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	2,768	2,346	3,303	2,117	1,562
Depreciation & Amortization	2,347	2,219	2,071	2,009	1,842
Stock-Based Compensation	93	99	77	73	81
Other Adjustments	642	1,048	379	1,069	782
Change in Receivables	-219	-169	1,089	-733	-545
Changes in Inventories	-45	-9	13	-110	-139
Changes in Accounts Payable	115	139	-1,009	410	643
Changes in Other Operating Activities	-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	-4,893	-2,573	-2,516	-2,253	-1,239
Sale of Property, Plant & Equipment	-106	-105	-51	-30	-8
Purchases of Investments	-511	-114	-141	-166	-115
Proceeds from Sale of Investments	-	161	-	-	-
Payments for Business Acquisitions	-1	-2,244	-1,568	-933	-151
Proceeds from Business Divestments	-	-	346	-	-
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	-269	372	345	-
Net Short-Term Debt Issued (Repaid)	245	-269	372	345	-
Long-Term Debt Issued	4,940	3,594	2,755	1,755	2,155
Long-Term Debt Repaid	-2,827	-2,946	-634	-2,876	-894
Net Long-Term Debt Issued (Repaid)	2,113	648	2,121	-1,121	1,261
Issuance of Common Stock	9	10	6	54	9
Repurchase of Common Stock	-	-	-130	-9	-
Net Common Stock Issued (Repurchased)	9	10	-124	45	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	1,005	2,401	3,422	2,636	2,706
Free Cash Flow Growth	-58.14%	-29.84%	29.82%	-2.59%	19.89%
FCF Margin	8.41%	22.86%	31.37%	24.04%	25.46%
Free Cash Flow Per Share	0.82	1.96	2.80	2.16	2.22
Levered Free Cash Flow	5,103	4,118	7,425	3,432	5,121
Unlevered Free Cash Flow	713.01	1,912	1,901	2,623	2,808

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.