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Consolidated Statement of Income - USD ($)
shares in Thousands, $ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenues:      
Revenues $ 10,907 $ 10,965 $ 10,627
Costs and expenses:      
Operating and maintenance expenses 1,984 1,817 1,548
Depreciation and amortization expenses 2,071 2,009 1,842
Selling, general, and administrative expenses 665 636 558
Gain on sale of business (Note 3) (129) 0 0
Other (income) expense – net (30) 28 16
Total costs and expenses 6,596 7,947 7,996
Operating income (loss) 4,311 3,018 2,631
Equity earnings (losses) 589 637 608
Other investing income (loss) – net 108 16 7
Interest expense (1,236) (1,147) (1,179)
Gain (Loss) Related to Litigation Settlement 534 0 0
Other income (expense) – net 99 18 6
Income (loss) before income taxes 4,405 2,542 2,073
Less: Provision (benefit) for income taxes 1,005 425 511
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest 3,400 2,117 1,562
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest (97) 0 0
Net income (loss) 3,303 2,117 1,562
Less: Net income (loss) attributable to noncontrolling interests 124 68 45
Net income (loss) attributable to The Williams Companies, Inc. 3,179 2,049 1,517
Less: Preferred stock dividends 3 3 3
Net income (loss) available to common stockholders 3,176 2,046 1,514
Amounts attributable to The Williams Companies, Inc. available to common stockholders:      
Income (loss) from continuing operations available to common stockholders $ 3,273 $ 2,046 $ 1,514
Basic earnings (loss) per common share:      
Basic $ 2.69 $ 1.68 $ 1.25
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share (0.08) 0 0
Net income (loss) $ 2.61 $ 1.68 $ 1.25
Weighted-average shares (thousands) 1,217,784 1,218,362 1,215,221
Diluted earnings (loss) per common share:      
Diluted $ 2.68 $ 1.67 $ 1.24
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share (0.08) 0 0
Net income (loss) $ 2.60 $ 1.67 $ 1.24
Weighted-average shares (thousands) 1,222,715 1,222,672 1,218,215
Service [Member]      
Revenues:      
Revenues $ 7,026 $ 6,536 $ 6,001
NonRegulated Service Commodity Consideration [Member]      
Revenues:      
Revenues 146 260 238
Product [Member]      
Revenues:      
Revenues 2,779 4,556 4,536
Energy Commodities and Service      
Revenues:      
Revenues [1] 956 (387) (148)
Oil and Gas, Purchased [Member]      
Costs and expenses:      
Cost of Goods and Service, Excluding Depreciation, Depletion, and Amortization 1,884 3,369 3,931
Natural Gas Purchased For Shrink [Member]      
Costs and expenses:      
Cost of Goods and Service, Excluding Depreciation, Depletion, and Amortization $ 151 $ 88 $ 101
[1] We record transactions that qualify as commodity 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 from commodity derivatives held for energy trading purposes are presented on a net basis in revenue.