Phillips 66 announced consolidated earnings for the fourth quarter and full year 2013. For the quarter, the company reported consolidated earnings of $826 million or $1.37 per share against $708 million or $1.11 per share a year ago. Adjusted earnings were $808 million or $1.34 per share against $1,298 million or $2.04 per share a year ago. Net cash provided by operating activities was $865 million. Excluding changes in working capital, operating cash flow from continuing operations was $1.3 billion. The company funded $1.8 billion in capital expenditures and investments and repaid the outstanding $1.0 billion of its amortizing three-year term loan. Total revenue was $43,843 million compared to $44,616 million a year ago.
Income before income taxes was $1,211 million compared to $1,195 million a year ago. Income from continuing operations was $815 million compared to $696 million a year ago. Net income attributable to company was $826 million or $1.37 per diluted share compared to $708 million or $1.11 per diluted share a year ago.

For the year, the company reported consolidated earnings of $3,726 million or $6.02 per share against $4,124 million or $6.48 per share a year ago. Adjusted earnings were $3,643 million or $5.89 per share against $5,339 million or $8.38 per share a year ago. Net cash provided by operating activities was $5,942 million. Excluding changes in working capital, operating cash flow from continuing operations was $5.1 billion. Total revenue was $174,809 million compared to $182,752 million a year ago. Income before income taxes was $5,526 million compared to $6,556 million a year ago. Income from continuing operations was $3,682 million compared to $4,083 million a year ago. Net income attributable to company was $3,726 million or $6.02 per diluted share compared to $4,124 million or $6.48 per diluted share a year ago. Net cash used provided by operating activities was $6,027 million compared to $4,296 million a year ago. Capital expenditures and investments was $1,779 million compared to $1,701 million a year ago.