WILLIAMS COMPANIES, INC.

WMB 10-K · Q4 2025

WMB Q4 2025 request

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Income Statement

Income Statement
Metric Q4 2025 Q4 2024 YoY
Revenue 3,198 2,743 +16.6%
Show Product Lines breakouts
Energy Commodities And Service 90 -117 +176.9%
Energy Commodities And Service · Gas & NGL Marketing Services 78 -115 +167.8%
Energy Commodities And Service · Gas & NGL Marketing Services -25 32 -178.1%
Energy Commodities And Service · Gas & NGL Marketing Services 103 -147 +170.1%
Energy Commodities And Service · Reportable Segment Aggregation Before Other Operating Segment 82 -116 +170.7%
Energy Commodities And Service · Reportable Segment Aggregation Before Other Operating Segment -21 31 -167.7%
Energy Commodities And Service · Reportable Segment Aggregation Before Other Operating Segment 103 -147 +170.1%
Energy Commodities And Service · West [Member] 3 -1 +400.0%
Energy Commodities And Service · West [Member] 3 -1 +400.0%
Natural Gas Gathering Transportation Marketing And Processing · Transcontinental Gas Pipe Line Company, LLC [Member] 45 46 -2.2%
Natural Gas Storage · Northwest Pipeline LLC [Member] 4 4 0.0%
Natural Gas Storage · Transcontinental Gas Pipe Line Company, LLC [Member] 59 52 +13.5%
Natural Gas Us Regulated · Northwest Pipeline LLC [Member] 114 106 +7.5%
Natural Gas Us Regulated · Transcontinental Gas Pipe Line Company, LLC [Member] 740 670 +10.4%
NonRegulated Service Commodity Consideration [Member] 51 52 -1.9%
NonRegulated Service Commodity Consideration [Member] · Northeast G & P [Member] 1 1 0.0%
NonRegulated Service Commodity Consideration [Member] · Reportable Segment Aggregation Before Other Operating Segment 51 52 -1.9%
NonRegulated Service Commodity Consideration [Member] · Transmission, Power & Gulf [Member] 29 26 +11.5%
NonRegulated Service Commodity Consideration [Member] · West [Member] 21 25 -16.0%
Product 874 833 +4.9%
Product And Service Other · Northwest Pipeline LLC [Member] 2 5 -60.0%
Product And Service Other · Transcontinental Gas Pipe Line Company, LLC [Member] 14 8 +75.0%
Product · Gas & NGL Marketing Services 549 561 -2.1%
Product · Gas & NGL Marketing Services 739 700 +5.6%
Product · Gas & NGL Marketing Services -190 -139 -36.7%
Product · Northeast G & P [Member] 39 36 +8.3%
Product · Northeast G & P [Member] 7 9 -22.2%
Product · Northeast G & P [Member] 32 27 +18.5%
Product · Reportable Segment Aggregation Before Other Operating Segment 960 952 +0.8%
Product · Reportable Segment Aggregation Before Other Operating Segment 836 793 +5.4%
Product · Reportable Segment Aggregation Before Other Operating Segment 124 159 -22.0%
Product · Transmission, Power & Gulf [Member] 159 143 +11.2%
Product · Transmission, Power & Gulf [Member] 57 59 -3.4%
Product · Transmission, Power & Gulf [Member] 102 84 +21.4%
Product · West [Member] 213 212 +0.5%
Product · West [Member] 33 25 +32.0%
Product · West [Member] 180 187 -3.7%
Service 2,183 1,975 +10.5%
Service · Northeast G & P [Member] 502 494 +1.6%
Service · Northeast G & P [Member] 498 490 +1.6%
Service · Northeast G & P [Member] 4 4 0.0%
Service · Reportable Segment Aggregation Before Other Operating Segment 2,277 2,044 +11.4%
Service · Reportable Segment Aggregation Before Other Operating Segment 2,179 1,974 +10.4%
Service · Reportable Segment Aggregation Before Other Operating Segment 98 70 +40.0%
Service · Transmission, Power & Gulf [Member] 1,278 1,102 +16.0%
Service · Transmission, Power & Gulf [Member] 1,255 1,080 +16.2%
Service · Transmission, Power & Gulf [Member] 23 22 +4.5%
Service · West [Member] 497 448 +10.9%
Service · West [Member] 426 404 +5.4%
Service · West [Member] 71 44 +61.4%
Show Business Segments breakouts
All Other Segments · Corporate Non Segment 164 133 +23.3%
Gas & NGL Marketing Services · Operating Segments 627 446 +40.6%
Northeast G & P [Member] · Operating Segments 542 531 +2.1%
Reportable Segment Aggregation Before Other Operating Segment · Operating Segments 3,370 2,932 +14.9%
Transmission, Power & Gulf [Member] · Operating Segments 1,467 1,271 +15.4%
West [Member] · Operating Segments 734 684 +7.3%
Show Legal Entity breakouts
Northwest Pipeline LLC [Member] 120 115 +4.3%
Transcontinental Gas Pipe Line Company, LLC [Member] 858 776 +10.6%
Transcontinental Gas Pipe Line Company, LLC [Member] · Affiliated Entity 23 19 +21.1%
Show Consolidation Items breakouts
Intersegment Elimination -336 -322 -4.3%
Revenue 3,843 3,411 +12.7%
Show Product Lines breakouts
NonRegulated Service Commodity Consideration [Member] 51 52 -1.9%
NonRegulated Service Commodity Consideration [Member] · Northeast G & P [Member] 1 1 0.0%
NonRegulated Service Commodity Consideration [Member] · Transmission, Power & Gulf [Member] 29 26 +11.5%
NonRegulated Service Commodity Consideration [Member] · West [Member] 21 25 -16.0%
NonRegulated Service Monetary Consideration [Member] 1,151 1,037 +11.0%
NonRegulated Service Monetary Consideration [Member] · Intersegment Elimination -71 -45 -57.8%
NonRegulated Service Monetary Consideration [Member] · Northeast G & P [Member] 465 461 +0.9%
NonRegulated Service Monetary Consideration [Member] · Transmission, Power & Gulf [Member] 268 181 +48.1%
NonRegulated Service Monetary Consideration [Member] · West [Member] 489 440 +11.1%
Other Service [Member] 38 36 +5.6%
Other Service [Member] · Intersegment Elimination -6 -7 +14.3%
Other Service [Member] · Northeast G & P [Member] 25 23 +8.7%
Other Service [Member] · Transmission, Power & Gulf [Member] 11 14 -21.4%
Other Service [Member] · West [Member] 7 6 +16.7%
Product 1,640 1,411 +16.2%
Product · All Other Segments 152 131 +16.0%
Product · Gas & NGL Marketing Services 1,530 1,297 +18.0%
Product · Intersegment Elimination -453 -408 -11.0%
Product · Northeast G & P [Member] 39 36 +8.3%
Product · Transmission, Power & Gulf [Member] 159 143 +11.2%
Product · West [Member] 213 212 +0.5%
Regulated Service [Member] 963 875 +10.1%
Regulated Service [Member] · Intersegment Elimination -21 -20 -5.0%
Regulated Service [Member] · Transmission, Power & Gulf [Member] 984 895 +9.9%
Service 2,203 2,000 +10.2%
Service · Intersegment Elimination -98 -72 -36.1%
Service · Northeast G & P [Member] 491 485 +1.2%
Service · Transmission, Power & Gulf [Member] 1,292 1,116 +15.8%
Service · West [Member] 517 471 +9.8%
Show Business Segments breakouts
All Other Segments · Corporate Non Segment 153 131 +16.8%
Gas & NGL Marketing Services · Operating Segments 1,530 1,297 +18.0%
Northeast G & P [Member] · Operating Segments 530 521 +1.7%
Transmission, Power & Gulf [Member] · Operating Segments 1,451 1,259 +15.3%
West [Member] · Operating Segments 730 683 +6.9%
Show Consolidation Items breakouts
Intersegment Elimination -551 -480 -14.8%
Total Costs & Expenses 2,150 1,950 +10.3%
Show Legal Entity breakouts
Northwest Pipeline LLC [Member] 71 64 +10.9%
Transcontinental Gas Pipe Line Company, LLC [Member] 412 401 +2.7%
General & Administrative (Q)
Show Legal Entity breakouts
Northwest Pipeline LLC [Member] 12 14 -14.3%
Transcontinental Gas Pipe Line Company, LLC [Member] 57 57 0.0%
Operating Expenses (Q)
Show Legal Entity breakouts
Northwest Pipeline LLC [Member] · Affiliated Entity 23 23 0.0%
Transcontinental Gas Pipe Line Company, LLC [Member] · Affiliated Entity 90 90 0.0%
Operating Income 1,048 793 +32.2%
Show Legal Entity breakouts
Northwest Pipeline LLC [Member] 49 51 -3.9%
Transcontinental Gas Pipe Line Company, LLC [Member] 446 375 +18.9%
Interest Expense -371 -338 -9.8%
Show Legal Entity breakouts
Northwest Pipeline LLC [Member] -7 -7 0.0%
Transcontinental Gas Pipe Line Company, LLC [Member] -88 -81 -8.6%
Other Non-Operating Income (Expense) 18 13 +38.5%
Show Legal Entity breakouts
Northwest Pipeline LLC [Member] 2 0
Transcontinental Gas Pipe Line Company, LLC [Member] -1 -3 +66.7%
Income Before Taxes 1,017 608 +67.3%
Income Tax Expense (Benefit) 244 91 +168.1%
Net Income 734 486 +51.0%
Show Equity Components breakouts
Retained Earnings · Northwest Pipeline LLC [Member] 46 46 0.0%
Retained Earnings · Transcontinental Gas Pipe Line Company, LLC [Member] 381 317 +20.2%
Net Income 773 517 +49.5%
Show Equity Components breakouts
Noncontrolling Interest 39 31 +25.8%
Parent 734 486 +51.0%
Retained Earnings 734 486 +51.0%
Show Legal Entity breakouts
Northwest Pipeline LLC [Member] 46 46 0.0%
Transcontinental Gas Pipe Line Company, LLC [Member] 381 317 +20.2%
Comprehensive Income 759 562 +35.1%
EPS (Basic) 0.6 0.39 +53.8%
EPS (Diluted) 0.6 0.4 +50.0%
Wtd Avg Shares (Basic) 0 0
Wtd Avg Shares (Diluted) 1 1 0.0%
Income Loss From Equity Method Investments 311 129 +141.1%
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax 0 4 -100.0%
Net Income Loss Attributable To Noncontrolling Interest 39 31 +25.8%
Net Income Loss Available To Common Stockholders Basic 733 485 +51.1%
Preferred Stock Dividends Income Statement Impact 1 1 0.0%

Balance Sheet

Balance Sheet
Metric Q4 2025 Q4 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 YTD Q4 2025 YTD Q4 2024 YoY
Operating Activities
Depreciation & Amortization 593 565 +5.0%
Show Legal Entity breakouts
Northwest Pipeline LLC [Member] 29 29 0.0%
Transcontinental Gas Pipe Line Company, LLC [Member] 148 135 +9.6%
Stock-Based Compensation 23 30 -23.3%
Deferred Income Taxes 302 39 +674.4%
Change in Inventory 21 -3 +800.0%
Show Legal Entity breakouts
Transcontinental Gas Pipe Line Company, LLC [Member] 5 0
Change in Accounts Payable 474 456 +3.9%
Net Cash from Operations 1,576 1,218 +29.4%
Show Legal Entity breakouts
Northwest Pipeline LLC [Member] 64 39 +64.1%
Transcontinental Gas Pipe Line Company, LLC [Member] 545 411 +32.6%
Investing Activities
Capital Expenditures -1,955 -768 -154.6%
Show Legal Entity breakouts
Northwest Pipeline LLC [Member] -85 -88 +3.4%
Transcontinental Gas Pipe Line Company, LLC [Member] -302 -302 0.0%
Other Investing Activities 13 -8 +262.5%
Net Cash from Investing -2,287 -1,070 -113.7%
Show Legal Entity breakouts
Northwest Pipeline LLC [Member] -237 -28 -746.4%
Transcontinental Gas Pipe Line Company, LLC [Member] -785 -87 -802.3%
Financing Activities
Debt Issuance Costs -16 -1 -1500.0%
Net Cash from Financing 704 -850 +182.8%
Show Legal Entity breakouts
Northwest Pipeline LLC [Member] 173 -11 +1672.7%
Transcontinental Gas Pipe Line Company, LLC [Member] 240 -324 +174.1%
Other Cash Flow
Net Change in Cash -7 -702 +99.0%

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

This table is rendered from the same JSON returned by /api/financials.

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