XML 17 R8.htm IDEA: XBRL DOCUMENT
v3.26.1

Segment information | 6 Months Ended
--- | ---
Jun. 30, 2026
Operating Segments [Abstract] |
Segment information | Segment information Segment earnings are presented on an Adjusted Earnings basis (Adjusted Earnings), which is the earnings measure used by the Chief Executive Officer, who serves as the Chief Operating Decision Maker, for the purposes of making decisions about allocating resources and assessing performance. This aligns with Shell's focus on performance, discipline and simplification. The Adjusted Earnings measure is presented on a current cost of supplies (CCS) basis and aims to facilitate a comparative understanding of Shell's financial performance from period to period by removing the effects of oil price changes on inventory carrying amounts and removing the effects of identified items. Identified items are in some cases driven by external factors and may, either individually or collectively, hinder the comparative understanding of Shell's financial results from period to period. ADJUSTED EARNINGS BY SEGMENT
Q2 2026 | $ million
| Integrated Gas | Upstream | Marketing | Chemicals and Products | Renewables and Energy Solutions | Corporate | Total
Income/(loss) attributable to Shell plc shareholders |  |  |  |  |  |  | 10,821 |
Income/(loss) attributable to non-controlling interest |  |  |  |  |  |  | (16) |
Income/(loss) for the period | 2,680 |  | 3,579 |  | 1,747 |  | 3,981 |  | (550) |  | (631) |  | 10,805 |
Current cost of supplies adjustment before taxation |  |  | (346) |  | (397) |  |  |  | (742) |
Tax on current cost of supplies adjustment |  |  | 84 |  | 97 |  |  |  | 181 |
Identified items before taxation | 23 |  | (66) |  | (314) |  | (1,057) |  | 745 |  | 12 |  | (658) |
Tax included in identified items | (12) |  | (28) |  | 157 |  | 253 |  | (115) |  | 3 |  | 258 |
Adjusted Earnings | 2,691 |  | 3,485 |  | 1,329 |  | 2,877 |  | 79 |  | (617) |  | 9,845 |
Adjusted Earnings attributable to Shell plc shareholders |  |  |  |  |  |  | 9,836 |
Adjusted Earnings attributable to non-controlling interest |  |  |  |  |  |  | 9 |
Q1 2026 | $ million
| Integrated Gas | Upstream | Marketing | Chemicals and Products | Renewables and Energy Solutions | Corporate | Total
Income/(loss) attributable to Shell plc shareholders |  |  |  |  |  |  | 5,694 |
Income/(loss) attributable to non-controlling interest |  |  |  |  |  |  | 64 |
Income/(loss) for the period | 1,321 |  | 2,556 |  | 1,895 |  | 395 |  | 527 |  | (937) |  | 5,758 |
Current cost of supplies adjustment before taxation |  |  |  |  | (950) |  | (763) |  |  |  |  |  | (1,713) |
Tax on current cost of supplies adjustment |  |  |  |  | 241 |  | 206 |  |  |  |  |  | 447 |
Identified items before taxation | 598 |  | 156 |  | 99 |  | 2,712 |  | (279) |  | — |  | 3,286 |
Tax included in identified items | (100) |  | (335) |  | 48 |  | (626) |  | 100 |  | 29 |  | (884) |
Adjusted Earnings | 1,819 |  | 2,377 |  | 1,334 |  | 1,925 |  | 348 |  | (908) |  | 6,894 |
Adjusted Earnings attributable to Shell plc shareholders |  |  |  |  |  |  | 6,915 |
Adjusted Earnings attributable to non-controlling interest |  |  |  |  |  |  | (21) |
Q2 2025 | $ million
| Integrated Gas | Upstream | Marketing | Chemicals and Products | Renewables and Energy Solutions | Corporate | Total
Income/(loss) attributable to Shell plc shareholders |  |  |  |  |  |  | 3,601 |
Income/(loss) attributable to non-controlling interest |  |  |  |  |  |  | 43 |
Income/(loss) for the period | 1,838 |  | 2,008 |  | 766 |  | (174) |  | (254) |  | (539) |  | 3,644 |
Current cost of supplies adjustment before taxation |  |  | 104 |  | 333 |  |  |  | 436 |
Tax on current cost of supplies adjustment |  |  | (24) |  | (91) |  |  |  | (115) |
Identified items before taxation | 102 |  | (271) |  | 460 |  | 64 |  | 300 |  | 63 |  | 717 |
Tax included in identified items | (203) |  | (5) |  | (106) |  | (13) |  | (55) |  | 14 |  | (369) |
Adjusted Earnings | 1,737 |  | 1,732 |  | 1,199 |  | 118 |  | (9) |  | (463) |  | 4,314 |
Adjusted Earnings attributable to Shell plc shareholders |  |  |  |  |  |  | 4,264 |
Adjusted Earnings attributable to non-controlling interest |  |  |  |  |  |  | 50 |
Half year 2026 | $ million
| Integrated Gas | Upstream | Marketing | Chemicals and Products | Renewables and Energy Solutions | Corporate | Total
Income/(loss) attributable to Shell plc shareholders |  |  |  |  |  |  | 16,515 |
Income/(loss) attributable to non-controlling interest |  |  |  |  |  |  | 48 |
Income/(loss) for the period | 4,002 |  | 6,134 |  | 3,643 |  | 4,376 |  | (24) |  | (1,568) |  | 16,564 |
Current cost of supplies adjustment before taxation |  |  | (1,296) |  | (1,159) |  |  |  | (2,455) |
Tax on current cost of supplies adjustment |  |  | 325 |  | 303 |  |  |  | 628 |
Identified items before taxation | 620 |  | 90 |  | (215) |  | 1,655 |  | 466 |  | 11 |  | 2,628 |
Tax included in identified items | (113) |  | (362) |  | 206 |  | (373) |  | (16) |  | 32 |  | (626) |
Adjusted Earnings | 4,509 |  | 5,862 |  | 2,663 |  | 4,802 |  | 427 |  | (1,525) |  | 16,739 |
Adjusted Earnings attributable to Shell plc shareholders |  |  |  |  |  |  | 16,751 |
Adjusted Earnings attributable to non-controlling interest |  |  |  |  |  |  | (12) |
Half year 2025 | $ million
| Integrated Gas | Upstream | Marketing | Chemicals and Products | Renewables and Energy Solutions | Corporate | Total
Income/(loss) attributable to Shell plc shareholders |  |  |  |  |  |  | 8,381 |
Income/(loss) attributable to non-controlling interest |  |  |  |  |  |  | 138 |
Income/(loss) for the period | 4,627 |  | 4,088 |  | 1,580 |  | (252) |  | (501) |  | (1,022) |  | 8,519 |
Current cost of supplies adjustment before taxation |  |  | 156 |  | 266 |  |  |  | 422 |
Tax on current cost of supplies adjustment |  |  | (38) |  | (79) |  |  |  | (116) |
Identified items before taxation | (246) |  | (392) |  | 504 |  | 743 |  | 559 |  | 59 |  | 1,227 |
Tax included in identified items | (160) |  | 373 |  | (102) |  | (111) |  | (110) |  | 43 |  | (68) |
Adjusted Earnings | 4,220 |  | 4,068 |  | 2,100 |  | 567 |  | (51) |  | (920) |  | 9,984 |
Adjusted Earnings attributable to Shell plc shareholders |  |  |  |  |  |  | 9,841 |
Adjusted Earnings attributable to non-controlling interest |  |  |  |  |  |  | 144 |
CASH CAPITAL EXPENDITURE BY SEGMENT Cash capital expenditure is a measure used by the Chief Executive Officer for the purposes of making decisions about allocating resources and assessing performance.
Q2 2026 | $ million
| Integrated Gas | Upstream | Marketing | Chemicals and Products | Renewables and Energy Solutions | Corporate | Total
Capital expenditure | 1,097 |  | 1,657 |  | 380 |  | 461 |  | 420 |  | 15 |  | 4,031 |
Investments in joint ventures and associates | 162 |  | (24) |  | — |  | 46 |  | 2 |  | 1 |  | 187 |
Investments in equity securities | 10 |  | — |  | — |  | — |  | 7 |  | 2 |  | 20 |
Cash capital expenditure | 1,269 |  | 1,633 |  | 380 |  | 507 |  | 429 |  | 19 |  | 4,237 |
Q1 2026 | $ million
| Integrated Gas | Upstream | Marketing | Chemicals and Products | Renewables and Energy Solutions | Corporate | Total
Capital expenditure | 780 |  | 2,002 |  | 240 |  | 332 |  | 390 |  | 12 |  | 3,757 |
Investments in joint ventures and associates | 233 |  | 157 |  | 4 |  | 31 |  | — |  | 1 |  | 426 |
Investments in equity securities | — |  | — |  | 4 |  | — |  | 14 |  | 1 |  | 20 |
Cash capital expenditure | 1,014 |  | 2,159 |  | 248 |  | 363 |  | 404 |  | 14 |  | 4,202 |
Q2 2025 | $ million
| Integrated Gas | Upstream | Marketing | Chemicals and Products | Renewables and Energy Solutions | Corporate | Total
Capital expenditure | 988 |  | 2,774 |  | 427 |  | 704 |  | 468 |  | 32 |  | 5,393 |
Investments in joint ventures and associates | 209 |  | 52 |  | 1 |  | 71 |  | 72 |  | 1 |  | 406 |
Investments in equity securities | — |  | — |  | — |  | — |  | 16 |  | 2 |  | 17 |
Cash capital expenditure | 1,196 |  | 2,826 |  | 429 |  | 775 |  | 555 |  | 36 |  | 5,817 |
Half year 2026 | $ million
| Integrated Gas | Upstream | Marketing | Chemicals and Products | Renewables and Energy Solutions | Corporate | Total
Capital expenditure | 1,877 |  | 3,659 |  | 619 |  | 794 |  | 810 |  | 27 |  | 7,787 |
Investments in joint ventures and associates | 395 |  | 133 |  | 4 |  | 76 |  | 2 |  | 3 |  | 613 |
Investments in equity securities | 10 |  | — |  | 5 |  | — |  | 21 |  | 3 |  | 39 |
Cash capital expenditure | 2,283 |  | 3,792 |  | 628 |  | 870 |  | 833 |  | 33 |  | 8,439 |
Half year 2025 | $ million
| Integrated Gas | Upstream | Marketing | Chemicals and Products | Renewables and Energy Solutions | Corporate | Total
Capital expenditure | 1,930 |  | 4,501 |  | 679 |  | 1,155 |  | 826 |  | 49 |  | 9,141 |
Investments in joint ventures and associates | 383 |  | 248 |  | 5 |  | 78 |  | 102 |  | 3 |  | 819 |
Investments in equity securities | — |  | — |  | — |  | — |  | 30 |  | 2 |  | 32 |
Cash capital expenditure | 2,313 |  | 4,749 |  | 684 |  | 1,233 |  | 958 |  | 54 |  | 9,993 |
REVENUE BY SEGMENT Third-party revenue includes revenue from sources other than from contracts with customers, which mainly comprises the impact of fair value accounting of commodity derivatives.
Q2 2026 | $ million
| Integrated Gas | Upstream | Marketing | Chemicals and Products | Renewables and Energy Solutions | Corporate | Total
Revenue: |  |  |  |  |  |  |
Third-party revenue | 11,278 |  | 1,800 |  | 38,015 |  | 34,235 |  | 9,338 |  | (2) |  | 94,664 |
Inter-segment revenue | 2,066 |  | 11,621 |  | 3,624 |  | 13,306 |  | 1,143 |  | — |  | 31,762 |
Q1 2026 | $ million
| Integrated Gas | Upstream | Marketing | Chemicals and Products | Renewables and Energy Solutions | Corporate | Total
Revenue: |  |  |  |  |  |  |
Third-party revenue | 7,748 |  | 1,400 |  | 30,695 |  | 19,221 |  | 10,622 |  | 5 |  | 69,691 |
Inter-segment revenue | 3,410 |  | 9,389 |  | 2,245 |  | 9,660 |  | 1,352 |  | — |  | 26,055 |
Q2 2025 | $ million
| Integrated Gas | Upstream | Marketing | Chemicals and Products | Renewables and Energy Solutions | Corporate | Total
Revenue: |  |  |  |  |  |  |
Third-party revenue | 9,576 |  | 1,193 |  | 28,241 |  | 18,388 |  | 7,996 |  | 12 |  | 65,406 |
Inter-segment revenue | 2,412 |  | 8,502 |  | 2,177 |  | 8,775 |  | 835 |  | — |  | 22,701 |
Half year 2026 | $ million
| Integrated Gas | Upstream | Marketing | Chemicals and Products | Renewables and Energy Solutions | Corporate | Total
Revenue: |  |  |  |  |  |  |
Third-party revenue | 19,026 |  | 3,200 |  | 68,710 |  | 53,456 |  | 19,960 |  | 3 |  | 164,355 |
Inter-segment revenue | 5,476 |  | 21,011 |  | 5,869 |  | 22,966 |  | 2,495 |  | — |  | 57,817 |
Half year 2025 | $ million
| Integrated Gas | Upstream | Marketing | Chemicals and Products | Renewables and Energy Solutions | Corporate | Total
Revenue: |  |  |  |  |  |  |
Third-party revenue | 19,179 |  | 2,703 |  | 55,324 |  | 39,998 |  | 17,413 |  | 23 |  | 134,640 |
Inter-segment revenue | 5,086 |  | 18,356 |  | 4,026 |  | 17,030 |  | 1,999 |  | — |  | 46,498 |
Identified Items The objective of identified items is to exclude material impacts 1 on net income/loss arising from transactions which are typically outside the control of management and are unusual in nature (e.g., infrequent or non-recurring events) or that result in a misalignment between accounting and economic outcomes. Certain transactions that are generally excluded from underlying results within the industry may also be classified as identified items. Identified items comprise divestment gains and losses, impairment losses and reversals, redundancy and restructuring, fair value accounting effects on commodity derivatives and certain gas contracts, the impact of exchange rate movements and inflationary adjustments on certain deferred tax balances, and other items. 1. For the purpose of identification of items in certain categories materiality thresholds are applied.
Q2 2026 | $ million
| Integrated Gas | Upstream | Marketing | Chemicals and Products | Renewables and Energy Solutions | Corporate | Total
Identified items included in Income/(loss) before taxation |  |  |  |  |  |  |
Divestment gains/(losses) | 16 |  | 77 |  | 488 |  | (8) |  | 61 |  | (1) |  | 634 |
Impairment reversals/(impairments) | (13) |  | (2) |  | (13) |  | (32) |  | (606) |  | — |  | (665) |
Redundancy and restructuring | 5 |  | 17 |  | (48) |  | (84) |  | (3) |  | (11) |  | (124) |
Fair value accounting of commodity derivatives and certain gas contracts 1 | (31) |  | — |  | (114) |  | 1,281 |  | (205) |  | — |  | 932 |
Other 2 | — |  | (27) |  | — |  | (101) |  | 9 |  | — |  | (119) |
Total identified items included in Income/(loss) before taxation | (23) |  | 66 |  | 314 |  | 1,057 |  | (745) |  | (12) |  | 658 |
Total identified items included in Taxation (charge)/credit | 12 |  | 28 |  | (157) |  | (253) |  | 115 |  | (3) |  | (258) |
Identified items included in Income/(loss) for the period |  |  |  |  |  |  |
Divestment gains/(losses) | 13 |  | 83 |  | 282 |  | (6) |  | 55 |  | (1) |  | 426 |
Impairment reversals/(impairments) | (13) |  | (1) |  | (11) |  | (21) |  | (536) |  | — |  | (583) |
Redundancy and restructuring | 4 |  | 13 |  | (36) |  | (64) |  | (3) |  | (9) |  | (94) |
Fair value accounting of commodity derivatives and certain gas contracts 1 | (15) |  | — |  | (78) |  | 972 |  | (146) |  | — |  | 733 |
Impact of exchange rate movements and inflationary adjustments on tax balances 3 | 1 |  | 25 |  | — |  | — |  | — |  | (5) |  | 21 |
Other 2 | — |  | (27) |  | — |  | (77) |  | — |  | — |  | (104) |
Impact on Income/(loss) for the period | (10) |  | 93 |  | 157 |  | 804 |  | (629) |  | (15) |  | 400 |
Impact on Income/(loss) attributable to non-controlling interest | — |  | — |  | — |  | — |  | — |  | — |  | — |
Impact on Income/(loss) attributable to Shell plc shareholders | (10) |  | 93 |  | 157 |  | 804 |  | (629) |  | (15) |  | 400 |
1.Fair value accounting of commodity derivatives and certain gas contracts: In the ordinary course of business, Shell enters into contracts to supply or purchase oil and gas products, as well as power and environmental products. Shell also enters into contracts for tolling, pipeline and storage capacity. Derivative contracts are entered into for mitigation of resulting economic exposures (generally price exposure) and these derivative contracts are carried at period-end market price (fair value), with movements in fair value recognised in income for the period. Supply and purchase contracts entered into for operational purposes, as well as contracts for tolling, pipeline and storage capacity, are, by contrast, recognised when the transaction occurs; furthermore, inventory is carried at historical cost or net realisable value, whichever is lower. As a consequence, accounting mismatches occur because: (a) the supply or purchase transaction is recognised in a different period; or (b) the inventory is measured on a different basis. In addition, certain contracts are, due to pricing or delivery conditions, deemed to contain embedded derivatives or written options and are also required to be carried at fair value even though they are entered into for operational purposes. The accounting impacts are reported as identified items. 2.Other identified items represent other credits or charges that based on Shell management's assessment hinder the comparative understanding of Shell's financial results from period to period. 3.Impact of exchange rate movements and inflationary adjustments on tax balances represents the impact on tax balances of exchange rate movements and inflationary adjustments arising on: (a) the conversion to dollars of the local currency tax base of non-monetary assets and liabilities, as well as recognised tax losses (this primarily impacts the Integrated Gas and Upstream segments); and (b) the conversion of dollar-denominated inter-segment loans to local currency, leading to taxable exchange rate gains or losses (this primarily impacts the Corporate segment).
Q1 2026 | $ million
| Integrated Gas | Upstream | Marketing | Chemicals and Products | Renewables and Energy Solutions | Corporate | Total
Identified items included in Income/(loss) before taxation |  |  |  |  |  |  |
Divestment gains/(losses) | 136 |  | (81) |  | (9) |  | (16) |  | 30 |  | — |  | 60 |
Impairment reversals/(impairments) | — |  | (22) |  | (171) |  | (41) |  | (29) |  | — |  | (263) |
Redundancy and restructuring | (13) |  | (33) |  | (42) |  | (38) |  | (6) |  | — |  | (131) |
Fair value accounting of commodity derivatives and certain gas contracts 1 | (721) |  | — |  | 122 |  | (2,616) |  | 283 |  | — |  | (2,932) |
Other 1 | — |  | (20) |  | — |  | — |  | — |  | — |  | (20) |
Total identified items included in Income/(loss) before taxation | (598) |  | (156) |  | (99) |  | (2,712) |  | 279 |  | — |  | (3,286) |
Total identified items included in Taxation (charge)/credit | 100 |  | 335 |  | (48) |  | 626 |  | (100) |  | (29) |  | 884 |
Identified items included in Income/(loss) for the period |  |  |  |  |  |  |
Divestment gains/(losses) | 133 |  | (38) |  | (7) |  | (13) |  | 23 |  | — |  | 99 |
Impairment reversals/(impairments) | — |  | (15) |  | (182) |  | (29) |  | (29) |  | — |  | (255) |
Redundancy and restructuring | (9) |  | (20) |  | (31) |  | (28) |  | (4) |  | (1) |  | (95) |
Fair value accounting of commodity derivatives and certain gas contracts 1 | (634) |  | — |  | 73 |  | (2,016) |  | 189 |  | — |  | (2,388) |
Impact of exchange rate movements and inflationary adjustments on tax balances 1 | 13 |  | 272 |  | — |  | — |  | — |  | (28) |  | 257 |
Other 1 | — |  | (20) |  | — |  | — |  | — |  | — |  | (20) |
Impact on Income/(loss) for the period | (497) |  | 179 |  | (147) |  | (2,086) |  | 179 |  | (29) |  | (2,402) |
Impact on Income/(loss) attributable to non-controlling interest | — |  | — |  | — |  | (2) |  | — |  | — |  | (3) |
Impact on Income/(loss) attributable to Shell plc shareholders | (497) |  | 179 |  | (147) |  | (2,084) |  | 179 |  | (29) |  | (2,399) |
1.For a detailed description, see the corresponding footnotes to the Q2 2026 identified items table above.
Q2 2025 | $ million
| Integrated Gas | Upstream | Marketing | Chemicals and Products | Renewables and Energy Solutions | Corporate | Total
Identified items included in Income/(loss) before taxation |  |  |  |  |  |  |
Divestment gains/(losses) | 63 |  | 344 |  | (56) |  | (9) |  | 119 |  | (4) |  | 457 |
Impairment reversals/(impairments) | (672) |  | (3) |  | (370) |  | (78) |  | (138) |  | — |  | (1,261) |
Redundancy and restructuring | (7) |  | (6) |  | (57) |  | (37) |  | (1) |  | (12) |  | (119) |
Fair value accounting of commodity derivatives and certain gas contracts 1 | 514 |  | 1 |  | 23 |  | 61 |  | (280) |  | — |  | 319 |
Other 1 | — |  | (65) |  | — |  | (1) |  | — |  | (47) |  | (113) |
Total identified items included in Income/(loss) before taxation | (102) |  | 271 |  | (460) |  | (64) |  | (300) |  | (63) |  | (717) |
Total identified items included in Taxation (charge)/credit | 203 |  | 5 |  | 106 |  | 13 |  | 55 |  | (14) |  | 369 |
Identified items included in Income/(loss) for the period |  |  |  |  |  |  |
Divestment gains/(losses) | 54 |  | 350 |  | (44) |  | (7) |  | 108 |  | (3) |  | 458 |
Impairment reversals/(impairments) | (423) |  | (2) |  | (285) |  | (62) |  | (136) |  | — |  | (908) |
Redundancy and restructuring | (4) |  | (2) |  | (44) |  | (29) |  | — |  | (8) |  | (88) |
Fair value accounting of commodity derivatives and certain gas contracts 1 | 454 |  | — |  | 19 |  | 49 |  | (217) |  | — |  | 307 |
Impact of exchange rate movements and inflationary adjustments on tax balances 1 | 20 |  | 22 |  | — |  | — |  | — |  | (19) |  | 23 |
Other 1 | — |  | (92) |  | — |  | (1) |  | — |  | (47) |  | (139) |
Impact on Income/(loss) for the period | 101 |  | 276 |  | (354) |  | (51) |  | (245) |  | (77) |  | (348) |
Impact on Income/(loss) attributable to non-controlling interest | — |  | — |  | — |  | — |  | — |  | — |  | — |
Impact on Income/(loss) attributable to Shell plc shareholders | 101 |  | 276 |  | (354) |  | (51) |  | (245) |  | (77) |  | (348) |
1.For a detailed description, see the corresponding footnotes to the Q2 2026 identified items table above.
Half year 2026 | $ million
| Integrated Gas | Upstream | Marketing | Chemicals and Products | Renewables and Energy Solutions | Corporate | Total
Identified items included in Income/(loss) before taxation |  |  |  |  |  |  |
Divestment gains/(losses) | 151 |  | (4) |  | 480 |  | (24) |  | 91 |  | (1) |  | 694 |
Impairment reversals/(impairments) | (13) |  | (24) |  | (183) |  | (73) |  | (635) |  | — |  | (929) |
Redundancy and restructuring | (7) |  | (16) |  | (90) |  | (122) |  | (9) |  | (10) |  | (255) |
Fair value accounting of commodity derivatives and certain gas contracts 1 | (751) |  | — |  | 9 |  | (1,335) |  | 78 |  | — |  | (2,000) |
Other 1 | — |  | (47) |  | — |  | (101) |  | 9 |  | — |  | (139) |
Total identified items included in Income/(loss) before taxation | (620) |  | (90) |  | 215 |  | (1,655) |  | (466) |  | (11) |  | (2,628) |
Total identified items included in Taxation (charge)/credit | 113 |  | 362 |  | (206) |  | 373 |  | 16 |  | (32) |  | 626 |
Identified items included in Income/(loss) for the period |  |  |  |  |  |  |
Divestment gains/(losses) | 145 |  | 45 |  | 275 |  | (19) |  | 79 |  | (1) |  | 525 |
Impairment reversals/(impairments) | (13) |  | (16) |  | (194) |  | (50) |  | (565) |  | — |  | (838) |
Redundancy and restructuring | (5) |  | (7) |  | (67) |  | (92) |  | (7) |  | (10) |  | (188) |
Fair value accounting of commodity derivatives and certain gas contracts 1 | (648) |  | — |  | (5) |  | (1,044) |  | 43 |  | — |  | (1,655) |
Impact of exchange rate movements and inflationary adjustments on tax balances 1 | 13 |  | 297 |  | — |  | — |  | — |  | (33) |  | 277 |
Other 1 | — |  | (47) |  | — |  | (77) |  | — |  | — |  | (124) |
Impact on Income/(loss) for the period | (508) |  | 272 |  | 9 |  | (1,282) |  | (450) |  | (44) |  | (2,002) |
Impact on Income/(loss) attributable to non-controlling interest | — |  | — |  | (1) |  | (2) |  | — |  | — |  | (3) |
Impact on Income/(loss) attributable to Shell plc shareholders | (508) |  | 272 |  | 10 |  | (1,280) |  | (450) |  | (44) |  | (1,999) |
1.For a detailed description, see the corresponding footnotes to the Q2 2026 identified items table above.
Half year 2025 | $ million
| Integrated Gas | Upstream | Marketing | Chemicals and Products | Renewables and Energy Solutions | Corporate | Total
Identified items included in Income/(loss) before taxation |  |  |  |  |  |  |
Divestment gains/(losses) | 62 |  | 498 |  | (113) |  | (24) |  | (68) |  | (4) |  | 351 |
Impairment reversals/(impairments) | (672) |  | (24) |  | (360) |  | (371) |  | (176) |  | — |  | (1,602) |
Redundancy and restructuring | (8) |  | (21) |  | (66) |  | (50) |  | (10) |  | (9) |  | (164) |
Fair value accounting of commodity derivatives and certain gas contracts 1 | 934 |  | — |  | 35 |  | (196) |  | (260) |  | — |  | 512 |
Other 1 | (70) |  | (61) |  | — |  | (102) |  | (46) |  | (47) |  | (325) |
Total identified items included in Income/(loss) before taxation | 246 |  | 392 |  | (504) |  | (743) |  | (559) |  | (59) |  | (1,227) |
Total identified items included in Taxation (charge)/credit | 160 |  | (373) |  | 102 |  | 111 |  | 110 |  | (43) |  | 68 |
Identified items included in Income/(loss) for the period |  |  |  |  |  |  |
Divestment gains/(losses) | 53 |  | 358 |  | (105) |  | (19) |  | (35) |  | (3) |  | 250 |
Impairment reversals/(impairments) | (423) |  | (17) |  | (278) |  | (339) |  | (167) |  | — |  | (1,225) |
Redundancy and restructuring | (5) |  | (7) |  | (45) |  | (42) |  | (7) |  | (6) |  | (112) |
Fair value accounting of commodity derivatives and certain gas contracts 1 | 817 |  | — |  | 26 |  | (153) |  | (196) |  | — |  | 494 |
Impact of exchange rate movements and inflationary adjustments on tax balances 1 | 24 |  | 154 |  | — |  | — |  | — |  | (47) |  | 131 |
Other 1 | (59) |  | (469) |  | — |  | (78) |  | (45) |  | (47) |  | (697) |
Impact on Income/(loss) for the period | 407 |  | 19 |  | (402) |  | (631) |  | (450) |  | (102) |  | (1,160) |
Impact on Income/(loss) attributable to non-controlling interest | — |  | — |  | — |  | — |  | — |  | — |  | — |
Impact on Income/(loss) attributable to Shell plc shareholders | 407 |  | 19 |  | (402) |  | (631) |  | (450) |  | (102) |  | (1,160) |
1.For a detailed description, see the corresponding footnotes to the Q2 2026 identified items table above. The identified items categories above may include after-tax impacts of identified items of joint ventures and associates which are fully reported within "Share of profit/(loss) of joint ventures and associates" in the Consolidated Statement of Income, and fully reported as identified items included in Income/(loss) before taxation in the tables above. Identified items related to subsidiaries are consolidated and reported across appropriate lines of the Consolidated Statement of Income. Only pre-tax identified items reported by subsidiaries are taken into account in the calculation of underlying operating expenses (Reference F). Reconciliation of Operating expenses and Total Debt RECONCILIATION OF OPERATING EXPENSES
Quarters | $ million | Half year
Q2 2026 | Q1 2026 | Q2 2025 |  | 2026 | 2025
5,476 |  | 5,745 |  | 4,909 |  | Production and manufacturing expenses | 11,221 |  | 10,459 |
2,911 |  | 2,803 |  | 3,077 |  | Selling, distribution and administrative expenses | 5,714 |  | 5,917 |
277 |  | 167 |  | 278 |  | Research and development | 444 |  | 464 |
8,664 |  | 8,716 |  | 8,265 |  | Operating expenses | 17,380 |  | 16,840 |
RECONCILIATION OF TOTAL DEBT
June 30, 2026 | March 31, 2026 | June 30, 2025 | $ million | June 30, 2026 | June 30, 2025
8,542 |  | 10,060 |  | 10,457 |  | Current debt | 8,542 |  | 10,457 |
64,534 |  | 65,585 |  | 65,218 |  | Non-current debt | 64,534 |  | 65,218 |
73,076 |  | 75,645 |  | 75,675 |  | Total debt | 73,076 |  | 75,675 |

X
- Definition The entire disclosure for operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 8 -IssueDate 2025-01-01 -Section Disclosure -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2025-en-r&doctype=Standard&dita_xref=IFRS08_g20-24_TI -URIDate 2025-03-27 + Details
Name: | ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | dtr-2022:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Operating Segments [Abstract] + References No definition available. + Details
Name: | shel_OperatingSegmentsAbstract
Namespace Prefix: | shel_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration