filings.toolsItem 6. SELECTED FINANCIAL DATA
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Item 6. SELECTED FINANCIAL DATA
| Millions of Dollars Except Per Share Amounts | |||||||||||||||
| 2018 | 2017 | 2016 | 2015 | 2014 | |||||||||||
| Sales and other operating revenues* | $ | 111,461 | 102,354 | 84,279 | 98,975 | 161,212 | |||||||||
| Income from continuing operations | 5,873 | 5,248 | 1,644 | 4,280 | 4,091 | ||||||||||
| Income from continuing operations attributable to Phillips 66 | 5,595 | 5,106 | 1,555 | 4,227 | 4,056 | ||||||||||
| Per common share | |||||||||||||||
| Basic | 11.87 | 9.90 | 2.94 | 7.78 | 7.15 | ||||||||||
| Diluted | 11.80 | 9.85 | 2.92 | 7.73 | 7.10 | ||||||||||
| Net income | 5,873 | 5,248 | 1,644 | 4,280 | 4,797 | ||||||||||
| Net income attributable to Phillips 66 | 5,595 | 5,106 | 1,555 | 4,227 | 4,762 | ||||||||||
| Per common share | |||||||||||||||
| Basic | 11.87 | 9.90 | 2.94 | 7.78 | 8.40 | ||||||||||
| Diluted | 11.80 | 9.85 | 2.92 | 7.73 | 8.33 | ||||||||||
| Total assets | 54,302 | 54,371 | 51,653 | 48,580 | 48,692 | ||||||||||
| Long-term debt | 11,093 | 10,069 | 9,588 | 8,843 | 7,793 | ||||||||||
| Cash dividends declared per common share | 3.10 | 2.73 | 2.45 | 2.18 | 1.89 |
- Sales and other operating revenues for the years ended December 31, 2014 through 2017, are presented in accordance with accounting standards in effect prior to our adoption of ASU No. 2014-09 on January 1, 2018. See Note 2—Changes in Accounting Principles, in the Notes to Consolidated Financial Statements, for further discussion regarding our adoption of ASU No. 2014-09.
In December 2013, we entered into an agreement to exchange the stock of Phillips Specialty Products Inc. (PSPI), a flow improver business, which was included in our Marketing and Specialties segment, for shares of Phillips 66 common stock owned by the other party. The PSPI share exchange was completed in February 2014. Accordingly, the selected income from continuing operations data above for the year ended December 31, 2014, excludes income from PSPI’s discontinued operations of $706 million.
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.
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