Long-term debt (Tables)

12 Months Ended

Dec. 31, 2025


At December 31
millions of Canadian dollars	2025	2024
Long-term debt (a) (b)	3,447	3,447
Finance leases (c)	531	545
Total long-term debt	3,978	3,992
(a)Borrowed under an existing agreement with an affiliated company of ExxonMobil that provides for a long-term, variable-rate, Canadian dollar loan from ExxonMobil to the company of up to $7.75 billion at interest equivalent to Canadian market rates. The agreement is effective until June 30, 2035, cancellable if ExxonMobil provides at least 370 days advance written notice. (b)The weighted-average interest rate on long-term borrowings outstanding with ExxonMobil, at December 31, 2025 was 2.7 percent (2024 - 3.9 percent). (c)Finance leases are primarily associated with transportation facilities and services agreements. The average imputed interest rate was 5.8 percent in 2025 (2024 - 4.8 percent). Total finance lease obligations also include $19 million in current liabilities (2024 - $18 million). Principal payments on finance leases of approximately $17 million on average per year are due in each of the next four years after December 31, 2026.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details

IMPERIAL OIL LTD 10-K