The Williams Companies, Inc. (WMB) 10-Q 2012 Q3 Quarterly report

Exhibit 12

The Williams Companies, Inc.

Computation of Ratio of Earnings to Fixed Charges

	Nine months ended
	September 30, 2012
	(Millions)
Earnings:
Income from continuing operations before income taxes and noncontrolling interests	$	1,006
Less: Equity earnings, excluding proportionate share from 50% owned investees and unconsolidated majority-owned investees		(20	)
Income from continuing operations before income taxes, equity earnings, and noncontrolling interests		986
Add:
Fixed charges:
Interest accrued, including proportionate share from 50% owned investees and unconsolidated majority-owned investees (a)		448
Rental expense representative of interest factor		8
Total fixed charges		456
Distributed income of equity-method investees, excluding proportionate share from 50% owned investees and unconsolidated majority-owned investees		25
Less:
Capitalized interest		(33	)
Total earnings as adjusted	$	1,434
Fixed charges	$	456
Ratio of earnings to fixed charges		3.14

(a) Does not include interest related to income taxes, including interest related to liabilities for uncertain tax positions, which is included inprovision (benefit) for income taxesin our Consolidated Statement of Income.