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SEGMENTED INFORMATION | 12 Months Ended
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Dec. 31, 2019
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 wholly owned operations in the Athabasca oil sands in Alberta to explore, develop and produce bitumen, 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 Syncrude oil sands mining and upgrading operation, the company's joint interest in the Fort Hills partnership and the company's controlling interest in the East Tank Farm blending and storage facility located near Fort McMurray, Alberta as well as the marketing, supply, transportation and risk management of crude oil, natural gas, power and byproducts. 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 (E&P) 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 in the United Kingdom (U.K.), and exploration and production of crude oil at Oda and the development of the Fenja fields in Norway, as well as the marketing and risk management of crude oil and natural gas. 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. Production in Libya remains partially shut-in due to political unrest, 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, marketing, transportation and risk management of refined and petrochemical products, and other purchased products through the retail and wholesale networks located in Canada and the United States (U.S.). The segment also includes trading of crude oil, natural gas and power.
The company also reports activities not directly attributable to an operating segment under Corporate and Eliminations. This includes renewable projects such as the wind power facilities of Chin Chute and Magrath in Alberta, SunBridge in Saskatchewan and Adelaide in Ontario as well as an investment in Enerkem Inc., a waste-to-biofuels and chemicals producer headquartered in Quebec. 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(1)(2) |  | Oil Sands |  | Exploration and Production |  | Refining and Marketing |  | Corporate and Eliminations |  | Total |  |
($ millions) |  | 2019 |  | 2018 |  | 2019 |  | 2018 |  | 2019 |  | 2018 |  | 2019 |  | 2018 |  | 2019 |  | 2018 |  |
Revenues and Other Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross revenues |  | 13 948 |  | 12 039 |  | 3 675 |  | 3 869 |  | 22 216 |  | 23 655 |  | 27 |  | 29 |  | 39 866 |  | 39 592 |  |
Intersegment revenues |  | 4 399 |  | 3 704 |  | — |  | — |  | 88 |  | 123 |  | (4 487 | ) | (3 827 | ) | — |  | — |  |
Less: Royalties |  | (917 | ) | (398 | ) | (605 | ) | (652 | ) | — |  | — |  | — |  | — |  | (1 522 | ) | (1 050 | ) |
Operating revenues, net of royalties |  | 17 430 |  | 15 345 |  | 3 070 |  | 3 217 |  | 22 304 |  | 23 778 |  | (4 460 | ) | (3 798 | ) | 38 344 |  | 38 542 |  |
Other income (loss) |  | 172 |  | 387 |  | 430 |  | (68 | ) | 75 |  | 68 |  | (32 | ) | 57 |  | 645 |  | 444 |  |
|  | 17 602 |  | 15 732 |  | 3 500 |  | 3 149 |  | 22 379 |  | 23 846 |  | (4 492 | ) | (3 741 | ) | 38 989 |  | 38 986 |  |
Expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Purchases of crude oil and products |  | 1 407 |  | 1 563 |  | — |  | — |  | 15 296 |  | 16 656 |  | (4 141 | ) | (4 086 | ) | 12 562 |  | 14 133 |  |
Operating, selling and general |  | 8 027 |  | 7 577 |  | 525 |  | 507 |  | 2 173 |  | 2 043 |  | 519 |  | 446 |  | 11 244 |  | 10 573 |  |
Transportation |  | 1 293 |  | 1 144 |  | 80 |  | 85 |  | 120 |  | 147 |  | (51 | ) | (57 | ) | 1 442 |  | 1 319 |  |
Depreciation, depletion, amortization and impairment |  | 8 170 |  | 4 024 |  | 1 505 |  | 967 |  | 823 |  | 684 |  | 74 |  | 63 |  | 10 572 |  | 5 738 |  |
Exploration |  | 127 |  | 44 |  | 129 |  | 78 |  | — |  | — |  | — |  | — |  | 256 |  | 122 |  |
(Gain) loss on asset exchange and disposal of assets |  | (14 | ) | (108 | ) | (228 | ) | 91 |  | (11 | ) | (7 | ) | — |  | — |  | (253 | ) | (24 | ) |
Financing expenses |  | 318 |  | 320 |  | 73 |  | 46 |  | 55 |  | 7 |  | 187 |  | 1 769 |  | 633 |  | 2 142 |  |
|  | 19 328 |  | 14 564 |  | 2 084 |  | 1 774 |  | 18 456 |  | 19 530 |  | (3 412 | ) | (1 865 | ) | 36 456 |  | 34 003 |  |
(Loss) earnings before Income Taxes |  | (1 726 | ) | 1 168 |  | 1 416 |  | 1 375 |  | 3 923 |  | 4 316 |  | (1 080 | ) | (1 876 | ) | 2 533 |  | 4 983 |  |
Income Tax (Recovery) Expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | 266 |  | (128 | ) | 626 |  | 680 |  | 972 |  | 1 090 |  | (312 | ) | (392 | ) | 1 552 |  | 1 250 |  |
Deferred |  | (1 565 | ) | 351 |  | (215 | ) | (112 | ) | (49 | ) | 72 |  | (89 | ) | 129 |  | (1 918 | ) | 440 |  |
|  | (1 299 | ) | 223 |  | 411 |  | 568 |  | 923 |  | 1 162 |  | (401 | ) | (263 | ) | (366 | ) | 1 690 |  |
Net (Loss) Earnings |  | (427 | ) | 945 |  | 1 005 |  | 807 |  | 3 000 |  | 3 154 |  | (679 | ) | (1 613 | ) | 2 899 |  | 3 293 |  |
Capital and Exploration Expenditures |  | 3 522 |  | 3 546 |  | 1 070 |  | 946 |  | 818 |  | 856 |  | 148 |  | 58 |  | 5 558 |  | 5 406 |  |
(1) | Beginning in 2019, results from the company's Energy Trading business are included within each of the respective operating business segments to which the respective trading activity relates. The Energy Trading business was previously reported within the Corporate, Energy Trading and Eliminations segment. Prior periods have been restated to reflect this change. The results from the company's Renewable Energy business continue to be included within the Corporate and Eliminations segment.
(2) | The company adopted IFRS 16 on January 1, 2019 using the modified retrospective transition approach and, therefore, prior periods have not been restated. Refer to note 5 for further information.
Disaggregation of Revenue from Contracts with Customers and Intersegment Revenue The company derives revenue from the transfer of goods mainly at a point in time in the following major commodities, revenue streams and geographical regions:
For the years ended December 31 (1) | 2019 |  | 2018 |  |
($ millions) | North America |  | International |  | Total |  | North America |  | International |  | Total |  |
Oil Sands |  |  |  |  |  |  |  |  |  |  |  |  |
| SCO and diesel | 13 368 |  | — |  | 13 368 |  | 11 659 |  | — |  | 11 659 |  |
| Bitumen | 4 979 |  | — |  | 4 979 |  | 4 084 |  | — |  | 4 084 |  |
| 18 347 |  | — |  | 18 347 |  | 15 743 |  | — |  | 15 743 |  |
Exploration and Production |  |  |  |  |  |  |  |  |  |  |  |  |
| Crude oil and natural gas liquids | 1 922 |  | 1 747 |  | 3 669 |  | 1 741 |  | 2 112 |  | 3 853 |  |
| Natural gas | — |  | 6 |  | 6 |  | 3 |  | 13 |  | 16 |  |
| 1 922 |  | 1 753 |  | 3 675 |  | 1 744 |  | 2 125 |  | 3 869 |  |
Refining and Marketing |  |  |  |  |  |  |  |  |  |  |  |  |
| Gasoline | 9 941 |  | — |  | 9 941 |  | 10 819 |  | — |  | 10 819 |  |
| Distillate | 9 447 |  | — |  | 9 447 |  | 9 698 |  | — |  | 9 698 |  |
| Other | 2 916 |  | — |  | 2 916 |  | 3 261 |  | — |  | 3 261 |  |
| 22 304 |  | — |  | 22 304 |  | 23 778 |  | — |  | 23 778 |  |
Corporate and Eliminations | (4 460 | ) | — |  | (4 460 | ) | (3 798 | ) | — |  | (3 798 | ) |
Total Gross Revenue from Contracts with Customers | 38 113 |  | 1 753 |  | 39 866 |  | 37 467 |  | 2 125 |  | 39 592 |  |
(1) | Beginning in 2019, results from the company's Energy Trading business are included within each of the respective operating business segments to which the respective trading activity relates. The Energy Trading business was previously reported within the Corporate, Energy Trading and Eliminations segment. Prior periods have been restated to reflect this change. The results from the company's Renewable Energy business continue to be included within the Corporate and Eliminations segment.
Geographical Information Operating Revenues, net of Royalties
($ millions) |  | 2019 |  | 2018 |
Canada |  | 31 157 |  | 30 813 |
United States |  | 5 737 |  | 5 999 |
Other foreign |  | 1 450 |  | 1 730 |
|  | 38 344 |  | 38 542 |
Non-Current Assets(1)
($ millions) |  | December 31 2019 |  | December 31 2018 |
Canada |  | 75 190 |  | 76 708 |
United States |  | 1 957 |  | 1 889 |
Other foreign |  | 2 173 |  | 2 154 |
|  | 79 320 |  | 80 751 |
(1) | Excludes deferred income tax assets.

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