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Commodity Derivatives (Tables) | 9 Months Ended
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Sep. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments | At September 30, 2025, the notional volume of the net long (short) positions for Williams’ commodity derivative contracts were as follows:
|  | Commodity |  | Unit of Measure |  | Net Long (Short) Position
Index Risk |  | Natural Gas |  | MMBtu |  | 1,160,396,107
Central Hub Risk - Henry Hub |  | Natural Gas |  | MMBtu |  | (35,822,745)
Basis Risk |  | Natural Gas |  | MMBtu |  | 503,442,124
Central Hub Risk - Mont Belvieu |  | Natural Gas Liquids |  | Barrels |  | (1,287,000)
Basis Risk |  | Natural Gas Liquids |  | Barrels |  | 45,000
Central Hub Risk - WTI |  | Crude Oil |  | Barrels |  | (317,000)
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location | The fair value of commodity derivatives, which are not designated as hedging instruments for accounting purposes, is reflected as follows:
|  | September 30, 2025 |  | December 31, 2024
Commodity Derivatives Categories |  | Assets |  | (Liabilities) |  | Assets |  | (Liabilities)
|  | (Millions)
Current |  | $ | 384 |  |  | $ | (480) |  |  | $ | 508 |  |  | $ | (635) |
Noncurrent |  | 181 |  |  | (373) |  |  | 218 |  |  | (435) |
Total commodity derivatives |  | 565 |  |  | (853) |  |  | 726 |  |  | (1,070) |
Counterparty and collateral netting offset |  | (334) |  |  | 545 |  |  | (382) |  |  | 670 |
Amounts recognized in Williams’ Consolidated Balance Sheet |  | $ | 231 |  |  | $ | (308) |  |  | $ | 344 |  |  | $ | (400) |
The pre-tax impacts of Williams’ commodity derivatives, which are not designated as hedging instruments for accounting purposes, are reflected as follows:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30, |  |
|  | 2025 |  | 2024 |  | 2025 |  | 2024 |  |
|  | (Millions)
Net gain (loss) from commodity derivatives within Total revenues: |  |
Realized |  | $ | 7 |  |  | $ | (7) |  |  | $ | (21) |  |  | $ | 74 |  |  |
Unrealized |  | 49 |  |  | 12 |  |  | 51 |  |  | (207) |  |  |
|  | $ | 56 |  |  | $ | 5 |  |  | $ | 30 |  |  | $ | (133) |  |  |
Net gain (loss) from commodity derivatives within Net processing commodity expenses:
Realized |  | $ | — |  |  | $ | (2) |  |  | $ | (2) |  |  | $ | (7) |  |  |
Unrealized |  | 2 |  |  | 1 |  |  | 4 |  |  | (3) |  |  |
|  | $ | 2 |  |  | $ | (1) |  |  | $ | 2 |  |  | $ | (10) |  |  |
Total net gain (loss) from commodity derivatives |  | $ | 58 |  |  | $ | 4 |  |  | $ | 32 |  |  | $ | (143) |  |  |

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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References No definition available. + Details
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- Definition Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as hedging instruments) of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C + Details
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