$PSX
Phillips 66

2019 Q2 Form 10-Q Financial Statement

#000153470119000095 Filed on July 26, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2 2018 Q1
Revenue $27.85B $28.98B $23.60B
YoY Change -3.91% 20.31% 3.06%
Cost Of Revenue $24.55B $25.75B $21.14B
YoY Change -4.63% 40.29% 1.82%
Gross Profit $3.293B $3.233B $2.457B
YoY Change 1.86% -43.62% 18.93%
Gross Profit Margin 11.83% 11.16% 10.41%
Selling, General & Admin $408.0M $432.0M $386.0M
YoY Change -5.56% -1.59% 0.52%
% of Gross Profit 12.39% 13.36% 15.71%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $334.0M $337.0M $336.0M
YoY Change -0.89% 5.31% 6.67%
% of Gross Profit 10.14% 10.42% 13.68%
Operating Expenses $408.0M $432.0M $386.0M
YoY Change -5.56% -1.59% 0.52%
Operating Profit $2.885B $2.801B $2.071B
YoY Change 3.0% -47.1% 23.13%
Interest Expense $595.0M $329.0M $288.0M
YoY Change 80.85% -37.69% -24.8%
% of Operating Profit 20.62% 11.75% 13.91%
Other Income/Expense, Net $23.00M $13.00M $10.00M
YoY Change 76.92% -27.78% -97.79%
Pretax Income $1.829B $1.835B $717.0M
YoY Change -0.33% 116.39% -10.04%
Income Tax $325.0M $431.0M $132.0M
% Of Pretax Income 17.77% 23.49% 18.41%
Net Earnings $1.424B $1.339B $524.0M
YoY Change 6.35% 143.45% -2.06%
Net Earnings / Revenue 5.11% 4.62% 2.22%
Basic Earnings Per Share $3.13 $2.86 $1.07
Diluted Earnings Per Share $3.12 $2.84 $1.07
COMMON SHARES
Basic Shares Outstanding 453.7M shares 468.3M shares 487.1M shares
Diluted Shares Outstanding 455.6M shares 471.6M shares 489.7M shares

Balance Sheet

Concept 2019 Q2 2018 Q2 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.819B $1.884B $842.0M
YoY Change -3.45% -12.82% -44.35%
Cash & Equivalents $1.819B $1.884B $842.0M
Short-Term Investments
Other Short-Term Assets $656.0M $621.0M $416.0M
YoY Change 5.64% 36.18% -28.28%
Inventory $5.093B $4.901B $4.743B
Prepaid Expenses
Receivables $6.727B $7.173B $6.124B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $14.30B $14.58B $12.13B
YoY Change -1.95% 17.04% -0.37%
LONG-TERM ASSETS
Property, Plant & Equipment $22.50B $21.47B $21.50B
YoY Change 4.84% 0.81% 1.22%
Goodwill $3.270B $3.270B $3.270B
YoY Change 0.0% 0.0% 0.0%
Intangibles $871.0M $866.0M $871.0M
YoY Change 0.58% -2.59% -2.68%
Long-Term Investments $15.01B $14.18B $13.93B
YoY Change 5.85% 4.96% 4.3%
Other Assets $1.836B $469.0M $432.0M
YoY Change 291.47% 13.56% -8.28%
Total Long-Term Assets $43.49B $40.25B $40.01B
YoY Change 8.05% 2.22% 1.97%
TOTAL ASSETS
Total Short-Term Assets $14.30B $14.58B $12.13B
Total Long-Term Assets $43.49B $40.25B $40.01B
Total Assets $57.78B $54.83B $52.13B
YoY Change 5.39% 5.78% 1.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.300B $8.437B $6.736B
YoY Change -13.48% 43.22% 15.56%
Accrued Expenses $2.472B $2.093B $1.763B
YoY Change 18.11% 14.62% 0.8%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $667.0M $341.0M $42.00M
YoY Change 95.6% -30.83% -93.1%
Total Short-Term Liabilities $11.17B $11.73B $9.236B
YoY Change -4.78% 32.21% 5.8%
LONG-TERM LIABILITIES
Long-Term Debt $10.77B $11.02B $11.58B
YoY Change -2.28% 16.37% 20.6%
Other Long-Term Liabilities $2.999B $1.920B $1.898B
YoY Change 56.2% -9.05% -9.4%
Total Long-Term Liabilities $13.77B $12.94B $13.48B
YoY Change 6.4% 11.74% 15.23%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.17B $11.73B $9.236B
Total Long-Term Liabilities $13.77B $12.94B $13.48B
Total Liabilities $30.48B $29.87B $27.83B
YoY Change 2.04% 6.58% 0.55%
SHAREHOLDERS EQUITY
Retained Earnings $21.42B $17.50B $16.54B
YoY Change 22.42% 34.61% 29.05%
Common Stock $19.92B $19.84B $19.78B
YoY Change 0.41% 1.05% 1.05%
Preferred Stock
YoY Change
Treasury Stock (at cost) $15.82B $14.12B $13.89B
YoY Change 12.05% 49.37% 53.1%
Treasury Stock Shares 198.3M shares 181.0M shares 178.9M shares
Shareholders Equity $24.75B $22.54B $21.92B
YoY Change
Total Liabilities & Shareholders Equity $57.78B $54.83B $52.13B
YoY Change 5.39% 5.78% 1.41%

Cashflow Statement

Concept 2019 Q2 2018 Q2 2018 Q1
OPERATING ACTIVITIES
Net Income $1.424B $1.339B $524.0M
YoY Change 6.35% 143.45% -2.06%
Depreciation, Depletion And Amortization $334.0M $337.0M $336.0M
YoY Change -0.89% 5.31% 6.67%
Cash From Operating Activities $1.930B $2.364B $488.0M
YoY Change -18.36% 26.76% -188.89%
INVESTING ACTIVITIES
Capital Expenditures -$631.0M -$538.0M -$328.0M
YoY Change 17.29% 17.47% -30.21%
Acquisitions
YoY Change
Other Investing Activities $57.00M $74.00M $45.00M
YoY Change -22.97% 1380.0% 87.5%
Cash From Investing Activities -$574.0M -$464.0M -$357.0M
YoY Change 23.71% 2.43% -325.95%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $3.270B
YoY Change 1063.7%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -787.0M -841.0M -$2.409B
YoY Change -6.42% -6.97% 251.17%
NET CHANGE
Cash From Operating Activities 1.930B 2.364B $488.0M
Cash From Investing Activities -574.0M -464.0M -$357.0M
Cash From Financing Activities -787.0M -841.0M -$2.409B
Net Change In Cash 569.0M 1.059B -$2.277B
YoY Change -46.27% 108.46% 111.81%
FREE CASH FLOW
Cash From Operating Activities $1.930B $2.364B $488.0M
Capital Expenditures -$631.0M -$538.0M -$328.0M
Free Cash Flow $2.561B $2.902B $816.0M
YoY Change -11.75% 24.92% -1132.91%

Facts In Submission

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us-gaap Basis Of Accounting
BasisOfAccounting
<div style="line-height:120%;font-size:10.5pt;"><span style="font-family:inherit;font-size:10.5pt;color:#000000;font-weight:bold;text-decoration:none;">Note 1—</span><span style="font-family:inherit;font-size:10.5pt;color:#000000;font-weight:bold;text-decoration:none;">Interim Financial Information</span><span style="font-family:inherit;font-size:10.5pt;font-weight:bold;"> </span></div><div style="line-height:120%;font-size:10.5pt;"><span style="font-family:inherit;font-size:10.5pt;"><br/></span></div><div style="line-height:120%;font-size:10.5pt;"><span style="font-family:inherit;font-size:10.5pt;">The unaudited interim financial information presented in the financial statements included in this report is prepared in accordance with generally accepted accounting principles in the United States (GAAP) and includes all known accruals and adjustments necessary, in the opinion of management, for a fair presentation of the consolidated financial position of Phillips 66 and its results of operations and cash flows for the periods presented. Unless otherwise specified, all such adjustments are of a normal and recurring nature. Certain notes and other information have been condensed or omitted from the interim financial statements included in this report. Therefore, these interim financial statements should be read in conjunction with the consolidated financial statements and notes included in our </span><span style="font-family:inherit;font-size:10.5pt;">2018</span><span style="font-family:inherit;font-size:10.5pt;"> Annual Report on Form 10-K. The results of operations for the </span><span style="font-family:inherit;font-size:10.5pt;">three and six months</span><span style="font-family:inherit;font-size:10.5pt;"> ended </span><span style="font-family:inherit;font-size:10.5pt;">June 30, 2019</span><span style="font-family:inherit;font-size:10.5pt;">, are not necessarily indicative of the results to be expected for the full year. Certain prior period financial information has been recast to reflect the current year’s presentation.</span></div>
CY2019Q1 us-gaap Tax Cuts And Jobs Act Of2017 Reclassification From Aoci To Retained Earnings Tax Effect
TaxCutsAndJobsActOf2017ReclassificationFromAociToRetainedEarningsTaxEffect
-89000000 USD
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1415000000 USD
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
27847000000 USD
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
28980000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
50950000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
52575000000 USD
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
27847000000 USD
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
28980000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
50950000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
52575000000 USD
CY2019Q2 us-gaap Accounts Receivable Net
AccountsReceivableNet
5385000000 USD
CY2018Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
4993000000 USD
CY2019Q2 us-gaap Accounts Notes And Loans Receivable Net Current
AccountsNotesAndLoansReceivableNetCurrent
6727000000 USD
CY2019Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
41000000 USD
CY2019Q2 psx Accountsand Notes Receivable Percent Outstandinglessthan60days
AccountsandNotesReceivablePercentOutstandinglessthan60days
0.99
CY2019Q2 us-gaap Inventory Crude Oil Products And Merchandise
InventoryCrudeOilProductsAndMerchandise
4781000000 USD
CY2018Q4 us-gaap Inventory Crude Oil Products And Merchandise
InventoryCrudeOilProductsAndMerchandise
3238000000 USD
CY2019Q2 us-gaap Other Inventory Net Of Reserves
OtherInventoryNetOfReserves
312000000 USD
CY2018Q4 us-gaap Other Inventory Net Of Reserves
OtherInventoryNetOfReserves
305000000 USD
CY2019Q2 us-gaap Inventory Net
InventoryNet
5093000000 USD
CY2018Q4 us-gaap Inventory Net
InventoryNet
3543000000 USD
CY2019Q2 us-gaap Lifo Inventory Amount
LIFOInventoryAmount
4678000000 USD
CY2018Q4 us-gaap Lifo Inventory Amount
LIFOInventoryAmount
3123000000 USD
CY2019Q2 us-gaap Excess Of Replacement Or Current Costs Over Stated Lifo Value
ExcessOfReplacementOrCurrentCostsOverStatedLIFOValue
4600000000 USD
CY2018Q4 us-gaap Excess Of Replacement Or Current Costs Over Stated Lifo Value
ExcessOfReplacementOrCurrentCostsOverStatedLIFOValue
2900000000 USD
CY2019Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
36236000000 USD
CY2019Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
13733000000 USD
CY2019Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
22503000000 USD
CY2018Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
35197000000 USD
CY2018Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
13179000000 USD
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
22018000000 USD
CY2019Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
1424000000 USD
CY2019Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
1424000000 USD
CY2018Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
1339000000 USD
CY2018Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
1339000000 USD
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
1628000000 USD
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
1628000000 USD
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
1863000000 USD
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
1863000000 USD
CY2019Q2 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
2000000 USD
CY2019Q2 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
1000000 USD
CY2018Q2 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
1000000 USD
CY2018Q2 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
0 USD
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
3000000 USD
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
2000000 USD
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
3000000 USD
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
0 USD
CY2019Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1422000000 USD
CY2019Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1423000000 USD
CY2018Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1338000000 USD
CY2018Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1339000000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1625000000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1626000000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1860000000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1863000000 USD
CY2019Q2 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
451216000 shares
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
453681000 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
465052000 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
468331000 shares
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
453041000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
455630000 shares
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
474267000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
477647000 shares
CY2019Q2 us-gaap Weighted Average Number Of Shares Contingently Issuable
WeightedAverageNumberOfSharesContingentlyIssuable
2465000 shares
CY2019Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1904000 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Contingently Issuable
WeightedAverageNumberOfSharesContingentlyIssuable
3279000 shares
CY2018Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3307000 shares
us-gaap Weighted Average Number Of Shares Contingently Issuable
WeightedAverageNumberOfSharesContingentlyIssuable
2589000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1990000 shares
us-gaap Weighted Average Number Of Shares Contingently Issuable
WeightedAverageNumberOfSharesContingentlyIssuable
3380000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3348000 shares
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
453681000 shares
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
455585000 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
468331000 shares
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
471638000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
455630000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
457620000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
477647000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
480995000 shares
CY2019Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.13
CY2019Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.12
CY2018Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.86
CY2018Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.84
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.57
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.55
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.89
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.87
CY2019Q2 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
463000000 USD
CY2018Q4 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
447000000 USD
CY2019Q2 psx Estimated Percentage Of Derivative Contract Volume Expiring Within Twelve Months
EstimatedPercentageOfDerivativeContractVolumeExpiringWithinTwelveMonths
0.95
CY2019Q2 psx Non Monetary Notional Amount Of Price Risk Derivative Instruments Not Designated As Hedging Instruments In Short Position
NonMonetaryNotionalAmountOfPriceRiskDerivativeInstrumentsNotDesignatedAsHedgingInstrumentsInShortPosition
34 MMBbls
CY2018Q4 psx Non Monetary Notional Amount Of Price Risk Derivative Instruments Not Designated As Hedging Instruments In Short Position
NonMonetaryNotionalAmountOfPriceRiskDerivativeInstrumentsNotDesignatedAsHedgingInstrumentsInShortPosition
17 MMBbls
CY2019Q2 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
91000000 USD
CY2019Q2 us-gaap Fair Value Liabilities Level2 To Level1 Transfers Amount
FairValueLiabilitiesLevel2ToLevel1TransfersAmount
51000000 USD
CY2019Q2 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
945000000 USD
CY2019Q2 us-gaap Derivative Liability Fair Value Gross Asset
DerivativeLiabilityFairValueGrossAsset
945000000 USD
CY2019Q2 us-gaap Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral
22000000 USD
CY2019Q2 psx Difference In Carrying Value And Fair Value Liability
DifferenceInCarryingValueAndFairValueLiability
-998000000 USD
CY2018Q4 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
1075000000 USD
CY2018Q4 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral
89000000 USD
CY2018Q4 us-gaap Derivative Liability Fair Value Gross Asset
DerivativeLiabilityFairValueGrossAsset
1075000000 USD
CY2018Q4 us-gaap Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral
0 USD
CY2018Q4 psx Difference In Carrying Value And Fair Value Liability
DifferenceInCarryingValueAndFairValueLiability
49000000 USD
CY2019Q2 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
185000000 USD
CY2019Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1327000000 USD
CY2019Q2 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
185000000 USD
CY2019Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1327000000 USD
CY2019Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
15000000 USD
CY2019Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
467000000 USD
CY2019Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
159000000 USD
CY2019Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
817000000 USD
CY2019Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
174000000 USD
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
1284000000 USD
CY2019Q2 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
10000000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
267000000 USD
CY2019Q2 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
19000000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
435000000 USD
CY2019Q2 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
18000000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
215000000 USD
CY2019Q2 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
16000000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
139000000 USD
CY2019Q2 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
16000000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
88000000 USD
CY2019Q2 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
137000000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
310000000 USD
CY2019Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
216000000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1454000000 USD
CY2019Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
42000000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
170000000 USD
CY2019Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
174000000 USD
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
1284000000 USD
CY2019Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
5000000 USD
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
10000000 USD
CY2019Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
1000000 USD
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
3000000 USD
CY2019Q2 psx Finance Lease Cost
FinanceLeaseCost
6000000 USD
psx Finance Lease Cost
FinanceLeaseCost
13000000 USD
CY2019Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
131000000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
260000000 USD
CY2019Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
32000000 USD
us-gaap Short Term Lease Cost
ShortTermLeaseCost
64000000 USD
CY2019Q2 us-gaap Variable Lease Cost
VariableLeaseCost
5000000 USD
us-gaap Variable Lease Cost
VariableLeaseCost
12000000 USD
CY2019Q2 us-gaap Sublease Income
SubleaseIncome
5000000 USD
us-gaap Sublease Income
SubleaseIncome
10000000 USD
CY2019Q2 us-gaap Lease Cost
LeaseCost
169000000 USD
us-gaap Lease Cost
LeaseCost
339000000 USD
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
3000000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
276000000 USD
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
10000000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
110000000 USD
CY2019Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P12Y10M24D
CY2019Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y8M12D
CY2019Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.038
CY2019Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.040
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-9000000 USD
us-gaap Tax Cuts And Jobs Act Of2017 Reclassification From Aoci To Retained Earnings Tax Effect
TaxCutsAndJobsActOf2017ReclassificationFromAociToRetainedEarningsTaxEffect
-89000000 USD
CY2018Q1 psx Numberof Shares Authorizedtobe Repurchased
NumberofSharesAuthorizedtobeRepurchased
35000000 shares
CY2018Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
3280000000 USD
CY2018Q1 us-gaap Accelerated Share Repurchases Initial Price Paid Per Share
AcceleratedShareRepurchasesInitialPricePaidPerShare
93.725
CY2019Q2 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
796000000 USD
CY2018Q2 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
944000000 USD
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
1479000000 USD
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
1762000000 USD
CY2019Q2 psx Related Party Transaction Purchases From Transactions With Related Party
RelatedPartyTransactionPurchasesFromTransactionsWithRelatedParty
3260000000 USD
CY2018Q2 psx Related Party Transaction Purchases From Transactions With Related Party
RelatedPartyTransactionPurchasesFromTransactionsWithRelatedParty
3313000000 USD
psx Related Party Transaction Purchases From Transactions With Related Party
RelatedPartyTransactionPurchasesFromTransactionsWithRelatedParty
5928000000 USD
psx Related Party Transaction Purchases From Transactions With Related Party
RelatedPartyTransactionPurchasesFromTransactionsWithRelatedParty
5867000000 USD
CY2019Q2 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
8000000 USD
CY2018Q2 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
16000000 USD
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
17000000 USD
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
32000000 USD
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
27847000000 USD
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
28980000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
50950000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
52575000000 USD
CY2019Q2 us-gaap Income Loss Including Portion Attributable To Noncontrolling Interest
IncomeLossIncludingPortionAttributableToNoncontrollingInterest
1829000000 USD
CY2018Q2 us-gaap Income Loss Including Portion Attributable To Noncontrolling Interest
IncomeLossIncludingPortionAttributableToNoncontrollingInterest
1835000000 USD
us-gaap Income Loss Including Portion Attributable To Noncontrolling Interest
IncomeLossIncludingPortionAttributableToNoncontrollingInterest
2169000000 USD
us-gaap Income Loss Including Portion Attributable To Noncontrolling Interest
IncomeLossIncludingPortionAttributableToNoncontrollingInterest
2552000000 USD
CY2019Q2 us-gaap Assets
Assets
57781000000 USD
CY2018Q4 us-gaap Assets
Assets
54302000000 USD
CY2019Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.18
CY2018Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.23
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.22
CY2019Q2 us-gaap Income Tax Reconciliation Repatriation Of Foreign Earnings
IncomeTaxReconciliationRepatriationOfForeignEarnings
-45000000 USD
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
27847000000 USD
CY2019Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
648000000 USD
CY2019Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
23000000 USD
CY2019Q2 psx Revenues And Other Income
RevenuesAndOtherIncome
28518000000 USD
CY2019Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
24554000000 USD
CY2019Q2 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
1165000000 USD
CY2019Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
408000000 USD
CY2019Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
334000000 USD
CY2019Q2 us-gaap Asset Impairment Charges
AssetImpairmentCharges
2000000 USD
CY2019Q2 psx Taxes Other Than Income Taxes
TaxesOtherThanIncomeTaxes
97000000 USD
CY2019Q2 us-gaap Accretion Expense Including Asset Retirement Obligations
AccretionExpenseIncludingAssetRetirementObligations
5000000 USD
CY2019Q2 us-gaap Interest And Debt Expense
InterestAndDebtExpense
115000000 USD
CY2019Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-9000000 USD
CY2019Q2 psx Cost And Expenses
CostAndExpenses
26689000000 USD
CY2019Q2 us-gaap Income Loss Including Portion Attributable To Noncontrolling Interest
IncomeLossIncludingPortionAttributableToNoncontrollingInterest
1829000000 USD
CY2019Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
325000000 USD
CY2019Q2 us-gaap Profit Loss
ProfitLoss
1504000000 USD
CY2019Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
80000000 USD
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
1424000000 USD
CY2019Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
1446000000 USD
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
28980000000 USD
CY2018Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
743000000 USD
CY2018Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
13000000 USD
CY2018Q2 psx Revenues And Other Income
RevenuesAndOtherIncome
29736000000 USD
CY2018Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
25747000000 USD
CY2018Q2 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
1143000000 USD
CY2018Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
432000000 USD
CY2018Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
337000000 USD
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