Earnings (Loss) Per Share

12 Months Ended

Dec. 31, 2022

The numerator of basic earnings (loss) per share (EPS) is net income (loss) attributable to Phillips 66, adjusted for noncancelable dividends paid on unvested share-based employee awards during the vesting period (participating securities) and the premium paid for the repurchase of noncontrolling interests. The denominator of basic EPS is the sum of the daily weighted-average number of common shares outstanding during the periods presented and fully vested stock and unit awards that have not yet been issued as common stock. The numerator of diluted EPS is also based on net income (loss) attributable to Phillips 66, which is reduced by dividend equivalents paid on participating securities for which the dividends are more dilutive than the participation of the awards in the earnings (loss) of the periods presented, and the premium paid for the repurchase of noncontrolling interests. To the extent unvested stock, unit or option awards and vested unexercised stock options are dilutive, they are included with the weighted-average common shares outstanding in the denominator. Treasury stock is excluded from the denominator in both basic and diluted EPS.


	2022			2021		2020
	Basic		Diluted	Basic	Diluted	Basic	Diluted
Amounts Attributed to Phillips 66 Common Stockholders (millions):
Net income (loss) attributable to Phillips 66	$	11,024	11,024	1,317	1,317	(3,975)	(3,975)
Income allocated to participating securities	(10)		—	(9)	(9)	(8)	(8)
Premium paid for the repurchase of noncontrolling interests	—		—	(2)	(2)	—	—
Net income (loss) available to common stockholders	$	11,014	11,024	1,306	1,306	(3,983)	(3,983)

Weighted-average common shares outstanding (thousands):	469,436		471,497	437,886	440,028	437,327	439,530
Effect of share-based compensation	2,061		2,234	2,142	336	2,203	—
Weighted-average common shares outstanding—EPS	471,497		473,731	440,028	440,364	439,530	439,530

Earnings (Loss) Per Share of Common Stock (dollars)	$	23.36	23.27	2.97	2.97	(9.06)	(9.06)