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.


	Three Months Ended March 31
	2026			2025
	Basic		Diluted	Basic	Diluted
Amounts Attributed to Phillips 66 Common Stockholders (millions):
Net Income Attributable to Phillips 66	207		207	487	487
Income allocated to participating securities	(2)		(2)	(2)	(2)

Net income available to common stockholders	$	205	205	485	485

Weighted-average common shares outstanding (thousands):	400,933		402,036	407,926	409,182
Effect of share-based compensation	1,103		1,237	1,256	1,323
Weighted-average common shares outstanding—EPS	402,036		403,273	409,182	410,505

Earnings Per Share of Common Stock (dollars)	$	0.51	0.51	1.19	1.18