Investing Activites (Tables)

12 Months Ended

Dec. 31, 2010

Investing Activities (Tables) [Abstract]

Investing income

	Years Ended December 31,
	2010		2009			2008
	(Millions)
Equity earnings*	$	163	$	136		$	137
Income (loss) from investments*		43		(75	)		1
Impairment of cost-based investments		—		(22	)		(4	)
Interest income and other		3		7			55
Total investing income	$	209	$	46		$	189

* Items also included in segment profit (loss). (See Note 18.)

Investments

	December 31,
	2010		2009
	(Millions)
Equity method:
Overland Pass Pipeline Company LLC — 50%	$	429	$	—
Gulfstream — 50%(1)		378		383
Discovery Producer Services LLC — 60%(2)		181		189
Laurel Mountain Midstream, LLC — 51%(2)		170		133
Petrolera Entre Lomas S.A. — 40.8%		81		81
Other		103		98
		1,342		884
Cost method		2		2
	$	1,344	$	886

(1)	As of December 31, 2010, 24.5 percent interest is held within Williams Partners, with the remaining 25.5 percent held within Other.
(2)	We account for these investments under the equity method due to the significant participatory rights of our partners such that we do not control the investments.

Dividends and distributions

	Years Ended December 31,
	2010		2009		2008
	(Millions)
Gulfstream	$	81	$	223	$	58
Discovery Producer Services LLC		44		32		56
Aux Sable Liquid Products LP		28		15		28

Summarized Financial Position and Results of Operations of Equity Method Investments

	December 31,
	2010		2009
	(Millions)
Current assets	$	321	$	383
Noncurrent assets		4,421		3,723
Current liabilities		229		266
Noncurrent liabilities		1,409		1,511

	Years Ended December 31,
	2010		2009		2008
	(Millions)
Gross revenue	$	1,362	$	1,115	$	1,246
Operating income		699		516		521
Net income		508		396		405