Stockholders' Equity

9 Months Ended

Sep. 30, 2019

Stockholders' Equity Note [Abstract]

Stockholders' Equity [Text Block]

Note 12 – Stockholders’ Equity

Issuance of Preferred Shares

In July 2018, through a wholly owned subsidiary, we contributed 35,000 shares of newly issued Series B Non-Voting Perpetual Preferred Stock (Preferred Stock) to The Williams Companies Foundation, Inc. (a not-for-profit corporation) for use in future charitable and nonprofit causes. The charitable contribution of Preferred Stock was recorded as an expense in the third quarter of 2018. The Preferred Stock was issued for an aggregate value of $35 million and pays non-cumulative quarterly cash dividends when, as and if declared, at a rate of 7.25 percent per year. Our certificate of incorporation authorizes 30 million shares of Preferred Stock, $1 par value per shares.

AOCI

The following table presents the changes in AOCI by component, net of income taxes:

	Cash Flow Hedges			Foreign Currency Translation			Pension and Other Postretirement Benefits			Total
	(Millions)
Balance at December 31, 2018	$	(2	)	$	(1	)	$	(267	)	$	(270	)
Other comprehensive income (loss) before reclassifications	—			—			(5		)	(5		)
Amounts reclassified from accumulated other comprehensive income (loss)	—			—			9			9
Other comprehensive income (loss)	—			—			4			4
Balance at September 30, 2019	$	(2	)	$	(1	)	$	(263	)	$	(266	)

Reclassifications out of AOCI are presented in the following table by component for the nine months ended September 30, 2019:

Component	Reclassifications			Classification
	(Millions)
Pension and other postretirement benefits:
Amortization of actuarial (gain) loss and net actuarial loss from settlements included in net periodic benefit cost (credit)	$	12		Note 9 – Employee Benefit Plans
Income tax benefit	(3		)	Provision (benefit) for income taxes
Reclassifications during the period	$	9