v3.25.4
Consolidated balance sheet (U.S. GAAP) - CAD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 1,142 $ 979
Accounts receivable - net [1] 4,371 5,758
Inventories of crude oil and products 2,211 1,642
Materials, supplies and prepaid expenses 693 975
Total current assets 8,417 9,354
Investments and long-term receivables [2] 1,103 1,084
Property, plant and equipment, less accumulated depreciation and depletion 30,863 30,807
Goodwill 166 166
Other assets, including intangibles - net 1,760 1,527
Total assets 42,309 42,938
Current liabilities    
Notes and loans payable 19 19
Accounts payable and accrued liabilities [1] 6,595 6,907
Income taxes payable 2 81
Total current liabilities 6,616 7,007
Long-term debt [3] 3,978 3,992
Other long-term obligations 4,959 3,870
Deferred income tax liabilities 4,502 4,596
Total liabilities 20,055 19,465
Commitments and contingent liabilities
Shareholders’ equity    
Common shares at stated value [4] 895 942
Earnings reinvested 21,373 22,745
Accumulated other comprehensive income (loss) (14) (214)
Total shareholders’ equity 22,254 23,473
Total liabilities and shareholders’ equity $ 42,309 $ 42,938
[1]
(a) Accounts receivable - net included net amounts receivable from related parties (note 16). 399756
[2]
(b) Investments and long-term receivables included amounts from related parties (note 16). 251266
[3]
(c) Long-term debt included amounts to related parties (note 16). 3,4473,447
[4]
(d) Number of common shares authorized (millions) (note 10). $1,100 $1,100 
Number of common shares outstanding (millions) (note 10). $484 $509