Imperial Oil Limited (IMO) 10-Q 6 Nov 19 2019 Q3 Quarterly report Financial data

Cover Page

Cover Page	9 Months Ended
	Sep. 30, 2019shares
Cover [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	Sep. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
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	752,947,924

Consolidated statement of incom

Consolidated statement of income - CAD ($) $ in Millions		3 Months Ended				9 Months Ended
		Sep. 30, 2019		Sep. 30, 2018		Sep. 30, 2019		Sep. 30, 2018
Revenues and other income
Revenues	[1]	$ 8,687	[2]	$ 9,697	[2]	$ 25,880	[3]	$ 27,113	[3]
Investment and other income (note 4)		49		35		99		96
Total revenues and other income		8,736		9,732		25,979		27,209
Expenses
Exploration		4		4		42		13
Purchases of crude oil and products	[4]	5,399		6,099		15,956		17,416
Production and manufacturing	[5]	1,601		1,480		4,911		4,557
Selling and general	[5]	217		224		666		691
Federal excise tax and fuel charge		486		432		1,343		1,241
Depreciation and depletion		419		410		1,201		1,145
Non-service pension and postretirement benefit		36		27		108		80
Financing (note 6)	[6]	20		30		71		79
Total expenses		8,182		8,706		24,298		25,222
Income (loss) before income taxes		554		1,026		1,681		1,987
Income taxes		130		277		(248)		526
Net income (loss)		$ 424		$ 749		$ 1,929		$ 1,461
Per share information (Canadian dollars)
Net income (loss) per common share - basic (note 11)		$ 0.56		$ 0.94		$ 2.51		$ 1.79
Net income (loss) per common share - diluted (note 11)		$ 0.56		$ 0.94		$ 2.51		$ 1.79
[1]	Amounts from related parties included in revenues. 2,313 1,809 6,269 4,951
[2]	Included export sales to the United States of $1,807 million (2018 - $1,741 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 $5,623 million (2018 - $4,509 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. 717 1,071 2,353 3,337
[5]	Amounts to related parties included in production and manufacturing, and selling and general expenses.157 136 479 433
[6]	Amounts to related parties included in financing, (note 6). 23 22 75 64

Consolidated statement of inc_2

Consolidated statement of income (Parenthetical) - CAD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Amounts from related parties included in revenues	$ 2,313	$ 1,809	$ 6,269	$ 4,951
Amounts to related parties included in purchases of crude oil and products	717	1,071	2,353	3,337
Amounts to related parties included in production and manufacturing, and selling and general expenses	157	136	479	433
Amounts to related parties included in financing (note 6)	$ 23	$ 22	$ 75	$ 64

Consolidated statement of compr

Consolidated statement of comprehensive income - CAD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Net income (loss)	$ 424	$ 749	$ 1,929	$ 1,461
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	34	83	101
Total other comprehensive income (loss)	28	34	101	82
Comprehensive income (loss)	$ 452	$ 783	$ 2,030	$ 1,543

Consolidated balance sheet

Consolidated balance sheet - CAD ($) $ in Millions		Sep. 30, 2019		Dec. 31, 2018
Current assets
Cash		$ 1,531	[1]	$ 988
Accounts receivable, less estimated doubtful accounts	[2]	2,884		2,529
Inventories of crude oil and products		989		1,297
Materials, supplies and prepaid expenses		606		541
Total current assets		6,010		5,355
Investments and long-term receivables	[3]	912		857
Property, plant and equipment,		54,531		53,944
less accumulated depreciation and depletion		(20,299)		(19,719)
Property, plant and equipment, net		34,232		34,225
Goodwill		186		186
Other assets, including intangibles, net		567		833
Total assets		41,907	[4],[5]	41,456
Current liabilities
Notes and loans payable	[6]	197		202
Accounts payable and accrued liabilities (note 9)	[2]	3,904		3,688
Income taxes payable		36		65
Total current liabilities		4,137		3,955
Long-term debt (note 7)	[7]	4,964		4,978
Other long-term obligations (note 9)	[8]	3,073		2,943
Deferred income tax liabilities		4,768		5,091
Total liabilities		16,942		16,967
Shareholders' equity
Common shares at stated value (note 11)	[9]	1,391		1,446
Earnings reinvested		24,990		24,560
Accumulated other comprehensive income (loss) (note 12)		(1,416)		(1,517)
Total shareholders' equity		24,965		24,489
Total liabilities and shareholders' equity		$ 41,907		$ 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 $1,121 million (2018 - $666 million).
[3]	Investments and long-term receivables included amounts from related parties of $275 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 September 30, 2019, Total assets include operating lease right of use assets of $283 million. An election was made not to restate prior periods. See note 8 for additional details.
[5]	In 2019, the company removed $570 million from Total assets and corresponding liabilities in the Downstream segment 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 753 million, respectively (2018 - 1,100 million and 783 million, respectively).

Consolidated balance sheet (Par

Consolidated balance sheet (Parenthetical) - CAD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Amounts receivable (payable) from (to) related parties	$ 1,121	$ 666
Due to related parties, current	$ 75	$ 75
Common shares authorized	1,100,000,000	1,100,000,000
Common shares outstanding	753,000,000	783,000,000
Investments and Long Term Receivables
Due from related parties	$ 275	$ 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 12)
At beginning of period at Dec. 31, 2017		$ 1,536	$ 24,714	$ (1,815)
Net income (loss) for the year	$ 1,461		1,461
Issued under the stock option plan		0
Share purchases at stated value		(71)
Share purchases in excess of stated value			(1,490)
Dividends declared			(438)
Other comprehensive income (loss)	82			82
At end of period at Sep. 30, 2018	23,979	1,465	24,247	(1,733)
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 Jun. 30, 2018		1,483	24,049	(1,767)
Net income (loss) for the year	749		749
Issued under the stock option plan		0
Share purchases at stated value		(18)
Share purchases in excess of stated value			(400)
Dividends declared			(151)
Other comprehensive income (loss)	34			34
At end of period at Sep. 30, 2018	23,979	1,465	24,247	(1,733)
At beginning of period at Dec. 31, 2018	24,489	1,446	24,560	(1,517)
Net income (loss) for the year	1,929		1,929
Issued under the stock option plan		0
Share purchases at stated value		(55)
Share purchases in excess of stated value			(1,017)
Dividends declared			(482)
Other comprehensive income (loss)	101			101
At end of period at Sep. 30, 2019	24,965	1,391	24,990	(1,416)
At beginning of period at Jun. 30, 2019		1,410	25,056	(1,444)
Net income (loss) for the year	424		424
Issued under the stock option plan		0
Share purchases at stated value		(19)
Share purchases in excess of stated value			(324)
Dividends declared			(166)
Other comprehensive income (loss)	28			28
At end of period at Sep. 30, 2019	$ 24,965	$ 1,391	$ 24,990	$ (1,416)

Consolidated statement of cash

Consolidated statement of cash flows - CAD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Operating activities
Net income (loss)		$ 424	$ 749	$ 1,929	$ 1,461
Adjustments for non-cash items:
Depreciation and depletion		419	364	1,201	1,099
Impairment of intangible assets		0	46	0	46
(Gain) loss on asset sales (note 4)		(28)	(10)	(34)	(29)
Deferred income taxes and other		116	276	(359)	485
Changes in operating assets and liabilities:
Accounts receivable		250	(104)	(355)	(17)
Inventories, materials, supplies and prepaid expenses		264	(179)	243	(356)
Income taxes payable		8	(78)	(29)	(46)
Accounts payable and accrued liabilities		(82)	78	646	102
All other items - net	[1],[2]	5	65	163	306
Cash flows from (used in) operating activities		1,376	1,207	3,405	3,051
Investing activities
Additions to property, plant and equipment	[2]	(417)	(327)	(1,242)	(1,055)
Proceeds from asset sales (note 4)		30	13	66	34
Loan to equity company		(26)	(38)	(129)	(75)
Cash flows from (used in) investing activities		(413)	(352)	(1,305)	(1,096)
Financing activities
Reduction in finance lease obligations (note 8)		(7)	(7)	(20)	(20)
Dividends paid		(169)	(155)	(465)	(421)
Common shares purchased (note 11)		(343)	(418)	(1,072)	(1,561)
Cash flows from (used in) financing activities		(519)	(580)	(1,557)	(2,002)
Increase (decrease) in cash		444	275	543	(47)
Cash at beginning of period		1,087	873	988	1,195
Cash at end of period	[3]	$ 1,531	$ 1,148	$ 1,531	$ 1,148
[1]	Included contribution to registered pension plans. (57) (52) (155) (153)
[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		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Included contribution to registered pension plans	$ (57)	$ (52)	$ (155)	$ (153)
Income taxes (paid) refunded	35	(75)	84	(85)
Interest (paid), net of capitalization	$ (11)	$ (16)	(41)	$ (44)
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	9 Months Ended
	Sep. 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 nine months ended September 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	9 Months Ended
	Sep. 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	9 Months Ended
	Sep. 30, 2019
Business segments	3. Business segments Third Quarter Upstream Downstream Chemical millions of Canadian dollars 2019 2018 2019 2018 2019 2018 Revenues and other income Revenues (a) 2,185 2,489 6,266 6,880 236 328 Intersegment sales 913 771 314 425 61 79 Investment and other income (note 4) 7 2 32 25 1 1 3,105 3,262 6,612 7,330 298 408 Expenses Exploration 4 4 - - - - Purchases of crude oil and products 1,376 1,566 5,142 5,567 167 239 Production and manufacturing 1,087 1,073 460 356 54 51 Selling and general - - 191 199 23 21 Federal excise tax and fuel charge - - 486 432 - - Depreciation and depletion (b) 364 309 45 91 4 4 Non-service - - - - - - Financing (note 6) - - - - - - Total expenses 2,831 2,952 6,324 6,645 248 315 Income (loss) before income taxes 274 310 288 685 50 93 Income taxes 65 88 67 183 12 24 Net income (loss) 209 222 221 502 38 69 Cash flows from (used in) operating activities 392 872 900 281 75 79 Capital and exploration expenditures (c) 302 257 124 105 4 8 Third Quarter Corporate and other Eliminations Consolidated millions of Canadian dollars 2019 2018 2019 2018 2019 2018 Revenues and other income Revenues (a) - - - - 8,687 9,697 Intersegment sales - - (1,288) (1,275) - - Investment and other income (note 4) 9 7 - - 49 35 9 7 (1,288) (1,275) 8,736 9,732 Expenses Exploration - - - - 4 4 Purchases of crude oil and products - - (1,286) (1,273) 5,399 6,099 Production and manufacturing - - - - 1,601 1,480 Selling and general 5 6 (2) (2) 217 224 Federal excise tax and fuel charge - - - - 486 432 Depreciation and depletion (b) 6 6 - - 419 410 Non-service 36 27 - - 36 27 Financing (note 6) 20 30 - - 20 30 Total expenses 67 69 (1,288) (1,275) 8,182 8,706 Income (loss) before income taxes (58) (62) - - 554 1,026 Income taxes (14) (18) - - 130 277 Net income (loss) (44) (44) - - 424 749 Cash flows from (used in) operating activities 9 (25) - - 1,376 1,207 Capital and exploration expenditures (c) 12 6 - - 442 376 (a) Included export sales to the United States of $1,807 million (2018 - $1,741 million). Export sales to the United States were recorded in all operating segments, with the largest effects in the Upstream segment. (b) In 2018, the Downstream segment included a non-cash (c) 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. Nine Months to September 30 Upstream Downstream Chemical millions of Canadian dollars 2019 2018 2019 2018 2019 2018 Revenues and other income Revenues (a) 7,012 6,796 18,115 19,357 753 960 Intersegment sales 2,977 2,078 1,249 1,119 181 226 Investment and other income (note 4) 11 6 61 66 1 1 10,000 8,880 19,425 20,542 935 1,187 Expenses Exploration 42 13 - - - - Purchases of crude oil and products 4,764 4,513 15,062 15,664 531 657 Production and manufacturing 3,414 3,191 1,315 1,212 182 154 Selling and general - - 571 569 67 65 Federal excise tax and fuel charge - - 1,343 1,241 - - Depreciation and depletion (b) 1,036 927 137 191 11 11 Non-service - - - - - - Financing (note 6) - - - - - - Total expenses 9,256 8,644 18,428 18,877 791 887 Income (loss) before income taxes 744 236 997 1,665 144 300 Income taxes (508) 64 261 441 34 80 Net income (loss) 1,252 172 736 1,224 110 220 Cash flows from (used in) operating activities 1,257 1,199 2,055 1,647 175 278 Capital and exploration expenditures (c) 975 646 364 250 27 19 Total assets as at September 30 (d) (e) 35,066 34,570 4,433 5,426 423 427 Nine Months to September 30 Corporate and other Eliminations Consolidated millions of Canadian dollars 2019 2018 2019 2018 2019 2018 Revenues and other income Revenues (a) - - - - 25,880 27,113 Intersegment sales - - (4,407) (3,423) - - Investment and other income (note 4) 26 23 - - 99 96 26 23 (4,407) (3,423) 25,979 27,209 Expenses Exploration - - - - 42 13 Purchases of crude oil and products - - (4,401) (3,418) 15,956 17,416 Production and manufacturing - - - - 4,911 4,557 Selling and general 34 62 (6) (5) 666 691 Federal excise tax and fuel charge - - - - 1,343 1,241 Depreciation and depletion (b) 17 16 - - 1,201 1,145 Non-service 108 80 - - 108 80 Financing (note 6) 71 79 - - 71 79 Total expenses 230 237 (4,407) (3,423) 24,298 25,222 Income (loss) before income taxes (204) (214) - - 1,681 1,987 Income taxes (35) (59) - - (248) 526 Net income (loss) (169) (155) - - 1,929 1,461 Cash flows from (used in) operating activities (82) (73) - - 3,405 3,051 Capital and exploration expenditures (c) 34 19 - - 1,400 934 Total assets as at September 30 (d) (e) 2,298 1,727 (313) (331) 41,907 41,819 (a) Included export sales to the United States of $5,623 million (2018 - $4,509 million). Export sales to the United States were recorded in all operating segments, with the largest effects in the Upstream segment. (b) In 2018, the Downstream segment included a non-cash (c) 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. (d) Effective January 1, 2019, Imperial adopted the Financial Accounting Standards Board’s standard, Leases (Topic 842) (e) In 2019, the company removed $570 million from Total assets and corresponding liabilities in the Downstream segment associated with the Government of Ontario’s revocation of its cap and trade legislation.

Investment and other income

Investment and other income	9 Months Ended
	Sep. 30, 2019
Investment and other income	4. Investment and other income Investment and other income included gains and losses on asset sales as follows: Third Quarter Nine Months to September 30 millions of Canadian dollars 2019 2018 2019 2018 Proceeds from asset sales 30 13 66 34 Book value of asset sales 2 3 32 5 Gain (loss) on asset sales, before tax 28 10 34 29 Gain (loss) on asset sales, after tax 25 6 31 21

Employee retirement benefits

Employee retirement benefits	9 Months Ended
	Sep. 30, 2019
Employee retirement benefits	5. Employee retirement benefits The components of net benefit ​​​​​​​cost were as follows: Third Quarter Nine Months millions of Canadian dollars 2019 2018 2019 2018 Pension benefits: Current service cost 57 59 171 179 Interest cost 81 76 243 227 Expected return on plan assets (87) (100) (262) (301) Amortization of prior service cost - 1 - 3 Amortization of actuarial loss (gain) 37 43 112 130 Net periodic benefit cost 88 79 264 238 Other postretirement benefits: Current service cost 4 5 12 13 Interest cost 5 5 16 16 Amortization of actuarial loss (gain) - 2 (1) 5 Net periodic benefit cost 9 12 27 34

Financing and additional notes

Financing and additional notes and loans payable information	9 Months Ended
	Sep. 30, 2019
Financing and additional notes and loans payable information	6. Financing and additional notes and loans payable information Third Quarter Nine Months millions of Canadian dollars 2019 2018 2019 2018 Debt-related interest 32 36 105 98 Capitalized interest (12) (6) (34) (19) Net interest expense 20 30 71 79 Other interest - - - - Total financing 20 30 71 79

Long-term debt

Long-term debt	9 Months Ended
	Sep. 30, 2019
Long-term debt	7. Long-term debt As at Sept 30 As at Dec 31 millions of Canadian dollars 2019 2018 Long-term debt 4,447 4,447 Finance leases (a) 517 531 Total long-term debt 4,964 4,978 (a) Maturity analysis of finance lease liabilities is disclosed in note 8. In September 2019, the company extended the maturity date of its existing long-term, variable-rate, Canadian dollar loan from ExxonMobil to June 30, 2025. All other terms and conditions remain unchanged.

Leases

Leases	9 Months Ended
	Sep. 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 million was recorded and the operating lease right of use asset was $298 million. There was no cumulative earnings effect adjustment. The table below summarizes the total lease cost incurred: Third Quarter 2019 Nine Months to September 30 2019 millions of Canadian dollars Operating Finance Operating Finance Operating lease cost 39 113 Short-term and other (net of sublease rental income) 14 54 Amortization of right of use assets 14 41 Interest on lease liabilities 10 30 Total lease cost 53 24 167 71 The following table summarizes the amounts related to operating leases and finance leases recorded on the Consolidated balance sheet: As at September 30 2019 millions of Canadian dollars Operating Finance Right of use assets Included in Other assets, including intangibles, net 283 Included in Property, plant and equipment, net 560 Total right of use assets 283 560 Lease liability due within one year Included in Accounts payable and accrued liabilities 121 27 Included in Notes and loans payable 22 Long-term lease liability Included in Other long-term obligations 160 - Included in Long-term debt 517 Total lease liability 281 566 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 September 30 2019 millions of Canadian dollars, unless noted Operating leases Finance leases Maturity analysis of lease liabilities 2019 remaining months 37 28 2020 114 71 2021 66 50 2022 30 49 2023 13 48 2024 11 47 2025 and beyond 30 1,086 Total lease payments 301 1,379 Discount to present value (20) (813 ) Total lease liability 281 566 Weighted average remaining lease term (years) 4 40 Weighted average discount rate (percent) 2.5 7.5 In addition to the operating lease liabilities in the table immediately above, at September 30, 2019, additional undiscounted commitments for leases not yet commenced totalled $2 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: Third Quarter 2019 Nine Months to September 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 11 110 33 Cash flows from financing activities 7 20 Non-cash For January 1 adoption of Leases (Topic 842) 298 In exchange for new lease liabilities during the period 90 At December 31, 2018, the company held non-cancelable millions of Canadian dollars As at Dec 31 2018 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

Other long-term obligations

Other long-term obligations	9 Months Ended
	Sep. 30, 2019
Other long-term obligations	9. Other long-term obligations As at As at Sept 30 Dec 31 millions of Canadian dollars 2019 2018 Employee retirement benefits (a) 1,145 1,195 Asset retirement obligations and other environmental liabilities (b) 1,445 1,435 Share-based incentive compensation liabilities 94 78 Operating lease liability (c) 160 - Other obligations 229 235 Total other long-term obligations 3,073 2,943 (a) Total recorded employee retirement benefits obligations also included $55 million in current liabilities (2018 - $55 million). (b) Total asset retirement obligations and other environmental liabilities also included $118 million in current liabilities (2018 - $118 million). (c) Effective January 1, 2019, Imperial adopted the Financial Accounting Standards Board’s standard, Leases (Topic 842)

Financial instruments

Financial instruments	9 Months Ended
	Sep. 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 September 30, 2019 and December 31, 2018 the fair value of long-term debt ($4,447 million, excluding finance lease obligations) was primarily a level 2 measurement.

Common shares

Common shares	9 Months Ended
	Sep. 30, 2019
Common shares	11. Common shares thousands of shares As of Sept 30 2019 As of Dec 31 2018 Authorized 1,100,000 1,100,000 Common shares outstanding 752,948 782,565 The current 12-month 5 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 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 (29,617 ) (55 ) Balance as at September 30, 2019 752,948 1,391 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: Third Quarter Nine Months to September 30 2019 2018 2019 2018 Net income (loss) per common share - basic Net income (loss) (millions of Canadian dollars) 424 749 1,929 1,461 Weighted average number of common shares outstanding (millions of shares) 757.8 797.6 767.6 814.2 Net income (loss) per common share (dollars) 0.56 0.94 2.51 1.79 Net income (loss) per common share - diluted Net income (loss) (millions of Canadian dollars) 424 749 1,929 1,461 Weighted average number of common shares outstanding (millions of shares) 757.8 797.6 767.6 814.2 Effect of employee share-based awards (millions of shares) 2.5 2.9 2.4 2.7 Weighted average number of common shares outstanding, assuming dilution (millions of shares) 760.3 800.5 770.0 816.9 Net income (loss) per common share (dollars) 0.56 0.94 2.51 1.79 Dividends per common share - declared (dollars) 0.22 0.19 0.63 0.54

Other comprehensive income (los

Other comprehensive income (loss) information	9 Months Ended
	Sep. 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 83 101 Balance at September 30 (1,416) (1,733) Amounts reclassified out of accumulated other comprehensive income (loss) - before-tax Third Quarter Nine Months to September 30 millions of Canadian dollars 2019 2018 2019 2018 Amortization of postretirement benefits liability adjustment included in net periodic benefit cost (a) (37) (46) (111) (138) (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): Third Quarter Nine Months to September 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 12 28 37 Total 9 12 35 30

Recently issued accounting stan

Recently issued accounting standards	9 Months Ended
	Sep. 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) The standard requires a valuation allowance for credit losses be recognized for certain financial assets that reflects the current expected credit loss over the asset’s contractual life. The valuation allowance considers the risk of loss, even if remote and considers past events, current conditions and expectations of the future. The company does not expect a material change in the credit allowance for trade receivables and continues to evaluate the impact on other financial assets in scope of the standard

Accounting changes (Policies)

Accounting changes (Policies)	9 Months Ended
	Sep. 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)	9 Months Ended
	Sep. 30, 2019
Business Segments	Third Quarter Upstream Downstream Chemical millions of Canadian dollars 2019 2018 2019 2018 2019 2018 Revenues and other income Revenues (a) 2,185 2,489 6,266 6,880 236 328 Intersegment sales 913 771 314 425 61 79 Investment and other income (note 4) 7 2 32 25 1 1 3,105 3,262 6,612 7,330 298 408 Expenses Exploration 4 4 - - - - Purchases of crude oil and products 1,376 1,566 5,142 5,567 167 239 Production and manufacturing 1,087 1,073 460 356 54 51 Selling and general - - 191 199 23 21 Federal excise tax and fuel charge - - 486 432 - - Depreciation and depletion (b) 364 309 45 91 4 4 Non-service - - - - - - Financing (note 6) - - - - - - Total expenses 2,831 2,952 6,324 6,645 248 315 Income (loss) before income taxes 274 310 288 685 50 93 Income taxes 65 88 67 183 12 24 Net income (loss) 209 222 221 502 38 69 Cash flows from (used in) operating activities 392 872 900 281 75 79 Capital and exploration expenditures (c) 302 257 124 105 4 8 Third Quarter Corporate and other Eliminations Consolidated millions of Canadian dollars 2019 2018 2019 2018 2019 2018 Revenues and other income Revenues (a) - - - - 8,687 9,697 Intersegment sales - - (1,288) (1,275) - - Investment and other income (note 4) 9 7 - - 49 35 9 7 (1,288) (1,275) 8,736 9,732 Expenses Exploration - - - - 4 4 Purchases of crude oil and products - - (1,286) (1,273) 5,399 6,099 Production and manufacturing - - - - 1,601 1,480 Selling and general 5 6 (2) (2) 217 224 Federal excise tax and fuel charge - - - - 486 432 Depreciation and depletion (b) 6 6 - - 419 410 Non-service 36 27 - - 36 27 Financing (note 6) 20 30 - - 20 30 Total expenses 67 69 (1,288) (1,275) 8,182 8,706 Income (loss) before income taxes (58) (62) - - 554 1,026 Income taxes (14) (18) - - 130 277 Net income (loss) (44) (44) - - 424 749 Cash flows from (used in) operating activities 9 (25) - - 1,376 1,207 Capital and exploration expenditures (c) 12 6 - - 442 376 (a) Included export sales to the United States of $1,807 million (2018 - $1,741 million). Export sales to the United States were recorded in all operating segments, with the largest effects in the Upstream segment. (b) In 2018, the Downstream segment included a non-cash (c) 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. Nine Months to September 30 Upstream Downstream Chemical millions of Canadian dollars 2019 2018 2019 2018 2019 2018 Revenues and other income Revenues (a) 7,012 6,796 18,115 19,357 753 960 Intersegment sales 2,977 2,078 1,249 1,119 181 226 Investment and other income (note 4) 11 6 61 66 1 1 10,000 8,880 19,425 20,542 935 1,187 Expenses Exploration 42 13 - - - - Purchases of crude oil and products 4,764 4,513 15,062 15,664 531 657 Production and manufacturing 3,414 3,191 1,315 1,212 182 154 Selling and general - - 571 569 67 65 Federal excise tax and fuel charge - - 1,343 1,241 - - Depreciation and depletion (b) 1,036 927 137 191 11 11 Non-service - - - - - - Financing (note 6) - - - - - - Total expenses 9,256 8,644 18,428 18,877 791 887 Income (loss) before income taxes 744 236 997 1,665 144 300 Income taxes (508) 64 261 441 34 80 Net income (loss) 1,252 172 736 1,224 110 220 Cash flows from (used in) operating activities 1,257 1,199 2,055 1,647 175 278 Capital and exploration expenditures (c) 975 646 364 250 27 19 Total assets as at September 30 (d) (e) 35,066 34,570 4,433 5,426 423 427 Nine Months to September 30 Corporate and other Eliminations Consolidated millions of Canadian dollars 2019 2018 2019 2018 2019 2018 Revenues and other income Revenues (a) - - - - 25,880 27,113 Intersegment sales - - (4,407) (3,423) - - Investment and other income (note 4) 26 23 - - 99 96 26 23 (4,407) (3,423) 25,979 27,209 Expenses Exploration - - - - 42 13 Purchases of crude oil and products - - (4,401) (3,418) 15,956 17,416 Production and manufacturing - - - - 4,911 4,557 Selling and general 34 62 (6) (5) 666 691 Federal excise tax and fuel charge - - - - 1,343 1,241 Depreciation and depletion (b) 17 16 - - 1,201 1,145 Non-service 108 80 - - 108 80 Financing (note 6) 71 79 - - 71 79 Total expenses 230 237 (4,407) (3,423) 24,298 25,222 Income (loss) before income taxes (204) (214) - - 1,681 1,987 Income taxes (35) (59) - - (248) 526 Net income (loss) (169) (155) - - 1,929 1,461 Cash flows from (used in) operating activities (82) (73) - - 3,405 3,051 Capital and exploration expenditures (c) 34 19 - - 1,400 934 Total assets as at September 30 (d) (e) 2,298 1,727 (313) (331) 41,907 41,819 (a) Included export sales to the United States of $5,623 million (2018 - $4,509 million). Export sales to the United States were recorded in all operating segments, with the largest effects in the Upstream segment. (b) In 2018, the Downstream segment included a non-cash (c) 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. (d) Effective January 1, 2019, Imperial adopted the Financial Accounting Standards Board’s standard, Leases (Topic 842) (e) In 2019, the company removed $570 million from Total assets and corresponding liabilities in the Downstream segment associated with the Government of Ontario’s revocation of its cap and trade legislation.

Investment and other income (Ta

Investment and other income (Tables)	9 Months Ended
	Sep. 30, 2019
Gains and Losses on Asset Sales	Investment and other income included gains and losses on asset sales as follows: Third Quarter Nine Months to September 30 millions of Canadian dollars 2019 2018 2019 2018 Proceeds from asset sales 30 13 66 34 Book value of asset sales 2 3 32 5 Gain (loss) on asset sales, before tax 28 10 34 29 Gain (loss) on asset sales, after tax 25 6 31 21

Employee retirement benefits (T

Employee retirement benefits (Tables)	9 Months Ended
	Sep. 30, 2019
Schedule of Net Benefit Costs [Table Text Block]	The components of net benefit ​​​​​​​cost were as follows: Third Quarter Nine Months millions of Canadian dollars 2019 2018 2019 2018 Pension benefits: Current service cost 57 59 171 179 Interest cost 81 76 243 227 Expected return on plan assets (87) (100) (262) (301) Amortization of prior service cost - 1 - 3 Amortization of actuarial loss (gain) 37 43 112 130 Net periodic benefit cost 88 79 264 238 Other postretirement benefits: Current service cost 4 5 12 13 Interest cost 5 5 16 16 Amortization of actuarial loss (gain) - 2 (1) 5 Net periodic benefit cost 9 12 27 34

Financing and additional note_2

Financing and additional notes and loans payable information (Tables)	9 Months Ended
	Sep. 30, 2019
Financing and Additional Notes and Loans Payable Information	Third Quarter Nine Months millions of Canadian dollars 2019 2018 2019 2018 Debt-related interest 32 36 105 98 Capitalized interest (12) (6) (34) (19) Net interest expense 20 30 71 79 Other interest - - - - Total financing 20 30 71 79

Long-term debt (Tables)

Long-term debt (Tables)	9 Months Ended
	Sep. 30, 2019
Long-Term Debt	As at Sept 30 As at Dec 31 millions of Canadian dollars 2019 2018 Long-term debt 4,447 4,447 Finance leases (a) 517 531 Total long-term debt 4,964 4,978 (a) Maturity analysis of finance lease liabilities is disclosed in note 8.

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2019
Schedule Of Lease Cost	The table below summarizes the total lease cost incurred: Third Quarter 2019 Nine Months to September 30 2019 millions of Canadian dollars Operating Finance Operating Finance Operating lease cost 39 113 Short-term and other (net of sublease rental income) 14 54 Amortization of right of use assets 14 41 Interest on lease liabilities 10 30 Total lease cost 53 24 167 71
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 September 30 2019 millions of Canadian dollars Operating Finance Right of use assets Included in Other assets, including intangibles, net 283 Included in Property, plant and equipment, net 560 Total right of use assets 283 560 Lease liability due within one year Included in Accounts payable and accrued liabilities 121 27 Included in Notes and loans payable 22 Long-term lease liability Included in Other long-term obligations 160 - Included in Long-term debt 517 Total lease liability 281 566
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 September 30 2019 millions of Canadian dollars, unless noted Operating leases Finance leases Maturity analysis of lease liabilities 2019 remaining months 37 28 2020 114 71 2021 66 50 2022 30 49 2023 13 48 2024 11 47 2025 and beyond 30 1,086 Total lease payments 301 1,379 Discount to present value (20) (813 ) Total lease liability 281 566 Weighted average remaining lease term (years) 4 40 Weighted average discount rate (percent) 2.5 7.5
Schedule Of Measurement Of Lease Liabilities and Right Of Use Assets	Third Quarter 2019 Nine Months to September 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 11 110 33 Cash flows from financing activities 7 20 Non-cash For January 1 adoption of Leases (Topic 842) 298 In exchange for new lease liabilities during the period 90
Schedule of Operating Leases	At December 31, 2018, the company held non-cancelable millions of Canadian dollars As at Dec 31 2018 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

Other long-term obligations (Ta

Other long-term obligations (Tables)	9 Months Ended
	Sep. 30, 2019
Other Long-Term Obligations	As at As at Sept 30 Dec 31 millions of Canadian dollars 2019 2018 Employee retirement benefits (a) 1,145 1,195 Asset retirement obligations and other environmental liabilities (b) 1,445 1,435 Share-based incentive compensation liabilities 94 78 Operating lease liability (c) 160 - Other obligations 229 235 Total other long-term obligations 3,073 2,943 (a) Total recorded employee retirement benefits obligations also included $55 million in current liabilities (2018 - $55 million). (b) Total asset retirement obligations and other environmental liabilities also included $118 million in current liabilities (2018 - $118 million). (c) Effective January 1, 2019, Imperial adopted the Financial Accounting Standards Board’s standard, Leases (Topic 842)

Common shares (Tables)

Common shares (Tables)	9 Months Ended
	Sep. 30, 2019
Summary of Common Shares	thousands of shares As of Sept 30 2019 As of Dec 31 2018 Authorized 1,100,000 1,100,000 Common shares outstanding 752,948 782,565
Common Share Activities	The company’s common share activities are summarized below: Thousands of shares Millions of 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 (29,617 ) (55 ) Balance as at September 30, 2019 752,948 1,391
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: Third Quarter Nine Months to September 30 2019 2018 2019 2018 Net income (loss) per common share - basic Net income (loss) (millions of Canadian dollars) 424 749 1,929 1,461 Weighted average number of common shares outstanding (millions of shares) 757.8 797.6 767.6 814.2 Net income (loss) per common share (dollars) 0.56 0.94 2.51 1.79 Net income (loss) per common share - diluted Net income (loss) (millions of Canadian dollars) 424 749 1,929 1,461 Weighted average number of common shares outstanding (millions of shares) 757.8 797.6 767.6 814.2 Effect of employee share-based awards (millions of shares) 2.5 2.9 2.4 2.7 Weighted average number of common shares outstanding, assuming dilution (millions of shares) 760.3 800.5 770.0 816.9 Net income (loss) per common share (dollars) 0.56 0.94 2.51 1.79 Dividends per common share - declared (dollars) 0.22 0.19 0.63 0.54

Other comprehensive income (l_2

Other comprehensive income (loss) information (Tables)	9 Months Ended
	Sep. 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 83 101 Balance at September 30 (1,416) (1,733)
Amounts Reclassified Out of Accumulated Other Comprehensive Income (Loss) - Before-Tax Income (Expense)	Amounts reclassified out of accumulated other comprehensive income (loss) - before-tax Third Quarter Nine Months to September 30 millions of Canadian dollars 2019 2018 2019 2018 Amortization of postretirement benefits liability adjustment included in net periodic benefit cost (a) (37) (46) (111) (138) (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): Third Quarter Nine Months to September 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 12 28 37 Total 9 12 35 30

Accounting changes - Additional

Accounting changes - Additional Information (Detail) - CAD ($) $ in Millions	Sep. 30, 2019	Jan. 01, 2019
Change in Accounting Estimate [Abstract]
Operating Lease, Right-of-Use Asset	$ 283	$ 298
Operating Lease, Liability	$ 281	$ 298

Business Segments (Detail)

Business Segments (Detail) - CAD ($) $ in Millions		3 Months Ended				9 Months Ended
		Sep. 30, 2019		Sep. 30, 2018		Sep. 30, 2019		Sep. 30, 2018		Dec. 31, 2018
Revenues and other income
Revenues	[1]	$ 8,687	[2]	$ 9,697	[2]	$ 25,880	[3]	$ 27,113	[3]
Intersegment sales		0		0		0		0
Investment and other income (note 4)		49		35		99		96
TOTAL OPERATING REVENUES, INTERSEGMENT SALES, INVESTMENT AND OTHER INCOME		8,736		9,732		25,979		27,209
Expenses
Exploration		4		4		42		13
Purchases of crude oil and products	[4]	5,399		6,099		15,956		17,416
Production and manufacturing	[5]	1,601		1,480		4,911		4,557
Selling and general	[5]	217		224		666		691
Federal excise tax and fuel charge		486		432		1,343		1,241
Depreciation and depletion		419		410		1,201		1,145
Non-service pension and postretirement benefit		36		27		108		80
Financing (note 6)	[6]	20		30		71		79
Total expenses		8,182		8,706		24,298		25,222
Income (loss) before income taxes		554		1,026		1,681		1,987
Income taxes		130		277		(248)		526
Net income (loss)		424		749		1,929		1,461
Cash flows from (used in) operating activities		1,376		1,207		3,405		3,051
Capital and exploration expenditures		442		376		1,400	[7]	934	[7]
Total assets as at September 30		41,907	[8],[9]	41,819	[8],[9]	41,907	[8],[9]	41,819	[8],[9]	$ 41,456
Consolidation, Eliminations
Revenues and other income
Revenues		0	[2]	0	[2]	0	[3]	0	[3]
Intersegment sales		(1,288)		(1,275)		(4,407)		(3,423)
Investment and other income (note 4)		0		0		0		0
TOTAL OPERATING REVENUES, INTERSEGMENT SALES, INVESTMENT AND OTHER INCOME		(1,288)		(1,275)		(4,407)		(3,423)
Expenses
Exploration		0		0		0		0
Purchases of crude oil and products		(1,286)		(1,273)		(4,401)		(3,418)
Production and manufacturing		0		0		0		0
Selling and general		(2)		(2)		(6)		(5)
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		(1,288)		(1,275)		(4,407)		(3,423)
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	[7]	0	[7]
Total assets as at September 30	[8],[9]	(313)		(331)		(313)		(331)
Upstream
Revenues and other income
Revenues		2,185	[2]	2,489	[2]	7,012	[3]	6,796	[3]
Intersegment sales		913		771		2,977		2,078
Investment and other income (note 4)		7		2		11		6
TOTAL OPERATING REVENUES, INTERSEGMENT SALES, INVESTMENT AND OTHER INCOME		3,105		3,262		10,000		8,880
Expenses
Exploration		4		4		42		13
Purchases of crude oil and products		1,376		1,566		4,764		4,513
Production and manufacturing		1,087		1,073		3,414		3,191
Selling and general		0		0		0		0
Federal excise tax and fuel charge		0		0		0		0
Depreciation and depletion		364		309		1,036		927
Non-service pension and postretirement benefit		0		0		0		0
Financing (note 6)		0		0		0		0
Total expenses		2,831		2,952		9,256		8,644
Income (loss) before income taxes		274		310		744		236
Income taxes		65		88		(508)		64
Net income (loss)		209		222		1,252		172
Cash flows from (used in) operating activities		392		872		1,257		1,199
Capital and exploration expenditures		302		257		975	[7]	646	[7]
Total assets as at September 30	[8],[9]	35,066		34,570		35,066		34,570
Downstream
Revenues and other income
Revenues		6,266	[2]	6,880	[2]	18,115	[3]	19,357	[3]
Intersegment sales		314		425		1,249		1,119
Investment and other income (note 4)		32		25		61		66
TOTAL OPERATING REVENUES, INTERSEGMENT SALES, INVESTMENT AND OTHER INCOME		6,612		7,330		19,425		20,542
Expenses
Exploration		0		0		0		0
Purchases of crude oil and products		5,142		5,567		15,062		15,664
Production and manufacturing		460		356		1,315		1,212
Selling and general		191		199		571		569
Federal excise tax and fuel charge		486		432		1,343		1,241
Depreciation and depletion		45		91		137		191
Non-service pension and postretirement benefit		0		0		0		0
Financing (note 6)		0		0		0		0
Total expenses		6,324		6,645		18,428		18,877
Income (loss) before income taxes		288		685		997		1,665
Income taxes		67		183		261		441
Net income (loss)		221		502		736		1,224
Cash flows from (used in) operating activities		900		281		2,055		1,647
Capital and exploration expenditures		124		105		364	[7]	250	[7]
Total assets as at September 30	[8],[9]	4,433		5,426		4,433		5,426
Chemical
Revenues and other income
Revenues		236	[2]	328	[2]	753	[3]	960	[3]
Intersegment sales		61		79		181		226
Investment and other income (note 4)		1		1		1		1
TOTAL OPERATING REVENUES, INTERSEGMENT SALES, INVESTMENT AND OTHER INCOME		298		408		935		1,187
Expenses
Exploration		0		0		0		0
Purchases of crude oil and products		167		239		531		657
Production and manufacturing		54		51		182		154
Selling and general		23		21		67		65
Federal excise tax and fuel charge		0		0		0		0
Depreciation and depletion		4		4		11		11
Non-service pension and postretirement benefit		0		0		0		0
Financing (note 6)		0		0		0		0
Total expenses		248		315		791		887
Income (loss) before income taxes		50		93		144		300
Income taxes		12		24		34		80
Net income (loss)		38		69		110		220
Cash flows from (used in) operating activities		75		79		175		278
Capital and exploration expenditures		4		8		27	[7]	19	[7]
Total assets as at September 30	[8],[9]	423		427		423		427
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)		9		7		26		23
TOTAL OPERATING REVENUES, INTERSEGMENT SALES, INVESTMENT AND OTHER INCOME		9		7		26		23
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		5		6		34		62
Federal excise tax and fuel charge		0		0		0		0
Depreciation and depletion		6		6		17		16
Non-service pension and postretirement benefit		36		27		108		80
Financing (note 6)		20		30		71		79
Total expenses		67		69		230		237
Income (loss) before income taxes		(58)		(62)		(204)		(214)
Income taxes		(14)		(18)		(35)		(59)
Net income (loss)		(44)		(44)		(169)		(155)
Cash flows from (used in) operating activities		9		(25)		(82)		(73)
Capital and exploration expenditures		12		6		34	[7]	19	[7]
Total assets as at September 30	[8],[9]	$ 2,298		$ 1,727		$ 2,298		$ 1,727
[1]	Amounts from related parties included in revenues. 2,313 1,809 6,269 4,951
[2]	Included export sales to the United States of $1,807 million (2018 - $1,741 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 $5,623 million (2018 - $4,509 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. 717 1,071 2,353 3,337
[5]	Amounts to related parties included in production and manufacturing, and selling and general expenses.157 136 479 433
[6]	Amounts to related parties included in financing, (note 6). 23 22 75 64
[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 September 30, 2019, Total assets include operating lease right of use assets of $283 million. An election was made not to restate prior periods. See note 8 for additional details.
[9]	In 2019, the company removed $570 million from Total assets and corresponding liabilities in the Downstream segment 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		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Jan. 01, 2019
Segment Reporting Information [Line Items]
Impairment charge, before tax		$ 46		$ 46
Operating Lease, Right-of-Use Asset	$ 283		$ 283		$ 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	$ 1,807	$ 1,741	$ 5,623	$ 4,509

Gains and Losses on Asset Sales

Gains and Losses on Asset Sales (Detail) - CAD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Investment And Other Income [Line Items]
Proceeds from asset sales	$ 30	$ 13	$ 66	$ 34
Book value of asset sales	2	3	32	5
Gain (loss) on asset sales, before-tax	28	10	34	29
Gain (loss) on asset sales, after-tax	$ 25	$ 6	$ 31	$ 21

Components of Net Periodic Bene

Components of Net Periodic Benefit Cost (Detail) - CAD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Pension benefits
Current service cost	$ 57	$ 59	$ 171	$ 179
Interest cost	81	76	243	227
Expected return on plan assets	(87)	(100)	(262)	(301)
Amortization of prior service cost	0	1	0	3
Amortization of actuarial loss (gain)	37	43	112	130
Net periodic benefit cost	88	79	264	238
Other postretirement benefits
Current service cost	4	5	12	13
Interest cost	5	5	16	16
Amortization of actuarial loss (gain)	0	2	(1)	5
Net periodic benefit cost	$ 9	$ 12	$ 27	$ 34

Financing and Additional Note_3

Financing and Additional Notes and Loans Payable Information (Detail) - CAD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Debt-related interest		$ 32	$ 36	$ 105	$ 98
Capitalized interest		(12)	(6)	(34)	(19)
Net interest expense		20	30	71	79
Other interest		0	0	0	0
Total financing	[1]	$ 20	$ 30	$ 71	$ 79
[1]	Amounts to related parties included in financing, (note 6). 23 22 75 64

Long-Term Debt (Detail)

Long-Term Debt (Detail) - CAD ($) $ in Millions		Sep. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Long-term debt		$ 4,447	$ 4,447
Finance leases	[1]	517	531
Total long-term debt	[2]	$ 4,964	$ 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		9 Months Ended
		Sep. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Operating Leased Assets [Line Items]
Undiscounted Commitments		$ 2
Operating Lease, Liability		281	$ 298
Operating Lease, Right-of-Use Asset		$ 283	$ 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	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Operating leases [Member]
Lease, cost
Operating lease cost, Operating leases	$ 39	$ 113
Short-term and other (net of sublease rental income), Operating leases	14	54
Total lease cost	53	167
Finance leases [Member]
Lease, cost
Amortization of right of use assets	14	41
Interest on lease liabilities, Finance leases	10	30
Total lease cost	$ 24	$ 71

Schedule Of Operating Leases an

Schedule Of Operating Leases and Finance Leases Recorded In Balance Sheet (Detail) - CAD ($) $ in Millions		Sep. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Right of use assets
Right of use assets, Operating leases		$ 283	$ 298
Right of use assets, Finance leases		560
Long-term lease liability
Long-term lease liability, Operating leases	[1]	160		$ 0
Total Operating leases liability		281	$ 298
Total Finance leases liability		566
Other LongTerm Obligations [Member]
Long-term lease liability
Long-term lease liability, Operating leases		160
Long-term lease liability, Finance leases		0
Long-term Debt [Member]
Long-term lease liability
Long-term lease liability, Finance leases		517
Property, Plant and Equipment [Member]
Right of use assets
Right of use assets, Finance leases		560
Other Assets Including Intangible Assets [Member]
Right of use assets
Right of use assets, Operating leases		283
Accounts Payable and Accrued Liabilities [Member]
Lease liability due within one year
Lease liability due within one year, Operating leases		121
Lease liability due within one year, Finance leases		27
Notes and Loans Payable [Member]
Lease liability due within one year
Lease liability due within one year, Finance leases		$ 22
[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	Sep. 30, 2019	Jan. 01, 2019
Operating Lease
2019 remaining months	$ 37
2020	114
2021	66
2022	30
2023	13
2024	11
2025 and beyond	30
Total lease payments	301
Discount to present value	(20)
Total lease liability	$ 281	$ 298
Weighted average remaining lease term (years)	4 years
Weighted average discount rate (percent)	2.50%
Finance Lease
2019 remaining months	$ 28
2020	71
2021	50
2022	49
2023	48
2024	47
2025 and beyond	1,086
Total lease payments	1,379
Discount to present value	(813)
Total lease liability	$ 566
Weighted average remaining lease term (years)	40 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	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019	Jan. 01, 2019
Cash paid for amounts included in the measurement of lease liabilities
Cash flows from operating activities, Operating leases	$ 37	$ 110
Cash flows from operating activities, Finance leases	11	33
Cash flows from financing activities, Finance leases	7	20
Non-cash right of use assets recorded for lease liabilities
For January 1 adoption of Leases	281	281	$ 298
In exchange for new lease liabilities during the period		90
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		Sep. 30, 2019	Dec. 31, 2018
Schedule of Other Liabilities [Line Items]
Employee retirement benefits	[1]	$ 1,145	$ 1,195
Asset retirement obligations and other environmental liabilities	[2]	1,445	1,435
Share-based incentive compensation liabilities		94	78
Operating lease liability	[3]	160	0
Other obligations		229	235
Total other long-term obligations	[4]	$ 3,073	$ 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	Sep. 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	Sep. 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	Sep. 30, 2019	Dec. 31, 2018
Class of Stock [Line Items]
Authorized	1,100,000,000	1,100,000,000
Common shares outstanding	752,948,000	782,565,000

Common Shares - Additional Info

Common Shares - Additional Information (Detail) - shares	Jun. 27, 2019	Jun. 13, 2019
Class of Stock [Line Items]
Normal course issuer bid share repurchase shares authorized	38,211,086
Percent of total shares		5.00%
Exxon Mobil Corporation's ownership interest in Imperial	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		9 Months Ended		12 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Class of Stock [Line Items]
Common stock beginning balance, shares				782,565
Common stock, ending balance, shares		752,948		752,948		782,565
Common stock beginning balance, value	[1]			$ 1,446
Common stock, ending balance, value	[1]	$ 1,391		$ 1,391		$ 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				(29,617)		(48,679)
Common stock, ending balance, shares		752,948		752,948		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		$ (19)	$ (18)	(55)	$ (71)	(90)
Common stock, ending balance, value		$ 1,391		$ 1,391		$ 1,446
[1]	Number of common shares authorized and outstanding were 1,100 million and 753 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		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Net income (loss) per common share - basic
Net income (loss)	$ 424	$ 749	$ 1,929	$ 1,461
Weighted average number of common shares outstanding (millions of shares)	757.8	797.6	767.6	814.2
Net income (loss) per common share (dollars)	$ 0.56	$ 0.94	$ 2.51	$ 1.79
Net income (loss) per common share - diluted
Net income (loss)	$ 424	$ 749	$ 1,929	$ 1,461
Weighted average number of common shares outstanding (millions of shares)	757.8	797.6	767.6	814.2
Effect of employee share-based awards (millions of shares)	2.5	2.9	2.4	2.7
Weighted average number of common shares outstanding, assuming dilution (millions of shares)	760.3	800.5	770	816.9
Net income (loss) per common share (dollars)	$ 0.56	$ 0.94	$ 2.51	$ 1.79
Dividends per common share - declared (dollars)	$ 0.22	$ 0.19	$ 0.63	$ 0.54

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Income (Loss) (Detail) - CAD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 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	34	83	101
Balance at September 30	$ (1,416)	$ (1,733)	$ (1,416)	$ (1,733)

Amounts Reclassified Out of Acc

Amounts Reclassified Out of Accumulated Other Comprehensive Income (Loss) (Detail) - CAD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 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)	$ (111)	$ (138)
[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		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 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	12	28	37
Total	$ 9	$ 12	$ 35	$ 30