The Tulsa, OK-based energy company underwent a massive and costly corporate restructuring that helped swell the company's losses in 2010. Williams Companies also took an accounting write-down on its exploration and production businesses amid weaker prices for natural gas.
Despite the losses, it reported a profit during the fourth quarter of $174 million, mostly from higher margins for natural gas liquids, such as ethane and propane.
The year ahead is poised to be one filled with big changes under CEO Alan Armstrong, who took over Steve Malcolm's top spot at the start of 2011. In February, Williams announced plans to spin off its exploration and production arm into a separate publicly traded company later this year. The move, which would give each segment more flexibility in making operational decisions, is aimed to boost growth.
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