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Description of Business and Segmented Disclosures - Schedule of Segment and Operational Information (Detail) - CAD ($) $ in Millions | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2024 | Sep. 30, 2023 | Sep. 30, 2024 | Sep. 30, 2023
Revenues |  |  |  |  |
Gross Sales |  | $ 15,178 | $ 15,712 | $ 45,066 | $ 41,438
Less: Royalties |  | (929) | (1,135) | (2,535) | (2,368)
Consolidated |  | 14,249 | 14,577 | 42,531 | 39,070
Expenses |  |  |  |  |
Purchased Product |  | 7,556 | 6,620 | 20,873 | 18,157
Transportation and Blending |  | 2,489 | 2,164 | 7,929 | 7,479
Purchased product, transportation and blending | [1] | 10,045 | 8,784 | 28,802 | 25,636
Operating |  | 1,736 | 1,553 | 5,214 | 4,789
(Gain) Loss on Risk Management |  | (20) | 72 | 42 | 89
Depreciation, Depletion and Amortization |  | 1,218 | 1,197 | 3,646 | 3,374
Exploration Expense |  | 44 | 2 | 56 | 10
(Income) Loss From Equity-Accounted Affiliates |  | (11) | (11) | (48) | (23)
Segment Income (Loss) |  | 1,237 | 2,980 | 4,819 | 5,195
General and Administrative |  | 172 | 292 | 593 | 617
Finance costs | [1] | 118 | 73 | 394 | 393
Integration, Transaction and Other Costs |  | 41 | 12 | 113 | 49
Foreign Exchange (Gain) Loss, Net |  | (73) | 133 | 81 | 7
(Gain) loss on divestiture of asset |  | (17) | 0 | (121) | 22
Re-measurement of Contingent Payments |  | 0 | 67 | 30 | 83
Gains (losses) on divestiture of assets | [1] | (17) | 0 | (121) | 22
Other (Income) Loss, Net |  | (28) | (22) | (158) | (42)
Total Non-operating (Income) Expense |  | 213 | 555 | 932 | 1,129
Earnings (Loss) Before Income Tax |  | 1,024 | 2,425 | 3,887 | 4,066
Income Tax Expense (Recovery) |  | 204 | 561 | 891 | 700
Net Earnings (Loss) |  | 820 | 1,864 | 2,996 | 3,366
External Sales |  |  |  |  |
Revenues |  |  |  |  |
Gross Sales |  | 15,178 | 15,712 | 45,066 | 41,438
Intersegment Sales |  |  |  |  |
Revenues |  |  |  |  |
Gross Sales |  | 0 | 0 | 0 | 0
Realized (Gain) Loss |  |  |  |  |
Expenses |  |  |  |  |
(Gain) Loss on Risk Management |  | (27) | 0 | 11 | 1
Unrealized (Gain) Loss on Risk Management |  |  |  |  |
Expenses |  |  |  |  |
(Gain) Loss on Risk Management |  | 7 | 72 | 31 | 88
Upstream |  |  |  |  |
Revenues |  |  |  |  |
Gross Sales |  | 8,259 | 8,783 | 24,838 | 23,285
Less: Royalties |  | (929) | (1,135) | (2,535) | (2,368)
Consolidated |  | 7,330 | 7,648 | 22,303 | 20,917
Expenses |  |  |  |  |
Purchased Product |  | 1,088 | 900 | 2,674 | 2,489
Transportation and Blending |  | 2,661 | 2,397 | 8,515 | 8,194
Operating |  | 860 | 914 | 2,647 | 2,826
Operating Margin |  | 2,731 | 3,447 | 8,451 | 7,415
Depreciation, Depletion and Amortization |  | 1,027 | 1,019 | 3,081 | 2,865
Exploration Expense |  | 44 | 2 | 56 | 10
(Income) Loss From Equity-Accounted Affiliates |  | (11) | (11) | (47) | (23)
Segment Income (Loss) |  | 1,670 | 2,383 | 5,364 | 4,533
Upstream | External Sales |  |  |  |  |
Revenues |  |  |  |  |
Gross Sales |  | 6,052 | 6,332 | 18,590 | 17,917
Upstream | Intersegment Sales |  |  |  |  |
Revenues |  |  |  |  |
Gross Sales |  | 2,207 | 2,451 | 6,248 | 5,368
Upstream | Realized (Gain) Loss |  |  |  |  |
Expenses |  |  |  |  |
(Gain) Loss on Risk Management |  | (10) | (10) | 16 | (7)
Upstream | Unrealized (Gain) Loss on Risk Management |  |  |  |  |
Expenses |  |  |  |  |
(Gain) Loss on Risk Management |  | 1 | 54 | (3) | 30
Downstream |  |  |  |  |
Revenues |  |  |  |  |
Gross Sales |  | 9,228 | 9,658 | 26,848 | 24,222
Less: Royalties |  | 0 | 0 | 0 | 0
Consolidated |  | 9,228 | 9,658 | 26,848 | 24,222
Expenses |  |  |  |  |
Purchased Product |  | 8,637 | 7,947 | 23,955 | 20,385
Transportation and Blending |  | 0 | 0 | 0 | 0
Operating |  | 918 | 778 | 2,804 | 2,375
Operating Margin |  | (323) | 922 | 84 | 1,456
Depreciation, Depletion and Amortization |  | 164 | 159 | 485 | 450
Exploration Expense |  | 0 | 0 | 0 | 0
(Income) Loss From Equity-Accounted Affiliates |  | 0 | 0 | 0 | 0
Segment Income (Loss) |  | (492) | 765 | (404) | 1,019
Downstream | External Sales |  |  |  |  |
Revenues |  |  |  |  |
Gross Sales |  | 9,126 | 9,380 | 26,476 | 23,521
Downstream | Intersegment Sales |  |  |  |  |
Revenues |  |  |  |  |
Gross Sales |  | 102 | 278 | 372 | 701
Downstream | Realized (Gain) Loss |  |  |  |  |
Expenses |  |  |  |  |
(Gain) Loss on Risk Management |  | 4 | (11) | 5 | 6
Downstream | Unrealized (Gain) Loss on Risk Management |  |  |  |  |
Expenses |  |  |  |  |
(Gain) Loss on Risk Management |  | (5) | 2 | 3 | (13)
Oil Sands | Upstream |  |  |  |  |
Revenues |  |  |  |  |
Gross Sales |  | 7,175 | 7,571 | 21,356 | 19,715
Less: Royalties |  | (889) | (1,082) | (2,400) | (2,218)
Consolidated |  | 6,286 | 6,489 | 18,956 | 17,497
Expenses |  |  |  |  |
Purchased Product |  | 629 | 462 | 1,321 | 1,231
Transportation and Blending |  | 2,579 | 2,324 | 8,265 | 7,965
Operating |  | 621 | 688 | 1,896 | 2,101
Operating Margin |  | 2,467 | 3,021 | 7,451 | 6,207
Depreciation, Depletion and Amortization |  | 784 | 785 | 2,330 | 2,230
Exploration Expense |  | 2 | 0 | 6 | 4
(Income) Loss From Equity-Accounted Affiliates |  | 0 | 0 | (14) | 6
Segment Income (Loss) |  | 1,682 | 2,189 | 5,142 | 3,923
Oil Sands | Upstream | External Sales |  |  |  |  |
Revenues |  |  |  |  |
Gross Sales |  | 5,456 | 5,645 | 16,525 | 15,654
Oil Sands | Upstream | Intersegment Sales |  |  |  |  |
Revenues |  |  |  |  |
Gross Sales |  | 1,719 | 1,926 | 4,831 | 4,061
Oil Sands | Upstream | Realized (Gain) Loss |  |  |  |  |
Expenses |  |  |  |  |
(Gain) Loss on Risk Management |  | (10) | (6) | 23 | (7)
Oil Sands | Upstream | Unrealized (Gain) Loss on Risk Management |  |  |  |  |
Expenses |  |  |  |  |
(Gain) Loss on Risk Management |  | (1) | 47 | (13) | 44
Conventional |  |  |  |  |
Expenses |  |  |  |  |
Gains (losses) on divestiture of assets |  |  |  | (52) |
Conventional | Upstream |  |  |  |  |
Revenues |  |  |  |  |
Gross Sales |  | 713 | 810 | 2,283 | 2,467
Less: Royalties |  | (15) | (27) | (61) | (85)
Consolidated |  | 698 | 783 | 2,222 | 2,382
Expenses |  |  |  |  |
Purchased Product |  | 459 | 438 | 1,353 | 1,258
Transportation and Blending |  | 80 | 73 | 241 | 220
Operating |  | 147 | 150 | 432 | 444
Operating Margin |  | 12 | 126 | 203 | 460
Depreciation, Depletion and Amortization |  | 109 | 104 | 330 | 286
Exploration Expense |  | 0 | 0 | 0 | 0
(Income) Loss From Equity-Accounted Affiliates |  | 0 | 0 | 1 | 0
Segment Income (Loss) |  | (99) | 15 | (138) | 188
Conventional | Upstream | External Sales |  |  |  |  |
Revenues |  |  |  |  |
Gross Sales |  | 225 | 285 | 866 | 1,160
Conventional | Upstream | Intersegment Sales |  |  |  |  |
Revenues |  |  |  |  |
Gross Sales |  | 488 | 525 | 1,417 | 1,307
Conventional | Upstream | Realized (Gain) Loss |  |  |  |  |
Expenses |  |  |  |  |
(Gain) Loss on Risk Management |  | 0 | (4) | (7) | 0
Conventional | Upstream | Unrealized (Gain) Loss on Risk Management |  |  |  |  |
Expenses |  |  |  |  |
(Gain) Loss on Risk Management |  | 2 | 7 | 10 | (14)
Offshore | Upstream |  |  |  |  |
Revenues |  |  |  |  |
Gross Sales |  | 371 | 402 | 1,199 | 1,103
Less: Royalties |  | (25) | (26) | (74) | (65)
Consolidated |  | 346 | 376 | 1,125 | 1,038
Expenses |  |  |  |  |
Purchased Product |  | 0 | 0 | 0 | 0
Transportation and Blending |  | 2 | 0 | 9 | 9
Operating |  | 92 | 76 | 319 | 281
Operating Margin |  | 252 | 300 | 797 | 748
Depreciation, Depletion and Amortization |  | 134 | 130 | 421 | 349
Exploration Expense |  | 42 | 2 | 50 | 6
(Income) Loss From Equity-Accounted Affiliates |  | (11) | (11) | (34) | (29)
Segment Income (Loss) |  | 87 | 179 | 360 | 422
Offshore | Upstream | External Sales |  |  |  |  |
Revenues |  |  |  |  |
Gross Sales |  | 371 | 402 | 1,199 | 1,103
Offshore | Upstream | Intersegment Sales |  |  |  |  |
Revenues |  |  |  |  |
Gross Sales |  | 0 | 0 | 0 | 0
Offshore | Upstream | Realized (Gain) Loss |  |  |  |  |
Expenses |  |  |  |  |
(Gain) Loss on Risk Management |  | 0 | 0 | 0 | 0
Offshore | Upstream | Unrealized (Gain) Loss on Risk Management |  |  |  |  |
Expenses |  |  |  |  |
(Gain) Loss on Risk Management |  | 0 | 0 | 0 | 0
Canadian Refining | Downstream |  |  |  |  |
Revenues |  |  |  |  |
Gross Sales |  | 1,580 | 1,805 | 4,047 | 4,676
Less: Royalties |  | 0 | 0 | 0 | 0
Consolidated |  | 1,580 | 1,805 | 4,047 | 4,676
Expenses |  |  |  |  |
Purchased Product |  | 1,353 | 1,480 | 3,415 | 3,656
Transportation and Blending |  | 0 | 0 | 0 | 0
Operating |  | 167 | 155 | 759 | 471
Operating Margin |  | 60 | 170 | (127) | 549
Depreciation, Depletion and Amortization |  | 49 | 50 | 147 | 136
Exploration Expense |  | 0 | 0 | 0 | 0
(Income) Loss From Equity-Accounted Affiliates |  | 0 | 0 | 0 | 0
Segment Income (Loss) |  | 11 | 120 | (274) | 413
Canadian Refining | Downstream | External Sales |  |  |  |  |
Revenues |  |  |  |  |
Gross Sales |  | 1,482 | 1,544 | 3,682 | 3,997
Canadian Refining | Downstream | Intersegment Sales |  |  |  |  |
Revenues |  |  |  |  |
Gross Sales |  | 98 | 261 | 365 | 679
Canadian Refining | Downstream | Realized (Gain) Loss |  |  |  |  |
Expenses |  |  |  |  |
(Gain) Loss on Risk Management |  | 0 | 0 | 0 | 0
Canadian Refining | Downstream | Unrealized (Gain) Loss on Risk Management |  |  |  |  |
Expenses |  |  |  |  |
(Gain) Loss on Risk Management |  | 0 | 0 | 0 | 0
U.S Refining | Downstream |  |  |  |  |
Revenues |  |  |  |  |
Gross Sales |  | 7,648 | 7,853 | 22,801 | 19,546
Less: Royalties |  | 0 | 0 | 0 | 0
Consolidated |  | 7,648 | 7,853 | 22,801 | 19,546
Expenses |  |  |  |  |
Purchased Product |  | 7,284 | 6,467 | 20,540 | 16,729
Transportation and Blending |  | 0 | 0 | 0 | 0
Operating |  | 751 | 623 | 2,045 | 1,904
Operating Margin |  | (383) | 752 | 211 | 907
Depreciation, Depletion and Amortization |  | 115 | 109 | 338 | 314
Exploration Expense |  | 0 | 0 | 0 | 0
(Income) Loss From Equity-Accounted Affiliates |  | 0 | 0 | 0 | 0
Segment Income (Loss) |  | (503) | 645 | (130) | 606
U.S Refining | Downstream | External Sales |  |  |  |  |
Revenues |  |  |  |  |
Gross Sales |  | 7,644 | 7,836 | 22,794 | 19,524
U.S Refining | Downstream | Intersegment Sales |  |  |  |  |
Revenues |  |  |  |  |
Gross Sales |  | 4 | 17 | 7 | 22
U.S Refining | Downstream | Realized (Gain) Loss |  |  |  |  |
Expenses |  |  |  |  |
(Gain) Loss on Risk Management |  | (4) | 11 | 5 | 6
U.S Refining | Downstream | Unrealized (Gain) Loss on Risk Management |  |  |  |  |
Expenses |  |  |  |  |
(Gain) Loss on Risk Management |  | 5 | (2) | 3 | (13)
Corporate and Eliminations |  |  |  |  |
Revenues |  |  |  |  |
Gross Sales |  | (2,309) | (2,729) | (6,620) | (6,069)
Less: Royalties |  | 0 | 0 | 0 | 0
Consolidated |  | (2,309) | (2,729) | (6,620) | (6,069)
Expenses |  |  |  |  |
Purchased Product |  | (2,169) | (2,227) | (5,756) | (4,717)
Transportation and Blending |  | (172) | (233) | (586) | (715)
Purchased product, transportation and blending |  | (2,341) | (2,460) | (6,342) | (5,432)
Operating |  | (42) | (139) | (237) | (412)
Depreciation, Depletion and Amortization |  | 27 | 19 | 80 | 59
Exploration Expense |  | 0 | 0 | 0 | 0
(Income) Loss From Equity-Accounted Affiliates |  | 0 | 0 | (1) | 0
Segment Income (Loss) |  | 59 | (168) | (141) | (357)
General and Administrative |  | 172 | 292 | 593 | 617
Finance costs |  | 118 | 73 | 394 | 393
Integration, Transaction and Other Costs |  | 41 | 12 | 113 | 49
Foreign Exchange (Gain) Loss, Net |  | (73) | 133 | 81 | 7
(Gain) loss on divestiture of asset |  | (17) | 0 | (121) | 22
Re-measurement of Contingent Payments |  | 0 | 67 | 30 | 83
Other (Income) Loss, Net |  | (28) | (22) | (158) | (42)
Total Non-operating (Income) Expense |  | 213 | 555 | 932 | 1,129
Corporate and Eliminations | External Sales |  |  |  |  |
Revenues |  |  |  |  |
Gross Sales |  | 0 | 0 | 0 | 0
Corporate and Eliminations | Intersegment Sales |  |  |  |  |
Revenues |  |  |  |  |
Gross Sales |  | (2,309) | (2,729) | (6,620) | (6,069)
Corporate and Eliminations | Realized (Gain) Loss |  |  |  |  |
Expenses |  |  |  |  |
(Gain) Loss on Risk Management |  | (13) | (1) | (10) | 2
Corporate and Eliminations | Unrealized (Gain) Loss on Risk Management |  |  |  |  |
Expenses |  |  |  |  |
(Gain) Loss on Risk Management |  | $ 1 | $ 20 | $ 31 | $ 71
[1] | Revised presentation as of January 1, 2024. See Note 3.

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