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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2017
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Summary of Provision for Income Taxes |
a) | Provision for Income Taxes
(CAD$ in millions) |  | 2017 |  |  | 2016 |
Current |  |  |  |  |  |  |  |
Current taxes on profits for the year |  | $ | 1,014 |  |  | $ | 551 |
Adjustments for current taxes of prior periods |  |  | (15 | ) |  |  | (14 | )
Total current taxes |  | $ | 999 |  |  | $ | 537 |
Deferred |  |  |  |  |  |  |  |
Origination and reversal of temporary differences |  | $ | 444 |  |  | $ | 42 |
Adjustments to deferred taxes of prior periods |  |  | 23 |  |  |  | (2 | )
Tax losses not recognized (recognition of previously unrecognized losses) |  |  | (9 | ) |  |  | (10 | )
Effect due to tax legislative changes |  |  | (19 | ) |  |  | 20 |
Total deferred taxes |  | $ | 439 |  |  | $ | 50 |
|  | $ | 1,438 |  |  | $ | 587 |
Summary of Reconciliation of Income Taxes |
b) | Reconciliation of income taxes calculated at the Canadian statutory income tax rate to the actual provision for income taxes is as follows:
(CAD$ in millions) |  | 2017 |  |  | 2016 |
Tax (recovery) expense at the Canadian statutory income tax rate of 26.10% (2016 — 26.10%) |  | $ | 1,038 |  |  | $ | 425 |
Tax effect of: |  |  |  |  |  |  |  |
Resource taxes |  |  | 371 |  |  |  | 170 |
Resource and depletion allowances |  |  | (128 | ) |  |  | (110 | )
Non-temporary differences including one-half of capital gains and losses |  |  | 14 |  |  |  | (15 | )
Tax pools not recognized (recognition of previously unrecognized tax pools) |  |  | (9 | ) |  |  | (10 | )
Effect due to tax legislative changes |  |  | (19 | ) |  |  | 20 |
Withholding taxes |  |  | 57 |  |  |  | 40 |
Difference in tax rates in foreign jurisdictions |  |  | 129 |  |  |  | 90 |
Revisions to prior year estimates |  |  | 12 |  |  |  | (5 | )
Other |  |  | (27 | ) |  |  | (18 | )
|  | $ | 1,438 |  |  | $ | 587 |
Summary of Deferred Tax Expense Charged (Credited) to Income Statement |
c) | The amount of deferred tax expense charged (credited) to the income statement is as follows:
(CAD$ in millions) |  | 2017 |  |  | 2016 |
Net operating loss carryforwards |  | $ | 133 |  |  | $ | (154 | )
Capital allowances in excess of depreciation |  |  | 775 |  |  |  | 311 |
Decommissioning and restoration provisions |  |  | (393 | ) |  |  | (212 | )
U.S. alternative minimum tax credits |  |  | (31 | ) |  |  | (9 | )
Unrealized foreign exchange losses |  |  | 89 |  |  |  | 113 |
Withholding taxes |  |  | (10 | ) |  |  | 4 |
Retirement benefit plans |  |  | 4 |  |  |  | 2 |
Other temporary differences |  |  | (128 | ) |  |  | (5 | )
|  | $ | 439 |  |  | $ | 50 |
Summary of Temporary Differences Giving Rise to Deferred Income Tax Assets and Liabilities |
d) | Temporary differences giving rise to deferred income tax assets and liabilities are as follows:
(CAD$ in millions) |  | December 31, 2017 |  |  | December 31, 2016 |
Net operating loss carryforwards |  | $ | 58 |  |  | $ | 32 |
Property, plant and equipment |  |  | (189 | ) |  |  | 35 |
Decommissioning and restoration provisions |  |  | 78 |  |  |  | — |
U.S. alternative minimum tax credits |  |  | 143 |  |  |  | — |
Retirement benefit plans |  |  | 23 |  |  |  | — |
Other temporary differences |  |  | 41 |  |  |  | 45 |
Deferred income tax assets |  | $ | 154 |  |  | $ | 112 |
Net operating loss carryforwards |  | $ | (1,059 | ) |  | $ | (1,218 | )
Property, plant and equipment |  |  | 7,390 |  |  |  | 6,881 |
Decommissioning and restoration provisions |  |  | (754 | ) |  |  | (439 | )
U.S. alternative minimum tax credits |  |  | — |  |  |  | (112 | )
Unrealized foreign exchange |  |  | (135 | ) |  |  | (224 | )
Withholding taxes |  |  | 79 |  |  |  | 89 |
Retirement benefit plans |  |  | (22 | ) |  |  | (92 | )
Other temporary differences |  |  | (101 | ) |  |  | 11 |
Deferred income tax liabilities |  | $ | 5,398 |  |  | $ | 4,896 |
Summary of General Movement in Net Deferred Income Taxes Account |
e) | The general movement in the net deferred income taxes account is as follows:
(CAD$ in millions) |  | 2017 |  |  | 2016 |
As at January 1 |  | $ | 4,784 |  |  | $ | 4,738 |
Income statement change |  |  | 439 |  |  |  | 50 |
Amounts recognized in equity |  |  | — |  |  |  | 6 |
Tax charge relating to components of other comprehensive income |  |  | 90 |  |  |  | 37 |
Foreign exchange and other differences |  |  | (69 | ) |  |  | (47 | )
As at December 31 |  | $ | 5,244 |  |  | $ | 4,784 |

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