Balance Sheet: Assets
Quarterly Data
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.
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Phillips 66 pages available for free this week:
- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Return on Assets (ROA) since 2012
- Price to Book Value (P/BV) since 2012
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Phillips 66, consolidated balance sheet: assets (quarterly data)
US$ in millions
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).
- Cash and Cash Equivalents
- Cash holdings demonstrated notable volatility throughout the periods, beginning at $5,390 million in March 2015 and declining sharply to a low of $842 million by March 2018. A subsequent recovery occurred, reaching $3,019 million in December 2018, before fluctuating again down to around $1,614 million by the end of 2019. This pattern indicates variability in liquidity management or cash flow fluctuations.
- Accounts and Notes Receivable, Net of Allowances
- Receivables showed a cyclical pattern with some growth over the long term. Starting at $4,717 million in March 2015, values dropped and rose intermittently, ultimately increasing to $7,376 million by December 2019. This upward trend toward the later quarters suggests increased sales or credit extension to customers.
- Accounts and Notes Receivable, Related Parties
- Receivables involving related parties fluctuated without a clear trend, ranging from $711 million to $1,167 million across the periods. This variation reflects inconsistent intercompany or affiliated entity transactions.
- Inventories
- Inventory balances showed marked seasonal fluctuations, with lower values predominantly in quarters ending December, suggesting possible inventory drawdowns toward year-end, possibly for cost management or seasonal sales effects. The overall trajectory indicates moderate growth from $4,166 million in early 2015 to peaks exceeding $5,500 million in late 2018 and 2019, pointing to increased stockholding or inventory buildup.
- Prepaid Expenses and Other Current Assets
- These current assets exhibited a declining trend in the initial years, bottoming near $370 million in late 2017, followed by partial recovery and subsequent variation. This may indicate changes in prepayments or other current asset composition over time.
- Current Assets
- The total current assets portrayed a general fluctuation pattern around an average bracket, with initial values near $16,000 million slipping down to lows around $11,216 million in early 2016 and recovering to above $15,000 million by late 2018. This reflects the combined behavior of cash, receivables, inventories, and other current assets.
- Investments and Long-Term Receivables
- This category steadily increased over the periods from approximately $10,529 million to $14,571 million by year-end 2019, indicating expanding long-term financial commitments or asset holdings.
- Net Properties, Plants and Equipment
- Fixed assets displayed continuous growth throughout the timeline, starting at $17,918 million and peaking at $23,786 million by December 2019. This trend confirms ongoing capital investments and asset base expansion.
- Goodwill
- Goodwill values remained stable at approximately $3,270 million from 2015 through 2019, exhibiting no significant impairment or acquisition-related changes.
- Intangibles
- Intangible assets showed a slight downward trend, shrinking from $882 million to around $869 million, which could be attributed to amortization effects or asset writedowns.
- Other Assets
- Other noncurrent assets were relatively constant until 2018, then experienced a sharp increase beginning in early 2019, rising from around $500 million to nearly $1,800 million. This notable change suggests reclassification, acquisition, or recognition of new asset classes.
- Noncurrent Assets
- Noncurrent assets grew steadily from $32,933 million to $44,325 million at the end of 2019, reflecting accumulation in investments, property, and other long-term holdings.
- Total Assets
- Total assets remained broadly stable in the earlier years, fluctuating near $49,000 million to $51,000 million, followed by a gradual increase, reaching nearly $59,000 million by the close of 2019. This suggests overall asset base growth driven largely by investments, fixed assets, and other asset increases.