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Stock-Based Compensation Plans (Tables) | 12 Months Ended
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Dec. 31, 2020
Disclosure of terms and conditions of share-based payment arrangement [Line Items] |
Summary of Stock-Based Compensation | E) Total Stock-Based Compensation
For the years ended December 31, |  | 2020 |  |  |  | 2019 |  |  |  | 2018 |
Net Settlement Rights |  | 11 |  |  |  | 9 |  |  |  | 6 |
Performance Share Units |  | 19 |  |  |  | 15 |  |  |  | (6 | )
Restricted Share Units |  | 23 |  |  |  | 34 |  |  |  | 9 |
Deferred Share Units |  | (4 | ) |  |  | 9 |  |  |  | - |
Stock-Based Compensation Expense |  | 49 |  |  |  | 67 |  |  |  | 9 |
Stock-Based Compensation Costs Capitalized |  | 16 |  |  |  | 20 |  |  |  | 4 |
|  | 65 |  |  |  | 87 |  |  |  | 13 |
NSRs [Member] |
Disclosure of terms and conditions of share-based payment arrangement [Line Items] |
Summary of Assumptions Used to Determine Fair Value of Options Granted | The fair value of each NSR was estimated on its grant date using the Black-Scholes-Merton valuation model with weighted average assumptions as follows:
Risk-Free Interest Rate |  | 1.19 | %
Expected Dividend Yield |  | 1.77 | %
Expected Volatility (1) |  | 29.74 | %
Expected Life (years) |  | 5.00 |
(1) | Expected volatility has been based on historical share volatility of the Company and comparable industry peers.
Summary of Units Activity and Related Information | The following tables summarize information related to the NSRs:
For the year ended December 31, 2020 | Number of NSRs (thousands) |  |  | Weighted Average Exercise Price ($) |
Outstanding, Beginning of Year |  | 31,528 |  |  |  | 22.61 |
Granted |  | 5,783 |  |  |  | 11.73 |
Exercised |  | (42 | ) |  |  | 9.48 |
Forfeited |  | (416 | ) |  |  | 23.52 |
Expired |  | (6,256 | ) |  |  | 32.60 |
Outstanding, End of Year |  | 30,597 |  |  |  | 18.52 |
Summary of Options Outstanding and Exercisable by Range of Exercise Price |
| Outstanding NSRs |  |  | Exercisable NSRs |
As at December 31, 2020 Range of Exercise Price ($) | Number of NSRs (thousands) |  |  | Weighted Average Remaining Contractual Life (years) |  |  | Weighted Average Exercise Price ($) |  |  | Number of NSRs (thousands) |  |  | Weighted Average Exercise Price ($) |
5.00 to 9.99 |  | 2,796 |  |  |  | 4.2 |  |  |  | 9.48 |  |  |  | 1,596 |  |  |  | 9.48 |
10.00 to 14.99 |  | 12,921 |  |  |  | 5.2 |  |  |  | 12.27 |  |  |  | 4,189 |  |  |  | 13.53 |
15.00 to 19.99 |  | 2,691 |  |  |  | 2.3 |  |  |  | 19.47 |  |  |  | 2,691 |  |  |  | 19.47 |
20.00 to 24.99 |  | 3,078 |  |  |  | 1.1 |  |  |  | 22.26 |  |  |  | 3,078 |  |  |  | 22.26 |
25.00 to 29.99 |  | 8,540 |  |  |  | 0.1 |  |  |  | 28.37 |  |  |  | 8,540 |  |  |  | 28.37 |
30.00 to 34.99 |  | 571 |  |  |  | 0.5 |  |  |  | 32.27 |  |  |  | 571 |  |  |  | 32.27 |
|  | 30,597 |  |  |  | 2.9 |  |  |  | 18.52 |  |  |  | 20,665 |  |  |  | 21.94 |
PSUs [Member] |
Disclosure of terms and conditions of share-based payment arrangement [Line Items] |
Summary of Units Activity and Related Information | The following table summarizes the information related to the PSUs held by Cenovus employees:
For the year ended December 31, 2020 | Number of PSUs (thousands) |
Outstanding, Beginning of Year |  | 6,912 |
Granted |  | 3,846 |
Vested and Paid Out |  | (1,223 | )
Cancelled |  | (449 | )
Units in Lieu of Dividends |  | 198 |
Outstanding, End of Year |  | 9,284 |
RSUs [Member] |
Disclosure of terms and conditions of share-based payment arrangement [Line Items] |
Summary of Units Activity and Related Information | The following table summarizes the information related to the RSUs held by Cenovus employees:
For the year ended December 31, 2020 | Number of RSUs (thousands) |
Outstanding, Beginning of Year |  | 8,372 |
Granted |  | 2,686 |
Vested and Paid Out |  | (2,606 | )
Cancelled |  | (234 | )
Units in Lieu of Dividends |  | 212 |
Outstanding, End of Year |  | 8,430 |
DSUs [Member] |
Disclosure of terms and conditions of share-based payment arrangement [Line Items] |
Summary of Units Activity and Related Information | The following table summarizes the information related to the DSUs held by Cenovus directors, officers and employees:
For the year ended December 31, 2020 | Number of DSUs (thousands) |
Outstanding, Beginning of Year |  | 1,237 |
Granted to Directors |  | 288 |
Granted |  | 30 |
Units in Lieu of Dividends |  | 33 |
Redeemed |  | (255 | )
Outstanding, End of Year |  | 1,333 |

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