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Phillips 66 PSX Asset retirement obligations and accrued environmental costs

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Other financials

Income statement

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Revenue$32.5B+6.9%
Gross profit$3.3B+20.0%
Net income$207.0M-57.5%
EPS (diluted)$0.51-56.8%

Balance sheet

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Cash & equivalents$5.2B+246%
Total debt$21.7B+0.7%
Total equity$28.5B+4.6%
Total assets$84.1B+17.0%

Cash flow

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Operating cash flow-$2.3B-1,311%

Valuation

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Market cap$68.86B+35.5%
P/E16.7×-10.7×
P/S0.5×+0.1×

Profitability

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Gross margin12.5%+3.4pp
Net margin3.1%+1.7pp

Returns & leverage

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Return on equity14.8%+8.3pp
Debt / equity0.7×0.0×
Current ratio1.1×-0.1×

Where this comes from

Reported directly by Phillips 66 in its filing.

Tagged under the XBRL concept psx:DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAssetRetirementObligationsAndEnvironmentalLiabilities.

The official record: Phillips 66’s 10-K, filed February 20, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Phillips 66's asset retirement obligations and accrued environmental costs?
Phillips 66 (PSX) reported asset retirement obligations and accrued environmental costs of $422M in Q4 2025.
How has Phillips 66's asset retirement obligations and accrued environmental costs changed year-over-year?
Phillips 66's asset retirement obligations and accrued environmental costs increased by 41.1% year-over-year, from $299M to $422M.
What is the long-term trend for Phillips 66's asset retirement obligations and accrued environmental costs?
Over 5 years (2020 to 2025), Phillips 66's asset retirement obligations and accrued environmental costs has grown at a 29.9% compound annual growth rate (CAGR), from $114M to $422M.
What does asset retirement obligations and accrued environmental costs mean?
This metric captures deferred tax assets related to reserves for asset retirement obligations (AROs) and environmental costs. These costs are often accrued for financial reporting before they are deductible for tax purposes. It reflects the future tax benefit the company will receive when these environmental liabilities are settled.