What is Phillips 66 Partners LP Accounts Receivable?
Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Phillips 66 Partners LP's accounts receivables for the quarter that ended in Dec. 2021 was $126 Mil.
Accounts receivable can be measured by Days Sales Outstanding.
Phillips 66 Partners LP's Days Sales Outstanding for the quarter that ended in Dec. 2021 was 34.74.
In Ben Graham's calculation of Net-Net Working Capital, accounts receivable are only considered to be worth 75% of book value. Phillips 66 Partners LP's Net-Net Working Capital per share for the quarter that ended in Dec. 2021 was $-18.73.
Phillips 66 Partners LP Accounts Receivable Historical Data
The historical data trend for Phillips 66 Partners LP's Accounts Receivable can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
1. Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Days Sales Outstanding measures of the average number of days that a company takes to collect revenue after a sale has been made. It is a financial ratio that illustrates how well a company's accounts receivables are being managed.
Phillips 66 Partners LP's Days Sales Outstanding for the quarter that ended in Dec. 2021 is calculated as:
2. In Ben Graham's calculation of Net-Net Working Capital (NNWC), Phillips 66 Partners LP's accounts receivable are only considered to be worth 75% of book value:
Phillips 66 Partners LP's Net-Net Working Capital Per Share for the quarter that ended in Dec. 2021 is calculated as:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Be Aware
Net receivables tells us a great deal about the different competitors in the same industry. In competitive industries, some attempt to gain advantage by offering better credit terms, causing increase in sales and receivables.
If company consistently shows lower % Net receivables to gross sales than competitors, then it usually has some kind of competitive advantage which requires further digging.
Average Days Sales Outstanding is a good indicator for measuring a company's sales channel and customers. A company may book great revenue and earnings growth but never receive payment from their customers. This may force a write-off in the future and depress future earnings.
Phillips 66 Partners LP Accounts Receivable Related Terms
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Phillips 66 Partners LP (Phillips 66 Partners LP) Business Description
Phillips 66 Partners is a master limited partnership that provides fee-based transportation, processing, storage, and fractionation services primarily to Phillips 66, which owns a 74% limited partner interest. Phillips 66 Partners' primary revenue sources are long-term, fee-based contracts to handle crude, natural gas liquids, and refined products. Phillips 66 manages and operates Phillips 66 Partners as its noneconomic general partner. Phillips 66's general partner economic interest and incentive distribution rights were eliminated in August 2019.
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