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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).

The overall capital structure demonstrates a consistent balance between total liabilities and total equity over the five-year period. Total liabilities generally fluctuated between 49.55% and 54.55%, while total equity remained largely within the 45% to 50% range, indicating a stable financing strategy throughout the observed quarters.

Liability Composition and Trends
Current liabilities exhibited volatility, peaking at 21.43% in September 2018. Accounts payable represent the primary component of these current obligations, with values ranging from 10.61% to 15.54%. Long-term debt showed significant movement, reaching a peak of 22.21% in March 2018 before stabilizing near 19.10% by the end of 2019.
A distinct reduction in deferred income taxes is observed between June 2017 (14.60%) and December 2017 (9.21%), after which the metric remained relatively steady, fluctuating between 9% and 10% through the end of 2019.
Equity Dynamics and Shareholder Returns
Retained earnings exhibit a strong and consistent upward trend, increasing from 20.42% in March 2015 to 37.57% in December 2019, which suggests sustained profitability and the internal accumulation of capital.
A marked increase in the proportion of treasury stock is observed, growing from -13.52% to -28.39% over the analyzed period. This expansion indicates an aggressive share repurchase program, which served to offset the growth in retained earnings and maintain a relatively constant total equity percentage.
Other Balance Sheet Observations
Noncontrolling interests increased from 1.70% in March 2015 to 3.85% in December 2019, suggesting a gradual change in the ownership structure of consolidated subsidiaries. Asset retirement obligations and accrued environmental costs remained highly stable, consistently representing between 1.05% and 1.40% of the total balance sheet.

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