Phillips 66(NYSE:PSX) 
Phillips 66 operates as an energy manufacturing and logistics company. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides term...
Website: http://www.phillips66.com
Founded: 2012
Full Time Employees: 14,500
CEO: Mark Lashier
Sector: Energy
Industry: Oil & Gas Refining & Marketing
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At a glance:
- Earnings Leverage to Refining Margins and Crack Spreads: Phillips 66’s near-term results are highly sensitive to refining margins (crack spreads) and utilization rates across its refining system, which can drive meaningful quarter-to-quarter earnings volatility.
- Midstream and Chemicals Provide Diversification: The Midstream segment and the CPChem chemicals joint venture can help offset refining cyclicality, supporting more stable cash generation when refining conditions soften.
- Capital Returns Remain a Core Part of the Story: Phillips 66 has historically emphasized returning capital through dividends and share repurchases, with the pace of buybacks typically tied to margin conditions, cash flow, and balance sheet targets.
- Turnarounds, Reliability, and Regulatory Costs Are Key Watch Items: Planned maintenance/turnarounds, unplanned downtime, and compliance costs (including renewable fuel and environmental regulations) can materially impact profitability and free cash flow in any given period.
- Strategic Portfolio Actions Can Shift Mix and Valuation: Asset sales, logistics expansions, and optimization projects can reshape the company’s earnings mix toward fee-based or higher-return businesses, influencing long-term growth and valuation multiples.
Bull Thesis:
- Sustained Strong Refining Margins: Global energy demand, coupled with constrained refining capacity and geopolitical factors, could maintain elevated crack spreads, leading to robust profitability for Phillips 66's largest segment.
- Resilient Midstream Segment Providing Stable Cash Flow: The company's diversified midstream assets (pipelines, terminals, NGL processing) generate predictable, fee-based revenues, offering a stable earnings base that helps mitigate the cyclicality of refining.
- Commitment to Shareholder Returns: Phillips 66 has a strong track record of returning capital to shareholders through consistent dividends and opportunistic share buybacks. Strong free cash flow generation could enable further increases in distributions and buyback programs.
- Growth and Diversification from CPChem Joint Venture: The 50/50 chemicals joint venture with Chevron (CPChem) provides diversification and growth opportunities, particularly with new projects coming online, contributing significantly to earnings during favorable petrochemical cycles.
Bear Thesis:
- High Cyclicality and Demand Risk in Refining: The refining business is highly susceptible to economic downturns, which can reduce fuel demand and compress crack spreads. Accelerated adoption of electric vehicles also poses a long-term threat to gasoline and diesel demand.
- Increasing Regulatory and Environmental Pressures: Stricter environmental regulations, carbon pricing mechanisms, and mandates for renewable fuels could significantly increase Phillips 66's operating costs, capital expenditures, and compliance burdens across its refining and marketing operations.
- Significant Capital Expenditure Requirements: Maintaining and upgrading its extensive refining and midstream infrastructure requires substantial ongoing capital expenditures. These costs can weigh on free cash flow, especially during periods of lower profitability or economic contraction.
- Geopolitical Instability and Supply Chain Volatility: Global geopolitical events, such as conflicts or trade disputes, can lead to extreme volatility in crude oil prices, disrupt supply chains, and impact demand, negatively affecting refining margins and operational stability.
Main Competitors:
- Valero Energy Corporation ($VLO) (Refined petroleum products, renewable fuels), Valero is the largest independent refiner in North America, directly competing with Phillips 66 in the production and marketing of gasoline, diesel, jet fuel, and other refined products. Both companies operate large, complex refineries and vie for market share in fuel sales to wholesalers and retailers across various regions.
- Marathon Petroleum Corporation ($MPC) (Refined petroleum products, midstream services (via MPLX)), Marathon Petroleum is another major independent refiner in the U.S., with a significant refining footprint that directly competes with Phillips 66. Additionally, its midstream subsidiary, MPLX, competes with Phillips 66's midstream segment for crude oil, natural gas, and NGL transportation, processing, and storage.
- Enterprise Products Partners L.P. ($EPD) (Midstream energy services (natural gas, NGLs, crude oil, petrochemicals)), Enterprise Products Partners is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services. It directly competes with Phillips 66's midstream segment in the transportation, processing, storage, and export of natural gas liquids (NGLs), crude oil, and natural gas.
- ExxonMobil Corporation ($XOM) (Integrated energy products (upstream, downstream, chemicals)), As one of the world's largest integrated energy companies, ExxonMobil competes with Phillips 66 across multiple downstream segments. This includes refining crude oil into fuels, manufacturing petrochemicals (via ExxonMobil Chemical), and marketing branded fuels and lubricants globally. While ExxonMobil has a large upstream component, its downstream scale is a direct competitive force.
Moat:
Phillips 66 operates in highly competitive and capital-intensive segments of the energy industry. Its competitive advantages (moat) stem from its strategic asset base, including large, complex refineries with high conversion capabilities, an integrated midstream network providing logistical efficiencies and supply chain control, and its strong joint venture in chemicals (CPChem) offering diversification. The company also benefits from established brand recognition (Phillips 66, Conoco, 76) in fuel marketing. However, competition is fierce from other independent refiners, integrated oil majors, and specialized midstream operators. The industry faces challenges from volatile commodity prices, stringent environmental regulations, and the long-term energy transition towards lower-carbon alternatives, requiring continuous investment in operational excellence and strategic adaptation.
Income Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 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 | 2012-06-30 | 2012-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
revenues and other income | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
sales and other operating revenues | 32,540,000,000 | 34,108,000,000 | 34,515,000,000 | 33,323,000,000 | 30,430,000,000 | 33,685,000,000 | 35,528,000,000 | 38,129,000,000 | 35,811,000,000 | 38,270,000,000 | 39,643,000,000 | 35,090,000,000 | 34,396,000,000 | 40,279,000,000 | 44,955,000,000 | 48,577,000,000 | 36,179,000,000 | 32,604,000,000 | 30,243,000,000 | 27,002,000,000 | 21,627,000,000 | 16,409,000,000 | 15,929,000,000 | 10,913,000,000 | 20,878,000,000 | 19,542,000,000 | 27,218,000,000 | 27,847,000,000 | 23,103,000,000 | ||||||||||||||||||||||||||||
equity in earnings of affiliates | 252,000,000 | 119,000,000 | 337,000,000 | 153,000,000 | 153,000,000 | 215,000,000 | 549,000,000 | 487,000,000 | 528,000,000 | 281,000,000 | 562,000,000 | 563,000,000 | 611,000,000 | 584,000,000 | 782,000,000 | 917,000,000 | 685,000,000 | 807,000,000 | 982,000,000 | 830,000,000 | 285,000,000 | 320,000,000 | 349,000,000 | 157,000,000 | 365,000,000 | 464,000,000 | 499,000,000 | 648,000,000 | 516,000,000 | 730,000,000 | 779,000,000 | 743,000,000 | 424,000,000 | 375,000,000 | 530,000,000 | 462,000,000 | 365,000,000 | 255,000,000 | 391,000,000 | 435,000,000 | 333,000,000 | 127,000,000 | 583,000,000 | 407,000,000 | 456,000,000 | 413,000,000 | 511,000,000 | 764,000,000 | 778,000,000 | 769,000,000 | 647,000,000 | 618,000,000 | 1,039,000,000 | 626,000,000 | 959,000,000 | 815,000,000 | 734,000,000 |
net gain on dispositions | 6,000,000 | 1,979,000,000 | 11,000,000 | -93,000,000 | 1,087,000,000 | 82,000,000 | 2,000,000 | 237,000,000 | -9,000,000 | 102,000,000 | -12,000,000 | 34,000,000 | 5,000,000 | 1,000,000 | 1,000,000 | 7,000,000 | 9,000,000 | 2,000,000 | 21,000,000 | 1,000,000 | 85,000,000 | 1,000,000 | 1,000,000 | 18,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 17,000,000 | 14,000,000 | 1,000,000 | 1,000,000 | 3,000,000 | 6,000,000 | 22,000,000 | 139,000,000 | 122,000,000 | 170,000,000 | 109,000,000 | 9,000,000 | 7,000,000 | 5,000,000 | 8,000,000 | 41,000,000 | 1,000,000 | 4,000,000 | -1,000,000 | 188,000,000 | 2,000,000 | |||||||||
other income | 204,000,000 | 127,000,000 | 116,000,000 | 139,000,000 | 56,000,000 | 4,000,000 | 84,000,000 | 58,000,000 | 97,000,000 | 197,000,000 | 15,000,000 | 99,000,000 | 48,000,000 | 39,000,000 | 3,026,000,000 | -185,000,000 | -143,000,000 | 150,000,000 | 238,000,000 | 51,000,000 | 15,000,000 | 18,000,000 | 20,000,000 | 28,000,000 | 22,000,000 | 36,000,000 | 23,000,000 | 38,000,000 | 14,000,000 | 24,000,000 | 13,000,000 | 10,000,000 | 2,000,000 | 49,000,000 | 18,000,000 | 452,000,000 | 15,000,000 | 24,000,000 | 17,000,000 | 18,000,000 | 9,000,000 | 20,000,000 | 19,000,000 | 70,000,000 | 61,000,000 | 11,000,000 | 17,000,000 | 31,000,000 | 20,000,000 | 49,000,000 | 23,000,000 | 53,000,000 | 4,000,000 | 77,000,000 | 1,000,000 | ||
total revenues and other income | 33,002,000,000 | 36,333,000,000 | 34,979,000,000 | 33,522,000,000 | 31,726,000,000 | 33,986,000,000 | 36,163,000,000 | 38,911,000,000 | 36,436,000,000 | 38,739,000,000 | 40,322,000,000 | 35,740,000,000 | 35,089,000,000 | 40,907,000,000 | 48,764,000,000 | 49,309,000,000 | 36,722,000,000 | 33,568,000,000 | 31,472,000,000 | 27,885,000,000 | 21,927,000,000 | 16,768,000,000 | 16,299,000,000 | 11,183,000,000 | 21,244,000,000 | 29,612,000,000 | 27,771,000,000 | 28,518,000,000 | 23,658,000,000 | 29,843,000,000 | 30,592,000,000 | 29,736,000,000 | 24,046,000,000 | 30,123,000,000 | 26,206,000,000 | 24,581,000,000 | 23,712,000,000 | 23,668,000,000 | 22,042,000,000 | 22,307,000,000 | 17,760,000,000 | 22,029,000,000 | 26,417,000,000 | 29,077,000,000 | 23,426,000,000 | 35,607,000,000 | 41,048,000,000 | 46,339,000,000 | 41,099,000,000 | 43,686,000,000 | 44,849,000,000 | 43,948,000,000 | 42,326,000,000 | 44,668,000,000 | 43,907,000,000 | 47,827,000,000 | 46,520,000,000 |
yoy | 4.02% | 6.91% | -3.27% | -13.85% | -12.93% | -12.27% | -10.31% | 8.87% | 3.84% | -5.30% | -17.31% | -27.52% | -4.45% | 21.86% | 54.94% | 76.83% | 67.47% | 100.19% | 93.09% | 149.35% | 3.22% | -43.37% | -41.31% | -60.79% | -10.20% | -0.77% | -9.22% | -4.10% | -1.61% | -0.93% | 16.74% | 20.97% | 1.41% | 27.27% | 18.89% | 10.19% | 33.51% | 7.44% | -16.56% | -23.28% | -24.19% | -38.13% | -35.64% | -37.25% | -43.00% | -18.49% | -8.48% | 5.44% | -2.90% | -2.20% | 2.15% | -8.11% | -9.02% | ||||
qoq | -9.17% | 3.87% | 4.35% | 5.66% | -6.65% | -6.02% | -7.06% | 6.79% | -5.94% | -3.93% | 12.82% | 1.86% | -14.22% | -16.11% | -1.11% | 34.28% | 9.40% | 6.66% | 12.86% | 27.17% | 30.77% | 2.88% | 45.75% | -47.36% | -28.26% | 6.63% | -2.62% | 20.54% | -20.73% | -2.45% | 2.88% | 23.66% | -20.17% | 14.95% | 6.61% | 3.66% | 0.19% | 7.38% | -1.19% | 25.60% | -19.38% | -16.61% | -9.15% | 24.12% | -34.21% | -13.26% | -11.42% | 12.75% | -5.92% | -2.59% | 2.05% | 3.83% | -5.24% | 1.73% | -8.20% | 2.81% | |
costs and expenses | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
purchased crude oil and products | 29,216,000,000 | 29,137,000,000 | 30,219,000,000 | 29,077,000,000 | 27,660,000,000 | 30,754,000,000 | 32,194,000,000 | 34,628,000,000 | 32,386,000,000 | 33,844,000,000 | 34,330,000,000 | 30,571,000,000 | 29,341,000,000 | 35,146,000,000 | 38,646,000,000 | 42,645,000,000 | 33,495,000,000 | 29,290,000,000 | 27,529,000,000 | 25,218,000,000 | 20,065,000,000 | 15,150,000,000 | 14,509,000,000 | 9,608,000,000 | 18,440,000,000 | 26,114,000,000 | 23,806,000,000 | 24,554,000,000 | 21,055,000,000 | 24,660,000,000 | 26,385,000,000 | 25,747,000,000 | 21,138,000,000 | 23,914,000,000 | 19,463,000,000 | 18,353,000,000 | 17,679,000,000 | 18,379,000,000 | 15,961,000,000 | 16,198,000,000 | 11,930,000,000 | 15,871,000,000 | 18,580,000,000 | 22,253,000,000 | 16,695,000,000 | 28,449,000,000 | 33,602,000,000 | 39,316,000,000 | 34,381,000,000 | 36,958,000,000 | 38,746,000,000 | 37,277,000,000 | 35,264,000,000 | 37,568,000,000 | 36,189,000,000 | 40,398,000,000 | 40,328,000,000 |
operating expenses | 1,881,000,000 | 1,869,000,000 | 1,492,000,000 | 1,440,000,000 | 1,622,000,000 | 1,581,000,000 | 1,499,000,000 | 1,407,000,000 | 1,452,000,000 | 1,559,000,000 | 1,633,000,000 | 1,384,000,000 | 1,578,000,000 | 1,728,000,000 | 1,612,000,000 | 1,431,000,000 | 1,340,000,000 | 1,426,000,000 | 1,166,000,000 | 1,175,000,000 | 1,380,000,000 | 1,180,000,000 | 1,016,000,000 | 1,026,000,000 | 1,341,000,000 | 1,396,000,000 | 1,206,000,000 | 1,165,000,000 | 1,307,000,000 | 1,285,000,000 | 1,206,000,000 | 1,143,000,000 | 1,246,000,000 | 1,158,000,000 | 1,134,000,000 | 1,137,000,000 | 1,270,000,000 | 1,197,000,000 | 1,061,000,000 | 994,000,000 | 1,023,000,000 | 1,074,000,000 | 1,083,000,000 | 1,043,000,000 | 1,094,000,000 | 1,164,000,000 | 1,104,000,000 | 1,077,000,000 | 1,090,000,000 | 1,208,000,000 | 987,000,000 | 1,033,000,000 | 978,000,000 | 1,072,000,000 | 884,000,000 | 984,000,000 | 1,092,000,000 |
selling, general and administrative expenses | 537,000,000 | 544,000,000 | 792,000,000 | 582,000,000 | 519,000,000 | 511,000,000 | 1,194,000,000 | 552,000,000 | 557,000,000 | 658,000,000 | 669,000,000 | 593,000,000 | 605,000,000 | 630,000,000 | 617,000,000 | 488,000,000 | 433,000,000 | 479,000,000 | 424,000,000 | 433,000,000 | 408,000,000 | 432,000,000 | 384,000,000 | 409,000,000 | 319,000,000 | 491,000,000 | 416,000,000 | 408,000,000 | 366,000,000 | 419,000,000 | 440,000,000 | 432,000,000 | 386,000,000 | 437,000,000 | 435,000,000 | 439,000,000 | 384,000,000 | 420,000,000 | 411,000,000 | 421,000,000 | 386,000,000 | 433,000,000 | 437,000,000 | 406,000,000 | 394,000,000 | 448,000,000 | 401,000,000 | 412,000,000 | 402,000,000 | 418,000,000 | 354,000,000 | 374,000,000 | 332,000,000 | 461,000,000 | 432,000,000 | 480,000,000 | 349,000,000 |
depreciation and amortization | 558,000,000 | 818,000,000 | 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 | 224,000,000 | 216,000,000 |
impairments | 8,000,000 | 79,000,000 | 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 | 2,000,000 | 2,000,000 | 1,298,000,000 | 198,000,000 | 106,000,000 | 1,140,000,000 | 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 | 6,000,000 | 1,000,000 | 15,000,000 | 2,000,000 | 1,000,000 | 2,000,000 | 2,000,000 | 4,000,000 | 1,000,000 | 2,000,000 | 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 | 275,000,000 | 43,000,000 | |||||||
taxes other than income taxes | 234,000,000 | 119,000,000 | 221,000,000 | 218,000,000 | 233,000,000 | 62,000,000 | 53,000,000 | 49,000,000 | 165,000,000 | 155,000,000 | 171,000,000 | 174,000,000 | 207,000,000 | 130,000,000 | 133,000,000 | 118,000,000 | 149,000,000 | 67,000,000 | 85,000,000 | 119,000,000 | 139,000,000 | 87,000,000 | 106,000,000 | 114,000,000 | 157,000,000 | 82,500,000 | 105,000,000 | 97,000,000 | 128,000,000 | ||||||||||||||||||||||||||||
accretion on discounted liabilities | 12,000,000 | 13,000,000 | 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 | 6,000,000 | 5,000,000 |
interest and debt expense | 286,000,000 | 295,000,000 | 259,000,000 | 264,000,000 | 221,000,000 | 220,000,000 | 229,000,000 | 231,000,000 | 227,000,000 | 218,000,000 | 221,000,000 | 266,000,000 | 192,000,000 | 193,000,000 | 158,000,000 | 133,000,000 | 135,000,000 | 141,000,000 | 151,000,000 | 143,000,000 | 146,000,000 | 139,000,000 | 132,000,000 | 117,000,000 | 111,000,000 | 115,000,000 | 109,000,000 | 115,000,000 | 119,000,000 | 121,000,000 | 125,000,000 | 135,000,000 | 123,000,000 | 114,000,000 | 112,000,000 | 107,000,000 | 105,000,000 | 88,000,000 | 81,000,000 | 83,000,000 | 86,000,000 | 74,000,000 | 71,000,000 | 79,000,000 | 86,000,000 | 73,000,000 | 60,000,000 | 66,000,000 | 68,000,000 | 68,000,000 | 68,000,000 | 69,000,000 | 70,000,000 | 76,000,000 | 74,000,000 | 83,000,000 | 13,000,000 |
foreign currency transaction losses | 10,000,000 | 6,000,000 | 8,000,000 | -9,000,000 | -6,000,000 | 2,000,000 | 1,000,000 | 1,000,000 | 7,000,000 | 7,000,000 | -12,000,000 | 2,000,000 | 25,000,000 | -33,000,000 | 5,000,000 | 21,000,000 | -9,000,000 | 6,000,000 | 12,500,000 | 1,000,000 | 49,000,000 | 5,750,000 | 13,000,000 | ||||||||||||||||||||||||||||||||||
total costs and expenses | 32,742,000,000 | 32,880,000,000 | 34,780,000,000 | 32,402,000,000 | 31,078,000,000 | 33,999,000,000 | 35,750,000,000 | 37,600,000,000 | 35,472,000,000 | 36,978,000,000 | 37,509,000,000 | 33,496,000,000 | 32,438,000,000 | 38,360,000,000 | 41,606,000,000 | 45,203,000,000 | 35,894,000,000 | 31,941,000,000 | 31,024,000,000 | 27,449,000,000 | 22,698,000,000 | 17,459,000,000 | 17,649,000,000 | 11,628,000,000 | 23,722,000,000 | 28,546,000,000 | 26,828,000,000 | 26,689,000,000 | 23,318,000,000 | 26,925,000,000 | 28,617,000,000 | 27,901,000,000 | 23,329,000,000 | 29,469,000,000 | 24,950,000,000 | 23,733,000,000 | 22,915,000,000 | 23,606,000,000 | 21,229,000,000 | 21,587,000,000 | 17,164,000,000 | 21,197,000,000 | 24,058,000,000 | 27,612,000,000 | 22,038,000,000 | 34,246,000,000 | 39,321,000,000 | 44,980,000,000 | 39,801,000,000 | 42,541,000,000 | 44,023,000,000 | 42,474,000,000 | 40,245,000,000 | 43,449,000,000 | 41,458,000,000 | 45,933,000,000 | 45,451,000,000 |
income before income taxes | 260,000,000 | 3,453,000,000 | 199,000,000 | 1,120,000,000 | 648,000,000 | -13,000,000 | 413,000,000 | 1,311,000,000 | 964,000,000 | 1,761,000,000 | 2,813,000,000 | 2,244,000,000 | 2,651,000,000 | 2,547,000,000 | 7,158,000,000 | 4,106,000,000 | 828,000,000 | 1,627,000,000 | 448,000,000 | 436,000,000 | -771,000,000 | -691,000,000 | -1,350,000,000 | -445,000,000 | 1,066,000,000 | 943,000,000 | 1,829,000,000 | 340,000,000 | 2,918,000,000 | 1,975,000,000 | 1,835,000,000 | 717,000,000 | 654,000,000 | 1,256,000,000 | 848,000,000 | 797,000,000 | 532,250,000 | 813,000,000 | 720,000,000 | 596,000,000 | 1,095,250,000 | 826,000,000 | 1,474,000,000 | 2,081,000,000 | 1,219,000,000 | 2,449,000,000 | 1,894,000,000 | 1,069,000,000 | |||||||||
income tax expense | 41,000,000 | 526,000,000 | 32,000,000 | 212,000,000 | 122,000,000 | -38,000,000 | 44,000,000 | 291,000,000 | 203,000,000 | 476,000,000 | 670,000,000 | 510,000,000 | 574,000,000 | 535,000,000 | 1,618,000,000 | 924,000,000 | 171,000,000 | 62,000,000 | 136,250,000 | 150,000,000 | 325,000,000 | 70,000,000 | 242,500,000 | 407,000,000 | 431,000,000 | 132,000,000 | |||||||||||||||||||||||||||||||
net income | 219,000,000 | 2,927,000,000 | 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 | 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 | 1,182,000,000 | 638,000,000 | |
yoy | -58.37% | 11608.00% | -54.74% | -10.98% | -30.88% | -98.05% | -82.78% | -41.18% | -63.36% | -36.13% | -61.32% | -45.51% | 216.13% | 46.75% | 1035.25% | 750.80% | -202.82% | -377.53% | -167.22% | -658.21% | -160.99% | -191.55% | -104.45% | -65.03% | -49.43% | 7.12% | -53.85% | -28.85% | 84.69% | 141.65% | 3.91% | 1577.84% | 58.40% | 12.60% | 41.46% | -70.87% | -66.33% | -49.66% | -60.08% | -42.49% | 33.89% | 17.55% | -36.82% | 39.02% | 120.19% | -9.17% | 11.91% | 17.32% | -66.27% | -18.78% | 121.00% | ||||||
qoq | -92.52% | 1652.69% | -81.61% | 72.62% | 2004.00% | -93.22% | -63.82% | 34.03% | -40.78% | -40.04% | 23.59% | -16.51% | 3.23% | -63.68% | 74.10% | 384.32% | -52.08% | 180.94% | 30.48% | -158.53% | 29.35% | -31.96% | 983.58% | 2.14% | -47.27% | 457.04% | -88.34% | 47.70% | 11.68% | 140.00% | -82.03% | 283.39% | 46.13% | 3.20% | 190.21% | -63.81% | 3.88% | 29.65% | -40.24% | -58.17% | 55.32% | 2.81% | -13.90% | -2.61% | 36.35% | -44.74% | 89.44% | 54.26% | -43.75% | -31.91% | 98.59% | -55.65% | 35.45% | 85.27% | |||
net income margin % | 0.66% | 8.06% | 0.48% | 2.71% | 1.66% | 0.07% | 1.02% | 2.62% | 2.09% | 3.32% | 5.31% | 4.85% | 5.92% | 4.92% | 11.36% | 6.45% | 1.79% | 4.08% | 1.55% | 1.34% | -2.91% | -2.95% | -4.45% | -0.60% | 0% | 2.74% | 2.86% | 5.27% | 1.14% | 7.76% | 5.13% | 4.72% | 2.43% | 10.81% | 3.24% | 2.36% | 2.37% | 0.82% | 2.43% | 2.31% | 2.24% | 3.02% | 6.03% | 3.53% | 4.26% | 3.25% | 2.90% | 1.88% | 3.84% | 1.91% | 1.20% | 2.18% | 3.33% | 1.59% | 3.65% | 2.47% | 1.37% |
less: net income attributable to noncontrolling interests | 12,000,000 | 21,000,000 | 34,000,000 | 31,000,000 | 39,000,000 | 17,000,000 | 23,000,000 | 5,000,000 | 13,000,000 | 25,000,000 | 46,000,000 | 37,000,000 | 116,000,000 | 128,000,000 | 149,000,000 | 15,000,000 | 75,000,000 | 98,000,000 | 86,000,000 | 78,000,000 | 15,000,000 | 45,000,000 | 73,000,000 | 74,000,000 | 69,000,000 | 74,000,000 | 81,000,000 | 80,000,000 | 66,000,000 | 76,000,000 | 76,000,000 | 65,000,000 | 61,000,000 | 57,000,000 | 26,000,000 | 31,000,000 | 28,000,000 | 31,000,000 | 25,000,000 | 20,000,000 | 13,000,000 | 16,000,000 | 14,000,000 | 13,000,000 | 10,000,000 | 11,000,000 | 9,000,000 | 9,000,000 | 6,000,000 | 7,000,000 | 5,000,000 | 2,000,000 | 3,000,000 | 2,000,000 | 2,000,000 | 1,000,000 | 2,000,000 |
net income attributable to phillips 66 | 207,000,000 | 2,906,000,000 | 133,000,000 | 877,000,000 | 487,000,000 | 8,000,000 | 346,000,000 | 1,015,000,000 | 748,000,000 | 1,260,000,000 | 2,097,000,000 | 1,697,000,000 | 1,961,000,000 | 1,884,000,000 | 5,391,000,000 | 3,167,000,000 | 582,000,000 | 1,273,000,000 | 402,000,000 | 296,000,000 | -539,000,000 | -799,000,000 | -141,000,000 | -2,496,000,000 | 736,000,000 | 712,000,000 | 1,424,000,000 | 204,000,000 | 2,240,000,000 | 1,492,000,000 | 1,339,000,000 | 524,000,000 | 3,198,000,000 | 823,000,000 | 550,000,000 | 535,000,000 | 163,000,000 | 511,000,000 | 496,000,000 | 385,000,000 | 650,000,000 | 1,578,000,000 | 1,012,000,000 | 987,000,000 | 1,147,000,000 | 1,180,000,000 | 863,000,000 | 1,572,000,000 | 826,000,000 | 535,000,000 | 958,000,000 | 1,407,000,000 | 708,000,000 | 1,599,000,000 | 1,181,000,000 | 636,000,000 | |
net income attributable to phillips 66 per share of common stock | 1.22 | 2.92 | 1.85 | 1.8 | 2.06 | 2.11 | 1.52 | 2.69 | |||||||||||||||||||||||||||||||||||||||||||||||||
basic | 0.51 | 7.15 | 0.32 | 2.15 | 1.19 | 0.04 | 0.82 | 2.39 | 1.74 | 2.91 | 4.72 | 3.73 | 4.21 | 3.99 | 11.19 | 6.55 | 1.29 | 2.89 | 0.91 | 0.66 | -1.23 | -1.82 | -0.33 | -5.66 | 1.65 | 1.58 | 3.13 | 0.44 | 4.8 | 3.2 | 2.86 | 1.07 | 6.22 | 1.6 | 1.06 | 1.02 | 0.655 | 0.97 | 0.94 | 0.72 | 1.173 | 0.88 | 1.55 | 2.25 | 1.12 | 2.53 | 1.88 | ||||||||||
diluted | 0.51 | 7.13 | 0.32 | 2.15 | 1.18 | 0.05 | 0.82 | 2.38 | 1.73 | 2.89 | 4.69 | 3.72 | 4.2 | 3.96 | 11.16 | 6.53 | 1.29 | 2.89 | 0.91 | 0.66 | -1.23 | -1.82 | -0.33 | 1.64 | 1.58 | 3.12 | 0.44 | 4.77 | 3.18 | 2.84 | 1.07 | 6.19 | 1.6 | 1.06 | 1.02 | 0.653 | 0.96 | 0.93 | 0.72 | 1.163 | 0.87 | 1.53 | 2.23 | 1.11 | 2.51 | 1.86 | |||||||||||
weighted-average common shares outstanding | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
basic | 402,036 | 406,008 | 404,508 | 406,763 | 409,182 | 420,174 | 417,305 | 422,869 | 428,959 | 450,136 | 444,283 | 454,450 | 464,810 | 471,497 | 481,388 | 483,088 | 449,298 | 440,028 | 440,193 | 439,940 | 439,504 | 439,530 | 438,916 | 438,756 | 441,345 | 451,364 | 449,005 | 453,681 | 457,599 | 470,708 | 466,109 | 468,331 | 487,065 | 515,090 | 512,923 | ||||||||||||||||||||||
diluted | 403,273 | 408,053 | 405,549 | 407,929 | 410,505 | 421,888 | 418,803 | 425,734 | 431,906 | 453,210 | 447,258 | 456,168 | 467,034 | 473,731 | 483,036 | 485,035 | 450,011 | 440,364 | 440,368 | 440,396 | 439,504 | 439,530 | 438,916 | 438,756 | 441,345 | 453,888 | 451,001 | 455,585 | 459,289 | 474,047 | 469,440 | 471,638 | 489,668 | 518,508 | 515,960 | ||||||||||||||||||||||
see notes to consolidated financial statements. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
foreign currency transaction gains | -2,000,000 | -15,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
foreign currency transaction (gains) losses | -1,250,000 | 4,000,000 | 2,000,000 | 4,000,000 | 9,000,000 | 5,000,000 | 1,500,000 | 7,000,000 | 29,000,000 | 1,000,000 | 2,000,000 | -5,500,000 | -15,000,000 | 8,000,000 | |||||||||||||||||||||||||||||||||||||||||||
income tax benefit | 256,000,000 | -40,000,000 | -132,000,000 | -197,000,000 | -624,000,000 | -378,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
net loss attributable to phillips 66 | -654,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net loss attributable to phillips 66 per share of common stock | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
basic | -1.49 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
diluted | -1.49 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
sales and other operating revenues* | 29,098,000,000 | 29,788,000,000 | 28,980,000,000 | 23,595,000,000 | 29,746,000,000 | 25,627,000,000 | 24,087,000,000 | 22,894,000,000 | 23,397,000,000 | 21,624,000,000 | 21,849,000,000 | 17,409,000,000 | 21,893,000,000 | 25,792,000,000 | 28,512,000,000 | 22,778,000,000 | 34,963,000,000 | 40,417,000,000 | 45,549,000,000 | 40,283,000,000 | 42,892,000,000 | 44,201,000,000 | 43,240,000,000 | 41,263,000,000 | 43,985,000,000 | 42,945,000,000 | 46,747,000,000 | 45,783,000,000 | |||||||||||||||||||||||||||||
taxes other than income taxes* | 97,000,000 | 109,000,000 | 109,000,000 | 110,000,000 | 3,494,000,000 | 3,456,000,000 | 3,356,000,000 | 3,156,000,000 | 3,209,000,000 | 3,424,000,000 | 3,594,000,000 | 3,461,000,000 | 3,456,000,000 | 3,610,000,000 | 3,549,000,000 | 3,462,000,000 | 3,696,000,000 | 3,874,000,000 | 3,832,000,000 | 3,638,000,000 | 3,669,000,000 | 3,624,000,000 | 3,502,000,000 | 3,324,000,000 | 3,436,000,000 | 3,410,000,000 | 3,475,000,000 | 3,420,000,000 | |||||||||||||||||||||||||||||
dividends paid per share of common stock | 0.575 | 0.8 | 0.8 | 0.7 | 0.7 | 0.7 | 0.7 | 0.63 | 0.63 | 0.63 | 0.63 | 0.56 | 0.56 | 0.56 | 0.56 | 0.5 | 0.5 | 0.5 | 0.5 | 0.39 | 0.39 | 0.313 | 0.313 | 0.313 | 0.25 | 0.2 | |||||||||||||||||||||||||||||||
* includes excise taxes on sales of petroleum products for periods prior to the adoption of accounting standards update no. 2014-09 on january 1, 2018: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
benefit from income taxes | 227,000,000 | 407,000,000 | 169,750,000 | 277,000,000 | 204,000,000 | 198,000,000 | 166,000,000 | 767,000,000 | 440,000,000 | 391,000,000 | 203,000,000 | 538,000,000 | 487,000,000 | 426,000,000 | 373,000,000 | 286,000,000 | 514,000,000 | 671,000,000 | 509,000,000 | 848,000,000 | 712,000,000 | 431,000,000 | |||||||||||||||||||||||||||||||||||
* includes excise taxes on petroleum products sales: | 2,416 | 3,376 | 3,252 | 3,036 | 2,556.25 | 3,357 | 3,508 | 3,360 | 2,584.5 | 3,513 | 3,463 | 3,362 | 2,761.5 | 3,781 | 3,743 | 3,522 | 2,563.5 | 3,568 | 3,428 | 3,258 | 2,505.5 | 3,312 | 3,389 | ||||||||||||||||||||||||||||||||||
provision for income taxes | 267,000,000 | 234,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
average common shares outstanding | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
basic | 517,785 | 521,647 | -1,119 | 525,991 | 528,247 | 531,739 | -2,007 | 540,357 | 544,617 | 548,200 | -3,790 | 559,492 | 565,799 | 584,053 | -4,736 | 608,934 | 619,143 | 625,030 | -105 | 630,672 | 628,510 | ||||||||||||||||||||||||||||||||||||
diluted | 520,160 | 524,520 | -1,584 | 528,798 | 531,060 | 534,709 | -2,057 | 544,696 | 548,926 | 552,337 | -4,085 | 564,958 | 571,285 | 589,575 | -4,857 | 614,519 | 624,907 | 631,288 | 179 | 637,913 | 635,157 | ||||||||||||||||||||||||||||||||||||
income from continuing operations before income taxes | 832,000,000 | 2,359,000,000 | 1,465,000,000 | 1,388,000,000 | 1,361,000,000 | 1,727,000,000 | 1,359,000,000 | 1,298,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
income from continuing operations | 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 | 872,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
income from discontinued operations** | 706,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
amounts attributable to phillips 66 common stockholders: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
income from discontinued operations | 706,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net income attributable to phillips 66 per share of common stock | 1.22 | 2.92 | 1.85 | 1.8 | 2.06 | 2.11 | 1.52 | 2.69 | |||||||||||||||||||||||||||||||||||||||||||||||||
basic | 0.51 | 7.15 | 0.32 | 2.15 | 1.19 | 0.04 | 0.82 | 2.39 | 1.74 | 2.91 | 4.72 | 3.73 | 4.21 | 3.99 | 11.19 | 6.55 | 1.29 | 2.89 | 0.91 | 0.66 | -1.23 | -1.82 | -0.33 | -5.66 | 1.65 | 1.58 | 3.13 | 0.44 | 4.8 | 3.2 | 2.86 | 1.07 | 6.22 | 1.6 | 1.06 | 1.02 | 0.655 | 0.97 | 0.94 | 0.72 | 1.173 | 0.88 | 1.55 | 2.25 | 1.12 | 2.53 | 1.88 | ||||||||||
continuing operations | 1.22 | 2.92 | 1.85 | 1.8 | 2.05 | 2.11 | 1.52 | 1.48 | |||||||||||||||||||||||||||||||||||||||||||||||||
discontinued operations | 0.01 | 1.21 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
diluted | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
** net of benefit from income taxes on discontinued operations: | 1.25 | 5 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
prior period amounts have been recast to reflect discontinued operations. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net income attributable to phillips 66 per share of common stock (dollars)** | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
basic | 0.51 | 7.15 | 0.32 | 2.15 | 1.19 | 0.04 | 0.82 | 2.39 | 1.74 | 2.91 | 4.72 | 3.73 | 4.21 | 3.99 | 11.19 | 6.55 | 1.29 | 2.89 | 0.91 | 0.66 | -1.23 | -1.82 | -0.33 | -5.66 | 1.65 | 1.58 | 3.13 | 0.44 | 4.8 | 3.2 | 2.86 | 1.07 | 6.22 | 1.6 | 1.06 | 1.02 | 0.655 | 0.97 | 0.94 | 0.72 | 1.173 | 0.88 | 1.55 | 2.25 | 1.12 | 2.53 | 1.88 | ||||||||||
diluted | 0.51 | 7.13 | 0.32 | 2.15 | 1.18 | 0.05 | 0.82 | 2.38 | 1.73 | 2.89 | 4.69 | 3.72 | 4.2 | 3.96 | 11.16 | 6.53 | 1.29 | 2.89 | 0.91 | 0.66 | -1.23 | -1.82 | -0.33 | 1.64 | 1.58 | 3.12 | 0.44 | 4.77 | 3.18 | 2.84 | 1.07 | 6.19 | 1.6 | 1.06 | 1.02 | 0.653 | 0.96 | 0.93 | 0.72 | 1.163 | 0.87 | 1.53 | 2.23 | 1.11 | 2.51 | 1.86 | |||||||||||
average common shares outstanding (in thousands)** | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
basic | 517,785 | 521,647 | -1,119 | 525,991 | 528,247 | 531,739 | -2,007 | 540,357 | 544,617 | 548,200 | -3,790 | 559,492 | 565,799 | 584,053 | -4,736 | 608,934 | 619,143 | 625,030 | -105 | 630,672 | 628,510 | ||||||||||||||||||||||||||||||||||||
diluted | 520,160 | 524,520 | -1,584 | 528,798 | 531,060 | 534,709 | -2,057 | 544,696 | 548,926 | 552,337 | -4,085 | 564,958 | 571,285 | 589,575 | -4,857 | 614,519 | 624,907 | 631,288 | 179 | 637,913 | 635,157 | ||||||||||||||||||||||||||||||||||||
**see note 10—earnings per share. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
* includes excise taxes on petroleum product sales: | 3,321,000,000 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 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 | 2012-06-30 | 2012-03-31 |
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assets | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents | 5,150,000,000 | 1,116,000,000 | 1,845,000,000 | 1,052,000,000 | 1,489,000,000 | 1,738,000,000 | 1,637,000,000 | 2,444,000,000 | 1,570,000,000 | 3,323,000,000 | 3,539,000,000 | 3,029,000,000 | 6,965,000,000 | 6,133,000,000 | 3,744,000,000 | 2,809,000,000 | 3,335,000,000 | 3,147,000,000 | 2,897,000,000 | 2,207,000,000 | 1,351,000,000 | 2,514,000,000 | 1,462,000,000 | 1,890,000,000 | 1,221,000,000 | 1,614,000,000 | 2,268,000,000 | 1,819,000,000 | 1,253,000,000 | 3,019,000,000 | 924,000,000 | 1,884,000,000 | 842,000,000 | 3,119,000,000 | 1,547,000,000 | 2,161,000,000 | 1,513,000,000 | 2,711,000,000 | 2,337,000,000 | 2,232,000,000 | 1,723,000,000 | 3,074,000,000 | 4,822,000,000 | 5,089,000,000 | 5,390,000,000 | 5,207,000,000 | 3,108,000,000 | 4,956,000,000 | 5,326,000,000 | 5,400,000,000 | 4,220,000,000 | 4,753,000,000 | 3,474,000,000 | 4,430,000,000 | 3,104,000,000 | ||
accounts and notes receivable | 11,284,000,000 | 9,158,000,000 | 9,162,000,000 | 9,762,000,000 | 8,616,000,000 | 9,544,000,000 | 8,739,000,000 | 9,017,000,000 | 10,078,000,000 | 10,483,000,000 | 10,530,000,000 | 8,234,000,000 | 8,123,000,000 | 9,497,000,000 | 11,606,000,000 | 10,759,000,000 | 8,749,000,000 | 6,138,000,000 | 6,527,000,000 | 6,627,000,000 | 7,161,000,000 | 5,688,000,000 | 5,195,000,000 | 3,995,000,000 | 4,046,000,000 | 7,376,000,000 | 6,097,000,000 | 5,748,000,000 | 6,476,000,000 | 5,414,000,000 | 6,840,000,000 | 6,006,000,000 | 5,399,000,000 | 6,424,000,000 | 5,421,000,000 | 4,750,000,000 | 4,979,000,000 | 5,485,000,000 | 4,101,000,000 | 4,610,000,000 | 3,991,000,000 | 4,411,000,000 | 4,315,000,000 | 5,377,000,000 | 4,717,000,000 | 6,306,000,000 | 7,043,000,000 | 7,925,000,000 | 7,298,000,000 | 7,900,000,000 | 7,618,000,000 | 7,835,000,000 | 8,388,000,000 | 8,593,000,000 | 9,136,000,000 | 7,876,000,000 | 9,627,000,000 |
inventories | 6,723,000,000 | 5,097,000,000 | 6,419,000,000 | 5,583,000,000 | 5,240,000,000 | 3,995,000,000 | 6,037,000,000 | 6,522,000,000 | 6,286,000,000 | 3,750,000,000 | 5,732,000,000 | 6,380,000,000 | 5,445,000,000 | 3,276,000,000 | 4,294,000,000 | 4,580,000,000 | 4,530,000,000 | 3,394,000,000 | 4,400,000,000 | 4,752,000,000 | 4,273,000,000 | 3,893,000,000 | 4,897,000,000 | 5,136,000,000 | 5,331,000,000 | 3,776,000,000 | 5,521,000,000 | 5,093,000,000 | 5,344,000,000 | 3,543,000,000 | 5,544,000,000 | 4,901,000,000 | 4,743,000,000 | 3,395,000,000 | 4,455,000,000 | 4,245,000,000 | 4,387,000,000 | 3,150,000,000 | 3,905,000,000 | 3,993,000,000 | 4,108,000,000 | 3,477,000,000 | 4,388,000,000 | 4,126,000,000 | 4,166,000,000 | 3,397,000,000 | 5,673,000,000 | 4,928,000,000 | 5,908,000,000 | 3,354,000,000 | 4,737,000,000 | 5,033,000,000 | 5,811,000,000 | 3,430,000,000 | 5,743,000,000 | 5,496,000,000 | 5,040,000,000 |
prepaid expenses and other current assets | 3,613,000,000 | 1,287,000,000 | 1,616,000,000 | 1,478,000,000 | 1,329,000,000 | 1,144,000,000 | 1,193,000,000 | 1,063,000,000 | 1,316,000,000 | 1,138,000,000 | 1,249,000,000 | 1,031,000,000 | 934,000,000 | 1,528,000,000 | 1,580,000,000 | 1,710,000,000 | 1,534,000,000 | 686,000,000 | 716,000,000 | 759,000,000 | 629,000,000 | 347,000,000 | 500,000,000 | 621,000,000 | 594,000,000 | 495,000,000 | 742,000,000 | 656,000,000 | 915,000,000 | 474,000,000 | 875,000,000 | 621,000,000 | 416,000,000 | 370,000,000 | 578,000,000 | 456,000,000 | 580,000,000 | 422,000,000 | 721,000,000 | 821,000,000 | 648,000,000 | 641,000,000 | 752,000,000 | 851,000,000 | 837,000,000 | 647,000,000 | 611,000,000 | 705,000,000 | 851,000,000 | 662,000,000 | 1,483,000,000 | 696,000,000 | 655,000,000 | 907,000,000 | 713,000,000 | 718,000,000 | |
total current assets | 27,396,000,000 | 17,271,000,000 | 22,017,000,000 | 21,076,000,000 | 18,279,000,000 | 17,910,000,000 | 19,307,000,000 | 20,916,000,000 | 20,704,000,000 | 19,941,000,000 | 22,496,000,000 | 19,898,000,000 | 22,670,000,000 | 21,922,000,000 | 23,270,000,000 | 22,492,000,000 | 19,854,000,000 | 14,697,000,000 | 16,019,000,000 | 15,780,000,000 | 14,418,000,000 | 13,276,000,000 | 12,822,000,000 | 12,499,000,000 | 11,705,000,000 | 14,395,000,000 | 15,617,000,000 | 14,295,000,000 | 14,815,000,000 | 13,209,000,000 | 15,314,000,000 | 14,579,000,000 | 12,125,000,000 | 14,390,000,000 | 12,935,000,000 | 12,456,000,000 | 12,170,000,000 | 12,680,000,000 | 11,964,000,000 | 12,643,000,000 | 11,216,000,000 | 12,256,000,000 | 15,049,000,000 | 16,534,000,000 | 16,144,000,000 | 16,696,000,000 | 18,194,000,000 | 20,605,000,000 | 21,059,000,000 | 19,237,000,000 | 21,085,000,000 | 20,529,000,000 | 21,170,000,000 | 17,962,000,000 | 21,873,000,000 | 18,526,000,000 | 23,128,000,000 |
investments and long-term receivables | 12,005,000,000 | 11,905,000,000 | 12,494,000,000 | 13,268,000,000 | 13,359,000,000 | 14,378,000,000 | 15,222,000,000 | 15,191,000,000 | 15,592,000,000 | 15,302,000,000 | 15,316,000,000 | 15,532,000,000 | 15,289,000,000 | 14,950,000,000 | 14,772,000,000 | 14,176,000,000 | 14,465,000,000 | 14,471,000,000 | 14,059,000,000 | 13,520,000,000 | 13,376,000,000 | 13,624,000,000 | 13,767,000,000 | 13,628,000,000 | 13,635,000,000 | 14,571,000,000 | 14,147,000,000 | 15,006,000,000 | 14,786,000,000 | 14,421,000,000 | 14,311,000,000 | 14,177,000,000 | 13,934,000,000 | 13,941,000,000 | 13,899,000,000 | 13,507,000,000 | 13,359,000,000 | 13,534,000,000 | 13,277,000,000 | 12,936,000,000 | 12,449,000,000 | 12,143,000,000 | 10,601,000,000 | 10,070,000,000 | 10,529,000,000 | 10,189,000,000 | 10,237,000,000 | 10,038,000,000 | 10,001,000,000 | 11,220,000,000 | 10,728,000,000 | 10,624,000,000 | 10,498,000,000 | 10,471,000,000 | 10,800,000,000 | 10,640,000,000 | 10,795,000,000 |
net properties, plants and equipment | 39,149,000,000 | 39,097,000,000 | 36,388,000,000 | 36,683,000,000 | 34,966,000,000 | 35,264,000,000 | 35,597,000,000 | 35,229,000,000 | 35,549,000,000 | 35,712,000,000 | 35,533,000,000 | 35,232,000,000 | 35,111,000,000 | 35,163,000,000 | 34,962,000,000 | 22,229,000,000 | 22,333,000,000 | 22,435,000,000 | 22,377,000,000 | 23,688,000,000 | 23,677,000,000 | 23,716,000,000 | 23,489,000,000 | 24,282,000,000 | 24,051,000,000 | 23,786,000,000 | 22,954,000,000 | 22,503,000,000 | 22,263,000,000 | 22,018,000,000 | 21,625,000,000 | 21,465,000,000 | 21,500,000,000 | 21,460,000,000 | 21,303,000,000 | 21,293,000,000 | 21,240,000,000 | 20,855,000,000 | 20,447,000,000 | 20,247,000,000 | 20,075,000,000 | 19,721,000,000 | 19,257,000,000 | 18,765,000,000 | 17,918,000,000 | 17,346,000,000 | 16,951,000,000 | 16,092,000,000 | 15,751,000,000 | 15,398,000,000 | 15,077,000,000 | 14,679,000,000 | 15,257,000,000 | 15,407,000,000 | 15,311,000,000 | 15,169,000,000 | 14,854,000,000 |
goodwill | 1,433,000,000 | 1,433,000,000 | 1,433,000,000 | 1,433,000,000 | 1,575,000,000 | 1,575,000,000 | 1,574,000,000 | 1,553,000,000 | 1,553,000,000 | 1,550,000,000 | 1,555,000,000 | 1,486,000,000 | 1,486,000,000 | 1,486,000,000 | 1,486,000,000 | 1,486,000,000 | 1,484,000,000 | 1,484,000,000 | 1,425,000,000 | 1,425,000,000 | 1,425,000,000 | 1,425,000,000 | 1,425,000,000 | 1,425,000,000 | 1,425,000,000 | 3,270,000,000 | 3,270,000,000 | 3,270,000,000 | 3,270,000,000 | 3,270,000,000 | 3,270,000,000 | 3,270,000,000 | 3,270,000,000 | 3,270,000,000 | 3,270,000,000 | 3,270,000,000 | 3,270,000,000 | 3,270,000,000 | 3,267,000,000 | 3,275,000,000 | 3,275,000,000 | 3,275,000,000 | 3,275,000,000 | 3,275,000,000 | 3,274,000,000 | 3,274,000,000 | 3,275,000,000 | 3,140,000,000 | 3,141,000,000 | 3,096,000,000 | 3,228,000,000 | 3,228,000,000 | 3,344,000,000 | 3,344,000,000 | 3,344,000,000 | 3,344,000,000 | 3,329,000,000 |
intangibles | 969,000,000 | 978,000,000 | 1,029,000,000 | 1,060,000,000 | 1,167,000,000 | 1,161,000,000 | 1,157,000,000 | 901,000,000 | 911,000,000 | 920,000,000 | 926,000,000 | 786,000,000 | 793,000,000 | 831,000,000 | 845,000,000 | 812,000,000 | 819,000,000 | 813,000,000 | 822,000,000 | 825,000,000 | 836,000,000 | 843,000,000 | 849,000,000 | 874,000,000 | 880,000,000 | 869,000,000 | 872,000,000 | 871,000,000 | 864,000,000 | 869,000,000 | 874,000,000 | 866,000,000 | 871,000,000 | 876,000,000 | 884,000,000 | 889,000,000 | 895,000,000 | 888,000,000 | 892,000,000 | 896,000,000 | 901,000,000 | 906,000,000 | 879,000,000 | 880,000,000 | 882,000,000 | 900,000,000 | 819,000,000 | 735,000,000 | 737,000,000 | 698,000,000 | 713,000,000 | 716,000,000 | 727,000,000 | 724,000,000 | 726,000,000 | 728,000,000 | 730,000,000 |
other assets | 3,132,000,000 | 2,996,000,000 | 2,755,000,000 | 2,422,000,000 | 2,492,000,000 | 2,294,000,000 | 2,223,000,000 | 2,155,000,000 | 2,090,000,000 | 2,076,000,000 | 1,960,000,000 | 1,952,000,000 | 1,913,000,000 | 2,090,000,000 | 2,004,000,000 | 1,617,000,000 | 1,683,000,000 | 1,694,000,000 | 1,705,000,000 | 1,739,000,000 | 1,764,000,000 | 1,837,000,000 | 1,929,000,000 | 1,810,000,000 | 1,764,000,000 | 1,829,000,000 | 1,881,000,000 | 1,836,000,000 | 1,857,000,000 | 515,000,000 | 490,000,000 | 469,000,000 | 432,000,000 | 434,000,000 | 421,000,000 | 413,000,000 | 471,000,000 | 426,000,000 | 407,000,000 | 364,000,000 | 330,000,000 | 354,000,000 | 350,000,000 | 330,000,000 | 336,000,000 | 174,000,000 | 212,000,000 | 158,000,000 | 149,000,000 | 152,000,000 | 153,000,000 | 155,000,000 | 165,000,000 | 176,000,000 | 168,000,000 | 162,000,000 | |
total assets | 84,084,000,000 | 73,680,000,000 | 76,116,000,000 | 75,942,000,000 | 71,838,000,000 | 72,582,000,000 | 75,080,000,000 | 75,945,000,000 | 76,399,000,000 | 75,501,000,000 | 77,786,000,000 | 74,886,000,000 | 77,262,000,000 | 76,442,000,000 | 77,339,000,000 | 62,812,000,000 | 60,638,000,000 | 55,594,000,000 | 56,407,000,000 | 56,977,000,000 | 55,496,000,000 | 54,721,000,000 | 54,281,000,000 | 54,518,000,000 | 53,460,000,000 | 58,720,000,000 | 58,741,000,000 | 57,781,000,000 | 57,855,000,000 | 54,302,000,000 | 55,884,000,000 | 54,826,000,000 | 52,132,000,000 | 54,371,000,000 | 52,712,000,000 | 51,828,000,000 | 51,405,000,000 | 51,653,000,000 | 50,254,000,000 | 50,361,000,000 | 48,246,000,000 | 48,580,000,000 | 49,415,000,000 | 49,874,000,000 | 49,077,000,000 | 48,741,000,000 | 49,650,000,000 | 50,822,000,000 | 50,847,000,000 | 49,798,000,000 | 50,983,000,000 | 49,929,000,000 | 51,151,000,000 | 48,073,000,000 | 52,230,000,000 | 48,575,000,000 | 52,998,000,000 |
liabilities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accounts payable | 11,437,000,000 | 8,581,000,000 | 9,523,000,000 | 10,182,000,000 | 10,034,000,000 | 9,792,000,000 | 10,216,000,000 | 11,486,000,000 | 11,745,000,000 | 10,332,000,000 | 12,043,000,000 | 9,722,000,000 | 9,923,000,000 | 10,748,000,000 | 11,449,000,000 | 12,513,000,000 | 12,047,000,000 | 7,629,000,000 | 8,203,000,000 | 8,066,000,000 | 7,484,000,000 | 5,171,000,000 | 4,905,000,000 | 4,902,000,000 | 4,882,000,000 | 8,043,000,000 | 7,738,000,000 | 7,300,000,000 | 8,310,000,000 | 6,113,000,000 | 8,444,000,000 | 8,437,000,000 | 6,736,000,000 | 7,242,000,000 | 6,404,000,000 | 5,891,000,000 | 5,829,000,000 | 6,395,000,000 | 5,767,000,000 | 6,319,000,000 | 5,063,000,000 | 5,155,000,000 | 6,151,000,000 | 7,749,000,000 | 6,965,000,000 | 7,488,000,000 | 10,381,000,000 | 11,529,000,000 | 11,390,000,000 | 9,948,000,000 | 11,236,000,000 | 11,061,000,000 | 11,920,000,000 | 9,731,000,000 | 12,267,000,000 | 10,462,000,000 | 11,785,000,000 |
accounts payable—related parties | 439,000,000 | 286,000,000 | 701,000,000 | 669,000,000 | 691,000,000 | 512,000,000 | 690,000,000 | 836,000,000 | 729,000,000 | 569,000,000 | 667,000,000 | 714,000,000 | 646,000,000 | 575,000,000 | 868,000,000 | 1,139,000,000 | 1,137,000,000 | 832,000,000 | 1,012,000,000 | 879,000,000 | 762,000,000 | 378,000,000 | 552,000,000 | 466,000,000 | 440,000,000 | 532,000,000 | 635,000,000 | 700,000,000 | 703,000,000 | 473,000,000 | 911,000,000 | 899,000,000 | 674,000,000 | 785,000,000 | 867,000,000 | 664,000,000 | 543,000,000 | 666,000,000 | 795,000,000 | 765,000,000 | 704,000,000 | 500,000,000 | 711,000,000 | 735,000,000 | 728,000,000 | 576,000,000 | 1,089,000,000 | 1,320,000,000 | 1,233,000,000 | 1,142,000,000 | 1,508,000,000 | 1,267,000,000 | 1,218,000,000 | 979,000,000 | 1,185,000,000 | 1,012,000,000 | 1,029,000,000 |
short-term debt | 8,448,000,000 | 1,038,000,000 | 2,587,000,000 | 3,735,000,000 | 1,061,000,000 | 1,831,000,000 | 1,522,000,000 | 2,780,000,000 | 2,325,000,000 | 1,482,000,000 | 913,000,000 | 832,000,000 | 825,000,000 | 529,000,000 | 1,032,000,000 | 526,000,000 | 1,474,000,000 | 1,489,000,000 | 1,489,000,000 | 2,489,000,000 | 516,000,000 | 987,000,000 | 1,860,000,000 | 1,783,000,000 | 2,243,000,000 | 547,000,000 | 842,000,000 | 667,000,000 | 30,000,000 | 67,000,000 | 316,000,000 | 341,000,000 | 42,000,000 | 41,000,000 | 706,000,000 | 493,000,000 | 609,000,000 | 550,000,000 | 1,583,000,000 | 1,532,000,000 | 32,000,000 | 44,000,000 | 43,000,000 | 42,000,000 | 35,000,000 | 842,000,000 | 35,000,000 | 38,000,000 | 40,000,000 | 24,000,000 | 24,000,000 | 14,000,000 | 13,000,000 | 13,000,000 | 585,000,000 | 590,000,000 | 207,000,000 |
accrued income and other taxes | 1,184,000,000 | 1,362,000,000 | 1,432,000,000 | 1,535,000,000 | 1,247,000,000 | 1,060,000,000 | 1,206,000,000 | 1,368,000,000 | 1,087,000,000 | 1,200,000,000 | 1,345,000,000 | 1,181,000,000 | 1,388,000,000 | 1,397,000,000 | 1,836,000,000 | 1,723,000,000 | 1,363,000,000 | 1,254,000,000 | 1,287,000,000 | 1,362,000,000 | 1,149,000,000 | 1,351,000,000 | 1,229,000,000 | 1,046,000,000 | 703,000,000 | 979,000,000 | 1,128,000,000 | 1,086,000,000 | 940,000,000 | 1,116,000,000 | 1,151,000,000 | 1,133,000,000 | 1,008,000,000 | 1,002,000,000 | 901,000,000 | 893,000,000 | 853,000,000 | 805,000,000 | 869,000,000 | 912,000,000 | 820,000,000 | 878,000,000 | 980,000,000 | 774,000,000 | 1,112,000,000 | 878,000,000 | 945,000,000 | 1,085,000,000 | 1,591,000,000 | 872,000,000 | 889,000,000 | 825,000,000 | 1,010,000,000 | 901,000,000 | 1,392,000,000 | 1,091,000,000 | 1,195,000,000 |
employee benefit obligations | 398,000,000 | 680,000,000 | 581,000,000 | 441,000,000 | 372,000,000 | 732,000,000 | 676,000,000 | 551,000,000 | 459,000,000 | 863,000,000 | 777,000,000 | 557,000,000 | 436,000,000 | 764,000,000 | 714,000,000 | 494,000,000 | 375,000,000 | 638,000,000 | 464,000,000 | 412,000,000 | 316,000,000 | 573,000,000 | 443,000,000 | 395,000,000 | 301,000,000 | 710,000,000 | 624,000,000 | 502,000,000 | 357,000,000 | 724,000,000 | 569,000,000 | 461,000,000 | 341,000,000 | 582,000,000 | 482,000,000 | 359,000,000 | 284,000,000 | 527,000,000 | 453,000,000 | 385,000,000 | 306,000,000 | 576,000,000 | 458,000,000 | 369,000,000 | 283,000,000 | 462,000,000 | 363,000,000 | 304,000,000 | 232,000,000 | 476,000,000 | 332,000,000 | 300,000,000 | 238,000,000 | 441,000,000 | 350,000,000 | 275,000,000 | 35,000,000 |
other accruals | 2,285,000,000 | 1,379,000,000 | 1,703,000,000 | 1,698,000,000 | 1,478,000,000 | 1,160,000,000 | 1,612,000,000 | 1,250,000,000 | 1,322,000,000 | 1,410,000,000 | 1,671,000,000 | 1,965,000,000 | 1,487,000,000 | 1,876,000,000 | 1,983,000,000 | 1,213,000,000 | 1,207,000,000 | 959,000,000 | 1,466,000,000 | 1,343,000,000 | 1,204,000,000 | 1,058,000,000 | 1,524,000,000 | 1,431,000,000 | 1,960,000,000 | 835,000,000 | 1,116,000,000 | 916,000,000 | 988,000,000 | 442,000,000 | 583,000,000 | 461,000,000 | 435,000,000 | 455,000,000 | 545,000,000 | 574,000,000 | 612,000,000 | 520,000,000 | 633,000,000 | 487,000,000 | 494,000,000 | 378,000,000 | 532,000,000 | 406,000,000 | 741,000,000 | 848,000,000 | 956,000,000 | 844,000,000 | 678,000,000 | 469,000,000 | 691,000,000 | 538,000,000 | 552,000,000 | 417,000,000 | 607,000,000 | 941,000,000 | 461,000,000 |
total current liabilities | 24,191,000,000 | 13,326,000,000 | 17,946,000,000 | 19,685,000,000 | 14,883,000,000 | 15,087,000,000 | 15,922,000,000 | 18,271,000,000 | 17,667,000,000 | 15,856,000,000 | 17,416,000,000 | 14,971,000,000 | 14,705,000,000 | 15,889,000,000 | 17,882,000,000 | 17,608,000,000 | 17,603,000,000 | 12,801,000,000 | 13,921,000,000 | 14,551,000,000 | 11,431,000,000 | 9,518,000,000 | 10,513,000,000 | 10,023,000,000 | 10,529,000,000 | 11,646,000,000 | 12,083,000,000 | 11,171,000,000 | 11,328,000,000 | 8,935,000,000 | 11,974,000,000 | 11,732,000,000 | 9,236,000,000 | 10,107,000,000 | 9,905,000,000 | 8,874,000,000 | 8,730,000,000 | 9,463,000,000 | 10,100,000,000 | 10,400,000,000 | 7,419,000,000 | 7,531,000,000 | 8,875,000,000 | 10,075,000,000 | 9,864,000,000 | 11,094,000,000 | 13,769,000,000 | 15,120,000,000 | 15,164,000,000 | 12,931,000,000 | 14,680,000,000 | 14,005,000,000 | 14,951,000,000 | 12,482,000,000 | 16,386,000,000 | 14,371,000,000 | 14,712,000,000 |
long-term debt | 18,676,000,000 | 18,678,000,000 | 19,168,000,000 | 17,200,000,000 | 17,742,000,000 | 18,231,000,000 | 18,476,000,000 | 17,180,000,000 | 17,829,000,000 | 17,877,000,000 | 18,531,000,000 | 19,034,000,000 | 17,660,000,000 | 16,661,000,000 | 16,625,000,000 | 12,443,000,000 | 12,960,000,000 | 12,959,000,000 | 13,421,000,000 | 12,924,000,000 | 14,906,000,000 | 14,906,000,000 | 12,666,000,000 | 12,663,000,000 | 10,720,000,000 | 11,216,000,000 | 11,083,000,000 | 10,772,000,000 | 11,268,000,000 | 11,093,000,000 | 11,021,000,000 | 11,023,000,000 | 11,579,000,000 | 10,069,000,000 | 9,495,000,000 | 9,472,000,000 | 9,601,000,000 | 9,588,000,000 | 7,275,000,000 | 7,330,000,000 | 8,803,000,000 | 8,908,000,000 | 8,923,000,000 | 8,914,000,000 | 7,842,000,000 | 6,178,000,000 | 6,174,000,000 | 6,177,000,000 | 6,131,000,000 | 6,132,000,000 | 6,455,000,000 | 6,958,000,000 | 6,961,000,000 | 7,393,000,000 | 7,396,000,000 | 5,971,000,000 | |
asset retirement obligations and accrued environmental costs | 991,000,000 | 1,022,000,000 | 1,047,000,000 | 983,000,000 | 1,151,000,000 | 1,129,000,000 | 1,102,000,000 | 939,000,000 | 919,000,000 | 864,000,000 | 869,000,000 | 876,000,000 | 872,000,000 | 879,000,000 | 862,000,000 | 708,000,000 | 716,000,000 | 727,000,000 | 680,000,000 | 694,000,000 | 682,000,000 | 657,000,000 | 644,000,000 | 625,000,000 | 635,000,000 | 638,000,000 | 617,000,000 | 634,000,000 | 620,000,000 | 624,000,000 | 637,000,000 | 646,000,000 | 644,000,000 | 641,000,000 | 629,000,000 | 625,000,000 | 616,000,000 | 655,000,000 | 654,000,000 | 672,000,000 | 673,000,000 | 665,000,000 | 681,000,000 | 655,000,000 | 650,000,000 | 683,000,000 | 726,000,000 | 713,000,000 | 697,000,000 | 700,000,000 | 687,000,000 | 667,000,000 | 703,000,000 | 740,000,000 | 766,000,000 | 770,000,000 | 774,000,000 |
deferred income taxes | 7,376,000,000 | 7,308,000,000 | 6,971,000,000 | 6,962,000,000 | 6,972,000,000 | 7,101,000,000 | 7,257,000,000 | 7,224,000,000 | 7,368,000,000 | 7,424,000,000 | 7,234,000,000 | 6,819,000,000 | 6,813,000,000 | 6,671,000,000 | 6,339,000,000 | 5,444,000,000 | 5,264,000,000 | 5,475,000,000 | 5,434,000,000 | 5,879,000,000 | 5,547,000,000 | 5,644,000,000 | 5,507,000,000 | 5,471,000,000 | 5,487,000,000 | 5,553,000,000 | 5,503,000,000 | 5,533,000,000 | 5,456,000,000 | 5,275,000,000 | 5,311,000,000 | 5,191,000,000 | 5,119,000,000 | 5,008,000,000 | 7,605,000,000 | 7,565,000,000 | 7,254,000,000 | 6,743,000,000 | 6,568,000,000 | 6,233,000,000 | 6,089,000,000 | 6,041,000,000 | 5,401,000,000 | 5,447,000,000 | 5,483,000,000 | 5,491,000,000 | 5,632,000,000 | 5,686,000,000 | 5,692,000,000 | 6,125,000,000 | 5,633,000,000 | 5,480,000,000 | 5,507,000,000 | 5,444,000,000 | 5,436,000,000 | 5,497,000,000 | 6,008,000,000 |
other liabilities and deferred credits | 2,607,000,000 | 2,532,000,000 | 2,345,000,000 | 1,874,000,000 | 2,047,000,000 | 1,868,000,000 | 1,877,000,000 | 1,198,000,000 | 1,210,000,000 | 1,200,000,000 | 1,166,000,000 | 1,202,000,000 | 1,365,000,000 | 1,299,000,000 | 1,301,000,000 | 1,065,000,000 | 925,000,000 | 940,000,000 | 1,231,000,000 | 1,179,000,000 | 1,122,000,000 | 1,132,000,000 | 1,252,000,000 | 1,081,000,000 | 1,450,000,000 | 1,454,000,000 | 1,458,000,000 | 1,459,000,000 | 1,563,000,000 | 355,000,000 | 353,000,000 | 389,000,000 | 375,000,000 | 234,000,000 | 242,000,000 | 236,000,000 | 257,000,000 | 263,000,000 | 285,000,000 | 317,000,000 | 309,000,000 | 277,000,000 | 269,000,000 | 274,000,000 | 279,000,000 | 289,000,000 | 309,000,000 | 349,000,000 | 495,000,000 | 598,000,000 | 571,000,000 | 304,000,000 | 315,000,000 | 315,000,000 | 562,000,000 | 505,000,000 | 471,000,000 |
total liabilities | 54,403,000,000 | 43,439,000,000 | 48,039,000,000 | 47,315,000,000 | 43,485,000,000 | 44,119,000,000 | 45,296,000,000 | 45,438,000,000 | 45,606,000,000 | 43,851,000,000 | 45,797,000,000 | 43,826,000,000 | 42,346,000,000 | 42,336,000,000 | 44,030,000,000 | 38,239,000,000 | 38,517,000,000 | 33,957,000,000 | 35,810,000,000 | 36,375,000,000 | 35,039,000,000 | 33,198,000,000 | 31,976,000,000 | 31,223,000,000 | 29,821,000,000 | 31,551,000,000 | 31,649,000,000 | 30,475,000,000 | 31,110,000,000 | 27,149,000,000 | 30,089,000,000 | 29,866,000,000 | 27,832,000,000 | 26,943,000,000 | 28,753,000,000 | 28,022,000,000 | 27,680,000,000 | 27,928,000,000 | 25,943,000,000 | 26,295,000,000 | 24,603,000,000 | 24,642,000,000 | 25,383,000,000 | 26,651,000,000 | 26,482,000,000 | 26,704,000,000 | 27,456,000,000 | 28,867,000,000 | 29,018,000,000 | 27,406,000,000 | 28,989,000,000 | 28,239,000,000 | 29,773,000,000 | 27,267,000,000 | 31,624,000,000 | 29,596,000,000 | 28,055,000,000 |
equity | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
common stock | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
par value | 7,000,000 | 7,000,000 | 7,000,000 | 7,000,000 | 7,000,000 | 7,000,000 | 7,000,000 | 7,000,000 | 7,000,000 | 7,000,000 | 7,000,000 | 7,000,000 | 7,000,000 | 7,000,000 | 7,000,000 | 7,000,000 | 7,000,000 | 7,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | |
capital in excess of par | 20,021,000,000 | 19,948,000,000 | 19,911,000,000 | 19,820,000,000 | 19,789,000,000 | 19,788,000,000 | 19,759,000,000 | 19,717,000,000 | 19,674,000,000 | 19,650,000,000 | 19,603,000,000 | 19,463,000,000 | 19,795,000,000 | 19,791,000,000 | 19,738,000,000 | 19,717,000,000 | 19,667,000,000 | 20,504,000,000 | 20,488,000,000 | 20,463,000,000 | 20,420,000,000 | 20,383,000,000 | 20,363,000,000 | 20,342,000,000 | 20,305,000,000 | 20,301,000,000 | 20,253,000,000 | 19,912,000,000 | 19,879,000,000 | 19,873,000,000 | 19,860,000,000 | 19,831,000,000 | 19,775,000,000 | 19,768,000,000 | 19,652,000,000 | 19,624,000,000 | 19,569,000,000 | 19,559,000,000 | 19,474,000,000 | 19,370,000,000 | 19,142,000,000 | 19,145,000,000 | 19,116,000,000 | 19,093,000,000 | 19,060,000,000 | 19,040,000,000 | 19,028,000,000 | 18,986,000,000 | 18,932,000,000 | 18,887,000,000 | 18,839,000,000 | 18,812,000,000 | 18,775,000,000 | 18,726,000,000 | 18,643,000,000 | 18,608,000,000 | |
treasury stock | -24,203,000,000 | -23,934,000,000 | -23,656,000,000 | -23,390,000,000 | -22,995,000,000 | -22,751,000,000 | -22,140,000,000 | -21,332,000,000 | -20,489,000,000 | -19,342,000,000 | -18,155,000,000 | -17,422,000,000 | -16,083,000,000 | -15,276,000,000 | -14,526,000,000 | -13,802,000,000 | -13,736,000,000 | -17,116,000,000 | -17,116,000,000 | -17,116,000,000 | -17,116,000,000 | -17,116,000,000 | -17,116,000,000 | -17,116,000,000 | -111,000,000 | ||||||||||||||||||||||||||||||||
retained earnings | 32,934,000,000 | 33,239,000,000 | 30,818,000,000 | 31,172,000,000 | 30,785,000,000 | 30,771,000,000 | 31,237,000,000 | 31,372,000,000 | 30,846,000,000 | 30,550,000,000 | 29,751,000,000 | 28,122,000,000 | 26,903,000,000 | 25,432,000,000 | 24,008,000,000 | 19,087,000,000 | 16,391,000,000 | 16,216,000,000 | 15,350,000,000 | 15,345,000,000 | 15,449,000,000 | 16,500,000,000 | 17,436,000,000 | 18,631,000,000 | 19,168,000,000 | 22,064,000,000 | 21,730,000,000 | 21,423,000,000 | 20,408,000,000 | 20,489,000,000 | 18,618,000,000 | 17,500,000,000 | 16,537,000,000 | 16,306,000,000 | 13,464,000,000 | 13,001,000,000 | 12,814,000,000 | 12,608,000,000 | 12,775,000,000 | 12,597,000,000 | 12,434,000,000 | 12,348,000,000 | 12,000,000,000 | 10,726,000,000 | 10,021,000,000 | 9,309,000,000 | 8,439,000,000 | 7,541,000,000 | 6,962,000,000 | 5,622,000,000 | 5,030,000,000 | 4,687,000,000 | 3,923,000,000 | 2,713,000,000 | 2,164,000,000 | 692,000,000 | |
accumulated other comprehensive loss | -231,000,000 | -167,000,000 | -163,000,000 | -118,000,000 | -313,000,000 | -407,000,000 | -141,000,000 | -309,000,000 | -312,000,000 | -282,000,000 | -385,000,000 | -272,000,000 | -373,000,000 | -460,000,000 | -994,000,000 | -733,000,000 | -514,000,000 | -445,000,000 | -589,000,000 | -549,000,000 | -780,000,000 | -789,000,000 | -967,000,000 | -1,148,000,000 | |||||||||||||||||||||||||||||||||
total stockholders’ equity | 28,528,000,000 | 29,093,000,000 | 26,917,000,000 | 27,491,000,000 | 27,273,000,000 | 27,408,000,000 | 28,722,000,000 | 29,455,000,000 | 29,726,000,000 | 30,583,000,000 | 30,821,000,000 | 29,898,000,000 | 30,249,000,000 | 29,494,000,000 | 28,233,000,000 | 24,276,000,000 | 21,815,000,000 | 19,166,000,000 | 18,139,000,000 | 18,149,000,000 | 17,979,000,000 | 18,984,000,000 | 19,722,000,000 | 20,715,000,000 | 21,372,000,000 | 24,910,000,000 | 24,857,000,000 | 24,752,000,000 | 24,217,000,000 | 24,653,000,000 | 23,319,000,000 | 22,536,000,000 | 21,923,000,000 | 25,085,000,000 | 22,523,000,000 | 22,368,000,000 | 22,364,000,000 | 22,390,000,000 | 22,905,000,000 | 22,842,000,000 | 22,788,000,000 | 23,100,000,000 | 23,194,000,000 | 22,389,000,000 | 21,760,000,000 | 21,590,000,000 | 21,746,000,000 | 21,511,000,000 | 21,385,000,000 | 21,550,000,000 | 21,655,000,000 | 21,344,000,000 | 20,573,000,000 | 18,948,000,000 | |||
noncontrolling interests | 1,153,000,000 | 1,148,000,000 | 1,160,000,000 | 1,136,000,000 | 1,080,000,000 | 1,055,000,000 | 1,062,000,000 | 1,052,000,000 | 1,067,000,000 | 1,067,000,000 | 1,168,000,000 | 1,162,000,000 | 4,667,000,000 | 4,612,000,000 | 5,076,000,000 | 297,000,000 | 306,000,000 | 2,471,000,000 | 2,458,000,000 | 2,453,000,000 | 2,478,000,000 | 2,539,000,000 | 2,583,000,000 | 2,580,000,000 | 2,267,000,000 | 2,259,000,000 | 2,235,000,000 | 2,554,000,000 | 2,528,000,000 | 2,500,000,000 | 2,476,000,000 | 2,424,000,000 | 2,377,000,000 | 2,343,000,000 | 1,436,000,000 | 1,438,000,000 | 1,361,000,000 | 1,335,000,000 | 1,406,000,000 | 1,224,000,000 | 855,000,000 | 838,000,000 | 838,000,000 | 834,000,000 | 835,000,000 | 447,000,000 | 448,000,000 | 444,000,000 | 444,000,000 | 442,000,000 | 444,000,000 | 35,000,000 | 34,000,000 | 31,000,000 | 33,000,000 | 31,000,000 | 31,000,000 |
total equity | 29,681,000,000 | 30,241,000,000 | 28,077,000,000 | 28,627,000,000 | 28,353,000,000 | 28,463,000,000 | 29,784,000,000 | 30,507,000,000 | 30,793,000,000 | 31,650,000,000 | 31,989,000,000 | 31,060,000,000 | 34,916,000,000 | 34,106,000,000 | 33,309,000,000 | 24,573,000,000 | 22,121,000,000 | 21,637,000,000 | 20,597,000,000 | 20,602,000,000 | 20,457,000,000 | 21,523,000,000 | 22,305,000,000 | 23,295,000,000 | 23,639,000,000 | 27,169,000,000 | 27,092,000,000 | 27,306,000,000 | 26,745,000,000 | 27,153,000,000 | 25,795,000,000 | 24,960,000,000 | 24,300,000,000 | 27,428,000,000 | 23,959,000,000 | 23,806,000,000 | 23,725,000,000 | 23,725,000,000 | 24,311,000,000 | 24,066,000,000 | 23,643,000,000 | 23,938,000,000 | 24,032,000,000 | 23,223,000,000 | 22,595,000,000 | 22,037,000,000 | 22,194,000,000 | 21,955,000,000 | 21,829,000,000 | 22,392,000,000 | 21,994,000,000 | 21,690,000,000 | 21,378,000,000 | 20,806,000,000 | 20,606,000,000 | 18,979,000,000 | |
total liabilities and equity | 84,084,000,000 | 73,680,000,000 | 76,116,000,000 | 75,942,000,000 | 71,838,000,000 | 72,582,000,000 | 75,080,000,000 | 75,945,000,000 | 76,399,000,000 | 75,501,000,000 | 77,786,000,000 | 74,886,000,000 | 77,262,000,000 | 76,442,000,000 | 77,339,000,000 | 62,812,000,000 | 60,638,000,000 | 55,594,000,000 | 56,407,000,000 | 56,977,000,000 | 55,496,000,000 | 54,721,000,000 | 54,281,000,000 | 54,518,000,000 | 53,460,000,000 | 58,720,000,000 | 58,741,000,000 | 57,781,000,000 | 57,855,000,000 | 54,302,000,000 | 55,884,000,000 | 54,826,000,000 | 52,132,000,000 | 54,371,000,000 | 52,712,000,000 | 51,828,000,000 | 51,405,000,000 | 51,653,000,000 | 50,254,000,000 | 50,361,000,000 | 48,246,000,000 | 48,580,000,000 | 49,415,000,000 | 49,874,000,000 | 49,077,000,000 | 48,741,000,000 | 49,650,000,000 | 50,822,000,000 | 50,847,000,000 | 49,798,000,000 | 50,983,000,000 | 49,929,000,000 | 51,151,000,000 | 48,073,000,000 | 52,230,000,000 | 48,575,000,000 | |
see notes to consolidated financial statements. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
assets held for sale | 1,594,000,000 | 1,625,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
liabilities held for sale | 1,419,000,000 | 1,425,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
prepaid expenses and other current assets* | 532,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other assets* | 279,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
long-term debt* | 8,843,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
*prior period amounts have been retrospectively adjusted for accounting standards update no. 2015-03. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income | 186,000,000 | 77,000,000 | 37,000,000 | -129,000,000 | -358,000,000 | 160,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
total stockholders' equity | 21,950,000,000 | 20,775,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents* | 5,942,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
* the september 30, 2013, balance includes 422 million of cash and cash equivalents held by phillips 66 partners lp. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net parent company investment | 24,752,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
restricted cash | 6,050,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net investment | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total | 24,912,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total net investment | 24,943,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total liabilities and net investment | 52,998,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
combined statement of cash flows | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flows from operating activities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net income | 638,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net income to net cash from operating activities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
depreciation and amortization | 216,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
impairments | 43,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accretion on discounted liabilities | 5,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
deferred taxes | 169,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
undistributed equity earnings | -349,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net gain on dispositions | -2,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other | -178,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
working capital adjustments | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease (increase) in accounts and notes receivable | -1,291,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease (increase) in inventories | -1,518,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease (increase) in prepaid expenses and other current assets | -183,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in accounts payable | 1,996,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in taxes and other accruals | 93,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net cash from operating activities | -361,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flows from investing activities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
capital expenditures and investments | -218,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from asset dispositions | 6,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net cash from investing activities | -212,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flows from financing activities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
contributions from parent company | 891,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issuance of debt | 5,794,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
repayment of debt | -7,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
change in restricted cash | -6,050,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net cash from financing activities | 573,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net change in cash and cash equivalents | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents at beginning of period | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents at end of period |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 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 | 2012-06-30 | 2012-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net income | 219,000,000 | 2,927,000,000 | 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 | -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 | 1,182,000,000 | 638,000,000 | |||
adjustments to reconcile net income to net cash from operating activities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
depreciation and amortization | 558,000,000 | 818,000,000 | 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 | 224,000,000 | 216,000,000 |
impairments | 8,000,000 | 79,000,000 | 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 | 275,000,000 | 43,000,000 | ||||||||
accretion on discounted liabilities | 12,000,000 | 13,000,000 | 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 | 6,000,000 | 5,000,000 |
deferred income taxes | 67,000,000 | 345,000,000 | 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 | -86,000,000 | -20,000,000 | -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 | -212,000,000 | -349,000,000 | |||||||||||||||||||||
net gain on dispositions | -6,000,000 | -1,979,000,000 | -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 | -188,000,000 | -2,000,000 | |||||||||||||||||||||||||||||||||||
unrealized investment loss | 9,000,000 | 2,000,000 | -4,000,000 | 4,000,000 | 10,000,000 | 1,000,000 | 7,000,000 | -6,000,000 | 4,000,000 | 8,000,000 | 15,000,000 | 11,000,000 | 15,000,000 | 28,000,000 | 221,000,000 | 169,000,000 | |||||||||||||||||||||||||||||||||||||||||
other | -82,000,000 | -141,000,000 | 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 | 164,000,000 | -178,000,000 | ||||
working capital adjustments | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accounts and notes receivable | -2,471,000,000 | -466,000,000 | 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 | -1,658,000,000 | 2,590,000,000 | -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 | -2,327,000,000 | 275,000,000 | -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 | 3,023,000,000 | -1,210,000,000 | -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 | 470,000,000 | -481,000,000 | 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 | -2,264,000,000 | 2,752,000,000 | 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 | 1,434,000,000 | -361,000,000 | ||||
cash flows from investing activities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
capital expenditures and investments | -582,000,000 | -682,000,000 | -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 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -339,000,000 | -270,000,000 | -218,000,000 | ||||
free cash flows | -2,846,000,000 | 2,070,000,000 | 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 | 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 | 1,579,000,000 | 1,164,000,000 | -579,000,000 | ||||
acquisitions, net of cash acquired | -66,000,000 | -1,288,000,000 | 10,000,000 | -58,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
return of investments in equity affiliates | 26,000,000 | 32,000,000 | 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 | 7,000,000 | 1,489,000,000 | 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 | 234,000,000 | 6,000,000 | ||||||||||||||||||||||||||
net cash from investing activities | -606,000,000 | -467,000,000 | -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 | -36,000,000 | -212,000,000 | ||||||||||||||||||||||||||||||
cash flows from financing activities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issuance of debt | 9,629,000,000 | 2,446,000,000 | 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 | 2,000,000,000 | 5,794,000,000 | ||||||||||||||
repayment of debt | -1,965,000,000 | -4,787,000,000 | -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 | -191,000,000 | -7,000,000 | |||||||||||||||||||||||||||||||
issuance of common stock | 84,000,000 | 14,000,000 | 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 | -269,000,000 | -274,000,000 | -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 | -509,000,000 | -482,000,000 | -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 | -22,000,000 | -41,000,000 | -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 | 15,000,000 | 8,000,000 | 18,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
net cash from financing activities | 6,920,000,000 | -3,126,000,000 | 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 | 1,703,000,000 | 573,000,000 | ||||||||||||||||||||||||||||
effect of exchange rate changes on cash and cash equivalents | -16,000,000 | 7,000,000 | 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 | 4,034,000,000 | -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 beginning of period | 1,116,000,000 | 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 | 5,150,000,000 | 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 | ||||||||||||||||||||||||
loss on early redemption of debt | 0 | -5,000,000 | 0 | 2,000,000 | 0 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||
purchases of government obligations | 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. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
gain on early redemption of debt | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 change in cash and cash equivalents, including cash classified within assets held for sale | 806,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents at end of period, including cash classified within assets held for sale | 806,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
gain related to merger of businesses | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net proceeds from issuance of phillips 66 partners lp common and preferred units | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
unrealized investment gain | -141,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net loss | 374,000,000 | -639,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net loss to net cash from operating activities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 1,366,000,000 | 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 | 1,955,000,000 | -1,291,000,000 | ||||||||||||||||||||||||||||||||||||||||||
decrease (increase) in inventories | 2,308,000,000 | -207,000,000 | -528,000,000 | -1,518,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease (increase) in prepaid expenses and other current assets | 159,000,000 | 105,000,000 | -105,000,000 | 22,000,000 | -183,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | -2,029,000,000 | 1,996,000,000 | |||||||||||||||||||||||||||||||||||||||||
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 | 554,000,000 | 93,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in accounts and notes receivable | 103,000,000 | 621,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in inventories | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in prepaid expenses and other current assets | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 9,000,000 | 169,000,000 | ||||||||||||||||||||||||||||||||||||||||||
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 | -6,050,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
contributions from parent company | 891,000,000 |