Phillips 66 (PSX)

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Phillips 66, Consolidated Statement of Financial Position, Assets

USD $ in millions

Based on: 10-K (filing date: 2018-02-23), 10-K (filing date: 2017-02-17), 10-K (filing date: 2016-02-19), 10-K (filing date: 2015-02-20), 10-K (filing date: 2014-02-21).

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Assets, Selected Items

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 increased from 2015 to 2016 and from 2016 to 2017.
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 increased from 2015 to 2016 and from 2016 to 2017.
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 increased from 2015 to 2016 and from 2016 to 2017.
Total assets	Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.	Phillips 66's total assets increased from 2015 to 2016 and from 2016 to 2017.

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Current Assets, Selected Items

Item	Description	The company
Cash and cash equivalents	Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.	Phillips 66's cash and cash equivalents declined from 2015 to 2016 but then increased from 2016 to 2017 exceeding 2015 level.
Accounts and notes receivable, net of allowances	The aggregate of amounts due from customers or clients, within one year of the balance sheet date (or one operating cycle, if longer), for goods or services that have been delivered or sold in the normal course of business and an amount representing an agreement for an unconditional promise by the maker to pay the entity (holder) a definite sum of money at a future date within one year of the balance sheet, reduced to their estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection and net of any write-downs taken for collection uncertainty on the part of the holder, respectively.	Phillips 66's accounts and notes receivable, net of allowances increased from 2015 to 2016 and from 2016 to 2017.
Inventories	Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.	Phillips 66's inventories declined from 2015 to 2016 but then increased from 2016 to 2017 not reaching 2015 level.