Imperial Oil Limited (IMO) 10-Q 2 Aug 18 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 30, 2018shares
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Trading Symbol	IMO
Entity Registrant Name	IMPERIAL OIL LTD
Entity Central Index Key	49,938
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	802,679,927

Consolidated statement of incom

Consolidated statement of income - CAD ($) $ in Millions		3 Months Ended				6 Months Ended
		Jun. 30, 2018		Jun. 30, 2017		Jun. 30, 2018		Jun. 30, 2017
Revenues and other income
Revenues	[1]	$ 9,516	[2]	$ 6,985	[2]	$ 17,416	[3]	$ 13,943	[3]
Investment and other income (note 5)		27		48		61		246
Total revenues and other income		9,543		7,033		17,477		14,189
Expenses
Exploration		1				9		22
Purchases of crude oil and products	[4]	6,537		4,642		11,317		8,975
Production and manufacturing	[5]	1,646		1,495		3,077		2,840
Selling and general	[5]	273		198		467		401
Federal excise tax		412		421		809		815
Depreciation and depletion		358		352		735		744
Non-service pension and postretirement benefit	[7]	26	[6]	33		53	[6]	66
Financing (note 7)		26		17		49		31
Total expenses		9,279		7,158		16,516		13,894
Income (loss) before income taxes		264		(125)		961		295
Income taxes		68		(48)		249		39
Net income (loss)		$ 196		$ (77)		$ 712		$ 256
Per share information (Canadian dollars)
Net income (loss) per common share - basic (note 10)		$ 0.24		$ (0.09)		$ 0.86		$ 0.30
Net income (loss) per common share - diluted (note 10)		0.24		(0.09)		0.86		0.30
Dividends per common share - declared		$ 0.19		$ 0.16		$ 0.35		$ 0.31
[1]	Amounts from related parties included in revenues. 1,769 1,008 3,142 2,045
[2]	Included export sales to the United States of $1,561 million (2017 - $1,045 million). Export sales to the United States were recorded in all operating segments, with the largest effects in the Upstream segment.
[3]	Included export sales to the United States of $2,768 million (2017 - $1,944 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. 1,374 706 2,266 1,315
[5]	Amounts to related parties included in production and manufacturing, and selling and general expenses. 156 147 297 288
[6]	As part of the implementation of Accounting Standard Update, Compensation - Retirement Benefits (Topic 715), beginning January 1, 2018, Corporate and other includes all non-service pension and postretirement benefit expense. Prior to 2018, the majority of these costs were allocated to the operating segments. See note 2 for additional details.
[7]	Prior year amounts have been reclassified. See note 2 for additional details.

Consolidated statement of inco3

Consolidated statement of income (Parenthetical) - CAD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Amounts from related parties included in revenues.	$ 1,769	$ 1,008	$ 3,142	$ 2,045
Amounts to related parties included in purchases of crude oil and products.	1,374	706	2,266	1,315
Amounts to related parties included in production and manufacturing, and selling and general expenses.	$ 156	$ 147	$ 297	$ 288

Consolidated statement of compr

Consolidated statement of comprehensive income - CAD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Net income (loss)	$ 196	$ (77)	$ 712	$ 256
Other comprehensive income (loss), net of income taxes
Postretirement benefits liability adjustment (excluding amortization)			(19)	41
Amortization of postretirement benefits liability adjustment included in net periodic benefit costs	33	36	67	72
Total other comprehensive income (loss)	33	36	48	113
Comprehensive income (loss)	$ 229	$ (41)	$ 760	$ 369

Consolidated balance sheet

Consolidated balance sheet - CAD ($) $ in Millions		Jun. 30, 2018		Dec. 31, 2017
Current assets
Cash		$ 873	[1]	$ 1,195
Accounts receivable, less estimated doubtful accounts	[2]	2,625		2,712
Inventories of crude oil and products		1,221		1,075
Materials, supplies and prepaid expenses	[3]	456		425
Total current assets		5,175		5,407
Investments and long-term receivables	[3]	860		865
Property, plant and equipment,		53,272		52,778
less accumulated depreciation and depletion		(19,028)		(18,305)
Property, plant and equipment, net		34,244		34,473
Goodwill		186		186
Other assets, including intangibles, net (note 9)		925		670
Total assets		41,390		41,601
Current liabilities
Notes and loans payable	[4]	202		202
Accounts payable and accrued liabilities (note 9)	[2]	3,923		3,877
Income taxes payable		89		57
Total current liabilities		4,214		4,136
Long-term debt (note 8)	[5]	4,992		5,005
Other long-term obligations (note 9)	[6]	3,943		3,780
Deferred income tax liabilities		4,476		4,245
Total liabilities		17,625		17,166
Shareholders' equity
Common shares at stated value (note 10)	[7]	1,483		1,536
Earnings reinvested (note 11)		24,049		24,714
Accumulated other comprehensive income (loss) (note 12)		(1,767)		(1,815)
Total shareholders' equity		23,765		24,435
Total liabilities and shareholders' equity		$ 41,390		$ 41,601
[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 $344 million (2017 - $509 million).
[3]	Investments and long-term receivables included amounts from related parties of $56 million (2017 - $19 million).
[4]	Notes and loans payable included amounts to related parties of $75 million (2017 - $75 million).
[5]	Long-term debt included amounts to related parties of $4,447 million (2017 - $4,447 million).
[6]	Other long-term obligations included amounts to related parties of $38 million (2017 - $60 million).
[7]	Number of common shares authorized and outstanding were 1,100 million and 803 million, respectively (2017 - 1,100 million and 831 million, respectively).

Consolidated balance sheet (Par

Consolidated balance sheet (Parenthetical) - CAD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Amounts receivable (payable) from (to) related parties	$ 344	$ 509
Due to related parties, current	$ 75	$ 75
Common shares authorized	1,100,000,000	1,100,000,000
Common shares outstanding	802,680,000	831,242,000
Investments and Long Term Receivables
Due from related parties	$ 56	$ 19
Long-term debt
Due to related parties	4,447	4,447
Other long-term obligations
Due to related parties	$ 38	$ 60

Consolidated statement of cash

Consolidated statement of cash flows - CAD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Operating activities
Net income (loss)		$ 196	$ (77)	$ 712	$ 256
Adjustments for non-cash items:
Depreciation and depletion		358	352	735	744
(Gain) loss on asset sales (note 5)	[1]	(9)	(31)	(19)	(213)
Deferred income taxes and other		24	(37)	209	163
Changes in operating assets and liabilities:
Accounts receivable		(340)	146	87	424
Inventories, materials, supplies and prepaid expenses		40	(45)	(177)	(117)
Income taxes payable		16	16	32	(448)
Accounts payable and accrued liabilities		439	(30)	24	(240)
All other items - net	[2],[3]	135	198	241	277
Cash flows from (used in) operating activities		859	492	1,844	846
Investing activities
Additions to property, plant and equipment	[3]	(357)	(320)	(728)	(442)
Proceeds from asset sales (note 5)		9	39	21	222
Loan to equity company		(31)		(37)
Cash flows from (used in) investing activities		(379)	(281)	(744)	(220)
Financing activities
Reduction in capitalized lease obligations (note 8)		(7)	(6)	(13)	(13)
Dividends paid		(132)	(127)	(266)	(254)
Common shares purchased (note 10)		(893)	(127)	(1,143)	(127)
Cash flows from (used in) financing activities		(1,032)	(260)	(1,422)	(394)
Increase (decrease) in cash		(552)	(49)	(322)	232
Cash at beginning of period		1,425	672	1,195	391
Cash at end of period	[4]	$ 873	$ 623	$ 873	$ 623
[1]	The six months ended June 30, 2017 included a gain of $174 million ($151 million after tax) from the sale of surplus property in Ontario
[2]	Included contribution to registered pension plans. (57) (58 ) (101) (98 )
[3]	The impact of carbon emission programs are included in additions to property, plant and equipment, and all other items, net.
[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 cash8

Consolidated statement of cash flows (Parenthetical) - CAD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Included contribution to registered pension plans	$ (57)	$ (58)	$ (101)	$ (98)

Basis of financial statement pr

Basis of financial statement preparation	6 Months Ended
	Jun. 30, 2018
Basis of financial statement preparation	1. Basis of financial statement preparation These unaudited consolidated financial statements have been prepared in accordance with United States Generally Accepted Accounting Principles (GAAP) and follow the same accounting policies and methods of computation as, and should be read in conjunction with, the most recent annual consolidated financial statements filed with the U.S. Securities and Exchange Commission (SEC) in the company’s 2017 annual report on Form 10-K. The company’s exploration and production activities are accounted for under the “successful efforts” method. The results for the six months ended June 30, 2018, are not necessarily indicative of the operations to be expected for the full year. All amounts are in Canadian dollars unless otherwise indicated.

Accounting changes

Accounting changes	6 Months Ended
	Jun. 30, 2018
Accounting changes	2. Accounting changes Effective January 1, 2018, Imperial adopted the Financial Accounting Standards Board’s standard, Revenue from Contracts with Customers, Effective January 1, 2018, Imperial adopted the Financial Accounting Standards Board’s standard update, Compensation – Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost “Non-service “Non-service non-service The impact of the retrospective presentation change on Imperial’s consolidated statement of income for the period ended June 30, 2018 is shown below. Second Quarter Six Months to millions of Canadian dollars 2017 June 30, 2017 As reported Change As adjusted As reported Change As adjusted Production and manufacturing 1,525 (30) 1,495 2,900 (60) 2,840 Selling and general 201 (3) 198 407 (6) 401 Non-service - 33 33 - 66 66 Effective January 1, 2018, Imperial adopted the Financial Accounting Standards Board’s standard update, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities The standard also expanded disclosures related to financial statements. The company’s only notable financial instrument is long-term debt ($4,447 million, excluding capitalized lease obligations), where the difference between fair value and carrying value was de minimis. The fair value of long-term debt was primarily a level 2 measurement.

Business segments

Business segments	6 Months Ended
	Jun. 30, 2018
Business segments	3. Business segments Second Quarter Upstream Downstream Chemical millions of Canadian dollars 2018 2017 2018 2017 2018 2017 Revenues and other income Revenues (a) 2,318 1,787 6,870 4,909 328 289 Intersegment sales 650 289 332 242 74 62 Investment and other income (note 5) 3 5 19 42 - (2 ) 2,971 2,081 7,221 5,193 402 349 Expenses Exploration 1 - - - - - Purchases of crude oil and products 1,573 1,026 5,803 4,014 216 193 Production and manufacturing (b) 1,106 1,051 488 426 52 48 Selling and general (b) - (7 ) 197 185 23 19 Federal excise tax - - 412 421 - - Depreciation and depletion 300 298 49 47 4 3 Non-service (b) - - - - - - Financing (note 7) - - - - - - Total expenses 2,980 2,368 6,949 5,093 295 263 Income (loss) before income taxes (9 ) (287 ) 272 100 107 86 Income taxes (3 ) (86 ) 71 22 29 22 Net income (loss) (6 ) (201 ) 201 78 78 64 Cash flows from (used in) operating activities (10 ) 117 776 302 116 100 Capital and exploration expenditures (c) 183 91 88 39 7 3 Second Quarter Corporate and other Eliminations Consolidated millions of Canadian dollars 2018 2017 2018 2017 2018 2017 Revenues and other income Revenues (a) - - - - 9,516 6,985 Intersegment sales - - (1,056 ) (593 ) - - Investment and other income (note 5) 5 3 - - 27 48 5 3 (1,056 ) (593 ) 9,543 7,033 Expenses Exploration - - - - 1 - Purchases of crude oil and products - - (1,055 ) (591 ) 6,537 4,642 Production and manufacturing (b) - - - - 1,646 1,525 Selling and general (b) 54 6 (1 ) (2 ) 273 201 Federal excise tax - - - - 412 421 Depreciation and depletion 5 4 - - 358 352 Non-service (b) 26 - - - 26 - Financing (note 7) 26 17 - - 26 17 Total expenses 111 27 (1,056 ) (593 ) 9,279 7,158 Income (loss) before income taxes (106 ) (24 ) - - 264 (125 ) Income taxes (29 ) (6 ) - - 68 (48 ) Net income (loss) (77 ) (18 ) - - 196 (77 ) Cash flows from (used in) operating activities (23 ) (27 ) - - 859 492 Capital and exploration expenditures (c) 6 10 - - 284 143 (a) Included export sales to the United States of $1,561 million (2017 - $1,045 million). Export sales to the United States were recorded in all operating segments, with the largest effects in the Upstream segment. (b) As part of the implementation of Accounting Standard Update, Compensation – Retirement Benefits (Topic 715), beginning January 1, 2018, Corporate and other includes all non-service (c) Capital and exploration expenditures (CAPEX) include exploration expenses, additions to property, plant and equipment, additions to capital leases, additional investments and acquisitions. CAPEX excludes the purchase of carbon emission credits. Six Months to June 30 Upstream Downstream Chemical millions of Canadian dollars 2018 2017 2018 2017 2018 2017 Revenues and other income Revenues (a) 4,307 3,498 12,477 9,883 632 562 Intersegment sales 1,307 907 694 551 147 129 Investment and other income (note 5) 4 10 41 233 - (1 ) 5,618 4,415 13,212 10,667 779 690 Expenses Exploration 9 22 - - - - Purchases of crude oil and products 2,947 2,142 10,097 8,023 418 394 Production and manufacturing (b) 2,118 2,024 856 775 103 101 Selling and general (b) - (4 ) 370 373 44 41 Federal excise tax - - 809 815 - - Depreciation and depletion 618 634 100 95 7 6 Non-service (b) - - - - - - Financing (note 7) - 4 - - - - Total expenses 5,692 4,822 12,232 10,081 572 542 Income (loss) before income taxes (74 ) (407 ) 980 586 207 148 Income taxes (24 ) (120 ) 258 128 56 39 Net income (loss) (50 ) (287 ) 722 458 151 109 Cash flows from (used in) operating activities 327 425 1,366 358 199 77 Capital and exploration expenditures (c) 389 194 145 73 11 7 Total assets as at June 30 34,781 35,527 5,090 4,334 408 384 Six Months to June 30 Corporate and other Eliminations Consolidated millions of Canadian dollars 2018 2017 2018 2017 2018 2017 Revenues and other income Revenues (a) - - - - 17,416 13,943 Intersegment sales - - (2,148 ) (1,587 ) - - Investment and other income (note 5) 16 4 - - 61 246 16 4 (2,148 ) (1,587 ) 17,477 14,189 Expenses Exploration - - - - 9 22 Purchases of crude oil and products - - (2,145 ) (1,584 ) 11,317 8,975 Production and manufacturing (b) - - - - 3,077 2,900 Selling and general (b) 56 - (3 ) (3 ) 467 407 Federal excise tax - - - - 809 815 Depreciation and depletion 10 9 - - 735 744 Non-service (b) 53 - - - 53 - Financing (note 7) 49 27 - - 49 31 Total expenses 168 36 (2,148 ) (1,587 ) 16,516 13,894 Income (loss) before income taxes (152 ) (32 ) - - 961 295 Income taxes (41 ) (8 ) - - 249 39 Net income (loss) (111 ) (24 ) - - 712 256 Cash flows from (used in) operating activities (48 ) (14 ) - - 1,844 846 Capital and exploration expenditures (c) 13 22 - - 558 296 Total assets as at June 30 1,438 1,071 (327 ) (211 ) 41,390 41,105 (a) Included export sales to the United States of $2,768 million (2017 - $1,944 million). Export sales to the United States were recorded in all operating segments, with the largest effects in the Upstream segment. (b) As part of the implementation of Accounting Standard Update, Compensation – Retirement Benefits (Topic 715), beginning January 1, 2018, Corporate and other includes all non-service (c) Capital and exploration expenditures (CAPEX) include exploration expenses, additions to property, plant and equipment, additions to capital leases, additional investments and acquisitions. CAPEX excludes the purchase of carbon emission credits.

Accounting policy for revenue r

Accounting policy for revenue recognition	6 Months Ended
	Jun. 30, 2018
Accounting policy for revenue recognition	4. Accounting policy for revenue recognition Imperial generally sells crude oil, natural gas and petroleum and chemical products under short-term agreements at prevailing market prices. In some cases, products may be sold under long-term agreements, with periodic price adjustments to reflect market conditions. Revenue is recognized at the amount the company expects to receive when the customer has taken control, which is typically when title transfers and the customer has assumed the risks and rewards of ownership. The prices of certain sales are based on price indexes that are sometimes not available until the next period. In such cases, estimated realizations are accrued when the sale is recognized, and are finalized when final information is available. Such adjustments to revenue from performance obligations satisfied in previous periods are not significant. Payment for revenue transactions is typically due within 30 days. Future volume delivery obligations that are unsatisfied at the end of the period are expected to be fulfilled through ordinary production or purchases. These performance obligations are based on market prices at the time of the transaction and are fully constrained due to market price volatility. “Revenues” and “Accounts receivable, less estimated doubtful accounts” primarily arise from contracts with customers. Long-term receivables are primarily from non-customers.

Investment and other income

Investment and other income	6 Months Ended
	Jun. 30, 2018
Investment and other income	5. Investment and other income Investment and other income included gains and losses on asset sales as follows: Six Months Second Quarter to June 30 millions of Canadian dollars 2018 2017 2018 2017 Proceeds from asset sales 9 39 21 222 Book value of asset sales - 9 2 10 Gain (loss) on asset sales, before tax (a) 9 31 19 213 Gain (loss) on asset sales, after tax (a) 8 28 15 186 (a) The six months ended June 30, 2017 included a gain of $174 million ($151 million after tax) from the sale of surplus property in Ontario.

Employee retirement benefits

Employee retirement benefits	6 Months Ended
	Jun. 30, 2018
Employee retirement benefits	6. Employee retirement benefits The components of net benefit cost were as follows: Six Months Second Quarter to June 30 millions of Canadian dollars 2018 2017 2018 2017 Pension benefits: Current service cost 60 54 120 109 Interest cost 75 79 151 158 Expected return on plan assets (100 ) (101 ) (201 ) (202 ) Amortization of prior service cost 1 2 2 5 Amortization of actuarial loss (gain) 43 45 87 89 Net periodic benefit cost 79 79 159 159 Other postretirement benefits: Current service cost 4 4 8 8 Interest cost 6 6 11 12 Amortization of actuarial loss (gain) 1 2 3 4 Net periodic benefit cost 11 12 22 24

Financing and additional notes

Financing and additional notes and loans payable information	6 Months Ended
	Jun. 30, 2018
Financing and additional notes and loans payable information	7. Financing and additional notes and loans payable information Six Months Second Quarter to June 30 millions of Canadian dollars 2018 2017 2018 2017 Debt-related interest 32 27 62 49 Capitalized interest (6 ) (10 ) (13 ) (22 ) Net interest expense 26 17 49 27 Other interest - - - 4 Total financing 26 17 49 31

Long-term debt

Long-term debt	6 Months Ended
	Jun. 30, 2018
Long-term debt	8. Long-term debt As at As at June 30 Dec 31 millions of Canadian dollars 2018 2017 Long-term debt 4,447 4,447 Capital leases 545 558 Total long-term debt 4,992 5,005

Other long-term obligations

Other long-term obligations	6 Months Ended
	Jun. 30, 2018
Other long-term obligations	9. Other long-term obligations As at As at June 30 Dec 31 millions of Canadian dollars 2018 2017 Employee retirement benefits (a) 1,501 1,529 Asset retirement obligations and other environmental liabilities (b) 1,471 1,460 Share-based incentive compensation liabilities 129 99 Other obligations (c) 842 692 Total other long-term obligations 3,943 3,780 (a) Total recorded employee retirement benefits obligations also included $56 million in current liabilities (2017 - $56 million). (b) Total asset retirement obligations and other environmental liabilities also included $101 million in current liabilities (2017 - $101 million). (c) Included carbon emission program obligations. Carbon emission program credits are recorded under other assets, including intangibles, net. On July 3, 2018, the Government of Ontario revoked its carbon emission cap and trade regulation, prohibiting all trading of emissions allowances. On July 25, 2018, the Government of Ontario introduced legislation proposing to repeal Ontario’s cap and trade legislation and providing the framework for the wind down of the cap and trade program. The company’s net carbon emission program credits (obligations) reflected in the Consolidated balance sheet approximately totalled $65 million at June 30, 2018. Imperial will continue to assess this financial position in light of these announcements and the anticipated legislative process.

Common shares

Common shares	6 Months Ended
	Jun. 30, 2018
Common shares	10. Common shares As of As of June 30 Dec 31 thousands of shares 2018 2017 Authorized 1,100,000 1,100,000 Common shares outstanding 802,680 831,242 The 12-month The company announced another 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 December 31, 2016 847,599 1,566 Issued under employee share-based awards 2 - Purchases at stated value (16,359 ) (30 ) Balance as at December 31, 2017 831,242 1,536 Issued under employee share-based awards - - Purchases at stated value (28,562 ) (53 ) Balance as at June 30, 2018 802,680 1,483 The following table provides the calculation of basic and diluted earnings per common share: Second Quarter Six Months to June 30 2018 2017 2018 2017 Net income (loss) per common share - basic Net income (loss) (millions of Canadian dollars) 196 (77 ) 712 256 Weighted average number of common shares outstanding (millions of shares) 816.1 847.0 822.6 847.3 Net income (loss) per common share (dollars) 0.24 (0.09 ) 0.86 0.30 Net income (loss) per common share - diluted Net income (loss) (millions of Canadian dollars) 196 (77 ) 712 256 Weighted average number of common shares outstanding (millions of shares) 816.1 847.0 822.6 847.3 Effect of employee share-based awards (millions of shares) 2.7 2.9 2.6 2.8 Weighted average number of common shares outstanding, assuming dilution (millions of shares) 818.8 849.9 825.2 850.1 Net income (loss) per common share (dollars) 0.24 (0.09 ) 0.86 0.30

Earnings reinvested

Earnings reinvested	6 Months Ended
	Jun. 30, 2018
Earnings reinvested	11. Earnings reinvested Second Quarter Six Months to June 30 millions of Canadian dollars 2018 2017 2018 2017 Earnings reinvested at beginning of period 24,861 25,558 24,714 25,352 Net income (loss) for the period 196 (77 ) 712 256 Share purchases in excess of stated value (853 ) (121 ) (1,090 ) (121 ) Dividends declared (155 ) (136 ) (287 ) (263 ) Earnings reinvested at end of period 24,049 25,224 24,049 25,224

Other comprehensive income (los

Other comprehensive income (loss) information	6 Months Ended
	Jun. 30, 2018
Other comprehensive income (loss) information	12. Other comprehensive income (loss) information Changes in accumulated other comprehensive income (loss): millions of Canadian dollars 2018 2017 Balance at January 1 (1,815 ) (1,897 ) Postretirement benefits liability adjustment: Current period change excluding amounts reclassified (19 ) 41 Amounts reclassified from accumulated other comprehensive income 67 72 Balance at June 30 (1,767 ) (1,784 ) Amounts reclassified out of accumulated other comprehensive income (loss) - before-tax Second Quarter Six Months to June 30 millions of Canadian dollars 2018 2017 2018 2017 Amortization of postretirement benefits liability adjustment (a) (46 ) (49 ) (92 ) (98 ) (a) This accumulated other comprehensive income component is included in the computation of net periodic benefit cost (note 6). Income tax expense (credit) for components of other comprehensive income (loss): Second Quarter Six Months to June 30 millions of Canadian dollars 2018 2017 2018 2017 Postretirement benefits liability adjustments: Postretirement benefits liability adjustment (excluding amortization) - - (7 ) 16 Amortization of postretirement benefits liability adjustment included 13 13 25 26 Total 13 13 18 42

Recently issued accounting stan

Recently issued accounting standards	6 Months Ended
	Jun. 30, 2018
Recently issued accounting standards	13. Recently issued accounting standards Effective January 1, 2019, Imperial will adopt the Financial Accounting Standards Board’s standard, Leases (Topic 842)

Accounting changes (Policies)

Accounting changes (Policies)	6 Months Ended
	Jun. 30, 2018
Accounting changes	Effective January 1, 2018, Imperial adopted the Financial Accounting Standards Board’s standard, Revenue from Contracts with Customers, Effective January 1, 2018, Imperial adopted the Financial Accounting Standards Board’s standard update, Compensation – Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost “Non-service “Non-service non-service Effective January 1, 2018, Imperial adopted the Financial Accounting Standards Board’s standard update, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities The standard also expanded disclosures related to financial statements. The company’s only notable financial instrument is long-term debt ($4,447 million, excluding capitalized lease obligations), where the difference between fair value and carrying value was de minimis. The fair value of long-term debt was primarily a level 2 measurement.
Accounting policy for revenue recognition	Imperial generally sells crude oil, natural gas and petroleum and chemical products under short-term agreements at prevailing market prices. In some cases, products may be sold under long-term agreements, with periodic price adjustments to reflect market conditions. Revenue is recognized at the amount the company expects to receive when the customer has taken control, which is typically when title transfers and the customer has assumed the risks and rewards of ownership. The prices of certain sales are based on price indexes that are sometimes not available until the next period. In such cases, estimated realizations are accrued when the sale is recognized, and are finalized when final information is available. Such adjustments to revenue from performance obligations satisfied in previous periods are not significant. Payment for revenue transactions is typically due within 30 days. Future volume delivery obligations that are unsatisfied at the end of the period are expected to be fulfilled through ordinary production or purchases. These performance obligations are based on market prices at the time of the transaction and are fully constrained due to market price volatility. “Revenues” and “Accounts receivable, less estimated doubtful accounts” primarily arise from contracts with customers. Long-term receivables are primarily from non-customers.

Accounting changes (Tables)

Accounting changes (Tables)	6 Months Ended
	Jun. 30, 2018
Presentation Change on Consolidated Statement of Income	The impact of the retrospective presentation change on Imperial’s consolidated statement of income for the period ended June 30, 2018 is shown below. Second Quarter Six Months to millions of Canadian dollars 2017 June 30, 2017 As reported Change As adjusted As reported Change As adjusted Production and manufacturing 1,525 (30) 1,495 2,900 (60) 2,840 Selling and general 201 (3) 198 407 (6) 401 Non-service - 33 33 - 66 66

Business segments (Tables)

Business segments (Tables)	6 Months Ended
	Jun. 30, 2018
Business Segments	Second Quarter Upstream Downstream Chemical millions of Canadian dollars 2018 2017 2018 2017 2018 2017 Revenues and other income Revenues (a) 2,318 1,787 6,870 4,909 328 289 Intersegment sales 650 289 332 242 74 62 Investment and other income (note 5) 3 5 19 42 - (2 ) 2,971 2,081 7,221 5,193 402 349 Expenses Exploration 1 - - - - - Purchases of crude oil and products 1,573 1,026 5,803 4,014 216 193 Production and manufacturing (b) 1,106 1,051 488 426 52 48 Selling and general (b) - (7 ) 197 185 23 19 Federal excise tax - - 412 421 - - Depreciation and depletion 300 298 49 47 4 3 Non-service (b) - - - - - - Financing (note 7) - - - - - - Total expenses 2,980 2,368 6,949 5,093 295 263 Income (loss) before income taxes (9 ) (287 ) 272 100 107 86 Income taxes (3 ) (86 ) 71 22 29 22 Net income (loss) (6 ) (201 ) 201 78 78 64 Cash flows from (used in) operating activities (10 ) 117 776 302 116 100 Capital and exploration expenditures (c) 183 91 88 39 7 3 Second Quarter Corporate and other Eliminations Consolidated millions of Canadian dollars 2018 2017 2018 2017 2018 2017 Revenues and other income Revenues (a) - - - - 9,516 6,985 Intersegment sales - - (1,056 ) (593 ) - - Investment and other income (note 5) 5 3 - - 27 48 5 3 (1,056 ) (593 ) 9,543 7,033 Expenses Exploration - - - - 1 - Purchases of crude oil and products - - (1,055 ) (591 ) 6,537 4,642 Production and manufacturing (b) - - - - 1,646 1,525 Selling and general (b) 54 6 (1 ) (2 ) 273 201 Federal excise tax - - - - 412 421 Depreciation and depletion 5 4 - - 358 352 Non-service (b) 26 - - - 26 - Financing (note 7) 26 17 - - 26 17 Total expenses 111 27 (1,056 ) (593 ) 9,279 7,158 Income (loss) before income taxes (106 ) (24 ) - - 264 (125 ) Income taxes (29 ) (6 ) - - 68 (48 ) Net income (loss) (77 ) (18 ) - - 196 (77 ) Cash flows from (used in) operating activities (23 ) (27 ) - - 859 492 Capital and exploration expenditures (c) 6 10 - - 284 143 (a) Included export sales to the United States of $1,561 million (2017 - $1,045 million). Export sales to the United States were recorded in all operating segments, with the largest effects in the Upstream segment. (b) As part of the implementation of Accounting Standard Update, Compensation – Retirement Benefits (Topic 715), beginning January 1, 2018, Corporate and other includes all non-service (c) Capital and exploration expenditures (CAPEX) include exploration expenses, additions to property, plant and equipment, additions to capital leases, additional investments and acquisitions. CAPEX excludes the purchase of carbon emission credits. Six Months to June 30 Upstream Downstream Chemical millions of Canadian dollars 2018 2017 2018 2017 2018 2017 Revenues and other income Revenues (a) 4,307 3,498 12,477 9,883 632 562 Intersegment sales 1,307 907 694 551 147 129 Investment and other income (note 5) 4 10 41 233 - (1 ) 5,618 4,415 13,212 10,667 779 690 Expenses Exploration 9 22 - - - - Purchases of crude oil and products 2,947 2,142 10,097 8,023 418 394 Production and manufacturing (b) 2,118 2,024 856 775 103 101 Selling and general (b) - (4 ) 370 373 44 41 Federal excise tax - - 809 815 - - Depreciation and depletion 618 634 100 95 7 6 Non-service (b) - - - - - - Financing (note 7) - 4 - - - - Total expenses 5,692 4,822 12,232 10,081 572 542 Income (loss) before income taxes (74 ) (407 ) 980 586 207 148 Income taxes (24 ) (120 ) 258 128 56 39 Net income (loss) (50 ) (287 ) 722 458 151 109 Cash flows from (used in) operating activities 327 425 1,366 358 199 77 Capital and exploration expenditures (c) 389 194 145 73 11 7 Total assets as at June 30 34,781 35,527 5,090 4,334 408 384 Six Months to June 30 Corporate and other Eliminations Consolidated millions of Canadian dollars 2018 2017 2018 2017 2018 2017 Revenues and other income Revenues (a) - - - - 17,416 13,943 Intersegment sales - - (2,148 ) (1,587 ) - - Investment and other income (note 5) 16 4 - - 61 246 16 4 (2,148 ) (1,587 ) 17,477 14,189 Expenses Exploration - - - - 9 22 Purchases of crude oil and products - - (2,145 ) (1,584 ) 11,317 8,975 Production and manufacturing (b) - - - - 3,077 2,900 Selling and general (b) 56 - (3 ) (3 ) 467 407 Federal excise tax - - - - 809 815 Depreciation and depletion 10 9 - - 735 744 Non-service (b) 53 - - - 53 - Financing (note 7) 49 27 - - 49 31 Total expenses 168 36 (2,148 ) (1,587 ) 16,516 13,894 Income (loss) before income taxes (152 ) (32 ) - - 961 295 Income taxes (41 ) (8 ) - - 249 39 Net income (loss) (111 ) (24 ) - - 712 256 Cash flows from (used in) operating activities (48 ) (14 ) - - 1,844 846 Capital and exploration expenditures (c) 13 22 - - 558 296 Total assets as at June 30 1,438 1,071 (327 ) (211 ) 41,390 41,105 (a) Included export sales to the United States of $2,768 million (2017 - $1,944 million). Export sales to the United States were recorded in all operating segments, with the largest effects in the Upstream segment. (b) As part of the implementation of Accounting Standard Update, Compensation – Retirement Benefits (Topic 715), beginning January 1, 2018, Corporate and other includes all non-service (c) Capital and exploration expenditures (CAPEX) include exploration expenses, additions to property, plant and equipment, additions to capital leases, additional investments and acquisitions. CAPEX excludes the purchase of carbon emission credits.

Investment and other income (Ta

Investment and other income (Tables)	6 Months Ended
	Jun. 30, 2018
Gains and Losses on Asset Sales	Investment and other income included gains and losses on asset sales as follows: Six Months Second Quarter to June 30 millions of Canadian dollars 2018 2017 2018 2017 Proceeds from asset sales 9 39 21 222 Book value of asset sales - 9 2 10 Gain (loss) on asset sales, before tax (a) 9 31 19 213 Gain (loss) on asset sales, after tax (a) 8 28 15 186 (a) The six months ended June 30, 2017 included a gain of $174 million ($151 million after tax) from the sale of surplus property in Ontario.

Employee retirement benefits (T

Employee retirement benefits (Tables)	6 Months Ended
	Jun. 30, 2018
Schedule of Components of Net Benefit Cost	The components of net benefit cost were as follows: Six Months Second Quarter to June 30 millions of Canadian dollars 2018 2017 2018 2017 Pension benefits: Current service cost 60 54 120 109 Interest cost 75 79 151 158 Expected return on plan assets (100 ) (101 ) (201 ) (202 ) Amortization of prior service cost 1 2 2 5 Amortization of actuarial loss (gain) 43 45 87 89 Net periodic benefit cost 79 79 159 159 Other postretirement benefits: Current service cost 4 4 8 8 Interest cost 6 6 11 12 Amortization of actuarial loss (gain) 1 2 3 4 Net periodic benefit cost 11 12 22 24

Financing and additional note27

Financing and additional notes and loans payable information (Tables)	6 Months Ended
	Jun. 30, 2018
Financing and Additional Notes and Loans Payable Information	Six Months Second Quarter to June 30 millions of Canadian dollars 2018 2017 2018 2017 Debt-related interest 32 27 62 49 Capitalized interest (6 ) (10 ) (13 ) (22 ) Net interest expense 26 17 49 27 Other interest - - - 4 Total financing 26 17 49 31

Long-term debt (Tables)

Long-term debt (Tables)	6 Months Ended
	Jun. 30, 2018
Long-Term Debt	As at As at June 30 Dec 31 millions of Canadian dollars 2018 2017 Long-term debt 4,447 4,447 Capital leases 545 558 Total long-term debt 4,992 5,005

Other long-term obligations (Ta

Other long-term obligations (Tables)	6 Months Ended
	Jun. 30, 2018
Other Long-Term Obligations	As at As at June 30 Dec 31 millions of Canadian dollars 2018 2017 Employee retirement benefits (a) 1,501 1,529 Asset retirement obligations and other environmental liabilities (b) 1,471 1,460 Share-based incentive compensation liabilities 129 99 Other obligations (c) 842 692 Total other long-term obligations 3,943 3,780 (a) Total recorded employee retirement benefits obligations also included $56 million in current liabilities (2017 - $56 million). (b) Total asset retirement obligations and other environmental liabilities also included $101 million in current liabilities (2017 - $101 million). (c) Included carbon emission program obligations. Carbon emission program credits are recorded under other assets, including intangibles, net.

Common shares (Tables)

Common shares (Tables)	6 Months Ended
	Jun. 30, 2018
Summary of Common Shares	As of As of June 30 Dec 31 thousands of shares 2018 2017 Authorized 1,100,000 1,100,000 Common shares outstanding 802,680 831,242
Common Share Activities	The company’s common share activities are summarized below: Thousands of Millions of Balance as at December 31, 2016 847,599 1,566 Issued under employee share-based awards 2 - Purchases at stated value (16,359 ) (30 ) Balance as at December 31, 2017 831,242 1,536 Issued under employee share-based awards - - Purchases at stated value (28,562 ) (53 ) Balance as at June 30, 2018 802,680 1,483
Calculation of Basic and Diluted Earnings Per Share	The following table provides the calculation of basic and diluted earnings per common share: Second Quarter Six Months to June 30 2018 2017 2018 2017 Net income (loss) per common share - basic Net income (loss) (millions of Canadian dollars) 196 (77 ) 712 256 Weighted average number of common shares outstanding (millions of shares) 816.1 847.0 822.6 847.3 Net income (loss) per common share (dollars) 0.24 (0.09 ) 0.86 0.30 Net income (loss) per common share - diluted Net income (loss) (millions of Canadian dollars) 196 (77 ) 712 256 Weighted average number of common shares outstanding (millions of shares) 816.1 847.0 822.6 847.3 Effect of employee share-based awards (millions of shares) 2.7 2.9 2.6 2.8 Weighted average number of common shares outstanding, assuming dilution (millions of shares) 818.8 849.9 825.2 850.1 Net income (loss) per common share (dollars) 0.24 (0.09 ) 0.86 0.30

Earnings reinvested (Tables)

Earnings reinvested (Tables)	6 Months Ended
	Jun. 30, 2018
Summary of Earnings Reinvested	Second Quarter Six Months to June 30 millions of Canadian dollars 2018 2017 2018 2017 Earnings reinvested at beginning of period 24,861 25,558 24,714 25,352 Net income (loss) for the period 196 (77 ) 712 256 Share purchases in excess of stated value (853 ) (121 ) (1,090 ) (121 ) Dividends declared (155 ) (136 ) (287 ) (263 ) Earnings reinvested at end of period 24,049 25,224 24,049 25,224

Other comprehensive income (l32

Other comprehensive income (loss) information (Tables)	6 Months Ended
	Jun. 30, 2018
Changes in Accumulated Other Comprehensive Income (Loss)	Changes in accumulated other comprehensive income (loss): millions of Canadian dollars 2018 2017 Balance at January 1 (1,815 ) (1,897 ) Postretirement benefits liability adjustment: Current period change excluding amounts reclassified (19 ) 41 Amounts reclassified from accumulated other comprehensive income 67 72 Balance at June 30 (1,767 ) (1,784 )
Amounts Reclassified Out of Accumulated Other Comprehensive Income (Loss) - Before-Tax Income (Expense)	Amounts reclassified out of accumulated other comprehensive income (loss) - before-tax Second Quarter Six Months to June 30 millions of Canadian dollars 2018 2017 2018 2017 Amortization of postretirement benefits liability adjustment (a) (46 ) (49 ) (92 ) (98 ) (a) This accumulated other comprehensive income component is included in the computation of net periodic benefit cost (note 6).
Income Tax Expense (Credit) for Components of Other Comprehensive Income (Loss)	Income tax expense (credit) for components of other comprehensive income (loss): Second Quarter Six Months to June 30 millions of Canadian dollars 2018 2017 2018 2017 Postretirement benefits liability adjustments: Postretirement benefits liability adjustment (excluding amortization) - - (7 ) 16 Amortization of postretirement benefits liability adjustment included 13 13 25 26 Total 13 13 18 42

Accounting changes - Presentati

Accounting changes - Presentation Change on Consolidated Statement of Income (Detail) - CAD ($) $ in Millions		3 Months Ended			6 Months Ended
		Jun. 30, 2018		Jun. 30, 2017	Jun. 30, 2018		Jun. 30, 2017
Change in Accounting Estimate [Line Items]
Production and manufacturing	[1]	$ 1,646		$ 1,495	$ 3,077		$ 2,840
Selling and general	[1]	273		198	467		401
Non-service pension and postretirement benefit	[3]	$ 26	[2]	33	$ 53	[2]	66
Previously reported
Change in Accounting Estimate [Line Items]
Production and manufacturing				1,525			2,900
Selling and general				201			407
Change higher/(lower)
Change in Accounting Estimate [Line Items]
Production and manufacturing				(30)			(60)
Selling and general				(3)			(6)
Non-service pension and postretirement benefit				$ 33			$ 66
[1]	Amounts to related parties included in production and manufacturing, and selling and general expenses. 156 147 297 288
[2]	As part of the implementation of Accounting Standard Update, Compensation - Retirement Benefits (Topic 715), beginning January 1, 2018, Corporate and other includes all non-service pension and postretirement benefit expense. Prior to 2018, the majority of these costs were allocated to the operating segments. See note 2 for additional details.
[3]	Prior year amounts have been reclassified. See note 2 for additional details.

Accounting changes - Additional

Accounting changes - Additional Information (Detail) - CAD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Other Long Term Liabilities [Line Items]
Long-term debt excluding capitalized lease obligations	$ 4,447	$ 4,447

Business Segments (Detail)

Business Segments (Detail) - CAD ($) $ in Millions		3 Months Ended				6 Months Ended
		Jun. 30, 2018		Jun. 30, 2017		Jun. 30, 2018		Jun. 30, 2017		Dec. 31, 2017
Revenues and other income
Revenues	[1]	$ 9,516	[2]	$ 6,985	[2]	$ 17,416	[3]	$ 13,943	[3]
Investment and other income (note 5)		27		48		61		246
Total revenues and other income		9,543		7,033		17,477		14,189
Expenses
Exploration		1				9		22
Purchases of crude oil and products	[4]	6,537		4,642		11,317		8,975
Production and manufacturing	[5]	1,646		1,525		3,077		2,900
Selling and general	[5]	273		201		467		407
Federal excise tax		412		421		809		815
Depreciation and depletion		358		352		735		744
Non-service pension and postretirement benefit	[6]	26	[5]	33		53	[5]	66
Financing (note 7)		26		17		49		31
Total expenses		9,279		7,158		16,516		13,894
Income (loss) before income taxes		264		(125)		961		295
Income taxes		68		(48)		249		39
Net income (loss)		196		(77)		712		256
Cash flows from (used in) operating activities		859		492		1,844		846
Capital and exploration expenditures	[7]	284		143		558		296
Total assets as at June 30		41,390		41,105		41,390		41,105		$ 41,601
Upstream
Revenues and other income
Revenues		2,318	[2]	1,787	[2]	4,307	[3]	3,498	[3]
Intersegment sales		650		289		1,307		907
Investment and other income (note 5)		3		5		4		10
TOTAL OPERATING REVENUES, INTERSEGMENT SALES, INVESTMENT AND OTHER INCOME		2,971		2,081		5,618		4,415
Expenses
Exploration		1				9		22
Purchases of crude oil and products		1,573		1,026		2,947		2,142
Production and manufacturing	[5]	1,106		1,051		2,118		2,024
Selling and general	[5]			(7)				(4)
Depreciation and depletion		300		298		618		634
Financing (note 7)								4
Total expenses		2,980		2,368		5,692		4,822
Income (loss) before income taxes		(9)		(287)		(74)		(407)
Income taxes		(3)		(86)		(24)		(120)
Net income (loss)		(6)		(201)		(50)		(287)
Cash flows from (used in) operating activities		(10)		117		327		425
Capital and exploration expenditures	[7]	183		91		389		194
Total assets as at June 30		34,781		35,527		34,781		35,527
Downstream
Revenues and other income
Revenues		6,870	[2]	4,909	[2]	12,477	[3]	9,883	[3]
Intersegment sales		332		242		694		551
Investment and other income (note 5)		19		42		41		233
TOTAL OPERATING REVENUES, INTERSEGMENT SALES, INVESTMENT AND OTHER INCOME		7,221		5,193		13,212		10,667
Expenses
Purchases of crude oil and products		5,803		4,014		10,097		8,023
Production and manufacturing	[5]	488		426		856		775
Selling and general	[5]	197		185		370		373
Federal excise tax		412		421		809		815
Depreciation and depletion		49		47		100		95
Total expenses		6,949		5,093		12,232		10,081
Income (loss) before income taxes		272		100		980		586
Income taxes		71		22		258		128
Net income (loss)		201		78		722		458
Cash flows from (used in) operating activities		776		302		1,366		358
Capital and exploration expenditures	[7]	88		39		145		73
Total assets as at June 30		5,090		4,334		5,090		4,334
Chemical
Revenues and other income
Revenues		328	[2]	289	[2]	632	[3]	562	[3]
Intersegment sales		74		62		147		129
Investment and other income (note 5)				(2)				(1)
TOTAL OPERATING REVENUES, INTERSEGMENT SALES, INVESTMENT AND OTHER INCOME		402		349		779		690
Expenses
Purchases of crude oil and products		216		193		418		394
Production and manufacturing	[5]	52		48		103		101
Selling and general	[5]	23		19		44		41
Depreciation and depletion		4		3		7		6
Total expenses		295		263		572		542
Income (loss) before income taxes		107		86		207		148
Income taxes		29		22		56		39
Net income (loss)		78		64		151		109
Cash flows from (used in) operating activities		116		100		199		77
Capital and exploration expenditures	[7]	7		3		11		7
Total assets as at June 30		408		384		408		384
Corporate and Other
Revenues and other income
Investment and other income (note 5)		5		3		16		4
TOTAL OPERATING REVENUES, INTERSEGMENT SALES, INVESTMENT AND OTHER INCOME		5		3		16		4
Expenses
Selling and general	[5]	54		6		56
Depreciation and depletion		5		4		10		9
Non-service pension and postretirement benefit	[5]	26				53
Financing (note 7)		26		17		49		27
Total expenses		111		27		168		36
Income (loss) before income taxes		(106)		(24)		(152)		(32)
Income taxes		(29)		(6)		(41)		(8)
Net income (loss)		(77)		(18)		(111)		(24)
Cash flows from (used in) operating activities		(23)		(27)		(48)		(14)
Capital and exploration expenditures	[7]	6		10		13		22
Total assets as at June 30		1,438		1,071		1,438		1,071
Consolidation, Eliminations
Revenues and other income
Intersegment sales		(1,056)		(593)		(2,148)		(1,587)
TOTAL OPERATING REVENUES, INTERSEGMENT SALES, INVESTMENT AND OTHER INCOME		(1,056)		(593)		(2,148)		(1,587)
Expenses
Purchases of crude oil and products		(1,055)		(591)		(2,145)		(1,584)
Selling and general	[5]	(1)		(2)		(3)		(3)
Total expenses		(1,056)		(593)		(2,148)		(1,587)
Total assets as at June 30		$ (327)		$ (211)		$ (327)		$ (211)
[1]	Amounts from related parties included in revenues. 1,769 1,008 3,142 2,045
[2]	Included export sales to the United States of $1,561 million (2017 - $1,045 million). Export sales to the United States were recorded in all operating segments, with the largest effects in the Upstream segment.
[3]	Included export sales to the United States of $2,768 million (2017 - $1,944 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. 1,374 706 2,266 1,315
[5]	As part of the implementation of Accounting Standard Update, Compensation - Retirement Benefits (Topic 715), beginning January 1, 2018, Corporate and other includes all non-service pension and postretirement benefit expense. Prior to 2018, the majority of these costs were allocated to the operating segments. See note 2 for additional details.
[6]	Prior year amounts have been reclassified. See note 2 for additional details.
[7]	Capital and exploration expenditures (CAPEX) include exploration expenses, additions to property, plant and equipment, additions to capital leases, additional investments and acquisitions. CAPEX excludes the purchase of carbon emission credits.

Business Segments (Parenthetica

Business Segments (Parenthetical) (Detail) - CAD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
United States Exports
Segment Reporting Information [Line Items]
Operating revenues	$ 1,561	$ 1,045	$ 2,768	$ 1,944

Gains and Losses on Asset Sales

Gains and Losses on Asset Sales (Detail) - CAD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Investment And Other Income [Line Items]
Proceeds from asset sales		$ 9	$ 39	$ 21	$ 222
Book value of asset sales			9	2	10
Gain (loss) on asset sales, before-tax	[1]	9	31	19	213
Gain (loss) on asset sales, after-tax	[1]	$ 8	$ 28	$ 15	$ 186
[1]	The six months ended June 30, 2017 included a gain of $174 million ($151 million after tax) from the sale of surplus property in Ontario

Gains and Losses on Asset Sal38

Gains and Losses on Asset Sales (Parenthetical) (Detail) - CAD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Investment And Other Income [Line Items]
Gain (loss) on asset sales, before- tax	[1]	$ 9	$ 31	$ 19	$ 213
Gain (loss) on asset sales, after- tax	[1]	$ 8	$ 28	$ 15	186
Surplus Property
Investment And Other Income [Line Items]
Gain (loss) on asset sales, before- tax					174
Gain (loss) on asset sales, after- tax					$ 151
[1]	The six months ended June 30, 2017 included a gain of $174 million ($151 million after tax) from the sale of surplus property in Ontario

Components of Net Periodic Bene

Components of Net Periodic Benefit Cost (Detail) - CAD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Pension benefits
Defined Benefit Plan Disclosure [Line Items]
Current service cost	$ 60	$ 54	$ 120	$ 109
Interest cost	75	79	151	158
Expected return on plan assets	(100)	(101)	(201)	(202)
Amortization of prior service cost	1	2	2	5
Amortization of actuarial loss (gain)	43	45	87	89
Net periodic benefit cost	79	79	159	159
Other postretirement benefits
Defined Benefit Plan Disclosure [Line Items]
Current service cost	4	4	8	8
Interest cost	6	6	11	12
Amortization of actuarial loss (gain)	1	2	3	4
Net periodic benefit cost	$ 11	$ 12	$ 22	$ 24

Financing and Additional Note40

Financing and Additional Notes and Loans Payable Information (Detail) - CAD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Debt-related interest	$ 32	$ 27	$ 62	$ 49
Capitalized interest	(6)	(10)	(13)	(22)
Net interest expense	26	17	49	27
Other interest				4
Total financing	$ 26	$ 17	$ 49	$ 31

Long-Term Debt (Detail)

Long-Term Debt (Detail) - CAD ($) $ in Millions		Jun. 30, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Long-term debt		$ 4,447	$ 4,447
Capital leases		545	558
Total long-term debt	[1]	$ 4,992	$ 5,005
[1]	Long-term debt included amounts to related parties of $4,447 million (2017 - $4,447 million).

Other Long-Term Obligations (De

Other Long-Term Obligations (Detail) - CAD ($) $ in Millions		Jun. 30, 2018	Dec. 31, 2017
Schedule of Other Liabilities [Line Items]
Employee retirement benefits	[1]	$ 1,501	$ 1,529
Asset retirement obligations and other environmental liabilities	[2]	1,471	1,460
Share-based incentive compensation liabilities		129	99
Other obligations	[3]	842	692
Total other long-term obligations	[4]	$ 3,943	$ 3,780
[1]	Total recorded employee retirement benefits obligations also included $56 million in current liabilities (2017 - $56 million).
[2]	Total asset retirement obligations and other environmental liabilities also included $101 million in current liabilities (2017 - $101 million).
[3]	Included carbon emission program obligations. Carbon emission program credits are recorded under other assets, including intangibles, net.
[4]	Other long-term obligations included amounts to related parties of $38 million (2017 - $60 million).

Other Long-Term Obligations (Pa

Other Long-Term Obligations (Parenthetical) (Detail) - CAD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Schedule of Other Liabilities [Line Items]
Employee retirement benefit obligations in current liabilities	$ 56	$ 56
Asset retirement obligations and other environmental liabilities in current liabilities	$ 101	$ 101

Other long-term obligations - A

Other long-term obligations - Additional Information (Detail) - CAD ($) $ in Millions		Jun. 30, 2018	Dec. 31, 2017
Other long-term obligations	[1]	$ 3,943	$ 3,780
Environmental Obligations Noncurrent [Member]
Other long-term obligations		$ 65
[1]	Other long-term obligations included amounts to related parties of $38 million (2017 - $60 million).

Summary of Common Shares (Detai

Summary of Common Shares (Detail) - shares	Jun. 30, 2018	Dec. 31, 2017	Dec. 31, 2016
Class of Stock [Line Items]
Authorized	1,100,000,000	1,100,000,000
Common shares outstanding	802,680,000	831,242,000	847,599,000

Common Shares - Additional Info

Common Shares - Additional Information (Detail) - shares	6 Months Ended
	Jun. 30, 2018	Jun. 27, 2018	Jun. 13, 2018	Jun. 13, 2017
Class of Stock [Line Items]
Exxon Mobil Corporation's ownership interest in Imperial	69.60%
Normal course issuer bid share repurchase shares authorized	42,326,545	40,391,196
Percent of total shares			5.00%	5.00%
Normal course issuer bid share repurchase term, months	12 months

Common Share Activities (Detail

Common Share Activities (Detail) - CAD ($) shares in Thousands, $ in Millions		6 Months Ended		12 Months Ended
		Jun. 30, 2018		Dec. 31, 2017
Class of Stock [Line Items]
Common stock beginning balance, shares		831,242		847,599
Issued under employee share-based awards, shares				2
Purchases at stated value, shares		(28,562)		(16,359)
Common stock, ending balance, shares		802,680		831,242
Common stock beginning balance, value		$ 1,536	[1]	$ 1,566
Issued under employee share-based awards, value		0		0
Common stock, ending balance, value	[1]	1,483		1,536
Common Stock
Class of Stock [Line Items]
Purchases at stated value, value		$ (53)		$ (30)
[1]	Number of common shares authorized and outstanding were 1,100 million and 803 million, respectively (2017 - 1,100 million and 831 million, respectively).

Calculation of basic and dilute

Calculation of basic and diluted earnings per common share (Detail) - CAD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Net income (loss) per common share - basic
Net income (loss)	$ 196	$ (77)	$ 712	$ 256
Weighted average number of common shares outstanding (millions of shares)	816.1	847	822.6	847.3
Net income (loss) per common share (dollars)	$ 0.24	$ (0.09)	$ 0.86	$ 0.30
Net income (loss) per common share - diluted
Net income (loss)	$ 196	$ (77)	$ 712	$ 256
Weighted average number of common shares outstanding (millions of shares)	816.1	847	822.6	847.3
Effect of employee share-based awards (millions of shares)	2.7	2.9	2.6	2.8
Weighted average number of common shares outstanding, assuming dilution (millions of shares)	818.8	849.9	825.2	850.1
Net income (loss) per common share (dollars)	$ 0.24	$ (0.09)	$ 0.86	$ 0.30

Summary of Earnings Reinvested

Summary of Earnings Reinvested (Detail) - CAD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Retained Earnings Adjustments [Line Items]
Earnings reinvested at beginning of period	$ 24,861	$ 25,558	$ 24,714	$ 25,352
Net income (loss) for the period	196	(77)	712	256
Share purchases in excess of stated value	(853)	(121)	(1,090)	(121)
Dividends declared	(155)	(136)	(287)	(263)
Earnings reinvested at end of period	$ 24,049	$ 25,224	$ 24,049	$ 25,224

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Income (Loss) (Detail) - CAD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at January 1			$ (1,815)	$ (1,897)
Current period change excluding amounts reclassified from accumulated other comprehensive income			(19)	41
Amounts reclassified from accumulated other comprehensive income	$ 33	$ 36	67	72
Balance at June 30	$ (1,767)	$ (1,784)	$ (1,767)	$ (1,784)

Amounts Reclassified Out of Acc

Amounts Reclassified Out of Accumulated Other Comprehensive Income (Loss) (Detail) - CAD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Reclassification Adjustment out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amortization of postretirement benefits liability adjustment included in net periodic benefit cost	[1]	$ (46)	$ (49)	$ (92)	$ (98)
[1]	This accumulated other comprehensive income component is included in the computation of net periodic benefit cost (note 6).

Income Tax Expense (Credit) for

Income Tax Expense (Credit) for Components of Other Comprehensive Income (Loss) (Detail) - CAD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Postretirement benefits liability adjustment (excluding amortization)			$ (7)	$ 16
Amortization of postretirement benefits liability adjustment included in net periodic benefit cost	$ 13	$ 13	25	26
Total	$ 13	$ 13	$ 18	$ 42

Recently Issued Accounting St53

Recently Issued Accounting Standards - Additional Information (Detail) - Scenario, Plan - Adjustments for New Accounting Pronouncement	Jan. 01, 2019CAD ($)
Minimum
Operating lease right of use assets	$ 200,000,000
Operating lease liability	200,000,000
Maximum
Operating lease right of use assets	250,000,000
Operating lease liability	$ 250,000,000