8-KOther Events

WILLIAMS COMPANIES, INC. 8-K Report (May 23, 2003)

Filed May 23, 2003For Securities:WMB

Summary

Williams Companies, Inc. (WMB) filed a Current Report on Form 8-K on May 22, 2003, to provide supplemental pro forma financial information. This information is intended to supplement their previously issued consolidated financial statements for the quarterly period ended March 31, 2003. The supplemental data specifically reflects the treatment of its Texas Gas pipeline system and its Williams Energy Partners segment as discontinued operations.

Key Highlights

  • 1Williams Companies is providing supplemental pro forma financial data as of March 31, 2003.
  • 2The supplemental information treats the Texas Gas pipeline system as discontinued operations.
  • 3The supplemental information also treats the Williams Energy Partners segment as discontinued operations.
  • 4This filing is to supplement previously issued consolidated financial statements found in the Form 10-Q for the first quarter of 2003.
  • 5Exhibit 99.1 contains the detailed pro forma financial information.
  • 6The filing was made on May 22, 2003, for events occurring on May 21, 2003.

Frequently Asked Questions

The main purpose of this filing is to provide investors with supplemental pro forma financial information that presents the Texas Gas pipeline system and the Williams Energy Partners segment as discontinued operations. This information supplements the company's previously issued consolidated financial statements for the quarter ended March 31, 2003.

The Texas Gas pipeline system and the Williams Energy Partners segment are being treated as discontinued operations in the supplemental pro forma financial information.

The detailed pro forma financial information, presenting Williams Energy Partners and Texas Gas Transmission Corporation as discontinued operations, is provided as Exhibit 99.1 to this Form 8-K filing.

This filing clarifies how specific assets/segments (Texas Gas and Williams Energy Partners) are being accounted for as discontinued operations. This allows investors to better assess the ongoing core business performance by isolating the financial impact of these divested or phased-out operations from the current consolidated results.