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Consolidated Statement of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues:        
Revenues $ 1,781 $ 2,041 $ 3,694 $ 4,095
Costs and expenses:        
Operating and maintenance expenses 320 387 657 727
Depreciation and amortization expenses 430 424 859 840
Selling, general, and administrative expenses 127 152 240 280
Impairment of certain assets (Note 12) 0 64 0 76
Impairment of goodwill (Note 12) 0 0 187 0
Other (income) expense – net 6 9 13 41
Total costs and expenses 1,169 1,543 2,651 3,036
Operating income (loss) 612 498 1,043 1,059
Equity earnings (losses) (Note 5) 108 87 130 167
Impairment of equity-method investments (Note 12) 0 2 (938) (72)
Other investing income (loss) – net (Note 5) 1 124 4 125
Interest incurred (299) (306) (600) (612)
Interest capitalized 5 10 10 20
Other income (expense) – net 5 7 9 18
Income (loss) before income taxes 432 422 (342) 705
Provision (benefit) for income taxes 117 98 (87) 167
Net income (loss) 315 324 (255) 538
Less: Net income (loss) attributable to noncontrolling interests 12 14 (41) 33
Net income (loss) attributable to The Williams Companies, Inc. 303 310 (214) 505
Preferred stock dividends 0 0 1 1
Net income (loss) available to common stockholders $ 303 $ 310 $ (215) $ 504
Basic earnings (loss) per common share:        
Net income (loss) $ 0.25 $ 0.26 $ (0.18) $ 0.42
Weighted-average shares (thousands) 1,213,601 1,212,045 1,213,310 1,211,769
Diluted earnings (loss) per common share:        
Net income (loss) $ 0.25 $ 0.26 $ (0.18) $ 0.41
Weighted-average shares (thousands) [1] 1,214,581 1,214,065 1,213,310 1,213,830
Service [Member]        
Revenues:        
Revenues $ 1,446 $ 1,489 $ 2,920 $ 2,929
NonRegulated Service Commodity Consideration [Member]        
Revenues:        
Revenues 25 56 53 120
Product [Member]        
Revenues:        
Revenues 310 496 721 1,046
Oil and Gas, Purchased [Member]        
Costs and expenses:        
Product costs 271 483 667 1,008
Natural Gas Purchased For Shrink [Member]        
Costs and expenses:        
Product costs $ 15 $ 24 $ 28 $ 64
[1]
For the six months ended June 30, 2020, 1.1 million weighted-average nonvested restricted stock units have been excluded from the computation of diluted earnings (loss) per common share as their inclusion would be antidilutive due to our loss available to common stockholders.