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Other notes to the unaudited Condensed Consolidated Interim Financial Statements | 6 Months Ended
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Jun. 30, 2026
Other notes to the unaudited Condensed Consolidated Interim Financial Statements [Abstract] |
Other notes to the unaudited Condensed Consolidated Interim Financial Statements | Other notes to the unaudited Condensed Consolidated Interim Financial Statements Consolidated Statement of Income Interest and other income
Quarters | $ million | Half year
Q2 2026 | Q1 2026 | Q2 2025 |  | 2026 | 2025
1,048 |  | 535 |  | 326 |  | Interest and other income/(expenses) | 1,583 |  | 628 |
|  |  | Of which: |  |
315 |  | 372 |  | 559 |  | Interest income | 686 |  | 1,040 |
25 |  | — |  | 44 |  | Dividend income (from investments in equity securities) | 25 |  | 45 |
642 |  | 64 |  | 128 |  | Net gains/(losses) on sales and revaluation of non-current assets and businesses | 706 |  | 1 |
(54) |  | 30 |  | (447) |  | Net foreign exchange gains/(losses) on financing activities | (24) |  | (584) |
120 |  | 70 |  | 42 |  | Other | 189 |  | 127 |
Depreciation, depletion and amortisation
Quarters | $ million | Half year
Q2 2026 | Q1 2026 | Q2 2025 |  | 2026 | 2025
6,183 |  | 5,743 |  | 6,670 |  | Depreciation, depletion and amortisation | 11,926 |  | 12,111 |
|  |  | Of which: |  |
5,559 |  | 5,738 |  | 5,463 |  | Depreciation | 11,297 |  | 10,593 |
629 |  | 84 |  | 1,238 |  | Impairments | 713 |  | 1,549 |
(6) |  | (79) |  | (31) |  | Impairment reversals | (85) |  | (32) |
Impairment Impairments recognised in the second quarter 2026 of $629 million pre-tax ($545 million post-tax) principally relate to Renewables and Energy Solutions ($581 million). The impairments in Renewables and Energy Solutions were principally triggered by portfolio choices regarding renewable generation assets in Asia and Europe. Impairments recognised in the second quarter 2025 of $1,238 million pre-tax ($877 million post-tax) principally relate to Integrated Gas ($666 million) and Marketing ($399 million). Impairments recognised in Integrated Gas were triggered by lower commodity prices applied in impairment testing. Taxation charge/credit
Quarters | $ million | Half year
Q2 2026 | Q1 2026 | Q2 2025 |  | 2026 | 2025
4,949 |  | 3,570 |  | 2,332 |  | Taxation charge/(credit) | 8,519 |  | 6,415 |
|  |  | Of which: |  |
4,774 |  | 3,407 |  | 2,277 |  | Income tax excluding Pillar Two income tax | 8,180 |  | 6,301 |
175 |  | 163 |  | 55 |  | Income tax related to Pillar Two income tax | 338 |  | 113 |
As required by IAS 12 Income Taxes, Shell has applied the exception to recognising and disclosing information about deferred tax assets and liabilities related to Pillar Two income taxes. On July 13, 2026, the UK Government published draft tax legislation that would exempt foreign permanent establishments from UK taxation, potentially limiting the use of foreign tax attributes against UK profits. Shell is monitoring the development of the draft legislation. Consolidated Statement of Comprehensive Income Currency translation differences
Quarters | $ million | Half year
Q2 2026 | Q1 2026 | Q2 2025 |  | 2026 | 2025
(314) | (820) | 4,127 | Currency translation differences | (1,134) |  | 5,837 |
|  |  | Of which: |  |
(375) | (767) | 4,117 | Recognised in Other comprehensive income | (1,142) |  | 5,736 |
61 | (53) | 9 | (Gain)/loss reclassified to profit or loss | 8 |  | 101 |
Condensed Consolidated Balance Shee t Joint ventures and associates
$ million | June 30, 2026 | December 31, 2025
Joint ventures and associates | 27,997 |  | 27,775 |
In June 2026, Shell's 44% joint venture Raizen filed its restructuring plan which remains subject to court approval. The restructuring plan contemplates a conversion of debt into equity, which would dilute Shell's ownership interest in Raizen, and a capital injection by Shell of BRL3.5 billion ($685 million). The capital injection would only take place after all conditions precedent have been satisfied. If all conditions precedent are not satisfied or waived by March 31, 2027, subject to a one-time extension of up to six months, the restructuring plan will automatically terminate. Assets classified as held for sale
$ million | June 30, 2026 | December 31, 2025
Assets classified as held for sale | 2,395 |  | 1,030 |
Liabilities directly associated with assets classified as held for sale | 821 |  | 820 |
Assets classified as held for sale and associated liabilities at June 30, 2026, principally relate to Sprng Energy in Renewables and Energy Solutions and a working interest in Brazil in Upstream. The major classes of assets and liabilities classified as held for sale at June 30, 2026, are Property, plant and equipment ($2,133 million; December 31, 2025: $662 million) and Decommissioning and other provisions ($466 million; December 31, 2025: $515 million). Consolidated Statement of Cash Flows Other investing cash outflows
Quarters | $ million | Half year
Q2 2026 | Q1 2026 | Q2 2025 |  | 2026 | 2025
(689) |  | (343) |  | (420) |  | Other investing cash outflows | (1,032) |  | (1,814) |
Cash flow from investing activities - Other investing cash outflows for the second quarter 2026 includes settlement of investment related FX swaps and a tax payment related to a disposal gain. Cash flow from operating activities - Other
Quarters | $ million | Half year
Q2 2026 | Q1 2026 | Q2 2025 |  | 2026 | 2025
546 |  | 1,433 |  | 684 |  | Cash flow from operating activities - Other | 1,979 |  | 1,254 |
Cash flow from operating activities - Other for the second quarter 2026 includes $1,288 million of net inflows (first quarter 2026: $1,289 million net inflows; second quarter 2025: $979 million net inflows) due to the timing of payments relating to emission certificates and biofuel programmes in Europe and North America, partly offset by the utilisation of recognised incentives of $470 million.

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