The following financial data at December 31, 2016 and 2015, and for each of the three years in the period ended December 31, 2016, should be read in conjunction with the other financial information included in Part II, Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations and Part II, Item 8, Financial Statements and Supplementary Data of this Form 10-K. All other financial data has been prepared from our accounting records.
2016
2015
2014
2013
2012
(Millions, except per-share amounts)
Revenues (1)
$
7,499
$
7,360
$
7,637
$
6,860
$
7,486
Income (loss) from continuing operations (2)
(350
)
(1,314
)
2,335
679
929
Amounts attributable to The Williams Companies, Inc.:
Income (loss) from continuing operations (2)
(424
)
(571
)
2,110
441
723
Diluted earnings (loss) per common share:
Income (loss) from continuing operations (2)
(.57
)
(.76
)
2.91
.64
1.15
Total assets at December 31 (3)
46,835
49,020
50,455
27,065
24,248
Commercial paper and long-term debt due within one year at December 31 (4)
878
675
802
226
1
Long-term debt at December 31 (3)
22,624
23,812
20,780
11,276
10,656
Stockholders’ equity at December 31 (3)
4,643
6,148
8,777
4,864
4,752
Cash dividends declared per common share
1.680
2.450
1.9575
1.438
1.196
(1)
Revenues for 2014 increased reflecting the consolidation of ACMP beginning in third quarter and new Canadian construction management services.
(2)
Income (loss) from continuing operations:
•
For 2016 includes an $873 million impairment of certain assets and a $430 million impairment of certain equity-method investments;
•
For 2015 includes a $1.4 billion impairment of certain equity-method investments and a $1.1 billion impairment of goodwill;
•
For 2014 includes $2.5 billion pretax gain recognized as a result of remeasuring to fair value the equity-method investment we held before we acquired a controlling interest in ACMP, $246 million of insurance recoveries related to the 2013 Geismar Incident, and $154 million of cash received related to a contingency settlement. 2014 also includes $78 million of pretax equity losses from Bluegrass Pipeline and Moss Lake related primarily to the underlying write-off of previously capitalized project development costs and $76 million of pretax acquisition, merger, and transition expenses related to our acquisition of ACMP;
•
For 2013 includes $99 million of deferred income tax expense incurred on undistributed earnings of our foreign operations that are no longer considered permanently reinvested.
(3)
The increases in 2014 reflect assets acquired and debt assumed primarily related to our acquisition of ACMP (see Note 2 – Acquisitions) in third quarter as well as $1.9 billion of related debt issuances and $2.8 billion of debt issuances at WPZ. Additionally, we issued $3.4 billion of equity (see Note 15 – Stockholders' Equity).
(4)
The increases in 2014 and 2013 reflect borrowings under WPZ’s commercial paper program, which was initiated in 2013.
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