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Debt (Tables)
 12 Months Ended
Dec. 31, 2016
Debt Disclosure [Abstract]  
Summary of long term debt
Long-term debt at December 31 was:

 
Millions of Dollars
 
2016

 
2015

 
 
 
 
2.95% Senior Notes due 2017
$
1,500

 
1,500

4.30% Senior Notes due 2022
2,000

 
2,000

4.65% Senior Notes due 2034
1,000

 
1,000

5.875% Senior Notes due 2042
1,500

 
1,500

4.875% Senior Notes due 2044
1,500

 
1,500

Phillips 66 Partners 2.646% Senior Notes due 2020
300

 
300

Phillips 66 Partners 3.605% Senior Notes due 2025
500

 
500

Phillips 66 Partners 3.55% Senior Notes due 2026
500

 
—

Phillips 66 Partners 4.680% Senior Notes due 2045
300

 
300

Phillips 66 Partners 4.90% Senior Notes due 2046
625

 
—

Industrial Development Bonds due 2018 through 2021 at 0.57%-0.81% at year-end 2016 and 0.02%-0.05% at year-end 2015
50

 
50

Sweeny Cogeneration, L.P. notes due 2020 at 7.54%
—

 
41

Note payable to Merey Sweeny, L.P. due 2020 at 7% (related party)
68

 
83

Phillips 66 Partners revolving credit facility due 2021 at 1.98% at year-end 2016
210

 
—

Other
1

 
1

Debt at face value
10,054

 
8,775

Capitalized leases
188

 
208

Net unamortized discounts and debt issuance costs
(104
)
 
(96
)
Total debt
10,138

 
8,887

Short-term debt
(550
)
 
(44
)
Long-term debt
$
9,588

 
8,843