Financial statements information

Consolidated statement of income

$ million

 

2017

2016

2015

2014

2013

Revenue

305,179

233,591

264,960

421,105

451,235

Share of profit of joint ventures and associates

4,225

3,545

3,527

6,116

7,275

Interest and other income

2,466

2,897

3,669

4,123

1,089

Total revenue and other income

311,870

240,033

272,156

431,344

459,599

Purchases

223,447

162,574

194,644

327,278

353,199

Production and manufacturing expenses

26,652

28,434

28,095

30,038

28,386

Selling, distribution and administrative expenses

10,509

12,101

11,956

13,965

14,675

Research and development

922

1,014

1,093

1,222

1,318

Exploration

1,945

2,108

5,719

4,224

5,278

Depreciation, depletion and amortisation

26,223

24,993

26,714

24,499

21,509

Interest expense

4,042

3,203

1,888

1,804

1,642

Total expenditure

293,740

234,427

270,109

403,030

426,007

Income before taxation

18,130

5,606

2,047

28,314

33,592

Taxation charge/(credit)

4,695

829

(153)

13,584

17,066

Income for the period

13,435

4,777

2,200

14,730

16,526

Income/(loss) attributable to non-controlling interest

458

202

261

(144)

155

Income attributable to Royal Dutch Shell plc shareholders

12,977

4,575

1,939

14,874

16,371

Reconciliation of CCS earnings to income for the period

$ million

 

2017

2016

2015

2014

2013

Earnings on a current cost of supplies basis (CCS earnings)

12,471

3,692

4,155

19,096

16,879

Attributable to non-controlling interest

(390)

(159)

(313)

(55)

(134)

Earnings on a current cost of supplies basis attributable to Royal Dutch Shell plc shareholders

12,081

3,533

3,842

19,041

16,745

Current cost of supplies adjustment

964

1,085

(1,955)

(4,366)

(353)

Non-controlling interest

(68)

(43)

52

199

(21)

Income attributable to Royal Dutch Shell plc shareholders

12,977

4,575

1,939

14,874

16,371

Non-controlling interest

458

202

261

(144)

155

Income for the period

13,435

4,777

2,200

14,730

16,526

Segment earnings are presented on a current cost of supplies basis (CCS earnings), which is the earnings measure used by the Chief Executive Officer for the purposes of making decisions about allocating resources and assessing performance. On this basis, the purchase price of volumes sold during the period is based on the current cost of supplies during the same period after making allowance for the tax effect. earnings therefore exclude the effect of changes in the oil price on inventory carrying amounts. Sales between segments are based on prices generally equivalent to commercially available prices. is a non- measure. 

Earnings per share [A]

$

 

2017

2016

2015

2014

2013

[A]

Ordinary shares of €0.07 each.

Basic earnings per share

1.58

0.58

0.31

2.36

2.60

Diluted earnings per share

1.56

0.58

0.30

2.36

2.60

Shares

Million

 

2017

2016

2015

2014

2013

Basic weighted average number of A and B shares

8,223.4

7,833.7

6,320.3

6,311.5

6,291.1

Diluted weighted average number of A and B shares

8,299.0

7,891.7

6,393.8

6,311.6

6,293.4

Shares outstanding at the end of the period

8,312.8

8,145.3

6,397.5

6,295.0

6,295.4

Taxation charge/(credit)

$ million unless specified

 

2017

2016

2015

2014

2013

Current tax

6,591

2,731

7,058

13,757

18,582

Deferred tax

(1,896)

(1,902)

(7,211)

(173)

(1,516)

Total taxation charge/(credit)

4,695

829

(153)

13,584

17,066

As a % of income before taxation

26

15

(7)

48

51

Consolidated balance sheet (at December 31)

$ million

 

2017

2016

2015

2014

2013

Assets

 

 

 

 

 

Non-current assets

 

 

 

 

 

Intangible assets

24,180

23,967

6,283

7,076

4,394

Property, plant and equipment

226,380

236,098

182,838

192,472

191,897

Joint ventures and associates

27,927

33,255

30,150

31,558

34,613

Investments in securities

7,222

5,952

3,416

4,115

4,715

Deferred tax

13,791

14,425

11,033

8,131

5,785

Retirement benefits

2,799

1,456

4,362

1,682

3,574

Trade and other receivables

9,394

9,553

8,717

8,304

9,191

 

311,693

324,706

246,799

253,338

254,169

Current assets

 

 

 

 

 

Inventories

25,223

21,775

15,822

19,701

30,009

Trade and other receivables

49,869

45,664

45,784

58,470

63,638

Cash and cash equivalents

20,312

19,130

31,752

21,607

9,696

 

95,404

86,569

93,358

99,778

103,343

Total assets

407,097

411,275

340,157

353,116

357,512

Liabilities

 

 

 

 

 

Non-current liabilities

 

 

 

 

 

Debt

73,870

82,992

52,849

38,332

36,218

Trade and other payables

4,428

6,925

4,528

3,582

4,065

Deferred tax

13,007

15,274

8,976

12,052

11,943

Retirement benefits

13,247

14,130

12,587

16,318

11,182

Decommissioning and other provisions

24,966

29,618

26,148

23,834

19,698

 

129,518

148,939

105,088

94,118

83,106

Current liabilities

 

 

 

 

 

Debt

11,795

9,484

5,530

7,208

8,344

Trade and other payables

56,663

53,417

52,770

64,864

70,112

Taxes payable

7,250

6,685

8,233

9,797

11,173

Retirement benefits

594

455

350

377

382

Decommissioning and other provisions

3,465

3,784

4,065

3,966

3,247

 

79,767

73,825

70,948

86,212

93,258

Total liabilities

209,285

222,764

176,036

180,330

176,364

Equity

 

 

 

 

 

Share capital

696

683

546

540

542

Shares held in trust

(917)

(901)

(584)

(1,190)

(1,932)

Other reserves

16,932

11,298

(17,186)

(14,365)

(2,037)

Retained earnings

177,645

175,566

180,100

186,981

183,474

Equity attributable to Royal Dutch Shell plc shareholders

194,356

186,646

162,876

171,966

180,047

Non-controlling interest

3,456

1,865

1,245

820

1,101

Total equity

197,812

188,511

164,121

172,786

181,148

Total liabilities and equity

407,097

411,275

340,157

353,116

357,512

Consolidated statement of cash flows

$ million

 

2017

2016

2015

2014

2013

Income for the period

13,435

4,777

2,200

14,730

16,526

Adjustment for:

 

 

 

 

 

Current tax

6,591

2,731

7,058

13,757

18,582

Interest expense (net)

3,365

2,752

1,529

1,598

1,448

Depreciation, depletion and amortisation

26,223

24,993

26,714

24,499

21,509

Net gains on sale of non-current assets and businesses

(1,640)

(2,141)

(3,460)

(3,212)

(382)

(Increase)/decrease in working capital

(3,158)

(6,289)

5,521

6,405

2,988

(Increase)/decrease in inventories

(2,079)

(5,658)

2,827

7,958

608

(Increase)/decrease in current receivables

(1,686)

2,038

9,852

(1,541)

5,648

Decrease/(increase) in current payables

607

(2,669)

(7,158)

(12)

(3,268)

Share of profit of joint ventures and associates

(4,225)

(3,545)

(3,527)

(6,116)

(7,275)

Dividends received from joint ventures and associates

4,998

3,820

4,627

6,902

7,117

Deferred tax, retirement benefits, decommissioning and other provisions

(3,918)

(823)

(5,827)

(1,720)

(2,701)

Other

286

(1,226)

2,648

2,500

2,937

Tax paid

(6,307)

(4,434)

(7,673)

(14,299)

(20,309)

Cash flow from operating activities

35,650

20,615

29,810

45,044

40,440

Capital expenditure

(20,845)

(22,116)

(26,131)

(31,676)

(39,975)

Acquisition of BG Group plc, net of cash and cash equivalents acquired

(11,421)

Investments in joint ventures and associates

(595)

(1,330)

(896)

(1,426)

(1,538)

Proceeds from sale of property, plant and equipment and businesses

8,808

2,072

4,720

9,873

1,212

Proceeds from sale of joint ventures and associates

2,177

1,565

276

4,163

538

Interest received

724

470

288

174

175

Other

1,702

(203)

(664)

(765)

(558)

Cash flow from investing activities

(8,029)

(30,963)

(22,407)

(19,657)

(40,146)

Net (decrease)/increase in debt with maturity period within three months

(869)

(360)

(586)

(3,332)

3,126

Other debt:

 

 

 

 

 

New borrowings

760

18,144

21,500

7,778

9,146

Repayments

(11,720)

(6,710)

(6,023)

(4,089)

(6,877)

Interest paid

(3,550)

(2,938)

(1,742)

(1,480)

(1,307)

Change in non-controlling interest

293

1,110

598

989

(51)

Cash dividends paid to:

 

 

 

 

 

Royal Dutch Shell plc shareholders

(10,877)

(9,677)

(9,370)

(9,444)

(7,198)

Non-controlling interest

(406)

(180)

(117)

(116)

(252)

Repurchases of shares

(409)

(3,328)

(5,000)

Shares held in trust: net (purchases)/sales and dividends received

(717)

(160)

(39)

232

(565)

Cash flow from financing activities

(27,086)

(771)

3,812

(12,790)

(8,978)

Currency translation differences relating to cash and cash equivalents

647

(1,503)

(1,070)

(686)

(170)

Increase/(decrease) in cash and cash equivalents

1,182

(12,622)

10,145

11,911

(8,854)

Cash and cash equivalents at January 1

19,130

31,752

21,607

9,696

18,550

Cash and cash equivalents at December 31

20,312

19,130

31,752

21,607

9,696

Free cash flow

$ million

 

2017

2016

2015

2014

2013

Cash flow from operating activities

35,650

20,615

29,810

45,044

40,440

Cash flow from investing activities

(8,029)

(30,963)

(22,407)

(19,657)

(40,146)

Free cash flow

27,621

(10,348)

7,403

25,387

294

Free cash flow is a non-GAAP measure used to evaluate cash available for financing activities, including dividend payments, after investment in maintaining and growing our business. It is defined as the sum of “Cash flow from operating activities” and “Cash flow from investing activities”.

CCS
carbon capture and storage
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CCS earnings
earnings on a current cost of supplies basis
View complete glossary
GAAP
generally accepted accounting principles
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