Schedule I Condensed Financial Information Of Parent Company Only

12 Months Ended

Dec. 31, 2011

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Financial Information of Parent Company Only Disclosure [Text Block]

THE WILLIAMS COMPANIES, INC.
SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT
STATEMENT OF OPERATIONS (PARENT)
			Years Ended December 31,
			2011		2010		2009
				(Millions)
Equity in earnings of consolidated subsidiaries			$	1,962	$	1,457	$	948
Interest accrued - external				(186)		(235)		(448)
Interest accrued - affiliate				(622)		(460)		(367)
Interest income - affiliate				84		76		285
Early debt retirement costs				(271)		(606)		(1)
Other income (expense) — net				(45)		(41)		(11)
Income from continuing operations before income taxes				922		191		406
Provision for income taxes				119		87		200
Income (loss) from continuing operations				803		104		206
Income (loss) from discontinued operations				(427)		(1,201)		79
	Net income (loss)		$	376	$	(1,097)	$	285
Basic earnings (loss) per common share:
	Income (loss) from continuing operations		$	1.36	$	0.17	$	.35
	Income (loss) from discontinued operations			(.72)		(2.05)		.14
		Net income (loss)	$	.64	$	(1.88)	$	.49
	Weighted-average shares (thousands)			588,553		584,552		581,674
Diluted earnings (loss) per share common share:
	Income (loss) from continuing operations		$	1.34	$	.17	$	.35
	Income (loss) from discontinued operations			(.71)		(2.03)		.14
		Net income (loss)	$	.63	$	(1.86)	$	.49
	Weighted-average shares (thousands)			598,175		590,699		585,955

THE WILLIAMS COMPANIES, INC.
SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT - (Continued)
BALANCE SHEET (PARENT)
					December 31,		December 31,
					2011		2010
ASSETS					(Millions)
Current assets:
	Cash and cash equivalents			$	292	$	102
	Other current assets				128		18
			Total current assets		420		120
Investments in and advances to consolidated subsidiaries					13,602		20,815
Property, plant, and equipment - net					61		62
Other noncurrent assets					142		58
			Total assets	$	14,225	$	21,055
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
	Accounts payable and accrued liabilities			$	143	$	292
	Long-term debt due within one year				28		49
	Other current liabilities				58		40
			Total current liabilities		229		381
Long-term debt					1,456		2,235
Notes payable - affiliates					8,418		9,008
Pension, other post-retirement and other liabilities					732		460
Deferred income taxes					1,597		1,683
Contingent liabilities and commitments
Equity:
	Common stock				626		620
	Other stockholders' equity				1,167		6,668
		Total stockholders' equity			1,793		7,288
			Total liabilities and stockholders' equity	$	14,225	$	21,055

THE WILLIAMS COMPANIES, INC.
SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT - (Continued)
STATEMENT OF CASH FLOWS (PARENT)
			Years Ended December 31,
				2011		2010		2009
			(Millions)
NET CASH FLOWS PROVIDED (USED) BY OPERATING ACTIVITIES			$	(286)	$	3,371	$	(159)
FINANCING ACTIVITIES:
	Proceeds from long-term debt			75		100		595
	Payments of long-term debt			(871)		(3,102)		(15)
	Changes in notes payable to affiliate			(590)		1,422		227
	Tax benefit of stock-based awards			22		7		1
	Premiums paid on early debt retirement			(254)		(574)		-
	Proceeds from issuance of common stock			49		12		6
	Dividends paid			(457)		(284)		(256)
	Other — net			(5)		(12)		(1)
		Net cash provided (used) by financing activities		(2,031)		(2,431)		557
INVESTING ACTIVITIES:
	Capital expenditures			(28)		(15)		(14)
	Changes in investments in and advances to consolidated subsidiaries			2,553		(2,054)		(1)
	Other — net			(18)		-		1
		Net cash provided (used) by investing activities		2,507		(2,069)		(14)
Increase (decrease) in cash and cash equivalents				190		(1,129)		384
Cash and cash equivalents at beginning of period				102		1,231		847
Cash and cash equivalents at end of period			$	292	$	102	$	1,231

Note 1. Guarantees

In addition to the guarantees disclosed in the accompanying consolidated financial statements in Item 8, we have financially guaranteed the performance of certain consolidated subsidiaries. The duration of these guarantees varies and we estimate the maximum undiscounted potential future payment obligation related to these guarantees as of December 31, 2011, is approximately $233 million. We estimate that the fair value of these guarantees is not material.

Note 2. Cash Dividends Received

We receive dividends and distributions either directly from our subsidiaries or indirectly through dividends received by subsidiaries and subsequent transfers of cash to us through our corporate cash management system. The total of such receipts ultimately related to dividends and distributions for the years ended December 31, 2011, 2010 and 2009 was approximately $1.2 billion, $5.0billion, and $635 million, respectively.