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Consolidated Statements of Cash Flows - CAD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating activities      
Net earnings (loss) $ 10,937 $ 7,664 $ (435)
Non-cash items      
Depletion, depreciation and amortization 7,353 5,724 6,046
Share-based compensation 804 514 (82)
Asset retirement obligation accretion 281 185 205
Unrealized risk management (gain) loss (28) 19 (39)
Unrealized foreign exchange loss (gain) 852 (205) (116)
Gain on acquisitions 0 (478) (217)
(Gain) loss from investments (182) (132) 185
Deferred income tax (recovery) expense (139) 399 (181)
Realized foreign exchange (gain) loss [1] (62) 118 (166)
Proceeds on settlement of cross currency swap 89 0 0
Other (144) 13 (71)
Abandonment expenditures (449) (307) (249)
Net change in non-cash working capital 79 964 (166)
Cash flows from operating activities 19,391 14,478 4,714
Financing activities      
(Repayment) issue of bank credit facilities and commercial paper, net (1,156) (6,151) 338
Repayment of medium-term notes (1,498) 0 (1,100)
(Repayment) issue of US dollar debt securities (1,356) (628) 1,481
Settlement of long-term debt acquired 0 (183) (397)
Proceeds on settlement of cross currency swap 69 0 166
Payment of lease liabilities (232) (209) (225)
Issue of common shares on exercise of stock options 442 707 108
Dividends on common shares (4,926) (2,170) (1,950)
Purchase of common shares under Normal Course Issuer Bid (5,571) (1,581) (271)
Cash flows used in financing activities (14,228) (10,215) (1,850)
Investing activities      
Net expenditures on exploration and evaluation assets (33) (1) (5)
Net expenditures on property, plant and equipment (5,103) (4,492) (2,555)
Proceeds from investment 0 128 0
Repayment of North West Redwater Partnership subordinated debt advances 0 555 124
Net change in non-cash working capital 149 107 (383)
Cash flows used in investing activities (4,987) (3,703) (2,819)
Increase in cash and cash equivalents 176 560 45
Cash and cash equivalents – beginning of year 744 184 139
Cash and cash equivalents – end of year 920 744 184
Interest paid on long-term debt, net 613 672 745
Income taxes paid (received) $ 3,057 $ (62) $ (29)
[1] Consists of the realized foreign exchange gain on settlement of cross currency swaps in 2022 and 2020, and the realized foreign exchange loss on repayment of US dollar debt securities in 2022 and 2021.