Phillips 66 Comments on Letter from Elliott Investment Management - Seite 2

^{Use of Non-GAAP Financial Information — References in this news release to shareholder distributions refers to the sum of dividends paid to Phillips 66 stockholders and proceeds used by Phillips 66 to repurchase shares of its common stock. This news release also includes the term “mid-cycle adjusted EBITDA,” which is a non-GAAP financial measure. Mid-cycle adjusted EBITDA, as used in this release, is a forward-looking non-GAAP financial measure. EBITDA is defined as estimated net income plus estimated net interest expense, income taxes, depreciation and amortization. Adjusted EBITDA is defined as estimated EBITDA plus the proportional share of selected equity affiliates’ estimated net interest expense, income taxes, depreciation and amortization less the portion of estimated adjusted EBITDA attributable to noncontrolling interests. Net income is the most directly comparable GAAP financial measure for the consolidated company. Mid-cycle adjusted EBITDA is defined as the average adjusted EBITDA generated over a complete economic cycle. Mid-cycle adjusted EBITDA estimates depend on future levels of revenues and expenses, including amounts that will be attributable to noncontrolling interests, which are not reasonably estimable at this time. Accordingly, we cannot provide a reconciliation between projected mid-cycle adjusted EBITDA to consolidated net income without unreasonable effort.}

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The Phillips 66 Stock at the time of publication of the news with a raise of +3,58 % to 122,2USD on NYSE stock exchange (29. November 2023, 23:05 Uhr).