What is Phillips 66's deferred taxes?

Phillips 66 (PSX) reported deferred taxes of $67M in Q1 2026.

How has Phillips 66's deferred taxes changed year-over-year?

Phillips 66's deferred taxes increased by 150.4% year-over-year, from -$133M to $67M.

What is the long-term trend for Phillips 66's deferred taxes?

Over 3 years (2021 to 2025), Phillips 66's deferred taxes has grown at a -15.0% compound annual growth rate (CAGR), from -$290M to $178M.

What does deferred taxes mean?

Non-cash deferred tax expense or benefit representing the change in deferred tax assets/liabilities during the period.

Phillips 66 PSX Deferred Taxes

Deferred Taxes at other companies

Cabot CorporationCBT

-$16M—

Travel + LeisureTNL

$29M+31.8%

HES

Hess MidstreamHESM

$28.2M+23.1%

Main Street CapitalMAIN

$3.96M-19.0%

Warrior Met CoalHCC

-$1.87M+71.3%

Dave, Inc.DAVE

$22K—

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$67.78B+44.5%

P/E16.4×-10.9×

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 us-gaap:DeferredIncomeTaxExpenseBenefit.

The official record: Phillips 66’s 10-Q, filed April 29, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Phillips 66's deferred taxes?: Phillips 66 (PSX) reported deferred taxes of $67M in Q1 2026.
How has Phillips 66's deferred taxes changed year-over-year?: Phillips 66's deferred taxes increased by 150.4% year-over-year, from -$133M to $67M.
What is the long-term trend for Phillips 66's deferred taxes?: Over 3 years (2021 to 2025), Phillips 66's deferred taxes has grown at a -15.0% compound annual growth rate (CAGR), from -$290M to $178M.
What does deferred taxes mean?: Non-cash deferred tax expense or benefit representing the change in deferred tax assets/liabilities during the period.