TotalEnergies SE 6-K, filed Oct 27, 2022

TotalEnergies SE (TTE)

6-K 2022-10-27 For: 2022-10-27

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Added on April 07, 2026

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TotalEnergies SE filed this 6-K on October 27, 2022.

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Exhibit No.	Description

Exhibit 99.1	Results for the Third Quarter of 2022 and Nine Months Ended September 30, 2022

Exhibit 99.2	Recent Developments

Exhibit 99.3	Capitalization and Indebtedness

	TotalEnergies SE


Date: October 27, 2022	By:	/s/ MARIE-SOPHIE WOLKENSTEIN
		Name:	Marie-Sophie Wolkenstein
		Title:	Company Treasurer

	1	Adjusted EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization) corresponds to the adjusted earnings before depreciation, depletion and impairment of tangible and intangible assets and mineral interests, income tax expense and cost of net debt, i.e., all operating income and contribution of equity affiliates to net income. The reconciliation of net income (TotalEnergies share) to adjusted EBITDA is set forth under “Reconciliation Of Net Income (TotalEnergies Share) To Adjusted EBITDA” on page 18 of this exhibit.
	2	Adjusted results are defined as income using replacement cost, adjusted for special items, excluding the impact of changes for fair value. See pages 4 et seq. “Analysis of business segment results” below for further details.
	3	Organic investments = net investments excluding acquisitions, asset sales and other operations with non-controlling interests.
	4	Net acquisitions = acquisitions - assets sales - other transactions with non-controlling interests (see page 18).
	5	Net investments = organic investments + net acquisitions (see “Investments – Divestments’” on page 18).
	6	See also “C. TotalEnergies results – Cash Flow”. The reconciliation table for different cash flow figures is set forth under “Cash Flow” on page 19 of this exhibit.


2,669	2,738	2,814	-5%	Hydrocarbon production (kboe/d)	2,750	2,808	-2%
1,494	1,483	1,517	-2%	Liquids (kb/d)	1,501	1,496	-
6,367	6,835	7,070	-10%	Gas (Mcf/d)	6,785	7,161	-5%

	●	+3% due to the start-up and ramp-up of projects including Clov Phase 2 and Zinia Phase 2 in Angola, Mero 1 in Brazil and Ikike in Nigeria,
	●	+2% due to the increase in OPEC+ production quotas,
	●	-3% due to higher planned maintenance, particularly on Ichthys, and unplanned shutdowns on Kashagan,
	●	-3% portfolio effect, notably related to the end of the operating licenses for Qatargas 1 and Bongkot North in Thailand, as well as the effective withdrawal from Myanmar, partially offset by the entry into the Sepia and Atapu producing fields in Brazil,
	●	-1% due to security-related production cuts in Libya and Nigeria,
	●	-1% due to the price effect,
	●	-2% due to the natural decline of the fields.

	●	$3,649 million in the third quarter 2022, 2.3 times the same quarter last year, due to higher LNG prices, the performance of gas, LNG and electricity trading activities and the growing contribution of Electricity & Renewables,
	●	$9,255 million over the first nine months of 2022, 2.7 times the same period last year for the same reasons.

	●	a negative impact of $1,069 million in the third quarter 2022 on the segment’s adjusted net operating income, compared to a positive impact of $158 million in the third quarter 2021,
	●	a positive impact of $4,110 million in the first nine months 2022 on the segment’s adjusted net operating income, compared to a positive impact of $449 million in the first nine months 2021.

	●	$2,683 million in the third quarter 2022, an increase of 56% compared to $1,720 million in the third quarter 2021, due to higher LNG prices, the performance of gas, LNG and electricity trading activities and the growing contribution of Electricity & Renewables, despite a lag effect on dividends received from equity affiliates,
	●	$7,628 million over the first nine months of 2022, 2.1 times higher than the first nine months of 2021 for the same reasons.

	●	a positive impact of $4,390 million for the third quarter 2022, compared to a negative impact of $463 million in the third quarter 2021 mainly due to the positive impact on working capital requirements of margin call reductions and the seasonality of the gas and electricity supply business,
	●	$8,675 million for the first nine months of 2022, 9.8 times higher than $884 million in the first nine months of 2021.

	10/01/2021-	07/01/2021-	10/01/2020-
in millions of dollars	09/30/2022	06/30/2022	09/30/2021
Adjusted net income	35,790	30,716	12,827
Average adjusted shareholders' equity	113,861	113,333	106,794
Return on equity (ROE)	31.4%	27.1%	12.0%

			Estimated
		Estimated impact	impact on cash
		on adjusted net	flow from
	Change	operating income	operations
Dollar	+/- 0.1 $ per €	-/+ 0.1 B$	~0 B$
Average liquids price**	+/- 10$/b	+/- 2.7 B$	+/- 3.2 B$
European gas price – NBP / TTF ***	+/- 2 $/Mbtu	+/- 0.5 B$	+/- 0.5 B$
Variable cost margin, European refining (VCM)	+/- 10 $/t	+/- 0.4 B$	+/- 0.5 B$

Russian Upstream Assets (M$)	3Q22	2Q22	9M22
Net income (TotalEnergies share)	(1,907)	(3,202)	(8,113)
Cash flow from operations	349	368	748

	3Q22					2Q22
		Onshore	Offshore				Onshore	Offshore

Installed power generation gross capacity (GW) ^(1),(2) (3)	Solar	Wind	Wind	Other	Total	Solar	Wind	Wind	Other	Total
France	0.7	0.6	0.0	0.1	1.4	0.7	0.5	0.0	0.1	1.3
Rest of Europe	0.2	1.1	0.2	0.0	1.4	0.2	1.1	0.0	0.0	1.3
Africa	0.1	0.0	0.0	0.0	0.1	0.1	0.0	0.0	0.0	0.1
Middle East	0.7	0.0	0.0	0.0	0.7	0.7	0.0	0.0	0.0	0.7
North America	2.9	2.1	0.0	0.0	5.0	1.1	0.0	0.0	0.0	1.1
South America	0.4	0.3	0.0	0.0	0.7	0.4	0.3	0.0	0.0	0.7
India	4.9	0.3	0.0	0.0	5.3	4.9	0.2	0.0	0.0	5.1
Asia-Pacific	1.2	0.3	0.1	0.0	1.3	1.2	0.0	0.1	0.0	1.2
Total	11.1	4.4	0.3	0.2	16.0	9.2	2.1	0.1	0.2	11.6

	In operation					In construction					In development
Gross renewables capacity covered by PPA		Onshore	Offshore				Onshore	Offshore				Onshore	Offshore
at 09/30/2022 (GW)	Solar	Wind	Wind	Other	Total	Solar	Wind	Wind	Other	Total	Solar	Wind	Wind	Other	Total
Europe	0.9	1.6	X	X	2.8	0.3	X	0.7	X	1.2	4.1	0.3	—	X	4.5
Asia	6.1	0.4	X	X	6.6	0.9	0.2	0.5	—	1.7	4.5	X	—	X	4.7
North America	2.8	2.1	—	X	5.0	1.6	—	—	X	1.7	1.5	X	—	0.8	2.5
Rest of World	1.2	0.3	—	X	1.5	0.4	—	—	X	0.5	0.9	—	—	0.3	1.3
Total	11.0	4.4	0.2	X	15.9	3.3	0.3	1.3	0.2	5.1	11.1	0.6	—	1.2	13.0

3Q22	2Q22	3Q21	in millions of dollars	9M22	9M21
(2,186)	(4,546)	(325)	Special items affecting net income (TotalEnergies share)	(11,725)	(2,255)
1,391	-	(177)	Gain (loss) on asset sales	1,391	(1,556)
(17)	(8)	(43)	Restructuring charges	(28)	(314)
(3,118)	(3,719)	(47)	Impairments	(11,898)	(240)
(442)	(819)	(58)	Other	(1,190)	(145)
(827)	993	320	After-tax inventory effect: FIFO vs. replacement cost	1,206	1,384
(224)	(551)	(119)	Effect of changes in fair value	(855)	(169)
(3,237)	(4,104)	(124)	Total adjustments affecting net income	(11,374)	(1,040)

3Q22	2Q22	3Q21	3Q22 vs 3Q21	in millions of dollars	9M22	9M21	9M22 vs 9M21
6,626	5,692	4,645	*+43%*	Net income - TotalEnergies share	17,262	10,195	*+69%*
3,237	4,104	124	x26.1	Less: adjustment items to net income (TotalEnergies share)	11,374	1,040	x10.9
9,863	9,796	4,769	*x2.1*	Adjusted net income - TotalEnergies share	28,636	11,235	*x2.5*
-	-	-		Adjusted items	-		-
85	89	105	-19%	Add: non-controlling interests	250	252	-1%
6,037	5,274	2,674	x2.3	Add: income taxes	16,035	5,605	x2.9
2,926	3,038	3,172	-8%	Add: depreciation, depletion and impairment of tangible assets and mineral interests	9,112	9,457	-4%
95	98	85	+12%	Add: amortization and impairment of intangible assets	289	282	+2%
633	572	454	+39%	Add: financial interest on debt	1,667	1,421	+17%
(219)	(130)	(79)	ns	Less: financial income and expense from cash & cash equivalents	(408)	(235)	ns
19,420	18,737	11,180	*+74%*	Adjusted EBITDA	55,581	28,017	*+98%*

	Integrated Gas,
	Renewables &	Exploration &	Refining &	Marketing
in millions of dollars	Power	Production	Chemicals	& Services
Adjusted net operating income	12,014	17,476	6,368	1,695
Capital employed at 9/30/2021*	52,401	75,499	9,156	8,281
Capital employed at 9/30/2022*	54,923	65,041	5,801	7,141
ROACE	22.4%	24.9%	85.2%	22.2%

		3Q22	2Q22	1Q22	4Q21	3Q21
€/$		1.01	1.06	1.12	1.14	1.18
Brent	($/b)	100.8	113.9	102.2	79.8	73.5
Average liquids price*	($/b)	93.6	102.9	90.1	72.6	67.1
Average gas price* ⁽¹⁾	($/Mbtu)	16.83	11.01	12.27	11.38	6.33
Average LNG price** ⁽¹⁾	($/Mbtu)	21.51	13.96	13.60	13.12	9.10
Variable Cost Margin, European refining***	($/t)	99.2	145.7	46.3	16.7	8.8

		3^rd quarter	2^nd quarter	3^rd quarter
(M$)^(a)		2022	2022	2021

Sales		69,037	74,774	54,729
Excise taxes		(4,075)	(4,329)	(5,659)
	Revenues from sales	64,962	70,445	49,070

Purchases, net of inventory variation		(42,802)	(45,443)	(32,344)
Other operating expenses		(6,771)	(8,041)	(6,617)
Exploration costs		(71)	(117)	(127)
Depreciation, depletion and impairment of tangible assets and mineral interests		(2,935)	(3,102)	(3,191)
Other income		1,693	429	195
Other expense		(921)	(1,305)	(605)

Financial interest on debt		(633)	(572)	(454)
Financial income and expense from cash & cash equivalents		327	245	87
	Cost of net debt	(306)	(327)	(367)

Other financial income		196	231	193
Other financial expense		(112)	(136)	(140)

Net income (loss) from equity affiliates		(108)	(1,546)	1,377

Income taxes		(6,077)	(5,284)	(2,692)
Consolidated net income		6,748	5,804	4,752
TotalEnergies share		6,626	5,692	4,645
Non-controlling interests		122	112	107
Earnings per share ($)		2.58	2.18	1.72
Fully-diluted earnings per share ($)		2.56	2.16	1.71

		9 months	9 months
(M$)^(a)		2022	2021

Sales		212,417	145,515
Excise taxes		(13,060)	(16,179)
	Revenues from sales	199,357	129,336

Purchases, net of inventory variation		(127,893)	(82,461)
Other operating expenses		(22,435)	(20,214)
Exploration costs		(1,049)	(417)
Depreciation, depletion and impairment of tangible assets and mineral interests		(9,716)	(9,637)
Other income		2,265	776
Other expense		(4,516)	(1,562)

Financial interest on debt		(1,667)	(1,421)
Financial income and expense from cash & cash equivalents		786	259
	Cost of net debt	(881)	(1,162)

Other financial income		630	567
Other financial expense		(383)	(401)

Net income (loss) from equity affiliates		(1,611)	1,578

Income taxes		(16,165)	(5,940)
Consolidated net income		17,603	10,463
TotalEnergies share		17,262	10,195
Non-controlling interests		341	268
Earnings per share ($)		6.61	3.77
Fully-diluted earnings per share ($)		6.57	3.74

	9 months	9 months
(M$)	2022	2021
Consolidated net income	17,603	10,463

Other comprehensive income

Actuarial gains and losses	187	446
Change in fair value of investments in equity instruments	114	(27)
Tax effect	(40)	(149)
Currency translation adjustment generated by the parent company	(11,776)	(5,302)
Items not potentially reclassifiable to profit and loss	(11,515)	(5,032)
Currency translation adjustment	5,406	3,037
Cash flow hedge	4,217	504
Variation of foreign currency basis spread	79	(2)
share of other comprehensive income of equity affiliates, net amount	2,655	635
Other	(19)	1
Tax effect	(1,483)	(157)
Items potentially reclassifiable to profit and loss	10,855	4,018
Total other comprehensive income (net amount)	(660)	(1,014)

Comprehensive income	16,943	9,449
TotalEnergies share	16,627	9,226
Non-controlling interests	316	223

	September 30, 2022	June 30, 2022	December 31, 2021	September 30, 2021

(M$)	(unaudited)	(unaudited)		(unaudited)

ASSETS

Non-current assets
Intangible assets, net	36,376	37,020	32,484	32,895
Property, plant and equipment, net	99,700	101,454	106,559	105,902
Equity affiliates : investments and loans	28,743	28,210	31,053	30,467
Other investments	1,149	1,383	1,625	1,688
Non-current financial assets	2,341	1,612	2,404	2,799
Deferred income taxes	4,434	4,737	5,400	6,452
Other non-current assets	2,930	3,075	2,797	2,530
Total non-current assets	175,673	177,491	182,322	182,733

Current assets
Inventories, net	24,420	28,542	19,952	19,601
Accounts receivable, net	28,191	30,796	21,983	19,865
Other current assets	73,453	55,553	35,144	39,967
Current financial assets	11,688	7,863	12,315	3,910
Cash and cash equivalents	35,941	32,848	21,342	28,971
Assets classified as held for sale	349	313	400	633
Total current assets	174,042	155,915	111,136	112,947
Total assets	349,715	333,406	293,458	295,680

LIABILITIES & SHAREHOLDERS' EQUITY

Shareholders' equity
Common shares	8,163	8,163	8,224	8,224
Paid-in surplus and retained earnings	131,382	125,554	117,849	113,795
Currency translation adjustment	(16,720)	(14,019)	(12,671)	(11,995)
Treasury shares	(5,004)	(3,010)	(1,666)	(8)
Total shareholders' equity - TotalEnergies share	117,821	116,688	111,736	110,016
Non-controlling interests	2,851	3,309	3,263	3,211
Total shareholders' equity	120,672	119,997	114,999	113,227

Non-current liabilities
Deferred income taxes	12,576	12,169	10,904	11,161
Employee benefits	2,207	2,341	2,672	3,218
Provisions and other non-current liabilities	22,133	23,373	20,269	20,355
Non-current financial debt	44,899	46,868	49,512	50,810
Total non-current liabilities	81,815	84,751	83,357	85,544

Current liabilities
Accounts payable	48,942	49,700	36,837	34,149
Other creditors and accrued liabilities	80,468	62,498	42,800	45,476
Current borrowings	16,923	16,003	15,035	16,471
Other current financial liabilities	861	401	372	504
Liabilities directly associated with the assets classified as held for sale	34	56	58	309
Total current liabilities	147,228	128,658	95,102	96,909
Total liabilities & shareholders' equity	349,715	333,406	293,458	295,680

	3^rd quarter	2^nd quarter	3^rd quarter
(M$)	2022	2022	2021

CASH FLOW FROM OPERATING ACTIVITIES

Consolidated net income	6,748	5,804	4,752
Depreciation, depletion, amortization and impairment	3,032	3,321	3,361
Non-current liabilities, valuation allowances and deferred taxes	704	1,427	479
(Gains) losses on disposals of assets	(1,645)	(165)	100
Undistributed affiliates' equity earnings	1,290	2,999	(506)
(Increase) decrease in working capital	7,407	2,498	(2,698)
Other changes, net	312	400	152
Cash flow from operating activities	17,848	16,284	5,640

CASH FLOW USED IN INVESTING ACTIVITIES

Intangible assets and property, plant and equipment additions	(2,986)	(5,150)	(2,718)
Acquisitions of subsidiaries, net of cash acquired	(8)	(82)	(23)
Investments in equity affiliates and other securities	(2,557)	(136)	(67)
Increase in non-current loans	(246)	(278)	(219)
Total expenditures	(5,797)	(5,646)	(3,027)
Proceeds from disposals of intangible assets and property, plant and equipment	97	153	150
Proceeds from disposals of subsidiaries, net of cash sold	524	63	4
Proceeds from disposals of non-current investments	304	35	177
Repayment of non-current loans	797	413	240
Total divestments	1,722	664	571
Cash flow used in investing activities	(4,075)	(4,982)	(2,456)

CASH FLOW USED IN FINANCING ACTIVITIES

Issuance (repayment) of shares:
- Parent company shareholders	(1)	371	-
- Treasury shares	(1,996)	(1,988)	-
Dividends paid:
- Parent company shareholders	(1,877)	(1,825)	(2,053)
- Non-controlling interests	(405)	(97)	(41)
Net issuance (repayment) of perpetual subordinated notes	-	(1,958)	-
Payments on perpetual subordinated notes	(14)	(138)	(22)
Other transactions with non-controlling interests	38	(10)	721
Net issuance (repayment) of non-current debt	141	508	133
Increase (decrease) in current borrowings	(527)	(2,703)	(1,457)
Increase (decrease) in current financial assets and liabilities	(4,473)	(731)	513
Cash flow from (used in) financing activities	(9,114)	(8,571)	(2,206)
Net increase (decrease) in cash and cash equivalents	4,659	2,731	978
Effect of exchange rates	(1,566)	(1,159)	(650)
Cash and cash equivalents at the beginning of the period	32,848	31,276	28,643
Cash and cash equivalents at the end of the period	35,941	32,848	28,971

	Common shares issued		Paid-in	Currency	Treasury shares		Shareholders’	Non-	Total
			surplus and	translation			equity -	controlling	shareholders’
			retained	adjustment			TotalEnergies	interests	equity
(M$)	Number	Amount	earnings		Number	Amount	Share
As of January 1, 2021	2,653,124,025	8,267	107,078	(10,256)	(24,392,703)	(1,387)	103,702	2,383	106,085
Net income of the first nine months 2021	-	-	10,195	-	-	-	10,195	268	10,463
Other comprehensive income	-	-	762	(1,731)	-	-	(969)	(45)	(1,014)
Comprehensive Income	-	-	10,957	(1,731)	-	-	9,226	223	9,449
Dividend	-	-	(6,236)	-	-	-	(6,236)	(104)	(6,340)
Issuance of common shares	10,589,713	31	350	-	-	-	381	-	381
Purchase of treasury shares	-	-	-	-	(3,636,351)	(165)	(165)	-	(165)
Sale of treasury shares^(a)	-	-	(216)	-	4,571,235	216	-	-	-
Share-based payments	-	-	103	-	-	-	103	-	103
Share cancellation	(23,284,409)	(74)	(1,254)	-	23,284,409	1,328	-	-	-
Net issuance (repayment) of perpetual subordinated notes	-	-	3,254	-	-	-	3,254	-	3,254
Payments on perpetual subordinated notes	-	-	(278)	-	-	-	(278)	-	(278)
Other operations with non-controlling interests	-	-	26	(6)	-	-	20	701	721
Other items	-	-	11	(2)	-	-	9	8	17
As of September 30, 2021	2,640,429,329	8,224	113,795	(11,995)	(173,410)	(8)	110,016	3,211	113,227
Net income of the fourth quarter 2021	-	-	5,837	-	-	-	5,837	66	5,903
Other comprehensive income	-	-	229	(676)	-	-	(447)	15	(432)
Comprehensive Income	-	-	6,066	(676)	-	-	5,390	81	5,471
Dividend	-	-	(1,964)	-	-	-	(1,964)	(20)	(1,984)
Issuance of common shares	-	-	-	-	-	-	-	-	-
Purchase of treasury shares	-	-	-	-	(33,669,654)	(1,658)	(1,658)	-	(1,658)
Sale of treasury shares^(a)	-	-	-	-	1,960	-	-	-	-
Share-based payments	-	-	40	-	-	-	40	-	40
Share cancellation	-	-	-	-	-	-	-	-	-
Net issuance (repayment) of perpetual subordinated notes	-	-	-	-	-	-	-	-	-
Payments on perpetual subordinated notes	-	-	(90)	-	-	-	(90)	-	(90)
Other operations with non-controlling interests	-	-	4	-	-	-	4	(12)	(8)
Other items	-	-	(2)	-	-	-	(2)	3	1
As of December 31, 2021	2,640,429,329	8,224	117,849	(12,671)	(33,841,104)	(1,666)	111,736	3,263	114,999
Net income of the first nine months 2022	-	-	17,262	-	-	-	17,262	341	17,603
Other comprehensive income	-	-	3,421	(4,056)	-	-	(635)	(25)	(660)
Comprehensive Income	-	-	20,683	(4,056)	-	-	16,627	316	16,943
Dividend	-	-	(5,653)	-	-	-	(5,653)	(524)	(6,177)
Issuance of common shares	9,367,482	26	344	-	-	-	370	-	370
Purchase of treasury shares	-	-	-	-	(97,376,124)	(5,160)	(5,160)	-	(5,160)
Sale of treasury shares^(a)	-	-	(317)	-	6,193,921	317	-	-	-
Share-based payments	-	-	191	-	-	-	191	-	191
Share cancellation	(30,665,526)	(87)	(1,418)	-	30,665,526	1,505	-	-	-
Net issuance (repayment) of perpetual subordinated notes	-	-	(44)	-	-	-	(44)	-	(44)
Payments on perpetual subordinated notes	-	-	(255)	-	-	-	(255)	-	(255)
Other operations with non-controlling interests	-	-	41	7	-	-	48	124	172
Other items	-	-	(39)	-	-	-	(39)	(328)	(367)
As of September 30, 2022	2,619,131,285	8,163	131,382	(16,720)	(94,357,781)	(5,004)	117,821	2,851	120,672


9 months 2022 (M$)	Integrated Gas, Renewables & Power	Exploration & Production	Refining & Chemicals	Marketing & Services	Corporate	Intercompany	Total
External sales	34,070	7,342	94,968	76,024	13	-	212,417
Intersegment sales	5,113	42,324	34,127	1,159	185	(82,908)	-
Excise taxes	-	-	(538)	(12,522)	-	-	(13,060)
Revenues from sales	39,183	49,666	128,557	64,661	198	(82,908)	199,357
Operating expenses	(33,277)	(18,348)	(119,790)	(61,807)	(1,063)	82,908	(151,377)
Depreciation, depletion and impairment of tangible assets and mineral interests	(943)	(6,772)	(1,140)	(757)	(104)	-	(9,716)
Operating income	4,963	24,546	7,627	2,097	(969)	-	38,264
Net income (loss) from equity affiliates and other items	1,513	(6,069)	724	42	175	-	(3,615)
Tax on net operating income	(1,331)	(12,810)	(1,646)	(674)	259	-	(16,202)
Net operating income	5,145	5,667	6,705	1,465	(535)	-	18,447
Net cost of net debt							(844)
Non-controlling interests							(341)
Net income - TotalEnergies share							17,262

9 months 2022 (adjustments)^(a) (M$)	Integrated Gas, Renewables & Power	Exploration & Production	Refining & Chemicals	Marketing & Services	Corporate	Intercompany	Total
External sales	35	-	-	-	-	-	35
Intersegment sales	-	-	-	-	-	-	-
Excise taxes	-	-	-	-	-	-	-
Revenues from sales	35	-	-	-	-	-	35
Operating expenses	(1,014)	(877)	951	411	(512)	-	(1,041)
Depreciation, depletion and impairment of tangible assets and mineral interests	(14)	(546)	-	(35)	(9)	-	(604)
Operating income ^(b)	(993)	(1,423)	951	376	(521)	-	(1,610)
Net income (loss) from equity affiliates and other items	(3,182)	(6,900)	69	(14)	106	-	(9,921)
Tax on net operating income	65	39	(130)	(113)	118	-	(21)
Net operating income ^(b)	(4,110)	(8,284)	890	249	(297)	-	(11,552)
Net cost of net debt							269
Non-controlling interests							(91)
Net income - TotalEnergies share							(11,374)

^(a)Adjustments include special items, inventory valuation effect and the effect of changes in fair value.
^(b)Of which inventory valuation effect
- On operating income	-	-	951	445	-
- On net operating income	-	-	922	331	-

9 months 2022 (adjusted) (M$)	Integrated Gas, Renewables & Power	Exploration & Production	Refining & Chemicals	Marketing & Services	Corporate	Intercompany	Total
External sales	34,035	7,342	94,968	76,024	13	-	212,382
Intersegment sales	5,113	42,324	34,127	1,159	185	(82,908)	-
Excise taxes	-	-	(538)	(12,522)	-	-	(13,060)
Revenues from sales	39,148	49,666	128,557	64,661	198	(82,908)	199,322
Operating expenses	(32,263)	(17,471)	(120,741)	(62,218)	(551)	82,908	(150,336)
Depreciation, depletion and impairment of tangible assets and mineral interests	(929)	(6,226)	(1,140)	(722)	(95)	-	(9,112)
Adjusted operating income	5,956	25,969	6,676	1,721	(448)	-	39,874
Net income (loss) from equity affiliates and other items	4,695	831	655	56	69	-	6,306
Tax on net operating income	(1,396)	(12,849)	(1,516)	(561)	141	-	(16,181)
Adjusted net operating income	9,255	13,951	5,815	1,216	(238)	-	29,999
Net cost of net debt							(1,113)
Non-controlling interests							(250)
Adjusted net income - TotalEnergies share							28,636

9 months 2021	Integrated Gas,	Exploration	Refining	Marketing
(M$)	Renewables & Power	& Production	& Chemicals	& Services	Corporate	Intercompany	Total
External sales	19,070	5,178	62,819	58,434	14	-	145,515
Intersegment sales	2,794	23,021	18,921	296	106	(45,138)	-
Excise taxes	-	-	(870)	(15,309)	-	-	(16,179)
Revenues from sales	21,864	28,199	80,870	43,421	120	(45,138)	129,336
Operating expenses	(18,823)	(11,310)	(76,732)	(40,812)	(553)	45,138	(103,092)
Depreciation, depletion and impairment of tangible assets and mineral interests	(1,105)	(6,473)	(1,184)	(793)	(82)	-	(9,637)
Operating income	1,936	10,416	2,954	1,816	(515)	-	16,607
Net income (loss) from equity affiliates and other items	1,464	(834)	290	25	13	-	958
Tax on net operating income	(365)	(4,382)	(834)	(574)	77	-	(6,078)
Net operating income	3,035	5,200	2,410	1,267	(425)	-	11,487
Net cost of net debt							(1,024)
Non-controlling interests							(268)
Net income - TotalEnergies share							10,195

9 months 2021 (adjustments)^(a)	Integrated Gas,	Exploration	Refining	Marketing
(M$)	Renewables & Power	& Production	& Chemicals	& Services	Corporate	Intercompany	Total
External sales	(44)	-	-	-	-	-	(44)
Intersegment sales	-	-	-	-	-	-	-
Excise taxes	-	-	-	-	-	-	-
Revenues from sales	(44)	-	-	-	-	-	(44)
Operating expenses	(214)	(55)	1,432	257	-	-	1,420
Depreciation, depletion and impairment of tangible assets and mineral interests	(155)	-	(25)	-	-	-	(180)
Operating income ^(b)	(413)	(55)	1,407	257	-	-	1,196
Net income (loss) from equity affiliates and other items	(99)	(1,728)	33	(55)	(60)	-	(1,909)
Tax on net operating income	63	69	(386)	(74)	2	-	(326)
Net operating income ^(b)	(449)	(1,714)	1,054	128	(58)	-	(1,039)
Net cost of net debt							15
Non-controlling interests							(16)
Net income - TotalEnergies share							(1,040)

9 months 2021 (adjusted)	Integrated Gas,	Exploration	Refining	Marketing
(M$)	Renewables & Power	& Production	& Chemicals	& Services	Corporate	Intercompany	Total
External sales	19,114	5,178	62,819	58,434	14	-	145,559
Intersegment sales	2,794	23,021	18,921	296	106	(45,138)	-
Excise taxes	-	-	(870)	(15,309)	-	-	(16,179)
Revenues from sales	21,908	28,199	80,870	43,421	120	(45,138)	129,380
Operating expenses	(18,609)	(11,255)	(78,164)	(41,069)	(553)	45,138	(104,512)
Depreciation, depletion and impairment of tangible assets and mineral interests	(950)	(6,473)	(1,159)	(793)	(82)	-	(9,457)
Adjusted operating income	2,349	10,471	1,547	1,559	(515)	-	15,411
Net income (loss) from equity affiliates and other items	1,563	894	257	80	73	-	2,867
Tax on net operating income	(428)	(4,451)	(448)	(500)	75	-	(5,752)
Adjusted net operating income	3,484	6,914	1,356	1,139	(367)	-	12,526
Net cost of net debt							(1,039)
Non-controlling interests							(252)
Adjusted net income - TotalEnergies share							11,235

3^rdquarter 2022	Integrated Gas,	Exploration	Refining	Marketing
(M$)	Renewables & Power	& Production	& Chemicals	& Services	Corporate	Intercompany	Total
External sales	11,495	2,670	28,899	25,968	5	-	69,037
Intersegment sales	1,753	14,701	12,065	176	52	(28,747)	-
Excise taxes	-	-	(160)	(3,915)	-	-	(4,075)
Revenues from sales	13,248	17,371	40,804	22,229	57	(28,747)	64,962
Operating expenses	(10,648)	(6,880)	(39,137)	(21,513)	(213)	28,747	(49,644)
Depreciation, depletion and impairment of tangible assets and mineral interests	(295)	(1,999)	(371)	(243)	(27)	-	(2,935)
Operating income	2,305	8,492	1,296	473	(183)	-	12,383
Net income (loss) from equity affiliates and other items	3,190	(2,643)	219	(14)	(4)	-	748
Tax on net operating income	(777)	(5,071)	(255)	(153)	162	-	(6,094)
Net operating income	4,718	778	1,260	306	(25)	-	7,037
Net cost of net debt							(289)
Non-controlling interests							(122)
Net income - TotalEnergies share							6,626

3^rdquarter 2022 (adjustments)^(a)	Integrated Gas,	Exploration	Refining	Marketing
(M$)	Renewables & Power	& Production	& Chemicals	& Services	Corporate	Intercompany	Total
External sales	38	-	-	-	-	-	38
Intersegment sales	-	-	-	-	-	-	-
Excise taxes	-	-	-	-	-	-	-
Revenues from sales	38	-	-	-	-	-	38
Operating expenses	(291)	(4)	(771)	(230)	(79)	-	(1,375)
Depreciation, depletion and impairment of tangible assets and mineral interests	-	(7)	-	(2)	-	-	(9)
Operating income ^(b)	(253)	(11)	(771)	(232)	(79)	-	(1,346)
Net income (loss) from equity affiliates and other items	1,315	(3,130)	(100)	(7)	-	-	(1,922)
Tax on net operating income	7	(298)	196	67	20	-	(8)
Net operating income ^(b)	1,069	(3,439)	(675)	(172)	(59)	-	(3,276)
Net cost of net debt							76
Non-controlling interests							(37)
Net income - TotalEnergies share							(3,237)

^(a)Adjustments include special items, inventory valuation effect and the effect of changes in fair value.
^(b)Of which inventory valuation effect
- On operating income	-	-	(771)	(239)	-
- On net operating income	-	-	(675)	(172)	-