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Earnings (Loss) Per Share
 3 Months Ended
Mar. 31, 2020
Earnings Per Share [Abstract]  
Earnings (Loss) Per Share Earnings (Loss) Per Share

The numerator of basic earnings (loss) per share (EPS) is net income (loss) attributable to Phillips 66, reduced by 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 (loss) attributable to Phillips 66, which is reduced only by dividend equivalents paid on participating securities for which the dividends are more dilutive than the participation of the awards in the earnings (losses) 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
 
2020
 
2019
 
Basic

Diluted

 
Basic

Diluted

Amounts Attributed to Phillips 66 Common Stockholders (millions):
 
 
 
 
 
Net income (loss) attributable to Phillips 66
$
(2,496
)
(2,496
)
 
204

204

Income allocated to participating securities
(1
)
(1
)
 
(1
)
(1
)
Net income (loss) available to common stockholders
$
(2,497
)
(2,497
)

203

203

 
 
 
 
 
 
Weighted-average common shares outstanding (thousands):
439,014

441,345

 
454,886

457,599

Effect of share-based compensation
2,331

—

 
2,713

1,690

Weighted-average common shares outstanding—EPS
441,345

441,345

 
457,599

459,289

 
 
 
 
 
 
Earnings (Loss) Per Share of Common Stock (dollars)
$
(5.66
)
(5.66
)
 
0.44

0.44