Phillips 66 Partners LP (PSXP) Financial Statements (2024 and earlier)

Company Profile

Business Address 2331 CITYWEST BLVD.
HOUSTON, TX 77042
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 461 - Pipelines, Except Natural Gas (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments7,000286,0001,000185,0002,00048,000
Cash and cash equivalents7,000286,0001,000185,0002,00048,000
Receivables106,000105,00095,00083,00076,00021,400
Prepaid expense    9,0004,000 
Other current assets      2,200
Other undisclosed current assets27,00023,00033,00015,00018,0005,800
Total current assets:140,000414,000129,000292,000100,00077,400
Noncurrent Assets
Property, plant and equipment3,639,0003,349,0003,052,0002,918,0002,675,000492,400
Long-term investments and receivables3,244,0002,961,0002,448,0001,932,0001,142,000944,900
Long-term investments3,244,0002,961,0002,448,0001,932,0001,142,000944,900
Intangible assets, net (including goodwill)185,000185,000185,000185,000185,0002,500
Goodwill185,000185,000185,000185,000185,0002,500
Other noncurrent assets50,00052,000  2,000700
Other undisclosed noncurrent assets   5,0007,0005,0005,600
Total noncurrent assets:7,118,0006,547,0005,690,0005,042,0004,009,0001,446,100
TOTAL ASSETS:7,258,0006,961,0005,819,0005,334,0004,109,0001,523,500
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities119,000136,000133,00088,00067,00028,500
Interest and dividends payable35,00042,00036,00034,00026,00015,100
Taxes payable11,00010,0009,00015,00010,0005,100
Accounts payable73,00084,00088,00039,00031,0008,300
Deferred revenue27,00016,000
Debt465,00025,00050,00025,00015,000 
Accrued environmental loss contingencies      800
Due to related parties19,00019,00022,00021,00012,0003,900
Contract with customer, liability60,000
Other liabilities3,0003,0005,0002,0003,000100
Other undisclosed current liabilities    35,00014,0004,400
Total current liabilities:633,000199,000270,000171,000111,00037,700
Noncurrent Liabilities
Long-term debt and lease obligation3,444,0003,491,0002,998,0002,920,0002,396,0001,090,700
Long-term debt, excluding current maturities3,444,0003,491,0002,998,0002,920,0002,396,0001,090,700
Liabilities, other than long-term debt90,000437,00023,00066,00036,0005,000
Contract with customer, liability23,000
Asset retirement obligations     9,0003,400
Deferred tax liabilities, net  2,000300
Accrued environmental loss contingencies     2,000800
Liabilities of business transferred under contractual arrangement  343,000    
Other liabilities90,00094,000 66,00023,000500
Other undisclosed noncurrent liabilities   19,00016,000  
Total noncurrent liabilities:3,534,0003,928,0003,040,0003,002,0002,432,0001,095,700
Total liabilities:4,167,0004,127,0003,310,0003,173,0002,543,0001,133,400
Equity
Equity, attributable to parent(1,000)(1,000)(1,000)(1,000)(1,000)(1,500)
Accumulated other comprehensive loss(1,000)(1,000)(1,000)(1,000)(1,000)(1,500)
Other undisclosed equity3,092,0002,835,0002,510,0002,162,0001,567,000391,600
Total equity:3,091,0002,834,0002,509,0002,161,0001,566,000390,100
TOTAL LIABILITIES AND EQUITY:7,258,0006,961,0005,819,0005,334,0004,109,0001,523,500

Income Statement (P&L) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues1,038,0001,126,00033,000946,000759,000271,000
Operating leases, income statement, lease revenue599,000
Revenue, net934,000758,000265,600
Operating lease, lease income  930,000
Gross profit:1,038,0001,126,00033,000946,000759,000271,000
Operating expenses(504,000)(472,000)(418,000)(390,000)(281,000)(88,800)
Other operating expense, net
(Other Expenses)
(7,000)(2,000)(1,000)(1,000)(1,000)(100)
Operating income (loss):527,000652,000(386,000)555,000477,000182,100
Interest and debt expense(121,000)(108,000)(115,000)(101,000)(52,000)(33,900)
Income (loss) from continuing operations before equity method investments, income taxes:406,000544,000(501,000)454,000425,000148,200
Income from equity method investments493,000535,000439,000223,000114,00077,100
Other undisclosed income (loss) from continuing operations before income taxes(88,000)(153,000)862,000(149,000)(129,000)(30,800)
Income from continuing operations before income taxes:811,000926,000800,000528,000410,000194,500
Income tax expense(3,000)(3,000)(4,000)(4,000)(2,000)(300)
Income from continuing operations:808,000923,000796,000524,000408,000194,200
Income before gain (loss) on sale of properties:808,000923,000796,000524,000408,000194,200
Net income:808,000923,000796,000524,000408,000194,200
Net loss attributable to noncontrolling interest(17,000)     
Net income available to common stockholders, diluted:791,000923,000796,000524,000408,000194,200

Comprehensive Income ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income:808,000923,000796,000524,000408,000194,200
Other comprehensive loss      
Comprehensive income:808,000923,000796,000524,000408,000194,200
Comprehensive loss, net of tax, attributable to noncontrolling interest(17,000)     
Other undisclosed comprehensive income, net of tax, attributable to parent     1,000 
Comprehensive income, net of tax, attributable to parent:791,000923,000796,000524,000409,000194,200

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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