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The statement of financial position provides creditors, investors, and analysts with information on company's resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company's assets as well as an indication of cash flows that may come from receivables and inventories.
Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.
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Suncor Energy Inc., Consolidated Statement of Financial Position, Liabilities and Stockholders' Equity
USD $ in millions, translated from CAD C$
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | ||
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Short-term debt | |
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Current portion of long-term debt | |
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Accounts payable and accrued liabilities | |
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Current portion of provisions | |
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Income taxes payable | |
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Liabilities associated with assets held for sale | |
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Current liabilities | |
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Long-term debt | |
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Pensions and other post-retirement benefits | |
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Share-based compensation plans | |
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Deferred revenue | |
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Fort Hills purchase obligation | |
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Libya EPSAs signature bonus | |
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Other | |
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Other long-term liabilities | |
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Provisions | |
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Deferred income taxes | |
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Noncurrent liabilities | |
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Total liabilities | |
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Share capital | |
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Contributed surplus | |
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Accumulated other comprehensive income (loss) | |
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Retained earnings | |
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Shareholders' equity | |
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Total liabilities and shareholders' equity | |
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| Item | Description | The company |
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| Current liabilities | Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. | Suncor Energy Inc.'s current liabilities increased from 2009 to 2010 but then slightly declined from 2010 to 2011. |
| Noncurrent liabilities | Total obligations incurred as part of normal operations that is expected to be repaid beyond the following twelve months or one business cycle. | Suncor Energy Inc.'s noncurrent liabilities declined from 2009 to 2010 but then increased from 2010 to 2011 not reaching 2009 level. |
| Total liabilities | Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. | Suncor Energy Inc.'s total liabilities declined from 2009 to 2010 but then increased from 2010 to 2011 exceeding 2009 level. |
| Shareholders' equity | Total of all Stockholders' Equity (deficit) items, net of receivables from officers, directors owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). | Suncor Energy Inc.'s shareholders' equity increased from 2009 to 2010 and from 2010 to 2011. |
May 24, 2012