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These excerpts taken from the WMB 10-K filed Feb 25, 2009. Accounts
and notes receivable
The following table summarizes concentration of receivables
including those related to discontinued operations (see
Note 2), net of allowances, by product or service at
December 31, 2008 and 2007:
Natural gas customers include pipelines, distribution companies,
producers, gas marketers and industrial users primarily located
in the eastern and northwestern United States, Rocky Mountains,
Gulf Coast, Venezuela and Canada. As a general policy,
collateral is not required for receivables, but customers’
financial condition and credit worthiness are evaluated
regularly.
Our Venezuelan operations are operated for the exclusive benefit
of PDVSA. As energy commodity prices have sharply declined,
PDVSA has failed to make regular payments to many service
providers, including us. Included within sale of natural gas
and related products and services in the table above at
December 31, 2008, is a $57 million net receivable
from PDVSA, none of which was 60 days old or older at that
date. We continue to
Table of Contents
THE
WILLIAMS COMPANIES, INC.
NOTES TO
CONSOLIDATED FINANCIAL
STATEMENTS — (Continued)
monitor the situation and are actively seeking resolution with
PDVSA. The collection of receivables from PDVSA has historically
been slower and more time consuming than our other customers due
to their policies and the political unrest in Venezuela. We
expect, at this time, that the amounts will ultimately be paid.
Accounts and notes receivable The following table summarizes concentration of receivables including those related to discontinued operations (see Note 2), net of allowances, by product or service at December 31, 2008 and 2007:
Natural gas customers include pipelines, distribution companies, producers, gas marketers and industrial users primarily located in the eastern and northwestern United States, Rocky Mountains, Gulf Coast, Venezuela and Canada. As a general policy, collateral is not required for receivables, but customers’ financial condition and credit worthiness are evaluated regularly. Our Venezuelan operations are operated for the exclusive benefit of PDVSA. As energy commodity prices have sharply declined, PDVSA has failed to make regular payments to many service providers, including us. Included within sale of natural gas and related products and services in the table above at December 31, 2008, is a $57 million net receivable from PDVSA, none of which was 60 days old or older at that date. We continue to
Table of ContentsTHE WILLIAMS COMPANIES, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued) monitor the situation and are actively seeking resolution with PDVSA. The collection of receivables from PDVSA has historically been slower and more time consuming than our other customers due to their policies and the political unrest in Venezuela. We expect, at this time, that the amounts will ultimately be paid. These excerpts taken from the WMB 10-K filed Feb 26, 2008. Accounts
and notes receivable
The following table summarizes concentration of receivables
including those related to discontinued operations (see
Note 2), net of allowances, by product or service at
December 31, 2007 and 2006:
Natural gas customers include pipelines, distribution companies,
producers, gas marketers and industrial users primarily located
in the eastern and northwestern United States, Rocky Mountains,
Gulf Coast, Venezuela and Canada. Prior to the sale of
substantially all of our power business, which was completed in
November 2007, customers for power included the California
Independent System Operator (ISO), the California Department of
Water Resources, and other power marketers and utilities located
throughout the United States. As a general policy, collateral is
not required for receivables, but customers’ financial
condition and credit worthiness are evaluated regularly.
Accounts and notes receivable The following table summarizes concentration of receivables including those related to discontinued operations (see Note 2), net of allowances, by product or service at December 31, 2007 and 2006:
Natural gas customers include pipelines, distribution companies, producers, gas marketers and industrial users primarily located in the eastern and northwestern United States, Rocky Mountains, Gulf Coast, Venezuela and Canada. Prior to the sale of substantially all of our power business, which was completed in November 2007, customers for power included the California Independent System Operator (ISO), the California Department of Water Resources, and other power marketers and utilities located throughout the United States. As a general policy, collateral is not required for receivables, but customers’ financial condition and credit worthiness are evaluated regularly. This excerpt taken from the WMB 10-K filed Feb 28, 2007. Accounts
and notes receivable
The following table summarizes concentration of receivables, net
of allowances, by product or service at December 31, 2006
and 2005:
Natural gas customers include pipelines, distribution companies,
producers, gas marketers and industrial users primarily located
in the eastern and northwestern United States, Rocky Mountains,
Gulf Coast, Venezuela and Canada. Customers for power include
the California Independent System Operator (ISO), the California
Department of Water Resources, and other power marketers and
utilities located throughout the United States. As a general
policy, collateral is not required for receivables, but
customers’ financial condition and credit worthiness are
evaluated regularly.
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THE
WILLIAMS COMPANIES, INC.
NOTES TO
CONSOLIDATED FINANCIAL
STATEMENTS — (Continued)
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