XML 64 R39.htm IDEA: XBRL DOCUMENT
v3.22.2

Update to Significant Accounting Policies, Critical Accounting Judgements and Key Sources of Estimation Uncertainty (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2022
Update To Significant Accounting Policies [Abstract] |
Disclosure of Revisions to Prior Period | During the three months ended June 30, 2022, the Company has made adjustments to more appropriately reflect the cost of blending at our Lloydminster thermal and Lloydminster conventional heavy oil assets, which resulted in a reclassification of costs between purchased product and transportation and blending. An associated elimination entry was recorded in our Corporate and Eliminations segment to represent the change in the value of condensate that was extracted at our Canadian Manufacturing operations and sold back to the Oil Sands segment. As a result, purchased product decreased and transportation and blending increased, with no impact to net earnings (loss), segment income (loss), cash flows or financial position. 2022 Revisions
| Three Months Ended March 31, 2022 |  |
Oil Sands Segment | Previously Reported |  | Revisions |  | Revised |  |  |  |  |  |
Purchased Product | 1,483 |  | (271) |  | 1,212 |  |  |  |  |  |
Transportation and Blending | 2,885 |  | 271 |  | 3,156 |  |  |  |  |  |
| 4,368 |  | — |  | 4,368 |  |  |  |  |  |
| Three Months Ended March 31, 2022 |  |
Corporate and Eliminations Segment | Previously Reported |  | Revisions |  | Revised |  |  |  |  |  |
Purchased Product | (1,497) |  | 215 |  | (1,282) |  |  |  |  |  |
Transportation and Blending | (6) |  | (215) |  | (221) |  |  |  |  |  |
| (1,503) |  | — |  | (1,503) |  |  |  |  |  |
| Three Months Ended March 31, 2022 |  |
Consolidated | Previously Reported |  | Revision |  | Revised |  |  |  |  |  |
Purchased Product | 7,538 |  | (56) |  | 7,482 |  |  |  |  |  |
Transportation and Blending | 2,919 |  | 56 |  | 2,975 |  |  |  |  |  |
| 10,457 |  | — |  | 10,457 |  |  |  |  |  |
2021 Revisions
| Three Months Ended June 30, 2021 |  | Six Months Ended June 30, 2021 |  |
Oil Sands Segment | Previously Reported |  | Revisions |  | Revised |  | Previously Reported |  | Revisions |  | Revised |  |  |  |  |  |
Gross Sales | 5,015 |  | 60 |  | 5,075 |  | 9,790 |  | 203 |  | 9,993 |  |  |  |  |  |
Purchased Product (1) | 574 |  | (144) |  | 430 |  | 1,292 |  | (173) |  | 1,119 |  |  |  |  |  |
Transportation and Blending | 1,780 |  | 204 |  | 1,984 |  | 3,558 |  | 376 |  | 3,934 |  |  |  |  |  |
| 2,661 |  | — |  | 2,661 |  | 4,940 |  | — |  | 4,940 |  |  |  |  |  |
(1)Revisions include $60 million and $203 million for the three and six months ended June 30, 2021, respectively, related to adjustments for product swaps and third-party purchases used in blending and optimization activities. Revisions include $204 million and $376 million for the three and six months ended June 30, 2021, respectively, to more appropriately reflect the cost of blending at our Lloydminster thermal and Lloydminster conventional heavy oil assets.
| Three Months Ended June 30, 2021 |  | Six Months Ended June 30, 2021 |  |
Corporate and Eliminations Segment | Previously Reported |  | Revisions |  | Revised |  | Previously Reported |  | Revisions |  | Revised |  |  |  |  |  |
Purchased Product | (1,110) |  | 146 |  | (964) |  | (2,083) |  | 284 |  | (1,799) |  |  |  |  |  |
Transportation and Blending | (6) |  | (146) |  | (152) |  | (21) |  | (284) |  | (305) |  |  |  |  |  |
| (1,116) |  | — |  | (1,116) |  | (2,104) |  | — |  | (2,104) |  |  |  |  |  |
| Three Months Ended June 30, 2021 |  | Six Months Ended June 30, 2021 |  |
Consolidated | Previously Reported |  | Revision |  | Revised |  | Previously Reported |  | Revision |  | Revised |  |  |  |  |  |
Gross Sales | 11,110 |  | 60 |  | 11,170 |  | 20,633 |  | 203 |  | 20,836 |  |  |  |  |  |
Purchased Product | 5,253 |  | 2 |  | 5,255 |  | 9,347 |  | 111 |  | 9,458 |  |  |  |  |  |
Transportation and Blending | 1,796 |  | 58 |  | 1,854 |  | 3,581 |  | 92 |  | 3,673 |  |  |  |  |  |
| 4,061 |  | — |  | 4,061 |  | 7,705 |  | — |  | 7,705 |  |  |  |  |  |

X
- Definition Disclosure of Revisions to Prior Period + References No definition available. + Details
Name: | cve_DisclosureOfRevisionsToPriorPeriodTableTextBlock
Namespace Prefix: | cve_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Update to significant accounting policies. + References No definition available. + Details
Name: | cve_UpdateToSignificantAccountingPoliciesAbstract
Namespace Prefix: | cve_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration