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Revenue Recognition (Tables)

9 Months Ended

Sep. 30, 2025

Revenue Recognition [Abstract]

Disaggregation of Revenue [Table Text Block]

The following tables present Williams’ revenue disaggregated by major service line:

			Transmission, Power & Gulf						Northeast G&P						West						Gas & NGL Marketing Services						Other						Eliminations						Total
			(Millions)
Three Months Ended September 30, 2025
Revenues from contracts with customers:
Service revenues:
Regulated interstate natural gas transportation and storage			$	973					$	—					$	—					$	—					$	—					$	(21)					$	952
Gathering, processing, transportation, fractionation, and storage:
Monetary consideration			247						463						464						—						—						(64)						1,110
Commodity consideration			24						—						21						—						—						—						45
Other			10						25						5						—						—						(4)						36
Total service revenues			1,254						488						490						—						—						(89)						2,143
Product sales			130						31						219						1,248						136						(416)						1,348
Total revenues from contracts with customers			1,384						519						709						1,248						136						(505)						3,491
Other revenues (1)			8						11						3						658						24						—						704
Other adjustments (2)			—						—						—						(1,458)						—						186						(1,272)
Total revenues			$	1,392					$	530					$	712					$	448					$	160					$	(319)					$	2,923
Three Months Ended September 30, 2024
Revenues from contracts with customers:
Service revenues:
Regulated interstate natural gas transportation and storage			$	879					$	—					$	—					$	—					$	—					$	(20)					$	859
Gathering, processing, transportation, fractionation, and storage:
Monetary consideration			177						442						422						—						—						(42)						999
Commodity consideration			14						1						19						—						—						—						34
Other			8						22						4						—						—						(3)						31
Total service revenues			1,078						465						445						—						—						(65)						1,923
Product sales			84						26						218						1,005						95						(316)						1,112
Total revenues from contracts with customers			1,162						491						663						1,005						95						(381)						3,035
Other revenues (1)			8						11						—						515						8						(1)						541
Other adjustments (2)			—						—						—						(1,038)						—						115						(923)
Total revenues			$	1,170					$	502					$	663					$	482					$	103					$	(267)					$	2,653

			Transmission, Power & Gulf						Northeast G&P						West						Gas & NGL Marketing Services						Other						Eliminations						Total
			(Millions)
Nine Months Ended September 30, 2025
Revenues from contracts with customers:
Service revenues:
Regulated interstate natural gas transportation and storage			$	2,820					$	—					$	—					$	—					$	—					$	(62)					$	2,758
Gathering, processing, transportation, fractionation, and storage:
Monetary consideration			665						1,385						1,335						—						—						(164)						3,221
Commodity consideration			75						1						65						—						—						—						141
Other			40						74						17						—						—						(14)						117
Total service revenues			3,600						1,460						1,417						—						—						(240)						6,237
Product sales			353						132						693						4,517						428						(1,304)						4,819
Total revenues from contracts with customers			3,953						1,592						2,110						4,517						428						(1,544)						11,056
Other revenues (1)			23						34						3						2,354						50						(2)						2,462
Other adjustments (2)			—						—						—						(5,323)						—						557						(4,766)
Total revenues			$	3,976					$	1,626					$	2,113					$	1,548					$	478					$	(989)					$	8,752
Nine Months Ended September 30, 2024
Revenues from contracts with customers:
Service revenues:
Regulated interstate natural gas transportation and storage			$	2,605					$	—					$	—					$	—					$	—					$	(61)					$	2,544
Gathering, processing, transportation, fractionation, and storage:
Monetary consideration			480						1,317						1,253						—						—						(117)						2,933
Commodity consideration			28						1						53						—						—						—						82
Other			32						69						15						—						—						(12)						104
Total service revenues			3,145						1,387						1,321						—						—						(190)						5,663
Product sales			185						74						657						3,233						289						(880)						3,558
Total revenues from contracts with customers			3,330						1,461						1,978						3,233						289						(1,070)						9,221
Other revenues (1)			27						33						7						1,685						22						(2)						1,772
Other adjustments (2)			—						—						—						(3,575)						—						342						(3,233)
Total revenues			$	3,357					$	1,494					$	1,985					$	1,343					$	311					$	(730)					$	7,760

______________

(1)Revenues not derived from contracts with customers primarily consist of physical product sales related to commodity derivative contracts, realized and unrealized gains and losses associated with Williams’ commodity derivative contracts, which are reported in Net gain (loss) from commodity derivatives in the Consolidated Statement of Income, management fees received for certain services provided to operated equity-method investments, and leasing revenues associated with the Williams headquarters building.

(2)Other adjustments reflect certain costs of Gas & NGL Marketing Services’ risk management activities. As Williams is acting as agent for natural gas marketing customers or engages in energy trading activities, the resulting revenues are presented net of the related costs of those activities in the Consolidated Statement of Income.

Contract with Customer, Asset and Liability [Table Text Block]

The following tables present a reconciliation of contract assets:

			Three Months Ended September 30,
			Williams												Transco												NWP
			2025						2024						2025						2024						2025						2024
			(Millions)
Balance at beginning of period			$	102					$	67					$	13					$	3					$	23					$	19
Revenue recognized in excess of amounts invoiced			13						44						—						4						2						1
Minimum volume commitments invoiced			(5)						(23)						—						—						—						—
Contract assets acquired			—						36						—						—						—						—
Amortization of contract assets			(2)						—						—						—						(1)						—
Balance at end of period			$	108					$	124					$	13					$	7					$	24					$	20
			Nine Months Ended September 30,
			Williams												Transco												NWP
			2025						2024						2025						2024						2025						2024
			(Millions)
Balance at beginning of period			$	98					$	36					$	10					$	—					$	21					$	17
Revenue recognized in excess of amounts invoiced			71						125						4						7						5						3
Minimum volume commitments invoiced			(58)						(73)						—						—						—						—
Contract assets acquired			—						36						—						—						—						—
Amortization of contract assets			(3)						—						(1)						—						(2)						—
Balance at end of period			$	108					$	124					$	13					$	7					$	24					$	20

Contract Liabilities

The following tables present a reconciliation of contract liabilities:

			Three Months Ended September 30,
			Williams												Transco												NWP
			2025						2024						2025						2024						2025						2024
			(Millions)
Balance at beginning of period			$	1,054					$	1,064					$	168					$	179					$	—					$	1
Payments received and deferred			32						33						—						—						—						—
Significant financing component			1						2						—						—						—						—
Contract liability acquired (disposed) – net			—						53						—						—						—						—
Recognized in revenue			(83)						(66)						(3)						(3)						—						—
Balance at end of period			$	1,004					$	1,086					$	165					$	176					$	—					$	1
			Nine Months Ended September 30,
			Williams												Transco												NWP
			2025						2024						2025						2024						2025						2024
			(Millions)
Balance at beginning of period			$	1,046					$	1,081					$	173					$	184					$	—					$	2
Payments received and deferred			152						150						—						—						—						—
Other additions			23						—						—						—						—						—
Significant financing component			5						6						—						—						—						—
Contract liability acquired (disposed) – net			—						53						—						—						—						—
Recognized in revenue			(222)						(204)						(8)						(8)						—						(1)
Balance at end of period			$	1,004					$	1,086					$	165					$	176					$	—					$	1

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block]

The following tables present the amount of the contract liabilities balance expected to be recognized as revenue when performance obligations are satisfied and the transaction price allocated to the remaining performance obligations under certain contracts as of September 30, 2025.

			Contract Liabilities
			Williams						Transco						NWP
			(Millions)
2025 (three months)			$	60					$	3					$	—
2026 (one year)			173						10						—
2027 (one year)			154						10						—
2028 (one year)			130						11						—
2029 (one year)			95						11						—
Thereafter			392						120						—
Total			$	1,004					$	165					$	—

			Remaining Performance Obligations
			Williams						Transco						NWP
			(Millions)
2025 (three months)			$	1,112					$	761					$	100
2026 (one year)			4,490						2,926						399
2027 (one year)			4,170						2,721						380
2028 (one year)			3,619						2,371						367
2029 (one year)			2,872						1,791						348
Thereafter			15,785						11,401						2,256
Total			$	32,048					$	21,971					$	3,850

Contract With Customer Accounts Receivable

The following is a summary of Williams’ Trade accounts and other receivables:

			September 30, 2025						December 31, 2024
			(Millions)
Accounts receivable related to revenues from contracts with customers			$	1,227					$	1,494
Receivables from derivatives			186						294
Other accounts receivable			67						75
Trade accounts and other receivables			$	1,480					$	1,863

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Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

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Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-5

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Tabular disclosure of expected timing for satisfying remaining performance obligation.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(1)
-SubTopic 10
-Topic 606
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Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables.

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