What is Phillips 66's refining — interest and debt expense?

Phillips 66 (PSX) reported refining — interest and debt expense of $0 in Q1 2026.

What does refining — interest and debt expense mean?

This represents the interest costs allocated to the refining segment based on its share of corporate debt or specific project financing. It reflects the cost of capital employed to build or acquire refining assets. High interest expenses can significantly impact the net profitability of the segment during volatile market cycles.

Phillips 66 PSX Refining — Interest and Debt Expense

Other segment segments

Chemicals

$0—

M&S

$0—

Midstream

$0—

Renewable Fuels

$0—

Similar metrics at other companies

PBFRefining Group — Interest (income) expense, net

-$16.4M-264%

DALRefinery — Net Interest Expense

$1M+200%

DKRefining — Interest Income (Expense), Nonoperating

-$49M-35.7%

DKRefining — Expense

$0-100%

PBFRefining — Depreciation and amortization expense

$148.55M+2.7%

MPCInterest and Debt Expense

$370M+21.7%

Other financials

Income statement

See full

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

See full

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

See full

Operating cash flow-$2.3B-1,311%

Valuation

See full

Market cap$68.86B+35.5%

P/E16.7×-10.7×

P/S0.5×+0.1×

Profitability

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Gross margin12.5%+3.4pp

Net margin3.1%+1.7pp

Returns & leverage

See full

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:InterestAndDebtExpense.

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 refining — interest and debt expense?: Phillips 66 (PSX) reported refining — interest and debt expense of $0 in Q1 2026.
What does refining — interest and debt expense mean?: This represents the interest costs allocated to the refining segment based on its share of corporate debt or specific project financing. It reflects the cost of capital employed to build or acquire refining assets. High interest expenses can significantly impact the net profitability of the segment during volatile market cycles.