Company: IMO
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000049938-25-000045
Chunk: 0

Company: IMPERIAL OIL LTD
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 1
Chunk 0
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(a)Includes export sales to the United States of $ 4,706 5,010

(b) Revenues include both revenue within the scope ofASC 606 and outside the scope ofASC 606. Trade receivables in "Accounts receivable - net" reported on the Consolidated balance sheet include both receivables within the scope ofASC 606 and outside the scope ofASC 606. Revenue and receivables outside the scope ofASC 606 primarily relate to physically settled commodity contracts accounted for as derivatives. Contractual terms, credit quality and type of customer are generally similar between contracts within the scope of ASC 606 and those outside it.

  Revenues                                   Six Months                                    
                                             to June 30                                    
  millions of Canadian dollars                     2025                  2024              
 ───────────────────────────────────────────────────────────────────────────────────────────
  Revenue from contracts with customers                      19,694                20,511  
  Revenue outside the scope of ASC 606                        3,980                 5,086  
  Total                                                      23,674                25,597  

(c) Capital and exploration expenditures (CAPEX) include exploration expenses, additions to property, plant and equipment, additions to finance leases, additional investments and acquisitions and the company’s share of similar costs for equity companies. CAPEX excludes the purchase of carbon emission credits.

(d) In 2025, benzene and aromatic solvents are reported under the Downstream segment, whereas in 2024, they were reported under the Chemicals segment. The company has determined that the impact of this change is not material; therefore, the comparative period has not been recast.

  IMPERIAL OIL LIMITED  

Note 3. Investment and other income

Investment and other income included gains and losses on asset sales as follows:

                                              Second Quarter                Six Months            
                                                                            to June 30            
  millions of Canadian dollars                          2025      2024            2025      2024  
 ──────────────────────────────────────────────────────────────────────────────────────────────────
  Proceeds from asset sales                                2         3              13         7  
  Book value of asset sales                                1         2               2         4  
  Gain (loss) on asset sales, before tax                   1         1              11         3  
  Gain (loss) on asset sales, after tax                    1         1              10         3  

Note