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Segment information and information by geographical area | 12 Months Ended
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Dec. 31, 2021
Segment information and information by geographical area |
Segment information and information by geographical area | 35 Segment information and information by geographic area Segment information Eni's segmental reporting reflects the Group's operating segments, whose results are regularly reviewed by the Chief Operating Decision Maker (the CEO) to assess segment performance and to make decisions about resources to be allocated to each segment. The organization is based on two General Departments: ● Natural Resources, to build up the value of Eni’s oil&gas upstream portfolio, with the objective of reducing its carbon footprint by scaling up energy efficiency and expanding production in the natural gas business, and its position in the wholesale market. Furthermore, it will focus its actions on the development of carbon capture and compensation projects. The General Department incorporates the Company’s oil&gas exploration, development and production activities, natural gas wholesale via pipeline and LNG, forests conservation (REDD+) and CO2 storage projects. ● Energy Evolution, focused on the evolution of the businesses of power generation, transformation and marketing of products from fossil to bio and blue. the responsibility of this Department include the growth of power generation from renewable energy and biomethane, the coordination of the bio and circular evolution of the Company’s refining system and chemical business, and the development of Eni’s retail portfolio, providing increasingly more decarbonized products for mobility, household consumption and small enterprises. The General Department incorporates the activities of power generation from natural gas and renewables, the refining and chemicals businesses, Retail Gas&Power and mobility Marketing. The companies Versalis (chemical products), Eni Rewind (environmental activities) and Eni gas e luce, in their current structure, are consolidated in this General Department. In relation to financial reporting purposes, management evaluated that the components of the Company whose operating results are regularly reviewed by the Chief Operating Decision Maker (CEO) to make decisions about the allocation of resources and to assess performances would continue being the single business units which are comprised in the two newly-established General Departments, rather than the two groups themselves. Therefore, in order to comply with the provisions of the international reporting standard that regulates the segment reporting (IFRS 8), the new reportable segments of Eni, substantially confirming the pre-existing setup, are identified as follows: ● Exploration & Production: research, development and production of oil, condensates and natural gas, forestry conservation (REDD+) and CO2 capture and storage projects. ● Global Gas & LNG Portfolio (GGP): supply and sale of wholesale natural gas via pipeline, international transport and purchase and marketing of LNG. It includes gas trading activities finalized to hedging and stabilizing the trade margins, as well as optimising the gas asset portfolio. ● Refining & Marketing and Chemicals: supply, processing, distribution and marketing of fuels and chemicals. The results of the Chemicals segment were aggregated with the Refining & Marketing performance in a single reportable segment, because these two operating segments have similar economic returns. It comprises the activities of trading oil and products with the aim to execute the transactions on the market in order to balance the supply and stabilize and cover the commercial margins. ● Plenitude & Power: retail sales of gas, electricity and related services, production and wholesale sales of electricity from thermoelectric and renewable plants, services for E-mobility. It includes trading activities of CO2 emission certificates and forward sale of electricity with a view to hedging/optimising the margins of the electricity. ● Corporate and Other activities: includes the main business support functions, in particular holding, central treasury, IT, human resources, real estate services, captive insurance activities, research and development, new technologies, business digitalization and the environmental activity developed by the subsidiary Eni Rewind. Segment information presented to the CEO (i.e. the Chief Operating Decision Maker, ex IFRS 8) includes: revenues, operating profit and directly attributable assets and liabilities. Segment Information ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Refining & | ​ | ​ | ​ | Corporate | ​ | Adjustments | ​ | ​
​ | ​ | Exploration & | ​ | Global Gas & | ​ | Marketing | ​ | Plenitude & | ​ | and Other | ​ | of intragroup | ​ | ​
(€ million) |  | Production |  | LNG Portfolio |  | and Chemicals |  | Power |  | activities | ​ | profits |  | Total
2021 |  |  |  |  |  |  |  | ​ |  | ​ | ​ |  |  |
Sales from operations including intersegment sales |  | 21,742 |  | 20,843 |  | 40,374 |  | 11,187 |  | 1,698 | ​ | — |  | —
Less: intersegment sales |  | (12,896) |  | (3,870) |  | (323) |  | (670) |  | (1,510) | ​ | — |  | —
Sales from operations |  | 8,846 |  | 16,973 |  | 40,051 |  | 10,517 |  | 188 | ​ | — |  | 76,575
Operating profit |  | 10,066 |  | 899 |  | 45 |  | 2,355 |  | (816) | ​ | (208) |  | 12,341
Net provisions for contingencies |  | (221) |  | (139) |  | (137) |  | (1) |  | (186) | ​ | (23) |  | (707)
Depreciation and amortization |  | (5,976) |  | (174) |  | (512) |  | (286) |  | (148) | ​ | 33 |  | (7,063)
Impairments of tangible and intangible assets and right-of-use assets |  | (194) |  | (28) |  | (1,342) |  | (132) |  | (27) | ​ | — |  | (1,723)
Reversals of tangible and intangible assets |  | 1,438 |  | 2 |  | — | ​ | 112 |  | 4 | ​ | — |  | 1,556
Write-off of tangible and intangible assets |  | (384) |  | — |  | (2) |  | (1) |  | — | ​ | — |  | (387)
Share of profit (loss) of equity-accounted investments |  | 8 |  | — |  | (333) |  | — |  | (766) | ​ | — |  | (1,091)
Identifiable assets (a) |  | 61,753 |  | 10,022 |  | 13,326 |  | 8,343 |  | 1,439 | ​ | (591) |  | 94,292
Unallocated assets (b) |  | — |  | — |  | — |  | — |  | — | ​ | — |  | 43,473
Equity-accounted investments |  | 2,639 |  | 17 |  | 2,366 |  | 667 |  | 198 | ​ | — |  | 5,887
Identifiable liabilities (a) |  | 17,046 |  | 10,072 |  | 6,796 |  | 3,786 |  | 3,338 | ​ | (49) |  | 40,989
Unallocated liabilities (b) |  | — |  | — |  | — |  | — |  | — | ​ | — |  | 52,257
Capital expenditure in tangible and intangible assets |  | 3,861 |  | 19 |  | 728 |  | 443 |  | 187 | ​ | (4) |  | 5,234
2020 |  | ​ |  | ​ |  | ​ |  | ​ |  | ​ | ​ | ​ |  | ​
Sales from operations including intersegment sales |  | 13,590 |  | 7,051 |  | 25,340 |  | 7,536 |  | 1,559 | ​ | — | ​ | —
Less: intersegment sales |  | (7,231) |  | (1,689) |  | (403) |  | (401) |  | (1,365) | ​ | — | ​ | —
Sales from operations |  | 6,359 |  | 5,362 |  | 24,937 |  | 7,135 |  | 194 | ​ | — | ​ | 43,987
Operating profit |  | (610) |  | (332) |  | (2,463) |  | 660 |  | (563) | ​ | 33 |  | (3,275)
Net provisions for contingencies |  | (98) |  | (64) |  | (118) |  | 2 |  | (26) | ​ | (45) |  | (349)
Depreciation and amortization |  | (6,273) |  | (125) |  | (575) |  | (217) |  | (146) | ​ | 32 |  | (7,304)
Impairments of tangible and intangible assets and right-of-use assets |  | (2,170) |  | (2) |  | (1,605) |  | (56) |  | (22) | ​ | — |  | (3,855)
Reversals of tangible and intangible assets |  | 282 |  | — |  | 334 |  | 55 |  | 1 | ​ | — |  | 672
Write-off of tangible and intangible assets |  | (322) |  | — |  | — |  | (7) |  | — | ​ | — |  | (329)
Share of profit (loss) of equity-accounted investments |  | (980) |  | (15) |  | (363) |  | 6 |  | (381) | ​ | — |  | (1,733)
Identifiable assets (a) |  | 59,439 |  | 4,020 |  | 10,716 |  | 4,387 |  | 1,444 | ​ | (402) |  | 79,604
Unallocated assets (b) |  | — |  | — |  | — |  | — |  | — | ​ | — |  | 30,044
Equity-accounted investments |  | 2,680 |  | 259 |  | 2,605 |  | 217 |  | 988 | ​ | — |  | 6,749
Identifiable liabilities (a) |  | 17,501 |  | 3,785 |  | 5,460 |  | 2,426 |  | 3,316 | ​ | (83) |  | 32,405
Unallocated liabilities (b) |  | — |  | — |  | — |  | — |  | — | ​ | — |  | 39,750
Capital expenditure in tangible and intangible assets |  | 3,472 |  | 11 |  | 771 |  | 293 |  | 107 | ​ | (10) |  | 4,644
2019 |  | ​ |  | ​ |  | ​ |  | ​ |  | ​ | ​ | ​ |  | ​
Sales from operations including intersegment sales |  | 23,572 |  | 11,779 |  | 42,360 |  | 8,448 |  | 1,676 | ​ | — | ​ | —
Less: intersegment sales |  | (13,073) |  | (2,549) |  | (384) |  | (476) |  | (1,472) | ​ | — | ​ | —
Sales from operations |  | 10,499 |  | 9,230 |  | 41,976 |  | 7,972 |  | 204 | ​ | — | ​ | 69,881
Operating profit |  | 7,417 |  | 431 |  | (682) |  | 74 |  | (688) | ​ | (120) |  | 6,432
Net provisions for contingencies |  | (97) |  | (234) |  | (276) |  | 5 |  | (307) | ​ | 51 |  | (858)
Depreciation and amortization |  | (7,060) |  | (124) |  | (620) |  | (190) |  | (144) | ​ | 32 |  | (8,106)
Impairments of tangible and intangible assets and right-of-use assets |  | (1,347) |  | — |  | (1,127) |  | (83) |  | (13) | ​ | — |  | (2,570)
Reversals of tangible and intangible assets |  | 130 |  | 5 |  | 205 |  | 41 |  | 1 | ​ | — |  | 382
Write-off of tangible and intangible assets |  | (292) |  | — |  | (6) |  | (1) |  | (1) | ​ | — |  | (300)
Share of profit (loss) of equity-accounted investments |  | 7 |  | (21) |  | (63) |  | 10 |  | (21) | ​ | — |  | (88)
Identifiable assets (a) |  | 68,915 |  | 4,092 |  | 13,569 |  | 4,068 |  | 1,643 | ​ | (492) |  | 91,795
Unallocated assets (b) |  | — |  | — |  | — |  | — |  | — | ​ | — |  | 31,645
Equity-accounted investments |  | 4,108 |  | 346 |  | 3,107 |  | 141 |  | 1,333 | ​ | — |  | 9,035
Identifiable liabilities (a) |  | 20,164 |  | 3,836 |  | 6,272 |  | 2,380 |  | 3,890 | ​ | (141) |  | 36,401
Unallocated liabilities (b) |  | — |  | — |  | — |  | — |  | — | ​ | — |  | 39,139
Capital expenditure in tangible and intangible assets |  | 6,980 |  | 15 |  | 933 |  | 357 |  | 89 | ​ | (14) |  | 8,360
(a) | Include assets/liabilities directly associated with the generation of operating profit.
(b) | Include assets/liabilities not directly associated with the generation of operating profit.
Information by geographical area Identifiable assets and investments by geographical area of origin ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Other | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | European | ​ | Rest of | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Other | ​ | ​
(€ million) |  | Italy |  | Union |  | Europe |  | Americas |  | Asia |  | Africa |  | areas |  | Total
2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Identifiable assets(a) |  | 23,718 |  | 6,902 |  | 6,114 |  | 5,718 |  | 17,483 |  | 33,499 |  | 858 |  | 94,292
Capital expenditure in tangible and intangible assets |  | 1,333 |  | 199 |  | 202 |  | 659 |  | 1,203 |  | 1,604 |  | 34 |  | 5,234
2020 |  | ​ |  | ​ |  | ​ |  |  |  |  |  |  |  |  |  |
Identifiable assets(a) |  | 17,228 |  | 4,159 |  | 3,174 |  | 4,485 |  | 16,360 |  | 33,341 |  | 857 |  | 79,604
Capital expenditure in tangible and intangible assets |  | 1,198 |  | 152 |  | 119 |  | 441 |  | 1,267 |  | 1,443 |  | 24 |  | 4,644
2019 |  | ​ |  | ​ |  | ​ |  |  |  |  |  |  |  | ​ |  |
Identifiable assets(a) |  | 19,346 |  | 7,237 |  | 1,151 |  | 5,230 |  | 17,898 |  | 40,021 |  | 912 |  | 91,795
Capital expenditure in tangible and intangible assets |  | 1,402 |  | 306 |  | 9 |  | 1,017 |  | 1,685 |  | 3,886 |  | 55 |  | 8,360
(a) Include assets directly associated with the generation of operating profit. Sales from operations by geographical area of destination
​ | ​ | ​ | ​ | ​ | ​ | ​
(€ million) |  | 2021 |  | 2020 |  | 2019
Italy |  | 29,968 |  | 14,717 |  | 23,312
Other European Union |  | 14,671 |  | 9,508 |  | 18,567
Rest of Europe |  | 12,470 |  | 8,191 |  | 6,931
Americas |  | 4,420 |  | 2,426 |  | 3,842
Asia |  | 7,891 |  | 4,182 |  | 8,102
Africa |  | 7,040 |  | 4,842 |  | 8,998
Other areas |  | 115 |  | 121 |  | 129
​ |  | 76,575 |  | 43,987 |  | 69,881
​

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