Exhibit 4.5  









   




































   Consolidated Statements of Comprehensive Income
  (unaudited) 








  



										
	 
	 	 	Three months ended March 31	 	 
	 ($ millions)
	 	 	2012	 	 	2011	 	 
	 
	 Revenues and Other Income
	 	 	 	 	 	 	 	 
	 	 Operating revenues, net of royalties (note 3)
	 	 	 9 653	 	 	 8 943	 	 
	 	 Other income (note 4)
	 	 	 105	 	 	 132	 	 
	 
	 
	 	 	 9 758	 	 	 9 075	 	 
	 
	 Expenses
	 	 	 	 	 	 	 	 
	 	 Purchases of crude oil and products
	 	 	 3 996	 	 	 3 489	 	 
	 	 Operating, selling and general
	 	 	 2 454	 	 	 2 291	 	 
	 	 Transportation
	 	 	 156	 	 	 167	 	 
	 	 Depreciation, depletion, amortization and impairment
	 	 	 947	 	 	 785	 	 
	 	 Exploration
	 	 	 45	 	 	 58	 	 
	 	 Loss (gain) on disposal of assets
	 	 	 (31	)	 	 251	 	 
	 	 Project start-up costs
	 	 	 1	 	 	 37	 	 
	 	 Financing expenses (income) (note 7)
	 	 	 (82	)	 	 (49	)	 
	 
	 
	 	 	 7 486	 	 	 7 029	 	 
	 
	 Earnings before Income Taxes
	 	 	 2 272	 	 	 2 046	 	 
	 
	 Income Taxes
	 	 	 	 	 	 	 	 
	 	 Current
	 	 	 497	 	 	 416	 	 
	 	 Deferred (note 8)
	 	 	 318	 	 	 602	 	 
	 
	 
	 	 	 815	 	 	 1 018	 	 
	 
	 Net Earnings
	 	 	 1 457	 	 	 1 028	 	 
	 
	 Other Comprehensive Income (Loss)
	 	 	 	 	 	 	 	 
	 	 Foreign currency translation adjustment
	 	 	 (50	)	 	 37	 	 
	 	 Foreign currency translation reclassified to net earnings
	 	 	 —	 	 	 14	 	 
	 	 Actuarial gain (loss) on employee retirement benefit plans,

net of income taxes of $9 (2011 – $4)
	 	 	 (9	)	 	 18	 	 
	 
	 Other Comprehensive Income (Loss)
	 	 	 (59	)	 	 69	 	 
	 
	 Total Comprehensive Income
	 	 	

1 398	 	 	

1 097	 	 
	 
	 Per Common Share (dollars) (note 9)
	 	 	 	 	 	 	 	 
	 	 Net earnings – basic
	 	 	 0.93	 	 	 0.65	 	 
	 	 Net earnings – diluted
	 	 	 0.93	 	 	 0.65	 	 
	 	 Cash dividends
	 	 	 0.11	 	 	 0.10	 	 
	 






See accompanying notes to the interim consolidated financial statements. 


Suncor Energy Inc.            
                                         
                                          
                                          
       2012 First
Quarter    043







 

 Consolidated Balance Sheets
  (unaudited) 








  



											
	 ($ millions)
	 	 	Mar 31

2012	 	 	Dec 31

2011	 	 
	 
	 Assets
	 	 	 	 	 	 	 	 
	 	 Current assets
	 	 	 	 	 	 	 	 
	 	 	 Cash and cash equivalents
	 	 	 4 648	 	 	 3 803	 	 
	 	 	 Accounts receivable
	 	 	 5 015	 	 	 5 412	 	 
	 	 	 Inventories
	 	 	 3 716	 	 	 4 205	 	 
	 	 	 Income taxes receivable
	 	 	 670	 	 	 704	 	 
	 
	 	 Total current assets
	 	 	 14 049	 	 	 14 124	 	 
	 	 Property, plant and equipment, net
	 	 	 53 769	 	 	 52 589	 	 
	 	 Exploration and evaluation
	 	 	 3 940	 	 	 4 554	 	 
	 	 Other assets
	 	 	 314	 	 	 311	 	 
	 	 Goodwill and other intangible assets
	 	 	 3 137	 	 	 3 139	 	 
	 	 Deferred income taxes
	 	 	 64	 	 	 60	 	 
	 
	 Total assets
	 	 	 75 273	 	 	 74 777	 	 
	 
	 Liabilities and Shareholders' Equity
	 	 	 	 	 	 	 	 
	 	 Current liabilities
	 	 	 	 	 	 	 	 
	 	 	 Short-term debt
	 	 	 749	 	 	 763	 	 
	 	 	 Current portion of long-term debt
	 	 	 12	 	 	 12	 	 
	 	 	 Accounts payable and accrued liabilities
	 	 	 6 947	 	 	 7 755	 	 
	 	 	 Current portion of provisions
	 	 	 1 082	 	 	 811	 	 
	 	 	 Income taxes payable
	 	 	 1 077	 	 	 969	 	 
	 
	 	 Total current liabilities
	 	 	 9 867	 	 	 10 310	 	 
	 	 Long-term debt
	 	 	 9 853	 	 	 10 004	 	 
	 	 Other long-term liabilities
	 	 	 2 188	 	 	 2 392	 	 
	 	 Provisions
	 	 	 3 620	 	 	 3 752	 	 
	 	 Deferred income taxes
	 	 	 10 053	 	 	 9 719	 	 
	 	 Shareholders' equity
	 	 	 39 692	 	 	 38 600	 	 
	 
	 	 Total liabilities and shareholders'
equity                                        
     
	 	 	 75 273	 	 	 74 777	 	 
	 






See accompanying notes to the interim consolidated financial statements. 


             Suncor Energy Inc.
 044    2012 First
Quarter                                        
                           For more information about Suncor Energy, visit our website www.suncor.com










   




































   Consolidated Statements of Cash Flows
  (unaudited) 



										
	 
	 	 	Three months ended March 31	 	 
	 ($ millions)
	 	 	2012	 	 	2011	 	 
	 
	 Operating Activities
	 	 	 	 	 	 	 	 
	 Net earnings
	 	 	 1 457	 	 	 1 028	 	 
	 Adjustments for:
	 	 	 	 	 	 	 	 
	 	 Depreciation, depletion, amortization and impairment
	 	 	 947	 	 	 785	 	 
	 	 Deferred income taxes
	 	 	 318	 	 	 602	 	 
	 	 Accretion
	 	 	 46	 	 	 38	 	 
	 	 Unrealized foreign exchange gain on U.S. dollar denominated long-term debt
	 	 	 (146	)	 	 (186	)	 
	 	 Change in fair value of derivative contracts
	 	 	 (39	)	 	 (55	)	 
	 	 Loss (gain) on disposal of assets
	 	 	 (31	)	 	 251	 	 
	 	 Share-based compensation
	 	 	 45	 	 	 173	 	 
	 	 Exploration
	 	 	 —	 	 	 2	 	 
	 	 Settlement of decommissioning and restoration liabilities
	 	 	 (166	)	 	 (138	)	 
	 	 Other
	 	 	 (5	)	 	 (107	)	 
	 Decrease in non-cash working capital
	 	 	 48	 	 	 125	 	 
	 
	 Cash flow provided by operating activities
	 	 	 2 474	 	 	 2 518	 	 
	 
	 Investing Activities
	 	 	 	 	 	 	 	 
	 Capital and exploration expenditures
	 	 	 (1 478	)	 	 (1 576	)	 
	 Acquisitions
	 	 	 —	 	 	 (842	)	 
	 Proceeds from disposal of assets
	 	 	 37	 	 	 2 690	 	 
	 Other investments
	 	 	 —	 	 	 5	 	 
	 Decrease in non-cash working capital
	 	 	 87	 	 	 816	 	 
	 
	 Cash flow provided by (used in) investing activities
	 	 	 (1 354	)	 	 1 093	 	 
	 
	 Financing Activities
	 	 	 	 	 	 	 	 
	 Net change in short-term debt
	 	 	 (14	)	 	 (1 232	)	 
	 Net change in long-term debt
	 	 	 (5	)	 	 (4	)	 
	 Issuance of common shares under share option plans
	 	 	 99	 	 	 168	 	 
	 Purchase of common shares for cancellation (note 6)
	 	 	 (183	)	 	 —	 	 
	 Dividends paid on common shares
	 	 	 (167	)	 	 (153	)	 
	 
	 Cash flow used in financing activities
	 	 	 (270	)	 	 (1 221	)	 
	 
	 Increase in Cash and Cash Equivalents
	 	 	

850	 	 	

2 390	 	 
	 Effect of foreign exchange on cash and cash equivalents
	 	 	 (5	)	 	 (2	)	 
	 Cash and cash equivalents at beginning of period
	 	 	 3 803	 	 	 1 077	 	 
	 
	 Cash and Cash Equivalents at End of Period
	 	 	 4 648	 	 	 3 465	 	 
	 
	 Supplementary Cash Flow Information
	 	 	 	 	 	 	 	 
	 Interest paid
	 	 	 64	 	 	 101	 	 
	 Income taxes paid
	 	 	 368	 	 	 308	 	 
	 






See accompanying notes to the interim consolidated financial statements. 


Suncor Energy Inc.            
                                         
                                          
                                          
       2012 First
Quarter    045







 

 Consolidated Statements of Changes in Shareholders' Equity
  (unaudited) 



																								
	 ($ millions)
	 	 	Share

Capital	 	 	Contributed

Surplus	 	 	Foreign

Currency

Translation	 	 	Cash Flow

Hedges	 	 	Retained

Earnings	 	 	Total	 	 	Number of

Common

Shares

(thousands)	 	 
	  
	 	 	 	 
	 At December 31, 2010
	 	 	 20 188	 	 	 507	 	 	 (451	)	 	 14	 	 	 14 934	 	 	 35 192	 	 	 1 565 489	 	 
	  
	 	 	 	 
	 Net earnings
	 	 	 —	 	 	 —	 	 	 —	 	 	 —	 	 	 1 028	 	 	 1 028	 	 	 —	 	 
	 Foreign currency translation adjustment
	 	 	 —	 	 	 —	 	 	 51	 	 	 —	 	 	 —	 	 	 51	 	 	 —	 	 
	 Actuarial gain on employee retirement benefit plans
	 	 	 —	 	 	 —	 	 	 —	 	 	 —	 	 	 18	 	 	 18	 	 	 —	 	 
	  
	 	 	 	 
	 Total comprehensive income
	 	 	 —	 	 	 —	 	 	 51	 	 	 —	 	 	 1 046	 	 	 1 097	 	 	 —	 	 
	 Issued under share option plans
	 	 	 262	 	 	 (41	)	 	 —	 	 	 —	 	 	 —	 	 	 221	 	 	 7 405	 	 
	 Issued under dividend reinvestment plan
	 	 	 4	 	 	 —	 	 	 —	 	 	 —	 	 	 (4	)	 	 —	 	 	 99	 	 
	 Share-based compensation
	 	 	 —	 	 	 43	 	 	 —	 	 	 —	 	 	 —	 	 	 43	 	 	 —	 	 
	 Dividends paid on common shares
	 	 	 —	 	 	 —	 	 	 —	 	 	 —	 	 	 (153	)	 	 (153	)	 	 —	 	 
	  
	 	 	 	 
	 At March 31, 2011
	 	 	 20 454	 	 	 509	 	 	 (400	)	 	 14	 	 	 15 823	 	 	 36 400	 	 	 1 572 993	 	 
	  
	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  
	 	 	 	 
	 At December 31, 2011
	 	 	 20 303	 	 	 545	 	 	 (207	)	 	 14	 	 	 17 945	 	 	 38 600	 	 	 1 558 636	 	 
	  
	 	 	 	 
	 Net earnings
	 	 	 —	 	 	 —	 	 	 —	 	 	 —	 	 	 1 457	 	 	 1 457	 	 	 —	 	 
	 Foreign currency translation adjustment
	 	 	 —	 	 	 —	 	 	 (50	)	 	 —	 	 	 —	 	 	 (50	)	 	 —	 	 
	 Actuarial loss on employee retirement benefit plans
	 	 	 —	 	 	 —	 	 	 —	 	 	 —	 	 	 (9	)	 	 (9	)	 	 —	 	 
	  
	 	 	 	 
	 Total comprehensive income
	 	 	 —	 	 	 —	 	 	 (50	)	 	 —	 	 	 1 448	 	 	 1 398	 	 	 —	 	 
	 Issued under share option plans
	 	 	 145	 	 	 (31	)	 	 —	 	 	 —	 	 	 —	 	 	 114	 	 	 5 428	 	 
	 Issued under dividend reinvestment plan
	 	 	 6	 	 	 —	 	 	 —	 	 	 —	 	 	 (6	)	 	 —	 	 	 162	 	 
	 Purchase of common shares for cancellation (note 6)
	 	 	 (71	)	 	 —	 	 	 —	 	 	 —	 	 	 (112	)	 	 (183	)	 	 (5 466	)	 
	 Liability for share purchase commitment (note 6)
	 	 	 (44	)	 	 —	 	 	 —	 	 	 —	 	 	 (66	)	 	 (110	)	 	 —	 	 
	 Share-based compensation
	 	 	 —	 	 	 40	 	 	 —	 	 	 —	 	 	 —	 	 	 40	 	 	 —	 	 
	 Dividends paid on common shares
	 	 	 —	 	 	 —	 	 	 —	 	 	 —	 	 	 (167	)	 	 (167	)	 	 —	 	 
	  
	 	 	 	 
	 At March 31, 2012
	 	 	 20 339	 	 	 554	 	 	 (257	)	 	 14	 	 	 19 042	 	 	 39 692	 	 	 1 558 760	 	 
	  
	 	 	 	 






See accompanying notes to the interim consolidated financial statements. 


             Suncor Energy Inc.
 046    2012 First
Quarter                                        
                           For more information about Suncor Energy, visit our website www.suncor.com










   





































  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 jointly controlled entities. 


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 consolidated interim financial statements have been prepared in accordance with Canadian generally accepted accounting principles, specifically International
Accounting Standard 34 Interim 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, 2011. 


The
policies applied in these condensed interim consolidated financial statements are based on International Financial Reporting Standards (IFRS) issued and outstanding as at April 30, 2012,
the date the Audit Committee approved these statements on behalf of the Board of Directors. 



(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, 2011. Those accounting policies have been applied consistently to all periods presented in these financial statements. 


(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, 2011. 


 3. SEGMENTED INFORMATION  


The company's operating segments are determined based on differences in the nature of their operations, products and services. 



Intersegment
sales of crude oil and natural gas are accounted for at market values and 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. 


Suncor Energy Inc.            
                                         
                                          
                                          
       2012 First
Quarter    047







 


																																	
	

 
	
 	
 	
Three months ended March 31

	
 	

 
	 
	 	 	Oil Sands(1)	 	 	Exploration and

Production	 	 	Refining and

Marketing	 	 	Corporate,

Energy Trading

and Eliminations	 	 	Total	 	 
	 ($ millions)
	 	 	2012	 	 	2011	 	 	2012	 	 	2011	 	 	2012	 	 	2011	 	 	2012	 	 	2011	 	 	2012	 	 	2011	 	 
	 
	 Revenues and Other Income
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 Gross revenues
	 	 	 2 335	 	 	 2 045	 	 	 1 690	 	 	 1 606	 	 	 6 363	 	 	 5 838	 	 	 23	 	 	 9	 	 	 10 411	 	 	 9 498	 	 
	 Intersegment revenues
	 	 	 882	 	 	 846	 	 	 272	 	 	 209	 	 	 37	 	 	 1	 	 	 (1 191	)	 	 (1 056	)	 	 —	 	 	 —	 	 
	 Less: Royalties
	 	 	 (280	)	 	 (123	)	 	 (478	)	 	 (432	)	 	 —	 	 	 —	 	 	 —	 	 	 —	 	 	 (758	)	 	 (555	)	 
	 
	 Operating revenues, net of royalties
	 	 	 2 937	 	 	 2 768	 	 	 1 484	 	 	 1 383	 	 	 6 400	 	 	 5 839	 	 	 (1 168	)	 	 (1 047	)	 	 9 653	 	 	 8 943	 	 
	 Other income
	 	 	 3	 	 	 1	 	 	 41	 	 	 3	 	 	 (2	)	 	 37	 	 	 63	 	 	 91	 	 	 105	 	 	 132	 	 
	 
	 
	 	 	 2 940	 	 	 2 769	 	 	 1 525	 	 	 1 386	 	 	 6 398	 	 	 5 876	 	 	 (1 105	)	 	 (956	)	 	 9 758	 	 	 9 075	 	 
	 
	 Expenses
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 Purchases of crude oil and products
	 	 	 48	 	 	 51	 	 	 132	 	 	 120	 	 	 5 012	 	 	 4 295	 	 	 (1 196	)	 	 (977	)	 	 3 996	 	 	 3 489	 	 
	 Operating, selling and general
	 	 	 1 517	 	 	 1 320	 	 	 193	 	 	 236	 	 	 569	 	 	 575	 	 	 175	 	 	 160	 	 	 2 454	 	 	 2 291	 	 
	 Transportation
	 	 	 72	 	 	 85	 	 	 30	 	 	 32	 	 	 48	 	 	 59	 	 	 6	 	 	 (9	)	 	 156	 	 	 167	 	 
	 Depreciation, depletion, amortization and impairment
	 	 	 440	 	 	 311	 	 	 360	 	 	 354	 	 	 111	 	 	 102	 	 	 36	 	 	 18	 	 	 947	 	 	 785	 	 
	 Exploration
	 	 	 40	 	 	 40	 	 	 5	 	 	 18	 	 	 —	 	 	 —	 	 	 —	 	 	 —	 	 	 45	 	 	 58	 	 
	 Loss (gain) on disposal of assets
	 	 	 (29	)	 	 112	 	 	 —	 	 	 146	 	 	 (2	)	 	 (6	)	 	 —	 	 	 (1	)	 	 (31	)	 	 251	 	 
	 Project start-up costs
	 	 	 1	 	 	 37	 	 	 —	 	 	 —	 	 	 —	 	 	 —	 	 	 —	 	 	 —	 	 	 1	 	 	 37	 	 
	 Financing expenses (income)
	 	 	 29	 	 	 18	 	 	 43	 	 	 25	 	 	 (1	)	 	 6	 	 	 (153	)	 	 (98	)	 	 (82	)	 	 (49	)	 
	 
	 
	 	 	 2 118	 	 	 1 974	 	 	 763	 	 	 931	 	 	 5 737	 	 	 5 031	 	 	 (1 132	)	 	 (907	)	 	 7 486	 	 	 7 029	 	 
	 
	 Earnings (Loss) before Income Taxes
	 	 	 822	 	 	 795	 	 	 762	 	 	 455	 	 	 661	 	 	 845	 	 	 27	 	 	 (49	)	 	 2 272	 	 	 2 046	 	 
	 Income taxes
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 Current
	 	 	 2	 	 	 —	 	 	 437	 	 	 388	 	 	 37	 	 	 15	 	 	 21	 	 	 13	 	 	 497	 	 	 416	 	 
	 Deferred
	 	 	 213	 	 	 190	 	 	 (7	)	 	 253	 	 	 150	 	 	 203	 	 	 (38	)	 	 (44	)	 	 318	 	 	 602	 	 
	 
	 
	 	 	 215	 	 	 190	 	 	 430	 	 	 641	 	 	 187	 	 	 218	 	 	 (17	)	 	 (31	)	 	 815	 	 	 1 018	 	 
	 
	 Net Earnings (Loss)
	 	 	 607	 	 	 605	 	 	 332	 	 	 (186	)	 	 474	 	 	 627	 	 	 44	 	 	 (18	)	 	 1 457	 	 	 1 028	 	 
	 
	 Capital and Exploration Expenditures
	 	 	 1 177	 	 	 1 180	 	 	 206	 	 	 228	 	 	 89	 	 	 106	 	 	 6	 	 	 62	 	 	 1 478	 	 	 1 576	 	 
	 





	(1)
	During
the first quarter of 2012, the company completed a review of the presentation of purchase and sale transactions in its Oil Sands segment. It was
determined that certain transactions previously recorded on a gross basis are more appropriately reflected through net presentation. 




Prior
period comparative figures have been reclassified for comparability with the current period presentation. The impact is as follows: 









						
	 	 
	 	Three months ended	 	 
	 	 ($ millions, increase/(decrease))
	 	March 31, 2011	 	 
	 	 
	 	 Gross revenues
	 	 (313	)	 
	 	 Purchases of crude oil and products
	 	 (313	)	 
	 	 
	 	 Net earnings
	 	 —	 	 
	 	 






             Suncor Energy Inc.
 048    2012 First
Quarter                                        
                           For more information about Suncor Energy, visit our website www.suncor.com 







 

 4. OTHER INCOME  


Other Income consists of the following: 



										
	 
	 	 	Three months ended

March 31	 	 
	 ($ millions)
	 	 	2012	 	 	2011	 	 
	 
	 Risk management activities
	 	 	 (7	)	 	 (18	)	 
	 Energy trading activities
	 	 	 	 	 	 	 	 
	 	 Change in fair value of contracts
	 	 	 100	 	 	 23	 	 
	 	 Unrealized gains (losses) on inventory valuation
	 	 	 (19	)	 	 41	 	 
	 Investment and interest income
	 	 	 18	 	 	 72	 	 
	 Renewable energy grants
	 	 	 9	 	 	 12	 	 
	 Other
	 	 	 4	 	 	 2	 	 
	 
	 
	 	 	 105	 	 	 132	 	 
	 






 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

March 31	 	 
	 ($ millions)
	 	 	2012	 	 	2011	 	 
	 
	 Equity-settled plans
	 	 	 40	 	 	 43	 	 
	 Cash-settled plans
	 	 	 112	 	 	 228	 	 
	 
	 
	 	 	 152	 	 	 271	 	 
	 






 6. NORMAL COURSE ISSUER BID  


In February 2012, the company recommenced its Normal Course Issuer Bid (NCIB), and may purchase for cancellation an additional
$1 billion of its common shares between February 28, 2012 and September 5, 2012. 


During
the quarter, the company purchased 5.5 million common shares for total consideration of $183 million. Of the amount paid, $71 million was charged to share capital and
$112 million to retained earnings. 


At
March 31, 2012, the company recorded a liability of $110 million for share purchases that may take place during its internal trading blackout period under an automatic share purchase
agreement with an independent broker. Of the liability recognized, $44 million was charged to share capital and $66 million to retained earnings. 


During
the third and fourth quarters of 2011, the company completed the purchase of 17.1 million shares for total consideration of $500 million under the NCIB announced in
August 2011. Of the amount paid, $222 million was charged to share capital and $278 million to retained earnings. 


Suncor Energy Inc.            
                                         
                                          
                                          
       2012 First
Quarter    049







 

 7. FINANCING EXPENSES (INCOME)  



										
	 
	 	 	Three months ended

March 31	 	 
	 ($ millions)
	 	 	2012	 	 	2011	 	 
	 
	 Interest on debt
	 	 	 162	 	 	 161	 	 
	 Capitalized interest
	 	 	 (158	)	 	 (100	)	 
	 
	 	 Interest expense
	 	 	 4	 	 	 61	 	 
	 	 Accretion
	 	 	 46	 	 	 38	 	 
	 	 Foreign exchange gain on U.S. dollar denominated long-term debt
	 	 	 (146	)	 	 (186	)	 
	 	 Foreign exchange and other
	 	 	 14	 	 	 38	 	 
	 
	 
	 	 	 (82	)	 	 (49	)	 
	 






 8. INCOME TAXES  


In the first quarter of 2011, the U.K. government substantively enacted a 12% increase in the supplementary charge on
U.K. oil and gas profits. Accordingly, the company recognized an increase in deferred tax expense of $442 million related to the revaluation of deferred income tax balances. 


 9. EARNINGS PER COMMON SHARE  



										
	 
	 	 	Three months ended

March 31	 	 
	 ($ millions)
	 	 	2012	 	 	2011	 	 
	 
	 Net earnings
	 	 	 1 457	 	 	 1 028	 	 
	 
	 (millions of common shares)
	 	 	 	 	 	 	 	 
	 Weighted-average number of common shares
	 	 	 1 561	 	 	 1 570	 	 
	 Dilutive securities:
	 	 	 	 	 	 	 	 
	 	 Effect of share options
	 	 	 6	 	 	 11	 	 
	 
	 Weighted-average number of diluted common shares
	 	 	 1 567	 	 	 1 581	 	 
	 
	 (dollars per common share)
	 	 	 	 	 	 	 	 
	 Basic earnings per share
	 	 	 0.93	 	 	 0.65	 	 
	 Diluted earnings per share
	 	 	 0.93	 	 	 0.65	 	 
	 






             Suncor Energy Inc.
 050    2012 First
Quarter                                        
                           For more information about Suncor Energy, visit our website www.suncor.com