Item 6. SELECTED FINANCIAL DATA

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Item 6. SELECTED FINANCIAL DATA

For periods prior to the Separation, the following selected financial data consisted of the combined operations of the downstream businesses of ConocoPhillips. All financial information presented for periods after the Separation represents the consolidated results of operations, financial position and cash flows of Phillips 66. Accordingly:


•	The selected income statement data for the years ended December 31, 2015, 2014 and 2013, consist entirely of the consolidated results of Phillips 66. The selected income statement data for the year ended December 31, 2012, consists of the consolidated results of Phillips 66 for the eight months ended December 31, 2012, and the combined results of the downstream businesses for the four months ended April 30, 2012. The selected income statement data for the year ended December 31, 2011, consists entirely of the combined results of the downstream businesses.

•

The selected income statement data for the years ended December 31, 2015, 2014 and 2013, consist entirely of the consolidated results of Phillips 66. The selected income statement data for the year ended December 31, 2012, consists of the consolidated results of Phillips 66 for the eight months ended December 31, 2012, and the combined results of the downstream businesses for the four months ended April 30, 2012. The selected income statement data for the year ended December 31, 2011, consists entirely of the combined results of the downstream businesses.


•	The selected balance sheet data at December 31, 2015, 2014, 2013 and 2012, consist of the consolidated balances of Phillips 66, while the selected balance sheet data at December 31, 2011, consists of the combined balances of the downstream businesses.



	Millions of Dollars Except Per Share Amounts
	2015		2014	2013	2012	2011

Sales and other operating revenues	$	98,975	161,212	171,596	179,290	195,931
Income from continuing operations	4,280		4,091	3,682	4,083	4,737
Income from continuing operations attributable to Phillips 66	4,227		4,056	3,665	4,076	4,732
Per common share
Basic	7.78		7.15	5.97	6.47	7.54
Diluted	7.73		7.10	5.92	6.40	7.45
Net income	4,280		4,797	3,743	4,131	4,780
Net income attributable to Phillips 66	4,227		4,762	3,726	4,124	4,775
Per common share
Basic	7.78		8.40	6.07	6.55	7.61
Diluted	7.73		8.33	6.02	6.48	7.52
Total assets*	48,580		48,692	49,769	48,035	43,211
Long-term debt*	8,843		7,793	6,101	6,924	361
Cash dividends declared per common share	2.1800		1.8900	1.3275	0.4500	—

*Prior period amounts have been retrospectively adjusted for Accounting Standards Update No. 2015-03.

To ensure full understanding, you should read the selected financial data presented above in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and the consolidated financial statements and accompanying notes included elsewhere in this Annual Report on Form 10-K.

Index to Financial Statements

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