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Consolidated Statements of Comprehensive Income (Loss) (unaudited) - CAD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues        
Revenues [1] $ 13,195 $ 13,819 $ 38,813 $ 41,464
Expenses        
Purchased Product, Transportation and Blending [1] 8,545 9,615 25,956 27,735
Operating 1,594 1,736 4,971 5,214
(Gain) Loss on Risk Management (2) (20) (79) 42
Depreciation, Depletion, Amortization and Exploration Expense 1,323 1,262 3,829 3,702
(Income) Loss From Equity-Accounted Affiliates (9) (11) (45) (48)
General and Administrative 220 172 570 593
Finance Costs, Net 154 118 404 394
Integration, Transaction and Other Costs 44 41 123 113
Foreign Exchange (Gain) Loss, Net 157 (73) (196) 81
(Gain) Loss on Divestiture of Assets (106) (17) (109) (121)
Re-measurement of Contingent Payments 0 0 0 30
Other (Income) Loss, Net (22) (28) (54) (158)
Earnings (Loss) Before Income Tax 1,297 1,024 3,443 3,887
Income Tax Expense (Recovery) 11 204 447 891
Net Earnings (Loss) 1,286 820 2,996 2,996
Items That Will not be Reclassified to Profit or Loss:        
Actuarial Gain (Loss) Relating to Pension and Other Post-Employment Benefits 2 (7) 10 11
Change in the fair value of equity instruments at FVOCI [2] (19) (1) (23) 123
Items That may be Reclassified to Profit or Loss:        
Foreign Currency Translation Adjustment (1,009) (174) (1,681) 219
Total Other Comprehensive Income (Loss), Net of Tax (1,026) (182) (1,694) 353
Comprehensive Income (Loss) $ 260 $ 638 $ 1,302 $ 3,349
Net Earnings (Loss) Per Common Share ($)        
Net earnings (loss) per share — basic (CAD per share) $ 0.72 $ 0.44 $ 1.65 $ 1.60
Net earnings (loss) per share — diluted (CAD per share) $ 0.72 $ 0.42 $ 1.65 $ 1.59
[1] Comparative periods reflect certain revisions. See Note 23.
[2] Fair value through other comprehensive income (loss) (“FVOCI”).