Company: IMO
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0000049938-25-000028
Chunk: 4

Company: IMPERIAL OIL LTD
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 2
Chunk 4
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 (used in):                                                                            
  Operating activities                                                     1,527                 1,076  
  Investing activities                                          (377)                 (481)             
  Financing activities                                          (365)                 (283)             
  Increase (decrease) in cash and cash equivalents                785                   312             
  Cash and cash equivalents at period end                                  1,764                 1,176  

Cash flows from operating activities primarily reflect higher Upstream realizations and lower unfavourable 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:

                                                  First Quarter            
  millions of Canadian dollars, unless noted      2025               2024  
 ───────────────────────────────────────────────────────────────────────────
  Dividends paid                                  307                278   
  Per share dividend paid (dollars)               0.60               0.50  
  Share repurchases (a)                           —                  —     
  Number of shares purchased (millions) (a)       —                  —     

(a) The company did not purchase any shares in the first quarter of 2025 and 2024.

  IMPERIAL OIL LIMITED  

Forward-looking statements

Statements of future events or conditions in this report, including projections, targets, expectations, estimates, and business plans are forward-looking statements. Forward-looking statements can be identified by words such as believe, anticipate, intend, propose, plan, goal, seek, project, predict, target, estimate, expect, strategy, outlook, schedule, future, continue, likely, may, should, will and similar references to future periods. Forward-looking statements in this release include, but are not limited to, references to the use of derivative instruments and effectiveness of risk mitigation.

Forward-looking statements are based on the company's current expectations, estimates, projections and assumptions at the time the statements are made. Actual future financial and operating results, including expectations and assumptions concerning future energy demand, supply and mix; production rates, growth and mix across various assets; for shareholder returns, assumptions such as cash flow forecasts, financing sources and capital structure, participation of the company’s majority shareholder and the results of periodic and ongoing evaluation of alternate uses of capital; project plans, timing, costs, technical evaluations and capacities and the company’s ability to effectively execute on these plans and operate its assets, including the Strathcona renewable diesel project, the Leming, Grand Rapids and LASER projects at Cold Lake,