The Williams Companies Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	2,618	2,225	3,179	2,049	1,517
Depreciation & Amortization	2,347	2,219	2,071	2,009	1,842
Loss (Gain) From Sale of Assets	-	-	-129	-	-
Asset Writedown & Restructuring Costs	212	-	10	-	-
Loss (Gain) From Sale of Investments	-	-276	-30	-	-
Loss (Gain) on Equity Investments	40	229	207	228	149
Stock-Based Compensation	93	99	77	73	81
Other Operating Activities	752	1,004	445	909	678
Change in Accounts Receivable	-219	-169	1,089	-733	-545
Change in Inventory	-45	-9	13	-110	-139
Change in Accounts Payable	115	139	-1,009	410	643
Change in Other Net Operating Assets	-15	-487	15	54	-281
Operating Cash Flow	5,898	4,974	5,938	4,889	3,945
Operating Cash Flow Growth	18.58%	-16.23%	21.46%	23.93%	12.84%
Capital Expenditures	-4,999	-2,678	-2,567	-2,283	-1,247
Cash Acquisitions	-1	-2,244	-1,568	-933	-151
Divestitures	-	-	346	-	-
Investment in Securities	-511	47	-141	-166	-115
Other Investing Activities	22	12	39	7	48
Investing Cash Flow	-5,489	-4,863	-3,891	-3,375	-1,465
Short-Term Debt Issued	245	-	372	345	-
Long-Term Debt Issued	4,940	3,594	2,755	1,755	2,155
Total Debt Issued	5,185	3,594	3,127	2,100	2,155
Short-Term Debt Repaid	-	-269	-	-	-
Long-Term Debt Repaid	-2,827	-2,946	-634	-2,876	-894
Total Debt Repaid	-2,827	-3,215	-634	-2,876	-894
Net Debt Issued (Repaid)	2,358	379	2,493	-776	1,261
Issuance of Common Stock	9	10	6	54	9
Repurchase of Common Stock	-	-	-130	-9	-
Common Dividends Paid	-2,442	-2,316	-2,179	-2,071	-1,992
Other Financing Activities	-331	-274	-239	-240	-220
Financing Cash Flow	-406	-2,201	-49	-3,042	-942
Net Cash Flow	3	-2,090	1,998	-1,528	1,538
Free Cash Flow	899	2,296	3,371	2,606	2,698
Free Cash Flow Growth	-60.85%	-31.89%	29.35%	-3.41%	21.48%
Free Cash Flow Margin	7.60%	21.35%	33.88%	22.96%	25.04%
Free Cash Flow Per Share	0.73	1.88	2.76	2.13	2.21
Cash Interest Paid	1,404	1,293	1,152	1,117	1,137
Cash Income Tax Paid	162	68	31	13	-45
Levered Free Cash Flow	-353.5	1,026	1,588	1,162	1,533
Unlevered Free Cash Flow	547.75	1,878	2,360	1,879	2,269
Change in Working Capital	-164	-526	108	-379	-322

Source: S&P Global Market Intelligence. Standard template. Financial Sources.