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Consolidated Statement of Income - USD ($)
shares in Thousands, $ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Revenues:    
Revenues $ 2,771 $ 3,081
Costs and expenses:    
Operating and maintenance expenses 511 463
Depreciation and amortization expenses 548 506
Selling, general, and administrative expenses 186 176
Other (income) expense – net (17) (31)
Total costs and expenses 1,759 1,721
Operating income (loss) 1,012 1,360
Equity earnings (losses) 137 147
Other investing income (loss) – net 24 8
Interest expense (349) (294)
Other income (expense) – net 31 20
Income (loss) before income taxes 855 1,241
Less: Provision (benefit) for income taxes 193 284
Net income (loss) 662 957
Less: Net income (loss) attributable to noncontrolling interests 30 30
Net income (loss) attributable to The Williams Companies, Inc. 632 927
Less: Preferred stock dividends 1 1
Net income (loss) available to common stockholders $ 631 $ 926
Basic earnings (loss) per common share:    
Net income (loss) $ 0.52 $ 0.76
Weighted-average shares (thousands) 1,218,155 1,219,465
Diluted earnings (loss) per common share:    
Net income (loss) $ 0.52 $ 0.76
Weighted-average shares (thousands) 1,222,222 1,225,781
Service [Member]    
Revenues:    
Revenues $ 1,905 $ 1,694
NonRegulated Service Commodity Consideration [Member]    
Revenues:    
Revenues 30 36
Product [Member]    
Revenues:    
Revenues 845 845
Energy Commodities and Service    
Revenues:    
Revenues [1] (9) 506
Oil and Gas, Purchased [Member]    
Costs and expenses:    
Cost of Goods and Service, Excluding Depreciation, Depletion, and Amortization 526 553
Natural Gas Purchased For Shrink [Member]    
Costs and expenses:    
Cost of Goods and Service, Excluding Depreciation, Depletion, and Amortization $ 5 $ 54
[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.