Company: IMO
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000049938-25-000015
Chunk: 122

Company: IMPERIAL OIL LTD
Filing Date: 2025-02-19
Form: 10-K
Item: Item 16
Chunk 122
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 deferred share units was $116 million (2023 - $52 million, 2022 - $103 million). Income tax benefit recognized in income related to this compensation expense for the year was $28 million (2023 - $13 million, 2022 - $25 million). Cash payments of $74 million were made related to this compensation expense in 2024 (2023 - $68 million, 2022 - $65 million). 

As of December 31, 2024, there was $208 million of total before-tax unrecognized compensation expense related to non-vested restricted stock units based on the company’s share price at the end of the current reporting period. The weighted-average vesting period of non-vested restricted stock units is 4.1 years. All units under the deferred share programs have vested as of December 31, 2024. 

Note 8. Investment and other income

Investment and other income includes gains and losses on asset sales as follows: millions of Canadian dollars2024 2023 2022 Proceeds from asset sales25 86 904 Book value of asset sales7 13 746 Gain (loss) on asset sales, before tax (a)18 73 158 Gain (loss) on asset sales, after tax (a)16 63 241 (a)2022 included a gain of $116 million ($208 million, after tax) from the sale of interests in XTO Energy Canada, which included the removal of a deferred tax liability.

Note 9. Litigation and other contingencies

A variety of claims have been made against the company and its subsidiaries in a number of lawsuits. Management has regular litigation reviews, including updates from corporate and outside counsel to assess the need for accounting recognition or disclosure of these contingencies. The company accrues an undiscounted liability for those contingencies where the incurrence of a loss is probable and the amount can be reasonably estimated. If a range of amounts can be reasonably estimated and no amount within the range is a better estimate than any other amount, then the minimum of the range is accrued. The company does not record liabilities when the likelihood that the liability has been incurred is probable but the amount cannot be reasonably estimated or when the liability is believed to be only reasonably possible or remote. For contingencies where an unfavourable outcome is reasonably possible and which are significant, the company discloses the nature of the contingency and, where feasible, an estimate of the possible loss. For