What is the main purpose of this 8-K filing?

The primary purpose of this 8-K filing by Williams Companies, Inc. on May 13, 2003, is to furnish a press release and a reconciliation of its financial results to the public under Regulation FD. It's not reporting a new, material event but rather disseminating information the company has already prepared.

What does it mean that the information is "furnished" and not "filed"?

When information is "furnished" under Regulation FD, it means the company is making it available to the public but it is not subject to the same legal liabilities as if it were formally "filed" with the SEC. Specifically, it is not deemed filed for the purposes of Section 18 of the Securities Exchange Act of 1934, and it generally won't be automatically incorporated by reference into other SEC filings like the company's registration statements.

WMB 8-K SEC Disclosure — May 13, 2003

Q: What is the significance of the "Reconciliation of Income (Loss) from Continuing Operations to Recurring Earnings"?

This reconciliation is significant because it suggests that Williams Companies is providing investors with a non-GAAP measure of performance. It likely aims to present a clearer picture of the company's core, ongoing operational profitability by adjusting the reported income from continuing operations to exclude items that are considered unusual, infrequent, or non-recurring. Investors should review this reconciliation to understand how "recurring earnings" are defined and calculated by the company.

Summary

Williams Companies, Inc. (WMB) filed a Form 8-K on May 13, 2003, to disclose a press release dated May 13, 2003, and a reconciliation of income. This filing primarily serves to furnish these documents under Regulation FD, rather than reporting a material event. Investors should note that the information provided is not deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, meaning it does not carry the same liabilities or implications for incorporation by reference into other filings. The press release and reconciliation are key to understanding the company's financial performance as of that date. While the specific details of the press release are not included in the 8-K text itself, its furnishing indicates WMB's intent to communicate material information to the public simultaneously. The reconciliation of "Income (Loss) from Continuing Operations to Recurring Earnings" suggests that the company is providing investors with a view of its underlying operational profitability, potentially excluding certain non-recurring items that might distort a standard net income figure.

Key Highlights

1Williams Companies, Inc. (WMB) filed a Form 8-K on May 13, 2003.
2The filing's primary purpose is to furnish a press release dated May 13, 2003.
3A reconciliation of Income (Loss) from Continuing Operations to Recurring Earnings is also provided as an exhibit.
4Information is furnished under Items 9 (Regulation FD Disclosure) and 12 (Results of Operations and Financial Condition).
5The furnished information is not deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934.
6This means the disclosures are not subject to the liabilities of Section 18 and are not automatically incorporated into other SEC filings.
7The filing indicates WMB's commitment to public disclosure of financial performance through its press releases.

WILLIAMS COMPANIES, INC. 8-K Report (May 13, 2003)

Summary

Key Highlights

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