Asset write-downs
Phillips 66 Asset write-downs decreased by 89.9% to $8.00M in Q1 2026 compared to the prior quarter. Year-over-year, this metric declined by 69.2%, from $26.00M to $8.00M. Over 4 years (FY 2021 to FY 2025), Asset write-downs shows a downward trend with a -8.3% CAGR. This is a positive signal — lower values indicate better performance for this metric.
Analysis
How to read this metric
High impairment charges suggest poor past investment decisions or deteriorating market conditions for specific business units.
Detailed definition
These are non-cash charges recognized when the carrying value of an asset exceeds its fair market value. They indicate t...
Peer comparison
Common in insurance and financial services during economic downturns; peers will report these when asset valuations decline.
operating_asset_impairment_chargesHistorical Data
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $0.00 | $1.30B | $2.00M | $0.00 | $2.00M | $0.00 | $58.00M | $8.00M | $4.00M | $3.00M | $9.00M | $165.00M | $225.00M | $29.00M | $37.00M | $26.00M | $4.00M | $951.00M | $79.00M | $8.00M |
| QoQ Change | — | — | -99.8% | -100.0% | — | -100.0% | — | -86.2% | -50.0% | -25.0% | +200.0% | >999% | +36.4% | -87.1% | +27.6% | -29.7% | -84.6% | >999% | -91.7% | -89.9% |
| YoY Change | — | — | — | — | — | -100.0% | >999% | — | +100.0% | — | -84.5% | >999% | >999% | +866.7% | +311.1% | -84.2% | -98.2% | >999% | +113.5% | -69.2% |
Business Segments — Refining
| Segment | Q3 '21 | Q2 '24 | Q3 '24 | Q1 '25 |
|---|---|---|---|---|
| Refining | $1.29B | $0.00 | $0.00 | $1.00M |
| Total | $1.30B | $225.00M | $29.00M | $26.00M |
Refining was previously reported and has since been discontinued or reclassified. Only currently active segments are shown in the chart.
Business Segments — Midstream
| Segment | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 |
|---|---|---|---|---|---|---|---|---|
| Midstream | $225.00M | $28.00M | $34.00M | $0.00 | $0.00 | $0.00 | $79.00M | $4.00M |
| Refining | $0.00 | $0.00 | $1.00M | $1.00M | $3.00M | $951.00M | $0.00 | $2.00M |
| Renewable Fuels | — | — | — | $0.00 | $0.00 | $0.00 | $0.00 | $2.00M |
| Chemicals | — | — | — | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| M&S | — | — | — | $0.00 | — | — | — | — |
| Total | $225.00M | $29.00M | $37.00M | $26.00M | $4.00M | $951.00M | $79.00M | $8.00M |
Asset write-downs at Other Companies
Frequently Asked Questions
- What is Phillips 66's asset write-downs?
- Phillips 66 (PSX) reported asset write-downs of $8.00M in Q1 2026.
- How has Phillips 66's asset write-downs changed year-over-year?
- Phillips 66's asset write-downs decreased by 69.2% year-over-year, from $26.00M to $8.00M.
- What is the long-term trend for Phillips 66's asset write-downs?
- Over 4 years (2021 to 2025), Phillips 66's asset write-downs has grown at a -8.3% compound annual growth rate (CAGR), from $1.50B to $1.06B.
- What does asset write-downs mean?
- A write-down in the value of assets that are no longer worth as much as previously recorded.