Phillips 66 Partners LP (PSXP) financial statements (2021 and earlier)

Company profile

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

Balance sheet (Statement of financial position) ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments728611852488
Cash and cash equivalents728611852488
Receivables1061059583762122
Prepaid expense   94  
Other current assets     23
Other undisclosed current assets272333151864
Total current assets:1404141292921007736
Noncurrent Assets
Property, plant and equipment3,6393,3493,0522,9182,675492485
Long-term investments and receivables3,2442,9612,4481,9321,142945 
Long-term investments3,2442,9612,4481,9321,142945 
Intangible assets, net (including goodwill)185185185185185311
Goodwill18518518518518533
Intangible assets, net (excluding goodwill)      8
Other noncurrent assets5052  211
Deferred tax assets, net    1
Other undisclosed noncurrent assets  57566
Total noncurrent assets:7,1186,5475,6905,0424,0091,446503
TOTAL ASSETS:7,2586,9615,8195,3344,1091,524540
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities11913613388672915
Accounts payable7384883931810
Taxes payable11109151053
Interest and dividends payable3542363426152
Deferred revenue2716
Debt46525502515  
Accrued environmental loss contingencies     1 
Due to related parties1919222112418
Contract with customer, liability60
Other liabilities3352300
Other undisclosed current liabilities   351441
Total current liabilities:6331992701711113834
Noncurrent Liabilities
Long-term debt and lease obligation3,4443,4912,9982,9202,3961,09118
Long-term debt, excluding current maturities3,4443,4912,9982,9202,3961,09118
Liabilities, other than long-term debt904372366365416
Contract with customer, liability23
Asset retirement obligations    934
Deferred tax liabilities, net  20 
Accrued environmental loss contingencies    21 
Due to related parties      412
Liabilities of business transferred under contractual arrangement 343     
Other liabilities9094 662311
Other undisclosed noncurrent liabilities  1916   
Total noncurrent liabilities:3,5343,9283,0403,0022,4321,096434
Total liabilities:4,1674,1273,3103,1732,5431,133467
Stockholders' equity
Stockholders' equity attributable to parent(1)(1)(1)(1)(1)(2) 
Accumulated other comprehensive loss(1)(1)(1)(1)(1)(2) 
Other undisclosed stockholders' equity3,0922,8352,5102,1621,56739272
Total stockholders' equity:3,0912,8342,5092,1611,56639072
TOTAL LIABILITIES AND EQUITY:7,2586,9615,8195,3344,1091,524540

Income statement (P&L) ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenue, net934758266229
Operating lease, lease income 930
Operating leases, income statement, lease revenue599
Gross profit:1,0381,12633946759271229
Operating expenses(504)(472)(418)(390)(281)(89)(78)
Other operating expense, net
(Other Expenses)
(7)(2)(1)(1)(1)(0)(0)
Operating income (loss):527652(386)555477182151
Interest and debt expense(121)(108)(115)(101)(52)(34)(5)
Income (loss) from continuing operations before equity method investments, income taxes:406544(501)454425148146
Income from equity method investments49353543922311477 
Other undisclosed income (loss) from continuing operations before income taxes(88)(153)862(149)(129)(31)(20)
Income from continuing operations before income taxes:811926800528410195125
Income tax expense(3)(3)(4)(4)(2)(0)(1)
Net income:808923796524408194124
Net loss attributable to noncontrolling interest(17)      
Net income attributable to parent:791923796524408194124
Preferred stock dividends and other adjustments      (5)
Net income available to common stockholders, diluted:791923796524408194120

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income:808923796524408194124
Comprehensive income:808923796524408194124
Comprehensive loss, net of tax, attributable to noncontrolling interest(17)      
Other undisclosed comprehensive income, net of tax, attributable to parent    1  
Comprehensive income, net of tax, attributable to parent:791923796524409194124

Statements sources

The financial statements are based on the company's filings with the 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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