Phillips 66 announced consolidated earnings for the fourth quarter and year of 2012. For the quarter, the company reported consolidated earnings of $708 million or $1.11 per share against $2,011 million or $3.17 per share a year ago. Adjusted earnings were $1,312 million or $2.06 per share against $379 million or $0.60 per share a year ago. Net cash provided by operating activities was $1,305 million. Excluding working capital, operating cash flow was $1.7 billion. Capital expenditures and investments were $900 million.

For the year, the company reported consolidated earnings of $4,124 million or $6.48 per share against $4,775 million or $7.52 per share a year ago. Adjusted earnings were $5,387 million or $8.46 per share against $3,591 million or $5.66 per share a year ago. Net cash provided by operating activities was $4,296 million. Excluding working capital, operating cash flow was $5.5 billion.

As for the company's effective tax rate, the company expects the tax rate to be in the low to 30s for the first quarter of 2013.