7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 2017-12-31 2017-09-30 2017-06-30 2017-03-31 2016-12-31 2016-09-30 2016-06-30 2016-03-31 2015-12-31 2015-09-30 2015-06-30 2015-03-31 2014-12-31 2014-09-30 2014-06-30 2014-03-31 2013-12-31 2013-09-30 2013-06-30 2013-03-31 2012-12-31 2012-09-30 
      
    		                                                     
      cash flows from operating activities
    		                                                     
      net income
    		167,000,000 908,000,000 526,000,000 25,000,000 369,000,000 1,020,000,000 761,000,000 1,285,000,000 2,143,000,000 1,734,000,000 2,077,000,000 2,012,000,000 5,540,000,000 3,182,000,000 657,000,000 1,371,000,000 488,000,000 374,000,000 -639,000,000 -494,000,000 -726,000,000 -67,000,000 -2,427,000,000 810,000,000 793,000,000 1,504,000,000 270,000,000 2,316,000,000 1,568,000,000 1,404,000,000 585,000,000 3,255,000,000 849,000,000 581,000,000 563,000,000 194,000,000 536,000,000 516,000,000 398,000,000 666,000,000 1,592,000,000 1,025,000,000 997,000,000 1,158,000,000 1,189,000,000 872,000,000 1,578,000,000 833,000,000 540,000,000 960,000,000 1,410,000,000 710,000,000 1,601,000,000 
      adjustments to reconcile net income to net cash from operating activities
    		                                                     
      depreciation and amortization
    		826,000,000 816,000,000 791,000,000 819,000,000 543,000,000 497,000,000 504,000,000 518,000,000 488,000,000 495,000,000 476,000,000 502,000,000 430,000,000 359,000,000 338,000,000 524,000,000 361,000,000 364,000,000 356,000,000 358,000,000 352,000,000 343,000,000 342,000,000 340,000,000 336,000,000 334,000,000 331,000,000 337,000,000 346,000,000 337,000,000 336,000,000 346,000,000 337,000,000 320,000,000 315,000,000 305,000,000 293,000,000 290,000,000 280,000,000 281,000,000 270,000,000 274,000,000 253,000,000 273,000,000 249,000,000 239,000,000 234,000,000 235,000,000 236,000,000 231,000,000 245,000,000 244,000,000 229,000,000 
      impairments
    		951,000,000 4,000,000 26,000,000 37,000,000 29,000,000 225,000,000 165,000,000 9,000,000 3,000,000 4,000,000 8,000,000 58,000,000 0   2,000,000 1,298,000,000 0 198,000,000 106,000,000 1,140,000,000 0 3,006,000,000 5,000,000 853,000,000 2,000,000 1,000,000 1,000,000 1,000,000   6,000,000 1,000,000 15,000,000 2,000,000 1,000,000 2,000,000   4,000,000 1,000,000   134,000,000 12,000,000 3,000,000 1,000,000 3,000,000 1,000,000 1,000,000 24,000,000 592,000,000 248,000,000 
      accretion on discounted liabilities
    		12,000,000 10,000,000 12,000,000 13,000,000 8,000,000 10,000,000 9,000,000 10,000,000 6,000,000 7,000,000 6,000,000 6,000,000 5,000,000 6,000,000 6,000,000 6,000,000 6,000,000 6,000,000 6,000,000 5,000,000 6,000,000 5,000,000 6,000,000 6,000,000 6,000,000 5,000,000 6,000,000 6,000,000 5,000,000 6,000,000 6,000,000 6,000,000 5,000,000 6,000,000 5,000,000 6,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 6,000,000 5,000,000 6,000,000 6,000,000 6,000,000 6,000,000 6,000,000 6,000,000 6,000,000 6,000,000 7,000,000 7,000,000 
      deferred income taxes
    		14,000,000 -48,000,000 -133,000,000 -164,000,000 113,000,000 -145,000,000 -55,000,000 167,000,000 408,000,000 119,000,000 146,000,000 174,000,000 856,000,000 148,000,000 142,000,000 18,000,000 -453,000,000 266,000,000 -103,000,000 124,000,000 23,000,000   68,000,000 -138,000,000 74,000,000 179,000,000 23,000,000 100,000,000 28,000,000 101,000,000                       
      undistributed equity earnings
    		-55,000,000 75,000,000 120,000,000 108,000,000 -160,000,000 -179,000,000 -180,000,000 -55,000,000 -201,000,000 -324,000,000 -242,000,000 -323,000,000 -495,000,000 -390,000,000 -100,000,000 -50,000,000 -77,000,000 -218,000,000 217,000,000 80,000,000 -44,000,000      95,000,000 110,000,000   119,000,000         168,000,000 -308,000,000   -163,000,000 -19,000,000 -253,000,000 632,000,000    77,000,000  -367,000,000 
      gain on early redemption of debt
    		   0                                                  
      net gain on dispositions
    		-11,000,000 93,000,000 -1,087,000,000 -82,000,000 -2,000,000   9,000,000 -102,000,000 12,000,000 -34,000,000 -5,000,000 -1,000,000 0 -1,000,000 -2,000,000 -3,000,000   -21,000,000 -1,000,000                                1,000,000 
      unrealized investment loss
    		-4,000,000    1,000,000    8,000,000 15,000,000 11,000,000   221,000,000 169,000,000                                       
      other
    		20,000,000 58,000,000 -6,000,000 147,000,000 617,000,000 -17,000,000 11,000,000 36,000,000 -354,000,000 -115,000,000 14,000,000 202,000,000 -105,000,000 80,000,000 40,000,000 -340,000,000 31,000,000 120,000,000 138,000,000 78,000,000 45,000,000 -8,000,000 15,000,000 -8,000,000 0 -18,000,000 42,000,000 14,000,000 -79,000,000 24,000,000 173,000,000   92,000,000 6,000,000 -2,000,000 -110,000,000 65,000,000 51,000,000 47,000,000 -24,000,000 4,000,000 90,000,000 168,000,000 1,000,000 56,000,000 13,000,000 161,000,000 33,000,000   -12,000,000 95,000,000 
      working capital adjustments
    		                                                     
      accounts and notes receivable
    		801,000,000 -1,744,000,000 901,000,000 -788,000,000 427,000,000 736,000,000 199,000,000 329,000,000 -2,573,000,000 -115,000,000 1,663,000,000 2,357,000,000 1,204,000,000 -2,592,000,000 -3,042,000,000 543,000,000 53,000,000 222,000,000 -1,740,000,000 -661,000,000 -1,130,000,000 -86,000,000 3,900,000,000                               
      inventories
    		-823,000,000 -393,000,000 -1,214,000,000 2,023,000,000 499,000,000 -245,000,000 -2,555,000,000 2,017,000,000 677,000,000 -936,000,000 -2,003,000,000 1,044,000,000 295,000,000 -113,000,000 -1,152,000,000 1,006,000,000 326,000,000 -444,000,000 -377,000,000 1,063,000,000 282,000,000                                 
      prepaid expenses and other current assets
    		-108,000,000 -172,000,000 -254,000,000 102,000,000 -131,000,000 252,000,000 -179,000,000 107,000,000 -210,000,000 -97,000,000 469,000,000 213,000,000 568,000,000 -181,000,000 -849,000,000 30,000,000 44,000,000 -130,000,000 -283,000,000 132,000,000 86,000,000                                 
      accounts payable
    		-669,000,000 691,000,000 384,000,000 -593,000,000 -1,456,000,000 -120,000,000 1,678,000,000 -1,824,000,000 2,267,000,000 -184,000,000 -739,000,000 -920,000,000 -2,629,000,000 476,000,000 4,809,000,000 -798,000,000 241,000,000 703,000,000 2,779,000,000 98,000,000 136,000,000   163,000,000 410,000,000 -1,098,000,000 2,466,000,000                           
      taxes and other accruals
    		57,000,000 543,000,000 111,000,000 -447,000,000 280,000,000 293,000,000 -590,000,000 -422,000,000 125,000,000 287,000,000 -653,000,000 -585,000,000 461,000,000 585,000,000 119,000,000 -369,000,000 112,000,000 482,000,000 -281,000,000 -229,000,000 322,000,000 -106,000,000 530,000,000                               
      net cash from operating activities
    		1,178,000,000 845,000,000 187,000,000 1,198,000,000 1,132,000,000 2,097,000,000 -236,000,000 2,190,000,000 2,685,000,000 955,000,000 1,199,000,000 4,750,000,000 3,144,000,000 1,783,000,000 1,136,000,000 1,800,000,000 2,203,000,000 1,743,000,000 271,000,000 639,000,000 491,000,000 764,000,000 217,000,000 1,694,000,000 1,662,000,000   4,139,000,000 582,000,000 2,364,000,000 488,000,000 1,931,000,000 401,000,000   667,000,000 883,000,000 1,155,000,000 258,000,000 1,497,000,000 1,437,000,000 1,427,000,000 1,352,000,000 872,000,000 429,000,000 830,000,000 1,398,000,000 897,000,000 1,949,000,000 968,000,000 2,213,000,000 1,305,000,000 1,918,000,000 
      cash flows from investing activities
    		                                                     
      capital expenditures and investments
    		-541,000,000 -587,000,000 -423,000,000 -506,000,000 -358,000,000 -367,000,000 -628,000,000 -634,000,000 -855,000,000 -551,000,000 -378,000,000 -713,000,000 -735,000,000 -376,000,000 -370,000,000 -597,000,000 -552,000,000 -380,000,000 -331,000,000 -506,000,000 -552,000,000                                -339,000,000 
      free cash flows
    		637,000,000 258,000,000 -236,000,000 692,000,000 774,000,000 1,730,000,000 -864,000,000 1,556,000,000 1,830,000,000 404,000,000 821,000,000 4,037,000,000 2,409,000,000 1,407,000,000 766,000,000 1,203,000,000 1,651,000,000 1,363,000,000 -60,000,000 133,000,000 -61,000,000                                1,579,000,000 
      acquisitions, net of cash acquired
    		10,000,000   -58,000,000                                                  
      purchases of government obligations
    		   0                                                  
      return of investments in equity affiliates
    		15,000,000 18,000,000 25,000,000 19,000,000 55,000,000 26,000,000 41,000,000 42,000,000 40,000,000 59,000,000 60,000,000 47,000,000 30,000,000 33,000,000 15,000,000 31,000,000 78,000,000 100,000,000 58,000,000 53,000,000 51,000,000 50,000,000 38,000,000                               
      proceeds from asset dispositions
    		0 -3,000,000 2,034,000,000 176,000,000 219,000,000 685,000,000 2,000,000 22,000,000 280,000,000 13,000,000 77,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 2,000,000   48,000,000 2,000,000 0 1,000,000                         26,000,000 1,119,000,000 60,000,000 9,000,000 27,000,000 19,000,000 
      advances/loans—related parties
    		0 0 -20,000,000         0 0   0 -65,000,000 -90,000,000 -155,000,000 -65,000,000 -20,000,000                                 
      collection of advances/loans—related parties
    		1,000,000       2,000,000    426,000,000 135,000,000   1,000,000    0 0   0 0       1,000,000 0 0 325,000,000 1,000,000    0 0       65,000,000 0 45,000,000 55,000,000   
      net cash from investing activities
    		-487,000,000 -2,734,000,000 1,591,000,000 -345,000,000 -1,780,000,000 327,000,000 -665,000,000 -608,000,000 -485,000,000 -432,000,000 -265,000,000 -232,000,000 -537,000,000 -291,000,000 -428,000,000 -557,000,000 -496,000,000 -352,000,000 -467,000,000 -513,000,000 -542,000,000              158,000,000                  -420,000,000 
      cash flows from financing activities
    		                                                     
      issuance of debt
    		2,450,000,000   1,135,000,000 1,518,000,000 -196,000,000 3,815,000,000 535,000,000 678,000,000 2,559,000,000 2,488,000,000     993,000,000 -15,000,000 15,000,000 450,000,000 1,873,000,000 75,000,000 2,031,000,000 1,199,000,000 25,000,000 898,000,000 135,000,000 725,000,000 590,000,000 85,000,000 0 1,509,000,000 425,000,000 480,000,000 1,891,000,000 712,000,000 1,690,000,000 250,000,000 100,000,000 50,000,000 0 0 0 1,169,000,000         0 0 
      repayment of debt
    		-1,612,000,000 -1,088,000,000 -1,287,000,000 -712,000,000 -408,000,000 -7,000,000 -3,013,000,000 -627,000,000 -1,166,000,000 -1,236,000,000 -1,223,000,000 -926,000,000 -476,000,000 -1,457,000,000 -24,000,000 -1,469,000,000 -506,000,000 -54,000,000 -925,000,000 -505,000,000 -5,000,000                                -8,000,000 
      issuance of common stock
    		68,000,000 2,000,000 23,000,000 4,000,000 18,000,000 14,000,000 50,000,000 20,000,000 91,000,000 2,000,000 10,000,000 36,000,000 0 44,000,000 23,000,000 2,000,000 0 4,000,000 20,000,000 2,000,000 0 0 6,000,000 17,000,000 6,000,000 1,000,000 8,000,000 0 9,000,000 20,000,000 10,000,000 12,000,000 17,000,000 2,000,000 4,000,000         0        24,000,000 21,000,000 
      repurchase of common stock
    		-267,000,000 -419,000,000 -247,000,000 -647,000,000 -800,000,000 -840,000,000 -1,164,000,000 -1,153,000,000 -752,000,000 -1,309,000,000 -800,000,000 -753,000,000 -694,000,000       0 0                                 
      dividends paid on common stock
    		-484,000,000 -487,000,000 -469,000,000 -472,000,000 -477,000,000 -485,000,000 -448,000,000 -457,000,000 -465,000,000 -474,000,000 -486,000,000 -456,000,000 -466,000,000 -467,000,000 -404,000,000 -403,000,000 -394,000,000 -394,000,000 -394,000,000 -393,000,000 -393,000,000                                 
      distributions to noncontrolling interests
    		-28,000,000 -81,000,000 -14,000,000 -24,000,000 -13,000,000 -20,000,000 -13,000,000 -23,000,000 -15,000,000 -67,000,000 -58,000,000 -81,000,000 -3,000,000 -24,000,000 -77,000,000 -85,000,000 -81,000,000 -82,000,000 -76,000,000 -88,000,000 -74,000,000                                 
      contributions from noncontrolling interests
    		18,000,000                                                     
      net cash from financing activities
    		112,000,000 1,526,000,000 -2,049,000,000 -724,000,000 -192,000,000 -1,543,000,000 -846,000,000 -1,825,000,000 -1,657,000,000 -4,493,000,000 -117,000,000 -2,242,000,000 -1,657,000,000 -1,977,000,000 -512,000,000 -978,000,000 -1,005,000,000 -542,000,000 -945,000,000 872,000,000 -404,000,000 1,047,000,000 276,000,000                             -1,381,000,000 -196,000,000 
      effect of exchange rate changes on cash and cash equivalents
    		3,000,000 18,000,000 22,000,000 -28,000,000 33,000,000 -7,000,000 -6,000,000 27,000,000 -33,000,000 34,000,000 15,000,000 113,000,000 -15,000,000 -41,000,000 -8,000,000 -15,000,000 -12,000,000 7,000,000 -22,000,000 54,000,000 27,000,000     -3,000,000 8,000,000         -1,000,000 3,000,000 -28,000,000 36,000,000 -6,000,000 -41,000,000       -60,000,000    -13,000,000 24,000,000 
      net change in cash and cash equivalents, including cash classified within assets held for sale
    		806,000,000                                                     
      cash and cash equivalents at beginning of period
    		0 0 1,738,000,000  0 0 3,323,000,000  0 0 6,133,000,000  0 0 3,147,000,000  0 0 2,514,000,000  0 0 1,614,000,000  0 0 3,019,000,000          0 0 3,074,000,000  0 0 5,207,000,000  0 0 5,400,000,000  0 0 3,474,000,000   
      cash and cash equivalents at end of period, including cash classified within assets held for sale
    		806,000,000                                                     
      reconciliation of cash and cash equivalents at end of period
    		                                                     
      cash and cash equivalents
    		793,000,000                                                     
      cash and cash equivalents included in assets held for sale
    		13,000,000                                                     
      loss on early redemption of debt
    		     0 2,000,000 0 0                                             
      unrealized investment (gain) loss
    		  10,000,000    -6,000,000     15,000,000                                          
      net change in cash and cash equivalents
    		  -249,000,000 101,000,000 -807,000,000 874,000,000 -1,753,000,000 -216,000,000 510,000,000 -3,936,000,000 832,000,000 2,389,000,000 935,000,000 -526,000,000 188,000,000 250,000,000 690,000,000 856,000,000 -1,163,000,000 1,052,000,000 -428,000,000                      183,000,000     -542,000,000 1,722,000,000 -533,000,000 1,279,000,000 -956,000,000 1,326,000,000 
      cash and cash equivalents at end of period
    		  1,489,000,000  -807,000,000 874,000,000 1,570,000,000  510,000,000 -3,936,000,000 6,965,000,000  935,000,000 -526,000,000 3,335,000,000  690,000,000 856,000,000 1,351,000,000  -428,000,000 669,000,000 1,221,000,000  449,000,000 566,000,000 1,253,000,000          105,000,000 509,000,000 1,723,000,000  -267,000,000 -301,000,000 5,390,000,000  -1,848,000,000 -370,000,000 5,326,000,000  1,722,000,000 -533,000,000 4,753,000,000  1,326,000,000 
      gain related to merger of businesses
    		           0                                          
      repurchase of noncontrolling interests
    		       -110,000,000 0       0 0                                     
      cash and cash equivalents at beginning of year
    		                                                     
      cash and cash equivalents at end of year
    		                                                     
      see notes to consolidated financial statements.
    		                                                     
      net proceeds from issuance of phillips 66 partners lp common and preferred units
    		                                                     
      unrealized investment gain
    		               -141,000,000                                      
      net proceeds from issuance of phillips 66 partners lp common units
    		                    0 0 2,000,000  91,000,000 10,000,000 32,000,000  47,000,000 58,000,000 9,000,000  0 131,000,000 40,000,000 0 303,000,000   0 0 0 384,000,000     0      
      gain on consolidation of business
    		                                                     
      proceeds from asset dispositions*
    		                       18,000,000 21,000,000 15,000,000 103,000,000 18,000,000 10,000,000 12,000,000 17,000,000 21,000,000 14,000,000 42,000,000 9,000,000 -3,000,000 144,000,000 10,000,000 5,000,000 2,000,000     6,000,000 150,000,000 507,000,000       
      restricted cash received from consolidation of business
    		                               0 0 0 318,000,000                   
      effect of exchange rate changes on cash, cash equivalents and restricted cash
    		                              1,000,000   17,000,000 2,000,000                   
      net change in cash, cash equivalents and restricted cash
    		                                                     
      cash, cash equivalents and restricted cash at beginning of year
    		                                                     
      cash, cash equivalents and restricted cash at end of year
    		                                                     
      * includes return of investments in equity affiliates.
    		                                                     
      consolidated statement of changes in equity
    		                                                     
      december 31, 2016
    		                                                     
      other comprehensive income
    		                                                     
      benefit plan activity
    		                                                     
      issuance of phillips 66 partners lp common and preferred units
    		                                                     
      december 31, 2017
    		                                                     
      cumulative effect of accounting changes
    		                                                     
      other comprehensive loss
    		                                                     
      issuance of phillips 66 partners lp common units
    		                                                     
      december 31, 2018
    		                                                     
      impacts from phillips 66 partners lp gp/idr restructuring transaction
    		                                                     
      december 31, 2019
    		                                                     
      decrease (increase) in accounts and notes receivable
    		                             -1,062,000,000 1,366,000,000   103,000,000 621,000,000    524,000,000 -29,000,000 1,240,000,000 -766,000,000 1,684,000,000 1,416,000,000   619,000,000 -54,000,000 124,000,000 126,000,000 285,000,000  -1,341,000,000 
      decrease (increase) in inventories
    		                                                   2,308,000,000 -207,000,000 
      decrease (increase) in prepaid expenses and other current assets
    		                                       159,000,000 105,000,000            -105,000,000 
      increase in accounts payable
    		                            -31,000,000   689,000,000    554,000,000 -487,000,000 1,414,000,000 98,000,000      -1,369,000,000 163,000,000 1,505,000,000 -1,658,000,000 385,000,000 -833,000,000 2,466,000,000  1,945,000,000 
      increase in taxes and other accruals
    		                            223,000,000   111,000,000    -112,000,000 178,000,000      101,000,000 -32,000,000 273,000,000 -461,000,000 698,000,000    167,000,000  -121,000,000 
      cash, cash equivalents and restricted cash at beginning of period
    		                            0 0 3,119,000,000  0 0 2,711,000,000                   
      cash, cash equivalents and restricted cash at end of period
    		                            -960,000,000 1,042,000,000 842,000,000  -614,000,000 525,000,000 1,636,000,000                   
      deferred taxes
    		                                27,000,000 264,000,000 493,000,000 145,000,000 276,000,000 37,000,000 154,000,000         313,000,000 120,000,000 80,000,000 81,000,000 110,000,000 -67,000,000 
      income from discontinued operations
    		                                                     
      net cash from continuing operating activities
    		                                       1,497,000,000 1,437,000,000 1,427,000,000 1,352,000,000 872,000,000 429,000,000 830,000,000 1,396,000,000       
      net cash from discontinued operations
    		                                           0 0 0 2,000,000       
      net cash from continuing investing activities
    		                                                     
      share exchange—pspi transaction
    		                                                     
      net cash from continuing financing activities
    		                                                     
      * includes return of investments in equity affiliates and working capital true-ups on dispositions.
    		                                                     
      distributions to conocophillips
    		                                                    0 
      prior period amounts have been recast to reflect discontinued operations.
    		                                                     
      contributions from conocophillips
    		                                                     
      change in restricted cash
    		                                                     
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.