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Consolidated Statement of Changes in Equity - USD ($)
$ in Millions
Total
Cumulative effect of accounting changes
Par Value
Capital in Excess of Par
Treasury Stock
Retained Earnings
Retained Earnings
Cumulative effect of accounting changes
Accum. Other Comprehensive Loss
Accum. Other Comprehensive Loss
Cumulative effect of accounting changes
Noncontrolling Interests
Noncontrolling Interests
Cumulative effect of accounting changes
Beginning Balance at Dec. 31, 2018 $ 27,153 $ (9) $ 6 $ 19,873 $ (15,023) $ 20,489 $ 81 $ (692) $ (89) $ 2,500 $ (1)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Net income (loss) 1,774         1,628       146  
Other comprehensive income (loss) 14             14      
Dividends paid on common stock (770)         (770)          
Repurchase of common stock (799)       (799)            
Benefit plan activity 29     34   (5)          
Issuance of Phillips 66 Partners LP common units 31     5           26  
Distributions to noncontrolling interests (117)                 (117)  
Ending Balance at Jun. 30, 2019 $ 27,306   6 19,912 (15,822) 21,423   (767)   2,554  
Beginning balance, common stock issued (in shares) at Dec. 31, 2018 645,692,000                    
Beginning balance, treasury stock (in shares) at Dec. 31, 2018 189,526,000                    
Stockholders' Equity, Shares [Roll Forward]                      
Repurchase of common stock (in shares) 8,761,000                    
Shares issued - share-based compensation (in shares) 1,136,000                    
Ending balance, common stock issued (in shares) at Jun. 30, 2019 646,828,000                    
Ending balance, treasury stock (in shares) at Jun. 30, 2019 198,287,000                    
Beginning Balance at Mar. 31, 2019 $ 26,745   6 19,879 (15,367) 20,408   (709)   2,528  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Net income (loss) 1,504         1,424       80  
Other comprehensive income (loss) (58)             (58)      
Dividends paid on common stock (406)         (406)          
Repurchase of common stock (455)       (455)            
Benefit plan activity 27     30   (3)          
Issuance of Phillips 66 Partners LP common units 10     3           7  
Distributions to noncontrolling interests (61)                 (61)  
Ending Balance at Jun. 30, 2019 $ 27,306   6 19,912 (15,822) 21,423   (767)   2,554  
Beginning balance, common stock issued (in shares) at Mar. 31, 2019 646,716,000                    
Beginning balance, treasury stock (in shares) at Mar. 31, 2019 193,165,000                    
Stockholders' Equity, Shares [Roll Forward]                      
Repurchase of common stock (in shares) 5,122,000                    
Shares issued - share-based compensation (in shares) 112,000                    
Ending balance, common stock issued (in shares) at Jun. 30, 2019 646,828,000                    
Ending balance, treasury stock (in shares) at Jun. 30, 2019 198,287,000                    
Beginning Balance at Dec. 31, 2019 $ 27,169   6 20,301 (16,673) 22,064   (788)   2,259  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Net income (loss) (2,494)         (2,637)       143  
Other comprehensive income (loss) (365)             (365)      
Dividends paid on common stock (789)         (789)          
Repurchase of common stock (443)       (443)            
Benefit plan activity 36     41   (5)          
Transfer of equity interest 305                 305  
Distributions to noncontrolling interests (127)                 (127)  
Other 3         (2)   5      
Ending Balance at Jun. 30, 2020 $ 23,295   6 20,342 (17,116) 18,631   (1,148)   2,580  
Beginning balance, common stock issued (in shares) at Dec. 31, 2019 647,416,633                    
Beginning balance, treasury stock (in shares) at Dec. 31, 2019 206,390,806                    
Stockholders' Equity, Shares [Roll Forward]                      
Repurchase of common stock (in shares) 5,381,000                    
Shares issued - share-based compensation (in shares) 1,051,000                    
Ending balance, common stock issued (in shares) at Jun. 30, 2020 648,468,487                    
Ending balance, treasury stock (in shares) at Jun. 30, 2020 211,771,827                    
Beginning Balance at Mar. 31, 2020 $ 23,639   6 20,305 (17,116) 19,168   (991)   2,267  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Net income (loss) (67)         (141)       74  
Other comprehensive income (loss) (157)             (157)      
Dividends paid on common stock (393)         (393)          
Benefit plan activity 34     37   (3)          
Transfer of equity interest 305                 305  
Distributions to noncontrolling interests (66)                 (66)  
Ending Balance at Jun. 30, 2020 $ 23,295   $ 6 $ 20,342 $ (17,116) $ 18,631   $ (1,148)   $ 2,580  
Beginning balance, common stock issued (in shares) at Mar. 31, 2020 648,447,000                    
Beginning balance, treasury stock (in shares) at Mar. 31, 2020 211,772,000                    
Stockholders' Equity, Shares [Roll Forward]                      
Repurchase of common stock (in shares) 0                    
Shares issued - share-based compensation (in shares) 21,000                    
Ending balance, common stock issued (in shares) at Jun. 30, 2020 648,468,487                    
Ending balance, treasury stock (in shares) at Jun. 30, 2020 211,771,827