Main items related to operating activities (Tables)

12 Months Ended

Dec. 31, 2025

Main items related to operating activities

Schedule of operating expenses


For the year ended December 31,
(M$)		2025		2024		2023
Purchases, net of inventory variation ^(a) ^(b)		(116,740)		(127,664)		(143,041)
Exploration costs		(419)		(999)		(573)
Other operating expenses ^(c)		(30,914)		(29,860)		(30,419)
of which non-current operating liabilities (allowances) reversals		660		870		821
of which current operating liabilities (allowances) reversals		15		(60)		(92)
OPERATING EXPENSES		(148,073)		(158,523)		(174,033)

(a)	Includes taxes paid on oil and gas production in the Exploration & Production segment, amongst others royalties.

(b)	TotalEnergies values under / over lifting at market value.

(c)	Principally composed of production and administrative costs (refer in particular to payroll costs as detailed in Note 10 to the Consolidated Financial Statements “Payroll, staff and employee benefits obligations”).

Schedule of amortization, depreciation and impairment of tangible assets and mineral interests


For the year ended December 31,
(M$)		2025		2024		2023
Depreciation and impairment of tangible assets		(12,315)		(10,911)		(11,902)
Amortization and impairment of mineral assets		(997)		(1,114)		(860)
TOTAL		(13,312)		(12,025)		(12,762)

Schedule of inventories and changes in the valuation allowance on inventories


As of December 31, 2025				Valuation
(M$)		Gross value		allowance		Net value
Crude oil and natural gas		2,367		(14)		2,353
Refined products		4,344		(66)		4,278
Chemicals products		1,526		(112)		1,414
Trading inventories		5,950		–		5,950
Other inventories		3,524		(856)		2,668
TOTAL		17,711		(1,048)		16,663


As of December 31, 2024				Valuation
(M$)		Gross value		allowance		Net value
Crude oil and natural gas		3,111		(4)		3,107
Refined products		4,714		(48)		4,666
Chemicals products		1,558		(108)		1,450
Trading inventories		7,280		–		7,280
Other inventories		3,400		(1,035)		2,365
TOTAL		20,063		(1,195)		18,868


As of December 31, 2023				Valuation
(M$)		Gross value		allowance		Net value
Crude oil and natural gas		3,334		(152)		3,182
Refined products		5,335		(141)		5,194
Chemicals products		1,668		(97)		1,571
Trading inventories		6,158		–		6,158
Other inventories		4,248		(1,036)		3,212
TOTAL		20,743		(1,426)		19,317

Changes in the valuation allowance on inventories are as follows:


						Currency
		Valuation				translation		Valuation
For the year ended December 31,		allowance as of				adjustment and		allowance as of
(M$)		January 1,		Increase (net)		other variations		December 31,
2025		(1,195)		21		126		(1,048)
2024		(1,426)		246		(15)		(1,195)
2023		(1,312)		(92)		(22)		(1,426)

Schedule of accounts receivable and other current assets and changes in the valuation allowances


As of December 31, 2025				Valuation
(M$)		Gross value		allowance		Net value
Accounts receivable		19,458		(899)		18,559
Recoverable taxes		4,144		(4)		4,140
Other operating receivables		14,224		(292)		13,932
Prepaid expenses		2,260		–		2,260
Other debtors		105		–		105
Other current assets		20,733		(296)		20,437


As of December 31, 2024				Valuation
(M$)		Gross value		allowance		Net value
Accounts receivable		20,183		(902)		19,281
Recoverable taxes		4,295		(6)		4,289
Other operating receivables		17,094		(248)		16,846
Prepaid expenses		2,481		–		2,481
Other debtors		71		–		71
Other current assets		23,941		(254)		23,687


As of December 31, 2023				Valuation
(M$)		Gross value		allowance		Net value
Accounts receivable		24,334		(892)		23,442
Recoverable taxes		4,085		(7)		4,078
Other operating receivables		15,218		(266)		14,952
Prepaid expenses		1,731		–		1,731
Other debtors		60		–		60
Other current assets		21,094		(273)		20,821

Changes in the valuation allowance on “Accounts receivable” and “Other current assets” are as follows:


						Currency
		Valuation				translation		Valuation
		allowance as of				adjustments and		allowance as of
For the year ended December 31, (M$)		January 1,		Increase (net)		other variations		December 31,
Accounts receivable
2025		(902)		31		(28)		(899)
2024		(892)		(53)		43		(902)
2023		(826)		(82)		16		(892)
Other current assets
2025		(254)		(22)		(20)		(296)
2024		(273)		1		18		(254)
2023		(325)		(7)		59		(273)

Schedule of other creditors and accrued liabilities


As of December 31, (M$)		2025		2024		2023
Accruals and deferred income		2,323		1,561		1,129
Payable to States (including taxes and duties)		10,427		12,561		13,974
Payroll		1,820		1,597		1,687
Other operating liabilities		21,774		20,242		19,937
OTHER CREDITORS AND ACCRUED LIABILITIES		36,344		35,961		36,727

Schedule of additional information on cash paid or received in the cash flow from operating activities


For the year ended December 31, (M$)		2025		2024		2023
Interests paid		(3,051)		(2,934)		(2,883)
Interests received		944		1,302		1,431
Income tax paid^(a)		(9,622)		(10,561)		(12,688)
Dividends received		1,722		1,833		2,821

(a)	These amounts include taxes paid in kind under production-sharing contracts in exploration and production activities.

Detail of changes in working capital


For the year ended December 31, (M$)		2025		2024		2023
Inventories		2,848		(203)		3,159
Accounts receivable		1,406		3,884		306
Other current assets		3,266		(3,556)		14,860
Accounts payable		(3,198)		(889)		572
Other creditors and accrued liabilities		(3,038)		3,128		(12,806)
NET AMOUNT, DECREASE (INCREASE)		1,284		2,364		6,091

Detail of changes in provisions and deferred taxes


As of December 31, (M$)		2025		2024		2023
Accruals		617		(373)		257
Deferred taxes		307		563		556
TOTAL		924		190		813