Other Income and Expenses

3 Months Ended

Mar. 31, 2018

Other Income and Expenses [Abstract]

Other Income and Expenses [Text Block]

Note 5 – Other Income and Expenses

The following table presents certain gains or losses reflected in Other (income) expense – net within Costs and expenses in our Consolidated Statement of Income:

	Three Months Ended   March 31,
	2018		2017
	(Millions)
Williams Partners
Gains on contract settlements and terminations	$	—	$	(13	)

Additional Items

Certain additional items included in the Consolidated Statement of Income are as follows:

• Other income (expense) – net below Operating income (loss) includes income of $20 million and $18 million for the three months ended March 31, 2018 and 2017, respectively, for allowance for equity funds used during construction primarily within the Williams Partners segment. Other income (expense) – net below Operating income (loss) also includes income of $5 million and $28 million for the three months ended March 31, 2018 and 2017, respectively of income associated with a regulatory asset related to deferred taxes on equity funds used during construction.

• Other income (expense) – net below Operating income (loss) for the three months ended March 31, 2018, includes a $7 million net loss associated with the March 28, 2018, early retirement of $750 million of 4.875 percent senior unsecured notes that were due in 2024. The net loss within the Williams Partners segment reflects $34 million in premiums paid, partially offset by $27 million of unamortized premium. For the three months ended March 31, 2017, Other income (expense) – net below Operating income (loss) includes a net gain of $30 million associated with the February 23, 2017, early retirement of $750 million of 6.125 percent senior unsecured notes that were due in 2022. The net gain within Williams Partners reflects $53 million of unamortized premium, partially offset by $23 million in premiums paid. (See Note 9 – Debt and Banking Arrangements.)