Imperial Oil Limited (IMO) 10-K 23 Feb 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - CAD	12 Months Ended
	Dec. 31, 2016	Feb. 08, 2017	Jun. 30, 2016
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2,016
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 10,533,578,543

Consolidated statement of incom

Consolidated statement of income - CAD CAD in Millions		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenues and other income
Operating revenues	[1],[2],[3]	CAD 25,049	CAD 26,756	CAD 36,231
Investment and other income (note 8)		2,305	132	735
Total revenues and other income		27,354	26,888	36,966
Expenses
Exploration (note 15)		94	73	67
Purchases of crude oil and products	[4]	15,120	15,284	22,479
Production and manufacturing	[5]	5,224	5,434	5,662
Selling and general	[5]	1,129	1,117	1,075
Federal excise tax	[2]	1,650	1,568	1,562
Depreciation and depletion		1,628	1,450	1,096
Financing costs (note 12)	[6]	65	39	4
Total expenses		24,910	24,965	31,945
Income (loss) before income taxes		2,444	1,923	5,021
Income taxes (note 3)	[7],[8]	279	801	1,236
Net income (loss)		CAD 2,165	CAD 1,122	CAD 3,785
Per-share information (Canadian dollars)
Net income (loss) per common share - basic (note 10)		CAD 2.55	CAD 1.32	CAD 4.47
Net income (loss) per common share - diluted (note 10)		2.55	1.32	4.45
Dividends per common share		CAD 0.59	CAD 0.54	CAD 0.52
[1]	Amounts from related parties included in operating revenues (note 16).* 2,342 3,058 3,358
[2]	Federal excise tax included in operating revenues. 1,650 1,568 1,562
[3]	Includes export sales to the United States of $3,612 million (2015 - $4,157 million, 2014 - $5,940 million). Export sales to the United States were recorded in all operating segments, with the largest effects in the Upstream segment.
[4]	Amounts to related parties included in purchases of crude oil and products (note 16).* 2,224 2,684 3,262
[5]	Amounts to related parties included in production and manufacturing, and selling and general expenses (note 16). 533 442 366
[6]	Cash interest payments in 2016 were $73 million (2015 - $74 million, 2014 - $82 million). The weighted average interest rate on short-term borrowings in 2016 was 0.8 percent (2015 - 0.8 percent, 2014 - 1.1 percent). Average effective rate on the long-term borrowings with ExxonMobil in 2016 was 1.0 percent (2015 - 1.0 percent, 2014 - 1.2 percent).
[7]	Cash outflow from income taxes, plus investment credits earned, was $172 million (2015 - $202 million, 2014 - $811 million).
[8]	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 (Parenthetical) - CAD CAD in Millions		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015		Dec. 31, 2014
Federal excise tax included in operating revenues	[1]	CAD 1,650	CAD 1,568		CAD 1,562
Amounts from related parties included in operating revenues (note 16)		2,342	3,058	[2]	3,358	[2]
Amounts to related parties included in purchases of crude oil and products (note 16)		2,224	2,684	[2]	3,262	[2]
Amounts to related parties included in production and manufacturing, and selling and general expenses (note 16)		CAD 533	CAD 442		CAD 366
[1]	Federal excise tax included in operating revenues. 1,650 1,568 1,562
[2]	*Note: Restated 2015 and 2014.

Consolidated statement of compr

Consolidated statement of comprehensive income - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Net income (loss)	CAD 2,165	CAD 1,122	CAD 3,785
Other comprehensive income (loss), net of income taxes
Post-retirement benefits liability adjustment (excluding amortization)	(210)	64	(483)
Amortization of post-retirement benefits liability adjustment included in net periodic benefit costs	141	167	145
Total other comprehensive income (loss)	(69)	231	(338)
Comprehensive income (loss)	CAD 2,096	CAD 1,353	CAD 3,447

Consolidated balance sheet

Consolidated balance sheet - CAD CAD in Millions		Dec. 31, 2016	Dec. 31, 2015
Current assets
Cash	[1]	CAD 391	CAD 203
Accounts receivable, less estimated doubtful accounts	[2]	2,023	1,581
Inventories of crude oil and products (note 11)		949	1,190
Materials, supplies and prepaid expenses		468	424
Deferred income tax assets (note 3)	[3]		272
Total current assets		3,831	3,670
Investments and long-term receivables		1,030	1,254
Property, plant and equipment, less accumulated depreciation and depletion (note 2)	[4]	36,333	37,799
Goodwill		186	224
Other assets, including intangibles, net	[3]	274	223
Total assets (note 2)		41,654	43,170
Current liabilities
Notes and loans payable (note 12)	[5]	202	1,952
Accounts payable and accrued liabilities (note 11)	[2],[3]	3,193	2,989
Income taxes payable		488	452
Total current liabilities		3,883	5,393
Long-term debt (note 14)	[6]	5,032	6,564
Other long-term obligations (note 5)	[7]	3,656	3,597
Deferred income tax liabilities (note 3)	[3]	4,062	4,191
Total liabilities		16,633	19,745
Commitments and contingent liabilities (note 9)
Shareholders' equity
Common shares at stated value (note 10)	[8]	1,566	1,566
Earnings reinvested		25,352	23,687
Accumulated other comprehensive income (loss) (note 17)		(1,897)	(1,828)
Total shareholders' equity		25,021	23,425
Total liabilities and shareholders' equity		CAD 41,654	CAD 43,170
[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 net amounts receivable from related parties of $172 million (2015 - $129 million), (note 16).
[3]	Per ASU 2015-17, deferred tax assets and liabilities have been prospectively classified as non-current. Prior periods were not restated (note 1).
[4]	Includes property, plant and equipment under construction of $2,705 million (2015 - $3,719 million).
[5]	Notes and loans payable included amounts to related parties of $75 million (2015 - $75 million), (note 16).
[6]	Long-term debt included amounts to related parties of $4,447 million (2015 - $5,952 million), (note 16).
[7]	Other long-term obligations included amounts to related parties of $104 million (2015 - $146 million), (note 16).
[8]	Number of common shares authorized and outstanding were 1,100 million and 848 million, respectively (2015 - 1,100 million and 848 million, respectively), (note 10).

Consolidated balance sheet (Par

Consolidated balance sheet (Parenthetical) - CAD CAD in Millions	Dec. 31, 2016	Dec. 31, 2015
Amounts receivable (payable) from (to) related parties	CAD 172	CAD 129
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 4,447	CAD 5,952
Other long-term obligations
Due to related parties	CAD 104	CAD 146

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 (loss) (note 17)
At beginning of year at Dec. 31, 2013		CAD 1,566	CAD 19,679	CAD (1,721)
Net income (loss) for the year	CAD 3,785		3,785
Issued under the stock option plan		0
Other comprehensive income (loss)	(338)			(338)
Share purchases in excess of stated value			0
Share purchases at stated value		0
Dividends declared			(441)
At end of year at Dec. 31, 2014	22,530	1,566	23,023	(2,059)
Net income (loss) for the year	1,122		1,122
Issued under the stock option plan		0
Other comprehensive income (loss)	231			231
Share purchases in excess of stated value			0
Share purchases at stated value		0
Dividends declared			(458)
At end of year at Dec. 31, 2015	23,425	1,566	23,687	(1,828)
Net income (loss) for the year	2,165		2,165
Issued under the stock option plan		0
Other comprehensive income (loss)	(69)			(69)
Share purchases in excess of stated value			0
Share purchases at stated value		0
Dividends declared			(500)
At end of year at Dec. 31, 2016	CAD 25,021	CAD 1,566	CAD 25,352	CAD (1,897)

Consolidated statement of cash

Consolidated statement of cash flows - CAD CAD in Millions		12 Months Ended
		Dec. 31, 2016		Dec. 31, 2015		Dec. 31, 2014
Operating activities
Net income (loss)		CAD 2,165		CAD 1,122		CAD 3,785
Adjustments for non-cash items:
Depreciation and depletion		1,628		1,450		1,096
(Gain) loss on asset sales (note 8)	[1],[2]	(2,244)		(97)		(696)
Inventory write-down to current market value (note 11)				59
Deferred income taxes and other		114		367		1,123
Changes in operating assets and liabilities:
Accounts receivable		(442)		(42)		545
Inventories, materials, supplies and prepaid expenses		197		(172)		(129)
Income taxes payable		36		418		(693)
Accounts payable and accrued liabilities		237		(1,030)		(549)
All other items - net	[3]	324		92		(77)
Cash flows from (used in) operating activities		2,015		2,167		4,405
Investing activities
Additions to property, plant and equipment		(1,073)		(2,994)		(5,290)
Proceeds from asset sales (note 8)		3,021		142		851
Additional investments		(1)		(32)		(123)
Cash flows from (used in) investing activities		1,947		(2,884)		(4,562)
Financing activities
Short-term debt - net		(1,749)		(32)		120
Long-term debt - additions (note 14)		495		1,206		430
Long-term debt - reductions (note 14)		(2,000)
Reduction in capitalized lease obligations		(28)		(20)		(9)
Dividends paid		(492)		(449)		(441)
Cash flows from (used in) financing activities		(3,774)		705		100
Increase (decrease) in cash		188		(12)		(57)
Cash at beginning of year		203	[4]	215	[4]	272
Cash at end of year	[4]	CAD 391		CAD 203		CAD 215
[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]	2016 included a gain of $2.0 billion ($1.7 billion, after tax) from the sale of company-owned Esso-branded retail sites; and a gain of $161 million ($134 million, after tax) for the sale of Imperial's general aviation business.
[3]	Included contribution to registered pension plans. 163 225 362
[4]	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 (Parenthetical) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Included contribution to registered pension plans	CAD 163	CAD 225	CAD 362
Long-term capital lease obligation		CAD 480

Summary of significant accounti

Summary of significant accounting policies	12 Months Ended
	Dec. 31, 2016
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 ULC. 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 first-in, first-out 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 These investments represent interests in non-publicly Property, plant and equipment Cost basis Imperial uses the “successful efforts” method to account for its exploration and production activities. Under this method, costs are accumulated on a field-by-field 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. Depreciation, depletion and amortization Depreciation, depletion and amortization are primarily determined under either the unit-of-production Acquisition costs of proved properties are amortized using a unit-of-production unit-of-production unit-of-production unit-of-production Under the SEC definition of proved reserves, certain quantities of bitumen no longer qualified as proved reserves at year-end de-booked unit-of-production Investments in refinery, chemical process, and lubes basestock manufacturing equipment are generally depreciated on a straight-line basis over a 25-year Impairment assessment The company tests assets or groups of assets for recoverability whenever events or circumstances indicate that the carrying amounts may not be recoverable. Among the events or changes in circumstances which could indicate that the carrying value of an asset or asset group may not be recoverable are the following: ● 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 the company’s current and projected reserve volumes; ● A significant adverse change in legal factors or in the business climate that could affect the value, including a significant 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, Imperial does not view temporarily low prices or margins as an indication of impairment. Management does not believe that lower prices are sustainable if energy is to be delivered with supply security to meet global demand over the long term. 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. Because the lifespans of the company’s major assets are measured in decades, the value of these assets is predominantly based on long-term views of future commodity prices and production costs. During the lifespan of these major assets, the company expects that oil and gas prices will experience significant volatility, and consequently these assets will experience periods of higher earnings and periods of lower earnings, or even losses. In assessing whether the events or changes in circumstances indicate the carrying value of an asset may not be recoverable, the company considers recent periods of operating losses in the context of its longer-term view of prices. While near-term prices are subject to wide fluctuations, longer term price views are more stable and meaningful for purposes of assessing future cash flows. When the industry experiences a prolonged and deep reduction in commodity prices, the market supply and demand conditions may result in changes to the company’s long-term price or margin assumptions it uses for its capital investment decisions. To the extent those changes result in a significant reduction in the mid-point In the upstream, the standardized measure of discounted cash flows included in the “Supplemental information on oil and gas exploration and production activities” is required to use prices based on the average of first-of-month If events or circumstances indicate that the carrying value may not be recoverable, the company estimates the future undiscounted cash flows of the affected properties to judge the recoverability of carrying amounts. In performing this assessment, 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. Cash flows used in recoverability assessments are based on the company’s assumptions which are developed in the annual planning and budgeting process, and are consistent with the criteria management uses to evaluate investment opportunities. These evaluations make use of the company’s assumption of future crude oil and natural gas commodity prices, refining and chemical margins, volumes, costs, and foreign currency exchange rates. Volumes are based on projected field and facility production profiles, throughput, or sales. Where unproved reserves exist, an appropriately risk-adjusted amount of these reserves may be included in the evaluation. An asset group is impaired if its undiscounted cash flows are less than the asset group’s carrying value. Impairments are measured by the amount by which the carrying value exceeds fair value. Fair value is based on market prices if an active market exists for the asset group or discounted cash flows using a discount rate commensurate with the risk. Significant unproved properties are assessed for impairment individually, and valuation allowances against the capitalized costs would be 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. 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 incurred to finance expenditures during the construction phase of multiyear projects are capitalized as part of property, plant and equipment and are depreciated over the service life of the related assets. 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, marketing and office 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 reduced by possible recoveries from third parties and projected cash expenditures 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 72 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 Financial Accounting Standards Board (FASB) issued a new standard, Revenue from Contracts with Customers. In February 2016, the FASB issued a new standard, Leases Effective September 30, 2016, Imperial early adopted Accounting Standards Update (ASU) no. 2015-17 Balance sheet classification of deferred taxes non-current, non-current. The balance sheet classification of deferred income tax assets / (liabilities) are shown below. millions of Canadian dollars As at Dec 31 As at Dec 31 2015 Deferred income tax assets - 272 Other assets, including intangibles, net 57 - Accounts payable and accrued liabilities - (41) Deferred income tax liabilities (4,062) (4,191) Net deferred tax liabilities (4,005) (3,960)

Business segments

Business segments	12 Months Ended
	Dec. 31, 2016
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 earnings effects in this segment primarily include 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 proportional segment expenses. 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 Canadian dollars 2016 2015 2014 2016 2015 2014 2016 2015 2014 Revenues and other income Operating revenues (a) 5,492 5,776 8,408 18,511 19,796 26,400 1,046 1,184 1,423 Intersegment sales 2,215 2,486 4,087 1,007 1,019 1,359 212 234 381 Investment and other income (note 8) 13 22 667 2,278 104 65 - - - 7,720 8,284 13,162 21,796 20,919 27,824 1,258 1,418 1,804 Expenses Exploration (note 15) 94 73 67 - - - - - - Purchases of crude oil and products 3,666 3,768 5,628 14,178 14,526 21,476 705 725 1,196 Production and manufacturing 3,591 3,766 3,882 1,428 1,461 1,564 205 207 216 Selling and general (5 ) (2 ) 3 972 986 887 83 87 70 Federal excise tax - - - 1,650 1,568 1,562 - - - Depreciation and depletion 1,396 1,193 857 206 233 216 10 11 12 Financing costs (note 12) (7 ) 5 4 - - - - - - Total expenses 8,735 8,803 10,441 18,434 18,774 25,705 1,003 1,030 1,494 Income (loss) before income taxes (1,015 ) (519 ) 2,721 3,362 2,145 2,119 255 388 310 Income taxes Current (491 ) (77 ) (219 ) 674 476 296 68 97 76 Deferred 137 262 881 (66 ) 83 229 - 4 5 Total income tax expense (354 ) 185 662 608 559 525 68 101 81 Net income (loss) (661 ) (704 ) 2,059 2,754 1,586 1,594 187 287 229 Cash flows from (used in) operating activities 402 224 2,519 1,574 1,686 1,666 203 383 250 Capital and exploration expenditures 896 3,135 4,974 190 340 572 26 52 26 Property, plant and equipment Cost 45,850 45,171 42,142 6,166 7,596 7,460 872 857 798 Accumulated depreciation and depletion (12,312 ) (11,016 ) (10,103 ) (4,037 ) (4,584 ) (4,459 ) (629 ) (616 ) (601 ) Net property, plant and equipment 33,538 34,155 32,039 2,129 3,012 3,001 243 241 197 Total assets 36,840 36,971 34,421 3,958 5,574 5,823 346 394 372 Corporate and Other Eliminations Consolidated millions of Canadian dollars 2016 2015 2014 2016 2015 2014 2016 2015 2014 Revenues and other income Operating revenues (a) - - - - - - 25,049 26,756 36,231 Intersegment sales - - - (3,434 ) (3,739 ) (5,827 ) - - - Investment and other income (note 8) 14 6 3 - - - 2,305 132 735 14 6 3 (3,434 ) (3,739 ) (5,827 ) 27,354 26,888 36,966 Expenses Exploration (note 15) - - - - - - 94 73 67 Purchases of crude oil and products - - - (3,429 ) (3,735 ) (5,821 ) 15,120 15,284 22,479 Production and manufacturing - - - - - - 5,224 5,434 5,662 Selling and general 84 50 121 (5 ) (4 ) (6 ) 1,129 1,117 1,075 Federal excise tax - - - - - - 1,650 1,568 1,562 Depreciation and depletion 16 13 11 - - - 1,628 1,450 1,096 Financing costs (note 12) 72 34 - - - - 65 39 4 Total expenses 172 97 132 (3,434 ) (3,739 ) (5,827 ) 24,910 24,965 31,945 Income (loss) before income taxes (158 ) (91 ) (129 ) - - - 2,444 1,923 5,021 Income taxes Current (51 ) (45 ) (47 ) - - - 200 451 106 Deferred 8 1 15 - - - 79 350 1,130 Total income tax expense (43 ) (44 ) (32 ) - - - 279 801 1,236 Net income (loss) (115 ) (47 ) (97 ) - - - 2,165 1,122 3,785 Cash flows from (used in) operating activities (143 ) (124 ) (30 ) (21 ) (2 ) - 2,015 2,167 4,405 Capital and exploration expenditures 49 68 82 - - - 1,161 3,595 5,654 Property, plant and equipment Cost 627 579 511 - - - 53,515 54,203 50,911 Accumulated depreciation and depletion (204 ) (188 ) (174 ) - - - (17,182 ) (16,404 ) (15,337 ) Net property, plant and equipment 423 391 337 - - - 36,333 37,799 35,574 Total assets 894 579 565 (384 ) (348 ) (351 ) 41,654 43,170 40,830 (a) Includes export sales to the United States of $3,612 million (2015 - $4,157 million, 2014 - $5,940 million). Export sales to the United States were recorded in all operating segments, with the largest effects in the Upstream segment. (b) Capital and exploration expenditures (CAPEX) include exploration expenses, additions to property, plant and equipment, additions to capital leases, additional investments and acquisitions. (c) Includes property, plant and equipment under construction of $2,705 million (2015 - $3,719 million).

Income taxes

Income taxes	12 Months Ended
	Dec. 31, 2016
Income taxes	3. Income taxes millions of Canadian dollars 2016 2015 2014 Current income tax expense (a) 200 451 106 Deferred income tax expense (a) (b) 79 350 1,130 Total income tax expense (a) (c) 279 801 1,236 Statutory corporate tax rate (percent) 26.8 27.2 25.5 Increase (decrease) resulting from: Disposals (d) (11.6 ) (0.4 ) (0.1 ) Enacted tax rate change (a) - 16.1 - Other (3.8 ) (1.2 ) (0.8 ) Effective income tax rate 11.4 41.7 24.6 (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 2016. (c) Cash outflow from income taxes, plus investment credits earned, was $172 million (2015 - $202 million, 2014 - $811 million). (d) 2016 disposals are primarily associated with the sales of company-owned Esso retail sites and the general aviation business. Capital gains tax treatment was applied on the majority of disposals. In 2016, the decrease in the statutory tax rate in the other category mainly represents prior year adjustments and re-assessments. Deferred income taxes are based on differences between the accounting and tax values of assets and liabilities. These differences in value are re-measured year-end millions of Canadian dollars 2016 2015 2014 Depreciation and amortization 5,361 4,677 3,777 Successful drilling and land acquisitions 891 922 827 Pension and benefits (457 ) (396 ) (438 ) Asset retirement obligation (396 ) (406 ) (304 ) Capitalized interest 114 104 82 LIFO inventory valuation (a) (240 ) - - Tax loss carryforwards (1,056 ) (610 ) (30 ) Other (a) (212 ) (100 ) (73 ) Net long-term deferred income tax liabilities 4,005 4,191 3,841 LIFO inventory valuation (a) - (112 ) (201 ) Other (a) - (160 ) (113 ) Net current deferred income tax assets - (272 ) (314 ) Net current deferred income tax liabilities (a) - 41 - Net deferred income tax liabilities 4,005 3,960 3,527 (a) Per ASU 2015-17, non-current. 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 Canadian dollars 2016 2015 2014 Balance as of January 1 132 151 151 Additions based on current year’s tax position - - 4 Additions for prior years’ tax position 2 10 - Reductions for prior years’ tax positions (23 ) (29 ) (4 ) Reductions due to lapse of the statute of limitations (5 ) - - Balance as of December 31 106 132 151 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 2016, 2015 and 2014 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 2009 to 2016 are subject to examination by the tax authorities. Tax filing from 1994 to 1996, 1998 and 2000 to 2008 have open objections and therefore are also 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 2017. 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, 2016
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 U.S. GAAP. 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 2016 2015 2016 2015 Assumptions used to determine benefit obligations Discount rate 3.75 4.00 3.75 4.00 Long-term rate of compensation increase 4.50 4.50 4.50 4.50 millions of Canadian dollars Change in projected benefit obligation Projected benefit obligation at January 1 8,147 7,970 642 634 Current service cost 203 211 16 15 Interest cost 319 307 27 25 Actuarial loss (gain) 157 114 46 (2 ) Benefits paid (a) (470 ) (455 ) (25 ) (30 ) Projected benefit obligation at December 31 8,356 8,147 706 642 Accumulated benefit obligation at December 31 7,681 7,506 The discount rate for calculating year-end year-end Pension benefits Other post-retirement benefits millions of Canadian dollars 2016 2015 2016 2015 Change in plan assets Fair value at January 1 7,260 6,807 Actual return (loss) on plan assets 316 592 Company contributions 163 225 Benefits paid (b) (380 ) (364 ) Fair value at December 31 7,359 7,260 Plan assets in excess of (less than) projected benefit obligation Funded plans (444 ) (300 ) Unfunded plans (553 ) (587 ) (706 ) (642 ) Total (c) (997 ) (887 ) (706 ) (642 ) (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 benefits millions of Canadian dollars 2016 2015 2016 2015 Amounts recorded in the consolidated balance sheet consist of: Current liabilities (29 ) (30 ) (29 ) (29 ) Other long-term obligations (968 ) (857 ) (677 ) (613 ) Total recorded (997 ) (887 ) (706 ) (642 ) Amounts recorded in accumulated other comprehensive Net actuarial loss (gain) 2,461 2,382 197 164 Prior service cost 14 23 - - Total recorded in accumulated other comprehensive income, before tax 2,475 2,405 197 164 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 2016 long-term expected return of 5.5 percent used in the calculations of pension expense compares to an actual rate of return of 5.5 percent and 7.7 percent over the last 10- 20-year Pension benefits Other post-retirement benefits millions of Canadian dollars 2016 2015 2014 2016 2015 2014 Assumptions used to determine net periodic benefit cost for years ended December 31 (percent) Discount rate 4.00 3.75 4.75 4.00 3.75 4.75 Long-term rate of return on funded assets 5.50 5.75 6.25 - - - Long-term rate of compensation increase 4.50 4.50 4.50 4.50 4.50 4.50 millions of Canadian dollars Components of net periodic benefit cost Current service cost 203 211 152 16 15 9 Interest cost 319 307 322 27 25 26 Expected return on plan assets (400 ) (392 ) (369 ) - - - Amortization of prior service cost 9 16 23 - - - Amortization of actuarial loss (gain) 162 198 166 13 14 7 Net periodic benefit cost 293 340 294 56 54 42 Changes in amounts recorded in accumulated other comprehensive income Net actuarial loss (gain) 241 (86 ) 529 46 (2 ) 123 Amortization of net actuarial (loss) gain included (162 ) (198 ) (166 ) (13 ) (14 ) (7 ) Amortization of prior service cost included in net periodic benefit cost (9 ) (16 ) (23 ) - - - Total recorded in other comprehensive income 70 (300 ) 340 33 (16 ) 116 Total recorded in net periodic benefit cost and other comprehensive income, before tax 363 40 634 89 38 158 Costs for defined contribution plans, primarily the employee savings plan, were $44 million in 2016 (2015 - $43 million, 2014 - $40 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 Canadian dollars 2016 2015 2014 (Charge) credit to other comprehensive income, before tax (103 ) 316 (456 ) Deferred income tax (charge) credit (note 17) 34 (85 ) 118 (Charge) credit to other comprehensive income, after tax (69 ) 231 (338 ) 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 The 2016 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, 2016, using: millions of Canadian dollars Total Level 1 Level 2 Level 3 Net Asset Value (a) Asset class Equity securities - - Canadian 433 433 Non-Canadian 2,448 2,448 Debt securities - Canadian Corporate 988 988 Government 3,218 3,218 Asset backed - - Equities – Venture capital 241 241 Cash 31 6 25 Total plan assets at fair value 7,359 6 - - 7,353 (a) Per ASU 2015-07, 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 Canadian dollars Total Level 1 Level 2 Level 3 Net Asset Value (a) Asset class Equity securities Canadian 469 469 Non-Canadian 2,267 2,267 Debt securities - Canadian Corporate 984 984 Government 3,251 3,251 Asset backed 4 4 Equities – Venture capital 272 272 Cash 13 13 Total plan assets at fair value 7,260 13 - - 7,247 (a) Per ASU 2015-07, re-categorized A summary of pension plans with accumulated benefit obligations in excess of plan assets is shown in the table below: Pension benefits millions of Canadian dollars 2016 2015 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 553 587 Accumulated benefit obligation 525 560 Estimated 2017 amortization from accumulated other comprehensive income millions of Canadian dollars Pension benefits Other post-retirement benefits Net actuarial loss (gain) (a) 179 14 Prior service cost (b) 11 - (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 Canadian dollars Pension benefits Other post-retirement benefits 2017 420 30 2018 425 31 2019 435 31 2020 440 32 2021 440 33 2022 - 2026 2,201 175 In 2017, the company expects to make cash contributions of about $217 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 Canadian dollars One percent increase One percent decrease Rate of return on plan assets: Effect on net benefit cost, before tax (70) 70 Discount rate: Effect on net benefit cost, before tax (90) 110 Effect on benefit obligation (1,135) 1,455 Rate of pay increases: Effect on net benefit cost, before tax 50 (40) Effect on benefit obligation 230 (195) A one percent change in the assumed health-care cost trend rate would have the following effects: Increase (decrease) millions of Canadian dollars One percent increase One percent decrease Effect on service and interest cost components 7 (5) Effect on benefit obligation 85 (70)

Other long-term obligations

Other long-term obligations	12 Months Ended
	Dec. 31, 2016
Other long-term obligations	5. Other long-term obligations millions of Canadian dollars 2016 2015 Employee retirement benefits (a) (note 4) 1,645 1,470 Asset retirement obligations and other environmental liabilities (b) 1,544 1,628 Share-based incentive compensation liabilities (note 7) 139 134 Other obligations 328 365 Total other long-term obligations 3,656 3,597 (a) Total recorded employee retirement benefits obligations also included $58 million in current liabilities (2015 – $59 million). (b) Total asset retirement obligations and other environmental liabilities also included $108 million in current liabilities (2015 – $116 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 Canadian dollars 2016 2015 Balance as at January 1 1,571 1,292 Additions (Deductions) (160) 250 Reductions due to property sales - (12) Accretion 97 84 Settlement (36) (43) Balance as at December 31 1,472 1,571

Derivatives and financial instr

Derivatives and financial instruments	12 Months Ended
	Dec. 31, 2016
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 routinely reviews its position on derivatives and 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, 2016
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. The nonemployee directors also participate in share-based incentive compensation programs. 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 value of one common share of the company, based on the five-day The deferred share unit plan is made available to nonemployee directors. The nonemployee directors can elect to receive all or part of their eligible 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 (“average closing price”) 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 termination of service as a director, including termination due to death, and must be exercised in their entirety in one election no later than December 31 of the year following the year of termination of service. On the exercise date, the cash value to be received for the units is determined based on the average closing price 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 on the seventh year anniversary of the grant date. For units where 50 percent are exercisable the fifth anniversary of the grant date and the remainder exercisable on either the tenth anniversary of grant, or 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, 2016: Restricted Deferred Outstanding at January 1, 2016 7,504,493 121,369 Granted 815,870 14,808 Exercised (1,623,337 ) - Forfeited and cancelled (34,900 ) - Outstanding at December 31, 2016 6,662,126 136,177 In 2016, the compensation expense charged against income for these programs was $59 million (2015 - $35 million, 2014 - $90 million). Income tax benefit recognized in income related to compensation expense for the year was $24 million (2015 - $13 million, 2014 - $31 million). Cash payments of $79 million were made for these programs in 2016 (2015 - $78 million, 2014 - $94 million). As of December 31, 2016, there was $123 million of total before-tax non-vested non-vested

Investment and other income

Investment and other income	12 Months Ended
	Dec. 31, 2016
Investment and other income	8. Investment and other income Investment and other income includes gains and losses on asset sales as follows: millions of Canadian dollars 2016 2015 2014 Proceeds from asset sales 3,021 142 851 Book value of assets sold 777 45 155 Gain (loss) on asset sales, before tax (a) (b) 2,244 97 696 Gain (loss) on asset sales, after tax (a) (b) 1,908 79 526 (a) 2016 included a gain of $2.0 billion ($1.7 billion, after tax) from the sale of company-owned Esso-branded retail sites; and a gain of $161 million ($134 million, after tax) for the sale of Imperial’s general aviation business. (b) 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. On December 20, 2016, the company entered into an agreement which will result in the sale and transition of the Port Credit refinery land. The sale, subject to final closing adjustments and other closing conditions, is expected to close in the first half of 2017.

Litigation and other contingenc

Litigation and other contingencies	12 Months Ended
	Dec. 31, 2016
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 As a result of the completed sale of Imperial’s remaining company-owned Esso retail sites, the company was contingently liable at December 31, 2016, for guarantees relating to performance under contracts of other third-party obligations totaling $49 million.

Common shares

Common shares	12 Months Ended
	Dec. 31, 2016
Common shares	10. Common shares thousands of shares As at Dec 31 2016 As at Dec 31 2015 Authorized 1,100,000 1,100,000 From 1995 through 2016 the company purchased shares under twenty-one 12-month 12-month 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, 2014 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 Issued under employee share-based awards 1 - Purchases at stated value (1) - Balance as at December 31, 2016 847,599 1,566 The following table provides the calculation of basic and diluted earnings per share: 2016 2015 2014 Net income (loss) per common share – basic Net income (loss) (millions of Canadian dollars) 2,165 1,122 3,785 Weighted average number of common shares outstanding (millions of shares) 847.6 847.6 847.6 Net income (loss) per common share (dollars) 2.55 1.32 4.47 Net income (loss) per common share - diluted Net income (loss) (millions of Canadian dollars) 2,165 1,122 3,785 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) 2.9 3.0 3.0 Weighted average number of common shares outstanding, assuming dilution (millions of shares) 850.5 850.6 850.6 Net income (loss) per common share (dollars) 2.55 1.32 4.45

Miscellaneous financial informa

Miscellaneous financial information	12 Months Ended
	Dec. 31, 2016
Miscellaneous financial information	11. Miscellaneous financial information In 2016, net income included an after-tax last-in, first-out year-end millions of Canadian dollars 2016 2015 Crude oil 558 690 Petroleum products 300 443 Chemical products 51 51 Natural gas and other 40 6 Total inventories of crude oil and products 949 1,190 Net research and development costs charged to expenses in 2016 were $152 million (2015 – $149 million, 2014 – $128 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 $396 million at December 31, 2016 (2015 – $378 million).

Financing costs and additional

Financing costs and additional notes and loans payable information	12 Months Ended
	Dec. 31, 2016
Financing costs and additional notes and loans payable information	12. Financing costs and additional notes and loans payable information millions of Canadian dollars 2016 2015 2014 Debt-related interest 121 102 82 Capitalized interest (49 ) (68 ) (82) Net interest expense 72 34 - Other interest (7 ) 5 4 Total financing costs (a) 65 39 4 (a) Cash interest payments in 2016 were $73 million (2015 – $74 million, 2014 – $82 million). The weighted average interest rate on short-term borrowings in 2016 was 0.8 percent (2015 – 0.8 percent, 2014 – 1.1 percent). Average effective rate on the long-term borrowings with ExxonMobil in 2016 was 1.0 percent (2015 - 1.0 percent, 2014 - 1.2 percent). As at December 31, 2016, the company had borrowed $75 million under an arrangement with an affiliated company of ExxonMobil that provides for a non-interest In October 2016, the company decreased the amount of its unused committed long-term line of credit from $500 million to $250 million and extended the maturity date to November 2018. In December 2016, the company decreased the amount of its unused committed short-term line of credit from $500 million to $250 million and extended the maturity date to December 2017.

Leased facilities

Leased facilities	12 Months Ended
	Dec. 31, 2016
Leased facilities	13. Leased facilities At December 31, 2016, the company held non-cancelable Payments due by period millions of Canadian dollars 2017 2018 2019 2020 2021 After Total Lease payments under minimum commitments (a) 139 84 45 2 2 3 275 (a) Net rental cost under cancelable and non-cancelable

Long-term debt

Long-term debt	12 Months Ended
	Dec. 31, 2016
Long-term debt	14. Long-term debt millions of Canadian dollars As at As at Long-term debt (a) 4,447 5,952 Capital leases (b) 585 612 Total long-term debt 5,032 6,564 (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. (b) Capital leases are primarily associated with transportation facilities and services agreements. The average imputed rate was 6.9 percent in 2016 (2015 – 5.8 percent). Total capitalized lease obligations also include $27 million in current liabilities (2015 - $28 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 2016, the company decreased its long-term debt by $1,505 million by partially repaying an existing facility with an affiliated company of ExxonMobil.

Accounting for suspended explor

Accounting for suspended exploratory well costs	12 Months Ended
	Dec. 31, 2016
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 Canadian dollars 2016 2015 2014 Balance as at January 1 167 167 173 Additions pending the determination of proved reserves - - 5 Charged to expense (24 ) - - Reclassification to wells, facilities and equipment based on the determination - - (11) Balance as at December 31 143 167 167 Period end capitalized suspended exploratory well costs: millions of Canadian dollars 2016 2015 2014 Capitalized for a period of one year or less - - - Capitalized for a period of between one and ten years 143 167 167 Capitalized for a period of greater than one year 143 167 167 Total 143 167 167 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. 2016 2015 2014 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 1 1 1 Total 1 1 1 Exploration activity on the Horn River project with suspended well costs has been completed and the company continues to evaluate development alternatives to tie into planned infrastructure.

Transactions with related parti

Transactions with related parties	12 Months Ended
	Dec. 31, 2016
Transactions with related parties	16. Transactions with related parties Revenues and expenses of the company also include the results of transactions with affiliated companies of 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. The amounts of purchases and sales by Imperial in 2016, with ExxonMobil, were $2,187 million and $2,315 million respectively. As at December 31, 2016, the company had outstanding long-term loans of $4,447 million (2015 – $5,952 million) and short-term loans of $75 million (2015 – $75 million) from ExxonMobil (see note 14, long-term debt, on page 77 and note 12, financing costs and additional notes and loans payable information, on page 76 for further details). Imperial has other related party transactions not detailed in note 16, as they are not significant.

Other comprehensive income (los

Other comprehensive income (loss) information	12 Months Ended
	Dec. 31, 2016
Other comprehensive income (loss) information	17. Other comprehensive income (loss) information Changes in accumulated other comprehensive income (loss): millions of Canadian dollars 2016 2015 2014 Balance at January 1 (1,828 ) (2,059 ) (1,721) Post-retirement benefits liability adjustment: Current period change excluding amounts reclassified from accumulated other comprehensive income (210 ) 64 (483) Amounts reclassified from accumulated other comprehensive income 141 167 145 Balance at December 31 (1,897 ) (1,828 ) (2,059) Amounts reclassified out of accumulated other comprehensive income (loss) - before-tax millions of Canadian dollars 2016 2015 2014 Amortization of post-retirement benefits liability adjustment included in (184 ) (228 ) (196) (a) This accumulated other comprehensive income component is included in the computation of net periodic benefit cost (note 4). Income tax expense (credit) for components of other comprehensive income (loss): millions of Canadian dollars 2016 2015 2014 Post-retirement benefits liability adjustments: Post-retirement benefits liability adjustment (excluding amortization) (77 ) 24 (169) Amortization of post-retirement benefits liability adjustment included in 43 61 51 Total (34 ) 85 (118)

Summary of significant accoun27

Summary of significant accounting policies (Policies)	12 Months Ended
	Dec. 31, 2016
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 ULC. 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 first-in, first-out 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 These investments represent interests in non-publicly
Property, plant and equipment	Property, plant and equipment Cost basis Imperial uses the “successful efforts” method to account for its exploration and production activities. Under this method, costs are accumulated on a field-by-field 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. Depreciation, depletion and amortization Depreciation, depletion and amortization are primarily determined under either the unit-of-production Acquisition costs of proved properties are amortized using a unit-of-production unit-of-production unit-of-production unit-of-production Under the SEC definition of proved reserves, certain quantities of bitumen no longer qualified as proved reserves at year-end de-booked unit-of-production Investments in refinery, chemical process, and lubes basestock manufacturing equipment are generally depreciated on a straight-line basis over a 25-year Impairment assessment The company tests assets or groups of assets for recoverability whenever events or circumstances indicate that the carrying amounts may not be recoverable. Among the events or changes in circumstances which could indicate that the carrying value of an asset or asset group may not be recoverable are the following: ● 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 the company’s current and projected reserve volumes; ● A significant adverse change in legal factors or in the business climate that could affect the value, including a significant 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, Imperial does not view temporarily low prices or margins as an indication of impairment. Management does not believe that lower prices are sustainable if energy is to be delivered with supply security to meet global demand over the long term. 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. Because the lifespans of the company’s major assets are measured in decades, the value of these assets is predominantly based on long-term views of future commodity prices and production costs. During the lifespan of these major assets, the company expects that oil and gas prices will experience significant volatility, and consequently these assets will experience periods of higher earnings and periods of lower earnings, or even losses. In assessing whether the events or changes in circumstances indicate the carrying value of an asset may not be recoverable, the company considers recent periods of operating losses in the context of its longer-term view of prices. While near-term prices are subject to wide fluctuations, longer term price views are more stable and meaningful for purposes of assessing future cash flows. When the industry experiences a prolonged and deep reduction in commodity prices, the market supply and demand conditions may result in changes to the company’s long-term price or margin assumptions it uses for its capital investment decisions. To the extent those changes result in a significant reduction in the mid-point In the upstream, the standardized measure of discounted cash flows included in the “Supplemental information on oil and gas exploration and production activities” is required to use prices based on the average of first-of-month If events or circumstances indicate that the carrying value may not be recoverable, the company estimates the future undiscounted cash flows of the affected properties to judge the recoverability of carrying amounts. In performing this assessment, 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. Cash flows used in recoverability assessments are based on the company’s assumptions which are developed in the annual planning and budgeting process, and are consistent with the criteria management uses to evaluate investment opportunities. These evaluations make use of the company’s assumption of future crude oil and natural gas commodity prices, refining and chemical margins, volumes, costs, and foreign currency exchange rates. Volumes are based on projected field and facility production profiles, throughput, or sales. Where unproved reserves exist, an appropriately risk-adjusted amount of these reserves may be included in the evaluation. An asset group is impaired if its undiscounted cash flows are less than the asset group’s carrying value. Impairments are measured by the amount by which the carrying value exceeds fair value. Fair value is based on market prices if an active market exists for the asset group or discounted cash flows using a discount rate commensurate with the risk. Significant unproved properties are assessed for impairment individually, and valuation allowances against the capitalized costs would be 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. 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 incurred to finance expenditures during the construction phase of multiyear projects are capitalized as part of property, plant and equipment and are depreciated over the service life of the related assets. 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, marketing and office 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 reduced by possible recoveries from third parties and projected cash expenditures 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 72 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 Financial Accounting Standards Board (FASB) issued a new standard, Revenue from Contracts with Customers. In February 2016, the FASB issued a new standard, Leases Effective September 30, 2016, Imperial early adopted Accounting Standards Update (ASU) no. 2015-17 Balance sheet classification of deferred taxes non-current, non-current. The balance sheet classification of deferred income tax assets / (liabilities) are shown below. millions of Canadian dollars As at Dec 31 As at Dec 31 2015 Deferred income tax assets - 272 Other assets, including intangibles, net 57 - Accounts payable and accrued liabilities - (41) Deferred income tax liabilities (4,062) (4,191) Net deferred tax liabilities (4,005) (3,960)

Summary of significant accoun28

Summary of significant accounting policies (Tables)	12 Months Ended
	Dec. 31, 2016
Accounting Standards Update 2015-17
Balance Sheet Classification of Deferred Income Tax Assets / (Liabilities)	The balance sheet classification of deferred income tax assets / (liabilities) are shown below. millions of Canadian dollars As at Dec 31 As at Dec 31 2015 Deferred income tax assets - 272 Other assets, including intangibles, net 57 - Accounts payable and accrued liabilities - (41) Deferred income tax liabilities (4,062) (4,191) Net deferred tax liabilities (4,005) (3,960)

Business segments (Tables)

Business segments (Tables)	12 Months Ended
	Dec. 31, 2016
Business Segments	Upstream Downstream Chemical millions of Canadian dollars 2016 2015 2014 2016 2015 2014 2016 2015 2014 Revenues and other income Operating revenues (a) 5,492 5,776 8,408 18,511 19,796 26,400 1,046 1,184 1,423 Intersegment sales 2,215 2,486 4,087 1,007 1,019 1,359 212 234 381 Investment and other income (note 8) 13 22 667 2,278 104 65 - - - 7,720 8,284 13,162 21,796 20,919 27,824 1,258 1,418 1,804 Expenses Exploration (note 15) 94 73 67 - - - - - - Purchases of crude oil and products 3,666 3,768 5,628 14,178 14,526 21,476 705 725 1,196 Production and manufacturing 3,591 3,766 3,882 1,428 1,461 1,564 205 207 216 Selling and general (5 ) (2 ) 3 972 986 887 83 87 70 Federal excise tax - - - 1,650 1,568 1,562 - - - Depreciation and depletion 1,396 1,193 857 206 233 216 10 11 12 Financing costs (note 12) (7 ) 5 4 - - - - - - Total expenses 8,735 8,803 10,441 18,434 18,774 25,705 1,003 1,030 1,494 Income (loss) before income taxes (1,015 ) (519 ) 2,721 3,362 2,145 2,119 255 388 310 Income taxes Current (491 ) (77 ) (219 ) 674 476 296 68 97 76 Deferred 137 262 881 (66 ) 83 229 - 4 5 Total income tax expense (354 ) 185 662 608 559 525 68 101 81 Net income (loss) (661 ) (704 ) 2,059 2,754 1,586 1,594 187 287 229 Cash flows from (used in) operating activities 402 224 2,519 1,574 1,686 1,666 203 383 250 Capital and exploration expenditures 896 3,135 4,974 190 340 572 26 52 26 Property, plant and equipment Cost 45,850 45,171 42,142 6,166 7,596 7,460 872 857 798 Accumulated depreciation and depletion (12,312 ) (11,016 ) (10,103 ) (4,037 ) (4,584 ) (4,459 ) (629 ) (616 ) (601 ) Net property, plant and equipment 33,538 34,155 32,039 2,129 3,012 3,001 243 241 197 Total assets 36,840 36,971 34,421 3,958 5,574 5,823 346 394 372 Corporate and Other Eliminations Consolidated millions of Canadian dollars 2016 2015 2014 2016 2015 2014 2016 2015 2014 Revenues and other income Operating revenues (a) - - - - - - 25,049 26,756 36,231 Intersegment sales - - - (3,434 ) (3,739 ) (5,827 ) - - - Investment and other income (note 8) 14 6 3 - - - 2,305 132 735 14 6 3 (3,434 ) (3,739 ) (5,827 ) 27,354 26,888 36,966 Expenses Exploration (note 15) - - - - - - 94 73 67 Purchases of crude oil and products - - - (3,429 ) (3,735 ) (5,821 ) 15,120 15,284 22,479 Production and manufacturing - - - - - - 5,224 5,434 5,662 Selling and general 84 50 121 (5 ) (4 ) (6 ) 1,129 1,117 1,075 Federal excise tax - - - - - - 1,650 1,568 1,562 Depreciation and depletion 16 13 11 - - - 1,628 1,450 1,096 Financing costs (note 12) 72 34 - - - - 65 39 4 Total expenses 172 97 132 (3,434 ) (3,739 ) (5,827 ) 24,910 24,965 31,945 Income (loss) before income taxes (158 ) (91 ) (129 ) - - - 2,444 1,923 5,021 Income taxes Current (51 ) (45 ) (47 ) - - - 200 451 106 Deferred 8 1 15 - - - 79 350 1,130 Total income tax expense (43 ) (44 ) (32 ) - - - 279 801 1,236 Net income (loss) (115 ) (47 ) (97 ) - - - 2,165 1,122 3,785 Cash flows from (used in) operating activities (143 ) (124 ) (30 ) (21 ) (2 ) - 2,015 2,167 4,405 Capital and exploration expenditures 49 68 82 - - - 1,161 3,595 5,654 Property, plant and equipment Cost 627 579 511 - - - 53,515 54,203 50,911 Accumulated depreciation and depletion (204 ) (188 ) (174 ) - - - (17,182 ) (16,404 ) (15,337 ) Net property, plant and equipment 423 391 337 - - - 36,333 37,799 35,574 Total assets 894 579 565 (384 ) (348 ) (351 ) 41,654 43,170 40,830 (a) Includes export sales to the United States of $3,612 million (2015 - $4,157 million, 2014 - $5,940 million). Export sales to the United States were recorded in all operating segments, with the largest effects in the Upstream segment. (b) Capital and exploration expenditures (CAPEX) include exploration expenses, additions to property, plant and equipment, additions to capital leases, additional investments and acquisitions. (c) Includes property, plant and equipment under construction of $2,705 million (2015 - $3,719 million).

Income taxes (Tables)

Income taxes (Tables)	12 Months Ended
	Dec. 31, 2016
Summary of Income Tax Expense (Benefit)	millions of Canadian dollars 2016 2015 2014 Current income tax expense (a) 200 451 106 Deferred income tax expense (a) (b) 79 350 1,130 Total income tax expense (a) (c) 279 801 1,236 Statutory corporate tax rate (percent) 26.8 27.2 25.5 Increase (decrease) resulting from: Disposals (d) (11.6 ) (0.4 ) (0.1 ) Enacted tax rate change (a) - 16.1 - Other (3.8 ) (1.2 ) (0.8 ) Effective income tax rate 11.4 41.7 24.6 (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 2016. (c) Cash outflow from income taxes, plus investment credits earned, was $172 million (2015 - $202 million, 2014 - $811 million). (d) 2016 disposals are primarily associated with the sales of company-owned Esso retail sites and the general aviation business. Capital gains tax treatment was applied on the majority of disposals.
Components of Deferred Income Tax Liabilities and Assets	Components of deferred income tax liabilities and assets as at December 31 were: millions of Canadian dollars 2016 2015 2014 Depreciation and amortization 5,361 4,677 3,777 Successful drilling and land acquisitions 891 922 827 Pension and benefits (457 ) (396 ) (438 ) Asset retirement obligation (396 ) (406 ) (304 ) Capitalized interest 114 104 82 LIFO inventory valuation (a) (240 ) - - Tax loss carryforwards (1,056 ) (610 ) (30 ) Other (a) (212 ) (100 ) (73 ) Net long-term deferred income tax liabilities 4,005 4,191 3,841 LIFO inventory valuation (a) - (112 ) (201 ) Other (a) - (160 ) (113 ) Net current deferred income tax assets - (272 ) (314 ) Net current deferred income tax liabilities (a) - 41 - Net deferred income tax liabilities 4,005 3,960 3,527 (a) Per ASU 2015-17, non-current.
Unrecognized Tax Benefits	The following table summarizes the movement in unrecognized tax benefits: millions of Canadian dollars 2016 2015 2014 Balance as of January 1 132 151 151 Additions based on current year’s tax position - - 4 Additions for prior years’ tax position 2 10 - Reductions for prior years’ tax positions (23 ) (29 ) (4 ) Reductions due to lapse of the statute of limitations (5 ) - - Balance as of December 31 106 132 151

Employee retirement benefits (T

Employee retirement benefits (Tables)	12 Months Ended
	Dec. 31, 2016
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 2016 2015 2016 2015 Assumptions used to determine benefit obligations Discount rate 3.75 4.00 3.75 4.00 Long-term rate of compensation increase 4.50 4.50 4.50 4.50 millions of Canadian dollars Change in projected benefit obligation Projected benefit obligation at January 1 8,147 7,970 642 634 Current service cost 203 211 16 15 Interest cost 319 307 27 25 Actuarial loss (gain) 157 114 46 (2 ) Benefits paid (a) (470 ) (455 ) (25 ) (30 ) Projected benefit obligation at December 31 8,356 8,147 706 642 Accumulated benefit obligation at December 31 7,681 7,506
Change in Plan Assets of Pension and Other Postretirement Benefits	Pension benefits Other post-retirement benefits millions of Canadian dollars 2016 2015 2016 2015 Change in plan assets Fair value at January 1 7,260 6,807 Actual return (loss) on plan assets 316 592 Company contributions 163 225 Benefits paid (b) (380 ) (364 ) Fair value at December 31 7,359 7,260 Plan assets in excess of (less than) projected benefit obligation Funded plans (444 ) (300 ) Unfunded plans (553 ) (587 ) (706 ) (642 ) Total (c) (997 ) (887 ) (706 ) (642 ) (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 benefits millions of Canadian dollars 2016 2015 2016 2015 Amounts recorded in the consolidated balance sheet consist of: Current liabilities (29 ) (30 ) (29 ) (29 ) Other long-term obligations (968 ) (857 ) (677 ) (613 ) Total recorded (997 ) (887 ) (706 ) (642 ) Amounts recorded in accumulated other comprehensive Net actuarial loss (gain) 2,461 2,382 197 164 Prior service cost 14 23 - - Total recorded in accumulated other comprehensive income, before tax 2,475 2,405 197 164
Assumptions Used to Determine Periodic Benefit Cost	Pension benefits Other post-retirement benefits millions of Canadian dollars 2016 2015 2014 2016 2015 2014 Assumptions used to determine net periodic benefit cost for years ended December 31 (percent) Discount rate 4.00 3.75 4.75 4.00 3.75 4.75 Long-term rate of return on funded assets 5.50 5.75 6.25 - - - Long-term rate of compensation increase 4.50 4.50 4.50 4.50 4.50 4.50 millions of Canadian dollars Components of net periodic benefit cost Current service cost 203 211 152 16 15 9 Interest cost 319 307 322 27 25 26 Expected return on plan assets (400 ) (392 ) (369 ) - - - Amortization of prior service cost 9 16 23 - - - Amortization of actuarial loss (gain) 162 198 166 13 14 7 Net periodic benefit cost 293 340 294 56 54 42 Changes in amounts recorded in accumulated other comprehensive income Net actuarial loss (gain) 241 (86 ) 529 46 (2 ) 123 Amortization of net actuarial (loss) gain included (162 ) (198 ) (166 ) (13 ) (14 ) (7 ) Amortization of prior service cost included in net periodic benefit cost (9 ) (16 ) (23 ) - - - Total recorded in other comprehensive income 70 (300 ) 340 33 (16 ) 116 Total recorded in net periodic benefit cost and other comprehensive income, before tax 363 40 634 89 38 158
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 Canadian dollars 2016 2015 2014 (Charge) credit to other comprehensive income, before tax (103 ) 316 (456 ) Deferred income tax (charge) credit (note 17) 34 (85 ) 118 (Charge) credit to other comprehensive income, after tax (69 ) 231 (338 )
Fair Value of Pension Plan Assets Including Level within Fair Value Hierarchy	The 2016 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, 2016, using: millions of Canadian dollars Total Level 1 Level 2 Level 3 Net Asset Value (a) Asset class Equity securities - - Canadian 433 433 Non-Canadian 2,448 2,448 Debt securities - Canadian Corporate 988 988 Government 3,218 3,218 Asset backed - - Equities – Venture capital 241 241 Cash 31 6 25 Total plan assets at fair value 7,359 6 - - 7,353 (a) Per ASU 2015-07, 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 Canadian dollars Total Level 1 Level 2 Level 3 Net Asset Value (a) Asset class Equity securities Canadian 469 469 Non-Canadian 2,267 2,267 Debt securities - Canadian Corporate 984 984 Government 3,251 3,251 Asset backed 4 4 Equities – Venture capital 272 272 Cash 13 13 Total plan assets at fair value 7,260 13 - - 7,247 (a) Per ASU 2015-07, re-categorized
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 Canadian dollars 2016 2015 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 553 587 Accumulated benefit obligation 525 560
Estimated 2017 Amortization from Accumulated Other Comprehensive Income	Estimated 2017 amortization from accumulated other comprehensive income millions of Canadian dollars Pension benefits Other post-retirement benefits Net actuarial loss (gain) (a) 179 14 Prior service cost (b) 11 - (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 Canadian dollars Pension benefits Other post-retirement benefits 2017 420 30 2018 425 31 2019 435 31 2020 440 32 2021 440 33 2022 - 2026 2,201 175
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 Canadian dollars One percent increase One percent decrease Rate of return on plan assets: Effect on net benefit cost, before tax (70) 70 Discount rate: Effect on net benefit cost, before tax (90) 110 Effect on benefit obligation (1,135) 1,455 Rate of pay increases: Effect on net benefit cost, before tax 50 (40) Effect on benefit obligation 230 (195)
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 Canadian dollars One percent increase One percent decrease Effect on service and interest cost components 7 (5) Effect on benefit obligation 85 (70)

Other long-term obligations (Ta

Other long-term obligations (Tables)	12 Months Ended
	Dec. 31, 2016
Other Long-Term Obligations	millions of Canadian dollars 2016 2015 Employee retirement benefits (a) (note 4) 1,645 1,470 Asset retirement obligations and other environmental liabilities (b) 1,544 1,628 Share-based incentive compensation liabilities (note 7) 139 134 Other obligations 328 365 Total other long-term obligations 3,656 3,597 (a) Total recorded employee retirement benefits obligations also included $58 million in current liabilities (2015 – $59 million). (b) Total asset retirement obligations and other environmental liabilities also included $108 million in current liabilities (2015 – $116 million).
Schedule of Asset Retirement Obligations	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 Canadian dollars 2016 2015 Balance as at January 1 1,571 1,292 Additions (Deductions) (160) 250 Reductions due to property sales - (12) Accretion 97 84 Settlement (36) (43) Balance as at December 31 1,472 1,571

Share-based incentive compens33

Share-based incentive compensation programs (Tables)	12 Months Ended
	Dec. 31, 2016
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, 2016: Restricted Deferred Outstanding at January 1, 2016 7,504,493 121,369 Granted 815,870 14,808 Exercised (1,623,337 ) - Forfeited and cancelled (34,900 ) - Outstanding at December 31, 2016 6,662,126 136,177

Investment and other income (Ta

Investment and other income (Tables)	12 Months Ended
	Dec. 31, 2016
Gains and Losses on Asset Sales	Investment and other income includes gains and losses on asset sales as follows: millions of Canadian dollars 2016 2015 2014 Proceeds from asset sales 3,021 142 851 Book value of assets sold 777 45 155 Gain (loss) on asset sales, before tax (a) (b) 2,244 97 696 Gain (loss) on asset sales, after tax (a) (b) 1,908 79 526 (a) 2016 included a gain of $2.0 billion ($1.7 billion, after tax) from the sale of company-owned Esso-branded retail sites; and a gain of $161 million ($134 million, after tax) for the sale of Imperial’s general aviation business. (b) 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.

Common shares (Tables)

Common shares (Tables)	12 Months Ended
	Dec. 31, 2016
Summary of Common Shares	thousands of shares As at Dec 31 2016 As at Dec 31 2015 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, 2014 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 Issued under employee share-based awards 1 - Purchases at stated value (1) - Balance as at December 31, 2016 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: 2016 2015 2014 Net income (loss) per common share – basic Net income (loss) (millions of Canadian dollars) 2,165 1,122 3,785 Weighted average number of common shares outstanding (millions of shares) 847.6 847.6 847.6 Net income (loss) per common share (dollars) 2.55 1.32 4.47 Net income (loss) per common share - diluted Net income (loss) (millions of Canadian dollars) 2,165 1,122 3,785 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) 2.9 3.0 3.0 Weighted average number of common shares outstanding, assuming dilution (millions of shares) 850.5 850.6 850.6 Net income (loss) per common share (dollars) 2.55 1.32 4.45

Miscellaneous financial infor36

Miscellaneous financial information (Tables)	12 Months Ended
	Dec. 31, 2016
Inventories of Crude Oil and Products	Inventories of crude oil and products at year-end millions of Canadian dollars 2016 2015 Crude oil 558 690 Petroleum products 300 443 Chemical products 51 51 Natural gas and other 40 6 Total inventories of crude oil and products 949 1,190

Financing costs and additiona37

Financing costs and additional notes and loans payable information (Tables)	12 Months Ended
	Dec. 31, 2016
Schedule Of Financing Costs	millions of Canadian dollars 2016 2015 2014 Debt-related interest 121 102 82 Capitalized interest (49 ) (68 ) (82) Net interest expense 72 34 - Other interest (7 ) 5 4 Total financing costs (a) 65 39 4 (a) Cash interest payments in 2016 were $73 million (2015 – $74 million, 2014 – $82 million). The weighted average interest rate on short-term borrowings in 2016 was 0.8 percent (2015 – 0.8 percent, 2014 – 1.1 percent). Average effective rate on the long-term borrowings with ExxonMobil in 2016 was 1.0 percent (2015 - 1.0 percent, 2014 - 1.2 percent).

Leased facilities (Tables)

Leased facilities (Tables)	12 Months Ended
	Dec. 31, 2016
Schedule of Operating Leases	At December 31, 2016, the company held non-cancelable Payments due by period millions of Canadian dollars 2017 2018 2019 2020 2021 After Total Lease payments under minimum commitments (a) 139 84 45 2 2 3 275 (a) Net rental cost under cancelable and non-cancelable

Long-term debt (Tables)

Long-term debt (Tables)	12 Months Ended
	Dec. 31, 2016
Long-Term Debt	millions of Canadian dollars As at As at Long-term debt (a) 4,447 5,952 Capital leases (b) 585 612 Total long-term debt 5,032 6,564 (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. (b) Capital leases are primarily associated with transportation facilities and services agreements. The average imputed rate was 6.9 percent in 2016 (2015 – 5.8 percent). Total capitalized lease obligations also include $27 million in current liabilities (2015 - $28 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, 2016
Change in Capitalized Suspended Exploratory Well Costs	Change in capitalized suspended exploratory well costs: millions of Canadian dollars 2016 2015 2014 Balance as at January 1 167 167 173 Additions pending the determination of proved reserves - - 5 Charged to expense (24 ) - - Reclassification to wells, facilities and equipment based on the determination - - (11) Balance as at December 31 143 167 167
Schedule of Aging of Capitalized Exploratory Well Costs	Period end capitalized suspended exploratory well costs: millions of Canadian dollars 2016 2015 2014 Capitalized for a period of one year or less - - - Capitalized for a period of between one and ten years 143 167 167 Capitalized for a period of greater than one year 143 167 167 Total 143 167 167
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. 2016 2015 2014 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 1 1 1 Total 1 1 1

Other comprehensive income (l41

Other comprehensive income (loss) information (Tables)	12 Months Ended
	Dec. 31, 2016
Changes in Accumulated Other Comprehensive Income (Loss)	Changes in accumulated other comprehensive income (loss): millions of Canadian dollars 2016 2015 2014 Balance at January 1 (1,828 ) (2,059 ) (1,721) Post-retirement benefits liability adjustment: Current period change excluding amounts reclassified from accumulated other comprehensive income (210 ) 64 (483) Amounts reclassified from accumulated other comprehensive income 141 167 145 Balance at December 31 (1,897 ) (1,828 ) (2,059)
Amounts Reclassified Out of Accumulated Other Comprehensive Income (Loss) - Before-Tax Income (Expense)	Amounts reclassified out of accumulated other comprehensive income (loss) - before-tax millions of Canadian dollars 2016 2015 2014 Amortization of post-retirement benefits liability adjustment included in (184 ) (228 ) (196) (a) This accumulated other comprehensive income component is included in the computation of net periodic benefit cost (note 4).
Income Tax Expense (Credit) for Components of Other Comprehensive Income (Loss)	Income tax expense (credit) for components of other comprehensive income (loss): millions of Canadian dollars 2016 2015 2014 Post-retirement benefits liability adjustments: Post-retirement benefits liability adjustment (excluding amortization) (77 ) 24 (169) Amortization of post-retirement benefits liability adjustment included in 43 61 51 Total (34 ) 85 (118)

Summary of Significant Accoun42

Summary of Significant Accounting Policies - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2016
Significant Accounting Policies [Line Items]
Amortization of computer software development costs, in years	15 years
Amortization of customer lists, in years	10 years
Refinery Chemical Process And Lubes Basestock Manufacturing Equipment
Significant Accounting Policies [Line Items]
Property plant and equipment, useful life	25 years
Maximum | Mining Heavy Equipment
Significant Accounting Policies [Line Items]
Property plant and equipment, useful life	15 years
Maximum | Ore Processing Plant Assets
Significant Accounting Policies [Line Items]
Property plant and equipment, useful life	50 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%

Balance Sheet Classification of

Balance Sheet Classification of Deferred Income Tax Asset / (Liabilities) (Detail) - CAD CAD in Millions		Dec. 31, 2016	Dec. 31, 2015		Dec. 31, 2014
New Accounting Pronouncement, Early Adoption [Line Items]
Deferred income tax assets			CAD (272)	[1]	CAD (314)
Deferred income tax liabilities, current	[2]		(41)
Deferred income tax liabilities	[1]	CAD (4,062)	(4,191)
Net deferred tax liabilities		(4,005)	(3,960)		CAD (3,527)
Accounting Standards Update 2015-17
New Accounting Pronouncement, Early Adoption [Line Items]
Deferred income tax assets			272
Deferred income tax liabilities		(4,062)	(4,191)
Net deferred tax liabilities		(4,005)	(3,960)
Accounting Standards Update 2015-17 | Other assets, including intangibles, net
New Accounting Pronouncement, Early Adoption [Line Items]
Deferred income tax asset, noncurrent		CAD 57
Accounting Standards Update 2015-17 | Accounts payable and accrued liabilities
New Accounting Pronouncement, Early Adoption [Line Items]
Deferred income tax liabilities, current			CAD (41)
[1]	Per ASU 2015-17, deferred tax assets and liabilities have been prospectively classified as non-current. Prior periods were not restated (note 1).
[2]	Per ASU 2015-17, deferred tax assets and liabilities have been prospectively classified as non-current. Prior periods were not restated (note 1). 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.

Business Segments (Detail)

Business Segments (Detail) - CAD CAD in Millions		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenues and other income
Operating revenues	[1],[2],[3]	CAD 25,049	CAD 26,756	CAD 36,231
Investment and other income (note 8)		2,305	132	735
Total revenues and other income		27,354	26,888	36,966
Expenses
Exploration (note 15)		94	73	67
Purchases of crude oil and products	[4]	15,120	15,284	22,479
Production and manufacturing	[5]	5,224	5,434	5,662
Selling and general	[5]	1,129	1,117	1,075
Federal excise tax	[2]	1,650	1,568	1,562
Depreciation and depletion		1,628	1,450	1,096
Financing costs (note 12)	[6]	65	39	4
Total expenses		24,910	24,965	31,945
Income (loss) before income taxes		2,444	1,923	5,021
Income taxes (note 3)
Current	[7]	200	451	106
Deferred	[7],[8]	79	350	1,130
Total income tax expense	[7],[9]	279	801	1,236
Net income (loss)		2,165	1,122	3,785
Cash flows from (used in) operating activities		2,015	2,167	4,405
Capital and exploration expenditures	[10]	1,161	3,595	5,654
Property, plant and equipment Cost		53,515	54,203	50,911
Accumulated depreciation and depletion		(17,182)	(16,404)	(15,337)
Net property, plant and equipment	[11]	36,333	37,799	35,574
Total assets		41,654	43,170	40,830
Upstream
Revenues and other income
Operating revenues	[3]	5,492	5,776	8,408
Intersegment sales		2,215	2,486	4,087
Investment and other income (note 8)		13	22	667
TOTAL OPERATING REVENUES, INTERSEGMENT SALES, INVESTMENT AND OTHER INCOME		7,720	8,284	13,162
Expenses
Exploration (note 15)		94	73	67
Purchases of crude oil and products		3,666	3,768	5,628
Production and manufacturing		3,591	3,766	3,882
Selling and general		(5)	(2)	3
Depreciation and depletion		1,396	1,193	857
Financing costs (note 12)		(7)	5	4
Total expenses		8,735	8,803	10,441
Income (loss) before income taxes		(1,015)	(519)	2,721
Income taxes (note 3)
Current		(491)	(77)	(219)
Deferred		137	262	881
Total income tax expense		(354)	185	662
Net income (loss)		(661)	(704)	2,059
Cash flows from (used in) operating activities		402	224	2,519
Capital and exploration expenditures	[10]	896	3,135	4,974
Property, plant and equipment Cost		45,850	45,171	42,142
Accumulated depreciation and depletion		(12,312)	(11,016)	(10,103)
Net property, plant and equipment	[11]	33,538	34,155	32,039
Total assets		36,840	36,971	34,421
Downstream
Revenues and other income
Operating revenues	[3]	18,511	19,796	26,400
Intersegment sales		1,007	1,019	1,359
Investment and other income (note 8)		2,278	104	65
TOTAL OPERATING REVENUES, INTERSEGMENT SALES, INVESTMENT AND OTHER INCOME		21,796	20,919	27,824
Expenses
Purchases of crude oil and products		14,178	14,526	21,476
Production and manufacturing		1,428	1,461	1,564
Selling and general		972	986	887
Federal excise tax		1,650	1,568	1,562
Depreciation and depletion		206	233	216
Total expenses		18,434	18,774	25,705
Income (loss) before income taxes		3,362	2,145	2,119
Income taxes (note 3)
Current		674	476	296
Deferred		(66)	83	229
Total income tax expense		608	559	525
Net income (loss)		2,754	1,586	1,594
Cash flows from (used in) operating activities		1,574	1,686	1,666
Capital and exploration expenditures	[10]	190	340	572
Property, plant and equipment Cost		6,166	7,596	7,460
Accumulated depreciation and depletion		(4,037)	(4,584)	(4,459)
Net property, plant and equipment	[11]	2,129	3,012	3,001
Total assets		3,958	5,574	5,823
Chemical
Revenues and other income
Operating revenues	[3]	1,046	1,184	1,423
Intersegment sales		212	234	381
TOTAL OPERATING REVENUES, INTERSEGMENT SALES, INVESTMENT AND OTHER INCOME		1,258	1,418	1,804
Expenses
Purchases of crude oil and products		705	725	1,196
Production and manufacturing		205	207	216
Selling and general		83	87	70
Depreciation and depletion		10	11	12
Total expenses		1,003	1,030	1,494
Income (loss) before income taxes		255	388	310
Income taxes (note 3)
Current		68	97	76
Deferred			4	5
Total income tax expense		68	101	81
Net income (loss)		187	287	229
Cash flows from (used in) operating activities		203	383	250
Capital and exploration expenditures	[10]	26	52	26
Property, plant and equipment Cost		872	857	798
Accumulated depreciation and depletion		(629)	(616)	(601)
Net property, plant and equipment	[11]	243	241	197
Total assets		346	394	372
Corporate and Other
Revenues and other income
Investment and other income (note 8)		14	6	3
TOTAL OPERATING REVENUES, INTERSEGMENT SALES, INVESTMENT AND OTHER INCOME		14	6	3
Expenses
Selling and general		84	50	121
Depreciation and depletion		16	13	11
Financing costs (note 12)		72	34
Total expenses		172	97	132
Income (loss) before income taxes		(158)	(91)	(129)
Income taxes (note 3)
Current		(51)	(45)	(47)
Deferred		8	1	15
Total income tax expense		(43)	(44)	(32)
Net income (loss)		(115)	(47)	(97)
Cash flows from (used in) operating activities		(143)	(124)	(30)
Capital and exploration expenditures	[10]	49	68	82
Property, plant and equipment Cost		627	579	511
Accumulated depreciation and depletion		(204)	(188)	(174)
Net property, plant and equipment	[11]	423	391	337
Total assets		894	579	565
Consolidation, Eliminations
Revenues and other income
Intersegment sales		(3,434)	(3,739)	(5,827)
TOTAL OPERATING REVENUES, INTERSEGMENT SALES, INVESTMENT AND OTHER INCOME		(3,434)	(3,739)	(5,827)
Expenses
Purchases of crude oil and products		(3,429)	(3,735)	(5,821)
Selling and general		(5)	(4)	(6)
Total expenses		(3,434)	(3,739)	(5,827)
Income taxes (note 3)
Cash flows from (used in) operating activities		(21)	(2)
Total assets		CAD (384)	CAD (348)	CAD (351)
[1]	Amounts from related parties included in operating revenues (note 16).* 2,342 3,058 3,358
[2]	Federal excise tax included in operating revenues. 1,650 1,568 1,562
[3]	Includes export sales to the United States of $3,612 million (2015 - $4,157 million, 2014 - $5,940 million). Export sales to the United States were recorded in all operating segments, with the largest effects in the Upstream segment.
[4]	Amounts to related parties included in purchases of crude oil and products (note 16).* 2,224 2,684 3,262
[5]	Amounts to related parties included in production and manufacturing, and selling and general expenses (note 16). 533 442 366
[6]	Cash interest payments in 2016 were $73 million (2015 - $74 million, 2014 - $82 million). The weighted average interest rate on short-term borrowings in 2016 was 0.8 percent (2015 - 0.8 percent, 2014 - 1.1 percent). Average effective rate on the long-term borrowings with ExxonMobil in 2016 was 1.0 percent (2015 - 1.0 percent, 2014 - 1.2 percent).
[7]	On June 30, 2015 the Alberta government enacted a 2 percent increase in the provincial tax rate, from 10 percent to 12 percent.
[8]	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 2016.
[9]	Cash outflow from income taxes, plus investment credits earned, was $172 million (2015 - $202 million, 2014 - $811 million).
[10]	Capital and exploration expenditures (CAPEX) include exploration expenses, additions to property, plant and equipment, additions to capital leases, additional investments and acquisitions.
[11]	Includes property, plant and equipment under construction of $2,705 million (2015 - $3,719 million).

Business Segments (Parenthetica

Business Segments (Parenthetical) (Detail) - CAD CAD in Millions		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting Information [Line Items]
Operating revenues	[1],[2],[3]	CAD 25,049	CAD 26,756	CAD 36,231
Property plant and equipment under construction		2,705	3,719
United States Exports
Segment Reporting Information [Line Items]
Operating revenues		CAD 3,612	CAD 4,157	CAD 5,940
[1]	Amounts from related parties included in operating revenues (note 16).* 2,342 3,058 3,358
[2]	Federal excise tax included in operating revenues. 1,650 1,568 1,562
[3]	Includes export sales to the United States of $3,612 million (2015 - $4,157 million, 2014 - $5,940 million). Export sales to the United States were recorded in all operating segments, with the largest effects in the Upstream segment.

Income Taxes (Detail)

Income Taxes (Detail) - CAD CAD in Millions		Jun. 30, 2015	Dec. 31, 2016	Dec. 31, 2015		Dec. 31, 2014
Schedule Of Income Tax [Line Items]
Current income tax expense	[1]		CAD 200	CAD 451		CAD 106
Deferred income tax expense	[1],[2]		79	350		1,130
Total income tax expense	[1],[3]		CAD 279	CAD 801		CAD 1,236
Statutory corporate tax rate (percent)			26.80%	27.20%		25.50%
Disposals	[4]		(11.60%)	(0.40%)		(0.10%)
Enacted tax rate change		2.00%		16.10%	[1]
Other			(3.80%)	(1.20%)		(0.80%)
Effective income tax rate			11.40%	41.70%		24.60%
[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 2016.
[3]	Cash outflow from income taxes, plus investment credits earned, was $172 million (2015 - $202 million, 2014 - $811 million).
[4]	2016 disposals are primarily associated with the sales of company-owned Esso retail sites and the general aviation business. Capital gains tax treatment was applied on the majority of disposals.

Income Taxes (Parenthetical) (D

Income Taxes (Parenthetical) (Detail) - CAD CAD in Millions	Jun. 30, 2015	Dec. 31, 2016	Dec. 31, 2015		Dec. 31, 2014
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 172	CAD 202		CAD 811
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, 2016	Dec. 31, 2015		Dec. 31, 2014
Components Of Deferred Tax Assets And Liabilities [Line Items]
Depreciation and amortization		CAD 5,361	CAD 4,677		CAD 3,777
Successful drilling and land acquisitions		891	922		827
Pension and benefits		(457)	(396)		(438)
Asset retirement obligation		(396)	(406)		(304)
Capitalized interest		114	104		82
LIFO inventory valuation	[1]	(240)
Tax loss carryforwards		(1,056)	(610)		(30)
Other	[1]	(212)	(100)		(73)
Net long-term deferred income tax liabilities		4,005	4,191		3,841
LIFO inventory valuation	[1]		(112)		(201)
Other	[1]		(160)		(113)
Net current deferred income tax assets			(272)	[2]	(314)
Net current deferred income tax liabilities	[1]		41
Net deferred income tax liabilities		CAD 4,005	CAD 3,960		CAD 3,527
[1]	Per ASU 2015-17, deferred tax assets and liabilities have been prospectively classified as non-current. Prior periods were not restated (note 1). 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.
[2]	Per ASU 2015-17, deferred tax assets and liabilities have been prospectively classified as non-current. Prior periods were not restated (note 1).

Unrecognized Tax Benefits (Deta

Unrecognized Tax Benefits (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Schedule of Unrecognized Tax Benefits [Line Items]
Balance as of January 1	CAD 132	CAD 151	CAD 151
Additions based on current year's tax position			4
Additions for prior years' tax position	2	10
Reductions for prior years' tax positions	(23)	(29)	(4)
Reductions due to lapse of the statute of limitations	(5)
Balance as of December 31	CAD 106	CAD 132	CAD 151

Assumptions Used to Determine B

Assumptions Used to Determine Benefit Obligations (Detail)	Dec. 31, 2016	Dec. 31, 2015
Pension benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.75%	4.00%
Long-term rate of compensation increase	4.50%	4.50%
Other post-retirement benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.75%	4.00%
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, 2016	Dec. 31, 2015	Dec. 31, 2014
Pension benefits
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation at January 1		CAD 8,147	CAD 7,970
Current service cost		203	211	CAD 152
Interest cost		319	307	322
Actuarial loss (gain)		157	114
Benefits paid	[1]	(470)	(455)
Projected benefit obligation at December 31		8,356	8,147	7,970
Accumulated benefit obligation at December 31		7,681	7,506
Other post-retirement benefits
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation at January 1		642	634
Current service cost		16	15	9
Interest cost		27	25	26
Actuarial loss (gain)		46	(2)
Benefits paid	[1]	(25)	(30)
Projected benefit obligation at December 31		CAD 706	CAD 642	CAD 634
[1]	Benefit payments for funded and unfunded plans.

Employee Retirement Benefits -

Employee Retirement Benefits - Additional Information (Detail) - CAD CAD in Millions	Feb. 22, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2016	Dec. 31, 2016
Defined Benefit Plan Disclosure [Line Items]
Long-term expected return		5.50%
Actual rate of return					5.50%	7.70%
Cost for defined contributions plans		CAD 44	CAD 43	CAD 40
Plan assets invested in venture capital partnerships		5.00%
Cash contributions to pension plans in 2017		CAD 217
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, 2016	Dec. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Fair value at January 1		CAD 7,260
Fair value at December 31		7,359	CAD 7,260
Pension benefits
Defined Benefit Plan Disclosure [Line Items]
Fair value at January 1		7,260	6,807
Actual return (loss) on plan assets		316	592
Company contributions		163	225
Benefits paid	[1]	(380)	(364)
Fair value at December 31		7,359	7,260
Funded plans		(444)	(300)
Unfunded plans		(553)	(587)
Total	[2]	(997)	(887)
Other post-retirement benefits
Defined Benefit Plan Disclosure [Line Items]
Unfunded plans		(706)	(642)
Total	[2]	CAD (706)	CAD (642)
[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, 2016	Dec. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Current liabilities		CAD (58)	CAD (59)
Other long-term obligations	[1]	(1,645)	(1,470)
Pension benefits
Defined Benefit Plan Disclosure [Line Items]
Current liabilities		(29)	(30)
Other long-term obligations		(968)	(857)
Total recorded		(997)	(887)
Net actuarial loss (gain)		2,461	2,382
Prior service cost		14	23
Total recorded in accumulated other comprehensive income, before tax		2,475	2,405
Other post-retirement benefits
Defined Benefit Plan Disclosure [Line Items]
Current liabilities		(29)	(29)
Other long-term obligations		(677)	(613)
Total recorded		(706)	(642)
Net actuarial loss (gain)		197	164
Total recorded in accumulated other comprehensive income, before tax		CAD 197	CAD 164
[1]	Total recorded employee retirement benefits obligations also included $58 million in current liabilities (2015 - $59 million).

Assumptions Used to Determine P

Assumptions Used to Determine Periodic Benefit Cost (Detail)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Defined Benefit Plan Disclosure [Line Items]
Long-term rate of return on funded assets	5.50%
Pension benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate	4.00%	3.75%	4.75%
Long-term rate of return on funded assets	5.50%	5.75%	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	4.00%	3.75%	4.75%
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, 2016	Dec. 31, 2015	Dec. 31, 2014
Defined Benefit Plan Disclosure [Line Items]
Total recorded in other comprehensive income	CAD 103	CAD (316)	CAD 456
Pension benefits
Defined Benefit Plan Disclosure [Line Items]
Current service cost	203	211	152
Interest cost	319	307	322
Expected return on plan assets	(400)	(392)	(369)
Amortization of prior service cost	9	16	23
Amortization of actuarial loss (gain)	162	198	166
Net periodic benefit cost	293	340	294
Net actuarial loss (gain)	241	(86)	529
Amortization of net actuarial (loss) gain included in net periodic benefit cost	(162)	(198)	(166)
Amortization of prior service cost included in net periodic benefit cost	(9)	(16)	(23)
Total recorded in other comprehensive income	70	(300)	340
Total recorded in net periodic benefit cost and other comprehensive income, before tax	363	40	634
Other post-retirement benefits
Defined Benefit Plan Disclosure [Line Items]
Current service cost	16	15	9
Interest cost	27	25	26
Amortization of actuarial loss (gain)	13	14	7
Net periodic benefit cost	56	54	42
Net actuarial loss (gain)	46	(2)	123
Amortization of net actuarial (loss) gain included in net periodic benefit cost	(13)	(14)	(7)
Total recorded in other comprehensive income	33	(16)	116
Total recorded in net periodic benefit cost and other comprehensive income, before tax	CAD 89	CAD 38	CAD 158

Summary of Change in Accumulate

Summary of Change in Accumulated Other Comprehensive Income (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Defined Benefit Plan Disclosure [Line Items]
(Charge) credit to other comprehensive income, before tax	CAD (103)	CAD 316	CAD (456)
Deferred income tax (charge) credit (note 17)	34	(85)	118
(Charge) credit to other comprehensive income, after tax	CAD (69)	CAD 231	CAD (338)

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, 2016		Dec. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Total plan assets at fair value		CAD 7,359		CAD 7,260
Investments that are measured at fair value using net asset value		7,353	[1]	7,247	[2]
Canadian Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Total plan assets at fair value		433		469
Investments that are measured at fair value using net asset value		433	[1]	469	[2]
Non-Canadian Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Total plan assets at fair value		2,448		2,267
Investments that are measured at fair value using net asset value		2,448	[1]	2,267	[2]
Corporate Debt Securities
Defined Benefit Plan Disclosure [Line Items]
Total plan assets at fair value		988		984
Investments that are measured at fair value using net asset value		988	[1]	984	[2]
Government Debt Securities
Defined Benefit Plan Disclosure [Line Items]
Total plan assets at fair value		3,218		3,251
Investments that are measured at fair value using net asset value		3,218	[1]	3,251	[2]
Asset Backed Debt Securities
Defined Benefit Plan Disclosure [Line Items]
Total plan assets at fair value				4
Investments that are measured at fair value using net asset value	[2]			4
Equities - Venture Capital
Defined Benefit Plan Disclosure [Line Items]
Total plan assets at fair value		241		272
Investments that are measured at fair value using net asset value		241	[1]	272	[2]
Cash
Defined Benefit Plan Disclosure [Line Items]
Total plan assets at fair value		31		13
Investments that are measured at fair value using net asset value	[1]	25
Level 1
Defined Benefit Plan Disclosure [Line Items]
Total plan assets at fair value		6		13
Level 1 | Cash
Defined Benefit Plan Disclosure [Line Items]
Total plan assets at fair value		CAD 6		CAD 13
[1]	Per ASU 2015-07, certain investments that are measured at fair value using the Net Asset Value (NAV) per share practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the total value of plan assets.
[2]	Per ASU 2015-07, certain investments that are measured at fair value using the Net Asset Value (NAV) per share practical expedient have been re-categorized from the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the total value of plan assets.

Pension Plan with Accumulated B

Pension Plan with Accumulated Benefit Obligation in Excess of Plan Assets (Detail) - CAD CAD in Millions	Dec. 31, 2016	Dec. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	CAD 7,359	CAD 7,260
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	553	587
Accumulated benefit obligation	CAD 525	CAD 560

Estimated 2017 Amortization fro

Estimated 2017 Amortization from Accumulated Other Comprehensive Income (Detail) CAD in Millions	12 Months Ended
	Dec. 31, 2016CAD
Pension benefits
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss (gain)	CAD 179	[1]
Prior service cost	11	[2]
Other post-retirement benefits
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss (gain)	CAD 14	[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, 2016CAD
Pension benefits
Defined Benefit Plan Disclosure [Line Items]
2,017	CAD 420
2,018	425
2,019	435
2,020	440
2,021	440
2022 - 2026	2,201
Other post-retirement benefits
Defined Benefit Plan Disclosure [Line Items]
2,017	30
2,018	31
2,019	31
2,020	32
2,021	33
2022 - 2026	CAD 175

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, 2016CAD
Defined Benefit Plan Disclosure [Line Items]
Effect on net benefit cost, before tax, One percent increase - Rate of return on plan assets	CAD (70)
Effect on net benefit cost, before tax, One percent increase - Discount rate	(90)
Effect on benefit obligation, One percent increase - Discount rate	(1,135)
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	230
Effect on net benefit cost, before tax, One percent decrease - Rate of return on plan assets	70
Effect on net benefit cost, before tax, One percent decrease - Discount rate	110
Effect on benefit obligation, One percent decrease - Discount rate	1,455
Effect on net benefit cost, before tax, One percent decrease- Rate of pay increases	(40)
Effect on benefit obligation, One percent decrease - Rate of pay increases	CAD (195)

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, 2016CAD
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	85
Effect on benefit obligation, One percent decrease	CAD (70)

Other Long-Term Obligations (De

Other Long-Term Obligations (Detail) - CAD CAD in Millions		Dec. 31, 2016	Dec. 31, 2015
Schedule of Other Liabilities [Line Items]
Employee retirement benefits	[1]	CAD 1,645	CAD 1,470
Asset retirement obligations and other environmental liabilities	[2]	1,544	1,628
Share-based incentive compensation liabilities		139	134
Other obligations		328	365
Total other long-term obligations	[3]	CAD 3,656	CAD 3,597
[1]	Total recorded employee retirement benefits obligations also included $58 million in current liabilities (2015 - $59 million).
[2]	Total asset retirement obligations and other environmental liabilities also included $108 million in current liabilities (2015 - $116 million).
[3]	Other long-term obligations included amounts to related parties of $104 million (2015 - $146 million), (note 16).

Other Long-Term Obligations (Pa

Other Long-Term Obligations (Parenthetical) (Detail) - CAD CAD in Millions	Dec. 31, 2016	Dec. 31, 2015
Schedule of Other Liabilities [Line Items]
Employee retirement benefit obligations in current liabilities	CAD 58	CAD 59
Asset retirement obligations and other environmental liabilities in current liabilities	CAD 108	CAD 116

Schedule of Asset Retirement Ob

Schedule of Asset Retirement Obligations (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Reconciliation of Changes in Asset Retirement Obligations [Line Items]
Balance as at January 1	CAD 1,571	CAD 1,292
Additions (Deductions)	(160)	250
Reductions due to property sales		(12)
Accretion	97	84
Settlement	(36)	(43)
Balance as at December 31	CAD 1,472	CAD 1,571

Share-Based Incentive Compens67

Share-Based Incentive Compensation Programs - Additional Information (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense charged against income	CAD 59	CAD 35	CAD 90
Income tax benefit recognized in income related to compensation expense	24	13	31
Cash payment for compensation expense	CAD 79	CAD 78	CAD 94
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 123
Weighted average vesting period of nonvested restricted stock	3 years 6 months
Restricted Stock Units | Restricted Stock Unit Plan 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage restricted stock units exercisable on third anniversary of the grant date	50.00%
Percentage restricted stock units exercisable on seventh anniversary of the 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 on fifth anniversary of the grant date	50.00%
Percentage restricted stock units exercisable on tenth anniversary of the grant date	50.00%
Restricted Stock Units | Restricted Stock Unit Plan 3
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage restricted stock units exercisable on fifth anniversary of the grant date	50.00%
Percentage restricted stock units exercisable on tenth anniversary of the 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, 2016shares
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at January 1, 2016	7,504,493
Granted	815,870
Exercised	(1,623,337)
Forfeited and cancelled	(34,900)
Outstanding at December 31, 2016	6,662,126
Deferred Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at January 1, 2016	121,369
Granted	14,808
Outstanding at December 31, 2016	136,177

Gains and Losses on Asset Sales

Gains and Losses on Asset Sales (Detail) - CAD CAD in Millions		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Investment And Other Income [Line Items]
Proceeds from asset sales		CAD 3,021	CAD 142	CAD 851
Book value of assets sold		777	45	155
Gain (loss) on asset sales, before tax	[1],[2]	2,244	97	696
Gain (loss) on asset sales, after tax	[1],[2]	CAD 1,908	CAD 79	CAD 526
[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]	2016 included a gain of $2.0 billion ($1.7 billion, after tax) from the sale of company-owned Esso-branded retail sites; and a gain of $161 million ($134 million, after tax) for the sale of Imperial's general aviation business.

Gains and Losses on Asset Sal70

Gains and Losses on Asset Sales (Parenthetical) (Detail) - CAD CAD in Millions		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Investment And Other Income [Line Items]
Gain (loss) on asset sales, before tax	[1],[2]	CAD 2,244	CAD 97	CAD 696
Gain (loss) on asset sales, after tax	[1],[2]	1,908	CAD 79	526
Esso Retail Sites
Investment And Other Income [Line Items]
Gain (loss) on asset sales, before tax		2,000
Gain (loss) on asset sales, after tax		1,700
General Aviation Business
Investment And Other Income [Line Items]
Gain (loss) on asset sales, before tax		161
Gain (loss) on asset sales, after tax		CAD 134
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
[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]	2016 included a gain of $2.0 billion ($1.7 billion, after tax) from the sale of company-owned Esso-branded retail sites; and a gain of $161 million ($134 million, after tax) for the sale of Imperial's general aviation business.

Litigation and Other Continge71

Litigation and Other Contingencies - Additional Information (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2016
Litigation And Other Contingencies [Line Items]
Total payment on unconditional purchase obligation	CAD 125	CAD 112
Total other third party obligations payable			CAD 49

Summary of Common Shares (Detai

Summary of Common Shares (Detail) - shares	Dec. 31, 2016	Dec. 31, 2015
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			252 Months Ended
	Dec. 31, 2016Repurchase_Planshares	Dec. 31, 2015shares	Dec. 31, 2014shares	Dec. 31, 2016CADRepurchase_Planshares
Class of Stock [Line Items]
Normal course issuer bid share repurchase programs | Repurchase_Plan	21			21
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	1,000	2,000	906,545,000
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					252 Months Ended
	Dec. 31, 2016		Dec. 31, 2015		Dec. 31, 2014	Dec. 31, 2016
Class of Stock [Line Items]
Common stock beginning balance, shares	847,599		847,599		847,599
Issued under employee share-based awards	1		1		2
Purchases at stated value, shares	(1)		(1)		(2)	(906,545)
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 (2015 - 1,100 million and 848 million, respectively), (note 10).

Net Income (Loss) Per Share (De

Net Income (Loss) Per Share (Detail) - CAD CAD / shares in Units, shares in Millions, CAD in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Net income (loss) per common share - basic
Net income (loss)	CAD 2,165	CAD 1,122	CAD 3,785
Weighted average number of common shares outstanding (millions of shares)	847.6	847.6	847.6
Net income (loss) per common share (dollars)	CAD 2.55	CAD 1.32	CAD 4.47
Net income (loss) per common share - diluted
Net income (loss)	CAD 2,165	CAD 1,122	CAD 3,785
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)	2.9	3	3
Weighted average number of common shares outstanding, assuming dilution (millions of shares)	850.5	850.6	850.6
Net income (loss) per common share (dollars)	CAD 2.55	CAD 1.32	CAD 4.45

Miscellaneous Financial Infor76

Miscellaneous Financial Information - Additional Information (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Additional Financial Information [Line Items]
Effect of LIFO inventory liquidation on income	CAD 5	CAD (39)	CAD 29
Difference between LIFO carrying values and replacement cost of inventories	1,000	427
Research and development costs charged to expenses	152	149	CAD 128
Accounts payable and accrued liabilities included accrued taxes other than income taxes	CAD 396	CAD 378

Inventories of Crude Oil and Pr

Inventories of Crude Oil and Products (Detail) - CAD CAD in Millions	Dec. 31, 2016	Dec. 31, 2015
Product Information [Line Items]
Crude oil	CAD 558	CAD 690
Petroleum products	300	443
Chemical products	51	51
Natural gas and other	40	6
Total inventories of crude oil and products	CAD 949	CAD 1,190

Financing Costs and Additiona78

Financing Costs and Additional Notes and Loans Payable Information (Detail) - CAD CAD in Millions		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Debt-related interest		CAD 121	CAD 102	CAD 82
Capitalized interest		(49)	(68)	(82)
Net interest expense		72	34
Other interest		(7)	5	4
Total financing costs	[1]	CAD 65	CAD 39	CAD 4
[1]	Cash interest payments in 2016 were $73 million (2015 - $74 million, 2014 - $82 million). The weighted average interest rate on short-term borrowings in 2016 was 0.8 percent (2015 - 0.8 percent, 2014 - 1.1 percent). Average effective rate on the long-term borrowings with ExxonMobil in 2016 was 1.0 percent (2015 - 1.0 percent, 2014 - 1.2 percent).

Financing Costs and Additiona79

Financing Costs and Additional Notes and Loans Payable Information (Parenthetical) (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash interest payments	CAD 73	CAD 74	CAD 82
Weighted average interest rate on short-term borrowings	0.80%	0.80%	1.10%
Average effective rate for affiliate long-term borrowing	1.00%	1.00%	1.20%

Financing Costs and Additiona80

Financing Costs and Additional Notes and Loans Payable Information - Additional Information (Detail) - CAD	1 Months Ended
	Dec. 31, 2016	Oct. 31, 2016
Long Term Line Of Credit
Financing Activities [Line Items]
Debt instrument, maturity date		Nov. 30, 2018
Long Term Line Of Credit | Maximum
Financing Activities [Line Items]
Unused committed line of credit		CAD 250,000,000
Long Term Line Of Credit | Minimum
Financing Activities [Line Items]
Unused committed line of credit		CAD 500,000,000
Short Term Line of Credit
Financing Activities [Line Items]
Debt instrument, maturity date	Dec. 31, 2017
Short Term Line of Credit | Maximum
Financing Activities [Line Items]
Unused committed line of credit	CAD 250,000,000
Short Term Line of Credit | Minimum
Financing Activities [Line Items]
Unused committed line of credit	500,000,000
Exxon Mobil | Revolving demand loan
Financing Activities [Line Items]
Non-interest bearing, revolving demand loan, maximum borrowing capacity	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, 2016CAD
Operating Leased Assets [Line Items]
Minimum undiscounted lease commitments	CAD 275	[1]
[1]	Net rental cost under cancelable and non-cancelable operating leases incurred in 2016 was $253 million (2015 - $311 million, 2014 - $315 million). Related rental income was not material.

Schedule of Non Cancelable Oper

Schedule of Non Cancelable Operating Leases (Detail) CAD in Millions	Dec. 31, 2016CAD	[1]
Operating Leased Assets [Line Items]
Lease payments under minimum commitments, 2017	CAD 139
Lease payments under minimum commitments, 2018	84
Lease payments under minimum commitments, 2019	45
Lease payments under minimum commitments, 2020	2
Lease payments under minimum commitments, 2021	2
Lease payments under minimum commitments, After 2021	3
Total lease payments under minimum commitments	CAD 275
[1]	Net rental cost under cancelable and non-cancelable operating leases incurred in 2016 was $253 million (2015 - $311 million, 2014 - $315 million). Related rental income was not material.

Schedule of Non Cancelable Op83

Schedule of Non Cancelable Operating Leases (Parenthetical) (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Operating Leased Assets [Line Items]
Net rental cost incurred for operating leases	CAD 253	CAD 311	CAD 315

Long-Term Debt (Detail)

Long-Term Debt (Detail) - CAD CAD in Millions		Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Long-term debt	[1]	CAD 4,447	CAD 5,952
Capital leases	[2]	585	612
Total long-term debt	[3]	CAD 5,032	CAD 6,564
[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.
[2]	Capital leases are primarily associated with transportation facilities and services agreements. The average imputed rate was 6.9 percent in 2016 (2015 - 5.8 percent). Total capitalized lease obligations also include $27 million in current liabilities (2015 - $28 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 included amounts to related parties of $4,447 million (2015 - $5,952 million), (note 16).

Long-Term Debt (Parenthetical)

Long-Term Debt (Parenthetical) (Detail) - CAD	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
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
Capitalized lease obligations for marine services, average imputed rate	6.90%	5.80%
Total capitalized lease obligations in current liabilities	CAD 27,000,000	CAD 28,000,000
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 in Millions	12 Months Ended
	Dec. 31, 2016CAD
Floating Rate Loan Facility | Exxon Mobil
Line of Credit Facility [Line Items]
Decrease in long-term debt drawn from credit facility	CAD (1,505)

Period End Capitalized Suspende

Period End Capitalized Suspended Exploratory Well Costs (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Projects with Exploratory Well Costs Capitalized for More than One Year [Line Items]
Capitalized suspended exploratory well costs, total	CAD 167	CAD 173	CAD 143	CAD 167	CAD 167
Beginning Balance	167	173
Additions pending the determination of proved reserves		5
Charged to expense	(24)
Reclassification to wells, facilities and equipment based on the determination of proved reserves		(11)
Ending Balance	CAD 143	CAD 167
Capitalized for a period of one year or less			0	0	0
Capitalized For Period Of Between One And Ten Years
Projects with Exploratory Well Costs Capitalized for More than One Year [Line Items]
Capitalized suspended exploratory well costs			143	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 143	CAD 167	CAD 167

Number of Projects with Suspend

Number of Projects with Suspended Exploratory Well Costs (Detail) - Project	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
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 Par89

Transactions with Related Parties - Additional Information (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015		Dec. 31, 2014	[1]
Related Party Transaction [Line Items]
Amounts of sales by Imperial	CAD 2,342	CAD 3,058	[1]	CAD 3,358
Long-Term Loans
Related Party Transaction [Line Items]
Outstanding loans from an affiliate	4,447	5,952
Short-Term Loans
Related Party Transaction [Line Items]
Outstanding loans from an affiliate	75	CAD 75
Exxon Mobil
Related Party Transaction [Line Items]
Amounts of purchases by Imperial	2,187
Amounts of sales by Imperial	CAD 2,315
[1]	*Note: Restated 2015 and 2014.

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Income (Loss) (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at January 1	CAD (1,828)	CAD (2,059)	CAD (1,721)
Current period change excluding amounts reclassified from accumulated other comprehensive income	(210)	64	(483)
Amounts reclassified from accumulated other comprehensive income	141	167	145
Balance at December 31	CAD (1,897)	CAD (1,828)	CAD (2,059)

Amounts Reclassified Out of Acc

Amounts Reclassified Out of Accumulated Other Comprehensive Income (Loss) (Detail) - CAD CAD in Millions		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Reclassification Adjustment out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amortization of post-retirement benefits liability adjustment included in net periodic benefit cost	[1]	CAD (184)	CAD (228)	CAD (196)
[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 (Loss) (Detail) - CAD CAD in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Post-retirement benefits liability adjustment (excluding amortization)	CAD (77)	CAD 24	CAD (169)
Amortization of post-retirement benefits liability adjustment included in net periodic benefit cost	43	61	51
Total	CAD (34)	CAD 85	CAD (118)