Name: Phillips 66 (NYSE:PSX) | Balance Sheet: Assets
Creator: Stock Analysis on Net

Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Assets: Selected Items

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Current Assets: Selected Items

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Phillips 66, consolidated balance sheet: assets

US$ in millions

	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015
Cash and cash equivalents	1,614)	3,019)	3,119)	2,711)	3,074)
Accounts and notes receivable, net of allowances	7,376)	5,414)	6,424)	5,485)	4,411)
Accounts and notes receivable, related parties	1,134)	759)	1,082)	912)	762)
Inventories	3,776)	3,543)	3,395)	3,150)	3,477)
Prepaid expenses and other current assets	495)	474)	370)	422)	532)
Current assets	14,395)	13,209)	14,390)	12,680)	12,256)
Equity investments	14,284)	14,218)	13,733)	13,102)	11,977)
Other investments	130)	106)	114)	98)	82)
Loans and long-term receivables	157)	97)	94)	334)	84)
Investments and long-term receivables	14,571)	14,421)	13,941)	13,534)	12,143)
Net properties, plants and equipment	23,786)	22,018)	21,460)	20,855)	19,721)
Goodwill	3,270)	3,270)	3,270)	3,270)	3,275)
Intangibles	869)	869)	876)	888)	906)
Other assets	1,829)	515)	434)	426)	279)
Noncurrent assets	44,325)	41,093)	39,981)	38,973)	36,324)
Total assets	58,720)	54,302)	54,371)	51,653)	48,580)

Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).

Total assets grew steadily over the five-year period, increasing from 48,580 million US dollars in 2015 to 58,720 million US dollars by the end of 2019. This overall growth was driven by consistent increases in both current and noncurrent asset categories, with a particularly notable expansion in the final year of the period.

Current Asset Composition and Liquidity: Current assets rose from 12,256 million US dollars in 2015 to 14,395 million US dollars in 2019. However, the composition of these assets shifted significantly. Cash and cash equivalents remained relatively stable between 2,711 million and 3,119 million US dollars from 2016 to 2018, before experiencing a sharp decline to 1,614 million US dollars in 2019. This reduction in liquid cash was offset by a substantial increase in accounts and notes receivable, which grew from 4,411 million US dollars in 2015 to 7,376 million US dollars in 2019, suggesting a higher volume of outstanding credit or longer collection cycles.
Long-Term Capital Investment: Noncurrent assets exhibited strong growth, increasing from 36,324 million US dollars in 2015 to 44,325 million US dollars in 2019. Net properties, plants, and equipment showed a consistent upward trajectory, rising from 19,721 million US dollars to 23,786 million US dollars, indicating sustained capital expenditure in physical infrastructure. Concurrently, equity investments grew from 11,977 million US dollars to 14,284 million US dollars, reflecting an increase in strategic long-term holdings.
Intangibles and Miscellaneous Assets: Goodwill remained virtually stagnant at approximately 3,270 million US dollars throughout the period, while intangible assets saw a marginal decline from 906 million US dollars to 869 million US dollars. A significant volatility is observed in other assets, which remained below 600 million US dollars for most of the period but spiked to 1,829 million US dollars in 2019, contributing to the overall increase in the total asset base for that year.

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