The following financial data at December 31, 2017 and 2016, and for each of the three years in the period ended December 31, 2017, 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.
2017
2016
2015
2014
2013
(Millions, except per-share amounts)
Revenues (1)
$
8,031
$
7,499
$
7,360
$
7,637
$
6,860
Income (loss) from continuing operations (2)
2,509
(350
)
(1,314
)
2,335
679
Amounts attributable to The Williams Companies, Inc.:
Income (loss) from continuing operations (2)
2,174
(424
)
(571
)
2,110
441
Diluted earnings (loss) per common share:
Income (loss) from continuing operations (2)
2.62
(.57
)
(.76
)
2.91
.64
Total assets at December 31 (3)
46,352
46,835
49,020
50,455
27,065
Commercial paper and long-term debt due within one year at December 31 (4)
501
878
675
802
226
Long-term debt at December 31 (3)
20,434
22,624
23,812
20,780
11,276
Stockholders’ equity at December 31 (3) (5)
9,656
4,643
6,148
8,777
4,864
Cash dividends declared per common share
1.200
1.680
2.450
1.958
1.438
(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 2017 includes a $1.923 billion benefit for income taxes resulting from Tax Reform rate change, a $1.095 billion pre-tax gain on the sale of our Geismar Interest, partially offset by $1.248 billion of pre-tax impairments of certain assets, and $776 million of pre-tax regulatory charges resulting from Tax Reform;
•
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 pre-tax 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 pre-tax 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 pre-tax 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 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.
(4)
The increase in 2014 reflects borrowings under WPZ’s commercial paper program, which was initiated in 2013.
(5)
The increase in 2017 includes our issuance of common stock as part of our Financial Repositioning.
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