XML 172 R137.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Debt and Capital Structure - Unsecured Notes (Details) $ in Millions, $ in Millions | 12 Months Ended |  |  |  |  |  |
--- | --- | --- | --- | --- | --- | --- | ---
Dec. 31, 2021 CAD ($) | Dec. 31, 2020 CAD ($) | Dec. 31, 2019 CAD ($) | Jan. 10, 2022 | Dec. 31, 2021 USD ($) | Oct. 31, 2021 USD ($) | Sep. 13, 2021 USD ($) | Jan. 01, 2021 CAD ($) | Jan. 01, 2021 USD ($) | Dec. 31, 2020 USD ($)
Disclosure of detailed information about borrowings [line items] |  |  |  |  |  |  |  |  |  |
Long-Term Debt | $ 12,385 | $ 7,441 |  |  |  |  |  |  |  |
Repayments of long-term debt | 2,870 | 112 | $ 2,279 |  |  |  |  |  |  |
Total debt principal |  |  |  |  | $ 7,400 |  |  |  |  | $ 5,900
Long-Term Debt |  |  |  |  |  |  |  |  |  |
Disclosure of detailed information about borrowings [line items] |  |  |  |  |  |  |  |  |  |
Repayments of long-term debt | 2,870 | 112 | $ 2,279 |  |  |  |  |  |  |
Total debt principal | 12,113 | 7,510 |  |  | $ 7,385 |  |  |  |  | 5,898
Unsecured Notes |  |  |  |  |  |  |  |  |  |
Disclosure of detailed information about borrowings [line items] |  |  |  |  |  |  |  |  |  |
Principal amount of debt repayments |  |  |  |  |  | $ 2,300 |  |  |  |
Total debt principal |  |  |  |  |  | $ 2,200 |  |  |  |
Canadian Dollar Denominated Unsecured Notes | Long-Term Debt |  |  |  |  |  |  |  |  |  |
Disclosure of detailed information about borrowings [line items] |  |  |  |  |  |  |  |  |  |
Total debt principal | $ 2,750 | 0 |  |  |  |  |  |  |  |
Canadian Dollar Denominated Unsecured Notes | 3.55% due March 12, 2025 | Long-Term Debt |  |  |  |  |  |  |  |  |  |
Disclosure of detailed information about borrowings [line items] |  |  |  |  |  |  |  |  |  |
Long-term debt, interest rate | 3.55% |  |  |  | 3.55% |  |  |  |  |
Total debt principal | $ 750 | 0 |  |  |  |  |  |  |  |
Canadian Dollar Denominated Unsecured Notes | 3.60% due March 10, 2027 | Long-Term Debt |  |  |  |  |  |  |  |  |  |
Disclosure of detailed information about borrowings [line items] |  |  |  |  |  |  |  |  |  |
Long-term debt, interest rate | 3.60% |  |  |  | 3.60% |  |  |  |  |
Total debt principal | $ 750 | 0 |  |  |  |  |  |  |  |
Canadian Dollar Denominated Unsecured Notes | 3.50% due February 7, 2028 | Long-Term Debt |  |  |  |  |  |  |  |  |  |
Disclosure of detailed information about borrowings [line items] |  |  |  |  |  |  |  |  |  |
Long-term debt, interest rate | 3.50% |  |  |  | 3.50% |  |  |  |  |
Total debt principal | $ 1,250 | 0 |  |  |  |  |  |  |  |
Canadian Dollar Denominated Unsecured Notes | The Arrangement |  |  |  |  |  |  |  |  |  |
Disclosure of detailed information about borrowings [line items] |  |  |  |  |  |  |  |  |  |
Long-term debt, fair value |  |  |  |  |  |  |  | $ 2,900 |  |
Long-Term Debt |  |  |  |  |  |  |  | 2,800 |  |
U.S. Dollar Denominated Unsecured Notes | Long-Term Debt |  |  |  |  |  |  |  |  |  |
Disclosure of detailed information about borrowings [line items] |  |  |  |  |  |  |  |  |  |
Total debt principal | $ 9,363 | 7,510 |  |  | $ 7,385 |  |  |  |  | 5,898
U.S. Dollar Denominated Unsecured Notes | 6.80% due September 15, 2037 | Long-Term Debt |  |  |  |  |  |  |  |  |  |
Disclosure of detailed information about borrowings [line items] |  |  |  |  |  |  |  |  |  |
Long-term debt, interest rate | 6.80% |  |  |  | 6.80% |  |  |  |  |
Total debt principal | $ 490 | 0 |  |  | $ 387 |  |  |  |  | 0
U.S. Dollar Denominated Unsecured Notes | 4.40% due April 15, 2029 | Long-Term Debt |  |  |  |  |  |  |  |  |  |
Disclosure of detailed information about borrowings [line items] |  |  |  |  |  |  |  |  |  |
Long-term debt, interest rate | 4.40% |  |  |  | 4.40% |  |  |  |  |
Total debt principal | $ 951 | 0 |  |  | $ 750 |  |  |  |  | 0
U.S. Dollar Denominated Unsecured Notes | 3.95% due April 15, 2022 | Long-Term Debt |  |  |  |  |  |  |  |  |  |
Disclosure of detailed information about borrowings [line items] |  |  |  |  |  |  |  |  |  |
Long-term debt, interest rate |  |  |  |  |  | 3.95% |  |  |  |
U.S. Dollar Denominated Unsecured Notes | 4.00% due April 15, 2024 | Long-Term Debt |  |  |  |  |  |  |  |  |  |
Disclosure of detailed information about borrowings [line items] |  |  |  |  |  |  |  |  |  |
Long-term debt, interest rate | 4.00% |  |  | 4.00% | 4.00% | 4.00% |  |  |  |
Total debt principal | $ 341 | $ 0 |  |  | $ 269 |  |  |  |  | $ 0
U.S. Dollar Denominated Unsecured Notes | The Arrangement |  |  |  |  |  |  |  |  |  |
Disclosure of detailed information about borrowings [line items] |  |  |  |  |  |  |  |  |  |
Long-term debt, fair value |  |  |  |  |  |  |  | 3,400 |  |
Long-Term Debt |  |  |  |  |  |  |  | $ 3,000 | $ 2,400 |
Senior Unsecured Notes |  |  |  |  |  |  |  |  |  |
Disclosure of detailed information about borrowings [line items] |  |  |  |  |  |  |  |  |  |
Long-Term Debt |  |  |  |  |  |  | $ 1,250 |  |  |
Senior unsecured notes, 2.65%, maturing January 15, 2032 |  |  |  |  |  |  |  |  |  |
Disclosure of detailed information about borrowings [line items] |  |  |  |  |  |  |  |  |  |
Long-Term Debt |  |  |  |  |  |  | $ 500 |  |  |
Long-term debt, interest rate |  |  |  |  |  |  | 2.65% |  |  |
Senior unsecured notes, 3.75%, maturing February 15, 2052 |  |  |  |  |  |  |  |  |  |
Disclosure of detailed information about borrowings [line items] |  |  |  |  |  |  |  |  |  |
Long-Term Debt |  |  |  |  |  |  | $ 750 |  |  |
Long-term debt, interest rate |  |  |  |  |  |  | 3.75% |  |  |
Unsecured notes, 3.95%, maturing 2022 |  |  |  |  |  |  |  |  |  |
Disclosure of detailed information about borrowings [line items] |  |  |  |  |  |  |  |  |  |
Long-term debt, interest rate |  |  |  |  |  | 3.95% |  |  |  |
Principal amount of debt repayments |  |  |  |  |  | $ 500 |  |  |  |
Unsecured notes, 3.00%, maturing 2022 |  |  |  |  |  |  |  |  |  |
Disclosure of detailed information about borrowings [line items] |  |  |  |  |  |  |  |  |  |
Long-term debt, interest rate |  |  |  |  |  | 3.00% |  |  |  |
Principal amount of debt repayments |  |  |  |  |  | $ 500 |  |  |  |
Unsecured notes, 3.80%, maturing 2023 |  |  |  |  |  |  |  |  |  |
Disclosure of detailed information about borrowings [line items] |  |  |  |  |  |  |  |  |  |
Long-term debt, interest rate |  |  |  |  |  | 3.80% |  |  |  |
Principal amount of debt repayments |  |  |  |  |  | $ 335 |  |  |  |
Unsecured notes, 4.00%, maturing 2024 |  |  |  |  |  |  |  |  |  |
Disclosure of detailed information about borrowings [line items] |  |  |  |  |  |  |  |  |  |
Long-term debt, interest rate |  |  |  |  |  | 4.00% |  |  |  |
Principal amount of debt repayments |  |  |  |  |  | $ 481 |  |  |  |
Unsecured notes, 5.38%, maturing 2025 |  |  |  |  |  |  |  |  |  |
Disclosure of detailed information about borrowings [line items] |  |  |  |  |  |  |  |  |  |
Long-term debt, interest rate |  |  |  |  |  | 5.38% |  |  |  |
Principal amount of debt repayments |  |  |  |  |  | $ 334 |  |  |  |

X
- Definition Borrowings, Fair Value + References No definition available. + Details
Name: | cve_BorrowingsFairValue
Namespace Prefix: | cve_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Borrowings, Repayments of Principal + References No definition available. + Details
Name: | cve_BorrowingsRepaymentsOfPrincipal
Namespace Prefix: | cve_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition The amount of outstanding funds that the entity is obligated to repay. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2021-01-01 -Paragraph 55 -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2021-en-r&anchor=para_55&doctype=Standard -URIDate 2021-03-24 + Details
Name: | ifrs-full_Borrowings
Namespace Prefix: | ifrs-full_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition The interest rate on borrowings. [Refer: Borrowings] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IFRS -Number 7 -IssueDate 2021-01-01 -Paragraph 7 -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2021-en-r&anchor=para_7&doctype=Standard -URIDate 2021-03-24 + Details
Name: | ifrs-full_BorrowingsInterestRate
Namespace Prefix: | ifrs-full_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table. + References No definition available. + Details
Name: | ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems
Namespace Prefix: | ifrs-full_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The nominal or face amount of a financial instrument, used to calculate payments made on that instrument. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2021-01-01 -Paragraph 112 -Subparagraph c -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2021-en-r&anchor=para_112_c&doctype=Standard -URIDate 2021-03-24 + Details
Name: | ifrs-full_NotionalAmount
Namespace Prefix: | ifrs-full_
Data Type: | xbrli:monetaryItemType
Balance Type: | na
Period Type: | instant

X
- Definition The cash outflow for repayments of non-current borrowings. [Refer: Borrowings] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 7 -IssueDate 2021-01-01 -Paragraph 17 -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=7&code=ifrs-tx-2021-en-r&anchor=para_17&doctype=Standard -URIDate 2021-03-24 + Details
Name: | ifrs-full_RepaymentsOfNoncurrentBorrowings
Namespace Prefix: | ifrs-full_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Details
Name: | ifrs-full_TypesOfFinancialLiabilitiesAxis=ifrs-full_LongtermBorrowingsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | ifrs-full_BorrowingsByNameAxis=cve_UnsecuredNotesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | ifrs-full_BorrowingsByNameAxis=cve_CanadianDollarDenominatedUnsecuredNotesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | ifrs-full_MaturityAxis=cve_ThreePointFiveFivePercentageDueMarch2025Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | ifrs-full_MaturityAxis=cve_ThreePointSixZeroPercentageDueMarch2027Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | ifrs-full_MaturityAxis=cve_ThreePointFiveZeroPercentageDueFebruary2028Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | cve_DebtInstrumentAxis=cve_TheArrangementMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | ifrs-full_BorrowingsByNameAxis=cve_USDollarDenominatedUnsecuredNotesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | ifrs-full_MaturityAxis=cve_SixPointEightZeroPercentageDueSeptemberFifteenTwoThousandThirtySevenMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | ifrs-full_MaturityAxis=cve_FourPointFourZeroPercentageDueAprilFifteenTwoThousandTwentyNineMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | ifrs-full_MaturityAxis=cve_ThreePointNineFivePercentageDueAprilFifteenTwoThousandTwentyTwoMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | ifrs-full_MaturityAxis=cve_FourPointZeroZeroPercentageDueAprilFifteenTwoThousandTwentyFourMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | ifrs-full_BorrowingsByNameAxis=cve_SeniorUnsecuredNotesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | ifrs-full_BorrowingsByNameAxis=cve_SeniorUnsecuredNotes265PercentMaturingJanuary152032Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | ifrs-full_BorrowingsByNameAxis=cve_SeniorUnsecuredNotes375PercentMaturingFebruary152052Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | ifrs-full_BorrowingsByNameAxis=cve_UnsecuredNotes395PercentMaturing2022Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | ifrs-full_BorrowingsByNameAxis=cve_UnsecuredNotes300PercentMaturing2022Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | ifrs-full_BorrowingsByNameAxis=cve_UnsecuredNotes380PercentMaturing2023Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | ifrs-full_BorrowingsByNameAxis=cve_UnsecuredNotes400PercentMaturing2024Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | ifrs-full_BorrowingsByNameAxis=cve_UnsecuredNotes538PercentMaturing2025Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |