On February 28, 2018, QEP announced its intention to become a pure-play Permian Basin company, which includes plans to market its assets in the Williston Basin, the Uinta Basin and Haynesville/Cotton Valley. As of September 30, 2018, the Company closed the sale of its Uinta Basin assets and continued to engage in discussions with potential buyers for its Williston Basin and Haynesville/Cotton Valley assets. As a part of the Strategic Initiatives, QEP has incurred or expects to incur costs associated with contractual termination benefits including severance and accelerated vesting of share-based compensation. These termination benefits will be accounted for under ASC 712, Compensation - Nonretirement Postemployment Benefits and ASC 718, Compensation - Stock Compensation.

Restructuring costs recognized associated with the restructuring are summarized below:



	Total recognized		Recognized in "General and administrative"		Recognized in "Net gain (loss) from asset sales, inclusive of restructuring costs"		Recognized in "Interest and other income (expense)"
	(in millions)
	Three Months Ended September 30, 2018
Termination benefits	$	6.7	$	5.3	$	1.4	$	—
Office lease termination costs	0.7		0.7		—		—
Accelerated share-based compensation	3.2		1.0		2.2		—
Retention expense	5.8		5.8		—		—
Pension curtailment	0.3		—		—		0.3
Total restructuring costs	$	16.7	$	12.8	$	3.6	$	0.3

	Nine Months Ended September 30, 2018
Termination benefits	$	13.7	$	10.4	$	3.3	$	—
Office lease termination costs	1.0		1.0		—		—
Accelerated share-based compensation	7.2		5.0		2.2		—
Retention expense	13.8		13.8		—		—
Pension curtailment	0.3		—		—		0.3
Total restructuring costs	$	36.0	$	30.2	$	5.5	$	0.3



	Costs recognized period from inception to September 30, 2018		Total remaining costs expected to be incurred
	(in millions)
Termination benefits	$	13.7	$	—	⁽¹⁾
Office lease termination costs	1.0		—		⁽¹⁾
Accelerated share-based compensation	7.2		—		⁽¹⁾
Retention expense	13.8		10.5		⁽²⁾
Pension curtailment	0.3		—		⁽¹⁾
Total restructuring costs	$	36.0	$	10.5

____________________________


⁽¹⁾	Due to the nature of the Strategic Initiatives and uncertain factors such as the timing and terms of the potential divestitures, the Company is not able to reasonably estimate the total cost to be incurred as a part of this restructuring.


⁽²⁾	QEP expects to incur an additional $6.3 million of expense in 2018 and $4.2 million in 2019 related to the retention program.

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
	Termination benefits			Office lease termination costs			Accelerated share-based compensation			Retention expense			Pension curtailment			Total
	(in millions)
Balance at December 31, 2017	$	—		$	—		$	—		$	—		$	—		$	—
Costs incurred and charged to expense	13.7			1.0			7.2			13.8			0.3			36.0
Costs paid or otherwise settled	(8.4		)	(1.0		)	(7.2		)	(8.0		)	(0.3		)	(24.9		)
Balance at September 30, 2018	$	5.3		$	—		$	—		$	5.8		$	—		$	11.1