SHELL PLC
income). This amount includes both the reversal of prior gains of $147
million (Q3 2020: $15 million losses) related to sales contracts and
prior gains of $23 million (Q3 2020: $22 million gains) related to
purchase contracts that were previously recognised and where physical
settlement has taken place in the fourth quarter 2020.
2. Comparative information for inter-segment revenue for Upstream,
Oil Products and Chemicals has been revised to conform with reporting
segment changes applicable from January 1, 2020.
RECONCILIATION OF INCOME FOR THE PERIOD TO CCS EARNINGS
Quarters $ million Full year
Q4 2020 Q3 2020 Q4 2019 2020 2019
Income/(loss) attributable to Royal Dutch Shell plc
(4,014) 489 965 shareholders (21,680) 15,842
58 57 124 Income/(loss) attributable to non-controlling interest 146 590
(3,956) 546 1,089 Income/(loss) for the period (21,534) 16,432
Current cost of supplies adjustment:
(589) (395) (69) Purchases 2,358 (784)
133 100 13 Taxation (586) 194
(23) (29) (37) Share of profit/(loss) of joint ventures and associates 59 (15)
(479) (324) (93) Current cost of supplies adjustment 1,831 (605)
of which:
(465) (312) (94) Attributable to Royal Dutch Shell plc shareholders 1,758 (572)
(14) (12) 1 Attributable to non-controlling interest 74 (33)
(4,434) 222 996 CCS earnings (19,702) 15,827
of which:
(4,478) 177 871 CCS earnings attributable to Royal Dutch Shell plc (19,922) 15,270
shareholders
44 45 125 CCS earnings attributable to non-controlling interest 220 557
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ROYAL DUTCH SHELL PLC 4TH QUARTER 2020 AND FULL YEAR
UNAUDITED RESULTS
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3. Earnings per share
EARNINGS PER SHARE
Quarters Full year
Q4 2020 Q3 2020 Q4 2019 2020 2019
Income/(loss) attributable to Royal Dutch Shell plc
(4,014) 489 965 shareholders ($ million) (21,680) 15,842
Weighted average number of shares used as the basis
for determining:
7,784.4 7,788.7 7,907.2 Basic earnings per share (million) 7,795.6 8,058.3
7,784.4 7,823.6 7,962.5 Diluted earnings per share (million) 7,795.6 8,112.5
--------- --------- --------- ------------------------------------------------------- ---------- ---------
4. Share capital
ISSUED AND FULLY PAID ORDINARY SHARES OF EUR0.07 EACH1
Nominal value ($
Number of shares million)
A B A B Total
At January 1,
2020 4,151,787,517 3,729,407,107 349 308 657
Repurchases of
shares (50,548,018) (23,223,271) (4) (2) (6)
At December
31, 2020 4,101,239,499 3,706,183,836 345 306 651
At January 1,
2019 4,471,889,296 3,745,486,731 376 309 685
Repurchases of
shares (320,101,779) (16,079,624) (27) (1) (28)
At December
31, 2019 4,151,787,517 3,729,407,107 349 308 657
-------------- ------------- ------------- -------- --- -----
1. Share capital at December 31, 2020 also included 50,000 issued and
fully paid sterling deferred shares of GBP1 each.
At Royal Dutch Shell plc's Annual General Meeting on May 19, 2020, the
Board was authorised to allot ordinary shares in Royal Dutch Shell plc,
and to grant rights to subscribe for, or to convert, any security into
ordinary shares in Royal Dutch Shell plc, up to an aggregate nominal
amount of EUR182.7 million (representing 2,611 million ordinary shares
of EUR0.07 each), and to list such shares or rights on any stock
exchange. This authority expires at the earlier of the close of business
on August 19, 2021, and the end of the Annual General Meeting to be held
in 2021, unless previously renewed, revoked or varied by Royal Dutch
Shell plc in a general meeting.
5. Other reserves
OTHER RESERVES
Accumulated
Share Capital Share other
Merger premium redemption plan comprehensive
$ million reserve reserve reserve reserve income Total
At January 1, 2020 37,298 154 123 1,049 (24,173) 14,451
Other comprehensive income/(loss) attributable to
Royal Dutch Shell plc shareholders -- -- -- -- (1,832) (1,832)
Transfer from other comprehensive income -- -- -- -- 270 270
Repurchases of shares -- -- 6 -- -- 6
Share-based compensation -- -- -- (143) -- (143)
At December 31, 2020 37,298 154 129 906 (25,735) 12,752
At January 1, 2019 37,298 154 95 1,098 (22,030) 16,615
Other comprehensive income/(loss) attributable to
Royal Dutch Shell plc shareholders -- -- -- -- (2,069) (2,069)
Transfer from other comprehensive income -- -- -- -- (74) (74)
Repurchases of shares -- -- 28 -- -- 28
Share-based compensation -- -- -- (49) -- (49)
At December 31, 2019 37,298 154 123 1,049 (24,173) 14,451
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ROYAL DUTCH SHELL PLC 4TH QUARTER 2020 AND FULL YEAR
UNAUDITED RESULTS
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The merger reserve and share premium reserve were established as a
consequence of Royal Dutch Shell plc becoming the single parent company
of Royal Dutch Petroleum Company and The "Shell" Transport and Trading
Company, p.l.c., now The Shell Transport and Trading Company Limited, in
2005. The merger reserve increased in 2016 following the issuance of
shares for the acquisition of BG Group plc. The capital redemption
reserve was established in connection with repurchases of shares of
Royal Dutch Shell plc. The share plan reserve is in respect of
equity-settled share-based compensation plans.
6. Derivative financial instruments and debt excluding lease liabilities
As disclosed in the Consolidated Financial Statements for the year ended
December 31, 2019, presented in the Annual Report and Accounts and Form
20-F for that year, Shell is exposed to the risks of changes in fair
value of its financial assets and liabilities. The fair values of the
financial assets and liabilities are defined as the price that would be
received to sell an asset or paid to transfer a liability in an orderly
transaction between market participants at the measurement date. Methods
and assumptions used to estimate the fair values at December 31, 2020,
are consistent with those used in the year ended December 31, 2019,
though the carrying amounts of derivative financial instruments measured
using predominantly unobservable inputs have changed since that date.
The table below provides the comparison of the fair value with the
carrying amount of debt excluding lease liabilities, disclosed in
accordance with IFRS 7 Financial Instruments: Disclosures.
DEBT EXCLUDING LEASE LIABILITIES
$ million December 31, 2020 December 31, 2019
Carrying amount 79,594 65,887
Fair value(1) 88,294 71,163
---------------------------- ----------------- -----------------
1. Mainly determined from the prices quoted for these securities.
7. Other notes to the unaudited Condensed Consolidated Financial
Statements
Consolidated Statement of Income
Depreciation, depletion and amortisation
Quarters $ million Full year (MORE TO FOLLOW) Dow Jones Newswires
02-04-21 0216ET
