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Segmented Information (Tables) | 12 Months Ended
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Dec. 31, 2023
Segmented Information |
Schedule of segmented information | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |
​ | ​ | ​ | ​ | ​ | ​ | Exploration | ​ | Refining and | ​ | Corporate and | ​ | ​ | ​ | ​ |
For the years ended December 31 | ​ | Oil Sands | ​ | and Production | ​ | Marketing | ​ | Eliminations | ​ | Total |
($ millions) |  | 2023 |  | 2022 |  | 2023 |  | 2022 |  | 2023 |  | 2022 |  | 2023 |  | 2022 |  | 2023 |  | 2022 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Revenues and Other Income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ | ​
Gross revenues |  | 18 569 |  | 21 905 |  | 2 689 |  | 4 331 |  | 30 959 |  | 36 622 |  | (11) |  | 49 |  | 52 206 |  | 62 907 | ​
Intersegment revenues |  | 7 466 |  | 8 526 |  | - |  | - |  | 109 |  | 106 |  | (7 575) |  | (8 632) |  | - |  | - | ​
Less: Royalties |  | (2 623) |  | (3 963) |  | (491) |  | (608) |  | - |  | - |  | - |  | - |  | (3 114) |  | (4 571) | ​
Operating revenues, net of royalties |  | 23 412 |  | 26 468 |  | 2 198 |  | 3 723 |  | 31 068 |  | 36 728 |  | (7 586) |  | (8 583) |  | 49 092 |  | 58 336 | ​
Other income (loss) |  | 1 469 |  | (53) |  | 10 |  | 164 |  | 224 |  | (60) |  | (49) |  | 80 |  | 1 654 |  | 131 | ​
​ |  | 24 881 |  | 26 415 |  | 2 208 |  | 3 887 |  | 31 292 |  | 36 668 |  | (7 635) |  | (8 503) |  | 50 746 |  | 58 467 | ​
Expenses |  |  |  |  |  |  |  |  |  | ​ |  |  |  | ​ |  |  |  |  |  |  | ​
Purchases of crude oil and products |  | 1 935 |  | 2 050 |  | - |  | - |  | 23 867 |  | 27 261 |  | (7 587) |  | (8 536) |  | 18 215 |  | 20 775 | ​
Operating, selling and general |  | 9 329 |  | 9 152 |  | 475 |  | 490 |  | 2 558 |  | 2 427 |  | 1 021 |  | 738 |  | 13 383 |  | 12 807 | ​
Transportation and distribution |  | 1 213 |  | 1 210 |  | 76 |  | 101 |  | 521 |  | 396 |  | (35) |  | (36) |  | 1 775 |  | 1 671 | ​
Depreciation, depletion, amortization and impairment |  | 4 902 |  | 7 927 |  | 483 |  | (105) |  | 934 |  | 844 |  | 116 |  | 120 |  | 6 435 |  | 8 786 | ​
Exploration |  | 60 |  | 37 |  | 14 |  | 19 |  | - |  | - |  | - |  | - |  | 74 |  | 56 | ​
(Gain) loss on disposal of assets |  | (39) |  | (7) |  | (600) |  | 66 |  | (28) |  | (11) |  | (325) |  | (3) |  | (992) |  | 45 | ​
Financing expenses |  | 670 |  | 413 |  | 69 |  | 95 |  | 57 |  | 57 |  | 471 |  | 1 446 |  | 1 267 |  | 2 011 | ​
​ |  | 18 070 |  | 20 782 |  | 517 |  | 666 |  | 27 909 |  | 30 974 |  | (6 339) |  | (6 271) |  | 40 157 |  | 46 151 | ​
Earnings (Loss) before Income Taxes |  | 6 811 |  | 5 633 |  | 1 691 |  | 3 221 |  | 3 383 |  | 5 694 |  | (1 296) |  | (2 232) |  | 10 589 |  | 12 316 | ​
Income Tax Expense (Recovery) |  |  |  |  |  |  |  |  |  | ​ |  |  |  | ​ |  | ​ |  |  |  |  | ​
Current |  | - |  | - |  | - |  | - |  | - |  | - |  | - |  | - |  | 1 734 |  | 4 229 | ​
Deferred |  | - |  | - |  | - |  | - |  | - |  | - |  | - |  | - |  | 560 |  | (990) | ​
​ |  | - |  | - |  | - |  | - |  | - |  | - |  | - |  | - |  | 2 294 |  | 3 239 | ​
Net Earnings |  | - |  | - |  | - |  | - |  | - |  | - |  | - |  | - |  | 8 295 |  | 9 077 | ​
Capital and Exploration Expenditures(1) |  | 4 096 |  | 3 540 |  | 668 |  | 443 |  | 1 002 |  | 816 |  | 62 |  | 188 |  | 5 828 |  | 4 987 | ​
(1) | Excludes capital expenditures related to assets previously held for sale of $108 million for the year ended December 31, 2023 (2022 - $133 million).
Schedule of disaggregation of revenue from contracts with customers and intersegment revenue | The company’s revenues are from the following major commodities and geographical regions:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
For the years ended December 31 | ​ | 2023 | ​ | 2022
($ millions) | ​ | North America | ​ | International | ​ | Total | ​ | North America | ​ | International | ​ | Total
Oil Sands |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Synthetic crude oil and diesel |  | 18 817 | ​ | - | ​ | 18 817 | ​ | 22 539 | ​ | - | ​ | 22 539
Bitumen |  | 7 218 | ​ | - | ​ | 7 218 | ​ | 7 892 | ​ | - | ​ | 7 892
​ | ​ | 26 035 | ​ | - | ​ | 26 035 | ​ | 30 431 | ​ | - | ​ | 30 431
Exploration and Production | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Crude oil and natural gas liquids | ​ | 1 689 | ​ | 994 | ​ | 2 683 | ​ | 2 464 | ​ | 1 834 | ​ | 4 298
Natural gas | ​ | - | ​ | 6 | ​ | 6 | ​ | - | ​ | 33 | ​ | 33
​ | ​ | 1 689 | ​ | 1 000 | ​ | 2 689 | ​ | 2 464 | ​ | 1 867 | ​ | 4 331
Refining and Marketing | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Gasoline | ​ | 13 106 | ​ | - | ​ | 13 106 | ​ | 14 540 | ​ | - | ​ | 14 540
Distillate | ​ | 15 283 | ​ | - | ​ | 15 283 | ​ | 18 663 | ​ | - | ​ | 18 663
Other | ​ | 2 679 | ​ | - | ​ | 2 679 | ​ | 3 525 | ​ | - | ​ | 3 525
​ | ​ | 31 068 | ​ | - | ​ | 31 068 | ​ | 36 728 | ​ | - | ​ | 36 728
Corporate and Eliminations | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | (7 586) | ​ | - | ​ | (7 586) | ​ | (8 583) | ​ | - | ​ | (8 583)
Total Gross Revenue from Contracts with Customers |  | 51 206 | ​ | 1 000 | ​ | 52 206 | ​ | 61 040 | ​ | 1 867 | ​ | 62 907
​
Schedule of operating revenues and non-current assets by geographic area | Operating Revenues, net of Royalties
​ | ​ | ​ | ​ | ​ | ​
($ millions) |  | 2023 |  | 2022 |
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​
Canada |  | 41 948 |  | 49 169 | ​
United States |  | 6 447 |  | 7 544 | ​
Other foreign |  | 697 |  | 1 623 | ​
​ |  | 49 092 |  | 58 336 | ​
​ Non-Current Assets(1)
​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31 |  | December 31 |
($ millions) | ​ | 2023 | ​ | 2022 | ​
​ | ​ | ​ | ​ | ​ | ​
Canada |  | 71 438 |  | 66 346 | ​
United States |  | 2 624 |  | 2 629 | ​
Other foreign |  | 584 |  | 1 026 | ​
​ |  | 74 646 |  | 70 001 | ​
(1) | Excludes deferred income tax assets.

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