Phillips 66 (PSX) 8-K Phillips 66 Reports Fourth-Quarter Earnings of $826 Million

	Exhibit 99.2
Phillips 66 Earnings Release Supplemental Data

CONSOLIDATED INCOME STATEMENT
	Millions of Dollars
	2012										2013
	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD		1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD
Revenues and Other Income
Sales and other operating revenues*	45,745		46,709		42,903		43,933		179,290		41,211		43,190		44,146		43,049		171,596
Equity in earnings of affiliates	734		815		959		626		3,134		1,039		618		647		769		3,073
Net gain (loss) on dispositions	2		188		(1	)	4		193		1		41		8		5		55
Other income	1		77		4		53		135		23		49		(7	)	20		85
Total Revenues and Other Income	46,482		47,789		43,865		44,616		182,752		42,274		43,898		44,794		43,843		174,809
Costs and Expenses
Purchased crude oil and products	40,312		40,385		36,167		37,549		154,413		35,243		37,257		38,717		37,028		148,245
Operating expenses	1,092		980		889		1,072		4,033		978		1,032		992		1,204		4,206
Selling, general and administrative expenses	345		476		427		455		1,703		327		368		349		434		1,478
Depreciation and amortization	215		222		227		242		906		242		229		233		243		947
Impairments	43		275		248		592		1,158		24		1		1		3		29
Taxes other than income taxes*	3,420		3,474		3,410		3,436		13,740		3,324		3,501		3,624		3,670		14,119
Accretion on discounted liabilities	5		6		7		7		25		6		6		6		6		24
Interest and debt expense	13		83		74		76		246		70		69		68		68		275
Foreign currency transaction (gains) losses	(15	)	8		(13	)	(8	)	(28	)	2		(18	)	—		(24	)	(40	)
Total Costs and Expenses	45,430		45,909		41,436		43,421		176,196		40,216		42,445		43,990		42,632		169,283
Income before income taxes	1,052		1,880		2,429		1,195		6,556		2,058		1,453		804		1,211		5,526
Provision for income taxes	425		707		842		499		2,473		663		507		278		396		1,844
Income from continuing operations	627		1,173		1,587		696		4,083		1,395		946		526		815		3,682
Income from discontinued operations**	11		9		14		14		48		15		14		14		18		61
Net Income	638		1,182		1,601		710		4,131		1,410		960		540		833		3,743
Less: net income attributable to
noncontrolling interests	2		1		2		2		7		3		2		5		7		17
Net Income Attributable to Phillips 66	636		1,181		1,599		708		4,124		1,407		958		535		826		3,726
* Includes excise taxes on petroleum products sales:	3,321		3,389		3,312		3,349		13,371		3,258		3,428		3,568		3,612		13,866
** Net of provision for income taxes on discontinued operations of:	6		5		6		10		27		8		7		8		11		34
Amounts Attributable to Phillips 66 Common Shareholders:
Income from continuing operations	625		1,172		1,585		694		4,076		1,392		944		521		808		3,665
Income from discontinued operations	11		9		14		14		48		15		14		14		18		61
Net Income	636		1,181		1,599		708		4,124		1,407		958		535		826		3,726
Net Income Attributable to Phillips 66
Per Share of Common Stock (dollars)
Basic
Continuing operations	0.99		1.87		2.51		1.10		6.47		2.23		1.53		0.86		1.35		5.97
Discontinued operations	0.02		0.01		0.02		0.02		0.08		0.02		0.02		0.02		0.03		0.10
Net Income Attributable to Phillips 66 Per Share of Common Stock	1.01		1.88		2.53		1.12		6.55		2.25		1.55		0.88		1.38		6.07
Diluted
Continuing operations	0.98		1.85		2.49		1.09		6.40		2.21		1.51		0.85		1.34		5.92
Discontinued operations	0.02		0.01		0.02		0.02		0.08		0.02		0.02		0.02		0.03		0.10
Net Income Attributable to Phillips 66 Per Share of Common Stock	1.00		1.86		2.51		1.11		6.48		2.23		1.53		0.87		1.37		6.02
Average Common Shares Outstanding (in thousands)
Basic	627,628		628,510		630,672		628,527		628,835		625,030		619,143		608,934		598,553		612,918
Diluted	634,645		635,157		637,913		635,634		636,764		631,288		624,907		614,519		604,165		618,989
SUMMARY OF INCOME (LOSS) ATTRIBUTABLE TO PHILLIPS 66 BY SEGMENT
	Millions of Dollars
	2012										2013
	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD		1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD
Midstream	108		(75	)	(72	)	92		53		110		90		148		121		469
Chemicals	217		207		153		246		823		282		181		262		261		986
Refining	393		916		1,545		363		3,217		922		481		(2	)	450		1,851
Marketing and Specialties	(23	)	243		84		113		417		173		318		226		73		790
Corporate and Other	(70	)	(119	)	(125	)	(120	)	(434	)	(95	)	(126	)	(113	)	(97	)	(431	)
Discontinued Operations	11		9		14		14		48		15		14		14		18		61
Consolidated	636		1,181		1,599		708		4,124		1,407		958		535		826		3,726
SUMMARY OF INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE TAXES BY SEGMENT
	Millions of Dollars
	2012										2013
	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD		1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD
Midstream	174		(125	)	(95	)	135		89		175		142		240		194		751
Chemicals	300		307		236		346		1,189		403		232		367		359		1,361
Refining	616		1,546		2,351		771		5,284		1,399		775		36		732		2,942
Marketing and Specialties	67		329		108		163		667		256		490		317		103		1,166
Corporate and Other	(105	)	(177	)	(171	)	(220	)	(673	)	(175	)	(186	)	(156	)	(177	)	(694	)
Consolidated	1,052		1,880		2,429		1,195		6,556		2,058		1,453		804		1,211		5,526
EFFECTIVE TAX RATES ON INCOME FROM CONTINUING OPERATIONS
	2012										2013
	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD		1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD
Midstream	36.8	%	40.8	%	26.3	%	30.4	%	32.6	%	35.4	%	35.2	%	36.3	%	34.0	%	35.3	%
Chemicals	27.7	%	32.6	%	35.2	%	28.9	%	30.8	%	30.0	%	22.0	%	28.6	%	27.3	%	27.6	%
Refining	36.2	%	40.8	%	34.3	%	52.9	%	39.1	%	34.1	%	37.9	%	105.6	%	38.5	%	37.1	%
Marketing and Specialties	134.3	%	26.1	%	22.2	%	30.7	%	37.5	%	32.4	%	35.1	%	28.7	%	29.1	%	32.2	%
Corporate and Other	33.3	%	32.8	%	26.9	%	45.5	%	35.5	%	45.7	%	32.3	%	27.6	%	45.2	%	37.9	%
Consolidated	40.4	%	37.6	%	34.7	%	41.8	%	37.7	%	32.2	%	34.9	%	34.6	%	32.7	%	33.4	%
SUMMARY OF ADJUSTED NET INCOME (LOSS) ATTRIBUTABLE TO PHILLIPS 66 BY SEGMENT
	Millions of Dollars
	2012										2013
	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD		1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD
Midstream	108		95		88		71		362		110		90		148		121		469
Chemicals	217		242		275		246		980		282		181		262		261		986
Refining	454		885		1,545		960		3,844		909		481		(2	)	450		1,838
Marketing and Specialties	44		275		84		113		516		187		295		226		73		781
Corporate and Other	(70	)	(89	)	(112	)	(92	)	(363	)	(95	)	(126	)	(113	)	(97	)	(431	)
Consolidated	753		1,408		1,880		1,298		5,339		1,393		921		521		808		3,643

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SPECIAL ITEMS INCLUDED IN NET INCOME ATTRIBUTABLE TO PHILLIPS 66
(AFTER-TAX)
	Millions of Dollars
	2012										2013
	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD		1st Qtr		2nd Qtr	3rd Qtr	4th Qtr	YTD
Midstream
Impairments	—		(170	)	(160	)	—		(330	)	—		—	—	—	—
Pending claims and settlements	—		—		—		23		23		—		—	—	—	—
Hurricane-related costs	—		—		—		(2	)	(2	)	—		—	—	—	—
Total Midstream	—		(170	)	(160	)	21		(309	)	—		—	—	—	—
Chemicals
Impairments	—		—		(27	)	—		(27	)	—		—	—	—	—
Premium on early debt retirement	—		(35	)	(54	)	—		(89	)	—		—	—	—	—
Repositioning tax impacts	—		—		(41	)	—		(41	)	—		—	—	—	—
Total Chemicals	—		(35	)	(122	)	—		(157	)	—		—	—	—	—
Refining
Gain on asset sales	—		104		—		—		104		—		—	—	—	—
Impairments	(42	)	—		—		(564	)	(606	)	—		—	—	—	—
Pending claims and settlements	(19	)	—		—		—		(19	)	—		—	—	—	—
Repositioning tax impacts	—		(73	)	—		—		(73	)	—		—	—	—	—
Tax law impacts	—		—		—		—		—		13		—	—	—	13
Hurricane-related costs	—		—		—		(33	)	(33	)	—		—	—	—	—
Total Refining	(61	)	31		—		(597	)	(627	)	13		—	—	—	13
Marketing and Specialties
Gain on asset sales	—		2		—		—		2		—		23	—	—	23
Pending claims and settlements	—		(38	)	—		—		(38	)	16		—	—	—	16
Repositioning tax impacts	(67	)	4		—		—		(63	)	—		—	—	—	—
Exit of a business line	—		—		—		—		—		(34	)	—	—	—	(34	)
Tax law impacts	—		—		—		—		—		4		—	—	—	4
Total Marketing and Specialties	(67	)	(32	)	—		—		(99	)	(14	)	23	—	—	9
Corporate and Other
Impairments	—		—		—		(16	)	(16	)	—		—	—	—	—
Repositioning costs	—		(30	)	(13	)	(12	)	(55	)	—		—	—	—	—
Total Corporate and Other	—		(30	)	(13	)	(28	)	(71	)	—		—	—	—	—
Discontinued Operations	11		9		14		14		48		15		14	14	18	61
Total Phillips 66	(117	)	(227	)	(281	)	(590	)	(1,215	)	14		37	14	18	83
By Business Lines/Regions
Midstream
Transportation	—		(170	)	(160	)	21		(309	)	—		—	—	—	—
DCP Midstream	—		—		—		—		—		—		—	—	—	—
NGL Operations and Other	—		—		—		—		—		—		—	—	—	—
Total Midstream	—		(170	)	(160	)	21		(309	)	—		—	—	—	—
Refining
Atlantic Basin/Europe	(42	)	31		—		(33	)	(44	)	7		—	—	—	7
Gulf Coast	—		—		—		—		—		—		—	—	—	—
Central Corridor	—		—		—		—		—		3		—	—	—	3
Western/Pacific	—		—		—		(564	)	(564	)	2		—	—	—	2
Other Refining	(19	)	—		—		—		(19	)	1		—	—	—	1
Total Refining	(61	)	31		—		(597	)	(627	)	13		—	—	—	13
Marketing and Specialties
Marketing and Other	(67	)	(32	)	—		—		(99	)	20		—	—	—	20
Specialties	—		—		—		—		—		(34	)	23	—	—	(11	)
Total Marketing and Specialties	(67	)	(32	)	—		—		(99	)	(14	)	23	—	—	9
SPECIAL ITEMS INCLUDED IN INCOME FROM CONTINUING OPERATIONS
(PRE-TAX)
	Millions of Dollars
	2012										2013
	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD		1st Qtr		2nd Qtr	3rd Qtr	4th Qtr	YTD
Midstream
Transportation	—		(275	)	(248	)	35		(488	)	—		—	—	—	—
DCP Midstream	—		—		—		—		—		—		—	—	—	—
NGL Operations and Other	—		—		—		—		—		—		—	—	—	—
Total Midstream	—		(275	)	(248	)	35		(488	)	—		—	—	—	—
Chemicals	—		(57	)	(130	)	—		(187	)	—		—	—	—	—
Refining
Atlantic Basin/Europe	(42	)	185		—		(54	)	89		12		—	—	—	12
Gulf Coast	—		—		—		—		—		—		—	—	—	—
Central Corridor	—		—		—		—		—		5		—	—	—	5
Western/Pacific	—		—		—		(564	)	(564	)	3		—	—	—	3
Other Refining	(31	)	—		—		—		(31	)	2		—	—	—	2
Total Refining	(73	)	185		—		(618	)	(506	)	22		—	—	—	22
Marketing and Specialties
Marketing and Other	—		(58	)	—		—		(58	)	31		—	—	—	31
Specialties	—		—		—		—		—		(54	)	40	—	—	(14	)
Total Marketing and Specialties	—		(58	)	—		—		(58	)	(23	)	40	—	—	17
Corporate and Other	—		(46	)	(21	)	(43	)	(110	)	—		—	—	—	—
Discontinued Operations	17		14		20		24		75		23		21	22	29	95
Total Phillips 66	(56	)	(237	)	(379	)	(602	)	(1,274	)	22		61	22	29	134

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CASH FLOW INFORMATION
	Millions of Dollars
	2012										2013
	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD		1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD
Cash Flows From Operating Activities
Net income	638		1,182		1,601		710		4,131		1,410		960		540		833		3,743
Depreciation and amortization	215		222		227		242		906		242		229		233		243		947
Impairments	43		275		248		592		1,158		24		1		1		3		29
Accretion on discounted liabilities	5		6		7		7		25		6		6		6		6		24
Deferred taxes	169		9		(67	)	110		221		82		80		120		312		594
Undistributed equity earnings	(349	)	(212	)	(367	)	56		(872	)	77		(98	)	(55	)	(278	)	(354	)
Net (gain)/loss on dispositions	(2	)	(188	)	1		(4	)	(193	)	(1	)	(41	)	(8	)	(5	)	(55	)
Income from discontinued operations	(11	)	(9	)	(13	)	(15	)	(48	)	(15	)	(14	)	(14	)	(18	)	(61	)
Other	(178	)	164		97		(12	)	71		(34	)	35		33		161		195
Net working capital changes	(899	)	(27	)	177		(391	)	(1,140	)	400		(204	)	1,076		(392	)	880
Net cash provided by (used in) continuing operating activities	(369	)	1,422		1,911		1,295		4,259		2,191		954		1,932		865		5,942
Net cash provided by (used in) discontinued operating activities	8		12		7		10		37		22		14		17		32		85
Net Cash Used Provided by (Used in) Operating Activities	(361	)	1,434		1,918		1,305		4,296		2,213		968		1,949		897		6,027
Cash Flows From Investing Activities
Capital expenditures and investments	(216	)	(266	)	(334	)	(885	)	(1,701	)	(382	)	(366	)	(408	)	(623	)	(1,779	)
Proceeds from asset dispositions	6		234		19		27		286		9		60		1,119		26		1,214
Advances/loans—related parties	—		—		(100	)	—		(100	)	—		—		(65	)	—		(65	)
Collection of advances/loans—related parties	—		—		—		—		—		55		45		—		65		165
Other	—		—		—		—		—		—		—		—		48		48
Net cash provided by (used in) continuing investing activities	(210	)	(32	)	(415	)	(858	)	(1,515	)	(318	)	(261	)	646		(484	)	(417	)
Net cash provided by (used in) discontinued investing activities	(2	)	(4	)	(5	)	(9	)	(20	)	(5	)	(5	)	(4	)	(13	)	(27	)
Net Cash Provided by (Used in) Investing Activities	(212	)	(36	)	(420	)	(867	)	(1,535	)	(323	)	(266	)	642		(497	)	(444	)
Cash Flows From Financing Activities
Contributions from (distributions to) ConocoPhillips	891		(6,146	)	—		—		(5,255	)	—		—		—		—		—
Issuance of debt	5,794		2,000		—		—		7,794		—		—		—		—		—
Repayment of debt	(7	)	(191	)	(8	)	(1,004	)	(1,210	)	(3	)	(502	)	(510	)	(5	)	(1,020	)
Issuance of common stock	—		2		21		24		47		(6	)	3		(1	)	10		6
Repurchase of common stock	—		—		(111	)	(245	)	(356	)	(382	)	(546	)	(674	)	(644	)	(2,246	)
Dividends paid on common stock	—		—		(125	)	(157	)	(282	)	(194	)	(192	)	(189	)	(232	)	(807	)
Change in restricted cash	(6,050	)	6,050		—		—		—		—		—		—		—		—
Distributions to noncontrolling interests	—		(1	)	—		(4	)	(5	)	—		(1	)	—		(9	)	(10	)
Net proceeds from issuance of Phillips 66 Partners LP common units	—		—		—		—		—		—		—		404		—		404
Other	(55	)	(11	)	27		5		(34	)	—		(3	)	(1	)	(2	)	(6	)
Net cash provided by (used in) continuing financing activities	573		1,703		(196	)	(1,381	)	699		(585	)	(1,241	)	(971	)	(882	)	(3,679	)
Net cash provided by (used in) discontinued financing activities	—		—		—		—		—		—		—		—		—		—
Net Cash Provided by (Used in) Financing Activities	573		1,703		(196	)	(1,381	)	699		(585	)	(1,241	)	(971	)	(882	)	(3,679	)
Effect of Exchange Rate Changes on Cash and Cash Equivalents	—		3		24		(13	)	14		(26	)	6		102		(60	)	22
Net Change in Cash
and Cash Equivalents	—		3,104		1,326		(956	)	3,474		1,279		(533	)	1,722		(542	)	1,926
Cash and cash equivalents
at beginning of period	—		—		3,104		4,430		—		3,474		4,753		4,220		5,942		3,474
Cash and Cash Equivalents
at End of Period	—		3,104		4,430		3,474		3,474		4,753		4,220		5,942		5,400		5,400
CAPITAL PROGRAM
	Millions of Dollars
	2012										2013
	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD		1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD
Consolidated Capital Expenditures and Investments
Midstream**	33		41		62		568		704		110		120		110		188		528
Chemicals	—		—		—		—		—		—		—		—		—		—
Refining	171		176		149		242		738		136		162		250		341		889
Marketing and Specialties	12		23		30		54		119		97		42		41		46		226
Corporate and Other	—		26		93		21		140		39		42		7		48		136
Total Consolidated from Continuing Operations	216		266		334		885		1,701		382		366		408		623		1,779
Discontinued Operations	2		4		5		9		20		5		5		4		13		27
Proportional Share of Select Equity Affiliates
Capital Expenditures and Investments*
DCP Midstream (Midstream)**	225		338		410		351		1,324		274		268		218		211		971
CPChem (Chemicals)	75		72		93		131		371		107		142		184		233		666
WRB Refining (Refining)	13		24		36		63		136		29		30		19		31		109
Select Equity Affiliates	313		434		539		545		1,831		410		440		421		475		1,746
Total Capital Program*
Midstream**	258		379		472		919		2,028		384		388		328		399		1,499
Chemicals	75		72		93		131		371		107		142		184		233		666
Refining	184		200		185		305		874		165		192		269		372		998
Marketing and Specialties	12		23		30		54		119		97		42		41		46		226
Corporate and Other	—		26		93		21		140		39		42		7		48		136
Discontinued Operations	2		4		5		9		20		5		5		4		13		27
Total Capital Program	531		704		878		1,439		3,552		797		811		833		1,111		3,552
* Includes Phillips 66’s portion of self-funded capital spending by WRB Refining, DCP Midstream and Chevron Phillips Chemical Company (CPChem).
** 4th quarter 2012 consolidated amount includes acquisition of a one-third interest in the Sand Hills and Southern Hills pipeline projects from DCP Midstream for $459 million. This amount is also included in DCP Midstream's capital spending through 2012.

Page 3

MIDSTREAM
	2012									2013
	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr	YTD		1st Qtr	2nd Qtr	3rd Qtr	4th Qtr	YTD
Midstream Net Income (Loss) Attributable to Phillips 66
($ Millions)*
Transportation	29		(146	)	(128	)	35	(210	)	46	50	54	50	200
DCP Midstream	60		42		39		38	179		56	30	87	37	210
NGL Operations and Other	19		29		17		19	84		8	10	7	34	59
Midstream Net Income (Loss) Attributable
to Phillips 66	108		(75	)	(72	)	92	53		110	90	148	121	469
Midstream Income (Loss) before Income Taxes
($ Millions)*
Transportation	50		(236	)	(185	)	54	(317	)	75	81	87	84	327
DCP Midstream	93		66		62		58	279		87	46	136	63	332
NGL Operations and Other	31		45		28		23	127		13	15	17	47	92
Midstream Income (Loss) before Income Taxes	174		(125	)	(95	)	135	89		175	142	240	194	751
Midstream Adjusted EBITDA	269		207		216		171	863		242	214	323	289	1,068
Depreciation and Amortization ($ Millions)*
Transportation	18		21		19		24	82		18	19	19	30	86
DCP Midstream	—		—		—		—	—		—	—	—	—	—
NGL Operations and Other	—		1		—		—	1		1	—	—	1	2
Total	18		22		19		24	83		19	19	19	31	88
Operating and SG&A Expense ($ Millions)*
Transportation	100		98		97		110	405		94	104	111	104	413
DCP Midstream	(2	)	1		(1	)	—	(2	)	—	—	—	2	2
NGL Operations and Other	19		16		9		12	56		14	22	13	19	68
Total	117		115		105		122	459		108	126	124	125	483
* Prior period amounts have been recast to reflect the realignment of Sand Hills and Southern Hills pipelines from "Transportation" to "NGL Operations and Other."
Transportation Volumes (MB/D)
Pipelines*	2,834		2,870		3,011		2,875	2,898		3,052	3,191	3,246	3,176	3,167
Terminals	1,134		1,181		1,221		1,141	1,169		1,041	1,194	1,419	1,435	1,274
* Pipelines represents the sum of volumes transported through each separately tariffed pipeline segment, including our share of equity volumes in Yellowstone and Lake Charles pipelines.
PSX Other Volumes
NGL Fractionated (MB/D)*	105		93		113		110	105		117	113	123	109	115
* Excludes DCP Midstream.
100% DCP Midstream Results
Capital Expenditures and Investments ($ Millions)	450		676		820		701	2,647		547	537	435	422	1,941
Selected DCP Volumes and Gross Margin
by Major Contract Type (excludes current quarter)
Percentage of Proceeds (long NGL / long Gas)*
Volume (TBtu/d)	4.8		4.7		4.9		4.9	4.8		4.8	5.0	5.3	**	5.0
Gross Margin ($ Millions)	225		170		180		210	785		185	220	230	**	635
Keep-whole (long NGL / short Gas)*
Volume (TBtu/d)	0.8		0.8		0.8		0.6	0.8		0.6	0.6	0.6	**	0.6
Gross Margin ($ Millions)	105		80		60		50	295		45	35	45	**	125
Fee-based Gas (primarily gathering and transport)*
Volume (TBtu/d)	4.7		4.7		4.7		4.6	4.7		4.5	4.7	4.7	**	4.6
Gross Margin ($ Millions)	60		62		60		70	252		65	75	75	**	215
Fee-based NGL Transport and Fractionation
Volume (MB/D)	214		163		175		192	186		202	201	209	**	204
Gross Margin ($ Millions)	19		15		15		19	68		19	19	25	**	63
Other Gross Margin***
Gross Margin ($ Millions)	152		178		140		163	633		153	160	186	**	499
Total Throughput (TBtu/d)	7.2		7.0		7.2		6.9	7.1		6.9	7.1	7.4	7.2	7.1
NGL Production (MB/D)	412		392		398		405	402		396	412	442	452	426
* Certain volumes earn duplicate revenue streams (i.e. both fee plus processing economics).
** Pending DCP Midstream release.
*** Includes NGL/Propane Marketing, MTM, Condensate Sales, Gas Marketing activity and other items.
Weighted Average NGL Price*
DCP Midstream ($/BBL)	42.10		32.48		30.21		32.18	34.24		31.09	29.77	32.66	33.86	31.84
DCP Midstream ($/gal)	1.00		0.77		0.72		0.77	0.82		0.74	0.71	0.78	0.81	0.76
* Based on index prices from the Mont Belvieu and Conway market hubs that are weighted by NGL component and location mix.

Page 4

CHEMICALS
	2012										2013
	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD		1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD
Chemicals Net Income Attributable
to Phillips 66 ($ Millions)	217		207		153		246		823		282		181		262		261		986
Chemicals Adjusted EBITDA	373		436		441		431		1,681		482		320		454		454		1,710
100% CPChem Results
Investing Cash Flows ($ Millions)
Capital Expenditures and Investments	149		144		186		262		741		214		284		367		466		1,331
Advances to Equity Companies	35		70		44		66		215		45		19		5		98		167
Advance Repayments from Equity Companies	(103	)	(63	)	(54	)	(83	)	(303	)	(43	)	(12	)	—		—		(55	)
Externally Marketed Sales Volumes (MM Lbs)
Olefins and Polyolefins	3,640		3,510		3,811		4,006		14,967		4,036		3,862		3,927		4,246		16,071
Specialties, Aromatics and Styrenics	1,793		1,811		1,545		1,570		6,719		1,496		1,485		1,577		1,672		6,230
Total	5,433		5,321		5,356		5,576		21,686		5,532		5,347		5,504		5,918		22,301
Olefins and Polyolefins Capacity Utilization (%)	94	%	92	%	97	%	90	%	93	%	91	%	78	%	87	%	95	%	88	%
Market Indicators
U.S. Industry Prices*
Ethylene, Net Transaction Price (cents/lb)	55.17		46.83		45.42		45.67		48.27		48.00		46.33		45.83		46.50		46.67
HDPE Blow Molding (cents/lb)	92.00		88.00		84.33		84.67		87.25		91.67		93.67		96.67		100.00		95.50
U.S. Industry Costs*
Ethylene, Cash Cost Weighted Average Feed (cents/lb)	28.25		18.47		19.72		18.62		21.22		13.80		15.66		16.47		18.60		16.13
HDPE, Total Cash Cost (cents/lb)	72.74		64.81		62.04		63.22		65.71		69.26		65.55		63.71		64.52		65.76
* Released by IHS. Reflect the IHS analysis of historical market indicators.

Page 5

REFINING
	2012										2013
	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD		1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD
Refining Net Income (Loss) Attributable to Phillips 66
($ Millions)
Atlantic Basin/Europe	(10	)	137		321		117		565		98		29		50		(135	)	42
Gulf Coast	(45	)	183		266		175		579		44		(65	)	(58	)	209		130
Central Corridor	405		574		773		511		2,263		589		396		120		379		1,484
Western/Pacific	(1	)	(34	)	136		(486	)	(385	)	62		33		(93	)	43		45
Other Refining	44		56		49		46		195		129		88		(21	)	(46	)	150
Refining Net Income Attributable
to Phillips 66	393		916		1,545		363		3,217		922		481		(2	)	450		1,851
Refining Income (Loss) before Income Taxes ($ Millions)
Atlantic Basin/Europe	7		312		451		124		894		141		48		64		(186	)	67
Gulf Coast	(70	)	283		408		250		871		57		(82	)	(86	)	320		209
Central Corridor	602		891		1,194		783		3,470		925		627		195		590		2,337
Western/Pacific	18		(21	)	212		(444	)	(235	)	94		60		(123	)	74		105
Other Refining	59		81		86		58		284		182		122		(14	)	(66	)	224
Refining Income before Income Taxes	616		1,546		2,351		771		5,284		1,399		775		36		732		2,942
Refining Adjusted EBITDA	876		1,553		2,547		1,592		6,568		1,588		977		243		935		3,743
Realized Refining Margins ($/BBL)*
Atlantic Basin/Europe	6.43		7.98		12.88		9.85		9.28		8.61		6.83		6.59		5.12		6.87
Gulf Coast	5.95		9.36		11.42		9.08		9.02		8.54		4.45		3.95		9.84		6.63
Central Corridor	19.22		26.72		31.82		27.85		26.37		27.29		19.45		9.80		18.50		18.62
Western/Pacific	10.70		7.91		13.30		12.01		11.04		9.64		8.80		4.77		9.51		8.20
Worldwide	10.39		12.85		16.97		13.99		13.59		13.94		9.88		6.14		10.75		10.10
* Based on total processed inputs and includes proportional share of refining margins contributed by certain equity affiliates.
Depreciation and Amortization ($ Millions)*
Atlantic Basin/Europe	39		40		41		45		165		42		43		43		42		170
Gulf Coast	49		51		50		51		201		52		54		50		50		206
Central Corridor	21		21		21		22		85		27		22		21		23		93
Western/Pacific	49		48		52		49		198		53		50		51		52		206
Other Refining	1		1		1		3		6		3		(1	)	5		3		10
Total	159		161		165		170		655		177		168		170		170		685
* Excludes D&A of all equity affiliates.
Operating and SG&A Expense ($ Millions)*
Atlantic Basin/Europe	237		225		203		285		950		257		272		234		349		1,112
Gulf Coast	332		271		286		322		1,211		327		295		306		325		1,253
Central Corridor	113		135		97		103		448		98		97		114		116		425
Western/Pacific	257		230		198		228		913		185		200		199		221		805
Other Refining	40		5		17		27		89		23		35		30		80		168
Total	979		866		801		965		3,611		890		899		883		1,091		3,763
* Excludes Operating and SG&A Expense of all equity affiliates.
Turnaround Expense ($ Millions), included in
Operating and SG&A Expense*
Atlantic Basin/Europe	14		5		1		13		33		12		35		15		108		170
Gulf Coast	65		14		12		35		126		64		12		18		28		122
Central Corridor	21		43		3		2		69		6		4		16		11		37
Western/Pacific	76		52		18		34		180		4		11		7		12		34
Total	176		114		34		84		408		86		62		56		159		363
* Excludes Turnaround Expense of all equity affiliates.
Taxes Other than Income Taxes, excluding Excise Taxes ($ Millions)
Atlantic Basin/Europe	18		14		20		14		66		18		15		14		15		62
Gulf Coast	22		17		17		16		72		22		19		14		14		69
Central Corridor	10		8		7		8		33		9		9		8		8		34
Western/Pacific	27		27		28		26		108		27		26		26		26		105
Other Refining	2		1		2		1		6		(3	)	(4	)	(3	)	1		(9	)
Total	79		67		74		65		285		73		65		59		64		261
Foreign Currency Gains
(Losses) After-Tax ($ Millions)	15		(3	)	3		2		17		16		9		(2	)	18		41
Refining—Equity Affiliate Information ($ Millions)
Equity in earnings of affiliates	313		410		628		191		1,542		517		300		98		298		1,213
Less: Share of equity affiliate gross margin included in Realized
Refining Margin and other equity affiliate-related costs*	(517	)	(564	)	(812	)	(440	)	(2,333	)	(719	)	(466	)	(263	)	(436	)	(1,884	)
Equity-affiliate-related expenses
not included in Realized Refining Margins	(204	)	(154	)	(184	)	(249	)	(791	)	(202	)	(166	)	(165	)	(138	)	(671	)
Regional Totals
Gulf Coast	(30	)	(14	)	(5	)	(17	)	(66	)	(36	)	(12	)	4		21		(23	)
Central Corridor	(108	)	(101	)	(117	)	(177	)	(503	)	(120	)	(111	)	(108	)	(114	)	(453	)
Other Regions**	(66	)	(39	)	(62	)	(55	)	(222	)	(46	)	(43	)	(61	)	(45	)	(195	)
Total	(204	)	(154	)	(184	)	(249	)	(791	)	(202	)	(166	)	(165	)	(138	)	(671	)
* Other costs associated with equity affiliates which do not flow through equity earnings.
** Combined equity affiliates reported in Atlantic Basin/Europe and Western/Pacific.

Page 6

REFINING (continued)
	2012											2013
	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD			1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD
Atlantic Basin/Europe*
Crude Oil Charge Input (MB/D)	573		561		587		497		555			571		555		574		483		546
Total Charge Input (MB/D)	621		612		625		523		595			614		597		606		489		576
Crude Oil Capacity Utilization (%)	98	%	95	%	100	%	84	%	94	%		97	%	94	%	98	%	82	%	93	%
Clean Product Yield (%)	85	%	85	%	84	%	82	%	84	%		85	%	84	%	84	%	79	%	83	%
* Includes our proportionate share of a refinery complex in Karlsruhe, Germany.
Gulf Coast
Crude Oil Charge Input (MB/D)	600		670		649		709		657			584		664		671		682		651
Total Charge Input (MB/D)	672		749		730		785		734			643		741		767		762		729
Crude Oil Capacity Utilization (%)	82	%	91	%	88	%	97	%	90	%		80	%	91	%	92	%	93	%	89	%
Clean Product Yield (%)	80	%	84	%	80	%	81	%	81	%		81	%	83	%	82	%	82	%	82	%
Central Corridor*
Crude Oil Charge Input (MB/D)	479		446		478		413		454			457		474		480		479		472
Total Charge Input (MB/D)	494		459		494		428		469			473		488		495		494		488
Crude Oil Capacity Utilization (%)	102	%	95	%	102	%	88	%	97	%		96	%	100	%	101	%	100	%	99	%
Clean Product Yield (%)	88	%	87	%	87	%	88	%	88	%		87	%	86	%	88	%	88	%	87	%
* Includes our proportionate share of the Borger Refinery and Wood River Refinery.
Western/Pacific*
Crude Oil Charge Input (MB/D)	375		391		424		401		398			401		417		403		419		410
Total Charge Input (MB/D)	401		409		439		423		418			441		448		430		450		442
Crude Oil Capacity Utilization (%)	85	%	89	%	97	%	91	%	91	%	��	91	%	95	%	91	%	95	%	93	%
Clean Product Yield (%)	86	%	80	%	83	%	85	%	83	%		83	%	86	%	84	%	85	%	85	%
* Includes our proportionate share of a refinery in Melaka, Malaysia.
Worldwide—Including Proportionate Share of Equity Affiliates
Crude Oil Charge Input (MB/D)	2,027		2,068		2,138		2,020		2,064			2,013		2,110		2,128		2,063		2,079
Total Charge Input (MB/D)	2,188		2,229		2,288		2,159		2,216			2,171		2,274		2,298		2,195		2,235
Crude Oil Capacity Utilization (%)	91	%	93	%	96	%	91	%	93	%		90	%	94	%	95	%	92	%	93	%
Clean Product Yield (%)	84	%	84	%	83	%	83	%	84	%		84	%	85	%	84	%	84	%	84	%
Refined Products Production (MB/D)
Atlantic Basin/Europe*
Gasoline	243		251		244		196		233			240		239		241		175		224
Distillates	269		253		268		218		252			264		249		252		204		242
Other	115		112		116		113		114			114		110		116		107		112
Total	627		616		628		527		599			618		598		609		486		578
* Includes our proportionate share of a refinery complex in Karlsruhe, Germany.
Gulf Coast
Gasoline	228		298		271		289		272			252		292		304		293		285
Distillates	275		305		290		315		296			247		292		295		297		283
Other	179		155		175		190		175			147		164		175		184		168
Total	682		758		736		794		743			646		748		774		774		736
Central Corridor*
Gasoline	250		231		248		222		238			242		242		257		254		249
Distillates	183		168		179		153		171			168		175		174		179		174
Other	63		63		68		55		62			65		71		66		63		66
Total	496		462		495		430		471			475		488		497		496		489
* Includes our proportionate share of the Borger Refinery and Wood River Refinery.
Western/Pacific*
Gasoline	176		162		186		183		177			188		198		188		191		191
Distillates	168		164		176		176		171			177		189		173		193		183
Other	59		86		75		66		71			80		65		71		69		71
Total	403		412		437		425		419			445		452		432		453		445
* Includes our proportionate share of a refinery in Melaka, Malaysia.
Worldwide—Including Proportionate Share of Equity Affiliates
Gasoline	897		942		949		890		920			922		971		990		913		949
Distillates	895		890		913		862		890			856		905		894		873		882
Other	416		416		434		424		422			406		410		428		423		417
Total	2,208		2,248		2,296		2,176		2,232			2,184		2,286		2,312		2,209		2,248
Market Indicators
Crude and Crude Differentials ($/BBL)
WTI	102.99		93.44		92.11		88.09		94.16			94.29		94.12		105.80		97.38		97.90
Brent	118.49		108.19		109.61		110.02		111.58			112.55		102.44		110.36		109.27		108.66
LLS	119.60		108.47		109.40		109.43		111.72			113.92		104.63		109.89		100.94		107.34
ANS	118.31		110.01		109.08		107.04		111.11			111.02		104.52		110.52		104.67		107.68
WTI less Maya	(5.94	)	(5.58	)	(5.38	)	(4.73	)	(5.41	)		(8.54	)	(3.55	)	6.47		8.12		0.63
WTI less WCS	27.00		19.80		15.30		27.55		22.41			27.02		16.71		23.07		31.23		24.51
Natural Gas ($/MCF)
Henry Hub	2.46		2.27		2.87		3.39		2.75			3.48		4.01		3.55		3.84		3.72
Product Margins ($/BBL)
Atlantic Basin/Europe
East Coast Gasoline less Brent	6.18		17.28		19.31		8.43		12.80			9.70		14.83		13.05		2.95		10.13
East Coast Distillate less Brent	15.72		16.87		21.03		23.14		19.19			18.78		19.09		17.43		16.35		17.91
Gulf Coast
Gulf Coast Gasoline less LLS	5.06		11.44		12.35		(1.34	)	6.88			3.41		9.14		5.86		2.89		5.33
Gulf Coast Distillate less LLS	12.99		15.13		19.68		18.03		16.46			15.67		15.52		16.66		21.48		17.33
Central Corridor
Central Gasoline less WTI	18.32		27.23		34.24		21.58		25.34			24.04		26.18		14.55		3.23		17.00
Central Distillate less WTI	27.86		30.38		39.47		42.30		35.00			35.72		29.35		22.95		25.52		28.39
Western/Pacific
West Coast Gasoline less ANS	15.91		17.11		18.56		12.94		16.13			18.34		20.59		12.39		8.71		15.01
West Coast Distillate less ANS	17.66		14.68		22.63		22.80		19.44			20.67		16.84		18.42		19.60		18.89
Worldwide Market Crack Spread ($/BBL)*	12.78		17.85		21.61		14.39		16.66			15.50		17.56		13.44		9.62		14.03
* Weighted average based on Phillips 66 crude capacity.

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MARKETING AND SPECIALTIES
	2012							2013
	1st Qtr		2nd Qtr		3rd Qtr	4th Qtr	YTD	1st Qtr	2nd Qtr	3rd Qtr	4th Qtr	YTD
Marketing and Specialties Net Income (Loss) Attributable to Phillips 66 ($ Millions)
Marketing and Other	(67	)	201		46	83	263	173	255	195	50	673
Specialties	44		42		38	30	154	—	63	31	23	117
Marketing and Specialties
Net Income (Loss) Attributable to Phillips 66	(23	)	243		84	113	417	173	318	226	73	790
Marketing and Specialties Income (Loss) before Income Taxes ($ Millions)
Marketing and Other	(3	)	261		47	114	419	254	385	268	66	973
Specialties	70		68		61	49	248	2	105	49	37	193
Marketing and Specialties
Income before Income Taxes	67		329		108	163	667	256	490	317	103	1,166
Marketing and Specialties Adjusted EBITDA	103		424		144	201	872	312	475	339	126	1,252
Realized Marketing Fuel Margin ($/BBL)*
U.S.	0.22		1.80		0.41	0.99	0.87	1.02	1.77	1.25	0.74	1.21
International	2.42		6.36		3.91	3.99	4.17	3.16	4.93	5.55	3.76	4.36
* On third-party petroleum products sales.
Realized Margins not included in Marketing Fuel Margin
($ Millions)*
Marketing and Other	178		165		189	157	689	210	184	141	121	656
Specialties	95		98		94	86	373	57	96	70	64	287
Total	273		263		283	243	1,062	267	280	211	185	943
* Excludes Gain on Dispositions and Excise Tax Income.
Depreciation and Amortization ($ Millions)
Marketing and Other	34		34		33	35	136	30	23	21	21	95
Specialties	2		3		3	3	11	3	2	1	2	8
Total	36		37		36	38	147	33	25	22	23	103
Operating and SG&A Expense ($ Millions)
Marketing and Other	236		332		282	276	1,126	194	236	225	278	933
Specialties	22		27		29	32	110	32	28	26	27	113
Total	258		359		311	308	1,236	226	264	251	305	1,046
Marketing Petroleum Products Sales (MB/D)
U.S. Marketing
Gasoline	933		1,067		998	1,036	1,009	1,016	1,138	1,111	1,059	1,081
Distillates	820		845		813	771	812	763	817	761	759	775
Other	—		—		—	—	—	—	—	—	—	—
Total	1,753		1,912		1,811	1,807	1,821	1,779	1,955	1,872	1,818	1,856
International Marketing
Gasoline	91		94		93	90	92	89	95	95	92	93
Distillates	168		164		175	185	173	193	190	190	192	192
Other	15		18		19	18	17	16	18	18	17	17
Total	274		276		287	293	282	298	303	303	301	302
Worldwide Marketing
Gasoline	1,024		1,161		1,091	1,126	1,101	1,105	1,233	1,206	1,151	1,174
Distillates	988		1,009		988	956	985	956	1,007	951	951	967
Other	15		18		19	18	17	16	18	18	17	17
Total	2,027		2,188		2,098	2,100	2,103	2,077	2,258	2,175	2,119	2,158
Foreign Currency Gains
(Losses) After-Tax ($ Millions)	1		(7	)	6	5	5	3	1	1	—	5

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CORPORATE AND OTHER
	2012										2013
	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD		1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD
Corporate and Other Net Income (Loss)
Attributable to Phillips 66 ($ Millions)	(70	)	(119	)	(125	)	(120	)	(434	)	(95	)	(126	)	(113	)	(97	)	(431	)
Detail of Net Income (Loss)
Attributable to Phillips 66 ($ Millions)
Net interest expense	(9	)	(45	)	(47	)	(47	)	(148	)	(43	)	(42	)	(41	)	(40	)	(166	)
Corporate overhead	(28	)	(21	)	(30	)	(37	)	(116	)	(34	)	(36	)	(32	)	(43	)	(145	)
Technology	(13	)	(11	)	(11	)	(14	)	(49	)	(12	)	(12	)	(12	)	(14	)	(50	)
Repositioning costs	—		(30	)	(13	)	(12	)	(55	)	—		—		—		—		—
Other	(20	)	(12	)	(24	)	(10	)	(66	)	(6	)	(36	)	(28	)	—		(70	)
Total	(70	)	(119	)	(125	)	(120	)	(434	)	(95	)	(126	)	(113	)	(97	)	(431	)
Before-Tax Net Interest Expense ($ Millions)
Interest expense	(13	)	(83	)	(74	)	(76	)	(246	)	(70	)	(69	)	(68	)	(68	)	(275	)
Capitalized interest	—		—		—		—		—		—		—		—		—		—
Interest revenue	—		12		2		4		18		5		4		5		6		20
Premium on early debt retirement	—		—		—		(3	)	(3	)	—		(1	)	(2	)	—		(3	)
Total	(13	)	(71	)	(72	)	(75	)	(231	)	(65	)	(66	)	(65	)	(62	)	(258	)
Foreign Currency Gains
(Losses) After-Tax ($ Millions)	—		(1	)	1		—		—		(1	)	—		(1	)	—		(2	)
Phillips 66 Total Company
Debt
Total Debt ($ Millions)	6,178		7,986		7,978		6,974		6,974		6,971		6,469		6,156		6,155		6,155
Debt-to-Capital Ratio (%)	20	%	30	%	28	%	25	%	25	%	25	%	23	%	22	%	22	%	22	%
Total Equity ($ Millions)	24,943		18,979		20,606		20,806		20,806		21,378		21,690		21,994		22,392		22,392

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NON-GAAP FINANCIAL MEASURES RECONCILIATION
	Millions of Dollars
	2012										2013
	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD		1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD
Reconciliation of Midstream Adjusted EBITDA to Net Income
Midstream Net Income Attributable to Phillips 66	108		(75	)	(72	)	92		53		110		90		148		121		469
Plus:
Net income attributable to noncontrolling interests	2		1		2		2		7		3		2		5		7		17
Provision for income taxes	64		(51	)	(25	)	41		29		62		50		87		66		265
Depreciation and amortization	18		22		19		24		83		19		19		19		31		88
Midstream EBITDA	192		(103	)	(76	)	159		172		194		161		259		225		839
Adjustments (pre-tax):
EBITDA attributable to Phillips 66 noncontrolling interests	(4	)	(2	)	(3	)	(4	)	(13	)	(5	)	(4	)	(7	)	(8	)	(24	)
Proportional share of select equity affiliates income taxes	2		(1	)	(1	)	—		—		—		2		1		1		4
Proportional share of select equity affiliates net interest	24		21		19		21		85		22		22		33		33		110
Proportional share of select equity affiliates depreciation and amortization	55		17		29		30		131		31		33		37		38		139
Impairments	—		275		248		—		523		—		—		—		—		—
Pending claims and settlements	—		—		—		(37	)	(37	)	—		—		—		—		—
Hurricane-related costs	—		—		—		2		2		—		—		—		—		—
Midstream Adjusted EBITDA*	269		207		216		171		863		242		214		323		289		1,068
*Proportional share of select equity affiliates is net of noncontrolling interests.
Reconciliation of Chemicals Adjusted EBITDA to Net Income
Chemicals Net Income	217		207		153		246		823		282		181		262		261		986
Plus:
Provision for income taxes	83		100		83		100		366		121		51		105		98		375
Chemicals EBITDA	300		307		236		346		1,189		403		232		367		359		1,361
Adjustments (pre-tax):
Proportional share of equity affiliates income taxes	17		21		22		19		79		19		25		25		24		93
Proportional share of equity affiliates net interest	5		3		2		3		13		2		3		2		3		10
Proportional share of equity affiliates depreciation and amortization	51		48		51		63		213		58		60		60		68		246
Impairments	—		—		43		—		43		—		—		—		—		—
Premium on early debt retirement	—		57		87		—		144		—		—		—		—		—
Chemicals Adjusted EBITDA	373		436		441		431		1,681		482		320		454		454		1,710
Reconciliation of Refining Adjusted EBITDA to Net Income
Refining Net Income	393		916		1,545		363		3,217		922		481		(2	)	450		1,851
Plus:
Provision for income taxes	223		630		806		408		2,067		477		294		38		282		1,091
Depreciation and amortization	159		161		165		170		655		177		168		170		170		685
Refining EBITDA	775		1,707		2,516		941		5,939		1,576		943		206		902		3,627
Adjustments (pre-tax):
Proportional share of select equity affiliates income taxes	—		2		2		1		5		2		1		—		(7	)	(4	)
Proportional share of select equity affiliates net interest	(32	)	(30	)	(29	)	(27	)	(118	)	(26	)	(24	)	(23	)	(22	)	(95	)
Proportional share of select equity affiliates depreciation and amortization	60		59		58		59		236		58		57		60		62		237
Gain on asset sales	—		(185	)	—		—		(185	)	—		—		—		—		—
Impairments	42		—		—		564		606		—		—		—		—		—
Pending claims and settlements	31		—		—		—		31		—		—		—		—		—
Tax law impacts	—		—		—		—		—		(22	)	—		—		—		(22	)
Hurricane-related costs	—		—		—		54		54		—		—		—		—		—
Refining Adjusted EBITDA	876		1,553		2,547		1,592		6,568		1,588		977		243		935		3,743
Reconciliation of Marketing and Specialties Adjusted EBITDA to Net Income
Marketing and Specialties Net Income	(23	)	243		84		113		417		173		318		226		73		790
Plus:
Provision for income taxes	90		86		24		50		250		83		172		91		30		376
Depreciation and amortization	36		37		36		38		147		33		25		22		23		103
Marketing and Specialties EBITDA	103		366		144		201		814		289		515		339		126		1,269
Adjustments (pre-tax):
Gain on asset sales	—		(4	)	—		—		(4	)	—		(40	)	—		—		(40	)
Pending claims and settlements	—		62		—		—		62		(25	)	—		—		—		(25	)
Exit of a business line	—		—		—		—		—		54		—		—		—		54
Tax law impacts	—		—		—		—		—		(6	)	—		—		—		(6	)
Marketing and Specialties Adjusted EBITDA	103		424		144		201		872		312		475		339		126		1,252
Note: Certain prior period financial and operating information in this report has been recast to reflect the reclassification of the company’s flow improver business as discontinued operations. This business was previously included in the Marketing and Specialties segment.

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