The numerator of basic earnings per share (EPS) is net income attributable to Phillips 66, adjusted for 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 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.


	2025			2024		2023
	Basic		Diluted	Basic	Diluted	Basic	Diluted
Amounts Attributed to Phillips 66 Common Stockholders (millions):
Net Income Attributable to Phillips 66	$	4,403	4,403	2,117	2,117	7,015	7,015
Income allocated to participating securities	(9)		(2)	(10)	(10)	(11)	—

Net income available to common stockholders	$	4,394	4,401	2,107	2,107	7,004	7,015

Weighted-average common shares outstanding (thousands):	404,783		406,008	418,607	420,174	448,381	450,136
Effect of share-based compensation	1,225		2,045	1,567	1,714	1,755	3,074
Weighted-average common shares outstanding—EPS	406,008		408,053	420,174	421,888	450,136	453,210

Earnings Per Share of Common Stock (dollars)	$	10.82	10.79	5.01	4.99	15.56	15.48