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Consolidated Statement of Income - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues:        
Revenues $ 2,653 $ 2,559 $ 7,760 $ 8,123
Costs and expenses:        
Operating and maintenance expenses 580 522 1,613 1,466
Depreciation and amortization expenses 566 521 1,654 1,542
Selling, general, and administrative expenses 170 146 520 483
Gain on sale of business (Note 3) 0 (130) 0 (130)
Other (income) expense – net (25) (9) (69) (49)
Total costs and expenses 1,815 1,565 5,214 4,899
Operating income (loss) 838 994 2,546 3,224
Equity earnings (losses) 147 127 431 434
Other investing income (loss) – net 290 24 332 45
Interest Expense, Nonoperating (338) (314) (1,026) (914)
Other income (expense) – net 31 30 95 69
Income (loss) before income taxes 968 861 2,378 2,858
Less: Provision (benefit) for income taxes 227 176 549 635
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest 741 685 1,829 2,223
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest 0 (1) 0 (88)
Net income (loss) 741 684 1,829 2,135
Less: Net income (loss) attributable to noncontrolling interests 35 30 90 94
Net income (loss) attributable to The Williams Companies, Inc. 706 654 1,739 2,041
Less: Preferred stock dividends 1 1 2 2
Net income (loss) available to common stockholders 705 653 1,737 2,039
Amounts attributable to The Williams Companies, Inc. available to common stockholders:        
Income (loss) from continuing operations 705 654 1,737 2,127
Income (loss) from discontinued operations (Note 1) $ 0 $ (1) $ 0 $ (88)
Basic earnings (loss) per common share:        
Income (Loss) from Continuing Operations, Per Basic Share $ 0.58 $ 0.54 $ 1.43 $ 1.74
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share 0 0 0 (0.07)
Net income (loss) $ 0.58 $ 0.54 $ 1.43 $ 1.67
Weighted-average shares (thousands) 1,219,537 1,216,951 1,219,021 1,218,021
Diluted earnings (loss) per common share:        
Income (Loss) from Continuing Operations, Per Diluted Share $ 0.58 $ 0.54 $ 1.42 $ 1.74
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share 0 0 0 (0.07)
Net income (loss) $ 0.58 $ 0.54 $ 1.42 $ 1.67
Weighted-average shares (thousands) 1,222,869 1,220,073 1,222,444 1,222,650
Service [Member]        
Revenues:        
Revenues $ 1,911 $ 1,770 $ 5,653 $ 5,212
NonRegulated Service Commodity Consideration [Member]        
Revenues:        
Revenues 34 45 82 108
Product [Member]        
Revenues:        
Revenues 703 720 2,158 2,158
Energy Commodities and Service        
Revenues:        
Revenues [1] 5 24 (133) 645
Oil and Gas, Purchased [Member]        
Costs and expenses:        
Cost of Goods and Service, Excluding Depreciation, Depletion, and Amortization 517 484 1,467 1,458
Natural Gas Purchased For Shrink [Member]        
Costs and expenses:        
Cost of Goods and Service, Excluding Depreciation, Depletion, and Amortization $ 7 $ 31 $ 29 $ 129
[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.