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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.

2020 Unaudited 1Q 2Q 3Q 4Q
Sales and Other Operating Revenues 2,195 1,803    
Net Income 337 83    

Audited 2019 2018 2017
Annual Sales and Other Operating Revenues 9,333 11,310 9,064
Net Income 1,760 2,069 1,446
Total Current Assets 2,554 2,820 2,944
Total Assets 16,868 16,610 16,767
Total Current Liabilities 1,247 1,281 1,439
Total Liabilities 4,421 4,173 4,371
Total Members' Equity 12,447 12,437 12,396
Debt-to-Capital Ratio 16% 16% 16%

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

2020 Period Targeted Date
​9 months November 6, 2020​ ​
​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 BBB+
​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.