Business Segments · Gross PP&E
Refining — Gross PP&E
Phillips 66 Refining — Gross PP&E decreased by 11.5% to $22.96B in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 1.9%, from $22.53B to $22.96B. Over 4 years (FY 2021 to FY 2025), Refining — Gross PP&E shows relatively stable performance with a -1.4% CAGR.
Analysis
StatementSegment
CategoryCapital Allocation
SignalContext dependent
VolatilityStable
First reportedQ4 2019
Last reportedQ1 2026
Rolls up toPP&E (Net)
How to read this metric
An increase suggests significant capital investment or expansion of refining capacity, while a decrease may indicate asset divestitures or impairments.
Detailed definition
Represents the total historical cost of property, plant, and equipment assets specifically allocated to the refining bus...
Peer comparison
Standard across energy peers as 'Segment Gross PP&E' or 'Refining Capital Base'.
Metric ID:
psx_segment_refining_gross_pp_eHistorical Data
20 periods
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $25.29B | $25.38B | $23.88B | $23.99B | $23.22B | $23.27B | $24.20B | $24.24B | $24.61B | $24.94B | $25.42B | $25.20B | $21.75B | $22.22B | $22.27B | $22.53B | $22.80B | $22.88B | $25.96B | $22.96B |
| QoQ Change | — | +0.3% | -5.9% | +0.5% | -3.2% | +0.2% | +4.0% | +0.1% | +1.5% | +1.4% | +1.9% | -0.9% | -13.7% | +2.2% | +0.2% | +1.1% | +1.2% | +0.3% | +13.4% | -11.5% |
| YoY Change | — | — | — | — | -8.2% | -8.3% | +1.3% | +1.0% | +6.0% | +7.2% | +5.0% | +4.0% | -11.6% | -10.9% | -12.4% | -10.6% | +4.8% | +3.0% | +16.5% | +1.9% |
Range$21.75B – $25.96B
CAGR-2.0%
Avg YoY Growth-0.7%
Median YoY Growth+1.6%
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Frequently Asked Questions
- What is Phillips 66's refining — gross pp&e?
- Phillips 66 (PSX) reported refining — gross pp&e of $22.96B in Q1 2026.
- How has Phillips 66's refining — gross pp&e changed year-over-year?
- Phillips 66's refining — gross pp&e increased by 1.9% year-over-year, from $22.53B to $22.96B.
- What is the long-term trend for Phillips 66's refining — gross pp&e?
- Over 4 years (2021 to 2025), Phillips 66's refining — gross pp&e has grown at a -1.4% compound annual growth rate (CAGR), from $99.64B to $94.17B.
- What does refining — gross pp&e mean?
- The total original cost of all physical assets used in the refining segment.