The Williams Companies, Inc. (WMB) 10-Q 2006 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, 2006
Earnings:
Income from continuing operations before income taxes	$	366.9
Minority interest in income of consolidated subsidiaries		27.5
Less: Equity earnings		(75.2	)
Income from continuing operations before income taxes, minority interest in income of consolidated subsidiaries and equity earnings		319.2
Add:
Fixed charges:
Interest accrued, including proportionate share from 50% owned investees		525.3
Rental expense representative of interest factor		12.7
Total fixed charges		538.0
Distributed income of equity-method investees		85.0
Less:
Capitalized interest		(11.8	)
Total earnings as adjusted	$	930.4
Fixed charges	$	538.0
Ratio of earnings to fixed charges		1.73