Phillips 66 (PSX) FY2014 results: revenue $161.2 billion, down 6.1% on the year
Phillips 66 (PSX) reported revenue of $161.2 billion for fiscal 2014, the year ended 31 December 2014, down 6.1% on the year before. Net income was $4.8 billion, up 27.8%, and diluted earnings per share $8.33. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2015.
Revenue
$161.2 billion
-6.1% on the year
FY2010FY2014
Operating margin
n/a
FY2010FY2014
Net income
$4.8 billion
+27.8% on the year
FY2010FY2014
Diluted EPS
$8.33
+38.4% on the year
FY2010FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
161,212
171,596
179,460
-6.1%
Research and development
62.0
69.0
70.0
-10.1%
Selling, general and administrative
1,663
1,478
1,703
+12.5%
Pre-tax income
5,745
5,526
6,556
+4.0%
Income tax
1,654
1,844
2,473
-10.3%
Effective tax rate
28.8%
33.4%
37.7%
Net income
4,762
3,726
4,124
+27.8%
Net margin
3.0%
2.2%
2.3%
Diluted EPS
$8.33
$6.02
$6.48
+38.4%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
3,529
6,027
4,296
-41.4%
Cash from investing
-2,296
-444
-1,535
Cash from financing
-1,362
-3,679
699
Depreciation and amortisation
995
947
906
+5.1%
Share-based compensation
134
132
94.0
+1.5%
Buybacks
2,282
2,246
356
+1.6%
Dividends paid
1,062
807
282
+31.6%
Dividend per share
$1.89
$1.33
$0.45
+42.4%
Diluted shares, weighted
572m
619m
637m
-7.7%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
21,590
21,950
20,775
-1.6%
Non-controlling interest
447
442
31.0
+1.1%
Debt
8,635
6,131
6,961
+40.8%
Other liabilities
18,069
21,275
20,306
-15.1%
Total liabilities and equity
48,741
49,798
48,073
-2.1%
Fixed assets
17,346
15,398
15,407
+12.7%
Goodwill
3,274
3,096
3,344
+5.7%
Intangible assets
900
698
724
+28.9%
Cash and equivalents
5,207
5,400
3,474
-3.6%
Receivables
2.0
n/a
n/a
Inventory
3,397
3,354
3,430
+1.3%
Other assets
18,615
21,852
21,694
-14.8%
Total assets
48,741
49,798
48,073
-2.1%
10-K for the year ended 31 December 2014, filed 20 February 2015: the filing.