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Consolidated balance sheet - CAD ($)
$ in Millions
Dec. 31, 2019
Dec. 31, 2018
Current assets    
Cash [1] $ 1,718 $ 988
Accounts receivable, less estimated doubtful accounts [2] 2,699 2,529
Inventories of crude oil and products (note 12) 1,296 1,297
Materials, supplies and prepaid expenses 616 541
Total current assets 6,329 5,355
Investments and long-term receivables [3] 891 857
Property, plant and equipment, less accumulated depreciation and depletion [4] 34,203 34,225
Goodwill 186 186
Other assets, including intangibles, net 578 833
Total assets [5],[6] 42,187 41,456
Current liabilities    
Notes and loans payable (note 13) [7] 229 202
Accounts payable and accrued liabilities (note 12) [2] 4,260 3,688
Income taxes payable 106 65
Total current liabilities 4,595 3,955
Long-term debt (note 15) [8] 4,961 4,978
Other long-term obligations (note 6) [9] 3,637 2,943
Deferred income tax liabilities (note 4) 4,718 5,091
Total liabilities 17,911 16,967
Shareholders' equity    
Common shares at stated value (note 11) [10] 1,375 1,446
Earnings reinvested 24,812 24,560
Accumulated other comprehensive income (loss) (note 18) (1,911) (1,517)
Total shareholders' equity 24,276 24,489
Total liabilities and shareholders' equity $ 42,187 $ 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 $1,007 million (2018 – $666 million), (note 17).
[3] Investments and long-term receivables included amounts from related parties of $296 million (2018 – $146 million), (note 17).
[4] Includes property, plant and equipment under construction of $2,149 million (2018 - $1,553 million, 2017 - $1,047 million).
[5] 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.
[6] 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.
[7] Notes and loans payable included amounts to related parties of $111 million (2018 – $75 million), (note 17).
[8] Long-term debt included amounts to related parties of $4,447 million (2018 – $4,447 million), (note 17).
[9] Other long-term obligations included amounts to related parties of $0 million (2018 – $15 million), (note 17).
[10] Number of common shares authorized and outstanding were 1,100 million and 744 million, respectively (2018 – 1,100 million and 783 million, respectively), (note 11).