Analysis of Reportable Segments
Phillips 66 operates in 4 segments: Midstream; Chemicals; Refining; and Marketing and Specialties (M&S).
Segment Profit Margin
Phillips 66, profit margin by reportable segment
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Midstream | 9.63% | 14.24% | 9.64% | 9.54% | 2.01% |
| Chemicals | 29,300.00% | 20,500.00% | 14,320.00% | 16,780.00% | 19,240.00% |
| Refining | 2.59% | 5.45% | 3.17% | 0.84% | 4.03% |
| Marketing and Specialties (M&S) | 1.95% | 2.12% | 1.39% | 1.96% | 1.59% |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Midstream | Midstream segment profit margin ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019. |
| Chemicals | Chemicals segment profit margin ratio improved from 2017 to 2018 and from 2018 to 2019. | |
| Refining | Refining segment profit margin ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019. | |
| Marketing and Specialties (M&S) | Marketing and Specialties (M&S) segment profit margin ratio improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019. |
Segment Profit Margin: Midstream
Phillips 66; Midstream; segment profit margin calculation
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Income (loss) before income taxes | 684) | 1,181) | 638) | 403) | 74) |
| Sales and other operating revenues | 7,103) | 8,293) | 6,620) | 4,226) | 3,676) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 9.63% | 14.24% | 9.64% | 9.54% | 2.01% |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Segment profit margin = 100 × Income (loss) before income taxes ÷ Sales and other operating revenues
= 100 × 684 ÷ 7,103 = 9.63%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Midstream | Midstream segment profit margin ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019. |
Segment Profit Margin: Chemicals
Phillips 66; Chemicals; segment profit margin calculation
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Income (loss) before income taxes | 879) | 1,025) | 716) | 839) | 962) |
| Sales and other operating revenues | 3) | 5) | 5) | 5) | 5) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 29,300.00% | 20,500.00% | 14,320.00% | 16,780.00% | 19,240.00% |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Segment profit margin = 100 × Income (loss) before income taxes ÷ Sales and other operating revenues
= 100 × 879 ÷ 3 = 29,300.00%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Chemicals | Chemicals segment profit margin ratio improved from 2017 to 2018 and from 2018 to 2019. |
Segment Profit Margin: Refining
Phillips 66; Refining; segment profit margin calculation
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Income (loss) before income taxes | 1,986) | 4,535) | 2,076) | 435) | 2,555) |
| Sales and other operating revenues | 76,792) | 83,140) | 65,494) | 52,068) | 63,470) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 2.59% | 5.45% | 3.17% | 0.84% | 4.03% |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Segment profit margin = 100 × Income (loss) before income taxes ÷ Sales and other operating revenues
= 100 × 1,986 ÷ 76,792 = 2.59%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Refining | Refining segment profit margin ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019. |
Segment Profit Margin: Marketing and Specialties (M&S)
Phillips 66; Marketing and Specialties (M&S); segment profit margin calculation
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Income (loss) before income taxes | 1,433) | 1,557) | 1,020) | 1,261) | 1,187) |
| Sales and other operating revenues | 73,616) | 73,414) | 73,565) | 64,476) | 74,591) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 1.95% | 2.12% | 1.39% | 1.96% | 1.59% |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Segment profit margin = 100 × Income (loss) before income taxes ÷ Sales and other operating revenues
= 100 × 1,433 ÷ 73,616 = 1.95%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Marketing and Specialties (M&S) | Marketing and Specialties (M&S) segment profit margin ratio improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019. |
Segment Return on Assets (Segment ROA)
Phillips 66, ROA by reportable segment
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Midstream | 4.35% | 8.24% | 4.82% | 3.14% | 0.67% |
| Chemicals | 14.07% | 16.44% | 11.50% | 14.46% | 18.37% |
| Refining | 7.90% | 19.52% | 8.72% | 1.91% | 11.62% |
| Marketing and Specialties (M&S) | 16.55% | 23.69% | 14.36% | 20.25% | 21.08% |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Midstream | Midstream segment ROA improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019. |
| Chemicals | Chemicals segment ROA improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019. | |
| Refining | Refining segment ROA improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019. | |
| Marketing and Specialties (M&S) | Marketing and Specialties (M&S) segment ROA improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019 not reaching 2017 level. |
Segment ROA: Midstream
Phillips 66; Midstream; segment ROA calculation
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Income (loss) before income taxes | 684) | 1,181) | 638) | 403) | 74) |
| Total assets | 15,716) | 14,329) | 13,231) | 12,832) | 11,043) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 4.35% | 8.24% | 4.82% | 3.14% | 0.67% |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Segment ROA = 100 × Income (loss) before income taxes ÷ Total assets
= 100 × 684 ÷ 15,716 = 4.35%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Midstream | Midstream segment ROA improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019. |
Segment ROA: Chemicals
Phillips 66; Chemicals; segment ROA calculation
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Income (loss) before income taxes | 879) | 1,025) | 716) | 839) | 962) |
| Total assets | 6,249) | 6,235) | 6,226) | 5,802) | 5,237) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 14.07% | 16.44% | 11.50% | 14.46% | 18.37% |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Segment ROA = 100 × Income (loss) before income taxes ÷ Total assets
= 100 × 879 ÷ 6,249 = 14.07%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Chemicals | Chemicals segment ROA improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019. |
Segment ROA: Refining
Phillips 66; Refining; segment ROA calculation
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Income (loss) before income taxes | 1,986) | 4,535) | 2,076) | 435) | 2,555) |
| Total assets | 25,150) | 23,230) | 23,820) | 22,825) | 21,993) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 7.90% | 19.52% | 8.72% | 1.91% | 11.62% |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Segment ROA = 100 × Income (loss) before income taxes ÷ Total assets
= 100 × 1,986 ÷ 25,150 = 7.90%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Refining | Refining segment ROA improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019. |
Segment ROA: Marketing and Specialties (M&S)
Phillips 66; Marketing and Specialties (M&S); segment ROA calculation
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Income (loss) before income taxes | 1,433) | 1,557) | 1,020) | 1,261) | 1,187) |
| Total assets | 8,659) | 6,572) | 7,103) | 6,227) | 5,631) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 16.55% | 23.69% | 14.36% | 20.25% | 21.08% |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Segment ROA = 100 × Income (loss) before income taxes ÷ Total assets
= 100 × 1,433 ÷ 8,659 = 16.55%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Marketing and Specialties (M&S) | Marketing and Specialties (M&S) segment ROA improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019 not reaching 2017 level. |
Segment Asset Turnover
Phillips 66, asset turnover by reportable segment
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Midstream | 0.45 | 0.58 | 0.50 | 0.33 | 0.33 |
| Chemicals | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Refining | 3.05 | 3.58 | 2.75 | 2.28 | 2.89 |
| Marketing and Specialties (M&S) | 8.50 | 11.17 | 10.36 | 10.35 | 13.25 |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Midstream | Midstream segment asset turnover ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019. |
| Chemicals | Chemicals segment asset turnover ratio deteriorated from 2017 to 2018 and from 2018 to 2019. | |
| Refining | Refining segment asset turnover ratio improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019 not reaching 2017 level. | |
| Marketing and Specialties (M&S) | Marketing and Specialties (M&S) segment asset turnover ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019. |
Segment Asset Turnover: Midstream
Phillips 66; Midstream; segment asset turnover calculation
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Sales and other operating revenues | 7,103) | 8,293) | 6,620) | 4,226) | 3,676) |
| Total assets | 15,716) | 14,329) | 13,231) | 12,832) | 11,043) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 0.45 | 0.58 | 0.50 | 0.33 | 0.33 |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Segment asset turnover = Sales and other operating revenues ÷ Total assets
= 7,103 ÷ 15,716 = 0.45
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Midstream | Midstream segment asset turnover ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019. |
Segment Asset Turnover: Chemicals
Phillips 66; Chemicals; segment asset turnover calculation
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Sales and other operating revenues | 3) | 5) | 5) | 5) | 5) |
| Total assets | 6,249) | 6,235) | 6,226) | 5,802) | 5,237) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Segment asset turnover = Sales and other operating revenues ÷ Total assets
= 3 ÷ 6,249 = 0.00
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Chemicals | Chemicals segment asset turnover ratio deteriorated from 2017 to 2018 and from 2018 to 2019. |
Segment Asset Turnover: Refining
Phillips 66; Refining; segment asset turnover calculation
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Sales and other operating revenues | 76,792) | 83,140) | 65,494) | 52,068) | 63,470) |
| Total assets | 25,150) | 23,230) | 23,820) | 22,825) | 21,993) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 3.05 | 3.58 | 2.75 | 2.28 | 2.89 |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Segment asset turnover = Sales and other operating revenues ÷ Total assets
= 76,792 ÷ 25,150 = 3.05
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Refining | Refining segment asset turnover ratio improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019 not reaching 2017 level. |
Segment Asset Turnover: Marketing and Specialties (M&S)
Phillips 66; Marketing and Specialties (M&S); segment asset turnover calculation
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Sales and other operating revenues | 73,616) | 73,414) | 73,565) | 64,476) | 74,591) |
| Total assets | 8,659) | 6,572) | 7,103) | 6,227) | 5,631) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 8.50 | 11.17 | 10.36 | 10.35 | 13.25 |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Segment asset turnover = Sales and other operating revenues ÷ Total assets
= 73,616 ÷ 8,659 = 8.50
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Marketing and Specialties (M&S) | Marketing and Specialties (M&S) segment asset turnover ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019. |
Segment Capital Expenditures to Depreciation
Phillips 66, capital expenditures to depreciation by reportable segment
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Midstream | 1.97 | 4.75 | 2.58 | 6.67 | 34.82 |
| Chemicals | — | — | — | — | — |
| Refining | 1.17 | 0.98 | 1.02 | 1.49 | 1.44 |
| Marketing and Specialties (M&S) | 3.63 | 1.10 | 0.93 | 0.92 | 1.22 |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Midstream | Midstream segment capital expenditures to depreciation ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019. |
| Chemicals | ||
| Refining | Refining segment capital expenditures to depreciation ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 exceeding 2017 level. | |
| Marketing and Specialties (M&S) | Marketing and Specialties (M&S) segment capital expenditures to depreciation ratio improved from 2017 to 2018 and from 2018 to 2019. |
Segment Capital Expenditures to Depreciation: Midstream
Phillips 66; Midstream; segment capital expenditures to depreciation calculation
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures and investments | 2,292) | 1,548) | 771) | 1,453) | 4,457) |
| Depreciation, amortization and impairments | 1,162) | 326) | 299) | 218) | 128) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.97 | 4.75 | 2.58 | 6.67 | 34.82 |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Segment capital expenditures to depreciation = Capital expenditures and investments ÷ Depreciation, amortization and impairments
= 2,292 ÷ 1,162 = 1.97
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Midstream | Midstream segment capital expenditures to depreciation ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019. |
Segment Capital Expenditures to Depreciation: Chemicals
Phillips 66; Chemicals; segment capital expenditures to depreciation calculation
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures and investments | —) | —) | —) | —) | —) |
| Depreciation, amortization and impairments | —) | —) | —) | —) | —) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | — | — | — | — | — |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Segment capital expenditures to depreciation = Capital expenditures and investments ÷ Depreciation, amortization and impairments
= 0 ÷ 0 = —
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Chemicals |
Segment Capital Expenditures to Depreciation: Refining
Phillips 66; Refining; segment capital expenditures to depreciation calculation
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures and investments | 1,001) | 826) | 853) | 1,149) | 1,069) |
| Depreciation, amortization and impairments | 857) | 841) | 838) | 770) | 741) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.17 | 0.98 | 1.02 | 1.49 | 1.44 |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Segment capital expenditures to depreciation = Capital expenditures and investments ÷ Depreciation, amortization and impairments
= 1,001 ÷ 857 = 1.17
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Refining | Refining segment capital expenditures to depreciation ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 exceeding 2017 level. |
Segment Capital Expenditures to Depreciation: Marketing and Specialties (M&S)
Phillips 66; Marketing and Specialties (M&S); segment capital expenditures to depreciation calculation
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures and investments | 374) | 125) | 108) | 98) | 122) |
| Depreciation, amortization and impairments | 103) | 114) | 116) | 107) | 100) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 3.63 | 1.10 | 0.93 | 0.92 | 1.22 |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Segment capital expenditures to depreciation = Capital expenditures and investments ÷ Depreciation, amortization and impairments
= 374 ÷ 103 = 3.63
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Marketing and Specialties (M&S) | Marketing and Specialties (M&S) segment capital expenditures to depreciation ratio improved from 2017 to 2018 and from 2018 to 2019. |
Sales and other operating revenues
Phillips 66, sales and other operating revenues by reportable segment
US$ in millions
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Midstream | 7,103) | 8,293) | 6,620) | 4,226) | 3,676) |
| Chemicals | 3) | 5) | 5) | 5) | 5) |
| Refining | 76,792) | 83,140) | 65,494) | 52,068) | 63,470) |
| Marketing and Specialties (M&S) | 73,616) | 73,414) | 73,565) | 64,476) | 74,591) |
| Intersegment eliminations | (50,249) | (53,418) | (43,359) | (36,528) | (42,797) |
| Corporate and other | 28) | 27) | 29) | 32) | 30) |
| Consolidated | 107,293) | 111,461) | 102,354) | 84,279) | 98,975) |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
Depreciation, amortization and impairments
Phillips 66, depreciation, amortization and impairments by reportable segment
US$ in millions
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Midstream | 1,162) | 326) | 299) | 218) | 128) |
| Chemicals | —) | —) | —) | —) | —) |
| Refining | 857) | 841) | 838) | 770) | 741) |
| Marketing and Specialties (M&S) | 103) | 114) | 116) | 107) | 100) |
| Corporate and other | 80) | 83) | 89) | 78) | 116) |
| Consolidated | 2,202) | 1,364) | 1,342) | 1,173) | 1,085) |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
Income (loss) before income taxes
Phillips 66, income (loss) before income taxes by reportable segment
US$ in millions
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Midstream | 684) | 1,181) | 638) | 403) | 74) |
| Chemicals | 879) | 1,025) | 716) | 839) | 962) |
| Refining | 1,986) | 4,535) | 2,076) | 435) | 2,555) |
| Marketing and Specialties (M&S) | 1,433) | 1,557) | 1,020) | 1,261) | 1,187) |
| Corporate and other | (804) | (853) | (895) | (747) | (498) |
| Consolidated | 4,178) | 7,445) | 3,555) | 2,191) | 4,280) |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
Total assets
Phillips 66, total assets by reportable segment
US$ in millions
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Midstream | 15,716) | 14,329) | 13,231) | 12,832) | 11,043) |
| Chemicals | 6,249) | 6,235) | 6,226) | 5,802) | 5,237) |
| Refining | 25,150) | 23,230) | 23,820) | 22,825) | 21,993) |
| Marketing and Specialties (M&S) | 8,659) | 6,572) | 7,103) | 6,227) | 5,631) |
| Corporate and other | 2,946) | 3,936) | 3,991) | 3,967) | 4,676) |
| Consolidated | 58,720) | 54,302) | 54,371) | 51,653) | 48,580) |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
Capital expenditures and investments
Phillips 66, capital expenditures and investments by reportable segment
US$ in millions
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Midstream | 2,292) | 1,548) | 771) | 1,453) | 4,457) |
| Chemicals | —) | —) | —) | —) | —) |
| Refining | 1,001) | 826) | 853) | 1,149) | 1,069) |
| Marketing and Specialties (M&S) | 374) | 125) | 108) | 98) | 122) |
| Corporate and other | 206) | 140) | 100) | 144) | 116) |
| Consolidated | 3,873) | 2,639) | 1,832) | 2,844) | 5,764) |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).