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Property, Plant and Equipment | 12 Months Ended
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Dec. 31, 2017
Text block1 [abstract] |
Property, Plant and Equipment |
15. | Property, Plant and Equipment
(CAD$ in millions) |  | Exploration and Evaluation |  |  | Mineral Properties |  |  | Land, Buildings, Plant and Equipment |  |  | Capitalized Production Stripping Costs |  |  | Construction In Progress |  |  | Total |
At December 31, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost |  | $ | 1,600 |  |  | $ | 18,001 |  |  | $ | 13,208 |  |  | $ | 3,761 |  |  | $ | 3,186 |  |  | $ | 39,756 |
Accumulated depreciation |  |  | — |  |  |  | (4,776 | ) |  |  | (6,574 | ) |  |  | (1,615 | ) |  |  | — |  |  |  | (12,965 | )
Net book value |  | $ | 1,600 |  |  | $ | 13,225 |  |  | $ | 6,634 |  |  | $ | 2,146 |  |  | $ | 3,186 |  |  | $ | 26,791 |
Year ended December 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Opening net book value |  | $ | 1,600 |  |  | $ | 13,225 |  |  | $ | 6,634 |  |  | $ | 2,146 |  |  | $ | 3,186 |  |  | $ | 26,791 |
Additions |  |  | 24 |  |  |  | 47 |  |  |  | 173 |  |  |  | 531 |  |  |  | 1,112 |  |  |  | 1,887 |
Disposals |  |  | — |  |  |  | — |  |  |  | (10 | ) |  |  | — |  |  |  | — |  |  |  | (10 | )
Asset impairments (Note 6) |  |  | — |  |  |  | — |  |  |  | (26 | ) |  |  | — |  |  |  | (268 | ) |  |  | (294 | )
Depreciation and amortization |  |  | — |  |  |  | (356 | ) |  |  | (657 | ) |  |  | (500 | ) |  |  | — |  |  |  | (1,513 | )
Transfers between classifications |  |  | — |  |  |  | — |  |  |  | 276 |  |  |  | — |  |  |  | (276 | ) |  |  | — |
Decommissioning and restoration provision change in estimate |  |  | — |  |  |  | 633 |  |  |  | 26 |  |  |  | — |  |  |  | — |  |  |  | 659 |
Capitalized borrowing costs |  |  | — |  |  |  | 91 |  |  |  | — |  |  |  | — |  |  |  | 175 |  |  |  | 266 |
Other |  |  | (9 | ) |  |  | — |  |  |  | (6 | ) |  |  | — |  |  |  | — |  |  |  | (15 | )
Changes in foreign exchange rates |  |  | (2 | ) |  |  | (78 | ) |  |  | (58 | ) |  |  | (16 | ) |  |  | (22 | ) |  |  | (176 | )
Closing net book value |  | $ | 1,613 |  |  | $ | 13,562 |  |  | $ | 6,352 |  |  | $ | 2,161 |  |  | $ | 3,907 |  |  | $ | 27,595 |
At December 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost |  | $ | 1,613 |  |  | $ | 18,667 |  |  | $ | 13,517 |  |  | $ | 4,269 |  |  | $ | 3,907 |  |  | $ | 41,973 |
Accumulated depreciation |  |  | — |  |  |  | (5,105 | ) |  |  | (7,165 | ) |  |  | (2,108 | ) |  |  | — |  |  |  | (14,378 | )
Net book value |  | $ | 1,613 |  |  | $ | 13,562 |  |  | $ | 6,352 |  |  | $ | 2,161 |  |  | $ | 3,907 |  |  | $ | 27,595 |
Year ended December 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Opening net book value |  | $ | 1,613 |  |  | $ | 13,562 |  |  | $ | 6,352 |  |  | $ | 2,161 |  |  | $ | 3,907 |  |  | $ | 27,595 |
Additions |  |  | 171 |  |  |  | 174 |  |  |  | 562 |  |  |  | 742 |  |  |  | 1,284 |  |  |  | 2,933 |
Disposals |  |  | — |  |  |  | — |  |  |  | (67 | ) |  |  | — |  |  |  | — |  |  |  | (67 | )
Impairment reversal and (asset impairments) (Note 6) |  |  | — |  |  |  | 207 |  |  |  | (44 | ) |  |  | — |  |  |  | — |  |  |  | 163 |
Depreciation and amortization |  |  | — |  |  |  | (368 | ) |  |  | (640 | ) |  |  | (566 | ) |  |  | — |  |  |  | (1,574 | )
Transfers between classifications |  |  | — |  |  |  | (8 | ) |  |  | 104 |  |  |  | — |  |  |  | (96 | ) |  |  | — |
Decommissioning and restoration provision change in estimate |  |  | — |  |  |  | 501 |  |  |  | 24 |  |  |  | — |  |  |  | — |  |  |  | 525 |
Capitalized borrowing costs |  |  | — |  |  |  | 102 |  |  |  | — |  |  |  | — |  |  |  | 231 |  |  |  | 333 |
Reclass of Waneta Dam and other |  |  | — |  |  |  | 40 |  |  |  | (394 | ) |  |  | — |  |  |  | — |  |  |  | (354 | )
Changes in foreign exchange rates |  |  | (10 | ) |  |  | (240 | ) |  |  | (155 | ) |  |  | (39 | ) |  |  | (65 | ) |  |  | (509 | )
Closing net book value |  | $ | 1,774 |  |  | $ | 13,970 |  |  | $ | 5,742 |  |  | $ | 2,298 |  |  | $ | 5,261 |  |  | $ | 29,045 |
At December 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost |  | $ | 1,774 |  |  | $ | 19,329 |  |  | $ | 12,948 |  |  | $ | 4,561 |  |  | $ | 5,261 |  |  | $ | 43,873 |
Accumulated depreciation |  |  | — |  |  |  | (5,359 | ) |  |  | (7,206 | ) |  |  | (2,263 | ) |  |  | — |  |  |  | (14,828 | )
Net book value |  | $ | 1,774 |  |  | $ | 13,970 |  |  | $ | 5,742 |  |  | $ | 2,298 |  |  | $ | 5,261 |  |  | $ | 29,045 |
a) | Exploration and Evaluation
Significant exploration and evaluation projects in property, plant and equipment include Galore Creek and non-Fort Hills oil sands properties in Alberta.
b) | Finance Leases
The net carrying value of property, plant and equipment held under finance lease (Note 18(c)) at December 31, 2017 is $406 million (2016 — $220 million), of which $192 million (2016 — $220 million) is included in land, buildings, plant and equipment and $214 million (2016 — $nil) is included in construction in progress for our share of the pipeline leases of the Fort Hills oil sands project. Ownership of leased assets remains with the lessor.
c) | Borrowing Costs
Borrowing costs are capitalized at a rate based on our weighted average cost of borrowing or at the rate on the project-specific debt, as applicable. These projects are shown as part of mineral properties and leases, land, buildings, plant and equipment, or construction in progress. Our weighted average borrowing rate used for capitalization of borrowing costs in 2017 was 5.8% (2016 — 5.7%).

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- Definition The disclosure of detailed information about property, plant and equipment. [Refer: Property, plant and equipment] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 16 -IssueDate 2017-01-01 -Paragraph 73 -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=16&date=2017-03-01&anchor=para_73&doctype=Standard -URIDate 2017-03-09 + Details
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