
Third Quarter	Upstream						Downstream						Chemical
millions of Canadian dollars	2016			2015			2016			2015			2016		2015
Revenues and other income
Operating revenues (a)		1,316			1,467			4,971			5,344			281		300
Intersegment sales		709			610			253			239			58		60
Investment and other income		1			4			870			40			1		-
		2,026			2,081			6,094			5,623			340		360
Expenses
Exploration		16			19			-			-			-		-
Purchases of crude oil and products		861			879			3,827			3,906			188		176
Production and manufacturing		887			923			323			377			51		51
Selling and general		(1	)		1			238			256			22		23
Federal excise tax		-			-			434			416			-		-
Depreciation and depletion		346			333			46			61			2		3
Financing costs (note 5)		(2	)		2			-			-			-		-
Total expenses		2,107			2,157			4,868			5,016			263		253
Income (loss) before income taxes		(81	)		(76	)		1,226			607			77		107
Income taxes		(55	)		(24	)		224			153			21		29
Net income (loss)		(26	)		(52	)		1,002			454			56		78
Cash flows from (used in) operating activities		432			696			264			313			73		109
Capital and exploration expenditures (b)		149			1,050			38			55			7		17

Third Quarter	Corporate and Other						Eliminations						Consolidated
millions of Canadian dollars	2016			2015			2016			2015			2016		2015
Revenues and other income
Operating revenues (a)		-			-			-			-			6,568		7,111
Intersegment sales		-			-			(1,020	)		(909	)		-		-
Investment and other income		2			-			-			-			874		44
		2			-			(1,020	)		(909	)		7,442		7,155
Expenses
Exploration		-			-			-			-			16		19
Purchases of crude oil and products		-			-			(1,019	)		(908	)		3,857		4,053
Production and manufacturing		-			-			-			-			1,261		1,351
Selling and general		17			(12	)		(1	)		(1	)		275		267
Federal excise tax		-			-			-			-			434		416
Depreciation and depletion		4			3			-			-			398		400
Financing costs (note 5)		21			10			-			-			19		12
Total expenses		42			1			(1,020	)		(909	)		6,260		6,518
Income (loss) before income taxes		(40	)		(1	)		-			-			1,182		637
Income taxes		(11	)		-			-			-			179		158
Net income (loss)		(29	)		(1	)		-			-			1,003		479
Cash flows from (used in) operating activities		3			(14	)		-			-			772		1,104
Capital and exploration expenditures (b)		11			20			-			-			205		1,142

(a)	Included export sales to the United States of $941 million (2015 - $1,168 million). Export sales to the United States were recorded in all operating segments, with the largest effects in the Upstream segment.

(b)	Capital and exploration expenditures (CAPEX) include exploration expenses, additions to property, plant and equipment, additions to capital leases, additional investments and acquisitions.


Nine Months to September 30	Upstream						Downstream						Chemical
millions of Canadian dollars	2016			2015			2016			2015			2016		2015
Revenues and other income
Operating revenues (a)		3,699			4,462			13,470			15,191			798		900
Intersegment sales		1,516			1,926			689			763			156		182
Investment and other income		22			22			919			83			1		-
		5,237			6,410			15,078			16,037			955		1,082
Expenses
Exploration		75			52			-			-			-		-
Purchases of crude oil and products		2,584			2,787			10,139			11,172			518		563
Production and manufacturing		2,634			2,826			1,059			1,125			149		154
Selling and general		(3	)		-			729			720			63		65
Federal excise tax		-			-			1,237			1,180			-		-
Depreciation and depletion		1,053			865			158			169			6		8
Financing costs (note 5)		(6	)		5			-			-			-		-
Total expenses		6,337			6,535			13,322			14,366			736		790
Income (loss) before income taxes		(1,100	)		(125	)		1,756			1,671			219		292
Income taxes		(336	)		290			363			437			59		79
Net income (loss)		(764	)		(415	)		1,393			1,234			160		213
Cash flows from (used in) operating activities		32			181			1,028			1,368			205		269
Capital and exploration expenditures (b)		745			2,644			145			276			21		33
Total assets as at September 30		36,975			36,817			4,403			5,645			379		386

Nine Months to September 30	Corporate and Other						Eliminations						Consolidated
millions of Canadian dollars	2016			2015			2016			2015			2016		2015
Revenues and other income
Operating revenues (a)		-			-			-			-			17,967		20,553
Intersegment sales		-			-			(2,361	)		(2,871	)		-		-
Investment and other income		3			1			-			-			945		106
		3			1			(2,361	)		(2,871	)		18,912		20,659
Expenses
Exploration		-			-			-			-			75		52
Purchases of crude oil and products		-			-			(2,357	)		(2,869	)		10,884		11,653
Production and manufacturing		-			-			-			-			3,842		4,105
Selling and general		27			20			(4	)		(2	)		812		803
Federal excise tax		-			-			-			-			1,237		1,180
Depreciation and depletion		12			10			-			-			1,229		1,052
Financing costs (note 5)		58			15			-			-			52		20
Total expenses		97			45			(2,361	)		(2,871	)		18,131		18,865
Income (loss) before income taxes		(94	)		(44	)		-			-			781		1,794
Income taxes		(26	)		(32	)		-			-			60		774
Net income (loss)		(68	)		(12	)		-			-			721		1,020
Cash flows from (used in) operating activities		(1	)		(56	)		-			-			1,264		1,762
Capital and exploration expenditures (b)		37			58			-			-			948		3,011
Total assets as at September 30		674			777			(337	)		(173	)		42,094		43,452

(a)	Included export sales to the United States of $2,704 million (2015 - $3,331 million). Export sales to the United States were recorded in all operating segments, with the largest effects in the Upstream segment.

(b)	Capital and exploration expenditures (CAPEX) include exploration expenses, additions to property, plant and equipment, additions to capital leases, additional investments and acquisitions.