10-Q

Q20000049938--12-31falseYesYesfalsefalseCAhttp://www.imperialoil.ca/20220630#LongTermDebtAndFinanceLeaseObligationshttp://www.imperialoil.ca/20220630#LongTermDebtAndFinanceLeaseObligationsIncluded contributions to registered pension plans.(46) (42) (96) (70) Income taxes (paid) refunded. (52) 27 (275 ) 28 Interest (paid), net of capitalization.(10) (14) (22) (27)Number of common shares authorized and outstanding were 1,100 million and 637 million, respectively (2021 - 1,100 million and 678 million, respectively).Accounts receivable - net included net amounts receivable from related parties of $1,888 million (2021 - $1,031 million).Long-term debt included amounts to related parties of $4,447 million (2021 - $4,447 million). Amounts from related parties included in revenues.5,175 1,405 9,134 2,913Amounts to related parties included in production and manufacturing, and selling and general expenses.116 106 234 222Amounts to related parties included in purchases of crude oil and products.1,129 666 1,779 1,181Investments and long-term receivables included amounts from related parties of $296 million (2021 - $298 million).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.Includes approximately 11% related to revenue outside the scope of ASC 606 “Revenue from Contracts with Customers” for the six months ended June 30, 2022. Trade receivables in Accounts receivable – net reported on the Balance Sheet include both receivables within the scope of ASC 606 and those outside the scope of ASC 606. Revenue and receivables outside the scope of ASC 606 primarily relate to physically settled commodity contracts accounted for as derivatives. Credit quality and type of customer are generally similar between those revenues and receivables within the scope of ASC 606 and those outside it. Included export sales to the United States of $6,375 million (2021 - $3,113 million).Included export sales to the United States of $3,871 million (2021 - $1,544 million).Includes approximately 13% related to revenue outside the scope of ASC 606 “Revenue from Contracts with Customers” for the three months ended June 30, 2022. Trade receivables in Accounts receivable – net reported on the Balance Sheet include both receivables within the scope of ASC 606 and those outside the scope of ASC 606. Revenue and receivables outside the scope of ASC 606 primarily relate to physically settled commodity contracts accounted for as derivatives. Credit quality and type of customer are generally similar between those revenues and receivables within the scope of ASC 606 and those outside it. Capital and exploration expenditures (CAPEX) include exploration expenses, additions to property, plant and equipment, additions to finance leases, additional investments and acquisitions and the company’s share of similar costs for equity companies. CAPEX excludes the purchase of carbon emission credits.Total recorded employee retirement benefits obligations also included $56 million in current liabilities (2021 - $56 million).Total asset retirement obligations and other environmental liabilities also included $102 million in current liabilities (2021 - $102 million).This accumulated other comprehensive income component is included in the computation of net benefit cost (note 4).Total operating lease liability also included $86 million in current liabilities (2021 - $102 million). In addition to the total operating lease liability, additional undiscounted commitments for leases not yet commenced totalled $11 million (2021 - $5 million).Amounts to related parties included in financing (note 5).13 10 17 21Included in the Consolidated balance sheet line: “Materials, supplies and prepaid expenses”, “Accounts receivable - net” and “Other assets, including intangibles - net”.Included in the Consolidated balance sheet line: “Accounts payable and accrued liabilities” and “Other long-term obligations”. 0000049938 2022-01-01 2022-06-30 0000049938 2022-04-01 2022-06-30 0000049938 2021-04-01 2021-06-30 0000049938 2021-01-01 2021-06-30 0000049938 2021-12-31 0000049938 2022-06-30 0000049938 2021-06-29 0000049938 2021-06-30 0000049938 2021-01-01 2021-12-31 0000049938 2021-06-29 2021-06-29 0000049938 2021-06-15 2021-06-15 0000049938 2022-05-06 2022-05-06 0000049938 2020-12-31 0000049938 2022-03-31 0000049938 2021-03-31 0000049938 us-gaap:CorporateAndOtherMember 2021-01-01 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