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Segment Disclosures and Related Information | 6 Months Ended
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Jun. 30, 2016
Segment Reporting [Abstract] |
Segment Disclosures and Related Information | Segment Disclosures and Related Information Our operating segments are:
1) | Midstream—Gathers, processes, transports and markets natural gas; and transports, fractionates and markets NGL in the United States. In addition, this segment transports crude oil and other feedstocks to our refineries and other locations, delivers refined and specialty products to market, and provides terminaling and storage services for crude oil and petroleum products. The Midstream segment includes our master limited partnership, Phillips 66 Partners LP, as well as our 50 percent equity investment in DCP Midstream.
2) | Chemicals—Manufactures and markets petrochemicals and plastics on a worldwide basis. The Chemicals segment consists of our 50 percent equity investment in CPChem.
3) | Refining—Buys, sells and refines crude oil and other feedstocks at 14 refineries, mainly in the United States and Europe.
4) | Marketing and Specialties—Purchases for resale and markets refined products, mainly in the United States and Europe. In addition, this segment includes the manufacturing and marketing of specialty products (such as base oils and lubricants), as well as power generation operations.
Corporate and Other includes general corporate overhead, interest expense, our investments in new technologies and various other corporate activities. Corporate assets include all cash and cash equivalents. We evaluate performance and allocate resources based on net income attributable to Phillips 66. Intersegment sales are at prices that approximate market. Analysis of Results by Operating Segment
| Millions of Dollars
| Three Months Ended June 30 |  | Six Months Ended June 30
| 2016 |  | 2015 |  |  | 2016 |  | 2015 |
Sales and Other Operating Revenues |  |  |  |  |
Midstream |  |  |  |  |
Total sales | $ | 919 |  | 913 |  |  | 1,850 |  | 1,882 |
Intersegment eliminations | (278 | ) | (243 | ) |  | (570 | ) | (497 | )
Total Midstream | 641 |  | 670 |  |  | 1,280 |  | 1,385 |
Chemicals | 1 |  | 1 |  |  | 2 |  | 3 |
Refining |  |  |  |  |
Total sales | 13,539 |  | 18,955 |  |  | 23,777 |  | 33,226 |
Intersegment eliminations | (9,246 | ) | (11,920 | ) |  | (15,805 | ) | (20,676 | )
Total Refining | 4,293 |  | 7,035 |  |  | 7,972 |  | 12,550 |
Marketing and Specialties |  |  |  |  |
Total sales | 17,180 |  | 21,343 |  |  | 30,528 |  | 38,091 |
Intersegment eliminations | (274 | ) | (549 | ) |  | (540 | ) | (760 | )
Total Marketing and Specialties | 16,906 |  | 20,794 |  |  | 29,988 |  | 37,331 |
Corporate and Other | 8 |  | 12 |  |  | 16 |  | 21 |
Consolidated sales and other operating revenues | $ | 21,849 |  | 28,512 |  |  | 39,258 |  | 51,290 |
Net Income (Loss) Attributable to Phillips 66 |  |  |  |  |
Midstream | $ | 39 |  | (78 | ) |  | 104 |  | (11 | )
Chemicals | 190 |  | 295 |  |  | 346 |  | 498 |
Refining | 149 |  | 604 |  |  | 235 |  | 1,142 |
Marketing and Specialties | 229 |  | 314 |  |  | 434 |  | 618 |
Corporate and Other | (111 | ) | (123 | ) |  | (238 | ) | (248 | )
Consolidated net income attributable to Phillips 66 | $ | 496 |  | 1,012 |  |  | 881 |  | 1,999 |
| Millions of Dollars
| June 30 2016 |  |  | December 31 2015 |
Total Assets |  |  |
Midstream | $ | 11,896 |  |  | 11,043 |
Chemicals | 5,644 |  |  | 5,237 |
Refining | 23,214 |  |  | 21,993 |
Marketing and Specialties | 6,397 |  |  | 5,631 |
Corporate and Other | 3,210 |  |  | 4,676 |
Consolidated total assets | $ | 50,361 |  |  | 48,580 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599 + Details
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