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Segmented Information (Tables)

12 Months Ended

Dec. 31, 2022




			Exploration		Refining and		Corporate and
For the years ended December 31	Oil Sands		and Production		Marketing		Eliminations		Total
($ millions)	2022	2021	2022	2021	2022	2021	2022	2021	2022	2021

Revenues and Other Income
Gross revenues⁽¹⁾	21 905	15 319	4 331	2 978	36 622	22 808	49	28	62 907	41 133
Intersegment revenues⁽¹⁾	8 526	4 601	-	-	106	107	(8 632)	(4 708)	-	-
Less: Royalties	(3 963)	(1 523)	(608)	(478)	-	-	-	-	(4 571)	(2 001)
Operating revenues, net of royalties	26 468	18 397	3 723	2 500	36 728	22 915	(8 583)	(4 680)	58 336	39 132
Other (loss) income	(53)	6	164	17	(60)	(50)	80	(4)	131	(31)
	26 415	18 403	3 887	2 517	36 668	22 865	(8 503)	(4 684)	58 467	39 101
Expenses
Purchases of crude oil and products⁽¹⁾	2 050	1 444	-	-	27 261	16 807	(8 536)	(4 460)	20 775	13 791
Operating, selling and general	9 152	8 056	490	429	2 427	2 019	738	862	12 807	11 366
Transportation and distribution	1 210	1 126	101	112	396	282	(36)	(41)	1 671	1 479
Depreciation, depletion, amortization and impairment	7 927	4 585	(105)	324	844	853	120	88	8 786	5 850
Exploration	37	12	19	35	-	-	-	-	56	47
(Gain) loss on disposal of assets	(7)	(4)	66	(227)	(11)	(19)	(3)	(7)	45	(257)
Financing expenses	413	359	95	53	57	56	1 446	787	2 011	1 255
	20 782	15 578	666	726	30 974	19 998	(6 271)	(2 771)	46 151	33 531
Earnings (Loss) before Income Taxes	5 633	2 825	3 221	1 791	5 694	2 867	(2 232)	(1 913)	12 316	5 570
Income Tax Expense (Recovery)
Current	-	-	-	-	-	-	-	-	4 229	1 395
Deferred	-	-	-	-	-	-	-	-	(990)	56
	-	-	-	-	-	-	-	-	3 239	1 451
Net Earnings	-	-	-	-	-	-	-	-	9 077	4 119
Capital and Exploration Expenditures⁽²⁾	3 540	3 168	443	270	816	825	188	292	4 987	4 555

(1)	The company revised certain gross revenues and purchases of crude oil and products to align with current period presentation. For the twelve months ended December 31, 2022, gross revenues and purchases of crude oil and products decreased by $150 million, with no effect on net earnings.

(2)	Excludes capital expenditures related to assets held for sale of $133 million for the year ended December 31, 2022.

Schedule of disaggregation of revenue from contracts with customers and intersegment revenue

The company’s revenues are from the following major commodities and geographical regions:



For the years ended December 31	2022			2021
($ millions)	North America	International	Total	North America	International	Total
Oil Sands
Synthetic crude oil and diesel⁽¹⁾	22 539	-	22 539	14 452	-	14 452
Bitumen	7 892	-	7 892	5 468	-	5 468
	30 431	-	30 431	19 920	-	19 920
Exploration and Production
Crude oil and natural gas liquids	2 464	1 834	4 298	1 709	1 257	2 966
Natural gas	-	33	33	-	12	12
	2 464	1 867	4 331	1 709	1 269	2 978
Refining and Marketing
Gasoline	14 540	-	14 540	9 983	-	9 983
Distillate	18 663	-	18 663	9 832	-	9 832
Other	3 525	-	3 525	3 100	-	3 100
	36 728	-	36 728	22 915	-	22 915
Corporate and Eliminations⁽¹⁾
	(8 583)	-	(8 583)	(4 680)	-	(4 680)
Total Gross Revenue from Contracts with Customers	61 040	1 867	62 907	39 864	1 269	41 133

(1)	The company revised certain gross revenues and purchases of crude oil and products to align with current period presentation. For the twelve months ended December 31, 2022, gross revenues and purchases of crude oil and products decreased by $150 million, with no effect on net earnings.

Schedule of operating revenues and non-current assets by geographic area

Operating Revenues, net of Royalties


($ millions)	2022	2021


Canada	49 169	32 286
United States	7 544	5 818
Other foreign	1 623	1 028
	58 336	39 132

Non-Current Assets⁽¹⁾


	December 31	December 31
($ millions)	2022	2021

Canada	66 346	68 900
United States	2 629	2 020
Other foreign	1 026	1 682
	70 001	72 602

(1)	Excludes deferred income tax assets.