Restructuring Costs

9 Months Ended

Sep. 30, 2015

Restructuring and Related Activities [Abstract]

Restructuring and Related Activities Disclosure [Text Block]

Restructuring Costs

In the third quarter of 2015, QEP announced the closure of its regional office in Tulsa, Oklahoma. As a part of this reorganization, QEP will incur costs associated with termination benefits, relocation of certain employees, exit costs associated with the possible termination of the operating lease for the Tulsa office space and other expenses. QEP also incurred restructuring costs in the first quarter of 2015 as a result of work force reductions unrelated to the closure of its Tulsa office.

QEP anticipates total restructuring costs to be approximately $8.0 million to $12.0 million, of which approximately $5.3 million to $9.3 million is related to the closure of the Tulsa office and $2.7 million for work force reductions unrelated to the closure of the Tulsa office. Approximately $5.5 million is related to termination benefits, approximately $2.8 million is related to relocation of certain employees, and the remaining $3.9 million is related to the possible termination of the operating lease for the Tulsa office space. During the three months endedSeptember 30, 2015, restructuring costs of $3.5 million were incurred related to the Tulsa office closure, of which $2.8 million were termination costs and $0.7 million were relocation costs. During the nine months endedSeptember 30, 2015, restructuring costs of $6.2 million were incurred, of which $2.7 million were termination costs in the first quarter unrelated to the Tulsa office closure, and $2.8 million and $0.7 million of termination and relocation costs, respectively, were incurred in the third quarter related to the Tulsa office closure. All of the costs will be incurred by QEP Energy and are reported within QEP Energy's financial statements. These restructuring costs were recorded within "General and administrative" expense of the Condensed Consolidated Statement of Operations. The Company estimates that the remaining restructuring costs will be incurred during the remainder of 2015 and in 2016.

The following table is a reconciliation of QEP's restructuring liability, which is included within "Accounts payable and accrued expenses" on the Condensed Consolidated Balance Sheets.

	Restructuring liability
	(in millions)
Balance at December 31, 2014	$	—
Costs incurred and charged to expense	6.2
Costs paid or otherwise settled	(3.8		)
Balance at September 30, 2015	$	2.4