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Consolidated Statement of Income - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues:        
Revenues $ 2,336 $ 2,483 $ 5,107 $ 5,564
Costs and expenses:        
Operating and maintenance expenses 522 481 1,033 944
Depreciation and amortization expenses 540 515 1,088 1,021
Selling, general, and administrative expenses 164 161 350 337
Other (income) expense – net (27) (9) (44) (40)
Total costs and expenses 1,640 1,613 3,399 3,334
Operating income (loss) 696 870 1,708 2,230
Equity earnings (losses) 147 160 284 307
Other investing income (loss) – net 18 13 42 21
Interest expense (339) (306) (688) (600)
Other income (expense) – net 33 19 64 39
Income (loss) before income taxes 555 756 1,410 1,997
Less: Provision (benefit) for income taxes 129 175 322 459
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest 426 581 1,088 1,538
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest 0 (87) 0 (87)
Net income (loss) 426 494 1,088 1,451
Less: Net income (loss) attributable to noncontrolling interests 25 34 55 64
Net income (loss) attributable to The Williams Companies, Inc. 401 460 1,033 1,387
Less: Preferred stock dividends 0 0 1 1
Net income (loss) available to common stockholders 401 460 1,032 1,386
Amounts attributable to The Williams Companies, Inc. available to common stockholders:        
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent $ 401 $ 547 $ 1,032 $ 1,473
Basic earnings (loss) per common share:        
Income (Loss) from Continuing Operations, Per Basic Share $ 0.33 $ 0.45 $ 0.85 $ 1.21
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share 0 (0.07) 0 (0.07)
Net income (loss) $ 0.33 $ 0.38 $ 0.85 $ 1.14
Weighted-average shares (thousands) 1,219,367 1,217,673 1,218,761 1,218,564
Diluted earnings (loss) per common share:        
Income (Loss) from Continuing Operations, Per Diluted Share $ 0.33 $ 0.45 $ 0.84 $ 1.20
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share 0 (0.07) 0 (0.07)
Net income (loss) $ 0.33 $ 0.38 $ 0.84 $ 1.13
Weighted-average shares (thousands) 1,222,236 1,219,915 1,222,229 1,223,429
Service [Member]        
Revenues:        
Revenues $ 1,837 $ 1,748 $ 3,742 $ 3,442
NonRegulated Service Commodity Consideration [Member]        
Revenues:        
Revenues 18 27 48 63
Product [Member]        
Revenues:        
Revenues 610 593 1,455 1,438
Energy Commodities and Service        
Revenues:        
Revenues [1] (129) 115 (138) 621
Oil and Gas, Purchased [Member]        
Costs and expenses:        
Cost of Goods and Service, Excluding Depreciation, Depletion, and Amortization 424 421 950 974
Natural Gas Purchased For Shrink [Member]        
Costs and expenses:        
Cost of Goods and Service, Excluding Depreciation, Depletion, and Amortization $ 17 $ 44 $ 22 $ 98
[1] We record transactions that qualify as commodity derivatives at fair value with changes in fair value recognized in earnings in the period of change and characterized as unrealized gains or losses. Gains and losses from commodity derivatives held for energy trading purposes are presented on a net basis in revenue.