WILLIAMS COMPANIES INC
For the period ended Mar 31, 2025. Filed May 5, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 5, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
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NWP
NWP - Results of Operations
| Three Months Ended March 31, | |||||
|---|---|---|---|---|---|
| 2025 · $ Changefrom2024* · % Changefrom2024* · 2024 | |||||
| (Millions) | |||||
| Revenues: | |||||
| Natural gas transportation service revenues | $105 | $-5 | -5% | $110 | |
| Natural gas storage service revenues | 4 | — | —% | 4 | |
| Other service revenues | 2 | -1 | -33% | 3 | |
| Total revenues | 111 | 117 | |||
| Costs and expenses: | |||||
| Operating and maintenance expenses | 21 | +1 | +5% | 22 | |
| Selling, general, and administrative expenses | 13 | -1 | -8% | 12 | |
| Depreciation and amortization expenses | 29 | -2 | -7% | 27 | |
| Taxes, other than income taxes | 4 | -1 | -33% | 3 | |
| Other (income) expense - net | (6) | +3 | +100% | (3) | |
| Total costs and expenses | 61 | 61 | |||
| Operating income (loss) | 50 | -6 | -11% | 56 | |
| Interest expense | (7) | — | —% | (7) | |
| Allowance for equity and borrowed funds used during construction (AFUDC) | 2 | — | —% | 2 | |
| Other income (expense) – net | 1 | -1 | -50% | 2 | |
| Net income (loss) | $46 | $-7 | -13% | $53 | |
Variances due to changes in natural gas prices and transportation volumes have little impact on revenues, because under our rate design methodology, the majority of overall cost of service is recovered through firm capacity reservation charges in our transportation rates.
Revenues decreased primarily due to:
A $5 million decrease in Natural gas transportation service revenues primarily due to a decrease in long-term firm transportation;
A $1 million decrease in Other service revenues from lower park and loan services.
Other (income) expense - net changed favorably primarily as a result of projects transferred to capital.
Operating and maintenance expenses decreased primarily due to lower contract services related to pipeline maintenance inspection activities.
Other income (expense) – net decreased due to lower interest income earned on NWP’s advances to affiliates, which had a reduced balance in 2025.
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