Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and qualitative disclosures about market risk
Information about market risks for the three months ended March 31, 2022, does not differ materially from that discussed on page 33 of the company’s annual report on Form 10-K
for the year ended December 31, 2021. The following table details those earnings sensitivities that have been updated from the fiscal year-end
to reflect current market conditions.
Earnings Sensitivities (a)
millions of Canadian dollars after tax
One dollar (U.S.) per barrel increase (decrease) in crude oil prices
+ (-)
105
One dollar (U.S.) per barrel increase (decrease) in light and heavy crude price differentials
+ (-)
35
One cent decrease (increase) in the value of the Canadian dollar versus the U.S. dollar
+ (-)
200
(a)
Each sensitivity calculation shows the annual impact on net income resulting from a change in one factor, after tax and royalties and holding all other factors constant. These sensitivities have been updated to reflect current market conditions. They may not apply proportionately to larger fluctuations.
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.