Suncor Energy (SU) 6-K Report to Shareholders for the Third Quarter of 2017

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EXHIBIT 99.3

Unaudited Consolidated Financial Statements for the third quarter ended September 30, 2017

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(unaudited)

	Three months ended September 30				Nine months ended September 30
($ millions)	2017		2016		2017		2016
Revenues and Other Income
Operating revenues, net of royalties (note 3)	7 986		7 409		23 051		18 967
Other income (loss) (note 4)	43		(15	)	84		(140	)
	8 029		7 394		23 135		18 827
Expenses
Purchases of crude oil and products	2 875		2 734		8 348		7 475
Operating, selling and general	2 264		2 212		6 810		6 614
Transportation	247		262		781		793
Depreciation, depletion, amortization and impairment	1 281		1 439		4 113		4 516
Exploration	13		146		78		203
Gain on disposal of assets (notes 13 and 14)	(5	)	(13	)	(555	)	(47	)
Financing (income) expenses (note 7)	(323	)	288		(471	)	(87	)
	6 352		7 068		19 104		19 467
Earnings (Loss) before Income Taxes	1 677		326		4 031		(640	)
Income Taxes – Expense (Recovery) (note 8)
Current	218		71		809		(112	)
Deferred	170		(137	)	146		(442	)
	388		(66	)	955		(554	)
Net Earnings (Loss)	1 289		392		3 076		(86	)
Net Earnings (Loss) Attributable to:
Common shareholders	1 289		392		3 076		(97	)
Non-controlling interest	—		—		—		11
	1 289		392		3 076		(86	)
Other Comprehensive (Loss) Income
Items that may be subsequently reclassified to earnings
Foreign currency translation adjustment	(100	)	36		(206	)	(294	)
Items that will not be reclassified to earnings
Actuarial gain (loss) on employee retirement benefit plans, net of income taxes	52		(434	)	53		(474	)
Other Comprehensive Loss	(48	)	(398	)	(153	)	(768	)
Total Comprehensive Income (Loss)	1 241		(6	)	2 923		(854	)
Per Common Share (dollars) (note 9)
Net earnings (loss) – basic	0.78		0.24		1.85		(0.05	)
Net earnings (loss) – diluted	0.78		0.24		1.84		(0.05	)
Net earnings (loss) – attributable to common shareholders – basic	0.78		0.24		1.85		(0.06	)
Net earnings (loss) – attributable to common shareholders – diluted	0.78		0.24		1.84		(0.06	)
Cash dividends	0.32		0.29		0.96		0.87
See accompanying notes to the interim consolidated financial statements.

​ 42   SUNCOR ENERGY INC. 2017 THIRD QUARTER

CONSOLIDATED BALANCE SHEETS
(unaudited)

($ millions)	September 30 2017	December 31 2016
Assets
Current assets
Cash and cash equivalents	2 757	3 016
Accounts receivable	3 598	3 182
Inventories	3 049	3 240
Income taxes receivable	157	376
Assets held for sale (notes 13 and 14)	—	1 205
Total current assets	9 561	11 019
Property, plant and equipment, net	72 026	71 259
Exploration and evaluation	2 043	2 038
Other assets	1 165	1 248
Goodwill and other intangible assets	3 062	3 075
Deferred income taxes	88	63
Total assets	87 945	88 702
Liabilities and Shareholders' Equity
Current liabilities
Short-term debt	2 060	1 273
Current portion of long-term debt	1 509	54
Accounts payable and accrued liabilities	5 872	5 588
Current portion of provisions	690	781
Income taxes payable	366	224
Liabilities associated with assets held for sale (notes 13 and 14)	—	197
Total current liabilities	10 497	8 117
Long-term debt	12 278	16 103
Other long-term liabilities	1 897	2 067
Provisions (note 12)	6 485	6 542
Deferred income taxes	11 410	11 243
Equity	45 378	44 630
Total liabilities and equity	87 945	88 702
See accompanying notes to the interim consolidated financial statements.

​ SUNCOR ENERGY INC. 2017 THIRD QUARTER   43

CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited)

	Three months ended September 30				Nine months ended September 30
($ millions)	2017		2016		2017		2016
Operating Activities
Net earnings (loss)	1 289		392		3 076		(86	)
Adjustments for:
Depreciation, depletion, amortization and impairment	1 281		1 439		4 113		4 516
Deferred income taxes	170		(137	)	146		(442	)
Accretion	62		67		184		204
Unrealized foreign exchange (gain) loss on U.S. dollar denominated debt	(441	)	121		(845	)	(771	)
Change in fair value of financial instruments and trading inventory	45		(5	)	112		265
Gain on disposal of assets (notes 13 and 14)	(4	)	(13	)	(426	)	(47	)
Loss on extinguishment of long-term debt (note 7)	—		—		25		99
Share-based compensation	139		67		(85	)	(59	)
Exploration	—		139		41		139
Settlement of decommissioning and restoration liabilities	(66	)	(48	)	(255	)	(206	)
Other	(3	)	3		37		11
Decrease (increase) in non-cash working capital	440		(46	)	88		(734	)
Cash flow provided by operating activities	2 912		1 979		6 211		2 889
Investing Activities
Capital and exploration expenditures	(1 695	)	(1 693	)	(4 930	)	(5 010	)
Cash acquired from Canadian Oil Sands Limited	—		—		—		109
Acquisitions	—		—		—		(946	)
Proceeds from disposal of assets	54		4		1 531		196
Other investments	(15	)	(4	)	(14	)	(11	)
(Increase) decrease in non-cash working capital	(109	)	122		(72	)	(45	)
Cash flow used in investing activities	(1 765	)	(1 571	)	(3 485	)	(5 707	)
Financing Activities
Net change in short-term debt	98		(705	)	925		1 250
Net change in long-term debt	(14	)	(137	)	(1 768	)	(1 679	)
Issuance of long-term debt (note 7)	—		993		—		993
Issuance of common shares under share option plans	29		5		105		17
(Purchase) issuance of common shares (notes 6 and 10)	(282	)	—		(578	)	2 782
Dividends paid on common shares	(531	)	(483	)	(1 598	)	(1 394	)
Cash flow (used in) provided by financing activities	(700	)	(327	)	(2 914	)	1 969
Increase (Decrease) in Cash and Cash Equivalents	447		81		(188	)	(849	)
Effect of foreign exchange on cash and cash equivalents	(42	)	13		(71	)	(98	)
Cash and cash equivalents at beginning of period	2 352		3 008		3 016		4 049
Cash and Cash Equivalents at End of Period	2 757		3 102		2 757		3 102
Supplementary Cash Flow Information
Interest paid	111		86		609		597
Income taxes paid (received)	155		(46	)	274		(56	)
See accompanying notes to the interim consolidated financial statements.

​ 44   SUNCOR ENERGY INC. 2017 THIRD QUARTER

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
(unaudited)

($ millions)	Share Capital		Contributed Surplus		Accumulated Other Comprehensive Income		Non- controlling Interest		Retained Earnings		Total		Number of Common Shares (thousands)
At December 31, 2015	19 466		633		1 265		—		17 675		39 039		1 446 013
Net earnings (loss)	—		—		—		11		(97	)	(86	)	—
Foreign currency translation adjustment	—		—		(294	)	—		—		(294	)	—
Actuarial loss on employee retirement benefit plans, net of income taxes of $167	—		—		—		—		(474	)	(474	)	—
Total comprehensive (loss) income	—		—		(294	)	11		(571	)	(854	)	—
Issued under share option plans	64		(44	)	—		—		—		20		597
Issued for cash, net of income taxes of $26 (note 10)	2 808		—		—		—		—		2 808		82 225
Issued for the acquisition of Canadian Oil Sands Limited	3 154		—		—		1 172		—		4 326		98 814
Equity transactions to eliminate non-controlling interest in Canadian Oil Sands Limited	1 298		—		—		(1 183	)	(115	)	—		36 879
Share-based compensation	—		31		—		—		—		31		—
Dividends paid on common shares	—		—		—		—		(1 394	)	(1 394	)	—
At September 30, 2016	26 790		620		971		—		15 595		43 976		1 664 528
At December 31, 2016	26 942		588		1 007		—		16 093		44 630		1 667 914
Net earnings	—		—		—		—		3 076		3 076		—
Foreign currency translation adjustment	—		—		(206	)	—		—		(206	)	—
Actuarial gain on employee retirement benefit plans, net of income taxes of $20	—		—		—		—		53		53		—
Total comprehensive (loss) income	—		—		(206	)	—		3 129		2 923		—
Issued under share option plans	134		(30	)	—		—		—		104		2 982
Purchase of common shares for cancellation (note 6)	(233	)	—		—		—		(345	)	(578	)	(14 441	)
Change in liability for share purchase commitment (note 6)	(53	)	—		—		—		(91	)	(144	)	—
Share-based compensation	—		41		—		—		—		41		—
Dividends paid on common shares	—		—		—		—		(1 598	)	(1 598	)	—
At September 30, 2017	26 790		599		801		—		17 188		45 378		1 656 455
See accompanying notes to the interim consolidated financial statements.

​ SUNCOR ENERGY INC. 2017 THIRD QUARTER   45

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(unaudited)

1. REPORTING ENTITY AND DESCRIPTION OF THE BUSINESS

Suncor Energy Inc. (Suncor or the company) is an integrated energy company headquartered in Canada. Suncor's operations include oil sands development and upgrading, onshore and offshore oil and gas production, petroleum refining, and product marketing primarily under the Petro-Canada brand. The consolidated financial statements of the company comprise the company and its subsidiaries and the company's interests in associates and joint arrangements.

The address of the company's registered office is 150 – 6th Avenue S.W., Calgary, Alberta, Canada, T2P 3E3.

2. BASIS OF PREPARATION

(a) Statement of Compliance

These condensed interim consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS), specifically International Accounting Standard (IAS) 34Interim Financial Reporting as issued by the International Accounting Standards Board. They are condensed as they do not include all of the information required for full annual financial statements, and they should be read in conjunction with the consolidated financial statements for the year ended December 31, 2016.

The policies applied in these condensed interim consolidated financial statements are based on IFRS issued and outstanding as at October 25, 2017.

(b) Basis of Measurement

The consolidated financial statements are prepared on a historical cost basis except as detailed in the accounting policies disclosed in the company's consolidated financial statements for the year ended December 31, 2016.

(c) Functional Currency and Presentation Currency

These consolidated financial statements are presented in Canadian dollars, which is the company's functional currency.

(d) Use of Estimates and Judgment

The timely preparation of financial statements requires that management make estimates and assumptions and use judgment. Accordingly, actual results may differ from estimated amounts as future confirming events occur. Significant estimates and judgment used in the preparation of the financial statements are described in the company's consolidated financial statements for the year ended December 31, 2016.

(e) Income taxes

The company recognizes the impacts of income tax rate changes in earnings in the period the rate change is substantively enacted.

​ 46   SUNCOR ENERGY INC. 2017 THIRD QUARTER

3. SEGMENTED INFORMATION

The company's operating segments are reported based on the nature of their products and services and management responsibility.

Intersegment sales of crude oil and natural gas are accounted for at market values and are included, for segmented reporting, in revenues of the segment making the transfer and expenses of the segment receiving the transfer. Intersegment amounts are eliminated on consolidation.

Three months ended September 30	Oil Sands				Exploration and        Production				Refining and    Marketing				Corporate,        Energy Trading        and Eliminations				Total
($ millions)	2017		2016		2017		2016		2017		2016		2017		2016		2017		2016
Revenues and Other Income
Gross revenues	2 319		2 320		766		462		5 110		4 679		5		12		8 200		7 473
Intersegment revenues	914		647		—		85		30		32		(944	)	(764	)	—		—
Less: Royalties	(82	)	(20	)	(132	)	(44	)	—		—		—		—		(214	)	(64	)
Operating revenues, net of royalties	3 151		2 947		634		503		5 140		4 711		(939	)	(752	)	7 986		7 409
Other (loss) income	(6	)	3		1		7		48		13		—		(38	)	43		(15	)
	3 145		2 950		635		510		5 188		4 724		(939	)	(790	)	8 029		7 394
Expenses
Purchases of crude oil and products	135		135		—		—		3 620		3 334		(880	)	(735	)	2 875		2 734
Operating, selling and general	1 513		1 420		109		107		481		549		161		136		2 264		2 212
Transportation	164		159		21		20		76		95		(14	)	(12	)	247		262
Depreciation, depletion, amortization and impairment	859		971		236		270		161		164		25		34		1 281		1 439
Exploration	3		—		10		146		—		—		—		—		13		146
Gain on disposal of assets	(3	)	—		—		—		(2	)	(13	)	—		—		(5	)	(13	)
Financing expenses (income)	40		57		—		12		2		—		(365	)	219		(323	)	288
	2 711		2 742		376		555		4 338		4 129		(1 073	)	(358	)	6 352		7 068
Earnings (Loss) before Income Taxes	434		208		259		(45	)	850		595		134		(432	)	1 677		326
Income Taxes – Expense (Recovery)
Current	67		(16	)	119		9		217		167		(185	)	(89	)	218		71
Deferred	53		62		(21	)	(198	)	36		(8	)	102		7		170		(137	)
	120		46		98		(189	)	253		159		(83	)	(82	)	388		(66	)
Net Earnings (Loss)	314		162		161		144		597		436		217		(350	)	1 289		392
Capital and Exploration Expenditures	1 340		1 306		189		283		159		101		7		3		1 695		1 693

​ SUNCOR ENERGY INC. 2017 THIRD QUARTER   47

Nine months ended September 30	Oil Sands				Exploration and        Production				Refiningand    Marketing				Corporate,        Energy Trading        and Eliminations				Total
($ millions)	2017		2016		2017		2016		2017		2016		2017		2016		2017		2016
Revenues and Other Income
Gross revenues	6 559		4 715		2 538		1 588		14 482		12 796		28		34		23 607		19 133
Intersegment revenues	2 462		1 451		—		114		55		96		(2 517	)	(1 661	)	—		—
Less: Royalties	(180	)	(48	)	(376	)	(118	)	—		—		—		—		(556	)	(166	)
Operating revenues, net of royalties	8 841		6 118		2 162		1 584		14 537		12 892		(2 489	)	(1 627	)	23 051		18 967
Other income (loss)	25		18		(22	)	45		86		26		(5	)	(229	)	84		(140	)
	8 866		6 136		2 140		1 629		14 623		12 918		(2 494	)	(1 856	)	23 135		18 827
Expenses
Purchases of crude oil and products	390		447		—		—		10 456		8 659		(2 498	)	(1 631	)	8 348		7 475
Operating, selling and general	4 641		4 143		321		368		1 462		1 617		386		486		6 810		6 614
Transportation	521		489		66		65		232		271		(38	)	(32	)	781		793
Depreciation, depletion, amortization and impairment	2 727		2 826		809		1 087		489		506		88		97		4 113		4 516
Exploration	9		30		69		173		—		—		—		—		78		203
Gain on disposal of assets	(4	)	(33	)	—		—		(454	)	(14	)	(97	)	—		(555	)	(47	)
Financing expenses (income)	125		176		22		62		12		12		(630	)	(337	)	(471	)	(87	)
	8 409		8 078		1 287		1 755		12 197		11 051		(2 789	)	(1 417	)	19 104		19 467
Earnings (Loss) before Income Taxes	457		(1 942	)	853		(126	)	2 426		1 867		295		(439	)	4 031		(640	)
Income Taxes – Expense (Recovery)
Current	129		(453	)	456		200		631		486		(407	)	(345	)	809		(112	)
Deferred	(11	)	(64	)	(118	)	(462	)	23		15		252		69		146		(442	)
	118		(517	)	338		(262	)	654		501		(155	)	(276	)	955		(554	)
Net Earnings (Loss)	339		(1 425	)	515		136		1 772		1 366		450		(163	)	3 076		(86	)
Capital and Exploration Expenditures	3 899		3 667		631		829		385		502		15		12		4 930		5 010

​ 48   SUNCOR ENERGY INC. 2017 THIRD QUARTER

4. OTHER INCOME (LOSS)

Other income consists of the following:

	Three months ended September 30				Nine months ended September 30
($ millions)	2017		2016		2017		2016
Energy trading activities
Losses recognized in earnings during the period	(38	)	(45	)	(18	)	(63	)
(Losses) gains on inventory valuation	(3	)	31		(46	)	48
Risk management activities(1)	(2	)	(23	)	32		(253	)
Investment and interest income	86		8		140		56
Risk mitigation and insurance proceeds(2)	—		—		—		26
Change in value of pipeline commitments and other	—		14		(24	)	46
	43		(15	)	84		(140	)

(1)

Includes fair value changes related to short-term derivative contracts in the Oil Sands and Refining and Marketing segments and long-term forward starting interest rate swaps in the Corporate segment.

(2)

Includes property damage insurance proceeds recorded in the second quarter of 2016 for the Terra Nova asset in the Exploration and Production segment.

5. SHARE-BASED COMPENSATION

The following table summarizes the share-based compensation expense recorded for all plans within Operating, Selling and General expense.

	Three months ended September 30		Nine months ended September 30
($ millions)	2017	2016	2017	2016
Equity-settled plans	8	7	41	31
Cash-settled plans	132	61	224	206
	140	68	265	237

6. NORMAL COURSE ISSUER BID

On April 26, 2017, the company announced its intention to commence a new Normal Course Issuer Bid (the 2017 NCIB) to repurchase shares through the facilities of the Toronto Stock Exchange, New York Stock Exchange and/or alternative trading platforms. Pursuant to the 2017 NCIB, the company may purchase for cancellation up to approximately $2.0 billion worth of its common shares between May 2, 2017 and May 1, 2018. During the third quarter of 2017, the company repurchased 7.2 million common shares under the 2017 NCIB at an average price of $39.19 per share, for a total repurchase cost of $282 million.

The following table summarizes the share repurchase activities during the period:

	Three months ended September 30		Nine months ended September 30
($ millions, except as noted)	2017	2016	2017	2016
Share repurchase activities(thousands of common shares)
Shares repurchased	7 220	—	14 441	—
Amounts charged to
Share capital	116	—	233	—
Retained earnings	166	—	345	—
Share repurchase cost	282	—	578	—

​ SUNCOR ENERGY INC. 2017 THIRD QUARTER   49

Under an automatic repurchase plan agreement with an independent broker, the company has recorded the following liability for share repurchases that may take place during its internal blackout period:

($ millions)	September 30 2017	Dec 31 2016
Amounts charged to
Share capital	53	—
Retained earnings	91	—
Liability for share purchase commitment	144	—

7. FINANCING (INCOME) EXPENSE

	Three months ended September 30				Nine months ended September 30
($ millions)	2017		2016		2017		2016
Interest on debt	218		243		704		753
Capitalized interest	(182	)	(153	)	(552	)	(434	)
Interest expense	36		90		152		319
Interest on pension and other post-retirement benefits	14		18		44		45
Accretion	62		67		184		204
Foreign exchange (gain) loss on U.S. dollar denominated debt	(441	)	121		(845	)	(771	)
Foreign exchange and other	6		(8	)	(31	)	17
Loss on extinguishment of long-term debt	—		—		87		99
Realized gains on foreign currency hedges	—		—		(62	)	—
	(323	)	288		(471	)	(87	)

During the second quarter of 2017, the company completed an early retirement of its US$1.250 billion (book value of $1.700 billion) long-term notes originally scheduled to mature on June 1, 2018 for US$1.344 billion ($1.830 billion), including US$31 million ($42 million) of accrued interest. In conjunction with the early retirement of the notes, the company also realized gains of $62 million on foreign currency hedges resulting in an overall debt extinguishment loss of $25 million ($10 million after-tax).

During the third quarter of 2016, the company issued $700 million of senior unsecured Series 5 Medium Term Notes maturing on September 14, 2026. The notes have a coupon of 3.00% and were priced at $99.751 per note for an effective yield of 3.029%. The company also issued $300 million of senior unsecured Series 5 Medium Term Notes maturing on September 13, 2046. The notes have a coupon of 4.34% and were priced at $99.900 per note for an effective yield of 4.346%.

During the second quarter of 2016, the company purchased US$688 million ($891 million) principal value (book value of $864 million) of subsidiary debt acquired through the acquisition of Canadian Oil Sands Limited (COS) for US$751 million ($973 million) including US$8 million ($10 million) of accrued interest, resulting in a debt extinguishment loss of $99 million ($73 million after-tax). The company also repaid approximately $600 million of the credit facility acquired in the COS transaction.

8. INCOME TAXES

In the third quarter of 2016, the United Kingdom (U.K.) government enacted a decrease in the supplementary charge rate on oil and gas profits in the North Sea that reduced the statutory tax rate on Suncor's earnings in the U.K. from 50% to 40%. The company revalued its deferred income tax balances, resulting in a deferred income tax recovery of $180 million.

​ 50   SUNCOR ENERGY INC. 2017 THIRD QUARTER

9. EARNINGS (LOSS) PER COMMON SHARE

	Three months ended September 30		Nine months ended September 30
($ millions)	2017	2016	2017		2016
Net earnings (loss)	1 289	392	3 076		(86	)
Dilutive impact of accounting for awards as equity-settled(1)	—	—	(1	)	—
Net earnings (loss) – diluted	1 289	392	3 075		(86	)
Net earnings (loss) attributable to common shareholders	1 289	392	3 076		(97	)
Dilutive impact of accounting for awards as equity-settled(1)	—	—	(1	)	—
Net earnings (loss) – diluted attributable to common shareholders	1 289	392	3 075		(97	)
(millions of common shares)
Weighted average number of common shares	1 659	1 664	1 665		1 591
Dilutive securities:
Effect of share options	3	2	4		1
Weighted average number of diluted common shares	1 662	1 666	1 669		1 592
(dollars per common share)
Basic earnings (loss) per share	0.78	0.24	1.85		(0.05	)
Diluted earnings (loss) per share	0.78	0.24	1.84		(0.05	)
Basic earnings (loss) per share attributable to common shareholders	0.78	0.24	1.85		(0.06	)
Diluted earnings (loss) per share attributable to common shareholders	0.78	0.24	1.84		(0.06	)

(1)

Cash payment alternatives are accounted for as cash-settled plans. As these awards can be exchanged for common shares of the company, they are considered potentially dilutive and are included in the calculation of the company's diluted net earnings (loss) per share if they have a dilutive impact in the period. Accounting for these awards as equity-settled was determined to have a dilutive impact for the three and nine months ended September 30, 2017 (anti-dilutive for the three and nine months ended September 30, 2016).

10. SHARE CAPITAL

On June 22, 2016, the company issued 82.2 million common shares for $35.00 per common share. Gross proceeds were approximately $2.878 billion ($2.782 billion net of fees).

11. FINANCIAL INSTRUMENTS

Derivative Financial Instruments

(a) Non-Designated Derivative Financial Instruments

The following table presents the company's non-designated Energy Trading, and Risk Management derivatives measured at fair value as at September 30, 2017:

($ millions)	Energy Trading		Risk Management		Total
Fair value outstanding at December 31, 2016	(36	)	(18	)	(54	)
Cash Settlements – received during the period	(17	)	(63	)	(80	)
(Losses) gains recognized in earnings during the period (note 4)	(18	)	32		14
Fair value outstanding at September 30, 2017	(71	)	(49	)	(120	)

​ SUNCOR ENERGY INC. 2017 THIRD QUARTER   51

(b) Fair Value Hierarchy

The following table presents the company's financial instruments measured at fair value for each hierarchy level as at September 30, 2017:

($ millions)	Level 1		Level 2		Level 3	Total Fair Value
Accounts receivable	39		56		—	95
Accounts payable	(98	)	(117	)	—	(215	)
	(59	)	(61	)	—	(120	)

During the third quarter of 2017, there were no transfers between Level 1 and Level 2 fair value measurements and no transfers into and out of Level 3 fair value measurements.

The company uses forward starting interest rate swaps to mitigate its exposure to the effect of future interest rate movements on future debt issuances. As at September 30, 2017, the company had $924 million in outstanding forward swaps. An increase in interest rates of 0.04% during the quarter resulted in an increase in value of $14 million associated with the remaining swaps. An increase in interest rates of 0.02% during the nine months ended September 30, 2017 resulted in an increase in value of $5 million associated with the remaining swaps.

Non-Derivative Financial Instruments

At September 30, 2017, the carrying value of fixed-term debt accounted for under amortized cost was $12.6 billion (December 31, 2016 – $15.1 billion) and the fair value was $14.9 billion (December 31, 2016 – $17.5 billion). The estimated fair value of long-term debt is based on pricing sourced from market data.

12. PROVISIONS

An increase in the credit-adjusted risk-free interest rate to 4.00% (December 31, 2016 – 3.90%) partially offset by recognition of additional disturbances resulted in an overall decrease in the decommissioning and restoration provision of $15 million for the nine months ended September 30, 2017.

13. SALE OF LUBRICANTS BUSINESS

On February 1, 2017, the company completed the previously announced sale of its lubricants business for proceeds of $1.1 billion before closing adjustments and other closing costs. The sale of this business resulted in an after-tax gain of $354 million, including a current tax expense of $101 million and a deferred tax recovery of $11 million, in the Refining and Marketing segment.

14. SALE OF CEDAR POINT

The company sold its interest in the Cedar Point wind facility in southwestern Ontario for proceeds of $291 million before closing adjustments and other closing costs, with an effective date of January 1, 2017. The disposition resulted in an after-tax gain of $83 million, including a current tax expense of $29 million and a deferred tax recovery of $15 million, in the Corporate, Energy Trading and Eliminations segment.

​ 52   SUNCOR ENERGY INC. 2017 THIRD QUARTER

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EXHIBIT 99.3