WILLIAMS COMPANIES INC
For the period ended Dec 31, 2023. Filed Feb 21, 2024.
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FY2023 · Filed Feb 21, 2024
WMB$67.46+1.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statement of Cash Flows
Consolidated Statement of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| (Millions) | |||
| OPERATING ACTIVITIES: | |||
| Net income (loss) | $3,303 | $2,117 | $1,562 |
| Adjustments to reconcile to net cash provided (used) by operating activities: | |||
| Depreciation and amortization | 2,071 | 2,009 | 1,842 |
| Provision (benefit) for deferred income taxes | 951 | 431 | 509 |
| Equity (earnings) losses | (589) | (637) | (608) |
| Distributions from equity-method investees (Note 8) | 796 | 865 | 757 |
| Net unrealized (gain) loss from commodity derivative instruments | (660) | 249 | 109 |
| Gain on sale of business (Note 3) | (129) | — | — |
| Inventory write-downs | 30 | 161 | 15 |
| Amortization of stock-based awards | 77 | 73 | 81 |
| Cash provided (used) by changes in current assets and liabilities: | |||
| Accounts receivable | 1,089 | (733) | (545) |
| Inventories | 13 | (110) | (139) |
| Other current assets and deferred charges | 60 | (33) | (63) |
| Accounts payable | (1,009) | 410 | 643 |
| Accrued and other current liabilities | (19) | 209 | 58 |
| Changes in current and noncurrent commodity derivative assets and liabilities | 200 | 94 | (277) |
| Other, including changes in noncurrent assets and liabilities | (246) | (216) | 1 |
| Net cash provided (used) by operating activities | 5,938 | 4,889 | 3,945 |
| FINANCING ACTIVITIES: | |||
| Proceeds from (payments of) commercial paper – net | 372 | 345 | — |
| Proceeds from long-term debt | 2,755 | 1,755 | 2,155 |
| Payments of long-term debt | (634) | (2,876) | (894) |
| Proceeds from issuance of common stock | 6 | 54 | 9 |
| Purchases of treasury stock | (130) | (9) | — |
| Common dividends paid | (2,179) | (2,071) | (1,992) |
| Dividends and distributions paid to noncontrolling interests | (213) | (204) | (187) |
| Contributions from noncontrolling interests | 18 | 18 | 9 |
| Payments for debt issuance costs | (23) | (17) | (26) |
| Other – net | (21) | (37) | (16) |
| Net cash provided (used) by financing activities | (49) | (3,042) | (942) |
| INVESTING ACTIVITIES: | |||
| Property, plant, and equipment: | |||
| Capital expenditures (1) | (2,516) | (2,253) | (1,239) |
| Dispositions - net | (51) | (30) | (8) |
| Proceeds from sale of business (Note 3) | 346 | — | — |
| Purchases of businesses, net of cash acquired (Note 3) | (1,568) | (933) | (151) |
| Purchases of and contributions to equity-method investments (Note 8) | (141) | (166) | (115) |
| Other – net | 39 | 7 | 48 |
| Net cash provided (used) by investing activities | (3,891) | (3,375) | (1,465) |
| Increase (decrease) in cash and cash equivalents | 1,998 | (1,528) | 1,538 |
| Cash and cash equivalents at beginning of year | 152 | 1,680 | 142 |
| Cash and cash equivalents at end of year | $2,150 | $152 | $1,680 |
| _________ | |||
| (1) Increases to property, plant, and equipment | $(2,564) | $(2,394) | $(1,305) |
| Changes in related accounts payable and accrued liabilities | 48 | 141 | 66 |
| Capital expenditures | $(2,516) | $(2,253) | $(1,239) |
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