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Consolidated Statement of Income (Unaudited) - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues:        
Revenues $ 2,490 $ 2,283 $ 5,014 $ 4,895
Costs and expenses:        
Operating and maintenance expenses 465 379 859 739
Depreciation and amortization expenses 506 463 1,004 901
Selling, general, and administrative expenses 160 114 314 237
Other (income) expense – net (10) 12 (19) 11
Total costs and expenses 2,018 1,683 3,888 3,556
Operating income (loss) 472 600 1,126 1,339
Equity earnings (losses) 163 135 299 266
Other investing income (loss) – net 2 2 3 4
Interest incurred (286) (301) (575) (597)
Interest capitalized 5 3 8 5
Other income (expense) – net 6 2 11 0
Income (loss) before income taxes 362 441 872 1,017
Less: Provision (benefit) for income taxes (45) 119 73 260
Net income (loss) 407 322 799 757
Less: Net income (loss) attributable to noncontrolling interests 7 18 19 27
Net income (loss) attributable to The Williams Companies, Inc. 400 304 780 730
Less: Preferred stock dividends 0 0 1 1
Net income (loss) available to common stockholders $ 400 $ 304 $ 779 $ 729
Basic earnings (loss) per common share:        
Net income (loss) $ 0.33 $ 0.25 $ 0.64 $ 0.60
Weighted-average shares (thousands) 1,218,678 1,215,250 1,217,814 1,214,950
Diluted earnings (loss) per common share:        
Net income (loss) $ 0.33 $ 0.25 $ 0.64 $ 0.60
Weighted-average shares (thousands) 1,222,694 1,217,476 1,221,991 1,217,344
Service [Member]        
Revenues:        
Revenues $ 1,606 $ 1,460 $ 3,143 $ 2,912
NonRegulated Service Commodity Consideration [Member]        
Revenues:        
Revenues 86 51 163 100
Product [Member]        
Revenues:        
Revenues 1,111 786 2,215 1,933
Energy Commodities and Service        
Revenues:        
Revenues (313) (14) (507) [1] (50) [1]
Oil and Gas, Purchased [Member]        
Costs and expenses:        
Product costs 857 697 1,660 1,629
Natural Gas Purchased For Shrink [Member]        
Costs and expenses:        
Product costs $ 40 $ 18 $ 70 $ 39
[1] We record transactions that qualify as derivatives at fair value with changes in fair value recognized in earnings in the period of change and characterized as unrealized gains or losses. Gains and losses on derivatives held for energy trading purposes are presented on a net basis in revenue.