NORTHWEST PIPELINE LLC
For the period ended Sep 30, 2025. Filed Nov 3, 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.
Sep 30, 2025 · Filed Nov 3, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
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NWP
NWP - Results of Operations
| Nine Months Ended September 30, | |||||
|---|---|---|---|---|---|
| 2025 · $ Changefrom2024* · % Changefrom2024* · 2024 | |||||
| (Millions) | |||||
| Revenues: | |||||
| Natural gas transportation service revenues | $320 | $+10 | +3% | $310 | |
| Natural gas storage service revenues | 11 | — | —% | 11 | |
| Other service revenues | 7 | -1 | -13% | 8 | |
| Total revenues | 338 | 329 | |||
| Costs and expenses: | |||||
| Operating and maintenance expenses | 73 | — | —% | 73 | |
| Selling, general, and administrative expenses | 37 | — | —% | 37 | |
| Depreciation and amortization expenses | 88 | -6 | -7% | 82 | |
| Taxes, other than income taxes | 11 | — | —% | 11 | |
| Other (income) expense - net | (16) | +2 | +14% | (14) | |
| Total costs and expenses | 193 | 189 | |||
| Operating income (loss) | 145 | +5 | +4% | 140 | |
| Interest expense | (21) | — | —% | (21) | |
| Allowance for equity and borrowed funds used during construction (AFUDC) | 7 | -1 | -13% | 8 | |
| Other income (expense) – net | 4 | -3 | -43% | 7 | |
| Net income (loss) | $135 | $+1 | +1% | $134 | |
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 increased primarily due to:
An increase in Natural gas transportation service revenues primarily due to rate increases effective April 1, 2025 and an increase in long-term firm transportation, partially offset by one less billing day in 2025 and a decrease in short-term firm transportation;
Partially offset by a decrease in Other service revenues from lower park and loan services.
Depreciation and amortization expenses increased due to additional assets placed in service.
Allowance for equity and borrowed funds used during construction (AFUDC)decreased as a result of lower eligible capital expenditures.
Other income (expense) – net decreased primarily due to a decrease in affiliated interest income on our advances to Williams due to a lower note receivable balance during 2025.
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