The following financial data at December 31, 2019 and 2018, and for each of the three preceding years in the period ended December 31, 2019, 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, FinancialStatements and Supplementary Data of this Form 10-K. All other financial data has been prepared from our accounting records.
Year Ended December 31,
2019
2018
2017
2016
2015
(Millions, except per-share amounts)
Revenues
$
8,201
$
8,686
$
8,031
$
7,499
$
7,360
Income (loss) from continuing operations (1)
729
193
2,509
(350
)
(1,314
)
Amounts attributable to The Williams Companies, Inc. available to common stockholders:
Income (loss) from continuing operations (2)
862
(156
)
2,174
(424
)
(571
)
Diluted income (loss) from continuing operations per common share
.71
(.16
)
2.62
(.57
)
(.76
)
Total assets at December 31
46,040
45,302
46,352
46,835
49,020
Commercial paper, lease liabilities, and long-term debt (including current portions) at December 31
For 2019 includes $464 million of impairments of certain assets, including a $354 million impairment of Constitution’s capitalized project costs, and $186 million impairments of certain equity-method investments, partially offset by a $122 million gain on the sale of our Jackalope equity-method investment;
•
For 2018 includes a $1.849 billion impairment of certain assets located in the Barnett Shale region, partially offset by a $591 million gain on the sale of our Four Corners area assets, a $141 million gain on the deconsolidation of certain Permian assets, and a $101 million gain from the sale of our Gulf Coast pipeline system assets;
•
For 2017 includes a $1.923 billion benefit for income taxes resulting from Tax Reform rate change and 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.
(2)
Income (loss) from continuing operations attributable to the Williams Companies, Inc. available to common stockholders:
•
For 2019 includes benefit of $209 million reflecting the noncontrolling interests’ share of the impairment of Constitution’s capitalized project costs.
(3)
Stockholders’ equity at December 31:
•
For 2019 includes a decrease related to a sale of a partial interest in our Northeast JV business;
•
For 2018 includes an increase reflecting our issuance of common stock associated with our merger with WPZ in August 2018;
•
For 2017 includes increases reflecting our issuance of common stock as part of our Financial Repositioning and a significant increase in our ownership of WPZ.
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