Exhibit 12

The Williams Companies, Inc.
Computation of Ratio of Earnings to Fixed Charges
(Dollars in millions)

	Three months ended
	March 31, 2005
Earnings:
Income from continuing operations before income taxes	$	331.7
Minority interest in income of consolidated subsidiaries		5.2
Less: Equity earnings		(17.7	)
Income from continuing operations before income taxes, minority interest in income of consolidated subsidiaries and equity earnings		319.2
Add:
Fixed charges:
Interest accrued, including proportionate share from equity-method investees		166.2
Rental expense representative of interest factor		4.6
Total fixed charges		170.8
Distributed income of equity investees		19.3
Less:
Capitalized interest		(1.1	)
Total earnings as adjusted	$	508.2
Fixed charges	$	170.8
Ratio of earnings to fixed charges		2.98