What is Phillips 66's renewable fuels — impairments?

Phillips 66 (PSX) reported renewable fuels — impairments of $2M in Q1 2026.

What does renewable fuels — impairments mean?

Charges recognized when the carrying value of assets within the renewable fuels segment exceeds their recoverable amount. This indicates a potential decline in the long-term economic viability or market value of specific renewable production assets.

Phillips 66 PSX Renewable Fuels — Impairments

Other segment segments

Midstream

$4M—

Refining

$2M+100%

Chemicals

$0—

M&S

$0—

Similar metrics at other companies

ANDERenewables — Asset impairment

$850K—

AMRCRenewable Fuels — Depreciation and intangible asset amortization

$11.31M+46.9%

AESRenewables — Goodwill, Impaired, Accumulated Impairment Loss

$35M0.0%

AMRCRenewable Fuels — Amortization of Debt Issuance Costs and Discounts

$104K-12.6%

CVIRenewables Segment — Gain (Loss) On Asset Write-Downs And Asset Disposals

-$5M—

AMRCRenewable Fuels — Unrealized Gain (Loss) on Derivatives

-$150K+59.7%

Other financials

Income statement

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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

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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

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

Valuation

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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

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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:AssetImpairmentCharges.

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 renewable fuels — impairments?: Phillips 66 (PSX) reported renewable fuels — impairments of $2M in Q1 2026.
What does renewable fuels — impairments mean?: Charges recognized when the carrying value of assets within the renewable fuels segment exceeds their recoverable amount. This indicates a potential decline in the long-term economic viability or market value of specific renewable production assets.