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Condensed Consolidating Financial Information (Tables) | 6 Months Ended
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Jun. 30, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Condensed Consolidating Statement of Income |
| Millions of Dollars
| Three Months Ended June 30, 2016
Statement of Income | Phillips 66 |  | Phillips 66 Company |  | All Other Subsidiaries |  | Consolidating Adjustments |  | Total Consolidated |
Revenues and Other Income |  |  |  |  |
Sales and other operating revenues | $ | — |  | 15,237 |  | 6,612 |  | — |  | 21,849 |
Equity in earnings of affiliates | 556 |  | 487 |  | 74 |  | (682 | ) | 435 |
Net gain on dispositions | — |  | — |  | 6 |  | — |  | 6 |
Other income | — |  | 9 |  | 8 |  | — |  | 17 |
Intercompany revenues | — |  | 219 |  | 2,126 |  | (2,345 | ) | — |
Total Revenues and Other Income | 556 |  | 15,952 |  | 8,826 |  | (3,027 | ) | 22,307 |
Costs and Expenses |  |  |  |  |
Purchased crude oil and products | — |  | 12,473 |  | 6,014 |  | (2,289 | ) | 16,198 |
Operating expenses | — |  | 781 |  | 223 |  | (10 | ) | 994 |
Selling, general and administrative expenses | 1 |  | 313 |  | 109 |  | (2 | ) | 421 |
Depreciation and amortization | — |  | 203 |  | 87 |  | — |  | 290 |
Impairments | — |  | — |  | 2 |  | — |  | 2 |
Taxes other than income taxes | — |  | 1,397 |  | 2,197 |  | — |  | 3,594 |
Accretion on discounted liabilities | — |  | 4 |  | 1 |  | — |  | 5 |
Interest and debt expense | 91 |  | 9 |  | 27 |  | (44 | ) | 83 |
Foreign currency transaction (gains) losses | — |  | — |  | — |  | — |  | — |
Total Costs and Expenses | 92 |  | 15,180 |  | 8,660 |  | (2,345 | ) | 21,587 |
Income before income taxes | 464 |  | 772 |  | 166 |  | (682 | ) | 720 |
Provision (benefit) for income taxes | (32 | ) | 216 |  | 20 |  | — |  | 204 |
Net Income | 496 |  | 556 |  | 146 |  | (682 | ) | 516 |
Less: net income attributable to noncontrolling interests | — |  | — |  | 20 |  | — |  | 20 |
Net Income Attributable to Phillips 66 | $ | 496 |  | 556 |  | 126 |  | (682 | ) | 496 |
Comprehensive Income | $ | 401 |  | 461 |  | 39 |  | (480 | ) | 421 |
| Millions of Dollars
| Three Months Ended June 30, 2015
Statement of Income | Phillips 66 |  | Phillips 66 Company |  | All Other Subsidiaries |  | Consolidating Adjustments |  | Total Consolidated |
Revenues and Other Income |  |  |  |  |
Sales and other operating revenues | $ | — |  | 19,903 |  | 8,609 |  | — |  | 28,512 |
Equity in earnings (losses) of affiliates | 1,071 |  | 694 |  | (151 | ) | (1,207 | ) | 407 |
Net gain (loss) on dispositions | — |  | (110 | ) | 249 |  | — |  | 139 |
Other income | — |  | 6 |  | 13 |  | — |  | 19 |
Intercompany revenues | — |  | 349 |  | 2,994 |  | (3,343 | ) | — |
Total Revenues and Other Income | 1,071 |  | 20,842 |  | 11,714 |  | (4,550 | ) | 29,077 |
Costs and Expenses |  |  |  |  |
Purchased crude oil and products | — |  | 16,472 |  | 9,088 |  | (3,307 | ) | 22,253 |
Operating expenses | — |  | 782 |  | 271 |  | (10 | ) | 1,043 |
Selling, general and administrative expenses | 1 |  | 303 |  | 103 |  | (1 | ) | 406 |
Depreciation and amortization | — |  | 214 |  | 60 |  | — |  | 274 |
Impairments | — |  | 2 |  | — |  | — |  | 2 |
Taxes other than income taxes | — |  | 1,435 |  | 2,114 |  | — |  | 3,549 |
Accretion on discounted liabilities | — |  | 4 |  | 2 |  | — |  | 6 |
Interest and debt expense | 90 |  | 6 |  | 8 |  | (25 | ) | 79 |
Foreign currency transaction (gains) losses | — |  | — |  | — |  | — |  | — |
Total Costs and Expenses | 91 |  | 19,218 |  | 11,646 |  | (3,343 | ) | 27,612 |
Income before income taxes | 980 |  | 1,624 |  | 68 |  | (1,207 | ) | 1,465 |
Provision (benefit) for income taxes | (32 | ) | 553 |  | (81 | ) | — |  | 440 |
Net Income | 1,012 |  | 1,071 |  | 149 |  | (1,207 | ) | 1,025 |
Less: net income attributable to noncontrolling interests | — |  | — |  | 13 |  | — |  | 13 |
Net Income Attributable to Phillips 66 | $ | 1,012 |  | 1,071 |  | 136 |  | (1,207 | ) | 1,012 |
Comprehensive Income | $ | 1,237 |  | 1,296 |  | 364 |  | (1,647 | ) | 1,250 |
| Millions of Dollars
| Six Months Ended June 30, 2016
Statement of Income | Phillips 66 |  | Phillips 66 Company |  | All Other Subsidiaries |  | Consolidating Adjustments |  | Total Consolidated |
Revenues and Other Income |  |  |  |  |
Sales and other operating revenues | $ | — |  | 26,935 |  | 12,323 |  | — |  | 39,258 |
Equity in earnings of affiliates | 1,003 |  | 885 |  | 160 |  | (1,280 | ) | 768 |
Net gain on dispositions | — |  | — |  | 6 |  | — |  | 6 |
Other income | — |  | 24 |  | 11 |  | — |  | 35 |
Intercompany revenues | — |  | 397 |  | 3,713 |  | (4,110 | ) | — |
Total Revenues and Other Income | 1,003 |  | 28,241 |  | 16,213 |  | (5,390 | ) | 40,067 |
Costs and Expenses |  |  |  |  |
Purchased crude oil and products | — |  | 21,467 |  | 10,659 |  | (3,998 | ) | 28,128 |
Operating expenses | — |  | 1,613 |  | 422 |  | (18 | ) | 2,017 |
Selling, general and administrative expenses | 4 |  | 600 |  | 208 |  | (5 | ) | 807 |
Depreciation and amortization | — |  | 403 |  | 167 |  | — |  | 570 |
Impairments | — |  | — |  | 2 |  | — |  | 2 |
Taxes other than income taxes | — |  | 2,741 |  | 4,314 |  | — |  | 7,055 |
Accretion on discounted liabilities | — |  | 8 |  | 2 |  | — |  | 10 |
Interest and debt expense | 184 |  | 17 |  | 57 |  | (89 | ) | 169 |
Foreign currency transaction (gains) losses | — |  | — |  | (7 | ) | — |  | (7 | )
Total Costs and Expenses | 188 |  | 26,849 |  | 15,824 |  | (4,110 | ) | 38,751 |
Income before income taxes | 815 |  | 1,392 |  | 389 |  | (1,280 | ) | 1,316 |
Provision (benefit) for income taxes | (66 | ) | 389 |  | 79 |  | — |  | 402 |
Net Income | 881 |  | 1,003 |  | 310 |  | (1,280 | ) | 914 |
Less: net income attributable to noncontrolling interests | — |  | — |  | 33 |  | — |  | 33 |
Net Income Attributable to Phillips 66 | $ | 881 |  | 1,003 |  | 277 |  | (1,280 | ) | 881 |
Comprehensive Income | $ | 782 |  | 904 |  | 191 |  | (1,062 | ) | 815 |
| Millions of Dollars
| Six Months Ended June 30, 2015
Statement of Income | Phillips 66 |  | Phillips 66 Company |  | All Other Subsidiaries |  | Consolidating Adjustments |  | Total Consolidated |
Revenues and Other Income |  |  |  |  |
Sales and other operating revenues | $ | — |  | 35,490 |  | 15,800 |  | — |  | 51,290 |
Equity in earnings (losses) of affiliates | 2,123 |  | 1,416 |  | (102 | ) | (2,574 | ) | 863 |
Net gain (loss) on dispositions | — |  | (115 | ) | 376 |  | — |  | 261 |
Other income | — |  | 65 |  | 24 |  | — |  | 89 |
Intercompany revenues | — |  | 489 |  | 5,143 |  | (5,632 | ) | — |
Total Revenues and Other Income | 2,123 |  | 37,345 |  | 21,241 |  | (8,206 | ) | 52,503 |
Costs and Expenses |  |  |  |  |
Purchased crude oil and products | — |  | 28,749 |  | 15,761 |  | (5,562 | ) | 38,948 |
Operating expenses | 4 |  | 1,656 |  | 501 |  | (24 | ) | 2,137 |
Selling, general and administrative expenses | 3 |  | 595 |  | 204 |  | (2 | ) | 800 |
Depreciation and amortization | — |  | 408 |  | 119 |  | — |  | 527 |
Impairments | — |  | 2 |  | — |  | — |  | 2 |
Taxes other than income taxes | — |  | 2,816 |  | 4,195 |  | — |  | 7,011 |
Accretion on discounted liabilities | — |  | 8 |  | 3 |  | — |  | 11 |
Interest and debt expense | 183 |  | 12 |  | 14 |  | (44 | ) | 165 |
Foreign currency transaction losses | — |  | — |  | 49 |  | — |  | 49 |
Total Costs and Expenses | 190 |  | 34,246 |  | 20,846 |  | (5,632 | ) | 49,650 |
Income before income taxes | 1,933 |  | 3,099 |  | 395 |  | (2,574 | ) | 2,853 |
Provision (benefit) for income taxes | (66 | ) | 976 |  | (79 | ) | — |  | 831 |
Net Income | 1,999 |  | 2,123 |  | 474 |  | (2,574 | ) | 2,022 |
Less: net income attributable to noncontrolling interests | — |  | — |  | 23 |  | — |  | 23 |
Net Income Attributable to Phillips 66 | $ | 1,999 |  | 2,123 |  | 451 |  | (2,574 | ) | 1,999 |
Comprehensive Income | $ | 2,061 |  | 2,185 |  | 513 |  | (2,675 | ) | 2,084 |
Condensed Consolidating Balance Sheet |
| Millions of Dollars
| June 30, 2016
Balance Sheet | Phillips 66 |  | Phillips 66 Company |  | All Other Subsidiaries |  | Consolidating Adjustments |  | Total Consolidated |
Assets |  |  |  |  |
Cash and cash equivalents | $ | — |  | 864 |  | 1,368 |  | — |  | 2,232 |
Accounts and notes receivable | 13 |  | 3,614 |  | 3,334 |  | (1,364 | ) | 5,597 |
Inventories | — |  | 2,657 |  | 1,336 |  | — |  | 3,993 |
Prepaid expenses and other current assets | 1 |  | 488 |  | 332 |  | — |  | 821 |
Total Current Assets | 14 |  | 7,623 |  | 6,370 |  | (1,364 | ) | 12,643 |
Investments and long-term receivables | 31,691 |  | 22,722 |  | 7,775 |  | (49,252 | ) | 12,936 |
Net properties, plants and equipment | — |  | 12,867 |  | 7,380 |  | — |  | 20,247 |
Goodwill | — |  | 3,040 |  | 235 |  | — |  | 3,275 |
Intangibles | — |  | 722 |  | 174 |  | — |  | 896 |
Other assets | 12 |  | 205 |  | 149 |  | (2 | ) | 364 |
Total Assets | $ | 31,717 |  | 47,179 |  | 22,083 |  | (50,618 | ) | 50,361 |
Liabilities and Equity |  |  |  |  |
Accounts payable | $ | — |  | 5,333 |  | 3,115 |  | (1,364 | ) | 7,084 |
Short-term debt | 1,498 |  | 28 |  | 6 |  | — |  | 1,532 |
Accrued income and other taxes | — |  | 378 |  | 534 |  | — |  | 912 |
Employee benefit obligations | — |  | 347 |  | 38 |  | — |  | 385 |
Other accruals | 59 |  | 339 |  | 89 |  | — |  | 487 |
Total Current Liabilities | 1,557 |  | 6,425 |  | 3,782 |  | (1,364 | ) | 10,400 |
Long-term debt | 5,917 |  | 146 |  | 1,267 |  | — |  | 7,330 |
Asset retirement obligations and accrued environmental costs | — |  | 499 |  | 173 |  | — |  | 672 |
Deferred income taxes | — |  | 4,420 |  | 1,815 |  | (2 | ) | 6,233 |
Employee benefit obligations | — |  | 1,146 |  | 197 |  | — |  | 1,343 |
Other liabilities and deferred credits | 1,372 |  | 2,895 |  | 3,705 |  | (7,655 | ) | 317 |
Total Liabilities | 8,846 |  | 15,531 |  | 10,939 |  | (9,021 | ) | 26,295 |
Common stock | 10,997 |  | 25,403 |  | 10,782 |  | (36,185 | ) | 10,997 |
Retained earnings | 12,626 |  | 6,997 |  | (624 | ) | (6,402 | ) | 12,597 |
Accumulated other comprehensive income (loss) | (752 | ) | (752 | ) | (238 | ) | 990 |  | (752 | )
Noncontrolling interests | — |  | — |  | 1,224 |  | — |  | 1,224 |
Total Liabilities and Equity | $ | 31,717 |  | 47,179 |  | 22,083 |  | (50,618 | ) | 50,361 |
| Millions of Dollars
| December 31, 2015
Balance Sheet | Phillips 66 |  | Phillips 66 Company |  | All Other Subsidiaries |  | Consolidating Adjustments |  | Total Consolidated |
Assets |  |  |  |  |
Cash and cash equivalents | $ | — |  | 575 |  | 2,499 |  | — |  | 3,074 |
Accounts and notes receivable | 14 |  | 3,643 |  | 2,217 |  | (701 | ) | 5,173 |
Inventories | — |  | 2,171 |  | 1,306 |  | — |  | 3,477 |
Prepaid expenses and other current assets | 2 |  | 382 |  | 148 |  | — |  | 532 |
Total Current Assets | 16 |  | 6,771 |  | 6,170 |  | (701 | ) | 12,256 |
Investments and long-term receivables | 33,315 |  | 24,068 |  | 7,395 |  | (52,635 | ) | 12,143 |
Net properties, plants and equipment | — |  | 12,651 |  | 7,070 |  | — |  | 19,721 |
Goodwill | — |  | 3,040 |  | 235 |  | — |  | 3,275 |
Intangibles | — |  | 726 |  | 180 |  | — |  | 906 |
Other assets | 16 |  | 154 |  | 113 |  | (4 | ) | 279 |
Total Assets | $ | 33,347 |  | 47,410 |  | 21,163 |  | (53,340 | ) | 48,580 |
Liabilities and Equity |  |  |  |  |
Accounts payable | $ | — |  | 4,015 |  | 2,341 |  | (701 | ) | 5,655 |
Short-term debt | — |  | 25 |  | 19 |  | — |  | 44 |
Accrued income and other taxes | — |  | 320 |  | 558 |  | — |  | 878 |
Employee benefit obligations | — |  | 528 |  | 48 |  | — |  | 576 |
Other accruals | 59 |  | 240 |  | 79 |  | — |  | 378 |
Total Current Liabilities | 59 |  | 5,128 |  | 3,045 |  | (701 | ) | 7,531 |
Long-term debt | 7,413 |  | 158 |  | 1,272 |  | — |  | 8,843 |
Asset retirement obligations and accrued environmental costs | — |  | 496 |  | 169 |  | — |  | 665 |
Deferred income taxes | — |  | 4,500 |  | 1,545 |  | (4 | ) | 6,041 |
Employee benefit obligations | — |  | 1,094 |  | 191 |  | — |  | 1,285 |
Other liabilities and deferred credits | 2,746 |  | 2,765 |  | 3,734 |  | (8,968 | ) | 277 |
Total Liabilities | 10,218 |  | 14,141 |  | 9,956 |  | (9,673 | ) | 24,642 |
Common stock | 11,405 |  | 25,404 |  | 10,688 |  | (36,092 | ) | 11,405 |
Retained earnings | 12,377 |  | 8,518 |  | (200 | ) | (8,347 | ) | 12,348 |
Accumulated other comprehensive income (loss) | (653 | ) | (653 | ) | (119 | ) | 772 |  | (653 | )
Noncontrolling interests | — |  | — |  | 838 |  | — |  | 838 |
Total Liabilities and Equity | $ | 33,347 |  | 47,410 |  | 21,163 |  | (53,340 | ) | 48,580 |
Condensed Consolidating Statement of Cash Flows |
| Millions of Dollars
| Six Months Ended June 30, 2016
Statement of Cash Flows | Phillips 66 |  | Phillips 66 Company |  | All Other Subsidiaries |  | Consolidating Adjustments |  | Total Consolidated |
Cash Flows From Operating Activities |  |  |  |  |
Net Cash Provided by Operating Activities | $ | 2,486 |  | 1,259 |  | 876 |  | (3,208 | ) | 1,413 |
Cash Flows From Investing Activities |  |  |  |  |
Capital expenditures and investments* | — |  | (685 | ) | (723 | ) | 38 |  | (1,370 | )
Proceeds from asset dispositions | — |  | 3 |  | 12 |  | — |  | 15 |
Intercompany lending activities | (1,190 | ) | 2,295 |  | (1,105 | ) | — |  | — |
Advances/loans—related parties | — |  | (75 | ) | (107 | ) | — |  | (182 | )
Other | — |  | 13 |  | (88 | ) | — |  | (75 | )
Net Cash Provided by (Used in) Investing Activities | (1,190 | ) | 1,551 |  | (2,011 | ) | 38 |  | (1,612 | )
Cash Flows From Financing Activities |  |  |  |  |
Issuance of debt | — |  | — |  | 150 |  | — |  | 150 |
Repayment of debt | — |  | (11 | ) | (155 | ) | — |  | (166 | )
Issuance of common stock | (29 | ) | — |  | — |  | — |  | (29 | )
Repurchase of common stock | (633 | ) | — |  | — |  | — |  | (633 | )
Dividends paid on common stock | (625 | ) | (2,528 | ) | (680 | ) | 3,208 |  | (625 | )
Distributions to noncontrolling interests | — |  | — |  | (28 | ) | — |  | (28 | )
Net proceeds from issuance of Phillips 66 Partners LP common units | — |  | — |  | 669 |  | — |  | 669 |
Other* | (9 | ) | 18 |  | 40 |  | (38 | ) | 11 |
Net Cash Used in Financing Activities | (1,296 | ) | (2,521 | ) | (4 | ) | 3,170 |  | (651 | )
Effect of Exchange Rate Changes on Cash and Cash Equivalents | — |  | — |  | 8 |  | — |  | 8 |
Net Change in Cash and Cash Equivalents | — |  | 289 |  | (1,131 | ) | — |  | (842 | )
Cash and cash equivalents at beginning of period | — |  | 575 |  | 2,499 |  | — |  | 3,074 |
Cash and Cash Equivalents at End of Period | $ | — |  | 864 |  | 1,368 |  | — |  | 2,232 |
* Includes intercompany capital contributions.
| Millions of Dollars
| Six Months Ended June 30, 2015
Statement of Cash Flows | Phillips 66 |  | Phillips 66 Company |  | All Other Subsidiaries |  | Consolidating Adjustments |  | Total Consolidated |
Cash Flows From Operating Activities |  |  |  |  |
Net Cash Provided by Operating Activities | $ | 531 |  | 1,386 |  | 1,524 |  | (662 | ) | 2,779 |
Cash Flows From Investing Activities |  |  |  |  |
Capital expenditures and investments* | — |  | (663 | ) | (2,465 | ) | 834 |  | (2,294 | )
Proceeds from asset dispositions** | — |  | 773 |  | 104 |  | (882 | ) | (5 | )
Intercompany lending activities | 1,611 |  | (1,357 | ) | (254 | ) | — |  | — |
Advances/loans—related parties | — |  | (50 | ) | — |  | — |  | (50 | )
Collection of advances/loans—related parties | — |  | 50 |  | — |  | — |  | 50 |
Other | — |  | (28 | ) | 75 |  | — |  | 47 |
Net Cash Provided by (Used in) Investing Activities | 1,611 |  | (1,275 | ) | (2,540 | ) | (48 | ) | (2,252 | )
Cash Flows From Financing Activities |  |  |  |  |
Issuance of debt | — |  | — |  | 1,169 |  | — |  | 1,169 |
Repayment of debt | (800 | ) | (9 | ) | (95 | ) | — |  | (904 | )
Issuance of common stock | (25 | ) | — |  | — |  | — |  | (25 | )
Repurchase of common stock | (733 | ) | — |  | — |  | — |  | (733 | )
Dividends paid on common stock | (574 | ) | (574 | ) | (48 | ) | 622 |  | (574 | )
Distributions to controlling interests | — |  | — |  | (186 | ) | 186 |  | — |
Distributions to noncontrolling interests | — |  | — |  | (20 | ) | — |  | (20 | )
Net proceeds from issuance of Phillips 66 Partners LP common units | — |  | — |  | 384 |  | — |  | 384 |
Other* | (10 | ) | 22 |  | 88 |  | (98 | ) | 2 |
Net Cash Provided by (Used in) Financing Activities | (2,142 | ) | (561 | ) | 1,292 |  | 710 |  | (701 | )
Effect of Exchange Rate Changes on Cash and Cash Equivalents | — |  | — |  | 56 |  | — |  | 56 |
Net Change in Cash and Cash Equivalents | — |  | (450 | ) | 332 |  | — |  | (118 | )
Cash and cash equivalents at beginning of period | — |  | 2,045 |  | 3,162 |  | — |  | 5,207 |
Cash and Cash Equivalents at End of Period | $ | — |  | 1,595 |  | 3,494 |  | — |  | 5,089 |
* Includes intercompany capital contributions. ** Includes return of investments in equity affiliates and working capital true-ups on dispositions.

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