Basis of Presentation of Interim Consolidated Financial Statements (Tables)

3 Months Ended

Mar. 31, 2012

Basis of Presentation of Interim Consolidated Financial Statements [Abstract]

Impact of change in transportation and other handling costs

The following table details the impact for the three months ended March 31, 2011, on the Condensed Consolidated Income Statement.

	As reported (1)		As revised		Change
	(in millions)
REVENUES
Natural gas sales	$	271.0	$	312.6	$	41.6
Oil sales		62.3		63.0		0.7
NGL sales		45.8		47.9		2.1
Gathering, processing and other		69.3		46.6		(22.7	)
OPERATING EXPENSES
Natural gas, oil and NGL transportation and other handling costs		-		21.7		21.7

(1)

In addition to the revision described above, QEP Field Services NGL sales of $28.6 million in the first quarter of 2011 have been reclassified from “Gathering, processing and other” into “NGL sales” in the as reported column to be consistent with current period presentation. QEP reported NGL sales of $17.2 million and Gathering, processing and other of $97.9 million in its first quarter 2011 Form 10-Q. The reclassification is all within Revenues and has no effect on income from continuing operations, net income or earnings per share.

- Definition

Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made.

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