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Consolidated Statement of Changes in Equity - USD ($)
$ in Millions
Total
Cumulative effect of accounting changes
Common Stock
Capital in Excess of Par
Treasury Stock
Retained Earnings
Retained Earnings
Cumulative effect of accounting changes
Accum. Other Comprehensive Loss
Accum. Other Comprehensive Loss
Cumulative effect of accounting changes
Noncontrolling Interests
Noncontrolling Interests
Cumulative effect of accounting changes
Beginning Balance at Dec. 31, 2017 $ 27,428 $ 49 $ 6 $ 19,768 $ (10,378) $ 16,306 $ 36 $ (617)   $ 2,343 $ 13
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Net income 5,873         5,595       278  
Other comprehensive loss (75)             (75)      
Dividends paid on common stock (1,436)         (1,436)          
Repurchase of common stock (4,645)       (4,645)            
Benefit plan activity 51     63   (12)          
Issuance of Phillips 66 Partners LP common units 115     42           73  
Distributions to noncontrolling interests (207)                 (207)  
Ending Balance at Dec. 31, 2018 $ 27,153 $ (9) 6 19,873 (15,023) 20,489 $ 81 (692) $ (89) 2,500 $ (1)
Beginning Balance, Common shares (in shares) at Dec. 31, 2017 643,835,464                    
Beginning Balance, Treasury stock (in shares) at Dec. 31, 2017 141,565,145                    
Stockholders' Equity, Shares [Roll Forward]                      
Repurchase of common stock (in shares) 47,961,186                    
Shares issued—share-based compensation (in shares) 1,856,297                    
Ending Balance, Common shares (in shares) at Dec. 31, 2018 645,691,761                    
Ending Balance, Treasury stock (in shares) at Dec. 31, 2018 189,526,331                    
Dividends, Common Stock [Abstract]                      
Dividends Paid Per Share of Common Stock (in usd per share) $ 3.10                    
Net income $ 3,377         3,076       301  
Other comprehensive loss (7)             (7)      
Dividends paid on common stock (1,570)         (1,570)          
Repurchase of common stock (1,650)       (1,650)            
Benefit plan activity 73     85   (12)          
Issuance of Phillips 66 Partners LP common units 141     68   0       73  
Impacts from Phillips 66 Partners LP GP/IDR restructuring transaction (98)     275           (373)  
Distributions to noncontrolling interests (241)                 (241)  
Ending Balance at Dec. 31, 2019 $ 27,169   6 20,301 (16,673) 22,064   (788)   2,259  
Stockholders' Equity, Shares [Roll Forward]                      
Repurchase of common stock (in shares) 16,864,475                    
Shares issued—share-based compensation (in shares) 1,724,872                    
Ending Balance, Common shares (in shares) at Dec. 31, 2019 647,416,633                    
Ending Balance, Treasury stock (in shares) at Dec. 31, 2019 206,390,806                    
Dividends, Common Stock [Abstract]                      
Dividends Paid Per Share of Common Stock (in usd per share) $ 3.50                    
Net income $ (3,714)         (3,975)       261  
Other comprehensive loss (6)             (6)      
Dividends paid on common stock (1,575)         (1,575)          
Repurchase of common stock (443)       (443)            
Benefit plan activity 68     80   (12)          
Transfer of equity interest 307     2           305  
Net distributions to noncontrolling interests (285)                 (285)  
Other 2         (2)   5   (1)  
Ending Balance at Dec. 31, 2020 $ 21,523   $ 6 $ 20,383 $ (17,116) $ 16,500   $ (789)   $ 2,539  
Stockholders' Equity, Shares [Roll Forward]                      
Repurchase of common stock (in shares) 5,381,021                    
Shares issued—share-based compensation (in shares) 1,226,590                    
Ending Balance, Common shares (in shares) at Dec. 31, 2020 648,643,223                    
Ending Balance, Treasury stock (in shares) at Dec. 31, 2020 211,771,827                    
Dividends, Common Stock [Abstract]                      
Dividends Paid Per Share of Common Stock (in usd per share) $ 3.60