PSX · 8-K · 20260805PR000030
Liquidity and Debt Position
Phillips 66 · 2026-08-05 · Importance 79 · Surprise 66 · From source text
Total debt declined by $6.559 billion to $20.565 billion at June 30, 2026, from $27.124 billion at March 31, 2026. Net debt decreased to $16.466 billion from $21.974 billion, while cash and cash equivalents declined to $4.099 billion from $5.150 billion. The debt-to-capital ratio improved to 39% from 48%, and the net-debt-to-capital ratio improved to 33% from 43%. Phillips 66 had $6.4 billion of committed capacity available under credit facilities as of June 30, 2026.
Key facts
- Cash flow from operations excluding working capital increased from $699 million in 1Q 2026 to $4,317 million in 2Q 2026 source
- Had $6.4 billion of committed capacity available under credit facilities as of June 30, 2026 source
- Total debt decreased by $6.6 billion to $20,565 million source
- Total debt as of June 30, 2026: $20,565 million source
- Net debt as of June 30, 2026: $16,466 million source
- Cash flow from operations for 2Q 2026: $7,259 million source
- Cash Flow from Operations, Excluding Working Capital for 2Q 2026: $4,317 million source
- Net gain on dispositions in 2Q 2026 relates to post-closing adjustments from December 2025 sale of 65% interest in Germany and Austria retail marketing business source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | positive | realized | — | Cash flow from operations excluding working capital increased from $699 million in 1Q 2026 to $4,317 million in 2Q 2026 |
| liability | positive | realized | — | Total debt decreased by $6.6 billion to $20,565 million |
| cash | positive | realized | — | Cash flow from operations for 2Q 2026: $7,259 million |