Segment Disclosures

12 Months Ended

Dec. 31, 2012

Segment Disclosures [Abstract]

Segment Disclosures

Note 18. Segment Disclosures

Our reporting segments are Williams Partners, Williams NGL & Petchem Services, and Access Midstream Partners. All remaining business activities are included inOther.Following completion of WPZ's purchase of the olefins production facility in Geismar, Louisiana, during the fourth quarter of 2012, the former Midstream Canada & Olefins segment is renamed Williams NGL & Petchem Services. All prior periods have been recast to reflect this transaction.(See Note 1.)

Our segment presentation of Williams Partners is reflective of the parent-level focus by our chief operating decision-maker, considering the resource allocation and governance provisions associated with this master limited partnership structure. WPZ maintains a capital and cash management structure that is separate from ours. WPZ is self-funding and maintains its own lines of bank credit and cash management accounts. These factors, coupled with a different cost of capital from our other businesses, serve to differentiate the management of this entity as a whole.

On December 20, 2012, we acquired an approximate 24 percent ownership interest inACMP and a 50 percent indirect interest in AccessGP for approximately $2.19 billion.  Our segment presentation of Access Midstream Partners reflects the significant size of this investment and the economic opportunities it represents in major unconventional producing areas that will add diversity to our current asset base.

Performance Measurement

We currently evaluate performance based upon segment profit (loss) from operations, which includes segment revenues from external and internal customers, segment costs and expenses, equity earnings (losses) and income(loss) from investments. General corporate expenses represent selling, general, and administrative expenses that are not allocated to our segments. The accounting policies of the segments are the same as those described in Note 1. Intersegment sales are generally accounted for at current market prices as if the sales were to unaffiliated third parties.

The following geographic area data includes revenues from external customers based on product shipment origin and long-lived assets based upon physical location.

		United States		Other		Total
		(Millions)
Revenues from external customers:
	2012	$	7,335	$	151	$	7,486
	2011		7,728		202		7,930
	2010		6,471		167		6,638
Long-lived assets:
	2012	$	16,940	$	880	$	17,820
	2011		12,041		583		12,624
	2010		11,384		408		11,792

Our foreign operations are located in Canada. Long-livedassets are comprised of property, plant, and equipment, goodwill, and other intangible assets.

As discussed in Notes 1 and 3, our former exploration and production business was spun-off on December 31, 2011 and has been reported as discontinued operations in all prior periods presented. Revenuesderived from intercompany sales to our former exploration and production business, previously reported as internal, are now shown as external. These sales were $310million and $264million for the years ended 2011 and 2010, respectively. In addition, costs attributable to activities with our former exploration and production business, previously reported as internal,are now shown as external. Such costs were $845million and $797million for the years ended 2011 and 2010, respectively.

The following table reflects the reconciliation of segment revenues and segmentprofit (loss) to revenues and operating income (loss) as reported in the Consolidated Statement of Operations and other financial information related to long-livedassets.

					Williams		Access
			Williams		NGL & Petchem		Midstream
			Partners		Services		Partners		Other		Eliminations		Total
			(Millions)
2012
Segment revenues:
	Service revenues
		External	$	2,709	$	5	$	-	$	15	$	-	$	2,729
		Internal		-		-		-		12		(12)		-
	Total service revenues			2,709		5		-		27		(12)		2,729
	Product sales
		External		4,611		146		-		-		-		4,757
		Internal		-		128		-		-		(128)		-
	Total product sales			4,611		274		-		-		(128)		4,757
Total revenues			$	7,320	$	279	$	-	$	27	$	(140)	$	7,486
Segment profit (loss)			$	1,812	$	99	$	-	$	49	$	-	$	1,960
Less:
		Equity earnings (losses)		111		-		-		-		-		111
		Income (loss) from investments		-		(4)		-		53		-		49
Segment operating income (loss)			$	1,701	$	103	$	-	$	(4)	$	-		1,800
General corporate expenses														(188)
Operating income (loss)													$	1,612
Other financial information:
		Additions to long-lived assets	$	5,562	$	425	$	-	$	31	$	-	$	6,018
		Depreciation and amortization	$	714	$	20	$	-	$	22	$	-	$	756
2011
Segment revenues:
	Service revenues
		External	$	2,517	$	1	$	-	$	14	$	-	$	2,532
		Internal		-		-		-		11		(11)		-
	Total service revenues			2,517		1		-		25		(11)		2,532
	Product sales
		External		5,197		201		-		-		-		5,398
		Internal		-		139		-		-		(139)		-
	Total product sales			5,197		340		-		-		(139)		5,398
Total revenues			$	7,714	$	341	$	-	$	25	$	(150)	$	7,930
Segment profit (loss)			$	2,035	$	157	$	-	$	24	$	-	$	2,216
Less:
		Equity earnings (losses)		142		-		-		13		-		155
		Income (loss) from investments		-		(4)		-		11		-		7
Segment operating income (loss)			$	1,893	$	161	$	-	$	-	$	-		2,054
General corporate expenses														(187)
Operating income (loss)													$	1,867
Other financial information:
		Additions to long-lived assets	$	1,273	$	211	$	-	$	46	$	-	$	1,530
		Depreciation and amortization	$	621	$	16	$	-	$	24	$	-	$	661
2010
Segment revenues:
	Service revenues
		External	$	2,346	$	1	$	-	$	12	$	-	$	2,359
		Internal		-		-		-		12		(12)		-
	Total service revenues			2,346		1		-		24		(12)		2,359
	Product sales
		External		4,113		166		-		-		-		4,279
		Internal		-		71		-		-		(71)		-
	Total product sales			4,113		237		-		-		(71)		4,279
Total revenues			$	6,459	$	238	$	-	$	24	$	(83)	$	6,638
Segment profit (loss)			$	1,666	$	80	$	-	$	68	$	-	$	1,814
Less:
		Equity earnings (losses)		109		-		-		34		-		143
		Income (loss) from investments		-		-		-		43		-		43
Segment operating income (loss)			$	1,557	$	80	$	-	$	(9)	$	-		1,628
General corporate expenses														(221)
Operating income (loss)													$	1,407
Other financial information:
		Additions to long-lived assets	$	911	$	97	$	-	$	25	$	-	$	1,033
		Depreciation and amortization	$	578	$	13	$	-	$	21	$	-	$	612

The following table reflects total assets and equity method investments by reportable segments, including discontinued operations.

			Total Assets				Equity Method Investments
		December 31, 2012		December 31, 2011		December 31, 2012		December 31, 2011		December 31, 2010
			(Millions)
Williams Partners (a)		$	19,709	$	14,672	$	1,800	$	1,383	$	1,045
Williams NGL & Petchem Services			1,134		837		-		-		-
Access Midstream Partners (a)			2,187		-		2,187		-		-
Other			1,782		1,275		-		7		193
Eliminations			(485)		(282)		-		-		-
Discontinued operations (see Note 3)			-		-		-		-		104
	Total	$	24,327	$	16,502	$	3,987	$	1,390	$	1,342

_______

• The increase in total assets of Williams Partners is primarily due to the Laser and Caiman Acquisitions. See Note 2. See Note 2 and Note 4 for a discussion on Access Midstream Partners.