8-KOther Events

WILLIAMS COMPANIES, INC. 8-K Report (Nov 15, 2002)

Filed November 15, 2002For Securities:WMB

Summary

This 8-K filing by The Williams Companies, Inc. (WMB) on November 15, 2002, primarily serves to disclose information previously communicated during a November 14, 2002, earnings conference call. The key focus for investors is the company's potential need for an additional cash contribution to its pension plan, estimated at approximately $50,000,000 for the fourth quarter of 2002. However, the filing clarifies that this is an ongoing evaluation, and the exact amount, if any, is not yet definitively known. Additionally, the report includes the press release dated November 14, 2002, and a reconciliation of income (loss) from continuing operations to recurring earnings, both filed as exhibits. Investors should review these attached documents for a more detailed understanding of the company's financial performance and management's view on earnings.

Key Highlights

  • 1Williams Companies, Inc. (WMB) filed an 8-K on November 15, 2002.
  • 2The filing discloses information provided during a November 14, 2002, earnings conference call.
  • 3The company mentioned a potential additional cash contribution of approximately $50,000,000 to its pension plan for Q4 2002.
  • 4The exact amount of the pension plan contribution is still under evaluation and unknown at this time.
  • 5The filing includes Williams' press release dated November 14, 2002, as Exhibit 99.1.
  • 6A reconciliation of income (loss) from continuing operations to recurring earnings is also provided as Exhibit 99.2.

Frequently Asked Questions

The primary purpose of this 8-K filing is to formally disclose information previously shared with the public during The Williams Companies' third-quarter earnings conference call on November 14, 2002, in compliance with Regulation FD.

The significant financial event discussed is the company's indication that it may be required to make an additional cash contribution of approximately $50,000,000 to its pension plan during the fourth quarter of 2002.

No, the filing explicitly states that Williams continues to evaluate its pension funding obligations, and an accurate estimate of the potential cash contribution, if any, is unknown at this time. The $50,000,000 figure was mentioned as a preliminary estimate during the conference call.

This 8-K filing includes as exhibits a copy of Williams' press release dated November 14, 2002 (Exhibit 99.1) and a reconciliation of income (loss) from continuing operations to recurring earnings (Exhibit 99.2), which was referenced in the press release.