Restructuring Costs

12 Months Ended

Dec. 31, 2020

Restructuring and Related Activities [Abstract]

Restructuring Costs

In February 2018, QEP's Board approved certain strategic and financial initiatives. In February 2019, QEP's Board commenced a comprehensive review of strategic alternatives to maximize shareholder value. In connection with these activities, QEP has incurred various restructuring costs associated with contractual termination benefits including severance, accelerated vesting of share-based compensation and other expenses. The termination benefits have been accounted for under ASC 712, Compensation – Nonretirement Postemployment Benefits and ASC 718, Compensation – Stock Compensation.

Restructuring costs recognized are summarized below:

	Year Ended December 31, 2020
	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)
Termination benefits	$	1.0	$	1.0	$	—	$	—
Accelerated share-based compensation	0.5		0.5		—		—
Retention expense (including share-based compensation)	0.4		0.4		—		—
Total restructuring costs	$	1.9	$	1.9	$	—	$	—

	Year Ended December 31, 2019
	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)
Termination benefits	$	12.3	$	12.2	$	0.1	$	—
Office lease termination costs	0.6		0.6		—		—
Accelerated share-based compensation	12.6		11.1		1.5		—
Retention expense (including share-based compensation)	19.5		19.5		—		—
Pension and Medical Plan curtailment	1.2		—		(0.2)		1.4
Total restructuring costs	$	46.2	$	43.4	$	1.4	$	1.4

	Year Ended December 31, 2018
	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)
Termination benefits	$	32.3	$	25.7	$	6.6	$	—
Office lease termination costs	1.0		1.0		—		—
Accelerated share-based compensation	11.0		8.8		2.2		—
Retention expense (including share-based compensation)	18.8		18.8		—		—
Pension and Medical Plan curtailment	0.1		—		(0.2)		0.3
Total restructuring costs	$	63.2	$	54.3	$	8.6	$	0.3

	Costs recognized from inception through December 31, 2020 (1)		Total remaining costs expected to be incurred
	(in millions)
Termination benefits	$	45.6	$	—
Office lease termination costs	1.6		—
Accelerated share-based compensation	24.1		—
Retention expense (including share-based compensation)	38.7		—
Pension and Medical Plan curtailment	1.3		—
Total restructuring costs	$	111.3	$	—

 ____________________________

(1)Represents costs incurred since February 2018 when QEP's Board approved certain strategic and financial initiatives.

The following table is a reconciliation of QEP's restructuring liability, which is included within "Accounts payable and accrued expenses" on the 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, 2019	$	1.2	$	—	$	—	$	6.5	$	—	$	7.7
Costs incurred and charged to expense	1.0		—		0.5		0.4		—		1.9
Costs paid or otherwise settled	(2.2)		—		(0.5)		(6.9)		—		(9.6)
Balance at December 31, 2020	$	—	$	—	$	—	$	—	$	—	$	—