XML 64 R29.htm IDEA: XBRL DOCUMENT

Other Assets

12 Months Ended

Dec. 31, 2021



21. OTHER ASSETS


As at December 31,	2021		2020
Intangible Assets		78		89
Private Equity Investments (Note 35)		53		52
Other Equity Investments		77		12
Net Investment in Finance Leases		60		52
Long-Term Receivables and Prepaids		77		11
Precious Metals		85		—
Other		1		—
		431		216

On December 2, 2020, Cenovus sold its Marten Hills assets in Northern Alberta to Headwater. Part of the consideration received included 15 million share purchase warrants with a fair value of $8 million at the date of close. The share purchase warrants had a three-year term and an exercise price of $2.00 per share. On December 23, 2021, all of the outstanding share purchase warrants were exercised for a total cost of $30 million. At December 31, 2021, the fair value of the Headwater investment was $77 million included in other equity investments above. The investment is carried at FVTPL.