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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Phillips 66 | NYSE:PSX | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
3.66 | 2.61% | 143.87 | 144.65 | 141.40 | 141.55 | 2,310,275 | 01:00:00 |
[X]
|
ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
|
For the fiscal year ended
|
December 31, 2016
|
|
|
or
|
|
[ ]
|
TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
|
For the transition period from
|
|
to
|
|
|
Commission file number
|
001-35349
|
|
2331 CityWest Blvd.
|
|
Houston, Texas
|
77042
|
(Address of principal executive office)
|
(Zip code)
|
Phillips 66
|
Savings Plan
|
|
/s/ Alex J. Shabet
|
Alex J. Shabet
|
Plan Benefits Administrator
|
Index to Financial Statements and Schedule
|
Phillips 66 Savings Plan
|
|
|
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|
Page
|
Report of Independent Registered Public Accounting Firm
|
|
|
|
|
|
|
|
|
|
Financial Statements
|
|
|
|
|
Statements of Net Assets Available for Benefits at
December 31, 2016 and 2015
|
|
|
|
|
Statement of Changes in Net Assets Available for Benefits for the
Year Ended December 31, 2016
|
|
|
|
|
Notes to Financial Statements
|
|
|
|
|
|
|
|
|
|
Supplemental Schedule
|
|
|
|
|
Schedule H, Line 4i
—
Schedule of Assets (Held at End of Year)
as of December 31, 2016
|
|
|
|
|
|
|
|
|
|
Exhibit Index
|
|
|
|
|
|
/s/ ERNST & YOUNG LLP
|
Statements of Net Assets Available for Benefits
|
Phillips 66 Savings Plan
|
|
Thousands of Dollars
|
|||||
At December 31
|
2016
|
|
|
2015
|
|
|
Assets
|
|
|
|
|||
Investments at fair value
|
$
|
4,101,664
|
|
|
3,779,464
|
|
Investments at contract value
|
440,858
|
|
|
447,416
|
|
|
Notes receivable from participants
|
80,866
|
|
|
79,869
|
|
|
Participant deposits receivable
|
2
|
|
|
1
|
|
|
Company contributions receivable
|
14,350
|
|
|
34,269
|
|
|
Other receivable
|
175
|
|
|
1,090
|
|
|
Net Assets Available For Benefits
|
$
|
4,637,915
|
|
|
4,342,109
|
|
See Notes to Financial Statements.
|
|
|
|
Statement of Changes in Net Assets Available for Benefits
|
Phillips 66 Savings Plan
|
|
Thousands of Dollars
|
|
|
Year Ended December 31, 2016
|
|
||
Additions
|
|
||
Company contributions
|
$
|
97,187
|
|
Participant deposits
|
162,130
|
|
|
Rollovers
|
59,279
|
|
|
Total Contributions
|
318,596
|
|
|
|
|
||
Investment income
|
|
||
Dividends and interest
|
99,347
|
|
|
Net appreciation in fair value of investments
|
240,534
|
|
|
Total Investment Income
|
339,881
|
|
|
|
|
||
Interest income on notes receivable from participants
|
3,255
|
|
|
Other additions
|
55
|
|
|
Total Additions
|
661,787
|
|
|
|
|
||
Deductions
|
|
||
Benefit payments
|
364,729
|
|
|
Administrative expenses
|
1,252
|
|
|
Total Deductions
|
365,981
|
|
|
|
|
||
Net Increase
|
295,806
|
|
|
|
|
||
Net Assets Available for Benefits
|
|
||
Beginning of Year
|
4,342,109
|
|
|
End of Year
|
$
|
4,637,915
|
|
See Notes to Financial Statements.
|
|
Notes to Financial Statements
|
|
Phillips 66 Savings Plan
|
•
|
PIMCO Total Return Mutual Fund Institutional Class was replaced by Goldman Sachs Core Plus Fixed Income Collective Trust.
|
•
|
Vanguard Prime Money Market Fund was replaced by Vanguard Federal Money Market Fund.
|
•
|
Delaware SMID Cap Growth Mutual Fund was replaced by Jackson Square SMID-Cap Growth, Separately Managed Account.
|
•
|
Chemours Stock fund was removed from the Plan investment options.
|
•
|
Several mutual funds have been upgraded from institutional share class to institutional plus share class to further lower investment expenses.
|
|
Level 1:
|
Unadjusted quoted prices from an active market for identical assets or liabilities.
|
|
|
|
|
Level 2:
|
Adjusted quoted prices from an active market for similar assets or liabilities; or valuation inputs that are directly or indirectly observable.
|
|
|
|
|
Level 3:
|
Unobservable inputs that are significant to the fair value of assets or liabilities.
|
|
Thousands of Dollars
|
|||||||||
|
Assets at Fair Value as of December 31, 2016
|
|||||||||
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Total
|
|
||
Mutual Funds
|
$
|
1,464,567
|
|
—
|
|
—
|
|
1,464,567
|
|
|
Common Stock
|
1,858,401
|
|
—
|
|
—
|
|
1,858,401
|
|
||
Separately Managed Accounts - Common Stock
|
51,348
|
|
—
|
|
—
|
|
51,348
|
|
||
Short Term Investment Fund
|
22,727
|
|
—
|
|
—
|
|
22,727
|
|
||
Total
|
3,397,043
|
|
—
|
|
—
|
|
3,397,043
|
|
||
Goldman Sachs Core Plus Fixed Income CCT measured at net asset value (NAV)
|
|
|
|
5,499
|
|
|||||
Target Retirement Date Trusts measured at NAV
|
|
|
|
|
|
|
699,122
|
|
||
Total Investments at Fair Value
|
|
|
|
|
|
|
$
|
4,101,664
|
|
|
Thousands of Dollars
|
|||||||||
|
Assets at Fair Value as of December 31, 2015
|
|||||||||
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Total
|
|
||
Mutual Funds
|
$
|
1,415,948
|
|
—
|
|
—
|
|
1,415,948
|
|
|
Common Stock
|
1,776,850
|
|
—
|
|
—
|
|
1,776,850
|
|
||
Short Term Investment Fund
|
24,947
|
|
—
|
|
—
|
|
24,947
|
|
||
Total
|
3,217,745
|
|
—
|
|
—
|
|
3,217,745
|
|
||
Target Retirement Date Trusts measured at NAV
|
|
|
|
561,719
|
|
|||||
Total Investments at Fair Value
|
|
|
|
$
|
3,779,464
|
|
|
Thousands of Dollars
|
||||
|
2016
|
|
2015
|
|
|
|
|
|
|||
Net assets available for benefits as reported in the financial statements
|
$
|
4,637,915
|
|
4,342,109
|
|
Adjustment from contract value to fair value for fully benefit-responsive
investment contracts
|
3,260
|
|
3,694
|
|
|
Deemed distributions of participant loans
|
(1,263
|
)
|
(1,335
|
)
|
|
Net assets available for benefits as reported in the Form 5500
|
$
|
4,639,912
|
|
4,344,468
|
|
|
Thousands of Dollars
|
|
|
|
2016
|
|
|
|
|
||
Net increase as reported in the financial statements
|
$
|
295,806
|
|
Adjustment from contract value to fair value for fully benefit-responsive
investment contracts at December 31, 2016
|
3,260
|
|
|
Reverse adjustment from contract value to fair value for certain fully
benefit-responsive investment contracts at December 31, 2015
|
(3,694
|
)
|
|
Deemed distributions of participant loans at the beginning of the year
|
1,335
|
|
|
Deemed distributions of participant loans at end of the year
|
(1,263
|
)
|
|
Net income as reported in the Form 5500
|
$
|
295,444
|
|
Schedule H, Line 4i
|
|
Phillips 66 Savings Plan
|
Schedule of Assets (Held at End of Year)
|
|
EIN 37-1652702, Plan 002
|
At December 31, 2016
|
|
|
|
|
|
|
||
|
|
|
Thousands of Dollars
|
|||||
(a) (b)
|
(c)
|
|
(d)
|
|
(e)
|
|||
Identity of issue borrower, lessor
Current or similar party
|
Description of investment including maturity date,
rate of interest, collateral, par or maturity value
|
|
Historical Cost
|
|
Value
|
|||
* Phillips 66
|
Stock Fund
|
|
$
|
**
|
|
$
|
1,216,564
|
|
* Phillips 66
|
Leveraged Stock Fund
|
|
|
**
|
|
131,811
|
|
|
ConocoPhillips
|
Stock Fund
|
|
|
**
|
|
365,085
|
|
|
ConocoPhillips
|
Leveraged Stock Fund
|
|
|
**
|
|
139,228
|
|
|
DuPont
|
Stock Fund
|
|
|
**
|
|
5,713
|
|
|
IGT Invesco Short-Term Bond Fund
|
Short-Term Bond
|
|
|
**
|
|
172,826
|
|
|
IGT BlackRock Intermediate Gov/
Credit
|
Multi-Mgr. Intermediate Government
|
|
|
**
|
|
28,999
|
|
|
IGT Invesco Intermediate Gov/Credit Fund
|
Multi-Mgr. Intermediate Government
|
|
|
**
|
|
49,538
|
|
|
IGT PIMCO Intermediate Gov/Credit Fund
|
Multi-Mgr. Intermediate Government
|
|
|
**
|
|
36,549
|
|
|
IGT Jennison Intermediate Gov/Credit Fund
|
Multi-Mgr. Intermediate Government
|
|
|
**
|
|
13,645
|
|
|
IGT Jennison 1-5 Year Government Credit Fund
|
Multi-Mgr. Intermediate Government
|
|
|
**
|
|
33,958
|
|
|
IGT BlackRock Core Fixed Income
Fund
|
Multi-Mgr. Core Fixed Income Fund
|
|
|
**
|
|
8,314
|
|
|
IGT Goldman Sachs Core
|
Multi-Mgr. Core Fixed Income Fund
|
|
|
**
|
|
8,311
|
|
|
IGT Invesco Core Fixed Income Fund
|
Multi-Mgr. Core Fixed Income Fund
|
|
|
**
|
|
11,645
|
|
|
IGT PIMCO Core Fixed Income Fund
|
Multi-Mgr. Core Fixed Income Fund
|
|
|
**
|
|
11,679
|
|
|
IGT MassMutual SA Core Babson
|
MassMutual
|
|
|
**
|
|
30,746
|
|
|
IGT MassMutual SA Intermediate Gov/Credit Babson Fund
|
MassMutual
|
|
|
**
|
|
30,970
|
|
|
MassMutual SA SB34 1-5 Gov/Credit
|
MassMutual
|
|
|
**
|
|
6,938
|
|
|
Monumental Individual Asset Wraps
|
Insurance Wrapper
|
|
|
**
|
|
(3,260
|
)
|
|
* State Street
|
Short-Term Investment Fund
|
|
|
**
|
|
22,727
|
|
|
DFA Investment
|
DFA Emerging Markets Core Equity, Inst
|
|
|
**
|
|
7,266
|
|
|
Goldman Sachs Core
|
Goldman Sachs Core Plus Fixed Income
Collective Trust
|
|
|
**
|
|
5,499
|
|
|
Natixis Funds
|
Natixis Vaughan Nelson Value Opp Fund; class N
|
|
|
**
|
|
5,269
|
|
Schedule H, Line 4i
|
|
Phillips 66 Savings Plan
|
Schedule of Assets (Held at End of Year)
|
|
EIN 37-1652702, Plan 002
|
At December 31, 2016
|
|
|
|
|
|
|
||
|
|
|
Thousands of Dollars
|
|||||
(a) (b)
|
(c)
|
|
(d)
|
|
(e)
|
|||
Identity of issue borrower, lessor
Current or similar party
|
Description of investment including maturity date,
rate of interest, collateral, par or maturity value
|
|
Historical Cost
|
|
Value
|
|||
* The Vanguard Group
|
Vanguard Extended Market Index Fund Inst Plus
|
|
$
|
**
|
|
$
|
207,777
|
|
|
Vanguard Infla-Protected Sec Inst
|
|
|
**
|
|
36,853
|
|
|
|
Vanguard Inst Index Fund Inst Plus
|
|
|
**
|
|
284,567
|
|
|
|
Vanguard International Growth Fund Admiral
|
|
|
**
|
|
44,635
|
|
|
|
Vanguard International Value Fund
|
|
|
**
|
|
33,313
|
|
|
|
Vanguard PRIMECAP Fund Admiral
|
|
|
**
|
|
256,694
|
|
|
|
Vanguard Federal Money Market Fund
|
|
|
**
|
|
108,085
|
|
|
|
Vanguard Target Retirement 2010 Trust
|
|
|
**
|
|
12,040
|
|
|
|
Vanguard Target Retirement 2015 Trust
|
|
|
**
|
|
56,100
|
|
|
|
Vanguard Target Retirement 2020 Trust
|
|
|
**
|
|
141,687
|
|
|
|
Vanguard Target Retirement 2025 Trust
|
|
|
**
|
|
149,610
|
|
|
|
Vanguard Target Retirement 2030 Trust
|
|
|
**
|
|
77,622
|
|
|
|
Vanguard Target Retirement 2035 Trust
|
|
|
**
|
|
63,878
|
|
|
|
Vanguard Target Retirement 2040 Trust
|
|
|
**
|
|
51,663
|
|
|
|
Vanguard Target Retirement 2045 Trust
|
|
|
**
|
|
52,862
|
|
|
|
Vanguard Target Retirement 2050 Trust
|
|
|
**
|
|
44,966
|
|
|
|
Vanguard Target Retirement 2055 Trust
|
|
|
**
|
|
29,199
|
|
|
|
Vanguard Target Retirement 2060 Trust
|
|
|
**
|
|
4,886
|
|
|
|
Vanguard Target Retirement Income Trust
|
|
|
**
|
|
14,609
|
|
|
|
Vanguard Total Bond Market Index Fund Inst Plus
|
|
|
**
|
|
185,901
|
|
|
|
Vanguard Total International Stock Index Fund Inst Plus
|
|
|
**
|
|
104,412
|
|
|
|
Vanguard Total Stock Market Index Fund Inst
|
|
|
**
|
|
111,211
|
|
|
|
Vanguard Windsor II Fund Admiral
|
|
|
**
|
|
78,584
|
|
|
* Jackson Square
|
Abiomed Inc Common Stk
|
|
|
**
|
|
1,663
|
|
|
|
Affiliated Managers Group Inc Common Stk
|
|
|
**
|
|
1,455
|
|
|
|
Arista Networks Inc Common Stk
|
|
|
**
|
|
796
|
|
|
|
Athenahealth Inc Common Stk
|
|
|
**
|
|
825
|
|
|
|
Bio-Techne Corp Common Stk
|
|
|
**
|
|
2,395
|
|
|
|
Blackbaud Inc Common Stk
|
|
|
**
|
|
2,497
|
|
|
|
Core Laboratories Common Stk
|
|
|
**
|
|
1,498
|
|
|
|
Dineequity Inc Common Stk
|
|
|
**
|
|
2,020
|
|
Schedule H, Line 4i
|
|
Phillips 66 Savings Plan
|
Schedule of Assets (Held at End of Year)
|
|
EIN 37-1652702, Plan 002
|
At December 31, 2016
|
|
|
|
|
|
|
||
|
|
|
Thousands of Dollars
|
|||||
(a) (b)
|
(c)
|
|
(d)
|
|
(e)
|
|||
Identity of issue borrower, lessor
Current or similar party
|
Description of investment including maturity date,
rate of interest, collateral, par or maturity value
|
|
Historical Cost
|
|
Value
|
|||
|
Dunkin Brands Group Inc Common Stk
|
|
$
|
**
|
|
$
|
2,298
|
|
|
Ellie Mae Inc Common Stk
|
|
|
**
|
|
573
|
|
|
|
Equity Commonwealth Common Stk
|
|
|
**
|
|
2,939
|
|
|
|
Expeditors Intl Wash Inc Common Stk
|
|
|
**
|
|
1,386
|
|
|
|
Graco Inc Common Stk
|
|
|
**
|
|
2,084
|
|
|
|
J2 Global Inc Common Stk
|
|
|
**
|
|
2,687
|
|
|
|
Lendingclub Corp Common Stk
|
|
|
**
|
|
801
|
|
|
|
Lendingtree Inc Common Stk
|
|
|
**
|
|
1,322
|
|
|
|
Liberty Tripadvisor Hldgs Inc Common Stk
|
|
|
**
|
|
1,822
|
|
|
|
Logitech International Sa Common Stk
|
|
|
**
|
|
2,331
|
|
|
|
MSCI Inc Common Stk
|
|
|
**
|
|
1,536
|
|
|
|
Nic Inc Common Stk
|
|
|
**
|
|
821
|
|
|
|
Outfront Media Inc Common Stk
|
|
|
**
|
|
1,989
|
|
|
|
Pandora Media Inc Common Stk
|
|
|
**
|
|
1,693
|
|
|
|
Paycom Software Inc Common Stk
|
|
|
**
|
|
1,100
|
|
|
|
Quotient Technology Inc Common Stk
|
|
|
**
|
|
522
|
|
|
|
Sally Beauty Hldgs Inc Common Stk
|
|
|
**
|
|
2,754
|
|
|
|
Shutterstock Inc Common Stk
|
|
|
**
|
|
988
|
|
|
|
Verifone Systems Inc Common Stk
|
|
|
**
|
|
1,388
|
|
|
|
Wisdomtree Investment Inc Common Stk
|
|
|
**
|
|
848
|
|
|
|
Yelp Inc Common Stk
|
|
|
**
|
|
1,268
|
|
|
|
Zebra Technologies Corp Common Stk
|
|
|
**
|
|
2,462
|
|
|
|
Cash and Cash Equivalents
|
|
|
**
|
|
2,587
|
|
|
* Participants
|
Loans to Plan Participants,
Interest rates ranging from 2.91% to 9.50% |
|
|
**
|
|
80,866
|
|
|
|
|
|
|
|
|
$
|
4,623,388
|
|
* Party-in-interest
|
|
|
|
|
|
|
||
** Historical cost information is not required for participant-directed investments.
|
|
|
Exhibit Index
|
|
Phillips 66 Savings Plan
|
|
|
EIN 37-1652702, Plan 002
|
Exhibit Number
|
Description
|
23.1
|
Consent of Independent Registered Public Accounting Firm
|
1 Year Phillips 66 Chart |
1 Month Phillips 66 Chart |
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