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Business Segments (Detail) (CAD)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Revenues and other income      
Operating revenues 32,722 [1],[2],[3] 31,053 [1],[2],[3] 30,474 [1],[2],[3]
Investment and other income 207 135 240
Total revenues and other income 32,929 31,188 30,714
Expenses      
Exploration 123 83 92
Purchases of crude oil and products 20,155 [4] 18,476 [4] 18,847 [4]
Production and manufacturing 5,288 [5],[6] 4,457 [5],[6] 4,114 [5],[6]
Selling and general 1,082 1,081 1,168
Federal excise tax 1,423 [1] 1,338 [1] 1,320 [1]
Depreciation and depletion 1,110 [6] 761 [6] 764 [6]
Financing costs (note 12) 11 [7] (1) [7] 3 [7]
Total expenses 29,192 26,195 26,308
Income before income taxes 3,737 4,993 4,406
Income taxes (note 3)      
Current 425 593 955
Deferred 484 [8] 634 [8] 80 [8]
Total income tax expense 909 [9] 1,227 [9] 1,035 [9]
Net income 2,828 3,766 3,371
Cash flows from (used in) operating activities 3,292 4,680 4,489
Capital and exploration expenditures 8,020 [10] 5,683 [10] 4,066 [10]
Property, plant and equipment Cost 47,165 38,765 33,416
Accumulated depreciation and depletion (15,845) (14,843) (14,254)
Net property, plant and equipment 31,320 [11] 23,922 [11] 19,162 [11]
Total assets 37,218 [12] 29,364 [12] 25,429 [12]
Upstream
     
Revenues and other income      
Operating revenues 6,016 [3] 4,674 [3] 5,278 [3]
Intersegment sales 4,026 4,110 4,460
Investment and other income 145 46 168
TOTAL OPERATING REVENUES, INTERSEGMENT SALES, INVESTMENT AND OTHER INCOME 10,187 8,830 9,906
Expenses      
Exploration 123 83 92
Purchases of crude oil and products 3,778 3,056 3,581
Production and manufacturing 3,389 [6] 2,704 [6] 2,484 [6]
Selling and general 5 1 7
Depreciation and depletion 636 [6] 498 [6] 528 [6]
Financing costs (note 12) 9 (1) 2
Total expenses 7,940 6,341 6,694
Income before income taxes 2,247 2,489 3,212
Income taxes (note 3)      
Current (14) 72 593
Deferred 549 529 162
Total income tax expense 535 601 755
Net income 1,712 1,888 2,457
Cash flows from (used in) operating activities 1,690 2,625 3,252
Capital and exploration expenditures 7,755 [10] 5,518 [10] 3,880 [10]
Property, plant and equipment Cost 38,819 30,602 25,327
Accumulated depreciation and depletion (10,749) (10,146) (9,747)
Net property, plant and equipment 28,070 [11] 20,456 [11] 15,580 [11]
Total assets 30,553 [12] 22,317 [12] 17,222 [12]
Downstream
     
Revenues and other income      
Operating revenues 25,450 [3] 25,077 [3] 23,909 [3]
Intersegment sales 1,978 2,603 2,784
Investment and other income 59 81 63
TOTAL OPERATING REVENUES, INTERSEGMENT SALES, INVESTMENT AND OTHER INCOME 27,487 27,761 26,756
Expenses      
Purchases of crude oil and products 21,628 21,316 21,642
Production and manufacturing 1,695 [6] 1,569 [6] 1,451 [6]
Selling and general 886 935 973
Federal excise tax 1,423 1,338 1,320
Depreciation and depletion 452 [6] 242 [6] 214 [6]
Financing costs (note 12) 2   (1)
Total expenses 26,086 25,400 25,599
Income before income taxes 1,401 2,361 1,157
Income taxes (note 3)      
Current 395 486 372
Deferred (46) 103 (99)
Total income tax expense 349 589 273
Net income 1,052 1,772 884
Cash flows from (used in) operating activities 1,453 1,961 1,315
Capital and exploration expenditures 187 [10] 140 [10] 166 [10]
Property, plant and equipment Cost 7,146 7,038 6,990
Accumulated depreciation and depletion (4,347) (3,967) (3,803)
Net property, plant and equipment 2,799 [11] 3,071 [11] 3,187 [11]
Total assets 5,732 [12] 6,409 [12] 6,700 [12]
Chemical
     
Revenues and other income      
Operating revenues 1,256 [3] 1,302 [3] 1,287 [3]
Intersegment sales 318 299 354
TOTAL OPERATING REVENUES, INTERSEGMENT SALES, INVESTMENT AND OTHER INCOME 1,574 1,601 1,641
Expenses      
Purchases of crude oil and products 1,065 1,115 1,222
Production and manufacturing 210 [6] 185 [6] 179 [6]
Selling and general 66 67 64
Depreciation and depletion 12 [6] 12 [6] 13 [6]
Total expenses 1,353 1,379 1,478
Income before income taxes 221 222 163
Income taxes (note 3)      
Current 62 67 43
Deferred (3) (10) (2)
Total income tax expense 59 57 41
Net income 162 165 122
Cash flows from (used in) operating activities 198 127 53
Capital and exploration expenditures 9 [10] 4 [10] 4 [10]
Property, plant and equipment Cost 771 765 760
Accumulated depreciation and depletion (586) (576) (560)
Net property, plant and equipment 185 [11] 189 [11] 200 [11]
Total assets 397 [12] 372 [12] 397 [12]
Corporate and Other
     
Revenues and other income      
Investment and other income 3 8 9
TOTAL OPERATING REVENUES, INTERSEGMENT SALES, INVESTMENT AND OTHER INCOME 3 8 9
Expenses      
Selling and general 125 78 124
Depreciation and depletion 10 [6] 9 [6] 9 [6]
Financing costs (note 12)     2
Total expenses 135 87 135
Income before income taxes (132) (79) (126)
Income taxes (note 3)      
Current (18) (32) (53)
Deferred (16) 12 19
Total income tax expense (34) (20) (34)
Net income (98) (59) (92)
Cash flows from (used in) operating activities (49) (33) (131)
Capital and exploration expenditures 69 [10] 21 [10] 16 [10]
Property, plant and equipment Cost 429 360 339
Accumulated depreciation and depletion (163) (154) (144)
Net property, plant and equipment 266 [11] 206 [11] 195 [11]
Total assets 581 [12] 704 [12] 1,418 [12]
Consolidation, Eliminations
     
Revenues and other income      
Intersegment sales (6,322) (7,012) (7,598)
TOTAL OPERATING REVENUES, INTERSEGMENT SALES, INVESTMENT AND OTHER INCOME (6,322) (7,012) (7,598)
Expenses      
Purchases of crude oil and products (6,316) (7,011) (7,598)
Production and manufacturing (6) [6] (1) [6]  
Total expenses (6,322) (7,012) (7,598)
Income taxes (note 3)      
Total assets (45) [12] (438) [12] (308) [12]
[1] Operating revenues include federal excise tax of $1,423 million (2012 - $1,338 million, 2011 - $1,320 million).
[2] Operating revenues include amounts from related parties of $2,385 million (2012 - $2,907 million, 2011 - $2,818 million), (note 16).
[3] Includes export sales to the United States of $5,217 million (2012 - $4,358 million, 2011 - $4,175 million). Export sales to the United States were recorded in all operating segments, with the largest effects in the Upstream segment.
[4] Purchases of crude oil and products include amounts from related parties of $4,104 million (2012 - $3,033 million, 2011 - $3,636 million), (note 16).
[5] Production and manufacturing expenses include amounts to related parties of $319 million (2012 - $241 million, 2011 - $217 million), (note 16).
[6] A 2013 charge in the Downstream segment of $377 million ($280 million, after-tax) associated with the company's decision to convert the Dartmouth refinery to a terminal included the write-down of refinery plant and equipment not included in the terminal conversion of $245 million, reported as part of depreciation and depletion expenses, and decommissioning, environmental and employee-related costs of $132 million, reported as part of production and manufacturing expenses. By the end of 2013, amounts incurred associated with decommissioning, environmental and employee-related costs totalled $40 million.
[7] Cash interest payments in 2013 were $69 million (2012 - $20 million, 2011 - $16 million). The weighted average interest rate on short-term borrowings in 2013 was 1.1 percent (2012 - 1.1 percent).
[8] There were no material net (charges)/credits for the effect of changes in tax laws and rates included in the provisions for deferred income taxes in 2013, 2012 and 2011.
[9] Cash outflow from income taxes, plus investment credits earned, was $911 million in 2013 (2012 - $871 million, 2011 - $667 million).
[10] Capital and exploration expenditures (CAPEX) include exploration expenses, additions to property, plant, equipment and intangibles and additions to capital leases.
[11] Includes property, plant and equipment under construction of $9,234 million (2012 - $13,846 million).
[12] The majority of the goodwill has been assigned to the Downstream segment. Goodwill of $20 million was recognized in 2013 in the Upstream segment as a result of the Celtic acquisition (note 18). There have been no goodwill impairment losses or write-offs due to sales in the past three years. Fair value used in quantitative goodwill impairment tests was Level 3 (unobservable inputs).