Provision (Benefit) for Income Taxes

6 Months Ended

Jun. 30, 2025

Income Tax Disclosure [Abstract]

Provision (Benefit) for Income Taxes [Text Block]

Note 6 – Provision (Benefit) for Income Taxes

Williams’ Provision (benefit) for income taxes includes:

	Three Months Ended   June 30,				Six Months Ended   June 30,
	2025		2024		2025		2024
	(Millions)
Current:
Federal	$	84	$	19	$	163	$	54
State	11		4		18		10
	95		23		181		64
Deferred:
Federal	63		90		152		217
State	16		16		34		41
	79		106		186		258
Provision (benefit) for income taxes	$	174	$	129	$	367	$	322

The effective income tax rates for the total provision (benefit) for the three and six months ended June 30, 2025 and 2024, are greater than the federal statutory rate, primarily due to the effect of state income taxes.

On July 4, 2025, the One Big Beautiful Bill Act was enacted. While Williams continues to evaluate certain impacts of the new law, it does expect a temporary deferral of upcoming federal income tax payments. The new law is not expected to have a significant impact on Williams’ federal income tax provision for the 2025 full-year period.