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v3.25.1

Consolidated Statements of Earnings - CAD ($) $ in Millions | 12 Months Ended
--- | ---
Dec. 31, 2024 | Dec. 31, 2023 | Dec. 31, 2022
Profit or loss [abstract] |  |  |  |
Product sales |  | $ 41,509 | $ 40,835 | $ 49,530
Less: royalties |  | (5,853) | (4,867) | (7,232)
Revenue |  | 35,656 | 35,968 | 42,298
Expenses |  |  |  |
Production |  | 8,093 | 8,480 | 8,712
Transportation, blending and feedstock |  | 9,984 | 9,302 | 9,973
Depletion, depreciation and amortization |  | 6,681 | 6,413 | 7,353
Administration |  | 503 | 452 | 415
Share-based compensation |  | 279 | 491 | 804
Asset retirement obligation accretion |  | 389 | 366 | 281
Interest and other financing expense |  | 592 | 636 | 549
Risk management loss (gain) |  | 177 | (2) | (35)
Foreign exchange loss (gain) |  | 955 | (279) | 738
Gain from investments |  | (56) | (56) | (196)
Total expenses |  | 27,597 | 25,803 | 28,594
Earnings before taxes |  | 8,059 | 10,165 | 13,704
Current income tax expense |  | 1,531 | 1,879 | 2,906
Deferred income tax expense (recovery) |  | 422 | 53 | (139)
Net earnings |  | $ 6,106 | $ 8,233 | $ 10,937
Net earnings per common share |  |  |  |
Net earnings per common share - basic (in CAD per share) | [1] | $ 2.87 | $ 3.77 | $ 4.82
Net earnings per common share - diluted (in CAD per share) | [1] | $ 2.85 | $ 3.74 | $ 4.76
[1] | Common share, per common share, dividend, and stock option amounts have been updated to reflect the two for one common share split (note 1).

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