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Operations by Line of Business (Tables)
9 Months Ended
Sep. 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 September 30, 2015, by line of business:
 
QEP Energy
 
QEP Marketing
 and Other
 
Eliminations
 
QEP
Consolidated
 
(in millions)
REVENUES
 
 
 
 
 
 
 
From unaffiliated customers
$
382.6

 
$
154.1

 
$

 
$
536.7

From affiliated customers

 
263.4

 
(263.4
)
 

Total Revenues
382.6


417.5


(263.4
)

536.7

OPERATING EXPENSES
 

 
 

 
 

 
 

Purchased gas and oil expense
23.6

 
412.1

 
(260.6
)
 
175.1

Lease operating expense
56.7

 

 

 
56.7

Gas, oil and NGL transportation and other handling costs
80.1

 

 
(2.0
)
 
78.1

Gathering and other expense

 
1.3

 

 
1.3

General and administrative
41.2

 
1.6

 
(0.8
)
 
42.0

Production and property taxes
29.9

 
0.3

 

 
30.2

Depreciation, depletion and amortization
235.7

 
2.4

 

 
238.1

Impairment and exploration expense
15.8

 

 

 
15.8

Total Operating Expenses
483.0

 
417.7

 
(263.4
)
 
637.3

Net gain (loss) from asset sales
13.2

 
(0.3
)
 

 
12.9

OPERATING INCOME (LOSS)
(87.2
)
 
(0.5
)
 

 
(87.7
)
Realized and unrealized gains (losses) on derivative contracts
152.3

 
1.3

 

 
153.6

Interest and other income
0.9

 
52.0

 
(52.6
)
 
0.3

Interest expense
(52.4
)
 
(36.6
)
 
52.6

 
(36.4
)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
13.6

 
16.2

 

 
29.8

Income tax (provision) benefit
(2.8
)
 
(5.9
)
 

 
(8.7
)
NET INCOME (LOSS)
$
10.8

 
$
10.3

 
$

 
$
21.1


The following table is a summary of operating results for the three months ended September 30, 2014, by line of business:
 
QEP Energy
 
QEP Marketing
 and Other
 
Eliminations
 
Discontinued Operations
 
QEP
Consolidated
 
(in millions)
REVENUES
 
 
 
 
 
 
 
 
 
From unaffiliated customers
$
652.9

 
$
257.1

 
$

 
$

 
$
910.0

From affiliated customers

 
417.8

 
(417.8
)
 

 

Total Revenues
652.9

 
674.9

 
(417.8
)
 

 
910.0

OPERATING EXPENSES
 

 
 

 
 

 
 
 
 

Purchased gas and oil expense
32.8

 
668.3

 
(412.7
)
 

 
288.4

Lease operating expense
61.1

 

 

 

 
61.1

Gas, oil and NGL transportation and other handling costs
75.2

 

 
(4.1
)
 

 
71.1

Gathering and other expense

 
1.4

 

 

 
1.4

General and administrative
49.0

 
1.4

 
(1.0
)
 

 
49.4

Production and property taxes
59.3

 
0.1

 

 

 
59.4

Depreciation, depletion and amortization
249.0

 
2.4

 

 

 
251.4

Impairment and exploration expense
0.9

 

 

 

 
0.9

Total Operating Expenses
527.3

 
673.6

 
(417.8
)
 

 
783.1

Net gain (loss) from assets sales
(11.9
)
 
0.1

 

 

 
(11.8
)
OPERATING INCOME (LOSS)
113.7

 
1.4

 

 

 
115.1

Realized and unrealized gains (losses) on derivative contracts
154.1

 
1.6

 

 

 
155.7

Interest and other income
3.9

 
56.6

 
(56.3
)
 

 
4.2

Income from unconsolidated affiliates
0.1

 

 

 

 
0.1

Interest expense
(57.0
)
 
(40.8
)
 
56.3

 

 
(41.5
)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
214.8

 
18.8

 

 

 
233.6

Income tax (provision) benefit
(69.1
)
 
(10.8
)
 

 

 
(79.9
)
INCOME (LOSS) FROM CONTINUING OPERATIONS
145.7

 
8.0

 

 

 
153.7

Net income from discontinued operations, net of income tax

 

 

 
17.4

 
17.4

NET INCOME (LOSS)
$
145.7

 
$
8.0

 
$

 
$
17.4

 
$
171.1



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

 
QEP Energy
 
QEP Marketing
 and Other
 
Eliminations
 
QEP
Consolidated
 
(in millions)
REVENUES
 
 
 
 
 
 
 
From unaffiliated customers
$
1,143.8

 
$
493.1

 
$

 
$
1,636.9

From affiliated customers

 
719.0

 
(719.0
)
 

Total Revenues
1,143.8

 
1,212.1

 
(719.0
)
 
1,636.9

OPERATING EXPENSES
 

 
 

 
 

 
 

Purchased gas and oil expense
71.6

 
1,200.3

 
(710.2
)
 
561.7

Lease operating expense
175.6

 

 

 
175.6

Gas, oil and NGL transportation and other handling costs
223.0

 

 
(6.8
)
 
216.2

Gathering and other expense

 
4.4

 

 
4.4

General and administrative
137.4

 
5.3

 
(2.0
)
 
140.7

Production and property taxes
88.6

 
2.1

 

 
90.7

Depreciation, depletion and amortization
641.6

 
7.7

 

 
649.3

Impairment and exploration expense
38.2

 

 

 
38.2

Total Operating Expenses
1,376.0

 
1,219.8

 
(719.0
)
 
1,876.8

Net gain (loss) from asset sales
11.9

 
(5.0
)
 

 
6.9

OPERATING INCOME (LOSS)
(220.3
)
 
(12.7
)
 

 
(233.0
)
Realized and unrealized gains (losses) on derivative contracts
166.9

 
1.6

 

 
168.5

Interest and other income (expense)
0.5

 
153.1

 
(152.1
)
 
1.5

Interest expense
(152.2
)
 
(109.3
)
 
152.1

 
(109.4
)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
(205.1
)
 
32.7

 

 
(172.4
)
Income tax (provision) benefit
73.2

 
(11.6
)
 

 
61.6

NET INCOME (LOSS)
$
(131.9
)
 
$
21.1

 
$

 
$
(110.8
)




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

 
QEP Energy
 
QEP Marketing
 and Other
 
Eliminations
 
Discontinued Operations
 
QEP
Consolidated
 
(in millions)
REVENUES
 
 
 
 
 
 
 
 
 
From unaffiliated customers
$
1,953.3

 
$
661.4

 
$

 
$

 
$
2,614.7

From affiliated customers

 
1,132.9

 
(1,132.9
)
 

 
$

Total Revenues
1,953.3

 
1,794.3

 
(1,132.9
)
 

 
2,614.7

OPERATING EXPENSES
 

 
 

 
 

 
 
 
 
Purchased gas and oil expense
120.9

 
1,771.6

 
(1,117.0
)
 

 
775.5

Lease operating expense
177.0

 

 

 

 
177.0

Gas, oil and NGL transportation and other handling costs
211.8

 

 
(13.3
)
 

 
198.5

Gathering and other expense

 
4.8

 

 

 
4.8

General and administrative
146.5

 
3.1

 
(2.6
)
 

 
147.0

Production and property taxes
159.8

 
1.0

 

 

 
160.8

Depreciation, depletion and amortization
704.7

 
7.8

 

 

 
712.5

Impairment and exploration expense
8.3

 

 

 

 
8.3

Total Operating Expenses
1,529.0

 
1,788.3

 
(1,132.9
)
 

 
2,184.4

Net gain (loss) from assets sales
(210.3
)
 

 

 

 
(210.3
)
OPERATING INCOME (LOSS)
214.0

 
6.0

 

 

 
220.0

Realized and unrealized gains (losses) on derivative contracts
(9.7
)
 
(3.5
)
 

 

 
(13.2
)
Interest and other income
7.4

 
162.0

 
(161.6
)
 

 
7.8

Income from unconsolidated affiliates
0.2

 

 

 

 
0.2

Interest expense
(162.5
)
 
(127.5
)
 
161.6

 

 
(128.4
)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
49.4

 
37.0

 

 

 
86.4

Income tax (provision) benefit
(9.0
)
 
(17.1
)
 

 

 
(26.1
)
INCOME (LOSS) FROM CONTINUING OPERATIONS
40.4

 
19.9

 

 

 
60.3

Net income from discontinued operations, net of income tax

 

 

 
58.2

 
58.2

NET INCOME (LOSS)
$
40.4

 
$
19.9

 
$

 
$
58.2

 
$
118.5