Imperial Oil Limited (IMO) 10-Q 7 Aug 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 30, 2019shares
Document and Entity Information [Abstract]
Document Type	10-Q
Entity Interactive Data Current	Yes
Document Quarterly Report	true
Document Transition Report	false
Amendment Flag	false
Document Period End Date	Jun. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Entity Registrant Name	IMPERIAL OIL LTD
Entity Central Index Key	0000049938
Entity File Number	0-12014
Entity Tax Identification Number	98-0017682
Entity Incorporation, State or Country Code	CA
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Address, Address Line One	505 Quarry Park Boulevard S.E.
Entity Address, City or Town	Calgary
Entity Address, State or Province	AB
Entity Address, Postal Zip Code	T2C 5N1
Entity Address, Country	CA
City Area Code	1-800
Local Phone Number	567-3776
Entity Common Stock, Shares Outstanding	762,773,619

Consolidated statement of incom

Consolidated statement of income - CAD ($) $ in Millions		3 Months Ended				6 Months Ended
		Jun. 30, 2019		Jun. 30, 2018		Jun. 30, 2019		Jun. 30, 2018
Revenues and other income
Revenues	[1]	$ 9,228	[2]	$ 9,516	[2]	$ 17,193	[3]	$ 17,416	[3]
Investment and other income (note 4)		33		27		50		61
Total revenues and other income		9,261		9,543		17,243		17,477
Expenses
Exploration		5		1		38		9
Purchases of crude oil and products	[4]	5,662		6,537		10,557		11,317
Production and manufacturing	[5]	1,715		1,646		3,310		3,077
Selling and general	[5]	236		273		449		467
Federal excise tax and fuel charge		463		412		857		809
Depreciation and depletion		392		358		782		735
Non-service pension and postretirement benefit		36		26		72		53
Financing (note 6)	[6]	23		26		51		49
Total expenses		8,532		9,279		16,116		16,516
Income (loss) before income taxes		729		264		1,127		961
Income taxes		(483)		68		(378)		249
Net income (loss)		$ 1,212		$ 196		$ 1,505		$ 712
Per share information (Canadian dollars)
Net income (loss) per common share - basic (note 11)		$ 1.58		$ 0.24		$ 1.95		$ 0.86
Net income (loss) per common share - diluted (note 11)		$ 1.57		$ 0.24		$ 1.94		$ 0.86
[1]	Amounts from related parties included in revenues. 2,234 1,769 3,956 3,142
[2]	Included export sales to the United States of $2,152 million (2018 - $1,561 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 $3,816 million (2018 - $2,768 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. 908 1,374 1,636 2,266
[5]	Amounts to related parties included in production and manufacturing, and selling and general expenses. 161 156 322 297
[6]	Amounts to related parties included in financing, (note 6). 24 22 52 42

Consolidated statement of inc_2

Consolidated statement of income (Parenthetical) - CAD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Amounts from related parties included in revenues	$ 2,234	$ 1,769	$ 3,956	$ 3,142
Amounts to related parties included in purchases of crude oil and products	908	1,374	1,636	2,266
Amounts to related parties included in production and manufacturing, and selling and general expenses	161	156	322	297
Amounts to related parties included in financing (note 6)	$ 24	$ 22	$ 52	$ 42

Consolidated statement of compr

Consolidated statement of comprehensive income - CAD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Net income (loss)	$ 1,212	$ 196	$ 1,505	$ 712
Other comprehensive income (loss), net of income taxes
Postretirement benefits liability adjustment (excluding amortization)	0	0	18	(19)
Amortization of postretirement benefits liability adjustment included in net periodic benefit costs	28	33	55	67
Total other comprehensive income (loss)	28	33	73	48
Comprehensive income (loss)	$ 1,240	$ 229	$ 1,578	$ 760

Consolidated balance sheet

Consolidated balance sheet - CAD ($) $ in Millions		Jun. 30, 2019		Dec. 31, 2018
Current assets
Cash		$ 1,087	[1]	$ 988
Accounts receivable, less estimated doubtful accounts	[2]	3,134		2,529
Inventories of crude oil and products		1,228		1,297
Materials, supplies and prepaid expenses		631		541
Total current assets		6,080		5,355
Investments and long-term receivables	[3]	894		857
Property, plant and equipment,		54,263		53,944
less accumulated depreciation and depletion		(20,025)		(19,719)
Property, plant and equipment, net		34,238		34,225
Goodwill		186		186
Other assets, including intangibles, net		531		833
Total assets		41,929	[4],[5]	41,456
Current liabilities
Notes and loans payable	[6]	200		202
Accounts payable and accrued liabilities (note 9)	[2]	3,985		3,688
Income taxes payable		28		65
Total current liabilities		4,213		3,955
Long-term debt (note 7)	[7]	4,968		4,978
Other long-term obligations (note 9)	[8]	3,076		2,943
Deferred income tax liabilities		4,650		5,091
Total liabilities		16,907		16,967
Shareholders' equity
Common shares at stated value (note 11)	[9]	1,410		1,446
Earnings reinvested		25,056		24,560
Accumulated other comprehensive income (loss) (note 12)		(1,444)		(1,517)
Total shareholders' equity		25,022		24,489
Total liabilities and shareholders' equity		$ 41,929		$ 41,456
[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 $1,200 million (2018 - $666 million).
[3]	Investments and long-term receivables included amounts from related parties of $249 million (2018 - $146 million).
[4]	Effective January 1, 2019, Imperial adopted the Financial Accounting Standards Board’s standard, Leases (Topic 842), as amended. As at June 30, 2019, Total assets include operating lease right of use assets of $261 million. An election was made not to restate prior periods. See note 8 for additional details.
[5]	The company removed $570 million from Total assets and corresponding liabilities associated with the Government of Ontario’s revocation of its cap and trade legislation.
[6]	Notes and loans payable included amounts to related parties of $75 million (2018 - $75 million).
[7]	Long-term debt included amounts to related parties of $4,447 million (2018 - $4,447 million).
[8]	Other long-term obligations included amounts to related parties of $0 million (2018 - $15 million).
[9]	Number of common shares authorized and outstanding were 1,100 million and 763 million, respectively (2018 - 1,100 million and 783 million, respectively).

Consolidated balance sheet (Par

Consolidated balance sheet (Parenthetical) - CAD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Amounts receivable (payable) from (to) related parties	$ 1,200	$ 666
Due to related parties, current	$ 75	$ 75
Common shares authorized	1,100,000,000	1,100,000,000
Common shares outstanding	763,000,000	783,000,000
Investments and Long Term Receivables
Due from related parties	$ 249	$ 146
Long-term debt
Due to related parties	4,447	4,447
Other long-term obligations
Due to related parties	$ 0	$ 15

Consolidated statement of share

Consolidated statement of shareholders' equity - CAD ($) $ in Millions	Total	Common shares at stated value (note 11)	Earnings reinvested	Accumulated other comprehensive income (loss) (note 18)
At beginning of period at Dec. 31, 2017		$ 1,536	$ 24,714	$ (1,815)
Net income (loss) for the year	$ 712		712
Issued under the stock option plan		0
Share purchases at stated value		(53)
Share purchases in excess of stated value			(1,090)
Dividends declared			(287)
Other comprehensive income (loss)	48			48
At end of period at Jun. 30, 2018	23,765	1,483	24,049	(1,767)
At beginning of period at Dec. 31, 2017		1,536	24,714	(1,815)
Share purchases at stated value		(90)
At end of period at Dec. 31, 2018	24,489	1,446	24,560	(1,517)
At beginning of period at Mar. 31, 2018		1,523	24,861	(1,800)
Net income (loss) for the year	196		196
Issued under the stock option plan		0
Share purchases at stated value		(40)
Share purchases in excess of stated value			(853)
Dividends declared			(155)
Other comprehensive income (loss)	33			33
At end of period at Jun. 30, 2018	23,765	1,483	24,049	(1,767)
At beginning of period at Dec. 31, 2018	24,489	1,446	24,560	(1,517)
Net income (loss) for the year	1,505		1,505
Issued under the stock option plan		0
Share purchases at stated value		(36)
Share purchases in excess of stated value			(693)
Dividends declared			(316)
Other comprehensive income (loss)	73			73
At end of period at Jun. 30, 2019	25,022	1,410	25,056	(1,444)
At beginning of period at Mar. 31, 2019		1,427	24,364	(1,472)
Net income (loss) for the year	1,212		1,212
Issued under the stock option plan		0
Share purchases at stated value		(17)
Share purchases in excess of stated value			(351)
Dividends declared			(169)
Other comprehensive income (loss)	28			28
At end of period at Jun. 30, 2019	$ 25,022	$ 1,410	$ 25,056	$ (1,444)

Consolidated statement of cash

Consolidated statement of cash flows - CAD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Operating activities
Net income (loss)		$ 1,212	$ 196	$ 1,505	$ 712
Adjustments for non-cash items:
Depreciation and depletion		392	358	782	735
(Gain) loss on asset sales (note 4)		(11)	(9)	(6)	(19)
Deferred income taxes and other		(471)	24	(475)	209
Changes in operating assets and liabilities:
Accounts receivable		99	(340)	(605)	87
Inventories, materials, supplies and prepaid expenses		(40)	40	(21)	(177)
Income taxes payable		(9)	16	(37)	32
Accounts payable and accrued liabilities		(175)	439	728	24
All other items - net	[1],[2]	29	135	158	241
Cash flows from (used in) operating activities		1,026	859	2,029	1,844
Investing activities
Additions to property, plant and equipment	[2]	(394)	(357)	(825)	(728)
Proceeds from asset sales (note 4)		14	9	36	21
Loan to equity company		(49)	(31)	(103)	(37)
Cash flows from (used in) investing activities		(429)	(379)	(892)	(744)
Financing activities
Reduction in finance lease obligations (note 8)		(6)	(7)	(13)	(13)
Dividends paid		(147)	(132)	(296)	(266)
Common shares purchased (note 11)		(368)	(893)	(729)	(1,143)
Cash flows from (used in) financing activities		(521)	(1,032)	(1,038)	(1,422)
Increase (decrease) in cash		76	(552)	99	(322)
Cash at beginning of period		1,011	1,425	988	1,195
Cash at end of period	[3]	$ 1,087	$ 873	$ 1,087	$ 873
[1]	Included contribution to registered pension plans. (57) (57) (98) (101)
[2]	The impact of carbon emission programs are included in additions to property, plant and equipment, and all other items, net.
[3]	Cash is composed of cash in bank and cash equivalents at cost. Cash equivalents are all highly liquid securities with maturity of three months or less when purchased.

Consolidated statement of cas_2

Consolidated statement of cash flows (Parenthetical) - CAD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Included contribution to registered pension plans	$ (57)	$ (57)	$ (98)	$ (101)
Accounts payable and accrued liabilities
Non-cash adjustments to accrued liabilities and all other items			$ 570

Basis of financial statement pr

Basis of financial statement preparation	6 Months Ended
	Jun. 30, 2019
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 2018 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, 2019, 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, 2019
Accounting changes	2. Accounting changes Effective January 1, 2019, Imperial adopted the Financial Accounting Standards Board’s standard, Leases (Topic 842)

Business segments

Business segments	6 Months Ended
	Jun. 30, 2019
Business segments	3. Business segments Second Quarter Upstream Downstream Chemical millions of Canadian dollars 2019 2018 2019 2018 2019 2018 Revenues and other income Revenues (a) 2,587 2,318 6,375 6,870 266 328 Intersegment sales 1,116 650 487 332 48 74 Investment and other income (note 4) 4 3 19 19 - - 3,707 2,971 6,881 7,221 314 402 Expenses Exploration 5 1 - - - - Purchases of crude oil and products 1,802 1,573 5,338 5,803 171 216 Production and manufacturing 1,171 1,106 474 488 70 52 Selling and general - - 201 197 23 23 Federal excise tax and fuel charge - - 463 412 - - Depreciation and depletion 338 300 46 49 3 4 Non-service - - - - - - Financing (note 6) - - - - - - Total expenses 3,316 2,980 6,522 6,949 267 295 Income (loss) before income taxes 391 (9 ) 359 272 47 107 Income taxes (594 ) (3 ) 101 71 9 29 Net income (loss) 985 (6 ) 258 201 38 78 Cash flows from (used in) operating activities 585 (10 ) 423 776 52 116 Capital and exploration expenditures (b) 301 183 111 88 6 7 Second Quarter Corporate and other Eliminations Consolidated millions of Canadian dollars 2019 2018 2019 2018 2019 2018 Revenues and other income Revenues (a) - - - - 9,228 9,516 Intersegment sales - - (1,651 ) (1,056 ) - - Investment and other income (note 4) 10 5 - - 33 27 10 5 (1,651 ) (1,056 ) 9,261 9,543 Expenses Exploration - - - - 5 1 Purchases of crude oil and products - - (1,649 ) (1,055 ) 5,662 6,537 Production and manufacturing - - - - 1,715 1,646 Selling and general 14 54 (2 ) (1 ) 236 273 Federal excise tax and fuel charge - - - - 463 412 Depreciation and depletion 5 5 - - 392 358 Non-service 36 26 - - 36 26 Financing (note 6) 23 26 - - 23 26 Total expenses 78 111 (1,651 ) (1,056 ) 8,532 9,279 Income (loss) before income taxes (68 ) (106 ) - - 729 264 Income taxes 1 (29 ) - - (483 ) 68 Net income (loss) (69 ) (77 ) - - 1,212 196 Cash flows from (used in) operating activities (34 ) (23 ) - - 1,026 859 Capital and exploration expenditures (b) 11 6 - - 429 284 (a) Included export sales to the United States of $ 2,152 1,561 (b) Capital and exploration expenditures (CAPEX) include exploration expenses, additions to property, plant and equipment, additions to finance 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 2019 2018 2019 2018 2019 2018 Revenues and other income Revenues (a) 4,827 4,307 11,849 12,477 517 632 Intersegment sales 2,064 1,307 935 694 120 147 Investment and other income (note 4) 4 4 29 41 - - 6,895 5,618 12,813 13,212 637 779 Expenses Exploration 38 9 - - - - Purchases of crude oil and products 3,388 2,947 9,920 10,097 364 418 Production and manufacturing 2,327 2,118 855 856 128 103 Selling and general - - 380 370 44 44 Federal excise tax and fuel charge - - 857 809 - - Depreciation and depletion 672 618 92 100 7 7 Non-service - - - - - - Financing (note 6) - - - - - - Total expenses 6,425 5,692 12,104 12,232 543 572 Income (loss) before income taxes 470 (74 ) 709 980 94 207 Income taxes (573 ) (24 ) 194 258 22 56 Net income (loss) 1,043 (50 ) 515 722 72 151 Cash flows from (used in) operating activities 865 327 1,155 1,366 100 199 Capital and exploration expenditures (b) 673 389 240 145 23 11 Total assets as at June 30 (c) (d) 35,059 34,781 5,041 5,090 451 408 Six Months to June 30 Corporate and other Eliminations Consolidated millions of Canadian dollars 2019 2018 2019 2018 2019 2018 Revenues and other income Revenues (a) - - - - 17,193 17,416 Intersegment sales - - (3,119 ) (2,148 ) - - Investment and other income (note 4) 17 16 - - 50 61 17 16 (3,119 ) (2,148 ) 17,243 17,477 Expenses Exploration - - - - 38 9 Purchases of crude oil and products - - (3,115 ) (2,145 ) 10,557 11,317 Production and manufacturing - - - - 3,310 3,077 Selling and general 29 56 (4 ) (3 ) 449 467 Federal excise tax and fuel charge - - - - 857 809 Depreciation and depletion 11 10 - - 782 735 Non-service 72 53 - - 72 53 Financing (note 6) 51 49 - - 51 49 Total expenses 163 168 (3,119 ) (2,148 ) 16,116 16,516 Income (loss) before income taxes (146 ) (152 ) - - 1,127 961 Income taxes (21 ) (41 ) - - (378 ) 249 Net income (loss) (125 ) (111 ) - - 1,505 712 Cash flows from (used in) operating activities (91 ) (48 ) - - 2,029 1,844 Capital and exploration expenditures (b) 22 13 - - 958 558 Total assets as at June 30 (c) (d) 1,822 1,438 (444 ) (327 ) 41,929 41,390 (a) Included export sales to the United States of $ 3,816 2,768 (b) Capital and exploration expenditures (CAPEX) include exploration expenses, additions to property, plant and equipment, additions to finance leases, additional investments and acquisitions. CAPEX excludes the purchase of carbon emission credits. (c) Effective January 1, 2019, Imperial adopted the Financial Accounting Standards Board’s standard, Leases (Topic 842) 261 (d) The company removed $570 million from Total assets and corresponding liabilities associated with the Government of Ontario’s revocation of its cap and trade legislation.

Investment and other income

Investment and other income	6 Months Ended
	Jun. 30, 2019
Investment and other income	4. Investment and other income Investment and other income included gains and losses on asset sales as follows: Second Quarter Six Months to June 30 millions of Canadian dollars 2019 2018 2019 2018 Proceeds from asset sales 14 9 36 21 Book value of asset sales 3 - 30 2 Gain (loss) on asset sales, before tax 11 9 6 19 Gain (loss) on asset sales, after tax 10 8 6 15

Employee retirement benefits

Employee retirement benefits	6 Months Ended
	Jun. 30, 2019
Employee retirement benefits	5. Employee retirement benefits The components of net benefit cost were as follows: Second Quarter Six Months to June 30 millions of Canadian dollars 2019 2018 2019 2018 Pension benefits: Current service cost 57 60 114 120 Interest cost 81 75 162 151 Expected return on plan assets (88 ) (100 ) (175 ) (201 ) Amortization of prior service cost - 1 - 2 Amortization of actuarial loss (gain) 38 43 75 87 Net periodic benefit cost 88 79 176 159 Other postretirement benefits: Current service cost 4 4 8 8 Interest cost 6 6 11 11 Amortization of actuarial loss (gain) (1 ) 1 (1 ) 3 Net periodic benefit cost 9 11 18 22

Financing and additional notes

Financing and additional notes and loans payable information	6 Months Ended
	Jun. 30, 2019
Financing and additional notes and loans payable information	6. Financing and additional notes and loans payable information Second Quarter Six Months to June 30 millions of Canadian dollars 2019 2018 2019 2018 Debt-related interest 34 32 73 62 Capitalized interest (11 ) (6 ) (22 ) (13 ) Net interest expense 23 26 51 49 Other interest - - - - Total financing 23 26 51 49

Long-term debt

Long-term debt	6 Months Ended
	Jun. 30, 2019
Long-term debt	7. Long-term debt As at As at millions of Canadian dollars 2019 2018 Long-term debt 4,447 4,447 Finance leases (a) 521 531 Total long-term debt 4,968 4,978 (a) Maturity analysis of finance lease liabilities is disclosed in note 8.

Leases

Leases	6 Months Ended
	Jun. 30, 2019
Leased facilities	8. Leases The company generally purchases the property, plant and equipment used in operations, but there are situations where assets are leased, primarily rail cars, marine vessels, storage tanks and other moveable equipment. Right of use assets and lease liabilities are established on the balance sheet for leases with an expected term greater than one year, by discounting the amounts fixed in the lease agreement for the duration of the lease which is reasonably certain, considering the probability of exercising any early termination and extension options. The portion of the fixed payment related to service costs for long-term transportation agreements is excluded from the calculation of right of use assets and lease liabilities. Usually, assets are leased only for a portion of their useful lives and are accounted for as operating leases. In limited situations assets are leased for nearly all of their useful lives and are accounted for as finance leases. In general, leases are capitalized using the company’s incremental borrowing rate. Variable payments under these lease agreements are not significant. Residual value guarantees, restrictions, or covenants related to leases, and transactions with related parties are also not significant. The company’s activities as a lessor are not material. At adoption of the lease accounting change (see note 2), on January 1, 2019, an operating lease liability of $ 298 298 The table below summarizes the total lease cost incurred: Second Quarter 2019 Six Months to June 30 2019 millions of Canadian dollars Operating Finance Operating Finance Operating lease cost 37 74 Short-term and other (net of sublease rental income) 25 40 Amortization of right of use assets 14 27 Interest on lease liabilities 10 20 Total lease cost 62 24 114 47 The following table summarizes the amounts related to operating leases and finance leases recorded on the Consolidated balance sheet: As at June 30 2019 millions of Canadian dollars Operating Finance Right of use assets Included in Other assets, including intangibles, net 261 Included in Property, plant and equipment, net 574 Total right of use assets 261 574 Lease liability due within one year Included in Accounts payable and accrued liabilities 118 38 Included in Notes and loans payable 25 Long-term lease liability Included in Other long-term obligations 141 - Included in Long-term debt 521 Total lease liability 259 584 The maturity analysis of the company’s lease liabilities, weighted average remaining lease term and weighted average discount rates applied are summarized below: As at June 30 2019 millions of Canadian dollars, unless noted Operating Finance Maturity analysis of lease liabilities 2019 remaining months 68 55 2020 94 71 2021 46 50 2022 15 49 2023 13 48 2024 11 47 2025 and beyond 30 1,086 Total lease payments 277 1,406 Discount to present value (18 ) (822 ) Total lease liability 259 584 Weighted average remaining lease term (years) 4 41 Weighted average discount rate (percent) 2.7 7.5 In addition to the operating lease liabilities in the table immediately above, at June 30, 2019, additional undiscounted commitments for leases not yet commenced totalled $1 million. The table below summarizes the cash paid for amounts included in the measurement of lease liabilities and the right of use assets obtained in exchange for new lease liabilities: Second Quarter 2019 Six Months to June 30 2019 millions of Canadian dollars Operating Finance Operating Finance Cash paid for amounts included in the measurement of lease liabilities Cash flows from operating activities 37 73 Cash flows from financing activities 28 35 Non-cash right of use assets recorded for lease liabilities For January 1 adoption of Leases (Topic 842) 298 In exchange for new lease liabilities during the period 34 At December 31, 2018, the company held non-cancelable millions of Canadian dollars As at Payments due by period 2019 130 2020 82 2021 43 2022 13 2023 11 2024 and beyond 12 Total lease payments under minimum commitments (a) 291 (a) Net rental cost under cancelable and non-cancelable 221 206 253

Other long-term obligations

Other long-term obligations	6 Months Ended
	Jun. 30, 2019
Other long-term obligations	9. Other long-term obligations As at As at June 30 Dec 31 millions of Canadian dollars 2019 2018 Employee retirement benefits (a) 1,153 1,195 Asset retirement obligations and other environmental liabilities (b) 1,446 1,435 Share-based incentive compensation liabilities 95 78 Operating lease liability (c) 141 - Other obligations 241 235 Total other long-term obligations 3,076 2,943 (a) Total recorded employee retirement benefits obligations also included $ 55 55 (b) Total asset retirement obligations and other environmental liabilities also included $ 118 118 (c) Effective January 1, 2019, Imperial adopted the Financial Accounting Standards Board’s standard, Leases (Topic 842)

Financial instruments

Financial instruments	6 Months Ended
	Jun. 30, 2019
Financial Instruments Disclosure	10. Financial instruments 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 value of the company’s financial instruments and the recorded carrying value. At June 30, 2019 and December 31, 2018 the fair value of long-term debt ($ 4,447

Common shares

Common shares	6 Months Ended
	Jun. 30, 2019
Common shares	11. Common shares thousands of shares As of 2019 As of Dec 31 Authorized 1,100,000 1,100,000 Common shares outstanding 762,774 782,565 The 12-month 5 The current 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 shares Millions of dollars Balance as at December 31, 2017 831,242 1,536 Issued under employee share-based awards 2 - Purchases at stated value (48,679 ) (90 ) Balance as at December 31, 2018 782,565 1,446 Issued under employee share-based awards - - Purchases at stated value (19,791 ) (36 ) Balance as at June 30, 2019 762,774 1,410 The following table provides the calculation of basic and diluted earnings per common share and the dividends declared by the company on its outstanding common shares: Second Quarter Six Months to June 30 2019 2018 2019 2018 Net income (loss) per common share - basic Net income (loss) (millions of Canadian dollars) 1,212 196 1,505 712 Weighted average number of common shares outstanding (millions of shares) 767.4 816.1 772.5 822.6 Net income (loss) per common share (dollars) 1.58 0.24 1.95 0.86 Net income (loss) per common share - diluted Net income (loss) (millions of Canadian dollars) 1,212 196 1,505 712 Weighted average number of common shares outstanding (millions of shares) 767.4 816.1 772.5 822.6 Effect of employee share-based awards (millions of shares) 2.5 2.7 2.4 2.6 Weighted average number of common shares outstanding, assuming dilution (millions of shares) 769.9 818.8 774.9 825.2 Net income (loss) per common share (dollars) 1.57 0.24 1.94 0.86 Dividends per common share - declared (dollars) 0.22 0.19 0.41 0.35

Other comprehensive income (los

Other comprehensive income (loss) information	6 Months Ended
	Jun. 30, 2019
Other comprehensive income (loss) information	12. Other comprehensive income (loss) information Changes in accumulated other comprehensive income (loss): millions of Canadian dollars 2019 2018 Balance at January 1 (1,517 ) (1,815 ) Postretirement benefits liability adjustment: Current period change excluding amounts reclassified from accumulated other comprehensive income 18 (19 ) Amounts reclassified from accumulated other comprehensive income 55 67 Balance at June 30 (1,444 ) (1,767 ) Amounts reclassified out of accumulated other comprehensive income (loss) - before-tax Second Quarter Six Months to June 30 millions of Canadian dollars 2019 2018 2019 2018 Amortization of postretirement benefits liability adjustment included in net periodic benefit cost (a) (37 ) (46 ) (74 ) (92 ) (a) This accumulated other comprehensive income component is included in the computation of net periodic benefit cost, (note 5). Income tax expense (credit) for components of other comprehensive income (loss): Second Quarter Six Months to June 30 millions of Canadian dollars 2019 2018 2019 2018 Postretirement benefits liability adjustments: Postretirement benefits liability adjustment (excluding amortization) - - 7 (7 ) Amortization of postretirement benefits liability adjustment included in net periodic benefit cost 9 13 19 25 Total 9 13 26 18

Recently issued accounting stan

Recently issued accounting standards	6 Months Ended
	Jun. 30, 2019
Recently issued accounting standards	13. Recently issued accounting standards Effective January 1, 2020, Imperial will adopt the Financial Accounting Standards Board’s update, Financial Instruments - Credit Losses (Topic 326)

Accounting changes (Policies)

Accounting changes (Policies)	6 Months Ended
	Jun. 30, 2019
Accounting changes	Effective January 1, 2019, Imperial adopted the Financial Accounting Standards Board’s standard, Leases (Topic 842)

Business segments (Tables)

Business segments (Tables)	6 Months Ended
	Jun. 30, 2019
Business Segments	Second Quarter Upstream Downstream Chemical millions of Canadian dollars 2019 2018 2019 2018 2019 2018 Revenues and other income Revenues (a) 2,587 2,318 6,375 6,870 266 328 Intersegment sales 1,116 650 487 332 48 74 Investment and other income (note 4) 4 3 19 19 - - 3,707 2,971 6,881 7,221 314 402 Expenses Exploration 5 1 - - - - Purchases of crude oil and products 1,802 1,573 5,338 5,803 171 216 Production and manufacturing 1,171 1,106 474 488 70 52 Selling and general - - 201 197 23 23 Federal excise tax and fuel charge - - 463 412 - - Depreciation and depletion 338 300 46 49 3 4 Non-service - - - - - - Financing (note 6) - - - - - - Total expenses 3,316 2,980 6,522 6,949 267 295 Income (loss) before income taxes 391 (9 ) 359 272 47 107 Income taxes (594 ) (3 ) 101 71 9 29 Net income (loss) 985 (6 ) 258 201 38 78 Cash flows from (used in) operating activities 585 (10 ) 423 776 52 116 Capital and exploration expenditures (b) 301 183 111 88 6 7 Second Quarter Corporate and other Eliminations Consolidated millions of Canadian dollars 2019 2018 2019 2018 2019 2018 Revenues and other income Revenues (a) - - - - 9,228 9,516 Intersegment sales - - (1,651 ) (1,056 ) - - Investment and other income (note 4) 10 5 - - 33 27 10 5 (1,651 ) (1,056 ) 9,261 9,543 Expenses Exploration - - - - 5 1 Purchases of crude oil and products - - (1,649 ) (1,055 ) 5,662 6,537 Production and manufacturing - - - - 1,715 1,646 Selling and general 14 54 (2 ) (1 ) 236 273 Federal excise tax and fuel charge - - - - 463 412 Depreciation and depletion 5 5 - - 392 358 Non-service 36 26 - - 36 26 Financing (note 6) 23 26 - - 23 26 Total expenses 78 111 (1,651 ) (1,056 ) 8,532 9,279 Income (loss) before income taxes (68 ) (106 ) - - 729 264 Income taxes 1 (29 ) - - (483 ) 68 Net income (loss) (69 ) (77 ) - - 1,212 196 Cash flows from (used in) operating activities (34 ) (23 ) - - 1,026 859 Capital and exploration expenditures (b) 11 6 - - 429 284 (a) Included export sales to the United States of $ 2,152 1,561 (b) Capital and exploration expenditures (CAPEX) include exploration expenses, additions to property, plant and equipment, additions to finance 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 2019 2018 2019 2018 2019 2018 Revenues and other income Revenues (a) 4,827 4,307 11,849 12,477 517 632 Intersegment sales 2,064 1,307 935 694 120 147 Investment and other income (note 4) 4 4 29 41 - - 6,895 5,618 12,813 13,212 637 779 Expenses Exploration 38 9 - - - - Purchases of crude oil and products 3,388 2,947 9,920 10,097 364 418 Production and manufacturing 2,327 2,118 855 856 128 103 Selling and general - - 380 370 44 44 Federal excise tax and fuel charge - - 857 809 - - Depreciation and depletion 672 618 92 100 7 7 Non-service - - - - - - Financing (note 6) - - - - - - Total expenses 6,425 5,692 12,104 12,232 543 572 Income (loss) before income taxes 470 (74 ) 709 980 94 207 Income taxes (573 ) (24 ) 194 258 22 56 Net income (loss) 1,043 (50 ) 515 722 72 151 Cash flows from (used in) operating activities 865 327 1,155 1,366 100 199 Capital and exploration expenditures (b) 673 389 240 145 23 11 Total assets as at June 30 (c) (d) 35,059 34,781 5,041 5,090 451 408 Six Months to June 30 Corporate and other Eliminations Consolidated millions of Canadian dollars 2019 2018 2019 2018 2019 2018 Revenues and other income Revenues (a) - - - - 17,193 17,416 Intersegment sales - - (3,119 ) (2,148 ) - - Investment and other income (note 4) 17 16 - - 50 61 17 16 (3,119 ) (2,148 ) 17,243 17,477 Expenses Exploration - - - - 38 9 Purchases of crude oil and products - - (3,115 ) (2,145 ) 10,557 11,317 Production and manufacturing - - - - 3,310 3,077 Selling and general 29 56 (4 ) (3 ) 449 467 Federal excise tax and fuel charge - - - - 857 809 Depreciation and depletion 11 10 - - 782 735 Non-service 72 53 - - 72 53 Financing (note 6) 51 49 - - 51 49 Total expenses 163 168 (3,119 ) (2,148 ) 16,116 16,516 Income (loss) before income taxes (146 ) (152 ) - - 1,127 961 Income taxes (21 ) (41 ) - - (378 ) 249 Net income (loss) (125 ) (111 ) - - 1,505 712 Cash flows from (used in) operating activities (91 ) (48 ) - - 2,029 1,844 Capital and exploration expenditures (b) 22 13 - - 958 558 Total assets as at June 30 (c) (d) 1,822 1,438 (444 ) (327 ) 41,929 41,390 (a) Included export sales to the United States of $ 3,816 2,768 (b) Capital and exploration expenditures (CAPEX) include exploration expenses, additions to property, plant and equipment, additions to finance leases, additional investments and acquisitions. CAPEX excludes the purchase of carbon emission credits. (c) Effective January 1, 2019, Imperial adopted the Financial Accounting Standards Board’s standard, Leases (Topic 842) 261 (d) The company removed $570 million from Total assets and corresponding liabilities associated with the Government of Ontario’s revocation of its cap and trade legislation.

Investment and other income (Ta

Investment and other income (Tables)	6 Months Ended
	Jun. 30, 2019
Gains and Losses on Asset Sales	Investment and other income included gains and losses on asset sales as follows: Second Quarter Six Months to June 30 millions of Canadian dollars 2019 2018 2019 2018 Proceeds from asset sales 14 9 36 21 Book value of asset sales 3 - 30 2 Gain (loss) on asset sales, before tax 11 9 6 19 Gain (loss) on asset sales, after tax 10 8 6 15

Employee retirement benefits (T

Employee retirement benefits (Tables)	6 Months Ended
	Jun. 30, 2019
Schedule of Net Benefit Costs [Table Text Block]	The components of net benefit cost were as follows: Second Quarter Six Months to June 30 millions of Canadian dollars 2019 2018 2019 2018 Pension benefits: Current service cost 57 60 114 120 Interest cost 81 75 162 151 Expected return on plan assets (88 ) (100 ) (175 ) (201 ) Amortization of prior service cost - 1 - 2 Amortization of actuarial loss (gain) 38 43 75 87 Net periodic benefit cost 88 79 176 159 Other postretirement benefits: Current service cost 4 4 8 8 Interest cost 6 6 11 11 Amortization of actuarial loss (gain) (1 ) 1 (1 ) 3 Net periodic benefit cost 9 11 18 22

Financing and additional note_2

Financing and additional notes and loans payable information (Tables)	6 Months Ended
	Jun. 30, 2019
Financing and Additional Notes and Loans Payable Information	Second Quarter Six Months to June 30 millions of Canadian dollars 2019 2018 2019 2018 Debt-related interest 34 32 73 62 Capitalized interest (11 ) (6 ) (22 ) (13 ) Net interest expense 23 26 51 49 Other interest - - - - Total financing 23 26 51 49

Long-term debt (Tables)

Long-term debt (Tables)	6 Months Ended
	Jun. 30, 2019
Long-Term Debt	As at As at millions of Canadian dollars 2019 2018 Long-term debt 4,447 4,447 Finance leases (a) 521 531 Total long-term debt 4,968 4,978 (a) Maturity analysis of finance lease liabilities is disclosed in note 8.

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2019
Schedule Of Lease Cost	The table below summarizes the total lease cost incurred: Second Quarter 2019 Six Months to June 30 2019 millions of Canadian dollars Operating Finance Operating Finance Operating lease cost 37 74 Short-term and other (net of sublease rental income) 25 40 Amortization of right of use assets 14 27 Interest on lease liabilities 10 20 Total lease cost 62 24 114 47
Schedule Of Operating Leases and Finance Leases Recorded In Balance Sheet	The following table summarizes the amounts related to operating leases and finance leases recorded on the Consolidated balance sheet: As at June 30 2019 millions of Canadian dollars Operating Finance Right of use assets Included in Other assets, including intangibles, net 261 Included in Property, plant and equipment, net 574 Total right of use assets 261 574 Lease liability due within one year Included in Accounts payable and accrued liabilities 118 38 Included in Notes and loans payable 25 Long-term lease liability Included in Other long-term obligations 141 - Included in Long-term debt 521 Total lease liability 259 584
Maturity Of Lease Liabilities	The maturity analysis of the company’s lease liabilities, weighted average remaining lease term and weighted average discount rates applied are summarized below: As at June 30 2019 millions of Canadian dollars, unless noted Operating Finance Maturity analysis of lease liabilities 2019 remaining months 68 55 2020 94 71 2021 46 50 2022 15 49 2023 13 48 2024 11 47 2025 and beyond 30 1,086 Total lease payments 277 1,406 Discount to present value (18 ) (822 ) Total lease liability 259 584 Weighted average remaining lease term (years) 4 41 Weighted average discount rate (percent) 2.7 7.5
Schedule Of Measurement Of Lease Liabilities and Right Of Use Assets	Second Quarter 2019 Six Months to June 30 2019 millions of Canadian dollars Operating Finance Operating Finance Cash paid for amounts included in the measurement of lease liabilities Cash flows from operating activities 37 73 Cash flows from financing activities 28 35 Non-cash right of use assets recorded for lease liabilities For January 1 adoption of Leases (Topic 842) 298 In exchange for new lease liabilities during the period 34
Schedule of Operating Leases	At December 31, 2018, the company held non-cancelable millions of Canadian dollars As at Payments due by period 2019 130 2020 82 2021 43 2022 13 2023 11 2024 and beyond 12 Total lease payments under minimum commitments (a) 291 (a) Net rental cost under cancelable and non-cancelable 221 206 253

Other long-term obligations (Ta

Other long-term obligations (Tables)	6 Months Ended
	Jun. 30, 2019
Other Long-Term Obligations	As at As at June 30 Dec 31 millions of Canadian dollars 2019 2018 Employee retirement benefits (a) 1,153 1,195 Asset retirement obligations and other environmental liabilities (b) 1,446 1,435 Share-based incentive compensation liabilities 95 78 Operating lease liability (c) 141 - Other obligations 241 235 Total other long-term obligations 3,076 2,943 (a) Total recorded employee retirement benefits obligations also included $ 55 55 (b) Total asset retirement obligations and other environmental liabilities also included $ 118 118 (c) Effective January 1, 2019, Imperial adopted the Financial Accounting Standards Board’s standard, Leases (Topic 842)

Common shares (Tables)

Common shares (Tables)	6 Months Ended
	Jun. 30, 2019
Summary of Common Shares	thousands of shares As of 2019 As of Dec 31 Authorized 1,100,000 1,100,000 Common shares outstanding 762,774 782,565
Common Share Activities	The company’s common share activities are summarized below: Thousands of shares Millions of dollars Balance as at December 31, 2017 831,242 1,536 Issued under employee share-based awards 2 - Purchases at stated value (48,679 ) (90 ) Balance as at December 31, 2018 782,565 1,446 Issued under employee share-based awards - - Purchases at stated value (19,791 ) (36 ) Balance as at June 30, 2019 762,774 1,410
Calculation of Basic and Diluted Earnings Per Share	The following table provides the calculation of basic and diluted earnings per common share and the dividends declared by the company on its outstanding common shares: Second Quarter Six Months to June 30 2019 2018 2019 2018 Net income (loss) per common share - basic Net income (loss) (millions of Canadian dollars) 1,212 196 1,505 712 Weighted average number of common shares outstanding (millions of shares) 767.4 816.1 772.5 822.6 Net income (loss) per common share (dollars) 1.58 0.24 1.95 0.86 Net income (loss) per common share - diluted Net income (loss) (millions of Canadian dollars) 1,212 196 1,505 712 Weighted average number of common shares outstanding (millions of shares) 767.4 816.1 772.5 822.6 Effect of employee share-based awards (millions of shares) 2.5 2.7 2.4 2.6 Weighted average number of common shares outstanding, assuming dilution (millions of shares) 769.9 818.8 774.9 825.2 Net income (loss) per common share (dollars) 1.57 0.24 1.94 0.86 Dividends per common share - declared (dollars) 0.22 0.19 0.41 0.35

Other comprehensive income (l_2

Other comprehensive income (loss) information (Tables)	6 Months Ended
	Jun. 30, 2019
Changes in Accumulated Other Comprehensive Income (Loss)	Changes in accumulated other comprehensive income (loss): millions of Canadian dollars 2019 2018 Balance at January 1 (1,517 ) (1,815 ) Postretirement benefits liability adjustment: Current period change excluding amounts reclassified from accumulated other comprehensive income 18 (19 ) Amounts reclassified from accumulated other comprehensive income 55 67 Balance at June 30 (1,444 ) (1,767 )
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 2019 2018 2019 2018 Amortization of postretirement benefits liability adjustment included in net periodic benefit cost (a) (37 ) (46 ) (74 ) (92 ) (a) This accumulated other comprehensive income component is included in the computation of net periodic benefit cost, (note 5).
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 2019 2018 2019 2018 Postretirement benefits liability adjustments: Postretirement benefits liability adjustment (excluding amortization) - - 7 (7 ) Amortization of postretirement benefits liability adjustment included in net periodic benefit cost 9 13 19 25 Total 9 13 26 18

Accounting changes - Additional

Accounting changes - Additional Information (Detail) - CAD ($) $ in Millions	Jun. 30, 2019	Jan. 01, 2019
Change in Accounting Estimate [Abstract]
Operating Lease, Right-of-Use Asset	$ 261	$ 298
Operating Lease, Liability	$ 259	$ 298

Business Segments (Detail)

Business Segments (Detail) - CAD ($) $ in Millions		3 Months Ended				6 Months Ended
		Jun. 30, 2019		Jun. 30, 2018		Jun. 30, 2019		Jun. 30, 2018		Dec. 31, 2018
Revenues and other income
Revenues	[1]	$ 9,228	[2]	$ 9,516	[2]	$ 17,193	[3]	$ 17,416	[3]
Intersegment sales		0		0		0		0
Investment and other income (note 4)		33		27		50		61
TOTAL OPERATING REVENUES, INTERSEGMENT SALES, INVESTMENT AND OTHER INCOME		9,261		9,543		17,243		17,477
Expenses
Exploration		5		1		38		9
Purchases of crude oil and products	[4]	5,662		6,537		10,557		11,317
Production and manufacturing	[5]	1,715		1,646		3,310		3,077
Selling and general	[5]	236		273		449		467
Federal excise tax and fuel charge		463		412		857		809
Depreciation and depletion		392		358		782		735
Non-service pension and postretirement benefit		36		26		72		53
Financing (note 6)	[6]	23		26		51		49
Total expenses		8,532		9,279		16,116		16,516
Income (loss) before income taxes		729		264		1,127		961
Income taxes		(483)		68		(378)		249
Net income (loss)		1,212		196		1,505		712
Cash flows from (used in) operating activities		1,026		859		2,029		1,844
Capital and exploration expenditures	[7]	429		284		958		558
Total assets as at June 30		41,929	[8],[9]	41,390	[8],[9]	41,929	[8],[9]	41,390	[8],[9]	$ 41,456
Consolidation, Eliminations
Revenues and other income
Revenues		0	[2]	0	[2]	0	[3]	0	[3]
Intersegment sales		(1,651)		(1,056)		(3,119)		(2,148)
Investment and other income (note 4)		0		0
TOTAL OPERATING REVENUES, INTERSEGMENT SALES, INVESTMENT AND OTHER INCOME		(1,651)		(1,056)		(3,119)		(2,148)
Expenses
Exploration		0		0		0		0
Purchases of crude oil and products		(1,649)		(1,055)		(3,115)		(2,145)
Production and manufacturing		0		0		0		0
Selling and general		(2)		(1)		(4)		(3)
Federal excise tax and fuel charge		0		0		0		0
Depreciation and depletion		0		0		0		0
Non-service pension and postretirement benefit		0		0		0		0
Financing (note 6)		0		0		0		0
Total expenses		(1,651)		(1,056)		(3,119)		(2,148)
Income (loss) before income taxes		0		0		0		0
Income taxes		0		0		0		0
Net income (loss)		0		0		0		0
Cash flows from (used in) operating activities		0		0		0		0
Capital and exploration expenditures		0		0		0		0
Total assets as at June 30	[8],[9]	(444)		(327)		(444)		(327)
Upstream
Revenues and other income
Revenues		2,587	[2]	2,318	[2]	4,827	[3]	4,307	[3]
Intersegment sales		1,116		650		2,064		1,307
Investment and other income (note 4)		4		3		4		4
TOTAL OPERATING REVENUES, INTERSEGMENT SALES, INVESTMENT AND OTHER INCOME		3,707		2,971		6,895		5,618
Expenses
Exploration		5		1		38		9
Purchases of crude oil and products		1,802		1,573		3,388		2,947
Production and manufacturing		1,171		1,106		2,327		2,118
Selling and general		0		0		0		0
Federal excise tax and fuel charge		0		0		0		0
Depreciation and depletion		338		300		672		618
Non-service pension and postretirement benefit		0		0		0		0
Financing (note 6)		0		0		0		0
Total expenses		3,316		2,980		6,425		5,692
Income (loss) before income taxes		391		(9)		470		(74)
Income taxes		(594)		(3)		(573)		(24)
Net income (loss)		985		(6)		1,043		(50)
Cash flows from (used in) operating activities		585		(10)		865		327
Capital and exploration expenditures	[7]	301		183		673		389
Total assets as at June 30	[8],[9]	35,059		34,781		35,059		34,781
Downstream
Revenues and other income
Revenues		6,375	[2]	6,870	[2]	11,849	[3]	12,477	[3]
Intersegment sales		487		332		935		694
Investment and other income (note 4)		19		19		29		41
TOTAL OPERATING REVENUES, INTERSEGMENT SALES, INVESTMENT AND OTHER INCOME		6,881		7,221		12,813		13,212
Expenses
Exploration		0		0		0		0
Purchases of crude oil and products		5,338		5,803		9,920		10,097
Production and manufacturing		474		488		855		856
Selling and general		201		197		380		370
Federal excise tax and fuel charge		463		412		857		809
Depreciation and depletion		46		49		92		100
Non-service pension and postretirement benefit		0		0		0		0
Financing (note 6)		0		0		0		0
Total expenses		6,522		6,949		12,104		12,232
Income (loss) before income taxes		359		272		709		980
Income taxes		101		71		194		258
Net income (loss)		258		201		515		722
Cash flows from (used in) operating activities		423		776		1,155		1,366
Capital and exploration expenditures	[7]	111		88		240		145
Total assets as at June 30	[8],[9]	5,041		5,090		5,041		5,090
Chemical
Revenues and other income
Revenues		266	[2]	328	[2]	517	[3]	632	[3]
Intersegment sales		48		74		120		147
Investment and other income (note 4)		0		0		0		0
TOTAL OPERATING REVENUES, INTERSEGMENT SALES, INVESTMENT AND OTHER INCOME		314		402		637		779
Expenses
Exploration		0		0		0		0
Purchases of crude oil and products		171		216		364		418
Production and manufacturing		70		52		128		103
Selling and general		23		23		44		44
Federal excise tax and fuel charge		0		0		0		0
Depreciation and depletion		3		4		7		7
Non-service pension and postretirement benefit		0		0		0		0
Financing (note 6)		0		0		0		0
Total expenses		267		295		543		572
Income (loss) before income taxes		47		107		94		207
Income taxes		9		29		22		56
Net income (loss)		38		78		72		151
Cash flows from (used in) operating activities		52		116		100		199
Capital and exploration expenditures	[7]	6		7		23		11
Total assets as at June 30	[8],[9]	451		408		451		408
Corporate and Other
Revenues and other income
Revenues		0	[2]	0	[2]	0	[3]	0	[3]
Intersegment sales		0		0		0		0
Investment and other income (note 4)		10		5		17		16
TOTAL OPERATING REVENUES, INTERSEGMENT SALES, INVESTMENT AND OTHER INCOME		10		5		17		16
Expenses
Exploration		0		0		0		0
Purchases of crude oil and products		0		0		0		0
Production and manufacturing		0		0		0		0
Selling and general		14		54		29		56
Federal excise tax and fuel charge		0		0		0		0
Depreciation and depletion		5		5		11		10
Non-service pension and postretirement benefit		36		26		72		53
Financing (note 6)		23		26		51		49
Total expenses		78		111		163		168
Income (loss) before income taxes		(68)		(106)		(146)		(152)
Income taxes		1		(29)		(21)		(41)
Net income (loss)		(69)		(77)		(125)		(111)
Cash flows from (used in) operating activities		(34)		(23)		(91)		(48)
Capital and exploration expenditures	[7]	11		6		22		13
Total assets as at June 30	[8],[9]	$ 1,822		$ 1,438		$ 1,822		$ 1,438
[1]	Amounts from related parties included in revenues. 2,234 1,769 3,956 3,142
[2]	Included export sales to the United States of $2,152 million (2018 - $1,561 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 $3,816 million (2018 - $2,768 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. 908 1,374 1,636 2,266
[5]	Amounts to related parties included in production and manufacturing, and selling and general expenses. 161 156 322 297
[6]	Amounts to related parties included in financing, (note 6). 24 22 52 42
[7]	Capital and exploration expenditures (CAPEX) include exploration expenses, additions to property, plant and equipment, additions to finance leases, additional investments and acquisitions. CAPEX excludes the purchase of carbon emission credits.
[8]	Effective January 1, 2019, Imperial adopted the Financial Accounting Standards Board’s standard, Leases (Topic 842), as amended. As at June 30, 2019, Total assets include operating lease right of use assets of $261 million. An election was made not to restate prior periods. See note 8 for additional details.
[9]	The company removed $570 million from Total assets and corresponding liabilities associated with the Government of Ontario’s revocation of its cap and trade legislation.

Business Segments (Parenthetica

Business Segments (Parenthetical) (Detail) - CAD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Jan. 01, 2019
Segment Reporting Information [Line Items]
Operating Lease, Right-of-Use Asset	$ 261		$ 261		$ 298
Accounts payable and accrued liabilities
Segment Reporting Information [Line Items]
Non-cash adjustments to accrued liabilities and all other items			570
United States Exports
Segment Reporting Information [Line Items]
Operating revenues	$ 2,152	$ 1,561	$ 3,816	$ 2,768

Gains and Losses on Asset Sales

Gains and Losses on Asset Sales (Detail) - CAD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Investment And Other Income [Line Items]
Proceeds from asset sales	$ 14	$ 9	$ 36	$ 21
Book value of asset sales	3	0	30	2
Gain (loss) on asset sales, before-tax	11	9	6	19
Gain (loss) on asset sales, after-tax	$ 10	$ 8	$ 6	$ 15

Components of Net Periodic Bene

Components of Net Periodic Benefit Cost (Detail) - CAD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Pension benefits
Current service cost	$ 57	$ 60	$ 114	$ 120
Interest cost	81	75	162	151
Expected return on plan assets	(88)	(100)	(175)	(201)
Amortization of prior service cost	0	1	0	2
Amortization of actuarial loss (gain)	38	43	75	87
Net periodic benefit cost	88	79	176	159
Other postretirement benefits
Current service cost	4	4	8	8
Interest cost	6	6	11	11
Amortization of actuarial loss (gain)	(1)	1	(1)	3
Net periodic benefit cost	$ 9	$ 11	$ 18	$ 22

Financing and Additional Note_3

Financing and Additional Notes and Loans Payable Information (Detail) - CAD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Debt-related interest		$ 34	$ 32	$ 73	$ 62
Capitalized interest		(11)	(6)	(22)	(13)
Net interest expense		23	26	51	49
Other interest		0	0	0	0
Total financing	[1]	$ 23	$ 26	$ 51	$ 49
[1]	Amounts to related parties included in financing, (note 6). 24 22 52 42

Long-Term Debt (Detail)

Long-Term Debt (Detail) - CAD ($) $ in Millions		Jun. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Long-term debt		$ 4,447	$ 4,447
Finance leases	[1]	521	531
Total long-term debt	[2]	$ 4,968	$ 4,978
[1]	Maturity analysis of finance lease liabilities is disclosed in note 8.
[2]	Long-term debt included amounts to related parties of $4,447 million (2018 - $4,447 million).

Leases - Additional Information

Leases - Additional Information (Detail) - CAD ($) $ in Millions		6 Months Ended
		Jun. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Operating Leased Assets [Line Items]
Undiscounted Commitments		$ 1
Operating Lease, Liability		259	$ 298
Operating Lease, Right-of-Use Asset		$ 261	$ 298
Operating Leases, Future Minimum Payments Due	[1]			$ 291
[1]	Net rental cost under cancelable and non-cancelable operating leases incurred in 2018 was $221 million (2017 - $206 million, 2016 - $253 million). Related rental income was not material.

Schedule Of Lease Cost (Details

Schedule Of Lease Cost (Details) - CAD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Operating leases [Member]
Lease, cost
Operating lease cost, Operating leases	$ 37	$ 74
Short-term and other (net of sublease rental income), Operating leases	25	40
Total lease cost	62	114
Finance leases [Member]
Lease, cost
Amortization of right of use assets	14	27
Interest on lease liabilities, Finance leases	10	20
Total lease cost	$ 24	$ 47

Schedule Of Operating Leases an

Schedule Of Operating Leases and Finance Leases Recorded In Balance Sheet (Detail) - CAD ($) $ in Millions		Jun. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Right of use assets
Right of use assets, Operating leases		$ 261	$ 298
Right of use assets, Finance leases		574
Long-term lease liability
Long-term lease liability, Operating leases	[1]	141		$ 0
Total Operating leases liability		259	$ 298
Total Finance leases liability		584
Other LongTerm Obligations [Member]
Long-term lease liability
Long-term lease liability, Operating leases		141
Long-term lease liability, Finance leases		0
Long-term Debt [Member]
Long-term lease liability
Long-term lease liability, Finance leases		521
Property, Plant and Equipment [Member]
Right of use assets
Right of use assets, Finance leases		574
Other Assets Including Intangible Assets [Member]
Right of use assets
Right of use assets, Operating leases		261
Accounts Payable and Accrued Liabilities [Member]
Lease liability due within one year
Lease liability due within one year, Operating leases		118
Lease liability due within one year, Finance leases		38
Notes and Loans Payable [Member]
Lease liability due within one year
Lease liability due within one year, Finance leases		$ 25
[1]	Effective January 1, 2019, Imperial adopted the Financial Accounting Standards Board’s standard, Leases (Topic 842), as amended. The standard requires all leases to be recorded on the balance sheet as a right of use asset and liability. The long-term lease liability for operating leases is included in Other long-term obligations (see note 8).

Maturity Of Lease Liabilities (

Maturity Of Lease Liabilities (Detail) - CAD ($) $ in Millions	Jun. 30, 2019	Jan. 01, 2019
Operating Lease
2019 remaining months	$ 68
2020	94
2021	46
2022	15
2023	13
2024	11
2025 and beyond	30
Total lease payments	277
Discount to present value	(18)
Total lease liability	$ 259	$ 298
Weighted average remaining lease term (years)	4 years
Weighted average discount rate (percent)	2.70%
Finance Lease
2019 remaining months	$ 55
2020	71
2021	50
2022	49
2023	48
2024	47
2025 and beyond	1,086
Total lease payments	1,406
Discount to present value	(822)
Total lease liability	$ 584
Weighted average remaining lease term (years)	41 years
Weighted average discount rate (percent)	7.50%

Schedule Of Measurement Of Leas

Schedule Of Measurement Of Lease Liabilities and Right Of Use Assets (Detail) - CAD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019	Jan. 01, 2019
Cash paid for amounts included in the measurement of lease liabilities
Cash flows from operating activities, Operating leases	$ 37	$ 73
Cash flows from financing activities, Finance leases	28	35
Non-cash right of use assets recorded for lease liabilities
For January 1 adoption of Leases	259	259	$ 298
In exchange for new lease liabilities during the period		34
Adoption of Leases Topic (842) [Member]
Non-cash right of use assets recorded for lease liabilities
For January 1 adoption of Leases	$ 298	$ 298

Schedule of Non Cancelable Oper

Schedule of Non Cancelable Operating Leases (Detail) $ in Millions	Dec. 31, 2018CAD ($)
Operating Leased Assets [Line Items]
2019	$ 130
2020	82
2021	43
2022	13
2023	11
2024 and beyond	12
Total lease payments under minimum commitments	$ 291	[1]
[1]	Net rental cost under cancelable and non-cancelable operating leases incurred in 2018 was $221 million (2017 - $206 million, 2016 - $253 million). Related rental income was not material.

Schedule of Non Cancelable Op_2

Schedule of Non Cancelable Operating Leases (Parenthetical) (Detail) - CAD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Operating Leased Assets [Line Items]
Net rental cost incurred for operating leases	$ 221	$ 206	$ 253

Other Long-Term Obligations (De

Other Long-Term Obligations (Detail) - CAD ($) $ in Millions		Jun. 30, 2019	Dec. 31, 2018
Schedule of Other Liabilities [Line Items]
Employee retirement benefits	[1]	$ 1,153	$ 1,195
Asset retirement obligations and other environmental liabilities	[2]	1,446	1,435
Share-based incentive compensation liabilities		95	78
Operating lease liability	[3]	141	0
Other obligations		241	235
Total other long-term obligations	[4]	$ 3,076	$ 2,943
[1]	Total recorded employee retirement benefits obligations also included $55 million in current liabilities (2018 - $55 million).
[2]	Total asset retirement obligations and other environmental liabilities also included $118 million in current liabilities (2018 - $118 million).
[3]	Effective January 1, 2019, Imperial adopted the Financial Accounting Standards Board’s standard, Leases (Topic 842), as amended. The standard requires all leases to be recorded on the balance sheet as a right of use asset and liability. The long-term lease liability for operating leases is included in Other long-term obligations (see note 8).
[4]	Other long-term obligations included amounts to related parties of $0 million (2018 - $15 million).

Other Long-Term Obligations (Pa

Other Long-Term Obligations (Parenthetical) (Detail) - CAD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Schedule of Other Liabilities [Line Items]
Employee retirement benefit obligations in current liabilities	$ 55	$ 55
Asset retirement obligations and other environmental liabilities in current liabilities	$ 118	$ 118

Financial Instruments - Additio

Financial Instruments - Additional Information (Detail) - CAD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Financial Instruments And Derivatives [Line Items]
Long-term Debt, Fair Value	$ 4,447	$ 4,447

Summary of Common Shares (Detai

Summary of Common Shares (Detail) - shares	Jun. 30, 2019	Dec. 31, 2018
Class of Stock [Line Items]
Authorized	1,100,000,000	1,100,000,000
Common shares outstanding	762,774,000	782,565,000

Common Shares - Additional Info

Common Shares - Additional Information (Detail) - shares	Jun. 27, 2018	Jun. 27, 2019	Jun. 13, 2019	Jun. 13, 2018
Class of Stock [Line Items]
Normal course issuer bid share repurchase shares authorized	40,391,196	38,211,086
Percent of total shares			5.00%	5.00%
Exxon Mobil Corporation's ownership interest in Imperial	69.60%	69.60%
Normal course issuer bid share repurchase term, months	12 months

Common Share Activities (Detail

Common Share Activities (Detail) - CAD ($) shares in Thousands, $ in Millions		3 Months Ended		6 Months Ended		12 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Class of Stock [Line Items]
Common stock beginning balance, shares				782,565
Common stock, ending balance, shares		762,774		762,774		782,565
Common stock beginning balance, value	[1]			$ 1,446
Common stock, ending balance, value	[1]	$ 1,410		$ 1,410		$ 1,446
Common Stock
Class of Stock [Line Items]
Common stock beginning balance, shares				782,565	831,242	831,242
Issued under employee share-based awards, shares				0		2
Purchases at stated value, shares				(19,791)		(48,679)
Common stock, ending balance, shares		762,774		762,774		782,565
Common stock beginning balance, value				$ 1,446	$ 1,536	$ 1,536
Issued under employee share-based awards, value				0		0
Purchases at stated value, value		$ (17)	$ (40)	(36)	$ (53)	(90)
Common stock, ending balance, value		$ 1,410		$ 1,410		$ 1,446
[1]	Number of common shares authorized and outstanding were 1,100 million and 763 million, respectively (2018 - 1,100 million and 783 million, respectively).

Calculation of basic and dilute

Calculation of basic and diluted earnings per common share and the dividend declared by the company on its outstanding common shares (Detail) - CAD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Net income (loss) per common share - basic
Net income (loss)	$ 1,212	$ 196	$ 1,505	$ 712
Weighted average number of common shares outstanding (millions of shares)	767.4	816.1	772.5	822.6
Net income (loss) per common share (dollars)	$ 1.58	$ 0.24	$ 1.95	$ 0.86
Net income (loss) per common share - diluted
Net income (loss)	$ 1,212	$ 196	$ 1,505	$ 712
Weighted average number of common shares outstanding (millions of shares)	767.4	816.1	772.5	822.6
Effect of employee share-based awards (millions of shares)	2.5	2.7	2.4	2.6
Weighted average number of common shares outstanding, assuming dilution (millions of shares)	769.9	818.8	774.9	825.2
Net income (loss) per common share (dollars)	$ 1.57	$ 0.24	$ 1.94	$ 0.86
Dividends per common share - declared (dollars)	$ 0.22	$ 0.19	$ 0.41	$ 0.35

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Income (Loss) (Detail) - CAD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at January 1			$ (1,517)	$ (1,815)
Current period change excluding amounts reclassified from accumulated other comprehensive income	$ 0	$ 0	18	(19)
Amounts reclassified from accumulated other comprehensive income	28	33	55	67
Balance at June 30	$ (1,444)	$ (1,767)	$ (1,444)	$ (1,767)

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, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
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]	$ (37)	$ (46)	$ (74)	$ (92)
[1]	This accumulated other comprehensive income component is included in the computation of net periodic benefit cost, (note 5).

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, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
Postretirement benefits liability adjustment (excluding amortization)	$ 0	$ 0	$ 7	$ (7)
Amortization of postretirement benefits liability adjustment included in net periodic benefit cost	9	13	19	25
Total	$ 9	$ 13	$ 26	$ 18