Business segment information (Tables)

12 Months Ended

Dec. 31, 2025

Business segment information

Schedule of information by business segment


		Exploration						Refining		Marketing
For the year ended December 31, 2025		&		Integrated		Integrated		&		&
(M$)		Production		LNG		Power		Chemicals		Services		Corporate		Intercompany		Total
External sales		5,590		10,096		19,587		87,207		78,708		8		–		201,196
Intersegment sales		35,234		8,945		2,696		27,817		734		132		(75,558)		–
Excise taxes		–		–		–		(770)		(18,082)		–		–		(18,852)
Revenues from sales		40,824		19,041		22,283		114,254		61,360		140		(75,558)		182,344
Operating expenses		(17,335)		(15,085)		(20,859)		(110,737)		(58,697)		(918)		75,558		(148,073)
Depreciation, depletion and impairment of tangible assets and mineral interests		(8,419)		(1,608)		(622)		(1,606)		(932)		(125)		–		(13,312)
Net income (loss) from equity affiliates and other items		971		2,104		422		49		93		(82)		–		3,557
Tax on net operating income		(7,677)		(720)		(133)		(352)		(608)		245		–		(9,245)
Adjustments^(a)		(35)		(377)		(1,124)		(770)		(157)		(93)		–		(2,556)
Adjusted net operating income		8,399		4,109		2,215		2,378		1,373		(647)		–		17,827
Adjustments^(a)																(2,556)
Net cost of net debt																(1,914)
Non-controlling interests																(230)
NET INCOME - TotalEnergies SHARE																13,127
^(a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value.

The management of balance sheet positions (including margin calls) related to centralized markets access for LNG, gas and power activities has been fully included in the Integrated LNG segment.

Effects of changes in the fair value of gas and LNG positions are allocated to the net operating income of Integrated LNG segment.

Effects of changes in the fair value of power positions are allocated to the net operating income of Integrated Power segment.

 

Exploration

 

 

 

Refining

 

Marketing

 

 

 

For the year ended December 31, 2025

&

Integrated

Integrated

&

&

(M$)

Production

LNG

Power

Chemicals

Services

Corporate

Intercompany

Total

Total expenditures

10,523

3,520

5,367

1,537

937

316

–

22,200

Total divestments

1,723

512

1,366

100

328

40

–

4,069

Cash flow from operating activities

14,949

5,173

2,374

3,459

2,835

(1,447)

–

27,343



		Exploration						Refining		Marketing
For the year ended December 31, 2024		&		Integrated		Integrated		&		&
(M$)		Production		LNG		Power		Chemicals		Services		Corporate		Intercompany		Total
External sales		5,655		9,885		22,127		93,515		83,341		27		–		214,550
Intersegment sales		38,546		10,591		2,348		31,480		819		268		(84,052)		–
Excise taxes		–		–		–		(784)		(18,156)		–		–		(18,940)
Revenues from sales		44,201		20,476		24,475		124,211		66,004		295		(84,052)		195,610
Operating expenses		(19,124)		(15,530)		(22,936)		(120,424)		(63,551)		(1,010)		84,052		(158,523)
Depreciation, depletion and impairment of tangible assets and mineral interests		(8,001)		(1,251)		(344)		(1,442)		(870)		(117)		–		(12,025)
Net income (loss) from equity affiliates and other items		325		2,051		(837)		(114)		1,457		92		–		2,974
Tax on net operating income		(8,466)		(1,073)		(255)		(414)		(526)		89		–		(10,645)
Adjustments^(a)		(1,069)		(196)		(2,070)		(343)		1,154		(59)		–		(2,583)
Adjusted net operating income		10,004		4,869		2,173		2,160		1,360		(592)		–		19,974
Adjustments^(a)																(2,583)
Net cost of net debt																(1,360)
Non-controlling interests																(273)
NET INCOME - TotalEnergies SHARE																15,758
^(a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value.

The management of balance sheet positions (including margin calls) related to centralized markets access for LNG, gas and power activities has been fully included in the Integrated LNG segment.

Effects of changes in the fair value of gas and LNG positions are allocated to the net operating income of Integrated LNG segment.

Effects of changes in the fair value of power positions are allocated to the net operating income of Integrated Power segment.

 

Exploration

 

 

 

Refining

 

Marketing

 

 

 

For the year ended December 31, 2024

&

Integrated

Integrated

&

&

(M$)

Production

LNG

Power

Chemicals

Services

Corporate

Intercompany

Total

Total expenditures

9,225

3,912

5,328

1,896

1,190

199

–

21,750

Total divestments

840

425

1,431

366

1,328

28

–

4,418

Cash flow from operating activities

17,388

5,185

2,972

3,808

2,901

(1,400)

–

30,854


		Exploration						Refining		Marketing
For the year ended December 31, 2023		&		Integrated		Integrated		&		&
(M$)		Production		LNG		Power		Chemicals		Services		Corporate		Intercompany		Total
External sales		6,561		12,086		27,337		101,203		89,909		32		–		237,128
Intersegment sales		42,595		14,789		4,126		36,581		631		206		(98,928)		–
Excise taxes		–		–		–		(841)		(17,342)		–		–		(18,183)
Revenues from sales		49,156		26,875		31,463		136,943		73,198		238		(98,928)		218,945
Operating expenses		(20,355)		(21,569)		(28,763)		(130,899)		(70,497)		(878)		98,928		(174,033)
Depreciation, depletion and impairment of tangible assets and mineral interests		(8,493)		(1,288)		(281)		(1,685)		(905)		(110)		–		(12,762)
Net income (loss) from equity affiliates and other items		(307)		2,194		(345)		(42)		2,208		(28)		–		3,680
Tax on net operating income		(10,095)		(810)		(394)		(938)		(1,246)		271		–		(13,212)
Adjustments^(a)		(1,036)		(798)		(173)		(1,275)		1,300		(84)		–		(2,066)
Adjusted net operating income		10,942		6,200		1,853		4,654		1,458		(423)		–		24,684
Adjustments^(a)																(2,066)
Net cost of net debt																(1,108)
Non-controlling interests																(126)
NET INCOME - TotalEnergies SHARE																21,384
^(a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value.

The management of balance sheet positions (including margin calls) related to centralized markets access for LNG, gas and power activities has been fully included in the Integrated LNG segment.

Effects of changes in the fair value of gas and LNG positions are allocated to the net operating income of Integrated LNG segment.

Effects of changes in the fair value of power positions are allocated to the net operating income of Integrated Power segment.

 

Exploration

 

 

 

Refining

 

Marketing

 

 

 

For the year ended December 31, 2023

&

Integrated

Integrated

&

&

(M$)

Production

LNG

Power

Chemicals

Services

Corporate

Intercompany

Total

Total expenditures

12,378

3,410

5,497

2,149

1,273

153

–

24,860

Total divestments

5,118

290

661

196

2,132

9

–

8,406

Cash flow from operating activities

18,531

8,442

3,573

7,957

1,957

219

–

40,679

Schedule of detail of the adjustment items

Adjustments to net operating income

For the year ended December 31, 2025

Exploration &

Integrated

Integrated

Refining &

Marketing &

(M$)

 

Production

 

LNG

 

Power

 

Chemicals

 

Services

Corporate

 

Total

Inventory valuation effect

–

–

–

(528)

(89)

–

(617)

Effect of changes in fair value

–

(246)

(419)

–

–

–

(665)

Restructuring charges

(49)

–

–

(12)

–

–

(61)

Asset impairment and provisions charges

(200)

(50)

(662)

(200)

(50)

–

(1,162)

Gains (losses) on disposals of assets

563

(59)

(12)

–

(5)

–

487

Other items

(349)

(22)

(31)

(30)

(13)

(93)

(538)

TOTAL

(35)

(377)

(1,124)

(770)

(157)

(93)

(2,556)

Adjustments to net operating income

For the year ended December 31, 2024

Exploration &

Integrated

Integrated

Refining &

Marketing &

(M$)

 

Production

 

LNG

 

Power

 

Chemicals

 

Services

Corporate

 

Total

Inventory valuation effect

–

–

–

(276)

(110)

–

(386)

Effect of changes in fair value

–

(84)

(864)

–

–

–

(948)

Restructuring charges

–

–

(11)

(6)

(10)

–

(27)

Asset impairment and provisions charges^(a)

(982)

(10)

(965)

(4)

(17)

–

(1,978)

Gains (losses) on disposals of assets^(b)

54

–

29

(11)

1,300

–

1,372

Other items^(c)

(141)

(102)

(259)

(46)

(9)

(59)

(616)

TOTAL

(1,069)

(196)

(2,070)

(343)

1,154

(59)

(2,583)

(a)	Refer to Note 3.C “Asset impairment”

(b)	Refer to Note 6.1 “Other income and other expense”

(c)	"Other items" include $(0.6) billion in net operating income mainly consisting of the impacts of the contribution on inframarginal annuity in France and deferred tax adjustments related to rates changes.

Adjustments to net operating income

For the year ended December 31, 2023

Exploration &

Integrated

Integrated

Refining &

Marketing &

(M$)

 

Production

 

LNG

 

Power

 

Chemicals

 

Services

Corporate

 

Total

Inventory valuation effect

–

–

–

(586)

(108)

–

(694)

Effect of changes in fair value

–

(547)

559

–

–

–

12

Restructuring charges

–

–

(5)

(51)

–

–

(56)

Asset impairment and provisions charges^(a)

(926)

(124)

(773)

(359)

(115)

–

(2,297)

Gains (losses) on disposals of assets^(b)

431

–

–

–

1,616

–

2,047

Other items^(c)

(541)

(127)

46

(279)

(93)

(84)

(1,078)

TOTAL

(1,036)

(798)

(173)

(1,275)

1,300

(84)

(2,066)

(a)	Refer to Note 3.C “Asset impairment”

(b)	Refer to Note 6.1 “Other income and other expense”

(c)	"Other items" include $0.4 billion of revaluation of the previously held share of Total Eren and $(1.5) billion mainly consisting of the impacts of the European solidarity contribution, the contribution on inframarginal annuity in France and the devaluation of the Argentine peso.