Phillips 66 PSX M&S — D&A

Other segment segments

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Questions, answered.

What is Phillips 66's M&S — D&A?

Phillips 66 (PSX) reported M&S — D&A of $20M in Q1 2026.

How has Phillips 66's M&S — D&A changed year-over-year?

Phillips 66's M&S — D&A decreased by 0.0% year-over-year, from $20M to $20M.

What is the long-term trend for Phillips 66's M&S — D&A?

Over 3 years (2022 to 2025), Phillips 66's M&S — D&A has grown at a -4.1% compound annual growth rate (CAGR), from $110M to $97M.

What does M&S — D&A mean?

This is the systematic allocation of the cost of tangible and intangible assets within the Marketing & Specialties segment over their useful lives. It reflects the non-cash expense associated with the wear and tear of refineries, pipelines, and marketing infrastructure. This metric is essential for calculating the segment's true economic profitability and capital intensity.