NORTHWEST PIPELINE LLC

CIK:0000110019|SEC Filings

Consolidated Statement of Comprehensive Income (Unaudited) - Williams - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues:
Revenues	$ 3,053	$ 2,781	$ 6,083	$ 5,829
Costs and expenses:
Operating and maintenance expenses	597	572	1,162	1,114
Depreciation, depletion, and amortization expenses	592	605	1,176	1,190
General and administrative expenses	180	168	373	362
Gain on sale of certain assets (Note 3)	(12)	0	(194)	0
Other operating (income) expense – net	(1)	13	(10)	3
Total costs and expenses	1,871	1,836	3,580	3,790
Operating income (loss)	1,182	945	2,503	2,039
Equity earnings (losses)	159	142	320	297
Other investing income (loss) – net (Note 3)	134	4	158	12
Interest expense	(371)	(350)	(747)	(699)
Other income (expense) – net	32	16	58	30
Income (loss) before income taxes	1,136	757	2,292	1,679
Less: Provision (benefit) for income taxes	260	174	504	367
Net income	876	583	1,788	1,312
Less: Net income (loss) attributable to noncontrolling interests	49	37	96	75
Net income	827	546	1,692	1,237
Less: Preferred stock dividends	0	0	1	1
Net income (loss) available to common stockholders	$ 827	$ 546	$ 1,691	$ 1,236
Basic earnings (loss) per common share:
Net income (loss) available to common stockholders - Basic	$ 0.68	$ 0.45	$ 1.38	$ 1.01
Weighted Average Number of Shares Outstanding, Basic	1,224	1,222	1,223	1,221
Diluted earnings (loss) per common share:
Net income (loss) available to common stockholders - Diluted	$ 0.68	$ 0.45	$ 1.38	$ 1.01
Weighted Average Number of Shares Outstanding, Diluted	1,225	1,224	1,226	1,224
Comprehensive income (loss):
Other Comprehensive Income (Loss), Net of Tax	$ (1)	$ 1	$ (3)	$ 1
Comprehensive income (loss)	875	584	1,785	1,313
Less: Comprehensive income (loss) attributable to noncontrolling interests	49	37	96	75
Comprehensive income (loss) attributable to The Williams Companies, Inc.	826	547	1,689	1,238
Service [Member]
Revenues:
Revenues	2,152	2,041	4,358	4,044
NonRegulated Service Commodity Consideration [Member]
Revenues:
Revenues	45	47	91	96
Product [Member]
Revenues:
Revenues	762	657	1,899	1,715
Energy Commodities and Service
Revenues:
Revenues	94	36	(265)	(26)
Oil and Gas, Purchased [Member]
Costs and expenses:
Cost of Goods and Service, Excluding Depreciation, Depletion, and Amortization	509	474	1,052	1,089
Natural Gas Purchased For Shrink [Member]
Costs and expenses:
Cost of Goods and Service, Excluding Depreciation, Depletion, and Amortization	$ 6	$ 4	$ 21	$ 32

Consolidated Statement of Cash Flows (Unaudited) - Williams - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
OPERATING ACTIVITIES:
Net income (loss)	$ 1,788	$ 1,312
Adjustments to reconcile to net cash provided (used) by operating activities:
Depreciation, depletion, and amortization	1,176	1,190
Provision (benefit) for deferred income taxes	492	186
Equity (earnings) losses	(320)	(297)
Distributions from equity-method investees	448	412
Gain on sale of certain assets (Note 3)	(194)	0
Net unrealized (gain) loss from commodity derivative instruments	83	(4)
Gain on disposition of equity-method investments (Note 3)	(127)	0
Inventory write-downs	12	4
Amortization of stock-based awards	39	49
Cash provided (used) by changes in current assets and liabilities:
Accounts receivable	106	301
Inventories	(32)	(61)
Other current assets and deferred charges	(23)	(36)
Accounts payable	(240)	(265)
Other current liabilities	(58)	150
Changes in current and noncurrent commodity derivative assets and liabilities	(56)	19
Other, including changes in noncurrent assets and liabilities	(115)	(77)
Net cash provided (used) by operating activities	2,979	2,883
FINANCING ACTIVITIES:
Proceeds from (payments of) commercial paper – net	(224)	(454)
Proceeds from long-term debt	2,790	2,994
Payments of long-term debt	(1,119)	(975)
Payments for debt issuance costs	(33)	(26)
Proceeds from issuance of common stock	8	5
Common dividends paid	(1,284)	(1,221)
Dividends and distributions paid to noncontrolling interests	(140)	(131)
Contributions from noncontrolling interests	32	19
Other – net	(79)	(57)
Net cash provided (used) by financing activities	(49)	154
INVESTING ACTIVITIES:
Capital expenditures (1)	(3,193)	(1,984)
Dispositions – net (Note 3)	345	(40)
Proceeds from sale of business (Note 7)	48	0
Proceeds from disposition of equity-method investments (Note 3)	6	0
Purchases of and contributions to equity-method investments	(91)	(179)
Other – net	95	9
Net cash provided (used) by investing activities	(2,790)	(2,194)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total	140	843
Cash and cash equivalents at beginning of year	63	60
Cash and cash equivalents at end of period	203	903
Additional Cash Flow Elements and Supplemental Cash Flow Information [Abstract]
(1) Increases to property, plant, and equipment	(3,347)	(2,041)
Changes in related accounts payable and accrued liabilities	154	57
Capital expenditures	$ (3,193)	$ (1,984)

Consolidated Balance Sheet (Unaudited) - Williams - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 203	$ 63
Receivables, Net, Current	1,968	2,084
Inventories	335	314
Assets held for sale (Note 3)	60	318
Derivative assets	159	209
Other current assets and deferred charges	398	256
Total current assets	3,123	3,244
Investments	4,515	4,559
Property, plant, and equipment	65,278	62,010
Accumulated depreciation, depletion, and amortization	(20,868)	(20,014)
Property, plant, and equipment – net	44,410	41,996
Intangible assets – net	6,577	6,763
Regulatory assets, deferred charges, and other	1,985	2,011
Total assets	60,610	58,573
Current liabilities:
Accounts payable	2,220	2,224
Liabilities held for sale (Note 3)	9	63
Derivative Liability, Current	127	135
Other current liabilities	1,518	1,639
Commercial paper	475	700
Long-term debt due within one year	2,197	1,345
Total current liabilities	6,546	6,106
Long-term debt	28,121	27,316
Deferred income tax liabilities	5,596	5,170
Regulatory liabilities, deferred income, and other	4,979	4,986
Contingent liabilities and commitments (Note 9)
Stockholders’ equity:
Preferred stock ($1 par value; 30 million shares authorized at June 30, 2026 and December 31, 2025; 35 thousand shares issued at June 30, 2026 and December 31, 2025)	35	35
Common stock ($1 par value; 1,470 million shares authorized at June 30, 2026 and December 31, 2025; 1,262 million shares issued at June 30, 2026 and 1,261 million shares issued at December 31, 2025)	1,262	1,261
Capital in excess of par value	24,783	24,801
Retained deficit	(11,834)	(12,237)
Accumulated other comprehensive income (loss)	124	127
Treasury stock, at cost (39 million shares at June 30, 2026 and December 31, 2025 of common stock)	(1,180)	(1,180)
Total stockholders’ equity	13,190	12,807
Noncontrolling interests in consolidated subsidiaries	2,178	2,188
Total equity	15,368	14,995
Total liabilities and equity	$ 60,610	$ 58,573