Phillips 66 (PSX)

Statement of Cash Flows

Difficulty: Beginner

The cash flow statement provides information about a company’s cash receipts and cash payments during an accounting period, showing how these cash flaws link the ending cash balance to the beginning balance shown on the company’s statement of financial position.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Phillips 66, Consolidated Statement of Cash Flows

USD $ in millions

	12 months ended	Dec 31, 2018		Dec 31, 2017		Dec 31, 2016		Dec 31, 2015		Dec 31, 2014
	Net income
	Depreciation and amortization
	Impairments
	Accretion on discounted liabilities
	Deferred income taxes
	Undistributed equity earnings
	Net gain on dispositions
	Gain on consolidation of business
	Income from discontinued operations
	Other
	Accounts and notes receivable
	Inventories
	Prepaid expenses and other current assets
	Accounts payable
	Taxes and other accruals
	Working capital adjustments
	Adjustments to reconcile net income to net cash provided by operating activities
	Net cash provided by operating activities
	Capital expenditures and investments
	Proceeds from asset dispositions
	Advances/loans, related parties
	Collection of advances/loans, related parties
	Restricted cash received from consolidation of business
	Other
	Net cash used in investing activities
	Issuance of debt
	Repayment of debt
	Issuance of common stock
	Repurchase of common stock
	Share exchange, PSPI transaction
	Dividends paid on common stock
	Distributions to noncontrolling interests
	Net proceeds from issuance of Phillips 66 Partners LP common and preferred units
	Other
	Net cash used in financing activities
	Net cash provided by discontinued operating activities
	Net cash used in discontinued investing activities
	Net cash provided by discontinued operations
	Effect of exchange rate changes on cash, cash equivalents and restricted cash
	Net change in cash, cash equivalents and restricted cash
	Cash, cash equivalents and restricted cash at beginning of year
	Cash, cash equivalents and restricted cash at end of year

Based on: 10-K (filing date: 2019-02-22), 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).

Item	Description	The company
Net cash provided by operating activities	Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.	Phillips 66’s net cash provided by operating activities increased from 2016 to 2017 and from 2017 to 2018.
Net cash used in investing activities	Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.	Phillips 66’s net cash used in investing activities increased from 2016 to 2017 but then slightly declined from 2017 to 2018 not reaching 2016 level.
Net cash used in financing activities	Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.	Phillips 66’s net cash used in financing activities declined from 2016 to 2017 and from 2017 to 2018.

	Phillips 66	Other companies (not purchased previously)
Financial Statements
Common-Size Financial Statements
Ratios
Relative Valuation
Discounted Cash Flow (DCF) Valuation
Long-term Trends
Analysis
Financial Reporting Quality

	All companies
Financial Statements
Common-Size Financial Statements
Ratios
Relative Valuation
Discounted Cash Flow (DCF) Valuation
Long-term Trends
Analysis
Financial Reporting Quality