What is Phillips 66's midstream — D&A?

Phillips 66 (PSX) reported midstream — D&A of $284M in Q2 2026.

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

Phillips 66's midstream — D&A increased by 9.2% year-over-year, from $260M to $284M.

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

Over 3 years (2022 to 2025), Phillips 66's midstream — D&A has grown at a 22.0% compound annual growth rate (CAGR), from $567M to $1.03B.

What does midstream — D&A mean?

The systematic allocation of the cost of tangible and intangible midstream assets, such as pipelines, storage tanks, and processing facilities, over their useful lives. This non-cash expense reflects the wear and tear or obsolescence of capital-intensive infrastructure.

Phillips 66 (PSX) Midstream — D&A

Screener

Other segment segments

Refining

$221M-50.1%

M&S

$33M—

Renewable Fuels

$24M+4.3%

Chemicals

$0—

Similar metrics at other companies

MPCMidstream — D&A

$382M+8.8%

UGIMidstream & Marketing — D&A

$22M+10.0%

ARAntero Midstream — D&A

$37.38M+12.0%

MYRGT&D — D&A

$15.92M+11.7%

TBLAD&A

$7.31M-21.7%

BCOD&A

$79.1M+32.3%

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:DepreciationDepletionAndAmortization.

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
Purchased crude oil and products	4,639	—	31,453	31,354	2,074	—	(25,856)	43,664
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

Item 1. FINANCIAL STATEMENTS

FAQ

What is Phillips 66's midstream — D&A?: Phillips 66 (PSX) reported midstream — D&A of $284M in Q2 2026.
How has Phillips 66's midstream — D&A changed year-over-year?: Phillips 66's midstream — D&A increased by 9.2% year-over-year, from $260M to $284M.
What is the long-term trend for Phillips 66's midstream — D&A?: Over 3 years (2022 to 2025), Phillips 66's midstream — D&A has grown at a 22.0% compound annual growth rate (CAGR), from $567M to $1.03B.
What does midstream — D&A mean?: The systematic allocation of the cost of tangible and intangible midstream assets, such as pipelines, storage tanks, and processing facilities, over their useful lives. This non-cash expense reflects the wear and tear or obsolescence of capital-intensive infrastructure.