Imperial Oil Limited (IMO) 10-Q 6 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2015
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Trading Symbol	IMO
Entity Registrant Name	IMPERIAL OIL LTD
Entity Central Index Key	49938
Current Fiscal Year End Date	-19
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	847,599,011

Consolidated_Statement_Of_Inco

Consolidated Statement Of Income (U.S. GAAP) (CAD)	3 Months Ended
In Millions, except Per Share data, unless otherwise specified	Mar. 31, 2015		Mar. 31, 2014
REVENUES AND OTHER INCOME
Operating revenues	6,170	[1],[2],[3]	9,197	[1],[2],[3]
Investment and other income (note 3)	33		29
TOTAL REVENUES AND OTHER INCOME	6,203		9,226
EXPENSES
Exploration	17		21
Purchases of crude oil and products	3,305	[4]	5,542	[4]
Production and manufacturing	1,359	[5]	1,476	[5]
Selling and general	264		275
Federal excise tax	377	[1]	370	[1]
Depreciation and depletion	317		280
Financing costs (note 5)	3		2
TOTAL EXPENSES	5,642		7,966
INCOME BEFORE INCOME TAXES	561		1,260
INCOME TAXES	140		314
NET INCOME	421		946
PER SHARE INFORMATION (Canadian dollars)
Net income per common share - basic (note 8)	0.5		1.12
Net income per common share - diluted (note 8)	0.5		1.11
Dividends per common share	0.13		0.13
[1]	Federal excise tax included in operating revenues 377 370
[2]	Amounts from related parties included in operating revenues 638 816
[3]	Included export sales to the United States of $801 million (2014 - $1,426 million). Export sales to the United States were recorded in all operating segments, with the largest effects in the Upstream segment
[4]	Amounts to related parties included in purchases of crude oil and products 686 770
[5]	Amounts to related parties included in production and manufacturing expenses 102 86

Consolidated_Statement_Of_Inco1

Consolidated Statement Of Income (U.S. GAAP) (Parenthetical) (CAD)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015		Mar. 31, 2014
Federal excise tax included in operating revenues	377	[1]	370	[1]
Amounts from related parties included in operating revenues	638		816
Amounts to related parties included in purchases of crude oil and products	686		770
Amounts to related parties included in production and manufacturing expenses	102		86
[1]	Federal excise tax included in operating revenues 377 370

Consolidated_Statement_of_Comp

Consolidated Statement of Comprehensive Income (U.S. GAAP) (CAD)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
NET INCOME	421	946
Other comprehensive income, net of income taxes
Post-retirement benefit liability adjustment (excluding amortization)	-176	-38
Amortization of post-retirement benefit liability adjustment included in net periodic benefit costs	42	38
Total other comprehensive income/(loss)	-134
Comprehensive income	287	946

Consolidated_Balance_Sheet_US_

Consolidated Balance Sheet (U.S. GAAP) (CAD)	Mar. 31, 2015		Dec. 31, 2014
In Millions, unless otherwise specified
Current assets
Cash	60	[1]	215
Accounts receivable, less estimated doubtful accounts	1,752	[2]	1,539	[2]
Inventories of crude oil and products	1,050		1,121
Materials, supplies and prepaid expenses	466		380
Deferred income tax assets	267		314
Total current assets	3,595		3,569
Long-term receivables, investments and other long-term assets	1,467		1,406
Property, plant and equipment,	51,818		50,911
less accumulated depreciation and depletion	-15,557		-15,337
Property, plant and equipment, net	36,261		35,574
Goodwill	224		224
Other intangible assets, net	61		57
TOTAL ASSETS	41,608		40,830
Current liabilities
Notes and loans payable	1,938	[3]	1,978	[3]
Accounts payable and accrued liabilities (note 7)	3,583	[2]	3,969	[2]
Income taxes payable	218		34
Total current liabilities	5,739		5,981
Long-term debt (note 6)	5,610	[4]	4,913	[4]
Other long-term obligations (note 7)	3,784	[5]	3,565	[5]
Deferred income tax liabilities	3,768		3,841
TOTAL LIABILITIES	18,901		18,300
SHAREHOLDERS' EQUITY
Common shares at stated value	1,566	[6]	1,566	[6]
Earnings reinvested	23,334		23,023
Accumulated other comprehensive income (note 9)	-2,193		-2,059
TOTAL SHAREHOLDERS' EQUITY	22,707		22,530
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	41,608		40,830
[1]	Cash is composed of cash in bank and cash equivalents at cost. Cash equivalents are all highly liquid securities with maturity of three months or less when purchased
[2]	Accounts receivable, less estimated doubtful accounts included amounts receivable from related parties of $54 million (2014 - accounts payable and accrued liabilities included amounts payable to related parties of $174 million)
[3]	Notes and loans payable included amounts to related parties of $75 million (2014 - $75 million)
[4]	Long-term debt included amounts to related parties of $5,463 million (2014 - $4,746 million)
[5]	Other long-term obligations include amounts to related parties of $105 million (2014 - $96 million)
[6]	Number of common shares authorized and outstanding were 1,100 million and 848 million, respectively (2014 - 1,100 million and 848 million, respectively)

Consolidated_Balance_Sheet_US_1

Consolidated Balance Sheet (U.S. GAAP) (Parenthetical) (CAD)	Mar. 31, 2015	Dec. 31, 2014
In Millions, unless otherwise specified
Due to related parties, current	75	75
Amounts (payable) receivable from related parties	54	-174
Common shares authorized	1,100	1,100
Common shares outstanding	848	848
Long-term debt
Due to related parties	5,463	4,746
Other long-term debt
Due to related parties	105	96

Consolidated_Statement_of_Cash

Consolidated Statement of Cash Flows (U.S. GAAP) (CAD)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015		Mar. 31, 2014
OPERATING ACTIVITIES
NET INCOME	421		946
Adjustments for non-cash items:
Depreciation and depletion	317		280
(Gain)/loss on asset sales (note 3)	-26		-20
Deferred income taxes and other	18		5
Changes in operating assets and liabilities:
Accounts receivable	-213		-654
Inventories, materials, supplies and prepaid expenses	-15		-28
Income taxes payable	184		92
Accounts payable and accrued liabilities	-386		435
All other items - net	-19	[1]	29	[1]
CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES	281		1,085
INVESTING ACTIVITIES
Additions to property, plant and equipment	-1,011		-1,206
Proceeds associated with asset sales	25	[2]	75	[2]
Additional investments	-16		-12
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES	-1,002		-1,143
FINANCING ACTIVITIES
Short-term debt - net	-39
Long-term debt issued	717
Reduction in capitalized lease obligations	-2		-2
Dividends paid	-110		-110
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES	566		-112
INCREASE (DECREASE) IN CASH	-155		-170
CASH AT BEGINNING OF PERIOD	215		272
CASH AT END OF PERIOD	60	[3]	102	[3]
[1]	Included contribution to registered pension plans (63 ) (76 )
[2]	2014 included $50 million deposit for the sale of producing conventional assets which closed in the second quarter of 2014
[3]	Cash is composed of cash in bank and cash equivalents at cost. Cash equivalents are all highly liquid securities with maturity of three months or less when purchased

Consolidated_Statement_of_Cash1

Consolidated Statement of Cash Flows (U.S. GAAP) (Parenthetical) (CAD)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Included contribution to registered pension plans	-63	-76
Deposit for a potential asset sale		50

Basis_of_financial_statement_p

Basis of financial statement preparation	3 Months Ended
	Mar. 31, 2015
Basis of financial statement preparation	1	Basis of financial statement preparation
	These unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles of the United States of America and follow the same accounting policies and methods of computation as, and should be read in conjunction with, the most recent annual consolidated financial statements filed with the U.S. Securities and Exchange Commission in the company's 2014 Annual Report on Form 10-K. In the opinion of the company, the information furnished herein reflects all known accruals and adjustments necessary for a fair statement of the results for the periods reported herein. All such adjustments are of a normal recurring nature. The company's exploration and production activities are accounted for under the "successful efforts" method.
	The results for the three months ended March 31, 2015, are not necessarily indicative of the operations to be expected for the full year.
	All amounts are in Canadian dollars unless otherwise indicated.

Business_segments

Business segments	3 Months Ended
	Mar. 31, 2015
Business segments	2	Business segments
	Three Months to March 31		Upstream						Downstream						Chemical
	millions of dollars		2015			2014			2015			2014			2015		2014
	REVENUES AND OTHER INCOME
	Operating revenues (a)			1,212			2,197			4,669			6,645			289		355
	Intersegment sales			598			1,068			256			430			59		102
	Investment and other income			2			13			30			13			1		1
				1,812			3,278			4,955			7,088			349		458
	EXPENSES
	Exploration			17			21			-			-			-		-
	Purchases of crude oil and products			838			1,405			3,195			5,416			182		319
	Production and manufacturing			950			1,029			356			386			53		61
	Selling and general			-			2			221			210			22		17
	Federal excise tax			-			-			377			370			-		-
	Depreciation and depletion			259			222			52			52			3		3
	Financing costs			3			2			-			-			-		-
	TOTAL EXPENSES			2,067			2,681			4,201			6,434			260		400
	INCOME BEFORE INCOME TAXES			(255	)		597			754			654			89		58
	INCOME TAXES			(66	)		145			189			166			23		15
	NET INCOME			(189	)		452			565			488			66		43
	Cash flows from (used in) operating activities			(251	)		357			514			712			55		3
	CAPEX (b)			890			1,163			125			48			12		2
	Total assets as at March 31			35,655			32,326			5,600			6,043			387		401
	Three Months to March 31		Corporate and Other						Eliminations						Consolidated
	millions of dollars		2015			2014			2015			2014			2015		2014
	REVENUES AND OTHER INCOME
	Operating revenues (a)			-			-			-			-			6,170		9,197
	Intersegment sales			-			-			(913	)		(1,600	)		-		-
	Investment and other income			-			2			-			-			33		29
				-			2			(913	)		(1,600	)		6,203		9,226
	EXPENSES
	Exploration			-			-			-			-			17		21
	Purchases of crude oil and products			-			-			(910	)		(1,598	)		3,305		5,542
	Production and manufacturing			-			-			-			-			1,359		1,476
	Selling and general			24			48			(3	)		(2	)		264		275
	Federal excise tax			-			-			-			-			377		370
	Depreciation and depletion			3			3			-			-			317		280
	Financing costs			-			-			-			-			3		2
	TOTAL EXPENSES			27			51			(913	)		(1,600	)		5,642		7,966
	INCOME BEFORE INCOME TAXES			(27	)		(49	)		-			-			561		1,260
	INCOME TAXES			(6	)		(12	)		-			-			140		314
	NET INCOME			(21	)		(37	)		-			-			421		946
	Cash flows from (used in) operating activities			(37	)		13			-			-			281		1,085
	CAPEX (b)			23			21			-			-			1,050		1,234
	Total assets as at March 31			439			448			(473	)		(473	)		41,608		38,745
	(a)	Included export sales to the United States of $801 million (2014 - $1,426 million). Export sales to the United States were recorded in all operating segments, with the largest effects in the Upstream segment
	(b)	Capital and exploration expenditures (CAPEX) include exploration expenses, additions to property, plant and equipment, additions to capital leases, additional investments and acquisition

Investment_and_other_income

Investment and other income	3 Months Ended
	Mar. 31, 2015
Investment and other income	3	Investment and other income
	Investment and other income included gains and losses on asset sales as follows:
			Three Months
			to March 31
	millions of dollars			2015		2014
	Proceeds from asset sales			25		25
	Book value of assets sold (a)			(1	)	5
	Gain/(loss) on asset sales, before tax			26		20
	Gain/(loss) on asset sales, after tax			23		16
	(a) 2015 includes $3 million associated with the wind up of a capital lease

Employee_retirement_benefits

Employee retirement benefits	3 Months Ended
	Mar. 31, 2015
Employee retirement benefits	4	Employee retirement benefits
	The components of net benefit cost were as follows:
			Three Months
			to March 31
	millions of dollars			2015		2014
	Pension benefits:
	Current service cost			51		38
	Interest cost			77		79
	Expected return on plan assets			(97	)	(91	)
	Amortization of prior service cost			4		6
	Amortization of actuarial loss			50		43
	Net benefit cost			85		75
	Other post-retirement benefits:
	Current service cost			4		3
	Interest cost			6		6
	Amortization of actuarial loss			3		2
	Net benefit cost			13		11

Financing_costs_and_additional

Financing costs and additional notes and loans payable information	3 Months Ended
	Mar. 31, 2015
Financing costs and additional notes and loans payable information	5	Financing costs and additional notes and loans payable information
			Three Months to
			March 31
	millions of dollars		2015			2014
	Debt-related interest			23			21
	Capitalized interest			(23	)		(21	)
	Net interest expense			-			-
	Other interest			3			2
	Total financing costs			3			2
	In the first quarter of 2015, the company extended the maturity date of its existing $500 million 364-day short-term unsecured committed bank credit facility to March 2016. The company has not drawn on the facility.

Longterm_debt

Long-term debt	3 Months Ended
	Mar. 31, 2015
Long-term debt	6	Long-term debt
			As at		As at
			Mar 31		Dec 31
	millions of dollars		2015		2014
	Long-term debt			5,463		4,746
	Capital leases			147		167
	Total long-term debt			5,610		4,913
	In the first quarter of 2015, the company increased its long-term debt by $717 million by drawing on an existing facility with an affiliated company of Exxon Mobil Corporation. The increased debt was used to finance normal operations and capital projects.

Other_longterm_obligations

Other long-term obligations	3 Months Ended
	Mar. 31, 2015
Other long-term obligations	7	Other long-term obligations
			As at		As at
			Mar 31		Dec 31
	millions of dollars		2015		2014
	Employee retirement benefits (a)			1,936		1,739
	Asset retirement obligations and other environmental liabilities (b)			1,330		1,325
	Share-based incentive compensation liabilities			172		154
	Other obligations			346		347
	Total other long-term obligations			3,784		3,565
	(a)	Total recorded employee retirement benefits obligations also included $58 million in current liabilities (2014 - $58 million)
	(b)	Total asset retirement obligations and other environmental liabilities also included $143 million in current liabilities (2014 - $143 million)

Net_income_per_share

Net income per share	3 Months Ended
	Mar. 31, 2015
Net income per share	8	Net income per share
			Three Months
			to March 31
			2015		2014
	Net income per common share - basic
	Net income (millions of dollars)			421		946
	Weighted average number of common shares outstanding (millions of shares)			847.6		847.6
	Net income per common share (dollars)			0.5		1.12
	Net income per common share - diluted
	Net income (millions of dollars)			421		946
	Weighted average number of common shares outstanding (millions of shares)			847.6		847.6
	Effect of share-based awards (millions of shares)			2.9		2.9
	Weighted average number of common shares outstanding,			850.5		850.5
	assuming dilution (millions of shares)
	Net income per common share (dollars)			0.5		1.11

Other_comprehensive_income_inf

Other comprehensive income information	3 Months Ended
	Mar. 31, 2015
Other comprehensive income information	9	Other comprehensive income information
	Changes in accumulated other comprehensive income:
	millions of dollars		2015			2014
	Balance at January 1			(2,059	)		(1,721	)
	Post-retirement benefits liability adjustment:
	Current period change excluding amounts reclassified			(176	)		(38	)
	from accumulated other comprehensive income
	Amounts reclassified from accumulated other comprehensive income			42			38
	Balance at March 31			(2,193	)		(1,721	)
	Amounts reclassified out of accumulated other comprehensive income -
	before-tax income/(expense):
			Three Months to
			31-Mar
	millions of dollars		2015			2014
	Amortization of post-retirement benefits liability adjustment			(57	)		(51	)
	included in net periodic benefit cost (a)
	(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:
			Three Months to
			31-Mar
	millions of dollars		2015			2014
	Post-retirement benefits liability adjustments:
	Post-retirement benefits liability adjustment (excluding amortization)			(61	)		(13	)
	Amortization of post-retirement benefits liability adjustment			15			13
	included in net periodic benefit cost
				(46	)		-

Recently_Issued_Accounting_Sta

Recently Issued Accounting Standards	3 Months Ended
	Mar. 31, 2015
Recently Issued Accounting Standards	10	Recently Issued Accounting Standards
	In May 2014, the Financial Accounting Standards Board issued a new standard, Revenue from Contracts with Customers. The standard establishes a single revenue recognition model for all contracts with customers, eliminates industry specific requirements and expands disclosure requirements. The standard is required to be adopted beginning January 1, 2017. Imperial is evaluating the standard and its effect on the company's financial statements.

Business_segments_Tables

Business segments (Tables)	3 Months Ended
	Mar. 31, 2015
Business Segments
	Three Months to March 31		Upstream						Downstream						Chemical
	millions of dollars		2015			2014			2015			2014			2015		2014
	REVENUES AND OTHER INCOME
	Operating revenues (a)			1,212			2,197			4,669			6,645			289		355
	Intersegment sales			598			1,068			256			430			59		102
	Investment and other income			2			13			30			13			1		1
				1,812			3,278			4,955			7,088			349		458
	EXPENSES
	Exploration			17			21			-			-			-		-
	Purchases of crude oil and products			838			1,405			3,195			5,416			182		319
	Production and manufacturing			950			1,029			356			386			53		61
	Selling and general			-			2			221			210			22		17
	Federal excise tax			-			-			377			370			-		-
	Depreciation and depletion			259			222			52			52			3		3
	Financing costs			3			2			-			-			-		-
	TOTAL EXPENSES			2,067			2,681			4,201			6,434			260		400
	INCOME BEFORE INCOME TAXES			(255	)		597			754			654			89		58
	INCOME TAXES			(66	)		145			189			166			23		15
	NET INCOME			(189	)		452			565			488			66		43
	Cash flows from (used in) operating activities			(251	)		357			514			712			55		3
	CAPEX (b)			890			1,163			125			48			12		2
	Total assets as at March 31			35,655			32,326			5,600			6,043			387		401
	Three Months to March 31		Corporate and Other						Eliminations						Consolidated
	millions of dollars		2015			2014			2015			2014			2015		2014
	REVENUES AND OTHER INCOME
	Operating revenues (a)			-			-			-			-			6,170		9,197
	Intersegment sales			-			-			(913	)		(1,600	)		-		-
	Investment and other income			-			2			-			-			33		29
				-			2			(913	)		(1,600	)		6,203		9,226
	EXPENSES
	Exploration			-			-			-			-			17		21
	Purchases of crude oil and products			-			-			(910	)		(1,598	)		3,305		5,542
	Production and manufacturing			-			-			-			-			1,359		1,476
	Selling and general			24			48			(3	)		(2	)		264		275
	Federal excise tax			-			-			-			-			377		370
	Depreciation and depletion			3			3			-			-			317		280
	Financing costs			-			-			-			-			3		2
	TOTAL EXPENSES			27			51			(913	)		(1,600	)		5,642		7,966
	INCOME BEFORE INCOME TAXES			(27	)		(49	)		-			-			561		1,260
	INCOME TAXES			(6	)		(12	)		-			-			140		314
	NET INCOME			(21	)		(37	)		-			-			421		946
	Cash flows from (used in) operating activities			(37	)		13			-			-			281		1,085
	CAPEX (b)			23			21			-			-			1,050		1,234
	Total assets as at March 31			439			448			(473	)		(473	)		41,608		38,745
	(a)	Included export sales to the United States of $801 million (2014 - $1,426 million). Export sales to the United States were recorded in all operating segments, with the largest effects in the Upstream segment
	(b)	Capital and exploration expenditures (CAPEX) include exploration expenses, additions to property, plant and equipment, additions to capital leases, additional investments and acquisition

Investment_and_other_income_Ta

Investment and other income (Tables)	3 Months Ended
	Mar. 31, 2015
Gains and Losses on Asset Sales	Investment and other income included gains and losses on asset sales as follows:
		Three Months
		to March 31
	millions of dollars		2015		2014
	Proceeds from asset sales		25		25
	Book value of assets sold (a)		(1	)	5
	Gain/(loss) on asset sales, before tax		26		20
	Gain/(loss) on asset sales, after tax		23		16
	(a) 2015 includes $3 million associated with the wind up of a capital lease

Employee_retirement_benefits_T

Employee retirement benefits (Tables)	3 Months Ended
	Mar. 31, 2015
Schedule of Components of Net Benefit Cost	The components of net benefit cost were as follows:
		Three Months
		to March 31
	millions of dollars		2015		2014
	Pension benefits:
	Current service cost		51		38
	Interest cost		77		79
	Expected return on plan assets		(97	)	(91	)
	Amortization of prior service cost		4		6
	Amortization of actuarial loss		50		43
	Net benefit cost		85		75
	Other post-retirement benefits:
	Current service cost		4		3
	Interest cost		6		6
	Amortization of actuarial loss		3		2
	Net benefit cost		13		11

Financing_costs_and_additional1

Financing costs and additional notes and loans payable information (Tables)	3 Months Ended
	Mar. 31, 2015
Schedule Of Financing Costs
		Three Months to
		March 31
	millions of dollars	2015			2014
	Debt-related interest		23			21
	Capitalized interest		(23	)		(21	)
	Net interest expense		-			-
	Other interest		3			2
	Total financing costs		3			2

Longterm_debt_Tables

Long-term debt (Tables)	3 Months Ended
	Mar. 31, 2015
Long-Term Debt
		As at		As at
		Mar 31		Dec 31
	millions of dollars	2015		2014
	Long-term debt		5,463		4,746
	Capital leases		147		167
	Total long-term debt		5,610		4,913

Other_longterm_obligations_Tab

Other long-term obligations (Tables)	3 Months Ended
	Mar. 31, 2015
Other Long-Term Obligations
			As at		As at
			Mar 31		Dec 31
	millions of dollars		2015		2014
	Employee retirement benefits (a)			1,936		1,739
	Asset retirement obligations and other environmental liabilities (b)			1,330		1,325
	Share-based incentive compensation liabilities			172		154
	Other obligations			346		347
	Total other long-term obligations			3,784		3,565
	(a)	Total recorded employee retirement benefits obligations also included $58 million in current liabilities (2014 - $58 million)
	(b)	Total asset retirement obligations and other environmental liabilities also included $143 million in current liabilities (2014 - $143 million)

Net_income_per_share_Tables

Net income per share (Tables)	3 Months Ended
	Mar. 31, 2015
Calculation of Basic and Diluted Earnings Per Share
		Three Months
		to March 31
		2015		2014
	Net income per common share - basic
	Net income (millions of dollars)		421		946
	Weighted average number of common shares outstanding (millions of shares)		847.6		847.6
	Net income per common share (dollars)		0.5		1.12
	Net income per common share - diluted
	Net income (millions of dollars)		421		946
	Weighted average number of common shares outstanding (millions of shares)		847.6		847.6
	Effect of share-based awards (millions of shares)		2.9		2.9
	Weighted average number of common shares outstanding,		850.5		850.5
	assuming dilution (millions of shares)
	Net income per common share (dollars)		0.5		1.11

Other_comprehensive_income_inf1

Other comprehensive income information (Tables)	3 Months Ended
	Mar. 31, 2015
Changes in Accumulated Other Comprehensive Income	Changes in accumulated other comprehensive income:
	millions of dollars	2015			2014
	Balance at January 1		(2,059	)		(1,721	)
	Post-retirement benefits liability adjustment:
	Current period change excluding amounts reclassified		(176	)		(38	)
	from accumulated other comprehensive income
	Amounts reclassified from accumulated other comprehensive income		42			38
	Balance at March 31		(2,193	)		(1,721	)
Amounts Reclassified Out of Accumulated Other Comprehensive Income Before-Tax Income/(Expense)	Amounts reclassified out of accumulated other comprehensive income -
	before-tax income/(expense):
		Three Months to
		31-Mar
	millions of dollars	2015			2014
	Amortization of post-retirement benefits liability adjustment		(57	)		(51	)
	included in net periodic benefit cost (a)
	(a) This accumulated other comprehensive income component is included in the computation of net periodic benefit cost (note 4)
Schedule of Income Tax Expense/(Credit) for Components of Other Comprehensive Income	Income tax expense/(credit) for components of other comprehensive income:
		Three Months to
		31-Mar
	millions of dollars	2015			2014
	Post-retirement benefits liability adjustments:
	Post-retirement benefits liability adjustment (excluding amortization)		(61	)		(13	)
	Amortization of post-retirement benefits liability adjustment		15			13
	included in net periodic benefit cost
			(46	)		-

Business_Segments_Detail

Business Segments (Detail) (CAD)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015		Mar. 31, 2014		Dec. 31, 2014
REVENUES AND OTHER INCOME
Operating revenues	6,170	[1],[2],[3]	9,197	[1],[2],[3]
Investment and other income	33		29
TOTAL REVENUES AND OTHER INCOME	6,203		9,226
EXPENSES
Exploration	17		21
Purchases of crude oil and products	3,305	[4]	5,542	[4]
Production and manufacturing	1,359	[5]	1,476	[5]
Selling and general	264		275
Federal excise tax	377	[1]	370	[1]
Depreciation and depletion	317		280
Financing costs	3		2
TOTAL EXPENSES	5,642		7,966
INCOME BEFORE INCOME TAXES	561		1,260
INCOME TAXES	140		314
NET INCOME	421		946
Cash flows from (used in) operating activities	281		1,085
CAPEX	1,050	[6]	1,234	[6]
Total assets as at March 31	41,608		38,745		40,830
Upstream
REVENUES AND OTHER INCOME
Operating revenues	1,212	[3]	2,197	[3]
Intersegment sales	598		1,068
Investment and other income	2		13
TOTAL OPERATING REVENUES, INTERSEGMENT SALES, INVESTMENT AND OTHER INCOME	1,812		3,278
EXPENSES
Exploration	17		21
Purchases of crude oil and products	838		1,405
Production and manufacturing	950		1,029
Selling and general			2
Depreciation and depletion	259		222
Financing costs	3		2
TOTAL EXPENSES	2,067		2,681
INCOME BEFORE INCOME TAXES	-255		597
INCOME TAXES	-66		145
NET INCOME	-189		452
Cash flows from (used in) operating activities	-251		357
CAPEX	890	[6]	1,163	[6]
Total assets as at March 31	35,655		32,326
Downstream
REVENUES AND OTHER INCOME
Operating revenues	4,669	[3]	6,645	[3]
Intersegment sales	256		430
Investment and other income	30		13
TOTAL OPERATING REVENUES, INTERSEGMENT SALES, INVESTMENT AND OTHER INCOME	4,955		7,088
EXPENSES
Purchases of crude oil and products	3,195		5,416
Production and manufacturing	356		386
Selling and general	221		210
Federal excise tax	377		370
Depreciation and depletion	52		52
TOTAL EXPENSES	4,201		6,434
INCOME BEFORE INCOME TAXES	754		654
INCOME TAXES	189		166
NET INCOME	565		488
Cash flows from (used in) operating activities	514		712
CAPEX	125	[6]	48	[6]
Total assets as at March 31	5,600		6,043
Chemical
REVENUES AND OTHER INCOME
Operating revenues	289	[3]	355	[3]
Intersegment sales	59		102
Investment and other income	1		1
TOTAL OPERATING REVENUES, INTERSEGMENT SALES, INVESTMENT AND OTHER INCOME	349		458
EXPENSES
Purchases of crude oil and products	182		319
Production and manufacturing	53		61
Selling and general	22		17
Depreciation and depletion	3		3
TOTAL EXPENSES	260		400
INCOME BEFORE INCOME TAXES	89		58
INCOME TAXES	23		15
NET INCOME	66		43
Cash flows from (used in) operating activities	55		3
CAPEX	12	[6]	2	[6]
Total assets as at March 31	387		401
Corporate and Other
REVENUES AND OTHER INCOME
Investment and other income			2
TOTAL OPERATING REVENUES, INTERSEGMENT SALES, INVESTMENT AND OTHER INCOME			2
EXPENSES
Selling and general	24		48
Depreciation and depletion	3		3
TOTAL EXPENSES	27		51
INCOME BEFORE INCOME TAXES	-27		-49
INCOME TAXES	-6		-12
NET INCOME	-21		-37
Cash flows from (used in) operating activities	-37		13
CAPEX	23	[6]	21	[6]
Total assets as at March 31	439		448
Consolidation, Eliminations
REVENUES AND OTHER INCOME
Intersegment sales	-913		-1,600
TOTAL OPERATING REVENUES, INTERSEGMENT SALES, INVESTMENT AND OTHER INCOME	-913		-1,600
EXPENSES
Purchases of crude oil and products	-910		-1,598
Selling and general	-3		-2
TOTAL EXPENSES	-913		-1,600
Total assets as at March 31	-473		-473
[1]	Federal excise tax included in operating revenues 377 370
[2]	Amounts from related parties included in operating revenues 638 816
[3]	Included export sales to the United States of $801 million (2014 - $1,426 million). Export sales to the United States were recorded in all operating segments, with the largest effects in the Upstream segment
[4]	Amounts to related parties included in purchases of crude oil and products 686 770
[5]	Amounts to related parties included in production and manufacturing expenses 102 86
[6]	Capital and exploration expenditures (CAPEX) include exploration expenses, additions to property, plant and equipment, additions to capital leases, additional investments and acquisition

Business_Segments_Parenthetica

Business Segments (Parenthetical) (Detail) (CAD)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015		Mar. 31, 2014
Segment Reporting Information [Line Items]
Operating revenues	6,170	[1],[2],[3]	9,197	[1],[2],[3]
United States Exports
Segment Reporting Information [Line Items]
Operating revenues	801		1,426
[1]	Federal excise tax included in operating revenues 377 370
[2]	Amounts from related parties included in operating revenues 638 816
[3]	Included export sales to the United States of $801 million (2014 - $1,426 million). Export sales to the United States were recorded in all operating segments, with the largest effects in the Upstream segment

Gains_and_Losses_on_Asset_Sale

Gains and Losses on Asset Sales (Detail) (CAD)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015		Mar. 31, 2014
Investment And Other Income [Line Items]
Proceeds from asset sales	25		25
Book value of assets sold	-1	[1]	5	[1]
Gain/(loss) on asset sales, before tax	26		20
Gain/(loss) on asset sales, after tax	23		16
[1]	2015 includes $3 million associated with the wind up of a capital lease

Gains_and_Losses_on_Asset_Sale1

Gains and Losses on Asset Sales (Parenthetical) (Detail) (CAD)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015
Investment And Other Income [Line Items]
Wind up of capital lease	3

Components_of_Net_Periodic_Ben

Components of Net Periodic Benefit Cost (Detail) (CAD)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Pension benefits
Defined Benefit Plan Disclosure [Line Items]
Current service cost	51	38
Interest cost	77	79
Expected return on plan assets	-97	-91
Amortization of prior service cost	4	6
Amortization of actuarial loss	50	43
Net benefit cost	85	75
Other post-retirement benefits
Defined Benefit Plan Disclosure [Line Items]
Current service cost	4	3
Interest cost	6	6
Amortization of actuarial loss	3	2
Net benefit cost	13	11

Recovered_Sheet1

Financing Costs and Additional Notes and Loans Payable Information (Detail) (CAD)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Debt-related interest	23	21
Capitalized interest	-23	-21
Net interest expense	0	0
Other interest	3	2
Total financing costs	3	2

Recovered_Sheet2

Financing Costs and Additional Notes and Loans Payable Information - Additional Information (Detail) (Unsecured committed bank credit facility, CAD)	3 Months Ended
	Mar. 31, 2015
Unsecured committed bank credit facility
Financing Activities [Line Items]
Line of Credit maximum borrowing capacity	500,000,000
Debt instrument, maturity date	31-Mar-16
Non-interest bearing, revolving demand loan, outstanding amount	0

Long_Term_Debt_Detail

Long Term Debt (Detail) (CAD)	Mar. 31, 2015		Dec. 31, 2014
In Millions, unless otherwise specified
Debt Instrument [Line Items]
Long-term debt	5,463		4,746
Capital leases	147		167
Total long-term debt	5,610	[1]	4,913	[1]
[1]	Long-term debt included amounts to related parties of $5,463 million (2014 - $4,746 million)

Long_Term_Debt_Additional_Info

Long Term Debt - Additional Information (Detail) (Floating Rate Loan Facility, Exxon Mobil, CAD)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015
Floating Rate Loan Facility | Exxon Mobil
Line of Credit Facility [Line Items]
Proceed from drawing on existing facility	717

Other_LongTerm_Obligations_Det

Other Long-Term Obligations (Detail) (CAD)	Mar. 31, 2015		Dec. 31, 2014
In Millions, unless otherwise specified
Schedule of Other Liabilities [Line Items]
Employee retirement benefits	1,936	[1]	1,739	[1]
Asset retirement obligations and other environmental liabilities	1,330	[2]	1,325	[2]
Share-based incentive compensation liabilities	172		154
Other obligations	346		347
Total other long-term obligations	3,784	[3]	3,565	[3]
[1]	Total recorded employee retirement benefits obligations also included $58 million in current liabilities (2014 - $58 million)
[2]	Total asset retirement obligations and other environmental liabilities also included $143 million in current liabilities (2014 - $143 million)
[3]	Other long-term obligations include amounts to related parties of $105 million (2014 - $96 million)

Other_LongTerm_Obligations_Par

Other Long-Term Obligations (Parenthetical) (Detail) (CAD)	Mar. 31, 2015	Dec. 31, 2014
In Millions, unless otherwise specified
Schedule of Other Liabilities [Line Items]
Employee retirement benefits obligations in current liabilities	58	58
Asset retirement obligations and other environmental liabilities in current liabilities	143	143

Net_Income_Per_Share_Detail

Net Income Per Share (Detail) (CAD)	3 Months Ended
In Millions, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Net income per common share - basic
NET INCOME	421	946
Weighted average number of common shares outstanding (millions of shares)	847.6	847.6
Net income per common share (dollars)	0.5	1.12
Net income per common share - diluted
NET INCOME	421	946
Weighted average number of common shares outstanding (millions of shares)	847.6	847.6
Effect of share-based awards (millions of shares)	2.9	2.9
Weighted average number of common shares outstanding, assuming dilution (millions of shares)	850.5	850.5
Net income per common share (dollars)	0.5	1.11

Changes_in_Accumulated_Other_C

Changes in Accumulated Other Comprehensive Income (Detail) (CAD)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at January 1	-2,059	-1,721
Current period change excluding amounts reclassified from accumulated other comprehensive income	-176	-38
Amounts reclassified from accumulated other comprehensive income	42	38
Balance at March 31	-2,193	-1,721

Amounts_Reclassified_Out_of_Ac

Amounts Reclassified Out of Accumulated Other Comprehensive Income (Detail) (Reclassification Adjustment out of Accumulated Other Comprehensive Income, CAD)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015		Mar. 31, 2014
Reclassification Adjustment out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amortization of post-retirement benefits liability adjustment included in net periodic benefit cost	-57	[1]	-51	[1]
[1]	This accumulated other comprehensive income component is included in the computation of net periodic benefit cost (note 4)

Income_Tax_ExpenseCredit_for_C

Income Tax Expense/(Credit) for Components of Other Comprehensive Income (Detail) (CAD)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Post-retirement benefits liability adjustment (excluding amortization)	-61	-13
Amortization of post-retirement benefits liability adjustment included in net periodic benefit cost	15	13
Total	-46