STATE OF UTAH | 001-08796 | 87-0407509 |
(State or other jurisdiction of incorporation) | (Commission File No.) | (I.R.S. Employer Identification No.) |
[ ] | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
[ ] | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
[ ] | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
[ ] | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Exhibit No. | Exhibit |
99.1 | Press release issued February 14, 2012, by Questar Corporation. |
QUESTAR CORPORATION (Registrant) | ||
February 14, 2012 | /s/Kevin W. Hadlock | |
Kevin W. Hadlock Executive Vice President and Chief Financial Officer |
Exhibit No. | Exhibit |
99.1 | Press release issued February 14, 2012, by Questar Corporation. |
3 Months Ended December 31, | 12 Months Ended December 31, | |||||||||||||||||||||
2011 | 2010 | Change | 2011 | 2010 | Change | |||||||||||||||||
(in millions, except earnings per share) | ||||||||||||||||||||||
Wexpro | $ | 23.6 | $ | 22.7 | 4 | % | $ | 95.2 | $ | 88.1 | 8 | % | ||||||||||
Questar Pipeline | 17.2 | 18.0 | (4 | %) | 67.9 | 67.4 | 1 | % | ||||||||||||||
Questar Gas | 20.2 | 22.1 | (9 | %) | 46.1 | 43.9 | 5 | % | ||||||||||||||
Corporate | 0.6 | 0.9 | (33 | %) | (1.3 | ) | 1.7 | (a) | (176 | %) | ||||||||||||
Total | $ | 61.6 | $ | 63.7 | (3 | %) | $ | 207.9 | $ | 201.1 | (a) | 3 | % | |||||||||
Earnings from continuing operations per diluted share | $ | 0.34 | $ | 0.36 | (6 | %) | $ | 1.16 | $ | 1.13 | (a) | 3 | % | |||||||||
Average diluted shares | 179.0 | 178.8 | — | % | 178.8 | 178.0 | — | % | ||||||||||||||
(a) Excludes $8.8 million ($0.05 per diluted share) after-tax impact of separation costs in 2010. See computation in attached schedule. |
3 Months Ended December 31, | 12 Months Ended December 31, | |||||||||||||||||||||||
2011 | 2010 | Change | 2011 | 2010 | Change | |||||||||||||||||||
(in millions) | ||||||||||||||||||||||||
Wexpro | $ | 54.8 | $ | 52.2 | $ | 2.6 | $ | 213.9 | $ | 199.4 | $ | 14.5 | ||||||||||||
Questar Pipeline | 44.9 | 46.6 | (1.7 | ) | 181.5 | 181.6 | (0.1 | ) | ||||||||||||||||
Questar Gas | 50.2 | 51.6 | (1.4 | ) | 144.0 | 139.0 | 5.0 | |||||||||||||||||
Corporate, Other | 0.7 | 0.4 | 0.3 | 1.4 | 3.3 | (1.9 | ) | |||||||||||||||||
Total | $ | 150.6 | $ | 150.8 | $ | (0.2 | ) | $ | 540.8 | $ | 523.3 | $ | 17.5 | |||||||||||
(a) See computation in attached schedule. |
• | Wexpro earned a 20.0% after-tax return on an average investment base of $456.2 million, which was 4% higher than year-end 2010; |
• | Wexpro's proved reserves rose 3% to 790.7 Bcfe as it replaced 144% of its 2011 cost-of-service production; |
• | Questar Pipeline generated $6.5 million higher transportation revenues, which offset lower natural gas liquids (NGL) revenues in 2011; |
• | Questar Pipeline issued $180 million of 30-year notes in December to refinance notes paid off earlier in the year using short-term debt. For 2011, interest expense was $4.3 million lower than in 2010 as the company benefited from very low short-term interest rates; |
• | Questar Gas earned its authorized return on equity for the seventh consecutive year; |
• | Questar Gas increased feeder-line-replacement expenditures to $58.6 million, as part of its ongoing commitment to pipeline integrity management; |
• | Questar's consolidated net cash flow from operating activities before working capital changes increased $24.9 million to $484.1 million in 2011 compared to 2010, aided by higher depreciation and deferred taxes from 100% bonus depreciation. |
12 Months Ended December 31, | ||||||||
2011 | 2010 | |||||||
(in millions) | ||||||||
Beginning investment base | $ | 456.6 | $ | 431.9 | ||||
Successful development wells | 118.0 | 99.9 | ||||||
Depreciation, depletion and amortization | (60.2 | ) | (57.9 | ) | ||||
Change in deferred taxes | (40.0 | ) | (17.3 | ) | ||||
Ending Investment Base | $ | 474.4 | $ | 456.6 |
3 Months Ended December 31, 2011 vs 2010 | 12 Months Ended December 31, 2011 vs 2010 | |||||||
(in millions) | ||||||||
Transportation | $ | 2.0 | $ | 6.5 | ||||
Storage | 0.3 | 0.7 | ||||||
NGL sales - transportation | (2.2 | ) | (3.4 | ) | ||||
NGL sales - field services | (1.7 | ) | (3.3 | ) | ||||
Energy services, Other | (1.7 | ) | 0.1 | |||||
Increase (decrease) | $ | (3.3 | ) | $ | 0.6 |
3 Months Ended December 31, 2011 vs 2010 | 12 Months Ended December 31, 2011 vs 2010 | |||||||
(in millions) | ||||||||
New Customers | $ | 0.8 | $ | 2.7 | ||||
Change in rates | — | 1.2 | ||||||
Demand-side-management cost recovery | 2.6 | 0.8 | ||||||
Recovery of gas-cost portion of bad debt costs | (0.6 | ) | 0.3 | |||||
Feeder-line tracker | 2.2 | 4.3 | ||||||
Other | 1.6 | 3.1 | ||||||
Increase | $ | 6.6 | $ | 12.4 |
• | Questar Pipeline operates interstate natural gas pipelines and storage facilities in the western U.S. and provides other energy services; and |
• | Questar Gas provides retail natural gas distribution in Utah, Wyoming and Idaho. |
• | general economic conditions, including the performance of financial markets and interest rates; |
• | changes in industry trends; |
• | changes in laws or regulations; and |
• | other factors, most of which are beyond Questar's control. |
QUESTAR CORPORATION | |||||||||||||||
CONSOLIDATED STATEMENTS OF INCOME | |||||||||||||||
(Unaudited) | |||||||||||||||
3 Months Ended | 12 Months Ended | ||||||||||||||
December 31, | December 31, | ||||||||||||||
2011 | 2010 | 2011 | 2010 | ||||||||||||
(in millions, except per-share amounts) | |||||||||||||||
REVENUES | |||||||||||||||
Questar Gas | $ | 297.8 | $ | 302.7 | $ | 965.5 | $ | 901.8 | |||||||
Questar Pipeline | 48.6 | 52.0 | 197.4 | 197.2 | |||||||||||
Wexpro | 8.4 | 8.0 | 31.5 | 24.6 | |||||||||||
Total Revenues | 354.8 | 362.7 | 1,194.4 | 1,123.6 | |||||||||||
OPERATING EXPENSES | |||||||||||||||
Cost of sales (excluding operating expenses shown separately) | 110.4 | 127.4 | 321.5 | 280.9 | |||||||||||
Operating and maintenance | 49.3 | 47.9 | 175.9 | 175.8 | |||||||||||
General and administrative | 34.6 | 30.1 | 117.9 | 108.5 | |||||||||||
Separation costs | — | — | — | 11.5 | |||||||||||
Production and other taxes | 12.3 | 10.9 | 52.5 | 50.6 | |||||||||||
Depreciation, depletion and amortization | 41.5 | 38.9 | 159.9 | 153.4 | |||||||||||
Total Operating Expenses | 248.1 | 255.2 | 827.7 | 780.7 | |||||||||||
Net gain (loss) from asset sales | (0.1 | ) | 0.3 | 0.2 | 0.4 | ||||||||||
OPERATING INCOME | 106.6 | 107.8 | 366.9 | 343.3 | |||||||||||
Interest and other income | 1.5 | 3.4 | 10.4 | 11.7 | |||||||||||
Income from unconsolidated affiliate | 0.9 | 1.0 | 3.8 | 3.8 | |||||||||||
Interest expense | (12.7 | ) | (14.7 | ) | (56.8 | ) | (57.1 | ) | |||||||
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES | 96.3 | 97.5 | 324.3 | 301.7 | |||||||||||
Income taxes | (34.7 | ) | (33.8 | ) | (116.4 | ) | (109.4 | ) | |||||||
INCOME FROM CONTINUING OPERATIONS | 61.6 | 63.7 | 207.9 | 192.3 | |||||||||||
Income from discontinued operations, net of taxes | — | — | — | 148.2 | |||||||||||
Discontinued operations, noncontrolling interest | — | — | — | (1.3 | ) | ||||||||||
Total Discontinued Operations, Net Of Income Taxes | — | — | — | 146.9 | |||||||||||
NET INCOME ATTRIBUTABLE TO QUESTAR | $ | 61.6 | $ | 63.7 | $ | 207.9 | $ | 339.2 | |||||||
EARNINGS PER COMMMON SHARE ATTRIBUTABLE TO QUESTAR | |||||||||||||||
Basic from continuing operations | $ | 0.34 | $ | 0.36 | $ | 1.17 | $ | 1.09 | |||||||
Basic from discontinued operations | — | — | — | 0.84 | |||||||||||
Basic total | $ | 0.34 | $ | 0.36 | $ | 1.17 | $ | 1.93 | |||||||
Diluted from continuing operations | $ | 0.34 | $ | 0.36 | $ | 1.16 | $ | 1.08 | |||||||
Diluted from discontinued operations | — | — | — | 0.83 | |||||||||||
Diluted total | $ | 0.34 | $ | 0.36 | $ | 1.16 | $ | 1.91 | |||||||
Weighted-average common shares outstanding | |||||||||||||||
Used in basic calculation | 177.7 | 176.2 | 177.4 | 175.4 | |||||||||||
Used in diluted calculation | 179.0 | 178.8 | 178.8 | 178.0 | |||||||||||
Dividends per common share | $ | 0.1625 | $ | 0.14 | $ | 0.62 | $ | 0.54 |
QUESTAR CORPORATION | |||||||||||||||
OPERATIONS BY LINE OF BUSINESS | |||||||||||||||
(Unaudited) | |||||||||||||||
3 Months Ended | 12 Months Ended | ||||||||||||||
December 31, | December 31, | ||||||||||||||
2011 | 2010 | 2011 | 2010 | ||||||||||||
(in millions) | |||||||||||||||
Revenues from Unaffiliated Customers | |||||||||||||||
Wexpro | $ | 8.4 | $ | 8.0 | $ | 31.5 | $ | 24.6 | |||||||
Questar Pipeline | 48.6 | 52.0 | 197.4 | 197.2 | |||||||||||
Questar Gas | 297.8 | 302.7 | 965.5 | 901.8 | |||||||||||
Total | $ | 354.8 | $ | 362.7 | $ | 1,194.4 | $ | 1,123.6 | |||||||
Revenues from Affiliated Companies | |||||||||||||||
Wexpro | $ | 67.2 | $ | 61.1 | $ | 253.6 | $ | 240.2 | |||||||
Questar Pipeline | 18.6 | 18.5 | 74.4 | 74.0 | |||||||||||
Questar Gas | 1.1 | 0.5 | 3.3 | 1.1 | |||||||||||
Total | $ | 86.9 | $ | 80.1 | $ | 331.3 | $ | 315.3 | |||||||
Operating Income (Loss) | |||||||||||||||
Wexpro | $ | 37.4 | $ | 34.8 | $ | 145.7 | $ | 133.7 | |||||||
Questar Pipeline | 31.0 | 34.1 | 125.9 | 130.8 | |||||||||||
Questar Gas | 37.5 | 39.2 | 94.1 | 88.6 | |||||||||||
Corporate | 0.7 | (0.3 | ) | 1.2 | (9.8 | ) | |||||||||
Total | $ | 106.6 | $ | 107.8 | $ | 366.9 | $ | 343.3 | |||||||
Income (Loss) from Continuing Operations | |||||||||||||||
Wexpro | $ | 23.6 | $ | 22.7 | $ | 95.2 | $ | 88.1 | |||||||
Questar Pipeline | 17.2 | 18.0 | 67.9 | 67.4 | |||||||||||
Questar Gas | 20.2 | 22.1 | 46.1 | 43.9 | |||||||||||
Corporate | 0.6 | 0.9 | (1.3 | ) | (7.1 | ) | |||||||||
Total | $ | 61.6 | $ | 63.7 | $ | 207.9 | $ | 192.3 |
QUESTAR CORPORATION | |||||||||||||||
SELECTED OPERATING STATISTICS | |||||||||||||||
(Unaudited) | |||||||||||||||
3 Months Ended | 12 Months Ended | ||||||||||||||
December 31, | December 31, | ||||||||||||||
2011 | 2010 | 2011 | 2010 | ||||||||||||
WEXPRO | |||||||||||||||
Production volumes | |||||||||||||||
Natural gas (Bcf) | 13.4 | 12.7 | 50.5 | 50.2 | |||||||||||
Oil and NGL (MMbbl) | 0.2 | 0.1 | 0.5 | 0.4 | |||||||||||
Oil and NGL sales price (per bbl) | $81.31 | $71.34 | $82.11 | $65.55 | |||||||||||
Investment base at Dec. 31 (in millions) | $474.4 | $456.6 | |||||||||||||
QUESTAR PIPELINE | |||||||||||||||
Natural gas-transportation volumes (MMdth) | |||||||||||||||
For unaffiliated customers | 172.3 | 151.9 | 665.8 | 642.4 | |||||||||||
For Questar Gas | 28.5 | 22.6 | 116.9 | 112.0 | |||||||||||
Total transportation | 200.8 | 174.5 | 782.7 | 754.4 | |||||||||||
Transportation revenue (per dth) | $0.25 | $0.27 | $0.25 | $0.25 | |||||||||||
Net firm-daily transportation demand at Dec. 31 (Mdth) | 4,973 | 4,744 | |||||||||||||
Natural gas processing | |||||||||||||||
NGL sales (Mbbl) | 38 | 106 | 233 | 427 | |||||||||||
NGL sales price (per bbl) | $73.71 | $62.71 | $73.77 | $56.04 | |||||||||||
QUESTAR GAS | |||||||||||||||
Natural gas volumes (MMdth) | |||||||||||||||
Residential and commercial | 37.4 | 34.7 | 113.3 | 105.8 | |||||||||||
Industrial | 1.3 | 1.1 | 5.0 | 4.5 | |||||||||||
Transportation for industrial customers | 14.2 | 14.9 | 52.5 | 59.3 | |||||||||||
Total industrial | 15.5 | 16.0 | 57.5 | 63.8 | |||||||||||
Total deliveries | 52.9 | 50.7 | 170.8 | 169.6 | |||||||||||
Natural gas revenue (per dth) | |||||||||||||||
Residential and commercial sales | $7.46 | $8.29 | $7.88 | $7.88 | |||||||||||
Industrial | 6.08 | 6.49 | 6.03 | 5.89 | |||||||||||
Transportation for industrial customers | $0.20 | $0.11 | $0.21 | $0.16 | |||||||||||
Temperatures - colder (warmer) than normal | 2 | % | (6 | %) | 7 | % | 1 | % | |||||||
Temperature-adjusted usage per customer (dth) | 36.5 | 36.1 | 111.1 | 106.9 | |||||||||||
Customers at Dec. 31 (thousands) | 919 | 910 |
QUESTAR CORPORATION | |||||||
PRELIMINARY CONDENSED CONSOLIDATED BALANCE SHEETS | |||||||
(Unaudited) | |||||||
December 31, | December 31, | ||||||
2011 | 2010 | ||||||
(in millions) | |||||||
ASSETS | |||||||
Current Assets | |||||||
Cash and cash equivalents | $ | 11.6 | $ | 21.8 | |||
Accounts and notes receivable, net | 123.9 | 159.2 | |||||
Unbilled gas accounts receivable | 75.4 | 81.6 | |||||
Inventories | 66.0 | 62.7 | |||||
Prepaid expenses and other | 10.7 | 9.0 | |||||
Current regulatory assets | 31.7 | 53.5 | |||||
Deferred income taxes - current | 16.1 | 11.8 | |||||
Total Current Assets | 335.4 | 399.6 | |||||
Property, Plant and Equipment | 4,984.1 | 4,642.8 | |||||
Accumulated depreciation, depletion and amortization | (1,885.7 | ) | (1,758.2 | ) | |||
Net Property, Plant and Equipment | 3,098.4 | 2,884.6 | |||||
Investment in unconsolidated affiliate | 27.3 | 27.9 | |||||
Noncurrent regulatory and other assets | 71.7 | 61.5 | |||||
TOTAL ASSETS | $ | 3,532.8 | $ | 3,373.6 | |||
LIABILITIES AND COMMON SHAREHOLDERS' EQUITY | |||||||
Current Liabilities | |||||||
Short-term debt | $ | 219.0 | $ | 242.0 | |||
Accounts payable and accrued expenses | 242.9 | 225.1 | |||||
Current regulatory liabilities | 15.4 | 6.0 | |||||
Current portion of long-term debt | 91.5 | 182.0 | |||||
Total Current Liabilities | 568.8 | 655.1 | |||||
Long-term debt, less current portion | 993.0 | 898.5 | |||||
Deferred income taxes | 500.2 | 474.7 | |||||
Noncurrent regulatory and other liabilities | 437.3 | 309.2 | |||||
COMMON SHAREHOLDERS' EQUITY | |||||||
Common Shareholders' Equity | 1,033.5 | 1,036.1 | |||||
TOTAL LIABILITIES AND COMMON SHAREHOLDERS' EQUITY | $ | 3,532.8 | $ | 3,373.6 |
QUESTAR CORPORATION | |||||||
PRELIMINARY CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||
(Unaudited) | |||||||
12 Months Ended | |||||||
December 31, | |||||||
2011 | 2010 | ||||||
(in millions) | |||||||
OPERATING ACTIVITIES | |||||||
Net income | $ | 207.9 | $ | 340.5 | |||
Discontinued operations, net of income taxes | — | (148.2 | ) | ||||
Adjustments to reconcile net income to net cash provided by operating activities of continuing operations: | |||||||
Depreciation, depletion and amortization | 169.4 | 161.8 | |||||
Deferred income taxes | 96.2 | 91.4 | |||||
Share-based compensation | 10.1 | 15.4 | |||||
Net (gain) from asset sales | (0.2 | ) | (0.4 | ) | |||
(Income) from unconsolidated affiliate | (3.8 | ) | (3.8 | ) | |||
Distributions from unconsolidated affiliate and other | 4.5 | 2.5 | |||||
Changes in operating assets and liabilities | 4.9 | (108.3 | ) | ||||
NET CASH PROVIDED BY OPERATING ACTIVITIES OF CONTINUING OPERATIONS | 489.0 | 350.9 | |||||
INVESTING ACTIVITIES | |||||||
Property, plant and equipment | (367.7 | ) | (320.3 | ) | |||
Equity investment in QEP | — | (250.0 | ) | ||||
Cash used in disposition of assets | (3.5 | ) | (2.6 | ) | |||
Proceeds from disposition of assets and other | 0.3 | 0.6 | |||||
Change in notes receivable | — | 39.3 | |||||
Distribution from QEP | — | 7.3 | |||||
NET CASH USED IN INVESTING ACTIVITIES OF CONTINUING OPERATIONS | (370.9 | ) | (525.7 | ) | |||
FINANCING ACTIVITIES | |||||||
Common stock | 2.7 | 6.8 | |||||
Long-term debt issued, net of issuance costs | 174.9 | 244.6 | |||||
Long-term debt repaid | (182.0 | ) | — | ||||
Change in short-term debt | (23.0 | ) | 73.0 | ||||
Change in notes payable | — | (52.9 | ) | ||||
Dividends paid | (110.1 | ) | (94.8 | ) | |||
Tax benefits from share-based compensation | 9.2 | 8.4 | |||||
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES OF CONTINUING OPERATIONS | (128.3 | ) | 185.1 | ||||
CASH PROVIDED BY (USED IN) CONTINUING OPERATIONS | (10.2 | ) | 10.3 | ||||
Cash provided by operating activities of discontinued operations | — | 475.5 | |||||
Cash used in investing activities of discontinued operations | — | (598.6 | ) | ||||
Cash provided by financing activities of discontinued operations | — | 103.8 | |||||
Effect of change in cash and cash equivalents of discontinued operations | — | 19.3 | |||||
Change in cash and cash equivalents | (10.2 | ) | 10.3 | ||||
Beginning cash and cash equivalents | 21.8 | 11.5 | |||||
Ending cash and cash equivalents | $ | 11.6 | $ | 21.8 |
3 Months Ended | 12 Months Ended | ||||||||||||||
December 31, | December 31, | ||||||||||||||
2011 | 2010 | 2011 | 2010 | ||||||||||||
(in millions, except earnings per share) | |||||||||||||||
Income from continuing operations | $ | 61.6 | $ | 63.7 | $ | 207.9 | $ | 192.3 | |||||||
Separation costs | — | — | — | 11.5 | |||||||||||
Income taxes on separation costs | — | — | — | (2.7 | ) | ||||||||||
After-tax separation costs | — | — | — | 8.8 | |||||||||||
Income from continuing operations before separation costs | $ | 61.6 | $ | 63.7 | $ | 207.9 | $ | 201.1 | |||||||
EARNINGS PER COMMON SHARE | |||||||||||||||
Diluted from continuing operations | $ | 0.34 | $ | 0.36 | $ | 1.16 | $ | 1.08 | |||||||
Diluted from after-tax separation costs | — | — | — | 0.05 | |||||||||||
Earning per diluted share from continuing operations before separation costs | $ | 0.34 | $ | 0.36 | $ | 1.16 | $ | 1.13 |
Questar Consolidated | Wexpro Company | Questar Pipeline | Questar Gas | Corporate, Other | |||||||||||||||
(in millions) | |||||||||||||||||||
Income from continuing operations | $ | 61.6 | $ | 23.6 | $ | 17.2 | $ | 20.2 | $ | 0.6 | |||||||||
Depreciation, depletion and amortization | 41.5 | 16.5 | 13.3 | 11.6 | 0.1 | ||||||||||||||
Net loss from asset sales | 0.1 | 0.1 | — | — | — | ||||||||||||||
Interest expense | 12.7 | — | 5.0 | 6.4 | 1.3 | ||||||||||||||
Income taxes | 34.7 | 14.6 | 9.4 | 12.0 | (1.3 | ) | |||||||||||||
EBITDA | $ | 150.6 | $ | 54.8 | $ | 44.9 | $ | 50.2 | $ | 0.7 |
Questar Consolidated | Wexpro Company | Questar Pipeline | Questar Gas | Corporate, Other | |||||||||||||||
(in millions) | |||||||||||||||||||
Income from continuing operations | $ | 63.7 | $ | 22.7 | $ | 18.0 | $ | 22.1 | $ | 0.9 | |||||||||
Depreciation, depletion and amortization | 38.9 | 16.3 | 12.0 | 10.6 | — | ||||||||||||||
Net (gain) loss from asset sales | (0.3 | ) | 0.3 | (0.6 | ) | — | — | ||||||||||||
Interest expense | 14.7 | 0.1 | 7.0 | 6.7 | 0.9 | ||||||||||||||
Income taxes | 33.8 | 12.8 | 10.2 | 12.2 | (1.4 | ) | |||||||||||||
EBITDA | $ | 150.8 | $ | 52.2 | $ | 46.6 | $ | 51.6 | $ | 0.4 |
Questar Consolidated | Wexpro Company | Questar Pipeline | Questar Gas | Corporate, Other | |||||||||||||||
(in millions) | |||||||||||||||||||
Income (loss) from continuing operations | $ | 207.9 | $ | 95.2 | $ | 67.9 | $ | 46.1 | $ | (1.3 | ) | ||||||||
Depreciation, depletion and amortization | 159.9 | 63.9 | 51.2 | 44.5 | 0.3 | ||||||||||||||
Net (gain) loss from asset sales | (0.2 | ) | 0.1 | (0.3 | ) | — | — | ||||||||||||
Interest expense | 56.8 | — | 24.5 | 25.9 | 6.4 | ||||||||||||||
Income taxes | 116.4 | 54.7 | 38.2 | 27.5 | (4.0 | ) | |||||||||||||
EBITDA | $ | 540.8 | $ | 213.9 | $ | 181.5 | $ | 144.0 | $ | 1.4 |
Questar Consolidated | Wexpro Company | Questar Pipeline | Questar Gas | Corporate, Other | |||||||||||||||
(in millions) | |||||||||||||||||||
Income (loss) from continuing operations | $ | 192.3 | $ | 88.1 | $ | 67.4 | $ | 43.9 | $ | (7.1 | ) | ||||||||
Separation costs | 11.5 | — | — | — | 11.5 | ||||||||||||||
Depreciation, depletion and amortization | 153.4 | 62.1 | 47.4 | 43.7 | 0.2 | ||||||||||||||
Net (gain) loss from asset sales | (0.4 | ) | 0.4 | (0.8 | ) | — | — | ||||||||||||
Interest expense | 57.1 | 0.3 | 28.8 | 26.2 | 1.8 | ||||||||||||||
Income taxes | 109.4 | 48.5 | 38.8 | 25.2 | (3.1 | ) | |||||||||||||
EBITDA | $ | 523.3 | $ | 199.4 | $ | 181.6 | $ | 139.0 | $ | 3.3 |