$PSX
Phillips 66

2023 Q1 Form 10-Q Financial Statement

#000153470123000080 Filed on May 04, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q1
Revenue $34.40B $36.18B
YoY Change -4.93% 67.29%
Cost Of Revenue $29.34B $33.50B
YoY Change -12.4% 66.93%
Gross Profit $5.055B $2.684B
YoY Change 88.34% 71.83%
Gross Profit Margin 14.7% 7.42%
Selling, General & Admin $605.0M $433.0M
YoY Change 39.72% 6.13%
% of Gross Profit 11.97% 16.13%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $476.0M $338.0M
YoY Change 40.83% -5.06%
% of Gross Profit 9.42% 12.59%
Operating Expenses $605.0M $433.0M
YoY Change 39.72% 6.13%
Operating Profit $4.450B $2.251B
YoY Change 97.69% 95.06%
Interest Expense $394.0M $710.0M
YoY Change -44.51% 410.79%
% of Operating Profit 8.85% 31.54%
Other Income/Expense, Net $48.00M -$143.0M
YoY Change -133.57% -1053.33%
Pretax Income $2.651B $828.0M
YoY Change 220.17% -207.39%
Income Tax $574.0M $171.0M
% Of Pretax Income 21.65% 20.65%
Net Earnings $1.961B $582.0M
YoY Change 236.94% -188.99%
Net Earnings / Revenue 5.7% 1.61%
Basic Earnings Per Share $4.21 $1.29
Diluted Earnings Per Share $4.20 $1.29
COMMON SHARES
Basic Shares Outstanding 463.9M shares 449.3M shares
Diluted Shares Outstanding 467.0M shares 450.0M shares

Balance Sheet

Concept 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.965B $3.335B
YoY Change 108.85% 146.85%
Cash & Equivalents $6.965B $3.335B
Short-Term Investments
Other Short-Term Assets $934.0M $1.534B
YoY Change -39.11% 143.88%
Inventory $5.445B $4.530B
Prepaid Expenses
Receivables $9.326B $10.46B
Other Receivables $0.00 $0.00
Total Short-Term Assets $22.67B $19.85B
YoY Change 14.18% 37.7%
LONG-TERM ASSETS
Property, Plant & Equipment $35.11B $22.33B
YoY Change 57.22% -5.68%
Goodwill $1.486B $1.484B
YoY Change 0.13% 4.14%
Intangibles $793.0M $819.0M
YoY Change -3.17% -2.03%
Long-Term Investments $15.29B $14.47B
YoY Change 5.7% 8.14%
Other Assets $1.913B $1.683B
YoY Change 13.67% -4.59%
Total Long-Term Assets $54.59B $40.78B
YoY Change 33.86% -0.72%
TOTAL ASSETS
Total Short-Term Assets $22.67B $19.85B
Total Long-Term Assets $54.59B $40.78B
Total Assets $77.26B $60.64B
YoY Change 27.42% 9.27%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.923B $12.05B
YoY Change -17.63% 60.97%
Accrued Expenses $3.311B $2.945B
YoY Change 12.43% 10.34%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $825.0M $1.474B
YoY Change -44.03% 185.66%
Total Short-Term Liabilities $14.71B $17.60B
YoY Change -16.46% 53.99%
LONG-TERM LIABILITIES
Long-Term Debt $17.66B $12.96B
YoY Change 36.27% -13.06%
Other Long-Term Liabilities $3.168B $2.690B
YoY Change 17.77% -14.74%
Total Long-Term Liabilities $20.83B $15.65B
YoY Change 33.09% -13.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.71B $17.60B
Total Long-Term Liabilities $20.83B $15.65B
Total Liabilities $42.35B $38.52B
YoY Change 9.94% 9.93%
SHAREHOLDERS EQUITY
Retained Earnings $26.90B $16.39B
YoY Change 64.13% 6.1%
Common Stock $19.80B $19.67B
YoY Change 0.65% -3.68%
Preferred Stock
YoY Change
Treasury Stock (at cost) $13.74B
YoY Change -19.75%
Treasury Stock Shares 169.9M shares
Shareholders Equity $30.25B $21.82B
YoY Change
Total Liabilities & Shareholders Equity $77.26B $60.64B
YoY Change 27.42% 9.27%

Cashflow Statement

Concept 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income $1.961B $582.0M
YoY Change 236.94% -188.99%
Depreciation, Depletion And Amortization $476.0M $338.0M
YoY Change 40.83% -5.06%
Cash From Operating Activities $1.199B $1.136B
YoY Change 5.55% 319.19%
INVESTING ACTIVITIES
Capital Expenditures $378.0M -$370.0M
YoY Change -202.16% 11.78%
Acquisitions
YoY Change
Other Investing Activities $24.00M $74.00M
YoY Change -67.57% 89.74%
Cash From Investing Activities -$265.0M -$428.0M
YoY Change -38.08% -8.35%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $23.00M
YoY Change -215.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$117.0M -$512.0M
YoY Change -77.15% -45.82%
NET CHANGE
Cash From Operating Activities $1.199B $1.136B
Cash From Investing Activities -$265.0M -$428.0M
Cash From Financing Activities -$117.0M -$512.0M
Net Change In Cash $832.0M $188.0M
YoY Change 342.55% -116.17%
FREE CASH FLOW
Cash From Operating Activities $1.199B $1.136B
Capital Expenditures $378.0M -$370.0M
Free Cash Flow $821.0M $1.506B
YoY Change -45.48% 150.17%

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Interim Financial InformationThe 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 2022 Annual Report on Form 10-K. The results of operations for the three months ended March 31, 2023, are not necessarily indicative of the results expected for the full year.
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CY2022Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-78000000 usd
CY2022Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-69000000 usd
CY2023Q1 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
1304000000 usd
CY2022Q1 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
1340000000 usd
CY2023Q1 psx Related Party Transaction Purchases From Transactions With Related Party
RelatedPartyTransactionPurchasesFromTransactionsWithRelatedParty
3699000000 usd
CY2022Q1 psx Related Party Transaction Purchases From Transactions With Related Party
RelatedPartyTransactionPurchasesFromTransactionsWithRelatedParty
4681000000 usd
CY2023Q1 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
72000000 usd
CY2022Q1 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
70000000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
34396000000 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
36179000000 usd
CY2023Q1 us-gaap Income Loss Including Portion Attributable To Noncontrolling Interest
IncomeLossIncludingPortionAttributableToNoncontrollingInterest
2651000000 usd
CY2022Q1 us-gaap Income Loss Including Portion Attributable To Noncontrolling Interest
IncomeLossIncludingPortionAttributableToNoncontrollingInterest
828000000 usd
CY2023Q1 us-gaap Assets
Assets
77262000000 usd
CY2022Q4 us-gaap Assets
Assets
76442000000 usd
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.22
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.21
CY2023Q1 us-gaap Restructuring Charges
RestructuringCharges
35000000 usd

Files In Submission

Name View Source Status
psx-20230331_cal.xml Edgar Link unprocessable
0001534701-23-000080-index-headers.html Edgar Link pending
0001534701-23-000080-index.html Edgar Link pending
0001534701-23-000080.txt Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
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FilingSummary.xml Edgar Link unprocessable
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psx-20230331.xsd Edgar Link pending
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