$OVV
Ovintiv Inc.

2021 Q4 Form 10-K Financial Statement

#000156459022006978 Filed on February 25, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $3.339B $8.658B $1.528B
YoY Change 118.52% 42.24% -2.36%
Cost Of Revenue $1.097B $3.788B $522.0M
YoY Change 110.15% 86.79% 9.21%
Gross Profit $2.242B $4.870B $1.006B
YoY Change 122.86% 19.98% -7.45%
Gross Profit Margin 67.15% 56.25% 65.84%
Selling, General & Admin $541.0M $2.125B $474.0M
YoY Change 14.14% 10.5% -12.38%
% of Gross Profit 24.13% 43.63% 47.12%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $274.0M $1.190B $401.0M
YoY Change -31.67% -35.11% -28.52%
% of Gross Profit 12.22% 24.44% 39.86%
Operating Expenses $820.0M $7.139B $878.0M
YoY Change -6.61% -37.84% -20.97%
Operating Profit $1.422B $1.519B $128.0M
YoY Change 1010.94% -128.15% -557.14%
Interest Expense -$69.00M $340.0M -$58.00M
YoY Change 18.97% -8.36% 45.0%
% of Operating Profit -4.85% 22.38% -45.31%
Other Income/Expense, Net $6.000M $37.00M $7.000M
YoY Change -14.29% -32.73% 600.0%
Pretax Income $1.382B $1.239B -$642.0M
YoY Change -315.26% -121.62% 844.12%
Income Tax -$2.000M -$177.0M -$28.00M
% Of Pretax Income -0.14% -14.29%
Net Earnings $1.384B $1.416B -$614.0M
YoY Change -325.41% -123.22% 10133.33%
Net Earnings / Revenue 41.45% 16.35% -40.18%
Basic Earnings Per Share $5.44 -$2.36
Diluted Earnings Per Share $5.200M $5.32 -$2.36
COMMON SHARES
Basic Shares Outstanding 260.4M
Diluted Shares Outstanding 266.4M

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $195.0M $195.0M $10.00M
YoY Change 1850.0% 1850.0% -94.74%
Cash & Equivalents $195.0M $195.0M $10.00M
Short-Term Investments
Other Short-Term Assets $67.00M $96.00M $38.00M
YoY Change 76.32% -2.04% -7.32%
Inventory
Prepaid Expenses $28.00M $23.00M
Receivables $1.199B $1.199B $928.0M
Other Receivables $97.00M $97.00M $272.0M
Total Short-Term Assets $1.587B $1.587B $1.247B
YoY Change 27.27% 27.27% -33.28%
LONG-TERM ASSETS
Property, Plant & Equipment $8.761B $9.690B $9.450B
YoY Change -7.29% -7.19% -37.79%
Goodwill $2.628B $2.625B
YoY Change 0.11% 0.54%
Intangibles
YoY Change
Long-Term Investments $27.00M $27.00M
YoY Change -10.0%
Other Assets $1.079B $59.00M $1.143B
YoY Change -5.6% -4.84% -5.77%
Total Long-Term Assets $12.47B $12.47B $13.22B
YoY Change -5.7% -5.7% -32.6%
TOTAL ASSETS
Total Short-Term Assets $1.587B $1.587B $1.247B
Total Long-Term Assets $12.47B $12.47B $13.22B
Total Assets $14.06B $14.06B $14.47B
YoY Change -2.86% -2.86% -32.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $328.0M $328.0M $1.704B
YoY Change -80.75% 7.19% -20.74%
Accrued Expenses $1.475B $1.475B $68.00M
YoY Change 2069.12% 26.83% -12.82%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $6.000M $518.0M
YoY Change -100.0% -99.0%
Total Short-Term Liabilities $2.748B $2.748B $2.423B
YoY Change 13.41% 13.41% -0.37%
LONG-TERM LIABILITIES
Long-Term Debt $4.786B $4.819B $6.367B
YoY Change -24.83% -24.77% -8.7%
Other Long-Term Liabilities $190.0M $1.410B $358.0M
YoY Change -46.93% -20.92% -22.84%
Total Long-Term Liabilities $4.976B $6.229B $6.725B
YoY Change -26.01% -23.93% -9.59%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.748B $2.748B $2.423B
Total Long-Term Liabilities $4.976B $6.229B $6.725B
Total Liabilities $8.981B $8.981B $10.63B
YoY Change -15.53% -15.53% -8.0%
SHAREHOLDERS EQUITY
Retained Earnings -$4.479B -$5.773B
YoY Change -22.41% -1471.26%
Common Stock $8.461B $8.534B
YoY Change -0.86% 0.84%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.074B $5.074B $3.837B
YoY Change
Total Liabilities & Shareholders Equity $14.06B $14.06B $14.47B
YoY Change -2.86% -2.86% -32.66%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income $1.384B $1.416B -$614.0M
YoY Change -325.41% -123.22% 10133.33%
Depreciation, Depletion And Amortization $274.0M $1.190B $401.0M
YoY Change -31.67% -35.11% -28.52%
Cash From Operating Activities $740.0M $3.129B $719.0M
YoY Change 2.92% 65.12% -1.51%
INVESTING ACTIVITIES
Capital Expenditures -$421.0M $1.519B -$343.0M
YoY Change 22.74% -12.5% -40.24%
Acquisitions $0.00
YoY Change
Other Investing Activities $16.00M $20.00M -$104.0M
YoY Change -115.38% -89.9% 511.76%
Cash From Investing Activities -$405.0M -$525.0M -$447.0M
YoY Change -9.4% -71.83% -24.37%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $111.0M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -148.0M -2.419B -294.0M
YoY Change -49.66% 1074.27% 234.09%
NET CHANGE
Cash From Operating Activities 740.0M 3.129B 719.0M
Cash From Investing Activities -405.0M -525.0M -447.0M
Cash From Financing Activities -148.0M -2.419B -294.0M
Net Change In Cash 187.0M 185.0M -22.00M
YoY Change -950.0% -202.78% -143.14%
FREE CASH FLOW
Cash From Operating Activities $740.0M $3.129B $719.0M
Capital Expenditures -$421.0M $1.519B -$343.0M
Free Cash Flow $1.161B $1.610B $1.062B
YoY Change 9.32% 912.58% -18.56%

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2626000000
CY2021 ovv Acquisitions
Acquisitions
11000000
CY2020 ovv Acquisitions
Acquisitions
19000000
CY2019 ovv Acquisitions
Acquisitions
65000000
CY2021 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0
CY2020 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0
CY2019 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
-94000000
CY2021 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1025000000
CY2020 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
89000000
CY2019 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
197000000
CY2021 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
20000000
CY2020 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
198000000
CY2019 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
156000000
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-525000000
CY2020 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1864000000
CY2019 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2556000000
CY2021 us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
-950000000
CY2020 us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
252000000
CY2019 us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
698000000
CY2021 us-gaap Repayments Of Unsecured Debt
RepaymentsOfUnsecuredDebt
1137000000
CY2020 us-gaap Repayments Of Unsecured Debt
RepaymentsOfUnsecuredDebt
272000000
CY2019 us-gaap Repayments Of Unsecured Debt
RepaymentsOfUnsecuredDebt
500000000
CY2021 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
111000000
CY2020 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0
CY2019 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1250000000
CY2021 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
122000000
CY2020 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
97000000
CY2019 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
102000000
CY2021 ovv Finance Lease Principal Payments And Other
FinanceLeasePrincipalPaymentsAndOther
99000000
CY2020 ovv Finance Lease Principal Payments And Other
FinanceLeasePrincipalPaymentsAndOther
89000000
CY2019 ovv Finance Lease Principal Payments And Other
FinanceLeasePrincipalPaymentsAndOther
84000000
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-2419000000
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-206000000
CY2019 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1238000000
CY2021 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
0
CY2020 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-5000000
CY2019 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
5000000
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
185000000
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-180000000
CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-868000000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10000000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
190000000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1058000000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
195000000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10000000
CY2021Q4 us-gaap Cash
Cash
26000000
CY2020Q4 us-gaap Cash
Cash
9000000
CY2019Q4 us-gaap Cash
Cash
44000000
CY2021Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
169000000
CY2020Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
1000000
CY2019Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
146000000
CY2021Q4 us-gaap Restricted Cash
RestrictedCash
0
CY2020Q4 us-gaap Restricted Cash
RestrictedCash
0
CY2019Q4 us-gaap Restricted Cash
RestrictedCash
0
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
195000000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10000000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
190000000
CY2020 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-17000000
CY2019 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
119000000
CY2020Q1 ovv Consolidation Share Conversion Description
ConsolidationShareConversionDescription
one post-consolidation share for each five pre-consolidation shares
CY2020Q1 ovv Common Stock Exchange Description
CommonStockExchangeDescription
one-for-one basis
CY2020Q1 ovv Common Stock Exchange Ratio
CommonStockExchangeRatio
1
CY2021 us-gaap Use Of Estimates
UseOfEstimates
<div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:5.77%;white-space:nowrap" valign="top"> <p style="text-align:justify;margin-top:10pt;margin-bottom:0pt;font-weight:bold;font-size:11pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-weight:bold;font-size:11pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">E)</span></p></td> <td valign="top"> <p style="text-align:justify;margin-top:10pt;margin-bottom:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:11pt;">USE OF ESTIMATES</p></td></tr></table></div> <p style="text-align:justify;margin-top:10pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Preparation of the Consolidated Financial Statements in conformity with U.S. GAAP requires Management to make informed estimates and assumptions and use judgments that affect reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the Consolidated Financial Statements and the reported amounts of revenues and expenses during the period. Such estimates primarily relate to unsettled transactions and events as of the date of the Consolidated Financial Statements. Accordingly, actual results may differ from estimated amounts as future events occur.</p> <p style="text-align:justify;margin-top:10pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Significant items subject to estimates and assumptions are:</p> <div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:3.85%;white-space:nowrap" valign="top"> <p style="text-align:justify;margin-top:10pt;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;"> </p></td> <td style="width:3.85%;white-space:nowrap" valign="top"> <p style="text-align:justify;margin-top:10pt;margin-bottom:0pt;font-size:10pt;font-family:'Times New Roman';font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-size:10pt;font-family:'Times New Roman';font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"/><span style="font-size:10pt;font-family:'Times New Roman'">•</span></p></td> <td valign="top"> <p style="text-align:justify;margin-top:10pt;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;"><span style="font-family:Times New Roman;">Estimates of proved reserves used for depletion and ceiling test impairment calculations</span></p></td></tr></table></div> <div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:3.85%;white-space:nowrap" valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;"> </p></td> <td style="width:3.85%;white-space:nowrap" valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-size:10pt;font-family:'Times New Roman';font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-size:10pt;font-family:'Times New Roman';font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"/><span style="font-size:10pt;font-family:'Times New Roman'">•</span></p></td> <td valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;"><span style="font-family:Times New Roman;">Estimated fair value of long-term assets used for impairment calculations</span></p></td></tr></table></div> <div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:3.85%;white-space:nowrap" valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;"> </p></td> <td style="width:3.85%;white-space:nowrap" valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-size:10pt;font-family:'Times New Roman';font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-size:10pt;font-family:'Times New Roman';font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"/><span style="font-size:10pt;font-family:'Times New Roman'">•</span></p></td> <td valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;"><span style="font-family:Times New Roman;">Fair value of reporting units used for the assessment of goodwill</span></p></td></tr></table></div> <div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:3.85%;white-space:nowrap" valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;"> </p></td> <td style="width:3.85%;white-space:nowrap" valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-size:10pt;font-family:'Times New Roman';font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-size:10pt;font-family:'Times New Roman';font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"/><span style="font-size:10pt;font-family:'Times New Roman'">•</span></p></td> <td valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;"><span style="font-family:Times New Roman;">Estimates of future taxable earnings used to assess the realizable value of deferred tax assets</span></p></td></tr></table></div> <div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:3.85%;white-space:nowrap" valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:12pt;"> </p></td> <td style="width:3.85%;white-space:nowrap" valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"><span style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"/><span style="font-size:10pt;font-family:'Times New Roman'">•</span></p></td> <td valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:12pt;"><span style="Background-color:#auto;text-decoration:none;"/><span style="color:#000000;"/><span style="font-size:10pt;color:#000000;">Estimates of incremental borrowing rates and lease terms used in the measurement of right-of-use (“ROU”) assets and lease liabilities</span></p></td></tr></table></div> <div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:3.85%;white-space:nowrap" valign="top"> <p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:12pt;"> </p></td> <td style="width:3.85%;white-space:nowrap" valign="top"> <p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;font-weight:normal;font-style:normal;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"><span style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"/><span style="font-size:10pt;font-family:'Times New Roman'">•</span></p></td> <td valign="top"> <p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:12pt;"><span style="Background-color:#auto;text-decoration:none;"/><span style="color:#000000;"/><span style="font-size:10pt;color:#000000;">Fair value of asset retirement costs and related obligations</span></p></td></tr></table></div> <div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:3.85%;white-space:nowrap" valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;"> </p></td> <td style="width:3.85%;white-space:nowrap" valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-size:10pt;font-family:'Times New Roman';font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-size:10pt;font-family:'Times New Roman';font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"/><span style="font-size:10pt;font-family:'Times New Roman'">•</span></p></td> <td valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;"><span style="font-family:Times New Roman;">Fair value of derivative instruments</span></p></td></tr></table></div> <div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:3.85%;white-space:nowrap" valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;"> </p></td> <td style="width:3.85%;white-space:nowrap" valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-size:10pt;font-family:'Times New Roman';font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-size:10pt;font-family:'Times New Roman';font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"/><span style="font-size:10pt;font-family:'Times New Roman'">•</span></p></td> <td valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;"><span style="font-family:Times New Roman;">Fair value attributed to assets acquired and liabilities assumed in business combinations</span></p></td></tr></table></div> <div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:3.85%;white-space:nowrap" valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;"> </p></td> <td style="width:3.85%;white-space:nowrap" valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-size:10pt;font-family:'Times New Roman';font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-size:10pt;font-family:'Times New Roman';font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"/><span style="font-size:10pt;font-family:'Times New Roman'">•</span></p></td> <td valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;"><span style="font-family:Times New Roman;">Tax interpretations, regulations and legislation in the various jurisdictions in which the Company and its subsidiaries operate</span></p></td></tr></table></div> <div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:3.85%;white-space:nowrap" valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;"> </p></td> <td style="width:3.85%;white-space:nowrap" valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-size:10pt;font-family:'Times New Roman';font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-size:10pt;font-family:'Times New Roman';font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"/><span style="font-size:10pt;font-family:'Times New Roman'">•</span></p></td> <td valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;"><span style="font-family:Times New Roman;">Accruals for long-term performance-based compensation arrangements, including whether or not the performance criteria will be met and measurement of the ultimate payout amount</span></p></td></tr></table></div> <div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:3.85%;white-space:nowrap" valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;"> </p></td> <td style="width:3.85%;white-space:nowrap" valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-size:10pt;font-family:'Times New Roman';font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-size:10pt;font-family:'Times New Roman';font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"/><span style="font-size:10pt;font-family:'Times New Roman'">•</span></p></td> <td valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;"><span style="font-family:Times New Roman;">Recognized values of pension assets and obligations, as well as the pension costs charged to net earnings, depend on certain actuarial and economic assumptions</span></p></td></tr></table></div> <div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:3.85%;white-space:nowrap" valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;"> </p></td> <td style="width:3.85%;white-space:nowrap" valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-size:10pt;font-family:'Times New Roman';font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-size:10pt;font-family:'Times New Roman';font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"/><span style="font-size:10pt;font-family:'Times New Roman'">•</span></p></td> <td valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;"><span style="font-family:Times New Roman;">Accruals for legal claims, environmental risks and exposures</span></p></td></tr></table></div>
CY2019 ovv Non Operating Income Expenses
NonOperatingIncomeExpenses
283000000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1239000000
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-5730000000
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
315000000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-177000000
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
367000000
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
81000000
CY2021 us-gaap Net Income Loss
NetIncomeLoss
1416000000
CY2020 us-gaap Net Income Loss
NetIncomeLoss
-6097000000
CY2019 us-gaap Net Income Loss
NetIncomeLoss
234000000
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
10468000000
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5509000000
CY2019 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2021 us-gaap Gain Loss From Price Risk Management Activity
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CY2021 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
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CY2020 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
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CY2019 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
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CY2020 ovv Other Comprehensive Income Loss Defined Benefit Plan Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Due To Curtailment Before Tax
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CY2019 ovv Other Comprehensive Income Loss Defined Benefit Plan Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Due To Curtailment Before Tax
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CY2020 ovv Other Comprehensive Income Loss Defined Benefit Plan Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Due To Curtailment Tax
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CY2020 ovv Other Comprehensive Income Loss Defined Benefit Plan Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Due To Settlement Before Tax
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CY2019 ovv Other Comprehensive Income Loss Defined Benefit Plan Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Due To Settlement Before Tax
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CY2020 ovv Other Comprehensive Income Loss Defined Benefit Plan Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Due To Settlement Tax
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CY2019 ovv Other Comprehensive Income Loss Defined Benefit Plan Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Due To Settlement Tax
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CY2021 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Settlements
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CY2020 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Settlements
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CY2020 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Transfers Out Of Level3
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CY2021Q4 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs
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CY2020Q4 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
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CY2020 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Period Increase Decrease
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CY2021 ovv Increase Decrease In Current Portion Of Operating Lease Liabilities
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CY2019 ovv Increase Decrease In Current Portion Of Operating Lease Liabilities
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CY2021 us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
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