Imperial Oil Limited (IMO) 10-K 24 Feb 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - CAD	12 Months Ended
	Dec. 31, 2015	Feb. 10, 2016	Jun. 30, 2015
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Trading Symbol	IMO
Entity Registrant Name	IMPERIAL OIL LTD
Entity Central Index Key	49,938
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		847,599,011
Entity Public Float			CAD 12,432,611,661

Consolidated Statement Of Incom

Consolidated Statement Of Income (U.S. GAAP) - CAD CAD in Millions		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues and other income
Operating revenues	[1],[2],[3]	CAD 26,756	CAD 36,231	CAD 32,722
Investment and other income (note 8)		132	735	207
Total revenues and other income		26,888	36,966	32,929
Expenses
Exploration		73	67	123
Purchases of crude oil and products	[4]	15,284	22,479	20,155
Production and manufacturing	[5],[6]	5,434	5,662	5,288
Selling and general		1,117	1,075	1,082
Federal excise tax	[3]	1,568	1,562	1,423
Depreciation and depletion	[5]	1,450	1,096	1,110
Financing costs (note 12)	[7]	39	4	11
Total expenses		24,965	31,945	29,192
Income before income taxes		1,923	5,021	3,737
Income taxes (note 3)	[8],[9]	801	1,236	909
Net income		CAD 1,122	CAD 3,785	CAD 2,828
Per-share information (Canadian dollars)
Net income per common share - basic (note 10)		CAD 1.32	CAD 4.47	CAD 3.34
Net income per common share - diluted (note 10)		1.32	4.45	3.32
Dividends per common share		CAD 0.54	CAD 0.52	CAD 0.49
[1]	Includes export sales to the United States of $4,157 million (2014 - $5,940 million, 2013 - $5,217 million). Export sales to the United States were recorded in all operating segments, with the largest effects in the Upstream segment.
[2]	Operating revenues include amounts from related parties of $3,340 million (2014 - $3,752 million, 2013 - $2,385 million) (note 16).
[3]	Operating revenues include federal excise tax of $1,568 million (2014 - $1,562 million, 2013 - $1,423 million).
[4]	Purchases of crude oil and products include amounts to related parties of $3,383 million (2014 - $3,950 million, 2013 - $4,104 million), (note 16).
[5]	A 2013 charge in the Downstream segment of $377 million ($280 million, after-tax) associated with the company's decision to convert the Dartmouth refinery to a terminal included the write-down of refinery plant and equipment not included in the terminal conversion of $245 million, reported as part of depreciation and depletion expenses, and decommissioning, environmental and employee-related costs of $132 million, reported as part of production and manufacturing expenses. By the end of 2015, amounts incurred associated with decommissioning, environmental and employee-related costs totaled $98 million (2014 - $90 million).
[6]	Production and manufacturing expenses include amounts to related parties of $442 million (2014 - $366 million, 2013 - $319 million), (note 16).
[7]	Cash interest payments in 2015 were $74 million (2014 - $82 million, 2013 - $69 million). The weighted average interest rate on short-term borrowings in 2015 was 0.8 percent (2014 - 1.1 percent).
[8]	Cash outflow from income taxes, plus investment credits earned, was $202 million in 2015 (2014 - $811 million, 2013 - $911 million).
[9]	On June 30, 2015 the Alberta government enacted a 2 percent increase in the provincial tax rate, from 10 percent to 12 percent.

Consolidated Statement Of Inco3

Consolidated Statement Of Income (U.S. GAAP) (Parenthetical) - CAD CAD in Millions		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Federal excise tax included in operating revenues	[1]	CAD 1,568	CAD 1,562	CAD 1,423
Amounts from related parties included in operating revenues		3,340	3,752	2,385
Amounts to related parties included in purchases of crude oil and products		3,383	3,950	4,104
Amounts to related parties included in production and manufacturing expenses		CAD 442	CAD 366	CAD 319
[1]	Operating revenues include federal excise tax of $1,568 million (2014 - $1,562 million, 2013 - $1,423 million).

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income (U.S. GAAP) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Net income	CAD 1,122	CAD 3,785	CAD 2,828
Other comprehensive income, net of income taxes
Post-retirement benefits liability adjustment (excluding amortization)	64	(483)	529
Amortization of post-retirement benefits liability adjustment included in net periodic benefit costs	167	145	205
Total other comprehensive income/(loss)	231	(338)	734
Comprehensive income	CAD 1,353	CAD 3,447	CAD 3,562

Consolidated Balance Sheet (U.S

Consolidated Balance Sheet (U.S. GAAP) - CAD CAD in Millions		Dec. 31, 2015	Dec. 31, 2014
Current Assets
Cash	[1]	CAD 203	CAD 215
Accounts receivable, less estimated doubtful accounts	[2]	1,581	1,539
Inventories of crude oil and products (note 11)		1,190	1,121
Materials, supplies and prepaid expenses		424	380
Deferred income tax assets (note 3)		272	314
Total current assets		3,670	3,569
Long-term receivables, investments and other long-term assets		1,414	1,406
Property, plant and equipment, less accumulated depreciation and depletion (note 2)	[3]	37,799	35,574
Goodwill		224	224
Other intangible assets, net		63	57
Total assets (note 2)		43,170	40,830
Current liabilities
Notes and loans payable (note 12)	[4]	1,952	1,978
Accounts payable and accrued liabilities (note 11)	[2]	2,989	3,969
Income taxes payable		452	34
Total current liabilities		5,393	5,981
Long-term debt (note 14)	[5]	6,564	4,913
Other long-term obligations (note 5)	[6]	3,597	3,565
Deferred income tax liabilities (note 3)		4,191	3,841
Total liabilities		CAD 19,745	CAD 18,300
Commitments and contingent liabilities (note 9)
Shareholders' equity
Common shares at stated value(note 10)	[7]	CAD 1,566	CAD 1,566
Earnings reinvested		23,687	23,023
Accumulated other comprehensive income		(1,828)	(2,059)
Total shareholders' equity		23,425	22,530
Total liabilities and shareholders' equity		CAD 43,170	CAD 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 $129 million (2014 - accounts payable and accrued liabilities included amounts payable to related parties of $174 million), (note 16).
[3]	Includes property, plant and equipment under construction of $3,719 million (2014 - $12,535 million).
[4]	Notes and loans payable includes amounts to related parties of $75 million (2014 - $75 million), (note 16).
[5]	Long-term debt includes amounts to related parties of $5,952 million (2014 - $4,746 million), (note 16).
[6]	Other long-term obligations include amounts to related parties of $146 million (2014 - $96 million), (note 16).
[7]	Number of common shares authorized and outstanding were 1,100 million and 848 million, respectively (2014 - 1,100 million and 848 million, respectively), (note 10).

Consolidated Balance Sheet (U.6

Consolidated Balance Sheet (U.S. GAAP) (Parenthetical) - CAD CAD in Millions	Dec. 31, 2015	Dec. 31, 2014
Amounts receivable (payable) from (to) related parties	CAD 129	CAD (174)
Due to related parties, current	CAD 75	CAD 75
Common shares authorized	1,100,000,000	1,100,000,000
Common shares outstanding	847,599,000	847,599,000
Long-term debt
Due to related parties	CAD 5,952	CAD 4,746
Other long-term obligations
Due to related parties	CAD 146	CAD 96

Consolidated statement of share

Consolidated statement of shareholders' equity (U.S. GAAP) - CAD CAD in Millions	Total	Common shares at stated value (note 10)	Earnings reinvested	Accumulated other comprehensive income
At beginning of year at Dec. 31, 2012		CAD 1,566	CAD 17,266	CAD (2,455)
Net income for the year	CAD 2,828		2,828
Issued under the stock option plan		0
Other comprehensive income	734			734
Share purchases in excess of stated value			0
Share purchases at stated value		0
Dividends			(415)
At end of year at Dec. 31, 2013	19,524	1,566	19,679	(1,721)
Net income for the year	3,785		3,785
Issued under the stock option plan		0
Other comprehensive income	(338)			(338)
Share purchases in excess of stated value			0
Share purchases at stated value		0
Dividends			(441)
At end of year at Dec. 31, 2014	22,530	1,566	23,023	(2,059)
Net income for the year	1,122		1,122
Issued under the stock option plan		0
Other comprehensive income	231			231
Share purchases in excess of stated value			0
Share purchases at stated value		0
Dividends			(458)
At end of year at Dec. 31, 2015	CAD 23,425	CAD 1,566	CAD 23,687	CAD (1,828)

Consolidated Statement of Cash

Consolidated Statement of Cash Flows (U.S. GAAP) - CAD CAD in Millions		12 Months Ended
		Dec. 31, 2015		Dec. 31, 2014		Dec. 31, 2013
Operating activities
Net income		CAD 1,122		CAD 3,785		CAD 2,828
Adjustments for non-cash items:
Depreciation and depletion	[1]	1,450		1,096		1,110
(Gain)/loss on asset sales (note 8)		(97)		(696)	[2]	(150)	[3]
Inventory write-down to current market value (note 11)		59
Deferred income taxes and other		367		1,123		482
Changes in operating assets and liabilities:
Accounts receivable		(42)		545		(74)
Inventories, materials, supplies and prepaid expenses		(172)		(129)		(260)
Income taxes payable		418		(693)		(457)
Accounts payable and accrued liabilities		(1,030)		(549)		191
All other items - net	[4]	92		(77)		(378)
Cash flows from (used in) operating activities		2,167		4,405		3,292
Investing activities
Additions to property, plant and equipment		(2,994)		(5,290)		(6,297)
Acquisition						(1,602)
Additional investments		(32)		(123)
Proceeds from asset sales (note 8)		142		851		160
Repayment of loan from equity company						4
Cash flows from (used in) investing activities		(2,884)		(4,562)		(7,735)
Financing activities
Short-term debt - net		(32)		120		1,371
Long-term debt issued (note 14)		1,206		430		3,276
Reduction in capitalized lease obligations		(20)		(9)		(7)
Dividends paid		(449)		(441)		(407)
Cash flows from (used in) financing activities		705		100		4,233
Increase (decrease) in cash		(12)		(57)		(210)
Cash at beginning of year		215	[5]	272	[5]	482
Cash at end of year	[5]	CAD 203		CAD 215		CAD 272
[1]	A 2013 charge in the Downstream segment of $377 million ($280 million, after-tax) associated with the company's decision to convert the Dartmouth refinery to a terminal included the write-down of refinery plant and equipment not included in the terminal conversion of $245 million, reported as part of depreciation and depletion expenses, and decommissioning, environmental and employee-related costs of $132 million, reported as part of production and manufacturing expenses. By the end of 2015, amounts incurred associated with decommissioning, environmental and employee-related costs totaled $98 million (2014 - $90 million).
[2]	2014 included a gain of $638 million ($478 million, after tax) for the sale of the company's interest in producing conventional assets located in Boundary Lake, Cynthia/West Pembina and Rocky Mountain House.
[3]	2013 included a gain of $85 million ($73 million, after tax) for the sale of non-operating assets.
[4]	Includes contribution to registered pension plans of $225 million (2014 - $362 million, 2013 - $600 million).
[5]	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 Cash9

Consolidated Statement of Cash Flows (U.S. GAAP) (Parenthetical) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Included contribution to registered pension plans	CAD 225	CAD 362	CAD 600
Long-term capital lease obligation	CAD 480

Summary of significant accounti

Summary of significant accounting policies	12 Months Ended
	Dec. 31, 2015
Summary of significant accounting policies	1. Summary of significant accounting policies Principles of consolidation The consolidated financial statements include the accounts of subsidiaries the company controls. Intercompany accounts and transactions are eliminated. Subsidiaries include those companies in which Imperial has both an equity interest and the continuing ability to unilaterally determine strategic, operating, investing and financing policies. Significant subsidiaries included in the consolidated financial statements include Imperial Oil Resources Limited, Imperial Oil Resources Ventures Limited and McColl-Frontenac Petroleum Inc. All of the above companies are wholly owned. The consolidated financial statements also include the company’s share of the undivided interest in certain upstream assets, liabilities, revenues and expenses, including its 25 percent interest in the Syncrude joint venture and its 70.96 percent interest in the Kearl joint venture. Inventories Inventories are recorded at the lower of cost or current market value. The cost of crude oil and products is determined primarily using the last-in, first-out (LIFO) method. LIFO was selected over the alternative first-in, first-out and average cost methods because it provides a better matching of current costs with the revenues generated in the period. Inventory costs include expenditures and other charges, including depreciation, directly or indirectly incurred in bringing the inventory to its existing condition and final storage prior to delivery to a customer. Selling and general expenses are reported as period costs and excluded from inventory costs. Investments The company’s interests in the underlying net assets of affiliates it does not control, but over which it exercises significant influence, are accounted for using the equity method. They are recorded at the original cost of the investment plus Imperial’s share of earnings since the investment was made, less dividends received. Imperial’s share of the after-tax earnings of these investments is included in “investment and other income” in the consolidated statement of income. Other investments are recorded at cost. Dividends from these other investments are included in “investment and other income.” These investments represent interests in non-publicly traded pipeline companies and a rail loading joint venture that facilitate the sale and purchase of liquids in the conduct of company operations. Other parties who also have an equity interest in these investments share in the risks and rewards according to their percentage of ownership. Imperial does not invest in these investments in order to remove liabilities from its balance sheet. Property, plant and equipment Property, plant and equipment are recorded at cost. Investment tax credits and other similar grants are treated as a reduction of the capitalized cost of the asset to which they apply. The company uses the successful-efforts method to account for its exploration and development activities. Under this method, costs are accumulated on a field-by-field basis. Costs incurred to purchase, lease, or otherwise acquire a property (whether unproved or proved) are capitalized when incurred. Exploratory well costs are carried as an asset when the well has found a sufficient quantity of reserves to justify its completion as a producing well and where the company is making sufficient progress assessing the reserves and the economic and operating viability of the project. Exploratory well costs not meeting these criteria are charged to expense. Other exploratory expenditures, including geophysical costs and annual lease rentals are expensed as incurred. Development costs including costs of productive wells and development dryholes are capitalized. Maintenance and repair costs, including planned major maintenance, are expensed as incurred. Improvements that increase or prolong the service life or capacity of an asset are capitalized. Acquisition costs of proved properties are amortized using a unit-of-production method, computed on the basis of total proved oil and gas reserves. Depreciation and depletion for assets associated with producing properties begin at the time when production commences on a regular basis. Depreciation for other assets begins when the asset is in place and ready for its intended use. Assets under construction are not depreciated or depleted. Unit-of-production depreciation is applied to those wells, plant and equipment assets associated with productive depletable properties, and the unit-of-production rates are based on the amount of proved developed reserves of oil and gas. Investments in extraction and upgrading facilities at oil sands mining properties are depreciated on a unit-of-production method based on proved developed reserves. In the event that the unit-of-production method does not result in an equitable allocation of cost over the economic life of an upstream asset, an alternative such as the straight-line method is used. Investments in mining and transportation systems at oil sands mining properties are depreciated on a straight-line basis over a maximum of 15 years. Depreciation of other plant and equipment is calculated using the straight-line method, based on the estimated service life of the asset. In general, refineries are depreciated over 25 years; other major assets, including chemical plants and service stations, are depreciated over 20 years. Production involves open pit mining and lifting the oil and gas to the surface and gathering, treating, field processing and field storage of the oil and gas. The production function normally terminates at the outlet valve on the lease or field production storage tank. Production costs are those incurred to operate and maintain the company’s wells, mines, and related equipment and facilities and are expensed as incurred. They become part of the cost of oil and gas produced. These costs, sometimes referred to as lifting costs, include such items as labour cost to operate the wells, mines, and related equipment; repair and maintenance costs on the wells and equipment; materials, supplies and energy costs required to operate the wells, mines, and related equipment; and administrative expenses related to the production activity. The company performs impairment assessments whenever events or circumstances indicate that the carrying amounts of its long-lived assets (or group of assets) may not be recoverable through future operations or disposition. Assets are grouped at the lowest level for which there are identifiable cash flows that are largely independent of the cash flows of other groups of assets for this assessment. Potential trigger events for impairment evaluation include: ● A significant decrease in the market price of a long-lived asset; ● A significant adverse change in the extent or manner in which an asset is being used or in its physical condition including a significant decrease in current and projected reserve volumes; ● A significant adverse change in legal factors or in the business climate that could affect the value, including an adverse action or assessment by a regulator; ● An accumulation of project costs significantly in excess of the amount originally expected; ● A current-period operating loss combined with a history and forecast of operating or cash flow losses; and ● A current expectation that, more likely than not, a long-lived asset will be sold or otherwise disposed of significantly before the end of its previously estimated useful life. The company performs asset valuation analyses on an ongoing basis as a part of its asset management program. These analyses and other profitability reviews assist the company in assessing whether the carrying amounts of any of its assets may not be recoverable. In general, the company does not view temporarily low prices or margins as a trigger event for conducting the impairment tests. The markets for crude oil, natural gas and petroleum products, have a history of significant price volatility. Although prices will occasionally drop significantly, industry prices over the long term will continue to be driven by market supply and demand. On the supply side, industry production from mature fields is declining, but this is being offset by production from new discoveries and field developments. OPEC production policies also have an impact on world oil supplies. The demand side is largely a function of global economic growth. The relative growth/decline in supply versus demand will determine industry prices over the long term, and these cannot be accurately predicted. If there is a trigger event, the company estimates the future undiscounted cash flows of the affected properties to judge the recoverability of carrying amounts. Cash flows used in impairment evaluations are developed using estimates for future crude oil and natural gas commodity prices, refining and chemical margins, and foreign currency exchange rates. Volumes are based on projected field and facility production profiles. These evaluations make use of the company’s price, margin, volume, and cost assumptions developed in the annual planning and budgeting process, and are consistent with the criteria management uses to evaluate investment opportunities. Where probable reserves exist, an appropriately risk-adjusted amount of these reserves may be included in the evaluation. An asset group would be impaired if its undiscounted cash flows were less than the asset’s carrying value. Impairments are measured by the amount by which the carrying value exceeds fair value. Significant unproved properties are assessed for impairment individually, and valuation allowances against the capitalized costs are recorded based on the estimated economic chance of success and the length of time that the company expects to hold the properties. Properties that are not individually significant are aggregated by groups and amortized based on development risk and average holding period. The valuation allowances are reviewed at least annually. Gains on sales of proved and unproved properties are only recognized when there is neither uncertainty about the recovery of costs applicable to any interest retained nor any substantial obligation for future performance by the company. Losses on properties sold are recognized when incurred or when the properties are held for sale and the fair value of the properties is less than the carrying value. Gains or losses on assets sold are included in “investment and other income” in the consolidated statement of income. Interest capitalization Interest costs relating to major capital projects under construction are capitalized as part of property, plant and equipment. The project construction phase commences with the development of the detailed engineering design and ends when the constructed assets are ready for their intended use. Goodwill and other intangible assets Goodwill is not subject to amortization. Goodwill is tested for impairment annually or more frequently if events or circumstances indicate it might be impaired. Impairment losses are recognized in current period earnings. The evaluation for impairment of goodwill is based on a comparison of the carrying values of goodwill and associated operating assets with the estimated present value of net cash flows from those operating assets. Intangible assets with determinable useful lives are amortized over the estimated service lives of the assets. Computer software development costs are amortized over a maximum of 15 years and customer lists are amortized over a maximum of 10 years. The amortization is included in “depreciation and depletion” in the consolidated statement of income. Asset retirement obligations and other environmental liabilities Legal obligations associated with site restoration on the retirement of assets with determinable useful lives are recognized when they are incurred, which is typically at the time the assets are installed. These obligations primarily relate to soil reclamation and remediation and costs of abandonment and demolition of oil and gas wells and related facilities. The company uses estimates, assumptions and judgments regarding such factors as the existence of a legal obligation for an asset retirement obligation, technical assessments of the assets, estimated amounts and timing of settlements, the credit-adjusted risk-free rate to be used, and inflation rates. The obligations are initially measured at fair value and discounted to present value. A corresponding amount equal to that of the initial obligation is added to the capitalized costs of the related asset. Over time, the discounted asset retirement obligation amount will be accreted for the change in its present value, and the initial capitalized costs will be depreciated over the useful lives of the related assets. No asset retirement obligations are set up for those manufacturing, distribution and marketing facilities with an indeterminate useful life. Asset retirement obligations for these facilities generally become firm at the time the facilities are permanently shut down and dismantled. These obligations may include the costs of asset disposal and additional soil remediation. However, these sites have indeterminate lives based on plans for continued operations, and as such, the fair value of the conditional legal obligations cannot be measured, since it is impossible to estimate the future settlement dates of such obligations. Provision for environmental liabilities of these assets is made when it is probable that obligations have been incurred and the amount can be reasonably estimated. Provisions for environmental liabilities are determined based on engineering estimated costs, taking into account the anticipated method and extent of remediation consistent with legal requirements, current technology and the possible use of the location. These liabilities are not discounted. Foreign-currency translation Monetary assets and liabilities in foreign currencies have been translated at the rates of exchange prevailing on December 31. Any exchange gains or losses are recognized in income. Fair value Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. Hierarchy Levels 1, 2 or 3 are terms for the priority of inputs to valuation techniques used to measure fair value. Hierarchy Level 1 inputs are quoted prices in active markets for identical assets or liabilities. Hierarchy Level 2 inputs are inputs other than quoted prices included within Level 1 that are directly or indirectly observable for the asset or liability. Hierarchy Level 3 inputs are inputs that are not observable in the market. Revenues Revenues associated with sales of crude oil, natural gas, petroleum and chemical products and other items are recorded when the products are delivered. Delivery occurs when the customer has taken title and has assumed the risks and rewards of ownership, prices are fixed or determinable and collectability is reasonably assured. The company does not enter into ongoing arrangements whereby it is required to repurchase its products, nor does the company provide the customer with a right of return. Revenues include amounts billed to customers for shipping and handling. Shipping and handling costs incurred up to the point of final storage prior to delivery to a customer are included in “purchases of crude oil and products” in the consolidated statement of income. Delivery costs from final storage to customer are recorded as a marketing expense in “selling and general” expenses. Purchases and sales of inventory with the same counterparty that are entered into in contemplation of one another are combined and recorded as exchanges measured at the book value of the item sold. Share-based compensation The company awards share-based compensation to certain employees in the form of restricted stock units. Compensation expense is measured each reporting period based on the company’s current stock price and is recorded as “selling and general” expenses in the consolidated statement of income over the requisite service period of each award. See note 7 to the consolidated financial statements on page 69 for further details. Consumer taxes Taxes levied on the consumer and collected by the company are excluded from the consolidated statement of income. These are primarily provincial taxes on motor fuels, the federal goods and services tax and the federal/provincial harmonized sales tax. Recently issued accounting standards In May 2014, the FASB issued a new standard, Revenue from Contracts with Customers “Operating Revenue” on the Consolidated statement of income includes sales and excise taxes on sales transactions. When the company adopts the standard, revenue will exclude sales-based taxes collected on behalf of third parties. This change in reporting will not impact earnings. Imperial continues to evaluate other areas of the standard and its effect on the company’s financial statements.

Business segments

Business segments	12 Months Ended
	Dec. 31, 2015
Business segments	2. Business segments The company operates its business in Canada. The Upstream, Downstream and Chemical functions best define the operating segments of the business that are reported separately. The factors used to identify these reportable segments are based on the nature of the operations that are undertaken by each segment and the structure of the company’s internal organization. The Upstream segment is organized and operates to explore for and ultimately produce crude oil and its equivalent, and natural gas. The Downstream segment is organized and operates to refine crude oil into petroleum products and to distribute and market these products. The Chemical segment is organized and operates to manufacture and market hydrocarbon-based chemicals and chemical products. The above segmentation has been the long-standing practice of the company and is broadly understood across the petroleum and petrochemical industries. These functions have been defined as the operating segments of the company because they are the segments (a) that engage in business activities from which revenues are earned and expenses are incurred; (b) whose operating results are regularly reviewed by the company’s chief operating decision maker to make decisions about resources to be allocated to each segment and assess its performance; and (c) for which discrete financial information is available. Corporate and Other includes assets and liabilities that do not specifically relate to business segments – primarily cash, capitalized interest costs, short-term borrowings, long-term debt and liabilities associated with incentive compensation and post-retirement benefits liability adjustment. Net income in this segment primarily includes debt-related financing costs, interest income and share-based incentive compensation expenses. Segment accounting policies are the same as those described in the summary of significant accounting policies. Upstream, Downstream and Chemical expenses include amounts allocated from the Corporate and Other segment. The allocation is based on a combination of fee for service, proportional segment expenses and a three-year average of capital expenditures. Transfers of assets between segments are recorded at book amounts. Intersegment sales are made essentially at prevailing market prices. Assets and liabilities that are not identifiable by segment are allocated. Upstream Downstream Chemical millions of dollars 2015 2014 2013 2015 2014 2013 2015 2014 2013 Revenues and other income Operating revenues (a) 5,776 8,408 6,016 19,796 26,400 25,450 1,184 1,423 1,256 Intersegment sales 2,486 4,087 4,026 1,019 1,359 1,978 234 381 318 Investment and other income 22 667 145 104 65 59 - - - 8,284 13,162 10,187 20,919 27,824 27,487 1,418 1,804 1,574 Expenses Exploration 73 67 123 - - - - - - Purchases of crude oil and products 3,768 5,628 3,778 14,526 21,476 21,628 725 1,196 1,065 Production and manufacturing (b) 3,766 3,882 3,389 1,461 1,564 1,695 207 216 210 Selling and general (2 ) 3 5 986 887 886 87 70 66 Federal excise tax - - - 1,568 1,562 1,423 - - - Depreciation and depletion (b) 1,193 857 636 233 216 452 11 12 12 Financing costs (note 12) 5 4 9 - - 2 - - - Total expenses 8,803 10,441 7,940 18,774 25,705 26,086 1,030 1,494 1,353 Income before income taxes (519 ) 2,721 2,247 2,145 2,119 1,401 388 310 221 Income taxes Current (77 ) (219 ) (14 ) 476 296 395 97 76 62 Deferred 262 881 549 83 229 (46 ) 4 5 (3 ) Total income tax expense 185 662 535 559 525 349 101 81 59 Net income (704 ) 2,059 1,712 1,586 1,594 1,052 287 229 162 Cash flows from (used in) operating activities 224 2,519 1,690 1,686 1,666 1,453 383 250 198 Capital and exploration expenditures 3,135 4,974 7,755 340 572 187 52 26 9 Property, plant and equipment Cost 45,171 42,142 38,819 7,596 7,460 7,146 857 798 771 Accumulated depreciation and depletion (11,016 ) (10,103 ) (10,749 ) (4,584 ) (4,459 ) (4,347 ) (616 ) (601 ) (586 ) Net property, plant and equipment 34,155 32,039 28,070 3,012 3,001 2,799 241 197 185 Total assets 36,971 34,421 30,553 5,574 5,823 5,732 394 372 397 Corporate and Other Eliminations Consolidated millions of dollars 2015 2014 2013 2015 2014 2013 2015 2014 2013 Revenues and other income Operating revenues (a) - - - - - - 26,756 36,231 32,722 Intersegment sales - - - (3,739 ) (5,827 ) (6,322 ) - - - Investment and other income 6 3 3 - - - 132 735 207 6 3 3 (3,739 ) (5,827 ) (6,322 ) 26,888 36,966 32,929 Expenses Exploration - - - - - - 73 67 123 Purchases of crude oil and products - - - (3,735 ) (5,821 ) (6,316 ) 15,284 22,479 20,155 Production and manufacturing (b) - - - - - (6 ) 5,434 5,662 5,288 Selling and general 50 121 125 (4 ) (6 ) - 1,117 1,075 1,082 Federal excise tax - - - - - - 1,568 1,562 1,423 Depreciation and depletion (b) 13 11 10 - - - 1,450 1,096 1,110 Financing costs (note 12) 34 - - - - - 39 4 11 Total expenses 97 132 135 (3,739 ) (5,827 ) (6,322 ) 24,965 31,945 29,192 Income before income taxes (91 ) (129 ) (132 ) - - - 1,923 5,021 3,737 Income taxes Current (45 ) (47 ) (18 ) - - - 451 106 425 Deferred 1 15 (16 ) - - - 350 1,130 484 Total income tax expense (44 ) (32 ) (34 ) - - - 801 1,236 909 Net income (47 ) (97 ) (98 ) - - - 1,122 3,785 2,828 Cash flows from (used in) operating activities (124 ) (30 ) (49 ) (2 ) - - 2,167 4,405 3,292 Capital and exploration expenditures 68 82 69 - - - 3,595 5,654 8,020 Property, plant and equipment Cost 579 511 429 - - - 54,203 50,911 47,165 Accumulated depreciation and depletion (188 ) (174 ) (163 ) - - - (16,404 ) (15,337 ) (15,845 ) Net property, plant and equipment 391 337 266 - - - 37,799 35,574 31,320 Total assets 579 565 581 (348 ) (351 ) (45 ) 43,170 40,830 37,218 (a) Includes export sales to the United States of $4,157 million (2014 - $5,940 million, 2013 - $5,217 million). Export sales to the United States were recorded in all operating segments, with the largest effects in the Upstream segment. (b) A 2013 charge in the Downstream segment of $377 million ($280 million, after-tax) associated with the company’s decision to convert the Dartmouth refinery to a terminal included the write-down of refinery plant and equipment not included in the terminal conversion of $245 million, reported as part of depreciation and depletion expenses, and decommissioning, environmental and employee-related costs of $132 million, reported as part of production and manufacturing expenses. By the end of 2015, amounts incurred associated with decommissioning, environmental and employee-related costs totaled $98 million (2014 - $90 million). (c) Capital and exploration expenditures (CAPEX) include exploration expenses, additions to property, plant and equipment, additions to capital leases, additional investments and acquisitions. (d) Includes property, plant and equipment under construction of $3,719 million (2014 - $12,535 million).

Income taxes

Income taxes	12 Months Ended
	Dec. 31, 2015
Income taxes	3. Income taxes millions of dollars 2015 2014 2013 Current income tax expense (a) 451 106 425 Deferred income tax expense (a) (b) 350 1,130 484 Total income tax expense (a) (c) 801 1,236 909 Statutory corporate tax rate (percent) 27.2 25.5 25.4 Increase/(decrease) resulting from: Enacted tax rate change (a) 16.1 - - Other (1.6 ) (0.9 ) (1.1 ) Effective income tax rate 41.7 24.6 24.3 (a) On June 30, 2015 the Alberta government enacted a 2 percent increase in the provincial tax rate, from 10 percent to 12 percent. (b) There were no material net (charges)/credits for the effect of changes in tax laws and rates included in the provisions for deferred income taxes in 2014 and 2013. (c) Cash outflow from income taxes, plus investment credits earned, was $202 million in 2015 (2014 – $811 million, 2013 – $911 million). Deferred income taxes are based on differences between the accounting and tax values of assets and liabilities. These differences in value are re-measured at each year-end using the tax rates and tax laws expected to apply when those differences are realized or settled in the future. Components of deferred income tax liabilities and assets as at December 31 were: millions of dollars 2015 2014 2013 Depreciation and amortization 4,677 3,777 2,949 Successful drilling and land acquisitions 922 827 815 Pension and benefits (396 ) (438 ) (376 ) Asset retirement obligation (406 ) (304 ) (287 ) Capitalized interest 104 82 69 Other (710 ) (103 ) (99 ) Net long-term deferred income tax liabilities 4,191 3,841 3,071 LIFO inventory valuation (112 ) (201 ) (450 ) Other (160 ) (113 ) (109 ) Net current deferred income tax assets (272 ) (314 ) (559 ) Net current deferred income tax liabilities 41 - - Valuation allowance - - - Net deferred income tax liabilities 3,960 3,527 2,512 Unrecognized tax benefits Unrecognized tax benefits reflect the difference between positions taken or expected to be taken on income tax returns and the amounts recognized in the financial statements. The following table summarizes the movement in unrecognized tax benefits: millions of dollars 2015 2014 2013 Balance as at January 1 151 151 143 Additions based on current year’s tax position - 4 10 Additions for prior years’ tax positions 10 - 2 Reductions for prior years’ tax positions (29 ) (4 ) (4 ) Reductions due to lapse of the statute of limitations - - - Balance as at December 31 132 151 151 The unrecognized tax benefit balances shown above are predominately related to tax positions that would reduce the company’s effective tax rate if the positions are favourably resolved. Unfavourable resolution of these tax positions generally would not increase the effective tax rate. The 2015, 2014 and 2013 changes in unrecognized tax benefits did not have a material effect on the company’s net income or cash flow. The company’s tax filings from 2008 to 2015 are subject to examination by the tax authorities. The Canada Revenue Agency has proposed certain adjustments to the company’s filings. Management is currently evaluating those proposed adjustments and believes that a number of outstanding matters are expected to be resolved in 2016. The impact on unrecognized tax benefits and the company’s effective income tax rate from these matters is not expected to be material. Resolution of the related tax positions will take many years to complete. It is difficult to predict the timing of resolution for tax positions, since such timing is not entirely within the control of the company. The company classifies interest on income tax related balances as interest expense or interest income and classifies tax related penalties as operating expense.

Employee retirement benefits

Employee retirement benefits	12 Months Ended
	Dec. 31, 2015
Employee retirement benefits	4. Employee retirement benefits Retirement benefits, which cover almost all retired employees and their surviving spouses, include pension income and certain health care and life insurance benefits. They are met through funded registered retirement plans and through unfunded supplementary benefits that are paid directly to recipients. Pension income benefits consist mainly of company-paid defined benefit plans that are based on years of service and final average earnings. The company shares in the cost of health care and life insurance benefits. The company’s benefit obligations are based on the projected benefit method of valuation that includes employee service to date and present compensation levels as well as a projection of salaries to retirement. The expense and obligations for both funded and unfunded benefits are determined in accordance with accepted actuarial practices and United States generally accepted accounting principles. The process for determining retirement-income expense and related obligations includes making certain long-term assumptions regarding the discount rate, rate of return on plan assets and rate of compensation increases. The obligation and pension expense can vary significantly with changes in the assumptions used to estimate the obligation and the expected return on plan assets. The benefit obligations and plan assets associated with the company’s defined benefit plans are measured on December 31. Pension benefits Other post-retirement benefits 2015 2014 2015 2014 Assumptions used to determine benefit obligations at December 31 (percent) Discount rate 4.00 3.75 4.00 3.75 Long-term rate of compensation increase 4.50 4.50 4.50 4.50 millions of dollars Change in projected benefit obligation Projected benefit obligation at January 1 7,970 6,870 634 503 Current service cost 211 152 15 9 Interest cost 307 322 25 26 Actuarial loss/(gain) 114 1,083 (2 ) 123 Amendments — — — — Benefits paid (a) (455 ) (457 ) (30 ) (27 ) Projected benefit obligation at December 31 8,147 7,970 642 634 Accumulated benefit obligation at December 31 7,506 7,292 The discount rate for calculating year-end post-retirement liabilities is based on the yield for high-quality, long-term Canadian corporate bonds at year-end with an average maturity (or duration) approximately that of the liabilities. The measurement of the accumulated post-retirement benefit obligation assumes a health care cost trend rate of 4.50 percent in 2016 and subsequent years. Pension benefits Other post-retirement benefits millions of dollars 2015 2014 2015 2014 Change in plan assets Fair value at January 1 6,807 5,872 Actual return/(loss) on plan assets 592 923 Company contributions 225 362 Benefits paid (b) (364 ) (350 ) Fair value at December 31 7,260 6,807 Plan assets in excess of/(less than) projected benefit obligation at December 31 Funded plans (300 ) (589 ) Unfunded plans (587 ) (574 ) (642 ) (634 ) Total (c) (887 ) (1,163 ) (642 ) (634 ) (a) Benefit payments for funded and unfunded plans. (b) Benefit payments for funded plans only. (c) Fair value of assets less projected benefit obligation shown above. Funding of registered retirement plans complies with federal and provincial pension regulations, and the company makes contributions to the plans based on an independent actuarial valuation. In accordance with authoritative guidance relating to the accounting for defined pension and other post-retirement benefits plans, the underfunded status of the company’s defined benefit post-retirement plans was recorded as a liability in the balance sheet, and the changes in that funded status in the year in which the changes occurred was recognized through other comprehensive income. Pension benefits Other post-retirement millions of dollars 2015 2014 2015 2014 Amounts recorded in the consolidated balance sheet consist of: Current liabilities (30 ) (29 ) (29 ) (29 ) Other long-term obligations (857 ) (1,134 ) (613 ) (605 ) Total recorded (887 ) (1,163 ) (642 ) (634 ) Amounts recorded in accumulated other comprehensive income consist of: Net actuarial loss/(gain) 2,382 2,666 164 180 Prior service cost 23 39 - - Total recorded in accumulated other comprehensive income, before tax 2,405 2,705 164 180 The company establishes the long-term expected rate of return on plan assets by developing a forward-looking long-term return assumption for each asset class, taking into account factors such as the expected real return for the specific asset class and inflation. A single, long-term rate of return is then calculated as the weighted average of the target asset allocation percentages and the long-term return assumption for each asset class. The 2015 long-term expected return of 5.75 percent used in the calculations of pension expense compares to an actual rate of return of 6.60 percent and 8.30 percent over the last 10- and 20-year periods ending December 31, 2015. Pension benefits Other post-retirement benefits 2015 2014 2013 2015 2014 2013 Assumptions used to determine net periodic benefit cost for years ended December 31 (percent) Discount rate 3.75 4.75 3.75 3.75 4.75 3.75 Long-term rate of return on funded assets 5.75 6.25 6.25 - - - Long-term rate of compensation increase 4.50 4.50 4.50 4.50 4.50 4.50 millions of dollars Components of net periodic benefit cost Current service cost 211 152 181 15 9 11 Interest cost 307 322 281 25 26 21 Expected return on plan assets (392 ) (369 ) (331 ) - - - Amortization of prior service cost 16 23 23 - - - Amortization of actuarial loss/(gain) 198 166 243 14 7 10 Net periodic benefit cost 340 294 397 54 42 42 Changes in amounts recorded in accumulated other comprehensive income Net actuarial loss/(gain) (86 ) 529 (664 ) (2 ) 123 (50 ) Amortization of net actuarial (loss)/gain included in net periodic benefit cost (198 ) (166 ) (243 ) (14 ) (7 ) (10 ) Amortization of prior service cost included in net periodic benefit cost (16 ) (23 ) (23 ) - - - Total recorded in other comprehensive income (300 ) 340 (930 ) (16 ) 116 (60 ) Total recorded in net periodic benefit cost and other comprehensive income, before tax 40 634 (533 ) 38 158 (18 ) Costs for defined contribution plans, primarily the employee savings plan, were $43 million in 2015 (2014 - $40 million, 2013 - $37 million). A summary of the change in accumulated other comprehensive income is shown in the table below: Total pension and other post-retirement benefits millions of dollars 2015 2014 2013 (Charge)/credit to other comprehensive income, before tax 316 (456 ) 990 Deferred income tax (charge)/credit (note 17) (85 ) 118 (256 ) (Charge)/credit to other comprehensive income, after tax 231 (338 ) 734 The company’s investment strategy for pension plan assets reflects a long-term view, a careful assessment of the risks inherent in various asset classes and broad diversification to reduce the risk of the portfolio. Consistent with the long-term nature of the liability, the plan assets are primarily invested in global, market-cap-weighted indexed equity and domestic indexed bond funds to diversify risk while minimizing costs. The equity funds hold Imperial Oil Limited stock only to the extent necessary to replicate the relevant equity index. The balance of the plan assets is largely invested in high-quality corporate and government debt securities. Studies are periodically conducted to establish the preferred target asset allocation. The target asset allocation for equity securities is 37 percent. The target allocation for debt securities is 58 percent. Plan assets for the remaining 5 percent are invested in venture capital partnerships that pursue a strategy of investment in U.S. and international early stage ventures. The 2015 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, 2015, using: millions of dollars Total Level 1 Level 2 Level 3 Asset class Equity securities Canadian 469 469 (a) Non-Canadian 2,267 2,267 (a) Debt securities - Canadian Corporate 984 984 (b) Government 3,251 3,251 (b) Asset backed 4 4 (b) Equities – Venture capital 272 272 (c) Cash 13 13 Total plan assets at fair value 7,260 13 6,975 272 (a) For company equity securities held in the form of fund units that are redeemable at the measurement date, the unit value is treated as a Level 2 input. The fair value of the securities owned by the funds is based on observable quoted prices on active exchanges, which are Level 1 inputs. (b) For corporate, government and asset-backed debt securities, fair value is based on observable inputs of comparable market transactions. (c) For venture capital partnership investments, fair value is generally established by using revenue or earnings multiples or other relevant market data including initial public offerings. The change in the fair value of Level 3 assets, which use significant unobservable inputs to measure fair value, is shown in the table below: millions of dollars Venture capital Fair value at January 1, 2015 211 Net realized gains/(losses) (34 ) Net unrealized gains/(losses) 95 Net purchases/(sales) - Fair value at December 31, 2015 272 The 2014 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, 2014, using: millions of dollars Total Level 1 Level 2 Level 3 Asset class Equity securities Canadian 460 460 (a) Non-Canadian 2,153 2,153 (a) Debt securities - Canadian Corporate 922 922 (b) Government 3,033 3,033 (b) Asset backed 5 5 (b) Equities – Venture capital 211 211 (c) Cash 23 8 15 (d) Total plan assets at fair value 6,807 8 6,588 211 (a) For company equity securities held in the form of fund units that are redeemable at the measurement date, the unit value is treated as a Level 2 input. The fair value of the securities owned by the funds is based on observable quoted prices on active exchanges, which are Level 1 inputs. (b) For corporate, government and asset-backed debt securities, fair value is based on observable inputs of comparable market transactions. (c) For venture capital partnership investments, fair value is generally established by using revenue or earnings multiples or other relevant market data including initial public offerings. (d) For cash balances that are held in Level 2 funds prior to investment in those fund units, the cash value is treated as a Level 2 input. The change in the fair value of Level 3 assets, which use significant unobservable inputs to measure fair value, is shown in the table below: millions of dollars Mortgage funds Venture capital Fair value at January 1, 2014 1 188 Net realized gains/(losses) - (16) Net unrealized gains/(losses) - 40 Net purchases/(sales) (1 ) (1) Fair value at December 31, 2014 - 211 A summary of pension plans with accumulated benefit obligations in excess of plan assets is shown in the table below: Pension benefits millions of dollars 2015 2014 For funded pension plans with accumulated benefit obligations in excess of plan assets: Projected benefit obligation - - Accumulated benefit obligation - - Fair value of plan assets - - Accumulated benefit obligation less fair value of plan assets - - For unfunded plans covered by book reserves: Projected benefit obligation 587 574 Accumulated benefit obligation 560 542 Estimated 2016 amortization from accumulated other comprehensive income millions of dollars Pension benefits Other post-retirement Net actuarial loss/(gain) (a) 164 11 Prior service cost (b) 9 - (a) The company amortizes the net balance of actuarial loss/(gain) as a component of net periodic benefit cost over the average remaining service period of active plan participants. (b) The company amortizes prior service cost on a straight-line basis. Cash flows Benefit payments expected in: millions of dollars Pension benefits Other post-retirement 2016 405 29 2017 415 30 2018 425 31 2019 435 31 2020 440 32 2021 - 2025 2,225 170 In 2016, the company expects to make cash contributions of about $166 million to its pension plans. Sensitivities A one percent change in the assumptions at which retirement liabilities could be effectively settled is as follows: Increase/(decrease) millions of dollars One percent One percent Rate of return on plan assets: Effect on net benefit cost, before tax (65 ) 65 Discount rate: Effect on net benefit cost, before tax (95 ) 125 Effect on benefit obligation (1,060 ) 1,350 Rate of pay increases: Effect on net benefit cost, before tax 50 (45 ) Effect on benefit obligation 195 (165 ) A one percent change in the assumed health-care cost trend rate would have the following effects: Increase/(decrease) millions of dollars One percent One percent Effect on service and interest cost components 7 (5 ) Effect on benefit obligation 75 (60 )

Other long-term obligations

Other long-term obligations	12 Months Ended
	Dec. 31, 2015
Other long-term obligations	5. Other long-term obligations millions of dollars 2015 2014 Employee retirement benefits (a) (note 4) 1,470 1,739 Asset retirement obligations and other environmental liabilities (b) 1,628 1,325 Share-based incentive compensation liabilities (note 7) 134 154 Other obligations (note 16) 365 347 Total other long-term obligations 3,597 3,565 (a) Total recorded employee retirement benefit obligations also include $59 million in current liabilities (2014 – $58 million). (b) Total asset retirement obligations and other environmental liabilities also include $116 million in current liabilities (2014 – $143 million). Asset retirement obligations incurred in the current period were Level 3 fair value measurements. The following table summarizes the activity in the liability for asset retirement obligations: millions of dollars 2015 2014 Balance as at January 1 1,292 1,237 Additions 250 184 Reductions due to property sales (12) (153 ) Accretion 84 105 Settlement (43) (81 ) Balance as at December 31 1,571 1,292

Derivatives and financial instr

Derivatives and financial instruments	12 Months Ended
	Dec. 31, 2015
Derivatives and financial instruments	6. Derivatives and financial instruments The company did not enter into any derivative instruments to offset exposures associated with hydrocarbon prices, foreign currency exchange rates and interest rates that arose from existing assets, liabilities and transactions in the past three years. The company did not engage in speculative derivative activities or derivative trading activities nor did it use derivatives with leveraged features. The company maintains a system of controls that includes a policy covering the authorization, reporting and monitoring of derivative activity. The fair value of the company’s financial instruments is determined by reference to various market data and other appropriate valuation techniques. There are no material differences between the fair values of the company’s financial instruments and the recorded book value. The fair value hierarchy for long-term debt is primarily Level 2.

Share-based incentive compensat

Share-based incentive compensation programs	12 Months Ended
	Dec. 31, 2015
Share-based incentive compensation programs	7. Share-based incentive compensation programs Share-based incentive compensation programs are designed to retain selected employees, reward them for high performance and promote individual contribution to sustained improvement in the company’s future business performance and shareholder value. Restricted stock units and deferred share units Under the restricted stock unit plan, each unit entitles the recipient to the conditional right to receive from the company, upon exercise, an amount equal to the five-day average of the closing price of the company’s common shares on the Toronto Stock Exchange on and immediately prior to the exercise dates. Fifty percent of the units are exercised three years following the grant date, and the remainder is exercised seven years following the grant date. The company may also issue units where 50 percent of the units are exercisable five years following the grant date and the remainder is exercisable on the later of ten years following the grant date or the retirement date of the recipient. The deferred share unit plan is made available to nonemployee directors. The nonemployee directors can elect to receive all or part of their directors’ fees in units. The number of units granted is determined at the end of each calendar quarter by dividing the dollar amount of the nonemployee director’s fees for that calendar quarter elected to be received as deferred share units by the average closing price of the company’s shares for the five consecutive trading days immediately prior to the last day of the calendar quarter. Additional units are granted based on the cash dividend payable on the company’s shares divided by the average closing price immediately prior to the payment date for that dividend and multiplying the resulting number by the number of deferred share units held by the recipient, as adjusted for any share splits. Deferred share units cannot be exercised until after resignation as a director and must be exercised no later than December 31 of the year following resignation. On the exercise date, the cash value to be received for the units is determined based on the average closing price of the company’s shares for the five consecutive trading days immediately prior to the date of exercise, as adjusted for any share splits. All units require settlement by cash payments with the following exceptions. The restricted stock unit program provides that, for units granted to Canadian residents, the recipient may receive one common share of the company per unit or elect to receive the cash payment for the units to be exercised in the seventh year following the grant date. For units where 50 percent are exercisable five years following the grant date and the remainder exercisable on the later of ten years following the grant date or the retirement date of the recipient, the recipient may receive one common share of the company per unit or elect to receive cash payment for all units to be exercised. The company accounts for all units by using the fair-value-based method. The fair value of awards in the form of restricted stock and deferred share units is the market price of the company’s stock. Under this method, compensation expense related to the units of these programs is measured each reporting period based on the company’s current stock price and is recorded in the consolidated statement of income over the requisite service period of each award. The following table summarizes information about these units for the year ended December 31, 2015: Restricted stock Deferred share units Outstanding at January 1, 2015 8,377,485 107,199 Granted 884,080 14,170 Exercised (1,710,721 ) - Forfeited and cancelled (46,351 ) - Outstanding at December 31, 2015 7,504,493 121,369 In 2015, the compensation expense charged against income for these programs was $35 million (2014 - $90 million, 2013 - $92 million). Income tax benefit recognized in income related to compensation expense for the year was $13 million (2014 - $31 million, 2013 - $33 million). Cash payments of $78 million were made for these programs in 2015 (2014 - $94 million, 2013 - $88 million). As of December 31, 2015, there was $141 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 3.4 years. All units under the deferred share programs have vested as of December 31, 2015.

Investment and other income

Investment and other income	12 Months Ended
	Dec. 31, 2015
Investment and other income	8. Investment and other income Investment and other income includes gains and losses on asset sales as follows: millions of dollars 2015 2014 2013 Proceeds from asset sales 142 851 160 Book value of assets sold 45 155 10 Gain/(loss) on asset sales, before tax (a) (b) 97 696 150 Gain/(loss) on asset sales, after tax (a) (b) 79 526 120 (a) 2014 included a gain of $638 million ($478 million, after tax) for the sale of the company’s interest in producing conventional assets located in Boundary Lake, Cynthia/West Pembina and Rocky Mountain House. (b) 2013 included a gain of $85 million ($73 million, after tax) for the sale of non-operating assets. On February 10, 2016, the company entered into an agreement which will result in the sale and transition of its general aviation business to a branded wholesaler operating model for approximately US$135 million, having an approximate book value of US$16 million. The sale is subject to final closing adjustments, foreign exchange and other closing conditions. The transaction will be subject to a review by Canada’s Competition Bureau and the sale is expected to close late 2016.

Litigation and other contingenc

Litigation and other contingencies	12 Months Ended
	Dec. 31, 2015
Litigation and other contingencies	9. Litigation and other contingencies A variety of claims have been made against Imperial 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 purposes of the company’s contingency disclosures, “significant” includes material matters as well as other matters which management believes should be disclosed. Based on a consideration of all relevant facts and circumstances, the company does not believe the ultimate outcome of any currently pending lawsuits against the company will have a material adverse effect on the company’s operations, financial condition, or financial statements taken as a whole. Additionally, the company has other commitments arising in the normal course of business for operating and capital needs, all of which are expected to be fulfilled with no adverse consequences material to the company’s operations or financial condition. Unconditional purchase obligations, as defined by accounting standards, are those long-term commitments that are non-cancelable or cancelable only under certain conditions and that third parties have used to secure financing for the facilities that will provide the contracted goods and services. Payments due by period millions of dollars 2016 2017 2018 2019 2020 After Total Unconditional purchase obligations (a) 100 87 88 101 106 154 636 (a) Undiscounted obligations of $636 million mainly pertain to pipeline throughput agreements. Total payments under unconditional purchase obligations were $125 million (2014 - $112 million, 2013 - $95 million). The present value of these commitments, excluding imputed interest of $108 million, totaled $528 million.

Common shares

Common shares	12 Months Ended
	Dec. 31, 2015
Common shares	10. Common shares thousands of shares As at Dec. 31 2015 As at Dec. 31 2014 Authorized 1,100,000 1,100,000 From 1995 through 2015 the company purchased shares under twenty 12-month normal course issuer bid share repurchase programs, as well as an auction tender. Cumulative purchases to date under these programs totaled 906,544 thousand shares and $15,708 million. ExxonMobil’s participation in these programs maintained its ownership interest in Imperial at 69.6 percent. On June 22, 2015, another 12-month normal course issuer bid program was implemented with an allowable purchase of up to a maximum of one million shares. The excess of the purchase cost over the stated value of shares purchased has been recorded as a distribution of earnings reinvested. The company’s common share activities are summarized below: Thousands of Millions of Balance as at January 1, 2013 847,599 1,566 Issued under employee share-based awards - - Purchases at stated value - - Balance as at December 31, 2013 847,599 1,566 Issued under employee share-based awards 2 - Purchases at stated value (2 ) - Balance as at December 31, 2014 847,599 1,566 Issued under employee share-based awards 1 - Purchases at stated value (1 ) - Balance as at December 31, 2015 847,599 1,566 The following table provides the calculation of basic and diluted earnings per share: 2015 2014 2013 Net income per common share - basic Net income (millions of dollars) 1,122 3,785 2,828 Weighted average number of common shares outstanding (millions of shares) 847.6 847.6 847.6 Net income per common share (dollars) 1.32 4.47 3.34 Net income per common share - diluted Net income (millions of dollars) 1,122 3,785 2,828 Weighted average number of common shares outstanding (millions of shares) 847.6 847.6 847.6 Effect of employee share-based awards (millions of shares) 3.0 3.0 3.0 Weighted average number of common shares outstanding, assuming dilution (millions of shares) 850.6 850.6 850.6 Net income per common share (dollars) 1.32 4.45 3.32

Miscellaneous financial informa

Miscellaneous financial information	12 Months Ended
	Dec. 31, 2015
Miscellaneous financial information	11. Miscellaneous financial information In 2015, net income included an after-tax loss of $39 million (2014 – $29 million gain, 2013 – $24 million gain) attributable to the effect of changes in last-in, first-out (LIFO) inventories and a non-cash charge of $59 million associated with the carrying value of inventory exceeding the current market value. The replacement cost of inventories was estimated to exceed their LIFO carrying values at December 31, 2015 by $427 million (2014 – $857 million). Inventories of crude oil and products at year-end consisted of the following: millions of dollars 2015 2014 Crude oil 690 650 Petroleum products 443 409 Chemical products 51 53 Natural gas and other 6 9 Total inventories of crude oil and products 1,190 1,121 Net research and development costs charged to expenses in 2015 were $149 million (2014 – $128 million, 2013 – $154 million). These costs are included in expenses due to the uncertainty of future benefits. Accounts payable and accrued liabilities included accrued taxes other than income taxes of $378 million at December 31, 2015 (2014 – $408 million).

Financing costs and additional

Financing costs and additional notes and loans payable information	12 Months Ended
	Dec. 31, 2015
Financing costs and additional notes and loans payable information	12. Financing costs and additional notes and loans payable information millions of dollars 2015 2014 2013 Debt-related interest 102 82 69 Capitalized interest (68 ) (82 ) (69 ) Net interest expense 34 - - Other interest 5 4 11 Total financing costs (a) 39 4 11 (a) Cash interest payments in 2015 were $74 million (2014 – $82 million, 2013 – $69 million). The weighted average interest rate on short-term borrowings in 2015 was 0.8 percent (2014 – 1.1 percent). As at December 31, 2015, the company had borrowed $75 million under an arrangement with an affiliated company of ExxonMobil that provides for a non-interest bearing, revolving demand loan from ExxonMobil to the company of up to $75 million. The loan represents ExxonMobil’s share of a working capital facility required to support purchasing, marketing and transportation arrangements for crude oil and diluent products undertaken by Imperial on behalf of ExxonMobil. 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.

Leased facilities

Leased facilities	12 Months Ended
	Dec. 31, 2015
Leased facilities	13. Leased facilities At December 31, 2015, the company held non-cancelable operating leases covering office buildings, rail cars, service stations and other properties with minimum undiscounted lease commitments totaling $455 million as indicated in the following table: Payments due by period millions of dollars 2016 2017 2018 2019 2020 After Total Lease payments under 185 129 71 29 8 33 455 (a) Net rental cost under cancelable and non-cancelable operating leases incurred in 2015 was $311 million (2014 – $315 million, 2013 – $287 million). Related rental income was not material.

Long-term debt

Long-term debt	12 Months Ended
	Dec. 31, 2015
Long-term debt	14. Long-term debt millions of dollars As at Dec. 31 2015 As at Dec. 31 2014 Long-term debt (a) 5,952 4,746 Capital leases (b) 612 167 Total long-term debt 6,564 4,913 (a) Borrowed under an existing agreement with an affiliated company of ExxonMobil that provides for a long-term, variable-rate loan from ExxonMobil to the company of up to $7.75 billion at interest equivalent to Canadian market rates. The agreement is effective until July 31, 2020, cancelable if ExxonMobil provides at least 370 days advance written notice. Average effective rate for the loan was 1.0 percent in 2015. (b) Capital leases are primarily associated with transportation facilities and services agreements. The average imputed rate was 5.8 percent in 2015 (2014 – 7.0 percent). Total capitalized lease obligations also include $28 million in current liabilities (2014 - $22 million). Principal payments on capital leases of approximately $25 million per year are due in each of the next four years after December 31, 2016. During 2015, the company increased its long-term debt by $1,206 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. In July 2015, the company increased the capacity of its existing floating rate loan facility with an affiliated company of ExxonMobil from $6.25 billion to $7.75 billion. All terms and conditions of the agreement remained unchanged. In 2015, the company entered into a long-term capital lease related to the Woodland pipeline for approximately $480 million. A commitment related to this obligation was previously reported as a firm capital commitment in the company’s 2014 Form 10-K. In the third quarter of 2015, the company extended the maturity date of its existing $500 million long-term bank credit facility to August 2017. The company has not drawn on the facility. Subsequent to December 31, 2015 and up to February 10, 2016, the company increased its total debt by $328 million by drawing on an existing facility. The increased debt was used to supplement normal operations and capital projects.

Accounting for suspended explor

Accounting for suspended exploratory well costs	12 Months Ended
	Dec. 31, 2015
Accounting for suspended exploratory well costs	15. Accounting for suspended exploratory well costs The company continues capitalization of exploratory well costs when the well has found a sufficient quantity of reserves to justify its completion as a producing well and the company is making sufficient progress assessing the reserves and the economic and operating viability of the project. The term “project” as used in this report can refer to a variety of different activities and does not necessarily have the same meaning as in any government payment transparency reports. The following two tables provide details of the changes in the balance of suspended exploratory well costs as well as an aging summary of those costs. Change in capitalized suspended exploratory well costs: millions of dollars 2015 2014 2013 Balance as at January 1 167 173 167 Additions pending the determination of proved reserves - 5 12 Charged to expense - - - Reclassification to wells, facilities and equipment - (11) (6) Balance as at December 31 167 167 173 Period end capitalized suspended exploratory well costs: millions of dollars 2015 2014 2013 Capitalized for a period of one year or less - - 6 Capitalized for a period of between one and five years 167 167 167 Capitalized for a period of greater than one year 167 167 167 Total 167 167 173 Exploration activity often involves drilling multiple wells, over a number of years, to fully evaluate a project. The table below provides a numerical breakdown of the number of projects with suspended exploratory well costs which had their first capitalized well drilled in the preceding 12 months and those that have had exploratory well costs capitalized for a period greater than 12 months. 2015 2014 2013 Number of projects with first capitalized well drilled in the preceding 12 months - - - Number of projects that have exploratory well costs capitalized for a period of greater than 12 months 1 1 1 Total 1 1 1 Exploration activity on the Horn River project with suspended well costs has been completed and further development options are being evaluated.

Transactions with related parti

Transactions with related parties	12 Months Ended
	Dec. 31, 2015
Transactions with related parties	16. Transactions with related parties Revenues and expenses of the company also include the results of transactions with Exxon Mobil Corporation and affiliated companies (ExxonMobil) in the normal course of operations. These were conducted on terms comparable to those which would have been conducted with unrelated parties and primarily consisted of the purchase and sale of crude oil, natural gas, petroleum and chemical products, as well as technical, engineering and research and development costs. Transactions with ExxonMobil also included amounts paid and received in connection with the company’s participation in a number of upstream activities conducted jointly in Canada. In addition, the company has existing agreements with ExxonMobil to: a) provide computer and customer support services to the company and to share common business and operational support services that allow the companies to consolidate duplicate work and systems; b) operate certain western Canada production properties owned by ExxonMobil as well as provide for the delivery of management, business and technical services to ExxonMobil in Canada. These agreements are designed to provide organizational efficiencies and to reduce costs. No separate legal entities were created from these arrangements. Separate books of account continue to be maintained for the company and ExxonMobil. The company and ExxonMobil retain ownership of their respective assets, and there is no impact on operations or reserves; c) provide for the delivery of management, business and technical services to Syncrude Canada Ltd. by ExxonMobil; and d) provide for the option of equal participation in new upstream opportunities. Certain charges from ExxonMobil have been capitalized; they are not material in the aggregate. As at December 31, 2015, the company had outstanding long-term loans of $5,952 million (2014 – $4,746 million) and short-term loans of $75 million (2014 – $75 million) from ExxonMobil (see note 14, long-term debt, on page 74 and note 12, financing costs and additional notes and loans payable information, on page 73 for further details). As at December 31, 2015, the company had outstanding obligations of $187 million (2014 - $123 million) due to a rail loading joint venture, in which the company has a 50% ownership interest, for financing the capital expenditure programs and capital requirements.

Other comprehensive income info

Other comprehensive income information	12 Months Ended
	Dec. 31, 2015
Other comprehensive income information	17. Other comprehensive income information Changes in accumulated other comprehensive income: millions of dollars 2015 2014 2013 Balance as at January 1 (2,059) (1,721) (2,455) Post-retirement benefits liability adjustment: Current period change excluding amounts reclassified from accumulated other comprehensive income 64 (483) 529 Amounts reclassified from accumulated other comprehensive income 167 145 205 Balance as at December 31 (1,828) (2,059) (1,721) Amounts reclassified out of accumulated other comprehensive income – before tax income/(expense) millions of dollars 2015 2014 2013 Amortization of post-retirement benefits liability adjustment included in net periodic benefit cost (a) (228) (196) (276) (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 millions of dollars 2015 2014 2013 Post-retirement benefits adjustments: Post-retirement benefits liability adjustment (excluding amortization) 24 (169) 185 Amortization of post-retirement benefits liability adjustment included in net periodic benefit cost 61 51 71 Total 85 (118) 256

Summary of significant accoun27

Summary of significant accounting policies (Policies)	12 Months Ended
	Dec. 31, 2015
Principles of consolidation	Principles of consolidation The consolidated financial statements include the accounts of subsidiaries the company controls. Intercompany accounts and transactions are eliminated. Subsidiaries include those companies in which Imperial has both an equity interest and the continuing ability to unilaterally determine strategic, operating, investing and financing policies. Significant subsidiaries included in the consolidated financial statements include Imperial Oil Resources Limited, Imperial Oil Resources Ventures Limited and McColl-Frontenac Petroleum Inc. All of the above companies are wholly owned. The consolidated financial statements also include the company’s share of the undivided interest in certain upstream assets, liabilities, revenues and expenses, including its 25 percent interest in the Syncrude joint venture and its 70.96 percent interest in the Kearl joint venture.
Inventories	Inventories Inventories are recorded at the lower of cost or current market value. The cost of crude oil and products is determined primarily using the last-in, first-out (LIFO) method. LIFO was selected over the alternative first-in, first-out and average cost methods because it provides a better matching of current costs with the revenues generated in the period. Inventory costs include expenditures and other charges, including depreciation, directly or indirectly incurred in bringing the inventory to its existing condition and final storage prior to delivery to a customer. Selling and general expenses are reported as period costs and excluded from inventory costs.
Investments	Investments The company’s interests in the underlying net assets of affiliates it does not control, but over which it exercises significant influence, are accounted for using the equity method. They are recorded at the original cost of the investment plus Imperial’s share of earnings since the investment was made, less dividends received. Imperial’s share of the after-tax earnings of these investments is included in “investment and other income” in the consolidated statement of income. Other investments are recorded at cost. Dividends from these other investments are included in “investment and other income.” These investments represent interests in non-publicly traded pipeline companies and a rail loading joint venture that facilitate the sale and purchase of liquids in the conduct of company operations. Other parties who also have an equity interest in these investments share in the risks and rewards according to their percentage of ownership. Imperial does not invest in these investments in order to remove liabilities from its balance sheet.
Property, plant and equipment	Property, plant and equipment Property, plant and equipment are recorded at cost. Investment tax credits and other similar grants are treated as a reduction of the capitalized cost of the asset to which they apply. The company uses the successful-efforts method to account for its exploration and development activities. Under this method, costs are accumulated on a field-by-field basis. Costs incurred to purchase, lease, or otherwise acquire a property (whether unproved or proved) are capitalized when incurred. Exploratory well costs are carried as an asset when the well has found a sufficient quantity of reserves to justify its completion as a producing well and where the company is making sufficient progress assessing the reserves and the economic and operating viability of the project. Exploratory well costs not meeting these criteria are charged to expense. Other exploratory expenditures, including geophysical costs and annual lease rentals are expensed as incurred. Development costs including costs of productive wells and development dryholes are capitalized. Maintenance and repair costs, including planned major maintenance, are expensed as incurred. Improvements that increase or prolong the service life or capacity of an asset are capitalized. Acquisition costs of proved properties are amortized using a unit-of-production method, computed on the basis of total proved oil and gas reserves. Depreciation and depletion for assets associated with producing properties begin at the time when production commences on a regular basis. Depreciation for other assets begins when the asset is in place and ready for its intended use. Assets under construction are not depreciated or depleted. Unit-of-production depreciation is applied to those wells, plant and equipment assets associated with productive depletable properties, and the unit-of-production rates are based on the amount of proved developed reserves of oil and gas. Investments in extraction and upgrading facilities at oil sands mining properties are depreciated on a unit-of-production method based on proved developed reserves. In the event that the unit-of-production method does not result in an equitable allocation of cost over the economic life of an upstream asset, an alternative such as the straight-line method is used. Investments in mining and transportation systems at oil sands mining properties are depreciated on a straight-line basis over a maximum of 15 years. Depreciation of other plant and equipment is calculated using the straight-line method, based on the estimated service life of the asset. In general, refineries are depreciated over 25 years; other major assets, including chemical plants and service stations, are depreciated over 20 years. Production involves open pit mining and lifting the oil and gas to the surface and gathering, treating, field processing and field storage of the oil and gas. The production function normally terminates at the outlet valve on the lease or field production storage tank. Production costs are those incurred to operate and maintain the company’s wells, mines, and related equipment and facilities and are expensed as incurred. They become part of the cost of oil and gas produced. These costs, sometimes referred to as lifting costs, include such items as labour cost to operate the wells, mines, and related equipment; repair and maintenance costs on the wells and equipment; materials, supplies and energy costs required to operate the wells, mines, and related equipment; and administrative expenses related to the production activity. The company performs impairment assessments whenever events or circumstances indicate that the carrying amounts of its long-lived assets (or group of assets) may not be recoverable through future operations or disposition. Assets are grouped at the lowest level for which there are identifiable cash flows that are largely independent of the cash flows of other groups of assets for this assessment. Potential trigger events for impairment evaluation include: ● A significant decrease in the market price of a long-lived asset; ● A significant adverse change in the extent or manner in which an asset is being used or in its physical condition including a significant decrease in current and projected reserve volumes; ● A significant adverse change in legal factors or in the business climate that could affect the value, including an adverse action or assessment by a regulator; ● An accumulation of project costs significantly in excess of the amount originally expected; ● A current-period operating loss combined with a history and forecast of operating or cash flow losses; and ● A current expectation that, more likely than not, a long-lived asset will be sold or otherwise disposed of significantly before the end of its previously estimated useful life. The company performs asset valuation analyses on an ongoing basis as a part of its asset management program. These analyses and other profitability reviews assist the company in assessing whether the carrying amounts of any of its assets may not be recoverable. In general, the company does not view temporarily low prices or margins as a trigger event for conducting the impairment tests. The markets for crude oil, natural gas and petroleum products, have a history of significant price volatility. Although prices will occasionally drop significantly, industry prices over the long term will continue to be driven by market supply and demand. On the supply side, industry production from mature fields is declining, but this is being offset by production from new discoveries and field developments. OPEC production policies also have an impact on world oil supplies. The demand side is largely a function of global economic growth. The relative growth/decline in supply versus demand will determine industry prices over the long term, and these cannot be accurately predicted. If there is a trigger event, the company estimates the future undiscounted cash flows of the affected properties to judge the recoverability of carrying amounts. Cash flows used in impairment evaluations are developed using estimates for future crude oil and natural gas commodity prices, refining and chemical margins, and foreign currency exchange rates. Volumes are based on projected field and facility production profiles. These evaluations make use of the company’s price, margin, volume, and cost assumptions developed in the annual planning and budgeting process, and are consistent with the criteria management uses to evaluate investment opportunities. Where probable reserves exist, an appropriately risk-adjusted amount of these reserves may be included in the evaluation. An asset group would be impaired if its undiscounted cash flows were less than the asset’s carrying value. Impairments are measured by the amount by which the carrying value exceeds fair value. Significant unproved properties are assessed for impairment individually, and valuation allowances against the capitalized costs are recorded based on the estimated economic chance of success and the length of time that the company expects to hold the properties. Properties that are not individually significant are aggregated by groups and amortized based on development risk and average holding period. The valuation allowances are reviewed at least annually. Gains on sales of proved and unproved properties are only recognized when there is neither uncertainty about the recovery of costs applicable to any interest retained nor any substantial obligation for future performance by the company. Losses on properties sold are recognized when incurred or when the properties are held for sale and the fair value of the properties is less than the carrying value. Gains or losses on assets sold are included in “investment and other income” in the consolidated statement of income.
Interest capitalization	Interest capitalization Interest costs relating to major capital projects under construction are capitalized as part of property, plant and equipment. The project construction phase commences with the development of the detailed engineering design and ends when the constructed assets are ready for their intended use.
Goodwill and other intangible assets	Goodwill and other intangible assets Goodwill is not subject to amortization. Goodwill is tested for impairment annually or more frequently if events or circumstances indicate it might be impaired. Impairment losses are recognized in current period earnings. The evaluation for impairment of goodwill is based on a comparison of the carrying values of goodwill and associated operating assets with the estimated present value of net cash flows from those operating assets. Intangible assets with determinable useful lives are amortized over the estimated service lives of the assets. Computer software development costs are amortized over a maximum of 15 years and customer lists are amortized over a maximum of 10 years. The amortization is included in “depreciation and depletion” in the consolidated statement of income.
Asset retirement obligations and other environmental liabilities	Asset retirement obligations and other environmental liabilities Legal obligations associated with site restoration on the retirement of assets with determinable useful lives are recognized when they are incurred, which is typically at the time the assets are installed. These obligations primarily relate to soil reclamation and remediation and costs of abandonment and demolition of oil and gas wells and related facilities. The company uses estimates, assumptions and judgments regarding such factors as the existence of a legal obligation for an asset retirement obligation, technical assessments of the assets, estimated amounts and timing of settlements, the credit-adjusted risk-free rate to be used, and inflation rates. The obligations are initially measured at fair value and discounted to present value. A corresponding amount equal to that of the initial obligation is added to the capitalized costs of the related asset. Over time, the discounted asset retirement obligation amount will be accreted for the change in its present value, and the initial capitalized costs will be depreciated over the useful lives of the related assets. No asset retirement obligations are set up for those manufacturing, distribution and marketing facilities with an indeterminate useful life. Asset retirement obligations for these facilities generally become firm at the time the facilities are permanently shut down and dismantled. These obligations may include the costs of asset disposal and additional soil remediation. However, these sites have indeterminate lives based on plans for continued operations, and as such, the fair value of the conditional legal obligations cannot be measured, since it is impossible to estimate the future settlement dates of such obligations. Provision for environmental liabilities of these assets is made when it is probable that obligations have been incurred and the amount can be reasonably estimated. Provisions for environmental liabilities are determined based on engineering estimated costs, taking into account the anticipated method and extent of remediation consistent with legal requirements, current technology and the possible use of the location. These liabilities are not discounted.
Foreign-currency translation	Foreign-currency translation Monetary assets and liabilities in foreign currencies have been translated at the rates of exchange prevailing on December 31. Any exchange gains or losses are recognized in income.
Fair value	Fair value Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. Hierarchy Levels 1, 2 or 3 are terms for the priority of inputs to valuation techniques used to measure fair value. Hierarchy Level 1 inputs are quoted prices in active markets for identical assets or liabilities. Hierarchy Level 2 inputs are inputs other than quoted prices included within Level 1 that are directly or indirectly observable for the asset or liability. Hierarchy Level 3 inputs are inputs that are not observable in the market.
Revenues	Revenues Revenues associated with sales of crude oil, natural gas, petroleum and chemical products and other items are recorded when the products are delivered. Delivery occurs when the customer has taken title and has assumed the risks and rewards of ownership, prices are fixed or determinable and collectability is reasonably assured. The company does not enter into ongoing arrangements whereby it is required to repurchase its products, nor does the company provide the customer with a right of return. Revenues include amounts billed to customers for shipping and handling. Shipping and handling costs incurred up to the point of final storage prior to delivery to a customer are included in “purchases of crude oil and products” in the consolidated statement of income. Delivery costs from final storage to customer are recorded as a marketing expense in “selling and general” expenses. Purchases and sales of inventory with the same counterparty that are entered into in contemplation of one another are combined and recorded as exchanges measured at the book value of the item sold.
Share-based compensation	Share-based compensation The company awards share-based compensation to certain employees in the form of restricted stock units. Compensation expense is measured each reporting period based on the company’s current stock price and is recorded as “selling and general” expenses in the consolidated statement of income over the requisite service period of each award. See note 7 to the consolidated financial statements on page 69 for further details.
Consumer taxes	Consumer taxes Taxes levied on the consumer and collected by the company are excluded from the consolidated statement of income. These are primarily provincial taxes on motor fuels, the federal goods and services tax and the federal/provincial harmonized sales tax.
Recently issued accounting standards	Recently issued accounting standards In May 2014, the FASB issued a new standard, Revenue from Contracts with Customers “Operating Revenue” on the Consolidated statement of income includes sales and excise taxes on sales transactions. When the company adopts the standard, revenue will exclude sales-based taxes collected on behalf of third parties. This change in reporting will not impact earnings. Imperial continues to evaluate other areas of the standard and its effect on the company’s financial statements.

Business segments (Tables)

Business segments (Tables)	12 Months Ended
	Dec. 31, 2015
Business Segments	Assets and liabilities that are not identifiable by segment are allocated. Upstream Downstream Chemical millions of dollars 2015 2014 2013 2015 2014 2013 2015 2014 2013 Revenues and other income Operating revenues (a) 5,776 8,408 6,016 19,796 26,400 25,450 1,184 1,423 1,256 Intersegment sales 2,486 4,087 4,026 1,019 1,359 1,978 234 381 318 Investment and other income 22 667 145 104 65 59 - - - 8,284 13,162 10,187 20,919 27,824 27,487 1,418 1,804 1,574 Expenses Exploration 73 67 123 - - - - - - Purchases of crude oil and products 3,768 5,628 3,778 14,526 21,476 21,628 725 1,196 1,065 Production and manufacturing (b) 3,766 3,882 3,389 1,461 1,564 1,695 207 216 210 Selling and general (2 ) 3 5 986 887 886 87 70 66 Federal excise tax - - - 1,568 1,562 1,423 - - - Depreciation and depletion (b) 1,193 857 636 233 216 452 11 12 12 Financing costs (note 12) 5 4 9 - - 2 - - - Total expenses 8,803 10,441 7,940 18,774 25,705 26,086 1,030 1,494 1,353 Income before income taxes (519 ) 2,721 2,247 2,145 2,119 1,401 388 310 221 Income taxes Current (77 ) (219 ) (14 ) 476 296 395 97 76 62 Deferred 262 881 549 83 229 (46 ) 4 5 (3 ) Total income tax expense 185 662 535 559 525 349 101 81 59 Net income (704 ) 2,059 1,712 1,586 1,594 1,052 287 229 162 Cash flows from (used in) operating activities 224 2,519 1,690 1,686 1,666 1,453 383 250 198 Capital and exploration expenditures 3,135 4,974 7,755 340 572 187 52 26 9 Property, plant and equipment Cost 45,171 42,142 38,819 7,596 7,460 7,146 857 798 771 Accumulated depreciation and depletion (11,016 ) (10,103 ) (10,749 ) (4,584 ) (4,459 ) (4,347 ) (616 ) (601 ) (586 ) Net property, plant and equipment 34,155 32,039 28,070 3,012 3,001 2,799 241 197 185 Total assets 36,971 34,421 30,553 5,574 5,823 5,732 394 372 397 Corporate and Other Eliminations Consolidated millions of dollars 2015 2014 2013 2015 2014 2013 2015 2014 2013 Revenues and other income Operating revenues (a) - - - - - - 26,756 36,231 32,722 Intersegment sales - - - (3,739 ) (5,827 ) (6,322 ) - - - Investment and other income 6 3 3 - - - 132 735 207 6 3 3 (3,739 ) (5,827 ) (6,322 ) 26,888 36,966 32,929 Expenses Exploration - - - - - - 73 67 123 Purchases of crude oil and products - - - (3,735 ) (5,821 ) (6,316 ) 15,284 22,479 20,155 Production and manufacturing (b) - - - - - (6 ) 5,434 5,662 5,288 Selling and general 50 121 125 (4 ) (6 ) - 1,117 1,075 1,082 Federal excise tax - - - - - - 1,568 1,562 1,423 Depreciation and depletion (b) 13 11 10 - - - 1,450 1,096 1,110 Financing costs (note 12) 34 - - - - - 39 4 11 Total expenses 97 132 135 (3,739 ) (5,827 ) (6,322 ) 24,965 31,945 29,192 Income before income taxes (91 ) (129 ) (132 ) - - - 1,923 5,021 3,737 Income taxes Current (45 ) (47 ) (18 ) - - - 451 106 425 Deferred 1 15 (16 ) - - - 350 1,130 484 Total income tax expense (44 ) (32 ) (34 ) - - - 801 1,236 909 Net income (47 ) (97 ) (98 ) - - - 1,122 3,785 2,828 Cash flows from (used in) operating activities (124 ) (30 ) (49 ) (2 ) - - 2,167 4,405 3,292 Capital and exploration expenditures 68 82 69 - - - 3,595 5,654 8,020 Property, plant and equipment Cost 579 511 429 - - - 54,203 50,911 47,165 Accumulated depreciation and depletion (188 ) (174 ) (163 ) - - - (16,404 ) (15,337 ) (15,845 ) Net property, plant and equipment 391 337 266 - - - 37,799 35,574 31,320 Total assets 579 565 581 (348 ) (351 ) (45 ) 43,170 40,830 37,218 (a) Includes export sales to the United States of $4,157 million (2014 - $5,940 million, 2013 - $5,217 million). Export sales to the United States were recorded in all operating segments, with the largest effects in the Upstream segment. (b) A 2013 charge in the Downstream segment of $377 million ($280 million, after-tax) associated with the company’s decision to convert the Dartmouth refinery to a terminal included the write-down of refinery plant and equipment not included in the terminal conversion of $245 million, reported as part of depreciation and depletion expenses, and decommissioning, environmental and employee-related costs of $132 million, reported as part of production and manufacturing expenses. By the end of 2015, amounts incurred associated with decommissioning, environmental and employee-related costs totaled $98 million (2014 - $90 million). (c) Capital and exploration expenditures (CAPEX) include exploration expenses, additions to property, plant and equipment, additions to capital leases, additional investments and acquisitions. (d) Includes property, plant and equipment under construction of $3,719 million (2014 - $12,535 million).

Income taxes (Tables)

Income taxes (Tables)	12 Months Ended
	Dec. 31, 2015
Summary of Income Tax Expense (Benefit)	millions of dollars 2015 2014 2013 Current income tax expense (a) 451 106 425 Deferred income tax expense (a) (b) 350 1,130 484 Total income tax expense (a) (c) 801 1,236 909 Statutory corporate tax rate (percent) 27.2 25.5 25.4 Increase/(decrease) resulting from: Enacted tax rate change (a) 16.1 - - Other (1.6 ) (0.9 ) (1.1 ) Effective income tax rate 41.7 24.6 24.3 (a) On June 30, 2015 the Alberta government enacted a 2 percent increase in the provincial tax rate, from 10 percent to 12 percent. (b) There were no material net (charges)/credits for the effect of changes in tax laws and rates included in the provisions for deferred income taxes in 2014 and 2013. (c) Cash outflow from income taxes, plus investment credits earned, was $202 million in 2015 (2014 – $811 million, 2013 – $911 million).
Components of Deferred Income Tax Liabilities and Assets	Components of deferred income tax liabilities and assets as at December 31 were: millions of dollars 2015 2014 2013 Depreciation and amortization 4,677 3,777 2,949 Successful drilling and land acquisitions 922 827 815 Pension and benefits (396 ) (438 ) (376 ) Asset retirement obligation (406 ) (304 ) (287 ) Capitalized interest 104 82 69 Other (710 ) (103 ) (99 ) Net long-term deferred income tax liabilities 4,191 3,841 3,071 LIFO inventory valuation (112 ) (201 ) (450 ) Other (160 ) (113 ) (109 ) Net current deferred income tax assets (272 ) (314 ) (559 ) Net current deferred income tax liabilities 41 - - Valuation allowance - - - Net deferred income tax liabilities 3,960 3,527 2,512
Unrecognized Tax Benefits	The following table summarizes the movement in unrecognized tax benefits: millions of dollars 2015 2014 2013 Balance as at January 1 151 151 143 Additions based on current year’s tax position - 4 10 Additions for prior years’ tax positions 10 - 2 Reductions for prior years’ tax positions (29 ) (4 ) (4 ) Reductions due to lapse of the statute of limitations - - - Balance as at December 31 132 151 151

Employee retirement benefits (T

Employee retirement benefits (Tables)	12 Months Ended
	Dec. 31, 2015
Assumptions Used to Determine Benefit Obligations	The benefit obligations and plan assets associated with the company’s defined benefit plans are measured on December 31. Pension benefits Other post-retirement benefits 2015 2014 2015 2014 Assumptions used to determine benefit obligations at December 31 (percent) Discount rate 4.00 3.75 4.00 3.75 Long-term rate of compensation increase 4.50 4.50 4.50 4.50 millions of dollars Change in projected benefit obligation Projected benefit obligation at January 1 7,970 6,870 634 503 Current service cost 211 152 15 9 Interest cost 307 322 25 26 Actuarial loss/(gain) 114 1,083 (2 ) 123 Amendments — — — — Benefits paid (a) (455 ) (457 ) (30 ) (27 ) Projected benefit obligation at December 31 8,147 7,970 642 634 Accumulated benefit obligation at December 31 7,506 7,292
Change in Plan Assets of Pension and Other Postretirement Benefits	Pension benefits Other post-retirement benefits millions of dollars 2015 2014 2015 2014 Change in plan assets Fair value at January 1 6,807 5,872 Actual return/(loss) on plan assets 592 923 Company contributions 225 362 Benefits paid (b) (364 ) (350 ) Fair value at December 31 7,260 6,807 Plan assets in excess of/(less than) projected benefit obligation at December 31 Funded plans (300 ) (589 ) Unfunded plans (587 ) (574 ) (642 ) (634 ) Total (c) (887 ) (1,163 ) (642 ) (634 ) (a) Benefit payments for funded and unfunded plans. (b) Benefit payments for funded plans only. (c) Fair value of assets less projected benefit obligation shown above.
Amounts Recorded in Consolidated Balance Sheet and Accumulated Other Comprehensive Income	Pension benefits Other post-retirement millions of dollars 2015 2014 2015 2014 Amounts recorded in the consolidated balance sheet consist of: Current liabilities (30 ) (29 ) (29 ) (29 ) Other long-term obligations (857 ) (1,134 ) (613 ) (605 ) Total recorded (887 ) (1,163 ) (642 ) (634 ) Amounts recorded in accumulated other comprehensive income consist of: Net actuarial loss/(gain) 2,382 2,666 164 180 Prior service cost 23 39 - - Total recorded in accumulated other comprehensive income, before tax 2,405 2,705 164 180
Assumptions Used to Determine Periodic Benefit Cost	Pension benefits Other post-retirement benefits 2015 2014 2013 2015 2014 2013 Assumptions used to determine net periodic benefit cost for years ended December 31 (percent) Discount rate 3.75 4.75 3.75 3.75 4.75 3.75 Long-term rate of return on funded assets 5.75 6.25 6.25 - - - Long-term rate of compensation increase 4.50 4.50 4.50 4.50 4.50 4.50 millions of dollars Components of net periodic benefit cost Current service cost 211 152 181 15 9 11 Interest cost 307 322 281 25 26 21 Expected return on plan assets (392 ) (369 ) (331 ) - - - Amortization of prior service cost 16 23 23 - - - Amortization of actuarial loss/(gain) 198 166 243 14 7 10 Net periodic benefit cost 340 294 397 54 42 42 Changes in amounts recorded in accumulated other comprehensive income Net actuarial loss/(gain) (86 ) 529 (664 ) (2 ) 123 (50 ) Amortization of net actuarial (loss)/gain included in net periodic benefit cost (198 ) (166 ) (243 ) (14 ) (7 ) (10 ) Amortization of prior service cost included in net periodic benefit cost (16 ) (23 ) (23 ) - - - Total recorded in other comprehensive income (300 ) 340 (930 ) (16 ) 116 (60 ) Total recorded in net periodic benefit cost and other comprehensive income, before tax 40 634 (533 ) 38 158 (18 )
Summary of Change in Accumulated Other Comprehensive Income	A summary of the change in accumulated other comprehensive income is shown in the table below: Total pension and other post-retirement benefits millions of dollars 2015 2014 2013 (Charge)/credit to other comprehensive income, before tax 316 (456 ) 990 Deferred income tax (charge)/credit (note 17) (85 ) 118 (256 ) (Charge)/credit to other comprehensive income, after tax 231 (338 ) 734
Fair Value of Pension Plan Assets Including Level within Fair Value Hierarchy	The 2015 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, 2015, using: millions of dollars Total Level 1 Level 2 Level 3 Asset class Equity securities Canadian 469 469 (a) Non-Canadian 2,267 2,267 (a) Debt securities - Canadian Corporate 984 984 (b) Government 3,251 3,251 (b) Asset backed 4 4 (b) Equities – Venture capital 272 272 (c) Cash 13 13 Total plan assets at fair value 7,260 13 6,975 272 (a) For company equity securities held in the form of fund units that are redeemable at the measurement date, the unit value is treated as a Level 2 input. The fair value of the securities owned by the funds is based on observable quoted prices on active exchanges, which are Level 1 inputs. (b) For corporate, government and asset-backed debt securities, fair value is based on observable inputs of comparable market transactions. (c) For venture capital partnership investments, fair value is generally established by using revenue or earnings multiples or other relevant market data including initial public offerings. The 2014 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, 2014, using: millions of dollars Total Level 1 Level 2 Level 3 Asset class Equity securities Canadian 460 460 (a) Non-Canadian 2,153 2,153 (a) Debt securities - Canadian Corporate 922 922 (b) Government 3,033 3,033 (b) Asset backed 5 5 (b) Equities – Venture capital 211 211 (c) Cash 23 8 15 (d) Total plan assets at fair value 6,807 8 6,588 211 (a) For company equity securities held in the form of fund units that are redeemable at the measurement date, the unit value is treated as a Level 2 input. The fair value of the securities owned by the funds is based on observable quoted prices on active exchanges, which are Level 1 inputs. (b) For corporate, government and asset-backed debt securities, fair value is based on observable inputs of comparable market transactions. (c) For venture capital partnership investments, fair value is generally established by using revenue or earnings multiples or other relevant market data including initial public offerings. (d) For cash balances that are held in Level 2 funds prior to investment in those fund units, the cash value is treated as a Level 2 input.
Change in Fair Value of Level 3 Assets	The change in the fair value of Level 3 assets, which use significant unobservable inputs to measure fair value, is shown in the table below: millions of dollars Venture capital Fair value at January 1, 2015 211 Net realized gains/(losses) (34 ) Net unrealized gains/(losses) 95 Net purchases/(sales) - Fair value at December 31, 2015 272 The change in the fair value of Level 3 assets, which use significant unobservable inputs to measure fair value, is shown in the table below: millions of dollars Mortgage funds Venture capital Fair value at January 1, 2014 1 188 Net realized gains/(losses) - (16) Net unrealized gains/(losses) - 40 Net purchases/(sales) (1 ) (1) Fair value at December 31, 2014 - 211
Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets	A summary of pension plans with accumulated benefit obligations in excess of plan assets is shown in the table below: Pension benefits millions of dollars 2015 2014 For funded pension plans with accumulated benefit obligations in excess of plan assets: Projected benefit obligation - - Accumulated benefit obligation - - Fair value of plan assets - - Accumulated benefit obligation less fair value of plan assets - - For unfunded plans covered by book reserves: Projected benefit obligation 587 574 Accumulated benefit obligation 560 542
Estimated 2016 Amortization from Accumulated Other Comprehensive Income	Estimated 2016 amortization from accumulated other comprehensive income millions of dollars Pension benefits Other post-retirement Net actuarial loss/(gain) (a) 164 11 Prior service cost (b) 9 - (a) The company amortizes the net balance of actuarial loss/(gain) as a component of net periodic benefit cost over the average remaining service period of active plan participants. (b) The company amortizes prior service cost on a straight-line basis.
Benefit Payments Expected	Benefit payments expected in: millions of dollars Pension benefits Other post-retirement 2016 405 29 2017 415 30 2018 425 31 2019 435 31 2020 440 32 2021 - 2025 2,225 170
Effect of One Percent Change in Assumptions at Which Retirement Liabilities Could be Effectively Settled	A one percent change in the assumptions at which retirement liabilities could be effectively settled is as follows: Increase/(decrease) millions of dollars One percent One percent Rate of return on plan assets: Effect on net benefit cost, before tax (65 ) 65 Discount rate: Effect on net benefit cost, before tax (95 ) 125 Effect on benefit obligation (1,060 ) 1,350 Rate of pay increases: Effect on net benefit cost, before tax 50 (45 ) Effect on benefit obligation 195 (165 )
Effect of One Percent Change in Assumed Health-Care Cost Trend Rate	A one percent change in the assumed health-care cost trend rate would have the following effects: Increase/(decrease) millions of dollars One percent One percent Effect on service and interest cost components 7 (5 ) Effect on benefit obligation 75 (60 )

Other long-term obligations (Ta

Other long-term obligations (Tables)	12 Months Ended
	Dec. 31, 2015
Other Long-Term Obligations	millions of dollars 2015 2014 Employee retirement benefits (a) (note 4) 1,470 1,739 Asset retirement obligations and other environmental liabilities (b) 1,628 1,325 Share-based incentive compensation liabilities (note 7) 134 154 Other obligations (note 16) 365 347 Total other long-term obligations 3,597 3,565 (a) Total recorded employee retirement benefit obligations also include $59 million in current liabilities (2014 – $58 million). (b) Total asset retirement obligations and other environmental liabilities also include $116 million in current liabilities (2014 – $143 million).
Schedule of Asset Retirement Obligations	The following table summarizes the activity in the liability for asset retirement obligations: millions of dollars 2015 2014 Balance as at January 1 1,292 1,237 Additions 250 184 Reductions due to property sales (12) (153 ) Accretion 84 105 Settlement (43) (81 ) Balance as at December 31 1,571 1,292

Share-based incentive compens32

Share-based incentive compensation programs (Tables)	12 Months Ended
	Dec. 31, 2015
Summarized Information about Incentive Share, Deferred Share and Restricted Stock Units	The following table summarizes information about these units for the year ended December 31, 2015: Restricted stock Deferred share units Outstanding at January 1, 2015 8,377,485 107,199 Granted 884,080 14,170 Exercised (1,710,721 ) - Forfeited and cancelled (46,351 ) - Outstanding at December 31, 2015 7,504,493 121,369

Investment and other income (Ta

Investment and other income (Tables)	12 Months Ended
	Dec. 31, 2015
Gains and Losses on Asset Sales	Investment and other income includes gains and losses on asset sales as follows: millions of dollars 2015 2014 2013 Proceeds from asset sales 142 851 160 Book value of assets sold 45 155 10 Gain/(loss) on asset sales, before tax (a) (b) 97 696 150 Gain/(loss) on asset sales, after tax (a) (b) 79 526 120 (a) 2014 included a gain of $638 million ($478 million, after tax) for the sale of the company’s interest in producing conventional assets located in Boundary Lake, Cynthia/West Pembina and Rocky Mountain House. (b) 2013 included a gain of $85 million ($73 million, after tax) for the sale of non-operating assets.

Litigation and other continge34

Litigation and other contingencies (Tables)	12 Months Ended
	Dec. 31, 2015
Schedule of Unconditional Purchase Obligations	Payments due by period millions of dollars 2016 2017 2018 2019 2020 After Total Unconditional purchase obligations (a) 100 87 88 101 106 154 636 (a) Undiscounted obligations of $636 million mainly pertain to pipeline throughput agreements. Total payments under unconditional purchase obligations were $125 million (2014 - $112 million, 2013 - $95 million). The present value of these commitments, excluding imputed interest of $108 million, totaled $528 million.

Common shares (Tables)

Common shares (Tables)	12 Months Ended
	Dec. 31, 2015
Summary of Common Shares	thousands of shares As at Dec. 31 2015 As at Dec. 31 2014 Authorized 1,100,000 1,100,000
Common Share Activities	The company’s common share activities are summarized below: Thousands of Millions of Balance as at January 1, 2013 847,599 1,566 Issued under employee share-based awards - - Purchases at stated value - - Balance as at December 31, 2013 847,599 1,566 Issued under employee share-based awards 2 - Purchases at stated value (2 ) - Balance as at December 31, 2014 847,599 1,566 Issued under employee share-based awards 1 - Purchases at stated value (1 ) - Balance as at December 31, 2015 847,599 1,566
Calculation of Basic and Diluted Earnings Per Share	The following table provides the calculation of basic and diluted earnings per share: 2015 2014 2013 Net income per common share - basic Net income (millions of dollars) 1,122 3,785 2,828 Weighted average number of common shares outstanding (millions of shares) 847.6 847.6 847.6 Net income per common share (dollars) 1.32 4.47 3.34 Net income per common share - diluted Net income (millions of dollars) 1,122 3,785 2,828 Weighted average number of common shares outstanding (millions of shares) 847.6 847.6 847.6 Effect of employee share-based awards (millions of shares) 3.0 3.0 3.0 Weighted average number of common shares outstanding, assuming dilution (millions of shares) 850.6 850.6 850.6 Net income per common share (dollars) 1.32 4.45 3.32

Miscellaneous financial infor36

Miscellaneous financial information (Tables)	12 Months Ended
	Dec. 31, 2015
Inventories of Crude Oil and Products	Inventories of crude oil and products at year-end consisted of the following: millions of dollars 2015 2014 Crude oil 690 650 Petroleum products 443 409 Chemical products 51 53 Natural gas and other 6 9 Total inventories of crude oil and products 1,190 1,121

Financing costs and additiona37

Financing costs and additional notes and loans payable information (Tables)	12 Months Ended
	Dec. 31, 2015
Schedule Of Financing Costs	millions of dollars 2015 2014 2013 Debt-related interest 102 82 69 Capitalized interest (68 ) (82 ) (69 ) Net interest expense 34 - - Other interest 5 4 11 Total financing costs (a) 39 4 11 (a) Cash interest payments in 2015 were $74 million (2014 – $82 million, 2013 – $69 million). The weighted average interest rate on short-term borrowings in 2015 was 0.8 percent (2014 – 1.1 percent).

Leased facilities (Tables)

Leased facilities (Tables)	12 Months Ended
	Dec. 31, 2015
Schedule of Operating Leases	At December 31, 2015, the company held non-cancelable operating leases covering office buildings, rail cars, service stations and other properties with minimum undiscounted lease commitments totaling $455 million as indicated in the following table: Payments due by period millions of dollars 2016 2017 2018 2019 2020 After Total Lease payments under 185 129 71 29 8 33 455 (a) Net rental cost under cancelable and non-cancelable operating leases incurred in 2015 was $311 million (2014 – $315 million, 2013 – $287 million). Related rental income was not material.

Long-term debt (Tables)

Long-term debt (Tables)	12 Months Ended
	Dec. 31, 2015
Long-Term Debt	millions of dollars As at Dec. 31 2015 As at Dec. 31 2014 Long-term debt (a) 5,952 4,746 Capital leases (b) 612 167 Total long-term debt 6,564 4,913 (a) Borrowed under an existing agreement with an affiliated company of ExxonMobil that provides for a long-term, variable-rate loan from ExxonMobil to the company of up to $7.75 billion at interest equivalent to Canadian market rates. The agreement is effective until July 31, 2020, cancelable if ExxonMobil provides at least 370 days advance written notice. Average effective rate for the loan was 1.0 percent in 2015. (b) Capital leases are primarily associated with transportation facilities and services agreements. The average imputed rate was 5.8 percent in 2015 (2014 – 7.0 percent). Total capitalized lease obligations also include $28 million in current liabilities (2014 - $22 million). Principal payments on capital leases of approximately $25 million per year are due in each of the next four years after December 31, 2016.

Accounting for suspended expl40

Accounting for suspended exploratory well costs (Tables)	12 Months Ended
	Dec. 31, 2015
Change in capitalized suspended exploratory well costs	Change in capitalized suspended exploratory well costs: millions of dollars 2015 2014 2013 Balance as at January 1 167 173 167 Additions pending the determination of proved reserves - 5 12 Charged to expense - - - Reclassification to wells, facilities and equipment - (11) (6) Balance as at December 31 167 167 173
Schedule of Aging of Capitalized Exploratory Well Costs	Period end capitalized suspended exploratory well costs: millions of dollars 2015 2014 2013 Capitalized for a period of one year or less - - 6 Capitalized for a period of between one and five years 167 167 167 Capitalized for a period of greater than one year 167 167 167 Total 167 167 173
Number of Projects With Suspended Exploratory Well Costs	Exploration activity often involves drilling multiple wells, over a number of years, to fully evaluate a project. The table below provides a numerical breakdown of the number of projects with suspended exploratory well costs which had their first capitalized well drilled in the preceding 12 months and those that have had exploratory well costs capitalized for a period greater than 12 months. 2015 2014 2013 Number of projects with first capitalized well drilled in the preceding 12 months - - - Number of projects that have exploratory well costs capitalized for a period of greater than 12 months 1 1 1 Total 1 1 1

Other comprehensive income in41

Other comprehensive income information (Tables)	12 Months Ended
	Dec. 31, 2015
Changes in accumulated other comprehensive income	Changes in accumulated other comprehensive income: millions of dollars 2015 2014 2013 Balance as at January 1 (2,059) (1,721) (2,455) Post-retirement benefits liability adjustment: Current period change excluding amounts reclassified from accumulated other comprehensive income 64 (483) 529 Amounts reclassified from accumulated other comprehensive income 167 145 205 Balance as at December 31 (1,828) (2,059) (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) millions of dollars 2015 2014 2013 Amortization of post-retirement benefits liability adjustment included in net periodic benefit cost (a) (228) (196) (276) (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 millions of dollars 2015 2014 2013 Post-retirement benefits adjustments: Post-retirement benefits liability adjustment (excluding amortization) 24 (169) 185 Amortization of post-retirement benefits liability adjustment included in net periodic benefit cost 61 51 71 Total 85 (118) 256

Summary of Significant Accoun42

Summary of Significant Accounting Policies - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2015
Significant Accounting Policies [Line Items]
Estimated service life of the asset refineries, in years	25 years
Estimated service life of other major assets, in years	20 years
Amortization of computer software development costs, in years	15 years
Amortization of customer lists, in years	10 years
Maximum
Significant Accounting Policies [Line Items]
Investments in mining and transportation systems at oil sands mining properties, useful life	15 years
Syncrude Joint Venture
Significant Accounting Policies [Line Items]
Undivided interest in oil and gas activities	25.00%
Kearl Joint Venture
Significant Accounting Policies [Line Items]
Undivided interest in oil and gas activities	70.96%

Business Segments (Detail)

Business Segments (Detail) - CAD CAD in Millions		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues and other income
Operating revenues	[1],[2],[3]	CAD 26,756	CAD 36,231	CAD 32,722
Investment and other income		132	735	207
Total revenues and other income		26,888	36,966	32,929
Expenses
Exploration		73	67	123
Purchases of crude oil and products	[4]	15,284	22,479	20,155
Production and manufacturing	[5],[6]	5,434	5,662	5,288
Selling and general		1,117	1,075	1,082
Federal excise tax	[3]	1,568	1,562	1,423
Depreciation and depletion	[5]	1,450	1,096	1,110
Financing costs (note 12)	[7]	39	4	11
Total expenses		24,965	31,945	29,192
Income before income taxes		1,923	5,021	3,737
Income taxes (note 3)
Current	[8]	451	106	425
Deferred	[8],[9]	350	1,130	484
Total income tax expense	[8],[10]	801	1,236	909
Net income		1,122	3,785	2,828
Cash flows from (used in) operating activities		2,167	4,405	3,292
Capital and exploration expenditures	[11]	3,595	5,654	8,020
Property, plant and equipment Cost		54,203	50,911	47,165
Accumulated depreciation and depletion		(16,404)	(15,337)	(15,845)
Net property, plant and equipment	[12]	37,799	35,574	31,320
Total assets		43,170	40,830	37,218
Upstream
Revenues and other income
Operating revenues	[1]	5,776	8,408	6,016
Intersegment sales		2,486	4,087	4,026
Investment and other income		22	667	145
TOTAL OPERATING REVENUES, INTERSEGMENT SALES, INVESTMENT AND OTHER INCOME		8,284	13,162	10,187
Expenses
Exploration		73	67	123
Purchases of crude oil and products		3,768	5,628	3,778
Production and manufacturing	[5]	3,766	3,882	3,389
Selling and general		(2)	3	5
Depreciation and depletion	[5]	1,193	857	636
Financing costs (note 12)		5	4	9
Total expenses		8,803	10,441	7,940
Income before income taxes		(519)	2,721	2,247
Income taxes (note 3)
Current		(77)	(219)	(14)
Deferred		262	881	549
Total income tax expense		185	662	535
Net income		(704)	2,059	1,712
Cash flows from (used in) operating activities		224	2,519	1,690
Capital and exploration expenditures	[11]	3,135	4,974	7,755
Property, plant and equipment Cost		45,171	42,142	38,819
Accumulated depreciation and depletion		(11,016)	(10,103)	(10,749)
Net property, plant and equipment	[12]	34,155	32,039	28,070
Total assets		36,971	34,421	30,553
Downstream
Revenues and other income
Operating revenues	[1]	19,796	26,400	25,450
Intersegment sales		1,019	1,359	1,978
Investment and other income		104	65	59
TOTAL OPERATING REVENUES, INTERSEGMENT SALES, INVESTMENT AND OTHER INCOME		20,919	27,824	27,487
Expenses
Purchases of crude oil and products		14,526	21,476	21,628
Production and manufacturing	[5]	1,461	1,564	1,695
Selling and general		986	887	886
Federal excise tax		1,568	1,562	1,423
Depreciation and depletion	[5]	233	216	452
Financing costs (note 12)				2
Total expenses		18,774	25,705	26,086
Income before income taxes		2,145	2,119	1,401
Income taxes (note 3)
Current		476	296	395
Deferred		83	229	(46)
Total income tax expense		559	525	349
Net income		1,586	1,594	1,052
Cash flows from (used in) operating activities		1,686	1,666	1,453
Capital and exploration expenditures	[11]	340	572	187
Property, plant and equipment Cost		7,596	7,460	7,146
Accumulated depreciation and depletion		(4,584)	(4,459)	(4,347)
Net property, plant and equipment	[12]	3,012	3,001	2,799
Total assets		5,574	5,823	5,732
Chemical
Revenues and other income
Operating revenues	[1]	1,184	1,423	1,256
Intersegment sales		234	381	318
TOTAL OPERATING REVENUES, INTERSEGMENT SALES, INVESTMENT AND OTHER INCOME		1,418	1,804	1,574
Expenses
Purchases of crude oil and products		725	1,196	1,065
Production and manufacturing	[5]	207	216	210
Selling and general		87	70	66
Depreciation and depletion	[5]	11	12	12
Total expenses		1,030	1,494	1,353
Income before income taxes		388	310	221
Income taxes (note 3)
Current		97	76	62
Deferred		4	5	(3)
Total income tax expense		101	81	59
Net income		287	229	162
Cash flows from (used in) operating activities		383	250	198
Capital and exploration expenditures	[11]	52	26	9
Property, plant and equipment Cost		857	798	771
Accumulated depreciation and depletion		(616)	(601)	(586)
Net property, plant and equipment	[12]	241	197	185
Total assets		394	372	397
Corporate and Other
Revenues and other income
Investment and other income		6	3	3
TOTAL OPERATING REVENUES, INTERSEGMENT SALES, INVESTMENT AND OTHER INCOME		6	3	3
Expenses
Selling and general		50	121	125
Depreciation and depletion	[5]	13	11	10
Financing costs (note 12)		34
Total expenses		97	132	135
Income before income taxes		(91)	(129)	(132)
Income taxes (note 3)
Current		(45)	(47)	(18)
Deferred		1	15	(16)
Total income tax expense		(44)	(32)	(34)
Net income		(47)	(97)	(98)
Cash flows from (used in) operating activities		(124)	(30)	(49)
Capital and exploration expenditures	[11]	68	82	69
Property, plant and equipment Cost		579	511	429
Accumulated depreciation and depletion		(188)	(174)	(163)
Net property, plant and equipment	[12]	391	337	266
Total assets		579	565	581
Consolidation, Eliminations
Revenues and other income
Intersegment sales		(3,739)	(5,827)	(6,322)
TOTAL OPERATING REVENUES, INTERSEGMENT SALES, INVESTMENT AND OTHER INCOME		(3,739)	(5,827)	(6,322)
Expenses
Purchases of crude oil and products		(3,735)	(5,821)	(6,316)
Production and manufacturing	[5]			(6)
Selling and general		(4)	(6)
Total expenses		(3,739)	(5,827)	(6,322)
Income taxes (note 3)
Cash flows from (used in) operating activities		(2)
Total assets		CAD (348)	CAD (351)	CAD (45)
[1]	Includes export sales to the United States of $4,157 million (2014 - $5,940 million, 2013 - $5,217 million). Export sales to the United States were recorded in all operating segments, with the largest effects in the Upstream segment.
[2]	Operating revenues include amounts from related parties of $3,340 million (2014 - $3,752 million, 2013 - $2,385 million) (note 16).
[3]	Operating revenues include federal excise tax of $1,568 million (2014 - $1,562 million, 2013 - $1,423 million).
[4]	Purchases of crude oil and products include amounts to related parties of $3,383 million (2014 - $3,950 million, 2013 - $4,104 million), (note 16).
[5]	A 2013 charge in the Downstream segment of $377 million ($280 million, after-tax) associated with the company's decision to convert the Dartmouth refinery to a terminal included the write-down of refinery plant and equipment not included in the terminal conversion of $245 million, reported as part of depreciation and depletion expenses, and decommissioning, environmental and employee-related costs of $132 million, reported as part of production and manufacturing expenses. By the end of 2015, amounts incurred associated with decommissioning, environmental and employee-related costs totaled $98 million (2014 - $90 million).
[6]	Production and manufacturing expenses include amounts to related parties of $442 million (2014 - $366 million, 2013 - $319 million), (note 16).
[7]	Cash interest payments in 2015 were $74 million (2014 - $82 million, 2013 - $69 million). The weighted average interest rate on short-term borrowings in 2015 was 0.8 percent (2014 - 1.1 percent).
[8]	On June 30, 2015 the Alberta government enacted a 2 percent increase in the provincial tax rate, from 10 percent to 12 percent.
[9]	There were no material net (charges)/credits for the effect of changes in tax laws and rates included in the provisions for deferred income taxes in 2014 and 2013.
[10]	Cash outflow from income taxes, plus investment credits earned, was $202 million in 2015 (2014 - $811 million, 2013 - $911 million).
[11]	Capital and exploration expenditures (CAPEX) include exploration expenses, additions to property, plant and equipment, additions to capital leases, additional investments and acquisitions.
[12]	Includes property, plant and equipment under construction of $3,719 million (2014 - $12,535 million).

Business Segments (Parenthetica

Business Segments (Parenthetical) (Detail) - CAD CAD in Millions		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Operating revenues	[1],[2],[3]	CAD 26,756	CAD 36,231	CAD 32,722
Charges related to conversion of refinery to terminal				377
Charges related to conversion of refinery to terminal, after tax				280
Write-down of refinery plant and equipment reported as depreciation and depletion expenses				245
Decommissioning, environmental and employee-related costs reported as production and manufacturing expenses				132
Amount incurred related to decommissioning, environmental and employee related cost		98	90
Property plant and equipment under construction		3,719	12,535
United States Exports
Segment Reporting Information [Line Items]
Operating revenues		CAD 4,157	CAD 5,940	CAD 5,217
[1]	Includes export sales to the United States of $4,157 million (2014 - $5,940 million, 2013 - $5,217 million). Export sales to the United States were recorded in all operating segments, with the largest effects in the Upstream segment.
[2]	Operating revenues include amounts from related parties of $3,340 million (2014 - $3,752 million, 2013 - $2,385 million) (note 16).
[3]	Operating revenues include federal excise tax of $1,568 million (2014 - $1,562 million, 2013 - $1,423 million).

Income Taxes (Detail)

Income Taxes (Detail) - CAD CAD in Millions		Jun. 30, 2015	Dec. 31, 2015		Dec. 31, 2014	Dec. 31, 2013
Schedule Of Income Tax [Line Items]
Current income tax expense	[1]		CAD 451		CAD 106	CAD 425
Deferred income tax expense	[1],[2]		350		1,130	484
Total income tax expense	[1],[3]		CAD 801		CAD 1,236	CAD 909
Statutory corporate tax rate (percent)			27.20%		25.50%	25.40%
Enacted tax rate change		2.00%	16.10%	[1]
Other			(1.60%)		(0.90%)	(1.10%)
Effective income tax rate			41.70%		24.60%	24.30%
[1]	On June 30, 2015 the Alberta government enacted a 2 percent increase in the provincial tax rate, from 10 percent to 12 percent.
[2]	There were no material net (charges)/credits for the effect of changes in tax laws and rates included in the provisions for deferred income taxes in 2014 and 2013.
[3]	Cash outflow from income taxes, plus investment credits earned, was $202 million in 2015 (2014 - $811 million, 2013 - $911 million).

Income Taxes (Parenthetical) (D

Income Taxes (Parenthetical) (Detail) - CAD CAD in Millions	Jun. 30, 2015	Dec. 31, 2015		Dec. 31, 2014	Dec. 31, 2013
Schedule Of Income Tax [Line Items]
Increase in the provincial tax rate	2.00%	16.10%	[1]
Cash outflow from income taxes, plus investment credits earned		CAD 202		CAD 811	CAD 911
Minimum
Schedule Of Income Tax [Line Items]
Provincial tax rate	10.00%
Maximum
Schedule Of Income Tax [Line Items]
Provincial tax rate	12.00%
[1]	On June 30, 2015 the Alberta government enacted a 2 percent increase in the provincial tax rate, from 10 percent to 12 percent.

Components of Deferred Income T

Components of Deferred Income Tax Liabilities and Assets (Detail) - CAD CAD in Millions	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Components Of Deferred Tax Assets And Liabilities [Line Items]
Depreciation and amortization	CAD 4,677	CAD 3,777	CAD 2,949
Successful drilling and land acquisitions	922	827	815
Pension and benefits	(396)	(438)	(376)
Asset retirement obligation	(406)	(304)	(287)
Capitalized interest	104	82	69
Other	(710)	(103)	(99)
Net long-term deferred income tax liabilities	4,191	3,841	3,071
LIFO inventory valuation	(112)	(201)	(450)
Other	(160)	(113)	(109)
Net current deferred income tax assets	(272)	(314)	(559)
Net current deferred income tax liabilities	41
Valuation allowance	0	0	0
Net deferred income tax liabilities	CAD 3,960	CAD 3,527	CAD 2,512

Unrecognized Tax Benefits (Deta

Unrecognized Tax Benefits (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule of Unrecognized Tax Benefits [Line Items]
January 1 balance	CAD 151	CAD 151	CAD 143
Additions based on current year's tax position		4	10
Additions for prior years' tax positions	10		2
Reductions for prior years' tax positions	(29)	(4)	(4)
Reductions due to lapse of the statute of limitations	0	0	0
December 31 balance	CAD 132	CAD 151	CAD 151

Assumptions Used to Determine B

Assumptions Used to Determine Benefit Obligations (Detail)	Dec. 31, 2015	Dec. 31, 2014
Pension benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate	4.00%	3.75%
Long-term rate of compensation increase	4.50%	4.50%
Other post-retirement benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate	4.00%	3.75%
Long-term rate of compensation increase	4.50%	4.50%

Change in Projected Benefit Obl

Change in Projected Benefit Obligation (Detail) - CAD CAD in Millions		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Pension benefits
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation at January 1		CAD 7,970	CAD 6,870
Current service cost		211	152	CAD 181
Interest cost		307	322	281
Actuarial loss/(gain)		114	1,083
Amendments		0	0
Benefits paid	[1]	(455)	(457)
Projected benefit obligation at December 31		8,147	7,970	6,870
Accumulated benefit obligation at December 31		7,506	7,292
Other post-retirement benefits
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation at January 1		634	503
Current service cost		15	9	11
Interest cost		25	26	21
Actuarial loss/(gain)		(2)	123
Amendments		0	0
Benefits paid	[1]	(30)	(27)
Projected benefit obligation at December 31		CAD 642	CAD 634	CAD 503
[1]	Benefit payments for funded and unfunded plans.

Employee Retirement Benefits -

Employee Retirement Benefits - Additional Information (Detail) - CAD CAD in Millions	Feb. 24, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2015	Dec. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Long-term expected return		5.75%
Actual rate of return					6.60%	8.30%
Cost for defined contributions plans		CAD 43	CAD 40	CAD 37
Plan assets invested in venture capital partnerships		5.00%
Cash contributions to pension plans in 2016		CAD 166
Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Target allocation securities		37.00%
Debt Securities
Defined Benefit Plan Disclosure [Line Items]
Target allocation securities		58.00%
Subsequent Event
Defined Benefit Plan Disclosure [Line Items]
Health care cost trend rate assumed in 2015	4.50%

Change in Plan Assets and Plan

Change in Plan Assets and Plan Assets in Excess of Less Than Projected Benefit Obligation (Detail) - CAD CAD in Millions		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014
Defined Benefit Plan Disclosure [Line Items]
Fair value at January 1		CAD 6,807
Fair value at December 31		7,260	CAD 6,807
Pension benefits
Defined Benefit Plan Disclosure [Line Items]
Fair value at January 1		6,807	5,872
Actual return/(loss) on plan assets		592	923
Company contributions		225	362
Benefits paid	[1]	(364)	(350)
Fair value at December 31		7,260	6,807
Funded plans		(300)	(589)
Unfunded plans		(587)	(574)
Total	[2]	(887)	(1,163)
Other post-retirement benefits
Defined Benefit Plan Disclosure [Line Items]
Unfunded plans		(642)	(634)
Total	[2]	CAD (642)	CAD (634)
[1]	Benefit payments for funded plans only.
[2]	Fair value of assets less projected benefit obligation shown above.

Amounts Recorded in Consolidate

Amounts Recorded in Consolidated Balance Sheet and Accumulated Other Comprehensive Income (Detail) - CAD CAD in Millions		Dec. 31, 2015	Dec. 31, 2014
Defined Benefit Plan Disclosure [Line Items]
Current liabilities		CAD (59)	CAD (58)
Other long-term obligations	[1]	(1,470)	(1,739)
Pension benefits
Defined Benefit Plan Disclosure [Line Items]
Current liabilities		(30)	(29)
Other long-term obligations		(857)	(1,134)
Total recorded		(887)	(1,163)
Net actuarial loss/(gain)		2,382	2,666
Prior service cost		23	39
Total recorded in accumulated other comprehensive income, before tax		2,405	2,705
Other post-retirement benefits
Defined Benefit Plan Disclosure [Line Items]
Current liabilities		(29)	(29)
Other long-term obligations		(613)	(605)
Total recorded		(642)	(634)
Net actuarial loss/(gain)		164	180
Total recorded in accumulated other comprehensive income, before tax		CAD 164	CAD 180
[1]	Total recorded employee retirement benefit obligations also include $59 million in current liabilities (2014 - $58 million).

Assumptions Used to Determine P

Assumptions Used to Determine Periodic Benefit Cost (Detail)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Defined Benefit Plan Disclosure [Line Items]
Long-term rate of return on funded assets	5.75%
Pension benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.75%	4.75%	3.75%
Long-term rate of return on funded assets	5.75%	6.25%	6.25%
Long-term rate of compensation increase	4.50%	4.50%	4.50%
Other post-retirement benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.75%	4.75%	3.75%
Long-term rate of compensation increase	4.50%	4.50%	4.50%

Components of Net Periodic Bene

Components of Net Periodic Benefit Cost and Changes in Amounts Recorded in Accumulated Other Comprehensive Income (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Defined Benefit Plan Disclosure [Line Items]
Total recorded in other comprehensive income	CAD (316)	CAD 456	CAD (990)
Pension benefits
Defined Benefit Plan Disclosure [Line Items]
Current service cost	211	152	181
Interest cost	307	322	281
Expected return on plan assets	(392)	(369)	(331)
Amortization of prior service cost	16	23	23
Amortization of actuarial loss/(gain)	198	166	243
Net periodic benefit cost	340	294	397
Net actuarial loss/(gain)	(86)	529	(664)
Amortization of net actuarial (loss)/gain included in net periodic benefit cost	(198)	(166)	(243)
Amortization of prior service cost included in net periodic benefit cost	(16)	(23)	(23)
Total recorded in other comprehensive income	(300)	340	(930)
Total recorded in net periodic benefit cost and other comprehensive income, before tax	40	634	(533)
Other post-retirement benefits
Defined Benefit Plan Disclosure [Line Items]
Current service cost	15	9	11
Interest cost	25	26	21
Amortization of actuarial loss/(gain)	14	7	10
Net periodic benefit cost	54	42	42
Net actuarial loss/(gain)	(2)	123	(50)
Amortization of net actuarial (loss)/gain included in net periodic benefit cost	(14)	(7)	(10)
Total recorded in other comprehensive income	(16)	116	(60)
Total recorded in net periodic benefit cost and other comprehensive income, before tax	CAD 38	CAD 158	CAD (18)

Summary of Change in Accumulate

Summary of Change in Accumulated Other Comprehensive Income (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Defined Benefit Plan Disclosure [Line Items]
(Charge)/credit to other comprehensive income, before tax	CAD 316	CAD (456)	CAD 990
Deferred income tax (charge)/credit (note 17)	(85)	118	(256)
(Charge)/credit to other comprehensive income, after tax	CAD 231	CAD (338)	CAD 734

Fair Value of Pension Plan Asse

Fair Value of Pension Plan Assets Including Level Within Fair Value Hierarchy (Detail) - CAD CAD in Millions		Dec. 31, 2015	Dec. 31, 2014
Defined Benefit Plan Disclosure [Line Items]
Total plan assets at fair value		CAD 7,260	CAD 6,807
Canadian Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Total plan assets at fair value		469	460
Non-Canadian Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Total plan assets at fair value		2,267	2,153
Corporate Debt Securities
Defined Benefit Plan Disclosure [Line Items]
Total plan assets at fair value		984	922
Government Debt Securities
Defined Benefit Plan Disclosure [Line Items]
Total plan assets at fair value		3,251	3,033
Asset Backed Debt Securities
Defined Benefit Plan Disclosure [Line Items]
Total plan assets at fair value		4	5
Equities - Venture Capital
Defined Benefit Plan Disclosure [Line Items]
Total plan assets at fair value		272	211
Cash
Defined Benefit Plan Disclosure [Line Items]
Total plan assets at fair value		13	23
Level 1
Defined Benefit Plan Disclosure [Line Items]
Total plan assets at fair value		13	8
Level 1 | Cash
Defined Benefit Plan Disclosure [Line Items]
Total plan assets at fair value		13	8
Level 2
Defined Benefit Plan Disclosure [Line Items]
Total plan assets at fair value		6,975	6,588
Level 2 | Canadian Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Total plan assets at fair value	[1]	469	460
Level 2 | Non-Canadian Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Total plan assets at fair value	[1]	2,267	2,153
Level 2 | Corporate Debt Securities
Defined Benefit Plan Disclosure [Line Items]
Total plan assets at fair value	[2]	984	922
Level 2 | Government Debt Securities
Defined Benefit Plan Disclosure [Line Items]
Total plan assets at fair value	[2]	3,251	3,033
Level 2 | Asset Backed Debt Securities
Defined Benefit Plan Disclosure [Line Items]
Total plan assets at fair value	[2]	4	5
Level 2 | Cash
Defined Benefit Plan Disclosure [Line Items]
Total plan assets at fair value	[3]		15
(Level 3
Defined Benefit Plan Disclosure [Line Items]
Total plan assets at fair value		272	211
(Level 3 | Equities - Venture Capital
Defined Benefit Plan Disclosure [Line Items]
Total plan assets at fair value	[4]	CAD 272	CAD 211
[1]	For company equity securities held in the form of fund units that are redeemable at the measurement date, the unit value is treated as a Level 2 input. The fair value of the securities owned by the funds is based on observable quoted prices on active exchanges, which are Level 1 inputs.
[2]	For corporate, government and asset-backed debt securities, fair value is based on observable inputs of comparable market transactions.
[3]	For cash balances that are held in Level 2 funds prior to investment in those fund units, the cash value is treated as a Level 2 input.
[4]	For venture capital partnership investments, fair value is generally established by using revenue or earnings multiples or other relevant market data including initial public offerings.

Changes in Fair Value of Level

Changes in Fair Value of Level 3 Assets (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Mortgage Funds
Defined Benefit Plan Disclosure [Line Items]
Fair value at beginning		CAD 1
Net purchases/(sales)		(1)
Venture Capital
Defined Benefit Plan Disclosure [Line Items]
Fair value at beginning	CAD 211	188
Net realized gains/(losses)	(34)	(16)
Net unrealized gains/(losses)	95	40
Net purchases/(sales)		(1)
Fair value at ending	CAD 272	CAD 211

Pension Plan with Accumulated B

Pension Plan with Accumulated Benefit Obligation in Excess of Plan Assets (Detail) - CAD CAD in Millions	Dec. 31, 2015	Dec. 31, 2014
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	CAD 7,260	CAD 6,807
Funded Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Accumulated benefit obligation less fair value of plan assets	0	0
Unfunded Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	587	574
Accumulated benefit obligation	CAD 560	CAD 542

Estimated 2016 Amortization fro

Estimated 2016 Amortization from Accumulated Other Comprehensive Income (Detail) CAD in Millions	12 Months Ended
	Dec. 31, 2015CAD
Pension benefits
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss/(gain)	CAD 164	[1]
Prior service cost	9	[2]
Other post-retirement benefits
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss/(gain)	CAD 11	[1]
[1]	The company amortizes the net balance of actuarial loss/(gain) as a component of net periodic benefit cost over the average remaining service period of active plan participants.
[2]	The company amortizes prior service cost on a straight-line basis.

Expected Benefit Payments (Deta

Expected Benefit Payments (Detail) CAD in Millions	Dec. 31, 2015CAD
Pension benefits
Defined Benefit Plan Disclosure [Line Items]
2,016	CAD 405
2,017	415
2,018	425
2,019	435
2,020	440
2021 - 2025	2,225
Other post-retirement benefits
Defined Benefit Plan Disclosure [Line Items]
2,016	29
2,017	30
2,018	31
2,019	31
2,020	32
2021 - 2025	CAD 170

Effect of One Percent Change in

Effect of One Percent Change in Assumptions at Which Retirement Liabilities Could be Effectively Settled (Detail) CAD in Millions	12 Months Ended
	Dec. 31, 2015CAD
Defined Benefit Plan Disclosure [Line Items]
Effect on net benefit cost, before tax, One percent increase - Rate of return on plan assets	CAD (65)
Effect on net benefit cost, before tax, One percent increase - Discount rate	(95)
Effect on benefit obligation, One percent increase - Discount rate	(1,060)
Effect on net benefit cost, before tax, One percent increase- Rate of pay increases	50
Effect on benefit obligation, One percent increase - Rate of pay increases	195
Effect on net benefit cost, before tax, One percent decrease - Rate of return on plan assets	65
Effect on net benefit cost, before tax, One percent decrease - Discount rate	125
Effect on benefit obligation, One percent decrease - Discount rate	1,350
Effect on net benefit cost, before tax, One percent decrease- Rate of pay increases	(45)
Effect on benefit obligation, One percent decrease - Rate of pay increases	CAD (165)

Effect of One Percent Change 63

Effect of One Percent Change in Assumed Health-Care Cost Trend Rate (Detail) CAD in Millions	12 Months Ended
	Dec. 31, 2015CAD
Defined Benefit Plan Disclosure [Line Items]
Effect on service and interest cost components, One percent increase	CAD 7
Effect on service and interest cost components, One percent decrease	(5)
Effect on benefit obligation, One percent increase	75
Effect on benefit obligation, One percent decrease	CAD (60)

Other Long-Term Obligations (De

Other Long-Term Obligations (Detail) - CAD CAD in Millions		Dec. 31, 2015	Dec. 31, 2014
Schedule of Other Liabilities [Line Items]
Employee retirement benefits	[1]	CAD 1,470	CAD 1,739
Asset retirement obligations and other environmental liabilities	[2]	1,628	1,325
Share-based incentive compensation liabilities		134	154
Other obligations		365	347
Total other long-term obligations	[3]	CAD 3,597	CAD 3,565
[1]	Total recorded employee retirement benefit obligations also include $59 million in current liabilities (2014 - $58 million).
[2]	Total asset retirement obligations and other environmental liabilities also include $116 million in current liabilities (2014 - $143 million).
[3]	Other long-term obligations include amounts to related parties of $146 million (2014 - $96 million), (note 16).

Other Long-Term Obligations (Pa

Other Long-Term Obligations (Parenthetical) (Detail) - CAD CAD in Millions	Dec. 31, 2015	Dec. 31, 2014
Schedule of Other Liabilities [Line Items]
Employee retirement benefits obligations in current liabilities	CAD 59	CAD 58
Asset retirement obligations and other environmental liabilities in current liabilities	CAD 116	CAD 143

Schedule of Asset Retirement Ob

Schedule of Asset Retirement Obligations (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Reconciliation of Changes in Asset Retirement Obligations [Line Items]
Balance as at January 1	CAD 1,292	CAD 1,237
Additions	250	184
Reductions due to property sales	(12)	(153)
Accretion	84	105
Settlement	(43)	(81)
Balance as at December 31	CAD 1,571	CAD 1,292

Share-Based Incentive Compens67

Share-Based Incentive Compensation Programs - Additional Information (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense charged against income	CAD 35	CAD 90	CAD 92
Income tax benefit recognized in income related to compensation expense	13	31	33
Cash payment for compensation expense	CAD 78	CAD 94	CAD 88
Restricted Stock Unit Plan 1 And 2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of consecutive trading days of share price to average prior to exercise date	5 days
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Before-tax unrecognized compensation expense related to non-vested restricted stock	CAD 141
Weighted average vesting period of nonvested restricted stock	3 years 4 months 24 days
Restricted Stock Units | Restricted Stock Unit Plan 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage restricted stock units exercisable three years following grant date	50.00%
Percentage restricted stock units exercisable seven years following grant date	50.00%
Restricted Stock Units | Restricted Stock Unit Plan 2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage restricted stock units exercisable five years following grant date	50.00%
Percentage restricted stock units exercisable ten years following grant date	50.00%

Summarized Information About In

Summarized Information About Incentive Share, Deferred Share and Restricted Stock Units (Detail)	12 Months Ended
	Dec. 31, 2015shares
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at January 1, 2015	8,377,485
Granted	884,080
Exercised	(1,710,721)
Forfeited and cancelled	(46,351)
Outstanding at December 31, 2015	7,504,493
Deferred Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at January 1, 2015	107,199
Granted	14,170
Outstanding at December 31, 2015	121,369

Gains and Losses on Asset Sales

Gains and Losses on Asset Sales (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014		Dec. 31, 2013
Investment And Other Income [Line Items]
Proceeds from asset sales	CAD 142	CAD 851		CAD 160
Book value of assets sold	45	155		10
Gain/(loss) on asset sales, before tax	97	696	[1]	150	[2]
Gain/(loss) on asset sales, after tax	CAD 79	CAD 526	[1]	CAD 120	[2]
[1]	2014 included a gain of $638 million ($478 million, after tax) for the sale of the company's interest in producing conventional assets located in Boundary Lake, Cynthia/West Pembina and Rocky Mountain House.
[2]	2013 included a gain of $85 million ($73 million, after tax) for the sale of non-operating assets.

Gains and Losses on Asset Sal70

Gains and Losses on Asset Sales (Parenthetical) (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014		Dec. 31, 2013
Investment And Other Income [Line Items]
Gain/(loss) on asset sales, before tax	CAD 97	CAD 696	[1]	CAD 150	[2]
Gain/(loss) on asset sales, after tax	CAD 79	526	[1]	120	[2]
Conventional Assets
Investment And Other Income [Line Items]
Gain/(loss) on asset sales, before tax		638
Gain/(loss) on asset sales, after tax		CAD 478
Non-Operating Assets
Investment And Other Income [Line Items]
Gain/(loss) on asset sales, before tax				85
Gain/(loss) on asset sales, after tax				CAD 73
[1]	2014 included a gain of $638 million ($478 million, after tax) for the sale of the company's interest in producing conventional assets located in Boundary Lake, Cynthia/West Pembina and Rocky Mountain House.
[2]	2013 included a gain of $85 million ($73 million, after tax) for the sale of non-operating assets.

Investment and Other Income - A

Investment and Other Income - Additional Information (Detail) - Subsequent Event $ in Millions	Feb. 10, 2016USD ($)
Investment And Other Income [Line Items]
Proceeds from sale and transition of business	$ 135
Book value of business sold	$ 16

Schedule of Unconditional Purch

Schedule of Unconditional Purchase Obligations (Detail) CAD in Millions	Dec. 31, 2015CAD	[1]
Unrecorded Unconditional Purchase Obligation [Line Items]
Unconditional purchase obligations payments due 2016	CAD 100
Unconditional purchase obligations payments due 2017	87
Unconditional purchase obligations payments due 2018	88
Unconditional purchase obligations payments due 2019	101
Unconditional purchase obligations payments due 2020	106
Unconditional purchase obligations payments due after 2020	154
Unconditional Purchase Obligation, Total	CAD 636
[1]	Undiscounted obligations of $636 million mainly pertain to pipeline throughput agreements. Total payments under unconditional purchase obligations were $125 million (2014 - $112 million, 2013 - $95 million). The present value of these commitments, excluding imputed interest of $108 million, totaled $528 million.

Schedule of Unconditional Pur73

Schedule of Unconditional Purchase Obligations (Parenthetical) (Detail) - CAD CAD in Millions		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Unrecorded Unconditional Purchase Obligation [Line Items]
Undiscounted obligations mainly pertaining to pipeline throughput agreements	[1]	CAD 636
Total payments under unconditional purchase obligations		125	CAD 112	CAD 95
Imputed interest on commitments		108
Total present value of commitments excluding imputed interest		CAD 528
[1]	Undiscounted obligations of $636 million mainly pertain to pipeline throughput agreements. Total payments under unconditional purchase obligations were $125 million (2014 - $112 million, 2013 - $95 million). The present value of these commitments, excluding imputed interest of $108 million, totaled $528 million.

Summary of Common Shares (Detai

Summary of Common Shares (Detail) - shares	Dec. 31, 2015	Dec. 31, 2014
Class of Stock [Line Items]
Authorized	1,100,000,000	1,100,000,000

Common Shares - Additional Info

Common Shares - Additional Information (Detail) CAD in Millions	12 Months Ended		240 Months Ended
	Dec. 31, 2015Repurchase_Planshares	Dec. 31, 2014shares	Dec. 31, 2015CADRepurchase_Planshares
Class of Stock [Line Items]
Normal course issuer bid share repurchase programs | Repurchase_Plan	20		20
Normal course issuer bid share repurchase term, months	12 months
Exxon Mobil Corporation's ownership interest in Imperial	69.60%		69.60%
Cumulative purchases to date, shares	1,000	2,000	906,544,000
Cumulative purchases to date, value | CAD			CAD 15,708
Normal course issuer bid share repurchase shares authorized	1,000,000		1,000,000

Common Share Activities (Detail

Common Share Activities (Detail) - CAD shares in Thousands, CAD in Millions	12 Months Ended					240 Months Ended
	Dec. 31, 2015		Dec. 31, 2014		Dec. 31, 2013	Dec. 31, 2015
Class of Stock [Line Items]
Common stock beginning balance, shares	847,599		847,599		847,599
Issued under employee share-based awards	1		2
Purchases at stated value, shares	(1)		(2)			(906,544)
Common stock, ending balance, shares	847,599		847,599		847,599	847,599
Common stock beginning balance, value	CAD 1,566	[1]	CAD 1,566		CAD 1,566
Issued under employee share-based awards, value	0		0		0
Purchases at stated value, value						CAD (15,708)
Common stock, ending balance, value	1,566	[1]	1,566	[1]	1,566	CAD 1,566	[1]
Common Stock
Class of Stock [Line Items]
Purchases at stated value, value	CAD 0		CAD 0		CAD 0
[1]	Number of common shares authorized and outstanding were 1,100 million and 848 million, respectively (2014 - 1,100 million and 848 million, respectively), (note 10).

Net Income Per Share (Detail)

Net Income Per Share (Detail) - CAD CAD / shares in Units, shares in Millions, CAD in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Net income per common share - basic
Net income	CAD 1,122	CAD 3,785	CAD 2,828
Weighted average number of common shares outstanding (millions of shares)	847.6	847.6	847.6
Net income per common share (dollars)	CAD 1.32	CAD 4.47	CAD 3.34
Net income per common share - diluted
Net income	CAD 1,122	CAD 3,785	CAD 2,828
Weighted average number of common shares outstanding (millions of shares)	847.6	847.6	847.6
Effect of employee share-based awards (millions of shares)	3	3	3
Weighted average number of common shares outstanding, assuming dilution (millions of shares)	850.6	850.6	850.6
Net income per common share (dollars)	CAD 1.32	CAD 4.45	CAD 3.32

Miscellaneous Financial Infor78

Miscellaneous Financial Information - Additional Information (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Additional Financial Information [Line Items]
Effect of LIFO inventory liquidation on income	CAD 39	CAD 29	CAD 24
Difference between LIFO carrying values and replacement cost of inventories	427	857
Inventory write-down to current market value	59
Research and development costs charged to expenses	149	128	CAD 154
Accounts payable and accrued liabilities included accrued taxes other than income taxes	CAD 378	CAD 408

Inventories of Crude Oil and Pr

Inventories of Crude Oil and Products (Detail) - CAD CAD in Millions	Dec. 31, 2015	Dec. 31, 2014
Product Information [Line Items]
Crude oil	CAD 690	CAD 650
Petroleum products	443	409
Chemical products	51	53
Natural gas and other	6	9
Total inventories of crude oil and products	CAD 1,190	CAD 1,121

Financing Costs and Additiona80

Financing Costs and Additional Notes and Loans Payable Information (Detail) - CAD CAD in Millions		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Debt-related interest		CAD 102	CAD 82	CAD 69
Capitalized interest		(68)	(82)	(69)
Net interest expense		34
Other interest		5	4	11
Total financing costs	[1]	CAD 39	CAD 4	CAD 11
[1]	Cash interest payments in 2015 were $74 million (2014 - $82 million, 2013 - $69 million). The weighted average interest rate on short-term borrowings in 2015 was 0.8 percent (2014 - 1.1 percent).

Financing Costs and Additiona81

Financing Costs and Additional Notes and Loans Payable Information (Parenthetical) (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash interest payments	CAD 74	CAD 82	CAD 69
Weighted average interest rate on short-term borrowings	0.80%	1.10%

Financing Costs and Additiona82

Financing Costs and Additional Notes and Loans Payable Information - Additional Information (Detail) - CAD	3 Months Ended
	Sep. 30, 2015	Mar. 31, 2015	Dec. 31, 2015
Unsecured committed bank credit facility
Financing Activities [Line Items]
Line of credit maximum borrowing capacity		CAD 500,000,000
Non-interest bearing, revolving demand loan, outstanding amount		CAD 0
Debt instrument, maturity date		Mar. 31, 2016
Revolving demand loan
Financing Activities [Line Items]
Line of credit maximum borrowing capacity	CAD 500,000,000
Debt instrument, maturity date	Aug. 31, 2017
Exxon Mobil | Revolving demand loan
Financing Activities [Line Items]
Line of credit maximum borrowing capacity			CAD 75,000,000
Non-interest bearing, revolving demand loan, outstanding amount			CAD 75,000,000

Leased Facilities - Additional

Leased Facilities - Additional Information (Detail) CAD in Millions	Dec. 31, 2015CAD
Operating Leased Assets [Line Items]
Minimum undiscounted lease commitments	CAD 455	[1]
[1]	Net rental cost under cancelable and non-cancelable operating leases incurred in 2015 was $311 million (2014 - $315 million, 2013 - $287 million). Related rental income was not material.

Schedule of Non Cancelable Oper

Schedule of Non Cancelable Operating Leases (Detail) CAD in Millions	Dec. 31, 2015CAD	[1]
Operating Leased Assets [Line Items]
Lease payments under minimum commitments, 2016	CAD 185
Lease payments under minimum commitments, 2017	129
Lease payments under minimum commitments, 2018	71
Lease payments under minimum commitments, 2019	29
Lease payments under minimum commitments, 2020	8
Lease payments under minimum commitments, After 2020	33
Total lease payments under minimum commitments	CAD 455
[1]	Net rental cost under cancelable and non-cancelable operating leases incurred in 2015 was $311 million (2014 - $315 million, 2013 - $287 million). Related rental income was not material.

Schedule of Non Cancelable Op85

Schedule of Non Cancelable Operating Leases (Parenthetical) (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Operating Leased Assets [Line Items]
Net rental cost incurred for operating leases	CAD 311	CAD 315	CAD 287

Long Term Debt (Detail)

Long Term Debt (Detail) - CAD CAD in Millions		Dec. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Long-term debt	[1]	CAD 5,952	CAD 4,746
Capital leases	[2]	612	167
Total long-term debt	[3]	CAD 6,564	CAD 4,913
[1]	Borrowed under an existing agreement with an affiliated company of ExxonMobil that provides for a long-term, variable-rate loan from ExxonMobil to the company of up to $7.75 billion at interest equivalent to Canadian market rates. The agreement is effective until July 31, 2020, cancelable if ExxonMobil provides at least 370 days advance written notice. Average effective rate for the loan was 1.0 percent in 2015.
[2]	Capital leases are primarily associated with transportation facilities and services agreements. The average imputed rate was 5.8 percent in 2015 (2014 - 7.0 percent). Total capitalized lease obligations also include $28 million in current liabilities (2014 - $22 million). Principal payments on capital leases of approximately $25 million per year are due in each of the next four years after December 31, 2016.
[3]	Long-term debt includes amounts to related parties of $5,952 million (2014 - $4,746 million), (note 16).

Long Term Debt (Parenthetical)

Long Term Debt (Parenthetical) (Detail) - CAD	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Maximum long-term borrowing from affiliate	CAD 7,750,000,000
Cancellation period long-term borrowing from affiliate, days	370 days
Average effective rate for affiliate long-term borrowing	1.00%
Capitalized lease obligations for marine services, average imputed rate	5.80%	7.00%
Total capitalized lease obligations in current liabilities	CAD 28,000,000	CAD 22,000,000
Principal payments on capital leases, in two years	25,000,000
Principal payments on capital leases, in three years	25,000,000
Principal payments on capital leases, in four years	25,000,000
Principal payments on capital leases, in five years	CAD 25,000,000

Long Term Debt - Additional Inf

Long Term Debt - Additional Information (Detail) - CAD	1 Months Ended	3 Months Ended	12 Months Ended
	Feb. 10, 2016	Sep. 30, 2015	Dec. 31, 2015	Jul. 31, 2015
Line of Credit Facility [Line Items]
Long-term capital lease obligation			CAD 480,000,000
Subsequent Event
Line of Credit Facility [Line Items]
Drawing from existing facility	CAD 328,000,000
Floating Rate Loan Facility | Exxon Mobil
Line of Credit Facility [Line Items]
Increase in long-term debt drawn from credit facility			1,206,000,000
Line of credit maximum borrowing capacity			7,750,000,000	CAD 6,250,000,000
Revolving demand loan
Line of Credit Facility [Line Items]
Line of credit maximum borrowing capacity		CAD 500,000,000
Debt instrument, maturity date		Aug. 31, 2017
Revolving demand loan | Exxon Mobil
Line of Credit Facility [Line Items]
Line of credit maximum borrowing capacity			CAD 75,000,000

Period End Capitalized Suspende

Period End Capitalized Suspended Exploratory Well Costs (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Projects with Exploratory Well Costs Capitalized for More than One Year [Line Items]
Capitalized suspended exploratory well costs, total	CAD 167	CAD 173	CAD 167	CAD 167	CAD 167	CAD 173
Beginning Balance	167	173	167
Additions pending the determination of proved reserves		5	12
Charged to expense	0	0	0
Reclassification to wells, facilities and equipment based on the determination of proved reserves		(11)	(6)
Ending Balance	CAD 167	CAD 167	CAD 173
Capitalized for a period of one year or less						6
Capitalized For A Period Of Between One And Five Years
Projects with Exploratory Well Costs Capitalized for More than One Year [Line Items]
Capitalized suspended exploratory well costs				167	167	167
Capitalized For A Period Of Greater Than One Year
Projects with Exploratory Well Costs Capitalized for More than One Year [Line Items]
Capitalized suspended exploratory well costs				CAD 167	CAD 167	CAD 167

Number of Projects with Suspend

Number of Projects with Suspended Exploratory Well Costs (Detail) - Project	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Exploratory Wells Drilled [Line Items]
Number of projects with first capitalized well drilled in the preceding 12 months	0	0	0
Number of projects that have exploratory well costs capitalized for a period of greater than 12 months	1	1	1
Total projects	1	1	1

Transactions With related Par91

Transactions With related Parties - Additional Information (Detail) - CAD CAD in Millions	Dec. 31, 2015	Dec. 31, 2014
Rail Loading Joint Venture
Related Party Transaction [Line Items]
Outstanding obligations due to a rail loading joint venture	CAD 187	CAD 123
Interest ownership percentage	50.00%
Long-Term Loans
Related Party Transaction [Line Items]
Outstanding loans from an affiliate	CAD 5,952	4,746
Short-Term Loans
Related Party Transaction [Line Items]
Outstanding loans from an affiliate	CAD 75	CAD 75

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Income (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance as at January 1	CAD (2,059)	CAD (1,721)	CAD (2,455)
Current period change excluding amounts reclassified from accumulated other comprehensive income	64	(483)	529
Amounts reclassified from accumulated other comprehensive income	167	145	205
Balance as at December 31	CAD (1,828)	CAD (2,059)	CAD (1,721)

Amounts Reclassified Out of Acc

Amounts Reclassified Out of Accumulated Other Comprehensive Income (Detail) - CAD CAD in Millions		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
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	[1]	CAD (228)	CAD (196)	CAD (276)
[1]	This accumulated other comprehensive income component is included in the computation of net periodic benefit cost (note 4).

Income Tax Expense_(Credit) for

Income Tax Expense/(Credit) for Components of Other Comprehensive Income (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Accumulated Other Comprehensive Income (Loss) [Line Items]
Post-retirement benefits liability adjustment (excluding amortization)	CAD 24	CAD (169)	CAD 185
Amortization of post-retirement benefits liability adjustment included in net periodic benefit cost	61	51	71
Total	CAD 85	CAD (118)	CAD 256