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v3.23.3

Prior Period Revisions | 9 Months Ended
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Sep. 30, 2023
Corporate information and statement of IFRS compliance [abstract] |
Prior Period Revisions |
26. PRIOR PERIOD REVISIONS
Certain comparative information presented in the Consolidated Statements of Earnings (Loss) and segment disclosures was revised. Classification Revisions During the three months ended September 30, 2023, the Company made adjustments to ensure the consistent treatment of sales between segments and to correct the elimination of these transactions on consolidation. The following adjustments were made: •Report Conventional segment sales between segments on a gross basis, which resulted in a reclassification between gross sales and transportation and blending expense. •Report sales of feedstock between the Oil Sands, Conventional and U.S. Manufacturing segments on a net basis, which resulted in a reclassification between gross sales and purchased product. Offsetting adjustments were made to the Corporate and Eliminations segment. The above items had no impact to net earnings (loss), operating margin, segment income (loss), cash flows or financial position. It was also identified that the elimination of sales of diluent, natural gas and associated transportation costs between segments were recorded to the incorrect line item in the Corporate and Eliminations segment. The adjustment resulted in an understatement of operating expense, overstatement of purchased product and an overstatement of transportation and blending expense on the Consolidated Statements of Earnings (Loss). There was no impact to net earnings (loss), operating margin, segment income (loss), cash flows or financial position. Change to Reporting Segments In September 2022, the Company completed the divestiture of the majority of the retail fuels business. In December 2022, Management elected to aggregate the remaining commercial fuels business and the historical retail fuels business into the Canadian Manufacturing segment. Comparative periods were reclassified to reflect this change, with no impact to net earnings (loss), cash flows or financial position. The following tables reconcile the amounts previously reported in the Consolidated Statements of Earnings (Loss) and segmented disclosures to the corresponding revised amounts: i) Three Months Ended March 31, 2023, and June 30, 2023
| Three Months Ended March 31, 2023 (1) |  | Three Months Ended June 30, 2023 (2)
Oil Sands Segment | Previously Reported |  | Revisions |  | Revised Balance |  | Previously Reported |  | Revisions |  | Revised Balance
Gross Sales | 5,911 |  |  | (204) |  |  | 5,707 |  | 6,556 |  |  | (119) |  |  | 6,437
Purchased Product | 559 |  |  | (204) |  |  | 355 |  |  | 533 |  |  | (119) |  |  | 414 |
| 5,352 |  |  | — |  |  | 5,352 |  |  | 6,023 |  |  | — |  |  | 6,023 |
Conventional Segment |  |  |  |  |  |  |  |
Gross Sales | 1,031 |  |  | 6 |  |  | 1,037 |  | 615 |  |  | 5 |  |  | 620 |
Purchased Product | 510 |  |  | (27) |  |  | 483 |  |  | 352 |  |  | (15) |  |  | 337 |
Transportation and Blending | 48 |  |  | 33 |  |  | 81 |  |  | 46 |  |  | 20 |  |  | 66 |
| 473 |  |  | — |  |  | 473 |  |  | 217 |  |  | — |  |  | 217 |
U.S. Manufacturing Segment |  |  |  |  |  |  |  |
Gross Sales | 5,860 |  |  | (231) |  |  | 5,629 |  |  | 6,198 |  |  | (134) |  |  | 6,064 |
Purchased Product | 5,129 |  |  | (231) |  |  | 4,898 |  |  | 5,498 |  |  | (134) |  |  | 5,364 |
| 731 |  | — |  | 731 |  | 700 |  | — |  |  | 700
Corporate and Eliminations Segment |  |  |  |  |  |  |  |
Gross Sales | (1,925) |  |  | 429 |  |  | (1,496) |  |  | (2,092) |  |  | 248 |  |  | (1,844) |
Purchased Product | (1,499) |  |  | 479 |  |  | (1,020) |  |  | (1,757) |  |  | 287 |  |  | (1,470) |
Transportation and Blending | (141) |  |  | (134) |  |  | (275) |  |  | (109) |  |  | (98) |  |  | (207) |
Operating | (231) |  |  | 84 |  |  | (147) |  |  | (185) |  |  | 59 |  |  | (126) |
| (54) |  | — |  | (54) |  | (41) |  | — |  | (41)
Consolidated |  |  |  |  |  |  |  |
Purchased Product | 5,792 |  |  | 17 |  |  | 5,809 |  |  | 5,709 |  |  | 19 |  |  | 5,728 |
Transportation and Blending | 2,853 |  |  | (101) |  |  | 2,752 |  |  | 2,641 |  |  | (78) |  |  | 2,563 |
Operating | 1,552 |  |  | 84 |  |  | 1,636 |  |  | 1,541 |  |  | 59 |  |  | 1,600 |
| 10,197 |  | — |  | 10,197 |  | 9,891 |  | — |  | 9,891
(1)Includes revisions to gross sales and purchased product of $204 million in the Oil Sands segment, $27 million in the Conventional segment and $231 million in the U.S. Manufacturing segment related to sales of feedstock between these segments resulting from changing volume requirements on a net basis with an offsetting adjustment to the Corporate and Eliminations segment. (2)Includes revisions to gross sales and purchased product of $119 million in the Oil Sands segment, $15 million in the Conventional segment and $134 million in the U.S. Manufacturing segment for the reasons noted above. ii) Three and Nine Months Ended September 30, 2022
| Three Months Ended September 30, 2022 |  | Nine Months Ended September 30, 2022
Oil Sands Segment | Previously Reported |  | Revisions |  | Segment Aggregation |  | Revised Balance |  | Previously Reported |  | Revisions |  | Segment Aggregation |  | Revised Balance
Gross Sales | 8,778 |  |  | (14) |  |  | — |  | 8,764 |  | 28,044 |  |  | (14) |  |  | — |  |  | 28,030 |
Purchased Product | 1,933 |  |  | (14) |  |  | — |  |  | 1,919 |  |  | 4,216 |  |  | (14) |  |  | — |  |  | 4,202 |
| 6,845 |  |  | — |  |  | — |  |  | 6,845 |  |  | 23,828 |  |  | — |  |  | — |  |  | 23,828 |
Conventional Segment |  |  |  |  |  |  |  |  |  |
Gross Sales | 1,010 |  |  | 26 |  |  | — |  | 1,036 |  | 3,201 |  |  | 85 |  |  | — |  |  | 3,286 |
Transportation and Blending | 38 |  |  | 26 |  |  | — |  |  | 64 |  |  | 106 |  |  | 85 |  |  | — |  |  | 191 |
| 972 |  |  | — |  |  | — |  |  | 972 |  |  | 3,095 |  |  | — |  |  | — |  |  | 3,095 |
Canadian Manufacturing Segment |  |  |  |  |  |  |  |  |  |
Gross Sales | 1,478 |  |  | — |  |  | 690 |  | 2,168 |  | 4,043 |  |  | — |  |  | 1,977 |  |  | 6,020 |
Purchased Product | 1,092 |  |  | 3 |  |  | 655 |  |  | 1,750 |  |  | 3,192 |  |  | 3 |  |  | 1,870 |  |  | 5,065 |
Transportation and Blending | 3 |  |  | (3) |  |  | — |  |  | — |  |  | 3 |  |  | (3) |  |  | — |  |  | — |
Operating | 134 |  |  | — |  |  | 38 |  |  | 172 |  |  | 438 |  |  | — |  |  | 96 |  |  | 534 |
Depreciation, Depletion and Amortization | 37 |  |  | — |  |  | 5 |  |  | 42 |  |  | 143 |  |  | — |  |  | 21 |  |  | 164 |
| 212 |  |  | — |  |  | (8) |  |  | 204 |  |  | 267 |  |  | — |  |  | (10) |  |  | 257 |
U.S. Manufacturing Segment |  |  |  |  |  |  |  |  |  |
Gross Sales | 8,719 |  |  | (14) |  |  | — |  |  | 8,705 |  |  | 23,702 |  |  | (14) |  |  | — |  |  | 23,688 |
Purchased Product | 7,944 |  |  | (14) |  |  | — |  |  | 7,930 |  |  | 20,365 |  |  | (14) |  |  | — |  |  | 20,351 |
| 775 |  | — |  | — |  |  | 775 |  | 3,337 |  |  | — |  |  | — |  |  | 3,337
Retail Segment |  |  |  |  |  |  |  |  |  |
Gross Sales | 881 |  |  | — |  |  | (881) |  |  | — |  |  | 2,424 |  |  | — |  |  | (2,424) |  |  | — |
Purchased Product | 846 |  |  | — |  |  | (846) |  |  | — |  |  | 2,317 |  |  | — |  |  | (2,317) |  |  | — |
Operating | 38 |  |  | — |  |  | (38) |  |  | — |  |  | 96 |  |  | — |  |  | (96) |  |  | — |
Depreciation, Depletion and Amortization | 5 |  |  | — |  |  | (5) |  |  | — |  |  | 21 |  |  | — |  |  | (21) |  |  | — |
| (8) |  | — |  |  | 8 |  |  | — |  |  | (10) |  |  | — |  |  | 10 |  |  | — |
Corporate and Eliminations Segment |  |  |  |  |  |  |  |  |  |
Gross Sales | (2,619) |  |  | 2 |  |  | 191 |  |  | (2,426) |  |  | (6,162) |  |  | (57) |  |  | 447 |  |  | (5,772) |
Purchased Product | (2,267) |  |  | 65 |  |  | 191 |  |  | (2,011) |  |  | (4,660) |  |  | 173 |  |  | 447 |  |  | (4,040) |
Transportation and Blending | (119) |  |  | (128) |  |  | — |  |  | (247) |  |  | (528) |  |  | (383) |  |  | — |  |  | (911) |
Operating | (256) |  |  | 65 |  |  | — |  |  | (191) |  |  | (918) |  |  | 153 |  |  | — |  |  | (765) |
| 23 |  | — |  | — |  |  | 23 |  | (56) |  | — |  | — |  |  | (56)
Consolidated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Purchased Product | 10,012 |  |  | 40 |  |  | — |  |  | 10,052 |  |  | 26,890 |  |  | 148 |  |  | — |  |  | 27,038 |
Transportation and Blending | 2,684 |  |  | (105) |  |  | — |  |  | 2,579 |  |  | 8,707 |  |  | (301) |  |  | — |  |  | 8,406 |
Operating | 1,439 |  |  | 65 |  |  | — |  |  | 1,504 |  |  | 4,207 |  |  | 153 |  |  | — |  |  | 4,360 |
| 14,135 |  | — |  | — |  |  | 14,135 |  | 39,804 |  | — |  | — |  |  | 39,804

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