Page 35 - Suncor Report on Sustainability 2014 - English

Suncor: report on sustainability 2014 33

Economic performance

We are committed to delivering proitable growth

and strong shareholder value. At the same time,

the success of our business also has a signiicant

impact on the larger economy.

Our investment in energy production
$4.700 billion, compared to $4.847 billion
and marketing creates well-paying jobs, in 2012.

promotes economic growth, and provides – Cash low from operations* for 2013 was
governments and suppliers with valuable $9.412 billion, compared to $9.733 billion

revenues. Our economic success also allows in 2012.
us to make investments in our renewable

energy business and in new technologies Contribution to the economy
that improve performance.
The beneits of our success extend well beyond

the returns we provide to shareholders. In 2013,
In all these ways, we continue to create value – we contributed a combined $4 billion in

for our shareholders and society at large.
royalties and taxes for governments – revenues
that were then available to help fund public

Corporate performance
sector programs, including education, health
We had another strong inancial year in 2013. care and vital infrastructure.

The company continued to demonstrate
consistent cash low, a strong balance sheet We also generate economic growth and

and an ability to fund growth from internal prosperity through our supply chain purchases.
resources while steadily increasing the return Our combined spending on goods and services

of cash to shareholders.
in 2013 totalled $11.5 billion. We had more than
8,600 vendors worldwide.

Other developments:
– In 2013, royalties totalled just over $2 billion,
– Total upstream production averaged 562,400 including $859 million directed to the Alberta

barrels of oil equivalent per day (boe/d) in government related to oil sands royalties.
2013, compared to 549,100 boe/d in 2012. As well, current income taxes totalled

Oil sands production (excluding Syncrude) approximately $2 billion to governments
averaged 360,500 barrels per day (bbls/d)
in Canada and internationally.

in 2013, compared to 324,800 bbls/d in 2012.
– Capital spending in 2013 totalled $6.8 billion,

– Driven by strong project execution and
compared to $7.0 billion in 2012.
improved reliability, our Oil Sands business – A look at our supply chain spending

achieved an 11 per cent increase in annual shows we had more than 6,500 Canadian
production in 2013 as well as record annual vendors spanning all 10 provinces as well

synthetic crude oil (SCO) production. These as the Northwest Territories and the Yukon.
results were achieved despite a major The United States was our next biggest

turnaround in the second quarter as well
supplier (more than 1,600 vendors),
as third-party outages that impacted Oil
although we also purchased from 50-plus

Sands operations during the year.
other countries. The range of goods and
– Our recorded net earnings of $3.911 billion
services is extensive and includes heavy

in 2013, compared to $2.740 billion in equipment, drilling, construction,
2012. Operating earnings* for 2013 were
engineering, environmental services,