Exhibit 12

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

	Three months ended
	March 31, 2006
Earnings:
Income from continuing operations before income taxes	$	219.4
Minority interest in income of consolidated subsidiaries		7.1
Less: Equity earnings		(22.2	)
Income from continuing operations before income taxes, minority interest in income of consolidated subsidiaries and equity earnings		204.3
Add:
Fixed charges:
Interest accrued, including proportionate share from 50% owned investees		164.8
Rental expense representative of interest factor		4.7
Total fixed charges		169.5
Distributed income of equity-method investees		22.8
Less:
Capitalized interest		(3.0	)
Total earnings as adjusted	$	393.6
Fixed charges	$	169.5
Ratio of earnings to fixed charges		2.32