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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 Midstream718  1,249  1,761  2,562  
Chemicals1  1  2  2  
Refining
Total sales7,352  20,387  21,133  37,248  
Intersegment eliminations(4,437) (12,788) (12,070) (22,556) 
Total Refining2,915  7,599  9,063  14,692  
Marketing and Specialties
Total sales7,493  19,687  21,742  34,929  
Intersegment eliminations(220) (696) (790) (1,249) 
Total Marketing and Specialties7,273  18,991  20,952  33,680  
Corporate and Other6  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$324  423  (378) 739  
Chemicals42  275  211  502  
Refining(878) 983  (3,139) 785  
Marketing and Specialties286  353  799  558  
Corporate and Other(219) (205) (416) (415) 
Consolidated income (loss) before income taxes$(445) 1,829  (2,923) 2,169  

 Millions of Dollars
 June 30
2020		December 31
2019
Total Assets
Midstream$15,447  15,716  
Chemicals6,148  6,249  
Refining21,981  25,150  
Marketing and Specialties7,246  8,659  
Corporate and Other3,696  2,946  
Consolidated total assets$54,518  58,720