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v3.22.4

Property, Plant and Equipment, Net (Tables) | 12 Months Ended
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Dec. 31, 2022
Disclosure of detailed information about property, plant and equipment [abstract] |
Summary of Property, Plant and Equipment |
| Crude Oil and Natural Gas Properties |  | Processing, Transportation and Storage Assets |  | Manufacturing Assets |  | Other Assets (1) |  | Total
COST |  |  |  |  |  |  |  |  |
As at December 31, 2020 | 29,867 |  | 218 |  | 5,671 |  | 1,290 |  | 37,046
Acquisitions (Note 5) | 8,633 |  | — |  | 3,901 |  | 846 |  | 13,380
Additions | 1,368 |  | 9 |  | 1,023 |  | 115 |  | 2,515
Change in Decommissioning Liabilities | (63) |  | 1 |  | 40 |  | 24 |  | 2
Divestitures (Note 10) | (630) |  | — |  | — |  | — |  | (630)
Transfers to Assets Held for Sale (Note 18) | (754) |  | — |  | — |  | (522) |  | (1,276)
Exchange Rate Movements and Other | 22 |  | — |  | (140) |  | (18) |  | (136)
As at December 31, 2021 | 38,443 |  | 228 |  | 10,495 |  | 1,735 |  | 50,901
Acquisitions (Note 5) (2) | 3,230 |  | — |  | — |  | — |  | 3,230
Additions | 2,409 |  | 11 |  | 1,143 |  | 108 |  | 3,671
Change in Decommissioning Liabilities | (186) |  | (6) |  | (29) |  | (32) |  | (253)
Divestitures (Note 5) (2) | (557) |  | — |  | — |  | — |  | (557)
Exchange Rate Movements and Other | 189 |  | 21 |  | 523 |  | 14 |  | 747
As at December 31, 2022 | 43,528 |  | 254 |  | 12,132 |  | 1,825 |  | 57,739
ACCUMULATED DEPRECIATION, DEPLETION AND AMORTIZATION |  |  |  |  |  |  |  |  |
As at December 31, 2020 | 8,361 |  | 42 |  | 2,195 |  | 1,037 |  | 11,635
Depreciation, Depletion and Amortization | 3,335 |  | 10 |  | 526 |  | 128 |  | 3,999
Impairment Charges (Note 11) | — |  | — |  | 1,931 |  | — |  | 1,931
Impairment Reversals (Note 11) | (378) |  | — |  | — |  | — |  | (378)
Divestitures (Note 10) | (377) |  | — |  | — |  | — |  | (377)
Transfers to Assets Held for Sale (Note 18) | (90) |  | — |  | — |  | (24) |  | (114)
Exchange Rate Movements and Other | 61 |  | 1 |  | (80) |  | (2) |  | (20)
As at December 31, 2021 | 10,912 |  | 53 |  | 4,572 |  | 1,139 |  | 16,676
Depreciation, Depletion and Amortization (3) | 3,461 |  | 37 |  | 466 |  | 103 |  | 4,067
Impairment Charges (Note 11) | — |  | — |  | 1,499 |  | — |  | 1,499
Impairment Reversals (Note 11) | — |  | — |  | (1,233) |  | — |  | (1,233)
Divestitures (Note 5) (2) | (84) |  | — |  | — |  | — |  | (84)
Exchange Rate Movements and Other | 13 |  | 16 |  | 243 |  | 43 |  | 315
As at December 31, 2022 | 14,302 |  | 106 |  | 5,547 |  | 1,285 |  | 21,240
CARRYING VALUE |  |  |  |  |  |  |  |  |
As at December 31, 2020 | 21,506 |  | 176 |  | 3,476 |  | 253 |  | 25,411
As at December 31, 2021 | 27,531 |  | 175 |  | 5,923 |  | 596 |  | 34,225
As at December 31, 2022 | 29,226 |  | 148 |  | 6,585 |  | 540 |  | 36,499
(1)Includes assets within the commercial and retail fuels businesses, office furniture, fixtures, leasehold improvements, information technology and aircraft. (2)In connection with the Sunrise 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 August 31, 2022, the carrying value of the pre-existing interest in SOSP’s PP&E was $454 million. (3)DD&A includes asset write-downs of $26 million in the Offshore segment and $25 million in the Canadian Manufacturing segment.
Disclosure Of Property Plant And Equipment Under Construction Explanatory | PP&E includes the following amounts in respect of assets under construction and are not subject to DD&A:
As at December 31, | 2022 |  | 2021
Development and Production | 2,142 |  | 2,415
Downstream | 137 |  | 943
| 2,279 |  | 3,358

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