WMBWilliams Companies

Customers the company names as a large share of revenue or receivables (it must name any worth 10% of revenue).

No specific sentence about this in the 10-K.

Parts or manufacturing that depend on one or a few suppliers.

“Some of Williams’, Transco’s, and NWP’s businesses are exposed to supplier concentration risks arising from dependence on a single or a limited number of suppliers.”

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“Some of Williams’, Transco’s, and NWP’s businesses may be dependent on a small number of suppliers for the delivery of critical goods or services.”

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Pending cases, settlements and what the company has set aside for them.

“Williams’ threshold for disclosing material environmental legal proceedings involving a governmental authority where potential monetary sanctions are involved is $1 million.”

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“Income (loss) from discontinued operations in 2023 includes a pre-tax charge of $125 million to increase the accrued liability associated with the Alaska refinery contamination litigation, partially offset by the related income tax effect (see Note 1 – Description of Business, Basis of Presentation, and Summary of Significant Accounting Policies).”

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“Proportional Modified EBITDA of equity-method investments increased at Aux Sable Liquid Products LP primarily due to the absence of Williams’ $31 million share of a loss contingency accrual related to its former ownership in 2023, as well as the terms of the new product marketing agreement, partially offset by the sale of Williams’ investment in Aux Sable Liquid Products LP in the third quarter of 2024.”

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New “Accrual for litigation settlement (Note 18) 75 —”

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“On June 8, 2023, the Court of Appeals vacated the settlement approval and remanded to the United States District Court for the Southern District of Texas with instructions to dismiss the settlement proceedings for lack of jurisdiction.”

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Promises to pay someone else's debts or losses if they cannot.

“The fair value of the guarantee associated with the indemnification related to a disposed operation was estimated using an income approach that considered probability-weighted scenarios of potential levels of future performance.”

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“The terms of the indemnification do not limit the maximum potential future payments associated with the guarantee.”

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“The maximum potential amount of future payments under these indemnifications is based on the related borrowings and such future payments cannot currently be determined.”

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“These potential obligations include remediation activities at the direction of federal and state environmental authorities and the indemnification of the purchasers of certain of these assets and businesses for environmental and other liabilities existing at the time the sale was consummated.”

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New “(6) Impairment or write-off of certain assets primarily includes a $25 million write-off of certain compression assets within the West segment in September 2025 and a $176 million impairment of certain gas gathering assets within the West segment in December 2025 (Note 16 – Fair Value Measurements, Guarantees, and Concentration of Credit Risk).”

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Conditions in loan agreements that, if broken, can make debt due early.

“Williams expects to be in compliance with the financial covenants associated with the credit facility for the December 31, 2025, reporting period.”

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“Williams expects to be in compliance with these covenants for the December 31, 2025, reporting period.”

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“Transco and NWP expect to be in compliance with these covenants, for the December 31, 2025 reporting period.”

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Contracts the company must pay for later: purchase obligations, take-or-pay deals.

No specific sentence about this in the 10-K.