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Segmented Information | 12 Months Ended
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Dec. 31, 2017
SEGMENTED INFORMATION |
SEGMENTED INFORMATION | 6. SEGMENTED INFORMATION The company's operating segments are reported based on the nature of their products and services and management responsibility. The following summary describes the operations in each of the segments:
• | Oil Sands includes the company's operations in the Athabasca oil sands in Alberta to develop and produce synthetic crude oil and related products, through the recovery and upgrading of bitumen from mining and in situ operations. This segment also includes the company's joint interest in the Fort Hills mining project, partnership in East Tank Farm blending and storage facility, as well as its ownership interest in the Syncrude oil sands mining and upgrading joint operation, located near Fort McMurray, Alberta. The individual operating segments related to mining operations, in situ, Fort Hills and Syncrude have been aggregated into one reportable segment (Oil Sands) due to the similar nature of their business activities, including the production of bitumen, and the single geographic area and regulatory environment in which they operate.
• | Exploration and Production includes offshore activity in East Coast Canada, with interests in the Hibernia, Terra Nova, White Rose and Hebron oilfields, the exploration and production of crude oil and natural gas at Buzzard and Golden Eagle Area Development, both in the United Kingdom (U. K.), Norway, Libya and Syria, and exploration and production of natural gas and natural gas liquids in Western Canada. Due to unrest in Syria, the company has declared force majeure under its contractual obligations, and Suncor's operations in Syria have been suspended indefinitely. Even though the political situation in Libya has improved, production remains partially shut-in and the timing of a return to normal operations continues to be uncertain.
• | Refining and Marketing includes the refining of crude oil products, and the distribution and marketing of these and other purchased products through retail stations located in Canada and the United States (U.S.), as well as a previously owned lubricants plant located in Eastern Canada which was sold on February 1, 2017 (note 36).
The company also reports activities not directly attributable to an operating segment under Corporate, Energy Trading and Eliminations. This includes investments in renewables projects. Intersegment sales of crude oil and natural gas are accounted for at market values and included, for segmented reporting, in revenues of the segment making the transfer and expenses of the segment receiving the transfer. Intersegment balances are eliminated on consolidation. Intersegment profit will not be recognized until the related product has been sold to third parties.
For the years ended December 31 |  | Oil Sands |  | Exploration and Production |  | Refining and Marketing |  | Corporate, Energy Trading and Eliminations |  | Total |  |
($ millions) |  | 2017 |  | 2016 |  | 2017 |  | 2016 |  | 2017 |  | 2016 |  | 2017 |  | 2016 |  | 2017 |  | 2016 |  |
Revenues and Other Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross revenues |  | 9 586 |  | 7 229 |  | 3 487 |  | 2 329 |  | 19 871 |  | 17 459 |  | 38 |  | 55 |  | 32 982 |  | 27 072 |  |
Intersegment revenues |  | 3 551 |  | 2 293 |  | — |  | 115 |  | 92 |  | 108 |  | (3 643 | ) | (2 516 | ) | — |  | — |  |
Less: Royalties |  | (355 | ) | (52 | ) | (576 | ) | (213 | ) | — |  | — |  | — |  | — |  | (931 | ) | (265 | ) |
Operating revenues, net of royalties |  | 12 782 |  | 9 470 |  | 2 911 |  | 2 231 |  | 19 963 |  | 17 567 |  | (3 605 | ) | (2 461 | ) | 32 051 |  | 26 807 |  |
Other income (loss) |  | 86 |  | 26 |  | (14 | ) | 45 |  | 73 |  | 16 |  | (20 | ) | 74 |  | 125 |  | 161 |  |
|  | 12 868 |  | 9 496 |  | 2 897 |  | 2 276 |  | 20 036 |  | 17 583 |  | (3 625 | ) | (2 387 | ) | 32 176 |  | 26 968 |  |
Expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Purchases of crude oil and products |  | 623 |  | 548 |  | — |  | — |  | 14 011 |  | 11 754 |  | (3 513 | ) | (2 425 | ) | 11 121 |  | 9 877 |  |
Operating, selling and general |  | 6 257 |  | 5 777 |  | 422 |  | 483 |  | 2 007 |  | 2 203 |  | 559 |  | 687 |  | 9 245 |  | 9 150 |  |
Transportation |  | 690 |  | 666 |  | 86 |  | 86 |  | 312 |  | 366 |  | (51 | ) | (46 | ) | 1 037 |  | 1 072 |  |
Depreciation, depletion, amortization and impairment |  | 3 782 |  | 3 864 |  | 1 028 |  | 1 381 |  | 685 |  | 702 |  | 106 |  | 170 |  | 5 601 |  | 6 117 |  |
Exploration |  | 15 |  | 30 |  | 89 |  | 259 |  | — |  | — |  | — |  | — |  | 104 |  | 289 |  |
Gain on disposal of assets |  | (50 | ) | (33 | ) | — |  | — |  | (455 | ) | (35 | ) | (97 | ) | — |  | (602 | ) | (68 | ) |
Financing expenses (income) |  | 180 |  | 234 |  | 36 |  | 82 |  | 15 |  | 10 |  | (477 | ) | 119 |  | (246 | ) | 445 |  |
|  | 11 497 |  | 11 086 |  | 1 661 |  | 2 291 |  | 16 575 |  | 15 000 |  | (3 473 | ) | (1 495 | ) | 26 260 |  | 26 882 |  |
Earnings (Loss) before Income Taxes |  | 1 371 |  | (1 590 | ) | 1 236 |  | (15 | ) | 3 461 |  | 2 583 |  | (152 | ) | (892 | ) | 5 916 |  | 86 |  |
Income Tax Expense (Recovery) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | 192 |  | (363 | ) | 617 |  | 301 |  | 941 |  | 681 |  | (541 | ) | (466 | ) | 1 209 |  | 153 |  |
Deferred |  | 170 |  | (78 | ) | (113 | ) | (506 | ) | (138 | ) | 12 |  | 330 |  | 60 |  | 249 |  | (512 | ) |
|  | 362 |  | (441 | ) | 504 |  | (205 | ) | 803 |  | 693 |  | (211 | ) | (406 | ) | 1 458 |  | (359 | ) |
Net Earnings (Loss) |  | 1 009 |  | (1 149 | ) | 732 |  | 190 |  | 2 658 |  | 1 890 |  | 59 |  | (486 | ) | 4 458 |  | 445 |  |
Capital and Exploration Expenditures |  | 5 059 |  | 4 724 |  | 824 |  | 1 139 |  | 634 |  | 685 |  | 34 |  | 34 |  | 6 551 |  | 6 582 |  |
Geographical Information Operating Revenues, net of Royalties
($ millions) |  | 2017 |  | 2016 |
Canada |  | 25 629 |  | 21 555 |
United States |  | 4 252 |  | 3 695 |
Other foreign |  | 2 170 |  | 1 557 |
|  | 32 051 |  | 26 807 |
Non-Current Assets(1)
($ millions) |  | Dec 31 2017 |  | Dec 31 2016 |
Canada |  | 76 091 |  | 73 704 |
United States |  | 1 712 |  | 1 509 |
Other foreign |  | 2 014 |  | 2 407 |
|  | 79 817 |  | 77 620 |
(1) | Excludes deferred income tax assets.

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