Phillips 66 Announces Consolidated Earnings Results for the Fourth Quarter and Full Year of 2014; Reports Impairment Charges for the Fourth Quarter of 2014
For the full year, the company reported earnings was $4,762 million against $3,726 million a year ago. Adjusted earnings were $3,782 million against $3,643 million a year ago. Earnings per share of common stock were $8.33 against $6.02 a year ago. Adjusted earnings per share of common stock were $6.62 against $5.89 a year ago. Net cash provided by operating activities, excluding working capital was $4,549 million and net cash provided by operating activities was $3,529 million. The company generated $3.5 billion in cash from operations during 2014. Excluding changes in working capital, operating cash flow was $4.5 billion. The company ended the year with $8.7 billion of debt and $5.2 billion of cash and cash equivalents. Adjusted ROCE earnings were $3,990 million.
For the fourth quarter of 2014, the company reported impairments were $131 million.