577 | 722 | 578 |
Repayment of non-current loans | 2,734 | 1,172 | 855 |
Total divestments | 4,686 | 2,933 | 2,455 |
Cash flow used in investing activities | (15,116) | (13,656) | (13,079) |
CASH FLOW FROM FINANCING ACTIVITIES | |||
Issuance (repayment) of shares: Parent company shareholders | 370 | 381 | 374 |
Issuance (repayment) of shares: Treasury shares | (7,711) | (1,823) | (611) |
Dividends paid: Parent company shareholders | (9,986) | (8,228) | (6,688) |
Dividends paid: Non-controlling interests | (536) | (124) | (184) |
Net issuance of perpetual subordinated notes | 3,248 | 331 | |
Payments on perpetual subordinated notes | (339) | (313) | (315) |
Other transactions with non-controlling interests | (49) | 652 | (204) |
Net issuance (repayment) of non-current debt | 1,108 | (359) | 15,800 |
Increase (decrease) in current borrowings | (6,073) | (10,856) | (6,501) |
Increase (decrease) in current financial assets and liabilities | 3,944 | (8,075) | (604) |
Cash flow from / (used in) financing activities | (19,272) | (25,497) | 1,398 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 12,979 | (8,743) | 3,122 |
Effect of exchange rates | (1,295) | (1,183) | 794 |
Cash and cash equivalents at the beginning of the period | 21,342 | 31,268 | 27,352 |
CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD | $ 33,026 | $ 21,342 | $ 31,268 |
CONSOLIDATED STATEMENT OF CHANG
CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Millions | Shareholders' equity - TotalEnergies share | Common shares issued | Paid-in surplus and retained earnings | Currency translation adjustment | Treasury shares | Non-controlling interests | Total |
Equity as of the beginning of the period at Dec. 31, 2019 | $ 116,778 | $ 8,123 | $ 121,170 | $ (11,503) | $ (1,012) | $ 2,527 | $ 119,305 |
Common shares issued as of the beginning of the period at Dec. 31, 2019 | 2,601,881,075 | (15,474,234) | |||||
Net income | (7,242) | (7,242) | (94) | (7,336) | |||
Other comprehensive income | 930 | (321) | 1,251 | 300 | 1,230 | ||
COMPREHENSIVE INCOME | (6,312) | (7,563) | 1,251 | 206 | (6,106) | ||
Dividend | (7,899) | (7,899) | (234) | (8,133) | |||
Issuance of common shares | 1,614 | $ 144 | 1,470 | 1,614 | |||
Issuance of common shares (in shares) | 51,242,950 | ||||||
Purchase of treasury shares | (611) | $ (611) | (611) | ||||
Purchase of treasury shares (in shares) | (13,236,044) | ||||||
Sale of treasury shares | (236) | $ 236 | |||||
Sale of treasury shares (in shares) | 4,317,575 | ||||||
Share-based payments | 188 | 188 | 188 | ||||
Net issuance (repayment) of perpetual subordinated notes | 331 | 331 | 331 | ||||
Payments on perpetual subordinated notes | (308) | (308) | (308) | ||||
Other operations with non-controlling interests | (65) | (61) | (4) | (117) | (182) | ||
Other items | (14) | (14) | 1 | (13) | |||
Equity as of the end of the period at Dec. 31, 2020 | 103,702 | $ 8,267 | 107,078 | (10,256) | $ (1,387) | 2,383 | 106,085 |
Common shares issued as of the end of the period at Dec. 31, 2020 | 2,653,124,025 | (24,392,703) | |||||
Net income | 16,032 | 16,032 | 334 | 16,366 | |||
Other comprehensive income | (1,416) | 991 | (2,407) | (30) | (1,446) | ||
COMPREHENSIVE INCOME | 14,616 | 17,023 | (2,407) | 304 | 14,920 | ||
Dividend | (8,200) | (8,200) | (124) | (8,324) | |||
Issuance of common shares | 381 | $ 31 | 350 | 381 | |||
Issuance of common shares (in shares) | 10,589,713 | ||||||
Purchase of treasury shares | (1,823) | $ (1,823) | (1,823) | ||||
Purchase of treasury shares (in shares) | (37,306,005) | ||||||
Sale of treasury shares | (216) | $ 216 | |||||
Sale of treasury shares (in shares) | 4,573,195 | ||||||
Share-based payments | 143 | 143 | 143 | ||||
Share cancellation | $ (74) | (1,254) | $ 1,328 | ||||
Share cancellation (in shares) | (23,284,409) | 23,284,409 | |||||
Net issuance (repayment) of perpetual subordinated notes | 3,254 | 3,254 | 3,254 | ||||
Payments on perpetual subordinated notes | (368) | (368) | (368) | ||||
Other operations with non-controlling interests | 24 | 30 | (6) | 689 | 713 | ||
Other items | 7 | 9 | (2) | 11 | 18 | ||
Equity as of the end of the period at Dec. 31, 2021 | 111,736 | $ 8,224 | 117,849 | (12,671) | $ (1,666) | 3,263 | 114,999 |
Common shares issued as of the end of the period at Dec. 31, 2021 | 2,640,429,329 | (33,841,104) | |||||
Net income | 20,526 | 20,526 | 518 | 21,044 | |||
Other comprehensive income | (3,107) | (2,933) | (174) | (2) | (3,109) | ||
COMPREHENSIVE INCOME | 17,419 | 17,593 | (174) | 516 | 17,935 | ||
Dividend | (9,989) | (9,989) | (536) | (10,525) | |||
Issuance of common shares | 370 | $ 26 | 344 | 370 | |||
Issuance of common shares (in shares) | 9,367,482 | ||||||
Purchase of treasury shares | (7,711) | $ (7,711) | (7,711) | ||||
Purchase of treasury shares (in shares) | (140,207,743) | ||||||
Sale of treasury shares | (318) | $ 318 | |||||
Sale of treasury shares (in shares) | 6,195,654 | ||||||
Share-based payments | 229 | 229 | 229 | ||||
Share cancellation | $ (87) | (1,418) | $ 1,505 | ||||
Share cancellation (in shares) | (30,665,526) | 30,665,526 | |||||
Net issuance (repayment) of perpetual subordinated notes | (44) | (44) | (44) | ||||
Payments on perpetual subordinated notes | (331) | (331) | (331) | ||||
Other operations with non-controlling interests | 54 | 45 | 9 | 37 | 91 | ||
Other items | (9) | (9) | (434) | (443) | |||
Equity as of the end of the period at Dec. 31, 2022 | $ 111,724 | $ 8,163 | $ 123,951 | $ (12,836) | $ (7,554) | $ 2,846 | $ 114,570 |
Common shares issued as of the end of the period at Dec. 31, 2022 | 2,619,131,285 | (137,187,667) | 2,619,131,285 |
Notes to the Consolidated Finan
Notes to the Consolidated Financial Statements | 12 Months Ended |
Dec. 31, 2022 | |
Notes to the Consolidated Financial Statements | |
Notes to the Consolidated Financial Statements | On February 7, 2023, the Board of Directors established and authorized the publication of the Consolidated Financial Statements of TotalEnergies SE for the year ended December 31, 2022, which will be submitted for approval to the Shareholders’ Meeting to be held on May 26, 2023. Basis of preparation of the consolidated financial statements The Consolidated Financial Statements of TotalEnergies SE and its subsidiaries (the Company) are presented in U.S. dollars and have been prepared on the basis of IFRS (International Financial Reporting Standards) as adopted by the European Union and IFRS as issued by the IASB (International Accounting Standard Board) as of December 31, 2022. The accounting principles applied for the consolidated financial statements at December 31, 2022, were the same as those that were used for the financial statements at December 31, 2021, except for amendments and interpretations of IFRS which were mandatory for the periods beginning after January 1, 2022 (and not early adopted by TotalEnergies). Their application did not have a significant impact on the financial statements as of December 31, 2022. As of January 1, 2020, TotalEnergies early adopted the amendments to IFRS 7 and IFRS 9 relating to the interest rate benchmark reform phase II. In particular, these amendments allow to maintain the hedge accounting qualification of interest rate derivatives. As part of this transition, TotalEnergies set up a working group in order to cover all aspects relating to the IBOR reform and its impacts. As of December 31, 2022, the transition to IBOR indices had no notable impact on the financial instruments managed by TotalEnergies’s treasury, the main USD LIBOR maturities, including the 3-month USD LIBOR, continuing to be published until June 2023. In addition, the EONIA rate was published for the last time on January 3, 2022 and replaced by the ESTR rate. This change had a non-material impact on the remuneration of cash collateral exchanged with clearing houses. Bonds and associated derivatives impacted by the IBOR reform are presented in Note 15.1 “Financial debt and derivative financial instruments”. In this context, the financing contracts for the Company’s projects continue to be amended in accordance with the recommendations of regulators and according to the required schedule. Major judgments and accounting estimates The preparation of financial statements in accordance with IFRS for the closing as of December 31, 2022 requires the General Management to make estimates, assumptions and judgments that affect the information reported in the Consolidated Financial Statements and the Notes thereto. These estimates, assumptions and judgments are based on historical experience and other factors believed to be reasonable at the date of preparation of the financial statements. They are reviewed on an on-going basis by General Management and therefore could be revised as circumstances change or as a result of new information. Different estimates, assumptions and judgments could significantly affect the information reported, and actual results may differ from the amounts included in the Consolidated Financial Statements and the Notes thereto. The following summary provides further information about the key estimates, assumptions and judgments that are involved in preparing the Consolidated Financial Statements and the Notes thereto. It should be read in conjunction with the sections of the Notes mentioned in the summary. Ø Estimation of hydrocarbon reserves The estimation of oil and gas reserves is a key factor in the Successful Efforts method used by TotalEnergies to account for its oil and gas activities. TotalEnergies’ oil and gas reserves are estimated by TotalEnergies’ petroleum engineers in accordance with industry standards and SEC ( U.S. Securities and Exchange Commission) Proved oil and gas reserves are those quantities of oil and gas, which, by analysis of geosciences and engineering data, can be determined with reasonable certainty to be recoverable (from a given date forward, from known reservoirs, and under existing economic conditions, operating methods, and government regulations), prior to the time at which contracts providing the rights to operate expire, unless evidence indicates that renewal is reasonably certain, regardless of whether deterministic or probabilistic methods are used for the estimation. Proved oil and gas reserves are calculated using a 12-month average price determined as the unweighted arithmetic average of the first-day-of-the-month price for each month of the relevant year unless prices are defined by contractual arrangements, excluding escalations based upon future conditions. TotalEnergies reassesses its oil and gas reserves at least once a year on all its properties. The Successful Efforts method and the mineral interests and property, plant and equipment of exploration and production are presented in Note 7 “Intangible and tangible assets”. Ø Impairment of property, plant and equipment, intangible assets and goodwill As part of the determination of the recoverable value of assets for impairment (IAS 36), the estimates, assumptions and judgments mainly concern hydrocarbon prices scenarios, operating costs, production volumes and oil and gas proved and probable reserves, refining margins and product marketing conditions (mainly petroleum, petrochemical and chemical products as well as renewable industry products). The estimates and assumptions used by the executive management are determined in specialized internal departments in light of economic conditions and external expert analysis. The discount rate is reviewed annually. In 2020, in line with its new Climate Ambition announced on May 5, 2020, which aims at carbon neutrality, TotalEnergies had reviewed its oil assets that could be qualified as “stranded”, and therefore had decided to impair its oil sands assets in Canada. Impairment of assets and the method applied are described in Note 3 "Business segment information". Ø Climate change and energy transition Climate change and the energy transition were considered in preparing the Consolidated Financial Statements. They may have significant impacts on the value of TotalEnergies's assets and liabilities mentioned below, and on similar assets and liabilities that may be recognized in the future. TotalEnergies supports the goals of the 2015 Paris Agreement, which calls for reducing greenhouse gas emissions in the context of sustainable development and the fight against poverty, and which aims to keep the increase in average global temperatures well below 2°C compared to pre-industrial levels. TotalEnergies wants to rise to the dual challenge of meeting the energy needs of a growing world population while reducing global warming, and play an active role in the transformation that is underway in the energy industry, by transforming itself and becoming a broad energy company, capable of producing and selling the low-carbon molecules and electrons that the energy transition needs. TotalEnergies has embedded the changing energy markets into its strategy by investing in renewables and electricity, developing the production of biofuels, biogas and low-carbon hydrogen, favoring the use of natural gas, the transition fuel whose flexibility offers a lower carbon alternative to coal for electricity production and helps to mitigate the intermittency of solar and wind energies, targeting its investments in low-cost and low-emission oil, and developing nature-based carbon storage solutions as well as CO 2 TotalEnergies is committed to reducing its carbon footprint caused by the production, processing and supply of energy to its customers. Although the pace of the transition will depend on public policy, consumption patterns and resulting demand, TotalEnergies has set itself the mission to offer its customers energy products that are affordable and generate less CO 2 TotalEnergies’ ambition is to get to Net Zero by 2050, together with society. As in 2021, the Board of Directors submitted a Sustainability & Climate - Progress Report 2022 to a consultative vote of the Shareholders of TotalEnergies at the Combined Shareholders’ Meeting of May 25, 2022. This report gives an account of the progress made in the implementation of the Company’s ambition in terms of sustainable development and energy transition towards carbon neutrality, and with regards to its related objectives for 2030, and it also completes this ambition (resolution approved by 89% of votes). TotalEnergies evaluates the solidity of its portfolio, particularly new material capital expenditure investments, on the basis of relevant scenarios and sensitivity tests. Each material capex investment, including in the exploration, acquisition or development of oil and gas resources, as well as in other energies and technologies, is subject to an evaluation that takes into consideration the objectives of the Paris Agreement, each new investment thus enhancing the resilience of the Company’s portfolio. Economic criteria are analyzed as part of a price scenario for oil and gas that is compatible with the Paris agreement goals (Brent at 50$/b under the IEA APS scenario and Henry Hub at $3 per Mbtu). Even if CO2 pricing does not currently apply in all of the Company’s host countries, TotalEnergies includes as a base case in its investment criteria a minimum CO2 price of 100$/t (or the applicable price in a given country, if it is higher), and beyond 2028, the CO2 price is inflated by 2% per year. For investments in upstream oil & gas projects, TotalEnergies focuses on value creation and cash generation over volume, and the Company prioritizes projects with low technical costs (less than $20/b for operating costs plus investment costs) or low-breakeven points (less than $30/b, taxes included) and a profitability that exceeds an internally defined threshold. CCS and NBS projects are evaluated on the basis of the actual cost of one ton of CO2 (internal threshold in $/tCO2). As for projects in renewable energies, they are evaluated on their ability to generate a return on equity higher than 10%. All oil and gas projects must help to lower the average intensity of greenhouse gas emissions (Scope 1+2) in their respective category. Currently, that means: – For new oil and gas projects (greenfield and acquisitions), the intensity of Scope 1+2 greenhouse gas is compared depending on their nature, to the intensity of the average greenhouse gas to the Company’s Upstream production assets or that of various Downstream units (LNG plants, refineries). – For additional investments in existing assets (brownfield projects), the investment must lower the Scope 1+2 emissions intensity of the asset in question. – For projects involving other energies and technologies (biofuels, biogas, CCS, etc.), the greenhouse-gas emissions reductions are assessed based on their contribution to reducing the Company's emissions. Besides, as described in note 3. D "Impairment of assets", in order to ensure the resilience of its assets recognized on the balance sheet, the oil price trajectory retained by the Company for the computation of its impairments converges in the long term towards the price retained in 2050 by the IEA’s NZE scenario, i.e. $24.5 2022 The strategy is implemented in the long-term plan of the Company, which is forecasted for a 5-year period, updated every year, and approved by the Board of Directors. It reflects the economic environment, the ambition of the Company on carbon neutrality (Net Zero emissions) together with society, the related targets by 2030 and the current dynamics of energy transition, knowing that there is still significant uncertainty on the path to energy transition that the various countries will take. The financial statements of TotalEnergies are prepared in coherence with the main technical and economic assumptions of the long-term plan and the objectives stated above. They are also sensitive to various environmental considerations, including oil & gas prices and refining margins, as well as technical parameters, such as the estimation of hydrocarbons reserves. In particular, the selected assumptions and estimates have an impact on hydrocarbons reserves, the useful life of assets, the impairment of assets and provisions. Asset impairments The energy transition is likely to have an impact on future oil and gas prices and therefore on the recoverable amount of intangible assets and property, plant and equipment in the oil and gas industry. The principles applied in determining the recoverable amounts are as follows: - The future cash flows were determined using the assumptions included in the 2023 budget and in the long-term plan of the Company approved by the Executive Committee and the Board of Directors. These assumptions, in particular including operational costs, estimation of oil and gas reserves, future volumes produced and marketed, represent the best estimate from the Company Management of economic and technical conditions over the remaining life of the assets. - The Company, notably relying on data on global energy demand from the “World Energy Outlook” issued by the IEA since 2016, and on its own supply and demand assessments, determines oil & gas prices scenarios based on assumptions about the evolution of core indicators of the Upstream activity (demand for hydrocarbons in different markets, investment forecasts, decline in production fields, changes in oil & gas reserves and supply by area and by nature of oil & gas products), of the Downstream activity (changes in refining capacity and demand for petroleum products) and by integrating “climate” challenges. - These price scenarios, first prepared within the Strategy & Markets Division, are also reviewed with the Company segments which bring their own expertise. They also integrate studies issued by international agencies, banks and independent consultants. They are then approved by the Executive Committee and the Board of Directors. - The IEA 2022 World Energy Outlook anticipates three scenarios that are key references for the Company: the STEPS (Stated Policies Scenario) and APS (Announced Pledges Scenario) for the short/mid-term and the NZE (Net Zero Emissions by 2050) for the long-term. - The STEPS only includes climate actions already implemented to date around the world and those under development. The APS also takes into account climate ambitions declared to date in the world, including the NDCs (Nationally Determined Contributions) and carbon neutrality ambitions. It is considered by the IEA to be compatible with the Paris Agreement. The IEA's NZE is understood as the set of actions to be taken to be compatible with a 1.5°C scenario in 2050 (without overshooting). This normative scenario does not predict oil demand in the short and medium term, and therefore the price scenarios it proposes, particularly in the short and medium term, do not include a "realistic" evolution of demand. In fact, this scenario predicts that oil demand will fall by 20% between 2020 and 2030, whereas, according to the Company's projections and those of most energy companies and consultants, demand will stabilize between 2025 and 2030, before declining from 2030 onwards. - Beyond the 2020-2030 decade, the oil price trajectory retained by the Company converges in the long term, to the price retained in 2050 by the IEA's NZE scenario, i.e $24.5 2022 The oil price trajectories adopted by the Company are based on the following assumptions: - Oil demand has experienced sustained growth after the Covid crisis as the global economic recovery generated strong tensions on energy prices from mid-2021 onwards, exacerbated in 2022 by the war in Ukraine. Despite the risks of recession in Europe in particular, global liquid demand in 2023 is expected to be higher than in 2019 pre-crisis, notably thanks to the end of lockdown measures in China allowing the restart of industrial activity. It should continue to grow until 2030, in a context of sustained growth in global energy demand. Indeed, population growth and rising living standards, particularly in emerging countries, should sustain oil consumption, despite the gradual electrification of transport and efficiency gains in combustion engines, mainly in developed countries. As for oil supply, it is marked by historic production cuts decided (and implemented) by OPEP+ members and by the difficulties encountered by some non-OPEP+ producers. In the US, while production in 2023 is expected to be slightly higher than in 2019, doubts remain about the capacity for further growth in shale oil in subsequent years. The Company maintains its analysis that the weakness of investment oil upstream since 2015, accentuated by the health and economic crisis of 2020 and the natural decline of fields currently in production, leads to a global supply-demand balance that will remain tight until 2030. Thus the Brent price scenario used to determine the value in use of the CGUs assumes a stable price of $70 2022 - Beyond 2030, given technological developments, particularly in the transport sector, oil demand should have reached its peak and the selected price scenario decreases linearly to reach $50 2022 2022 The average Brent prices over the period 2023-2050 thus stands at $53.9 2022 For natural gas, the transition fuel, the price trajectory adopted by the Company is based on the following assumptions: - Natural gas demand in 2021 has exceeded its pre-crisis level with very strong tensions on prices in Europe and, by extension, in Asia through LNG prices, following the cuts in Russian pipe gas imports that began at the end of 2021 and continued in 2022 with the complete shutdown of the Nordstream. Global gas demand in 2022 is estimated to be almost at the level of 2021. The Company anticipates stable demand in 2023 with the recourse to American LNG to replace Russian gas in Europe, still in competition with Asia. The Company thus anticipates a return in 2023 to higher prices than before the crisis on the Asia, Europe and USA hubs, but not to the same levels as the highs reached in the third quarter of 2022. Thereafter, natural gas demand would be driven by the same fundamentals as oil (decrease in Europe but resistance in Asia-Pacific), plus its substitution for coal in power generation and by its role as a flexible and controllable source to mitigate the intermittent use and seasonality of renewable energies. The abundant global supply and the growth of liquefied natural gas would, however, limit the potential for higher gas prices. Beyond 2040, with the development of renewables including storage and hydrogen, gas demand is expected to stabilize. In this context, the gas price level used to determine the value in use of the CGUs concerned is as follows: - On the NBP quotation (Europe): $20 2022 /Mbtu in 2023, $17 2022 /Mbtu in 2024, $14 2022 /Mbtu in 2025, $11 2022 /Mbtu in 2026, then $8 2022 /Mbtu between 2027 and 2040. - On the Henry Hub quotation (United States): $3 2022 /Mbtu between 2023 and 2040. - On the DES Japan (Asia) quotation: $21 2022 /Mbtu in 2023, $18 2022 /Mbtu in 2024, $15 2022 /Mbtu in 2025, $12 2022 /Mbtu in 2026, then $9 2022 /Mbtu between 2027 and 2040. From 2040 onwards, the price trajectory converges towards the price retained in 2050 by the NZE scenario, i.e. $3.9 2022 2022 2022 The future operational costs were determined by taking into account the existing technologies, the fluctuation of prices for petroleum services in line with market developments and the internal cost reduction programs effectively implemented. The determination of value in use also takes into account on all assets a minimum CO 2 2 The future cash flows are estimated over a period consistent with the life of the assets of the CGUs. They are prepared post-tax and take into account specific risks related to the CGUs' assets. They are discounted using an 8% post-tax discount rate, this rate being the weighted-average cost of TotalEnergies capital estimated from historical market data. This rate was 7% in 2021 and 2020. The value in use calculated by discounting the above post-tax cash flows using an 8% post-tax discount rate is not materially different from the value in use calculated by discounting pre-tax cash flows using a pre-tax discount rate determined by an iterative computation from the post-tax value in use. These pre-tax discount rates generally range from 7% to 14%. Asset impairments are subject to sensitivity testing. In particular, upstream assets are tested as follows: ● Decreases of -10% and -20% in the hydrocarbon’s prices, over the duration of the price scenario. ● Consideration of a CO2 cost of $ 200 /t, inflated by 2% per year from 2028 onwards for all assets. ● Increase or decrease of 1% in the discount rate of future cash flows. Finally, in June 2020, TotalEnergies also reviewed its upstream assets that can be qualified as “stranded”, meaning with reserves beyond 20 years and high production costs, whose overall reserves may therefore not be produced by 2050. The only projects concerned are the Fort Hills and Surmont oil sands projects in Canada. TotalEnergies has decided to take only proved reserves into account for impairment testing on these two assets - contrary to general practice which considers proved and probable reserves - and to approve no new projects for increasing the capacity of these Canadian oil sand assets. The Company’s strategy of focusing new oil investments on low carbon intensity projects also led it to exit from extra heavy crude oil assets in Venezuela’s Orinoco Belt in 2021. The characteristics of TotalEnergies' portfolio mitigate the risk of having stranded assets in the future if a structural decline in demand for hydrocarbons occurs due to stricter global environmental regulations and constraints and a resulting change in consumer preferences. The Company will continue to review price assumptions as the energy transition progresses and this may result in additional impairment charges in the future. The effect of asset impairments on TotalEnergies' financial statements and the associated sensitivity calculations are detailed in note 3.D Asset impairment Exploration assets The energy transition could affect the future development or economic viability of certain exploration assets. TotalEnergies applies IFRS 6 “Exploration for and Evaluation of Mineral Resources”. Oil and gas exploration and production properties and assets are accounted for in accordance with the Successful Efforts method. Exploratory wells are capitalized and tested for impairment on an individual basis as follows: - Costs of exploratory wells which result in proved reserves are capitalized and then depreciated using the unit-of-production method based on proved developed reserves; - Costs of exploratory wells are capitalized as work in progress until proved reserves have been found, if both of the following conditions are met: ◾ The well has found a sufficient quantity of reserves to justify, if appropriate, its completion as a producing well, assuming that the required capital expenditures are made; ◾ TotalEnergies is making sufficient progress assessing the reserves and the economic and operating viability of the project. This progress is evaluated on the basis of indicators such as whether additional exploratory works are under way or firmly planned (wells, seismic or significant studies), whether costs are being incurred for development studies and whether TotalEnergies is waiting for governmental or other third-party authorization on a proposed project, or availability of capacity on an existing transport or processing facility. Costs of exploratory wells not meeting these conditions are charged to exploration costs. These assets will continue to be carefully reviewed as the energy transition progresses, in line with the resulting capital expenditure allocation policy. The effect of exploration activities on the financial statements of TotalEnergies is detailed in note 7.2 Property, plant and equipment. Intangible and tangible assets - depreciation and useful lives The energy transition may curtail the useful life of oil and gas assets, thereby increasing the annual depreciation charges related to these assets. The following accounting principles are applied to the hydrocarbon production assets of exploration and production activities: Unproved mineral interests are tested for impairment based on the results of the exploratory activity or as part of the impairment tests of the cash-generating units to which they are allocated. Unproved mineral interests are transferred to proved mineral interests at their net book value as soon as proved reserves are booked. Proved mineral interests are depreciated using the unit-of-production method based on proved reserves. The corresponding expense is recorded as depreciation of tangible assets and mineral interests. Development costs of oil and gas production facilities are capitalized. These costs include borrowing costs incurred during the period of construction and the present value of estimated future costs of asset retirement obligations. The depletion rate of development wells and of production assets is equal to the ratio of oil and gas production for the period to proved developed reserves (unit-of-production method). In the event that, due to the price effect on reserves evaluation, the unit-of-production method does not reflect properly the useful life of the asset, an alternative depreciation method is applied based on the reserves evaluated with the price of the previous year. This was the case for fiscal year 2020 where the method of unit-of-production depreciation was applied to all assets over 2020 based on proved reserves measured with the price used in 2019. As of December 31, 2021, and December 31, 2022, this alternative method is not applied as, given the price used to assess the reserves, the unit-of-production method correctly reflects the useful life of the assets. With respect to phased development projects or projects subject to progressive well production start-up, the fixed assets’ depreciable amount, excluding production or service wells, is adjusted to exclude the portion of development costs attributable to the undeveloped reserves of these projects. With respect to production sharing contracts, the unit-of-production method is based on the portion of production and reserves assigned to TotalEnergies taking into account estimates based on the contractual clauses regarding the reimbursement of exploration, development and production costs (cost oil/gas) as well as the sharing of hydrocarbon rights after deduction of cost oil (profit oil/gas). Hydrocarbon transportation and processing assets are depreciated using the unit-of-production method based on throughput or by using the straight-line method whichever best reflects the economic life of the asset. Given the characteristics of the Company’s portfolio of oil & gas assets, its current value on the balance sheet will be almost entirely depreciated by 2040. Consequently, TotalEnergies does not anticipate significant changes in the useful life of its existing oil and gas assets that would represent an element of significant judgment impacting its consolidated accounts in the future. The impact of the depreciation of oil and gas assets on the financial statements of TotalEnergies is detailed in notes 7.1 Intangible assets and 7.2 Property, plant and equipment. Asset retirement obligations The energy transition may bring forward asset retirement obligations of certain oil and gas assets, thereby increasing the present value of the associated provisions. Asset retirement obligations, which result from a legal or constructive obligation, are recognized based on a reasonable estimate in the period in which the obligation arises. The associated asset retirement costs are capitalized as part of the carrying amount of the underlying asset and depreciated over the useful life of this asset. An entity is required to measure changes in the liability for an asset retirement obligation due to the passage of time (accretion) by applying a discount rate to the amount of the liability. Given the long-term nature of expenditures related to our asset retirement obligations, the rate is determined by reference to the rates of high quality AA-rated corporate bonds on the USD area for a long-term horizon. The increase of the provision due to the passage of time is recognized as “Other financial expense”. The discount rate used for the valuation of asset retirement obligation is 4% in 2022 and 3% in 2021 and in 2020 (the expenses are estimated at current currency values with an inflation rate of 2% in 2022 and 1.5% in 2021 and in 2020). In upstream activities, in application of its internal procedures, TotalEnergies regularly reviews, on an asset-by-asset basis, the estimate of its future asset retirement costs, as well as the date at which work will be performed. The assets and liabilities recognized in respect of retirement obligations under these rules as described in note 12.1 Provisions and other non-current liabilities are adjusted accordingly. The Company will continue to review its estimates of both costs and the maturity of commitments on a regular basis and will take into account any significant impact that may result from changes in these parameters in the future. The effect of the asset retirement obligations on the financial statements of TotalEnergies and the associated sensitivity calculations are detailed in note 12.1 Provisions and other non-current liabilities. A maturity schedule of these obligations is presented in note 13.1 Off-balance sheet commitments and contractual obligations. Ø Employee benefits The benefit obligations and plan assets can be subject to significant volatility due in part to changes in market values and actuarial assumptions. These assumptions vary between different pension plans and thus take into account local conditions. They are determined following a formal process involving expertise and TotalEnergies internal judgments, in financial and actuarial terms, and also in consultation with actuaries and independent experts. The assumptions for each plan are reviewed annually and adjusted if necessary to reflect changes from the experience and actuarial advice. The discount rate is reviewed quarterly. Payroll, staff and employee benefits obligations and the method applied are described in Note 10 “Payroll, staff and employee benefits obligations”. Ø Asset retirement obligations Asset retirement obligations, which result from a legal or constructive obligation, are recognized based on a reasonable estimate in the period in which the obligation arises. This estimate is based on information available in terms of costs and work program. It is regularly reviewed to take into account the changes in laws and regulations, the estimates of reserves and production, the analysis of site conditions and technologies. The discount rate is reviewed annually. Asset retirement obligations and the method used are described in Note 12 “Provisions and other non-current liabilities”. Ø Income Taxes A tax liability is recognized when in application of a tax regulation, a future payment is considered probable and can be reasonably estimated. The exercise of judgment is required to assess the impact of new events on the amount of the liability. Deferred tax assets are recognized in the accounts to the extent that their recovery is considered probable. The amount of these assets is determined after taking into account deferred tax liabilities with comparable maturity, arising from the same entities and tax regimes. It takes into account existing taxable profits and future taxable profits which estimation is inherently uncertain and subject to change over time. The exercise of judgment is required to assess the impact of new events on the value of these assets and including changes in estimates of future taxable profits and the deadlines for their use. In addition, these tax positions may depend on interpretations of tax laws and regulations in the countries where TotalEnergies operates. These interpretations may have uncertain nature. Depending on the circumstances, they are final only after negotiations or resolution of disputes with authorities that can last several years. Incomes taxes and the accounting methods are described in Note 11 “Income taxes”. Ø Russian-Ukrainian conflict The consolidated financial statements as of December 31, 2022 are impacted by the Russian-Ukrainian conflict. Since February 2022, Russia’s invasion of Ukraine led European a |
General accounting principles
General accounting principles | 12 Months Ended |
Dec. 31, 2022 | |
General accounting principles | |
General accounting principles | Note 1 General accounting principles 1.1 Accounting principles A) Principles of consolidation Entities that are directly controlled by the parent company or indirectly controlled by other consolidated entities are fully consolidated. Investments in joint ventures are consolidated under the equity method. TotalEnergies accounts for joint operations by recognizing its share of assets, liabilities, income and expenses. Investments in associates, in which TotalEnergies has significant influence, are accounted for by the equity method. Significant influence is presumed when TotalEnergies holds, directly or indirectly (e.g. through subsidiaries), 20% or more of the voting rights. Companies in which ownership interest is less than 20%, but over which TotalEnergies is deemed to exercise significant influence, are also accounted for by the equity method. All internal balances, transactions and income are eliminated. B) Business combinations Business combinations are accounted for using the acquisition method. This method requires the recognition of the acquired identifiable assets and assumed liabilities of the companies acquired by TotalEnergies at their fair value. The purchase accounting of the acquisition is finalized up to a maximum of one year from the acquisition date. The acquirer shall recognize goodwill at the acquisition date, being the excess of: ▪ The consideration transferred, the amount of non-controlling interests and, in business combinations achieved in stages, the fair value at the acquisition date of the investment previously held in the acquired company; ▪ Over the fair value at the acquisition date of acquired identifiable assets and assumed liabilities. If the consideration transferred is lower than the fair value of acquired identifiable assets and assumed liabilities, an additional analysis is performed on the identification and valuation of the identifiable elements of the assets and liabilities. After having completed such additional analysis, any negative goodwill is recorded as income. Non-controlling interests are measured either at their proportionate share in the net assets of the acquired company or at fair value. In transactions with non-controlling interests, the difference between the price paid (received) and the book value of non-controlling interests acquired (sold) is recognized directly in equity. C) Foreign currency translation The presentation currency of TotalEnergies’ Consolidated Financial Statements is the US dollar. However, the functional currency of the parent company is the euro. The resulting currency translation adjustments are presented on the line "currency translation adjustment generated by the parent company" of the consolidated statement of comprehensive income, within "items not potentially reclassifiable to profit and loss". In the balance sheet, they are recorded in "currency translation adjustment". The financial statements of subsidiaries are prepared in the currency that most clearly reflects their business environment. This is referred to as their functional currency. Since July 1, 2018, Argentina is considered to be hyperinflationary. IAS 29 "Financial Reporting in Hyperinflationary Economies" is applicable to entities whose functional currency is the Argentine peso. The functional currency of the Argentine Exploration & Production subsidiary is the US dollar, therefore IAS 29 has no incidence on TotalEnergies accounts. Net asset of the other business segments is not significant. (i) Monetary transactions Transactions denominated in currencies other than the functional currency of the entity are translated at the exchange rate on the transaction date. At each balance sheet date, monetary assets and liabilities are translated at the closing rate and the resulting exchange differences are recognized in the statement of income. (ii) Translation of financial statements Assets and liabilities of entities denominated in currencies other than dollar are translated into dollar on the basis of the exchange rates at the end of the period. The income and cash flow statements are translated using the average exchange rates for the period. Foreign exchange differences resulting from such translations are either recorded in shareholders’ equity under “Currency translation adjustments” (for TotalEnergies share) or under “Non-controlling interests” (for the share of non-controlling interests) as deemed appropriate . 1.2 Significant accounting principles applicable in the future The expected impact of the standards or interpretations published respectively by the International Accounting Standards Board (IASB) and the International Financial Reporting Standards Interpretations Committee (IFRS IC) which were not yet in effect at December 31, 2022, is not material. |
Changes in TotalEnergies' perim
Changes in TotalEnergies' perimeter | 12 Months Ended |
Dec. 31, 2022 | |
Changes in TotalEnergies' perimeter | |
Changes in TotalEnergies' perimeter | Note 2 Changes in TotalEnergies’ perimeter 2.1 Main acquisitions and divestments In 2022, the main changes in TotalEnergies perimeter were as follows: Ø Integrated Gas, Renewables & Power ● On February 28, 2022, TotalEnergies has successfully been named a winner of maritime lease area OCS-A 0538 by the BOEM (Bureau of Ocean Energy Management) in the New York Bight auction in United States. Located up to 47 nautical miles (87 kilometers) from the coast, the lease covers a 132 square miles (341 square kilometer) area that could accommodate a generation capacity of at least 3 GW, enough to provide power to about one million homes. The project is expected to come online by 2028. ● In September 2022, TotalEnergies finalized the acquisition of 50% of Clearway Energy Group (CEG), the 5th US renewable energy player, with Global Infrastructure Partners (GIP). In the frame of this transaction, GIP received $1.6 billion in cash and an interest of 50% minus one share in the TotalEnergies subsidiary that holds a 50.5% ownership in SunPower Corporation, leader in residential solar in the U.S. These transactions had an impact of $1,391 million on TotalEnergies' net income, TotalEnergies’ share, and as of September 30, 2022, TotalEnergies' interests in Clearway Energy Group (CEG) and in TotalEnergies' subsidiary that holds a 50.5% ownership in SunPower are accounted for using the equity method. This impact is treated as an adjustment item. Ø Exploration & Production ● In January 2022, TotalEnergies has decided to initiate the contractual process of withdrawing from the Yadana field and from MGTC in Myanmar, both as operator and as shareholder, without any financial compensation for TotalEnergies. As a result, TotalEnergies registered an impairment of assets of $(201) million in operating income and of $(305) million in net income TotalEnergies’ share in the financial statements as of December 31, 2021. This withdrawal became effective on July 20, 2022. ● In February 2022, TotalEnergies announced its decision not to sanction and so to withdraw from the North Platte deepwater project in the US Gulf of Mexico. The decision not to continue with the project was taken as TotalEnergies has better opportunities of allocation of its capital within its global portfolio. An impairment of the project’s assets has been recorded in the consolidated financial statements of the first quarter of 2022, for an amount of $(957) million in net income, TotalEnergies’ share. - In April 2022, TotalEnergies finalized the acquisition of the Atapu and Sepia pre-salt oil fields offered by Brazil’s National Agency of Petroleum, Natural Gas and Biofuels (ANP) in the Transfer of Rights (ToR) Surplus bidding round, that took place in December 2021. The details of the acquisition are presented in Note 2.2 to the consolidated financial statements. - TotalEnergies holds a 19.4% stake in the company Novatek, a stake that it cannot sell given the prevailing shareholders’ agreements, as it is forbidden for TotalEnergies to sell any asset to one of Novatek's main shareholders who is under sanction. In view of the European sanctions in force since the beginning of the war, the two directors representing TotalEnergies on the board of directors of Novatek are led to abstain from voting in meetings of the board of directors of this company, in particular on financial matters. They are therefore no longer in a position to fully carry out their duties on the board which might become an issue for the governance of this company. Under these circumstances, on December 9, 2022, the Board of Directors of TotalEnergies has decided to withdraw the representatives of the Company from the Board of PAO Novatek with immediate effect. As a result, at the end of 2022, the criteria for significant influence no longer being met under IAS 28 “Investments in Associates and Joint Ventures”, TotalEnergies’ 19.4% stake in Novatek is no longer accounted for under the equity method in the Company’s consolidated financial statements. 2.2 Major business combinations Accounting principles In accordance with IFRS 3 “Business combinations”, TotalEnergies is assessing the fair value of identifiable acquired assets, liabilities and contingent liabilities on the basis of available information. This assessment will be finalised within 12 months following the acquisition date. Ø Exploration & Production ● Transfer of rights in the Atapu and Sepia fields in Brazil On April 26, 2022, Petrobras transferred to TotalEnergies 22.5% of the rights of the pre-salt Atapu oil field. Production started in 2020 and has reached a plateau of 160,000 barrels per day with a first Floating, Production, Storage and Offloading unit (FPSO). A second FPSO is planned to be sanctioned, which would increase the overall oil production of the field to around 350,000 b/d. On April 27, 2022, Petrobras also transferred to TotalEnergies 28% of the rights of the pre-salt Sepia oil field. Production started in 2021 and is targeting a plateau of 180,000 barrels per day with a first Floating, Production, Storage and Offloading unit (FPSO). A second FPSO is planned to be sanctioned, which would increase the overall oil production of the field to around 350,000 b/d. The preliminary purchase price allocation is shown below: (M$) At the acquisition date Intangible assets 543 Tangible assets 4,512 Other assets and liabilities (437) Fair value of consideration 4,618 2.3 Divestment projects Accounting principles Pursuant to IFRS 5 "Non-current assets held for sale and discontinued operations”, assets and liabilities of affiliates that are held for sale are presented separately on the face of the balance sheet. Depreciation of assets ceases from the date of classification in “Non-current assets held for sale”. As of December 31, 2022, there is no material divestment project recorded in “assets held for sale”. In line with its low-carbon strategy, TotalEnergies announced in September 2022 its intention to exit the Canadian oil sands through a spin-off of its subsidiary TotalEnergies EP Canada in 2023. The spin-off is expected to be submitted to the vote of the Annual General Meeting of Shareholders in May 2023. As of December 31, 2022, the subsidiary TotalEnergies EP Canada is not presented as an asset held for sale in the consolidated financial statements, as the transaction is notably subject to approval of TotalEnergies' shareholders in May 2023. |
Business segment information
Business segment information | 12 Months Ended |
Dec. 31, 2022 | |
Business segment information | |
Business segment information | Note 3 Business segment information Description of the business segments Financial information by business segment is reported in accordance with the internal reporting system and shows internal segment information that is used to manage and measure the performance of TotalEnergies and which is reviewed by the main operational decision-making body of TotalEnergies, namely the Executive Committee. The operational profit and assets are broken down by business segment prior to the consolidation and inter-segment adjustments. Sales prices between business segments approximate market prices. The organization of TotalEnergies’ activities is structured around the four following segments: - An Integrated Gas, Renewables & Power segment comprising integrated gas (including LNG) and low carbon electricity businesses. It includes the upstream and midstream LNG activity; - An Exploration & Production segment. Starting September 2021, it notably includes the carbon sink activity (carbon storage and nature-based solutions) that was previously reported in the Integrated Gas, Renewables & Power segment. Business segment information relating to fiscal year 2020 has not been restated due to the non-material impact of this change; - A Refining & Chemicals segment constituting a major industrial hub comprising the activities of refining, petrochemicals and specialty chemicals. This segment also includes the activities of oil Supply, Trading and marine Shipping; - A Marketing & Services segment including the global activities of supply and marketing in the field of petroleum products; In addition, the Corporate segment includes holdings operating and financial activities. Definition of the indicators (i) Operating income (measure used to evaluate operating performance) Revenue from sales after deducting cost of goods sold and inventory variations, other operating expenses, exploration expenses and depreciation, depletion, and impairment of tangible assets and mineral interests. Operating income excludes the amortization of intangible assets other than mineral interests, currency translation adjustments and gains or losses on the disposal of assets. (ii) Net operating income (measure used to evaluate the return on capital employed) Operating income after taking into account the amortization of intangible assets other than mineral interests, currency translation adjustments, gains or losses on the disposal of assets, as well as all other income and expenses related to capital employed (dividends from non-consolidated companies, income from equity accounted for affiliates, capitalized interest expenses…), and after income taxes applicable to the above. The only income and expense not included in net operating income but included in net income TotalEnergies share are interest expenses related to net financial debt, after applicable income taxes (net cost of net debt) and non-controlling interests. (iii) Adjusted income Operating income, net operating income, or net income excluding the effect of adjustment items described below. (iv) Capital employed Non-current assets and working capital, at replacement cost, net of deferred income taxes and non-current liabilities. (v) ROACE (Return on Average Capital Employed) Ratio of adjusted net operating income to average capital employed between the beginning and the end of the period. Performance indicators excluding the adjustment items, such as adjusted incomes and ROACE are meant to facilitate the analysis of the financial performance and the comparison of income between periods. Adjustment items Adjustment items include: (i) Special items Due to their unusual nature or particular significance, certain transactions qualified as “special items” are excluded from the business segment figures. In general, special items relate to transactions that are significant, infrequent or unusual. However, in certain instances, transactions such as restructuring costs or assets disposals, which are not considered to be representative of the normal course of business, may be qualified as special items although they may have occurred within prior years or are likely to occur again within the coming years. (ii) The inventory valuation effect The adjusted results of the Refining & Chemicals and Marketing & Services segments are presented according to the replacement cost method. This method is used to assess the segments’ performance and facilitate the comparability of the segments’ performance with those of its main competitors. In the replacement cost method, which approximates the LIFO (Last-In, First-Out) method, the variation of inventory values in the statement of income is, depending on the nature of the inventory, determined using either the month-end prices differential between one period and another or the average prices of the period rather than the historical value. The inventory valuation effect is the difference between the results according to the FIFO (First-In, First-Out) and the replacement cost methods. (iii) Effect of changes in fair value The effect of changes in fair value presented as adjustment items reflects for certain transactions differences between the internal measure of performance used by TotalEnergies' Executive Committee and the accounting for these transactions under IFRS. IFRS requires that trading inventories be recorded at their fair value using period end spot prices. In order to best reflect the management of economic exposure through derivative transactions, internal indicators used to measure performance include valuations of trading inventories based on forward prices. TotalEnergies, in its trading activities, enters into storage contracts, whose future effects are recorded at fair value in TotalEnergies' internal economic performance. IFRS precludes recognition of this fair value effect. Furthermore, TotalEnergies enters into derivative instruments to risk manage certain operational contracts or assets. Under IFRS, these derivatives are recorded at fair value while the underlying operational transactions are recorded as they occur. Internal indicators defer the fair value on derivatives to match with the transaction occurrence. The adjusted results (adjusted operating income, adjusted net operating income, adjusted net income) are defined as replacement cost results, adjusted for special items and the effect of changes in fair value. A) Information by business segment Integrated Gas, For the year ended December 31, 2022 Renewables Exploration & Refining & Marketing & (M$) & Power Production Chemicals Services Corporate Intercompany Total External sales 48,753 9,942 121,618 100,661 25 — 280,999 Intersegment sales 7,000 55,190 45,857 1,433 248 (109,728) — Excise taxes — — (737) (16,952) — — (17,689) Revenues from sales 55,753 65,132 166,738 85,142 273 (109,728) 263,310 Operating expenses (45,771) (24,521) (156,897) (81,746) (1,329) 109,728 (200,536) Depreciation, depletion and impairment of tangible assets and mineral interests (1,402) (8,115) (1,533) (1,033) (138) — (12,221) Operating income 8,580 32,496 8,308 2,363 (1,194) — 50,553 Net income (loss) from equity affiliates and other items 2,766 (9,943) 885 (20) 288 — (6,024) Tax on net operating income (1,712) (17,445) (2,544) (787) 281 — (22,207) Net operating income 9,634 5,108 6,649 1,556 (625) — 22,322 Net cost of net debt (1,278) Non-controlling interests (518) NET INCOME - TotalEnergies SHARE 20,526 Integrated For the year ended December 31, 2022 Gas, (adjustments) (a) Renewables Exploration & Refining & Marketing & (M$) & Power Production Chemicals Services Corporate Intercompany Total External sales 104 — — — — — 104 Intersegment sales — — — — — — — Excise taxes — — — — — — — Revenues from sales 104 — — — — — 104 Operating expenses 1,087 (985) 130 200 (600) — (168) Depreciation, depletion and impairment of tangible assets and mineral interests (122) 298 — (72) (9) — 95 Operating income (b) 1,069 (687) 130 128 (609) — 31 Net income (loss) from equity affiliates and other items (3,490) (10,925) (32) (23) 106 — (14,364) Tax on net operating income (89) (759) (751) (99) 141 — (1,557) Net operating income (b) (2,510) (12,371) (653) 6 (362) — (15,890) Net cost of net debt 277 Non-controlling interests (58) NET INCOME - TotalEnergies SHARE (15,671) (a) (b) On operating income — — 239 261 — On net operating income — — 336 194 — Integrated For the year ended December 31, 2022 Gas, (adjusted) Renewables Exploration & Refining & Marketing & (M$) & Power Production Chemicals Services Corporate Intercompany Total External sales 48,649 9,942 121,618 100,661 25 — 280,895 Intersegment sales 7,000 55,190 45,857 1,433 248 (109,728) — Excise taxes — — (737) (16,952) — — (17,689) Revenues from sales 55,649 65,132 166,738 85,142 273 (109,728) 263,206 Operating expenses (46,858) (23,536) (157,027) (81,946) (729) 109,728 (200,368) Depreciation, depletion and impairment of tangible assets and mineral interests (1,280) (8,413) (1,533) (961) (129) — (12,316) Adjusted operating income 7,511 33,183 8,178 2,235 (585) — 50,522 Net income (loss) from equity affiliates and other items 6,256 982 917 3 182 — 8,340 Tax on net operating income (1,623) (16,686) (1,793) (688) 140 — (20,650) Adjusted net operating income 12,144 17,479 7,302 1,550 (263) — 38,212 Net cost of net debt (1,555) Non-controlling interests (460) ADJUSTED NET INCOME - TotalEnergies SHARE 36,197 Integrated Gas, For the year ended December 31, 2022 Renewables Exploration & Refining & Marketing & (M$) & Power Production Chemicals Services Corporate Intercompany Total Total expenditures 6,475 10,646 1,391 1,186 104 — 19,802 Total divestments 3,427 807 214 222 16 — 4,686 Cash flow from operating activities 9,670 27,654 8,663 3,124 (1,744) — 47,367 Balance sheet as of December 31, 2022 Property, plant and equipment, intangible assets, net 30,885 87,833 11,525 8,120 669 — 139,032 Investments & loans in equity affiliates 20,869 2,138 4,431 451 — — 27,889 Other non-current assets 3,669 3,069 570 1,050 130 — 8,488 Working capital (432) (2,831) (3,293) (288) (3,393) — (10,237) Provisions and other non-current liabilities (5,250) (24,633) (3,760) (1,303) 694 — (34,252) Assets and liabilities classified as held for sale 155 208 — — - — 363 Capital Employed (Balance sheet) 49,896 65,784 9,473 8,030 (1,900) — 131,283 Less inventory valuation effect — — (2,035) (437) — — (2,472) CAPITAL EMPLOYED (BUSINESS SEGMENT INFORMATION) 49,896 65,784 7,438 7,593 (1,900) — 128,811 ROACE as a percentage 23 % 25 % 94 % 19 % 28 % Integrated Gas, For the year ended December 31, 2021 Renewables Exploration & Refining & Marketing & (M$) & Power Production Chemicals Services Corporate Intercompany Total External sales 30,704 7,246 87,600 80,288 25 — 205,863 Intersegment sales 4,260 34,896 27,637 451 254 (67,498) — Excise taxes — — (1,108) (20,121) — — (21,229) Revenues from sales 34,964 42,142 114,129 60,618 279 (67,498) 184,634 Operating expenses (29,964) (16,722) (108,982) (57,159) (927) 67,498 (146,256) Depreciation, depletion and impairment of tangible assets and mineral interests (1,650) (9,110) (1,583) (1,100) (113) — (13,556) Operating income 3,350 16,310 3,564 2,359 (761) — 24,822 Net income (loss) from equity affiliates and other items 2,745 (760) 518 108 45 — 2,656 Tax on net operating income (602) (7,506) (1,068) (738) 152 — (9,762) Net operating income 5,493 8,044 3,014 1,729 (564) — 17,716 Net cost of net debt (1,350) Non-controlling interests (334) NET INCOME - TotalEnergies SHARE 16,032 Integrated For the year ended December 31, 2021 Gas, (adjustments) (a) Renewables Exploration & Refining & Marketing & (M$) & Power Production Chemicals Services Corporate Intercompany Total External sales (44) — — — — — (44) Intersegment sales — — — — — — — Excise taxes — — — — — — — Revenues from sales (44) — — — — — (44) Operating expenses (271) (187) 1,470 278 — — 1,290 Depreciation, depletion and impairment of tangible assets and mineral interests (342) (418) (25) (36) — — (821) Operating income (b) (657) (605) 1,445 242 — — 425 Net income (loss) from equity affiliates and other items (215) (1,839) 56 (61) (54) — (2,113) Tax on net operating income 122 49 (396) (70) (67) — (362) Net operating income (b) (750) (2,395) 1,105 111 (121) — (2,050) Net cost of net debt 25 Non-controlling interests (3) NET INCOME - TotalEnergies SHARE (2,028) (a) (b) On operating income — — 1,481 315 — On net operating income — — 1,296 236 — Integrated For the year ended December 31, 2021 Gas, (adjusted) Renewables Exploration & Refining & Marketing & (M$) & Power Production Chemicals Services Corporate Intercompany Total External sales 30,748 7,246 87,600 80,288 25 — 205,907 Intersegment sales 4,260 34,896 27,637 451 254 (67,498) — Excise taxes — — (1,108) (20,121) — — (21,229) Revenues from sales 35,008 42,142 114,129 60,618 279 (67,498) 184,678 Operating expenses (29,693) (16,535) (110,452) (57,437) (927) 67,498 (147,546) Depreciation, depletion and impairment of tangible assets and mineral interests (1,308) (8,692) (1,558) (1,064) (113) — (12,735) Adjusted operating income 4,007 16,915 2,119 2,117 (761) — 24,397 Net income (loss) from equity affiliates and other items 2,960 1,079 462 169 99 — 4,769 Tax on net operating income (724) (7,555) (672) (668) 219 — (9,400) Adjusted net operating income 6,243 10,439 1,909 1,618 (443) — 19,766 Net cost of net debt (1,375) Non-controlling interests (331) AJUSTED NET INCOME - TotalEnergies SHARE 18,060 Integrated Gas, For the year ended December 31, 2021 Renewables Exploration & Refining & Marketing & (M$) & Power Production Chemicals Services Corporate Intercompany Total Total expenditures 6,341 7,276 1,638 1,242 92 — 16,589 Total divestments 1,350 894 348 319 22 — 2,933 Cash flow from operating activities 827 22,009 6,473 2,333 (1,232) — 30,410 Balance sheet as of December 31, 2021 Property, plant and equipment, intangible assets, net 31,525 86,418 11,884 8,578 638 — 139,043 Investments & loans in equity affiliates 20,501 6,337 3,729 486 — — 31,053 Other non-current assets 3,359 4,441 608 1,105 309 — 9,822 Working capital 5,058 (1,216) (2,558) 378 (4,220) — (2,558) Provisions and other non-current liabilities (4,495) (24,613) (3,840) (1,478) 581 — (33,845) Assets and liabilities classified as held for sale 30 308 — — — — 338 Capital Employed (Balance sheet) 55,978 71,675 9,823 9,069 (2,692) — 143,853 Less inventory valuation effect — — (1,754) (286) — — (2,040) CAPITAL EMPLOYED (BUSINESS SEGMENT INFORMATION) 55,978 71,675 8,069 8,783 (2,692) — 141,813 ROACE as a percentage 12 % 14 % 20 % 18 % 14 % Integrated Gas, For the year ended December 31, 2020 Renewables Exploration & Refining & Marketing & (M$) & Power Production Chemicals Services Corporate Intercompany Total External sales 15,629 4,973 56,615 63,451 17 — 140,685 Intersegment sales 2,003 18,483 17,378 357 223 (38,444) — Excise taxes — — (2,405) (18,576) — — (20,981) Revenues from sales 17,632 23,456 71,588 45,232 240 (38,444) 119,704 Operating expenses (15,847) (11,972) (70,524) (42,807) (1,049) 38,444 (103,755) Depreciation, depletion and impairment of tangible assets and mineral interests (2,312) (16,998) (1,878) (984) (92) — (22,264) Operating income (527) (5,514) (814) 1,441 (901) — (6,315) Net income (loss) from equity affiliates and other items 794 697 (393) 37 272 — 1,407 Tax on net operating income 71 (208) 59 (515) (67) — (660) Net operating income 338 (5,025) (1,148) 963 (696) — (5,568) Net cost of net debt (1,768) Non-controlling interests 94 NET INCOME - TotalEnergies SHARE (7,242) Integrated For the year ended December 31, 2020 Gas, (adjustments) (a) Renewables Exploration & Refining & Marketing & (M$) & Power Production Chemicals Services Corporate Intercompany Total External sales 20 — — — — — 20 Intersegment sales — — — — — — — Excise taxes — — — — — — — Revenues from sales 20 — — — — — 20 Operating expenses (423) (137) (1,552) (330) (60) — (2,502) Depreciation, depletion and impairment of tangible assets and mineral interests (953) (7,693) (306) — — — (8,952) Operating income (b) (1,356) (7,830) (1,858) (330) (60) — (11,434) Net income (loss) from equity affiliates and other items (382) 54 (677) (24) 107 — (922) Tax on net operating income 298 388 348 93 (145) — 982 Net operating income (b) (1,440) (7,388) (2,187) (261) (98) — (11,374) Net cost of net debt (29) Non-controlling interests 102 NET INCOME - TotalEnergies SHARE (11,301) (a) (b) On operating income — — (1,244) (196) — On net operating income — — (1,165) (137) — Integrated For the year ended December 31, 2020 Gas, (adjusted) Renewables Exploration & Refining & Marketing & (M$) & Power Production Chemicals Services Corporate Intercompany Total External sales 15,609 4,973 56,615 63,451 17 – 140,665 Intersegment sales 2,003 18,483 17,378 357 223 (38,444) – Excise taxes – – (2,405) (18,576) – – (20,981) Revenues from sales 17,612 23,456 71,588 45,232 240 (38,444) 119,684 Operating expenses (15,424) (11,835) (68,972) (42,477) (989) 38,444 (101,253) Depreciation, depletion and impairment of tangible assets and mineral interests (1,359) (9,305) (1,572) (984) (92) – (13,312) Adjusted operating income 829 2,316 1,044 1,771 (841) – 5,119 Net income (loss) from equity affiliates and other items 1,176 643 284 61 165 – 2,329 Tax on net operating income (227) (596) (289) (608) 78 – (1,642) Adjusted net operating income 1,778 2,363 1,039 1,224 (598) – 5,806 Net cost of net debt (1,739) Non-controlling interests (8) ADJUSTED NET INCOME - TotalEnergies SHARE 4,059 Integrated Gas, For the year ended December 31, 2020 Renewables Exploration & Refining & Marketing & (M$) & Power Production Chemicals Services Corporate Intercompany Total Total expenditures 6,230 6,782 1,325 1,052 145 — 15,534 Total divestments 1,152 819 149 158 177 — 2,455 Cash flow from operating activities 2,129 9,922 2,438 2,101 (1,787) — 14,803 Balance sheet as of December 31, 2020 Property, plant and equipment, intangible assets, net 30,704 89,207 12,486 8,734 732 — 141,863 Investments & loans in equity affiliates 16,455 7,328 3,638 555 — — 27,976 Other non-current assets 3,647 5,093 791 1,260 1,042 — 11,833 Working capital (1,004) 1,968 (264) (43) (4,470) — (3,813) Provisions and other non-current liabilities (4,566) (24,909) (4,658) (1,641) 606 — (35,168) Assets and liabilities classified as held for sale 375 241 (83) — — — 533 Capital Employed (Balance sheet) 45,611 78,928 11,910 8,865 (2,090) — 143,224 Less inventory valuation effect — — (535) (72) — — (607) CAPITAL EMPLOYED (BUSINESS SEGMENT INFORMATION) 45,611 78,928 11,375 8,793 (2,090) — 142,617 ROACE as a percentage 4 % 3 % 9 % 14 % 4 % B) Reconciliation of the information by business segment with Consolidated Financial Statements The table below presents the impact of adjustment items on the consolidated statement of income: Consolidated For the year ended December 31, 2022 statement of (M$) Adjusted Adjustments (a) income Sales 280,895 104 280,999 Excise taxes (17,689) — (17,689) Revenues from sales 263,206 104 263,310 Purchases, net of inventory variation (171,049) 1,601 (169,448) Other operating expenses (28,745) (1,044) (29,789) Exploration costs (574) (725) (1,299) Depreciation, depletion and impairment of tangible assets and mineral interests (12,316) 95 (12,221) Other income 1,349 1,500 2,849 Other expense (1,542) (5,802) (7,344) Financial interest on debt (2,386) — (2,386) Financial income and expense from cash & cash equivalents 746 397 1,143 Cost of net debt (1,640) 397 (1,243) Other financial income 812 84 896 Other financial expense (533) — (533) Net income (loss) from equity affiliates 8,254 (10,146) (1,892) Income taxes (20,565) (1,677) (22,242) CONSOLIDATED NET INCOME 36,657 (15,613) 21,044 TotalEnergies share 36,197 (15,671) 20,526 Non-controlling interests 460 58 518 (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. Consolidated For the year ended December 31, 2021 statement of (M$) Adjusted Adjustments (a) income Sales 205,907 (44) 205,863 Excise taxes (21,229) – (21,229) Revenues from sales 184,678 (44) 184,634 Purchases, net of inventory variation (120,160) 1,538 (118,622) Other operating expenses (26,754) (140) (26,894) Exploration costs (632) (108) (740) Depreciation, depletion and impairment of tangible assets and mineral interests (12,735) (821) (13,556) Other income 1,300 12 1,312 Other expense (944) (1,373) (2,317) Financial interest on debt (1,904) – (1,904) Financial income and expense from cash & cash equivalents 340 39 379 Cost of net debt (1,564) 39 (1,525) Other financial income 762 – 762 Other financial expense (539) – (539) Net income (loss) from equity affiliates 4,190 (752) 3,438 Income taxes (9,211) (376) (9,587) CONSOLIDATED NET INCOME 18,391 (2,025) 16,366 TotalEnergies share 18,060 (2,028) 16,032 Non-controlling interests 331 3 334 (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. Consolidated For the year ended December 31, 2020 statement of (M$) Adjusted Adjustments (a) income Sales 140,665 20 140,685 Excise taxes (20,981) – (20,981) Revenues from sales 119,684 20 119,704 Purchases, net of inventory variation (75,672) (1,814) (77,486) Other operating expenses (24,850) (688) (25,538) Exploration costs (731) – (731) Depreciation, depletion and impairment of tangible assets and mineral interests (13,312) (8,952) (22,264) Other income 1,405 832 2,237 Other expense (689) (817) (1,506) Financial interest on debt (2,140) (7) (2,147) Financial income and expense from cash & cash equivalents 68 (31) 37 Cost of net debt (2,072) (38) (2,110) Other financial income 914 – 914 Other financial expense (689) (1) (690) Net income (loss) from equity affiliates 1,388 (936) 452 Income taxes (1,309) 991 (318) CONSOLIDATED NET INCOME 4,067 (11,403) (7,336) TotalEnergies share 4,059 (11,301) (7,242) Non-controlling interests 8 (102) (94) (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. C) Additional information on adjustment items The main adjustment items for 2022 are the following: 1) An "Inventory valuation effect" amounting to $500 million in operating income and $501 million in net income TotalEnergies' share for the Refining & Chemicals and Marketing & Services segments; 2) The main adjustment items of the period are the following exceptional impairments and provisions related to Russia: ● In the first quarter, an impairment of $(4,095) million in net income, concerning notably Arctic LNG 2. ● In the second quarter, an impairment of $(3,513) million in net income mainly related to the potential impact of international sanctions on the value of the stake in Novatek and in the third quarter, an additional impairment of $(3,056) million in net income. ● In the fourth quarter, an impairment of $(4,092) million in net income following discontinuation of equity accounting of Novatek. In total, the impact of impairments and provisions recorded in 2022 in respect TotalEnergies’s assets in Russia amounts to $(14,756) million in net income, TotalEnergies share. 3) The adjustment items also include a $1,391 million gain on the partial disposal of TotalEnergies' interest in its subsidiary which owns 50.5% of Sunpower and on the revaluation of its retained interest which is accounted for using the equity method. The detail of the adjustment items is presented in the table below. Adjustments to operating income Integrated Gas, For the year ended December 31, 2022 Renewables Exploration & Refining & Marketing & (M$) & Power Production Chemicals Services Corporate Total Inventory valuation effect — – 239 261 – 500 Effect of changes in fair value 1,248 – – – – 1,248 Restructuring charges (25) – – (5) – (30) Asset impairment and provisions charges (126) (588) – (98) (9) (821) Gains (losses) on disposals of assets – – – – – – Other items (28) (99) (109) (30) (600) (866) TOTAL 1,069 (687) 130 128 (609) 31 Adjustments to net income, TotalEnergies share Integrated Gas, For the year ended December 31, 2022 Renewables Exploration & Refining & Marketing & (M$) & Power Production Chemicals Services Corporate Total Inventory valuation effect – – 323 178 – 501 Effect of changes in fair value 1,138 – – – – 1,138 Restructuring charges (28) – – (14) – (42) Asset impairment and provisions charges (4,481) (11,141) – (112) (9) (15,743) Gains (losses) on disposals of assets 1,391 – – – – 1,391 Other items (576) (1,093) (990) (60) (197) (2,916) TOTAL (2,556) (12,234) (667) (8) (206) (15,671) Adjustments to operating income Integrated Gas, For the year ended December 31, 2021 Renewables Exploration & Refining & Marketing & (M$) & Power Production Chemicals Services Corporate Total Inventory valuation effect – – 1,481 315 – 1,796 Effect of changes in fair value (217) – – – – (217) Restructuring charges (17) (59) (10) – – (86) Asset impairment and provisions charges (342) (356) (25) (36) – (759) Gains (losses) on disposals of assets – (170) — — – (170) Other items (81) (20) (1) (37) – (139) TOTAL (657) (605) 1,445 242 – 425 Adjustments to net income, TotalEnergies share Integrated Gas, For the year ended December 31, 2021 Renewables Exploration & Refining & Marketing & (M$) & Power Production Chemicals Services Corporate Total Inventory valuation effect – – 1,277 218 – 1,495 Effect of changes in fair value (194) – – – – (194) Restructuring charges (17) (75) (118) (44) (54) (308) Asset impairment and provisions charges (332) (500) (42) (36) – (910) Gains (losses) on disposals of assets (a) – (1,726) – – – (1,726) Other items (196) (51) (31) (40) (67) (385) TOTAL (739) (2,352) 1,086 98 (121) (2,028) (a) Of which $( 1,379 ) million relate to the impact of the TotalEnergies' interest sale of Petrocedeño to PDVSA. Adjustments to operating income Integrated Gas, For the year ended December 31, 2020 Renewables Exploration & Refining & Marketing & (M$) & Power Production Chemicals Services Corporate Total Inventory valuation effect – – (1,244) (196) – (1,440) Effect of changes in fair value 20 – – – – 20 Restructuring charges (39) (35) (30) – – (104) Asset impairment and provisions charges (953) (7,693) (306) – – (8,952) Other items (384) (102) (278) (134) (60) (958) TOTAL (1,356) (7,830) (1,858) (330) (60) (11,434) Adjustments to net income, TotalEnergies share Integrated Gas, For the year ended December 31, 2020 Renewables Exploration & Refining & Marketing & (M$) & Power Production Chemicals Services Corporate Total Inventory valuation effect – – (1,160) (120) — (1,280) Effect of changes in fair value 23 – – – – 23 Restructuring charges (43) (29) (292) – – (364) Asset impairment and provisions charges (829) (7,328) (306) (2) – (8,465) Gains (losses) on disposals of assets — — – – 104 104 Other items (566) — (423) (106) (224) (1,319) TOTAL (1,415) (7,357) (2,181) (228) (120) (11,301) D) Asset impairment Accounting principles The recoverable amounts of intangible assets and property, plant and equipment are tested for impairment as soon as any indication of impairment exists. This test is performed at least annually for goodwill. The recoverable amount is the higher of the fair value (less costs to sell) or the value in use. Assets are grouped into cash-generating units (or CGUs) and tested. A CGU is a homogeneous set of assets that generates cash inflows that are largely independent of the cash inflows from other groups of assets. The value in use of a CGU is determined by reference to the discounted expected future cash flows of these assets, based upon Management’s expectation of future economic and operating conditions. When this value is less than the carrying amount of the CGU, an impairment loss is recorded. This loss is allocated first to goodwill with a corresponding amount in "Other expenses". Any further losses are then allocated to property, plant and mineral interests with a corresponding amount in "Depreciation, depletion and impairment of tangible assets and mineral interests" and to other intangible assets with a corresponding amount in "Other expenses". Impairment losses recognized in prior periods can be reversed up to the original carrying amount, had the impairment loss not been recognized. Impairment losses recognized on goodwill cannot be reversed. Investments in associates or joint ventures are tested for impairment whenever indication of impairment exists. If any objective evidence of impairment exists, the carrying amount of the investment is compared with its recoverable amount, being the higher of its fair value less costs to sell and value in use. If the carrying amount exceeds the recoverable amount, an impairment loss is recorded in "Net income (loss) from equity affiliates". For the financial year 2022, asset impairments were recorded for an amount of $(821) million in operating income and $(15,743) million in net income, TotalEnergies share. These impairments were qualified as adjustment items of the operating income and net income, TotalEnergies share. Impairments relate to certain cash-generating units (CGUs) for which indicators of impairment have been identified, due to changes in operating conditions or the economic environment of the activities concerned. Principles for determining value in use of a CGU The principles applied are as follows: - The future cash flows were determined using the assumptions included in the 2023 budget and in the long-term plan of the Company approved by the Executive Committee and the Board of Directors. These assumptions, in particular including operational costs, estimation of oil and gas reserves, future volumes produced and marketed, represent the best estimate from the Company Managem |
Segment Information by geograph
Segment Information by geographical area | 12 Months Ended |
Dec. 31, 2022 | |
Segment Information by geographical area | |
Segment Information by geographical area | Note 4 Segment Information by geographical area Rest of North Rest of (M$) France Europe America Africa the world Total For the year ended December 31, 2022 External sales 58,411 122,641 33,188 24,582 42,177 280,999 Property, plant and equipment, intangible assets, net 13,080 26,382 13,292 39,410 46,867 139,032 Capital expenditures 1,632 2,743 5,304 3,253 6,870 19,802 For the year ended December 31, 2021 External sales 43,316 85,072 22,998 19,520 34,957 205,863 Property, plant and equipment, intangible assets, net 14,204 29,660 12,229 41,593 41,357 139,043 Capital expenditures 2,157 3,027 1,680 3,696 6,029 16,589 For the year ended December 31, 2020 External sales 32,748 67,292 13,258 16,011 11,376 140,685 Property, plant and equipment, intangible assets, net 14,555 30,932 11,891 43,087 41,398 141,863 Capital expenditures 2,044 3,165 899 3,816 5,610 15,534 |
Main items related to operating
Main items related to operating activities | 12 Months Ended |
Dec. 31, 2022 | |
Main items related to operating activities | |
Main items related to operating activities | Note 5 Main items related to operating activities Items related to the statement of income 5.1 Net sales Accounting principles IFRS 15 requires identification of the performance obligations for the transfer of goods and services in each contract with customers. Revenue is recognized upon satisfaction of the performance obligations for the amounts that reflect the consideration to which TotalEnergies expects to be entitled in exchange for those goods and services. Sales of goods Revenues from sales are recognized when the control has been transferred to the buyer and the amount can be reasonably measured. Revenues from sales of crude oil and natural gas are recorded upon transfer of title, according to the terms of the sales contracts. Revenues from the production of crude oil and natural gas properties, in which TotalEnergies has an interest with other producers, are recognized based on actual entitlement volumes sold over the period. Any difference between entitlement volumes and volumes sold, based on TotalEnergies net working interest, are recognized in the “Under-lifting” and “Over-lifting” accounts in the balance sheet and in operating expenses in the profit and loss. Oil and gas delivered quantities that represent production royalties and taxes, when paid in cash, are included in revenues, except for the United States and Canada. Certain transactions within the trading activities (contracts involving quantities that are purchased from third parties then resold to third parties) are shown at their net value in purchases, net of inventory variation. These transactions relate in particular to crude oil, petroleum products, gas, power and LNG. Exchanges of crude oil and petroleum products realized within trading activities are shown at their net value in both the statement of income and the balance sheet. Sales of services Revenues from services are recognized when the services have been rendered. Revenues from gas transport are recognized when services are rendered. These revenues are based on the quantities transported and measured according to procedures defined in each service contract. Shipping revenues and expenses from time-charter activities are recognized on a pro rata basis over a period that commences upon the unloading of the previous voyage and terminates upon the unloading of the current voyage. Shipping revenue recognition starts only when a charter has been agreed to by both TotalEnergies and the customer. Income related to the distribution of electricity and gas is not recognized in revenues in certain countries because TotalEnergies acts as an agent in this transaction. In these countries, TotalEnergies is not responsible for the delivery and does not set the price of the service, because it can only pass on to the customer the amounts invoiced to it by the distributors. Excise taxes Excise taxes are rights or taxes which amount is calculated based on the quantity of oil and gas products put on the market. Excise taxes are determined by the states. They are paid directly to the customs and tax authorities and then invoiced to final customers by being included in the sales price. The analysis of the criteria set by IFRS 15 led TotalEnergies to determine that it was acting as principal in these transactions. Therefore, sales are presented on a gross basis, including excise taxes collected by TotalEnergies within the course of its oil distribution operations. In addition, the subtotal “Revenue from Sales” is presented as an additional line item in the P&L and is obtained by deducting Excise tax expenses from Sales. 5.2 Operating expenses and research and development Accounting principles TotalEnergies applies IFRS 6 “Exploration for and Evaluation of Mineral Resources”. Oil and gas exploration and production properties and assets are accounted for in accordance with the Successful Efforts method. Geological and geophysical costs, including seismic surveys for exploration purposes are expensed as incurred in exploration costs. Costs of dry wells and wells that have not found proved reserves are charged to expense in exploration costs. 5.2.1 Operating expenses For the year ended December 31, (M$) 2022 2021 2020 Purchases, net of inventory variation (a) (b) (169,448) (118,622) (77,486) Exploration costs (1,299) (740) (731) Other operating expenses (c) (29,789) (26,894) (25,538) of which non-current operating liabilities (allowances) reversals 1,086 1,299 778 of which current operating liabilities (allowances) reversals (188) (30) (77) OPERATING EXPENSES (200,536) (146,256) (103,755) (a) Includes taxes paid on oil and gas production in the Exploration & Production segment, amongst others, royalties. (b) TotalEnergies values under / over lifting at market value. (c) Principally composed of production and administrative costs (see in particular the payroll costs as detailed in Note 10 to the Consolidated Financial Statements “Payroll, staff and employee benefits obligations"). 5.2.2 Research and development costs Accounting principles Research costs are charged to expense as incurred. Development expenses are capitalized when the criteria of IAS 38 are met. Research and development costs incurred by TotalEnergies in 2022 and booked in operating expenses (excluding depreciations) amount to $762 million ($824 million in 2021 and $895 million in 2020), corresponding to 0.27% of the sales. At constant foreign exchange rates, research and development costs increased by 4% in 2022. The staff dedicated in 2022 to these research and development activities are estimated at 3,536 people (3,830 in 2021 and 4,088 in 2020). 5.3 Amortization, depreciation and impairment of tangible assets and mineral interests The amortization, depreciation and impairment of tangible assets and mineral interests are detailed as follows: For the year ended December 31, (M$) 2022 2021 2020 Depreciation and impairment of tangible assets (11,128) (12,683) (21,188) Amortization and impairment of mineral assets (1,093) (873) (1,076) TOTAL (12,221) (13,556) (22,264) Items related to balance sheet 5.4 Working capital 5.4.1 Inventories Accounting principles Inventories are measured in the Consolidated Financial Statements at the lower of historical cost or market value. Costs for petroleum and petrochemical products are determined according to the FIFO (First-In, First-Out) method or weighted-average cost method and other inventories are measured using the weighted-average cost method. In addition stocks held for trading are measured at fair value less cost to sell. Refining & Chemicals Petroleum product inventories are mainly comprised of crude oil and refined products. Refined products principally consist of gasoline, distillate and fuel produced by TotalEnergies' refineries. The turnover of petroleum products does not exceed two months on average. Crude oil costs include raw material and receiving costs. Refining costs principally include crude oil costs, production costs (energy, labor, depreciation of producing assets) and an allocation of production overheads (taxes, maintenance, insurance, etc.). Costs of chemical product inventories consist of raw material costs, direct labor costs and an allocation of production overheads. Start-up costs, general administrative costs and financing costs are excluded from the costs of refined and chemicals products. Marketing & Services The costs of products refined by TotalEnergies' entities include mainly raw materials costs, production costs (energy, labor, depreciation of producing assets), primary costs of transport and an allocation of production overheads (taxes, maintenance, insurance, etc.). General administrative costs and financing costs are excluded from the cost price of refined products. Product inventories purchased from entities external to TotalEnergies are valued at their purchase cost plus primary costs of transport. Carbon dioxide emission rights generated as part of the EU Emission Trading scheme (EU ETS) In the absence of a current IFRS standard or interpretation on accounting for emission rights of carbon dioxide generated as part of the EU Emission Trading scheme (EU ETS), the following principles are applied: - Emission rights are managed as a cost of production and as such are recognized in inventories: ● Emission rights allocated for free are booked in inventories with a nil carrying amount; ● Purchased emission rights are booked at acquisition cost; ● Sales or annual surrender of emission rights result in decreases in inventories valued at weighted-average cost; ● If the carrying amount of inventories at closing date is higher than the market value, an impairment loss is recorded. - If emission rights to be surrendered at the end of the compliance period are higher than emission rights (allocated and purchased), the shortage is accounted for as a liability at market value; - Forward transactions are recognized at their fair market value in the balance sheet. Changes in the fair value of such forward transactions are recognized in the statement of income. Energy savings certificates In the absence of current IFRS standards or interpretations on accounting for energy savings certificates (ESC), the following principles are applied: - If the obligations linked to the sales of energy are greater than the number of ESC’s held then a liability is recorded. These liabilities are valued based on the price of the last transactions; - In the event that the number of ESC’s held exceeds the obligation at the balance sheet date this is accounted for as inventory. Otherwise a valuation allowance is recorded ; - ESC inventories are valued at weighted-average cost (acquisition cost for those ESC’s acquired or cost incurred for those ESC’s generated internally). If the carrying value of the inventory of certificates at the balance sheet date is higher than the market value, an impairment loss is recorded. As of December 31, 2022 Valuation (M$) Gross value allowance Net value Crude oil and natural gas 4,758 (47) 4,711 Refined products 6,386 (162) 6,224 Chemicals products 1,635 (93) 1,542 Trading inventories 6,672 – 6,672 Other inventories 4,797 (1,010) 3,787 TOTAL 24,248 (1,312) 22,936 As of December 31, 2021 Valuation (M$) Gross value allowance Net value Crude oil and natural gas 3,221 (7) 3,214 Refined products 5,411 (50) 5,361 Chemicals products 1,519 (98) 1,421 Trading inventories 6,501 – 6,501 Other inventories 4,538 (1,083) 3,455 TOTAL 21,190 (1,238) 19,952 As of December 31, 2020 Valuation (M$) Gross value allowance Net value Crude oil and natural gas 1,818 (1) 1,817 Refined products 3,913 (68) 3,845 Chemicals products 1,330 (102) 1,228 Trading inventories 5,130 – 5,130 Other inventories 3,824 (1,114) 2,710 TOTAL 16,015 (1,285) 14,730 Changes in the valuation allowance on inventories are as follows: Currency Valuation translation Valuation For the year ended December 31, allowance as of adjustment and allowance as of (M$) January 1, Increase (net) other variations December 31, 2022 (1,238) (121) 47 (1,312) 2021 (1,285) (36) 83 (1,238) 2020 (1,174) (85) (26) (1,285) 5.4.2 Accounts receivable and other current assets As of December 31, 2022 Valuation (M$) Gross value allowance Net value Accounts receivable 25,204 (826) 24,378 Recoverable taxes 6,295 (32) 6,263 Other operating receivables 28,582 (293) 28,289 Prepaid expenses 1,455 – 1,455 Other current assets 63 – 63 Other current assets 36,395 (325) 36,070 As of December 31, 2021 Valuation (M$) Gross value allowance Net value Accounts receivable 22,776 (793) 21,983 Recoverable taxes 3,713 (54) 3,659 Other operating receivables 29,767 (214) 29,553 Prepaid expenses 1,879 – 1,879 Other current assets 53 – 53 Other current assets 35,412 (268) 35,144 As of December 31, 2020 Valuation (M$) Gross value allowance Net value Accounts receivable 14,899 (831) 14,068 Recoverable taxes 3,598 (67) 3,531 Other operating receivables 8,251 (208) 8,043 Prepaid expenses 1,801 – 1,801 Other current assets 53 – 53 Other current assets 13,703 (275) 13,428 Changes in the valuation allowance on “Accounts receivable” and “Other current assets” are as follows: Currency Valuation translation Valuation allowance as of adjustments and allowance as of For the year ended December 31, January 1, Increase (net) other variations December 31, Accounts receivable 2022 (793) (98) 65 (826) 2021 (831) (24) 62 (793) 2020 (674) (107) (50) (831) Other current assets 2022 (268) (83) 26 (325) 2021 (275) (10) 17 (268) 2020 (335) 37 23 (275) As of December 31, 2022, the net portion of the overdue receivables included in “Accounts receivable” and “Other current assets” was $5,481 million, of which $3,328 million was due less than 90 days, $672 million was due between 90 days and 6 months, $571 million was due between 6 and 12 months and $910 million was due after 12 months. As of December 31, 2021, the net portion of the overdue receivables included in "Accounts receivable" and "Other current assets" was $4,482 million, of which $2,844 million was due less than 90 days, $260 million was due between 90 days and 6 months, $556 million was due between 6 and 12 months and $823 million was due after 12 months. As of December 31, 2020, the net portion of the overdue receivables included in “Accounts receivable” and “Other current assets” was $4,197 million, of which $2,140 million was due less than 90 days, $239 million was due between 90 days and 6 months, $553 million was due between 6 and 12 months and $1,265 million was due after 12 months. 5.4.3 Other creditors and accrued liabilities As of December 31, 2022 2021 2020 Accruals and deferred income 737 3,744 842 Payable to States (including taxes and duties) 14,780 10,281 5,734 Payroll 1,572 1,481 1,587 Other operating liabilities 35,186 27,294 14,302 TOTAL 52,275 42,800 22,465 As of December 31, 2022, the heading “Other operating liabilities” notably includes the second quarterly interim dividend for the fiscal year 2022 for $1,857 million, which was paid in January 2023 and the third quarterly interim dividend for the fiscal year 2022 for $1,827 million, which will be paid in April 2023. As of December 31, 2021, the heading “Other operating liabilities” notably included the second quarterly interim dividend for the fiscal year 2021 for $1,974 million, which was paid in January 2022 and the third quarterly interim dividend for the fiscal year 2021 for $1,948 million, which was paid in April 2022. As of December 31, 2020, the heading "Other operating liabilities" notably included the second quarterly interim dividend for the fiscal year 2020 for $2,129 million, which was paid in January 2021 and the third quarterly interim dividend for the fiscal year 2020 for $2,149 million, which was paid in April 2021. Items related to the cash flow statement 5.5 Cash flow from operating activities Accounting principles The Consolidated Statement of Cash Flows prepared in currencies The following table gives additional information on cash paid or received in the cash flow from operating activities. Detail of interest, taxes and dividends For the year ended December 31, 2022 2021 2020 Interests paid (2,292) (1,886) (2,145) Interests received 655 284 197 Income tax paid (a) (14,486) (4,508) (2,858) Dividends received 3,955 2,346 1,444 (a) These amounts include taxes paid in kind under production-sharing contracts in exploration and production activities. Detail of changes in working capital For the year ended December 31, 2022 2021 2020 Inventories (3,805) (5,903) 2,274 Accounts receivable (3,272) (6,788) 4,818 Other current assets (3,523) (21,026) 3,374 Accounts payable 5,313 12,073 (5,355) Other creditors and accrued liabilities 6,478 21,028 (3,242) NET AMOUNT, DECREASE (INCREASE) 1,191 (616) 1,869 Detail of changes in provisions and deferred taxes As of December 31, 2022 2021 2020 Accruals 2,177 (467) 350 Deferred taxes 2,417 1,429 (2,132) TOTAL 4,594 962 (1,782) |
Other items from operating acti
Other items from operating activities | 12 Months Ended |
Dec. 31, 2022 | |
Other items from operating activities | |
Other items from operating activities | Note 6 Other items from operating activities 6.1 Other income and other expense For the year ended December 31, 2022 2021 2020 Gains on disposal of assets 2,244 890 961 Foreign exchange gains 379 227 746 Other 226 195 530 OTHER INCOME 2,849 1,312 2,237 Losses on disposal of assets (2,613) (436) (52) Foreign exchange losses (1,023) (702) (320) Amortization of other intangible assets (excl. mineral interests) (430) (448) (343) Other (3,278) (731) (791) OTHER EXPENSE (7,344) (2,317) (1,506) Other income In 2022, gains on disposal of assets are mainly related to the partial disposal of TotalEnergies’ interest in its subsidiary which owns 50.5% of SunPower and the revaluation of its retained interest which is accounted for using the equity method for $1,461 million in the segment Integrated Gas, Renewables & Power. In 2021, gains on disposal of assets included the sale of interests in onshore Oil Mining Lease 17 in Nigeria in the Exploration & Production segment, the sale of interests in two portfolios of renewable assets in the Gas Renewables & Power segment, and the sale of a part of TotalEnergies’ investment in Trapil in the Refining & Chemicals and Marketing & Services segments. In 2020, gains on disposal of assets mainly related to the sale of non-strategic assets in the British North Sea in the Exploration & Production segment, to the sale of TotalEnergies’ interest in the Fos Cavaou regasification terminal in France and the sale of infrastructure assets in the Integrated Gas Renewables & Power segment, as well as to the sale of real estate in Belgium in the Holding segment. Other expense In 2022, losses on disposal of assets are mainly related to the recycling in expenses of Exploration & Production, of an amount of $2,384 million representing the accumulated foreign exchange losses accumulated in equity since the acquisition of the Novatek stake and until its deconsolidation date. The heading "Other" notably includes provisions relating to assets in Russia in the Integrated Gas, Renewables & Power and Exploration-Production segments. In 2021, the losses on disposal were mainly related to the sale of the Utica asset in the United States as well as the sale of interests in non-operated assets and the Cap Lopez oil terminal in Gabon in the Exploration & Production segment. The heading “Other” mainly consists of the restructuring charges in the Exploration & Production, Refining & Chemicals, Marketing & Services and Holding segments for an amount of $288 million, and of the impairment of non-consolidated shares and provision for financial risks for $238 million. In 2020, the heading “Other” notably consisted of restructuring charges in the Exploration & Production, Integrated Gas Renewables & Power and Refining & Chemicals segments for an amount of $312 million, and of the impairment of non-consolidated shares and loans granted to non-consolidated subsidiaries for an amount of $64 million. 6.2 Other financial income and expense As of December 31, 2022 2021 2020 Dividend income on non-consolidated subsidiaries 159 203 160 Capitalized financial expenses 310 134 110 Other 427 425 644 OTHER FINANCIAL INCOME 896 762 914 Accretion of asset retirement obligations (430) (449) (607) Other (103) (90) (83) OTHER FINANCIAL EXPENSE (533) (539) (690) 6.3 Other non-current assets As of December 31, 2022 Valuation (M$) Gross value allowance Net value Loans and advances (a) 2,092 (255) 1,837 Other non-current financial assets related to operational activities 250 – 250 Other 301 – 301 TOTAL 2,643 (255) 2,388 As of December 31, 2021 Valuation (M$) Gross value allowance Net value Loans and advances (a) 2,364 (257) 2,107 Other non-current financial assets related to operational activities 312 – 312 Other 378 – 378 TOTAL 3,054 (257) 2,797 As of December 31, 2020 Valuation (M$) Gross value allowance Net value Loans and advances (a) 2,731 (273) 2,458 Other non-current financial assets related to operational activities 287 – 287 Other 65 – 65 TOTAL 3,083 (273) 2,810 (a) Excluding loans to equity affiliates. Changes in the valuation allowance on loans and advances are detailed as follows: Currency Valuation translation Valuation For the year ended December 31, allowance as of adjustment and allowance as of (M$) January 1, Increases Decreases other variations December 31, 2022 (257) (27) 11 18 (255) 2021 (273) (6) 14 8 (257) 2020 (266) (30) 15 8 (273) |
Intangible and tangible assets
Intangible and tangible assets | 12 Months Ended |
Dec. 31, 2022 | |
Intangible and tangible assets | |
Intangible and tangible assets | Note 7 Intangible and tangible assets 7.1 Intangible assets Accounting principles Goodwill Guidance for measuring goodwill is presented in Note 1.1 paragraph B to the Consolidated Financial Statements. Goodwill is not amortized but is tested for impairment at least annually and as soon as there is any indication of impairment. Mineral interests Unproved mineral interests are tested for impairment based on the results of the exploratory activity or as part of the impairment tests of the cash-generating units to which they are allocated. Unproved mineral interests are transferred to proved mineral interests at their net book value as soon as proved reserves are booked. Proved mineral interests are depreciated using the unit-of-production method based on proved reserves. The corresponding expense is recorded as depreciation of tangible assets and mineral interests. Other intangible assets Other intangible assets include patents, and trademarks. Intangible assets are carried at cost, after deducting any accumulated amortization and accumulated impairment losses. Intangible assets (excluding mineral interests) that have a finite useful life are amortized on a straight-line basis over three As of December 31, 2022 Amortization and (M$) Cost impairment Net Goodwill 9,010 (360) 8,650 Proved mineral interests 18,025 (10,088) 7,937 Unproved mineral interests 15,962 (2,946) 13,016 Other intangible assets 6,795 (4,467) 2,328 TOTAL INTANGIBLE ASSETS 49,792 (17,861) 31,931 As of December 31, 2021 Amortization and (M$) Cost impairment Net Goodwill 9,728 (899) 8,829 Proved mineral interests 17,382 (9,730) 7,652 Unproved mineral interests 16,637 (2,831) 13,806 Other intangible assets 7,185 (4,988) 2,197 TOTAL INTANGIBLE ASSETS 50,932 (18,448) 32,484 As of December 31, 2020 Amortization and (M$) Cost impairment Net Goodwill 9,738 (931) 8,807 Proved mineral interests 16,559 (9,595) 6,964 Unproved mineral interests 20,300 (4,790) 15,510 Other intangible assets 7,212 (4,965) 2,247 TOTAL INTANGIBLE ASSETS 53,809 (20,281) 33,528 Change in net intangible assets is analyzed in the following table: Currency Net amount as of Amortization and translation Net amount as of (M$) January 1, Expenditures Disposals impairment adjustment Other December 31, 2022 32,484 1,991 (75) (1,582) (423) (464) 31,931 2021 33,528 696 (271) (1,322) (394) 247 32,484 2020 33,178 784 (277) (1,430) 305 968 33,528 In 2022, the heading “Amortization and impairment” includes the accounting impact of exceptional asset impairments for an amount of $301 million, resulting in particular from the withdrawal from the North Platte project in the deep waters of the Gulf of Mexico (see note 3, paragraph D to the consolidated financial statements). In 2022, the heading “Other” mainly reflects the effect of changes in the consolidation scope (in particular the removal of SunPower from the scope of consolidation for USD 167 million). In 2021, the heading “Amortization and impairment” included the accounting impact of exceptional asset impairments for an amount of $253 million, notably relating to the end of the Qatargas 1 licence agreement and unconventional assets in the United States (see note 3 paragraph D to the Consolidated Financial Statements). In 2021, the heading “Other” mainly reflected changes in the consolidation scope (including the acquisition of Blue Raven Solar for $140 million and Fonroche Biogaz) for $89 million. In 2020, the heading “Amortization and impairment” included the accounting impact of exceptional asset impairments for an amount of $323 million (see note 3 paragraph D to the Consolidated Financial Statements). In 2020, the heading “Other” mainly reflected changes in the consolidation scope (including the acquisition of the residential gas and electricity supply business in Spain) for $898 million. A summary of changes in the carrying amount of goodwill by business segment for the year ended December 31, 2022 is as follows: Net goodwill as of Net goodwill as of (M$) January 1, 2022 Increases Impairments Other December 31, 2022 Integrated Gas, Renewables & Power 5,243 111 (58) (273) 5,023 Exploration & Production 2,612 – – (31) 2,581 Refining & Chemicals 519 – – (17) 502 Marketing & Services 426 108 – (18) 516 Corporate 29 – – (1) 28 TOTAL 8,829 219 (58) (340) 8,650 7.2 Property, plant and equipment Accounting principles Exploration costs TotalEnergies applies IFRS 6 “Exploration for and Evaluation of Mineral Resources”. Oil and gas exploration and production properties and assets are accounted for in accordance with the Successful Efforts method. Exploratory wells are capitalized and tested for impairment on an individual basis as follows: - Costs of exploratory wells which result in proved reserves are capitalized and then depreciated using the unit-of-production method based on proved developed reserves; - Costs of exploratory wells are capitalized as work in progress until proved reserves have been found, if both of the following conditions are met: ● ● Costs of exploratory wells not meeting these conditions are charged to exploration costs. Oil and Gas production assets of exploration and production activities Development costs of oil and gas production facilities are capitalized. These costs include borrowing costs incurred during the period of construction and the present value of estimated future costs of asset retirement obligations. The depletion rate of development wells and of production assets is equal to the ratio of oil and gas production for the period to proved developed reserves (unit-of-production method). In the event that, due to the price effect on reserves evaluation, the unit-of-production method does not reflect properly the useful life of the asset, an alternative depreciation method is applied based on the reserves evaluated with the price of the previous year. This was the case for fiscal year 2020 where the method of unit-of-production depreciation was applied to all assets over 2020 based on proved reserves measured with the price used in 2019. As of December 31, 2021, and December 31, 2022, this alternative method is not applied as, given the price used to assess the reserves, the unit-of-production method correctly reflects the useful life of the assets. With respect to phased development projects or projects subject to progressive well production start-up, the fixed assets’ depreciable amount, excluding production or service wells, is adjusted to exclude the portion of development costs attributable to the undeveloped reserves of these projects. With respect to production sharing contracts, the unit-of-production method is based on the portion of production and reserves assigned to TotalEnergies taking into account estimates based on the contractual clauses regarding the reimbursement of exploration, development and production costs (cost oil/gas) as well as the sharing of hydrocarbon rights after deduction of cost oil (profit oil/gas). Hydrocarbon transportation and processing assets are depreciated using the unit-of-production method based on throughput or by using the straight-line method whichever best reflects the economic life of the asset. Other property, plant and equipment Other property, plant and equipment are carried at cost, after deducting any accumulated depreciation and accumulated impairment losses. This cost includes borrowing costs directly attributable to the acquisition or production of a qualifying asset incurred until assets are placed in service. Borrowing costs are capitalized as follows: ● ● Routine maintenance and repairs are charged to expense as incurred. The costs of major turnarounds of refineries and large petrochemical units are capitalized as incurred and depreciated over the period of time between two consecutive major turnarounds. Other property, plant and equipment are depreciated using the straight-line method over their useful lives, which are as follows: ● Furniture, office equipment, machinery and tools 3 - 12 years ● Transportation equipment 5 - 20 years ● Storage tanks and related equipment 10 - 15 years ● Specialized complex installations and pipelines 10 - 30 years ● Buildings 10 - 50 years As of December 31, 2022 Depreciation and (M$) Cost impairment Net Property, plant and equipment of exploration and production activities Proved properties 210,079 (146,571) 63,508 Unproved properties 1,023 (268) 755 Work in progress 20,294 (688) 19,606 Subtotal 231,396 (147,527) 83,869 Other property, plant and equipment Land 3,089 (1,039) 2,050 Machinery, plant and equipment (including transportation equipment) 37,002 (26,079) 10,923 Buildings 10,230 (6,627) 3,603 Work in progress 3,960 (23) 3,937 Other 10,401 (7,682) 2,719 Subtotal 64,682 (41,450) 23,232 TOTAL PROPERTY, PLANT AND EQUIPMENT 296,078 (188,977) 107,101 As of December 31, 2021 Depreciation and (M$) Cost impairment Net Property, plant and equipment of exploration and production activities Proved properties 212,264 (149,221) 63,043 Unproved properties 1,635 (268) 1,367 Work in progress 18,463 (831) 17,632 Subtotal 232,362 (150,320) 82,042 Other property, plant and equipment Land 3,145 (973) 2,172 Machinery, plant and equipment (including transportation equipment) 38,285 (26,425) 11,860 Buildings 10,558 (6,646) 3,912 Work in progress 3,625 (8) 3,617 Other 10,434 (7,478) 2,956 Subtotal 66,047 (41,530) 24,517 TOTAL PROPERTY, PLANT AND EQUIPMENT 298,409 (191,850) 106,559 As of December 31, 2020 Depreciation and (M$) Cost impairment Net Property, plant and equipment of exploration and production activities Proved properties 215,892 (147,914) 67,978 Unproved properties 2,978 (268) 2,710 Work in progress 13,873 (861) 13,012 Subtotal 232,743 (149,043) 83,700 Other property, plant and equipment Land 2,999 (905) 2,094 Machinery, plant and equipment (including transportation equipment) 39,506 (27,381) 12,125 Buildings 11,184 (6,858) 4,326 Work in progress 3,063 (1) 3,062 Other 10,983 (7,955) 3,028 Subtotal 67,735 (43,100) 24,635 TOTAL PROPERTY, PLANT AND EQUIPMENT 300,478 (192,143) 108,335 Change in net property, plant and equipment is analyzed in the following table: Currency Net amount as of Depreciation and translation Net amount as of (M$) January 1, Expenditures Disposals impairment adjustment Other December 31, 2022 106,559 13,699 (951) (12,275) (2,236) 2,305 107,101 2021 108,335 11,647 (705) (13,133) (1,739) 2,154 106,559 2020 116,408 9,980 (611) (21,544) 1,706 2,396 108,335 In 2022, the heading “Disposals” mainly includes the impact of the transfer of assets from TotalEnergies East Africa Midstream to the equity-accounted company EACOP for $508 million. In 2022, the heading “Depreciation and impairment” includes the impact of impairments of assets recognized for an amount of $888 million, including the withdrawal from the North Platte project in the deep waters of the Gulf of Mexico, and an impairment reversal of $1,196 million on the Company's assets in Canada (see Note 3 paragraph D to the Consolidated Financial Statements). In 2022, the heading “Other” includes the impact of changes in the consolidation scope, and the impact of new IFRS 16 contracts during the year (mainly FPSOs and vessels) for an amount of $1,969 million. In 2021, the heading “Disposals” mainly included the sale of non-operated assets in Gabon for $397 million. In 2021, the heading “Depreciation and impairment” included the impact of impairments of assets recognized for an amount of $615 million including the Company's assets in Myanmar and unconventional assets in the United States (see Note 3 paragraph D to the Consolidated Financial Statements). In 2021, the heading “Other” included the impact of changes in the consolidation scope, and the impact of the new IFRS 16 contracts of the period (mainly new chartering contracts) for an amount of $1,786 million. In 2020, the heading “Disposals” mainly included the sale of non strategic assets in the United Kingdom for $240 million. In 2020, the heading “Depreciation and impairment” included the impact of impairments of assets recognized for an amount of $8,629 million (see Note 3 paragraph D to the Consolidated Financial Statements). In 2020, the heading “Other” included the impact of changes in the consolidation scope, the impact of the new IFRS 16 contracts of the period (mainly LNG carriers and FPSO vessels) for an amount of $1,815 million, and the reversal of the reclassification under IFRS 5 as at December 31, 2019 for $434 million corresponding to disposals (mainly non strategic assets in the United Kingdom and Total E&P Deep Offshore Borneo BV). Following the application of IFRS 16 "Leases", property, plant and equipment as at December 31, 2022, 2021 and 2020 presented above include the following amounts for rights of use of assets: As of December 31, 2022 Depreciation and (M$) Cost impairment Net Property, plant and equipment of exploration and production activities 4,497 (2,121) 2,376 Other property, plant and equipment Land 1,396 (397) 999 Machinery, plant and equipment (including transportation equipment) 4,691 (2,100) 2,591 Buildings 1,750 (615) 1,135 Other 745 (483) 262 Subtotal 8,582 (3,595) 4,987 TOTAL PROPERTY, PLANT AND EQUIPMENT 13,079 (5,716) 7,363 As of December 31, 2021 Depreciation and (M$) Cost impairment Net Property, plant and equipment of exploration and production activities 3,228 (1,683) 1,545 Other property, plant and equipment Land 1,441 (324) 1,117 Machinery, plant and equipment (including transportation equipment) 4,910 (1,819) 3,091 Buildings 1,853 (561) 1,292 Other 712 (404) 308 Subtotal 8,916 (3,108) 5,808 TOTAL PROPERTY, PLANT AND EQUIPMENT 12,144 (4,791) 7,353 As of December 31, 2020 Depreciation and (M$) Cost impairment Net Property, plant and equipment of exploration and production activities 2,758 (1,297) 1,461 Other property, plant and equipment Land 1,187 (222) 965 Machinery, plant and equipment (including transportation equipment) 4,606 (1,631) 2,975 Buildings 1,778 (385) 1,393 Other 682 (286) 396 Subtotal 8,253 (2,524) 5,729 TOTAL PROPERTY, PLANT AND EQUIPMENT 11,011 (3,821) 7,190 |
Equity affiliates, other invest
Equity affiliates, other investments and related parties | 12 Months Ended |
Dec. 31, 2022 | |
Equity affiliates, other investments and related parties | |
Equity affiliates, other investments and related parties | Note 8 Equity affiliates, other investments and related parties 8.1 EQUITY AFFILIATES: INVESTMENTS AND LOANS Accounting principles Under the equity method, the investment in the associate or joint venture is initially recognized at acquisition cost and subsequently adjusted to recognize TotalEnergies’ share of the net income and other comprehensive income of the associate or joint venture. Unrealized gains on transactions between TotalEnergies and its equity-accounted entities are eliminated to the extent of TotalEnergies’ interest in the equity accounted entity. In equity affiliates, goodwill is included in investment book value. In cases where TotalEnergies holds less than 20% of the voting rights in another entity, the determination of whether TotalEnergies exercises significant influence is also based on other facts and circumstances: representation on the Board of Directors or an equivalent governing body of the entity, participation in policy-making processes, including participation in decisions relating to dividends or other distributions, significant transactions between the investor and the entity, exchange of management personnel, or provision of essential technical information. The contribution of equity affiliates in the consolidated balance sheet, consolidated statement of income and consolidated statement of comprehensive income is presented below: Equity value As of December 31, (M$) 2022 2021 2020 Total Associates 9,533 17,244 15,745 Total Joint ventures 14,623 9,277 7,102 TOTAL 24,156 26,521 22,847 Loans 3,733 4,532 5,129 TOTAL 27,889 31,053 27,976 Profit/(loss) (M$) 2022 2021 2020 Total Associates (4,567) 1,186 753 Total Joint ventures 2,675 2,252 (301) TOTAL (1,892) 3,438 452 Other comprehensive income (M$) 2022 2021 2020 Total Associates 3,368 734 (1,704) Total Joint ventures 129 (28) (127) TOTAL 3,497 706 (1,831) A) Information related to associates Information (100% gross) related to significant associates is as follows: Novatek (a) Liquefaction entities PetroCedeño (a) Exploration & production activites 2022 2021 2020 2022 2021 2020 2020 Non current assets – 26,954 23,748 40,850 39,348 34,273 4,008 Current assets – 8,208 4,170 8,276 11,075 7,537 6,428 TOTAL ASSETS – 35,162 27,918 49,126 50,423 41,810 10,436 Shareholder’s equity – 25,944 22,160 19,188 23,867 23,403 4,548 Non current liabilities – 3,246 3,164 22,312 19,659 13,608 73 Current liabilities – 5,972 2,594 7,626 6,897 4,799 5,815 TOTAL LIABILITIES – 35,162 27,918 49,126 50,423 41,810 10,436 Revenue from sales – 15,876 9,733 35,888 23,243 15,584 66 Net income – 5,871 1,759 10,247 8,056 2,416 – Other comprehensive income – (82) (3,206) – – – – % owned 19.40 % 19.40 % 19.40 % – – – 30.32 % Equity value – 6,243 5,596 3,243 5,582 5,534 1,379 Including goodwill and identifiable assets – 1,210 1,297 34 1,832 1,837 – Profit/(loss) (5,747) 1,065 264 (340) 1,024 237 – Share of Other Comprehensive Income, net amount 3,118 446 (1,409) (71) 85 (122) – Dividends paid to TotalEnergies 883 387 229 1,224 817 406 – (a) Information includes the best Company’s estimates of results at the date of TotalEnergies’ financial statements. As of 31 December 2022, Novatek is no longer an equity accounted affiliate in the Company's consolidated financial statements (see note 2.1 to the consolidated financial statements). This stake is now recognized in "other investments" and is measured in accordance with IFRS 9 at fair value through profit or loss. In the context of the Russian-Ukrainian conflict, the Company considers that the market value of Novatek is not representative of its fair value. As of December 31, 2022, the Company retained a zero fair value given the very significant uncertainties on any valuation assumption for the stake in Novatek. TotalEnergies’ interests in associates operating liquefaction plants are combined. The amounts include investments in: Nigeria LNG (15.00%), TotalEnergies LNG Angola (13.60%), Yemen LNG (39.62%), Qatar Liquefied Gas Company Limited (Qatargas) (10.00%), Qatar Liquefied Gas Company Limited II (16.70%), Oman LNG (5.54%), and Abu Dhabi Gas Liquefaction Company Limited (5.00%), Arctic LNG 2 (10.00%). TotalEnergies’ stake in PetroCedeño was sold in July 2021. Adani Green Energy Limited (a) Renewables and Electricity activities 2022 2021 Non current assets 6,961 6,223 Current assets 769 1,042 TOTAL ASSETS 7,730 7,265 Shareholder’s equity 807 316 Non current liabilities 5,805 5,560 Current liabilities 1,118 1,389 TOTAL LIABILITIES 7,730 7,265 Revenue from sales 1,073 545 Net income 104 35 Other comprehensive income (112) (10) % owned 19.74 % 20.00 % Equity value 1,856 2,102 including goodwill and identifiable assets 1,697 2,039 Profit/(loss) 21 7 Share of Other Comprehensive Income, net amount 23 6 Dividends paid to TotalEnergies – – (a) Interest acquired in 2021 Saudi Aramco Total Refining & Chemicals activities Refining & Petrochemicals Qatar (M$) 2022 2021 2020 2022 2021 2020 Non current assets 10,003 10,264 10,698 3,905 3,909 4,105 Current assets 3,615 2,221 1,211 2,491 1,908 1,521 TOTAL ASSETS 13,618 12,485 11,909 6,396 5,817 5,626 Shareholder’s equity 3,858 1,164 1,256 2,737 2,693 2,717 Non current liabilities 6,365 7,322 7,994 2,062 1,906 2,171 Current liabilities 3,395 3,999 2,659 1,597 1,218 738 TOTAL LIABILITIES 13,618 12,485 11,909 6,396 5,817 5,626 Revenue from sales 20,492 11,123 6,031 13,193 9,266 5,222 Net income 2,409 (245) (686) 629 649 91 Other comprehensive income 284 155 (171) (5) (5) – % owned 37.50 % 37.50 % 37.50 % Equity value 1,447 437 471 703 693 716 including goodwill and identifiable assets – – – – – – Profit/(loss) 903 (92) (257) 161 174 57 Share of Other Comprehensive Income, net amount 147 116 (128) 10 13 (16) Dividends paid to TotalEnergies – – – 138 199 63 Saudi Aramco Total Refining & Petrochemicals is an entity including a refinery in Jubail, Saudi Arabia, with a capacity of 460,000 barrels/day with integrated petrochemical units. The TotalEnergies’ interests in associates of the Refining & Chemicals segment, operating steam crackers and polyethylene lines in Qatar have been combined: Qatar Petrochemical Company Ltd. (20.00%), Qatofin (49.08%), Laffan Refinery (10.00%) and Laffan Refinery II (10.00%). B) Information related to joint ventures The information (100% gross) related to significant joint ventures is as follows: Liquefaction entities Hanwha TotalEnergies (Integrated Gas, Renewables & Power) Petrochemical Co (Refining & Chemicals) (M$) 2022 2021 2020 2022 2021 2020 Non current assets 65,293 66,924 70,425 4,113 4,443 4,664 Current assets excluding cash and cash equivalents 2,630 2,912 1,513 2,326 2,117 1,575 Cash and cash equivalents 4,375 2,312 1,834 82 151 303 TOTAL ASSETS 72,298 72,148 73,772 6,521 6,711 6,542 Shareholder’s equity 17,455 9,956 4,433 3,146 3,538 3,443 Other non current liabilities 10,785 8,205 8,259 180 164 167 Non current financial debts 41,452 50,920 58,128 1,220 1,241 1,703 Other current liabilities 2,606 3,067 2,952 1,117 1,055 583 Current financial debts – – – 858 713 646 TOTAL LIABILITIES 72,298 72,148 73,772 6,521 6,711 6,542 Revenue from sales 24,701 14,380 8,543 10,824 8,600 5,734 Depreciation and depletion of tangible assets and mineral interests (2,814) (3,058) (3,130) (289) (312) (278) Interest income 17 – 2 – – – Interest expense (2,453) (2,599) (2,972) (47) (44) (2) Income taxes (2,804) (1,448) 77 (65) (222) (69) Net income 12,791 5,600 (2,399) 123 620 133 Other comprehensive income 526 323 (323) (189) (308) 194 % owned 50.00 % 50.00 % 50.00 % Equity value 4,315 2,725 1,602 1,573 1,769 1,721 including goodwill and identifiable assets 465 502 546 – – – Profit/(loss) 2,616 1,119 (633) 62 310 67 Share of Other Comprehensive Income, net amount 137 84 (84) (59) (150) 87 Dividends paid to TotalEnergies 1,166 81 – 162 109 102 TotalEnergies’ interests in joint ventures operating liquefaction plants have been combined. The amounts include investments in Yamal LNG in Russia (20.02% direct holding) and Ichthys LNG in Australia (26.00%). Hanwha TotalEnergies Petrochemical Co is a South Korean company that operates a petrochemical complex in Daesan (condensate separator, steam cracker, styrene, paraxylene, polyolefins). Off balance sheet commitments relating to joint ventures are disclosed in Note 13 of the Consolidated Financial Statements. C) Other equity affiliates In TotalEnergies share, the main aggregated financial items in equity affiliates including assets held for sale, which have not been presented individually are as follows: 2022 2021 2020 As of December 31, Joint Joint Joint (M$) Associates ventures Associates ventures Associates ventures Non Current assets 6,014 17,484 5,987 9,745 5,454 7,002 Current assets 1,591 3,485 1,849 1,799 1,299 1,671 TOTAL ASSETS 7,605 20,969 7,836 11,544 6,753 8,673 Shareholder's equity - TotalEnergies share 1,423 4,042 1,366 2,531 1,183 1,963 Shareholder's equity - Non controlling interests – 1,414 – – – – Non current liabilities 5,296 12,422 5,455 7,460 4,881 5,469 Current liabilities 886 3,091 1,015 1,553 689 1,241 TOTAL LIABILITIES 7,605 20,969 7,836 11,544 6,753 8,673 2022 2021 2020 For the year ended December 31, Joint Joint Joint (M$) Associates ventures Associates ventures Associates ventures Revenues from sales 2,338 7,202 2,450 4,850 2,154 3,116 Net income 488 436 514 381 478 202 Non controlling interests – 110 – – – – Share of other comprehensive income items 140 52 68 38 (29) (130) Equity value 2,285 8,735 2,188 4,782 2,049 3,779 Profit/(Loss) 436 (3) (992) 823 452 265 Dividends paid to TotalEnergies 469 109 498 96 409 59 8.2 OTHER INVESTMENTS Accounting principles Other investments are equity instruments and are measured according to IFRS 9 at fair value through profit and loss (default option). On initial recognition, the standard allows to make an election to record the changes of fair value in other comprehensive income. For these equity instruments, only dividends can be recognized in profit or loss. TotalEnergies recognizes changes in fair value in equity or in profit or loss according to the option chosen on an instrument by instrument basis. For quoted shares on active markets, this fair value is based on the market price. As of As of As of December 31, 2022 January 1, Increase - Change in December 31, (M$) 2022 Decrease fair value 2022 Enphase Energy Inc 457 (579) 122 – Other shares through fair value OCI (unit value < $50M) 116 13 (10) 119 Equity instruments recorded through fair value OCI 573 (566) 112 119 BTC Limited 14 – (9) 5 Hubei Cathay Smart Energy Fund 36 7 11 54 Other shares through fair value P&L (unit value < $50M) 1,002 (54) (75) 873 Equity instruments recorded through fair value P&L 1,052 (47) (73) 932 TOTAL EQUITY INSTRUMENTS 1,625 (613) 39 1,051 As of As of As of December 31, 2021 January 1, Increase - Change in December 31, (M$) 2021 Decrease fair value 2021 Enphase Energy Inc 613 (177) 21 457 Tellurian Investments Inc. 57 (111) 54 – Other shares through fair value OCI (unit value < $50M) 113 12 (9) 116 Equity instruments recorded through fair value OCI 783 (276) 66 573 BBPP 58 (58) – – BTC Limited 27 – (13) 14 Hubei Cathay Smart Energy Fund 36 1 (1) 36 Other shares through fair value P&L (unit value < $50M) 1,103 (107) 6 1,002 Equity instruments recorded through fair value P&L 1,224 (164) (8) 1,052 TOTAL EQUITY INSTRUMENTS 2,007 (440) 58 1,625 As of As of As of December 31, 2020 January 1, Increase - Change in December 31, (M$) 2020 Decrease fair value 2020 Enphase Energy Inc 173 (251) 691 613 Tellurian Investments Inc. 207 (1) (149) 57 Other shares through fair value OCI (unit value < $50M) 126 (4) (9) 113 Equity instruments recorded through fair value OCI 506 (256) 533 783 BBPP 62 (4) – 58 BTC Limited 28 – (1) 27 Hubei Cathay Smart Energy Fund 15 21 – 36 Tas Helat Marketing Company (a) 108 (108) – – Other shares through fair value P&L (unit value < $50M) 1,059 63 (19) 1,103 Equity instruments recorded through fair value P&L 1,272 (28) (20) 1,224 TOTAL EQUITY INSTRUMENTS 1,778 (284) 513 2,007 (a) Tas Helat Marketing Company is a joint venture with SAUDI ARAMCO to develop the retail business. It was consolidated in 2020 (using the equity method). 8.3 Related parties The main transactions as well as receivable and payable balances with related parties (principally non-consolidated subsidiaries and equity affiliates) are detailed as follows: As of December 31, (M$) 2022 2021 2020 Balance sheet Receivables Debtors and other debtors 1,231 809 545 Loans (excl. loans to equity accounted for affiliates) 184 113 89 Payables Creditors and other creditors 1,610 1,347 662 Debts 5 2 3 For the year ended December 31, (M$) 2022 2021 2020 Statement of income Sales 6,806 4,250 3,134 Purchases (25,656) (13,473) (7,183) Financial income 3 – 1 Financial expense (9) (8) (6) 8.4 Compensation for the administration and management bodies The aggregated amount of direct and indirect compensation accounted by the French and foreign affiliates of the Company, for all executive officers of TotalEnergies as of December 31 and for the members of the Board of Directors who are employees of TotalEnergies, is detailed below. As of December 31, 2022, December 31, 2021, and December 31, 2020, TotalEnergies Executive Officers are the members of the Executive Committee, i.e. eight people and there are three employees members of the Board of Directors. For the year ended December 31, (M$) 2022 2021 2020 Number of people 11 11 11 Direct or indirect compensation 12.4 11.9 12.6 Pension expenses (a) 1.9 1.4 1.5 Share-based payments expense (IFRS 2) (b) 7.7 4.9 7.2 (a) The benefits provided for Executive Officers of the Company and the members of the Board of Directors, who are employees of the Company, include severance to be paid upon retirement, supplementary pension schemes and insurance plans, which represent a commitment of $64.3 million as of December 31, 2022 (against $90.7 million as of December 31, 2021 and $129.0 million as of December 31, 2020). Converted into Euros, this commitment amounts to €60.3 million as of December 31, 2022 (against €80.1 million as of December 31, 2021 and €105.2 million as of December 31, 2020). The decrease is related to the increase in discount rates. (b) Share-based payments expense computed for the Executive Officers and the members of the Board of Directors who are employees of TotalEnergies and based on the principles of IFRS 2 “Share-based payments” described in Note 9. The increase of the expense between 2021 and 2022 is mainly related to the increase in the TotalEnergies share price. The compensation allocated to members of the Board of Directors as directors’ fees totaled $1.84 million in 2022 ($2.06 million in 2021 and $1.44 million in 2020). |
Shareholders' equity and share-
Shareholders' equity and share-based payments | 12 Months Ended |
Dec. 31, 2022 | |
Shareholders' equity and share-based payments | |
Shareholders' equity and share-based payments | Note 9 Shareholders’ equity and share-based payments 9.1 SHAREHOLDERS' EQUITY Number of TotalEnergies shares and rights attached As of December 31, 2022, the share capital of TotalEnergies SE amounts to €6,547,828,212.50, divided into 2,619,131,285 shares, with a par value of €2.50. There is only one category of shares. The shares may be held in either registered or bearer form. The authorized share capital amounts to 3,664,966,081 A double voting right is assigned to shares that are fully-paid and held in registered form in the name of the same shareholder for at least two years, with due consideration for the total portion of the share capital represented. A double voting right is also assigned, in the event of an increase in share capital by incorporation of reserves, profits or premiums, to registered shares granted without charge to a shareholder due to shares already held that are entitled to this right. Pursuant to the Corporation’s bylaws (Statutes), no shareholder may cast a vote at a Shareholders’ Meeting, either by himself or through an agent, representing more than 10% of the total voting rights for the Corporation’s shares. This limit applies to the aggregated amount of voting rights held directly, indirectly or through voting proxies. However, in the case of double voting rights, this limit may be extended up to 20% of the total voting rights for the Corporation’s shares. These restrictions no longer apply if any individual or entity, acting alone or in concert, acquires at least two Share cancellation The Board of Directors, pursuant to the authorization granted by the Extraordinary Shareholders’ Meeting on May 26, 2017, in the thirteenth resolution to reduce, on one or more occasions, the Corporation’s share capital by cancelling shares, in accordance with the provisions of Articles L. 225-209 (became L. 22-10-62) and L. 225-213 of the French Commercial Code, has proceeded with the following cancellation of TotalEnergies shares: Percentage Number of shares bought back and cancelled of the share Board of Directors’ for the purpose of the shareholder policy capital Fiscal year decision date cancelled (a) 2022 February 9, 2022 30,665,526 shares bought back between November 8 and December 22, 2021 1.16 % 2021 February 8, 2021 23,284,409 shares bought back between October 31, 2019 and March 9, 2020 0.88 % 2020 n/a (b) (a) Percentage of the share capital that the cancelled shares represented on the operations’ date. (b) TotalEnergies SE did not cancel any shares in the fiscal year 2020. Under the terms of the twenty-third resolution of the General Meeting of Shareholders of May 25, 2022, the Board of Directors is authorized to cancel the shares of the Company within the limit of 10% of the capital of the Company existing on the date of the operation per period of 24 months. Variation of the number of shares composing the share capital AS OF DECEMBER 31, 2019 (a) 2,601,881,075 Deferred contribution pursuant to the 2015 capital increase reserved for employees 18,879 2020 Capital increase reserved for employees 13,160,383 Capital increase as payment of the scrip dividend (final 2019 dividend) 38,063,688 AS OF DECEMBER 31, 2020 (b) 2,653,124,025 Capital reduction by cancellation of treasury shares (23,284,409) 2021 Capital increase reserved for employees 10,589,713 AS OF DECEMBER 31, 2021 (c) 2,640,429,329 Capital reduction by cancellation of treasury shares (30,665,526) Deferred contribution pursuant to the 2017 capital increase reserved for employees 9,471 2022 Capital increase reserved for employees 9,358,011 AS OF DECEMBER 31, 2022 (d) 2,619,131,285 (a) Including 15,474,234 treasury shares deducted from consolidated shareholders’ equity. (b) Including 24,392,703 treasury shares deducted from consolidated shareholders’ equity. (c) Including 33,841,104 treasury shares deducted from consolidated shareholders’ equity. (d) Including 137,187,667 treasury shares deducted from consolidated shareholders’ equity. Capital increase reserved for employees The Extraordinary Shareholders’ Meeting (“ ESM ESOP In fiscal year 2022, the Board of Directors of September 22, 2022, by virtue of the twenty-second resolution above-mentioned, decided to proceed with a capital increase reserved for employees and retirees within the limit of 18 million shares and has granted all powers to the Chairman and Chief Executive Officer to determine, in particular, the terms and conditions of subscription, the opening and closing dates of the subscription period and the subscription price to be issued. This capital increase is expected to be completed after the Shareholders’ Meeting of May 26, 2023. During the fiscal years 2022, 2021 and 2020, the Corporation completed the following ESOP, which terms are set out below: Fiscal year 2022 2021 2020 Date of the ESOP June 8, 2022 June 9, 2021 June 11, 2020 By virtue of 17 th 20 th 18 th Subscriptions Number of shares subscribed 9,130,380 10,376,190 12,952,925 Subscription price 37.00 euros 30.50 euros 26.20 euros Free shares Number of shares granted 227,631 213,523 207,458 By virtue of 19 th Deferred contribution Number of shares granted – – 1,380 Number of beneficiaries – – 276 End of the acquisition period – – June 11, 2025 Treasury shares Accounting principles Treasury shares held by TotalEnergies SE, or by its subsidiaries are deducted from consolidated shareholders’ equity. Gains or losses on sales of treasury shares are excluded from the determination of net income and are recognized in shareholders’ equity. Number of treasury shares held by TotalEnergies SE As of December 31, 2022 2021 2020 Number of treasury shares held by TotalEnergies SE 137,187,667 33,841,104 24,392,703 Percentage of share capital 5.24 % 1.28 % 0.92 % Of which shares acquired with the intention to cancel them 128,869,261 30,665,526 23,284,409 Of which shares allocated to TotalEnergies share performance plans 8,231,365 3,103,018 1,055,446 Of which shares intended to be allocated to new share performance or purchase options plans 87,041 72,560 52,848 Paid-in surplus In accordance with French law, the paid-in surplus corresponds to premiums related to shares issuances, contributions or mergers of the parent company which can be capitalized or used to offset losses if the legal reserve has reached its minimum required level. The amount of the paid-in surplus may also be distributed subject to taxation except when it qualifies as a refund of shareholder contributions. As of December 31, 2022, paid-in surplus relating to TotalEnergies SE amounted to €35,099 million (€36,030 million as of December 31, 2021 and €36,722 million as of December 31, 2020). Reserves Under French law, 5% of net income must be transferred to the legal reserve until the legal reserve reaches 10% of the nominal value of the share capital. This reserve cannot be distributed to the shareholders other than upon liquidation but can be used to offset losses. If wholly distributed, the unrestricted reserves of TotalEnergies SE would be taxed for an approximate amount of $227 million as of December 31, 2022 ($362 million as of December 31, 2021 and $492 million as of December 31, 2020) due to additional corporation tax applied on regulatory reserves so that they become distributable. Earnings per share Accounting principles Earnings per share is calculated by dividing net income (TotalEnergies share) by the weighted-average number of common shares outstanding during the period, excluding TotalEnergies shares held by TotalEnergies SE (Treasury shares) which are deducted from consolidated shareholders’ equity. Diluted earnings per share is calculated by dividing net income (TotalEnergies share) by the fully-diluted weighted-average number of common shares outstanding during the period. Treasury shares held by the parent company, TotalEnergies SE are deducted from consolidated shareholders’ equity. This calculation also takes into account the dilutive effect of share grants and capital increases with a subscription period closing after the end of the fiscal year. The weighted-average number of fully-diluted shares is calculated in accordance with the treasury stock method provided for by IAS 33. The proceeds, which would be recovered in the event of an exercise of rights related to dilutive instruments, are presumed to be a share buyback at the average market price over the period. The number of shares thereby obtained leads to a reduction in the total number of shares that would result from the exercise of rights. In compliance with IAS 33, earnings per share and diluted earnings per share are based on the net income after deduction of the remuneration due to the holders of deeply subordinated notes. The variation of both weighted-average number of shares and weighted-average number of diluted shares, as of December 31, respectively used in the calculation of earnings per share and fully-diluted earnings per share is detailed as follows: 2022 2021 2020 Number of shares as of January 1, 2,640,429,329 2,653,124,025 2,601,881,075 TotalEnergies shares held by TotalEnergies SE or by its subsidiaries and deducted from shareholders' equity (33,841,104) (24,392,703) (15,474,234) Evolution of the number of shares during the financial year pro-rated Final grant of TotalEnergies performance shares 5,152,336 3,810,430 2,154,064 Capital increase reserved for employees (a) 5,465,154 6,177,333 7,689,476 Capital increase as payment of the scrip dividend – – 17,445,857 Buyback of TotalEnergies treasury shares including: (62,498,318) (7,296,460) (11,669,489) Shares repurchased during the fiscal year to cancel the dilution caused by the scrip dividend payment and within the framework of the share buyback program (58,621,530) (3,762,794) (10,666,710) Shares repurchased during the fiscal year to cover for the performance share plans (3,876,788) (3,533,666) (1,002,779) WEIGHTED-AVERAGE NUMBER OF SHARES 2,554,707,397 2,631,422,625 2,602,026,749 Dilutive effect Grant of TotalEnergies performance shares 15,890,560 14,492,673 – Capital increase reserved for employees (a) 1,584,068 1,552,947 – WEIGHTED-AVERAGE NUMBER OF DILUTED SHARES AS OF DECEMBER 31, (b) 2,572,182,025 2,647,468,245 2,602,026,749 (a) Including the shares granted in consideration to the deferred contribution pursuant to the capital increase reserved for employees. (b) In 2020, the effect generated by the grant of TotalEnergies performance shares and by the capital increase reserved for employees (19,007,836 shares) is anti-dilutive. In accordance with IAS 33, the weighted-average number of diluted shares is therefore equal to the weighted-average number of shares. Earnings per share in euros The earnings per share in euros, converted from the earnings per share in dollars, by using the average exchange rate euro/dollar, is €7.51 per share for 2022 closing (€5.03 for 2021 closing). The fully-diluted earnings per share calculated by using the same method is €7.45 per share for 2022 closing (€5.01 for 2021 closing). Dividend On February 7, 2023, the Board of Directors after approving the financial statements for fiscal year 2022, decided to propose to the Shareholders’ Meeting on May 26, 2023 the distribution of an ordinary €2.81 dividend per share for fiscal year 2022. Subject to the Shareholders’ decision on May 26, 2023, considering the first three interim dividends already decided by the Board of Directors, the final ordinary dividend for the fiscal year 2022 will be €0.74 per share. 2022 Dividend First interim Second interim Third interim Final Amount €0.69 €0.69 €0.69 €0.74 Set date April 27, 2022 July 27, 2022 October 26, 2022 February 7, 2023 Ex-dividend date September 21, 2022 January 2, 2023 March 22, 2023 June 21, 2023 Payment date October 3, 2022 January 12, 2023 April 3, 2023 July 3, 2023 Following its decisions of September 28, 2022, the Board of Directors of October 26, 2022 confirmed the distribution of a special interim dividend of €1 per share. This interim dividend has been detached on December 6, 2022 and paid in cash on December 16, 2022. Subject to the Shareholders’ decision on May 26, 2023, given the special interim dividend for the 2022 financial year already paid, this special dividend of €1 per share would not give rise to the payment of a balance. Special interim dividend Amount per share € Ex-dividend date December 6, 2022 Payment date December 16, 2022 Subject to the Shareholder's decision on May 26, 2023, dividend for fiscal year 2022 (ordinary plus special) will amount to €3.81 per share. Issuances of perpetual subordinated notes As of December 31, 2022, the amount of perpetual subordinated notes booked in TotalEnergies shareholders' equity is $13,882 million. The coupons attributable to the holders of these securities are recognized as a deduction from TotalEnergies shareholders' equity for an amount of $331 million for fiscal year 2022. The tax deduction due to these coupons is booked in the statement of income. Based on their characteristics (mainly no mandatory repayment and no obligation to pay a coupon except under certain circumstances specified into the documentation of the notes) and in compliance with IAS 32 standard – Financial instruments - Presentation On 17 January 2022, TotalEnergies SE issued two tranches of perpetual subordinated notes in euro: - Deeply subordinated notes 2.000% perpetual maturity callable after 5.25 years (€1,000 million); and - Deeply subordinated notes 3.250% perpetual maturity callable after 15 years (€750 million). These two tranches were issued to refinance the €1,750 million perpetual subordinated notes carrying a coupon of 3.875% and whose redemption option was exercised on its first call date on May 18, 2022. Summary of the perpetual deeply subordinated notes of TotalEnergies SE: Perpetual deeply subordinated notes issues by TotalEnergies SE Outstanding amount in M€ as of: Date Amount issued (M€) Coupon (%) First call date December 31, 2022 December 31, 2021 December 31, 2020 January 17, 2022 1,000 2.000 % April 17, 2027 1,000 – – 750 3.250 % January 17, 2037 750 – – January 25, 2021 1,500 2.125 % January 25, 2033 1,500 1,500 – 1,500 1.625 % January 25, 2028 1,500 1,500 – September 4, 2020 1,000 2.000 % September 4, 2030 1,000 1,000 1,000 April 4, 2019 1,500 1.750 % April 4, 2024 1,500 1,500 1,500 October 6, 2016 1,500 3.369 % October 6, 2026 1,500 1,500 1,500 1,000 2.708 % May 5, 2023 1,000 1,000 1,000 May 18, 2016 1,750 3.875 % May 18, 2022 – 1,750 1,750 February 26, 2015 2,500 2.250 % February 26, 2021 – – 297 2,500 2.625 % February 26, 2025 2,500 2,500 2,500 TOTAL 12,250 12,250 9,547 Other comprehensive income Detail of other comprehensive income showing both items potentially reclassifiable and those not potentially reclassifiable from equity to net income is presented in the table below: For the year ended December 31, (M$) 2022 2021 2020 Actuarial gains and losses 574 1,035 (212) Change in fair value of investments in equity instruments 112 66 533 Tax effect (96) (411) 65 Currency translation adjustment generated by the parent company (4,976) (7,202) 7,541 Sub-total items not potentially reclassifiable to profit & loss (4,386) (6,512) 7,927 Currency translation adjustment 1,734 4,216 (4,645) – Unrealized gain/(loss) of the period 1,974 4,380 (4,607) – Less gain/(loss) included in net income 240 164 38 Cash flow hedge (5,452) 278 (313) – Unrealized gain/(loss) of the period (4,190) 109 (175) – Less gain/(loss) included in net income 1,262 (169) 138 Variation of foreign currency basis spread 65 2 28 – Unrealized gain/(loss) of the period 26 (47) (22) – Less gain/(loss) included in net income (39) (49) (50) Share of other comprehensive income of equity affiliates, net amount 3,497 706 (1,831) – Unrealized gain/(loss) of the period 1,071 626 (1,841) – Less gain/(loss) included in net income (2,426) (80) (10) Other (16) (1) (8) Tax effect 1,449 (135) 72 Sub-total items potentially reclassifiable to profit & loss 1,277 5,066 (6,697) TOTAL OTHER COMPREHENSIVE INCOME, NET AMOUNT (3,109) (1,446) 1,230 The currency translation adjustment by currency is detailed in the following table: As of December 31, 2022 Pound Other (M$) Total Euro sterling Ruble currencies Currency translation adjustment generated by the parent company (4,976) (4,976) – – – Currency translation adjustment 1,734 3,120 (592) 4 (798) Currency translation adjustment of equity affiliates 3,002 (1,076) 31 4,247 (200) TOTAL CURRENCY TRANSLATION ADJUSTMENT RECOGNIZED IN COMPREHENSIVE INCOME (240) (2,932) (561) 4,251 (998) As of December 31, 2021 Pound Other (M$) Total Euro sterling Ruble currencies Currency translation adjustment generated by the parent company (7,202) (7,202) – – – Currency translation adjustment 4,216 4,654 (180) (1) (257) Currency translation adjustment of equity affiliates 536 730 4 (27) (171) TOTAL CURRENCY TRANSLATION ADJUSTMENT RECOGNIZED IN COMPREHENSIVE INCOME (2,450) (1,818) (176) (28) (428) As of December 31, 2020 Pound Other (M$) Total Euro sterling Ruble currencies Currency translation adjustment generated by the parent company 7,541 7,541 – – – Currency translation adjustment (4,645) (4,668) 115 (12) (80) Currency translation adjustment of equity affiliates (1,657) (851) (11) (886) 91 TOTAL CURRENCY TRANSLATION ADJUSTMENT RECOGNIZED IN COMPREHENSIVE INCOME 1,239 2,022 104 (898) 11 Tax effects relating to each component of other comprehensive income are as follows: 2022 2021 2020 For the year ended December 31, Pre-tax Tax Net Pre-tax Tax Net Pre-tax Tax Net (M$) amount effect amount amount effect amount amount effect amount Actuarial gains and losses 574 (106) 468 1,035 (372) 663 (212) 47 (165) Change in fair value of investments in equity instruments 112 10 122 66 (39) 27 533 18 551 Currency translation adjustment generated by the parent company (4,976) – (4,976) (7,202) – (7,202) 7,541 – 7,541 Sub-total items not potentially reclassifiable to profit & loss (4,290) (96) (4,386) (6,101) (411) (6,512) 7,862 65 7,927 Currency translation adjustment 1,734 – 1,734 4,216 – 4,216 (4,645) – (4,645) Cash flow hedge (5,452) 1,466 (3,986) 278 (130) 148 (313) 79 (234) Variation of foreign currency basis spread 65 (17) 48 2 (5) (3) 28 (7) 21 Share of other comprehensive income of equity affiliates, net amount 3,497 – 3,497 706 – 706 (1,831) – (1,831) Other (16) – (16) (1) – (1) (8) – (8) Sub-total items potentially reclassifiable to profit & loss (172) 1,449 1,277 5,201 (135) 5,066 (6,769) 72 (6,697) TOTAL OTHER COMPREHENSIVE INCOME (4,462) 1,353 (3,109) (900) (546) (1,446) 1,093 137 1,230 Non-controlling interests As of December 31, 2022, the subsidiaries with the most significant non-controlling interests are TotalEnergies Australia Unit Trust, TotalEnergies Gabon and TotalEnergies E&P Congo. 9.2 Share-based payments Accounting principles TotalEnergies SE may grant employees share subscription or purchase options plans, performance shares plans and offer its employees the opportunity to subscribe to reserved capital increases. These employee benefits are recognized as expenses with a corresponding credit to shareholders’ equity. The expense is equal to the fair value of the instruments granted. The expense is recognized on a straight-line basis over the period in which the advantages are acquired. The fair value of the options is calculated using the Black-Scholes model at the grant date. For performance shares plans, the fair value is calculated using the market price at the grant date after deducting the expected distribution rate during the vesting period. The number of allocated equity instruments can be revised during the vesting period in cases of non-compliance with performance conditions, with the exception of those related to the market, or according to the rate of turnover of the beneficiaries. The cost of employee-reserved capital increases is immediately expensed. The cost of the capital increase reserved for employees consists of the cost related to the discount on the shares subscribed using the classic and/or the leveraged schemes, the cost of the free shares and the opportunity gain for the shares subscribed using the leveraged scheme, as applicable. This opportunity gain corresponds to the benefit of subscribing to the leveraged offer, rather than reproducing the same economic profile through the purchase of options in the market for individual investors. A. TotalEnergies share subscription or purchase option plans The Extraordinary Shareholders’ Meeting of May 29, 2020 authorised the Board of Directors, for a period of thirty-eight months to grant share subscription or purchase options. The Board of Directors has not decided any grant of TotalEnergies share subscription or purchase option plan by virtue of this authorisation and all previous option plans have expired. B. TotalEnergies Performance share plans 2017 2018 2019 2020 2021 2022 Total Date of the Shareholders’ Meeting 5/24/2016 5/24/2016 6/1/2018 6/1/2018 6/1/2018 5/28/2021 Award date 7/26/2017 3/14/2018 3/13/2019 3/18/2020 5/28/2021 3/16/2022 Date of the final award (end of the vesting period) 7/27/2020 3/15/2021 3/14/2022 3/20/2023 5/29/2024 3/17/2025 Transfer authorized as from 7/28/2022 3/16/2023 3/15/2024 3/21/2025 5/30/2026 3/17/2025 Grant date IFRS 2 fair value 35.57 € 36.22 € 40.11 € 12.40 € 27.40 € 37.22 € Number of performance shares Outstanding as of January 1, 2020 5,607,859 6,028,435 6,407,643 – – – 18,043,937 Notified – – – 6,727,352 – – 6,727,352 Cancelled (1,313,687) (55,830) (44,289) (18,691) – – (1,432,497) Finally granted (4,294,172) (10,740) (10,890) (1,773) – – (4,317,575) Outstanding as of January 1, 2021 – 5,961,865 6,352,464 6,706,888 – – 19,021,217 Notified – – – – 6,764,548 – 6,764,548 Cancelled – (1,395,555) (58,578) (52,301) (31,118) – (1,537,552) Finally granted – (4,566,310) (4,810) (1,385) (690) – (4,573,195) Outstanding as of January 1, 2022 – – 6,289,076 6,653,202 6,732,740 – 19,675,018 Notified – – – – – 7,353,271 7,353,271 Cancelled – – (127,852) (65,561) (57,410) (27,690) (278,513) Finally granted – – (6,161,224) (12,680) (13,750) (8,000) (6,195,654) OUTSTANDING AS OF DECEMBER 31, 2022 – – – 6,574,961 6,661,580 7,317,581 20,554,122 The performance shares, which are bought back by TotalEnergies SE on the market, are finally granted to their beneficiaries after a 3-year vesting period, from the date of the grant. The final grant is subject to a continued employment condition as well as: - two performance conditions for the 2017 and 2018 Plans, - three performance conditions for the 2019 Plan, - four performance conditions for the 2020 Plan, and - five performance conditions for the 2021 and 2022 Plans. Moreover, the transfer of the performance shares finally granted under the 2017 to 2021 Plans will not be permitted until the end of a 2-year holding period from the date of the final grant. 2022 Plan On March 16, 2022, the Board of Directors granted performance shares to certain employees and executive directors of TotalEnergies SE or its subsidiaries, subject to the fulfilment of the continued employment condition and five performance conditions. The presence condition applies to all shares. The performance conditions apply differently depending on the capacity of the beneficiaries. If all shares granted to senior executives are subject to performance conditions, the grant of the first 150 shares to non-senior executives are not subject to the performance condition abovementioned, which will, nonetheless, apply to any shares granted above this threshold. The applicable performance conditions are as follows: - For 25% of the shares, the Corporation will be ranked against its peers (ExxonMobil, Shell, BP and Chevron) based on the Total Shareholder Return (“TSR”) during the three vesting years (2022, 2023 and 2024). The TSR criterion considered is that of the last quarter of the year, the dividend being considered reinvested based on the closing price on the ex-dividend date. - For 25% of the shares, the Corporation will be ranked against its peers (ExxonMobil, Shell, BP and Chevron) based on the annual variation in net cash flow per share criterion expressed in dollars during the three vesting years (2022, 2023 and 2024). - For 20% of the shares, the level reached by the pre-dividend organic cash breakeven in view of the objective set for the three vesting years (2022, 2023 and 2024). The pre-dividend organic cash breakeven is defined as the Brent price for which the operating cash flow before working capital changes (MBA) covers the organic investments 1 - For 15% of the shares, the change in the greenhouse gas (GHG) emissions on operated facilities (Scope 1+2) in relation to the achievement of the target to reduce the GHG emissions set for fiscal years 2022, 2023 and 2024. - For 15% of the shares, the criterion of the change in the indirect GHG emissions related to the use by customers of the energy products (Scope 3 2 1 2 C. Share-based payment expense Share-based payment expense before tax was broken down as follows: As of December 31, (M$) 2022 2021 2020 TotalEnergies performance shares plans 200 129 176 SunPower plans (a) 23 25 26 Capital increase reserved for employees 28 14 12 TOTAL 251 168 214 ( a) The main assumptions used for the valuation of the cost of the capital increase reserved for employees in 2022 were the following: For the year ended December 31, 2022 Date of the Board of Directors meeting that decided the issue September 15, 2021 Reference price (€) (a) 46.22 Subscription price (€) (b) 37.00 Number of shares issued (in millions) (c) 9.36 (a) Average of the closing prices of the TotalEnergies shares over the twenty trading sessions preceding April 27, 2022, being the date of the Chairman and CEO’s decision setting the opening date of the subscription period and the subscription price. (b) Reference price, reduced by a 20% discount and rounded off to the highest tenth of a euro. (c) Including the free shares issued. |
Payroll, staff and employee ben
Payroll, staff and employee benefits obligations | 12 Months Ended |
Dec. 31, 2022 | |
Payroll, staff and employee benefits obligations | |
Payroll, staff and employee benefits obligations | Note 10 Payroll, staff and employee benefits obligations 10.1 EMPLOYEE BENEFITS OBLIGATIONS Accounting principles In accordance with the laws and practices of each country, TotalEnergies participates in employee benefit plans offering retirement, death and disability, healthcare and special termination benefits. These plans provide benefits based on various factors such as length of service, salaries, and contributions made to the governmental bodies responsible for the payment of benefits. These plans can be either defined contribution or defined benefit pension plans and may be entirely or partially funded with investments made in various non-consolidated instruments such as mutual funds, insurance contracts, and other instruments. For defined contribution plans, expenses correspond to the contributions paid. Defined benefit obligations are determined according to the Projected Unit Method. Actuarial gains and losses may arise from differences between actuarial valuation and projected commitments (depending on new calculations or assumptions) and between projected and actual return of plan assets. Such gains and losses are recognized in the statement of comprehensive income, with no possibility to subsequently recycle them to the income statement. The past service cost is recorded immediately in the statement of income, whether vested or unvested. The net periodic pension cost is recognized under “Other operating expenses”. Liabilities for employee benefits obligations consist of the following: As of December 31, (M$) 2022 2021 2020 Pension benefits liabilities 1,308 1,966 3,111 Other benefits liabilities 467 633 700 Restructuring reserves (early retirement plans) 54 73 106 TOTAL 1,829 2,672 3,917 Net liabilities relating to assets held for sale – (1) 1 Description of plans and risk management TotalEnergies operates, for the benefit of its current and former employees, both defined benefit plans and defined contribution plans. TotalEnergies recognized a charge of $152 million for defined contribution plans in 2022 ($145 million in 2021 and $135 million in 2020). TotalEnergies’ main defined benefit pension plans are located in France, the United Kingdom, the United States, Belgium and Germany. Their main characteristics, depending on the country-specific regulatory environment, are the following: - the benefits are usually based on the final salary and seniority; - they are usually funded (pension fund or insurer); - they are usually closed to new employees who benefit from defined contribution pension plans; - they are paid in annuity or in lump sum. The pension benefits include also termination indemnities and early retirement benefits. The other benefits are employer contributions to post-employment medical care. In order to manage the inherent risks, TotalEnergies has implemented a dedicated governance framework to ensure the supervision of the different plans. These governance rules provide for: - TotalEnergies' representation in key governance bodies or monitoring committees; - the principles of the funding policy; - the general investment policy, including for most plans: - the establishment of a monitoring committee to define and follow the investment strategy and performance, - the principles in respect of investment allocation are respected; - a procedure to approve the establishment of new plans or the amendment of existing plans; - the principles of administration, communication and reporting. Change in benefit obligations and plan assets The fair value of the defined benefit obligation and plan assets in the Consolidated Financial Statements is detailed as follows: As of December 31, Pension benefits Other benefits (M$) 2022 2021 2020 2022 2021 2020 Change in benefit obligation Benefit obligation at beginning of year 11,777 13,591 12,285 633 700 742 Current service cost 202 247 244 15 17 19 Interest cost 195 164 217 12 8 11 Past service cost 27 (197) – 9 (1) – Settlements 5 3 (10) - – (3) Plan participants' contributions 17 17 10 1 – – Benefits paid (661) (704) (702) (22) (34) (27) Actuarial losses / (gains) (2,502) (734) 818 (155) (11) (89) Foreign currency translation and other (793) (610) 729 (25) (46) 47 Benefit obligation at year-end 8,267 11,777 13,591 467 633 700 Of which plans entirely or partially funded 7,806 11,143 12,830 - – – Of which plans not funded 461 634 761 467 633 700 Change in fair value of plan assets Fair value of plan assets at beginning of year (10,231) (10,580) (9,769) – – – Interest income (190) (146) (191) – – – Actuarial losses / (gains) 2,083 (290) (517) – – – Settlements 2 – 2 – – – Plan participants’ contributions (17) (17) (10) – – – Employer contributions (260) (303) (229) – – – Benefits paid 607 635 622 – – – Foreign currency translation and other 700 470 (488) – – – Fair value of plan assets at year-end (7,306) (10,231) (10,580) – – – UNFUNDED STATUS 961 1,546 3,011 467 633 700 Asset ceiling 46 41 36 – – – NET RECOGNIZED AMOUNT 1,007 1,587 3,047 467 633 700 Pension benefits and other benefits liabilities 1,308 1,966 3,111 467 633 700 Other non-current assets (301) (378) (65) – – – Net benefit liabilities relating to assets held for sale – (1) 1 – – – As of December 31, 2022, the contribution from the main geographical areas for the net pension liability in the balance sheet is: 85% for the Euro area, (10)% for the United Kingdom and 24% for the United States. The amounts recognized in the consolidated income statement and the consolidated statement of comprehensive income for defined benefit plans are detailed as follows: For the year ended December 31, Pension benefits Other benefits (M$) 2022 2021 2020 2022 2021 2020 Current service cost 202 247 244 15 17 19 Past service cost 27 (197) – 9 (1) – Settlements 7 3 (7) – – (3) Net interest cost 5 18 25 12 8 11 Benefit amounts recognized on Profit & Loss 241 71 262 36 24 27 - Actuarial (Gains) / Losses * Effect of changes in demographic assumptions 1 (71) (12) (9) (8) (3) * Effect of changes in financial assumptions (2,617) (450) 773 (138) 2 (1) * Effect of experience adjustments 111 (214) 57 (8) (5) (85) * Actual return on plan assets 2,083 (294) (517) – – – - Effect of asset ceiling 3 5 – – – – Benefit amounts recognized on Equity (419) (1,024) 301 (155) (11) (89) TOTAL BENEFIT AMOUNTS RECOGNIZED ON COMPREHENSIVE INCOME (178) (953) 563 (119) 13 (62) Expected future cash outflows The average duration of accrued benefits is approximately 12 years for defined pension benefits and 15 years for other benefits. TotalEnergies expects to pay contributions of $234 million in respect of funded pension plans in 2023. Estimated future benefits either financed from plan assets or directly paid by the employer are detailed as follows: Estimated future payments (M$) Pension benefits Other benefits 2023 586 25 2024 495 25 2025 504 25 2026 537 25 2027 589 25 2028-2032 3,059 121 Type of assets Asset allocation Pension benefits as of December 31, 2022 2021 2020 Equity securities 26% 39% 25% Debt securities 46% 35% 45% Monetary 3% 1% 2% Annuity contracts 17% 17% 20% Real estate 8% 8% 8% Investments on equity and debt markets are quoted on active markets. Main actuarial assumptions and sensitivity analysis Assumptions used to determine benefits obligations: Pension benefits Other benefits As of December 31, 2022 2021 2020 2022 2021 2020 Discount rate (weighted average for all regions) 4.39% 1.82% 1.28% 4.45% 1.83% 1.41% Of which Euro zone 3.70% 0.99% 0.52% 3.48% 1.05% 0.68% Of which United States 4.50% 3.00% 2.50% 4.50% 3.00% 2.50% Of which United Kingdom 4.75% 2.00% 1.50% – – – Inflation rate (weighted average for all regions) 2.91% 2.41% 2.06% – – – Of which Euro zone 2.49% 1.71% 1.24% – – – Of which United States 2.50% 2.50% 2.50% – – – Of which United Kingdom 3.25% 3.25% 3.00% – – – The discount rate retained is determined by reference to the high quality rates for AA-rated corporate bonds for a duration equivalent to that of the obligations. It derives from a benchmark per monetary area of different market data at the closing date. Sensitivity to inflation in respect of defined benefit pension plans is not material in the United States. A 0.5% increase or decrease in discount rates – all other things being equal - would have the following approximate impact on the benefit obligation: (M$) 0.5% Increase 0.5% Decrease Benefit obligation as of December 31, 2022 (510) 623 A 0.5% increase or decrease in inflation rates – all other things being equal - would have the following approximate impact on the benefit obligation: (M$) 0.5% Increase 0.5% Decrease Benefit obligation as of December 31, 2022 303 (284) 10.2 Payroll and staff For the year ended December 31, 2022 2021 2020 Personnel expenses Wages and salaries (including social charges) 9,002 9,207 8,908 TotalEnergies employees at December 31, France (DROM COM includ.) ● Management 14,130 13,903 14,016 ● Other 20,829 21,232 21,886 International ● Management 18,183 17,346 17,102 ● Other 48,137 48,828 52,472 TOTAL 101,279 101,309 105,476 The number of employees includes only employees of fully consolidated subsidiaries. |
Income taxes
Income taxes | 12 Months Ended |
Dec. 31, 2022 | |
Income taxes | |
Income taxes | Note 11 Income taxes Accounting principles Income taxes disclosed in the statement of income include current tax expenses (or income) and deferred tax expenses (or income). Current tax expenses (or income) are the estimated amount of the tax due for the taxable income of the period. Deferred income taxes are recorded based on the temporary differences between the carrying amounts of assets and liabilities recorded in the balance sheet and their tax bases, and on carry-forwards of unused tax losses and other tax credits. Deferred tax assets and liabilities are measured using the tax rates that have been enacted or substantially enacted at the balance sheet date. The tax rates used depend on the timing of reversals of temporary differences, tax losses and other tax credits. The effect of a change in tax rate is recognized either in the Consolidated Statement of Income or in shareholders’ equity depending on the item it relates to. Deferred tax resulting from temporary differences between the carrying amounts of equity-method investments and their tax bases are recognized. The deferred tax calculation is based on the expected future tax effect (dividend distribution rate or tax rate on capital gains). Income taxes are detailed as follows: For the year ended December 31, (M$) 2022 2021 2020 Current income taxes (19,825) (8,158) (2,450) Deferred income taxes (2,417) (1,429) 2,132 TOTAL INCOME TAXES (22,242) (9,587) (318) Before netting deferred tax assets and liabilities by fiscal entity, the components of deferred tax balances are as follows: As of December 31, (M$) 2022 2021 2020 Net operating losses and tax carry forwards 3,600 5,129 5,106 Employee benefits 409 586 1,004 Other temporary non-deductible provisions 8,813 8,235 9,068 Differences in depreciations (14,692) (15,233) (14,641) Other temporary tax deductions (4,102) (4,221) (3,847) NET DEFERRED TAX LIABILITY (5,972) (5,504) (3,310) The reserves of TotalEnergies subsidiaries that would be taxable if distributed but for which no distribution is planned, and for which no deferred tax liability has therefore been recognized, totaled $1,103 million as of December 31, 2022. Deferred tax assets not recognized as of December 31, 2022, amount to $3,854 million as their future recovery was not regarded as probable given the expected results of the entities. Particularly in the Exploration & Production segment, when the affiliate or the field concerned is in its exploration phase, the net operating losses created during this phase will be useable only if a final investment and development decision is made. Accordingly, the time limit for the utilization of those net operating losses is not known. Deferred tax assets not recognized relate notably to France for an amount of $1,189 million and to Canada for an amount of $998 million. After netting deferred tax assets and liabilities by fiscal entity, deferred taxes are presented on the balance sheet as follows: As of December 31, (M$) 2022 2021 2020 Deferred tax assets 5,049 5,400 7,016 Deferred tax liabilities (11,021) (10,904) (10,326) NET AMOUNT (5,972) (5,504) (3,310) The net deferred tax variation in the balance sheet is analyzed as follows: As of December 31, (M$) 2022 2021 2020 Opening balance (5,504) (3,310) (5,642) Deferred tax on income (2,417) (1,429) 2,132 Deferred tax on shareholders' equity (a) 1,353 (546) 137 Changes in scope of consolidation and others 218 (315) 76 Currency translation adjustment 378 96 (13) CLOSING BALANCE (5,972) (5,504) (3,310) (a) This amount includes mainly deferred taxes on actuarial gains and losses, current income taxes and deferred taxes for changes in fair value of investments inequity instruments, as well as deferred taxes related to the cash flow hedge (see Note 9 to the Consolidated Financial Statements). Reconciliation between provision for income taxes and pre-tax income For the year ended December 31, (M$) 2022 2021 2020 Consolidated net income 21,044 16,366 (7,336) Income taxes 22,242 9,587 318 Pre-tax income 43,286 25,953 (7,018) French statutory tax rate 25.83% 28.41% 32.02% Theoretical tax charge (11,181) (7,373) 2,247 Difference between French and foreign income tax rates (9,625) (3,754) (1,109) Tax effect of equity in income (loss) of affiliates (489) 977 145 Permanent differences exponant (a) (676) 738 665 Adjustments on prior years income taxes 64 109 (31) Adjustments on deferred tax related to changes in tax rates (610) (119) (204) Variation of deferred tax assets not recognized 275 (165) (2,031) INCOME TAXES IN THE STATEMENT OF INCOME (22,242) (9,587) (318) (a) The French statutory tax rate includes the standard corporate tax rate (25%), additional and exceptional applicable taxes that bring the overall tax rate to 25.83% in 2022 (versus 28.41% in 2021 and 32.02% in 2020). Permanent differences are mainly due to impairment of goodwill and to dividends from non-consolidated companies as well as the specific taxation rules applicable to certain activities. Schedule of losses and tax credits carried forward TotalEnergies has deferred tax assets related to losses and carried forward tax credit which expire according to the following years: As of December 31, (M$) 2022 2021 2020 2021 69 2022 27 26 2023 4 1 7 2024 2 5 2 2025 (a) 4 25 1,643 2026 (b) 8 1,652 2027 and after 1,220 Unlimited 2,362 3,419 3,359 TOTAL 3,600 5,129 5,106 (a) 2025 and after for 2020. (b) 2026 and after for 2021. As of December 31, 2022 the schedule of deferred tax assets related to carried forward tax credits on net operating losses for the main countries is as follows: Tax As of December 31, 2022 United (M$) Australia States Canada France 2023 2024 2025 2026 32 2027 and after 326 812 Unlimited 820 581 487 TOTAL 820 907 843 487 |
Provisions and other non-curren
Provisions and other non-current liabilities | 12 Months Ended |
Dec. 31, 2022 | |
Provisions and other non-current liabilities | |
Provisions and other non-current liabilities | Note 12 Provisions and other non-current liabilities 12.1 PROVISIONS AND OTHER NON-CURRENT LIABILITIES Accounting principles A provision is recognized when TotalEnergies has a present obligation, legal or constructive, as a result of a past event for which it is probable that an outflow of resources will be required and when a reliable estimate can be made regarding the amount of the obligation. The amount of the liability corresponds to the best possible estimate. Provisions and non-current liabilities are comprised of liabilities for which the amount and the timing are uncertain. They arise from environmental risks, legal and tax risks, litigation and other risks. As of December 31, (M$) 2022 2021 2020 Litigations and accrued penalty claims 529 285 320 Provisions for environmental contingencies 751 812 960 Asset retirement obligations 13,110 14,976 15,368 Other non-current provisions 3,633 2,766 2,868 of which restructuring activities 282 506 293 of which financial risks related to non-consolidated and equity accounted for affiliates 1,582 265 134 of which contingency reserve on solar panels warranties (SunPower) – 83 82 Other non-current liabilities 3,379 1,430 1,409 TOTAL 21,402 20,269 20,925 In 2022, litigation reserves amount to $529 million of which $257 million in the Exploration & Production, notably in Brazil, Bolivia and Angola, and $159 million in Refining-Chemicals. In 2021, litigation reserves amounted to $285 million of which $192 million in the Exploration & Production, notably in Brazil, Bolivia and Angola. In 2020, litigation reserves amounted to $320 million of which $208 million in the Exploration & Production, notably in Brazil and Angola. Other non-current liabilities mainly include debts whose maturity is more than one year related to fixed assets acquisitions. Changes in provisions and other non-current liabilities Changes in provisions and other non-current liabilities are as follows: Currency As of translation As of (M$) January, 1 Allowances Reversals adjustment Other December, 31 2022 20,269 2,724 (1,397) (834) 640 21,402 of which provisions for financial risks – 1,363 (15) – – – of which asset retirement obligations – 430 (418) – – – of which provisions for environmental contingencies – 97 (133) – – – of which provisions for restructuring of activities – 31 (230) – – – 2021 20,925 1,446 (1,560) (404) (138) 20,269 of which asset retirement obligations – 449 (527) – – – of which provisions for environmental contingencies – 43 (178) – – – of which provisions for restructuring of activities – 415 (178) – – – 2020 20,613 1,756 (1,378) 452 (518) 20,925 of which asset retirement obligations – 607 (519) – – – of which provisions for environmental contingencies – 217 (93) – – – of which provisions for restructuring of activities – 271 (135) – – – Asset retirement obligations Accounting principles Asset retirement obligations, which result from a legal or constructive obligation, are recognized based on a reasonable estimate in the period in which the obligation arises. The associated asset retirement costs are capitalized as part of the carrying amount of the underlying asset and depreciated over the useful life of this asset. An entity is required to measure changes in the liability for an asset retirement obligation due to the passage of time (accretion) by applying a discount rate to the amount of the liability. Given the long-term nature of expenditures related to our asset retirement obligations, the rate is determined by reference to the rates of high quality AA-rated corporate bonds on the USD area for a long-term horizon. The increase of the provision due to the passage of time is recognized as “Other financial expense”. The discount rate used for the valuation of asset retirement obligation is 4% in 2022 and 3% in 2021 and in 2020 (the expenses are estimated at current currency values with an inflation rate of 2% in 2022 and 1.5% in 2021 and in 2020). A decrease of 0.5% of this rate would increase the asset retirement obligation by $955 million, with a corresponding impact in tangible assets, and with a negative impact of approximately $76 million on the following years net income. Conversely, an increase of 0.5% would have a nearly symmetrical impact compared to the effect of the decrease of 0.5%. Changes in the asset retirement obligation are as follows: Spending on Currency As of Revision in New existing translation As of (M$) January 1, Accretion estimates obligations obligations adjustment Other December 31, 2022 14,976 430 (1,172) 198 (418) (663) (241) 13,110 2021 15,368 449 (109) 228 (527) (194) (239) 14,976 2020 14,492 607 526 87 (519) 284 (109) 15,368 12.2 OTHER RISKS AND CONTINGENT LIABILITIES There are no governmental, legal or arbitration proceedings, including any proceeding of which the Corporation is aware that are pending or threatened against the Company, that could have, or could have had during the last 12 months, a material impact on TotalEnergies’ financial situation or profitability. Described below are the main administrative, legal and arbitration proceedings in which the Corporation and the other entities of TotalEnergies are involved. FERC The Office of Enforcement of the US Federal Energy Regulatory Commission (FERC) began in 2015 an investigation in connection with the natural gas trading activities in the United States of TotalEnergies Gas & Power North America, Inc. (TGPNA), a US subsidiary of TotalEnergies. The investigation covered transactions made by TGPNA between June 2009 and June 2012 on the natural gas market. TGPNA received a Notice of Alleged Violations from FERC on September 21, 2015. On April 28, 2016, FERC issued an order to show cause to TGPNA and two of its former employees, and to the Corporation and TotalEnergies Gas & Power Ltd., regarding the same facts. The case was remanded on July 15, 2021 to the FERC Administrative Judge for hearing and consideration on the merits. TGPNA contests the claims brought against it. A class action, launched to seek damages from these three companies, was dismissed by a judgment of the US District court of New York issued on March 15, 2017. The Court of Appeal upheld this judgment on May 4, 2018. In September 2019, a California city initiated another class action against the same parties based on the same legal ground. This class action was dismissed by the US District court of New York on June 8, 2020. This judgment was confirmed on appeal by a ruling issued on December 3, 2021. Dispute relating to Climate In France, the Corporation was assigned in January 2020 before Nanterre’s Court of Justice by certain associations and local communities in order to oblige the Company to complete its Vigilance Plan, by identifying in detail risks relating to a global warming above 1.5°C, as well as indicating the expected amount of future greenhouse gas emissions related to the Company's activities and its product utilization via third parties. TotalEnergies estimates that it has fulfilled its obligations regarding vigilance duty. Also in France, several associations have brought a civil action against TotalEnergies and TotalEnergies Gaz et Electricité France to the Paris Court of Justice, seeking a ruling that the company's corporate communication and the advertising campaign broadcast since May 2021 after the change of name to TotalEnergies contain false or misleading environmental claims. TotalEnergies believes that these accusations are unfounded. In the United States, two subsidiaries of TotalEnergies were assigned in 2017 by certain communities and associations for their liability in climate change before a California Court. These two subsidiaries, as well as the 34 other companies and professional associations, are contesting the State Court's competence to rule this request. in September 2020, the Attorney General of the State of Delaware launched an indemnity claim based upon climate change against the Corporation, Total Specialties USA (now known as TotalEnergies Marketing USA, inc.) and about 30 other oil companies before a court of this State. These Companies are contesting the competence of such court to rule this request. |
Off balance sheet commitments a
Off balance sheet commitments and lease contracts | 12 Months Ended |
Dec. 31, 2022 | |
Off balance sheet commitments and lease contracts | |
Off balance sheet commitments and lease contracts | Note 13 Off balance sheet commitments and lease contracts 13.1 OFF BALANCE SHEET COMMITMENTS AND CONTRACTUAL OBLIGATIONS Maturity and installments As of December 31, 2022 Less than 1 Between 1 More than 5 (M$) Total year and 5 years years Non-current debt obligations net of hedging instruments (Note 15) 35,684 – 14,229 21,455 Current portion of non-current debt obligations net of hedging instruments (Note 15) 5,328 5,328 – – Lease obligations (Note 13.2) 9,714 1,437 3,872 4,405 Asset retirement obligations (Note 12) 13,110 521 1,497 11,092 Contractual obligations recorded in the balance sheet 63,836 7,286 19,598 36,952 Lease obligations for low value assets, short term contracts or not yet commenced (Note 13.2) 1,830 783 610 437 Purchase obligations 139,050 11,286 40,516 87,248 Contractual obligations not recorded in the balance sheet 140,880 12,069 41,126 87,685 TOTAL OF CONTRACTUAL OBLIGATIONS 204,716 19,355 60,724 124,637 Guarantees given to customs authorities 2,003 1,904 53 46 Guarantees given on borrowings 20,218 2,519 5,814 11,885 Guarantees related to sales of businesses 310 157 – 153 Guarantees of current liabilities 62 61 1 – Guarantees to customers / suppliers 23,757 3,539 2,275 17,943 Letters of credit 2,430 2,241 172 17 Other operating commitments 23,039 5,198 900 16,941 TOTAL OF OTHER COMMITMENTS GIVEN 71,819 15,619 9,215 46,985 Assets received as collateral (security interests) 45 14 10 21 Sales obligations 94,977 6,267 36,341 52,369 Other commitments received 25,650 19,261 2,817 3,572 TOTAL OF COMMITMENTS RECEIVED 120,672 25,542 39,168 55,962 Of which commitments given relating to joint ventures 32,054 2,006 5,666 24,382 Of which commitments given relating to associates 52,270 839 11,638 39,793 Maturity and installments As of December 31, 2021 Less than 1 Between 1 More than 5 (M$) Total year and 5 years years Non-current debt obligations net of hedging instruments (Note 15) 40,311 – 16,811 23,500 Current portion of non-current debt obligations net of hedging instruments (Note 15) 5,073 5,073 – – Lease obligations (Note 13.2) 9,034 1,390 3,321 4,323 Asset retirement obligations (Note 12) 14,976 610 1,751 12,615 Contractual obligations recorded in the balance sheet 69,394 7,073 21,883 40,438 Lease obligations for low value assets, short term contracts or not yet commenced (Note 13.2) 1,679 689 543 447 Purchase obligations 136,032 13,333 36,174 86,525 Contractual obligations not recorded in the balance sheet 137,711 14,022 36,717 86,972 TOTAL OF CONTRACTUAL OBLIGATIONS 207,105 21,095 58,600 127,410 Guarantees given to customs authorities 2,236 2,122 50 64 Guarantees given on borrowings 20,428 595 3,734 16,099 Guarantees related to sales of businesses 316 163 – 153 Guarantees of current liabilities 70 69 1 – Guarantees to customers / suppliers 23,494 3,093 4,376 16,025 Letters of credit 2,993 2,869 122 2 Other operating commitments 21,138 3,058 1,594 16,486 TOTAL OF OTHER COMMITMENTS GIVEN 70,675 11,969 9,877 48,829 Assets received as collateral (security interests) 62 37 16 9 Sales obligations 92,555 7,565 33,271 51,719 Other commitments received 22,326 17,285 1,755 3,286 TOTAL OF COMMITMENTS RECEIVED 114,943 24,887 35,042 55,014 Of which commitments given relating to joint ventures 33,373 253 7,353 25,767 Of which commitments given relating to associates 34,491 727 9,110 24,654 Maturity and installments As of December 31, 2020 Less than 1 Between 1 More than 5 (M$) Total year and 5 years years Non-current debt obligations net of hedging instruments (Note 15) 48,705 – 22,745 25,960 Current portion of non-current debt obligations net of hedging instruments (Note 15) 4,674 4,674 – – Lease obligations (Note 13.2) 8,943 1,207 3,178 4,558 Asset retirement obligations (Note 12) 15,368 463 1,840 13,065 Contractual obligations recorded in the balance sheet 77,690 6,344 27,763 43,583 Lease obligations for low value assets, short term contracts or not yet commenced (Note 13.2) 1,745 704 626 415 Purchase obligations 143,177 11,719 39,126 92,332 Contractual obligations not recorded in the balance sheet 144,922 12,423 39,752 92,747 TOTAL OF CONTRACTUAL OBLIGATIONS 222,612 18,767 67,515 136,330 Guarantees given to customs authorities 2,312 2,189 60 63 Guarantees given on borrowings 14,164 746 3,660 9,758 Guarantees related to sales of businesses 333 179 – 154 Guarantees of current liabilities 147 68 56 23 Guarantees to customers / suppliers 19,182 2,603 1,853 14,726 Letters of credit 2,432 2,297 135 – Other operating commitments 23,879 3,224 3,002 17,653 TOTAL OF OTHER COMMITMENTS GIVEN 62,449 11,306 8,766 42,377 Assets received as collateral (security interests) 77 28 24 25 Sales obligations 80,521 7,001 29,362 44,158 Other commitments received 20,401 15,270 1,474 3,657 TOTAL OF COMMITMENTS RECEIVED 100,999 22,299 30,860 47,840 Of which commitments given relating to joint ventures 34,920 644 7,288 26,988 Of which commitments given relating to associates 51,795 999 8,664 42,132 A. Contractual obligations Debt obligations “Non-current debt obligations” are included in the items “Non-current financial debt” and “Non-current financial assets” of the Consolidated Balance Sheet. It includes the non-current portion of swaps hedging bonds and excludes non-current lease obligations of $8,277 million. The current portion of non-current debt is included in the items “Current borrowings”, “Current financial assets” and “Other current financial liabilities” of the Consolidated Balance Sheet. It includes the current portion of swaps hedging bonds and excludes the current portion of lease obligations of $1,437 million. The information regarding contractual obligations linked to indebtedness is presented in Note 15 to the Consolidated Financial Statements. Lease contracts The information regarding leases is presented in Note 13.2 to the Consolidated Financial Statements. Asset retirement obligations This item represents the discounted present value of Exploration & Production and Integrated Gas, Renewables & Power asset retirement obligations, primarily asset removal costs at the completion date. The information regarding contractual obligations linked to asset retirement obligations is presented in Note 12 to the Consolidated Financial Statements. Purchase obligations Purchase obligations are obligations under contractual agreements to purchase goods or services, including capital projects. These obligations are enforceable and legally binding on the company and specify all significant terms, including the amount and the timing of the payments. These obligations mainly include: unconditional hydrocarbon purchase contracts (except where an active, highly-liquid market exists and when the hydrocarbons are expected to be re-sold shortly after purchase) in the Integrated Gas, Renewables & Power segment, reservation of transport capacities in pipelines, unconditional exploration works and development works in the Exploration & Production segment, and contracts for capital investment projects in the Refining & Chemicals segment. B. Other commitments given Guarantees given to customs authorities These consist of guarantees given by TotalEnergies to customs authorities in order to guarantee the payments of taxes and excise duties on the importation of oil and gas products, mostly in France. Guarantees given on borrowings TotalEnergies guarantees bank debt and lease obligations of certain non-consolidated subsidiaries and equity affiliates. Maturity dates vary, and guarantees will terminate on payment and/or cancellation of the obligation. A payment would be triggered by failure of the guaranteed party to fulfill its obligation covered by the guarantee, and no assets are held as collateral for these guarantees. As of December 31, 2022, the maturities of these guarantees are up to 2047. As of December 31, 2022, the guarantees provided by TotalEnergies SE in connection with the financing of the Ichthys LNG project amount to $4,659 million. As of December 31, 2021, the guarantees amounted to $4,860 million. As of December 31, 2022, the guarantees provided by TotalEnergies SE in connection with the financing of the Mozambique LNG project amount to $4,600 million as in 2021. As of December 31, 2022, the guarantees provided by TotalEnergies SE in connection with the financing of the Yamal LNG project amount to $3,483 million. As of December 31, 2021, the guarantees amounted to $3,469 million. As of December 31, 2022, guarantees provided by TotalEnergies SE in connection with the financing of the Bayport Polymers LLC project, amount to $1,820 million as in 2021. As of December 31, 2022, guarantees provided by TotalEnergies Holdings in connection with the financing of the Seagreen project, amount to $1,204 million. As of December 31, 2021, the guarantees amounted to $481 million. As of December 31, 2022, TotalEnergies SE has confirmed guarantees for TotalEnergies Refining Saudi Arabia SAS shareholders' advances for an amount of $1,025 million. As of December 31, 2021, the guarantees amounted to $1,120 million. As of December 31, 2022, the guarantees provided by TotalEnergies SE in connection with the financing of the Arctic LNG2 project amount to $1,013 million. As of December 31, 2021, the guarantees amounted to $1,076 million. Indemnities related to sales of businesses In the ordinary course of business, TotalEnergies executes contracts involving standard indemnities for the oil industry and indemnities specific to transactions such as sales of businesses. These indemnities might include claims against any of the following: environmental, tax and shareholder matters, intellectual property rights, governmental regulations and employment-related matters, and commercial contractual relationships. Performance under these indemnities would generally be triggered by a breach of terms of the contract or by a third party claim. TotalEnergies regularly evaluates the probability of having to incur costs associated with these indemnities. Other guarantees given Non-consolidated subsidiaries TotalEnergies also guarantees the current liabilities of certain non-consolidated subsidiaries. Performance under these guarantees would be triggered by a financial default of the entity. Operating agreements As part of normal ongoing business operations and consistent with generally accepted industry practices, TotalEnergies enters into numerous agreements with other parties. These commitments are often entered into for commercial purposes, for regulatory purposes or for other operating agreements. C. Commitments received Sales obligations These amounts represent binding obligations to sell goods, including in particular hydrocarbon sales contracts (except where an active, highly-liquid market exists and when the volumes are expected to be re-sold shortly after purchase). 13.2 LEASE CONTRACTS Accounting principles A lease contract is a contract that grants lessee the right to use an identified asset for a specified period of time in exchange for consideration. At lease inception, an asset corresponding to right of use and a debt are recognized in the lessee’s balance sheet. Carrying value of right of use corresponds to present value of future lease payments plus any direct costs incurred for concluding the contract. Lease debt is recorded as a liability in the balance sheet under financial debts. Rights of use are depreciated over the useful lives applied by TotalEnergies. Leases that are of short duration or that relate to low value assets are not recorded in the balance sheet, in accordance with the exemptions in the standard. They are presented as off-balance sheet commitments. TotalEnergies mainly leases real estate, retail stations, ships, and other equipment (see Note 7 to the Consolidated Financial Statements). The future minimum lease payments on leases to which TotalEnergies is committed are as follows: For the year ended December 31, 2022 Leases recorded in (M$) Exempted contracts balance sheet 2023 783 2,189 2024 190 1,646 2025 154 1,255 2026 137 1,140 2027 129 993 2028 and beyond 437 6,053 Total minimum payments 1,830 13,276 Less financial expenses (3,562) Nominal value of contracts 9,714 Less current portion of lease contracts (note 15) (1,437) Non-current lease liabilities 8,277 For the year ended December 31, 2021 Leases recorded in (M$) Exempted contracts balance sheet 2022 689 1,835 2023 194 1,347 2024 136 1,199 2025 111 1,097 2026 102 1,021 2027 and beyond 447 6,017 Total minimum payments 1,679 12,516 Less financial expenses (3,482) Nominal value of contracts 9,034 Less current portion of lease contracts (note 15) (1,390) Non-current lease liabilities 7,644 For the year ended December 31, 2020 Leases recorded in (M$) Exempted contracts balance sheet 2021 704 1,659 2022 252 1,366 2023 159 1,117 2024 118 1,022 2025 97 964 2026 and beyond 415 6,325 Total minimum payments 1,745 12,453 Less financial expenses (3,510) Nominal value of contracts 8,943 Less current portion of lease contracts (note 15) (1,207) Non-current lease liabilities 7,736 For the year ended December 31, 2022, rental expense recorded in the income statement and incurred under short term leases or low value assets leases and under variable lease payments is $701 million and $151 million, respectively. For the year ended December 31, 2021, rental expense recorded in the income statement and incurred under short term leases or low value assets leases and under variable lease payments was $487 million and $242 million, respectively. For the year ended December 31, 2020, rental expense recorded in the income statement and incurred under short team leases or low value assets leases and under variable lease payments was $600 million and $162 million, respectively. Other information required on lease debts, notably their maturity, is presented in Note 15 to the consolidated financial statements. |
Financial assets and liabilitie
Financial assets and liabilities analysis per instrument class and strategy | 12 Months Ended |
Dec. 31, 2022 | |
Financial assets and liabilities analysis per instrument class and strategy | |
Financial assets and liabilities analysis per instrument class and strategy | Note 14 Financial assets and liabilities analysis per instrument class and strategy The financial assets and liabilities disclosed in the balance sheet are detailed as follows: As of December 31, 2022 Other (M$) Fair value through Comprehensive Fair value of bonds Assets / (Liabilities) Amortized cost P&L Income hedging instruments Total Fair value Equity affiliates: loans 3,733 – – – 3,733 3,733 Other investments – 932 119 – 1,051 1,051 Non-current financial assets 1,428 490 – 813 2,731 2,731 Other non-current assets 2,087 – – – 2,087 2,087 Accounts receivable, net (b) 24,378 – – – 24,378 24,378 Other operating receivables 8,069 19,529 691 – 28,289 28,289 Current financial assets 7,536 1,071 137 2 8,746 8,746 Cash and cash equivalents 33,026 – – – 33,026 33,026 Total financial assets 80,257 22,022 947 815 104,041 104,041 Total non-financial assets – – – – 199,823 – TOTAL ASSETS – – – – 303,864 – Non-current financial debt (a) (41,235) (283) – (3,746) (45,264) (43,471) Accounts payable (b) (41,346) – – – (41,346) (41,346) Other operating liabilities (16,412) (17,994) (780) – (35,186) (35,186) Current borrowings (a) (15,502) – – – (15,502) (15,518) Other current financial liabilities – (226) – (262) (488) (488) Total financial liabilities (114,495) (18,503) (780) (4,008) (137,786) (136,009) Total non-financial liabilities – – – – (166,078) – TOTAL LIABILITIES – – – – (303,864) – (a) The financial debt is adjusted to the hedged risks value (currency and interest rate) as part of hedge accounting (see Note 15 to the Consolidated Financial Statements). (b) The impact of offsetting on accounts receivable, net is $(10,156) million and $10,156 million on accounts payable . As of December 31, 2021 Other (M$) Fair value through Comprehensive Fair value of bonds Assets / (Liabilities) Amortized cost P&L Income hedging instruments Total Fair value Equity affiliates: loans 4,532 – – – 4,532 4,532 Other investments – 1,052 573 – 1,625 1,625 Non-current financial assets 847 770 – 787 2,404 2,404 Other non-current assets 2,419 – – – 2,419 2,419 Accounts receivable, net (b) 21,983 – – – 21,983 21,983 Other operating receivables 7,141 21,067 1,345 – 29,553 29,553 Current financial assets 12,001 272 – 42 12,315 12,315 Cash and cash equivalents 21,342 – – – 21,342 21,342 Total financial assets 70,265 23,161 1,918 829 96,173 96,173 Total non-financial assets 197,285 TOTAL ASSETS 293,458 Non-current financial debt (a) (47,973) (41) – (1,498) (49,512) (53,144) Accounts payable (b) (36,837) – – – (36,837) (36,837) Other operating liabilities (11,128) (15,266) (900) – (27,294) (27,294) Current borrowings (a) (15,035) – – – (15,035) (15,039) Other current financial liabilities – (56) – (316) (372) (372) Total financial liabilities (110,973) (15,363) (900) (1,814) (129,050) (132,686) Total non-financial liabilities (164,408) TOTAL LIABILITIES (293,458) (a) The financial debt is adjusted to the hedged risks value (currency and interest rate) as part of hedge accounting (see Note 15 to the Consolidated Financial Statements). (b) The impact of offsetting on accounts receivable, net is $(4,584) million and $4,584 million on accounts payable . As of December 31, 2020 Other (M$) Fair value through Comprehensive Fair value of bonds Assets / (Liabilities) Amortized cost P&L Income hedging instruments Total Fair value Equity affiliates: loans 5,129 – – – 5,129 5,129 Other investments – 1,224 783 – 2,007 2,007 Non-current financial assets 1,019 541 – 3,221 4,781 4,781 Other non-current assets 2,745 – – – 2,745 2,745 Accounts receivable, net (b) 14,068 – – – 14,068 14,068 Other operating receivables 6,615 1,428 – – 8,043 8,043 Current financial assets 4,547 65 – 18 4,630 4,630 Cash and cash equivalents 31,268 – – – 31,268 31,268 Total financial assets 65,391 3,258 783 3,239 72,671 72,671 Total non-financial assets 193,461 TOTAL ASSETS 266,132 Non-current financial debt (a) (58,470) (118) – (1,615) (60,203) (66,210) Accounts payable (b) (23,574) – – – (23,574) (23,574) Other operating liabilities (10,635) (3,666) – (1) (14,302) (14,302) Current borrowings (a) (17,099) – – – (17,099) (17,121) Other current financial liabilities – (99) – (104) (203) (203) Total financial liabilities (109,778) (3,883) – (1,720) (115,381) (121,410) Total non-financial liabilities (150,751) TOTAL LIABILITIES (266,132) (a) The financial debt is adjusted to the hedged risks value (currency and interest rate) as part of hedge accounting (see Note 15 to the Consolidated Financial Statements). (b) The impact of offsetting on accounts receivable, net is $(1,844) million and $1,844 million on accounts payable . |
Financial structure and financi
Financial structure and financial costs | 12 Months Ended |
Dec. 31, 2022 | |
Financial structure and financial costs | |
Financial structure and financial costs | Note 15 Financial structure and financial costs 15.1 FINANCIAL DEBT AND DERIVATIVE FINANCIAL INSTRUMENTS A) Non-current financial debt and derivative financial instruments As of December 31, 2022 (M$) (Assets) / Liabilities Secured Unsecured Total Non-current financial debt 8,329 36,935 45,264 of which hedging instruments of non-current financial debt (liabilities) – 3,746 3,746 Non-current financial assets (1,428) (1,303) (2,731) of which hedging instruments of non-current financial debt (assets) – (813) (813) NON-CURRENT NET FINANCIAL DEBT AND RELATED FINANCIAL INSTRUMENTS 6,901 35,632 42,533 Variable rate bonds or bonds after fair value hedge – 8,958 8,958 Fixed rate bonds or bonds after cash flow hedge – 26,159 26,159 Other floating rate debt 13 227 240 Other fixed rate debt 39 496 535 Lease obligations 8,277 – 8,277 Non-current financial assets excluding derivative financial instruments (1,428) – (1,428) Non-current instruments held for trading – (208) (208) NON-CURRENT NET FINANCIAL DEBT AND RELATED FINANCIAL INSTRUMENTS 6,901 35,632 42,533 As of December 31, 2021 (M$) (Assets) / Liabilities Secured Unsecured Total Non-current financial debt 7,720 41,792 49,512 of which hedging instruments of non-current financial debt (liabilities) – 1,498 1,498 Non-current financial assets (847) (1,557) (2,404) of which hedging instruments of non-current financial debt (assets) – (787) (787) NON-CURRENT NET FINANCIAL DEBT AND RELATED FINANCIAL INSTRUMENTS 6,873 40,235 47,108 Variable rate bonds or bonds after fair value hedge – 12,820 12,820 Fixed rate bonds or bonds after cash flow hedge – 27,147 27,147 Other floating rate debt 15 634 649 Other fixed rate debt 61 363 424 Lease obligations 7,644 – 7,644 Non-current financial assets excluding derivative financial instruments (847) (675) (1,522) Non-current instruments held for trading – (54) (54) NON-CURRENT NET FINANCIAL DEBT AND RELATED FINANCIAL INSTRUMENTS 6,873 40,235 47,108 As of December 31, 2020 (M$) (Assets) / Liabilities Secured Unsecured Total Non-current financial debt 7,849 52,354 60,203 of which hedging instruments of non-current financial debt (liabilities) – 1,615 1,615 Non-current financial assets (1,019) (3,762) (4,781) of which hedging instruments of non-current financial debt (assets) – (3,221) (3,221) NON-CURRENT NET FINANCIAL DEBT AND RELATED FINANCIAL INSTRUMENTS 6,830 48,592 55,422 Variable rate bonds or bonds after fair value hedge – 16,553 16,553 Fixed rate bonds or bonds after cash flow hedge – 28,080 28,080 Other floating rate debt 40 3,944 3,984 Other fixed rate debt 73 438 511 Lease obligations 7,736 – 7,736 Non-current financial assets excluding derivative financial instruments (1,019) (432) (1,451) Non-current instruments held for trading – 9 9 NON-CURRENT NET FINANCIAL DEBT AND RELATED FINANCIAL INSTRUMENTS 6,830 48,592 55,422 The bonds, as of December 31, 2022, after taking into account currency and interest rates swaps fair value, are detailed as follows: Amount Amount Amount Bonds after fair value hedge or after after after Range Range of initial current rate variable rate bonds (a) Currency of December 31, December 31, December 31, of current before hedging (M$) issuance 2022 2021 2020 maturities instruments Bond USD 5,042 5,001 6,253 2023-2028 2.434% - 3.883 % Bond USD – – – Bond CHF 407 409 410 2026 - 2029 0.176% - 0.298 % Bond NZD – – – Bond AUD 71 71 377 2025 4.000 % Bond EUR 5,574 7,528 8,666 2023 - 2044 0.250% - 3.125 % Bond EUR – – – Bond CAD – – – Bond GBP 925 1,524 1,522 2025 - 2031 1.405% - 2.250 % Bond HKD 129 129 129 2025 2.920 % Current portion (less than one year) (3,890) (2,540) (2,699) Principal financing entities (b) 8,258 12,122 14,658 TotalEnergies SE (c) Bond – 1,200 1,200 Current portion (less than one year) – (1,200) – Other consolidated subsidiaries 700 698 695 TOTAL VARIABLE RATE BONDS OR BONDS AFTER FAIR VALUE HEDGE 8,958 12,820 16,553 Amount Amount Amount Bonds after cash flow hedge or after after after Range Range of initial current rate fixed rate bonds Currency of December 31, December 31, December 31, of current before hedging (M$) issuance 2022 2021 2020 maturities instruments Bond EUR 15,628 15,487 15,259 2024 - 2044 0.696 % - 5.125 % Bond USD 8,783 9,941 11,524 2023 - 2060 2.829% - 3.461 % Bond HKD 187 200 208 2026 3.088 % Bond CHF 1,076 1,113 1,134 2024 - 2027 0.510% - 1.010 % Bond GBP 985 1,004 998 2024 - 2026 1.250% - 1.660 % Bond AUD (2) 5 9 2025 4.000 % Current portion (less than one year) (500) (1,000) (1,500) Principal financing entities (b) 26,157 26,750 27,632 Other consolidated subsidiaries 2 397 448 TOTAL FIXED RATE BONDS OR BONDS AFTER CASH FLOW HEDGE 26,159 27,147 28,080 (a) The IBOR rate reform will mainly impact the bonds after fair value hedge, on principal financing entities and TotalEnergies SE, indexed on the USLIBOR rate. At December 31, 2022, the amount of the bonds after fair value hedge (both non-current and current portions) on principal financing entities and TotalEnergies SE is $ 12,148 million. (b) All debt securities issued through the following subsidiaries are fully and unconditionally guaranteed by TotalEnergies SE as to payment of principal, premium, if any, interest and any other amounts due: - TotalEnergies Capital is a wholly and directly owned subsidiary of TotalEnergies SE (except for one share held by each director). It acts as a financing vehicle for TotalEnergies. The repayment of its financial debt (capital, premium and interest) is fully and unconditionally guaranteed by TotalEnergies SE. - TotalEnergies Capital Canada Ltd. is a wholly and directly owned subsidiary of TotalEnergies SE. It acts as a financing vehicle for the activities of TotalEnergies in Canada. The repayment of its financial debt (capital, premium and interest) is fully and unconditionally guaranteed by TotalEnergies SE. - TotalEnergies Capital International is a wholly and directly owned subsidiary of TotalEnergies SE (except for one share held by each director). It acts as a financing vehicle for TotalEnergies. The repayment of its financial debt (capital, premium and interest) is fully and unconditionally guaranteed by TotalEnergies SE. Loan repayment schedule (excluding current portion) of which hedging of which hedging instruments instruments Non-current net As of December 31, of non ‑ current Non-current of non-current financial debt and 2022 Non ‑ current financial debt financial financial debt related financial (M$) financial debt (liabilities) assets (assets) instruments % 2024 7,251 399 (899) (56) 6,352 15 % 2025 4,701 552 (259) (168) 4,442 10 % 2026 3,465 467 (194) (107) 3,271 8 % 2027 3,522 217 (104) (17) 3,418 8 % 2028 and beyond 26,325 2,111 (1,275) (465) 25,050 59 % TOTAL 45,264 3,746 (2,731) (813) 42,533 100 % of which hedging of which hedging instruments instruments Non-current net As of December 31, of non ‑ current Non-current of non-current financial debt and 2021 Non ‑ current financial debt financial financial debt related financial (M$) financial debt (liabilities) assets (assets) instruments % 2023 6,143 115 (111) (51) 6,032 13 % 2024 6,506 190 (219) (103) 6,287 13 % 2025 4,471 194 (89) (51) 4,382 9 % 2026 3,348 238 (71) (34) 3,277 7 % 2027 and beyond 29,044 761 (1,914) (548) 27,130 58 % TOTAL 49,512 1,498 (2,404) (787) 47,108 100 % of which hedging of which hedging instruments instruments Non-current net As of December 31, of non ‑ current Non-current of non-current financial debt and 2020 Non ‑ current financial debt financial financial debt related financial (M$) financial debt (liabilities) assets (assets) instruments % 2022 9,932 142 (142) (58) 9,790 18 % 2023 5,988 59 (268) (218) 5,720 10 % 2024 6,340 115 (395) (277) 5,945 11 % 2025 4,535 150 (260) (212) 4,275 8 % 2026 and beyond 33,408 1,149 (3,716) (2,456) 29,692 53 % TOTAL 60,203 1,615 (4,781) (3,221) 55,422 100 % Analysis by currency and interest rate These analyses take into account interest rate and foreign currency swaps to hedge non-current financial net debt. As of December 31, (M$) 2022 % 2021 % 2020 % U.S. Dollar 38,896 91 % 44,387 94 % 48,609 88 % Euro 2,083 5 % 1,708 4 % 3,144 6 % Norwegian krone 47 0 % 67 0 % 72 0 % Other currencies 1,507 4 % 946 2 % 3,597 6 % TOTAL 42,533 100 % 47,108 100 % 55,422 100 % As of December 31, (M$) 2022 % 2021 % 2020 % Fixed rate 33,533 79 % 34,353 73 % 34,870 63 % Floating rate 9,000 21 % 12,755 27 % 20,552 37 % TOTAL 42,533 100 % 47,108 100 % 55,422 100 % B) Current financial assets and liabilities Current borrowings consist mainly of drawings on commercial papers or treasury bills and of bank loans. These instruments bear interest at rates that are close to market rates. Current deposits beyond three months include initial margins held as part of the Company’s activities on organized markets. As of December 31, (M$) (Assets) / Liabilities 2022 2021 2020 Current financial debt (a) 8,997 8,846 11,305 Current lease obligations 1,437 1,390 1,206 Current portion of non-current financial debt 5,068 4,799 4,588 Current borrowings (note 14) 15,502 15,035 17,099 Current portion of hedging instruments of debt (liabilities) 262 316 104 Other current financial instruments (liabilities) 226 56 99 Other current financial liabilities (note 14) 488 372 203 Current deposits beyond three months (8,127) (11,868) (4,436) Non-traded marketable securities (218) (195) – Financial receivables on sub-lease, current (190) (132) (111) Current portion of hedging instruments of debt (assets) (2) (42) (18) Other current financial instruments (assets) (209) (78) (65) Current financial assets (note 14) (8,746) (12,315) (4,630) NET CURRENT BORROWINGS 7,244 3,092 12,672 (a) As of December 31, 2022, December 31, 2021 and December 31, 2020, current financial debt includes notably short-term negotiable debt security issued through programs fully and unconditionally secured by TotalEnergies SE. C) Cash flow from (used in) financing activities The variations of financial debt are detailed as follows: Non-cash changes As of Change in scope, Reclassification As of January 1, Cash including IFRS 5 Foreign Changes in Non-current / December 31, (M$) 2022 changes reclassification currency fair value Current Other 2022 Non-current financial instruments - assets (a) and non-current financial assets (2,404) – 24 52 (448) 198 (153) (2,731) Non-current financial debt 49,512 1,108 (696) (225) 175 (6,981) 2,371 45,264 Non-current financial debt and related financial instruments 47,108 1,108 (672) (173) (273) (6,783) 2,218 42,533 Current financial instruments - assets (a) (252) 264 – 6 (97) (198) (124) (401) Current borrowings 15,035 (6,337) (316) (106) (69) 6,981 314 15,502 Current financial instruments - liabilities (a) 372 – – (9) 125 – – 488 Current financial debt and related financial instruments 15,155 (6,073) (316) (109) (41) 6,783 190 15,589 Financial debt and financial assets classified as held for sale (4) – (34) – – – – (38) NET FINANCIAL DEBT 62,259 (4,965) (1,022) (282) (314) – 2,408 58,084 (a) Fair value or cash flow hedge instruments and other non-hedge debt-related derivative instruments. Non-cash changes As of Change in scope, Reclassification As of January 1, Cash including IFRS 5 Foreign Changes in Non-current / December 31, (M$) 2021 changes reclassification currency fair value Current other 2021 Non-current financial instruments - assets (a) and non-current financial assets (4,781) (290) 1 64 2,432 188 (18) (2,404) Non-current financial debt 60,203 (359) (58) (183) (2,377) (9,254) 1,540 49,512 Non-current financial debt and related financial instruments 55,422 (649) (57) (119) 55 (9,066) 1,522 47,108 Current financial instruments - assets (a) (194) 191 - 8 (45) (188) (24) (252) Current borrowings 17,099 (11,047) 15 (283) (158) 9,254 155 15,035 Current financial instruments - liabilities (a) 203 - 1 (11) 179 - – 372 Current financial debt and related financial instruments 17,108 (10,856) 16 (286) (24) 9,066 131 15,155 Financial debt and financial assets classified as held for sale 313 - (306) (11) – – – (4) Net financial debt 72,843 (11,505) (347) (416) 31 – 1,653 62,259 (a) Fair value or cash flow hedge instruments and other non-hedge debt-related derivative instruments. Non-cash changes As of Change in scope, Reclassification As of January 1, Cash including IFRS 5 Foreign Changes in Non-current / December 31, (M$) 2020 changes reclassification currency fair value Current other 2020 Non-current financial instruments - assets (a) (912) (228) 3 (59) (2,729) 118 (974) (4,781) Non-current financial debt 47,773 15,800 (456) 192 2,973 (8,711) 2,632 60,203 Non-current financial debt and related financial instruments 46,861 15,572 (453) 133 244 (8,593) 1,658 55,422 Current financial instruments - assets (a) (268) 178 – (6) 46 (118) (26) (194) Current borrowings 14,819 (6,679) 6 (132) 188 8,711 186 17,099 Current financial instruments - liabilities (a) 487 – (5) 8 (287) – – 203 Current financial debt and related financial instruments 15,038 (6,501) 1 (130) (53) 8,593 160 17,108 Financial debt and financial assets classified as held for sale 301 – (10) 22 – – – 313 NET FINANCIAL DEBT 62,200 9,071 (462) 25 191 – 1,818 72,843 (a) Fair value or cash flow hedge instruments and other non-hedge debt-related derivative instruments. Monetary changes in non-current financial debt are detailed as follows: For the year ended December 31, (M$) 2022 2021 2020 Issuance of non-current debt 1,148 808 16,075 Repayment of non-current debt (40) (1,167) (275) NET AMOUNT 1,108 (359) 15,800 D) Cash and cash equivalents Accounting principles Cash and cash equivalents are composed of cash on hand and highly liquid short-term investments that are easily convertible into known amounts of cash and are subject to insignificant risks of changes in value. Investments with maturity greater than three months and less than twelve months are shown under “Current financial assets”. Changes in current financial assets and liabilities are included in the financing activities section of the Consolidated Statement of Cash Flows. Cash and cash equivalents are detailed as follows: For the year ended December 31, (M$) 2022 2021 2020 Cash 14,873 13,544 14,518 Cash equivalents 18,153 7,798 16,750 TOTAL 33,026 21,342 31,268 Cash equivalents are mainly composed of deposits with a maturity of less than three months, deposited in government institutions or deposit banks selected in accordance with strict criteria. As of December 31, 2022, the cash and cash equivalents include $2,352 million subject to restrictions, notably due to regulatory framework or to the fact they are owned by affiliates located in countries with exchange controls. E) Net-debt-to-capital ratio For its internal and external communication needs, TotalEnergies calculates a debt ratio by dividing its net financial debt excluding leases by its capital. The ratio is calculated as follows: Net debt excluding leases / (Equity + Net debt excluding leases) As of December 31, (M$) (Assets) / Liabilities 2022 2021 2020 Current borrowings (a) 14,065 13,645 15,893 Other current financial liabilities 488 372 203 Current financial assets (a) (8,556) (12,183) (4,519) Net financial assets and liabilities held for sale or exchange (38) (4) 313 Non-current financial debt (a) 36,987 41,868 52,467 Non-current financial assets (a) (1,303) (1,557) (3,762) Cash and cash equivalents (33,026) (21,342) (31,268) Net financial debt 8,617 20,799 29,327 Shareholders’ equity – TotalEnergies share 111,724 111,736 103,702 Distribution of the income based on existing shares at the closing date 2,846 3,263 2,383 Shareholders’ equity 114,570 114,999 106,085 NET-DEBT-TO-CAPITAL RATIO EXCLUDING LEASES 7.0 % 15.3 % 21.7 % (a) excluding lease receivables & lease debts. 15.2 F AIR VALUE OF FINANCIAL INSTRUMENTS (EXCLUDING COMMODITY CONTRACTS) Accounting principles TotalEnergies uses derivative instruments to manage its exposure to risks of changes in interest rates, foreign exchange rates and commodity prices. These financial instruments are accounted for in accordance with IFRS 9, changes in fair value of derivative instruments are recognized in the income statement or in other comprehensive income and are recognized in the balance sheet in the accounts corresponding to their nature, according to the risk management strategy. The derivative instruments used by TotalEnergies are the following: - Financial instruments used for cash management purposes are part of a hedging strategy of currency and interest rate risks within global limits set by TotalEnergies and are considered to be held for trading. Changes in fair value are systematically recorded in the income statement. The balance sheet value of those instruments is included in “Current financial assets” or “Other current financial liabilities”. - When an external long-term financing is set up, specifically to finance subsidiaries, and when this financing involves currency and interest rate derivatives, these instruments are qualified as: 1) Fair value hedge of the interest rate and currency risks on the external debt financing the loans to subsidiaries. Changes in fair value of derivatives are recognized in the income statement, as are changes in fair value of underlying financial debts and loans to subsidiaries. The fair value of those hedging instruments of long-term financing is included in assets under “Non-current financial assets” or in liabilities under “Non-current financial debt” for the non-current portion. The current portion (less than one year) is accounted for in “Current financial assets” or “Other current financial liabilities”. In case of the anticipated termination of derivative instruments accounted for as fair value hedges, the amount paid or received is recognized in the income statement and: ● ● In case of a change in the strategy of the hedge (fair value hedge to cash flow hedge), if the components of the initial aggregated exposure had already been designated in a hedging relationship (FVH), TotalEnergies designates the new instrument as a hedging instrument of an aggregated position (CFH) without having to end the initial hedging relationship. 2) Cash flow hedge when TotalEnergies implements a strategy of fixing interest rate and/or currency rate on the external debt. Changes in fair value are recorded in other comprehensive income for the effective portion of the hedging and in the income statement for the ineffective portion of the hedging. When the hedged transaction affects profit or loss, the fair value variations of the hedging instrument recorded in equity are also symmetrically recycled to the income statement. The fair value of those hedging instruments of long-term financing is included in assets under “Non-current financial assets” or in liabilities under “Non-current financial debt” for the non-current portion. The current portion (less than one year) is accounted for in “Current financial assets” or “Other current financial liabilities”. If the hedging instrument expires, is sold or terminated by anticipation, gains or losses previously recognized in equity remain in equity. Amounts are recycled to the income statement only when the hedged transaction affects profit or loss. 3) In compliance with IFRS 9, TotalEnergies has decided to recognize in a separate component of the comprehensive income the variation of foreign currency basis spread (Cross Currency Swaps) identified in the hedging relationships qualified as fair value hedges and cash flow hedges. - Certain financial instruments hedge against risks related to the equity of foreign subsidiaries whose functional currency is not the euro (mainly the dollar). These instruments qualify as “net investment hedges” and changes in fair value are recorded in other comprehensive income under "Currency translation" for the effective portion of the hedging and in the income statement for the ineffective portion of the hedging. Gains or losses on hedging instruments previously recorded in equity, are reclassified to the income statement in the same period as the total or partial disposal of the foreign activity. The fair value of these instruments is recorded under "Current financial assets" and "Other current financial liabilities". - Put options granted to non-controlling-interest shareholders are initially recognized as financial liabilities at the present value of the exercise price of the options with a corresponding reduction in shareholders’ equity – TotalEnergies share. The financial liability is subsequently measured at fair value at each balance sheet date in accordance with contractual clauses and any variation is recorded in the income statement (cost of debt). A) Impact on the income statement per nature of financial instruments Assets and liabilities from financing activities The impact on the income statement of financing assets and liabilities mainly includes: ● Financial income on cash, cash equivalents, and current financial assets (notably current deposits beyond three months) classified as “Loans and receivables”; ● Financial expense of long-term subsidiaries financing, associated hedging instruments (excluding ineffective portion of the hedge detailed below) and financial expense of short-term financing classified as “Financing liabilities and associated hedging instruments”; ● Ineffective portion of bond hedging; ● Financial income and financial expense on lease contracts and, ● Financial income, financial expense and fair value of derivative instruments used for cash management purposes classified as “Assets and liabilities held for trading”. Financial derivative instruments used for cash management purposes (interest rate and foreign exchange) are considered to be held for trading. Based on practical documentation issues, TotalEnergies did not elect to set up hedge accounting for such instruments. The impact on income statement of the derivatives is offset by the impact of loans and current liabilities they are related to. Therefore these transactions taken as a whole do not have a significant impact on the Consolidated Financial Statements. For the year ended December 31, (M$) 2022 2021 2020 Loans and receivables 562 188 154 Financing liabilities and associated hedging instruments (1,812) (1,373) (1,660) Fair value hedge (ineffective portion) (5) (10) 12 Lease assets and obligations (458) (413) (422) Assets and liabilities held for trading 470 83 (194) IMPACT ON THE COST OF NET DEBT (1,243) (1,525) (2,110) B) Impact of the hedging strategies Fair value hedge instruments The impact on the income statement of the bond hedging instruments which is recorded in the item “Financial interest on debt” in the Consolidated Statement of Income is detailed as follows: For the year ended December 31, (M$) 2022 2021 2020 Revaluation impact at market value of bonds 3,817 3,199 (4,004) Swaps hedging bonds (3,822) (3,209) 4,016 INEFFECTIVE PORTION OF THE FAIR VALUE HEDGE (5) (10) 12 The ineffective portion is not representative of TotalEnergies’ performance considering its objective to hold swaps to maturity. The current portion of the swaps valuation is not subject to active management. Net investment hedge As of December 31, 2022, 2021 and 2020 TotalEnergies had no open forward contracts held in respect of net investment hedge strategies. Cash flow hedge The impact on the income statement and other comprehensive income of the bonds hedging instruments qualified as cash flow hedges is detailed as follows: For the year ended December 31, (M$) 2022 2021 2020 Profit (Loss) recorded in other comprehensive income of the period 72 (167) (327) Recycled amount from other comprehensive income to the income statement of the period (55) (113) 139 As of December 31, 2022, 2021 and 2020, the ineffective portion of these financial instruments is nil. Hedging instruments and hedged items by strategy Fair Value Hedge The following charts regarding Fair Value Hedge, disclose by nature of hedging instruments (Interest Rate Swaps and Cross Currency Swaps): - The nominal amounts and carrying amounts of hedging instruments; - The carrying amounts of hedged items and cumulative FVH adjustments included in the carrying amounts of the hedged items; - The hedged items that have ceased to be adjusted for hedging gains and losses. For the year ended December 31, 2022 (M$) Cumulative FVH Nominal adjustments included amount of Carrying amount of Carrying amount of in the carrying amount Line items in the Hedging hedging hedging instruments hedged items of the hedged items statement of Hedged items instruments instruments Assets Liabilities Assets Liabilities Assets Liabilities financial position Interest Rate Financial debt / Bonds Swaps 5,000 – (151) – (4,892) – 108 Financial assets Cross Currency Financial debt / Bonds Swaps 7,029 – (1,124) – (5,982) – 1,047 Financial assets End of hedging (before 2018) – – – – – – (8) For the year ended December 31, 2021 (M$) Cumulative FVH Nominal adjustments included amount of Carrying amount of Carrying amount of in the carrying amount Line items in the Hedging hedging hedging instruments hedged items of the hedged items statement of Hedged items instruments instruments Assets Liabilities Assets Liabilities Assets Liabilities financial position Bonds Interest Rate Financial debt / Swaps 6,767 303 (36) – (7,037) – (837) Financial assets Bonds Cross Currency Financial debt / Swaps 9,566 154 (382) – (8,865) – 701 Financial assets End of hedging (before 2018) – – – – – – (27) For the year ended December 31, 2020 Cumulative FVH (M$) Nominal adjustments included amount of Carrying amount of Carrying amount of in the carrying amount Line items in the Hedging hedging hedging instruments hedged items of the hedged items statement of Hedged items instruments instruments Assets Liabilities Assets Liabilities Assets Liabilities financial position Bonds Interest Rate 8,063 527 (15) – (8,586) – (1,136) Financial debt / Financial assets Bonds Cross Currency 11,011 836 (211) – (11,109) – (98) Financial debt / Financial assets End of hedging (before 2018) – – – – – – (47) Cash Flow Hedge The following charts regarding Cash Flow Hedge disclose the nominal amounts and carrying amounts by nature of hedging instruments (Interest Rate Swaps and Cross Currency Swaps). According to IFRS 9, there is no accounting entry related to Cash Flow Hedge on hedged items. Nominal Nature of amount of Carrying amount of Line items in the For the year ended December 31, 2022 hedging hedging hedging instruments statement of (M$) instruments instruments Assets Liabilities financial position Interest Rate Financial debt / Bonds Swaps 12,782 815 (2) Financial assets Cross Currency Financial debt / Bonds Swaps 17,511 – (2,731) Financial assets Nominal Nature of amount of Carrying amount of Line items in the For the year ended December 31, 2021 hedging hedging hedging instruments statement of (M$) instruments instruments Assets Liabilities financial position Interest Rate Financial debt / Bonds Swaps 12,782 – (736) Financial assets Cross Currency Financial debt / Bonds Swaps 17,511 372 (660) Financial assets Nominal Nature of amount of Carrying amount of Line items in the For the year ended December 31, 2020 hedging hedging hedging instruments statement of (M$) instruments instruments Assets Liabilities financial position Interest Rate Financial debt / Bonds Swaps 12,781 – (1,441) Financial assets Cross Currency Financial debt / Bonds Swaps 17,511 1,856 (32) Financial assets C) Maturity of derivative instruments The maturity of the notional amounts of derivative instruments, excluding the commodity contracts, is detailed in the following table: For the year ended December 31, 2022 Notional Notional value schedule (M$) Fair value Fair 2024 2028 Assets / (Liabilities) value 2023 value and beyond 2024 2025 2026 2027 and beyond Fair value hedge Swaps hedging bonds (assets) – 1,000 – – Swaps hedging bonds (liabilities) (260) 2,858 (1,015) 8,171 Total swaps hedging bonds - fair value hedge (260) 3,858 (1,015) 8,171 2,087 1,630 202 820 3,432 Cash flow hedge Swaps hedging bonds (assets) 2 250 813 11,782 Swaps hedging bonds (liabilities) (2) 750 (2,731) 17,511 Total swaps hedging bonds - cash flow hedge – 1,000 (1,918) 29,293 3,659 4,459 4,069 2,071 15,035 Forward exchange contracts related to operating activities (assets) 4 70 3 91 Forward exchange contracts related to operating activities (liabilities) (19) 187 (19) 433 Total forward exchange contracts related to operating activities (15) 257 (16) 524 524 – – – – Held for trading Other interest rate swaps (assets) 154 14,955 447 7,470 Other interest rate swaps (liabilities) (94) 13,236 (226) 4,128 Total other interest rate swaps 60 28,191 221 11,598 5,233 3,716 1,174 1,022 453 Currency swaps and forward exchange contracts (assets) 55 7,076 44 1,289 Currency swaps and forward exchange contracts (liabilities) (110) 15,964 (57) 839 Total currency swaps and forward exchange contracts (55) 23,040 (13) 2,128 391 1,737 – – – Notional amounts set the levels of commitment and are indicative nor of a contingent gain or loss neither of a related debt. For the year ended December 31, 2021 Notional Notional value schedule (M$) Fair va |
Financial instruments related t
Financial instruments related to commodity contracts | 12 Months Ended |
Dec. 31, 2022 | |
Financial instruments related to commodity contracts | |
Financial instruments related to commodity contracts | Note 16 Financial instruments related to commodity contracts 16.1 FINANCIAL INSTRUMENTS RELATED TO COMMODITY CONTRACTS Accounting principles Financial instruments related to commodity contracts, including crude oil, petroleum products, gas, and power purchase/sales contracts within the trading activities, together with the commodity contract derivative instruments and freight rate swaps, are used to adjust TotalEnergies' exposure to price fluctuations within global trading limits . The valuation methodology is to mark-to-market all open positions for both physical and paper transactions. The valuations are determined on a daily basis using observable market data based on organized and over the counter (OTC) markets. In specific cases when market data is not directly available, the valuations are derived from observable data such as arbitrages, freight or spreads and market corroboration. For valuation of risks which are the result of a calculation, such as options for example, commonly known models are used to compute the fair value. Net balance As of December 31, 2022 Gross value Amounts sheet value Other (M$) before offsetting offset presented amounts not Net carrying Fair Assets / (Liabilities) assets liabilities assets (c) liabilities (c) assets liabilities offset amount value (b) Integrated Gas, Renewables & Power activities Swaps 1,268 (449) (18) 18 1,250 (431) – 819 819 Forwards (a) 18,014 (18,638) (1,994) 1,994 16,020 (16,644) – (624) (624) Options 2,143 (1) (1) 1 2,142 – – 2,142 2,142 Futures 13 (3) – – 13 (3) – 10 10 Other/Collateral – – – – – – (406) (406) (406) Total Integrated Gas, Renewables & Power 21,438 (19,091) (2,013) 2,013 19,425 (17,078) (406) 1,941 1,941 Crude oil, petroleum products and freight rates activities Petroleum products, crude oil and freight rate swaps 122 (114) (58) 58 64 (56) – 8 8 Forwards (a) 631 (1,489) (7) 7 624 (1,482) – (858) (858) Options 76 (227) (69) 69 7 (158) – (151) (151) Futures – – – – – – – – – Options on futures 113 (13) (13) 13 100 – – 100 100 Other/Collateral – – – – – – – – – Total crude oil, petroleum products and freight rates 942 (1,843) (147) 147 795 (1,696) – (901) (901) TOTAL 22,380 (20,934) (2,160) 2,160 20,220 (18,774) (406) 1,040 1,040 Total of fair value non recognized in the balance sheet – (a) Forwards: contracts resulting in physical delivery are accounted for as derivative commodity contracts and included in the amounts shown. (b) When the fair value of derivatives listed on an organized exchange market (futures, options on futures and swaps) is offset with the margin call received or paid in the balance sheet, this fair value is set to zero. (c) Amounts offset in accordance with IAS 32. Net balance As of December 31, 2021 Gross value Amounts sheet value Other (M$) before offsetting offset presented amounts not Net carrying Fair Assets / (Liabilities) assets liabilities assets (c) liabilities (c) assets liabilities offset amount value (b) Integrated Gas, Renewables & Power activities Swaps 92 (385) (35) 35 57 (350) – (293) (293) Forwards (a) 21,752 (16,954) (2,120) 2,120 19,632 (14,834) – 4,798 4,798 Options 1,953 (63) (3) 3 1,950 (60) – 1,890 1,890 Futures 418 (430) (183) 183 235 (247) – (12) (12) Other/Collateral – – – – – – 382 382 382 Total Integrated Gas, Renewables & Power 24,215 (17,832) (2,341) 2,341 21,874 (15,491) 382 6,765 6,765 Crude oil, petroleum products and freight rates activities Petroleum products, crude oil and freight rate swaps 245 (289) (166) 166 79 (123) – (44) (44) Forwards (a) 411 (444) (88) 88 323 (356) – (33) (33) Options 68 (236) (40) 40 28 (196) – (168) (168) Futures – – – – – – – – – Options on futures 186 (78) (78) 78 108 – – 108 108 Other/Collateral – – – – – – 344 344 344 Total crude oil, petroleum products and freight rates 910 (1,047) (372) 372 538 (675) 344 207 207 TOTAL 25,125 (18,879) (2,713) 2,713 22,412 (16,166) 726 6,972 6,972 Total of fair value non recognized in the balance sheet – (a) Forwards: contracts resulting in physical delivery are accounted for as derivative commodity contracts and included in the amounts shown. (b) When the fair value of derivatives listed on an organized exchange market (futures, options on futures and swaps) is offset with the margin call received or paid in the balance sheet, this fair value is set to zero. (c) Amounts offset in accordance with IAS 32. Net balance As of December 31, 2020 Gross value Amounts sheet value Other (M$) before offsetting offset presented amounts not Net carrying Fair Assets / (Liabilities) assets liabilities assets (c) liabilities (c) assets liabilities offset amount value (b) Integrated Gas, Renewables & Power activities Swaps 10 (71) – – 10 (71) – (61) (61) Forwards (a) 1,372 (3,113) (186) 186 1,186 (2,927) – (1,741) (1,741) Options (61) (75) (13) 13 (74) (62) – (136) (136) Futures 42 (32) (21) 21 21 (11) – 10 10 Other/Collateral – – – – – – 22 22 22 Total Integrated Gas, Renewables & Power 1,363 (3,291) (220) 220 1,143 (3,071) 22 (1,906) (1,906) Crude oil, petroleum products and freight rates activities Petroleum products, crude oil and freight rate swaps 302 (443) (207) 207 95 (236) – (141) (141) Forwards (a) 158 (297) (13) 13 145 (284) – (139) (139) Options 113 (125) (68) 68 45 (57) – (12) (12) Futures – – – – – – – – – Options on futures 117 (135) (117) 117 – (18) – (18) (18) Other/Collateral – – – – – – 43 43 43 Total crude oil, petroleum products and freight rates 690 (1,000) (405) 405 285 (595) 43 (267) (267) TOTAL 2,053 (4,291) (625) 625 1,428 (3,666) 65 (2,173) (2,173) Total of fair value non recognized in the balance sheet (a) Forwards: contracts resulting in physical delivery are accounted for as derivative commodity contracts and included in the amounts shown. (b) When the fair value of derivatives listed on an organized exchange market (futures, options on futures and swaps) is offset with the margin call received or paid in the balance sheet, this fair value is set to zero. (c) Amounts offset in accordance with IAS 32. Commitments on crude oil and refined products have, for the most part, a short-term maturity (less than one year The changes in fair value of financial instruments related to commodity contracts are detailed as follows: For the year ended December 31, Fair value Impact on Settled Fair value as of (M$) as of January 1, income contracts Other December 31, Integrated Gas, Renewables & Power activities 2022 6,383 11,406 (15,628) 186 2,347 2021 (1,928) 6,817 1,408 86 6,383 2020 (260) 676 (2,348) 4 (1,928) Crude oil, petroleum products and freight rates activities 2022 (137) 5,891 (6,655) – (901) 2021 (310) 3,950 (3,777) – (137) 2020 (282) 3,813 (3,841) – (310) The fair value hierarchy for financial instruments related to commodity contracts is as follows: Quoted prices in active markets for Prices based on Prices based on As of December 31, 2022 identical observable data non observable (M$) assets (level 1) (level 2) data (level 3) Total Integrated Gas, Renewables & Power activities 1,034 1,678 (365) 2,347 Crude oil, petroleum products and freight rates activities 98 (999) – (901) TOTAL 1,132 679 (365) 1,446 Quoted prices in active markets for Prices based on Prices based on As of December 31, 2021 identical observable data non observable (M$) assets (level 1) (level 2) data (level 3) Total Integrated Gas, Renewables & Power activities 3,716 (3,563) 6,230 6,383 Crude oil, petroleum products and freight rates activities 134 (271) – (137) TOTAL 3,850 (3,834) 6,230 6,246 Quoted prices in active markets for Prices based on Prices based on As of December 31, 2020 identical observable data non observable (M$) assets (level 1) (level 2) data (level 3) Total Integrated Gas, Renewables & Power activities (159) (361) (1,408) (1,928) Crude oil, petroleum products and freight rates activities 10 (320) – (310) TOTAL (149) (681) (1,408) (2,238) Financial instruments classified as level 3 are mainly composed of long-term liquefied natural gas purchase and sale contracts which relate to the trading activity. The management of positions is carried out on the basis of a net value of LNG purchase and sale commitments; the valuation of contracts is based on observable market data, such as commodity forward prices, but it also takes into account unobservable data on contract performance (assumptions on the variable terms of the contracts, on the availability of infrastructures, on the performance of counterparties). The valuation of LNG contracts is sensitive to changes in oil and natural gas prices on North American, Asian and European markets, as well as to these assumptions on contract performance. TotalEnergies’ management horizon is 12 months in 2022 (as in 2021 and 2020), and includes the full annual delivery program of LNG cargoes for the following year. The analysis of the fair value of the LNG portfolio over the period beyond 12 months carried out by the Company, allows to verify that there is no material asset or liability to be recognized in its accounts for that period. This analysis, which takes into account the specific characteristics of LNG contracts and of the gas market, including its liquidity, incorporates valuation parameters that are unobservable over this period, in particular Company internal assumptions on the long-term evolution of hydrocarbon prices, the execution of contracts and the performance of counterparties, the renegotiation of price terms in contracts or the exercise of their contractual flexibilities. The description of each fair value level is presented in Note 15 to the Consolidated Financial Statements. Cash Flow hedge The impact on the income statement and other comprehensive income of the hedging instruments related to commodity contracts and qualified as cash flow hedges is detailed as follows: As of December 31 (M$) 2022 2021 2020 Profit (Loss) recorded in other comprehensive income of the period (5,524) 445 14 Recycled amount from other comprehensive income to the income statement of the period 1,317 (56) (1) These financial instruments are mainly one year 2 As of December 31, 2022, the ineffective portion of these financial instruments is $132 million (in 2021 and in 2020 the ineffective portion of the financial instruments was nil). 16.2 Oil, Gas and Power markets related risks management Due to the nature of its business, TotalEnergies has significant oil and gas trading activities as part of its day-to-day operations in order to optimize revenues from its oil and gas production and to obtain favorable pricing to supply its refineries. In its international oil trading business, TotalEnergies usually follows a policy of not selling its future production. However, in connection with this trading business, TotalEnergies, like most other oil companies, uses energy derivative instruments to adjust its exposure to price fluctuations of crude oil, refined products, natural gas, and power. TotalEnergies also uses freight rate derivative contracts in its shipping business to adjust its exposure to freight-rate fluctuations. To hedge against this risk, TotalEnergies uses various instruments such as futures, forwards, swaps and options on organized markets or over-the-counter markets. The list of the different derivatives held by TotalEnergies in these markets is detailed in Note 16.1 to the Consolidated Financial Statements. As part of its gas and power trading activity, TotalEnergies also uses derivative instruments such as futures, forwards, swaps and options in both organized and over-the-counter markets. In general, the transactions are settled at maturity date through physical delivery. TotalEnergies measures its market risk exposure, i.e. one Integrated Gas, Renewables & Power division trading: "value-at-risk" with a 97.5% probability As of December 31, (M$) High Low Average Year end 2022 119 15 53 92 2021 80 9 28 30 2020 51 6 21 27 The Trading & Shipping division measures its market risk exposure, i.e. 24 The “value-at-risk” represents the most unfavorable movement in fair value obtained with a 97.5% confidence level. This means that TotalEnergies’ portfolio result is likely to exceed the value-at-risk loss measure once over 40 business days if the portfolio exposures were left unchanged. Trading & Shipping: "value-at-risk with" a 97.5% probability As of December 31, (M$) High Low Average Year end 2022 48 9 22 27 2021 36 9 18 12 2020 30 6 15 19 TotalEnergies has implemented strict policies and procedures to manage and monitor these market risks. These are based on the separation of control and front-office functions and on an integrated information system that enables real-time monitoring of trading activities. Limits on trading positions are approved by TotalEnergies’ Executive Committee and are monitored daily. To increase flexibility and encourage liquidity, hedging operations are performed with numerous independent operators, including other oil companies, major energy producers or consumers and financial institutions. TotalEnergies has established counterparty limits and monitors outstanding amounts with each counterparty on an ongoing basis. |
Post closing events
Post closing events | 12 Months Ended |
Dec. 31, 2022 | |
Post closing events | |
Post closing events | Note 17 Post closing events TotalEnergies’ investments in India Following the allegations against Adani Group published on January 24, 2023 by Hindenburg Research, TotalEnergies issued a statement on February 3, 2023 providing the following clarifications on its joint investments in India, in partnership with Adani since 2018. The following table lists TotalEnergies' current stakes in partnerships with Adani: Adani Total Private Limited 50 % Adani Total Gas Limited (quoted) 37.4 % Adani Green Energy Limited (quoted) 19.75 % AGEL23 50 % TotalEnergies' exposure resulting from these stakes represents 2.4% ($3.1 billion at December 31, 2022) of the Company's capital employed and $180 million of net operating income in 2022. These investments being accounted for under the equity method, TotalEnergies has not performed any re-evaluation in its accounts of its stakes in the listed entities ATGL and AGEL in relation to the increase in their stock values. |
Consolidation scope
Consolidation scope | 12 Months Ended |
Dec. 31, 2022 | |
Consolidation scope | |
Consolidation scope | Note 18 Consolidation scope As of December 31, 2022, 1,149 entities are consolidated of which 169 are accounted for under the equity method (E). The table below presents a comprehensive list of the consolidated entities: Business % Company Country of segment Statutory corporate name interest Method incorporation Country of operations Exploration & Production Abu Dhabi Gas Industries Limited 15.00 % E United Arab Emirates United Arab Emirates Angola LNG Supply Services, LLC 13.60 % E United States United States Bonny Gas Transport Limited 15.00 % E Bermuda Nigeria Brass Holdings B.V. 100.00 % Netherlands Nigeria Brass LNG Limited 20.48 % E Nigeria Nigeria Congo Forest Company (CFC) 100.00 % Congo Congo Deer Creek Pipelines Limited 75.00 % Canada Canada Dolphin Energy Limited 24.50 % E United Arab Emirates United Arab Emirates E.F. Oil And Gas Limited 100.00 % United Kingdom United Kingdom East African Crude Oil Pipeline (EACOP) Ltd 62.00 % E United Kingdom Uganda Elf E&P 100.00 % France France Elf Exploration UK Limited 100.00 % United Kingdom United Kingdom Elf Petroleum Iran 100.00 % France Iran Elf Petroleum UK Limited 100.00 % United Kingdom United Kingdom Gas Investment and Services Company Limited 10.00 % E Bermuda Oman Global Forestry Development (GFD) 49.00 % E Belgium Belgium Mabruk Oil Operations 49.02 % France Libya Marsa LNG LLC 80.00 % Oman Oman Norpipe Oil A/S 34.93 % E Norway Norway Norpipe Petroleum UK Limited 45.22 % E United Kingdom Norway Norpipe Terminal Holdco Limited 45.22 % E United Kingdom Norway Norsea Pipeline Limited 45.22 % E United Kingdom Norway North Oil Company 30.00 % E Qatar Qatar Northern Lights JV DA 33.33 % E Norway Norway Pars LNG Limited 40.00 % E Bermuda Iran Private Oil Holdings Oman Limited 10.00 % E United Kingdom Oman Stogg Eagle Funding B.V. 100.00 % Netherlands Nigeria TOQAP Guyana B.V. 60.00 % Netherlands Guyana Total Austral 100.00 % France Argentina Total E&P Al Shaheen A/S 100.00 % Denmark Qatar Total E&P Angola Block 15/06 100.00 % France Angola Total E&P Angola Block 16 100.00 % France Angola Total E&P Angola Block 16 Holdings 100.00 % France Angola Total E&P Angola Block 33 100.00 % France Angola Total E&P Angola Block 39 100.00 % France Angola Total E&P Chine 100.00 % France China Total E&P Chissonga 100.00 % France Angola Total E&P Dunga GmbH 100.00 % Germany Kazakhstan Total E&P East El Burullus Offshore B.V. 100.00 % Netherlands Egypt Total E&P Egypt Block 2 B.V. 100.00 % Netherlands Egypt Total E&P Egypt Offshore Western Desert B.V. 100.00 % Netherlands Egypt Total E&P Egypte 100.00 % France Egypt Total E&P Guyane Francaise 100.00 % France France Total E&P Jutland Denmark B.V. 100.00 % Netherlands Denmark Total E&P Kurdistan Region of Iraq (Harir) B.V. 100.00 % Netherlands Iraq Total E&P Kurdistan Region of Iraq (Safen) B.V. 100.00 % Netherlands Iraq Total E&P Kurdistan Region of Iraq (Taza) B.V. 100.00 % Netherlands Iraq Total E&P Kurdistan Region of Iraq B.V. 100.00 % Netherlands Iraq Total E&P M2 Holdings Limited 100.00 % South Africa South Africa Total E&P Myanmar 100.00 % France Myanmar Total E&P Participations Petrolieres Congo 100.00 % Congo Congo Total E&P Philippines B.V. 100.00 % Netherlands Philippines Total E&P RDC 100.00 % Democratic Republic of Congo Democratic Republic of Congo Total E&P Services China Company Limited 100.00 % China China Total E&P South Pars 100.00 % France Iran Total E&P South Sudan 100.00 % France Republic of South Sudan Total E&P Syrie 100.00 % France Syrian Arab Republic Total E&P Tajikistan B.V. 100.00 % Netherlands Tajikistan Total Oil and Gas South America 100.00 % France France Total Pars LNG 100.00 % France France Total South Pars 100.00 % France Iran Total Venezuela 100.00 % France France TotalEnergies Anchor USA LLC 100.00 % United States United States TotalEnergies BTC B.V. 100.00 % Netherlands Azerbaijan TotalEnergies Denmark ASW 100.00 % United States Denmark TotalEnergies Denmark ASW Pipeline ApS 100.00 % Denmark Denmark TotalEnergies E&P Algérie 100.00 % France Algeria TotalEnergies E&P Algérie Berkine A/S 100.00 % Denmark Algeria TotalEnergies E&P Americas LLC 100.00 % United States United States TotalEnergies E&P Colombie 100.00 % France Colombia TotalEnergies E&P New Ventures Inc. 100.00 % United States United States TotalEnergies E&P North Sea UK Ltd 100.00 % United Kingdom United Kingdom TotalEnergies E&P Research & Technology USA LLC 100.00 % United States United States TotalEnergies E&P UK Ltd 100.00 % United Kingdom United Kingdom TotalEnergies E&P USA Inc. 100.00 % United States United States TotalEnergies E&P USA Oil Shale LLC 100.00 % United States United States TotalEnergies E&P USA Well Containment LLC 100.00 % United States United States TotalEnergies East Africa Midstream B.V. 100.00 % Netherlands Uganda TotalEnergies EP (Brunei) B.V. 100.00 % Netherlands Brunei TotalEnergies EP Absheron B.V. 100.00 % Netherlands Azerbaijan TotalEnergies EP Abu Al Bu Khoosh 100.00 % France United Arab Emirates TotalEnergies EP Angola 100.00 % France Angola TotalEnergies EP Angola Block 17.06 100.00 % France Angola TotalEnergies EP Angola Block 25 100.00 % France Angola TotalEnergies EP Angola Block 29 100.00 % France Angola TotalEnergies EP Angola Block 32 100.00 % France Angola TotalEnergies EP Angola Block 40 100.00 % France Angola TotalEnergies EP Angola Block 48 B.V. 100.00 % Netherlands Angola TotalEnergies EP Angola Blocks 20-21 100.00 % France Angola TotalEnergies EP Asia Pacific Pte. Ltd 100.00 % Singapore Singapore TotalEnergies EP Azerbaijan B.V. 100.00 % Netherlands Azerbaijan TotalEnergies EP Block 9 100.00 % France Lebanon TotalEnergies EP Bolivie 100.00 % France Bolivia TotalEnergies EP Brasil Ltda 100.00 % Brazil Brazil TotalEnergies EP Bulgaria B.V. 100.00 % Netherlands Bulgaria TotalEnergies EP Cambodge 100.00 % France Cambodia TotalEnergies EP Canada Ltd 100.00 % Canada Canada TotalEnergies EP Company UK Ltd 100.00 % United Kingdom United Kingdom TotalEnergies EP Congo 85.00 % Congo Congo TotalEnergies EP Côte d'Ivoire B.V. 100.00 % Netherlands Côte d'Ivoire TotalEnergies EP Cyprus B.V. 100.00 % Netherlands Cyprus TotalEnergies EP Danmark A/S 100.00 % Denmark Denmark TotalEnergies EP Danmark A/S - CPH 100.00 % Denmark Denmark TotalEnergies EP Dolphin Holdings 100.00 % France France TotalEnergies EP Dolphin Midstream 100.00 % France France TotalEnergies EP Dolphin Upstream 100.00 % France Qatar TotalEnergies EP France 100.00 % France France TotalEnergies EP Gabon 58.28 % Gabon Gabon TotalEnergies EP Gass Handel Norge AS 100.00 % Norway Norway TotalEnergies EP Gastransport Nederland B.V. 100.00 % Netherlands Netherlands TotalEnergies EP Golfe 100.00 % France Qatar TotalEnergies EP Greece B.V. 100.00 % Netherlands Greece TotalEnergies EP Guyana B.V. 100.00 % Netherlands Guyana TotalEnergies EP Holding UAE B.V. 100.00 % Netherlands United Arab Emirates TotalEnergies EP Holdings Russia 100.00 % France France TotalEnergies EP International K1 Ltd 100.00 % United Kingdom Kenya TotalEnergies EP International K2 Ltd 100.00 % United Kingdom Kenya TotalEnergies EP International K3 Ltd 100.00 % United Kingdom Kenya TotalEnergies EP International Ltd 100.00 % United Kingdom Kenya TotalEnergies EP Iran B.V. 100.00 % Netherlands Iran TotalEnergies EP Iraq 100.00 % France Iraq TotalEnergies EP Italia S.p.A. 100.00 % Italy Italy TotalEnergies EP Kazakhstan 100.00 % France Kazakhstan TotalEnergies EP Kenya B.V. 100.00 % Netherlands Kenya TotalEnergies EP Liban S.A.L. 100.00 % Lebanon Lebanon TotalEnergies EP Libye 100.00 % France Libya TotalEnergies EP Lower Zakum B.V. 100.00 % Netherlands United Arab Emirates TotalEnergies EP Malaysia 100.00 % France Malaysia TotalEnergies EP Mauritania Block C18 B.V. 100.00 % Netherlands Mauritania TotalEnergies EP Mauritania Block C9 B.V. 100.00 % Netherlands Mauritania TotalEnergies EP Mauritania Blocks DW B.V. 100.00 % Netherlands Mauritania TotalEnergies EP Mauritanie 100.00 % France Mauritania TotalEnergies EP M'Bridge B.V. 100.00 % Netherlands Angola TotalEnergies EP Mexico S.A. de C.V. 100.00 % Mexico Mexico TotalEnergies EP Namibia B.V. 100.00 % Netherlands Namibia TotalEnergies EP Nederland B.V. 100.00 % Netherlands Netherlands TotalEnergies EP Nigeria Deepwater A Ltd 100.00 % Nigeria Nigeria TotalEnergies EP Nigeria Deepwater B Ltd 100.00 % Nigeria Nigeria TotalEnergies EP Nigeria Deepwater C Ltd 100.00 % Nigeria Nigeria TotalEnergies EP Nigeria Deepwater D Ltd 100.00 % Nigeria Nigeria TotalEnergies EP Nigeria Deepwater E Ltd 100.00 % Nigeria Nigeria TotalEnergies EP Nigeria Deepwater F Ltd 100.00 % Nigeria Nigeria TotalEnergies EP Nigeria Deepwater G Ltd 100.00 % Nigeria Nigeria TotalEnergies EP Nigeria Deepwater H Ltd 100.00 % Nigeria Nigeria TotalEnergies EP Nigeria Ltd 100.00 % Nigeria Nigeria TotalEnergies EP Nigeria S.A.S. 100.00 % France France TotalEnergies EP Norge AS 100.00 % Norway Norway TotalEnergies EP Oman Block 11 B.V. 100.00 % France Oman TotalEnergies EP Oman S.A.S. 100.00 % France Oman TotalEnergies EP Petroleum Angola 100.00 % France Angola TotalEnergies EP Pipelines Danmark A/S 100.00 % Denmark Denmark TotalEnergies EP Profils Petroliers 100.00 % France France TotalEnergies EP Qatar 100.00 % France Qatar TotalEnergies EP Qatar 2 100.00 % France Qatar TotalEnergies EP Ratawi Hub 100.00 % France Iraq TotalEnergies EP Russie 100.00 % France Russia TotalEnergies EP Sao Tome and Principe B.V. 100.00 % Netherlands Angola TotalEnergies EP Sebuku 100.00 % France Indonesia TotalEnergies EP Senegal 100.00 % France Senegal TotalEnergies EP Services Brazil B.V. 100.00 % Netherlands Netherlands TotalEnergies EP South Africa B.V. 100.00 % Netherlands South Africa TotalEnergies EP South Africa Block 567 (Pty) Ltd 100.00 % South Africa South Africa TotalEnergies EP Suriname B.V. 100.00 % Netherlands Suriname TotalEnergies EP Thailand 100.00 % France Thailand TotalEnergies EP UAE Unconventional Gas B.V. 100.00 % Netherlands United Arab Emirates TotalEnergies EP Uganda S.A.S. 100.00 % France Uganda TotalEnergies EP Umm Shaif Nasr B.V. 100.00 % Netherlands United Arab Emirates TotalEnergies EP Venezuela B.V. 100.00 % Netherlands Venezuela TotalEnergies EP Vostok LLC 100.00 % Russia Russia TotalEnergies EP Waha 100.00 % Cayman Islands Libya TotalEnergies EP Well Response 100.00 % France France TotalEnergies EP Yemen 100.00 % France Yemen TotalEnergies EP Yemen Block 3 B.V. 100.00 % Netherlands Yemen TotalEnergies Holdings EACOP S.A.S. 100.00 % France Uganda TotalEnergies Holdings International B.V. 100.00 % Netherlands Netherlands TotalEnergies Holdings Nederland B.V. 100.00 % Netherlands Netherlands TotalEnergies Jack USA LLC 100.00 % United States United States TotalEnergies LNG Supply Services USA 100.00 % United States United States TotalEnergies Nature Based Solutions 100.00 % France France TotalEnergies Nature Based Solutions II 100.00 % France France TotalEnergies Nederland Facilities Management B.V. 100.00 % Netherlands Netherlands TotalEnergies Offshore GB Ltd 100.00 % United Kingdom United Kingdom TotalEnergies Offshore UK Ltd 100.00 % United Kingdom United Kingdom TotalEnergies Petróleo & Gás Brasil Ltda 100.00 % Brazil Brazil TotalEnergies Shipping Brazil B.V. 100.00 % Netherlands Brazil TotalEnergies Termokarstovoye S.A.S. 100.00 % France France TotalEnergies Upstream Danmark A/S 100.00 % Denmark Denmark TotalEnergies Upstream Nigeria 100.00 % Nigeria Nigeria TotalEnergies Upstream UK Ltd 100.00 % United Kingdom United Kingdom Uintah Colorado Resources, LLC 66.67 % United States United States Uintah Colorado Resources II, LLC 100.00 % United States United States Business % Company Country of segment Statutory corporate name interest Method incorporation Country of operations Integrated Gas, Renewables & Power Abarloar Solar S.L.U. 100.00 % Spain Spain Abu Dhabi Gas Liquefaction Company Limited 5.00 % E United Arab Emirates United Arab Emirates Adani Gas Limited AGL 37.40 % E India India Adani Green Energy Ltd 19.75 % E India India Adani Green Energy Twenty Three Limited 50.00 % E India India Adani Total Private Limited (d) 50.00 % E India India Advanced Thermal Batteries Inc. 50.00 % E United States United States Aerospatiale Batteries (ASB) 50.00 % E France France Aerowatt Energies 65.00 % E France France Aerowatt Energies 2 51.00 % E France France Al Kharsaa Solar Holdings B.V. 49.00 % E Netherlands Netherlands Alamo Solarbay S.L.U. 100.00 % Spain Spain Alcad AB 100.00 % Sweden Sweden Alicante 50.00 % E France France Alicante 2 50.00 % E France France Altergie Territoires 2 44.58 % E France France Altergie Territoires 3 50.00 % E France France Amber Solar Power Cinco, S.L. 65.00 % E Spain Spain Amber Solar Power Cuatro, S.L. 65.00 % E Spain Spain Amber Solar Power Dieciseis, S.L. 65.00 % E Spain Spain Amber Solar Power Diez, S.L. 65.00 % E Spain Spain Amber Solar Power Nueve, S.L. 65.00 % E Spain Spain Amber Solar Power Quince, S.L. 65.00 % E Spain Spain Amber Solar Power Tres, S.L. 65.00 % E Spain Spain Amber Solar Power Uno, S.L. 65.00 % E Spain Spain Amura Solar, S.L.U. 100.00 % Spain Spain Anayet Solar, S.L.U. 100.00 % Spain Spain Anclote Solar, S.L.U. 100.00 % Spain Spain Ancora Solar, S.L.U. 100.00 % Spain Spain Andromeda Solarbay HP S.L. 100.00 % Spain Spain Angola LNG Ltd 13.60 % E Bermuda Angola Arbotante Solar, S.L.U. 100.00 % Spain Spain Arctic LNG 2 LLC 10.00 % E Russia Russia Armada Solar, S.L.U. 100.00 % Spain Spain ATJV Offshore 50.00 % E Singapore Singapore Atolón Solar, S.L.U. 100.00 % Spain Spain Attentive Energy, LLC 84.00 % E United States United States Auriga Generacion S.L. 100.00 % Spain Spain Automotive Cells Company, S.E. 33.33 % E France France Baker Creek Solar, LLC 100.00 % United States United States Baser Comercializadora de Referencia 100.00 % Spain Spain BioBearn S.A.S. 100.00 % France France BioDeac S.A.S. 65.00 % E France France BioGasconha S.A.S. 100.00 % France France Biogaz Breuil 100.00 % France France Biogaz Chatillon 100.00 % France France Biogaz Corcelles 100.00 % France France Biogaz Epinay 100.00 % France France Biogaz Libron 100.00 % France France Biogaz Milhac 100.00 % France France Biogaz Soignolles 100.00 % France France Biogaz Torcy 100.00 % France France Biogaz Vert Le Grand 100.00 % France France Biogaz Viriat 100.00 % France France BioLoie S.A.S. 55.00 % E France France BioPommeria S.A.S. 100.00 % France France BioQuercy S.A.S. 66.00 % E France France Bioroussillon S.A.S. 100.00 % France France Biovilleneuvois S.A.S. 100.00 % France France Blue Gem Wind Limited 80.00 % E United Kingdom United Kingdom Brazoria Solar I, LLC 100.00 % United States United States Brazoria Solar II, LLC 100.00 % United States United States Cameron LNG Holdings LLC 16.60 % E United States United States Castille 50.00 % E France France Cefeo Solar S.L. 100.00 % Spain Spain Centaurus Environment S.L.U. 100.00 % Spain Spain Central Solaire RENFR 331 100.00 % France France Centrale Eolienne De La Vallee Gentillesse 74.80 % France France Centrale Hydrolique Alas 100.00 % France France Centrale Hydrolique Ardon 90.00 % France France Centrale Hydrolique Arvan 100.00 % France France Centrale Hydrolique Barbaira 100.00 % France France Centrale Hydrolique Bonnant 100.00 % France France Centrale Hydrolique Gavet 100.00 % France France Centrale Hydrolique Miage 100.00 % France France Centrale Hydrolique Previnquieres 100.00 % France France Centrale Photovoltaique De Merle Sud 40.58 % E France France Centrale Solaire 2 100.00 % France France Centrale Solaire 21.09-4 100.00 % France France Centrale Solaire APV R&D 100.00 % France France Centrale Solaire Autoprod 100.00 % France France Centrale Solaire Beauce Val de Loire 60.00 % France France Centrale Solaire Borde Blanche 100.00 % France France Centrale Solaire Cet d'Al Gouty 100.00 % France France Centrale Solaire Chemin De Melette 51.00 % E France France Centrale Solaire De Cazedarnes 75.00 % France France Centrale Solaire Dom 100.00 % France France Centrale Solaire Du Centre Ouest 100.00 % France France Centrale Solaire Du Lavoir 60.00 % France France Centrale Solaire Estarac 35.00 % E France France Centrale Solaire Forum Laudun 100.00 % France France Centrale Solaire Gatilles 100.00 % France France Centrale Solaire Golbey 100.00 % France France Centrale Solaire Guinots 60.00 % E France France Centrale Solaire Heliovale 59.63 % E France France Centrale Solaire La Potence 100.00 % France France Centrale Solaire La Roquette 100.00 % France France Centrale Solaire La Tastere 60.00 % E France France Centrale Solaire Lacoste 100.00 % France France Centrale Solaire Larampeau 100.00 % France France Centrale Solaire Les Cordeliers 83.98 % France France Centrale Solaire Les Cordeliers 2 75.00 % France France Centrale Solaire Lodes 50.00 % E France France Centrale Solaire Lot 1 100.00 % France France Centrale Solaire Mazeran Lr 50.00 % E France France Centrale Solaire Merle Sud 2 60.00 % E France France Centrale Solaire Olinoca 10.00 % E France France Centrale Solaire Ombrieres Cap Agathois 83.98 % France France Centrale Solaire Ombrieres De Blyes 60.00 % France France Centrale Solaire Plateau De Pouls 51.00 % France France Centrale Solaire Pouy Negue 2 100.00 % France France Centrale Solaire RENFR 436 100.00 % France France Centrale Solaire Solarshare Bordeaux 100.00 % France France Centrale Solaire Terre du Roi 100.00 % France France Centrale Solaire Toiture Josse 60.00 % E France France Centrale Solaire Vauvoix 60.00 % E France France Centrale Solaire Zabo 2 100.00 % France France Cerezo Solar, S.L.U. 100.00 % Spain Spain Cidra Solar, S.L.U. 100.00 % Spain Spain Circinus Energy S.L. 100.00 % Spain Spain Clinton Solar, LLC 100.00 % United States United States Colón LNG Marketing S. de R. L. 50.00 % E Panama Panama Columba Renovables S.L.U. 100.00 % Spain Spain Comanche Solar, LLC 100.00 % United States United States Core Energy Development, LLC 100.00 % United States United States Core Fund 1, LLC 100.00 % United States United States Core Solar Capital, LLC 100.00 % United States United States Core Solar Data, LLC 100.00 % United States United States Core Solar Development, LLC 100.00 % United States United States Core Solar DG, LLC 100.00 % United States United States Core Solar Holdings I, LLC 100.00 % United States United States Core Solar Land Holdings I, LLC 100.00 % United States United States Core Solar SPV X, LLC 100.00 % United States United States Core Solar SPV XV, LLC 100.00 % United States United States Core Solar SPV XXIV, LLC 100.00 % United States United States Core Solar, LLC 100.00 % United States United States Cote d'Ivoire GNL 34.00 % E Côte d'Ivoire Côte d'Ivoire Cottonwood Bayou Solar, LLC 100.00 % United States United States Cowtown Solar, LLC 100.00 % United States United States Crc Kern Front Tugboat, LLC 100.00 % United States United States CS Carrefour de l'Europe 100.00 % France France CS Les Comottes 100.00 % France France CS QUADRAO 2 100.00 % United States United States Cygnus Environment S.L. 100.00 % Spain Spain Danish Fields Solar, LLC 100.00 % United States United States Del Rio Funding LLC (a) 59.57 % E United States United States ECA LNG Holdings B.V. 16.60 % E Netherlands Netherlands Eclipse Solar SPA 100.00 % Chile Chile Edelweis Solar, S.L.U. 100.00 % Spain Spain Energie Developpement 50.00 % E France France Eole Boin 100.00 % France France Eole Champagne Conlinoise 66.00 % E France France Eole Dadoud 100.00 % France France Eole Fonds Caraibes 100.00 % France France Eole Grand Maison 100.00 % France France Eole La Montagne 87.60 % France France Eole La Perriere S.A.R.L. 100.00 % France France Eole Morne Carriere 100.00 % France France Eole Yate 100.00 % France France Eolmed 20.00 % E France France Evergreen Solar, LLC 100.00 % United States United States Falla Solar, S.L.U. 100.00 % Spain Spain Fast Jung KB 100.00 % Sweden Sweden Fleming Solar, LLC 100.00 % United States United States Fluxsol 100.00 % France France Fonroche Energies Renouvelables S.A.S. 100.00 % France France Frieman & Wolf Batterietechnick GmbH 100.00 % Germany Germany G.K. Succeed Tsu Haze 45.00 % E Japan Japan Galibier 50.00 % E France France Garonne-et-Canal Energies 100.00 % France France Gas Del Litoral SRLCV 25.00 % E Mexico Mexico GIP III Zephyr Holdings, LLC 50.00 % E United States United States Glaciere De Palisse 100.00 % France France Global LNG Armateur S.A.S. 100.00 % France France Global LNG Downstream S.A.S. 100.00 % France France Global LNG North America Corporation 100.00 % United States United States Global LNG S.A.S. 100.00 % France France Go Electric 100.00 % United States United States Golden Triangle Solar, LLC 100.00 % United States United States Goodfellow Solar III, LLC 100.00 % United States United States Gray Whale Offshore Wind Power No.1 Co., Ltd 42.50 % E South Korea South Korea Gray Whale Offshore Wind Power No.2 Co., Ltd 42.50 % E South Korea South Korea Gray Whale Offshore Wind Power No.3 Co. Ltd 42.50 % E South Korea South Korea Greenflex Actirent Group, S.L. 100.00 % Spain Spain Greenflex S.A.S. 100.00 % France France Grillete Solar, S.L.U. 100.00 % Spain Spain GT R4 Holding Limited 50.00 % E United Kingdom United Kingdom Gulf Total Tractebel Power Company PSJC 20.00 % E United Arab Emirates United Arab Emirates Hanwha Total Solar II, LLC 50.00 % E United States United States Hanwha Total Solar, LLC 50.00 % E United States United States Helio 100 Kw 100.00 % France France Helio 971 100.00 % France France Helio 974 Sol 1 100.00 % France France Helio 974 Toiture 2 100.00 % France France Helio Fonds Caraibes 100.00 % France France Helio L'R 100.00 % France France Helio Saint Benoit 100.00 % France France Helio Wabealo 100.00 % France France Helix Project V, LLC 100.00 % United States United States HETTY 100.00 % France France Hill Solar I, LLC 100.00 % United States United States Hill Solar I, LLC 100.00 % United States United States Hill Solar II, LLC 100.00 % United States United States HTS Holdings LLC 50.00 % E United States United States Hydro 974 100.00 % France France Hydro Tinee 50.00 % E France France Hydromons 100.00 % France France Ichthys LNG PTY Limited 26.00 % E Australia Australia Ise Total Nanao Power Plant G.K. 50.00 % E Japan Japan Jingdan New Energy investment (Shanghai) Co. Ltd 50.00 % E China China Jmcp 50.05 % France France Keith Solar I, LLC 100.00 % United States United States Komundo Offshore Wind Power Co., Ltd 42.50 % E South Korea South Korea LA Basin Solar I, LLC 100.00 % United States United States La Compagnie Electrique de Bretagne 50.00 % E France France La Metairie Neuve 25.00 % E France France La Seauve 40.00 % E France France Lanuza Solar, S.L.U. 100.00 % Spain Spain Lauderdale Solar, LLC 100.00 % United States United States Laurens Solar I, LLC 100.00 % United States United States Lemoore Stratford Land Holdings IV, LLC 100.00 % United States United States Les ailes de Taillard 50.00 % E France France Les vents de la Moivre 1 100.00 % France France Les Vents de la Moivre 2 100.00 % France France Les Vents de la Moivre 3 100.00 % France France Les Vents de la Moivre 4 100.00 % France France Les Vents de la Moivre 5 100.00 % France France Les Vents De Nivillac 100.00 % France France Leuret 50.00 % E France France Lorca 50.00 % E France France Luce Solar SPA 100.00 % Chile Chile Luminora Solar 5 65.00 % E Spain Spain Luminora Solar cuatro, S.L. 65.00 % E Spain Spain Luminora Solar Dos, S.L. 65.00 % E Spain Spain Luminora Solar Tres, S.L. 65.00 % E Spain Spain Maenggoldo Offshore Wind Power Co., Ltd 42.50 % E South Korea South Korea Margeriaz Energie 100.00 % France France Martianez Solar, S.L.U. 100.00 % Spain Spain Marysville Unified School District Solar, LLC 100.00 % United States United States Mauricio Solar, S.L.U. 100.00 % Spain Spain Maxeon Solar Technologies, Pte. Ltd. 26.66 % E Singapore Singapore Methanergy 100.00 % France France Missiles & Space Batteries Limited 50.00 % E United Kingdom United Kingdom Miyagi Osato Solar Park G.K. 45.00 % E Japan Japan Miyako Kuzakai Solarpark G.K. 50.00 % E Japan Japan Moz LNG1 Co-Financing Company 26.50 % Mozambique Mozambique Moz LNG1 Financing Company Ltd 26.50 % United Arab Emirates United Arab Emirates Moz LNG1 Holding Company Ltd 26.50 % United Arab Emirates United Arab Emirates Mozambique LNG Marine Terminal Company S.A. 26.50 % Mozambique Mozambique Mozambique MOF Company S.A. 26.50 % Mozambique Mozambique Mulilo Prieska PV (RF) Proprietary Limited 27.00 % E South Africa South Africa Mustang Creek Solar, LLC 100.00 % United States United States Myrtle Solar, LLC 100.00 % United States United States National Gas Shipping Company Limited 5.00 % E United Arab Emirates United Arab Emirates Nigeria LNG Limited 15.00 % E Nigeria Nigeria Nouvelle Centrale Eolienne de Lastours 50.00 % E France France Nuza Solar, S.L.U. 100.00 % Spain Spain Nyk Armateur S.A.S. 50.00 % E France France Offshore Wind Power Ltd 38.25 % E United Kingdom United Kingdom Oman LNG, LLC 5.54 % E Oman Oman Papua LNG Development Pte Ltd 100.00 % Singapore Papua New Guinea Parc Eolien de Cassini 50.00 % E France France Parc Eolien Des Monts Jumeaux 50.00 % E France France Parc Eolien Du Coupru 50.00 % E France France Parc Eolien du Vilpion 50.00 % E France France Parque Fotovoltaico Alicahue Solar SPA 100.00 % Chile Chile Parque Fotovoltaico Santa Adriana Solar SPA 100.00 % Chile Chile Piedra Solar, LLC 100.00 % United States United States Pilastra Solar, S.L.U. 100.00 % Spain Spain Planta solar OPDE Andalucía 3, S.L.U. 100.00 % Spain Spain Portalon Solar, S.L.U. 100.00 % Spain Spain Pos Production Ii 60.00 % France France Pos Production Iii 70.00 % France France Pos Production Iv 70.00 % France France Pos Production V 70.00 % France France Poste HTB du Mont de L'Arbre 100.00 % France France Postigo Solar, S.L.U. 100.00 % Spain Spain PT TATS Indonesia 100.00 % Indonesia Indonesia Qatar Liquefied Gas Company Limited 10.00 % E Qatar Qatar Qatar Liquefied Gas Company Limited (II) 16.70 % E Qatar Qatar Quadrica 51.00 % E France France Quilla Solar, S.L.U. 100.00 % Spain Spain Rabiza Solar, S.L.U. 100.00 % Spain Spain Randolph Solar I, LLC 100.00 % United States United States Recova Solar, S.L.U. 100.00 % Spain Spain Regata Solar, S.L.U. 100.00 % Spain Spain RLA Solar SPA 100.00 % Chile Chile Rolling Plains Solar, LLC 100.00 % United States United States Saft (Zhuhai FTZ) Batteries Company Limited 100.00 % China China Saft (Zhuhai) Energy Storage Co 100.00 % China China Saft AB 100.00 % Sweden Sweden Saft America Inc. 100.00 % United States United States Saft AS 100.00 % Norway Norway Saft Australia PTY Limited 100.00 % Australia Australia Saft Batterias SL 100.00 % Spain Spain Saft Batterie Italia S.R.L. 100.00 % Italy Italy Saft Batterien GmbH 100.00 % Germany Germany Saft Batteries Pte Limited 100.00 % Singapore Singapore Saft Batteries PTY Limited 100.00 % Australia Australia Saft Batterijen B.V. 100.00 % Netherlands Netherlands Saft Do Brasil Ltda 100.00 % Brazil |
Accounting policies (Policies)
Accounting policies (Policies) | 12 Months Ended |
Dec. 31, 2022 | |
General accounting principles | |
Basis of preparation of the consolidated financial statements | Basis of preparation of the consolidated financial statements The Consolidated Financial Statements of TotalEnergies SE and its subsidiaries (the Company) are presented in U.S. dollars and have been prepared on the basis of IFRS (International Financial Reporting Standards) as adopted by the European Union and IFRS as issued by the IASB (International Accounting Standard Board) as of December 31, 2022. The accounting principles applied for the consolidated financial statements at December 31, 2022, were the same as those that were used for the financial statements at December 31, 2021, except for amendments and interpretations of IFRS which were mandatory for the periods beginning after January 1, 2022 (and not early adopted by TotalEnergies). Their application did not have a significant impact on the financial statements as of December 31, 2022. As of January 1, 2020, TotalEnergies early adopted the amendments to IFRS 7 and IFRS 9 relating to the interest rate benchmark reform phase II. In particular, these amendments allow to maintain the hedge accounting qualification of interest rate derivatives. As part of this transition, TotalEnergies set up a working group in order to cover all aspects relating to the IBOR reform and its impacts. As of December 31, 2022, the transition to IBOR indices had no notable impact on the financial instruments managed by TotalEnergies’s treasury, the main USD LIBOR maturities, including the 3-month USD LIBOR, continuing to be published until June 2023. In addition, the EONIA rate was published for the last time on January 3, 2022 and replaced by the ESTR rate. This change had a non-material impact on the remuneration of cash collateral exchanged with clearing houses. Bonds and associated derivatives impacted by the IBOR reform are presented in Note 15.1 “Financial debt and derivative financial instruments”. In this context, the financing contracts for the Company’s projects continue to be amended in accordance with the recommendations of regulators and according to the required schedule. |
Major judgments and accounting estimates | Major judgments and accounting estimates The preparation of financial statements in accordance with IFRS for the closing as of December 31, 2022 requires the General Management to make estimates, assumptions and judgments that affect the information reported in the Consolidated Financial Statements and the Notes thereto. These estimates, assumptions and judgments are based on historical experience and other factors believed to be reasonable at the date of preparation of the financial statements. They are reviewed on an on-going basis by General Management and therefore could be revised as circumstances change or as a result of new information. Different estimates, assumptions and judgments could significantly affect the information reported, and actual results may differ from the amounts included in the Consolidated Financial Statements and the Notes thereto. The following summary provides further information about the key estimates, assumptions and judgments that are involved in preparing the Consolidated Financial Statements and the Notes thereto. It should be read in conjunction with the sections of the Notes mentioned in the summary. Ø Estimation of hydrocarbon reserves The estimation of oil and gas reserves is a key factor in the Successful Efforts method used by TotalEnergies to account for its oil and gas activities. TotalEnergies’ oil and gas reserves are estimated by TotalEnergies’ petroleum engineers in accordance with industry standards and SEC ( U.S. Securities and Exchange Commission) Proved oil and gas reserves are those quantities of oil and gas, which, by analysis of geosciences and engineering data, can be determined with reasonable certainty to be recoverable (from a given date forward, from known reservoirs, and under existing economic conditions, operating methods, and government regulations), prior to the time at which contracts providing the rights to operate expire, unless evidence indicates that renewal is reasonably certain, regardless of whether deterministic or probabilistic methods are used for the estimation. Proved oil and gas reserves are calculated using a 12-month average price determined as the unweighted arithmetic average of the first-day-of-the-month price for each month of the relevant year unless prices are defined by contractual arrangements, excluding escalations based upon future conditions. TotalEnergies reassesses its oil and gas reserves at least once a year on all its properties. The Successful Efforts method and the mineral interests and property, plant and equipment of exploration and production are presented in Note 7 “Intangible and tangible assets”. Ø Impairment of property, plant and equipment, intangible assets and goodwill As part of the determination of the recoverable value of assets for impairment (IAS 36), the estimates, assumptions and judgments mainly concern hydrocarbon prices scenarios, operating costs, production volumes and oil and gas proved and probable reserves, refining margins and product marketing conditions (mainly petroleum, petrochemical and chemical products as well as renewable industry products). The estimates and assumptions used by the executive management are determined in specialized internal departments in light of economic conditions and external expert analysis. The discount rate is reviewed annually. In 2020, in line with its new Climate Ambition announced on May 5, 2020, which aims at carbon neutrality, TotalEnergies had reviewed its oil assets that could be qualified as “stranded”, and therefore had decided to impair its oil sands assets in Canada. Impairment of assets and the method applied are described in Note 3 "Business segment information". Ø Climate change and energy transition Climate change and the energy transition were considered in preparing the Consolidated Financial Statements. They may have significant impacts on the value of TotalEnergies's assets and liabilities mentioned below, and on similar assets and liabilities that may be recognized in the future. TotalEnergies supports the goals of the 2015 Paris Agreement, which calls for reducing greenhouse gas emissions in the context of sustainable development and the fight against poverty, and which aims to keep the increase in average global temperatures well below 2°C compared to pre-industrial levels. TotalEnergies wants to rise to the dual challenge of meeting the energy needs of a growing world population while reducing global warming, and play an active role in the transformation that is underway in the energy industry, by transforming itself and becoming a broad energy company, capable of producing and selling the low-carbon molecules and electrons that the energy transition needs. TotalEnergies has embedded the changing energy markets into its strategy by investing in renewables and electricity, developing the production of biofuels, biogas and low-carbon hydrogen, favoring the use of natural gas, the transition fuel whose flexibility offers a lower carbon alternative to coal for electricity production and helps to mitigate the intermittency of solar and wind energies, targeting its investments in low-cost and low-emission oil, and developing nature-based carbon storage solutions as well as CO 2 TotalEnergies is committed to reducing its carbon footprint caused by the production, processing and supply of energy to its customers. Although the pace of the transition will depend on public policy, consumption patterns and resulting demand, TotalEnergies has set itself the mission to offer its customers energy products that are affordable and generate less CO 2 TotalEnergies’ ambition is to get to Net Zero by 2050, together with society. As in 2021, the Board of Directors submitted a Sustainability & Climate - Progress Report 2022 to a consultative vote of the Shareholders of TotalEnergies at the Combined Shareholders’ Meeting of May 25, 2022. This report gives an account of the progress made in the implementation of the Company’s ambition in terms of sustainable development and energy transition towards carbon neutrality, and with regards to its related objectives for 2030, and it also completes this ambition (resolution approved by 89% of votes). TotalEnergies evaluates the solidity of its portfolio, particularly new material capital expenditure investments, on the basis of relevant scenarios and sensitivity tests. Each material capex investment, including in the exploration, acquisition or development of oil and gas resources, as well as in other energies and technologies, is subject to an evaluation that takes into consideration the objectives of the Paris Agreement, each new investment thus enhancing the resilience of the Company’s portfolio. Economic criteria are analyzed as part of a price scenario for oil and gas that is compatible with the Paris agreement goals (Brent at 50$/b under the IEA APS scenario and Henry Hub at $3 per Mbtu). Even if CO2 pricing does not currently apply in all of the Company’s host countries, TotalEnergies includes as a base case in its investment criteria a minimum CO2 price of 100$/t (or the applicable price in a given country, if it is higher), and beyond 2028, the CO2 price is inflated by 2% per year. For investments in upstream oil & gas projects, TotalEnergies focuses on value creation and cash generation over volume, and the Company prioritizes projects with low technical costs (less than $20/b for operating costs plus investment costs) or low-breakeven points (less than $30/b, taxes included) and a profitability that exceeds an internally defined threshold. CCS and NBS projects are evaluated on the basis of the actual cost of one ton of CO2 (internal threshold in $/tCO2). As for projects in renewable energies, they are evaluated on their ability to generate a return on equity higher than 10%. All oil and gas projects must help to lower the average intensity of greenhouse gas emissions (Scope 1+2) in their respective category. Currently, that means: – For new oil and gas projects (greenfield and acquisitions), the intensity of Scope 1+2 greenhouse gas is compared depending on their nature, to the intensity of the average greenhouse gas to the Company’s Upstream production assets or that of various Downstream units (LNG plants, refineries). – For additional investments in existing assets (brownfield projects), the investment must lower the Scope 1+2 emissions intensity of the asset in question. – For projects involving other energies and technologies (biofuels, biogas, CCS, etc.), the greenhouse-gas emissions reductions are assessed based on their contribution to reducing the Company's emissions. Besides, as described in note 3. D "Impairment of assets", in order to ensure the resilience of its assets recognized on the balance sheet, the oil price trajectory retained by the Company for the computation of its impairments converges in the long term towards the price retained in 2050 by the IEA’s NZE scenario, i.e. $24.5 2022 The strategy is implemented in the long-term plan of the Company, which is forecasted for a 5-year period, updated every year, and approved by the Board of Directors. It reflects the economic environment, the ambition of the Company on carbon neutrality (Net Zero emissions) together with society, the related targets by 2030 and the current dynamics of energy transition, knowing that there is still significant uncertainty on the path to energy transition that the various countries will take. The financial statements of TotalEnergies are prepared in coherence with the main technical and economic assumptions of the long-term plan and the objectives stated above. They are also sensitive to various environmental considerations, including oil & gas prices and refining margins, as well as technical parameters, such as the estimation of hydrocarbons reserves. In particular, the selected assumptions and estimates have an impact on hydrocarbons reserves, the useful life of assets, the impairment of assets and provisions. Asset impairments The energy transition is likely to have an impact on future oil and gas prices and therefore on the recoverable amount of intangible assets and property, plant and equipment in the oil and gas industry. The principles applied in determining the recoverable amounts are as follows: - The future cash flows were determined using the assumptions included in the 2023 budget and in the long-term plan of the Company approved by the Executive Committee and the Board of Directors. These assumptions, in particular including operational costs, estimation of oil and gas reserves, future volumes produced and marketed, represent the best estimate from the Company Management of economic and technical conditions over the remaining life of the assets. - The Company, notably relying on data on global energy demand from the “World Energy Outlook” issued by the IEA since 2016, and on its own supply and demand assessments, determines oil & gas prices scenarios based on assumptions about the evolution of core indicators of the Upstream activity (demand for hydrocarbons in different markets, investment forecasts, decline in production fields, changes in oil & gas reserves and supply by area and by nature of oil & gas products), of the Downstream activity (changes in refining capacity and demand for petroleum products) and by integrating “climate” challenges. - These price scenarios, first prepared within the Strategy & Markets Division, are also reviewed with the Company segments which bring their own expertise. They also integrate studies issued by international agencies, banks and independent consultants. They are then approved by the Executive Committee and the Board of Directors. - The IEA 2022 World Energy Outlook anticipates three scenarios that are key references for the Company: the STEPS (Stated Policies Scenario) and APS (Announced Pledges Scenario) for the short/mid-term and the NZE (Net Zero Emissions by 2050) for the long-term. - The STEPS only includes climate actions already implemented to date around the world and those under development. The APS also takes into account climate ambitions declared to date in the world, including the NDCs (Nationally Determined Contributions) and carbon neutrality ambitions. It is considered by the IEA to be compatible with the Paris Agreement. The IEA's NZE is understood as the set of actions to be taken to be compatible with a 1.5°C scenario in 2050 (without overshooting). This normative scenario does not predict oil demand in the short and medium term, and therefore the price scenarios it proposes, particularly in the short and medium term, do not include a "realistic" evolution of demand. In fact, this scenario predicts that oil demand will fall by 20% between 2020 and 2030, whereas, according to the Company's projections and those of most energy companies and consultants, demand will stabilize between 2025 and 2030, before declining from 2030 onwards. - Beyond the 2020-2030 decade, the oil price trajectory retained by the Company converges in the long term, to the price retained in 2050 by the IEA's NZE scenario, i.e $24.5 2022 The oil price trajectories adopted by the Company are based on the following assumptions: - Oil demand has experienced sustained growth after the Covid crisis as the global economic recovery generated strong tensions on energy prices from mid-2021 onwards, exacerbated in 2022 by the war in Ukraine. Despite the risks of recession in Europe in particular, global liquid demand in 2023 is expected to be higher than in 2019 pre-crisis, notably thanks to the end of lockdown measures in China allowing the restart of industrial activity. It should continue to grow until 2030, in a context of sustained growth in global energy demand. Indeed, population growth and rising living standards, particularly in emerging countries, should sustain oil consumption, despite the gradual electrification of transport and efficiency gains in combustion engines, mainly in developed countries. As for oil supply, it is marked by historic production cuts decided (and implemented) by OPEP+ members and by the difficulties encountered by some non-OPEP+ producers. In the US, while production in 2023 is expected to be slightly higher than in 2019, doubts remain about the capacity for further growth in shale oil in subsequent years. The Company maintains its analysis that the weakness of investment oil upstream since 2015, accentuated by the health and economic crisis of 2020 and the natural decline of fields currently in production, leads to a global supply-demand balance that will remain tight until 2030. Thus the Brent price scenario used to determine the value in use of the CGUs assumes a stable price of $70 2022 - Beyond 2030, given technological developments, particularly in the transport sector, oil demand should have reached its peak and the selected price scenario decreases linearly to reach $50 2022 2022 The average Brent prices over the period 2023-2050 thus stands at $53.9 2022 For natural gas, the transition fuel, the price trajectory adopted by the Company is based on the following assumptions: - Natural gas demand in 2021 has exceeded its pre-crisis level with very strong tensions on prices in Europe and, by extension, in Asia through LNG prices, following the cuts in Russian pipe gas imports that began at the end of 2021 and continued in 2022 with the complete shutdown of the Nordstream. Global gas demand in 2022 is estimated to be almost at the level of 2021. The Company anticipates stable demand in 2023 with the recourse to American LNG to replace Russian gas in Europe, still in competition with Asia. The Company thus anticipates a return in 2023 to higher prices than before the crisis on the Asia, Europe and USA hubs, but not to the same levels as the highs reached in the third quarter of 2022. Thereafter, natural gas demand would be driven by the same fundamentals as oil (decrease in Europe but resistance in Asia-Pacific), plus its substitution for coal in power generation and by its role as a flexible and controllable source to mitigate the intermittent use and seasonality of renewable energies. The abundant global supply and the growth of liquefied natural gas would, however, limit the potential for higher gas prices. Beyond 2040, with the development of renewables including storage and hydrogen, gas demand is expected to stabilize. In this context, the gas price level used to determine the value in use of the CGUs concerned is as follows: - On the NBP quotation (Europe): $20 2022 /Mbtu in 2023, $17 2022 /Mbtu in 2024, $14 2022 /Mbtu in 2025, $11 2022 /Mbtu in 2026, then $8 2022 /Mbtu between 2027 and 2040. - On the Henry Hub quotation (United States): $3 2022 /Mbtu between 2023 and 2040. - On the DES Japan (Asia) quotation: $21 2022 /Mbtu in 2023, $18 2022 /Mbtu in 2024, $15 2022 /Mbtu in 2025, $12 2022 /Mbtu in 2026, then $9 2022 /Mbtu between 2027 and 2040. From 2040 onwards, the price trajectory converges towards the price retained in 2050 by the NZE scenario, i.e. $3.9 2022 2022 2022 The future operational costs were determined by taking into account the existing technologies, the fluctuation of prices for petroleum services in line with market developments and the internal cost reduction programs effectively implemented. The determination of value in use also takes into account on all assets a minimum CO 2 2 The future cash flows are estimated over a period consistent with the life of the assets of the CGUs. They are prepared post-tax and take into account specific risks related to the CGUs' assets. They are discounted using an 8% post-tax discount rate, this rate being the weighted-average cost of TotalEnergies capital estimated from historical market data. This rate was 7% in 2021 and 2020. The value in use calculated by discounting the above post-tax cash flows using an 8% post-tax discount rate is not materially different from the value in use calculated by discounting pre-tax cash flows using a pre-tax discount rate determined by an iterative computation from the post-tax value in use. These pre-tax discount rates generally range from 7% to 14%. Asset impairments are subject to sensitivity testing. In particular, upstream assets are tested as follows: ● Decreases of -10% and -20% in the hydrocarbon’s prices, over the duration of the price scenario. ● Consideration of a CO2 cost of $ 200 /t, inflated by 2% per year from 2028 onwards for all assets. ● Increase or decrease of 1% in the discount rate of future cash flows. Finally, in June 2020, TotalEnergies also reviewed its upstream assets that can be qualified as “stranded”, meaning with reserves beyond 20 years and high production costs, whose overall reserves may therefore not be produced by 2050. The only projects concerned are the Fort Hills and Surmont oil sands projects in Canada. TotalEnergies has decided to take only proved reserves into account for impairment testing on these two assets - contrary to general practice which considers proved and probable reserves - and to approve no new projects for increasing the capacity of these Canadian oil sand assets. The Company’s strategy of focusing new oil investments on low carbon intensity projects also led it to exit from extra heavy crude oil assets in Venezuela’s Orinoco Belt in 2021. The characteristics of TotalEnergies' portfolio mitigate the risk of having stranded assets in the future if a structural decline in demand for hydrocarbons occurs due to stricter global environmental regulations and constraints and a resulting change in consumer preferences. The Company will continue to review price assumptions as the energy transition progresses and this may result in additional impairment charges in the future. The effect of asset impairments on TotalEnergies' financial statements and the associated sensitivity calculations are detailed in note 3.D Asset impairment Exploration assets The energy transition could affect the future development or economic viability of certain exploration assets. TotalEnergies applies IFRS 6 “Exploration for and Evaluation of Mineral Resources”. Oil and gas exploration and production properties and assets are accounted for in accordance with the Successful Efforts method. Exploratory wells are capitalized and tested for impairment on an individual basis as follows: - Costs of exploratory wells which result in proved reserves are capitalized and then depreciated using the unit-of-production method based on proved developed reserves; - Costs of exploratory wells are capitalized as work in progress until proved reserves have been found, if both of the following conditions are met: ◾ The well has found a sufficient quantity of reserves to justify, if appropriate, its completion as a producing well, assuming that the required capital expenditures are made; ◾ TotalEnergies is making sufficient progress assessing the reserves and the economic and operating viability of the project. This progress is evaluated on the basis of indicators such as whether additional exploratory works are under way or firmly planned (wells, seismic or significant studies), whether costs are being incurred for development studies and whether TotalEnergies is waiting for governmental or other third-party authorization on a proposed project, or availability of capacity on an existing transport or processing facility. Costs of exploratory wells not meeting these conditions are charged to exploration costs. These assets will continue to be carefully reviewed as the energy transition progresses, in line with the resulting capital expenditure allocation policy. The effect of exploration activities on the financial statements of TotalEnergies is detailed in note 7.2 Property, plant and equipment. Intangible and tangible assets - depreciation and useful lives The energy transition may curtail the useful life of oil and gas assets, thereby increasing the annual depreciation charges related to these assets. The following accounting principles are applied to the hydrocarbon production assets of exploration and production activities: Unproved mineral interests are tested for impairment based on the results of the exploratory activity or as part of the impairment tests of the cash-generating units to which they are allocated. Unproved mineral interests are transferred to proved mineral interests at their net book value as soon as proved reserves are booked. Proved mineral interests are depreciated using the unit-of-production method based on proved reserves. The corresponding expense is recorded as depreciation of tangible assets and mineral interests. Development costs of oil and gas production facilities are capitalized. These costs include borrowing costs incurred during the period of construction and the present value of estimated future costs of asset retirement obligations. The depletion rate of development wells and of production assets is equal to the ratio of oil and gas production for the period to proved developed reserves (unit-of-production method). In the event that, due to the price effect on reserves evaluation, the unit-of-production method does not reflect properly the useful life of the asset, an alternative depreciation method is applied based on the reserves evaluated with the price of the previous year. This was the case for fiscal year 2020 where the method of unit-of-production depreciation was applied to all assets over 2020 based on proved reserves measured with the price used in 2019. As of December 31, 2021, and December 31, 2022, this alternative method is not applied as, given the price used to assess the reserves, the unit-of-production method correctly reflects the useful life of the assets. With respect to phased development projects or projects subject to progressive well production start-up, the fixed assets’ depreciable amount, excluding production or service wells, is adjusted to exclude the portion of development costs attributable to the undeveloped reserves of these projects. With respect to production sharing contracts, the unit-of-production method is based on the portion of production and reserves assigned to TotalEnergies taking into account estimates based on the contractual clauses regarding the reimbursement of exploration, development and production costs (cost oil/gas) as well as the sharing of hydrocarbon rights after deduction of cost oil (profit oil/gas). Hydrocarbon transportation and processing assets are depreciated using the unit-of-production method based on throughput or by using the straight-line method whichever best reflects the economic life of the asset. Given the characteristics of the Company’s portfolio of oil & gas assets, its current value on the balance sheet will be almost entirely depreciated by 2040. Consequently, TotalEnergies does not anticipate significant changes in the useful life of its existing oil and gas assets that would represent an element of significant judgment impacting its consolidated accounts in the future. The impact of the depreciation of oil and gas assets on the financial statements of TotalEnergies is detailed in notes 7.1 Intangible assets and 7.2 Property, plant and equipment. Asset retirement obligations The energy transition may bring forward asset retirement obligations of certain oil and gas assets, thereby increasing the present value of the associated provisions. Asset retirement obligations, which result from a legal or constructive obligation, are recognized based on a reasonable estimate in the period in which the obligation arises. The associated asset retirement costs are capitalized as part of the carrying amount of the underlying asset and depreciated over the useful life of this asset. An entity is required to measure changes in the liability for an asset retirement obligation due to the passage of time (accretion) by applying a discount rate to the amount of the liability. Given the long-term nature of expenditures related to our asset retirement obligations, the rate is determined by reference to the rates of high quality AA-rated corporate bonds on the USD area for a long-term horizon. The increase of the provision due to the passage of time is recognized as “Other financial expense”. The discount rate used for the valuation of asset retirement obligation is 4% in 2022 and 3% in 2021 and in 2020 (the expenses are estimated at current currency values with an inflation rate of 2% in 2022 and 1.5% in 2021 and in 2020). In upstream activities, in application of its internal procedures, TotalEnergies regularly reviews, on an asset-by-asset basis, the estimate of its future asset retirement costs, as well as the date at which work will be performed. The assets and liabilities recognized in respect of retirement obligations under these rules as described in note 12.1 Provisions and other non-current liabilities are adjusted accordingly. The Company will continue to review its estimates of both costs and the maturity of commitments on a regular basis and will take into account any significant impact that may result from changes in these parameters in the future. The effect of the asset retirement obligations on the financial statements of TotalEnergies and the associated sensitivity calculations are detailed in note 12.1 Provisions and other non-current liabilities. A maturity schedule of these obligations is presented in note 13.1 Off-balance sheet commitments and contractual obligations. Ø Employee benefits The benefit obligations and plan assets can be subject to significant volatility due in part to changes in market values and actuarial assumptions. These assumptions vary between different pension plans and thus take into account local conditions. They are determined following a formal process involving expertise and TotalEnergies internal judgments, in financial and actuarial terms, and also in consultation with actuaries and independent experts. The assumptions for each plan are reviewed annually and adjusted if necessary to reflect changes from the experience and actuarial advice. The discount rate is reviewed quarterly. Payroll, staff and employee benefits obligations and the method applied are described in Note 10 “Payroll, staff and employee benefits obligations”. Ø Asset retirement obligations Asset retirement obligations, which result from a legal or constructive obligation, are recognized based on a reasonable estimate in the period in which the obligation arises. This estimate is based on information available in terms of costs and work program. It is regularly reviewed to take into account the changes in laws and regulations, the estimates of reserves and production, the analysis of site conditions and technologies. The discount rate is reviewed annually. Asset retirement obligations and the method used are described in Note 12 “Provisions and other non-current liabilities”. Ø Income Taxes A tax liability is recognized when in application of a tax regulation, a future payment is considered probable and can be reasonably estimated. The exercise of judgment is required to assess the impact of new events on the amount of the liability. Deferred tax assets are recognized in the accounts to the extent that their recovery is considered probable. The amount of these assets is determined after taking into account deferred tax liabilities with comparable maturity, arising from the same entities and tax regimes. It takes into account existing taxable profits and future taxable profits which estimation is inherently uncertain and subject to change over time. The exercise of judgment is required to assess the impact of new events on the value of these assets and including changes in estimates of future taxable profits and the deadlines for their use. In addition, these tax positions may depend on interpretations of tax laws and regulations in the countries where TotalEnergies operates. These interpretations may have uncertain nature. Depending on the circumstances, they are final only after negotiations or resolution of disputes with authorities that can last several years. Incomes taxes and the accounting methods are described in Note 11 “Income taxes”. Ø Russian-Ukrainian conflict The consolidated financial statements as of December 31, 2022 are impacted by the Russian-Ukrainian conflict. Since February 2022, Russia’s invasion of Ukraine led European and American authorities to adopt several sets of sanctions measures targeting Russian and Belarusian persons and entities, as well as the financial sector. On March 2022, TotalEnergies announced that, given the uncertainty created by the technological and financial sanctions on the ability to carry out the Arctic LNG 2 project currently under construction and their probable tightening with the worsening conflict, TotalEnergies SE had decided to no longer book proved reserves for the Arctic LNG 2 project. Early April 2022, new sanctions were effectively adopted by the European authorities, notably prohibiting export from European Union countries of goods and technology for use in the liquefaction of natural gas benefiting a Russian company. It appeared that these new prohibitions constitute additional risks on the execution of the Arctic LNG 2 project. The potential impact of international sanctions on the value of TotalEnergies' stake in Novatek led the Company to identify indications of impairment. The impairment tests performed in order to determine the value in use based on future cash flows, taking into account assumptions reflecting the impact of the sanctions on future cash flows, led TotalEnergies to record impairment charges in the second quarter and again in the third quarter of 2022. In addition, on July 18, 2022, TotalEnergies agreed to sell to Novatek TotalEnergies' 49% interest in Terneftegaz, which operates the Termokarstovoye gas and condensates field in Russia. This transfer was finalized on September 15, 2022. Finally on December 9, 2022, the Board of Directors of TotalEnergies decided to withdraw the representatives of the Company from the Board of Directors of PAO Novatek with immediate effect. These events had the following impacts on the 2022 consolidated financial statements. - TotalEnergies recorded, in its accounts as of March 31, 2022, an impairment of $(4,095) million, concerning notably Arctic LNG 2. - The Company recorded, in its accounts of the second and third quarter, of 2022, impairments of $(3,513) million and $(3,056) million respectively mainly concerning Novatek. - At the end of the fourth quarter of 2022, the criteria for significant influence no longer being met under IAS 28 “Investments in associates and joint ventures”, TotalEnergies’ 19.4% stake in Novatek |
Judgments in case of transactions not addressed by any accounting standard or interpretation | Judgments in case of transactions not addressed by any accounting standard or interpretation Furthermore, when the accounting treatment of a specific transaction is not addressed by any accounting standard or interpretation, the management applies its judgment to define and apply accounting policies that provide information consistent with the general IFRS concepts: faithful representation, relevance and materiality. |
Principles of consolidation | A) Principles of consolidation Entities that are directly controlled by the parent company or indirectly controlled by other consolidated entities are fully consolidated. Investments in joint ventures are consolidated under the equity method. TotalEnergies accounts for joint operations by recognizing its share of assets, liabilities, income and expenses. Investments in associates, in which TotalEnergies has significant influence, are accounted for by the equity method. Significant influence is presumed when TotalEnergies holds, directly or indirectly (e.g. through subsidiaries), 20% or more of the voting rights. Companies in which ownership interest is less than 20%, but over which TotalEnergies is deemed to exercise significant influence, are also accounted for by the equity method. All internal balances, transactions and income are eliminated. |
Business combinations | B) Business combinations Business combinations are accounted for using the acquisition method. This method requires the recognition of the acquired identifiable assets and assumed liabilities of the companies acquired by TotalEnergies at their fair value. The purchase accounting of the acquisition is finalized up to a maximum of one year from the acquisition date. The acquirer shall recognize goodwill at the acquisition date, being the excess of: ▪ The consideration transferred, the amount of non-controlling interests and, in business combinations achieved in stages, the fair value at the acquisition date of the investment previously held in the acquired company; ▪ Over the fair value at the acquisition date of acquired identifiable assets and assumed liabilities. If the consideration transferred is lower than the fair value of acquired identifiable assets and assumed liabilities, an additional analysis is performed on the identification and valuation of the identifiable elements of the assets and liabilities. After having completed such additional analysis, any negative goodwill is recorded as income. Non-controlling interests are measured either at their proportionate share in the net assets of the acquired company or at fair value. In transactions with non-controlling interests, the difference between the price paid (received) and the book value of non-controlling interests acquired (sold) is recognized directly in equity. Accounting principles In accordance with IFRS 3 “Business combinations”, TotalEnergies is assessing the fair value of identifiable acquired assets, liabilities and contingent liabilities on the basis of available information. This assessment will be finalised within 12 months following the acquisition date. Ø Exploration & Production |
Foreign currency translation | C) Foreign currency translation The presentation currency of TotalEnergies’ Consolidated Financial Statements is the US dollar. However, the functional currency of the parent company is the euro. The resulting currency translation adjustments are presented on the line "currency translation adjustment generated by the parent company" of the consolidated statement of comprehensive income, within "items not potentially reclassifiable to profit and loss". In the balance sheet, they are recorded in "currency translation adjustment". The financial statements of subsidiaries are prepared in the currency that most clearly reflects their business environment. This is referred to as their functional currency. Since July 1, 2018, Argentina is considered to be hyperinflationary. IAS 29 "Financial Reporting in Hyperinflationary Economies" is applicable to entities whose functional currency is the Argentine peso. The functional currency of the Argentine Exploration & Production subsidiary is the US dollar, therefore IAS 29 has no incidence on TotalEnergies accounts. Net asset of the other business segments is not significant. (i) Monetary transactions Transactions denominated in currencies other than the functional currency of the entity are translated at the exchange rate on the transaction date. At each balance sheet date, monetary assets and liabilities are translated at the closing rate and the resulting exchange differences are recognized in the statement of income. (ii) Translation of financial statements Assets and liabilities of entities denominated in currencies other than dollar are translated into dollar on the basis of the exchange rates at the end of the period. The income and cash flow statements are translated using the average exchange rates for the period. Foreign exchange differences resulting from such translations are either recorded in shareholders’ equity under “Currency translation adjustments” (for TotalEnergies share) or under “Non-controlling interests” (for the share of non-controlling interests) as deemed appropriate . |
Significant accounting principles applicable in the future | 1.2 Significant accounting principles applicable in the future The expected impact of the standards or interpretations published respectively by the International Accounting Standards Board (IASB) and the International Financial Reporting Standards Interpretations Committee (IFRS IC) which were not yet in effect at December 31, 2022, is not material. |
Divestment projects | 2.3 Divestment projects Accounting principles Pursuant to IFRS 5 "Non-current assets held for sale and discontinued operations”, assets and liabilities of affiliates that are held for sale are presented separately on the face of the balance sheet. Depreciation of assets ceases from the date of classification in “Non-current assets held for sale”. |
Asset impairment | Accounting principles The recoverable amounts of intangible assets and property, plant and equipment are tested for impairment as soon as any indication of impairment exists. This test is performed at least annually for goodwill. The recoverable amount is the higher of the fair value (less costs to sell) or the value in use. Assets are grouped into cash-generating units (or CGUs) and tested. A CGU is a homogeneous set of assets that generates cash inflows that are largely independent of the cash inflows from other groups of assets. The value in use of a CGU is determined by reference to the discounted expected future cash flows of these assets, based upon Management’s expectation of future economic and operating conditions. When this value is less than the carrying amount of the CGU, an impairment loss is recorded. This loss is allocated first to goodwill with a corresponding amount in "Other expenses". Any further losses are then allocated to property, plant and mineral interests with a corresponding amount in "Depreciation, depletion and impairment of tangible assets and mineral interests" and to other intangible assets with a corresponding amount in "Other expenses". Impairment losses recognized in prior periods can be reversed up to the original carrying amount, had the impairment loss not been recognized. Impairment losses recognized on goodwill cannot be reversed. Investments in associates or joint ventures are tested for impairment whenever indication of impairment exists. If any objective evidence of impairment exists, the carrying amount of the investment is compared with its recoverable amount, being the higher of its fair value less costs to sell and value in use. If the carrying amount exceeds the recoverable amount, an impairment loss is recorded in "Net income (loss) from equity affiliates". |
Sales of goods and services, including excise taxes | Accounting principles IFRS 15 requires identification of the performance obligations for the transfer of goods and services in each contract with customers. Revenue is recognized upon satisfaction of the performance obligations for the amounts that reflect the consideration to which TotalEnergies expects to be entitled in exchange for those goods and services. Sales of goods Revenues from sales are recognized when the control has been transferred to the buyer and the amount can be reasonably measured. Revenues from sales of crude oil and natural gas are recorded upon transfer of title, according to the terms of the sales contracts. Revenues from the production of crude oil and natural gas properties, in which TotalEnergies has an interest with other producers, are recognized based on actual entitlement volumes sold over the period. Any difference between entitlement volumes and volumes sold, based on TotalEnergies net working interest, are recognized in the “Under-lifting” and “Over-lifting” accounts in the balance sheet and in operating expenses in the profit and loss. Oil and gas delivered quantities that represent production royalties and taxes, when paid in cash, are included in revenues, except for the United States and Canada. Certain transactions within the trading activities (contracts involving quantities that are purchased from third parties then resold to third parties) are shown at their net value in purchases, net of inventory variation. These transactions relate in particular to crude oil, petroleum products, gas, power and LNG. Exchanges of crude oil and petroleum products realized within trading activities are shown at their net value in both the statement of income and the balance sheet. Sales of services Revenues from services are recognized when the services have been rendered. Revenues from gas transport are recognized when services are rendered. These revenues are based on the quantities transported and measured according to procedures defined in each service contract. Shipping revenues and expenses from time-charter activities are recognized on a pro rata basis over a period that commences upon the unloading of the previous voyage and terminates upon the unloading of the current voyage. Shipping revenue recognition starts only when a charter has been agreed to by both TotalEnergies and the customer. Income related to the distribution of electricity and gas is not recognized in revenues in certain countries because TotalEnergies acts as an agent in this transaction. In these countries, TotalEnergies is not responsible for the delivery and does not set the price of the service, because it can only pass on to the customer the amounts invoiced to it by the distributors. Excise taxes Excise taxes are rights or taxes which amount is calculated based on the quantity of oil and gas products put on the market. Excise taxes are determined by the states. They are paid directly to the customs and tax authorities and then invoiced to final customers by being included in the sales price. The analysis of the criteria set by IFRS 15 led TotalEnergies to determine that it was acting as principal in these transactions. Therefore, sales are presented on a gross basis, including excise taxes collected by TotalEnergies within the course of its oil distribution operations. In addition, the subtotal “Revenue from Sales” is presented as an additional line item in the P&L and is obtained by deducting Excise tax expenses from Sales. |
Operating expenses | 5.2 Operating expenses and research and development Accounting principles TotalEnergies applies IFRS 6 “Exploration for and Evaluation of Mineral Resources”. Oil and gas exploration and production properties and assets are accounted for in accordance with the Successful Efforts method. Geological and geophysical costs, including seismic surveys for exploration purposes are expensed as incurred in exploration costs. Costs of dry wells and wells that have not found proved reserves are charged to expense in exploration costs. |
Research and development costs | Accounting principles Research costs are charged to expense as incurred. Development expenses are capitalized when the criteria of IAS 38 are met. |
Inventories | Accounting principles Inventories are measured in the Consolidated Financial Statements at the lower of historical cost or market value. Costs for petroleum and petrochemical products are determined according to the FIFO (First-In, First-Out) method or weighted-average cost method and other inventories are measured using the weighted-average cost method. In addition stocks held for trading are measured at fair value less cost to sell. Refining & Chemicals Petroleum product inventories are mainly comprised of crude oil and refined products. Refined products principally consist of gasoline, distillate and fuel produced by TotalEnergies' refineries. The turnover of petroleum products does not exceed two months on average. Crude oil costs include raw material and receiving costs. Refining costs principally include crude oil costs, production costs (energy, labor, depreciation of producing assets) and an allocation of production overheads (taxes, maintenance, insurance, etc.). Costs of chemical product inventories consist of raw material costs, direct labor costs and an allocation of production overheads. Start-up costs, general administrative costs and financing costs are excluded from the costs of refined and chemicals products. Marketing & Services The costs of products refined by TotalEnergies' entities include mainly raw materials costs, production costs (energy, labor, depreciation of producing assets), primary costs of transport and an allocation of production overheads (taxes, maintenance, insurance, etc.). General administrative costs and financing costs are excluded from the cost price of refined products. Product inventories purchased from entities external to TotalEnergies are valued at their purchase cost plus primary costs of transport. Carbon dioxide emission rights generated as part of the EU Emission Trading scheme (EU ETS) In the absence of a current IFRS standard or interpretation on accounting for emission rights of carbon dioxide generated as part of the EU Emission Trading scheme (EU ETS), the following principles are applied: - Emission rights are managed as a cost of production and as such are recognized in inventories: ● Emission rights allocated for free are booked in inventories with a nil carrying amount; ● Purchased emission rights are booked at acquisition cost; ● Sales or annual surrender of emission rights result in decreases in inventories valued at weighted-average cost; ● If the carrying amount of inventories at closing date is higher than the market value, an impairment loss is recorded. - If emission rights to be surrendered at the end of the compliance period are higher than emission rights (allocated and purchased), the shortage is accounted for as a liability at market value; - Forward transactions are recognized at their fair market value in the balance sheet. Changes in the fair value of such forward transactions are recognized in the statement of income. Energy savings certificates In the absence of current IFRS standards or interpretations on accounting for energy savings certificates (ESC), the following principles are applied: - If the obligations linked to the sales of energy are greater than the number of ESC’s held then a liability is recorded. These liabilities are valued based on the price of the last transactions; - In the event that the number of ESC’s held exceeds the obligation at the balance sheet date this is accounted for as inventory. Otherwise a valuation allowance is recorded ; - ESC inventories are valued at weighted-average cost (acquisition cost for those ESC’s acquired or cost incurred for those ESC’s generated internally). If the carrying value of the inventory of certificates at the balance sheet date is higher than the market value, an impairment loss is recorded. |
Cash flow from operating activities | 5.5 Cash flow from operating activities Accounting principles The Consolidated Statement of Cash Flows prepared in currencies |
Intangible assets | Accounting principles Goodwill Guidance for measuring goodwill is presented in Note 1.1 paragraph B to the Consolidated Financial Statements. Goodwill is not amortized but is tested for impairment at least annually and as soon as there is any indication of impairment. Mineral interests Unproved mineral interests are tested for impairment based on the results of the exploratory activity or as part of the impairment tests of the cash-generating units to which they are allocated. Unproved mineral interests are transferred to proved mineral interests at their net book value as soon as proved reserves are booked. Proved mineral interests are depreciated using the unit-of-production method based on proved reserves. The corresponding expense is recorded as depreciation of tangible assets and mineral interests. Other intangible assets Other intangible assets include patents, and trademarks. Intangible assets are carried at cost, after deducting any accumulated amortization and accumulated impairment losses. Intangible assets (excluding mineral interests) that have a finite useful life are amortized on a straight-line basis over three |
Property, plant and equipment | Accounting principles Exploration costs TotalEnergies applies IFRS 6 “Exploration for and Evaluation of Mineral Resources”. Oil and gas exploration and production properties and assets are accounted for in accordance with the Successful Efforts method. Exploratory wells are capitalized and tested for impairment on an individual basis as follows: - Costs of exploratory wells which result in proved reserves are capitalized and then depreciated using the unit-of-production method based on proved developed reserves; - Costs of exploratory wells are capitalized as work in progress until proved reserves have been found, if both of the following conditions are met: ● ● Costs of exploratory wells not meeting these conditions are charged to exploration costs. Oil and Gas production assets of exploration and production activities Development costs of oil and gas production facilities are capitalized. These costs include borrowing costs incurred during the period of construction and the present value of estimated future costs of asset retirement obligations. The depletion rate of development wells and of production assets is equal to the ratio of oil and gas production for the period to proved developed reserves (unit-of-production method). In the event that, due to the price effect on reserves evaluation, the unit-of-production method does not reflect properly the useful life of the asset, an alternative depreciation method is applied based on the reserves evaluated with the price of the previous year. This was the case for fiscal year 2020 where the method of unit-of-production depreciation was applied to all assets over 2020 based on proved reserves measured with the price used in 2019. As of December 31, 2021, and December 31, 2022, this alternative method is not applied as, given the price used to assess the reserves, the unit-of-production method correctly reflects the useful life of the assets. With respect to phased development projects or projects subject to progressive well production start-up, the fixed assets’ depreciable amount, excluding production or service wells, is adjusted to exclude the portion of development costs attributable to the undeveloped reserves of these projects. With respect to production sharing contracts, the unit-of-production method is based on the portion of production and reserves assigned to TotalEnergies taking into account estimates based on the contractual clauses regarding the reimbursement of exploration, development and production costs (cost oil/gas) as well as the sharing of hydrocarbon rights after deduction of cost oil (profit oil/gas). Hydrocarbon transportation and processing assets are depreciated using the unit-of-production method based on throughput or by using the straight-line method whichever best reflects the economic life of the asset. Other property, plant and equipment Other property, plant and equipment are carried at cost, after deducting any accumulated depreciation and accumulated impairment losses. This cost includes borrowing costs directly attributable to the acquisition or production of a qualifying asset incurred until assets are placed in service. Borrowing costs are capitalized as follows: ● ● Routine maintenance and repairs are charged to expense as incurred. The costs of major turnarounds of refineries and large petrochemical units are capitalized as incurred and depreciated over the period of time between two consecutive major turnarounds. Other property, plant and equipment are depreciated using the straight-line method over their useful lives, which are as follows: ● Furniture, office equipment, machinery and tools 3 - 12 years ● Transportation equipment 5 - 20 years ● Storage tanks and related equipment 10 - 15 years ● Specialized complex installations and pipelines 10 - 30 years ● Buildings 10 - 50 years |
Equity affiliates: investments and loans | 8.1 EQUITY AFFILIATES: INVESTMENTS AND LOANS Accounting principles Under the equity method, the investment in the associate or joint venture is initially recognized at acquisition cost and subsequently adjusted to recognize TotalEnergies’ share of the net income and other comprehensive income of the associate or joint venture. Unrealized gains on transactions between TotalEnergies and its equity-accounted entities are eliminated to the extent of TotalEnergies’ interest in the equity accounted entity. In equity affiliates, goodwill is included in investment book value. In cases where TotalEnergies holds less than 20% of the voting rights in another entity, the determination of whether TotalEnergies exercises significant influence is also based on other facts and circumstances: representation on the Board of Directors or an equivalent governing body of the entity, participation in policy-making processes, including participation in decisions relating to dividends or other distributions, significant transactions between the investor and the entity, exchange of management personnel, or provision of essential technical information. |
Other investments | Accounting principles Other investments are equity instruments and are measured according to IFRS 9 at fair value through profit and loss (default option). On initial recognition, the standard allows to make an election to record the changes of fair value in other comprehensive income. For these equity instruments, only dividends can be recognized in profit or loss. TotalEnergies recognizes changes in fair value in equity or in profit or loss according to the option chosen on an instrument by instrument basis. For quoted shares on active markets, this fair value is based on the market price. |
Treasury shares | Accounting principles Treasury shares held by TotalEnergies SE, or by its subsidiaries are deducted from consolidated shareholders’ equity. Gains or losses on sales of treasury shares are excluded from the determination of net income and are recognized in shareholders’ equity. |
Earnings per share | Accounting principles Earnings per share is calculated by dividing net income (TotalEnergies share) by the weighted-average number of common shares outstanding during the period, excluding TotalEnergies shares held by TotalEnergies SE (Treasury shares) which are deducted from consolidated shareholders’ equity. Diluted earnings per share is calculated by dividing net income (TotalEnergies share) by the fully-diluted weighted-average number of common shares outstanding during the period. Treasury shares held by the parent company, TotalEnergies SE are deducted from consolidated shareholders’ equity. This calculation also takes into account the dilutive effect of share grants and capital increases with a subscription period closing after the end of the fiscal year. The weighted-average number of fully-diluted shares is calculated in accordance with the treasury stock method provided for by IAS 33. The proceeds, which would be recovered in the event of an exercise of rights related to dilutive instruments, are presumed to be a share buyback at the average market price over the period. The number of shares thereby obtained leads to a reduction in the total number of shares that would result from the exercise of rights. In compliance with IAS 33, earnings per share and diluted earnings per share are based on the net income after deduction of the remuneration due to the holders of deeply subordinated notes. |
Share-based payments | 9.2 Share-based payments Accounting principles TotalEnergies SE may grant employees share subscription or purchase options plans, performance shares plans and offer its employees the opportunity to subscribe to reserved capital increases. These employee benefits are recognized as expenses with a corresponding credit to shareholders’ equity. The expense is equal to the fair value of the instruments granted. The expense is recognized on a straight-line basis over the period in which the advantages are acquired. The fair value of the options is calculated using the Black-Scholes model at the grant date. For performance shares plans, the fair value is calculated using the market price at the grant date after deducting the expected distribution rate during the vesting period. The number of allocated equity instruments can be revised during the vesting period in cases of non-compliance with performance conditions, with the exception of those related to the market, or according to the rate of turnover of the beneficiaries. The cost of employee-reserved capital increases is immediately expensed. The cost of the capital increase reserved for employees consists of the cost related to the discount on the shares subscribed using the classic and/or the leveraged schemes, the cost of the free shares and the opportunity gain for the shares subscribed using the leveraged scheme, as applicable. This opportunity gain corresponds to the benefit of subscribing to the leveraged offer, rather than reproducing the same economic profile through the purchase of options in the market for individual investors. |
Employee benefits obligations | Accounting principles In accordance with the laws and practices of each country, TotalEnergies participates in employee benefit plans offering retirement, death and disability, healthcare and special termination benefits. These plans provide benefits based on various factors such as length of service, salaries, and contributions made to the governmental bodies responsible for the payment of benefits. These plans can be either defined contribution or defined benefit pension plans and may be entirely or partially funded with investments made in various non-consolidated instruments such as mutual funds, insurance contracts, and other instruments. For defined contribution plans, expenses correspond to the contributions paid. Defined benefit obligations are determined according to the Projected Unit Method. Actuarial gains and losses may arise from differences between actuarial valuation and projected commitments (depending on new calculations or assumptions) and between projected and actual return of plan assets. Such gains and losses are recognized in the statement of comprehensive income, with no possibility to subsequently recycle them to the income statement. The past service cost is recorded immediately in the statement of income, whether vested or unvested. The net periodic pension cost is recognized under “Other operating expenses”. |
Income taxes | Accounting principles Income taxes disclosed in the statement of income include current tax expenses (or income) and deferred tax expenses (or income). Current tax expenses (or income) are the estimated amount of the tax due for the taxable income of the period. Deferred income taxes are recorded based on the temporary differences between the carrying amounts of assets and liabilities recorded in the balance sheet and their tax bases, and on carry-forwards of unused tax losses and other tax credits. Deferred tax assets and liabilities are measured using the tax rates that have been enacted or substantially enacted at the balance sheet date. The tax rates used depend on the timing of reversals of temporary differences, tax losses and other tax credits. The effect of a change in tax rate is recognized either in the Consolidated Statement of Income or in shareholders’ equity depending on the item it relates to. Deferred tax resulting from temporary differences between the carrying amounts of equity-method investments and their tax bases are recognized. The deferred tax calculation is based on the expected future tax effect (dividend distribution rate or tax rate on capital gains). |
Provisions and other non-current liabilities | 12.1 PROVISIONS AND OTHER NON-CURRENT LIABILITIES Accounting principles A provision is recognized when TotalEnergies has a present obligation, legal or constructive, as a result of a past event for which it is probable that an outflow of resources will be required and when a reliable estimate can be made regarding the amount of the obligation. The amount of the liability corresponds to the best possible estimate. Provisions and non-current liabilities are comprised of liabilities for which the amount and the timing are uncertain. They arise from environmental risks, legal and tax risks, litigation and other risks. |
Changes in the asset retirement obligation | Asset retirement obligations Accounting principles Asset retirement obligations, which result from a legal or constructive obligation, are recognized based on a reasonable estimate in the period in which the obligation arises. The associated asset retirement costs are capitalized as part of the carrying amount of the underlying asset and depreciated over the useful life of this asset. An entity is required to measure changes in the liability for an asset retirement obligation due to the passage of time (accretion) by applying a discount rate to the amount of the liability. Given the long-term nature of expenditures related to our asset retirement obligations, the rate is determined by reference to the rates of high quality AA-rated corporate bonds on the USD area for a long-term horizon. The increase of the provision due to the passage of time is recognized as “Other financial expense”. |
Lease contracts | Accounting principles A lease contract is a contract that grants lessee the right to use an identified asset for a specified period of time in exchange for consideration. At lease inception, an asset corresponding to right of use and a debt are recognized in the lessee’s balance sheet. Carrying value of right of use corresponds to present value of future lease payments plus any direct costs incurred for concluding the contract. Lease debt is recorded as a liability in the balance sheet under financial debts. Rights of use are depreciated over the useful lives applied by TotalEnergies. Leases that are of short duration or that relate to low value assets are not recorded in the balance sheet, in accordance with the exemptions in the standard. They are presented as off-balance sheet commitments. |
Cash and cash equivalents | Accounting principles Cash and cash equivalents are composed of cash on hand and highly liquid short-term investments that are easily convertible into known amounts of cash and are subject to insignificant risks of changes in value. Investments with maturity greater than three months and less than twelve months are shown under “Current financial assets”. Changes in current financial assets and liabilities are included in the financing activities section of the Consolidated Statement of Cash Flows. |
Fair value of financial instruments (excluding commodity contracts) | Accounting principles TotalEnergies uses derivative instruments to manage its exposure to risks of changes in interest rates, foreign exchange rates and commodity prices. These financial instruments are accounted for in accordance with IFRS 9, changes in fair value of derivative instruments are recognized in the income statement or in other comprehensive income and are recognized in the balance sheet in the accounts corresponding to their nature, according to the risk management strategy. The derivative instruments used by TotalEnergies are the following: - Financial instruments used for cash management purposes are part of a hedging strategy of currency and interest rate risks within global limits set by TotalEnergies and are considered to be held for trading. Changes in fair value are systematically recorded in the income statement. The balance sheet value of those instruments is included in “Current financial assets” or “Other current financial liabilities”. - When an external long-term financing is set up, specifically to finance subsidiaries, and when this financing involves currency and interest rate derivatives, these instruments are qualified as: 1) Fair value hedge of the interest rate and currency risks on the external debt financing the loans to subsidiaries. Changes in fair value of derivatives are recognized in the income statement, as are changes in fair value of underlying financial debts and loans to subsidiaries. The fair value of those hedging instruments of long-term financing is included in assets under “Non-current financial assets” or in liabilities under “Non-current financial debt” for the non-current portion. The current portion (less than one year) is accounted for in “Current financial assets” or “Other current financial liabilities”. In case of the anticipated termination of derivative instruments accounted for as fair value hedges, the amount paid or received is recognized in the income statement and: ● ● In case of a change in the strategy of the hedge (fair value hedge to cash flow hedge), if the components of the initial aggregated exposure had already been designated in a hedging relationship (FVH), TotalEnergies designates the new instrument as a hedging instrument of an aggregated position (CFH) without having to end the initial hedging relationship. 2) Cash flow hedge when TotalEnergies implements a strategy of fixing interest rate and/or currency rate on the external debt. Changes in fair value are recorded in other comprehensive income for the effective portion of the hedging and in the income statement for the ineffective portion of the hedging. When the hedged transaction affects profit or loss, the fair value variations of the hedging instrument recorded in equity are also symmetrically recycled to the income statement. The fair value of those hedging instruments of long-term financing is included in assets under “Non-current financial assets” or in liabilities under “Non-current financial debt” for the non-current portion. The current portion (less than one year) is accounted for in “Current financial assets” or “Other current financial liabilities”. If the hedging instrument expires, is sold or terminated by anticipation, gains or losses previously recognized in equity remain in equity. Amounts are recycled to the income statement only when the hedged transaction affects profit or loss. 3) In compliance with IFRS 9, TotalEnergies has decided to recognize in a separate component of the comprehensive income the variation of foreign currency basis spread (Cross Currency Swaps) identified in the hedging relationships qualified as fair value hedges and cash flow hedges. - Certain financial instruments hedge against risks related to the equity of foreign subsidiaries whose functional currency is not the euro (mainly the dollar). These instruments qualify as “net investment hedges” and changes in fair value are recorded in other comprehensive income under "Currency translation" for the effective portion of the hedging and in the income statement for the ineffective portion of the hedging. Gains or losses on hedging instruments previously recorded in equity, are reclassified to the income statement in the same period as the total or partial disposal of the foreign activity. The fair value of these instruments is recorded under "Current financial assets" and "Other current financial liabilities". - Put options granted to non-controlling-interest shareholders are initially recognized as financial liabilities at the present value of the exercise price of the options with a corresponding reduction in shareholders’ equity – TotalEnergies share. The financial liability is subsequently measured at fair value at each balance sheet date in accordance with contractual clauses and any variation is recorded in the income statement (cost of debt). |
Fair value hierarchy | Accounting principles According to IFRS 13, fair values are estimated for the majority of TotalEnergies’ financial instruments, with the exception of publicly traded equity securities and marketable securities for which the market price is used. Estimations of fair value, which are based on principles such as discounting future cash flows to present value, must be weighted by the fact that the value of a financial instrument at a given time may be influenced by the market environment (liquidity especially), and also the fact that subsequent changes in interest rates and exchange rates are not taken into account. As a consequence, the use of different estimates, methodologies and assumptions could have a material effect on the estimated fair value amounts. The methods used are as follows: - Financial debts, swaps The market value of swaps and of bonds that are hedged by those swaps has been determined on an individual basis by discounting future cash flows with the market curves existing at year-end. - Other financial instruments The fair value of interest rate swaps and of FRA’s (Forward Rate Agreements) is calculated by discounting future cash flows on the basis of market curves existing at year-end after adjustment for interest accrued but unpaid. Forward exchange contracts and currency swaps are valued on the basis of a comparison of the negotiated forward rates with the rates in effect on the financial markets at year-end for similar maturities. Exchange options are valued based on models commonly used by the market. |
Financial instruments related to commodity contracts | 16.1 FINANCIAL INSTRUMENTS RELATED TO COMMODITY CONTRACTS Accounting principles Financial instruments related to commodity contracts, including crude oil, petroleum products, gas, and power purchase/sales contracts within the trading activities, together with the commodity contract derivative instruments and freight rate swaps, are used to adjust TotalEnergies' exposure to price fluctuations within global trading limits . The valuation methodology is to mark-to-market all open positions for both physical and paper transactions. The valuations are determined on a daily basis using observable market data based on organized and over the counter (OTC) markets. In specific cases when market data is not directly available, the valuations are derived from observable data such as arbitrages, freight or spreads and market corroboration. For valuation of risks which are the result of a calculation, such as options for example, commonly known models are used to compute the fair value. |
Notes to the Consolidated Fin_2
Notes to the Consolidated Financial Statements (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes to the Consolidated Financial Statements | |
Schedule of contribution of Russian assets to key income and cash flow indicators | Russian Upstream Assets (M$) 2022 2021 Net income (share) TotalEnergies (11,578) 1,995 Operating cash flow 1,480 1,163 |
Schedule of Capital Employed by TotalEnergies in Russia | As of As of December 31, 2022 December 31, 2021 PAO Novatek – 6,243 Yamal LNG 4,626 4,333 Arctic LNG 2 – 2,450 Terneftegas – 573 Kharyaga – 53 Provisions (1,752) – Total 2,874 13,652 |
Business segment information (T
Business segment information (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Business segment information | |
Schedule of information by business segment | Integrated Gas, For the year ended December 31, 2022 Renewables Exploration & Refining & Marketing & (M$) & Power Production Chemicals Services Corporate Intercompany Total External sales 48,753 9,942 121,618 100,661 25 — 280,999 Intersegment sales 7,000 55,190 45,857 1,433 248 (109,728) — Excise taxes — — (737) (16,952) — — (17,689) Revenues from sales 55,753 65,132 166,738 85,142 273 (109,728) 263,310 Operating expenses (45,771) (24,521) (156,897) (81,746) (1,329) 109,728 (200,536) Depreciation, depletion and impairment of tangible assets and mineral interests (1,402) (8,115) (1,533) (1,033) (138) — (12,221) Operating income 8,580 32,496 8,308 2,363 (1,194) — 50,553 Net income (loss) from equity affiliates and other items 2,766 (9,943) 885 (20) 288 — (6,024) Tax on net operating income (1,712) (17,445) (2,544) (787) 281 — (22,207) Net operating income 9,634 5,108 6,649 1,556 (625) — 22,322 Net cost of net debt (1,278) Non-controlling interests (518) NET INCOME - TotalEnergies SHARE 20,526 Integrated For the year ended December 31, 2022 Gas, (adjustments) (a) Renewables Exploration & Refining & Marketing & (M$) & Power Production Chemicals Services Corporate Intercompany Total External sales 104 — — — — — 104 Intersegment sales — — — — — — — Excise taxes — — — — — — — Revenues from sales 104 — — — — — 104 Operating expenses 1,087 (985) 130 200 (600) — (168) Depreciation, depletion and impairment of tangible assets and mineral interests (122) 298 — (72) (9) — 95 Operating income (b) 1,069 (687) 130 128 (609) — 31 Net income (loss) from equity affiliates and other items (3,490) (10,925) (32) (23) 106 — (14,364) Tax on net operating income (89) (759) (751) (99) 141 — (1,557) Net operating income (b) (2,510) (12,371) (653) 6 (362) — (15,890) Net cost of net debt 277 Non-controlling interests (58) NET INCOME - TotalEnergies SHARE (15,671) (a) (b) On operating income — — 239 261 — On net operating income — — 336 194 — Integrated For the year ended December 31, 2022 Gas, (adjusted) Renewables Exploration & Refining & Marketing & (M$) & Power Production Chemicals Services Corporate Intercompany Total External sales 48,649 9,942 121,618 100,661 25 — 280,895 Intersegment sales 7,000 55,190 45,857 1,433 248 (109,728) — Excise taxes — — (737) (16,952) — — (17,689) Revenues from sales 55,649 65,132 166,738 85,142 273 (109,728) 263,206 Operating expenses (46,858) (23,536) (157,027) (81,946) (729) 109,728 (200,368) Depreciation, depletion and impairment of tangible assets and mineral interests (1,280) (8,413) (1,533) (961) (129) — (12,316) Adjusted operating income 7,511 33,183 8,178 2,235 (585) — 50,522 Net income (loss) from equity affiliates and other items 6,256 982 917 3 182 — 8,340 Tax on net operating income (1,623) (16,686) (1,793) (688) 140 — (20,650) Adjusted net operating income 12,144 17,479 7,302 1,550 (263) — 38,212 Net cost of net debt (1,555) Non-controlling interests (460) ADJUSTED NET INCOME - TotalEnergies SHARE 36,197 Integrated Gas, For the year ended December 31, 2022 Renewables Exploration & Refining & Marketing & (M$) & Power Production Chemicals Services Corporate Intercompany Total Total expenditures 6,475 10,646 1,391 1,186 104 — 19,802 Total divestments 3,427 807 214 222 16 — 4,686 Cash flow from operating activities 9,670 27,654 8,663 3,124 (1,744) — 47,367 Balance sheet as of December 31, 2022 Property, plant and equipment, intangible assets, net 30,885 87,833 11,525 8,120 669 — 139,032 Investments & loans in equity affiliates 20,869 2,138 4,431 451 — — 27,889 Other non-current assets 3,669 3,069 570 1,050 130 — 8,488 Working capital (432) (2,831) (3,293) (288) (3,393) — (10,237) Provisions and other non-current liabilities (5,250) (24,633) (3,760) (1,303) 694 — (34,252) Assets and liabilities classified as held for sale 155 208 — — - — 363 Capital Employed (Balance sheet) 49,896 65,784 9,473 8,030 (1,900) — 131,283 Less inventory valuation effect — — (2,035) (437) — — (2,472) CAPITAL EMPLOYED (BUSINESS SEGMENT INFORMATION) 49,896 65,784 7,438 7,593 (1,900) — 128,811 ROACE as a percentage 23 % 25 % 94 % 19 % 28 % Integrated Gas, For the year ended December 31, 2021 Renewables Exploration & Refining & Marketing & (M$) & Power Production Chemicals Services Corporate Intercompany Total External sales 30,704 7,246 87,600 80,288 25 — 205,863 Intersegment sales 4,260 34,896 27,637 451 254 (67,498) — Excise taxes — — (1,108) (20,121) — — (21,229) Revenues from sales 34,964 42,142 114,129 60,618 279 (67,498) 184,634 Operating expenses (29,964) (16,722) (108,982) (57,159) (927) 67,498 (146,256) Depreciation, depletion and impairment of tangible assets and mineral interests (1,650) (9,110) (1,583) (1,100) (113) — (13,556) Operating income 3,350 16,310 3,564 2,359 (761) — 24,822 Net income (loss) from equity affiliates and other items 2,745 (760) 518 108 45 — 2,656 Tax on net operating income (602) (7,506) (1,068) (738) 152 — (9,762) Net operating income 5,493 8,044 3,014 1,729 (564) — 17,716 Net cost of net debt (1,350) Non-controlling interests (334) NET INCOME - TotalEnergies SHARE 16,032 Integrated For the year ended December 31, 2021 Gas, (adjustments) (a) Renewables Exploration & Refining & Marketing & (M$) & Power Production Chemicals Services Corporate Intercompany Total External sales (44) — — — — — (44) Intersegment sales — — — — — — — Excise taxes — — — — — — — Revenues from sales (44) — — — — — (44) Operating expenses (271) (187) 1,470 278 — — 1,290 Depreciation, depletion and impairment of tangible assets and mineral interests (342) (418) (25) (36) — — (821) Operating income (b) (657) (605) 1,445 242 — — 425 Net income (loss) from equity affiliates and other items (215) (1,839) 56 (61) (54) — (2,113) Tax on net operating income 122 49 (396) (70) (67) — (362) Net operating income (b) (750) (2,395) 1,105 111 (121) — (2,050) Net cost of net debt 25 Non-controlling interests (3) NET INCOME - TotalEnergies SHARE (2,028) (a) (b) On operating income — — 1,481 315 — On net operating income — — 1,296 236 — Integrated For the year ended December 31, 2021 Gas, (adjusted) Renewables Exploration & Refining & Marketing & (M$) & Power Production Chemicals Services Corporate Intercompany Total External sales 30,748 7,246 87,600 80,288 25 — 205,907 Intersegment sales 4,260 34,896 27,637 451 254 (67,498) — Excise taxes — — (1,108) (20,121) — — (21,229) Revenues from sales 35,008 42,142 114,129 60,618 279 (67,498) 184,678 Operating expenses (29,693) (16,535) (110,452) (57,437) (927) 67,498 (147,546) Depreciation, depletion and impairment of tangible assets and mineral interests (1,308) (8,692) (1,558) (1,064) (113) — (12,735) Adjusted operating income 4,007 16,915 2,119 2,117 (761) — 24,397 Net income (loss) from equity affiliates and other items 2,960 1,079 462 169 99 — 4,769 Tax on net operating income (724) (7,555) (672) (668) 219 — (9,400) Adjusted net operating income 6,243 10,439 1,909 1,618 (443) — 19,766 Net cost of net debt (1,375) Non-controlling interests (331) AJUSTED NET INCOME - TotalEnergies SHARE 18,060 Integrated Gas, For the year ended December 31, 2021 Renewables Exploration & Refining & Marketing & (M$) & Power Production Chemicals Services Corporate Intercompany Total Total expenditures 6,341 7,276 1,638 1,242 92 — 16,589 Total divestments 1,350 894 348 319 22 — 2,933 Cash flow from operating activities 827 22,009 6,473 2,333 (1,232) — 30,410 Balance sheet as of December 31, 2021 Property, plant and equipment, intangible assets, net 31,525 86,418 11,884 8,578 638 — 139,043 Investments & loans in equity affiliates 20,501 6,337 3,729 486 — — 31,053 Other non-current assets 3,359 4,441 608 1,105 309 — 9,822 Working capital 5,058 (1,216) (2,558) 378 (4,220) — (2,558) Provisions and other non-current liabilities (4,495) (24,613) (3,840) (1,478) 581 — (33,845) Assets and liabilities classified as held for sale 30 308 — — — — 338 Capital Employed (Balance sheet) 55,978 71,675 9,823 9,069 (2,692) — 143,853 Less inventory valuation effect — — (1,754) (286) — — (2,040) CAPITAL EMPLOYED (BUSINESS SEGMENT INFORMATION) 55,978 71,675 8,069 8,783 (2,692) — 141,813 ROACE as a percentage 12 % 14 % 20 % 18 % 14 % Integrated Gas, For the year ended December 31, 2020 Renewables Exploration & Refining & Marketing & (M$) & Power Production Chemicals Services Corporate Intercompany Total External sales 15,629 4,973 56,615 63,451 17 — 140,685 Intersegment sales 2,003 18,483 17,378 357 223 (38,444) — Excise taxes — — (2,405) (18,576) — — (20,981) Revenues from sales 17,632 23,456 71,588 45,232 240 (38,444) 119,704 Operating expenses (15,847) (11,972) (70,524) (42,807) (1,049) 38,444 (103,755) Depreciation, depletion and impairment of tangible assets and mineral interests (2,312) (16,998) (1,878) (984) (92) — (22,264) Operating income (527) (5,514) (814) 1,441 (901) — (6,315) Net income (loss) from equity affiliates and other items 794 697 (393) 37 272 — 1,407 Tax on net operating income 71 (208) 59 (515) (67) — (660) Net operating income 338 (5,025) (1,148) 963 (696) — (5,568) Net cost of net debt (1,768) Non-controlling interests 94 NET INCOME - TotalEnergies SHARE (7,242) Integrated For the year ended December 31, 2020 Gas, (adjustments) (a) Renewables Exploration & Refining & Marketing & (M$) & Power Production Chemicals Services Corporate Intercompany Total External sales 20 — — — — — 20 Intersegment sales — — — — — — — Excise taxes — — — — — — — Revenues from sales 20 — — — — — 20 Operating expenses (423) (137) (1,552) (330) (60) — (2,502) Depreciation, depletion and impairment of tangible assets and mineral interests (953) (7,693) (306) — — — (8,952) Operating income (b) (1,356) (7,830) (1,858) (330) (60) — (11,434) Net income (loss) from equity affiliates and other items (382) 54 (677) (24) 107 — (922) Tax on net operating income 298 388 348 93 (145) — 982 Net operating income (b) (1,440) (7,388) (2,187) (261) (98) — (11,374) Net cost of net debt (29) Non-controlling interests 102 NET INCOME - TotalEnergies SHARE (11,301) (a) (b) On operating income — — (1,244) (196) — On net operating income — — (1,165) (137) — Integrated For the year ended December 31, 2020 Gas, (adjusted) Renewables Exploration & Refining & Marketing & (M$) & Power Production Chemicals Services Corporate Intercompany Total External sales 15,609 4,973 56,615 63,451 17 – 140,665 Intersegment sales 2,003 18,483 17,378 357 223 (38,444) – Excise taxes – – (2,405) (18,576) – – (20,981) Revenues from sales 17,612 23,456 71,588 45,232 240 (38,444) 119,684 Operating expenses (15,424) (11,835) (68,972) (42,477) (989) 38,444 (101,253) Depreciation, depletion and impairment of tangible assets and mineral interests (1,359) (9,305) (1,572) (984) (92) – (13,312) Adjusted operating income 829 2,316 1,044 1,771 (841) – 5,119 Net income (loss) from equity affiliates and other items 1,176 643 284 61 165 – 2,329 Tax on net operating income (227) (596) (289) (608) 78 – (1,642) Adjusted net operating income 1,778 2,363 1,039 1,224 (598) – 5,806 Net cost of net debt (1,739) Non-controlling interests (8) ADJUSTED NET INCOME - TotalEnergies SHARE 4,059 Integrated Gas, For the year ended December 31, 2020 Renewables Exploration & Refining & Marketing & (M$) & Power Production Chemicals Services Corporate Intercompany Total Total expenditures 6,230 6,782 1,325 1,052 145 — 15,534 Total divestments 1,152 819 149 158 177 — 2,455 Cash flow from operating activities 2,129 9,922 2,438 2,101 (1,787) — 14,803 Balance sheet as of December 31, 2020 Property, plant and equipment, intangible assets, net 30,704 89,207 12,486 8,734 732 — 141,863 Investments & loans in equity affiliates 16,455 7,328 3,638 555 — — 27,976 Other non-current assets 3,647 5,093 791 1,260 1,042 — 11,833 Working capital (1,004) 1,968 (264) (43) (4,470) — (3,813) Provisions and other non-current liabilities (4,566) (24,909) (4,658) (1,641) 606 — (35,168) Assets and liabilities classified as held for sale 375 241 (83) — — — 533 Capital Employed (Balance sheet) 45,611 78,928 11,910 8,865 (2,090) — 143,224 Less inventory valuation effect — — (535) (72) — — (607) CAPITAL EMPLOYED (BUSINESS SEGMENT INFORMATION) 45,611 78,928 11,375 8,793 (2,090) — 142,617 ROACE as a percentage 4 % 3 % 9 % 14 % 4 % |
Schedule of reconciliation of the information by business segment with consolidated financial statements | Consolidated For the year ended December 31, 2022 statement of (M$) Adjusted Adjustments (a) income Sales 280,895 104 280,999 Excise taxes (17,689) — (17,689) Revenues from sales 263,206 104 263,310 Purchases, net of inventory variation (171,049) 1,601 (169,448) Other operating expenses (28,745) (1,044) (29,789) Exploration costs (574) (725) (1,299) Depreciation, depletion and impairment of tangible assets and mineral interests (12,316) 95 (12,221) Other income 1,349 1,500 2,849 Other expense (1,542) (5,802) (7,344) Financial interest on debt (2,386) — (2,386) Financial income and expense from cash & cash equivalents 746 397 1,143 Cost of net debt (1,640) 397 (1,243) Other financial income 812 84 896 Other financial expense (533) — (533) Net income (loss) from equity affiliates 8,254 (10,146) (1,892) Income taxes (20,565) (1,677) (22,242) CONSOLIDATED NET INCOME 36,657 (15,613) 21,044 TotalEnergies share 36,197 (15,671) 20,526 Non-controlling interests 460 58 518 (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. Consolidated For the year ended December 31, 2021 statement of (M$) Adjusted Adjustments (a) income Sales 205,907 (44) 205,863 Excise taxes (21,229) – (21,229) Revenues from sales 184,678 (44) 184,634 Purchases, net of inventory variation (120,160) 1,538 (118,622) Other operating expenses (26,754) (140) (26,894) Exploration costs (632) (108) (740) Depreciation, depletion and impairment of tangible assets and mineral interests (12,735) (821) (13,556) Other income 1,300 12 1,312 Other expense (944) (1,373) (2,317) Financial interest on debt (1,904) – (1,904) Financial income and expense from cash & cash equivalents 340 39 379 Cost of net debt (1,564) 39 (1,525) Other financial income 762 – 762 Other financial expense (539) – (539) Net income (loss) from equity affiliates 4,190 (752) 3,438 Income taxes (9,211) (376) (9,587) CONSOLIDATED NET INCOME 18,391 (2,025) 16,366 TotalEnergies share 18,060 (2,028) 16,032 Non-controlling interests 331 3 334 (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. Consolidated For the year ended December 31, 2020 statement of (M$) Adjusted Adjustments (a) income Sales 140,665 20 140,685 Excise taxes (20,981) – (20,981) Revenues from sales 119,684 20 119,704 Purchases, net of inventory variation (75,672) (1,814) (77,486) Other operating expenses (24,850) (688) (25,538) Exploration costs (731) – (731) Depreciation, depletion and impairment of tangible assets and mineral interests (13,312) (8,952) (22,264) Other income 1,405 832 2,237 Other expense (689) (817) (1,506) Financial interest on debt (2,140) (7) (2,147) Financial income and expense from cash & cash equivalents 68 (31) 37 Cost of net debt (2,072) (38) (2,110) Other financial income 914 – 914 Other financial expense (689) (1) (690) Net income (loss) from equity affiliates 1,388 (936) 452 Income taxes (1,309) 991 (318) CONSOLIDATED NET INCOME 4,067 (11,403) (7,336) TotalEnergies share 4,059 (11,301) (7,242) Non-controlling interests 8 (102) (94) (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. |
Schedule of detail of the adjustment items | Adjustments to operating income Integrated Gas, For the year ended December 31, 2022 Renewables Exploration & Refining & Marketing & (M$) & Power Production Chemicals Services Corporate Total Inventory valuation effect — – 239 261 – 500 Effect of changes in fair value 1,248 – – – – 1,248 Restructuring charges (25) – – (5) – (30) Asset impairment and provisions charges (126) (588) – (98) (9) (821) Gains (losses) on disposals of assets – – – – – – Other items (28) (99) (109) (30) (600) (866) TOTAL 1,069 (687) 130 128 (609) 31 Adjustments to net income, TotalEnergies share Integrated Gas, For the year ended December 31, 2022 Renewables Exploration & Refining & Marketing & (M$) & Power Production Chemicals Services Corporate Total Inventory valuation effect – – 323 178 – 501 Effect of changes in fair value 1,138 – – – – 1,138 Restructuring charges (28) – – (14) – (42) Asset impairment and provisions charges (4,481) (11,141) – (112) (9) (15,743) Gains (losses) on disposals of assets 1,391 – – – – 1,391 Other items (576) (1,093) (990) (60) (197) (2,916) TOTAL (2,556) (12,234) (667) (8) (206) (15,671) Adjustments to operating income Integrated Gas, For the year ended December 31, 2021 Renewables Exploration & Refining & Marketing & (M$) & Power Production Chemicals Services Corporate Total Inventory valuation effect – – 1,481 315 – 1,796 Effect of changes in fair value (217) – – – – (217) Restructuring charges (17) (59) (10) – – (86) Asset impairment and provisions charges (342) (356) (25) (36) – (759) Gains (losses) on disposals of assets – (170) — — – (170) Other items (81) (20) (1) (37) – (139) TOTAL (657) (605) 1,445 242 – 425 Adjustments to net income, TotalEnergies share Integrated Gas, For the year ended December 31, 2021 Renewables Exploration & Refining & Marketing & (M$) & Power Production Chemicals Services Corporate Total Inventory valuation effect – – 1,277 218 – 1,495 Effect of changes in fair value (194) – – – – (194) Restructuring charges (17) (75) (118) (44) (54) (308) Asset impairment and provisions charges (332) (500) (42) (36) – (910) Gains (losses) on disposals of assets (a) – (1,726) – – – (1,726) Other items (196) (51) (31) (40) (67) (385) TOTAL (739) (2,352) 1,086 98 (121) (2,028) (a) Of which $( 1,379 ) million relate to the impact of the TotalEnergies' interest sale of Petrocedeño to PDVSA. Adjustments to operating income Integrated Gas, For the year ended December 31, 2020 Renewables Exploration & Refining & Marketing & (M$) & Power Production Chemicals Services Corporate Total Inventory valuation effect – – (1,244) (196) – (1,440) Effect of changes in fair value 20 – – – – 20 Restructuring charges (39) (35) (30) – – (104) Asset impairment and provisions charges (953) (7,693) (306) – – (8,952) Other items (384) (102) (278) (134) (60) (958) TOTAL (1,356) (7,830) (1,858) (330) (60) (11,434) Adjustments to net income, TotalEnergies share Integrated Gas, For the year ended December 31, 2020 Renewables Exploration & Refining & Marketing & (M$) & Power Production Chemicals Services Corporate Total Inventory valuation effect – – (1,160) (120) — (1,280) Effect of changes in fair value 23 – – – – 23 Restructuring charges (43) (29) (292) – – (364) Asset impairment and provisions charges (829) (7,328) (306) (2) – (8,465) Gains (losses) on disposals of assets — — – – 104 104 Other items (566) — (423) (106) (224) (1,319) TOTAL (1,415) (7,357) (2,181) (228) (120) (11,301) |
Segment Information by geogra_2
Segment Information by geographical area (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Segment Information by geographical area | |
Schedule of segment information by geographical area | Rest of North Rest of (M$) France Europe America Africa the world Total For the year ended December 31, 2022 External sales 58,411 122,641 33,188 24,582 42,177 280,999 Property, plant and equipment, intangible assets, net 13,080 26,382 13,292 39,410 46,867 139,032 Capital expenditures 1,632 2,743 5,304 3,253 6,870 19,802 For the year ended December 31, 2021 External sales 43,316 85,072 22,998 19,520 34,957 205,863 Property, plant and equipment, intangible assets, net 14,204 29,660 12,229 41,593 41,357 139,043 Capital expenditures 2,157 3,027 1,680 3,696 6,029 16,589 For the year ended December 31, 2020 External sales 32,748 67,292 13,258 16,011 11,376 140,685 Property, plant and equipment, intangible assets, net 14,555 30,932 11,891 43,087 41,398 141,863 Capital expenditures 2,044 3,165 899 3,816 5,610 15,534 |
Main items related to operati_2
Main items related to operating activities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Main items related to operating activities | |
Schedule of operating expenses | For the year ended December 31, (M$) 2022 2021 2020 Purchases, net of inventory variation (a) (b) (169,448) (118,622) (77,486) Exploration costs (1,299) (740) (731) Other operating expenses (c) (29,789) (26,894) (25,538) of which non-current operating liabilities (allowances) reversals 1,086 1,299 778 of which current operating liabilities (allowances) reversals (188) (30) (77) OPERATING EXPENSES (200,536) (146,256) (103,755) (a) Includes taxes paid on oil and gas production in the Exploration & Production segment, amongst others, royalties. (b) TotalEnergies values under / over lifting at market value. (c) Principally composed of production and administrative costs (see in particular the payroll costs as detailed in Note 10 to the Consolidated Financial Statements “Payroll, staff and employee benefits obligations"). |
Schedule of amortization, depreciation and impairment of tangible assets and mineral interests | For the year ended December 31, (M$) 2022 2021 2020 Depreciation and impairment of tangible assets (11,128) (12,683) (21,188) Amortization and impairment of mineral assets (1,093) (873) (1,076) TOTAL (12,221) (13,556) (22,264) |
Schedule of inventories and changes in the valuation allowance on inventories | As of December 31, 2022 Valuation (M$) Gross value allowance Net value Crude oil and natural gas 4,758 (47) 4,711 Refined products 6,386 (162) 6,224 Chemicals products 1,635 (93) 1,542 Trading inventories 6,672 – 6,672 Other inventories 4,797 (1,010) 3,787 TOTAL 24,248 (1,312) 22,936 As of December 31, 2021 Valuation (M$) Gross value allowance Net value Crude oil and natural gas 3,221 (7) 3,214 Refined products 5,411 (50) 5,361 Chemicals products 1,519 (98) 1,421 Trading inventories 6,501 – 6,501 Other inventories 4,538 (1,083) 3,455 TOTAL 21,190 (1,238) 19,952 As of December 31, 2020 Valuation (M$) Gross value allowance Net value Crude oil and natural gas 1,818 (1) 1,817 Refined products 3,913 (68) 3,845 Chemicals products 1,330 (102) 1,228 Trading inventories 5,130 – 5,130 Other inventories 3,824 (1,114) 2,710 TOTAL 16,015 (1,285) 14,730 Changes in the valuation allowance on inventories are as follows: Currency Valuation translation Valuation For the year ended December 31, allowance as of adjustment and allowance as of (M$) January 1, Increase (net) other variations December 31, 2022 (1,238) (121) 47 (1,312) 2021 (1,285) (36) 83 (1,238) 2020 (1,174) (85) (26) (1,285) |
Schedule of accounts receivable and other current assets and changes in the valuation allowances | As of December 31, 2022 Valuation (M$) Gross value allowance Net value Accounts receivable 25,204 (826) 24,378 Recoverable taxes 6,295 (32) 6,263 Other operating receivables 28,582 (293) 28,289 Prepaid expenses 1,455 – 1,455 Other current assets 63 – 63 Other current assets 36,395 (325) 36,070 As of December 31, 2021 Valuation (M$) Gross value allowance Net value Accounts receivable 22,776 (793) 21,983 Recoverable taxes 3,713 (54) 3,659 Other operating receivables 29,767 (214) 29,553 Prepaid expenses 1,879 – 1,879 Other current assets 53 – 53 Other current assets 35,412 (268) 35,144 As of December 31, 2020 Valuation (M$) Gross value allowance Net value Accounts receivable 14,899 (831) 14,068 Recoverable taxes 3,598 (67) 3,531 Other operating receivables 8,251 (208) 8,043 Prepaid expenses 1,801 – 1,801 Other current assets 53 – 53 Other current assets 13,703 (275) 13,428 Changes in the valuation allowance on “Accounts receivable” and “Other current assets” are as follows: Currency Valuation translation Valuation allowance as of adjustments and allowance as of For the year ended December 31, January 1, Increase (net) other variations December 31, Accounts receivable 2022 (793) (98) 65 (826) 2021 (831) (24) 62 (793) 2020 (674) (107) (50) (831) Other current assets 2022 (268) (83) 26 (325) 2021 (275) (10) 17 (268) 2020 (335) 37 23 (275) |
Schedule of other creditors and accrued liabilities | As of December 31, 2022 2021 2020 Accruals and deferred income 737 3,744 842 Payable to States (including taxes and duties) 14,780 10,281 5,734 Payroll 1,572 1,481 1,587 Other operating liabilities 35,186 27,294 14,302 TOTAL 52,275 42,800 22,465 |
Schedule of additional information on cash paid or received in the cash flow from operating activities | For the year ended December 31, 2022 2021 2020 Interests paid (2,292) (1,886) (2,145) Interests received 655 284 197 Income tax paid (a) (14,486) (4,508) (2,858) Dividends received 3,955 2,346 1,444 (a) These amounts include taxes paid in kind under production-sharing contracts in exploration and production activities. Detail of changes in working capital For the year ended December 31, 2022 2021 2020 Inventories (3,805) (5,903) 2,274 Accounts receivable (3,272) (6,788) 4,818 Other current assets (3,523) (21,026) 3,374 Accounts payable 5,313 12,073 (5,355) Other creditors and accrued liabilities 6,478 21,028 (3,242) NET AMOUNT, DECREASE (INCREASE) 1,191 (616) 1,869 Detail of changes in provisions and deferred taxes As of December 31, 2022 2021 2020 Accruals 2,177 (467) 350 Deferred taxes 2,417 1,429 (2,132) TOTAL 4,594 962 (1,782) |
Other items from operating ac_2
Other items from operating activities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Other items from operating activities | |
Schedule of other income and other expense | For the year ended December 31, 2022 2021 2020 Gains on disposal of assets 2,244 890 961 Foreign exchange gains 379 227 746 Other 226 195 530 OTHER INCOME 2,849 1,312 2,237 Losses on disposal of assets (2,613) (436) (52) Foreign exchange losses (1,023) (702) (320) Amortization of other intangible assets (excl. mineral interests) (430) (448) (343) Other (3,278) (731) (791) OTHER EXPENSE (7,344) (2,317) (1,506) |
Schedule of other financial income and expense | As of December 31, 2022 2021 2020 Dividend income on non-consolidated subsidiaries 159 203 160 Capitalized financial expenses 310 134 110 Other 427 425 644 OTHER FINANCIAL INCOME 896 762 914 Accretion of asset retirement obligations (430) (449) (607) Other (103) (90) (83) OTHER FINANCIAL EXPENSE (533) (539) (690) |
Schedule of other non-current assets and changes in the valuation allowance on loans and advances | As of December 31, 2022 Valuation (M$) Gross value allowance Net value Loans and advances (a) 2,092 (255) 1,837 Other non-current financial assets related to operational activities 250 – 250 Other 301 – 301 TOTAL 2,643 (255) 2,388 As of December 31, 2021 Valuation (M$) Gross value allowance Net value Loans and advances (a) 2,364 (257) 2,107 Other non-current financial assets related to operational activities 312 – 312 Other 378 – 378 TOTAL 3,054 (257) 2,797 As of December 31, 2020 Valuation (M$) Gross value allowance Net value Loans and advances (a) 2,731 (273) 2,458 Other non-current financial assets related to operational activities 287 – 287 Other 65 – 65 TOTAL 3,083 (273) 2,810 (a) Excluding loans to equity affiliates. Changes in the valuation allowance on loans and advances are detailed as follows: Currency Valuation translation Valuation For the year ended December 31, allowance as of adjustment and allowance as of (M$) January 1, Increases Decreases other variations December 31, 2022 (257) (27) 11 18 (255) 2021 (273) (6) 14 8 (257) 2020 (266) (30) 15 8 (273) |
Intangible and tangible assets
Intangible and tangible assets (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Intangible and tangible assets | |
Schedule of intangible assets | As of December 31, 2022 Amortization and (M$) Cost impairment Net Goodwill 9,010 (360) 8,650 Proved mineral interests 18,025 (10,088) 7,937 Unproved mineral interests 15,962 (2,946) 13,016 Other intangible assets 6,795 (4,467) 2,328 TOTAL INTANGIBLE ASSETS 49,792 (17,861) 31,931 As of December 31, 2021 Amortization and (M$) Cost impairment Net Goodwill 9,728 (899) 8,829 Proved mineral interests 17,382 (9,730) 7,652 Unproved mineral interests 16,637 (2,831) 13,806 Other intangible assets 7,185 (4,988) 2,197 TOTAL INTANGIBLE ASSETS 50,932 (18,448) 32,484 As of December 31, 2020 Amortization and (M$) Cost impairment Net Goodwill 9,738 (931) 8,807 Proved mineral interests 16,559 (9,595) 6,964 Unproved mineral interests 20,300 (4,790) 15,510 Other intangible assets 7,212 (4,965) 2,247 TOTAL INTANGIBLE ASSETS 53,809 (20,281) 33,528 |
Schedule of change in net intangible assets | Currency Net amount as of Amortization and translation Net amount as of (M$) January 1, Expenditures Disposals impairment adjustment Other December 31, 2022 32,484 1,991 (75) (1,582) (423) (464) 31,931 2021 33,528 696 (271) (1,322) (394) 247 32,484 2020 33,178 784 (277) (1,430) 305 968 33,528 |
Summary of changes in carrying amount of goodwill by business segment | Net goodwill as of Net goodwill as of (M$) January 1, 2022 Increases Impairments Other December 31, 2022 Integrated Gas, Renewables & Power 5,243 111 (58) (273) 5,023 Exploration & Production 2,612 – – (31) 2,581 Refining & Chemicals 519 – – (17) 502 Marketing & Services 426 108 – (18) 516 Corporate 29 – – (1) 28 TOTAL 8,829 219 (58) (340) 8,650 |
Schedule of property, plant and equipment, including analysis of changes | As of December 31, 2022 Depreciation and (M$) Cost impairment Net Property, plant and equipment of exploration and production activities Proved properties 210,079 (146,571) 63,508 Unproved properties 1,023 (268) 755 Work in progress 20,294 (688) 19,606 Subtotal 231,396 (147,527) 83,869 Other property, plant and equipment Land 3,089 (1,039) 2,050 Machinery, plant and equipment (including transportation equipment) 37,002 (26,079) 10,923 Buildings 10,230 (6,627) 3,603 Work in progress 3,960 (23) 3,937 Other 10,401 (7,682) 2,719 Subtotal 64,682 (41,450) 23,232 TOTAL PROPERTY, PLANT AND EQUIPMENT 296,078 (188,977) 107,101 As of December 31, 2021 Depreciation and (M$) Cost impairment Net Property, plant and equipment of exploration and production activities Proved properties 212,264 (149,221) 63,043 Unproved properties 1,635 (268) 1,367 Work in progress 18,463 (831) 17,632 Subtotal 232,362 (150,320) 82,042 Other property, plant and equipment Land 3,145 (973) 2,172 Machinery, plant and equipment (including transportation equipment) 38,285 (26,425) 11,860 Buildings 10,558 (6,646) 3,912 Work in progress 3,625 (8) 3,617 Other 10,434 (7,478) 2,956 Subtotal 66,047 (41,530) 24,517 TOTAL PROPERTY, PLANT AND EQUIPMENT 298,409 (191,850) 106,559 As of December 31, 2020 Depreciation and (M$) Cost impairment Net Property, plant and equipment of exploration and production activities Proved properties 215,892 (147,914) 67,978 Unproved properties 2,978 (268) 2,710 Work in progress 13,873 (861) 13,012 Subtotal 232,743 (149,043) 83,700 Other property, plant and equipment Land 2,999 (905) 2,094 Machinery, plant and equipment (including transportation equipment) 39,506 (27,381) 12,125 Buildings 11,184 (6,858) 4,326 Work in progress 3,063 (1) 3,062 Other 10,983 (7,955) 3,028 Subtotal 67,735 (43,100) 24,635 TOTAL PROPERTY, PLANT AND EQUIPMENT 300,478 (192,143) 108,335 Change in net property, plant and equipment is analyzed in the following table: Currency Net amount as of Depreciation and translation Net amount as of (M$) January 1, Expenditures Disposals impairment adjustment Other December 31, 2022 106,559 13,699 (951) (12,275) (2,236) 2,305 107,101 2021 108,335 11,647 (705) (13,133) (1,739) 2,154 106,559 2020 116,408 9,980 (611) (21,544) 1,706 2,396 108,335 |
Schedule of facilities and equipment under leases | As of December 31, 2022 Depreciation and (M$) Cost impairment Net Property, plant and equipment of exploration and production activities 4,497 (2,121) 2,376 Other property, plant and equipment Land 1,396 (397) 999 Machinery, plant and equipment (including transportation equipment) 4,691 (2,100) 2,591 Buildings 1,750 (615) 1,135 Other 745 (483) 262 Subtotal 8,582 (3,595) 4,987 TOTAL PROPERTY, PLANT AND EQUIPMENT 13,079 (5,716) 7,363 As of December 31, 2021 Depreciation and (M$) Cost impairment Net Property, plant and equipment of exploration and production activities 3,228 (1,683) 1,545 Other property, plant and equipment Land 1,441 (324) 1,117 Machinery, plant and equipment (including transportation equipment) 4,910 (1,819) 3,091 Buildings 1,853 (561) 1,292 Other 712 (404) 308 Subtotal 8,916 (3,108) 5,808 TOTAL PROPERTY, PLANT AND EQUIPMENT 12,144 (4,791) 7,353 As of December 31, 2020 Depreciation and (M$) Cost impairment Net Property, plant and equipment of exploration and production activities 2,758 (1,297) 1,461 Other property, plant and equipment Land 1,187 (222) 965 Machinery, plant and equipment (including transportation equipment) 4,606 (1,631) 2,975 Buildings 1,778 (385) 1,393 Other 682 (286) 396 Subtotal 8,253 (2,524) 5,729 TOTAL PROPERTY, PLANT AND EQUIPMENT 11,011 (3,821) 7,190 |
Equity affiliates, other inve_2
Equity affiliates, other investments and related parties (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Equity affiliates, other investments and related parties | |
Schedule of equity affiliates in facing financials | Equity value As of December 31, (M$) 2022 2021 2020 Total Associates 9,533 17,244 15,745 Total Joint ventures 14,623 9,277 7,102 TOTAL 24,156 26,521 22,847 Loans 3,733 4,532 5,129 TOTAL 27,889 31,053 27,976 Profit/(loss) (M$) 2022 2021 2020 Total Associates (4,567) 1,186 753 Total Joint ventures 2,675 2,252 (301) TOTAL (1,892) 3,438 452 Other comprehensive income (M$) 2022 2021 2020 Total Associates 3,368 734 (1,704) Total Joint ventures 129 (28) (127) TOTAL 3,497 706 (1,831) |
Schedule of information related to associates | Novatek (a) Liquefaction entities PetroCedeño (a) Exploration & production activites 2022 2021 2020 2022 2021 2020 2020 Non current assets – 26,954 23,748 40,850 39,348 34,273 4,008 Current assets – 8,208 4,170 8,276 11,075 7,537 6,428 TOTAL ASSETS – 35,162 27,918 49,126 50,423 41,810 10,436 Shareholder’s equity – 25,944 22,160 19,188 23,867 23,403 4,548 Non current liabilities – 3,246 3,164 22,312 19,659 13,608 73 Current liabilities – 5,972 2,594 7,626 6,897 4,799 5,815 TOTAL LIABILITIES – 35,162 27,918 49,126 50,423 41,810 10,436 Revenue from sales – 15,876 9,733 35,888 23,243 15,584 66 Net income – 5,871 1,759 10,247 8,056 2,416 – Other comprehensive income – (82) (3,206) – – – – % owned 19.40 % 19.40 % 19.40 % – – – 30.32 % Equity value – 6,243 5,596 3,243 5,582 5,534 1,379 Including goodwill and identifiable assets – 1,210 1,297 34 1,832 1,837 – Profit/(loss) (5,747) 1,065 264 (340) 1,024 237 – Share of Other Comprehensive Income, net amount 3,118 446 (1,409) (71) 85 (122) – Dividends paid to TotalEnergies 883 387 229 1,224 817 406 – (a) Information includes the best Company’s estimates of results at the date of TotalEnergies’ financial statements. Adani Green Energy Limited (a) Renewables and Electricity activities 2022 2021 Non current assets 6,961 6,223 Current assets 769 1,042 TOTAL ASSETS 7,730 7,265 Shareholder’s equity 807 316 Non current liabilities 5,805 5,560 Current liabilities 1,118 1,389 TOTAL LIABILITIES 7,730 7,265 Revenue from sales 1,073 545 Net income 104 35 Other comprehensive income (112) (10) % owned 19.74 % 20.00 % Equity value 1,856 2,102 including goodwill and identifiable assets 1,697 2,039 Profit/(loss) 21 7 Share of Other Comprehensive Income, net amount 23 6 Dividends paid to TotalEnergies – – Saudi Aramco Total Refining & Chemicals activities Refining & Petrochemicals Qatar (M$) 2022 2021 2020 2022 2021 2020 Non current assets 10,003 10,264 10,698 3,905 3,909 4,105 Current assets 3,615 2,221 1,211 2,491 1,908 1,521 TOTAL ASSETS 13,618 12,485 11,909 6,396 5,817 5,626 Shareholder’s equity 3,858 1,164 1,256 2,737 2,693 2,717 Non current liabilities 6,365 7,322 7,994 2,062 1,906 2,171 Current liabilities 3,395 3,999 2,659 1,597 1,218 738 TOTAL LIABILITIES 13,618 12,485 11,909 6,396 5,817 5,626 Revenue from sales 20,492 11,123 6,031 13,193 9,266 5,222 Net income 2,409 (245) (686) 629 649 91 Other comprehensive income 284 155 (171) (5) (5) – % owned 37.50 % 37.50 % 37.50 % Equity value 1,447 437 471 703 693 716 including goodwill and identifiable assets – – – – – – Profit/(loss) 903 (92) (257) 161 174 57 Share of Other Comprehensive Income, net amount 147 116 (128) 10 13 (16) Dividends paid to TotalEnergies – – – 138 199 63 |
Schedule of information related to joint ventures | Liquefaction entities Hanwha TotalEnergies (Integrated Gas, Renewables & Power) Petrochemical Co (Refining & Chemicals) (M$) 2022 2021 2020 2022 2021 2020 Non current assets 65,293 66,924 70,425 4,113 4,443 4,664 Current assets excluding cash and cash equivalents 2,630 2,912 1,513 2,326 2,117 1,575 Cash and cash equivalents 4,375 2,312 1,834 82 151 303 TOTAL ASSETS 72,298 72,148 73,772 6,521 6,711 6,542 Shareholder’s equity 17,455 9,956 4,433 3,146 3,538 3,443 Other non current liabilities 10,785 8,205 8,259 180 164 167 Non current financial debts 41,452 50,920 58,128 1,220 1,241 1,703 Other current liabilities 2,606 3,067 2,952 1,117 1,055 583 Current financial debts – – – 858 713 646 TOTAL LIABILITIES 72,298 72,148 73,772 6,521 6,711 6,542 Revenue from sales 24,701 14,380 8,543 10,824 8,600 5,734 Depreciation and depletion of tangible assets and mineral interests (2,814) (3,058) (3,130) (289) (312) (278) Interest income 17 – 2 – – – Interest expense (2,453) (2,599) (2,972) (47) (44) (2) Income taxes (2,804) (1,448) 77 (65) (222) (69) Net income 12,791 5,600 (2,399) 123 620 133 Other comprehensive income 526 323 (323) (189) (308) 194 % owned 50.00 % 50.00 % 50.00 % Equity value 4,315 2,725 1,602 1,573 1,769 1,721 including goodwill and identifiable assets 465 502 546 – – – Profit/(loss) 2,616 1,119 (633) 62 310 67 Share of Other Comprehensive Income, net amount 137 84 (84) (59) (150) 87 Dividends paid to TotalEnergies 1,166 81 – 162 109 102 |
Schedule of main aggregated financial items in equity consolidated affiliates not presented individually | 2022 2021 2020 As of December 31, Joint Joint Joint (M$) Associates ventures Associates ventures Associates ventures Non Current assets 6,014 17,484 5,987 9,745 5,454 7,002 Current assets 1,591 3,485 1,849 1,799 1,299 1,671 TOTAL ASSETS 7,605 20,969 7,836 11,544 6,753 8,673 Shareholder's equity - TotalEnergies share 1,423 4,042 1,366 2,531 1,183 1,963 Shareholder's equity - Non controlling interests – 1,414 – – – – Non current liabilities 5,296 12,422 5,455 7,460 4,881 5,469 Current liabilities 886 3,091 1,015 1,553 689 1,241 TOTAL LIABILITIES 7,605 20,969 7,836 11,544 6,753 8,673 2022 2021 2020 For the year ended December 31, Joint Joint Joint (M$) Associates ventures Associates ventures Associates ventures Revenues from sales 2,338 7,202 2,450 4,850 2,154 3,116 Net income 488 436 514 381 478 202 Non controlling interests – 110 – – – – Share of other comprehensive income items 140 52 68 38 (29) (130) Equity value 2,285 8,735 2,188 4,782 2,049 3,779 Profit/(Loss) 436 (3) (992) 823 452 265 Dividends paid to TotalEnergies 469 109 498 96 409 59 |
Schedule of other investments | As of As of As of December 31, 2022 January 1, Increase - Change in December 31, (M$) 2022 Decrease fair value 2022 Enphase Energy Inc 457 (579) 122 – Other shares through fair value OCI (unit value < $50M) 116 13 (10) 119 Equity instruments recorded through fair value OCI 573 (566) 112 119 BTC Limited 14 – (9) 5 Hubei Cathay Smart Energy Fund 36 7 11 54 Other shares through fair value P&L (unit value < $50M) 1,002 (54) (75) 873 Equity instruments recorded through fair value P&L 1,052 (47) (73) 932 TOTAL EQUITY INSTRUMENTS 1,625 (613) 39 1,051 As of As of As of December 31, 2021 January 1, Increase - Change in December 31, (M$) 2021 Decrease fair value 2021 Enphase Energy Inc 613 (177) 21 457 Tellurian Investments Inc. 57 (111) 54 – Other shares through fair value OCI (unit value < $50M) 113 12 (9) 116 Equity instruments recorded through fair value OCI 783 (276) 66 573 BBPP 58 (58) – – BTC Limited 27 – (13) 14 Hubei Cathay Smart Energy Fund 36 1 (1) 36 Other shares through fair value P&L (unit value < $50M) 1,103 (107) 6 1,002 Equity instruments recorded through fair value P&L 1,224 (164) (8) 1,052 TOTAL EQUITY INSTRUMENTS 2,007 (440) 58 1,625 As of As of As of December 31, 2020 January 1, Increase - Change in December 31, (M$) 2020 Decrease fair value 2020 Enphase Energy Inc 173 (251) 691 613 Tellurian Investments Inc. 207 (1) (149) 57 Other shares through fair value OCI (unit value < $50M) 126 (4) (9) 113 Equity instruments recorded through fair value OCI 506 (256) 533 783 BBPP 62 (4) – 58 BTC Limited 28 – (1) 27 Hubei Cathay Smart Energy Fund 15 21 – 36 Tas Helat Marketing Company (a) 108 (108) – – Other shares through fair value P&L (unit value < $50M) 1,059 63 (19) 1,103 Equity instruments recorded through fair value P&L 1,272 (28) (20) 1,224 TOTAL EQUITY INSTRUMENTS 1,778 (284) 513 2,007 (a) Tas Helat Marketing Company is a joint venture with SAUDI ARAMCO to develop the retail business. It was consolidated in 2020 (using the equity method). |
Schedule of main transactions and receivable and payable balances with related parties | As of December 31, (M$) 2022 2021 2020 Balance sheet Receivables Debtors and other debtors 1,231 809 545 Loans (excl. loans to equity accounted for affiliates) 184 113 89 Payables Creditors and other creditors 1,610 1,347 662 Debts 5 2 3 For the year ended December 31, (M$) 2022 2021 2020 Statement of income Sales 6,806 4,250 3,134 Purchases (25,656) (13,473) (7,183) Financial income 3 – 1 Financial expense (9) (8) (6) |
Schedule of affiliates direct and indirect compensation | For the year ended December 31, (M$) 2022 2021 2020 Number of people 11 11 11 Direct or indirect compensation 12.4 11.9 12.6 Pension expenses (a) 1.9 1.4 1.5 Share-based payments expense (IFRS 2) (b) 7.7 4.9 7.2 (a) The benefits provided for Executive Officers of the Company and the members of the Board of Directors, who are employees of the Company, include severance to be paid upon retirement, supplementary pension schemes and insurance plans, which represent a commitment of $64.3 million as of December 31, 2022 (against $90.7 million as of December 31, 2021 and $129.0 million as of December 31, 2020). Converted into Euros, this commitment amounts to €60.3 million as of December 31, 2022 (against €80.1 million as of December 31, 2021 and €105.2 million as of December 31, 2020). The decrease is related to the increase in discount rates. (b) Share-based payments expense computed for the Executive Officers and the members of the Board of Directors who are employees of TotalEnergies and based on the principles of IFRS 2 “Share-based payments” described in Note 9. The increase of the expense between 2021 and 2022 is mainly related to the increase in the TotalEnergies share price. |
Shareholders' equity and shar_2
Shareholders' equity and share-based payments (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Shareholders' equity and share-based payments | |
Summary of share cancellation | Percentage Number of shares bought back and cancelled of the share Board of Directors’ for the purpose of the shareholder policy capital Fiscal year decision date cancelled (a) 2022 February 9, 2022 30,665,526 shares bought back between November 8 and December 22, 2021 1.16 % 2021 February 8, 2021 23,284,409 shares bought back between October 31, 2019 and March 9, 2020 0.88 % 2020 n/a (b) (a) Percentage of the share capital that the cancelled shares represented on the operations’ date. (b) TotalEnergies SE did not cancel any shares in the fiscal year 2020. |
Schedule of variation of the number of shares composing the shares capital | AS OF DECEMBER 31, 2019 (a) 2,601,881,075 Deferred contribution pursuant to the 2015 capital increase reserved for employees 18,879 2020 Capital increase reserved for employees 13,160,383 Capital increase as payment of the scrip dividend (final 2019 dividend) 38,063,688 AS OF DECEMBER 31, 2020 (b) 2,653,124,025 Capital reduction by cancellation of treasury shares (23,284,409) 2021 Capital increase reserved for employees 10,589,713 AS OF DECEMBER 31, 2021 (c) 2,640,429,329 Capital reduction by cancellation of treasury shares (30,665,526) Deferred contribution pursuant to the 2017 capital increase reserved for employees 9,471 2022 Capital increase reserved for employees 9,358,011 AS OF DECEMBER 31, 2022 (d) 2,619,131,285 (a) Including 15,474,234 treasury shares deducted from consolidated shareholders’ equity. (b) Including 24,392,703 treasury shares deducted from consolidated shareholders’ equity. (c) Including 33,841,104 treasury shares deducted from consolidated shareholders’ equity. (d) Including 137,187,667 treasury shares deducted from consolidated shareholders’ equity. |
Schedule of ESOP completed by the company | Fiscal year 2022 2021 2020 Date of the ESOP June 8, 2022 June 9, 2021 June 11, 2020 By virtue of 17 th 20 th 18 th Subscriptions Number of shares subscribed 9,130,380 10,376,190 12,952,925 Subscription price 37.00 euros 30.50 euros 26.20 euros Free shares Number of shares granted 227,631 213,523 207,458 By virtue of 19 th Deferred contribution Number of shares granted – – 1,380 Number of beneficiaries – – 276 End of the acquisition period – – June 11, 2025 |
Schedule of treasury shares held by TotalEnergies SE | As of December 31, 2022 2021 2020 Number of treasury shares held by TotalEnergies SE 137,187,667 33,841,104 24,392,703 Percentage of share capital 5.24 % 1.28 % 0.92 % Of which shares acquired with the intention to cancel them 128,869,261 30,665,526 23,284,409 Of which shares allocated to TotalEnergies share performance plans 8,231,365 3,103,018 1,055,446 Of which shares intended to be allocated to new share performance or purchase options plans 87,041 72,560 52,848 |
Schedule of weighted-average shares and diluted shares used to calculate earnings per share and fully-diluted earnings per share | 2022 2021 2020 Number of shares as of January 1, 2,640,429,329 2,653,124,025 2,601,881,075 TotalEnergies shares held by TotalEnergies SE or by its subsidiaries and deducted from shareholders' equity (33,841,104) (24,392,703) (15,474,234) Evolution of the number of shares during the financial year pro-rated Final grant of TotalEnergies performance shares 5,152,336 3,810,430 2,154,064 Capital increase reserved for employees (a) 5,465,154 6,177,333 7,689,476 Capital increase as payment of the scrip dividend – – 17,445,857 Buyback of TotalEnergies treasury shares including: (62,498,318) (7,296,460) (11,669,489) Shares repurchased during the fiscal year to cancel the dilution caused by the scrip dividend payment and within the framework of the share buyback program (58,621,530) (3,762,794) (10,666,710) Shares repurchased during the fiscal year to cover for the performance share plans (3,876,788) (3,533,666) (1,002,779) WEIGHTED-AVERAGE NUMBER OF SHARES 2,554,707,397 2,631,422,625 2,602,026,749 Dilutive effect Grant of TotalEnergies performance shares 15,890,560 14,492,673 – Capital increase reserved for employees (a) 1,584,068 1,552,947 – WEIGHTED-AVERAGE NUMBER OF DILUTED SHARES AS OF DECEMBER 31, (b) 2,572,182,025 2,647,468,245 2,602,026,749 (a) Including the shares granted in consideration to the deferred contribution pursuant to the capital increase reserved for employees. (b) In 2020, the effect generated by the grant of TotalEnergies performance shares and by the capital increase reserved for employees (19,007,836 shares) is anti-dilutive. In accordance with IAS 33, the weighted-average number of diluted shares is therefore equal to the weighted-average number of shares. |
Summary of dividends | 2022 Dividend First interim Second interim Third interim Final Amount €0.69 €0.69 €0.69 €0.74 Set date April 27, 2022 July 27, 2022 October 26, 2022 February 7, 2023 Ex-dividend date September 21, 2022 January 2, 2023 March 22, 2023 June 21, 2023 Payment date October 3, 2022 January 12, 2023 April 3, 2023 July 3, 2023 Following its decisions of September 28, 2022, the Board of Directors of October 26, 2022 confirmed the distribution of a special interim dividend of €1 per share. This interim dividend has been detached on December 6, 2022 and paid in cash on December 16, 2022. Subject to the Shareholders’ decision on May 26, 2023, given the special interim dividend for the 2022 financial year already paid, this special dividend of €1 per share would not give rise to the payment of a balance. Special interim dividend Amount per share € Ex-dividend date December 6, 2022 Payment date December 16, 2022 |
Summary of the perpetual deeply subordinated notes | Perpetual deeply subordinated notes issues by TotalEnergies SE Outstanding amount in M€ as of: Date Amount issued (M€) Coupon (%) First call date December 31, 2022 December 31, 2021 December 31, 2020 January 17, 2022 1,000 2.000 % April 17, 2027 1,000 – – 750 3.250 % January 17, 2037 750 – – January 25, 2021 1,500 2.125 % January 25, 2033 1,500 1,500 – 1,500 1.625 % January 25, 2028 1,500 1,500 – September 4, 2020 1,000 2.000 % September 4, 2030 1,000 1,000 1,000 April 4, 2019 1,500 1.750 % April 4, 2024 1,500 1,500 1,500 October 6, 2016 1,500 3.369 % October 6, 2026 1,500 1,500 1,500 1,000 2.708 % May 5, 2023 1,000 1,000 1,000 May 18, 2016 1,750 3.875 % May 18, 2022 – 1,750 1,750 February 26, 2015 2,500 2.250 % February 26, 2021 – – 297 2,500 2.625 % February 26, 2025 2,500 2,500 2,500 TOTAL 12,250 12,250 9,547 |
Detail of other comprehensive income | For the year ended December 31, (M$) 2022 2021 2020 Actuarial gains and losses 574 1,035 (212) Change in fair value of investments in equity instruments 112 66 533 Tax effect (96) (411) 65 Currency translation adjustment generated by the parent company (4,976) (7,202) 7,541 Sub-total items not potentially reclassifiable to profit & loss (4,386) (6,512) 7,927 Currency translation adjustment 1,734 4,216 (4,645) – Unrealized gain/(loss) of the period 1,974 4,380 (4,607) – Less gain/(loss) included in net income 240 164 38 Cash flow hedge (5,452) 278 (313) – Unrealized gain/(loss) of the period (4,190) 109 (175) – Less gain/(loss) included in net income 1,262 (169) 138 Variation of foreign currency basis spread 65 2 28 – Unrealized gain/(loss) of the period 26 (47) (22) – Less gain/(loss) included in net income (39) (49) (50) Share of other comprehensive income of equity affiliates, net amount 3,497 706 (1,831) – Unrealized gain/(loss) of the period 1,071 626 (1,841) – Less gain/(loss) included in net income (2,426) (80) (10) Other (16) (1) (8) Tax effect 1,449 (135) 72 Sub-total items potentially reclassifiable to profit & loss 1,277 5,066 (6,697) TOTAL OTHER COMPREHENSIVE INCOME, NET AMOUNT (3,109) (1,446) 1,230 The currency translation adjustment by currency is detailed in the following table: As of December 31, 2022 Pound Other (M$) Total Euro sterling Ruble currencies Currency translation adjustment generated by the parent company (4,976) (4,976) – – – Currency translation adjustment 1,734 3,120 (592) 4 (798) Currency translation adjustment of equity affiliates 3,002 (1,076) 31 4,247 (200) TOTAL CURRENCY TRANSLATION ADJUSTMENT RECOGNIZED IN COMPREHENSIVE INCOME (240) (2,932) (561) 4,251 (998) As of December 31, 2021 Pound Other (M$) Total Euro sterling Ruble currencies Currency translation adjustment generated by the parent company (7,202) (7,202) – – – Currency translation adjustment 4,216 4,654 (180) (1) (257) Currency translation adjustment of equity affiliates 536 730 4 (27) (171) TOTAL CURRENCY TRANSLATION ADJUSTMENT RECOGNIZED IN COMPREHENSIVE INCOME (2,450) (1,818) (176) (28) (428) As of December 31, 2020 Pound Other (M$) Total Euro sterling Ruble currencies Currency translation adjustment generated by the parent company 7,541 7,541 – – – Currency translation adjustment (4,645) (4,668) 115 (12) (80) Currency translation adjustment of equity affiliates (1,657) (851) (11) (886) 91 TOTAL CURRENCY TRANSLATION ADJUSTMENT RECOGNIZED IN COMPREHENSIVE INCOME 1,239 2,022 104 (898) 11 Tax effects relating to each component of other comprehensive income are as follows: 2022 2021 2020 For the year ended December 31, Pre-tax Tax Net Pre-tax Tax Net Pre-tax Tax Net (M$) amount effect amount amount effect amount amount effect amount Actuarial gains and losses 574 (106) 468 1,035 (372) 663 (212) 47 (165) Change in fair value of investments in equity instruments 112 10 122 66 (39) 27 533 18 551 Currency translation adjustment generated by the parent company (4,976) – (4,976) (7,202) – (7,202) 7,541 – 7,541 Sub-total items not potentially reclassifiable to profit & loss (4,290) (96) (4,386) (6,101) (411) (6,512) 7,862 65 7,927 Currency translation adjustment 1,734 – 1,734 4,216 – 4,216 (4,645) – (4,645) Cash flow hedge (5,452) 1,466 (3,986) 278 (130) 148 (313) 79 (234) Variation of foreign currency basis spread 65 (17) 48 2 (5) (3) 28 (7) 21 Share of other comprehensive income of equity affiliates, net amount 3,497 – 3,497 706 – 706 (1,831) – (1,831) Other (16) – (16) (1) – (1) (8) – (8) Sub-total items potentially reclassifiable to profit & loss (172) 1,449 1,277 5,201 (135) 5,066 (6,769) 72 (6,697) TOTAL OTHER COMPREHENSIVE INCOME (4,462) 1,353 (3,109) (900) (546) (1,446) 1,093 137 1,230 |
Schedule of share-based payment expense | As of December 31, (M$) 2022 2021 2020 TotalEnergies performance shares plans 200 129 176 SunPower plans (a) 23 25 26 Capital increase reserved for employees 28 14 12 TOTAL 251 168 214 ( a) |
TotalEnergies performance share plans | |
Shareholders' equity and share-based payments | |
Summary of performance share plans and restricted stock activities | 2017 2018 2019 2020 2021 2022 Total Date of the Shareholders’ Meeting 5/24/2016 5/24/2016 6/1/2018 6/1/2018 6/1/2018 5/28/2021 Award date 7/26/2017 3/14/2018 3/13/2019 3/18/2020 5/28/2021 3/16/2022 Date of the final award (end of the vesting period) 7/27/2020 3/15/2021 3/14/2022 3/20/2023 5/29/2024 3/17/2025 Transfer authorized as from 7/28/2022 3/16/2023 3/15/2024 3/21/2025 5/30/2026 3/17/2025 Grant date IFRS 2 fair value 35.57 € 36.22 € 40.11 € 12.40 € 27.40 € 37.22 € Number of performance shares Outstanding as of January 1, 2020 5,607,859 6,028,435 6,407,643 – – – 18,043,937 Notified – – – 6,727,352 – – 6,727,352 Cancelled (1,313,687) (55,830) (44,289) (18,691) – – (1,432,497) Finally granted (4,294,172) (10,740) (10,890) (1,773) – – (4,317,575) Outstanding as of January 1, 2021 – 5,961,865 6,352,464 6,706,888 – – 19,021,217 Notified – – – – 6,764,548 – 6,764,548 Cancelled – (1,395,555) (58,578) (52,301) (31,118) – (1,537,552) Finally granted – (4,566,310) (4,810) (1,385) (690) – (4,573,195) Outstanding as of January 1, 2022 – – 6,289,076 6,653,202 6,732,740 – 19,675,018 Notified – – – – – 7,353,271 7,353,271 Cancelled – – (127,852) (65,561) (57,410) (27,690) (278,513) Finally granted – – (6,161,224) (12,680) (13,750) (8,000) (6,195,654) OUTSTANDING AS OF DECEMBER 31, 2022 – – – 6,574,961 6,661,580 7,317,581 20,554,122 |
Capital increase reserved for employees | |
Shareholders' equity and share-based payments | |
Schedule of assumptions used for valuation of the cost | For the year ended December 31, 2022 Date of the Board of Directors meeting that decided the issue September 15, 2021 Reference price (€) (a) 46.22 Subscription price (€) (b) 37.00 Number of shares issued (in millions) (c) 9.36 (a) Average of the closing prices of the TotalEnergies shares over the twenty trading sessions preceding April 27, 2022, being the date of the Chairman and CEO’s decision setting the opening date of the subscription period and the subscription price. (b) Reference price, reduced by a 20% discount and rounded off to the highest tenth of a euro. (c) Including the free shares issued. |
Payroll, staff and employee b_2
Payroll, staff and employee benefits obligations (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Payroll, staff and employee benefits obligations | |
Schedule of liabilities for employee benefits obligations | As of December 31, (M$) 2022 2021 2020 Pension benefits liabilities 1,308 1,966 3,111 Other benefits liabilities 467 633 700 Restructuring reserves (early retirement plans) 54 73 106 TOTAL 1,829 2,672 3,917 Net liabilities relating to assets held for sale – (1) 1 |
Schedule of fair value of the defined benefit obligation and plan assets | As of December 31, Pension benefits Other benefits (M$) 2022 2021 2020 2022 2021 2020 Change in benefit obligation Benefit obligation at beginning of year 11,777 13,591 12,285 633 700 742 Current service cost 202 247 244 15 17 19 Interest cost 195 164 217 12 8 11 Past service cost 27 (197) – 9 (1) – Settlements 5 3 (10) - – (3) Plan participants' contributions 17 17 10 1 – – Benefits paid (661) (704) (702) (22) (34) (27) Actuarial losses / (gains) (2,502) (734) 818 (155) (11) (89) Foreign currency translation and other (793) (610) 729 (25) (46) 47 Benefit obligation at year-end 8,267 11,777 13,591 467 633 700 Of which plans entirely or partially funded 7,806 11,143 12,830 - – – Of which plans not funded 461 634 761 467 633 700 Change in fair value of plan assets Fair value of plan assets at beginning of year (10,231) (10,580) (9,769) – – – Interest income (190) (146) (191) – – – Actuarial losses / (gains) 2,083 (290) (517) – – – Settlements 2 – 2 – – – Plan participants’ contributions (17) (17) (10) – – – Employer contributions (260) (303) (229) – – – Benefits paid 607 635 622 – – – Foreign currency translation and other 700 470 (488) – – – Fair value of plan assets at year-end (7,306) (10,231) (10,580) – – – UNFUNDED STATUS 961 1,546 3,011 467 633 700 Asset ceiling 46 41 36 – – – NET RECOGNIZED AMOUNT 1,007 1,587 3,047 467 633 700 Pension benefits and other benefits liabilities 1,308 1,966 3,111 467 633 700 Other non-current assets (301) (378) (65) – – – Net benefit liabilities relating to assets held for sale – (1) 1 – – – |
Schedule of benefit amounts recognized, estimated future payments and actuarial assumptions | For the year ended December 31, Pension benefits Other benefits (M$) 2022 2021 2020 2022 2021 2020 Current service cost 202 247 244 15 17 19 Past service cost 27 (197) – 9 (1) – Settlements 7 3 (7) – – (3) Net interest cost 5 18 25 12 8 11 Benefit amounts recognized on Profit & Loss 241 71 262 36 24 27 - Actuarial (Gains) / Losses * Effect of changes in demographic assumptions 1 (71) (12) (9) (8) (3) * Effect of changes in financial assumptions (2,617) (450) 773 (138) 2 (1) * Effect of experience adjustments 111 (214) 57 (8) (5) (85) * Actual return on plan assets 2,083 (294) (517) – – – - Effect of asset ceiling 3 5 – – – – Benefit amounts recognized on Equity (419) (1,024) 301 (155) (11) (89) TOTAL BENEFIT AMOUNTS RECOGNIZED ON COMPREHENSIVE INCOME (178) (953) 563 (119) 13 (62) Estimated future payments (M$) Pension benefits Other benefits 2023 586 25 2024 495 25 2025 504 25 2026 537 25 2027 589 25 2028-2032 3,059 121 Pension benefits Other benefits As of December 31, 2022 2021 2020 2022 2021 2020 Discount rate (weighted average for all regions) 4.39% 1.82% 1.28% 4.45% 1.83% 1.41% Of which Euro zone 3.70% 0.99% 0.52% 3.48% 1.05% 0.68% Of which United States 4.50% 3.00% 2.50% 4.50% 3.00% 2.50% Of which United Kingdom 4.75% 2.00% 1.50% – – – Inflation rate (weighted average for all regions) 2.91% 2.41% 2.06% – – – Of which Euro zone 2.49% 1.71% 1.24% – – – Of which United States 2.50% 2.50% 2.50% – – – Of which United Kingdom 3.25% 3.25% 3.00% – – – |
Schedule of asset allocation | Asset allocation Pension benefits as of December 31, 2022 2021 2020 Equity securities 26% 39% 25% Debt securities 46% 35% 45% Monetary 3% 1% 2% Annuity contracts 17% 17% 20% Real estate 8% 8% 8% |
Schedule of sensitivity analysis impact on benefit obligation | A 0.5% increase or decrease in discount rates – all other things being equal - would have the following approximate impact on the benefit obligation: (M$) 0.5% Increase 0.5% Decrease Benefit obligation as of December 31, 2022 (510) 623 A 0.5% increase or decrease in inflation rates – all other things being equal - would have the following approximate impact on the benefit obligation: (M$) 0.5% Increase 0.5% Decrease Benefit obligation as of December 31, 2022 303 (284) |
Schedule of personnel expenses and Group employees | For the year ended December 31, 2022 2021 2020 Personnel expenses Wages and salaries (including social charges) 9,002 9,207 8,908 TotalEnergies employees at December 31, France (DROM COM includ.) ● Management 14,130 13,903 14,016 ● Other 20,829 21,232 21,886 International ● Management 18,183 17,346 17,102 ● Other 48,137 48,828 52,472 TOTAL 101,279 101,309 105,476 |
Income taxes (Tables)
Income taxes (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Income taxes | |
Schedule of detailed income taxes | For the year ended December 31, (M$) 2022 2021 2020 Current income taxes (19,825) (8,158) (2,450) Deferred income taxes (2,417) (1,429) 2,132 TOTAL INCOME TAXES (22,242) (9,587) (318) |
Schedule of deferred tax balances, including balance sheet presentation and analysis of variation | As of December 31, (M$) 2022 2021 2020 Net operating losses and tax carry forwards 3,600 5,129 5,106 Employee benefits 409 586 1,004 Other temporary non-deductible provisions 8,813 8,235 9,068 Differences in depreciations (14,692) (15,233) (14,641) Other temporary tax deductions (4,102) (4,221) (3,847) NET DEFERRED TAX LIABILITY (5,972) (5,504) (3,310) As of December 31, (M$) 2022 2021 2020 Deferred tax assets 5,049 5,400 7,016 Deferred tax liabilities (11,021) (10,904) (10,326) NET AMOUNT (5,972) (5,504) (3,310) As of December 31, (M$) 2022 2021 2020 Opening balance (5,504) (3,310) (5,642) Deferred tax on income (2,417) (1,429) 2,132 Deferred tax on shareholders' equity (a) 1,353 (546) 137 Changes in scope of consolidation and others 218 (315) 76 Currency translation adjustment 378 96 (13) CLOSING BALANCE (5,972) (5,504) (3,310) (a) This amount includes mainly deferred taxes on actuarial gains and losses, current income taxes and deferred taxes for changes in fair value of investments inequity instruments, as well as deferred taxes related to the cash flow hedge (see Note 9 to the Consolidated Financial Statements). |
Reconciliation between provision for income taxes and pre-tax income | For the year ended December 31, (M$) 2022 2021 2020 Consolidated net income 21,044 16,366 (7,336) Income taxes 22,242 9,587 318 Pre-tax income 43,286 25,953 (7,018) French statutory tax rate 25.83% 28.41% 32.02% Theoretical tax charge (11,181) (7,373) 2,247 Difference between French and foreign income tax rates (9,625) (3,754) (1,109) Tax effect of equity in income (loss) of affiliates (489) 977 145 Permanent differences exponant (a) (676) 738 665 Adjustments on prior years income taxes 64 109 (31) Adjustments on deferred tax related to changes in tax rates (610) (119) (204) Variation of deferred tax assets not recognized 275 (165) (2,031) INCOME TAXES IN THE STATEMENT OF INCOME (22,242) (9,587) (318) (a) |
Schedule of net operating losses and carried forward tax credits by expiration and main countries | As of December 31, (M$) 2022 2021 2020 2021 69 2022 27 26 2023 4 1 7 2024 2 5 2 2025 (a) 4 25 1,643 2026 (b) 8 1,652 2027 and after 1,220 Unlimited 2,362 3,419 3,359 TOTAL 3,600 5,129 5,106 (a) 2025 and after for 2020. (b) 2026 and after for 2021. As of December 31, 2022 the schedule of deferred tax assets related to carried forward tax credits on net operating losses for the main countries is as follows: Tax As of December 31, 2022 United (M$) Australia States Canada France 2023 2024 2025 2026 32 2027 and after 326 812 Unlimited 820 581 487 TOTAL 820 907 843 487 |
Provisions and other non-curr_2
Provisions and other non-current liabilities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Provisions and other non-current liabilities | |
Schedule of provisions and other non-current liabilities, including analysis of changes | As of December 31, (M$) 2022 2021 2020 Litigations and accrued penalty claims 529 285 320 Provisions for environmental contingencies 751 812 960 Asset retirement obligations 13,110 14,976 15,368 Other non-current provisions 3,633 2,766 2,868 of which restructuring activities 282 506 293 of which financial risks related to non-consolidated and equity accounted for affiliates 1,582 265 134 of which contingency reserve on solar panels warranties (SunPower) – 83 82 Other non-current liabilities 3,379 1,430 1,409 TOTAL 21,402 20,269 20,925 Currency As of translation As of (M$) January, 1 Allowances Reversals adjustment Other December, 31 2022 20,269 2,724 (1,397) (834) 640 21,402 of which provisions for financial risks – 1,363 (15) – – – of which asset retirement obligations – 430 (418) – – – of which provisions for environmental contingencies – 97 (133) – – – of which provisions for restructuring of activities – 31 (230) – – – 2021 20,925 1,446 (1,560) (404) (138) 20,269 of which asset retirement obligations – 449 (527) – – – of which provisions for environmental contingencies – 43 (178) – – – of which provisions for restructuring of activities – 415 (178) – – – 2020 20,613 1,756 (1,378) 452 (518) 20,925 of which asset retirement obligations – 607 (519) – – – of which provisions for environmental contingencies – 217 (93) – – – of which provisions for restructuring of activities – 271 (135) – – – |
Schedule of changes in the asset retirement obligation | Spending on Currency As of Revision in New existing translation As of (M$) January 1, Accretion estimates obligations obligations adjustment Other December 31, 2022 14,976 430 (1,172) 198 (418) (663) (241) 13,110 2021 15,368 449 (109) 228 (527) (194) (239) 14,976 2020 14,492 607 526 87 (519) 284 (109) 15,368 |
Off balance sheet commitments_2
Off balance sheet commitments and lease contracts (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Off balance sheet commitments and lease contracts | |
Schedule of off balance sheet commitments and lease contracts | Maturity and installments As of December 31, 2022 Less than 1 Between 1 More than 5 (M$) Total year and 5 years years Non-current debt obligations net of hedging instruments (Note 15) 35,684 – 14,229 21,455 Current portion of non-current debt obligations net of hedging instruments (Note 15) 5,328 5,328 – – Lease obligations (Note 13.2) 9,714 1,437 3,872 4,405 Asset retirement obligations (Note 12) 13,110 521 1,497 11,092 Contractual obligations recorded in the balance sheet 63,836 7,286 19,598 36,952 Lease obligations for low value assets, short term contracts or not yet commenced (Note 13.2) 1,830 783 610 437 Purchase obligations 139,050 11,286 40,516 87,248 Contractual obligations not recorded in the balance sheet 140,880 12,069 41,126 87,685 TOTAL OF CONTRACTUAL OBLIGATIONS 204,716 19,355 60,724 124,637 Guarantees given to customs authorities 2,003 1,904 53 46 Guarantees given on borrowings 20,218 2,519 5,814 11,885 Guarantees related to sales of businesses 310 157 – 153 Guarantees of current liabilities 62 61 1 – Guarantees to customers / suppliers 23,757 3,539 2,275 17,943 Letters of credit 2,430 2,241 172 17 Other operating commitments 23,039 5,198 900 16,941 TOTAL OF OTHER COMMITMENTS GIVEN 71,819 15,619 9,215 46,985 Assets received as collateral (security interests) 45 14 10 21 Sales obligations 94,977 6,267 36,341 52,369 Other commitments received 25,650 19,261 2,817 3,572 TOTAL OF COMMITMENTS RECEIVED 120,672 25,542 39,168 55,962 Of which commitments given relating to joint ventures 32,054 2,006 5,666 24,382 Of which commitments given relating to associates 52,270 839 11,638 39,793 Maturity and installments As of December 31, 2021 Less than 1 Between 1 More than 5 (M$) Total year and 5 years years Non-current debt obligations net of hedging instruments (Note 15) 40,311 – 16,811 23,500 Current portion of non-current debt obligations net of hedging instruments (Note 15) 5,073 5,073 – – Lease obligations (Note 13.2) 9,034 1,390 3,321 4,323 Asset retirement obligations (Note 12) 14,976 610 1,751 12,615 Contractual obligations recorded in the balance sheet 69,394 7,073 21,883 40,438 Lease obligations for low value assets, short term contracts or not yet commenced (Note 13.2) 1,679 689 543 447 Purchase obligations 136,032 13,333 36,174 86,525 Contractual obligations not recorded in the balance sheet 137,711 14,022 36,717 86,972 TOTAL OF CONTRACTUAL OBLIGATIONS 207,105 21,095 58,600 127,410 Guarantees given to customs authorities 2,236 2,122 50 64 Guarantees given on borrowings 20,428 595 3,734 16,099 Guarantees related to sales of businesses 316 163 – 153 Guarantees of current liabilities 70 69 1 – Guarantees to customers / suppliers 23,494 3,093 4,376 16,025 Letters of credit 2,993 2,869 122 2 Other operating commitments 21,138 3,058 1,594 16,486 TOTAL OF OTHER COMMITMENTS GIVEN 70,675 11,969 9,877 48,829 Assets received as collateral (security interests) 62 37 16 9 Sales obligations 92,555 7,565 33,271 51,719 Other commitments received 22,326 17,285 1,755 3,286 TOTAL OF COMMITMENTS RECEIVED 114,943 24,887 35,042 55,014 Of which commitments given relating to joint ventures 33,373 253 7,353 25,767 Of which commitments given relating to associates 34,491 727 9,110 24,654 Maturity and installments As of December 31, 2020 Less than 1 Between 1 More than 5 (M$) Total year and 5 years years Non-current debt obligations net of hedging instruments (Note 15) 48,705 – 22,745 25,960 Current portion of non-current debt obligations net of hedging instruments (Note 15) 4,674 4,674 – – Lease obligations (Note 13.2) 8,943 1,207 3,178 4,558 Asset retirement obligations (Note 12) 15,368 463 1,840 13,065 Contractual obligations recorded in the balance sheet 77,690 6,344 27,763 43,583 Lease obligations for low value assets, short term contracts or not yet commenced (Note 13.2) 1,745 704 626 415 Purchase obligations 143,177 11,719 39,126 92,332 Contractual obligations not recorded in the balance sheet 144,922 12,423 39,752 92,747 TOTAL OF CONTRACTUAL OBLIGATIONS 222,612 18,767 67,515 136,330 Guarantees given to customs authorities 2,312 2,189 60 63 Guarantees given on borrowings 14,164 746 3,660 9,758 Guarantees related to sales of businesses 333 179 – 154 Guarantees of current liabilities 147 68 56 23 Guarantees to customers / suppliers 19,182 2,603 1,853 14,726 Letters of credit 2,432 2,297 135 – Other operating commitments 23,879 3,224 3,002 17,653 TOTAL OF OTHER COMMITMENTS GIVEN 62,449 11,306 8,766 42,377 Assets received as collateral (security interests) 77 28 24 25 Sales obligations 80,521 7,001 29,362 44,158 Other commitments received 20,401 15,270 1,474 3,657 TOTAL OF COMMITMENTS RECEIVED 100,999 22,299 30,860 47,840 Of which commitments given relating to joint ventures 34,920 644 7,288 26,988 Of which commitments given relating to associates 51,795 999 8,664 42,132 |
Schedule of future minimum lease payments on leases | For the year ended December 31, 2022 Leases recorded in (M$) Exempted contracts balance sheet 2023 783 2,189 2024 190 1,646 2025 154 1,255 2026 137 1,140 2027 129 993 2028 and beyond 437 6,053 Total minimum payments 1,830 13,276 Less financial expenses (3,562) Nominal value of contracts 9,714 Less current portion of lease contracts (note 15) (1,437) Non-current lease liabilities 8,277 For the year ended December 31, 2021 Leases recorded in (M$) Exempted contracts balance sheet 2022 689 1,835 2023 194 1,347 2024 136 1,199 2025 111 1,097 2026 102 1,021 2027 and beyond 447 6,017 Total minimum payments 1,679 12,516 Less financial expenses (3,482) Nominal value of contracts 9,034 Less current portion of lease contracts (note 15) (1,390) Non-current lease liabilities 7,644 For the year ended December 31, 2020 Leases recorded in (M$) Exempted contracts balance sheet 2021 704 1,659 2022 252 1,366 2023 159 1,117 2024 118 1,022 2025 97 964 2026 and beyond 415 6,325 Total minimum payments 1,745 12,453 Less financial expenses (3,510) Nominal value of contracts 8,943 Less current portion of lease contracts (note 15) (1,207) Non-current lease liabilities 7,736 |
Financial assets and liabilit_2
Financial assets and liabilities analysis per instrument class and strategy (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Financial assets and liabilities analysis per instrument class and strategy | |
Schedule of financial assets and liabilities disclosed in the balance sheet | The financial assets and liabilities disclosed in the balance sheet are detailed as follows: As of December 31, 2022 Other (M$) Fair value through Comprehensive Fair value of bonds Assets / (Liabilities) Amortized cost P&L Income hedging instruments Total Fair value Equity affiliates: loans 3,733 – – – 3,733 3,733 Other investments – 932 119 – 1,051 1,051 Non-current financial assets 1,428 490 – 813 2,731 2,731 Other non-current assets 2,087 – – – 2,087 2,087 Accounts receivable, net (b) 24,378 – – – 24,378 24,378 Other operating receivables 8,069 19,529 691 – 28,289 28,289 Current financial assets 7,536 1,071 137 2 8,746 8,746 Cash and cash equivalents 33,026 – – – 33,026 33,026 Total financial assets 80,257 22,022 947 815 104,041 104,041 Total non-financial assets – – – – 199,823 – TOTAL ASSETS – – – – 303,864 – Non-current financial debt (a) (41,235) (283) – (3,746) (45,264) (43,471) Accounts payable (b) (41,346) – – – (41,346) (41,346) Other operating liabilities (16,412) (17,994) (780) – (35,186) (35,186) Current borrowings (a) (15,502) – – – (15,502) (15,518) Other current financial liabilities – (226) – (262) (488) (488) Total financial liabilities (114,495) (18,503) (780) (4,008) (137,786) (136,009) Total non-financial liabilities – – – – (166,078) – TOTAL LIABILITIES – – – – (303,864) – (a) The financial debt is adjusted to the hedged risks value (currency and interest rate) as part of hedge accounting (see Note 15 to the Consolidated Financial Statements). (b) The impact of offsetting on accounts receivable, net is $(10,156) million and $10,156 million on accounts payable . As of December 31, 2021 Other (M$) Fair value through Comprehensive Fair value of bonds Assets / (Liabilities) Amortized cost P&L Income hedging instruments Total Fair value Equity affiliates: loans 4,532 – – – 4,532 4,532 Other investments – 1,052 573 – 1,625 1,625 Non-current financial assets 847 770 – 787 2,404 2,404 Other non-current assets 2,419 – – – 2,419 2,419 Accounts receivable, net (b) 21,983 – – – 21,983 21,983 Other operating receivables 7,141 21,067 1,345 – 29,553 29,553 Current financial assets 12,001 272 – 42 12,315 12,315 Cash and cash equivalents 21,342 – – – 21,342 21,342 Total financial assets 70,265 23,161 1,918 829 96,173 96,173 Total non-financial assets 197,285 TOTAL ASSETS 293,458 Non-current financial debt (a) (47,973) (41) – (1,498) (49,512) (53,144) Accounts payable (b) (36,837) – – – (36,837) (36,837) Other operating liabilities (11,128) (15,266) (900) – (27,294) (27,294) Current borrowings (a) (15,035) – – – (15,035) (15,039) Other current financial liabilities – (56) – (316) (372) (372) Total financial liabilities (110,973) (15,363) (900) (1,814) (129,050) (132,686) Total non-financial liabilities (164,408) TOTAL LIABILITIES (293,458) (a) The financial debt is adjusted to the hedged risks value (currency and interest rate) as part of hedge accounting (see Note 15 to the Consolidated Financial Statements). (b) The impact of offsetting on accounts receivable, net is $(4,584) million and $4,584 million on accounts payable . As of December 31, 2020 Other (M$) Fair value through Comprehensive Fair value of bonds Assets / (Liabilities) Amortized cost P&L Income hedging instruments Total Fair value Equity affiliates: loans 5,129 – – – 5,129 5,129 Other investments – 1,224 783 – 2,007 2,007 Non-current financial assets 1,019 541 – 3,221 4,781 4,781 Other non-current assets 2,745 – – – 2,745 2,745 Accounts receivable, net (b) 14,068 – – – 14,068 14,068 Other operating receivables 6,615 1,428 – – 8,043 8,043 Current financial assets 4,547 65 – 18 4,630 4,630 Cash and cash equivalents 31,268 – – – 31,268 31,268 Total financial assets 65,391 3,258 783 3,239 72,671 72,671 Total non-financial assets 193,461 TOTAL ASSETS 266,132 Non-current financial debt (a) (58,470) (118) – (1,615) (60,203) (66,210) Accounts payable (b) (23,574) – – – (23,574) (23,574) Other operating liabilities (10,635) (3,666) – (1) (14,302) (14,302) Current borrowings (a) (17,099) – – – (17,099) (17,121) Other current financial liabilities – (99) – (104) (203) (203) Total financial liabilities (109,778) (3,883) – (1,720) (115,381) (121,410) Total non-financial liabilities (150,751) TOTAL LIABILITIES (266,132) (a) The financial debt is adjusted to the hedged risks value (currency and interest rate) as part of hedge accounting (see Note 15 to the Consolidated Financial Statements). (b) The impact of offsetting on accounts receivable, net is $(1,844) million and $1,844 million on accounts payable . |
Financial structure and finan_2
Financial structure and financial costs (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Financial structure, financial costs and financial instruments | |
Schedule of non-current financial debt and related financial instruments | As of December 31, 2022 (M$) (Assets) / Liabilities Secured Unsecured Total Non-current financial debt 8,329 36,935 45,264 of which hedging instruments of non-current financial debt (liabilities) – 3,746 3,746 Non-current financial assets (1,428) (1,303) (2,731) of which hedging instruments of non-current financial debt (assets) – (813) (813) NON-CURRENT NET FINANCIAL DEBT AND RELATED FINANCIAL INSTRUMENTS 6,901 35,632 42,533 Variable rate bonds or bonds after fair value hedge – 8,958 8,958 Fixed rate bonds or bonds after cash flow hedge – 26,159 26,159 Other floating rate debt 13 227 240 Other fixed rate debt 39 496 535 Lease obligations 8,277 – 8,277 Non-current financial assets excluding derivative financial instruments (1,428) – (1,428) Non-current instruments held for trading – (208) (208) NON-CURRENT NET FINANCIAL DEBT AND RELATED FINANCIAL INSTRUMENTS 6,901 35,632 42,533 As of December 31, 2021 (M$) (Assets) / Liabilities Secured Unsecured Total Non-current financial debt 7,720 41,792 49,512 of which hedging instruments of non-current financial debt (liabilities) – 1,498 1,498 Non-current financial assets (847) (1,557) (2,404) of which hedging instruments of non-current financial debt (assets) – (787) (787) NON-CURRENT NET FINANCIAL DEBT AND RELATED FINANCIAL INSTRUMENTS 6,873 40,235 47,108 Variable rate bonds or bonds after fair value hedge – 12,820 12,820 Fixed rate bonds or bonds after cash flow hedge – 27,147 27,147 Other floating rate debt 15 634 649 Other fixed rate debt 61 363 424 Lease obligations 7,644 – 7,644 Non-current financial assets excluding derivative financial instruments (847) (675) (1,522) Non-current instruments held for trading – (54) (54) NON-CURRENT NET FINANCIAL DEBT AND RELATED FINANCIAL INSTRUMENTS 6,873 40,235 47,108 As of December 31, 2020 (M$) (Assets) / Liabilities Secured Unsecured Total Non-current financial debt 7,849 52,354 60,203 of which hedging instruments of non-current financial debt (liabilities) – 1,615 1,615 Non-current financial assets (1,019) (3,762) (4,781) of which hedging instruments of non-current financial debt (assets) – (3,221) (3,221) NON-CURRENT NET FINANCIAL DEBT AND RELATED FINANCIAL INSTRUMENTS 6,830 48,592 55,422 Variable rate bonds or bonds after fair value hedge – 16,553 16,553 Fixed rate bonds or bonds after cash flow hedge – 28,080 28,080 Other floating rate debt 40 3,944 3,984 Other fixed rate debt 73 438 511 Lease obligations 7,736 – 7,736 Non-current financial assets excluding derivative financial instruments (1,019) (432) (1,451) Non-current instruments held for trading – 9 9 NON-CURRENT NET FINANCIAL DEBT AND RELATED FINANCIAL INSTRUMENTS 6,830 48,592 55,422 |
Schedule of fair value of bonds after taking into account currency and interest rates swaps | Amount Amount Amount Bonds after fair value hedge or after after after Range Range of initial current rate variable rate bonds (a) Currency of December 31, December 31, December 31, of current before hedging (M$) issuance 2022 2021 2020 maturities instruments Bond USD 5,042 5,001 6,253 2023-2028 2.434% - 3.883 % Bond USD – – – Bond CHF 407 409 410 2026 - 2029 0.176% - 0.298 % Bond NZD – – – Bond AUD 71 71 377 2025 4.000 % Bond EUR 5,574 7,528 8,666 2023 - 2044 0.250% - 3.125 % Bond EUR – – – Bond CAD – – – Bond GBP 925 1,524 1,522 2025 - 2031 1.405% - 2.250 % Bond HKD 129 129 129 2025 2.920 % Current portion (less than one year) (3,890) (2,540) (2,699) Principal financing entities (b) 8,258 12,122 14,658 TotalEnergies SE (c) Bond – 1,200 1,200 Current portion (less than one year) – (1,200) – Other consolidated subsidiaries 700 698 695 TOTAL VARIABLE RATE BONDS OR BONDS AFTER FAIR VALUE HEDGE 8,958 12,820 16,553 Amount Amount Amount Bonds after cash flow hedge or after after after Range Range of initial current rate fixed rate bonds Currency of December 31, December 31, December 31, of current before hedging (M$) issuance 2022 2021 2020 maturities instruments Bond EUR 15,628 15,487 15,259 2024 - 2044 0.696 % - 5.125 % Bond USD 8,783 9,941 11,524 2023 - 2060 2.829% - 3.461 % Bond HKD 187 200 208 2026 3.088 % Bond CHF 1,076 1,113 1,134 2024 - 2027 0.510% - 1.010 % Bond GBP 985 1,004 998 2024 - 2026 1.250% - 1.660 % Bond AUD (2) 5 9 2025 4.000 % Current portion (less than one year) (500) (1,000) (1,500) Principal financing entities (b) 26,157 26,750 27,632 Other consolidated subsidiaries 2 397 448 TOTAL FIXED RATE BONDS OR BONDS AFTER CASH FLOW HEDGE 26,159 27,147 28,080 (a) The IBOR rate reform will mainly impact the bonds after fair value hedge, on principal financing entities and TotalEnergies SE, indexed on the USLIBOR rate. At December 31, 2022, the amount of the bonds after fair value hedge (both non-current and current portions) on principal financing entities and TotalEnergies SE is $ 12,148 million. (b) All debt securities issued through the following subsidiaries are fully and unconditionally guaranteed by TotalEnergies SE as to payment of principal, premium, if any, interest and any other amounts due: - TotalEnergies Capital is a wholly and directly owned subsidiary of TotalEnergies SE (except for one share held by each director). It acts as a financing vehicle for TotalEnergies. The repayment of its financial debt (capital, premium and interest) is fully and unconditionally guaranteed by TotalEnergies SE. - TotalEnergies Capital Canada Ltd. is a wholly and directly owned subsidiary of TotalEnergies SE. It acts as a financing vehicle for the activities of TotalEnergies in Canada. The repayment of its financial debt (capital, premium and interest) is fully and unconditionally guaranteed by TotalEnergies SE. - TotalEnergies Capital International is a wholly and directly owned subsidiary of TotalEnergies SE (except for one share held by each director). It acts as a financing vehicle for TotalEnergies. The repayment of its financial debt (capital, premium and interest) is fully and unconditionally guaranteed by TotalEnergies SE. |
Schedule of loan repayment schedule (excluding current portion) | of which hedging of which hedging instruments instruments Non-current net As of December 31, of non ‑ current Non-current of non-current financial debt and 2022 Non ‑ current financial debt financial financial debt related financial (M$) financial debt (liabilities) assets (assets) instruments % 2024 7,251 399 (899) (56) 6,352 15 % 2025 4,701 552 (259) (168) 4,442 10 % 2026 3,465 467 (194) (107) 3,271 8 % 2027 3,522 217 (104) (17) 3,418 8 % 2028 and beyond 26,325 2,111 (1,275) (465) 25,050 59 % TOTAL 45,264 3,746 (2,731) (813) 42,533 100 % of which hedging of which hedging instruments instruments Non-current net As of December 31, of non ‑ current Non-current of non-current financial debt and 2021 Non ‑ current financial debt financial financial debt related financial (M$) financial debt (liabilities) assets (assets) instruments % 2023 6,143 115 (111) (51) 6,032 13 % 2024 6,506 190 (219) (103) 6,287 13 % 2025 4,471 194 (89) (51) 4,382 9 % 2026 3,348 238 (71) (34) 3,277 7 % 2027 and beyond 29,044 761 (1,914) (548) 27,130 58 % TOTAL 49,512 1,498 (2,404) (787) 47,108 100 % of which hedging of which hedging instruments instruments Non-current net As of December 31, of non ‑ current Non-current of non-current financial debt and 2020 Non ‑ current financial debt financial financial debt related financial (M$) financial debt (liabilities) assets (assets) instruments % 2022 9,932 142 (142) (58) 9,790 18 % 2023 5,988 59 (268) (218) 5,720 10 % 2024 6,340 115 (395) (277) 5,945 11 % 2025 4,535 150 (260) (212) 4,275 8 % 2026 and beyond 33,408 1,149 (3,716) (2,456) 29,692 53 % TOTAL 60,203 1,615 (4,781) (3,221) 55,422 100 % |
Schedule of analysis by currency and interest rate | As of December 31, (M$) 2022 % 2021 % 2020 % U.S. Dollar 38,896 91 % 44,387 94 % 48,609 88 % Euro 2,083 5 % 1,708 4 % 3,144 6 % Norwegian krone 47 0 % 67 0 % 72 0 % Other currencies 1,507 4 % 946 2 % 3,597 6 % TOTAL 42,533 100 % 47,108 100 % 55,422 100 % As of December 31, (M$) 2022 % 2021 % 2020 % Fixed rate 33,533 79 % 34,353 73 % 34,870 63 % Floating rate 9,000 21 % 12,755 27 % 20,552 37 % TOTAL 42,533 100 % 47,108 100 % 55,422 100 % |
Schedule of current financial assets and liabilities | As of December 31, (M$) (Assets) / Liabilities 2022 2021 2020 Current financial debt (a) 8,997 8,846 11,305 Current lease obligations 1,437 1,390 1,206 Current portion of non-current financial debt 5,068 4,799 4,588 Current borrowings (note 14) 15,502 15,035 17,099 Current portion of hedging instruments of debt (liabilities) 262 316 104 Other current financial instruments (liabilities) 226 56 99 Other current financial liabilities (note 14) 488 372 203 Current deposits beyond three months (8,127) (11,868) (4,436) Non-traded marketable securities (218) (195) – Financial receivables on sub-lease, current (190) (132) (111) Current portion of hedging instruments of debt (assets) (2) (42) (18) Other current financial instruments (assets) (209) (78) (65) Current financial assets (note 14) (8,746) (12,315) (4,630) NET CURRENT BORROWINGS 7,244 3,092 12,672 (a) As of December 31, 2022, December 31, 2021 and December 31, 2020, current financial debt includes notably short-term negotiable debt security issued through programs fully and unconditionally secured by TotalEnergies SE. |
Schedule of variations of financial debt | Non-cash changes As of Change in scope, Reclassification As of January 1, Cash including IFRS 5 Foreign Changes in Non-current / December 31, (M$) 2022 changes reclassification currency fair value Current Other 2022 Non-current financial instruments - assets (a) and non-current financial assets (2,404) – 24 52 (448) 198 (153) (2,731) Non-current financial debt 49,512 1,108 (696) (225) 175 (6,981) 2,371 45,264 Non-current financial debt and related financial instruments 47,108 1,108 (672) (173) (273) (6,783) 2,218 42,533 Current financial instruments - assets (a) (252) 264 – 6 (97) (198) (124) (401) Current borrowings 15,035 (6,337) (316) (106) (69) 6,981 314 15,502 Current financial instruments - liabilities (a) 372 – – (9) 125 – – 488 Current financial debt and related financial instruments 15,155 (6,073) (316) (109) (41) 6,783 190 15,589 Financial debt and financial assets classified as held for sale (4) – (34) – – – – (38) NET FINANCIAL DEBT 62,259 (4,965) (1,022) (282) (314) – 2,408 58,084 (a) Fair value or cash flow hedge instruments and other non-hedge debt-related derivative instruments. Non-cash changes As of Change in scope, Reclassification As of January 1, Cash including IFRS 5 Foreign Changes in Non-current / December 31, (M$) 2021 changes reclassification currency fair value Current other 2021 Non-current financial instruments - assets (a) and non-current financial assets (4,781) (290) 1 64 2,432 188 (18) (2,404) Non-current financial debt 60,203 (359) (58) (183) (2,377) (9,254) 1,540 49,512 Non-current financial debt and related financial instruments 55,422 (649) (57) (119) 55 (9,066) 1,522 47,108 Current financial instruments - assets (a) (194) 191 - 8 (45) (188) (24) (252) Current borrowings 17,099 (11,047) 15 (283) (158) 9,254 155 15,035 Current financial instruments - liabilities (a) 203 - 1 (11) 179 - – 372 Current financial debt and related financial instruments 17,108 (10,856) 16 (286) (24) 9,066 131 15,155 Financial debt and financial assets classified as held for sale 313 - (306) (11) – – – (4) Net financial debt 72,843 (11,505) (347) (416) 31 – 1,653 62,259 (a) Fair value or cash flow hedge instruments and other non-hedge debt-related derivative instruments. Non-cash changes As of Change in scope, Reclassification As of January 1, Cash including IFRS 5 Foreign Changes in Non-current / December 31, (M$) 2020 changes reclassification currency fair value Current other 2020 Non-current financial instruments - assets (a) (912) (228) 3 (59) (2,729) 118 (974) (4,781) Non-current financial debt 47,773 15,800 (456) 192 2,973 (8,711) 2,632 60,203 Non-current financial debt and related financial instruments 46,861 15,572 (453) 133 244 (8,593) 1,658 55,422 Current financial instruments - assets (a) (268) 178 – (6) 46 (118) (26) (194) Current borrowings 14,819 (6,679) 6 (132) 188 8,711 186 17,099 Current financial instruments - liabilities (a) 487 – (5) 8 (287) – – 203 Current financial debt and related financial instruments 15,038 (6,501) 1 (130) (53) 8,593 160 17,108 Financial debt and financial assets classified as held for sale 301 – (10) 22 – – – 313 NET FINANCIAL DEBT 62,200 9,071 (462) 25 191 – 1,818 72,843 |
Schedule of monetary changes in non-current financial debt | For the year ended December 31, (M$) 2022 2021 2020 Issuance of non-current debt 1,148 808 16,075 Repayment of non-current debt (40) (1,167) (275) NET AMOUNT 1,108 (359) 15,800 |
Schedule of cash and cash equivalents | For the year ended December 31, (M$) 2022 2021 2020 Cash 14,873 13,544 14,518 Cash equivalents 18,153 7,798 16,750 TOTAL 33,026 21,342 31,268 |
Schedule of net-debt-to-equity ratio | As of December 31, (M$) (Assets) / Liabilities 2022 2021 2020 Current borrowings (a) 14,065 13,645 15,893 Other current financial liabilities 488 372 203 Current financial assets (a) (8,556) (12,183) (4,519) Net financial assets and liabilities held for sale or exchange (38) (4) 313 Non-current financial debt (a) 36,987 41,868 52,467 Non-current financial assets (a) (1,303) (1,557) (3,762) Cash and cash equivalents (33,026) (21,342) (31,268) Net financial debt 8,617 20,799 29,327 Shareholders’ equity – TotalEnergies share 111,724 111,736 103,702 Distribution of the income based on existing shares at the closing date 2,846 3,263 2,383 Shareholders’ equity 114,570 114,999 106,085 NET-DEBT-TO-CAPITAL RATIO EXCLUDING LEASES 7.0 % 15.3 % 21.7 % |
Hedging of financial debt (Fair value hedge) | |
Financial structure, financial costs and financial instruments | |
Schedule of hedging instruments and items | For the year ended December 31, 2022 (M$) Cumulative FVH Nominal adjustments included amount of Carrying amount of Carrying amount of in the carrying amount Line items in the Hedging hedging hedging instruments hedged items of the hedged items statement of Hedged items instruments instruments Assets Liabilities Assets Liabilities Assets Liabilities financial position Interest Rate Financial debt / Bonds Swaps 5,000 – (151) – (4,892) – 108 Financial assets Cross Currency Financial debt / Bonds Swaps 7,029 – (1,124) – (5,982) – 1,047 Financial assets End of hedging (before 2018) – – – – – – (8) For the year ended December 31, 2021 (M$) Cumulative FVH Nominal adjustments included amount of Carrying amount of Carrying amount of in the carrying amount Line items in the Hedging hedging hedging instruments hedged items of the hedged items statement of Hedged items instruments instruments Assets Liabilities Assets Liabilities Assets Liabilities financial position Bonds Interest Rate Financial debt / Swaps 6,767 303 (36) – (7,037) – (837) Financial assets Bonds Cross Currency Financial debt / Swaps 9,566 154 (382) – (8,865) – 701 Financial assets End of hedging (before 2018) – – – – – – (27) For the year ended December 31, 2020 Cumulative FVH (M$) Nominal adjustments included amount of Carrying amount of Carrying amount of in the carrying amount Line items in the Hedging hedging hedging instruments hedged items of the hedged items statement of Hedged items instruments instruments Assets Liabilities Assets Liabilities Assets Liabilities financial position Bonds Interest Rate 8,063 527 (15) – (8,586) – (1,136) Financial debt / Financial assets Bonds Cross Currency 11,011 836 (211) – (11,109) – (98) Financial debt / Financial assets End of hedging (before 2018) – – – – – – (47) |
Cash flow hedge | |
Financial structure, financial costs and financial instruments | |
Schedule of hedging instruments | Nominal Nature of amount of Carrying amount of Line items in the For the year ended December 31, 2022 hedging hedging hedging instruments statement of (M$) instruments instruments Assets Liabilities financial position Interest Rate Financial debt / Bonds Swaps 12,782 815 (2) Financial assets Cross Currency Financial debt / Bonds Swaps 17,511 – (2,731) Financial assets Nominal Nature of amount of Carrying amount of Line items in the For the year ended December 31, 2021 hedging hedging hedging instruments statement of (M$) instruments instruments Assets Liabilities financial position Interest Rate Financial debt / Bonds Swaps 12,782 – (736) Financial assets Cross Currency Financial debt / Bonds Swaps 17,511 372 (660) Financial assets Nominal Nature of amount of Carrying amount of Line items in the For the year ended December 31, 2020 hedging hedging hedging instruments statement of (M$) instruments instruments Assets Liabilities financial position Interest Rate Financial debt / Bonds Swaps 12,781 – (1,441) Financial assets Cross Currency Financial debt / Bonds Swaps 17,511 1,856 (32) Financial assets |
Interest rate risk | |
Financial structure, financial costs and financial instruments | |
Schedule of sensitivity analysis on interest rate and foreign exchange risk | Change in fair value due to a change in interest rate by Assets / (Liabilities) Carrying Estimated + 10 basis - 10 basis (M$) amount fair value points points As of December 31, 2022 Bonds (non-current portion, before swaps) (32,184) (30,391) 210 (210) Swaps hedging bonds (liabilities) (3,746) (3,746) – – Swaps hedging bonds (assets) 813 813 – – Total swaps hedging bonds (assets and liabilities) (2,933) (2,933) (9) 9 Current portion of non-current debt after swaps (excluding lease obligations) (5,328) (5,344) 3 (3) Other interest rates swaps 281 281 10 (10) Currency swaps and forward exchange contracts (68) (68) – – As of December 31, 2021 Bonds (non-current portion, before swaps) (39,256) (42,888) 349 (349) Swaps hedging bonds (liabilities) (1,498) (1,498) – – Swaps hedging bonds (assets) 787 787 – – Total swaps hedging bonds (assets and liabilities) (711) (711) (34) 34 Current portion of non-current debt after swaps (excluding lease obligations) (5,073) (5,077) 5 (5) Other interest rates swaps 31 31 16 (16) Currency swaps and forward exchange contracts 45 45 – – As of December 31, 2020 Bonds (non-current portion, before swaps) (46,239) (52,246) 440 (440) Swaps hedging bonds (liabilities) (1,615) (1,615) – – Swaps hedging bonds (assets) 3,221 3,221 – – Total swaps hedging bonds (assets and liabilities) 1,606 1,606 (70) 70 Current portion of non-current debt after swaps (excluding lease obligations) (4,674) (4,696) 2 (2) Other interest rates swaps (73) (73) 18 (18) Currency swaps and forward exchange contracts (6) (6) – – The impact of changes in interest rates on the cost of debt before tax is as follows: For the year ended December 31, (M$) 2022 2021 2020 Cost of net debt (1,243) (1,525) (2,110) Interest rate translation of : + 10 basis points 18 47 29 ‑10 basis points (18) (47) (29) |
Foreign exchange risk | |
Financial structure, financial costs and financial instruments | |
Schedule of sensitivity analysis on interest rate and foreign exchange risk | Dollar / Euro exchange Dollar / Pound sterling Dollar / Ruble exchange rates exchange rates rates December 31, 2022 0.94 0.83 74.01 December 31, 2021 0.88 0.74 75.31 December 31, 2020 0.81 0.73 74.54 As of December 31, 2022 Pound Other (M$) Total Euro Dollar sterling Ruble currencies Shareholders’ equity at historical exchange rate 124,560 15,835 88,902 6,258 45 13,520 Currency translation adjustment before net investment hedge (12,831) (7,170) – (2,463) (30) (3,168) Net investment hedge – open instruments (5) (5) – – – – Shareholders’ equity at exchange rate as of December 31, 2022 111,724 8,660 88,902 3,795 15 10,352 As of December 31, 2021 Pound Other (M$) Total Euro Dollar sterling Ruble currencies Shareholders’ equity at historical exchange rate 124,407 24,617 70,030 6,064 10,596 13,100 Currency translation adjustment before net investment hedge (12,666) (4,239) – (1,902) (4,281) (2,244) Net investment hedge – open instruments (5) (5) – – – – Shareholders’ equity at exchange rate as of December 31, 2021 111,736 20,373 70,030 4,162 6,315 10,856 As of December 31, 2020 Pound Other (M$) Total Euro Dollar sterling Ruble currencies Shareholders’ equity at historical exchange rate 113,958 28,893 60,613 4,494 9,913 10,045 Currency translation adjustment before net investment hedge (10,279) (2,448) – (1,726) (4,253) (1,852) Net investment hedge – open instruments 23 23 – – – – Shareholders’ equity at exchange rate as of December 31, 2020 103,702 26,468 60,613 2,768 5,660 8,193 Based on the 2022 financial statements, a conversion using rates different from + or - 10% for each of the currencies below would have the following impact on shareholders equity and net income (TotalEnergies share): As of December 31, 2022 Pound (M$) Euro sterling Ruble Impact of an increase of 10% of exchange rates on : – shareholders equity 866 380 2 – net income (TotalEnergies share) (150) 275 (581) Impact of a decrease of (10)% of exchange rates on : – shareholders equity (866) (380) (2) – net income (TotalEnergies share) 150 (275) 581 |
Liquidity risk | |
Financial structure, financial costs and financial instruments | |
Schedule of liquidity risk - maturity of financial assets and liabilities | As of December 31, 2022 Assets/(Liabilities) Less than More than (M$) one year 1-2 years 2-3 years 3-4 years 4-5 years 5 years Total Non-current financial debt (notional value excluding interests) – (6,719) (4,527) (3,356) (3,503) (25,856) (43,961) Non-current financial assets excluding derivative financial instruments – 367 85 85 85 806 1,428 Current borrowings (15,502) – – – – – (15,502) Other current financial liabilities (488) – – – – – (488) Current financial assets 8,746 – – – – – 8,746 Assets and liabilities available for sale or exchange 38 – – – – – 38 Cash and cash equivalents 33,026 – – – – – 33,026 Net amount before financial expense 25,820 (6,352) (4,442) (3,271) (3,418) (25,050) (16,713) Financial expense on non-current financial debt (662) (583) (515) (449) (416) (4,611) (7,236) Interest differential on swaps (431) (312) (264) (272) (221) (761) (2,261) NET AMOUNT 24,727 (7,247) (5,221) (3,992) (4,055) (30,422) (26,210) As of December 31, 2021 Assets/(Liabilities) Less than More than (M$) one year 1-2 years 2-3 years 3-4 years 4-5 years 5 years Total Non-current financial debt (notional value excluding interests) – (6,073) (6,328) (4,420) (3,314) (28,495) (48,630) Non-current financial assets excluding derivative financial instruments – 41 41 38 37 1,365 1,522 Current borrowings (15,035) – – – – – (15,035) Other current financial liabilities (372) – – – – – (372) Current financial assets 12,315 – – – – – 12,315 Assets and liabilities available for sale or exchange 4 – – – – – 4 Cash and cash equivalents 21,342 – – – – – 21,342 Net amount before financial expense 18,254 (6,032) (6,287) (4,382) (3,277) (27,130) (28,854) Financial expense on non-current financial debt (821) (786) (664) (576) (506) (5,197) (8,550) Interest differential on swaps (217) (235) (232) (229) (221) (836) (1,970) NET AMOUNT 17,216 (7,053) (7,183) (5,187) (4,004) (33,163) (39,374) As of December 31, 2020 Assets/(Liabilities) Less than More than (M$) one year 1-2 years 2-3 years 3-4 years 4-5 years 5 years Total Non-current financial debt (notional value excluding interests) – (9,849) (5,762) (5,990) (4,321) (30,951) (56,873) Non-current financial assets excluding derivative financial instruments – 59 42 45 46 1,259 1,451 Current borrowings (17,099) – – – – – (17,099) Other current financial liabilities (203) – – – – – (203) Current financial assets 4,630 – – – – – 4,630 Assets and liabilities available for sale or exchange (313) – – – – – (313) Cash and cash equivalents 31,268 – – – – – 31,268 Net amount before financial expense 18,283 (9,790) (5,720) (5,945) (4,275) (29,692) (37,139) Financial expense on non-current financial debt (930) (888) (825) (696) (603) (5,833) (9,775) Interest differential on swaps (163) (149) (158) (173) (196) (930) (1,769) NET AMOUNT 17,190 (10,827) (6,703) (6,814) (5,074) (36,455) (48,683) |
Schedule of financial assets and liabilities related to operating activities | As of December 31, Assets/(Liabilities) (M$) 2022 2021 2020 Accounts payable (41,346) (36,837) (23,574) Other operating liabilities (35,186) (27,294) (14,302) including derivative financial instruments related to commodity contracts (liabilities) (18,774) (16,166) (3,666) Accounts receivable, net 24,378 21,983 14,068 Other operating receivables 28,289 29,553 8,043 including derivative financial instruments related to commodity contracts (assets) 20,220 22,412 1,428 TOTAL (23,865) (12,595) (15,765) |
Credit risk | |
Financial structure, financial costs and financial instruments | |
Schedule of maximum credit risk exposure | As of December 31, Assets/(Liabilities) (M$) 2022 2021 2020 Loans to equity affiliates (note 8) 3,733 4,532 5,129 Loans and advances (note 6) 1,837 2,107 2,458 Other non-current financial assets related to operational activities (note 6) 250 312 287 Non-current financial assets (note 15.1) 2,731 2,404 4,781 Accounts receivable (note 5) 24,378 21,983 14,068 Other operating receivables (note 5) 28,289 29,553 8,043 Current financial assets (note 15.1) 8,746 12,315 4,630 Cash and cash equivalents (note 15.1) 33,026 21,342 31,268 TOTAL 102,990 94,548 70,664 |
Financial instruments, excluding commodity contracts | |
Financial structure, financial costs and financial instruments | |
Schedule of impact on the statement of income per nature of financial instruments | For the year ended December 31, (M$) 2022 2021 2020 Loans and receivables 562 188 154 Financing liabilities and associated hedging instruments (1,812) (1,373) (1,660) Fair value hedge (ineffective portion) (5) (10) 12 Lease assets and obligations (458) (413) (422) Assets and liabilities held for trading 470 83 (194) IMPACT ON THE COST OF NET DEBT (1,243) (1,525) (2,110) |
Schedule of maturity of derivative instruments | For the year ended December 31, 2022 Notional Notional value schedule (M$) Fair value Fair 2024 2028 Assets / (Liabilities) value 2023 value and beyond 2024 2025 2026 2027 and beyond Fair value hedge Swaps hedging bonds (assets) – 1,000 – – Swaps hedging bonds (liabilities) (260) 2,858 (1,015) 8,171 Total swaps hedging bonds - fair value hedge (260) 3,858 (1,015) 8,171 2,087 1,630 202 820 3,432 Cash flow hedge Swaps hedging bonds (assets) 2 250 813 11,782 Swaps hedging bonds (liabilities) (2) 750 (2,731) 17,511 Total swaps hedging bonds - cash flow hedge – 1,000 (1,918) 29,293 3,659 4,459 4,069 2,071 15,035 Forward exchange contracts related to operating activities (assets) 4 70 3 91 Forward exchange contracts related to operating activities (liabilities) (19) 187 (19) 433 Total forward exchange contracts related to operating activities (15) 257 (16) 524 524 – – – – Held for trading Other interest rate swaps (assets) 154 14,955 447 7,470 Other interest rate swaps (liabilities) (94) 13,236 (226) 4,128 Total other interest rate swaps 60 28,191 221 11,598 5,233 3,716 1,174 1,022 453 Currency swaps and forward exchange contracts (assets) 55 7,076 44 1,289 Currency swaps and forward exchange contracts (liabilities) (110) 15,964 (57) 839 Total currency swaps and forward exchange contracts (55) 23,040 (13) 2,128 391 1,737 – – – Notional amounts set the levels of commitment and are indicative nor of a contingent gain or loss neither of a related debt. For the year ended December 31, 2021 Notional Notional value schedule (M$) Fair value Fair 2023 2027 Assets / (Liabilities) value 2022 value and beyond 2023 2024 2025 2026 and beyond Fair value hedge Swaps hedging bonds (assets) 42 566 415 9,659 Swaps hedging bonds (liabilities) (316) 3,737 (102) 2,371 Total swaps hedging bonds - fair value hedge (274) 4,303 313 12,030 3,858 2,087 1,630 202 4,253 Cash flow hedge Swaps hedging bonds (assets) – – 372 7,149 Swaps hedging bonds (liabilities) – – (1,396) 23,144 Total swaps hedging bonds - cash flow hedge – – (1,024) 30,293 1,000 3,659 4,459 4,068 17,107 Forward exchange contracts related to operating activities (assets) – 36 – – Forward exchange contracts related to operating activities (liabilities) (8) 283 (14) 366 Total forward exchange contracts related to operating activities (8) 319 (14) 366 171 195 – – – Held for trading Other interest rate swaps (assets) 13 20,876 78 5,170 Other interest rate swaps (liabilities) (19) 6,470 (41) 2,561 Total other interest rate swaps (6) 27,346 37 7,731 1,708 2,856 2,111 751 305 Currency swaps and forward exchange contracts (assets) 65 9,769 17 367 Currency swaps and forward exchange contracts (liabilities) (37) 5,065 – (16) Total currency swaps and forward exchange contracts 28 14,834 17 351 265 86 – – – Notional amounts set the levels of commitment and are indicative nor of a contingent gain or loss neither of a related debt. For the year ended December 31, 2020 Notional Notional value schedule (M$) Fair value Fair 2022 2026 Assets / (Liabilities) value 2021 value and beyond 2022 2023 2024 2025 and beyond Fair value hedge Swaps hedging bonds (assets) 18 1,250 1,365 12,642 Swaps hedging bonds (liabilities) (104) 1,445 (142) 3,737 Total swaps hedging bonds - fair value hedge (86) 2,695 1,223 16,379 4,350 3,858 2,087 1,630 4,454 Cash flow hedge Swaps hedging bonds (assets) – – 1,856 16,259 Swaps hedging bonds (liabilities) – – (1,473) 14,033 Total swaps hedging bonds - cash flow hedge – – 383 30,292 – 1,000 3,659 4,459 21,174 Forward exchange contracts related to operating activities (assets) 16 262 20 394 Forward exchange contracts related to operating activities (liabilities) – – – – Total forward exchange contracts related to operating activities 16 262 20 394 276 118 – – – Held for trading Other interest rate swaps (assets) 10 22,011 84 3,214 Other interest rate swaps (liabilities) (51) 7,693 (116) 3,695 Total other interest rate swaps (41) 29,704 (32) 6,909 2,067 764 2,004 1,937 137 Currency swaps and forward exchange contracts (assets) 39 3,323 5 344 Currency swaps and forward exchange contracts (liabilities) (48) 2,580 (2) 54 Total currency swaps and forward exchange contracts (9) 5,903 3 398 189 145 64 – – Notional amounts set the levels of commitment and are indicative nor of a contingent gain or loss neither of a related debt. |
Schedule of fair value hierarchy for financial instruments | Quoted prices in active markets Prices based Prices based on for identical on observable non observable As of December 31, 2022 assets data data (M$) (level 1) (level 2) (level 3) Total Fair value hedge instruments – (1,275) – (1,275) Cash flow hedge instruments – (1,950) – (1,950) Assets and liabilities held for trading – 214 – 214 Equity instruments 33 – – 33 TOTAL 33 (3,011) – (2,978) Quoted prices in active markets Prices based Prices based on for identical on observable non observable As of December 31, 2021 assets data data (M$) (level 1) (level 2) (level 3) Total Fair value hedge instruments – 39 – 39 Cash flow hedge instruments – (1,052) – (1,052) Assets and liabilities held for trading – 82 – 82 Equity instruments 501 – – 501 TOTAL 501 (931) – (430) Quoted prices in active markets Prices based Prices based on for identical on observable non observable As of December 31, 2020 assets data data (M$) (level 1) (level 2) (level 3) Total Fair value hedge instruments – 1,137 – 1,137 Cash flow hedge instruments – 408 – 408 Assets and liabilities held for trading – (68) – (68) Equity instruments 706 – – 706 TOTAL 706 1,477 – 2,183 |
Financial instruments, excluding commodity contracts | Hedging of financial debt (Fair value hedge) | |
Financial structure, financial costs and financial instruments | |
Schedule of impact of the hedging strategies | For the year ended December 31, (M$) 2022 2021 2020 Revaluation impact at market value of bonds 3,817 3,199 (4,004) Swaps hedging bonds (3,822) (3,209) 4,016 INEFFECTIVE PORTION OF THE FAIR VALUE HEDGE (5) (10) 12 |
Financial instruments, excluding commodity contracts | Cash flow hedge | |
Financial structure, financial costs and financial instruments | |
Schedule of impact of the hedging strategies | For the year ended December 31, (M$) 2022 2021 2020 Profit (Loss) recorded in other comprehensive income of the period 72 (167) (327) Recycled amount from other comprehensive income to the income statement of the period (55) (113) 139 |
Financial instruments related_2
Financial instruments related to commodity contracts (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Financial structure, financial costs and financial instruments | |
Schedule of offsetting of financial instruments related to commodity contracts | Net balance As of December 31, 2022 Gross value Amounts sheet value Other (M$) before offsetting offset presented amounts not Net carrying Fair Assets / (Liabilities) assets liabilities assets (c) liabilities (c) assets liabilities offset amount value (b) Integrated Gas, Renewables & Power activities Swaps 1,268 (449) (18) 18 1,250 (431) – 819 819 Forwards (a) 18,014 (18,638) (1,994) 1,994 16,020 (16,644) – (624) (624) Options 2,143 (1) (1) 1 2,142 – – 2,142 2,142 Futures 13 (3) – – 13 (3) – 10 10 Other/Collateral – – – – – – (406) (406) (406) Total Integrated Gas, Renewables & Power 21,438 (19,091) (2,013) 2,013 19,425 (17,078) (406) 1,941 1,941 Crude oil, petroleum products and freight rates activities Petroleum products, crude oil and freight rate swaps 122 (114) (58) 58 64 (56) – 8 8 Forwards (a) 631 (1,489) (7) 7 624 (1,482) – (858) (858) Options 76 (227) (69) 69 7 (158) – (151) (151) Futures – – – – – – – – – Options on futures 113 (13) (13) 13 100 – – 100 100 Other/Collateral – – – – – – – – – Total crude oil, petroleum products and freight rates 942 (1,843) (147) 147 795 (1,696) – (901) (901) TOTAL 22,380 (20,934) (2,160) 2,160 20,220 (18,774) (406) 1,040 1,040 Total of fair value non recognized in the balance sheet – (a) Forwards: contracts resulting in physical delivery are accounted for as derivative commodity contracts and included in the amounts shown. (b) When the fair value of derivatives listed on an organized exchange market (futures, options on futures and swaps) is offset with the margin call received or paid in the balance sheet, this fair value is set to zero. (c) Amounts offset in accordance with IAS 32. Net balance As of December 31, 2021 Gross value Amounts sheet value Other (M$) before offsetting offset presented amounts not Net carrying Fair Assets / (Liabilities) assets liabilities assets (c) liabilities (c) assets liabilities offset amount value (b) Integrated Gas, Renewables & Power activities Swaps 92 (385) (35) 35 57 (350) – (293) (293) Forwards (a) 21,752 (16,954) (2,120) 2,120 19,632 (14,834) – 4,798 4,798 Options 1,953 (63) (3) 3 1,950 (60) – 1,890 1,890 Futures 418 (430) (183) 183 235 (247) – (12) (12) Other/Collateral – – – – – – 382 382 382 Total Integrated Gas, Renewables & Power 24,215 (17,832) (2,341) 2,341 21,874 (15,491) 382 6,765 6,765 Crude oil, petroleum products and freight rates activities Petroleum products, crude oil and freight rate swaps 245 (289) (166) 166 79 (123) – (44) (44) Forwards (a) 411 (444) (88) 88 323 (356) – (33) (33) Options 68 (236) (40) 40 28 (196) – (168) (168) Futures – – – – – – – – – Options on futures 186 (78) (78) 78 108 – – 108 108 Other/Collateral – – – – – – 344 344 344 Total crude oil, petroleum products and freight rates 910 (1,047) (372) 372 538 (675) 344 207 207 TOTAL 25,125 (18,879) (2,713) 2,713 22,412 (16,166) 726 6,972 6,972 Total of fair value non recognized in the balance sheet – (a) Forwards: contracts resulting in physical delivery are accounted for as derivative commodity contracts and included in the amounts shown. (b) When the fair value of derivatives listed on an organized exchange market (futures, options on futures and swaps) is offset with the margin call received or paid in the balance sheet, this fair value is set to zero. (c) Amounts offset in accordance with IAS 32. Net balance As of December 31, 2020 Gross value Amounts sheet value Other (M$) before offsetting offset presented amounts not Net carrying Fair Assets / (Liabilities) assets liabilities assets (c) liabilities (c) assets liabilities offset amount value (b) Integrated Gas, Renewables & Power activities Swaps 10 (71) – – 10 (71) – (61) (61) Forwards (a) 1,372 (3,113) (186) 186 1,186 (2,927) – (1,741) (1,741) Options (61) (75) (13) 13 (74) (62) – (136) (136) Futures 42 (32) (21) 21 21 (11) – 10 10 Other/Collateral – – – – – – 22 22 22 Total Integrated Gas, Renewables & Power 1,363 (3,291) (220) 220 1,143 (3,071) 22 (1,906) (1,906) Crude oil, petroleum products and freight rates activities Petroleum products, crude oil and freight rate swaps 302 (443) (207) 207 95 (236) – (141) (141) Forwards (a) 158 (297) (13) 13 145 (284) – (139) (139) Options 113 (125) (68) 68 45 (57) – (12) (12) Futures – – – – – – – – – Options on futures 117 (135) (117) 117 – (18) – (18) (18) Other/Collateral – – – – – – 43 43 43 Total crude oil, petroleum products and freight rates 690 (1,000) (405) 405 285 (595) 43 (267) (267) TOTAL 2,053 (4,291) (625) 625 1,428 (3,666) 65 (2,173) (2,173) Total of fair value non recognized in the balance sheet (a) Forwards: contracts resulting in physical delivery are accounted for as derivative commodity contracts and included in the amounts shown. (b) When the fair value of derivatives listed on an organized exchange market (futures, options on futures and swaps) is offset with the margin call received or paid in the balance sheet, this fair value is set to zero. (c) Amounts offset in accordance with IAS 32. |
Trading & Shipping | |
Financial structure, financial costs and financial instruments | |
Schedule of market related risks - value-at-risk | As of December 31, (M$) High Low Average Year end 2022 48 9 22 27 2021 36 9 18 12 2020 30 6 15 19 |
Integrated Gas, Renewables & Power | |
Financial structure, financial costs and financial instruments | |
Schedule of market related risks - value-at-risk | As of December 31, (M$) High Low Average Year end 2022 119 15 53 92 2021 80 9 28 30 2020 51 6 21 27 |
Derivative financial instruments related to commodity contracts | |
Financial structure, financial costs and financial instruments | |
Schedule of changes in fair value and fair value hierarchy for financial instruments | For the year ended December 31, Fair value Impact on Settled Fair value as of (M$) as of January 1, income contracts Other December 31, Integrated Gas, Renewables & Power activities 2022 6,383 11,406 (15,628) 186 2,347 2021 (1,928) 6,817 1,408 86 6,383 2020 (260) 676 (2,348) 4 (1,928) Crude oil, petroleum products and freight rates activities 2022 (137) 5,891 (6,655) – (901) 2021 (310) 3,950 (3,777) – (137) 2020 (282) 3,813 (3,841) – (310) The fair value hierarchy for financial instruments related to commodity contracts is as follows: Quoted prices in active markets for Prices based on Prices based on As of December 31, 2022 identical observable data non observable (M$) assets (level 1) (level 2) data (level 3) Total Integrated Gas, Renewables & Power activities 1,034 1,678 (365) 2,347 Crude oil, petroleum products and freight rates activities 98 (999) – (901) TOTAL 1,132 679 (365) 1,446 Quoted prices in active markets for Prices based on Prices based on As of December 31, 2021 identical observable data non observable (M$) assets (level 1) (level 2) data (level 3) Total Integrated Gas, Renewables & Power activities 3,716 (3,563) 6,230 6,383 Crude oil, petroleum products and freight rates activities 134 (271) – (137) TOTAL 3,850 (3,834) 6,230 6,246 Quoted prices in active markets for Prices based on Prices based on As of December 31, 2020 identical observable data non observable (M$) assets (level 1) (level 2) data (level 3) Total Integrated Gas, Renewables & Power activities (159) (361) (1,408) (1,928) Crude oil, petroleum products and freight rates activities 10 (320) – (310) TOTAL (149) (681) (1,408) (2,238) |
Schedule of impact of the hedging strategies | As of December 31 (M$) 2022 2021 2020 Profit (Loss) recorded in other comprehensive income of the period (5,524) 445 14 Recycled amount from other comprehensive income to the income statement of the period 1,317 (56) (1) |
Post closing events (Tables)
Post closing events (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Investments in partnership with Adani | |
Post closing events | |
Schedule of interests in investments with Adani | Adani Total Private Limited 50 % Adani Total Gas Limited (quoted) 37.4 % Adani Green Energy Limited (quoted) 19.75 % AGEL23 50 % |
Consolidation scope (Tables)
Consolidation scope (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Consolidation scope | |
Schedule of the main group consolidated entities | Business % Company Country of segment Statutory corporate name interest Method incorporation Country of operations Exploration & Production Abu Dhabi Gas Industries Limited 15.00 % E United Arab Emirates United Arab Emirates Angola LNG Supply Services, LLC 13.60 % E United States United States Bonny Gas Transport Limited 15.00 % E Bermuda Nigeria Brass Holdings B.V. 100.00 % Netherlands Nigeria Brass LNG Limited 20.48 % E Nigeria Nigeria Congo Forest Company (CFC) 100.00 % Congo Congo Deer Creek Pipelines Limited 75.00 % Canada Canada Dolphin Energy Limited 24.50 % E United Arab Emirates United Arab Emirates E.F. Oil And Gas Limited 100.00 % United Kingdom United Kingdom East African Crude Oil Pipeline (EACOP) Ltd 62.00 % E United Kingdom Uganda Elf E&P 100.00 % France France Elf Exploration UK Limited 100.00 % United Kingdom United Kingdom Elf Petroleum Iran 100.00 % France Iran Elf Petroleum UK Limited 100.00 % United Kingdom United Kingdom Gas Investment and Services Company Limited 10.00 % E Bermuda Oman Global Forestry Development (GFD) 49.00 % E Belgium Belgium Mabruk Oil Operations 49.02 % France Libya Marsa LNG LLC 80.00 % Oman Oman Norpipe Oil A/S 34.93 % E Norway Norway Norpipe Petroleum UK Limited 45.22 % E United Kingdom Norway Norpipe Terminal Holdco Limited 45.22 % E United Kingdom Norway Norsea Pipeline Limited 45.22 % E United Kingdom Norway North Oil Company 30.00 % E Qatar Qatar Northern Lights JV DA 33.33 % E Norway Norway Pars LNG Limited 40.00 % E Bermuda Iran Private Oil Holdings Oman Limited 10.00 % E United Kingdom Oman Stogg Eagle Funding B.V. 100.00 % Netherlands Nigeria TOQAP Guyana B.V. 60.00 % Netherlands Guyana Total Austral 100.00 % France Argentina Total E&P Al Shaheen A/S 100.00 % Denmark Qatar Total E&P Angola Block 15/06 100.00 % France Angola Total E&P Angola Block 16 100.00 % France Angola Total E&P Angola Block 16 Holdings 100.00 % France Angola Total E&P Angola Block 33 100.00 % France Angola Total E&P Angola Block 39 100.00 % France Angola Total E&P Chine 100.00 % France China Total E&P Chissonga 100.00 % France Angola Total E&P Dunga GmbH 100.00 % Germany Kazakhstan Total E&P East El Burullus Offshore B.V. 100.00 % Netherlands Egypt Total E&P Egypt Block 2 B.V. 100.00 % Netherlands Egypt Total E&P Egypt Offshore Western Desert B.V. 100.00 % Netherlands Egypt Total E&P Egypte 100.00 % France Egypt Total E&P Guyane Francaise 100.00 % France France Total E&P Jutland Denmark B.V. 100.00 % Netherlands Denmark Total E&P Kurdistan Region of Iraq (Harir) B.V. 100.00 % Netherlands Iraq Total E&P Kurdistan Region of Iraq (Safen) B.V. 100.00 % Netherlands Iraq Total E&P Kurdistan Region of Iraq (Taza) B.V. 100.00 % Netherlands Iraq Total E&P Kurdistan Region of Iraq B.V. 100.00 % Netherlands Iraq Total E&P M2 Holdings Limited 100.00 % South Africa South Africa Total E&P Myanmar 100.00 % France Myanmar Total E&P Participations Petrolieres Congo 100.00 % Congo Congo Total E&P Philippines B.V. 100.00 % Netherlands Philippines Total E&P RDC 100.00 % Democratic Republic of Congo Democratic Republic of Congo Total E&P Services China Company Limited 100.00 % China China Total E&P South Pars 100.00 % France Iran Total E&P South Sudan 100.00 % France Republic of South Sudan Total E&P Syrie 100.00 % France Syrian Arab Republic Total E&P Tajikistan B.V. 100.00 % Netherlands Tajikistan Total Oil and Gas South America 100.00 % France France Total Pars LNG 100.00 % France France Total South Pars 100.00 % France Iran Total Venezuela 100.00 % France France TotalEnergies Anchor USA LLC 100.00 % United States United States TotalEnergies BTC B.V. 100.00 % Netherlands Azerbaijan TotalEnergies Denmark ASW 100.00 % United States Denmark TotalEnergies Denmark ASW Pipeline ApS 100.00 % Denmark Denmark TotalEnergies E&P Algérie 100.00 % France Algeria TotalEnergies E&P Algérie Berkine A/S 100.00 % Denmark Algeria TotalEnergies E&P Americas LLC 100.00 % United States United States TotalEnergies E&P Colombie 100.00 % France Colombia TotalEnergies E&P New Ventures Inc. 100.00 % United States United States TotalEnergies E&P North Sea UK Ltd 100.00 % United Kingdom United Kingdom TotalEnergies E&P Research & Technology USA LLC 100.00 % United States United States TotalEnergies E&P UK Ltd 100.00 % United Kingdom United Kingdom TotalEnergies E&P USA Inc. 100.00 % United States United States TotalEnergies E&P USA Oil Shale LLC 100.00 % United States United States TotalEnergies E&P USA Well Containment LLC 100.00 % United States United States TotalEnergies East Africa Midstream B.V. 100.00 % Netherlands Uganda TotalEnergies EP (Brunei) B.V. 100.00 % Netherlands Brunei TotalEnergies EP Absheron B.V. 100.00 % Netherlands Azerbaijan TotalEnergies EP Abu Al Bu Khoosh 100.00 % France United Arab Emirates TotalEnergies EP Angola 100.00 % France Angola TotalEnergies EP Angola Block 17.06 100.00 % France Angola TotalEnergies EP Angola Block 25 100.00 % France Angola TotalEnergies EP Angola Block 29 100.00 % France Angola TotalEnergies EP Angola Block 32 100.00 % France Angola TotalEnergies EP Angola Block 40 100.00 % France Angola TotalEnergies EP Angola Block 48 B.V. 100.00 % Netherlands Angola TotalEnergies EP Angola Blocks 20-21 100.00 % France Angola TotalEnergies EP Asia Pacific Pte. Ltd 100.00 % Singapore Singapore TotalEnergies EP Azerbaijan B.V. 100.00 % Netherlands Azerbaijan TotalEnergies EP Block 9 100.00 % France Lebanon TotalEnergies EP Bolivie 100.00 % France Bolivia TotalEnergies EP Brasil Ltda 100.00 % Brazil Brazil TotalEnergies EP Bulgaria B.V. 100.00 % Netherlands Bulgaria TotalEnergies EP Cambodge 100.00 % France Cambodia TotalEnergies EP Canada Ltd 100.00 % Canada Canada TotalEnergies EP Company UK Ltd 100.00 % United Kingdom United Kingdom TotalEnergies EP Congo 85.00 % Congo Congo TotalEnergies EP Côte d'Ivoire B.V. 100.00 % Netherlands Côte d'Ivoire TotalEnergies EP Cyprus B.V. 100.00 % Netherlands Cyprus TotalEnergies EP Danmark A/S 100.00 % Denmark Denmark TotalEnergies EP Danmark A/S - CPH 100.00 % Denmark Denmark TotalEnergies EP Dolphin Holdings 100.00 % France France TotalEnergies EP Dolphin Midstream 100.00 % France France TotalEnergies EP Dolphin Upstream 100.00 % France Qatar TotalEnergies EP France 100.00 % France France TotalEnergies EP Gabon 58.28 % Gabon Gabon TotalEnergies EP Gass Handel Norge AS 100.00 % Norway Norway TotalEnergies EP Gastransport Nederland B.V. 100.00 % Netherlands Netherlands TotalEnergies EP Golfe 100.00 % France Qatar TotalEnergies EP Greece B.V. 100.00 % Netherlands Greece TotalEnergies EP Guyana B.V. 100.00 % Netherlands Guyana TotalEnergies EP Holding UAE B.V. 100.00 % Netherlands United Arab Emirates TotalEnergies EP Holdings Russia 100.00 % France France TotalEnergies EP International K1 Ltd 100.00 % United Kingdom Kenya TotalEnergies EP International K2 Ltd 100.00 % United Kingdom Kenya TotalEnergies EP International K3 Ltd 100.00 % United Kingdom Kenya TotalEnergies EP International Ltd 100.00 % United Kingdom Kenya TotalEnergies EP Iran B.V. 100.00 % Netherlands Iran TotalEnergies EP Iraq 100.00 % France Iraq TotalEnergies EP Italia S.p.A. 100.00 % Italy Italy TotalEnergies EP Kazakhstan 100.00 % France Kazakhstan TotalEnergies EP Kenya B.V. 100.00 % Netherlands Kenya TotalEnergies EP Liban S.A.L. 100.00 % Lebanon Lebanon TotalEnergies EP Libye 100.00 % France Libya TotalEnergies EP Lower Zakum B.V. 100.00 % Netherlands United Arab Emirates TotalEnergies EP Malaysia 100.00 % France Malaysia TotalEnergies EP Mauritania Block C18 B.V. 100.00 % Netherlands Mauritania TotalEnergies EP Mauritania Block C9 B.V. 100.00 % Netherlands Mauritania TotalEnergies EP Mauritania Blocks DW B.V. 100.00 % Netherlands Mauritania TotalEnergies EP Mauritanie 100.00 % France Mauritania TotalEnergies EP M'Bridge B.V. 100.00 % Netherlands Angola TotalEnergies EP Mexico S.A. de C.V. 100.00 % Mexico Mexico TotalEnergies EP Namibia B.V. 100.00 % Netherlands Namibia TotalEnergies EP Nederland B.V. 100.00 % Netherlands Netherlands TotalEnergies EP Nigeria Deepwater A Ltd 100.00 % Nigeria Nigeria TotalEnergies EP Nigeria Deepwater B Ltd 100.00 % Nigeria Nigeria TotalEnergies EP Nigeria Deepwater C Ltd 100.00 % Nigeria Nigeria TotalEnergies EP Nigeria Deepwater D Ltd 100.00 % Nigeria Nigeria TotalEnergies EP Nigeria Deepwater E Ltd 100.00 % Nigeria Nigeria TotalEnergies EP Nigeria Deepwater F Ltd 100.00 % Nigeria Nigeria TotalEnergies EP Nigeria Deepwater G Ltd 100.00 % Nigeria Nigeria TotalEnergies EP Nigeria Deepwater H Ltd 100.00 % Nigeria Nigeria TotalEnergies EP Nigeria Ltd 100.00 % Nigeria Nigeria TotalEnergies EP Nigeria S.A.S. 100.00 % France France TotalEnergies EP Norge AS 100.00 % Norway Norway TotalEnergies EP Oman Block 11 B.V. 100.00 % France Oman TotalEnergies EP Oman S.A.S. 100.00 % France Oman TotalEnergies EP Petroleum Angola 100.00 % France Angola TotalEnergies EP Pipelines Danmark A/S 100.00 % Denmark Denmark TotalEnergies EP Profils Petroliers 100.00 % France France TotalEnergies EP Qatar 100.00 % France Qatar TotalEnergies EP Qatar 2 100.00 % France Qatar TotalEnergies EP Ratawi Hub 100.00 % France Iraq TotalEnergies EP Russie 100.00 % France Russia TotalEnergies EP Sao Tome and Principe B.V. 100.00 % Netherlands Angola TotalEnergies EP Sebuku 100.00 % France Indonesia TotalEnergies EP Senegal 100.00 % France Senegal TotalEnergies EP Services Brazil B.V. 100.00 % Netherlands Netherlands TotalEnergies EP South Africa B.V. 100.00 % Netherlands South Africa TotalEnergies EP South Africa Block 567 (Pty) Ltd 100.00 % South Africa South Africa TotalEnergies EP Suriname B.V. 100.00 % Netherlands Suriname TotalEnergies EP Thailand 100.00 % France Thailand TotalEnergies EP UAE Unconventional Gas B.V. 100.00 % Netherlands United Arab Emirates TotalEnergies EP Uganda S.A.S. 100.00 % France Uganda TotalEnergies EP Umm Shaif Nasr B.V. 100.00 % Netherlands United Arab Emirates TotalEnergies EP Venezuela B.V. 100.00 % Netherlands Venezuela TotalEnergies EP Vostok LLC 100.00 % Russia Russia TotalEnergies EP Waha 100.00 % Cayman Islands Libya TotalEnergies EP Well Response 100.00 % France France TotalEnergies EP Yemen 100.00 % France Yemen TotalEnergies EP Yemen Block 3 B.V. 100.00 % Netherlands Yemen TotalEnergies Holdings EACOP S.A.S. 100.00 % France Uganda TotalEnergies Holdings International B.V. 100.00 % Netherlands Netherlands TotalEnergies Holdings Nederland B.V. 100.00 % Netherlands Netherlands TotalEnergies Jack USA LLC 100.00 % United States United States TotalEnergies LNG Supply Services USA 100.00 % United States United States TotalEnergies Nature Based Solutions 100.00 % France France TotalEnergies Nature Based Solutions II 100.00 % France France TotalEnergies Nederland Facilities Management B.V. 100.00 % Netherlands Netherlands TotalEnergies Offshore GB Ltd 100.00 % United Kingdom United Kingdom TotalEnergies Offshore UK Ltd 100.00 % United Kingdom United Kingdom TotalEnergies Petróleo & Gás Brasil Ltda 100.00 % Brazil Brazil TotalEnergies Shipping Brazil B.V. 100.00 % Netherlands Brazil TotalEnergies Termokarstovoye S.A.S. 100.00 % France France TotalEnergies Upstream Danmark A/S 100.00 % Denmark Denmark TotalEnergies Upstream Nigeria 100.00 % Nigeria Nigeria TotalEnergies Upstream UK Ltd 100.00 % United Kingdom United Kingdom Uintah Colorado Resources, LLC 66.67 % United States United States Uintah Colorado Resources II, LLC 100.00 % United States United States Business % Company Country of segment Statutory corporate name interest Method incorporation Country of operations Integrated Gas, Renewables & Power Abarloar Solar S.L.U. 100.00 % Spain Spain Abu Dhabi Gas Liquefaction Company Limited 5.00 % E United Arab Emirates United Arab Emirates Adani Gas Limited AGL 37.40 % E India India Adani Green Energy Ltd 19.75 % E India India Adani Green Energy Twenty Three Limited 50.00 % E India India Adani Total Private Limited (d) 50.00 % E India India Advanced Thermal Batteries Inc. 50.00 % E United States United States Aerospatiale Batteries (ASB) 50.00 % E France France Aerowatt Energies 65.00 % E France France Aerowatt Energies 2 51.00 % E France France Al Kharsaa Solar Holdings B.V. 49.00 % E Netherlands Netherlands Alamo Solarbay S.L.U. 100.00 % Spain Spain Alcad AB 100.00 % Sweden Sweden Alicante 50.00 % E France France Alicante 2 50.00 % E France France Altergie Territoires 2 44.58 % E France France Altergie Territoires 3 50.00 % E France France Amber Solar Power Cinco, S.L. 65.00 % E Spain Spain Amber Solar Power Cuatro, S.L. 65.00 % E Spain Spain Amber Solar Power Dieciseis, S.L. 65.00 % E Spain Spain Amber Solar Power Diez, S.L. 65.00 % E Spain Spain Amber Solar Power Nueve, S.L. 65.00 % E Spain Spain Amber Solar Power Quince, S.L. 65.00 % E Spain Spain Amber Solar Power Tres, S.L. 65.00 % E Spain Spain Amber Solar Power Uno, S.L. 65.00 % E Spain Spain Amura Solar, S.L.U. 100.00 % Spain Spain Anayet Solar, S.L.U. 100.00 % Spain Spain Anclote Solar, S.L.U. 100.00 % Spain Spain Ancora Solar, S.L.U. 100.00 % Spain Spain Andromeda Solarbay HP S.L. 100.00 % Spain Spain Angola LNG Ltd 13.60 % E Bermuda Angola Arbotante Solar, S.L.U. 100.00 % Spain Spain Arctic LNG 2 LLC 10.00 % E Russia Russia Armada Solar, S.L.U. 100.00 % Spain Spain ATJV Offshore 50.00 % E Singapore Singapore Atolón Solar, S.L.U. 100.00 % Spain Spain Attentive Energy, LLC 84.00 % E United States United States Auriga Generacion S.L. 100.00 % Spain Spain Automotive Cells Company, S.E. 33.33 % E France France Baker Creek Solar, LLC 100.00 % United States United States Baser Comercializadora de Referencia 100.00 % Spain Spain BioBearn S.A.S. 100.00 % France France BioDeac S.A.S. 65.00 % E France France BioGasconha S.A.S. 100.00 % France France Biogaz Breuil 100.00 % France France Biogaz Chatillon 100.00 % France France Biogaz Corcelles 100.00 % France France Biogaz Epinay 100.00 % France France Biogaz Libron 100.00 % France France Biogaz Milhac 100.00 % France France Biogaz Soignolles 100.00 % France France Biogaz Torcy 100.00 % France France Biogaz Vert Le Grand 100.00 % France France Biogaz Viriat 100.00 % France France BioLoie S.A.S. 55.00 % E France France BioPommeria S.A.S. 100.00 % France France BioQuercy S.A.S. 66.00 % E France France Bioroussillon S.A.S. 100.00 % France France Biovilleneuvois S.A.S. 100.00 % France France Blue Gem Wind Limited 80.00 % E United Kingdom United Kingdom Brazoria Solar I, LLC 100.00 % United States United States Brazoria Solar II, LLC 100.00 % United States United States Cameron LNG Holdings LLC 16.60 % E United States United States Castille 50.00 % E France France Cefeo Solar S.L. 100.00 % Spain Spain Centaurus Environment S.L.U. 100.00 % Spain Spain Central Solaire RENFR 331 100.00 % France France Centrale Eolienne De La Vallee Gentillesse 74.80 % France France Centrale Hydrolique Alas 100.00 % France France Centrale Hydrolique Ardon 90.00 % France France Centrale Hydrolique Arvan 100.00 % France France Centrale Hydrolique Barbaira 100.00 % France France Centrale Hydrolique Bonnant 100.00 % France France Centrale Hydrolique Gavet 100.00 % France France Centrale Hydrolique Miage 100.00 % France France Centrale Hydrolique Previnquieres 100.00 % France France Centrale Photovoltaique De Merle Sud 40.58 % E France France Centrale Solaire 2 100.00 % France France Centrale Solaire 21.09-4 100.00 % France France Centrale Solaire APV R&D 100.00 % France France Centrale Solaire Autoprod 100.00 % France France Centrale Solaire Beauce Val de Loire 60.00 % France France Centrale Solaire Borde Blanche 100.00 % France France Centrale Solaire Cet d'Al Gouty 100.00 % France France Centrale Solaire Chemin De Melette 51.00 % E France France Centrale Solaire De Cazedarnes 75.00 % France France Centrale Solaire Dom 100.00 % France France Centrale Solaire Du Centre Ouest 100.00 % France France Centrale Solaire Du Lavoir 60.00 % France France Centrale Solaire Estarac 35.00 % E France France Centrale Solaire Forum Laudun 100.00 % France France Centrale Solaire Gatilles 100.00 % France France Centrale Solaire Golbey 100.00 % France France Centrale Solaire Guinots 60.00 % E France France Centrale Solaire Heliovale 59.63 % E France France Centrale Solaire La Potence 100.00 % France France Centrale Solaire La Roquette 100.00 % France France Centrale Solaire La Tastere 60.00 % E France France Centrale Solaire Lacoste 100.00 % France France Centrale Solaire Larampeau 100.00 % France France Centrale Solaire Les Cordeliers 83.98 % France France Centrale Solaire Les Cordeliers 2 75.00 % France France Centrale Solaire Lodes 50.00 % E France France Centrale Solaire Lot 1 100.00 % France France Centrale Solaire Mazeran Lr 50.00 % E France France Centrale Solaire Merle Sud 2 60.00 % E France France Centrale Solaire Olinoca 10.00 % E France France Centrale Solaire Ombrieres Cap Agathois 83.98 % France France Centrale Solaire Ombrieres De Blyes 60.00 % France France Centrale Solaire Plateau De Pouls 51.00 % France France Centrale Solaire Pouy Negue 2 100.00 % France France Centrale Solaire RENFR 436 100.00 % France France Centrale Solaire Solarshare Bordeaux 100.00 % France France Centrale Solaire Terre du Roi 100.00 % France France Centrale Solaire Toiture Josse 60.00 % E France France Centrale Solaire Vauvoix 60.00 % E France France Centrale Solaire Zabo 2 100.00 % France France Cerezo Solar, S.L.U. 100.00 % Spain Spain Cidra Solar, S.L.U. 100.00 % Spain Spain Circinus Energy S.L. 100.00 % Spain Spain Clinton Solar, LLC 100.00 % United States United States Colón LNG Marketing S. de R. L. 50.00 % E Panama Panama Columba Renovables S.L.U. 100.00 % Spain Spain Comanche Solar, LLC 100.00 % United States United States Core Energy Development, LLC 100.00 % United States United States Core Fund 1, LLC 100.00 % United States United States Core Solar Capital, LLC 100.00 % United States United States Core Solar Data, LLC 100.00 % United States United States Core Solar Development, LLC 100.00 % United States United States Core Solar DG, LLC 100.00 % United States United States Core Solar Holdings I, LLC 100.00 % United States United States Core Solar Land Holdings I, LLC 100.00 % United States United States Core Solar SPV X, LLC 100.00 % United States United States Core Solar SPV XV, LLC 100.00 % United States United States Core Solar SPV XXIV, LLC 100.00 % United States United States Core Solar, LLC 100.00 % United States United States Cote d'Ivoire GNL 34.00 % E Côte d'Ivoire Côte d'Ivoire Cottonwood Bayou Solar, LLC 100.00 % United States United States Cowtown Solar, LLC 100.00 % United States United States Crc Kern Front Tugboat, LLC 100.00 % United States United States CS Carrefour de l'Europe 100.00 % France France CS Les Comottes 100.00 % France France CS QUADRAO 2 100.00 % United States United States Cygnus Environment S.L. 100.00 % Spain Spain Danish Fields Solar, LLC 100.00 % United States United States Del Rio Funding LLC (a) 59.57 % E United States United States ECA LNG Holdings B.V. 16.60 % E Netherlands Netherlands Eclipse Solar SPA 100.00 % Chile Chile Edelweis Solar, S.L.U. 100.00 % Spain Spain Energie Developpement 50.00 % E France France Eole Boin 100.00 % France France Eole Champagne Conlinoise 66.00 % E France France Eole Dadoud 100.00 % France France Eole Fonds Caraibes 100.00 % France France Eole Grand Maison 100.00 % France France Eole La Montagne 87.60 % France France Eole La Perriere S.A.R.L. 100.00 % France France Eole Morne Carriere 100.00 % France France Eole Yate 100.00 % France France Eolmed 20.00 % E France France Evergreen Solar, LLC 100.00 % United States United States Falla Solar, S.L.U. 100.00 % Spain Spain Fast Jung KB 100.00 % Sweden Sweden Fleming Solar, LLC 100.00 % United States United States Fluxsol 100.00 % France France Fonroche Energies Renouvelables S.A.S. 100.00 % France France Frieman & Wolf Batterietechnick GmbH 100.00 % Germany Germany G.K. Succeed Tsu Haze 45.00 % E Japan Japan Galibier 50.00 % E France France Garonne-et-Canal Energies 100.00 % France France Gas Del Litoral SRLCV 25.00 % E Mexico Mexico GIP III Zephyr Holdings, LLC 50.00 % E United States United States Glaciere De Palisse 100.00 % France France Global LNG Armateur S.A.S. 100.00 % France France Global LNG Downstream S.A.S. 100.00 % France France Global LNG North America Corporation 100.00 % United States United States Global LNG S.A.S. 100.00 % France France Go Electric 100.00 % United States United States Golden Triangle Solar, LLC 100.00 % United States United States Goodfellow Solar III, LLC 100.00 % United States United States Gray Whale Offshore Wind Power No.1 Co., Ltd 42.50 % E South Korea South Korea Gray Whale Offshore Wind Power No.2 Co., Ltd 42.50 % E South Korea South Korea Gray Whale Offshore Wind Power No.3 Co. Ltd 42.50 % E South Korea South Korea Greenflex Actirent Group, S.L. 100.00 % Spain Spain Greenflex S.A.S. 100.00 % France France Grillete Solar, S.L.U. 100.00 % Spain Spain GT R4 Holding Limited 50.00 % E United Kingdom United Kingdom Gulf Total Tractebel Power Company PSJC 20.00 % E United Arab Emirates United Arab Emirates Hanwha Total Solar II, LLC 50.00 % E United States United States Hanwha Total Solar, LLC 50.00 % E United States United States Helio 100 Kw 100.00 % France France Helio 971 100.00 % France France Helio 974 Sol 1 100.00 % France France Helio 974 Toiture 2 100.00 % France France Helio Fonds Caraibes 100.00 % France France Helio L'R 100.00 % France France Helio Saint Benoit 100.00 % France France Helio Wabealo 100.00 % France France Helix Project V, LLC 100.00 % United States United States HETTY 100.00 % France France Hill Solar I, LLC 100.00 % United States United States Hill Solar I, LLC 100.00 % United States United States Hill Solar II, LLC 100.00 % United States United States HTS Holdings LLC 50.00 % E United States United States Hydro 974 100.00 % France France Hydro Tinee 50.00 % E France France Hydromons 100.00 % France France Ichthys LNG PTY Limited 26.00 % E Australia Australia Ise Total Nanao Power Plant G.K. 50.00 % E Japan Japan Jingdan New Energy investment (Shanghai) Co. Ltd 50.00 % E China China Jmcp 50.05 % France France Keith Solar I, LLC 100.00 % United States United States Komundo Offshore Wind Power Co., Ltd 42.50 % E South Korea South Korea LA Basin Solar I, LLC 100.00 % United States United States La Compagnie Electrique de Bretagne 50.00 % E France France La Metairie Neuve 25.00 % E France France La Seauve 40.00 % E France France Lanuza Solar, S.L.U. 100.00 % Spain Spain Lauderdale Solar, LLC 100.00 % United States United States Laurens Solar I, LLC 100.00 % United States United States Lemoore Stratford Land Holdings IV, LLC 100.00 % United States United States Les ailes de Taillard 50.00 % E France France Les vents de la Moivre 1 100.00 % France France Les Vents de la Moivre 2 100.00 % France France Les Vents de la Moivre 3 100.00 % France France Les Vents de la Moivre 4 100.00 % France France Les Vents de la Moivre 5 100.00 % France France Les Vents De Nivillac 100.00 % France France Leuret 50.00 % E France France Lorca 50.00 % E France France Luce Solar SPA 100.00 % Chile Chile Luminora Solar 5 65.00 % E Spain Spain Luminora Solar cuatro, S.L. 65.00 % E Spain Spain Luminora Solar Dos, S.L. 65.00 % E Spain Spain Luminora Solar Tres, S.L. 65.00 % E Spain Spain Maenggoldo Offshore Wind Power Co., Ltd 42.50 % E South Korea South Korea Margeriaz Energie 100.00 % France France Martianez Solar, S.L.U. 100.00 % Spain Spain Marysville Unified School District Solar, LLC 100.00 % United States United States Mauricio Solar, S.L.U. 100.00 % Spain Spain Maxeon Solar Technologies, Pte. Ltd. 26.66 % E Singapore Singapore Methanergy 100.00 % France France Missiles & Space Batteries Limited 50.00 % E United Kingdom United Kingdom Miyagi Osato Solar Park G.K. 45.00 % E Japan Japan Miyako Kuzakai Solarpark G.K. 50.00 % E Japan Japan Moz LNG1 Co-Financing Company 26.50 % Mozambique Mozambique Moz LNG1 Financing Company Ltd 26.50 % United Arab Emirates United Arab Emirates Moz LNG1 Holding Company Ltd 26.50 % United Arab Emirates United Arab Emirates Mozambique LNG Marine Terminal Company S.A. 26.50 % Mozambique Mozambique Mozambique MOF Company S.A. 26.50 % Mozambique Mozambique Mulilo Prieska PV (RF) Proprietary Limited 27.00 % E South Africa South Africa Mustang Creek Solar, LLC 100.00 % United States United States Myrtle Solar, LLC 100.00 % United States United States National Gas Shipping Company Limited 5.00 % E United Arab Emirates United Arab Emirates Nigeria LNG Limited 15.00 % E Nigeria Nigeria Nouvelle Centrale Eolienne de Lastours 50.00 % E France France Nuza Solar, S.L.U. 100.00 % Spain Spain Nyk Armateur S.A.S. 50.00 % E France France Offshore Wind Power Ltd 38.25 % E United Kingdom United Kingdom Oman LNG, LLC 5.54 % E Oman Oman Papua LNG Development Pte Ltd 100.00 % Singapore Papua New Guinea Parc Eolien de Cassini 50.00 % E France France Parc Eolien Des Monts Jumeaux 50.00 % E France France Parc Eolien Du Coupru 50.00 % E France France Parc Eolien du Vilpion 50.00 % E France France Parque Fotovoltaico Alicahue Solar SPA 100.00 % Chile Chile Parque Fotovoltaico Santa Adriana Solar SPA 100.00 % Chile Chile Piedra Solar, LLC 100.00 % United States United States Pilastra Solar, S.L.U. 100.00 % Spain Spain Planta solar OPDE Andalucía 3, S.L.U. 100.00 % Spain Spain Portalon Solar, S.L.U. 100.00 % Spain Spain Pos Production Ii 60.00 % France France Pos Production Iii 70.00 % France France Pos Production Iv 70.00 % France France Pos Production V 70.00 % France France Poste HTB du Mont de L'Arbre 100.00 % France France Postigo Solar, S.L.U. 100.00 % Spain Spain PT TATS Indonesia 100.00 % Indonesia Indonesia Qatar Liquefied Gas Company Limited 10.00 % E Qatar Qatar Qatar Liquefied Gas Company Limited (II) 16.70 % E Qatar Qatar Quadrica 51.00 % E France France Quilla Solar, S.L.U. 100.00 % Spain Spain Rabiza Solar, S.L.U. 100.00 % Spain Spain Randolph Solar I, LLC 100.00 % United States United States Recova Solar, S.L.U. 100.00 % Spain Spain Regata Solar, S.L.U. 100.00 % Spain Spain RLA Solar SPA 100.00 % Chile Chile Rolling Plains Solar, LLC 100.00 % United States United States Saft (Zhuhai FTZ) Batteries Company Limited 100.00 % China China Saft (Zhuhai) Energy Storage Co 100.00 % China China Saft AB 100.00 % Sweden Sweden Saft America Inc. 100.00 % United States United States Saft AS 100.00 % Norway Norway Saft Australia PTY Limited 100.00 % Australia Australia Saft Batterias SL 100.00 % Spain Spain Saft Batterie Italia S.R.L. 100.00 % Italy Italy Saft Batterien GmbH 100.00 % Germany Germany Saft Batteries Pte Limited 100.00 % Singapore Singapore Saft Batteries PTY Limited 100.00 % Australia Australia Saft Batterijen B.V. 100.00 % Netherlands Netherlands Saft Do Brasil Ltda 100.00 % Brazil Brazil Saft EV S.A.S. 100.00 % France France Saft Ferak AS 100.00 % Czech Republic Czech Republic Saft Groupe S.A.S. 100.00 % France France Saft Hong Kong Limited 100.00 % Ho |
Notes to the Consolidated Fin_3
Notes to the Consolidated Financial Statements - Climate change and energy transition (Details) | 12 Months Ended | 84 Months Ended | 96 Months Ended | 216 Months Ended | 336 Months Ended | ||||
Jan. 01, 2029 | May 25, 2022 | Dec. 31, 2050 $ / bbl $ / MMBTU | Dec. 31, 2040 $ / bbl | Dec. 31, 2022 $ / bbl | Dec. 31, 2028 $ / t | Dec. 31, 2030 $ / bbl | Dec. 31, 2040 $ / MMBTU | Dec. 31, 2050 $ / bbl | |
Statements | |||||||||
Percentage of votes that approved the resolution for Sustainability & Climate - Progress Report 2022 at the Combined Shareholders' Meeting | 89% | ||||||||
Break-even limit point for low break-even project | 30 | ||||||||
Threshold minimum return on equity for evaluation of renewable energies project | 10% | ||||||||
Period of strategic plan for climate change and energy transition | 5 years | ||||||||
Forecast | |||||||||
Statements | |||||||||
Oil price | 24.5 | 50 | 70 | 53.9 | |||||
Annual percentage of inflation in CO2 price | 2% | ||||||||
Forecast | United States | |||||||||
Statements | |||||||||
Gas price | $ / MMBTU | 1.8 | 3 | |||||||
Minimum | |||||||||
Statements | |||||||||
CO2 price | $ / t | 100 | ||||||||
Maximum | |||||||||
Statements | |||||||||
Price limit for low-cost upstream projects in relation to operating and investing costs | 20 |
Notes to the Consolidated Fin_4
Notes to the Consolidated Financial Statements - Asset impairment and Asset retirement obligation (Details) | 1 Months Ended | 12 Months Ended | 84 Months Ended | 96 Months Ended | 168 Months Ended | 216 Months Ended | 336 Months Ended | |||||||||
Jan. 01, 2029 | Jun. 30, 2020 | Dec. 31, 2050 $ / MMBTU $ / bbl | Dec. 31, 2040 $ / bbl | Dec. 31, 2026 $ / MMBTU | Dec. 31, 2025 $ / MMBTU | Dec. 31, 2024 $ / MMBTU | Dec. 31, 2023 $ / MMBTU | Dec. 31, 2022 $ / t | Dec. 31, 2020 | Dec. 31, 2028 $ / t | Dec. 31, 2030 $ / bbl | Dec. 31, 2040 $ / MMBTU | Dec. 31, 2040 $ / MMBTU | Dec. 31, 2050 $ / bbl | Dec. 31, 2021 | |
Statements | ||||||||||||||||
Post-tax discount rate (as a percent) | 8% | 7% | 7% | |||||||||||||
Period of reserves for qualification of assets as stranded | 20 years | 20 years | ||||||||||||||
Discount rate for valuation of asset retirement obligation (as a percent) | 4% | 3% | 3% | |||||||||||||
Inflation rate for valuation of asset retirement obligation (as a percent) | 2% | 1.50% | 1.50% | |||||||||||||
Discount rate | ||||||||||||||||
Statements | ||||||||||||||||
Reasonably possible decrease in key assumption (as a percent) | 1% | |||||||||||||||
Reasonably possible increase in assumption (as a percent) | 1% | |||||||||||||||
CO2 prices | ||||||||||||||||
Statements | ||||||||||||||||
CO2 price in sensitivity scenario | $ / t | 200 | |||||||||||||||
Forecast | ||||||||||||||||
Statements | ||||||||||||||||
Oil price | $ / bbl | 24.5 | 50 | 70 | 53.9 | ||||||||||||
Annual percentage of inflation in CO2 price | 2% | |||||||||||||||
Forecast | CO2 prices | ||||||||||||||||
Statements | ||||||||||||||||
Annual percentage of inflation in CO2 price | 2% | |||||||||||||||
Sensitivity scenario one | Oil and gas prices | ||||||||||||||||
Statements | ||||||||||||||||
Reasonably possible decrease in key assumption (as a percent) | 10% | |||||||||||||||
Sensitivity scenario two | Oil and gas prices | ||||||||||||||||
Statements | ||||||||||||||||
Reasonably possible decrease in key assumption (as a percent) | 20% | |||||||||||||||
Europe | Forecast | ||||||||||||||||
Statements | ||||||||||||||||
Gas price | 3.9 | 11 | 14 | 17 | 20 | 8 | ||||||||||
United States | Forecast | ||||||||||||||||
Statements | ||||||||||||||||
Gas price | 1.8 | 3 | ||||||||||||||
Asia | Forecast | ||||||||||||||||
Statements | ||||||||||||||||
Gas price | 5.2 | 12 | 15 | 18 | 21 | 9 | ||||||||||
Minimum | ||||||||||||||||
Statements | ||||||||||||||||
CO2 price | $ / t | 100 | |||||||||||||||
Pre-tax discount rate (as a percent) | 7% | |||||||||||||||
Maximum | ||||||||||||||||
Statements | ||||||||||||||||
Pre-tax discount rate (as a percent) | 14% |
Notes to the Consolidated Fin_5
Notes to the Consolidated Financial Statements - Russian-Ukrainian conflict (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||
Dec. 31, 2022 | Jul. 18, 2022 | Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Statements | |||||||||
Asset impairments recorded in net income, TotalEnergies share | $ (15,743) | $ (910) | $ (8,465) | ||||||
NET INCOME - TotalEnergies SHARE | 20,526 | 16,032 | (7,242) | ||||||
Capital employed | $ 131,283 | $ 131,283 | 131,283 | 143,853 | $ 143,224 | ||||
Russia | |||||||||
Statements | |||||||||
Asset impairments recorded in net income, TotalEnergies share | (14,756) | ||||||||
NET INCOME - TotalEnergies SHARE | (11,578) | 1,995 | |||||||
Operating cash flow | 1,480 | 1,163 | |||||||
Provisions on capital employed | (1,752) | (1,752) | (1,752) | ||||||
Capital employed | $ 2,874 | 2,874 | 2,874 | 13,652 | |||||
Novatek | |||||||||
Statements | |||||||||
Impairment | (4,092) | $ (3,056) | $ (3,513) | ||||||
Stake held in associate (as a percent) | 19.40% | ||||||||
Capital employed | 6,243 | ||||||||
Terneftegaz JSC | |||||||||
Statements | |||||||||
Percentage of ownership agreed to be sold | 49% | ||||||||
Capital employed | 573 | ||||||||
Arctic LNG 2 LLC | |||||||||
Statements | |||||||||
Impairment | $ (4,095) | ||||||||
Capital employed | 2,450 | ||||||||
Yamal LNG | |||||||||
Statements | |||||||||
Capital employed | $ 4,626 | $ 4,626 | $ 4,626 | 4,333 | |||||
Kharyaga | |||||||||
Statements | |||||||||
Capital employed | $ 53 |
Changes in TotalEnergies' per_2
Changes in TotalEnergies' perimeter - Main acquisitions and divestments (Details) home in Millions, $ in Millions | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2022 | Sep. 30, 2022 USD ($) shares | Apr. 27, 2022 USD ($) bbl / d | Apr. 26, 2022 bbl / d | Feb. 28, 2022 USD ($) home nmi GW | Sep. 30, 2022 USD ($) shares | Mar. 31, 2022 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | Feb. 28, 2022 km | Feb. 28, 2022 mi² | Feb. 28, 2022 km² | |
Main acquisitions and divestments | |||||||||||||
Asset impairments recorded in operating income | $ (821) | $ (759) | $ (8,952) | ||||||||||
Asset impairments recorded in net income, TotalEnergies share | $ (15,743) | (910) | $ (8,465) | ||||||||||
Clearway Energy Group | |||||||||||||
Main acquisitions and divestments | |||||||||||||
Percentage of voting interest acquired | 50% | 50% | |||||||||||
Impact on net income, TotalEnergies' share, of acquisition | $ 1,391 | ||||||||||||
Novatek | |||||||||||||
Main acquisitions and divestments | |||||||||||||
Stake held in associate (as a percent) | 19.40% | ||||||||||||
Subsidiary that holds ownership in SunPower Corporation | SunPower Corporation | |||||||||||||
Main acquisitions and divestments | |||||||||||||
Percentage of ownership interest in subsidiary | 50.50% | 50.50% | 50.50% | ||||||||||
Myanmar | |||||||||||||
Main acquisitions and divestments | |||||||||||||
Asset impairments recorded in operating income | (201) | ||||||||||||
Asset impairments recorded in net income, TotalEnergies share | $ (305) | ||||||||||||
North Platte | |||||||||||||
Main acquisitions and divestments | |||||||||||||
Asset impairments recorded in net income, TotalEnergies share | $ (957) | ||||||||||||
Global Infrastructure Partners | Clearway Energy Group | |||||||||||||
Main acquisitions and divestments | |||||||||||||
Amount of cash transferred | $ 1,600 | $ 1,600 | |||||||||||
Global Infrastructure Partners | Clearway Energy Group | Subsidiary that holds ownership in SunPower Corporation | |||||||||||||
Main acquisitions and divestments | |||||||||||||
Percentage of equity interest transferred | 50% | 50% | |||||||||||
Number of shares decreasing percentage of equity interest transferred | shares | 1 | 1 | |||||||||||
Maritime lease area OCS-A 0538 | |||||||||||||
Main acquisitions and divestments | |||||||||||||
Consideration for development of an offshore wind farm | $ 795 | ||||||||||||
Percentage of development of an offshore wind farm | 100% | ||||||||||||
Distance from coast | 47 | 87 | |||||||||||
Lease area | 132 | 341 | |||||||||||
Minimum generation capacity | GW | 3 | ||||||||||||
Number of homes where power can be provided | home | 1 | ||||||||||||
Pre-salt oil fields | |||||||||||||
Main acquisitions and divestments | |||||||||||||
Intangible assets | $ 543 | ||||||||||||
Tangible assets | 4,512 | ||||||||||||
Other assets and liabilities | (437) | ||||||||||||
Fair value of consideration | $ 4,618 | ||||||||||||
Pre-salt Atapu oil field | |||||||||||||
Main acquisitions and divestments | |||||||||||||
Production of project | bbl / d | 160,000 | ||||||||||||
Pre-salt Atapu oil field | Forecast | |||||||||||||
Main acquisitions and divestments | |||||||||||||
Production of project | bbl / d | 350,000 | ||||||||||||
Pre-salt Atapu oil field | Petrobras | |||||||||||||
Main acquisitions and divestments | |||||||||||||
Percentage of interest acquired | 22.50% | ||||||||||||
Pre-salt Sepia oil field | |||||||||||||
Main acquisitions and divestments | |||||||||||||
Production of project | bbl / d | 180,000 | ||||||||||||
Pre-salt Sepia oil field | Forecast | |||||||||||||
Main acquisitions and divestments | |||||||||||||
Production of project | bbl / d | 350,000 | ||||||||||||
Pre-salt Sepia oil field | Petrobras | |||||||||||||
Main acquisitions and divestments | |||||||||||||
Percentage of interest acquired | 28% |
Business segment information -
Business segment information - Information by business segment (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 USD ($) segment | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Business segment information | |||
Number of business segments | segment | 4 | ||
Sales | $ 280,999 | $ 205,863 | $ 140,685 |
Excise taxes | (17,689) | (21,229) | (20,981) |
Revenues from sales | 263,310 | 184,634 | 119,704 |
Operating expenses | (200,536) | (146,256) | (103,755) |
Depreciation, depletion and impairment of tangible assets and mineral interests | (12,221) | (13,556) | (22,264) |
Operating income | 50,553 | 24,822 | (6,315) |
Net income (loss) from equity affiliates and other items | (6,024) | 2,656 | 1,407 |
Tax on net operating income | (22,207) | (9,762) | (660) |
Net operating income | 22,322 | 17,716 | (5,568) |
Net cost of net debt | (1,278) | (1,350) | (1,768) |
Non-controlling interests | (518) | (334) | 94 |
NET INCOME - TotalEnergies SHARE | 20,526 | 16,032 | (7,242) |
Total expenditures | 19,802 | 16,589 | 15,534 |
Total divestments | 4,686 | 2,933 | 2,455 |
Cash flow from operating activities | 47,367 | 30,410 | 14,803 |
Property, plant and equipment, intangible assets, net | 139,032 | 139,043 | 141,863 |
Investments & loans in equity affiliates | 27,889 | 31,053 | 27,976 |
Other non-current assets | 8,488 | 9,822 | 11,833 |
Working capital | (10,237) | (2,558) | (3,813) |
Provisions and other non-current liabilities | (34,252) | (33,845) | (35,168) |
Assets and liabilities classified as held for sale | 363 | 338 | 533 |
CAPITAL EMPLOYED (BUSINESS SEGMENT INFORMATION) | 131,283 | 143,853 | 143,224 |
Intercompany | |||
Business segment information | |||
Sales | (109,728) | (67,498) | (38,444) |
Revenues from sales | (109,728) | (67,498) | (38,444) |
Operating expenses | 109,728 | 67,498 | 38,444 |
Integrated Gas, Renewables & Power | |||
Business segment information | |||
Sales | 48,753 | 30,704 | 15,629 |
Depreciation, depletion and impairment of tangible assets and mineral interests | (1,402) | (1,650) | (2,312) |
Operating income | 8,580 | 3,350 | (527) |
Net income (loss) from equity affiliates and other items | 2,766 | 2,745 | 794 |
Tax on net operating income | (1,712) | (602) | 71 |
Net operating income | 9,634 | 5,493 | 338 |
Total expenditures | 6,475 | 6,341 | 6,230 |
Total divestments | 3,427 | 1,350 | 1,152 |
Cash flow from operating activities | 9,670 | 827 | 2,129 |
Property, plant and equipment, intangible assets, net | 30,885 | 31,525 | 30,704 |
Investments & loans in equity affiliates | 20,869 | 20,501 | 16,455 |
Other non-current assets | 3,669 | 3,359 | 3,647 |
Working capital | (432) | 5,058 | (1,004) |
Provisions and other non-current liabilities | (5,250) | (4,495) | (4,566) |
Assets and liabilities classified as held for sale | 155 | 30 | 375 |
CAPITAL EMPLOYED (BUSINESS SEGMENT INFORMATION) | 49,896 | 55,978 | 45,611 |
Integrated Gas, Renewables & Power | Business segments and Corporate | |||
Business segment information | |||
Revenues from sales | 55,753 | 34,964 | 17,632 |
Operating expenses | (45,771) | (29,964) | (15,847) |
Integrated Gas, Renewables & Power | Intercompany | |||
Business segment information | |||
Sales | (7,000) | (4,260) | (2,003) |
Exploration & Production | |||
Business segment information | |||
Sales | 9,942 | 7,246 | 4,973 |
Depreciation, depletion and impairment of tangible assets and mineral interests | (8,115) | (9,110) | (16,998) |
Operating income | 32,496 | 16,310 | (5,514) |
Net income (loss) from equity affiliates and other items | (9,943) | (760) | 697 |
Tax on net operating income | (17,445) | (7,506) | (208) |
Net operating income | 5,108 | 8,044 | (5,025) |
Total expenditures | 10,646 | 7,276 | 6,782 |
Total divestments | 807 | 894 | 819 |
Cash flow from operating activities | 27,654 | 22,009 | 9,922 |
Property, plant and equipment, intangible assets, net | 87,833 | 86,418 | 89,207 |
Investments & loans in equity affiliates | 2,138 | 6,337 | 7,328 |
Other non-current assets | 3,069 | 4,441 | 5,093 |
Working capital | (2,831) | (1,216) | 1,968 |
Provisions and other non-current liabilities | (24,633) | (24,613) | (24,909) |
Assets and liabilities classified as held for sale | 208 | 308 | 241 |
CAPITAL EMPLOYED (BUSINESS SEGMENT INFORMATION) | 65,784 | 71,675 | 78,928 |
Exploration & Production | Business segments and Corporate | |||
Business segment information | |||
Revenues from sales | 65,132 | 42,142 | 23,456 |
Operating expenses | (24,521) | (16,722) | (11,972) |
Exploration & Production | Intercompany | |||
Business segment information | |||
Sales | (55,190) | (34,896) | (18,483) |
Refining & Chemicals | |||
Business segment information | |||
Sales | 121,618 | 87,600 | 56,615 |
Excise taxes | (737) | (1,108) | (2,405) |
Depreciation, depletion and impairment of tangible assets and mineral interests | (1,533) | (1,583) | (1,878) |
Operating income | 8,308 | 3,564 | (814) |
Net income (loss) from equity affiliates and other items | 885 | 518 | (393) |
Tax on net operating income | (2,544) | (1,068) | 59 |
Net operating income | 6,649 | 3,014 | (1,148) |
Total expenditures | 1,391 | 1,638 | 1,325 |
Total divestments | 214 | 348 | 149 |
Cash flow from operating activities | 8,663 | 6,473 | 2,438 |
Property, plant and equipment, intangible assets, net | 11,525 | 11,884 | 12,486 |
Investments & loans in equity affiliates | 4,431 | 3,729 | 3,638 |
Other non-current assets | 570 | 608 | 791 |
Working capital | (3,293) | (2,558) | (264) |
Provisions and other non-current liabilities | (3,760) | (3,840) | (4,658) |
Assets and liabilities classified as held for sale | (83) | ||
CAPITAL EMPLOYED (BUSINESS SEGMENT INFORMATION) | 9,473 | 9,823 | 11,910 |
Refining & Chemicals | Business segments and Corporate | |||
Business segment information | |||
Revenues from sales | 166,738 | 114,129 | 71,588 |
Operating expenses | (156,897) | (108,982) | (70,524) |
Refining & Chemicals | Intercompany | |||
Business segment information | |||
Sales | (45,857) | (27,637) | (17,378) |
Marketing & Services | |||
Business segment information | |||
Sales | 100,661 | 80,288 | 63,451 |
Excise taxes | (16,952) | (20,121) | (18,576) |
Depreciation, depletion and impairment of tangible assets and mineral interests | (1,033) | (1,100) | (984) |
Operating income | 2,363 | 2,359 | 1,441 |
Net income (loss) from equity affiliates and other items | (20) | 108 | 37 |
Tax on net operating income | (787) | (738) | (515) |
Net operating income | 1,556 | 1,729 | 963 |
Total expenditures | 1,186 | 1,242 | 1,052 |
Total divestments | 222 | 319 | 158 |
Cash flow from operating activities | 3,124 | 2,333 | 2,101 |
Property, plant and equipment, intangible assets, net | 8,120 | 8,578 | 8,734 |
Investments & loans in equity affiliates | 451 | 486 | 555 |
Other non-current assets | 1,050 | 1,105 | 1,260 |
Working capital | (288) | 378 | (43) |
Provisions and other non-current liabilities | (1,303) | (1,478) | (1,641) |
CAPITAL EMPLOYED (BUSINESS SEGMENT INFORMATION) | 8,030 | 9,069 | 8,865 |
Marketing & Services | Business segments and Corporate | |||
Business segment information | |||
Revenues from sales | 85,142 | 60,618 | 45,232 |
Operating expenses | (81,746) | (57,159) | (42,807) |
Marketing & Services | Intercompany | |||
Business segment information | |||
Sales | (1,433) | (451) | (357) |
Corporate | |||
Business segment information | |||
Sales | 25 | 25 | 17 |
Depreciation, depletion and impairment of tangible assets and mineral interests | (138) | (113) | (92) |
Operating income | (1,194) | (761) | (901) |
Net income (loss) from equity affiliates and other items | 288 | 45 | 272 |
Tax on net operating income | 281 | 152 | (67) |
Net operating income | (625) | (564) | (696) |
Total expenditures | 104 | 92 | 145 |
Total divestments | 16 | 22 | 177 |
Cash flow from operating activities | (1,744) | (1,232) | (1,787) |
Property, plant and equipment, intangible assets, net | 669 | 638 | 732 |
Other non-current assets | 130 | 309 | 1,042 |
Working capital | (3,393) | (4,220) | (4,470) |
Provisions and other non-current liabilities | 694 | 581 | 606 |
CAPITAL EMPLOYED (BUSINESS SEGMENT INFORMATION) | (1,900) | (2,692) | (2,090) |
Corporate | Business segments and Corporate | |||
Business segment information | |||
Revenues from sales | 273 | 279 | 240 |
Operating expenses | (1,329) | (927) | (1,049) |
Corporate | Intercompany | |||
Business segment information | |||
Sales | (248) | (254) | (223) |
Adjustments | |||
Business segment information | |||
Sales | 104 | (44) | 20 |
Revenues from sales | 104 | (44) | 20 |
Operating expenses | (168) | 1,290 | (2,502) |
Depreciation, depletion and impairment of tangible assets and mineral interests | 95 | (821) | (8,952) |
Operating income | 31 | 425 | (11,434) |
Net income (loss) from equity affiliates and other items | (14,364) | (2,113) | (922) |
Tax on net operating income | (1,557) | (362) | 982 |
Net operating income | (15,890) | (2,050) | (11,374) |
Net cost of net debt | 277 | 25 | (29) |
Non-controlling interests | (58) | (3) | 102 |
NET INCOME - TotalEnergies SHARE | (15,671) | (2,028) | (11,301) |
Adjustments | Integrated Gas, Renewables & Power | |||
Business segment information | |||
Sales | 104 | (44) | 20 |
Depreciation, depletion and impairment of tangible assets and mineral interests | (122) | (342) | (953) |
Operating income | 1,069 | (657) | (1,356) |
Net income (loss) from equity affiliates and other items | (3,490) | (215) | (382) |
Tax on net operating income | (89) | 122 | 298 |
Net operating income | (2,510) | (750) | (1,440) |
NET INCOME - TotalEnergies SHARE | (2,556) | (739) | (1,415) |
Adjustments | Integrated Gas, Renewables & Power | Business segments and Corporate | |||
Business segment information | |||
Revenues from sales | 104 | (44) | 20 |
Operating expenses | 1,087 | (271) | (423) |
Adjustments | Exploration & Production | |||
Business segment information | |||
Depreciation, depletion and impairment of tangible assets and mineral interests | 298 | (418) | (7,693) |
Operating income | (687) | (605) | (7,830) |
Net income (loss) from equity affiliates and other items | (10,925) | (1,839) | 54 |
Tax on net operating income | (759) | 49 | 388 |
Net operating income | (12,371) | (2,395) | (7,388) |
NET INCOME - TotalEnergies SHARE | (12,234) | (2,352) | (7,357) |
Adjustments | Exploration & Production | Business segments and Corporate | |||
Business segment information | |||
Operating expenses | (985) | (187) | (137) |
Adjustments | Refining & Chemicals | |||
Business segment information | |||
Depreciation, depletion and impairment of tangible assets and mineral interests | (25) | (306) | |
Operating income | 130 | 1,445 | (1,858) |
Net income (loss) from equity affiliates and other items | (32) | 56 | (677) |
Tax on net operating income | (751) | (396) | 348 |
Net operating income | (653) | 1,105 | (2,187) |
NET INCOME - TotalEnergies SHARE | (667) | 1,086 | (2,181) |
Adjustments | Refining & Chemicals | Business segments and Corporate | |||
Business segment information | |||
Operating expenses | 130 | 1,470 | (1,552) |
Adjustments | Marketing & Services | |||
Business segment information | |||
Depreciation, depletion and impairment of tangible assets and mineral interests | (72) | (36) | |
Operating income | 128 | 242 | (330) |
Net income (loss) from equity affiliates and other items | (23) | (61) | (24) |
Tax on net operating income | (99) | (70) | 93 |
Net operating income | 6 | 111 | (261) |
NET INCOME - TotalEnergies SHARE | (8) | 98 | (228) |
Adjustments | Marketing & Services | Business segments and Corporate | |||
Business segment information | |||
Operating expenses | 200 | 278 | (330) |
Adjustments | Corporate | |||
Business segment information | |||
Depreciation, depletion and impairment of tangible assets and mineral interests | (9) | ||
Operating income | (609) | (60) | |
Net income (loss) from equity affiliates and other items | 106 | (54) | 107 |
Tax on net operating income | 141 | (67) | (145) |
Net operating income | (362) | (121) | (98) |
NET INCOME - TotalEnergies SHARE | (206) | (121) | (120) |
Adjustments | Corporate | Business segments and Corporate | |||
Business segment information | |||
Operating expenses | (600) | (60) | |
Adjustments - Inventory valuation effect | |||
Business segment information | |||
Operating income | 500 | 1,796 | (1,440) |
NET INCOME - TotalEnergies SHARE | 501 | 1,495 | (1,280) |
CAPITAL EMPLOYED (BUSINESS SEGMENT INFORMATION) | (2,472) | (2,040) | (607) |
Adjustments - Inventory valuation effect | Refining & Chemicals | |||
Business segment information | |||
Operating income | 239 | 1,481 | (1,244) |
Net operating income | 336 | 1,296 | (1,165) |
NET INCOME - TotalEnergies SHARE | 323 | 1,277 | (1,160) |
CAPITAL EMPLOYED (BUSINESS SEGMENT INFORMATION) | (2,035) | (1,754) | (535) |
Adjustments - Inventory valuation effect | Marketing & Services | |||
Business segment information | |||
Operating income | 261 | 315 | (196) |
Net operating income | 194 | 236 | (137) |
NET INCOME - TotalEnergies SHARE | 178 | 218 | (120) |
CAPITAL EMPLOYED (BUSINESS SEGMENT INFORMATION) | (437) | (286) | (72) |
Adjusted | |||
Business segment information | |||
Sales | 280,895 | 205,907 | 140,665 |
Excise taxes | (17,689) | (21,229) | (20,981) |
Revenues from sales | 263,206 | 184,678 | 119,684 |
Operating expenses | (200,368) | (147,546) | (101,253) |
Depreciation, depletion and impairment of tangible assets and mineral interests | (12,316) | (12,735) | (13,312) |
Operating income | 50,522 | 24,397 | 5,119 |
Net income (loss) from equity affiliates and other items | 8,340 | 4,769 | 2,329 |
Tax on net operating income | (20,650) | (9,400) | (1,642) |
Net operating income | 38,212 | 19,766 | 5,806 |
Net cost of net debt | (1,555) | (1,375) | (1,739) |
Non-controlling interests | (460) | (331) | (8) |
NET INCOME - TotalEnergies SHARE | 36,197 | 18,060 | 4,059 |
CAPITAL EMPLOYED (BUSINESS SEGMENT INFORMATION) | $ 128,811 | $ 141,813 | $ 142,617 |
ROACE as a percentage | 28% | 14% | 4% |
Adjusted | Intercompany | |||
Business segment information | |||
Sales | $ (109,728) | $ (67,498) | $ (38,444) |
Revenues from sales | (109,728) | (67,498) | (38,444) |
Operating expenses | 109,728 | 67,498 | 38,444 |
Adjusted | Integrated Gas, Renewables & Power | |||
Business segment information | |||
Sales | 48,649 | 30,748 | 15,609 |
Depreciation, depletion and impairment of tangible assets and mineral interests | (1,280) | (1,308) | (1,359) |
Operating income | 7,511 | 4,007 | 829 |
Net income (loss) from equity affiliates and other items | 6,256 | 2,960 | 1,176 |
Tax on net operating income | (1,623) | (724) | (227) |
Net operating income | 12,144 | 6,243 | 1,778 |
CAPITAL EMPLOYED (BUSINESS SEGMENT INFORMATION) | $ 49,896 | $ 55,978 | $ 45,611 |
ROACE as a percentage | 23% | 12% | 4% |
Adjusted | Integrated Gas, Renewables & Power | Business segments and Corporate | |||
Business segment information | |||
Revenues from sales | $ 55,649 | $ 35,008 | $ 17,612 |
Operating expenses | (46,858) | (29,693) | (15,424) |
Adjusted | Integrated Gas, Renewables & Power | Intercompany | |||
Business segment information | |||
Sales | (7,000) | (4,260) | (2,003) |
Adjusted | Exploration & Production | |||
Business segment information | |||
Sales | 9,942 | 7,246 | 4,973 |
Depreciation, depletion and impairment of tangible assets and mineral interests | (8,413) | (8,692) | (9,305) |
Operating income | 33,183 | 16,915 | 2,316 |
Net income (loss) from equity affiliates and other items | 982 | 1,079 | 643 |
Tax on net operating income | (16,686) | (7,555) | (596) |
Net operating income | 17,479 | 10,439 | 2,363 |
CAPITAL EMPLOYED (BUSINESS SEGMENT INFORMATION) | $ 65,784 | $ 71,675 | $ 78,928 |
ROACE as a percentage | 25% | 14% | 3% |
Adjusted | Exploration & Production | Business segments and Corporate | |||
Business segment information | |||
Revenues from sales | $ 65,132 | $ 42,142 | $ 23,456 |
Operating expenses | (23,536) | (16,535) | (11,835) |
Adjusted | Exploration & Production | Intercompany | |||
Business segment information | |||
Sales | (55,190) | (34,896) | (18,483) |
Adjusted | Refining & Chemicals | |||
Business segment information | |||
Sales | 121,618 | 87,600 | 56,615 |
Excise taxes | (737) | (1,108) | (2,405) |
Depreciation, depletion and impairment of tangible assets and mineral interests | (1,533) | (1,558) | (1,572) |
Operating income | 8,178 | 2,119 | 1,044 |
Net income (loss) from equity affiliates and other items | 917 | 462 | 284 |
Tax on net operating income | (1,793) | (672) | (289) |
Net operating income | 7,302 | 1,909 | 1,039 |
CAPITAL EMPLOYED (BUSINESS SEGMENT INFORMATION) | $ 7,438 | $ 8,069 | $ 11,375 |
ROACE as a percentage | 94% | 20% | 9% |
Adjusted | Refining & Chemicals | Business segments and Corporate | |||
Business segment information | |||
Revenues from sales | $ 166,738 | $ 114,129 | $ 71,588 |
Operating expenses | (157,027) | (110,452) | (68,972) |
Adjusted | Refining & Chemicals | Intercompany | |||
Business segment information | |||
Sales | (45,857) | (27,637) | (17,378) |
Adjusted | Marketing & Services | |||
Business segment information | |||
Sales | 100,661 | 80,288 | 63,451 |
Excise taxes | (16,952) | (20,121) | (18,576) |
Depreciation, depletion and impairment of tangible assets and mineral interests | (961) | (1,064) | (984) |
Operating income | 2,235 | 2,117 | 1,771 |
Net income (loss) from equity affiliates and other items | 3 | 169 | 61 |
Tax on net operating income | (688) | (668) | (608) |
Net operating income | 1,550 | 1,618 | 1,224 |
CAPITAL EMPLOYED (BUSINESS SEGMENT INFORMATION) | $ 7,593 | $ 8,783 | $ 8,793 |
ROACE as a percentage | 19% | 18% | 14% |
Adjusted | Marketing & Services | Business segments and Corporate | |||
Business segment information | |||
Revenues from sales | $ 85,142 | $ 60,618 | $ 45,232 |
Operating expenses | (81,946) | (57,437) | (42,477) |
Adjusted | Marketing & Services | Intercompany | |||
Business segment information | |||
Sales | (1,433) | (451) | (357) |
Adjusted | Corporate | |||
Business segment information | |||
Sales | 25 | 25 | 17 |
Depreciation, depletion and impairment of tangible assets and mineral interests | (129) | (113) | (92) |
Operating income | (585) | (761) | (841) |
Net income (loss) from equity affiliates and other items | 182 | 99 | 165 |
Tax on net operating income | 140 | 219 | 78 |
Net operating income | (263) | (443) | (598) |
CAPITAL EMPLOYED (BUSINESS SEGMENT INFORMATION) | (1,900) | (2,692) | (2,090) |
Adjusted | Corporate | Business segments and Corporate | |||
Business segment information | |||
Revenues from sales | 273 | 279 | 240 |
Operating expenses | (729) | (927) | (989) |
Adjusted | Corporate | Intercompany | |||
Business segment information | |||
Sales | $ (248) | $ (254) | $ (223) |
Business segment information _2
Business segment information - Reconciliation with consolidated financial statements (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Business segment information | |||
Sales | $ 280,999 | $ 205,863 | $ 140,685 |
Excise taxes | (17,689) | (21,229) | (20,981) |
Revenues from sales | 263,310 | 184,634 | 119,704 |
Purchases, net of inventory variation | (169,448) | (118,622) | (77,486) |
Other operating expenses | (29,789) | (26,894) | (25,538) |
Exploration costs | (1,299) | (740) | (731) |
Depreciation, depletion and impairment of tangible assets and mineral interests | (12,221) | (13,556) | (22,264) |
Other income | 2,849 | 1,312 | 2,237 |
Other expense | (7,344) | (2,317) | (1,506) |
Financial interest on debt | (2,386) | (1,904) | (2,147) |
Financial income and expense from cash & cash equivalents | 1,143 | 379 | 37 |
Cost of net debt | (1,243) | (1,525) | (2,110) |
Other financial income | 896 | 762 | 914 |
Other financial expense | (533) | (539) | (690) |
Net income (loss) from equity affiliates | (1,892) | 3,438 | 452 |
Income taxes | (22,242) | (9,587) | (318) |
CONSOLIDATED NET INCOME | 21,044 | 16,366 | (7,336) |
TotalEnergies share | 20,526 | 16,032 | (7,242) |
Non-controlling interests | 518 | 334 | (94) |
Adjusted | |||
Business segment information | |||
Sales | 280,895 | 205,907 | 140,665 |
Excise taxes | (17,689) | (21,229) | (20,981) |
Revenues from sales | 263,206 | 184,678 | 119,684 |
Purchases, net of inventory variation | (171,049) | (120,160) | (75,672) |
Other operating expenses | (28,745) | (26,754) | (24,850) |
Exploration costs | (574) | (632) | (731) |
Depreciation, depletion and impairment of tangible assets and mineral interests | (12,316) | (12,735) | (13,312) |
Other income | 1,349 | 1,300 | 1,405 |
Other expense | (1,542) | (944) | (689) |
Financial interest on debt | (2,386) | (1,904) | (2,140) |
Financial income and expense from cash & cash equivalents | 746 | 340 | 68 |
Cost of net debt | (1,640) | (1,564) | (2,072) |
Other financial income | 812 | 762 | 914 |
Other financial expense | (533) | (539) | (689) |
Net income (loss) from equity affiliates | 8,254 | 4,190 | 1,388 |
Income taxes | (20,565) | (9,211) | (1,309) |
CONSOLIDATED NET INCOME | 36,657 | 18,391 | 4,067 |
TotalEnergies share | 36,197 | 18,060 | 4,059 |
Non-controlling interests | 460 | 331 | 8 |
Adjustments | |||
Business segment information | |||
Sales | 104 | (44) | 20 |
Revenues from sales | 104 | (44) | 20 |
Purchases, net of inventory variation | 1,601 | 1,538 | (1,814) |
Other operating expenses | (1,044) | (140) | (688) |
Exploration costs | (725) | (108) | |
Depreciation, depletion and impairment of tangible assets and mineral interests | 95 | (821) | (8,952) |
Other income | 1,500 | 12 | 832 |
Other expense | (5,802) | (1,373) | (817) |
Financial interest on debt | (7) | ||
Financial income and expense from cash & cash equivalents | 397 | 39 | (31) |
Cost of net debt | 397 | 39 | (38) |
Other financial income | 84 | ||
Other financial expense | (1) | ||
Net income (loss) from equity affiliates | (10,146) | (752) | (936) |
Income taxes | (1,677) | (376) | 991 |
CONSOLIDATED NET INCOME | (15,613) | (2,025) | (11,403) |
TotalEnergies share | (15,671) | (2,028) | (11,301) |
Non-controlling interests | $ 58 | $ 3 | $ (102) |
Business segment information _3
Business segment information - Adjustment items (Details) - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||||
Dec. 31, 2022 | Sep. 30, 2022 | Sep. 30, 2022 | Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Business segment information | ||||||||||
Operating income | $ 50,553 | $ 24,822 | $ (6,315) | |||||||
NET INCOME - TotalEnergies SHARE | 20,526 | 16,032 | (7,242) | |||||||
Asset impairments recorded in net income, TotalEnergies share | (15,743) | (910) | (8,465) | |||||||
Russia | ||||||||||
Business segment information | ||||||||||
NET INCOME - TotalEnergies SHARE | (11,578) | 1,995 | ||||||||
Asset impairments recorded in net income, TotalEnergies share | (14,756) | |||||||||
Subsidiary that holds ownership in SunPower Corporation | ||||||||||
Business segment information | ||||||||||
Gain (loss) recognised on partial disposal of interest in subsidiary | 1,391 | |||||||||
SunPower Corporation | Subsidiary that holds ownership in SunPower Corporation | ||||||||||
Business segment information | ||||||||||
Percentage of ownership interest in subsidiary | 50.50% | 50.50% | 50.50% | |||||||
Arctic LNG 2 LLC | ||||||||||
Business segment information | ||||||||||
Impairment | $ (4,095) | |||||||||
Novatek | ||||||||||
Business segment information | ||||||||||
Impairment | $ (4,092) | $ (3,056) | $ (3,513) | |||||||
Adjustments | ||||||||||
Business segment information | ||||||||||
Operating income | 31 | 425 | (11,434) | |||||||
NET INCOME - TotalEnergies SHARE | (15,671) | (2,028) | (11,301) | |||||||
Adjustments - Inventory valuation effect | ||||||||||
Business segment information | ||||||||||
Operating income | 500 | 1,796 | (1,440) | |||||||
NET INCOME - TotalEnergies SHARE | 501 | 1,495 | (1,280) | |||||||
Adjustments - Effect of changes in fair value | ||||||||||
Business segment information | ||||||||||
Operating income | 1,248 | (217) | 20 | |||||||
NET INCOME - TotalEnergies SHARE | 1,138 | (194) | 23 | |||||||
Adjustments - Restructuring charges | ||||||||||
Business segment information | ||||||||||
Operating income | (30) | (86) | (104) | |||||||
NET INCOME - TotalEnergies SHARE | (42) | (308) | (364) | |||||||
Adjustments - Asset impairment and provisions charges | ||||||||||
Business segment information | ||||||||||
Operating income | (821) | (759) | (8,952) | |||||||
NET INCOME - TotalEnergies SHARE | (15,743) | (910) | (8,465) | |||||||
Adjustments - Gains (losses) on disposals of assets | ||||||||||
Business segment information | ||||||||||
Operating income | (170) | |||||||||
NET INCOME - TotalEnergies SHARE | 1,391 | (1,726) | 104 | |||||||
Adjustments - Gains (losses) on disposals of assets | PetroCedeno | ||||||||||
Business segment information | ||||||||||
NET INCOME - TotalEnergies SHARE | (1,379) | |||||||||
Adjustments - Other items | ||||||||||
Business segment information | ||||||||||
Operating income | (866) | (139) | (958) | |||||||
NET INCOME - TotalEnergies SHARE | (2,916) | (385) | (1,319) | |||||||
Integrated Gas, Renewables & Power | ||||||||||
Business segment information | ||||||||||
Operating income | 8,580 | 3,350 | (527) | |||||||
Asset impairments recorded in net income, TotalEnergies share | (4,481) | |||||||||
Integrated Gas, Renewables & Power | Russia | ||||||||||
Business segment information | ||||||||||
Asset impairments recorded in net income, TotalEnergies share | (4,142) | |||||||||
Integrated Gas, Renewables & Power | Adjustments | ||||||||||
Business segment information | ||||||||||
Operating income | 1,069 | (657) | (1,356) | |||||||
NET INCOME - TotalEnergies SHARE | (2,556) | (739) | (1,415) | |||||||
Integrated Gas, Renewables & Power | Adjustments - Effect of changes in fair value | ||||||||||
Business segment information | ||||||||||
Operating income | 1,248 | (217) | 20 | |||||||
NET INCOME - TotalEnergies SHARE | 1,138 | (194) | 23 | |||||||
Integrated Gas, Renewables & Power | Adjustments - Restructuring charges | ||||||||||
Business segment information | ||||||||||
Operating income | (25) | (17) | (39) | |||||||
NET INCOME - TotalEnergies SHARE | (28) | (17) | (43) | |||||||
Integrated Gas, Renewables & Power | Adjustments - Asset impairment and provisions charges | ||||||||||
Business segment information | ||||||||||
Operating income | (126) | (342) | (953) | |||||||
NET INCOME - TotalEnergies SHARE | (4,481) | (332) | (829) | |||||||
Integrated Gas, Renewables & Power | Adjustments - Gains (losses) on disposals of assets | ||||||||||
Business segment information | ||||||||||
NET INCOME - TotalEnergies SHARE | 1,391 | |||||||||
Integrated Gas, Renewables & Power | Adjustments - Other items | ||||||||||
Business segment information | ||||||||||
Operating income | (28) | (81) | (384) | |||||||
NET INCOME - TotalEnergies SHARE | (576) | (196) | (566) | |||||||
Exploration & Production | ||||||||||
Business segment information | ||||||||||
Operating income | 32,496 | 16,310 | (5,514) | |||||||
Asset impairments recorded in net income, TotalEnergies share | (11,141) | |||||||||
Exploration & Production | Russia | ||||||||||
Business segment information | ||||||||||
Asset impairments recorded in net income, TotalEnergies share | (10,527) | |||||||||
Exploration & Production | Adjustments | ||||||||||
Business segment information | ||||||||||
Operating income | (687) | (605) | (7,830) | |||||||
NET INCOME - TotalEnergies SHARE | (12,234) | (2,352) | (7,357) | |||||||
Exploration & Production | Adjustments - Restructuring charges | ||||||||||
Business segment information | ||||||||||
Operating income | (59) | (35) | ||||||||
NET INCOME - TotalEnergies SHARE | (75) | (29) | ||||||||
Exploration & Production | Adjustments - Asset impairment and provisions charges | ||||||||||
Business segment information | ||||||||||
Operating income | (588) | (356) | (7,693) | |||||||
NET INCOME - TotalEnergies SHARE | (11,141) | (500) | (7,328) | |||||||
Exploration & Production | Adjustments - Gains (losses) on disposals of assets | ||||||||||
Business segment information | ||||||||||
Operating income | (170) | |||||||||
NET INCOME - TotalEnergies SHARE | (1,726) | |||||||||
Exploration & Production | Adjustments - Other items | ||||||||||
Business segment information | ||||||||||
Operating income | (99) | (20) | (102) | |||||||
NET INCOME - TotalEnergies SHARE | (1,093) | (51) | ||||||||
Refining & Chemicals | ||||||||||
Business segment information | ||||||||||
Operating income | 8,308 | 3,564 | (814) | |||||||
Refining & Chemicals | Adjustments | ||||||||||
Business segment information | ||||||||||
Operating income | 130 | 1,445 | (1,858) | |||||||
NET INCOME - TotalEnergies SHARE | (667) | 1,086 | (2,181) | |||||||
Refining & Chemicals | Adjustments - Inventory valuation effect | ||||||||||
Business segment information | ||||||||||
Operating income | 239 | 1,481 | (1,244) | |||||||
NET INCOME - TotalEnergies SHARE | 323 | 1,277 | (1,160) | |||||||
Refining & Chemicals | Adjustments - Restructuring charges | ||||||||||
Business segment information | ||||||||||
Operating income | (10) | (30) | ||||||||
NET INCOME - TotalEnergies SHARE | (118) | (292) | ||||||||
Refining & Chemicals | Adjustments - Asset impairment and provisions charges | ||||||||||
Business segment information | ||||||||||
Operating income | (25) | (306) | ||||||||
NET INCOME - TotalEnergies SHARE | (42) | (306) | ||||||||
Refining & Chemicals | Adjustments - Other items | ||||||||||
Business segment information | ||||||||||
Operating income | (109) | (1) | (278) | |||||||
NET INCOME - TotalEnergies SHARE | (990) | (31) | (423) | |||||||
Marketing & Services | ||||||||||
Business segment information | ||||||||||
Operating income | 2,363 | 2,359 | 1,441 | |||||||
Asset impairments recorded in net income, TotalEnergies share | (112) | |||||||||
Marketing & Services | Russia | ||||||||||
Business segment information | ||||||||||
Asset impairments recorded in net income, TotalEnergies share | (87) | |||||||||
Marketing & Services | Adjustments | ||||||||||
Business segment information | ||||||||||
Operating income | 128 | 242 | (330) | |||||||
NET INCOME - TotalEnergies SHARE | (8) | 98 | (228) | |||||||
Marketing & Services | Adjustments - Inventory valuation effect | ||||||||||
Business segment information | ||||||||||
Operating income | 261 | 315 | (196) | |||||||
NET INCOME - TotalEnergies SHARE | 178 | 218 | (120) | |||||||
Marketing & Services | Adjustments - Restructuring charges | ||||||||||
Business segment information | ||||||||||
Operating income | (5) | |||||||||
NET INCOME - TotalEnergies SHARE | (14) | (44) | ||||||||
Marketing & Services | Adjustments - Asset impairment and provisions charges | ||||||||||
Business segment information | ||||||||||
Operating income | (98) | (36) | ||||||||
NET INCOME - TotalEnergies SHARE | (112) | (36) | (2) | |||||||
Marketing & Services | Adjustments - Other items | ||||||||||
Business segment information | ||||||||||
Operating income | (30) | (37) | (134) | |||||||
NET INCOME - TotalEnergies SHARE | (60) | (40) | (106) | |||||||
Corporate | ||||||||||
Business segment information | ||||||||||
Operating income | (1,194) | (761) | (901) | |||||||
Corporate | Adjustments | ||||||||||
Business segment information | ||||||||||
Operating income | (609) | (60) | ||||||||
NET INCOME - TotalEnergies SHARE | (206) | (121) | (120) | |||||||
Corporate | Adjustments - Restructuring charges | ||||||||||
Business segment information | ||||||||||
NET INCOME - TotalEnergies SHARE | (54) | |||||||||
Corporate | Adjustments - Asset impairment and provisions charges | ||||||||||
Business segment information | ||||||||||
Operating income | (9) | |||||||||
NET INCOME - TotalEnergies SHARE | (9) | |||||||||
Corporate | Adjustments - Gains (losses) on disposals of assets | ||||||||||
Business segment information | ||||||||||
NET INCOME - TotalEnergies SHARE | 104 | |||||||||
Corporate | Adjustments - Other items | ||||||||||
Business segment information | ||||||||||
Operating income | (600) | (60) | ||||||||
NET INCOME - TotalEnergies SHARE | $ (197) | $ (67) | $ (224) |
Business segment information _4
Business segment information - Asset impairment (Details) $ in Millions | 1 Months Ended | 3 Months Ended | 12 Months Ended | 84 Months Ended | 96 Months Ended | 168 Months Ended | 216 Months Ended | 336 Months Ended | |||||||||
Jan. 01, 2029 | Jun. 30, 2020 | Mar. 31, 2022 USD ($) | Dec. 31, 2050 $ / MMBTU $ / bbl | Dec. 31, 2040 $ / bbl | Dec. 31, 2026 $ / MMBTU | Dec. 31, 2025 $ / MMBTU | Dec. 31, 2024 $ / MMBTU | Dec. 31, 2023 $ / MMBTU | Dec. 31, 2022 USD ($) $ / t $ / bbl | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | Dec. 31, 2028 $ / t | Dec. 31, 2030 $ / bbl | Dec. 31, 2040 $ / MMBTU | Dec. 31, 2040 $ / MMBTU | Dec. 31, 2050 $ / bbl | |
Asset impairment | |||||||||||||||||
Asset impairments recorded in operating income | $ (821) | $ (759) | $ (8,952) | ||||||||||||||
Asset impairments recorded in net income, TotalEnergies share | $ (15,743) | $ (910) | (8,465) | ||||||||||||||
Impairment excluding additional exceptional assets impairment in operating income | (3,492) | ||||||||||||||||
Impairment excluding additional exceptional assets impairment in net income, TotalEnergies share | $ (2,991) | ||||||||||||||||
Post-tax discount rate (as a percent) | 8% | 7% | 7% | ||||||||||||||
Period of reserves for qualification of assets as stranded | 20 years | 20 years | |||||||||||||||
Russia | |||||||||||||||||
Asset impairment | |||||||||||||||||
Asset impairments recorded in net income, TotalEnergies share | $ (14,756) | ||||||||||||||||
North Platte | |||||||||||||||||
Asset impairment | |||||||||||||||||
Asset impairments recorded in net income, TotalEnergies share | $ (957) | ||||||||||||||||
Minimum | |||||||||||||||||
Asset impairment | |||||||||||||||||
CO2 price | $ / t | 100 | ||||||||||||||||
Pre-tax discount rate (as a percent) | 7% | ||||||||||||||||
Maximum | |||||||||||||||||
Asset impairment | |||||||||||||||||
Pre-tax discount rate (as a percent) | 14% | ||||||||||||||||
Forecast | |||||||||||||||||
Asset impairment | |||||||||||||||||
Oil price | $ / bbl | 24.5 | 50 | 70 | 53.9 | |||||||||||||
Annual percentage of inflation in CO2 price | 2% | ||||||||||||||||
Forecast | Europe | |||||||||||||||||
Asset impairment | |||||||||||||||||
Gas price | $ / MMBTU | 3.9 | 11 | 14 | 17 | 20 | 8 | |||||||||||
Forecast | United States | |||||||||||||||||
Asset impairment | |||||||||||||||||
Gas price | $ / MMBTU | 1.8 | 3 | |||||||||||||||
Forecast | Asia | |||||||||||||||||
Asset impairment | |||||||||||||||||
Gas price | $ / MMBTU | 5.2 | 12 | 15 | 18 | 21 | 9 | |||||||||||
Discount rate | |||||||||||||||||
Asset impairment | |||||||||||||||||
Reasonably possible decrease in key assumption (as a percent) | 1% | ||||||||||||||||
Reasonably possible increase in assumption (as a percent) | 1% | ||||||||||||||||
Oil and gas prices | Sensitivity scenario one | |||||||||||||||||
Asset impairment | |||||||||||||||||
Reasonably possible decrease in key assumption (as a percent) | 10% | ||||||||||||||||
Oil and gas prices | Sensitivity scenario two | |||||||||||||||||
Asset impairment | |||||||||||||||||
Reasonably possible decrease in key assumption (as a percent) | 20% | ||||||||||||||||
CO2 prices | |||||||||||||||||
Asset impairment | |||||||||||||||||
CO2 price in sensitivity scenario | $ / t | 200 | ||||||||||||||||
CO2 prices | Forecast | |||||||||||||||||
Asset impairment | |||||||||||||||||
Annual percentage of inflation in CO2 price | 2% | ||||||||||||||||
Canadian oil sands | |||||||||||||||||
Asset impairment | |||||||||||||||||
Asset impairments recorded in net income, TotalEnergies share | $ (6,988) | ||||||||||||||||
Additional exceptional assets impairment in operating income | (5,460) | ||||||||||||||||
Additional exceptional assets impairment in net income, TotalEnergies share | $ (5,474) | ||||||||||||||||
Exploration & Production | |||||||||||||||||
Asset impairment | |||||||||||||||||
Asset impairments recorded in operating income | $ (588) | ||||||||||||||||
Asset impairments recorded in net income, TotalEnergies share | (11,141) | ||||||||||||||||
Exploration & Production | Russia | |||||||||||||||||
Asset impairment | |||||||||||||||||
Asset impairments recorded in net income, TotalEnergies share | (10,527) | ||||||||||||||||
Exploration & Production | Canada | |||||||||||||||||
Asset impairment | |||||||||||||||||
Reversal of impairment on assets | 728 | ||||||||||||||||
Exploration & Production | North Platte | |||||||||||||||||
Asset impairment | |||||||||||||||||
Asset impairments recorded in net income, TotalEnergies share | $ (957) | ||||||||||||||||
Exploration & Production | Discount rate | |||||||||||||||||
Asset impairment | |||||||||||||||||
Reasonably possible decrease in key assumption (as a percent) | 1% | ||||||||||||||||
Impact on operating income from decrease in key assumption | $ 300 | ||||||||||||||||
Impact on net income, TotalEnergies share, from decrease in key assumption | $ 200 | ||||||||||||||||
Reasonably possible increase in assumption (as a percent) | 1% | ||||||||||||||||
Impact on operating income from increase in key assumption | $ (500) | ||||||||||||||||
Impact on net income, TotalEnergies share, from increase in key assumption | $ (500) | ||||||||||||||||
Exploration & Production | Oil and gas prices | Sensitivity scenario one | |||||||||||||||||
Asset impairment | |||||||||||||||||
Reasonably possible decrease in key assumption (as a percent) | 10% | ||||||||||||||||
Oil price in sensitivity scenario | $ / bbl | 48 | ||||||||||||||||
Impact on operating income from decrease in key assumption | $ (1,500) | ||||||||||||||||
Impact on net income, TotalEnergies share, from decrease in key assumption | $ (1,200) | ||||||||||||||||
Exploration & Production | Oil and gas prices | Sensitivity scenario two | |||||||||||||||||
Asset impairment | |||||||||||||||||
Reasonably possible decrease in key assumption (as a percent) | 20% | ||||||||||||||||
Oil price in sensitivity scenario | $ / bbl | 43 | ||||||||||||||||
Impact on operating income from decrease in key assumption | $ (5,300) | ||||||||||||||||
Impact on net income, TotalEnergies share, from decrease in key assumption | $ (3,900) | ||||||||||||||||
Exploration & Production | CO2 prices | |||||||||||||||||
Asset impairment | |||||||||||||||||
CO2 price in sensitivity scenario | $ / t | 200 | ||||||||||||||||
Impact on operating income from change in key assumption | $ (1,600) | ||||||||||||||||
Impact on net income, TotalEnergies share, from change in key assumption | (1,200) | ||||||||||||||||
Exploration & Production | CO2 prices | Forecast | |||||||||||||||||
Asset impairment | |||||||||||||||||
Annual percentage of inflation in CO2 price | 2% | ||||||||||||||||
Integrated Gas, Renewables & Power | |||||||||||||||||
Asset impairment | |||||||||||||||||
Asset impairments recorded in operating income | (126) | ||||||||||||||||
Asset impairments recorded in net income, TotalEnergies share | (4,481) | ||||||||||||||||
Integrated Gas, Renewables & Power | Russia | |||||||||||||||||
Asset impairment | |||||||||||||||||
Asset impairments recorded in net income, TotalEnergies share | $ (4,142) | ||||||||||||||||
Integrated Gas, Renewables & Power | Discount rate | |||||||||||||||||
Asset impairment | |||||||||||||||||
Reasonably possible decrease in key assumption (as a percent) | 1% | ||||||||||||||||
Impact on operating income from decrease in key assumption | $ 100 | ||||||||||||||||
Impact on net income, TotalEnergies share, from decrease in key assumption | $ 0 | ||||||||||||||||
Reasonably possible increase in assumption (as a percent) | 1% | ||||||||||||||||
Impact on operating income from increase in key assumption | $ (1,300) | ||||||||||||||||
Impact on net income, TotalEnergies share, from increase in key assumption | $ (1,100) | ||||||||||||||||
Integrated Gas, Renewables & Power | Oil and gas prices | Sensitivity scenario one | |||||||||||||||||
Asset impairment | |||||||||||||||||
Reasonably possible decrease in key assumption (as a percent) | 10% | ||||||||||||||||
Impact on operating income from decrease in key assumption | $ (2,000) | ||||||||||||||||
Impact on net income, TotalEnergies share, from decrease in key assumption | $ (1,600) | ||||||||||||||||
Integrated Gas, Renewables & Power | Oil and gas prices | Sensitivity scenario two | |||||||||||||||||
Asset impairment | |||||||||||||||||
Reasonably possible decrease in key assumption (as a percent) | 20% | ||||||||||||||||
Impact on operating income from decrease in key assumption | $ (5,000) | ||||||||||||||||
Impact on net income, TotalEnergies share, from decrease in key assumption | $ (4,200) | ||||||||||||||||
Integrated Gas, Renewables & Power | CO2 prices | |||||||||||||||||
Asset impairment | |||||||||||||||||
CO2 price in sensitivity scenario | $ / t | 200 | ||||||||||||||||
Impact on operating income from change in key assumption | $ (900) | ||||||||||||||||
Impact on net income, TotalEnergies share, from change in key assumption | $ (800) | ||||||||||||||||
Integrated Gas, Renewables & Power | CO2 prices | Forecast | |||||||||||||||||
Asset impairment | |||||||||||||||||
Annual percentage of inflation in CO2 price | 2% | ||||||||||||||||
Refining & Chemicals | Discount rate | |||||||||||||||||
Asset impairment | |||||||||||||||||
Reasonably possible increase in assumption (as a percent) | 1% | ||||||||||||||||
Impact on operating income from increase in key assumption | $ 0 | ||||||||||||||||
Impact on net income, TotalEnergies share, from increase in key assumption | $ 0 | ||||||||||||||||
Refining & Chemicals | Refining margins | |||||||||||||||||
Asset impairment | |||||||||||||||||
Reasonably possible decrease in key assumption (as a percent) | 10% | ||||||||||||||||
Impact on operating income from decrease in key assumption | $ (600) | ||||||||||||||||
Impact on net income, TotalEnergies share, from decrease in key assumption | (600) | ||||||||||||||||
Marketing & Services | |||||||||||||||||
Asset impairment | |||||||||||||||||
Asset impairments recorded in operating income | (98) | ||||||||||||||||
Asset impairments recorded in net income, TotalEnergies share | (112) | ||||||||||||||||
Marketing & Services | Russia | |||||||||||||||||
Asset impairment | |||||||||||||||||
Asset impairments recorded in net income, TotalEnergies share | $ (87) |
Segment Information by geogra_3
Segment Information by geographical area (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Segment information by geographical area | |||
External sales | $ 280,999 | $ 205,863 | $ 140,685 |
Property, plant and equipment, intangible assets, net | 139,032 | 139,043 | 141,863 |
Capital expenditures | 19,802 | 16,589 | 15,534 |
France | |||
Segment information by geographical area | |||
External sales | 58,411 | 43,316 | 32,748 |
Property, plant and equipment, intangible assets, net | 13,080 | 14,204 | 14,555 |
Capital expenditures | 1,632 | 2,157 | 2,044 |
Rest of Europe | |||
Segment information by geographical area | |||
External sales | 122,641 | 85,072 | 67,292 |
Property, plant and equipment, intangible assets, net | 26,382 | 29,660 | 30,932 |
Capital expenditures | 2,743 | 3,027 | 3,165 |
North America | |||
Segment information by geographical area | |||
External sales | 33,188 | 22,998 | 13,258 |
Property, plant and equipment, intangible assets, net | 13,292 | 12,229 | 11,891 |
Capital expenditures | 5,304 | 1,680 | 899 |
Africa | |||
Segment information by geographical area | |||
External sales | 24,582 | 19,520 | 16,011 |
Property, plant and equipment, intangible assets, net | 39,410 | 41,593 | 43,087 |
Capital expenditures | 3,253 | 3,696 | 3,816 |
Rest of the world | |||
Segment information by geographical area | |||
External sales | 42,177 | 34,957 | 11,376 |
Property, plant and equipment, intangible assets, net | 46,867 | 41,357 | 41,398 |
Capital expenditures | $ 6,870 | $ 6,029 | $ 5,610 |
Main items related to operati_3
Main items related to operating activities - Operating expenses, research and development costs (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 USD ($) employee | Dec. 31, 2021 USD ($) employee | Dec. 31, 2020 USD ($) employee | |
Main items related to operating activities | |||
Purchases, net of inventory variation | $ (169,448) | $ (118,622) | $ (77,486) |
Exploration costs | (1,299) | (740) | (731) |
Other operating expenses | (29,789) | (26,894) | (25,538) |
Other operating expenses, Non-current operating liabilities (allowances) reversals | 1,086 | 1,299 | 778 |
Other operating expenses, Current operating liabilities (allowances) reversals | (188) | (30) | (77) |
OPERATING EXPENSES | (200,536) | (146,256) | (103,755) |
Research and development costs | $ 762 | $ 824 | $ 895 |
Research and development costs as a percentage of sales | 0.27% | ||
Percentage of increase (decrease) in research and development expense at constant foreign exchange rates | 4% | ||
Number of staff dedicated to research and development activities | employee | 3,536 | 3,830 | 4,088 |
Main items related to operati_4
Main items related to operating activities - Amortization, depreciation and impairment of tangible assets and mineral interests (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Main items related to operating activities | |||
Amortization, depreciation and impairment of tangible assets and mineral interests | $ (12,221) | $ (13,556) | $ (22,264) |
Tangible assets | |||
Main items related to operating activities | |||
Amortization, depreciation and impairment of tangible assets and mineral interests | (11,128) | (12,683) | (21,188) |
Mineral assets | |||
Main items related to operating activities | |||
Amortization, depreciation and impairment of tangible assets and mineral interests | $ (1,093) | $ (873) | $ (1,076) |
Main items related to operati_5
Main items related to operating activities - Inventories, Components (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Inventories | ||||
Crude oil and natural gas | $ 4,711 | $ 3,214 | $ 1,817 | |
Refined products | 6,224 | 5,361 | 3,845 | |
Chemicals products | 1,542 | 1,421 | 1,228 | |
Trading inventories | 6,672 | 6,501 | 5,130 | |
Other inventories | 3,787 | 3,455 | 2,710 | |
Total | 22,936 | 19,952 | 14,730 | |
Gross value/Cost | ||||
Inventories | ||||
Crude oil and natural gas | 4,758 | 3,221 | 1,818 | |
Refined products | 6,386 | 5,411 | 3,913 | |
Chemicals products | 1,635 | 1,519 | 1,330 | |
Trading inventories | 6,672 | 6,501 | 5,130 | |
Other inventories | 4,797 | 4,538 | 3,824 | |
Total | 24,248 | 21,190 | 16,015 | |
Valuation allowance/Cumulative impairments | ||||
Inventories | ||||
Crude oil and natural gas | (47) | (7) | (1) | |
Refined products | (162) | (50) | (68) | |
Chemicals products | (93) | (98) | (102) | |
Other inventories | (1,010) | (1,083) | (1,114) | |
Total | $ (1,312) | $ (1,238) | $ (1,285) | $ (1,174) |
Refining & Chemicals | ||||
Main items related to operating activities | ||||
Turnover period for petroleum product inventories | 2 months |
Main items related to operati_6
Main items related to operating activities - Inventories, Valuation Allowance (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Changes in the valuation allowance on inventories | |||
Balance as of January 1, | $ 19,952 | $ 14,730 | |
Balance as of December 31, | 22,936 | 19,952 | $ 14,730 |
Valuation allowance/Cumulative impairments | |||
Changes in the valuation allowance on inventories | |||
Balance as of January 1, | (1,238) | (1,285) | (1,174) |
Increase (net) | (121) | (36) | (85) |
Currency translation adjustment and other variations | 47 | 83 | (26) |
Balance as of December 31, | $ (1,312) | $ (1,238) | $ (1,285) |
Main items related to operati_7
Main items related to operating activities - Accounts receivable and other current assets (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Main items related to operating activities | |||
Accounts receivable | $ 24,378 | $ 21,983 | $ 14,068 |
Recoverable taxes | 6,263 | 3,659 | 3,531 |
Other operating receivables | 28,289 | 29,553 | 8,043 |
Prepaid expenses | 1,455 | 1,879 | 1,801 |
Other current assets | 63 | 53 | 53 |
Other current assets | 36,070 | 35,144 | 13,428 |
Gross value/Cost | |||
Main items related to operating activities | |||
Accounts receivable | 25,204 | 22,776 | 14,899 |
Recoverable taxes | 6,295 | 3,713 | 3,598 |
Other operating receivables | 28,582 | 29,767 | 8,251 |
Prepaid expenses | 1,455 | 1,879 | 1,801 |
Other current assets | 63 | 53 | 53 |
Other current assets | 36,395 | 35,412 | 13,703 |
Valuation allowance | |||
Main items related to operating activities | |||
Accounts receivable | (826) | (793) | (831) |
Recoverable taxes | (32) | (54) | (67) |
Other operating receivables | (293) | (214) | (208) |
Other current assets | $ (325) | $ (268) | $ (275) |
Main items related to operati_8
Main items related to operating activities - Valuation allowances and overdue receivables (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Main items related to operating activities | |||
Overdue receivables | $ 5,481 | $ 4,482 | $ 4,197 |
Due in less than 90 days | |||
Main items related to operating activities | |||
Overdue receivables | 3,328 | 2,844 | 2,140 |
Due between 90 days and 6 months | |||
Main items related to operating activities | |||
Overdue receivables | 672 | 260 | 239 |
Due between 6 and 12 months | |||
Main items related to operating activities | |||
Overdue receivables | 571 | 556 | 553 |
Due after 12 months | |||
Main items related to operating activities | |||
Overdue receivables | 910 | 823 | 1,265 |
Accounts receivable | |||
Changes in the valuation allowance on "Accounts receivable" and "Other current assets" | |||
Valuation allowance as of the beginning of the period | (793) | (831) | (674) |
Increase (net) | (98) | (24) | (107) |
Currency translation adjustments and other variations | 65 | 62 | (50) |
Valuation allowance as of the end of the period | (826) | (793) | (831) |
Other current assets | |||
Changes in the valuation allowance on "Accounts receivable" and "Other current assets" | |||
Valuation allowance as of the beginning of the period | (268) | (275) | (335) |
Increase (net) | (83) | (10) | 37 |
Currency translation adjustments and other variations | 26 | 17 | 23 |
Valuation allowance as of the end of the period | $ (325) | $ (268) | $ (275) |
Main items related to operati_9
Main items related to operating activities - Other creditors and accrued liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Other creditors and accrued liabilities | |||
Accruals and deferred income | $ 737 | $ 3,744 | $ 842 |
Payable to States (including taxes and duties) | 14,780 | 10,281 | 5,734 |
Payroll | 1,572 | 1,481 | 1,587 |
Other operating liabilities | 35,186 | 27,294 | 14,302 |
Other creditors and accrued liabilities | 52,275 | 42,800 | 22,465 |
Interim dividend payable, second quarter | 1,857 | 1,974 | 2,129 |
Interim dividend payable, third quarter | $ 1,827 | $ 1,948 | $ 2,149 |
Main items related to operat_10
Main items related to operating activities - Cash flow from operating activities (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Detail of interest, taxes and dividends | |||
Interests paid | $ (2,292) | $ (1,886) | $ (2,145) |
Interests received | 655 | 284 | 197 |
Income tax paid | (14,486) | (4,508) | (2,858) |
Dividends received | 3,955 | 2,346 | 1,444 |
Detail of changes in working capital | |||
Inventories | (3,805) | (5,903) | 2,274 |
Accounts receivable | (3,272) | (6,788) | 4,818 |
Other current assets | (3,523) | (21,026) | 3,374 |
Accounts payable | 5,313 | 12,073 | (5,355) |
Other creditors and accrued liabilities | 6,478 | 21,028 | (3,242) |
NET AMOUNT, DECREASE (INCREASE) | 1,191 | (616) | 1,869 |
Detail of changes in provisions and deferred taxes | |||
Accruals | 2,177 | (467) | 350 |
Deferred taxes | 2,417 | 1,429 | (2,132) |
TOTAL | $ 4,594 | $ 962 | $ (1,782) |
Other items from operating ac_3
Other items from operating activities - Other income and other expense (Details) - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended | ||||
Dec. 31, 2022 | Sep. 30, 2022 | Sep. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Other items from operating activities | ||||||
Gains on disposal of assets | $ 2,244 | $ 890 | $ 961 | |||
Foreign exchange gains | 379 | 227 | 746 | |||
Other | 226 | 195 | 530 | |||
OTHER INCOME | 2,849 | 1,312 | 2,237 | |||
Losses on disposal of assets | (2,613) | (436) | (52) | |||
Foreign exchange losses | (1,023) | (702) | (320) | |||
Amortization of other intangible assets (excl. mineral interests) | (430) | (448) | (343) | |||
Other | (3,278) | (731) | (791) | |||
OTHER EXPENSE | (7,344) | (2,317) | (1,506) | |||
Restructuring charges | 288 | 312 | ||||
Impairment of non-consolidated shares and povisions for financial risk | $ 238 | |||||
Impairment of non-consolidated shares and loans granted to non-consolidated subsidiaries and equity affiliates | $ 64 | |||||
Integrated Gas, Renewables & Power | ||||||
Other items from operating activities | ||||||
Gain on reevaluation of retained interest on partial disposal of subsidiary | 1,461 | |||||
Novatek | Exploration & Production | ||||||
Other items from operating activities | ||||||
Recycling of accumulated foreign exchange losses accumulated in equity | $ 2,384 | |||||
SunPower Corporation | Subsidiary that holds ownership in SunPower Corporation | ||||||
Other items from operating activities | ||||||
Percentage of ownership interest in subsidiary | 50.50% | 50.50% | 50.50% |
Other items from operating ac_4
Other items from operating activities - Other financial income and expense (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Other items from operating activities | |||
Dividend income on non-consolidated subsidiaries | $ 159 | $ 203 | $ 160 |
Capitalized financial expenses | 310 | 134 | 110 |
Other | 427 | 425 | 644 |
OTHER FINANCIAL INCOME | 896 | 762 | 914 |
Accretion of asset retirement obligations | (430) | (449) | (607) |
Other | (103) | (90) | (83) |
OTHER FINANCIAL EXPENSE | $ (533) | $ (539) | $ (690) |
Other items from operating ac_5
Other items from operating activities - Other non-current assets (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Other non-current assets | |||
Loans and advances | $ 1,837 | $ 2,107 | $ 2,458 |
Other non-current financial assets related to operational activities | 250 | 312 | 287 |
Other | 301 | 378 | 65 |
TOTAL | 2,388 | 2,797 | 2,810 |
Gross value/Cost | |||
Other non-current assets | |||
Loans and advances | 2,092 | 2,364 | 2,731 |
Other non-current financial assets related to operational activities | 250 | 312 | 287 |
Other | 301 | 378 | 65 |
TOTAL | 2,643 | 3,054 | 3,083 |
Valuation allowance | |||
Other non-current assets | |||
Loans and advances | (255) | (257) | (273) |
TOTAL | $ (255) | $ (257) | $ (273) |
Other items from operating ac_6
Other items from operating activities - Loans and advances, valuation allowance (Details) - Loans and advances - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Changes in the valuation allowance on loans and advances | |||
Valuation allowance as of the beginning of the period | $ (257) | $ (273) | $ (266) |
Increases | (27) | (6) | (30) |
Decreases | 11 | 14 | 15 |
Currency translation adjustment and other variations | 18 | 8 | 8 |
Valuation allowance as of the end of the period | $ (255) | $ (257) | $ (273) |
Intangible and tangible asset_2
Intangible and tangible assets - Intangible assets (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Goodwill and other intangible assets | ||||
Intangible assets, including goodwill | $ 31,931 | $ 32,484 | $ 33,528 | $ 33,178 |
Goodwill | ||||
Goodwill and other intangible assets | ||||
Intangible assets, including goodwill | 8,650 | 8,829 | 8,807 | |
Proved mineral interests | ||||
Goodwill and other intangible assets | ||||
Intangible assets, including goodwill | 7,937 | 7,652 | 6,964 | |
Unproved mineral interests | ||||
Goodwill and other intangible assets | ||||
Intangible assets, including goodwill | 13,016 | 13,806 | 15,510 | |
Other intangible assets | ||||
Goodwill and other intangible assets | ||||
Intangible assets, including goodwill | $ 2,328 | 2,197 | 2,247 | |
Other intangible assets | Minimum | ||||
Goodwill and other intangible assets | ||||
Finite useful life | 3 years | |||
Other intangible assets | Maximum | ||||
Goodwill and other intangible assets | ||||
Finite useful life | 20 years | |||
Gross value/Cost | ||||
Goodwill and other intangible assets | ||||
Intangible assets, including goodwill | $ 49,792 | 50,932 | 53,809 | |
Gross value/Cost | Goodwill | ||||
Goodwill and other intangible assets | ||||
Intangible assets, including goodwill | 9,010 | 9,728 | 9,738 | |
Gross value/Cost | Proved mineral interests | ||||
Goodwill and other intangible assets | ||||
Intangible assets, including goodwill | 18,025 | 17,382 | 16,559 | |
Gross value/Cost | Unproved mineral interests | ||||
Goodwill and other intangible assets | ||||
Intangible assets, including goodwill | 15,962 | 16,637 | 20,300 | |
Gross value/Cost | Other intangible assets | ||||
Goodwill and other intangible assets | ||||
Intangible assets, including goodwill | 6,795 | 7,185 | 7,212 | |
Depreciation, amortization and impairment | ||||
Goodwill and other intangible assets | ||||
Intangible assets, including goodwill | (17,861) | (18,448) | (20,281) | |
Depreciation, amortization and impairment | Goodwill | ||||
Goodwill and other intangible assets | ||||
Intangible assets, including goodwill | (360) | (899) | (931) | |
Depreciation, amortization and impairment | Proved mineral interests | ||||
Goodwill and other intangible assets | ||||
Intangible assets, including goodwill | (10,088) | (9,730) | (9,595) | |
Depreciation, amortization and impairment | Unproved mineral interests | ||||
Goodwill and other intangible assets | ||||
Intangible assets, including goodwill | (2,946) | (2,831) | (4,790) | |
Depreciation, amortization and impairment | Other intangible assets | ||||
Goodwill and other intangible assets | ||||
Intangible assets, including goodwill | $ (4,467) | $ (4,988) | $ (4,965) |
Intangible and tangible asset_3
Intangible and tangible assets - Change in net intangible assets (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Analysis of change in net intangible assets | |||
Net amount as of the beginning of the period | $ 32,484 | $ 33,528 | $ 33,178 |
Expenditures | 1,991 | 696 | 784 |
Disposals | (75) | (271) | (277) |
Amortization and impairment | (1,582) | (1,322) | (1,430) |
Currency translation adjustment | (423) | (394) | 305 |
Other | (464) | 247 | 968 |
Net amount as of the end of the period | 31,931 | 32,484 | 33,528 |
Exceptional asset impairments | 301 | 253 | 323 |
Effect of changes in the consolidation scope | $ 898 | ||
SunPower Corporation | |||
Analysis of change in net intangible assets | |||
Effect of changes in the consolidation scope | $ (167) | ||
Blue Raven Solar | |||
Analysis of change in net intangible assets | |||
Effect of changes in the consolidation scope | 140 | ||
Fonroche Biogaz | |||
Analysis of change in net intangible assets | |||
Effect of changes in the consolidation scope | $ 89 |
Intangible and tangible asset_4
Intangible and tangible assets - Changes in carrying amount of goodwill (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2022 USD ($) | |
Changes in the carrying amount of goodwill by business segment | |
Net goodwill as of the beginning of the period | $ 8,829 |
Increases | 219 |
Impairments | (58) |
Other | (340) |
Net goodwill as of the end of the period | 8,650 |
Integrated Gas, Renewables & Power | |
Changes in the carrying amount of goodwill by business segment | |
Net goodwill as of the beginning of the period | 5,243 |
Increases | 111 |
Impairments | (58) |
Other | (273) |
Net goodwill as of the end of the period | 5,023 |
Exploration & Production | |
Changes in the carrying amount of goodwill by business segment | |
Net goodwill as of the beginning of the period | 2,612 |
Other | (31) |
Net goodwill as of the end of the period | 2,581 |
Refining & Chemicals | |
Changes in the carrying amount of goodwill by business segment | |
Net goodwill as of the beginning of the period | 519 |
Other | (17) |
Net goodwill as of the end of the period | 502 |
Marketing & Services | |
Changes in the carrying amount of goodwill by business segment | |
Net goodwill as of the beginning of the period | 426 |
Increases | 108 |
Other | (18) |
Net goodwill as of the end of the period | 516 |
Corporate | |
Changes in the carrying amount of goodwill by business segment | |
Net goodwill as of the beginning of the period | 29 |
Other | (1) |
Net goodwill as of the end of the period | $ 28 |
Intangible and tangible asset_5
Intangible and tangible assets - Other property, plant and equipment, useful lives (Details) | 12 Months Ended |
Dec. 31, 2022 | |
Furniture, office equipment, machinery and tools | Minimum | |
Property, plant and equipment | |
Useful lives of property, plant and equipment | 3 years |
Furniture, office equipment, machinery and tools | Maximum | |
Property, plant and equipment | |
Useful lives of property, plant and equipment | 12 years |
Transportation equipment | Minimum | |
Property, plant and equipment | |
Useful lives of property, plant and equipment | 5 years |
Transportation equipment | Maximum | |
Property, plant and equipment | |
Useful lives of property, plant and equipment | 20 years |
Storage tanks and related equipment | Minimum | |
Property, plant and equipment | |
Useful lives of property, plant and equipment | 10 years |
Storage tanks and related equipment | Maximum | |
Property, plant and equipment | |
Useful lives of property, plant and equipment | 15 years |
Specialized complex installations and pipelines | Minimum | |
Property, plant and equipment | |
Useful lives of property, plant and equipment | 10 years |
Specialized complex installations and pipelines | Maximum | |
Property, plant and equipment | |
Useful lives of property, plant and equipment | 30 years |
Buildings | Minimum | |
Property, plant and equipment | |
Useful lives of property, plant and equipment | 10 years |
Buildings | Maximum | |
Property, plant and equipment | |
Useful lives of property, plant and equipment | 50 years |
Intangible and tangible asset_6
Intangible and tangible assets - Total property, plant and equipment (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Property, plant and equipment | ||||
Property, plant and equipment | $ 107,101 | $ 106,559 | $ 108,335 | $ 116,408 |
Gross value/Cost | ||||
Property, plant and equipment | ||||
Property, plant and equipment | 296,078 | 298,409 | 300,478 | |
Depreciation, amortization and impairment | ||||
Property, plant and equipment | ||||
Property, plant and equipment | (188,977) | (191,850) | (192,143) | |
Exploration and production activities | ||||
Property, plant and equipment | ||||
Property, plant and equipment | 83,869 | 82,042 | 83,700 | |
Exploration and production activities | Gross value/Cost | ||||
Property, plant and equipment | ||||
Property, plant and equipment | 231,396 | 232,362 | 232,743 | |
Exploration and production activities | Depreciation, amortization and impairment | ||||
Property, plant and equipment | ||||
Property, plant and equipment | (147,527) | (150,320) | (149,043) | |
Exploration and production activities | Proved properties | ||||
Property, plant and equipment | ||||
Property, plant and equipment | 63,508 | 63,043 | 67,978 | |
Exploration and production activities | Proved properties | Gross value/Cost | ||||
Property, plant and equipment | ||||
Property, plant and equipment | 210,079 | 212,264 | 215,892 | |
Exploration and production activities | Proved properties | Depreciation, amortization and impairment | ||||
Property, plant and equipment | ||||
Property, plant and equipment | (146,571) | (149,221) | (147,914) | |
Exploration and production activities | Unproved properties | ||||
Property, plant and equipment | ||||
Property, plant and equipment | 755 | 1,367 | 2,710 | |
Exploration and production activities | Unproved properties | Gross value/Cost | ||||
Property, plant and equipment | ||||
Property, plant and equipment | 1,023 | 1,635 | 2,978 | |
Exploration and production activities | Unproved properties | Depreciation, amortization and impairment | ||||
Property, plant and equipment | ||||
Property, plant and equipment | (268) | (268) | (268) | |
Exploration and production activities | Work in progress | ||||
Property, plant and equipment | ||||
Property, plant and equipment | 19,606 | 17,632 | 13,012 | |
Exploration and production activities | Work in progress | Gross value/Cost | ||||
Property, plant and equipment | ||||
Property, plant and equipment | 20,294 | 18,463 | 13,873 | |
Exploration and production activities | Work in progress | Depreciation, amortization and impairment | ||||
Property, plant and equipment | ||||
Property, plant and equipment | (688) | (831) | (861) | |
Other (excluding exploration and production activities) | ||||
Property, plant and equipment | ||||
Property, plant and equipment | 23,232 | 24,517 | 24,635 | |
Other (excluding exploration and production activities) | Gross value/Cost | ||||
Property, plant and equipment | ||||
Property, plant and equipment | 64,682 | 66,047 | 67,735 | |
Other (excluding exploration and production activities) | Depreciation, amortization and impairment | ||||
Property, plant and equipment | ||||
Property, plant and equipment | (41,450) | (41,530) | (43,100) | |
Other (excluding exploration and production activities) | Land | ||||
Property, plant and equipment | ||||
Property, plant and equipment | 2,050 | 2,172 | 2,094 | |
Other (excluding exploration and production activities) | Land | Gross value/Cost | ||||
Property, plant and equipment | ||||
Property, plant and equipment | 3,089 | 3,145 | 2,999 | |
Other (excluding exploration and production activities) | Land | Depreciation, amortization and impairment | ||||
Property, plant and equipment | ||||
Property, plant and equipment | (1,039) | (973) | (905) | |
Other (excluding exploration and production activities) | Machinery, plant and equipment (including transportation equipment) | ||||
Property, plant and equipment | ||||
Property, plant and equipment | 10,923 | 11,860 | 12,125 | |
Other (excluding exploration and production activities) | Machinery, plant and equipment (including transportation equipment) | Gross value/Cost | ||||
Property, plant and equipment | ||||
Property, plant and equipment | 37,002 | 38,285 | 39,506 | |
Other (excluding exploration and production activities) | Machinery, plant and equipment (including transportation equipment) | Depreciation, amortization and impairment | ||||
Property, plant and equipment | ||||
Property, plant and equipment | (26,079) | (26,425) | (27,381) | |
Other (excluding exploration and production activities) | Buildings | ||||
Property, plant and equipment | ||||
Property, plant and equipment | 3,603 | 3,912 | 4,326 | |
Other (excluding exploration and production activities) | Buildings | Gross value/Cost | ||||
Property, plant and equipment | ||||
Property, plant and equipment | 10,230 | 10,558 | 11,184 | |
Other (excluding exploration and production activities) | Buildings | Depreciation, amortization and impairment | ||||
Property, plant and equipment | ||||
Property, plant and equipment | (6,627) | (6,646) | (6,858) | |
Other (excluding exploration and production activities) | Work in progress | ||||
Property, plant and equipment | ||||
Property, plant and equipment | 3,937 | 3,617 | 3,062 | |
Other (excluding exploration and production activities) | Work in progress | Gross value/Cost | ||||
Property, plant and equipment | ||||
Property, plant and equipment | 3,960 | 3,625 | 3,063 | |
Other (excluding exploration and production activities) | Work in progress | Depreciation, amortization and impairment | ||||
Property, plant and equipment | ||||
Property, plant and equipment | (23) | (8) | (1) | |
Other (excluding exploration and production activities) | Other | ||||
Property, plant and equipment | ||||
Property, plant and equipment | 2,719 | 2,956 | 3,028 | |
Other (excluding exploration and production activities) | Other | Gross value/Cost | ||||
Property, plant and equipment | ||||
Property, plant and equipment | 10,401 | 10,434 | 10,983 | |
Other (excluding exploration and production activities) | Other | Depreciation, amortization and impairment | ||||
Property, plant and equipment | ||||
Property, plant and equipment | $ (7,682) | $ (7,478) | $ (7,955) |
Intangible and tangible asset_7
Intangible and tangible assets - Change in net property, plant and equipment (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Analysis of change in net property, plant and equipment | |||
Net amount as of the beginning of the period | $ 106,559 | $ 108,335 | $ 116,408 |
Expenditures | 13,699 | 11,647 | 9,980 |
Disposals | (951) | (705) | (611) |
Depreciation and impairment | (12,275) | (13,133) | (21,544) |
Currency translation adjustment | (2,236) | (1,739) | 1,706 |
Other | 2,305 | 2,154 | 2,396 |
Net amount as of the end of the period | 107,101 | 106,559 | 108,335 |
Impact of impairments of assets | 888 | 615 | 8,629 |
Impact of reversal of impairment of assets | 1,196 | ||
Impact of new IFRS 16 contracts | 1,969 | 1,786 | 1,815 |
Reversal of reclassification as non-current assets held for sale and discontinued operations | 434 | ||
TotalEnergies East Africa Midstream B.V. | |||
Analysis of change in net property, plant and equipment | |||
Disposals | $ (508) | ||
Gabon | Non-operated assets | |||
Analysis of change in net property, plant and equipment | |||
Disposals | $ (397) | ||
United Kingdom | Non strategic assets | |||
Analysis of change in net property, plant and equipment | |||
Disposals | $ (240) |
Intangible and tangible asset_8
Intangible and tangible assets - Facilities and equipment under leases (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Tangible assets | |||
Assets under leases | |||
Right-of-use assets | $ 7,363 | $ 7,353 | $ 7,190 |
Tangible assets | Gross value/Cost | |||
Assets under leases | |||
Right-of-use assets | 13,079 | 12,144 | 11,011 |
Tangible assets | Depreciation, amortization and impairment | |||
Assets under leases | |||
Right-of-use assets | (5,716) | (4,791) | (3,821) |
Tangible assets | Exploration and production activities | |||
Assets under leases | |||
Right-of-use assets | 2,376 | 1,545 | 1,461 |
Tangible assets | Exploration and production activities | Gross value/Cost | |||
Assets under leases | |||
Right-of-use assets | 4,497 | 3,228 | 2,758 |
Tangible assets | Exploration and production activities | Depreciation, amortization and impairment | |||
Assets under leases | |||
Right-of-use assets | (2,121) | (1,683) | (1,297) |
Tangible assets | Other (excluding exploration and production activities) | |||
Assets under leases | |||
Right-of-use assets | 4,987 | 5,808 | 5,729 |
Tangible assets | Other (excluding exploration and production activities) | Gross value/Cost | |||
Assets under leases | |||
Right-of-use assets | 8,582 | 8,916 | 8,253 |
Tangible assets | Other (excluding exploration and production activities) | Depreciation, amortization and impairment | |||
Assets under leases | |||
Right-of-use assets | (3,595) | (3,108) | (2,524) |
Land | Other (excluding exploration and production activities) | |||
Assets under leases | |||
Right-of-use assets | 999 | 1,117 | 965 |
Land | Other (excluding exploration and production activities) | Gross value/Cost | |||
Assets under leases | |||
Right-of-use assets | 1,396 | 1,441 | 1,187 |
Land | Other (excluding exploration and production activities) | Depreciation, amortization and impairment | |||
Assets under leases | |||
Right-of-use assets | (397) | (324) | (222) |
Machinery, plant and equipment | Other (excluding exploration and production activities) | |||
Assets under leases | |||
Right-of-use assets | 2,591 | 3,091 | 2,975 |
Machinery, plant and equipment | Other (excluding exploration and production activities) | Gross value/Cost | |||
Assets under leases | |||
Right-of-use assets | 4,691 | 4,910 | 4,606 |
Machinery, plant and equipment | Other (excluding exploration and production activities) | Depreciation, amortization and impairment | |||
Assets under leases | |||
Right-of-use assets | (2,100) | (1,819) | (1,631) |
Buildings | Other (excluding exploration and production activities) | |||
Assets under leases | |||
Right-of-use assets | 1,135 | 1,292 | 1,393 |
Buildings | Other (excluding exploration and production activities) | Gross value/Cost | |||
Assets under leases | |||
Right-of-use assets | 1,750 | 1,853 | 1,778 |
Buildings | Other (excluding exploration and production activities) | Depreciation, amortization and impairment | |||
Assets under leases | |||
Right-of-use assets | (615) | (561) | (385) |
Other | Other (excluding exploration and production activities) | |||
Assets under leases | |||
Right-of-use assets | 262 | 308 | 396 |
Other | Other (excluding exploration and production activities) | Gross value/Cost | |||
Assets under leases | |||
Right-of-use assets | 745 | 712 | 682 |
Other | Other (excluding exploration and production activities) | Depreciation, amortization and impairment | |||
Assets under leases | |||
Right-of-use assets | $ (483) | $ (404) | $ (286) |
Equity affiliates, other inve_3
Equity affiliates, other investments and related parties - Contribution of equity affiliates (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Equity value | |||
Total Associates | $ 9,533 | $ 17,244 | $ 15,745 |
Total Joint ventures | 14,623 | 9,277 | 7,102 |
Total | 24,156 | 26,521 | 22,847 |
Loans | 3,733 | 4,532 | 5,129 |
Total Equity value and Loans | 27,889 | 31,053 | 27,976 |
Profit/(loss) | |||
Total Associates | (4,567) | 1,186 | 753 |
Total Joint ventures | 2,675 | 2,252 | (301) |
Total share of profit/(loss) of equity affiliates | (1,892) | 3,438 | 452 |
Other comprehensive income | |||
Total Associates | 3,368 | 734 | (1,704) |
Total Joint ventures | 129 | (28) | (127) |
Share of other comprehensive income of equity affiliates, net amount | $ 3,497 | $ 706 | $ (1,831) |
Equity affiliates, other inve_4
Equity affiliates, other investments and related parties - Associates (Details) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2022 USD ($) | Dec. 31, 2022 USD ($) item | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | Dec. 31, 2019 USD ($) | |
Associates | |||||
Non current assets | $ 178,140 | $ 178,140 | $ 182,322 | $ 186,453 | |
Current assets | 125,724 | 125,724 | 111,136 | 79,679 | |
TOTAL ASSETS | 303,864 | 303,864 | 293,458 | 266,132 | |
Shareholder's equity | 114,570 | 114,570 | 114,999 | 106,085 | $ 119,305 |
Non current liabilities | 79,516 | 79,516 | 83,357 | 95,371 | |
Current liabilities | 109,778 | 109,778 | 95,102 | 64,676 | |
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY | 303,864 | 303,864 | 293,458 | 266,132 | |
Revenues from sales | 263,310 | 184,634 | 119,704 | ||
Net income | 21,044 | 16,366 | (7,336) | ||
Other comprehensive income | (3,109) | (1,446) | 1,230 | ||
Equity value | $ 24,156 | 24,156 | 26,521 | 22,847 | |
Profit/(loss) | (1,892) | 3,438 | 452 | ||
Share of Other Comprehensive Income, net amount | 3,497 | 706 | (1,831) | ||
Novatek | |||||
Associates | |||||
% owned | 19.40% | ||||
Saudi Aramco Total Refining & Petrochemical Company | Refining & Chemicals | |||||
Associates | |||||
Non current assets | $ 10,003 | 10,003 | 10,264 | 10,698 | |
Current assets | 3,615 | 3,615 | 2,221 | 1,211 | |
TOTAL ASSETS | 13,618 | 13,618 | 12,485 | 11,909 | |
Shareholder's equity | 3,858 | 3,858 | 1,164 | 1,256 | |
Non current liabilities | 6,365 | 6,365 | 7,322 | 7,994 | |
Current liabilities | 3,395 | 3,395 | 3,999 | 2,659 | |
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY | 13,618 | 13,618 | 12,485 | 11,909 | |
Revenues from sales | 20,492 | 11,123 | 6,031 | ||
Net income | 2,409 | (245) | (686) | ||
Other comprehensive income | $ 284 | $ 155 | $ (171) | ||
% owned | 37.50% | 37.50% | 37.50% | ||
Equity value | 1,447 | $ 1,447 | $ 437 | $ 471 | |
Profit/(loss) | 903 | (92) | (257) | ||
Share of Other Comprehensive Income, net amount | $ 147 | 116 | (128) | ||
Refinery production capacity (in barrels per day) | item | 460,000 | ||||
Qatar | Refining & Chemicals | |||||
Associates | |||||
Non current assets | 3,905 | $ 3,905 | 3,909 | 4,105 | |
Current assets | 2,491 | 2,491 | 1,908 | 1,521 | |
TOTAL ASSETS | 6,396 | 6,396 | 5,817 | 5,626 | |
Shareholder's equity | 2,737 | 2,737 | 2,693 | 2,717 | |
Non current liabilities | 2,062 | 2,062 | 1,906 | 2,171 | |
Current liabilities | 1,597 | 1,597 | 1,218 | 738 | |
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY | 6,396 | 6,396 | 5,817 | 5,626 | |
Revenues from sales | 13,193 | 9,266 | 5,222 | ||
Net income | 629 | 649 | 91 | ||
Other comprehensive income | (5) | (5) | |||
Equity value | 703 | 703 | 693 | 716 | |
Profit/(loss) | 161 | 174 | 57 | ||
Share of Other Comprehensive Income, net amount | 10 | 13 | (16) | ||
Dividends paid to TotalEnergies | $ 138 | 199 | 63 | ||
Qatar Petrochemical Company Q.S.C. (QAPCO) | Refining & Chemicals | |||||
Associates | |||||
% owned | 20% | ||||
Qatofin Company Limited | Refining & Chemicals | |||||
Associates | |||||
% owned | 49.08% | ||||
Laffan Refinery Company Limited | Refining & Chemicals | |||||
Associates | |||||
% owned | 10% | ||||
Laffan Refinery Company Limited 2 | Refining & Chemicals | |||||
Associates | |||||
% owned | 10% | ||||
Exploration and production activities | Novatek | |||||
Associates | |||||
Non current assets | 26,954 | 23,748 | |||
Current assets | 8,208 | 4,170 | |||
TOTAL ASSETS | 35,162 | 27,918 | |||
Shareholder's equity | 25,944 | 22,160 | |||
Non current liabilities | 3,246 | 3,164 | |||
Current liabilities | 5,972 | 2,594 | |||
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY | 35,162 | 27,918 | |||
Revenues from sales | 15,876 | 9,733 | |||
Net income | 5,871 | 1,759 | |||
Other comprehensive income | $ (82) | $ (3,206) | |||
% owned | 19.40% | 19.40% | 19.40% | ||
Equity value | $ 6,243 | $ 5,596 | |||
Including goodwill and identifiable assets | 1,210 | 1,297 | |||
Profit/(loss) | $ (5,747) | 1,065 | 264 | ||
Share of Other Comprehensive Income, net amount | 3,118 | 446 | (1,409) | ||
Dividends paid to TotalEnergies | 883 | 387 | 229 | ||
Exploration and production activities | Liquefaction entities | |||||
Associates | |||||
Non current assets | 40,850 | 40,850 | 39,348 | 34,273 | |
Current assets | 8,276 | 8,276 | 11,075 | 7,537 | |
TOTAL ASSETS | 49,126 | 49,126 | 50,423 | 41,810 | |
Shareholder's equity | 19,188 | 19,188 | 23,867 | 23,403 | |
Non current liabilities | 22,312 | 22,312 | 19,659 | 13,608 | |
Current liabilities | 7,626 | 7,626 | 6,897 | 4,799 | |
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY | 49,126 | 49,126 | 50,423 | 41,810 | |
Revenues from sales | 35,888 | 23,243 | 15,584 | ||
Net income | 10,247 | 8,056 | 2,416 | ||
Equity value | 3,243 | 3,243 | 5,582 | 5,534 | |
Including goodwill and identifiable assets | 34 | 34 | 1,832 | 1,837 | |
Profit/(loss) | (340) | 1,024 | 237 | ||
Share of Other Comprehensive Income, net amount | (71) | 85 | (122) | ||
Dividends paid to TotalEnergies | $ 1,224 | 817 | 406 | ||
Exploration and production activities | Nigeria LNG Limited | |||||
Associates | |||||
% owned | 15% | ||||
Exploration and production activities | TotalEnergies LNG Angola | |||||
Associates | |||||
% owned | 13.60% | ||||
Exploration and production activities | Yemen LNG Company Limited | |||||
Associates | |||||
% owned | 39.62% | ||||
Exploration and production activities | Qatar Liquefied Gas Company Limited | |||||
Associates | |||||
% owned | 10% | ||||
Exploration and production activities | Qatar Liquefied Gas Company Limited (II) | |||||
Associates | |||||
% owned | 16.70% | ||||
Exploration and production activities | Oman LNG, LLC | |||||
Associates | |||||
% owned | 5.54% | ||||
Exploration and production activities | Abu Dhabi Gas Liquefaction Company Limited | |||||
Associates | |||||
% owned | 5% | ||||
Exploration and production activities | Arctic LNG 2 LLC | |||||
Associates | |||||
% owned | 10% | ||||
Exploration and production activities | PetroCedeno | |||||
Associates | |||||
Non current assets | 4,008 | ||||
Current assets | 6,428 | ||||
TOTAL ASSETS | 10,436 | ||||
Shareholder's equity | 4,548 | ||||
Non current liabilities | 73 | ||||
Current liabilities | 5,815 | ||||
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY | 10,436 | ||||
Revenues from sales | $ 66 | ||||
% owned | 30.32% | ||||
Equity value | $ 1,379 | ||||
Renewables and Electricity activities | Adani Green Energy Limited (AGEL) | |||||
Associates | |||||
Non current assets | 6,961 | $ 6,961 | 6,223 | ||
Current assets | 769 | 769 | 1,042 | ||
TOTAL ASSETS | 7,730 | 7,730 | 7,265 | ||
Shareholder's equity | 807 | 807 | 316 | ||
Non current liabilities | 5,805 | 5,805 | 5,560 | ||
Current liabilities | 1,118 | 1,118 | 1,389 | ||
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY | 7,730 | 7,730 | 7,265 | ||
Revenues from sales | 1,073 | 545 | |||
Net income | 104 | 35 | |||
Other comprehensive income | $ (112) | $ (10) | |||
% owned | 19.74% | 20% | |||
Equity value | 1,856 | $ 1,856 | $ 2,102 | ||
Including goodwill and identifiable assets | $ 1,697 | 1,697 | 2,039 | ||
Profit/(loss) | 21 | 7 | |||
Share of Other Comprehensive Income, net amount | $ 23 | $ 6 |
Equity affiliates, other inve_5
Equity affiliates, other investments and related parties - Joint Ventures (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Joint Ventures | ||||
Non current assets | $ 178,140 | $ 182,322 | $ 186,453 | |
Cash and cash equivalents | 33,026 | 21,342 | 31,268 | $ 27,352 |
TOTAL ASSETS | 303,864 | 293,458 | 266,132 | |
Shareholder's equity | 114,570 | 114,999 | 106,085 | $ 119,305 |
Financial debt | 45,264 | 49,512 | 60,203 | |
Current borrowings | 15,502 | 15,035 | 17,099 | |
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY | 303,864 | 293,458 | 266,132 | |
Revenues from sales | 263,310 | 184,634 | 119,704 | |
Income taxes | (22,242) | (9,587) | (318) | |
Net income (TotalEnergies share) | 21,044 | 16,366 | (7,336) | |
Other comprehensive income | (3,109) | (1,446) | 1,230 | |
Equity value | 24,156 | 26,521 | 22,847 | |
Profit/(loss) | (1,892) | 3,438 | 452 | |
Share of Other Comprehensive Income, net amount | 3,497 | 706 | (1,831) | |
Liquefaction entities | Integrated Gas, Renewables & Power | ||||
Joint Ventures | ||||
Non current assets | 65,293 | 66,924 | 70,425 | |
Current assets excluding cash and cash equivalents | 2,630 | 2,912 | 1,513 | |
Cash and cash equivalents | 4,375 | 2,312 | 1,834 | |
TOTAL ASSETS | 72,298 | 72,148 | 73,772 | |
Shareholder's equity | 17,455 | 9,956 | 4,433 | |
Other non current liabilities | 10,785 | 8,205 | 8,259 | |
Financial debt | 41,452 | 50,920 | 58,128 | |
Other current liabilities | 2,606 | 3,067 | 2,952 | |
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY | 72,298 | 72,148 | 73,772 | |
Revenues from sales | 24,701 | 14,380 | 8,543 | |
Depreciation and depletion of tangible assets and mineral interests | (2,814) | (3,058) | (3,130) | |
Interest income | 17 | 2 | ||
Interest expense | (2,453) | (2,599) | (2,972) | |
Income taxes | (2,804) | (1,448) | 77 | |
Net income (TotalEnergies share) | 12,791 | 5,600 | (2,399) | |
Other comprehensive income | 526 | 323 | (323) | |
Equity value | 4,315 | 2,725 | 1,602 | |
Including goodwill and identifiable assets | 465 | 502 | 546 | |
Profit/(loss) | 2,616 | 1,119 | (633) | |
Share of Other Comprehensive Income, net amount | 137 | 84 | (84) | |
Dividends paid to TotalEnergies | $ 1,166 | 81 | ||
Yamal LNG | Integrated Gas, Renewables & Power | ||||
Joint Ventures | ||||
% owned | 20.02% | |||
Ichthys LNG PTY Limited | Integrated Gas, Renewables & Power | ||||
Joint Ventures | ||||
% owned | 26% | |||
Hanwha TotalEnergies Petrochemical Co | Refining & Chemicals | ||||
Joint Ventures | ||||
Non current assets | $ 4,113 | 4,443 | 4,664 | |
Current assets excluding cash and cash equivalents | 2,326 | 2,117 | 1,575 | |
Cash and cash equivalents | 82 | 151 | 303 | |
TOTAL ASSETS | 6,521 | 6,711 | 6,542 | |
Shareholder's equity | 3,146 | 3,538 | 3,443 | |
Other non current liabilities | 180 | 164 | 167 | |
Financial debt | 1,220 | 1,241 | 1,703 | |
Other current liabilities | 1,117 | 1,055 | 583 | |
Current borrowings | 858 | 713 | 646 | |
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY | 6,521 | 6,711 | 6,542 | |
Revenues from sales | 10,824 | 8,600 | 5,734 | |
Depreciation and depletion of tangible assets and mineral interests | (289) | (312) | (278) | |
Interest expense | (47) | (44) | (2) | |
Income taxes | (65) | (222) | (69) | |
Net income (TotalEnergies share) | 123 | 620 | 133 | |
Other comprehensive income | $ (189) | $ (308) | $ 194 | |
% owned | 50% | 50% | 50% | |
Equity value | $ 1,573 | $ 1,769 | $ 1,721 | |
Profit/(loss) | 62 | 310 | 67 | |
Share of Other Comprehensive Income, net amount | (59) | (150) | 87 | |
Dividends paid to TotalEnergies | $ 162 | $ 109 | $ 102 |
Equity affiliates, other inve_6
Equity affiliates, other investments and related parties - Other associates and joint ventures (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Equity affiliates | |||
Non current assets | $ 178,140 | $ 182,322 | $ 186,453 |
Current assets | 125,724 | 111,136 | 79,679 |
TOTAL ASSETS | 303,864 | 293,458 | 266,132 |
Shareholders' equity - TotalEnergies share | 111,724 | 111,736 | 103,702 |
Non-controlling interests | 2,846 | 3,263 | 2,383 |
Non current liabilities | 79,516 | 83,357 | 95,371 |
Current liabilities | 109,778 | 95,102 | 64,676 |
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY | 303,864 | 293,458 | 266,132 |
Revenues from sales | 263,310 | 184,634 | 119,704 |
Net income (TotalEnergies share) | 21,044 | 16,366 | (7,336) |
Non-controlling interests | 518 | 334 | (94) |
Share of Other Comprehensive Income, net amount | 3,497 | 706 | (1,831) |
Equity value | 24,156 | 26,521 | 22,847 |
Profit/(loss) | (1,892) | 3,438 | 452 |
Associates | |||
Equity affiliates | |||
Non current assets | 6,014 | 5,987 | 5,454 |
Current assets | 1,591 | 1,849 | 1,299 |
TOTAL ASSETS | 7,605 | 7,836 | 6,753 |
Shareholders' equity - TotalEnergies share | 1,423 | 1,366 | 1,183 |
Non current liabilities | 5,296 | 5,455 | 4,881 |
Current liabilities | 886 | 1,015 | 689 |
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY | 7,605 | 7,836 | 6,753 |
Revenues from sales | 2,338 | 2,450 | 2,154 |
Net income (TotalEnergies share) | 488 | 514 | 478 |
Share of Other Comprehensive Income, net amount | 140 | 68 | (29) |
Equity value | 2,285 | 2,188 | 2,049 |
Profit/(loss) | 436 | (992) | 452 |
Dividends paid to TotalEnergies | 469 | 498 | 409 |
Joint ventures | |||
Equity affiliates | |||
Non current assets | 17,484 | 9,745 | 7,002 |
Current assets | 3,485 | 1,799 | 1,671 |
TOTAL ASSETS | 20,969 | 11,544 | 8,673 |
Shareholders' equity - TotalEnergies share | 4,042 | 2,531 | 1,963 |
Non-controlling interests | 1,414 | ||
Non current liabilities | 12,422 | 7,460 | 5,469 |
Current liabilities | 3,091 | 1,553 | 1,241 |
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY | 20,969 | 11,544 | 8,673 |
Revenues from sales | 7,202 | 4,850 | 3,116 |
Net income (TotalEnergies share) | 436 | 381 | 202 |
Non-controlling interests | 110 | ||
Share of Other Comprehensive Income, net amount | 52 | 38 | (130) |
Equity value | 8,735 | 4,782 | 3,779 |
Profit/(loss) | (3) | 823 | 265 |
Dividends paid to TotalEnergies | $ 109 | $ 96 | $ 59 |
Equity affiliates, other inve_7
Equity affiliates, other investments and related parties - Equity instruments reconciliation (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Financial structure, financial costs and financial instruments | |||
Equity instruments as of the beginning of the period | $ 1,625 | $ 2,007 | $ 1,778 |
Increase - Decrease | (613) | (440) | (284) |
Change in fair value | 39 | 58 | 513 |
Equity instruments as of the end of the period | 1,051 | 1,625 | 2,007 |
Other Comprehensive Income | |||
Financial structure, financial costs and financial instruments | |||
Equity instruments as of the beginning of the period | 573 | 783 | 506 |
Increase - Decrease | (566) | (276) | (256) |
Change in fair value | 112 | 66 | 533 |
Equity instruments as of the end of the period | 119 | 573 | 783 |
Other Comprehensive Income | Enphase Energy Inc. | |||
Financial structure, financial costs and financial instruments | |||
Equity instruments as of the beginning of the period | 457 | 613 | 173 |
Increase - Decrease | (579) | (177) | (251) |
Change in fair value | 122 | 21 | 691 |
Equity instruments as of the end of the period | 457 | 613 | |
Other Comprehensive Income | Tellurian Investments Inc | |||
Financial structure, financial costs and financial instruments | |||
Equity instruments as of the beginning of the period | 57 | 207 | |
Increase - Decrease | (111) | (1) | |
Change in fair value | 54 | (149) | |
Equity instruments as of the end of the period | 57 | ||
Other Comprehensive Income | Other equity securities (unit value below $50 million) | |||
Financial structure, financial costs and financial instruments | |||
Equity instruments as of the beginning of the period | 116 | 113 | 126 |
Increase - Decrease | 13 | 12 | (4) |
Change in fair value | (10) | (9) | (9) |
Equity instruments as of the end of the period | 119 | 116 | 113 |
Fair value through P&L - assets | |||
Financial structure, financial costs and financial instruments | |||
Equity instruments as of the beginning of the period | 1,052 | 1,224 | 1,272 |
Increase - Decrease | (47) | (164) | (28) |
Change in fair value | (73) | (8) | (20) |
Equity instruments as of the end of the period | 932 | 1,052 | 1,224 |
Fair value through P&L - assets | BBPP | |||
Financial structure, financial costs and financial instruments | |||
Equity instruments as of the beginning of the period | 58 | 62 | |
Increase - Decrease | (58) | (4) | |
Equity instruments as of the end of the period | 58 | ||
Fair value through P&L - assets | BTC Limited | |||
Financial structure, financial costs and financial instruments | |||
Equity instruments as of the beginning of the period | 14 | 27 | 28 |
Change in fair value | (9) | (13) | (1) |
Equity instruments as of the end of the period | 5 | 14 | 27 |
Fair value through P&L - assets | Hubei Cathay Smart Energy Fund | |||
Financial structure, financial costs and financial instruments | |||
Equity instruments as of the beginning of the period | 36 | 36 | 15 |
Increase - Decrease | 7 | 1 | 21 |
Change in fair value | 11 | (1) | |
Equity instruments as of the end of the period | 54 | 36 | 36 |
Fair value through P&L - assets | Tas Helat Marketing Company | |||
Financial structure, financial costs and financial instruments | |||
Equity instruments as of the beginning of the period | 108 | ||
Increase - Decrease | (108) | ||
Fair value through P&L - assets | Other equity securities (unit value below $50 million) | |||
Financial structure, financial costs and financial instruments | |||
Equity instruments as of the beginning of the period | 1,002 | 1,103 | 1,059 |
Increase - Decrease | (54) | (107) | 63 |
Change in fair value | (75) | 6 | (19) |
Equity instruments as of the end of the period | $ 873 | $ 1,002 | $ 1,103 |
Equity affiliates, other inve_8
Equity affiliates, other investments and related parties - Related parties (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Balance sheet | |||
Receivables: Debtors and other debtors | $ 1,231 | $ 809 | $ 545 |
Loans (excl. loans to equity accounted for affiliates) | 184 | 113 | 89 |
Payables: Creditors and other creditors | 1,610 | 1,347 | 662 |
Payables: Debts | 5 | 2 | 3 |
Statement of income | |||
Sales | 6,806 | 4,250 | 3,134 |
Purchases | (25,656) | (13,473) | (7,183) |
Financial income | 3 | 1 | |
Financial expense | $ (9) | $ (8) | $ (6) |
Equity affiliates, other inve_9
Equity affiliates, other investments and related parties - Compensation (Details) $ in Thousands, € in Millions | 12 Months Ended | |||||
Dec. 31, 2022 USD ($) employee | Dec. 31, 2021 USD ($) employee | Dec. 31, 2020 USD ($) employee | Dec. 31, 2022 EUR (€) employee | Dec. 31, 2021 EUR (€) employee | Dec. 31, 2020 EUR (€) employee | |
Related party transactions | ||||||
Number of people | employee | 101,279 | 101,309 | 105,476 | 101,279 | 101,309 | 105,476 |
Direct or indirect compensation | $ | $ 12,400 | $ 11,900 | $ 12,600 | |||
Pension expense | $ | 1,900 | 1,400 | 1,500 | |||
Share-based payments expense | $ | 7,700 | 4,900 | 7,200 | |||
Severance provision | 64,300 | 90,700 | 129,000 | € 60.3 | € 80.1 | € 105.2 |
Directors' fees | $ | $ 1,840 | $ 2,060 | $ 1,440 | |||
Executive officers and members of the Board of Directors | ||||||
Related party transactions | ||||||
Number of people | employee | 11 | 11 | 11 | 11 | 11 | 11 |
Executive Officers | ||||||
Related party transactions | ||||||
Number of people | employee | 8 | 8 | 8 | 8 | 8 | 8 |
Board of Directors | ||||||
Related party transactions | ||||||
Number of people | employee | 3 | 3 | 3 | 3 | 3 | 3 |
Shareholders' equity and shar_3
Shareholders' equity and share-based payments - Number of shares (Details) € / shares in Units, $ in Millions | 12 Months Ended | |||
Dec. 31, 2022 USD ($) shareholder shares | Dec. 31, 2022 EUR (€) shareholder € / shares shares | Dec. 31, 2021 USD ($) shares | Dec. 31, 2020 USD ($) shares | |
Shareholders' equity and share-based payments | ||||
Share capital | $ 8,163 | € 6,547,828,212.50 | $ 8,224 | $ 8,267 |
Number of shares issued | 2,619,131,285 | 2,619,131,285 | ||
Common share par value (in Euros per shares) | € / shares | € 2.50 | |||
Number of categories of shares | shareholder | 1 | 1 | ||
Authorized share capital (in shares) | 3,664,966,081 | 3,664,966,081 | 3,686,636,841 | 3,668,371,962 |
Common shares | ||||
Shareholders' equity and share-based payments | ||||
Minimum holding period of shares to earn double voting rights | 2 years | |||
Shareholder maximum voting rights (as a percent) | 10% | 10% | ||
Shareholder maximum double voting rights (as a percent) | 20% | 20% | ||
Minimum ownership percentage for which voting restrictions do not apply | 66.67% | 66.67% |
Shareholders' equity and shar_4
Shareholders' equity and share-based payments - Share cancellation (Details) - Treasury shares - shares | 12 Months Ended | ||
May 25, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Shareholders' equity and share-based payments | |||
Number of shares bought back and cancelled for the purpose of the shareholder's policy | 30,665,526 | 23,284,409 | |
Percentage of the share capital cancelled | 1.16% | 0.88% | |
Limit of authorization for cancellation of shares, as percentage of capital | 10% | ||
Period of authorization for share cancellation | 24 months |
Shareholders' equity and shar_5
Shareholders' equity and share-based payments - Variation of the number of shares composing the share capital (Details) - shares | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Variation of the number of shares composing the share capital | ||||
Common shares issued as of the end of the period | 2,619,131,285 | |||
Treasury shares | 137,187,667 | 33,841,104 | 24,392,703 | 15,474,234 |
Common shares issued | ||||
Variation of the number of shares composing the share capital | ||||
Common shares issued as of the beginning of the period | 2,640,429,329 | 2,653,124,025 | 2,601,881,075 | |
Deferred contribution pursuant to capital increase reserved for employees | 9,471 | 18,879 | ||
Capital increase reserved for employees | 9,358,011 | 10,589,713 | 13,160,383 | |
Capital increase as payment of the scrip dividend | 38,063,688 | |||
Capital reduction by cancellation of treasury shares | (30,665,526) | (23,284,409) | ||
Common shares issued as of the end of the period | 2,619,131,285 | 2,640,429,329 | 2,653,124,025 |
Shareholders' equity and shar_6
Shareholders' equity and share-based payments - Capital increase reserved for Group employees (Details) - Capital increase reserved for employees | 12 Months Ended | |||||
Jun. 08, 2022 € / shares shares | May 25, 2022 | Jun. 09, 2021 € / shares shares | Jun. 11, 2020 EquityInstruments employee € / shares shares | Dec. 31, 2022 € / shares shares | Sep. 22, 2022 shares | |
Capital increase reserved for Group employees | ||||||
Maximum period over which the Board of Directors can increase capital reserve to members of a company or group savings plan | 26 months | |||||
Maximum capital increase reserved for employees (in shares) | 18,000,000 | |||||
Number of shares subscribed | 9,130,380 | 10,376,190 | 12,952,925 | 9,360,000 | ||
Subscription price | € / shares | € 37 | € 30.50 | € 26.20 | € 37 | ||
Free shares - Number of shares granted | 227,631 | 213,523 | 207,458 | |||
Shares granted | EquityInstruments | 1,380 | |||||
Number of beneficiaries | employee | 276 |
Shareholders' equity and shar_7
Shareholders' equity and share-based payments - Treasury shares (Details) - shares | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Shareholders' equity and share-based payments | ||||
Number of treasury shares | 137,187,667 | 33,841,104 | 24,392,703 | 15,474,234 |
TotalEnergies SE | ||||
Shareholders' equity and share-based payments | ||||
Number of treasury shares | 137,187,667 | 33,841,104 | 24,392,703 | |
Percentage of share capital represented by treasury shares | 5.24% | 1.28% | 0.92% | |
Shares acquired with the intention to cancel them | 128,869,261 | 30,665,526 | 23,284,409 | |
TotalEnergies SE | TotalEnergies share performance plans | ||||
Shareholders' equity and share-based payments | ||||
Shares allocated or intended to be allocated to share-based payment plans | 8,231,365 | 3,103,018 | 1,055,446 | |
TotalEnergies SE | New share performance or purchase options plans | ||||
Shareholders' equity and share-based payments | ||||
Shares allocated or intended to be allocated to share-based payment plans | 87,041 | 72,560 | 52,848 |
Shareholders' equity and shar_8
Shareholders' equity and share-based payments - Paid-in surplus and Reserves (Details) € in Millions, $ in Millions | Dec. 31, 2022 EUR (€) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 EUR (€) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 EUR (€) | Dec. 31, 2020 USD ($) |
Shareholders' equity and share-based payments | ||||||
Paid-in surplus | € | € 35,099 | € 36,030 | € 36,722 | |||
Reserves | ||||||
Percentage of net income that must be transferred to legal reserve | 5% | 5% | ||||
Required legal reserve as a percentage of share capital | 10% | 10% | ||||
Additional corporation tax if unrestricted reserves were wholly distributed | $ | $ 227 | $ 362 | $ 492 |
Shareholders' equity and shar_9
Shareholders' equity and share-based payments - Earnings per share (Details) | 12 Months Ended | ||||
Dec. 31, 2022 $ / shares shares | Dec. 31, 2022 € / shares shares | Dec. 31, 2021 $ / shares shares | Dec. 31, 2021 € / shares shares | Dec. 31, 2020 $ / shares shares | |
Earnings per share in euros | |||||
Earnings per share (in dollars or Euros per share) | (per share) | $ 7.91 | € 7.51 | $ 5.95 | € 5.03 | $ (2.90) |
Diluted earnings per share (in dollars or Euros per share) | (per share) | $ 7.85 | € 7.45 | $ 5.92 | € 5.01 | $ (2.90) |
Common shares issued | |||||
Number of shares issued during the year pro-rated | |||||
Common shares issued as of the beginning of the period | 2,640,429,329 | 2,640,429,329 | 2,653,124,025 | 2,653,124,025 | 2,601,881,075 |
TotalEnergies shares held by TotalEnergies SE or by its subsidiaries and deducted from shareholders' equity | (33,841,104) | (33,841,104) | (24,392,703) | (24,392,703) | (15,474,234) |
Final grant of TotalEnergies performance shares | 5,152,336 | 5,152,336 | 3,810,430 | 3,810,430 | 2,154,064 |
Capital increase reserved for employees | 5,465,154 | 5,465,154 | 6,177,333 | 6,177,333 | 7,689,476 |
Capital increase as payment of the scrip dividend | 17,445,857 | ||||
Buyback of TotalEnergies treasury shares including: | (62,498,318) | (62,498,318) | (7,296,460) | (7,296,460) | (11,669,489) |
Shares repurchased during the fiscal year to cancel the dilution caused by the scrip dividend payment and within the framework of the share buyback program | (58,621,530) | (58,621,530) | (3,762,794) | (3,762,794) | (10,666,710) |
Shares repurchased during the fiscal year to cover for the performance share plans | (3,876,788) | (3,876,788) | (3,533,666) | (3,533,666) | (1,002,779) |
WEIGHTED-AVERAGE NUMBER OF SHARES | 2,554,707,397 | 2,554,707,397 | 2,631,422,625 | 2,631,422,625 | 2,602,026,749 |
Dilutive effect | |||||
Grant of TotalEnergies performance shares | 15,890,560 | 15,890,560 | 14,492,673 | 14,492,673 | |
Capital increase reserved for employees | 1,584,068 | 1,584,068 | 1,552,947 | 1,552,947 | |
WEIGHTED-AVERAGE NUMBER OF DILUTED SHARES | 2,572,182,025 | 2,572,182,025 | 2,647,468,245 | 2,647,468,245 | 2,602,026,749 |
Performance shares and capital increase reserved for employees with anti-dilutive effect | 19,007,836 |
Shareholders' equity and sha_10
Shareholders' equity and share-based payments - Dividend (Details) - € / shares | 12 Months Ended | ||||
Feb. 07, 2023 | Oct. 26, 2022 | Jul. 27, 2022 | Apr. 27, 2022 | Dec. 31, 2022 | |
Dividend | |||||
Dividend for the 2022 fiscal year, to be submitted at shareholders' meeting (in Euros per share) | € 2.81 | ||||
Final dividend proposed by Board of Directors (in Euros per share) | € 0.74 | ||||
Dividend recognised (in Euros per share) | € 0.69 | € 0.69 | € 0.69 | ||
Special interim dividend (in Euros per share) | € 1 | ||||
Ordinary dividend plus special dividend (in Euros per share) | € 3.81 |
Shareholders' equity and sha_11
Shareholders' equity and share-based payments - Perpetual subordinated notes (Details) € in Millions, $ in Millions | 12 Months Ended | |||||||||||||
May 18, 2022 EUR (€) | Jan. 17, 2022 EUR (€) tranche | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | Dec. 31, 2022 EUR (€) | Dec. 31, 2021 EUR (€) | Jan. 25, 2021 EUR (€) | Dec. 31, 2020 EUR (€) | Sep. 04, 2020 EUR (€) | Apr. 04, 2019 EUR (€) | Oct. 06, 2016 EUR (€) | May 18, 2016 EUR (€) | Feb. 26, 2015 EUR (€) | |
Shareholders' equity and share-based payments | ||||||||||||||
Amount of perpetual deeply subordinated notes recorded in equity | $ | $ 13,882 | |||||||||||||
Coupons booked in deduction of shareholders' equity | $ | $ 331 | $ 368 | $ 308 | |||||||||||
Number of tranches | tranche | 2 | |||||||||||||
Perpetual subordinated notes | ||||||||||||||
Shareholders' equity and share-based payments | ||||||||||||||
Notional amount | € 12,250 | € 12,250 | € 9,547 | |||||||||||
Perpetual subordinated notes issued, 2.000%, callable after 5.25 years | ||||||||||||||
Shareholders' equity and share-based payments | ||||||||||||||
Interest rate (as percent) | 2% | |||||||||||||
Years after which notes are callable | 5 years 3 months | |||||||||||||
Notional amount | € 1,000 | 1,000 | ||||||||||||
Perpetual subordinated notes issued, 3.250%, callable after 15 years | ||||||||||||||
Shareholders' equity and share-based payments | ||||||||||||||
Interest rate (as percent) | 3.25% | |||||||||||||
Years after which notes are callable | 15 years | |||||||||||||
Notional amount | € 750 | 750 | ||||||||||||
Perpetual subordinated notes issued, 2.125%, callable after 12 years | ||||||||||||||
Shareholders' equity and share-based payments | ||||||||||||||
Interest rate (as percent) | 2.125% | |||||||||||||
Notional amount | 1,500 | 1,500 | € 1,500 | |||||||||||
Perpetual subordinated notes issued, 1.625%, callable after 7 years | ||||||||||||||
Shareholders' equity and share-based payments | ||||||||||||||
Interest rate (as percent) | 1.625% | |||||||||||||
Notional amount | 1,500 | 1,500 | € 1,500 | |||||||||||
Perpetual subordinated notes issued, 2.000%, callable after 10 years | ||||||||||||||
Shareholders' equity and share-based payments | ||||||||||||||
Interest rate (as percent) | 2% | |||||||||||||
Notional amount | 1,000 | 1,000 | 1,000 | € 1,000 | ||||||||||
Perpetual subordinated notes issued, 1.750%, callable after 5 years | ||||||||||||||
Shareholders' equity and share-based payments | ||||||||||||||
Interest rate (as percent) | 1.75% | |||||||||||||
Notional amount | 1,500 | 1,500 | 1,500 | € 1,500 | ||||||||||
Subordinated note, 3.369%, perpetual maturity callable after 10 years | ||||||||||||||
Shareholders' equity and share-based payments | ||||||||||||||
Interest rate (as percent) | 3.369% | |||||||||||||
Notional amount | 1,500 | 1,500 | 1,500 | € 1,500 | ||||||||||
Subordinated note, 2.708%, perpetual maturity callable after 6.6 years | ||||||||||||||
Shareholders' equity and share-based payments | ||||||||||||||
Interest rate (as percent) | 2.708% | |||||||||||||
Notional amount | 1,000 | 1,000 | 1,000 | € 1,000 | ||||||||||
Subordinated note, 3.875%, perpetual maturity callable after 6 years | ||||||||||||||
Shareholders' equity and share-based payments | ||||||||||||||
Interest rate (as percent) | 3.875% | 3.875% | ||||||||||||
Notional amount | 1,750 | 1,750 | € 1,750 | |||||||||||
Amount repaid | € 1,750 | |||||||||||||
Subordinated note, 2.250%, perpetual maturity callable after 6 years | ||||||||||||||
Shareholders' equity and share-based payments | ||||||||||||||
Interest rate (as percent) | 2.25% | |||||||||||||
Notional amount | 297 | € 2,500 | ||||||||||||
Subordinated note, 2.625%, perpetual maturity callable after 10 years | ||||||||||||||
Shareholders' equity and share-based payments | ||||||||||||||
Interest rate (as percent) | 2.625% | |||||||||||||
Notional amount | € 2,500 | € 2,500 | € 2,500 | € 2,500 |
Shareholders' equity and sha_12
Shareholders' equity and share-based payments - Other comprehensive income (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Shareholders' equity and share-based payments. | |||
Actuarial gains and losses | $ 574 | $ 1,035 | $ (212) |
Change in fair value of investments in equity instruments | 112 | 66 | 533 |
Tax effect | (96) | (411) | 65 |
Currency translation adjustment generated by the parent company | (4,976) | (7,202) | 7,541 |
Items not potentially reclassifiable to profit and loss | (4,386) | (6,512) | 7,927 |
Currency translation adjustment | 1,734 | 4,216 | (4,645) |
Unrealized gain/(loss) of the period | 1,974 | 4,380 | (4,607) |
Less gain/(loss) included in net income | 240 | 164 | 38 |
Cash flow hedge | (5,452) | 278 | (313) |
Unrealized gain/(loss) of the period | (4,190) | 109 | (175) |
Less gain/(loss) included in net income | 1,262 | (169) | 138 |
Variation of foreign currency basis spread | 65 | 2 | 28 |
unrealized gain/(loss) of the period | 26 | (47) | (22) |
less gain/(loss) included in net income | (39) | (49) | (50) |
Share of other comprehensive income of equity affiliates, net amount | 3,497 | 706 | (1,831) |
Unrealized gain/(loss) of the period | 1,071 | 626 | (1,841) |
Less gain/(loss) included in net income | (2,426) | (80) | (10) |
Other | (16) | (1) | (8) |
Tax effect | 1,449 | (135) | 72 |
Sub-total items potentially reclassifiable to profit and loss | 1,277 | 5,066 | (6,697) |
TOTAL OTHER COMPREHENSIVE INCOME, NET AMOUNT | $ (3,109) | $ (1,446) | $ 1,230 |
Shareholders' equity and sha_13
Shareholders' equity and share-based payments - Currency translation adjustment (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Other comprehensive income | |||
Currency translation adjustment generated by the parent company | $ (4,976) | $ (7,202) | $ 7,541 |
Currency translation adjustment | 1,734 | 4,216 | (4,645) |
Currency translation adjustment of equity affiliates | 3,002 | 536 | (1,657) |
TOTAL CURRENCY TRANSLATION ADJUSTMENT RECOGNIZED IN COMPREHENSIVE INCOME | (240) | (2,450) | 1,239 |
Euro | |||
Other comprehensive income | |||
Currency translation adjustment generated by the parent company | (4,976) | (7,202) | 7,541 |
Currency translation adjustment | 3,120 | 4,654 | (4,668) |
Currency translation adjustment of equity affiliates | (1,076) | 730 | (851) |
TOTAL CURRENCY TRANSLATION ADJUSTMENT RECOGNIZED IN COMPREHENSIVE INCOME | (2,932) | (1,818) | 2,022 |
Pound Sterling | |||
Other comprehensive income | |||
Currency translation adjustment | (592) | (180) | 115 |
Currency translation adjustment of equity affiliates | 31 | 4 | (11) |
TOTAL CURRENCY TRANSLATION ADJUSTMENT RECOGNIZED IN COMPREHENSIVE INCOME | (561) | (176) | 104 |
Ruble | |||
Other comprehensive income | |||
Currency translation adjustment | 4 | (1) | (12) |
Currency translation adjustment of equity affiliates | 4,247 | (27) | (886) |
TOTAL CURRENCY TRANSLATION ADJUSTMENT RECOGNIZED IN COMPREHENSIVE INCOME | 4,251 | (28) | (898) |
Other currencies | |||
Other comprehensive income | |||
Currency translation adjustment | (798) | (257) | (80) |
Currency translation adjustment of equity affiliates | (200) | (171) | 91 |
TOTAL CURRENCY TRANSLATION ADJUSTMENT RECOGNIZED IN COMPREHENSIVE INCOME | $ (998) | $ (428) | $ 11 |
Shareholders' equity and sha_14
Shareholders' equity and share-based payments - Tax effects of other comprehensive income (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Pre-tax amount | |||
Actuarial gains and losses | $ 574 | $ 1,035 | $ (212) |
Change in fair value of investments in equity instruments | 112 | 66 | 533 |
Currency translation adjustment generated by the parent company | (4,976) | (7,202) | 7,541 |
Sub-total items not potentially reclassifiable to profit & loss | (4,290) | (6,101) | 7,862 |
Currency translation adjustment | 1,734 | 4,216 | (4,645) |
Cash flow hedge | (5,452) | 278 | (313) |
Variation of foreign currency basis spread | 65 | 2 | 28 |
Share of other comprehensive income of equity affiliates, net amount | 3,497 | 706 | (1,831) |
Other | (16) | (1) | (8) |
Sub-total items potentially reclassifiable to profit & loss | (172) | 5,201 | (6,769) |
TOTAL OTHER COMPREHENSIVE INCOME | (4,462) | (900) | 1,093 |
Tax effect | |||
Actuarial gains and losses | (106) | (372) | 47 |
Change in fair value of investments in equity instruments | 10 | (39) | 18 |
Sub-total items not potentially reclassifiable to profit and loss | (96) | (411) | 65 |
Cash flow hedge | 1,466 | (130) | 79 |
Variation of foreign currency basis spread | (17) | (5) | (7) |
Sub-total items potential reclassifiable to profit and loss | 1,449 | (135) | 72 |
TOTAL OTHER COMPREHENSIVE INCOME | 1,353 | (546) | 137 |
Net amount | |||
Actuarial gains and losses | 468 | 663 | (165) |
Change in fair value of investments in equity instruments | 122 | 27 | 551 |
Currency translation adjustment generated by the parent company | (4,976) | (7,202) | 7,541 |
Items not potentially reclassifiable to profit and loss | (4,386) | (6,512) | 7,927 |
Currency translation adjustment | 1,734 | 4,216 | (4,645) |
Cash flow hedge | (3,986) | 148 | (234) |
Variation of foreign currency basis spread | 48 | (3) | 21 |
Share of other comprehensive income of equity affiliates, net amount | 3,497 | 706 | (1,831) |
Other | (16) | (1) | (8) |
Items potentially reclassifiable to profit and loss | 1,277 | 5,066 | (6,697) |
TOTAL OTHER COMPREHENSIVE INCOME, NET AMOUNT | $ (3,109) | $ (1,446) | $ 1,230 |
Shareholders' equity and sha_15
Shareholders' equity and share-based payments - TOTALEnergies Option plans (Details) | May 29, 2020 |
TotalEnergies share subscription or purchase option plans | |
Share-based payments | |
Period of authorisation to grant share subscription or purchase options | 38 months |
Shareholders' equity and sha_16
Shareholders' equity and share-based payments - TOTALEnergies performance share plans (Details) | 12 Months Ended | ||||||||
Dec. 31, 2022 item EquityInstruments | Dec. 31, 2021 EquityInstruments | Dec. 31, 2020 EquityInstruments | Mar. 16, 2022 EUR (€) | May 28, 2021 EUR (€) | Mar. 18, 2020 EUR (€) | Mar. 19, 2019 EUR (€) | Mar. 14, 2018 EUR (€) | Jul. 26, 2017 EUR (€) | |
TotalEnergies performance share plans | |||||||||
Share-based payments | |||||||||
Outstanding as of the beginning of the period | 19,675,018 | 19,021,217 | 18,043,937 | ||||||
Notified (in shares) | 7,353,271 | 6,764,548 | 6,727,352 | ||||||
Cancelled (in shares) | (278,513) | (1,537,552) | (1,432,497) | ||||||
Finally granted (in shares) | (6,195,654) | (4,573,195) | (4,317,575) | ||||||
Outstanding as of the end of the period | 20,554,122 | 19,675,018 | 19,021,217 | ||||||
Vesting period | 3 years | ||||||||
Holding period for non-transferability of shares | 2 years | ||||||||
TotalEnergies performance share plans - 2017-2018 Plans | |||||||||
Share-based payments | |||||||||
Number of performance conditions | item | 2 | ||||||||
TotalEnergies performance share plans - 2017 Plan | |||||||||
Share-based payments | |||||||||
Grant date IFRS 2 fair value | € | € 35.57 | ||||||||
Outstanding as of the beginning of the period | 5,607,859 | ||||||||
Cancelled (in shares) | (1,313,687) | ||||||||
Finally granted (in shares) | (4,294,172) | ||||||||
TotalEnergies performance share plans - 2018 Plan | |||||||||
Share-based payments | |||||||||
Grant date IFRS 2 fair value | € | € 36.22 | ||||||||
Outstanding as of the beginning of the period | 5,961,865 | 6,028,435 | |||||||
Cancelled (in shares) | (1,395,555) | (55,830) | |||||||
Finally granted (in shares) | (4,566,310) | (10,740) | |||||||
Outstanding as of the end of the period | 5,961,865 | ||||||||
TotalEnergies performance share plans - 2019 Plan | |||||||||
Share-based payments | |||||||||
Grant date IFRS 2 fair value | € | € 40.11 | ||||||||
Outstanding as of the beginning of the period | 6,289,076 | 6,352,464 | 6,407,643 | ||||||
Cancelled (in shares) | (127,852) | (58,578) | (44,289) | ||||||
Finally granted (in shares) | (6,161,224) | (4,810) | (10,890) | ||||||
Outstanding as of the end of the period | 6,289,076 | 6,352,464 | |||||||
Number of performance conditions | item | 3 | ||||||||
TotalEnergies performance share plans - 2020 Plan | |||||||||
Share-based payments | |||||||||
Grant date IFRS 2 fair value | € | € 12.40 | ||||||||
Outstanding as of the beginning of the period | 6,653,202 | 6,706,888 | |||||||
Notified (in shares) | 6,727,352 | ||||||||
Cancelled (in shares) | (65,561) | (52,301) | (18,691) | ||||||
Finally granted (in shares) | (12,680) | (1,385) | (1,773) | ||||||
Outstanding as of the end of the period | 6,574,961 | 6,653,202 | 6,706,888 | ||||||
Number of performance conditions | item | 4 | ||||||||
TotalEnergies performance share plans - 2021-2022 Plans | |||||||||
Share-based payments | |||||||||
Number of performance conditions | item | 5 | ||||||||
TotalEnergies performance share plans - 2021 Plan | |||||||||
Share-based payments | |||||||||
Grant date IFRS 2 fair value | € | € 27.40 | ||||||||
Outstanding as of the beginning of the period | 6,732,740 | ||||||||
Notified (in shares) | 6,764,548 | ||||||||
Cancelled (in shares) | (57,410) | (31,118) | |||||||
Finally granted (in shares) | (13,750) | (690) | |||||||
Outstanding as of the end of the period | 6,661,580 | 6,732,740 | |||||||
TotalEnergies performance share plans - 2022 Plan | |||||||||
Share-based payments | |||||||||
Grant date IFRS 2 fair value | € | € 37.22 | ||||||||
Notified (in shares) | 7,353,271 | ||||||||
Cancelled (in shares) | (27,690) | ||||||||
Finally granted (in shares) | (8,000) | ||||||||
Outstanding as of the end of the period | 7,317,581 | ||||||||
Number of performance conditions | item | 5 | ||||||||
First number of shares granted to non-senior executives, not subject to performance conditions | item | 150 | ||||||||
Percentage of shares ranked against peers based on TSR criterion | 25% | ||||||||
Percentage of shares ranked against peers based on annual variation in net cash flow per share criterion | 25% | ||||||||
Percentage of shares for which pre-dividend organic cash breakeven criterion is assessed | 20% | ||||||||
Percentage of shares ranked based on change in GHG on operated oil and gas facilities | 15% | ||||||||
Percentage of shares ranked based on change in indirect green house gas emissions | 15% |
Shareholders' equity and sha_17
Shareholders' equity and share-based payments - Expense (Details) $ in Millions | 1 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2022 | Sep. 30, 2022 | Jun. 08, 2022 € / shares shares | Jun. 09, 2021 € / shares shares | Jun. 11, 2020 € / shares shares | Sep. 30, 2022 | Dec. 31, 2022 € / shares | Dec. 31, 2022 USD ($) shares | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Share-based payments | ||||||||||
Share-based expense | $ 251 | $ 168 | $ 214 | |||||||
SunPower Corporation | Subsidiary that holds ownership in SunPower Corporation | ||||||||||
Share-based payments | ||||||||||
Percentage of ownership interest in subsidiary | 50.50% | 50.50% | 50.50% | |||||||
TotalEnergies performance share plans | ||||||||||
Share-based payments | ||||||||||
Share-based expense | 200 | 129 | 176 | |||||||
SunPower Plans | ||||||||||
Share-based payments | ||||||||||
Share-based expense | 23 | 25 | 26 | |||||||
Capital increase reserved for employees | ||||||||||
Share-based payments | ||||||||||
Share-based expense | $ 28 | $ 14 | $ 12 | |||||||
Assumptions used for the valuation of the cost of the capital | ||||||||||
Reference price | € / shares | € 46.22 | |||||||||
Subscription price | € / shares | € 37 | € 30.50 | € 26.20 | € 37 | ||||||
Number of shares | shares | 9,130,380 | 10,376,190 | 12,952,925 | 9,360,000 | ||||||
Trading period to determine subscription price | 20 days | |||||||||
Subscription price discount (as a percent) | 20% |
Payroll, staff and employee b_3
Payroll, staff and employee benefits obligations - Liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Employee benefits obligations | |||
Restructuring reserves (early retirement plans) | $ 54 | $ 73 | $ 106 |
TOTAL | 1,829 | 2,672 | 3,917 |
Net liabilities related to assets held for sale | (1) | 1 | |
Pension benefits | |||
Employee benefits obligations | |||
Pension benefits and other benefits liabilities | 1,308 | 1,966 | 3,111 |
Net liabilities related to assets held for sale | (1) | 1 | |
Other benefits | |||
Employee benefits obligations | |||
Pension benefits and other benefits liabilities | $ 467 | $ 633 | $ 700 |
Payroll, staff and employee b_4
Payroll, staff and employee benefits obligations - Plans and risk management (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Payroll, staff and employee benefits obligations | |||
Charge recognized for defined contribution plans | $ 152 | $ 145 | $ 135 |
Payroll, staff and employee b_5
Payroll, staff and employee benefits obligations - Change in benefit obligations and plan assets (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Change in benefit obligations and plan assets | |||
Net benefit liabilities relating to assets held for sale | $ (1) | $ 1 | |
Euro zone | |||
Change in benefit obligations and plan assets | |||
Contribution for the net pension liability in the balance sheet (as a percent) | 85% | ||
United Kingdom | |||
Change in benefit obligations and plan assets | |||
Contribution for the net pension liability in the balance sheet (as a percent) | (10.00%) | ||
United States | |||
Change in benefit obligations and plan assets | |||
Contribution for the net pension liability in the balance sheet (as a percent) | 24% | ||
Pension benefits | |||
Change in benefit obligations and plan assets | |||
Balance at beginning of period | $ 1,587 | 3,047 | |
Balance at end of period | 1,007 | 1,587 | 3,047 |
UNFUNDED STATUS | 961 | 1,546 | 3,011 |
Pension benefits and other benefits liabilities | 1,308 | 1,966 | 3,111 |
Other non-current assets | (301) | (378) | (65) |
Net benefit liabilities relating to assets held for sale | (1) | 1 | |
Pension benefits | Benefit obligation | |||
Change in benefit obligations and plan assets | |||
Balance at beginning of period | 11,777 | 13,591 | 12,285 |
Current service cost | 202 | 247 | 244 |
Interest cost (income) | 195 | 164 | 217 |
Past service cost | 27 | (197) | |
Settlements | 5 | 3 | (10) |
Plan participants' contributions | 17 | 17 | 10 |
Benefits paid | (661) | (704) | (702) |
Actuarial losses / (gains) | (2,502) | (734) | 818 |
Foreign currency translation and other | (793) | (610) | 729 |
Balance at end of period | 8,267 | 11,777 | 13,591 |
Pension benefits | Benefit obligation | Plans entirely or partially funded | |||
Change in benefit obligations and plan assets | |||
Balance at beginning of period | 11,143 | 12,830 | |
Balance at end of period | 7,806 | 11,143 | 12,830 |
Pension benefits | Benefit obligation | Plans not funded | |||
Change in benefit obligations and plan assets | |||
Balance at beginning of period | 634 | 761 | |
Balance at end of period | 461 | 634 | 761 |
Pension benefits | Plan assets | |||
Change in benefit obligations and plan assets | |||
Balance at beginning of period | (10,231) | (10,580) | (9,769) |
Interest cost (income) | (190) | (146) | (191) |
Settlements | 2 | 2 | |
Plan participants' contributions | (17) | (17) | (10) |
Employer contributions | (260) | (303) | (229) |
Benefits paid | 607 | 635 | 622 |
Actuarial losses / (gains) | 2,083 | (290) | (517) |
Foreign currency translation and other | 700 | 470 | (488) |
Balance at end of period | (7,306) | (10,231) | (10,580) |
Pension benefits | Asset ceiling | |||
Change in benefit obligations and plan assets | |||
Balance at beginning of period | 41 | 36 | |
Balance at end of period | 46 | 41 | 36 |
Other benefits | |||
Change in benefit obligations and plan assets | |||
Balance at beginning of period | 633 | 700 | |
Balance at end of period | 467 | 633 | 700 |
UNFUNDED STATUS | 467 | 633 | 700 |
Pension benefits and other benefits liabilities | 467 | 633 | 700 |
Other benefits | Benefit obligation | |||
Change in benefit obligations and plan assets | |||
Balance at beginning of period | 633 | 700 | 742 |
Current service cost | 15 | 17 | 19 |
Interest cost (income) | 12 | 8 | 11 |
Past service cost | 9 | (1) | |
Settlements | (3) | ||
Plan participants' contributions | 1 | ||
Benefits paid | (22) | (34) | (27) |
Actuarial losses / (gains) | (155) | (11) | (89) |
Foreign currency translation and other | (25) | (46) | 47 |
Balance at end of period | 467 | 633 | 700 |
Other benefits | Benefit obligation | Plans not funded | |||
Change in benefit obligations and plan assets | |||
Balance at beginning of period | 633 | 700 | |
Balance at end of period | $ 467 | $ 633 | $ 700 |
Payroll, staff and employee b_6
Payroll, staff and employee benefits obligations - Recognized in income and comprehensive income (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Actuarial (Gains) Losses | |||
Benefit amounts recognized on Equity | $ (574) | $ (1,035) | $ 212 |
Pension benefits | |||
Employee benefits obligations | |||
Current service cost | 202 | 247 | 244 |
Past service cost | 27 | (197) | |
Settlements | 7 | 3 | (7) |
Net interest cost | 5 | 18 | 25 |
Benefit amounts recognized on Profit & Loss | 241 | 71 | 262 |
Actuarial (Gains) Losses | |||
Effect of changes in demographic assumptions | 1 | (71) | (12) |
Effect of changes in financial assumptions | (2,617) | (450) | 773 |
Effect of experience adjustments | 111 | (214) | 57 |
Actual return on plan assets | 2,083 | (294) | (517) |
Effect of asset ceiling | 3 | 5 | |
Benefit amounts recognized on Equity | (419) | (1,024) | 301 |
TOTAL BENEFIT AMOUNTS RECOGNIZED ON COMPREHENSIVE INCOME | (178) | (953) | 563 |
Other benefits | |||
Employee benefits obligations | |||
Current service cost | 15 | 17 | 19 |
Past service cost | 9 | (1) | |
Settlements | (3) | ||
Net interest cost | 12 | 8 | 11 |
Benefit amounts recognized on Profit & Loss | 36 | 24 | 27 |
Actuarial (Gains) Losses | |||
Effect of changes in demographic assumptions | (9) | (8) | (3) |
Effect of changes in financial assumptions | (138) | 2 | (1) |
Effect of experience adjustments | (8) | (5) | (85) |
Benefit amounts recognized on Equity | (155) | (11) | (89) |
TOTAL BENEFIT AMOUNTS RECOGNIZED ON COMPREHENSIVE INCOME | $ (119) | $ 13 | $ (62) |
Payroll, staff and employee b_7
Payroll, staff and employee benefits obligations - Expected future cash outflows (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2022 USD ($) | |
Pension benefits | |
Employee benefits obligations | |
Weighted average duration of accrued benefits | 12 years |
Expected contributions in respect of funded pension plans in 2020 | $ 234 |
Pension benefits | Not later than one year | |
Employee benefits obligations | |
Estimated future payments | 586 |
Pension benefits | Year 2 | |
Employee benefits obligations | |
Estimated future payments | 495 |
Pension benefits | Year 3 | |
Employee benefits obligations | |
Estimated future payments | 504 |
Pension benefits | Year 4 | |
Employee benefits obligations | |
Estimated future payments | 537 |
Pension benefits | Year 5 | |
Employee benefits obligations | |
Estimated future payments | 589 |
Pension benefits | Year 5 through 10 | |
Employee benefits obligations | |
Estimated future payments | $ 3,059 |
Other benefits | |
Employee benefits obligations | |
Weighted average duration of accrued benefits | 15 years |
Other benefits | Not later than one year | |
Employee benefits obligations | |
Estimated future payments | $ 25 |
Other benefits | Year 2 | |
Employee benefits obligations | |
Estimated future payments | 25 |
Other benefits | Year 3 | |
Employee benefits obligations | |
Estimated future payments | 25 |
Other benefits | Year 4 | |
Employee benefits obligations | |
Estimated future payments | 25 |
Other benefits | Year 5 | |
Employee benefits obligations | |
Estimated future payments | 25 |
Other benefits | Year 5 through 10 | |
Employee benefits obligations | |
Estimated future payments | $ 121 |
Payroll, staff and employee b_8
Payroll, staff and employee benefits obligations - Type of assets (Details) - Pension benefits | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Asset allocation | |||
Equity securities | 26% | 39% | 25% |
Debt securities | 46% | 35% | 45% |
Monetary | 3% | 1% | 2% |
Annuity contracts | 17% | 17% | 20% |
Real estate | 8% | 8% | 8% |
Payroll, staff and employee b_9
Payroll, staff and employee benefits obligations - Actuarial assumptions (Details) | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Pension benefits | |||
Assumptions used to determine benefits obligations | |||
Discount rate (as a percent) | 4.39% | 1.82% | 1.28% |
Inflation rate (as a percent) | 2.91% | 2.41% | 2.06% |
Pension benefits | Euro zone | |||
Assumptions used to determine benefits obligations | |||
Discount rate (as a percent) | 3.70% | 0.99% | 0.52% |
Inflation rate (as a percent) | 2.49% | 1.71% | 1.24% |
Pension benefits | United States | |||
Assumptions used to determine benefits obligations | |||
Discount rate (as a percent) | 4.50% | 3% | 2.50% |
Inflation rate (as a percent) | 2.50% | 2.50% | 2.50% |
Pension benefits | United Kingdom | |||
Assumptions used to determine benefits obligations | |||
Discount rate (as a percent) | 4.75% | 2% | 1.50% |
Inflation rate (as a percent) | 3.25% | 3.25% | 3% |
Other benefits | |||
Assumptions used to determine benefits obligations | |||
Discount rate (as a percent) | 4.45% | 1.83% | 1.41% |
Other benefits | Euro zone | |||
Assumptions used to determine benefits obligations | |||
Discount rate (as a percent) | 3.48% | 1.05% | 0.68% |
Other benefits | United States | |||
Assumptions used to determine benefits obligations | |||
Discount rate (as a percent) | 4.50% | 3% | 2.50% |
Payroll, staff and employee _10
Payroll, staff and employee benefits obligations - Sensitivity analysis (Details) $ in Millions | Dec. 31, 2022 USD ($) |
Discount rates | |
Sensitivity analysis | |
Increase in actuarial assumption (as a percent) | 0.50% |
Decrease in actuarial assumption (as a percent) | 0.50% |
Impact on benefit obligation from increase in actuarial assumption | $ (510) |
Impact on benefit obligation from decrease in actuarial assumption | $ 623 |
Inflation rates | |
Sensitivity analysis | |
Increase in actuarial assumption (as a percent) | 0.50% |
Decrease in actuarial assumption (as a percent) | 0.50% |
Impact on benefit obligation from increase in actuarial assumption | $ 303 |
Impact on benefit obligation from decrease in actuarial assumption | $ (284) |
Payroll, staff and employee _11
Payroll, staff and employee benefits obligations - Payroll and staff (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 USD ($) employee | Dec. 31, 2021 USD ($) employee | Dec. 31, 2020 USD ($) employee | |
Personnel expenses | |||
Wages and salaries (including social charges) | $ | $ 9,002 | $ 9,207 | $ 8,908 |
Group employees | |||
Total | 101,279 | 101,309 | 105,476 |
France | |||
Group employees | |||
Management | 14,130 | 13,903 | 14,016 |
Other | 20,829 | 21,232 | 21,886 |
International | |||
Group employees | |||
Management | 18,183 | 17,346 | 17,102 |
Other | 48,137 | 48,828 | 52,472 |
Income taxes - Current and defe
Income taxes - Current and deferred (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Income taxes | |||
Current income taxes | $ (19,825) | $ (8,158) | $ (2,450) |
Deferred income taxes | (2,417) | (1,429) | 2,132 |
TOTAL INCOME TAXES | $ (22,242) | $ (9,587) | $ (318) |
Income taxes - Deferred tax bal
Income taxes - Deferred tax balances (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Deferred tax assets and liabilities | ||||
NET DEFERRED TAX LIABILITY | $ (5,972) | $ (5,504) | $ (3,310) | $ (5,642) |
Net operating losses and tax carry forwards | ||||
Deferred tax assets and liabilities | ||||
Deferred tax asset | 3,600 | 5,129 | 5,106 | |
Employee benefits | ||||
Deferred tax assets and liabilities | ||||
Deferred tax asset | 409 | 586 | 1,004 | |
Other temporary non-deductible provisions or tax deductions | ||||
Deferred tax assets and liabilities | ||||
Deferred tax asset | 8,813 | 8,235 | 9,068 | |
Deferred tax liability | (4,102) | (4,221) | (3,847) | |
Differences in depreciations | ||||
Deferred tax assets and liabilities | ||||
Deferred tax liability | $ (14,692) | $ (15,233) | $ (14,641) |
Income taxes - Deferred tax ass
Income taxes - Deferred tax assets not recognized (Details) $ in Millions | Dec. 31, 2022 USD ($) |
Deferred tax assets and liabilities | |
Undistributed reserves of subsidiaries for which no deferred tax liability is recognized | $ 1,103 |
Unrecognised deferred tax assets | 3,854 |
France | |
Deferred tax assets and liabilities | |
Unrecognised deferred tax assets | 1,189 |
Canada | |
Deferred tax assets and liabilities | |
Unrecognised deferred tax assets | $ 998 |
Income taxes - Deferred tax b_2
Income taxes - Deferred tax balance sheet presentation (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Deferred taxes presented on the balance sheet | ||||
Deferred tax assets | $ 5,049 | $ 5,400 | $ 7,016 | |
Deferred tax liabilities | (11,021) | (10,904) | (10,326) | |
NET DEFERRED TAX LIABILITY | $ (5,972) | $ (5,504) | $ (3,310) | $ (5,642) |
Income taxes - Deferred tax var
Income taxes - Deferred tax variation (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Reconciliation of deferred tax variation | |||
Opening balance | $ (5,504) | $ (3,310) | $ (5,642) |
Deferred tax on income | (2,417) | (1,429) | 2,132 |
Deferred tax on shareholders' equity | 1,353 | (546) | 137 |
Changes in scope of consolidation and others | 218 | (315) | 76 |
Currency translation adjustment | 378 | 96 | (13) |
CLOSING BALANCE | $ (5,972) | $ (5,504) | $ (3,310) |
Income taxes - Reconciliation (
Income taxes - Reconciliation (Details) $ in Millions, € in Billions | 12 Months Ended | |||
Dec. 31, 2022 USD ($) | Dec. 31, 2022 EUR (€) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Reconciliation between provision for income taxes and pre-tax income | ||||
Consolidated net income | $ 21,044 | $ 16,366 | $ (7,336) | |
Income taxes | 22,242 | 9,587 | 318 | |
Pre-tax income | $ 43,286 | $ 25,953 | $ (7,018) | |
French statutory tax rate (as a percent) | 25.83% | 25.83% | 28.41% | 32.02% |
Theoretical tax charge | $ (11,181) | $ (7,373) | $ 2,247 | |
Difference between French and foreign income tax rates | (9,625) | (3,754) | (1,109) | |
Tax effect on equity in income (loss) of affiliates | (489) | 977 | 145 | |
Permanent differences | (676) | 738 | 665 | |
Adjustments on prior years income taxes | 64 | 109 | (31) | |
Adjustments on deferred tax related to changes in tax rates | (610) | (119) | (204) | |
Variation of deferred tax assets not recognized | 275 | (165) | (2,031) | |
TOTAL INCOME TAXES | $ (22,242) | $ (9,587) | $ (318) | |
Standard corporate tax rate (as a percent) | 25% | 25% | 25% | 25% |
European Solidarity Contribution | € | € 0.9 | |||
European Solidarity Contribution, including contribution on sub-marginal rent of electricity production | $ 1,100 | € 1 |
Income taxes - Carried forward
Income taxes - Carried forward tax credits (Details) - Net operating losses and tax carry forwards - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Deferred tax assets and liabilities | |||
Deferred tax assets | $ 3,600 | $ 5,129 | $ 5,106 |
Australia | |||
Deferred tax assets and liabilities | |||
Deferred tax assets | 820 | ||
United States | |||
Deferred tax assets and liabilities | |||
Deferred tax assets | 907 | ||
Canada | |||
Deferred tax assets and liabilities | |||
Deferred tax assets | 843 | ||
France | |||
Deferred tax assets and liabilities | |||
Deferred tax assets | 487 | ||
Not later than one year | |||
Deferred tax assets and liabilities | |||
Deferred tax assets | 4 | 27 | 69 |
Year 2 | |||
Deferred tax assets and liabilities | |||
Deferred tax assets | 2 | 1 | 26 |
Year 3 | |||
Deferred tax assets and liabilities | |||
Deferred tax assets | 4 | 5 | 7 |
Year 4 | |||
Deferred tax assets and liabilities | |||
Deferred tax assets | 8 | 25 | 2 |
Year 4 | Canada | |||
Deferred tax assets and liabilities | |||
Deferred tax assets | 32 | ||
Year 5 and after | |||
Deferred tax assets and liabilities | |||
Deferred tax assets | 1,220 | 1,652 | 1,643 |
Year 5 and after | United States | |||
Deferred tax assets and liabilities | |||
Deferred tax assets | 326 | ||
Year 5 and after | Canada | |||
Deferred tax assets and liabilities | |||
Deferred tax assets | 812 | ||
Unlimited | |||
Deferred tax assets and liabilities | |||
Deferred tax assets | 2,362 | $ 3,419 | $ 3,359 |
Unlimited | Australia | |||
Deferred tax assets and liabilities | |||
Deferred tax assets | 820 | ||
Unlimited | United States | |||
Deferred tax assets and liabilities | |||
Deferred tax assets | 581 | ||
Unlimited | France | |||
Deferred tax assets and liabilities | |||
Deferred tax assets | $ 487 |
Provisions and other non-curr_3
Provisions and other non-current liabilities - Components (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Provisions and other non-current liabilities | ||||
Other non-current liabilities | $ 3,379 | $ 1,430 | $ 1,409 | |
TOTAL | 21,402 | 20,269 | 20,925 | $ 20,613 |
Litigations and accrued penalty claims | ||||
Provisions and other non-current liabilities | ||||
Provisions | 529 | 285 | 320 | |
Litigations and accrued penalty claims | Exploration & Production | ||||
Provisions and other non-current liabilities | ||||
Provisions | 257 | 192 | 208 | |
Litigations and accrued penalty claims | Refining & Chemicals | ||||
Provisions and other non-current liabilities | ||||
Provisions | 159 | |||
Provisions for environmental contingencies | ||||
Provisions and other non-current liabilities | ||||
Provisions | 751 | 812 | 960 | |
Asset retirement obligations | ||||
Provisions and other non-current liabilities | ||||
Provisions | 13,110 | 14,976 | 15,368 | $ 14,492 |
Other non-current provisions | ||||
Provisions and other non-current liabilities | ||||
Provisions | 3,633 | 2,766 | 2,868 | |
Restructuring activities | ||||
Provisions and other non-current liabilities | ||||
Provisions | 282 | 506 | 293 | |
Financial risks related to non-consolidated and equity accounted for affiliates | ||||
Provisions and other non-current liabilities | ||||
Provisions | $ 1,582 | 265 | 134 | |
Contingency reserve on solar panels warranties (Sunpower) | ||||
Provisions and other non-current liabilities | ||||
Provisions | $ 83 | $ 82 |
Provisions and other non-curr_4
Provisions and other non-current liabilities - Changes (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Changes in provisions and other non-current liabilities | |||
Balance as of the beginning of the period | $ 20,269 | $ 20,925 | $ 20,613 |
Allowances | 2,724 | 1,446 | 1,756 |
Reversals | (1,397) | (1,560) | (1,378) |
Currency translation adjustment | (834) | (404) | 452 |
Other | 640 | (138) | (518) |
Balance as of the end of the period | 21,402 | 20,269 | 20,925 |
Provision for financial risk | |||
Changes in provisions and other non-current liabilities | |||
Allowances | 1,363 | ||
Reversals | (15) | ||
Asset retirement obligations | |||
Changes in provisions and other non-current liabilities | |||
Allowances | 430 | 449 | 607 |
Reversals | (418) | (527) | (519) |
Provisions for environmental contingencies | |||
Changes in provisions and other non-current liabilities | |||
Allowances | 97 | 43 | 217 |
Reversals | (133) | (178) | (93) |
Restructuring activities | |||
Changes in provisions and other non-current liabilities | |||
Allowances | 31 | 415 | 271 |
Reversals | $ (230) | $ (178) | $ (135) |
Provisions and other non-curr_5
Provisions and other non-current liabilities - Asset retirement obligation (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Asset Retirement Obligation | |||
Discount rate for valuation of asset retirement obligation (as a percent) | 4% | 3% | 3% |
Inflation rate for valuation of asset retirement obligation (as a percent) | 2% | 1.50% | 1.50% |
Asset retirement obligations | |||
Asset Retirement Obligation | |||
Potential change in discount rate (as a percent) | 0.50% | ||
Increase in asset retirement obligation for decrease in discount rate | $ 955 | ||
Impact on following year's net income for decrease in discount rate | (76) | ||
Changes in the asset retirement obligation | |||
Balance as of the beginning of the period | 14,976 | $ 15,368 | $ 14,492 |
Accretion | 430 | 449 | 607 |
Revision in estimates | (1,172) | (109) | 526 |
New obligations | 198 | 228 | 87 |
Spending on existing obligations | (418) | (527) | (519) |
Currency translation adjustment | (663) | (194) | 284 |
Other | (241) | (239) | (109) |
Balance as of the end of the period | $ 13,110 | $ 14,976 | $ 15,368 |
Provisions and other non-curr_6
Provisions and other non-current liabilities - Other risks and contingent liabilities (Details) | 1 Months Ended | 12 Months Ended | ||
Mar. 15, 2017 company | Apr. 28, 2016 employee | Sep. 30, 2020 company | Dec. 31, 2017 subsidiary company | |
FERC | ||||
Disclosure of contingent liabilities | ||||
Number of former employees issued order to show cause | employee | 2 | |||
Number of companies involved in class action lawsuit | 3 | |||
Disputing relating to climate | ||||
Disclosure of contingent liabilities | ||||
Number of subsidiaries assigned for liability in climate change | subsidiary | 2 | |||
Number of other companies and professional associations contesting court's competence | 34 | |||
Number of other oil companies against which indemnity claim was launched | 30 | |||
Contingent liabilities - legal proceedings | Disputing relating to climate | ||||
Disclosure of contingent liabilities | ||||
Number of subsidiaries assigned for liability in climate change | subsidiary | 2 |
Off balance sheet commitments_3
Off balance sheet commitments and lease contracts - Off balance sheet commitments and contingencies (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Off balance sheet commitments and lease contracts | |||
Non-current debt obligations net of hedging instruments | $ 35,684 | $ 40,311 | $ 48,705 |
Current portion of non-current debt obligations net of hedging instruments | 5,328 | 5,073 | 4,674 |
Lease obligations | 9,714 | 9,034 | 8,943 |
Asset retirement obligations | 13,110 | 14,976 | 15,368 |
Contractual obligations recorded in the balance sheet | 63,836 | 69,394 | 77,690 |
Lease obligations for low value assets, short term contracts or not yet commenced | 1,830 | 1,679 | 1,745 |
Purchase obligations | 139,050 | 136,032 | 143,177 |
Contractual obligations not recorded in the balance sheet | 140,880 | 137,711 | 144,922 |
TOTAL OF CONTRACTUAL OBLIGATIONS | 204,716 | 207,105 | 222,612 |
OTHER COMMITMENTS GIVEN | 71,819 | 70,675 | 62,449 |
Assets received as collateral (security interests) | 45 | 62 | 77 |
Sales obligations | 94,977 | 92,555 | 80,521 |
Other commitments received | 25,650 | 22,326 | 20,401 |
TOTAL OF COMMITMENTS RECEIVED | 120,672 | 114,943 | 100,999 |
Commitments given relating to joint ventures | 32,054 | 33,373 | 34,920 |
Commitments given relating to associates | 52,270 | 34,491 | 51,795 |
Non-current lease obligations | 8,277 | 7,644 | 7,736 |
Current portion of lease obligations | 1,437 | 1,390 | 1,207 |
Not later than one year | |||
Off balance sheet commitments and lease contracts | |||
Current portion of non-current debt obligations net of hedging instruments | 5,328 | 5,073 | 4,674 |
Lease obligations | 1,437 | 1,390 | 1,207 |
Asset retirement obligations | 521 | 610 | 463 |
Contractual obligations recorded in the balance sheet | 7,286 | 7,073 | 6,344 |
Lease obligations for low value assets, short term contracts or not yet commenced | 783 | 689 | 704 |
Purchase obligations | 11,286 | 13,333 | 11,719 |
Contractual obligations not recorded in the balance sheet | 12,069 | 14,022 | 12,423 |
TOTAL OF CONTRACTUAL OBLIGATIONS | 19,355 | 21,095 | 18,767 |
OTHER COMMITMENTS GIVEN | 15,619 | 11,969 | 11,306 |
Assets received as collateral (security interests) | 14 | 37 | 28 |
Sales obligations | 6,267 | 7,565 | 7,001 |
Other commitments received | 19,261 | 17,285 | 15,270 |
TOTAL OF COMMITMENTS RECEIVED | 25,542 | 24,887 | 22,299 |
Commitments given relating to joint ventures | 2,006 | 253 | 644 |
Commitments given relating to associates | 839 | 727 | 999 |
Between 1 and 5 years | |||
Off balance sheet commitments and lease contracts | |||
Non-current debt obligations net of hedging instruments | 14,229 | 16,811 | 22,745 |
Lease obligations | 3,872 | 3,321 | 3,178 |
Asset retirement obligations | 1,497 | 1,751 | 1,840 |
Contractual obligations recorded in the balance sheet | 19,598 | 21,883 | 27,763 |
Lease obligations for low value assets, short term contracts or not yet commenced | 610 | 543 | 626 |
Purchase obligations | 40,516 | 36,174 | 39,126 |
Contractual obligations not recorded in the balance sheet | 41,126 | 36,717 | 39,752 |
TOTAL OF CONTRACTUAL OBLIGATIONS | 60,724 | 58,600 | 67,515 |
OTHER COMMITMENTS GIVEN | 9,215 | 9,877 | 8,766 |
Assets received as collateral (security interests) | 10 | 16 | 24 |
Sales obligations | 36,341 | 33,271 | 29,362 |
Other commitments received | 2,817 | 1,755 | 1,474 |
TOTAL OF COMMITMENTS RECEIVED | 39,168 | 35,042 | 30,860 |
Commitments given relating to joint ventures | 5,666 | 7,353 | 7,288 |
Commitments given relating to associates | 11,638 | 9,110 | 8,664 |
More than 5 years | |||
Off balance sheet commitments and lease contracts | |||
Non-current debt obligations net of hedging instruments | 21,455 | 23,500 | 25,960 |
Lease obligations | 4,405 | 4,323 | 4,558 |
Asset retirement obligations | 11,092 | 12,615 | 13,065 |
Contractual obligations recorded in the balance sheet | 36,952 | 40,438 | 43,583 |
Lease obligations for low value assets, short term contracts or not yet commenced | 437 | 447 | 415 |
Purchase obligations | 87,248 | 86,525 | 92,332 |
Contractual obligations not recorded in the balance sheet | 87,685 | 86,972 | 92,747 |
TOTAL OF CONTRACTUAL OBLIGATIONS | 124,637 | 127,410 | 136,330 |
OTHER COMMITMENTS GIVEN | 46,985 | 48,829 | 42,377 |
Assets received as collateral (security interests) | 21 | 9 | 25 |
Sales obligations | 52,369 | 51,719 | 44,158 |
Other commitments received | 3,572 | 3,286 | 3,657 |
TOTAL OF COMMITMENTS RECEIVED | 55,962 | 55,014 | 47,840 |
Commitments given relating to joint ventures | 24,382 | 25,767 | 26,988 |
Commitments given relating to associates | 39,793 | 24,654 | 42,132 |
Guarantees given to customs authorities | |||
Off balance sheet commitments and lease contracts | |||
OTHER COMMITMENTS GIVEN | 2,003 | 2,236 | 2,312 |
Guarantees given to customs authorities | Not later than one year | |||
Off balance sheet commitments and lease contracts | |||
OTHER COMMITMENTS GIVEN | 1,904 | 2,122 | 2,189 |
Guarantees given to customs authorities | Between 1 and 5 years | |||
Off balance sheet commitments and lease contracts | |||
OTHER COMMITMENTS GIVEN | 53 | 50 | 60 |
Guarantees given to customs authorities | More than 5 years | |||
Off balance sheet commitments and lease contracts | |||
OTHER COMMITMENTS GIVEN | 46 | 64 | 63 |
Guarantees given on borrowings | |||
Off balance sheet commitments and lease contracts | |||
OTHER COMMITMENTS GIVEN | 20,218 | 20,428 | 14,164 |
Guarantees given on borrowings | Arctic LNG 2 LLC | |||
Off balance sheet commitments and lease contracts | |||
OTHER COMMITMENTS GIVEN | 1,013 | 1,076 | |
Guarantees given on borrowings | Ichthys LNG PTY Limited | |||
Off balance sheet commitments and lease contracts | |||
OTHER COMMITMENTS GIVEN | 4,659 | 4,860 | |
Guarantees given on borrowings | Yamal LNG | |||
Off balance sheet commitments and lease contracts | |||
OTHER COMMITMENTS GIVEN | 3,483 | 3,469 | |
Guarantees given on borrowings | Bayport Polymers LLC | |||
Off balance sheet commitments and lease contracts | |||
OTHER COMMITMENTS GIVEN | 1,820 | 1,820 | |
Guarantees given on borrowings | Seagreen project | |||
Off balance sheet commitments and lease contracts | |||
OTHER COMMITMENTS GIVEN | 1,204 | 481 | |
Guarantees given on borrowings | TotalEnergies Refining & Chemicals Saudi Arabia S.A.S. | |||
Off balance sheet commitments and lease contracts | |||
OTHER COMMITMENTS GIVEN | 1,025 | 1,120 | |
Guarantees given on borrowings | Mozambique LNG project | |||
Off balance sheet commitments and lease contracts | |||
OTHER COMMITMENTS GIVEN | 4,600 | 4,600 | |
Guarantees given on borrowings | Not later than one year | |||
Off balance sheet commitments and lease contracts | |||
OTHER COMMITMENTS GIVEN | 2,519 | 595 | 746 |
Guarantees given on borrowings | Between 1 and 5 years | |||
Off balance sheet commitments and lease contracts | |||
OTHER COMMITMENTS GIVEN | 5,814 | 3,734 | 3,660 |
Guarantees given on borrowings | More than 5 years | |||
Off balance sheet commitments and lease contracts | |||
OTHER COMMITMENTS GIVEN | 11,885 | 16,099 | 9,758 |
Guarantees related to sales of businesses | |||
Off balance sheet commitments and lease contracts | |||
OTHER COMMITMENTS GIVEN | 310 | 316 | 333 |
Guarantees related to sales of businesses | Not later than one year | |||
Off balance sheet commitments and lease contracts | |||
OTHER COMMITMENTS GIVEN | 157 | 163 | 179 |
Guarantees related to sales of businesses | More than 5 years | |||
Off balance sheet commitments and lease contracts | |||
OTHER COMMITMENTS GIVEN | 153 | 153 | 154 |
Guarantees of current liabilities | |||
Off balance sheet commitments and lease contracts | |||
OTHER COMMITMENTS GIVEN | 62 | 70 | 147 |
Guarantees of current liabilities | Not later than one year | |||
Off balance sheet commitments and lease contracts | |||
OTHER COMMITMENTS GIVEN | 61 | 69 | 68 |
Guarantees of current liabilities | Between 1 and 5 years | |||
Off balance sheet commitments and lease contracts | |||
OTHER COMMITMENTS GIVEN | 1 | 1 | 56 |
Guarantees of current liabilities | More than 5 years | |||
Off balance sheet commitments and lease contracts | |||
OTHER COMMITMENTS GIVEN | 23 | ||
Guarantees to customers / suppliers | |||
Off balance sheet commitments and lease contracts | |||
OTHER COMMITMENTS GIVEN | 23,757 | 23,494 | 19,182 |
Guarantees to customers / suppliers | Not later than one year | |||
Off balance sheet commitments and lease contracts | |||
OTHER COMMITMENTS GIVEN | 3,539 | 3,093 | 2,603 |
Guarantees to customers / suppliers | Between 1 and 5 years | |||
Off balance sheet commitments and lease contracts | |||
OTHER COMMITMENTS GIVEN | 2,275 | 4,376 | 1,853 |
Guarantees to customers / suppliers | More than 5 years | |||
Off balance sheet commitments and lease contracts | |||
OTHER COMMITMENTS GIVEN | 17,943 | 16,025 | 14,726 |
Letters of credit | |||
Off balance sheet commitments and lease contracts | |||
OTHER COMMITMENTS GIVEN | 2,430 | 2,993 | 2,432 |
Letters of credit | Not later than one year | |||
Off balance sheet commitments and lease contracts | |||
OTHER COMMITMENTS GIVEN | 2,241 | 2,869 | 2,297 |
Letters of credit | Between 1 and 5 years | |||
Off balance sheet commitments and lease contracts | |||
OTHER COMMITMENTS GIVEN | 172 | 122 | 135 |
Letters of credit | More than 5 years | |||
Off balance sheet commitments and lease contracts | |||
OTHER COMMITMENTS GIVEN | 17 | 2 | |
Other operating commitments | |||
Off balance sheet commitments and lease contracts | |||
OTHER COMMITMENTS GIVEN | 23,039 | 21,138 | 23,879 |
Other operating commitments | Not later than one year | |||
Off balance sheet commitments and lease contracts | |||
OTHER COMMITMENTS GIVEN | 5,198 | 3,058 | 3,224 |
Other operating commitments | Between 1 and 5 years | |||
Off balance sheet commitments and lease contracts | |||
OTHER COMMITMENTS GIVEN | 900 | 1,594 | 3,002 |
Other operating commitments | More than 5 years | |||
Off balance sheet commitments and lease contracts | |||
OTHER COMMITMENTS GIVEN | $ 16,941 | $ 16,486 | $ 17,653 |
Off balance sheet commitments_4
Off balance sheet commitments and lease contracts - Leases (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Lease contracts | |||
Minimum lease payments for exempted lease contracts | $ 1,830 | $ 1,679 | $ 1,745 |
Minimum lease payments for leases recorded in balance sheet | 13,276 | 12,516 | 12,453 |
Less financial expenses | (3,562) | (3,482) | (3,510) |
Total lease liabilities | 9,714 | 9,034 | 8,943 |
Less current portion of lease contracts | (1,437) | (1,390) | (1,207) |
NON-CURRENT LEASE LIABILITIES | 8,277 | 7,644 | 7,736 |
Rental expense | |||
Rental expense incurred under short term leases or low value assets leases | 701 | 487 | 600 |
Rental expense incurred under variable lease payments | 151 | 242 | 162 |
Not later than one year | |||
Lease contracts | |||
Minimum lease payments for exempted lease contracts | 783 | 689 | 704 |
Minimum lease payments for leases recorded in balance sheet | 2,189 | 1,835 | 1,659 |
Total lease liabilities | 1,437 | 1,390 | 1,207 |
Year 2 | |||
Lease contracts | |||
Minimum lease payments for exempted lease contracts | 190 | 194 | 252 |
Minimum lease payments for leases recorded in balance sheet | 1,646 | 1,347 | 1,366 |
Year 3 | |||
Lease contracts | |||
Minimum lease payments for exempted lease contracts | 154 | 136 | 159 |
Minimum lease payments for leases recorded in balance sheet | 1,255 | 1,199 | 1,117 |
Year 4 | |||
Lease contracts | |||
Minimum lease payments for exempted lease contracts | 137 | 111 | 118 |
Minimum lease payments for leases recorded in balance sheet | 1,140 | 1,097 | 1,022 |
Year 5 | |||
Lease contracts | |||
Minimum lease payments for exempted lease contracts | 129 | 102 | 97 |
Minimum lease payments for leases recorded in balance sheet | 993 | 1,021 | 964 |
More than 5 years | |||
Lease contracts | |||
Minimum lease payments for exempted lease contracts | 437 | 447 | 415 |
Minimum lease payments for leases recorded in balance sheet | 6,053 | 6,017 | 6,325 |
Total lease liabilities | $ 4,405 | $ 4,323 | $ 4,558 |
Financial assets and liabilit_3
Financial assets and liabilities analysis per instrument class and strategy (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | $ 104,041 | $ 96,173 | $ 72,671 |
Total non-financial assets | 199,823 | 197,285 | 193,461 |
TOTAL ASSETS | 303,864 | 293,458 | 266,132 |
Fair value, financial assets | 104,041 | 96,173 | 72,671 |
Total financial liabilities | (137,786) | (129,050) | (115,381) |
Total non-financial liabilities | (166,078) | (164,408) | (150,751) |
TOTAL LIABILITIES | (303,864) | (293,458) | (266,132) |
Fair value, financial liabilities | (136,009) | (132,686) | (121,410) |
Non-current financial debt | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (45,264) | (49,512) | (60,203) |
Fair value, financial liabilities | (43,471) | (53,144) | (66,210) |
Accounts payable | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (41,346) | (36,837) | (23,574) |
Fair value, financial liabilities | (41,346) | (36,837) | (23,574) |
Impact of offsetting on accounts payable | 10,156 | 4,584 | 1,844 |
Other operating liabilities | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (35,186) | (27,294) | (14,302) |
Fair value, financial liabilities | (35,186) | (27,294) | (14,302) |
Current borrowings | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (15,502) | (15,035) | (17,099) |
Fair value, financial liabilities | (15,518) | (15,039) | (17,121) |
Other current financial liabilities | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (488) | (372) | (203) |
Fair value, financial liabilities | (488) | (372) | (203) |
Loans to equity affiliates | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 3,733 | 4,532 | 5,129 |
Fair value, financial assets | 3,733 | 4,532 | 5,129 |
Other investments | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 1,051 | 1,625 | 2,007 |
Fair value, financial assets | 1,051 | 1,625 | 2,007 |
Non-current financial assets | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 2,731 | 2,404 | 4,781 |
Fair value, financial assets | 2,731 | 2,404 | 4,781 |
Other non-current assets | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 2,087 | 2,419 | 2,745 |
Fair value, financial assets | 2,087 | 2,419 | 2,745 |
Accounts receivable | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 24,378 | 21,983 | 14,068 |
Fair value, financial assets | 24,378 | 21,983 | 14,068 |
Impact of offsetting on accounts receivable | (10,156) | (4,584) | (1,844) |
Other operating receivables | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 28,289 | 29,553 | 8,043 |
Fair value, financial assets | 28,289 | 29,553 | 8,043 |
Current financial assets | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 8,746 | 12,315 | 4,630 |
Fair value, financial assets | 8,746 | 12,315 | 4,630 |
Cash and cash equivalents | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 33,026 | 21,342 | 31,268 |
Fair value, financial assets | 33,026 | 21,342 | 31,268 |
Amortised cost | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (114,495) | (110,973) | (109,778) |
Amortised cost | Non-current financial debt | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (41,235) | (47,973) | (58,470) |
Amortised cost | Accounts payable | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (41,346) | (36,837) | (23,574) |
Amortised cost | Other operating liabilities | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (16,412) | (11,128) | (10,635) |
Amortised cost | Current borrowings | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (15,502) | (15,035) | (17,099) |
Fair value through P&L - liabilities | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (18,503) | (15,363) | (3,883) |
Fair value through P&L - liabilities | Non-current financial debt | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (283) | (41) | (118) |
Fair value through P&L - liabilities | Other operating liabilities | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (17,994) | (15,266) | (3,666) |
Fair value through P&L - liabilities | Other current financial liabilities | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (226) | (56) | (99) |
Other comprehensive income - liabilities | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (780) | (900) | |
Other comprehensive income - liabilities | Other operating liabilities | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (780) | (900) | |
Fair value of bonds hedging instruments | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (4,008) | (1,814) | (1,720) |
Fair value of bonds hedging instruments | Non-current financial debt | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (3,746) | (1,498) | (1,615) |
Fair value of bonds hedging instruments | Other operating liabilities | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (1) | ||
Fair value of bonds hedging instruments | Other current financial liabilities | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (262) | (316) | (104) |
Amortized cost | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 80,257 | 70,265 | 65,391 |
Amortized cost | Loans to equity affiliates | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 3,733 | 4,532 | 5,129 |
Amortized cost | Non-current financial assets | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 1,428 | 847 | 1,019 |
Amortized cost | Other non-current assets | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 2,087 | 2,419 | 2,745 |
Amortized cost | Accounts receivable | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 24,378 | 21,983 | 14,068 |
Amortized cost | Other operating receivables | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 8,069 | 7,141 | 6,615 |
Amortized cost | Current financial assets | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 7,536 | 12,001 | 4,547 |
Amortized cost | Cash and cash equivalents | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 33,026 | 21,342 | 31,268 |
Fair value through P&L - assets | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 22,022 | 23,161 | 3,258 |
Fair value through P&L - assets | Other investments | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 932 | 1,052 | 1,224 |
Fair value through P&L - assets | Non-current financial assets | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 490 | 770 | 541 |
Fair value through P&L - assets | Other operating receivables | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 19,529 | 21,067 | 1,428 |
Fair value through P&L - assets | Current financial assets | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 1,071 | 272 | 65 |
Other Comprehensive Income | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 947 | 1,918 | 783 |
Other Comprehensive Income | Other investments | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 119 | 573 | 783 |
Other Comprehensive Income | Other operating receivables | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 691 | 1,345 | |
Other Comprehensive Income | Current financial assets | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 137 | ||
Fair value of bonds hedging instruments | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 815 | 829 | 3,239 |
Fair value of bonds hedging instruments | Non-current financial assets | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 813 | 787 | 3,221 |
Fair value of bonds hedging instruments | Current financial assets | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | $ 2 | $ 42 | $ 18 |
Financial structure and finan_3
Financial structure and financial costs - Non-current financial debt and derivative financial instruments (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Financial structure, financial costs and financial instruments | |||
Non-current financial debt | $ 45,264 | $ 49,512 | $ 60,203 |
Non-current financial assets | (2,731) | (2,404) | (4,781) |
NON-CURRENT NET FINANCIAL DEBT AND RELATED FINANCIAL INSTRUMENTS | 42,533 | 47,108 | 55,422 |
VARIABLE RATE BONDS OR BONDS AFTER FAIR VALUE HEDGE | |||
Financial structure, financial costs and financial instruments | |||
NON-CURRENT NET FINANCIAL DEBT AND RELATED FINANCIAL INSTRUMENTS | 8,958 | 12,820 | 16,553 |
FIXED RATE BONDS OR BONDS AFTER CASH FLOW HEDGE | |||
Financial structure, financial costs and financial instruments | |||
NON-CURRENT NET FINANCIAL DEBT AND RELATED FINANCIAL INSTRUMENTS | 26,159 | 27,147 | 28,080 |
Other floating rate debt | |||
Financial structure, financial costs and financial instruments | |||
NON-CURRENT NET FINANCIAL DEBT AND RELATED FINANCIAL INSTRUMENTS | 240 | 649 | 3,984 |
Other fixed rate debt | |||
Financial structure, financial costs and financial instruments | |||
NON-CURRENT NET FINANCIAL DEBT AND RELATED FINANCIAL INSTRUMENTS | 535 | 424 | 511 |
Lease obligations | |||
Financial structure, financial costs and financial instruments | |||
NON-CURRENT NET FINANCIAL DEBT AND RELATED FINANCIAL INSTRUMENTS | 8,277 | 7,644 | 7,736 |
Non-current financial assets excluding derivative financial instruments | |||
Financial structure, financial costs and financial instruments | |||
NON-CURRENT NET FINANCIAL DEBT AND RELATED FINANCIAL INSTRUMENTS | (1,428) | (1,522) | (1,451) |
Other financial instruments/held for trading | |||
Financial structure, financial costs and financial instruments | |||
NON-CURRENT NET FINANCIAL DEBT AND RELATED FINANCIAL INSTRUMENTS | (208) | (54) | 9 |
Hedging instruments of non-current financial debt | |||
Financial structure, financial costs and financial instruments | |||
Non-current financial debt | 3,746 | 1,498 | 1,615 |
Non-current financial assets | (813) | (787) | (3,221) |
Secured | |||
Financial structure, financial costs and financial instruments | |||
Non-current financial debt | 8,329 | 7,720 | 7,849 |
Non-current financial assets | (1,428) | (847) | (1,019) |
NON-CURRENT NET FINANCIAL DEBT AND RELATED FINANCIAL INSTRUMENTS | 6,901 | 6,873 | 6,830 |
Secured | Other floating rate debt | |||
Financial structure, financial costs and financial instruments | |||
NON-CURRENT NET FINANCIAL DEBT AND RELATED FINANCIAL INSTRUMENTS | 13 | 15 | 40 |
Secured | Other fixed rate debt | |||
Financial structure, financial costs and financial instruments | |||
NON-CURRENT NET FINANCIAL DEBT AND RELATED FINANCIAL INSTRUMENTS | 39 | 61 | 73 |
Secured | Lease obligations | |||
Financial structure, financial costs and financial instruments | |||
NON-CURRENT NET FINANCIAL DEBT AND RELATED FINANCIAL INSTRUMENTS | 8,277 | 7,644 | 7,736 |
Secured | Non-current financial assets excluding derivative financial instruments | |||
Financial structure, financial costs and financial instruments | |||
NON-CURRENT NET FINANCIAL DEBT AND RELATED FINANCIAL INSTRUMENTS | (1,428) | (847) | (1,019) |
Unsecured | |||
Financial structure, financial costs and financial instruments | |||
Non-current financial debt | 36,935 | 41,792 | 52,354 |
Non-current financial assets | (1,303) | (1,557) | (3,762) |
NON-CURRENT NET FINANCIAL DEBT AND RELATED FINANCIAL INSTRUMENTS | 35,632 | 40,235 | 48,592 |
Unsecured | VARIABLE RATE BONDS OR BONDS AFTER FAIR VALUE HEDGE | |||
Financial structure, financial costs and financial instruments | |||
NON-CURRENT NET FINANCIAL DEBT AND RELATED FINANCIAL INSTRUMENTS | 8,958 | 12,820 | 16,553 |
Unsecured | FIXED RATE BONDS OR BONDS AFTER CASH FLOW HEDGE | |||
Financial structure, financial costs and financial instruments | |||
NON-CURRENT NET FINANCIAL DEBT AND RELATED FINANCIAL INSTRUMENTS | 26,159 | 27,147 | 28,080 |
Unsecured | Other floating rate debt | |||
Financial structure, financial costs and financial instruments | |||
NON-CURRENT NET FINANCIAL DEBT AND RELATED FINANCIAL INSTRUMENTS | 227 | 634 | 3,944 |
Unsecured | Other fixed rate debt | |||
Financial structure, financial costs and financial instruments | |||
NON-CURRENT NET FINANCIAL DEBT AND RELATED FINANCIAL INSTRUMENTS | 496 | 363 | 438 |
Unsecured | Non-current financial assets excluding derivative financial instruments | |||
Financial structure, financial costs and financial instruments | |||
NON-CURRENT NET FINANCIAL DEBT AND RELATED FINANCIAL INSTRUMENTS | (675) | (432) | |
Unsecured | Other financial instruments/held for trading | |||
Financial structure, financial costs and financial instruments | |||
NON-CURRENT NET FINANCIAL DEBT AND RELATED FINANCIAL INSTRUMENTS | (208) | (54) | 9 |
Unsecured | Hedging instruments of non-current financial debt | |||
Financial structure, financial costs and financial instruments | |||
Non-current financial debt | 3,746 | 1,498 | 1,615 |
Non-current financial assets | $ (813) | $ (787) | $ (3,221) |
Financial structure and finan_4
Financial structure and financial costs - Fair value of bonds (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Non-current financial debt | |||
Current portion (less than one year) | $ (7,244) | $ (3,092) | $ (12,672) |
Non-current financial debt and related financial instruments | 42,533 | 47,108 | 55,422 |
USLIBOR | |||
Non-current financial debt | |||
Fair value after hedging | 12,148 | ||
VARIABLE RATE BONDS OR BONDS AFTER FAIR VALUE HEDGE | |||
Non-current financial debt | |||
Non-current financial debt and related financial instruments | 8,958 | 12,820 | 16,553 |
FIXED RATE BONDS OR BONDS AFTER CASH FLOW HEDGE | |||
Non-current financial debt | |||
Non-current financial debt and related financial instruments | 26,159 | 27,147 | 28,080 |
Principal financing entities | VARIABLE RATE BONDS OR BONDS AFTER FAIR VALUE HEDGE | |||
Non-current financial debt | |||
Current portion (less than one year) | (3,890) | (2,540) | (2,699) |
Non-current financial debt and related financial instruments | 8,258 | 12,122 | 14,658 |
Principal financing entities | Variable rate bonds or bonds after fair value hedge, USD | |||
Non-current financial debt | |||
Fair value after hedging | $ 5,042 | 5,001 | 6,253 |
Principal financing entities | Variable rate bonds or bonds after fair value hedge, USD | Minimum | |||
Non-current financial debt | |||
Initial current rate before hedging instruments (as a percent) | 2.434% | ||
Principal financing entities | Variable rate bonds or bonds after fair value hedge, USD | Maximum | |||
Non-current financial debt | |||
Initial current rate before hedging instruments (as a percent) | 3.883% | ||
Principal financing entities | Variable rate bonds or bonds after fair value hedge, CHF | |||
Non-current financial debt | |||
Fair value after hedging | $ 407 | 409 | 410 |
Principal financing entities | Variable rate bonds or bonds after fair value hedge, CHF | Minimum | |||
Non-current financial debt | |||
Initial current rate before hedging instruments (as a percent) | 0.176% | ||
Principal financing entities | Variable rate bonds or bonds after fair value hedge, CHF | Maximum | |||
Non-current financial debt | |||
Initial current rate before hedging instruments (as a percent) | 0.298% | ||
Principal financing entities | Variable rate bonds or bonds after fair value hedge, AUD | |||
Non-current financial debt | |||
Fair value after hedging | $ 71 | 71 | 377 |
Principal financing entities | Variable rate bonds or bonds after fair value hedge, AUD | Minimum | |||
Non-current financial debt | |||
Initial current rate before hedging instruments (as a percent) | 4% | ||
Principal financing entities | Variable rate bonds or bonds after fair value hedge, Euro | |||
Non-current financial debt | |||
Fair value after hedging | $ 5,574 | 7,528 | 8,666 |
Principal financing entities | Variable rate bonds or bonds after fair value hedge, Euro | Minimum | |||
Non-current financial debt | |||
Initial current rate before hedging instruments (as a percent) | 0.25% | ||
Principal financing entities | Variable rate bonds or bonds after fair value hedge, Euro | Maximum | |||
Non-current financial debt | |||
Initial current rate before hedging instruments (as a percent) | 3.125% | ||
Principal financing entities | Variable rate bonds or bonds after fair value hedge, GBP | |||
Non-current financial debt | |||
Fair value after hedging | $ 925 | 1,524 | 1,522 |
Principal financing entities | Variable rate bonds or bonds after fair value hedge, GBP | Minimum | |||
Non-current financial debt | |||
Initial current rate before hedging instruments (as a percent) | 1.405% | ||
Principal financing entities | Variable rate bonds or bonds after fair value hedge, GBP | Maximum | |||
Non-current financial debt | |||
Initial current rate before hedging instruments (as a percent) | 2.25% | ||
Principal financing entities | Variable rate bonds or bonds after fair value hedge, HKD | |||
Non-current financial debt | |||
Fair value after hedging | $ 129 | 129 | 129 |
Initial current rate before hedging instruments (as a percent) | 2.92% | ||
Principal financing entities | FIXED RATE BONDS OR BONDS AFTER CASH FLOW HEDGE | |||
Non-current financial debt | |||
Current portion (less than one year) | $ (500) | (1,000) | (1,500) |
Non-current financial debt and related financial instruments | 26,157 | 26,750 | 27,632 |
Principal financing entities | Bond after cash flow hedge or fixed rate bond, EUR | |||
Non-current financial debt | |||
Fair value after hedging | $ 15,628 | 15,487 | 15,259 |
Principal financing entities | Bond after cash flow hedge or fixed rate bond, EUR | Minimum | |||
Non-current financial debt | |||
Initial current rate before hedging instruments (as a percent) | 0.696% | ||
Principal financing entities | Bond after cash flow hedge or fixed rate bond, EUR | Maximum | |||
Non-current financial debt | |||
Initial current rate before hedging instruments (as a percent) | 5.125% | ||
Principal financing entities | Bond after cash flow hedge or fixed rate bond, USD | |||
Non-current financial debt | |||
Fair value after hedging | $ 8,783 | 9,941 | 11,524 |
Principal financing entities | Bond after cash flow hedge or fixed rate bond, USD | Minimum | |||
Non-current financial debt | |||
Initial current rate before hedging instruments (as a percent) | 2.829% | ||
Principal financing entities | Bond after cash flow hedge or fixed rate bond, USD | Maximum | |||
Non-current financial debt | |||
Initial current rate before hedging instruments (as a percent) | 3.461% | ||
Principal financing entities | Bond after cash flow hedge or fixed rate bond, HKD | |||
Non-current financial debt | |||
Fair value after hedging | $ 187 | 200 | 208 |
Initial current rate before hedging instruments (as a percent) | 3.088% | ||
Principal financing entities | Bond after cash flow hedge or fixed rate bond, CHF | |||
Non-current financial debt | |||
Fair value after hedging | $ 1,076 | 1,113 | 1,134 |
Principal financing entities | Bond after cash flow hedge or fixed rate bond, CHF | Minimum | |||
Non-current financial debt | |||
Initial current rate before hedging instruments (as a percent) | 0.51% | ||
Principal financing entities | Bond after cash flow hedge or fixed rate bond, CHF | Maximum | |||
Non-current financial debt | |||
Initial current rate before hedging instruments (as a percent) | 1.01% | ||
Principal financing entities | Bond after cash flow hedge or fixed rate bond, GBP | |||
Non-current financial debt | |||
Fair value after hedging | $ 985 | 1,004 | 998 |
Principal financing entities | Bond after cash flow hedge or fixed rate bond, GBP | Minimum | |||
Non-current financial debt | |||
Initial current rate before hedging instruments (as a percent) | 1.25% | ||
Principal financing entities | Bond after cash flow hedge or fixed rate bond, GBP | Maximum | |||
Non-current financial debt | |||
Initial current rate before hedging instruments (as a percent) | 1.66% | ||
Principal financing entities | Bond after cash flow hedge or fixed rate bond, AUD | |||
Non-current financial debt | |||
Fair value after hedging | $ (2) | 5 | 9 |
Initial current rate before hedging instruments (as a percent) | 4% | ||
TotalEnergies Capital | |||
Non-current financial debt | |||
Number of shares in otherwise wholly-owned subsidiary held by each director | 1 | ||
TotalEnergies Capital International | |||
Non-current financial debt | |||
Number of shares in otherwise wholly-owned subsidiary held by each director | 1 | ||
TotalEnergies SE | VARIABLE RATE BONDS OR BONDS AFTER FAIR VALUE HEDGE | |||
Non-current financial debt | |||
Fair value after hedging | 1,200 | 1,200 | |
Current portion (less than one year) | (1,200) | ||
Other consolidated subsidiaries | VARIABLE RATE BONDS OR BONDS AFTER FAIR VALUE HEDGE | |||
Non-current financial debt | |||
Non-current financial debt and related financial instruments | $ 700 | 698 | 695 |
Other consolidated subsidiaries | FIXED RATE BONDS OR BONDS AFTER CASH FLOW HEDGE | |||
Non-current financial debt | |||
Non-current financial debt and related financial instruments | $ 2 | $ 397 | $ 448 |
Financial structure and finan_5
Financial structure and financial costs - Loan repayment schedule (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Loan repayment schedule (excluding current portion) | |||
Non-current financial debt | $ 45,264 | $ 49,512 | $ 60,203 |
Non-current financial assets | (2,731) | (2,404) | (4,781) |
NON-CURRENT NET FINANCIAL DEBT AND RELATED FINANCIAL INSTRUMENTS | $ 42,533 | $ 47,108 | $ 55,422 |
Repayment (as a percent) | 100% | 100% | 100% |
Year 2 | |||
Loan repayment schedule (excluding current portion) | |||
Non-current financial debt | $ 7,251 | $ 6,143 | $ 9,932 |
Non-current financial assets | (899) | (111) | (142) |
NON-CURRENT NET FINANCIAL DEBT AND RELATED FINANCIAL INSTRUMENTS | $ 6,352 | $ 6,032 | $ 9,790 |
Repayment (as a percent) | 15% | 13% | 18% |
Year 3 | |||
Loan repayment schedule (excluding current portion) | |||
Non-current financial debt | $ 4,701 | $ 6,506 | $ 5,988 |
Non-current financial assets | (259) | (219) | (268) |
NON-CURRENT NET FINANCIAL DEBT AND RELATED FINANCIAL INSTRUMENTS | $ 4,442 | $ 6,287 | $ 5,720 |
Repayment (as a percent) | 10% | 13% | 10% |
Year 4 | |||
Loan repayment schedule (excluding current portion) | |||
Non-current financial debt | $ 3,465 | $ 4,471 | $ 6,340 |
Non-current financial assets | (194) | (89) | (395) |
NON-CURRENT NET FINANCIAL DEBT AND RELATED FINANCIAL INSTRUMENTS | $ 3,271 | $ 4,382 | $ 5,945 |
Repayment (as a percent) | 8% | 9% | 11% |
Year 5 | |||
Loan repayment schedule (excluding current portion) | |||
Non-current financial debt | $ 3,522 | $ 3,348 | $ 4,535 |
Non-current financial assets | (104) | (71) | (260) |
NON-CURRENT NET FINANCIAL DEBT AND RELATED FINANCIAL INSTRUMENTS | $ 3,418 | $ 3,277 | $ 4,275 |
Repayment (as a percent) | 8% | 7% | 8% |
More than 5 years | |||
Loan repayment schedule (excluding current portion) | |||
Non-current financial debt | $ 26,325 | $ 29,044 | $ 33,408 |
Non-current financial assets | (1,275) | (1,914) | (3,716) |
NON-CURRENT NET FINANCIAL DEBT AND RELATED FINANCIAL INSTRUMENTS | $ 25,050 | $ 27,130 | $ 29,692 |
Repayment (as a percent) | 59% | 58% | 53% |
Hedging instruments of non-current financial debt | |||
Loan repayment schedule (excluding current portion) | |||
Non-current financial debt | $ 3,746 | $ 1,498 | $ 1,615 |
Non-current financial assets | (813) | (787) | (3,221) |
Hedging instruments of non-current financial debt | Year 2 | |||
Loan repayment schedule (excluding current portion) | |||
Non-current financial debt | 399 | 115 | 142 |
Non-current financial assets | (56) | (51) | (58) |
Hedging instruments of non-current financial debt | Year 3 | |||
Loan repayment schedule (excluding current portion) | |||
Non-current financial debt | 552 | 190 | 59 |
Non-current financial assets | (168) | (103) | (218) |
Hedging instruments of non-current financial debt | Year 4 | |||
Loan repayment schedule (excluding current portion) | |||
Non-current financial debt | 467 | 194 | 115 |
Non-current financial assets | (107) | (51) | (277) |
Hedging instruments of non-current financial debt | Year 5 | |||
Loan repayment schedule (excluding current portion) | |||
Non-current financial debt | 217 | 238 | 150 |
Non-current financial assets | (17) | (34) | (212) |
Hedging instruments of non-current financial debt | More than 5 years | |||
Loan repayment schedule (excluding current portion) | |||
Non-current financial debt | 2,111 | 761 | 1,149 |
Non-current financial assets | $ (465) | $ (548) | $ (2,456) |
Financial structure and finan_6
Financial structure and financial costs - Analysis by currency and interest rate (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Financial structure, financial costs and financial instruments | |||
Non-current financial debt and related financial instruments | $ 42,533 | $ 47,108 | $ 55,422 |
Percentage of net noncurrent debt | 100% | 100% | 100% |
U.S. Dollar | |||
Financial structure, financial costs and financial instruments | |||
Non-current financial debt and related financial instruments | $ 38,896 | $ 44,387 | $ 48,609 |
Percentage of net noncurrent debt | 91% | 94% | 88% |
Euro | |||
Financial structure, financial costs and financial instruments | |||
Non-current financial debt and related financial instruments | $ 2,083 | $ 1,708 | $ 3,144 |
Percentage of net noncurrent debt | 5% | 4% | 6% |
Norwegian krone | |||
Financial structure, financial costs and financial instruments | |||
Non-current financial debt and related financial instruments | $ 47 | $ 67 | $ 72 |
Percentage of net noncurrent debt | 0% | 0% | 0% |
Other currencies | |||
Financial structure, financial costs and financial instruments | |||
Non-current financial debt and related financial instruments | $ 1,507 | $ 946 | $ 3,597 |
Percentage of net noncurrent debt | 4% | 2% | 6% |
Fixed rate | |||
Financial structure, financial costs and financial instruments | |||
Non-current financial debt and related financial instruments | $ 33,533 | $ 34,353 | $ 34,870 |
Percentage of net noncurrent debt | 79% | 73% | 63% |
Floating rate | |||
Financial structure, financial costs and financial instruments | |||
Non-current financial debt and related financial instruments | $ 9,000 | $ 12,755 | $ 20,552 |
Percentage of net noncurrent debt | 21% | 27% | 37% |
Financial structure and finan_7
Financial structure and financial costs - Current financial assets and liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Financial structure, financial costs and financial instruments | |||
Current financial debt | $ 8,997 | $ 8,846 | $ 11,305 |
Current lease obligations | 1,437 | 1,390 | 1,207 |
Current portion of non-current financial debt | 5,068 | 4,799 | 4,588 |
Current borrowings (note 14) | 15,502 | 15,035 | 17,099 |
Other current financial liabilities (note 14) | 488 | 372 | 203 |
Current financial assets (note 14) | (8,746) | (12,315) | (4,630) |
NET CURRENT BORROWINGS | 7,244 | 3,092 | 12,672 |
Current deposits beyond three months | |||
Financial structure, financial costs and financial instruments | |||
Current financial assets (note 14) | (8,127) | (11,868) | (4,436) |
Non-traded marketable securities | |||
Financial structure, financial costs and financial instruments | |||
Current financial assets (note 14) | (218) | (195) | |
Financial receivables on sub-lease | |||
Financial structure, financial costs and financial instruments | |||
Current financial assets (note 14) | (190) | (132) | (111) |
Current portion of hedging instruments of debt | |||
Financial structure, financial costs and financial instruments | |||
Other current financial liabilities (note 14) | 262 | 316 | 104 |
Current financial assets (note 14) | (2) | (42) | (18) |
Other financial instruments/held for trading | |||
Financial structure, financial costs and financial instruments | |||
Other current financial liabilities (note 14) | 226 | 56 | 99 |
Current financial assets (note 14) | $ (209) | $ (78) | $ (65) |
Financial structure and finan_8
Financial structure and financial costs - Variations of financial debt (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of detailed information about financial instruments [line items] | |||
Balance as of the beginning of the period | $ 62,259 | $ 72,843 | $ 62,200 |
Cash changes | (4,965) | (11,505) | 9,071 |
Non-cash changes, Change in scope, including IFRS 5 reclassifications | (1,022) | (347) | (462) |
Non-cash changes, Foreign currency | (282) | (416) | 25 |
Non-cash changes, Changes in fair value | (314) | 31 | 191 |
Non-cash changes, Other | 2,408 | 1,653 | 1,818 |
Balance as of the end of the period | 58,084 | 62,259 | 72,843 |
Non-current financial debt and related financial instruments | |||
Disclosure of detailed information about financial instruments [line items] | |||
Balance as of the beginning of the period | 47,108 | 55,422 | 46,861 |
Cash changes | 1,108 | (649) | 15,572 |
Non-cash changes, Change in scope, including IFRS 5 reclassifications | (672) | (57) | (453) |
Non-cash changes, Foreign currency | (173) | (119) | 133 |
Non-cash changes, Changes in fair value | (273) | 55 | 244 |
Non-cash changes, Reclassification Non-current/Current | (6,783) | (9,066) | (8,593) |
Non-cash changes, Other | 2,218 | 1,522 | 1,658 |
Balance as of the end of the period | 42,533 | 47,108 | 55,422 |
Non-current financial assets | |||
Disclosure of detailed information about financial instruments [line items] | |||
Balance as of the beginning of the period | (2,404) | (4,781) | (912) |
Cash changes | (290) | (228) | |
Non-cash changes, Change in scope, including IFRS 5 reclassifications | 24 | 1 | 3 |
Non-cash changes, Foreign currency | 52 | 64 | (59) |
Non-cash changes, Changes in fair value | (448) | 2,432 | (2,729) |
Non-cash changes, Reclassification Non-current/Current | 198 | 188 | 118 |
Non-cash changes, Other | (153) | (18) | (974) |
Balance as of the end of the period | (2,731) | (2,404) | (4,781) |
Non-current financial debt | |||
Disclosure of detailed information about financial instruments [line items] | |||
Balance as of the beginning of the period | 49,512 | 60,203 | 47,773 |
Cash changes | 1,108 | (359) | 15,800 |
Non-cash changes, Change in scope, including IFRS 5 reclassifications | (696) | (58) | (456) |
Non-cash changes, Foreign currency | (225) | (183) | 192 |
Non-cash changes, Changes in fair value | 175 | (2,377) | 2,973 |
Non-cash changes, Reclassification Non-current/Current | (6,981) | (9,254) | (8,711) |
Non-cash changes, Other | 2,371 | 1,540 | 2,632 |
Balance as of the end of the period | 45,264 | 49,512 | 60,203 |
Current financial debt and related financial instruments | |||
Disclosure of detailed information about financial instruments [line items] | |||
Balance as of the beginning of the period | 15,155 | 17,108 | 15,038 |
Cash changes | (6,073) | (10,856) | (6,501) |
Non-cash changes, Change in scope, including IFRS 5 reclassifications | (316) | 16 | 1 |
Non-cash changes, Foreign currency | (109) | (286) | (130) |
Non-cash changes, Changes in fair value | (41) | (24) | (53) |
Non-cash changes, Reclassification Non-current/Current | 6,783 | 9,066 | 8,593 |
Non-cash changes, Other | 190 | 131 | 160 |
Balance as of the end of the period | 15,589 | 15,155 | 17,108 |
Current financial assets | |||
Disclosure of detailed information about financial instruments [line items] | |||
Balance as of the beginning of the period | (252) | (194) | (268) |
Cash changes | 264 | 191 | 178 |
Non-cash changes, Foreign currency | 6 | 8 | (6) |
Non-cash changes, Changes in fair value | (97) | (45) | 46 |
Non-cash changes, Reclassification Non-current/Current | (198) | (188) | (118) |
Non-cash changes, Other | (124) | (24) | (26) |
Balance as of the end of the period | (401) | (252) | (194) |
Current borrowings | |||
Disclosure of detailed information about financial instruments [line items] | |||
Balance as of the beginning of the period | 15,035 | 17,099 | 14,819 |
Cash changes | (6,337) | (11,047) | (6,679) |
Non-cash changes, Change in scope, including IFRS 5 reclassifications | (316) | 15 | 6 |
Non-cash changes, Foreign currency | (106) | (283) | (132) |
Non-cash changes, Changes in fair value | (69) | (158) | 188 |
Non-cash changes, Reclassification Non-current/Current | 6,981 | 9,254 | 8,711 |
Non-cash changes, Other | 314 | 155 | 186 |
Balance as of the end of the period | 15,502 | 15,035 | 17,099 |
Other current financial liabilities | |||
Disclosure of detailed information about financial instruments [line items] | |||
Balance as of the beginning of the period | 372 | 203 | 487 |
Non-cash changes, Change in scope, including IFRS 5 reclassifications | 1 | (5) | |
Non-cash changes, Foreign currency | (9) | (11) | 8 |
Non-cash changes, Changes in fair value | 125 | 179 | (287) |
Balance as of the end of the period | 488 | 372 | 203 |
Financial liabilities and financial assets classified as held for sale | |||
Disclosure of detailed information about financial instruments [line items] | |||
Balance as of the beginning of the period | (4) | 313 | 301 |
Non-cash changes, Change in scope, including IFRS 5 reclassifications | (34) | (306) | (10) |
Non-cash changes, Foreign currency | (11) | 22 | |
Balance as of the end of the period | $ (38) | $ (4) | $ 313 |
Financial structure and finan_9
Financial structure and financial costs - Financing cash flows, Cash and cash equivalents (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Changes in non-current financial debt | ||||
Issuance of non-current debt | $ 1,148 | $ 808 | $ 16,075 | |
Repayment of non-current debt | (40) | (1,167) | (275) | |
NET AMOUNT | 1,108 | (359) | 15,800 | |
Cash and cash equivalents | ||||
Cash | 14,873 | 13,544 | 14,518 | |
Cash equivalents | 18,153 | 7,798 | 16,750 | |
TOTAL | 33,026 | $ 21,342 | $ 31,268 | $ 27,352 |
Restricted cash and cash equivalents | $ 2,352 |
Financial structure and fina_10
Financial structure and financial costs - Net-debt-to-equity ratio (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Net-debt-to-equity ratio | ||||
Current borrowings | $ 14,065 | $ 13,645 | $ 15,893 | |
Other current financial liabilities | 488 | 372 | 203 | |
Current financial assets | (8,556) | (12,183) | (4,519) | |
Net financial assets and liabilities held for sale or exchange | (38) | (4) | 313 | |
Non-current financial debt | 36,987 | 41,868 | 52,467 | |
Non-current financial assets | (1,303) | (1,557) | (3,762) | |
Cash and cash equivalents | (33,026) | (21,342) | (31,268) | $ (27,352) |
Net financial debt | 8,617 | 20,799 | 29,327 | |
Shareholders' equity - TotalEnergies share | 111,724 | 111,736 | 103,702 | |
Distribution of the income based on existing shares at the closing date | 2,846 | 3,263 | 2,383 | |
Total shareholders' equity | $ 114,570 | $ 114,999 | $ 106,085 | $ 119,305 |
NET-DEBT-TO-CAPITAL RATIO EXCLUDING LEASES | 7% | 15.30% | 21.70% |
Financial structure and fina_11
Financial structure and financial costs - Impact on statement of income, Impact of hedging strategies (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Financial structure, financial costs and financial instruments | |||
Cost of net debt | $ (1,243) | $ (1,525) | $ (2,110) |
Financial instruments, excluding commodity contracts | |||
Financial structure, financial costs and financial instruments | |||
Loans and receivables | 562 | 188 | 154 |
Financing liabilities and associated hedging instruments | (1,812) | (1,373) | (1,660) |
Fair value hedge (ineffective portion) | (5) | (10) | 12 |
Lease assets and obligations | (458) | (413) | (422) |
Assets and liabilities held for trading | 470 | 83 | (194) |
Cost of net debt | (1,243) | (1,525) | (2,110) |
Impact of the hedging strategies | |||
Revaluation impact at market value of bonds | 3,817 | 3,199 | (4,004) |
Swap hedging of bonds | (3,822) | (3,209) | 4,016 |
INEFFECTIVE PORTION OF THE FAIR VALUE HEDGE | (5) | (10) | 12 |
Cash flow hedge | |||
Profit (Loss) recorded in other comprehensive income of the period | 72 | (167) | (327) |
Recycled amount from other comprehensive income to the income statement of the period | (55) | (113) | 139 |
Ineffective portion of the cash flow hedges | $ 0 | $ 0 | $ 0 |
Financial structure and fina_12
Financial structure and financial costs - Hedging instruments and hedged items by strategy (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Bonds | Interest Rate Swap | Hedging of financial debt (Fair value hedge) | |||
Hedging instruments and hedged items by hedging strategy | |||
Nominal amount of hedging instruments | 5,000 | 6,767 | 8,063 |
Carrying amount of hedging instruments assets | $ 303 | $ 527 | |
Carrying amount of hedging instruments liabilities | $ (151) | (36) | (15) |
Carrying amount of hedged items liabilities | (4,892) | (7,037) | (8,586) |
Cumulative FVH adjustments included in the carrying amount of the hedged items liabilities | $ 108 | $ (837) | $ (1,136) |
Bonds | Interest Rate Swap | Cash flow hedge | |||
Hedging instruments and hedged items by hedging strategy | |||
Nominal amount of hedging instruments | 12,782 | 12,782 | 12,781 |
Carrying amount of hedging instruments assets | $ 815 | ||
Carrying amount of hedging instruments liabilities | $ (2) | $ (736) | $ (1,441) |
Bonds | Cross Currency Swaps | Hedging of financial debt (Fair value hedge) | |||
Hedging instruments and hedged items by hedging strategy | |||
Nominal amount of hedging instruments | 7,029 | 9,566 | 11,011 |
Carrying amount of hedging instruments assets | $ 154 | $ 836 | |
Carrying amount of hedging instruments liabilities | $ (1,124) | (382) | (211) |
Carrying amount of hedged items liabilities | (5,982) | (8,865) | (11,109) |
Cumulative FVH adjustments included in the carrying amount of the hedged items liabilities | $ 1,047 | $ 701 | $ (98) |
Bonds | Cross Currency Swaps | Cash flow hedge | |||
Hedging instruments and hedged items by hedging strategy | |||
Nominal amount of hedging instruments | 17,511 | 17,511 | 17,511 |
Carrying amount of hedging instruments assets | $ 372 | $ 1,856 | |
Carrying amount of hedging instruments liabilities | $ (2,731) | (660) | (32) |
End of hedging (before 2018) | Hedging of financial debt (Fair value hedge) | |||
Hedging instruments and hedged items by hedging strategy | |||
Cumulative FVH adjustments included in the carrying amount of the hedged items liabilities | $ (8) | $ (27) | $ (47) |
Financial structure and fina_13
Financial structure and financial costs - Maturity of derivative instruments (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Financial structure, financial costs and financial instruments | |||
Fair value, financial assets | $ 104,041 | $ 96,173 | $ 72,671 |
Fair value, financial liabilities | (136,009) | (132,686) | (121,410) |
Swaps hedging bonds | Not later than one year | Hedging of financial debt (Fair value hedge) | |||
Financial structure, financial costs and financial instruments | |||
Fair value, financial assets | 42 | 18 | |
Fair value, financial liabilities | (260) | (316) | (104) |
Total fair value | (260) | (274) | (86) |
Notional value, Assets | 1,000 | 566 | 1,250 |
Notional value, Liabilities | 2,858 | 3,737 | 1,445 |
Total notional value | 3,858 | 4,303 | 2,695 |
Swaps hedging bonds | Not later than one year | Cash flow hedge | |||
Financial structure, financial costs and financial instruments | |||
Fair value, financial assets | 2 | ||
Fair value, financial liabilities | (2) | ||
Notional value, Assets | 250 | ||
Notional value, Liabilities | 750 | ||
Total notional value | 1,000 | ||
Swaps hedging bonds | Due after 12 months | Hedging of financial debt (Fair value hedge) | |||
Financial structure, financial costs and financial instruments | |||
Fair value, financial assets | 415 | 1,365 | |
Fair value, financial liabilities | (1,015) | (102) | (142) |
Total fair value | (1,015) | 313 | 1,223 |
Notional value, Assets | 9,659 | 12,642 | |
Notional value, Liabilities | 8,171 | 2,371 | 3,737 |
Total notional value | 8,171 | 12,030 | 16,379 |
Swaps hedging bonds | Due after 12 months | Cash flow hedge | |||
Financial structure, financial costs and financial instruments | |||
Fair value, financial assets | 813 | 372 | 1,856 |
Fair value, financial liabilities | (2,731) | (1,396) | (1,473) |
Total fair value | (1,918) | (1,024) | 383 |
Notional value, Assets | 11,782 | 7,149 | 16,259 |
Notional value, Liabilities | 17,511 | 23,144 | 14,033 |
Total notional value | 29,293 | 30,293 | 30,292 |
Swaps hedging bonds | Year 2 | Hedging of financial debt (Fair value hedge) | |||
Financial structure, financial costs and financial instruments | |||
Total notional value | 2,087 | 3,858 | 4,350 |
Swaps hedging bonds | Year 2 | Cash flow hedge | |||
Financial structure, financial costs and financial instruments | |||
Total notional value | 3,659 | 1,000 | |
Swaps hedging bonds | Year 3 | Hedging of financial debt (Fair value hedge) | |||
Financial structure, financial costs and financial instruments | |||
Total notional value | 1,630 | 2,087 | 3,858 |
Swaps hedging bonds | Year 3 | Cash flow hedge | |||
Financial structure, financial costs and financial instruments | |||
Total notional value | 4,459 | 3,659 | 1,000 |
Swaps hedging bonds | Year 4 | Hedging of financial debt (Fair value hedge) | |||
Financial structure, financial costs and financial instruments | |||
Total notional value | 202 | 1,630 | 2,087 |
Swaps hedging bonds | Year 4 | Cash flow hedge | |||
Financial structure, financial costs and financial instruments | |||
Total notional value | 4,069 | 4,459 | 3,659 |
Swaps hedging bonds | Year 5 | Hedging of financial debt (Fair value hedge) | |||
Financial structure, financial costs and financial instruments | |||
Total notional value | 820 | 202 | 1,630 |
Swaps hedging bonds | Year 5 | Cash flow hedge | |||
Financial structure, financial costs and financial instruments | |||
Total notional value | 2,071 | 4,068 | 4,459 |
Swaps hedging bonds | More than 5 years | Hedging of financial debt (Fair value hedge) | |||
Financial structure, financial costs and financial instruments | |||
Total notional value | 3,432 | 4,253 | 4,454 |
Swaps hedging bonds | More than 5 years | Cash flow hedge | |||
Financial structure, financial costs and financial instruments | |||
Total notional value | 15,035 | 17,107 | 21,174 |
Forward exchange contracts related to operating activities | Not later than one year | |||
Financial structure, financial costs and financial instruments | |||
Fair value, financial assets | 4 | 16 | |
Fair value, financial liabilities | (19) | (8) | |
Total fair value | (15) | (8) | 16 |
Notional value, Assets | 70 | 36 | 262 |
Notional value, Liabilities | 187 | 283 | |
Total notional value | 257 | 319 | 262 |
Forward exchange contracts related to operating activities | Due after 12 months | |||
Financial structure, financial costs and financial instruments | |||
Fair value, financial assets | 3 | 20 | |
Fair value, financial liabilities | (19) | (14) | |
Total fair value | (16) | (14) | 20 |
Notional value, Assets | 91 | 394 | |
Notional value, Liabilities | 433 | 366 | |
Total notional value | 524 | 366 | 394 |
Forward exchange contracts related to operating activities | Year 2 | |||
Financial structure, financial costs and financial instruments | |||
Total notional value | 524 | 171 | 276 |
Forward exchange contracts related to operating activities | Year 3 | |||
Financial structure, financial costs and financial instruments | |||
Total notional value | 195 | 118 | |
Held for trading - Other interest rate swaps | Not later than one year | |||
Financial structure, financial costs and financial instruments | |||
Fair value, financial assets | 154 | 13 | 10 |
Fair value, financial liabilities | (94) | (19) | (51) |
Total fair value | 60 | (6) | (41) |
Notional value, Assets | 14,955 | 20,876 | 22,011 |
Notional value, Liabilities | 13,236 | 6,470 | 7,693 |
Total notional value | 28,191 | 27,346 | 29,704 |
Held for trading - Other interest rate swaps | Due after 12 months | |||
Financial structure, financial costs and financial instruments | |||
Fair value, financial assets | 447 | 78 | 84 |
Fair value, financial liabilities | (226) | (41) | (116) |
Total fair value | 221 | 37 | (32) |
Notional value, Assets | 7,470 | 5,170 | 3,214 |
Notional value, Liabilities | 4,128 | 2,561 | 3,695 |
Total notional value | 11,598 | 7,731 | 6,909 |
Held for trading - Other interest rate swaps | Year 2 | |||
Financial structure, financial costs and financial instruments | |||
Total notional value | 5,233 | 1,708 | 2,067 |
Held for trading - Other interest rate swaps | Year 3 | |||
Financial structure, financial costs and financial instruments | |||
Total notional value | 3,716 | 2,856 | 764 |
Held for trading - Other interest rate swaps | Year 4 | |||
Financial structure, financial costs and financial instruments | |||
Total notional value | 1,174 | 2,111 | 2,004 |
Held for trading - Other interest rate swaps | Year 5 | |||
Financial structure, financial costs and financial instruments | |||
Total notional value | 1,022 | 751 | 1,937 |
Held for trading - Other interest rate swaps | More than 5 years | |||
Financial structure, financial costs and financial instruments | |||
Total notional value | 453 | 305 | 137 |
Held for trading - Currency swaps and forward exchange contracts | Not later than one year | |||
Financial structure, financial costs and financial instruments | |||
Fair value, financial assets | 55 | 65 | 39 |
Fair value, financial liabilities | (110) | (37) | (48) |
Total fair value | (55) | 28 | (9) |
Notional value, Assets | 7,076 | 9,769 | 3,323 |
Notional value, Liabilities | 15,964 | 5,065 | 2,580 |
Total notional value | 23,040 | 14,834 | 5,903 |
Held for trading - Currency swaps and forward exchange contracts | Due after 12 months | |||
Financial structure, financial costs and financial instruments | |||
Fair value, financial assets | 44 | 17 | 5 |
Fair value, financial liabilities | (57) | (2) | |
Total fair value | (13) | 17 | 3 |
Notional value, Assets | 1,289 | 367 | 344 |
Notional value, Liabilities | 839 | (16) | 54 |
Total notional value | 2,128 | 351 | 398 |
Held for trading - Currency swaps and forward exchange contracts | Year 2 | |||
Financial structure, financial costs and financial instruments | |||
Total notional value | 391 | 265 | 189 |
Held for trading - Currency swaps and forward exchange contracts | Year 3 | |||
Financial structure, financial costs and financial instruments | |||
Total notional value | $ 1,737 | $ 86 | 145 |
Held for trading - Currency swaps and forward exchange contracts | Year 4 | |||
Financial structure, financial costs and financial instruments | |||
Total notional value | $ 64 |
Financial structure and fina_14
Financial structure and financial costs - Fair value hierarchy (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Financial structure, financial costs and financial instruments | ||||
Equity instruments | $ 1,051 | $ 1,625 | $ 2,007 | $ 1,778 |
Measured at fair value | Financial instruments, excluding commodity contracts | ||||
Financial structure, financial costs and financial instruments | ||||
Assets and liabilities held for trading | 214 | 82 | (68) | |
Equity instruments | 33 | 501 | 706 | |
Total fair value | (2,978) | (430) | 2,183 | |
Measured at fair value | Financial instruments, excluding commodity contracts | Level 1 | ||||
Financial structure, financial costs and financial instruments | ||||
Equity instruments | 33 | 501 | 706 | |
Total fair value | 33 | 501 | 706 | |
Measured at fair value | Financial instruments, excluding commodity contracts | Level 2 | ||||
Financial structure, financial costs and financial instruments | ||||
Assets and liabilities held for trading | 214 | 82 | (68) | |
Total fair value | (3,011) | (931) | 1,477 | |
Hedging of financial debt (Fair value hedge) | Measured at fair value | Financial instruments, excluding commodity contracts | ||||
Financial structure, financial costs and financial instruments | ||||
Hedge instruments | (1,275) | 39 | 1,137 | |
Hedging of financial debt (Fair value hedge) | Measured at fair value | Financial instruments, excluding commodity contracts | Level 2 | ||||
Financial structure, financial costs and financial instruments | ||||
Hedge instruments | (1,275) | 39 | 1,137 | |
Cash flow hedge | Measured at fair value | Financial instruments, excluding commodity contracts | ||||
Financial structure, financial costs and financial instruments | ||||
Hedge instruments | (1,950) | (1,052) | 408 | |
Cash flow hedge | Measured at fair value | Financial instruments, excluding commodity contracts | Level 2 | ||||
Financial structure, financial costs and financial instruments | ||||
Hedge instruments | $ (1,950) | $ (1,052) | $ 408 |
Financial structure and fina_15
Financial structure and financial costs - Interest rate risk sensitivity (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Sensitivity analysis | |||
Financial liabilities | $ (137,786) | $ (129,050) | $ (115,381) |
Financial assets | 104,041 | 96,173 | 72,671 |
Fair value, financial liabilities | (136,009) | (132,686) | (121,410) |
Fair value, financial assets | 104,041 | 96,173 | 72,671 |
Impact of changes in interest rates on the cost of net debt | |||
Cost of net debt | (1,243) | (1,525) | (2,110) |
Bonds (before swaps) | |||
Sensitivity analysis | |||
Financial liabilities | (32,184) | (39,256) | (46,239) |
Fair value, financial liabilities | (30,391) | (42,888) | (52,246) |
Swaps hedging bonds | |||
Sensitivity analysis | |||
Financial liabilities | (3,746) | (1,498) | (1,615) |
Financial assets | 813 | 787 | 3,221 |
Carrying amount | (2,933) | (711) | 1,606 |
Fair value, financial liabilities | (3,746) | (1,498) | (1,615) |
Fair value, financial assets | 813 | 787 | 3,221 |
Estimated fair value | (2,933) | (711) | 1,606 |
Current portion of non-current debt after swaps (excluding lease obligations) | |||
Sensitivity analysis | |||
Financial liabilities | (5,328) | (5,073) | (4,674) |
Fair value, financial liabilities | (5,344) | (5,077) | (4,696) |
Held for trading - Other interest rate swaps | |||
Sensitivity analysis | |||
Carrying amount | 281 | 31 | (73) |
Estimated fair value | 281 | 31 | (73) |
Held for trading - Currency swaps and forward exchange contracts | |||
Sensitivity analysis | |||
Carrying amount | (68) | 45 | (6) |
Estimated fair value | $ (68) | 45 | (6) |
Interest rate risk | |||
Sensitivity analysis | |||
Reasonably possible increase in risk assumption (as a percent) | 0.10% | ||
Reasonably possible decrease in risk assumption (as a percent) | (0.10%) | ||
Impact of changes in interest rates on the cost of net debt | |||
Impact on cost of net debt, interest rate increase | $ 18 | 47 | 29 |
Impact on cost of net debt, interest rate decrease | (18) | (47) | (29) |
Interest rate risk | Bonds (before swaps) | |||
Sensitivity analysis | |||
Change in fair value due to interest rate increase | 210 | 349 | 440 |
Change in fair value due to interest rate decrease | (210) | (349) | (440) |
Interest rate risk | Swaps hedging bonds | |||
Sensitivity analysis | |||
Change in fair value due to interest rate increase | (9) | (34) | (70) |
Change in fair value due to interest rate decrease | 9 | 34 | 70 |
Interest rate risk | Current portion of non-current debt after swaps (excluding lease obligations) | |||
Sensitivity analysis | |||
Change in fair value due to interest rate increase | 3 | 5 | 2 |
Change in fair value due to interest rate decrease | (3) | (5) | (2) |
Interest rate risk | Held for trading - Other interest rate swaps | |||
Sensitivity analysis | |||
Change in fair value due to interest rate increase | 10 | 16 | 18 |
Change in fair value due to interest rate decrease | $ (10) | $ (16) | $ (18) |
Financial structure and fina_16
Financial structure and financial costs - Foreign exchange risk sensitivity (Details) $ in Millions | Dec. 31, 2022 USD ($) | Dec. 31, 2022 | Dec. 31, 2022 $ / € | Dec. 31, 2022 $ / £ | Dec. 31, 2022 $ / ₽ | Dec. 31, 2021 USD ($) | Dec. 31, 2021 $ / € | Dec. 31, 2021 $ / £ | Dec. 31, 2021 $ / ₽ | Dec. 31, 2020 USD ($) | Dec. 31, 2020 $ / € | Dec. 31, 2020 $ / £ | Dec. 31, 2020 $ / ₽ |
Sensitivity analysis | |||||||||||||
Shareholders' equity at historical exchange rate | $ 124,560 | $ 124,407 | $ 113,958 | ||||||||||
Currency translation adjustment before net investment hedge | (12,831) | (12,666) | (10,279) | ||||||||||
Net investment hedge - open instruments | (5) | (5) | 23 | ||||||||||
Shareholders' equity at exchange rate as of the end of the period | 111,724 | 111,736 | 103,702 | ||||||||||
Foreign exchange risk | |||||||||||||
Sensitivity analysis | |||||||||||||
Exchange rates | 0.94 | 0.83 | 74.01 | 0.88 | 0.74 | 75.31 | 0.81 | 0.73 | 74.54 | ||||
Impact on shareholders equity and net income | |||||||||||||
Reasonably possible increase in risk assumption (as a percent) | 10% | ||||||||||||
Reasonably possible decrease in risk assumption (as a percent) | (10.00%) | ||||||||||||
Euro | |||||||||||||
Sensitivity analysis | |||||||||||||
Shareholders' equity at historical exchange rate | 15,835 | 24,617 | 28,893 | ||||||||||
Currency translation adjustment before net investment hedge | (7,170) | (4,239) | (2,448) | ||||||||||
Net investment hedge - open instruments | (5) | (5) | 23 | ||||||||||
Shareholders' equity at exchange rate as of the end of the period | 8,660 | 20,373 | 26,468 | ||||||||||
Euro | Foreign exchange risk | |||||||||||||
Impact on shareholders equity and net income | |||||||||||||
Impact of an increase in exchange rates on shareholders' equity | 866 | ||||||||||||
Impact of an increase in exchange rates on net income (TotalEnergies share) | (150) | ||||||||||||
Impact of a decrease in exchange rates on shareholders' equity | (866) | ||||||||||||
Impact of a decrease in exchange rates on net income (TotalEnergies share) | 150 | ||||||||||||
U.S. Dollar | |||||||||||||
Sensitivity analysis | |||||||||||||
Shareholders' equity at historical exchange rate | 88,902 | 70,030 | 60,613 | ||||||||||
Shareholders' equity at exchange rate as of the end of the period | 88,902 | 70,030 | 60,613 | ||||||||||
Pound Sterling | |||||||||||||
Sensitivity analysis | |||||||||||||
Shareholders' equity at historical exchange rate | 6,258 | 6,064 | 4,494 | ||||||||||
Currency translation adjustment before net investment hedge | (2,463) | (1,902) | (1,726) | ||||||||||
Shareholders' equity at exchange rate as of the end of the period | 3,795 | 4,162 | 2,768 | ||||||||||
Pound Sterling | Foreign exchange risk | |||||||||||||
Impact on shareholders equity and net income | |||||||||||||
Impact of an increase in exchange rates on shareholders' equity | 380 | ||||||||||||
Impact of an increase in exchange rates on net income (TotalEnergies share) | 275 | ||||||||||||
Impact of a decrease in exchange rates on shareholders' equity | (380) | ||||||||||||
Impact of a decrease in exchange rates on net income (TotalEnergies share) | (275) | ||||||||||||
Ruble | |||||||||||||
Sensitivity analysis | |||||||||||||
Shareholders' equity at historical exchange rate | 45 | 10,596 | 9,913 | ||||||||||
Currency translation adjustment before net investment hedge | (30) | (4,281) | (4,253) | ||||||||||
Shareholders' equity at exchange rate as of the end of the period | 15 | 6,315 | 5,660 | ||||||||||
Ruble | Foreign exchange risk | |||||||||||||
Impact on shareholders equity and net income | |||||||||||||
Impact of an increase in exchange rates on shareholders' equity | 2 | ||||||||||||
Impact of an increase in exchange rates on net income (TotalEnergies share) | (581) | ||||||||||||
Impact of a decrease in exchange rates on shareholders' equity | (2) | ||||||||||||
Impact of a decrease in exchange rates on net income (TotalEnergies share) | 581 | ||||||||||||
Other currencies | |||||||||||||
Sensitivity analysis | |||||||||||||
Shareholders' equity at historical exchange rate | 13,520 | 13,100 | 10,045 | ||||||||||
Currency translation adjustment before net investment hedge | (3,168) | (2,244) | (1,852) | ||||||||||
Shareholders' equity at exchange rate as of the end of the period | $ 10,352 | $ 10,856 | $ 8,193 |
Financial structure and fina_17
Financial structure and financial costs - Liquidity risk (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Financial structure, financial costs and financial instruments | ||||
Committed credit facilities granted by banks | $ 18,963 | |||
Unutilized credit facilities | 18,510 | |||
Maturity of financial assets and liabilities | ||||
Non-current financial debt (notional value excluding interests) | (43,961) | $ (48,630) | $ (56,873) | |
Non-current financial assets excluding derivative financial instruments | 1,428 | 1,522 | 1,451 | |
Current borrowings | (15,502) | (15,035) | (17,099) | |
Other current financial liabilities | (488) | (372) | (203) | |
Current financial assets | 8,746 | 12,315 | 4,630 | |
Assets and liabilities available for sale or exchange | 38 | 4 | (313) | |
Cash and cash equivalents | 33,026 | 21,342 | 31,268 | $ 27,352 |
Net amount before financial expense | (16,713) | (28,854) | (37,139) | |
Financial expense on non-current financial debt | (7,236) | (8,550) | (9,775) | |
Interest differential on swaps | (2,261) | (1,970) | (1,769) | |
NET AMOUNT | (26,210) | (39,374) | (48,683) | |
Financial assets and liabilities related to operating activities | ||||
Accounts payable | (41,346) | (36,837) | (23,574) | |
Other operating liabilities | (35,186) | (27,294) | (14,302) | |
Accounts receivable, net | 24,378 | 21,983 | 14,068 | |
Other operating receivables | 28,289 | 29,553 | 8,043 | |
TOTAL | (23,865) | (12,595) | (15,765) | |
Not later than one year | ||||
Maturity of financial assets and liabilities | ||||
Current borrowings | (15,502) | (15,035) | (17,099) | |
Other current financial liabilities | (488) | (372) | (203) | |
Current financial assets | 8,746 | 12,315 | 4,630 | |
Assets and liabilities available for sale or exchange | 38 | 4 | (313) | |
Cash and cash equivalents | 33,026 | 21,342 | 31,268 | |
Net amount before financial expense | 25,820 | 18,254 | 18,283 | |
Financial expense on non-current financial debt | (662) | (821) | (930) | |
Interest differential on swaps | (431) | (217) | (163) | |
NET AMOUNT | 24,727 | 17,216 | 17,190 | |
Year 2 | ||||
Maturity of financial assets and liabilities | ||||
Non-current financial debt (notional value excluding interests) | (6,719) | (6,073) | (9,849) | |
Non-current financial assets excluding derivative financial instruments | 367 | 41 | 59 | |
Net amount before financial expense | (6,352) | (6,032) | (9,790) | |
Financial expense on non-current financial debt | (583) | (786) | (888) | |
Interest differential on swaps | (312) | (235) | (149) | |
NET AMOUNT | (7,247) | (7,053) | (10,827) | |
Year 3 | ||||
Maturity of financial assets and liabilities | ||||
Non-current financial debt (notional value excluding interests) | (4,527) | (6,328) | (5,762) | |
Non-current financial assets excluding derivative financial instruments | 85 | 41 | 42 | |
Net amount before financial expense | (4,442) | (6,287) | (5,720) | |
Financial expense on non-current financial debt | (515) | (664) | (825) | |
Interest differential on swaps | (264) | (232) | (158) | |
NET AMOUNT | (5,221) | (7,183) | (6,703) | |
Year 4 | ||||
Maturity of financial assets and liabilities | ||||
Non-current financial debt (notional value excluding interests) | (3,356) | (4,420) | (5,990) | |
Non-current financial assets excluding derivative financial instruments | 85 | 38 | 45 | |
Net amount before financial expense | (3,271) | (4,382) | (5,945) | |
Financial expense on non-current financial debt | (449) | (576) | (696) | |
Interest differential on swaps | (272) | (229) | (173) | |
NET AMOUNT | (3,992) | (5,187) | (6,814) | |
Year 5 | ||||
Maturity of financial assets and liabilities | ||||
Non-current financial debt (notional value excluding interests) | (3,503) | (3,314) | (4,321) | |
Non-current financial assets excluding derivative financial instruments | 85 | 37 | 46 | |
Net amount before financial expense | (3,418) | (3,277) | (4,275) | |
Financial expense on non-current financial debt | (416) | (506) | (603) | |
Interest differential on swaps | (221) | (221) | (196) | |
NET AMOUNT | (4,055) | (4,004) | (5,074) | |
More than 5 years | ||||
Maturity of financial assets and liabilities | ||||
Non-current financial debt (notional value excluding interests) | (25,856) | (28,495) | (30,951) | |
Non-current financial assets excluding derivative financial instruments | 806 | 1,365 | 1,259 | |
Net amount before financial expense | (25,050) | (27,130) | (29,692) | |
Financial expense on non-current financial debt | (4,611) | (5,197) | (5,833) | |
Interest differential on swaps | (761) | (836) | (930) | |
NET AMOUNT | (30,422) | (33,163) | (36,455) | |
Not later than 3 months | ||||
Financial structure, financial costs and financial instruments | ||||
Unutilized credit facilities | 8,000 | |||
Derivative financial instruments related to commodity contracts | ||||
Financial assets and liabilities related to operating activities | ||||
Other operating liabilities | (18,774) | (16,166) | (3,666) | |
Other operating receivables | 20,220 | $ 22,412 | $ 1,428 | |
TotalEnergies SE | ||||
Financial structure, financial costs and financial instruments | ||||
Committed credit facilities granted by banks | $ 17,527 |
Financial structure and fina_18
Financial structure and financial costs - Credit risk (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Credit risk | |||
Maximum credit risk exposure | $ 102,990 | $ 94,548 | $ 70,664 |
Net margin call (paid) received | (2,857) | (7,299) | 1,556 |
Sale of receivables | |||
Credit risk | |||
Net value of receivables sold | 8,681 | ||
Financial asset remaining recognized after date of sale | 0 | ||
Financial liability remaining recognized after date of sale | 0 | ||
Reverse factoring | |||
Credit risk | |||
Net value of receivables sold | 491 | ||
Loans to equity affiliates | |||
Credit risk | |||
Maximum credit risk exposure | 3,733 | 4,532 | 5,129 |
Loans and advances | |||
Credit risk | |||
Maximum credit risk exposure | 1,837 | 2,107 | 2,458 |
Other non-current financial assets related to operational activities | |||
Credit risk | |||
Maximum credit risk exposure | 250 | 312 | 287 |
Non-current financial assets | |||
Credit risk | |||
Maximum credit risk exposure | 2,731 | 2,404 | 4,781 |
Accounts receivable | |||
Credit risk | |||
Maximum credit risk exposure | 24,378 | 21,983 | 14,068 |
Other operating receivables | |||
Credit risk | |||
Maximum credit risk exposure | 28,289 | 29,553 | 8,043 |
Current financial assets | |||
Credit risk | |||
Maximum credit risk exposure | 8,746 | 12,315 | 4,630 |
Cash and cash equivalents | |||
Credit risk | |||
Maximum credit risk exposure | $ 33,026 | $ 21,342 | $ 31,268 |
Financial instruments related_3
Financial instruments related to commodity contracts - Offsetting of financial assets and financial liabilities (Details) - Derivative financial instruments related to commodity contracts - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Financial structure, financial costs and financial instruments | ||||
Gross value before offsetting - assets | $ 22,380 | $ 25,125 | $ 2,053 | |
Gross value before offsetting - liabilities | (20,934) | (18,879) | (4,291) | |
Amounts offset - assets | (2,160) | (2,713) | (625) | |
Amounts offset - liabilities | 2,160 | 2,713 | 625 | |
Net balance sheet value presented - assets | 20,220 | 22,412 | 1,428 | |
Net balance sheet value presented - liabilities | (18,774) | (16,166) | (3,666) | |
Other amounts not offset - collateral received | (406) | |||
Other amounts not offset - collateral pledged | 726 | 65 | ||
Net carrying amount after other amounts not offset | 1,040 | 6,972 | (2,173) | |
Fair value | 1,446 | 6,246 | (2,238) | |
Fair value after other amounts not offset | 1,040 | 6,972 | (2,173) | |
Integrated Gas, Renewables & Power activities | ||||
Financial structure, financial costs and financial instruments | ||||
Gross value before offsetting - assets | 21,438 | 24,215 | 1,363 | |
Gross value before offsetting - liabilities | (19,091) | (17,832) | (3,291) | |
Amounts offset - assets | (2,013) | (2,341) | (220) | |
Amounts offset - liabilities | 2,013 | 2,341 | 220 | |
Net balance sheet value presented - assets | 19,425 | 21,874 | 1,143 | |
Net balance sheet value presented - liabilities | (17,078) | (15,491) | (3,071) | |
Other amounts not offset - collateral received | (406) | |||
Other amounts not offset - collateral pledged | 382 | 22 | ||
Net carrying amount after other amounts not offset | 1,941 | 6,765 | (1,906) | |
Fair value | 2,347 | 6,383 | (1,928) | $ (260) |
Fair value after other amounts not offset | 1,941 | 6,765 | (1,906) | |
Integrated Gas, Renewables & Power activities | Swaps | ||||
Financial structure, financial costs and financial instruments | ||||
Gross value before offsetting - assets | 1,268 | 92 | 10 | |
Gross value before offsetting - liabilities | (449) | (385) | (71) | |
Amounts offset - assets | (18) | (35) | ||
Amounts offset - liabilities | 18 | 35 | ||
Net balance sheet value presented - assets | 1,250 | 57 | 10 | |
Net balance sheet value presented - liabilities | (431) | (350) | (71) | |
Net carrying amount | 819 | (293) | (61) | |
Fair value | 819 | (293) | (61) | |
Integrated Gas, Renewables & Power activities | Forwards | ||||
Financial structure, financial costs and financial instruments | ||||
Gross value before offsetting - assets | 18,014 | 21,752 | 1,372 | |
Gross value before offsetting - liabilities | (18,638) | (16,954) | (3,113) | |
Amounts offset - assets | (1,994) | (2,120) | (186) | |
Amounts offset - liabilities | 1,994 | 2,120 | 186 | |
Net balance sheet value presented - assets | 16,020 | 19,632 | 1,186 | |
Net balance sheet value presented - liabilities | (16,644) | (14,834) | (2,927) | |
Net carrying amount | (624) | 4,798 | (1,741) | |
Fair value | (624) | 4,798 | (1,741) | |
Integrated Gas, Renewables & Power activities | Options | ||||
Financial structure, financial costs and financial instruments | ||||
Gross value before offsetting - assets | 2,143 | 1,953 | (61) | |
Gross value before offsetting - liabilities | (1) | (63) | (75) | |
Amounts offset - assets | (1) | (3) | (13) | |
Amounts offset - liabilities | 1 | 3 | 13 | |
Net balance sheet value presented - assets | 2,142 | 1,950 | (74) | |
Net balance sheet value presented - liabilities | (60) | (62) | ||
Net carrying amount | 2,142 | 1,890 | (136) | |
Fair value | 2,142 | 1,890 | (136) | |
Integrated Gas, Renewables & Power activities | Futures | ||||
Financial structure, financial costs and financial instruments | ||||
Gross value before offsetting - assets | 13 | 418 | 42 | |
Gross value before offsetting - liabilities | (3) | (430) | (32) | |
Amounts offset - assets | (183) | (21) | ||
Amounts offset - liabilities | 183 | 21 | ||
Net balance sheet value presented - assets | 13 | 235 | 21 | |
Net balance sheet value presented - liabilities | (3) | (247) | (11) | |
Net carrying amount | 10 | (12) | 10 | |
Fair value | 10 | (12) | 10 | |
Crude oil, petroleum products and freight rates activities | ||||
Financial structure, financial costs and financial instruments | ||||
Gross value before offsetting - assets | 942 | 910 | 690 | |
Gross value before offsetting - liabilities | (1,843) | (1,047) | (1,000) | |
Amounts offset - assets | (147) | (372) | (405) | |
Amounts offset - liabilities | 147 | 372 | 405 | |
Net balance sheet value presented - assets | 795 | 538 | 285 | |
Net balance sheet value presented - liabilities | (1,696) | (675) | (595) | |
Other amounts not offset - collateral pledged | 344 | 43 | ||
Net carrying amount after other amounts not offset | (901) | 207 | (267) | |
Fair value | (901) | (137) | (310) | $ (282) |
Fair value after other amounts not offset | $ (901) | 207 | (267) | |
Maximum maturity of most derivatives | 1 year | |||
Crude oil, petroleum products and freight rates activities | Swaps | ||||
Financial structure, financial costs and financial instruments | ||||
Gross value before offsetting - assets | $ 122 | 245 | 302 | |
Gross value before offsetting - liabilities | (114) | (289) | (443) | |
Amounts offset - assets | (58) | (166) | (207) | |
Amounts offset - liabilities | 58 | 166 | 207 | |
Net balance sheet value presented - assets | 64 | 79 | 95 | |
Net balance sheet value presented - liabilities | (56) | (123) | (236) | |
Net carrying amount | 8 | (44) | (141) | |
Fair value | 8 | (44) | (141) | |
Crude oil, petroleum products and freight rates activities | Forwards | ||||
Financial structure, financial costs and financial instruments | ||||
Gross value before offsetting - assets | 631 | 411 | 158 | |
Gross value before offsetting - liabilities | (1,489) | (444) | (297) | |
Amounts offset - assets | (7) | (88) | (13) | |
Amounts offset - liabilities | 7 | 88 | 13 | |
Net balance sheet value presented - assets | 624 | 323 | 145 | |
Net balance sheet value presented - liabilities | (1,482) | (356) | (284) | |
Net carrying amount | (858) | (33) | (139) | |
Fair value | (858) | (33) | (139) | |
Crude oil, petroleum products and freight rates activities | Options | ||||
Financial structure, financial costs and financial instruments | ||||
Gross value before offsetting - assets | 76 | 68 | 113 | |
Gross value before offsetting - liabilities | (227) | (236) | (125) | |
Amounts offset - assets | (69) | (40) | (68) | |
Amounts offset - liabilities | 69 | 40 | 68 | |
Net balance sheet value presented - assets | 7 | 28 | 45 | |
Net balance sheet value presented - liabilities | (158) | (196) | (57) | |
Net carrying amount | (151) | (168) | (12) | |
Fair value | (151) | (168) | (12) | |
Crude oil, petroleum products and freight rates activities | Options on futures | ||||
Financial structure, financial costs and financial instruments | ||||
Gross value before offsetting - assets | 113 | 186 | 117 | |
Gross value before offsetting - liabilities | (13) | (78) | (135) | |
Amounts offset - assets | (13) | (78) | (117) | |
Amounts offset - liabilities | 13 | 78 | 117 | |
Net balance sheet value presented - assets | 100 | 108 | ||
Net balance sheet value presented - liabilities | (18) | |||
Net carrying amount | 100 | 108 | (18) | |
Fair value | $ 100 | $ 108 | $ (18) |
Financial instruments related_4
Financial instruments related to commodity contracts - Changes in fair value (Details) - Derivative financial instruments related to commodity contracts - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Financial structure, financial costs and financial instruments | |||
Fair value as of the beginning of the period | $ 6,246 | $ (2,238) | |
Fair value as of the end of the period | 1,446 | 6,246 | $ (2,238) |
Integrated Gas, Renewables & Power activities | |||
Financial structure, financial costs and financial instruments | |||
Fair value as of the beginning of the period | 6,383 | (1,928) | (260) |
Impact on income | 11,406 | 6,817 | 676 |
Settled contracts | (15,628) | 1,408 | (2,348) |
Other | 186 | 86 | 4 |
Fair value as of the end of the period | 2,347 | 6,383 | (1,928) |
Crude oil, petroleum products and freight rates activities | |||
Financial structure, financial costs and financial instruments | |||
Fair value as of the beginning of the period | (137) | (310) | (282) |
Impact on income | 5,891 | 3,950 | 3,813 |
Settled contracts | (6,655) | (3,777) | (3,841) |
Fair value as of the end of the period | $ (901) | $ (137) | $ (310) |
Financial instruments related_5
Financial instruments related to commodity contracts - Fair value hierarchy (Details) - Derivative financial instruments related to commodity contracts - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of detailed information about financial instruments [line items] | ||||
Fair value of financial instruments | $ 1,446 | $ 6,246 | $ (2,238) | |
Active management horizon of assessment | 12 months | 12 months | 12 months | |
Level 1 | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Fair value of financial instruments | $ 1,132 | $ 3,850 | $ (149) | |
Level 2 | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Fair value of financial instruments | 679 | (3,834) | (681) | |
Level 3 | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Fair value of financial instruments | (365) | 6,230 | (1,408) | |
Integrated Gas, Renewables & Power activities | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Fair value of financial instruments | 2,347 | 6,383 | (1,928) | $ (260) |
Integrated Gas, Renewables & Power activities | Level 1 | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Fair value of financial instruments | 1,034 | 3,716 | (159) | |
Integrated Gas, Renewables & Power activities | Level 2 | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Fair value of financial instruments | 1,678 | (3,563) | (361) | |
Integrated Gas, Renewables & Power activities | Level 3 | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Fair value of financial instruments | (365) | 6,230 | (1,408) | |
Crude oil, petroleum products and freight rates activities | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Fair value of financial instruments | (901) | (137) | (310) | $ (282) |
Crude oil, petroleum products and freight rates activities | Level 1 | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Fair value of financial instruments | 98 | 134 | 10 | |
Crude oil, petroleum products and freight rates activities | Level 2 | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Fair value of financial instruments | $ (999) | $ (271) | $ (320) |
Financial instruments related_6
Financial instruments related to commodity contracts - Cash flow hedge (Details) - Derivative financial instruments related to commodity contracts - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Cash flow hedge | |||
Profit (Loss) recorded in other comprehensive income of the period | $ (5,524) | $ 445 | $ 14 |
Recycled amount from other comprehensive income to the income statement of the period | 1,317 | (56) | (1) |
Ineffective portion of the cash flow hedges | $ 132 | $ 0 | $ 0 |
Cash flow hedge | |||
Cash flow hedge | |||
Maximum maturity of most derivatives | 1 year |
Financial instruments related_7
Financial instruments related to commodity contracts - Markets related risks (Details) - Derivative financial instruments related to commodity contracts - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Integrated Gas, Renewables & Power activities | Integrated Gas, Renewables & Power | |||
Market related risk | |||
Period of possible future changes in market values | 1 day | ||
Historical period analysed in value-at-risk models | 2 years | ||
Confidence level (as a percent) | 97.50% | 97.50% | 97.50% |
Value at risk | $ 92 | $ 30 | $ 27 |
Integrated Gas, Renewables & Power activities | Integrated Gas, Renewables & Power | Maximum | |||
Market related risk | |||
Value at risk | 119 | 80 | 51 |
Integrated Gas, Renewables & Power activities | Integrated Gas, Renewables & Power | Minimum | |||
Market related risk | |||
Value at risk | 15 | 9 | 6 |
Integrated Gas, Renewables & Power activities | Integrated Gas, Renewables & Power | Average | |||
Market related risk | |||
Value at risk | $ 53 | $ 28 | $ 21 |
Crude oil, petroleum products and freight rates activities | Trading & Shipping | |||
Market related risk | |||
Period of possible future changes in market values | 1 day | ||
Historical period analysed in value-at-risk models | 400 days | ||
Confidence level (as a percent) | 97.50% | 97.50% | 97.50% |
Period to exceed value-at-risk loss measure if exposure is unchanged | 40 days | ||
Value at risk | $ 27 | $ 12 | $ 19 |
Crude oil, petroleum products and freight rates activities | Trading & Shipping | Maximum | |||
Market related risk | |||
Value at risk | 48 | 36 | 30 |
Crude oil, petroleum products and freight rates activities | Trading & Shipping | Minimum | |||
Market related risk | |||
Value at risk | 9 | 9 | 6 |
Crude oil, petroleum products and freight rates activities | Trading & Shipping | Average | |||
Market related risk | |||
Value at risk | $ 22 | $ 18 | $ 15 |
Post closing events (Details)
Post closing events (Details) - Issuance of clarifications on investments in India, in partnership with Adani - USD ($) $ in Millions | 12 Months Ended | |
Feb. 03, 2023 | Dec. 31, 2022 | |
Investments in partnership with Adani | ||
Post closing events | ||
Company's exposure resulting from investments, as a percentage of Company's capital employed | 2.40% | |
Company's exposure resulting from investments | $ 3,100 | |
Company's exposure on net operating income | $ 180 | |
Adani Total Private Limited | ||
Post closing events | ||
Group interest, equity method (as a percent) | 50% | |
Adani Total Gas Limited | ||
Post closing events | ||
Group interest, equity method (as a percent) | 37.40% | |
Adani Green Energy Limited | ||
Post closing events | ||
Group interest, equity method (as a percent) | 19.75% | |
AGEL23 | ||
Post closing events | ||
Group interest, equity method (as a percent) | 50% |
Consolidation scope (Details)
Consolidation scope (Details) | 12 Months Ended |
Dec. 31, 2022 entity | |
Consolidation scope | |
Number of entities | 1,149 |
Investments accounted for using equity method | |
Consolidation scope | |
Number of entities | 169 |
Exploration & Production | Brass Holdings B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | Congo Forest Company (CFC) | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | Deer Creek Pipelines Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 75% |
Exploration & Production | E.F. Oil And Gas Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | Elf E&P | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | Elf Exploration UK Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | Elf Petroleum Iran | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | Elf Petroleum UK Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | Mabruk Oil Operations | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 49.02% |
Exploration & Production | Marsa LNG LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 80% |
Exploration & Production | Stogg Eagle Funding B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TOQAP Guyana B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 60% |
Exploration & Production | Total Austral | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | Total E&P Al Shaheen A/S | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | Total E&P Angola Block 15/06 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | Total E&P Angola Block 16 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | Total E&P Angola Block 16 Holdings | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | Total E&P Angola Block 33 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | Total E&P Angola Block 39 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | Total E&P Chine | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | Total E&P Chissonga | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | Total E&P Dunga GmbH | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | Total E&P East El Burullus Offshore B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | Total E&P Egypt Block 2 B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | Total E&P Egypt Offshore Western Desert B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | Total E&P Egypte | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | Total E&P Guyane Francaise | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | Total E&P Jutland Denmark B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | Total E&P Kurdistan Region of Iraq (Harir) B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | Total E&P Kurdistan Region of Iraq (Safen) B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | Total E&P Kurdistan Region of Iraq (Taza) B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | Total E&P Kurdistan Region of Iraq B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | Total E&P M2 Holdings Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | Total E&P Myanmar | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | Total E&P Participations Petrolieres Congo | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | Total E&P Philippines B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | Total E&P RDC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | Total E&P Services China Company Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | Total E&P South Pars | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | Total E&P South Sudan | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | Total E&P Syrie | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | Total E&P Tajikistan B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | Total Oil and Gas South America | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | Total Pars LNG | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | Total South Pars | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | Total Venezuela | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies Anchor USA LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies BTC B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies Denmark ASW | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies Denmark ASW Pipeline ApS | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies E&P Algrie | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies E&P Algrie Berkine A/S | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies E&P Americas LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies E&P Colombie | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies E&P New Ventures Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies E&P North Sea UK Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies E&P Research & Technology USA LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies E&P UK Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies E&P USA Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies E&P USA Oil Shale LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies E&P USA Well Containment LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies East Africa Midstream B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP (Brunei) B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Absheron B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Abu Al Bu Khoosh | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Angola | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Angola Block 17.06 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Angola Block 25 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Angola Block 29 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Angola Block 32 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Angola Block 40 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Angola Block 48 B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Angola Blocks 20-21 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Asia Pacific Pte. Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Azerbaijan B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Block 9 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Bolivie | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Brasil Ltda | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Bulgaria B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Cambodge | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Canada Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Company UK Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Congo | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 85% |
Exploration & Production | TotalEnergies EP Cote d'Ivoire B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Cyprus B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Danmark A/S | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Danmark A/S - CPH | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Dolphin Holdings | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Dolphin Midstream | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Dolphin Upstream | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP France | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Gabon | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 58.28% |
Exploration & Production | TotalEnergies EP Gass Handel Norge AS | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Gastransport Nederland B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Golfe | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Greece B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Guyana B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Holding UAE B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Holdings Russia | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP International K1 Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP International K2 Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP International K3 Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP International Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Iran B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Iraq | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Italia S.p.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Kazakhstan | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Kenya B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Liban S.A.L. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Libye | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Lower Zakum B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Malaysia | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Mauritania Block C18 B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Mauritania Block C9 B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Mauritania Blocks DW B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Mauritanie | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP M'Bridge B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Mexico S.A. de C.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Namibia B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Nederland B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Nigeria Deepwater A Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Nigeria Deepwater B Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Nigeria Deepwater C Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Nigeria Deepwater D Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Nigeria Deepwater E Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Nigeria Deepwater F Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Nigeria Deepwater G Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Nigeria Deepwater H Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Nigeria Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Nigeria S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Norge AS | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Oman Block 11 B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Oman S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Petroleum Angola | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Pipelines Danmark A/S | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Profils Petroliers | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Qatar | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Qatar 2 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Ratawi Hub | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Russie | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Sao Tome and Principe B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Sebuku | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Senegal | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Services Brazil B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP South Africa B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP South Africa Block 567 (Pty) Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Suriname B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Thailand | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP UAE Unconventional Gas B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Uganda S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Umm Shaif Nasr B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Venezuela B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Vostok LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Waha | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Well Response | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Yemen | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies EP Yemen Block 3 B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies Holdings EACOP S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies Holdings International B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies Holdings Nederland B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies Jack USA LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies LNG Supply Services USA | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies Nature Based Solutions | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies Nature Based Solutions II | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies Nederland Facilities Management B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies Offshore GB Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies Offshore UK Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies Petroleo & Gas Brasil Ltda | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies Shipping Brazil B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies Termokarstovoye S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies Upstream Danmark A/S | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies Upstream Nigeria | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | TotalEnergies Upstream UK Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | Uintah Colorado Resources, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 66.67% |
Exploration & Production | Uintah Colorado Resources II, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Exploration & Production | Abu Dhabi Gas Industries Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 15% |
Exploration & Production | Angola LNG Supply Services, LLC | |
Consolidation scope | |
Group interest, equity method (as a percent) | 13.60% |
Exploration & Production | Bonny Gas Transport Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 15% |
Exploration & Production | Brass LNG Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 20.48% |
Exploration & Production | Dolphin Energy Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 24.50% |
Exploration & Production | East African Crude Oil Pipeline (EACOP) Ltd | |
Consolidation scope | |
Group interest, equity method (as a percent) | 62% |
Exploration & Production | Gas Investment and Services Company Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 10% |
Exploration & Production | Global Forestry Development (GFD) | |
Consolidation scope | |
Group interest, equity method (as a percent) | 49% |
Exploration & Production | Norpipe Oil A/S | |
Consolidation scope | |
Group interest, equity method (as a percent) | 34.93% |
Exploration & Production | Norpipe Petroleum UK Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 45.22% |
Exploration & Production | Norpipe Terminal Holdco Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 45.22% |
Exploration & Production | Norsea Pipeline Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 45.22% |
Exploration & Production | North Oil Company | |
Consolidation scope | |
Group interest, equity method (as a percent) | 30% |
Exploration & Production | Northern Lights JV DA | |
Consolidation scope | |
Group interest, equity method (as a percent) | 33.33% |
Exploration & Production | Pars LNG Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 40% |
Exploration & Production | Private Oil Holdings Oman Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 10% |
Integrated Gas, Renewables & Power | Abarloar Solar S.L.U. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Alamo Solarbay S.L.U. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Alcad AB | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Amura Solar, S.L.U. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Anayet Solar, S.L.U. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Anclote Solar, S.L.U. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Ancora Solar, S.L.U. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Andromeda Solarbay HP S.L. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Arbotante Solar, S.L.U. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Armada Solar, S.L.U. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Atolon Solar, S.L.U. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Auriga Generacion S.L. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Baker Creek Solar, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Baser Comercializadora de Referencia | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | BioBearn S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | BioGasconha S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Biogaz Breuil | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Biogaz Chatillon | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Biogaz Corcelles | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Biogaz Epinay | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Biogaz Libron | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Biogaz Milhac | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Biogaz Soignolles | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Biogaz Torcy | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Biogaz Vert Le Grand | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Biogaz Viriat | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | BioPommeria S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Bioroussillon S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Biovilleneuvois S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Brazoria Solar I, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Brazoria Solar II, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Cefeo Solar S.L. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Centaurus Environment S.L.U. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Central Solaire RENFR 331 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Centrale Eolienne De La Vallee Gentillesse | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 74.80% |
Integrated Gas, Renewables & Power | Centrale Hydrolique Alas | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Centrale Hydrolique Ardon | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 90% |
Integrated Gas, Renewables & Power | Centrale Hydrolique Arvan | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Centrale Hydrolique Barbaira | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Centrale Hydrolique Bonnant | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Centrale Hydrolique Gavet | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Centrale Hydrolique Miage | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Centrale Hydrolique Previnquieres | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Centrale Solaire 2 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Centrale Solaire 21.09-4 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Centrale Solaire APV R&D | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Centrale Solaire Autoprod | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Centrale Solaire Beauce Val de Loire | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 60% |
Integrated Gas, Renewables & Power | Centrale Solaire Borde Blanche | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Centrale Solaire Cet d'Al Gouty | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Centrale Solaire De Cazedarnes | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 75% |
Integrated Gas, Renewables & Power | Centrale Solaire Dom | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Centrale Solaire Du Centre Ouest | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Centrale Solaire DU Lavoir | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 60% |
Integrated Gas, Renewables & Power | Centrale Solaire Forum Laudun | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Centrale Solaire Gatilles | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Centrale Solaire Golbey | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Centrale Solaire La Potence | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Centrale Solaire La Roquette | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Centrale Solaire Lacoste | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Centrale Solaire Larampeau | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Centrale Solaire Les Cordeliers | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 83.98% |
Integrated Gas, Renewables & Power | Centrale Solaire Les Cordeliers 2 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 75% |
Integrated Gas, Renewables & Power | Centrale Solaire Lot 1 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Centrale Solaire Ombrieres Cap Agathois | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 83.98% |
Integrated Gas, Renewables & Power | Centrale Solaire Ombrieres De Blyes | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 60% |
Integrated Gas, Renewables & Power | Centrale Solaire Plateau De Pouls | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 51% |
Integrated Gas, Renewables & Power | Centrale Solaire Pouy Negue 2 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Centrale Solaire RENFR 436 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Centrale Solaire Solarshare Bordeaux | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Centrale Solaire Terre du Roi | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Centrale Solaire Zabo 2 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Cerezo Solar, S.L.U. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Cidra Solar, S.L.U. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Circinus Energy S.L. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Clinton Solar, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Columba Renovables S.L.U. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Comanche Solar, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Core Energy Development, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Core Fund 1, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Core Solar Capital, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Core Solar Data, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Core Solar Development, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Core Solar DG, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Core Solar Holdings I, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Core Solar Land Holdings I, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Core Solar SPV X, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Core Solar SPV XV, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Core Solar SPV XXIV, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Core Solar, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Cottonwood Bayou Solar, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Cowtown Solar, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Crc Kern Front Tugboat, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | CS Carrefour de l'Europe | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | CS Les Comottes | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | CS QUADRAO 2 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Cygnus Environment S.L. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Danish Fields Solar, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Eclipse Solar SPA | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Edelweis Solar, S.L.U. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Eole Boin | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Eole Dadoud | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Eole Fonds Caraibes | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Eole Grand Maison | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Eole La Montagne | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 87.60% |
Integrated Gas, Renewables & Power | Eole La Perriere S.A.R.L. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Eole Morne Carriere | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Eole Yate | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Evergreen Solar, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Falla Solar, S.L.U. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Fast Jung KB | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Fleming Solar, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Fluxsol | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Fonroche Energies Renouvelables S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Frieman & Wolf Batterietechnick GmbH | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Garonne-et-Canal Energies | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Glaciere De Palisse | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Global LNG Armateur S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Global LNG Downstream S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Global LNG North America Corporation | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Global LNG S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Go Electric | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Golden Triangle Solar, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Goodfellow Solar III, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Greenflex Actirent Group, S.L. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Greenflex S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Grillete Solar, S.L.U. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Helio 100 Kw | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Helio 971 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Helio 974 Sol 1 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Helio 974 Toiture 2 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Helio Fonds Caraibes | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Helio L'R | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Helio Saint Benoit | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Helio Wabealo | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Helix Project V, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Hetty | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Hill Solar I, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Hill Solar I, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Hill Solar II, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Hydro 974 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Hydromons | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Jmcp | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 50.05% |
Integrated Gas, Renewables & Power | Keith Solar I, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | LA Basin Solar I, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Lanuza Solar, S.L.U. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Lauderdale Solar, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Laurens Solar I, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Lemoore Stratford Land Holdings IV, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Les vents de la Moivre 1 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Les Vents de la Moivre 2 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Les Vents de la Moivre 3 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Les Vents de la Moivre 4 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Les Vents de la Moivre 5 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Les Vents De Nivillac | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Luce Solar SPA | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Margeriaz Energie | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Martianez Solar, S.L.U. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Marysville Unified School District Solar, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Mauricio Solar, S.L.U. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Methanergy | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Moz LNG1 Co-Financing Company | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 26.50% |
Integrated Gas, Renewables & Power | Moz LNG1 Financing Company Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 26.50% |
Integrated Gas, Renewables & Power | Moz LNG1 Holding Company Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 26.50% |
Integrated Gas, Renewables & Power | Mozambique LNG Marine Terminal Company S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 26.50% |
Integrated Gas, Renewables & Power | Mozambique MOF Company S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 26.50% |
Integrated Gas, Renewables & Power | Mustang Creek Solar, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Myrtle Solar, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Nuza Solar, S.L.U. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Papua LNG Development Pte Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Parque Fotovoltaico Alicahue Solar SPA | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Parque Fotovoltaico Santa Adriana Solar SPA | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Piedra Solar, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Pilastra Solar, S.L.U. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Planta solar OPDE Andalucia 3, S.L.U. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Portalon Solar, S.L.U. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Pos Production II | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 60% |
Integrated Gas, Renewables & Power | Pos Production III | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 70% |
Integrated Gas, Renewables & Power | Pos Production IV | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 70% |
Integrated Gas, Renewables & Power | Pos Production V | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 70% |
Integrated Gas, Renewables & Power | Poste HTB du Mont de L'Arbre | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Postigo Solar, S.L.U. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | PT TATS Indonesia | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Quilla Solar, S.L.U. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Rabiza Solar, S.L.U. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Randolph Solar I, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Recova Solar, S.L.U. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Regata Solar, S.L.U. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | RLA Solar SPA | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Rolling Plains Solar, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Saft (Zhuhai FTZ) Batteries Company Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Saft (Zhuhai) Energy Storage Co | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Saft AB | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Saft America Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Saft AS | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Saft Australia PTY Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Saft Batterias SL | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Saft Batterie Italia S.R.L. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Saft Batterien GmbH | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Saft Batteries Pte Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Saft Batteries PTY Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Saft Batterijen B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Saft Do Brasil Ltda | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Saft EV S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Saft Ferak AS | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Saft Groupe S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Saft Hong Kong Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Saft India Private Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Saft Japan KK | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Saft Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Saft LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Saft Nife ME Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Saft S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Sanders Creek Solar, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Carport NJ, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Academia 1, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Always Low Prices Hi, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Arizona HMR-1, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Baltimore Carney, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Baltimore Roofs, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Bay City 2, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Big Apple BTM, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Big Apple CDG, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Big Apple CDGB,LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Blakeslee 2, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Buchanan 1, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Buchanan 2, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star California LXXV, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star California LXXVI, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star California LXXVIII, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star California XXXV, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star California XXXVI, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star California XXXVIII, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Cambridge 1, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Carbondale 1, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Carlsbad 1, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Charles City 1, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Charles City 2, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Charlotte 1, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Clovis Curry North, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Clovis Curry South, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Co Co 2500, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Colorado II, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star CRC Kern Front, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star CRC Mt. Poso, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star CRC North Shafter, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star CRC Pier A West, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star CRC Yowlumne 1 North, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star CRC Yowlumne 2 South, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Deer Island, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Dornsife 1, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Fort Atkinson South, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star George Gift, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Gloucester 1, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Gloucester 2, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Goochland 1, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Goodwin Storage, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Halifax 1, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Harbor, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Hawley 1, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star HD Maryland, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star HD New Jersey, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star HD New York, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Healthy 1, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Healthy Lake, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Herald Square 1, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Hernwood, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Irondale, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Jal, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Kennedale Storage, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Khsd, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star LA County High Desert, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Lake Mills 1, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star LCR Culver City, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star LCR Irvine, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star LCR Split 2, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Lincoln School, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Lompoc Diatomite 1, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Los Lunas 2 LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Los Lunas, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star MA - Tewksbury, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Massachusetts II, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Massachusetts III, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Maxx 1, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Mayfield 1, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Maynard 1, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Mifflinburg 1, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Millville Rohrsburg, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Millville, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Mount Crawford 1, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star North Herty Storage, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Orangeville 2, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Orangeville Eagle, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Parent CRC Kern Front, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Parent CRC Mt. Poso, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Parent CRC North Shafter, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Parent CRC Pier A West, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Parent CRC Yowlumne 1 North, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Parent CRC Yowlumne 2 South, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Parkton, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Pennsauken, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Petersburg 1, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Philipsburg 1, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Pleasant Mount 1, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Pleasant Mount 2, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Prime 2, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star PTC 1, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star PTC 2, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Serving Science 2, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Serving Science, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star South Deering, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Storage Texas, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Timberville 1, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Timberville 2, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Track Southern Ave 1, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Tranquility, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Unkety Brook, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Urbana Landfill South, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Virginia Holdco, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Ware 1, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Western Hills Storage, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solar Star Wholesome Portland, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solarstar Ma I, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Solarstar Prime I, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | SolarStorage Fund A, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | SolarStorage Fund B, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | SolarStorage Fund C, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | SolarStorage Fund D, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Sombrero Solar, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Spinnaker Solar, S.L.U. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | SPWR SS 1, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Strongstown Solar, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | SunPower Bobcat Solar, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | SunPower Commercial FTB Construction, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | SunPower Commercial Holding Company FTB SLB Parent, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | SunPower Commercial Holding Company FTB SLB, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | SunPower Helix I, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | SunPower NY CDG 1,LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | SunPower Revolver HoldCo I Parent, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | SunPower Revolver HoldCo I, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Swingletree Operations, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Tadiran Batteries GmbH | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Tadiran Batteries Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TNE Holdco 1 Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Total Direct Energie Belgium | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Total E&P Indonesie | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Total Energies Biogaz France | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Total Solar Singapore Pte Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies - Centrale Electrique Bayet | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies - Centrale Electrique Marchienne-au-Pont | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies - Centrale Electrique Pont-sur-Sambre | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies - Centrale Electrique Saint-Avold | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies - Centrale Electrique Toul | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Australia Unit Trust | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 0% |
Control (as a percent) | 75.16% |
Integrated Gas, Renewables & Power | TotalEnergies Biogas Holdings USA, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Carbon Solutions | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Carolina Long Bay, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies CCS Australia Pty Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Clientes | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies CW I Solar, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies DF Solar, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Totalenergies Distributed Generation Assets Usa, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Distributed Generation Philippines Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Totalenergies Distributed Generation Usa, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies E&P Yamal | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Electricidad y Gas Espana | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Electricite et Gaz France | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies EP Angola Developpement Gaz | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies EP Australia | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies EP Australia II | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies EP Australia III | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies EP Barnett USA | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies EP Holding Mauritius Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies EP Holdings Australia Pty Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies EP Ichthys B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies EP Ichthys Holdings | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies EP Ichthys Pty Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies EP Indonesia Mentawai B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies EP Mozambique Area1, Ltda | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies EP Oman Block 12 B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies EP Oman Development B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies EP PNG Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies EP PNG2 B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies EP Salmanov | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies EP Singapore Pte. Ltd. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies EP Tengah | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies EP Transshipment S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies ESS Flandres | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Exploration Australia Pty Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Gas & Power Asia Private Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Gas & Power Brazil | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Gas & Power Chartering UK Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Gas & Power Holdings UK Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Gas & Power Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Gas & Power Ltd, London, Meyrin - Geneva branch | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Gas & Power North America, Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Gas & Power Services UK Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Gas Holdings Andes | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Gas Pipeline USA, Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Gas y Electricidad Argentina S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Gaz & Electricite Holdings | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies GLNG Australia | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies GLNG Holdings Australia S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies H Solar, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies LNG Angola | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies M Solar, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Mercado Espana | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies New Ventures USA, Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Offshore Wind Korea | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies OFW US 1, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies OFW US 4, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Power Generation France | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Power & Gas Belgium | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Renewables | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Renewables Asia | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Renewables DG Asia Assets PTE Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Renewables DG Development Asia Pte. Ltd. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Renewables DG Holdings Asia PTE Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Renewables DG MEA - Assets 1 FZE | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Renewables DG MEA FZE | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Renewables ESS Carling | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Renewables ESS Mayotte | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Renewables Iberica, S.L.U | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Renewables Indian Ocean Ltd. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Renewables International | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Renewables Latin America | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Renewables Projects Philippines Corporation | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Renewables Projects Vietnam | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Totalenergies Renewables R4 Holdco Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Totalenergies Renewables Seagreen Holdco Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Renewables Thailand | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Renewables UK Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Renewables USA, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Renouvelables Danemark ApS | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Renouvelables France | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Renouvelables Pacific | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Solar DG Nederland B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Solar France | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Solar Intl | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Solar Wind Indian Ocean Ltd. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Sviluppo Italia S.R.L. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies USA International LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Ventures Emerging Markets | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Ventures Europe | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Ventures International | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Wire 3, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TotalEnergies Yemen LNG Company Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TQN Hydro | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TQN Solar | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | TQN Wind | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Trofeo Solar, S.L.U. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Valencia Solar 1, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Valencia Solar 2, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Valencia Solar 3, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Valencia Solar 4, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Valorene | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 66% |
Integrated Gas, Renewables & Power | Vents d'Oc Centrale d'Energie Renouvelable 16 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Vents D'Oc Centrale D'Energie Renouvelable 18 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Wichita Data, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Wichita Solar I, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Winche Solar, S.L.U. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Wind 1026 GmbH | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Wind 1029 GmbH | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Winergy | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Woodbury Solar, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | WP France 21 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Integrated Gas, Renewables & Power | Abu Dhabi Gas Liquefaction Company Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 5% |
Integrated Gas, Renewables & Power | Adani Gas Limited AGL | |
Consolidation scope | |
Group interest, equity method (as a percent) | 37.40% |
Integrated Gas, Renewables & Power | Adani Green Energy Ltd | |
Consolidation scope | |
Group interest, equity method (as a percent) | 19.75% |
Integrated Gas, Renewables & Power | Adani Green Energy Twenty Three Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Integrated Gas, Renewables & Power | Adani Total Private Limited (d) | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Integrated Gas, Renewables & Power | Advanced Thermal Batteries Inc. | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Integrated Gas, Renewables & Power | Aerospatiale Batteries (ASB) | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Integrated Gas, Renewables & Power | Aerowatt Energies | |
Consolidation scope | |
Group interest, equity method (as a percent) | 65% |
Integrated Gas, Renewables & Power | Aerowatt Energies 2 | |
Consolidation scope | |
Group interest, equity method (as a percent) | 51% |
Integrated Gas, Renewables & Power | Al Kharsaa Solar Holdings B.V. | |
Consolidation scope | |
Group interest, equity method (as a percent) | 49% |
Integrated Gas, Renewables & Power | Alicante | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Integrated Gas, Renewables & Power | Alicante 2 | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Integrated Gas, Renewables & Power | Altergie Territoires 2 | |
Consolidation scope | |
Group interest, equity method (as a percent) | 44.58% |
Integrated Gas, Renewables & Power | Altergie Territoires 3 | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Integrated Gas, Renewables & Power | Amber Solar Power Cinco, S.L. | |
Consolidation scope | |
Group interest, equity method (as a percent) | 65% |
Integrated Gas, Renewables & Power | Amber Solar Power Cuatro, S.L. | |
Consolidation scope | |
Group interest, equity method (as a percent) | 65% |
Integrated Gas, Renewables & Power | Amber Solar Power Dieciseis, S.L. | |
Consolidation scope | |
Group interest, equity method (as a percent) | 65% |
Integrated Gas, Renewables & Power | Amber Solar Power Diez, S.L. | |
Consolidation scope | |
Group interest, equity method (as a percent) | 65% |
Integrated Gas, Renewables & Power | Amber Solar Power Nueve, S.L. | |
Consolidation scope | |
Group interest, equity method (as a percent) | 65% |
Integrated Gas, Renewables & Power | Amber Solar Power Quince, S.L. | |
Consolidation scope | |
Group interest, equity method (as a percent) | 65% |
Integrated Gas, Renewables & Power | Amber Solar Power Tres, S.L. | |
Consolidation scope | |
Group interest, equity method (as a percent) | 65% |
Integrated Gas, Renewables & Power | Amber Solar Power Uno, S.L. | |
Consolidation scope | |
Group interest, equity method (as a percent) | 65% |
Integrated Gas, Renewables & Power | Angola LNG Ltd | |
Consolidation scope | |
Group interest, equity method (as a percent) | 13.60% |
Integrated Gas, Renewables & Power | Arctic LNG 2 LLC | |
Consolidation scope | |
Group interest, equity method (as a percent) | 10% |
Integrated Gas, Renewables & Power | ATJV Offshore | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Integrated Gas, Renewables & Power | Attentive Energy, LLC | |
Consolidation scope | |
Group interest, equity method (as a percent) | 84% |
Integrated Gas, Renewables & Power | Automotive Cells Company, S.E. | |
Consolidation scope | |
Group interest, equity method (as a percent) | 33.33% |
Integrated Gas, Renewables & Power | BioDeac S.A.S. | |
Consolidation scope | |
Group interest, equity method (as a percent) | 65% |
Integrated Gas, Renewables & Power | BioLoie S.A.S. | |
Consolidation scope | |
Group interest, equity method (as a percent) | 55% |
Integrated Gas, Renewables & Power | BioQuercy S.A.S. | |
Consolidation scope | |
Group interest, equity method (as a percent) | 66% |
Integrated Gas, Renewables & Power | Blue Gem Wind Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 80% |
Integrated Gas, Renewables & Power | Cameron LNG Holdings LLC | |
Consolidation scope | |
Group interest, equity method (as a percent) | 16.60% |
Integrated Gas, Renewables & Power | Castille | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Integrated Gas, Renewables & Power | Centrale Photovoltaique De Merle Sud | |
Consolidation scope | |
Group interest, equity method (as a percent) | 40.58% |
Integrated Gas, Renewables & Power | Centrale Solaire Chemin De Melette | |
Consolidation scope | |
Group interest, equity method (as a percent) | 51% |
Integrated Gas, Renewables & Power | Centrale Solaire Estarac | |
Consolidation scope | |
Group interest, equity method (as a percent) | 35% |
Integrated Gas, Renewables & Power | Centrale Solaire Guinots | |
Consolidation scope | |
Group interest, equity method (as a percent) | 60% |
Integrated Gas, Renewables & Power | Centrale Solaire Heliovale | |
Consolidation scope | |
Group interest, equity method (as a percent) | 59.63% |
Integrated Gas, Renewables & Power | Centrale Solaire La Tastere | |
Consolidation scope | |
Group interest, equity method (as a percent) | 60% |
Integrated Gas, Renewables & Power | Centrale Solaire Lodes | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Integrated Gas, Renewables & Power | Centrale Solaire Mazeran Lr | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Integrated Gas, Renewables & Power | Centrale Solaire Merle Sud 2 | |
Consolidation scope | |
Group interest, equity method (as a percent) | 60% |
Integrated Gas, Renewables & Power | Centrale Solaire Olinoca | |
Consolidation scope | |
Group interest, equity method (as a percent) | 10% |
Integrated Gas, Renewables & Power | Centrale Solaire Toiture Josse | |
Consolidation scope | |
Group interest, equity method (as a percent) | 60% |
Integrated Gas, Renewables & Power | Centrale Solaire Vauvoix | |
Consolidation scope | |
Group interest, equity method (as a percent) | 60% |
Integrated Gas, Renewables & Power | Colon LNG Marketing S. de R. L. | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Integrated Gas, Renewables & Power | Cote d'Ivoire GNL | |
Consolidation scope | |
Group interest, equity method (as a percent) | 34% |
Integrated Gas, Renewables & Power | Del Rio Funding LLC | |
Consolidation scope | |
Group interest, equity method (as a percent) | 59.57% |
Percentage of control in associate or joint venture | 50% |
Integrated Gas, Renewables & Power | ECA LNG Holdings B.V. | |
Consolidation scope | |
Group interest, equity method (as a percent) | 16.60% |
Integrated Gas, Renewables & Power | Energie Developpement | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Integrated Gas, Renewables & Power | Eole Champagne Conlinoise | |
Consolidation scope | |
Group interest, equity method (as a percent) | 66% |
Integrated Gas, Renewables & Power | Eolmed | |
Consolidation scope | |
Group interest, equity method (as a percent) | 20% |
Integrated Gas, Renewables & Power | G.K. Succeed Tsu Haze | |
Consolidation scope | |
Group interest, equity method (as a percent) | 45% |
Integrated Gas, Renewables & Power | Galibier | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Integrated Gas, Renewables & Power | Gas Del Litoral SRLCV | |
Consolidation scope | |
Group interest, equity method (as a percent) | 25% |
Integrated Gas, Renewables & Power | GIP III Zephyr Holdings, LLC | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Integrated Gas, Renewables & Power | Gray Whale Offshore Wind Power No.1 Co., Ltd | |
Consolidation scope | |
Group interest, equity method (as a percent) | 42.50% |
Integrated Gas, Renewables & Power | Gray Whale Offshore Wind Power No.2 Co., Ltd | |
Consolidation scope | |
Group interest, equity method (as a percent) | 42.50% |
Integrated Gas, Renewables & Power | Gray Whale Offshore Wind Power No.3 Co. Ltd | |
Consolidation scope | |
Group interest, equity method (as a percent) | 42.50% |
Integrated Gas, Renewables & Power | GT R4 Holding Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Integrated Gas, Renewables & Power | Gulf Total Tractebel Power Company PSJC | |
Consolidation scope | |
Group interest, equity method (as a percent) | 20% |
Integrated Gas, Renewables & Power | Hanwha Total Solar II, LLC | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Integrated Gas, Renewables & Power | Hanwha Total Solar, LLC | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Integrated Gas, Renewables & Power | HTS Holdings LLC | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Integrated Gas, Renewables & Power | Hydro Tinee | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Integrated Gas, Renewables & Power | Ichthys LNG PTY Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 26% |
Integrated Gas, Renewables & Power | Ise Total Nanao Power Plant G.K. | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Integrated Gas, Renewables & Power | Jingdan New Energy Investment (Shanghai) Co. Ltd | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Integrated Gas, Renewables & Power | Komundo Offshore Wind Power Co., Ltd | |
Consolidation scope | |
Group interest, equity method (as a percent) | 42.50% |
Integrated Gas, Renewables & Power | La Compagnie Electrique De Bretagne | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Integrated Gas, Renewables & Power | La Metairie Neuve | |
Consolidation scope | |
Group interest, equity method (as a percent) | 25% |
Integrated Gas, Renewables & Power | La Seauve | |
Consolidation scope | |
Group interest, equity method (as a percent) | 40% |
Integrated Gas, Renewables & Power | Les ailes de Taillard | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Integrated Gas, Renewables & Power | Leuret | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Integrated Gas, Renewables & Power | Lorca | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Integrated Gas, Renewables & Power | Luminora Solar 5 | |
Consolidation scope | |
Group interest, equity method (as a percent) | 65% |
Integrated Gas, Renewables & Power | Luminora Solar cuatro, S.L. | |
Consolidation scope | |
Group interest, equity method (as a percent) | 65% |
Integrated Gas, Renewables & Power | Luminora Solar Dos, S.L. | |
Consolidation scope | |
Group interest, equity method (as a percent) | 65% |
Integrated Gas, Renewables & Power | Luminora Solar Tres, S.L. | |
Consolidation scope | |
Group interest, equity method (as a percent) | 65% |
Integrated Gas, Renewables & Power | Maenggoldo Offshore Wind Power Co., Ltd | |
Consolidation scope | |
Group interest, equity method (as a percent) | 42.50% |
Integrated Gas, Renewables & Power | Maxeon Solar Technologies, Pte. Ltd. | |
Consolidation scope | |
Group interest, equity method (as a percent) | 26.66% |
Integrated Gas, Renewables & Power | Missiles & Space Batteries Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Integrated Gas, Renewables & Power | Miyagi Osato Solar Park G.K. | |
Consolidation scope | |
Group interest, equity method (as a percent) | 45% |
Integrated Gas, Renewables & Power | Miyako Kuzakai Solarpark G.K. | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Integrated Gas, Renewables & Power | Mulilo Prieska PV (RF) Proprietary Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 27% |
Integrated Gas, Renewables & Power | National Gas Shipping Company Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 5% |
Integrated Gas, Renewables & Power | Nigeria LNG Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 15% |
Integrated Gas, Renewables & Power | Nouvelle Centrale Eolienne de Lastours | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Integrated Gas, Renewables & Power | Nyk Armateur S.A.S. | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Integrated Gas, Renewables & Power | Offshore Wind Power Ltd | |
Consolidation scope | |
Group interest, equity method (as a percent) | 38.25% |
Integrated Gas, Renewables & Power | Oman LNG, LLC | |
Consolidation scope | |
Group interest, equity method (as a percent) | 5.54% |
Integrated Gas, Renewables & Power | Parc Eolien de Cassini | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Integrated Gas, Renewables & Power | Parc Eolien Des Monts Jumeaux | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Integrated Gas, Renewables & Power | Parc Eolien Du Coupru | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Integrated Gas, Renewables & Power | Parc Eolien du Vilpion | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Integrated Gas, Renewables & Power | Qatar Liquefied Gas Company Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 10% |
Integrated Gas, Renewables & Power | Qatar Liquefied Gas Company Limited (II) | |
Consolidation scope | |
Group interest, equity method (as a percent) | 16.70% |
Integrated Gas, Renewables & Power | Quadrica | |
Consolidation scope | |
Group interest, equity method (as a percent) | 51% |
Integrated Gas, Renewables & Power | Seagreen HoldCo 1 Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 51% |
Integrated Gas, Renewables & Power | Shams Power Company PJSC | |
Consolidation scope | |
Group interest, equity method (as a percent) | 20% |
Integrated Gas, Renewables & Power | Societe Champenoise d'Energie | |
Consolidation scope | |
Group interest, equity method (as a percent) | 16% |
Integrated Gas, Renewables & Power | Societe Economie Mixte Production Energetique Renouvelable | |
Consolidation scope | |
Group interest, equity method (as a percent) | 35.92% |
Integrated Gas, Renewables & Power | Sol Holding, LLC | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Integrated Gas, Renewables & Power | Solar Energies | |
Consolidation scope | |
Group interest, equity method (as a percent) | 65% |
Integrated Gas, Renewables & Power | South Hook LNG Terminal Company Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 8.35% |
Integrated Gas, Renewables & Power | Sunzil | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Integrated Gas, Renewables & Power | Tianneng Saft Energy Joint Stock Company | |
Consolidation scope | |
Group interest, equity method (as a percent) | 40% |
Integrated Gas, Renewables & Power | Total Eren | |
Consolidation scope | |
Group interest, equity method (as a percent) | 29.60% |
Percentage of control in associate or joint venture | 5.80% |
Integrated Gas, Renewables & Power | Total Eren Holding | |
Consolidation scope | |
Group interest, equity method (as a percent) | 33.86% |
Integrated Gas, Renewables & Power | Total Shenergy LNG (Shanghai) Co., Ltd. | |
Consolidation scope | |
Group interest, equity method (as a percent) | 49% |
Integrated Gas, Renewables & Power | Total Strong, LLC | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Integrated Gas, Renewables & Power | Total Tractebel Emirates O & M Company | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Integrated Gas, Renewables & Power | Total Tractebel Emirates Power Company | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Integrated Gas, Renewables & Power | TotalEnergies Renouvelables Nogara | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Integrated Gas, Renewables & Power | TQN Solar Nogara | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Integrated Gas, Renewables & Power | Transportadora de Gas del Mercosur S.A. | |
Consolidation scope | |
Group interest, equity method (as a percent) | 32.68% |
Integrated Gas, Renewables & Power | TSGF SPA | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Integrated Gas, Renewables & Power | Vents D'Oc Centrale D'Energie Renouvelable 17 | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Integrated Gas, Renewables & Power | Vertigo | |
Consolidation scope | |
Group interest, equity method (as a percent) | 25% |
Integrated Gas, Renewables & Power | Yamal LNG | |
Consolidation scope | |
Group interest, equity method (as a percent) | 20.02% |
Integrated Gas, Renewables & Power | Yemen LNG Company Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 39.62% |
Integrated Gas, Renewables & Power | Yunlin Holding Gmbh | |
Consolidation scope | |
Group interest, equity method (as a percent) | 23% |
Refining & Chemicals | Appryl S.N.C | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 50% |
Refining & Chemicals | Atlantic Trading and Marketing Financial Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Atlantic Trading and Marketing Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Balzatex S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Barry Controls Aerospace S.N.C. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | BASF Total Petrochemicals LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 40% |
Refining & Chemicals | Bay Junction Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Borrachas Portalegre Ltda | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | BOU Verwaltungs GmbH | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Catelsa-Caceres S.A.U. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Cie Tunisienne du Caoutchouc S.A.R.L. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Composite Industrie Maroc S.A.R.L. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Composite Industrie S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Cosden, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | COS-MAR Company | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 50% |
Refining & Chemicals | Cray Valley (Guangzhou) Chemical Company, Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Cray Valley Czech | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Cray Valley HSC Asia Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Cray Valley Italia S.R.L. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Cray Valley S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | CSSA - Chartering and Shipping Services S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Espa S.A.R.L. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Ethylene Est | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 99.98% |
Refining & Chemicals | Feluy Immobati | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Fina Pipeline Co | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | FINA Technology, Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Gasket (Suzhou) Valve Components Company, Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Gasket International S.R.L. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Grande Paroisse S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | HBA Hutchinson Brasil Automotive Ltda | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson (UK) Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson (Wuhan) Automotive Rubber Products Company Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson Aeronautique & Industrie Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson Aerospace & Industry Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson Aerospace GmbH | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson Antivibration Systems Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson Automotive Systems Company, Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson Autopartes Mexico S.A. de C.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson Borrachas de Portugal Ltda | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson Corporation | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson d.o.o Ruma | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson Do Brasil S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson Fluid Management Systems Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson GmbH | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson Holding GmbH | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson Holdings UK Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson Iberia S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson Industrial Rubber Products (Suzhou) Company, Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson Industrias Del Caucho SAU | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson Industries Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson Japan Company Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson Korea Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson Malta Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson Maroc S.A.R.L. AU | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson Poland SP ZO.O. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson Polymers S.N.C. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson Porto | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson Precision Sealing Systems Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson Research & Innovation Singapore PTE. Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson Rubber Products Private Limited Inde | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson S.N.C. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson S.R.L. (Italie) | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson S.R.L. (Roumanie) | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson Sales Corporation | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson Seal De Mexico S.A. de CV. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson Sealing Systems Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson SRO | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson Stop - Choc GmbH & CO. KG | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson Suisse S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson Technologies (Maanshan) Co., Ltd. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson Technologies (Shenyang) Co., Ltd. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson Transferencia de Fluidos S.A. de C.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson Tunisie S.A.R.L. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Hutchinson Vietnam Company Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Industrias Tecnicas De La Espuma SL | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Industrielle Desmarquoy S.N.C. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Jehier S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 99.89% |
Refining & Chemicals | Joint Precision Rubber | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | KTN Kunststofftechnik Nobitz GmbH | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Le Joint Francais S.N.C. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Legacy Site Services Funding Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Legacy Site Services LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Les Stratifies S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Lone Wolf Land Company | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Machen Land Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Mide Technology Corporation | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Naphtachimie | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 50% |
Refining & Chemicals | Olutex Oberlausitzer Luftfahrttextilien GmbH | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Pamargan Products Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Paulstra S.N.C. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | PFW Aerospace GmbH | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | PFW Havacilik Sanayi ve Dis Ticaret Limited Sirtketi | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | PFW Uk Machining Ltd. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Polyblend GmbH | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Resilium | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Retia | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Retia USA LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Societe Bearnaise De Gestion Industrielle | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Southeast Texas Pipelines LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 40% |
Refining & Chemicals | Stillman Seal Corporation | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Stop-Choc (UK) Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Synova | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Techlam S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Thermal Control Systems Automotive Sasu | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Total Activites Maritimes | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Total Atlantic Trading Mexico SA De CV | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Total Energy Marketing A/S | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Total Opslag En Pijpleiding Nederland NV | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 55% |
Refining & Chemicals | Total Petrochemicals (Shangai) Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | TotalEnergies Belgium Services | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | TotalEnergies Fluids | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | TotalEnergies Laffan Refinery Holdco | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | TotalEnergies Laffan Refinery Holdco II B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | TotalEnergies Marketing Deutschland GmbH Refining | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | TotalEnergies Olefins Antwerp | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | TotalEnergies Petrochemicals Development Feluy | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | TotalEnergies Petrochemicals Ecaussinnes | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | TotalEnergies Petrochemicals Feluy | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | TotalEnergies Petrochemicals France | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | TotalEnergies Petrochemicals Hong Kong Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | TotalEnergies Petrochemicals Iberica | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | TotalEnergies Petrochemicals UK Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | TotalEnergies Pipeline USA, Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | TotalEnergies Plastic Energy Advanced Recycling S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 60% |
Refining & Chemicals | TotalEnergies Polymers Antwerp | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | TotalEnergies Raffinage Chimie | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | TotalEnergies Raffinage France | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | TotalEnergies Raffinerie Mitteldeutschland GmbH | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | TotalEnergies Refinery Antwerp | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | TotalEnergies Refinery Port Arthur, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | TotalEnergies Refining & Chemicals Arabia | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | TotalEnergies Splitter USA, Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | TotalEnergies Trading Asia Pte. Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | TotalEnergies Trading Canada LP | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | TotalEnergies Trading Europe | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | TotalEnergies Trading Holdings Canada Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | TotalEnergies Trading Products S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | TotalEnergies Trading Storage S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | TOTSA TotalEnergies Trading S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Transalpes S.N.C. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 67% |
Refining & Chemicals | Trans-Ethylene | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 99.98% |
Refining & Chemicals | Vibrachoc S.A.U. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Refining & Chemicals | Zeeland Refinery NV | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 55% |
Refining & Chemicals | Bayport Polymers LLC | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Refining & Chemicals | Buckeye Products Pileline LP | |
Consolidation scope | |
Group interest, equity method (as a percent) | 14.66% |
Refining & Chemicals | Gulf Coast Pipeline LP | |
Consolidation scope | |
Group interest, equity method (as a percent) | 14.66% |
Refining & Chemicals | Hanwha TotalEnergies Petrochemical Co. Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Refining & Chemicals | Laffan Refinery Company Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 10% |
Refining & Chemicals | Laffan Refinery Company Limited 2 | |
Consolidation scope | |
Group interest, equity method (as a percent) | 10% |
Refining & Chemicals | LaPorte Pipeline Company LP | |
Consolidation scope | |
Group interest, equity method (as a percent) | 19.96% |
Refining & Chemicals | LaPorte Pipeline GP LLC | |
Consolidation scope | |
Group interest, equity method (as a percent) | 19.96% |
Refining & Chemicals | Qatar Petrochemical Company Q.S.C. (QAPCO) | |
Consolidation scope | |
Group interest, equity method (as a percent) | 20% |
Refining & Chemicals | Qatofin Company Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 49.08% |
Refining & Chemicals | San Jacinto Rail Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 17% |
Refining & Chemicals | Saudi Aramco Total Refining & Petrochemical Company | |
Consolidation scope | |
Group interest, equity method (as a percent) | 37.50% |
Refining & Chemicals | Societe du Pipeline Sud-Europeen | |
Consolidation scope | |
Group interest, equity method (as a percent) | 35.14% |
Refining & Chemicals | SPA Sonatrach Total Entreprise de Polymeres | |
Consolidation scope | |
Group interest, equity method (as a percent) | 49% |
Refining & Chemicals | Total Corbion PLA B.V. | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Refining & Chemicals | Totseanergy | |
Consolidation scope | |
Group interest, equity method (as a percent) | 49% |
Marketing & Services | Antilles Gaz | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | Argedis | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | AS 24 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | AS24 Belgie N.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | AS24 Espanola S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | AS24 Fuel Cards Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | AS24 Lithuanie | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | AS24 Polska SP ZO.O. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | AS24 Tankservice GmbH | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | BlueCharge Pte. Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | Cristal Marketing Egypt | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 84.62% |
Marketing & Services | Elf Oil UK Aviation Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | Elf Oil UK Properties Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | Fioulmarket.fr | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | Gapco Kenya Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | Gapco Tanzania Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | Guangzhou Elf Lubricants Company Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 77% |
Marketing & Services | Gulf Africa Petroleum Corporation | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | Lubricants Vietnam Holding Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | Progeres S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | Quimica Vasca S.A.U. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | Servauto Nederland B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | Societe d'exploitation de l'usine de Rouen | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 98.98% |
Marketing & Services | Societe mahoraise de stockage de produits petroliers | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | Societe Urbaine des Petroles | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | Stedis | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TEVGO | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing Botswana (Pty) Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 50.10% |
Marketing & Services | Total Bitumen UK Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | Total China Investment Company Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | Total Energies Charging Solutions UK Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | Total Especialidades Argentina | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | Total Jordan PSC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | Total Lubricants (China) Company Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 77% |
Marketing & Services | Total Marketing Tchad | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | Total Marketing Uganda | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | Total Petroleum (Shanghai) Company Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | Total Tianjin Manufacturing Company Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 77% |
Marketing & Services | TotalEnergies Additives and Fuels Solutions | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Aviation | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Aviation Suisse S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Aviation Zambia Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Bitumen Deutschland GmbH | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Charging Services | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Charging Solutions Belgium | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Charging Solutions Deutschland GmbH | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Charging Solutions Nederland B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Diesel Comercio e Transportes Brasil Ltda | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Distribuidora Brasil LTDA | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Distribution Egypt | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 84.62% |
Marketing & Services | TotalEnergies Glass Lubricants Europe GmbH | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Holdings Deutschland GmbH | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies LPG Vietnam Company Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Lubrifiants | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 99.98% |
Marketing & Services | TotalEnergies Lubrifiants Algerie SPA | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 78.90% |
Marketing & Services | TotalEnergies Lubrifiants Service Automobiles | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 99.98% |
Marketing & Services | TotalEnergies Marine Fuels Pte. Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing & Services | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing (Cambodia) Co. Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing (Fiji) Pte Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing (Hubei) Co., Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing African Holdings Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing Afrique | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing Antilles-Guyane | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing Asia-Pacific Middle East Pte. Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing Belgium | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing Burkina | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing Cameroun S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 67.01% |
Marketing & Services | TotalEnergies Marketing Cesk republika S.R.O. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing Congo | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing Corse | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing Cote d'Ivoire | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 72.99% |
Marketing & Services | TotalEnergies Marketing Denmark A/S | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing Egypte | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 84.62% |
Marketing & Services | TotalEnergies Marketing Espana, S.A.U. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | Totalenergies Marketing Eswatini (Pty) Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 50.10% |
Marketing & Services | TotalEnergies Marketing Ethiopia Share Company | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing France | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing Gabon | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 90% |
Marketing & Services | TotalEnergies Marketing Ghana PLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 76.74% |
Marketing & Services | TotalEnergies Marketing Guinea Ecuatorial | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 70% |
Marketing & Services | TotalEnergies Marketing Guinee | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing Holdings Africa | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing Holdings Asia | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing Holdings India | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing India Private Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing Italia SpA | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing Jamaica Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing Kenya PLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 93.96% |
Marketing & Services | TotalEnergies Marketing Lebanon | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing Luxembourg S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing Madagasikara S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 79.44% |
Marketing & Services | TotalEnergies Marketing Malawi Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing Mali | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing Maroc | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 55% |
Marketing & Services | TotalEnergies Marketing Mauritius Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 55% |
Marketing & Services | TotalEnergies Marketing Mayotte | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing Mexico S.A. de C.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing Middle East FZE | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing Mozambique S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing Namibia (Pty) Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 50.10% |
Marketing & Services | TotalEnergies Marketing Nederland NV | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing Nigeria PLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 61.72% |
Marketing & Services | TotalEnergies Marketing Pacifique | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing Polska | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing Polynsie | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing Puerto Rico | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing RDC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 60% |
Marketing & Services | TotalEnergies Marketing Reunion | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing Romania S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing Russia | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing Senegal | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 69.14% |
Marketing & Services | TotalEnergies Marketing South Africa (Pty) Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 50.10% |
Marketing & Services | TotalEnergies Marketing Taiwan Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 63% |
Marketing & Services | TotalEnergies Marketing Tanzania Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing Togo | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 76.72% |
Marketing & Services | TotalEnergies Marketing Tunisie | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing UAE LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing Uganda Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing UK Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing Ukraine | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing USA Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing Vietnam Company Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing Zambia Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Marketing Zimbabwe (Private) Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 80% |
Marketing & Services | TotalEnergies Proxi Nord Est | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Proxi Nord Ouest | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Proxi Sud Est | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Proxi Sud Ouest | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Singapore Services Pte Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Supply Marketing Services S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Turkey Pazarlama A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | TotalEnergies Warme&Kraftstoff Deutschland GmbH | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Marketing & Services | Upbeatprops 100 PTY Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 50.10% |
Marketing & Services | V Energy S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 50% |
Marketing & Services | Aristea | |
Consolidation scope | |
Group interest, equity method (as a percent) | 51% |
Marketing & Services | Arteco | |
Consolidation scope | |
Group interest, equity method (as a percent) | 49.99% |
Marketing & Services | Clean Energy | |
Consolidation scope | |
Group interest, equity method (as a percent) | 19.15% |
Marketing & Services | National Petroleum Refiners Of South Africa (PTY) Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 18.22% |
Marketing & Services | Saudi Total Petroleum Products | |
Consolidation scope | |
Group interest, equity method (as a percent) | 51% |
Marketing & Services | S-OIL TotalEnergies Lubricants Co. Ltd | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Marketing & Services | South Asia LPG Private Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Marketing & Services | Tas'Helat Marketing Company | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Marketing & Services | Total Freeport Corporation | |
Consolidation scope | |
Group interest, equity method (as a percent) | 51% |
Marketing & Services | Total Parco Pakistan Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Marketing & Services | Total Philippines Corporation | |
Consolidation scope | |
Group interest, equity method (as a percent) | 51% |
Marketing & Services | Total Sinochem Oil Company Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 49% |
Marketing & Services | TotalEnergies Marketing Angola S.A. | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Marketing & Services | Trapil | |
Consolidation scope | |
Group interest, equity method (as a percent) | 5.50% |
Marketing & Services | Yangtze Gorges Green Way Charging Technology (Hubei) Co., Ltd. | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50% |
Corporate | Albatros | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | Elf Aquitaine Fertilisants | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | Elf Aquitaine Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | Elf Forest Products LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | Institut Photovoltaique D'Ile De France (IPVF) | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 43% |
Corporate | Omnium Reinsurance Company S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | Pan Insurance Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | Septentrion Participations | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | Socap S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | Societe Civile Immobiliere CB2 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | Sofax Banque | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | Total Energy Investments Tianjin | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | Total Global Services Bucharest | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 99% |
Corporate | Total International NV | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | Total Investment Management Tianjin | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | Total Operations Canada Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | Total Resources (Canada) Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | TotalEnergies (Beijing) Corporate Management Co., Ltd. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | TotalEnergies American Services, Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | TotalEnergies Capital | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | TotalEnergies Capital Canada Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | TotalEnergies Capital International | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | TotalEnergies Consulting | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | TotalEnergies Delaware, Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | TotalEnergies Developpement Regional S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | TotalEnergies Digital Factory | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | TotalEnergies EP Gestion Filiales | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | TotalEnergies Facilities Management Services (TFMS) | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | TotalEnergies Finance | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | TotalEnergies Finance Corporate Services Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | TotalEnergies Finance International B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | TotalEnergies Finance USA, Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | TotalEnergies Funding Nederland B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | TotalEnergies Gestion USA | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | TotalEnergies Global Financial Services | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | TotalEnergies Global Human Resources Services | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | TotalEnergies Global Information Technology Services Belgium | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 99.98% |
Corporate | TotalEnergies Global IT Services (TGITS) | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | TotalEnergies Global Procurement (TGP) | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | TotalEnergies Global Procurement Belgium S.A. (TGPB) | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | TotalEnergies Global Services Philippines Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | TotalEnergies Holding Allemagne | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | TotalEnergies Holdings | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | TotalEnergies Holdings Europe | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | TotalEnergies Holdings UK Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | TotalEnergies Holdings USA, Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | TotalEnergies Investments | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | TotalEnergies Learning Solutions (TLS) | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | TotalEnergies Marketing Holdings Nederland B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | TotalEnergies Marketing Holdings South Africa ZA (Pty) Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | TotalEnergies One Tech Belgium | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | TotalEnergies OneTech | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | TotalEnergies Participations | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | TotalEnergies Petrochemicals & Refining (Holding) | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | TotalEnergies Petrochemicals & Refining USA, Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | TotalEnergies Security USA, Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | TotalEnergies Treasury | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | TotalEnergies Treasury Belgium | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |
Corporate | TotalEnergies UK Finance Ltd | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100% |