XML 36 R25.htm IDEA: XBRL DOCUMENT
v3.20.2

Segment Disclosures and Related Information | 6 Months Ended
--- | ---
Jun. 30, 2020
Segment Reporting [Abstract] |
Segment Disclosures and Related Information | Segment Disclosures and Related Information Our operating segments are: 1)Midstream—Provides crude oil and refined petroleum product transportation, terminaling and processing services, as well as natural gas and NGL transportation, storage, fractionation, processing, and marketing services, mainly in the United States. The Midstream segment includes our master limited partnership (MLP), Phillips 66 Partners, as well as our 50% equity investment in DCP Midstream. 2)Chemicals—Consists of our 50% equity investment in CPChem, which manufactures and markets petrochemicals and plastics on a worldwide basis. 3)Refining—Refines crude oil and other feedstocks into petroleum products, such as gasoline, distillates and aviation fuels, at 13 refineries in the United States and Europe. 4)Marketing and Specialties—Purchases for resale and markets refined petroleum products, mainly in the United States and Europe. In addition, this segment includes the manufacturing and marketing of specialty products. Corporate and Other includes general corporate overhead, interest expense, our investment in new technologies, and various other corporate activities. Corporate assets include all cash, cash equivalents and income tax-related assets. Intersegment sales are at prices that we believe approximate market. Analysis of Results by Operating Segment
| Millions of Dollars |  |  |  |  |  |
| Three Months Ended June 30 |  |  |  | Six Months Ended June 30 |  |
| 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Sales and Other Operating Revenues* |  |  |  |  |  |  |
Midstream |  |  |  |  |  |  |
Total sales | $ | 1,100 |  |  | 1,709 |  |  | 2,638 |  |  | 3,606 |
Intersegment eliminations | (382) |  |  | (460) |  |  | (877) |  |  | (1,044) |
Total Midstream | 718 |  |  | 1,249 |  |  | 1,761 |  |  | 2,562 |
Chemicals | 1 |  |  | 1 |  |  | 2 |  |  | 2 |
Refining |  |  |  |  |  |  |
Total sales | 7,352 |  |  | 20,387 |  |  | 21,133 |  |  | 37,248 |
Intersegment eliminations | (4,437) |  |  | (12,788) |  |  | (12,070) |  |  | (22,556) |
Total Refining | 2,915 |  |  | 7,599 |  |  | 9,063 |  |  | 14,692 |
Marketing and Specialties |  |  |  |  |  |  |
Total sales | 7,493 |  |  | 19,687 |  |  | 21,742 |  |  | 34,929 |
Intersegment eliminations | (220) |  |  | (696) |  |  | (790) |  |  | (1,249) |
Total Marketing and Specialties | 7,273 |  |  | 18,991 |  |  | 20,952 |  |  | 33,680 |
Corporate and Other | 6 |  |  | 7 |  |  | 13 |  |  | 14 |
Consolidated sales and other operating revenues | $ | 10,913 |  |  | 27,847 |  |  | 31,791 |  |  | 50,950 |
* See Note 2—Sales and Other Operating Revenues, for further details on our disaggregated sales and other operating revenues. |  |  |  |  |  |  |
Income (Loss) Before Income Taxes |  |  |  |  |  |  |
Midstream | $ | 324 |  |  | 423 |  |  | (378) |  |  | 739 |
Chemicals | 42 |  |  | 275 |  |  | 211 |  |  | 502 |
Refining | (878) |  |  | 983 |  |  | (3,139) |  |  | 785 |
Marketing and Specialties | 286 |  |  | 353 |  |  | 799 |  |  | 558 |
Corporate and Other | (219) |  |  | (205) |  |  | (416) |  |  | (415) |
Consolidated income (loss) before income taxes | $ | (445) |  |  | 1,829 |  |  | (2,923) |  |  | 2,169 |
| Millions of Dollars |  |
| June 30 2020 |  | December 31 2019
Total Assets |  |  |
Midstream | $ | 15,447 |  |  | 15,716 |
Chemicals | 6,148 |  |  | 6,249 |
Refining | 21,981 |  |  | 25,150 |
Marketing and Specialties | 7,246 |  |  | 8,659 |
Corporate and Other | 3,696 |  |  | 2,946 |
Consolidated total assets | $ | 54,518 |  |  | 58,720 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration