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Segment Disclosures (Tables)
6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Reconciliation of revenue from segment to consolidated [Table Text Block]
The following tables present revenues, Modified EBITDA, significant expenses, and certain segment assets measures:
Transmission, Power & GulfNortheast G&PWest
Gas & NGL Marketing Services (1)
Total
(Millions)
Three Months Ended June 30, 2026
Segment revenues:
Service revenues
External$1,214 $526 $408 $— $2,148 
Internal23 68 — 94 
Total service revenues1,237 529 476 — 2,242 
Total service revenues – commodity consideration23 21 — 45 
Product sales
External25 30 623 685 
Internal104 10 198 (75)237 
Total product sales129 17 228 548 922 
Net gain (loss) from commodity derivatives
Realized(4)— (1)(29)(34)
Unrealized— — — 119 119 
Total net gain (loss) from commodity derivatives (2)(4)— (1)90 85 
Total revenues of reportable segments
$1,385 $547 $724 $638 $3,294 
Segment costs and expenses and Proportional Modified EBITDA of equity-method investments:
Product costs and net realized processing commodity expenses(135)(18)(219)(507)
Net unrealized gain (loss) from commodity derivatives within Net processing commodity expenses— — — 
Operating and administrative expenses (3)(300)(109)(166)(18)
Recoverable power, transportation, and storage costs (4)(53)(47)(16)— 
Other segment income (expenses) - net (5)26 (1)(1)
Proportional Modified EBITDA of equity-method investments36 168 35 10 
Total Modified EBITDA of reportable segments$959 $540 $359 $123 $1,981 
Reconciliation of Modified EBITDA:
Contributions from upstream operations, corporate, and other business activities86 
Gain on sale of certain upstream assets (Note 3)
12 
Depreciation, depletion, and amortization expenses(592)
Equity earnings (losses)159 
Other investing income (loss) - net (Note 3)
134 
Interest expense(371)
Accretion expense associated with AROs for nonregulated operations
(24)
Proportional Modified EBITDA of equity-method investments(249)
Income (loss) before income taxes$1,136 
Additions to long-lived segment assets
$1,556 $20 $42 $$1,619 
Transmission, Power & GulfNortheast G&PWest
Gas & NGL Marketing Services (1)
Total
(Millions)
Three Months Ended June 30, 2025
Segment revenues:
Service revenues
External$1,150 $494 $393 $— $2,037 
Internal26 53 — 82 
Total service revenues1,176 497 446 — 2,119 
Total service revenues – commodity consideration28 — 19 — 47 
Product sales
External31 17 31 529 608 
Internal77 27 179 (126)157 
Total product sales108 44 210 403 765 
Net gain (loss) from commodity derivatives
Realized— — 
Unrealized— — — (16)(16)
Total net gain (loss) from commodity derivatives (2)— — (14)(13)
Total revenues of reportable segments$1,312 $541 $676 $389 $2,918 
Segment costs and expenses and Proportional Modified EBITDA of equity-method investments:
Product costs and net realized processing commodity expenses(119)(38)(201)(421)
Net unrealized gain (loss) from commodity derivatives within Net processing commodity expenses— — — 12 
Operating and administrative expenses (3)(286)(113)(150)(19)
Recoverable power, transportation, and storage costs (4)(55)(41)(15)— 
Other segment income (expenses) - net (5)(2)(1)
Proportional Modified EBITDA of equity-method investments37 154 32 
Total Modified EBITDA of reportable segments$891 $501 $341 $(30)$1,703 
Reconciliation of Modified EBITDA:
Contributions from upstream operations, corporate, and other business activities118 
Depreciation, depletion, and amortization expenses(605)
Equity earnings (losses)142 
Other investing income (loss) - net
Interest expense(350)
Accretion expense associated with AROs for nonregulated operations
(24)
Proportional Modified EBITDA of equity-method investments(231)
Income (loss) before income taxes$757 
Additions to long-lived segment assets
$725 $54 $238 $$1,018 
Transmission, Power & GulfNortheast G&PWest
Gas & NGL Marketing Services (1)
Total
(Millions)
Six Months Ended June 30, 2026
Segment revenues:
Service revenues
External$2,476 $1,026 $848 $— $4,350 
Internal48 134 — 189 
Total service revenues2,524 1,033 982 — 4,539 
Total service revenues – commodity consideration49 41 — 91 
Product sales
External61 22 71 1,618 1,772 
Internal197 34 387 (217)401 
Total product sales258 56 458 1,401 2,173 
Net gain (loss) from commodity derivatives
Realized(5)— (2)(156)(163)
Unrealized— — — (73)(73)
Total net gain (loss) from commodity derivatives (2)(5)— (2)(229)(236)
Total revenues of reportable segments$2,826 $1,090 $1,479 $1,172 $6,567 
Segment costs and expenses and Proportional Modified EBITDA of equity-method investments:
Product costs and net realized processing commodity expenses(271)(57)(438)(985)
Net unrealized gain (loss) from commodity derivatives within Net processing commodity expenses— — — 
Operating and administrative expenses (3)(582)(212)(315)(52)
Recoverable power, transportation, and storage costs (4)(125)(97)(36)— 
Other segment income (expenses) - net (5)48 (1)
Proportional Modified EBITDA of equity-method investments73 336 71 28 
Total Modified EBITDA of reportable segments
$1,969 $1,064 $766 $163 $3,962 
Reconciliation of Modified EBITDA:
Contributions from upstream operations, corporate, and other business activities
136 
Gain on sale of certain upstream assets (Note 3)
194 
Depreciation, depletion, and amortization expenses(1,176)
Equity earnings (losses)320 
Other investing income (loss) - net (Note 3)
158 
Interest expense(747)
Accretion expense associated with AROs for nonregulated operations
(47)
Proportional Modified EBITDA of equity-method investments(508)
Income (loss) before income taxes$2,292 
Additions to long-lived segment assets$2,986 $43 $108 $$3,138 
Transmission, Power & GulfNortheast G&PWest
Gas & NGL Marketing Services (1)
Total
(Millions)
Six Months Ended June 30, 2025
Segment revenues:
Service revenues
External$2,263 $987 $786 $— $4,036 
Internal48 98 — 153 
Total service revenues2,311 994 884 — 4,189 
Total service revenues – commodity consideration51 44 — 96 
Product sales
External57 35 71 1,461 1,624 
Internal166 66 403 (319)316 
Total product sales223 101 474 1,142 1,940 
Net gain (loss) from commodity derivatives
Realized(1)— (1)(33)(35)
Unrealized— — — (9)(9)
Total net gain (loss) from commodity derivatives (2)(1)— (1)(42)(44)
Total revenues of reportable segments
$2,584 $1,096 $1,401 $1,100 $6,181 
Segment costs and expenses and Proportional Modified EBITDA of equity-method investments:
Product costs and net realized processing commodity expenses(242)(90)(455)(934)
Net unrealized gain (loss) from commodity derivatives within Net processing commodity expenses— — — 
Operating and administrative expenses (3)
(556)(219)(302)(58)
Recoverable power, transportation, and storage costs (4)
(125)(83)(29)— 
Other segment income (expenses) - net (5)
15 (2)10 
Proportional Modified EBITDA of equity-method investments73 313 70 11 
Total Modified EBITDA of reportable segments
$1,749 $1,015 $695 $122 $3,581 
Reconciliation of Modified EBITDA:
Contributions from upstream operations, corporate, and other business activities
193 
Depreciation, depletion, and amortization expenses
(1,190)
Equity earnings (losses)297 
Other investing income (loss) - net12 
Interest expense(699)
Accretion expense associated with AROs for nonregulated operations
(48)
Proportional Modified EBITDA of equity-method investments(467)
Income (loss) before income taxes$1,679 
Additions to long-lived segment assets
$1,027 $113 $795 $$1,936 
As of June 30, 2026
Equity-method investments by reportable segment$537 $3,183 $432 $289 $4,441 
Segment assets$29,057 $12,279 $12,163 $308 $53,807 
As of December 31, 2025
Equity-method investments by reportable segment$512 $3,236 $460 $292 $4,500 
Segment assets$26,515 $12,533 $12,398 $317 $51,763 
_______________________
(1)    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.
(2)    Williams records transactions that qualify as commodity derivatives at fair value with changes in fair value recognized in earnings in the period of change and characterized as unrealized gains or losses. Gains and losses from commodity derivatives held for energy trading purposes are presented on a net basis in revenue.
(3)    Segment operating and administrative expenses primarily include payroll, maintenance and operating costs and taxes, and general and administrative expenses, including acquisition and transition-related expenses. It also includes project execution, information technology, finance and accounting, real estate and aviation, central engineering services, safety and operational discipline, supply chain and digital transformation, corporate strategic development, human resources, legal and government affairs, and executive and audit support services costs which are centrally managed and allocated to segments.
(4)    Recoverable power, transportation and storage costs are charges incurred which are reimbursable pursuant to FERC stipulations or customer contracts.
(5)    Other segment income (expenses) - net primarily includes equity AFUDC and regulatory credits and charges related to Williams’ regulated operations.