XML 39 R38.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

ACQUISITION OF ADDITIONAL OWNERSHIP INTEREST IN THE SYNCRUDE PROJECT | 12 Months Ended
--- | ---
Dec. 31, 2019
Syncrude |
Disclosure of detailed information about business combination [line items] |
ACQUISITION OF ADDITIONAL OWNERSHIP INTEREST IN THE SYNCRUDE PROJECT | 32. ACQUISITION OF ADDITIONAL OWNERSHIP INTEREST IN THE SYNCRUDE PROJECT On February 23, 2018, Suncor completed the purchase of an additional 5% working interest in the Syncrude project from Mocal Energy Limited for $923 million cash. Suncor's share in the Syncrude project has increased to 58.74%. The acquisition has been accounted for as a business combination using the acquisition method. The purchase price allocation is based on management's best estimates of fair values of Syncrude's assets and liabilities as at February 23, 2018.
($ millions) |  |  |  |
Accounts receivable |  | 2 |  |
Inventory |  | 15 |  |
Property, plant and equipment |  | 998 |  |
Exploration and evaluation |  | 163 |  |
Total assets acquired |  | 1 178 |  |
Accounts payable and accrued liabilities |  | (51 | ) |
Employee future benefits |  | (33 | ) |
Decommissioning provision |  | (169 | ) |
Deferred income taxes |  | (2 | ) |
Total liabilities assumed |  | (255 | ) |
Net assets acquired |  | 923 |  |
The fair values of accounts receivable and accounts payable approximate their carrying values due to the short-term maturity of the instruments. The fair value of materials and supplies inventory approximates book value due to short-term turnover rates. The fair values of property, plant and equipment, and the decommissioning provision were determined using an expected future cash flow approach. Key assumptions used in the calculations were discount rates, future commodity prices and costs, timing of development activities, projections of oil reserves, and cost estimates to abandon and reclaim the mine and facilities. The additional working interest in Syncrude contributed $270 million to gross revenues and a $7 million net loss to consolidated net earnings from the acquisition date to December 31, 2018. Had the acquisition occurred on January 1, 2018, the additional working interest would have contributed an additional $64 million to gross revenues and $4 million to consolidated net earnings, which would have resulted in gross revenues of $39.66 billion and consolidated net earnings of $3.30 billion for the twelve months ended December 31, 2018.

X
- Definition The entire disclosure for business combinations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 3 -IssueDate 2019-01-01 -Section Disclosures -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=3&code=ifrs-tx-2019-en-r&doctype=Standard&dita_xref=IFRS03_g59-63_TI -URIDate 2019-03-27 + Details
Name: | ifrs-full_DisclosureOfBusinessCombinationsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. + References No definition available. + Details
Name: | ifrs-full_DisclosureOfBusinessCombinationsLineItems
Namespace Prefix: | ifrs-full_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | ifrs-full_BusinessCombinationsAxis=su_SyncrudeMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |