Company: IMO
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000049938-25-000015
Chunk: 127

Company: IMPERIAL OIL LTD
Filing Date: 2025-02-19
Form: 10-K
Item: Item 16
Chunk 127
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599  Lease liability due within one year    Included in Accounts payable and accrued liabilities100 — 87 — Included in Notes and loans payable18 21 Long-term lease liability    Included in Other long-term obligations144 — 111 — Included in Long-term debt545 564 Total lease liability244 563 198 585  Weighted-average remaining lease term (years)535636Weighted-average discount rate (percent)4.14.81.94.7

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 The maturity analysis of the company’s lease liabilities as at December 31 are summarized below:  2024 millions of Canadian dollarsOperating leases Finance leases Maturity analysis of lease liabilities 2025108 46 202661 44 202720 43 202819 41 202916 40 2030 and beyond39 817 Total lease payments263 1,031  Discount to present value(19)(468)Total lease liability244 563 In addition to the operating lease liabilities in the table immediately above, at December 31, 2024, additional undiscounted commitments for leases not yet commenced totalled $56 million (2023 - $54 million).Estimated cash payments for operating and finance leases not yet commenced are $52 million in 2025 and $1 million in 2026.The table below summarizes the cash paid for amounts included in the measurement of lease liabilities and the right of use assets obtained in exchange for new lease liabilities:  202420232022 millions of Canadian dollarsOperating leasesFinance leasesOperating leasesFinance leasesOperating leasesFinance leasesCash paid for amounts included in the measurement of lease liabilities      Cash flows from operating activities118 — 56 — 121 — Cash flows from financing activities 22  22  22  Non-cash right of use assets recorded for lease liabilities      In exchange for lease liabilities during the year152 — 61 — 117 — 

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Note 14. Long-term debt

At December 31millions of Canadian dollars2024 2023 Long-term debt (a) (b)3,447 3,447 Finance leases (c)545 564 Total long-term debt3,992 4,011 (a)Borrowed under an existing agreement with an affiliated company of ExxonMobil that provides for a long-term, variable-rate