
	Millions of Dollars
	December 31, 2025
	Phillips 66	Phillips 66 Company	Phillips 66 Partners	DCP LP	Total









1.300% Senior Notes due February 2026	100	—	—	—	100
3.550% Senior Notes due October 2026	—	458	34	—	492
5.625% Senior Notes due July 2027	—	—	—	500	500
4.950% Senior Notes due December 2027	—	750	—	—	750
3.750% Senior Notes due March 2028	—	427	73	—	500
3.900% Senior Notes due March 2028	800	—	—	—	800
5.125% Senior Notes due May 2029	—	—	—	600	600
3.150% Senior Notes due December 2029	—	570	30	—	600
8.125% Senior Notes due August 2030	—	—	—	300	300
2.150% Senior Notes due December 2030	850	—	—	—	850
5.250% Senior Notes due June 2031	—	1,200	—	—	1,200
3.250% Senior Notes due February 2032	—	—	—	400	400
5.300% Senior Notes due June 2033	—	900	—	—	900
4.650% Senior Notes due November 2034	1,000	—	—	—	1,000
4.950% Senior Notes due March 2035	—	600	—	—	600
6.450% Senior Notes due November 2036	—	—	—	300	300
6.750% Senior Notes due September 2037	—	—	—	450	450
5.875% Senior Notes due May 2042	1,500	—	—	—	1,500

5.600% Senior Notes due April 2044	—	—	—	400	400
4.875% Senior Notes due November 2044	1,700	—	—	—	1,700
4.680% Senior Notes due February 2045	—	442	8	—	450
4.900% Senior Notes due October 2046	—	605	20	—	625
3.300% Senior Notes due March 2052	1,000	—	—	—	1,000
5.650% Senior Notes due June 2054	—	500	—	—	500
5.500% Senior Notes due March 2055	—	600	—	—	600
5.875% Series A Junior Subordinated Notes due March 2056	—	1,000	—	—	1,000
6.200% Series B Junior Subordinated Notes due March 2056	—	1,000	—	—	1,000

Commercial paper due January 2026 at 3.952% at year-end 2025	200	—	—	—	200




Receivables Securitization Facility due September 2026 at 4.538% at year-end 2025	200	—	—	—	200

Debt at face value	7,350	9,052	165	2,950	19,517
Finance leases					338
Software obligations					34
Net unamortized discounts, debt issuance costs and acquisition fair value adjustments					(173)
Total debt					19,716
Short-term debt					(1,038)
Long-term debt					$	18,678


	Millions of Dollars
	December 31, 2024
	Phillips 66	Phillips 66 Company	Phillips 66 Partners	DCP LP	Total






3.605% Senior Notes due February 2025	—	—	59	—	59

5.375% Senior Notes due July 2025	—	—	—	525	525
1.300% Senior Notes due February 2026	500	—	—	—	500
3.550% Senior Notes due October 2026	—	458	34	—	492
5.625% Senior Notes due July 2027	—	—	—	500	500
4.950% Senior Notes due December 2027	—	750	—	—	750
3.750% Senior Notes due March 2028	—	427	73	—	500
3.900% Senior Notes due March 2028	800	—	—	—	800
5.125% Senior Notes due May 2029	—	—	—	600	600
3.150% Senior Notes due December 2029	—	570	30	—	600
8.125% Senior Notes due August 2030	—	—	—	300	300
2.150% Senior Notes due December 2030	850	—	—	—	850
5.250% Senior Notes due June 2031	—	1,200	—	—	1,200
3.250% Senior Notes due February 2032	—	—	—	400	400
5.300% Senior Notes due June 2033	—	900	—	—	900
4.650% Senior Notes due November 2034	1,000	—	—	—	1,000
4.950% Senior Notes due March 2035	—	600	—	—	600
6.450% Senior Notes due November 2036	—	—	—	300	300
6.750% Senior Notes due September 2037	—	—	—	450	450
5.875% Senior Notes due May 2042	1,500	—	—	—	1,500

5.600% Senior Notes due April 2044	—	—	—	400	400
4.875% Senior Notes due November 2044	1,700	—	—	—	1,700
4.680% Senior Notes due February 2045	—	442	8	—	450
4.900% Senior Notes due October 2046	—	605	20	—	625
3.300% Senior Notes due March 2052	1,000	—	—	—	1,000
5.650% Senior Notes due June 2054	—	500	—	—	500
5.500% Senior Notes due March 2055	—	600	—	—	600
Commercial paper due January 2025 at 4.695% at year-end 2024	435	—	—	—	435
Uncommitted Facility due July 2025 at 5.300% at year-end 2024	—	400	—	—	400
Receivables Securitization Facility due September 2025 at 5.182% at year-end 2024	—	375	—	—	375

Floating Rate Term Loan due June 2026 at 5.445% at year-end 2024	—	550	—	—	550



Other	1	—	—	—	1
Debt at face value	7,786	8,377	224	3,475	19,862
Finance leases					352
Software obligations					17
Net unamortized discounts, debt issuance costs and acquisition fair value adjustments					(169)
Total debt					20,062
Short-term debt					(1,831)
Long-term debt					$	18,231