Phillips 66 Files 2023 Annual Report on Form 10-K

TL;DR

<b>Phillips 66 has filed its 2023 annual report (10-K) detailing its financial performance and operations for the fiscal year ending December 31, 2023.</b>

AI Summary

Phillips 66 (PSX) filed a Annual Report (10-K) with the SEC on February 21, 2024. Phillips 66 filed its 2023 Form 10-K on February 21, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal business is Petroleum Refining. The filing includes financial data for the fiscal years 2021, 2022, and 2023. Phillips 66 is incorporated in Delaware and headquartered in Houston, Texas.

Why It Matters

For investors and stakeholders tracking Phillips 66, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Phillips 66's financial health, operational performance, and strategic positioning within the petroleum refining industry for the past fiscal year. Investors and analysts can use this report to assess the company's profitability, debt levels, assets, and potential risks, aiding in investment decisions and competitive analysis.

Risk Assessment

Risk Level: medium — Phillips 66 shows moderate risk based on this filing. The filing is a standard annual report (10-K), which is routine for public companies. However, the petroleum refining industry is subject to significant market and regulatory risks that could impact financial performance.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand Phillips 66's performance drivers and potential headwinds in the refining sector.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed Period of Report)
• 2024-02-21 — Filing Date (Filed As Of Date)
• 195 — Public Document Count (Document Count)
• 2911 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• Phillips 66 (company) — Filer
• 2023 (date) — Fiscal Year End
• 2024-02-21 (date) — Filed As Of Date
• Houston, TX (location) — Business Address City, State
• DE (location) — State of Incorporation
• 2911 (industry_code) — Standard Industrial Classification
• USD (currency) — Currency Unit
• DCP Midstream LP (company) — Subsidiary/Affiliate Mentioned

FAQ

Risk Factors

• Market Conditions [high — market]: The company's financial results are significantly influenced by market conditions, including crude oil and refined product prices, refining margins, and supply/demand dynamics.
• Environmental Regulations [medium — regulatory]: Operations are subject to extensive federal, state, and local environmental laws and regulations, which may require significant capital expenditures and impact operating costs.
• Operational Risks [medium — operational]: The company faces risks related to the operation of its refineries and midstream assets, including unplanned outages, safety incidents, and supply chain disruptions.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-02-21: Filing Date — Date the 10-K was officially filed with the SEC.

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 Par Value PSX New York Stock Exchange
• $95 — ed on the closing price on that date of $95.38, was $ 42.4 billion. The registrant,
• $41.75 — was converted into the right to receive $41.75 per common unit in cash. The DCP LP Mer
• $275 million — exas Gateway Terminal for approximately $275 million. On February 28, 2023, we closed on the
• $76 million — Belle Chasse Terminal for approximately $76 million. Transportation We own or lease var

Filing Documents

• psx-20231231.htm (10-K) — 4788KB
• psx-20231231_ex1035.htm (EX-10.35) — 96KB
• psx-20231231_ex1036.htm (EX-10.36) — 68KB
• psx-20231231_ex1037.htm (EX-10.37) — 9KB
• dcpexecutivedeferredcomp.htm (EX-10.38) — 4KB
• psx-2023_12x31xex21.htm (EX-21) — 110KB
• psx-20231231_ex22.htm (EX-22) — 10KB
• psx-20231231_ex231.htm (EX-23.1) — 5KB
• psx-20231231_ex232.htm (EX-23.2) — 2KB
• psx-20231231_ex311.htm (EX-31.1) — 9KB
• psx-20231231_ex312.htm (EX-31.2) — 10KB
• psx-20231231_ex32.htm (EX-32) — 6KB
• psx-20231231_ex97.htm (EX-97) — 10KB
• dcpexecutivedeferredcomp001.jpg (GRAPHIC) — 399KB
• dcpexecutivedeferredcomp002.jpg (GRAPHIC) — 505KB
• dcpexecutivedeferredcomp003.jpg (GRAPHIC) — 641KB
• dcpexecutivedeferredcomp004.jpg (GRAPHIC) — 615KB
• dcpexecutivedeferredcomp005.jpg (GRAPHIC) — 558KB
• dcpexecutivedeferredcomp006.jpg (GRAPHIC) — 539KB
• dcpexecutivedeferredcomp007.jpg (GRAPHIC) — 557KB
• dcpexecutivedeferredcomp008.jpg (GRAPHIC) — 519KB
• dcpexecutivedeferredcomp009.jpg (GRAPHIC) — 369KB
• dcpexecutivedeferredcomp010.jpg (GRAPHIC) — 321KB
• dcpexecutivedeferredcomp011.jpg (GRAPHIC) — 306KB
• dcpexecutivedeferredcomp012.jpg (GRAPHIC) — 368KB
• dcpexecutivedeferredcomp013.jpg (GRAPHIC) — 60KB
• image_0.jpg (GRAPHIC) — 1KB
• image_0a.jpg (GRAPHIC) — 1KB
• psx-20231231_g1.jpg (GRAPHIC) — 146KB
• 0001534701-24-000078.txt (&nbsp;) — 32158KB
• psx-20231231.xsd (EX-101.SCH) — 145KB
• psx-20231231_cal.xml (EX-101.CAL) — 204KB
• psx-20231231_def.xml (EX-101.DEF) — 853KB
• psx-20231231_lab.xml (EX-101.LAB) — 1662KB
• psx-20231231_pre.xml (EX-101.PRE) — 1246KB
• psx-20231231_htm.xml (XML) — 4442KB

Signatures

Signatures 172 Table of Contents Index to Financial Statements Unless otherwise indicated, the "company," "we," "our," "us" and "Phillips 66" are used in this report to refer to the businesses of Phillips 66 and its consolidated subsidiaries. This Annual Report on Form 10-K contains forward-looking statements including, without limitation, statements relating to the company's plans, strategies, objectives, expectations and intentions that are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. The words "anticipate," "estimate," "believe," "budget," "continue," "could," "intend," "may," "plan," "potential," "predict," "seek," "should," "will," "would," "expect," "objective," "projection," "forecast," "goal," "guidance," "outlook," "effort," "target" and similar expressions often identify forward-looking statements, but the absence of these words does not mean a statement is not forward-looking. The company does not undertake to update, revise or correct any of the forward-looking information unless required to do so pursuant to applicable law. Readers are cautioned that such forward-looking statements should be read in conjunction with the company's disclosures under the headings "Risk Factors" and "CAUTIONARY STATEMENT FOR THE PURPOSES OF THE SAFE HARBOR' PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995." PART I Items 1 and 2. BUSINESS AND PROPERTIES CORPORATE STRUCTURE Phillips 66, headquartered in Houston, Texas, was incorporated in Delaware in 2011 in connection with, and in anticipation of, a restructuring of ConocoPhillips that separated its downstream businesses into an independent, publicly traded company named Phillips 66. The two companies were separated by ConocoPhillips distributing to its stockholders all the shares of common stock of Phillips 66 after the market closed on April 30, 2012 (the separation). Phillips 66 stock trades on the New York Stock Exchange under the

View Full Filing

View this 10-K filing on SEC EDGAR