Shell Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	14,631	16,094	19,359	42,309	20,101	-21,680
Depreciation & Amortization	23,887	25,034	28,265	18,188	25,029	45,951
Loss (Gain) From Sale of Assets	-781	288	-246	-642	-5,995	-286
Asset Writedown & Restructuring Costs	3,283	3,460	3,893	1,222	2,531	7,308
Loss (Gain) on Equity Investments	-1,677	-2,993	-3,725	-3,972	-4,097	-1,783
Other Operating Activities	7,919	10,742	-500	16,329	17,902	-13
Change in Accounts Receivable	2,345	6,578	12,401	-8,989	-20,567	9,625
Change in Inventory	1,308	1,273	6,325	-8,360	-7,319	4,477
Change in Accounts Payable	-4,325	-5,789	-11,581	12,329	17,519	-9,494
Operating Cash Flow	46,590	54,687	54,191	68,414	45,104	34,105
Operating Cash Flow Growth	-13.87%	0.92%	-20.79%	51.68%	32.25%	-19.14%
Capital Expenditures	-20,185	-19,601	-22,993	-22,600	-19,000	-16,585
Sale of Property, Plant & Equipment	1,742	1,621	2,565	1,431	14,233	2,489
Investment in Securities	-243	-312	-874	-1,605	183	279
Other Investing Activities	2,632	3,137	3,568	326	-177	539
Investing Cash Flow	-16,054	-15,155	-17,734	-22,448	-4,761	-13,278
Short-Term Debt Issued	-	-	-	318	14	-
Long-Term Debt Issued	-	363	1,029	269	1,791	23,033
Total Debt Issued	481	363	1,029	587	1,805	23,033
Short-Term Debt Repaid	-	-310	-211	-	-	-63
Long-Term Debt Repaid	-	-9,672	-10,650	-8,459	-21,534	-17,385
Total Debt Repaid	-12,189	-9,982	-10,861	-8,459	-21,534	-17,448
Net Debt Issued (Repaid)	-11,708	-9,619	-9,832	-7,872	-19,729	5,585
Repurchase of Common Stock	-15,269	-14,687	-15,506	-19,030	-3,174	-2,084
Common Dividends Paid	-8,517	-8,668	-8,393	-7,405	-6,253	-7,424
Other Financing Activities	-4,158	-5,461	-4,504	-7,647	-5,508	-3,301
Financing Cash Flow	-39,652	-38,435	-38,235	-41,954	-34,664	-7,224
Foreign Exchange Rate Adjustments	-83	-761	306	-736	-539	172
Net Cash Flow	-9,199	336	-1,472	3,276	5,140	13,775
Free Cash Flow	26,405	35,086	31,198	45,814	26,104	17,520
Free Cash Flow Growth	-22.38%	12.46%	-31.90%	75.51%	48.99%	-8.78%
Free Cash Flow Margin	9.81%	12.34%	9.85%	12.02%	9.98%	9.70%
Free Cash Flow Per Share	4.36	5.51	4.59	6.18	3.34	2.25
Cash Interest Paid	4,287	4,557	4,441	3,677	4,014	4,105
Cash Income Tax Paid	11,909	12,002	13,712	13,120	5,476	3,290
Levered Free Cash Flow	17,618	28,543	28,211	25,715	18,687	22,557
Unlevered Free Cash Flow	20,550	31,535	31,132	27,703	20,942	25,112
Change in Working Capital	-672	2,062	7,145	-5,020	-10,367	4,608

Source: S&P Global Market Intelligence. Standard template. Financial Sources.