$IMO
IMPERIAL OIL LTD

2018 Q1 Form 10-Q Financial Statement

#000119312518150341 Filed on May 03, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $7.900B $6.998B
YoY Change 12.89% 34.63%
Cost Of Revenue $6.211B $5.708B
YoY Change 8.81% 34.09%
Gross Profit $1.689B $1.290B
YoY Change 30.93% 37.09%
Gross Profit Margin 21.38% 18.43%
Selling, General & Admin $591.0M $600.0M
YoY Change -1.5% 122.22%
% of Gross Profit 34.99% 46.51%
Research & Development $8.000M $22.00M
YoY Change -63.64% 29.41%
% of Gross Profit 0.47% 1.71%
Depreciation & Amortization $377.0M $392.0M
YoY Change -3.83% -7.55%
% of Gross Profit 22.32% 30.39%
Operating Expenses $1.003B $1.014B
YoY Change -1.08% 275.56%
Operating Profit $686.0M $276.0M
YoY Change 148.55% -58.87%
Interest Expense $23.00M -$10.00M
YoY Change -330.0% -44.44%
% of Operating Profit 3.35% -3.62%
Other Income/Expense, Net $0.00 -$4.000M
YoY Change -100.0% -233.33%
Pretax Income $697.0M $420.0M
YoY Change 65.95% -381.88%
Income Tax $181.0M $87.00M
% Of Pretax Income 25.97% 20.71%
Net Earnings $516.0M $333.0M
YoY Change 54.95% -429.7%
Net Earnings / Revenue 6.53% 4.76%
Basic Earnings Per Share $0.62 $0.39
Diluted Earnings Per Share $0.62 $0.39
COMMON SHARES
Basic Shares Outstanding 829.0M 847.6M shares
Diluted Shares Outstanding 831.5M 850.3M shares

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.425B $672.0M
YoY Change 112.05% 333.55%
Cash & Equivalents $1.425B $672.0M
Short-Term Investments
Other Short-Term Assets $455.0M $457.0M
YoY Change -0.44% -44.67%
Inventory $1.262B $1.032B
Prepaid Expenses
Receivables $2.285B $1.745B
Other Receivables $0.00 $0.00
Total Short-Term Assets $5.427B $3.906B
YoY Change 38.94% 5.77%
LONG-TERM ASSETS
Property, Plant & Equipment $34.35B $36.06B
YoY Change -4.74% -2.75%
Goodwill $186.0M $186.0M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $850.0M $1.014B
YoY Change -16.17% -28.59%
Other Assets $765.0M $241.0M
YoY Change 217.43% -70.06%
Total Long-Term Assets $36.15B $37.50B
YoY Change -3.6% -5.03%
TOTAL ASSETS
Total Short-Term Assets $5.427B $3.906B
Total Long-Term Assets $36.15B $37.50B
Total Assets $41.58B $41.41B
YoY Change 0.41% -4.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.461B $2.983B
YoY Change 16.02% 5.33%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $202.0M $202.0M
YoY Change 0.0% -89.04%
Total Short-Term Liabilities $3.736B $3.209B
YoY Change 16.42% -37.3%
LONG-TERM LIABILITIES
Long-Term Debt $4.447B $4.447B
YoY Change 0.0% -31.02%
Other Long-Term Liabilities $3.851B $3.620B
YoY Change 6.38% 4.17%
Total Long-Term Liabilities $8.298B $8.067B
YoY Change 2.86% -18.7%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.736B $3.209B
Total Long-Term Liabilities $8.298B $8.067B
Total Liabilities $17.00B $16.11B
YoY Change 5.53% -18.82%
SHAREHOLDERS EQUITY
Retained Earnings $24.86B $25.56B
YoY Change -2.73% 8.91%
Common Stock $1.523B $1.566B
YoY Change -2.75% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $24.58B $25.30B
YoY Change
Total Liabilities & Shareholders Equity $41.58B $41.41B
YoY Change 0.41% -4.11%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income $516.0M $333.0M
YoY Change 54.95% -429.7%
Depreciation, Depletion And Amortization $377.0M $392.0M
YoY Change -3.83% -7.55%
Cash From Operating Activities $985.0M $354.0M
YoY Change 178.25% 622.45%
INVESTING ACTIVITIES
Capital Expenditures -$371.0M -$122.0M
YoY Change 204.1% -68.8%
Acquisitions
YoY Change
Other Investing Activities $6.000M $183.0M
YoY Change -96.72% 454.55%
Cash From Investing Activities -$365.0M $61.00M
YoY Change -698.36% -117.04%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $250.0M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -390.0M -134.0M
YoY Change 191.04% -151.34%
NET CHANGE
Cash From Operating Activities 985.0M 354.0M
Cash From Investing Activities -365.0M 61.00M
Cash From Financing Activities -390.0M -134.0M
Net Change In Cash 230.0M 281.0M
YoY Change -18.15% -685.42%
FREE CASH FLOW
Cash From Operating Activities $985.0M $354.0M
Capital Expenditures -$371.0M -$122.0M
Free Cash Flow $1.356B $476.0M
YoY Change 184.87% 8.18%

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CY2018Q1 us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
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<div> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"> <b>13. Recently issued accounting standards</b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"> Effective January&#xA0;1, 2019, Imperial will adopt the Financial Accounting Standards Board&#x2019;s standard, <i>Leases,</i> as amended<i>.</i> The standard requires all leases with an initial term greater than one year be recorded on the balance sheet as an asset and a lease liability. Imperial is gathering and evaluating data, and recently acquired a system to facilitate implementation. The company continues to progress an assessment of the magnitude of the effect on the company&#x2019;s financial statements.</p> </div>
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6000000
CY2018Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
250000000
CY2018Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-5000000
CY2018Q1 us-gaap Interest Paid Capitalized
InterestPaidCapitalized
7000000
CY2018Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
371000000
CY2018Q1 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-106000000
CY2018Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-427000000
CY2018Q1 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
10000000
CY2018Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
531000000
CY2018Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
134000000
CY2018Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-23000000
CY2018Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
15000000
CY2018Q1 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
34000000
CY2018Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
697000000
CY2018Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
377000000
CY2018Q1 us-gaap Dividends
Dividends
132000000
CY2018Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
181000000
CY2018Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-365000000
CY2018Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
12000000
CY2018Q1 us-gaap Interest And Debt Expense
InterestAndDebtExpense
30000000
CY2018Q1 us-gaap Costs And Expenses
CostsAndExpenses
7237000000
CY2018Q1 us-gaap Exploration Expense
ExplorationExpense
8000000
CY2018Q1 us-gaap Interest Expense Debt
InterestExpenseDebt
23000000
CY2018Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-390000000
CY2018Q1 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditTax
12000000
CY2018Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
230000000
CY2018Q1 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
16000000
CY2018Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-415000000
CY2018Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodTax
-7000000
CY2018Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0
CY2018Q1 imo Share Purchases In Excess Of Stated Value
SharePurchasesInExcessOfStatedValue
-237000000
CY2018Q1 imo Increase Decrease In Inventories Materials And Supplies And Prepaid Expenses
IncreaseDecreaseInInventoriesMaterialsAndSuppliesAndPrepaidExpenses
217000000
CY2018Q1 imo Production And Manufacturing Expenses
ProductionAndManufacturingExpenses
1431000000
CY2018Q1 imo Crude Oil And Product Purchases
CrudeOilAndProductPurchases
4780000000
CY2018Q1 imo Contribution To Registered Pension Plan Assets
ContributionToRegisteredPensionPlanAssets
-44000000
CY2018Q1 imo Federal Excise Tax
FederalExciseTax
397000000
CY2018Q1 imo Crude Oil And Product Purchases Related Parties
CrudeOilAndProductPurchasesRelatedParties
892000000
CY2018Q1 imo Production And Manufacturing Expenses Related Parties
ProductionAndManufacturingExpensesRelatedParties
141000000
CY2018Q1 imo Investment And Other Income Net
InvestmentAndOtherIncomeNet
34000000
CY2018Q1 imo Net Gain Loss On Asset Sales After Tax
NetGainLossOnAssetSalesAfterTax
7000000
CY2018Q1 imo Book Value Of Assets Sold
BookValueOfAssetsSold
2000000
CY2018Q1 imo Selling And General
SellingAndGeneral
194000000
CY2018Q1 imo Total Revenues And Other Income
TotalRevenuesAndOtherIncome
7934000000
CY2018Q1 imo Capital And Exploration Expenditures
CapitalAndExplorationExpenditures
274000000
CY2018Q1 imo Deferred Income Taxes And Other
DeferredIncomeTaxesAndOther
185000000
CY2018Q1 imo Pension And Post Retirement Benefit Costs Non Service Components
PensionAndPostRetirementBenefitCostsNonServiceComponents
27000000
CY2018Q1 imo Revenues Including Federal Excise Tax
RevenuesIncludingFederalExciseTax
7900000000
CY2018Q1 imo Selling And General1
SellingAndGeneral1
194000000
CY2018Q1 imo Production And Manufacturing Expenses1
ProductionAndManufacturingExpenses1
1431000000

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