Matthew Setter demonstrates PhpStorm's handy refactorings. Personally I use "extracting code to a new method" quite a lot.

Refactoring covers a range of different techniques, including moving, extracting, copying, deleting, and renaming. These cover all the types of changes which you are likely to make to your code on an ongoing basis. Gladly, PhpStorm’s refactoring functionality, which is included as part of the core package, has support for all of these. In this tutorial, I’m going to step through a couple of them; specifically: - Extracting code to a new method - Renaming a function - Changing a function's signature