Note 6 – Other Income and Expenses

The following table presents certain gains or losses reflected in Other (income) expense – net within Costs and expenses in our Consolidated Statement of Operations:



	Years Ended December 31,
	2015		2014			2013
	(Millions)
Williams Partners
Impairment of certain assets (See Note 17)	$	145	$	52		$	—
Amortization of regulatory assets associated with asset retirement obligations	33		33			30
Contingency gain settlement (1)	—		(154		)	—
Net gain related to partial acreage dedication release	—		(12		)	—
Loss related to sale of certain assets	—		10			—
Write-off of the Eminence abandonment regulatory asset not recoverable through rates	—		(3		)	12
Insurance recoveries associated with the Eminence abandonment	—		—			(16		)
Loss associated with a producer claim	—		—			25
Williams NGL & Petchem Services
Impairment of certain assets (See Note 17)	64		—			20

________________


(1)	In November 2014, we settled a claim arising from the resolution of a contingent gain related to claims associated with the purchase of a business in a prior period. Pursuant to the settlement, we received $154 million in cash, all of which was recognized as a gain in the fourth quarter of 2014.

Geismar Incident

On June 13, 2013, an explosion and fire occurred at Williams Partners’ Geismar olefins plant. The incident rendered the facility temporarily inoperable (Geismar Incident).

In 2015, 2014, and 2013, we received $126 million, $246 million, and $50 million, respectively, of insurance recoveries related to the Geismar Incident. These amounts are reported within the Williams Partners segment and reflected as gains in Net insurance recoveries – Geismar Incident in our Consolidated Statement of Operations. Also, in 2014 and 2013, we incurred $14 million and $10 million, respectively, of covered insurable expenses in excess of our retentions (deductibles) also included in Net insurance recoveries – Geismar Incident in the Consolidated Statement of Operations and we expensed $13 million within the Williams Partners segment in 2013 of costs under our insurance deductibles reported in Operating and maintenance expenses in the Consolidated Statement of Operations.

ACMP Acquisition & Merger

Certain ACMP Acquisition and ACMP Merger costs included in Selling, general, and administrative expenses, Operating and maintenance expenses, and Interest incurred in the Consolidated Statement of Operations are as follows:


•	Selling, general, and administrative expenses includes $26 million in 2015 and $27 million in 2014 (including $16 million of ACMP Acquisition costs) primarily related to professional advisory fees associated with the ACMP Acquisition and ACMP Merger within the Williams Partners segment.


•	Selling, general, and administrative expenses includes $9 million in 2015 and $15 million in 2014 of related employee transition costs from the ACMP Merger within the Williams Partners segment and $32 million in 2015 and $10 million in 2014 of general corporate expenses associated with integration and realignment of resources within the Other segment.


•	Operating and maintenance expenses includes $12 million in 2015 and $15 million in 2014 of transition costs from the ACMP Merger within the Williams Partners segment.


•	Interest incurred includes transaction-related financing costs of $2 million in 2015 from the ACMP Merger and $9 million in 2014 from the ACMP Acquisition.

Additional Items

Certain items included in Service revenues, Product costs, Selling, general, and administrative expenses and Other income (expense) – net below Operating income (loss) in the Consolidated Statement of Operations are as follows:


•	Service revenues includes $239 million recognized in the fourth quarter of 2015 and $167 million recognized in the fourth quarter of 2014 from minimum volume commitment fees within the Williams Partners segment.


•	Product costs includes $6 million in 2015 and $27 million in 2014 of inventory adjustments within the Williams Partners segment.


•	Selling, general, and administrative expenses includes $30 million in 2015 of costs associated with our evaluation of strategic alternatives within the Other segment.


•	Selling, general, and administrative expenses includes $18 million in 2014 of project development costs related to the Bluegrass Pipeline reported within the Williams NGL & Petchem Services segment.


•	Other income (expense) – net below Operating income (loss) includes $95 million, $44 million, and $22 million for equity AFUDC for 2015, 2014, and 2013, respectively. Equity AFUDC increased during 2015 due to the increase in spending on various Transco expansion projects and Constitution.


•	Other income (expense) – net below Operating income (loss) includes a $14 million gain in 2015 resulting from the early retirement of certain debt within the Williams Partners segment.