What does upstream — tangible asset impairment charges mean?

This metric measures the non-cash expense recognized when the carrying amount of tangible upstream assets, such as oil and gas properties or production facilities, exceeds their recoverable amount. It serves as a critical indicator of the segment's capital efficiency and the impact of commodity price volatility on the valuation of long-lived assets. High charges often signal that previous capital investments are no longer supported by current or projected market cash flows.

Imperial Oil IMO Upstream — Tangible asset impairment charges

Similar metrics at other companies

XOMUpstream — Impairment, long-lived asset, held-for-use, before-tax

$400M—

CVXUpstream — Depreciation, Depletion and Amortization

$4.61B+19.0%

TALOUpstream — Impairment Of Oil And Gas Properties

-$145.02M—

CVXUpstream — Goodwill Impairment

$0—

NFGIntegrated Upstream and Gathering — Impairment of Assets

$0—

CVXUpstream Equipment — Total Assets

$257B+37.4%

Other financials

Income statement

See full

Revenue$12.4B-0.6%

Net income$940.0M-27.0%

EPS (diluted)$1.94-23.0%

Balance sheet

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Cash & equivalents$1.0B-41.7%

Total debt$4.2B-0.4%

Total equity$22.7B-6.8%

Total assets$45.5B+3.6%

Cash flow

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Operating cash flow$756.0M-50.5%

CapEx$475.0M+19.3%

Free cash flow$281.0M-75.1%

Valuation

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Market cap$54.78B+32.8%

Enterprise value$57.97B+32.6%

P/E18.8×+10.3×

P/S1.2×+0.4×

Profitability

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Net margin6.2%-3.2pp

FCF margin8.2%-0.8pp

Returns & leverage

See full

Return on equity12.4%-8.2pp

Debt / equity0.2×0.0×

Current ratio1.2×-0.2×

Where this comes from

Reported directly by Imperial Oil in its filing.

Tagged under the XBRL concept us-gaap:TangibleAssetImpairmentCharges.

The official record: Imperial Oil’s 10-K, filed February 18, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Imperial Oil's upstream — tangible asset impairment charges?: Imperial Oil (IMO) reported upstream — tangible asset impairment charges of $142M in Q4 2025.
What does upstream — tangible asset impairment charges mean?: This metric measures the non-cash expense recognized when the carrying amount of tangible upstream assets, such as oil and gas properties or production facilities, exceeds their recoverable amount. It serves as a critical indicator of the segment's capital efficiency and the impact of commodity price volatility on the valuation of long-lived assets. High charges often signal that previous capital investments are no longer supported by current or projected market cash flows.