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Common-Size Balance Sheet: Assets
Beginner level
Phillips 66, common-size consolidated balance sheet: assets
Based on: 10-K (filing date: 2020-02-21), 10-K (filing date: 2019-02-22), 10-K (filing date: 2018-02-23), 10-K (filing date: 2017-02-17), 10-K (filing date: 2016-02-19).
| Balance sheet item | Description | The company |
|---|---|---|
| Current assets | Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. | Phillips 66’s current assets as a percentage of total assets decreased from 2017 to 2018 but then slightly increased from 2018 to 2019. |
| Net properties, plants and equipment | Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. | Phillips 66’s net properties, plants and equipment as a percentage of total assets increased from 2017 to 2018 but then slightly decreased from 2018 to 2019. |
| Noncurrent assets | Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer. | Phillips 66’s noncurrent assets as a percentage of total assets increased from 2017 to 2018 but then slightly decreased from 2018 to 2019. |