Cenovus Energy Inc. (CVE) SEC Filing 40-F Annual Report for the fiscal year ending Friday, December 31, 2021

Audit Information

Cover

Basis Of Preparation And Statement Of Compliance

Consolidated Balance Sheets (Unaudited)

Consolidated Statements Of Cash Flows (Unaudited)

Consolidated Statements Of Comprehensive Income (Loss) (Unaudited)

Consolidated Statements Of Earnings (Loss) (Unaudited)

Consolidated Statements Of Equity (Unaudited)

Supplementary Cash Flow Information - Summary Of Supplementary Cash Flow Information (Detail)

Accounts Payable And Accrued Liabilities

Accounts Payable And Accrued Liabilities (Tables)

Accounts Payable And Accrued Liabilities - Schedule Of Accounts Payable And Accrued Liabilities (Detail)

Accounts Receivable And Accrued Revenues

Accounts Receivable And Accrued Revenues (Tables)

Accounts Receivables And Accrued Revenues - Schedule Of Accounts Receivables And Accrued Revenues (Detail)

Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss) (Tables)

Accumulated Other Comprehensive Income (Loss) - Schedule Of Accumulated Other Comprehensive Income (Loss) (Detail)

Acquisitions

Acquisitions (Tables)

Acquisitions - Narrative (Details)

Acquisitions - Summary Of Assets Acquired And Liabilities Assumed (Details)

Acquisitions - Summary Of Transaction Costs (Details)

Assets Held For Sale

Assets Held For Sale (Details)

Assets Held For Sale (Tables)

Cash And Cash Equivalents

Cash And Cash Equivalents (Tables)

Cash And Cash Equivalents - Schedule Representing Cash And Cash Equivalents (Detail)

Commitments And Contingencies

Commitments And Contingencies (Tables)

Commitments And Contingencies - Future Payments For Commitments (Details)

Commitments And Contingencies - Narrative (Details)

Contingent Payment

Contingent Payment (Tables)

Contingent Payment - Additional Information (Detail)

Contingent Payment - Summary Of Contingent Payment (Detail)

Critical Accounting Judgments, Key Sources Of Estimation Uncertainty

Critical Accounting Judgments, Key Sources Of Estimation Uncertainty - Additional Information (Detail)

Debt And Capital Structure

Debt And Capital Structure (Tables)

Debt And Capital Structure - Additional Information (Detail)

Debt And Capital Structure - Committed Credit Facilities (Details)

Debt And Capital Structure - Mandatory Debt Payments (Details)

Debt And Capital Structure - Schedule Of Long-Term Debt (Detail)

Debt And Capital Structure - Schedule Of Short-Term Borrowings (Detail)

Debt And Capital Structure - Schedule Remaining Principal Amounts Of Canadian Dollar Denominated Unsecured Notes (Details)

Debt And Capital Structure - Schedule Remaining Principal Amounts Of U.S. Dollar Denominated Unsecured Notes (Detail)

Debt And Capital Structure - Summary Of Net Debt To Adjusted Ebitda (Detail)

Debt And Capital Structure - Summary Of Net Debt To Capitalization (Detail)

Debt And Capital Structure - Unsecured Notes (Details)

Decommissioning Liabilities

Decommissioning Liabilities (Tables)

Decommissioning Liabilities - Additional Information (Detail)

Decommissioning Liabilities - Summary Of Changes To The Credit-Adjusted Risk-Free Rate Or The Inflation Rate Impact On The Decommissioning Liabilities (Detail)

Decommissioning Liabilities - Summary Of Decommissioning Provision (Detail)

Description Of Business And Segmented Disclosures

Description Of Business And Segmented Disclosures (Tables)

Description Of Business And Segmented Disclosures - Additional Information (Detail)

Description Of Business And Segmented Disclosures - Schedule Of Assets By Segment (Detail)

Description Of Business And Segmented Disclosures - Schedule Of Capital Expenditures (Detail)

Description Of Business And Segmented Disclosures - Schedule Of Geographical Information (Detail)

Description Of Business And Segmented Disclosures - Schedule Of Revenues By Product (Detail)

Description Of Business And Segmented Disclosures - Schedule Of Segment And Operational Information (Detail)

Divestitures

Divestitures (Details)

Employee Salaries And Benefit Expenses

Employee Salaries And Benefit Expenses (Tables)

Employee Salaries And Benefit Expenses - Summary Of Employee Salaries And Benefit Expenses (Detail)

Exploration And Evaluation Assets, Net

Exploration And Evaluation Assets, Net (Tables)

Exploration And Evaluation Assets, Net - Summary Of Exploration And Valuation Assets, Net (Detail)

Finance Costs

Finance Costs (Tables)

Finance Costs - Schedule Of Finance Costs (Detail)

Financial Instruments

Financial Instruments (Tables)

Financial Instruments - Additional Information (Detail)

Financial Instruments - Reconciliation Of Changes In The Fair Value Of Available For Sale Financial Assets (Detail)

Financial Instruments - Reconciliation Of Changes In The Fair Value Of Cenovus's Risk Management Assets And Liabilities (Detail)

Financial Instruments - Summary Of Changes In Inputs To Option Pricing Model, Resulted In Unrealized Gains (Losses) Impacting Earnings Before Income Tax (Detail)

Financial Instruments - Summary Of Earnings Impact Of (Gain) Loss From Risk Management Positions (Detail)

Financial Instruments - Summary Of Fair Value Hierarchy For Risk Management Assets And Liabilities Carried At Fair Value (Detail)

Financial Instruments - Summary Of Offsetting Risk Management Positions (Detail)

Financial Instruments - Summary Of Urealized Risk Management Positions (Detail)

Foreign Exchange (Gain) Loss, Net

Foreign Exchange (Gain) Loss, Net (Tables)

Foreign Exchange (Gain) Loss, Net - Schedule Of Foreign Exchange Gain Loss Net (Detail)

General And Administrative

General And Administrative (Tables)

General And Administrative - Summary Of General And Administrative Expenses (Detail)

Goodwill

Goodwill (Tables)

Goodwill - Activity (Details)

Goodwill - Additional Information (Detail)

Goodwill - Allocation (Details)

Impairment Charges

Impairment Charges And Reversals (Tables)

Impairment Charges And Reversals - Additional Information (Detail)

Impairment Charges And Reversals - Crude Oil And Forward Crack Spreads (Details)

Impairment Charges And Reversals - Forward Price Assumptions (Details)

Impairment Charges And Reversals - Sensitivity (Details)

Impairment Charges And Reversals - Summary Of Impairment Losses And Estimated Recoverable Amounts (Detail)

Income Taxes

Income Taxes (Tables)

Income Taxes - Additional Information (Detail)

Income Taxes - Deferred Income Tax Liabilities And Deferred Income Tax Assets (Detail)

Income Taxes - Provision For Income Taxes (Detail)

Income Taxes - Reconciliation Of Income Taxes Calculated At Statutory Rate (Detail)

Income Taxes - Schedule Of Amounts Of Tax Pools Available, Including Tax Losses (Detail)

Income Taxes - Schedule Of Movement In Deferred Income Tax Liabilities And Assets (Detail)

Inventories

Inventories (Tables)

Inventories - Additional Information (Detail)

Inventories - Schedule Of Inventories (Detail)

Joint Arrangements And Associate

Joint Arrangements And Associate (Tables)

Joint Arrangements And Associate - Associate (Details)

Joint Arrangements And Associate - Husky - Cnooc Madura Ltd (Details)

Joint Arrangements And Associate - Husky Midstream Limited Partnership (Details)

Joint Arrangements And Associate - Joint Operations (Details)

Lease Liabilities

Lease Liabilities (Tables)

Lease Liabilities - Summary Of Lease Liabilities (Details)

Other Assets

Other Assets (Tables)

Other Assets - Schedule Of Other Assets (Detail)

Other Liabilities

Other Liabilities (Tables)

Other Liabilities - Summary Of Other Liabilities (Detail)

Pensions And Other Post-Employment Benefits

Pensions And Other Post-Employment Benefits (Tables)

Pensions And Other Post-Employment Benefits - Additional Information (Detail)

Pensions And Other Post-Employment Benefits - Sensitivity Of Defined Benefit And Opeb Obligation To Changes In Relevant Actuarial Assumptions (Detail)

Pensions And Other Post-Employment Benefits - Summary Of Defined Benefit And Opeb Plan Obligation And Funded Status (Detail)

Pensions And Other Post-Employment Benefits - Summary Of Fair Value Of The Plan Assets (Detail)

Pensions And Other Post-Employment Benefits - Summary Of Pension And Opeb Costs (Detail)

Pensions And Other Post-Employment Benefits - Summary Of Principal Weighted Average Actuarial Assumptions Used To Determine Benefit Obligations And Expenses (Detail)

Pensions And Other Post-Employment Benefits - Target Allocation (Details)

Per Share Amounts

Per Share Amounts (Tables)

Per Share Amounts - Additional Information (Detail)

Per Share Amounts - Preferred Share Dividends (Details)

Per Share Amounts - Schedule Representing Per Share Amounts (Detail)

Property, Plant And Equipment, Net

Property, Plant And Equipment, Net (Tables)

Property, Plant And Equipment, Net - Assets Under Construction (Details)

Property, Plant And Equipment, Net - Summary Of Property, Plant And Equipment (Detail)

Related Party Transactions

Related Party Transactions (Tables)

Related Party Transactions - Additional Information (Details)

Related Party Transactions - Summary Of Key Management Compensation (Detail)

Right Of Use Assets, Net

Right Of Use Assets, Net (Tables)

Right Of Use Assets, Net - Summary Of Right Of Use Assets, Net (Detail)

Risk Management

Risk Management (Tables)

Risk Management - Additional Information (Detail)

Risk Management - Impact Of Fluctuating Commodity Prices And Interest Rates On Company's Open Risk Management Positions (Detail)

Risk Management - Impact Of Fluctuating Commodity Prices And Interest Rates On Company's Open Risk Management Positions (Detail)

Risk Management - Net Fair Value Of Risk Management Positions (Detail)

Risk Management - Net Fair Value Of Risk Management Positions (Parenthetical) (Detail)

Risk Management - Undiscounted Cash Outflows Relating To Financial Liabilities (Detail)

Share Capital And Warrants

Share Capital And Warrants (Tables)

Share Capital And Warrants - Additional Information (Detail)

Share Capital And Warrants - Issued And Outstanding - Common Shares (Detail)

Share Capital And Warrants - Issued And Outstanding - Preferred Shares (Details)

Share Capital And Warrants - Issued And Outstanding - Warrants (Details)

Share Capital And Warrants - Schedule Of Paid In Surplus Includes Stock Based Compensation Expense (Detail)

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Tables)

Stock-Based Compensation Plans - Additional Information (Detail)

Stock-Based Compensation Plans - Summary Of Assumptions Used To Determine Fair Value Of Options Granted (Detail)

Stock-Based Compensation Plans - Summary Of Options Outstanding And Exercisable By Range Of Exercise Price (Detail)

Stock-Based Compensation Plans - Summary Of Stock Option Activity And Related Information (Detail)

Stock-Based Compensation Plans - Summary Of Stock-Based Compensation (Detail)

Summary Of Significant Accounting Policies

Summary Of Significant Accounting Policies (Policies)

Summary Of Significant Accounting Policies (Tables)

Summary Of Significant Accounting Policies - Additional Information (Detail)

Summary Of Significant Accounting Policies - Revisions To Prior Periods (Details)

Supplementary Cash Flow Information

Supplementary Cash Flow Information (Tables)

Supplementary Cash Flow Information - Non-Cash Working Capital (Details)

Supplementary Cash Flow Information - Summary Of Reconciliation Of Liabilities To Cash Flows From Financing Activities (Detail)