The Williams Companies, Inc. (WMB) 10-Q 2007 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, 2007
Earnings:
Income from continuing operations before income taxes	$	1,058.4
Minority interest in income of consolidated subsidiaries		67.7
Less: Equity earnings		(95.6	)
Income from continuing operations before income taxes, minority interest in income of consolidated subsidiaries and equity earnings		1,030.5
Add:
Fixed charges:
Interest accrued, including proportionate share from 50% owned investees (1)		533.0
Rental expense representative of interest factor		15.5
Total fixed charges		548.5
Distributed income of equity-method investees		75.3
Less:
Capitalized interest		(20.8	)
Total earnings as adjusted	$	1,633.5
Fixed charges	$	548.5
Ratio of earnings to fixed charges		2.98

(1) Does not include interest related to income taxes, including interest related to FIN 48 liabilities, which is included inprovision for income taxeson our Consolidated Statement of Income. See Note 5 of Notes to Consolidated Financial Statements.