8-KEarnings & ResultsRegulation FDExhibits & Filings

WILLIAMS COMPANIES, INC. 8-K Report, Financial Results (Apr 30, 2009)

Filed April 30, 2009For Securities:WMB

Summary

This 8-K filing from Williams Companies, Inc. (WMB) on April 30, 2009, primarily serves to furnish their first-quarter 2009 earnings release (Exhibit 99.1) and a separate announcement regarding a significant non-cash charge (Exhibit 99.2). Investors should note the company's plan to report approximately $241 million in non-cash charges attributable to its Venezuelan operations for the first quarter of 2009. This charge, announced the day prior to the 8-K filing, impacts net income but is considered non-cash, meaning it does not involve an outflow of funds. While the full financial results are detailed in the furnished press release, the material event disclosed here is the substantial non-cash charge related to Venezuela. Investors will need to refer to Exhibit 99.1 for a comprehensive understanding of WMB's overall financial performance, including revenue, earnings, and operational metrics for the first quarter of 2009, and consider the impact of the Venezuela-related charge on reported net income.

Key Highlights

  • 1Williams Companies, Inc. filed an 8-K on April 30, 2009, to disclose financial results and a significant charge.
  • 2The company announced its financial results for the quarter ended March 31, 2009, via press release (Exhibit 99.1).
  • 3A substantial non-cash charge of approximately $241 million related to Venezuelan operations is planned for Q1 2009.
  • 4This non-cash charge impacts net income but does not involve immediate cash outflow.
  • 5The filing incorporates by reference press releases as exhibits, making them integral to the disclosure.
  • 6Investors should consult Exhibit 99.1 for detailed Q1 2009 financial performance and Exhibit 99.2 for specifics on the Venezuela charge.

Frequently Asked Questions

The primary financial disclosure is the planned reporting of a non-cash charge of approximately $241 million related to Williams Companies' operations in Venezuela for the first quarter of 2009. This charge affects reported net income but does not represent an outflow of cash.

Detailed financial results for the quarter ended March 31, 2009, are available in the press release furnished as Exhibit 99.1 to this 8-K filing.

No, the $241 million charge related to Venezuelan operations is explicitly stated as a non-cash charge. This means it impacts the company's reported earnings but does not involve an actual outflow of cash from the company.

The non-cash charge will reduce the company's reported net income for the first quarter of 2009. However, because it is non-cash, it will not impact the company's cash flow from operations or its cash balance directly.