Statement of Comprehensive Income
Comprehensive income is the change in equity (net assets) of a business enterprise during a period from transactions and other events and circumstances from non-owners sources. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners.
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- Common-Size Balance Sheet: Assets
- Analysis of Solvency Ratios
- Analysis of Reportable Segments
- Price to FCFE (P/FCFE)
- Present Value of Free Cash Flow to Equity (FCFE)
- Net Profit Margin since 2012
- Current Ratio since 2012
- Price to Earnings (P/E) since 2012
- Price to Sales (P/S) since 2012
- Aggregate Accruals
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Phillips 66, consolidated statement of comprehensive income
US$ in millions
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).
- Net Income
- Net income displayed significant volatility over the five-year period. It started at 4,280 million US dollars in 2015, dropped sharply to 1,644 million in 2016, then substantially increased to 5,248 million in 2017. This was followed by a moderate rise to 5,873 million in 2018 before declining again to 3,377 million in 2019. Overall, the data shows large fluctuations with peaks in 2017 and 2018.
- Defined Benefit Plans, Net of Income Taxes
- This item showed alternating positive and negative values with relatively smaller magnitudes compared to net income. It started modestly positive at 34 million in 2015, turned negative in 2016 (-51 million), then became positive again in 2017 and 2018 (115 million and 126 million respectively), before falling to -91 million in 2019. This indicates some volatility in pension plan-related accounting impacts.
- Foreign Currency Translation Adjustments, Net of Income Taxes
- Exchange rate movements had a variable impact on comprehensive income. Negative adjustments were recorded in 2015 (-156 million), 2016 (-296 million), and 2018 (-202 million). Positive impacts occurred in 2017 (259 million) and 2019 (95 million). The irregular pattern points to varying foreign currency translation effects over time.
- Hedging Activities, Net of Income Taxes
- Hedging activities contributed modestly during the period, with missing data for 2015. From 2016 through 2018, the net effects were positive but small (ranging from 1 to 5 million). In 2019, a minor negative impact of -11 million was noted, suggesting relatively stable but minor influence from hedging.
- Other Comprehensive Income (Loss), Net of Income Taxes
- Other comprehensive income or loss showed considerable volatility. Negative values were reported in 2015 (-122 million), 2016 (-342 million), 2018 (-75 million), and 2019 (-7 million), while 2017 was positive at 378 million. This pattern reflects fluctuations primarily driven by foreign currency translation and defined benefit plan adjustments.
- Comprehensive Income
- Comprehensive income largely mirrored the trends in net income with similar volatility. It began at 4,158 million in 2015, dropped significantly to 1,302 million in 2016, peaked at 5,626 million in 2017, slightly decreased to 5,798 million in 2018, and declined sharply to 3,370 million in 2019.
- Comprehensive Income Attributable to Noncontrolling Interests
- The amount attributable to noncontrolling interests was consistently negative and increasing in absolute value over time. It moved from -53 million in 2015 to -301 million in 2019, indicating growing minority interests or losses allocated to them.
- Comprehensive Income Attributable to Phillips 66
- This measure reflected the overall comprehensive income trends for the company. Starting at 4,105 million in 2015, it declined sharply to 1,213 million in 2016, increased substantially to 5,484 million in 2017, remained relatively stable at 5,520 million in 2018, before falling to 3,069 million in 2019. The data suggests a period of recovery and strength from 2017 through 2018, followed by a downturn in 2019.