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 investments | 7 | 286 | 1 | 185 | 2 | 48 | 8 | ||
| Cash and cash equivalents | 7 | 286 | 1 | 185 | 2 | 48 | 8 | ||
| Receivables | 106 | 105 | 95 | 83 | 76 | 21 | 22 | ||
| Prepaid expense | 9 | 4 | |||||||
| Other current assets | 2 | 3 | |||||||
| Other undisclosed current assets | 27 | 23 | 33 | 15 | 18 | 6 | 4 | ||
| Total current assets: | 140 | 414 | 129 | 292 | 100 | 77 | 36 | ||
| Noncurrent Assets | |||||||||
| Property, plant and equipment | 3,639 | 3,349 | 3,052 | 2,918 | 2,675 | 492 | 485 | ||
| Long-term investments and receivables | 3,244 | 2,961 | 2,448 | 1,932 | 1,142 | 945 | |||
| Long-term investments | 3,244 | 2,961 | 2,448 | 1,932 | 1,142 | 945 | |||
| Intangible assets, net (including goodwill) | 185 | 185 | 185 | 185 | 185 | 3 | 11 | ||
| Goodwill | 185 | 185 | 185 | 185 | 185 | 3 | 3 | ||
| Intangible assets, net (excluding goodwill) | 8 | ||||||||
| Other noncurrent assets | 50 | 52 | 2 | 1 | 1 | ||||
| Deferred tax assets, net | ✕ | ✕ | 1 | ||||||
| Other undisclosed noncurrent assets | 5 | 7 | 5 | 6 | 6 | ||||
| Total noncurrent assets: | 7,118 | 6,547 | 5,690 | 5,042 | 4,009 | 1,446 | 503 | ||
| TOTAL ASSETS: | 7,258 | 6,961 | 5,819 | 5,334 | 4,109 | 1,524 | 540 | ||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 119 | 136 | 133 | 88 | 67 | 29 | 15 | ||
| Accounts payable | 73 | 84 | 88 | 39 | 31 | 8 | 10 | ||
| Taxes payable | 11 | 10 | 9 | 15 | 10 | 5 | 3 | ||
| Interest and dividends payable | 35 | 42 | 36 | 34 | 26 | 15 | 2 | ||
| Deferred revenue | 27 | 16 | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Debt | 465 | 25 | 50 | 25 | 15 | ||||
| Accrued environmental loss contingencies | 1 | ||||||||
| Due to related parties | 19 | 19 | 22 | 21 | 12 | 4 | 18 | ||
| Contract with customer, liability | ✕ | ✕ | 60 | ✕ | ✕ | ✕ | ✕ | ||
| Other liabilities | 3 | 3 | 5 | 2 | 3 | 0 | 0 | ||
| Other undisclosed current liabilities | 35 | 14 | 4 | 1 | |||||
| Total current liabilities: | 633 | 199 | 270 | 171 | 111 | 38 | 34 | ||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 3,444 | 3,491 | 2,998 | 2,920 | 2,396 | 1,091 | 18 | ||
| Long-term debt, excluding current maturities | 3,444 | 3,491 | 2,998 | 2,920 | 2,396 | 1,091 | 18 | ||
| Liabilities, other than long-term debt | 90 | 437 | 23 | 66 | 36 | 5 | 416 | ||
| Contract with customer, liability | ✕ | ✕ | 23 | ✕ | ✕ | ✕ | ✕ | ||
| Asset retirement obligations | 9 | 3 | 4 | ||||||
| Deferred tax liabilities, net | ✕ | ✕ | 2 | 0 | |||||
| Accrued environmental loss contingencies | 2 | 1 | |||||||
| Due to related parties | 412 | ||||||||
| Liabilities of business transferred under contractual arrangement | 343 | ||||||||
| Other liabilities | 90 | 94 | 66 | 23 | 1 | 1 | |||
| Other undisclosed noncurrent liabilities | 19 | 16 | |||||||
| Total noncurrent liabilities: | 3,534 | 3,928 | 3,040 | 3,002 | 2,432 | 1,096 | 434 | ||
| Total liabilities: | 4,167 | 4,127 | 3,310 | 3,173 | 2,543 | 1,133 | 467 | ||
| 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' equity | 3,092 | 2,835 | 2,510 | 2,162 | 1,567 | 392 | 72 | ||
| Total stockholders' equity: | 3,091 | 2,834 | 2,509 | 2,161 | 1,566 | 390 | 72 | ||
| TOTAL LIABILITIES AND EQUITY: | 7,258 | 6,961 | 5,819 | 5,334 | 4,109 | 1,524 | 540 | ||
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, net | ✕ | ✕ | ✕ | 934 | 758 | 266 | 229 | |
| Operating lease, lease income | 930 | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Operating leases, income statement, lease revenue | ✕ | ✕ | 599 | ✕ | ✕ | ✕ | ✕ | |
| Gross profit: | 1,038 | 1,126 | 33 | 946 | 759 | 271 | 229 | |
| 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): | 527 | 652 | (386) | 555 | 477 | 182 | 151 | |
| Interest and debt expense | (121) | (108) | (115) | (101) | (52) | (34) | (5) | |
| Income (loss) from continuing operations before equity method investments, income taxes: | 406 | 544 | (501) | 454 | 425 | 148 | 146 | |
| Income from equity method investments | 493 | 535 | 439 | 223 | 114 | 77 | ||
| Other undisclosed income (loss) from continuing operations before income taxes | (88) | (153) | 862 | (149) | (129) | (31) | (20) | |
| Income from continuing operations before income taxes: | 811 | 926 | 800 | 528 | 410 | 195 | 125 | |
| Income tax expense | (3) | (3) | (4) | (4) | (2) | (0) | (1) | |
| Net income: | 808 | 923 | 796 | 524 | 408 | 194 | 124 | |
| Net loss attributable to noncontrolling interest | (17) | |||||||
| Net income attributable to parent: | 791 | 923 | 796 | 524 | 408 | 194 | 124 | |
| Preferred stock dividends and other adjustments | (5) | |||||||
| Net income available to common stockholders, diluted: | 791 | 923 | 796 | 524 | 408 | 194 | 120 | |
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: | 808 | 923 | 796 | 524 | 408 | 194 | 124 | |
| Comprehensive income: | 808 | 923 | 796 | 524 | 408 | 194 | 124 | |
| 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: | 791 | 923 | 796 | 524 | 409 | 194 | 124 | |
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.