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Shareholders' equity and share-based payments (Tables)
12 Months Ended
Dec. 31, 2024
Shareholders' equity and share-based payments  
Summary of share cancellation

 

 

 

Percentage

 

Number of shares bought back and cancelled

 

of the share

Board of Directors’

for the purpose of the shareholder policy

 

capital

Fiscal year

    

decision date

    

    

cancelled(a)

 

2024

February 6, 2024(b)

 

25,405,361 shares bought back between August 25 and October 26, 2023

 

1.05

%

2023

September 21, 2023(c)

 

86,012,344 shares bought back between January 2 and August 24, 2023

 

3.44

%

2023

February 7, 2023

 

128,869,261 shares bought back between February 11 and December 15, 2022

 

4.92

%

2022

February 9, 2022

 

30,665,526 shares bought back between November 8 and December 22, 2021

 

1.16

%

(a)

Percentage of the share capital that the cancelled shares represented on the operations’ date.

(b)

With effect as at February 12, 2024.

(c)

With effect as at September 25, 2023.

Schedule of variation of the number of shares composing the shares capital

AS OF DECEMBER 31, 2021 (a)

    

    

2,640,429,329

Capital reduction by cancellation of treasury shares

(30,665,526)

Deferred contribution pursuant to the 2017 capital increase reserved for employees

9,471

 

2022 Capital increase reserved for employees

 

9,358,011

AS OF DECEMBER 31, 2022 (b)

 

  

 

2,619,131,285

 

Capital reduction by cancellation of treasury shares

 

(214,881,605)

2023 Capital increase reserved for employees

8,002,155

AS OF DECEMBER 31, 2023 (c)

 

  

 

2,412,251,835

 

Capital reduction by cancellation of treasury shares

 

(25,405,361)

2024 Capital increase reserved for employees

10,833,187

AS OF DECEMBER 31, 2024 (d)

 

  

 

2,397,679,661

(a)

Including 33,841,104 treasury shares deducted from consolidated shareholders’ equity.

(b)

Including 137,187,667 treasury shares deducted from consolidated shareholders’ equity.

(c)

Including 60,543,213 treasury shares deducted from consolidated shareholders’ equity.

(d)

Including 149,529,818 treasury shares deducted from consolidated shareholders’ equity.

Schedule of ESOP completed by the company

Fiscal year

    

2024

    

2023

    

2022

Date of the ESOP

June 6, 2024

June 7, 2023

June 8, 2022

By virtue of

16th resolution of the ESM of May 26, 2023

22nd resolution of the ESM of May 25, 2022

17th resolution of the ESM of May 28, 2021

Subscriptions

Number of shares subscribed

10,251,337

7,760,062

9,130,380

Subscription price

46.90 euros

45.60 euros

37.00 euros

Free shares

Number of shares granted

581,850

242,093

227,631

Schedule of treasury shares held by TotalEnergies SE

As of December 31,

    

2024

    

2023

    

2022

 

Number of treasury shares held by TotalEnergies SE

 

149,529,818

 

60,543,213

 

137,187,667

 

Percentage of share capital

 

6.24

%

2.51

%

5.24

%

Schedule of weighted-average shares and diluted shares used to calculate earnings per share and fully-diluted earnings per share

    

2024

    

2023

    

2022

Number of shares as of January 1,

  

2,412,251,835

2,619,131,285

2,640,429,329

TotalEnergies shares held by TotalEnergies SE or by its subsidiaries and deducted from shareholders’ equity

(60,543,213)

(137,187,667)

(33,841,104)

Evolution of the number of shares during the financial year pro-rated

  

 

 

Final grant of TotalEnergies performance shares

  

4,041,839

 

5,378,956

 

5,152,336

Capital increase reserved for employees (a)

  

6,322,466

 

4,671,946

 

5,465,154

Capital increase as payment of the scrip dividend

Buyback of TotalEnergies treasury shares including:

  

(64,051,218)

 

(74,633,216)

 

(62,498,318)

Shares repurchased during the fiscal year to cancel the dilution caused by the scrip dividend payment and within the framework of the share buyback program

(56,849,392)

(72,985,133)

(58,621,530)

Shares repurchased during the fiscal year to cover for the performance share plans

(7,201,826)

(1,648,083)

(3,876,788)

WEIGHTED-AVERAGE NUMBER OF SHARES

  

2,298,021,710

 

2,417,361,304

 

2,554,707,397

Dilutive effect

  

 

 

Grant of TotalEnergies performance shares

  

14,553,688

 

14,354,523

 

15,890,560

Capital increase reserved for employees(a)

  

1,985,324

 

2,051,751

 

1,584,068

WEIGHTED-AVERAGE NUMBER OF DILUTED SHARES AS OF DECEMBER 31,

  

2,314,560,722

 

2,433,767,578

 

2,572,182,025

(a)    Including the shares granted in consideration to the deferred contribution pursuant to the capital increase reserved for employees.

Schedule of dividends

2024 Dividend

    

First interim

    

Second interim

    

Third interim

    

Final

Amount

€0.79

€0.79

€0.79

€0.85

Set date

 

April 25, 2024

 

July 24, 2024

 

October 30, 2024

 

February 4, 2025

Ex-dividend date

 

September 25, 2024

 

January 2, 2025

 

March 26, 2025

 

June 19, 2025

Payment date

 

October 1, 2024

 

January 6, 2025

 

April 1, 2025

 

July 1, 2025

Summary of the perpetual deeply subordinated notes

Perpetual deeply subordinated notes issues by TotalEnergies SE

    

    

Outstanding amount in M€ as of:

Date

    

Amount issued (M€)

    

Coupon (%)

    

First call date

    

December 31, 2024

    

December 31, 2023

    

December 31, 2022

November 19, 2024

1,250

4.120

%  

February 19, 2030

1,250

1,250

4.500

%

November 19, 2034

1,250

January 17, 2022

750

3.250

%  

January 17, 2037

750

750

750

1,000

2.000

%  

April 17, 2027

1,000

1,000

1,000

January 25, 2021

 

1,500

 

2.125

%  

January 25, 2033

 

1,500

 

1,500

 

1,500

 

1,500

 

1.625

%  

January 25, 2028

 

1,500

 

1,500

 

1,500

September 4, 2020

 

1,000

 

2.000

%  

September 4, 2030

 

1,000

 

1,000

 

1,000

April 4, 2019

 

1,500

 

1.750

%  

April 4, 2024

 

 

1,500

 

1,500

October 6, 2016

 

1,500

 

3.369

%  

October 6, 2026

 

1,500

 

1,500

 

1,500

1,000

 

2.708

%  

May 5, 2023

 

 

 

1,000

February 26, 2015

 

2,500

 

2.625

%  

February 26, 2025

 

1,082

 

2,500

 

2,500

TOTAL

 

 

 

10,832

 

11,250

 

12,250

Schedule of other comprehensive income

For the year ended December 31,

    

    

    

(M$)

    

2024

    

2023

    

2022

Actuarial gains and losses

  

    

20

  

    

(114)

  

    

574

Change in fair value of investments in equity instruments

144

(11)

112

Tax effect

 

  

 

46

 

  

 

(11)

 

  

 

(96)

Currency translation adjustment generated by the parent company

 

  

 

(4,163)

 

  

 

2,573

 

  

 

(4,976)

Sub-total items not potentially reclassifiable to profit & loss

 

  

 

(3,953)

 

  

 

2,437

 

  

 

(4,386)

Currency translation adjustment

 

  

 

2,759

 

  

 

(3,277)

 

  

 

1,734

– Unrealized gain/(loss) of the period

 

 

2,879

 

 

(2,524)

 

 

1,974

– Less gain/(loss) included in net income

 

 

120

 

 

753

 

 

240

Cash flow hedge

 

 

3,119

 

  

 

2,898

 

  

 

(5,452)

– Unrealized gain/(loss) of the period

 

 

188

 

 

3,155

 

 

(4,190)

– Less gain/(loss) included in net income

 

 

(2,931)

 

 

257

 

 

1,262

Variation of foreign currency basis spread

(32)

(11)

65

– Unrealized gain/(loss) of the period

(50)

(37)

26

– Less gain/(loss) included in net income

(18)

(26)

(39)

Share of other comprehensive income of equity affiliates, net amount

 

 

(246)

 

 

(208)

 

  

 

3,497

– Unrealized gain/(loss) of the period

 

 

(294)

 

 

(194)

 

 

1,071

– Less gain/(loss) included in net income

 

 

(48)

 

 

14

 

 

(2,426)

Other

 

 

1

  

 

(2)

 

  

 

(16)

Tax effect

 

 

(814)

 

  

 

(730)

 

  

 

1,449

Sub-total items potentially reclassifiable to profit & loss

 

 

4,787

 

  

 

(1,330)

 

  

 

1,277

TOTAL OTHER COMPREHENSIVE INCOME, NET AMOUNT

 

  

 

834

 

  

 

1,107

 

  

 

(3,109)

The currency translation adjustment by currency is detailed in the following table:

As of December 31, 2024

Pound

Other

(M$)

    

Total

    

Euro

    

sterling

    

Ruble

    

currencies

Parent company

 

(4,163)

 

(4,163)

 

 

 

Affiliates

 

2,759

 

3,238

 

(86)

 

 

(383)

Equity affiliates

 

(205)

 

211

 

(1)

 

 

(415)

TOTAL CURRENCY TRANSLATION ADJUSTMENT RECOGNIZED IN COMPREHENSIVE INCOME

 

(1,609)

 

(714)

 

(87)

 

 

(798)

As of December 31, 2023

    

    

    

Pound

    

    

Other

(M$)

    

Total

    

Euro

    

sterling

    

Ruble

    

currencies

Parent company

 

2,573

 

2,573

 

 

 

Affiliates

 

(3,277)

 

(3,174)

 

186

 

 

(289)

Equity affiliates

 

(179)

 

(107)

 

(9)

 

 

(63)

TOTAL CURRENCY TRANSLATION ADJUSTMENT RECOGNIZED IN COMPREHENSIVE INCOME

 

(883)

 

(708)

 

177

 

 

(352)

As of December 31, 2022

    

    

    

Pound

    

    

Other

(M$)

    

Total

    

Euro

    

sterling

    

Ruble

    

currencies

Parent company

 

(4,976)

 

(4,976)

 

 

 

Affiliates

 

1,734

 

3,120

 

(592)

 

4

 

(798)

Equity affiliates

 

3,002

 

(1,076)

 

31

 

4,247

 

(200)

TOTAL CURRENCY TRANSLATION ADJUSTMENT RECOGNIZED IN COMPREHENSIVE INCOME

 

(240)

 

(2,932)

 

(561)

 

4,251

 

(998)

Tax effects relating to each component of other comprehensive income are as follows:

    

2024

    

2023

2022

For the year ended December 31,

    

Pre-tax

    

Tax

    

Net

    

Pre-tax

    

Tax

    

Net

    

Pre-tax

    

Tax

    

Net

(M$)

amount

 

effect

 

amount

amount

 

effect

 

amount

amount

 

effect

 

amount

Actuarial gains and losses

20

 

76

 

96

(114)

 

(10)

 

(124)

574

 

(106)

 

468

Change in fair value of investments in equity instruments

144

(30)

114

(11)

(1)

(12)

112

10

122

Currency translation adjustment generated by the parent company

(4,163)

 

 

(4,163)

2,573

 

 

2,573

(4,976)

 

 

(4,976)

Sub-total items not potentially reclassifiable to profit & loss

(3,999)

 

46

 

(3,953)

2,448

 

(11)

 

2,437

(4,290)

 

(96)

 

(4,386)

Currency translation adjustment

2,759

 

 

2,759

(3,277)

 

 

(3,277)

1,734

 

 

1,734

Cash flow hedge

3,119

 

(822)

 

2,297

2,898

 

(733)

 

2,165

(5,452)

 

1,466

 

(3,986)

Variation of foreign currency basis spread

(32)

8

(24)

(11)

3

(8)

65

(17)

48

Share of other comprehensive income of equity affiliates, net amount

(246)

 

 

(246)

(208)

 

 

(208)

3,497

 

 

3,497

Other

1

 

 

1

(2)

 

 

(2)

(16)

 

 

(16)

Sub-total items potentially reclassifiable to profit & loss

5,601

 

(814)

 

4,787

(600)

 

(730)

 

(1,330)

(172)

 

1,449

 

1,277

TOTAL OTHER COMPREHENSIVE INCOME

1,602

 

(768)

 

834

1,848

 

(741)

 

1,107

(4,462)

 

1,353

 

(3,109)

Schedule of share-based payment expense

As of December 31,

    

    

    

(M$)

2024

2023

2022

TotalEnergies performance shares plans

 

287

 

217

 

200

TotalEnergies world shares plans

54

SunPower plans (a)

 

 

 

23

Capital increase reserved for employees

 

215

 

74

 

28

TOTAL

 

556

 

291

 

251

(a)

Since September 30, 2022, TotalEnergies’ 50.5% subsidiary in SunPower is accounted for using the equity method in the Company’s consolidated accounts (refer to Note 18 to the consolidated accounts).

TotalEnergies performance share plans  
Shareholders' equity and share-based payments  
Summary of performance share plans and restricted stock activities

    

2019

    

2020

    

2021

    

2022

    

2023 (a)

    

2024

    

Total

Date of the Shareholders’ Meeting

 

6/1/2018

 

6/1/2018

 

6/1/2018

 

5/28/2021

 

5/26/2023

 

5/24/2024

 

  

Award date

 

3/13/2019

 

3/18/2020

 

5/28/2021

 

3/16/2022

 

5/26/2023

 

5/24/2024

 

  

Date of the final award (end of the vesting period)

 

3/14/2022

 

3/20/2023

 

5/29/2024

 

3/17/2025

 

5/27/2026

 

5/24/2027

 

  

Transfer authorized as from

 

3/15/2024

 

3/21/2025

 

5/30/2026

 

3/17/2025

 

5/27/2026

 

5/24/2027

 

  

Grant date IFRS 2 fair value

40.11

12.40

27.40

37.22

46.24

55.83

  

Number of performance shares

 

 

  

Outstanding as of January 1, 2022

6,289,076

6,653,202

6,732,740

 

 

19,675,018

Notified

7,353,271

 

 

7,353,271

Cancelled

(127,852)

(65,561)

(57,410)

(25,090)

 

 

(275,913)

Finally granted

(6,161,224)

(12,680)

(13,750)

(8,000)

 

 

(6,195,654)

Outstanding as of January 1, 2023

6,574,961

6,661,580

7,320,181

 

 

20,556,722

Notified

7,985,203

 

 

7,985,203

Cancelled

(128,577)

(98,291)

(86,348)

(42,040)

 

 

(355,256)

Finally granted

(6,446,384)

(5,250)

(5,568)

(190)

 

 

(6,457,392)

Outstanding as of January 1, 2024

6,558,039

7,228,265

7,942,973

 

 

21,729,277

Notified

 

7,775,722

 

7,775,722

Cancelled

(498,045)

(77,209)

(61,731)

 

(12,871)

 

(649,856)

Finally granted

(6,059,994)

(2,811)

(3,134)

 

 

(6,065,939)

OUTSTANDING AS OF DECEMBER 31, 2024

7,148,245

7,878,108

 

7,762,851

22,789,204

(a)includes 37,000 performance shares granted on December 13, 2023 to 4 executives recruited in 2023 in accordance with the decision of the Board of Directors on December 13, 2023 and the Shareholders’ Meeting on May 26, 2023. For these performance shares, the vesting period begins on December 13, 2023 and the final grant date is December 14, 2026, subject to the conditions set (end of the vesting period). The IFRS 2 fair value on the grant date was €51.56.
Capital increase reserved for employees  
Shareholders' equity and share-based payments  
Schedule of assumptions used for valuation of the cost

For the year ended December 31,

    

2024

Date of the Board of Directors meeting that decided the issue

 

September 21, 2023

Reference price (€) (a)

 

66.89

Subscription price (€) (b)

 

46.90

Number of shares issued (in millions) (c)

 

10.83

(a)

Average of the closing prices of the TotalEnergies shares over the twenty trading sessions preceding April 25, 2024, being the date of the Chairman and CEO’s decision setting the opening date of the subscription period and the subscription price.

(b)

Reference price, reduced by a 30% discount and rounded off to the highest tenth of a euro.

(c)

Including the free shares issued.

TotalEnergies worldwide share plan  
Shareholders' equity and share-based payments  
Summary of performance share plans and restricted stock activities

    

2024

Date of the Shareholders’ Meeting

 

5/26/2023

Award date

 

5/23/2024

Date of the final award (end of the vesting period)

 

5/24/2029

Transfer authorized as from

 

5/24/2029

Grant date IFRS 2 fair value

47.94

Number of performance shares

Outstanding as of January 1, 2024

 

Notified

 

10,666,900

Cancelled

 

(337,500)

Finally granted(a)

 

Outstanding as of December 31, 2024

 

10,329,400

(a)Final grant following the death or disability of the beneficiary of the shares.