What is Phillips 66's M&S — impairments?

Phillips 66 (PSX) reported M&S — impairments of $0 in Q2 2026.

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

Phillips 66's M&S — impairments decreased by 100.0% year-over-year, from $1M to $0.

What does M&S — impairments mean?

This represents the write-down of the carrying value of assets within the Marketing & Specialties segment when their fair value falls below their book value. It is a non-cash charge that signals a reduction in the expected future economic benefit of specific assets. Frequent or large impairments can indicate poor capital allocation or deteriorating market conditions for specific assets.

Phillips 66 (PSX) M&S — Impairments

Screener

Other segment segments

Refining

$1M-66.7%

Chemicals

$0—

Midstream

$0—

Renewable Fuels

$0—

Similar metrics at other companies

LYBOther — Impairments

$0—

LYBTechnology — Impairments

$0—

LYBAPS — Impairments

$0—

LYBI&D — Impairments

$0—

LYBO&P- Americas — Impairments

$0—

LYBO&P- EAI — Impairments

$15M—

Other financials

Income statement

See full

Revenue$51.0B+53.1%

Gross profit$7.3B+72.9%

Net income$3.8B+339%

EPS (diluted)$9.55+344%

Balance sheet

See full

Cash & equivalents$4.1B+290%

Total debt$20.6B—

Total equity$31.5B+14.6%

Total assets$81.8B+7.7%

Cash flow

See full

Operating cash flow$7.3B+759%

Valuation

See full

Market cap$81.36B+70.1%

Enterprise value$97.83B—

P/E11.5×-16.4×

P/S0.5×+0.2×

Profitability

See full

Gross margin13.1%+3.1pp

Net margin4.7%+3.4pp

Returns & leverage

See full

Return on equity24%+18.0pp

Debt / equity0.7×—

Current ratio1.3×+0.2×

Where this comes from

Reported directly by Phillips 66 in its filing.

Tagged under the XBRL concept us-gaap:AssetImpairmentCharges.

The source filing: Phillips 66’s 10-Q, filed August 5, 2026.

Filed: Aug 5, 2026, 4:43 PM EDT
Fiscal quarter: Q2 FY2026
Calendar quarter: Q2 2026
Accession: 0001534701-26-000032

Line item	Millions of Dollars / Operating Segments / Midstream	Millions of Dollars / Operating Segments / Chemicals	Millions of Dollars / Operating Segments / Refining	Millions of Dollars / Operating Segments / M&S	Millions of Dollars / Operating Segments / Renewable Fuels	Millions of Dollars / Corporate and Other	Millions of Dollars / Consolidating Adjustments	Millions of Dollars / Total Consolidated
Operating expenses*	568	1	1,144	22	79	27	(31)	1,810
Selling, general and administrative expenses*	54	(2)	25	332	19	110	—	538
Depreciation and amortization	284	—	221	26	24	30	—	585
Impairments	—	—	1	—	—	8	—	9
Taxes other than income taxes	60	—	88	2	(41)	18	—	127
Interest and debt expense	—	—	—	—	—	314	—	314
Other segment items**	3	—	18	(1)	(1)	7	—	26
Total Costs and Expenses	5,608	(1)	32,950	31,735	2,154	514	(25,887)	47,073

Item 1. FINANCIAL STATEMENTS

FAQ

What is Phillips 66's M&S — impairments?: Phillips 66 (PSX) reported M&S — impairments of $0 in Q2 2026.
How has Phillips 66's M&S — impairments changed year-over-year?: Phillips 66's M&S — impairments decreased by 100.0% year-over-year, from $1M to $0.
What does M&S — impairments mean?: This represents the write-down of the carrying value of assets within the Marketing & Specialties segment when their fair value falls below their book value. It is a non-cash charge that signals a reduction in the expected future economic benefit of specific assets. Frequent or large impairments can indicate poor capital allocation or deteriorating market conditions for specific assets.