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Discontinued Operations (Tables) | 6 Months Ended
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Jun. 30, 2013
Discontinued Operations and Disposal Groups [Abstract] |
The carrying value of the major categories of assets and liabilities and operating results |
Sales and other operating revenues and income from discontinued operations related to Phillips 66 for the
three- and six-month periods ended June 30, 2012, were as follows:
|  | Millions of Dollars
|  | 2012
|  | Three Months Ended |  | Six Months Ended
|  | June 30 |  | June 30
Sales and other operating revenues from discontinued |  |  |  |  |  |
| operations | $ |  |  | 16,609 |  |  |  | 62,107
Income from discontinued operations before-tax | $ |  |  | 782 |  |  |  | 1,790
Income tax expense |  |  |  | 248 |  |  |  | 542
Income from discontinued operations | $ |  |  | 534 |  |  |  | 1,248
|  | Millions of Dollars
|  |  | June 30 |  | December 31
|  |  | 2013 |  | 2012
Assets |  |  |  |
Accounts and notes receivable | $ | 247 |  | 268
Accounts and notes receivable—related parties |  | 2 |  | 1
Inventories |  | 51 |  | 44
Prepaid expenses and other current assets |  | 127 |  | 220
| Total current assets of discontinued operations |  | 427 |  | 533
Investments and long-term receivables |  | 293 |  | 272
Loans and advances—related parties |  | 16 |  | 29
Net properties, plants and equipment |  | 6,959 |  | 6,629
Other assets |  | 2 |  | 4
Total assets of discontinued operations | $ | 7,697 |  | 7,467
Liabilities |  |  |  |
Accounts payable | $ | 417 |  | 471
Accrued income and other taxes |  | 37 |  | 125
| Total current liabilities of discontinued operations |  | 454 |  | 596
Asset retirement obligations and accrued environmental costs |  | 135 |  | 131
Deferred income taxes |  | 853 |  | 759
Total liabilities of discontinued operations | $ | 1,442 |  | 1,486
Sales and other operating revenues and income (loss) from discontinued operations related to the Disposition
Group were as follows:
|  | Millions of Dollars
|  | Three Months Ended |  | Six Months Ended
| June 30 | June 30
|  | 2013 |  | 2012 |  | 2013 |  | 2012
Sales and other operating revenues from discontinued |  |  |  |  |  |  |  |
| operations | $ | 210 |  | 324 |  | 539 |  | 715
Income from discontinued operations before-tax | $ | 85 |  | 144 |  | 205 |  | 346
Income tax expense |  | 88 |  | 109 |  | 79 |  | 249
Income (loss) from discontinued operations | $ | (3) |  | 35 |  | 126 |  | 97

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- Definition Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1510-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1474-107760 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=8077374&loc=d3e2443-110228 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 144 -Paragraph 43, 44, 45, 47, 48 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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