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Consolidated Statement of Income (Unaudited) - USD ($)
shares in Thousands, $ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Revenues:    
Revenues $ 3,081 $ 2,524
Costs and expenses:    
Operating and maintenance expenses 463 394
Depreciation and amortization expenses 506 498
Selling, general, and administrative expenses 176 154
Other (income) expense – net (31) (9)
Total costs and expenses 1,721 1,870
Operating income (loss) 1,360 654
Equity earnings (losses) 147 136
Other investing income (loss) – net 8 1
Interest incurred (304) (289)
Interest capitalized 10 3
Other income (expense) – net 20 5
Income (loss) before income taxes 1,241 510
Less: Provision (benefit) for income taxes 284 118
Net income (loss) 957 392
Less: Net income (loss) attributable to noncontrolling interests 30 12
Net income (loss) attributable to The Williams Companies, Inc. 927 380
Less: Preferred stock dividends 1 1
Net income (loss) available to common stockholders $ 926 $ 379
Basic earnings (loss) per common share:    
Net income (loss) available to common stockholders $ 0.76 $ 0.31
Weighted-average shares (thousands) 1,219,465 1,216,940
Diluted earnings (loss) per common share:    
Net income (loss) available to common stockholders $ 0.76 $ 0.31
Weighted-average shares (thousands) 1,225,781 1,221,279
Service [Member]    
Revenues:    
Revenues $ 1,694 $ 1,537
NonRegulated Service Commodity Consideration [Member]    
Revenues:    
Revenues 36 77
Product [Member]    
Revenues:    
Revenues 845 1,104
Energy Commodities and Service    
Revenues:    
Revenues [1] 506 (194)
Oil and Gas, Purchased [Member]    
Costs and expenses:    
Product costs 553 803
Natural Gas Purchased For Shrink [Member]    
Costs and expenses:    
Product costs $ 54 $ 30
[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.