$PSX
Phillips 66

2024 Q3 Form 10-Q Financial Statement

#000153470124000166 Filed on October 29, 2024

View on sec.gov

Income Statement

Concept 2024 Q3
Revenue $35.53B
YoY Change -10.38%
Cost Of Revenue $32.19B
YoY Change -6.22%
Gross Profit $3.334B
YoY Change -37.25%
Gross Profit Margin 9.38%
Selling, General & Admin $1.194B
YoY Change 78.48%
% of Gross Profit 35.81%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $543.0M
YoY Change 11.27%
% of Gross Profit 16.29%
Operating Expenses $1.194B
YoY Change 78.48%
Operating Profit $2.140B
YoY Change -53.92%
Interest Expense $319.0M
YoY Change -7.27%
% of Operating Profit 14.91%
Other Income/Expense, Net $84.00M
YoY Change 460.0%
Pretax Income $413.0M
YoY Change -85.32%
Income Tax $44.00M
% Of Pretax Income 10.65%
Net Earnings $346.0M
YoY Change -83.5%
Net Earnings / Revenue 0.97%
Basic Earnings Per Share $0.82
Diluted Earnings Per Share $0.82
COMMON SHARES
Basic Shares Outstanding 417.3M shares
Diluted Shares Outstanding 418.8M shares

Balance Sheet

Concept 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.637B
YoY Change -53.74%
Cash & Equivalents $1.637B
Short-Term Investments
Other Short-Term Assets $1.193B
YoY Change -4.48%
Inventory $6.037B
Prepaid Expenses
Receivables $10.44B
Other Receivables $0.00
Total Short-Term Assets $19.31B
YoY Change -14.18%
LONG-TERM ASSETS
Property, Plant & Equipment $35.60B
YoY Change 0.18%
Goodwill $1.574B
YoY Change 1.22%
Intangibles $1.157B
YoY Change 24.95%
Long-Term Investments $15.22B
YoY Change -0.61%
Other Assets $2.223B
YoY Change 13.42%
Total Long-Term Assets $55.77B
YoY Change 0.87%
TOTAL ASSETS
Total Short-Term Assets $19.31B
Total Long-Term Assets $55.77B
Total Assets $75.08B
YoY Change -3.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.91B
YoY Change -14.19%
Accrued Expenses $3.494B
YoY Change -7.88%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $1.522B
YoY Change 66.7%
Total Short-Term Liabilities $15.92B
YoY Change -8.58%
LONG-TERM LIABILITIES
Long-Term Debt $18.48B
YoY Change -0.3%
Other Long-Term Liabilities $3.641B
YoY Change 39.18%
Total Long-Term Liabilities $22.12B
YoY Change 4.59%
TOTAL LIABILITIES
Total Short-Term Liabilities $15.92B
Total Long-Term Liabilities $22.12B
Total Liabilities $45.30B
YoY Change -1.09%
SHAREHOLDERS EQUITY
Retained Earnings $31.24B
YoY Change 4.99%
Common Stock $19.77B
YoY Change 0.8%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $28.72B
YoY Change
Total Liabilities & Shareholders Equity $75.08B
YoY Change -3.48%

Cashflow Statement

Concept 2024 Q3
OPERATING ACTIVITIES
Net Income $346.0M
YoY Change -83.5%
Depreciation, Depletion And Amortization $543.0M
YoY Change 11.27%
Cash From Operating Activities $1.132B
YoY Change -57.84%
INVESTING ACTIVITIES
Capital Expenditures $358.0M
YoY Change -58.13%
Acquisitions
YoY Change
Other Investing Activities -$1.422B
YoY Change -484.32%
Cash From Investing Activities -$1.780B
YoY Change 267.01%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -192.0M
YoY Change -88.41%
NET CHANGE
Cash From Operating Activities 1.132B
Cash From Investing Activities -1.780B
Cash From Financing Activities -192.0M
Net Change In Cash -840.0M
YoY Change -254.7%
FREE CASH FLOW
Cash From Operating Activities $1.132B
Capital Expenditures $358.0M
Free Cash Flow $774.0M
YoY Change -57.7%

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Interim Financial Information<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10.5pt;font-weight:400;line-height:120%">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 2023 Annual Report on Form 10-K. The results of operations for the three and nine months ended September 30, 2024, are not necessarily indicative of the results expected for the full year. </span></div>Certain prior period financial information has been reclassified and recast for comparability. See Note 19—Cash Flow Information and Note 21—Segment Disclosures and Related Information, for additional information.
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Interim Financial Information<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10.5pt;font-weight:400;line-height:120%">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 2023 Annual Report on Form 10-K. The results of operations for the three and nine months ended September 30, 2024, are not necessarily indicative of the results expected for the full year. </span></div>Certain prior period financial information has been reclassified and recast for comparability. See Note 19—Cash Flow Information and Note 21—Segment Disclosures and Related Information, for additional information.
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