Phillips 66 (PSX) 10-Q 1 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	3 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Document and Entity Information [Abstract]
Entity Registrant Name	Phillips 66
Entity Central Index Key	1534701
Trading Symbol	PSX
Current Fiscal Year End Date	-19
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Amendment Flag	FALSE
Entity Common Stock, Shares Outstanding	541,632,079
Common Stock, Par or Stated Value Per Share	$0.01	$0.01

Consolidated_Statement_of_Inco

Consolidated Statement of Income (USD $)	3 Months Ended
In Millions, except Share data in Thousands, unless otherwise specified	Mar. 31, 2015		Mar. 31, 2014
Sales and other operating revenues
Sales and other operating revenues	$22,778	[1]	$40,283	[1]
Equity in earnings of affiliates	456		778
Net gain on dispositions	122		7
Other income	70		31
Total Revenues and Other Income	23,426		41,099
Costs and Expenses
Purchased crude oil and products	16,695		34,381
Operating expenses	1,094		1,090
Selling, general and administrative expenses	394		402
Depreciation and amortization	253		234
Impairments			1
Taxes other than income taxes	3,462	[1]	3,638	[1]
Accretion on discounted liabilities	5		6
Interest and debt expense	86		68
Foreign currency transaction losses (gains)	49		-19
Total Costs and Expenses	22,038		39,801
Income from continuing operations before income taxes	1,388		1,298
Provision for income taxes	391		426
Income From Continuing Operations	997		872
Income from discontinued operations			706	[2],[3]
Net Income	997		1,578
Less: net income attributable to noncontrolling interests	10		6
Net Income Attributable to Phillips 66	987		1,572
Amounts Attributable to Phillips 66 Common Stockholders:
Income from continuing operations	987		866
Income from discontinued operations			$706
Basic
Continuing operations	$1.80		$1.48
Discontinued operations			$1.21
Net Income Attributable to Phillips 66 Per Share of Common Stock	$1.80		$2.69
Diluted
Continuing operations	$1.79		$1.47
Discontinued operations			$1.20
Net Income Attributable to Phillips 66 Per Share of Common Stock	$1.79		$2.67
Dividends Paid Per Share of Common Stock (dollars)	$0.50		$0.39
Average Common Shares Outstanding (in thousands)
Basic	548,200	[2]	584,053	[2]
Diluted	552,337	[2]	589,575	[2]
[1]	Includes excise taxes on petroleum products sales: $3,362, $3,522
[2]	Net of provision for income taxes on discontinued operations: $-, $5
[3]	Net of provision for income taxes on discontinued operations: $-, $-, $5, $-, $5

Consolidated_Statement_of_Inco1

Consolidated Statement of Income (Parenthetical) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Income Statement [Abstract]
Includes excise taxes on petroleum products sales	$3,362	$3,522
Net of provision for income taxes on discontinued operations	$0	$5

Consolidated_Statement_of_Comp

Consolidated Statement of Comprehensive Income (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Statement of Comprehensive Income [Abstract]
Net Income	$997	$1,578
Actuarial gain/loss:
Amortization to net income of net actuarial loss and settlements	30	12
Plans sponsored by equity affiliates	5	3
Income taxes on defined benefit plans	-10	-5
Defined benefit plans, net of tax	25	10
Foreign currency translation adjustments	-197	31
Income taxes on foreign currency translation adjustments	9	-1
Foreign currency translation adjustments, net of tax	-188	30
Other Comprehensive Income (Loss), Net of Tax	-163	40
Comprehensive Income	834	1,618
Less: comprehensive income attributable to noncontrolling interests	10	6
Comprehensive Income Attributable to Phillips 66	$824	$1,612

Consolidated_Balance_Sheet

Consolidated Balance Sheet (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Millions, unless otherwise specified
Assets
Cash and cash equivalents	$5,390	$5,207
Accounts and notes receivable (net of allowances of $69 million in 2015 and $71 million in 2014)	4,717	6,306
Accounts and notes receivable - related parties	1,020	949
Inventories	4,166	3,397
Prepaid expenses and other current assets	851	837
Total Current Assets	16,144	16,696
Investments and long-term receivables	10,529	10,189
Net properties, plants and equipment	17,918	17,346
Goodwill	3,274	3,274
Intangibles	882	900
Other assets	330	336
Total Assets	49,077	48,741
Liabilities
Accounts payable	6,965	7,488
Accounts payable - related parties	728	576
Short-term debt	35	842
Accrued income and other taxes	1,112	878
Employee benefit obligations	283	462
Other accruals	741	848
Total Current Liabilities	9,864	11,094
Long-term debt	8,914	7,842
Asset retirement obligations and accrued environmental costs	650	683
Deferred income taxes	5,483	5,491
Employee benefit obligations	1,292	1,305
Other liabilities and deferred credits	279	289
Total Liabilities	26,482	26,704
Equity
Common stock (2,500,000,000 shares authorized at $.01 par value) Issued (2015—637,925,189 shares; 2014—637,031,760 shares) Par Value	6	6
Capital in excess of par	19,060	19,040
Treasury stock (at cost: 2015—96,293,110 shares; 2014—90,649,984 shares)	-6,633	-6,234
Retained earnings	10,021	9,309
Accumulated other comprehensive loss	-694	-531
Total Stockholders' Equity	21,760	21,590
Noncontrolling interests	835	447
Total Equity	22,595	22,037
Total Liabilities and Equity	$49,077	$48,741

Consolidated_Balance_Sheet_Par

Consolidated Balance Sheet (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Millions, except Share data, unless otherwise specified
Accounts and notes receivable - allowance	$69	$71
Common stock authorized, shares	2,500,000,000	2,500,000,000
Common stock, par value	$0.01	$0.01
Common stock issued, shares	637,925,189	637,031,760
Treasury stock, shares	96,293,110	90,649,984

Consolidated_Statement_of_Cash

Consolidated Statement of Cash Flows (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015		Mar. 31, 2014
Net Cash Provided by (Used in) Operating Activities, Continuing Operations [Abstract]
Net income	$997		$1,578
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	253		234
Impairments			1
Accretion on discounted liabilities	5		6
Deferred taxes	-6		-444
Undistributed equity earnings	-337		632
Net gain on dispositions	-122		-7
Income from discontinued operations			-706	[1],[2]
Other	90		-21
Working capital adjustments
Decrease (increase) in accounts and notes receivable	1,684		619
Decrease (increase) in inventories	-834		-2,567
Decrease (increase) in prepaid expenses and other current assets	-130		-132
Increase (decrease) in accounts payable	-349		1,505
Increase (decrease) in taxes and other accruals	101		698
Net cash provided by continuing operating activities	1,352		1,396
Net cash provided by discontinued operations			2
Net Cash Provided by Operating Activities	1,352		1,398
Cash Flows From Investing Activities
Capital expenditures and investments	-1,081		-572
Proceeds from asset dispositions	-9	[3]	507	[3]
Advances/loans—related parties	-50
Other	102		13
Net cash used in continuing investing activities	-1,038		-52
Net cash used in discontinued operations			-34
Net Cash Used in Investing Activities	-1,038		-86
Cash Flows From Financing Activities
Issuance of debt	1,169
Repayment of debt	-895		-8
Issuance of common stock	-25		-20
Repurchase of common stock	-399		-640
Share exchange—PSPI transaction			-450
Dividends paid on common stock	-272		-229
Distributions to noncontrolling interests	-6		-4
Net proceeds from issuance of Phillips 66 Partners LP common units	384
Other	-14		-4
Net cash used in continuing financing activities	-58		-1,355
Net Cash Used in Financing Activities	-58		-1,355
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-73		-31
Net Change in Cash and Cash Equivalents	183		-74
Cash and cash equivalents at beginning of period	5,207		5,400
Cash and Cash Equivalents at End of Period	$5,390		$5,326
[1]	Net of provision for income taxes on discontinued operations: $-, $5
[2]	Net of provision for income taxes on discontinued operations: $-, $-, $5, $-, $5
[3]	Includes return of investments in equity affiliates and working capital true-ups on dispositions.

Consolidated_Statement_of_Chan

Consolidated Statement of Changes in Equity (USD $)	Total	Par Value [Member]	Capital in Excess of Par [Member]	Treasury Stock [Member]	Treasury Stock Repurchase Plan [Member]	Treasury Stock Received On Disposition [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Noncontrolling Interests [Member]
In Millions, except Share data, unless otherwise specified
Beginning Balance at Dec. 31, 2013	$22,392	$6	$18,887	($2,602)			$5,622	$37	$442
Beginning Balance, Treasury shares at Dec. 31, 2013	44,106,000
Beginning Balance, Common Stocked Issued, shares at Dec. 31, 2013	634,286,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,578						1,572		6
Other comprehensive loss	40							40
Cash dividends paid on common stock	-229						-229
Treasury stock, Repurchase of common stock and Share exchange-PSPI transaction					-640	-1,350
Benefit plan activity			45
Benefit plan activity							-3
Benefit plan activity	42
Distributions to noncontrolling interests and other									-4
Distributions to noncontrolling interests and other	-4
Shares
Shares issued - share-based compensation	1,499,000
Repurchase of common stock and share exchange-PSPI transaction, shares					8,410,000	17,423,000
Ending Balance at Mar. 31, 2014	21,829	6	18,932	-4,592			6,962	77	444
Ending Balance, Treasury shares at Mar. 31, 2014	69,939,000
Ending Balance, Common Stocked Issued, shares at Mar. 31, 2014	635,785,000
Beginning Balance at Dec. 31, 2014	22,037	6	19,040	-6,234			9,309	-531	447
Beginning Balance, Treasury shares at Dec. 31, 2014	90,649,984
Beginning Balance, Common Stocked Issued, shares at Dec. 31, 2014	637,031,760
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	997						987		10
Other comprehensive loss	-163							-163
Cash dividends paid on common stock	-272						-272
Treasury stock, Repurchase of common stock and Share exchange-PSPI transaction	-399			-399
Benefit plan activity			20
Benefit plan activity							-3
Benefit plan activity	17
Issuance of Phillips 66 Partners LP common units	384								384
Distributions to noncontrolling interests and other									-6
Distributions to noncontrolling interests and other	-6
Shares
Shares issued - share-based compensation	893,000
Repurchase of common stock and share exchange-PSPI transaction, shares	5,643,000
Ending Balance at Mar. 31, 2015	$22,595	$6	$19,060	($6,633)			$10,021	($694)	$835
Ending Balance, Treasury shares at Mar. 31, 2015	96,293,110
Ending Balance, Common Stocked Issued, shares at Mar. 31, 2015	637,925,189

Interim_Financial_Information

Interim Financial Information	3 Months Ended
	Mar. 31, 2015
Additional Basis Of Presentation Disclosure [Abstract]
Interim Financial Information	Interim Financial Information
	The interim financial information presented in the financial statements included in this report is unaudited and includes all known accruals and adjustments necessary, in the opinion of management, for a fair presentation of the consolidated financial position of Phillips 66 and its results of operations and cash flows for the periods presented. Unless otherwise specified, all such adjustments are of a normal and recurring nature. Certain notes and other information have been condensed or omitted from the interim financial statements included in this report. Therefore, these interim financial statements should be read in conjunction with the consolidated financial statements and notes included in our 2014 Annual Report on Form 10-K. The results of operations for the three months ended March 31, 2015, are not necessarily indicative of the results to be expected for the full year.

Variable_Interest_Entities_VIE

Variable Interest Entities (VIEs)	3 Months Ended
	Mar. 31, 2015
Variable Interest Entities [Abstract]
Variable Interest Entities (VIEs)	Variable Interest Entities (VIEs)
	In 2013, we formed Phillips 66 Partners LP, a master limited partnership, to own, operate, develop and acquire primarily fee-based crude oil, refined petroleum product and natural gas liquids pipelines and terminals, as well as other transportation and midstream assets. We consolidate Phillips 66 Partners as we determined that Phillips 66 Partners is a VIE and we are the primary beneficiary. As general partner of Phillips 66 Partners, we have the ability to control its financial interests, as well as the ability to direct the activities of Phillips 66 Partners that most significantly impact its economic performance. See Note 20—Phillips 66 Partners LP, for additional information.
	We hold variable interests in VIEs that have not been consolidated because we are not considered the primary beneficiary. Information on our significant VIEs follows:
	Merey Sweeny, L.P. (MSLP) is a limited partnership that owns a delayed coker and related facilities at the Sweeny Refinery. As discussed more fully in Note 6—Investments, Loans and Long-Term Receivables, in August 2009, a call right was exercised to acquire the 50 percent ownership interest in MSLP of the co-venturer, Petróleos de Venezuela S.A. (PDVSA). That exercise was challenged, and the dispute has been arbitrated. In April 2014, the arbitral tribunal upheld the exercise of the call right and the acquisition of the 50 percent ownership interest. In July 2014, PDVSA filed a petition to vacate the tribunal’s award. Until this matter is resolved, we will continue to use the equity method of accounting for MSLP, and the VIE analysis below is based on the ownership and governance structure in place prior to the exercise of the call right. MSLP is a VIE because, in securing lender consents in connection with our separation from ConocoPhillips in 2012 (the Separation), we provided a 100 percent debt guarantee to the lender of the 8.85% Senior Notes issued by MSLP. PDVSA did not participate in the debt guarantee. In our VIE assessment, this disproportionate debt guarantee, plus other liquidity support provided jointly by us and PDVSA independently of equity ownership, results in MSLP not being exposed to all potential losses. We have determined we are not the primary beneficiary while our call exercise award is subject to vacatur because under the partnership agreement the co-venturers jointly direct the activities of MSLP that most significantly impact economic performance. At March 31, 2015, our maximum exposure to loss represented the outstanding debt principal balance of $189 million and our investment of $135 million.
	We have a 50 percent ownership interest with a 50 percent governance interest in Excel Paralubes (Excel). Excel is a VIE because, in securing lender consents in connection with the Separation, ConocoPhillips provided a 50 percent debt guarantee to the lender of the 7.43% senior secured bonds issued by Excel. We provided a full indemnity to ConocoPhillips for this debt guarantee. Our co-venturer did not participate in the debt guarantee. In our assessment of the VIE, this debt guarantee, plus other liquidity support up to $60 million provided jointly by us and our co-venturer independently of equity ownership, results in Excel not being exposed to all potential losses. We have determined we are not the primary beneficiary because we and our co-venturer jointly direct the activities of Excel that most significantly impact economic performance. We use the equity method of accounting for this investment. At March 31, 2015, our maximum exposure to loss represented 50 percent of the outstanding debt principal balance of $58 million, or $29 million, plus half of the $60 million liquidity support, or $30 million. The book value of our investment in Excel at March 31, 2015, was $143 million.
	In 2013, we entered into a multi-year consignment fuels agreement with a marketer that we supported with debt guarantees. Pursuant to the consignment fuels agreement, we own the fuels inventory, control the fuel marketing at each site, and pay a fixed monthly fee to the marketer. In November 2014, the marketer refinanced its debt which allowed us to remove the debt guarantees in exchange for an extended term on the consignment fuels agreement. We determined the consignment fuels agreement creates a variable interest in the marketer, with the marketer not being exposed to all potential losses as the consignment fuels agreement provides liquidity to the marketer for its debt service costs. We determined we are not the primary beneficiary because we do not have an ownership interest in the marketer or have the power to direct the activities that most significantly impact the economic performance of the marketer. At March 31, 2015, our maximum exposure to loss represented the fixed annual contractual payments under the consignment fuels agreement of approximately $90 million.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2015
Inventory Disclosure [Abstract]
Inventories	Inventories
	Inventories consisted of the following:
		Millions of Dollars
		March 31		December 31
		2015		2014
	Crude oil and petroleum products	$	3,911	3,141
	Materials and supplies	255		256
		$	4,166	3,397
	Inventories valued on the last-in, first-out (LIFO) basis totaled $3,798 million and $3,004 million at March 31, 2015, and December 31, 2014, respectively. The estimated excess of current replacement cost over LIFO cost of inventories amounted to approximately $3,200 million and $3,000 million at March 31, 2015, and December 31, 2014, respectively.
	Certain planned year-to-date reductions in inventory caused liquidations of LIFO inventory values. These liquidations decreased net income by approximately $36 million during the three-month period ended March 31, 2015, while the impact to net income during the three-month period ended March 31, 2014, was not material.

Business_Combinations

Business Combinations	3 Months Ended
	Mar. 31, 2015
Business Combinations [Abstract]
Business Combination Disclosure	Business Combinations
	We completed the following acquisitions in 2014:
	•	In August 2014, we acquired a 7.1 million-barrel-storage-capacity crude oil and petroleum products terminal located near Beaumont, Texas, to promote growth plans in our Midstream segment.
	•	In July 2014, we acquired Spectrum Corporation, a private label and specialty lubricants business headquartered in Memphis, Tennessee. The acquisition supports our plans to selectively grow stable-return businesses in our Marketing and Specialties (M&S) segment.
	•	In March 2014, we acquired our co-venturer’s interest in an entity that operates a power and steam generation plant located in Texas that is included in our M&S segment. This acquisition provided us with full operational control over a key facility providing utilities and other services to one of our refineries.
	We funded each of these acquisitions with cash on hand. Total cash consideration paid in 2014 was $741 million, net of cash acquired. Cash consideration paid for acquisitions is included in the “Capital expenditures and investments” line of our consolidated statement of cash flows. In the aggregate, as of December 31, 2014, we provisionally recorded $471 million of properties, plants and equipment (PP&E), $232 million of goodwill, $196 million of intangible assets, $70 million of net working capital and $109 million of long-term liabilities. Our acquisition accounting for the transactions completed in March 2014 and August 2014 is final. The completion of our acquisition accounting for the July 2014 transaction is expected to be finalized in the second quarter of 2015. There were no material measurement period adjustments recorded in the first quarter of 2015.

Assets_Held_for_Sale_or_Sold

Assets Held for Sale or Sold	3 Months Ended
	Mar. 31, 2015
Disposal Group, Including Discontinued Operation, Additional Disclosures [Abstract]
Assets Held for Sale or Sold	Assets Held for Sale or Sold
	In July 2014, we entered into an agreement to sell the Bantry Bay terminal in Ireland, which was included in our Refining segment. Accordingly, the net assets of the terminal were classified as held for sale, which resulted in a before-tax impairment of $12 million from reducing the carrying value of the long-lived assets to estimated fair value less costs to sell. As of December 31, 2014, long-lived assets of $77 million were recorded in the “Prepaid expenses and other current assets” line of our consolidated balance sheet. In addition, an immaterial amount of long-term liabilities were recorded in the “Other accruals” line of our consolidated balance sheet. In February 2015, we completed the sale of the terminal. At the time of the disposition, the terminal had a net carrying value of $68 million, which primarily related to net PP&E. An immaterial gain was recognized on this disposition.
	In February 2014, we exchanged the stock of Phillips Specialty Products Inc. (PSPI), a flow improver business, which was included in our M&S segment, for shares of Phillips 66 common stock owned by another party. The PSPI share exchange resulted in the receipt of approximately 17.4 million shares of Phillips 66 common stock, which are held as treasury shares, and the recognition of a before-tax gain of $696 million. At the time of the disposition, PSPI had a net carrying value of $685 million, which primarily included $481 million of cash and cash equivalents, $60 million of net PP&E and $117 million of allocated goodwill. Cash and cash equivalents of $450 million included in PSPI’s net carrying value is reflected as a financing cash outflow in the “Share exchange—PSPI transaction” line of our consolidated statement of cash flows. Revenues, income before-tax and net income from discontinued operations, excluding the recognized before-tax gain of $696 million, were not material for the three-month period ended March 31, 2014.
	In July 2013, we completed the sale of the Immingham Combined Heat and Power Plant (ICHP), which was included in our M&S segment. A gain was deferred due to an indemnity provided to the buyer, which expired in April 2015. A portion of the deferred gain is denominated in a foreign currency; accordingly, the amount of the deferred gain translated into U.S. dollars is subject to change based on currency fluctuations. Absent claims under the indemnity, the deferred gain will be recognized into earnings as our exposure under this indemnity declines. As of December 31, 2014, the deferred gain was $243 million. In the first quarter of 2015, we recognized $110 million of the previously deferred gain, which is recorded in the “Net gain on dispositions” line of our consolidated statement of income. As of March 31, 2015, the remaining deferred gain was $132 million, all of which we expect to recognize in the second quarter of 2015.

Investments_Loans_and_LongTerm

Investments, Loans and Long-Term Receivables	3 Months Ended
	Mar. 31, 2015
Equity Method Investments and Joint Ventures [Abstract]
Investments, Loans and Long-Term Receivables	Investments, Loans and Long-Term Receivables
	Equity Investments
	Summarized 100 percent financial information for WRB Refining LP (WRB) and Chevron Phillips Chemical Company LLC (CPChem) were as follows:
		Millions of Dollars
		Three Months Ended
		31-Mar
		2015		2014
	Revenues	$	4,906	7,998
	Income before income taxes	692		1,124
	Net income	672		1,101
	WRB
	WRB is a 50-percent-owned business venture with Cenovus Energy Inc. (Cenovus). Cenovus was obligated to contribute $7.5 billion, plus accrued interest, to WRB over a 10-year period that began in 2007. In the first quarter of 2014, Cenovus prepaid its remaining balance under this obligation. As a result, WRB declared a special dividend, which was distributed to the co-venturers in March 2014. Of the $1,232 million that we received, $760 million was considered a return on our investment in WRB (an operating cash inflow), and $472 million was considered a return of our investment in WRB (an investing cash inflow). The return of investment portion of the dividend was included in the “Proceeds from asset dispositions” line in our consolidated statement of cash flows. At March 31, 2015, the book value of our investment in WRB was $1,898 million and our basis difference was $3,326 million.
	Other
	In April 2015, Rockies Express Pipeline LLC (REX) repaid $450 million of its debt, reducing its long-term debt to approximately $2.6 billion.  REX funded the repayment through member cash contributions. Our 25 percent share was approximately $112 million, which we contributed to REX in April 2015.
	MSLP owns a delayed coker and related facilities at the Sweeny Refinery. MSLP processes long residue, which is produced from heavy sour crude oil, for a processing fee. Fuel-grade petroleum coke is produced as a by-product and becomes the property of MSLP. Prior to August 28, 2009, MSLP was owned 50/50 by ConocoPhillips and PDVSA. Under the agreements that govern the relationships between the partners, certain defaults by PDVSA with respect to supply of crude oil to the Sweeny Refinery triggered the right to acquire PDVSA’s 50 percent ownership interest in MSLP, which was exercised on August 28, 2009. PDVSA initiated arbitration with the International Chamber of Commerce challenging the exercise of the call right and claiming it was invalid. The arbitral tribunal held hearings on the merits of the dispute in December 2012, and post-hearing briefs were exchanged in March 2013. The arbitral tribunal issued its ruling in April 2014, which upheld the exercise of the call right and the acquisition of the 50 percent ownership interest. In July 2014, PDVSA filed a petition in U.S. district court to vacate the tribunal’s ruling.  Following the Separation, Phillips 66 generally indemnifies ConocoPhillips for liabilities, if any, arising out of the exercise of the call right or otherwise with respect to the joint venture or the refinery. Until this matter is resolved, we will continue to use the equity method of accounting for our investment in MSLP.

Properties_Plants_and_Equipmen

Properties, Plants and Equipment	3 Months Ended
	Mar. 31, 2015
Property, Plant and Equipment [Abstract]
Properties, Plants and Equipment	Properties, Plants and Equipment
	Our investment in PP&E, with the associated accumulated depreciation and amortization (Accum. D&A), was:
		Millions of Dollars
		31-Mar-15				31-Dec-14
		Gross		Accum.	Net	Gross	Accum.	Net
		PP&E		D&A	PP&E	PP&E	D&A	PP&E
	Midstream	$	5,337	1,209	4,128	4,726	1,185	3,541
	Chemicals	—		—	—	—	—	—
	Refining	20,126		7,558	12,568	19,951	7,424	12,527
	Marketing and Specialties	1,410		702	708	1,490	738	752
	Corporate and Other	983		469	514	978	452	526
		$	27,856	9,938	17,918	27,145	9,799	17,346

Earnings_Per_Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share
	The numerator of basic earnings per share (EPS) is net income attributable to Phillips 66, reduced by noncancelable dividends paid on unvested share-based employee awards during the vesting period (participating securities). 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 attributable to Phillips 66, which is reduced only by dividend equivalents paid on participating securities for which the dividends are more dilutive than the participation of the awards in the earnings of the periods presented. 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.
		Three Months Ended
		31-Mar
		2015					2014
		Basic			Diluted		Basic		Diluted
	Amounts attributed to Phillips 66 Common Stockholders (millions):
	Income from continuing operations attributable to Phillips 66	$	987		987		866		866
	Income allocated to participating securities	(2		)	(1	)	(1	)	—
	Income from continuing operations available to common stockholders	985			986		865		866
	Discontinued operations	—			—		706		706
	Net Income available to common stockholders	$	985		986		1,571		1,572
	Weighted-average common shares outstanding (thousands):	543,469			548,200		580,027		584,053
	Effect of stock-based compensation	4,731			4,137		4,026		5,522
	Weighted-average common shares outstanding—EPS	548,200			552,337		584,053		589,575
	Earnings Per Share of Common Stock (dollars):
	Income from continuing operations attributable to Phillips 66	$	1.8		1.79		1.48		1.47
	Discontinued operations	—			—		1.21		1.2
	Earnings Per Share	$	1.8		1.79		2.69		2.67

Debt

Debt	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Debt	Debt
	In March 2015, we repaid $800 million of 1.95% Senior Notes upon maturity.
	Debt Issuance
	During February 2015, Phillips 66 Partners closed on a public offering of $1.1 billion aggregate principal amount of unsecured senior notes, consisting of:
	•	$300 million aggregate principal amount of 2.646% Senior Notes due 2020.
	•	$500 million aggregate principal amount of 3.605% Senior Notes due 2025.
	•	$300 million aggregate principal amount of 4.680% Senior Notes due 2045.
	Phillips 66 Partners utilized a portion of the net proceeds to fund part of the purchase price for its acquisition of our equity interests in Explorer Pipeline Company, DCP Sand Hills Pipeline, LLC, and DCP Southern Hills Pipeline, LLC. The remaining proceeds were used to repay existing borrowings from a subsidiary of Phillips 66, fund capital expenditures and for general partnership purposes. See Note 20—Phillips 66 Partners LP, for additional information.
	Credit Facilities
	At both March 31, 2015, and December 31, 2014, we had no direct outstanding borrowings under our $5 billion revolving credit agreement, while $51 million in letters of credit had been issued that were supported by it. At March 31, 2015, and December 31, 2014, no amount and $18 million, respectively, were outstanding under the $500 million revolving credit agreement of Phillips 66 Partners. Accordingly, as of March 31, 2015, an aggregate $5.4 billion of total capacity was available under these facilities.

Guarantees

Guarantees	3 Months Ended
	Mar. 31, 2015
Guarantees [Abstract]
Guarantees	Guarantees
	At March 31, 2015, we were liable for certain contingent obligations under various contractual arrangements as described below. We recognize a liability, at inception, for the fair value of our obligation as a guarantor for newly issued or modified guarantees. Unless the carrying amount of the liability is noted below, we have not recognized a liability either because the guarantees were issued prior to December 31, 2002, or because the fair value of the obligation is immaterial. In addition, unless otherwise stated, we are not currently performing with any significance under the guarantee and expect future performance to be either immaterial or have only a remote chance of occurrence.
	Guarantees of Joint Venture Debt
	In 2012, in connection with the Separation, we issued a guarantee for 100 percent of the 8.85% Senior Notes issued by MSLP in July 1999. At March 31, 2015, the maximum potential amount of future payments to third parties under the guarantee was estimated to be $189 million, which could become payable if MSLP fails to meet its obligations under the senior notes agreement. The senior notes mature in 2019.
	Other Guarantees
	We have residual value guarantees associated with leases with maximum future potential payments totaling $361 million. We have other guarantees with maximum future potential payment amounts totaling $123 million, which consist primarily of guarantees to fund the short-term cash liquidity deficits of certain joint ventures and guarantees of the lease payment obligations of a joint venture. These guarantees generally extend up to 9 years or life of the venture.
	Indemnifications
	Over the years, we have entered into various agreements to sell ownership interests in certain corporations, joint ventures and assets that gave rise to qualifying indemnifications. Agreements associated with these sales include indemnifications for taxes, litigation, environmental liabilities, permits and licenses, supply arrangements, and employee claims; and real estate indemnity against tenant defaults. The provisions of these indemnifications vary greatly. The majority of these indemnifications are related to environmental issues with generally indefinite terms, and the maximum amount of future payments is generally unlimited. The carrying amount recorded for indemnifications at March 31, 2015, was $216 million. We amortize the indemnification liability over the relevant time period, if one exists, based on the facts and circumstances surrounding each type of indemnity. In cases where the indemnification term is indefinite, we will reverse the liability when we have information the liability is essentially relieved or amortize the liability over an appropriate time period as the fair value of our indemnification exposure declines. Although it is reasonably possible future payments may exceed amounts recorded, due to the nature of the indemnifications, it is not possible to make a reasonable estimate of the maximum potential amount of future payments. Included in the recorded carrying amount were $102 million of environmental accruals for known contamination that were included in asset retirement obligations and accrued environmental costs at March 31, 2015. For additional information about environmental liabilities, see Note 11—Contingencies and Commitments.
	Indemnification and Release Agreement
	In 2012, we entered into the Indemnification and Release Agreement with ConocoPhillips. This agreement governs the treatment between ConocoPhillips and us of matters relating to indemnification, insurance, litigation responsibility and management, and litigation document sharing and cooperation arising in connection with the Separation. Generally, the agreement provides for cross-indemnities principally designed to place financial responsibility for the obligations and liabilities of our business with us and financial responsibility for the obligations and liabilities of ConocoPhillips’ business with ConocoPhillips. The agreement also establishes procedures for handling claims subject to indemnification and related matters.

Contingencies_and_Commitments

Contingencies and Commitments	3 Months Ended
	Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Contingencies and Commitments	Contingencies and Commitments
	A number of lawsuits involving a variety of claims that arose in the ordinary course of business have been filed against us or are subject to indemnifications provided by us. We also may be required to remove or mitigate the effects on the environment of the placement, storage, disposal or release of certain chemical, mineral and petroleum substances at various active and inactive sites. We regularly assess the need for accounting recognition or disclosure of these contingencies. In the case of all known contingencies (other than those related to income taxes), we accrue a liability when the loss is probable and the amount is reasonably estimable. If a range of amounts can be reasonably estimated and no amount within the range is a better estimate than any other amount, then the minimum of the range is accrued. We do not reduce these liabilities for potential insurance or third-party recoveries. If applicable, we record receivables for probable insurance or other third-party recoveries. In the case of income-tax-related contingencies, we use a cumulative probability-weighted loss accrual in cases where sustaining a tax position is less than certain.
	Based on currently available information, we believe it is remote that future costs related to known contingent liability exposures will exceed current accruals by an amount that would have a material adverse impact on our consolidated financial statements. As we learn new facts concerning contingencies, we reassess our position both with respect to accrued liabilities and other potential exposures. Estimates particularly sensitive to future changes include contingent liabilities recorded for environmental remediation, tax and legal matters. Estimated future environmental remediation costs are subject to change due to such factors as the uncertain magnitude of cleanup costs, the unknown time and extent of such remedial actions that may be required, and the determination of our liability in proportion to that of other potentially responsible parties. Estimated future costs related to tax and legal matters are subject to change as events evolve and as additional information becomes available during the administrative and litigation processes.
	Environmental
	We are subject to international, federal, state and local environmental laws and regulations. When we prepare our consolidated financial statements, we record accruals for environmental liabilities based on management’s best estimates, using all information available at the time. We measure estimates and base liabilities on currently available facts, existing technology, and presently enacted laws and regulations, taking into account stakeholder and business considerations. When measuring environmental liabilities, we also consider our prior experience in remediation of contaminated sites, other companies’ cleanup experience, and data released by the U.S. Environmental Protection Agency (EPA) or other organizations. We consider unasserted claims in our determination of environmental liabilities, and we accrue them in the period they are both probable and reasonably estimable.
	Although liability of those potentially responsible for environmental remediation costs is generally joint and several for federal sites and frequently so for state sites, we are usually only one of many companies alleged to have liability at a particular site. Due to such joint and several liabilities, we could be responsible for all cleanup costs related to any site at which we have been designated as a potentially responsible party. We have been successful to date in sharing cleanup costs with other financially sound companies. Many of the sites at which we are potentially responsible are still under investigation by the EPA or the state agencies concerned. Prior to actual cleanup, those potentially responsible normally assess the site conditions, apportion responsibility and determine the appropriate remediation. In some instances, we may have no liability or may attain a settlement of liability. Where it appears that other potentially responsible parties may be financially unable to bear their proportional share, we consider this inability in estimating our potential liability, and we adjust our accruals accordingly. As a result of various acquisitions in the past, we assumed certain environmental obligations. Some of these environmental obligations are mitigated by indemnifications made by others for our benefit and some of the indemnifications are subject to dollar and time limits.
	We are currently participating in environmental assessments and cleanups at numerous federal Superfund and comparable state sites. After an assessment of environmental exposures for cleanup and other costs, we make accruals on an undiscounted basis (except those pertaining to sites acquired in a purchase business combination, which we record on a discounted basis) for planned investigation and remediation activities for sites where it is probable future costs will be incurred and these costs can be reasonably estimated. At March 31, 2015, our total environmental accrual was $480 million, compared with $496 million at December 31, 2014. We expect to incur a substantial amount of these expenditures within the next 30 years. We have not reduced these accruals for possible insurance recoveries. In the future, we may be involved in additional environmental assessments, cleanups and proceedings.
	Legal Proceedings
	Our legal organization applies its knowledge, experience and professional judgment to the specific characteristics of our cases, employing a litigation management process to manage and monitor the legal proceedings against us. Our process facilitates the early evaluation and quantification of potential exposures in individual cases. This process also enables us to track those cases that have been scheduled for trial and/or mediation. Based on professional judgment and experience in using these litigation management tools and available information about current developments in all our cases, our legal organization regularly assesses the adequacy of current accruals and determines if adjustment of existing accruals, or establishment of new accruals, is required.
	Other Contingencies
	We have contingent liabilities resulting from throughput agreements with pipeline and processing companies not associated with financing arrangements. Under these agreements, we may be required to provide any such company with additional funds through advances and penalties for fees related to throughput capacity not utilized.
	At March 31, 2015, we had performance obligations secured by letters of credit and bank guarantees of $665 million (of which $51 million was issued under the provisions of our revolving credit facility, and the remainder was issued as direct bank letters of credit and bank guarantees) related to various purchase and other commitments incident to the ordinary conduct of business.

Derivatives_and_Financial_Inst

Derivatives and Financial Instruments	3 Months Ended
	Mar. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Financial Instruments	Derivatives and Financial Instruments
	Derivative Instruments
	We use financial and commodity-based derivative contracts to manage exposures to fluctuations in foreign currency exchange rates and commodity prices or to capture market opportunities. Since we are not currently using cash-flow hedge accounting, all gains and losses, realized or unrealized, from commodity derivative contracts have been recognized in the consolidated statement of income. Gains and losses from derivative contracts held for trading not directly related to our physical business, whether realized or unrealized, have been reported net in “Other income” on our consolidated statement of income. Cash flows from all our derivative activity for the periods presented appear in the operating section of the consolidated statement of cash flows.
	Purchase and sales contracts with fixed minimum notional volumes for commodities that are readily convertible to cash (e.g., crude oil and gasoline) are recorded on the balance sheet as derivatives unless the contracts are eligible for, and we elect, the normal purchases and normal sales exception (i.e., contracts to purchase or sell quantities we expect to use or sell over a reasonable period in the normal course of business). We generally apply this normal purchases and normal sales exception to eligible crude oil, refined product, natural gas liquids (NGL), natural gas and power commodity purchase and sales contracts; however, we may elect not to apply this exception (e.g., when another derivative instrument will be used to mitigate the risk of the purchase or sales contract but hedge accounting will not be applied, in which case both the purchase or sales contract and the derivative contract mitigating the resulting risk will be recorded on the balance sheet at fair value). Our derivative instruments are held at fair value on our consolidated balance sheet. For further information on the fair value of derivatives, see Note 13—Fair Value Measurements.
	Commodity Derivative Contracts—We operate in the worldwide crude oil, refined products, NGL, natural gas and electric power markets and are exposed to fluctuations in the prices for these commodities. These fluctuations can affect our revenues, as well as the cost of operating, investing and financing activities. Generally, our policy is to remain exposed to the market prices of commodities; however, we use futures, forwards, swaps and options in various markets to balance physical systems, meet customer needs, manage price exposures on specific transactions, and do a limited, immaterial amount of trading not directly related to our physical business. We also use the market knowledge gained from these activities to capture market opportunities such as moving physical commodities to more profitable locations, storing commodities to capture seasonal or time premiums, and blending commodities to capture quality upgrades. Derivatives may be used to optimize these activities, which may move our risk profile away from market average prices.
	The following table indicates the balance sheet line items that include the fair values of commodity derivative assets and liabilities presented net (i.e., commodity derivative assets and liabilities with the same counterparty are netted where the right of setoff exists); however, the balances in the following table are presented gross. For information on the impact of counterparty netting and collateral netting, see Note 13—Fair Value Measurements.
		Millions of Dollars
		March 31				December 31
		2015				2014
	Assets
	Accounts and notes receivable	$	—			(1	)
	Prepaid expenses and other current assets	1,989				3,839
	Other assets	36				29
	Liabilities
	Other accruals	1,776				3,472
	Other liabilities and deferred credits	11				1
	Hedge accounting has not been used for any item in the table.
	The gains (losses) incurred from commodity derivatives, and the line items where they appear on our consolidated statement of income, were:
		Millions of Dollars
		Three Months Ended
		31-Mar
		2015				2014
	Sales and other operating revenues	$	(31	)		57
	Other income	43				14
	Purchased crude oil and products	20				2
	Hedge accounting has not been used for any item in the table.
	The following table summarizes our material net exposures resulting from outstanding commodity derivative contracts. These financial and physical derivative contracts are primarily used to manage price exposure on our underlying operations. The underlying exposures may be from non-derivative positions such as inventory volumes. Financial derivative contracts may also offset physical derivative contracts, such as forward sales contracts. As of March 31, 2015, and December 31, 2014, the percentages of our derivative contract volume expiring within the next 12 months were approximately 98 percent and 99 percent, respectively.
		Open Position
		Long/(Short)
		March 31			December 31
		2015			2014
	Commodity
	Crude oil, refined products and NGL (millions of barrels)	(23	)		(11	)
	Credit Risk
	Financial instruments potentially exposed to concentrations of credit risk consist primarily of over-the-counter (OTC) derivative contracts and trade receivables.
	The credit risk from our OTC derivative contracts, such as forwards and swaps, derives from the counterparty to the transaction. Individual counterparty exposure is managed within predetermined credit limits and includes the use of cash-call margins when appropriate, thereby reducing the risk of significant nonperformance. We also use futures, swaps and option contracts that have a negligible credit risk because these trades are cleared with an exchange clearinghouse and subject to mandatory margin requirements until settled; however, we are exposed to the credit risk of those exchange brokers for receivables arising from daily margin cash calls, as well as for cash deposited to meet initial margin requirements.
	Our trade receivables result primarily from the sale of products from, or related to, our refinery operations and reflect a broad national and international customer base, which limits our exposure to concentrations of credit risk. The majority of these receivables have payment terms of 30 days or less. We continually monitor this exposure and the creditworthiness of the counterparties and recognize bad debt expense based on historical write-off experience or specific counterparty collectability. Generally, we do not require collateral to limit the exposure to loss; however, we will sometimes use letters of credit, prepayments, and master netting arrangements to mitigate credit risk with counterparties that both buy from and sell to us, as these agreements permit the amounts owed by us or owed to others to be offset against amounts due us.
	Certain of our derivative instruments contain provisions that require us to post collateral if the derivative exposure exceeds a threshold amount. We have contracts with fixed threshold amounts and other contracts with variable threshold amounts that are contingent on our credit rating. The variable threshold amounts typically decline for lower credit ratings, while both the variable and fixed threshold amounts typically revert to zero if our credit ratings fall below investment grade. Cash is the primary collateral in all contracts; however, many contracts also permit us to post letters of credit as collateral.
	The aggregate fair values of all derivative instruments with such credit-risk-related contingent features that were in a liability position were not material at March 31, 2015, or December 31, 2014.

Fair_Value_Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements
	Fair Values of Financial Instruments
	We used the following methods and assumptions to estimate the fair value of financial instruments:
	•	Cash and cash equivalents: The carrying amount reported on the consolidated balance sheet approximates fair value.
	•	Accounts and notes receivable: The carrying amount reported on the consolidated balance sheet approximates fair value.
	•	Debt: The carrying amount of our floating-rate debt approximates fair value. The fair value of our fixed-rate debt is estimated based on quoted market prices.
	•	Commodity swaps: Fair value is estimated based on forward market prices and approximates the exit price at period end. When forward market prices are not available, we estimate fair value using the forward price of a similar commodity, adjusted for the difference in quality or location.
	•	Futures: Fair values are based on quoted market prices obtained from the New York Mercantile Exchange, the InterContinental Exchange, or other traded exchanges.
	•	Forward-exchange contracts: Fair value is estimated by comparing the contract rate to the forward rate in effect at the end of the reporting period, which approximates the exit price at that date.
	We carry certain assets and liabilities at fair value, which we measure at the reporting date using an exit price (i.e., the price that would be received to sell an asset or paid to transfer a liability), and disclose the quality of these fair values based on the valuation inputs used in these measurements under the following hierarchy:
	•	Level 1: Fair value measured with unadjusted quoted prices from an active market for identical assets or liabilities.
	•	Level 2: Fair value measured either with: 1) adjusted quoted prices from an active market for similar assets or liabilities; or 2) other valuation inputs that are directly or indirectly observable.
	•	Level 3: Fair value measured with unobservable inputs that are significant to the measurement.
	We classify the fair value of an asset or liability based on the lowest level of input significant to its measurement; however, the fair value of an asset or liability initially reported as Level 3 will be subsequently reported as Level 2 if the unobservable inputs become inconsequential to its measurement or corroborating market data becomes available. Conversely, an asset or liability initially reported as Level 2 will be subsequently reported as Level 3 if corroborating market data becomes unavailable. We made no material transfers in or out of Level 1 during the three-month periods ended March 31, 2015 and 2014.
	Recurring Fair Value Measurements
	Financial assets and liabilities recorded at fair value on a recurring basis consist primarily of investments to support nonqualified deferred compensation plans and derivative instruments. The deferred compensation investments are measured at fair value using unadjusted prices available from national securities exchanges; therefore, these assets are categorized as Level 1 in the fair value hierarchy. We value our exchange-traded commodity derivatives using closing prices provided by the exchange as of the balance sheet date, and these are also classified as Level 1 in the fair value hierarchy. When exchange-cleared contracts lack sufficient liquidity or are valued using either adjusted exchange-provided prices or non-exchange quotes, we classify those contracts as Level 2. OTC financial swaps and physical commodity forward purchase and sales contracts are generally valued using quotations provided by brokers and price index developers such as Platts and Oil Price Information Service. We corroborate these quotes with market data and classify the resulting fair values as Level 2. In certain less liquid markets or for longer-term contracts, forward prices are not as readily available. In these circumstances, OTC swaps and physical commodity purchase and sales contracts are valued using internally developed methodologies that consider historical relationships among various commodities that result in management’s best estimate of fair value. We classify these contracts as Level 3. Financial OTC and physical commodity options are valued using industry-standard models that consider various assumptions, including quoted forward prices for commodities, time value, volatility factors, and contractual prices for the underlying instruments, as well as other relevant economic measures. The degree to which these inputs are observable in the forward markets determines whether the options are classified as Level 2 or 3. We use a mid-market pricing convention (the mid-point between bid and ask prices). When appropriate, valuations are adjusted to reflect credit considerations, generally based on available market evidence.
	The following tables display the fair value hierarchy for our material financial assets and liabilities either accounted for or disclosed at fair value on a recurring basis. These values are determined by treating each contract as the fundamental unit of account; therefore, derivative assets and liabilities with the same counterparty are shown gross (i.e., without the effect of netting where the legal right of setoff exists) in the hierarchy sections of these tables. These tables also show that our Level 3 activity was not material.
	We have master netting arrangements for all of our exchange-cleared derivative instruments, the majority of our OTC derivative instruments, and certain physical commodity forward contracts (primarily pipeline crude oil deliveries). The following tables show the fair value of these contracts on a net basis in the column “Effect of Counterparty Netting,” which is how these also appear on the consolidated balance sheet.
	The carrying values and fair values by hierarchy of our material financial instruments and commodity forward contracts, either carried or disclosed at fair value, including any effects of netting derivative assets with liabilities and netting collateral due to right of setoff or master netting agreements, were:
		Millions of Dollars
		31-Mar-15
		Fair Value Hierarchy				Total Fair Value of Gross Assets & Liabilities	Effect of Counterparty Netting		Effect of Collateral Netting		Difference in Carrying Value and Fair Value		Net Carrying Value Presented on the Balance Sheet	Cash Collateral Received or Paid, Not Offset on Balance Sheet
		Level 1		Level 2	Level 3
	Commodity Derivative Assets
	Exchange-cleared instruments	$	1,146	796	—	1,942	(1,734	)	(101	)	—		107	—
	OTC instruments	—		10	—	10	(6	)	—		—		4	—
	Physical forward contracts*	—		72	1	73	—		—		—		73	—
	Rabbi trust assets	83		—	—	83	N/A		N/A		—		83	N/A
		$	1,229	878	1	2,108	(1,740	)	(101	)	—		267
	Commodity Derivative Liabilities
	Exchange-cleared instruments	$	1,159	575	—	1,734	(1,734	)	—		—		—	—
	OTC instruments	—		12	—	12	(6	)	—		—		6	—
	Physical forward contracts*	—		41	—	41	—		—		—		41	—
	Floating-rate debt	50		—	—	50	N/A		N/A		—		50	N/A
	Fixed-rate debt, excluding capital leases**	—		9,410	—	9,410	N/A		N/A		(711	)	8,699	N/A
		$	1,209	10,038	—	11,247	(1,740	)	—		(711	)	8,796
	* Physical forward contracts may have a larger value on the balance sheet than disclosed in the fair value hierarchy when the remaining contract term at the reporting date is greater than 12 months and the short-term portion is an asset while the long-term portion is a liability, or vice versa.
	** We carry fixed-rate debt on the balance sheet at amortized cost.
		Millions of Dollars
		31-Dec-14
		Fair Value Hierarchy				Total Fair Value of Gross Assets & Liabilities	Effect of Counterparty Netting		Effect of Collateral Netting		Difference in Carrying Value and Fair Value		Net Carrying Value Presented on the Balance Sheet	Cash Collateral Received or Paid, Not Offset on Balance Sheet
		Level 1		Level 2	Level 3
	Commodity Derivative Assets
	Exchange-cleared instruments	$	2,058	1,525	—	3,583	(3,255	)	(225	)	—		103	—
	OTC instruments	—		24	—	24	(14	)	—		—		10	—
	Physical forward contracts*	—		253	7	260	(38	)	—		—		222	—
	Rabbi trust assets	76		—	—	76	N/A		N/A		—		76	N/A
		$	2,134	1,802	7	3,943	(3,307	)	(225	)	—		411
	Commodity Derivative Liabilities
	Exchange-cleared instruments	$	1,833	1,422	—	3,255	(3,255	)	—		—		—	—
	OTC instruments	—		29	—	29	(14	)	—		—		15	—
	Physical forward contracts*	—		189	—	189	(38	)	—		—		151	—
	Floating-rate debt	68		—	—	68	N/A		N/A		—		68	N/A
	Fixed-rate debt, excluding capital leases**	—		8,806	—	8,806	N/A		N/A		(400	)	8,406	N/A
		$	1,901	10,446	—	12,347	(3,307	)	—		(400	)	8,640
	* Physical forward contracts may have a larger value on the balance sheet than disclosed in the fair value hierarchy when the remaining contract term at the reporting date is greater than 12 months and the short-term portion is an asset while the long-term portion is a liability, or vice versa.
	** We carry fixed-rate debt on the balance sheet at amortized cost.
	The values presented in the preceding tables appear on our balance sheet as follows: for commodity derivative assets and liabilities, see the first table in Note 12—Derivatives and Financial Instruments; rabbi trust assets appear in the “Investments and long-term receivables” line; and floating-rate and fixed-rate debt appear in the “Short-term debt” and “Long-term debt” lines.

Employee_Benefit_Plans

Employee Benefit Plans	3 Months Ended
	Mar. 31, 2015
Compensation and Retirement Disclosure [Abstract]
Employee Benefit Plans	Employee Benefit Plans
	Pension and Postretirement Plans
	The components of net periodic benefit cost for the three months ended March 31, 2015 and 2014, were as follows:
		Millions of Dollars
		Pension Benefits									Other Benefits
		2015					2014				2015	2014
		U.S.			Int’l.		U.S.		Int’l.
	Components of Net Periodic Benefit Cost
	Three Months Ended March 31
	Service cost	$	31		10		30		10		2	2
	Interest cost	27			7		27		9		2	2
	Expected return on plan assets	(35		)	(10	)	(36	)	(9	)	—	—
	Amortization of prior service cost (credit)	1			—		1		(1	)	—	—
	Recognized net actuarial loss (gain)	19			4		10		3		—	(1	)
	Settlements	1			—		—		—		—	—
	Net periodic benefit cost	$	44		11		32		12		4	3
	During the first three months of 2015, we contributed $3 million to our U.S. plans and $14 million to our international plans. We currently expect to make additional contributions of approximately $60 million to our U.S. plans and $45 million to our international plans during the remainder of 2015.

Accumulated_Other_Comprehensiv

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2015
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss)
	The following table depicts changes in accumulated other comprehensive income (loss) by component, as well as detail on reclassifications out of accumulated other comprehensive income (loss):
		Millions of Dollars
		Defined Benefit Plans			Foreign Currency Translation		Hedging		Accumulated Other Comprehensive Income (Loss)
	31-Dec-13	$	(404	)	443		(2	)	37
	Other comprehensive income before reclassifications	2			30		—		32
	Amounts reclassified from accumulated other comprehensive income (loss)*
	Amortization of defined benefit plan items**
	Actuarial losses	8			—		—		8
	Net current period other comprehensive income	10			30		—		40
	31-Mar-14	$	(394	)	473		(2	)	77
	31-Dec-14	$	(696	)	167		(2	)	(531	)
	Other comprehensive income (loss) before reclassifications	3			(188	)	—		(185	)
	Amounts reclassified from accumulated other comprehensive income (loss)*
	Amortization of defined benefit plan items**
	Actuarial losses and settlements	22			—		—		22
	Net current period other comprehensive income (loss)	25			(188	)	—		(163	)
	31-Mar-15	$	(671	)	(21	)	(2	)	(694	)
	* There were no significant reclassifications related to foreign currency translation or hedging.
	** These accumulated other comprehensive income (loss) components are included in the computation of net periodic benefit cost (see Note 14—Employee Benefit Plans, for additional information).

Cash_Flow_Information

Cash Flow Information	3 Months Ended
	Mar. 31, 2015
Supplemental Cash Flow Information [Abstract]
Cash Flow Information	Cash Flow Information
	PSPI Noncash Stock Exchange
	As discussed more fully in Note 5—Assets Held for Sale or Sold, in February 2014 we completed the exchange of the stock of PSPI for shares of Phillips 66 common stock owned by the other party to the transaction. The noncash portion of the net assets surrendered by us in the exchange was $204 million, and we received approximately 17.4 million shares of our common stock, with a fair value at the time of the exchange of $1.35 billion.

Related_Party_Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions
	Significant transactions with related parties were:
		Millions of Dollars
		Three Months Ended
		31-Mar
		2015		2014
	Operating revenues and other income (a)	$	617	2,067
	Purchases (b)	1,948		3,991
	Operating expenses and selling, general and administrative expenses (c)	31		35
	Interest expense (d)	2		2
	In December 2014, we completed the sale of our interest in the Malaysian Refining Company Sdn. Bdh. (MRC). Accordingly, sales of crude oil to MRC and purchases of refined products from MRC are only included in the 2014 period in the table above.
	(a)	NGL and other petrochemical feedstocks, along with solvents, were sold to CPChem, and gas oil and hydrogen feedstocks were sold to Excel. Certain feedstocks and intermediate products were sold to WRB. We also acted as agent for WRB in supplying crude oil and other feedstocks, wherein the transactional amounts did not impact operating revenues. In addition, we charged several of our affiliates, including CPChem and MSLP, for the use of common facilities, such as steam generators, waste and water treaters, and warehouse facilities.
	(b)	We purchased refined products from WRB. We also acted as agent for WRB in distributing asphalt and solvents, wherein the transactional amounts did not impact purchases. We purchased natural gas and NGL from DCP Midstream, LLC (DCP Midstream) and CPChem for use in our refinery processes and other feedstocks from various affiliates. We also paid fees to various pipeline equity companies for transporting finished refined products. In addition, we paid a price upgrade to MSLP for heavy crude processing. We purchased base oils and fuel products from Excel for use in our refining and specialty businesses.
	(c)	We paid utility and processing fees to various affiliates.
	(d)	We incurred interest expense on a note payable to MSLP.

Segment_Disclosures_and_Relate

Segment Disclosures and Related Information	3 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
Segment Disclosures and Related Information	Segment Disclosures and Related Information
	Our operating segments are:
	1)	Midstream—Gathers, processes, transports and markets natural gas; and transports, fractionates and markets NGL in the United States. In addition, this segment transports crude oil and other feedstocks to our refineries and other locations, delivers refined and specialty products to market, and provides storage services for crude oil and petroleum products. The Midstream segment includes, among other businesses, our 50 percent equity investment in DCP Midstream and our investment in Phillips 66 Partners.
	2)	Chemicals—Manufactures and markets petrochemicals and plastics on a worldwide basis. The Chemicals segment consists of our 50 percent equity investment in CPChem.
	3)	Refining—Buys, sells and refines crude oil and other feedstocks at 14 refineries, mainly in the United States and Europe.
	4)	Marketing and Specialties—Purchases for resale and markets refined products, mainly in the United States and Europe. In addition, this segment includes the manufacturing and marketing of specialty products (such as base oils and lubricants), as well as power generation operations.
	Corporate and Other includes general corporate overhead, interest expense, our investments in new technologies and various other corporate activities. Corporate assets include all cash and cash equivalents.
	We evaluate performance and allocate resources based on net income attributable to Phillips 66. Intersegment sales are at prices that approximate market.
	Analysis of Results by Operating Segment
		Millions of Dollars
		Three Months Ended
		31-Mar
		2015			2014
	Sales and Other Operating Revenues
	Midstream
	Total sales	$	969		2,155
	Intersegment eliminations	(254		)	(292	)
	Total Midstream	715			1,863
	Chemicals	2			2
	Refining
	Total sales	14,271			29,215
	Intersegment eliminations	(8,756		)	(17,558	)
	Total Refining	5,515			11,657
	Marketing and Specialties
	Total sales	16,748			27,046
	Intersegment eliminations	(211		)	(292	)
	Total Marketing and Specialties	16,537			26,754
	Corporate and Other	9			7
	Consolidated sales and other operating revenues	$	22,778		40,283
	Net Income (Loss) Attributable to Phillips 66
	Midstream	$	67		188
	Chemicals	203			316
	Refining	538			306
	Marketing and Specialties	304			137
	Corporate and Other	(125		)	(81	)
	Discontinued operations	—			706
	Consolidated net income attributable to Phillips 66	$	987		1,572
		Millions of Dollars
		March 31				December 31
		2015				2014
	Total Assets
	Midstream	$	7,847			7,295
	Chemicals	5,469				5,209
	Refining	23,040				22,808
	Marketing and Specialties	6,461				7,051
	Corporate and Other	6,260				6,378
	Consolidated total assets	$	49,077			48,741

Income_Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes
	Our effective tax rate for the first quarter of 2015 was 28 percent, compared with 33 percent for the corresponding period of 2014. The decrease in the effective tax rate for the first quarter of 2015, compared with the first quarter of 2014, was primarily attributable to a favorable tax settlement in the United Kingdom and the recognition of a nontaxable gain associated with the sale of ICHP. For additional information on the nontaxable gain, see Note 5—Assets Held for Sale or Sold. The effective tax rate varies from the federal statutory tax rate of 35 percent primarily as a result of state tax expense, offset by the manufacturing deduction and foreign operations.

Phillips_66_Partners_LP

Phillips 66 Partners LP	3 Months Ended
	Mar. 31, 2015
Limited Liability Company or Limited Partnership, Business Organization and Operations [Abstract]
Phillips 66 Partners LP	Phillips 66 Partners LP
	In 2013, we formed Phillips 66 Partners, a master limited partnership, to own, operate, develop and acquire primarily fee-based crude oil, refined petroleum product and NGL pipelines and terminals, as well as other transportation and midstream assets.
	On March 2, 2015, we contributed to Phillips 66 Partners our equity interests in Explorer Pipeline Company (19.5 percent), DCP Sand Hills Pipeline, LLC (33.3 percent), and DCP Southern Hills Pipeline, LLC (33.3 percent). We account for each of these investments under the equity method of accounting. The total consideration for the transaction was $1,010 million, which consisted of $880 million in cash and the issuance of common units and general partner units to us with an aggregate fair value of $130 million.
	On February 23, 2015, Phillips 66 Partners completed a public offering of 5,250,000 common units representing limited partner interests, at a public offering price of $75.50 per unit. The net proceeds at closing were $384 million. Additionally, Phillips 66 Partners closed a public offering of $1.1 billion aggregate principal amount of senior notes. For additional information about the senior notes, see Note 9—Debt.
	Phillips 66 Partners used the net proceeds of both offerings to fund the acquisition transaction discussed above and repay existing borrowings from a subsidiary of Phillips 66. The remainder is expected to be used for capital expenditures and for general partnership purposes.
	At March 31, 2015, we owned a 69 percent limited partner interest and a 2 percent general partner interest in Phillips 66 Partners, while the public owned a 29 percent limited partner interest. We consolidate Phillips 66 Partners because we control the partnership through our general partner interest (see Note 2—Variable Interest Entities (VIEs), for additional information). The public’s ownership interest in Phillip’s 66 Partners was $801 million at March 31, 2015, and is reflected as a noncontrolling interest in our financial statements. The most significant assets of Phillips 66 Partners that are available to settle only its obligations were equity investments of $801 million and net PP&E of $465 million at March 31, 2015.

New_Accounting_Standards

New Accounting Standards	3 Months Ended
	Mar. 31, 2015
New Accounting Standards [Abstract]
New Accounting Standards	New Accounting Standards
	In April 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2015-03, “Interest - Imputation of Interest (Subtopic 835-30) - Simplifying the Presentation of Debt Issuance Costs.” This ASU requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. ASU 2015-03 is effective for annual and quarterly reporting periods of public entities beginning after December 15, 2015, applied on a retrospective basis. Early adoption is permitted for financial statements that have not been previously issued. We currently have debt issuance costs included as deferred charges in our balance sheet, which will be reclassified as a reduction of debt when we adopt ASU 2015-03.
	In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606).” The new standard converged guidance on recognizing revenues in contracts with customers under accounting principles generally accepted in the United States and International Financial Reporting Standards. This ASU is intended to improve comparability of revenue recognition practices across entities, industries, jurisdictions and capital markets. ASU 2014-09 is effective for annual and quarterly reporting periods of public entities beginning after December 15, 2016. Early application for public entities is not permitted. In April 2015, the FASB issued for comment an exposure draft, “Revenue Recognition - Deferral of the Effective Date of ASU 2014-09,” which will delay implementation for one year. We are currently evaluating the provisions of ASU 2014-09 and assessing the impact, if any, it may have on our financial position and results of operations.

Condensed_Consolidating_Financ

Condensed Consolidating Financial Information	3 Months Ended
	Mar. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Financial Information	$7.5 billion of our senior notes were issued by Phillips 66, and are guaranteed by Phillips 66 Company, a 100-percent-owned subsidiary. Phillips 66 Company has fully and unconditionally guaranteed the payment obligations of Phillips 66 with respect to these debt securities. The following condensed consolidating financial information presents the results of operations, financial position and cash flows for:
	•	Phillips 66 and Phillips 66 Company (in each case, reflecting investments in subsidiaries utilizing the equity method of accounting).
	•	All other nonguarantor subsidiaries.
	•	The consolidating adjustments necessary to present Phillips 66’s results on a consolidated basis.
	This condensed consolidating financial information should be read in conjunction with the accompanying consolidated financial statements and notes. The 2014 quarterly condensed consolidating financial information was revised to eliminate intra-column lending transactions, to realign interest revenue from certain inter-column lending activities to the appropriate column, and to make the associated adjustments required to equity earnings and investments. These changes did not impact the total consolidated amounts.
		Millions of Dollars
		Three Months Ended March 31, 2015
	Statement of Income	Phillips 66			Phillips 66 Company		All Other Subsidiaries		Consolidating Adjustments		Total Consolidated
	Revenues and Other Income
	Sales and other operating revenues	$	—		15,587		7,191		—		22,778
	Equity in earnings of affiliates	1,052			722		49		(1,367	)	456
	Net gain on dispositions	—			(5	)	127		—		122
	Other income	—			59		11		—		70
	Intercompany revenues	—			140		2,149		(2,289	)	—
	Total Revenues and Other Income	1,052			16,503		9,527		(3,656	)	23,426
	Costs and Expenses
	Purchased crude oil and products	—			12,277		6,673		(2,255	)	16,695
	Operating expenses	4			874		230		(14	)	1,094
	Selling, general and administrative expenses	2			292		101		(1	)	394
	Depreciation and amortization	—			194		59		—		253
	Impairments	—			—		—		—		—
	Taxes other than income taxes	—			1,381		2,081		—		3,462
	Accretion on discounted liabilities	—			4		1		—		5
	Interest and debt expense	93			6		6		(19	)	86
	Foreign currency transaction losses	—			—		49		—		49
	Total Costs and Expenses	99			15,028		9,200		(2,289	)	22,038
	Income from continuing operations before income taxes	953			1,475		327		(1,367	)	1,388
	Provision (benefit) for income taxes	(34		)	423		2		—		391
	Income from Continuing Operations	987			1,052		325		(1,367	)	997
	Income from discontinued operations	—			—		—		—		—
	Net income	987			1,052		325		(1,367	)	997
	Less: net income attributable to noncontrolling interests	—			—		10		—		10
	Net Income Attributable to Phillips 66	$	987		1,052		315		(1,367	)	987
	Comprehensive Income	$	824		889		149		(1,028	)	834
		Millions of Dollars
		Three Months Ended March 31, 2014
	Statement of Income	Phillips 66			Phillips 66 Company		All Other Subsidiaries		Consolidating Adjustments		Total Consolidated
	Revenues and Other Income
	Sales and other operating revenues	$	—		27,239		13,044		—		40,283
	Equity in earnings of affiliates	922			738		178		(1,060	)	778
	Net gain on dispositions	—			—		7		—		7
	Other income	—			22		9		—		31
	Intercompany revenues	—			376		4,603		(4,979	)	—
	Total Revenues and Other Income	922			28,375		17,841		(6,039	)	41,099
	Costs and Expenses
	Purchased crude oil and products	—			24,384		14,938		(4,941	)	34,381
	Operating expenses	2			893		201		(6	)	1,090
	Selling, general and administrative expenses	3			286		138		(25	)	402
	Depreciation and amortization	—			180		54		—		234
	Impairments	—			1		—		—		1
	Taxes other than income taxes	—			1,301		2,337		—		3,638
	Accretion on discounted liabilities	—			5		1		—		6
	Interest and debt expense	66			4		5		(7	)	68
	Foreign currency transaction losses (gains)	—			—		(19	)	—		(19	)
	Total Costs and Expenses	71			27,054		17,655		(4,979	)	39,801
	Income from continuing operations before income taxes	851			1,321		186		(1,060	)	1,298
	Provision (benefit) for income taxes	(25		)	399		52		—		426
	Income from Continuing Operations	876			922		134		(1,060	)	872
	Income from discontinued operations*	696			—		10		—		706
	Net income	1,572			922		144		(1,060	)	1,578
	Less: net income attributable to noncontrolling interests	—			—		6		—		6
	Net Income Attributable to Phillips 66	$	1,572		922		138		(1,060	)	1,572
	Comprehensive Income	$	1,612		962		176		(1,132	)	1,618
	* Net of provision for income taxes on discontinued operations:	$	—		—		5		—		5
	Millions of Dollars
	31-Mar-15
Balance Sheet	Phillips 66			Phillips 66 Company		All Other Subsidiaries		Consolidating Adjustments		Total Consolidated
Assets
Cash and cash equivalents	$	—		1,686		3,704		—		5,390
Accounts and notes receivable	26			3,761		2,424		(474	)	5,737
Inventories	—			2,637		1,529		—		4,166
Prepaid expenses and other current assets	9			499		343		—		851
Total Current Assets	35			8,583		8,000		(474	)	16,144
Investments and long-term receivables	31,029			20,428		5,332		(46,260	)	10,529
Net properties, plants and equipment	—			12,369		5,549		—		17,918
Goodwill	—			3,040		234		—		3,274
Intangibles	—			694		188		—		882
Other assets	58			153		123		(4	)	330
Total Assets	$	31,122		45,267		19,426		(46,738	)	49,077
Liabilities and Equity
Accounts payable	$	—		4,659		3,508		(474	)	7,693
Short-term debt	—			20		17		(2	)	35
Accrued income and other taxes	—			612		500		—		1,112
Employee benefit obligations	—			258		25		—		283
Other accruals	143			236		362		—		741
Total Current Liabilities	143			5,785		4,412		(476	)	9,864
Long-term debt	7,456			162		1,294		2		8,914
Asset retirement obligations and accrued environmental costs	—			469		181		—		650
Deferred income taxes	—			4,289		1,198		(4	)	5,483
Employee benefit obligations	—			1,087		205		—		1,292
Other liabilities and deferred credits	1,734			2,493		2,067		(6,015	)	279
Total Liabilities	9,333			14,285		9,357		(6,493	)	26,482
Common stock	12,433			25,404		8,059		(33,463	)	12,433
Retained earnings	10,050			6,272		1,344		(7,645	)	10,021
Accumulated other comprehensive income (loss)	(694		)	(694	)	(169	)	863		(694	)
Noncontrolling interests	—			—		835		—		835
Total Liabilities and Equity	$	31,122		45,267		19,426		(46,738	)	49,077
	Millions of Dollars
	31-Dec-14
Balance Sheet	Phillips 66			Phillips 66 Company		All Other Subsidiaries		Consolidating Adjustments		Total Consolidated
Assets
Cash and cash equivalents	$	—		2,045		3,162		—		5,207
Accounts and notes receivable	14			5,069		3,274		(1,102	)	7,255
Inventories	—			2,026		1,371		—		3,397
Prepaid expenses and other current assets	9			429		399		—		837
Total Current Assets	23			9,569		8,206		(1,102	)	16,696
Investments and long-term receivables	30,141			18,896		4,631		(43,479	)	10,189
Net properties, plants and equipment	—			12,267		5,079		—		17,346
Goodwill	—			3,040		234		—		3,274
Intangibles	—			694		206		—		900
Other assets	60			159		121		(4	)	336
Total Assets	$	30,224		44,625		18,477		(44,585	)	48,741
Liabilities and Equity
Accounts payable	$	—		5,618		3,548		(1,102	)	8,064
Short-term debt	798			26		18		—		842
Accrued income and other taxes	—			356		522		—		878
Employee benefit obligations	—			409		53		—		462
Other accruals	65			242		541		—		848
Total Current Liabilities	863			6,651		4,682		(1,102	)	11,094
Long-term debt	7,457			159		226		—		7,842
Asset retirement obligations and accrued environmental costs	—			494		189		—		683
Deferred income taxes	—			4,240		1,255		(4	)	5,491
Employee benefit obligations	—			1,074		231		—		1,305
Other liabilities and deferred credits	285			1,919		2,126		(4,041	)	289
Total Liabilities	8,605			14,537		8,709		(5,147	)	26,704
Common stock	12,812			25,405		8,240		(33,645	)	12,812
Retained earnings	9,338			5,214		1,074		(6,317	)	9,309
Accumulated other comprehensive income	(531		)	(531	)	7		524		(531	)
Noncontrolling interests	—			—		447		—		447
Total Liabilities and Equity	$	30,224		44,625		18,477		(44,585	)	48,741
	Millions of Dollars
	Three Months Ended March 31, 2015
Statement of Cash Flows	Phillips 66			Phillips 66 Company		All Other Subsidiaries		Consolidating Adjustments		Total Consolidated
Cash Flows From Operating Activities
Net cash provided by continuing operating activities	$	52		60		1,298		(58	)	1,352
Net cash provided by discontinued operations	—			—		—		—		—
Net Cash Provided by Operating Activities	52			60		1,298		(58	)	1,352
Cash Flows From Investing Activities
Capital expenditures and investments*	—			(425	)	(1,490	)	834		(1,081	)
Proceeds from asset dispositions	—			881		(10	)	(880	)	(9	)
Intercompany lending activities	1,449			(833	)	(616	)	—		—
Advances/loans—related parties	—			(50	)	—		—		(50	)
Other	—			12		90		—		102
Net cash provided by (used in) continuing investing activities	1,449			(415	)	(2,026	)	(46	)	(1,038	)
Net cash used in discontinued operations	—			—		—		—		—
Net Cash Provided by (Used in) Investing Activities	1,449			(415	)	(2,026	)	(46	)	(1,038	)
Cash Flows From Financing Activities
Issuance of debt	—			—		1,169		—		1,169
Repayment of debt	(800		)	(4	)	(91	)	—		(895	)
Issuance of common stock	(25		)	—		—		—		(25	)
Repurchase of common stock	(399		)	—		—		—		(399	)
Dividends paid on common stock	(272		)	—		(39	)	39		(272	)
Distributions to controlling interests	—			—		(165	)	165		—
Distributions to noncontrolling interests	—			—		(6	)	—		(6	)
Net proceeds from issuance of Phillips 66 Partners LP common units	—			—		384		—		384
Other*	(5		)	—		91		(100	)	(14	)
Net cash provided by (used in) continuing financing activities	(1,501		)	(4	)	1,343		104		(58	)
Net cash provided by (used in) discontinued operations	—			—		—		—		—
Net Cash Provided by (Used in) Financing Activities	(1,501		)	(4	)	1,343		104		(58	)
Effect of Exchange Rate Changes on Cash and Cash Equivalents	—			—		(73	)	—		(73	)
Net Change in Cash and Cash Equivalents	—			(359	)	542		—		183
Cash and cash equivalents at beginning of period	—			2,045		3,162		—		5,207
Cash and Cash Equivalents at End of Period	$	—		1,686		3,704		—		5,390
* Includes intercompany capital contributions.
	Millions of Dollars
	Three Months Ended March 31, 2014
Statement of Cash Flows	Phillips 66			Phillips 66 Company		All Other Subsidiaries		Consolidating Adjustments		Total Consolidated
Cash Flows From Operating Activities
Net cash provided by continuing operating activities	$	52		10		1,439		(105	)	1,396
Net cash provided by discontinued operations	—			—		2		—		2
Net Cash Provided by Operating Activities	52			10		1,441		(105	)	1,398
Cash Flows From Investing Activities
Capital expenditures and investments*	—			(840	)	(450	)	718		(572	)
Proceeds from asset dispositions	—			871		36		(400	)	507
Intercompany lending activities	1,291			(66	)	(1,225	)	—		—
Other	—			(38	)	51		—		13
Net cash provided by (used in) continuing investing activities	1,291			(73	)	(1,588	)	318		(52	)
Net cash used in discontinued operations	—			—		(34	)	—		(34	)
Net Cash Provided by (Used in) Investing Activities	1,291			(73	)	(1,622	)	318		(86	)
Cash Flows From Financing Activities
Repayment of debt	—			(3	)	(5	)	—		(8	)
Issuance of common stock	(20		)	—		—		—		(20	)
Repurchase of common stock	(640		)	—		—		—		(640	)
Share exchange—PSPI transaction	(450		)	—		—		—		(450	)
Dividends paid on common stock	(229		)	—		(93	)	93		(229	)
Distributions to controlling interests	—			—		(274	)	274		—
Distributions to noncontrolling interests	—			—		(4	)	—		(4	)
Other*	(4		)	—		580		(580	)	(4	)
Net cash provided by (used in) continuing financing activities	(1,343		)	(3	)	204		(213	)	(1,355	)
Net cash provided by (used in) discontinued operations	—			—		—		—		—
Net Cash Provided by (Used in) Financing Activities	(1,343		)	(3	)	204		(213	)	(1,355	)
Effect of Exchange Rate Changes on Cash and Cash Equivalents	—			—		(31	)	—		(31	)
Net Change in Cash and Cash Equivalents	—			(66	)	(8	)	—		(74	)
Cash and cash equivalents at beginning of period	—			2,162		3,238		—		5,400
Cash and Cash Equivalents at End of Period	$	—		2,096		3,230		—		5,326
* Includes intercompany capital contributions.

Interim_Financial_Information_

Interim Financial Information Interim Financial Information (Policies)	3 Months Ended
	Mar. 31, 2015
Interim Financial Information [Abstract]
Earnings Per Share	The numerator of basic earnings per share (EPS) is net income attributable to Phillips 66, reduced by noncancelable dividends paid on unvested share-based employee awards during the vesting period (participating securities). 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 attributable to Phillips 66, which is reduced only by dividend equivalents paid on participating securities for which the dividends are more dilutive than the participation of the awards in the earnings of the periods presented. 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.
Commitments and Contingencies	In the case of all known contingencies (other than those related to income taxes), we accrue a liability when the loss is probable and the amount is reasonably estimable. If a range of amounts can be reasonably estimated and no amount within the range is a better estimate than any other amount, then the minimum of the range is accrued. We do not reduce these liabilities for potential insurance or third-party recoveries. If applicable, we record receivables for probable insurance or other third-party recoveries. In the case of income-tax-related contingencies, we use a cumulative probability-weighted loss accrual in cases where sustaining a tax position is less than certain.

Inventories_Tables

Inventories (Tables)	3 Months Ended
	Mar. 31, 2015
Inventory Disclosure [Abstract]
Summary of Inventories	Inventories consisted of the following:
		Millions of Dollars
		March 31		December 31
		2015		2014
	Crude oil and petroleum products	$	3,911	3,141
	Materials and supplies	255		256
		$	4,166	3,397

Investments_Loans_and_LongTerm1

Investments, Loans and Long-Term Receivables (Tables)	3 Months Ended
	Mar. 31, 2015
Equity Method Investments and Joint Ventures [Abstract]
Summary of Financial Information	Summarized 100 percent financial information for WRB Refining LP (WRB) and Chevron Phillips Chemical Company LLC (CPChem) were as follows:
		Millions of Dollars
		Three Months Ended
		31-Mar
		2015		2014
	Revenues	$	4,906	7,998
	Income before income taxes	692		1,124
	Net income	672		1,101

Properties_Plants_and_Equipmen1

Properties, Plants and Equipment (Tables)	3 Months Ended
	Mar. 31, 2015
Property, Plant and Equipment [Abstract]
Properties, Plants and Equipment with Associated Accumulated Depreciation and Amortization	Our investment in PP&E, with the associated accumulated depreciation and amortization (Accum. D&A), was:
		Millions of Dollars
		31-Mar-15				31-Dec-14
		Gross		Accum.	Net	Gross	Accum.	Net
		PP&E		D&A	PP&E	PP&E	D&A	PP&E
	Midstream	$	5,337	1,209	4,128	4,726	1,185	3,541
	Chemicals	—		—	—	—	—	—
	Refining	20,126		7,558	12,568	19,951	7,424	12,527
	Marketing and Specialties	1,410		702	708	1,490	738	752
	Corporate and Other	983		469	514	978	452	526
		$	27,856	9,938	17,918	27,145	9,799	17,346

Earnings_per_Share_Tables

Earnings per Share (Tables)	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Reconciliation of Basic and Diluted Earnings Per Share
		Three Months Ended
		31-Mar
		2015					2014
		Basic			Diluted		Basic		Diluted
	Amounts attributed to Phillips 66 Common Stockholders (millions):
	Income from continuing operations attributable to Phillips 66	$	987		987		866		866
	Income allocated to participating securities	(2		)	(1	)	(1	)	—
	Income from continuing operations available to common stockholders	985			986		865		866
	Discontinued operations	—			—		706		706
	Net Income available to common stockholders	$	985		986		1,571		1,572
	Weighted-average common shares outstanding (thousands):	543,469			548,200		580,027		584,053
	Effect of stock-based compensation	4,731			4,137		4,026		5,522
	Weighted-average common shares outstanding—EPS	548,200			552,337		584,053		589,575
	Earnings Per Share of Common Stock (dollars):
	Income from continuing operations attributable to Phillips 66	$	1.8		1.79		1.48		1.47
	Discontinued operations	—			—		1.21		1.2
	Earnings Per Share	$	1.8		1.79		2.69		2.67

Derivatives_and_Financial_Inst1

Derivatives and Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Fair Value of Commodity Derivative Assets and Liabilities and Gains (Losses) from Derivative Contracts	The following table indicates the balance sheet line items that include the fair values of commodity derivative assets and liabilities presented net (i.e., commodity derivative assets and liabilities with the same counterparty are netted where the right of setoff exists); however, the balances in the following table are presented gross. For information on the impact of counterparty netting and collateral netting, see Note 13—Fair Value Measurements.
		Millions of Dollars
		March 31				December 31
		2015				2014
	Assets
	Accounts and notes receivable	$	—			(1	)
	Prepaid expenses and other current assets	1,989				3,839
	Other assets	36				29
	Liabilities
	Other accruals	1,776				3,472
	Other liabilities and deferred credits	11				1
	Hedge accounting has not been used for any item in the table.
	The gains (losses) incurred from commodity derivatives, and the line items where they appear on our consolidated statement of income, were:
		Millions of Dollars
		Three Months Ended
		31-Mar
		2015				2014
	Sales and other operating revenues	$	(31	)		57
	Other income	43				14
	Purchased crude oil and products	20				2
	Hedge accounting has not been used for any item in the table.
Summary of Material Net Exposures and Notional Amount of Derivative Contracts
		Open Position
		Long/(Short)
		March 31			December 31
		2015			2014
	Commodity
	Crude oil, refined products and NGL (millions of barrels)	(23	)		(11	)

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value Hierarchy for Material Financial Instruments and Derivative Assets and Liabilities, Including the Effect of Counterparty Netting	The carrying values and fair values by hierarchy of our material financial instruments and commodity forward contracts, either carried or disclosed at fair value, including any effects of netting derivative assets with liabilities and netting collateral due to right of setoff or master netting agreements, were:
		Millions of Dollars
		31-Mar-15
		Fair Value Hierarchy				Total Fair Value of Gross Assets & Liabilities	Effect of Counterparty Netting		Effect of Collateral Netting		Difference in Carrying Value and Fair Value		Net Carrying Value Presented on the Balance Sheet	Cash Collateral Received or Paid, Not Offset on Balance Sheet
		Level 1		Level 2	Level 3
	Commodity Derivative Assets
	Exchange-cleared instruments	$	1,146	796	—	1,942	(1,734	)	(101	)	—		107	—
	OTC instruments	—		10	—	10	(6	)	—		—		4	—
	Physical forward contracts*	—		72	1	73	—		—		—		73	—
	Rabbi trust assets	83		—	—	83	N/A		N/A		—		83	N/A
		$	1,229	878	1	2,108	(1,740	)	(101	)	—		267
	Commodity Derivative Liabilities
	Exchange-cleared instruments	$	1,159	575	—	1,734	(1,734	)	—		—		—	—
	OTC instruments	—		12	—	12	(6	)	—		—		6	—
	Physical forward contracts*	—		41	—	41	—		—		—		41	—
	Floating-rate debt	50		—	—	50	N/A		N/A		—		50	N/A
	Fixed-rate debt, excluding capital leases**	—		9,410	—	9,410	N/A		N/A		(711	)	8,699	N/A
		$	1,209	10,038	—	11,247	(1,740	)	—		(711	)	8,796
	* Physical forward contracts may have a larger value on the balance sheet than disclosed in the fair value hierarchy when the remaining contract term at the reporting date is greater than 12 months and the short-term portion is an asset while the long-term portion is a liability, or vice versa.
	** We carry fixed-rate debt on the balance sheet at amortized cost.
		Millions of Dollars
		31-Dec-14
		Fair Value Hierarchy				Total Fair Value of Gross Assets & Liabilities	Effect of Counterparty Netting		Effect of Collateral Netting		Difference in Carrying Value and Fair Value		Net Carrying Value Presented on the Balance Sheet	Cash Collateral Received or Paid, Not Offset on Balance Sheet
		Level 1		Level 2	Level 3
	Commodity Derivative Assets
	Exchange-cleared instruments	$	2,058	1,525	—	3,583	(3,255	)	(225	)	—		103	—
	OTC instruments	—		24	—	24	(14	)	—		—		10	—
	Physical forward contracts*	—		253	7	260	(38	)	—		—		222	—
	Rabbi trust assets	76		—	—	76	N/A		N/A		—		76	N/A
		$	2,134	1,802	7	3,943	(3,307	)	(225	)	—		411
	Commodity Derivative Liabilities
	Exchange-cleared instruments	$	1,833	1,422	—	3,255	(3,255	)	—		—		—	—
	OTC instruments	—		29	—	29	(14	)	—		—		15	—
	Physical forward contracts*	—		189	—	189	(38	)	—		—		151	—
	Floating-rate debt	68		—	—	68	N/A		N/A		—		68	N/A
	Fixed-rate debt, excluding capital leases**	—		8,806	—	8,806	N/A		N/A		(400	)	8,406	N/A
		$	1,901	10,446	—	12,347	(3,307	)	—		(400	)	8,640
	* Physical forward contracts may have a larger value on the balance sheet than disclosed in the fair value hierarchy when the remaining contract term at the reporting date is greater than 12 months and the short-term portion is an asset while the long-term portion is a liability, or vice versa.
	** We carry fixed-rate debt on the balance sheet at amortized cost.

Employee_Benefit_Plans_Tables

Employee Benefit Plans (Tables)	3 Months Ended
	Mar. 31, 2015
Compensation and Retirement Disclosure [Abstract]
Components of Net Periodic Benefit Cost	The components of net periodic benefit cost for the three months ended March 31, 2015 and 2014, were as follows:
		Millions of Dollars
		Pension Benefits									Other Benefits
		2015					2014				2015	2014
		U.S.			Int’l.		U.S.		Int’l.
	Components of Net Periodic Benefit Cost
	Three Months Ended March 31
	Service cost	$	31		10		30		10		2	2
	Interest cost	27			7		27		9		2	2
	Expected return on plan assets	(35		)	(10	)	(36	)	(9	)	—	—
	Amortization of prior service cost (credit)	1			—		1		(1	)	—	—
	Recognized net actuarial loss (gain)	19			4		10		3		—	(1	)
	Settlements	1			—		—		—		—	—
	Net periodic benefit cost	$	44		11		32		12		4	3

Accumulated_Other_Comprehensiv1

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2015
Equity [Abstract]
Summary of Changes in and Reclassifications Out of Accumulated Other Comprehensive Income (Loss) by Component	The following table depicts changes in accumulated other comprehensive income (loss) by component, as well as detail on reclassifications out of accumulated other comprehensive income (loss):
		Millions of Dollars
		Defined Benefit Plans			Foreign Currency Translation		Hedging		Accumulated Other Comprehensive Income (Loss)
	31-Dec-13	$	(404	)	443		(2	)	37
	Other comprehensive income before reclassifications	2			30		—		32
	Amounts reclassified from accumulated other comprehensive income (loss)*
	Amortization of defined benefit plan items**
	Actuarial losses	8			—		—		8
	Net current period other comprehensive income	10			30		—		40
	31-Mar-14	$	(394	)	473		(2	)	77
	31-Dec-14	$	(696	)	167		(2	)	(531	)
	Other comprehensive income (loss) before reclassifications	3			(188	)	—		(185	)
	Amounts reclassified from accumulated other comprehensive income (loss)*
	Amortization of defined benefit plan items**
	Actuarial losses and settlements	22			—		—		22
	Net current period other comprehensive income (loss)	25			(188	)	—		(163	)
	31-Mar-15	$	(671	)	(21	)	(2	)	(694	)
	* There were no significant reclassifications related to foreign currency translation or hedging.
	** These accumulated other comprehensive income (loss) components are included in the computation of net periodic benefit cost (see Note 14—Employee Benefit Plans, for additional information).

Related_Party_Transactions_Tab

Related Party Transactions (Tables)	3 Months Ended
	Mar. 31, 2015
Related Party Transactions [Abstract]
Significant Transactions with Related Parties	Significant transactions with related parties were:
		Millions of Dollars
		Three Months Ended
		31-Mar
		2015		2014
	Operating revenues and other income (a)	$	617	2,067
	Purchases (b)	1,948		3,991
	Operating expenses and selling, general and administrative expenses (c)	31		35
	Interest expense (d)	2		2
	In December 2014, we completed the sale of our interest in the Malaysian Refining Company Sdn. Bdh. (MRC). Accordingly, sales of crude oil to MRC and purchases of refined products from MRC are only included in the 2014 period in the table above.
	(a)	NGL and other petrochemical feedstocks, along with solvents, were sold to CPChem, and gas oil and hydrogen feedstocks were sold to Excel. Certain feedstocks and intermediate products were sold to WRB. We also acted as agent for WRB in supplying crude oil and other feedstocks, wherein the transactional amounts did not impact operating revenues. In addition, we charged several of our affiliates, including CPChem and MSLP, for the use of common facilities, such as steam generators, waste and water treaters, and warehouse facilities.
	(b)	We purchased refined products from WRB. We also acted as agent for WRB in distributing asphalt and solvents, wherein the transactional amounts did not impact purchases. We purchased natural gas and NGL from DCP Midstream, LLC (DCP Midstream) and CPChem for use in our refinery processes and other feedstocks from various affiliates. We also paid fees to various pipeline equity companies for transporting finished refined products. In addition, we paid a price upgrade to MSLP for heavy crude processing. We purchased base oils and fuel products from Excel for use in our refining and specialty businesses.
	(c)	We paid utility and processing fees to various affiliates.
	(d)	We incurred interest expense on a note payable to MSLP.

Segment_Disclosures_and_Relate1

Segment Disclosures and Related Information (Tables)	3 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
Analysis of Results by Operating Segment
		Millions of Dollars
		Three Months Ended
		31-Mar
		2015			2014
	Sales and Other Operating Revenues
	Midstream
	Total sales	$	969		2,155
	Intersegment eliminations	(254		)	(292	)
	Total Midstream	715			1,863
	Chemicals	2			2
	Refining
	Total sales	14,271			29,215
	Intersegment eliminations	(8,756		)	(17,558	)
	Total Refining	5,515			11,657
	Marketing and Specialties
	Total sales	16,748			27,046
	Intersegment eliminations	(211		)	(292	)
	Total Marketing and Specialties	16,537			26,754
	Corporate and Other	9			7
	Consolidated sales and other operating revenues	$	22,778		40,283
	Net Income (Loss) Attributable to Phillips 66
	Midstream	$	67		188
	Chemicals	203			316
	Refining	538			306
	Marketing and Specialties	304			137
	Corporate and Other	(125		)	(81	)
	Discontinued operations	—			706
	Consolidated net income attributable to Phillips 66	$	987		1,572
		Millions of Dollars
		March 31				December 31
		2015				2014
	Total Assets
	Midstream	$	7,847			7,295
	Chemicals	5,469				5,209
	Refining	23,040				22,808
	Marketing and Specialties	6,461				7,051
	Corporate and Other	6,260				6,378
	Consolidated total assets	$	49,077			48,741

Condensed_Consolidating_Financ1

Condensed Consolidating Financial Information (Tables)	3 Months Ended
	Mar. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Statement of Income
		Millions of Dollars
		Three Months Ended March 31, 2015
	Statement of Income	Phillips 66			Phillips 66 Company		All Other Subsidiaries		Consolidating Adjustments		Total Consolidated
	Revenues and Other Income
	Sales and other operating revenues	$	—		15,587		7,191		—		22,778
	Equity in earnings of affiliates	1,052			722		49		(1,367	)	456
	Net gain on dispositions	—			(5	)	127		—		122
	Other income	—			59		11		—		70
	Intercompany revenues	—			140		2,149		(2,289	)	—
	Total Revenues and Other Income	1,052			16,503		9,527		(3,656	)	23,426
	Costs and Expenses
	Purchased crude oil and products	—			12,277		6,673		(2,255	)	16,695
	Operating expenses	4			874		230		(14	)	1,094
	Selling, general and administrative expenses	2			292		101		(1	)	394
	Depreciation and amortization	—			194		59		—		253
	Impairments	—			—		—		—		—
	Taxes other than income taxes	—			1,381		2,081		—		3,462
	Accretion on discounted liabilities	—			4		1		—		5
	Interest and debt expense	93			6		6		(19	)	86
	Foreign currency transaction losses	—			—		49		—		49
	Total Costs and Expenses	99			15,028		9,200		(2,289	)	22,038
	Income from continuing operations before income taxes	953			1,475		327		(1,367	)	1,388
	Provision (benefit) for income taxes	(34		)	423		2		—		391
	Income from Continuing Operations	987			1,052		325		(1,367	)	997
	Income from discontinued operations	—			—		—		—		—
	Net income	987			1,052		325		(1,367	)	997
	Less: net income attributable to noncontrolling interests	—			—		10		—		10
	Net Income Attributable to Phillips 66	$	987		1,052		315		(1,367	)	987
	Comprehensive Income	$	824		889		149		(1,028	)	834
		Millions of Dollars
		Three Months Ended March 31, 2014
	Statement of Income	Phillips 66			Phillips 66 Company		All Other Subsidiaries		Consolidating Adjustments		Total Consolidated
	Revenues and Other Income
	Sales and other operating revenues	$	—		27,239		13,044		—		40,283
	Equity in earnings of affiliates	922			738		178		(1,060	)	778
	Net gain on dispositions	—			—		7		—		7
	Other income	—			22		9		—		31
	Intercompany revenues	—			376		4,603		(4,979	)	—
	Total Revenues and Other Income	922			28,375		17,841		(6,039	)	41,099
	Costs and Expenses
	Purchased crude oil and products	—			24,384		14,938		(4,941	)	34,381
	Operating expenses	2			893		201		(6	)	1,090
	Selling, general and administrative expenses	3			286		138		(25	)	402
	Depreciation and amortization	—			180		54		—		234
	Impairments	—			1		—		—		1
	Taxes other than income taxes	—			1,301		2,337		—		3,638
	Accretion on discounted liabilities	—			5		1		—		6
	Interest and debt expense	66			4		5		(7	)	68
	Foreign currency transaction losses (gains)	—			—		(19	)	—		(19	)
	Total Costs and Expenses	71			27,054		17,655		(4,979	)	39,801
	Income from continuing operations before income taxes	851			1,321		186		(1,060	)	1,298
	Provision (benefit) for income taxes	(25		)	399		52		—		426
	Income from Continuing Operations	876			922		134		(1,060	)	872
	Income from discontinued operations*	696			—		10		—		706
	Net income	1,572			922		144		(1,060	)	1,578
	Less: net income attributable to noncontrolling interests	—			—		6		—		6
	Net Income Attributable to Phillips 66	$	1,572		922		138		(1,060	)	1,572
	Comprehensive Income	$	1,612		962		176		(1,132	)	1,618
	* Net of provision for income taxes on discontinued operations:	$	—		—		5		—		5
Condensed Consolidating Balance Sheet
		Millions of Dollars
		31-Mar-15
	Balance Sheet	Phillips 66			Phillips 66 Company		All Other Subsidiaries		Consolidating Adjustments		Total Consolidated
	Assets
	Cash and cash equivalents	$	—		1,686		3,704		—		5,390
	Accounts and notes receivable	26			3,761		2,424		(474	)	5,737
	Inventories	—			2,637		1,529		—		4,166
	Prepaid expenses and other current assets	9			499		343		—		851
	Total Current Assets	35			8,583		8,000		(474	)	16,144
	Investments and long-term receivables	31,029			20,428		5,332		(46,260	)	10,529
	Net properties, plants and equipment	—			12,369		5,549		—		17,918
	Goodwill	—			3,040		234		—		3,274
	Intangibles	—			694		188		—		882
	Other assets	58			153		123		(4	)	330
	Total Assets	$	31,122		45,267		19,426		(46,738	)	49,077
	Liabilities and Equity
	Accounts payable	$	—		4,659		3,508		(474	)	7,693
	Short-term debt	—			20		17		(2	)	35
	Accrued income and other taxes	—			612		500		—		1,112
	Employee benefit obligations	—			258		25		—		283
	Other accruals	143			236		362		—		741
	Total Current Liabilities	143			5,785		4,412		(476	)	9,864
	Long-term debt	7,456			162		1,294		2		8,914
	Asset retirement obligations and accrued environmental costs	—			469		181		—		650
	Deferred income taxes	—			4,289		1,198		(4	)	5,483
	Employee benefit obligations	—			1,087		205		—		1,292
	Other liabilities and deferred credits	1,734			2,493		2,067		(6,015	)	279
	Total Liabilities	9,333			14,285		9,357		(6,493	)	26,482
	Common stock	12,433			25,404		8,059		(33,463	)	12,433
	Retained earnings	10,050			6,272		1,344		(7,645	)	10,021
	Accumulated other comprehensive income (loss)	(694		)	(694	)	(169	)	863		(694	)
	Noncontrolling interests	—			—		835		—		835
	Total Liabilities and Equity	$	31,122		45,267		19,426		(46,738	)	49,077
		Millions of Dollars
		31-Dec-14
	Balance Sheet	Phillips 66			Phillips 66 Company		All Other Subsidiaries		Consolidating Adjustments		Total Consolidated
	Assets
	Cash and cash equivalents	$	—		2,045		3,162		—		5,207
	Accounts and notes receivable	14			5,069		3,274		(1,102	)	7,255
	Inventories	—			2,026		1,371		—		3,397
	Prepaid expenses and other current assets	9			429		399		—		837
	Total Current Assets	23			9,569		8,206		(1,102	)	16,696
	Investments and long-term receivables	30,141			18,896		4,631		(43,479	)	10,189
	Net properties, plants and equipment	—			12,267		5,079		—		17,346
	Goodwill	—			3,040		234		—		3,274
	Intangibles	—			694		206		—		900
	Other assets	60			159		121		(4	)	336
	Total Assets	$	30,224		44,625		18,477		(44,585	)	48,741
	Liabilities and Equity
	Accounts payable	$	—		5,618		3,548		(1,102	)	8,064
	Short-term debt	798			26		18		—		842
	Accrued income and other taxes	—			356		522		—		878
	Employee benefit obligations	—			409		53		—		462
	Other accruals	65			242		541		—		848
	Total Current Liabilities	863			6,651		4,682		(1,102	)	11,094
	Long-term debt	7,457			159		226		—		7,842
	Asset retirement obligations and accrued environmental costs	—			494		189		—		683
	Deferred income taxes	—			4,240		1,255		(4	)	5,491
	Employee benefit obligations	—			1,074		231		—		1,305
	Other liabilities and deferred credits	285			1,919		2,126		(4,041	)	289
	Total Liabilities	8,605			14,537		8,709		(5,147	)	26,704
	Common stock	12,812			25,405		8,240		(33,645	)	12,812
	Retained earnings	9,338			5,214		1,074		(6,317	)	9,309
Accumulated other comprehensive income	(531		)	(531	)	7		524		(531	)
Noncontrolling interests	—			—		447		—		447
Total Liabilities and Equity	$	30,224		44,625		18,477		(44,585	)	48,741
Condensed Consolidating Statement of Cash Flows
		Millions of Dollars
		Three Months Ended March 31, 2015
	Statement of Cash Flows	Phillips 66			Phillips 66 Company		All Other Subsidiaries		Consolidating Adjustments		Total Consolidated
	Cash Flows From Operating Activities
	Net cash provided by continuing operating activities	$	52		60		1,298		(58	)	1,352
	Net cash provided by discontinued operations	—			—		—		—		—
	Net Cash Provided by Operating Activities	52			60		1,298		(58	)	1,352
	Cash Flows From Investing Activities
	Capital expenditures and investments*	—			(425	)	(1,490	)	834		(1,081	)
	Proceeds from asset dispositions	—			881		(10	)	(880	)	(9	)
	Intercompany lending activities	1,449			(833	)	(616	)	—		—
	Advances/loans—related parties	—			(50	)	—		—		(50	)
	Other	—			12		90		—		102
	Net cash provided by (used in) continuing investing activities	1,449			(415	)	(2,026	)	(46	)	(1,038	)
	Net cash used in discontinued operations	—			—		—		—		—
	Net Cash Provided by (Used in) Investing Activities	1,449			(415	)	(2,026	)	(46	)	(1,038	)
	Cash Flows From Financing Activities
	Issuance of debt	—			—		1,169		—		1,169
	Repayment of debt	(800		)	(4	)	(91	)	—		(895	)
	Issuance of common stock	(25		)	—		—		—		(25	)
	Repurchase of common stock	(399		)	—		—		—		(399	)
	Dividends paid on common stock	(272		)	—		(39	)	39		(272	)
	Distributions to controlling interests	—			—		(165	)	165		—
	Distributions to noncontrolling interests	—			—		(6	)	—		(6	)
	Net proceeds from issuance of Phillips 66 Partners LP common units	—			—		384		—		384
	Other*	(5		)	—		91		(100	)	(14	)
	Net cash provided by (used in) continuing financing activities	(1,501		)	(4	)	1,343		104		(58	)
	Net cash provided by (used in) discontinued operations	—			—		—		—		—
	Net Cash Provided by (Used in) Financing Activities	(1,501		)	(4	)	1,343		104		(58	)
	Effect of Exchange Rate Changes on Cash and Cash Equivalents	—			—		(73	)	—		(73	)
	Net Change in Cash and Cash Equivalents	—			(359	)	542		—		183
	Cash and cash equivalents at beginning of period	—			2,045		3,162		—		5,207
	Cash and Cash Equivalents at End of Period	$	—		1,686		3,704		—		5,390
	* Includes intercompany capital contributions.
		Millions of Dollars
		Three Months Ended March 31, 2014
	Statement of Cash Flows	Phillips 66			Phillips 66 Company		All Other Subsidiaries		Consolidating Adjustments		Total Consolidated
	Cash Flows From Operating Activities
	Net cash provided by continuing operating activities	$	52		10		1,439		(105	)	1,396
	Net cash provided by discontinued operations	—			—		2		—		2
	Net Cash Provided by Operating Activities	52			10		1,441		(105	)	1,398
	Cash Flows From Investing Activities
	Capital expenditures and investments*	—			(840	)	(450	)	718		(572	)
	Proceeds from asset dispositions	—			871		36		(400	)	507
	Intercompany lending activities	1,291			(66	)	(1,225	)	—		—
	Other	—			(38	)	51		—		13
	Net cash provided by (used in) continuing investing activities	1,291			(73	)	(1,588	)	318		(52	)
	Net cash used in discontinued operations	—			—		(34	)	—		(34	)
	Net Cash Provided by (Used in) Investing Activities	1,291			(73	)	(1,622	)	318		(86	)
	Cash Flows From Financing Activities
	Repayment of debt	—			(3	)	(5	)	—		(8	)
	Issuance of common stock	(20		)	—		—		—		(20	)
	Repurchase of common stock	(640		)	—		—		—		(640	)
	Share exchange—PSPI transaction	(450		)	—		—		—		(450	)
	Dividends paid on common stock	(229		)	—		(93	)	93		(229	)
	Distributions to controlling interests	—			—		(274	)	274		—
	Distributions to noncontrolling interests	—			—		(4	)	—		(4	)
	Other*	(4		)	—		580		(580	)	(4	)
	Net cash provided by (used in) continuing financing activities	(1,343		)	(3	)	204		(213	)	(1,355	)
	Net cash provided by (used in) discontinued operations	—			—		—		—		—
	Net Cash Provided by (Used in) Financing Activities	(1,343		)	(3	)	204		(213	)	(1,355	)
	Effect of Exchange Rate Changes on Cash and Cash Equivalents	—			—		(31	)	—		(31	)
	Net Change in Cash and Cash Equivalents	—			(66	)	(8	)	—		(74	)
Cash and cash equivalents at beginning of period	—			2,162		3,238		—		5,400
Cash and Cash Equivalents at End of Period	$	—		2,096		3,230		—		5,326
* Includes intercompany capital contributions.

Variable_Interest_Entities_VIE1

Variable Interest Entities (VIEs) (Narrative) (Details) (USD $)	12 Months Ended	3 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2012	Mar. 31, 2015	Aug. 31, 2009	Aug. 28, 2009	Aug. 27, 2009	Jul. 31, 1999
Variable interest entities VIEs (Textual) [Abstract]
Purchase Commitment, Annual Obligation		$90
Merey Sweeny [Member]
Variable interest entities VIEs (Textual) [Abstract]
Additional ownership interest acquired in MSLP that is in dispute			50.00%	50.00%
Book value of investment		135
Merey Sweeny [Member] | Conocophillips [Member]
Variable interest entities VIEs (Textual) [Abstract]
Percentage of ownership interest in Excel					50.00%
Merey Sweeny [Member] | MSLP 8.85% Senior Notes [Member] | Guarantees of Joint Venture Debt [Member]
Variable interest entities VIEs (Textual) [Abstract]
Debt guarantee to lender of 8.85% senior notes issued by MSLP, percentage	100.00%
Stated interest rate of debt issued, percentage	8.85%					8.85%
Maximum exposure under debt guarantee		189
Percentage of guarantee	100.00%
Excel Paralubes [Member]
Variable interest entities VIEs (Textual) [Abstract]
Book value of investment		143
Percentage of ownership interest in Excel		50.00%
Percentage of governance interest in Excel		50.00%
Liquidity support guarantee of VIE shared with CoVenturer	60	60
Liquidity support guarantee of Excel		30
Excel Paralubes [Member] | Excel 7.43% Senior Secured Bonds [Member]
Variable interest entities VIEs (Textual) [Abstract]
Outstanding principal debt balance of Excel		58
Excel Paralubes [Member] | Excel 7.43% Senior Secured Bonds [Member] | Guarantees of Joint Venture Debt [Member]
Variable interest entities VIEs (Textual) [Abstract]
Stated interest rate of debt issued, percentage	7.43%
Maximum exposure under debt guarantee		$29
Percentage of guarantee		50.00%
Excel Paralubes [Member] | Excel 7.43% Senior Secured Bonds [Member] | Conocophillips [Member] | Guarantees of Joint Venture Debt [Member]
Variable interest entities VIEs (Textual) [Abstract]
Percentage of guarantee	50.00%

Inventories_Summary_of_Invento

Inventories (Summary of Inventory) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Millions, unless otherwise specified
Summary of inventories
Crude oil and petroleum products	$3,911	$3,141
Materials and supplies	255	256
Inventories	$4,166	$3,397

Inventories_Narrative_Details

Inventories (Narrative) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Inventory Disclosure [Abstract]
Inventories valued on the last-in, first out (LIFO) basis	$3,798	$3,004
Estimated excess of current replacement cost over LIFO cost of inventories	3,200	3,000
Effect on net income due to LIFO inventory liquidation	$36

Business_Combinations_Narrativ

Business Combinations (Narrative) (Details) (USD $)	1 Months Ended	12 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2014	Aug. 31, 2014
			bbl
Business Acquisition [Line Items]
Number of refineries	1
PP&E provisionally recorded		$471
Goodwill provisionally recorded		232
Intangible assets provisionally recorded		196
Net working capital provisionally recorded		70
Assumed long-term liabilities provisionally recorded		109
Midstream Segment [Member] | Beaumont, Texas,Crude Oil And Petroleum Products Terminal, 7.1 Million-Barrel-Storage-Capacity [Member]
Business Acquisition [Line Items]
Storage capacity, barrels			7,100,000
CapitalExpendituresAndInvestments [Member]
Business Acquisition [Line Items]
Consideration paid, net of cash acquired		$741

Assets_Held_for_Sale_or_Sold_N

Assets Held for Sale or Sold (Narrative) (Details) (USD $)	3 Months Ended		1 Months Ended
In Millions, except Share data in Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Feb. 28, 2014	Jul. 31, 2014	Dec. 31, 2014	Feb. 28, 2015
Assets Held for Sale or Sold (Narrative) [Abstract]
Shares of Phillips 66 common stock received in exchange	5,643
PSPI's cash included in net carrying value		$450
Deferred gain recognized	122	7
Phillips Specialty Products Inc [Member] | Marketing and Specialties [Member]
Assets Held for Sale or Sold (Narrative) [Abstract]
Net PP&E included in net carrying value			60
Shares of Phillips 66 common stock received in exchange			17,400
PSPI before-tax gain		696	696
Net carrying value			685
Cash and cash equivalents included in carrying value			481
Allocated goodwill included in net carrying value			117
Immingham Combined Heat and Power Plant [Member] | Marketing and Specialties [Member]
Assets Held for Sale or Sold (Narrative) [Abstract]
Deferred gain recognized	110
Deferred gain	132				243
IRELAND | Bantry Bay Terminal [Member] | Refining [Member]
Assets Held for Sale or Sold (Narrative) [Abstract]
Held for sale impairment, before tax				12
Net PP&E included in net carrying value						68
Prepaid Expenses and Other Current Assets [Member] | IRELAND | Bantry Bay Terminal [Member] | Refining [Member]
Assets Held for Sale or Sold (Narrative) [Abstract]
Net carrying value at time of disposition					77
Share Exchange—PSPI Transaction [Member] | Phillips Specialty Products Inc [Member] | Marketing and Specialties [Member]
Assets Held for Sale or Sold (Narrative) [Abstract]
PSPI's cash included in net carrying value			$450

Investments_Loans_and_LongTerm2

Investments, Loans and Long-Term Receivables (Summary of Financial Information for Equity Method Investments) (Details) (WRB Refining LP And Chevron Phillips Chemical Company LLC [Member], USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
WRB Refining LP And Chevron Phillips Chemical Company LLC [Member]
Summary of financial information
Revenues	$4,906	$7,998
Income before income taxes	692	1,124
Net income	$672	$1,101

Investments_Loans_and_LongTerm3

Investments, Loans and Long-Term Receivables (Narrative) (Details) (USD $)	3 Months Ended		1 Months Ended	84 Months Ended	1 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2014	Dec. 31, 2013	Apr. 30, 2015	Aug. 31, 2009	Aug. 28, 2009	Aug. 27, 2009
Schedule of Equity Method Investments [Line Items]
Capital Expenditures And Investments	$1,081,000,000	$572,000,000
WRB Refining LP [Member]
Schedule of Equity Method Investments [Line Items]
Percentage of ownership interest	50.00%
Total distribution received			1,232,000,000
Dividend considered an operating cash inflow			760,000,000
Dividend considered an investing cash inflow			472,000,000
Book value of our investment in WRB	1,898,000,000
Basis difference in book value of our investment in WRB	3,326,000,000
Merey Sweeny [Member]
Schedule of Equity Method Investments [Line Items]
Additional ownership interest acquired						50.00%	50.00%
Petroleos De Venezuela S.A. (PDVSA) [Member] | Merey Sweeny [Member]
Schedule of Equity Method Investments [Line Items]
Percentage of equity interest of others								50.00%
Cenovus Energy Inc [Member] | WRB Refining LP [Member]
Schedule of Equity Method Investments [Line Items]
Contribution to WRB Cenovus was obligated to make				7,500,000,000
Conocophillips [Member] | Merey Sweeny [Member]
Schedule of Equity Method Investments [Line Items]
Percentage of ownership interest								50.00%
Subsequent Event [Member] | Rockies Express Pipeline Llc Rex [Member]
Schedule of Equity Method Investments [Line Items]
Percentage of ownership interest					25.00%
Repayments of Long-term Debt					450,000,000
Long-term debt					2,600,000,000
Capital Expenditures And Investments					$112,000,000

Properties_Plants_and_Equipmen2

Properties, Plants and Equipment (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Millions, unless otherwise specified
Properties, plants and equipment with the associated accumulated depreciation and amortization
Gross PP&E	$27,856	$27,145
Accum D&A	9,938	9,799
Net PP&E	17,918	17,346
Midstream [Member]
Properties, plants and equipment with the associated accumulated depreciation and amortization
Gross PP&E	5,337	4,726
Accum D&A	1,209	1,185
Net PP&E	4,128	3,541
Refining [Member]
Properties, plants and equipment with the associated accumulated depreciation and amortization
Gross PP&E	20,126	19,951
Accum D&A	7,558	7,424
Net PP&E	12,568	12,527
Marketing and Specialties [Member]
Properties, plants and equipment with the associated accumulated depreciation and amortization
Gross PP&E	1,410	1,490
Accum D&A	702	738
Net PP&E	708	752
Corporate and Other [Member]
Properties, plants and equipment with the associated accumulated depreciation and amortization
Gross PP&E	983	978
Accum D&A	469	452
Net PP&E	$514	$526

Earnings_per_Share_Summary_of_

Earnings per Share (Summary of Earnings Per Share Calculation) (Details) (USD $)	3 Months Ended
In Millions, except Share data in Thousands, unless otherwise specified	Mar. 31, 2015		Mar. 31, 2014
Basic EPS Calculation
Income from continuing operations attributable to Phillips 66	$987		$866
Income allocated to participating securities	-2		-1
Income from continuing operations available to common stockholders	985		865
Discontinued operations			706
Net Income available to common stockholders	985		1,571
Weighted-average common shares outstanding (thousands)	543,469		580,027
Effect of stock-based compensation (thousands)	4,731		4,026
Weighted-average commons shares outstanding - EPS (thousands)	548,200	[1]	584,053	[1]
Income from continuing operations attributable to Phillips 66, per share (dollars)	$1.80		$1.48
Discontinued operations, per share (dollars)			$1.21
Earnings Per Share (dollars)	$1.80		$2.69
Diluted EPS Calculation
Income allocated to participating securities	-1
Income from continuing operations available to common stockholders	986		866
Net Income available to common stockholders	$986		$1,572
Effect of stock-based compensation (thousands)	4,137		5,522
Weighted-average commons shares outstanding - EPS (thousands)	552,337	[1]	589,575	[1]
Income from continuing operations attributable to Phillips 66, per share (dollars)	$1.79		$1.47
Discontinued operations, per share (dollars)			$1.20
Earnings Per Share (dollars)	$1.79		$2.67
[1]	Net of provision for income taxes on discontinued operations: $-, $5

Debt_Narrative_Details

Debt (Narrative) (Details) (USD $)	1 Months Ended
	Mar. 31, 2015	Dec. 31, 2014	Feb. 28, 2015	Feb. 23, 2015
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Amount of outstanding borrowings under revolving credit agreement	$0	$0
Borrowing capacity under revolving credit agreement	5,000,000,000
Letters of credit issued	51,000,000	51,000,000
Aggregate total capacity available under credit facilities	5,400,000,000
Phillips 66 Partners LP [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Amount of outstanding borrowings under revolving credit agreement	0	18,000,000
Borrowing capacity under revolving credit agreement	500,000,000
One Point Nine Five Zero Senior Notes Due Two Thousand Fifteen [Member]
Debt Instrument [Line Items]
Senior Notes repaid upon maturity	800,000,000
Senior Notes [Member]
Debt Instrument [Line Items]
Public offering of aggregate principal amount of debt issued	7,500,000,000
Senior Notes [Member] | Phillips 66 Partners LP [Member]
Debt Instrument [Line Items]
Public offering of aggregate principal amount of debt issued			1,100,000,000	1,100,000,000
Senior Notes [Member] | One Point Nine Five Zero Senior Notes Due Two Thousand Fifteen [Member]
Debt Instrument [Line Items]
Senior Notes, Interest Rate, Stated Percentage	1.95%
Senior Notes [Member] | TwoPointSixFourSixSeniorNotesDueTwoThousandTwenty [Member] | Phillips 66 Partners LP [Member]
Debt Instrument [Line Items]
Senior Notes, Interest Rate, Stated Percentage			2.65%
Public offering of aggregate principal amount of debt issued			300,000,000
Senior Notes [Member] | ThreePointSixZeroFiveSeniorNotesDueTwoThousandTwentyFive [Member] | Phillips 66 Partners LP [Member]
Debt Instrument [Line Items]
Senior Notes, Interest Rate, Stated Percentage			3.61%
Public offering of aggregate principal amount of debt issued			500,000,000
Senior Notes [Member] | FourPointSixEightZeroSeniorNotesDueTwoThousandFortyFive [Member] | Phillips 66 Partners LP [Member]
Debt Instrument [Line Items]
Senior Notes, Interest Rate, Stated Percentage			4.68%
Public offering of aggregate principal amount of debt issued			$300,000,000

Guarantees_Narrative_Details

Guarantees (Narrative) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014	Dec. 31, 2012	Jul. 31, 1999
In Millions, unless otherwise specified
Guarantees (Textual) [Abstract]
Environmental accruals included in recorded carrying amount	$480	$496
Residual Value Guarantees [Member]
Guarantees (Textual) [Abstract]
Maximum potential amount of future payments under the guarantees	361
Other Guarantees [Member]
Guarantees (Textual) [Abstract]
Maximum potential amount of future payments under the guarantees	123
Indemnifications [Member]
Guarantees (Textual) [Abstract]
Carrying amount of indemnifications	216
Environmental accruals included in recorded carrying amount	102
MSLP 8.85% Senior Notes [Member] | Merey Sweeny [Member] | Guarantees of Joint Venture Debt [Member]
Guarantees (Textual) [Abstract]
Percentage of guarantee			100.00%
Stated interest rate of debt issued, percentage			8.85%	8.85%
Maximum potential amount of future payments under the guarantees	$189

Contingencies_and_Commitments_

Contingencies and Commitments (Narrative) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Contingencies and Commitments (Textual) [Abstract]
Total environmental accrual	$480	$496
Expected years to incur a substantial amount of expenditures	30 years
Revolving Credit Facility [Member]
Contingencies and Commitments (Textual) [Abstract]
Letters of credit issued	51	51
Performance Guarantee [Member]
Contingencies and Commitments (Textual) [Abstract]
Letters of credit and bank guarantees	665
Performance Guarantee [Member] | Revolving Credit Facility [Member]
Contingencies and Commitments (Textual) [Abstract]
Letters of credit issued	$51

Derivatives_and_Financial_Inst2

Derivatives and Financial Instruments (Summary of Commodity Derivative Assets and Liabilities) (Details) (Commodity Derivatives [Member], USD $)	Mar. 31, 2015		Dec. 31, 2014
In Millions, unless otherwise specified
Accounts and notes receivable [Member]
Fair value of commodity derivative assets and liabilities, without netting
Commodity derivative assets, fair value gross			($1)	[1]
Prepaid Expenses and Other Current Assets [Member]
Fair value of commodity derivative assets and liabilities, without netting
Commodity derivative assets, fair value gross	1,989	[1]	3,839	[1]
Other Assets [Member]
Fair value of commodity derivative assets and liabilities, without netting
Commodity derivative assets, fair value gross	36	[1]	29	[1]
Other Accruals [Member]
Fair value of commodity derivative assets and liabilities, without netting
Commodity derivative liabilities, fair value gross	1,776	[1]	3,472	[1]
Other Liabilities and Deferred Credits [Member]
Fair value of commodity derivative assets and liabilities, without netting
Commodity derivative liabilities, fair value gross	$11	[1]	$1	[1]
[1]	Hedge accounting has not been used for any item in the table.

Derivatives_and_Financial_Inst3

Derivatives and Financial Instruments (Summary of Gains/(Losses) From Commodity Derivatives) (Details) (Commodity Derivatives [Member], USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015		Mar. 31, 2014
Sales and Other Operating Revenues [Member]
Summary of gains (losses) from commodity derivatives
Gains (losses) from commodity derivatives	($31)	[1]	$57	[1]
Other Income [Member]
Summary of gains (losses) from commodity derivatives
Gains (losses) from commodity derivatives	43	[1]	14	[1]
Purchased Crude Oil and Products [Member]
Summary of gains (losses) from commodity derivatives
Gains (losses) from commodity derivatives	$20	[1]	$2	[1]
[1]	Hedge accounting has not been used for any item in the table.

Derivatives_and_Financial_Inst4

Derivatives and Financial Instruments (Summary of Outstanding Commodity Derivative Contracts) (Details)	Mar. 31, 2015	Dec. 31, 2014
	MMBbls	MMBbls
Derivative [Line Items]
Crude oil, refined products and NGL (millions of barrels)	-23	-11

Derivatives_and_Financial_Inst5

Derivatives and Financial Instruments (Narrative) (Details)	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Financial instruments and derivative contracts (Textual) [Abstract]
Estimated percentage of derivative contract volume expiring within twelve months	98.00%	99.00%

Fair_Value_Measurements_Summar

Fair Value Measurements (Summary of Fair Value of Derivative Assets and Liabilities and Effect of Counterparty Netting) (Details) (USD $)	Mar. 31, 2015		Dec. 31, 2014
In Millions, unless otherwise specified
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Effect of counterparty netting, commodity derivative assets	($1,740)		($3,307)
Effect of collateral netting, commodity derivative assets	-101		-225
Rabbi trust assets	83		76
Total assets, fair value disclosure gross	2,108		3,943
Effect of counterparty netting, commodity derivative liabilities	-1,740		-3,307
Difference in carrying value and fair value	-711		-400
Total liabilities, fair value disclosure gross	11,247		12,347
Net carrying value presented on balance sheet, commodity derivative liabilities and debt	8,796		8,640
Carrying (Reported) Amount, Fair Value Disclosure [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Rabbi trust assets	83		76
Net carrying value presented on balance sheet, commodity derivative assets and investments	267		411
Floating Rate Debt [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt excluding capital leases, fair value gross	50		68
Net carrying value presented on balance sheet, debt	50		68
Fixed Rate Debt Excluding Capital Leases [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt excluding capital leases, fair value gross	9,410	[1]	8,806	[1]
Net carrying value presented on balance sheet, debt	8,699	[1]	8,406	[1]
Difference in carrying value and fair value	-711	[1]	-400	[1]
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Rabbi trust assets	83		76
Total assets, fair value disclosure gross	1,229		2,134
Total liabilities, fair value disclosure gross	1,209		1,901
Level 1 [Member] | Floating Rate Debt [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt excluding capital leases, fair value gross	50		68
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets, fair value disclosure gross	878		1,802
Total liabilities, fair value disclosure gross	10,038		10,446
Level 2 [Member] | Fixed Rate Debt Excluding Capital Leases [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt excluding capital leases, fair value gross	9,410	[1]	8,806	[1]
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets, fair value disclosure gross	1		7
Exchange-cleared Instruments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Commodity derivative assets, fair value gross	1,942		3,583
Effect of counterparty netting, commodity derivative assets	-1,734		-3,255
Effect of collateral netting, commodity derivative assets	-101		-225
Net carrying value presented on balance sheet, commodity derivative assets	107		103
Derivative, Collateral, Obligation to Return Cash	0
Commodity derivative liabilities, fair value gross	1,734		3,255
Effect of counterparty netting, commodity derivative liabilities	-1,734		-3,255
Exchange-cleared Instruments [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Commodity derivative assets, fair value gross	1,146		2,058
Commodity derivative liabilities, fair value gross	1,159		1,833
Exchange-cleared Instruments [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Commodity derivative assets, fair value gross	796		1,525
Commodity derivative liabilities, fair value gross	575		1,422
OTC Instruments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Commodity derivative assets, fair value gross	10		24
Effect of counterparty netting, commodity derivative assets	-6		-14
Net carrying value presented on balance sheet, commodity derivative assets	4		10
Commodity derivative liabilities, fair value gross	12		29
Effect of counterparty netting, commodity derivative liabilities	-6		-14
Net carrying value presented on balance sheet, commodity derivative liabilities	6		15
OTC Instruments [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Commodity derivative assets, fair value gross	10		24
Commodity derivative liabilities, fair value gross	12		29
Physical Forward Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Commodity derivative assets, fair value gross	73	[2]	260	[2]
Effect of counterparty netting, commodity derivative assets			-38	[2]
Net carrying value presented on balance sheet, commodity derivative assets	73	[2]	222	[2]
Commodity derivative liabilities, fair value gross	41	[2]	189	[2]
Effect of counterparty netting, commodity derivative liabilities			-38	[2]
Net carrying value presented on balance sheet, commodity derivative liabilities	41	[2]	151	[2]
Physical Forward Contracts [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Commodity derivative assets, fair value gross	72	[2]	253	[2]
Commodity derivative liabilities, fair value gross	41	[2]	189	[2]
Physical Forward Contracts [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Commodity derivative assets, fair value gross	$1	[2]	$7	[2]
[1]	We carry fixed-rate debt on the balance sheet at amortized cost.
[2]	Physical forward contracts may have a larger value on the balance sheet than disclosed in the fair value hierarchy when the remaining contract term at the reporting date is greater than 12 months and the short-term portion is an asset while the long-term portion is a liability, or vice versa.

Employee_Benefit_Plans_Summary

Employee Benefit Plans (Summary of Components of Net Periodic Benefit Cost) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
United States Pension Plans of U S Entity, Defined Benefit [Member]
Components of Net Periodic Benefit Cost
Service cost	$31	$30
Interest cost	27	27
Expected return on plan assets	-35	-36
Amortization of prior service cost (credit)	1	1
Recognized net actuarial loss (gain)	19	10
Settlements	1
Total net periodic benefit cost	44	32
Foreign Pension Plans, Defined Benefit [Member]
Components of Net Periodic Benefit Cost
Service cost	10	10
Interest cost	7	9
Expected return on plan assets	-10	-9
Amortization of prior service cost (credit)		-1
Recognized net actuarial loss (gain)	4	3
Total net periodic benefit cost	11	12
Other Postretirement Benefit Plans, Defined Benefit [Member]
Components of Net Periodic Benefit Cost
Service cost	2	2
Interest cost	2	2
Recognized net actuarial loss (gain)		-1
Total net periodic benefit cost	$4	$3

Employee_Benefit_Plans_Narrati

Employee Benefit Plans (Narrative) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015
United States Pension Plans of U S Entity, Defined Benefit [Member]
Employee Benefit Plans (Textual) [Abstract]
Company contributions to plans	$3
Additional contributions expected to be made in remainder of 2015	60
Foreign Pension Plans, Defined Benefit [Member]
Employee Benefit Plans (Textual) [Abstract]
Company contributions to plans	14
Additional contributions expected to be made in remainder of 2015	$45

Accumulated_Other_Comprehensiv2

Accumulated Other Comprehensive Income (Loss) (Summary of the Components of Accumulated Other Comprehensive Income (Loss) and Detail on Reclassifications) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015		Mar. 31, 2014		Dec. 31, 2014	Dec. 31, 2013
Changes in accumulated other comprehensive income (loss) by component
Accumulated other comprehensive income (loss), beginning balance	($531)		$37
Other comprehensive income (loss) before reclassifications	-185		32
Actuarial losses	22	[1]	8	[1]
Other Comprehensive Income (Loss), Net of Tax	-163		40
Accumulated other comprehensive income (loss), ending balance	-694		77
Defined Benefit Plans [Member]
Changes in accumulated other comprehensive income (loss) by component
Accumulated other comprehensive income (loss), beginning balance	-696		-404
Other comprehensive income (loss) before reclassifications	3		2
Actuarial losses	22	[1]	8	[1]
Other Comprehensive Income (Loss), Net of Tax	25		10
Accumulated other comprehensive income (loss), ending balance	-671		-394
Foreign Curency Translation [Member]
Changes in accumulated other comprehensive income (loss) by component
Accumulated other comprehensive income (loss), beginning balance	167		443
Other comprehensive income (loss) before reclassifications	-188		30
Other Comprehensive Income (Loss), Net of Tax	-188		30
Accumulated other comprehensive income (loss), ending balance	-21		473
Hedging [Member]
Changes in accumulated other comprehensive income (loss) by component
Accumulated other comprehensive income (loss), beginning balance					-2	-2
Accumulated other comprehensive income (loss), ending balance	($2)		($2)		($2)	($2)
[1]	These accumulated other comprehensive income (loss) components are included in the computation of net periodic benefit cost (see Note 14—Employee Benefit Plans, for additional information).

Cash_Flow_Information_Narrativ

Cash Flow Information (Narrative) (Details) (Phillips Specialty Products Inc [Member], USD $)	1 Months Ended
Share data in Millions, unless otherwise specified	Feb. 28, 2014
Phillips Specialty Products Inc [Member]
Noncash or Part Noncash Divestitures [Line Items]
Noncash portion of net assets surrendered in exchange	$204,000,000
Number of shares of Phillips 66 common stock received in exchange	17.4
Fair value of shares at time of the exchange	$1,350,000,000

Related_Party_Transactions_Sum

Related Party Transactions (Summary of Significant Related Party Transactions) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015		Mar. 31, 2014
Significant transactions with related parties
Operating revenues and other income	$617	[1]	$2,067	[1]
Purchases	1,948	[2]	3,991	[2]
Operating expenses and selling, general and administrative expenses	31	[3]	35	[3]
Interest expense	$2	[4]	$2	[4]
[1]	GL and other petrochemical feedstocks, along with solvents, were sold to CPChem, and gas oil and hydrogen feedstocks were sold to Excel. Certain feedstocks and intermediate products were sold to WRB. We also acted as agent for WRB in supplying crude oil and other feedstocks, wherein the transactional amounts did not impact operating revenues. In addition, we charged several of our affiliates, including CPChem and MSLP, for the use of common facilities, such as steam generators, waste and water treaters, and warehouse facilities.
[2]	We purchased refined products from WRB. We also acted as agent for WRB in distributing asphalt and solvents, wherein the transactional amounts did not impact purchases. We purchased natural gas and NGL from DCP Midstream, LLC (DCP Midstream) and CPChem for use in our refinery processes and other feedstocks from various affiliates. We also paid fees to various pipeline equity companies for transporting finished refined products. In addition, we paid a price upgrade to MSLP for heavy crude processing. We purchased base oils and fuel products from Excel for use in our refining and specialty businesses.
[3]	We paid utility and processing fees to various affiliates.
[4]	We incurred interest expense on a note payable to MSLP.

Segment_Disclosures_and_Relate2

Segment Disclosures and Related Information (Summary of Sales and Other Operating Revenues, Net Income (Loss) Attributable to Phillips 66 and Total Assets by Operating Segment) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015		Mar. 31, 2014		Dec. 31, 2014
Analysis of results by operating segment
Sales and other operating revenues	$22,778	[1]	$40,283	[1]
Net Income (Loss) Attributable to Phillips 66	987		1,572
Analysis of results of assets by operating segment
Total Assets	49,077				48,741
Discontinued Operations [Member]
Analysis of results by operating segment
Net Income (Loss) Attributable to Phillips 66			706
Midstream [Member]
Analysis of results by operating segment
Sales and other operating revenues	715		1,863
Net Income (Loss) Attributable to Phillips 66	67		188
Analysis of results of assets by operating segment
Total Assets	7,847				7,295
Chemicals [Member]
Analysis of results by operating segment
Sales and other operating revenues	2		2
Net Income (Loss) Attributable to Phillips 66	203		316
Analysis of results of assets by operating segment
Total Assets	5,469				5,209
Refining [Member]
Analysis of results by operating segment
Sales and other operating revenues	5,515		11,657
Net Income (Loss) Attributable to Phillips 66	538		306
Analysis of results of assets by operating segment
Total Assets	23,040				22,808
Marketing and Specialties [Member]
Analysis of results by operating segment
Sales and other operating revenues	16,537		26,754
Net Income (Loss) Attributable to Phillips 66	304		137
Analysis of results of assets by operating segment
Total Assets	6,461				7,051
Corporate and Other [Member]
Analysis of results by operating segment
Sales and other operating revenues	9		7
Net Income (Loss) Attributable to Phillips 66	-125		-81
Analysis of results of assets by operating segment
Total Assets	6,260				6,378
Operating Segments [Member] | Midstream [Member]
Analysis of results by operating segment
Sales and other operating revenues	969		2,155
Operating Segments [Member] | Refining [Member]
Analysis of results by operating segment
Sales and other operating revenues	14,271		29,215
Operating Segments [Member] | Marketing and Specialties [Member]
Analysis of results by operating segment
Sales and other operating revenues	16,748		27,046
Intersegment Eliminations [Member] | Midstream [Member]
Analysis of results by operating segment
Sales and other operating revenues	-254		-292
Intersegment Eliminations [Member] | Refining [Member]
Analysis of results by operating segment
Sales and other operating revenues	-8,756		-17,558
Intersegment Eliminations [Member] | Marketing and Specialties [Member]
Analysis of results by operating segment
Sales and other operating revenues	($211)		($292)
[1]	Includes excise taxes on petroleum products sales: $3,362, $3,522

Segment_Disclosures_and_Relate3

Segment Disclosures and Related Information (Narrative) (Details)	1 Months Ended	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2015
Segment Disclosures And Related Information (Textual) [Abstract]
Number of refineries	1
Midstream Segment [Member] | DCP Midstream [Member]
Segment Disclosures And Related Information (Textual) [Abstract]
Percentage of ownership interest		50.00%
Chemicals Segment [Member] | CP Chem [Member]
Segment Disclosures And Related Information (Textual) [Abstract]
Percentage of ownership interest		50.00%
Refining [Member] | Mainly United States And Europe [Member]
Segment Disclosures And Related Information (Textual) [Abstract]
Number of refineries		14

Income_Taxes_Narrative_Details

Income Taxes (Narrative) (Details)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Income Taxes (Textual) [Abstract]
Effective tax rate, percent	28.00%	33.00%
Federal statutory tax rate, percent	35.00%

Phillips_66_Partners_LP_Narrat

Phillips 66 Partners LP (Narrative) (Details) (USD $)	3 Months Ended	2 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2015	Feb. 23, 2015	Mar. 02, 2015	Dec. 31, 2014	Feb. 28, 2015
Subsidiary or Equity Method Investee [Line Items]
Public's ownership interest in Phillips 66 Partners reflected as a noncontrolling interest	835			$447
Net properties, plants and equipment	17,918			17,346
Phillips 66 Partners LP [Member]
Subsidiary or Equity Method Investee [Line Items]
Limited partnership interest in Phillips 66 Partners, percentage	69.00%
General partnership interest in Phillips 66 Partners, percentage	2.00%
Phillips 66 Partners LP [Member]
Subsidiary or Equity Method Investee [Line Items]
Limited partner interest in Phillips 66 Partners owned by public, percentage	29.00%
Equity investments	801
Net properties, plants and equipment	465
Phillips 66 Partners LP [Member] | Common Units [Member]
Subsidiary or Equity Method Investee [Line Items]
Public offering of common units		5,250,000
Public offering price, per share		$75.50
Partners' Capital Account, Public Sale of Units Net of Offering Costs		384
Noncontrolling Interest [Member] | Phillips 66 Partners LP [Member]
Subsidiary or Equity Method Investee [Line Items]
Public's ownership interest in Phillips 66 Partners reflected as a noncontrolling interest	801
Phillips 66 Partners LP [Member] | Explorer Pipeline Company [Member]
Subsidiary or Equity Method Investee [Line Items]
Equity interests contributed, percentage			0.195
Phillips 66 Partners LP [Member] | DCP Sand Hills Pipeline, LLC [Member]
Subsidiary or Equity Method Investee [Line Items]
Equity interests contributed, percentage			0.333
Phillips 66 Partners LP [Member] | DCP Southern Hills Pipeline, LLC [Member]
Subsidiary or Equity Method Investee [Line Items]
Equity interests contributed, percentage			0.333
Phillips 66 Partners LP [Member] | ExplorerPipelineCompanyDcpSandHillsPipelineLlcDcpSouthernHillsPipelineLlc [Member]
Subsidiary or Equity Method Investee [Line Items]
Total consideration for contributed assets			1,010
Cash received for contributed assets			880
Common And General Partner Units [Member] | Phillips 66 Partners LP [Member] | ExplorerPipelineCompanyDcpSandHillsPipelineLlcDcpSouthernHillsPipelineLlc [Member]
Subsidiary or Equity Method Investee [Line Items]
Aggregate fair value of units received			130
Senior Notes [Member]
Subsidiary or Equity Method Investee [Line Items]
Public offering of aggregate principal amount of debt issued	7,500
Senior Notes [Member] | Phillips 66 Partners LP [Member]
Subsidiary or Equity Method Investee [Line Items]
Public offering of aggregate principal amount of debt issued		$1,100			$1,100

Condensed_Consolidating_Financ2

Condensed Consolidating Financial Information (Condensed Consolidating Statement of Income) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015		Mar. 31, 2014
Revenues and Other Income
Sales and other operating revenues	$22,778	[1]	$40,283	[1]
Equity in earnings of affiliates	456		778
Net gain on dispositions	122		7
Other income	70		31
Total Revenues and Other Income	23,426		41,099
Cost And Expenses
Purchased crude oil and products	16,695		34,381
Operating expenses	1,094		1,090
Selling, general and administrative expenses	394		402
Depreciation and amortization	253		234
Impairments			1
Taxes other than income taxes	3,462	[1]	3,638	[1]
Accretion on discounted liabilities	5		6
Interest and debt expense	86		68
Foreign currency transaction losses (gains)	49		-19
Total Costs and Expenses	22,038		39,801
Income from continuing operations before income taxes	1,388		1,298
Provision (benefit) for income taxes	391		426
Income From Continuing Operations	997		872
Income from discontinued operations			706	[2],[3]
Net income	997		1,578
Less: net income attributable to noncontrolling interests	10		6
Net Income Attributable to Phillips 66	987		1,572
Comprehensive Income	834		1,618
Phillips 66 [Member]
Revenues and Other Income
Equity in earnings of affiliates	1,052		922
Total Revenues and Other Income	1,052		922
Cost And Expenses
Operating expenses	4		2
Selling, general and administrative expenses	2		3
Interest and debt expense	93		66
Total Costs and Expenses	99		71
Income from continuing operations before income taxes	953		851
Provision (benefit) for income taxes	-34		-25
Income From Continuing Operations	987		876
Income from discontinued operations			696	[3]
Net income	987		1,572
Net Income Attributable to Phillips 66	987		1,572
Comprehensive Income	824		1,612
Phillips 66 Company [Member]
Revenues and Other Income
Equity in earnings of affiliates	722		738
Net gain on dispositions	-5
Other income	59		22
Total Revenues and Other Income	16,503		28,375
Cost And Expenses
Purchased crude oil and products	12,277		24,384
Operating expenses	874		893
Selling, general and administrative expenses	292		286
Depreciation and amortization	194		180
Impairments			1
Taxes other than income taxes	1,381		1,301
Accretion on discounted liabilities	4		5
Interest and debt expense	6		4
Total Costs and Expenses	15,028		27,054
Income from continuing operations before income taxes	1,475		1,321
Provision (benefit) for income taxes	423		399
Income From Continuing Operations	1,052		922
Net income	1,052		922
Net Income Attributable to Phillips 66	1,052		922
Comprehensive Income	889		962
All Other Subsidiaries [Member]
Revenues and Other Income
Equity in earnings of affiliates	49		178
Net gain on dispositions	127		7
Other income	11		9
Total Revenues and Other Income	9,527		17,841
Cost And Expenses
Purchased crude oil and products	6,673		14,938
Operating expenses	230		201
Selling, general and administrative expenses	101		138
Depreciation and amortization	59		54
Taxes other than income taxes	2,081		2,337
Accretion on discounted liabilities	1		1
Interest and debt expense	6		5
Foreign currency transaction losses (gains)	49		-19
Total Costs and Expenses	9,200		17,655
Income from continuing operations before income taxes	327		186
Provision (benefit) for income taxes	2		52
Income From Continuing Operations	325		134
Income from discontinued operations			10	[3]
Net income	325		144
Less: net income attributable to noncontrolling interests	10		6
Net Income Attributable to Phillips 66	315		138
Comprehensive Income	149		176
Reportable Legal Entities [Member] | Phillips 66 Company [Member]
Revenues and Other Income
Sales and other operating revenues	15,587		27,239
Reportable Legal Entities [Member] | All Other Subsidiaries [Member]
Revenues and Other Income
Sales and other operating revenues	7,191		13,044
Consolidating Adjustments [Member]
Revenues and Other Income
Sales and other operating revenues	-2,289		-4,979
Equity in earnings of affiliates	-1,367		-1,060
Total Revenues and Other Income	-3,656		-6,039
Cost And Expenses
Purchased crude oil and products	-2,255		-4,941
Operating expenses	-14		-6
Selling, general and administrative expenses	-1		-25
Interest and debt expense	-19		-7
Total Costs and Expenses	-2,289		-4,979
Income from continuing operations before income taxes	-1,367		-1,060
Income From Continuing Operations	-1,367		-1,060
Net income	-1,367		-1,060
Net Income Attributable to Phillips 66	-1,367		-1,060
Comprehensive Income	-1,028		-1,132
Consolidating Adjustments [Member] | Phillips 66 Company [Member]
Revenues and Other Income
Sales and other operating revenues	-140		-376
Consolidating Adjustments [Member] | All Other Subsidiaries [Member]
Revenues and Other Income
Sales and other operating revenues	($2,149)		($4,603)
[1]	Includes excise taxes on petroleum products sales: $3,362, $3,522
[2]	Net of provision for income taxes on discontinued operations: $-, $5
[3]	Net of provision for income taxes on discontinued operations: $-, $-, $5, $-, $5

Condensed_Consolidating_Financ3

Condensed Consolidating Financial Information (Condensed Consolidating Balance Sheet) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Assets [Abstract]
Cash and cash equivalents	$5,390	$5,207	$5,326	$5,400
Accounts and notes receivable	5,737	7,255
Inventories	4,166	3,397
Prepaid expenses and other current assets	851	837
Total Current Assets	16,144	16,696
Investments and long-term receivables	10,529	10,189
Net properties, plants and equipment	17,918	17,346
Goodwill	3,274	3,274
Intangibles	882	900
Other assets	330	336
Total Assets	49,077	48,741
Liabilities and Equity [Abstract]
Accounts payable	7,693	8,064
Short-term debt	35	842
Accrued income and other taxes	1,112	878
Employee benefit obligations	283	462
Other accruals	741	848
Total Current Liabilities	9,864	11,094
Long-term debt	8,914	7,842
Asset retirement obligations and accrued environmental costs	650	683
Deferred income taxes	5,483	5,491
Employee benefit obligations	1,292	1,305
Other liabilities and deferred credits	279	289
Total Liabilities	26,482	26,704
Common stock	12,433	12,812
Retained earnings	10,021	9,309
Accumulated other comprehensive income (loss)	-694	-531	77	37
Noncontrolling interests	835	447
Total Liabilities and Equity	49,077	48,741
Phillips 66 [Member]
Assets [Abstract]
Accounts and notes receivable	26	14
Prepaid expenses and other current assets	9	9
Total Current Assets	35	23
Investments and long-term receivables	31,029	30,141
Other assets	58	60
Total Assets	31,122	30,224
Liabilities and Equity [Abstract]
Short-term debt		798
Other accruals	143	65
Total Current Liabilities	143	863
Long-term debt	7,456	7,457
Other liabilities and deferred credits	1,734	285
Total Liabilities	9,333	8,605
Common stock	12,433	12,812
Retained earnings	10,050	9,338
Accumulated other comprehensive income (loss)	-694	-531
Total Liabilities and Equity	31,122	30,224
Phillips 66 Company [Member]
Assets [Abstract]
Cash and cash equivalents	1,686	2,045	2,096	2,162
Accounts and notes receivable	3,761	5,069
Inventories	2,637	2,026
Prepaid expenses and other current assets	499	429
Total Current Assets	8,583	9,569
Investments and long-term receivables	20,428	18,896
Net properties, plants and equipment	12,369	12,267
Goodwill	3,040	3,040
Intangibles	694	694
Other assets	153	159
Total Assets	45,267	44,625
Liabilities and Equity [Abstract]
Accounts payable	4,659	5,618
Short-term debt	20	26
Accrued income and other taxes	612	356
Employee benefit obligations	258	409
Other accruals	236	242
Total Current Liabilities	5,785	6,651
Long-term debt	162	159
Asset retirement obligations and accrued environmental costs	469	494
Deferred income taxes	4,289	4,240
Employee benefit obligations	1,087	1,074
Other liabilities and deferred credits	2,493	1,919
Total Liabilities	14,285	14,537
Common stock	25,404	25,405
Retained earnings	6,272	5,214
Accumulated other comprehensive income (loss)	-694	-531
Total Liabilities and Equity	45,267	44,625
All Other Subsidiaries [Member]
Assets [Abstract]
Cash and cash equivalents	3,704	3,162	3,230	3,238
Accounts and notes receivable	2,424	3,274
Inventories	1,529	1,371
Prepaid expenses and other current assets	343	399
Total Current Assets	8,000	8,206
Investments and long-term receivables	5,332	4,631
Net properties, plants and equipment	5,549	5,079
Goodwill	234	234
Intangibles	188	206
Other assets	123	121
Total Assets	19,426	18,477
Liabilities and Equity [Abstract]
Accounts payable	3,508	3,548
Short-term debt	17	18
Accrued income and other taxes	500	522
Employee benefit obligations	25	53
Other accruals	362	541
Total Current Liabilities	4,412	4,682
Long-term debt	1,294	226
Asset retirement obligations and accrued environmental costs	181	189
Deferred income taxes	1,198	1,255
Employee benefit obligations	205	231
Other liabilities and deferred credits	2,067	2,126
Total Liabilities	9,357	8,709
Common stock	8,059	8,240
Retained earnings	1,344	1,074
Accumulated other comprehensive income (loss)	-169	7
Noncontrolling interests	835	447
Total Liabilities and Equity	19,426	18,477
Consolidating Adjustments [Member]
Assets [Abstract]
Accounts and notes receivable	-474	-1,102
Total Current Assets	-474	-1,102
Investments and long-term receivables	-46,260	-43,479
Other assets	-4	-4
Total Assets	-46,738	-44,585
Liabilities and Equity [Abstract]
Accounts payable	-474	-1,102
Short-term debt	-2
Total Current Liabilities	-476	-1,102
Long-term debt	2
Deferred income taxes	-4	-4
Other liabilities and deferred credits	-6,015	-4,041
Total Liabilities	-6,493	-5,147
Common stock	-33,463	-33,645
Retained earnings	-7,645	-6,317
Accumulated other comprehensive income (loss)	863	524
Total Liabilities and Equity	($46,738)	($44,585)

Condensed_Consolidating_Financ4

Condensed Consolidating Financial Information (Condensed Consolidating Statement of Cash Flows) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015		Mar. 31, 2014
Condensed Financial Statements, Captions [Line Items]
Net cash provided by continuing operating activities	$1,352		$1,396
Net cash provided by discontinued operations			2
Net Cash Provided by Operating Activities	1,352		1,398
Capital expenditures and investments	-1,081		-572
Proceeds from asset dispositions	-9	[1]	507	[1]
Advances/loans—related parties	-50
Other	102		13
Net cash used in continuing investing activities	-1,038		-52
Net cash used in discontinued operations			-34
Net Cash Provided by (Used in) Investing Activities	-1,038		-86
Issuance of debt	1,169
Repayment of debt	-895		-8
Issuance of common stock	-25		-20
Repurchase of common stock	-399		-640
Share exchange—PSPI transaction			-450
Dividends paid on common stock	-272		-229
Distributions to noncontrolling interests	-6		-4
Net proceeds from issuance of Phillips 66 Partners LP common units	384
Other	-14		-4
Net cash provided by (used in) continuing financing activities	-58		-1,355
Net Cash Provided by (Used in) Financing Activities	-58		-1,355
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-73		-31
Net Change in Cash and Cash Equivalents	183		-74
Cash and cash equivalents at beginning of period	5,207		5,400
Cash and Cash Equivalents at End of Period	5,390		5,326
Phillips 66 [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash provided by continuing operating activities	52		52
Net Cash Provided by Operating Activities	52		52
Intercompany lending activities	1,449		1,291
Net cash used in continuing investing activities	1,449		1,291
Net Cash Provided by (Used in) Investing Activities	1,449		1,291
Repayment of debt	-800
Issuance of common stock	-25		-20
Repurchase of common stock	-399		-640
Share exchange—PSPI transaction			-450
Dividends paid on common stock	-272		-229
Other	-5		-4
Net cash provided by (used in) continuing financing activities	-1,501		-1,343
Net Cash Provided by (Used in) Financing Activities	-1,501		-1,343
Phillips 66 Company [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash provided by continuing operating activities	60		10
Net Cash Provided by Operating Activities	60		10
Capital expenditures and investments	-425		-840
Proceeds from asset dispositions	881		871
Intercompany lending activities	-833		-66
Advances/loans—related parties	-50
Other	12		-38
Net cash used in continuing investing activities	-415		-73
Net Cash Provided by (Used in) Investing Activities	-415		-73
Repayment of debt	-4		-3
Net cash provided by (used in) continuing financing activities	-4		-3
Net Cash Provided by (Used in) Financing Activities	-4		-3
Net Change in Cash and Cash Equivalents	-359		-66
Cash and cash equivalents at beginning of period	2,045		2,162
Cash and Cash Equivalents at End of Period	1,686		2,096
All Other Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash provided by continuing operating activities	1,298		1,439
Net cash provided by discontinued operations			2
Net Cash Provided by Operating Activities	1,298		1,441
Capital expenditures and investments	-1,490		-450
Proceeds from asset dispositions	-10		36
Intercompany lending activities	-616		-1,225
Other	90		51
Net cash used in continuing investing activities	-2,026		-1,588
Net cash used in discontinued operations			-34
Net Cash Provided by (Used in) Investing Activities	-2,026		-1,622
Issuance of debt	1,169
Repayment of debt	-91		-5
Dividends paid on common stock	-39		-93
Distributions to noncontrolling interests	-6		-4
Net proceeds from issuance of Phillips 66 Partners LP common units	384
Other	91		580
Net cash provided by (used in) continuing financing activities	1,343		204
Net Cash Provided by (Used in) Financing Activities	1,343		204
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-73		-31
Net Change in Cash and Cash Equivalents	542		-8
Cash and cash equivalents at beginning of period	3,162		3,238
Cash and Cash Equivalents at End of Period	3,704		3,230
Consolidating Adjustments [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash provided by continuing operating activities	-58		-105
Net Cash Provided by Operating Activities	-58		-105
Capital expenditures and investments	834		718
Proceeds from asset dispositions	-880		-400
Net cash used in continuing investing activities	-46		318
Net Cash Provided by (Used in) Investing Activities	-46		318
Dividends paid on common stock	39		93
Distributions to controlling interests	165		274
Other	-100		-580
Net cash provided by (used in) continuing financing activities	104		-213
Net Cash Provided by (Used in) Financing Activities	104		-213
Consolidating Adjustments [Member] | All Other Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Distributions to controlling interests	($165)		($274)
[1]	Includes return of investments in equity affiliates and working capital true-ups on dispositions.

Condensed_Consolidating_Financ5

Condensed Consolidating Financial Information (Narrative) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Condensed Financial Statements, Captions [Line Items]
Percentage of ownership in subsidiary	100.00%
Net of provision for income taxes on discontinued operations	$0	$5
All Other Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Net of provision for income taxes on discontinued operations	0	5
Senior Notes [Member]
Condensed Financial Statements, Captions [Line Items]
Senior notes issued by Phillips 66	$7,500