2015 Q4 Form 8-K Financial Statement

#000010726317000009 Filed on May 25, 2017

View on sec.gov

Income Statement

Concept 2015 Q4 2014 Q4 2014 Q2
Revenue $2.006B $2.141B $1.678B
YoY Change -6.31% 28.98% -5.04%
Cost Of Revenue $397.0M $716.0M $724.0M
YoY Change -44.55% -1.38% -9.61%
Gross Profit $1.609B $1.425B $954.0M
YoY Change 12.91% 52.57% -1.24%
Gross Profit Margin 80.21% 66.56% 56.85%
Selling, General & Admin $622.0M $678.0M $136.0M
YoY Change -8.26% 67.82% 10.57%
% of Gross Profit 38.66% 47.58% 14.26%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $451.0M $379.0M $214.0M
YoY Change 19.0% 81.34% 8.08%
% of Gross Profit 28.03% 26.6% 22.43%
Operating Expenses $1.260B $894.0M $136.0M
YoY Change 40.94% 33.23% 10.57%
Operating Profit $349.0M $531.0M $311.0M
YoY Change -34.27% 101.9% -11.14%
Interest Expense -$169.0M -$123.0M $163.0M
YoY Change 37.4% 73.24% -426.0%
% of Operating Profit -48.42% -23.16% 52.41%
Other Income/Expense, Net $32.00M $16.00M $4.000M
YoY Change 100.0% -1700.0% 100.0%
Pretax Income -$1.784B $424.0M $207.0M
YoY Change -520.75% 121.99% -31.46%
Income Tax -$447.0M $116.0M $84.00M
% Of Pretax Income 27.36% 40.58%
Net Earnings -$715.0M $193.0M $103.0M
YoY Change -470.47% -1478.57% -27.46%
Net Earnings / Revenue -35.64% 9.01% 6.14%
Basic Earnings Per Share $0.15
Diluted Earnings Per Share -$954.2K $256.7K $0.15
COMMON SHARES
Basic Shares Outstanding 749.8M shares 747.5M shares 696.6M shares
Diluted Shares Outstanding 700.7M shares

Balance Sheet

Concept 2015 Q4 2014 Q4 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $100.0M $240.0M $860.0M
YoY Change -58.33% -64.76% 4.37%
Cash & Equivalents $100.0M $240.0M $860.0M
Short-Term Investments
Other Short-Term Assets $259.0M $213.0M $193.0M
YoY Change 21.6% 99.07% 132.53%
Inventory $127.0M $231.0M $276.0M
Prepaid Expenses
Receivables $1.041B $972.0M $576.0M
Other Receivables $0.00 $167.0M $82.00M
Total Short-Term Assets $1.527B $1.890B $2.119B
YoY Change -19.21% 12.3% 8.89%
LONG-TERM ASSETS
Property, Plant & Equipment $29.58B $28.08B $19.44B
YoY Change 5.33% 54.21% 17.13%
Goodwill $47.00M $1.120B $646.0M
YoY Change -95.8% 73.37% 0.0%
Intangibles $9.970B $10.45B $1.616B
YoY Change -4.62% 535.83% -3.46%
Long-Term Investments $7.336B $8.400B $4.489B
YoY Change -12.67% 92.66% 8.56%
Other Assets $561.0M $511.0M $642.0M
YoY Change 9.78% -14.69% -2.28%
Total Long-Term Assets $47.49B $48.57B $32.83B
YoY Change -2.21% 90.76% 38.46%
TOTAL ASSETS
Total Short-Term Assets $1.527B $1.890B $2.119B
Total Long-Term Assets $47.49B $48.57B $32.83B
Total Assets $49.02B $50.46B $34.95B
YoY Change -2.84% 85.89% 36.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $744.0M $865.0M $990.0M
YoY Change -13.99% -9.9% 2.17%
Accrued Expenses $1.078B $900.0M $655.0M
YoY Change 19.78% 12.92% -5.21%
Deferred Revenue
YoY Change
Short-Term Debt $499.0M $798.0M $0.00
YoY Change -37.47% 254.67% -100.0%
Long-Term Debt Due $176.0M $4.000M $751.0M
YoY Change 4300.0% 300.0% 75000.0%
Total Short-Term Liabilities $2.497B $2.567B $2.396B
YoY Change -2.73% 29.45% 1.05%
LONG-TERM LIABILITIES
Long-Term Debt $23.81B $20.78B $15.54B
YoY Change 14.59% 83.04% 50.0%
Other Long-Term Liabilities $2.268B $2.224B $1.434B
YoY Change 1.98% 64.01% -19.17%
Total Long-Term Liabilities $26.08B $23.00B $16.97B
YoY Change 13.37% 81.01% 39.89%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.497B $2.567B $2.396B
Total Long-Term Liabilities $26.08B $23.00B $16.97B
Total Liabilities $42.87B $41.68B $27.09B
YoY Change 2.86% 87.08% 29.21%
SHAREHOLDERS EQUITY
Retained Earnings -$7.960B -$5.548B -$6.574B
YoY Change 43.48% -11.2% 12.13%
Common Stock $15.59B $15.71B $15.67B
YoY Change -0.74% 27.52% 30.69%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.041B $1.041B $1.041B
YoY Change 0.0% 0.0% 0.0%
Treasury Stock Shares 35.00M shares 35.00M shares 35.00M shares
Shareholders Equity $6.148B $8.777B $7.863B
YoY Change
Total Liabilities & Shareholders Equity $49.02B $50.46B $34.95B
YoY Change -2.84% 85.89% 36.22%

Cashflow Statement

Concept 2015 Q4 2014 Q4 2014 Q2
OPERATING ACTIVITIES
Net Income -$715.0M $193.0M $103.0M
YoY Change -470.47% -1478.57% -27.46%
Depreciation, Depletion And Amortization $451.0M $379.0M $214.0M
YoY Change 19.0% 81.34% 8.08%
Cash From Operating Activities $622.0M $1.011B $313.0M
YoY Change -38.48% 96.31% -53.14%
INVESTING ACTIVITIES
Capital Expenditures -$742.0M -$1.088B -$1.046B
YoY Change -31.8% 5.63% 28.03%
Acquisitions
YoY Change
Other Investing Activities $150.0M -$59.00M -$5.898B
YoY Change -354.24% -50.42% 5739.6%
Cash From Investing Activities -$592.0M -$1.147B -$6.944B
YoY Change -48.39% -0.17% 656.43%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $3.378B
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -55.00M 74.00M 6.427B
YoY Change -174.32% -87.31% 1627.69%
NET CHANGE
Cash From Operating Activities 622.0M 1.011B 313.0M
Cash From Investing Activities -592.0M -1.147B -6.944B
Cash From Financing Activities -55.00M 74.00M 6.427B
Net Change In Cash -25.00M -62.00M -204.0M
YoY Change -59.68% 21.57% -267.21%
FREE CASH FLOW
Cash From Operating Activities $622.0M $1.011B $313.0M
Capital Expenditures -$742.0M -$1.088B -$1.046B
Free Cash Flow $1.364B $2.099B $1.359B
YoY Change -35.02% 35.86% -8.48%

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2400000000 USD
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1900000000 USD
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440000000 USD
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460000000 USD
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1450000000 USD
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0 USD
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0 USD
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0 USD
CY2016Q4 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
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0 USD
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356000000 USD
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356000000 USD
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0 USD
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0.00
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0.01
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0.00
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397000000 USD
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75000000 USD
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35000000 USD
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22000000 USD
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5000000 USD
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82000000 USD
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3000000 USD
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37000000 USD
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29000000 USD
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2497000000 USD
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2949000000 USD
us-gaap Limited Liability Company Llc Or Limited Partnership Lp Managing Member Or General Partner Ownership Interest
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176000000 USD
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785000000 USD
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1350000000 USD
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3680000000 USD
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1580000000 USD
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54000000 USD
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46000000 USD
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51000000 USD
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35000000 USD
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25000000 USD
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44000000 USD
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126000000 USD
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74000000 USD
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38000000 USD
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InvestmentIncomeNonoperating
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InvestmentIncomeNonoperating
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1000000 USD
CY2015 us-gaap Other Comprehensive Income Defined Benefit Plan Net Prior Service Costs Credit Arising During Period Net Of Tax
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0 USD
CY2016 us-gaap Other Comprehensive Income Defined Benefit Plan Net Prior Service Costs Credit Arising During Period Net Of Tax
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0 USD
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8000000 USD
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5000000 USD
CY2016 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
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CY2014 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
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CY2015 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
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CY2016 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
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CY2014 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
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CY2015 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
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CY2014 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2015 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Benefit Plan Improvement Tax Effect
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CY2016 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Benefit Plan Improvement Tax Effect
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CY2015 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
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CY2015 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
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CY2014 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
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0 USD
CY2014 wmb Contributions From Noncontrolling Interests
ContributionsFromNoncontrollingInterests
340000000 USD
CY2015 wmb Contributions From Noncontrolling Interests
ContributionsFromNoncontrollingInterests
111000000 USD
CY2016 wmb Contributions From Noncontrolling Interests
ContributionsFromNoncontrollingInterests
29000000 USD
CY2016Q4 wmb Customer Refundable Fees Contracted
CustomerRefundableFeesContracted
240000000 USD
CY2014 wmb Deferred Income Tax Expense Benefit From Continuing And Discontinued Operations
DeferredIncomeTaxExpenseBenefitFromContinuingAndDiscontinuedOperations
1264000000 USD
CY2015 wmb Deferred Income Tax Expense Benefit From Continuing And Discontinued Operations
DeferredIncomeTaxExpenseBenefitFromContinuingAndDiscontinuedOperations
-337000000 USD
CY2016 wmb Deferred Income Tax Expense Benefit From Continuing And Discontinued Operations
DeferredIncomeTaxExpenseBenefitFromContinuingAndDiscontinuedOperations
-26000000 USD
CY2016Q4 wmb Employee Sharebased Compensation Tax Benefit Excluded From Deferred Income Tax Assets
EmployeeSharebasedCompensationTaxBenefitExcludedFromDeferredIncomeTaxAssets
38000000 USD
CY2014 wmb Equity Method Investment Summarized Financial Information Operating Income
EquityMethodInvestmentSummarizedFinancialInformationOperatingIncome
534000000 USD
CY2015 wmb Equity Method Investment Summarized Financial Information Operating Income
EquityMethodInvestmentSummarizedFinancialInformationOperatingIncome
690000000 USD
CY2016 wmb Equity Method Investment Summarized Financial Information Operating Income
EquityMethodInvestmentSummarizedFinancialInformationOperatingIncome
799000000 USD
CY2014 wmb Impairment Of And Net Gain Loss On Sale Of Assets And Businesses
ImpairmentOfAndNetGainLossOnSaleOfAssetsAndBusinesses
67000000 USD
CY2015 wmb Impairment Of And Net Gain Loss On Sale Of Assets And Businesses
ImpairmentOfAndNetGainLossOnSaleOfAssetsAndBusinesses
215000000 USD
CY2016 wmb Impairment Of And Net Gain Loss On Sale Of Assets And Businesses
ImpairmentOfAndNetGainLossOnSaleOfAssetsAndBusinesses
918000000 USD
CY2014 wmb Income Tax Reconciliation Translation Adjustment Of Certain Unrecognized Tax Benefits
IncomeTaxReconciliationTranslationAdjustmentOfCertainUnrecognizedTaxBenefits
0 USD
CY2015 wmb Income Tax Reconciliation Translation Adjustment Of Certain Unrecognized Tax Benefits
IncomeTaxReconciliationTranslationAdjustmentOfCertainUnrecognizedTaxBenefits
-71000000 USD
CY2016 wmb Income Tax Reconciliation Translation Adjustment Of Certain Unrecognized Tax Benefits
IncomeTaxReconciliationTranslationAdjustmentOfCertainUnrecognizedTaxBenefits
-1000000 USD
CY2014 wmb Increase Decrease In Accounts Payable And Accrued Liabilities Related To Capital Expenditures Incurred But Not Yet Paid
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-115000000 USD
CY2015 wmb Increase Decrease In Accounts Payable And Accrued Liabilities Related To Capital Expenditures Incurred But Not Yet Paid
IncreaseDecreaseInAccountsPayableAndAccruedLiabilitiesRelatedToCapitalExpendituresIncurredButNotYetPaid
-143000000 USD
CY2016 wmb Increase Decrease In Accounts Payable And Accrued Liabilities Related To Capital Expenditures Incurred But Not Yet Paid
IncreaseDecreaseInAccountsPayableAndAccruedLiabilitiesRelatedToCapitalExpendituresIncurredButNotYetPaid
-139000000 USD
CY2014Q4 wmb Long Lived Assets
LongLivedAssets
39654000000 USD
CY2015Q4 wmb Long Lived Assets
LongLivedAssets
39596000000 USD
CY2016Q4 wmb Long Lived Assets
LongLivedAssets
38091000000 USD
CY2016 wmb Maximum Percentage Of Portfolio Invested In Debt Securities Of Any One Issuer With Exception Of Us Government Guaranteed And Agency Securities
MaximumPercentageOfPortfolioInvestedInDebtSecuritiesOfAnyOneIssuerWithExceptionOfUsGovernmentGuaranteedAndAgencySecurities
0.05
CY2016 wmb Maximum Percentage Of Total Stock Portfolio Invested In Common Stock Of Any One Corporation
MaximumPercentageOfTotalStockPortfolioInvestedInCommonStockOfAnyOneCorporation
0.05
CY2016 wmb Minimum Period Of Construction For Capitalization Of Interest
MinimumPeriodOfConstructionForCapitalizationOfInterest
P3M
CY2016 wmb Minimum Total Project Cost For Capitalization Of Interest
MinimumTotalProjectCostForCapitalizationOfInterest
1000000 USD
CY2014 wmb Modified Ebitda Earnings Loss
ModifiedEbitdaEarningsLoss
3232000000 USD
CY2015 wmb Modified Ebitda Earnings Loss
ModifiedEbitdaEarningsLoss
3891000000 USD
CY2016 wmb Modified Ebitda Earnings Loss
ModifiedEbitdaEarningsLoss
3322000000 USD
CY2014 wmb Proportional Modified Ebitda Equity Method Investments
ProportionalModifiedEbitdaEquityMethodInvestments
438000000 USD
CY2015 wmb Proportional Modified Ebitda Equity Method Investments
ProportionalModifiedEbitdaEquityMethodInvestments
699000000 USD
CY2016 wmb Proportional Modified Ebitda Equity Method Investments
ProportionalModifiedEbitdaEquityMethodInvestments
754000000 USD
CY2016Q4 wmb Restricted Net Assets Threshold
RestrictedNetAssetsThreshold
0.25
CY2014 wmb Special Distribution From Gulfstream
SpecialDistributionFromGulfstream
0 USD
CY2015 wmb Special Distribution From Gulfstream
SpecialDistributionFromGulfstream
396000000 USD
CY2016 wmb Special Distribution From Gulfstream
SpecialDistributionFromGulfstream
0 USD
CY2016Q4 wmb Threshold For Amortization Of Unrecognized Actuarial Gains Losses
ThresholdForAmortizationOfUnrecognizedActuarialGainsLosses
0.1
CY2016 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:13px;text-indent:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of estimates</font></div><div style="line-height:120%;padding-top:13px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates.</font></div><div style="line-height:120%;padding-top:13px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Significant estimates and assumptions include:</font></div><table cellpadding="0" cellspacing="0" style="padding-top:12px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:12pt;padding-left:24px;"><font style="font-family:inherit;font-size:12pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:10pt;">Impairment assessments of investments, property, plant, and equipment, goodwill, and other identifiable intangible assets;</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:12px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:12pt;padding-left:24px;"><font style="font-family:inherit;font-size:12pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:10pt;">Litigation-related contingencies;</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:12px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:12pt;padding-left:24px;"><font style="font-family:inherit;font-size:12pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:10pt;">Environmental remediation obligations;</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:12px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:12pt;padding-left:24px;"><font style="font-family:inherit;font-size:12pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:10pt;">Realization of deferred income tax assets;</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:12px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:12pt;padding-left:24px;"><font style="font-family:inherit;font-size:12pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:10pt;">Depreciation and/or amortization of equity-method investment basis differences;</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:12px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:12pt;padding-left:24px;"><font style="font-family:inherit;font-size:12pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:10pt;">Asset retirement obligations;</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:12px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:12pt;padding-left:24px;"><font style="font-family:inherit;font-size:12pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:10pt;">Pension and postretirement valuation variables;</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:12px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:12pt;padding-left:24px;"><font style="font-family:inherit;font-size:12pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:10pt;">Acquisition related purchase price allocations.</font></div></td></tr></table><div style="line-height:120%;padding-top:13px;text-align:justify;padding-left:48px;text-indent:-24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">These estimates are discussed further throughout these notes.</font></div></div>
CY2016 us-gaap Revenue Recognition Deferred Revenue
RevenueRecognitionDeferredRevenue
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:13px;text-indent:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Deferred income</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We record a liability for deferred income related to cash received from customers in advance of providing our services.&#160; Such amounts are generally recognized in revenue upon satisfying our performance obligations, primarily providing services based on units of production or over remaining contractual service periods ranging from </font><font style="font-family:inherit;font-size:10pt;">1</font><font style="font-family:inherit;font-size:10pt;"> to </font><font style="font-family:inherit;font-size:10pt;">25</font><font style="font-family:inherit;font-size:10pt;"> years.&#160; Deferred income</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;"> </font><font style="font-family:inherit;font-size:10pt;">is reflected within </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Accrued liabilities</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> </font><font style="font-family:inherit;font-size:10pt;">and </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Regulatory liabilities, deferred income, and other</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> </font><font style="font-family:inherit;font-size:10pt;">on the </font><font style="font-family:inherit;font-size:10pt;">Consolidated Balance Sheet</font><font style="font-family:inherit;font-size:10pt;">.&#160; (See </font><font style="font-family:inherit;font-size:10pt;">Note 13 &#8211; Accrued Liabilities</font><font style="font-family:inherit;font-size:10pt;">.)&#160; </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">During 2016, we received cash proceeds totaling </font><font style="font-family:inherit;font-size:10pt;">$820 million</font><font style="font-family:inherit;font-size:10pt;"> associated with restructuring certain gas gathering contracts in the Barnett Shale and Mid-Continent regions. The proceeds were recorded as deferred income</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;"> </font><font style="font-family:inherit;font-size:10pt;">and are being amortized into income in 2016 and future periods.</font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In October 2016, we received </font><font style="font-family:inherit;font-size:10pt;">$104 million</font><font style="font-family:inherit;font-size:10pt;"> of newly constructed assets as part of a noncash investing transaction with a customer for which we provide production handling and other services. The transaction was recorded in </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Property, plant, and equipment &#8211; net</font><font style="font-family:inherit;font-size:10pt;"> and deferred income in the </font><font style="font-family:inherit;font-size:10pt;">Consolidated Balance Sheet</font><font style="font-family:inherit;font-size:10pt;"> and is being amortized based on units of production through 2024. Due to the noncash nature of this transaction, it is not presented within the </font><font style="font-family:inherit;font-size:10pt;">Consolidated Statement of Cash Flows</font><font style="font-family:inherit;font-size:10pt;">.</font></div></div>
CY2016 wmb Equity Method Investment Basis Difference Policy Policy Textblock
EquityMethodInvestmentBasisDifferencePolicyPolicyTextblock
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:13px;text-indent:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Equity-method investment basis differences</font></div><div style="line-height:120%;padding-top:13px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Differences between the cost of our equity-method investments and our underlying equity in the net assets of investees are accounted for as if the investees were consolidated subsidiaries. </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Equity earnings (losses)</font><font style="font-family:inherit;font-size:10pt;"> in the </font><font style="font-family:inherit;font-size:10pt;color:#000000;font-weight:normal;text-decoration:none;">Consolidated Statement of Operations</font><font style="font-family:inherit;font-size:10pt;"> includes our allocable share of net income (loss) of investees adjusted for any depreciation and amortization, as applicable, associated with basis differences.</font></div></div>

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