14 unchanged sentences
not carrying on business in Canada, as long as the shareholder does not, in any given 60 month period, own 25 percent or more of the shares of the company.
−Removed: Canada has approved several positions with respect to the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (“MLI”)
+Added: Canada has approved several positions with respect to the Multilateral Convention to Implement Tax Treaty
+Added: Related Measures to Prevent Base Erosion and Profit Shifting
which may impact the taxability of dividends and capital gains in Canada if the shareholder’s country of residence has also approved these same positions of the MLI.
25 unchanged sentences
(December 1 - December 31)
−Removed: On June 23, 2020, the company announced by news release that it had received final approval from the Toronto Stock Exchange for a limited normal course issuer bid.
−Removed: The program is used primarily to eliminate dilution from shares issued in conjunction with Imperial’s restricted stock unit plan, and enables the company to purchase up to a maximum of 50,000 common shares during the period June 29, 2020 to June 28, 2021.
+Added: On June 23, 2021, the company announced by news release that it had received final approval from the Toronto Stock Exchange for a new normal course issuer bid and will continue its existing share purchase program.
+Added: The program enables the company to purchase up to a maximum of 35,583,671 common shares during the period June 29, 2021 to June 28, 2022.
This maximum includes shares purchased under the normal course issuer bid and from Exxon Mobil Corporation concurrent with, but outside of the normal course issuer bid.
1 unchanged sentence
The program will end should the company purchase the maximum allowable number of shares, or on June 28, 2022.
−Removed: The company will continue to evaluate its share purchase program in the context of its overall capital activities.
−Removed: Selected financial data
−Removed: millions of Canadian dollars
−Removed: Net income (loss)
−Removed: Total assets at year-end
−Removed: Long-term debt at year-end
−Removed: Total debt at year-end
−Removed: Other long-term obligations at year-end
−Removed: Canadian dollars
−Removed: Net income (loss) per common share - basic
−Removed: Net income (loss) per common share - diluted
−Removed: Dividends per common share - declared
−Removed: Reference is made to the table setting forth exchange rates for the Canadian dollar, expressed in U.S.
−Removed: dollars, on page 2 of this report.
+Added: In accordance with the company’s announcement in November 2021 that it intended to accelerate purchases under the normal course issuer bid, the program was subsequently completed on January 31, 2022 as a result of the company purchasing the maximum allowable number of shares under the program.
+Added: The company will continue to evaluate the renewal of its normal course issuer bid share purchase program in June 2022 in the context of its overall capital activities.
+Added: Purchase plans may be modified at any time without prior notice.
Management’s discussion and analysis of financial condition and results of operations
1 unchanged sentence
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.