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Williams Reports Third-Quarter 2012 Financial Results

Williams (NYSE: WMB):
       
 
Quarterly Summary Financial Information 3Q 2012 3Q 2011
Per share amounts are reported on a diluted basis. All amounts are attributable to The Williams Companies, Inc. millions per share millions per share
 
Income from continuing operations $ 152 $ 0.25 $ 253 $ 0.43
Income from discontinued operations   3     19   0.03
Net income $ 155 $ 0.25 $ 272 $ 0.46
                 
Adjusted income from continuing operations* $ 161 $ 0.25 $ 179 $ 0.30
 
Year-to-Date Summary Financial Information YTD 2012 YTD 2011
Per share amounts are reported on a diluted basis. All amounts are attributable to The Williams Companies, Inc. millions per share   millions per share
 
Income from continuing operations $ 572 $ 0.93 $ 724 $ 1.21
Income from discontinued operations   138   0.22   96   0.16
Net income $ 710 $ 1.15 $ 820 $ 1.37
                 
Adjusted income from continuing operations* $ 535 $ 0.86 $ 520 $ 0.87
 

* A schedule reconciling income from continuing operations to adjusted income from continuing operations (non-GAAP measures) is available at www.williams.com and as an attachment to this press release.
 

Williams (NYSE: WMB) announced third-quarter 2012 unaudited net income attributable to Williams of $155 million, or $0.25 per share on a diluted basis, compared with net income of $272 million, or $0.46 per share on a diluted basis for third-quarter 2011.

Lower natural gas liquid (NGL) margins at Williams Partners drove the decline in net income during third-quarter 2012. Increased costs associated with developing businesses Williams Partners acquired earlier in the year and the absence of a $66 million income tax benefit in third-quarter 2011 related to undistributed earnings of certain foreign operations also contributed to the decline. These declines were partially offset by higher fee-based revenues at Williams Partners.

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