Document and Entity Information
Document and Entity Information | 12 Months Ended |
Dec. 31, 2019shares | |
Document and Entity Information | |
Entity Registrant Name | TOTAL S.A. |
Entity Central Index Key | 0000879764 |
Document Type | 20-F |
Document Period End Date | Dec. 31, 2019 |
Amendment Flag | false |
Current Fiscal Year End Date | --12-31 |
Entity Well-known Seasoned Issuer | Yes |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Common Stock, Shares Outstanding | 2,601,881,075 |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
Document Fiscal Year Focus | 2019 |
Document Fiscal Period Focus | FY |
Entity Interactive Data Current | Yes |
Document Annual Report | true |
Document Transition Report | false |
Document Shell Company Report | false |
Document Registration Statement | false |
Consolidated statement of incom
Consolidated statement of income $ in Millions | 12 Months Ended | ||||
Dec. 31, 2019€ / shares | Dec. 31, 2019USD ($)$ / shares | Dec. 31, 2018€ / shares | Dec. 31, 2018USD ($)$ / shares | Dec. 31, 2017USD ($)$ / shares | |
Consolidated statement of income | |||||
Sales | $ 200,316 | $ 209,363 | $ 171,493 | ||
Excise taxes | (24,067) | (25,257) | (22,394) | ||
Revenues from sales | 176,249 | 184,106 | 149,099 | ||
Purchases, net of inventory variation | (116,221) | (125,816) | (99,411) | ||
Other operating expenses | (27,255) | (27,484) | (24,966) | ||
Exploration costs | (785) | (797) | (864) | ||
Depreciation, depletion and impairment of tangible assets and mineral interests | (15,731) | (13,992) | (16,103) | ||
Other income | 1,163 | 1,838 | 3,811 | ||
Other expense | (1,192) | (1,273) | (1,034) | ||
Financial interest on debt | (2,333) | (1,933) | (1,396) | ||
Financial income and expense from cash & cash equivalents | (19) | (188) | (138) | ||
Cost of net debt | (2,352) | (2,121) | (1,534) | ||
Other financial income | 792 | 1,120 | 957 | ||
Other financial expense | (764) | (685) | (642) | ||
Net income (loss) from equity affiliates | 3,406 | 3,170 | 2,015 | ||
Income taxes | (5,872) | (6,516) | (3,029) | ||
Consolidated net income | 11,438 | 11,550 | 8,299 | ||
Group share | 11,267 | 11,446 | 8,631 | ||
Non-controlling interests | $ 171 | $ 104 | $ (332) | ||
Earnings per share (in dollars or Euros per share) | (per share) | € 3.75 | $ 4.20 | € 3.62 | $ 4.27 | $ 3.36 |
Fully-diluted earnings per share (in dollars or Euros per share) | (per share) | € 3.72 | $ 4.17 | € 3.59 | $ 4.24 | $ 3.34 |
Consolidated statement of compr
Consolidated statement of comprehensive income - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Consolidated statement of comprehensive income | |||
Consolidated net income | $ 11,438 | $ 11,550 | $ 8,299 |
Other comprehensive income | |||
Actuarial gains and losses | (192) | (12) | 823 |
Change in fair value of investments in equity instruments | 142 | ||
Tax effect | 53 | 13 | (390) |
Currency translation adjustment generated by the parent company | (1,533) | (4,022) | 9,316 |
Items not potentially reclassifiable to profit and loss | (1,530) | (4,021) | 9,749 |
Currency translation adjustment | 740 | 1,113 | (2,578) |
Available for sale financial assets | 7 | ||
Cash flow hedge | (599) | 25 | 324 |
Variation of foreign currency basis spread | 1 | (80) | |
Share of other comprehensive income of equity affiliates, net amount | 408 | (540) | (677) |
Other | (3) | (5) | |
Tax effect | 202 | 14 | (100) |
Items potentially reclassifiable to profit and loss | 749 | 527 | (3,024) |
Total other comprehensive income (net amount) | (781) | (3,494) | 6,725 |
Comprehensive income | 10,657 | 8,056 | 15,024 |
Group share | 10,418 | 8,021 | 15,312 |
Non-controlling interests | $ 239 | $ 35 | $ (288) |
Consolidated balance sheet
Consolidated balance sheet $ in Millions | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) |
Non-current assets | |||
Intangible assets, net | $ 33,178 | $ 28,922 | $ 14,587 |
Property, plant and equipment, net | 116,408 | 113,324 | 109,397 |
Equity affiliates: investments and loans | 27,122 | 23,444 | 22,103 |
Other investments | 1,778 | 1,421 | 1,727 |
Non-current financial assets | 912 | 680 | 679 |
Deferred income taxes | 6,216 | 6,663 | 5,206 |
Other non-current assets | 2,415 | 2,509 | 3,984 |
Total non-current assets | 188,029 | 176,963 | 157,683 |
Current assets | |||
Inventories, net | 17,132 | 14,880 | 16,520 |
Accounts receivable, net | 18,488 | 17,270 | 14,893 |
Other current assets | 17,013 | 14,724 | 14,210 |
Current financial assets | 3,992 | 3,654 | 3,393 |
Cash and cash equivalents | 27,352 | 27,907 | 33,185 |
Assets classified as held for sale | 1,288 | 1,364 | 2,747 |
Total current assets | 85,265 | 79,799 | 84,948 |
Total assets | 273,294 | 256,762 | 242,631 |
Shareholders' equity | |||
Common shares | 8,123 | 8,227 | 7,882 |
Paid-in surplus and retained earnings | 121,170 | 120,569 | 112,040 |
Currency translation adjustment | (11,503) | (11,313) | (7,908) |
Treasury shares | (1,012) | (1,843) | (458) |
Total shareholders' equity - Group share | 116,778 | 115,640 | 111,556 |
Non-controlling interests | 2,527 | 2,474 | 2,481 |
Total shareholders' equity | 119,305 | 118,114 | 114,037 |
Non-current liabilities | |||
Deferred income taxes | 11,858 | 11,490 | 10,828 |
Employee benefits | 3,501 | 3,363 | 3,735 |
Provisions and other non-current liabilities | 20,613 | 21,432 | 15,986 |
Non-current financial debt | 47,773 | 40,129 | 41,340 |
Total non-current liabilities | 83,745 | 76,414 | 71,889 |
Current liabilities | |||
Accounts payable | 28,394 | 26,134 | 26,479 |
Other creditors and accrued liabilities | 25,749 | 22,246 | 17,779 |
Current borrowings | 14,819 | 13,306 | 11,096 |
Other current financial liabilities | 487 | 478 | 245 |
Liabilities directly associated with the assets classified as held for sale | 795 | 70 | 1,106 |
Total current liabilities | 70,244 | 62,234 | 56,705 |
Total liabilities & shareholders' equity | $ 273,294 | $ 256,762 | $ 242,631 |
Consolidated statement of cash
Consolidated statement of cash flow - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
CASH FLOW FROM OPERATING ACTIVITIES | |||
Consolidated net income | $ 11,438 | $ 11,550 | $ 8,299 |
Depreciation, depletion, amortization and impairment | 16,401 | 14,584 | 16,611 |
Non-current liabilities, valuation allowances, and deferred taxes | (58) | (887) | (384) |
(Gains) losses on disposals of assets | (614) | (930) | (2,598) |
Undistributed affiliates' equity earnings | (1,083) | (826) | 42 |
(Increase) decrease in working capital | (1,718) | 769 | 827 |
Other changes, net | 319 | 443 | (478) |
Cash flow from operating activities | 24,685 | 24,703 | 22,319 |
CASH FLOW USED IN INVESTING ACTIVITIES | |||
Intangible assets and property, plant and equipment additions | (11,810) | (17,080) | (13,767) |
Acquisitions of subsidiaries, net of cash acquired | (4,748) | (3,379) | (800) |
Investments in equity affiliates and other securities | (1,618) | (1,108) | (1,368) |
Increase in non-current loans | (1,061) | (618) | (961) |
Total expenditures | (19,237) | (22,185) | (16,896) |
Proceeds from disposals of intangible assets and property, plant and equipment | 527 | 3,716 | 1,036 |
Proceeds from disposals of subsidiaries, net of cash sold | 158 | 12 | 2,909 |
Proceeds from disposals of non-current investments | 349 | 1,444 | 294 |
Repayment of non-current loans | 1,026 | 2,067 | 1,025 |
Total divestments | 2,060 | 7,239 | 5,264 |
Cash flow used in investing activities | (17,177) | (14,946) | (11,632) |
CASH FLOW FROM FINANCING ACTIVITIES | |||
Issuance (repayment) of shares: Parent company shareholders | 452 | 498 | 519 |
Issuance (repayment) of shares: Treasury shares | (2,810) | (4,328) | |
Dividends paid: Parent company shareholders | (6,641) | (4,913) | (2,643) |
Dividends paid: Non-controlling interests | (115) | (97) | (141) |
Payments on perpetual subordinated notes | (371) | (325) | (276) |
Other transactions with non-controlling interests | 10 | (622) | (4) |
Net issuance (repayment) of non-current debt | 8,131 | 649 | 2,277 |
Increase (decrease) in current borrowings | (5,829) | (3,990) | (7,175) |
Increase (decrease) in current financial assets and liabilities | (536) | (797) | 1,903 |
Cash flow from / (used in) financing activities | (7,709) | (13,925) | (5,540) |
Net increase (decrease) in cash and cash equivalents | (201) | (4,168) | 5,147 |
Effect of exchange rates | (354) | (1,110) | 3,441 |
Cash and cash equivalents at the beginning of the period | 27,907 | 33,185 | 24,597 |
Cash and cash equivalents at the end of the period | $ 27,352 | $ 27,907 | $ 33,185 |
Consolidated statement of chang
Consolidated statement of changes in shareholders' equity - USD ($) $ in Millions | Shareholders' equity - Group 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, 2016 | $ 98,680 | $ 7,604 | $ 105,547 | $ (13,871) | $ (600) | $ 2,894 | $ 101,574 | |
Common shares issued as of the beginning of the period at Dec. 31, 2016 | 2,430,365,862 | (10,587,822) | ||||||
Net income | 8,631 | 8,631 | (332) | 8,299 | ||||
Other comprehensive income | 6,681 | 718 | 5,963 | 44 | 6,725 | |||
Comprehensive income | 15,312 | 9,349 | 5,963 | (288) | 15,024 | |||
Dividend | (6,992) | (6,992) | (141) | (7,133) | ||||
Issuance of common shares | 4,709 | $ 278 | 4,431 | 4,709 | ||||
Issuance of common shares (in shares) | 98,623,754 | |||||||
Sale of treasury shares | [1] | (142) | $ 142 | |||||
Sale of treasury shares (in shares) | [1] | 2,211,066 | ||||||
Share-based payments | 151 | 151 | 151 | |||||
Payments on perpetual subordinated notes | (302) | (302) | (302) | |||||
Other operations with non-controlling interests | (8) | (8) | 4 | (4) | ||||
Other items | 6 | 6 | 12 | 18 | ||||
Equity as of the end of the period at Dec. 31, 2017 | 111,556 | $ 7,882 | 112,040 | (7,908) | $ (458) | 2,481 | 114,037 | |
Common shares issued as of the end of the period at Dec. 31, 2017 | 2,528,989,616 | (8,376,756) | ||||||
Net income | 11,446 | 11,446 | 104 | 11,550 | ||||
Other comprehensive income | (3,425) | (20) | (3,405) | (69) | (3,494) | |||
Comprehensive income | 8,021 | 11,426 | (3,405) | 35 | 8,056 | |||
Dividend | (7,881) | (7,881) | (97) | (7,978) | ||||
Issuance of common shares | 8,842 | $ 476 | 8,366 | 8,842 | ||||
Issuance of common shares (in shares) | 156,203,090 | |||||||
Purchase of treasury shares | (4,328) | $ (4,328) | (4,328) | |||||
Purchase of treasury shares (in shares) | (72,766,481) | |||||||
Sale of treasury shares | [1] | (240) | $ 240 | |||||
Sale of treasury shares (in shares) | [1] | 4,079,257 | ||||||
Share-based payments | 294 | 294 | 294 | |||||
Share cancellation | $ (131) | (2,572) | $ 2,703 | |||||
Share cancellation (in shares) | (44,590,699) | 44,590,699 | ||||||
Payments on perpetual subordinated notes | (315) | (315) | (315) | |||||
Other operations with non-controlling interests | (517) | (517) | (99) | (616) | ||||
Other items | (32) | (32) | 154 | 122 | ||||
Equity as of the end of the period at Dec. 31, 2018 | 115,640 | $ 8,227 | 120,569 | (11,313) | $ (1,843) | 2,474 | 118,114 | |
Common shares issued as of the end of the period at Dec. 31, 2018 | 2,640,602,007 | (32,473,281) | ||||||
Net income | 11,267 | 11,267 | 171 | 11,438 | ||||
Other comprehensive income | (849) | (659) | (190) | 68 | (781) | |||
Comprehensive income | 10,418 | 10,608 | (190) | 239 | 10,657 | |||
Dividend | (7,730) | (7,730) | (115) | (7,845) | ||||
Issuance of common shares | 1,339 | $ 74 | 1,265 | 1,339 | ||||
Issuance of common shares (in shares) | 26,388,503 | |||||||
Purchase of treasury shares | (2,810) | $ (2,810) | (2,810) | |||||
Purchase of treasury shares (in shares) | (52,389,336) | |||||||
Sale of treasury shares | [1] | (219) | $ 219 | |||||
Sale of treasury shares (in shares) | [1] | 4,278,948 | ||||||
Share-based payments | 207 | 207 | 207 | |||||
Share cancellation | $ (178) | (3,244) | $ 3,422 | |||||
Share cancellation (in shares) | (65,109,435) | 65,109,435 | ||||||
Issuance of perpetual subordinated notes | (4) | (4) | (4) | |||||
Payments on perpetual subordinated notes | (353) | (353) | (353) | |||||
Other operations with non-controlling interests | 55 | 55 | (42) | 13 | ||||
Other items | 16 | 16 | (29) | (13) | ||||
Equity as of the end 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 end of the period at Dec. 31, 2019 | 2,601,881,075 | (15,474,234) | 2,601,881,075 | |||||
[1] | Treasury shares related to the restricted stock grants. |
Notes to the Consolidated Finan
Notes to the Consolidated Financial Statements | 12 Months Ended |
Dec. 31, 2019 | |
Notes to the Consolidated Financial Statements | |
Notes to the Consolidated Financial Statements | On February 5, 2020, the Board of Directors established and authorized the publication of the Consolidated Financial Statements of TOTAL S.A. for the year ended December 31, 2019, which will be submitted for approval to the Shareholders’ Meeting to be held on May 29, 2020. Basis of preparation of the consolidated financial statements The Consolidated Financial Statements of TOTAL S.A. and its subsidiaries (the Group) 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, 2019. The accounting principles applied for the consolidated financial statements at December 31, 2019, were the same as those that were used for the financial statements at December 31, 2018, with the exception of those texts or amendments that must be applied for periods beginning January 1, 2019. Ø First-time application of IFRS 16 "Leases" As part of the first application of IFRS 16 "Leases" as of January 1, 2019, the Group: - - o o - recognized each lease component as a separate lease, separately from non-lease components of the lease (services); - The impact of the application of this standard as at January 1, 2019 is $5,698 million on fixed assets, $(5,505) million on net debt and $(193) million on other assets and liabilities. The weighted average incremental borrowing rate of 4.5% at transition date was determined on the basis of the initial duration of the contracts. The impact on fixed assets is broken down as follows: (in M$) Right of use of buildings 2,278 Right of use of machinery, plant and equipment (including transportation equipment) 2,632 Other right of use 788 Total 5,698 Other information related to the application of IFRS 16 "Leases" are presented in note 13.2 "Leases". Further to the review of leases entered into as part of joint operations, in accordance with the IFRS Interpretations Committee (IFRIC) decision, all liabilities related to such leases have been recognized as at September 30, 2019 when the group has primary responsibility of the lease payments. When the right of use of the asset is jointly controlled by the group and the other partners, a financial receivable has been recognized for the portion of the asset transferred to the partners. Ø First-time application of IFRIC 23, “Uncertainty over Income Tax Treatments” The Group applied IFRIC 23 “Uncertainty over Income Tax Treatments” as of January 1 st 2019. IFRIC 23 clarifies application of the recognition, measurement and presentation of IAS 12 “Income Taxes” provisions, when there is uncertainty over income tax treatments under that standard. The effect of the first application of the standard on the Group’s financial statements, as at January 1, 2019, is non-material. Major judgments and accounting estimates The preparation of financial statements in accordance with IFRS for the closing as of December 31, 2019 requires the executive 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 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 the Group to account for its oil and gas activities. The Group’s oil and gas reserves are estimated by the Group’s petroleum engineers in accordance with industry standards and SEC ( U.S. Securities and Exchange Commission) regulations. 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. The Group 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 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 (IAS36), the estimates, assumptions and judgments mainly concern hydrocarbon prices scenarios, operating costs, production volumes and oil and gas proved 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. Asset impairment and the method applied are described in Note 3 “Business segment information”. 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 Group 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 based on taxable profits existing at the closing date 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 the Group 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”. 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. |
General accounting policies
General accounting policies | 12 Months Ended |
Dec. 31, 2019 | |
General accounting policies | |
Accounting policies | 1) General accounting policies 1.1) Accounting policies 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. The Group accounts for joint operations by recognizing its share of assets, liabilities, income and expenses. Investments in associates, in which the Group has significant influence, are accounted for by the equity method. Significant influence is presumed when the Group 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 the Company 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 the Group at their fair value. The value of the purchase price 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 the Group's 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 1st July 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 the Group 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 the Group share) or under “Non-controlling interests” (for the share of non-controlling interests) as deemed appropriate. 1.2) Significant accounting policies applicable in the future 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, 2019, are as follows: Ø Standards not yet adopted by the European Union at December 31, 2019 In September 2019, the IASB published an amendment to IFRS9, IAS39 and IFRS7 in response to the IBOR reform applicable as of January 1, 2020. As at December 31, 2019, IBOR rates are still reference rates on the financial markets and are used for the measurement of financial instruments with maturity dates exceeding the expected replacement date of those rates. As at December 31, 2019, the Group considers that the current market structure justifies the continuity of hedge accounting. |
Changes in the Group structure
Changes in the Group structure | 12 Months Ended |
Dec. 31, 2019 | |
Changes in the Group structure | |
Changes in the Group structure | 2) Changes in the Group structure 2.1) Main acquisitions and divestments In 2019, the main changes in the Group structure were as follows: Ø Integrated Gas, Renewables & Power · On March 4, 2019, Total and Novatek signed a definitive agreement for the acquisition of a 10% direct interest by Total in Arctic LNG 2, a major liquefied natural gas development led by Novatek on the Gydan Peninsula, Russia. · On March 15, 2019, TOTAL finalized the sale of 4% of its interest in the Ichthys liquefied natural gas (LNG) project in Australia to operating partner INPEX, reducing its interest in the project from 30% to 26%. · On August 30, 2019, TOTAL finalized an agreement with Toshiba to take over its portfolio of liquefied natural gas (LNG) in the United States. This portfolio includes a 20-year tolling agreement and the corresponding gas transportation agreements. Under the transaction, TOTAL acquired all the shares of Toshiba America LNG corporation and was assigned all contracts related to their LNG business by Toshiba Energy Systems and Solutions Corp , and received $815 million considering the risks of loss of the portfolio. · On September 30, 2019, TOTAL finalized the acquisition of Anadarko’s 26.5% interest in the Mozambique LNG project under the agreement with Occidental on May 3, 2019, to acquire Anadarko’s assets in Africa (Mozambique, Algeria, Ghana and South Africa). Ø Exploration & Production · On April 1, 2019, Total acquired all the share capital of Chevron Denmark Inc. which holds a 12% interest in the Danish Underground Consortium (DUC), a 12% interest in Licence 8/06, and a 7.5% interest in the Tyra West pipeline. The acquisition increased TOTAL’s operated share of DUC from 31.2% to 43.2%. 2.2) Major business combinations Accounting policies In accordance with IFRS 3 “Business combinations”, TOTAL 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 Integrated Gas, Renewables & Power Anadarko Mozambique On September 30, 2019, the Group acquired 100% of the shares of Anadarko Mozambique affiliate which holds a 26.5% interest in the Mozambique LNG project for a purchase price of $4,426 million and recorded a preliminary goodwill for an amount of $136 million at 31 December 2019. The preliminary purchase price allocation is shown below: (M$) At the acquisition date Goodwill 136 Intangible assets 3,751 Tangible assets 767 Other assets and liabilities (309) Acquired cash 81 Fair value of consideration 4,426 2.3) Divestment projects Accounting policies 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”. Ø Exploration & Production · On July 10, 2019, TOTAL announced the signature of an agreement to divest several UK non-core assets to Petrogas NEO UK Ltd. The overall consideration for this deal amounts to $635 million. The transaction remains subject to approval from the relevant authorities. At December 31, 2019, the assets and liabilities have been respectively classified in the consolidated balance sheet in "assets classified as held for sale" for an amount of $449 million and "liabilities directly associated with the assets classified as held for sale" for an amount of $349 million. The assets concerned mainly include intangible and tangible assets. · On October 30, 2019, TOTAL has signed an agreement to sell wholly owned subsidiary Total E&P Deep Offshore Borneo BV which holds an 86.95% interest in Block CA1, located 100 kilometers off the coast of Brunei, to Shell. The overall consideration for this deal amounts to $300 million. The transaction remains subject to approval from the relevant authorities. At December 31, 2019, the assets and liabilities have been respectively classified in the consolidated balance sheet in "assets classified as held for sale" for an amount of $433 million and "liabilities directly associated with the assets classified as held for sale" for an amount of $180 million. The assets concerned mainly include tangible assets. |
Business segment information
Business segment information | 12 Months Ended |
Dec. 31, 2019 | |
Business segment information | |
Business segment information | 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 TOTAL and which is reviewed by the main operational decision-making body of the Group, 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 profitable growth in the gas and low carbon electricity integrated value chains is one of the key axes of TOTAL’s strategy. In order to give more visibility to these businesses, a new reporting structure for the business segments’ financial information has been put in place, effective January 1, 2019. The organization of the Group's activities is structured around the four followings segments: - An Exploration & Production segment; - An Integrated Gas, Renewables & Power segment comprising integrated gas (including LNG) and low carbon electricity businesses. It includes the upstream and midstream LNG activity that was previously reported in the EP segment; - 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. Certain figures for the years 2017 and 2018 have been restated in order to reflect the new organization. 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, equity in income of 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 Group 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 some transactions differences between internal measure of performance used by TOTAL’s management 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. Furthermore, TOTAL, in its trading activities, enters into storage contracts, which future effects are recorded at fair value in the Group’s internal economic performance. IFRS precludes recognition of this fair value effect. A) Information by business segment Integrated Exploration Gas, Refining Marketing For the year ended December 31, 2019 & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total Non-Group sales 7,261 18,167 87,598 87,280 10 — 200,316 Intersegment sales 31,329 2,825 32,390 659 125 (67,328) — Excise taxes — — (3,015) (21,052) — — (24,067) Revenues from sales 38,590 20,992 116,973 66,887 135 (67,328) 176,249 Operating expenses (16,389) (18,316) (112,104) (63,855) (925) 67,328 (144,261) Depreciation, depletion and impairment of tangible assets and mineral interests (11,659) (1,492) (1,527) (980) (73) — (15,731) Operating income 10,542 1,184 3,342 2,052 (863) — 16,257 Net income (loss) from equity affiliates and other items 610 2,330 322 101 42 — 3,405 Tax on net operating income (4,572) (741) (470) (598) 155 — (6,226) Net operating income 6,580 2,773 3,194 1,555 (666) — 13,436 Net cost of net debt (1,998) Non-controlling interests (171) Net income - group share 11,267 Integrated For the year ended December 31, 2019 Exploration Gas, Refining Marketing (adjustments) (a) & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total Non-Group sales — (64) — — — — (64) Intersegment sales — — — — — — — Excise taxes — — — — — — — Revenues from sales — (64) — — — — (64) Operating expenses (145) (240) 397 (40) (112) — (140) Depreciation, depletion and impairment of tangible assets and mineral interests (721) (156) (41) (2) — — (920) Operating income (b) (866) (460) 356 (42) (112) — (1,124) Net income (loss) from equity affiliates and other items (112) 974 (83) (83) — — 696 Tax on net operating income 49 (130) (82) 27 (73) — (209) Net operating income (b) (929) 384 191 (98) (185) — (637) Net cost of net debt (15) Non-controlling interests 91 Net income - group share (561) (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. (b) Of which inventory valuation effect On operating income — — 477 (31) — On net operating income — — 371 (14) — Integrated For the year ended December 31, 2019 Exploration Gas, Refining Marketing (adjusted) & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total Non-Group sales 7,261 18,231 87,598 87,280 10 — 200,380 Intersegment sales 31,329 2,825 32,390 659 125 (67,328) — Excise taxes — — (3,015) (21,052) — — (24,067) Revenues from sales 38,590 21,056 116,973 66,887 135 (67,328) 176,313 Operating expenses (16,244) (18,076) (112,501) (63,815) (813) 67,328 (144,121) Depreciation, depletion and impairment of tangible assets and mineral interests (10,938) (1,336) (1,486) (978) (73) — (14,811) Adjusted operating income 11,408 1,644 2,986 2,094 (751) — 17,381 Net income (loss) from equity affiliates and other items 722 1,356 405 184 42 — 2,709 Tax on net operating income (4,621) (611) (388) (625) 228 — (6,017) Adjusted net operating income 7,509 2,389 3,003 1,653 (481) — 14,073 Net cost of net debt (1,983) Non-controlling interests (262) Adjusted net income - group share 11,828 Integrated For the year ended December 31, 2019 Exploration Gas, Refining Marketing (M$) & Renewables & & Production & Power Chemicals Services Corporate Intercompany Total Total expenditures 8,992 7,053 1,698 1,374 120 19,237 Total divestments 368 1,108 322 249 13 2,060 Cash flow from operating activities 16,917 3,461 3,837 2,604 (2,134) 24,685 Balance sheet as of December 31, 2019 Property, plant and equipment, intangible assets, net 98,894 29,597 12,196 8,316 583 149,586 Investments & loans in equity affiliates 7,631 15,271 3,787 433 — 27,122 Other non-current assets 4,484 2,993 744 1,179 1,009 10,409 Working capital 2,617 (1,192) 796 178 (3,909) (1,510) Provisions and other non-current liabilities (25,208) (5,488) (3,898) (1,531) 153 (35,972) Assets and liabilities classified as held for sale 426 368 — — — 794 Capital Employed (Balance sheet) 88,844 41,549 13,625 8,575 (2,164) 150,429 Less inventory valuation effect — — (1,397) (204) — (1,601) Capital Employed (Business segment information) 88,844 41,549 12,228 8,371 (2,164) 148,828 ROACE as a percentage 8 % 6 % 26 % 22 % 10 % Integrated For the year ended December 31, 2018 Exploration Gas, Refining Marketing (M$) & Renewables & & Production & Power Chemicals Services Corporate Intercompany Total Non-Group sales 9,889 17,236 92,025 90,206 7 — 209,363 Intersegment sales 30,337 2,198 35,462 979 64 (69,040) — Excise taxes — — (3,359) (21,898) — — (25,257) Revenues from sales 40,226 19,434 124,128 69,287 71 (69,040) 184,106 Operating expenses (17,532) (17,679) (120,393) (66,737) (796) 69,040 (154,097) Depreciation, depletion and impairment of tangible assets and mineral interests (10,192) (1,827) (1,222) (709) (42) — (13,992) Operating income 12,502 (72) 2,513 1,841 (767) — 16,017 Net income (loss) from equity affiliates and other items 1,365 1,639 782 307 77 — 4,170 Tax on net operating income (5,770) (471) (445) (532) 375 — (6,843) Net operating income 8,097 1,096 2,850 1,616 (315) — 13,344 Net cost of net debt (1,794) Non-controlling interests (104) Net income - group share 11,446 Integrated For the year ended December 31, 2018 Exploration Gas, Refining Marketing (adjustments) (a) & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total Non-Group sales — 56 — — — — 56 Intersegment sales — — — — — — — Excise taxes — — — — — — — Revenues from sales — 56 — — — — 56 Operating expenses (199) (237) (616) (45) (9) — (1,106) Depreciation, depletion and impairment of tangible assets and mineral interests (707) (1,065) (2) — — — (1,774) Operating income (b) (906) (1,246) (618) (45) (9) — (2,824) Net income (loss) from equity affiliates and other items (128) (247) (116) (5) — — (496) Tax on net operating income 584 170 205 14 — — 973 Net operating income (b) (450) (1,323) (529) (36) (9) — (2,347) Net cost of net debt (67) Non-controlling interests 301 Net income - group share (2,113) (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. (b) Of which inventory valuation effect On operating income — — (589) (6) — On net operating income — — (413) (5) — Integrated For the year ended December 31, 2018 Exploration Gas, Refining Marketing (adjusted) & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total Non-Group sales 9,889 17,180 92,025 90,206 7 — 209,307 Intersegment sales 30,337 2,198 35,462 979 64 (69,040) — Excise taxes — — (3,359) (21,898) — — (25,257) Revenues from sales 40,226 19,378 124,128 69,287 71 (69,040) 184,050 Operating expenses (17,333) (17,442) (119,777) (66,692) (787) 69,040 (152,991) Depreciation, depletion and impairment of tangible assets and mineral interests (9,485) (762) (1,220) (709) (42) — (12,218) Adjusted operating income 13,408 1,174 3,131 1,886 (758) — 18,841 Net income (loss) from equity affiliates and other items 1,493 1,886 898 312 77 — 4,666 Tax on net operating income (6,354) (641) (650) (546) 375 — (7,816) Adjusted net operating income 8,547 2,419 3,379 1,652 (306) — 15,691 Net cost of net debt (1,727) Non-controlling interests (405) Ajusted net income - group share 13,559 Integrated For the year ended December 31, 2018 Exploration Gas, Refining Marketing (M$) & Renewables & & Production & Power Chemicals Services Corporate Intercompany Total Total expenditures 13,789 5,032 1,781 1,458 125 — 22,185 Total divestments 3,674 2,209 919 428 9 — 7,239 Cash flow from operating activities 18,537 596 4,308 2,759 (1,497) — 24,703 Balance sheet as of December 31, 2018 Property, plant and equipment, intangible assets, net 100,997 24,023 10,493 6,343 390 — 142,246 Investments & loans in equity affiliates 6,754 12,349 3,910 431 — — 23,444 Other non-current assets 4,780 3,114 663 1,155 881 — 10,593 Working capital 1,911 420 32 194 (4,064) — (1,507) Provisions and other non-current liabilities (25,042) (6,288) (3,615) (1,465) 125 — (36,285) Assets and liabilities classified as held for sale — 1,128 151 — — — 1,279 Capital Employed (Balance sheet) 89,400 34,746 11,634 6,658 (2,668) — 139,770 Less inventory valuation effect — — (1,035) (216) — — (1,251) Capital Employed (Business segment information) 89,400 34,746 10,599 6,442 (2,668) — 138,519 ROACE as a percentage 10 % 7 % 31 % 25 % 12 % Integrated Exploration Gas, Refining Marketing For the year ended December 31, 2017 & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total Non-Group sales 6,527 14,804 75,505 74,634 23 — 171,493 Intersegment sales 21,956 1,679 26,844 857 374 (51,710) — Excise taxes — — (3,008) (19,386) — — (22,394) Revenues from sales 28,483 16,483 99,341 56,105 397 (51,710) 149,099 Operating expenses (13,582) (14,536) (94,097) (53,629) (1,107) 51,710 (125,241) Depreciation, depletion and impairment of tangible assets and mineral interests (12,611) (1,721) (1,074) (657) (40) — (16,103) Operating income 2,290 226 4,170 1,819 (750) — 7,755 Net income (loss) from equity affiliates and other items 657 920 2,979 497 54 — 5,107 Tax on net operating income (1,836) (537) (944) (561) 540 — (3,338) Net operating income 1,111 609 6,205 1,755 (156) — 9,524 Net cost of net debt (1,225) Non-controlling interests 332 Net income - group share 8,631 Integrated For the year ended December 31, 2017 Exploration Gas, Refining Marketing (adjustments) (a) & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total Non-Group sales — (20) — — — — (20) Intersegment sales — — — — — — — Excise taxes — — — — — — — Revenues from sales — (20) — — — — (20) Operating expenses (119) (389) 167 (11) (64) — (416) Depreciation, depletion and impairment of tangible assets and mineral interests (3,799) (800) (53) (10) — — (4,662) Operating income (b) (3,918) (1,209) 114 (21) (64) — (5,098) Net income (loss) from equity affiliates and other items (201) (243) 2,177 102 — — 1,835 Tax on net operating income 689 132 124 (2) (114) — 829 Net operating income (b) (3,430) (1,320) 2,415 79 (178) — (2,434) Net cost of net debt (29) Non-controlling interests 516 Net income - group share (1,947) (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. (b) Of which inventory valuation effect On operating income — — 344 13 — On net operating income — — 298 (3) — Integrated For the year ended December 31, 2017 Exploration Gas, Refining Marketing (adjusted) & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total Non-Group sales 6,527 14,824 75,505 74,634 23 — 171,513 Intersegment sales 21,956 1,679 26,844 857 374 (51,710) — Excise taxes — — (3,008) (19,386) — — (22,394) Revenues from sales 28,483 16,503 99,341 56,105 397 (51,710) 149,119 Operating expenses (13,463) (14,147) (94,264) (53,618) (1,043) 51,710 (124,825) Depreciation, depletion and impairment of tangible assets and mineral interests (8,812) (921) (1,021) (647) (40) — (11,441) Adjusted operating income 6,208 1,435 4,056 1,840 (686) — 12,853 Net income (loss) from equity affiliates and other items 858 1,163 802 395 54 — 3,272 Tax on net operating income (2,525) (669) (1,068) (559) 654 — (4,167) Adjusted net operating income 4,541 1,929 3,790 1,676 22 — 11,958 Net cost of net debt (1,196) Non-controlling interests (184) Adjusted net income - group share 10,578 Integrated For the year ended December 31, 2017 Exploration Gas, Refining Marketing (M$) & Renewables & & Production & Power Chemicals Services Corporate Intercompany Total Total expenditures 10,005 3,594 1,734 1,457 106 — 16,896 Total divestments 1,793 198 2,820 413 40 — 5,264 Cash flow from operating activities (*) 10,719 3,157 7,411 2,221 (1,189) — 22,319 Balance sheet as of December 31, 2017 Property, plant and equipment, intangible assets, net 87,225 19,287 10,820 6,253 399 — 123,984 Investments & loans in equity affiliates 6,954 10,701 4,010 438 — — 22,103 Other non-current assets 5,480 3,204 677 1,060 496 — 10,917 Working capital 3,749 (403) 876 792 (3,650) — 1,365 Provisions and other non-current liabilities (22,372) (2,687) (3,839) (1,544) (106) — (30,549) Assets and liabilities classified as held for sale 1,475 — — 166 — — 1,641 Capital Employed (Balance sheet) 82,511 30,102 12,544 7,165 (2,861) — 129,461 Less inventory valuation effect — — (1,499) (236) 1 — (1,734) Capital Employed (Business segment information) 82,511 30,102 11,045 6,929 (2,860) — 127,727 ROACE as a percentage 5 % 7 % 33 % 26 % 9 % (*) As of January 1st, 2018, for a better reflection of the operating performance of the segments, financial expenses were all transferred to the Corporate segment. 2017 comparative information has been restated. B) Reconciliation of the information by business segment with Consolidated Financial Statements The table below presents the impact of adjustment items on the consolidated statement of income: Consolidated For the year ended December 31, 2019 statement of (M$) Adjusted Adjustments (a) income Sales 200,380 (64) 200,316 Excise taxes (24,067) — (24,067) Revenues from sales 176,313 (64) 176,249 Purchases, net of inventory variation (116,464) 243 (116,221) Other operating expenses (26,872) (383) (27,255) Exploration costs (785) — (785) Depreciation, depletion and impairment of tangible assets and mineral interests (14,811) (920) (15,731) Other income 876 287 1,163 Other expense (455) (737) (1,192) Financial interest on debt (2,318) (15) (2,333) Financial income and expense from cash & cash equivalents (19) — (19) Cost of net debt (2,337) (15) (2,352) Other financial income 792 — 792 Other financial expense (764) — (764) Net income (loss) from equity affiliates 2,260 1,146 3,406 Income taxes (5,663) (209) (5,872) Consolidated net income 12,090 (652) 11,438 Group share 11,828 (561) 11,267 Non-controlling interests 262 (91) 171 (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. Consolidated For the year ended December 31, 2018 statement of (M$) Adjusted Adjustments (a) income Sales 209,307 56 209,363 Excise taxes (25,257) — (25,257) Revenues from sales 184,050 56 184,106 Purchases, net of inventory variation (125,134) (682) (125,816) Other operating expenses (27,060) (424) (27,484) Exploration costs (797) — (797) Depreciation, depletion and impairment of tangible assets and mineral interests (12,218) (1,774) (13,992) Other income 1,518 320 1,838 Other expense (448) (825) (1,273) Financial interest on debt (1,866) (67) (1,933) Financial income and expense from cash & cash equivalents (188) — (188) Cost of net debt (2,054) (67) (2,121) Other financial income 1,120 — 1,120 Other financial expense (685) — (685) Net income (loss) from equity affiliates 3,161 9 3,170 Income taxes (7,489) 973 (6,516) Consolidated net income 13,964 (2,414) 11,550 Group share 13,559 (2,113) 11,446 Non-controlling interests 405 (301) 104 (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. Consolidated For the year ended December 31, 2017 statement of (M$) Adjusted Adjustments (a) income Sales 171,513 (20) 171,493 Excise taxes (22,394) — (22,394) Revenues from sales 149,119 (20) 149,099 Purchases, net of inventory variation (99,534) 123 (99,411) Other operating expenses (24,427) (539) (24,966) Exploration costs (864) — (864) Depreciation, depletion and impairment of tangible assets and mineral interests (11,441) (4,662) (16,103) Other income 772 3,039 3,811 Other expense (389) (645) (1,034) Financial interest on debt (1,367) (29) (1,396) Financial income and expense from cash & cash equivalents (138) — (138) Cost of net debt (1,505) (29) (1,534) Other financial income 957 — 957 Other financial expense (642) — (642) Net income (loss) from equity affiliates 2,574 (559) 2,015 Income taxes (3,858) 829 (3,029) Consolidated net income 10,762 (2,463) 8,299 Group share 10,578 (1,947) 8,631 Non-controlling interests 184 (516) (332) (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 2019 consist of the "Asset impairment charges" of the non-current assets amounting to $(920) million in operating income and $(465) million in net income Group share. Impairment testing methodology and asset impairment charges recorded during the year are detailed in the paragraph D of Note 3. Adjustments to operating income Integrated Exploration Gas, For the year ended December 31, 2019 & Renewables Refining & Marketing & (M$) Production & Power Chemicals Services Corporate Total Inventory valuation effect — — 477 (31) — 446 Effect of changes in fair value — (19) — — — (19) Restructuring charges — (4) — — — (4) Asset impairment charges (721) (156) (41) (2) — (920) Other items (145) (281) (80) (9) (112) (627) Total (866) (460) 356 (42) (112) (1,124) Adjustments to net income, Group share Integrated Exploration Gas, For the year ended December 31, 2019 & Renewables Refining & Marketing & (M$) Production & Power Chemicals Services Corporate Total Inventory valuation effect — — 369 (23) — 346 Effect of changes in fair value — (15) — — — (15) Restructuring charges (5) (31) (22) — — (58) Asset impairment charges (530) 105 (39) (1) — (465) Gains (losses) on disposals of assets — — — — — — Other items (405) 422 (119) (82) (185) (369) Total (940) 481 189 (106) (185) (561) Adjustments to operating income Integrated Exploration Gas, For the year ended December 31, 2018 & Renewables Refining & Marketing & (M$) Production & Power Chemicals Services Corporate Total Inventory valuation effect — — (589) (6) — (595) Effect of changes in fair value — 48 — — — 48 Restructuring charges (67) — (3) — — (70) Asset impairment charges (707) (1,065) (2) — — (1,774) Other items (132) (229) (24) (39) (9) (433) Total (906) (1,246) (618) (45) (9) (2,824) Adjustments to net income, Group share Integrated Exploration Gas, For the year ended December 31, 2018 & Renewables Refining & Marketing & (M$) Production & Power Chemicals Services Corporate Total Inventory valuation effect — — (414) (6) — (420) Effect of changes in fair value — 38 — — — 38 Restructuring charges (94) (10) (34) — — (138) Asset impairment charges (651) (896) (48) — — (1,595) Gains (losses) on disposals of assets (14) (2) — — — (16) Other items 252 (112) (34) (47) (41) 18 Total (507) (982) (530) (53) (41) (2,113) Adjustments to operating income Integrated Exploration Gas, For the year ended December 31, 2017 & Renewables Refining & Marketing & (M$) Production & Power Chemicals Services Corporate Total Inventory valuation effect — — 344 13 — 357 Effect of changes in fair value — (20) — — — (20) Restructuring charges (42) — (4) (3) — (49) Asset impairment charges (3,799) (800) (53) (10) — (4,662) Other items (77) (389) (173) (21) (64) (724) Total (3,918) (1,209) 114 (21) (64) (5,098) Adjustments to net income, Group share Integrated Exploration Gas, For the year ended December 31, 2017 & Renewables Refining & Marketing & (M$) Production & Power Chemicals Services Corporate Total Inventory valuation effect — — 295 (13) — 282 Effect of changes in fair value — (16) — — — (16) Restructuring charges (11) (11) (42) (2) — (66) Asset impairment charges (3,202) (619) (53) (10) — (3,884) Gains (losses) on disposals of assets 188 — 2,139 125 — 2,452 Other items (218) (362) 73 (30) (178) (715) Total (3,243) (1,008) 2,412 70 (178) (1,947) 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 2019, asset impairments were recorded for an amount of $(920) million in operating income and $(465) million in net income, Group share. These impairments were qualified as adjustment items of the operating income and net income, Group 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. The principles applied are as follows: - The future cash flows were determined using the assumptions included in the 2020 budget and in the long-term plan of the Group approved by the Group Executive Committee and the Board of Directors. These assumptions, including in particular operational costs, estimation of oil and gas reserves, future volumes produced and marketed, represent the best estimate from the Group management of economic and technical conditions over the remaining life of the assets; - The Group, notably relying on data on global energy demand from the “World Energy Outlook” issued by the IEA since 2016, and on its own supply assessments, determines the oil & gas prices scenarios based on assumptions about the evolution of core indicators of the Upstream activity (demand for oil & gas products 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 and Climate Division, are also reviewed by the Group 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 2019 World Energy Outlook anticipates three scenarios (Stated Policies Scenario (SPS), Current Policies Scenario (CPS) and Sustainable Development Scenario (SDS)). Among these scenarios, the SPS (central scenario of the IEA) for the short/mid term and the SDS for the mid/long term are important references for the Group. The Group therefore establishes its long-term price trajectory in line with the IEA's SDS scenario, which is compatible with the Paris Agreement, and foresees oil prices converging towards $50 2018 per barrel by 2050. The SPS takes into account the measures already implemented by countries in the energy area as well as the effects of the policies announced by Governments (including the Nationally Determined Contributions - NDC – of the Paris Climate Agreement). The SDS takes into account necessary measures to achieve a temperature rise of less than 2°C compared to pre-industrial levels and the energy-related goals set in the “2030 Agenda for Sustainable Development” adopted in 2015 by the UN members. The oil and gas price trajectories adopted by the Group are based on the following assumptions: Oil demand should continue to grow in the medium term, in a context of sustained growth in global energy demand and despite the gradual electrification of transport and efficiency gains in thermal engines. Crude oil prices would then follow a downward trajectory from 2030 onwards to converge towards $50 2018/b in 2050, due to the impact on demand of policies compatible with the Paris agreement and the production potential of certain major producing countries (US, Saudi Arabia, Brazil, Russia, etc.). Natural gas demand would also be driven by its substitution to coal in power generation and its role as an alternative source to mitigate the intermittent use of renewable energies. The abundant global supply and the growth of liquefied natural gas would, however, limit the potential for higher gas prices. In this context, given the need for the industry to make very substantial investments to cope with the natural decline of the fields, and meet the oil demand predicted by these scenarios over the next 20 years and given the slowdown in investment observed since 2015 in the oil and gas industry: o The crude oil price level considered to determine the recoverable value of CGUs increases from $64 2018 per barrel of Brent in 2019 to $70 2018 in 2025, and would remain stable for the following five years. Afterwards, the price decreases to reach $50 2018 in 2050, in line with the IEA's SDS scenario, o As for gas, the price level considered to determine the recoverable value of CGUs stabilizes in the long term at approximately $6 2018 /MBTU for the NBP price (Europe ) and $2.6 2018 /MBTU for the Henry Hub price (United States). - The future operational costs were determined by taking into account the existing technologies, the fluctuation of prices for petroleum services in line with market developments and the internal cost reduction programs effectively implemented; - The future cash flows are estimated over a period consistent with the life of the assets of the CGUs. They are prepared post-tax and take into account specific risks related to the CGUs' assets. They are discounted using a 7% post-tax discount rate, this rate being the weighted-average cost of capital estimated from historical market data. This rate was 7% in 2018 and 2017. The value in use calculated by discounting the above post-tax cash flows using a 7% post-tax discount rate is not materially different from the value in use calculated by discou |
Segment Information by geograph
Segment Information by geographical area | 12 Months Ended |
Dec. 31, 2019 | |
Segment Information by geographical area | |
Segment Information by geographical area | 4) Segment Information by geographical area Rest of North Rest of (M$) France Europe America Africa the world Total For the year ended December 31, 2019 Non-Group sales 43,877 99,176 19,946 21,303 16,014 200,316 Property, plant and equipment, intangible assets, net 13,212 28,765 18,916 45,573 43,120 149,586 Capital expenditures 1,979 3,201 1,748 7,663 4,646 19,237 For the year ended December 31, 2018 Non-Group sales 47,716 99,465 22,243 22,263 17,676 209,363 Property, plant and equipment, intangible assets, net 12,561 25,262 18,903 43,359 42,161 142,246 Capital expenditures 4,502 2,609 2,014 4,838 8,222 22,185 For the year ended December 31, 2017 Non-Group sales 39,032 83,255 16,889 17,581 14,736 171,493 Property, plant and equipment, intangible assets, net 6,397 18,260 18,469 42,849 38,009 123,984 Capital expenditures 1,193 2,805 2,916 5,030 4,952 16,896 |
Main items related to operating
Main items related to operating activities | 12 Months Ended |
Dec. 31, 2019 | |
Main items related to operating activities | |
Main items related to operating activities | 5) Main items related to operating activities Items related to the statement of income 5.1) Net sales Accounting policies 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 the Group 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 the Group 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 the Group 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. Quantities delivered that represent production royalties and taxes, when paid in cash, are included in oil and gas 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 sales. Exchanges of crude oil and petroleum products within normal trading activities do not generate any income and therefore these flows 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 the Group and the customer. Income related to the distribution of electricity and gas are not recognized in revenues because the Group acts as an agent in this transaction. The Group 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 the Group to determine that it was acting as principal in these transactions. Therefore sales include excise taxes collected by the Group within the course of its oil distribution operations. Excise taxes are deducted from sales in order to obtain the “Revenues from sales” indicator. 5.2) Operating expenses and research and development Accounting policies The Group 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$) Purchases, net of inventory variation (a) (b) (116,221) (125,816) (99,411) Exploration costs (785) (797) (864) Other operating expenses (c) (27,255) (27,484) (24,966) of which non-current operating liabilities (allowances) reversals 1,152 1,068 280 of which current operating liabilities (allowances) reversals (157) (202) 66 Operating expenses (144,261) (154,097) (125,241) (a) Includes taxes paid on oil and gas production in the Exploration & Production segment, amongst others royalties. (b) The Group 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 policies Research costs are charged to expense as incurred. Development expenses are capitalized when the criteria of IAS38 are met. Research and development costs incurred by the Group in 2019 and booked in operating expenses amount to $968 million ($986 million in 2018 and $912 million in 2017), corresponding to 0.48% of the sales. The staff dedicated in 2019 to these research and development activities are estimated at 4,339 people (4,288 in 2018 and 4,132 in 2017). 5.3) Amortization, depreciation and impairment of tangible assets and mineral interests The amortization, depreciation and impairment of tangible assets and mineral interests are detailed as follows: For the year ended December 31, (M$) Depreciation and impairment of tangible assets (14,640) (13,364) (14,782) Amortization and impairment of mineral assets (1,091) (628) (1,321) Total (15,731) (13,992) (16,103) Items related to balance sheet 5.4) Working capital 5.4.1) Inventories Accounting policies 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 costs 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 the Group’s 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 refined products include mainly raw materials costs, production costs (energy, labor, depreciation of producing assets) 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 the Group are valued at their purchase cost plus primary costs of transport. Carbon dioxide emission rights In the absence of a current IFRS standard or interpretation on accounting for emission rights of carbon dioxide, 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. - At each closing, a provision is recorded in order to materialize the obligation to surrender emission rights related to the emissions of the period. This provision is calculated based on estimated emissions of the period, valued at weighted average cost of the inventories at the end of the period. It is reversed when the emission rights are surrendered; - If emission rights to be surrendered at the end of the compliance period are higher than emission rights recorded in inventories, 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, 2019 Valuation (M$) Gross value allowance Net value Crude oil and natural gas 2,381 (14) 2,367 Refined products 5,326 (45) 5,281 Chemicals products 1,448 (91) 1,357 Trading inventories 5,500 — 5,500 Other inventories 3,651 (1,024) 2,627 Total 18,306 (1,174) 17,132 As of December 31, 2018 Valuation (M$) Gross value allowance Net value Crude oil and natural gas 2,382 (110) 2,272 Refined products 5,464 (242) 5,222 Chemicals products 1,087 (54) 1,033 Trading inventories 3,918 — 3,918 Other inventories 3,372 (937) 2,435 Total 16,223 (1,343) 14,880 As of December 31, 2017 Valuation (M$) Gross value allowance Net value Crude oil and natural gas 2,658 — 2,658 Refined products 5,828 (36) 5,792 Chemicals products 1,089 (58) 1,031 Trading inventories 4,320 — 4,320 Other inventories 3,632 (913) 2,719 Total 17,527 (1,007) 16,520 Changes in the valuation allowance on inventories are as follows: Currency Valuation translation Valuation For the year ended December 31, allowance as of adjustment and allowance as of (M$) January 1, Increase (net) other variations December 31, 2019 (1,343) (1,174) 2018 (1,007) (359) 23 (1,343) 2017 (971) 9 (45) (1,007) 5.4.2) Accounts receivable and other current assets As of December 31, 2019 Valuation (M$) Gross value allowance Net value Accounts receivable 19,162 (674) 18,488 Recoverable taxes 4,209 (95) 4,114 Other operating receivables 11,746 (240) 11,506 Prepaid expenses 1,336 — 1,336 Other current assets 57 — 57 Other current assets 17,348 (335) 17,013 As of December 31, 2018 Valuation (M$) Gross value allowance Net value Accounts receivable 17,894 (624) 17,270 Recoverable taxes 4,090 — 4,090 Other operating receivables 10,306 (573) 9,733 Prepaid expenses 837 — 837 Other current assets 64 — 64 Other current assets 15,297 (573) 14,724 As of December 31, 2017 Valuation (M$) Gross value allowance Net value Accounts receivable 15,469 (576) 14,893 Recoverable taxes 4,029 — 4,029 Other operating receivables 9,797 (461) 9,336 Prepaid expenses 786 — 786 Other current assets 59 — 59 Other current assets 14,671 (461) 14,210 Changes in the valuation allowance on “Accounts receivable” and “Other current assets” are as follows: Currency Valuation translation Valuation For the year ended December 31, allowance as of adjustments and allowance as of (M$) January 1, Increase (net) other variations December 31, Accounts receivable 2019 (624) (89) 39 (674) 2018 (576) (62) 14 (624) 2017 (596) 53 (33) (576) Other current assets 2019 (573) (46) 284 (335) 2018 (461) (148) 36 (573) 2017 (400) (58) (3) (461) As of December 31, 2019, the net portion of the overdue receivables included in “Accounts receivable” and “Other current assets” was $3,760 million, of which $2,089 million was due in less than 90 days, $357 million was due between 90 days and 6 months, $402 million was due between 6 and 12 months and $912 million was due after 12 months. As of December 31, 2018, the net portion of the overdue receivables included in “Accounts receivable” and “Other current assets” was $3,767 million, of which $1,993 million was due in less than 90 days, $273 million was due between 90 days and 6 months, $450 million was due between 6 and 12 months and $1,051 million was due after 12 months. As of December 31, 2017, the net portion of the overdue receivables included in “Accounts receivable” and “Other current assets” was $3,156 million, of which $1,682 million was due in less than 90 days, $235 million was due between 90 days and 6 months, $350 million was due between 6 and 12 months and $889 million was due after 12 months. 5.4.3) Other creditors and accrued liabilities As of December 31, (M$) Accruals and deferred income 522 546 419 Payable to States (including taxes and duties) 7,438 6,861 5,786 Payroll 1,527 1,553 1,439 Other operating liabilities 16,262 13,286 10,135 Total 25,749 22,246 17,779 As of December 31, 2019, the heading “Other operating liabilities” includes mainly the second quarterly interim dividend for the fiscal year 2019 for $1,918 million, which was paid in January 2020 and the third quarterly interim dividend for the fiscal year 2019 for $2,038 million, which will be paid in April 2020. As of December 31, 2018, the heading “Other operating liabilities” included mainly the second quarterly interim dividend for the fiscal year 2018 for $1,911 million, which was paid in January 2019 and the third quarterly interim dividend for the fiscal year 2018 for $1,912 million, which was paid in April 2019. As of December 31, 2017, the heading “Other operating liabilities” included mainly the second quarterly interim dividend for the fiscal year 2017 for $1,883 million, which was paid in January 2018 and the third quarterly interim dividend for the fiscal year 2017 for $1,912 million, which was paid in April 2018. Items related to the cash flow statement 5.5) Cash flow from operating activities Accounting policies The Consolidated Statement of Cash Flows prepared in currencies other than dollar has been translated into dollars using the exchange rate on the transaction date or the average exchange rate for the period. Currency translation differences arising from the translation of monetary assets and liabilities denominated in foreign currency into dollars using the closing exchange rates are shown in the Consolidated Statement of Cash Flows under “Effect of exchange rates”. Therefore, the Consolidated Statement of Cash Flows will not agree with the figures derived from the Consolidated Balance Sheet. The following table gives additional information on cash paid or received in the cash flow from operating activities: Detail of interest, taxes and dividends For the year ended December 31, (M$) Interests paid (2,181) (1,818) (1,305) Interests received 210 164 82 Income tax paid (a) (5,293) (5,024) (4,013) Dividends received 1,988 2,456 2,219 (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, (M$) Inventories (2,071) 1,430 (476) Accounts receivable (933) (1,461) (1,897) Other current assets (2,001) (364) 1,274 Accounts payable 1,998 (822) 2,339 Other creditors and accrued liabilities 1,289 1,986 (413) Net amount, Decrease (Increase) (1,718) 769 827 Detail of changes in provisions and deferred taxes As of December 31, (M$) Accruals 403 (432) 3 Deferred taxes (461) (455) (387) Total (58) (887) (384) |
Other items from operating acti
Other items from operating activities | 12 Months Ended |
Dec. 31, 2019 | |
Other items from operating activities | |
Other items from operating activities | 6) Other items from operating activities 6.1) Other income and other expense For the year ended December 31, (M$) Gains on disposal of assets 670 1,041 2,784 Foreign exchange gains 238 252 785 Other 255 545 242 Other income 1,163 1,838 3,811 Losses on disposal of assets (56) (111) (186) Foreign exchange losses (463) (444) — Amortization of other intangible assets (excl. mineral interests) (266) (225) (192) Other (407) (493) (656) Other expense (1,192) (1,273) (1,034) Other income In 2019, gains on disposal of assets are mainly related to the sale of assets and interests in Norway in the Exploration & Production segment, to the sale of Hazira and SunPower assets in the Integrated Gas Renewables & Power segment and the sale of assets in China in the Refining & Chemicals segment. In 2018, gains on disposal of assets are mainly related to the sale of assets and interests in Norway, Canada and Gabon in the Exploration & Production segment, to the sale of Dunkerque LNG SAS and SunPower assets in the Integrated Gas Renewables & Power segment and the sale of TotalErg and Total Haiti in the Marketing & Services segment. In 2017, gains on disposal of assets mainly related to the sale of Atotech in the Refining & Chemicals segment and to the sale of assets in Gabon in the Exploration & Production segment. Other expense In 2019,the heading "Other" mainly consists of the restructuring charges in the Exploration & Production, Integrated Gas Renewables & Power and Refining & Chemicals segments for an amount of $96 million, $94 million of revaluation at fair value of non-consolidated shares. In 2018, the heading “Other” mainly consists of the restructuring charges in the Exploration & Production, Integrated Gas Renewables & Power and Refining & Chemicals segments for an amount of $179 million, $77 million of the impairment of non-consolidated shares and loans granted to non-consolidated subsidiaries and equity affiliates. In 2017, losses on disposal mainly related to the sale of 15% interests in the Gina Krog field in Norway. The heading “Other” mainly consisted of the impairment of non-consolidated shares and loans granted to non-consolidated subsidiaries and equity affiliates for an amount of $172 million and $64 million of restructuring charges in the Exploration & Production, Integrated Gas Renewables & Power and Refining & Chemicals segments. 6.2) Other financial income and expense As of December 31, (M$) Dividend income on non-consolidated subsidiaries 178 171 167 Capitalized financial expenses 227 519 460 Other 387 430 330 Other financial income 792 1,120 957 Accretion of asset retirement obligations (639) (530) (544) Other (125) (155) (98) Other financial expense (764) (685) (642) 6.3) Other non-current assets As of December 31, 2019 Valuation (M$) Gross value allowance Net value Loans and advances (a) 2,248 (266) 1,982 Other non-current financial assets related to operational activities 332 — 332 Other 101 — 101 Total 2,681 (266) 2,415 As of December 31, 2018 Valuation (M$) Gross value allowance Net value Loans and advances (a) 2,180 (303) 1,877 Other non-current financial assets related to operational activities 471 — 471 Other 161 — 161 Total 2,812 (303) 2,509 As of December 31, 2017 Valuation (M$) Gross value allowance Net value Loans and advances (a) 3,237 (359) 2,878 Other non-current financial assets related to operational activities 937 — 937 Other 169 — 169 Total 4,343 (359) 3,984 (a) Excluding loans to equity affiliates. Changes in the valuation allowance on loans and advances are detailed as follows: For the year ended December 31, Currency Valuation translation Valuation allowance as of adjustment and allowance as of (M$) January 1, Increases Decreases other variations December 31, 2019 (303) (7) 43 1 (266) 2018 (359) (5) 35 26 (303) 2017 (286) (50) 11 (34) (359) |
Intangible and tangible assets
Intangible and tangible assets | 12 Months Ended |
Dec. 31, 2019 | |
Intangible and tangible assets | |
Intangible and tangible assets | 7) Intangible and tangible assets 7.1) Intangible assets Accounting policies 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, trademarks, and lease rights. 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 to twenty years depending on the useful life of the assets. The corresponding expense is recorded under other expense. As of December 31, 2019 Amortization and (M$) Cost impairment Net Goodwill 9,357 (1,011) 8,346 Proved mineral interests 15,966 (8,741) 7,225 Unproved mineral interests 20,138 (4,558) 15,580 Other intangible assets 5,743 (3,716) 2,027 Total intangible assets 51,204 (18,026) 33,178 As of December 31, 2018 Amortization and (M$) Cost impairment Net Goodwill 9,188 (1,014) 8,174 Proved mineral interests 14,775 (7,947) 6,828 Unproved mineral interests 16,712 (4,491) 12,221 Other intangible assets 5,824 (4,125) 1,699 Total intangible assets 46,499 (17,577) 28,922 As of December 31, 2017 Amortization and (M$) Cost impairment Net Goodwill 2,442 (1,015) 1,427 Proved mineral interests 13,081 (7,674) 5,407 Unproved mineral interests 11,686 (5,324) 6,362 Other intangible assets 4,831 (3,440) 1,391 Total intangible assets 32,040 (17,453) 14,587 Change in net intangible assets is analyzed in the following table: Currency Net amount as of Amortization and translation Net amount as of (M$) January 1, Expenditures Disposals impairment adjustment Other December 31, 2019 28,922 1,087 (118) (1,359) (95) 4,741 33,178 2018 14,587 3,745 (28) (852) (351) 11,821 28,922 2017 15,362 404 (23) (1,512) 234 122 14,587 In 2019, the heading "Amortization and impairment" includes the accounting impact of exceptional asset impairments for an amount of $251 million (see note 3 paragraph D to the Consolidated Financial Statements). In 2019, the heading "Other" principally corresponds to the effect of the entries in the consolidation scope (including the assets of Anadarko in Mozambique) for $3,887 million. In 2018, the heading “Amortization and impairment" includes the accounting impact of exceptional asset impairments for an amount of $67 million (see note 3 paragraph D to the Consolidated Financial Statements). In 2018, the heading "Other" principally corresponds to the effect of the entries in the consolidation scope (including Maersk Oil, Global LNG and Direct Energie) for $12,044 million. In 2017, the heading “Amortization and impairment" included the accounting impact of exceptional asset impairments for an amount of $785 million (see note 3 paragraph D to the Consolidated Financial Statements). A summary of changes in the carrying amount of goodwill by business segment for the year ended December 31, 2019 is as follows: Net goodwill as of Net goodwill as of (M$) January 1, 2019 Increases Impairments Other December 31, 2019 Exploration & Production 2,642 — — — 2,642 Integrated Gas, Renewables & Power 4,707 155 — (88) 4,774 Refining & Chemicals 475 52 — (4) 523 Marketing & Services 321 62 — (4) 379 Corporate 29 — — (1) 28 Total 8,174 269 — (97) 8,346 The heading “Increases” corresponds to the effect of the acquisitions mainly Anadarko Mozambique for an amount of $136 million (see Note 2 paragraph 2 to the Consolidated Financial Statements). Goodwill related to acquisitions of Direct Energie and Global LNG in 2018 was allocated to CGUs of Integrated Gas, Renewables & Power segment. 7.2) Property, plant and equipment Accounting policies Exploration costs The Group 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 a well-by-well 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 temporarily capitalized until a determination is made as to whether the well has found proved reserves 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; The Group 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 the Group is waiting for governmental or other third-party authorization of 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. Oil and Gas producing 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 producing assets is equal to the ratio of oil and gas production for the period to proved developed reserves (unit-of-production method). 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 the Group 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 (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 duration of use of 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: if the project benefits from a specific funding, the capitalization of borrowing costs is based on the borrowing rate; if the project is financed by all the Group’s debt, the capitalization of borrowing costs is based on the weighted average borrowing cost for the period. 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, 2019 Depreciation and (M$) Cost impairment Net Property, plant and equipment of exploration and production activities Proved properties 210,071 (130,134) 79,937 Unproved properties 2,160 (288) 1,872 Work in progress 12,056 (569) 11,487 Subtotal 224,287 (130,991) 93,296 Other property, plant and equipment Land 2,826 (792) 2,034 Machinery, plant and equipment (including transportation equipment) 36,747 (25,548) 11,199 Buildings 10,519 (6,032) 4,487 Work in progress 2,501 (2) 2,499 Other 10,137 (7,244) 2,893 Subtotal 62,730 (39,618) 23,112 Total property, plant and equipment 287,017 (170,609) 116,408 As of December 31, 2018 Depreciation and (M$) Cost impairment Net Property, plant and equipment of exploration and production activities Proved properties 192,272 (120,435) 71,837 Unproved properties 1,673 (152) 1,521 Work in progress 22,553 (1,128) 21,425 Subtotal 216,498 (121,715) 94,783 Other property, plant and equipment Land 1,775 (648) 1,127 Machinery, plant and equipment (including transportation equipment) 34,564 (25,393) 9,171 Buildings 8,864 (5,640) 3,224 Work in progress 2,540 (2) 2,538 Other 9,171 (6,690) 2,481 Subtotal 56,914 (38,373) 18,541 Total property, plant and equipment 273,412 (160,088) 113,324 As of December 31, 2017 Depreciation and (M$) Cost impairment Net Property, plant and equipment of exploration and production activities Proved properties 174,336 (112,113) 62,223 Unproved properties 1,980 (152) 1,828 Work in progress 30,286 (2,537) 27,749 Subtotal 206,602 (114,802) 91,800 Other property, plant and equipment Land 1,809 (652) 1,157 Machinery, plant and equipment (including transportation equipment) 33,554 (25,774) 7,780 Buildings 9,203 (5,859) 3,344 Work in progress 2,310 (1) 2,309 Other 9,463 (6,456) 3,007 Subtotal 56,339 (38,742) 17,597 Total property, plant and equipment 262,941 (153,544) 109,397 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, 2019 113,324 11,426 (1,052) (15,097) (270) 8,077 116,408 2018 109,397 13,336 (2,494) (13,732) (1,454) 8,271 113,324 2017 111,971 13,363 (1,117) (15,099) 2,302 (2,023) 109,397 In 2019, the heading "Disposals" mainly includes the impact of the 4% sale of Ichthys LNG in Australia. In 2019, the heading "Depreciation and impairment" includes the impact of impairments of assets recognized for an amount of $669 million (see Note 3 paragraph D to the Consolidated Financial Statements). In 2019, the heading "Other" principally corresponds to the effect of the first application of IFRS 16 for an amount of $5,698 million, the entries in the consolidation scope (including Anadarko assets for $767 million) and the reversal of the reclassification under IFRS 5 as at December 31, 2018 for $812 million corresponding to disposals. In 2018, the heading “Disposals” mainly includes the impact of sales in the Exploration & Production segment (mainly Martin Linge in Norway and Fort Hills in Canada). In 2018, the heading “Depreciation and impairment” includes the impact of impairments of assets recognized for an amount of $1,707 million (see Note 3 paragraph D to the Consolidated Financial Statements). In 2018, the heading “Other” principally corresponds to the effect of the entries in the consolidation scope (including Maersk, Lapa and Iara in Brazil and Direct Energie) for $6,987 million, to the reclassification of assets in accordance with IFRS 5 "Non-current assets held for sale and discontinued operations” (mainly related to the 4% sale of Ichthys for $(812) million) and the reversal of the reclassification under IFRS 5 as at December 31, 2017 for $2,604 million corresponding to disposals. In 2017, the heading “Disposals” mainly included the impact of sales in the Exploration & Production segment (sale of interests in Gina Krog in Norway, and in Gabon). In 2017, the heading “Depreciation and impairment” included the impact of impairments of assets recognized for an amount of $3,901 million (see Note 3 paragraph D to the Consolidated Financial Statements). In 2017, the heading “Other” principally corresponded to the impact of $855 million of finance lease contracts, the decrease of the asset for site restitution for an amount of $(773) million and the reclassification of assets classified in accordance with IFRS 5 "Non-current assets held for sale and discontinued operations” for $(2,604) million, related to the Martin Linge field in Norway. Following the application of IFRS 16 "Leases", property, plant and equipment as at December 31, 2019 presented above include the following amounts for rights of use of assets: As of December 31, 2019 Depreciation and (M$) Cost impairment Net Property, plant and equipment of exploration and production activities 2,482 (517) 1,965 Other property, plant and equipment Land 1,031 (104) 927 Machinery, plant and equipment (including transportation equipment) 3,527 (999) 2,528 Buildings 1,545 (201) 1,344 Other 483 (134) 349 Subtotal 6,586 (1,438) 5,148 Total property, plant and equipment 9,068 (1,955) 7,113 Property, plant and equipment as at December 31, 2018 and as at December 31, 2017, presented above include the following amounts for facilities and equipment under finance leases: As of December 31, 2018 Depreciation and (M$) Cost impairment Net Machinery, plant and equipment 1,778 (605) 1,173 Buildings 121 (56) 65 Other 543 (83) 460 Total 2,442 (744) 1,698 As of December 31, 2017 Depreciation and (M$) Cost impairment Net Machinery, plant and equipment 1,140 (468) 672 Buildings 124 (57) 67 Other 378 (58) 320 Total 1,642 (583) 1,059 |
Equity affiliates, other invest
Equity affiliates, other investments and related parties | 12 Months Ended |
Dec. 31, 2019 | |
Equity affiliates, other investments and related parties | |
Equity affiliates, other investments and related parties | 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 the Group’s share of the net income and other comprehensive income of the associate or joint venture. Unrealized gains on transactions between the Group and its equity-accounted entities are eliminated to the extent of the Group’s interest in the equity accounted entity. In equity affiliates, goodwill is included in investment book value. In cases where the group holds less than 20% of the voting rights in another entity, the determination of whether the Group 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$) Total Associates 17,026 13,330 12,177 Total Joint ventures 6,097 5,359 4,791 Total 23,123 18,689 16,968 Loans 3,999 4,755 5,135 Total 27,122 23,444 22,103 Profit/(loss) As of December 31, (M$) Total Associates 2,534 2,329 1,694 Total Joint ventures 872 841 321 Total 3,406 3,170 2,015 Other comprehensive income As of December 31, (M$) Total Associates 592 (461) (801) Total Joint ventures (184) (79) 124 Total 408 (540) (677) A) Information related to associates Information (100% gross) related to significant associates is as follows: Novatek (a) Liquefaction entities PetroCedeño (M$) Non current assets 24,081 14,639 14,232 30,578 28,664 29,656 3,994 4,324 5,551 Current assets 6,898 4,545 3,404 9,994 9,358 7,875 7,457 5,580 4,291 Total Assets 30,979 19,184 17,636 40,572 38,022 37,531 11,451 9,904 9,842 Shareholder’s equity 24,884 14,163 12,842 23,640 22,615 22,804 4,548 4,581 5,178 Non current liabilities 3,727 3,086 3,187 11,445 9,826 10,291 76 20 13 Current liabilities 2,368 1,935 1,607 5,487 5,581 4,436 6,827 5,303 4,651 Total Liabilities 30,979 19,184 17,636 40,572 38,022 37,531 11,451 9,904 9,842 Revenue from sales 13,227 13,415 10,022 22,684 25,644 20,401 356 1,629 1,708 Net income 8,260 4,636 1,950 5,692 7,408 5,781 (33) 122 204 Other comprehensive income 1,807 (2,545) 580 — — — — — — % owned 19.40 % 19.40 % 18.90 % 30.32 % 30.32 % 30.32 % Revaluation identifiable assets on equity affiliates 1,641 1,556 1,804 1,714 44 6 — — — Equity value 6,469 4,303 4,231 5,493 3,758 3,768 1,379 1,389 1,570 Profit/(loss) 1,508 794 263 637 874 735 (10) 37 62 Share of Other Comprehensive Income, net amount 634 (540) (491) 23 49 (194) — — — Dividends paid to the Group 266 151 128 752 816 672 — 218 164 (a) Information includes the best Group’s estimates of results at the date of TOTAL's financial statements. Novatek, listed in Moscow and London, is the 2nd largest producer of natural gas in Russia. The Group share of Novatek’s market value amounted to $11,938 million as at December 31, 2019. Novatek is consolidated by the equity method. TOTAL, in fact, exercises significant influence particularly via its representation on the Board of Directors of Novatek and its interest in Yamal LNG and the project Arctic LNG 2. The Group is not aware of significant restrictions limiting the ability of OAO Novatek to transfer funds to its shareholder, be it under the form of dividends, repayment of advances or loans made. The Group’s interests in associates operating liquefaction plants are combined. The amounts include investments in: Nigeria LNG (15.00%), Angola LNG (13.60%), Yemen LNG (39.62%), Qatar Liquefied Gas Company Limited (Qatargas) (10.00%), Qatar Liquefied Gas Company Limited II (16.70%), Oman LNG (5.54%), and Abu Dhabi Gas Liquefaction Company Limited (5.00%), Arctic LNG 2 (10.00)%. PetroCedeño produces and upgrades extra-heavy crude oil in Venezuela. Saudi Aramco Total Refining & Petrochemicals Qatar (M$) Non current assets 10,976 11,281 11,601 4,160 3,968 4,405 Current assets 1,793 2,069 2,021 1,571 1,741 1,696 Total Assets 12,769 13,350 13,622 5,731 5,709 6,101 Shareholder’s equity 2,113 2,412 2,424 2,676 2,748 3,200 Non current liabilities 8,098 8,398 9,029 2,150 1,914 1,895 Current liabilities 2,558 2,540 2,169 905 1,047 1,006 Total Liabilities 12,769 13,350 13,622 5,731 5,709 6,101 Revenue from sales 10,522 11,886 9,049 8,225 9,929 7,388 Net income (171) 122 222 42 409 490 Other comprehensive income (124) 16 20 111 (21) 80 % owned 37.50 % 37.50 % 37.50 % Revaluation identifiable assets on equity affiliates — — — — — — Equity value 792 905 909 706 740 814 Profit/(loss) (64) 46 83 91 198 190 Share of Other Comprehensive Income, net amount (33) 40 (82) 14 6 (12) Dividends paid to the Group — 56 45 159 271 201 Saudi Aramco Total Refining & Petrochemicals is an entity including a refinery in Jubail, Saudi Arabia, with a capacity of 440,000 barrels/day with integrated petrochemical units. The Group’s 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 (49.09%), 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 Total Petrochemicals (M$) Non current assets 70,279 68,003 59,422 4,310 4,017 3,989 Current assets excluding cash and cash equivalents 1,866 1,928 966 1,842 2,180 2,258 Cash and cash equivalents 1,678 339 1,258 322 237 283 Total Assets 73,823 70,270 61,646 6,474 6,434 6,530 Shareholder’s equity 7,151 7,059 4,037 3,319 3,534 3,612 Other non current liabilities 6,864 3,472 504 150 157 148 Non current financial debts 56,379 56,841 55,566 1,761 1,418 1,078 Other current liabilities 3,429 2,898 1,539 756 725 1,144 Current financial debts — — — 488 600 548 Total Liabilities 73,823 70,270 61,646 6,474 6,434 6,530 Revenue from sales 9,240 2,908 37 8,437 10,191 8,565 Depreciation and depletion of tangible assets and mineral interests (3,040) (1,227) (10) (256) (269) (264) Interest income 5 119 16 — 9 — Interest expense (2,993) (670) (15) (14) (5) (3) Income taxes (270) (386) 338 (124) (310) (369) Net income 383 2,029 (1,730) 302 754 973 Other comprehensive income (429) 132 97 (116) (169) 398 % owned 50.00 % 50.00 % 50.00 % Revaluation identifiable assets on equity affiliates 660 683 905 — — — Equity value 2,318 2,404 2,049 1,660 1,767 1,806 Profit/(loss) (19) 192 (348) 150 377 486 Share of Other Comprehensive Income, net amount (112) 40 29 (68) (67) 170 Dividends paid to the Group — — — 200 332 353 The Group’s 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 Total Petrochemicals 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 consolidated affiliates In Group share, the main aggregated financial items in equity consolidated affiliates including assets held for sale, which have not been presented individually are as follows: 2019 2018 2017 As of December 31, Joint Joint Joint (M$) Associates ventures Associates ventures Associates ventures Non Current assets 5,435 4,287 4,512 2,487 2,908 2,428 Current assets 1,357 1,276 1,263 752 1,156 1,150 Total Assets 6,792 5,563 5,775 3,239 4,064 3,578 Shareholder’s equity 1,405 1,437 1,438 1,108 885 1,102 Non current liabilities 4,412 3,091 3,254 1,585 2,171 1,281 Current liabilities 975 1,035 1,083 546 1,008 1,195 Total Liabilities 6,792 5,563 5,775 3,239 4,064 3,578 2019 2018 2017 For the year ended December 31, Joint Joint Joint (M$) Associates ventures Associates ventures Associates ventures Revenues from sales 2,190 3,535 2,542 11,914 2,226 4,358 Net income 383 288 380 281 361 183 Share of other comprehensive income items (46) (4) (16) (52) (22) (75) Equity value 2,187 2,119 2,235 1,188 885 936 Profit/(Loss) 372 741 380 272 361 183 Dividends paid to the Group 362 50 416 49 328 147 8.2) Other investments Accounting policies Other investments are equity instruments and are measured according to IFRS 9 at fair value through profit and loss (default option). On initial recognition, the standard allows to make an election and record the changes of fair value in other comprehensive income. For these securities, only dividends can be recognized in profit or loss. The Group recognizes changes in fair value in equity or in profit or loss according to the option chosen on an instrument by instrument basis. For securities traded in active markets, this fair value is equal to the market price. Securities whose fair value is not reliably determinable, are recorded at their acquisition value. For years prior to the application of IFRS 9, equity instruments were classified as available for sale financial assets and measured at fair value. For securities traded in active markets, this fair value was equal to the market price. Changes in fair value were recorded in other comprehensive income. If there was any evidence of a significant or long-lasting impairment loss, a loss was recorded in the statement of income. This impairment was irreversible. For other securities, if the fair value was not reliably determinable, the securities were recorded at their historical value. As of December 31, 2019 As of As of (M$) January 1, Increase - Change in December 31, Decrease fair value Enphase Energy Inc 36 (5) 142 173 Tellurian Investments Inc. 207 — — 207 Other shares through fair value OCI (unit value < $50M) 119 7 — 126 Equity instruments recorded through fair value OCI 362 2 142 506 BBPP 62 — — 62 BTC Limited 50 — (22) 28 Tas Helat Marketing Company (a) — 108 — 108 Total Lubrificantes do Brasil (b) 111 (111) — — Other shares through fair value P&L (unit value < $50M) 836 238 — 1,074 Equity instruments recorded through fair value P&L 1,059 235 (22) 1,272 Total equity instruments 1,421 237 120 1,778 (a) Tas Helat Marketing Company is a joint venture with SAUDI ARAMCO to develop the retail business. It will be consolidated in 2020 (using the equity method). (b) Total Lubrificantes do Brasil was consolidated in 2019. As of December 31, 2018 As of As of (M$) January 1, Increase - Change in December 31, Decrease fair value Tellurian Investments Inc. 207 — — 207 Other shares through fair value OCI (unit value < $50M) 77 80 (2) 155 Equity instruments recorded through fair value OCI 284 80 (2) 362 BBPP 62 — — 62 BTC Limited 55 — (5) 50 DUNKERQUE LNG SAS 144 (217) 73 — Total Lubrificantes do Brasil (a) — 111 — 111 Other shares through fair value P&L (unit value < $50M) 1,182 (346) — 836 Equity instruments recorded through fair value P&L 1,443 (452) 68 1,059 Total equity instruments 1,727 (372) 66 1,421 (a) Total Lubrificantes do Brasil will be consolidated in 2019. As of December 31, 2017 Historical Unrealized gain Balance (M$) value (loss) sheet value Other equity securities publicly traded in active markets 8 42 50 Total equity securities publicly traded in active markets (a) 8 42 50 BBPP 62 — 62 BTC Limited 55 — 55 DUNKERQUE LNG SAS 144 — 144 Tellurian Investments Inc. 207 — 207 Total Eren Holding SA (b) 285 — 285 Greenflex (b) 76 — 76 Other equity securities (unit value < $50 million) 848 — 848 Total other equity securities (a) 1,677 — 1,677 Other investments 1,685 42 1,727 (a) Including cumulative impairments of $2,029 million in 2017. (b) Acquisitions made in the fourth quarter 2017 and consolidated in 2018 8.3) Related parties The main transactions and receivable and payable balances with related parties (principally non-consolidated subsidiaries and equity consolidated affiliates) are detailed as follows: As of December 31, (M$) Balance sheet Receivables Debtors and other debtors 486 496 492 Loans (excl. loans to equity affiliates) 42 57 63 Payables Creditors and other creditors 968 888 1,161 Debts 2 2 2 For the year ended December 31, (M$) Statement of income Sales 4,127 4,192 3,407 Purchases (10,158) (9,253) (7,354) Financial income 4 2 6 Financial expense (4) (5) (9) 8.4) Compensation for the administration and management bodies The aggregate amount of direct and indirect compensation accounted by the French and foreign affiliates of the Company, for all executive officers of TOTAL as of December 31, 2019 and for the members of the Board of Directors who are employees of the Group, is detailed below. As of December 31, 2019, the main Group executive officers include the members of the Executive Committee and the four directors of the corporate functions members of the Group Performance Management Committee (Communication, Legal, Health, Safety and Environment, Investor relations), and the Group Treasurer. For the year ended December 31, (M$) Number of people 15 15 15 Direct or indirect compensation 15.0 17.7 15.6 Pension expenses (a) (4.9) 2.5 10.8 Share-based payments expense (IFRS 2) (b) 8.7 12.6 6.5 (a) The benefits provided for executive officers of the Group and the members of the Board of Directors, who are employees of the Group, include severance to be paid upon retirement, supplementary pension schemes and insurance plans, which represent $113.3 million provisioned as of December 31, 2019 (against $117.0 million as of December 31, 2018 and $119.7 million as of December 31, 2017). The negative pension expense in 2019 is related to the application of the "ordonnance 2019-697" impacting the supplementary defined benefit pension plan which benefit the employees of TOTAL S.A. whose reference salary exceeded on 4 July 2019 an amount equal to 8 times the annual ceiling for calculating French Social Security contributions (PASS). This "ordonnance" involves a freeze of the years of service of beneficiaries as of 31/12/2019, which generates a reversal of provision established priorly. (b) Share-based payments expense computed for the executive officers and the members of the Board of Directors who are employees of the Group and based on the principles of IFRS 2 “Share-based payments” described in Note 9. The grant rate of the 2016 plan has been revised downwards, the level of achievement of the performance conditions having been lower than the estimates used in the previous year. The compensation allocated to members of the board of directors for directors’ fees totaled €1.4 million ($1.57 million) in 2019, €1.4 million ($1.65 million) in 2018 and €1.28 million ($1.44 million) in 2017. |
Shareholders' equity and share-
Shareholders' equity and share-based payments | 12 Months Ended |
Dec. 31, 2019 | |
Shareholders' equity and share-based payments | |
Shareholders' equity and share-based payments | 9) Shareholders’ equity and share-based payments 9.1) Shareholders’ equity Number of TOTAL shares As of December 31, 2019, there is only one category of shares of TOTAL S.A. The shares have a par value of €2.50 and may be held in either registered or bearer form. Double voting rights are 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. Double voting rights are also assigned, in the event of an increase in share capital by incorporation of reserves, profits or premiums, to registered shares granted for free to a shareholder due to shares already held that are entitled to this rights. Pursuant to the Company'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 Company'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 to 20% of the total voting rights for the Company's shares. These restrictions no longer apply if any individual or entity, acting alone or in concert, acquires at least two-thirds of the total share capital of the Company, directly or indirectly, following a public tender offer for all of the Company’s shares. The authorized share capital amounts to 3,593,399,547 shares as of December 31, 2019 compared to 3,669,077,772 shares as of December 31, 2018 and 3,434,245,369 shares as of December 31, 2017. As of December 31, 2019, the share capital of TOTAL S.A. amounted to €6,504,702,687.50, divided in 2,601,881,075 shares. 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 Company’s share capital by cancelling shares, in accordance with the provisions of Articles L. 225-209 and L. 225-213 of the French Commercial Code, proceeded with the following cancellation of TOTAL shares: Percentage Number of shares Buybacks carried out regarding the of the share Fiscal Board of Directors’ bought back and Cancellation of the Shareholder capital on year decision date cancelled dilution (a) return policy (b) cancelled (c) 2019 December 11, 2019 65,109,435 shares bought back between October 29, 2018 and September 9, 2019 34,860,133 shares issued as payment for the 1 st , 2 nd and 3 rd 2018 interim dividends 30,249,302 shares 2.44 % 2018 December 12, 2018 44,590,699 shares bought back between February 9 and October 11, 2018 28,445,840 shares issued as payment for the 2nd and 3rd interim dividends as well as for the final 2017 dividends 16,144,859 shares 1.66 % 2017 n/a(d) (a) Cancellation of the dilution for the shares issued, without discount, for the scrip dividend. (b) Within the framework of the $5 billion share buyback program over the 2018-2020 period. (c) Percentage of the share capital that the cancelled shares represented on the operations’ date. (d) TOTAL S.A. did not cancel any shares in the fiscal year 2017. Variation of the number of shares composing the share capital As of December 31, 2016 (a) 2,430,365,862 Shares issued in connection with: Capital increase reserved for employees 9,532,190 Capital increase as payment of the scrip dividend (second 2016 interim dividend, third 2016 interim dividend, 2016 final dividend and first 2017 interim dividend) 86,442,256 Exercise of TOTAL share subscription options 2,649,308 As of December 31, 2017 (b) 2,528,989,616 Shares issued in connection with: Capital increase reserved for employees 9,354,889 Capital increase as payment of the scrip dividend (second 2017 interim dividend, third 2017 interim dividend, 2017 final dividend and first 2018 interim dividend) 47,229,037 Exercise of TOTAL share subscription options 2,096,571 Issuance of shares in consideration for the acquisition of Maersk Olie og Gas A/S 97,522,593 Cancellation of treasury shares (44,590,699) As of December 31, 2018 (c) 2,640,602,007 Shares issued in connection with: Capital increase reserved for employees 10,047,337 Capital increase as payment of the scrip dividend (second 2018 interim dividend, third 2018 interim dividend) 16,076,936 Exercise of TOTAL share subscription options 264,230 Cancellation of treasury shares (65,109,435) As of December 31, 2019 (d) 2,601,881,075 (a) Including 10,587,822 treasury shares deducted from consolidated shareholders’ equity. (b) Including 8,376,756 treasury shares deducted from consolidated shareholders’ equity. (c) Including 32,473,281 treasury shares deducted from consolidated shareholders’ equity. (d) Including 15,474,234 treasury shares deducted from consolidated shareholders' equity. Capital increase reserved for Group employees The Extraordinary General Meeting ("EGM") of June 1, 2018, in its eighteenth resolution, granted the authority to the Board of Directors to carry out,a capital increase, in one or more occasions within a maximum period of twenty-six months, reserved to members (employees and retirees) of a company or group savings plan of the Company (“ ESOP” ). In fiscal year 2019, the Board of Directors of September 18, 2019, by virtue of the eighteenth resolution above-mentioned, has decided to proceed with a capital increase reserved for Group employees and retirees that included a classic offering and a leveraged offering depending on the employees’ or retirees’ choice, within the limit of 18 million shares with immediate dividend rights. The Board of Directors has granted all powers to the Chairman and Chief Executive Officer to determine the opening and closing dates of the subscription period and the subscription price. This capital increase is expected to be completed after the General Meeting of May 29, 2020. During the fiscal years 2017, 2018 and 2019, the Company completed the following ESOP, which terms are set out below: Fiscal year Date of the ESOP June 6, 2019 May 3, 2018 April 26, 2017 By virtue of 18 th resolution of the EGM of June 1, 2018 23 rd resolution of the EGM of May 24, 2016 Subscriptions Number of shares subscribed 9,845,111 9,174,817 9,350,220 Subscription price 40.10 euros 37.20 euros 38.10 euros Free shares Number of shares granted 202 226 180 072 181 970 By virtue of 19 th resolution of the EGM of June 1, 2018 24 th resolution of the EGM of May 24, 2016 Deferred contribution Number of shares granted 5,932 6,784 10,393 Number of beneficiaries 1,187 1,360 2,086 End of the acquisition period June 6, 2024 May 3, 2023 April 26, 2022 Treasury shares Accounting policies Treasury shares of the parent company held by its subsidiaries or itself 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. TOTAL shares held by TOTAL S.A. As of December 31, Number of treasury shares 15,474,234 32,473,281 8,376,756 Percentage of share capital 0.59 % 1.23 % 0.33 % Of which shares acquired with the intention to cancel them 11,051,144 27,360,278 — Of which shares allocated to TOTAL share performance plans for Group employees 4,357,324 5,044,817 8,345,847 Of which shares intended to be allocated to new TOTAL share subscription or purchase options plans or to new share performance plans 65,766 68,186 30,909 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, 2019, paid-in surplus relating to TOTAL S.A. amounted to €35,415 million (€37,276 million as of December 31, 2018 and €32,882 million as of December 31, 2017). 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 the parent company would be taxed for an approximate amount of $575 million as of December 31, 2019 ($607 million as of December 31, 2018 and $750 million as of December 31, 2017) due to additional corporation tax applied on regulatory reserves so that they become distributable. Earnings per share Accounting policies Earnings per share is calculated by dividing net income (Group share) by the weighted-average number of common shares outstanding during the period, excluding TOTAL shares held by TOTAL S.A. (Treasury shares) which are deducted from consolidated shareholders’ equity. Diluted earnings per share is calculated by dividing net income (Group share) by the fully-diluted weighted-average number of common shares outstanding during the period. Treasury shares held by the parent company, TOTAL S.A. are deducted from consolidated shareholders’ equity. These shares are not considered outstanding for purposes of this calculation which also takes into account the dilutive effect of share subscription or purchase options plans, 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 respectively, as of December 31, respectively used in the calculation of earnings per share and fully-diluted earnings per share is detailed as follows: Number of shares as of January 1, 2,640,602,007 2,528,989,616 2,430,365,862 Number of shares issued during the year (pro rated) Exercise of TOTAL share subscription options 157,153 1,351,465 1,198,036 TOTAL performance shares 2,140,576 2,039,729 1,105,796 Capital increase reserved for employees 5,860,947 6,236,593 6,354,793 Issuance of shares in consideration for the acquisition of Maersk Olie og Gas A/S — 81,268,828 — Capital increase as payment of the scrip dividend 12,360,894 26,352,572 53,365,971 Buyback of treasury shares including: (27,026,481) (30,405,112) — Shares repurchased in during the fiscal year to cancel the dilution caused by the scrip dividend payment and within the framework of the share buyback program (24,818,443) (30,102,242) — Shares repurchased in during the fiscal year to cover for the stock options plans (2,208,038) (302,870) — TOTAL shares held by TOTAL S.A. or by its subsidiaries and deducted from shareholders’ equity (32,473,281) (8,376,756) (10,587,822) Weighted-average number of shares 2,601,621,815 2,607,456,934 2,481,802,636 Dilutive effect Grant of TOTAL share subscription or purchase options 33,636 296,830 727,864 Grant of TOTAL performance shares 14,593,030 13,794,896 10,238,411 Capital increase reserved for employees 1,759,407 2,167,784 1,987,502 Weighted-average number of diluted shares 2,618,007,888 2,623,716,444 2,494,756,413 Earnings per share in euros The earnings per share in euros, obtained from the earnings per share in dollars, converted by using the average exchange rate euro/dollar, is €3.75 per share for 2019 closing (€3.62 for 2018 closing). The fully-diluted earnings per share calculated by using the same method is €3.72 per share for 2019 closing (€3.59 for 2018 closing). Dividend As a reminder, the Board of Directors decided not to propose to the Shareholders’ Meeting, on May 29, 2019, the renewal of the scrip dividend option starting from the final dividend of the fiscal year 2018. Therefore, TOTAL S.A. has paid the first and second, and will pay the third, interim dividends for the fiscal year 2019 in cash according to the below timetable. Finally, on February 5, 2020, the Board of Directors, after approving the financial statements for the 2019 fiscal year, decided to propose to the Shareholders’ Meeting on May 29, 2020 the payment of a €2.68 dividend per share for the fiscal year 2019. Subject to the Shareholders’ decision, considering the first three interim dividends already decided by the Board of Directors, the final dividend for the fiscal year 2019 will be €0.68 per share, an increased amount of 3% to the first and second interim dividends and equal to the third interim dividend for the 2019 fiscal year. 2019 dividend First interim Second interim Third interim Final Amount € 0.66 € 0.66 € 0.68 € 0.68 Set date April 25th, 2019 July 24th, 2019 October 29th, 2019 May 29th, 2020 Ex-dividend date September 27th, 2019 January 6th, 2020 March 30th, 2020 June 29th, 2020 Payment date October 1st, 2019 January 8th, 2020 April 1st, 2020 July 1st, 2020 Issuances of perpetual subordinated notes In 2019, the Group issued perpetual subordinated notes in euro through TOTAL S.A.: - In parallel with this issuance, the Group tendered perpetual subordinated notes issued in 2015 (tranche of which the coupon is 2.250%) for an amount of €1,500 million. Following this transaction, the new nominal amount of the tranche tendered is €1,000 million and the Group’s total outstanding amount of perpetual subordinated notes remains unchanged. In 2018 nor in 2017, the Group did not issue any perpetual subordinated notes. In 2016, the Group issued three tranches of perpetual subordinated notes in euro through TOTAL S.A.: - Deeply subordinated notes 3.875% perpetual maturity callable after 6 years (€1,750 million); - Deeply subordinated notes 2.708% perpetual maturity callable after 6.6 years (€1,000 million); - Deeply subordinated notes 3.369% perpetual maturity callable after 10 years (€1,500 million). In 2015, the Group issued two tranches of perpetual subordinated notes in euro through TOTAL S.A.: - Deeply subordinated notes 2.250% perpetual maturity callable after 6 years (€2,500 million); - Deeply subordinated notes 2.625% perpetual maturity callable after 10 years (€2,500 million). 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, these notes were recorded in equity. As of December 31, 2019, the amount of perpetual deeply subordinated notes booked in the Group shareholders' equity is $10,333 million. The coupons attributable to the holders of these securities are recognized as a deduction from the Group shareholders' equity for an amount of $353 million for fiscal year 2019 closing. The tax saving due to these coupons is booked in the statement of income. Other comprehensive income Detail of other comprehensive income showing both items potentially reclassifiable and those not potentially reclassifiable from equity to net income is presented in the table below: For the year ended December 31, (M$) 2019 2018 2017 Actuarial gains and losses (192) (12) 823 Change in fair value of investments in equity instruments 142 — — Tax effect 53 13 (390) Currency translation adjustment generated by the parent company (1,533) (4,022) 9,316 Sub-total items not potentially reclassifiable to profit & loss (1,530) (4,021) 9,749 Currency translation adjustment 740 1,113 (2,578) – Unrealized gain/(loss) of the period 800 1,238 (2,408) – Less gain/(loss) included in net income 60 125 170 Available for sale financial assets — — 7 – Unrealized gain/(loss) of the period — — 7 – Less gain/(loss) included in net income — — — Cash flow hedge (599) 25 324 – Unrealized gain/(loss) of the period (552) (94) 584 – Less gain/(loss) included in net income 47 (119) 260 Variation of foreign currency basis spread 1 (80) — – Unrealized gain/(loss) of the period (57) (80) — – Less gain/(loss) included in net income (58) — — Share of other comprehensive income of equity affiliates, net amount 408 (540) (677) – Unrealized gain/(loss) of the period 421 (495) (655) – Less gain/(loss) included in net income 13 45 22 Other (3) (5) — Tax effect 202 14 (100) Sub-total items potentially reclassifiable to profit & loss 749 527 (3,024) Total other comprehensive income, net amount (781) (3,494) 6,725 The currency translation adjustment by currency is detailed in the following table: As of December 31, 2019 Pound Other (M$) Total Euro sterling Ruble currencies Currency translation adjustment generated by the parent company (1,533) (1,533) — — — Currency translation adjustment 740 636 138 7 (41) Currency translation adjustment of equity affiliates 607 149 (7) 530 (65) Total currency translation adjustment recognized in comprehensive income (186) (748) 131 537 (106) As of December 31, 2018 Pound Other (M$) Total Euro sterling Ruble currencies Currency translation adjustment generated by the parent company (4,022) (4,022) — — — Currency translation adjustment 1,113 1,883 (431) (10) (329) Currency translation adjustment of equity affiliates (564) 343 14 (805) (116) Total currency translation adjustment recognized in comprehensive income (3,473) (1,796) (417) (815) (445) As of December 31, 2017 Pound Other (M$) Total Euro sterling Ruble currencies Currency translation adjustment generated by the parent company 9,316 9,316 — — — Currency translation adjustment (2,578) (3,275) 462 3 232 Currency translation adjustment of equity affiliates (730) (1,099) (25) 207 187 Total currency translation adjustment recognized in comprehensive income 6,008 4,943 436 210 419 Tax effects relating to each component of other comprehensive income are as follows: 2019 2018 2017 For the year ended December 31, Pre-tax Tax Net Pre-tax Tax Net Pre-tax Tax Net (M$) amount effect amount amount effect amount amount effect amount Actuarial gains and losses (192) 55 (137) (12) 13 1 823 (390) 433 Change in fair value of investments in equity instruments 142 (2) 140 — — — — — — Currency translation adjustment generated by the parent company (1,533) — (1,533) (4,022) — (4,022) 9,316 — 9,316 Sub-total items not potentially reclassifiable to profit & loss (1,583) 53 (1,530) (4,034) 13 (4,021) 10,139 (390) 9,749 Currency translation adjustment 740 — 740 1,113 — 1,113 (2,578) — (2,578) Available for sale financial assets — — — — — — 7 (3) 4 Cash flow hedge (599) 202 (397) 25 (6) 19 324 (97) 227 Variation of foreign currency basis spread 1 — 1 (80) 20 (60) — — — Share of other comprehensive income of equity affiliates, net amount 408 — 408 (540) — (540) (677) — (677) Other (3) — (3) (5) — (5) — — — Sub-total items potentially reclassifiable to profit & loss 547 202 749 513 14 527 (2,924) (100) (3,024) Total other comprehensive income (1,036) 255 (781) (3,521) 27 (3,494) 7,215 (490) 6,725 Non-controlling interests As of December 31, 2019, no subsidiary has non-controlling interests that would be material to the Group financial statements. 9.2) Share-based payments Accounting policies The Group may grant employees share subscription or purchase options 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 restricted share 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 global cost is reduced to take into account the non-transferability over a 2-year holding period of the shares that could be awarded. 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 all the shares subscribed using both the classic and the leveraged schemes, and the opportunity gain for the shares subscribed using the leveraged scheme. 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. The global cost is reduced to take into account the non-transferability of the shares that could be subscribed by the employees over a period of five years. A. TOTAL share subscription or purchase option plans Weighted average 2009 Plan 2010 Plan 2011 Plan Total exercise price Date of the shareholders’ meeting 5/11/2007 5/21/2010 5/21/2010 Award date (a) 9/15/2009 9/14/2010 9/14/2011 Strike price 39.90 € 38.20 € 33.00 € Expiry date 9/15/2017 9/14/2018 9/14/2019 Number of options Existing options as of January 1, 2017 1,779,053 2,880,237 626,328 5,285,618 38.16 € Granted — — — — — Cancelled (b) (195,370) — — (195,370) 39.90 € Exercised (1,583,683) (929,865) (135,760) (2,649,308) 38.95 € Existing options as of January 1, 2018 — 1,950,372 490,568 2,440,940 37.15 € Granted — — — — — Cancelled (b) — (79,139) — (79,139) 38.20 € Exercised — (1,871,233) (225,338) (2,096,571) 37.64 € Existing options as of January 1, 2019 — — 265,230 265,230 33.00 € Granted — — — — — Cancelled (b) — — (1,000) (1,000) 33.00 € Exercised — — (264,230) (264,230) 33.00 € Existing options as of December 31, 2019 — — — — n/a (a) The grant date is the date of the Board meeting awarding the share subscription or purchase options. (b) Out of the options canceled in 2017 2018 and 2019, (i) 195,370 options were early canceled or expired on September 15, 2017 due to expiry of 2009 plan, (ii) 79,139 options that were not exercised expired on September 14, 2018 due to expiry of 2010 plan and (iii) 1,000 options that were not exercised expired on September 14, 2019 due to expiry of 2011 plan. Options are exercisable, subject to a presence condition, after a 2-year period from the date of the Board meeting awarding the options and expire eight years after this date. The underlying shares cannot be transferred during four years from the date of grant. For the 2009 to 2011 Plans, the 4‑year transfer restriction period does not apply to employees of non-French subsidiaries as of the date of the grant, who may transfer the underlying shares after a 2-year period from the date of the grant. Since the 2011 Plan, the Board of Directors has not decided any new grant of TOTAL share subscription or purchase option plan and all the options issued prior to 2011 Plan have now expired. In addition, the authorisation granted by the Combined General Meeting of May 24, 2016 to grant share subscription or purchase options for a period of thirty-eight months, has expired and has not been renewed. B. TOTAL performance share plans 2014 Plan 2015 Plan 2016 Plan 2017 Plan 2018 Plan 2019 Plan Total Date of the shareholders’ meeting 5/16/2014 5/16/2014 5/24/2016 5/24/2016 5/24/2016 6/1/2018 Award date 7/29/2014 7/28/2015 7/27/2016 7/26/2017 3/14/2018 3/13/2019 Date of the final award (end of the vesting period) 7/30/2017 7/29/2018 7/28/2019 7/27/2020 3/15/2021 3/14/2022 Transfer authorized as from 7/30/2019 7/29/2020 7/29/2021 7/28/2022 3/16/2023 3/15/2024 Grant date IFRS 2 fair value 44.66 € 35.90 € 35.37 € 35.57 € 36.22 € 40.11 € Number of performance shares Outstanding as of January 1, 2017 4,364,500 4,730,735 5,637,560 — — — 14,732,795 Notified — — — 5,679,949 — — 5,679,949 Cancelled (2,157,820) (31,480) (29,050) (910) — — (2,219,260) Finally granted (2,206,680) (1,950) (1,410) — — — (2,210,040) Outstanding as of January 1, 2018 — 4,697,305 5,607,100 5,679,039 — — 15,983,444 Notified — — — — 6,083,145 — 6,083,145 Cancelled — (621,568) (61,840) (26,640) (12,350) — (722,398) Finally granted — (4,075,737) (2,040) (1,480) — — (4,079,257) Outstanding as of January 1, 2019 — — 5,543,220 5,650,919 6,070,795 — 17,264,934 Notified — — — — — 6,447,069 6,447,069 Cancelled — — (1,267,392) (41,220) (41,260) (39,246) (1,389,118) Finally granted — — (4,275,828) (1,840) (1,100) (180) (4,278,948) Outstanding as of December 31, 2019 — — — 5,607,859 6,028,435 6,407,643 18,043,937 The performance shares, which are bought back by the TOTAL S.A. 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 one performance condition for the 2014 plan, two performance conditions for the 2015, 2016, 2017 and 2018 plans and three performance conditions for the 2019 Plan Moreover, the transfer of the performance shares finally granted will not be permitted until the end of a 2-year holding period from the date of the final grant. 2019 Plan On March 13, 2019, the Board of Directors granted performance shares to certain employees and executive directors of the Company or Group companies, subject to the fulfilment of the continued employment condition and three performance conditions. The presence condition applies to all shares. The performance conditions apply for all shares granted to senior executives. The grant of the first 150 shares to non-senior executive are not subject to the performance condition abovementioned, but the performance conditions will apply to any shares granted above this threshold. The definitive number of granted shares will be based on the TSE (Total Shareholder Return), the annual variation of the net cash flow by share in dollars, as well as the pre-dividend organic cash breakeven, for fiscal years 2019, 2020 and 2021, applied as follows: - for 1/3 of the shares, the Company will be ranked against its peers (ExxonMobil, Royal Dutch Shell, BP and Chevron) each year during the three vesting years (2019, 2020 and 2021) based on the TSR criterion of the last quarter of the year in question, the dividend being considered reinvested based on the closing price on the ex-dividend date. - for 1/3 of the shares, the Company will be ranked each year against its peers (ExxonMobil, Royal Dutch Shell, BP and Chevron) during the three vesting years (2019, 2020 and 2021) using the annual variation in net cash flow per share criterion expressed in dollar. Based on the ranking, a grant rate will be determined for each year for these two first criteria: Ranking Grant rate 1 st place 180% 2 nd place 130% 3 rd place 80% 4 th and 5 th places 0% • 1 covers the organic investments 2 . The ability of the Group to resist to the variations of the Brent barrel price is measured by this parameter. - - - A grant rate will be determined for each year. For each of the three criteria, the average of the three grant rates obtained (for each of the three fiscal years for which the performance conditions are assessed) will be rounded to the nearest 0.1 whole percent (0.05% being rounded to 0.1%) and capped at 100%. Each criterion will have a weight of 1/3 in the definitive grant rate. The definitive grant rate will be rounded to the nearest 0.1 whole percent (0.05% being rounded to 0.1%). The number of shares definitively granted, after confirmation of the performance conditions, will be rounded up to the nearest whole number of shares in case of a fractional share. C. SunPower plans During fiscal 2019, SunPower had one stock incentive plan: the SunPower Corporation 2015 Omnibus Incentive Plan ("2015 Plan"). The 2015 Plan was adopted by the SunPower’s Board of Directors in February 2015, and was approved by shareholders in June 2015.The 2015 Plan allows for the grant of options, as well as grant of stock appreciation rights, restricted stock grants, restricted stock units and other equity rights. The 2015 Plan also allows for tax withholding obligations related to stock option exercises or restricted stock awards to be satisfied through the retention of shares otherwise released upon vesting. The 2015 Plan includes an automatic annual increase mechanism equal to the lower of three percent of the outstanding shares of all classes of the SunPower’s common stock measured on the last day of the immediately preceding fiscal year, 6 million shares, or such other number of shares as determined by SunPower’s Board of Directors. In fiscal 2015, the SunPower’s Board of Directors voted to reduce the stock incentive plan’s automatic increase from 3% to 2% for 2016. As of December 31, 2019, approximately 12.1 million shares were available for grant under the 2015 Plan. Incentive stock options, nonstatutory stock options, and stock appreciation rights may be granted at no less than the fair value of the common stock on the date of grant. The options and rights become exercisable when and as determined by SunPower’s Board of Directors, although these terms generally do not exceed ten years for stock options. SunPower has not granted stock options since fiscal 2008. All previously granted stock options have been exercised or expired and accordingly no options remain outstanding. Under the 2015 Plan, the restricted stock grants and restricted stock units typically vest in equal installments annually over three or four years. 1 The operating cash flow before working capital changes is defined as cash flow from operating activities before changes in capital at replacement cost. 2 Organic investments: net investments excluding acquisitions, asset sales and other operations with non-controlling interests. The majority of shares issued are net of the minimum statutory withholding requirements that SunPower pays on behalf of its employees. During fiscal 2019, 2018, and 2017, SunPower withheld 0.8 million, 0.7 million and 0.6 million shares, respectively, to satisfy the employees' tax obligations. SunPower pays such withholding requirements in cash to the appropriate taxing authorities. Shares withheld are treated as common stock repurchases for accounting and disclosure purposes and reduce the number of shares outstanding upon vesting. There were no options outstanding and exercisable as of December 31, 2019. The intrinsic value of the options exercised in fiscal 2019, 2018, and 2017 were zero, zero, and $1.7 respectively. There were no stock options granted in fiscal 2019, 2018, and 2017. The following table summarizes SunPower’s restricted stock activities: Restricted Stock Awards and Units Weighted-Average Grant Date Fair Value Per Share Shares (in thousands) (in dollars) (a) Outstanding as of January 1st, 2017 6,147 21.85 Granted 4,863 6.76 Vested (b) (1,738) 25.87 Forfeited (1,979) 18.15 Outstanding as of January 1st, 2018 7,293 11.83 Granted 4,449 7.77 Vested (b) (2,266) 14.45 Forfeited (1,816) 10.10 Outstanding as of January 1st, 2019 7,660 9.11 Granted 5,430 6.82 Vested (b) (2,460) 9.65 Forfeited (1,304) 8.28 Outstanding as of December 31, 2019 9,326 7.75 (a) SunPower estimates the fair value of the restricted stock unit awards as the stock price on the grant date. (b) Restricted stock awards and units vested include shares withheld on behalf of employees to satisfy the minimum statutory tax withholding requirements. D. Share-based payment expense Share-based payment expense before tax was broken down as follows: As of December 31, (M$) Total restricted shares plans 180 264 135 SunPower plans 26 21 31 Capital increase reserved for employees 27 30 16 Total 233 315 182 During the year 2019, the main assumptions used for the valuation of the cost of the capital increase reserved for employees for both the classic and the leverage schemes were the following: For the year ended December 31, Date of the Board of Directors meeting that decided the issue September 19, 2018 Subscription price (€) (a) Share price at the reference date (€) (b) Number of shares (in millions) Risk free interest rate |
Payroll, staff and employee ben
Payroll, staff and employee benefits obligations | 12 Months Ended |
Dec. 31, 2019 | |
Payroll, staff and employee benefits obligations | |
Payroll, staff and employee benefits obligations | 10) Payroll, staff and employee benefits obligations 10.1) Employee benefits obligations Accounting policies In accordance with the laws and practices of each country, the Group 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-Group 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$) Pension benefits liabilities 2,651 2,545 2,877 Other benefits liabilities 742 669 705 Restructuring reserves (early retirement plans) 108 149 153 Total 3,501 3,363 3,735 Net liabilities relating to assets held for sale — — — Description of plans and risk management The Group operates, for the benefit of its current and former employees, both defined benefit plans and defined contribution plans. The Group recognized a charge of $133 million for defined contribution plans in 2019 ($130 million in 2018 and $128 million in 2017). The Group’s main defined benefit pension plans are located in France, the United Kingdom, the United States, Belgium and Germany. Their main characteristics, depending on the country-specific regulatory environment, are the following: · the benefits are usually based on the final salary and seniority; · they are usually funded (pension fund or insurer); · they are usually closed to new employees who benefit from defined contribution pension plans; · they are paid in annuity or in lump sum. The pension benefits include also termination indemnities and early retirement benefits. The other benefits are employer contributions to post-employment medical care. In order to manage the inherent risks, the Group has implemented a dedicated governance framework to ensure the supervision of the different plans. These governance rules provide for: · the Group’s representation in key governance bodies or monitoring committees; · the principles of the funding policy; · the general investment policy, including for most plans the establishment of a monitoring committee to define and follow the investment strategy and performance and to ensure the principles in respect of investment allocation are respected; · a procedure to approve the establishment of new plans or the amendment of existing plans; · principles of administration, communication and reporting. Change in benefit obligations and plan assets The fair value of the defined benefit obligation and plan assets in the Consolidated Financial Statements is detailed as follows: As of December 31, Pension benefits Other benefits (M$) Change in benefit obligation Benefit obligation at beginning of year 11,501 12,872 12,164 669 705 648 Current service cost 214 236 263 13 14 16 Interest cost 295 296 320 17 17 17 Past service cost 4 (1) 239 — (2) 12 Settlements (20) (141) (1) (9) — — Plan participants' contributions 7 8 7 — — — Benefits paid (667) (902) (717) (26) (28) (27) Actuarial losses / (gains) 847 (372) (450) 87 (29) (36) Foreign currency translation and other 104 (495) 1,047 (9) (8) 75 Benefit obligation at year-end 12,285 11,501 12,872 742 669 705 Of which plans entirely or partially funded 11,584 10,864 12,140 — — — Of which plans not funded 701 637 732 742 669 705 Change in fair value of plan assets Fair value of plan assets at beginning of year (9,145) (10,205) (9,123) — — — Interest income (255) (261) (256) — — — Actuarial losses / (gains) (745) 424 (344) — — — Settlements 11 129 — — — — Plan participants’ contributions (7) (8) (7) — — — Employer contributions (172) (417) (171) — — — Benefits paid 573 778 591 — — — Foreign currency translation and other (29) 415 (895) — — — Fair value of plan assets at year-end (9,769) (9,145) (10,205) — — — — Unfunded status 2,516 2,356 2,667 742 669 705 Asset ceiling 34 28 40 — — — Net recognized amount 2,550 2,384 2,707 742 669 705 Pension benefits and other benefits liabilities 2,651 2,545 2,877 742 669 705 Other non-current assets (101) (161) (170) — — — Net benefit liabilities relating to assets held for sale — — — — — — As of December 31, 2019, the contribution from the main geographical areas for the net pension liability in the balance sheet is: 70% for the Euro area, 11% for the United Kingdom and 16% 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$) Current service cost 214 236 263 13 14 16 Past service cost 4 (1) 239 — (2) 12 Settlements (10) (12) (1) (9) — — Net interest cost 39 35 64 17 17 17 Benefit amounts recognized on Profit & Loss 247 258 565 21 29 45 - Actuarial (Gains) / Losses * Effect of changes in demographic assumptions (166) (1) (16) (2) (21) 3 * Effect of changes in financial assumptions 1,071 (354) (241) 89 (3) (5) * Effect of experience adjustments (59) (17) (193) — (5) (34) * Actual return on plan assets (745) 424 (344) — — — - Effect of asset ceiling 3 (11) 7 — — — Benefit amounts recognized on Equity 104 41 (787) 87 (29) (36) Total benefit amounts recognized on comprehensive income 351 299 (222) 108 — 9 Expected future cash outflows The average duration of accrued benefits is approximately 13 years for defined pension benefits and 18 years for other benefits. The Group expects to pay contributions of $239 million in respect of funded pension plans in 2020. Estimated future benefits either financed from plan assets or directly paid by the employer are detailed as follows: Estimated future payments (M$) Pension benefits Other benefits 2020 741 27 2021 497 27 2022 467 27 2023 414 26 2024 399 26 2025-2029 2,142 120 Type of assets Asset allocation Pension benefits As of December 31, Equity securities 25 % 24 % 26 % Debt securities 46 % 47 % 43 % Monetary 1 % 1 % 3 % Annuity contracts 20 % 20 % 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, Discount rate (weighted average for all regions) 1.84 % 2.68 % 2.48 % 1.71 % 2.56 % 2.52 % Of which Euro zone 0.73 % 1.72 % 1.71 % 0.94 % 1.87 % 1.93 % Of which United States 3.25 % 4.00 % 3.75 % 3.25 % 4.00 % 3.75 % Of which United Kingdom 2.25 % 3.00 % 2.50 % — — — Inflation rate (weighted average for all regions) 2.20 % 2.44 % 2.40 % — — — Of which Euro zone 1.21 % 1.50 % 1.50 % — — — Of which United States 2.50 % 2.50 % 2.50 % — — — Of which United Kingdom 3.25 % 3.50 % 3.50 % — — — 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$) 0.5% Increase 0.5% Decrease Benefit obligation as of December 31, 2019 (821) 915 A 0.5% increase or decrease in inflation rates – all other things being equal - would have the following approximate impact on the benefit obligation: (M$) 0.5% Increase 0.5% Decrease Benefit obligation as of December 31, 2019 576 (516) 10.2) Payroll and staff For the year ended December 31, Personnel expenses (M$) Wages and salaries (including social charges) 8,922 9,099 7,985 Group employees at December 31, France ● Management 13,745 13,377 11,880 ● Other 22,531 22,629 19,372 International ● Management 16,924 16,963 16,489 ● Other 54,576 51,491 50,536 Total 107,776 104,460 98,277 The number of employees includes only employees of fully consolidated subsidiaries. |
Income taxes
Income taxes | 12 Months Ended |
Dec. 31, 2019 | |
Income taxes | |
Income taxes | 11) Income taxes Accounting policies Income taxes disclosed in the statement of income include the current tax expenses (or income) and the deferred tax expenses (or income). The expense (or income) of current tax is the estimated amount of the tax due for the taxable income of the period. The Group uses the method whereby deferred income taxes are recorded based on the temporary differences between the carrying amounts of assets and liabilities recorded in the balance sheet and their tax bases, and on carry-forwards of unused tax losses and tax credits. Deferred tax assets and liabilities are measured using the tax rates that have been enacted or substantially enacted at the balance sheet date. The tax rates used depend on the timing of reversals of temporary differences, tax losses and other tax credits. The effect of a change in tax rate is recognized either in the Consolidated Statement of Income or in shareholders’ equity depending on the item it relates to. Deferred tax resulting from temporary differences between the carrying amounts of equity-method investments and their tax bases are recognized. The deferred tax calculation is based on the expected future tax effect (dividend distribution rate or tax rate on capital gains). Income taxes are detailed as follows: For the year ended December 31, (M$) Current income taxes (5,469) (6,971) (3,416) Deferred income taxes (403) 455 387 Total income taxes (5,872) (6,516) (3,029) Before netting deferred tax assets and liabilities by fiscal entity, the components of deferred tax balances are as follows: As of December 31, (M$) Net operating losses and tax carry forwards 3,752 3,779 3,014 Employee benefits 970 995 1,153 Other temporary non-deductible provisions 8,660 8,409 6,344 Differences in depreciations (16,029) (15,469) (13,387) Other temporary tax deductions (2,995) (2,541) (2,746) Net deferred tax liability (5,642) (4,827) (5,622) The reserves of TOTAL 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 $11,197 million as of December 31, 2019. Deferred tax assets not recognized as of December 31, 2019 amount to $3,479 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 $1,145 million, to United States for an amount of $319 million, to Nigeria for an amount of $303 million and to Canada for an amount of $206 million. After netting deferred tax assets and liabilities by fiscal entity, deferred taxes are presented on the balance sheet as follows: As of December 31, (M$) Deferred tax assets 6,216 6,663 5,206 Deferred tax liabilities (11,858) (11,490) (10,828) Net amount (5,642) (4,827) (5,622) The net deferred tax variation in the balance sheet is analyzed as follows: As of December 31, (M$) Opening balance (4,827) (5,622) (6,692) Deferred tax on income (403) 455 387 Deferred tax on shareholders' equity (a) 255 27 (490) Changes in scope of consolidation and others (695) 151 1,154 Currency translation adjustment 28 162 19 Closing balance (5,642) (4,827) (5,622) (a) This amount includes mainly deferred taxes on actuarial gains and losses, current income taxes and deferred taxes for changes in fair value of listed securities classified as financial assets available for sale, as well as deferred taxes related to the cash flow hedge (see Note 9 to the Consolidated Financial Statements). Reconciliation between provision for income taxes and pre-tax income: For the year ended December 31, (M$) Consolidated net income 11,438 11,550 8,299 Provision for income taxes 5,872 6,516 3,029 Pre-tax income 17,310 18,066 11,328 French statutory tax rate 34.43 % 34.43 % 44.43 % Theoretical tax charge (5,960) (6,220) (5,033) Difference between French and foreign income tax rates (2,007) (3,058) (633) Tax effect of equity in income (loss) of affiliates 1,173 1,080 888 Permanent differences 1,422 1,740 1,491 Adjustments on prior years income taxes 12 (40) (91) Adjustments on deferred tax related to changes in tax rates (270) 2 (309) Changes in valuation allowance of deferred tax assets (242) (20) 658 Net provision for income taxes (5,872) (6,516) (3,029) The French statutory tax rate includes the standard corporate tax rate (33.33%), additional and exceptional applicable taxes that bring the overall tax rate to 34.43% in 2019 (versus 34.43% in 2018 and 44.43% in 2017). 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. Net operating losses and carried forward tax credits Deferred tax assets related to carried forward tax credits on net operating losses expire in the following years: As of December 31, (M$) 2019 2018 2017 2018 75 2019 90 64 2020 71 70 60 2021 48 38 24 2022 (a) 27 32 1,330 2023 (b) 19 1,423 2024 and after 1,310 Unlimited 2,277 2,126 1,461 Total 3,752 3,779 3,014 (a) 2022 and after for 2017. (b) 2023 and after for 2018. As of December 31, 2019 the schedule of deferred tax assets related to carried forward tax credits on net operating losses for the main countries is as follows: Tax As of December 31, 2019 United United (M$) Australia States Canada France Kingdom 2020 2021 2022 2023 2024 and after 595 675 Unlimited 1,057 120 520 313 Total 1,057 715 675 520 313 |
Provisions and other non-curren
Provisions and other non-current liabilities | 12 Months Ended |
Dec. 31, 2019 | |
Provisions and other non-current liabilities | |
Provisions and other non-current liabilities | 12) Provisions and other non-current liabilities 12.1) Provisions and other non-current liabilities Accounting policies A provision is recognized when the Group 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$) Litigations and accrued penalty claims 386 736 706 Provisions for environmental contingencies 742 862 964 Asset retirement obligations 14,492 14,286 12,240 Other non-current provisions 2,927 3,144 1,370 of which restructuring activities 135 134 160 of which financial risks related to non-consolidated and equity consolidated affiliates 130 100 59 of which contingency reserve on solar panels warranties (SunPower) 140 173 177 Other non-current liabilities 2,066 2,404 706 Total 20,613 21,432 15,986 In 2019, litigation reserves amount to $386 million of which $286 million in the Exploration & Production. In 2018, litigation reserves amounted to $736 million of which $510 million in the Exploration & Production, notably in Angola, Nigeria and Brazil. In 2017, litigation reserves amounted to $706 million of which $458 million was in the Exploration & Production, notably in Angola and Nigeria. Other non-current liabilities mainly include debts whose maturity is more than one year related to fixed assets acquisitions. Changes in provisions and other non-current liabilities Changes in provisions and other non-current liabilities are as follows: Currency As of translation As of (M$) January, 1st Allowances Reversals adjustment Other December, 31 2019 21,432 1,248 (2,414) (33) 380 20,613 of which asset retirement obligations 639 (460) of which provisions for environmental contingencies 30 (92) of which provisions for restructuring of activities 60 (122) 2018 15,986 2,416 (1,378) (519) 4,927 21,432 of which asset retirement obligations 530 (320) of which provisions for environmental contingencies 33 (111) of which provisions for restructuring of activities 149 (106) 2017 16,846 1,172 (1,612) 681 (1,101) 15,986 of which asset retirement obligations 544 (330) of which provisions for environmental contingencies 37 (120) of which provisions for restructuring of activities 48 (84) Changes in the asset retirement obligation Accounting policies 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 risk-free 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 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 in 2019 for the valuation of asset retirement obligation is 4.5% as in 2018 and 2017 (the expenses are estimated at current currency values with an inflation rate of 2%). A decrease of 0.5% of this rate would increase the asset retirement obligation by $1,250 million, with a corresponding impact in tangible assets, and with a negative impact of approximately $74 million on the following years net income. Conversely, an increase of 0.5% would have a nearly symmetrical impact compared to the effect of the decrease of 0.5%. Changes in the asset retirement obligation are as follows: Spending on Currency As of Revision in New existing translation As of (M$) January 1, Accretion estimates obligations obligations adjustment Other December 31, 2019 14,286 639 (601) 567 (460) 47 14 14,492 2018 12,240 530 (458) 811 (320) (364) 1,847 14,286 2017 12,665 544 (1,107) 334 (330) 448 (314) 12,240 12.2) Other risks and contingent liabilities TOTAL is not currently aware of any exceptional event, dispute, risks or contingent liabilities that could have a material impact on the assets and liabilities, results, financial position or operations of the Group. |
Off balance sheet commitments a
Off balance sheet commitments and lease contracts | 12 Months Ended |
Dec. 31, 2019 | |
Off balance sheet commitments and lease contracts | |
Off balance sheet commitments and lease contracts | 13) Off balance sheet commitments and lease contracts 13.1) Off balance sheet commitments and contingencies Maturity and installments As of December 31, 2019 Less than 1 Between 1 More than 5 (M$) Total year and 5 years years Non-current debt obligations net of hedging instruments (Note 15) 40,931 — 19,888 21,043 Current portion of non-current debt obligations net of hedging instruments (Note 15) 5,331 5,331 — — Lease obligations (Note 13.2) 7,465 1,202 2,883 3,380 Asset retirement obligations (Note 12) 14,492 617 3,153 10,722 Contractual obligations recorded in the balance sheet 68,219 7,150 25,924 35,145 Lease obligations for low value assets, short term contracts or not yet commenced (Note 13.2) 2,077 536 879 662 Purchase obligations 147,516 10,763 38,189 98,564 Contractual obligations not recorded in the balance sheet 149,593 11,299 39,068 99,226 Total of contractual obligations 217,812 18,449 64,992 134,371 Guarantees given for excise taxes 2,012 1,876 17 119 Guarantees given against borrowings 14,510 306 7,372 6,832 Indemnities related to sales of businesses 331 163 16 152 Guarantees of current liabilities 172 79 60 33 Guarantees to customers / suppliers 12,318 1,435 2,169 8,714 Letters of credit 2,786 2,768 18 — Other operating commitments 22,055 3,240 1,202 17,613 Total of other commitments given 54,184 9,867 10,854 33,463 Mortgages and liens received 85 23 37 25 Sales obligations 93,441 7,135 31,330 54,976 Other commitments received 22,358 16,845 1,705 3,808 Total of commitments received 115,884 24,003 33,072 58,809 Of which commitments given relating to joint ventures 39,055 461 11,822 26,772 Of which commitments given relating to associates 31,465 913 8,381 22,171 Maturity and installments As of December 31, 2018 Less than 1 Between 1 More than 5 (M$) Total year and 5 years years Non-current debt obligations net of hedging instruments (Note 15) 37,784 — 19,072 18,712 Current portion of non-current debt obligations net of hedging instruments (Note 15) 5,027 5,027 — — Finance lease obligations (Note 13.2) 1,878 213 468 1,197 Asset retirement obligations (Note 12) 14,286 844 3,388 10,054 Contractual obligations recorded in the balance sheet 58,975 6,084 22,928 29,963 Operating lease obligations (Note 13.2) 9,130 1,644 3,690 3,796 Purchase obligations 121,119 9,708 30,652 80,759 Contractual obligations not recorded in the balance sheet 130,249 11,352 34,343 84,554 Total of contractual obligations 189,224 17,436 57,271 114,517 Guarantees given for excise taxes 2,043 1,904 12 127 Guarantees given against borrowings 18,680 169 68 18,443 Indemnities related to sales of businesses 334 165 10 159 Guarantees of current liabilities 222 83 74 65 Guarantees to customers / suppliers 8,463 1,222 847 6,394 Letters of credit 3,515 3,164 160 191 Other operating commitments 29,416 2,085 1,046 26,285 Total of other commitments given 62,673 8,792 2,217 51,664 Mortgages and liens received 84 23 33 28 Sales obligations 91,695 7,989 27,709 55,997 Other commitments received 21,565 15,527 1,328 4,710 Total of commitments received 113,344 23,539 29,070 60,735 Of which commitments given relating to joint ventures 42,768 162 4,425 38,181 Of which commitments given relating to associates 39,437 773 8,378 30,286 Maturity and installments As of December 31, 2017 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) 39,544 — 19,540 20,004 Current portion of non-current debt obligations net of hedging instruments (Note 15) 4,646 4,646 — — Finance lease obligations (Note 13.2) 1,156 39 261 856 Asset retirement obligations (Note 12) 12,240 485 2,165 9,590 Contractual obligations recorded in the balance sheet 57,586 5,170 21,966 30,450 Operating lease obligations (Note 13.2) 6,441 1,401 2,887 2,153 Purchase obligations 86,366 8,605 23,917 53,844 Contractual obligations not recorded in the balance sheet 92,807 10,006 26,803 55,998 Total of contractual obligations 150,393 15,176 48,769 86,448 Guarantees given for excise taxes 2,073 1,938 29 106 Guarantees given against borrowings 16,080 411 10,607 5,062 Indemnities related to sales of businesses 341 120 61 160 Guarantees of current liabilities 321 91 109 121 Guarantees to customers / suppliers 4,180 1,100 268 2,812 Letters of credit 2,965 2,680 102 183 Other operating commitments 17,431 1,165 637 15,629 Total of other commitments given 43,391 7,505 11,813 24,073 Mortgages and liens received 89 23 26 40 Sales obligations 67,014 6,263 21,513 39,238 Other commitments received 7,398 3,549 1,111 2,738 Total of commitments received 74,501 9,835 22,650 42,016 Of which commitments given relating to joint ventures 36,847 160 12,225 24,462 Of which commitments given relating to associates 20,629 580 5,991 14,058 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 $6,263 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 $1,202 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. Guarantees given for excise taxes These consist of guarantees given by the Group 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 against borrowings The Group 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, 2019, the maturities of these guarantees are up to 2043. As of December 31, 2019, the guarantees provided by TOTAL S.A. in connection with the financing of the Ichthys LNG project amount to $4,937 million. As of December 31, 2018, the guarantees amounted to $9,425 million. As of December 31, 2019, the guarantees provided by TOTAL S.A. in connection with the financing of the Yamal LNG project for an amount of $3,688 million by TOTAL S.A. As of December 31, 2018, the guarantees amounted to $3,875 million. As of December 31, 2019, TOTAL S.A. has confirmed guarantees for TOTAL Refining SAUDI ARABIA SAS shareholders' advances for an amount of $1,184 million. As of December 31, 2018, the guarantees amounted to $1,462 million. As of December 31, 2019, the guarantee given in 2008 by TOTAL S.A. in connection with the financing of the Yemen LNG project amounts to $509 million. As of December 31, 2018, the guarantee amounted to $551 million. As of December 31, 2019, guarantees provided by TOTAL S.A. in connection with the financing of the Bayport Polymers LLC project, amount to $1,820 million as in 2018. Indemnities related to sales of businesses In the ordinary course of business, the Group 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, dealer, supplier, and other 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. The Group regularly evaluates the probability of having to incur costs associated with these indemnities. Other guarantees given Non-consolidated subsidiaries The Group 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 and recognized industry practices, the Group 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. Sales obligations These amounts represent binding obligations under contractual agreements to sell goods, including in particular unconditional 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. 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 the Group. 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. The Group mainly leases real estate, retail stations, ships, and other equipment (see Note 7 to the Consolidated Financial Statements). Note 1 explains the impacts of the first-time application of IFRS 16 as at 1 January 2019. Reconciliation between the operating lease commitments disclosed under IAS 17 at December 31, 2018 and the additional lease liabilities recognized on the balance sheet at January 1, 2019 The reconciliation is as follows: January 1, M$ 2019 Operating lease commitments at December 31, 2018 9,130 Commitments relating to IFRS 16 exemptions: (417) - Low value assets (90) - Short-term leases (327) Leases not yet commenced at January 1, 2019 (608) Commitments relating to service component of lease contracts (760) Commitments relating to leases of non identified assets (628) Variable lease payments (6) Other impacts 204 Impact of discounting (1,360) Additional lease liability 5,555 Finance lease liability at December 31, 2018 1,878 Total lease liability at January 1, 2019 7,433 Other information required on lease debts, notably their maturity, is presented in Note 15 to the consolidated financial statements. The future minimum lease payments on leases to which the Group is committed are as follows: For the year ended December 31, 2019 Leases not recorded in Leases recorded in (M$) balance sheet balance sheet 2020 536 1,586 2021 360 1,228 2022 212 1,019 2023 162 835 2024 145 766 2025 and beyond 662 4,757 Total minimum payments 2,077 10,191 Less financial expenses (2,726) Nominal value of contracts 7,465 Less current portion of lease contracts (1,202) Non-current lease liabilities 6,263 For the year ended December 31, 2018 (M$) Operating leases Finance leases 2019 1,644 263 2020 1,282 183 2021 967 182 2022 772 179 2023 669 179 2024 and beyond 3,796 1,826 Total minimum payments 9,130 2,812 Less financial expenses (934) Nominal value of contracts 1,878 Less current portion of finance lease contracts (213) Non-current finance lease liabilities 1,665 For the year ended December 31, 2017 (M$) Operating leases Finance leases 2018 1,401 76 2019 988 67 2020 814 67 2021 623 65 2022 462 65 2023 and beyond 2,153 864 Total minimum payments 6,441 1,204 Less financial expenses (48) Nominal value of contracts 1,156 Less current portion of finance lease contracts (39) Non-current finance lease liabilities 1,117 For the year ended December 31, 2019, net rental expense recorded in the income statement and incurred under short term leases or low value assets leases and under variable lease payments is $366 million and $132 million, respectively. Net rental expense recorded in the income statement and incurred under operating leases for the year ended December 31, 2018 is $1,304 million (against $1,467 million in 2017). |
Financial assets and liabilitie
Financial assets and liabilities analysis per instrument class and strategy | 12 Months Ended |
Dec. 31, 2019 | |
Financial assets and liabilities analysis per instrument class and strategy | |
Financial assets and liabilities analysis per instrument class and strategy | 14) Financial assets and liabilities analysis per instrument class and strategy The financial assets and liabilities disclosed in the balance sheet are detailed as follows: As of December 31, 2019 Other (M$) Fair value through Comprehensive Fair value of Assets/(Liabilities) Amortized cost P&L Income hedging instruments Total Fair value Equity affiliates: loans 3,999 — — — 3,999 3,999 Other investments — 1,272 506 — 1,778 1,778 Non-current financial assets 164 236 — 512 912 912 Other non-current assets 2,314 — — — 2,314 2,314 Accounts receivable, net (b) 18,488 — — — 18,488 18,488 Other operating receivables 6,713 4,791 — 2 11,506 11,506 Current financial assets 3,870 122 — — 3,992 3,992 Cash and cash equivalents 27,352 — — — 27,352 27,352 Total financial assets 62,900 6,421 506 514 70,341 70,341 Total non-financial assets 202,953 — Total assets 273,294 — Non-current financial debt (a) (46,035) (44) — (1,694) (47,773) (50,921) Accounts payable (b) (28,394) — — — (28,394) (28,394) Other operating liabilities (10,927) (5,333) — (2) (16,262) (16,262) Current borrowings (a) (14,819) — — — (14,819) (14,819) Other current financial liabilities — (63) — (424) (487) (487) Total financial liabilities (100,175) (5,440) — (2,120) (107,735) (110,883) Total non-financial liabilities (165,559) — Total liabilities (273,294) — (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 $(2,073) million and $2,073 million on accounts payable. As of December 31, 2018 Fair value through (M$) Fair value through OCI - equity Fair value of Assets / (Liabilities) Amortized cost P&L instruments instruments hedge Total Fair value Equity affiliates: loans 4,755 — — — 4,755 4,755 Other investments — 1,059 362 — 1,421 1,421 Non-current financial assets — 67 — 613 680 680 Other non-current assets 2,348 — — — 2,348 2,348 Accounts receivable, net (b) 17,270 — — — 17,270 17,270 Other operating receivables 6,994 2,731 — 8 9,733 9,733 Current financial assets 3,536 73 — 45 3,654 3,654 Cash and cash equivalents 27,907 — — — 27,907 27,907 Total financial assets 62,810 3,930 362 666 67,768 67,768 Total non-financial assets 188,994 Total assets 256,762 Non-current financial debt (a) (38,220) (29) — (1,880) (40,129) (41,281) Accounts payable (b) (26,134) — — — (26,134) (26,134) Other operating liabilities (9,854) (3,429) — (3) (13,286) (13,286) Current borrowings (a) (13,306) — — — (13,306) (13,306) Other current financial liabilities — (183) — (295) (478) (478) Total financial liabilities (87,514) (3,641) — (2,178) (93,333) (94,485) Total non-financial liabilities (163,429) Total liabilities (256,762) (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 $(2,903) million and $2,903 million on accounts payable. Financial instruments related to financing and operational activities Fair value Other Net financial As of December 31, 2017 Hedging of investment instruments (M$) Amortized Available Held for Financial Financial Cash flow hedge and Amortized Assets / (Liabilities) cost for sale (a) trading debt (b) Debt hedge other cost Total Fair value Equity affiliates: loans 5,135 — — — — — — — 5,135 5,135 Other investments — 1,727 — — — — — — 1,727 1,727 Non-current financial assets — — 73 — 337 269 — — 679 679 Other non-current assets 3,765 50 — — — — — — 3,815 3,815 Accounts receivable, net (c) — — — — — — — 14,893 14,893 14,893 Other operating receivables — — 1,977 — — 12 — 7,347 9,336 9,336 Current financial assets 2,970 — 251 — 172 — — — 3,393 3,393 Cash and cash equivalents — — — — — — — 33,185 33,185 33,185 Total financial assets 11,870 1,777 2,301 — 509 281 — 55,425 72,163 72,163 Total non-financial assets — — — — — — — — 170,468 — Total assets — — — — — — — — 242,631 — Non-current financial debt (18,470) — (20) (21,768) (951) (131) — — (41,340) (42,886) Accounts payable (c) — — — — — — — (26,479) (26,479) (26,479) Other operating liabilities — — (1,794) — — — — (8,341) (10,135) (10,135) Current borrowings (6,925) — — (4,171) — — — — (11,096) (11,095) Other current financial liabilities — — (88) — (157) — — — (245) (245) Total financial liabilities (25,395) — (1,902) (25,939) (1,108) (131) — (34,820) (89,295) (90,840) Total non-financial liabilities — — — — — — — — (153,336) — Total liabilities — — — — — — — — (242,631) — (a) Financial assets available for sale are measured at their fair value except for unlisted securities and listed securities on non active markets (see Note 8 to the Consolidated Financial Statements). (b) 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). (c) The impact of offsetting on accounts receivable, net is $(3,471) million and $3,471 million on accounts payable. |
Financial structure and financi
Financial structure and financial costs | 12 Months Ended |
Dec. 31, 2019 | |
Financial structure and financial costs | |
Financial structure and financial costs | 15) Financial structure and financial costs 15.1) Financial debt and derivative financial instruments A) Non-current financial debt and derivative financial instruments As of December 31, 2019 (M$) (Assets) / Liabilities Secured Unsecured Total Non-current financial debt 6,438 41,335 47,773 of which hedging instruments of non-current financial debt (liabilities) — 1,694 1,694 Non-current financial assets (164) (748) (912) of which hedging instruments of non-current financial debt (assets) — (512) (512) Non-current net financial debt and related financial instruments 6,274 40,587 46,861 Variable rate bonds after fair value hedge — 19,340 19,340 Fixed rate bonds after cash flow hedge — 20,499 20,499 Other floating rate debt 72 618 690 Other fixed rate debt 103 322 425 Lease obligations 6,263 — 6,263 Non-current financial assets (164) (169) (333) Non-current instruments held for trading — (23) (23) Non-current net financial debt and related financial instruments 6,274 40,587 46,861 As of December 31, 2018 (M$) (Assets) / Liabilities Secured Unsecured Total Non-current financial debt 1,870 38,259 40,129 of which hedging instruments of non-current financial debt (liabilities) — 1,880 1,880 Non-current financial assets — (680) (680) of which hedging instruments of non-current financial debt (assets) — (613) (613) Non-current financial debt and related financial instruments 1,870 37,579 39,449 Variable rates bonds after fair value hedge — 20,570 20,570 Fixed rate bonds after cash flow hedge — 15,672 15,672 Other floating rate debt 111 621 732 Other fixed rate debt 94 754 848 Financial lease obligations 1,665 — 1,665 Non-current instruments held for trading — (38) (38) Non-current financial debt and related financial instruments 1,870 37,579 39,449 As of December 31, 2017 (M$) (Assets) / Liabilities Secured Unsecured Total Non-current financial debt 1,310 40,030 41,340 of which hedging instruments of non-current financial debt (liabilities) — 1,082 1,082 Non-current financial assets — (679) (679) of which hedging instruments of non-current financial debt (assets) — (606) (606) Non-current financial debt and related financial instruments 1,310 39,351 40,661 Variable rates bonds after fair value hedge — 20,620 20,620 Fixed rate bonds after cash flow hedge — 16,469 16,469 Other floating rate debt 70 1,692 1,762 Other fixed rate debt 123 623 746 Financial lease obligations 1,117 — 1,117 Non-current instruments held for trading — (53) (53) Non-current financial debt and related financial instruments 1,310 39,351 40,661 The bonds, as of December 31, 2019, after taking into account currency and interest rates swaps fair value, is detailed as follows: Amount Amount Amount after after after hedging as of hedging as of hedging as of Range Range of initial current rate Bonds after fair value hedge and variable rate bonds Currency of December 31, December 31, December 31, of current before hedging (M$) issuance maturities instruments Bond USD 6,276 6,276 7,266 2021 - 2028 2.218% - 3.883 % Bond USD 300 750 1,385 USLIBOR 3 mois + 0.75 % Bond CHF 410 204 391 2026 - 2029 0.176% - 0.298 % Bond NZD 164 252 252 4.750% - 5.000 % Bond AUD 378 699 850 2021 - 2025 4.000% - 4.250 % Bond EUR 9,675 10,212 8,266 2020 - 2044 0.250% - 3.125 % Bond EUR 1,641 1,644 1,639 EURIBOR 3 mois + 0.30% - EURIBOR 3 mois + 0.31 % Bond CAD 92 93 188 2.130 % Bond GBP 2,035 1,536 1,855 2020 - 2031 1.405% - 2.250 % Bond GBP — 472 470 — Bond NOK — — 103 Bond HKD 128 207 212 % Current portion (less than one year) (3,661) (3,679) (4,156) Total Principal Financing Entities (a) 17,438 18,666 18,721 TOTAL S.A. (b) 1,203 1,203 1,201 % Other consolidated subsidiaries 699 701 698 Total bonds after fair value hedge 19,340 20,570 20,620 Amount Amount Amount after after after hedging as of hedging as of hedging as of Range Range of initial current rate Bonds after cash flow hedge and fixed rate bonds Currency of December 31, December 31, December 31, of current before hedging (M$) issuance maturities instruments Bond EUR 10,246 9,268 9,337 2024 - 2029 0.696 % - 5.125 % Bond USD 8,565 5,040 5,000 2020 - 2049 2.041% - 4.450 % Bond CNY — — 164 Bond HKD 202 187 188 % Bond CHF 1,079 1,035 1,037 2024 - 2027 0.510% - 1.010 % Bond GBP 982 326 324 2024 - 2026 1.250% - 1.660 % Bond AUD 5 — — % Current portion (less than one year) (1,250) (946) (164) Total Principal Financing Entities (a) 19,829 14,910 15,886 Other consolidated subsidiaries 670 762 583 Total bonds after cash flow hedge and fixed rate bonds 20,499 15,672 16,469 (a) All debt securities issued through the following subsidiaries are fully and unconditionally guaranteed by TOTAL S.A. as to payment of principal, premium, if any, interest and any other amounts due : - TOTAL CAPITAL is a wholly and directly owned subsidiary of TOTAL S.A. (except for one share held by each director). It acts as a financing vehicle for the Group. The repayment of its financial debt (capital, premium and interest) is fully and unconditionally guaranteed by TOTAL S.A. - TOTAL CAPITAL CANADA Ltd. is a wholly and directly owned subsidiary of TOTAL S.A.. It acts as a financing vehicle for the activities of the Group in Canada. The repayment of its financial debt (capital, premium and interest) is fully and unconditionally guaranteed by TOTAL S.A. - TOTAL CAPITAL INTERNATIONAL is a wholly and directly owned subsidiary of TOTAL S.A. (except for one share held by each director). It acts as a financing vehicle for the Group. The repayment of its financial debt (capital, premium and interest) is fully and unconditionally guaranteed by TOTAL S.A. (b) Debt financing of $1.2 billion through a structure combining the issue of cash-settled convertible bonds with the purchase of cash-settled call options to hedge TOTAL's exposure to the exercise of the conversion rights under the bonds. Loan repayment schedule (excluding current portion) of which hedging of which hedging instruments instruments Non-current As of December 31, of non‑current Non-current of non-current financial debt and 2019 Non‑current financial debt financial financial debt related financial (M$) financial debt (liabilities) assets (assets) instruments % 2021 5,716 204 (101) (9) 5,615 12 % 2022 6,226 433 (148) (121) 6,078 13 % 2023 5,230 106 (67) (18) 5,163 11 % 2024 5,885 139 (87) (83) 5,798 12 % 2025 and beyond 24,716 812 (509) (281) 24,207 52 % Total 47,773 1,694 (912) (512) 46,861 100 % of which hedging of which hedging instruments instruments Non-current As of December 31, of non‑current Non-current of non-current financial debt and 2018 Non‑current financial debt financial financial debt related financial (M$) financial debt (liabilities) assets (assets) instruments % 2020 5,442 386 (10) — 5,432 14 % 2021 4,042 251 (76) (57) 3,966 10 % 2022 5,262 448 (104) (104) 5,158 13 % 2023 5,020 93 (37) — 4,983 13 % 2024 and beyond 20,363 702 (453) (452) 19,910 50 % Total 40,129 1,880 (680) (613) 39,449 100 % of which hedging of which hedging instruments instruments Non-current As of December 31, of non‑current Non-current of non-current financial debt and 2017 Non‑current financial debt financial financial debt related financial (M$) financial debt (liabilities) assets (assets) instruments % 2019 6,005 164 (75) (68) 5,930 15 % 2020 5,119 222 (2) — 5,117 13 % 2021 3,810 96 (15) — 3,795 9 % 2022 5,026 165 (67) (67) 4,959 12 % 2023 and beyond 21,380 435 (520) (471) 20,860 51 % Total 41,340 1,082 (679) (606) 40,661 100 % Analysis by currency and interest rate These analyses take into account interest rate and foreign currency swaps to hedge non-current financial debt. As of December 31, (M$) % % % U.S. Dollar 43,276 92 % 38,120 97 % 38,703 95 % Euro 2,639 6 % 1,103 3 % 724 2 % Norwegian krone 81 0 % 27 — % 975 2 % Other currencies 865 2 % 199 — % 259 1 % Total 46,861 100 % 39,449 100 % 40,661 100 % As of December 31, (M$) % % % Fixed rate 26,985 58 % 18,139 46 % 18,332 45 % Floating rate 19,876 42 % 21,310 54 % 22,329 55 % Total 46,861 100 % 39,449 100 % 40,661 100 % 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. As of December 31, (M$) (Assets) / Liabilities Current financial debt (a) 8,710 8,316 6,396 Current lease obligations 1,202 — — Current portion of non-current financial debt 4,907 4,990 4,700 Current borrowings. (note 14) 14,819 13,306 11,096 Current portion of hedging instruments of debt (liabilities) 424 295 157 Other current financial instruments (liabilities) 63 183 88 Other current financial liabilities. (note 14) 487 478 245 Current deposits beyond three months (3,611) (3,536) (2,970) Non-traded marketable securities (114) — — Financial receivables on sub-lease, current (145) — — Current portion of hedging instruments of debt (assets) — (45) (172) Other current financial instruments (assets) (122) (73) (251) Current financial assets. (note 14) (3,992) (3,654) (3,393) Current borrowings and related financial assets and liabilities, net 11,314 10,130 7,948 (a) As of December 31, 2019, December 31, 2018 and December 31, 2017, the current financial debt includes a commercial paper program in Total Capital Canada Ltd.. Total Capital Canada Ltd. is a wholly-owned subsidiary of TOTAL S.A. It acts as a financing vehicle for the activities of the Group in Canada. Its debt securities are fully and unconditionally guaranteed by TOTAL S.A. as to payment of principal, premium, if any, interest and any other amounts due. C) Cash flow from (used in) financing activities The variations of financial debt are detailed as follows: Non-cash changes Change in As of scope, First Reclassification As of January 1, Cash including IFRS 5 application Foreign Changes in Non-current / December 31, (M$) 2019 changes reclassification IFRS 16 currency fair value Current Other 2019 Non-current financial instruments - assets (a) and non-current financial assets (680) 21 12 (50) 4 (71) 144 (292) (912) Non-current financial debt 40,129 8,110 (731) 4,805 (48) 484 (6,661) 1,685 47,773 Non-current net financial debt and related financial instruments 39,449 8,131 (719) 4,755 (44) 413 (6,517) 1,393 46,861 Current financial instruments - assets (a) (118) 125 — — 2 (32) (144) (101) (268) Current borrowings 13,306 (5,954) (35) 750 184 (26) 6,661 (67) 14,819 Current financial instruments - liabilities (a) 478 — — — (6) 15 — — 487 Current net financial debt and related financial instruments 13,666 (5,829) (35) 750 180 (43) 6,517 (168) 15,038 Financial debt classified as held for sale — — 301 — — — — — 301 Financial debt 53,115 2,302 (453) 5,505 136 370 — 1,225 62,200 Non-cash changes Change in As of scope, Reclassification As of January 1, Cash including IFRS 5 Foreign Changes in Non-current / December 31, (M$) 2018 changes reclassification currency fair value Current Other 2018 Non-current financial instruments - assets (a) (679) — (72) 12 59 — — (680) Non-current financial debt 41,340 649 4,708 (59) 62 (6,260) (311) 40,129 Non-current net financial debt and related financial instruments 40,661 649 4,636 (47) 121 (6,260) (311) 39,449 Current financial instruments - assets (a) (423) — — 10 295 — — (118) Current borrowings 11,096 (3,990) 230 270 (514) 6,260 (46) 13,306 Current financial instruments - liabilities (a) 245 — 67 (11) 177 — — 478 Current net financial debt and related financial instruments 10,918 (3,990) 297 269 (42) 6,260 (46) 13,666 Financial debt classified as held for sale — — — — — — — — Financial debt 51,579 (3,341) 4,933 222 79 — (357) 53,115 (a): Fair value or cash flow hedge instruments and other non-hedge debt-related derivative instruments Monetary changes in non-current financial debt are detailed as follows: For the year ended December 31, (M$) Issuance of non-current debt 8,668 3,938 2,959 Repayment of non-current debt (538) (3,289) (682) Net amount 8,131 649 2,277 D) Cash and cash equivalents Accounting policies Cash and cash equivalents are comprised 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$) Cash 16,456 15,186 13,427 Cash equivalents 10,896 12,721 19,758 Total 27,352 27,907 33,185 Cash equivalents are mainly composed of deposits less than three months deposited in government institutions or deposit banks selected in accordance with strict criteria. As of December 31, 2019, the cash and cash equivalents include $1,776 millions subject to restrictions, notably due to regulatory framework or to the fact they are owned by affiliates located in countries with exchange controls. E) Net-debt-to-capital ratio For its internal and external communication needs, the Group calculates a debt ratio by dividing its net financial debt by its capital. The ratio is calculated as follows: Net debt / (Equity + Net debt) As of December 31, (M$) (Assets) / Liabilities Current borrowings 14,819 13,306 11,096 Other current financial liabilities 487 478 245 Current financial assets (3,992) (3,654) (3,393) Net financial assets and liabilities held for sale or exchange 301 (15) — Non-current financial debt 47,773 40,129 41,340 Non-current financial assets (912) (680) (679) Cash and cash equivalents (27,352) (27,907) (33,185) Net financial debt 31,124 21,657 15,424 Shareholders’ equity – Group share 116,778 115,640 111,556 Non-controlling interests 2,527 2,474 2,481 Shareholders’ equity 119,305 118,114 114,037 Net-debt-to-capital ratio 20.7 % 15.5 % 11.9 % 15.2) Fair value of financial instruments (excluding commodity contracts) Accounting policies The Group 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 statement of income 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 the Group are the following: - Cash management Financial instruments used for cash management purposes are part of a hedging strategy of currency and interest rate risks within global limits set by the Group and are considered to be held for trading. Changes in fair value are systematically recorded in the statement of income. The balance sheet value of those instruments is included in “Current financial assets” or “Other current financial liabilities”. - Long-term financing 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: i. 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 statement of income, 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 statement of income and: If this termination is due to an early cancellation of the hedged items, the adjustment previously recorded as revaluation of those hedged items is also recognized in the statement of income; If the hedged items remain in the balance sheet, the adjustment previously recorded as a revaluation of those hedged items is spread over the remaining life of those items. 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), the Group designates the new instrument as a hedging instrument of an aggregated position (CFH) without having to end the initial hedging relationship. ii. Cash flow hedge when the Group 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 statement of income 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. iii. In compliance with IFRS9, the Group 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. - Foreign subsidiaries’ equity hedge 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 statement of income for the ineffective portion of the hedging. Gains or losses on hedging instruments previously recorded in equity, are reclassified to the statement of income 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” or ”Other current financial liabilities”. - Commitments to purchase shares held by non-controlling interests (put options written on minority interests) 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. 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 statement of income (cost of debt). A) Impact on the statement of income per nature of financial instruments Assets and liabilities from financing activities The impact on the statement of income 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 for 2019 (IFRS 16 first application) 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, the Group did not elect to set up hedge accounting for such instruments. The impact on income 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$) Loans and receivables 200 161 53 Financing liabilities and associated hedging instruments (1,897) (1,927) (1,395) Fair value hedge (ineffective portion) (1) (6) (1) Lease assets and obligations (417) — — Assets and liabilities held for trading (237) (349) (191) Impact on the cost of net debt (2,352) (2,121) (1,534) B) Impact of the hedging strategies Fair value hedge instruments The impact on the statement of income of the bond hedging instruments which is recorded in the item “Financial interest on debt” in the Consolidated Statement of Income is detailed as follows: For the year ended December 31, (M$) Revaluation impact at market value of bonds (762) 1,332 (2,519) Swap hedging of bonds 761 (1,338) 2,518 Ineffective portion of the fair value hedge (1) (6) (1) The ineffective portion is not representative of the Group’s performance considering the Group’s objective to hold swaps to maturity. The current portion of the swaps valuation is not subject to active management. Net investment hedge The variations of the period are detailed in the table below: For the year ended December 31, As of As of (M$) January 1, Variations Disposals December 31 2019 (724) 7 — (717) 2018 (762) 38 — (724) 2017 (658) (104) — (762) As of December 31, 2019, 2018 and 2017 the Group had no open forward contracts under these hedging instruments. Cash flow hedge The impact on the statement of income and other comprehensive income of the hedging instruments qualified as cash flow hedges is detailed as follows : For the year ended December 31, (M$) Profit (Loss) recorded in equity during the period (585) 24 253 Recycled amount from equity to the income statement during the period 47 (116) 266 As of December 31, 2019, 2018 and 2017, 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. FAIR VALUE HEDGES (FVH) Nomimal Nature of amount of Carrying amount of Line item in the For the year ended December 31 2019 hedging hedging hedging instruments statement of $M instruments instruments Assets Liabilities financial position Interest Rate Financial debt / Bonds Swaps 8,012 270 (75) Financial assets Cross Currency Financial debt / Bonds Swaps 14,357 124 (1,011) Financial assets FAIR VALUE HEDGES (FVH) Cumulative FVH adjustments included Nature of Carrying amount of in the carrying amount Line item in the For the year ended December 31 2019 hedging hedged items of the hedged items statement of financial $M instruments Assets Liabilities Assets Liabilities position Bonds Interest Rate Swaps — (7,450) — (795) Financial debt Bonds Cross Currency Swaps — (14,357) — 1,290 Financial debt End of hedging (before 2018) — — — (71) Cash Flow Hedge The following chart regarding Cash Flow Hedge discloses the nominal amounts and carrying amounts by nature of hedging instruments (Interest Rate Swaps and Cross Currency Swaps). According to IFRS 9, there are no accounting entries related to Cash Flow Hedge on hedged items. CASH FLOW HEDGES (CFH) Nomimal Nature of amount of Carrying amount of Line item in the For the year ended December 31 2019 hedging hedging hedging instruments statement of $M instruments instruments Assets Liabilities financial position Interest Rate Financial debt / Bonds Swaps 12,782 25 (527) Financial assets Cross Currency Financial debt / Bonds Swaps 12,604 19 (431) Financial assets C) Maturity of derivative instruments The maturity of the notional amounts of derivative instruments, excluding the commodity contracts, is detailed in the following table: For the year ended December 31, 2019 Notional Notional value schedule (M$) Fair value Fair Assets / (Liabilities) value value and after and after Fair value hedge Swaps hedging bonds (assets) — — 469 10,896 Swaps hedging bonds (liabilities) (423) 3,346 (736) 8,127 Total swaps hedging bonds (423) 3,346 (267) 19,023 2,695 4,298 3,858 2,337 5,835 Cash flow hedge Swaps hedging bonds (assets) — — 43 4,062 Swaps hedging bonds (liabilities) — — (958) 21,324 Total swaps hedgings bonds — — (915) 25,386 — — 1,000 3,659 20,727 Forward exchange contracts related to operational activites (assets) 1 29 — — Forward exchange contracts related to operational activites (liabilities) — — — — Total forward exchange contracts related to operating activities 1 29 — — — — — — — Held for trading Other interest rate swaps (assets) 11 23,522 50 2,225 Other interest rate swaps (liabilities) (24) 16,007 (44) 3,475 Total other interest rate swaps (13) 39,529 6 5,700 2,217 1,463 18 1,820 182 Currency swaps and forward exchange contracts (assets) 111 6,446 17 431 Currency swaps and forward exchange contracts (liabilities) (39) 4,455 — 131 Total currency swaps and forward exchange contracts 72 10,901 17 562 529 33 — — — 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, 2018 Notional Notional value schedule (M$) Fair value Fair Assets / (Liabilities) value value and after and after Fair value hedge Swaps hedging bonds (assets) 45 1,345 235 3,712 Swaps hedging bonds (liabilities) (208) 1,874 (1,281) 16,225 Total swaps hedging fixed-rates bonds (163) 3,219 (1,046) 19,937 3,346 1,945 4,309 3,858 6,479 Cash flow hedge Swaps hedging bonds (assets) - - 378 10,043 Swaps hedging bonds (liabilities) (87) 969 (599) 11,265 Total swaps hedging bonds (87) 969 (221) 21,308 - - - - 21,308 Forward exchange contracts related to operational activites (assets) 2 39 — 4 Forward exchange contracts related to operational activites (liabilities) - - — - Total forward exchange contracts related to operational activites 2 39 — 4 4 - - - - Held for trading Other interest rate swaps (assets) 7 17,001 57 2,515 Other interest rate swaps (liabilities) (79) 20,816 (22) 2,686 Total other interest rate swaps (72) 37,817 35 5,201 2,186 1,004 56 1 1,954 Currency swaps and forward exchange contracts (assets) 66 10,500 11 44 Currency swaps and forward exchange contracts (liabilities) (104) 9,107 (7) 34 Total currency swaps and forward exchange contracts (38) 19,607 4 78 65 12 1 - - Notional amounts set the levels of commitment and are indicative nor of a contingent gain or loss neither of a related debt. For the year ended December 31, 2017 Notional Notional value schedule (M$) Fair value Fair Assets / (Liabilities) value value and after and after Fair value hedge Swaps hedging bonds (assets) 172 2,391 337 5,075 Swaps hedging bonds (liabilities) (157) 1,840 (951) 14,669 Total swaps hedging bonds 15 4,231 (614) 19,744 3,247 3,346 1,945 4,336 6,870 Cash flow hedge Swaps hedging bonds (assets) — — 269 9,466 Swaps hedging bonds (liabilities) — — (131) 11,288 Total swaps hedging bonds — — 138 20,754 969 — — — 19,785 Forward exchange contracts related to operational activites (assets) 2 55 — 28 Forward exchange contracts related to operational activites (liabilities) — — — — Total forward exchange contracts related to operational activites 2 55 — 28 24 4 — — — Held for trading Other interest rate swaps (assets) 32 36,775 64 2,300 Other interest rate swaps (liabilities) (17) 13,905 (3) 370 Total other interest rate swaps 15 50,680 61 2,670 41 50 1,000 - 1,579 Currency swaps and forward exchange contracts (assets) 219 15,132 9 175 Currency swaps and forward exchange contracts (liabilities) (71) 6,048 (17) 229 Total currency swaps and forward exchange contracts 148 21,180 (8) 404 222 128 46 7 1 Notional amounts set the levels of commitment and are indicative nor of a contingent gain or loss neither of a related debt. D) Fair value hierarchy Accounting policies Fair values are estimated for the majority of the Group’s 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 the interest rate swaps and of FRA’s (Forward Rate Agreements) are 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. The fair value hierarchy for financial instruments, excluding commodity contracts, is as follows: Quoted prices in active markets Prices based Prices based on for identical on observable non observable As of December 31, 2019 assets data data (M$) (level 1) (level 2) (level 3) Total Fair value hedge instruments — (690) — (690) Cash flow hedge instruments — (915) — (915) Assets and liabilities held for trading — 82 — 82 Equity instruments 240 — — 240 Total 240 (1,523) — (1,283) Quoted prices in active markets Prices based Prices based on for identical on observable non observable As of December 31, 2018 assets data data (M$) (level 1) (level 2) (level 3) Total Fair value hedge instruments — (1,209) — (1,209) Cash flow hedge instruments — (306) — (306) Assets and liabilities held for trading — (71) — (71) Equity instruments 94 — — 94 Total 94 (1,586) — (1,492) Quoted prices in active markets Prices based Prices based on for identical on observable non observable As of December 31, 2017 assets data data (M$) (level 1) (level 2) (level 3) Total Fair value hedge instruments — (599) — (599) Cash flow hedge instruments — 140 — 140 Assets and liabilities held for trading — 216 — 216 Assets available for sale 100 — — 100 Total 100 (243) — (143) 15.3) Financial risks management Financial markets related risks As part of its financing and cash management activities, the Group uses derivative instruments to manage its exposure to changes in interest rates and foreign exchange rates. These instruments are mainly interest rate and currency swaps. The Group may also occasionally use futures contracts and options. These operations and their accounting treatment are detailed in Notes 14, 15.1 and 15.2 to the Consolidated Financial Statements. Risks relative to cash management operations and to interest rate and foreign exchange financial instruments are managed according to rules set by the Group’s senior management, which provide for regular pooling of available cash balances, open positions and management of the financial instruments by the Treasury Department. Excess cash of the Group is deposited mainly in government institutions, deposit banks, or major companies through deposits, reverse repurchase agreements and purchase of commercial paper. Liquidity positions and the management of financial instrument |
Financial instruments related t
Financial instruments related to commodity contracts | 12 Months Ended |
Dec. 31, 2019 | |
Financial instruments related to commodity contracts | |
Financial instruments related to commodity contracts | 16) Financial instruments related to commodity contracts 16.1) Financial instruments related to commodity contracts Accounting policies 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 such as energy contracts and forward freight agreements, are used to adjust the Group’s exposure to price fluctuations within global trading limits. According to the industry practice, these instruments are considered as held for trading. Changes in fair value are recorded in the statement of income. The fair value of these instruments is recorded in “Other current assets” or “Other creditors and accrued liabilities” depending on whether they are assets or liabilities. 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 particular 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 Net balance As of December 31, 2019 Gross value Gross value Amounts Amounts sheet value sheet value Other (M$) before offsetting before offsetting offset - offset - presented presented amounts not Net carrying Fair Assets / (Liabilities) - assets - liabilities assets (c) liabilities (c) - assets - liabilities offset amount value (b) Crude oil, petroleum products and freight rates activities Petroleum products, crude oil and freight rate swaps 152 (244) (73) 73 79 (171) — (92) (92) Forwards (a) 300 (297) (3) 3 297 (294) — 3 3 Options 73 (106) — — 73 (106) — (33) (33) Futures — — — — — — — — — Options on futures — (160) — — — (160) — (160) (160) Other / Collateral — — — — — — 147 147 147 Total crude oil, petroleum products and freight rates 525 (807) (76) 76 449 (731) 147 (135) (135) Integrated Gas, Renewables & Power activities — — — — — — — — — Swaps 469 9 39 (39) 508 (30) — 478 478 Forwards (a) 4,080 (4,831) (296) 296 3,784 (4,535) — (751) (751) Options 76 (37) (28) 28 48 (9) — 39 39 Futures 17 (43) (15) 15 2 (28) — (26) (26) Other / Collateral — — — — — — (772) (772) (772) Total Integrated Gas, Renewables & Power 4,642 (4,902) (300) 300 4,342 (4,602) (772) (1,032) (1,032) Total 5,167 (5,709) (376) 376 4,791 (5,333) (625) (1,167) (1,167) 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 Net balance As of December 31, 2018 Gross value Gross value Amounts Amounts sheet value sheet value Other (M$) before offsetting before offsetting offset - offset - presented presented amounts not Net carrying Fair Assets / (Liabilities) - assets - liabilities assets (c) liabilities (c) - assets - liabilities offset amount value (b) Crude oil, petroleum products and freight rates activities Petroleum products, crude oil and freight rate swaps 389 (272) (140) 140 249 (132) — 117 117 Forwards (a) 243 (373) (59) 59 184 (314) — (130) (130) Options 243 (363) (156) 156 87 (207) — (120) (120) Futures 10 — — — 10 — — 10 10 Options on futures 529 (689) (529) 529 — (160) — (160) (160) Other / Collateral — — — — — — (118) (118) (118) Total crude oil, petroleum products and freight rates 1,414 (1,697) (884) 884 530 (813) (118) (401) (401) Integrated Gas, Renewables & Power activities — — — — — — — — — Swaps 18 (624) (6) 6 12 (618) — (606) (606) Forwards (a) 2,492 (2,285) (316) 316 2,176 (1,969) — 207 207 Options 3 (20) (18) 18 (15) (2) — (17) (17) Futures 126 (125) (98) 98 28 (27) — 1 1 Other / Collateral — — — — — — 445 445 445 Total Integrated Gas, Renewables & Power 2,639 (3,054) (438) 438 2,201 (2,616) 445 30 30 Total 4,053 (4,751) (1,322) 1,322 2,731 (3,429) 327 (371) (371) Total of fair value non recognized in the balance sheet — (a) Forwards: contracts resulting in physical delivery are accounted for as derivative commodity contracts and included in the amounts shown. (b) When the fair value of derivatives listed on an organized exchange market (futures, options on futures and swaps) is offset with the margin call received or paid in the balance sheet, this fair value is set to zero. (c) Amounts offset in accordance with IAS 32. Net balance Net balance As of December 31, 2017 Gross value Gross value Amounts Amounts sheet value sheet value Other (M$) before offsetting before offsetting offset - offset - presented presented amounts not Net carrying Fair Assets / (Liabilities) - assets - liabilities assets (c) liabilities (c) - assets - liabilities offset amount value (b) Crude oil, petroleum products and freight rates activities Petroleum products, crude oil and freight rate swaps 244 (333) (102) 102 142 (231) — (89) (89) Forwards (a) 109 (113) (12) 12 97 (101) — (4) (4) Options 82 (163) (52) 52 30 (111) — (81) (81) Futures — — — — — — — — — Options on futures 202 (251) (155) 155 47 (96) — (49) (49) Other / Collateral — — — — — — 63 63 63 Total crude oil, petroleum products and freight rates 637 (860) (321) 321 316 (539) 63 (160) (160) Integrated Gas, Renewables & Power activities — — — — — — — — — Swaps 76 (7) (3) 3 73 (4) — 69 69 Forwards (a) 1,717 (1,345) (92) 92 1,625 (1,253) — 372 372 Options 6 (30) (33) 33 (27) 3 — (24) (24) Futures — (1) — — — (1) — (1) (1) Other / Collateral — — — — — — (86) (86) (86) Total Integrated Gas, Renewables & Power 1,799 (1,383) (128) 128 1,671 (1,255) (86) 330 330 Total 2,436 (2,243) (449) 449 1,987 (1,794) (23) 170 170 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$) as of January 1, income contracts Other December 31, Crude oil, petroleum products and freight rates activities 2019 (283) 4,189 (4,188) — (282) 2018 (223) 2,689 (2,749) — (283) 2017 130 2,693 (3,047) — (223) Integrated Gas, Renewables & Power activities 2019 (415) 1,588 (686) (747) (260) 2018 416 1,220 (2,057) 6 (415) 2017 218 717 (554) 35 416 In 2019, the Other column mainly includes the acquisition of Toshiba's LNG portfolio, for which financial instruments related to commodity contracts have been recognized for the amount of treasury received. The fair value hierarchy for financial instruments related to commodity contracts is as follows: Quoted prices in active markets for Prices based on Prices based on As of December 31, 2019 identical observable data non observable (M$) assets (level 1) (level 2) data (level 3) Total Crude oil, petroleum products and freight rates activities (182) (172) 72 (282) Integrated Gas, Renewables & Power activities 392 2,054 (2,706) (260) Total 210 1,882 (2,634) (542) Quoted prices in active markets for Prices based on Prices based on As of December 31, 2018 identical observable data non observable (M$) assets (level 1) (level 2) data (level 3) Total Crude oil, petroleum products and freight rates activities (303) 20 — (283) Integrated Gas, Renewables & Power activities 424 (638) (201) (415) Total 121 (618) (201) (698) Quoted prices in active markets for Prices based on Prices based on As of December 31, 2017 identical observable data non observable (M$) assets (level 1) (level 2) data (level 3) Total Crude oil, petroleum products and freight rates activities (49) (173) — (223) Integrated Gas, Renewables & Power activities 288 128 — 416 Total 239 (45) — 193 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. For the purpose of valuation and accounting of LNG contracts, the Group refers to the active management horizon for trading positions which corresponds to 12 months in 2019 compared to 2 years in 2018, considering the observed changes of the market. Indeed, the growing and increasingly liquid LNG market is moving towards a commodities market with a shorter management horizon. The management of positions being carried out on a net value of LNG purchase and sale commitments, the applied valuation method is the contract’s portfolio method based mostly on observable market data such as the prices of energy raw materials forward contracts. Concerning the period beyond the management horizon, a sensitivity analysis is carried out to verify that no liability should be recognized. The assumptions used are based on internal assumptions such as the prices in the Group's strategic plan, price renegotiation clauses included in long-term contracts, uncertainties related to contracts execution and flexibilities included in LNG contracts. The valuation method of the portfolio of LNG contracts is sensitive to market risks, and more specifically to price risk resulting from the volatility of oil and natural gas prices on the North American, Asian, and European markets, and to the valuation of 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 statement of income 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$) Profit (Loss) recorded in equity during the period (14) 3 71 Recycled amount from equity to the income statement during the period — (3) (6) These financial instruments are mainly one year term Henry Hub derivatives. As of December 31, 2019, the ineffective portion of these financial instruments is nil, (in 2018 and in 2017 the ineffective portion of these financial instruments was nil). 16.2) Oil, Gas and Power market related risks management Oil, Gas and Power market related risks Due to the nature of its business, the Group 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, the Group follows a policy of not selling its future production. However, in connection with this trading business, the Group, 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. The Group also uses freight rate derivative contracts in its shipping business to adjust its exposure to freight-rate fluctuations. To hedge against this risk, the Group 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 the Group in these markets is detailed in Note 16.1 to the Consolidated Financial Statements. The Trading & Shipping division measures its market risk exposure, i.e. potential loss in fair values, on its crude oil, refined products and freight rates trading activities using a value-at-risk technique. This technique is based on an historical model and makes an assessment of the market risk arising from possible future changes in market values over a 24‑hour period. The calculation of the range of potential changes in fair values is based on the end-of-day exposures and historical price movements of the last 400 business days for all traded instruments and maturities. Options are systematically re-evaluated using appropriate models. The “value-at-risk” represents the most unfavorable movement in fair value obtained with a 97.5% confidence level. This means that the Group’s 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 2019 28 9 17 21 2018 21 5 12 7 2017 28 4 16 7 As part of its gas and power trading activity, the Group 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. The Gas division measures its market risk exposure, i.e. potential loss in fair values, on its trading business using a value-at-risk technique. This technique is based on an historical model and makes an assessment of the market risk arising from possible future changes in market values over a one-day period. The calculation of the range of potential changes in fair values takes into account a snapshot of the end-of-day exposures and the set of historical price movements for the past two years for all instruments and maturities in the global trading business. Integrated Gas, Renewables & Power division trading : value-at-risk with a 97.5% probability As of December 31, (M$) High Low Average Year end 2019 83 10 20 64 2018 20 3 10 10 2017 13 3 6 4 The Group 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 the Group’s 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. The Group 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, 2019 | |
Post closing events | |
Post closing events | 17) Post closing events There was no post closing event. |
Consolidation scope
Consolidation scope | 12 Months Ended |
Dec. 31, 2019 | |
Consolidation scope | |
Consolidation scope | 18) Consolidation scope As of December 31, 2019, 1,134 entities are consolidated of which 140 are accounted for under the equity method (E). The table below sets forth the main Group consolidated entities: % Group Country of Business segment Statutory corporate name interest Method incorporation Country of operations Exploration & Production Abu Dhabi Gas Industries Limited % E United Arab Emirates United Arab Emirates Abu Dhabi Marine Areas Limited % E United Kingdom United Arab Emirates Angola Block 14 B.V. % Netherlands Angola Angola LNG Supply Services, LLC % E United States United States Bonny Gas Transport Limited % E Bermuda Nigeria Brass Holdings S.A.R.L. % Luxembourg Nigeria Brass LNG Limited % E Nigeria Nigeria Deer Creek Pipelines Limited % Canada Canada Dolphin Energy Limited % E United Arab Emirates United Arab Emirates E.F. Oil And Gas Limited % United Kingdom United Kingdom Elf E&P % France France Elf Exploration UK Limited % United Kingdom United Kingdom Elf Petroleum Iran % France Iran Elf Petroleum UK Limited % United Kingdom United Kingdom Gas Investment and Services Company Limited % E Bermuda Oman Mabruk Oil Operations % France Libya Marathon Oil Libya Limited % Cayman Islands Libya Moattama Gas Transportation Company Limited % E Bermuda Myanmar Norpipe Oil A/S % E Norway Norway Norpipe Petroleum UK Limited % E United Kingdom Norway Norpipe Terminal Holdco Limited % E United Kingdom Norway Norsea Pipeline Limited % E United Kingdom Norway North Oil Company % E Qatar Qatar Novatek % E Russia Russia Pars LNG Limited % E Bermuda Iran Petrocedeno % E Venezuela Venezuela Private Oil Holdings Oman Limited % E United Kingdom Oman Stogg Eagle Funding B.V. % Netherlands Nigeria Tepkri Sarsang A/S % Denmark Iraq Termokarstovoye S.A.S. % France Russia Terneftegaz JSC (a) % E Russia Russia Total (BTC) B.V. % Netherlands Azerbaijan Total Abu Al Bu Khoosh % France United Arab Emirates Total Austral % France Argentina Total Brazil Services B.V. % Netherlands Netherlands Total Danmark Pipelines A/S % Denmark Denmark Total Denmark ASW Pipeline ApS % Denmark Denmark Total Denmark ASW, Inc. % United States Denmark Total Dolphin Midstream % France France Total E&P Chissonga Limited % Angola Angola Total E&P Absheron B.V. % Netherlands Azerbaijan Total E&P Al Shaheen A/S % Denmark Qatar Total E&P Algerie % France Algeria Total E&P Algerie Berkine A/S % Algeria Algeria Total E&P Americas, LLC % United States United States Total E&P Anchor, LLC % United States United States Total E&P Angola % France Angola Total E&P Angola Block 15/06 Limited % France Angola Total E&P Angola Block 16 A/S % Denmark Angola Total E&P Angola Block 16 Holding A/S % Angola Angola Total E&P Angola Block 17.06 % France Angola Total E&P Angola Block 25 % France Angola Total E&P Angola Block 32 % France Angola Total E&P Angola Block 33 % France Angola Total E&P Angola Block 39 % France Angola Total E&P Angola Block 40 % France Angola Total E&P Angola Block 48 B.V. % Netherlands Angola Total E&P Angola Chissonga Holdings Limited % Angola Angola Total E&P Aruba B.V. % Netherlands Aruba Total E&P Asia Pacific Pte. Limited % Singapore Singapore Total E&P Azerbaijan B.V. % Netherlands Azerbaijan Total E&P Bolivie % France Bolivia Total E&P Borneo B.V. % Netherlands Brunei Total E&P Bulgaria B.V. % Netherlands Bulgaria Total E&P Cambodge % France Cambodia Total E&P Canada Limited % Canada Canada Total E&P Chine % France China Total E&P Colombie % France Colombia Total E&P Congo % Congo Congo Total E&P Cote d'Ivoire % France Côte d'Ivoire Total E&P Cote d'Ivoire CI - 514 % France Côte d'Ivoire Total E&P Cote d'Ivoire CI - 515 % France Côte d'Ivoire Total E&P Cote d'Ivoire CI - 516 % France Côte d'Ivoire Total E&P Cote d'Ivoire CI-605 B.V. % Netherlands Côte d'Ivoire Total E&P Cyprus B.V. % Netherlands Cyprus Total E&P Danmark A/S - CPH % Denmark Denmark Total E&P Danmark A/S -EBJ % Denmark Denmark Total E&P Deep Offshore Borneo B.V. % Netherlands Brunei Total E&P Do Brasil Ltda % Brazil Brazil Total E&P Dolphin Upstream % France France Total E&P Dunga GmbH % Germany Kazakhstan Total E&P East El Burullus Offshore B.V. % Netherlands Egypt Total E&P Egypt Block 2 B.V. % Netherlands Egypt Total E&P Egypte % France Egypt Total E&P Europe and Central Asia Limited % United Kingdom United Kingdom Total E&P France % France France Total E&P Golfe Limited % France France Total E&P Gom Moh. LLC % United States United States Total E&P Greece B.V. % Netherlands Greece Total E&P Guyana B.V. % Netherlands Guyana Total E&P Guyane Francaise % France France Total E&P Holdings Russia % France France Total E&P Holdings UAE B.V. % Netherlands United Arab Emirates Total E&P International K1 Limited % Kenya Kenya Total E&P International K2 Limited % Kenya Kenya Total E&P International K3 Limited % Kenya Kenya Total E&P International Limited % Kenya Kenya Total E&P Iraq % France Iraq Total E&P Ireland B.V. % Netherlands Ireland Total E&P Italia % Italy Italy Total E&P Jack LLC % United States United States Total E&P Jutland Denmark B.V. % Netherlands Denmark Total E&P Kazakhstan % France Kazakhstan Total E&P Kenya B.V. % Netherlands Kenya Total E&P Kurdistan Region of Iraq (Harir) B.V. % Netherlands Iraq Total E&P Kurdistan Region of Iraq (Safen) B.V. % Netherlands Iraq Total E&P Kurdistan Region of Iraq (Taza) B.V. % Netherlands Iraq Total E&P Kurdistan Region of Iraq B.V. % Netherlands Iraq Total E&P Liban S.A.L. % Lebanon Lebanon Total E&P Libye % France Libya Total E&P Lower Zakum B.V. % Netherlands United Arab Emirates Total E&P Malaysia % France Malaysia Total E&P Mauritania Block C18 B.V. % Netherlands Mauritania Total E&P Mauritania Block C9 B.V. % Netherlands Mauritania Total E&P Mauritania Blocks DW B.V. % Netherlands Mauritania Total E&P Mauritanie % France Mauritania Total E&P Mexico S.A. de C.V. % Mexico Mexico Total E&P Mozambique B.V. % Netherlands Mozambique Total E&P Myanmar % France Myanmar Total E&P Namibia B.V. % Netherlands Netherlands Total E&P Nederland B.V. % Netherlands Netherlands Total E&P New Ventures Inc. % United States United States Total E&P Nigeria Deepwater A Limited % Nigeria Nigeria Total E&P Nigeria Deepwater B Limited % Nigeria Nigeria Total E&P Nigeria Deepwater C Limited % Nigeria Nigeria Total E&P Nigeria Deepwater D Limited % Nigeria Nigeria Total E&P Nigeria Deepwater E Limited % Nigeria Nigeria Total E&P Nigeria Deepwater F Limited % Nigeria Nigeria Total E&P Nigeria Deepwater G Limited % Nigeria Nigeria Total E&P Nigeria Deepwater H Limited % Nigeria Nigeria Total E&P Nigeria Limited % Nigeria Nigeria Total E&P Nigeria S.A.S. % France France Total E&P Norge AS % Norway Norway Total E&P North Sea UK Limited % United Kingdom United Kingdom Total E&P Oman % France Oman Total E&P Participations Petrolieres Congo % Congo Congo Total E&P Philippines B.V. % Netherlands Philippines Total E&P Qatar % France Qatar Total E&P RDC % Democratic Republic of Congo Democratic Republic of Congo Total E&P Research & Technology USA LLC % United States United States Total E&P Russie % France Russia Total E&P Senegal % France Senegal Total E&P Services China Company Limited % China China Total E&P South Africa B.V. % Netherlands South Africa Total E&P South Pars % France Iran Total E&P South Sudan % France Republic of South Sudan Total E&P Syrie % France Syrian Arab Republic Total E&P Tajikistan B.V. % Netherlands Tajikistan Total E&P Thailand % France Thailand Total E&P Three Pl B.V. % Netherlands Brazil Total E&P Timan-Pechora LLC % Russia Russia Total E&P UAE Unconventional Gas B.V. % Netherlands United Arab Emirates Total E&P Uganda B.V. % Netherlands Uganda Total E&P UK Limited % United Kingdom United Kingdom Total E&P Umm Shaif Nasr B.V. % Netherlands United Arab Emirates Total E&P Uruguay B.V. % Netherlands Uruguay Total E&P Uruguay Onshore B.V. % Netherlands Uruguay Total E&P US Well Containment, LLC % United States United States Total E&P USA Inc. % United States United States Total E&P USA Oil Shale, LLC % United States United States Total E&P Well Response % France France Total E&P Yemen % France Yemen Total E&P Yemen Block 3 B.V. % Netherlands Yemen Total East Africa Midstream B.V. % Netherlands Uganda Total Energy (Meuk) Limited % United Kingdom United Kingdom Total Exploration M'Bridge % Netherlands Angola Total Facilities Management B.V. % Netherlands Netherlands Total Gabon % Gabon Gabon Total Gass Handel Norge AS % Norway Norway Total Gastransport Nederland B.V. % Netherlands Netherlands Total Holding Dolphin Amont % France France Total Holdings Nederland B.V. % Netherlands Netherlands Total Holdings Nederland International B.V. % Netherlands Netherlands Total Iran B.V. % Netherlands Iran Total LNG Supply Services USA Inc. % United States United States Total Oil and Gas South America % France France Total Oil and Gas Venezuela B.V. % Netherlands Venezuela Total Oil Gb Limited % United Kingdom United Kingdom Total Oil UK Limited % United Kingdom United Kingdom Total P&G do Brasil Ltda % Brazil Brazil Total Pars LNG % France Iran Total Petroleum Angola % France Angola Total Profils Petroliers % France France Total Qatar % France Qatar Total South Pars % France Iran Total Upstream Danmark A/S % Denmark Denmark Total Upstream Nigeria Limited % Nigeria Nigeria Total Upstream UK Limited % United Kingdom United Kingdom Total Venezuela % France France Uintah Colorado Resources, Llc % United States United States Unitah Colorado Resources II, LLC % United States United States Ypergas S.A. % France Venezuela % Group Country of Business segment Statutory corporate name interest Method incorporation Country of operations Integrated Gas, Renewables & Power Abu Dhabi Gas Liquefaction Company Limited % E United Arab Emirates United Arab Emirates Adani Total Private Limited (e) % E India India Advanced Thermal Batteries Inc. % E United States United States Aerospatiale Batteries (ASB) % E France France Aerowatt Energies % E France France Aerowatt Energies 2 % E France France Aerowatt Energies Nogara % E France France Aerowatt Energies Nogara 2 % E France France Alcad AB % Sweden Sweden Altinergie % E France France Angola LNG Limited % E Bermuda Angola Arctic LNG 2 LLC (c) % E Russia Russia ATJV Offshore % E Singapore Singapore Bassin Du Capiscol % France France Biogaz Breuil % France France Biogaz Chatillon % France France Biogaz Corcelles % France France Biogaz Epinay % France France Biogaz Libron % France France Biogaz Milhac % France France Biogaz Soignolles % France France Biogaz Torcy % France France Biogaz Vert Le Grand % France France Biogaz Viriat % France France Borrowed Sunshine II Parent, LLC % United States United States Borrowed Sunshine II, LLC % United States United States BSP Class B Member HoldCo, LLC % United States United States BSP Class B Member, LLC % United States United States BSP Holding Company, LLC % United States United States BSP II Parent, LLC % United States United States Cameron LNG Holdings LLC % E United States United States Centrale Eolienne De Couloumi % France France Centrale Eolienne De Coume % France France Centrale Eolienne De Dainville % France France Centrale Eolienne De Goulien % France France Centrale Eolienne De La Vallee Gentillesse % France France Centrale Eolienne De L'Olivier % France France Centrale Eolienne Des Malandaux % France France Centrale Eolienne Du Plan Du Pal % France France Centrale Eolienne La Cote Du Moulin A Vent % France France Centrale Eolienne La Croix De Cuitot % France France Centrale Eolienne Les Champs Parents % France France Centrale Eolienne Varades % France France Centrale Hydrolique Alas % France France Centrale Hydrolique Ardon % France France Centrale Hydrolique Arvan % France France Centrale Hydrolique Barbaira % France France Centrale Hydrolique Bonnant % France France Centrale Hydrolique La Buissiere % France France Centrale Hydrolique Previnquieres % France France Centrale Photovoltaique De La Croix % France France Centrale Photovoltaique De Merle Sud % E France France Centrale Photovoltaique Du Seneguier % France France Centrale Photovoltaique Le Barou % France France Centrale Solaire 2 % France United States Centrale Solaire Autoprod % France France Centrale Solaire Base 112 % France France Centrale Solaire Betheniville % E France France Centrale Solaire Briffaut % France France Centrale Solaire Centre Ouest 2 % France France Centrale Solaire Cet De Hesse % France France Centrale Solaire Chemin De Melette % France France Centrale Solaire Couloumine % France France Centrale Solaire De Cazedarnes % France France Centrale Solaire de la Med % France France Centrale Solaire Dom % France France Centrale Solaire Du Centre Ouest % France France Centrale Solaire Du Lavoir % France France Centrale Solaire Du Pla De La Roque % France France Centrale Solaire Estarac % E France France Centrale Solaire Felix % France France Centrale Solaire Ficon % France France Centrale Solaire Forum Laudun % France France Centrale Solaire Fremy % France France Centrale Solaire Gardanne % France France Centrale Solaire Gigognan % E France France Centrale Solaire Guinots % France France Centrale Solaire Heliovale % E France France Centrale Solaire La Metairie % France France Centrale Solaire La Potence % France France Centrale Solaire La Sauteirane % France France Centrale Solaire La Tastere % France France Centrale Solaire Le Castellet % France France Centrale Solaire Le Cres % E France France Centrale Solaire Les Ancizes % France France Centrale Solaire Les Aspres % France France Centrale Solaire Les Canebieres % France France Centrale Solaire Les Cordeliers % France France Centrale Solaire Les Cordeliers 2 % France France Centrale Solaire Les Galliennes % France France Centrale Solaire Les Melettes % France France Centrale Solaire Lodes % France France Centrale Solaire Lyreco % France France Centrale Solaire Manosque Ombriere % France France Centrale Solaire Mazeran Lr % France France Centrale Solaire Mazeran Paca % France France Centrale Solaire Olinoca % E France France Centrale Solaire Ombrieres Cap Agathois % France France Centrale Solaire Ombrieres De Blyes % France France Centrale Solaire Ombrieres De Boujan % France France Centrale Solaire Ombrieres P5 % France France Centrale Solaire Pezenas % France France Centrale Solaire Piennes % France France Centrale Solaire Plateau De Pouls % France France Centrale Solaire Pont Sur Sambre % France France Centrale Solaire Quadrao % France France Centrale Solaire Sableyes % E France France Centrale Solaire SPW2 % France France Centrale Solaire Supdevenergie % France France Centrale Solaire Toiture Josse % France France Centrale Solaire Valorbi % France France Centrale Solaire Viguier % France France Centrale Solaire Zabo % France France Centrale Solaire Zabo 2 % France France Co Biogaz % E France France Cogenra Solar, Inc. % United States United States Colón LNG Marketing S. de R. L. % E Panama Panama Cote d'Ivoire GNL % E Côte d'Ivoire Côte d'Ivoire DAJA 148 % France France DAJA 154 % France France DAJA 160 % France France Dongfang Huansheng Photovoltaic (Jiangsu) Company Limited % E China United States Electricite Solaire De Molleges % France France Eole Balaze 2 % E France France Eole Balaze S.A.R.L. % E France France Eole Boin % France France Eole Broceliande % France France Eole Champagne Conlinoise % France France Eole Cote Du Moulin % France France Eole Desirade 4 % E France France Eole Du Bocage % France France Eole Fonds Caraibes % France France Eole Grand Maison % France France Eole La Montagne % France France Eole La Motelle % E France France Eole La Perriere S.A.R.L. % France France Eole Les Buissons % France France Eole Les Patoures % France France Eole Maxent % E France France Eole Morne Carriere % France France Eole Morne Constant % France France Eole Moulin Tizon % France France Eole Petit Fougeray % France France Eole Petite Place % E France France Eole Pierrefitte Es Bois % France France Eole Saint-Jean Lachalm % France France Eole Sorbon II % France France Eole Sorbon S.A.R.L. % France France Eole Yate % France France Eoliennes Arques 1 % France France Eoliennes Arques 2 % France France Eoliennes Arques 3 % France France Eoliennes De La Chaussee Brunehaut % France France Eoliennes De La Chaussee Brunehaut 1 % France France Eoliennes De La Chaussee Brunehaut 2 % France France Eoliennes De La Chaussee Brunehaut 3 % France France Eoliennes De La Chaussee Brunehaut 4 % France France Eoliennes De La Chaussee Brunehaut 5 % France France Eoliennes De L'Ourcq Et Du Clignon % France France Eoliennes Du Champ Chardon % France France Eoloue % E France France Fast Jung KB % Sweden Sweden Finansol 1 % France France Finansol 2 % France France Finansol 3 % France France Fosmax LNG % E France France Frieman & Wolf Batterietechnick GmbH % Germany Germany Gas Del Litoral SRLCV % E Mexico Mexico GFS I Class B Member, LLC % United States United States Gfs I Holding Company, LLC % United States United States Glaciere De Palisse % France France Global Energy Armateur SNC % France France Global LNG Armateur S.A.S. % France France Global LNG Downstream S.A.S. % France France Global LNG North America Corporation % United States United States Global LNG S.A.S. % France France Global LNG Supply S.A. % France France Global LNG UK Limited % United Kingdom United Kingdom Go Electric % United States United States Golden Fields Solar I, LLC % United States United States Goodfellow Solar Construction, LLC % United States United States Goodfellow Solar II, LLC % United States United States Goodfellow Solar III, LLC % United States United States Greenflex Actirent Group, S.L. % Spain Spain Greenflex S.A.S. % France France Gulf Total Tractebel Power Company PSJC % E United Arab Emirates United Arab Emirates Helio 100 Kw % France France Helio 21 % France France Helio 974 Toitures % France France Helio Bakia % France France Helio Beziers % E France France Helio Boulouparis % France France Helio Boulouparis 2 % France France Helio Florensac % E France France Helio Fonds Caraibes % France France Helio Koumac % France France Helio La Perriere % E France France Helio Logistique % E France France Helio L'R % France France Helio Moindah % France France Helio Orange % E France France Helio Piin Patch % France France Helio Popidery % France France Helio Reunion % France France Helio Tamoa % France France Helio Temala % France France Helix Project III, LLC % United States United States Helix Project V, LLC % United States United States HETTY % France France Holding Eole 2018 % France France Holding Otev % France France Holding Pdr % France France Huaxia CPV (Inner Mongolia) Power Corporation, Limited % E China United States Hydro Tinee % E France France Hydro-M Ingenierie Des Energies Renouvelables % France France Hydromons % France France Ichthys LNG PTY Limited % E Australia Australia Institut Photovoltaique D'Ile De France (IPVF) % France France Ise Total Nanao Power Plant G.K. % E Japan Japan JDA Overseas Holdings, LLC % United States United States Jingdan New Energy investment (Shanghai) Co. Ltd % E China China Jmb Hydro S.A.R.L. % France France Jmb Solar % France France Jmb Solar Nogara % France France Jmcp % France France Kozani Energy Anonymi Energeiaki Etaireia distinctive title Kozani Energy S.A. % Greece Greece Kozani Energy Malta Limited % Malta Malta LA Basin Solar I, LLC % United States United States La Compagnie Electrique de Bretagne % France France La Metairie Neuve % E France France La Seauve % France France Lampiris S.A. % Belgium Belgium Lemoore Stratford Land Holdings IV, LLC % United States United States Les Eoliennes De Conquereuil % France France Les Moulins A Vent De Kermadeen % France France Les Vents De Nivillac % France France Les Vents De Ranes % France France Libcom % France France Libwatt % France France Lincoln Solar Star, LLC % United States United States Margeriaz Energie % France France Marysville Unified School District Solar, LLC % United States United States Maxeon Solar Technologies, Pte. Ltd. % Singapore United States Messigaz SNC % France France Methanergy % France France Missiles & Space Batteries Limited % E United Kingdom United Kingdom Miyagi Osato Solar Park G.K. % Japan Japan Miyako Kuzakai Solarpark G.K. % E Japan Japan Mojave Solar Investment, LLC % United States United States Mulilo Prieska PV (RF) Proprietary Limited % E South Africa South Africa National Gas Shipping Company Limited % E United Arab Emirates United Arab Emirates NEM Solar Targetco, LLC % United States United States Nigeria LNG Limited % E Nigeria Nigeria NorthStar Energy Management, LLC % United States United States Northstar Santa Clara County 2016, LLC % United States United States Nouvelle Centrale Eolienne de Lastours % E France France Nouvelle Entreprise D'Energie Solaire % E France France Nyk Armateur S.A.S. % E France France Oman LNG, LLC % E Oman Oman Ombrieres Te Vendres % France France Parc Des Hauts Vents % E France France Parc Eolien De Nesle La Reposte % France France Parc Eolien Nordex III % E France France Parc Eolien Nordex XXIX % E France France Parc Eolien Nordex XXX % E France France Parc Solaire De Servian % France France Parc Solaire De Servian 2 % France France Partrederiet Bw Gas Global LNG % E Norway Norway Perpetual Sunhine Solar Program I, LLC % United States United States Perpetual Sunshine I, LLC % United States United States Photovoltaic Park Malta Limited % Malta United States Photovoltaica Parka Veroia Anonymi Etaireia % Greece Greece Pos % France France Pos Production Ii % France France Pos Production Iii % France France Pos Production Iv % France France Pos Production V % France France PV Salvador SPA % E Chile Chile Qatar Liquefied Gas Company Limited % E Qatar Qatar Qatar Liquefied Gas Company Limited (II) % E Qatar Qatar Quadran Caraibes % France France Quadran Holding Nc % France France Quadran Nogara % France France Quadran Pacific % France France Quadrelio % France France Quadrica % E France France Roquefort Solar % E France France Rosamond Raven Holdings, LLC % United States United States Saft (Zhuhai FTZ) Batteries Company Limited % China China Saft (Zhuhai) Energy Storage Co % China China Saft AB % Sweden Sweden Saft Acquisition S.A.S. % France France Saft America Inc. % United States United States Saft AS % Norway Norway Saft Australia PTY Limited % Australia Australia Saft Batterias SL % Spain Spain Saft Batterie Italia S.R.L. % Italy Italy Saft Batterien GmbH % Germany Germany Saft Batteries Pte Limited % Singapore Singapore Saft Batteries PTY Limited % Australia Australia Saft Batterijen B.V. % Netherlands Netherlands Saft Do Brasil Ltda % Brazil Brazil Saft Ferak AS % Czech Republic Czech Republic Saft Finance S.A.R.L. % Luxembourg Luxembourg Saft Groupe S.A. % France France Saft Hong Kong Limited % Hong Kong Hong Kong Saft India Private Limited % India India Saft Japan KK % Japan Japan Saft Limited % United Kingdom United Kingdom Saft LLC % Russia Russia Saft Nife ME Limited % Cyprus Cyprus Saft S.A.S. % France France SGS Antelope Valley Development, LLC % United States United States Sgula (East) Green Energies Limited % Israel United States Shams Power Company PJSC % E United Arab Emirates United Arab Emirates Smalt Energie % France France Societe Champenoise d'Energie % E France France Societe d'exploitation de centrales photovoltaiques 1 % France France Societe Economie Mixte Production Energetique Renouvelable % E France France Solaire Grand Sud % France France Solaire Libron % France France Solaire Villon % E France France Solar Carport NJ, LLC % United States United States Solar Energies % E France France Solar Mimizan % France France Solar Sail Commercial Holdings, LLC % United States United States Solar Sail Holdings, LLC % United States United States Solar Sail, LLC % United States United States Solar Star Always Low Prices Ct, LLC % United States United States Solar Star Always Low Prices Hi, LLC % United States United States Solar Star Always Low Prices Il, LLC % United States United States Solar Star Always Low Prices Ma, LLC % United States United States Solar Star Arizona HMR-I, LLC % United States United States Solar Star Arizona II, LLC % United States United States Solar Star Arizona VII, LLC % United States United States Solar Star Bay City 2, LLC % United States United States Solar Star California I, LLC % United States United States Solar Star California IV, LLC % United States United States Solar Star California LXXV, LLC % United States United States Solar Star California LXXVI, LLC % United States United States Solar Star California XXXV, LLC % United States United States Solar Star California XXXVI, LLC % United States United States Solar Star California XXXVIII, LLC % United States United States Solar Star Co Co 1, LC % United States United States Solar Star Coastal Pirate, LLC % United States United States Solar Star Colorado II, LLC % United States United States Solar Star Cougars, LLC % United States United States Solar Star HD Connecticut, LLC % United States United States Solar Star HD Maryland, LLC % United States United States Solar Star HD New Jersey, LLC % United States United States Solar Star HD New York, LLC % United States United States Solar Star Healthy 1, LLC % United States United States Solar Star Healthy Lake, LLC % United States United States Solar Star IL – TFS, LLC % United States United States Solar Star Irwd Baker, LLC % United States United States Solar Star Kale 1, LLC % United States United States Solar Star Kale 2 % United States United States Solar Star Khsd, LLC % United States United States Solar Star LCR Culver City, LLC % United States United States Solar Star LCR Irvine, LLC % United States United States Solar Star LCR LA 1, LLC % United States United States Solar Star LCR LA 2, LLC % United States United States Solar Star LCR Split 1, LLC % United States United States Solar Star LCR Split 2, LLC % United States United States Solar Star MA - Tewksbury, LLC % United States United States Solar Star Massachusetts II, LLC % United States United States Solar Star Massachusetts III, LLC % United States United States Solar Star Maxx 1, LLC % United States United States Solar Star Northwestern University, LLC % United States United States Solar Star Parent CRC Kern Front, LLC % United States United States Solar Star Parent CRC Mt. Poso, LLC % United States United States Solar Star Parent CRC North Shafter, LLC % United States United States Solar Star Parent CRC Pier A West, LLC % United States United States Solar Star Parent CRC Yowlumne 1 North, LLC % United States United States Solar Star Parent CRC Yowlumne 2 South, LLC % United States United States Solar Star Prairie Holding, LLC % United States United States Solar Star Prime 2, LLC % United States United States Solar Star Prime 3, LLC % United States United States Solar Star Prime 4, LLC % United States United States Solar Star Rancho CWD I, LLC % United States United States Solar Star River, LLC % United States United States Solar Star Track, LLC % United States United States Solar Star Urbana Landfill Central, LLC % United States United States Solar Star Urbana Landfill East, LLC % United States United States Solar Star Urbana Landfill West, LLC % United States United States Solar Star Wildcats, LLC % United States United States Solar Star Woodlands St Cr, LLC % United States United States SolarBridge Technologies Inc. % United States United States Solarstar Billerica I, LLC % United States United States Solarstar Ma I, LLC % United States United States Solarstar Prime I, LLC % United States United States SolarStorage Fund A, LLC % United States United States SolarStorage Fund B, LLC % United States United States SolarStorage Fund C, LLC % United States United States Sophye Lacmort % E France France South Hook LNG Terminal Company Limited % E United Kingdom United Kingdom SPML Land Inc. % Philippines Philippines SPWR SS 1, LLC % United States United States SPWR SunStrong Holdings, LLC % United States United States SREC NE II Holdings, LLC % United States United States SREC NE II, LLC % United States United States SSCA XLI Holding Company, LLC % United States United States SunPower AssetCo, LLC % United States United States SunPower Bermuda Holdings % Bermuda Bermuda SunPower Bobcat Solar, LLC % United States United States SunPower Capital Services, LLC % United States United States SunPower Capital, LLC % United States United States SunPower Commercial FTB Construction, LLC % United States United States SunPower Commercial Holding Company FTB SLB Parent, LLC % United States United States SunPower Commercial Holding Company FTB SLB, LLC % United States United States Sunpower Commercial St Revolver, LLC % United States United States SunPower Corp Israel Limited % Israel Israel SunPower Corporation % United States United States SunPower Corporation (Switzerland) S.A.R.L. % Switzerland Switzerland SunPower Corporation Australia PTY Limited % Australia Australia SunPower Corporation Limited % Hong Kong United States SunPower Corporation Mexico, S. de R.L. de C.V. % Mexico Mexico SunPower Corporation Southern Africa (PTY) Limited % South Africa France SunPower Corporation SPA % Chile Chile SunPower Corporation UK Limited % United Kingdom United Kingdom SunPower Corporation, Systems % United States United States SunPower DevCo, LLC % United States United States SunPower Energia SPA % Chile Chile SunPower Energy Corporation Limited % Hong Kong United States SunPower Energy Solutions France S.A.S. % France France SunPower Energy Systems Canada Corporation % Canada Canada SunPower Energy Systems Korea % South Korea South Korea SunPower Energy Systems Singapore PTE Limited % Singapore Singapore SunPower Energy Systems Southern Africa (PTY) Limited % South Africa South Africa SunPower Energy Systems Spain, SL % Spain Spain SunPower Equity Holdings, LLC % United States United States SunPower Foundation % United States United States SunPower GmbH % Germany Germany SunPower Helix I, LLC % United States United States SunPower HoldCo, LLC % United States United States SunPower Italia S.R.L. % Italy Italy SunPower Japan KK % Japan Japan SunPower Malaysia Manufacturing Sdn. Bhd. % Malaysia Malaysia SunPower Malta Limited % Malta Malta SunPower Manufacturing (PTY) Limited % South Africa South Africa SunPower Manufacturing Corporation Limited % Hong Kong United States SunPower Manufacturing de Vernejoul % France France SunPower Manufacturing Oregon, LLC % United States United States SunPower Muhendislik Insaat Enerji Üretim ve Ticaret A.S % Turkey Turkey SunPower Nanao Parent, LLC % United States United States SunPower Netherlands B.V. % Netherlands Netherlands SunPower North America, LLC % United States United States SunPower NY CDG 1,LLC % United States United States SunPower Osato Parent, LLC % United States United States SunPower Philippines Limited - Regional Operating Headquarters % Cayman Islands Cayman Islands SunPower Philippines Manufacturing Limited % Cayman Islands Cayman Islands SunPower Revolver HoldCo I Parent, LLC % United States United States SunPower Revolver HoldCo I, LLC % United States United States SunPower Solar Energy Technology (Tianjin) Corporation, Limited % China United States SunPower Solar India Private Limited % India India SunPower Solar Malaysia Sdn. Bhd. % Malaysia Malaysia SunPower Systems Belgium SPRL % Belgium Belgium SunPower Systems International Limited % Hong Kong United States SunPower Systems Mexico S. de R.L. de C.V. % Mexico Mexico SunPower Systems S.A.R.L. % Switzerland Switzerland SunPower Technologies France S.A.S. % France France Sunpower Technologies, Inc. % United States United States SunPower Technology Limited % Cayman Islands Cayman Islands SunStrong Capital Acquisition 3, LLC % United States United States Sunstrong Capital Holdings, LLC % E United States United States SunStrong Partners, LLC % E United States United States Sunzil % E France France Sunzil Caraibes % E France France Sunzil Mayotte S.A.S. % E France France Sunzil Ocean Indien % E France France Sunzil Pacific % E France France Sunzil Polynesie % E France France Sunzil Polynesie Services % E France France Sunzil Services Caraibes % E France France Sunzil Services Ocean Indien % E France France Swingletree Operations, LLC % United States United States Tadiran Batteries GmbH % Germany Germany Tadiran Batteries Limited % Israel Israel Temasol % Morocco Morocco Tenesol SPV 1 % France France Tenesol Venezuela % Venezuela Venezuela Thezan Solar % France France Tianneng Saft Energy Joint Stock Company % E China China Toitures Capiscol % France France Total Carbon Neutrality Ventures Europe % France France Total Carbon Neutrality Ventu |
General accounting policies (Po
General accounting policies (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
General accounting policies | |
Basis of preparation of the consolidated financial statements | Basis of preparation of the consolidated financial statements The Consolidated Financial Statements of TOTAL S.A. and its subsidiaries (the Group) 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, 2019. The accounting principles applied for the consolidated financial statements at December 31, 2019, were the same as those that were used for the financial statements at December 31, 2018, with the exception of those texts or amendments that must be applied for periods beginning January 1, 2019. |
First-time application of IFRS 16 "Leases" | Ø First-time application of IFRS 16 "Leases" As part of the first application of IFRS 16 "Leases" as of January 1, 2019, the Group: - - o o - recognized each lease component as a separate lease, separately from non-lease components of the lease (services); - The impact of the application of this standard as at January 1, 2019 is $5,698 million on fixed assets, $(5,505) million on net debt and $(193) million on other assets and liabilities. The weighted average incremental borrowing rate of 4.5% at transition date was determined on the basis of the initial duration of the contracts. The impact on fixed assets is broken down as follows: (in M$) Right of use of buildings 2,278 Right of use of machinery, plant and equipment (including transportation equipment) 2,632 Other right of use 788 Total 5,698 Other information related to the application of IFRS 16 "Leases" are presented in note 13.2 "Leases". Further to the review of leases entered into as part of joint operations, in accordance with the IFRS Interpretations Committee (IFRIC) decision, all liabilities related to such leases have been recognized as at September 30, 2019 when the group has primary responsibility of the lease payments. When the right of use of the asset is jointly controlled by the group and the other partners, a financial receivable has been recognized for the portion of the asset transferred to the partners. |
First-time application of IFRIC 23, "Uncertainty over Income Tax Treatments" | Ø First-time application of IFRIC 23, “Uncertainty over Income Tax Treatments” The Group applied IFRIC 23 “Uncertainty over Income Tax Treatments” as of January 1 st 2019. IFRIC 23 clarifies application of the recognition, measurement and presentation of IAS 12 “Income Taxes” provisions, when there is uncertainty over income tax treatments under that standard. The effect of the first application of the standard on the Group’s financial statements, as at January 1, 2019, is non-material. |
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, 2019 requires the executive 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 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 the Group to account for its oil and gas activities. The Group’s oil and gas reserves are estimated by the Group’s petroleum engineers in accordance with industry standards and SEC ( U.S. Securities and Exchange Commission) regulations. 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. The Group 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 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 (IAS36), the estimates, assumptions and judgments mainly concern hydrocarbon prices scenarios, operating costs, production volumes and oil and gas proved 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. Asset impairment and the method applied are described in Note 3 “Business segment information”. 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 Group 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 based on taxable profits existing at the closing date 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 the Group 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”. |
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 | 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. The Group accounts for joint operations by recognizing its share of assets, liabilities, income and expenses. Investments in associates, in which the Group has significant influence, are accounted for by the equity method. Significant influence is presumed when the Group 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 the Company 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 the Group at their fair value. The value of the purchase price 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 policies In accordance with IFRS 3 “Business combinations”, TOTAL 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 . |
Foreign currency translation | Foreign currency translation The presentation currency of the Group's 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 1st July 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 the Group 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 the Group share) or under “Non-controlling interests” (for the share of non-controlling interests) as deemed appropriate. |
Significant accounting policies applicable in the future | Significant accounting policies applicable in the future 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, 2019, are as follows: Ø Standards not yet adopted by the European Union at December 31, 2019 In September 2019, the IASB published an amendment to IFRS9, IAS39 and IFRS7 in response to the IBOR reform applicable as of January 1, 2020. As at December 31, 2019, IBOR rates are still reference rates on the financial markets and are used for the measurement of financial instruments with maturity dates exceeding the expected replacement date of those rates. As at December 31, 2019, the Group considers that the current market structure justifies the continuity of hedge accounting. |
Divestment projects | Divestment projects Accounting policies 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 policies 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 the Group 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 the Group 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 the Group 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. Quantities delivered that represent production royalties and taxes, when paid in cash, are included in oil and gas 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 sales. Exchanges of crude oil and petroleum products within normal trading activities do not generate any income and therefore these flows 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 the Group and the customer. Income related to the distribution of electricity and gas are not recognized in revenues because the Group acts as an agent in this transaction. The Group 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 the Group to determine that it was acting as principal in these transactions. Therefore sales include excise taxes collected by the Group within the course of its oil distribution operations. Excise taxes are deducted from sales in order to obtain the “Revenues from sales” indicator. |
Operating expenses | Accounting policies The Group 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 | Research and development costs Accounting policies Research costs are charged to expense as incurred. Development expenses are capitalized when the criteria of IAS38 are met. |
Inventories | Inventories Accounting policies 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 costs 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 the Group’s 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 refined products include mainly raw materials costs, production costs (energy, labor, depreciation of producing assets) 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 the Group are valued at their purchase cost plus primary costs of transport. Carbon dioxide emission rights In the absence of a current IFRS standard or interpretation on accounting for emission rights of carbon dioxide, 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. - At each closing, a provision is recorded in order to materialize the obligation to surrender emission rights related to the emissions of the period. This provision is calculated based on estimated emissions of the period, valued at weighted average cost of the inventories at the end of the period. It is reversed when the emission rights are surrendered; - If emission rights to be surrendered at the end of the compliance period are higher than emission rights recorded in inventories, 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. |
Carbon dioxide emission rights | Carbon dioxide emission rights In the absence of a current IFRS standard or interpretation on accounting for emission rights of carbon dioxide, 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. - At each closing, a provision is recorded in order to materialize the obligation to surrender emission rights related to the emissions of the period. This provision is calculated based on estimated emissions of the period, valued at weighted average cost of the inventories at the end of the period. It is reversed when the emission rights are surrendered; - If emission rights to be surrendered at the end of the compliance period are higher than emission rights recorded in inventories, 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 | 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 | Cash flow from operating activities Accounting policies The Consolidated Statement of Cash Flows prepared in currencies other than dollar has been translated into dollars using the exchange rate on the transaction date or the average exchange rate for the period. Currency translation differences arising from the translation of monetary assets and liabilities denominated in foreign currency into dollars using the closing exchange rates are shown in the Consolidated Statement of Cash Flows under “Effect of exchange rates”. Therefore, the Consolidated Statement of Cash Flows will not agree with the figures derived from the Consolidated Balance Sheet. |
Intangible assets | Intangible assets Accounting policies 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, trademarks, and lease rights. 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 to twenty years depending on the useful life of the assets. The corresponding expense is recorded under other expense. |
Property, plant and equipment | 7.2) Property, plant and equipment Accounting policies Exploration costs The Group 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 a well-by-well 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 temporarily capitalized until a determination is made as to whether the well has found proved reserves 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; The Group 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 the Group is waiting for governmental or other third-party authorization of 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. Oil and Gas producing 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 producing assets is equal to the ratio of oil and gas production for the period to proved developed reserves (unit-of-production method). 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 the Group 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 (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 duration of use of 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: if the project benefits from a specific funding, the capitalization of borrowing costs is based on the borrowing rate; if the project is financed by all the Group’s debt, the capitalization of borrowing costs is based on the weighted average borrowing cost for the period. 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 | 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 the Group’s share of the net income and other comprehensive income of the associate or joint venture. Unrealized gains on transactions between the Group and its equity-accounted entities are eliminated to the extent of the Group’s interest in the equity accounted entity. In equity affiliates, goodwill is included in investment book value. In cases where the group holds less than 20% of the voting rights in another entity, the determination of whether the Group 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 | Other investments Accounting policies 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 and record the changes of fair value in other comprehensive income. For these securities, only dividends can be recognized in profit or loss. The Group recognizes changes in fair value in equity or in profit or loss according to the option chosen on an instrument by instrument basis. For securities traded in active markets, this fair value is equal to the market price. Securities whose fair value is not reliably determinable, are recorded at their acquisition value. For years prior to the application of IFRS 9, equity instruments were classified as available for sale financial assets and measured at fair value. For securities traded in active markets, this fair value was equal to the market price. Changes in fair value were recorded in other comprehensive income. If there was any evidence of a significant or long-lasting impairment loss, a loss was recorded in the statement of income. This impairment was irreversible. For other securities, if the fair value was not reliably determinable, the securities were recorded at their historical value. |
Treasury shares | Treasury shares Accounting policies Treasury shares of the parent company held by its subsidiaries or itself 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 | Earnings per share Accounting policies Earnings per share is calculated by dividing net income (Group share) by the weighted-average number of common shares outstanding during the period, excluding TOTAL shares held by TOTAL S.A. (Treasury shares) which are deducted from consolidated shareholders’ equity. Diluted earnings per share is calculated by dividing net income (Group share) by the fully-diluted weighted-average number of common shares outstanding during the period. Treasury shares held by the parent company, TOTAL S.A. are deducted from consolidated shareholders’ equity. These shares are not considered outstanding for purposes of this calculation which also takes into account the dilutive effect of share subscription or purchase options plans, 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 | Share-based payments Accounting policies The Group may grant employees share subscription or purchase options 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 restricted share 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 global cost is reduced to take into account the non-transferability over a 2-year holding period of the shares that could be awarded. 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 all the shares subscribed using both the classic and the leveraged schemes, and the opportunity gain for the shares subscribed using the leveraged scheme. 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. The global cost is reduced to take into account the non-transferability of the shares that could be subscribed by the employees over a period of five years. |
Employee benefits obligations | Employee benefits obligations Accounting policies In accordance with the laws and practices of each country, the Group 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-Group 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 | Income taxes Accounting policies Income taxes disclosed in the statement of income include the current tax expenses (or income) and the deferred tax expenses (or income). The expense (or income) of current tax is the estimated amount of the tax due for the taxable income of the period. The Group uses the method whereby 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 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 | Provisions and other non-current liabilities Accounting policies A provision is recognized when the Group 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 | Changes in the asset retirement obligation Accounting policies 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 risk-free 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 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 | 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. 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 the Group. 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 | Cash and cash equivalents Accounting policies Cash and cash equivalents are comprised 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 policies The Group 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 statement of income 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 the Group are the following: - Cash management Financial instruments used for cash management purposes are part of a hedging strategy of currency and interest rate risks within global limits set by the Group and are considered to be held for trading. Changes in fair value are systematically recorded in the statement of income. The balance sheet value of those instruments is included in “Current financial assets” or “Other current financial liabilities”. - Long-term financing 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: i. 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 statement of income, 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 statement of income and: If this termination is due to an early cancellation of the hedged items, the adjustment previously recorded as revaluation of those hedged items is also recognized in the statement of income; If the hedged items remain in the balance sheet, the adjustment previously recorded as a revaluation of those hedged items is spread over the remaining life of those items. 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), the Group designates the new instrument as a hedging instrument of an aggregated position (CFH) without having to end the initial hedging relationship. ii. Cash flow hedge when the Group 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 statement of income 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. iii. In compliance with IFRS9, the Group 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. - Foreign subsidiaries’ equity hedge 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 statement of income for the ineffective portion of the hedging. Gains or losses on hedging instruments previously recorded in equity, are reclassified to the statement of income 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” or ”Other current financial liabilities”. - Commitments to purchase shares held by non-controlling interests (put options written on minority interests) 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. 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 statement of income (cost of debt). |
Fair value hierarchy | Fair value hierarchy Accounting policies Fair values are estimated for the majority of the Group’s 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 the interest rate swaps and of FRA’s (Forward Rate Agreements) are 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 | Financial instruments related to commodity contracts Accounting policies 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 such as energy contracts and forward freight agreements, are used to adjust the Group’s exposure to price fluctuations within global trading limits. According to the industry practice, these instruments are considered as held for trading. Changes in fair value are recorded in the statement of income. The fair value of these instruments is recorded in “Other current assets” or “Other creditors and accrued liabilities” depending on whether they are assets or liabilities. 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 particular 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, 2019 | |
Notes to the Consolidated Financial Statements | |
Schedule of impact on fixed assets due to adoption of IFRS 16 | Right of use of buildings 2,278 Right of use of machinery, plant and equipment (including transportation equipment) 2,632 Other right of use 788 Total 5,698 |
Changes in the Group structure
Changes in the Group structure (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Anadarko Mozambique | |
Major business combinations | |
Summary of purchase price allocation | (M$) At the acquisition date Goodwill 136 Intangible assets 3,751 Tangible assets 767 Other assets and liabilities (309) Acquired cash 81 Fair value of consideration 4,426 |
Business segment information (T
Business segment information (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Business segment information | |
Schedule of information by business segment | Integrated Exploration Gas, Refining Marketing For the year ended December 31, 2019 & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total Non-Group sales 7,261 18,167 87,598 87,280 10 — 200,316 Intersegment sales 31,329 2,825 32,390 659 125 (67,328) — Excise taxes — — (3,015) (21,052) — — (24,067) Revenues from sales 38,590 20,992 116,973 66,887 135 (67,328) 176,249 Operating expenses (16,389) (18,316) (112,104) (63,855) (925) 67,328 (144,261) Depreciation, depletion and impairment of tangible assets and mineral interests (11,659) (1,492) (1,527) (980) (73) — (15,731) Operating income 10,542 1,184 3,342 2,052 (863) — 16,257 Net income (loss) from equity affiliates and other items 610 2,330 322 101 42 — 3,405 Tax on net operating income (4,572) (741) (470) (598) 155 — (6,226) Net operating income 6,580 2,773 3,194 1,555 (666) — 13,436 Net cost of net debt (1,998) Non-controlling interests (171) Net income - group share 11,267 Integrated For the year ended December 31, 2019 Exploration Gas, Refining Marketing (adjustments) (a) & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total Non-Group sales — (64) — — — — (64) Intersegment sales — — — — — — — Excise taxes — — — — — — — Revenues from sales — (64) — — — — (64) Operating expenses (145) (240) 397 (40) (112) — (140) Depreciation, depletion and impairment of tangible assets and mineral interests (721) (156) (41) (2) — — (920) Operating income (b) (866) (460) 356 (42) (112) — (1,124) Net income (loss) from equity affiliates and other items (112) 974 (83) (83) — — 696 Tax on net operating income 49 (130) (82) 27 (73) — (209) Net operating income (b) (929) 384 191 (98) (185) — (637) Net cost of net debt (15) Non-controlling interests 91 Net income - group share (561) (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. (b) Of which inventory valuation effect On operating income — — 477 (31) — On net operating income — — 371 (14) — Integrated For the year ended December 31, 2019 Exploration Gas, Refining Marketing (adjusted) & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total Non-Group sales 7,261 18,231 87,598 87,280 10 — 200,380 Intersegment sales 31,329 2,825 32,390 659 125 (67,328) — Excise taxes — — (3,015) (21,052) — — (24,067) Revenues from sales 38,590 21,056 116,973 66,887 135 (67,328) 176,313 Operating expenses (16,244) (18,076) (112,501) (63,815) (813) 67,328 (144,121) Depreciation, depletion and impairment of tangible assets and mineral interests (10,938) (1,336) (1,486) (978) (73) — (14,811) Adjusted operating income 11,408 1,644 2,986 2,094 (751) — 17,381 Net income (loss) from equity affiliates and other items 722 1,356 405 184 42 — 2,709 Tax on net operating income (4,621) (611) (388) (625) 228 — (6,017) Adjusted net operating income 7,509 2,389 3,003 1,653 (481) — 14,073 Net cost of net debt (1,983) Non-controlling interests (262) Adjusted net income - group share 11,828 Integrated For the year ended December 31, 2019 Exploration Gas, Refining Marketing (M$) & Renewables & & Production & Power Chemicals Services Corporate Intercompany Total Total expenditures 8,992 7,053 1,698 1,374 120 19,237 Total divestments 368 1,108 322 249 13 2,060 Cash flow from operating activities 16,917 3,461 3,837 2,604 (2,134) 24,685 Balance sheet as of December 31, 2019 Property, plant and equipment, intangible assets, net 98,894 29,597 12,196 8,316 583 149,586 Investments & loans in equity affiliates 7,631 15,271 3,787 433 — 27,122 Other non-current assets 4,484 2,993 744 1,179 1,009 10,409 Working capital 2,617 (1,192) 796 178 (3,909) (1,510) Provisions and other non-current liabilities (25,208) (5,488) (3,898) (1,531) 153 (35,972) Assets and liabilities classified as held for sale 426 368 — — — 794 Capital Employed (Balance sheet) 88,844 41,549 13,625 8,575 (2,164) 150,429 Less inventory valuation effect — — (1,397) (204) — (1,601) Capital Employed (Business segment information) 88,844 41,549 12,228 8,371 (2,164) 148,828 ROACE as a percentage 8 % 6 % 26 % 22 % 10 % Integrated For the year ended December 31, 2018 Exploration Gas, Refining Marketing (M$) & Renewables & & Production & Power Chemicals Services Corporate Intercompany Total Non-Group sales 9,889 17,236 92,025 90,206 7 — 209,363 Intersegment sales 30,337 2,198 35,462 979 64 (69,040) — Excise taxes — — (3,359) (21,898) — — (25,257) Revenues from sales 40,226 19,434 124,128 69,287 71 (69,040) 184,106 Operating expenses (17,532) (17,679) (120,393) (66,737) (796) 69,040 (154,097) Depreciation, depletion and impairment of tangible assets and mineral interests (10,192) (1,827) (1,222) (709) (42) — (13,992) Operating income 12,502 (72) 2,513 1,841 (767) — 16,017 Net income (loss) from equity affiliates and other items 1,365 1,639 782 307 77 — 4,170 Tax on net operating income (5,770) (471) (445) (532) 375 — (6,843) Net operating income 8,097 1,096 2,850 1,616 (315) — 13,344 Net cost of net debt (1,794) Non-controlling interests (104) Net income - group share 11,446 Integrated For the year ended December 31, 2018 Exploration Gas, Refining Marketing (adjustments) (a) & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total Non-Group sales — 56 — — — — 56 Intersegment sales — — — — — — — Excise taxes — — — — — — — Revenues from sales — 56 — — — — 56 Operating expenses (199) (237) (616) (45) (9) — (1,106) Depreciation, depletion and impairment of tangible assets and mineral interests (707) (1,065) (2) — — — (1,774) Operating income (b) (906) (1,246) (618) (45) (9) — (2,824) Net income (loss) from equity affiliates and other items (128) (247) (116) (5) — — (496) Tax on net operating income 584 170 205 14 — — 973 Net operating income (b) (450) (1,323) (529) (36) (9) — (2,347) Net cost of net debt (67) Non-controlling interests 301 Net income - group share (2,113) (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. (b) Of which inventory valuation effect On operating income — — (589) (6) — On net operating income — — (413) (5) — Integrated For the year ended December 31, 2018 Exploration Gas, Refining Marketing (adjusted) & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total Non-Group sales 9,889 17,180 92,025 90,206 7 — 209,307 Intersegment sales 30,337 2,198 35,462 979 64 (69,040) — Excise taxes — — (3,359) (21,898) — — (25,257) Revenues from sales 40,226 19,378 124,128 69,287 71 (69,040) 184,050 Operating expenses (17,333) (17,442) (119,777) (66,692) (787) 69,040 (152,991) Depreciation, depletion and impairment of tangible assets and mineral interests (9,485) (762) (1,220) (709) (42) — (12,218) Adjusted operating income 13,408 1,174 3,131 1,886 (758) — 18,841 Net income (loss) from equity affiliates and other items 1,493 1,886 898 312 77 — 4,666 Tax on net operating income (6,354) (641) (650) (546) 375 — (7,816) Adjusted net operating income 8,547 2,419 3,379 1,652 (306) — 15,691 Net cost of net debt (1,727) Non-controlling interests (405) Ajusted net income - group share 13,559 Integrated For the year ended December 31, 2018 Exploration Gas, Refining Marketing (M$) & Renewables & & Production & Power Chemicals Services Corporate Intercompany Total Total expenditures 13,789 5,032 1,781 1,458 125 — 22,185 Total divestments 3,674 2,209 919 428 9 — 7,239 Cash flow from operating activities 18,537 596 4,308 2,759 (1,497) — 24,703 Balance sheet as of December 31, 2018 Property, plant and equipment, intangible assets, net 100,997 24,023 10,493 6,343 390 — 142,246 Investments & loans in equity affiliates 6,754 12,349 3,910 431 — — 23,444 Other non-current assets 4,780 3,114 663 1,155 881 — 10,593 Working capital 1,911 420 32 194 (4,064) — (1,507) Provisions and other non-current liabilities (25,042) (6,288) (3,615) (1,465) 125 — (36,285) Assets and liabilities classified as held for sale — 1,128 151 — — — 1,279 Capital Employed (Balance sheet) 89,400 34,746 11,634 6,658 (2,668) — 139,770 Less inventory valuation effect — — (1,035) (216) — — (1,251) Capital Employed (Business segment information) 89,400 34,746 10,599 6,442 (2,668) — 138,519 ROACE as a percentage 10 % 7 % 31 % 25 % 12 % Integrated Exploration Gas, Refining Marketing For the year ended December 31, 2017 & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total Non-Group sales 6,527 14,804 75,505 74,634 23 — 171,493 Intersegment sales 21,956 1,679 26,844 857 374 (51,710) — Excise taxes — — (3,008) (19,386) — — (22,394) Revenues from sales 28,483 16,483 99,341 56,105 397 (51,710) 149,099 Operating expenses (13,582) (14,536) (94,097) (53,629) (1,107) 51,710 (125,241) Depreciation, depletion and impairment of tangible assets and mineral interests (12,611) (1,721) (1,074) (657) (40) — (16,103) Operating income 2,290 226 4,170 1,819 (750) — 7,755 Net income (loss) from equity affiliates and other items 657 920 2,979 497 54 — 5,107 Tax on net operating income (1,836) (537) (944) (561) 540 — (3,338) Net operating income 1,111 609 6,205 1,755 (156) — 9,524 Net cost of net debt (1,225) Non-controlling interests 332 Net income - group share 8,631 Integrated For the year ended December 31, 2017 Exploration Gas, Refining Marketing (adjustments) (a) & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total Non-Group sales — (20) — — — — (20) Intersegment sales — — — — — — — Excise taxes — — — — — — — Revenues from sales — (20) — — — — (20) Operating expenses (119) (389) 167 (11) (64) — (416) Depreciation, depletion and impairment of tangible assets and mineral interests (3,799) (800) (53) (10) — — (4,662) Operating income (b) (3,918) (1,209) 114 (21) (64) — (5,098) Net income (loss) from equity affiliates and other items (201) (243) 2,177 102 — — 1,835 Tax on net operating income 689 132 124 (2) (114) — 829 Net operating income (b) (3,430) (1,320) 2,415 79 (178) — (2,434) Net cost of net debt (29) Non-controlling interests 516 Net income - group share (1,947) (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. (b) Of which inventory valuation effect On operating income — — 344 13 — On net operating income — — 298 (3) — Integrated For the year ended December 31, 2017 Exploration Gas, Refining Marketing (adjusted) & Renewables & & (M$) Production & Power Chemicals Services Corporate Intercompany Total Non-Group sales 6,527 14,824 75,505 74,634 23 — 171,513 Intersegment sales 21,956 1,679 26,844 857 374 (51,710) — Excise taxes — — (3,008) (19,386) — — (22,394) Revenues from sales 28,483 16,503 99,341 56,105 397 (51,710) 149,119 Operating expenses (13,463) (14,147) (94,264) (53,618) (1,043) 51,710 (124,825) Depreciation, depletion and impairment of tangible assets and mineral interests (8,812) (921) (1,021) (647) (40) — (11,441) Adjusted operating income 6,208 1,435 4,056 1,840 (686) — 12,853 Net income (loss) from equity affiliates and other items 858 1,163 802 395 54 — 3,272 Tax on net operating income (2,525) (669) (1,068) (559) 654 — (4,167) Adjusted net operating income 4,541 1,929 3,790 1,676 22 — 11,958 Net cost of net debt (1,196) Non-controlling interests (184) Adjusted net income - group share 10,578 Integrated For the year ended December 31, 2017 Exploration Gas, Refining Marketing (M$) & Renewables & & Production & Power Chemicals Services Corporate Intercompany Total Total expenditures 10,005 3,594 1,734 1,457 106 — 16,896 Total divestments 1,793 198 2,820 413 40 — 5,264 Cash flow from operating activities (*) 10,719 3,157 7,411 2,221 (1,189) — 22,319 Balance sheet as of December 31, 2017 Property, plant and equipment, intangible assets, net 87,225 19,287 10,820 6,253 399 — 123,984 Investments & loans in equity affiliates 6,954 10,701 4,010 438 — — 22,103 Other non-current assets 5,480 3,204 677 1,060 496 — 10,917 Working capital 3,749 (403) 876 792 (3,650) — 1,365 Provisions and other non-current liabilities (22,372) (2,687) (3,839) (1,544) (106) — (30,549) Assets and liabilities classified as held for sale 1,475 — — 166 — — 1,641 Capital Employed (Balance sheet) 82,511 30,102 12,544 7,165 (2,861) — 129,461 Less inventory valuation effect — — (1,499) (236) 1 — (1,734) Capital Employed (Business segment information) 82,511 30,102 11,045 6,929 (2,860) — 127,727 ROACE as a percentage 5 % 7 % 33 % 26 % 9 % (*) As of January 1st, 2018, for a better reflection of the operating performance of the segments, financial expenses were all transferred to the Corporate segment. 2017 comparative information has been restated. |
Reconciliation of information by business segment with Consolidated Financial Statements | Consolidated For the year ended December 31, 2019 statement of (M$) Adjusted Adjustments (a) income Sales 200,380 (64) 200,316 Excise taxes (24,067) — (24,067) Revenues from sales 176,313 (64) 176,249 Purchases, net of inventory variation (116,464) 243 (116,221) Other operating expenses (26,872) (383) (27,255) Exploration costs (785) — (785) Depreciation, depletion and impairment of tangible assets and mineral interests (14,811) (920) (15,731) Other income 876 287 1,163 Other expense (455) (737) (1,192) Financial interest on debt (2,318) (15) (2,333) Financial income and expense from cash & cash equivalents (19) — (19) Cost of net debt (2,337) (15) (2,352) Other financial income 792 — 792 Other financial expense (764) — (764) Net income (loss) from equity affiliates 2,260 1,146 3,406 Income taxes (5,663) (209) (5,872) Consolidated net income 12,090 (652) 11,438 Group share 11,828 (561) 11,267 Non-controlling interests 262 (91) 171 (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. Consolidated For the year ended December 31, 2018 statement of (M$) Adjusted Adjustments (a) income Sales 209,307 56 209,363 Excise taxes (25,257) — (25,257) Revenues from sales 184,050 56 184,106 Purchases, net of inventory variation (125,134) (682) (125,816) Other operating expenses (27,060) (424) (27,484) Exploration costs (797) — (797) Depreciation, depletion and impairment of tangible assets and mineral interests (12,218) (1,774) (13,992) Other income 1,518 320 1,838 Other expense (448) (825) (1,273) Financial interest on debt (1,866) (67) (1,933) Financial income and expense from cash & cash equivalents (188) — (188) Cost of net debt (2,054) (67) (2,121) Other financial income 1,120 — 1,120 Other financial expense (685) — (685) Net income (loss) from equity affiliates 3,161 9 3,170 Income taxes (7,489) 973 (6,516) Consolidated net income 13,964 (2,414) 11,550 Group share 13,559 (2,113) 11,446 Non-controlling interests 405 (301) 104 (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. Consolidated For the year ended December 31, 2017 statement of (M$) Adjusted Adjustments (a) income Sales 171,513 (20) 171,493 Excise taxes (22,394) — (22,394) Revenues from sales 149,119 (20) 149,099 Purchases, net of inventory variation (99,534) 123 (99,411) Other operating expenses (24,427) (539) (24,966) Exploration costs (864) — (864) Depreciation, depletion and impairment of tangible assets and mineral interests (11,441) (4,662) (16,103) Other income 772 3,039 3,811 Other expense (389) (645) (1,034) Financial interest on debt (1,367) (29) (1,396) Financial income and expense from cash & cash equivalents (138) — (138) Cost of net debt (1,505) (29) (1,534) Other financial income 957 — 957 Other financial expense (642) — (642) Net income (loss) from equity affiliates 2,574 (559) 2,015 Income taxes (3,858) 829 (3,029) Consolidated net income 10,762 (2,463) 8,299 Group share 10,578 (1,947) 8,631 Non-controlling interests 184 (516) (332) (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. |
Schedule of additional information on adjustment items | Adjustments to operating income Integrated Exploration Gas, For the year ended December 31, 2019 & Renewables Refining & Marketing & (M$) Production & Power Chemicals Services Corporate Total Inventory valuation effect — — 477 (31) — 446 Effect of changes in fair value — (19) — — — (19) Restructuring charges — (4) — — — (4) Asset impairment charges (721) (156) (41) (2) — (920) Other items (145) (281) (80) (9) (112) (627) Total (866) (460) 356 (42) (112) (1,124) Adjustments to net income, Group share Integrated Exploration Gas, For the year ended December 31, 2019 & Renewables Refining & Marketing & (M$) Production & Power Chemicals Services Corporate Total Inventory valuation effect — — 369 (23) — 346 Effect of changes in fair value — (15) — — — (15) Restructuring charges (5) (31) (22) — — (58) Asset impairment charges (530) 105 (39) (1) — (465) Gains (losses) on disposals of assets — — — — — — Other items (405) 422 (119) (82) (185) (369) Total (940) 481 189 (106) (185) (561) Adjustments to operating income Integrated Exploration Gas, For the year ended December 31, 2018 & Renewables Refining & Marketing & (M$) Production & Power Chemicals Services Corporate Total Inventory valuation effect — — (589) (6) — (595) Effect of changes in fair value — 48 — — — 48 Restructuring charges (67) — (3) — — (70) Asset impairment charges (707) (1,065) (2) — — (1,774) Other items (132) (229) (24) (39) (9) (433) Total (906) (1,246) (618) (45) (9) (2,824) Adjustments to net income, Group share Integrated Exploration Gas, For the year ended December 31, 2018 & Renewables Refining & Marketing & (M$) Production & Power Chemicals Services Corporate Total Inventory valuation effect — — (414) (6) — (420) Effect of changes in fair value — 38 — — — 38 Restructuring charges (94) (10) (34) — — (138) Asset impairment charges (651) (896) (48) — — (1,595) Gains (losses) on disposals of assets (14) (2) — — — (16) Other items 252 (112) (34) (47) (41) 18 Total (507) (982) (530) (53) (41) (2,113) Adjustments to operating income Integrated Exploration Gas, For the year ended December 31, 2017 & Renewables Refining & Marketing & (M$) Production & Power Chemicals Services Corporate Total Inventory valuation effect — — 344 13 — 357 Effect of changes in fair value — (20) — — — (20) Restructuring charges (42) — (4) (3) — (49) Asset impairment charges (3,799) (800) (53) (10) — (4,662) Other items (77) (389) (173) (21) (64) (724) Total (3,918) (1,209) 114 (21) (64) (5,098) Adjustments to net income, Group share Integrated Exploration Gas, For the year ended December 31, 2017 & Renewables Refining & Marketing & (M$) Production & Power Chemicals Services Corporate Total Inventory valuation effect — — 295 (13) — 282 Effect of changes in fair value — (16) — — — (16) Restructuring charges (11) (11) (42) (2) — (66) Asset impairment charges (3,202) (619) (53) (10) — (3,884) Gains (losses) on disposals of assets 188 — 2,139 125 — 2,452 Other items (218) (362) 73 (30) (178) (715) Total (3,243) (1,008) 2,412 70 (178) (1,947) |
Segment Information by geogra_2
Segment Information by geographical area (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Segment Information by geographical area | |
Schedule of segment information by geographical area | Rest of North Rest of (M$) France Europe America Africa the world Total For the year ended December 31, 2019 Non-Group sales 43,877 99,176 19,946 21,303 16,014 200,316 Property, plant and equipment, intangible assets, net 13,212 28,765 18,916 45,573 43,120 149,586 Capital expenditures 1,979 3,201 1,748 7,663 4,646 19,237 For the year ended December 31, 2018 Non-Group sales 47,716 99,465 22,243 22,263 17,676 209,363 Property, plant and equipment, intangible assets, net 12,561 25,262 18,903 43,359 42,161 142,246 Capital expenditures 4,502 2,609 2,014 4,838 8,222 22,185 For the year ended December 31, 2017 Non-Group sales 39,032 83,255 16,889 17,581 14,736 171,493 Property, plant and equipment, intangible assets, net 6,397 18,260 18,469 42,849 38,009 123,984 Capital expenditures 1,193 2,805 2,916 5,030 4,952 16,896 |
Main items related to operati_2
Main items related to operating activities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Main items related to operating activities | |
Schedule of operating expenses | For the year ended December 31, (M$) Purchases, net of inventory variation (a) (b) (116,221) (125,816) (99,411) Exploration costs (785) (797) (864) Other operating expenses (c) (27,255) (27,484) (24,966) of which non-current operating liabilities (allowances) reversals 1,152 1,068 280 of which current operating liabilities (allowances) reversals (157) (202) 66 Operating expenses (144,261) (154,097) (125,241) (a) Includes taxes paid on oil and gas production in the Exploration & Production segment, amongst others royalties. (b) The Group 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$) Depreciation and impairment of tangible assets (14,640) (13,364) (14,782) Amortization and impairment of mineral assets (1,091) (628) (1,321) Total (15,731) (13,992) (16,103) |
Schedule of inventories and change in the valuation allowance on inventories | As of December 31, 2019 Valuation (M$) Gross value allowance Net value Crude oil and natural gas 2,381 (14) 2,367 Refined products 5,326 (45) 5,281 Chemicals products 1,448 (91) 1,357 Trading inventories 5,500 — 5,500 Other inventories 3,651 (1,024) 2,627 Total 18,306 (1,174) 17,132 As of December 31, 2018 Valuation (M$) Gross value allowance Net value Crude oil and natural gas 2,382 (110) 2,272 Refined products 5,464 (242) 5,222 Chemicals products 1,087 (54) 1,033 Trading inventories 3,918 — 3,918 Other inventories 3,372 (937) 2,435 Total 16,223 (1,343) 14,880 As of December 31, 2017 Valuation (M$) Gross value allowance Net value Crude oil and natural gas 2,658 — 2,658 Refined products 5,828 (36) 5,792 Chemicals products 1,089 (58) 1,031 Trading inventories 4,320 — 4,320 Other inventories 3,632 (913) 2,719 Total 17,527 (1,007) 16,520 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$) January 1, Increase (net) other variations December 31, 2019 (1,343) (1,174) 2018 (1,007) (359) 23 (1,343) 2017 (971) 9 (45) (1,007) |
Schedule of accounts receivable and other current assets and changes in the valuation allowances | As of December 31, 2019 Valuation (M$) Gross value allowance Net value Accounts receivable 19,162 (674) 18,488 Recoverable taxes 4,209 (95) 4,114 Other operating receivables 11,746 (240) 11,506 Prepaid expenses 1,336 — 1,336 Other current assets 57 — 57 Other current assets 17,348 (335) 17,013 As of December 31, 2018 Valuation (M$) Gross value allowance Net value Accounts receivable 17,894 (624) 17,270 Recoverable taxes 4,090 — 4,090 Other operating receivables 10,306 (573) 9,733 Prepaid expenses 837 — 837 Other current assets 64 — 64 Other current assets 15,297 (573) 14,724 As of December 31, 2017 Valuation (M$) Gross value allowance Net value Accounts receivable 15,469 (576) 14,893 Recoverable taxes 4,029 — 4,029 Other operating receivables 9,797 (461) 9,336 Prepaid expenses 786 — 786 Other current assets 59 — 59 Other current assets 14,671 (461) 14,210 Changes in the valuation allowance on “Accounts receivable” and “Other current assets” are as follows: Currency Valuation translation Valuation For the year ended December 31, allowance as of adjustments and allowance as of (M$) January 1, Increase (net) other variations December 31, Accounts receivable 2019 (624) (89) 39 (674) 2018 (576) (62) 14 (624) 2017 (596) 53 (33) (576) Other current assets 2019 (573) (46) 284 (335) 2018 (461) (148) 36 (573) 2017 (400) (58) (3) (461) |
Schedule of other creditors and accrued liabilities | As of December 31, (M$) Accruals and deferred income 522 546 419 Payable to States (including taxes and duties) 7,438 6,861 5,786 Payroll 1,527 1,553 1,439 Other operating liabilities 16,262 13,286 10,135 Total 25,749 22,246 17,779 |
Schedule of additional information on cash paid or received in the cash flow from operating activities | For the year ended December 31, (M$) Interests paid (2,181) (1,818) (1,305) Interests received 210 164 82 Income tax paid (a) (5,293) (5,024) (4,013) Dividends received 1,988 2,456 2,219 (a) These amounts include taxes paid in kind under production-sharing contracts in exploration and production activities Detail of changes in working capital: For the year ended December 31, (M$) Inventories (2,071) 1,430 (476) Accounts receivable (933) (1,461) (1,897) Other current assets (2,001) (364) 1,274 Accounts payable 1,998 (822) 2,339 Other creditors and accrued liabilities 1,289 1,986 (413) Net amount, Decrease (Increase) (1,718) 769 827 Detail of changes in provisions and deferred taxes As of December 31, (M$) Accruals 403 (432) 3 Deferred taxes (461) (455) (387) Total (58) (887) (384) |
Other items from operating ac_2
Other items from operating activities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Other items from operating activities | |
Schedule of other income and other expense | For the year ended December 31, (M$) Gains on disposal of assets 670 1,041 2,784 Foreign exchange gains 238 252 785 Other 255 545 242 Other income 1,163 1,838 3,811 Losses on disposal of assets (56) (111) (186) Foreign exchange losses (463) (444) — Amortization of other intangible assets (excl. mineral interests) (266) (225) (192) Other (407) (493) (656) Other expense (1,192) (1,273) (1,034) |
Schedule of other financial income and expense | As of December 31, (M$) Dividend income on non-consolidated subsidiaries 178 171 167 Capitalized financial expenses 227 519 460 Other 387 430 330 Other financial income 792 1,120 957 Accretion of asset retirement obligations (639) (530) (544) Other (125) (155) (98) Other financial expense (764) (685) (642) |
Schedule of other non-current assets and changes in the valuation allowance on loans and advances | As of December 31, 2019 Valuation (M$) Gross value allowance Net value Loans and advances (a) 2,248 (266) 1,982 Other non-current financial assets related to operational activities 332 — 332 Other 101 — 101 Total 2,681 (266) 2,415 As of December 31, 2018 Valuation (M$) Gross value allowance Net value Loans and advances (a) 2,180 (303) 1,877 Other non-current financial assets related to operational activities 471 — 471 Other 161 — 161 Total 2,812 (303) 2,509 As of December 31, 2017 Valuation (M$) Gross value allowance Net value Loans and advances (a) 3,237 (359) 2,878 Other non-current financial assets related to operational activities 937 — 937 Other 169 — 169 Total 4,343 (359) 3,984 (a) Excluding loans to equity affiliates. Changes in the valuation allowance on loans and advances are detailed as follows: For the year ended December 31, Currency Valuation translation Valuation allowance as of adjustment and allowance as of (M$) January 1, Increases Decreases other variations December 31, 2019 (303) (7) 43 1 (266) 2018 (359) (5) 35 26 (303) 2017 (286) (50) 11 (34) (359) |
Intangible and tangible assets
Intangible and tangible assets (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Intangible and tangible assets | |
Schedule of intangible assets | As of December 31, 2019 Amortization and (M$) Cost impairment Net Goodwill 9,357 (1,011) 8,346 Proved mineral interests 15,966 (8,741) 7,225 Unproved mineral interests 20,138 (4,558) 15,580 Other intangible assets 5,743 (3,716) 2,027 Total intangible assets 51,204 (18,026) 33,178 As of December 31, 2018 Amortization and (M$) Cost impairment Net Goodwill 9,188 (1,014) 8,174 Proved mineral interests 14,775 (7,947) 6,828 Unproved mineral interests 16,712 (4,491) 12,221 Other intangible assets 5,824 (4,125) 1,699 Total intangible assets 46,499 (17,577) 28,922 As of December 31, 2017 Amortization and (M$) Cost impairment Net Goodwill 2,442 (1,015) 1,427 Proved mineral interests 13,081 (7,674) 5,407 Unproved mineral interests 11,686 (5,324) 6,362 Other intangible assets 4,831 (3,440) 1,391 Total intangible assets 32,040 (17,453) 14,587 |
Schedule of change in net intangible assets | Currency Net amount as of Amortization and translation Net amount as of (M$) January 1, Expenditures Disposals impairment adjustment Other December 31, 2019 28,922 1,087 (118) (1,359) (95) 4,741 33,178 2018 14,587 3,745 (28) (852) (351) 11,821 28,922 2017 15,362 404 (23) (1,512) 234 122 14,587 |
Summary of changes in carrying amount of goodwill by business segment | Net goodwill as of Net goodwill as of (M$) January 1, 2019 Increases Impairments Other December 31, 2019 Exploration & Production 2,642 — — — 2,642 Integrated Gas, Renewables & Power 4,707 155 — (88) 4,774 Refining & Chemicals 475 52 — (4) 523 Marketing & Services 321 62 — (4) 379 Corporate 29 — — (1) 28 Total 8,174 269 — (97) 8,346 |
Schedule of property, plant and equipment, including analysis of changes | As of December 31, 2019 Depreciation and (M$) Cost impairment Net Property, plant and equipment of exploration and production activities Proved properties 210,071 (130,134) 79,937 Unproved properties 2,160 (288) 1,872 Work in progress 12,056 (569) 11,487 Subtotal 224,287 (130,991) 93,296 Other property, plant and equipment Land 2,826 (792) 2,034 Machinery, plant and equipment (including transportation equipment) 36,747 (25,548) 11,199 Buildings 10,519 (6,032) 4,487 Work in progress 2,501 (2) 2,499 Other 10,137 (7,244) 2,893 Subtotal 62,730 (39,618) 23,112 Total property, plant and equipment 287,017 (170,609) 116,408 As of December 31, 2018 Depreciation and (M$) Cost impairment Net Property, plant and equipment of exploration and production activities Proved properties 192,272 (120,435) 71,837 Unproved properties 1,673 (152) 1,521 Work in progress 22,553 (1,128) 21,425 Subtotal 216,498 (121,715) 94,783 Other property, plant and equipment Land 1,775 (648) 1,127 Machinery, plant and equipment (including transportation equipment) 34,564 (25,393) 9,171 Buildings 8,864 (5,640) 3,224 Work in progress 2,540 (2) 2,538 Other 9,171 (6,690) 2,481 Subtotal 56,914 (38,373) 18,541 Total property, plant and equipment 273,412 (160,088) 113,324 As of December 31, 2017 Depreciation and (M$) Cost impairment Net Property, plant and equipment of exploration and production activities Proved properties 174,336 (112,113) 62,223 Unproved properties 1,980 (152) 1,828 Work in progress 30,286 (2,537) 27,749 Subtotal 206,602 (114,802) 91,800 Other property, plant and equipment Land 1,809 (652) 1,157 Machinery, plant and equipment (including transportation equipment) 33,554 (25,774) 7,780 Buildings 9,203 (5,859) 3,344 Work in progress 2,310 (1) 2,309 Other 9,463 (6,456) 3,007 Subtotal 56,339 (38,742) 17,597 Total property, plant and equipment 262,941 (153,544) 109,397 Change in net property, plant and equipment is analyzed in the following table: Currency Net amount as of Depreciation and translation Net amount as of (M$) January 1, Expenditures Disposals impairment adjustment Other December 31, 2019 113,324 11,426 (1,052) (15,097) (270) 8,077 116,408 2018 109,397 13,336 (2,494) (13,732) (1,454) 8,271 113,324 2017 111,971 13,363 (1,117) (15,099) 2,302 (2,023) 109,397 |
Schedule of facilities and equipment under leases | As of December 31, 2019 Depreciation and (M$) Cost impairment Net Property, plant and equipment of exploration and production activities 2,482 (517) 1,965 Other property, plant and equipment Land 1,031 (104) 927 Machinery, plant and equipment (including transportation equipment) 3,527 (999) 2,528 Buildings 1,545 (201) 1,344 Other 483 (134) 349 Subtotal 6,586 (1,438) 5,148 Total property, plant and equipment 9,068 (1,955) 7,113 Property, plant and equipment as at December 31, 2018 and as at December 31, 2017, presented above include the following amounts for facilities and equipment under finance leases: As of December 31, 2018 Depreciation and (M$) Cost impairment Net Machinery, plant and equipment 1,778 (605) 1,173 Buildings 121 (56) 65 Other 543 (83) 460 Total 2,442 (744) 1,698 As of December 31, 2017 Depreciation and (M$) Cost impairment Net Machinery, plant and equipment 1,140 (468) 672 Buildings 124 (57) 67 Other 378 (58) 320 Total 1,642 (583) 1,059 |
Equity affiliates, other inve_2
Equity affiliates, other investments and related parties (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Equity affiliates, other investments and related parties | |
Schedule of equity affiliates in facing financials | Equity value As of December 31, (M$) Total Associates 17,026 13,330 12,177 Total Joint ventures 6,097 5,359 4,791 Total 23,123 18,689 16,968 Loans 3,999 4,755 5,135 Total 27,122 23,444 22,103 Profit/(loss) As of December 31, (M$) Total Associates 2,534 2,329 1,694 Total Joint ventures 872 841 321 Total 3,406 3,170 2,015 Other comprehensive income As of December 31, (M$) Total Associates 592 (461) (801) Total Joint ventures (184) (79) 124 Total 408 (540) (677) |
Schedule of information related to associates | Novatek (a) Liquefaction entities PetroCedeño (M$) Non current assets 24,081 14,639 14,232 30,578 28,664 29,656 3,994 4,324 5,551 Current assets 6,898 4,545 3,404 9,994 9,358 7,875 7,457 5,580 4,291 Total Assets 30,979 19,184 17,636 40,572 38,022 37,531 11,451 9,904 9,842 Shareholder’s equity 24,884 14,163 12,842 23,640 22,615 22,804 4,548 4,581 5,178 Non current liabilities 3,727 3,086 3,187 11,445 9,826 10,291 76 20 13 Current liabilities 2,368 1,935 1,607 5,487 5,581 4,436 6,827 5,303 4,651 Total Liabilities 30,979 19,184 17,636 40,572 38,022 37,531 11,451 9,904 9,842 Revenue from sales 13,227 13,415 10,022 22,684 25,644 20,401 356 1,629 1,708 Net income 8,260 4,636 1,950 5,692 7,408 5,781 (33) 122 204 Other comprehensive income 1,807 (2,545) 580 — — — — — — % owned 19.40 % 19.40 % 18.90 % 30.32 % 30.32 % 30.32 % Revaluation identifiable assets on equity affiliates 1,641 1,556 1,804 1,714 44 6 — — — Equity value 6,469 4,303 4,231 5,493 3,758 3,768 1,379 1,389 1,570 Profit/(loss) 1,508 794 263 637 874 735 (10) 37 62 Share of Other Comprehensive Income, net amount 634 (540) (491) 23 49 (194) — — — Dividends paid to the Group 266 151 128 752 816 672 — 218 164 (a) Information includes the best Group’s estimates of results at the date of TOTAL's financial statements. Saudi Aramco Total Refining & Petrochemicals Qatar (M$) Non current assets 10,976 11,281 11,601 4,160 3,968 4,405 Current assets 1,793 2,069 2,021 1,571 1,741 1,696 Total Assets 12,769 13,350 13,622 5,731 5,709 6,101 Shareholder’s equity 2,113 2,412 2,424 2,676 2,748 3,200 Non current liabilities 8,098 8,398 9,029 2,150 1,914 1,895 Current liabilities 2,558 2,540 2,169 905 1,047 1,006 Total Liabilities 12,769 13,350 13,622 5,731 5,709 6,101 Revenue from sales 10,522 11,886 9,049 8,225 9,929 7,388 Net income (171) 122 222 42 409 490 Other comprehensive income (124) 16 20 111 (21) 80 % owned 37.50 % 37.50 % 37.50 % Revaluation identifiable assets on equity affiliates — — — — — — Equity value 792 905 909 706 740 814 Profit/(loss) (64) 46 83 91 198 190 Share of Other Comprehensive Income, net amount (33) 40 (82) 14 6 (12) Dividends paid to the Group — 56 45 159 271 201 |
Schedule of information related to joint ventures | Liquefaction entities Hanwha Total Petrochemicals (M$) Non current assets 70,279 68,003 59,422 4,310 4,017 3,989 Current assets excluding cash and cash equivalents 1,866 1,928 966 1,842 2,180 2,258 Cash and cash equivalents 1,678 339 1,258 322 237 283 Total Assets 73,823 70,270 61,646 6,474 6,434 6,530 Shareholder’s equity 7,151 7,059 4,037 3,319 3,534 3,612 Other non current liabilities 6,864 3,472 504 150 157 148 Non current financial debts 56,379 56,841 55,566 1,761 1,418 1,078 Other current liabilities 3,429 2,898 1,539 756 725 1,144 Current financial debts — — — 488 600 548 Total Liabilities 73,823 70,270 61,646 6,474 6,434 6,530 Revenue from sales 9,240 2,908 37 8,437 10,191 8,565 Depreciation and depletion of tangible assets and mineral interests (3,040) (1,227) (10) (256) (269) (264) Interest income 5 119 16 — 9 — Interest expense (2,993) (670) (15) (14) (5) (3) Income taxes (270) (386) 338 (124) (310) (369) Net income 383 2,029 (1,730) 302 754 973 Other comprehensive income (429) 132 97 (116) (169) 398 % owned 50.00 % 50.00 % 50.00 % Revaluation identifiable assets on equity affiliates 660 683 905 — — — Equity value 2,318 2,404 2,049 1,660 1,767 1,806 Profit/(loss) (19) 192 (348) 150 377 486 Share of Other Comprehensive Income, net amount (112) 40 29 (68) (67) 170 Dividends paid to the Group — — — 200 332 353 |
Schedule of main aggregated financial items in equity consolidated affiliates not presented individually | 2019 2018 2017 As of December 31, Joint Joint Joint (M$) Associates ventures Associates ventures Associates ventures Non Current assets 5,435 4,287 4,512 2,487 2,908 2,428 Current assets 1,357 1,276 1,263 752 1,156 1,150 Total Assets 6,792 5,563 5,775 3,239 4,064 3,578 Shareholder’s equity 1,405 1,437 1,438 1,108 885 1,102 Non current liabilities 4,412 3,091 3,254 1,585 2,171 1,281 Current liabilities 975 1,035 1,083 546 1,008 1,195 Total Liabilities 6,792 5,563 5,775 3,239 4,064 3,578 2019 2018 2017 For the year ended December 31, Joint Joint Joint (M$) Associates ventures Associates ventures Associates ventures Revenues from sales 2,190 3,535 2,542 11,914 2,226 4,358 Net income 383 288 380 281 361 183 Share of other comprehensive income items (46) (4) (16) (52) (22) (75) Equity value 2,187 2,119 2,235 1,188 885 936 Profit/(Loss) 372 741 380 272 361 183 Dividends paid to the Group 362 50 416 49 328 147 |
Schedule of other investments | As of December 31, 2019 As of As of (M$) January 1, Increase - Change in December 31, Decrease fair value Enphase Energy Inc 36 (5) 142 173 Tellurian Investments Inc. 207 — — 207 Other shares through fair value OCI (unit value < $50M) 119 7 — 126 Equity instruments recorded through fair value OCI 362 2 142 506 BBPP 62 — — 62 BTC Limited 50 — (22) 28 Tas Helat Marketing Company (a) — 108 — 108 Total Lubrificantes do Brasil (b) 111 (111) — — Other shares through fair value P&L (unit value < $50M) 836 238 — 1,074 Equity instruments recorded through fair value P&L 1,059 235 (22) 1,272 Total equity instruments 1,421 237 120 1,778 (a) Tas Helat Marketing Company is a joint venture with SAUDI ARAMCO to develop the retail business. It will be consolidated in 2020 (using the equity method). (b) Total Lubrificantes do Brasil was consolidated in 2019. As of December 31, 2018 As of As of (M$) January 1, Increase - Change in December 31, Decrease fair value Tellurian Investments Inc. 207 — — 207 Other shares through fair value OCI (unit value < $50M) 77 80 (2) 155 Equity instruments recorded through fair value OCI 284 80 (2) 362 BBPP 62 — — 62 BTC Limited 55 — (5) 50 DUNKERQUE LNG SAS 144 (217) 73 — Total Lubrificantes do Brasil (a) — 111 — 111 Other shares through fair value P&L (unit value < $50M) 1,182 (346) — 836 Equity instruments recorded through fair value P&L 1,443 (452) 68 1,059 Total equity instruments 1,727 (372) 66 1,421 (a) Total Lubrificantes do Brasil will be consolidated in 2019. As of December 31, 2017 Historical Unrealized gain Balance (M$) value (loss) sheet value Other equity securities publicly traded in active markets 8 42 50 Total equity securities publicly traded in active markets (a) 8 42 50 BBPP 62 — 62 BTC Limited 55 — 55 DUNKERQUE LNG SAS 144 — 144 Tellurian Investments Inc. 207 — 207 Total Eren Holding SA (b) 285 — 285 Greenflex (b) 76 — 76 Other equity securities (unit value < $50 million) 848 — 848 Total other equity securities (a) 1,677 — 1,677 Other investments 1,685 42 1,727 (a) Including cumulative impairments of $2,029 million in 2017. (b) Acquisitions made in the fourth quarter 2017 and consolidated in 2018 |
Schedule of main transactions and receivable and payable balances with related parties | As of December 31, (M$) Balance sheet Receivables Debtors and other debtors 486 496 492 Loans (excl. loans to equity affiliates) 42 57 63 Payables Creditors and other creditors 968 888 1,161 Debts 2 2 2 For the year ended December 31, (M$) Statement of income Sales 4,127 4,192 3,407 Purchases (10,158) (9,253) (7,354) Financial income 4 2 6 Financial expense (4) (5) (9) |
Schedule of affiliates direct and indirect compensation | For the year ended December 31, (M$) Number of people 15 15 15 Direct or indirect compensation 15.0 17.7 15.6 Pension expenses (a) (4.9) 2.5 10.8 Share-based payments expense (IFRS 2) (b) 8.7 12.6 6.5 (a) The benefits provided for executive officers of the Group and the members of the Board of Directors, who are employees of the Group, include severance to be paid upon retirement, supplementary pension schemes and insurance plans, which represent $113.3 million provisioned as of December 31, 2019 (against $117.0 million as of December 31, 2018 and $119.7 million as of December 31, 2017). The negative pension expense in 2019 is related to the application of the "ordonnance 2019-697" impacting the supplementary defined benefit pension plan which benefit the employees of TOTAL S.A. whose reference salary exceeded on 4 July 2019 an amount equal to 8 times the annual ceiling for calculating French Social Security contributions (PASS). This "ordonnance" involves a freeze of the years of service of beneficiaries as of 31/12/2019, which generates a reversal of provision established priorly. (b) Share-based payments expense computed for the executive officers and the members of the Board of Directors who are employees of the Group and based on the principles of IFRS 2 “Share-based payments” described in Note 9. The grant rate of the 2016 plan has been revised downwards, the level of achievement of the performance conditions having been lower than the estimates used in the previous year. |
Shareholders' equity and shar_2
Shareholders' equity and share-based payments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Shareholders' equity and share-based payments | |
Summary of share cancellation | Percentage Number of shares Buybacks carried out regarding the of the share Fiscal Board of Directors’ bought back and Cancellation of the Shareholder capital on year decision date cancelled dilution (a) return policy (b) cancelled (c) 2019 December 11, 2019 65,109,435 shares bought back between October 29, 2018 and September 9, 2019 34,860,133 shares issued as payment for the 1 st , 2 nd and 3 rd 2018 interim dividends 30,249,302 shares 2.44 % 2018 December 12, 2018 44,590,699 shares bought back between February 9 and October 11, 2018 28,445,840 shares issued as payment for the 2nd and 3rd interim dividends as well as for the final 2017 dividends 16,144,859 shares 1.66 % 2017 n/a(d) (a) Cancellation of the dilution for the shares issued, without discount, for the scrip dividend. (b) Within the framework of the $5 billion share buyback program over the 2018-2020 period. (c) Percentage of the share capital that the cancelled shares represented on the operations’ date. (d) TOTAL S.A. did not cancel any shares in the fiscal year 2017. |
Schedule of variation of the number of shares composing the shares capital | As of December 31, 2016 (a) 2,430,365,862 Shares issued in connection with: Capital increase reserved for employees 9,532,190 Capital increase as payment of the scrip dividend (second 2016 interim dividend, third 2016 interim dividend, 2016 final dividend and first 2017 interim dividend) 86,442,256 Exercise of TOTAL share subscription options 2,649,308 As of December 31, 2017 (b) 2,528,989,616 Shares issued in connection with: Capital increase reserved for employees 9,354,889 Capital increase as payment of the scrip dividend (second 2017 interim dividend, third 2017 interim dividend, 2017 final dividend and first 2018 interim dividend) 47,229,037 Exercise of TOTAL share subscription options 2,096,571 Issuance of shares in consideration for the acquisition of Maersk Olie og Gas A/S 97,522,593 Cancellation of treasury shares (44,590,699) As of December 31, 2018 (c) 2,640,602,007 Shares issued in connection with: Capital increase reserved for employees 10,047,337 Capital increase as payment of the scrip dividend (second 2018 interim dividend, third 2018 interim dividend) 16,076,936 Exercise of TOTAL share subscription options 264,230 Cancellation of treasury shares (65,109,435) As of December 31, 2019 (d) 2,601,881,075 (a) Including 10,587,822 treasury shares deducted from consolidated shareholders’ equity. (b) Including 8,376,756 treasury shares deducted from consolidated shareholders’ equity. (c) Including 32,473,281 treasury shares deducted from consolidated shareholders’ equity. (d) Including 15,474,234 treasury shares deducted from consolidated shareholders' equity. |
Schedule of ESOP completed by the company | Fiscal year Date of the ESOP June 6, 2019 May 3, 2018 April 26, 2017 By virtue of 18 th resolution of the EGM of June 1, 2018 23 rd resolution of the EGM of May 24, 2016 Subscriptions Number of shares subscribed 9,845,111 9,174,817 9,350,220 Subscription price 40.10 euros 37.20 euros 38.10 euros Free shares Number of shares granted 202 226 180 072 181 970 By virtue of 19 th resolution of the EGM of June 1, 2018 24 th resolution of the EGM of May 24, 2016 Deferred contribution Number of shares granted 5,932 6,784 10,393 Number of beneficiaries 1,187 1,360 2,086 End of the acquisition period June 6, 2024 May 3, 2023 April 26, 2022 |
Schedule of TOTAL shares held by TOTAL S.A. | As of December 31, Number of treasury shares 15,474,234 32,473,281 8,376,756 Percentage of share capital 0.59 % 1.23 % 0.33 % Of which shares acquired with the intention to cancel them 11,051,144 27,360,278 — Of which shares allocated to TOTAL share performance plans for Group employees 4,357,324 5,044,817 8,345,847 Of which shares intended to be allocated to new TOTAL share subscription or purchase options plans or to new share performance plans 65,766 68,186 30,909 |
Schedule of weighted-average shares and diluted shares used to calculate earnings per share and fully-diluted earnings per share | Number of shares as of January 1, 2,640,602,007 2,528,989,616 2,430,365,862 Number of shares issued during the year (pro rated) Exercise of TOTAL share subscription options 157,153 1,351,465 1,198,036 TOTAL performance shares 2,140,576 2,039,729 1,105,796 Capital increase reserved for employees 5,860,947 6,236,593 6,354,793 Issuance of shares in consideration for the acquisition of Maersk Olie og Gas A/S — 81,268,828 — Capital increase as payment of the scrip dividend 12,360,894 26,352,572 53,365,971 Buyback of treasury shares including: (27,026,481) (30,405,112) — Shares repurchased in during the fiscal year to cancel the dilution caused by the scrip dividend payment and within the framework of the share buyback program (24,818,443) (30,102,242) — Shares repurchased in during the fiscal year to cover for the stock options plans (2,208,038) (302,870) — TOTAL shares held by TOTAL S.A. or by its subsidiaries and deducted from shareholders’ equity (32,473,281) (8,376,756) (10,587,822) Weighted-average number of shares 2,601,621,815 2,607,456,934 2,481,802,636 Dilutive effect Grant of TOTAL share subscription or purchase options 33,636 296,830 727,864 Grant of TOTAL performance shares 14,593,030 13,794,896 10,238,411 Capital increase reserved for employees 1,759,407 2,167,784 1,987,502 Weighted-average number of diluted shares 2,618,007,888 2,623,716,444 2,494,756,413 |
Summary of dividends | 2019 dividend First interim Second interim Third interim Final Amount € 0.66 € 0.66 € 0.68 € 0.68 Set date April 25th, 2019 July 24th, 2019 October 29th, 2019 May 29th, 2020 Ex-dividend date September 27th, 2019 January 6th, 2020 March 30th, 2020 June 29th, 2020 Payment date October 1st, 2019 January 8th, 2020 April 1st, 2020 July 1st, 2020 |
Detail of other comprehensive income | For the year ended December 31, (M$) 2019 2018 2017 Actuarial gains and losses (192) (12) 823 Change in fair value of investments in equity instruments 142 — — Tax effect 53 13 (390) Currency translation adjustment generated by the parent company (1,533) (4,022) 9,316 Sub-total items not potentially reclassifiable to profit & loss (1,530) (4,021) 9,749 Currency translation adjustment 740 1,113 (2,578) – Unrealized gain/(loss) of the period 800 1,238 (2,408) – Less gain/(loss) included in net income 60 125 170 Available for sale financial assets — — 7 – Unrealized gain/(loss) of the period — — 7 – Less gain/(loss) included in net income — — — Cash flow hedge (599) 25 324 – Unrealized gain/(loss) of the period (552) (94) 584 – Less gain/(loss) included in net income 47 (119) 260 Variation of foreign currency basis spread 1 (80) — – Unrealized gain/(loss) of the period (57) (80) — – Less gain/(loss) included in net income (58) — — Share of other comprehensive income of equity affiliates, net amount 408 (540) (677) – Unrealized gain/(loss) of the period 421 (495) (655) – Less gain/(loss) included in net income 13 45 22 Other (3) (5) — Tax effect 202 14 (100) Sub-total items potentially reclassifiable to profit & loss 749 527 (3,024) Total other comprehensive income, net amount (781) (3,494) 6,725 The currency translation adjustment by currency is detailed in the following table: As of December 31, 2019 Pound Other (M$) Total Euro sterling Ruble currencies Currency translation adjustment generated by the parent company (1,533) (1,533) — — — Currency translation adjustment 740 636 138 7 (41) Currency translation adjustment of equity affiliates 607 149 (7) 530 (65) Total currency translation adjustment recognized in comprehensive income (186) (748) 131 537 (106) As of December 31, 2018 Pound Other (M$) Total Euro sterling Ruble currencies Currency translation adjustment generated by the parent company (4,022) (4,022) — — — Currency translation adjustment 1,113 1,883 (431) (10) (329) Currency translation adjustment of equity affiliates (564) 343 14 (805) (116) Total currency translation adjustment recognized in comprehensive income (3,473) (1,796) (417) (815) (445) As of December 31, 2017 Pound Other (M$) Total Euro sterling Ruble currencies Currency translation adjustment generated by the parent company 9,316 9,316 — — — Currency translation adjustment (2,578) (3,275) 462 3 232 Currency translation adjustment of equity affiliates (730) (1,099) (25) 207 187 Total currency translation adjustment recognized in comprehensive income 6,008 4,943 436 210 419 Tax effects relating to each component of other comprehensive income are as follows: 2019 2018 2017 For the year ended December 31, Pre-tax Tax Net Pre-tax Tax Net Pre-tax Tax Net (M$) amount effect amount amount effect amount amount effect amount Actuarial gains and losses (192) 55 (137) (12) 13 1 823 (390) 433 Change in fair value of investments in equity instruments 142 (2) 140 — — — — — — Currency translation adjustment generated by the parent company (1,533) — (1,533) (4,022) — (4,022) 9,316 — 9,316 Sub-total items not potentially reclassifiable to profit & loss (1,583) 53 (1,530) (4,034) 13 (4,021) 10,139 (390) 9,749 Currency translation adjustment 740 — 740 1,113 — 1,113 (2,578) — (2,578) Available for sale financial assets — — — — — — 7 (3) 4 Cash flow hedge (599) 202 (397) 25 (6) 19 324 (97) 227 Variation of foreign currency basis spread 1 — 1 (80) 20 (60) — — — Share of other comprehensive income of equity affiliates, net amount 408 — 408 (540) — (540) (677) — (677) Other (3) — (3) (5) — (5) — — — Sub-total items potentially reclassifiable to profit & loss 547 202 749 513 14 527 (2,924) (100) (3,024) Total other comprehensive income (1,036) 255 (781) (3,521) 27 (3,494) 7,215 (490) 6,725 |
Schedule of share-based payment expense | As of December 31, (M$) Total restricted shares plans 180 264 135 SunPower plans 26 21 31 Capital increase reserved for employees 27 30 16 Total 233 315 182 |
TOTAL share subscription or purchase option plans | |
Shareholders' equity and share-based payments | |
Summary of share subscription or purchase option plans | Weighted average 2009 Plan 2010 Plan 2011 Plan Total exercise price Date of the shareholders’ meeting 5/11/2007 5/21/2010 5/21/2010 Award date (a) 9/15/2009 9/14/2010 9/14/2011 Strike price 39.90 € 38.20 € 33.00 € Expiry date 9/15/2017 9/14/2018 9/14/2019 Number of options Existing options as of January 1, 2017 1,779,053 2,880,237 626,328 5,285,618 38.16 € Granted — — — — — Cancelled (b) (195,370) — — (195,370) 39.90 € Exercised (1,583,683) (929,865) (135,760) (2,649,308) 38.95 € Existing options as of January 1, 2018 — 1,950,372 490,568 2,440,940 37.15 € Granted — — — — — Cancelled (b) — (79,139) — (79,139) 38.20 € Exercised — (1,871,233) (225,338) (2,096,571) 37.64 € Existing options as of January 1, 2019 — — 265,230 265,230 33.00 € Granted — — — — — Cancelled (b) — — (1,000) (1,000) 33.00 € Exercised — — (264,230) (264,230) 33.00 € Existing options as of December 31, 2019 — — — — n/a (a) The grant date is the date of the Board meeting awarding the share subscription or purchase options. (b) Out of the options canceled in 2017 2018 and 2019, (i) 195,370 options were early canceled or expired on September 15, 2017 due to expiry of 2009 plan, (ii) 79,139 options that were not exercised expired on September 14, 2018 due to expiry of 2010 plan and (iii) 1,000 options that were not exercised expired on September 14, 2019 due to expiry of 2011 plan. |
TOTAL performance share plans | |
Shareholders' equity and share-based payments | |
Summary of performance share plans and restricted stock activities | 2014 Plan 2015 Plan 2016 Plan 2017 Plan 2018 Plan 2019 Plan Total Date of the shareholders’ meeting 5/16/2014 5/16/2014 5/24/2016 5/24/2016 5/24/2016 6/1/2018 Award date 7/29/2014 7/28/2015 7/27/2016 7/26/2017 3/14/2018 3/13/2019 Date of the final award (end of the vesting period) 7/30/2017 7/29/2018 7/28/2019 7/27/2020 3/15/2021 3/14/2022 Transfer authorized as from 7/30/2019 7/29/2020 7/29/2021 7/28/2022 3/16/2023 3/15/2024 Grant date IFRS 2 fair value 44.66 € 35.90 € 35.37 € 35.57 € 36.22 € 40.11 € Number of performance shares Outstanding as of January 1, 2017 4,364,500 4,730,735 5,637,560 — — — 14,732,795 Notified — — — 5,679,949 — — 5,679,949 Cancelled (2,157,820) (31,480) (29,050) (910) — — (2,219,260) Finally granted (2,206,680) (1,950) (1,410) — — — (2,210,040) Outstanding as of January 1, 2018 — 4,697,305 5,607,100 5,679,039 — — 15,983,444 Notified — — — — 6,083,145 — 6,083,145 Cancelled — (621,568) (61,840) (26,640) (12,350) — (722,398) Finally granted — (4,075,737) (2,040) (1,480) — — (4,079,257) Outstanding as of January 1, 2019 — — 5,543,220 5,650,919 6,070,795 — 17,264,934 Notified — — — — — 6,447,069 6,447,069 Cancelled — — (1,267,392) (41,220) (41,260) (39,246) (1,389,118) Finally granted — — (4,275,828) (1,840) (1,100) (180) (4,278,948) Outstanding as of December 31, 2019 — — — 5,607,859 6,028,435 6,407,643 18,043,937 |
Summary of grant rate by ranking | Ranking Grant rate 1 st place 180% 2 nd place 130% 3 rd place 80% 4 th and 5 th places 0% |
SunPower plans | |
Shareholders' equity and share-based payments | |
Summary of performance share plans and restricted stock activities | Restricted Stock Awards and Units Weighted-Average Grant Date Fair Value Per Share Shares (in thousands) (in dollars) (a) Outstanding as of January 1st, 2017 6,147 21.85 Granted 4,863 6.76 Vested (b) (1,738) 25.87 Forfeited (1,979) 18.15 Outstanding as of January 1st, 2018 7,293 11.83 Granted 4,449 7.77 Vested (b) (2,266) 14.45 Forfeited (1,816) 10.10 Outstanding as of January 1st, 2019 7,660 9.11 Granted 5,430 6.82 Vested (b) (2,460) 9.65 Forfeited (1,304) 8.28 Outstanding as of December 31, 2019 9,326 7.75 (a) SunPower estimates the fair value of the restricted stock unit awards as the stock price on the grant date. (b) Restricted stock awards and units vested include shares withheld on behalf of employees to satisfy the minimum statutory tax withholding requirements. |
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, Date of the Board of Directors meeting that decided the issue September 19, 2018 Subscription price (€) (a) Share price at the reference date (€) (b) Number of shares (in millions) Risk free interest rate (%) (c) Employees loan financing rate (%) (d) Non transferability cost (% of the reference’s share price) Expenses ($ million) (a) Average of the closing TOTAL share prices during the twenty trading days prior to the subscription period, after deduction of a 20% discount. (b) Closing share price on April 25, 2019, date on which the Chief Executive Officer set the subscription period. (c) Zero coupon Euro swap rate at 5 years. Average of 5 year consumer’s credit rates. |
Payroll, staff and employee b_2
Payroll, staff and employee benefits obligations (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Payroll, staff and employee benefits obligations | |
Schedule of liabilities for employee benefits obligations | As of December 31, (M$) Pension benefits liabilities 2,651 2,545 2,877 Other benefits liabilities 742 669 705 Restructuring reserves (early retirement plans) 108 149 153 Total 3,501 3,363 3,735 Net liabilities relating to assets held for sale — — — |
Schedule of fair value of the defined benefit obligation and plan assets | As of December 31, Pension benefits Other benefits (M$) Change in benefit obligation Benefit obligation at beginning of year 11,501 12,872 12,164 669 705 648 Current service cost 214 236 263 13 14 16 Interest cost 295 296 320 17 17 17 Past service cost 4 (1) 239 — (2) 12 Settlements (20) (141) (1) (9) — — Plan participants' contributions 7 8 7 — — — Benefits paid (667) (902) (717) (26) (28) (27) Actuarial losses / (gains) 847 (372) (450) 87 (29) (36) Foreign currency translation and other 104 (495) 1,047 (9) (8) 75 Benefit obligation at year-end 12,285 11,501 12,872 742 669 705 Of which plans entirely or partially funded 11,584 10,864 12,140 — — — Of which plans not funded 701 637 732 742 669 705 Change in fair value of plan assets Fair value of plan assets at beginning of year (9,145) (10,205) (9,123) — — — Interest income (255) (261) (256) — — — Actuarial losses / (gains) (745) 424 (344) — — — Settlements 11 129 — — — — Plan participants’ contributions (7) (8) (7) — — — Employer contributions (172) (417) (171) — — — Benefits paid 573 778 591 — — — Foreign currency translation and other (29) 415 (895) — — — Fair value of plan assets at year-end (9,769) (9,145) (10,205) — — — — Unfunded status 2,516 2,356 2,667 742 669 705 Asset ceiling 34 28 40 — — — Net recognized amount 2,550 2,384 2,707 742 669 705 Pension benefits and other benefits liabilities 2,651 2,545 2,877 742 669 705 Other non-current assets (101) (161) (170) — — — Net benefit liabilities relating to assets held for sale — — — — — — |
Schedule of benefit amounts recognized, estimated future payments and actuarial assumptions | For the year ended December 31, Pension benefits Other benefits (M$) Current service cost 214 236 263 13 14 16 Past service cost 4 (1) 239 — (2) 12 Settlements (10) (12) (1) (9) — — Net interest cost 39 35 64 17 17 17 Benefit amounts recognized on Profit & Loss 247 258 565 21 29 45 - Actuarial (Gains) / Losses * Effect of changes in demographic assumptions (166) (1) (16) (2) (21) 3 * Effect of changes in financial assumptions 1,071 (354) (241) 89 (3) (5) * Effect of experience adjustments (59) (17) (193) — (5) (34) * Actual return on plan assets (745) 424 (344) — — — - Effect of asset ceiling 3 (11) 7 — — — Benefit amounts recognized on Equity 104 41 (787) 87 (29) (36) Total benefit amounts recognized on comprehensive income 351 299 (222) 108 — 9 Estimated future payments (M$) Pension benefits Other benefits 2020 741 27 2021 497 27 2022 467 27 2023 414 26 2024 399 26 2025-2029 2,142 120 Assumptions used to determine benefits obligations Pension benefits Other benefits As of December 31, Discount rate (weighted average for all regions) 1.84 % 2.68 % 2.48 % 1.71 % 2.56 % 2.52 % Of which Euro zone 0.73 % 1.72 % 1.71 % 0.94 % 1.87 % 1.93 % Of which United States 3.25 % 4.00 % 3.75 % 3.25 % 4.00 % 3.75 % Of which United Kingdom 2.25 % 3.00 % 2.50 % — — — Inflation rate (weighted average for all regions) 2.20 % 2.44 % 2.40 % — — — Of which Euro zone 1.21 % 1.50 % 1.50 % — — — Of which United States 2.50 % 2.50 % 2.50 % — — — Of which United Kingdom 3.25 % 3.50 % 3.50 % — — — |
Schedule of asset allocation | Asset allocation Pension benefits As of December 31, Equity securities 25 % 24 % 26 % Debt securities 46 % 47 % 43 % Monetary 1 % 1 % 3 % Annuity contracts 20 % 20 % 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$) 0.5% Increase 0.5% Decrease Benefit obligation as of December 31, 2019 (821) 915 A 0.5% increase or decrease in inflation rates – all other things being equal - would have the following approximate impact on the benefit obligation: (M$) 0.5% Increase 0.5% Decrease Benefit obligation as of December 31, 2019 576 (516) |
Schedule of personnel expenses and Group employees | For the year ended December 31, Personnel expenses (M$) Wages and salaries (including social charges) 8,922 9,099 7,985 Group employees at December 31, France ● Management 13,745 13,377 11,880 ● Other 22,531 22,629 19,372 International ● Management 16,924 16,963 16,489 ● Other 54,576 51,491 50,536 Total 107,776 104,460 98,277 |
Income taxes (Tables)
Income taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Income taxes | |
Schedule of detailed income taxes | For the year ended December 31, (M$) Current income taxes (5,469) (6,971) (3,416) Deferred income taxes (403) 455 387 Total income taxes (5,872) (6,516) (3,029) |
Schedule of deferred tax balances, including balance sheet presentation and analysis of variation | As of December 31, (M$) Net operating losses and tax carry forwards 3,752 3,779 3,014 Employee benefits 970 995 1,153 Other temporary non-deductible provisions 8,660 8,409 6,344 Differences in depreciations (16,029) (15,469) (13,387) Other temporary tax deductions (2,995) (2,541) (2,746) Net deferred tax liability (5,642) (4,827) (5,622) As of December 31, (M$) Deferred tax assets 6,216 6,663 5,206 Deferred tax liabilities (11,858) (11,490) (10,828) Net amount (5,642) (4,827) (5,622) As of December 31, (M$) Opening balance (4,827) (5,622) (6,692) Deferred tax on income (403) 455 387 Deferred tax on shareholders' equity (a) 255 27 (490) Changes in scope of consolidation and others (695) 151 1,154 Currency translation adjustment 28 162 19 Closing balance (5,642) (4,827) (5,622) (a) This amount includes mainly deferred taxes on actuarial gains and losses, current income taxes and deferred taxes for changes in fair value of listed securities classified as financial assets available for sale, as well as deferred taxes related to the cash flow hedge (see Note 9 to the Consolidated Financial Statements). |
Reconciliation between provision for income taxes and pre-tax income | For the year ended December 31, (M$) Consolidated net income 11,438 11,550 8,299 Provision for income taxes 5,872 6,516 3,029 Pre-tax income 17,310 18,066 11,328 French statutory tax rate 34.43 % 34.43 % 44.43 % Theoretical tax charge (5,960) (6,220) (5,033) Difference between French and foreign income tax rates (2,007) (3,058) (633) Tax effect of equity in income (loss) of affiliates 1,173 1,080 888 Permanent differences 1,422 1,740 1,491 Adjustments on prior years income taxes 12 (40) (91) Adjustments on deferred tax related to changes in tax rates (270) 2 (309) Changes in valuation allowance of deferred tax assets (242) (20) 658 Net provision for income taxes (5,872) (6,516) (3,029) |
Schedule of net operating losses and carried forward tax credits by expiration and main countries | As of December 31, (M$) 2019 2018 2017 2018 75 2019 90 64 2020 71 70 60 2021 48 38 24 2022 (a) 27 32 1,330 2023 (b) 19 1,423 2024 and after 1,310 Unlimited 2,277 2,126 1,461 Total 3,752 3,779 3,014 (a) 2022 and after for 2017. (b) 2023 and after for 2018. As of December 31, 2019 the schedule of deferred tax assets related to carried forward tax credits on net operating losses for the main countries is as follows: Tax As of December 31, 2019 United United (M$) Australia States Canada France Kingdom 2020 2021 2022 2023 2024 and after 595 675 Unlimited 1,057 120 520 313 Total 1,057 715 675 520 313 |
Provisions and other non-curr_2
Provisions and other non-current liabilities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Provisions and other non-current liabilities | |
Schedule of provisions and other non-current liabilities, including analysis of changes | As of December 31, (M$) Litigations and accrued penalty claims 386 736 706 Provisions for environmental contingencies 742 862 964 Asset retirement obligations 14,492 14,286 12,240 Other non-current provisions 2,927 3,144 1,370 of which restructuring activities 135 134 160 of which financial risks related to non-consolidated and equity consolidated affiliates 130 100 59 of which contingency reserve on solar panels warranties (SunPower) 140 173 177 Other non-current liabilities 2,066 2,404 706 Total 20,613 21,432 15,986 Currency As of translation As of (M$) January, 1st Allowances Reversals adjustment Other December, 31 2019 21,432 1,248 (2,414) (33) 380 20,613 of which asset retirement obligations 639 (460) of which provisions for environmental contingencies 30 (92) of which provisions for restructuring of activities 60 (122) 2018 15,986 2,416 (1,378) (519) 4,927 21,432 of which asset retirement obligations 530 (320) of which provisions for environmental contingencies 33 (111) of which provisions for restructuring of activities 149 (106) 2017 16,846 1,172 (1,612) 681 (1,101) 15,986 of which asset retirement obligations 544 (330) of which provisions for environmental contingencies 37 (120) of which provisions for restructuring of activities 48 (84) |
Schedule of changes in the asset retirement obligation | Spending on Currency As of Revision in New existing translation As of (M$) January 1, Accretion estimates obligations obligations adjustment Other December 31, 2019 14,286 639 (601) 567 (460) 47 14 14,492 2018 12,240 530 (458) 811 (320) (364) 1,847 14,286 2017 12,665 544 (1,107) 334 (330) 448 (314) 12,240 |
Off balance sheet commitments_2
Off balance sheet commitments and lease contracts (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Off balance sheet commitments and lease contracts | |
Schedule of off balance sheet commitments and lease contracts | Maturity and installments As of December 31, 2019 Less than 1 Between 1 More than 5 (M$) Total year and 5 years years Non-current debt obligations net of hedging instruments (Note 15) 40,931 — 19,888 21,043 Current portion of non-current debt obligations net of hedging instruments (Note 15) 5,331 5,331 — — Lease obligations (Note 13.2) 7,465 1,202 2,883 3,380 Asset retirement obligations (Note 12) 14,492 617 3,153 10,722 Contractual obligations recorded in the balance sheet 68,219 7,150 25,924 35,145 Lease obligations for low value assets, short term contracts or not yet commenced (Note 13.2) 2,077 536 879 662 Purchase obligations 147,516 10,763 38,189 98,564 Contractual obligations not recorded in the balance sheet 149,593 11,299 39,068 99,226 Total of contractual obligations 217,812 18,449 64,992 134,371 Guarantees given for excise taxes 2,012 1,876 17 119 Guarantees given against borrowings 14,510 306 7,372 6,832 Indemnities related to sales of businesses 331 163 16 152 Guarantees of current liabilities 172 79 60 33 Guarantees to customers / suppliers 12,318 1,435 2,169 8,714 Letters of credit 2,786 2,768 18 — Other operating commitments 22,055 3,240 1,202 17,613 Total of other commitments given 54,184 9,867 10,854 33,463 Mortgages and liens received 85 23 37 25 Sales obligations 93,441 7,135 31,330 54,976 Other commitments received 22,358 16,845 1,705 3,808 Total of commitments received 115,884 24,003 33,072 58,809 Of which commitments given relating to joint ventures 39,055 461 11,822 26,772 Of which commitments given relating to associates 31,465 913 8,381 22,171 Maturity and installments As of December 31, 2018 Less than 1 Between 1 More than 5 (M$) Total year and 5 years years Non-current debt obligations net of hedging instruments (Note 15) 37,784 — 19,072 18,712 Current portion of non-current debt obligations net of hedging instruments (Note 15) 5,027 5,027 — — Finance lease obligations (Note 13.2) 1,878 213 468 1,197 Asset retirement obligations (Note 12) 14,286 844 3,388 10,054 Contractual obligations recorded in the balance sheet 58,975 6,084 22,928 29,963 Operating lease obligations (Note 13.2) 9,130 1,644 3,690 3,796 Purchase obligations 121,119 9,708 30,652 80,759 Contractual obligations not recorded in the balance sheet 130,249 11,352 34,343 84,554 Total of contractual obligations 189,224 17,436 57,271 114,517 Guarantees given for excise taxes 2,043 1,904 12 127 Guarantees given against borrowings 18,680 169 68 18,443 Indemnities related to sales of businesses 334 165 10 159 Guarantees of current liabilities 222 83 74 65 Guarantees to customers / suppliers 8,463 1,222 847 6,394 Letters of credit 3,515 3,164 160 191 Other operating commitments 29,416 2,085 1,046 26,285 Total of other commitments given 62,673 8,792 2,217 51,664 Mortgages and liens received 84 23 33 28 Sales obligations 91,695 7,989 27,709 55,997 Other commitments received 21,565 15,527 1,328 4,710 Total of commitments received 113,344 23,539 29,070 60,735 Of which commitments given relating to joint ventures 42,768 162 4,425 38,181 Of which commitments given relating to associates 39,437 773 8,378 30,286 Maturity and installments As of December 31, 2017 Less than 1 Between 1 More than 5 (M$) Total year and 5 years years Non-current debt obligations net of hedging instruments (Note 15) 39,544 — 19,540 20,004 Current portion of non-current debt obligations net of hedging instruments (Note 15) 4,646 4,646 — — Finance lease obligations (Note 13.2) 1,156 39 261 856 Asset retirement obligations (Note 12) 12,240 485 2,165 9,590 Contractual obligations recorded in the balance sheet 57,586 5,170 21,966 30,450 Operating lease obligations (Note 13.2) 6,441 1,401 2,887 2,153 Purchase obligations 86,366 8,605 23,917 53,844 Contractual obligations not recorded in the balance sheet 92,807 10,006 26,803 55,998 Total of contractual obligations 150,393 15,176 48,769 86,448 Guarantees given for excise taxes 2,073 1,938 29 106 Guarantees given against borrowings 16,080 411 10,607 5,062 Indemnities related to sales of businesses 341 120 61 160 Guarantees of current liabilities 321 91 109 121 Guarantees to customers / suppliers 4,180 1,100 268 2,812 Letters of credit 2,965 2,680 102 183 Other operating commitments 17,431 1,165 637 15,629 Total of other commitments given 43,391 7,505 11,813 24,073 Mortgages and liens received 89 23 26 40 Sales obligations 67,014 6,263 21,513 39,238 Other commitments received 7,398 3,549 1,111 2,738 Total of commitments received 74,501 9,835 22,650 42,016 Of which commitments given relating to joint ventures 36,847 160 12,225 24,462 Of which commitments given relating to associates 20,629 580 5,991 14,058 |
Summary of reconciliation between the operating lease commitments disclosed under IAS 17 and the additional lease liabilities recognized under IFRS 16 | January 1, M$ 2019 Operating lease commitments at December 31, 2018 9,130 Commitments relating to IFRS 16 exemptions: (417) - Low value assets (90) - Short-term leases (327) Leases not yet commenced at January 1, 2019 (608) Commitments relating to service component of lease contracts (760) Commitments relating to leases of non identified assets (628) Variable lease payments (6) Other impacts 204 Impact of discounting (1,360) Additional lease liability 5,555 Finance lease liability at December 31, 2018 1,878 Total lease liability at January 1, 2019 7,433 Other information required on lease debts, notably their maturity, is presented in Note 15 to the consolidated financial statements. |
Schedule of future minimum lease payments on leases | For the year ended December 31, 2019 Leases not recorded in Leases recorded in (M$) balance sheet balance sheet 2020 536 1,586 2021 360 1,228 2022 212 1,019 2023 162 835 2024 145 766 2025 and beyond 662 4,757 Total minimum payments 2,077 10,191 Less financial expenses (2,726) Nominal value of contracts 7,465 Less current portion of lease contracts (1,202) Non-current lease liabilities 6,263 For the year ended December 31, 2018 (M$) Operating leases Finance leases 2019 1,644 263 2020 1,282 183 2021 967 182 2022 772 179 2023 669 179 2024 and beyond 3,796 1,826 Total minimum payments 9,130 2,812 Less financial expenses (934) Nominal value of contracts 1,878 Less current portion of finance lease contracts (213) Non-current finance lease liabilities 1,665 For the year ended December 31, 2017 (M$) Operating leases Finance leases 2018 1,401 76 2019 988 67 2020 814 67 2021 623 65 2022 462 65 2023 and beyond 2,153 864 Total minimum payments 6,441 1,204 Less financial expenses (48) Nominal value of contracts 1,156 Less current portion of finance lease contracts (39) Non-current finance lease liabilities 1,117 |
Financial assets and liabilit_2
Financial assets and liabilities analysis per instrument class and strategy (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Financial assets and liabilities analysis per instrument class and strategy | |
Summary of financial assets and liabilities disclosed in the balance sheet | 14) Financial assets and liabilities analysis per instrument class and strategy The financial assets and liabilities disclosed in the balance sheet are detailed as follows: As of December 31, 2019 Other (M$) Fair value through Comprehensive Fair value of Assets/(Liabilities) Amortized cost P&L Income hedging instruments Total Fair value Equity affiliates: loans 3,999 — — — 3,999 3,999 Other investments — 1,272 506 — 1,778 1,778 Non-current financial assets 164 236 — 512 912 912 Other non-current assets 2,314 — — — 2,314 2,314 Accounts receivable, net (b) 18,488 — — — 18,488 18,488 Other operating receivables 6,713 4,791 — 2 11,506 11,506 Current financial assets 3,870 122 — — 3,992 3,992 Cash and cash equivalents 27,352 — — — 27,352 27,352 Total financial assets 62,900 6,421 506 514 70,341 70,341 Total non-financial assets 202,953 — Total assets 273,294 — Non-current financial debt (a) (46,035) (44) — (1,694) (47,773) (50,921) Accounts payable (b) (28,394) — — — (28,394) (28,394) Other operating liabilities (10,927) (5,333) — (2) (16,262) (16,262) Current borrowings (a) (14,819) — — — (14,819) (14,819) Other current financial liabilities — (63) — (424) (487) (487) Total financial liabilities (100,175) (5,440) — (2,120) (107,735) (110,883) Total non-financial liabilities (165,559) — Total liabilities (273,294) — (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 $(2,073) million and $2,073 million on accounts payable. As of December 31, 2018 Fair value through (M$) Fair value through OCI - equity Fair value of Assets / (Liabilities) Amortized cost P&L instruments instruments hedge Total Fair value Equity affiliates: loans 4,755 — — — 4,755 4,755 Other investments — 1,059 362 — 1,421 1,421 Non-current financial assets — 67 — 613 680 680 Other non-current assets 2,348 — — — 2,348 2,348 Accounts receivable, net (b) 17,270 — — — 17,270 17,270 Other operating receivables 6,994 2,731 — 8 9,733 9,733 Current financial assets 3,536 73 — 45 3,654 3,654 Cash and cash equivalents 27,907 — — — 27,907 27,907 Total financial assets 62,810 3,930 362 666 67,768 67,768 Total non-financial assets 188,994 Total assets 256,762 Non-current financial debt (a) (38,220) (29) — (1,880) (40,129) (41,281) Accounts payable (b) (26,134) — — — (26,134) (26,134) Other operating liabilities (9,854) (3,429) — (3) (13,286) (13,286) Current borrowings (a) (13,306) — — — (13,306) (13,306) Other current financial liabilities — (183) — (295) (478) (478) Total financial liabilities (87,514) (3,641) — (2,178) (93,333) (94,485) Total non-financial liabilities (163,429) Total liabilities (256,762) (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 $(2,903) million and $2,903 million on accounts payable. Financial instruments related to financing and operational activities Fair value Other Net financial As of December 31, 2017 Hedging of investment instruments (M$) Amortized Available Held for Financial Financial Cash flow hedge and Amortized Assets / (Liabilities) cost for sale (a) trading debt (b) Debt hedge other cost Total Fair value Equity affiliates: loans 5,135 — — — — — — — 5,135 5,135 Other investments — 1,727 — — — — — — 1,727 1,727 Non-current financial assets — — 73 — 337 269 — — 679 679 Other non-current assets 3,765 50 — — — — — — 3,815 3,815 Accounts receivable, net (c) — — — — — — — 14,893 14,893 14,893 Other operating receivables — — 1,977 — — 12 — 7,347 9,336 9,336 Current financial assets 2,970 — 251 — 172 — — — 3,393 3,393 Cash and cash equivalents — — — — — — — 33,185 33,185 33,185 Total financial assets 11,870 1,777 2,301 — 509 281 — 55,425 72,163 72,163 Total non-financial assets — — — — — — — — 170,468 — Total assets — — — — — — — — 242,631 — Non-current financial debt (18,470) — (20) (21,768) (951) (131) — — (41,340) (42,886) Accounts payable (c) — — — — — — — (26,479) (26,479) (26,479) Other operating liabilities — — (1,794) — — — — (8,341) (10,135) (10,135) Current borrowings (6,925) — — (4,171) — — — — (11,096) (11,095) Other current financial liabilities — — (88) — (157) — — — (245) (245) Total financial liabilities (25,395) — (1,902) (25,939) (1,108) (131) — (34,820) (89,295) (90,840) Total non-financial liabilities — — — — — — — — (153,336) — Total liabilities — — — — — — — — (242,631) — (a) Financial assets available for sale are measured at their fair value except for unlisted securities and listed securities on non active markets (see Note 8 to the Consolidated Financial Statements). (b) 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). (c) The impact of offsetting on accounts receivable, net is $(3,471) million and $3,471 million on accounts payable. |
Financial structure and finan_2
Financial structure and financial costs (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Financial structure, financial costs and financial instruments | |
Schedule of non-current financial debt and related financial instruments | As of December 31, 2019 (M$) (Assets) / Liabilities Secured Unsecured Total Non-current financial debt 6,438 41,335 47,773 of which hedging instruments of non-current financial debt (liabilities) — 1,694 1,694 Non-current financial assets (164) (748) (912) of which hedging instruments of non-current financial debt (assets) — (512) (512) Non-current net financial debt and related financial instruments 6,274 40,587 46,861 Variable rate bonds after fair value hedge — 19,340 19,340 Fixed rate bonds after cash flow hedge — 20,499 20,499 Other floating rate debt 72 618 690 Other fixed rate debt 103 322 425 Lease obligations 6,263 — 6,263 Non-current financial assets (164) (169) (333) Non-current instruments held for trading — (23) (23) Non-current net financial debt and related financial instruments 6,274 40,587 46,861 As of December 31, 2018 (M$) (Assets) / Liabilities Secured Unsecured Total Non-current financial debt 1,870 38,259 40,129 of which hedging instruments of non-current financial debt (liabilities) — 1,880 1,880 Non-current financial assets — (680) (680) of which hedging instruments of non-current financial debt (assets) — (613) (613) Non-current financial debt and related financial instruments 1,870 37,579 39,449 Variable rates bonds after fair value hedge — 20,570 20,570 Fixed rate bonds after cash flow hedge — 15,672 15,672 Other floating rate debt 111 621 732 Other fixed rate debt 94 754 848 Financial lease obligations 1,665 — 1,665 Non-current instruments held for trading — (38) (38) Non-current financial debt and related financial instruments 1,870 37,579 39,449 As of December 31, 2017 (M$) (Assets) / Liabilities Secured Unsecured Total Non-current financial debt 1,310 40,030 41,340 of which hedging instruments of non-current financial debt (liabilities) — 1,082 1,082 Non-current financial assets — (679) (679) of which hedging instruments of non-current financial debt (assets) — (606) (606) Non-current financial debt and related financial instruments 1,310 39,351 40,661 Variable rates bonds after fair value hedge — 20,620 20,620 Fixed rate bonds after cash flow hedge — 16,469 16,469 Other floating rate debt 70 1,692 1,762 Other fixed rate debt 123 623 746 Financial lease obligations 1,117 — 1,117 Non-current instruments held for trading — (53) (53) Non-current financial debt and related financial instruments 1,310 39,351 40,661 |
Schedule of fair value of bonds after taking into account currency and interest rates swaps | Amount Amount Amount after after after hedging as of hedging as of hedging as of Range Range of initial current rate Bonds after fair value hedge and variable rate bonds Currency of December 31, December 31, December 31, of current before hedging (M$) issuance maturities instruments Bond USD 6,276 6,276 7,266 2021 - 2028 2.218% - 3.883 % Bond USD 300 750 1,385 USLIBOR 3 mois + 0.75 % Bond CHF 410 204 391 2026 - 2029 0.176% - 0.298 % Bond NZD 164 252 252 4.750% - 5.000 % Bond AUD 378 699 850 2021 - 2025 4.000% - 4.250 % Bond EUR 9,675 10,212 8,266 2020 - 2044 0.250% - 3.125 % Bond EUR 1,641 1,644 1,639 EURIBOR 3 mois + 0.30% - EURIBOR 3 mois + 0.31 % Bond CAD 92 93 188 2.130 % Bond GBP 2,035 1,536 1,855 2020 - 2031 1.405% - 2.250 % Bond GBP — 472 470 — Bond NOK — — 103 Bond HKD 128 207 212 % Current portion (less than one year) (3,661) (3,679) (4,156) Total Principal Financing Entities (a) 17,438 18,666 18,721 TOTAL S.A. (b) 1,203 1,203 1,201 % Other consolidated subsidiaries 699 701 698 Total bonds after fair value hedge 19,340 20,570 20,620 Amount Amount Amount after after after hedging as of hedging as of hedging as of Range Range of initial current rate Bonds after cash flow hedge and fixed rate bonds Currency of December 31, December 31, December 31, of current before hedging (M$) issuance maturities instruments Bond EUR 10,246 9,268 9,337 2024 - 2029 0.696 % - 5.125 % Bond USD 8,565 5,040 5,000 2020 - 2049 2.041% - 4.450 % Bond CNY — — 164 Bond HKD 202 187 188 % Bond CHF 1,079 1,035 1,037 2024 - 2027 0.510% - 1.010 % Bond GBP 982 326 324 2024 - 2026 1.250% - 1.660 % Bond AUD 5 — — % Current portion (less than one year) (1,250) (946) (164) Total Principal Financing Entities (a) 19,829 14,910 15,886 Other consolidated subsidiaries 670 762 583 Total bonds after cash flow hedge and fixed rate bonds 20,499 15,672 16,469 (a) All debt securities issued through the following subsidiaries are fully and unconditionally guaranteed by TOTAL S.A. as to payment of principal, premium, if any, interest and any other amounts due : - TOTAL CAPITAL is a wholly and directly owned subsidiary of TOTAL S.A. (except for one share held by each director). It acts as a financing vehicle for the Group. The repayment of its financial debt (capital, premium and interest) is fully and unconditionally guaranteed by TOTAL S.A. - TOTAL CAPITAL CANADA Ltd. is a wholly and directly owned subsidiary of TOTAL S.A.. It acts as a financing vehicle for the activities of the Group in Canada. The repayment of its financial debt (capital, premium and interest) is fully and unconditionally guaranteed by TOTAL S.A. - TOTAL CAPITAL INTERNATIONAL is a wholly and directly owned subsidiary of TOTAL S.A. (except for one share held by each director). It acts as a financing vehicle for the Group. The repayment of its financial debt (capital, premium and interest) is fully and unconditionally guaranteed by TOTAL S.A. (b) Debt financing of $1.2 billion through a structure combining the issue of cash-settled convertible bonds with the purchase of cash-settled call options to hedge TOTAL's exposure to the exercise of the conversion rights under the bonds. |
Schedule of loan repayment schedule (excluding current portion) | of which hedging of which hedging instruments instruments Non-current As of December 31, of non‑current Non-current of non-current financial debt and 2019 Non‑current financial debt financial financial debt related financial (M$) financial debt (liabilities) assets (assets) instruments % 2021 5,716 204 (101) (9) 5,615 12 % 2022 6,226 433 (148) (121) 6,078 13 % 2023 5,230 106 (67) (18) 5,163 11 % 2024 5,885 139 (87) (83) 5,798 12 % 2025 and beyond 24,716 812 (509) (281) 24,207 52 % Total 47,773 1,694 (912) (512) 46,861 100 % of which hedging of which hedging instruments instruments Non-current As of December 31, of non‑current Non-current of non-current financial debt and 2018 Non‑current financial debt financial financial debt related financial (M$) financial debt (liabilities) assets (assets) instruments % 2020 5,442 386 (10) — 5,432 14 % 2021 4,042 251 (76) (57) 3,966 10 % 2022 5,262 448 (104) (104) 5,158 13 % 2023 5,020 93 (37) — 4,983 13 % 2024 and beyond 20,363 702 (453) (452) 19,910 50 % Total 40,129 1,880 (680) (613) 39,449 100 % of which hedging of which hedging instruments instruments Non-current As of December 31, of non‑current Non-current of non-current financial debt and 2017 Non‑current financial debt financial financial debt related financial (M$) financial debt (liabilities) assets (assets) instruments % 2019 6,005 164 (75) (68) 5,930 15 % 2020 5,119 222 (2) — 5,117 13 % 2021 3,810 96 (15) — 3,795 9 % 2022 5,026 165 (67) (67) 4,959 12 % 2023 and beyond 21,380 435 (520) (471) 20,860 51 % Total 41,340 1,082 (679) (606) 40,661 100 % |
Schedule of analysis by currency and interest rate | As of December 31, (M$) % % % U.S. Dollar 43,276 92 % 38,120 97 % 38,703 95 % Euro 2,639 6 % 1,103 3 % 724 2 % Norwegian krone 81 0 % 27 — % 975 2 % Other currencies 865 2 % 199 — % 259 1 % Total 46,861 100 % 39,449 100 % 40,661 100 % As of December 31, (M$) % % % Fixed rate 26,985 58 % 18,139 46 % 18,332 45 % Floating rate 19,876 42 % 21,310 54 % 22,329 55 % Total 46,861 100 % 39,449 100 % 40,661 100 % |
Schedule of current financial assets and liabilities | As of December 31, (M$) (Assets) / Liabilities Current financial debt (a) 8,710 8,316 6,396 Current lease obligations 1,202 — — Current portion of non-current financial debt 4,907 4,990 4,700 Current borrowings. (note 14) 14,819 13,306 11,096 Current portion of hedging instruments of debt (liabilities) 424 295 157 Other current financial instruments (liabilities) 63 183 88 Other current financial liabilities. (note 14) 487 478 245 Current deposits beyond three months (3,611) (3,536) (2,970) Non-traded marketable securities (114) — — Financial receivables on sub-lease, current (145) — — Current portion of hedging instruments of debt (assets) — (45) (172) Other current financial instruments (assets) (122) (73) (251) Current financial assets. (note 14) (3,992) (3,654) (3,393) Current borrowings and related financial assets and liabilities, net 11,314 10,130 7,948 (a) As of December 31, 2019, December 31, 2018 and December 31, 2017, the current financial debt includes a commercial paper program in Total Capital Canada Ltd.. Total Capital Canada Ltd. is a wholly-owned subsidiary of TOTAL S.A. It acts as a financing vehicle for the activities of the Group in Canada. Its debt securities are fully and unconditionally guaranteed by TOTAL S.A. as to payment of principal, premium, if any, interest and any other amounts due. |
Schedule of variations of financial debt | Non-cash changes Change in As of scope, First Reclassification As of January 1, Cash including IFRS 5 application Foreign Changes in Non-current / December 31, (M$) 2019 changes reclassification IFRS 16 currency fair value Current Other 2019 Non-current financial instruments - assets (a) and non-current financial assets (680) 21 12 (50) 4 (71) 144 (292) (912) Non-current financial debt 40,129 8,110 (731) 4,805 (48) 484 (6,661) 1,685 47,773 Non-current net financial debt and related financial instruments 39,449 8,131 (719) 4,755 (44) 413 (6,517) 1,393 46,861 Current financial instruments - assets (a) (118) 125 — — 2 (32) (144) (101) (268) Current borrowings 13,306 (5,954) (35) 750 184 (26) 6,661 (67) 14,819 Current financial instruments - liabilities (a) 478 — — — (6) 15 — — 487 Current net financial debt and related financial instruments 13,666 (5,829) (35) 750 180 (43) 6,517 (168) 15,038 Financial debt classified as held for sale — — 301 — — — — — 301 Financial debt 53,115 2,302 (453) 5,505 136 370 — 1,225 62,200 Non-cash changes Change in As of scope, Reclassification As of January 1, Cash including IFRS 5 Foreign Changes in Non-current / December 31, (M$) 2018 changes reclassification currency fair value Current Other 2018 Non-current financial instruments - assets (a) (679) — (72) 12 59 — — (680) Non-current financial debt 41,340 649 4,708 (59) 62 (6,260) (311) 40,129 Non-current net financial debt and related financial instruments 40,661 649 4,636 (47) 121 (6,260) (311) 39,449 Current financial instruments - assets (a) (423) — — 10 295 — — (118) Current borrowings 11,096 (3,990) 230 270 (514) 6,260 (46) 13,306 Current financial instruments - liabilities (a) 245 — 67 (11) 177 — — 478 Current net financial debt and related financial instruments 10,918 (3,990) 297 269 (42) 6,260 (46) 13,666 Financial debt classified as held for sale — — — — — — — — Financial debt 51,579 (3,341) 4,933 222 79 — (357) 53,115 (a): Fair value or cash flow hedge instruments and other non-hedge debt-related derivative instruments |
Schedule of monetary changes in non-current financial debt | For the year ended December 31, (M$) Issuance of non-current debt 8,668 3,938 2,959 Repayment of non-current debt (538) (3,289) (682) Net amount 8,131 649 2,277 |
Schedule of cash and cash equivalents | For the year ended December 31, (M$) Cash 16,456 15,186 13,427 Cash equivalents 10,896 12,721 19,758 Total 27,352 27,907 33,185 |
Schedule of net-debt-to-equity ratio | As of December 31, (M$) (Assets) / Liabilities Current borrowings 14,819 13,306 11,096 Other current financial liabilities 487 478 245 Current financial assets (3,992) (3,654) (3,393) Net financial assets and liabilities held for sale or exchange 301 (15) — Non-current financial debt 47,773 40,129 41,340 Non-current financial assets (912) (680) (679) Cash and cash equivalents (27,352) (27,907) (33,185) Net financial debt 31,124 21,657 15,424 Shareholders’ equity – Group share 116,778 115,640 111,556 Non-controlling interests 2,527 2,474 2,481 Shareholders’ equity 119,305 118,114 114,037 Net-debt-to-capital ratio 20.7 % 15.5 % 11.9 % |
Hedging of financial debt (Fair value hedge) | |
Financial structure, financial costs and financial instruments | |
Schedule of hedging instruments | Nomimal Nature of amount of Carrying amount of Line item in the For the year ended December 31 2019 hedging hedging hedging instruments statement of $M instruments instruments Assets Liabilities financial position Interest Rate Financial debt / Bonds Swaps 8,012 270 (75) Financial assets Cross Currency Financial debt / Bonds Swaps 14,357 124 (1,011) Financial assets |
Schedule of hedged items | Cumulative FVH adjustments included Nature of Carrying amount of in the carrying amount Line item in the For the year ended December 31 2019 hedging hedged items of the hedged items statement of financial $M instruments Assets Liabilities Assets Liabilities position Bonds Interest Rate Swaps — (7,450) — (795) Financial debt Bonds Cross Currency Swaps — (14,357) — 1,290 Financial debt End of hedging (before 2018) — — — (71) |
Cash flow hedge | |
Financial structure, financial costs and financial instruments | |
Schedule of hedging instruments | Nomimal Nature of amount of Carrying amount of Line item in the For the year ended December 31 2019 hedging hedging hedging instruments statement of $M instruments instruments Assets Liabilities financial position Interest Rate Financial debt / Bonds Swaps 12,782 25 (527) Financial assets Cross Currency Financial debt / Bonds Swaps 12,604 19 (431) Financial assets |
Interest rate risk | |
Financial structure, financial costs and financial instruments | |
Schedule of sensitivity analysis on interest rate and foreign exchange risk | Change in fair value due to a change in Assets / (Liabilities) interest rate by Carrying Estimated +10 basis ‑10 basis (M$) amount fair value points points As of December 31, 2019 Bonds (non-current portion, before swaps) (38,657) (41,805) 247 (247) Swaps hedging fixed-rates bonds (liabilities) (1,694) (1,694) — — Swaps hedging fixed-rates bonds (assets) 512 512 — — Total swaps hedging fixed-rates bonds (assets and liabilities) (1,182) (1,182) (44) 44 Current portion of non-current debt after swap (excluding lease obligations) (5,331) (5,332) 1 (1) Other interest rates swaps (7) (7) 18 (18) Currency swaps and forward exchange contracts 89 89 — — As of December 31, 2018 Bonds (non-current portion, before swaps) (34,975) (36,127) 185 (185) Swaps hedging fixed-rates bonds (liabilities) (1,880) (1,880) — — Swaps hedging fixed-rates bonds (assets) 613 613 — — Total swaps hedging fixed-rates bonds (assets and liabilities) (1,267) (1,267) (59) 59 Current portion of non-current debt after swap (excluding capital lease obligations) (5,027) (5,027) — — Other interest rates swaps (37) (37) 12 (12) Currency swaps and forward exchange contracts (34) (34) — — As of December 31, 2017 Bonds (non-current portion, before swaps) (36,613) (38,159) 191 (191) Swaps hedging fixed-rates bonds (liabilities) (1,082) (1,082) — — Swaps hedging fixed-rates bonds (assets) 606 606 — — Total swaps hedging fixed-rates bonds (assets and liabilities) (476) (476) (83) 83 Current portion of non-current debt after swap (excluding capital lease obligations) (4,646) (4,645) 1 (1) Other interest rates swaps 76 76 12 (12) Currency swaps and forward exchange contracts 142 142 — — The impact of changes in interest rates on the cost of debt before tax is as follows: For the year ended December 31, (M$) Cost of net debt (2,352) (2,121) (1,534) Interest rate translation of : + 10 basis points 27 29 29 ‑10 basis points (27) (29) (29) |
Foreign exchange risk | |
Financial structure, financial costs and financial instruments | |
Schedule of sensitivity analysis on interest rate and foreign exchange risk | Dollar / Euro exchange Dollar / Pound sterling Dollar / Ruble exchange rates exchange rates rates December 31, 2019 0.89 0.76 62.27 December 31, 2018 0.87 0.78 69.62 December 31, 2017 0.83 0.74 57.86 As of December 31, 2019 Pound Other (M$) Total Euro Dollar sterling Ruble currencies Shareholders’ equity at historical exchange rate 128,281 37,687 66,005 5,635 9,900 9,054 Currency translation adjustment before net investment hedge (11,501) (4,443) — (1,830) (3,355) (1,873) Net investment hedge – open instruments (2) (2) — — — — Shareholders’ equity at exchange rate as of December 31, 2019 116,778 33,241 66,005 3,805 6,545 7,182 As of December 31, 2018 Pound Other (M$) Total Euro Dollar sterling Ruble currencies Shareholders’ equity at historical exchange rate 126,953 41,518 59,125 9,077 8,248 8,985 Currency translation adjustment before net investment hedge (11,321) (3,706) — (1,960) (3,892) (1,763) Net investment hedge – open instruments 8 8 — — — — Shareholders’ equity at exchange rate as of December 31, 2018 115,640 37,820 59,125 7,117 4,356 7,222 As of December 31, 2017 Pound Other (M$) Total Euro Dollar sterling Ruble currencies Shareholders’ equity at historical exchange rate 119,450 44,930 51,674 6,467 7,366 9,013 Currency translation adjustment before net investment hedge (7,908) (1,903) — (1,543) (3,076) (1,386) Net investment hedge – open instruments 14 14 — — — — Shareholders’ equity at exchange rate as of December 31, 2017 111,556 43,041 51,674 4,924 4,290 7,627 Based on the 2019 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 (Group share) : As of December 31, 2019 Pound Norwegian (M$) Euro sterling Ruble Crown Impact of an increase of 10% of exchange rates on : – shareholders equity 3,324 381 654 — – net income (Group share) 110 95 153 — Impact of a decrease of 10% of exchange rates on : – shareholders equity (3,324) (381) (654) — – net income (Group share) (110) (95) (153) — |
Liquidity risk | |
Financial structure, financial costs and financial instruments | |
Schedule of liquidity risk - maturity of financial assets and liabilities | As of December 31, 2019 Assets/(Liabilities) Less than More than (M$) 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) — (5,683) (6,102) (5,172) (5,802) (24,435) (47,194) Non-current financial assets — 68 24 9 4 228 333 Current borrowings (14,819) — — — — — (14,819) Other current financial liabilities (487) — — — — — (487) Current financial assets 3,992 — — — — — 3,992 Assets and liabilities available for sale or exchange (301) — — — — — (301) Cash and cash equivalents 27,352 — — — — — 27,352 Net amount before financial expense 15,737 (5,615) (6,078) (5,163) (5,798) (24,207) (31,124) Financial expense on non-current financial debt (807) (724) (650) (594) (482) (2,215) (5,472) Interest differential on swaps (350) (325) (297) (255) (224) (1,046) (2,497) Net amount 14,580 (6,664) (7,025) (6,012) (6,504) (27,468) (39,093) As of December 31, 2018 Assets/(Liabilities) Less than More than (M$) one year 1-2 years 2-3 years 3-4 years 4-5 years 5 years Total Non-current financial debt (notional value excluding interests) — (5,432) (3,966) (5,158) (4,983) (19,910) (39,449) Current borrowings (13,306) — — — — — (13,306) Other current financial liabilities (478) — — — — — (478) Current financial assets 3,654 — — — — — 3,654 Assets and liabilities available for sale or exchange 15 — — — — — 15 Cash and cash equivalents 27,907 — — — — — 27,907 Net amount before financial expense 17,792 (5,432) (3,966) (5,158) (4,983) (19,910) (21,657) Financial expense on non-current financial debt (718) (682) (598) (506) (427) (1,037) (3,968) Interest differential on swaps (484) (412) (369) (309) (234) (869) (2,677) Net amount 16,590 (6,526) (4,933) (5,973) (5,644) (21,816) (28,302) As of December 31, 2017 Assets/(Liabilities) Less than More than (M$) 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) — (5,930) (5,117) (3,795) (4,959) (20,860) (40,661) Current borrowings (11,096) — — — — — (11,096) Other current financial liabilities (245) — — — — — (245) Current financial assets 3,393 — — — — — 3,393 Assets and liabilities available for sale or exchange — — — — — — — Cash and cash equivalents 33,185 — — — — — 33,185 Net amount before financial expense 25,237 (5,930) (5,117) (3,795) (4,959) (20,860) (15,424) Financial expense on non-current financial debt (805) (779) (636) (545) (454) (1,093) (4,312) Interest differential on swaps (193) (223) (257) (245) (198) (681) (1,797) Net amount 24,239 (6,932) (6,010) (4,585) (5,611) (22,634) (21,533) |
Schedule of financial assets and liabilities related to operating activities | As of December 31, Assets/(Liabilities) (M$) Accounts payable (28,394) (26,134) (26,479) Other operating liabilities (16,262) (13,286) (10,135) including financial instruments related to commodity contracts (5,333) (3,429) (1,794) Accounts receivable, net 18,488 17,270 14,893 Other operating receivables 11,506 9,733 9,336 including financial instruments related to commodity contracts 4,791 2,731 1,987 Total (14,662) (12,417) (12,385) |
Credit risk | |
Financial structure, financial costs and financial instruments | |
Schedule of maximum credit risk exposure | As of December 31, Assets/(Liabilities) (M$) Loans to equity affiliates (note 8) 3,999 4,755 5,135 Loans and advances (note 6) 1,982 1,877 2,878 Other non-current financial assets related to operational activities (note 6) 332 471 937 Non-current financial assets (note 15.1) 912 680 679 Accounts receivable (note 5) 18,488 17,270 14,893 Other operating receivables (note 5) 11,506 9,733 9,336 Current financial assets (note 15.1) 3,992 3,654 3,393 Cash and cash equivalents (note 15.1) 27,352 27,907 33,185 Total 68,563 66,347 70,436 |
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$) Loans and receivables 200 161 53 Financing liabilities and associated hedging instruments (1,897) (1,927) (1,395) Fair value hedge (ineffective portion) (1) (6) (1) Lease assets and obligations (417) — — Assets and liabilities held for trading (237) (349) (191) Impact on the cost of net debt (2,352) (2,121) (1,534) |
Schedule of maturity of derivative instruments | For the year ended December 31, 2019 Notional Notional value schedule (M$) Fair value Fair Assets / (Liabilities) value value and after and after Fair value hedge Swaps hedging bonds (assets) — — 469 10,896 Swaps hedging bonds (liabilities) (423) 3,346 (736) 8,127 Total swaps hedging bonds (423) 3,346 (267) 19,023 2,695 4,298 3,858 2,337 5,835 Cash flow hedge Swaps hedging bonds (assets) — — 43 4,062 Swaps hedging bonds (liabilities) — — (958) 21,324 Total swaps hedgings bonds — — (915) 25,386 — — 1,000 3,659 20,727 Forward exchange contracts related to operational activites (assets) 1 29 — — Forward exchange contracts related to operational activites (liabilities) — — — — Total forward exchange contracts related to operating activities 1 29 — — — — — — — Held for trading Other interest rate swaps (assets) 11 23,522 50 2,225 Other interest rate swaps (liabilities) (24) 16,007 (44) 3,475 Total other interest rate swaps (13) 39,529 6 5,700 2,217 1,463 18 1,820 182 Currency swaps and forward exchange contracts (assets) 111 6,446 17 431 Currency swaps and forward exchange contracts (liabilities) (39) 4,455 — 131 Total currency swaps and forward exchange contracts 72 10,901 17 562 529 33 — — — 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, 2018 Notional Notional value schedule (M$) Fair value Fair Assets / (Liabilities) value value and after and after Fair value hedge Swaps hedging bonds (assets) 45 1,345 235 3,712 Swaps hedging bonds (liabilities) (208) 1,874 (1,281) 16,225 Total swaps hedging fixed-rates bonds (163) 3,219 (1,046) 19,937 3,346 1,945 4,309 3,858 6,479 Cash flow hedge Swaps hedging bonds (assets) - - 378 10,043 Swaps hedging bonds (liabilities) (87) 969 (599) 11,265 Total swaps hedging bonds (87) 969 (221) 21,308 - - - - 21,308 Forward exchange contracts related to operational activites (assets) 2 39 — 4 Forward exchange contracts related to operational activites (liabilities) - - — - Total forward exchange contracts related to operational activites 2 39 — 4 4 - - - - Held for trading Other interest rate swaps (assets) 7 17,001 57 2,515 Other interest rate swaps (liabilities) (79) 20,816 (22) 2,686 Total other interest rate swaps (72) 37,817 35 5,201 2,186 1,004 56 1 1,954 Currency swaps and forward exchange contracts (assets) 66 10,500 11 44 Currency swaps and forward exchange contracts (liabilities) (104) 9,107 (7) 34 Total currency swaps and forward exchange contracts (38) 19,607 4 78 65 12 1 - - Notional amounts set the levels of commitment and are indicative nor of a contingent gain or loss neither of a related debt. For the year ended December 31, 2017 Notional Notional value schedule (M$) Fair value Fair Assets / (Liabilities) value value and after and after Fair value hedge Swaps hedging bonds (assets) 172 2,391 337 5,075 Swaps hedging bonds (liabilities) (157) 1,840 (951) 14,669 Total swaps hedging bonds 15 4,231 (614) 19,744 3,247 3,346 1,945 4,336 6,870 Cash flow hedge Swaps hedging bonds (assets) — — 269 9,466 Swaps hedging bonds (liabilities) — — (131) 11,288 Total swaps hedging bonds — — 138 20,754 969 — — — 19,785 Forward exchange contracts related to operational activites (assets) 2 55 — 28 Forward exchange contracts related to operational activites (liabilities) — — — — Total forward exchange contracts related to operational activites 2 55 — 28 24 4 — — — Held for trading Other interest rate swaps (assets) 32 36,775 64 2,300 Other interest rate swaps (liabilities) (17) 13,905 (3) 370 Total other interest rate swaps 15 50,680 61 2,670 41 50 1,000 - 1,579 Currency swaps and forward exchange contracts (assets) 219 15,132 9 175 Currency swaps and forward exchange contracts (liabilities) (71) 6,048 (17) 229 Total currency swaps and forward exchange contracts 148 21,180 (8) 404 222 128 46 7 1 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, 2019 assets data data (M$) (level 1) (level 2) (level 3) Total Fair value hedge instruments — (690) — (690) Cash flow hedge instruments — (915) — (915) Assets and liabilities held for trading — 82 — 82 Equity instruments 240 — — 240 Total 240 (1,523) — (1,283) Quoted prices in active markets Prices based Prices based on for identical on observable non observable As of December 31, 2018 assets data data (M$) (level 1) (level 2) (level 3) Total Fair value hedge instruments — (1,209) — (1,209) Cash flow hedge instruments — (306) — (306) Assets and liabilities held for trading — (71) — (71) Equity instruments 94 — — 94 Total 94 (1,586) — (1,492) Quoted prices in active markets Prices based Prices based on for identical on observable non observable As of December 31, 2017 assets data data (M$) (level 1) (level 2) (level 3) Total Fair value hedge instruments — (599) — (599) Cash flow hedge instruments — 140 — 140 Assets and liabilities held for trading — 216 — 216 Assets available for sale 100 — — 100 Total 100 (243) — (143) |
Financial instruments, excluding commodity contracts | Hedging of financial debt (Fair value hedge) | |
Financial structure, financial costs and financial instruments | |
Schedule of impact of the hedging strategies | For the year ended December 31, (M$) Revaluation impact at market value of bonds (762) 1,332 (2,519) Swap hedging of bonds 761 (1,338) 2,518 Ineffective portion of the fair value hedge (1) (6) (1) |
Financial instruments, excluding commodity contracts | Net investment hedge and other | |
Financial structure, financial costs and financial instruments | |
Schedule of impact of the hedging strategies | For the year ended December 31, As of As of (M$) January 1, Variations Disposals December 31 2019 (724) 7 — (717) 2018 (762) 38 — (724) 2017 (658) (104) — (762) |
Financial instruments, excluding commodity contracts | Cash flow hedge | |
Financial structure, financial costs and financial instruments | |
Schedule of impact of the hedging strategies | For the year ended December 31, (M$) Profit (Loss) recorded in equity during the period (585) 24 253 Recycled amount from equity to the income statement during the period 47 (116) 266 |
Financial instruments related_2
Financial instruments related to commodity contracts (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Trading & Shipping | |
Financial structure, financial costs and financial instruments | |
Schedule of market related risks - value-at-risk | As of December 31, (M$) High Low Average Year end 2019 28 9 17 21 2018 21 5 12 7 2017 28 4 16 7 |
Integrated Gas, Renewables and Power | |
Financial structure, financial costs and financial instruments | |
Schedule of market related risks - value-at-risk | As of December 31, (M$) High Low Average Year end 2019 83 10 20 64 2018 20 3 10 10 2017 13 3 6 4 |
Financial instruments related to commodity contracts | |
Financial structure, financial costs and financial instruments | |
Schedule of offsetting of financial instruments related to commodity contracts | Net balance Net balance As of December 31, 2019 Gross value Gross value Amounts Amounts sheet value sheet value Other (M$) before offsetting before offsetting offset - offset - presented presented amounts not Net carrying Fair Assets / (Liabilities) - assets - liabilities assets (c) liabilities (c) - assets - liabilities offset amount value (b) Crude oil, petroleum products and freight rates activities Petroleum products, crude oil and freight rate swaps 152 (244) (73) 73 79 (171) — (92) (92) Forwards (a) 300 (297) (3) 3 297 (294) — 3 3 Options 73 (106) — — 73 (106) — (33) (33) Futures — — — — — — — — — Options on futures — (160) — — — (160) — (160) (160) Other / Collateral — — — — — — 147 147 147 Total crude oil, petroleum products and freight rates 525 (807) (76) 76 449 (731) 147 (135) (135) Integrated Gas, Renewables & Power activities — — — — — — — — — Swaps 469 9 39 (39) 508 (30) — 478 478 Forwards (a) 4,080 (4,831) (296) 296 3,784 (4,535) — (751) (751) Options 76 (37) (28) 28 48 (9) — 39 39 Futures 17 (43) (15) 15 2 (28) — (26) (26) Other / Collateral — — — — — — (772) (772) (772) Total Integrated Gas, Renewables & Power 4,642 (4,902) (300) 300 4,342 (4,602) (772) (1,032) (1,032) Total 5,167 (5,709) (376) 376 4,791 (5,333) (625) (1,167) (1,167) Total of fair value non recognized in the balance sheet (a) Forwards: contracts resulting in physical delivery are accounted for as derivative commodity contracts and included in the amounts shown. (b) When the fair value of derivatives listed on an organized exchange market (futures, options on futures and swaps) is offset with the margin call received or paid in the balance sheet, this fair value is set to zero. (c) Amounts offset in accordance with IAS 32. Net balance Net balance As of December 31, 2018 Gross value Gross value Amounts Amounts sheet value sheet value Other (M$) before offsetting before offsetting offset - offset - presented presented amounts not Net carrying Fair Assets / (Liabilities) - assets - liabilities assets (c) liabilities (c) - assets - liabilities offset amount value (b) Crude oil, petroleum products and freight rates activities Petroleum products, crude oil and freight rate swaps 389 (272) (140) 140 249 (132) — 117 117 Forwards (a) 243 (373) (59) 59 184 (314) — (130) (130) Options 243 (363) (156) 156 87 (207) — (120) (120) Futures 10 — — — 10 — — 10 10 Options on futures 529 (689) (529) 529 — (160) — (160) (160) Other / Collateral — — — — — — (118) (118) (118) Total crude oil, petroleum products and freight rates 1,414 (1,697) (884) 884 530 (813) (118) (401) (401) Integrated Gas, Renewables & Power activities — — — — — — — — — Swaps 18 (624) (6) 6 12 (618) — (606) (606) Forwards (a) 2,492 (2,285) (316) 316 2,176 (1,969) — 207 207 Options 3 (20) (18) 18 (15) (2) — (17) (17) Futures 126 (125) (98) 98 28 (27) — 1 1 Other / Collateral — — — — — — 445 445 445 Total Integrated Gas, Renewables & Power 2,639 (3,054) (438) 438 2,201 (2,616) 445 30 30 Total 4,053 (4,751) (1,322) 1,322 2,731 (3,429) 327 (371) (371) 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 Net balance As of December 31, 2017 Gross value Gross value Amounts Amounts sheet value sheet value Other (M$) before offsetting before offsetting offset - offset - presented presented amounts not Net carrying Fair Assets / (Liabilities) - assets - liabilities assets (c) liabilities (c) - assets - liabilities offset amount value (b) Crude oil, petroleum products and freight rates activities Petroleum products, crude oil and freight rate swaps 244 (333) (102) 102 142 (231) — (89) (89) Forwards (a) 109 (113) (12) 12 97 (101) — (4) (4) Options 82 (163) (52) 52 30 (111) — (81) (81) Futures — — — — — — — — — Options on futures 202 (251) (155) 155 47 (96) — (49) (49) Other / Collateral — — — — — — 63 63 63 Total crude oil, petroleum products and freight rates 637 (860) (321) 321 316 (539) 63 (160) (160) Integrated Gas, Renewables & Power activities — — — — — — — — — Swaps 76 (7) (3) 3 73 (4) — 69 69 Forwards (a) 1,717 (1,345) (92) 92 1,625 (1,253) — 372 372 Options 6 (30) (33) 33 (27) 3 — (24) (24) Futures — (1) — — — (1) — (1) (1) Other / Collateral — — — — — — (86) (86) (86) Total Integrated Gas, Renewables & Power 1,799 (1,383) (128) 128 1,671 (1,255) (86) 330 330 Total 2,436 (2,243) (449) 449 1,987 (1,794) (23) 170 170 Total of fair value non recognized in the balance sheet — (a) Forwards: contracts resulting in physical delivery are accounted for as derivative commodity contracts and included in the amounts shown. (b) When the fair value of derivatives listed on an organized exchange market (futures, options on futures and swaps) is offset with the margin call received or paid in the balance sheet, this fair value is set to zero. (c) Amounts offset in accordance with IAS 32. |
Schedule of changes in fair value and fair value hierarchy for financial instruments | For the year ended December 31, Fair value Impact on Settled Fair value as of (M$) as of January 1, income contracts Other December 31, Crude oil, petroleum products and freight rates activities 2019 (283) 4,189 (4,188) — (282) 2018 (223) 2,689 (2,749) — (283) 2017 130 2,693 (3,047) — (223) Integrated Gas, Renewables & Power activities 2019 (415) 1,588 (686) (747) (260) 2018 416 1,220 (2,057) 6 (415) 2017 218 717 (554) 35 416 In 2019, the Other column mainly includes the acquisition of Toshiba's LNG portfolio, for which financial instruments related to commodity contracts have been recognized for the amount of treasury received. 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, 2019 identical observable data non observable (M$) assets (level 1) (level 2) data (level 3) Total Crude oil, petroleum products and freight rates activities (182) (172) 72 (282) Integrated Gas, Renewables & Power activities 392 2,054 (2,706) (260) Total 210 1,882 (2,634) (542) Quoted prices in active markets for Prices based on Prices based on As of December 31, 2018 identical observable data non observable (M$) assets (level 1) (level 2) data (level 3) Total Crude oil, petroleum products and freight rates activities (303) 20 — (283) Integrated Gas, Renewables & Power activities 424 (638) (201) (415) Total 121 (618) (201) (698) Quoted prices in active markets for Prices based on Prices based on As of December 31, 2017 identical observable data non observable (M$) assets (level 1) (level 2) data (level 3) Total Crude oil, petroleum products and freight rates activities (49) (173) — (223) Integrated Gas, Renewables & Power activities 288 128 — 416 Total 239 (45) — 193 |
Schedule of impact of the hedging strategies | As of December 31 (M$) Profit (Loss) recorded in equity during the period (14) 3 71 Recycled amount from equity to the income statement during the period — (3) (6) |
Consolidation scope (Tables)
Consolidation scope (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Consolidation scope | |
Schedule of the main group consolidated entities | % Group Country of Business segment Statutory corporate name interest Method incorporation Country of operations Exploration & Production Abu Dhabi Gas Industries Limited % E United Arab Emirates United Arab Emirates Abu Dhabi Marine Areas Limited % E United Kingdom United Arab Emirates Angola Block 14 B.V. % Netherlands Angola Angola LNG Supply Services, LLC % E United States United States Bonny Gas Transport Limited % E Bermuda Nigeria Brass Holdings S.A.R.L. % Luxembourg Nigeria Brass LNG Limited % E Nigeria Nigeria Deer Creek Pipelines Limited % Canada Canada Dolphin Energy Limited % E United Arab Emirates United Arab Emirates E.F. Oil And Gas Limited % United Kingdom United Kingdom Elf E&P % France France Elf Exploration UK Limited % United Kingdom United Kingdom Elf Petroleum Iran % France Iran Elf Petroleum UK Limited % United Kingdom United Kingdom Gas Investment and Services Company Limited % E Bermuda Oman Mabruk Oil Operations % France Libya Marathon Oil Libya Limited % Cayman Islands Libya Moattama Gas Transportation Company Limited % E Bermuda Myanmar Norpipe Oil A/S % E Norway Norway Norpipe Petroleum UK Limited % E United Kingdom Norway Norpipe Terminal Holdco Limited % E United Kingdom Norway Norsea Pipeline Limited % E United Kingdom Norway North Oil Company % E Qatar Qatar Novatek % E Russia Russia Pars LNG Limited % E Bermuda Iran Petrocedeno % E Venezuela Venezuela Private Oil Holdings Oman Limited % E United Kingdom Oman Stogg Eagle Funding B.V. % Netherlands Nigeria Tepkri Sarsang A/S % Denmark Iraq Termokarstovoye S.A.S. % France Russia Terneftegaz JSC (a) % E Russia Russia Total (BTC) B.V. % Netherlands Azerbaijan Total Abu Al Bu Khoosh % France United Arab Emirates Total Austral % France Argentina Total Brazil Services B.V. % Netherlands Netherlands Total Danmark Pipelines A/S % Denmark Denmark Total Denmark ASW Pipeline ApS % Denmark Denmark Total Denmark ASW, Inc. % United States Denmark Total Dolphin Midstream % France France Total E&P Chissonga Limited % Angola Angola Total E&P Absheron B.V. % Netherlands Azerbaijan Total E&P Al Shaheen A/S % Denmark Qatar Total E&P Algerie % France Algeria Total E&P Algerie Berkine A/S % Algeria Algeria Total E&P Americas, LLC % United States United States Total E&P Anchor, LLC % United States United States Total E&P Angola % France Angola Total E&P Angola Block 15/06 Limited % France Angola Total E&P Angola Block 16 A/S % Denmark Angola Total E&P Angola Block 16 Holding A/S % Angola Angola Total E&P Angola Block 17.06 % France Angola Total E&P Angola Block 25 % France Angola Total E&P Angola Block 32 % France Angola Total E&P Angola Block 33 % France Angola Total E&P Angola Block 39 % France Angola Total E&P Angola Block 40 % France Angola Total E&P Angola Block 48 B.V. % Netherlands Angola Total E&P Angola Chissonga Holdings Limited % Angola Angola Total E&P Aruba B.V. % Netherlands Aruba Total E&P Asia Pacific Pte. Limited % Singapore Singapore Total E&P Azerbaijan B.V. % Netherlands Azerbaijan Total E&P Bolivie % France Bolivia Total E&P Borneo B.V. % Netherlands Brunei Total E&P Bulgaria B.V. % Netherlands Bulgaria Total E&P Cambodge % France Cambodia Total E&P Canada Limited % Canada Canada Total E&P Chine % France China Total E&P Colombie % France Colombia Total E&P Congo % Congo Congo Total E&P Cote d'Ivoire % France Côte d'Ivoire Total E&P Cote d'Ivoire CI - 514 % France Côte d'Ivoire Total E&P Cote d'Ivoire CI - 515 % France Côte d'Ivoire Total E&P Cote d'Ivoire CI - 516 % France Côte d'Ivoire Total E&P Cote d'Ivoire CI-605 B.V. % Netherlands Côte d'Ivoire Total E&P Cyprus B.V. % Netherlands Cyprus Total E&P Danmark A/S - CPH % Denmark Denmark Total E&P Danmark A/S -EBJ % Denmark Denmark Total E&P Deep Offshore Borneo B.V. % Netherlands Brunei Total E&P Do Brasil Ltda % Brazil Brazil Total E&P Dolphin Upstream % France France Total E&P Dunga GmbH % Germany Kazakhstan Total E&P East El Burullus Offshore B.V. % Netherlands Egypt Total E&P Egypt Block 2 B.V. % Netherlands Egypt Total E&P Egypte % France Egypt Total E&P Europe and Central Asia Limited % United Kingdom United Kingdom Total E&P France % France France Total E&P Golfe Limited % France France Total E&P Gom Moh. LLC % United States United States Total E&P Greece B.V. % Netherlands Greece Total E&P Guyana B.V. % Netherlands Guyana Total E&P Guyane Francaise % France France Total E&P Holdings Russia % France France Total E&P Holdings UAE B.V. % Netherlands United Arab Emirates Total E&P International K1 Limited % Kenya Kenya Total E&P International K2 Limited % Kenya Kenya Total E&P International K3 Limited % Kenya Kenya Total E&P International Limited % Kenya Kenya Total E&P Iraq % France Iraq Total E&P Ireland B.V. % Netherlands Ireland Total E&P Italia % Italy Italy Total E&P Jack LLC % United States United States Total E&P Jutland Denmark B.V. % Netherlands Denmark Total E&P Kazakhstan % France Kazakhstan Total E&P Kenya B.V. % Netherlands Kenya Total E&P Kurdistan Region of Iraq (Harir) B.V. % Netherlands Iraq Total E&P Kurdistan Region of Iraq (Safen) B.V. % Netherlands Iraq Total E&P Kurdistan Region of Iraq (Taza) B.V. % Netherlands Iraq Total E&P Kurdistan Region of Iraq B.V. % Netherlands Iraq Total E&P Liban S.A.L. % Lebanon Lebanon Total E&P Libye % France Libya Total E&P Lower Zakum B.V. % Netherlands United Arab Emirates Total E&P Malaysia % France Malaysia Total E&P Mauritania Block C18 B.V. % Netherlands Mauritania Total E&P Mauritania Block C9 B.V. % Netherlands Mauritania Total E&P Mauritania Blocks DW B.V. % Netherlands Mauritania Total E&P Mauritanie % France Mauritania Total E&P Mexico S.A. de C.V. % Mexico Mexico Total E&P Mozambique B.V. % Netherlands Mozambique Total E&P Myanmar % France Myanmar Total E&P Namibia B.V. % Netherlands Netherlands Total E&P Nederland B.V. % Netherlands Netherlands Total E&P New Ventures Inc. % United States United States Total E&P Nigeria Deepwater A Limited % Nigeria Nigeria Total E&P Nigeria Deepwater B Limited % Nigeria Nigeria Total E&P Nigeria Deepwater C Limited % Nigeria Nigeria Total E&P Nigeria Deepwater D Limited % Nigeria Nigeria Total E&P Nigeria Deepwater E Limited % Nigeria Nigeria Total E&P Nigeria Deepwater F Limited % Nigeria Nigeria Total E&P Nigeria Deepwater G Limited % Nigeria Nigeria Total E&P Nigeria Deepwater H Limited % Nigeria Nigeria Total E&P Nigeria Limited % Nigeria Nigeria Total E&P Nigeria S.A.S. % France France Total E&P Norge AS % Norway Norway Total E&P North Sea UK Limited % United Kingdom United Kingdom Total E&P Oman % France Oman Total E&P Participations Petrolieres Congo % Congo Congo Total E&P Philippines B.V. % Netherlands Philippines Total E&P Qatar % France Qatar Total E&P RDC % Democratic Republic of Congo Democratic Republic of Congo Total E&P Research & Technology USA LLC % United States United States Total E&P Russie % France Russia Total E&P Senegal % France Senegal Total E&P Services China Company Limited % China China Total E&P South Africa B.V. % Netherlands South Africa Total E&P South Pars % France Iran Total E&P South Sudan % France Republic of South Sudan Total E&P Syrie % France Syrian Arab Republic Total E&P Tajikistan B.V. % Netherlands Tajikistan Total E&P Thailand % France Thailand Total E&P Three Pl B.V. % Netherlands Brazil Total E&P Timan-Pechora LLC % Russia Russia Total E&P UAE Unconventional Gas B.V. % Netherlands United Arab Emirates Total E&P Uganda B.V. % Netherlands Uganda Total E&P UK Limited % United Kingdom United Kingdom Total E&P Umm Shaif Nasr B.V. % Netherlands United Arab Emirates Total E&P Uruguay B.V. % Netherlands Uruguay Total E&P Uruguay Onshore B.V. % Netherlands Uruguay Total E&P US Well Containment, LLC % United States United States Total E&P USA Inc. % United States United States Total E&P USA Oil Shale, LLC % United States United States Total E&P Well Response % France France Total E&P Yemen % France Yemen Total E&P Yemen Block 3 B.V. % Netherlands Yemen Total East Africa Midstream B.V. % Netherlands Uganda Total Energy (Meuk) Limited % United Kingdom United Kingdom Total Exploration M'Bridge % Netherlands Angola Total Facilities Management B.V. % Netherlands Netherlands Total Gabon % Gabon Gabon Total Gass Handel Norge AS % Norway Norway Total Gastransport Nederland B.V. % Netherlands Netherlands Total Holding Dolphin Amont % France France Total Holdings Nederland B.V. % Netherlands Netherlands Total Holdings Nederland International B.V. % Netherlands Netherlands Total Iran B.V. % Netherlands Iran Total LNG Supply Services USA Inc. % United States United States Total Oil and Gas South America % France France Total Oil and Gas Venezuela B.V. % Netherlands Venezuela Total Oil Gb Limited % United Kingdom United Kingdom Total Oil UK Limited % United Kingdom United Kingdom Total P&G do Brasil Ltda % Brazil Brazil Total Pars LNG % France Iran Total Petroleum Angola % France Angola Total Profils Petroliers % France France Total Qatar % France Qatar Total South Pars % France Iran Total Upstream Danmark A/S % Denmark Denmark Total Upstream Nigeria Limited % Nigeria Nigeria Total Upstream UK Limited % United Kingdom United Kingdom Total Venezuela % France France Uintah Colorado Resources, Llc % United States United States Unitah Colorado Resources II, LLC % United States United States Ypergas S.A. % France Venezuela % Group Country of Business segment Statutory corporate name interest Method incorporation Country of operations Integrated Gas, Renewables & Power Abu Dhabi Gas Liquefaction Company Limited % E United Arab Emirates United Arab Emirates Adani Total Private Limited (e) % E India India Advanced Thermal Batteries Inc. % E United States United States Aerospatiale Batteries (ASB) % E France France Aerowatt Energies % E France France Aerowatt Energies 2 % E France France Aerowatt Energies Nogara % E France France Aerowatt Energies Nogara 2 % E France France Alcad AB % Sweden Sweden Altinergie % E France France Angola LNG Limited % E Bermuda Angola Arctic LNG 2 LLC (c) % E Russia Russia ATJV Offshore % E Singapore Singapore Bassin Du Capiscol % France France Biogaz Breuil % France France Biogaz Chatillon % France France Biogaz Corcelles % France France Biogaz Epinay % France France Biogaz Libron % France France Biogaz Milhac % France France Biogaz Soignolles % France France Biogaz Torcy % France France Biogaz Vert Le Grand % France France Biogaz Viriat % France France Borrowed Sunshine II Parent, LLC % United States United States Borrowed Sunshine II, LLC % United States United States BSP Class B Member HoldCo, LLC % United States United States BSP Class B Member, LLC % United States United States BSP Holding Company, LLC % United States United States BSP II Parent, LLC % United States United States Cameron LNG Holdings LLC % E United States United States Centrale Eolienne De Couloumi % France France Centrale Eolienne De Coume % France France Centrale Eolienne De Dainville % France France Centrale Eolienne De Goulien % France France Centrale Eolienne De La Vallee Gentillesse % France France Centrale Eolienne De L'Olivier % France France Centrale Eolienne Des Malandaux % France France Centrale Eolienne Du Plan Du Pal % France France Centrale Eolienne La Cote Du Moulin A Vent % France France Centrale Eolienne La Croix De Cuitot % France France Centrale Eolienne Les Champs Parents % France France Centrale Eolienne Varades % France France Centrale Hydrolique Alas % France France Centrale Hydrolique Ardon % France France Centrale Hydrolique Arvan % France France Centrale Hydrolique Barbaira % France France Centrale Hydrolique Bonnant % France France Centrale Hydrolique La Buissiere % France France Centrale Hydrolique Previnquieres % France France Centrale Photovoltaique De La Croix % France France Centrale Photovoltaique De Merle Sud % E France France Centrale Photovoltaique Du Seneguier % France France Centrale Photovoltaique Le Barou % France France Centrale Solaire 2 % France United States Centrale Solaire Autoprod % France France Centrale Solaire Base 112 % France France Centrale Solaire Betheniville % E France France Centrale Solaire Briffaut % France France Centrale Solaire Centre Ouest 2 % France France Centrale Solaire Cet De Hesse % France France Centrale Solaire Chemin De Melette % France France Centrale Solaire Couloumine % France France Centrale Solaire De Cazedarnes % France France Centrale Solaire de la Med % France France Centrale Solaire Dom % France France Centrale Solaire Du Centre Ouest % France France Centrale Solaire Du Lavoir % France France Centrale Solaire Du Pla De La Roque % France France Centrale Solaire Estarac % E France France Centrale Solaire Felix % France France Centrale Solaire Ficon % France France Centrale Solaire Forum Laudun % France France Centrale Solaire Fremy % France France Centrale Solaire Gardanne % France France Centrale Solaire Gigognan % E France France Centrale Solaire Guinots % France France Centrale Solaire Heliovale % E France France Centrale Solaire La Metairie % France France Centrale Solaire La Potence % France France Centrale Solaire La Sauteirane % France France Centrale Solaire La Tastere % France France Centrale Solaire Le Castellet % France France Centrale Solaire Le Cres % E France France Centrale Solaire Les Ancizes % France France Centrale Solaire Les Aspres % France France Centrale Solaire Les Canebieres % France France Centrale Solaire Les Cordeliers % France France Centrale Solaire Les Cordeliers 2 % France France Centrale Solaire Les Galliennes % France France Centrale Solaire Les Melettes % France France Centrale Solaire Lodes % France France Centrale Solaire Lyreco % France France Centrale Solaire Manosque Ombriere % France France Centrale Solaire Mazeran Lr % France France Centrale Solaire Mazeran Paca % France France Centrale Solaire Olinoca % E France France Centrale Solaire Ombrieres Cap Agathois % France France Centrale Solaire Ombrieres De Blyes % France France Centrale Solaire Ombrieres De Boujan % France France Centrale Solaire Ombrieres P5 % France France Centrale Solaire Pezenas % France France Centrale Solaire Piennes % France France Centrale Solaire Plateau De Pouls % France France Centrale Solaire Pont Sur Sambre % France France Centrale Solaire Quadrao % France France Centrale Solaire Sableyes % E France France Centrale Solaire SPW2 % France France Centrale Solaire Supdevenergie % France France Centrale Solaire Toiture Josse % France France Centrale Solaire Valorbi % France France Centrale Solaire Viguier % France France Centrale Solaire Zabo % France France Centrale Solaire Zabo 2 % France France Co Biogaz % E France France Cogenra Solar, Inc. % United States United States Colón LNG Marketing S. de R. L. % E Panama Panama Cote d'Ivoire GNL % E Côte d'Ivoire Côte d'Ivoire DAJA 148 % France France DAJA 154 % France France DAJA 160 % France France Dongfang Huansheng Photovoltaic (Jiangsu) Company Limited % E China United States Electricite Solaire De Molleges % France France Eole Balaze 2 % E France France Eole Balaze S.A.R.L. % E France France Eole Boin % France France Eole Broceliande % France France Eole Champagne Conlinoise % France France Eole Cote Du Moulin % France France Eole Desirade 4 % E France France Eole Du Bocage % France France Eole Fonds Caraibes % France France Eole Grand Maison % France France Eole La Montagne % France France Eole La Motelle % E France France Eole La Perriere S.A.R.L. % France France Eole Les Buissons % France France Eole Les Patoures % France France Eole Maxent % E France France Eole Morne Carriere % France France Eole Morne Constant % France France Eole Moulin Tizon % France France Eole Petit Fougeray % France France Eole Petite Place % E France France Eole Pierrefitte Es Bois % France France Eole Saint-Jean Lachalm % France France Eole Sorbon II % France France Eole Sorbon S.A.R.L. % France France Eole Yate % France France Eoliennes Arques 1 % France France Eoliennes Arques 2 % France France Eoliennes Arques 3 % France France Eoliennes De La Chaussee Brunehaut % France France Eoliennes De La Chaussee Brunehaut 1 % France France Eoliennes De La Chaussee Brunehaut 2 % France France Eoliennes De La Chaussee Brunehaut 3 % France France Eoliennes De La Chaussee Brunehaut 4 % France France Eoliennes De La Chaussee Brunehaut 5 % France France Eoliennes De L'Ourcq Et Du Clignon % France France Eoliennes Du Champ Chardon % France France Eoloue % E France France Fast Jung KB % Sweden Sweden Finansol 1 % France France Finansol 2 % France France Finansol 3 % France France Fosmax LNG % E France France Frieman & Wolf Batterietechnick GmbH % Germany Germany Gas Del Litoral SRLCV % E Mexico Mexico GFS I Class B Member, LLC % United States United States Gfs I Holding Company, LLC % United States United States Glaciere De Palisse % France France Global Energy Armateur SNC % France France Global LNG Armateur S.A.S. % France France Global LNG Downstream S.A.S. % France France Global LNG North America Corporation % United States United States Global LNG S.A.S. % France France Global LNG Supply S.A. % France France Global LNG UK Limited % United Kingdom United Kingdom Go Electric % United States United States Golden Fields Solar I, LLC % United States United States Goodfellow Solar Construction, LLC % United States United States Goodfellow Solar II, LLC % United States United States Goodfellow Solar III, LLC % United States United States Greenflex Actirent Group, S.L. % Spain Spain Greenflex S.A.S. % France France Gulf Total Tractebel Power Company PSJC % E United Arab Emirates United Arab Emirates Helio 100 Kw % France France Helio 21 % France France Helio 974 Toitures % France France Helio Bakia % France France Helio Beziers % E France France Helio Boulouparis % France France Helio Boulouparis 2 % France France Helio Florensac % E France France Helio Fonds Caraibes % France France Helio Koumac % France France Helio La Perriere % E France France Helio Logistique % E France France Helio L'R % France France Helio Moindah % France France Helio Orange % E France France Helio Piin Patch % France France Helio Popidery % France France Helio Reunion % France France Helio Tamoa % France France Helio Temala % France France Helix Project III, LLC % United States United States Helix Project V, LLC % United States United States HETTY % France France Holding Eole 2018 % France France Holding Otev % France France Holding Pdr % France France Huaxia CPV (Inner Mongolia) Power Corporation, Limited % E China United States Hydro Tinee % E France France Hydro-M Ingenierie Des Energies Renouvelables % France France Hydromons % France France Ichthys LNG PTY Limited % E Australia Australia Institut Photovoltaique D'Ile De France (IPVF) % France France Ise Total Nanao Power Plant G.K. % E Japan Japan JDA Overseas Holdings, LLC % United States United States Jingdan New Energy investment (Shanghai) Co. Ltd % E China China Jmb Hydro S.A.R.L. % France France Jmb Solar % France France Jmb Solar Nogara % France France Jmcp % France France Kozani Energy Anonymi Energeiaki Etaireia distinctive title Kozani Energy S.A. % Greece Greece Kozani Energy Malta Limited % Malta Malta LA Basin Solar I, LLC % United States United States La Compagnie Electrique de Bretagne % France France La Metairie Neuve % E France France La Seauve % France France Lampiris S.A. % Belgium Belgium Lemoore Stratford Land Holdings IV, LLC % United States United States Les Eoliennes De Conquereuil % France France Les Moulins A Vent De Kermadeen % France France Les Vents De Nivillac % France France Les Vents De Ranes % France France Libcom % France France Libwatt % France France Lincoln Solar Star, LLC % United States United States Margeriaz Energie % France France Marysville Unified School District Solar, LLC % United States United States Maxeon Solar Technologies, Pte. Ltd. % Singapore United States Messigaz SNC % France France Methanergy % France France Missiles & Space Batteries Limited % E United Kingdom United Kingdom Miyagi Osato Solar Park G.K. % Japan Japan Miyako Kuzakai Solarpark G.K. % E Japan Japan Mojave Solar Investment, LLC % United States United States Mulilo Prieska PV (RF) Proprietary Limited % E South Africa South Africa National Gas Shipping Company Limited % E United Arab Emirates United Arab Emirates NEM Solar Targetco, LLC % United States United States Nigeria LNG Limited % E Nigeria Nigeria NorthStar Energy Management, LLC % United States United States Northstar Santa Clara County 2016, LLC % United States United States Nouvelle Centrale Eolienne de Lastours % E France France Nouvelle Entreprise D'Energie Solaire % E France France Nyk Armateur S.A.S. % E France France Oman LNG, LLC % E Oman Oman Ombrieres Te Vendres % France France Parc Des Hauts Vents % E France France Parc Eolien De Nesle La Reposte % France France Parc Eolien Nordex III % E France France Parc Eolien Nordex XXIX % E France France Parc Eolien Nordex XXX % E France France Parc Solaire De Servian % France France Parc Solaire De Servian 2 % France France Partrederiet Bw Gas Global LNG % E Norway Norway Perpetual Sunhine Solar Program I, LLC % United States United States Perpetual Sunshine I, LLC % United States United States Photovoltaic Park Malta Limited % Malta United States Photovoltaica Parka Veroia Anonymi Etaireia % Greece Greece Pos % France France Pos Production Ii % France France Pos Production Iii % France France Pos Production Iv % France France Pos Production V % France France PV Salvador SPA % E Chile Chile Qatar Liquefied Gas Company Limited % E Qatar Qatar Qatar Liquefied Gas Company Limited (II) % E Qatar Qatar Quadran Caraibes % France France Quadran Holding Nc % France France Quadran Nogara % France France Quadran Pacific % France France Quadrelio % France France Quadrica % E France France Roquefort Solar % E France France Rosamond Raven Holdings, LLC % United States United States Saft (Zhuhai FTZ) Batteries Company Limited % China China Saft (Zhuhai) Energy Storage Co % China China Saft AB % Sweden Sweden Saft Acquisition S.A.S. % France France Saft America Inc. % United States United States Saft AS % Norway Norway Saft Australia PTY Limited % Australia Australia Saft Batterias SL % Spain Spain Saft Batterie Italia S.R.L. % Italy Italy Saft Batterien GmbH % Germany Germany Saft Batteries Pte Limited % Singapore Singapore Saft Batteries PTY Limited % Australia Australia Saft Batterijen B.V. % Netherlands Netherlands Saft Do Brasil Ltda % Brazil Brazil Saft Ferak AS % Czech Republic Czech Republic Saft Finance S.A.R.L. % Luxembourg Luxembourg Saft Groupe S.A. % France France Saft Hong Kong Limited % Hong Kong Hong Kong Saft India Private Limited % India India Saft Japan KK % Japan Japan Saft Limited % United Kingdom United Kingdom Saft LLC % Russia Russia Saft Nife ME Limited % Cyprus Cyprus Saft S.A.S. % France France SGS Antelope Valley Development, LLC % United States United States Sgula (East) Green Energies Limited % Israel United States Shams Power Company PJSC % E United Arab Emirates United Arab Emirates Smalt Energie % France France Societe Champenoise d'Energie % E France France Societe d'exploitation de centrales photovoltaiques 1 % France France Societe Economie Mixte Production Energetique Renouvelable % E France France Solaire Grand Sud % France France Solaire Libron % France France Solaire Villon % E France France Solar Carport NJ, LLC % United States United States Solar Energies % E France France Solar Mimizan % France France Solar Sail Commercial Holdings, LLC % United States United States Solar Sail Holdings, LLC % United States United States Solar Sail, LLC % United States United States Solar Star Always Low Prices Ct, LLC % United States United States Solar Star Always Low Prices Hi, LLC % United States United States Solar Star Always Low Prices Il, LLC % United States United States Solar Star Always Low Prices Ma, LLC % United States United States Solar Star Arizona HMR-I, LLC % United States United States Solar Star Arizona II, LLC % United States United States Solar Star Arizona VII, LLC % United States United States Solar Star Bay City 2, LLC % United States United States Solar Star California I, LLC % United States United States Solar Star California IV, LLC % United States United States Solar Star California LXXV, LLC % United States United States Solar Star California LXXVI, LLC % United States United States Solar Star California XXXV, LLC % United States United States Solar Star California XXXVI, LLC % United States United States Solar Star California XXXVIII, LLC % United States United States Solar Star Co Co 1, LC % United States United States Solar Star Coastal Pirate, LLC % United States United States Solar Star Colorado II, LLC % United States United States Solar Star Cougars, LLC % United States United States Solar Star HD Connecticut, LLC % United States United States Solar Star HD Maryland, LLC % United States United States Solar Star HD New Jersey, LLC % United States United States Solar Star HD New York, LLC % United States United States Solar Star Healthy 1, LLC % United States United States Solar Star Healthy Lake, LLC % United States United States Solar Star IL – TFS, LLC % United States United States Solar Star Irwd Baker, LLC % United States United States Solar Star Kale 1, LLC % United States United States Solar Star Kale 2 % United States United States Solar Star Khsd, LLC % United States United States Solar Star LCR Culver City, LLC % United States United States Solar Star LCR Irvine, LLC % United States United States Solar Star LCR LA 1, LLC % United States United States Solar Star LCR LA 2, LLC % United States United States Solar Star LCR Split 1, LLC % United States United States Solar Star LCR Split 2, LLC % United States United States Solar Star MA - Tewksbury, LLC % United States United States Solar Star Massachusetts II, LLC % United States United States Solar Star Massachusetts III, LLC % United States United States Solar Star Maxx 1, LLC % United States United States Solar Star Northwestern University, LLC % United States United States Solar Star Parent CRC Kern Front, LLC % United States United States Solar Star Parent CRC Mt. Poso, LLC % United States United States Solar Star Parent CRC North Shafter, LLC % United States United States Solar Star Parent CRC Pier A West, LLC % United States United States Solar Star Parent CRC Yowlumne 1 North, LLC % United States United States Solar Star Parent CRC Yowlumne 2 South, LLC % United States United States Solar Star Prairie Holding, LLC % United States United States Solar Star Prime 2, LLC % United States United States Solar Star Prime 3, LLC % United States United States Solar Star Prime 4, LLC % United States United States Solar Star Rancho CWD I, LLC % United States United States Solar Star River, LLC % United States United States Solar Star Track, LLC % United States United States Solar Star Urbana Landfill Central, LLC % United States United States Solar Star Urbana Landfill East, LLC % United States United States Solar Star Urbana Landfill West, LLC % United States United States Solar Star Wildcats, LLC % United States United States Solar Star Woodlands St Cr, LLC % United States United States SolarBridge Technologies Inc. % United States United States Solarstar Billerica I, LLC % United States United States Solarstar Ma I, LLC % United States United States Solarstar Prime I, LLC % United States United States SolarStorage Fund A, LLC % United States United States SolarStorage Fund B, LLC % United States United States SolarStorage Fund C, LLC % United States United States Sophye Lacmort % E France France South Hook LNG Terminal Company Limited % E United Kingdom United Kingdom SPML Land Inc. % Philippines Philippines SPWR SS 1, LLC % United States United States SPWR SunStrong Holdings, LLC % United States United States SREC NE II Holdings, LLC % United States United States SREC NE II, LLC % United States United States SSCA XLI Holding Company, LLC % United States United States SunPower AssetCo, LLC % United States United States SunPower Bermuda Holdings % Bermuda Bermuda SunPower Bobcat Solar, LLC % United States United States SunPower Capital Services, LLC % United States United States SunPower Capital, LLC % United States United States SunPower Commercial FTB Construction, LLC % United States United States SunPower Commercial Holding Company FTB SLB Parent, LLC % United States United States SunPower Commercial Holding Company FTB SLB, LLC % United States United States Sunpower Commercial St Revolver, LLC % United States United States SunPower Corp Israel Limited % Israel Israel SunPower Corporation % United States United States SunPower Corporation (Switzerland) S.A.R.L. % Switzerland Switzerland SunPower Corporation Australia PTY Limited % Australia Australia SunPower Corporation Limited % Hong Kong United States SunPower Corporation Mexico, S. de R.L. de C.V. % Mexico Mexico SunPower Corporation Southern Africa (PTY) Limited % South Africa France SunPower Corporation SPA % Chile Chile SunPower Corporation UK Limited % United Kingdom United Kingdom SunPower Corporation, Systems % United States United States SunPower DevCo, LLC % United States United States SunPower Energia SPA % Chile Chile SunPower Energy Corporation Limited % Hong Kong United States SunPower Energy Solutions France S.A.S. % France France SunPower Energy Systems Canada Corporation % Canada Canada SunPower Energy Systems Korea % South Korea South Korea SunPower Energy Systems Singapore PTE Limited % Singapore Singapore SunPower Energy Systems Southern Africa (PTY) Limited % South Africa South Africa SunPower Energy Systems Spain, SL % Spain Spain SunPower Equity Holdings, LLC % United States United States SunPower Foundation % United States United States SunPower GmbH % Germany Germany SunPower Helix I, LLC % United States United States SunPower HoldCo, LLC % United States United States SunPower Italia S.R.L. % Italy Italy SunPower Japan KK % Japan Japan SunPower Malaysia Manufacturing Sdn. Bhd. % Malaysia Malaysia SunPower Malta Limited % Malta Malta SunPower Manufacturing (PTY) Limited % South Africa South Africa SunPower Manufacturing Corporation Limited % Hong Kong United States SunPower Manufacturing de Vernejoul % France France SunPower Manufacturing Oregon, LLC % United States United States SunPower Muhendislik Insaat Enerji Üretim ve Ticaret A.S % Turkey Turkey SunPower Nanao Parent, LLC % United States United States SunPower Netherlands B.V. % Netherlands Netherlands SunPower North America, LLC % United States United States SunPower NY CDG 1,LLC % United States United States SunPower Osato Parent, LLC % United States United States SunPower Philippines Limited - Regional Operating Headquarters % Cayman Islands Cayman Islands SunPower Philippines Manufacturing Limited % Cayman Islands Cayman Islands SunPower Revolver HoldCo I Parent, LLC % United States United States SunPower Revolver HoldCo I, LLC % United States United States SunPower Solar Energy Technology (Tianjin) Corporation, Limited % China United States SunPower Solar India Private Limited % India India SunPower Solar Malaysia Sdn. Bhd. % Malaysia Malaysia SunPower Systems Belgium SPRL % Belgium Belgium SunPower Systems International Limited % Hong Kong United States SunPower Systems Mexico S. de R.L. de C.V. % Mexico Mexico SunPower Systems S.A.R.L. % Switzerland Switzerland SunPower Technologies France S.A.S. % France France Sunpower Technologies, Inc. % United States United States SunPower Technology Limited % Cayman Islands Cayman Islands SunStrong Capital Acquisition 3, LLC % United States United States Sunstrong Capital Holdings, LLC % E United States United States SunStrong Partners, LLC % E United States United States Sunzil % E France France Sunzil Caraibes % E France France Sunzil Mayotte S.A.S. % E France France Sunzil Ocean Indien % E France France Sunzil Pacific % E France France Sunzil Polynesie % E France France Sunzil Polynesie Services % E France France Sunzil Services Caraibes % E France France Sunzil Services Ocean Indien % E France France Swingletree Operations, LLC % United States United States Tadiran Batteries GmbH % Germany Germany Tadiran Batteries Limited % Israel Israel Temasol % Morocco Morocco Tenesol SPV 1 % France France Tenesol Venezuela % Venezuela Venezuela Thezan Solar % France France Tianneng Saft Energy Joint Stock Company % E China China Toitures Capiscol % France France Total Carbon Neutrality Ventures Europe % France France Total Carbon Neutrality Ventures International % France France Total Direct Energie Centrale Electrique Bayet % France France Total Direct Energie centrale Electrique Marchienne au Pont % Belgium Belgium Total Direct Energie Belgium % |
Notes to the Consolidated Fin_3
Notes to the Consolidated Financial Statements (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Accounting policies | ||||
Fixed assets | $ 116,408 | $ 113,324 | $ 109,397 | $ 111,971 |
Net debt | $ (31,124) | $ (21,657) | $ (15,424) | |
Weighted average incremental borrowing rate | 4.50% | |||
Increase/decrease due to application of IFRS 16 | ||||
Accounting policies | ||||
Fixed assets | $ 5,698 | |||
Net debt | (5,505) | |||
Other assets and liabilities | (193) | |||
Right of use | 5,698 | |||
Increase/decrease due to application of IFRS 16 | Buildings | ||||
Accounting policies | ||||
Right of use | 2,278 | |||
Increase/decrease due to application of IFRS 16 | Machinery, plant and equipment | ||||
Accounting policies | ||||
Right of use | 2,632 | |||
Increase/decrease due to application of IFRS 16 | Other | ||||
Accounting policies | ||||
Right of use | $ 788 |
Changes in the Group structur_2
Changes in the Group structure - Main acquisitions and divestments (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Aug. 30, 2019 | Apr. 01, 2019 | Mar. 31, 2019 | Mar. 15, 2019 | Mar. 14, 2019 | Mar. 04, 2019 |
Toshiba LNG portfolio in the United States | |||||||
Main acquisitions and divestments | |||||||
Tolling agreement term | 20 years | ||||||
Amount received in consideration of risks of loss of portfolio | $ 815 | ||||||
Arctic LNG 2 LLC | |||||||
Main acquisitions and divestments | |||||||
Percentage of interest acquired | 10.00% | ||||||
Mozambique LNG project | |||||||
Main acquisitions and divestments | |||||||
Percentage of interest acquired | 26.50% | ||||||
Chevron Denmark Inc. | Danish Underground Consortium | |||||||
Main acquisitions and divestments | |||||||
Percentage of interest acquired | 12.00% | ||||||
Chevron Denmark Inc. | Licence 8/06 | |||||||
Main acquisitions and divestments | |||||||
Percentage of interest acquired | 12.00% | ||||||
Chevron Denmark Inc. | Tyra West pipeline | |||||||
Main acquisitions and divestments | |||||||
Percentage of interest acquired | 7.50% | ||||||
Danish Underground Consortium | |||||||
Main acquisitions and divestments | |||||||
Proportion of ownership interest in associate | 43.20% | 31.20% | |||||
Ichthys LNG project | |||||||
Main acquisitions and divestments | |||||||
Percentage of interest sold | 4.00% | ||||||
Proportion of ownership interest in joint venture | 26.00% | 30.00% |
Changes in the Group structur_3
Changes in the Group structure - Major business combinations, Anadarko Mozambique (Details) - Anadarko Mozambique - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2019 |
Major business combinations | ||
Percentage of share capital acquired | 100.00% | |
Purchase price | $ 4,426 | |
Goodwill | 136 | $ 136 |
Purchase price allocation | ||
Goodwill | 136 | $ 136 |
Intangible assets | 3,751 | |
Tangible assets | 767 | |
Other assets and liabilities | (309) | |
Acquired cash | 81 | |
Fair value of consideration | $ 4,426 | |
Mozambique LNG project | ||
Major business combinations | ||
Proportion of ownership interest in joint operation | 26.50% |
Changes in the Group structur_4
Changes in the Group structure - Divestment projects (Details) - USD ($) $ in Millions | Oct. 30, 2019 | Jul. 10, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Divestment projects | |||||
Assets classified as held for sale | $ 1,288 | $ 1,364 | $ 2,747 | ||
Liabilities directly associated with the assets classified as held for sale | 795 | $ 70 | $ 1,106 | ||
Total E&P Deep Offshore Borneo B.V. | Block CA1 | |||||
Divestment projects | |||||
Proportion of ownership interest in subsidiary | 86.95% | ||||
UK non-core assets | Signed agreement subject to regulatory approvals | |||||
Divestment projects | |||||
Consideration for divestment of assets | $ 635 | ||||
Assets classified as held for sale | 449 | ||||
Liabilities directly associated with the assets classified as held for sale | 349 | ||||
Total E&P Deep Offshore Borneo B.V. | Signed agreement subject to regulatory approvals | |||||
Divestment projects | |||||
Consideration for sale of interest in subsidiary | $ 300 | ||||
Assets classified as held for sale | 433 | ||||
Liabilities directly associated with the assets classified as held for sale | $ 180 |
Business segment information -
Business segment information - Segments (Details) | 12 Months Ended |
Dec. 31, 2019segment | |
Business segment information | |
Number of business segments | 4 |
Business segment information _2
Business segment information - Information by business segment (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Business segment information | |||
Sales | $ 200,316 | $ 209,363 | $ 171,493 |
Excise taxes | (24,067) | (25,257) | (22,394) |
Revenues from sales | 176,249 | 184,106 | 149,099 |
Operating expenses | (144,261) | (154,097) | (125,241) |
Depreciation, depletion and impairment of tangible assets and mineral interests | (15,731) | (13,992) | (16,103) |
Operating income | 16,257 | 16,017 | 7,755 |
Net income (loss) from equity affiliates and other items | 3,405 | 4,170 | 5,107 |
Tax on net operating income | (6,226) | (6,843) | (3,338) |
Net operating income | 13,436 | 13,344 | 9,524 |
Net cost of net debt | (1,998) | (1,794) | (1,225) |
Non-controlling interests | (171) | (104) | 332 |
Net income, Group share | 11,267 | 11,446 | 8,631 |
Total expenditures | 19,237 | 22,185 | 16,896 |
Total divestments | 2,060 | 7,239 | 5,264 |
Cash flow from operating activities | 24,685 | 24,703 | 22,319 |
Property, plant and equipment, intangible assets, net | 149,586 | 142,246 | 123,984 |
Investments & loans in equity affiliates | 27,122 | 23,444 | 22,103 |
Other non-current assets | 10,409 | 10,593 | 10,917 |
Working capital | (1,510) | (1,507) | 1,365 |
Provisions and other non-current liabilities | (35,972) | (36,285) | (30,549) |
Assets and liabilities classified as held for sale | 794 | 1,279 | 1,641 |
Capital Employed | 150,429 | 139,770 | 129,461 |
Intercompany | |||
Business segment information | |||
Sales | (67,328) | (69,040) | (51,710) |
Revenues from sales | (67,328) | (69,040) | (51,710) |
Operating expenses | 67,328 | 69,040 | 51,710 |
Exploration & Production | |||
Business segment information | |||
Sales | 7,261 | 9,889 | 6,527 |
Depreciation, depletion and impairment of tangible assets and mineral interests | (11,659) | (10,192) | (12,611) |
Operating income | 10,542 | 12,502 | 2,290 |
Net income (loss) from equity affiliates and other items | 610 | 1,365 | 657 |
Tax on net operating income | (4,572) | (5,770) | (1,836) |
Net operating income | 6,580 | 8,097 | 1,111 |
Total expenditures | 8,992 | 13,789 | 10,005 |
Total divestments | 368 | 3,674 | 1,793 |
Cash flow from operating activities | 16,917 | 18,537 | 10,719 |
Property, plant and equipment, intangible assets, net | 98,894 | 100,997 | 87,225 |
Investments & loans in equity affiliates | 7,631 | 6,754 | 6,954 |
Other non-current assets | 4,484 | 4,780 | 5,480 |
Working capital | 2,617 | 1,911 | 3,749 |
Provisions and other non-current liabilities | (25,208) | (25,042) | (22,372) |
Assets and liabilities classified as held for sale | 426 | 1,475 | |
Capital Employed | 88,844 | 89,400 | 82,511 |
Exploration & Production | Business segments and Corporate | |||
Business segment information | |||
Revenues from sales | 38,590 | 40,226 | 28,483 |
Operating expenses | (16,389) | (17,532) | (13,582) |
Exploration & Production | Intercompany | |||
Business segment information | |||
Sales | (31,329) | (30,337) | (21,956) |
Integrated Gas, Renewables and Power | |||
Business segment information | |||
Sales | 18,167 | 17,236 | 14,804 |
Depreciation, depletion and impairment of tangible assets and mineral interests | (1,492) | (1,827) | (1,721) |
Operating income | 1,184 | (72) | 226 |
Net income (loss) from equity affiliates and other items | 2,330 | 1,639 | 920 |
Tax on net operating income | (741) | (471) | (537) |
Net operating income | 2,773 | 1,096 | 609 |
Total expenditures | 7,053 | 5,032 | 3,594 |
Total divestments | 1,108 | 2,209 | 198 |
Cash flow from operating activities | 3,461 | 596 | 3,157 |
Property, plant and equipment, intangible assets, net | 29,597 | 24,023 | 19,287 |
Investments & loans in equity affiliates | 15,271 | 12,349 | 10,701 |
Other non-current assets | 2,993 | 3,114 | 3,204 |
Working capital | (1,192) | 420 | (403) |
Provisions and other non-current liabilities | (5,488) | (6,288) | (2,687) |
Assets and liabilities classified as held for sale | 368 | 1,128 | |
Capital Employed | 41,549 | 34,746 | 30,102 |
Integrated Gas, Renewables and Power | Business segments and Corporate | |||
Business segment information | |||
Revenues from sales | 20,992 | 19,434 | 16,483 |
Operating expenses | (18,316) | (17,679) | (14,536) |
Integrated Gas, Renewables and Power | Intercompany | |||
Business segment information | |||
Sales | (2,825) | (2,198) | (1,679) |
Refining & Chemicals | |||
Business segment information | |||
Sales | 87,598 | 92,025 | 75,505 |
Excise taxes | (3,015) | (3,359) | (3,008) |
Depreciation, depletion and impairment of tangible assets and mineral interests | (1,527) | (1,222) | (1,074) |
Operating income | 3,342 | 2,513 | 4,170 |
Net income (loss) from equity affiliates and other items | 322 | 782 | 2,979 |
Tax on net operating income | (470) | (445) | (944) |
Net operating income | 3,194 | 2,850 | 6,205 |
Total expenditures | 1,698 | 1,781 | 1,734 |
Total divestments | 322 | 919 | 2,820 |
Cash flow from operating activities | 3,837 | 4,308 | 7,411 |
Property, plant and equipment, intangible assets, net | 12,196 | 10,493 | 10,820 |
Investments & loans in equity affiliates | 3,787 | 3,910 | 4,010 |
Other non-current assets | 744 | 663 | 677 |
Working capital | 796 | 32 | 876 |
Provisions and other non-current liabilities | (3,898) | (3,615) | (3,839) |
Assets and liabilities classified as held for sale | 151 | ||
Capital Employed | 13,625 | 11,634 | 12,544 |
Refining & Chemicals | Business segments and Corporate | |||
Business segment information | |||
Revenues from sales | 116,973 | 124,128 | 99,341 |
Operating expenses | (112,104) | (120,393) | (94,097) |
Refining & Chemicals | Intercompany | |||
Business segment information | |||
Sales | (32,390) | (35,462) | (26,844) |
Marketing & Services | |||
Business segment information | |||
Sales | 87,280 | 90,206 | 74,634 |
Excise taxes | (21,052) | (21,898) | (19,386) |
Depreciation, depletion and impairment of tangible assets and mineral interests | (980) | (709) | (657) |
Operating income | 2,052 | 1,841 | 1,819 |
Net income (loss) from equity affiliates and other items | 101 | 307 | 497 |
Tax on net operating income | (598) | (532) | (561) |
Net operating income | 1,555 | 1,616 | 1,755 |
Total expenditures | 1,374 | 1,458 | 1,457 |
Total divestments | 249 | 428 | 413 |
Cash flow from operating activities | 2,604 | 2,759 | 2,221 |
Property, plant and equipment, intangible assets, net | 8,316 | 6,343 | 6,253 |
Investments & loans in equity affiliates | 433 | 431 | 438 |
Other non-current assets | 1,179 | 1,155 | 1,060 |
Working capital | 178 | 194 | 792 |
Provisions and other non-current liabilities | (1,531) | (1,465) | (1,544) |
Assets and liabilities classified as held for sale | 166 | ||
Capital Employed | 8,575 | 6,658 | 7,165 |
Marketing & Services | Business segments and Corporate | |||
Business segment information | |||
Revenues from sales | 66,887 | 69,287 | 56,105 |
Operating expenses | (63,855) | (66,737) | (53,629) |
Marketing & Services | Intercompany | |||
Business segment information | |||
Sales | (659) | (979) | (857) |
Corporate | |||
Business segment information | |||
Sales | 10 | 7 | 23 |
Depreciation, depletion and impairment of tangible assets and mineral interests | (73) | (42) | (40) |
Operating income | (863) | (767) | (750) |
Net income (loss) from equity affiliates and other items | 42 | 77 | 54 |
Tax on net operating income | 155 | 375 | 540 |
Net operating income | (666) | (315) | (156) |
Total expenditures | 120 | 125 | 106 |
Total divestments | 13 | 9 | 40 |
Cash flow from operating activities | (2,134) | (1,497) | (1,189) |
Property, plant and equipment, intangible assets, net | 583 | 390 | 399 |
Other non-current assets | 1,009 | 881 | 496 |
Working capital | (3,909) | (4,064) | (3,650) |
Provisions and other non-current liabilities | 153 | 125 | (106) |
Capital Employed | (2,164) | (2,668) | (2,861) |
Corporate | Business segments and Corporate | |||
Business segment information | |||
Revenues from sales | 135 | 71 | 397 |
Operating expenses | (925) | (796) | (1,107) |
Corporate | Intercompany | |||
Business segment information | |||
Sales | (125) | (64) | (374) |
Adjustments | |||
Business segment information | |||
Sales | (64) | 56 | (20) |
Revenues from sales | (64) | 56 | (20) |
Operating expenses | (140) | (1,106) | (416) |
Depreciation, depletion and impairment of tangible assets and mineral interests | (920) | (1,774) | (4,662) |
Operating income | (1,124) | (2,824) | (5,098) |
Net income (loss) from equity affiliates and other items | 696 | (496) | 1,835 |
Tax on net operating income | (209) | 973 | 829 |
Net operating income | (637) | (2,347) | (2,434) |
Net cost of net debt | (15) | (67) | (29) |
Non-controlling interests | 91 | 301 | 516 |
Net income, Group share | (561) | (2,113) | (1,947) |
Adjustments | Exploration & Production | |||
Business segment information | |||
Depreciation, depletion and impairment of tangible assets and mineral interests | (721) | (707) | (3,799) |
Operating income | (866) | (906) | (3,918) |
Net income (loss) from equity affiliates and other items | (112) | (128) | (201) |
Tax on net operating income | 49 | 584 | 689 |
Net operating income | (929) | (450) | (3,430) |
Net income, Group share | (940) | (507) | (3,243) |
Adjustments | Exploration & Production | Business segments and Corporate | |||
Business segment information | |||
Operating expenses | (145) | (199) | (119) |
Adjustments | Integrated Gas, Renewables and Power | |||
Business segment information | |||
Sales | (64) | 56 | (20) |
Depreciation, depletion and impairment of tangible assets and mineral interests | (156) | (1,065) | (800) |
Operating income | (460) | (1,246) | (1,209) |
Net income (loss) from equity affiliates and other items | 974 | (247) | (243) |
Tax on net operating income | (130) | 170 | 132 |
Net operating income | 384 | (1,323) | (1,320) |
Net income, Group share | 481 | (982) | (1,008) |
Adjustments | Integrated Gas, Renewables and Power | Business segments and Corporate | |||
Business segment information | |||
Revenues from sales | (64) | 56 | (20) |
Operating expenses | (240) | (237) | (389) |
Adjustments | Refining & Chemicals | |||
Business segment information | |||
Depreciation, depletion and impairment of tangible assets and mineral interests | (41) | (2) | (53) |
Operating income | 356 | (618) | 114 |
Net income (loss) from equity affiliates and other items | (83) | (116) | 2,177 |
Tax on net operating income | (82) | 205 | 124 |
Net operating income | 191 | (529) | 2,415 |
Net income, Group share | 189 | (530) | 2,412 |
Adjustments | Refining & Chemicals | Business segments and Corporate | |||
Business segment information | |||
Operating expenses | 397 | (616) | 167 |
Adjustments | Marketing & Services | |||
Business segment information | |||
Depreciation, depletion and impairment of tangible assets and mineral interests | (2) | (10) | |
Operating income | (42) | (45) | (21) |
Net income (loss) from equity affiliates and other items | (83) | (5) | 102 |
Tax on net operating income | 27 | 14 | (2) |
Net operating income | (98) | (36) | 79 |
Net income, Group share | (106) | (53) | 70 |
Adjustments | Marketing & Services | Business segments and Corporate | |||
Business segment information | |||
Operating expenses | (40) | (45) | (11) |
Adjustments | Corporate | |||
Business segment information | |||
Operating income | (112) | (9) | (64) |
Tax on net operating income | (73) | (114) | |
Net operating income | (185) | (9) | (178) |
Net income, Group share | (185) | (41) | (178) |
Adjustments | Corporate | Business segments and Corporate | |||
Business segment information | |||
Operating expenses | (112) | (9) | (64) |
Adjustments - Inventory valuation effect | |||
Business segment information | |||
Operating income | 446 | (595) | 357 |
Net income, Group share | 346 | (420) | 282 |
Capital Employed | (1,601) | (1,251) | (1,734) |
Adjustments - Inventory valuation effect | Refining & Chemicals | |||
Business segment information | |||
Operating income | 477 | (589) | 344 |
Net operating income | 371 | (413) | 298 |
Net income, Group share | 369 | (414) | 295 |
Capital Employed | (1,397) | (1,035) | (1,499) |
Adjustments - Inventory valuation effect | Marketing & Services | |||
Business segment information | |||
Operating income | (31) | (6) | 13 |
Net operating income | (14) | (5) | (3) |
Net income, Group share | (23) | (6) | (13) |
Capital Employed | (204) | (216) | (236) |
Adjustments - Inventory valuation effect | Corporate | |||
Business segment information | |||
Capital Employed | 1 | ||
Adjusted | |||
Business segment information | |||
Sales | 200,380 | 209,307 | 171,513 |
Excise taxes | (24,067) | (25,257) | (22,394) |
Revenues from sales | 176,313 | 184,050 | 149,119 |
Operating expenses | (144,121) | (152,991) | (124,825) |
Depreciation, depletion and impairment of tangible assets and mineral interests | (14,811) | (12,218) | (11,441) |
Operating income | 17,381 | 18,841 | 12,853 |
Net income (loss) from equity affiliates and other items | 2,709 | 4,666 | 3,272 |
Tax on net operating income | (6,017) | (7,816) | (4,167) |
Net operating income | 14,073 | 15,691 | 11,958 |
Net cost of net debt | (1,983) | (1,727) | (1,196) |
Non-controlling interests | (262) | (405) | (184) |
Net income, Group share | 11,828 | 13,559 | 10,578 |
Capital Employed | $ 148,828 | $ 138,519 | $ 127,727 |
ROACE as a percentage | 10.00% | 12.00% | 9.00% |
Adjusted | Intercompany | |||
Business segment information | |||
Sales | $ (67,328) | $ (69,040) | $ (51,710) |
Revenues from sales | (67,328) | (69,040) | (51,710) |
Operating expenses | 67,328 | 69,040 | 51,710 |
Adjusted | Exploration & Production | |||
Business segment information | |||
Sales | 7,261 | 9,889 | 6,527 |
Depreciation, depletion and impairment of tangible assets and mineral interests | (10,938) | (9,485) | (8,812) |
Operating income | 11,408 | 13,408 | 6,208 |
Net income (loss) from equity affiliates and other items | 722 | 1,493 | 858 |
Tax on net operating income | (4,621) | (6,354) | (2,525) |
Net operating income | 7,509 | 8,547 | 4,541 |
Capital Employed | $ 88,844 | $ 89,400 | $ 82,511 |
ROACE as a percentage | 8.00% | 10.00% | 5.00% |
Adjusted | Exploration & Production | Business segments and Corporate | |||
Business segment information | |||
Revenues from sales | $ 38,590 | $ 40,226 | $ 28,483 |
Operating expenses | (16,244) | (17,333) | (13,463) |
Adjusted | Exploration & Production | Intercompany | |||
Business segment information | |||
Sales | (31,329) | (30,337) | (21,956) |
Adjusted | Integrated Gas, Renewables and Power | |||
Business segment information | |||
Sales | 18,231 | 17,180 | 14,824 |
Depreciation, depletion and impairment of tangible assets and mineral interests | (1,336) | (762) | (921) |
Operating income | 1,644 | 1,174 | 1,435 |
Net income (loss) from equity affiliates and other items | 1,356 | 1,886 | 1,163 |
Tax on net operating income | (611) | (641) | (669) |
Net operating income | 2,389 | 2,419 | 1,929 |
Capital Employed | $ 41,549 | $ 34,746 | $ 30,102 |
ROACE as a percentage | 6.00% | 7.00% | 7.00% |
Adjusted | Integrated Gas, Renewables and Power | Business segments and Corporate | |||
Business segment information | |||
Revenues from sales | $ 21,056 | $ 19,378 | $ 16,503 |
Operating expenses | (18,076) | (17,442) | (14,147) |
Adjusted | Integrated Gas, Renewables and Power | Intercompany | |||
Business segment information | |||
Sales | (2,825) | (2,198) | (1,679) |
Adjusted | Refining & Chemicals | |||
Business segment information | |||
Sales | 87,598 | 92,025 | 75,505 |
Excise taxes | (3,015) | (3,359) | (3,008) |
Depreciation, depletion and impairment of tangible assets and mineral interests | (1,486) | (1,220) | (1,021) |
Operating income | 2,986 | 3,131 | 4,056 |
Net income (loss) from equity affiliates and other items | 405 | 898 | 802 |
Tax on net operating income | (388) | (650) | (1,068) |
Net operating income | 3,003 | 3,379 | 3,790 |
Capital Employed | $ 12,228 | $ 10,599 | $ 11,045 |
ROACE as a percentage | 26.00% | 31.00% | 33.00% |
Adjusted | Refining & Chemicals | Business segments and Corporate | |||
Business segment information | |||
Revenues from sales | $ 116,973 | $ 124,128 | $ 99,341 |
Operating expenses | (112,501) | (119,777) | (94,264) |
Adjusted | Refining & Chemicals | Intercompany | |||
Business segment information | |||
Sales | (32,390) | (35,462) | (26,844) |
Adjusted | Marketing & Services | |||
Business segment information | |||
Sales | 87,280 | 90,206 | 74,634 |
Excise taxes | (21,052) | (21,898) | (19,386) |
Depreciation, depletion and impairment of tangible assets and mineral interests | (978) | (709) | (647) |
Operating income | 2,094 | 1,886 | 1,840 |
Net income (loss) from equity affiliates and other items | 184 | 312 | 395 |
Tax on net operating income | (625) | (546) | (559) |
Net operating income | 1,653 | 1,652 | 1,676 |
Capital Employed | $ 8,371 | $ 6,442 | $ 6,929 |
ROACE as a percentage | 22.00% | 25.00% | 26.00% |
Adjusted | Marketing & Services | Business segments and Corporate | |||
Business segment information | |||
Revenues from sales | $ 66,887 | $ 69,287 | $ 56,105 |
Operating expenses | (63,815) | (66,692) | (53,618) |
Adjusted | Marketing & Services | Intercompany | |||
Business segment information | |||
Sales | (659) | (979) | (857) |
Adjusted | Corporate | |||
Business segment information | |||
Sales | 10 | 7 | 23 |
Depreciation, depletion and impairment of tangible assets and mineral interests | (73) | (42) | (40) |
Operating income | (751) | (758) | (686) |
Net income (loss) from equity affiliates and other items | 42 | 77 | 54 |
Tax on net operating income | 228 | 375 | 654 |
Net operating income | (481) | (306) | 22 |
Capital Employed | (2,164) | (2,668) | (2,860) |
Adjusted | Corporate | Business segments and Corporate | |||
Business segment information | |||
Revenues from sales | 135 | 71 | 397 |
Operating expenses | (813) | (787) | (1,043) |
Adjusted | Corporate | Intercompany | |||
Business segment information | |||
Sales | $ (125) | $ (64) | $ (374) |
Business segment information _3
Business segment information - Reconciliation with consolidated financial statements (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Business segment information | |||
Sales | $ 200,316 | $ 209,363 | $ 171,493 |
Excise taxes | (24,067) | (25,257) | (22,394) |
Revenues from sales | 176,249 | 184,106 | 149,099 |
Purchases, net of inventory variation | (116,221) | (125,816) | (99,411) |
Other operating expenses | (27,255) | (27,484) | (24,966) |
Exploration costs | (785) | (797) | (864) |
Depreciation, depletion and impairment of tangible assets and mineral interests | (15,731) | (13,992) | (16,103) |
Other income | 1,163 | 1,838 | 3,811 |
Other expense | (1,192) | (1,273) | (1,034) |
Financial interest on debt | (2,333) | (1,933) | (1,396) |
Financial income and expense from cash & cash equivalents | (19) | (188) | (138) |
Cost of net debt | (2,352) | (2,121) | (1,534) |
Other financial income | 792 | 1,120 | 957 |
Other financial expense | (764) | (685) | (642) |
Net income (loss) from equity affiliates | 3,406 | 3,170 | 2,015 |
Income taxes | (5,872) | (6,516) | (3,029) |
Consolidated net income | 11,438 | 11,550 | 8,299 |
Group share | 11,267 | 11,446 | 8,631 |
Non-controlling interests | 171 | 104 | (332) |
Adjusted | |||
Business segment information | |||
Sales | 200,380 | 209,307 | 171,513 |
Excise taxes | (24,067) | (25,257) | (22,394) |
Revenues from sales | 176,313 | 184,050 | 149,119 |
Purchases, net of inventory variation | (116,464) | (125,134) | (99,534) |
Other operating expenses | (26,872) | (27,060) | (24,427) |
Exploration costs | (785) | (797) | (864) |
Depreciation, depletion and impairment of tangible assets and mineral interests | (14,811) | (12,218) | (11,441) |
Other income | 876 | 1,518 | 772 |
Other expense | (455) | (448) | (389) |
Financial interest on debt | (2,318) | (1,866) | (1,367) |
Financial income and expense from cash & cash equivalents | (19) | (188) | (138) |
Cost of net debt | (2,337) | (2,054) | (1,505) |
Other financial income | 792 | 1,120 | 957 |
Other financial expense | (764) | (685) | (642) |
Net income (loss) from equity affiliates | 2,260 | 3,161 | 2,574 |
Income taxes | (5,663) | (7,489) | (3,858) |
Consolidated net income | 12,090 | 13,964 | 10,762 |
Group share | 11,828 | 13,559 | 10,578 |
Non-controlling interests | 262 | 405 | 184 |
Adjustments | |||
Business segment information | |||
Sales | (64) | 56 | (20) |
Revenues from sales | (64) | 56 | (20) |
Purchases, net of inventory variation | 243 | (682) | 123 |
Other operating expenses | (383) | (424) | (539) |
Depreciation, depletion and impairment of tangible assets and mineral interests | (920) | (1,774) | (4,662) |
Other income | 287 | 320 | 3,039 |
Other expense | (737) | (825) | (645) |
Financial interest on debt | (15) | (67) | (29) |
Cost of net debt | (15) | (67) | (29) |
Net income (loss) from equity affiliates | 1,146 | 9 | (559) |
Income taxes | (209) | 973 | 829 |
Consolidated net income | (652) | (2,414) | (2,463) |
Group share | (561) | (2,113) | (1,947) |
Non-controlling interests | $ (91) | $ (301) | $ (516) |
Business segment information _4
Business segment information - Adjustment items (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Business segment information | |||
Operating income | $ 16,257 | $ 16,017 | $ 7,755 |
Net income, Group share | 11,267 | 11,446 | 8,631 |
Adjustments | |||
Business segment information | |||
Operating income | (1,124) | (2,824) | (5,098) |
Net income, Group share | (561) | (2,113) | (1,947) |
Adjustments - Inventory valuation effect | |||
Business segment information | |||
Operating income | 446 | (595) | 357 |
Net income, Group share | 346 | (420) | 282 |
Adjustments - Effect of changes in fair value | |||
Business segment information | |||
Operating income | (19) | 48 | (20) |
Net income, Group share | (15) | 38 | (16) |
Adjustments - Restructuring charges | |||
Business segment information | |||
Operating income | (4) | (70) | (49) |
Net income, Group share | (58) | (138) | (66) |
Adjustments - Asset impairment charges | |||
Business segment information | |||
Operating income | (920) | (1,774) | (4,662) |
Net income, Group share | (465) | (1,595) | (3,884) |
Adjustments - Gains (losses) on disposals of assets | |||
Business segment information | |||
Net income, Group share | (16) | 2,452 | |
Adjustments - Other items | |||
Business segment information | |||
Operating income | (627) | (433) | (724) |
Net income, Group share | (369) | 18 | (715) |
Exploration & Production | |||
Business segment information | |||
Operating income | 10,542 | 12,502 | 2,290 |
Exploration & Production | Adjustments | |||
Business segment information | |||
Operating income | (866) | (906) | (3,918) |
Net income, Group share | (940) | (507) | (3,243) |
Exploration & Production | Adjustments - Restructuring charges | |||
Business segment information | |||
Operating income | (67) | (42) | |
Net income, Group share | (5) | (94) | (11) |
Exploration & Production | Adjustments - Asset impairment charges | |||
Business segment information | |||
Operating income | (721) | (707) | (3,799) |
Net income, Group share | (530) | (651) | (3,202) |
Exploration & Production | Adjustments - Gains (losses) on disposals of assets | |||
Business segment information | |||
Net income, Group share | (14) | 188 | |
Exploration & Production | Adjustments - Other items | |||
Business segment information | |||
Operating income | (145) | (132) | (77) |
Net income, Group share | (405) | 252 | (218) |
Integrated Gas, Renewables and Power | |||
Business segment information | |||
Operating income | 1,184 | (72) | 226 |
Integrated Gas, Renewables and Power | Adjustments | |||
Business segment information | |||
Operating income | (460) | (1,246) | (1,209) |
Net income, Group share | 481 | (982) | (1,008) |
Integrated Gas, Renewables and Power | Adjustments - Effect of changes in fair value | |||
Business segment information | |||
Operating income | (19) | 48 | (20) |
Net income, Group share | (15) | 38 | (16) |
Integrated Gas, Renewables and Power | Adjustments - Restructuring charges | |||
Business segment information | |||
Operating income | (4) | ||
Net income, Group share | (31) | (10) | (11) |
Integrated Gas, Renewables and Power | Adjustments - Asset impairment charges | |||
Business segment information | |||
Operating income | (156) | (1,065) | (800) |
Net income, Group share | 105 | (896) | (619) |
Integrated Gas, Renewables and Power | Adjustments - Gains (losses) on disposals of assets | |||
Business segment information | |||
Net income, Group share | (2) | ||
Integrated Gas, Renewables and Power | Adjustments - Other items | |||
Business segment information | |||
Operating income | (281) | (229) | (389) |
Net income, Group share | 422 | (112) | (362) |
Refining & Chemicals | |||
Business segment information | |||
Operating income | 3,342 | 2,513 | 4,170 |
Refining & Chemicals | Adjustments | |||
Business segment information | |||
Operating income | 356 | (618) | 114 |
Net income, Group share | 189 | (530) | 2,412 |
Refining & Chemicals | Adjustments - Inventory valuation effect | |||
Business segment information | |||
Operating income | 477 | (589) | 344 |
Net income, Group share | 369 | (414) | 295 |
Refining & Chemicals | Adjustments - Restructuring charges | |||
Business segment information | |||
Operating income | (3) | (4) | |
Net income, Group share | (22) | (34) | (42) |
Refining & Chemicals | Adjustments - Asset impairment charges | |||
Business segment information | |||
Operating income | (41) | (2) | (53) |
Net income, Group share | (39) | (48) | (53) |
Refining & Chemicals | Adjustments - Gains (losses) on disposals of assets | |||
Business segment information | |||
Net income, Group share | 2,139 | ||
Refining & Chemicals | Adjustments - Other items | |||
Business segment information | |||
Operating income | (80) | (24) | (173) |
Net income, Group share | (119) | (34) | 73 |
Marketing & Services | |||
Business segment information | |||
Operating income | 2,052 | 1,841 | 1,819 |
Marketing & Services | Adjustments | |||
Business segment information | |||
Operating income | (42) | (45) | (21) |
Net income, Group share | (106) | (53) | 70 |
Marketing & Services | Adjustments - Inventory valuation effect | |||
Business segment information | |||
Operating income | (31) | (6) | 13 |
Net income, Group share | (23) | (6) | (13) |
Marketing & Services | Adjustments - Restructuring charges | |||
Business segment information | |||
Operating income | (3) | ||
Net income, Group share | (2) | ||
Marketing & Services | Adjustments - Asset impairment charges | |||
Business segment information | |||
Operating income | (2) | (10) | |
Net income, Group share | (1) | (10) | |
Marketing & Services | Adjustments - Gains (losses) on disposals of assets | |||
Business segment information | |||
Net income, Group share | 125 | ||
Marketing & Services | Adjustments - Other items | |||
Business segment information | |||
Operating income | (9) | (39) | (21) |
Net income, Group share | (82) | (47) | (30) |
Corporate | |||
Business segment information | |||
Operating income | (863) | (767) | (750) |
Corporate | Adjustments | |||
Business segment information | |||
Operating income | (112) | (9) | (64) |
Net income, Group share | (185) | (41) | (178) |
Corporate | Adjustments - Other items | |||
Business segment information | |||
Operating income | (112) | (9) | (64) |
Net income, Group share | $ (185) | $ (41) | $ (178) |
Business segment information _5
Business segment information - Asset impairment (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019USD ($)$ / MMBTU$ / bbl | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Asset impairment | |||
Asset impairments recorded in operating income | $ (920) | $ (1,774) | $ (4,662) |
Asset impairments recorded in net income, Group share | $ (465) | $ (1,595) | $ (3,884) |
Period of global energy demand used in determining oil and gas price assumptions | 20 years | ||
Post-tax discount rate (as a percent) | 7.00% | 7.00% | 7.00% |
Low | |||
Asset impairment | |||
Pre-tax discount rate (as a percent) | 7.00% | ||
High | |||
Asset impairment | |||
Pre-tax discount rate (as a percent) | 14.00% | ||
Oil assets | |||
Asset impairment | |||
Commodity price assumption for 2019 (in 2018 constant dollars per barrel or million BTU) | $ / bbl | 64 | ||
Commodity price assumption for 2025 (in 2018 constant dollars per barrel or million BTU) | $ / bbl | 70 | ||
Commodity price assumption, long-term (in 2018 constant dollars per barrel or million BTU) | $ / bbl | 50 | ||
Gas assets | Europe | |||
Asset impairment | |||
Commodity price assumption, long-term (in 2018 constant dollars per barrel or million BTU) | $ / MMBTU | 6 | ||
Gas assets | United States | |||
Asset impairment | |||
Commodity price assumption, long-term (in 2018 constant dollars per barrel or million BTU) | $ / MMBTU | 2.6 | ||
Exploration & Production | |||
Asset impairment | |||
Asset impairments recorded in operating income | $ (721) | ||
Asset impairments recorded in net income, Group share | $ (530) | ||
Exploration & Production | Discount rate | |||
Asset impairment | |||
Reasonably possible decrease in key assumption (as a percent) | 1.00% | ||
Impact on operating income from decrease in key assumption | $ 0 | ||
Impact on net income, Group share, from decrease in key assumption | $ 0 | ||
Reasonably possible increase in assumption (as a percent) | 1.00% | ||
Impact on operating income from increase in key assumption | $ (900) | ||
Impact on net income, Group share, from increase in key assumption | $ (900) | ||
Exploration & Production | Oil and gas prices | |||
Asset impairment | |||
Reasonably possible decrease in key assumption (as a percent) | 10.00% | ||
Impact on operating income from decrease in key assumption | $ (2,000) | ||
Impact on net income, Group share, from decrease in key assumption | (1,600) | ||
Exploration & Production | Assets already impaired in Canada and Congo | Oil and gas prices | |||
Asset impairment | |||
Impact on operating income from decrease in key assumption | (1,400) | ||
Impact on net income, Group share, from decrease in key assumption | (800) | ||
Integrated Gas, Renewables and Power | |||
Asset impairment | |||
Asset impairments recorded in operating income | (156) | ||
Asset impairments recorded in net income, Group share | $ 105 | ||
Integrated Gas, Renewables and Power | Discount rate | |||
Asset impairment | |||
Reasonably possible decrease in key assumption (as a percent) | 1.00% | ||
Impact on operating income from decrease in key assumption | $ 100 | ||
Impact on net income, Group share, from decrease in key assumption | $ 100 | ||
Reasonably possible increase in assumption (as a percent) | 1.00% | ||
Impact on operating income from increase in key assumption | $ (900) | ||
Impact on net income, Group share, from increase in key assumption | $ (900) | ||
Integrated Gas, Renewables and Power | Oil and gas prices | |||
Asset impairment | |||
Reasonably possible decrease in key assumption (as a percent) | 10.00% | ||
Impact on operating income from decrease in key assumption | $ (1,100) | ||
Impact on net income, Group share, from decrease in key assumption | (1,000) | ||
Integrated Gas, Renewables and Power | Assets already impaired in Ichthys in Australia | Oil and gas prices | |||
Asset impairment | |||
Impact on operating income from decrease in key assumption | (1,100) | ||
Impact on net income, Group share, from decrease in key assumption | (1,000) | ||
Refining & Chemicals | |||
Asset impairment | |||
Asset impairments recorded in operating income | 0 | ||
Asset impairments recorded in net income, Group share | 0 | ||
Marketing & Services | |||
Asset impairment | |||
Asset impairments recorded in operating income | 0 | ||
Asset impairments recorded in net income, Group share | $ 0 |
Segment Information by geogra_3
Segment Information by geographical area (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Segment information by geographical area | |||
Non-Group sales | $ 200,316 | $ 209,363 | $ 171,493 |
Property, plant and equipment, intangible assets, net | 149,586 | 142,246 | 123,984 |
Capital expenditures | 19,237 | 22,185 | 16,896 |
France | |||
Segment information by geographical area | |||
Non-Group sales | 43,877 | 47,716 | 39,032 |
Property, plant and equipment, intangible assets, net | 13,212 | 12,561 | 6,397 |
Capital expenditures | 1,979 | 4,502 | 1,193 |
Rest of Europe | |||
Segment information by geographical area | |||
Non-Group sales | 99,176 | 99,465 | 83,255 |
Property, plant and equipment, intangible assets, net | 28,765 | 25,262 | 18,260 |
Capital expenditures | 3,201 | 2,609 | 2,805 |
North America | |||
Segment information by geographical area | |||
Non-Group sales | 19,946 | 22,243 | 16,889 |
Property, plant and equipment, intangible assets, net | 18,916 | 18,903 | 18,469 |
Capital expenditures | 1,748 | 2,014 | 2,916 |
Africa | |||
Segment information by geographical area | |||
Non-Group sales | 21,303 | 22,263 | 17,581 |
Property, plant and equipment, intangible assets, net | 45,573 | 43,359 | 42,849 |
Capital expenditures | 7,663 | 4,838 | 5,030 |
Rest of the world | |||
Segment information by geographical area | |||
Non-Group sales | 16,014 | 17,676 | 14,736 |
Property, plant and equipment, intangible assets, net | 43,120 | 42,161 | 38,009 |
Capital expenditures | $ 4,646 | $ 8,222 | $ 4,952 |
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, 2019USD ($)employee | Dec. 31, 2018USD ($)employee | Dec. 31, 2017USD ($)employee | |
Main items related to operating activities | |||
Purchases, net of inventory variation | $ (116,221) | $ (125,816) | $ (99,411) |
Exploration costs | (785) | (797) | (864) |
Other operating expenses | (27,255) | (27,484) | (24,966) |
Other operating expenses, Non-current operating liabilities (allowances) reversals | 1,152 | 1,068 | 280 |
Other operating expenses, Current operating liabilities (allowances) reversals | (157) | (202) | 66 |
Operating expenses | (144,261) | (154,097) | (125,241) |
Research and development costs | $ 968 | $ 986 | $ 912 |
Research and development costs as a percentage of sales | 0.48% | ||
Number of staff dedicated to research and development activities | employee | 4,339 | 4,288 | 4,132 |
Main items related to operati_4
Main items related to operating activities - Amortization, depreciation and impairment (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Main items related to operating activities | |||
Amortization, depreciation and impairment of tangible assets and mineral interests | $ (15,731) | $ (13,992) | $ (16,103) |
Tangible assets | |||
Main items related to operating activities | |||
Amortization, depreciation and impairment of tangible assets and mineral interests | (14,640) | (13,364) | (14,782) |
Mineral assets | |||
Main items related to operating activities | |||
Amortization, depreciation and impairment of tangible assets and mineral interests | $ (1,091) | $ (628) | $ (1,321) |
Main items related to operati_5
Main items related to operating activities - Inventories, Components (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Inventories | ||||
Crude oil and natural gas | $ 2,367 | $ 2,272 | $ 2,658 | |
Refined products | 5,281 | 5,222 | 5,792 | |
Chemicals products | 1,357 | 1,033 | 1,031 | |
Trading inventories | 5,500 | 3,918 | 4,320 | |
Other inventories | 2,627 | 2,435 | 2,719 | |
Total | 17,132 | 14,880 | 16,520 | |
Gross value/Cost | ||||
Inventories | ||||
Crude oil and natural gas | 2,381 | 2,382 | 2,658 | |
Refined products | 5,326 | 5,464 | 5,828 | |
Chemicals products | 1,448 | 1,087 | 1,089 | |
Trading inventories | 5,500 | 3,918 | 4,320 | |
Other inventories | 3,651 | 3,372 | 3,632 | |
Total | 18,306 | 16,223 | 17,527 | |
Valuation allowance/Cumulative impairments | ||||
Inventories | ||||
Crude oil and natural gas | (14) | (110) | ||
Refined products | (45) | (242) | (36) | |
Chemicals products | (91) | (54) | (58) | |
Other inventories | (1,024) | (937) | (913) | |
Total | $ (1,174) | $ (1,343) | $ (1,007) | $ (971) |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Changes in the valuation allowance on inventories | |||
Balance as of the beginning of the period | $ 14,880 | $ 16,520 | |
Balance as of the end of the period | 17,132 | 14,880 | $ 16,520 |
Valuation allowance/Cumulative impairments | |||
Changes in the valuation allowance on inventories | |||
Balance as of the beginning of the period | (1,343) | (1,007) | (971) |
Increase (net) | 205 | (359) | 9 |
Currency translation adjustment and other variations | (36) | 23 | (45) |
Balance as of the end of the period | $ (1,174) | $ (1,343) | $ (1,007) |
Main items related to operati_7
Main items related to operating activities - Accounts receivable and other current assets (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Main items related to operating activities | |||
Accounts receivable | $ 18,488 | $ 17,270 | $ 14,893 |
Recoverable taxes | 4,114 | 4,090 | 4,029 |
Other operating receivables | 11,506 | 9,733 | 9,336 |
Prepaid expenses | 1,336 | 837 | 786 |
Other current assets | 57 | 64 | 59 |
Other current assets | 17,013 | 14,724 | 14,210 |
Gross value/Cost | |||
Main items related to operating activities | |||
Accounts receivable | 19,162 | 17,894 | 15,469 |
Recoverable taxes | 4,209 | 4,090 | 4,029 |
Other operating receivables | 11,746 | 10,306 | 9,797 |
Prepaid expenses | 1,336 | 837 | 786 |
Other current assets | 57 | 64 | 59 |
Other current assets | 17,348 | 15,297 | 14,671 |
Valuation allowance/Cumulative impairments | |||
Main items related to operating activities | |||
Accounts receivable | (674) | (624) | (576) |
Recoverable taxes | (95) | ||
Other operating receivables | (240) | (573) | (461) |
Other current assets | $ (335) | $ (573) | $ (461) |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Main items related to operating activities | |||
Overdue receivables | $ 3,760 | $ 3,767 | $ 3,156 |
Due in less than 90 days | |||
Main items related to operating activities | |||
Overdue receivables | 2,089 | 1,993 | 1,682 |
Due between 90 days and 6 months | |||
Main items related to operating activities | |||
Overdue receivables | 357 | 273 | 235 |
Due between 6 and 12 months | |||
Main items related to operating activities | |||
Overdue receivables | 402 | 450 | 350 |
Due after 12 months | |||
Main items related to operating activities | |||
Overdue receivables | 912 | 1,051 | 889 |
Accounts receivable, net | |||
Changes in the valuation allowance on "Accounts receivable" and "Other current assets" | |||
Valuation allowance as of the beginning of the period | (624) | (576) | (596) |
Increase (net) | (89) | (62) | 53 |
Currency translation adjustments and other variations | 39 | 14 | (33) |
Valuation allowance as of the end of the period | (674) | (624) | (576) |
Other current assets | |||
Changes in the valuation allowance on "Accounts receivable" and "Other current assets" | |||
Valuation allowance as of the beginning of the period | (573) | (461) | (400) |
Increase (net) | (46) | (148) | (58) |
Currency translation adjustments and other variations | 284 | 36 | (3) |
Valuation allowance as of the end of the period | $ (335) | $ (573) | $ (461) |
Main items related to operati_9
Main items related to operating activities - Other creditors and accrued liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Other creditors and accrued liabilities | |||
Accruals and deferred income | $ 522 | $ 546 | $ 419 |
Payable to States (including taxes and duties) | 7,438 | 6,861 | 5,786 |
Payroll | 1,527 | 1,553 | 1,439 |
Other operating liabilities | 16,262 | 13,286 | 10,135 |
Other creditors and accrued liabilities | 25,749 | 22,246 | 17,779 |
Interim dividend payable, second quarter | 1,918 | 1,911 | 1,883 |
Interim dividend payable, third quarter | $ 2,038 | $ 1,912 | $ 1,912 |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Detail of interest, taxes and dividends | |||
Interests paid | $ (2,181) | $ (1,818) | $ (1,305) |
Interests received | 210 | 164 | 82 |
Income tax paid | (5,293) | (5,024) | (4,013) |
Dividends received | 1,988 | 2,456 | 2,219 |
Detail of changes in working capital | |||
Inventories | (2,071) | 1,430 | (476) |
Accounts receivable | (933) | (1,461) | (1,897) |
Other current assets | (2,001) | (364) | 1,274 |
Accounts payable | 1,998 | (822) | 2,339 |
Other creditors and accrued liabilities | 1,289 | 1,986 | (413) |
Net amount, Decrease (Increase) | (1,718) | 769 | 827 |
Detail of changes in provisions and deferred taxes | |||
Accruals | 403 | (432) | 3 |
Deferred taxes | (461) | (455) | (387) |
Total | $ (58) | $ (887) | $ (384) |
Other items from operating ac_3
Other items from operating activities - Other income and other expense (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Other items from operating activities | |||
Gains on disposal of assets | $ 670 | $ 1,041 | $ 2,784 |
Foreign exchange gains | 238 | 252 | 785 |
Other | 255 | 545 | 242 |
Other income | 1,163 | 1,838 | 3,811 |
Losses on disposals of assets | (56) | (111) | (186) |
Foreign exchange losses | (463) | (444) | |
Amortisation of other intangible assets (excl. mineral interests) | (266) | (225) | (192) |
Other | (407) | (493) | (656) |
Other expense | (1,192) | (1,273) | (1,034) |
Restructuring charges | 96 | 179 | 64 |
Revaluation of non-consolidated shares at fair value | $ 94 | ||
Impairment of non-consolidated shares and loans granted to non-consolidated subsidiaries and equity affiliates | $ 77 | $ 172 | |
Gina Krog field in Norway | |||
Other items from operating activities | |||
Percentage of interest in joint operation sold | 15.00% |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Other items from operating activities | |||
Dividend income on non-consolidated subsidiaries | $ 178 | $ 171 | $ 167 |
Capitalized financial expenses | 227 | 519 | 460 |
Other | 387 | 430 | 330 |
Other financial income | 792 | 1,120 | 957 |
Accretion of asset retirement obligations | (639) | (530) | (544) |
Other | (125) | (155) | (98) |
Other financial expense | $ (764) | $ (685) | $ (642) |
Other items from operating ac_5
Other items from operating activities - Other non-current assets (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Other non-current assets | |||
Loans and advances | $ 1,982 | $ 1,877 | $ 2,878 |
Other non-current financial assets related to operational activities | 332 | 471 | 937 |
Other | 101 | 161 | 169 |
Total | 2,415 | 2,509 | 3,984 |
Gross value/Cost | |||
Other non-current assets | |||
Loans and advances | 2,248 | 2,180 | 3,237 |
Other non-current financial assets related to operational activities | 332 | 471 | 937 |
Other | 101 | 161 | 169 |
Total | 2,681 | 2,812 | 4,343 |
Valuation allowance/Cumulative impairments | |||
Other non-current assets | |||
Loans and advances | (266) | (303) | (359) |
Total | $ (266) | $ (303) | $ (359) |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Reconciliation of changes in allowance account for credit losses of financial assets [abstract] | |||
Valuation allowance as of the beginning of the period | $ (303) | $ (359) | $ (286) |
Increases | (7) | (5) | (50) |
Decreases | 43 | 35 | 11 |
Currency translation adjustment and other variations | 1 | 26 | (34) |
Valuation allowance as of the end of the period | $ (266) | $ (303) | $ (359) |
Intangible and tangible asset_2
Intangible and tangible assets - Intangible assets (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Goodwill and other intangible assets | ||||
Intangible assets, including goodwill | $ 33,178 | $ 28,922 | $ 14,587 | $ 15,362 |
Goodwill | ||||
Goodwill and other intangible assets | ||||
Intangible assets, including goodwill | 8,346 | 8,174 | 1,427 | |
Proved mineral interests | ||||
Goodwill and other intangible assets | ||||
Intangible assets, including goodwill | 7,225 | 6,828 | 5,407 | |
Unproved mineral interests | ||||
Goodwill and other intangible assets | ||||
Intangible assets, including goodwill | 15,580 | 12,221 | 6,362 | |
Other intangible assets | ||||
Goodwill and other intangible assets | ||||
Intangible assets, including goodwill | $ 2,027 | 1,699 | 1,391 | |
Other intangible assets | Low | ||||
Goodwill and other intangible assets | ||||
Finite useful life | 3 years | |||
Other intangible assets | High | ||||
Goodwill and other intangible assets | ||||
Finite useful life | 20 years | |||
Gross value/Cost | ||||
Goodwill and other intangible assets | ||||
Intangible assets, including goodwill | $ 51,204 | 46,499 | 32,040 | |
Gross value/Cost | Goodwill | ||||
Goodwill and other intangible assets | ||||
Intangible assets, including goodwill | 9,357 | 9,188 | 2,442 | |
Gross value/Cost | Proved mineral interests | ||||
Goodwill and other intangible assets | ||||
Intangible assets, including goodwill | 15,966 | 14,775 | 13,081 | |
Gross value/Cost | Unproved mineral interests | ||||
Goodwill and other intangible assets | ||||
Intangible assets, including goodwill | 20,138 | 16,712 | 11,686 | |
Gross value/Cost | Other intangible assets | ||||
Goodwill and other intangible assets | ||||
Intangible assets, including goodwill | 5,743 | 5,824 | 4,831 | |
Depreciation, amortization and impairment | ||||
Goodwill and other intangible assets | ||||
Intangible assets, including goodwill | (18,026) | (17,577) | (17,453) | |
Depreciation, amortization and impairment | Goodwill | ||||
Goodwill and other intangible assets | ||||
Intangible assets, including goodwill | (1,011) | (1,014) | (1,015) | |
Depreciation, amortization and impairment | Proved mineral interests | ||||
Goodwill and other intangible assets | ||||
Intangible assets, including goodwill | (8,741) | (7,947) | (7,674) | |
Depreciation, amortization and impairment | Unproved mineral interests | ||||
Goodwill and other intangible assets | ||||
Intangible assets, including goodwill | (4,558) | (4,491) | (5,324) | |
Depreciation, amortization and impairment | Other intangible assets | ||||
Goodwill and other intangible assets | ||||
Intangible assets, including goodwill | $ (3,716) | $ (4,125) | $ (3,440) |
Intangible and tangible asset_3
Intangible and tangible assets - Change in net intangible assets (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Analysis of change in net intangible assets | |||
Net amount as of the beginning of the period | $ 28,922 | $ 14,587 | $ 15,362 |
Expenditures | 1,087 | 3,745 | 404 |
Disposals | (118) | (28) | (23) |
Amortization and impairment | (1,359) | (852) | (1,512) |
Currency translation adjustment | (95) | (351) | 234 |
Other | 4,741 | 11,821 | 122 |
Net amount as of the end of the period | 33,178 | 28,922 | 14,587 |
Exceptional asset impairments | 251 | 67 | $ 785 |
Effect of entries in the consolidation scope | $ 3,887 | $ 12,044 |
Intangible and tangible asset_4
Intangible and tangible assets - Changes in carrying amount of goodwill (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Changes in the carrying amount of goodwill by business segment | |
Net goodwill as of the beginning of the period | $ 8,174 |
Increases | 269 |
Other | (97) |
Net goodwill as of the end of the period | 8,346 |
Exploration & Production | |
Changes in the carrying amount of goodwill by business segment | |
Net goodwill as of the beginning of the period | 2,642 |
Net goodwill as of the end of the period | 2,642 |
Integrated Gas, Renewables and Power | |
Changes in the carrying amount of goodwill by business segment | |
Net goodwill as of the beginning of the period | 4,707 |
Increases | 155 |
Other | (88) |
Net goodwill as of the end of the period | 4,774 |
Refining & Chemicals | |
Changes in the carrying amount of goodwill by business segment | |
Net goodwill as of the beginning of the period | 475 |
Increases | 52 |
Other | (4) |
Net goodwill as of the end of the period | 523 |
Marketing & Services | |
Changes in the carrying amount of goodwill by business segment | |
Net goodwill as of the beginning of the period | 321 |
Increases | 62 |
Other | (4) |
Net goodwill as of the end of the period | 379 |
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 |
Anadarko Mozambique | |
Changes in the carrying amount of goodwill by business segment | |
Increases | $ 136 |
Intangible and tangible asset_5
Intangible and tangible assets - Other property, plant and equipment, useful lives (Details) | 12 Months Ended |
Dec. 31, 2019 | |
Furniture, office equipment, machinery and tools | Low | |
Property, plant and equipment | |
Useful lives of property, plant and equipment | 3 years |
Furniture, office equipment, machinery and tools | High | |
Property, plant and equipment | |
Useful lives of property, plant and equipment | 12 years |
Transportation equipment | Low | |
Property, plant and equipment | |
Useful lives of property, plant and equipment | 5 years |
Transportation equipment | High | |
Property, plant and equipment | |
Useful lives of property, plant and equipment | 20 years |
Storage tanks and related equipment | Low | |
Property, plant and equipment | |
Useful lives of property, plant and equipment | 10 years |
Storage tanks and related equipment | High | |
Property, plant and equipment | |
Useful lives of property, plant and equipment | 15 years |
Specialized complex installations and pipelines | Low | |
Property, plant and equipment | |
Useful lives of property, plant and equipment | 10 years |
Specialized complex installations and pipelines | High | |
Property, plant and equipment | |
Useful lives of property, plant and equipment | 30 years |
Buildings | Low | |
Property, plant and equipment | |
Useful lives of property, plant and equipment | 10 years |
Buildings | High | |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Property, plant and equipment | ||||
Property, plant and equipment | $ 116,408 | $ 113,324 | $ 109,397 | $ 111,971 |
Gross value/Cost | ||||
Property, plant and equipment | ||||
Property, plant and equipment | 287,017 | 273,412 | 262,941 | |
Depreciation, amortization and impairment | ||||
Property, plant and equipment | ||||
Property, plant and equipment | (170,609) | (160,088) | (153,544) | |
Exploration and production activities | ||||
Property, plant and equipment | ||||
Property, plant and equipment | 93,296 | 94,783 | 91,800 | |
Exploration and production activities | Gross value/Cost | ||||
Property, plant and equipment | ||||
Property, plant and equipment | 224,287 | 216,498 | 206,602 | |
Exploration and production activities | Depreciation, amortization and impairment | ||||
Property, plant and equipment | ||||
Property, plant and equipment | (130,991) | (121,715) | (114,802) | |
Exploration and production activities | Proved properties | ||||
Property, plant and equipment | ||||
Property, plant and equipment | 79,937 | 71,837 | 62,223 | |
Exploration and production activities | Proved properties | Gross value/Cost | ||||
Property, plant and equipment | ||||
Property, plant and equipment | 210,071 | 192,272 | 174,336 | |
Exploration and production activities | Proved properties | Depreciation, amortization and impairment | ||||
Property, plant and equipment | ||||
Property, plant and equipment | (130,134) | (120,435) | (112,113) | |
Exploration and production activities | Unproved properties | ||||
Property, plant and equipment | ||||
Property, plant and equipment | 1,872 | 1,521 | 1,828 | |
Exploration and production activities | Unproved properties | Gross value/Cost | ||||
Property, plant and equipment | ||||
Property, plant and equipment | 2,160 | 1,673 | 1,980 | |
Exploration and production activities | Unproved properties | Depreciation, amortization and impairment | ||||
Property, plant and equipment | ||||
Property, plant and equipment | (288) | (152) | (152) | |
Exploration and production activities | Work in progress | ||||
Property, plant and equipment | ||||
Property, plant and equipment | 11,487 | 21,425 | 27,749 | |
Exploration and production activities | Work in progress | Gross value/Cost | ||||
Property, plant and equipment | ||||
Property, plant and equipment | 12,056 | 22,553 | 30,286 | |
Exploration and production activities | Work in progress | Depreciation, amortization and impairment | ||||
Property, plant and equipment | ||||
Property, plant and equipment | (569) | (1,128) | (2,537) | |
Other (excluding exploration and production activities) | ||||
Property, plant and equipment | ||||
Property, plant and equipment | 23,112 | 18,541 | 17,597 | |
Other (excluding exploration and production activities) | Gross value/Cost | ||||
Property, plant and equipment | ||||
Property, plant and equipment | 62,730 | 56,914 | 56,339 | |
Other (excluding exploration and production activities) | Depreciation, amortization and impairment | ||||
Property, plant and equipment | ||||
Property, plant and equipment | (39,618) | (38,373) | (38,742) | |
Other (excluding exploration and production activities) | Land | ||||
Property, plant and equipment | ||||
Property, plant and equipment | 2,034 | 1,127 | 1,157 | |
Other (excluding exploration and production activities) | Land | Gross value/Cost | ||||
Property, plant and equipment | ||||
Property, plant and equipment | 2,826 | 1,775 | 1,809 | |
Other (excluding exploration and production activities) | Land | Depreciation, amortization and impairment | ||||
Property, plant and equipment | ||||
Property, plant and equipment | (792) | (648) | (652) | |
Other (excluding exploration and production activities) | Machinery, plant and equipment | ||||
Property, plant and equipment | ||||
Property, plant and equipment | 11,199 | 9,171 | 7,780 | |
Other (excluding exploration and production activities) | Machinery, plant and equipment | Gross value/Cost | ||||
Property, plant and equipment | ||||
Property, plant and equipment | 36,747 | 34,564 | 33,554 | |
Other (excluding exploration and production activities) | Machinery, plant and equipment | Depreciation, amortization and impairment | ||||
Property, plant and equipment | ||||
Property, plant and equipment | (25,548) | (25,393) | (25,774) | |
Other (excluding exploration and production activities) | Buildings | ||||
Property, plant and equipment | ||||
Property, plant and equipment | 4,487 | 3,224 | 3,344 | |
Other (excluding exploration and production activities) | Buildings | Gross value/Cost | ||||
Property, plant and equipment | ||||
Property, plant and equipment | 10,519 | 8,864 | 9,203 | |
Other (excluding exploration and production activities) | Buildings | Depreciation, amortization and impairment | ||||
Property, plant and equipment | ||||
Property, plant and equipment | (6,032) | (5,640) | (5,859) | |
Other (excluding exploration and production activities) | Work in progress | ||||
Property, plant and equipment | ||||
Property, plant and equipment | 2,499 | 2,538 | 2,309 | |
Other (excluding exploration and production activities) | Work in progress | Gross value/Cost | ||||
Property, plant and equipment | ||||
Property, plant and equipment | 2,501 | 2,540 | 2,310 | |
Other (excluding exploration and production activities) | Work in progress | Depreciation, amortization and impairment | ||||
Property, plant and equipment | ||||
Property, plant and equipment | (2) | (2) | (1) | |
Other (excluding exploration and production activities) | Other | ||||
Property, plant and equipment | ||||
Property, plant and equipment | 2,893 | 2,481 | 3,007 | |
Other (excluding exploration and production activities) | Other | Gross value/Cost | ||||
Property, plant and equipment | ||||
Property, plant and equipment | 10,137 | 9,171 | 9,463 | |
Other (excluding exploration and production activities) | Other | Depreciation, amortization and impairment | ||||
Property, plant and equipment | ||||
Property, plant and equipment | $ (7,244) | $ (6,690) | $ (6,456) |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Analysis of change in net property, plant and equipment | |||
Net amount as of the beginning of the period | $ 113,324 | $ 109,397 | $ 111,971 |
Expenditures | 11,426 | 13,336 | 13,363 |
Disposals | (1,052) | (2,494) | (1,117) |
Depreciation and impairment | (15,097) | (13,732) | (15,099) |
Currency translation adjustment | (270) | (1,454) | 2,302 |
Other | 8,077 | 8,271 | (2,023) |
Net amount as of the end of the period | 116,408 | 113,324 | 109,397 |
Impact of impairments of assets | 669 | 1,707 | 3,901 |
Impact of finance lease contracts | 855 | ||
Impact of the asset for site restitution | (773) | ||
Effect of application of IFRS 16 | 5,698 | ||
Effect of entries in the consolidation scope | 6,987 | ||
Reclassification as non-current assets held for sale and discontinued operations | $ (2,604) | ||
Reversal of reclassification as non-current assets held for sale and discontinued operations | 812 | $ 2,604 | |
Anadarko Mozambique | |||
Analysis of change in net property, plant and equipment | |||
Effect of entries in the consolidation scope | $ 767 | ||
Ichthys LNG project | |||
Analysis of change in net property, plant and equipment | |||
Percentage of interest sold | 4.00% | 4.00% | |
Reclassification as non-current assets held for sale and discontinued operations | $ (812) |
Intangible and tangible asset_8
Intangible and tangible assets - Facilities and equipment under leases (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Tangible assets | |||
Assets under leases | |||
Right-of-use assets | $ 7,113 | ||
Property, plant and equipment under finance leases | $ 1,698 | $ 1,059 | |
Tangible assets | Gross value/Cost | |||
Assets under leases | |||
Right-of-use assets | 9,068 | ||
Property, plant and equipment under finance leases | 2,442 | 1,642 | |
Tangible assets | Depreciation, amortization and impairment | |||
Assets under leases | |||
Right-of-use assets | (1,955) | ||
Property, plant and equipment under finance leases | (744) | (583) | |
Tangible assets | Exploration and production activities | |||
Assets under leases | |||
Right-of-use assets | 1,965 | ||
Tangible assets | Exploration and production activities | Gross value/Cost | |||
Assets under leases | |||
Right-of-use assets | 2,482 | ||
Tangible assets | Exploration and production activities | Depreciation, amortization and impairment | |||
Assets under leases | |||
Right-of-use assets | (517) | ||
Tangible assets | Other (excluding exploration and production activities) | |||
Assets under leases | |||
Right-of-use assets | 5,148 | ||
Tangible assets | Other (excluding exploration and production activities) | Gross value/Cost | |||
Assets under leases | |||
Right-of-use assets | 6,586 | ||
Tangible assets | Other (excluding exploration and production activities) | Depreciation, amortization and impairment | |||
Assets under leases | |||
Right-of-use assets | (1,438) | ||
Land | Other (excluding exploration and production activities) | |||
Assets under leases | |||
Right-of-use assets | 927 | ||
Land | Other (excluding exploration and production activities) | Gross value/Cost | |||
Assets under leases | |||
Right-of-use assets | 1,031 | ||
Land | Other (excluding exploration and production activities) | Depreciation, amortization and impairment | |||
Assets under leases | |||
Right-of-use assets | (104) | ||
Machinery, plant and equipment | |||
Assets under leases | |||
Property, plant and equipment under finance leases | 1,173 | 672 | |
Machinery, plant and equipment | Gross value/Cost | |||
Assets under leases | |||
Property, plant and equipment under finance leases | 1,778 | 1,140 | |
Machinery, plant and equipment | Depreciation, amortization and impairment | |||
Assets under leases | |||
Property, plant and equipment under finance leases | (605) | (468) | |
Machinery, plant and equipment | Other (excluding exploration and production activities) | |||
Assets under leases | |||
Right-of-use assets | 2,528 | ||
Machinery, plant and equipment | Other (excluding exploration and production activities) | Gross value/Cost | |||
Assets under leases | |||
Right-of-use assets | 3,527 | ||
Machinery, plant and equipment | Other (excluding exploration and production activities) | Depreciation, amortization and impairment | |||
Assets under leases | |||
Right-of-use assets | (999) | ||
Buildings | |||
Assets under leases | |||
Property, plant and equipment under finance leases | 65 | 67 | |
Buildings | Gross value/Cost | |||
Assets under leases | |||
Property, plant and equipment under finance leases | 121 | 124 | |
Buildings | Depreciation, amortization and impairment | |||
Assets under leases | |||
Property, plant and equipment under finance leases | (56) | (57) | |
Buildings | Other (excluding exploration and production activities) | |||
Assets under leases | |||
Right-of-use assets | 1,344 | ||
Buildings | Other (excluding exploration and production activities) | Gross value/Cost | |||
Assets under leases | |||
Right-of-use assets | 1,545 | ||
Buildings | Other (excluding exploration and production activities) | Depreciation, amortization and impairment | |||
Assets under leases | |||
Right-of-use assets | (201) | ||
Other | |||
Assets under leases | |||
Property, plant and equipment under finance leases | 460 | 320 | |
Other | Gross value/Cost | |||
Assets under leases | |||
Property, plant and equipment under finance leases | 543 | 378 | |
Other | Depreciation, amortization and impairment | |||
Assets under leases | |||
Property, plant and equipment under finance leases | $ (83) | $ (58) | |
Other | Other (excluding exploration and production activities) | |||
Assets under leases | |||
Right-of-use assets | 349 | ||
Other | Other (excluding exploration and production activities) | Gross value/Cost | |||
Assets under leases | |||
Right-of-use assets | 483 | ||
Other | Other (excluding exploration and production activities) | Depreciation, amortization and impairment | |||
Assets under leases | |||
Right-of-use assets | $ (134) |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Equity value | |||
Total Associates | $ 17,026 | $ 13,330 | $ 12,177 |
Total Joint ventures | 6,097 | 5,359 | 4,791 |
Total Equity value | 23,123 | 18,689 | 16,968 |
Loans | 3,999 | 4,755 | 5,135 |
Total Equity value and Loans | 27,122 | 23,444 | 22,103 |
Profit/(loss) | |||
Total Associates | 2,534 | 2,329 | 1,694 |
Total Joint ventures | 872 | 841 | 321 |
Total share of profit/(loss) of equity affiliates | 3,406 | 3,170 | 2,015 |
Other comprehensive income | |||
Total Associates | 592 | (461) | (801) |
Total Joint ventures | (184) | (79) | 124 |
Share of other comprehensive income of equity affiliates, net amount | $ 408 | $ (540) | $ (677) |
Equity affiliates, other inve_4
Equity affiliates, other investments and related parties - Associates (Details) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019USD ($)item | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |
Associates | ||||
Non current assets | $ 188,029 | $ 176,963 | $ 157,683 | |
Current assets | 85,265 | 79,799 | 84,948 | |
Total assets | 273,294 | 256,762 | 242,631 | |
Shareholder's equity | 119,305 | 118,114 | 114,037 | $ 101,574 |
Non current liabilities | 83,745 | 76,414 | 71,889 | |
Current liabilities | 70,244 | 62,234 | 56,705 | |
Total liabilities & shareholders' equity | 273,294 | 256,762 | 242,631 | |
Revenues from sales | 176,249 | 184,106 | 149,099 | |
Net income | 11,438 | 11,550 | 8,299 | |
Other comprehensive income | (781) | (3,494) | 6,725 | |
Equity value | 23,123 | 18,689 | 16,968 | |
Profit/(loss) | 3,406 | 3,170 | 2,015 | |
Share of Other Comprehensive Income, net amount | 408 | (540) | (677) | |
Saudi Aramco Total Refining & Petrochemical Company | Refining & Chemicals | ||||
Associates | ||||
Non current assets | 10,976 | 11,281 | 11,601 | |
Current assets | 1,793 | 2,069 | 2,021 | |
Total assets | 12,769 | 13,350 | 13,622 | |
Shareholder's equity | 2,113 | 2,412 | 2,424 | |
Non current liabilities | 8,098 | 8,398 | 9,029 | |
Current liabilities | 2,558 | 2,540 | 2,169 | |
Total liabilities & shareholders' equity | 12,769 | 13,350 | 13,622 | |
Revenues from sales | 10,522 | 11,886 | 9,049 | |
Net income | (171) | 122 | 222 | |
Other comprehensive income | $ (124) | $ 16 | $ 20 | |
% owned | 37.50% | 37.50% | 37.50% | |
Equity value | $ 792 | $ 905 | $ 909 | |
Profit/(loss) | (64) | 46 | 83 | |
Share of Other Comprehensive Income, net amount | $ (33) | 40 | (82) | |
Dividends paid to the Group | 56 | 45 | ||
Refinery production capacity (in barrels per day) | item | 440,000 | |||
Qatar | Refining & Chemicals | ||||
Associates | ||||
Non current assets | $ 4,160 | 3,968 | 4,405 | |
Current assets | 1,571 | 1,741 | 1,696 | |
Total assets | 5,731 | 5,709 | 6,101 | |
Shareholder's equity | 2,676 | 2,748 | 3,200 | |
Non current liabilities | 2,150 | 1,914 | 1,895 | |
Current liabilities | 905 | 1,047 | 1,006 | |
Total liabilities & shareholders' equity | 5,731 | 5,709 | 6,101 | |
Revenues from sales | 8,225 | 9,929 | 7,388 | |
Net income | 42 | 409 | 490 | |
Other comprehensive income | 111 | (21) | 80 | |
Equity value | 706 | 740 | 814 | |
Profit/(loss) | 91 | 198 | 190 | |
Share of Other Comprehensive Income, net amount | 14 | 6 | (12) | |
Dividends paid to the Group | $ 159 | 271 | 201 | |
Qatar Petrochemical Company Q.S.C. (QAPCO) | Refining & Chemicals | ||||
Associates | ||||
% owned | 20.00% | |||
Qatofin Company Limited | Refining & Chemicals | ||||
Associates | ||||
% owned | 49.09% | |||
Laffan Refinery Company Limited | Refining & Chemicals | ||||
Associates | ||||
% owned | 10.00% | |||
Laffan Refinery Company Limited 2 | Refining & Chemicals | ||||
Associates | ||||
% owned | 10.00% | |||
Exploration and production activities | Novatek | ||||
Associates | ||||
Non current assets | $ 24,081 | 14,639 | 14,232 | |
Current assets | 6,898 | 4,545 | 3,404 | |
Total assets | 30,979 | 19,184 | 17,636 | |
Shareholder's equity | 24,884 | 14,163 | 12,842 | |
Non current liabilities | 3,727 | 3,086 | 3,187 | |
Current liabilities | 2,368 | 1,935 | 1,607 | |
Total liabilities & shareholders' equity | 30,979 | 19,184 | 17,636 | |
Revenues from sales | 13,227 | 13,415 | 10,022 | |
Net income | 8,260 | 4,636 | 1,950 | |
Other comprehensive income | $ 1,807 | $ (2,545) | $ 580 | |
% owned | 19.40% | 19.40% | 18.90% | |
Revaluation identifiable assets on equity affiliates | $ 1,641 | $ 1,556 | $ 1,804 | |
Equity value | 6,469 | 4,303 | 4,231 | |
Profit/(loss) | 1,508 | 794 | 263 | |
Share of Other Comprehensive Income, net amount | 634 | (540) | (491) | |
Dividends paid to the Group | 266 | 151 | 128 | |
Group share of equity associate's market value | 11,938 | |||
Exploration and production activities | Liquefaction entities | ||||
Associates | ||||
Non current assets | 30,578 | 28,664 | 29,656 | |
Current assets | 9,994 | 9,358 | 7,875 | |
Total assets | 40,572 | 38,022 | 37,531 | |
Shareholder's equity | 23,640 | 22,615 | 22,804 | |
Non current liabilities | 11,445 | 9,826 | 10,291 | |
Current liabilities | 5,487 | 5,581 | 4,436 | |
Total liabilities & shareholders' equity | 40,572 | 38,022 | 37,531 | |
Revenues from sales | 22,684 | 25,644 | 20,401 | |
Net income | 5,692 | 7,408 | 5,781 | |
Revaluation identifiable assets on equity affiliates | 1,714 | 44 | 6 | |
Equity value | 5,493 | 3,758 | 3,768 | |
Profit/(loss) | 637 | 874 | 735 | |
Share of Other Comprehensive Income, net amount | 23 | 49 | (194) | |
Dividends paid to the Group | $ 752 | 816 | 672 | |
Exploration and production activities | Nigeria LNG Limited | ||||
Associates | ||||
% owned | 15.00% | |||
Exploration and production activities | Angola LNG Limited | ||||
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 | 10.00% | |||
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 | 5.00% | |||
Exploration and production activities | Arctic LNG 2 LLC | ||||
Associates | ||||
% owned | 10.00% | |||
Exploration and production activities | Petrocedeno | ||||
Associates | ||||
Non current assets | $ 3,994 | 4,324 | 5,551 | |
Current assets | 7,457 | 5,580 | 4,291 | |
Total assets | 11,451 | 9,904 | 9,842 | |
Shareholder's equity | 4,548 | 4,581 | 5,178 | |
Non current liabilities | 76 | 20 | 13 | |
Current liabilities | 6,827 | 5,303 | 4,651 | |
Total liabilities & shareholders' equity | 11,451 | 9,904 | 9,842 | |
Revenues from sales | 356 | 1,629 | 1,708 | |
Net income | $ (33) | $ 122 | $ 204 | |
% owned | 30.32% | 30.32% | 30.32% | |
Equity value | $ 1,379 | $ 1,389 | $ 1,570 | |
Profit/(loss) | $ (10) | 37 | 62 | |
Dividends paid to the Group | $ 218 | $ 164 |
Equity affiliates, other inve_5
Equity affiliates, other investments and related parties - Joint Ventures (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Joint Ventures | ||||
Non current assets | $ 188,029 | $ 176,963 | $ 157,683 | |
Cash and cash equivalents | 27,352 | 27,907 | 33,185 | $ 24,597 |
Total assets | 273,294 | 256,762 | 242,631 | |
Shareholder's equity | 119,305 | 118,114 | 114,037 | $ 101,574 |
Financial debt | 47,773 | 40,129 | 41,340 | |
Current borrowings | 14,819 | 13,306 | 11,096 | |
Total liabilities & shareholders' equity | 273,294 | 256,762 | 242,631 | |
Revenues from sales | 176,249 | 184,106 | 149,099 | |
Income taxes | (5,872) | (6,516) | (3,029) | |
Net income | 11,438 | 11,550 | 8,299 | |
Other comprehensive income | (781) | (3,494) | 6,725 | |
Equity value | 23,123 | 18,689 | 16,968 | |
Profit/(loss) | 3,406 | 3,170 | 2,015 | |
Share of Other Comprehensive Income, net amount | 408 | (540) | (677) | |
Liquefaction entities | Integrated Gas, Renewables and Power | ||||
Joint Ventures | ||||
Non current assets | 70,279 | 68,003 | 59,422 | |
Current assets excluding cash and cash equivalents | 1,866 | 1,928 | 966 | |
Cash and cash equivalents | 1,678 | 339 | 1,258 | |
Total assets | 73,823 | 70,270 | 61,646 | |
Shareholder's equity | 7,151 | 7,059 | 4,037 | |
Other non current liabilities | 6,864 | 3,472 | 504 | |
Financial debt | 56,379 | 56,841 | 55,566 | |
Other current liabilities | 3,429 | 2,898 | 1,539 | |
Total liabilities & shareholders' equity | 73,823 | 70,270 | 61,646 | |
Revenues from sales | 9,240 | 2,908 | 37 | |
Depreciation and depletion of tangible assets and mineral interests | (3,040) | (1,227) | (10) | |
Interest income | 5 | 119 | 16 | |
Interest expense | (2,993) | (670) | (15) | |
Income taxes | (270) | (386) | 338 | |
Net income | 383 | 2,029 | (1,730) | |
Other comprehensive income | (429) | 132 | 97 | |
Revaluation identifiable assets on equity affiliates | 660 | 683 | 905 | |
Equity value | 2,318 | 2,404 | 2,049 | |
Profit/(loss) | (19) | 192 | (348) | |
Share of Other Comprehensive Income, net amount | $ (112) | 40 | 29 | |
Yamal LNG | Integrated Gas, Renewables and Power | ||||
Joint Ventures | ||||
% owned | 20.02% | |||
Ichthys LNG PTY Limited | Integrated Gas, Renewables and Power | ||||
Joint Ventures | ||||
% owned | 26.00% | |||
Hanwha Total Petrochemical Co. Limited | Refining & Chemicals | ||||
Joint Ventures | ||||
Non current assets | $ 4,310 | 4,017 | 3,989 | |
Current assets excluding cash and cash equivalents | 1,842 | 2,180 | 2,258 | |
Cash and cash equivalents | 322 | 237 | 283 | |
Total assets | 6,474 | 6,434 | 6,530 | |
Shareholder's equity | 3,319 | 3,534 | 3,612 | |
Other non current liabilities | 150 | 157 | 148 | |
Financial debt | 1,761 | 1,418 | 1,078 | |
Other current liabilities | 756 | 725 | 1,144 | |
Current borrowings | 488 | 600 | 548 | |
Total liabilities & shareholders' equity | 6,474 | 6,434 | 6,530 | |
Revenues from sales | 8,437 | 10,191 | 8,565 | |
Depreciation and depletion of tangible assets and mineral interests | (256) | (269) | (264) | |
Interest income | 9 | |||
Interest expense | (14) | (5) | (3) | |
Income taxes | (124) | (310) | (369) | |
Net income | 302 | 754 | 973 | |
Other comprehensive income | $ (116) | $ (169) | $ 398 | |
% owned | 50.00% | 50.00% | 50.00% | |
Equity value | $ 1,660 | $ 1,767 | $ 1,806 | |
Profit/(loss) | 150 | 377 | 486 | |
Share of Other Comprehensive Income, net amount | (68) | (67) | 170 | |
Dividends paid to the Group | $ 200 | $ 332 | $ 353 |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Equity affiliates | ||||
Non current assets | $ 188,029 | $ 176,963 | $ 157,683 | |
Current assets | 85,265 | 79,799 | 84,948 | |
Total assets | 273,294 | 256,762 | 242,631 | |
Shareholder's equity | 119,305 | 118,114 | 114,037 | $ 101,574 |
Non current liabilities | 83,745 | 76,414 | 71,889 | |
Current liabilities | 70,244 | 62,234 | 56,705 | |
Total liabilities & shareholders' equity | 273,294 | 256,762 | 242,631 | |
Revenues from sales | 176,249 | 184,106 | 149,099 | |
Net income | 11,438 | 11,550 | 8,299 | |
Share of Other Comprehensive Income, net amount | 408 | (540) | (677) | |
Equity value | 23,123 | 18,689 | 16,968 | |
Profit/(loss) | 3,406 | 3,170 | 2,015 | |
Associates | ||||
Equity affiliates | ||||
Non current assets | 5,435 | 4,512 | 2,908 | |
Current assets | 1,357 | 1,263 | 1,156 | |
Total assets | 6,792 | 5,775 | 4,064 | |
Shareholder's equity | 1,405 | 1,438 | 885 | |
Non current liabilities | 4,412 | 3,254 | 2,171 | |
Current liabilities | 975 | 1,083 | 1,008 | |
Total liabilities & shareholders' equity | 6,792 | 5,775 | 4,064 | |
Revenues from sales | 2,190 | 2,542 | 2,226 | |
Net income | 383 | 380 | 361 | |
Share of Other Comprehensive Income, net amount | (46) | (16) | (22) | |
Equity value | 2,187 | 2,235 | 885 | |
Profit/(loss) | 372 | 380 | 361 | |
Dividends paid to the Group | 362 | 416 | 328 | |
Joint ventures | ||||
Equity affiliates | ||||
Non current assets | 4,287 | 2,487 | 2,428 | |
Current assets | 1,276 | 752 | 1,150 | |
Total assets | 5,563 | 3,239 | 3,578 | |
Shareholder's equity | 1,437 | 1,108 | 1,102 | |
Non current liabilities | 3,091 | 1,585 | 1,281 | |
Current liabilities | 1,035 | 546 | 1,195 | |
Total liabilities & shareholders' equity | 5,563 | 3,239 | 3,578 | |
Revenues from sales | 3,535 | 11,914 | 4,358 | |
Net income | 288 | 281 | 183 | |
Share of Other Comprehensive Income, net amount | (4) | (52) | (75) | |
Equity value | 2,119 | 1,188 | 936 | |
Profit/(loss) | 741 | 272 | 183 | |
Dividends paid to the Group | $ 50 | $ 49 | $ 147 |
Equity affiliates, other inve_7
Equity affiliates, other investments and related parties - Equity instruments reconciliation (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Financial structure, financial costs and financial instruments | ||
Equity instruments as of the beginning of the period | $ 1,421 | $ 1,727 |
Increase - Decrease | 237 | (372) |
Change in fair value | 120 | 66 |
Equity instruments as of the end of the period | 1,778 | 1,421 |
Other Comprehensive Income | ||
Financial structure, financial costs and financial instruments | ||
Equity instruments as of the beginning of the period | 362 | 284 |
Increase - Decrease | 2 | 80 |
Change in fair value | 142 | (2) |
Equity instruments as of the end of the period | 506 | 362 |
Other Comprehensive Income | Enphase Energy Inc. | ||
Financial structure, financial costs and financial instruments | ||
Equity instruments as of the beginning of the period | 36 | |
Increase - Decrease | (5) | |
Change in fair value | 142 | |
Equity instruments as of the end of the period | 173 | 36 |
Other Comprehensive Income | Tellurian Investments Inc | ||
Financial structure, financial costs and financial instruments | ||
Equity instruments as of the beginning of the period | 207 | 207 |
Equity instruments as of the end of the period | 207 | 207 |
Other Comprehensive Income | Other equity securities (unit value below $50 million), excluding Enphase Energy | ||
Financial structure, financial costs and financial instruments | ||
Equity instruments as of the beginning of the period | 119 | |
Increase - Decrease | 7 | |
Equity instruments as of the end of the period | 126 | 119 |
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 | 155 | 77 |
Increase - Decrease | 80 | |
Change in fair value | (2) | |
Equity instruments as of the end of the period | 155 | |
Fair value through P&L - assets | ||
Financial structure, financial costs and financial instruments | ||
Equity instruments as of the beginning of the period | 1,059 | 1,443 |
Increase - Decrease | 235 | (452) |
Change in fair value | (22) | 68 |
Equity instruments as of the end of the period | 1,272 | 1,059 |
Fair value through P&L - assets | BBPP | ||
Financial structure, financial costs and financial instruments | ||
Equity instruments as of the beginning of the period | 62 | 62 |
Equity instruments as of the end of the period | 62 | 62 |
Fair value through P&L - assets | BTC Limited | ||
Financial structure, financial costs and financial instruments | ||
Equity instruments as of the beginning of the period | 50 | 55 |
Change in fair value | (22) | (5) |
Equity instruments as of the end of the period | 28 | 50 |
Fair value through P&L - assets | Tas Helat Marketing Company | ||
Financial structure, financial costs and financial instruments | ||
Increase - Decrease | 108 | |
Equity instruments as of the end of the period | 108 | |
Fair value through P&L - assets | DUNKERQUE LNG SAS | ||
Financial structure, financial costs and financial instruments | ||
Equity instruments as of the beginning of the period | 144 | |
Increase - Decrease | (217) | |
Change in fair value | 73 | |
Fair value through P&L - assets | Total Lubrificantes do Brasil | ||
Financial structure, financial costs and financial instruments | ||
Equity instruments as of the beginning of the period | 111 | |
Increase - Decrease | (111) | 111 |
Equity instruments as of the end of the period | 111 | |
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 | 836 | 1,182 |
Increase - Decrease | 238 | (346) |
Equity instruments as of the end of the period | $ 1,074 | $ 836 |
Equity affiliates, other inve_8
Equity affiliates, other investments and related parties - Other investments (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Financial structure, financial costs and financial instruments | |||
Other investments | $ 1,778 | $ 1,421 | $ 1,727 |
Historical value | |||
Financial structure, financial costs and financial instruments | |||
Other investments | 1,685 | ||
Unrealized gain (loss) | |||
Financial structure, financial costs and financial instruments | |||
Other investments | 42 | ||
Valuation allowance/Cumulative impairments | |||
Financial structure, financial costs and financial instruments | |||
Other investments | (2,029) | ||
Equity securities publicly traded in active markets | |||
Financial structure, financial costs and financial instruments | |||
Other investments | 50 | ||
Equity securities publicly traded in active markets | Historical value | |||
Financial structure, financial costs and financial instruments | |||
Other investments | 8 | ||
Equity securities publicly traded in active markets | Unrealized gain (loss) | |||
Financial structure, financial costs and financial instruments | |||
Other investments | 42 | ||
Equity securities publicly traded in active markets | Other equity securities (unit value below $50 million) | |||
Financial structure, financial costs and financial instruments | |||
Other investments | 50 | ||
Equity securities publicly traded in active markets | Other equity securities (unit value below $50 million) | Historical value | |||
Financial structure, financial costs and financial instruments | |||
Other investments | 8 | ||
Equity securities publicly traded in active markets | Other equity securities (unit value below $50 million) | Unrealized gain (loss) | |||
Financial structure, financial costs and financial instruments | |||
Other investments | 42 | ||
Other equity securities | |||
Financial structure, financial costs and financial instruments | |||
Other investments | 1,677 | ||
Other equity securities | Historical value | |||
Financial structure, financial costs and financial instruments | |||
Other investments | 1,677 | ||
Other equity securities | BBPP | |||
Financial structure, financial costs and financial instruments | |||
Other investments | 62 | ||
Other equity securities | BBPP | Historical value | |||
Financial structure, financial costs and financial instruments | |||
Other investments | 62 | ||
Other equity securities | BTC Limited | |||
Financial structure, financial costs and financial instruments | |||
Other investments | 55 | ||
Other equity securities | BTC Limited | Historical value | |||
Financial structure, financial costs and financial instruments | |||
Other investments | 55 | ||
Other equity securities | DUNKERQUE LNG SAS | |||
Financial structure, financial costs and financial instruments | |||
Other investments | 144 | ||
Other equity securities | DUNKERQUE LNG SAS | Historical value | |||
Financial structure, financial costs and financial instruments | |||
Other investments | 144 | ||
Other equity securities | Tellurian Investments Inc | |||
Financial structure, financial costs and financial instruments | |||
Other investments | 207 | ||
Other equity securities | Tellurian Investments Inc | Historical value | |||
Financial structure, financial costs and financial instruments | |||
Other investments | 207 | ||
Other equity securities | Total Eren Holding SA | |||
Financial structure, financial costs and financial instruments | |||
Other investments | 285 | ||
Other equity securities | Total Eren Holding SA | Historical value | |||
Financial structure, financial costs and financial instruments | |||
Other investments | 285 | ||
Other equity securities | Greenflex | |||
Financial structure, financial costs and financial instruments | |||
Other investments | 76 | ||
Other equity securities | Greenflex | Historical value | |||
Financial structure, financial costs and financial instruments | |||
Other investments | 76 | ||
Other equity securities | Other equity securities (unit value below $50 million) | |||
Financial structure, financial costs and financial instruments | |||
Other investments | 848 | ||
Other equity securities | Other equity securities (unit value below $50 million) | Historical value | |||
Financial structure, financial costs and financial instruments | |||
Other investments | $ 848 |
Equity affiliates, other inve_9
Equity affiliates, other investments and related parties - Related parties (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Balance sheet | |||
Receivables: Debtors and other debtors | $ 486 | $ 496 | $ 492 |
Receivables: Loans (excl. loans to equity affiliates) | 42 | 57 | 63 |
Payables: Creditors and other creditors | 968 | 888 | 1,161 |
Payables: Debts | 2 | 2 | 2 |
Statement of income | |||
Sales | 4,127 | 4,192 | 3,407 |
Purchases | (10,158) | (9,253) | (7,354) |
Financial income | 4 | 2 | 6 |
Financial expense | $ (4) | $ (5) | $ (9) |
Equity affiliates, other inv_10
Equity affiliates, other investments and related parties - Compensation (Details) € in Thousands, $ in Thousands | 12 Months Ended | ||||||
Dec. 31, 2019EUR (€) | Dec. 31, 2019USD ($)employee | Dec. 31, 2018EUR (€) | Dec. 31, 2018USD ($)employee | Dec. 31, 2017EUR (€) | Dec. 31, 2017USD ($)employee | Jul. 04, 2019 | |
Related party transactions [abstract] | |||||||
Number of people | employee | 107,776 | 104,460 | 98,277 | ||||
Direct or indirect compensation | $ 15,000 | $ 17,700 | $ 15,600 | ||||
Pension expense | (4,900) | 2,500 | 10,800 | ||||
Share-based payments expense | 8,700 | 12,600 | 6,500 | ||||
Severance provision | 113,300 | 117,000 | 119,700 | ||||
Number of times employee's salary exceeds annual ceiling to be impacted by ordonnance | 8 | ||||||
Directors' fees | € 1,400 | $ 1,570 | € 1,400 | $ 1,650 | € 1,280 | $ 1,440 | |
Executive officers and members of the Board of Directors | |||||||
Related party transactions [abstract] | |||||||
Number of people | employee | 15 | 15 | 15 | ||||
Directors of corporate functions in Group Performance Management Committee | |||||||
Related party transactions [abstract] | |||||||
Number of people | employee | 4 | 4 | 4 |
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, 2019EUR (€)item€ / sharesshares | Dec. 31, 2019USD ($)itemshares | Dec. 31, 2018USD ($)shares | Dec. 31, 2017USD ($)shares | Dec. 31, 2016shares | |
Shareholders' equity | |||||
Number of categories of shares | item | 1 | 1 | |||
Authorized share capital (in shares) | 3,593,399,547 | 3,593,399,547 | 3,669,077,772 | 3,434,245,369 | |
Share capital | € 6,504,702,687.50 | $ 8,123 | $ 8,227 | $ 7,882 | |
Number of shares issued | 2,601,881,075 | 2,601,881,075 | |||
Common shares | |||||
Shareholders' equity | |||||
Common share par value (in Euros per shares) | € / shares | € 2.50 | ||||
Minimum holding period of shares to earn double voting rights | 2 years | ||||
Shareholder maximum voting rights (as a percent) | 10.00% | 10.00% | |||
Shareholder maximum double voting rights (as a percent) | 20.00% | 20.00% | |||
Minimum ownership percentage for which voting restrictions do not apply | 66.67% | 66.67% | |||
Number of shares issued | 2,640,602,007 | 2,528,989,616 | 2,430,365,862 |
Shareholders' equity and shar_4
Shareholders' equity and share-based payments - Share cancellation (Details) - USD ($) $ in Billions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Shareholders' equity | ||
Share buyback program amount | $ 5 | |
Treasury shares | ||
Shareholders' equity | ||
Cancellation of treasury shares | 65,109,435 | 44,590,699 |
Buyback - cancellation of dilution | 34,860,133 | 28,445,840 |
Buyback - shareholder return policy | 30,249,302 | 16,144,859 |
Percentage of the share capital cancelled | 2.44% | 1.66% |
Shareholders' equity and shar_5
Shareholders' equity and share-based payments - Variation of the number of shares composing the share capital (Details) | 12 Months Ended | |||
Dec. 31, 2019EquityInstrumentsshares | Dec. 31, 2018EquityInstrumentsshares | Dec. 31, 2017EquityInstrumentsshares | Dec. 31, 2016shares | |
Variation of the number of shares composing the share capital | ||||
Common shares issued as of the end of the period | 2,601,881,075 | |||
Treasury shares | 15,474,234 | 32,473,281 | 8,376,756 | 10,587,822 |
Common shares issued | ||||
Variation of the number of shares composing the share capital | ||||
Common shares issued as of the beginning of the period | 2,640,602,007 | 2,528,989,616 | 2,430,365,862 | |
Capital increase reserved for employees | 10,047,337 | 9,354,889 | 9,532,190 | |
Capital increase as payment of the scrip dividend | 16,076,936 | 47,229,037 | 86,442,256 | |
Exercise of TOTAL share subscription options | EquityInstruments | 264,230 | 2,096,571 | 2,649,308 | |
Issuance of shares in consideration for the acquisition of Maersk Olie og Gas A/S | 97,522,593 | |||
Cancellation of treasury shares | (65,109,435) | (44,590,699) | ||
Common shares issued as of the end of the period | 2,601,881,075 | 2,640,602,007 | 2,528,989,616 |
Shareholders' equity and shar_6
Shareholders' equity and share-based payments - Capital increase reserved for Group employees (Details) - Capital increase reserved for employees | Jun. 06, 2019employee€ / sharesshares | Jun. 01, 2018 | May 03, 2018employee€ / sharesshares | Apr. 26, 2017employee€ / sharesshares | Dec. 31, 2019shares | Sep. 18, 2019shares |
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 | 9,845,111 | 9,174,817 | 9,350,220 | 10,050,000 | ||
Subscription price | € / shares | € 40.10 | € 37.20 | € 38.10 | |||
Free shares - Number of shares granted | 202,226 | 180,072 | 181,970 | |||
Deferred contribution - Number of shares granted | 5,932 | 6,784 | 10,393 | |||
Number of beneficiaries | employee | 1,187 | 1,360 | 2,086 |
Shareholders' equity and shar_7
Shareholders' equity and share-based payments - Treasury shares (Details) - shares | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Shareholders' equity | ||||
Number of treasury shares | 15,474,234 | 32,473,281 | 8,376,756 | 10,587,822 |
TOTAL S.A. | ||||
Shareholders' equity | ||||
Number of treasury shares | 15,474,234 | 32,473,281 | 8,376,756 | |
Percentage of share capital represented by treasury shares | 0.59% | 1.23% | 0.33% | |
Shares acquired with the intention to cancel them | 11,051,144 | 27,360,278 | ||
TOTAL S.A. | TOTAL share performance plans for Group employees | ||||
Shareholders' equity | ||||
Shares allocated or intended to be allocated to share-based payment plans | 4,357,324 | 5,044,817 | 8,345,847 | |
TOTAL S.A. | New TOTAL share subscription or purchase options plans or new share performance plans | ||||
Shareholders' equity | ||||
Shares allocated or intended to be allocated to share-based payment plans | 65,766 | 68,186 | 30,909 |
Shareholders' equity and shar_8
Shareholders' equity and share-based payments - Paid-in surplus and Reserves (Details) € in Millions, $ in Millions | Dec. 31, 2019EUR (€) | Dec. 31, 2019USD ($) | Dec. 31, 2018EUR (€) | Dec. 31, 2018USD ($) | Dec. 31, 2017EUR (€) | Dec. 31, 2017USD ($) |
Shareholders' equity and share-based payments | ||||||
Paid-in surplus | € | € 35,415 | € 37,276 | € 32,882 | |||
Reserves | ||||||
Percentage of net income that must be transferred to legal reserve | 5.00% | 5.00% | ||||
Required legal reserve as a percentage of share capital | 10.00% | 10.00% | ||||
Additional corporation tax if unrestricted reserves were wholly distributed | $ | $ 575 | $ 607 | $ 750 |
Shareholders' equity and shar_9
Shareholders' equity and share-based payments - Earnings per share (Details) | 12 Months Ended | ||||
Dec. 31, 2019€ / sharesshares | Dec. 31, 2019$ / sharesshares | Dec. 31, 2018€ / sharesshares | Dec. 31, 2018$ / sharesshares | Dec. 31, 2017$ / sharesshares | |
Earnings per share in euros | |||||
Earnings per share (in dollars or Euros per share) | (per share) | € 3.75 | $ 4.20 | € 3.62 | $ 4.27 | $ 3.36 |
Diluted earnings per share (in dollars or Euros per share) | (per share) | € 3.72 | $ 4.17 | € 3.59 | $ 4.24 | $ 3.34 |
Common shares | |||||
Number of shares issued during the year (pro rated) | |||||
Common shares issued as of the beginning of the period | 2,640,602,007 | 2,640,602,007 | 2,528,989,616 | 2,528,989,616 | 2,430,365,862 |
Exercise of TOTAL share subscription options | 157,153 | 157,153 | 1,351,465 | 1,351,465 | 1,198,036 |
TOTAL performance shares | 2,140,576 | 2,140,576 | 2,039,729 | 2,039,729 | 1,105,796 |
Capital increase reserved for employees | 5,860,947 | 5,860,947 | 6,236,593 | 6,236,593 | 6,354,793 |
Issuance of shares in consideration for the acquisition of Maersk Olie og Gas A/S | 81,268,828 | 81,268,828 | |||
Capital increase as payment of the scrip dividend | 12,360,894 | 12,360,894 | 26,352,572 | 26,352,572 | 53,365,971 |
Buyback of treasury shares including: | (27,026,481) | (27,026,481) | (30,405,112) | (30,405,112) | |
Shares repurchased in during the fiscal year to cancel the dilution caused by the scrip dividend payment and within the framework of the share buyback program | (24,818,443) | (24,818,443) | (30,102,242) | (30,102,242) | |
Shares repurchased in during the fiscal year to cover for the stock options plans | (2,208,038) | (2,208,038) | (302,870) | (302,870) | |
TOTAL shares held by TOTAL S.A. or by its subsidiaries and deducted from shareholders' equity | (32,473,281) | (32,473,281) | (8,376,756) | (8,376,756) | (10,587,822) |
Weighted-average number of shares | 2,601,621,815 | 2,601,621,815 | 2,607,456,934 | 2,607,456,934 | 2,481,802,636 |
Dilutive effect | |||||
Grant of TOTAL share subscription or purchase options | 33,636 | 33,636 | 296,830 | 296,830 | 727,864 |
Grant of TOTAL performance shares | 14,593,030 | 14,593,030 | 13,794,896 | 13,794,896 | 10,238,411 |
Capital increase reserved for employees | 1,759,407 | 1,759,407 | 2,167,784 | 2,167,784 | 1,987,502 |
Weighted-average number of diluted shares | 2,618,007,888 | 2,618,007,888 | 2,623,716,444 | 2,623,716,444 | 2,494,756,413 |
Shareholders' equity and sha_10
Shareholders' equity and share-based payments - Dividend (Details) - € / shares | Feb. 05, 2020 | Oct. 29, 2019 | Jul. 24, 2019 | Apr. 25, 2019 |
Dividend | ||||
Dividend for the 2019 fiscal year, to be submitted at shareholders' meeting (in Euros per share) | € 2.68 | |||
Final dividend proposed by Board of Directors (in Euros per share) | € 0.68 | |||
Percentage of increase in final dividend per share | 3.00% | |||
Dividend recognised (in Euros per share) | € 0.68 | € 0.66 | € 0.66 |
Shareholders' equity and sha_11
Shareholders' equity and share-based payments - Perpetual subordinated notes (Details) € in Millions, $ in Millions | 12 Months Ended | ||||||
Dec. 31, 2019EUR (€) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016EUR (€)tranche | Dec. 31, 2015EUR (€)tranche | Dec. 31, 2019USD ($) | |
Shareholders' equity | |||||||
Number of tranches of deeply subordinated perpetual maturity callable notes issued | tranche | 3 | 2 | |||||
Amount of perpetual deeply subordinated notes recorded in equity | $ | $ 10,333 | ||||||
Coupons booked in deduction of shareholders' equity | $ | $ 353 | $ 315 | $ 302 | ||||
Perpetual subordinated notes issued, 1.750%, callable after 5 years | |||||||
Shareholders' equity | |||||||
Interest rate (as percent) | 1.75% | 1.75% | |||||
Years after which notes are callable | 5 years | 5 years | |||||
Principal amount | € 1,500 | ||||||
Subordinated note, 3.875%, perpetual maturity callable after 6 years | |||||||
Shareholders' equity | |||||||
Interest rate (as percent) | 3.875% | ||||||
Years after which notes are callable | 6 years | ||||||
Principal amount | € 1,750 | ||||||
Subordinated note, 2.708%, perpetual maturity callable after 6.6 years | |||||||
Shareholders' equity | |||||||
Interest rate (as percent) | 2.708% | ||||||
Years after which notes are callable | 6 years 7 months 6 days | ||||||
Principal amount | € 1,000 | ||||||
Subordinated note, 3.369%, perpetual maturity callable after 10 years | |||||||
Shareholders' equity | |||||||
Interest rate (as percent) | 3.369% | ||||||
Years after which notes are callable | 10 years | ||||||
Principal amount | € 1,500 | ||||||
Subordinated note, 2.250%, perpetual maturity callable after 6 years | |||||||
Shareholders' equity | |||||||
Interest rate (as percent) | 2.25% | ||||||
Years after which notes are callable | 6 years | ||||||
Principal amount | 1,000 | € 2,500 | |||||
Amount tendered | € 1,500 | ||||||
Subordinated note, 2.625%, perpetual maturity callable after 10 years | |||||||
Shareholders' equity | |||||||
Interest rate (as percent) | 2.625% | ||||||
Years after which notes are callable | 10 years | ||||||
Principal amount | € 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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Shareholders' equity | |||
Actuarial gains and losses | $ (192) | $ (12) | $ 823 |
Change in fair value of investments in equity instruments | 142 | ||
Tax effect | 53 | 13 | (390) |
Currency translation adjustment generated by the parent company | (1,533) | (4,022) | 9,316 |
Items not potentially reclassifiable to profit and loss | (1,530) | (4,021) | 9,749 |
Currency translation adjustment | 740 | 1,113 | (2,578) |
Unrealized gain/(loss) of the period | 800 | 1,238 | (2,408) |
Less gain/(loss) included in net income | 60 | 125 | 170 |
Available for sale financial assets | 7 | ||
Unrealized gain/(loss) of the period | 7 | ||
Cash flow hedge | (599) | 25 | 324 |
Unrealized gain/(loss) of the period | (552) | (94) | 584 |
Less gain/(loss) included in net income | 47 | (119) | 260 |
Variation of foreign currency basis spread | 1 | (80) | |
unrealized gain/(loss) of the period | (57) | (80) | |
less gain/(loss) included in net income | (58) | ||
Share of other comprehensive income of equity affiliates, net amount | 408 | (540) | (677) |
Unrealized gain/(loss) of the period | 421 | (495) | (655) |
Less gain/(loss) included in net income | 13 | 45 | 22 |
Other | (3) | (5) | |
Tax effect | 202 | 14 | (100) |
Sub-total items potentially reclassifiable to profit and loss | 749 | 527 | (3,024) |
Total other comprehensive income, net amount | $ (781) | $ (3,494) | $ 6,725 |
Shareholders' equity and sha_13
Shareholders' equity and share-based payments - Currency translation adjustment (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Other comprehensive income | |||
Currency translation adjustment generated by the parent company | $ (1,533) | $ (4,022) | $ 9,316 |
Currency translation adjustment | 740 | 1,113 | (2,578) |
Currency translation adjustment of equity affiliates | 607 | (564) | (730) |
Total currency translation adjustment recognized in comprehensive income | (186) | (3,473) | 6,008 |
Euro | |||
Other comprehensive income | |||
Currency translation adjustment generated by the parent company | (1,533) | (4,022) | 9,316 |
Currency translation adjustment | 636 | 1,883 | (3,275) |
Currency translation adjustment of equity affiliates | 149 | 343 | (1,099) |
Total currency translation adjustment recognized in comprehensive income | (748) | (1,796) | 4,943 |
Pound Sterling | |||
Other comprehensive income | |||
Currency translation adjustment | 138 | (431) | 462 |
Currency translation adjustment of equity affiliates | (7) | 14 | (25) |
Total currency translation adjustment recognized in comprehensive income | 131 | (417) | 436 |
Ruble | |||
Other comprehensive income | |||
Currency translation adjustment | 7 | (10) | 3 |
Currency translation adjustment of equity affiliates | 530 | (805) | 207 |
Total currency translation adjustment recognized in comprehensive income | 537 | (815) | 210 |
Other currencies | |||
Other comprehensive income | |||
Currency translation adjustment | (41) | (329) | 232 |
Currency translation adjustment of equity affiliates | (65) | (116) | 187 |
Total currency translation adjustment recognized in comprehensive income | $ (106) | $ (445) | $ 419 |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Pre-tax amount | |||
Actuarial gains and losses | $ (192) | $ (12) | $ 823 |
Change in fair value of investments in equity instruments | 142 | ||
Currency translation adjustment generated by the parent company | (1,533) | (4,022) | 9,316 |
Sub-total items not potentially reclassifiable to profit and loss | (1,583) | (4,034) | 10,139 |
Currency translation adjustment | 740 | 1,113 | (2,578) |
Available for sale financial assets | 7 | ||
Cash flow hedge | (599) | 25 | 324 |
Variation of foreign currency basis spread | 1 | (80) | |
Share of other comprehensive income of equity affiliates, net amount | 408 | (540) | (677) |
Other | (3) | (5) | |
Sub-total items potentially reclassifiable to profit and loss | 547 | 513 | (2,924) |
Total other comprehensive income | (1,036) | (3,521) | 7,215 |
Tax effect | |||
Actuarial gains and losses | 55 | 13 | (390) |
Change in fair value of investments in equity instruments | (2) | ||
Sub-total items not potentially reclassifiable to profit and loss | 53 | 13 | (390) |
Available for sale financial assets | (3) | ||
Cash flow hedge | 202 | (6) | (97) |
Variation of foreign currency basis spread | 20 | ||
Sub-total items potentially reclassifiable to profit and loss | 202 | 14 | (100) |
Total other comprehensive income | 255 | 27 | (490) |
Net amount | |||
Actuarial gains and losses | (137) | 1 | 433 |
Change in fair value of investments in equity instruments | 140 | ||
Currency translation adjustment generated by the parent company | (1,533) | (4,022) | 9,316 |
Items not potentially reclassifiable to profit and loss | (1,530) | (4,021) | 9,749 |
Currency translation adjustment | 740 | 1,113 | (2,578) |
Available for sale financial assets | 4 | ||
Cash flow hedge | (397) | 19 | 227 |
Variation of foreign currency basis spread | 1 | (60) | |
Share of other comprehensive income of equity affiliates, net amount | 408 | (540) | (677) |
Other | (3) | (5) | |
Items potentially reclassifiable to profit and loss | 749 | 527 | (3,024) |
Total other comprehensive income (net amount) | $ (781) | $ (3,494) | $ 6,725 |
Shareholders' equity and sha_15
Shareholders' equity and share-based payments - Employee reserved capital increases (Details) | 12 Months Ended |
Dec. 31, 2019 | |
Restricted share plans | |
Share-based payments | |
Holding period for non-transferability of shares | 2 years |
Capital increase reserved for employees | |
Share-based payments | |
Holding period for non-transferability of shares | 5 years |
Shareholders' equity and sha_16
Shareholders' equity and share-based payments - TOTAL Option plans (Details) | Sep. 14, 2019EquityInstruments | Sep. 14, 2018EquityInstruments | Sep. 15, 2017EquityInstruments | Sep. 14, 2011€ / shares | Sep. 14, 2010€ / shares | Sep. 15, 2009€ / shares | Dec. 31, 2019EquityInstruments€ / shares | Dec. 31, 2018EquityInstruments€ / shares | Dec. 31, 2017EquityInstruments€ / shares |
Share-based payments | |||||||||
Weighted average exercise price as of the beginning of the year (in euros) | € / shares | € 33 | € 37.15 | € 38.16 | ||||||
Weighted average exercise price cancelled (in euros) | € / shares | 33 | 38.20 | 39.90 | ||||||
Weighted average exercise price exercised (in euros) | € / shares | € 33 | 37.64 | 38.95 | ||||||
Weighted average exercise price as of the end of the year (in euros) | € / shares | € 33 | € 37.15 | |||||||
TOTAL share subscription or purchase option plans | |||||||||
Share-based payments | |||||||||
Existing options as of the beginning of the year | 265,230 | 2,440,940 | 5,285,618 | ||||||
Cancelled (in shares) | (1,000) | (79,139) | (195,370) | ||||||
Exercised (in shares) | (264,230) | (2,096,571) | (2,649,308) | ||||||
Existing options as of the end of the year | 265,230 | 2,440,940 | |||||||
Vesting period | 2 years | ||||||||
Expiry period | 8 years | ||||||||
TOTAL share subscription or purchase option plans | French subsidiaries | |||||||||
Share-based payments | |||||||||
Transfer restriction period | 4 years | ||||||||
TOTAL share subscription or purchase option plans | Non-French subsidiaries | |||||||||
Share-based payments | |||||||||
Transfer restriction period | 2 years | ||||||||
TOTAL share subscription or purchase option plans - 2009 Plan | |||||||||
Share-based payments | |||||||||
Strike price or weighted average exercise price | € / shares | € 39.90 | ||||||||
Existing options as of the beginning of the year | 1,779,053 | ||||||||
Cancelled (in shares) | (195,370) | (195,370) | |||||||
Exercised (in shares) | (1,583,683) | ||||||||
TOTAL share subscription or purchase option plans - 2010 Plan | |||||||||
Share-based payments | |||||||||
Strike price or weighted average exercise price | € / shares | € 38.20 | ||||||||
Existing options as of the beginning of the year | 1,950,372 | 2,880,237 | |||||||
Cancelled (in shares) | (79,139) | (79,139) | |||||||
Exercised (in shares) | (1,871,233) | (929,865) | |||||||
Existing options as of the end of the year | 1,950,372 | ||||||||
TOTAL share subscription or purchase option plans - 2011 Plan | |||||||||
Share-based payments | |||||||||
Strike price or weighted average exercise price | € / shares | € 33 | ||||||||
Existing options as of the beginning of the year | 265,230 | 490,568 | 626,328 | ||||||
Cancelled (in shares) | (1,000) | (1,000) | |||||||
Exercised (in shares) | (264,230) | (225,338) | (135,760) | ||||||
Existing options as of the end of the year | 265,230 | 490,568 |
Shareholders' equity and sha_17
Shareholders' equity and share-based payments - TOTAL performance share plans (Details) | 12 Months Ended | ||||||||
Dec. 31, 2019itemEquityInstruments$ / bbl | Dec. 31, 2018EquityInstruments | Dec. 31, 2017EquityInstruments | Mar. 13, 2019EUR (€) | Mar. 14, 2018EUR (€) | Jul. 26, 2017EUR (€) | Jul. 27, 2016EUR (€) | Jul. 28, 2015EUR (€) | Jul. 29, 2014EUR (€) | |
TOTAL performance share plans | |||||||||
Share-based payments | |||||||||
Number outstanding as of the beginning of the period | 17,264,934 | 15,983,444 | 14,732,795 | ||||||
Notified (in shares) | 6,447,069 | 6,083,145 | 5,679,949 | ||||||
Cancelled (in shares) | (1,389,118) | (722,398) | (2,219,260) | ||||||
Finally granted (in shares) | (4,278,948) | (4,079,257) | (2,210,040) | ||||||
Number outstanding as of the end of the period | 18,043,937 | 17,264,934 | 15,983,444 | ||||||
Vesting period | 3 years | ||||||||
Holding period for non-transferability of shares | 2 years | ||||||||
TOTAL performance share plans - 2014 Plan | |||||||||
Share-based payments | |||||||||
Grant date IFRS 2 fair value | € | € 44.66 | ||||||||
Number outstanding as of the beginning of the period | 4,364,500 | ||||||||
Cancelled (in shares) | (2,157,820) | ||||||||
Finally granted (in shares) | (2,206,680) | ||||||||
Number of performance conditions | item | 1 | ||||||||
TOTAL performance share plans - 2015 Plan | |||||||||
Share-based payments | |||||||||
Grant date IFRS 2 fair value | € | € 35.90 | ||||||||
Number outstanding as of the beginning of the period | 4,697,305 | 4,730,735 | |||||||
Cancelled (in shares) | (621,568) | (31,480) | |||||||
Finally granted (in shares) | (4,075,737) | (1,950) | |||||||
Number outstanding as of the end of the period | 4,697,305 | ||||||||
Number of performance conditions | item | 2 | ||||||||
TOTAL performance share plans - 2016 Plan | |||||||||
Share-based payments | |||||||||
Grant date IFRS 2 fair value | € | € 35.37 | ||||||||
Number outstanding as of the beginning of the period | 5,543,220 | 5,607,100 | 5,637,560 | ||||||
Cancelled (in shares) | (1,267,392) | (61,840) | (29,050) | ||||||
Finally granted (in shares) | (4,275,828) | (2,040) | (1,410) | ||||||
Number outstanding as of the end of the period | 5,543,220 | 5,607,100 | |||||||
Number of performance conditions | item | 2 | ||||||||
TOTAL performance share plans - 2017 Plan | |||||||||
Share-based payments | |||||||||
Grant date IFRS 2 fair value | € | € 35.57 | ||||||||
Number outstanding as of the beginning of the period | 5,650,919 | 5,679,039 | |||||||
Notified (in shares) | 5,679,949 | ||||||||
Cancelled (in shares) | (41,220) | (26,640) | (910) | ||||||
Finally granted (in shares) | (1,840) | (1,480) | |||||||
Number outstanding as of the end of the period | 5,607,859 | 5,650,919 | 5,679,039 | ||||||
Number of performance conditions | item | 2 | ||||||||
TOTAL performance share plans - 2018 Plan | |||||||||
Share-based payments | |||||||||
Grant date IFRS 2 fair value | € | € 36.22 | ||||||||
Number outstanding as of the beginning of the period | 6,070,795 | ||||||||
Notified (in shares) | 6,083,145 | ||||||||
Cancelled (in shares) | (41,260) | (12,350) | |||||||
Finally granted (in shares) | (1,100) | ||||||||
Number outstanding as of the end of the period | 6,028,435 | 6,070,795 | |||||||
Number of performance conditions | item | 2 | ||||||||
TOTAL performance share plans - 2019 Plan | |||||||||
Share-based payments | |||||||||
Grant date IFRS 2 fair value | € | € 40.11 | ||||||||
Notified (in shares) | 6,447,069 | ||||||||
Cancelled (in shares) | (39,246) | ||||||||
Finally granted (in shares) | (180) | ||||||||
Number outstanding as of the end of the period | 6,407,643 | ||||||||
Number of performance conditions | item | 3 | ||||||||
First number of shares granted to non-senior executives, not subject to performance conditions | 150 | ||||||||
Percentage of shares ranked against peers based on TSR criterion | 33.33% | ||||||||
Percentage of shares ranked against peers based on annual variation in netcash flow per share criterion | 33.33% | ||||||||
1st place: grant rate (as a percent) | 180.00% | ||||||||
2nd place: grant rate (as a percent) | 130.00% | ||||||||
3rd place: grant rate (as a percent) | 80.00% | ||||||||
4th and 5th places: grant rate (as a percent) | 0.00% | ||||||||
Percentage of shares for which pre-dividend organic cash breakeven criterion is assessed | 33.33% | ||||||||
Maximum breakeven for maximum grant to be reached | $ / bbl | 30 | ||||||||
Minimum breakeven for no grant | $ / bbl | 40 | ||||||||
Number of criteria | item | 3 | ||||||||
Number of grant rates averaged for each performance condition | item | 3 | ||||||||
Percentage of nearest rounding for performance conditions | 0.10% | ||||||||
Maximum average grant rate for each performance condition (as a percent) | 100.00% | ||||||||
Weight of each criterion in definitive grant date | 33.33% | ||||||||
Percentage of nearest rounding for definitive grant date rates | 0.10% |
Shareholders' equity and sha_18
Shareholders' equity and share-based payments - SunPower Plans (Details) shares in Millions, $ in Millions | 12 Months Ended | ||||
Dec. 31, 2019USD ($)planEquityInstrumentsshares | Dec. 31, 2018USD ($)EquityInstrumentsshares | Dec. 31, 2017USD ($)EquityInstrumentsshares | Dec. 31, 2016 | Dec. 31, 2015 | |
SunPower Plans | |||||
Share-based payments | |||||
Number of stock incentive plans | plan | 1 | ||||
Number of shares withheld to satisfy employees' tax obligations | shares | 0.8 | 0.7 | 0.6 | ||
2015 Plan (SunPower) | |||||
Share-based payments | |||||
Maximum annual increase of awards | shares | 6 | ||||
Annual automatic increase in awards, as percent of the outstanding shares of the preceding fiscal year | 2.00% | 3.00% | |||
Shares available for grant | shares | 12.1 | ||||
2015 Plan (SunPower) | Low | |||||
Share-based payments | |||||
Vesting period | 3 years | ||||
2015 Plan (SunPower) | High | |||||
Share-based payments | |||||
Vesting period | 4 years | ||||
Stock options (SunPower) | |||||
Share-based payments | |||||
Options remaining outstanding | EquityInstruments | 0 | ||||
Number of share options exercisable in share-based payment arrangement | EquityInstruments | 0 | ||||
Intrinsic value of options exercised | $ | $ 0 | $ 0 | $ 1.7 | ||
Granted (in shares) | EquityInstruments | 0 | 0 | 0 | ||
Stock options (SunPower) | High | |||||
Share-based payments | |||||
Expiry period | 10 years |
Shareholders' equity and sha_19
Shareholders' equity and share-based payments - SunPower Restricted Stocks (Details) - Sun Power restricted stocks EquityInstruments in Thousands | 12 Months Ended | ||
Dec. 31, 2019USD ($)EquityInstruments | Dec. 31, 2018USD ($)EquityInstruments | Dec. 31, 2017USD ($)EquityInstruments | |
Share-based payments | |||
Number outstanding as of the beginning of the period | EquityInstruments | 7,660 | 7,293 | 6,147 |
Deferred contribution - Number of shares granted | EquityInstruments | 5,430 | 4,449 | 4,863 |
Shares vested | EquityInstruments | (2,460) | (2,266) | (1,738) |
Shares forfeited | EquityInstruments | (1,304) | (1,816) | (1,979) |
Number outstanding as of the end of the period | EquityInstruments | 9,326 | 7,660 | 7,293 |
Weighted-average grant date fair value of outstanding shares as of the beginning of the period | $ | $ 9.11 | $ 11.83 | $ 21.85 |
Weighted-average grant date fair value of granted shares | $ | 6.82 | 7.77 | 6.76 |
Weighted-average grant date fair value of vested shares | $ | 9.65 | 14.45 | 25.87 |
Weighted-average grant date fair value of forfeited shares | $ | 8.28 | 10.10 | 18.15 |
Weighted-average grant date fair value of outstanding shares as of the end of the period | $ | $ 7.75 | $ 9.11 | $ 11.83 |
Shareholders' equity and sha_20
Shareholders' equity and share-based payments - Expense (Details) $ in Thousands | Jun. 06, 2019€ / sharesshares | May 03, 2018€ / sharesshares | Apr. 26, 2017€ / sharesshares | Dec. 31, 2019€ / shares | Dec. 31, 2019USD ($)shares | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) |
Share-based payments | |||||||
Share-based expense | $ 233,000 | $ 315,000 | $ 182,000 | ||||
TOTAL performance share plans | |||||||
Share-based payments | |||||||
Share-based expense | 180,000 | 264,000 | 135,000 | ||||
SunPower Plans | |||||||
Share-based payments | |||||||
Share-based expense | 26,000 | 21,000 | 31,000 | ||||
Capital increase reserved for employees | |||||||
Share-based payments | |||||||
Share-based expense | $ 27,000 | $ 30,000 | $ 16,000 | ||||
Assumptions used for the valuation of the cost of the capital | |||||||
Subscription price | € / shares | € 40.10 | € 37.20 | € 38.10 | ||||
Share price at the reference date | € / shares | € 49.91 | ||||||
Number of shares | shares | 9,845,111 | 9,174,817 | 9,350,220 | 10,050,000 | |||
Risk-free interest rate (as a percent) | (0.419%) | ||||||
Employees loan financing rate (as a percent) | 4.11% | ||||||
Non-transferability cost (as a percent) | 19.21% | ||||||
Trading period to determine subscription price | 20 days | ||||||
Subscription price discount (as a percent) | 20.00% | ||||||
Euro swap rate term for risk-free interest rate | 5 years | ||||||
Consumer's credit rate term for employees loan financing rate | 5 years |
Payroll, staff and employee b_3
Payroll, staff and employee benefits obligations - Liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Employee benefits obligations | |||
Restructuring reserves (early retirement plans) | $ 108 | $ 149 | $ 153 |
Total | 3,501 | 3,363 | 3,735 |
Pension benefits | |||
Employee benefits obligations | |||
Pension benefits and other benefits liabilities | 2,651 | 2,545 | 2,877 |
Other benefits | |||
Employee benefits obligations | |||
Pension benefits and other benefits liabilities | $ 742 | $ 669 | $ 705 |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Payroll, staff and employee benefits obligations | |||
Charge recognized for defined contribution plans | $ 133 | $ 130 | $ 128 |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Euro zone | |||
Change in benefit obligations and plan assets | |||
Contribution for the net pension liability in the balance sheet (as a percent) | 70.00% | ||
United Kingdom | |||
Change in benefit obligations and plan assets | |||
Contribution for the net pension liability in the balance sheet (as a percent) | 11.00% | ||
United States | |||
Change in benefit obligations and plan assets | |||
Contribution for the net pension liability in the balance sheet (as a percent) | 16.00% | ||
Pension benefits | |||
Change in benefit obligations and plan assets | |||
Balance at beginning of period | $ 2,384 | $ 2,707 | |
Balance at end of period | 2,550 | 2,384 | $ 2,707 |
Unfunded status | 2,516 | 2,356 | 2,667 |
Pension benefits and other benefits liabilities | 2,651 | 2,545 | 2,877 |
Other non-current assets | (101) | (161) | (170) |
Pension benefits | Benefit obligation | |||
Change in benefit obligations and plan assets | |||
Balance at beginning of period | 11,501 | 12,872 | 12,164 |
Current service cost | 214 | 236 | 263 |
Interest cost (income) | 295 | 296 | 320 |
Past service cost | 4 | (1) | 239 |
Settlements | (20) | (141) | (1) |
Plan participants' contributions | 7 | 8 | 7 |
Benefits paid | (667) | (902) | (717) |
Actuarial losses (gains) | 847 | (372) | (450) |
Foreign currency translation and other | 104 | (495) | 1,047 |
Balance at end of period | 12,285 | 11,501 | 12,872 |
Pension benefits | Benefit obligation | Plans entirely or partially funded | |||
Change in benefit obligations and plan assets | |||
Balance at beginning of period | 10,864 | 12,140 | |
Balance at end of period | 11,584 | 10,864 | 12,140 |
Pension benefits | Benefit obligation | Plans not funded | |||
Change in benefit obligations and plan assets | |||
Balance at beginning of period | 637 | 732 | |
Balance at end of period | 701 | 637 | 732 |
Pension benefits | Plan assets | |||
Change in benefit obligations and plan assets | |||
Balance at beginning of period | (9,145) | (10,205) | (9,123) |
Interest cost (income) | (255) | (261) | (256) |
Settlements | 11 | 129 | |
Plan participants' contributions | (7) | (8) | (7) |
Employer contributions | (172) | (417) | (171) |
Benefits paid | 573 | 778 | 591 |
Actuarial losses (gains) | (745) | 424 | (344) |
Foreign currency translation and other | (29) | 415 | (895) |
Balance at end of period | (9,769) | (9,145) | (10,205) |
Pension benefits | Asset ceiling | |||
Change in benefit obligations and plan assets | |||
Balance at beginning of period | 28 | 40 | |
Balance at end of period | 34 | 28 | 40 |
Other benefits | |||
Change in benefit obligations and plan assets | |||
Balance at beginning of period | 669 | 705 | |
Balance at end of period | 742 | 669 | 705 |
Unfunded status | 742 | 669 | 705 |
Pension benefits and other benefits liabilities | 742 | 669 | 705 |
Other benefits | Benefit obligation | |||
Change in benefit obligations and plan assets | |||
Balance at beginning of period | 669 | 705 | 648 |
Current service cost | 13 | 14 | 16 |
Interest cost (income) | 17 | 17 | 17 |
Past service cost | (2) | 12 | |
Settlements | (9) | ||
Benefits paid | (26) | (28) | (27) |
Actuarial losses (gains) | 87 | (29) | (36) |
Foreign currency translation and other | (9) | (8) | 75 |
Balance at end of period | 742 | 669 | 705 |
Other benefits | Benefit obligation | Plans not funded | |||
Change in benefit obligations and plan assets | |||
Balance at beginning of period | 669 | 705 | |
Balance at end of period | $ 742 | $ 669 | $ 705 |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Actuarial (Gains) Losses | |||
Benefit amounts recognized on Equity | $ 192 | $ 12 | $ (823) |
Pension benefits | |||
Employee benefits obligations | |||
Current service cost | 214 | 236 | 263 |
Past service cost | 4 | (1) | 239 |
Settlements | (10) | (12) | (1) |
Net interest cost | 39 | 35 | 64 |
Benefit amounts recognized on Profit & Loss | 247 | 258 | 565 |
Actuarial (Gains) Losses | |||
Effect of changes in demographic assumptions | (166) | (1) | (16) |
Effect of changes in financial assumptions | 1,071 | (354) | (241) |
Effect of experience adjustments | (59) | (17) | (193) |
Actual return on plan assets | (745) | 424 | (344) |
Effect of asset ceiling | 3 | (11) | 7 |
Benefit amounts recognized on Equity | 104 | 41 | (787) |
Total benefit amounts recognized on comprehensive income | 351 | 299 | (222) |
Other benefits | |||
Employee benefits obligations | |||
Current service cost | 13 | 14 | 16 |
Past service cost | (2) | 12 | |
Settlements | (9) | ||
Net interest cost | 17 | 17 | 17 |
Benefit amounts recognized on Profit & Loss | 21 | 29 | 45 |
Actuarial (Gains) Losses | |||
Effect of changes in demographic assumptions | (2) | (21) | 3 |
Effect of changes in financial assumptions | 89 | (3) | (5) |
Effect of experience adjustments | (5) | (34) | |
Benefit amounts recognized on Equity | 87 | $ (29) | (36) |
Total benefit amounts recognized on comprehensive income | $ 108 | $ 9 |
Payroll, staff and employee b_7
Payroll, staff and employee benefits obligations - Expected future cash outflows (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Pension benefits | |
Employee benefits obligations | |
Weighted average duration of accrued benefits | 13 years |
Expected contributions in respect of funded pension plans in 2019 | $ 239 |
Pension benefits | Not later than one year | |
Employee benefits obligations | |
Estimated future payments | 741 |
Pension benefits | Year 2 | |
Employee benefits obligations | |
Estimated future payments | 497 |
Pension benefits | Year 3 | |
Employee benefits obligations | |
Estimated future payments | 467 |
Pension benefits | Year 4 | |
Employee benefits obligations | |
Estimated future payments | 414 |
Pension benefits | Year 5 | |
Employee benefits obligations | |
Estimated future payments | 399 |
Pension benefits | Year 5 through 10 | |
Employee benefits obligations | |
Estimated future payments | $ 2,142 |
Other benefits | |
Employee benefits obligations | |
Weighted average duration of accrued benefits | 18 years |
Other benefits | Not later than one year | |
Employee benefits obligations | |
Estimated future payments | $ 27 |
Other benefits | Year 2 | |
Employee benefits obligations | |
Estimated future payments | 27 |
Other benefits | Year 3 | |
Employee benefits obligations | |
Estimated future payments | 27 |
Other benefits | Year 4 | |
Employee benefits obligations | |
Estimated future payments | 26 |
Other benefits | Year 5 | |
Employee benefits obligations | |
Estimated future payments | 26 |
Other benefits | Year 5 through 10 | |
Employee benefits obligations | |
Estimated future payments | $ 120 |
Payroll, staff and employee b_8
Payroll, staff and employee benefits obligations - Type of assets (Details) - Pension benefits | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Asset allocation | |||
Equity securities | 25.00% | 24.00% | 26.00% |
Debt securities | 46.00% | 47.00% | 43.00% |
Monetary | 1.00% | 1.00% | 3.00% |
Annuity contracts | 20.00% | 20.00% | 20.00% |
Real estate | 8.00% | 8.00% | 8.00% |
Payroll, staff and employee b_9
Payroll, staff and employee benefits obligations - Actuarial assumptions (Details) | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Pension benefits | |||
Assumptions used to determine benefits obligations | |||
Discount rate (as a percent) | 1.84% | 2.68% | 2.48% |
Inflation rate (as a percent) | 2.20% | 2.44% | 2.40% |
Pension benefits | Euro zone | |||
Assumptions used to determine benefits obligations | |||
Discount rate (as a percent) | 0.73% | 1.72% | 1.71% |
Inflation rate (as a percent) | 1.21% | 1.50% | 1.50% |
Pension benefits | United States | |||
Assumptions used to determine benefits obligations | |||
Discount rate (as a percent) | 3.25% | 4.00% | 3.75% |
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) | 2.25% | 3.00% | 2.50% |
Inflation rate (as a percent) | 3.25% | 3.50% | 3.50% |
Other benefits | |||
Assumptions used to determine benefits obligations | |||
Discount rate (as a percent) | 1.71% | 2.56% | 2.52% |
Other benefits | Euro zone | |||
Assumptions used to determine benefits obligations | |||
Discount rate (as a percent) | 0.94% | 1.87% | 1.93% |
Other benefits | United States | |||
Assumptions used to determine benefits obligations | |||
Discount rate (as a percent) | 3.25% | 4.00% | 3.75% |
Payroll, staff and employee _10
Payroll, staff and employee benefits obligations - Sensitivity analysis (Details) $ in Millions | Dec. 31, 2019USD ($) |
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 | $ (821) |
Impact on benefit obligation from decrease in actuarial assumption | $ 915 |
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 | $ 576 |
Impact on benefit obligation from decrease in actuarial assumption | $ (516) |
Payroll, staff and employee _11
Payroll, staff and employee benefits obligations - Payroll and staff (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019USD ($)employee | Dec. 31, 2018USD ($)employee | Dec. 31, 2017USD ($)employee | |
Personnel expenses | |||
Wages and salaries (including social charges) | $ | $ 8,922 | $ 9,099 | $ 7,985 |
Group employees | |||
Total | 107,776 | 104,460 | 98,277 |
France | |||
Group employees | |||
Management | 13,745 | 13,377 | 11,880 |
Other | 22,531 | 22,629 | 19,372 |
International | |||
Group employees | |||
Management | 16,924 | 16,963 | 16,489 |
Other | 54,576 | 51,491 | 50,536 |
Income taxes - Current and defe
Income taxes - Current and deferred (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income taxes | |||
Current income taxes | $ (5,469) | $ (6,971) | $ (3,416) |
Deferred income taxes | (403) | 455 | 387 |
Total income taxes | $ (5,872) | $ (6,516) | $ (3,029) |
Income taxes - Deferred tax bal
Income taxes - Deferred tax balances (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Deferred tax assets and liabilities | ||||
Net deferred tax liability | $ (5,642) | $ (4,827) | $ (5,622) | $ (6,692) |
Net operating losses and tax carry forwards | ||||
Deferred tax assets and liabilities | ||||
Deferred tax asset | 3,752 | 3,779 | 3,014 | |
Employee benefits | ||||
Deferred tax assets and liabilities | ||||
Deferred tax asset | 970 | 995 | 1,153 | |
Other temporary non-deductible provisions or tax deductions | ||||
Deferred tax assets and liabilities | ||||
Deferred tax asset | 8,660 | 8,409 | 6,344 | |
Deferred tax liability | (2,995) | (2,541) | (2,746) | |
Differences in depreciations | ||||
Deferred tax assets and liabilities | ||||
Deferred tax liability | $ (16,029) | $ (15,469) | $ (13,387) |
Income taxes - Deferred tax ass
Income taxes - Deferred tax assets not recognized (Details) $ in Millions | Dec. 31, 2019USD ($) |
Deferred tax assets and liabilities | |
Undistributed reserves of subsidiaries for which no deferred tax liability is recognized | $ 11,197 |
Unrecognised deferred tax assets | 3,479 |
France | |
Deferred tax assets and liabilities | |
Unrecognised deferred tax assets | 1,145 |
United States | |
Deferred tax assets and liabilities | |
Unrecognised deferred tax assets | 319 |
Nigeria | |
Deferred tax assets and liabilities | |
Unrecognised deferred tax assets | 303 |
Canada | |
Deferred tax assets and liabilities | |
Unrecognised deferred tax assets | $ 206 |
Income taxes - Deferred tax b_2
Income taxes - Deferred tax balance sheet presentation (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Deferred taxes presented on the balance sheet | ||||
Deferred tax assets | $ 6,216 | $ 6,663 | $ 5,206 | |
Deferred tax liabilities | (11,858) | (11,490) | (10,828) | |
Net deferred tax liability | $ (5,642) | $ (4,827) | $ (5,622) | $ (6,692) |
Income taxes - Deferred tax var
Income taxes - Deferred tax variation (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Reconciliation of deferred tax variation | |||
Opening balance | $ (4,827) | $ (5,622) | $ (6,692) |
Deferred tax on income | (403) | 455 | 387 |
Deferred tax on shareholders' equity | 255 | 27 | (490) |
Changes in scope of consolidation and others | (695) | 151 | 1,154 |
Currency translation adjustment | 28 | 162 | 19 |
Closing balance | $ (5,642) | $ (4,827) | $ (5,622) |
Income taxes - Reconciliation (
Income taxes - Reconciliation (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Reconciliation between provision for income taxes and pre-tax income | |||
Consolidated net income | $ 11,438 | $ 11,550 | $ 8,299 |
Provision for income taxes | 5,872 | 6,516 | 3,029 |
Pre-tax income | $ 17,310 | $ 18,066 | $ 11,328 |
French statutory tax rate (as a percent) | 34.43% | 34.43% | 44.43% |
Theoretical tax charge | $ (5,960) | $ (6,220) | $ (5,033) |
Difference between French and foreign income tax rates | (2,007) | (3,058) | (633) |
Tax effect on equity in income (loss) of affiliates | 1,173 | 1,080 | 888 |
Permanent differences | 1,422 | 1,740 | 1,491 |
Adjustments on prior years income taxes | 12 | (40) | (91) |
Adjustments on deferred tax related to changes in tax rates | (270) | 2 | (309) |
Changes in valuation allowance of deferred tax assets | (242) | (20) | 658 |
Total income taxes | $ (5,872) | $ (6,516) | $ (3,029) |
Standard corporate tax rate (as a percent) | 33.33% | 33.33% | 33.33% |
Income taxes - Carried forward
Income taxes - Carried forward tax credits (Details) - Net operating losses and tax carry forwards - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Deferred tax assets and liabilities | |||
Deferred tax assets | $ 3,752 | $ 3,779 | $ 3,014 |
Australia | |||
Deferred tax assets and liabilities | |||
Deferred tax assets | 1,057 | ||
United States | |||
Deferred tax assets and liabilities | |||
Deferred tax assets | 715 | ||
Canada | |||
Deferred tax assets and liabilities | |||
Deferred tax assets | 675 | ||
France | |||
Deferred tax assets and liabilities | |||
Deferred tax assets | 520 | ||
United Kingdom | |||
Deferred tax assets and liabilities | |||
Deferred tax assets | 313 | ||
Not later than one year | |||
Deferred tax assets and liabilities | |||
Deferred tax assets | 71 | 90 | 75 |
Year 2 | |||
Deferred tax assets and liabilities | |||
Deferred tax assets | 48 | 70 | 64 |
Year 3 | |||
Deferred tax assets and liabilities | |||
Deferred tax assets | 27 | 38 | 60 |
Year 4 | |||
Deferred tax assets and liabilities | |||
Deferred tax assets | 19 | 32 | 24 |
Year 5 and after | |||
Deferred tax assets and liabilities | |||
Deferred tax assets | 1,310 | 1,423 | 1,330 |
Year 5 and after | United States | |||
Deferred tax assets and liabilities | |||
Deferred tax assets | 595 | ||
Year 5 and after | Canada | |||
Deferred tax assets and liabilities | |||
Deferred tax assets | 675 | ||
Unlimited | |||
Deferred tax assets and liabilities | |||
Deferred tax assets | 2,277 | $ 2,126 | $ 1,461 |
Unlimited | Australia | |||
Deferred tax assets and liabilities | |||
Deferred tax assets | 1,057 | ||
Unlimited | United States | |||
Deferred tax assets and liabilities | |||
Deferred tax assets | 120 | ||
Unlimited | France | |||
Deferred tax assets and liabilities | |||
Deferred tax assets | 520 | ||
Unlimited | United Kingdom | |||
Deferred tax assets and liabilities | |||
Deferred tax assets | $ 313 |
Provisions and other non-curr_3
Provisions and other non-current liabilities - Components (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Provisions and other non-current liabilities | ||||
Other non-current liabilities | $ 2,066 | $ 2,404 | $ 706 | |
Total | 20,613 | 21,432 | 15,986 | $ 16,846 |
Litigations and accrued penalty claims | ||||
Provisions and other non-current liabilities | ||||
Provisions | 386 | 736 | 706 | |
Litigations and accrued penalty claims | Exploration & Production | ||||
Provisions and other non-current liabilities | ||||
Provisions | 286 | 510 | 458 | |
Provisions for environmental contingencies | ||||
Provisions and other non-current liabilities | ||||
Provisions | 742 | 862 | 964 | |
Asset retirement obligations | ||||
Provisions and other non-current liabilities | ||||
Provisions | 14,492 | 14,286 | 12,240 | $ 12,665 |
Other non-current provisions | ||||
Provisions and other non-current liabilities | ||||
Provisions | 2,927 | 3,144 | 1,370 | |
Restructuring activities | ||||
Provisions and other non-current liabilities | ||||
Provisions | 135 | 134 | 160 | |
Financial risks related to non-consolidated and equity consolidated affiliates | ||||
Provisions and other non-current liabilities | ||||
Provisions | 130 | 100 | 59 | |
Contingency reserve on solar panels warranties (Sunpower) | ||||
Provisions and other non-current liabilities | ||||
Provisions | $ 140 | $ 173 | $ 177 |
Provisions and other non-curr_4
Provisions and other non-current liabilities - Changes (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Changes in provisions and other non-current liabilities | |||
Balance as of the beginning of the period | $ 21,432 | $ 15,986 | $ 16,846 |
Allowances | 1,248 | 2,416 | 1,172 |
Reversals | (2,414) | (1,378) | (1,612) |
Currency translation adjustment | (33) | (519) | 681 |
Other | 380 | 4,927 | (1,101) |
Balance as of the end of the period | 20,613 | 21,432 | 15,986 |
Asset retirement obligations | |||
Changes in provisions and other non-current liabilities | |||
Allowances | 639 | 530 | 544 |
Reversals | (460) | (320) | (330) |
Provisions for environmental contingencies | |||
Changes in provisions and other non-current liabilities | |||
Allowances | 30 | 33 | 37 |
Reversals | (92) | (111) | (120) |
Restructuring activities | |||
Changes in provisions and other non-current liabilities | |||
Allowances | 60 | 149 | 48 |
Reversals | $ (122) | $ (106) | $ (84) |
Provisions and other non-curr_5
Provisions and other non-current liabilities - Asset retirement obligation (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Asset Retirement Obligation | |||
Discount rate for valuation of asset retirement obligation (as a percent) | 4.50% | 4.50% | 4.50% |
Inflation rate for valuation of asset retirement obligation (as a percent) | 2.00% | 2.00% | 2.00% |
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 | $ 1,250 | ||
Impact on following years net income for decrease in discount rate | (74) | ||
Changes in the asset retirement obligation | |||
Balance as of the beginning of the period | 14,286 | $ 12,240 | $ 12,665 |
Accretion | 639 | 530 | 544 |
Revision in estimates | (601) | (458) | (1,107) |
New obligations | 567 | 811 | 334 |
Spending on existing obligations | (460) | (320) | (330) |
Currency translation adjustment | 47 | (364) | 448 |
Other | 14 | 1,847 | (314) |
Balance as of the end of the period | $ 14,492 | $ 14,286 | $ 12,240 |
Off balance sheet commitments_3
Off balance sheet commitments and lease contracts - Off balance sheet commitments and contingencies (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Off Balance sheet commitments and lease contracts | |||
Non-current debt obligations net of hedging instruments | $ 40,931 | $ 37,784 | $ 39,544 |
Current portion of non-current debt obligations net of hedging instruments | 5,331 | 5,027 | 4,646 |
Lease obligations | 7,465 | ||
Finance lease obligations | 1,878 | 1,156 | |
Asset retirement obligations | 14,492 | 14,286 | 12,240 |
Contractual obligations recorded in the balance sheet | 68,219 | 58,975 | 57,586 |
Lease obligations for low value assets, short term contracts or not yet commenced | 2,077 | ||
Operating lease obligations | 9,130 | 6,441 | |
Purchase obligations | 147,516 | 121,119 | 86,366 |
Contractual obligations not recorded in the balance sheet | 149,593 | 130,249 | 92,807 |
Total of contractual obligations | 217,812 | 189,224 | 150,393 |
Other commitments given | 54,184 | 62,673 | 43,391 |
Mortgages and liens received | 85 | 84 | 89 |
Sales obligations | 93,441 | 91,695 | 67,014 |
Other commitments received | 22,358 | 21,565 | 7,398 |
Total of commitments received | 115,884 | 113,344 | 74,501 |
Commitments given relating to joint ventures | 39,055 | 42,768 | 36,847 |
Commitments given relating to associates | 31,465 | 39,437 | 20,629 |
Non-current lease obligations | 6,263 | ||
Current portion of lease obligations | 1,202 | ||
Not later than one year | |||
Off Balance sheet commitments and lease contracts | |||
Current portion of non-current debt obligations net of hedging instruments | 5,331 | 5,027 | 4,646 |
Lease obligations | 1,202 | ||
Finance lease obligations | 213 | 39 | |
Asset retirement obligations | 617 | 844 | 485 |
Contractual obligations recorded in the balance sheet | 7,150 | 6,084 | 5,170 |
Lease obligations for low value assets, short term contracts or not yet commenced | 536 | ||
Operating lease obligations | 1,644 | 1,401 | |
Purchase obligations | 10,763 | 9,708 | 8,605 |
Contractual obligations not recorded in the balance sheet | 11,299 | 11,352 | 10,006 |
Total of contractual obligations | 18,449 | 17,436 | 15,176 |
Other commitments given | 9,867 | 8,792 | 7,505 |
Mortgages and liens received | 23 | 23 | 23 |
Sales obligations | 7,135 | 7,989 | 6,263 |
Other commitments received | 16,845 | 15,527 | 3,549 |
Total of commitments received | 24,003 | 23,539 | 9,835 |
Commitments given relating to joint ventures | 461 | 162 | 160 |
Commitments given relating to associates | 913 | 773 | 580 |
Between 1 and 5 years | |||
Off Balance sheet commitments and lease contracts | |||
Non-current debt obligations net of hedging instruments | 19,888 | 19,072 | 19,540 |
Lease obligations | 2,883 | ||
Finance lease obligations | 468 | 261 | |
Asset retirement obligations | 3,153 | 3,388 | 2,165 |
Contractual obligations recorded in the balance sheet | 25,924 | 22,928 | 21,966 |
Lease obligations for low value assets, short term contracts or not yet commenced | 879 | ||
Operating lease obligations | 3,690 | 2,887 | |
Purchase obligations | 38,189 | 30,652 | 23,917 |
Contractual obligations not recorded in the balance sheet | 39,068 | 34,343 | 26,803 |
Total of contractual obligations | 64,992 | 57,271 | 48,769 |
Other commitments given | 10,854 | 2,217 | 11,813 |
Mortgages and liens received | 37 | 33 | 26 |
Sales obligations | 31,330 | 27,709 | 21,513 |
Other commitments received | 1,705 | 1,328 | 1,111 |
Total of commitments received | 33,072 | 29,070 | 22,650 |
Commitments given relating to joint ventures | 11,822 | 4,425 | 12,225 |
Commitments given relating to associates | 8,381 | 8,378 | 5,991 |
More than 5 years | |||
Off Balance sheet commitments and lease contracts | |||
Non-current debt obligations net of hedging instruments | 21,043 | 18,712 | 20,004 |
Lease obligations | 3,380 | ||
Finance lease obligations | 1,197 | 856 | |
Asset retirement obligations | 10,722 | 10,054 | 9,590 |
Contractual obligations recorded in the balance sheet | 35,145 | 29,963 | 30,450 |
Lease obligations for low value assets, short term contracts or not yet commenced | 662 | ||
Operating lease obligations | 3,796 | 2,153 | |
Purchase obligations | 98,564 | 80,759 | 53,844 |
Contractual obligations not recorded in the balance sheet | 99,226 | 84,554 | 55,998 |
Total of contractual obligations | 134,371 | 114,517 | 86,448 |
Other commitments given | 33,463 | 51,664 | 24,073 |
Mortgages and liens received | 25 | 28 | 40 |
Sales obligations | 54,976 | 55,997 | 39,238 |
Other commitments received | 3,808 | 4,710 | 2,738 |
Total of commitments received | 58,809 | 60,735 | 42,016 |
Commitments given relating to joint ventures | 26,772 | 38,181 | 24,462 |
Commitments given relating to associates | 22,171 | 30,286 | 14,058 |
Guarantees given for excise taxes | |||
Off Balance sheet commitments and lease contracts | |||
Other commitments given | 2,012 | 2,043 | 2,073 |
Guarantees given for excise taxes | Not later than one year | |||
Off Balance sheet commitments and lease contracts | |||
Other commitments given | 1,876 | 1,904 | 1,938 |
Guarantees given for excise taxes | Between 1 and 5 years | |||
Off Balance sheet commitments and lease contracts | |||
Other commitments given | 17 | 12 | 29 |
Guarantees given for excise taxes | More than 5 years | |||
Off Balance sheet commitments and lease contracts | |||
Other commitments given | 119 | 127 | 106 |
Guarantees given against borrowings | |||
Off Balance sheet commitments and lease contracts | |||
Other commitments given | 14,510 | 18,680 | 16,080 |
Guarantees given against borrowings | Yemen LNG Company Limited | |||
Off Balance sheet commitments and lease contracts | |||
Other commitments given | 509 | 551 | |
Guarantees given against borrowings | Ichthys LNG PTY Limited | |||
Off Balance sheet commitments and lease contracts | |||
Other commitments given | 4,937 | 9,425 | |
Guarantees given against borrowings | Yamal LNG | |||
Off Balance sheet commitments and lease contracts | |||
Other commitments given | 3,688 | 3,875 | |
Guarantees given against borrowings | Bayport Polymers LLC | |||
Off Balance sheet commitments and lease contracts | |||
Other commitments given | 1,820 | 1,820 | |
Guarantees given against borrowings | Total Refining & Chemicals Saudi Arabia S.A.S. | |||
Off Balance sheet commitments and lease contracts | |||
Other commitments given | 1,184 | 1,462 | |
Guarantees given against borrowings | Not later than one year | |||
Off Balance sheet commitments and lease contracts | |||
Other commitments given | 306 | 169 | 411 |
Guarantees given against borrowings | Between 1 and 5 years | |||
Off Balance sheet commitments and lease contracts | |||
Other commitments given | 7,372 | 68 | 10,607 |
Guarantees given against borrowings | More than 5 years | |||
Off Balance sheet commitments and lease contracts | |||
Other commitments given | 6,832 | 18,443 | 5,062 |
Indemnities related to sales of businesses | |||
Off Balance sheet commitments and lease contracts | |||
Other commitments given | 331 | 334 | 341 |
Indemnities related to sales of businesses | Not later than one year | |||
Off Balance sheet commitments and lease contracts | |||
Other commitments given | 163 | 165 | 120 |
Indemnities related to sales of businesses | Between 1 and 5 years | |||
Off Balance sheet commitments and lease contracts | |||
Other commitments given | 16 | 10 | 61 |
Indemnities related to sales of businesses | More than 5 years | |||
Off Balance sheet commitments and lease contracts | |||
Other commitments given | 152 | 159 | 160 |
Guarantees of current liabilities | |||
Off Balance sheet commitments and lease contracts | |||
Other commitments given | 172 | 222 | 321 |
Guarantees of current liabilities | Not later than one year | |||
Off Balance sheet commitments and lease contracts | |||
Other commitments given | 79 | 83 | 91 |
Guarantees of current liabilities | Between 1 and 5 years | |||
Off Balance sheet commitments and lease contracts | |||
Other commitments given | 60 | 74 | 109 |
Guarantees of current liabilities | More than 5 years | |||
Off Balance sheet commitments and lease contracts | |||
Other commitments given | 33 | 65 | 121 |
Guarantees to customers / suppliers | |||
Off Balance sheet commitments and lease contracts | |||
Other commitments given | 12,318 | 8,463 | 4,180 |
Guarantees to customers / suppliers | Not later than one year | |||
Off Balance sheet commitments and lease contracts | |||
Other commitments given | 1,435 | 1,222 | 1,100 |
Guarantees to customers / suppliers | Between 1 and 5 years | |||
Off Balance sheet commitments and lease contracts | |||
Other commitments given | 2,169 | 847 | 268 |
Guarantees to customers / suppliers | More than 5 years | |||
Off Balance sheet commitments and lease contracts | |||
Other commitments given | 8,714 | 6,394 | 2,812 |
Letters of credit | |||
Off Balance sheet commitments and lease contracts | |||
Other commitments given | 2,786 | 3,515 | 2,965 |
Letters of credit | Not later than one year | |||
Off Balance sheet commitments and lease contracts | |||
Other commitments given | 2,768 | 3,164 | 2,680 |
Letters of credit | Between 1 and 5 years | |||
Off Balance sheet commitments and lease contracts | |||
Other commitments given | 18 | 160 | 102 |
Letters of credit | More than 5 years | |||
Off Balance sheet commitments and lease contracts | |||
Other commitments given | 191 | 183 | |
Other operating commitments | |||
Off Balance sheet commitments and lease contracts | |||
Other commitments given | 22,055 | 29,416 | 17,431 |
Other operating commitments | Not later than one year | |||
Off Balance sheet commitments and lease contracts | |||
Other commitments given | 3,240 | 2,085 | 1,165 |
Other operating commitments | Between 1 and 5 years | |||
Off Balance sheet commitments and lease contracts | |||
Other commitments given | 1,202 | 1,046 | 637 |
Other operating commitments | More than 5 years | |||
Off Balance sheet commitments and lease contracts | |||
Other commitments given | $ 17,613 | $ 26,285 | $ 15,629 |
Off balance sheet commitments_4
Off balance sheet commitments and lease contracts - Leases reconciliation (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Reconciliation between operating lease commitments under IAS 17 and IFRS 16 | |||
Operating lease obligations | $ 9,130 | $ 6,441 | |
Commitments relating to IFRS 16 exemptions: | |||
Lease obligations | $ 7,465 | ||
Finance lease liabilities | 1,878 | $ 1,156 | |
Increase/decrease due to application of IFRS 16 | |||
Commitments relating to IFRS 16 exemptions: | |||
Commitments for IFRS 16 exemptions | (417) | ||
Low value assets | (90) | ||
Short-term leases | (327) | ||
Leases not yet commenced at January 1, 2019 | (608) | ||
Commitments relating to service component of lease contracts | (760) | ||
Commitments relating to leases of non identified assets | (628) | ||
Variable lease payments | (6) | ||
Other impacts | 204 | ||
Impact of discounting | (1,360) | ||
Lease obligations | 5,555 | ||
After application of IFRS 16 | |||
Commitments relating to IFRS 16 exemptions: | |||
Lease obligations | $ 7,433 |
Off balance sheet commitments_5
Off balance sheet commitments and lease contracts - Leases (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Lease contracts | |||
Minimum lease payments for leases not recorded in balance sheet | $ 2,077 | ||
Minimum lease payments for leases recorded in balance sheet | 10,191 | ||
Less financial expenses | (2,726) | ||
Total lease liabilities | 7,465 | ||
Less current portion of lease contracts | (1,202) | ||
Non-current lease liabilities | 6,263 | ||
Total minimum operating lease payments | $ 9,130 | $ 6,441 | |
Total minimum finance lease payments | 2,812 | 1,204 | |
Less financial expenses | (934) | (48) | |
Nominal value of finance lease contracts | 1,878 | 1,156 | |
Less current portion of finance lease contracts | (213) | (39) | |
Non-current finance lease obligations | 1,665 | 1,117 | |
Rental expense | |||
Net rental expense incurred under short term leases or low value assets leases | 366 | ||
Net rental expense incurred under variable lease payments | 132 | ||
Net rental expense incurred under operating leases | 1,304 | 1,467 | |
Not later than one year | |||
Lease contracts | |||
Minimum lease payments for leases not recorded in balance sheet | 536 | ||
Minimum lease payments for leases recorded in balance sheet | 1,586 | ||
Total lease liabilities | 1,202 | ||
Total minimum operating lease payments | 1,644 | 1,401 | |
Total minimum finance lease payments | 263 | 76 | |
Nominal value of finance lease contracts | 213 | 39 | |
Year 2 | |||
Lease contracts | |||
Minimum lease payments for leases not recorded in balance sheet | 360 | ||
Minimum lease payments for leases recorded in balance sheet | 1,228 | ||
Total minimum operating lease payments | 1,282 | 988 | |
Total minimum finance lease payments | 183 | 67 | |
Year 3 | |||
Lease contracts | |||
Minimum lease payments for leases not recorded in balance sheet | 212 | ||
Minimum lease payments for leases recorded in balance sheet | 1,019 | ||
Total minimum operating lease payments | 967 | 814 | |
Total minimum finance lease payments | 182 | 67 | |
Year 4 | |||
Lease contracts | |||
Minimum lease payments for leases not recorded in balance sheet | 162 | ||
Minimum lease payments for leases recorded in balance sheet | 835 | ||
Total minimum operating lease payments | 772 | 623 | |
Total minimum finance lease payments | 179 | 65 | |
Year 5 | |||
Lease contracts | |||
Minimum lease payments for leases not recorded in balance sheet | 145 | ||
Minimum lease payments for leases recorded in balance sheet | 766 | ||
Total minimum operating lease payments | 669 | 462 | |
Total minimum finance lease payments | 179 | 65 | |
More than 5 years | |||
Lease contracts | |||
Minimum lease payments for leases not recorded in balance sheet | 662 | ||
Minimum lease payments for leases recorded in balance sheet | 4,757 | ||
Total lease liabilities | $ 3,380 | ||
Total minimum operating lease payments | 3,796 | 2,153 | |
Total minimum finance lease payments | 1,826 | 864 | |
Nominal value of finance lease contracts | $ 1,197 | $ 856 |
Financial assets and liabilit_3
Financial assets and liabilities analysis per instrument class and strategy (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | $ 70,341 | $ 67,768 | $ 72,163 |
Total non-financial assets | 202,953 | 188,994 | 170,468 |
Total assets | 273,294 | 256,762 | 242,631 |
Fair value, financial assets | 70,341 | 67,768 | 72,163 |
Total financial liabilities | (107,735) | (93,333) | (89,295) |
Total non-financial liabilities | (165,559) | (163,429) | (153,336) |
Total liabilities | (273,294) | (256,762) | (242,631) |
Fair value, financial liabilities | (110,883) | (94,485) | (90,840) |
Non-current financial debt | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (47,773) | (40,129) | (41,340) |
Fair value, financial liabilities | (50,921) | (41,281) | (42,886) |
Accounts payable | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (28,394) | (26,134) | (26,479) |
Fair value, financial liabilities | (28,394) | (26,134) | (26,479) |
Impact of offsetting on accounts payable | 2,073 | 2,903 | 3,471 |
Other operating liabilities | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (16,262) | (13,286) | (10,135) |
Fair value, financial liabilities | (16,262) | (13,286) | (10,135) |
Current borrowings | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (14,819) | (13,306) | (11,096) |
Fair value, financial liabilities | (14,819) | (13,306) | (11,095) |
Other current financial liabilities | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (487) | (478) | (245) |
Fair value, financial liabilities | (487) | (478) | (245) |
Loans to equity affiliates | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 3,999 | 4,755 | 5,135 |
Fair value, financial assets | 3,999 | 4,755 | 5,135 |
Other investments | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 1,778 | 1,421 | 1,727 |
Fair value, financial assets | 1,778 | 1,421 | 1,727 |
Non-current financial assets | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 912 | 680 | 679 |
Fair value, financial assets | 912 | 680 | 679 |
Other non-current assets | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 2,314 | 2,348 | 3,815 |
Fair value, financial assets | 2,314 | 2,348 | 3,815 |
Accounts receivable, net | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 18,488 | 17,270 | 14,893 |
Fair value, financial assets | 18,488 | 17,270 | 14,893 |
Impact of offsetting on accounts receivable | (2,073) | (2,903) | (3,471) |
Other operating receivables | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 11,506 | 9,733 | 9,336 |
Fair value, financial assets | 11,506 | 9,733 | 9,336 |
Current financial assets | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 3,992 | 3,654 | 3,393 |
Fair value, financial assets | 3,992 | 3,654 | 3,393 |
Cash and cash equivalents | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 27,352 | 27,907 | 33,185 |
Fair value, financial assets | 27,352 | 27,907 | 33,185 |
Amortised cost | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (100,175) | (87,514) | |
Amortised cost | Non-current financial debt | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (46,035) | (38,220) | |
Amortised cost | Accounts payable | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (28,394) | (26,134) | |
Amortised cost | Other operating liabilities | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (10,927) | (9,854) | |
Amortised cost | Current borrowings | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (14,819) | (13,306) | |
Fair value through P&L - liabilities | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (5,440) | (3,641) | |
Fair value through P&L - liabilities | Non-current financial debt | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (44) | (29) | |
Fair value through P&L - liabilities | Other operating liabilities | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (5,333) | (3,429) | |
Fair value through P&L - liabilities | Other current financial liabilities | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (63) | (183) | |
Fair value of hedging instruments | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (2,120) | (2,178) | |
Fair value of hedging instruments | Non-current financial debt | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (1,694) | (1,880) | |
Fair value of hedging instruments | Other operating liabilities | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (2) | (3) | |
Fair value of hedging instruments | Other current financial liabilities | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (424) | (295) | |
Amortized cost | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 62,900 | 62,810 | |
Amortized cost | Loans to equity affiliates | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 3,999 | 4,755 | |
Amortized cost | Non-current financial assets | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 164 | ||
Amortized cost | Other non-current assets | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 2,314 | 2,348 | |
Amortized cost | Accounts receivable, net | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 18,488 | 17,270 | |
Amortized cost | Other operating receivables | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 6,713 | 6,994 | |
Amortized cost | Current financial assets | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 3,870 | 3,536 | |
Amortized cost | Cash and cash equivalents | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 27,352 | 27,907 | |
Fair value through P&L - assets | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 6,421 | 3,930 | |
Fair value through P&L - assets | Other investments | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 1,272 | 1,059 | |
Fair value through P&L - assets | Non-current financial assets | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 236 | 67 | |
Fair value through P&L - assets | Other operating receivables | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 4,791 | 2,731 | |
Fair value through P&L - assets | Current financial assets | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 122 | 73 | |
Other Comprehensive Income | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 506 | 362 | |
Other Comprehensive Income | Other investments | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 506 | 362 | |
Fair value of hedging instruments | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 514 | 666 | |
Fair value of hedging instruments | Non-current financial assets | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 512 | 613 | |
Fair value of hedging instruments | Other operating receivables | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | $ 2 | 8 | |
Fair value of hedging instruments | Current financial assets | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | $ 45 | ||
Financial instruments related to financing and operational activities | Amortised cost | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (25,395) | ||
Financial instruments related to financing and operational activities | Amortised cost | Non-current financial debt | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (18,470) | ||
Financial instruments related to financing and operational activities | Amortised cost | Current borrowings | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (6,925) | ||
Financial instruments related to financing and operational activities | Held for trading - liabilities | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (1,902) | ||
Financial instruments related to financing and operational activities | Held for trading - liabilities | Non-current financial debt | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (20) | ||
Financial instruments related to financing and operational activities | Held for trading - liabilities | Other operating liabilities | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (1,794) | ||
Financial instruments related to financing and operational activities | Held for trading - liabilities | Other current financial liabilities | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (88) | ||
Financial instruments related to financing and operational activities | Financial debt | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (25,939) | ||
Financial instruments related to financing and operational activities | Financial debt | Non-current financial debt | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (21,768) | ||
Financial instruments related to financing and operational activities | Financial debt | Current borrowings | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (4,171) | ||
Financial instruments related to financing and operational activities | Fair value of hedging instruments | Hedging of financial debt (Fair value hedge) | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (1,108) | ||
Financial instruments related to financing and operational activities | Fair value of hedging instruments | Hedging of financial debt (Fair value hedge) | Non-current financial debt | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (951) | ||
Financial instruments related to financing and operational activities | Fair value of hedging instruments | Hedging of financial debt (Fair value hedge) | Other current financial liabilities | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (157) | ||
Financial instruments related to financing and operational activities | Fair value of hedging instruments | Cash flow hedge | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (131) | ||
Financial instruments related to financing and operational activities | Fair value of hedging instruments | Cash flow hedge | Non-current financial debt | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (131) | ||
Financial instruments related to financing and operational activities | Amortized cost | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 11,870 | ||
Financial instruments related to financing and operational activities | Amortized cost | Loans to equity affiliates | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 5,135 | ||
Financial instruments related to financing and operational activities | Amortized cost | Other non-current assets | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 3,765 | ||
Financial instruments related to financing and operational activities | Amortized cost | Current financial assets | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 2,970 | ||
Financial instruments related to financing and operational activities | Fair value of hedging instruments | Hedging of financial debt (Fair value hedge) | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 509 | ||
Financial instruments related to financing and operational activities | Fair value of hedging instruments | Hedging of financial debt (Fair value hedge) | Non-current financial assets | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 337 | ||
Financial instruments related to financing and operational activities | Fair value of hedging instruments | Hedging of financial debt (Fair value hedge) | Current financial assets | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 172 | ||
Financial instruments related to financing and operational activities | Fair value of hedging instruments | Cash flow hedge | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 281 | ||
Financial instruments related to financing and operational activities | Fair value of hedging instruments | Cash flow hedge | Non-current financial assets | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 269 | ||
Financial instruments related to financing and operational activities | Fair value of hedging instruments | Cash flow hedge | Other operating receivables | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 12 | ||
Financial instruments related to financing and operational activities | Available for sale | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 1,777 | ||
Financial instruments related to financing and operational activities | Available for sale | Other investments | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 1,727 | ||
Financial instruments related to financing and operational activities | Available for sale | Other non-current assets | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 50 | ||
Financial instruments related to financing and operational activities | Held for trading - assets | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 2,301 | ||
Financial instruments related to financing and operational activities | Held for trading - assets | Non-current financial assets | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 73 | ||
Financial instruments related to financing and operational activities | Held for trading - assets | Other operating receivables | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 1,977 | ||
Financial instruments related to financing and operational activities | Held for trading - assets | Current financial assets | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 251 | ||
Other financial instruments | Amortised cost | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (34,820) | ||
Other financial instruments | Amortised cost | Accounts payable | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (26,479) | ||
Other financial instruments | Amortised cost | Other operating liabilities | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial liabilities | (8,341) | ||
Other financial instruments | Amortized cost | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 55,425 | ||
Other financial instruments | Amortized cost | Accounts receivable, net | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 14,893 | ||
Other financial instruments | Amortized cost | Other operating receivables | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | 7,347 | ||
Other financial instruments | Amortized cost | Cash and cash equivalents | |||
Financial assets and liabilities analysis per instrument class and strategy | |||
Total financial assets | $ 33,185 |
Financial structure and finan_3
Financial structure and financial costs - Non-current financial debt and derivative financial instruments (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Financial structure, financial costs and financial instruments | |||
Non-current financial debt | $ 47,773 | $ 40,129 | $ 41,340 |
Non-current financial assets | (912) | (680) | (679) |
Non-current net financial debt and related financial instruments | 46,861 | 39,449 | 40,661 |
Variable rate bonds after fair value hedge | |||
Financial structure, financial costs and financial instruments | |||
Non-current net financial debt and related financial instruments | 19,340 | 20,570 | 20,620 |
Fixed rate bonds after cash flow hedge | |||
Financial structure, financial costs and financial instruments | |||
Non-current net financial debt and related financial instruments | 20,499 | 15,672 | 16,469 |
Other floating rate debt | |||
Financial structure, financial costs and financial instruments | |||
Non-current net financial debt and related financial instruments | 690 | 732 | 1,762 |
Other fixed rate debt | |||
Financial structure, financial costs and financial instruments | |||
Non-current net financial debt and related financial instruments | 425 | 848 | 746 |
Lease obligations | |||
Financial structure, financial costs and financial instruments | |||
Non-current net financial debt and related financial instruments | 6,263 | 1,665 | 1,117 |
Non-current financial asset | |||
Financial structure, financial costs and financial instruments | |||
Non-current net financial debt and related financial instruments | (333) | ||
Other financial instruments/held for trading | |||
Financial structure, financial costs and financial instruments | |||
Non-current net financial debt and related financial instruments | (23) | (38) | (53) |
Hedging instruments of non-current financial debt | |||
Financial structure, financial costs and financial instruments | |||
Non-current financial debt | 1,694 | 1,880 | 1,082 |
Non-current financial assets | (512) | (613) | (606) |
Secured | |||
Financial structure, financial costs and financial instruments | |||
Non-current financial debt | 6,438 | 1,870 | 1,310 |
Non-current financial assets | (164) | ||
Non-current net financial debt and related financial instruments | 6,274 | 1,870 | 1,310 |
Secured | Other floating rate debt | |||
Financial structure, financial costs and financial instruments | |||
Non-current net financial debt and related financial instruments | 72 | 111 | 70 |
Secured | Other fixed rate debt | |||
Financial structure, financial costs and financial instruments | |||
Non-current net financial debt and related financial instruments | 103 | 94 | 123 |
Secured | Lease obligations | |||
Financial structure, financial costs and financial instruments | |||
Non-current net financial debt and related financial instruments | 6,263 | 1,665 | 1,117 |
Secured | Non-current financial asset | |||
Financial structure, financial costs and financial instruments | |||
Non-current net financial debt and related financial instruments | (164) | ||
Unsecured | |||
Financial structure, financial costs and financial instruments | |||
Non-current financial debt | 41,335 | 38,259 | 40,030 |
Non-current financial assets | (748) | (680) | (679) |
Non-current net financial debt and related financial instruments | 40,587 | 37,579 | 39,351 |
Unsecured | Variable rate bonds after fair value hedge | |||
Financial structure, financial costs and financial instruments | |||
Non-current net financial debt and related financial instruments | 19,340 | 20,570 | 20,620 |
Unsecured | Fixed rate bonds after cash flow hedge | |||
Financial structure, financial costs and financial instruments | |||
Non-current net financial debt and related financial instruments | 20,499 | 15,672 | 16,469 |
Unsecured | Other floating rate debt | |||
Financial structure, financial costs and financial instruments | |||
Non-current net financial debt and related financial instruments | 618 | 621 | 1,692 |
Unsecured | Other fixed rate debt | |||
Financial structure, financial costs and financial instruments | |||
Non-current net financial debt and related financial instruments | 322 | 754 | 623 |
Unsecured | Non-current financial asset | |||
Financial structure, financial costs and financial instruments | |||
Non-current net financial debt and related financial instruments | (169) | ||
Unsecured | Other financial instruments/held for trading | |||
Financial structure, financial costs and financial instruments | |||
Non-current net financial debt and related financial instruments | (23) | (38) | (53) |
Unsecured | Hedging instruments of non-current financial debt | |||
Financial structure, financial costs and financial instruments | |||
Non-current financial debt | 1,694 | 1,880 | 1,082 |
Non-current financial assets | $ (512) | $ (613) | $ (606) |
Financial structure and finan_4
Financial structure and financial costs - Fair value of bonds (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Non-current financial debt | |||
Current portion (less than one year) | $ (11,314) | $ (10,130) | $ (7,948) |
Non-current financial debt and related financial instruments | 46,861 | 39,449 | 40,661 |
Bonds after fair value hedge | |||
Non-current financial debt | |||
Non-current financial debt and related financial instruments | 19,340 | 20,570 | 20,620 |
Bonds after cash flow hedge and fixed rate bonds | |||
Non-current financial debt | |||
Non-current financial debt and related financial instruments | 20,499 | 15,672 | 16,469 |
Principal Financing Entities | Bonds after fair value hedge | |||
Non-current financial debt | |||
Current portion (less than one year) | (3,661) | (3,679) | (4,156) |
Non-current financial debt and related financial instruments | 17,438 | 18,666 | 18,721 |
Principal Financing Entities | Bond after fair value hedge, USD | |||
Non-current financial debt | |||
Fair value after hedging | $ 6,276 | 6,276 | 7,266 |
Principal Financing Entities | Bond after fair value hedge, USD | Low | |||
Non-current financial debt | |||
Initial current rate before hedging instruments (as a percent) | 2.218% | ||
Principal Financing Entities | Bond after fair value hedge, USD | High | |||
Non-current financial debt | |||
Initial current rate before hedging instruments (as a percent) | 3.883% | ||
Principal Financing Entities | Bond after fair value hedge, USD, USLIBOR 3 months | |||
Non-current financial debt | |||
Fair value after hedging | $ 300 | 750 | 1,385 |
Principal Financing Entities | Bond after fair value hedge, USD, USLIBOR 3 months | USLIBOR | Low | |||
Non-current financial debt | |||
Initial current spread on variable rate basis, before hedging instruments (as a percent) | 0.75% | ||
Principal Financing Entities | Bond after fair value hedge, CHF | |||
Non-current financial debt | |||
Fair value after hedging | $ 410 | 204 | 391 |
Principal Financing Entities | Bond after fair value hedge, CHF | Low | |||
Non-current financial debt | |||
Initial current rate before hedging instruments (as a percent) | 0.176% | ||
Principal Financing Entities | Bond after fair value hedge, CHF | High | |||
Non-current financial debt | |||
Initial current rate before hedging instruments (as a percent) | 0.298% | ||
Principal Financing Entities | Bond after fair value hedge, NZD | |||
Non-current financial debt | |||
Fair value after hedging | $ 164 | 252 | 252 |
Principal Financing Entities | Bond after fair value hedge, NZD | Low | |||
Non-current financial debt | |||
Initial current rate before hedging instruments (as a percent) | 4.75% | ||
Principal Financing Entities | Bond after fair value hedge, NZD | High | |||
Non-current financial debt | |||
Initial current rate before hedging instruments (as a percent) | 5.00% | ||
Principal Financing Entities | Bond after fair value hedge, AUD | |||
Non-current financial debt | |||
Fair value after hedging | $ 378 | 699 | 850 |
Principal Financing Entities | Bond after fair value hedge, AUD | Low | |||
Non-current financial debt | |||
Initial current rate before hedging instruments (as a percent) | 4.00% | ||
Principal Financing Entities | Bond after fair value hedge, AUD | High | |||
Non-current financial debt | |||
Initial current rate before hedging instruments (as a percent) | 4.25% | ||
Principal Financing Entities | Bond after fair value hedge, Euro | |||
Non-current financial debt | |||
Fair value after hedging | $ 9,675 | 10,212 | 8,266 |
Principal Financing Entities | Bond after fair value hedge, Euro | Low | |||
Non-current financial debt | |||
Initial current rate before hedging instruments (as a percent) | 0.25% | ||
Principal Financing Entities | Bond after fair value hedge, Euro | High | |||
Non-current financial debt | |||
Initial current rate before hedging instruments (as a percent) | 3.125% | ||
Principal Financing Entities | Bond after fair value hedge, Euro, EURIBOR 3 months | |||
Non-current financial debt | |||
Fair value after hedging | $ 1,641 | 1,644 | 1,639 |
Principal Financing Entities | Bond after fair value hedge, Euro, EURIBOR 3 months | EURIBOR | Low | |||
Non-current financial debt | |||
Initial current spread on variable rate basis, before hedging instruments (as a percent) | 0.30% | ||
Principal Financing Entities | Bond after fair value hedge, Euro, EURIBOR 3 months | EURIBOR | High | |||
Non-current financial debt | |||
Initial current spread on variable rate basis, before hedging instruments (as a percent) | 0.31% | ||
Principal Financing Entities | Bond after fair value hedge, CAD | |||
Non-current financial debt | |||
Fair value after hedging | $ 92 | 93 | 188 |
Initial current rate before hedging instruments (as a percent) | 2.13% | ||
Principal Financing Entities | Bond after fair value hedge, GBP | |||
Non-current financial debt | |||
Fair value after hedging | $ 2,035 | 1,536 | 1,855 |
Principal Financing Entities | Bond after fair value hedge, GBP | Low | |||
Non-current financial debt | |||
Initial current rate before hedging instruments (as a percent) | 1.405% | ||
Principal Financing Entities | Bond after fair value hedge, GBP | High | |||
Non-current financial debt | |||
Initial current rate before hedging instruments (as a percent) | 2.25% | ||
Principal Financing Entities | Bond after fair value hedge, GBP, GBLIB3M | |||
Non-current financial debt | |||
Fair value after hedging | 472 | 470 | |
Principal Financing Entities | Bond after fair value hedge, NOK | |||
Non-current financial debt | |||
Fair value after hedging | 103 | ||
Principal Financing Entities | Bond after fair value hedge, HKD | |||
Non-current financial debt | |||
Fair value after hedging | $ 128 | 207 | 212 |
Initial current rate before hedging instruments (as a percent) | 2.92% | ||
Principal Financing Entities | Bonds after cash flow hedge and fixed rate bonds | |||
Non-current financial debt | |||
Current portion (less than one year) | $ (1,250) | (946) | (164) |
Non-current financial debt and related financial instruments | 19,829 | 14,910 | 15,886 |
Principal Financing Entities | Bond after cash flow hedge and fixed rate bond, EUR | |||
Non-current financial debt | |||
Fair value after hedging | $ 10,246 | 9,268 | 9,337 |
Principal Financing Entities | Bond after cash flow hedge and fixed rate bond, EUR | Low | |||
Non-current financial debt | |||
Initial current rate before hedging instruments (as a percent) | 0.696% | ||
Principal Financing Entities | Bond after cash flow hedge and fixed rate bond, EUR | High | |||
Non-current financial debt | |||
Initial current rate before hedging instruments (as a percent) | 5.125% | ||
Principal Financing Entities | Bond after cash flow hedge and fixed rate bond, USD | |||
Non-current financial debt | |||
Fair value after hedging | $ 8,565 | 5,040 | 5,000 |
Principal Financing Entities | Bond after cash flow hedge and fixed rate bond, USD | Low | |||
Non-current financial debt | |||
Initial current rate before hedging instruments (as a percent) | 2.041% | ||
Principal Financing Entities | Bond after cash flow hedge and fixed rate bond, USD | High | |||
Non-current financial debt | |||
Initial current rate before hedging instruments (as a percent) | 4.45% | ||
Principal Financing Entities | Bond after cash flow hedge and fixed rate bond, CNY | |||
Non-current financial debt | |||
Fair value after hedging | 164 | ||
Principal Financing Entities | Bond after cash flow hedge and fixed rate bond, HKD | |||
Non-current financial debt | |||
Fair value after hedging | $ 202 | 187 | 188 |
Initial current rate before hedging instruments (as a percent) | 3.088% | ||
Principal Financing Entities | Bond after cash flow hedge and fixed rate bond, CHF | |||
Non-current financial debt | |||
Fair value after hedging | $ 1,079 | 1,035 | 1,037 |
Principal Financing Entities | Bond after cash flow hedge and fixed rate bond, CHF | Low | |||
Non-current financial debt | |||
Initial current rate before hedging instruments (as a percent) | 0.51% | ||
Principal Financing Entities | Bond after cash flow hedge and fixed rate bond, CHF | High | |||
Non-current financial debt | |||
Initial current rate before hedging instruments (as a percent) | 1.01% | ||
Principal Financing Entities | Bond after cash flow hedge and fixed rate bond, GBP | |||
Non-current financial debt | |||
Fair value after hedging | $ 982 | 326 | 324 |
Principal Financing Entities | Bond after cash flow hedge and fixed rate bond, GBP | Low | |||
Non-current financial debt | |||
Initial current rate before hedging instruments (as a percent) | 1.25% | ||
Principal Financing Entities | Bond after cash flow hedge and fixed rate bond, GBP | High | |||
Non-current financial debt | |||
Initial current rate before hedging instruments (as a percent) | 1.66% | ||
Principal Financing Entities | Bond after cash flow hedge and fixed rate bond, AUD | |||
Non-current financial debt | |||
Fair value after hedging | $ 5 | ||
Initial current rate before hedging instruments (as a percent) | 4.00% | ||
Total Capital | |||
Non-current financial debt | |||
Number of shares in otherwise wholly-owned subsidiary held by each director | 1 | ||
Total Capital International | |||
Non-current financial debt | |||
Number of shares in otherwise wholly-owned subsidiary held by each director | 1 | ||
TOTAL S.A. | Bonds after fair value hedge | |||
Non-current financial debt | |||
Non-current financial debt and related financial instruments | $ 1,203 | 1,203 | 1,201 |
Initial current rate before hedging instruments (as a percent) | 0.50% | ||
Other consolidated subsidiaries | Bonds after fair value hedge | |||
Non-current financial debt | |||
Non-current financial debt and related financial instruments | $ 699 | 701 | 698 |
Other consolidated subsidiaries | Bonds after cash flow hedge and fixed rate bonds | |||
Non-current financial debt | |||
Non-current financial debt and related financial instruments | $ 670 | $ 762 | $ 583 |
Financial structure and finan_5
Financial structure and financial costs - Loan repayment schedule (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Loan repayment schedule (excluding current portion) | |||
Non-current financial debt | $ 47,773 | $ 40,129 | $ 41,340 |
Non-current financial assets | (912) | (680) | (679) |
Non-current net financial debt and related financial instruments | $ 46,861 | $ 39,449 | $ 40,661 |
Repayment (as a percent) | 100.00% | 100.00% | 100.00% |
Year 2 | |||
Loan repayment schedule (excluding current portion) | |||
Non-current financial debt | $ 5,716 | $ 5,442 | $ 6,005 |
Non-current financial assets | (101) | (10) | (75) |
Non-current net financial debt and related financial instruments | $ 5,615 | $ 5,432 | $ 5,930 |
Repayment (as a percent) | 12.00% | 14.00% | 15.00% |
Year 3 | |||
Loan repayment schedule (excluding current portion) | |||
Non-current financial debt | $ 6,226 | $ 4,042 | $ 5,119 |
Non-current financial assets | (148) | (76) | (2) |
Non-current net financial debt and related financial instruments | $ 6,078 | $ 3,966 | $ 5,117 |
Repayment (as a percent) | 13.00% | 10.00% | 13.00% |
Year 4 | |||
Loan repayment schedule (excluding current portion) | |||
Non-current financial debt | $ 5,230 | $ 5,262 | $ 3,810 |
Non-current financial assets | (67) | (104) | (15) |
Non-current net financial debt and related financial instruments | $ 5,163 | $ 5,158 | $ 3,795 |
Repayment (as a percent) | 11.00% | 13.00% | 9.00% |
Year 5 | |||
Loan repayment schedule (excluding current portion) | |||
Non-current financial debt | $ 5,885 | $ 5,020 | $ 5,026 |
Non-current financial assets | (87) | (37) | (67) |
Non-current net financial debt and related financial instruments | $ 5,798 | $ 4,983 | $ 4,959 |
Repayment (as a percent) | 12.00% | 13.00% | 12.00% |
More than 5 years | |||
Loan repayment schedule (excluding current portion) | |||
Non-current financial debt | $ 24,716 | $ 20,363 | $ 21,380 |
Non-current financial assets | (509) | (453) | (520) |
Non-current net financial debt and related financial instruments | $ 24,207 | $ 19,910 | $ 20,860 |
Repayment (as a percent) | 52.00% | 50.00% | 51.00% |
Hedging instruments of non-current financial debt | |||
Loan repayment schedule (excluding current portion) | |||
Non-current financial debt | $ 1,694 | $ 1,880 | $ 1,082 |
Non-current financial assets | (512) | (613) | (606) |
Hedging instruments of non-current financial debt | Year 2 | |||
Loan repayment schedule (excluding current portion) | |||
Non-current financial debt | 204 | 386 | 164 |
Non-current financial assets | (9) | (68) | |
Hedging instruments of non-current financial debt | Year 3 | |||
Loan repayment schedule (excluding current portion) | |||
Non-current financial debt | 433 | 251 | 222 |
Non-current financial assets | (121) | (57) | |
Hedging instruments of non-current financial debt | Year 4 | |||
Loan repayment schedule (excluding current portion) | |||
Non-current financial debt | 106 | 448 | 96 |
Non-current financial assets | (18) | (104) | |
Hedging instruments of non-current financial debt | Year 5 | |||
Loan repayment schedule (excluding current portion) | |||
Non-current financial debt | 139 | 93 | 165 |
Non-current financial assets | (83) | (67) | |
Hedging instruments of non-current financial debt | More than 5 years | |||
Loan repayment schedule (excluding current portion) | |||
Non-current financial debt | 812 | 702 | 435 |
Non-current financial assets | $ (281) | $ (452) | $ (471) |
Financial structure and finan_6
Financial structure and financial costs - Analysis by currency and interest rate (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Financial structure, financial costs and financial instruments | |||
Non-current financial debt and related financial instruments | $ 46,861 | $ 39,449 | $ 40,661 |
Percentage of net noncurrent debt | 100.00% | 100.00% | 100.00% |
U.S. dollar | |||
Financial structure, financial costs and financial instruments | |||
Non-current financial debt and related financial instruments | $ 43,276 | $ 38,120 | $ 38,703 |
Percentage of net noncurrent debt | 92.00% | 97.00% | 95.00% |
Euro | |||
Financial structure, financial costs and financial instruments | |||
Non-current financial debt and related financial instruments | $ 2,639 | $ 1,103 | $ 724 |
Percentage of net noncurrent debt | 6.00% | 3.00% | 2.00% |
Norwegian Crown | |||
Financial structure, financial costs and financial instruments | |||
Non-current financial debt and related financial instruments | $ 81 | $ 27 | $ 975 |
Percentage of net noncurrent debt | 0.00% | 2.00% | |
Other currencies | |||
Financial structure, financial costs and financial instruments | |||
Non-current financial debt and related financial instruments | $ 865 | 199 | $ 259 |
Percentage of net noncurrent debt | 2.00% | 1.00% | |
Fixed rate | |||
Financial structure, financial costs and financial instruments | |||
Non-current financial debt and related financial instruments | $ 26,985 | $ 18,139 | $ 18,332 |
Percentage of net noncurrent debt | 58.00% | 46.00% | 45.00% |
Floating rate | |||
Financial structure, financial costs and financial instruments | |||
Non-current financial debt and related financial instruments | $ 19,876 | $ 21,310 | $ 22,329 |
Percentage of net noncurrent debt | 42.00% | 54.00% | 55.00% |
Financial structure and finan_7
Financial structure and financial costs - Current financial assets and liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Financial structure, financial costs and financial instruments | |||
Current financial debt | $ 8,710 | $ 8,316 | $ 6,396 |
Current lease obligations | 1,202 | ||
Current portion of non-current financial debt | 4,907 | 4,990 | 4,700 |
Current borrowings (Note 14) | 14,819 | 13,306 | 11,096 |
Other current financial liabilities | 487 | 478 | 245 |
Current financial assets (Note 14) | (3,992) | (3,654) | (3,393) |
Current borrowings and related financial assets and liabilities, net | 11,314 | 10,130 | 7,948 |
Current deposits beyond three months | |||
Financial structure, financial costs and financial instruments | |||
Current financial assets (Note 14) | (3,611) | (3,536) | (2,970) |
Non-traded marketable securities | |||
Financial structure, financial costs and financial instruments | |||
Current financial assets (Note 14) | (114) | ||
Financial receivables on sub-lease | |||
Financial structure, financial costs and financial instruments | |||
Current financial assets (Note 14) | (145) | ||
Current portion of hedging instruments of debt | |||
Financial structure, financial costs and financial instruments | |||
Other current financial liabilities | 424 | 295 | 157 |
Current financial assets (Note 14) | (45) | (172) | |
Other financial instruments/held for trading | |||
Financial structure, financial costs and financial instruments | |||
Other current financial liabilities | 63 | 183 | 88 |
Current financial assets (Note 14) | $ (122) | $ (73) | $ (251) |
Financial structure and finan_8
Financial structure and financial costs - Variations of financial debt (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of detailed information about financial instruments [line items] | ||
Balance as of the beginning of the period | $ 53,115 | $ 51,579 |
Cash changes | 2,302 | (3,341) |
Non-cash changes, Change in scope, including IFRS 5 reclassifications | (453) | 4,933 |
Non-cash changes, First application IFRS 16 | 5,505 | |
Non-cash changes, Foreign currency | 136 | 222 |
Non-cash changes, Changes in fair value | 370 | 79 |
Non-cash changes, Other | 1,225 | (357) |
Balance as of the end of the period | 62,200 | 53,115 |
Non-current net financial debt and related financial instruments | ||
Disclosure of detailed information about financial instruments [line items] | ||
Balance as of the beginning of the period | 39,449 | 40,661 |
Cash changes | 8,131 | 649 |
Non-cash changes, Change in scope, including IFRS 5 reclassifications | (719) | 4,636 |
Non-cash changes, First application IFRS 16 | 4,755 | |
Non-cash changes, Foreign currency | (44) | (47) |
Non-cash changes, Changes in fair value | 413 | 121 |
Non-cash changes, Reclassification Non-current/Current | (6,517) | (6,260) |
Non-cash changes, Other | 1,393 | (311) |
Balance as of the end of the period | 46,861 | 39,449 |
Non-current financial assets | ||
Disclosure of detailed information about financial instruments [line items] | ||
Balance as of the beginning of the period | (680) | (679) |
Cash changes | 21 | |
Non-cash changes, Change in scope, including IFRS 5 reclassifications | 12 | (72) |
Non-cash changes, First application IFRS 16 | (50) | |
Non-cash changes, Foreign currency | 4 | 12 |
Non-cash changes, Changes in fair value | (71) | 59 |
Non-cash changes, Reclassification Non-current/Current | 144 | |
Non-cash changes, Other | (292) | |
Balance as of the end of the period | (912) | (680) |
Non-current financial debt | ||
Disclosure of detailed information about financial instruments [line items] | ||
Balance as of the beginning of the period | 40,129 | 41,340 |
Cash changes | 8,110 | 649 |
Non-cash changes, Change in scope, including IFRS 5 reclassifications | (731) | 4,708 |
Non-cash changes, First application IFRS 16 | 4,805 | |
Non-cash changes, Foreign currency | (48) | (59) |
Non-cash changes, Changes in fair value | 484 | 62 |
Non-cash changes, Reclassification Non-current/Current | (6,661) | (6,260) |
Non-cash changes, Other | 1,685 | (311) |
Balance as of the end of the period | 47,773 | 40,129 |
Current net financial debt and related financial instruments | ||
Disclosure of detailed information about financial instruments [line items] | ||
Balance as of the beginning of the period | 13,666 | 10,918 |
Cash changes | (5,829) | (3,990) |
Non-cash changes, Change in scope, including IFRS 5 reclassifications | (35) | 297 |
Non-cash changes, First application IFRS 16 | 750 | |
Non-cash changes, Foreign currency | 180 | 269 |
Non-cash changes, Changes in fair value | (43) | (42) |
Non-cash changes, Reclassification Non-current/Current | 6,517 | 6,260 |
Non-cash changes, Other | (168) | (46) |
Balance as of the end of the period | 15,038 | 13,666 |
Current financial assets | ||
Disclosure of detailed information about financial instruments [line items] | ||
Balance as of the beginning of the period | (118) | (423) |
Cash changes | 125 | |
Non-cash changes, Foreign currency | 2 | 10 |
Non-cash changes, Changes in fair value | (32) | 295 |
Non-cash changes, Reclassification Non-current/Current | (144) | |
Non-cash changes, Other | (101) | |
Balance as of the end of the period | (268) | (118) |
Current borrowings | ||
Disclosure of detailed information about financial instruments [line items] | ||
Balance as of the beginning of the period | 13,306 | 11,096 |
Cash changes | (5,954) | (3,990) |
Non-cash changes, Change in scope, including IFRS 5 reclassifications | (35) | 230 |
Non-cash changes, First application IFRS 16 | 750 | |
Non-cash changes, Foreign currency | 184 | 270 |
Non-cash changes, Changes in fair value | (26) | (514) |
Non-cash changes, Reclassification Non-current/Current | 6,661 | 6,260 |
Non-cash changes, Other | (67) | (46) |
Balance as of the end of the period | 14,819 | 13,306 |
Other current financial liabilities | ||
Disclosure of detailed information about financial instruments [line items] | ||
Balance as of the beginning of the period | 478 | 245 |
Non-cash changes, Change in scope, including IFRS 5 reclassifications | 67 | |
Non-cash changes, Foreign currency | (6) | (11) |
Non-cash changes, Changes in fair value | 15 | 177 |
Balance as of the end of the period | 487 | $ 478 |
Financial liabilities classified as held for sale | ||
Disclosure of detailed information about financial instruments [line items] | ||
Non-cash changes, Change in scope, including IFRS 5 reclassifications | 301 | |
Balance as of the end of the period | $ 301 |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Changes in non-current financial debt | ||||
Issuance of non-current debt | $ 8,668 | $ 3,938 | $ 2,959 | |
Repayment of non-current debt | (538) | (3,289) | (682) | |
Net amount | 8,131 | 649 | 2,277 | |
Cash and cash equivalents | ||||
Cash | 16,456 | 15,186 | 13,427 | |
Cash equivalents | 10,896 | 12,721 | 19,758 | |
Total cash and cash equivalents | 27,352 | $ 27,907 | $ 33,185 | $ 24,597 |
Restricted cash and cash equivalents | $ 1,776 |
Financial structure and fina_10
Financial structure and financial costs - Net-debt-to-equity ratio (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Net-debt-to-equity ratio | ||||
Current borrowings | $ 14,819 | $ 13,306 | $ 11,096 | |
Other current financial liabilities | 487 | 478 | 245 | |
Current financial assets | (3,992) | (3,654) | (3,393) | |
Net financial assets and liabilities held for sale or exchange | 301 | (15) | ||
Non-current financial debt | 47,773 | 40,129 | 41,340 | |
Non-current financial assets | (912) | (680) | (679) | |
Cash and cash equivalents | (27,352) | (27,907) | (33,185) | $ (24,597) |
Net financial debt | 31,124 | 21,657 | 15,424 | |
Shareholders' equity - Group share | 116,778 | 115,640 | 111,556 | |
Non-controlling interests | 2,527 | 2,474 | 2,481 | |
Total shareholders' equity | $ 119,305 | $ 118,114 | $ 114,037 | $ 101,574 |
Net-debt-to-equity ratio (as a percent) | 20.70% | 15.50% | 11.90% |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Financial structure, financial costs and financial instruments | |||
Cost of net debt | $ (2,352) | $ (2,121) | $ (1,534) |
Financial instruments, excluding commodity contracts | |||
Financial structure, financial costs and financial instruments | |||
Loans and receivables | 200 | 161 | 53 |
Financing liabilities and associated hedging instruments | (1,897) | (1,927) | (1,395) |
Fair value hedge (ineffective portion) | (1) | (6) | (1) |
Lease assets and obligations | (417) | ||
Assets and liabilities held for trading | (237) | (349) | (191) |
Cost of net debt | (2,352) | (2,121) | (1,534) |
Impact of the hedging strategies | |||
Revaluation impact at market value of bonds | (762) | 1,332 | (2,519) |
Swap hedging of bonds | 761 | (1,338) | 2,518 |
Ineffective portion of the fair value hedge | (1) | (6) | (1) |
Net investment hedge | |||
Balance as of the beginning of the period | (724) | (762) | (658) |
Variations | 7 | 38 | (104) |
Balance as of the end of the period | (717) | (724) | (762) |
Cash flow hedge | |||
Profit (Loss) recorded in equity during the period | (585) | 24 | 253 |
Recycled amount from equity to the income statement during the period | 47 | (116) | 266 |
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) $ in Millions | Dec. 31, 2019USD ($) |
Bonds | Interest Rate Swap | Hedging of financial debt (Fair value hedge) | |
Hedging instruments and hedged items by hedging strategy | |
Nominal amount of hedging instruments | 8,012 |
Carrying amount of hedging instruments assets | $ 270 |
Carrying amount of hedging instruments liabilities | (75) |
Carrying amount of hedged items liabilities | (7,450) |
Cumulative FVH adjustments included in the carrying amount of the hedged items liabilities | $ (795) |
Bonds | Interest Rate Swap | Cash flow hedge | |
Hedging instruments and hedged items by hedging strategy | |
Nominal amount of hedging instruments | 12,782 |
Carrying amount of hedging instruments assets | $ 25 |
Carrying amount of hedging instruments liabilities | $ (527) |
Bonds | Cross Currency Swaps | Hedging of financial debt (Fair value hedge) | |
Hedging instruments and hedged items by hedging strategy | |
Nominal amount of hedging instruments | 14,357 |
Carrying amount of hedging instruments assets | $ 124 |
Carrying amount of hedging instruments liabilities | (1,011) |
Carrying amount of hedged items liabilities | (14,357) |
Cumulative FVH adjustments included in the carrying amount of the hedged items liabilities | $ 1,290 |
Bonds | Cross Currency Swaps | Cash flow hedge | |
Hedging instruments and hedged items by hedging strategy | |
Nominal amount of hedging instruments | 12,604 |
Carrying amount of hedging instruments assets | $ 19 |
Carrying amount of hedging instruments liabilities | (431) |
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 | $ (71) |
Financial structure and fina_13
Financial structure and financial costs - Maturity of derivative instruments (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Financial structure, financial costs and financial instruments | |||
Fair value, financial assets | $ 70,341 | $ 67,768 | $ 72,163 |
Fair value, financial liabilities | (110,883) | (94,485) | (90,840) |
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 | 45 | 172 | |
Fair value, financial liabilities | (423) | (208) | (157) |
Total fair value | (423) | (163) | 15 |
Notional value, Assets | 1,345 | 2,391 | |
Notional value, Liabilities | 3,346 | 1,874 | 1,840 |
Total notional value | 3,346 | 3,219 | 4,231 |
Swaps hedging bonds | Not later than one year | Cash flow hedge | |||
Financial structure, financial costs and financial instruments | |||
Fair value, financial liabilities | (87) | ||
Total fair value | (87) | ||
Notional value, Liabilities | 969 | ||
Total notional value | 969 | ||
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 | 469 | 235 | 337 |
Fair value, financial liabilities | (736) | (1,281) | (951) |
Total fair value | (267) | (1,046) | (614) |
Notional value, Assets | 10,896 | 3,712 | 5,075 |
Notional value, Liabilities | 8,127 | 16,225 | 14,669 |
Total notional value | 19,023 | 19,937 | 19,744 |
Swaps hedging bonds | Due after 12 months | Cash flow hedge | |||
Financial structure, financial costs and financial instruments | |||
Fair value, financial assets | 43 | 378 | 269 |
Fair value, financial liabilities | (958) | (599) | (131) |
Total fair value | (915) | (221) | 138 |
Notional value, Assets | 4,062 | 10,043 | 9,466 |
Notional value, Liabilities | 21,324 | 11,265 | 11,288 |
Total notional value | 25,386 | 21,308 | 20,754 |
Swaps hedging bonds | Year 2 | Hedging of financial debt (Fair value hedge) | |||
Financial structure, financial costs and financial instruments | |||
Total notional value | 2,695 | 3,346 | 3,247 |
Swaps hedging bonds | Year 2 | Cash flow hedge | |||
Financial structure, financial costs and financial instruments | |||
Total notional value | 969 | ||
Swaps hedging bonds | Year 3 | Hedging of financial debt (Fair value hedge) | |||
Financial structure, financial costs and financial instruments | |||
Total notional value | 4,298 | 1,945 | 3,346 |
Swaps hedging bonds | Year 4 | Hedging of financial debt (Fair value hedge) | |||
Financial structure, financial costs and financial instruments | |||
Total notional value | 3,858 | 4,309 | 1,945 |
Swaps hedging bonds | Year 4 | Cash flow hedge | |||
Financial structure, financial costs and financial instruments | |||
Total notional value | 1,000 | ||
Swaps hedging bonds | Year 5 | Hedging of financial debt (Fair value hedge) | |||
Financial structure, financial costs and financial instruments | |||
Total notional value | 2,337 | 3,858 | 4,336 |
Swaps hedging bonds | Year 5 | Cash flow hedge | |||
Financial structure, financial costs and financial instruments | |||
Total notional value | 3,659 | ||
Swaps hedging bonds | More than 5 years | Hedging of financial debt (Fair value hedge) | |||
Financial structure, financial costs and financial instruments | |||
Total notional value | 5,835 | 6,479 | 6,870 |
Swaps hedging bonds | More than 5 years | Cash flow hedge | |||
Financial structure, financial costs and financial instruments | |||
Total notional value | 20,727 | 21,308 | 19,785 |
Forward exchange contracts related to operating activities | Not later than one year | |||
Financial structure, financial costs and financial instruments | |||
Fair value, financial assets | 1 | 2 | 2 |
Total fair value | 1 | 2 | 2 |
Notional value, Assets | 29 | 39 | 55 |
Total notional value | 29 | 39 | 55 |
Forward exchange contracts related to operating activities | Due after 12 months | |||
Financial structure, financial costs and financial instruments | |||
Notional value, Assets | 4 | 28 | |
Total notional value | 4 | 28 | |
Forward exchange contracts related to operating activities | Year 2 | |||
Financial structure, financial costs and financial instruments | |||
Total notional value | 4 | 24 | |
Forward exchange contracts related to operating activities | Year 3 | |||
Financial structure, financial costs and financial instruments | |||
Total notional value | 4 | ||
Held for trading - Other interest rate swaps | Not later than one year | |||
Financial structure, financial costs and financial instruments | |||
Fair value, financial assets | 11 | 7 | 32 |
Fair value, financial liabilities | (24) | (79) | (17) |
Total fair value | (13) | (72) | 15 |
Notional value, Assets | 23,522 | 17,001 | 36,775 |
Notional value, Liabilities | 16,007 | 20,816 | 13,905 |
Total notional value | 39,529 | 37,817 | 50,680 |
Held for trading - Other interest rate swaps | Due after 12 months | |||
Financial structure, financial costs and financial instruments | |||
Fair value, financial assets | 50 | 57 | 64 |
Fair value, financial liabilities | (44) | (22) | (3) |
Total fair value | 6 | 35 | 61 |
Notional value, Assets | 2,225 | 2,515 | 2,300 |
Notional value, Liabilities | 3,475 | 2,686 | 370 |
Total notional value | 5,700 | 5,201 | 2,670 |
Held for trading - Other interest rate swaps | Year 2 | |||
Financial structure, financial costs and financial instruments | |||
Total notional value | 2,217 | 2,186 | 41 |
Held for trading - Other interest rate swaps | Year 3 | |||
Financial structure, financial costs and financial instruments | |||
Total notional value | 1,463 | 1,004 | 50 |
Held for trading - Other interest rate swaps | Year 4 | |||
Financial structure, financial costs and financial instruments | |||
Total notional value | 18 | 56 | 1,000 |
Held for trading - Other interest rate swaps | Year 5 | |||
Financial structure, financial costs and financial instruments | |||
Total notional value | 1,820 | 1 | |
Held for trading - Other interest rate swaps | More than 5 years | |||
Financial structure, financial costs and financial instruments | |||
Total notional value | 182 | 1,954 | 1,579 |
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 | 111 | 66 | 219 |
Fair value, financial liabilities | (39) | (104) | (71) |
Total fair value | 72 | (38) | 148 |
Notional value, Assets | 6,446 | 10,500 | 15,132 |
Notional value, Liabilities | 4,455 | 9,107 | 6,048 |
Total notional value | 10,901 | 19,607 | 21,180 |
Held for trading - Currency swaps and forward exchange contracts | Due after 12 months | |||
Financial structure, financial costs and financial instruments | |||
Fair value, financial assets | 17 | 11 | 9 |
Fair value, financial liabilities | (7) | (17) | |
Total fair value | 17 | 4 | (8) |
Notional value, Assets | 431 | 44 | 175 |
Notional value, Liabilities | 131 | 34 | 229 |
Total notional value | 562 | 78 | 404 |
Held for trading - Currency swaps and forward exchange contracts | Year 2 | |||
Financial structure, financial costs and financial instruments | |||
Total notional value | 529 | 65 | 222 |
Held for trading - Currency swaps and forward exchange contracts | Year 3 | |||
Financial structure, financial costs and financial instruments | |||
Total notional value | $ 33 | 12 | 128 |
Held for trading - Currency swaps and forward exchange contracts | Year 4 | |||
Financial structure, financial costs and financial instruments | |||
Total notional value | $ 1 | 46 | |
Held for trading - Currency swaps and forward exchange contracts | Year 5 | |||
Financial structure, financial costs and financial instruments | |||
Total notional value | 7 | ||
Held for trading - Currency swaps and forward exchange contracts | More than 5 years | |||
Financial structure, financial costs and financial instruments | |||
Total notional value | $ 1 |
Financial structure and fina_14
Financial structure and financial costs - Fair value hierarchy (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Financial structure, financial costs and financial instruments | |||
Equity instruments | $ 1,778 | $ 1,421 | $ 1,727 |
Measured at fair value | Financial instruments, excluding commodity contracts | |||
Financial structure, financial costs and financial instruments | |||
Assets and liabilities held for trading | 82 | (71) | 216 |
Equity instruments | 240 | 94 | |
Assets available for sale | 100 | ||
Total fair value | (1,283) | (1,492) | (143) |
Measured at fair value | Financial instruments, excluding commodity contracts | Level 1 | |||
Financial structure, financial costs and financial instruments | |||
Equity instruments | 240 | 94 | |
Assets available for sale | 100 | ||
Total fair value | 240 | 94 | 100 |
Measured at fair value | Financial instruments, excluding commodity contracts | Level 2 | |||
Financial structure, financial costs and financial instruments | |||
Assets and liabilities held for trading | 82 | (71) | 216 |
Total fair value | (1,523) | (1,586) | (243) |
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 | (690) | (1,209) | (599) |
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 | (690) | (1,209) | (599) |
Cash flow hedge | Measured at fair value | Financial instruments, excluding commodity contracts | |||
Financial structure, financial costs and financial instruments | |||
Hedge instruments | (915) | (306) | 140 |
Cash flow hedge | Measured at fair value | Financial instruments, excluding commodity contracts | Level 2 | |||
Financial structure, financial costs and financial instruments | |||
Hedge instruments | $ (915) | $ (306) | $ 140 |
Financial structure and fina_15
Financial structure and financial costs - Interest rate risk sensitivity (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Sensitivity analysis | |||
Financial liabilities | $ (107,735) | $ (93,333) | $ (89,295) |
Financial assets | 70,341 | 67,768 | 72,163 |
Fair value, financial liabilities | (110,883) | (94,485) | (90,840) |
Fair value, financial assets | 70,341 | 67,768 | 72,163 |
Impact of changes in interest rates on the cost of net debt | |||
Cost of net debt | (2,352) | (2,121) | (1,534) |
Current portion of non-current debt after swap (excluding lease obligations) | |||
Sensitivity analysis | |||
Financial liabilities | (5,331) | (5,027) | (4,646) |
Fair value, financial liabilities | (5,332) | (5,027) | (4,645) |
Held for trading - Other interest rate swaps | |||
Sensitivity analysis | |||
Carrying amount | (7) | (37) | 76 |
Estimated fair value | (7) | (37) | 76 |
Held for trading - Currency swaps and forward exchange contracts | |||
Sensitivity analysis | |||
Carrying amount | 89 | (34) | 142 |
Estimated fair value | 89 | (34) | 142 |
Due after 12 months | Bonds (before swaps) | |||
Sensitivity analysis | |||
Financial liabilities | (38,657) | (34,975) | (36,613) |
Fair value, financial liabilities | (41,805) | (36,127) | (38,159) |
Due after 12 months | Swaps hedging bonds | |||
Sensitivity analysis | |||
Financial liabilities | (1,694) | (1,880) | (1,082) |
Financial assets | 512 | 613 | 606 |
Carrying amount | (1,182) | (1,267) | (476) |
Fair value, financial liabilities | (1,694) | (1,880) | (1,082) |
Fair value, financial assets | 512 | 613 | 606 |
Estimated fair value | $ (1,182) | $ (1,267) | $ (476) |
Interest rate risk | |||
Sensitivity analysis | |||
Reasonably possible increase in risk assumption (as a percent) | 0.10% | 0.10% | 0.10% |
Reasonably possible decrease in risk assumption (as a percent) | 0.10% | 0.10% | 0.10% |
Impact of changes in interest rates on the cost of net debt | |||
Impact on cost of net debt, interest rate increase | $ 27 | $ 29 | $ 29 |
Impact on cost of net debt, interest rate decrease | (27) | (29) | (29) |
Interest rate risk | Current portion of non-current debt after swap (excluding lease obligations) | |||
Sensitivity analysis | |||
Change in fair value due to interest rate increase | 1 | 1 | |
Change in fair value due to interest rate decrease | (1) | (1) | |
Interest rate risk | Held for trading - Other interest rate swaps | |||
Sensitivity analysis | |||
Change in fair value due to interest rate increase | 18 | 12 | 12 |
Change in fair value due to interest rate decrease | (18) | (12) | (12) |
Interest rate risk | Due after 12 months | Bonds (before swaps) | |||
Sensitivity analysis | |||
Change in fair value due to interest rate increase | 247 | 185 | 191 |
Change in fair value due to interest rate decrease | (247) | (185) | (191) |
Interest rate risk | Due after 12 months | Swaps hedging bonds | |||
Sensitivity analysis | |||
Change in fair value due to interest rate increase | (44) | (59) | (83) |
Change in fair value due to interest rate decrease | $ 44 | $ 59 | $ 83 |
Financial structure and fina_16
Financial structure and financial costs - Foreign exchange risk sensitivity (Details) $ in Millions | Dec. 31, 2019$ / ₽ | Dec. 31, 2019$ / £ | Dec. 31, 2019$ / € | Dec. 31, 2019 | Dec. 31, 2019USD ($) | Dec. 31, 2018$ / ₽ | Dec. 31, 2018$ / £ | Dec. 31, 2018$ / € | Dec. 31, 2018USD ($) | Dec. 31, 2017$ / ₽ | Dec. 31, 2017$ / £ | Dec. 31, 2017$ / € | Dec. 31, 2017USD ($) |
Sensitivity analysis | |||||||||||||
Shareholders' equity at historical exchange rate | $ 128,281 | $ 126,953 | $ 119,450 | ||||||||||
Currency translation adjustment before net investment hedge | (11,501) | (11,321) | (7,908) | ||||||||||
Net investment hedge - open instruments | (2) | 8 | 14 | ||||||||||
Shareholders' equity at exchange rate as of the end of the period | 116,778 | 115,640 | 111,556 | ||||||||||
Foreign exchange risk | |||||||||||||
Sensitivity analysis | |||||||||||||
Exchange rates | 62.27 | 0.76 | 0.89 | 69.62 | 0.78 | 0.87 | 57.86 | 0.74 | 0.83 | ||||
Impact on shareholders equity and net income | |||||||||||||
Reasonably possible increase in risk assumption (as a percent) | 10.00% | ||||||||||||
Reasonably possible decrease in risk assumption (as a percent) | 10.00% | ||||||||||||
Euro | |||||||||||||
Sensitivity analysis | |||||||||||||
Shareholders' equity at historical exchange rate | 37,687 | 41,518 | 44,930 | ||||||||||
Currency translation adjustment before net investment hedge | (4,443) | (3,706) | (1,903) | ||||||||||
Net investment hedge - open instruments | (2) | 8 | 14 | ||||||||||
Shareholders' equity at exchange rate as of the end of the period | 33,241 | 37,820 | 43,041 | ||||||||||
Euro | Foreign exchange risk | |||||||||||||
Impact on shareholders equity and net income | |||||||||||||
Impact of an increase in exchange rates on shareholders' equity | 3,324 | ||||||||||||
Impact of an increase in exchange rates on net income (Group share) | 110 | ||||||||||||
Impact of a decrease in exchange rates on shareholders' equity | (3,324) | ||||||||||||
Impact of a decrease in exchange rates on net income (Group share) | (110) | ||||||||||||
U.S. dollar | |||||||||||||
Sensitivity analysis | |||||||||||||
Shareholders' equity at historical exchange rate | 66,005 | 59,125 | 51,674 | ||||||||||
Shareholders' equity at exchange rate as of the end of the period | 66,005 | 59,125 | 51,674 | ||||||||||
Pound Sterling | |||||||||||||
Sensitivity analysis | |||||||||||||
Shareholders' equity at historical exchange rate | 5,635 | 9,077 | 6,467 | ||||||||||
Currency translation adjustment before net investment hedge | (1,830) | (1,960) | (1,543) | ||||||||||
Shareholders' equity at exchange rate as of the end of the period | 3,805 | 7,117 | 4,924 | ||||||||||
Pound Sterling | Foreign exchange risk | |||||||||||||
Impact on shareholders equity and net income | |||||||||||||
Impact of an increase in exchange rates on shareholders' equity | 381 | ||||||||||||
Impact of an increase in exchange rates on net income (Group share) | 95 | ||||||||||||
Impact of a decrease in exchange rates on shareholders' equity | (381) | ||||||||||||
Impact of a decrease in exchange rates on net income (Group share) | (95) | ||||||||||||
Ruble | |||||||||||||
Sensitivity analysis | |||||||||||||
Shareholders' equity at historical exchange rate | 9,900 | 8,248 | 7,366 | ||||||||||
Currency translation adjustment before net investment hedge | (3,355) | (3,892) | (3,076) | ||||||||||
Shareholders' equity at exchange rate as of the end of the period | 6,545 | 4,356 | 4,290 | ||||||||||
Ruble | Foreign exchange risk | |||||||||||||
Impact on shareholders equity and net income | |||||||||||||
Impact of an increase in exchange rates on shareholders' equity | 654 | ||||||||||||
Impact of an increase in exchange rates on net income (Group share) | 153 | ||||||||||||
Impact of a decrease in exchange rates on shareholders' equity | (654) | ||||||||||||
Impact of a decrease in exchange rates on net income (Group share) | (153) | ||||||||||||
Other currencies | |||||||||||||
Sensitivity analysis | |||||||||||||
Shareholders' equity at historical exchange rate | 9,054 | 8,985 | 9,013 | ||||||||||
Currency translation adjustment before net investment hedge | (1,873) | (1,763) | (1,386) | ||||||||||
Shareholders' equity at exchange rate as of the end of the period | $ 7,182 | $ 7,222 | $ 7,627 |
Financial structure and fina_17
Financial structure and financial costs - Liquidity risk (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Financial structure, financial costs and financial instruments | ||||
Committed credit facilities granted by international banks | $ 12,961 | |||
Unutilized credit facilities | 12,406 | |||
Maturity of financial assets and liabilities | ||||
Non-current financial debt (notional value excluding interests) | (47,194) | |||
Non-current financial assets | 333 | |||
Non-current financial debt (notional value excluding interests) | (46,861) | $ (39,449) | $ (40,661) | |
Current borrowings | (14,819) | (13,306) | (11,096) | |
Other current financial liabilities | (487) | (478) | (245) | |
Current financial assets | 3,992 | 3,654 | 3,393 | |
Assets and liabilities available for sale or exchange | (301) | 15 | ||
Cash and cash equivalents | 27,352 | 27,907 | 33,185 | $ 24,597 |
Net amount before financial expense | (31,124) | (21,657) | (15,424) | |
Financial expense on non-current financial debt | (5,472) | (3,968) | (4,312) | |
Interest differential on swaps | (2,497) | (2,677) | (1,797) | |
Net amount | (39,093) | (28,302) | (21,533) | |
Financial assets and liabilities related to operating activities | ||||
Accounts payable | (28,394) | (26,134) | (26,479) | |
Other operating liabilities | (16,262) | (13,286) | (10,135) | |
Accounts receivable, net | 18,488 | 17,270 | 14,893 | |
Other operating receivables | 11,506 | 9,733 | 9,336 | |
Total | (14,662) | (12,417) | (12,385) | |
Not later than one year | ||||
Maturity of financial assets and liabilities | ||||
Current borrowings | (14,819) | (13,306) | (11,096) | |
Other current financial liabilities | (487) | (478) | (245) | |
Current financial assets | 3,992 | 3,654 | 3,393 | |
Assets and liabilities available for sale or exchange | (301) | 15 | ||
Cash and cash equivalents | 27,352 | 27,907 | 33,185 | |
Net amount before financial expense | 15,737 | 17,792 | 25,237 | |
Financial expense on non-current financial debt | (807) | (718) | (805) | |
Interest differential on swaps | (350) | (484) | (193) | |
Net amount | 14,580 | 16,590 | 24,239 | |
Year 2 | ||||
Maturity of financial assets and liabilities | ||||
Non-current financial debt (notional value excluding interests) | (5,683) | |||
Non-current financial assets | 68 | |||
Non-current financial debt (notional value excluding interests) | (5,615) | (5,432) | (5,930) | |
Net amount before financial expense | (5,615) | (5,432) | (5,930) | |
Financial expense on non-current financial debt | (724) | (682) | (779) | |
Interest differential on swaps | (325) | (412) | (223) | |
Net amount | (6,664) | (6,526) | (6,932) | |
Year 3 | ||||
Maturity of financial assets and liabilities | ||||
Non-current financial debt (notional value excluding interests) | (6,102) | |||
Non-current financial assets | 24 | |||
Non-current financial debt (notional value excluding interests) | (6,078) | (3,966) | (5,117) | |
Net amount before financial expense | (6,078) | (3,966) | (5,117) | |
Financial expense on non-current financial debt | (650) | (598) | (636) | |
Interest differential on swaps | (297) | (369) | (257) | |
Net amount | (7,025) | (4,933) | (6,010) | |
Year 4 | ||||
Maturity of financial assets and liabilities | ||||
Non-current financial debt (notional value excluding interests) | (5,172) | |||
Non-current financial assets | 9 | |||
Non-current financial debt (notional value excluding interests) | (5,163) | (5,158) | (3,795) | |
Net amount before financial expense | (5,163) | (5,158) | (3,795) | |
Financial expense on non-current financial debt | (594) | (506) | (545) | |
Interest differential on swaps | (255) | (309) | (245) | |
Net amount | (6,012) | (5,973) | (4,585) | |
Year 5 | ||||
Maturity of financial assets and liabilities | ||||
Non-current financial debt (notional value excluding interests) | (5,802) | |||
Non-current financial assets | 4 | |||
Non-current financial debt (notional value excluding interests) | (5,798) | (4,983) | (4,959) | |
Net amount before financial expense | (5,798) | (4,983) | (4,959) | |
Financial expense on non-current financial debt | (482) | (427) | (454) | |
Interest differential on swaps | (224) | (234) | (198) | |
Net amount | (6,504) | (5,644) | (5,611) | |
More than 5 years | ||||
Maturity of financial assets and liabilities | ||||
Non-current financial debt (notional value excluding interests) | (24,435) | |||
Non-current financial assets | 228 | |||
Non-current financial debt (notional value excluding interests) | (24,207) | (19,910) | (20,860) | |
Net amount before financial expense | (24,207) | (19,910) | (20,860) | |
Financial expense on non-current financial debt | (2,215) | (1,037) | (1,093) | |
Interest differential on swaps | (1,046) | (869) | (681) | |
Net amount | (27,468) | (21,816) | (22,634) | |
Financial instruments related to commodity contracts | ||||
Financial assets and liabilities related to operating activities | ||||
Other operating liabilities | (5,333) | (3,429) | (1,794) | |
Other operating receivables | 4,791 | $ 2,731 | $ 1,987 | |
TOTAL S.A. | ||||
Financial structure, financial costs and financial instruments | ||||
Committed credit facilities granted by international banks | 11,585 | |||
Unutilized credit facilities | $ 11,585 |
Financial structure and fina_18
Financial structure and financial costs - Credit risk (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Credit risk | |||
Maximum credit risk exposure | $ 68,563 | $ 66,347 | $ 70,436 |
Net margin call (paid) received | (2,486) | (2,581) | (870) |
Sale of receivables | |||
Credit risk | |||
Net value of receivables sold | 8,129 | ||
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 | 177 | ||
Loans to equity affiliates | |||
Credit risk | |||
Maximum credit risk exposure | 3,999 | 4,755 | 5,135 |
Loans and advances | |||
Credit risk | |||
Maximum credit risk exposure | 1,982 | 1,877 | 2,878 |
Other non-current financial assets related to operational activities | |||
Credit risk | |||
Maximum credit risk exposure | 332 | 471 | 937 |
Non-current financial assets | |||
Credit risk | |||
Maximum credit risk exposure | 912 | 680 | 679 |
Accounts receivable, net | |||
Credit risk | |||
Maximum credit risk exposure | 18,488 | 17,270 | 14,893 |
Other operating receivables | |||
Credit risk | |||
Maximum credit risk exposure | 11,506 | 9,733 | 9,336 |
Current financial assets | |||
Credit risk | |||
Maximum credit risk exposure | 3,992 | 3,654 | 3,393 |
Cash and cash equivalents | |||
Credit risk | |||
Maximum credit risk exposure | $ 27,352 | $ 27,907 | $ 33,185 |
Financial instruments related_3
Financial instruments related to commodity contracts - Offsetting of financial assets and financial liabilities (Details) - Financial instruments related to commodity contracts - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Financial structure, financial costs and financial instruments | ||||
Gross value before offsetting - assets | $ 5,167 | $ 4,053 | $ 2,436 | |
Gross value before offsetting - liabilities | (5,709) | (4,751) | (2,243) | |
Amounts offset - assets | (376) | (1,322) | (449) | |
Amounts offset - liabilities | 376 | 1,322 | 449 | |
Net balance sheet value presented - assets | 4,791 | 2,731 | 1,987 | |
Net balance sheet value presented - liabilities | (5,333) | (3,429) | (1,794) | |
Other amounts not offset - collateral received | (625) | (23) | ||
Other amounts not offset - collateral pledged | 327 | |||
Net carrying amount after other amounts not offset | (1,167) | (371) | 170 | |
Fair value | (542) | (698) | 193 | |
Fair value after other amounts not offset | (1,167) | (371) | 170 | |
Crude oil, petroleum products and freight rates activities | ||||
Financial structure, financial costs and financial instruments | ||||
Gross value before offsetting - assets | 525 | 1,414 | 637 | |
Gross value before offsetting - liabilities | (807) | (1,697) | (860) | |
Amounts offset - assets | (76) | (884) | (321) | |
Amounts offset - liabilities | 76 | 884 | 321 | |
Net balance sheet value presented - assets | 449 | 530 | 316 | |
Net balance sheet value presented - liabilities | (731) | (813) | (539) | |
Other amounts not offset - collateral received | (118) | |||
Other amounts not offset - collateral pledged | 147 | 63 | ||
Net carrying amount after other amounts not offset | (135) | (401) | (160) | |
Fair value | (282) | (283) | (223) | $ 130 |
Fair value after other amounts not offset | $ (135) | (401) | (160) | |
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 | $ 152 | 389 | 244 | |
Gross value before offsetting - liabilities | (244) | (272) | (333) | |
Amounts offset - assets | (73) | (140) | (102) | |
Amounts offset - liabilities | 73 | 140 | 102 | |
Net balance sheet value presented - assets | 79 | 249 | 142 | |
Net balance sheet value presented - liabilities | (171) | (132) | (231) | |
Net carrying amount | (92) | 117 | (89) | |
Fair value | (92) | 117 | (89) | |
Crude oil, petroleum products and freight rates activities | Forwards | ||||
Financial structure, financial costs and financial instruments | ||||
Gross value before offsetting - assets | 300 | 243 | 109 | |
Gross value before offsetting - liabilities | (297) | (373) | (113) | |
Amounts offset - assets | (3) | (59) | (12) | |
Amounts offset - liabilities | 3 | 59 | 12 | |
Net balance sheet value presented - assets | 297 | 184 | 97 | |
Net balance sheet value presented - liabilities | (294) | (314) | (101) | |
Net carrying amount | 3 | (130) | (4) | |
Fair value | 3 | (130) | (4) | |
Crude oil, petroleum products and freight rates activities | Options | ||||
Financial structure, financial costs and financial instruments | ||||
Gross value before offsetting - assets | 73 | 243 | 82 | |
Gross value before offsetting - liabilities | (106) | (363) | (163) | |
Amounts offset - assets | (156) | (52) | ||
Amounts offset - liabilities | 156 | 52 | ||
Net balance sheet value presented - assets | 73 | 87 | 30 | |
Net balance sheet value presented - liabilities | (106) | (207) | (111) | |
Net carrying amount | (33) | (120) | (81) | |
Fair value | (33) | (120) | (81) | |
Crude oil, petroleum products and freight rates activities | Futures | ||||
Financial structure, financial costs and financial instruments | ||||
Gross value before offsetting - assets | 10 | |||
Net balance sheet value presented - assets | 10 | |||
Net carrying amount | 10 | |||
Fair value | 10 | |||
Crude oil, petroleum products and freight rates activities | Options on futures | ||||
Financial structure, financial costs and financial instruments | ||||
Gross value before offsetting - assets | 529 | 202 | ||
Gross value before offsetting - liabilities | (160) | (689) | (251) | |
Amounts offset - assets | (529) | (155) | ||
Amounts offset - liabilities | 529 | 155 | ||
Net balance sheet value presented - assets | 47 | |||
Net balance sheet value presented - liabilities | (160) | (160) | (96) | |
Net carrying amount | (160) | (160) | (49) | |
Fair value | (160) | (160) | (49) | |
Integrated Gas, Renewables & Power activities | ||||
Financial structure, financial costs and financial instruments | ||||
Gross value before offsetting - assets | 4,642 | 2,639 | 1,799 | |
Gross value before offsetting - liabilities | (4,902) | (3,054) | (1,383) | |
Amounts offset - assets | (300) | (438) | (128) | |
Amounts offset - liabilities | 300 | 438 | 128 | |
Net balance sheet value presented - assets | 4,342 | 2,201 | 1,671 | |
Net balance sheet value presented - liabilities | (4,602) | (2,616) | (1,255) | |
Other amounts not offset - collateral received | (772) | (86) | ||
Other amounts not offset - collateral pledged | 445 | |||
Net carrying amount after other amounts not offset | (1,032) | 30 | 330 | |
Fair value | (260) | (415) | 416 | $ 218 |
Fair value after other amounts not offset | (1,032) | 30 | 330 | |
Integrated Gas, Renewables & Power activities | Swaps | ||||
Financial structure, financial costs and financial instruments | ||||
Gross value before offsetting - assets | 469 | 18 | 76 | |
Gross value before offsetting - liabilities | 9 | (624) | (7) | |
Amounts offset - assets | 39 | (6) | (3) | |
Amounts offset - liabilities | (39) | 6 | 3 | |
Net balance sheet value presented - assets | 508 | 12 | 73 | |
Net balance sheet value presented - liabilities | (30) | (618) | (4) | |
Net carrying amount | 478 | (606) | 69 | |
Fair value | 478 | (606) | 69 | |
Integrated Gas, Renewables & Power activities | Forwards | ||||
Financial structure, financial costs and financial instruments | ||||
Gross value before offsetting - assets | 4,080 | 2,492 | 1,717 | |
Gross value before offsetting - liabilities | (4,831) | (2,285) | (1,345) | |
Amounts offset - assets | (296) | (316) | (92) | |
Amounts offset - liabilities | 296 | 316 | 92 | |
Net balance sheet value presented - assets | 3,784 | 2,176 | 1,625 | |
Net balance sheet value presented - liabilities | (4,535) | (1,969) | (1,253) | |
Net carrying amount | (751) | 207 | 372 | |
Fair value | (751) | 207 | 372 | |
Integrated Gas, Renewables & Power activities | Options | ||||
Financial structure, financial costs and financial instruments | ||||
Gross value before offsetting - assets | 76 | 3 | 6 | |
Gross value before offsetting - liabilities | (37) | (20) | (30) | |
Amounts offset - assets | (28) | (18) | (33) | |
Amounts offset - liabilities | 28 | 18 | 33 | |
Net balance sheet value presented - assets | 48 | (15) | (27) | |
Net balance sheet value presented - liabilities | (9) | (2) | 3 | |
Net carrying amount | 39 | (17) | (24) | |
Fair value | 39 | (17) | (24) | |
Integrated Gas, Renewables & Power activities | Futures | ||||
Financial structure, financial costs and financial instruments | ||||
Gross value before offsetting - assets | 17 | 126 | ||
Gross value before offsetting - liabilities | (43) | (125) | (1) | |
Amounts offset - assets | (15) | (98) | ||
Amounts offset - liabilities | 15 | 98 | ||
Net balance sheet value presented - assets | 2 | 28 | ||
Net balance sheet value presented - liabilities | (28) | (27) | (1) | |
Net carrying amount | (26) | 1 | (1) | |
Fair value | $ (26) | $ 1 | $ (1) |
Financial instruments related_4
Financial instruments related to commodity contracts - Changes in fair value (Details) - Financial instruments related to commodity contracts - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Financial structure, financial costs and financial instruments | |||
Fair value as of the beginning of the period | $ (698) | $ 193 | |
Fair value as of the end of the period | (542) | (698) | $ 193 |
Crude oil, petroleum products and freight rates activities | |||
Financial structure, financial costs and financial instruments | |||
Fair value as of the beginning of the period | (283) | (223) | 130 |
Impact on income | 4,189 | 2,689 | 2,693 |
Settled contracts | (4,188) | (2,749) | (3,047) |
Fair value as of the end of the period | (282) | (283) | (223) |
Integrated Gas, Renewables & Power activities | |||
Financial structure, financial costs and financial instruments | |||
Fair value as of the beginning of the period | (415) | 416 | 218 |
Impact on income | 1,588 | 1,220 | 717 |
Settled contracts | (686) | (2,057) | (554) |
Other | (747) | 6 | 35 |
Fair value as of the end of the period | $ (260) | $ (415) | $ 416 |
Financial instruments related_5
Financial instruments related to commodity contracts - Fair value hierarchy (Details) - Financial instruments related to commodity contracts - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of detailed information about financial instruments [line items] | ||||
Fair value of financial instruments | $ (542) | $ (698) | $ 193 | |
Effective horizon of assessment of the fair value of the portfolio of contracts over an effective horizon based on valuation methods | 12 months | 2 years | ||
Level 1 | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Fair value of financial instruments | $ 210 | $ 121 | 239 | |
Level 2 | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Fair value of financial instruments | 1,882 | (618) | (45) | |
Level 3 | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Fair value of financial instruments | (2,634) | (201) | ||
Crude oil, petroleum products and freight rates activities | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Fair value of financial instruments | (282) | (283) | (223) | $ 130 |
Crude oil, petroleum products and freight rates activities | Level 1 | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Fair value of financial instruments | (182) | (303) | (49) | |
Crude oil, petroleum products and freight rates activities | Level 2 | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Fair value of financial instruments | (172) | 20 | (173) | |
Crude oil, petroleum products and freight rates activities | Level 3 | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Fair value of financial instruments | 72 | |||
Integrated Gas, Renewables & Power activities | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Fair value of financial instruments | (260) | (415) | 416 | $ 218 |
Integrated Gas, Renewables & Power activities | Level 1 | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Fair value of financial instruments | 392 | 424 | 288 | |
Integrated Gas, Renewables & Power activities | Level 2 | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Fair value of financial instruments | 2,054 | (638) | $ 128 | |
Integrated Gas, Renewables & Power activities | Level 3 | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Fair value of financial instruments | $ (2,706) | $ (201) |
Financial instruments related_6
Financial instruments related to commodity contracts - Cash flow hedge (Details) - Financial instruments related to commodity contracts - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Cash flow hedge | |||
Profit (Loss) recorded in equity during the period | $ (14) | $ 3 | $ 71 |
Recycled amount from equity to the income statement during the period | (3) | (6) | |
Ineffective portion of the cash flow hedges | $ 0 | $ 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 - Market related risks (Details) - Financial instruments related to commodity contracts - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
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 | $ 21 | $ 7 | $ 7 |
Crude oil, petroleum products and freight rates activities | Trading & Shipping | High | |||
Market related risk | |||
Value at risk | 28 | 21 | 28 |
Crude oil, petroleum products and freight rates activities | Trading & Shipping | Low | |||
Market related risk | |||
Value at risk | 9 | 5 | 4 |
Crude oil, petroleum products and freight rates activities | Trading & Shipping | Average | |||
Market related risk | |||
Value at risk | $ 17 | $ 12 | $ 16 |
Integrated Gas, Renewables & Power activities | Integrated Gas, Renewables and 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 | $ 64 | $ 10 | $ 4 |
Integrated Gas, Renewables & Power activities | Integrated Gas, Renewables and Power | High | |||
Market related risk | |||
Value at risk | 83 | 20 | 13 |
Integrated Gas, Renewables & Power activities | Integrated Gas, Renewables and Power | Low | |||
Market related risk | |||
Value at risk | 10 | 3 | 3 |
Integrated Gas, Renewables & Power activities | Integrated Gas, Renewables and Power | Average | |||
Market related risk | |||
Value at risk | $ 20 | $ 10 | $ 6 |
Consolidation scope (Details)
Consolidation scope (Details) | 12 Months Ended |
Dec. 31, 2019entity | |
Consolidation scope | |
Number of entities | 1,134 |
Investments accounted for using equity method | |
Consolidation scope | |
Number of entities | 140 |
Exploration & Production | Angola Block 14 B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 50.01% |
Exploration & Production | Brass Holdings S.A.R.L. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Deer Creek Pipelines Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 75.00% |
Exploration & Production | E.F. Oil And Gas Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Elf E&P | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Elf Exploration UK Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Elf Petroleum Iran | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Elf Petroleum UK Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Mabruk Oil Operations | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 49.02% |
Exploration & Production | Marathon Oil Libya Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Stogg Eagle Funding B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Tepkri Sarsang A/S | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Termokarstovoye S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total (BTC) B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total Abu Al Bu Khoosh | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total Austral | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total Brazil Services B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total Danmark Pipelines A/S | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total Denmark ASW Pipeline Aps | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total Denmark ASW, Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total Dolphin Midstream | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Absheron B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Al Shaheen A/S | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Algerie | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Algerie Berkine A/S | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Americas, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Angola | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Angola Block 15/06 Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Angola Block 16 A/S | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Angola Block 16 Holding A/S | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Angola Block 17.06 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Angola Block 25 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Angola Block 32 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Angola Block 33 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Angola Block 39 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Angola Block 40 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Angola Block 48 B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Angola Chissonga Holdings Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Aruba B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Asia Pacific Pte. Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Azerbaijan B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Bolivie | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Borneo B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Bulgaria B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Cambodge | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Canada Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Chine | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Chissonga Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Colombie | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Congo | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 85.00% |
Exploration & Production | Total E&P Cote d'Ivoire | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Cote d'Ivoire CI - 514 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Cote d'Ivoire CI - 515 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Cote d'Ivoire CI - 516 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Cote d'Ivoire CI-605 B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Cyprus B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Danmark A/S - CPH | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Danmark A/S - EBJ | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Deep Offshore Borneo B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Do Brasil Ltda | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Dolphin Upstream | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Dunga GmbH | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P East El Burullus Offshore B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Egypt Block 2 B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Egypte | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Europe and Central Asia Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P France | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Golfe Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Greece B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Guyana B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Guyane Francaise | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Holdings Russia | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Holdings UAE B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Anchor, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Jutland Denmark B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P International K1 Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P International K2 Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P International K3 Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P International Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Iraq | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Ireland B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Italia | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Kazakhstan | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Kenya B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Kurdistan Region of Iraq (Harir) B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Kurdistan Region of Iraq (Safen) B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Kurdistan Region of Iraq (Taza) B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Kurdistan Region of Iraq B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Liban S.A.L. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Libye | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Lower Zakum B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Malaysia | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Mauritania Block C18 B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Mauritania Block C9 B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Mauritania Blocks DW B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Mauritanie | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Mexico S.A. de C.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Mozambique B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Myanmar | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Gom Moh. LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Jack LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Namibia B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Nederland B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P New Ventures Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Nigeria Deepwater A Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Nigeria Deepwater B Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Nigeria Deepwater C Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Nigeria Deepwater D Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Nigeria Deepwater E Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Nigeria Deepwater F Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Nigeria Deepwater G Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Nigeria Deepwater H Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Nigeria Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Nigeria S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Norge AS | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P North Sea UK Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Oman | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Participations Petrolieres Congo | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Philippines B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Qatar | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P RDC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Research & Technology USA LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Russie | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Senegal | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Services China Company Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P South Africa B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P South Pars | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P South Sudan | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Syrie | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Tajikistan B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Thailand | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Three PL B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Timan-Pechora LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P UAE Unconventional Gas B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Uganda B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P UK Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Umm Shaif Nasr B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Uruguay B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Uruguay Onshore B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P USA Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P USA Oil Shale, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Well Response | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P US Well Containment, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Yemen | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total E&P Yemen Block 3 B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total East Africa Midstream B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total Energy (Meuk) Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total Exploration M'Bridge | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total Facilities Management B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total Gabon | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 58.28% |
Exploration & Production | Total Gass Handel Norge AS | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total Gastransport Nederland B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total Holding Dolphin Amont | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total Holdings Nederland B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total Holdings Nederland International B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total Iran B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total LNG Supply Services USA Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total Oil and Gas South America | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total Oil and Gas Venezuela B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total Oil Gb Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total Oil UK Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total Pars LNG | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total Petroleum Angola | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total Profils Petroliers | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total P&G Do Brasil Ltda | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total Qatar | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total South Pars | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total Upstream Danmark A/S | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total Upstream Nigeria Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total Upstream UK Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Total Venezuela | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Uintah Colorado Resources, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 66.67% |
Exploration & Production | Unitah Colorado Resources II, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Exploration & Production | Ypergas S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 37.33% |
Exploration & Production | Abu Dhabi Gas Industries Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 15.00% |
Exploration & Production | Abu Dhabi Marine Areas Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 33.33% |
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) | 15.00% |
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 | Gas Investment and Services Company Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 10.00% |
Exploration & Production | Moattama Gas Transportation Company Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 31.24% |
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) | 30.00% |
Exploration & Production | Novatek | |
Consolidation scope | |
Group interest, equity method (as a percent) | 19.40% |
Exploration & Production | Pars LNG Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 40.00% |
Exploration & Production | Petrocedeno | |
Consolidation scope | |
Group interest, equity method (as a percent) | 30.32% |
Exploration & Production | Private Oil Holdings Oman Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 10.00% |
Exploration & Production | Terneftegaz JSC | |
Consolidation scope | |
Group interest, equity method (as a percent) | 58.89% |
Percentage of control in associate or joint venture | 49.00% |
Integrated Gas, Renewables and Power | Alcad AB | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 99.34% |
Integrated Gas, Renewables and Power | Bassin Du Capiscol | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Biogaz Breuil | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Biogaz Chatillon | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Biogaz Corcelles | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Biogaz Epinay | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Biogaz Libron | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Biogaz Milhac | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Biogaz Soignolles | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Biogaz Torcy | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Biogaz Vert Le Grand | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Biogaz Viriat | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Borrowed Sunshine II Parent, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Borrowed Sunshine II, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | BSP Class B Member HoldCo, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | BSP Class B Member, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | BSP Holding Company, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | BSP II Parent, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Centrale Eolienne De Couloumi | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 51.00% |
Integrated Gas, Renewables and Power | Centrale Eolienne De Coume | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Eolienne De Dainville | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Eolienne De Goulien | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Eolienne De L'Olivier | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 51.00% |
Integrated Gas, Renewables and Power | Centrale Eolienne Des Malandaux | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 51.00% |
Integrated Gas, Renewables and Power | Centrale Eolienne Du Plan Du Pal | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 51.00% |
Integrated Gas, Renewables and Power | Centrale Eolienne La Croix De Cuitot | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 51.00% |
Integrated Gas, Renewables and Power | Centrale Eolienne Les Champs Parents | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 51.00% |
Integrated Gas, Renewables and Power | Centrale Photovoltaique De La Croix | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Photovoltaique Du Seneguier | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Photovoltaique Le Barou | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire 2 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Centre Ouest 2 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Couloumine | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Du Centre Ouest | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Du Pla De La Roque | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Manosque Ombriere | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Cogenra Solar, Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Centrale Solaire De Cazedarnes | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 75.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Felix | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Forum Laudun | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Fremy | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Gardanne | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Le Castellet | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Les Aspres | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Les Cordeliers | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 83.98% |
Integrated Gas, Renewables and Power | Centrale Solaire Les Cordeliers 2 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Les Galliennes | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Les Melettes | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Lodes | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Mazeran Lr | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Mazeran Paca | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Ombrieres Cap Agathois | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 83.98% |
Integrated Gas, Renewables and Power | Centrale Solaire Pezenas | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Piennes | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Plateau De Pouls | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 51.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Quadrao | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Supdevenergie | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Valorbi | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Viguier | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Zabo | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Zabo 2 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | DAJA 148 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | DAJA 154 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | DAJA 160 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Electricite Solaire De Molleges | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Eole Boin | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Eole Broceliande | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 51.00% |
Integrated Gas, Renewables and Power | Eole Champagne Conlinoise | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Eole Cote Du Moulin | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Eole Du Bocage | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 51.00% |
Integrated Gas, Renewables and Power | Eole Fonds Caraibes | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Eole Grand Maison | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Eole La Montagne | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 87.60% |
Integrated Gas, Renewables and Power | Eole La Perriere S.A.R.L. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Eole Les Buissons | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Eole Les Patoures | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 51.00% |
Integrated Gas, Renewables and Power | Eole Morne Carriere | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Eole Morne Constant | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Eole Moulin Tizon | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Eole Petit Fougeray | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 51.00% |
Integrated Gas, Renewables and Power | Eole Pierrefitte Es Bois | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Eole Saint-Jean Lachalm | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Eole Sorbon S.A.R.L. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Eole Sorbon ii | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Eole Yate | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Eoliennes Arques 1 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Eoliennes Arques 2 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Eoliennes Arques 3 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Eoliennes De La Chaussee Brunehaut | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 51.00% |
Integrated Gas, Renewables and Power | Eoliennes De La Chaussee Brunehaut 1 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 51.00% |
Integrated Gas, Renewables and Power | Eoliennes De La Chaussee Brunehaut 2 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 51.00% |
Integrated Gas, Renewables and Power | Eoliennes De La Chaussee Brunehaut 3 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 51.00% |
Integrated Gas, Renewables and Power | Eoliennes De La Chaussee Brunehaut 4 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 51.00% |
Integrated Gas, Renewables and Power | Eoliennes De La Chaussee Brunehaut 5 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 51.00% |
Integrated Gas, Renewables and Power | Eoliennes De L'Ourcq Et Du Clignon | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 51.00% |
Integrated Gas, Renewables and Power | Eoliennes Du Champ Chardon | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Fast Jung KB | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 99.34% |
Integrated Gas, Renewables and Power | Finansol 1 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Finansol 2 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Finansol 3 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Frieman & Wolf Batterietechnick GmbH | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 99.34% |
Integrated Gas, Renewables and Power | GFS I Class B Member, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | GFS I Holding Company, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Glaciere De Palisse | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Global Energy Armateur SNC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Global LNG Armateur S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Global LNG Downstream S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Global LNG North America Corporation | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Global LNG S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Global LNG Supply S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Global LNG UK Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Golden Fields Solar I, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Goodfellow Solar II, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Goodfellow Solar III, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Goodfellow Solar Construction, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Go Electric | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Greenflex Actirent Group, S.L. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Greenflex S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Helio 100 Kw | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Helio 21 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Helio 974 Toitures | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Helio Bakia | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Helio Boulouparis | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Helio Boulouparis 2 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Helio Fonds Caraibes | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Helio Koumac | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Helio L'R | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Helio Moindah | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Helio Piin Patch | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Helio Popidery | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Helio Reunion | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Helio Tamoa | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Helio Temala | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Helix Project III, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Helix Project V, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Hetty | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Holding Eole 2018 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Holding Otev | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Holding Pdr | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Hydro-M Ingenierie Des Energies Renouvelables | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Hydromons | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Institut Photovoltaique D'Ile De France (IPVF) | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 43.00% |
Integrated Gas, Renewables and Power | JDA Overseas Holdings, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Jmb Hydro S.A.R.L. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Jmb Solar | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Jmb Solar Nogara | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Jmcp | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 50.05% |
Integrated Gas, Renewables and Power | Kozani Energy Anonymi Energeiaki Etaireia distinctive title Kozani Energy S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Kozani Energy Malta Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | LA Basin Solar I, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | La Compagnie Electrique De Bretagne | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | La Seauve | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 95.01% |
Integrated Gas, Renewables and Power | Lampiris S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Lemoore Stratford Land Holdings IV, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Les Eoliennes De Conquereuil | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Les Moulins A Vent De Kermadeen | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 51.00% |
Integrated Gas, Renewables and Power | Les Vents De Nivillac | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Les Vents De Ranes | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Libcom | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Libwatt | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Lincoln Solar Star, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Margeriaz Energie | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Marysville Unified School District Solar, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Maxeon Solar Technologies, Pte. Ltd. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Messigaz SNC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Methanergy | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Miyagi Osato Solar Park G.K. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 90.00% |
Integrated Gas, Renewables and Power | Mojave Solar Investment, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | NEM Solar Targetco, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | NorthStar Energy Management, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Northstar Santa Clara County 2016, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Ombrieres Te Vendres | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Parc Eolien De Nesle La Reposte | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Parc Solaire De Servian | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Parc Solaire De Servian 2 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Perpetual Sunshine Solar Program I, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Perpetual Sunshine I, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Photovoltaic Park Malta Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Photovoltaica Parka Veroia Anonymi Etaireia | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Pos | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Pos Production II | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 60.00% |
Integrated Gas, Renewables and Power | Pos Production III | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 70.00% |
Integrated Gas, Renewables and Power | Pos Production IV | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 70.00% |
Integrated Gas, Renewables and Power | Pos Production V | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 70.00% |
Integrated Gas, Renewables and Power | Quadran Caraibes | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Quadran Holding Nc | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Quadran Nogara | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Quadran Pacific | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Quadrelio | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Rosamond Raven Holdings, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Saft (Zhuhai FTZ) Batteries Company Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 99.34% |
Integrated Gas, Renewables and Power | Saft (Zhuhai) Energy Storage Co | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Saft AB | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 99.34% |
Integrated Gas, Renewables and Power | Saft Acquisition S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 99.34% |
Integrated Gas, Renewables and Power | Saft America Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 99.34% |
Integrated Gas, Renewables and Power | Saft AS | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 99.34% |
Integrated Gas, Renewables and Power | Saft Australia PTY Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 99.34% |
Integrated Gas, Renewables and Power | Saft Batterias SL | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 99.34% |
Integrated Gas, Renewables and Power | Saft Batterie Italia S.R.L. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 99.34% |
Integrated Gas, Renewables and Power | Saft Batterien GmbH | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 99.34% |
Integrated Gas, Renewables and Power | Saft Batteries Pte Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 99.34% |
Integrated Gas, Renewables and Power | Saft Batteries PTY Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 99.34% |
Integrated Gas, Renewables and Power | Saft Batterijen B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 99.34% |
Integrated Gas, Renewables and Power | Saft Do Brasil Ltda | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 99.34% |
Integrated Gas, Renewables and Power | Saft Ferak AS | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 99.34% |
Integrated Gas, Renewables and Power | Saft Finance S.A.R.L. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 99.34% |
Integrated Gas, Renewables and Power | Saft Groupe S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 99.34% |
Integrated Gas, Renewables and Power | Saft Hong Kong Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 99.34% |
Integrated Gas, Renewables and Power | Saft India Private Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 99.34% |
Integrated Gas, Renewables and Power | Saft Japan KK | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 99.34% |
Integrated Gas, Renewables and Power | Saft Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 99.34% |
Integrated Gas, Renewables and Power | Saft LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 99.34% |
Integrated Gas, Renewables and Power | Saft Nife ME Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 99.34% |
Integrated Gas, Renewables and Power | Saft S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 99.34% |
Integrated Gas, Renewables and Power | SGS Antelope Valley Development, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Sgula (East) Green Energies Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Smalt Energie | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Societe d'exploitation de centrales photovoltaiques 1 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 27.65% |
Integrated Gas, Renewables and Power | Solaire Grand Sud | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Solaire Libron | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Solar Carport NJ, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Mimizan | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Solar Sail Commercial Holdings, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Sail Holdings, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Sail, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star Always Low Prices Ct, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star Always Low Prices Hi, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star Always Low Prices Il, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star Always Low Prices Ma, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star Arizona HMR-I, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star Arizona II, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star Arizona VII, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star Bay City 2, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star California I, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star California IV, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star California LXXV, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star California LXXVI, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star California XXXV, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star California XXXVI, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star California XXXVIII, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star Co Co 1, LC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star Coastal Pirate, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star Colorado II, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star Cougars, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star HD Connecticut, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star HD Maryland, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star HD New Jersey, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star HD New York, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star Healthy 1, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star Healthy Lake, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star IL - TFS, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star Irwd Baker, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star Kale 1, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star Kale 2 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star Khsd, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star LCR Culver City, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star LCR Irvine, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star LCR LA 1, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star LCR LA 2, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star LCR Split 1, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star LCR Split 2, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star MA - Tewksbury, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star Massachusetts II, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star Massachusetts III, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star Maxx 1, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star Northwestern University, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star Parent CRC Kern Front, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star Parent CRC Mt. Poso, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star Parent CRC North Shafter, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star Parent CRC Pier A West, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star Parent CRC Yowlumne 1 North, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star Parent CRC Yowlumne 2 South, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star Prairie Holding, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star Prime 2, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star Prime 3, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star Prime 4, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star Rancho CWD I, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star River, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star Track, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star Urbana Landfill Central, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star Urbana Landfill East, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star Urbana Landfill West, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star Wildcats, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solar Star Woodlands St Cr, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SolarBridge Technologies Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solarstar Billerica I, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solarstar Ma I, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Solarstar Prime I, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SolarStorage Fund A, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SolarStorage Fund B, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SolarStorage Fund C, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SPML Land Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SPWR SS 1, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SPWR SunStrong Holdings, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SREC NE II Holdings, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SREC NE II, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SSCA XLI Holding Company, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower AssetCo, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Bermuda Holdings | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Bobcat Solar, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Capital Services, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Capital, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Commercial FTB Construction, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Commercial Holding Company FTB SLB Parent, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Commercial Holding Company FTB SLB, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Sunpower Commercial St Revolver, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Corp Israel Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Corporation | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Corporation (Switzerland) S.A.R.L. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Corporation Australia PTY Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Corporation Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Corporation Mexico, S. de R.L. de C.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Corporation Southern Africa (PTY) Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Corporation SPA | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Corporation UK Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Corporation, Systems | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower DevCo, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Energia SPA | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Energy Corporation Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Energy Solutions France S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Energy Systems Canada Corporation | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Energy Systems Korea | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Energy Systems Singapore PTE Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Energy Systems Southern Africa (PTY) Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Energy Systems Spain, SL | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Equity Holdings, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Foundation | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower GmbH | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Helix I, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower HoldCo, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Italia S.R.L. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Japan KK | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Malaysia Manufacturing Sdn. Bhd. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Malta Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Manufacturing (PTY) Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Manufacturing Corporation Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Manufacturing de Vernejoul | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Manufacturing Oregon, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Muhendislik Insaat Enerji Uretim ve Ticaret A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Nanao Parent, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Netherlands B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower North America, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower NY CDG 1,LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Osato Parent, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Philippines Limited - Regional Operating Headquarters | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Philippines Manufacturing Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Revolver HoldCo I Parent, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Revolver HoldCo I, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Solar Energy Technology (Tianjin) Corporation, Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Solar India Private Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Solar Malaysia Sdn. Bhd. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Systems Belgium SPRL | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Systems International Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Systems Mexico S. de R.L. de C.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Systems S.A.R.L. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Technologies France S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Sunpower Technologies, Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunPower Technology Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | SunStrong Capital Acquisition 3, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Swingletree Operations, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Tadiran Batteries GmbH | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 99.34% |
Integrated Gas, Renewables and Power | Tadiran Batteries Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 99.34% |
Integrated Gas, Renewables and Power | TEMASOL | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Tenesol SPV 1 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Tenesol Venezuela | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Thezan Solar | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Toitures Capiscol | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total Carbon Neutrality Ventures Europe | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total Carbon Neutrality Ventures International | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total Direct Energie Centrale Electrique Bayet | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total Direct Energie centrale Electrique Marchienne au Pont | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total Direct Energie Belgium | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total Direct Energie Centrale Electrique de Toul | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total Direct Energie Concessions | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total Direct Energie Generation | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total Direct Energie Hambregie | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total Direct Energie S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total Direct Energie Services | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total Direct Energie Yfregie | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total Direct Energies Centrale Electrique de Pont Sur Sambres | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total E&P Australia | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total E&P Australia Exploration PTY Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total E&P Australia II | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total E&P Australia III | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total E&P Barnett usa (75) | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total E&P Holding Ichthys | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total E&P Holdings Australia Pty Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total E&P Ichthys B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total E&P Indonesia Mentawai B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total E&P Indonesie | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total E&P Mauritius Holding Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total E&P Mozambique Area 1, Limitada | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total E&P Oman Dev. B.V | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total E&P PNG 2 B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total E&P PNG 5 B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total E&P PNG Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total E&P Salmanov | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total E&P Sebuku | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total E&P Yamal | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total Energy Investments Tianjin | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total Energy Ventures Emerging Markets | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total Energie Do Brasil | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Total Energie Gas GmbH | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total Energy Services | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total Gas & Power Actifs Industriels | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total Gas & Power Asia Private Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total Gas & Power Brazil | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total Gas & Power Chartering Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total Gas & Power Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total Gas & Power North America Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total Gas & Power Services Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total Gas & Power Thailand | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total Gas and Power Limited, London, Meyrin - Geneva Branch | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total Gas Pipeline USA Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total Gas Y Electricidad Argentina S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total Gasandes | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total Gaz Electricite Holdings France | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total GLNG Australia | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total GLNG Australia Holdings | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total Investment Management Tianjin | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total LNG Angola | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total Midstream Holdings UK Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total New Energies Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total New Energies Ventures USA, Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total Quadran | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total Renewables | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total Solar Intl | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total Solar Latin America SPA | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total SunPower Energia S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Total Tengah | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total USA International, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Total Yemen LNG Company Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Tugboat Commercial Pledgor, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Valorene | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 66.00% |
Integrated Gas, Renewables and Power | Vega Solar 1 S.A.P.I. de C.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Vega Solar 2 S.A.P.I. de C.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Vega Solar 3 S.A.P.I. de C.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 46.74% |
Integrated Gas, Renewables and Power | Vent De Thierache 01 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 51.00% |
Integrated Gas, Renewables and Power | Vent De Thierache 02 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 51.00% |
Integrated Gas, Renewables and Power | Vent De Thierache 03 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Vents D'Oc Centrale D'Energie Renouvelable 18 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Vents D'Oc Energies Renouvelables | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Watt Prox | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Winergy | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Zeeland Solar B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Eolienne De La Vallee Gentillesse | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 74.80% |
Integrated Gas, Renewables and Power | Centrale Eolienne La Cote Du Moulin A Vent | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Eolienne Varades | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 51.00% |
Integrated Gas, Renewables and Power | Centrale Hydrolique Alas | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Hydrolique Ardon | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 90.00% |
Integrated Gas, Renewables and Power | Centrale Hydrolique Arvan | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Hydrolique Barbaira | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Hydrolique Bonnant | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Hydrolique La Buissiere | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Hydrolique Previnquieres | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Autoprod | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Base 112 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Briffaut | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Cet De Hesse | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Chemin De Melette | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire DE LA Med | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Dom | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire DU Lavoir | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 60.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Ficon | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Guinots | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire La Metairie | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire La Potence | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire La Sauteirane | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire La Tastere | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Les Ancizes | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Les Canebieres | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Lyreco | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Ombrieres De Blyes | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Ombrieres De Boujan | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Ombrieres P5 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Pont Sur Sambre | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire SPW2 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Toiture Josse | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Integrated Gas, Renewables and Power | Abu Dhabi Gas Liquefaction Company Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 5.00% |
Integrated Gas, Renewables and Power | Adani Total Private Limited (e) | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50.00% |
Integrated Gas, Renewables and Power | Advanced Thermal Batteries Inc. | |
Consolidation scope | |
Group interest, equity method (as a percent) | 49.67% |
Integrated Gas, Renewables and Power | Aerospatiale Batteries (ASB) | |
Consolidation scope | |
Group interest, equity method (as a percent) | 49.67% |
Integrated Gas, Renewables and Power | Aerowatt Energies | |
Consolidation scope | |
Group interest, equity method (as a percent) | 65.00% |
Integrated Gas, Renewables and Power | Aerowatt Energies 2 | |
Consolidation scope | |
Group interest, equity method (as a percent) | 51.00% |
Integrated Gas, Renewables and Power | Aerowatt Energies Nogara | |
Consolidation scope | |
Group interest, equity method (as a percent) | 65.00% |
Integrated Gas, Renewables and Power | Aerowatt Energies Nogara 2 | |
Consolidation scope | |
Group interest, equity method (as a percent) | 51.00% |
Integrated Gas, Renewables and Power | Altinergie | |
Consolidation scope | |
Group interest, equity method (as a percent) | 51.00% |
Integrated Gas, Renewables and Power | Angola LNG Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 13.60% |
Integrated Gas, Renewables and Power | Arctic LNG 2 LLC | |
Consolidation scope | |
Group interest, equity method (as a percent) | 21.64% |
Percentage of control in associate or joint venture | 10.00% |
Integrated Gas, Renewables and Power | ATJV Offshore | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50.00% |
Integrated Gas, Renewables and Power | Cameron LNG Holdings LLC | |
Consolidation scope | |
Group interest, equity method (as a percent) | 16.60% |
Integrated Gas, Renewables and Power | Centrale Photovoltaique De Merle Sud | |
Consolidation scope | |
Group interest, equity method (as a percent) | 40.58% |
Integrated Gas, Renewables and Power | Co Biogaz | |
Consolidation scope | |
Group interest, equity method (as a percent) | 26.00% |
Integrated Gas, Renewables and Power | Colon LNG Marketing S. de R. L. | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50.00% |
Integrated Gas, Renewables and Power | Cote d'Ivoire GNL | |
Consolidation scope | |
Group interest, equity method (as a percent) | 34.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Betheniville | |
Consolidation scope | |
Group interest, equity method (as a percent) | 51.12% |
Integrated Gas, Renewables and Power | Centrale Solaire Estarac | |
Consolidation scope | |
Group interest, equity method (as a percent) | 35.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Gigognan | |
Consolidation scope | |
Group interest, equity method (as a percent) | 51.49% |
Integrated Gas, Renewables and Power | Centrale Solaire Heliovale | |
Consolidation scope | |
Group interest, equity method (as a percent) | 59.63% |
Integrated Gas, Renewables and Power | Centrale Solaire Le Cres | |
Consolidation scope | |
Group interest, equity method (as a percent) | 51.49% |
Integrated Gas, Renewables and Power | Centrale Solaire Olinoca | |
Consolidation scope | |
Group interest, equity method (as a percent) | 10.00% |
Integrated Gas, Renewables and Power | Centrale Solaire Sableyes | |
Consolidation scope | |
Group interest, equity method (as a percent) | 51.49% |
Integrated Gas, Renewables and Power | Dongfang Huansheng Photovoltaic (Jiangsu) Company Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 9.35% |
Integrated Gas, Renewables and Power | Eole Balaze 2 | |
Consolidation scope | |
Group interest, equity method (as a percent) | 65.00% |
Integrated Gas, Renewables and Power | Eole Balaze S.A.R.L. | |
Consolidation scope | |
Group interest, equity method (as a percent) | 66.75% |
Integrated Gas, Renewables and Power | Eole Desirade 4 | |
Consolidation scope | |
Group interest, equity method (as a percent) | 66.67% |
Integrated Gas, Renewables and Power | Eole La Motelle | |
Consolidation scope | |
Group interest, equity method (as a percent) | 66.67% |
Integrated Gas, Renewables and Power | Eole Maxent | |
Consolidation scope | |
Group interest, equity method (as a percent) | 66.75% |
Integrated Gas, Renewables and Power | Eole Petite Place | |
Consolidation scope | |
Group interest, equity method (as a percent) | 53.45% |
Integrated Gas, Renewables and Power | Eoloue | |
Consolidation scope | |
Group interest, equity method (as a percent) | 17.34% |
Integrated Gas, Renewables and Power | Fosmax LNG | |
Consolidation scope | |
Group interest, equity method (as a percent) | 27.50% |
Integrated Gas, Renewables and Power | Gas Del Litoral SRLCV | |
Consolidation scope | |
Group interest, equity method (as a percent) | 25.00% |
Integrated Gas, Renewables and Power | Gulf Total Tractebel Power Company PSJC | |
Consolidation scope | |
Group interest, equity method (as a percent) | 20.00% |
Integrated Gas, Renewables and Power | Helio Beziers | |
Consolidation scope | |
Group interest, equity method (as a percent) | 65.53% |
Integrated Gas, Renewables and Power | Helio Florensac | |
Consolidation scope | |
Group interest, equity method (as a percent) | 65.35% |
Integrated Gas, Renewables and Power | Helio La Perriere | |
Consolidation scope | |
Group interest, equity method (as a percent) | 66.67% |
Integrated Gas, Renewables and Power | Helio Logistique | |
Consolidation scope | |
Group interest, equity method (as a percent) | 65.09% |
Integrated Gas, Renewables and Power | Helio Orange | |
Consolidation scope | |
Group interest, equity method (as a percent) | 65.06% |
Integrated Gas, Renewables and Power | Huaxia CPV (Inner Mongolia) Power Corporation, Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 11.68% |
Integrated Gas, Renewables and Power | Hydro Tinee | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50.00% |
Integrated Gas, Renewables and Power | Ichthys LNG PTY Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 26.00% |
Integrated Gas, Renewables and Power | Ise Total Nanao Power Plant G.K. | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50.00% |
Integrated Gas, Renewables and Power | Jingdan New Energy Investment (Shanghai) Co. Ltd | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50.00% |
Integrated Gas, Renewables and Power | La Metairie Neuve | |
Consolidation scope | |
Group interest, equity method (as a percent) | 25.00% |
Integrated Gas, Renewables and Power | Missiles & Space Batteries Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 49.67% |
Integrated Gas, Renewables and Power | Miyako Kuzakai Solarpark G.K. | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50.00% |
Integrated Gas, Renewables and Power | Mulilo Prieska PV (RF) Proprietary Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 27.00% |
Integrated Gas, Renewables and Power | National Gas Shipping Company Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 5.00% |
Integrated Gas, Renewables and Power | Nigeria LNG Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 15.00% |
Integrated Gas, Renewables and Power | Nouvelle Centrale Eolienne de Lastours | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50.00% |
Integrated Gas, Renewables and Power | Nouvelle Entreprise D'Energie Solaire | |
Consolidation scope | |
Group interest, equity method (as a percent) | 51.00% |
Integrated Gas, Renewables and Power | Nyk Armateur S.A.S. | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50.00% |
Integrated Gas, Renewables and Power | Oman LNG, LLC | |
Consolidation scope | |
Group interest, equity method (as a percent) | 5.54% |
Integrated Gas, Renewables and Power | Parc Des Hauts Vents | |
Consolidation scope | |
Group interest, equity method (as a percent) | 66.75% |
Integrated Gas, Renewables and Power | Parc Eolien Nordex III | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50.00% |
Integrated Gas, Renewables and Power | Parc Eolien Nordex XXIX | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50.00% |
Integrated Gas, Renewables and Power | Parc Eolien Nordex XXX | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50.00% |
Integrated Gas, Renewables and Power | Partrederiet Bw Gas Global LNG | |
Consolidation scope | |
Group interest, equity method (as a percent) | 49.00% |
Integrated Gas, Renewables and Power | PV Salvador SPA | |
Consolidation scope | |
Group interest, equity method (as a percent) | 20.00% |
Integrated Gas, Renewables and Power | Qatar Liquefied Gas Company Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 10.00% |
Integrated Gas, Renewables and Power | Qatar Liquefied Gas Company Limited (II) | |
Consolidation scope | |
Group interest, equity method (as a percent) | 16.70% |
Integrated Gas, Renewables and Power | Quadrica | |
Consolidation scope | |
Group interest, equity method (as a percent) | 51.00% |
Integrated Gas, Renewables and Power | Roquefort Solar | |
Consolidation scope | |
Group interest, equity method (as a percent) | 51.00% |
Integrated Gas, Renewables and Power | Shams Power Company PJSC | |
Consolidation scope | |
Group interest, equity method (as a percent) | 20.00% |
Integrated Gas, Renewables and Power | Societe Champenoise d'Energie | |
Consolidation scope | |
Group interest, equity method (as a percent) | 16.00% |
Integrated Gas, Renewables and Power | Societe Economie Mixte Production Energetique Renouvelable | |
Consolidation scope | |
Group interest, equity method (as a percent) | 35.92% |
Integrated Gas, Renewables and Power | Solaire Villon | |
Consolidation scope | |
Group interest, equity method (as a percent) | 51.60% |
Integrated Gas, Renewables and Power | Solar Energies | |
Consolidation scope | |
Group interest, equity method (as a percent) | 65.00% |
Integrated Gas, Renewables and Power | Sophye Lacmort | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50.00% |
Integrated Gas, Renewables and Power | South Hook LNG Terminal Company Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 8.35% |
Integrated Gas, Renewables and Power | Sunstrong Capital Holdings, LLC | |
Consolidation scope | |
Group interest, equity method (as a percent) | 23.84% |
Integrated Gas, Renewables and Power | SunStrong Partners, LLC | |
Consolidation scope | |
Group interest, equity method (as a percent) | 14.83% |
Integrated Gas, Renewables and Power | Sunzil | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50.00% |
Integrated Gas, Renewables and Power | Sunzil Caraibes | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50.00% |
Integrated Gas, Renewables and Power | Sunzil Mayotte S.A.S. | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50.00% |
Integrated Gas, Renewables and Power | Sunzil Ocean Indien | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50.00% |
Integrated Gas, Renewables and Power | Sunzil Pacific | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50.00% |
Integrated Gas, Renewables and Power | Sunzil Polynesie | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50.00% |
Integrated Gas, Renewables and Power | Sunzil Polynesie Services | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50.00% |
Integrated Gas, Renewables and Power | Sunzil Services Caraibes | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50.00% |
Integrated Gas, Renewables and Power | Sunzil Services Ocean Indien | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50.00% |
Integrated Gas, Renewables and Power | Tianneng Saft Energy Joint Stock Company | |
Consolidation scope | |
Group interest, equity method (as a percent) | 40.00% |
Integrated Gas, Renewables and 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 and Power | Total Eren Holding | |
Consolidation scope | |
Group interest, equity method (as a percent) | 33.86% |
Integrated Gas, Renewables and Power | Total Tractebel Emirates O & M Company | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50.00% |
Integrated Gas, Renewables and Power | Total Tractebel Emirates Power Company | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50.00% |
Integrated Gas, Renewables and Power | Transportadora de Gas del Mercosur S.A. | |
Consolidation scope | |
Group interest, equity method (as a percent) | 32.68% |
Integrated Gas, Renewables and Power | TSGF SPA | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50.00% |
Integrated Gas, Renewables and Power | Vertigo | |
Consolidation scope | |
Group interest, equity method (as a percent) | 25.00% |
Integrated Gas, Renewables and Power | Yamal LNG | |
Consolidation scope | |
Group interest, equity method (as a percent) | 29.73% |
Percentage of control in associate or joint venture | 20.02% |
Integrated Gas, Renewables and Power | Yemen LNG Company Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 39.62% |
Refining & Chemicals | Appryl S.N.C | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 50.00% |
Refining & Chemicals | Atlantic Trading and Marketing Financial Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Atlantic Trading and Marketing Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Balzatex S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Barry Controls Aerospace S.N.C. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | BASF Total Petrochemicals LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 40.00% |
Refining & Chemicals | Bay Junction Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Borrachas Portalegre Ltda | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | BOU Verwaltungs GmbH | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Catelsa-Caceres S.A.U. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Cie Tunisienne du Caoutchouc S.A.R.L. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Composite Industrie Maroc S.A.R.L. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Composite Industrie S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Cosden, LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | COS-MAR Company | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 50.00% |
Refining & Chemicals | Cray Valley (Guangzhou) Chemical Company, Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Cray Valley Czech | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Cray Valley HSC Asia Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Cray Valley Italia S.R.L. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Cray Valley S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | CSSA - Chartering and Shipping Services S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Espa S.A.R.L. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
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) | 100.00% |
Refining & Chemicals | Fina Pipeline Co | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | FINA Technology, Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Gasket (Suzhou) Valve Components Company, Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Gasket International S.R.L. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Grande Paroisse S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | HBA Hutchinson Brasil Automotive Ltda | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Hutchinson (UK) Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Hutchinson (Wuhan) Automotive Rubber Products Company Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Hutchinson Aeronautique & Industrie Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Hutchinson Aeroservices S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Hutchinson Aerospace & Industry Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Hutchinson Aerospace GmbH | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Hutchinson Aftermarket USA Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Hutchinson Antivibration Systems Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Hutchinson Automotive Systems Company, Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Hutchinson Autopartes Mexico S.A. de C.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Hutchinson Borrachas de Portugal Ltda | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Hutchinson Corporation | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Hutchinson d.o.o Ruma | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Hutchinson Do Brasil S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Hutchinson Fluid Management Systems Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Hutchinson GmbH | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Hutchinson Holding GmbH | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Hutchinson Holdings UK Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Hutchinson Iberia S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Hutchinson Industrial Rubber Products (Suzhou) Company, Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Hutchinson Industrias Del Caucho SAU | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Hutchinson Industries Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Hutchinson Japan Company Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Hutchinson Korea Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Hutchinson Maroc S.A.R.L. AU | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Hutchinson Poland SP ZO.O. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Hutchinson Polymers S.N.C. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Hutchinson Porto | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Hutchinson Precision Sealing Systems Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Hutchinson Research & Innovation Singapore PTE. Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Hutchinson Rubber Products Private Limited Inde | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Hutchinson S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Hutchinson S.N.C. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Hutchinson S.R.L. (Italie) | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Hutchinson S.R.L. (Roumanie) | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Hutchinson Sales Corporation | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Hutchinson Seal De Mexico S.A. de CV. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Hutchinson Sealing Systems Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Hutchinson SRO | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Hutchinson Stop - Choc GmbH & CO. KG | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Hutchinson Suisse S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Hutchinson Transferencia de Fluidos S.A. de C.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Hutchinson Tunisie S.A.R.L. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Hutchinson Vietnam Company Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Industrias Tecnicas De La Espuma SL | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Industrielle Desmarquoy S.N.C. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
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) | 100.00% |
Refining & Chemicals | KTN Kunststofftechnik Nobitz GmbH | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Le Joint Francais S.N.C. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Legacy Site Services Funding Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Legacy Site Services LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Les Stratifies S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Lone Wolf Land Company | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Machen Land Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Mide Technology Corporation | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Naphtachimie | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 50.00% |
Refining & Chemicals | Novogy, Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Olutex Oberlausitzer Luftfahrttextilien GmbH | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Pamargan (Malta) Products Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Pamargan Products Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Paulstra S.N.C. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Paulstra Silentbloc S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | PFW Aerospace GmbH | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | PFW Havacilik Sanayi ve Dis Ticaret Limited Sirtketi | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | PFW Uk Machining Ltd. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Polyblend GmbH | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 68.00% |
Refining & Chemicals | Resilium | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Retia | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Retia USA LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | SigmaKalon Group B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Societe Bearnaise De Gestion Industrielle | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Stillman Seal Corporation | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Stop-Choc (UK) Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Techlam S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Thermal Control Systems Automotive Sasu | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 60.00% |
Refining & Chemicals | Total Activites Maritimes | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Total Atlantic Trading Mexico SA De CV | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Total Country Services Belgium | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Total Deutschland GmbH | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Total Downstream UK PLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Total Energy Marketing A/S | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Total European Trading | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Total Laffan Refinery | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Total Laffan Refinery II B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Total Lindsey Oil Refinery Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Total New Energies USA, Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Total Olefins Antwerp | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Total Opslag En Pijpleiding Nederland NV | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 55.00% |
Refining & Chemicals | Total PAR LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Total Petrochemicals (Hong Kong) Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Total Petrochemicals (Shangai) Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Total Petrochemicals Development Feluy | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Total Petrochemicals Ecaussinnes | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Total Petrochemicals Feluy | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Total Petrochemicals France | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Total Petrochemicals Iberica | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Total Petrochemicals Pipeline USA Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Total Petrochemicals UK Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Total Polymers Antwerp | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Total Raffinaderij Antwerpen N.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Total Raffinage Chimie S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Total Raffinage France | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Total Raffinerie Mitteldeutschland GmbH | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Total Refining & Chemicals Saudi Arabia S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Total Research & Technology Feluy | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Total Splitter USA Inc | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Total Trading and Marketing Canada LP | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Total Trading Asia Pte Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Total Trading Canada Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Total Trading Products S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | TOTSA Total Oil Trading S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Transalpes S.N.C. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 67.00% |
Refining & Chemicals | Trans-Ethylene | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 99.98% |
Refining & Chemicals | Tssa Total Storage & Services S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Vibrachoc S.A.U. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Refining & Chemicals | Zeeland Refinery NV | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 55.00% |
Refining & Chemicals | Bayport Polymers LLC | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50.00% |
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 Total Petrochemical Co. Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50.00% |
Refining & Chemicals | Laffan Refinery Company Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 10.00% |
Refining & Chemicals | Laffan Refinery Company Limited 2 | |
Consolidation scope | |
Group interest, equity method (as a percent) | 10.00% |
Refining & Chemicals | LaPorte Pipeline Company LP | |
Consolidation scope | |
Group interest, equity method (as a percent) | 20.16% |
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) | 20.00% |
Refining & Chemicals | Qatofin Company Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 49.09% |
Refining & Chemicals | San Jacinto Rail Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 17.00% |
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) | 49.00% |
Refining & Chemicals | Total Corbion PLA B.V. | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50.00% |
Refining & Chemicals | Totseanergy | |
Consolidation scope | |
Group interest, equity method (as a percent) | 49.00% |
Marketing & Services | Air Total (Suisse) S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Air Total International S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Alvea | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Antilles Gaz | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Argedis | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | AS 24 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | AS24 Belgie N.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | AS24 Espanola S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | AS24 Fuel Cards Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | AS24 Lithuanie | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | AS24 Polska SP ZO.O. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | AS24 Tankservice GmbH | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Caldeo | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Charvet La Mure Bianco | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Compagnie Petroliere de l'Ouest - CPO | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | CPE Energies | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Cristal Marketing Egypt | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 80.78% |
Marketing & Services | DCA-MORY-SHIPP | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Egedis | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Elf Oil UK Aviation Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Elf Oil UK Properties Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Fioulmarket.fr | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Gapco Kenya Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Gapco Tanzania Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Gapco Uganda Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Guangzhou Elf Lubricants Company Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 77.00% |
Marketing & Services | Gulf Africa Petroleum Corporation | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Lubricants Vietnam Holding Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Pitpoint B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Pitpoint Cng B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Produits Petroliers Stela | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 99.99% |
Marketing & Services | Quimica Vasca S.A.U. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Servauto Nederland B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
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) | 100.00% |
Marketing & Services | Societe Urbaine des Petroles | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total (Africa) Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total (Fiji) Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Additifs et Carburants Speciaux | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Africa S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Aviation & Export Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Belgium | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Bitumen Deutschland GmbH | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Bitumen UK Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Botswana (PTY) Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 50.10% |
Marketing & Services | Total Brasil Diesel Comercio e Transportes Ltda | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Brasil Distribuidora Ltda | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Burkina | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Cambodge | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Cameroun | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 67.01% |
Marketing & Services | Total Caraibes | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Ceska Republika S.R.O. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total China Investment Company Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Congo | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Corse | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Cote D'Ivoire | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 72.99% |
Marketing & Services | Total Denmark A/S | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Egypt | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 80.78% |
Marketing & Services | Total Espana S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Especialidades Argentina | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 98.78% |
Marketing & Services | Total Ethiopia | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Fluides | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Fuels Wuhan Company Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Glass Lubricants Europe GmbH | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Guadeloupe | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Guinea Ecuatorial | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 70.00% |
Marketing & Services | Total Guinee | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Holding Asie | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Holding India | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Italia | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Jamaica Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Jordan PSC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Kenya | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 93.96% |
Marketing & Services | Total Liban | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Liberia Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Lubricants (China) Company Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 77.00% |
Marketing & Services | Total Lubricants Taiwan Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 63.00% |
Marketing & Services | Total Lubrifiants | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 99.98% |
Marketing & Services | Total Lubrifiants Algerie | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 78.90% |
Marketing & Services | Total Lubrifiants Service Automobile | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 99.98% |
Marketing & Services | Total Luxembourg S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Madagasikara S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 79.44% |
Marketing & Services | Total Malawi Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Mali | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Marine Fuels | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Marketing Egypt | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 80.78% |
Marketing & Services | Total Marketing France | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Marketing Gabon | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 90.00% |
Marketing & Services | Total Marketing Middle East Free Zone | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Marketing Services | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Marketing Tchad | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Marketing Uganda | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Maroc | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 55.00% |
Marketing & Services | Total Mauritius | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 55.00% |
Marketing & Services | Total Mayotte | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Mexico S.A. de C.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Mineraloel und Chemie GmbH | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Mineralol GmbH | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Mozambique | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Namibia (PTY) Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 50.10% |
Marketing & Services | Total Nederland NV | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Niger S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Nigeria PLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 61.72% |
Marketing & Services | Total Oil Asia-Pacific Pte Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Oil India Private Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Outre-Mer | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Pacifique | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Paiement Services | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Petroleum (Shanghai) Company Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Petroleum Ghana Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 76.74% |
Marketing & Services | Total Petroleum Puerto Rico Corp. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Polska | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Polynesie | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total RDC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 60.00% |
Marketing & Services | Total Reunion | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Romania S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Senegal | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 69.14% |
Marketing & Services | Total Singapore Shared Services Pte Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total South Africa (PTY) Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 50.10% |
Marketing & Services | Total Specialties USA Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Supply MS S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Swaziland (PTY) Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 50.10% |
Marketing & Services | Total Tanzania Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Tianjin Manufacturing Company Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 77.00% |
Marketing & Services | Total Togo | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 76.72% |
Marketing & Services | Total Tunisie | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Turkey Pazarlama | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total UAE LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 49.00% |
Marketing & Services | Total Uganda Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total UK Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Ukraine LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Vietnam Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Vostok | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Zambia | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Marketing & Services | Total Zimbabwe | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 80.00% |
Marketing & Services | Totalgaz Vietnam LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
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) | 70.00% |
Marketing & Services | Aristea | |
Consolidation scope | |
Group interest, equity method (as a percent) | 51.00% |
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) | 24.85% |
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) | 51.00% |
Marketing & Services | S-Oil Total Lubricants Company Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50.00% |
Marketing & Services | South Asia LPG Private Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50.00% |
Marketing & Services | Total Freeport Corporation | |
Consolidation scope | |
Group interest, equity method (as a percent) | 51.00% |
Marketing & Services | Total Parco Pakistan Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 50.00% |
Marketing & Services | Total Philippines Corporation | |
Consolidation scope | |
Group interest, equity method (as a percent) | 51.00% |
Marketing & Services | Total Sinochem Fuels Company Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 49.00% |
Marketing & Services | Total Sinochem Oil Company Limited | |
Consolidation scope | |
Group interest, equity method (as a percent) | 49.00% |
Marketing & Services | Trapil | |
Consolidation scope | |
Group interest, equity method (as a percent) | 35.50% |
Corporate | Albatros | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Elf Aquitaine Fertilisants | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Elf Aquitaine Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Elf Forest Products LLC | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Etmofina | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Omnium Reinsurance Company S.A. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Pan Insurance Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Septentrion Participations | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Socap S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Societe Civile Immobiliere CB2 | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Sofax Banque | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Total American Services Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Total Capital | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Total Capital Canada Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Total Capital International | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Total Consulting | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Total Corporate Management (Beijing) Company Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Total Delaware Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Total Developpement Regional S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Total Facilities Management Services (TFMS) | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Total Finance | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Total Finance Corporate Services Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Total Finance Global Services (TOFIG) | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Total Finance International B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Total Finance Nederland B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Total Finance USA Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Total Funding Nederland B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Total Funding Nederland International B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Total Gestion Filiales | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Total Gestion USA | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Total Global Financial Services | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Total Global Human Ressources Services | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Total Global Information Technology Services Belgium | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 99.98% |
Corporate | Total Global IT Services (TGITS) | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Total Global Procurement (TGP) | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Total Global Procurement Belgium S.A. (TGPB) | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Total Global Services Bucharest | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 99.01% |
Corporate | Total Global Services Philippines | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Total Holding Allemagne | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Total Holdings Europe | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Total Holdings International B.V. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Total Holdings S.A.S. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Total Holdings UK Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Total Holdings USA Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Total International NV | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Total Investments | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Total Learning Solutions (TLS) | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Total Operations Canada Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Total Overseas Holding (PTY) Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Total Participations | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Total Petrochemicals & Refining S.A./NV | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Total Petrochemicals & Refining USA Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Total Petrochemicals Security USA Inc. | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Total Resources (Canada) Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Total Treasury | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |
Corporate | Total UK Finance Limited | |
Consolidation scope | |
Group interest, fully consolidated (as a percent) | 100.00% |