The Williams Companies, Inc. (WMB) 10-Q 2005 Q3 Quarterly report

Exhibit 12

The Williams Companies, Inc.
Computation of Ratio of Earnings to Fixed Charges
(Dollars in millions)

	Nine months ended
	September 30, 2005
Earnings:
Income from continuing operations before income taxes	$	417.2
Minority interest in income of consolidated subsidiaries		16.8
Less: Equity earnings		(45.1	)
Income from continuing operations before income taxes, minority interest in income of consolidated subsidiaries and equity earnings		388.9
Add:
Fixed charges:
Interest accrued, including proportionate share from equity-method investees		513.4
Rental expense representative of interest factor		15.0
Total fixed charges		528.4
Distributed income of equity investees		68.1
Less:
Capitalized interest		(4.3	)
Total earnings as adjusted	$	981.1
Fixed charges	$	528.4
Ratio of earnings to fixed charges		1.86

SIGNATURE

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

THE WILLIAMS COMPANIES, INC.

(Registrant)

/s/ Ted T. Timmermans

Ted T. Timmermans

Controller (Duly Authorized Officer and Principal

Accounting Officer)

November 3, 2005