2024 Q1 Form 10-K Financial Statement

#000004993824000010 Filed on February 28, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue 12.28B cads $13.01B 50.97B cads
YoY Change 1.34% -9.67% -14.58%
Cost Of Revenue $9.370B $9.989B $39.28B
YoY Change 1.47% -8.0% -13.0%
Gross Profit $2.879B $3.019B $11.42B
YoY Change 1.98% -14.77% -19.93%
Gross Profit Margin 23.44% 23.21% 22.41%
Selling, General & Admin $837.0M $849.0M $3.259B
YoY Change 17.06% 3.54% 6.47%
% of Gross Profit 29.07% 28.12% 28.53%
Research & Development $1.000M $2.000M 84.00M cads
YoY Change 0.0% 100.0% 13.51%
% of Gross Profit 0.03% 0.07% 0.74%
Depreciation & Amortization 490.0M cads $489.0M 1.907B cads
YoY Change 0.0% 5.16% 0.53%
% of Gross Profit 17.02% 16.2% 16.69%
Operating Expenses $1.329B $1.362B 84.00M cads
YoY Change 8.4% 5.58% 13.51%
Operating Profit $1.550B $1.657B $11.34B
YoY Change -2.94% -26.42% -20.1%
Interest Expense 12.00M cads $33.00M 69.00M cads
YoY Change -25.0% 13.79% 15.0%
% of Operating Profit 0.77% 1.99% 0.61%
Other Income/Expense, Net -$1.000M -$4.000M -$7.000M
YoY Change -20.0% 16.67%
Pretax Income 1.572B cads $1.740B 6.369B cads
YoY Change -4.44% -23.65% -32.84%
Income Tax 377.0M cads $375.0M 1.480B cads
% Of Pretax Income 23.98% 21.55% 23.24%
Net Earnings 1.195B cads $1.365B 4.889B cads
YoY Change -4.25% -20.96% -33.39%
Net Earnings / Revenue 9.73% 10.49% 9.59%
Basic Earnings Per Share $2.23 $8.51
Diluted Earnings Per Share $2.23 $2.47 $8.49
COMMON SHARES
Basic Shares Outstanding 535.8M shares 574.8M shares
Diluted Shares Outstanding 536.9M shares 575.9M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.176B $864.0M
YoY Change -47.57% -76.95%
Cash & Equivalents 1.176B cads 864.0M cads
Short-Term Investments
Other Short-Term Assets $1.043B $1.008B
YoY Change 5.46% 33.69%
Inventory $2.106B $1.944B
Prepaid Expenses
Receivables $4.508B $3.434B
Other Receivables $696.0M $1.048B
Total Short-Term Assets 9.529B cads 8.298B cads
YoY Change 2.77% -22.71%
LONG-TERM ASSETS
Property, Plant & Equipment 30.84B cads 30.84B cads
YoY Change 1.3% 1.08%
Goodwill 166.0M cads 166.0M cads
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $811.0M $779.0M
YoY Change 14.55% 28.76%
Other Assets 897.0M cads 838.0M cads
YoY Change -27.66% -31.48%
Total Long-Term Assets 32.98B cads 32.90B cads
YoY Change 0.43% 0.34%
TOTAL ASSETS
Total Short-Term Assets 9.529B cads 8.298B cads
Total Long-Term Assets 32.98B cads 32.90B cads
Total Assets 42.51B cads 41.20B cads
YoY Change 0.95% -5.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.891B $5.689B
YoY Change 18.2% -6.65%
Accrued Expenses $77.00M $542.0M
YoY Change -23.0% 442.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $121.0M $121.0M
YoY Change -0.82% -0.82%
Total Short-Term Liabilities 7.106B cads 6.603B cads
YoY Change 8.37% -25.79%
LONG-TERM LIABILITIES
Long-Term Debt 3.447B cads 3.447B cads
YoY Change 0.0% 0.0%
Other Long-Term Liabilities 3.860B cads 3.851B cads
YoY Change 13.23% 11.08%
Total Long-Term Liabilities 7.307B cads 7.298B cads
YoY Change 6.58% 5.55%
TOTAL LIABILITIES
Total Short-Term Liabilities 7.106B cads 6.603B cads
Total Long-Term Liabilities 7.307B cads 7.298B cads
Total Liabilities 19.40B cads 18.98B cads
YoY Change 3.86% -10.11%
SHAREHOLDERS EQUITY
Retained Earnings 22.78B cads 21.91B cads
YoY Change -0.25% 0.28%
Common Stock 992.0M cads 992.0M cads
YoY Change -8.06% -8.06%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity 23.11B cads 22.22B cads
YoY Change
Total Liabilities & Shareholders Equity 42.51B cads 41.20B cads
YoY Change 0.95% -5.34%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income 1.195B cads $1.365B 4.889B cads
YoY Change -4.25% -20.96% -33.39%
Depreciation, Depletion And Amortization 490.0M cads $489.0M 1.907B cads
YoY Change 0.0% 5.16% 0.53%
Cash From Operating Activities 1.076B cads $1.311B 3.734B cads
YoY Change -231.06% -53.13% -64.38%
INVESTING ACTIVITIES
Capital Expenditures $497.0M $470.0M $1.785B
YoY Change 15.85% -4.47% 16.97%
Acquisitions
YoY Change
Other Investing Activities $16.00M $59.00M $91.00M
YoY Change 6.67% 210.53% -89.98%
Cash From Investing Activities -481.0M cads -$411.0M -1.694B cads
YoY Change 16.18% -13.11% 174.11%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net 3.800B cads
YoY Change -40.58%
Debt Paid & Issued, Net 0.000 cads
YoY Change -100.0%
Cash From Financing Activities -283.0M cads -2.752B -4.925B cads
YoY Change 4.43% 27.94% -40.43%
NET CHANGE
Cash From Operating Activities 1.076B cads 1.311B 3.734B cads
Cash From Investing Activities -481.0M cads -411.0M -1.694B cads
Cash From Financing Activities -283.0M cads -2.752B -4.925B cads
Net Change In Cash 312.0M cads -1.852B -2.885B cads
YoY Change -120.72% -1170.52% -280.76%
FREE CASH FLOW
Cash From Operating Activities 1.076B cads $1.311B 3.734B cads
Capital Expenditures $497.0M $470.0M $1.785B
Free Cash Flow 579.0M cads $841.0M 1.949B cads
YoY Change -146.32% -63.51% -78.24%

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CY2023Q4 us-gaap Deferred Tax Liabilities Deferred Expense Capitalized Interest
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CY2023Q4 imo Deferred Tax Assets Inventory Noncurrent
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CY2023Q4 us-gaap Deferred Tax Assets Capital Loss Carryforwards
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CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2023Q4 imo Deferred Tax Assets Other Non Current
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CY2022Q4 imo Deferred Tax Assets Other Non Current
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CY2021Q4 imo Deferred Tax Assets Other Non Current
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CY2023Q4 us-gaap Deferred Tax Liabilities
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CY2021Q4 us-gaap Unrecognized Tax Benefits
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CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
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CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
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CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
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CY2023 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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CY2022 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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CY2023Q4 imo Defined Benefit Plan Health Care Cost Trend Rate Assumed Later Than Next Fiscal Year
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CY2023 imo Actual Rate Of Return Over The Last10 Years
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CY2023 imo Actual Rate Of Return Over The Last20 Years
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CY2022Q4 imo Other Products
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CY2021 imo Out Of Period Impact Of The Inventory Write Down Adjustment Before Tax
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CY2023 us-gaap Research And Development Expense
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OperatingAndFinanceLeasesNotYetCommencedPaymentsDueYearTwo
48000000 cad
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
56000000 cad
CY2023 imo Finance Lease Principal Payments For Operating Activities
FinanceLeasePrincipalPaymentsForOperatingActivities
0 cad
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
121000000 cad
CY2022 imo Finance Lease Principal Payments For Operating Activities
FinanceLeasePrincipalPaymentsForOperatingActivities
0 cad
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
122000000 cad
CY2021 imo Finance Lease Principal Payments For Operating Activities
FinanceLeasePrincipalPaymentsForOperatingActivities
0 cad
CY2023 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
22000000 cad
CY2022 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
22000000 cad
CY2021 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
20000000 cad
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
61000000 cad
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0 cad
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
117000000 cad
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0 cad
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
176000000 cad
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
123000000 cad
CY2021Q4 imo Projects That Have Exploratory Well Costs That Have Been Capitalized
ProjectsThatHaveExploratoryWellCostsThatHaveBeenCapitalized
0 project
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
3447000000 cad
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
3447000000 cad
CY2023Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
564000000 cad
CY2022Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
586000000 cad
CY2023Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
4011000000 cad
CY2022Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
4033000000 cad
CY2023Q4 imo Maximum Longterm Borrowing From Affiliate
MaximumLongtermBorrowingFromAffiliate
7750000000 cad
CY2023 imo Cancelation Period Longterm Borrowing From Affiliate
CancelationPeriodLongtermBorrowingFromAffiliate
P370D
CY2022Q3 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1000000000 cad
CY2023 imo Finance Lease Obligation Average Imputed Rate
FinanceLeaseObligationAverageImputedRate
0.047
CY2022 imo Finance Lease Obligation Average Imputed Rate
FinanceLeaseObligationAverageImputedRate
0.047
CY2023Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
21000000 cad
CY2022Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
22000000 cad
CY2023Q4 us-gaap Finance Lease Liability Payments Due In Rolling Year Two
FinanceLeaseLiabilityPaymentsDueInRollingYearTwo
18000000 cad
CY2023Q4 us-gaap Finance Lease Liability Payments Due In Rolling Year Four
FinanceLeaseLiabilityPaymentsDueInRollingYearFour
18000000 cad
CY2023Q4 us-gaap Finance Lease Liability Payments Due In Rolling Year Three
FinanceLeaseLiabilityPaymentsDueInRollingYearThree
18000000 cad
CY2023Q4 us-gaap Finance Lease Liability Payments Due In Rolling Year Five
FinanceLeaseLiabilityPaymentsDueInRollingYearFive
18000000 cad
CY2022Q4 us-gaap Capitalized Exploratory Well Costs
CapitalizedExploratoryWellCosts
0 cad
CY2023Q4 us-gaap Capitalized Exploratory Well Costs
CapitalizedExploratoryWellCosts
0 cad
CY2021Q4 us-gaap Capitalized Exploratory Well Costs
CapitalizedExploratoryWellCosts
0 cad
CY2022Q4 imo Projects That Have Exploratory Well Costs That Have Been Capitalized
ProjectsThatHaveExploratoryWellCostsThatHaveBeenCapitalized
0 project
CY2023Q4 imo Projects That Have Exploratory Well Costs That Have Been Capitalized
ProjectsThatHaveExploratoryWellCostsThatHaveBeenCapitalized
0 project
CY2023 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodTax
-66000000 cad
CY2022 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodTax
188000000 cad
CY2021 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodTax
221000000 cad
CY2023 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
-13000000 cad
CY2022 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
-27000000 cad
CY2021 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
-43000000 cad
CY2023 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
53000000 cad
CY2022 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-215000000 cad
CY2021 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-264000000 cad
CY2022Q3 imo Discontinued Operation Gain Loss On Disposal Statement Of Income Or Comprehensive Income Extensible Enumeration Not Disclosed Flag
DiscontinuedOperationGainLossOnDisposalStatementOfIncomeOrComprehensiveIncomeExtensibleEnumerationNotDisclosedFlag
0.2 billion

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