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Williams Reports Year-End 2012 Financial Results

Williams (NYSE: WMB):

       
 
Year-End Summary Financial Information 2012 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 $ 723 $ 1.15 $ 803 $ 1.34
Income (loss) from discontinued operations   136     0.22   (427 )   (0.71 )
Net income $ 859   $ 1.37 $ 376   $ 0.63  
                 
Adjusted income from continuing operations* $ 695   $ 1.11 $ 734   $ 1.23  
 
Quarterly Summary Financial Information 4Q 2012     4Q 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 $ 151 $ 0.23 $ 79 $ 0.13
Loss from discontinued operations   (2 )     (523 )   (0.87 )
Net income (loss) $ 149   $ 0.23   ($444 )   ($0.74 )
                 
Adjusted income from continuing operations* $ 160   $ 0.25 $ 214   $ 0.36  
 

* 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 2012 unaudited net income attributable to Williams of $859 million, or $1.37 per share on a diluted basis, compared with net income of $376 million, or $0.63 per share on a diluted basis for 2011.

The increase in net income for 2012 was primarily due to the absence of a $427 million loss from discontinued operations in 2011. The significant loss from discontinued operations in 2011 was primarily due to significant non-cash property impairment and other charges associated with Williams’ former exploration and production business. The 2012 net income also benefited from $136 million of income from discontinued operations, primarily due to gains following the sale of certain of our former Venezuela operations.

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