Earnings (Loss) Per Common Share from Continuing Operations (Tables)

12 Months Ended

Dec. 31, 2011

Earnings Per Common Share from Continuing Operations [Abstract]

Earnings (loss) per common share from continuing operations

		Years Ended December 31,
		2011		2010		2009
		(Dollars in millions, except per-share
		amounts; shares in thousands)
Income (loss) from continuing operations attributable to The
	Williams Companies, Inc. available to common stockholders
	for basic and diluted earnings (loss) per common share (1)	$	803	$	104	$	206
Basic weighted-average shares			588,553		584,552		581,674
Effect of dilutive securities:
	Nonvested restricted stock units		4,332		3,190		2,216
	Stock options		3,374		2,957		2,065
	Convertible debentures		1,916		-		-
Diluted weighted-average shares			598,175		590,699		585,955
Earnings (loss) per common share from continuing operations:
	Basic	$	1.36	$	.17	$	.35
	Diluted	$	1.34	$	.17	$	.35

___________

• 2011 includes$.7 million of interest expense, net of tax, associatedwith our convertible debentures. (See Note 12.) This amount has been added back to income (loss) from continuing operations attributable to The Williams Companies, Inc. available to common stockholdersto calculate diluted earnings percommon share.

Stock options excluded

	2011*	2010	2009
Options excluded (millions)	0.9	2.4	3.7
Weighted-average exercise price of options excluded	$29.68	$32.41	$30.21
Exercise price ranges of options excluded	$26.10 - $29.72	$22.68 - $40.51	$20.28 - $42.29
Fourth quarter weighted-average market price	$24.51	$22.47	$19.81

*Information related to the excluded options for 2011 has been adjusted to reflect the impact of the spin-off of WPX on December 31, 2011 (see Note 13).