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Operations by Line of Business (Tables)
6 Months Ended
Jun. 30, 2015
Segment Reporting Information [Line Items]  
Summary of operating results by line of business
The following table is a summary of operating results for the three months ended June 30, 2015, by line of business:
 
QEP Energy
 
QEP Marketing
 and Other
 
Eliminations
 
QEP
Consolidated
 
(in millions)
REVENUES
 
 
 
 
 
 
 
From unaffiliated customers
$
407.9

 
$
200.7

 
$

 
$
608.6

From affiliated customers

 
248.1

 
(248.1
)
 

Total Revenues
407.9


448.8


(248.1
)

608.6

OPERATING EXPENSES
 

 
 

 
 

 
 

Purchased gas and oil expense
16.8

 
445.4

 
(245.0
)
 
217.2

Lease operating expense
57.1

 

 

 
57.1

Gas, oil and NGL transportation and other handling costs
75.5

 

 
(2.5
)
 
73.0

Gathering and other expense

 
1.4

 

 
1.4

General and administrative
50.0

 
1.9

 
(0.6
)
 
51.3

Production and property taxes
31.2

 
1.5

 

 
32.7

Depreciation, depletion and amortization
213.2

 
2.6

 

 
215.8

Impairment and exploration expense
1.3

 

 

 
1.3

Total Operating Expenses
445.1

 
452.8

 
(248.1
)
 
649.8

Net gain (loss) from asset sales
26.5

 
(2.0
)
 

 
24.5

OPERATING INCOME (LOSS)
(10.7
)
 
(6.0
)
 

 
(16.7
)
Realized and unrealized gains (losses) on derivative contracts
(65.6
)
 
(0.4
)
 

 
(66.0
)
Interest and other income
3.1

 
53.1

 
(52.4
)
 
3.8

Interest expense
(52.6
)
 
(36.0
)
 
52.4

 
(36.2
)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
(125.8
)
 
10.7

 

 
(115.1
)
Income tax (provision) benefit
42.4

 
(3.6
)
 

 
38.8

NET INCOME (LOSS)
$
(83.4
)
 
$
7.1

 
$

 
$
(76.3
)

The following table is a summary of operating results for the three months ended June 30, 2014, by line of business:
 
QEP Energy
 
QEP Marketing
 and Other
 
Eliminations
 
Discontinued Operations
 
QEP
Consolidated
 
(in millions)
REVENUES
 
 
 
 
 
 
 
 
 
From unaffiliated customers
$
687.2

 
$
200.0

 
$

 
$

 
$
887.2

From affiliated customers

 
411.6

 
(411.6
)
 

 

Total Revenues
687.2

 
611.6

 
(411.6
)
 

 
887.2

OPERATING EXPENSES
 

 
 

 
 

 
 
 
 

Purchased gas and oil expense
50.1

 
605.4

 
(406.3
)
 

 
249.2

Lease operating expense
59.5

 

 

 

 
59.5

Gas, oil and NGL transportation and other handling costs
72.1

 

 
(4.6
)
 

 
67.5

Gathering and other expense

 
1.8

 

 

 
1.8

General and administrative
52.5

 
0.5

 
(0.7
)
 

 
52.3

Production and property taxes
53.1

 
0.4

 

 

 
53.5

Depreciation, depletion and amortization
232.3

 
2.9

 

 

 
235.2

Impairment and exploration expense
3.2

 

 

 

 
3.2

Total Operating Expenses
522.8

 
611.0

 
(411.6
)
 

 
722.2

Net gain (loss) from assets sales
(200.8
)
 
(0.1
)
 

 

 
(200.9
)
OPERATING INCOME (LOSS)
(36.4
)
 
0.5

 

 

 
(35.9
)
Realized and unrealized gains (losses) on derivative contracts
(85.3
)
 
(2.7
)
 

 

 
(88.0
)
Interest and other income
0.6

 
56.7

 
(56.5
)
 

 
0.8

Income from unconsolidated affiliates
0.1

 

 

 

 
0.1

Interest expense
(56.6
)
 
(44.9
)
 
56.5

 

 
(45.0
)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
(177.6
)
 
9.6

 

 

 
(168.0
)
Income tax (provision) benefit
67.2

 
(5.3
)
 

 

 
61.9

INCOME (LOSS) FROM CONTINUING OPERATIONS
(110.4
)
 
4.3

 

 

 
(106.1
)
Net income from discontinued operations, net of income tax

 

 

 
13.8

 
13.8

NET INCOME (LOSS)
$
(110.4
)
 
$
4.3

 
$

 
$
13.8

 
$
(92.3
)


The following table is a summary of operating results for the six months ended June 30, 2015, by line of business:

 
QEP Energy
 
QEP Marketing
 and Other
 
Eliminations
 
QEP
Consolidated
 
(in millions)
REVENUES
 
 
 
 
 
 
 
From unaffiliated customers
$
761.2

 
$
339.0

 
$

 
$
1,100.2

From affiliated customers

 
455.6

 
(455.6
)
 

Total Revenues
761.2

 
794.6

 
(455.6
)
 
1,100.2

OPERATING EXPENSES
 

 
 

 
 

 
 

Purchased gas and oil expense
48.0

 
788.2

 
(449.6
)
 
386.6

Lease operating expense
118.9

 

 

 
118.9

Gas, oil and NGL transportation and other handling costs
142.9

 

 
(4.8
)
 
138.1

Gathering and other expense

 
3.1

 

 
3.1

General and administrative
96.2

 
3.7

 
(1.2
)
 
98.7

Production and property taxes
58.7

 
1.8

 

 
60.5

Depreciation, depletion and amortization
405.9

 
5.3

 

 
411.2

Impairment and exploration expense
22.4

 

 

 
22.4

Total Operating Expenses
893.0

 
802.1

 
(455.6
)
 
1,239.5

Net gain (loss) from asset sales
(1.3
)
 
(4.7
)
 

 
(6.0
)
OPERATING INCOME (LOSS)
(133.1
)
 
(12.2
)
 

 
(145.3
)
Realized and unrealized gains (losses) on derivative contracts
14.6

 
0.3

 

 
14.9

Interest and other income (expense)
(0.4
)
 
101.1

 
(99.5
)
 
1.2

Interest expense
(99.8
)
 
(72.7
)
 
99.5

 
(73.0
)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
(218.7
)
 
16.5

 

 
(202.2
)
Income tax (provision) benefit
76.0

 
(5.7
)
 

 
70.3

NET INCOME (LOSS)
$
(142.7
)
 
$
10.8

 
$

 
$
(131.9
)




The following table is a summary of operating results for the six months ended June 30, 2014, by line of business:

 
QEP Energy
 
QEP Marketing
 and Other
 
Eliminations
 
Discontinued Operations
 
QEP
Consolidated
 
(in millions)
REVENUES
 
 
 
 
 
 
 
 
 
From unaffiliated customers
$
1,300.4

 
$
404.3

 
$

 

 
$
1,704.7

From affiliated customers

 
715.1

 
(715.1
)
 

 
$

Total Revenues
1,300.4

 
1,119.4

 
(715.1
)
 

 
1,704.7

OPERATING EXPENSES
 

 
 

 
 

 
 
 
 
Purchased gas and oil expense
88.1

 
1,103.3

 
(704.3
)
 

 
487.1

Lease operating expense
115.9

 

 

 

 
115.9

Gas, oil and NGL transportation and other handling costs
136.6

 

 
(9.2
)
 

 
127.4

Gathering and other expense

 
3.4

 

 

 
3.4

General and administrative
97.5

 
1.7

 
(1.6
)
 

 
97.6

Production and property taxes
100.5

 
0.9

 

 

 
101.4

Depreciation, depletion and amortization
455.7

 
5.4

 

 

 
461.1

Impairment and exploration expense
7.4

 

 

 

 
7.4

Total Operating Expenses
1,001.7

 
1,114.7

 
(715.1
)
 

 
1,401.3

Net gain (loss) from assets sales
(198.4
)
 
(0.1
)
 

 

 
(198.5
)
OPERATING INCOME (LOSS)
100.3

 
4.6

 

 

 
104.9

Realized and unrealized gains (losses) on derivative contracts
(163.8
)
 
(5.1
)
 

 

 
(168.9
)
Interest and other income
3.5

 
105.5

 
(105.3
)
 

 
3.7

Income from unconsolidated affiliates
0.1

 

 

 

 
0.1

Interest expense
(105.5
)
 
(86.7
)
 
105.3

 

 
(86.9
)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
(165.4
)
 
18.3

 

 

 
(147.1
)
Income tax (provision) benefit
60.1

 
(6.4
)
 

 

 
53.7

INCOME (LOSS) FROM CONTINUING OPERATIONS
(105.3
)
 
11.9

 

 

 
(93.4
)
Net income from discontinued operations, net of income tax

 

 

 
40.8

 
40.8

NET INCOME (LOSS)
$
(105.3
)
 
$
11.9

 
$

 
$
40.8

 
$
(52.6
)