Imperial Oil IMO Upstream — Tangible asset impairment charges
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Where this comes from
Reported directly by Imperial Oil in its filing.
Tagged under the XBRL concept us-gaap:TangibleAssetImpairmentCharges.
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 — 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.
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