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RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Fair Value of Derivatives (Details) - CAD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022
--- | --- | ---
Fair Value of Derivatives |  |
Total net financial asset/(liability) | $ (561) | $ (546)
Fair Value |  |
Fair Value of Derivatives |  |
Current derivative assets | 532 | 1,015
Long-term derivative assets | 479 | 627
Current derivative liabilities | (399) | (898)
Long-term derivative liabilities | (1,173) | (1,290)
Total net financial asset/(liability) | (561) | (546)
Foreign exchange contracts |  |
Fair Value of Derivatives |  |
Total net financial asset/(liability) | (775) | (1,327)
Foreign exchange contracts | Fair Value |  |
Fair Value of Derivatives |  |
Current derivative assets | 122 | 46
Long-term derivative assets | 214 | 309
Current derivative liabilities | (131) | (566)
Long-term derivative liabilities | (980) | (1,116)
Total net financial asset/(liability) | (775) | (1,327)
Interest rate contracts |  |
Fair Value of Derivatives |  |
Total net financial asset/(liability) | 344 | 910
Interest rate contracts | Fair Value |  |
Fair Value of Derivatives |  |
Current derivative assets | 215 | 660
Long-term derivative assets | 198 | 254
Current derivative liabilities | (20) |
Long-term derivative liabilities | (49) | (4)
Total net financial asset/(liability) | 344 | 910
Commodity contracts |  |
Fair Value of Derivatives |  |
Total net financial asset/(liability) | (132) | (139)
Commodity contracts | Fair Value |  |
Fair Value of Derivatives |  |
Current derivative assets | 193 | 302
Long-term derivative assets | 67 | 61
Current derivative liabilities | (248) | (332)
Long-term derivative liabilities | (144) | (170)
Total net financial asset/(liability) | (132) | (139)
Other contracts |  |
Fair Value of Derivatives |  |
Total net financial asset/(liability) | 2 | 10
Other contracts | Fair Value |  |
Fair Value of Derivatives |  |
Current derivative assets | 2 | 7
Long-term derivative assets |  | 3
Total net financial asset/(liability) | 2 | 10
Level 1 | Fair Value |  |
Fair Value of Derivatives |  |
Current derivative assets | 46 | 65
Long-term derivative assets | 0 | 0
Current derivative liabilities | (36) | (60)
Long-term derivative liabilities | 0 | 0
Total net financial asset/(liability) | 10 | 5
Level 1 | Foreign exchange contracts | Fair Value |  |
Fair Value of Derivatives |  |
Current derivative assets | 0 | 0
Long-term derivative assets | 0 | 0
Current derivative liabilities | 0 | 0
Long-term derivative liabilities | 0 | 0
Total net financial asset/(liability) | 0 | 0
Level 1 | Interest rate contracts | Fair Value |  |
Fair Value of Derivatives |  |
Current derivative assets | 0 | 0
Long-term derivative assets | 0 | 0
Current derivative liabilities | 0 |
Long-term derivative liabilities | 0 | 0
Total net financial asset/(liability) | 0 | 0
Level 1 | Commodity contracts | Fair Value |  |
Fair Value of Derivatives |  |
Current derivative assets | 46 | 65
Long-term derivative assets | 0 | 0
Current derivative liabilities | (36) | (60)
Long-term derivative liabilities | 0 | 0
Total net financial asset/(liability) | 10 | 5
Level 1 | Other contracts | Fair Value |  |
Fair Value of Derivatives |  |
Current derivative assets | 0 | 0
Long-term derivative assets |  | 0
Total net financial asset/(liability) | 0 | 0
Level 2 | Fair Value |  |
Fair Value of Derivatives |  |
Current derivative assets | 402 | 803
Long-term derivative assets | 429 | 583
Current derivative liabilities | (199) | (643)
Long-term derivative liabilities | (1,055) | (1,158)
Total net financial asset/(liability) | (423) | (415)
Level 2 | Foreign exchange contracts | Fair Value |  |
Fair Value of Derivatives |  |
Current derivative assets | 122 | 46
Long-term derivative assets | 214 | 309
Current derivative liabilities | (131) | (566)
Long-term derivative liabilities | (980) | (1,116)
Total net financial asset/(liability) | (775) | (1,327)
Level 2 | Interest rate contracts | Fair Value |  |
Fair Value of Derivatives |  |
Current derivative assets | 215 | 660
Long-term derivative assets | 198 | 254
Current derivative liabilities | (20) |
Long-term derivative liabilities | (49) | (4)
Total net financial asset/(liability) | 344 | 910
Level 2 | Commodity contracts | Fair Value |  |
Fair Value of Derivatives |  |
Current derivative assets | 63 | 90
Long-term derivative assets | 17 | 17
Current derivative liabilities | (48) | (77)
Long-term derivative liabilities | (26) | (38)
Total net financial asset/(liability) | 6 | (8)
Level 2 | Other contracts | Fair Value |  |
Fair Value of Derivatives |  |
Current derivative assets | 2 | 7
Long-term derivative assets |  | 3
Total net financial asset/(liability) | 2 | 10
Level 3 |  |
Fair Value of Derivatives |  |
Total net financial asset/(liability) | (148) |
Level 3 | Fair Value |  |
Fair Value of Derivatives |  |
Current derivative assets | 84 | 147
Long-term derivative assets | 50 | 44
Current derivative liabilities | (164) | (195)
Long-term derivative liabilities | (118) | (132)
Total net financial asset/(liability) | (148) | (136)
Level 3 | Foreign exchange contracts | Fair Value |  |
Fair Value of Derivatives |  |
Current derivative assets | 0 | 0
Long-term derivative assets | 0 | 0
Current derivative liabilities | 0 | 0
Long-term derivative liabilities | 0 | 0
Total net financial asset/(liability) | 0 | 0
Level 3 | Interest rate contracts | Fair Value |  |
Fair Value of Derivatives |  |
Current derivative assets | 0 | 0
Long-term derivative assets | 0 | 0
Current derivative liabilities | 0 |
Long-term derivative liabilities | 0 | 0
Total net financial asset/(liability) | 0 | 0
Level 3 | Commodity contracts | Fair Value |  |
Fair Value of Derivatives |  |
Current derivative assets | 84 | 147
Long-term derivative assets | 50 | 44
Current derivative liabilities | (164) | (195)
Long-term derivative liabilities | (118) | (132)
Total net financial asset/(liability) | (148) | (136)
Level 3 | Other contracts | Fair Value |  |
Fair Value of Derivatives |  |
Current derivative assets | 0 | 0
Long-term derivative assets |  | 0
Total net financial asset/(liability) | $ 0 | $ 0

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- Definition Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset, expected to be settled within one year or normal operating cycle, if longer. Includes assets not subject to a master netting arrangement and not elected to be offset. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312 + Details
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