XML 40 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
REVENUES        
Natural gas sales $ 215.1 $ 218.1 $ 437.6 $ 415.7
Oil sales 358.8 208.3 647.5 402.5
NGL sales 92.9 75.3 194.0 143.7
Gathering, processing and other 34.0 42.6 78.4 88.2
Purchased gas, oil and NGL sales 235.9 206.7 463.1 397.4
Total Revenues 936.7 751.0 1,820.6 1,447.5
OPERATING EXPENSES        
Purchased gas, oil and NGL expense 235.7 207.0 460.0 403.8
Lease operating expense 57.5 43.5 112.8 82.4
Natural gas, oil and NGL transportation and other handling costs 54.3 37.3 97.7 71.3
Gathering, processing and other 24.8 23.5 50.6 44.1
General and administrative 64.2 40.9 120.8 86.9
Production and property taxes 56.1 39.3 105.4 75.2
Depreciation, depletion and amortization 249.7 249.8 489.9 504.0
Exploration expenses 1.7 2.6 3.9 7.7
Impairment 1.5 0.2 3.5 0.2
Total Operating Expenses 745.5 644.1 1,444.6 1,275.6
Net (loss) gain from asset sales (201.0) 100.4 (198.6) 100.2
OPERATING INCOME (9.8) 207.3 177.4 272.1
Realized and unrealized gains (losses) on derivative contracts (See Note 8) (88.0) 114.0 (168.9) 79.4
Interest and other income 0.8 3.1 3.7 5.1
Income from unconsolidated affiliates 1.2 1.6 3.4 2.9
Interest expense (45.7) (41.4) (88.2) (80.8)
INCOME (LOSS) BEFORE INCOME TAXES (141.5) 284.6 (72.6) 278.7
Income tax (provision) benefit 54.2 (104.8) 30.8 (102.6)
NET INCOME (LOSS) (87.3) 179.8 (41.8) 176.1
Net income attributable to noncontrolling interest (5.0) (1.4) (10.8) (2.0)
NET INCOME (LOSS) ATTRIBUTABLE TO QEP $ (92.3) $ 178.4 $ (52.6) $ 174.1
Earnings Per Common Share Attributable to QEP        
Earnings Per Share, Basic $ (0.51) $ 0.99 $ (0.29) $ 0.97
Earnings Per Share, Diluted $ (0.51) $ 0.99 $ (0.29) $ 0.97
Weighted-average common shares outstanding        
Used in basic calculation (in shares) 180.1 179.3 179.9 179.1
Used in diluted calculation (in shares) 180.1 179.5 179.9 179.4
Dividends per common share (in dollars per share) $ 0.02 $ 0.02 $ 0.04 $ 0.04