FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2016

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table presents Questar Gas’ assets and liabilities that are measured at fair value on a recurring basis for each hierarchy level, including both current and noncurrent portions. Questar Gas did not have any such items at December 31, 2015.



	Level 1		Level 2		Level 3		Total
(millions)
At December 31, 2016
Assets:
Derivatives:
Commodity	$	—	$	0.1	$	—	$	0.1
Total assets	$	—	$	0.1	$	—	$	0.1
Liabilities:
Derivatives:
Commodity	$	—	$	0.1	$	—	$	0.1
Total liabilities	$	—	$	0.1	$	—	$	0.1

Fair Value Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation

The following table presents the net change in Questar Gas' assets and liabilities measured at fair value on a recurring basis and included in the Level 3 fair value category. Questar Gas did not have any such items at December 31, 2015 or 2014.



	2016
(millions)
Beginning balance	$	—
Total realized and unrealized gains (losses):
Included in earnings⁽¹⁾	0.2
Included in regulatory assets/liabilities	—
Settlements	(0.2		)
Ending balance	$	—

(1) The gains and losses included in earnings were classified in cost of sales.

Schedule Carrying Amounts and Estimated Fair Value of Financial Instruments not Recorded at Fair Value

For Questar Gas' financial instruments that are not recorded at fair value, the carrying amounts and estimated fair values are as follows:



	December 31, 2016				December 31, 2015
	Carrying Amount		Estimated Fair Value⁽¹⁾		Carrying Amount		Estimated Fair Value⁽²⁾
(millions)
Long-term debt, including securities due within one year⁽³⁾	$	630.8	$	672.6	$	531.2	$	568.4

(1) Fair value is estimated using market prices, where available, and interest rates currently available for issuance of debt with similar terms

and remaining maturities. The fair value measurements are classified as Level 2.

(2) Fair value is estimated using the discounted present value of cash flows using Questar Gas’ current credit risk-adjusted borrowing rates.

The fair value measurements are classified as Level 2.

(3) Carrying amount includes amounts which represent the unamortized debt issuance costs, discount and/or premium.