v3.25.4
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - USD ($)
$ in Millions
Total
Total
Number of shares
Shares held in trust
Other reserves
Retained earnings
Non- controlling interest [C]
Beginning balance at Dec. 31, 2022 $ 192,597 $ 190,472 $ 584 $ (726) $ 21,132 $ 169,482 $ 2,125
Comprehensive income for the period 19,588 19,276     (83) 19,359 312
Transfer from other comprehensive income 0       (112) 112  
Dividends [1] (9,153) (8,389)       (8,389) (764)
Repurchases of shares (14,571) (14,571) (40)   40 (14,571)  
Share-based compensation (188) (188)   (271) 168 (85)  
Other changes 89 7       7 82
Ending balance at Dec. 31, 2023 188,362 186,607 544 (997) 21,145 165,915 1,755
Comprehensive income for the period 14,785 14,379     (1,715) 16,094 406
Transfer from other comprehensive income 0       193 (193)  
Dividends [1] (8,976) (8,668)       (8,668) (308)
Repurchases of shares (14,057) (14,057) (34)   34 (14,057)  
Share-based compensation (51) (51)   194 109 (354)  
Other changes 105 97       97 8
Ending balance at Dec. 31, 2024 180,168 178,307 510 (803) 19,766 158,834 1,861 [2]
Comprehensive income for the period 19,779 19,304     1,467 17,837 475 [2]
Transfer from other comprehensive income 0       26 (26)  
Dividends [1] (8,619) (8,472)       (8,472) (147) [2]
Repurchases of shares [3] (14,070) (14,070) (33)   33 (14,070)  
Share-based compensation (498) (498)   (44) (58) (396)  
Other changes (1,441) (179)       (179) (1,262) [2]
Ending balance at Dec. 31, 2025 $ 175,319 $ 174,392 $ 477 $ (847) $ 21,234 $ 153,528 $ 927 [2]
[1] The amount charged to retained earnings is based on prevailing exchange rates on the payment date.
[2] The decrease in non-controlling interest since December 31, 2024, is mainly attributable to the completion of the swap of Shell's remaining 10% mining interest in exchange for an additional 10% interest in the Scotford upgrader and Quest Carbon Capture (CCS) facility, in 2025.
[3] Includes shares committed to repurchase under irrevocable contracts and repurchases subject to settlement at the end of the year. (See Note 27).