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v3.19.3.a.u2

Business segments (Tables) | 12 Months Ended
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Dec. 31, 2019
Business Segments |
|  | Upstream |  |  | Downstream |  |  | Chemical |
millions of Canadian dollars |  | 2019 |  |  | 2018 |  |  | 2017 |  |  | 2019 |  |  | 2018 |  |  | 2017 |  |  | 2019 |  |  | 2018 |  |  | 2017 |
Revenues and other income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues (a) |  |  | 9,479 |  |  |  | 8,525 |  |  |  | 7,302 |  |  |  | 23,591 |  |  |  | 25,200 |  |  |  | 20,714 |  |  |  | 932 |  |  |  | 1,239 |  |  |  | 1,109 |
Intersegment sales |  |  | 3,763 |  |  |  | 2,634 |  |  |  | 2,264 |  |  |  | 1,597 |  |  |  | 1,542 |  |  |  | 1,155 |  |  |  | 229 |  |  |  | 279 |  |  |  | 262 |
Investment and other income (note 9) |  |  | 17 |  |  |  | 11 |  |  |  | 16 |  |  |  | 47 |  |  |  | 95 |  |  |  | 269 |  |  |  | - |  |  |  | - |  |  |  | - |
|  |  | 13,259 |  |  |  | 11,170 |  |  |  | 9,582 |  |  |  | 25,235 |  |  |  | 26,837 |  |  |  | 22,138 |  |  |  | 1,161 |  |  |  | 1,518 |  |  |  | 1,371 |
Expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Exploration (b) (note 16) |  |  | 47 |  |  |  | 19 |  |  |  | 183 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Purchases of crude oil and products |  |  | 6,528 |  |  |  | 5,833 |  |  |  | 4,526 |  |  |  | 19,332 |  |  |  | 19,326 |  |  |  | 16,543 |  |  |  | 667 |  |  |  | 831 |  |  |  | 751 |
Production and manufacturing (c) |  |  | 4,440 |  |  |  | 4,305 |  |  |  | 3,913 |  |  |  | 1,829 |  |  |  | 1,606 |  |  |  | 1,576 |  |  |  | 251 |  |  |  | 210 |  |  |  | 209 |
Selling and general (c) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 774 |  |  |  | 773 |  |  |  | 772 |  |  |  | 86 |  |  |  | 87 |  |  |  | 78 |
Federal excise tax and fuel charge |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,808 |  |  |  | 1,667 |  |  |  | 1,673 |  |  |  | - |  |  |  | - |  |  |  | - |
Depreciation and depletion (b) (d) |  |  | 1,374 |  |  |  | 1,278 |  |  |  | 1,939 |  |  |  | 186 |  |  |  | 242 |  |  |  | 202 |  |  |  | 16 |  |  |  | 14 |  |  |  | 12 |
Non-service pension and postretirement benefit (c) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Financing (note 13) |  |  | 3 |  |  |  | 1 |  |  |  | 13 |  |  |  | - |  |  |  | 2 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total expenses |  |  | 12,392 |  |  |  | 11,436 |  |  |  | 10,574 |  |  |  | 23,929 |  |  |  | 23,616 |  |  |  | 20,766 |  |  |  | 1,020 |  |  |  | 1,142 |  |  |  | 1,050 |
Income (loss) before income taxes |  |  | 867 |  |  |  | (266 | ) |  |  | (992 | ) |  |  | 1,306 |  |  |  | 3,221 |  |  |  | 1,372 |  |  |  | 141 |  |  |  | 376 |  |  |  | 321 |
Income tax expense (benefit) (e) (note 4) |  |  | (481 | ) |  |  | (128 | ) |  |  | (286 | ) |  |  | 345 |  |  |  | 855 |  |  |  | 332 |  |  |  | 33 |  |  |  | 101 |  |  |  | 86 |
Net income (loss) |  |  | 1,348 |  |  |  | (138 | ) |  |  | (706 | ) |  |  | 961 |  |  |  | 2,366 |  |  |  | 1,040 |  |  |  | 108 |  |  |  | 275 |  |  |  | 235 |
Cash flows from (used in) operating activities |  |  | 2,423 |  |  |  | 916 |  |  |  | 1,257 |  |  |  | 1,965 |  |  |  | 2,749 |  |  |  | 1,396 |  |  |  | 172 |  |  |  | 354 |  |  |  | 235 |
Capital and exploration expenditures (f) |  |  | 1,248 |  |  |  | 991 |  |  |  | 416 |  |  |  | 484 |  |  |  | 383 |  |  |  | 200 |  |  |  | 34 |  |  |  | 25 |  |  |  | 17 |
Property, plant and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost |  |  | 47,050 |  |  |  | 46,435 |  |  |  | 45,542 |  |  |  | 6,123 |  |  |  | 5,900 |  |  |  | 5,683 |  |  |  | 954 |  |  |  | 916 |  |  |  | 888 |
Accumulated depreciation and depletion |  |  | (15,889 | ) |  |  | (15,050 | ) |  |  | (13,844 | ) |  |  | (3,830 | ) |  |  | (3,763 | ) |  |  | (3,594 | ) |  |  | (680 | ) |  |  | (662 | ) |  |  | (644 | )
Net property, plant and equipment (g) |  |  | 31,161 |  |  |  | 31,385 |  |  |  | 31,698 |  |  |  | 2,293 |  |  |  | 2,137 |  |  |  | 2,089 |  |  |  | 274 |  |  |  | 254 |  |  |  | 244 |
Total assets (h) (i) |  |  | 34,554 |  |  |  | 34,829 |  |  |  | 35,044 |  |  |  | 5,179 |  |  |  | 5,119 |  |  |  | 4,890 |  |  |  | 416 |  |  |  | 438 |  |  |  | 399 |
|  | Corporate and other |  |  | Eliminations |  |  | Consolidated |
millions of Canadian dollars |  | 2019 |  |  | 2018 |  |  | 2017 |  |  | 2019 |  |  | 2018 |  |  | 2017 |  |  | 2019 |  |  | 2018 |  |  | 2017 |
Revenues and other income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues (a) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 34,002 |  |  |  | 34,964 |  |  |  | 29,125 |
Intersegment sales |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (5,589 | ) |  |  | (4,455 | ) |  |  | (3,681 | ) |  |  | - |  |  |  | - |  |  |  | - |
Investment and other income (note 9) |  |  | 35 |  |  |  | 29 |  |  |  | 14 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 99 |  |  |  | 135 |  |  |  | 299 |
|  |  | 35 |  |  |  | 29 |  |  |  | 14 |  |  |  | (5,589 | ) |  |  | (4,455 | ) |  |  | (3,681 | ) |  |  | 34,101 |  |  |  | 35,099 |  |  |  | 29,424 |
Expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Exploration (b) (note 16) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 47 |  |  |  | 19 |  |  |  | 183 |
Purchases of crude oil and products |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (5,581 | ) |  |  | (4,449 | ) |  |  | (3,675 | ) |  |  | 20,946 |  |  |  | 21,541 |  |  |  | 18,145 |
Production and manufacturing (c) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 6,520 |  |  |  | 6,121 |  |  |  | 5,698 |
Selling and general (c) |  |  | 48 |  |  |  | 54 |  |  |  | 49 |  |  |  | (8 | ) |  |  | (6 | ) |  |  | (6 | ) |  |  | 900 |  |  |  | 908 |  |  |  | 893 |
Federal excise tax and fuel charge |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,808 |  |  |  | 1,667 |  |  |  | 1,673 |
Depreciation and depletion (b) (d) |  |  | 22 |  |  |  | 21 |  |  |  | 19 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,598 |  |  |  | 1,555 |  |  |  | 2,172 |
Non-service pension and postretirement benefit (c) |  |  | 143 |  |  |  | 107 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 143 |  |  |  | 107 |  |  |  | - |
Financing (note 13) |  |  | 90 |  |  |  | 105 |  |  |  | 65 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 93 |  |  |  | 108 |  |  |  | 78 |
Total expenses |  |  | 303 |  |  |  | 287 |  |  |  | 133 |  |  |  | (5,589 | ) |  |  | (4,455 | ) |  |  | (3,681 | ) |  |  | 32,055 |  |  |  | 32,026 |  |  |  | 28,842 |
Income (loss) before income taxes |  |  | (268 | ) |  |  | (258 | ) |  |  | (119 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 2,046 |  |  |  | 3,073 |  |  |  | 582 |
Income tax expense (benefit) (e) (note 4) |  |  | (51 | ) |  |  | (69 | ) |  |  | (40 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (154 | ) |  |  | 759 |  |  |  | 92 |
Net income (loss) |  |  | (217 | ) |  |  | (189 | ) |  |  | (79 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 2,200 |  |  |  | 2,314 |  |  |  | 490 |
Cash flows from (used in) operating activities |  |  | (124 | ) |  |  | (116 | ) |  |  | (125 | ) |  |  | (7 | ) |  |  | 19 |  |  |  | - |  |  |  | 4,429 |  |  |  | 3,922 |  |  |  | 2,763 |
Capital and exploration expenditures (f) |  |  | 48 |  |  |  | 28 |  |  |  | 38 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,814 |  |  |  | 1,427 |  |  |  | 671 |
Property, plant and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost |  |  | 741 |  |  |  | 693 |  |  |  | 665 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 54,868 |  |  |  | 53,944 |  |  |  | 52,778 |
Accumulated depreciation and depletion |  |  | (266 | ) |  |  | (244 | ) |  |  | (223 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (20,665 | ) |  |  | (19,719 | ) |  |  | (18,305 | )
Net property, plant and equipment (g) |  |  | 475 |  |  |  | 449 |  |  |  | 442 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 34,203 |  |  |  | 34,225 |  |  |  | 34,473 |
Total assets (h) (i) |  |  | 2,536 |  |  |  | 1,548 |  |  |  | 1,703 |  |  |  | (498 | ) |  |  | (478 | ) |  |  | (435 | ) |  |  | 42,187 |  |  |  | 41,456 |  |  |  | 41,601 |
(a) | Includes export sales to the United States of $7,190 million (2018 - $6,661 million, 2017 - $4,392 million). Export sales to the United States were recorded in all operating segments, with the largest effects in the Upstream segment.
(b) | The Upstream segment in 2017 includes non-cash impairment charges of $396 million, before tax, associated with the Horn River development and $379 million, before tax, associated with the Mackenzie gas project. The impairment charges are recognized in the lines “Exploration” and “Depreciation and depletion” on the Consolidated statement of income, and the “Accumulated depreciation and depletion” line of the Consolidated balance sheet.
(c) | As part of the implementation of Accounting Standard Update, Compensation – Retirement Benefits (Topic 715), beginning January 1, 2018, Corporate and other includes all non-service pension and postretirement benefit expense. Prior to 2018, the majority of these costs were allocated to the operating segments.
(d) | In 2018, the Downstream segment included a non-cash impairment charge of $46 million, before tax, associated with the Government of Ontario’s revocation of its cap and trade legislation.
(e) | Segment results in 2019 include a largely non- cash favourable impact of $662 million associated with the Alberta corporate income tax rate decrease, with the largest impact in the Upstream segment.
(f) | 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.
(g) | Includes property, plant and equipment under construction of $2,149 million (2018 - $1,553 million, 2017 - $1,047 million).
(h) | Effective January 1, 2019, Imperial adopted the Financial Accounting Standards Board’s standard, Leases (Topic 842) , as amended. As at December 31, 2019, Total assets include operating lease right of use assets of $260 million. An election was made not to restate prior periods. See note 14 for additional details.
(i) | 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 .

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=108376223&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8721-108599 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8906-108599 + Details
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