
	Upstream									Downstream									Chemical
millions of Canadian dollars	2017			2016			2015			2017			2016			2015			2017			2016			2015
Revenues and other income
Operating revenues (a)		7,302			5,492			5,776			20,714			18,511			19,796			1,109			1,046			1,184
Intersegment sales		2,264			2,215			2,486			1,155			1,007			1,019			262			212			234
Investment and other income (note 8)		16			13			22			269			2,278			104			-			-			-
		9,582			7,720			8,284			22,138			21,796			20,919			1,371			1,258			1,418
Expenses
Exploration (b) (note 15)		183			94			73			-			-			-			-			-			-
Purchases of crude oil and products		4,526			3,666			3,768			16,543			14,178			14,526			751			705			725
Production and manufacturing		3,913			3,591			3,766			1,576			1,428			1,461			209			205			207
Selling and general		-			(5	)		(2	)		772			972			986			78			83			87
Federal excise tax		-			-			-			1,673			1,650			1,568			-			-			-
Depreciation and depletion (b)		1,939			1,396			1,193			202			206			233			12			10			11
Financing costs (note 12)		13			(7	)		5			-			-			-			-			-			-
Total expenses		10,574			8,735			8,803			20,766			18,434			18,774			1,050			1,003			1,030
Income (loss) before income taxes		(992	)		(1,015	)		(519	)		1,372			3,362			2,145			321			255			388
Income taxes (note 3)
Current		484			(491	)		(77	)		(504	)		674			476			(32	)		68			97
Deferred		(770	)		137			262			836			(66	)		83			118			-			4
Total income tax expense (benefit)		(286	)		(354	)		185			332			608			559			86			68			101
Net income (loss)		(706	)		(661	)		(704	)		1,040			2,754			1,586			235			187			287
Cash flows from (used in) operating activities		1,257			402			224			1,396			1,574			1,686			235			203			383
Capital and exploration expenditures (c)		416			896			3,135			200			190			340			17			26			52
Property, plant and equipment
Cost		45,542			45,850			45,171			5,683			6,166			7,596			888			872			857
Accumulated depreciation and depletion		(13,844	)		(12,312	)		(11,016	)		(3,594	)		(4,037	)		(4,584	)		(644	)		(629	)		(616	)
Net property, plant and equipment (b) (d)		31,698			33,538			34,155			2,089			2,129			3,012			244			243			241
Total assets		35,044			36,840			36,971			4,890			3,958			5,574			399			346			394

	Corporate and other									Eliminations									Consolidated
millions of Canadian dollars	2017			2016			2015			2017			2016			2015			2017			2016			2015
Revenues and other income
Operating revenues (a)		-			-			-			-			-			-			29,125			25,049			26,756
Intersegment sales		-			-			-			(3,681	)		(3,434	)		(3,739	)		-			-			-
Investment and other income (note 8)		14			14			6			-			-			-			299			2,305			132
		14			14			6			(3,681	)		(3,434	)		(3,739	)		29,424			27,354			26,888
Expenses
Exploration (b) (note 15)		-			-			-			-			-			-			183			94			73
Purchases of crude oil and products		-			-			-			(3,675	)		(3,429	)		(3,735	)		18,145			15,120			15,284
Production and manufacturing		-			-			-			-			-			-			5,698			5,224			5,434
Selling and general		49			84			50			(6	)		(5	)		(4	)		893			1,129			1,117
Federal excise tax		-			-			-			-			-			-			1,673			1,650			1,568
Depreciation and depletion (b)		19			16			13			-			-			-			2,172			1,628			1,450
Financing costs (note 12)		65			72			34			-			-			-			78			65			39
Total expenses		133			172			97			(3,681	)		(3,434	)		(3,739	)		28,842			24,910			24,965
Income (loss) before income taxes		(119	)		(158	)		(91	)		-			-			-			582			2,444			1,923
Income taxes (note 3)
Current		(6	)		(51	)		(45	)		-			-			-			(58	)		200			451
Deferred		(34	)		8			1			-			-			-			150			79			350
Total income tax expense (benefit)		(40	)		(43	)		(44	)		-			-			-			92			279			801
Net income (loss)		(79	)		(115	)		(47	)		-			-			-			490			2,165			1,122
Cash flows from (used in) operating activities		(125	)		(143	)		(124	)		-			(21	)		(2	)		2,763			2,015			2,167
Capital and exploration expenditures (c)		38			49			68			-			-			-			671			1,161			3,595
Property, plant and equipment
Cost		665			627			579			-			-			-			52,778			53,515			54,203
Accumulated depreciation and depletion		(223	)		(204	)		(188	)		-			-			-			(18,305	)		(17,182	)		(16,404	)
Net property, plant and equipment (b) (d)		442			423			391			-			-			-			34,473			36,333			37,799
Total assets		1,703			894			579			(435	)		(384	)		(348	)		41,601			41,654			43,170

(a)	Includes export sales to the United States of $4,392 million (2016 - $3,612 million, 2015 - $4,157 million). Export sales to the United States were recorded in all operating segments, with the largest effects in the Upstream segment.

(b)

The Upstream segment in 2017 includes non-cash impairment charges of $396 million, before tax, associated with the Horn River development and $379 million, before tax, associated with the Mackenzie gas project. The impairment charges are recognized in the lines exploration, and depreciation and depletion on the consolidated statement of income, and the accumulated depreciation and depletion line of the consolidated balance sheet.

(c)	Capital and exploration expenditures (CAPEX) include exploration expenses, additions to property, plant and equipment, additions to capital leases, additional investments and acquisitions. CAPEX excludes the purchase of carbon emission credits.

(d)	Includes property, plant and equipment under construction of $1,047 million (2016 - $2,705 million, 2015 - $3,719 million).