XML 48 R22.htm IDEA: XBRL DOCUMENT
v3.23.3

Decommissioning Liabilities | 9 Months Ended
--- | ---
Sep. 30, 2023
Provision for decommissioning, restoration and rehabilitation costs [abstract] |
Decommissioning Liabilities |
16. DECOMMISSIONING LIABILITIES
| Total
As at December 31, 2022 | 3,559
Liabilities Incurred | 12
Liabilities Acquired (Note 3) (1) | 5
Liabilities Settled | (156)
Liabilities Disposed (Note 3) (1) | (5)
Change in Estimated Future Cash Flows | 32
Unwinding of Discount on Decommissioning Liabilities (Note 4) | 165
Exchange Rate Movements | (9)
As at September 30, 2023 | 3,603
(1)In connection with the Toledo Acquisition, Cenovus was deemed to have disposed of its pre-existing interest and reacquired it at fair value as required by IFRS 3. As at February 28, 2023, the carrying value of the pre-existing interest in Toledo’s decommissioning liabilities w as $2 million. As at September 30, 2023, the undiscounted amount of estimated future cash flows required to settle the obligation was discounted using a credit-adjusted risk-free rate of 6.1 percent (December 31, 2022 – 6.1 percent) and assumes an inflation rate of two percent (December 31, 2022 – two percent). The Company deposits cash into restricted accounts that will be used to fund decommissioning liabilities in offshore China in accordance with the provisions of the regulations of the People’s Republic of China. As at September 30, 2023, the Company had $209 million in restricted cash (December 31, 2022 – $209 million).

X
- Definition The entire disclosure for other provisions, contingent liabilities and contingent assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 37 -IssueDate 2023-01-01 -Section Disclosure -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=37&code=ifrs-tx-2023-en-r&doctype=Standard&dita_xref=IAS37_g84-92_TI -URIDate 2023-03-23 + Details
Name: | ifrs-full_DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | ifrs-full_ProvisionForDecommissioningRestorationAndRehabilitationCostsAbstract
Namespace Prefix: | ifrs-full_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration