Company: IMO
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0000049938-25-000070
Chunk: 6

Company: IMPERIAL OIL LTD
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 2
Chunk 6
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, unless noted             2025      2024  
 ─────────────────────────────────────────────────────────────────────────
  Refinery throughput                                     400       395  
  Refinery capacity utilization (percent)                  92        91  
  Petroleum product sales                                 466       469  

Chemicals

Net income (loss) factor analysis

millions of Canadian dollars

Margins - Lower margins primarily reflect weaker industry polyethylene margins.

  IMPERIAL OIL LIMITED  

Corporate and other

                                      Nine Months            
  millions of Canadian dollars               2025      2024  
 ─────────────────────────────────────────────────────────────
  Net income (loss) (U. S. GAAP)            (770)      (99)  

Current year results include identified items1 of a $306 million after-tax ($406 million before-tax) non-cash impairment charge and a $249 million after-tax ($330 million before-tax) restructuring charge; results also reflect higher incentive compensation as a result of the higher share price.

Liquidity and capital resources

                                                        Nine Months                                      
  millions of Canadian dollars                                 2025                   2024               
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────
  Cash flows from (used in):                                                                             
  Operating activities                                                     4,790                  4,192  
  Investing activities                                                   (1,331)                (1,421)  
  Financing activities                                                   (2,577)                (2,145)  
  Increase (decrease) in cash and cash equivalents              882                    626               

Cash flows from operating activities primarily reflect favourable working capital impacts.

Cash flows used in investing activities primarily reflect lower additions to property, plant and equipment.

Cash flows used in financing activities primarily reflect:

                                                                                                                                                        Nine Months                       
  millions of Canadian dollars, unless noted                                                                                                                   2025                 2024  
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Dividends paid                                                                                                                                                         1,040       921  
  Per share dividend paid (dollars)                                                                                                                            2.04                 1.70  
  Share repurchases (a)                                                                                                                                                  1,469            
  Number of shares purchased (millions) (a)                                                                                                                    12.2                 12.4  
  (a) Share repurchases were made under the company’s normal course issuer bid program, and include shares purchased