Payroll, staff and employee benefits obligations (Tables)
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12 Months Ended |
Dec. 31, 2025 |
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| Payroll, staff and employee benefits obligations |
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| Schedule of liabilities for employee benefits obligations |
| | | | | | | As of December 31, | | | | | | | (M$) | | 2025 | | 2024 | | 2023 | Pension benefits liabilities | | 1,529 | | 1,290 | | 1,453 | Other benefits liabilities | | 423 | | 411 | | 468 | Restructuring reserves (early retirement plans) | | 66 | | 52 | | 72 | TOTAL | | 2,018 | | 1,753 | | 1,993 | Net liabilities relating to assets held for sale | | – | | – | | – |
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| Schedule of fair value of the defined benefit obligation and plan assets |
| | | | | | | | | | | | | As of December 31, | | Pension benefits | | Other benefits | (M$) | | 2025 | | 2024 | | 2023 | | 2025 | | 2024 | | 2023 | Change in benefit obligation | | | | | | | | | | | | | Benefit obligation at beginning of year | | 8,176 | | 8,847 | | 8,267 | | 411 | | 468 | | 467 | Current service cost | | 212 | | 191 | | 178 | | 10 | | 8 | | 12 | Interest cost | | 369 | | 328 | | 355 | | 16 | | 19 | | 20 | Past service cost | | (32) | | 60 | | 47 | | – | | (0) | | – | Settlements | | 2 | | (55) | | 2 | | – | | – | | – | Plan participants’ contributions | | 28 | | 26 | | 23 | | – | | – | | – | Benefits paid | | (635) | | (538) | | (563) | | (22) | | (26) | | (24) | Actuarial losses / (gains) | | 12 | | (277) | | 393 | | (35) | | (30) | | (6) | Foreign currency translation and other | | 799 | | (406) | | 146 | | 43 | | (28) | | (1) | Benefit obligation at year-end | | 8,931 | | 8,176 | | 8,847 | | 423 | | 411 | | 468 | Of which plans entirely or partially funded | | 8,268 | | 7,689 | | 8,392 | | – | | – | | – | Of which plans not funded | | 663 | | 487 | | 455 | | 423 | | 411 | | 468 | Change in fair value of plan assets | | | | | | | | | | | | | Fair value of plan assets at beginning of year | | (7,073) | | (7,768) | | (7,306) | | – | | – | | – | Interest income | | (332) | | (313) | | (332) | | – | | – | | – | Actuarial losses / (gains)(a) | | (19) | | 288 | | (272) | | – | | – | | – | Settlements | | – | | 57 | | – | | – | | – | | – | Plan participants’ contributions | | (28) | | (26) | | (23) | | – | | – | | – | Employer contributions | | (181) | | (163) | | (254) | | – | | – | | – | Benefits paid | | 578 | | 497 | | 523 | | – | | – | | – | Foreign currency translation and other | | (692) | | 355 | | (104) | | – | | – | | – | Fair value of plan assets at year-end | | (7,747) | | (7,073) | | (7,768) | | – | | – | | – | (FUNDED) UNFUNDED STATUS | | 1,184 | | 1,103 | | 1,079 | | 423 | | 411 | | 468 | Asset ceiling | | 57 | | 33 | | 44 | | – | | – | | – | (ASSETS) LIABILITIES NET RECOGNIZED AMOUNT | | 1,241 | | 1,136 | | 1,123 | | 423 | | 411 | | 468 | Pension benefits and other benefits liabilities | | 1,529 | | 1,290 | | 1,453 | | 423 | | 411 | | 468 | Other non-current assets | | (288) | | (154) | | (330) | | – | | – | | – | Net benefit liabilities relating to assets held for sale | | – | | – | | – | | – | | – | | – |
(a)The amount for 2025 includes an adjustment of $(14) million related to asset ceiling, which impacts the net position (liabilities – assets).
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| Schedule of benefit amounts recognized and estimated future payments |
| | | | | | | | | | | | | For the year ended December 31, | | Pension benefits | | Other benefits | (M$) | | 2025 | | 2024 | | 2023 | | 2025 | | 2024 | | 2023 | Current service cost | | 212 | | 191 | | 178 | | 10 | | 8 | | 12 | Past service cost | | (32) | | 60 | | 47 | | – | | (0) | | – | Settlements | | 2 | | 2 | | 2 | | – | | – | | – | Net interest cost | | 41 | | 21 | | 28 | | 16 | | 19 | | 20 | Benefit amounts recognized on profit and loss | | 223 | | 274 | | 255 | | 26 | | 27 | | 32 | - Actuarial (gains) / losses | | | | | | | | | | | | | - Effect of changes in demographic assumptions | | (6) | | (69) | | 4 | | (2) | | (4) | | (8) | - Effect of changes in financial assumptions | | (122) | | (425) | | 188 | | (13) | | (24) | | (7) | - Effect of experience adjustments | | 143 | | 217 | | 204 | | (20) | | (2) | | 8 | - Actual return on plan assets | | (36) | | 303 | | (272) | | – | | – | | – | - Effect of asset ceiling | | 14 | | (16) | | (3) | | – | | – | | – | Benefit amounts recognized on other of consolidated statement of
comprehensive income | | (7) | | 11 | | 121 | | (35) | | (30) | | (6) | TOTAL BENEFIT AMOUNTS RECOGNIZED ON COMPREHENSIVE INCOME | | 216 | | 284 | | 376 | | (9) | | (3) | | 25 |
| | | | | Estimated future payments | | | | | (M$) | | Pension benefits | | Other benefits | 2026 | | 607 | | 23 | 2027 | | 630 | | 23 | 2028 | | 648 | | 22 | 2029 | | 635 | | 22 | 2030 | | 613 | | 23 | 2031-2035 | | 3,548 | | 112 |
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| Schedule of asset allocation |
| | | | | | | | Asset allocation | | Pension benefits | | as of December 31, | | 2025 | | 2024 | | 2023 | | Equity securities | | 18% | | 17% | | 27% | | Debt securities | | 43% | | 44% | | 47% | | Monetary | | 2% | | 2% | | 2% | | Annuity contracts | | 31% | | 32% | | 17% | | Real estate | | 6% | | 5% | | 7% | |
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| Schedule of main actuarial assumptions |
| | | | | | | | | | | | | | | | Pension benefits | | Other benefits | | As of December 31, | | 2025 | | 2024 | | 2023 | | 2025 | | 2024 | | 2023 | | Discount rate (weighted average for all regions) | | 4.40% | | 4.30% | | 3.89% | | 4.47% | | 4.17% | | 4.26% | | of which Euro zone | | 3.72% | | 3.49% | | 3.27% | | 3.67% | | 3.41% | | 3.30% | | of which United States | | 4.75% | | 5.00% | | 4.50% | | 5.00% | | 5.00% | | 4.50% | | of which United Kingdom | | 5.50% | | 5.50% | | 4.50% | | – | | – | | – | | Inflation rate (weighted average for all regions) | | 2.53% | | 2.54% | | 2.49% | | – | | – | | – | | of which Euro zone | | 2.00% | | 1.98% | | 2.24% | | – | | – | | – | | of which United States | | 2.50% | | 2.50% | | 2.50% | | – | | – | | – | | of which United Kingdom | | 3.00% | | 3.25% | | 3.00% | | – | | – | | – | |
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| Schedule of sensitivity analysis impact on benefit obligation |
A 0.5 point increase or decrease in discount rates – all other things being equal - would have the following approximate impact on the benefit obligation: | | | | | (M$) | | 0.5 pt Increase | | 0.5 pt Decrease | Benefit obligation as of December 31, 2025 | | (453) | | 488 |
A 0.5 point increase or decrease in inflation rates – all other things being equal - would have the following approximate impact on the benefit obligation: | | | | | (M$) | | 0.5 pt Increase | | 0.5 pt Decrease | Benefit obligation as of December 31, 2025 | | 258 | | (251) |
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| Schedule of personnel expenses and Group employees |
| | | | | | | For the year ended December 31, | | 2025 | | 2024 | | 2023 | Personnel expenses (M$) | | | | | | | Wages and salaries (including social charges) | | 9,973 | | 9,460 | | 9,210 | TotalEnergies employees at December 31, | | | | | | | France (DROM COM includ.) | | | | | | | ● Management | | 15,067 | | 15,101 | | 14,675 | ● Other | | 20,357 | | 20,779 | | 20,831 | International | | | | | | | ● Management | | 20,504 | | 20,318 | | 19,470 | ● Other | | 45,585 | | 46,689 | | 47,603 | TOTAL | | 101,513 | | 102,887 | | 102,579 |
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