Company: IMO
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000049938-25-000015
Chunk: 124

Company: IMPERIAL OIL LTD
Filing Date: 2025-02-19
Form: 10-K
Item: Item 16
Chunk 124
---
, 2022584,153 1,079 Purchases at stated value(48,316)(87)Balance as at December 31, 2023535,837 992 Purchases at stated value(26,792)(50)Balance as at December 31, 2024509,045 942 The following table provides the calculation of basic and diluted earnings per common share and the dividends declared by the company on its outstanding common shares:  2024 2023 2022 Net income (loss) per common share – basic   Net income (loss) (millions of Canadian dollars)4,790 4,889 7,340 Weighted-average number of common shares outstanding (millions of shares)529.4 574.8 640.2 Net income (loss) per common share (dollars)9.05 8.51 11.47  Net income (loss) per common share – diluted   Net income (loss) (millions of Canadian dollars)4,790 4,889 7,340 Weighted-average number of common shares outstanding (millions of shares)529.4 574.8 640.2 Effect of employee share-based awards (millions of shares) 1.2 1.1 1.3 Weighted-average number of common shares outstanding,         assuming dilution (millions of shares)530.6 575.9 641.5 Net income (loss) per common share (dollars)9.03 8.49 11.44  Dividends per common share – declared (dollars)2.40 1.94 1.46 

99

Note 11. Miscellaneous financial information

LIFO inventoryIn 2024, net income included an after-tax gain of $61 million (2023 - $5 million gain, 2022 - $62 million gain) attributable to the effect of changes in last-in, first-out (LIFO) inventories. The replacement cost of inventories was estimated to exceed their LIFO carrying values at December 31, 2024 by about $2.0 billion (2023 - $2.2 billion). Inventories of crude oil and products at year-end consisted of the following: millions of Canadian dollars2024 2023 Crude oil701 979 Petroleum products513 579 Chemical products