Phillips 66 announced consolidated earnings results for the fourth quarter and full year of 2014. For the quarter, the company reported earnings was $1,147 million against $826 million a year ago. Adjusted earnings were $913 million against $808 million a year ago. Earnings per share of common stock were $2.05 against $1.37 a year ago. Adjusted earnings per share of common stock were $1.63 against $1.34 a year ago. Net cash provided by operating activities, excluding working capital was $1,080 million and net cash provided by operating activities was $872 million.

For the full year, the company reported earnings was $4,762 million against $3,726 million a year ago. Adjusted earnings were $3,782 million against $3,643 million a year ago. Earnings per share of common stock were $8.33 against $6.02 a year ago. Adjusted earnings per share of common stock were $6.62 against $5.89 a year ago. Net cash provided by operating activities, excluding working capital was $4,549 million and net cash provided by operating activities was $3,529 million. The company generated $3.5 billion in cash from operations during 2014. Excluding changes in working capital, operating cash flow was $4.5 billion. The company ended the year with $8.7 billion of debt and $5.2 billion of cash and cash equivalents. Adjusted ROCE earnings were $3,990 million.

For the fourth quarter of 2014, the company reported impairments were $131 million.