Regulatory Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2024

Regulated Operations [Abstract]

Schedule of Regulatory Assets

Williams

	December 31,
	2024		2023
	(Millions)
Current assets reported within Other current assets and deferred charges	$	84	$	95
Noncurrent assets reported within Regulatory assets, deferred charges, and other	582		527
Total regulatory assets	$	666	$	622
Current liabilities reported within Other current liabilities	$	85	$	77
Noncurrent liabilities reported within Regulatory liabilities, deferred income, and other	1,300		1,288
Total regulatory liabilities	$	1,385	$	1,365

Transco

	December 31,
	2024		2023
	(Millions)
Current regulatory assets:
Fuel recovery	$	47	$	60
ARO	16		16
Deferred cash out	6		6
ARO - Eminence	5		5
Total current regulatory assets	74		87
Long-term regulatory assets:
ARO	243		209
Grossed-up deferred taxes on equity AFUDC	29		31
ARO - Eminence	15		20
Slug catcher	6		6
Deferred cash out	—		11
Other	27		22
Total long-term regulatory assets	320		299
Total regulatory assets	$	394	$	386
Current regulatory liabilities:
Deferred taxes - liability	$	31	$	31
Postretirement benefits other than pension	—		8
Electric power cost	26		7
Pension	—		2
Other	1		1
Total current regulatory liabilities	58		49
Long-term regulatory liabilities:
Negative salvage	632		605
Deferred taxes - liability	252		283
Postretirement benefits other than pension	31		23
Pension	30		24
Sentinel meter station depreciation	7		7
Other	24		14
Total long-term regulatory liabilities	976		956
Total regulatory liabilities	$	1,034	$	1,005

NWP

	December 31,
	2024		2023
	(Millions)
Current regulatory assets:
Fuel recovery	$	4	$	—
Levelized depreciation	2		2
Total current regulatory assets	6		2
Long-term regulatory assets:
Levelized depreciation	7		10
Grossed-up deferred taxes on equity AFUDC	4		4
Washington State Carbon and Greenhouse Gas Tax	38		22
Total long-term regulatory assets	49		36
Total regulatory assets	$	55	$	38
Current regulatory liabilities:
Deferred taxes - liability	$	20	$	20
Fuel recovery	—		1
Total current regulatory liabilities	20		21
Long-term regulatory liabilities:
Deferred taxes - liability	160		179
Postretirement benefits other than pension	43		42
Negative salvage - net	30		31
Total long-term regulatory liabilities	233		252
Total regulatory liabilities	$	253	$	273

Schedule of Regulatory Liabilities

Williams

	December 31,
	2024		2023
	(Millions)
Current assets reported within Other current assets and deferred charges	$	84	$	95
Noncurrent assets reported within Regulatory assets, deferred charges, and other	582		527
Total regulatory assets	$	666	$	622
Current liabilities reported within Other current liabilities	$	85	$	77
Noncurrent liabilities reported within Regulatory liabilities, deferred income, and other	1,300		1,288
Total regulatory liabilities	$	1,385	$	1,365

Transco

	December 31,
	2024		2023
	(Millions)
Current regulatory assets:
Fuel recovery	$	47	$	60
ARO	16		16
Deferred cash out	6		6
ARO - Eminence	5		5
Total current regulatory assets	74		87
Long-term regulatory assets:
ARO	243		209
Grossed-up deferred taxes on equity AFUDC	29		31
ARO - Eminence	15		20
Slug catcher	6		6
Deferred cash out	—		11
Other	27		22
Total long-term regulatory assets	320		299
Total regulatory assets	$	394	$	386
Current regulatory liabilities:
Deferred taxes - liability	$	31	$	31
Postretirement benefits other than pension	—		8
Electric power cost	26		7
Pension	—		2
Other	1		1
Total current regulatory liabilities	58		49
Long-term regulatory liabilities:
Negative salvage	632		605
Deferred taxes - liability	252		283
Postretirement benefits other than pension	31		23
Pension	30		24
Sentinel meter station depreciation	7		7
Other	24		14
Total long-term regulatory liabilities	976		956
Total regulatory liabilities	$	1,034	$	1,005

NWP

	December 31,
	2024		2023
	(Millions)
Current regulatory assets:
Fuel recovery	$	4	$	—
Levelized depreciation	2		2
Total current regulatory assets	6		2
Long-term regulatory assets:
Levelized depreciation	7		10
Grossed-up deferred taxes on equity AFUDC	4		4
Washington State Carbon and Greenhouse Gas Tax	38		22
Total long-term regulatory assets	49		36
Total regulatory assets	$	55	$	38
Current regulatory liabilities:
Deferred taxes - liability	$	20	$	20
Fuel recovery	—		1
Total current regulatory liabilities	20		21
Long-term regulatory liabilities:
Deferred taxes - liability	160		179
Postretirement benefits other than pension	43		42
Negative salvage - net	30		31
Total long-term regulatory liabilities	233		252
Total regulatory liabilities	$	253	$	273