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Fair Value Measurements and Guarantees (Tables)

9 Months Ended

Sep. 30, 2025

Fair Value Disclosures [Abstract]

Fair Value Assets and Liabilities Measured On Recurring Basis [Table Text Block]

The following table presents, by level within the fair value hierarchy, certain of Williams’, Transco’s, and NWP’s significant financial assets and liabilities. The carrying values of cash and cash equivalents, accounts receivable, accounts payable, and commercial paper approximate fair value because of the short-term nature of these instruments. Therefore, these assets and liabilities are not presented in the following table.

															Fair Value Measurements Using
			Carrying Amount						Fair Value						Quoted Prices In Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
			(Millions)
Assets (liabilities) at September 30, 2025:
Measured on a recurring basis:
ARO Trust - Transco			$	346					$	346					$	346					$	—					$	—
Commodity derivative assets (1)			231						565						367						133						65
Commodity derivative liabilities (1)			(308)						(853)						(459)						(337)						(57)
Additional disclosures:
Guarantees			(35)						(28)						—						(12)						(16)
Debt by issuer, including current portion:
Williams			(21,645)						(21,503)						—						(21,503)						—
Transco			(5,214)						(5,282)						—						(5,282)						—
NWP			(583)						(581)						—						(581)						—
MountainWest			(375)						(382)						—						(382)						—
Total debt			(27,817)						(27,748)						—						(27,748)						—
Assets (liabilities) at December 31, 2024:
Measured on a recurring basis:
ARO Trust - Transco			$	297					$	297					$	297					$	—					$	—
Commodity derivative assets (1)			344						726						427						188						111
Commodity derivative liabilities (1)			(400)						(1,070)						(532)						(475)						(63)
Additional disclosures:
Guarantees			(36)						(28)						—						(12)						(16)
Debt by issuer, including current portion:
Williams			(20,167)						(19,517)						—						(19,517)						—
Transco			(5,235)						(5,276)						—						(5,276)						—
NWP			(582)						(573)						—						(573)						—
MountainWest			(372)						(364)						—						(364)						—
Gulf Coast Storage deferred consideration (Note 3)			(100)						(100)						—						(100)						—
Total debt			(26,456)						(25,830)						—						(25,830)						—

(1)The carrying amount is presented net of counterparty offsetting arrangements and collateral (see Note 9 – Commodity Derivatives).

Debt Securities, Trading, and Equity Securities, FV-NI

Investments within the ARO Trust were as follows:

						September 30, 2025												December 31, 2024
						Amortized Cost Basis						Fair Value						Amortized Cost Basis						Fair Value
						(Millions)
Money market fund						$	30					$	30					$	27					$	27
U.S. equity funds						53						165						53						146
International equity fund						32						50						32						40
Municipal bond fund						104						101						88						84
Total						$	219					$	346					$	200					$	297

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- References

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in net income (trading) and investment in equity security measured at fair value with change in fair value recognized in net income (FV-NI).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6B

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