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Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 2026

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 June 30, 2026
Revenues from contracts with customers:
Service revenues:
Regulated interstate natural gas transportation and storage			$	944					$	—					$	—					$	—					$	—					$	(19)					$	925
Gathering, processing, transportation, fractionation, and storage:
Monetary consideration			261						490						469						—						—						(68)						1,152
Commodity consideration			23						1						21						—						—						—						45
Other			12						26						6						—						—						(6)						38
Total service revenues			1,240						517						496						—						—						(93)						2,160
Product sales			129						17						228						1,096						138						(389)						1,219
Total revenues from contracts with customers			1,369						534						724						1,096						138						(482)						3,379
Other revenues (1)			16						13						—						537						13						(1)						578
Other adjustments (2)			—						—						—						(995)						—						91						(904)
Total revenues			$	1,385					$	547					$	724					$	638					$	151					$	(392)					$	3,053
Three Months Ended June 30, 2025
Revenues from contracts with customers:
Service revenues:
Regulated interstate natural gas transportation and storage			$	927					$	—					$	—					$	—					$	—					$	(21)					$	906
Gathering, processing, transportation, fractionation, and storage:
Monetary consideration			226						460						441						—						—						(55)						1,072
Commodity consideration			28						—						19						—						—						—						47
Other			13						25						5						—						—						(5)						38
Total service revenues			1,194						485						465						—						—						(81)						2,063
Product sales			108						44						210						1,213						137						(397)						1,315
Total revenues from contracts with customers			1,302						529						675						1,213						137						(478)						3,378
Other revenues (1)			10						12						1						596						53						(1)						671
Other adjustments (2)			—						—						—						(1,420)						—						152						(1,268)
Total revenues			$	1,312					$	541					$	676					$	389					$	190					$	(327)					$	2,781

			Transmission, Power & Gulf						Northeast G&P						West						Gas & NGL Marketing Services						Other						Eliminations						Total
			(Millions)
Six Months Ended June 30, 2026
Revenues from contracts with customers:
Service revenues:
Regulated interstate natural gas transportation and storage			$	1,940					$	—					$	—					$	—					$	—					$	(39)					$	1,901
Gathering, processing, transportation, fractionation, and storage:
Monetary consideration			505						958						968						—						—						(135)						2,296
Commodity consideration			49						1						41						—						—						—						91
Other			47						50						13						—						—						(13)						97
Total service revenues			2,541						1,009						1,022						—						—						(187)						4,385
Product sales			258						56						458						3,473						281						(814)						3,712
Total revenues from contracts with customers			2,799						1,065						1,480						3,473						281						(1,001)						8,097
Other revenues (1)			27						25						(1)						1,733						(21)						(2)						1,761
Other adjustments (2)			—						—						—						(4,034)						—						259						(3,775)
Total revenues			$	2,826					$	1,090					$	1,479					$	1,172					$	260					$	(744)					$	6,083
Six Months Ended June 30, 2025
Revenues from contracts with customers:
Service revenues:
Regulated interstate natural gas transportation and storage			$	1,847					$	—					$	—					$	—					$	—					$	(41)					$	1,806
Gathering, processing, transportation, fractionation, and storage:
Monetary consideration			418						922						871						—						—						(100)						2,111
Commodity consideration			51						1						44						—						—						—						96
Other			30						49						12						—						—						(10)						81
Total service revenues			2,346						972						927						—						—						(151)						4,094
Product sales			223						101						474						3,269						292						(888)						3,471
Total revenues from contracts with customers			2,569						1,073						1,401						3,269						292						(1,039)						7,565
Other revenues (1)			15						23						—						1,696						26						(2)						1,758
Other adjustments (2)			—						—						—						(3,865)						—						371						(3,494)
Total revenues			$	2,584					$	1,096					$	1,401					$	1,100					$	318					$	(670)					$	5,829

______________

(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 Comprehensive 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 Comprehensive Income.

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

The following tables present a reconciliation of contract assets:

			Three Months Ended June 30,
			Williams												Transco												NWP
			2026						2025						2026						2025						2026						2025
			(Millions)
Balance at beginning of period			$	112					$	104					$	13					$	14					$	24					$	22
Revenue recognized in excess of amounts invoiced			20						28						—						—						—						1
Minimum volume commitments invoiced			(6)						(30)						—						(1)						—						—
Amortization of contract assets			(13)						—						(1)						—						—						—
Balance at end of period			$	113					$	102					$	12					$	13					$	24					$	23
			Six Months Ended June 30,
			Williams												Transco												NWP
			2026						2025						2026						2025						2026						2025
			(Millions)
Balance at beginning of period			$	109					$	98					$	13					$	10					$	24					$	21
Revenue recognized in excess of amounts invoiced			37						58						—						4						—						3
Minimum volume commitments invoiced			(10)						(53)						—						(1)						—						—
Amortization of contract assets			(23)						(1)						(1)						—						—						(1)
Balance at end of period			$	113					$	102					$	12					$	13					$	24					$	23

Contract Liabilities

The following tables present a reconciliation of contract liabilities:

			Three Months Ended June 30,
			Williams												Transco
			2026						2025						2026						2025
			(Millions)
Balance at beginning of period			$	917					$	1,016					$	160					$	171
Payments received and deferred			86						86						—						—
Liabilities acquired and other additions			—						23						—						—
Significant financing component			1						2						—						—
Recognized in revenue			(72)						(73)						(3)						(3)
Balance at end of period			$	932					$	1,054					$	157					$	168
			Six Months Ended June 30,
			Williams												Transco
			2026						2025						2026						2025
			(Millions)
Balance at beginning of period			$	948					$	1,046					$	163					$	173
Payments received and deferred			127						120						—						—
Liabilities acquired and other additions			—						23						—						—
Significant financing component			3						4						—						—
Recognized in revenue			(146)						(139)						(6)						(5)
Balance at end of period			$	932					$	1,054					$	157					$	168

The following table presents the amount of the contract liabilities balance expected to be recognized as revenue when performance obligations are satisfied as of June 30, 2026:

			Contract Liabilities
			Williams						Transco
			(Millions)
2026 (six months)			$	110					$	5
2027 (one year)			165						11
2028 (one year)			130						11
2029 (one year)			98						10
2030 (one year)			72						10
Thereafter			357						110
Total			$	932					$	157

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

The following table presents the transaction price allocated to the remaining performance obligations under certain contracts as of June 30, 2026:

			Remaining Performance Obligations
			Williams						Transco						NWP
			(Millions)
2026 (six months)			$	2,271					$	1,511					$	201
2027 (one year)			4,425						2,877						399
2028 (one year)			3,968						2,635						375
2029 (one year)			3,379						2,222						349
2030 (one year)			2,800						1,842						343
Thereafter			13,892						10,055						1,930
Total			$	30,735					$	21,142					$	3,597

Contract With Customer Accounts Receivable [Table Text Block]

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

			June 30, 2026						December 31, 2025
			(Millions)
Accounts receivable related to revenues from contracts with customers			$	1,557					$	1,532
Receivables from derivatives			148						444
Other accounts receivable			263						108
Trade accounts and other receivables			$	1,968					$	2,084

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- Definition

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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- Definition

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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- Definition

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
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

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- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481962/310-10-50-3

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481990/310-10-45-2

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