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Description of Business and Segmented Disclosures (Tables)
12 Months Ended
Dec. 31, 2021
Disclosure Of Reportable Segments [Abstract]  
Schedule of Segment and Operational Information
A) Results of Operations – Segment and Operational Information (1)
Upstream
Oil SandsConventionalOffshoreTotal
For the years ended
December 31,
2021
2020 (2)
2019 (2)
2021202020192021202020192021
2020 (2)
2019 (2)
Revenues
Gross Sales22,8278,80413,1013,2359049351,78227,8449,70814,036
Less: Royalties (3)
2,1963311,14315040301082,4543711,173
20,6318,47311,9583,0858649051,67425,3909,33712,863
Expenses
Purchased Product (3)
3,1881,2622,2311,6552682404,8431,5302,471
     Transportation and
   Blending (3)
7,8414,6835,152748182157,9304,7645,234
     Operating (3)
2,4511,1561,0675513203392393,2411,4761,406
Realized (Gain) Loss on Risk
   Management
78626823278826823
Operating Margin6,3651,1043,4858031952441,4208,5881,2993,729
Unrealized (Gain) Loss on
   Risk Management
1857921195792
Depreciation, Depletion and
   Amortization
2,6661,6871,54338803194923,1612,5671,862
Exploration Expense16918(3)82645189182
(Income) Loss From Equity-
   Accounted Affiliates
(5)(47)(52)
Segment Income (Loss)3,670(649)1,832802(767)(139)9705,442(1,416)1,693
(1)Prior period results have been reclassified to conform with the current period’s operating segments.
(2)Prior period results have been adjusted for the change in presentation of product swaps and certain third-party purchases used in blending and optimization activities (see Note 3(w)).
(3)Inventory write-downs prior to January 1, 2021, have been reclassified to royalties, purchased product, transportation and blending or operating expenses to conform with the current presentation of inventory write-downs.
Downstream
For the years ended
December 31,
Canadian ManufacturingU.S. ManufacturingRetailTotal
202120202019202120202019202120202019202120202019
Revenues
Gross Sales4,472827720,0434,7338,2912,15826,6734,8158,368
Less: Royalties (1)
4,472827720,0434,7338,2912,15826,6734,8158,368
Expenses
Purchased Product (1)
3,55217,9554,4296,7352,01923,5264,4296,735
     Transportation and
   Blending (1)
     Operating (1)
38837411,772748877982,258785918
Realized (Gain) Loss on Risk
   Management
104(21)(16)104(21)(16)
Operating Margin5324536212(423)69541785(378)731
Unrealized (Gain) Loss on
   Risk Management
1(1)11(1)1
Depreciation, Depletion and
   Amortization
167872,381728273592,607736280
Exploration Expense
(Income) Loss From Equity-
   Accounted Affiliates
Segment Income (Loss)3653729(2,170)(1,150)421(18)(1,823)(1,113)450
(1)Inventory write-downs prior to January 1, 2021, have been reclassified to royalties, purchased product, transportation and blending or operating expenses to conform with the current presentation of inventory write-downs.
Corporate and EliminationsConsolidated
For the years ended December 31,2021202020192021
2020 (1)
2019 (1)
Revenues
Gross Sales(5,706)(609)(689)48,81113,91421,715
Less: Royalties (2)
2,4543711,173
(5,706)(609)(689)46,35713,54320,542
Expenses
Purchased Product (2)
(4,888)(278)(417)23,4815,6818,789
     Transportation and Blending (2)
(47)(36)(50)7,8834,7285,184
     Operating (2)
(783)(306)(236)4,7161,9552,088
Realized (Gain) Loss on Risk Management10159932527
Unrealized (Gain) Loss on Risk
   Management
(18)56256149
Depreciation, Depletion and Amortization1181611075,8863,4642,249
Exploration Expense189182
(Income) Loss From Equity-Accounted
   Affiliates
(5)(57)
Segment Income (Loss)(184)(155)(149)3,435(2,684)1,994
General and Administrative849292331849292331
Finance Costs1,0825365111,082536511
Interest Income(23)(9)(12)(23)(9)(12)
Integration Costs3492934929
Foreign Exchange (Gain) Loss, Net(174)(181)(404)(174)(181)(404)
Re-measurement of Contingent Payment575(80)164575(80)164
(Gain) Loss on Divestiture of Assets(229)(81)(2)(229)(81)(2)
Other (Income) Loss, Net(309)409(309)409
2,1205465972,120546597
Earnings (Loss) Before Income Tax1,315(3,230)1,397
Income Tax Expense (Recovery)728(851)(797)
Net Earnings (Loss)587(2,379)2,194
(1)Prior period results have been adjusted for the change in presentation of product swaps and certain third-party purchases used in blending and optimization activities (see Note 3(w)).
(2)Inventory write-downs prior to January 1, 2021, have been reclassified to royalties, purchased product, transportation and blending or operating expenses to conform with the current presentation of inventory write-downs.
Schedule of Revenues by Product
B) Revenues by Product (1)
For the years ended December 31,202120202019
Upstream (2)
Crude Oil19,0518,55712,091
NGLs2,809186227
Natural Gas3,032535480
Other4985865
Downstream
Canadian Manufacturing
Synthetic Crude Oil1,951
Diesel and Distillate407
Asphalt477
Other Products and Services1,6378277
U.S. Manufacturing
Gasoline10,1112,3523,880
Diesel and Distillate6,4291,5693,127
Other Products3,5038131,284
Retail2,158
Corporate and Eliminations(5,706)(609)(689)
Consolidated46,35713,54320,542
(1)     Prior period results have been reclassified to conform with the current period’s operating segments.
Schedule of Geographical Information
C) Geographical Information
Revenues (1)
For the years ended December 31,202120202019
Canada (2)
23,7688,71512,160
United States21,3264,8288,382
China1,263
Consolidated46,35713,54320,542
(1)Revenues by country are classified based on where the operations are located.
(2)Prior period results have been adjusted for the change in presentation of product swaps and certain third-party purchases used in blending and optimization activities (see Note 3(w)).
Non-Current Assets (1)
As at December 31, 20212020
Canada (2)
33,91526,041
United States4,0933,590
China2,583
Indonesia311
Consolidated40,90229,631
(1)Includes exploration and evaluation (“E&E”) assets, property, plant and equipment (“PP&E”), right-of-use (“ROU”) assets, investments in equity-accounted affiliates, precious metals, intangible assets and goodwill.
(2)Excludes assets of $552 million in the Retail segment, $593 million in the Oil Sands segment and $159 million in the Conventional segment that have been reclassified as held for sale in current assets.
Schedule of Assets by Segment
D) Assets by Segment (1)
E&E AssetsPP&EROU Assets
As at December 31, 202120202021202020212020
Oil Sands65361722,53519,748754196
Conventional662,1741,75823
Offshore612,822160
Canadian Manufacturing2,353176339392
U.S. Manufacturing3,7453,476252114
Retail20549
Corporate and Eliminations391253454434
Consolidated72062334,22525,4112,0101,139
GoodwillTotal Assets
As at December 31, 2021202020212020
Oil Sands (2)
3,4732,27231,07024,641
Conventional (2)
3,0261,978
Offshore3,597
Canadian Manufacturing2,918578
U.S. Manufacturing7,7774,363
Retail (2)
966
Corporate and Eliminations4,7501,210
Consolidated3,4732,27254,10432,770
(1)     Prior period results have been reclassified to conform with the current period’s operating segments.
(2)Total assets include assets held for sale of $552 million in the Retail segment, $593 million in the Oil Sands segment and $159 million in the Conventional segment.
Schedule of Capital Expenditures
E) Capital Expenditures (1) (2)
For the years ended December 31,202120202019
Capital Investment
Oil Sands1,019427656
Conventional22278103
Offshore
Asia Pacific21
Atlantic154
Total Upstream 1,416505759
Canadian Manufacturing373352
U.S. Manufacturing995243228
Retail31
Total Downstream1,063276280
Corporate and Eliminations8460137
2,5638411,176
Acquisition Capital
Oil Sands362
Conventional4127
Canadian Manufacturing4
71813
Acquisitions (Note 5)
Oil Sands5,002
Conventional547
Offshore3,129
Canadian Manufacturing2,283
U.S. Manufacturing1,618
Retail690
Corporate and Eliminations156
13,425
Total Capital Expenditures15,9958591,189
(1)Includes expenditures on PP&E, E&E assets and assets held for sale.
(2)Prior period results have been reclassified to conform with the current period’s operating segments.