Consolidated Balance Sheet - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Assets
Cash and cash equivalents	$ 286	$ 1
Accounts receivable—related parties	101	90
Accounts receivable—third parties	4	5
Materials and supplies	13	13
Prepaid expenses and other current assets	10	20
Total current assets	414	129
Equity investments	2,961	2,448
Net properties, plants and equipment	3,349	3,052
Goodwill	185	185
Other assets	52	5
Total Assets	6,961	5,819
Liabilities
Accounts payable—related parties	19	22
Accounts payable—third parties	84	88
Accrued interest	42	36
Deferred revenues	16	60
Short-term debt	25	50
Accrued property and other taxes	10	9
Other current liabilities	3	5
Total current liabilities	199	270
Long-term debt	3,491	2,998
Obligation from equity interest transfer	343	0
Other liabilities	94	42
Total Liabilities	4,127	3,310
Equity
General partner—Phillips 66 (2019—0 units issued and outstanding; 2018—2,480,051 units issued and outstanding)	0	(1,313)
Accumulated other comprehensive loss	(1)	(1)
Total Equity	2,834	2,509
Total Liabilities and Equity	6,961	5,819
Public | Preferred Unitholders Public
Equity
Preferred unitholders (2019 and 2018—13,819,791 units issued and outstanding)	746	746
Total Equity	746	746
Public | Common Units
Equity
Common unitholders	2,717	2,485
Total Equity	2,717	2,485
Non-public | Common Units | Phillips 66
Equity
Common unitholders	(628)	592
Total Equity	$ (628)	$ 592