Stock Analysis on Net
Stock Analysis on Net

Phillips 66 (NYSE:PSX)

This company has been moved to the archive! The financial data has not been updated since February 21, 2020.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity 
Quarterly Data

Phillips 66, common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Accounts payable 13.70 13.17 12.63 14.36 11.26 15.11 15.39 12.92 13.32 12.15 11.37 11.34 12.38 11.48 12.55 10.49 10.61 12.45 15.54 14.19
Accounts payable, related parties 0.91 1.08 1.21 1.22 0.87 1.63 1.64 1.29 1.44 1.64 1.28 1.06 1.29 1.58 1.52 1.46 1.03 1.44 1.47 1.48
Short-term debt 0.93 1.43 1.15 0.05 0.12 0.57 0.62 0.08 0.08 1.34 0.95 1.18 1.06 3.15 3.04 0.07 0.09 0.09 0.08 0.07
Accrued income and other taxes 1.67 1.92 1.88 1.62 2.06 2.06 2.07 1.93 1.84 1.71 1.72 1.66 1.56 1.73 1.81 1.70 1.81 1.98 1.55 2.27
Employee benefit obligations 1.21 1.06 0.87 0.62 1.33 1.02 0.84 0.65 1.07 0.91 0.69 0.55 1.02 0.90 0.76 0.63 1.19 0.93 0.74 0.58
Other accruals 1.42 1.90 1.59 1.71 0.81 1.04 0.84 0.83 0.84 1.03 1.11 1.19 1.01 1.26 0.97 1.02 0.78 1.08 0.81 1.51
Current liabilities 19.83% 20.57% 19.33% 19.58% 16.45% 21.43% 21.40% 17.72% 18.59% 18.79% 17.12% 16.98% 18.32% 20.10% 20.65% 15.38% 15.50% 17.96% 20.20% 20.10%
Long-term debt 19.10 18.87 18.64 19.48 20.43 19.72 20.11 22.21 18.52 18.01 18.28 18.68 18.56 14.48 14.55 18.25 18.20 18.03 17.89 18.16
Asset retirement obligations and accrued environmental costs 1.09 1.05 1.10 1.07 1.15 1.14 1.18 1.24 1.18 1.19 1.21 1.20 1.27 1.30 1.33 1.39 1.37 1.38 1.31 1.32
Deferred income taxes 9.46 9.37 9.58 9.43 9.71 9.50 9.47 9.82 9.21 14.43 14.60 14.11 13.05 13.07 12.38 12.62 12.44 10.93 10.92 11.17
Employee benefit obligations 1.78 1.54 1.57 1.51 1.60 1.42 1.61 1.69 1.63 1.66 2.41 2.38 2.35 2.11 2.67 2.72 2.65 2.53 2.56 2.63
Other liabilities and deferred credits 2.48 2.48 2.53 2.70 0.65 0.63 0.71 0.72 0.43 0.46 0.46 0.50 0.51 0.57 0.63 0.64 0.57 0.54 0.55 0.57
Noncurrent liabilities 33.90% 33.31% 33.41% 34.19% 33.54% 32.42% 33.08% 35.67% 30.97% 35.76% 36.95% 36.86% 35.75% 31.53% 31.56% 35.62% 35.22% 33.41% 33.24% 33.86%
Total liabilities 53.73% 53.88% 52.74% 53.77% 50.00% 53.84% 54.47% 53.39% 49.55% 54.55% 54.07% 53.85% 54.07% 51.62% 52.21% 50.99% 50.72% 51.37% 53.44% 53.96%
Common stock, $.01 par value 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01
Capital in excess of par 34.57 34.48 34.46 34.36 36.60 35.54 36.17 37.93 36.36 37.28 37.86 38.07 37.87 38.75 38.46 39.68 39.41 38.68 38.28 38.84
Treasury stock, at cost -28.39 -27.68 -27.38 -26.56 -27.67 -25.99 -25.76 -26.65 -19.09 -18.81 -18.24 -17.65 -17.01 -17.03 -16.64 -16.87 -15.94 -14.85 -13.97 -13.52
Retained earnings 37.57 36.99 37.08 35.27 37.73 33.32 31.92 31.72 29.99 25.54 25.08 24.93 24.41 25.42 25.01 25.77 25.42 24.28 21.51 20.42
Accumulated other comprehensive loss -1.34 -1.48 -1.33 -1.23 -1.27 -1.14 -1.24 -0.97 -1.13 -1.30 -1.56 -1.85 -1.93 -1.58 -1.49 -1.36 -1.34 -1.19 -0.94 -1.41
Stockholders’ equity 42.42% 42.32% 42.84% 41.86% 45.40% 41.73% 41.10% 42.05% 46.14% 42.73% 43.16% 43.51% 43.35% 45.58% 45.36% 47.23% 47.55% 46.94% 44.89% 44.34%
Noncontrolling interests 3.85 3.80 4.42 4.37 4.60 4.43 4.42 4.56 4.31 2.72 2.77 2.65 2.58 2.80 2.43 1.77 1.72 1.70 1.67 1.70
Total equity 46.27% 46.12% 47.26% 46.23% 50.00% 46.16% 45.53% 46.61% 50.45% 45.45% 45.93% 46.15% 45.93% 48.38% 47.79% 49.01% 49.28% 48.63% 46.56% 46.04%
Total liabilities and equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31).

Accounts payable
The proportion of accounts payable relative to total liabilities and equity fluctuated moderately, starting at 14.19% in early 2015, dipping to a low of 10.49% in early 2016, then rising to a peak of 15.39% in mid-2018, before settling around 13-14% by the end of 2019.
Accounts payable, related parties
This category remained relatively stable, hovering around 1-1.6% of total liabilities and equity, with a slight declining trend observed from late 2018 through 2019, falling below 1.0% by the end of 2019.
Short-term debt
Short-term debt showed variability, with a notable spike in mid-2016 reaching over 3%, followed by a general decrease and mostly remaining below 1.5% by the end of the period, suggesting short-term borrowing was not a major funding source throughout most of the timeframe.
Accrued income and other taxes
The share of accrued income and other taxes maintained a narrow range between approximately 1.55% and 2.07%, showing minor increases particularly during 2017 and 2018, indicating consistent tax-related accruals as part of liabilities.
Employee benefit obligations (current portion)
Current employee benefit obligations increased from 0.58% in early 2015 to a higher level around 1.3% by the end of 2018 and 2019, reflecting growing current liabilities attributable to employee benefits over time.
Other accruals
Other accruals experienced fluctuations, generally remaining below 1.3%, with occasional upticks in 2019 reaching near 1.9%, suggesting some variability in miscellaneous accrued liabilities.
Current liabilities (total)
The percentage of current liabilities relative to total liabilities and equity showed variability, initially declining from about 20% in early 2015 to approximately 15% in early 2016, before rising again to above 21% by mid-2018 and maintaining levels around 20% towards the end of 2019.
Long-term debt
Long-term debt remained a significant component, fluctuating between 14.5% and 22.2%, with a notable peak in early 2018, and a slight decreasing trend thereafter. The share remained relatively stable around 18-20% toward the end of the analyzed period.
Asset retirement obligations and accrued environmental costs
This category remained relatively stable, fluctuating marginally between 1.0% and 1.4%, reflecting consistent obligations related to asset retirement and environmental matters.
Deferred income taxes
Deferred income taxes as a percentage of total liabilities and equity demonstrated a decrease after reaching a high of about 14.6% in mid-2017, declining to around 9.4-9.8% in the subsequent period, indicating a reduction in deferred tax liabilities or their relative weight.
Employee benefit obligations (noncurrent portion)
The long-term employee benefit obligations showed a declining trend from roughly 2.6% in early 2015 to lows near 1.4-1.6% in 2018 and 2019, suggesting a reduction in noncurrent employee benefit liabilities.
Other liabilities and deferred credits
Starting from under 1% in 2015-2017, this component saw a sharp increase in 2019 to around 2.5-2.7%, implying accumulation of other long-term liabilities or deferred credits during the later period.
Noncurrent liabilities (total)
Noncurrent liabilities accounted for approximately 31.5%-36.9% of total liabilities and equity. This share remained fairly stable with minor fluctuations, though it trended slightly downward from mid-2015 to mid-2016 and again stabilized above 33% towards the end of 2019.
Total liabilities
Total liabilities comprised just over half of total liabilities and equity consistently, fluctuating between about 49.5% and 54.5%. There was no substantial upward or downward trend, indicating balanced leverage maintained by the entity over the analyzed quarters.
Common stock, $.01 par value
The proportion of common stock to total liabilities and equity was minimal and unchanged at 0.01%, reflecting the par value representation and its negligible effect on overall capital structure percentages.
Capital in excess of par
This equity component was stable around 35-39%, with a slight decreasing trend from 39.7% in early 2016 to about 34.3-34.5% in 2019, suggesting some contraction in additional paid-in capital relative to total financial structure.
Treasury stock, at cost
Treasury stock consistently represented a significant negative adjustment to equity, deepening from -13.5% in early 2015 to a substantial -28.4% by the end of 2019. This reflects ongoing share repurchases or similar equity reductions during the period.
Retained earnings
Retained earnings increased steadily from 20.4% in early 2015 to nearly 37.7% by late 2018 and remained around 37% through 2019. This growth suggests accumulation of earnings retained in the business over time, contributing positively to shareholders’ equity.
Accumulated other comprehensive loss
The accumulated other comprehensive loss fluctuated around -1.1% to -1.9%, showing some volatility but no clear directional trend, indicating minor unrealized losses or adjustments affecting equity.
Stockholders’ equity
Stockholders’ equity as a whole accounted for roughly 41% to 50% of total liabilities and equity. It peaked near 50.4% in late 2017 and early 2019, but generally settled around 42-46%, showing moderate variability without significant sustained trend.
Noncontrolling interests
Noncontrolling interests increased from about 1.7% in early 2015 to a peak of approximately 4.6% in late 2018 and early 2019, before decreasing to around 3.8-3.9% by the end of 2019. This indicates fluctuating minority interests over the period.
Total equity
Total equity followed a pattern similar to stockholders’ equity, ranging between 45.5% and 50.5%, with peaks around late 2017 and early 2019. Slight declines were evident in mid-2018 and most recently, equity share stabilized slightly above 46%.
Total liabilities and equity
By definition, total liabilities and equity remained constant at 100% throughout all reported periods, serving as the base for relative measure analysis.