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Leases (Tables) | 12 Months Ended
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Dec. 31, 2024
Disclosure of leases [Abstract] |
Schedule of Lease Assets |
| Product transportation and storage |  | Field equipment and power |  | Offshore vessels and equipment |  | Office leases and other |  | Total
At December 31, 2022 | $ | 912 |  |  | $ | 377 |  |  | $ | 97 |  |  | $ | 61 |  |  | $ | 1,447 |
Additions | 27 |  |  | 218 |  |  | 49 |  |  | 23 |  |  | 317 |
Depreciation | (98) |  |  | (111) |  |  | (45) |  |  | (19) |  |  | (273) |
Foreign exchange adjustments and other | (1) |  |  | (2) |  |  | (30) |  |  | — |  |  | (33) |
At December 31, 2023 | 840 |  |  | 482 |  |  | 71 |  |  | 65 |  |  | 1,458 |
Additions | 5 |  |  | 118 |  |  | 40 |  |  | 68 |  |  | 231 |
Depreciation | (96) |  |  | (135) |  |  | (51) |  |  | (20) |  |  | (302) |
Foreign exchange adjustments and other | 3 |  |  | 3 |  |  | 4 |  |  | (3) |  |  | 7 |
At December 31, 2024 | $ | 752 |  |  | $ | 468 |  |  | $ | 64 |  |  | $ | 110 |  |  | $ | 1,394 |
LEASE ASSETS, BY SEGMENT As at December 31, 2024 and 2023, the Company had the following lease assets by segment:
|  | 2024 |  | 2023 |  |
Exploration and Production |  |  |  |  |  |
North America |  | $ | 257 |  |  | $ | 280 |  |  |
North Sea |  | 25 |  |  | 18 |  |  |
Offshore Africa |  | 93 |  |  | 119 |  |  |
Oil Sands Mining and Upgrading |  | 932 |  |  | 1,001 |  |  |
Head Office |  | 87 |  |  | 40 |  |  |
|  | $ | 1,394 |  |  | $ | 1,458 |  |  |
Schedule of Lease Liabilities | Lease liabilities at December 31, 2024 and 2023, were as follows:
|  | 2024 |  | 2023 |  |
Lease liabilities |  | $ | 1,464 |  |  | $ | 1,555 |  |  |
Less: current portion |  | 255 |  |  | 298 |  |  |
|  | $ | 1,209 |  |  | $ | 1,257 |  |  |
Schedule of Leases Impact on Net Earnings and Cash Flow | Other amounts included in net earnings and cash flows during 2024 and 2023 are provided below:
|  | 2024 |  | 2023 |  |
Expenses relating to short-term leases (1) |  | $ | 337 |  |  | $ | 403 |  |  |
Interest expense on lease liabilities |  | $ | 69 |  |  | $ | 64 |  |  |
Variable lease payments not included in the measurement of lease liabilities |  | $ | 59 |  |  | $ | 59 |  |  |
Total cash outflows for leases (2) |  | $ | 1,333 |  |  | $ | 1,325 |  |  |
(1)During 2024, the Company capitalized $543 million (2023 – $514 million) of short-term leases as additions to property, plant and equipment. (2)Comprised of cash outflows relating to lease liabilities, short-term leases, and variable lease payments.

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