Legal How to End Deferred Retirement Option Plan

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Legal How to End Deferred Retirement Option Plan Powered By Docstoc
					     Consolidated Statement of Income. U.S. GAAP (CAD $)
                                                                              12 Months Ended
                                                                               Dec. 31, 2009
                 In Millions, except Per Share data
Revenues and other income
                                                                                                          [1],[2]
Operating revenues                                                                             $21,292
Investment and other income (note 9)                                                               106
Total revenues and other income                                                                 21,398
Expenses
Exploration                                                                                        153
                                                                                                          [4]
Purchases of crude oil and products                                                             11,934
                                                                                                          [3]
Production and manufacturing                                                                     3,951
Selling and general                                                                              1,106
                                                                                                          [2]
Federal excise tax                                                                               1,268
Depreciation and depletion                                                                         781
Financing costs (note 13)                                                                            5
Total expenses                                                                                  19,198
Income before income taxes                                                                        2,200
Income taxes (note 4)                                                                              621
Net income                                                                                      $1,579
Per-share information (Canadian dollars)
Net income per common share - basic (note 11)                                                      $1.86
Net income per common share - diluted (note 11)                                                    $1.84
Dividends                                                                                           $0.4
[1]Operating revenues include amounts from related parties of $1,699 million (2008 - $2,150 million, 2007 - $1,772 million), (n
[2]Operating revenues include federal excise tax of $1,268 million (2008 - $1,312 million, 2007 - $1,307 million).
[3]Production and manufacturing expenses include amounts to related parties of $217 million (2008 - $169 million, 2007 - $15
[4]Purchases of crude oil and products include amounts from related parties of $3,111 million (2008 - $4,729 million, 2007 - $3
                 12 Months Ended                        12 Months Ended
                  Dec. 31, 2008                          Dec. 31, 2007


                                              [1],[2]                             [1],[2]
                                   $31,240                           $25,069
                                       339                               374
                                    31,579                            25,443


                                       132                               106
                                              [4]                                 [4]
                                    18,865                            14,026
                                              [3]                                 [3]
                                     4,228                             3,474
                                     1,038                             1,335
                                              [2]                                 [2]
                                     1,312                             1,307
                                       728                               780
                                         0                                36
                                    26,303                            21,064
                                      5,276                               4,379
                                     1,398                             1,191
                                    $3,878                            $3,188


                                      $4.39                               $3.43
                                      $4.36                               $3.41
                                      $0.38                               $0.35
on, 2007 - $1,772 million), (note 15).
$1,307 million).
08 - $169 million, 2007 - $154 million), (note 15).
08 - $4,729 million, 2007 - $3,331 million), (note 15).
          Consolidated Balance Sheet. U.S. GAAP (CAD $)
                                                                                 Dec. 31, 2009
                               In Millions
Current Assets
                                                                                                           [2]
Cash                                                                                                $513
Accounts receivable, less estimated doubtful amounts                                               1,714
Inventories of crude oil and products (note 12)                                                      564
Materials, supplies and prepaid expenses                                                             247
Deferred income tax assets (note 4)                                                                  467
Total current assets                                                                               3,505
Long-term receivables, investments and other long-term assets                                        854
Property, plant and equipment, less accumulated depreciation and
depletion (note 3)                                                                                12,852
Goodwill (note 3)                                                                                    204
Other intangible assets, net                                                                          58
Total assets (note 3)                                                                             17,473
Current liabilities
Notes and loans payable (note 13)                                                                    109
                                                                                                           [1]
Accounts payable and accrued liabilities                                                           2,811
Income taxes payable                                                                                 848
Total current liabilities                                                                          3,768
Capitalized lease obligations (note 14)                                                               31
Other long-term obligations (note 6)                                                               2,839
Deferred income tax liabilities (note 4)                                                           1,396
Total liabilities                                                                                  8,034
Shareholders' equity
                                                                                                           [3]
Common shares at stated value (note 11)                                                            1,508
Earnings reinvested                                                                                9,252
Accumulated other comprehensive income                                                           (1,321)
Total shareholders' equity                                                                         9,439
Total liabilities and shareholders' equity                                                       $17,473
[1]Accounts payable and accrued liabilities include amounts to related parties of $59 million (2008 - $127 million), (note 15).
[2]Cash is composed of cash in bank and cash equivalents at cost. Cash equivalents are all highly liquid securities with maturit
[3]Number of common shares outstanding was 848 million (2008 - 859 million), (note 11).
                   Dec. 31, 2008


                                             [2]
                                    $1,974
                                     1,455
                                       673
                                       180
                                       361
                                     4,643
                                       881

                                    11,248
                                       204
                                        59
                                    17,035


                                       109
                                             [1]
                                     2,586
                                     1,498
                                     4,193
                                        34
                                     2,254
                                     1,489
                                     7,970

                                             [3]
                                     1,528
                                     8,484
                                     (947)
                                     9,065
                                   $17,035
8 - $127 million), (note 15).
 liquid securities with maturity of three months or less when purchased.
  Statement Of Shareholders Equity And Other Comprehensive
                 Income U.S. GAAP (CAD $)


                                 In Millions
At beginning of year at Dec. 31, 2006                                       $1,677
Cumulative effect of accounting change (note 4)
Post-retirement benefits liability adjustment (note 5)
Issued under the stock option plan                                             12
Net income for the year
Amortization of post-retirement benefits liability adjustment included in
net periodic benefit cost
Share purchases at stated value                                               (89)
Share purchases in excess of stated value
Other comprehensive income
Dividends
At end of year at Dec. 31, 2007                                              1,600
Cumulative effect of accounting change (note 4)
Post-retirement benefits liability adjustment (note 5)
Issued under the stock option plan                                              7
Net income for the year
Amortization of post-retirement benefits liability adjustment included in
net periodic benefit cost
Share purchases at stated value                                               (79)
Share purchases in excess of stated value
Other comprehensive income
Dividends
At end of year at Dec. 31, 2008                                              1,528
Cumulative effect of accounting change (note 4)
Post-retirement benefits liability adjustment (note 5)
Issued under the stock option plan                                              1
Net income for the year
Amortization of post-retirement benefits liability adjustment included in
net periodic benefit cost
Share purchases at stated value                                               (21)
Share purchases in excess of stated value
Other comprehensive income
Dividends
At end of year at Dec. 31, 2009                                             $1,508
                            Accumulated other
Earnings reinvested       comprehensive income        Total

                 $6,462                    ($733)
                     14
                                             (87)

                  3,188                                        3,188

                                                 72

                (2,269)

                  (324)
                  7,071                     (748)              7,923
                      0
                                            (283)

                  3,878                                        3,878

                                                 84

                (2,131)

                  (334)
                  8,484                     (947)              9,065
                      0
                                            (468)

                  1,579                                        1,579

                                                 94

                  (471)

                  (340)
                 $9,252                  ($1,321)             $9,439
   Consolidated Statement of Cash Flows. U.S. GAAP (CAD $)
                                                                               12 Months Ended
                                                                                Dec. 31, 2009
                               In Millions
Operating activities
Net income                                                                                        $1,579
Adjustments for non-cash items:
Depreciation and depletion                                                                            781
(Gain)/loss on asset sales                                                                           (45)
Deferred income taxes and other                                                                      (61)
Changes in operating assets and liabilities:
Accounts receivable                                                                                (261)
Inventories and prepaids                                                                              42
Income taxes payable                                                                               (650)
Accounts payable                                                                                     271
                                                                                                            [2]
All other items - net                                                                               (65)
Cash from operating activities                                                                     1,591
Investing activities
Additions to property, plant and equipment and intangibles                                       (2,285)
Proceeds from asset sales                                                                             67
Loans to equity company                                                                                2
Cash from (used in) investing activities                                                         (2,216)
Financing activities
Short-term debt - net                                                                                  0
Repayment of long-term debt                                                                            0
Long-term debt issued                                                                                  0
Reduction in capitalized lease obligations                                                           (4)
Issuance of common shares under stock option plan                                                      1
Common shares purchased (note 11)                                                                  (492)
Dividends paid                                                                                     (341)
Cash from (used in) financing activities                                                           (836)
Increase (decrease) in cash                                                                      (1,461)
Cash at beginning of year                                                                           1,974 [1]
Cash at end of year                                                                                  $513 [1]
[1]Cash is composed of cash in bank and cash equivalents at cost. Cash equivalents are all highly liquid securities with maturit
[2]Includes contribution to registered pension plans of $180 million (2008 - $165 million, 2007 - $163 million).
                12 Months Ended                     12 Months Ended
                 Dec. 31, 2008                       Dec. 31, 2007



                                   $3,878                              $3,188

                                      728                                 780
                                    (241)                               (215)
                                      387                                  75

                                      679                               (261)
                                    (159)                                  13
                                        0                                (77)
                                    (798)                                 250
                                             [2]                                 [2]
                                    (211)                               (127)
                                    4,263                               3,626


                                  (1,231)                               (899)
                                      272                                 279
                                       (2)                                  0
                                    (961)                               (620)


                                        0                                (65)
                                        0                             (1,722)
                                        0                                 500
                                      (3)                                  (4)
                                        7                                   12
                                  (2,210)                             (2,358)
                                    (330)                               (319)
                                  (2,536)                             (3,956)
                                      766                               (950)
                                             [1]
                                       1,208                             2,158
                                      $1,974 [1]                        $1,208   [1]

liquid securities with maturity of three months or less when purchased.
163 million).
            Summary of significant accounting policies
                                                             12 Months Ended
                                                              Dec. 31, 2009
                                                                 CAD ($)
                                                               CAD / shares

                                                         1. Summary of
                                                         significant accounting
                                                         policies Principles of
                                                         consolidation The
                                                         consolidated financial
                                                         statements include the
                                                         accounts of Imperial Oil
                                                         Limited and its subsidiaries.
                                                         Intercompany accounts and
                                                         transactions are eliminated.
                                                         Subsidiaries include those
                                                         companies in which Imperial
                                                         has both an equity interest
                                                         and the continuing ability to
                                                         unilaterally determine
                                                         strategic, operating,
                                                         investing and financing
                                                         policies. Significant
                                                         subsidiaries included in the
                                                         consolidated financial
                                                         statements include Imperial
                                                         Oil Resources Limited,
                                                         Imperial Oil Resources
                                                         N.W.T. Limited, Imperial Oil
                                                         Resources Ventures Limited
                                                         and McColl-Frontenac
                                                         Petroleum Inc. All of the
                                                         above companies are wholly
                                                         owned. A significant portion
                                                         of the companys Upstream
                                                         activities is conducted jointly
Summary of significant accounting policies               with other companies. The
                                                         accounts reflect the
                     Accounting changes
                                              12 Months Ended
                                               Dec. 31, 2009
                                                  CAD ($)
                                                CAD / shares

                                          2. Accounting changes
                                          Fair value
                                          measurements Effective
                                          January1, 2009, the
                                          company adopted the
                                          authoritative guidance for
                                          fair value measurements as
                                          they relate to nonfinancial
                                          assets and liabilities that are
                                          measured at fair value on a
                                          nonrecurring basis. The
                                          guidance defines fair value,
                                          establishes a framework for
                                          measuring fair value when
                                          an entity is required to use a
                                          fair value measure for
                                          recognition or disclosure
                                          purposes and expands the
                                          disclosures about fair value
                                          measures. The adoption did
                                          not have a material impact
                                          on the companys financial
                                          statements. The company
                                          previously adopted the
                                          guidance as it relates to
                                          financial assets and liabilities
                                          that are measured at fair
                                          value and for nonfinancial
                                          assets and liabilities that are
                                          measured at fair value on a
                                          recurring basis. Oil and
Accounting changes                        gas reserves Effective
                                          December31, 2009, the
                    Business segments
                                           12 Months Ended
                                            Dec. 31, 2009
                                               CAD ($)
                                             CAD / shares

                                        3. Business segments
                                        The company operates
                                        its business in Canada. The
                                        Upstream, Downstream and
                                        Chemical functions best
                                        define the operating
                                        segments of the business
                                        that are reported separately.
                                        The factors used to identify
                                        these reportable segments
                                        are based on the nature of
                                        the operations that are
                                        undertaken by each segment
                                        and the structure of the
                                        companys internal
                                        organization. The Upstream
                                        segment is organized and
                                        operates to explore for and
                                        ultimately produce crude oil
                                        and its equivalent, and
                                        natural gas. The
                                        Downstream segment is
                                        organized and operates to
                                        refine crude oil into
                                        petroleum products and the
                                        distribution and marketing of
                                        these products. The
                                        Chemical segment is
                                        organized and operates to
                                        manufacture and market
                                        hydrocarbon-based
Business segments                       chemicals and chemical
                                        products. The above
               Income taxes
                                 12 Months Ended
                                  Dec. 31, 2009
                                     CAD ($)
                                   CAD / shares

                              4. Income taxes

                               millions of
                              dollars 2009
                              2008 2007
                              Current income tax
                              expense 694
                              1,005 1,163
                              Deferred income tax
                              expense (a) (73)
                              393 28
                              Total income tax
                              expense (b) 621
                              1,398 1,191
                              Statutory corporate
                              tax rate (percent) 28.7
                               29.5 30.1
                              Increase/(decrease)
                              resulting from:

                              Enacted tax rate
                              change 0.2
                               (2.2) Other
                              (0.7) (3.0)
                               (0.7)
                              Effective income tax
                              rate 28.2 26.5
                               27.2 a)
                              The provisions for deferred
                              income taxes in 2009 include
                              net (charges)/credits for the
Income taxes                  effect of changes in tax laws
                              and rates of $(4) million
                   Employee retirement benefits
                                                      12 Months Ended
                                                       Dec. 31, 2009
                                                          CAD ($)
                                                        CAD / shares

                                                  5. Employee
                                                  retirement benefits
                                                  Retirement benefits,
                                                  which cover almost all retired
                                                  employees and their
                                                  surviving spouses, include
                                                  pension income and certain
                                                  health care and life insurance
                                                  benefits. They are met
                                                  through funded registered
                                                  retirement plans and through
                                                  unfunded supplementary
                                                  benefits that are paid directly
                                                  to recipients. Pension
                                                  income benefits consist
                                                  mainly of company-paid
                                                  defined benefit plans that
                                                  are based on years of service
                                                  and final average earnings.
                                                  The company shares in the
                                                  cost of health care and life
                                                  insurance benefits. The
                                                  companys benefit obligations
                                                  are based on the projected
                                                  benefit method of valuation
                                                  that includes employee
                                                  service to date and present
                                                  compensation levels as well
                                                  as a projection of salaries to
                                                  retirement. The expense
                                                  and obligations for both
Employee retirement benefits                      funded and unfunded
                                                  benefits are determined in
                    Other long-term obligations
                                                     12 Months Ended
                                                      Dec. 31, 2009
                                                         CAD ($)
                                                       CAD / shares

                                                  6. Other long-term
                                                  obligations
                                                   millions of
                                                  dollars 2009 2008
                                                  Employee retirement
                                                  benefits (note 5) (a)
                                                  1,682 1,151
                                                  Asset retirement
                                                  obligations and other
                                                  environmental liabilities (b)
                                                  806 728
                                                  Share-based incentive
                                                  compensation liabilities (note
                                                  8) 144 159
                                                  Other obligations
                                                  207 216
                                                  Total other long-term
                                                  obligations 2,839
                                                  2,254 a)
                                                  Total recorded employee
                                                  retirement benefit obligations
                                                  also include $47 million in
                                                  current liabilities (2008 $45
                                                  million). b) Total
                                                  asset retirement obligations
                                                  and other environmental
                                                  liabilities also include $114
                                                  million in current liabilities
                                                  (2008 $83 million).
                                                  Asset retirement
                                                  obligations incurred in the
Other long-term obligations                       current period were Level 3
                                                  (unobservable inputs) fair
               Derivatives and financial instruments
                                                          12 Months Ended
                                                           Dec. 31, 2009
                                                              CAD ($)
                                                            CAD / shares

                                                       7. Derivatives and
                                                       financial instruments
                                                       The company did not
                                                       enter into any energy
                                                       derivatives, foreign-exchange
                                                       forward contracts or
                                                       currency and interest-rate
                                                       swaps in the past three
                                                       years. The company
                                                       maintains a system of
                                                       controls that includes a
                                                       policy covering the
                                                       authorization, reporting and
                                                       monitoring of derivative
                                                       activity. The fair value of
                                                       the companys financial
                                                       instruments is determined by
                                                       reference to various market
                                                       data and other appropriate
                                                       valuation techniques. There
                                                       are no material differences
                                                       between the fair values of
                                                       the companys financial
                                                       instruments and the
                                                       recorded book value.
Derivatives and financial instruments
         Share-based incentive compensation programs
                                                          12 Months Ended
                                                           Dec. 31, 2009
                                                              CAD ($)
                                                            CAD / shares

                                                       8. Share-based
                                                       incentive compensation
                                                       programs Share-based
                                                       incentive compensation
                                                       programs are designed to
                                                       retain selected employees,
                                                       reward them for high
                                                       performance and promote
                                                       individual contribution to
                                                       sustained improvement in
                                                       the companys future
                                                       business performance and
                                                       shareholder value.
                                                       Incentive share units,
                                                       deferred share units and
                                                       restricted stock units
                                                       Incentive share units
                                                       have value if the market
                                                       price of the companys
                                                       common shares when the
                                                       unit is exercised exceeds the
                                                       market value when the unit
                                                       was issued, as adjusted for
                                                       any share splits. The issue
                                                       price of incentive share units
                                                       is the closing price of the
                                                       companys shares on the
                                                       Toronto Stock Exchange on
                                                       the grant date. Up to 50
                                                       percent of the units may be
                                                       exercised after one year
Share-based incentive compensation programs            from issuance; an additional
                                                       25 percent may be exercised
                  Investment and other income
                                                   12 Months Ended
                                                    Dec. 31, 2009
                                                       CAD ($)
                                                     CAD / shares

                                                9. Investment and
                                                other income
                                                Investment and other
                                                income includes gains and
                                                losses on asset sales as
                                                follows:
                                                   millions
                                                of dollars 2009
                                                2008 2007
                                                Proceeds from asset
                                                sales 67 272
                                                 279 Book
                                                value of assets sold 22
                                                  31 64
                                                Gain/(loss) on asset
                                                sales, before tax (a)(b)
                                                45 241
                                                215 Gain/(loss)
                                                on asset sales, after tax
                                                (a)(b) 38 209
                                                  156 a)
                                                2007 included a gain of
                                                $200 million ($142 million,
                                                after tax) from the sale of
                                                the companys interests in a
                                                natural gas producing
                                                property in British Columbia
                                                and in the Willesden Green
                                                producing property.
                                                b) 2008 included a
                                                gain of $219 million ($187
Investment and other income                     million, after tax) from the
                                                sale of the companys equity
                 Litigation and other contingencies
                                                          12 Months Ended
                                                           Dec. 31, 2009
                                                              CAD ($)
                                                            CAD / shares

                                                      10. Litigation and
                                                      other contingencies A
                                                      variety of claims have been
                                                      made against Imperial Oil
                                                      Limited and its subsidiaries in
                                                      a number of lawsuits.
                                                      Management has regular
                                                      litigation reviews, including
                                                      updates from corporate and
                                                      outside counsel, to assess
                                                      the need for accounting
                                                      recognition or disclosure of
                                                      these contingencies. The
                                                      company accrues an
                                                      undiscounted liability for
                                                      those contingencies where
                                                      the incurrence of a loss is
                                                      probable and the amount
                                                      can be reasonably estimated.
                                                      If a range of amounts can be
                                                      reasonably estimated and no
                                                      amount within the range is a
                                                      better estimate than any
                                                      other amount, then the
                                                      minimum of the range is
                                                      accrued. The company does
                                                      not record liabilities when
                                                      the likelihood that the
                                                      liability has been incurred is
                                                      probable but the amount
                                                      cannot be reasonably
Litigation and other contingencies                    estimated or when the
                                                      liability is believed to be only
                Common shares
                                   12 Months Ended
                                    Dec. 31, 2009
                                       CAD ($)
                                     CAD / shares

                                11. Common shares

                                thousands of shares
                                 As at Dec. 31
                                2009     As at
                                 Dec. 31 2008
                                Authorized
                                1,100,000
                                1,100,000 From
                                1995 through 2008, the
                                company purchased shares
                                under fourteen 12-month
                                normal course issuer bid
                                share repurchase programs,
                                as well as an auction tender.
                                On June25, 2009, another 12-
                                month normal course issuer
                                bid program was
                                implemented with an
                                allowable purchase of
                                42.4million shares (five
                                percent of the total on
                                June15, 2009), less shares
                                purchased from Exxon Mobil
                                Corporation and shares
                                purchased by the employee
                                savings plan and company
                                pension fund. The results of
                                these activities are as shown
                                below.
                                Year
Common shares                   Purchased shares
                                (thousands)
                Miscellaneous financial information
                                                         12 Months Ended
                                                          Dec. 31, 2009
                                                             CAD ($)
                                                           CAD / shares

                                                       12. Miscellaneous
                                                      financial information
                                                      In 2009, net income
                                                      included an after-tax gain of
                                                      $46 million (2008 $27
                                                      million gain, 2007 $25
                                                      million gain) attributable to
                                                      the effect of changes in last-
                                                      in, first-out (LIFO)
                                                      inventories. The replacement
                                                      cost of inventories was
                                                      estimated to exceed their
                                                      LIFO carrying values at
                                                      December31, 2009 by $1,579
                                                      million (2008 $994 million).
                                                      Inventories of crude oil and
                                                      products at year-end
                                                      consisted of the following:

                                                      millions of dollars 2009
                                                        2008
                                                      Crude oil
                                                      312 328
                                                      Petroleum
                                                      products 186
                                                      268
                                                      Chemical
                                                      products 53
                                                      65
                                                      Natural gas and
                                                      other 13 12
Miscellaneous financial information                    Total
                                                      inventories of crude oil and
                  Financing costs
                                       12 Months Ended
                                        Dec. 31, 2009
                                           CAD ($)
                                         CAD / shares

                                    13. Financing costs

                                    millions of dollars 2009
                                      2008
                                    2007 Debt-
                                    related interest 5
                                    8 62
                                    Capitalized interest
                                    (5) (8)
                                    (36) Net interest
                                    expense
                                     26 Other
                                    interest 5
                                      10 Total
                                    financing costs (a) 5
                                        36
                                    a) Cash interest
                                    payments in 2009 were $8
                                    million (2008 $6 million,
                                    2007 $80 million). The
                                    weighted average interest
                                    rate on short-term
                                    borrowings in 2009 was 0.7
Financing costs                     percent (2008 3.5 percent).
         Leased facilities and capitalized lease obligations
                                                                   12 Months Ended
                                                                    Dec. 31, 2009
                                                                       CAD ($)
                                                                     CAD / shares

                                                               14. Leased facilities
                                                               and capitalized lease
                                                               obligations At
                                                               December31, 2009, the
                                                               company held non-
                                                               cancelable operating leases
                                                               covering office buildings, rail
                                                               cars, service stations and
                                                               other properties with
                                                               minimum undiscounted lease
                                                               commitments totaling $415
                                                               million as indicated in the
                                                               following table:

                                                                 Payments
                                                               due by period
                                                               millions of dollars 2010
                                                               2011 2012
                                                               2013 2014
                                                               After 2014 Total
                                                                Lease payments
                                                               under minimum
                                                               commitments (a) 72
                                                               68 59 53
                                                               49 114 415
                                                                 a)
                                                               Total rental
                                                               expenditures incurred for
                                                               operating leases in 2009 was
                                                               $129 million (2008 $149
                                                               million, 2007 $98 million),
Leased facilities and capitalized lease obligations            which included minimum
                                                               rental expenditures of $128
                  Transactions with related parties
                                                         12 Months Ended
                                                          Dec. 31, 2009
                                                             CAD ($)
                                                           CAD / shares

                                                      15. Transactions with
                                                      related parties Revenues
                                                      and expenses of the
                                                      company also include the
                                                      results of transactions with
                                                      Exxon Mobil Corporation and
                                                      affiliated companies
                                                      (ExxonMobil) in the normal
                                                      course of operations. These
                                                      were conducted on terms as
                                                      favourable as they would
                                                      have been with unrelated
                                                      parties and primarily
                                                      consisted of the purchase
                                                      and sale of crude oil, natural
                                                      gas, petroleum and chemical
                                                      products, as well as
                                                      transportation, technical and
                                                      engineering services.
                                                      Transactions with ExxonMobil
                                                      also included amounts paid
                                                      and received in connection
                                                      with the companys
                                                      participation in a number of
                                                      upstream activities
                                                      conducted jointly in Canada.
                                                      In addition, the
                                                      company has existing
                                                      agreements with ExxonMobil
                                                      to: a) provide
                                                      computer and customer
Transactions with related parties                     support services to the
                                                      company and to share
                     Document Information
                                               12 Months Ended
                                                Dec. 31, 2009
                                                   CAD ($)
                                                 CAD / shares

Document Type                               10-K
Amendment Flag                              false
Document Period End Date                    2009-12-31
                   Entity Information (CAD $)
                                                   12 Months Ended
                                                    Dec. 31, 2009

Trading Symbol                                  IMO
Entity Registrant Name                          IMPERIAL OIL LTD
Entity Central Index Key                        0000049938
Current Fiscal Year End Date                    --12-31
Entity Well-known Seasoned Issuer               Yes
Entity Current Reporting Status                 Yes
Entity Voluntary Filers                         No
Entity Filer Category                           Large Accelerated Filer
Entity Common Stock, Shares Outstanding
Entity Public Float
Feb. 12, 2010          Jun. 30, 2009




         847,602,581
                            $11,626,102,344

				
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posted:11/14/2010
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Description: Legal How to End Deferred Retirement Option Plan document sample