Company: IMO
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000049938-25-000015
Chunk: 117

Company: IMPERIAL OIL LTD
Filing Date: 2025-02-19
Form: 10-K
Item: Item 16
Chunk 117
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 asset allocation for equity securities is 30 percent with the remainder in fixed-income securities. The fair value measurement levels are accounting terms that refer to different methods of valuing assets. The terms do not represent the relative risk or credit quality of an investment. The 2024 fair value of the pension plan assets, including the level within the fair value hierarchy, is shown in the table below: Fair value measurements at December 31, 2024, using:millions of Canadian dollarsTotalLevel 1Level 2Level 3Net AssetValueAsset class   Equity securities   Canadian— — Non-Canadian2,584 2,584 Debt securities - Canadian  Corporate1,220 1,220 Government4,400 4,400 Asset backed4 4 Other18 18 Equities – Venture capital134 134 Real Estate154 154 Cash39 3 36 Total plan assets at fair value8,553 3   8,550 

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The 2023 fair value of the pension plan assets, including the level within the fair value hierarchy, is shown in the table below:  Fair value measurements at December 31, 2023, using:millions of Canadian dollarsTotalLevel 1Level 2Level 3Net AssetValueAsset class     Equity securities     Canadian— — Non-Canadian2,347 2,347 Debt securities - Canadian    Corporate1,193 1,193 Government4,251 4,251 Asset backed— — Other5 5 Equities – Venture capital124 124 Real Estate93 93 Cash41 7 34 Total plan assets at fair value8,054 7   8,047 A summary of pension plans with accumulated benefit obligation and projected benefit obligation in excess of plan assets is shown in the table below:                    Pension benefitsmillions of Canadian dollars2024 2023 For funded pension plans with projected benefit obligation in excess of plan assets: (a)  Projected benefit obligation — — Fair value of plan assets— — Projected benefit obligation less fair value of plan assets— —  For unfunded pension plans covered by book reserves:  Projected benefit obligation431 435 Accumulated benefit obligation386 395 (a)In 2024 and 2023, the fair value of