Shell Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	18,751	17,837	16,094	19,359	42,309	20,101
Depreciation & Amortization	24,004	23,424	25,034	28,265	18,188	25,029
Loss (Gain) From Sale of Assets	-3,381	-3,190	288	-246	-642	-5,995
Asset Writedown & Restructuring Costs	1,947	2,252	3,460	3,893	1,222	2,531
Loss (Gain) on Equity Investments	-910	-1,618	-2,993	-3,725	-3,972	-4,097
Other Operating Activities	9,551	5,961	10,742	-500	16,329	17,902
Change in Accounts Receivable	-5,554	2,240	6,578	12,401	-8,989	-20,567
Change in Inventory	-5,624	1,916	1,273	6,325	-8,360	-7,319
Change in Accounts Payable	860	-5,959	-5,789	-11,581	12,329	17,519
Operating Cash Flow	39,644	42,863	54,687	54,191	68,414	45,104
Operating Cash Flow Growth	-21.71%	-21.62%	0.92%	-20.79%	51.68%	32.25%
Capital Expenditures	-18,956	-18,947	-19,601	-22,993	-22,600	-19,000
Sale of Property, Plant & Equipment	861	1,148	1,621	2,565	1,431	14,233
Investment in Securities	-705	-730	-312	-874	-1,605	183
Other Investing Activities	2,812	1,718	3,137	3,568	326	-177
Investing Cash Flow	-15,988	-16,811	-15,155	-17,734	-22,448	-4,761
Short-Term Debt Issued	-	-	-	-	318	14
Long-Term Debt Issued	-	2,920	363	1,029	269	1,791
Total Debt Issued	2,711	2,920	363	1,029	587	1,805
Short-Term Debt Repaid	-	-262	-310	-211	-	-
Long-Term Debt Repaid	-	-11,806	-9,672	-10,650	-8,459	-21,534
Total Debt Repaid	-12,348	-12,068	-9,982	-10,861	-8,459	-21,534
Net Debt Issued (Repaid)	-9,637	-9,148	-9,619	-9,832	-7,872	-19,729
Repurchase of Common Stock	-14,705	-15,179	-14,687	-15,506	-19,030	-3,174
Common Dividends Paid	-8,393	-8,472	-8,668	-8,393	-7,405	-6,253
Other Financing Activities	-3,714	-3,013	-5,461	-4,504	-7,647	-5,508
Financing Cash Flow	-36,449	-35,812	-38,435	-38,235	-41,954	-34,664
Foreign Exchange Rate Adjustments	308	866	-761	306	-736	-539
Net Cash Flow	-12,484	-8,894	336	-1,472	3,276	5,140
Free Cash Flow	20,688	23,916	35,086	31,198	45,814	26,104
Free Cash Flow Growth	-33.84%	-31.84%	12.46%	-31.90%	75.51%	48.99%
Free Cash Flow Margin	7.74%	8.96%	12.34%	9.85%	12.02%	9.98%
Free Cash Flow Per Share	3.54	4.02	5.51	4.59	6.18	3.34
Cash Interest Paid	4,295	4,104	4,557	4,441	3,677	4,014
Cash Income Tax Paid	11,039	11,638	12,002	13,712	13,120	5,476
Levered Free Cash Flow	15,634	22,735	28,543	28,211	25,715	18,687
Unlevered Free Cash Flow	18,774	25,654	31,535	31,132	27,703	20,942
Change in Working Capital	-10,318	-1,803	2,062	7,145	-5,020	-10,367

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