Imperial Oil IMO Upstream — Impairment charges and contractual obligations expense
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Where this comes from
Reported directly by Imperial Oil in its filing.
Tagged under the XBRL concept imo:ImpairmentChargesAndContractualObligations.
The source filing: Imperial Oil’s 10-K, filed February 18, 2026.
- Filed
- Feb 18, 2026, 4:10 PM EST
- Fiscal year
- FY2025
- Accession
- 0000049938-26-000009
In the fourth quarter of 2025, the company accelerated the end of field life of the Norman Wells asset, resulting in a $421 million expense, before-tax, reported in the Upstream segment. The expense consisted of a non-cash impairment charge of $142 million, reflected in "Depreciation and depletion (includes impairments)" on the Consolidated statement of income and in "Property, plant and equipment, less accumulated depreciation and depletion" on the Consolidated balance sheet, and a one-time charge of $279 million related to contractual obligations associated with the end of field life acceleration, reflected in "Production and manufacturing" on the Consolidated statement of income.
Item 16. Form 10-K summary
FAQ
- What is Imperial Oil's upstream — impairment charges and contractual obligations expense?
- Imperial Oil (IMO) reported upstream — impairment charges and contractual obligations expense of $421M in Q4 2025.
- What does upstream — impairment charges and contractual obligations expense mean?
- This metric represents the aggregate expense recognized by the upstream segment for the write-down of asset carrying values and the recognition of liabilities related to long-term contractual commitments. It reflects non-cash accounting adjustments for asset value erosion alongside provisions for unavoidable costs associated with binding agreements. This provides insight into the segment's long-term operational risk and the financial impact of unfavorable changes in market conditions or project viability.
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