XML 71 R41.htm IDEA: XBRL DOCUMENT
v3.24.1

Other Long-Term Liabilities (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Subclassifications of assets, liabilities and equities [abstract] |
Disclosure of Other Long-term Liabilities |
|  | 2023 |  | 2022
Asset retirement obligations |  | $ | 7,690 |  |  | $ | 6,908 |
Lease liabilities (note 8) |  | 1,555 |  |  | 1,540 |
Share-based compensation |  | 780 |  |  | 832 |
Transportation and processing contracts (1) |  | 87 |  |  | 159 |
Risk management (note 19) |  | 4 |  |  | 3 |
Other |  | 73 |  |  | 92 |
|  | 10,189 |  |  | 9,534 |
Less: current portion |  | 1,503 |  |  | 1,373 |
|  | $ | 8,686 |  |  | $ | 8,161 |
(1)Product transportation and processing obligations assumed from acquisitions in prior years (note 7).
Summary of Asset Retirement Obligations | Reconciliations of the discounted asset retirement obligations were as follows:
|  | 2023 |  | 2022 |  | 2021
Balance – beginning of year |  | $ | 6,908 |  |  | $ | 6,806 |  |  | $ | 5,861 |
Liabilities incurred |  | 25 |  |  | 20 |  |  | 5 |
Liabilities acquired, net |  | — |  |  | 11 |  |  | 76 |
Liabilities settled |  | (509) |  |  | (449) |  |  | (307) |
Asset retirement obligation accretion |  | 366 |  |  | 281 |  |  | 185 |
Revision of cost, inflation and timing estimates (1) |  | 621 |  |  | 897 |  |  | 508 |
Impact of regulatory changes (2) |  | — |  |  | 982 |  |  | 1,208 |
Change in discount rates |  | 314 |  |  | (1,698) |  |  | (723) |
Foreign exchange adjustments |  | (35) |  |  | 58 |  |  | (7) |
Balance – end of year |  | 7,690 |  |  | 6,908 |  |  | 6,806 |
Less: current portion |  | 634 |  |  | 495 |  |  | 249 |
|  | $ | 7,056 |  |  | $ | 6,413 |  |  | $ | 6,557 |
(1)Includes normal course revisions of cost, inflation and timing estimates, as well as revisions related to the acceleration of the abandonment and subsequent cost estimate increases on future abandonment at the Ninian field in the North Sea in 2022 and 2023. (2)Reflects changes to the estimated timing of settlement of the Company's asset retirement obligations due to provincial regulatory changes in Alberta, British Columbia and Saskatchewan in 2022 and 2021. Segmented Asset Retirement Obligations
|  | 2023 |  | 2022
Exploration and Production |  |  |  |
North America |  | $ | 4,471 |  |  | $ | 4,326 |
North Sea |  | 1,441 |  |  | 1,011 |
Offshore Africa |  | 165 |  |  | 143 |
Oil Sands Mining and Upgrading |  | 1,612 |  |  | 1,427 |
Midstream and Refining |  | 1 |  |  | 1 |
|  | $ | 7,690 |  |  | $ | 6,908 |
Summary of Share-based Compensation Liability | The current portion of the liability represents the maximum amount of the liability payable within the next twelve month period if all vested stock options and PSUs are settled in cash.
|  | 2023 |  | 2022 |  | 2021
Balance – beginning of year |  | $ | 832 |  |  | $ | 489 |  |  | $ | 160 |
Share-based compensation expense |  | 491 |  |  | 804 |  |  | 514 |
Cash payment for stock options surrendered and PSUs vested |  | (110) |  |  | (79) |  |  | (48) |
Transferred to common shares |  | (435) |  |  | (387) |  |  | (139) |
Other |  | 2 |  |  | 5 |  |  | 2 |
Balance – end of year |  | 780 |  |  | 832 |  |  | 489 |
Less: current portion |  | 538 |  |  | 559 |  |  | 329 |
|  | $ | 242 |  |  | $ | 273 |  |  | $ | 160 |
Disclosure of Weighted Average Assumptions Used | The fair value of stock options outstanding was estimated using the Black-Scholes valuation model with the following weighted average assumptions:
|  | 2023 |  | 2022 |  | 2021
Fair value |  | $ | 35.93 |  |  | $ | 32.96 |  |  | $ | 16.98 |
Share price |  | $ | 86.81 |  |  | $ | 75.19 |  |  | $ | 53.45 |
Expected volatility |  | 30.9% |  | 35.8% |  | 35.5%
Expected dividend yield |  | 4.6% |  | 4.5% |  | 4.4%
Risk free interest rate |  | 3.6% |  | 3.8% |  | 1.1%
Expected forfeiture rate |  | 5.4% |  | 5.0% |  | 4.7%
Expected stock option life (1) |  | 4.2 years |  | 4.2 years |  | 4.2 years
(1)At original time of grant.

X
- Definition Disclosure Of Detailed Information About Decommissioning, Restoration And Rehabilitation Costs Explanatory [Table Text Block] + References No definition available. + Details
Name: | cnq_DisclosureOfDetailedInformationAboutDecommissioningRestorationAndRehabilitationCostsExplanatoryTableTextBlock
Namespace Prefix: | cnq_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure Of Detailed Information About Non-Current Liabilities Explanatory [Table Text Block] + References No definition available. + Details
Name: | cnq_DisclosureOfDetailedInformationAboutNonCurrentLiabilitiesExplanatoryTableTextBlock
Namespace Prefix: | cnq_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Additional information about share-based payment arrangements necessary to satisfy the disclosure requirements of IFRS 2. [Refer: Share-based payment arrangements [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 2 -IssueDate 2023-01-01 -Paragraph 52 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=2&code=ifrs-tx-2023-en-r&anchor=para_52&doctype=Standard -URIDate 2023-03-23 + Details
Name: | ifrs-full_AdditionalInformationAboutSharebasedPaymentArrangements
Namespace Prefix: | ifrs-full_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of information about indirect, by reference to the fair value of the equity instruments granted, measurement of the fair value of goods or services received as consideration for the entity's share options. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 2 -IssueDate 2023-01-01 -Paragraph 47 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=2&code=ifrs-tx-2023-en-r&anchor=para_47_a&doctype=Standard -URIDate 2023-03-23 + Details
Name: | ifrs-full_DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedShareOptionsGrantedDuringPeriodExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | ifrs-full_SubclassificationsOfAssetsLiabilitiesAndEquitiesAbstract
Namespace Prefix: | ifrs-full_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration