XML 38 R12.htm IDEA: XBRL DOCUMENT
v3.20.4

SEGMENTED INFORMATION | 12 Months Ended
--- | ---
Dec. 31, 2020
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, and the company's joint interest in the Fort Hills partnership 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.), exploration and production of crude oil and gas 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.
• | 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 other investments in waste-to-biofuels, chemicals, and carbon capture 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 and Eliminations |  | Total |  |
($ millions) |  | 2020 |  | 2019 |  | 2020 |  | 2019 |  | 2020 |  | 2019 |  | 2020 |  | 2019 |  | 2020 |  | 2019 |  |
Revenues and Other Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross revenues |  | 7 792 |  | 13 948 |  | 1 899 |  | 3 675 |  | 15 180 |  | 22 216 |  | 29 |  | 27 |  | 24 900 |  | 39 866 |  |
Intersegment revenues |  | 2 825 |  | 4 399 |  | — |  | — |  | 92 |  | 88 |  | (2 917 | ) | (4 487 | ) | — |  | — |  |
Less: Royalties |  | (95 | ) | (917 | ) | (143 | ) | (605 | ) | — |  | — |  | — |  | — |  | (238 | ) | (1 522 | ) |
Operating revenues, net of royalties |  | 10 522 |  | 17 430 |  | 1 756 |  | 3 070 |  | 15 272 |  | 22 304 |  | (2 888 | ) | (4 460 | ) | 24 662 |  | 38 344 |  |
Other income (loss) |  | 298 |  | 172 |  | 54 |  | 430 |  | 48 |  | 75 |  | (10 | ) | (32 | ) | 390 |  | 645 |  |
|  | 10 820 |  | 17 602 |  | 1 810 |  | 3 500 |  | 15 320 |  | 22 379 |  | (2 898 | ) | (4 492 | ) | 25 052 |  | 38 989 |  |
Expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Purchases of crude oil and products |  | 844 |  | 1 407 |  | — |  | — |  | 11 243 |  | 15 296 |  | (2 975 | ) | (4 141 | ) | 9 112 |  | 12 562 |  |
Operating, selling and general |  | 7 169 |  | 8 027 |  | 476 |  | 525 |  | 1 892 |  | 2 173 |  | 390 |  | 519 |  | 9 927 |  | 11 244 |  |
Transportation |  | 1 223 |  | 1 293 |  | 100 |  | 80 |  | 138 |  | 120 |  | (43 | ) | (51 | ) | 1 418 |  | 1 442 |  |
Depreciation, depletion, amortization and impairment |  | 6 430 |  | 8 170 |  | 2 147 |  | 1 505 |  | 867 |  | 823 |  | 82 |  | 74 |  | 9 526 |  | 10 572 |  |
Exploration |  | 57 |  | 127 |  | 129 |  | 129 |  | — |  | — |  | — |  | — |  | 186 |  | 256 |  |
(Gain) loss on disposal of assets |  | (1 | ) | (14 | ) | — |  | (228 | ) | (24 | ) | (11 | ) | 9 |  | — |  | (16 | ) | (253 | ) |
Financing expenses |  | 336 |  | 318 |  | 47 |  | 73 |  | 37 |  | 55 |  | 576 |  | 187 |  | 996 |  | 633 |  |
|  | 16 058 |  | 19 328 |  | 2 899 |  | 2 084 |  | 14 153 |  | 18 456 |  | (1 961 | ) | (3 412 | ) | 31 149 |  | 36 456 |  |
(Loss) earnings before Income Taxes |  | (5 238 | ) | (1 726 | ) | (1 089 | ) | 1 416 |  | 1 167 |  | 3 923 |  | (937 | ) | (1 080 | ) | (6 097 | ) | 2 533 |  |
Income Tax (Recovery) Expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | (645 | ) | 266 |  | 64 |  | 626 |  | 325 |  | 972 |  | (403 | ) | (312 | ) | (659 | ) | 1 552 |  |
Deferred |  | (797 | ) | (1 565 | ) | (321 | ) | (215 | ) | (24 | ) | (49 | ) | 23 |  | (89 | ) | (1 119 | ) | (1 918 | ) |
|  | (1 442 | ) | (1 299 | ) | (257 | ) | 411 |  | 301 |  | 923 |  | (380 | ) | (401 | ) | (1 778 | ) | (366 | ) |
Net (Loss) Earnings |  | (3 796 | ) | (427 | ) | (832 | ) | 1 005 |  | 866 |  | 3 000 |  | (557 | ) | (679 | ) | (4 319 | ) | 2 899 |  |
Capital and Exploration Expenditures |  | 2 736 |  | 3 522 |  | 489 |  | 1 070 |  | 515 |  | 818 |  | 186 |  | 148 |  | 3 926 |  | 5 558 |  |
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 | 2020 |  | 2019 |  |
($ millions) | North America |  | International |  | Total |  | North America |  | International |  | Total |  |
Oil Sands(1) |  |  |  |  |  |  |  |  |  |  |  |  |
| SCO and diesel | 8 574 |  | — |  | 8 574 |  | 13 567 |  | — |  | 13 567 |  |
| Bitumen | 2 043 |  | — |  | 2 043 |  | 4 780 |  | — |  | 4 780 |  |
| 10 617 |  | — |  | 10 617 |  | 18 347 |  | — |  | 18 347 |  |
Exploration and Production |  |  |  |  |  |  |  |  |  |  |  |  |
| Crude oil and natural gas liquids | 1 089 |  | 806 |  | 1 895 |  | 1 922 |  | 1 747 |  | 3 669 |  |
| Natural gas | — |  | 4 |  | 4 |  | — |  | 6 |  | 6 |  |
| 1 089 |  | 810 |  | 1 899 |  | 1 922 |  | 1 753 |  | 3 675 |  |
Refining and Marketing |  |  |  |  |  |  |  |  |  |  |  |  |
| Gasoline | 6 585 |  | — |  | 6 585 |  | 9 941 |  | — |  | 9 941 |  |
| Distillate | 6 525 |  | — |  | 6 525 |  | 9 447 |  | — |  | 9 447 |  |
| Other | 2 162 |  | — |  | 2 162 |  | 2 916 |  | — |  | 2 916 |  |
| 15 272 |  | — |  | 15 272 |  | 22 304 |  | — |  | 22 304 |  |
Corporate and Eliminations | (2 888 | ) | — |  | (2 888 | ) | (4 460 | ) | — |  | (4 460 | ) |
Total Gross Revenue from Contracts with Customers | 24 090 |  | 810 |  | 24 900 |  | 38 113 |  | 1 753 |  | 39 866 |  |
(1) | Prior period amounts have been reclassified to conform with current period presentation.
Geographical Information Operating Revenues, net of Royalties
($ millions) |  | 2020 |  | 2019 |
Canada |  | 20 588 |  | 31 157 |
United States |  | 3 312 |  | 5 737 |
Other foreign |  | 762 |  | 1 450 |
|  | 24 662 |  | 38 344 |
Non-Current Assets(1)
($ millions) |  | December 31 2020 |  | December 31 2019 |
Canada |  | 71 040 |  | 75 190 |
United States |  | 1 856 |  | 1 957 |
Other foreign |  | 2 125 |  | 2 173 |
|  | 75 021 |  | 79 320 |
(1) | Excludes deferred income tax assets.

X
- Definition The entire disclosure for operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 8 -IssueDate 2020-01-01 -Section Disclosure -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2020-en-r&doctype=Standard&dita_xref=IFRS08_g20-24_TI -URIDate 2020-01-01 + Details
Name: | ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | ifrs-full_DisclosureOfOperatingSegmentsAbstract
Namespace Prefix: | ifrs-full_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration