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Financials

Chevron Phillips Chemical operates manufacturing facilities in Belgium, Colombia, Qatar, Saudi Arabia, Singapore and the United States.

Chevron Phillips Chemical does not make our financial statements available to the general public, but a summary of our financial performance is provided below.


Ownership

Through subsidiaries and equity affiliates, we manufacture and market a wide range of petrochemicals on a worldwide basis. We operate manufacturing facilities in Belgium, Colombia, Qatar, Saudi Arabia, Singapore and the United States. We are a limited liability company formed in 2000 under Delaware law, and we are owned 50 percent by Chevron U.S.A. Inc. (Chevron), an indirect wholly owned subsidiary of Chevron Corporation, and 50 percent by Phillips 66 Company (P66Co), a wholly owned subsidiary of Phillips 66.


Board of Directors

We are governed by our Board of Directors (the Board) under the terms of a limited liability company agreement. Chevron and P66Co each appoint three voting representatives, and Chevron Phillips Chemical’s chief executive officer and chief financial officer are non-voting representatives. Certain major decisions and actions require the approval of the Board. All decisions and actions of the Board require the approval of at least one representative from each of Chevron and P66Co.


Financial Performance

Selected financial data follows, expressed in millions of dollars.

2022 Unaudited 1Q 2Q 3Q 4Q
Sales and Other Operating Revenues 3,795 4,023 3,628  
Net Income 764 544 257  

Audited 2021 2020 2019
Annual Sales and Other Operating Revenues 14,104 8,407 9,333
Net Income 3,684 1,260 1,760
Total Current Assets 3,381 2,816 2,554
Total Assets 17,777 17,026 16,868
Total Current Liabilities 1,854 1,394 1,247
Total Liabilities 5,014 4,774 4,421
Total Members' Equity 12,763 12,252 12,447
Debt-to-Capital Ratio 16% 16% 16%

Selected financial data will be updated quarterly on the following dates, which are subject to change:

2022 Period Targeted Date
12 months TBD

Chevron Phillips Chemical has received debt ratings from Standard & Poor’s Ratings Services (Standard & Poor’s) and Moody’s Investors Service, Inc. (Moody’s) as follows:

Company Commercial Paper Long-Term Debt
​Standard & Poor’s A-2 A-
​Moody’s P-1 A2

General information concerning Chevron Phillips Chemical is available through Dun & Bradstreet under DUNS number 03-891-2866. Further questions can be addressed to the Treasurer at +1-832-813-4114 or by email at: @email.