Company: IMO
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000049938-25-000015
Chunk: 130

Company: IMPERIAL OIL LTD
Filing Date: 2025-02-19
Form: 10-K
Item: Item 16
Chunk 130
---
  included in net benefit cost (a)(67)(54)(110)(a)  This accumulated other comprehensive income component is included in the computation of net periodic benefit cost (note 4).Income tax expense (credit) for components of other comprehensive income (loss):

millions of Canadian dollars2024 2023 2022 Postretirement benefits liability adjustments:  Postretirement benefits liability adjustment (excluding amortization)134 (66)188 Amortization of postretirement benefits liability adjustment        included in net benefit cost16 13 27 Total150 (53)215  

Note 18. Divestment activities

Jointly with ExxonMobil Canada, Imperial signed an agreement in the second quarter of 2022 with Whitecap Resources Inc. for the sale of its interests in XTO Energy Canada which included assets in the Montney and Duvernay areas of central Alberta, for total cash consideration of approximately $1.9 billion ($0.9 billion Imperial's share). The transaction closed on August 31, 2022 and the company recognized a gain of approximately $0.2 billion, after tax. Imperial’s total assets associated with this transaction included about $0.9 billion (about $0.8 billion of property, plant and equipment) and about $0.2 billion total liabilities in the Upstream segment. 

106

Supplemental information on oil and gas exploration and production activities (unaudited)

The information on pages 107 to 108 excludes items not related to oil and natural gas extraction, such as administrative and general expenses, pipeline operations, gas plant processing fees and gains or losses on asset sales. The company’s 25 percent interest in proved synthetic crude oil reserves in the Syncrude joint venture is included as part of the company’s total proved oil and gas reserves and in the calculation of the standardized measure of discounted future cash flows, in accordance with U.S. Securities and Exchange Commission (SEC) and U.S. Financial Accounting Standards Board rules. Results of operations, costs incurred in property acquisitions, exploration and development activities, and capitalized costs include the company’s share of Kearl, Syncrude and other unproved mineable acreages in the following tables. 

Results of operations 

millions of Canadian dollars202420232022RevenueSales to third parties (a)7,1716,4207,154Transfers (a) (