WILLIAMS COMPANIES, INC.

WMB 10-K · FY 2025

WMB FY 2025 request

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Income Statement

Income Statement
Metric FY 2025 FY 2024 YoY
Revenue 11,950 10,503 +13.8%
Show Product Lines breakouts
Energy Commodities And Service 120 -250 +148.0%
Energy Commodities And Service · All Other Segments 10 -26 +138.5%
Energy Commodities And Service · Gas & NGL Marketing Services 69 -263 +126.2%
Energy Commodities And Service · Gas & NGL Marketing Services -69 72 -195.8%
Energy Commodities And Service · Gas & NGL Marketing Services 138 -335 +141.2%
Energy Commodities And Service · Reportable Segment Aggregation Before Other Operating Segment 74 -259 +128.6%
Energy Commodities And Service · Reportable Segment Aggregation Before Other Operating Segment -64 76 -184.2%
Energy Commodities And Service · Reportable Segment Aggregation Before Other Operating Segment 138 -335 +141.2%
Energy Commodities And Service · Transmission, Power & Gulf [Member] 1
Energy Commodities And Service · Transmission, Power & Gulf [Member] 1
Energy Commodities And Service · West [Member] 4 4 0.0%
Energy Commodities And Service · West [Member] 4 4 0.0%
Natural Gas Gathering Transportation Marketing And Processing · Transcontinental Gas Pipe Line Company, LLC [Member] 126 118 +6.8%
Natural Gas Storage · Northwest Pipeline LLC [Member] 15 15 0.0%
Natural Gas Storage · Transcontinental Gas Pipe Line Company, LLC [Member] 228 200 +14.0%
Natural Gas Us Regulated · Northwest Pipeline LLC [Member] 434 416 +4.3%
Natural Gas Us Regulated · Transcontinental Gas Pipe Line Company, LLC [Member] 2,874 2,619 +9.7%
NonRegulated Service Commodity Consideration [Member] 192 134 +43.3%
NonRegulated Service Commodity Consideration [Member] · Northeast G & P [Member] 2 2 0.0%
NonRegulated Service Commodity Consideration [Member] · Reportable Segment Aggregation Before Other Operating Segment 192 134 +43.3%
NonRegulated Service Commodity Consideration [Member] · Transmission, Power & Gulf [Member] 104 54 +92.6%
NonRegulated Service Commodity Consideration [Member] · West [Member] 86 78 +10.3%
Other [Member] · All Other Segments 632 470 +34.5%
Product 3,290 2,991 +10.0%
Product And Service Other · Northwest Pipeline LLC [Member] 9 13 -30.8%
Product And Service Other · Transcontinental Gas Pipe Line Company, LLC [Member] 35 27 +29.6%
Product · Gas & NGL Marketing Services 2,106 2,052 +2.6%
Product · Gas & NGL Marketing Services 2,776 2,500 +11.0%
Product · Gas & NGL Marketing Services -670 -448 -49.6%
Product · Northeast G & P [Member] 171 110 +55.5%
Product · Northeast G & P [Member] 49 24 +104.2%
Product · Northeast G & P [Member] 122 86 +41.9%
Product · Reportable Segment Aggregation Before Other Operating Segment 3,695 3,359 +10.0%
Product · Reportable Segment Aggregation Before Other Operating Segment 3,123 2,846 +9.7%
Product · Reportable Segment Aggregation Before Other Operating Segment 572 513 +11.5%
Product · Transmission, Power & Gulf [Member] 512 328 +56.1%
Product · Transmission, Power & Gulf [Member] 156 144 +8.3%
Product · Transmission, Power & Gulf [Member] 356 184 +93.5%
Product · West [Member] 906 869 +4.3%
Product · West [Member] 142 178 -20.2%
Product · West [Member] 764 691 +10.6%
Service 8,348 7,628 +9.4%
Service · Northeast G & P [Member] 1,995 1,913 +4.3%
Service · Northeast G & P [Member] 1,980 1,900 +4.2%
Service · Northeast G & P [Member] 15 13 +15.4%
Service · Reportable Segment Aggregation Before Other Operating Segment 8,672 7,877 +10.1%
Service · Reportable Segment Aggregation Before Other Operating Segment 8,332 7,615 +9.4%
Service · Reportable Segment Aggregation Before Other Operating Segment 340 262 +29.8%
Service · Transmission, Power & Gulf [Member] 4,826 4,246 +13.7%
Service · Transmission, Power & Gulf [Member] 4,731 4,157 +13.8%
Service · Transmission, Power & Gulf [Member] 95 89 +6.7%
Service · West [Member] 1,851 1,718 +7.7%
Service · West [Member] 1,621 1,558 +4.0%
Service · West [Member] 230 160 +43.8%
Show Business Segments breakouts
All Other Segments · Corporate Non Segment 642 444 +44.6%
Gas & NGL Marketing Services · Operating Segments 2,175 1,789 +21.6%
Northeast G & P [Member] · Operating Segments 2,168 2,025 +7.1%
Reportable Segment Aggregation Before Other Operating Segment · Operating Segments 12,633 11,111 +13.7%
Transmission, Power & Gulf [Member] · Operating Segments 5,443 4,628 +17.6%
West [Member] · Operating Segments 2,847 2,669 +6.7%
Show Legal Entity breakouts
Northwest Pipeline LLC [Member] 458 444 +3.2%
Northwest Pipeline LLC [Member] · Cascade Natural Gas Corporation 48 46 +4.3%
Northwest Pipeline LLC [Member] · Northwest Natural Gas Company 49 47 +4.3%
Northwest Pipeline LLC [Member] · Puget Sound Energy, Inc 139 136 +2.2%
Transcontinental Gas Pipe Line Company, LLC [Member] 3,263 2,964 +10.1%
Transcontinental Gas Pipe Line Company, LLC [Member] · Affiliated Entity 86 76 +13.2%
Transcontinental Gas Pipe Line Company, LLC [Member] · Dominion Energy, Inc 216 217 -0.5%
Show Consolidation Items breakouts
Intersegment Elimination -1,325 -1,052 -26.0%
Show Equity Method Investment Nonconsolidated Investee breakouts
Equity Method Investment Nonconsolidated Investee Or Group Of Investees 2,930 2,880 +1.7%
Show Related Party Transactions By Related Party breakouts
Director 97 59 +64.4%
Investee 20 2 +900.0%
Revenue 14,899 12,632 +17.9%
Show Product Lines breakouts
NonRegulated Service Commodity Consideration [Member] 192 134 +43.3%
NonRegulated Service Commodity Consideration [Member] · Northeast G & P [Member] 2 2 0.0%
NonRegulated Service Commodity Consideration [Member] · Transmission, Power & Gulf [Member] 104 54 +92.6%
NonRegulated Service Commodity Consideration [Member] · West [Member] 86 78 +10.3%
NonRegulated Service Monetary Consideration [Member] 4,372 3,970 +10.1%
NonRegulated Service Monetary Consideration [Member] · Intersegment Elimination -235 -162 -45.1%
NonRegulated Service Monetary Consideration [Member] · Northeast G & P [Member] 1,850 1,778 +4.0%
NonRegulated Service Monetary Consideration [Member] · Transmission, Power & Gulf [Member] 933 661 +41.1%
NonRegulated Service Monetary Consideration [Member] · West [Member] 1,824 1,693 +7.7%
Other Service [Member] 155 140 +10.7%
Other Service [Member] · All Other Segments 1
Other Service [Member] · Intersegment Elimination -20 -19 -5.3%
Other Service [Member] · Northeast G & P [Member] 99 92 +7.6%
Other Service [Member] · Transmission, Power & Gulf [Member] 51 46 +10.9%
Other Service [Member] · West [Member] 24 21 +14.3%
Product 6,459 4,969 +30.0%
Product · All Other Segments 580 420 +38.1%
Product · Gas & NGL Marketing Services 6,047 4,530 +33.5%
Product · Intersegment Elimination -1,757 -1,288 -36.4%
Product · Northeast G & P [Member] 171 110 +55.5%
Product · Transmission, Power & Gulf [Member] 512 328 +56.1%
Product · West [Member] 906 869 +4.3%
Regulated Service [Member] 3,721 3,419 +8.8%
Regulated Service [Member] · Intersegment Elimination -83 -81 -2.5%
Regulated Service [Member] · Transmission, Power & Gulf [Member] 3,804 3,500 +8.7%
Service 8,440 7,663 +10.1%
Service · All Other Segments 1
Service · Intersegment Elimination -338 -262 -29.0%
Service · Northeast G & P [Member] 1,951 1,872 +4.2%
Service · Transmission, Power & Gulf [Member] 4,892 4,261 +14.8%
Service · West [Member] 1,934 1,792 +7.9%
Show Business Segments breakouts
All Other Segments · Corporate Non Segment 581 420 +38.3%
Gas & NGL Marketing Services · Operating Segments 6,047 4,530 +33.5%
Northeast G & P [Member] · Operating Segments 2,122 1,982 +7.1%
Transmission, Power & Gulf [Member] · Operating Segments 5,404 4,589 +17.8%
West [Member] · Operating Segments 2,840 2,661 +6.7%
Show Consolidation Items breakouts
Intersegment Elimination -2,095 -1,550 -35.2%
Total Costs & Expenses 7,754 7,164 +8.2%
Show Legal Entity breakouts
Northwest Pipeline LLC [Member] 264 253 +4.3%
Transcontinental Gas Pipe Line Company, LLC [Member] 1,573 1,465 +7.4%
General & Administrative 721 708 +1.8%
Show Legal Entity breakouts
Northwest Pipeline LLC [Member] 49 51 -3.9%
Transcontinental Gas Pipe Line Company, LLC [Member] 223 216 +3.2%
Operating Expenses (FY)
Show Legal Entity breakouts
Northwest Pipeline LLC [Member] · Affiliated Entity 91 91 0.0%
Transcontinental Gas Pipe Line Company, LLC [Member] · Affiliated Entity 352 344 +2.3%
Operating Income 4,196 3,339 +25.7%
Show Legal Entity breakouts
Northwest Pipeline LLC [Member] 194 191 +1.6%
Transcontinental Gas Pipe Line Company, LLC [Member] 1,690 1,499 +12.7%
Interest Expense -1,442 -1,364 -5.7%
Show Legal Entity breakouts
Northwest Pipeline LLC [Member] -28 -28 0.0%
Transcontinental Gas Pipe Line Company, LLC [Member] -332 -324 -2.5%
Interest Income 40 67 -40.3%
Other Non-Operating Income (Expense) 69 108 -36.1%
Show Legal Entity breakouts
Northwest Pipeline LLC [Member] 6 7 -14.3%
Transcontinental Gas Pipe Line Company, LLC [Member] -4 -8 +50.0%
Income Before Taxes 3,625 2,986 +21.4%
Show Legal Entity breakouts
Northwest Pipeline LLC [Member] 181 180 +0.6%
Transcontinental Gas Pipe Line Company, LLC [Member] 1,426 1,313 +8.6%
Income Tax Expense (Benefit) 857 640 +33.9%
Net Income 2,618 2,225 +17.7%
Show Equity Components breakouts
Retained Earnings · Northwest Pipeline LLC [Member] 181 180 +0.6%
Retained Earnings · Transcontinental Gas Pipe Line Company, LLC [Member] 1,426 1,313 +8.6%
Net Income 2,768 2,346 +18.0%
Show Equity Components breakouts
Noncontrolling Interest 150 121 +24.0%
Parent 2,618 2,225 +17.7%
Retained Earnings 2,618 2,225 +17.7%
Show Legal Entity breakouts
Northwest Pipeline LLC [Member] 181 180 +0.6%
Transcontinental Gas Pipe Line Company, LLC [Member] 1,426 1,313 +8.6%
Show Equity Method Investment Nonconsolidated Investee breakouts
Equity Method Investment Nonconsolidated Investee Or Group Of Investees 1,296 987 +31.3%
Comprehensive Income 2,640 2,301 +14.7%
EPS (Basic) 2.14 1.82 +17.6%
EPS (Diluted) 2.14 1.82 +17.6%
Wtd Avg Shares (Basic) 1,221 1,219 +0.2%
Wtd Avg Shares (Diluted) 1,225 1,223 +0.2%
Income Loss From Equity Method Investments 760 560 +35.7%
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax 3 6 -50.0%
Net Income Loss Attributable To Noncontrolling Interest 150 121 +24.0%
Net Income Loss Available To Common Stockholders Basic 2,615 2,222 +17.7%
Preferred Stock Dividends Income Statement Impact 3 3 0.0%

Balance Sheet

Balance Sheet
Metric FY 2025 FY 2024 YoY
Current Assets
Accounts Receivable (Q)
Show Legal Entity breakouts
Northwest Pipeline LLC [Member] · Nonrelated Party 41 39 +5.1%
Transcontinental Gas Pipe Line Company, LLC [Member] · Nonrelated Party 306 250 +22.4%
Transcontinental Gas Pipe Line Company, LLC [Member] · Related Party 7 24 -70.8%
Inventory 314 279 +12.5%
Show Legal Entity breakouts
Northwest Pipeline LLC [Member] 9 9 0.0%
Transcontinental Gas Pipe Line Company, LLC [Member] 82 81 +1.2%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 6 5 +20.0%
Total Current Assets 3,244 2,661 +21.9%
Show Legal Entity breakouts
Northwest Pipeline LLC [Member] 280 62 +351.6%
Transcontinental Gas Pipe Line Company, LLC [Member] 1,522 1,103 +38.0%
Show Equity Method Investment Nonconsolidated Investee breakouts
Equity Method Investment Nonconsolidated Investee Or Group Of Investees 829 564 +47.0%
Non-Current Assets
Property, Plant & Equipment 41,996 38,692 +8.5%
Show Legal Entity breakouts
Northwest Pipeline LLC [Member] 2,270 2,129 +6.6%
Transcontinental Gas Pipe Line Company, LLC [Member] 14,608 14,103 +3.6%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 4,412 4,896 -9.9%
Operating Lease Right-of-Use Assets 170 154 +10.4%
Show Legal Entity breakouts
Northwest Pipeline LLC [Member] 4 5 -20.0%
Transcontinental Gas Pipe Line Company, LLC [Member] 64 48 +33.3%
Goodwill 466 466 0.0%
Show Business Segments breakouts
Transmission, Power & Gulf [Member] 400 400 0.0%
West [Member] 66 66 0.0%
Other Non-Current Assets 2,011 1,830 +9.9%
Show Legal Entity breakouts
Northwest Pipeline LLC [Member] 30 29 +3.4%
Transcontinental Gas Pipe Line Company, LLC [Member] 466 405 +15.1%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 23 27 -14.8%
Total Assets 58,573 54,532 +7.4%
Show Business Segments breakouts
All Other Segments · Corporate Non Segment 1,555 1,784 -12.8%
Gas & NGL Marketing Services · Operating Segments 317 46 +589.1%
Northeast G & P [Member] · Operating Segments 12,533 12,918 -3.0%
Reportable Segment Aggregation Before Other Operating Segment · Operating Segments 51,763 48,257 +7.3%
Transmission, Power & Gulf [Member] · Operating Segments 26,515 23,149 +14.5%
West [Member] · Operating Segments 12,398 12,144 +2.1%
Show Legal Entity breakouts
Northwest Pipeline LLC [Member] 2,660 2,269 +17.2%
Transcontinental Gas Pipe Line Company, LLC [Member] 16,864 15,931 +5.9%
Current Liabilities
Accounts Payable 2,224 1,613 +37.9%
Show Legal Entity breakouts
Northwest Pipeline LLC [Member] · Related Party 12 12 0.0%
Transcontinental Gas Pipe Line Company, LLC [Member] · Related Party 62 55 +12.7%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 56 57 -1.8%
Show Related Party Transactions By Related Party breakouts
Investee 14 19 -26.3%
Accrued Liabilities (Q)
Show Legal Entity breakouts
Transcontinental Gas Pipe Line Company, LLC [Member] 75
Deferred Revenue (Q)
Show Legal Entity breakouts
Transcontinental Gas Pipe Line Company, LLC [Member] 11 10 +10.0%
Williams Companies Inc [Member] 165 170 -2.9%
Commercial Paper 700 455 +53.8%
Current Portion of Long-Term Debt (Q)
Show Legal Entity breakouts
Transcontinental Gas Pipe Line Company, LLC [Member] 246 35 +602.9%
Total Current Liabilities 6,106 5,312 +14.9%
Show Legal Entity breakouts
Northwest Pipeline LLC [Member] 103 225 -54.2%
Transcontinental Gas Pipe Line Company, LLC [Member] 1,117 609 +83.4%
Show Equity Method Investment Nonconsolidated Investee breakouts
Equity Method Investment Nonconsolidated Investee Or Group Of Investees 880 1,146 -23.2%
Non-Current Liabilities
Long-Term Debt (Q)
Show Legal Entity breakouts
Northwest Pipeline LLC [Member] 748 497 +50.5%
Transcontinental Gas Pipe Line Company, LLC [Member] 5,642 5,200 +8.5%
Operating Lease Liabilities 151 142 +6.3%
Show Legal Entity breakouts
Northwest Pipeline LLC [Member] 4 5 -20.0%
Transcontinental Gas Pipe Line Company, LLC [Member] 63 51 +23.5%
Other Non-Current Liabilities (Q)
Show Legal Entity breakouts
Northwest Pipeline LLC [Member] 5 7 -28.6%
Transcontinental Gas Pipe Line Company, LLC [Member] 227 248 -8.5%
Stockholders' Equity
Common Stock 1,261 1,258 +0.2%
Retained Earnings -12,237 -12,396 +1.3%
Show Legal Entity breakouts
Northwest Pipeline LLC [Member] 122 89 +37.1%
Transcontinental Gas Pipe Line Company, LLC [Member] 3,303 3,217 +2.7%
Accumulated Other Comprehensive Income 127 76 +67.1%
Total Stockholders' Equity 12,807 12,436 +3.0%
Total Liabilities & Equity 58,573 54,532 +7.4%
Show Legal Entity breakouts
Northwest Pipeline LLC [Member] 2,660 2,269 +17.2%
Transcontinental Gas Pipe Line Company, LLC [Member] 16,864 15,931 +5.9%

Cash Flow Statement

Cash Flow Statement
Metric FY 2025 FY 2024 YoY
Operating Activities
Depreciation & Amortization 2,347 2,219 +5.8%
Show Legal Entity breakouts
Northwest Pipeline LLC [Member] 117 111 +5.4%
Transcontinental Gas Pipe Line Company, LLC [Member] 574 545 +5.3%
Stock-Based Compensation 93 99 -6.1%
Deferred Income Taxes 744 506 +47.0%
Change in Inventory -45 -9 -400.0%
Show Legal Entity breakouts
Transcontinental Gas Pipe Line Company, LLC [Member] -1 2 -150.0%
Change in Accounts Payable 115 139 -17.3%
Net Cash from Operations 5,898 4,974 +18.6%
Show Legal Entity breakouts
Northwest Pipeline LLC [Member] 245 239 +2.5%
Transcontinental Gas Pipe Line Company, LLC [Member] 2,075 1,696 +22.3%
Investing Activities
Capital Expenditures -4,893 -2,573 -90.2%
Show Legal Entity breakouts
Northwest Pipeline LLC [Member] -234 -266 +12.0%
Transcontinental Gas Pipe Line Company, LLC [Member] -965 -1,140 +15.4%
Other Investing Activities 22 12 +83.3%
Net Cash from Investing -5,489 -4,863 -12.9%
Show Legal Entity breakouts
Northwest Pipeline LLC [Member] -467 -115 -306.1%
Transcontinental Gas Pipe Line Company, LLC [Member] -1,384 -521 -165.6%
Financing Activities
Debt Issuance Costs -45 -32 -40.6%
Show Legal Entity breakouts
Transcontinental Gas Pipe Line Company, LLC [Member] -15
Net Cash from Financing -406 -2,201 +81.6%
Show Legal Entity breakouts
Northwest Pipeline LLC [Member] 222 -124 +279.0%
Transcontinental Gas Pipe Line Company, LLC [Member] -691 -1,175 +41.2%
Supplemental
Interest Paid (FY)
Show Legal Entity breakouts
Northwest Pipeline LLC [Member] 24 24 0.0%
Transcontinental Gas Pipe Line Company, LLC [Member] 336 302 +11.3%
Williams Companies Inc [Member] 1,404 1,293 +8.6%
Other Cash Flow
Net Change in Cash 3 -2,090 +100.1%

Values in millions USD. Source: SEC EDGAR 10-K filing.

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