Balance Sheet: Liabilities and Stockholders’ Equity
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.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

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

US$ in millions

	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	8,043)	7,738)	7,300)	8,310)	6,113)	8,444)	8,437)	6,736)	7,242)	6,404)	5,891)	5,829)	6,395)	5,767)	6,319)	5,063)	5,155)	6,151)	7,749)	6,965)
Accounts payable, related parties	532)	635)	700)	703)	473)	911)	899)	674)	785)	867)	664)	543)	666)	795)	765)	704)	500)	711)	735)	728)
Short-term debt	547)	842)	667)	30)	67)	316)	341)	42)	41)	706)	493)	609)	550)	1,583)	1,532)	32)	44)	43)	42)	35)
Accrued income and other taxes	979)	1,128)	1,086)	940)	1,116)	1,151)	1,133)	1,008)	1,002)	901)	893)	853)	805)	869)	912)	820)	878)	980)	774)	1,112)
Employee benefit obligations	710)	624)	502)	357)	724)	569)	461)	341)	582)	482)	359)	284)	527)	453)	385)	306)	576)	458)	369)	283)
Other accruals	835)	1,116)	916)	988)	442)	583)	461)	435)	455)	545)	574)	612)	520)	633)	487)	494)	378)	532)	406)	741)
Current liabilities	11,646)	12,083)	11,171)	11,328)	8,935)	11,974)	11,732)	9,236)	10,107)	9,905)	8,874)	8,730)	9,463)	10,100)	10,400)	7,419)	7,531)	8,875)	10,075)	9,864)
Long-term debt	11,216)	11,083)	10,772)	11,268)	11,093)	11,021)	11,023)	11,579)	10,069)	9,495)	9,472)	9,601)	9,588)	7,275)	7,330)	8,803)	8,843)	8,908)	8,923)	8,914)
Asset retirement obligations and accrued environmental costs	638)	617)	634)	620)	624)	637)	646)	644)	641)	629)	625)	616)	655)	654)	672)	673)	665)	681)	655)	650)
Deferred income taxes	5,553)	5,503)	5,533)	5,456)	5,275)	5,311)	5,191)	5,119)	5,008)	7,605)	7,565)	7,254)	6,743)	6,568)	6,233)	6,089)	6,041)	5,401)	5,447)	5,483)
Employee benefit obligations	1,044)	905)	906)	875)	867)	793)	885)	879)	884)	877)	1,250)	1,222)	1,216)	1,061)	1,343)	1,310)	1,285)	1,249)	1,277)	1,292)
Other liabilities and deferred credits	1,454)	1,458)	1,459)	1,563)	355)	353)	389)	375)	234)	242)	236)	257)	263)	285)	317)	309)	277)	269)	274)	279)
Noncurrent liabilities	19,905)	19,566)	19,304)	19,782)	18,214)	18,115)	18,134)	18,596)	16,836)	18,848)	19,148)	18,950)	18,465)	15,843)	15,895)	17,184)	17,111)	16,508)	16,576)	16,618)
Total liabilities	31,551)	31,649)	30,475)	31,110)	27,149)	30,089)	29,866)	27,832)	26,943)	28,753)	28,022)	27,680)	27,928)	25,943)	26,295)	24,603)	24,642)	25,383)	26,651)	26,482)
Common stock, $.01 par value	6)	6)	6)	6)	6)	6)	6)	6)	6)	6)	6)	6)	6)	6)	6)	6)	6)	6)	6)	6)
Capital in excess of par	20,301)	20,253)	19,912)	19,879)	19,873)	19,860)	19,831)	19,775)	19,768)	19,652)	19,624)	19,569)	19,559)	19,474)	19,370)	19,142)	19,145)	19,116)	19,093)	19,060)
Treasury stock, at cost	(16,673)	(16,261)	(15,822)	(15,367)	(15,023)	(14,526)	(14,121)	(13,891)	(10,378)	(9,915)	(9,454)	(9,073)	(8,788)	(8,558)	(8,379)	(8,137)	(7,746)	(7,340)	(6,967)	(6,633)
Retained earnings	22,064)	21,730)	21,423)	20,408)	20,489)	18,618)	17,500)	16,537)	16,306)	13,464)	13,001)	12,814)	12,608)	12,775)	12,597)	12,434)	12,348)	12,000)	10,726)	10,021)
Accumulated other comprehensive loss	(788)	(871)	(767)	(709)	(692)	(639)	(680)	(504)	(617)	(684)	(809)	(952)	(995)	(792)	(752)	(657)	(653)	(588)	(469)	(694)
Stockholders’ equity	24,910)	24,857)	24,752)	24,217)	24,653)	23,319)	22,536)	21,923)	25,085)	22,523)	22,368)	22,364)	22,390)	22,905)	22,842)	22,788)	23,100)	23,194)	22,389)	21,760)
Noncontrolling interests	2,259)	2,235)	2,554)	2,528)	2,500)	2,476)	2,424)	2,377)	2,343)	1,436)	1,438)	1,361)	1,335)	1,406)	1,224)	855)	838)	838)	834)	835)
Total equity	27,169)	27,092)	27,306)	26,745)	27,153)	25,795)	24,960)	24,300)	27,428)	23,959)	23,806)	23,725)	23,725)	24,311)	24,066)	23,643)	23,938)	24,032)	23,223)	22,595)
Total liabilities and equity	58,720)	58,741)	57,781)	57,855)	54,302)	55,884)	54,826)	52,132)	54,371)	52,712)	51,828)	51,405)	51,653)	50,254)	50,361)	48,246)	48,580)	49,415)	49,874)	49,077)

Accounts payable and related parties: Accounts payable exhibited fluctuations with a general upward trend from the start in March 2015 through 2019, peaking notably in mid and late 2018 before slightly retreating thereafter. Accounts payable to related parties followed a similar fluctuating pattern but remained relatively more stable and lower in magnitude compared to total accounts payable.
Short-term debt: Short-term debt displayed significant variability, with a marked increase in mid-2016, reaching over 1500 million USD, followed by a sharp decline at the end of that year. The value remained volatile through 2017 and 2018, showing intermittent spikes, and decreased notably towards the end of 2018 and through 2019.
Accrued income and other taxes: This liability item showed an overall rising trend from early 2015 to the end of 2017, with periodic increases and decreases but a generally upward trajectory. In 2018 and 2019, the figures hovered at elevated levels without significant spikes or drops.
Employee benefit obligations (current and non-current): Employee benefit obligations increased steadily in both current and non-current categories from 2015 through 2019. The current portion saw more pronounced growth, especially by late 2018 and into 2019. The non-current portion fluctuated but maintained a general upward trend over the period analyzed.
Other accruals: Other accruals revealed a downward trend from early 2015 to mid-2016, then demonstrated volatility with notable increases in late 2018 and in 2019. The highest accruals were recorded toward the end of the observed period.
Current liabilities: Current liabilities followed a pattern of rising and falling, with a general upward trend evident especially between 2016 and 2019. Peaks were observed in mid-2018 and late 2019, indicating increased short-term obligations in those periods.
Long-term debt: Long-term debt remained relatively stable throughout 2015, followed by a drop in 2016 before rising steadily again from late 2016 through 2019. The levels in 2018 and 2019 were generally higher than those seen in 2015 and early 2016, signifying increased long-term borrowing or bond issuance.
Asset retirement obligations and accrued environmental costs: These obligations were relatively stable with minor fluctuations. There was no significant trend up or down, suggesting consistent management or accrual of environmental liabilities over the examined timeframe.
Deferred income taxes: Deferred income taxes generally increased from 2015 through 2017, reached a notable trough at the end of 2017, and then resumed an upward trend through 2018 and 2019. The mid-period dip was the most pronounced anomaly in an otherwise rising trend.
Other liabilities and deferred credits: Other liabilities and deferred credits remained low and stable through 2017 and early 2018 but surged significantly in 2019, reaching levels more than four times the earlier amounts. This sharp increase suggests recognition of new liabilities or changes in accounting estimates starting in 2019.
Noncurrent liabilities: Noncurrent liabilities saw a general upward trend with some fluctuations, particularly rising significantly in late 2016 and stabilizing somewhat yet remaining elevated through 2019. This corresponds with observed long-term debt patterns and other increasing long-term obligations.
Total liabilities: Total liabilities fluctuated moderately but showed an increasing trend from 2015 to the end of 2019. Peaks were observed in late 2016 and again throughout 2018 and 2019, reflective of increases across various current and non-current liability categories.
Stockholders’ equity components: Common stock remained unchanged, indicating no change in shares issued. Capital in excess of par rose slightly but steadily over the period. Treasury stock increased in absolute negative value consistently, pointing toward ongoing share repurchases. Retained earnings grew substantially each year, suggesting profitability retention despite share buybacks. Accumulated other comprehensive loss fluctuated with no clear directional pattern but generally remained in a moderate loss position.
Total equity: Total equity increased consistently from 2015 through the period end in 2019, with a notable jump in late 2017 associated with a significant increase in retained earnings. This growth indicates strengthening shareholders' value amidst fluctuating liabilities.
Total liabilities and equity: The sum of liabilities and equity grew steadily from 2015 to 2019, tracking the combined increases in liabilities and equity. This reflects overall expansion of the company's balance sheet size across the observed periods.

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Phillips 66 (NYSE:PSX)

Balance Sheet: Liabilities and Stockholders’ Equity Quarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data