Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended |
Sep. 30, 2013 | |
Entity Information [Line Items] | ' |
Entity Registrant Name | 'QUESTAR CORP |
Entity Central Index Key | '0000751652 |
Current Fiscal Year End Date | '--12-31 |
Entity Filer Category | 'Large Accelerated Filer |
Document Type | '10-Q |
Document Period End Date | 30-Sep-13 |
Document Fiscal Year Focus | '2013 |
Document Fiscal Period Focus | 'Q3 |
Amendment Flag | 'false |
Entity Common Stock, Shares Outstanding | 175,070,395 |
Questar Gas [Member] | ' |
Entity Information [Line Items] | ' |
Entity Registrant Name | 'QUESTAR GAS CO |
Entity Central Index Key | '0000068589 |
Current Fiscal Year End Date | '--12-31 |
Entity Filer Category | 'Non-accelerated Filer |
Document Type | '10-Q |
Document Period End Date | 30-Sep-13 |
Document Fiscal Year Focus | '2013 |
Document Fiscal Period Focus | 'Q3 |
Amendment Flag | 'false |
Entity Common Stock, Shares Outstanding | 9,189,626 |
Questar Pipeline [Member] | ' |
Entity Information [Line Items] | ' |
Entity Registrant Name | 'QUESTAR PIPELINE CO |
Entity Central Index Key | '0000764044 |
Current Fiscal Year End Date | '--12-31 |
Entity Filer Category | 'Non-accelerated Filer |
Document Type | '10-Q |
Document Period End Date | 30-Sep-13 |
Document Fiscal Year Focus | '2013 |
Document Fiscal Period Focus | 'Q3 |
Amendment Flag | 'false |
Entity Common Stock, Shares Outstanding | 6,550,843 |
CONSOLIDATED_STATEMENTS_OF_INC
CONSOLIDATED STATEMENTS OF INCOME (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
REVENUES | ' | ' | ' | ' | ' | ' |
Questar Gas / Revenues from unaffiliated customers | $89.40 | $82.50 | $647.80 | $578.70 | $928.80 | $876.50 |
Wexpro | 13.2 | 9.8 | 32 | 27.1 | 41 | 35.5 |
Questar Pipeline / Revenues from unaffiliated customers | 47 | 49.5 | 142.3 | 150.1 | 195.3 | 198.7 |
Total Revenues | 149.6 | 141.8 | 822.1 | 755.9 | 1,165.10 | 1,110.70 |
OPERATING EXPENSES | ' | ' | ' | ' | ' | ' |
Cost of sales (excluding operating expenses shown separately) | -35 | -42.1 | 157.4 | 99.1 | 250.6 | 209.5 |
Operating and maintenance | 36.4 | 36.8 | 122.2 | 133.2 | 169.8 | 182.5 |
General and administrative | 24.4 | 29 | 90.2 | 88 | 123 | 122.6 |
Retirement incentive | 0 | 0 | 0 | 0 | 4.9 | 0 |
Production and other taxes | 15.2 | 11.1 | 45.2 | 38 | 55.1 | 50.3 |
Depreciation, depletion and amortization | 47.4 | 45.9 | 143.4 | 135.6 | 189.4 | 177.1 |
Asset impairment | 80.6 | 0 | 80.6 | 0 | 80.6 | 0 |
Total Operating Expenses | 169 | 80.7 | 639 | 493.9 | 873.4 | 742 |
Net gain (loss) from asset sales | 0 | 2.5 | 0.1 | 5.1 | 0.1 | 5 |
OPERATING INCOME (LOSS) | -19.4 | 63.6 | 183.2 | 267.1 | 291.8 | 373.7 |
Interest and other income | 3.1 | 1.7 | 9.2 | 5.7 | 10.5 | 7.2 |
Income from unconsolidated affiliate | 0.9 | 1 | 2.8 | 2.8 | 3.7 | 3.7 |
Interest expense | -13.9 | -14.5 | -42.7 | -44.3 | -56.3 | -57 |
INCOME (LOSS) BEFORE INCOME TAXES | -29.3 | 51.8 | 152.5 | 231.3 | 249.7 | 327.6 |
Income taxes | 10.1 | -18 | -59.4 | -83.1 | -92.8 | -117.8 |
NET INCOME (LOSS) | -19.2 | 33.8 | 93.1 | 148.2 | 156.9 | 209.8 |
Earnings (Loss) Per Common Share | ' | ' | ' | ' | ' | ' |
Basic | ($0.11) | $0.20 | $0.53 | $0.84 | $0.89 | $1.18 |
Diluted | ($0.11) | $0.19 | $0.53 | $0.83 | $0.89 | $1.18 |
Weighted-average common shares outstanding | ' | ' | ' | ' | ' | ' |
Used in basic calculation | 175.5 | 175.4 | 175.4 | 177 | 175.5 | 177.2 |
Used in diluted calculation | 175.5 | 176.5 | 176.1 | 178.1 | 176.1 | 178.3 |
Dividends per common share (in dollars per share) | $0.18 | $0.17 | $0.53 | $0.50 | $0.70 | $0.66 |
Questar Gas [Member] | ' | ' | ' | ' | ' | ' |
REVENUES | ' | ' | ' | ' | ' | ' |
Questar Gas / Revenues from unaffiliated customers | 89.4 | 82.5 | 647.8 | 578.7 | 928.8 | 876.5 |
Revenues from affiliated company | 0.2 | 0.5 | 0.6 | 2.3 | 0.8 | 3.4 |
Total Revenues | 89.6 | 83 | 648.4 | 581 | 929.6 | 879.9 |
OPERATING EXPENSES | ' | ' | ' | ' | ' | ' |
Cost of natural gas sold (excluding operating expenses shown separately) | 50.1 | 44.7 | 424.2 | 356.4 | 601.1 | 551.6 |
Operating and maintenance | 20.9 | 21.4 | 78.1 | 87.2 | 109.9 | 123.1 |
General and administrative | 12.1 | 12.1 | 38.5 | 36.5 | 53.2 | 52.6 |
Retirement incentive | 0 | 0 | 0 | 0 | 2.4 | 0 |
Depreciation and amortization | 12.4 | 11.4 | 36.9 | 35 | 49.1 | 46.6 |
Other taxes | 5.3 | 4.1 | 15.4 | 13.3 | 18.3 | 15.9 |
Total Operating Expenses | 100.8 | 93.7 | 593.1 | 528.4 | 834 | 789.8 |
OPERATING INCOME (LOSS) | -11.2 | -10.7 | 55.3 | 52.6 | 95.6 | 90.1 |
Interest and other income | 1.3 | 1.4 | 3.8 | 3.8 | 5.5 | 4.9 |
Interest expense | -5.3 | -5.8 | -16.7 | -19.1 | -21.7 | -25.5 |
INCOME (LOSS) BEFORE INCOME TAXES | -15.2 | -15.1 | 42.4 | 37.3 | 79.4 | 69.5 |
Income taxes | 6.2 | 5.8 | -15.6 | -14 | -28.8 | -26 |
NET INCOME (LOSS) | -9 | -9.3 | 26.8 | 23.3 | 50.6 | 43.5 |
Questar Pipeline [Member] | ' | ' | ' | ' | ' | ' |
REVENUES | ' | ' | ' | ' | ' | ' |
Questar Pipeline / Revenues from unaffiliated customers | 47 | 49.5 | 142.3 | 150.1 | 195.3 | 198.7 |
Revenues from affiliated companies | 17.6 | 18.4 | 54.8 | 55.2 | 74 | 73.8 |
Total Revenues | 64.6 | 67.9 | 197.1 | 205.3 | 269.3 | 272.5 |
OPERATING EXPENSES | ' | ' | ' | ' | ' | ' |
Operating and maintenance | 8.8 | 9.1 | 23.2 | 26.4 | 32 | 33.6 |
General and administrative | 10.8 | 12 | 35.3 | 36.5 | 48.8 | 49.3 |
Retirement incentive | 0 | 0 | 0 | 0 | 0.9 | 0 |
Depreciation and amortization | 14 | 13.6 | 42.2 | 40.6 | 55.9 | 53.9 |
Asset impairment | 80.6 | 0 | 80.6 | 0 | 80.6 | 0 |
Other taxes | 2.5 | 2.4 | 7.4 | 7.3 | 9.2 | 9.4 |
Cost of sales (excluding operating expenses shown separately) | 0.5 | 0.7 | 2.7 | 1.9 | 7.5 | 2.7 |
Total Operating Expenses | 117.2 | 37.8 | 191.4 | 112.7 | 234.9 | 148.9 |
Net gain (loss) from asset sales | 0 | 2.5 | 0 | 2.6 | 0.1 | 2.6 |
OPERATING INCOME (LOSS) | -52.6 | 32.6 | 5.7 | 95.2 | 34.5 | 126.2 |
Interest and other income | 0.6 | 0 | 1.2 | 0.3 | 1.5 | 0 |
Income from unconsolidated affiliate | 0.9 | 1 | 2.8 | 2.8 | 3.7 | 3.7 |
Interest expense | -6.5 | -6.6 | -19.5 | -19.8 | -26 | -24.8 |
INCOME (LOSS) BEFORE INCOME TAXES | -57.6 | 27 | -9.8 | 78.5 | 13.7 | 105.1 |
Income taxes | 19.7 | -9.9 | 2.2 | -28.7 | -6.4 | -38.1 |
NET INCOME (LOSS) | ($37.90) | $17.10 | ($7.60) | $49.80 | $7.30 | $67 |
CONDENSED_CONSOLIDATED_STATEME
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Net income (loss) | ($19.20) | $33.80 | $93.10 | $148.20 | $156.90 | $209.80 |
Other comprehensive income (loss): | ' | ' | ' | ' | ' | ' |
Pension and other postretirement benefits | 9 | 6.6 | 24.7 | 19.8 | -28.1 | -150.6 |
Interest rate cash flow hedges | 0.1 | 0.2 | 0.4 | 0.4 | 0.4 | -0.6 |
Change in fair value of long-term investment | 0 | 0.1 | -0.1 | 0.1 | -0.1 | 0.1 |
Income taxes | -3.4 | -2.8 | -9.4 | -7.9 | 10.8 | 57.7 |
Net other comprehensive income (loss) | 5.7 | 4.1 | 15.6 | 12.4 | -17 | -93.4 |
COMPREHENSIVE INCOME (LOSS) | -13.5 | 37.9 | 108.7 | 160.6 | 139.9 | 116.4 |
Questar Pipeline [Member] | ' | ' | ' | ' | ' | ' |
Net income (loss) | -37.9 | 17.1 | -7.6 | 49.8 | 7.3 | 67 |
Other comprehensive income (loss): | ' | ' | ' | ' | ' | ' |
Interest rate cash flow hedges | 0.1 | 0.2 | 0.4 | 0.4 | 0.4 | -0.6 |
Income taxes | 0 | -0.1 | -0.1 | -0.2 | -0.1 | 0.2 |
Net other comprehensive income (loss) | 0.1 | 0.1 | 0.3 | 0.2 | 0.3 | -0.4 |
COMPREHENSIVE INCOME (LOSS) | ($37.80) | $17.20 | ($7.30) | $50 | $7.60 | $66.60 |
CONDENSED_CONSOLIDATED_BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
Current Assets | ' | ' | ' |
Cash and cash equivalents | $0 | $16,800,000 | $0 |
Accounts receivable, net | 58,000,000 | 114,300,000 | 60,000,000 |
Unbilled gas accounts receivable | 11,700,000 | 78,300,000 | 10,600,000 |
Gas stored underground | 59,400,000 | 39,000,000 | 62,100,000 |
Materials and supplies | 24,000,000 | 24,500,000 | 25,700,000 |
Current regulatory assets | 49,300,000 | 46,700,000 | 56,800,000 |
Prepaid expenses and other | 6,000,000 | 13,100,000 | 6,500,000 |
Deferred income taxes - current | 8,800,000 | 13,000,000 | 6,500,000 |
Total Current Assets | 217,200,000 | 345,700,000 | 228,200,000 |
Property, Plant and Equipment | 5,583,800,000 | 5,333,300,000 | 5,244,400,000 |
Accumulated depreciation, depletion and amortization | -2,088,800,000 | -2,016,300,000 | -1,983,200,000 |
Net Property, Plant and Equipment | 3,495,000,000 | 3,317,000,000 | 3,261,200,000 |
Investment in unconsolidated affiliate | 25,800,000 | 26,500,000 | 26,800,000 |
Noncurrent regulatory assets | 21,300,000 | 21,600,000 | 21,700,000 |
Other noncurrent assets | 50,900,000 | 46,300,000 | 44,500,000 |
TOTAL ASSETS | 3,810,200,000 | 3,757,100,000 | 3,582,400,000 |
Current Liabilities | ' | ' | ' |
Checks outstanding in excess of cash balances | 1,600,000 | 0 | 5,400,000 |
Short-term debt | 355,000,000 | 263,000,000 | 263,000,000 |
Accounts payable and accrued expenses | 211,600,000 | 235,200,000 | 215,600,000 |
Current regulatory liabilities | 1,800,000 | 5,800,000 | 4,300,000 |
Current portion of long-term debt and capital lease obligation | 800,000 | 42,700,000 | 109,200,000 |
Total Current Liabilities | 570,800,000 | 546,700,000 | 597,500,000 |
Long-term debt and capital lease obligation, less current portion | 1,136,100,000 | 1,138,200,000 | 988,900,000 |
Deferred income taxes | 645,900,000 | 603,400,000 | 563,500,000 |
Asset retirement obligations | 65,900,000 | 67,200,000 | 66,300,000 |
Defined benefit pension plan and other postretirement benefits | 257,300,000 | 303,700,000 | 246,900,000 |
Customer contributions in aid of construction | 31,500,000 | 22,900,000 | 30,400,000 |
Regulatory and other noncurrent liabilities | 44,100,000 | 39,400,000 | 39,300,000 |
COMMON SHAREHOLDERS' EQUITY | ' | ' | ' |
Common stock | 449,700,000 | 442,400,000 | 457,800,000 |
Retained earnings | 839,600,000 | 839,500,000 | 805,500,000 |
Accumulated other comprehensive (loss) | -230,700,000 | -246,300,000 | -213,700,000 |
Total Common Shareholders' Equity | 1,058,600,000 | 1,035,600,000 | 1,049,600,000 |
TOTAL LIABILITIES AND COMMON SHAREHOLDERS' EQUITY | 3,810,200,000 | 3,757,100,000 | 3,582,400,000 |
Questar Gas [Member] | ' | ' | ' |
Current Assets | ' | ' | ' |
Cash and cash equivalents | 0 | 1,400,000 | 0 |
Accounts receivable, net | 24,200,000 | 67,000,000 | 26,900,000 |
Unbilled gas accounts receivable | 11,700,000 | 78,200,000 | 10,500,000 |
Accounts receivable from affiliates | 31,400,000 | 31,800,000 | 22,200,000 |
Gas stored underground | 56,500,000 | 38,300,000 | 58,400,000 |
Materials and supplies | 12,200,000 | 13,500,000 | 13,500,000 |
Current regulatory assets | 45,500,000 | 41,000,000 | 52,400,000 |
Prepaid expenses and other | 2,400,000 | 3,200,000 | 2,800,000 |
Deferred income taxes - current | 1,500,000 | 1,500,000 | 0 |
Total Current Assets | 185,400,000 | 275,900,000 | 186,700,000 |
Property, Plant and Equipment | 2,147,800,000 | 2,040,900,000 | 2,013,600,000 |
Accumulated depreciation, depletion and amortization | -790,300,000 | -762,800,000 | -758,600,000 |
Net Property, Plant and Equipment | 1,357,500,000 | 1,278,100,000 | 1,255,000,000 |
Noncurrent regulatory assets | 16,500,000 | 16,400,000 | 16,000,000 |
Goodwill | 5,600,000 | 5,600,000 | 5,600,000 |
Other noncurrent assets | 3,000,000 | 3,100,000 | 2,100,000 |
TOTAL ASSETS | 1,568,000,000 | 1,579,100,000 | 1,465,400,000 |
Current Liabilities | ' | ' | ' |
Checks outstanding in excess of cash balances | 1,400,000 | 0 | 2,000,000 |
Notes payable to Questar | 195,000,000 | 166,100,000 | 206,600,000 |
Accounts payable and accrued expenses | 80,300,000 | 105,000,000 | 72,800,000 |
Accounts payable to affiliates | 49,900,000 | 50,900,000 | 46,200,000 |
Customer advances | 21,900,000 | 30,200,000 | 32,200,000 |
Current regulatory liabilities | 500,000 | 4,300,000 | 1,800,000 |
Deferred income taxes - current | 0 | 0 | 4,000,000 |
Current portion of long-term debt and capital lease obligation | 0 | 42,000,000 | 108,500,000 |
Total Current Liabilities | 349,000,000 | 398,500,000 | 474,100,000 |
Long-term debt and capital lease obligation, less current portion | 384,500,000 | 384,500,000 | 234,500,000 |
Deferred income taxes | 330,700,000 | 301,600,000 | 270,800,000 |
Customer contributions in aid of construction | 31,500,000 | 22,900,000 | 30,400,000 |
Regulatory and other noncurrent liabilities | 3,400,000 | 4,000,000 | 3,800,000 |
COMMON SHAREHOLDERS' EQUITY | ' | ' | ' |
Common stock | 23,000,000 | 23,000,000 | 23,000,000 |
Additional paid-in capital | 173,600,000 | 172,500,000 | 172,200,000 |
Retained earnings | 272,300,000 | 272,100,000 | 256,600,000 |
Total Common Shareholders' Equity | 468,900,000 | 467,600,000 | 451,800,000 |
TOTAL LIABILITIES AND COMMON SHAREHOLDERS' EQUITY | 1,568,000,000 | 1,579,100,000 | 1,465,400,000 |
Questar Pipeline [Member] | ' | ' | ' |
Current Assets | ' | ' | ' |
Cash and cash equivalents | 1,500,000 | 7,100,000 | 400,000 |
Notes receivable from Questar | 36,600,000 | 38,700,000 | 42,000,000 |
Accounts receivable, net | 17,800,000 | 19,100,000 | 19,800,000 |
Accounts receivable from affiliates | 32,700,000 | 27,500,000 | 28,200,000 |
Gas stored underground | 2,900,000 | 700,000 | 3,700,000 |
Materials and supplies | 7,500,000 | 6,500,000 | 7,000,000 |
Current regulatory assets | 3,800,000 | 5,700,000 | 4,400,000 |
Prepaid expenses and other | 1,800,000 | 7,700,000 | 1,900,000 |
Deferred income taxes - current | 1,600,000 | 1,600,000 | 1,800,000 |
Total Current Assets | 106,200,000 | 114,600,000 | 109,200,000 |
Property, Plant and Equipment | 1,766,100,000 | 1,840,100,000 | 1,821,900,000 |
Accumulated depreciation, depletion and amortization | -617,800,000 | -629,300,000 | -618,700,000 |
Net Property, Plant and Equipment | 1,148,300,000 | 1,210,800,000 | 1,203,200,000 |
Investment in unconsolidated affiliate | 25,800,000 | 26,500,000 | 26,800,000 |
Goodwill | 4,200,000 | 4,200,000 | 4,200,000 |
Regulatory and other noncurrent assets | 8,200,000 | 9,000,000 | 9,500,000 |
TOTAL ASSETS | 1,292,700,000 | 1,365,100,000 | 1,352,900,000 |
Current Liabilities | ' | ' | ' |
Accounts payable and accrued expenses | 35,900,000 | 25,700,000 | 66,500,000 |
Accounts payable to affiliates | 3,700,000 | 16,900,000 | 3,200,000 |
Current regulatory liabilities | 1,300,000 | 1,500,000 | 2,500,000 |
Total Current Liabilities | 40,900,000 | 44,100,000 | 72,200,000 |
Long-term debt and capital lease obligation, less current portion | 458,800,000 | 458,900,000 | 458,900,000 |
Deferred income taxes | 226,900,000 | 242,500,000 | 201,800,000 |
Regulatory and other noncurrent liabilities | 13,900,000 | 13,800,000 | 13,800,000 |
COMMON SHAREHOLDERS' EQUITY | ' | ' | ' |
Common stock | 6,600,000 | 6,600,000 | 6,600,000 |
Additional paid-in capital | 349,200,000 | 347,500,000 | 347,100,000 |
Retained earnings | 219,300,000 | 274,900,000 | 275,700,000 |
Accumulated other comprehensive (loss) | -22,900,000 | -23,200,000 | -23,200,000 |
Total Common Shareholders' Equity | 552,200,000 | 605,800,000 | 606,200,000 |
TOTAL LIABILITIES AND COMMON SHAREHOLDERS' EQUITY | $1,292,700,000 | $1,365,100,000 | $1,352,900,000 |
CONDENSED_CONSOLIDATED_STATEME1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
OPERATING ACTIVITIES | ' | ' |
Net income (loss) | $93.10 | $148.20 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation, depletion and amortization | 148.7 | 141.3 |
Deferred income taxes | 37.2 | 65.1 |
Asset impairment | 80.6 | 0 |
Share-based compensation | 7.7 | 7.5 |
Net (gain) from asset sales | -0.1 | -5.1 |
(Income) from unconsolidated affiliate | -2.8 | -2.8 |
Distributions from unconsolidated affiliate and other | 4.2 | 3.7 |
Changes in operating assets and liabilities | 55.4 | 28.1 |
Net Cash Provided By Operating Activities | 424 | 386 |
INVESTING ACTIVITIES | ' | ' |
Property, plant and equipment | -287.4 | -276.1 |
Wexpro acquisition of producing properties | -106.7 | 0 |
Cash used in disposition of assets | -3.1 | -2.5 |
Proceeds from disposition of assets | 0.6 | 4.5 |
Net Cash Used In Investing Activities | -396.6 | -274.1 |
FINANCING ACTIVITIES | ' | ' |
Common stock issued | 2.2 | 4.7 |
Common stock repurchased | -4.2 | -72.5 |
Change in short-term debt | 92 | 44 |
Long-term debt and capital lease obligation repaid | -42.6 | -25.6 |
Long-term debt issuance costs | -1.7 | 0 |
Checks outstanding in excess of cash balances | 1.6 | 5.4 |
Dividends paid | -93 | -87.6 |
Tax benefits from share-based compensation | 1.5 | 8.1 |
Net Cash Provided By (Used In) Financing Activities | -44.2 | -123.5 |
Change in cash and cash equivalents | -16.8 | -11.6 |
Beginning cash and cash equivalents | 16.8 | 11.6 |
Ending cash and cash equivalents | 0 | 0 |
Supplemental Disclosure of Noncash Investing and Financing Transaction: | ' | ' |
Capital lease obligation incurred | ' | 40.8 |
Questar Gas [Member] | ' | ' |
OPERATING ACTIVITIES | ' | ' |
Net income (loss) | 26.8 | 23.3 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 40.7 | 38.7 |
Deferred income taxes | 29.1 | 20.6 |
Share-based compensation | 1.1 | 0.9 |
Changes in operating assets and liabilities | 49.9 | 17.6 |
Net Cash Provided By Operating Activities | 147.6 | 101.1 |
INVESTING ACTIVITIES | ' | ' |
Property, plant and equipment | -119.3 | -120.8 |
Cash used in disposition of assets | -2.5 | -1.8 |
Proceeds from disposition of assets | 0.3 | 0.3 |
Affiliated-company property, plant and equipment transfers | 10.8 | 0 |
Net Cash Used In Investing Activities | -110.7 | -122.3 |
FINANCING ACTIVITIES | ' | ' |
Long-term debt and capital lease obligation repaid | -42 | -25 |
Change in notes payable to Questar | 28.9 | 63.9 |
Checks outstanding in excess of cash balances | 1.4 | 2 |
Dividends paid | -26.6 | -24.7 |
Net Cash Provided By (Used In) Financing Activities | -38.3 | 16.2 |
Change in cash and cash equivalents | -1.4 | -5 |
Beginning cash and cash equivalents | 1.4 | 5 |
Ending cash and cash equivalents | 0 | 0 |
Questar Pipeline [Member] | ' | ' |
OPERATING ACTIVITIES | ' | ' |
Net income (loss) | -7.6 | 49.8 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 44.1 | 42.5 |
Deferred income taxes | -15.7 | 5 |
Asset impairment | 80.6 | 0 |
Share-based compensation | 1.6 | 1.5 |
Net (gain) from asset sales | 0 | -2.6 |
(Income) from unconsolidated affiliate | -2.8 | -2.8 |
Distributions from unconsolidated affiliate and other | 3.9 | 3.7 |
Changes in operating assets and liabilities | 3.6 | 18.5 |
Net Cash Provided By Operating Activities | 107.7 | 115.6 |
INVESTING ACTIVITIES | ' | ' |
Property, plant and equipment | -56.2 | -41.6 |
Cash used in disposition of assets | -0.6 | -0.7 |
Proceeds from disposition of assets | 0.1 | 4.2 |
Affiliated-company property, plant and equipment transfers | -10.7 | 0 |
Net Cash Used In Investing Activities | -67.4 | -38.1 |
FINANCING ACTIVITIES | ' | ' |
Change in notes receivable from Questar | 2.1 | -33.2 |
Dividends paid | -48 | -47.3 |
Net Cash Provided By (Used In) Financing Activities | -45.9 | -80.5 |
Change in cash and cash equivalents | -5.6 | -3 |
Beginning cash and cash equivalents | 7.1 | 3.4 |
Ending cash and cash equivalents | $1.50 | $0.40 |
Nature_of_Business
Nature of Business | 9 Months Ended | |
Sep. 30, 2013 | ||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |
Nature of Business | ' | |
Note 1 - Nature of Business | ||
Questar Corporation is a Rockies-based integrated natural gas company with three principal complementary and wholly-owned lines of business: | ||
• | Questar Gas Company (Questar Gas) provides retail natural gas distribution in Utah, Wyoming and Idaho. | |
• | Wexpro Company (Wexpro) develops and produces natural gas from cost-of-service reserves for Questar Gas customers. | |
• | Questar Pipeline Company (Questar Pipeline) operates interstate natural gas pipelines and storage facilities in the western United States and provides other energy services. | |
Questar is headquartered in Salt Lake City, Utah. Shares of Questar common stock trade on the New York Stock Exchange (NYSE:STR). |
Basis_of_Presentation_of_Inter
Basis of Presentation of Interim Financial Statements | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |||||||||||||||||||||||
Basis of Presentation of Interim Financial Statements | ' | |||||||||||||||||||||||
Note 2 - Basis of Presentation of Interim Financial Statements | ||||||||||||||||||||||||
The interim financial statements contain the accounts of Questar and its wholly-owned subsidiaries. The financial statements were prepared in accordance with U.S. generally accepted accounting principles (GAAP), the instructions for Quarterly Reports on Form 10-Q and SEC Regulations S-X and S-K. All significant intercompany accounts and transactions have been eliminated in consolidation. | ||||||||||||||||||||||||
The financial statements reflect all normal, recurring adjustments and accruals that are, in the opinion of management, necessary for a fair presentation of financial position and results of operations for the interim periods presented. Interim financial statements do not include all of the information and notes required by GAAP for audited annual financial statements. These financial statements should be read in conjunction with the financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2012. | ||||||||||||||||||||||||
The preparation of financial statements and notes in conformity with GAAP requires that management make estimates and assumptions that affect the amounts of revenues, expenses, assets and liabilities, and disclosure of contingent assets and liabilities. Actual results could differ from estimates. The results of operations for the three, nine and 12 months ended September 30, 2013, are not necessarily indicative of the results that may be expected for the year ending December 31, 2013. | ||||||||||||||||||||||||
Certain reclassifications were made to prior year information to conform to the current year presentation. This includes reclassifications on the Questar Condensed Consolidated Statements of Comprehensive Income and Condensed Consolidated Balance Sheets to reflect revised accounting for reclassifications out of accumulated other comprehensive loss related to the Company's pension and other postretirement benefit plans. | ||||||||||||||||||||||||
Questar uses the equity method to account for its investment in an unconsolidated affiliate where it does not have control, but has significant influence. White River Hub, LLC is a limited liability company and FERC-regulated transporter of natural gas. Questar Pipeline owns 50% of White River Hub, LLC and is the operator. Generally, the investment in White River Hub, LLC on the Company's balance sheets equals the Company's proportionate share of equity reported by White River Hub, LLC. The investment is assessed for possible impairment when events indicate that the fair value of the investment may be below the Company's carrying value. When such a condition is deemed to be other-than-temporary, the carrying value of the investment is written down to its fair value, and the amount of the write-down is included in the determination of net income. | ||||||||||||||||||||||||
Questar Gas obtains the majority of its gas supply from Wexpro's cost-of-service production and pays Wexpro an operator service fee based on the terms of the Wexpro Agreement. Questar Gas also obtains transportation and storage services from Questar Pipeline. These intercompany revenues and expenses are eliminated in the Questar Consolidated Statements of Income by reducing revenues and cost of sales. The underlying costs of Wexpro's production and Questar Pipeline's transportation and storage services are disclosed in other categories in the Consolidated Statements of Income, including operating and maintenance expense and depreciation, depletion and amortization expense. During the second and third quarters of the year, a significant portion of the natural gas from Wexpro production is injected into underground storage. This gas is withdrawn from storage as needed during the heating season in the first and fourth quarters. The cost of natural gas sold is credited with the value of natural gas as it is injected into storage and debited as it is withdrawn from storage. The reported balance in consolidated cost of sales may be a negative amount during the second and third quarters because of the entries to record injection of gas into storage and the elimination of intercompany transactions. The details of Questar's consolidated cost of sales are as follows: | ||||||||||||||||||||||||
3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||
September 30, | September 30, | September 30, | ||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||
(in millions) | ||||||||||||||||||||||||
Questar Gas | ||||||||||||||||||||||||
Gas purchases | $ | 0.1 | $ | — | $ | 113.7 | $ | 64.3 | $ | 153.6 | $ | 131.5 | ||||||||||||
Operator service fee | 68.2 | 69.3 | 215.2 | 204.5 | 284.7 | 271.6 | ||||||||||||||||||
Transportation and storage | 18.5 | 19 | 58.6 | 58.5 | 79.7 | 78.6 | ||||||||||||||||||
Gathering | 4.5 | 4.8 | 13.6 | 16 | 18.1 | 22.3 | ||||||||||||||||||
Royalties | 11 | 7 | 32.4 | 23.4 | 41 | 34.3 | ||||||||||||||||||
Storage (injection) withdrawal, net | (37.3 | ) | (29.0 | ) | (18.1 | ) | (18.1 | ) | 1.9 | (8.8 | ) | |||||||||||||
Purchased-gas account adjustment | (15.9 | ) | (27.6 | ) | 5.1 | 4 | 17.2 | 17.1 | ||||||||||||||||
Other | 1 | 1.2 | 3.7 | 3.8 | 4.9 | 5 | ||||||||||||||||||
Total Questar Gas cost of natural gas sold | 50.1 | 44.7 | 424.2 | 356.4 | 601.1 | 551.6 | ||||||||||||||||||
Elimination of Questar Gas cost of natural gas sold - affiliated parties | (85.6 | ) | (87.5 | ) | (269.5 | ) | (259.2 | ) | (358.0 | ) | (344.8 | ) | ||||||||||||
Total Questar Gas cost of natural gas sold - unaffiliated parties | (35.5 | ) | (42.8 | ) | 154.7 | 97.2 | 243.1 | 206.8 | ||||||||||||||||
Questar Pipeline | ||||||||||||||||||||||||
Total Questar Pipeline cost of sales | 0.5 | 0.7 | 2.7 | 1.9 | 7.5 | 2.7 | ||||||||||||||||||
Total cost of sales | $ | (35.0 | ) | $ | (42.1 | ) | $ | 157.4 | $ | 99.1 | $ | 250.6 | $ | 209.5 | ||||||||||
Comprehensive_Income
Comprehensive Income | 9 Months Ended | |||||||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||||||
Statement of Comprehensive Income [Abstract] | ' | |||||||||||||||||||||||||||||||
Comprehensive Income | ' | |||||||||||||||||||||||||||||||
Note 3 - Comprehensive Income | ||||||||||||||||||||||||||||||||
Beginning in 2012, the Company and its subsidiaries adopted accounting guidance issued in June 2011 that resulted in the addition of statements of comprehensive income to the primary financial statements. Beginning in 2013, the Company and its subsidiaries adopted accounting guidance issued in February 2013 that requires additional disclosures about reclassifications from accumulated other comprehensive income into earnings. | ||||||||||||||||||||||||||||||||
Comprehensive income (loss), as reported in Questar's Condensed Consolidated Statements of Comprehensive Income, is the sum of net income (loss) as reported in the Questar Consolidated Statements of Income and other comprehensive income (loss) (OCI). OCI includes recognition of the under-funded position of pension and other postretirement benefit plans, interest rate cash flow hedges, changes in the fair value of long-term investment, and the related income taxes. Income or loss is recognized when the pension or other postretirement benefit (OPRB) costs are accrued, as the Company records interest expense for hedged interest payments and when the long-term investment is sold or otherwise realized. | ||||||||||||||||||||||||||||||||
Details of the changes in the components of consolidated accumulated other comprehensive income (loss) (AOCI), net of income taxes, as reported in Questar's Condensed Consolidated Balance Sheets, are shown in the table below. The table also discloses details of income taxes related to each component of OCI. | ||||||||||||||||||||||||||||||||
Pension and OPRB | Interest rate cash flow hedges | Long-term invest. | Total | Pension and OPRB | Interest rate cash flow hedges | Long-term invest. | Total | |||||||||||||||||||||||||
3 Months Ended | 9 Months Ended | |||||||||||||||||||||||||||||||
September 30, 2013 | September 30, 2013 | |||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||
AOCI at beginning of period | $ | (213.5 | ) | $ | (23.0 | ) | $ | 0.1 | $ | (236.4 | ) | $ | (223.2 | ) | $ | (23.2 | ) | $ | 0.1 | $ | (246.3 | ) | ||||||||||
OCI before reclassifications | — | — | — | — | — | — | (0.1 | ) | (0.1 | ) | ||||||||||||||||||||||
Reclassified from AOCI(1) | 9 | 0.1 | — | 9.1 | 24.7 | 0.4 | — | 25.1 | ||||||||||||||||||||||||
Income taxes | ||||||||||||||||||||||||||||||||
OCI before reclassifications | — | — | — | — | — | — | 0.1 | 0.1 | ||||||||||||||||||||||||
Reclassified from AOCI(2) | (3.4 | ) | — | — | (3.4 | ) | (9.4 | ) | (0.1 | ) | — | (9.5 | ) | |||||||||||||||||||
Total income taxes | (3.4 | ) | — | — | (3.4 | ) | (9.4 | ) | (0.1 | ) | 0.1 | (9.4 | ) | |||||||||||||||||||
Net other comprehensive income | 5.6 | 0.1 | — | 5.7 | 15.3 | 0.3 | — | 15.6 | ||||||||||||||||||||||||
AOCI at September 30, 2013 | $ | (207.9 | ) | $ | (22.9 | ) | $ | 0.1 | $ | (230.7 | ) | $ | (207.9 | ) | $ | (22.9 | ) | $ | 0.1 | $ | (230.7 | ) | ||||||||||
(1) Interest rate cash flow hedge amounts are included in their entirety as charges to interest expense on the Consolidated Statements of Income. | ||||||||||||||||||||||||||||||||
(2) Interest rate cash flow hedge amounts are included in their entirety as credits to income taxes on the Consolidated Statements of Income. | ||||||||||||||||||||||||||||||||
Pension and other postretirement benefits AOCI reclassifications are included in the computation of net periodic pension and postretirement benefit costs. See Note 10 for additional details. | ||||||||||||||||||||||||||||||||
Comprehensive income (loss), as reported in Questar Pipeline's Condensed Consolidated Statements of Comprehensive Income, is the sum of net income (loss) as reported in the Questar Pipeline Consolidated Statements of Income and OCI. OCI includes interest rate cash flow hedges and the related income taxes. Income or loss is recognized as the company records interest expense for hedged interest payments. Disclosures above regarding interest rate cash flow hedges, including income taxes and income statement reclassifications effects, apply to Questar Pipeline. |
Earnings_Per_Share
Earnings Per Share | 9 Months Ended | |||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||||
Earnings Per Share | ' | |||||||||||||||||
Note 4 - Earnings (Loss) Per Share | ||||||||||||||||||
Basic earnings (loss) per share (EPS) is computed by dividing net income (loss) by the weighted-average number of common shares outstanding during the reporting period. Diluted EPS includes the potential increase in the number of outstanding shares that could result from the exercise of in-the-money stock options, the vesting of restricted stock units (RSUs) with forfeitable dividends and the distribution of performance shares that are part of the Company's Long-Term Stock Incentive Plan (LTSIP), less shares repurchased under the treasury stock method. Restricted shares and RSUs with nonforfeitable dividends are participating securities for the computation of basic earnings (loss) per share. The application of the two-class method had an insignificant impact on the calculation of both basic and diluted EPS. A reconciliation of the components of basic and diluted shares used in the EPS calculation follows: | ||||||||||||||||||
3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||
September 30, | September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||
(in millions) | ||||||||||||||||||
Weighted-average basic common shares outstanding | 175.5 | 175.4 | 175.4 | 177 | 175.5 | 177.2 | ||||||||||||
Potential number of shares issuable under the Company's LTSIP | — | 1.1 | 0.7 | 1.1 | 0.6 | 1.1 | ||||||||||||
Weighted-average diluted common shares outstanding | 175.5 | 176.5 | 176.1 | 178.1 | 176.1 | 178.3 | ||||||||||||
There were no potential shares included in the diluted EPS calculation for the third quarter of 2013 because any such shares would be anti-dilutive due to the net loss in the quarter. |
Asset_Retirement_Obligations
Asset Retirement Obligations | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Asset Retirement Obligation [Abstract] | ' | |||||||
Asset Retirement Obligations | ' | |||||||
Note 5 - Asset Retirement Obligations | ||||||||
Questar records an asset retirement obligation (ARO) along with an increase to the carrying value of the related property, plant and equipment when there is a legal obligation associated with the retirement of a tangible long-lived asset. Questar's AROs apply primarily to abandonment costs associated with gas and oil wells, production facilities and certain other properties. The Company has not recorded AROs on a majority of its long-lived transportation and distribution assets because the Company does not have a legal obligation to restore the area surrounding abandoned assets. The fair value of retirement costs is estimated by Company personnel based on abandonment costs of similar properties available to field operations and depreciated over the life of the related assets. Revisions to estimates result from material changes in the expected timing or amount of cash flows associated with AROs. Income or expense resulting from the settlement of ARO liabilities is included in net gain (loss) from asset sales in the Consolidated Statements of Income. The ARO liability is adjusted to present value each period through an accretion calculation using a credit-adjusted risk-free interest rate. Changes in Questar's AROs from the Condensed Consolidated Balance Sheets were as follows: | ||||||||
9 Months Ended | ||||||||
September 30, | ||||||||
2013 | 2012 | |||||||
(in millions) | ||||||||
AROs at beginning of year | $ | 67.2 | $ | 63.8 | ||||
Accretion | 2.4 | 2.3 | ||||||
Liabilities incurred | 4.2 | 2.2 | ||||||
Revisions in estimated cash flows | (6.8 | ) | (1.2 | ) | ||||
Liabilities settled | (1.1 | ) | (0.8 | ) | ||||
AROs at September 30, | $ | 65.9 | $ | 66.3 | ||||
Wexpro collects from Questar Gas and deposits in trust certain funds related to AROs. The funds are recorded as other noncurrent assets and used to satisfy retirement obligations as the properties are abandoned. The accounting treatment of reclamation activities associated with AROs for properties administered under the Wexpro Agreement is defined in a guideline letter between Wexpro and the Utah Division of Public Utilities and the staff of the Wyoming Public Service Commission. |
Fair_Value_Measurements
Fair Value Measurements | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||||
Fair Value Measurements | ' | ||||||||||||||||||||||||
Note 6 - Fair Value Measurements | |||||||||||||||||||||||||
Questar complies with the accounting standards for fair value measurements and disclosures. The standards establish a fair value hierarchy. Level 1 inputs are unadjusted quoted prices for identical assets or liabilities in active markets that the Company has the ability to access at the measurement date. Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable inputs for the asset or liability. The Company had no assets or liabilities measured using Level 3 inputs at September 30, 2013, September 30, 2012 or December 31, 2012. | |||||||||||||||||||||||||
Beginning in 2012, Questar adopted fair value accounting guidance issued in May 2011. The guidance did not result in any changes to the reported amounts of assets or liabilities, but did result in disclosure of the fair value hierarchy levels associated with fair value estimates for financial assets and liabilities not carried at fair value. | |||||||||||||||||||||||||
Questar | |||||||||||||||||||||||||
The following table discloses the carrying amount, estimated fair value and level within the fair value hierarchy of certain financial instruments not disclosed in other notes to Questar's financial statements in this Quarterly Report on Form 10-Q: | |||||||||||||||||||||||||
Hierarchy Level of Fair Value Estimates | Carrying | Estimated | Carrying | Estimated | Carrying | Estimated | |||||||||||||||||||
Amount | Fair Value | Amount | Fair Value | Amount | Fair Value | ||||||||||||||||||||
Sept. 30, 2013 | Sept. 30, 2012 | Dec. 31, 2012 | |||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Financial assets | |||||||||||||||||||||||||
Cash and cash equivalents | 1 | $ | — | $ | — | $ | — | $ | — | $ | 16.8 | $ | 16.8 | ||||||||||||
Long-term investment | 1 | 16.8 | 16.8 | 15 | 15 | 15.5 | 15.5 | ||||||||||||||||||
Financial liabilities | |||||||||||||||||||||||||
Checks outstanding in excess of cash balances | 1 | 1.6 | 1.6 | 5.4 | 5.4 | — | — | ||||||||||||||||||
Short-term debt | 1 | 355 | 355 | 263 | 263 | 263 | 263 | ||||||||||||||||||
Long-term debt, including current portion | 2 | 1,097.50 | 1,191.10 | 1,057.90 | 1,237.50 | 1,140.90 | 1,303.10 | ||||||||||||||||||
The carrying amounts of cash and cash equivalents, checks outstanding in excess of cash balances and short-term debt approximate fair value. The long-term investment is recorded at fair value and consists of money market and short-term bond index mutual funds held in Wexpro's trust (see Note 5). The fair value of the long-term investment is based on quoted prices for the underlying funds. The fair value of fixed-rate long-term debt is based on the discounted present value of cash flows using the Company's current credit risk-adjusted borrowing rates. | |||||||||||||||||||||||||
Questar Gas | |||||||||||||||||||||||||
The following table discloses the carrying amount, estimated fair value and level within the fair value hierarchy of certain financial instruments not disclosed in other notes to Questar Gas's financial statements in this Quarterly Report on Form 10-Q: | |||||||||||||||||||||||||
Hierarchy Level of Fair Value Estimates | Carrying | Estimated | Carrying | Estimated | Carrying | Estimated | |||||||||||||||||||
Amount | Fair Value | Amount | Fair Value | Amount | Fair Value | ||||||||||||||||||||
Sept. 30, 2013 | Sept. 30, 2012 | Dec. 31, 2012 | |||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Financial assets | |||||||||||||||||||||||||
Cash and cash equivalents | 1 | $ | — | $ | — | $ | — | $ | — | $ | 1.4 | $ | 1.4 | ||||||||||||
Financial liabilities | |||||||||||||||||||||||||
Checks outstanding in excess of cash balances | 1 | 1.4 | 1.4 | 2 | 2 | — | — | ||||||||||||||||||
Notes payable to Questar | 1 | 195 | 195 | 206.6 | 206.6 | 166.1 | 166.1 | ||||||||||||||||||
Long-term debt, including current portion | 2 | 384.5 | 425.6 | 343 | 426.3 | 426.5 | 503.7 | ||||||||||||||||||
The carrying amounts of cash and cash equivalents and checks outstanding in excess of cash balances approximate fair value. The carrying amounts of notes payable to Questar approximate fair value because of their short maturities and variable market-based interest rates. The fair value of fixed-rate long-term debt is based on the discounted present value of cash flows using Questar Gas's current credit risk-adjusted borrowing rates. | |||||||||||||||||||||||||
Questar Pipeline | |||||||||||||||||||||||||
The following table discloses the carrying amount, estimated fair value and level within the fair value hierarchy of certain financial instruments not disclosed in other notes to Questar Pipeline's financial statements in this Quarterly Report on Form 10-Q: | |||||||||||||||||||||||||
Hierarchy Level of Fair Value Estimates | Carrying | Estimated | Carrying | Estimated | Carrying | Estimated | |||||||||||||||||||
Amount | Fair Value | Amount | Fair Value | Amount | Fair Value | ||||||||||||||||||||
Sept. 30, 2013 | Sept. 30, 2012 | Dec. 31, 2012 | |||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Financial assets | |||||||||||||||||||||||||
Cash and cash equivalents | 1 | $ | 1.5 | $ | 1.5 | $ | 0.4 | $ | 0.4 | $ | 7.1 | $ | 7.1 | ||||||||||||
Notes receivable from Questar | 1 | 36.6 | 36.6 | 42 | 42 | 38.7 | 38.7 | ||||||||||||||||||
Financial liabilities | |||||||||||||||||||||||||
Long-term debt | 2 | 458.8 | 505.5 | 458.9 | 547.8 | 458.9 | 536.6 | ||||||||||||||||||
The carrying amounts of cash and cash equivalents approximate fair value. The carrying amounts of notes receivable from Questar approximate fair value because of their short maturities and variable market-based interest rates. The fair value of fixed-rate long-term debt is based on the discounted present value of cash flows using Questar Pipeline's current credit risk-adjusted borrowing rates. | |||||||||||||||||||||||||
The Questar and Questar Pipeline Condensed Consolidated Balance Sheets include a nonrecurring fair value measurement at September 30, 2013 related to the impairment of the eastern segment of Questar Southern Trails Pipeline. The asset's fair value of zero is based on inputs that indicate overall negative future net cash flows. Questar used a probability-weighted discounted cash flow analysis that included significant inputs including Questar's cost of capital and assumptions regarding future transportation rates and operating costs. This is a Level 3 fair value measurement because the inputs are unobservable. Based on this analysis, Questar determined that the asset was impaired. See Note 12 for additional information. |
Derivative_Instruments_and_Hed
Derivative Instruments and Hedging Activities | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Derivative Instruments and Hedging Activities | ' | ||||||||||||||||||||||||
Note 7 - Derivative Instruments and Hedging Activities | |||||||||||||||||||||||||
Questar and its subsidiaries may enter into derivative instruments to manage exposure to changes in current and future market interest rates. In order to mitigate its exposure to changes in the fair value of its fixed-rate corporate debt resulting from changes in benchmark interest rates, in the second quarter of 2011 Questar executed a fixed-to-floating interest rate swap transaction with a counterparty and converted $125.0 million of its 2.75% fixed-rate long-term debt to floating-rate debt. The 2.75% rate was swapped for a London Interbank Offered Rate (LIBOR)-based floating rate. Questar terminated and settled this hedge transaction in March 2012, for a deferred gain of $7.2 million, which is being amortized to interest expense through the maturity of the notes in 2016. Prior to its termination, this swap was accounted for as a fair value hedge under the accounting standards for derivatives and hedging. | |||||||||||||||||||||||||
Questar Pipeline entered into forward starting swaps totaling $150.0 million in the second and third quarters of 2011 in anticipation of issuing $180.0 million of notes in December 2011. Settlement of these swaps required payments of $37.3 million in the fourth quarter of 2011 because of declines in interest rates. These swaps qualified as cash flow hedges and the settlement payments are being amortized to interest expense over the 30-year life of the debt. The swaps were also treated as qualifying hedging transactions for income tax purposes. | |||||||||||||||||||||||||
The following table presents the pre-tax effects of the derivative instruments designated as a fair value hedge (including the hedged item) and cash flow hedges on the Consolidated Statements of Income as well as the pre-tax effects of the derivative instruments designated as cash flow hedges on OCI: | |||||||||||||||||||||||||
3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||||
Financial Statement Location of Gain (Loss) | September 30, | September 30, | September 30, | ||||||||||||||||||||||
Instrument and Activity | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Fair Value Hedge | |||||||||||||||||||||||||
Questar Corporation | |||||||||||||||||||||||||
Interest rate derivative instrument | |||||||||||||||||||||||||
Realized gain | Interest expense | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 0.7 | ||||||||||||
2.75% Notes due 2016 | |||||||||||||||||||||||||
Unrealized loss | Interest expense | — | — | — | — | — | (0.7 | ) | |||||||||||||||||
Cash Flow Hedges | |||||||||||||||||||||||||
Questar Pipeline | |||||||||||||||||||||||||
Interest rate derivative instruments | |||||||||||||||||||||||||
Deferrals of effective portions | OCI | — | — | — | — | — | (1.1 | ) | |||||||||||||||||
Losses reclassified from AOCI into earnings for effective portions | Interest expense | (0.1 | ) | (0.2 | ) | (0.4 | ) | (0.4 | ) | (0.4 | ) | (0.5 | ) | ||||||||||||
There was no ineffectiveness recognized on the fair value hedge for the three, nine and 12 months ended September 30, 2013 and 2012. There was no ineffectiveness recognized on the cash flow hedges for the three and nine months ended September 30, 2013 and 2012 and the 12 months ended September 30, 2013. Ineffectiveness recognized on the cash flow hedges was de minimis in the 12 months ended September 30, 2012. Reclassifications into earnings of amounts reported in AOCI will continue while interest expense is recorded for the hedged interest payments through maturity in 2041. Pre-tax net losses of $0.5 million are expected to be reclassified from AOCI to the Consolidated Statements of Income in the next 12 months. As of September 30, 2013, the Company was not hedging any exposure to variability in future cash flows of forecasted transactions. There were no derivative assets or liabilities outstanding at September 30, 2013, September 30, 2012 or December 31, 2012. |
ShareBased_Compensation
Share-Based Compensation | 9 Months Ended | ||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||
Share-based Compensation [Abstract] | ' | ||||||||||||||||||||||
Share-Based Compensation | ' | ||||||||||||||||||||||
Note 8 - Share-Based Compensation | |||||||||||||||||||||||
Questar may issue stock options, restricted shares, RSUs and performance shares to certain officers, employees and non-employee directors under its LTSIP. Questar recognizes expense over time as the stock options, restricted shares, RSUs and performance shares vest. Total share-based compensation expense amounted to $7.7 million for the first nine months of 2013 compared to $7.5 million in 2012. Deferred share-based compensation, representing the unvested value of restricted share and RSU awards, amounted to $6.5 million at September 30, 2013. For the first nine months, cash flow from income tax benefits in excess of recognized compensation expense amounted to $1.5 million in 2013 compared to $8.1 million in 2012. There were 5,577,106 shares available for future grants at September 30, 2013. | |||||||||||||||||||||||
Unvested stock options decreased by 29,398 shares to zero shares in the first nine months of 2013. No stock options were granted in the first nine months of 2013. Stock option transactions under the terms of the LTSIP are summarized below: | |||||||||||||||||||||||
Options | Exercise | Weighted-Average Exercise Price | |||||||||||||||||||||
Outstanding | Price Range | ||||||||||||||||||||||
Balance at December 31, 2012 | 770,923 | $ | 4.37 | - | $ | 17.35 | $ | 11.35 | |||||||||||||||
Exercised | (53,083 | ) | 4.37 | - | 13.1 | 4.75 | |||||||||||||||||
Balance at September 30, 2013 | 717,840 | $ | 7.84 | - | $ | 17.35 | $ | 11.84 | |||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||||||||
Range of exercise | Number outstanding at Sept. 30, 2013 | Weighted-average remaining term in years | Weighted-average exercise price | Number exercisable at Sept. 30, 2013 | Weighted-average exercise price | ||||||||||||||||||
prices | |||||||||||||||||||||||
$ | 7.84 | - | $ | 11.4 | 404,174 | 2.1 | $ | 10.52 | 404,174 | $ | 10.52 | ||||||||||||
13.1 | - | 17.35 | 313,666 | 2.8 | 13.54 | 313,666 | 13.54 | ||||||||||||||||
717,840 | 2.4 | $ | 11.84 | 717,840 | $ | 11.84 | |||||||||||||||||
Restricted share grants typically vest in equal installments over a three- or four-year period from the grant date. Several grants vest in a single installment after a specified period. The weighted-average remaining vesting period of unvested restricted shares at September 30, 2013, was 11 months. Transactions involving restricted shares under the terms of the LTSIP are summarized below: | |||||||||||||||||||||||
Restricted | Price Range | Weighted-Average Price | |||||||||||||||||||||
Shares | |||||||||||||||||||||||
Outstanding | |||||||||||||||||||||||
Balance at December 31, 2012 | 810,342 | $ | 13.1 | - | $ | 20.9 | $ | 17.74 | |||||||||||||||
Granted | 658 | 21.53 | 21.53 | 21.53 | |||||||||||||||||||
Vested | (417,882 | ) | 13.1 | - | 20.9 | 17.24 | |||||||||||||||||
Balance at September 30, 2013 | 393,118 | $ | 13.1 | - | $ | 21.53 | $ | 18.29 | |||||||||||||||
Starting in the first quarter of 2013, Questar granted RSUs to certain officers, employees and non-employee directors under its LTSIP. One share of Questar common stock will be distributed for each RSU at the time of vesting. RSU grants typically vest in equal installments over a three-year period from the grant date. Several grants vest in a single installment after a specified period. The weighted-average remaining vesting period of unvested RSUs at September 30, 2013, was 17 months. | |||||||||||||||||||||||
Transactions involving RSUs under the terms of the LTSIP are summarized below: | |||||||||||||||||||||||
RSUs | Price Range | Weighted-Average Price | |||||||||||||||||||||
Outstanding | |||||||||||||||||||||||
Granted | 326,797 | $ | 22.17 | - | $ | 25.44 | $ | 23.63 | |||||||||||||||
Vested | (12,522 | ) | 23.62 | 23.62 | 23.62 | ||||||||||||||||||
Balance at September 30, 2013 | 314,275 | $ | 22.17 | - | $ | 25.44 | $ | 23.63 | |||||||||||||||
Grants of RSUs with deferred share distributions (deferred RSUs) typically vest in equal installments over a three-year period from the grant date. At September 30, 2013, Questar's outstanding deferred RSUs totaled 73,071 with a weighted-average price of $15.67 per share. The deferred RSUs were fully vested as of July 1, 2013. One share of Questar common stock will be distributed for each vested deferred RSU (including accrued reinvested dividend equivalents) at the time of the grantee's separation from service. | |||||||||||||||||||||||
Questar grants performance shares to certain Company executive officers under the terms of the LTSIP. The awards are designed to motivate and reward these executives for long-term Company performance and provide an incentive for them to remain with the Company. The target number of performance shares for each executive officer is subject to adjustment upward or downward based on the Company's total shareholder return relative to a specified peer group of companies over a three-year performance period. Each three-year performance period commences at the beginning of the year of grant. Distributions of performance shares, if any, take place in the quarter following the conclusion of the performance period so long as such executive officer was employed by the Company or its affiliates as of the last day of the performance period. | |||||||||||||||||||||||
Half of any award will be distributed in shares of Questar common stock and half in cash. The Monte Carlo simulation method was used to estimate the grant-date fair value of the performance share awards. The liability associated with awards to be settled in cash is adjusted to its estimated fair value through earnings on a quarterly basis. Equity- and liability-based performance share compensation expense amounted to $1.2 million in the first nine months of 2013 and $1.4 million in the first nine months of 2012. The weighted-average remaining vesting period of unvested performance shares at September 30, 2013, was 15 months. | |||||||||||||||||||||||
Performance share transactions under the terms of the LTSIP are summarized below: | |||||||||||||||||||||||
Target Number of Performance Shares Outstanding | Grant-Date | Weighted- Average Grant-Date Fair Value | |||||||||||||||||||||
Fair Value Range | |||||||||||||||||||||||
Balance at December 31, 2012 | 264,867 | $ | 18.23 | - | $ | 25.42 | $ | 21.94 | |||||||||||||||
Granted | 126,606 | 39.62 | 39.62 | 39.62 | |||||||||||||||||||
Forfeited | (3,594 | ) | 18.23 | - | 39.62 | 33.09 | |||||||||||||||||
Balance at September 30, 2013 | 387,879 | $ | 18.23 | - | $ | 39.62 | $ | 27.61 | |||||||||||||||
The above September 30, 2013 balance includes 5,330 vested target performance shares with a weighted-average grant-date fair value of $23.39 and expected distribution dates ranging from the first quarter of 2014 through the first quarter of 2016. |
Operations_by_Line_of_Business
Operations by Line of Business | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||||||
Operations by line of business | ' | |||||||||||||||||||||||
Note 9 - Operations by Line of Business | ||||||||||||||||||||||||
Questar's three principal complementary lines of business include Questar Gas, which provides retail natural gas distribution in Utah, Wyoming and Idaho; Wexpro, which develops and produces natural gas from cost-of-service reserves for Questar Gas customers; and Questar Pipeline, which operates interstate natural gas pipelines and storage facilities. Line-of-business information is presented according to senior management's basis for evaluating performance and considering differences in the nature of products, services and regulation, among other factors. Following is a summary of operations by line of business: | ||||||||||||||||||||||||
3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||
September 30, | September 30, | September 30, | ||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||
(in millions) | ||||||||||||||||||||||||
Revenues from Unaffiliated Customers | ||||||||||||||||||||||||
Questar Gas | $ | 89.4 | $ | 82.5 | $ | 647.8 | $ | 578.7 | $ | 928.8 | $ | 876.5 | ||||||||||||
Wexpro | 13.2 | 9.8 | 32 | 27.1 | 41 | 35.5 | ||||||||||||||||||
Questar Pipeline | 47 | 49.5 | 142.3 | 150.1 | 195.3 | 198.7 | ||||||||||||||||||
Total | $ | 149.6 | $ | 141.8 | $ | 822.1 | $ | 755.9 | $ | 1,165.10 | $ | 1,110.70 | ||||||||||||
Revenues from Affiliated Companies | ||||||||||||||||||||||||
Questar Gas | $ | 0.2 | $ | 0.5 | $ | 0.6 | $ | 2.3 | $ | 0.8 | $ | 3.4 | ||||||||||||
Wexpro | 68.1 | 69.3 | 215.2 | 204.6 | 284.7 | 271.8 | ||||||||||||||||||
Questar Pipeline | 17.6 | 18.4 | 54.8 | 55.2 | 74 | 73.8 | ||||||||||||||||||
Total | $ | 85.9 | $ | 88.2 | $ | 270.6 | $ | 262.1 | $ | 359.5 | $ | 349 | ||||||||||||
Operating Income (Loss) | ||||||||||||||||||||||||
Questar Gas | $ | (11.2 | ) | $ | (10.7 | ) | $ | 55.3 | $ | 52.6 | $ | 95.6 | $ | 90.1 | ||||||||||
Wexpro | 40.7 | 41 | 121.9 | 117.9 | 162.1 | 155.3 | ||||||||||||||||||
Questar Pipeline | (52.6 | ) | 32.6 | 5.7 | 95.2 | 34.5 | 126.2 | |||||||||||||||||
Corporate and other | 3.7 | 0.7 | 0.3 | 1.4 | (0.4 | ) | 2.1 | |||||||||||||||||
Total | $ | (19.4 | ) | $ | 63.6 | $ | 183.2 | $ | 267.1 | $ | 291.8 | $ | 373.7 | |||||||||||
Net Income (Loss) | ||||||||||||||||||||||||
Questar Gas | $ | (9.0 | ) | $ | (9.3 | ) | $ | 26.8 | $ | 23.3 | $ | 50.6 | $ | 43.5 | ||||||||||
Wexpro | 27.5 | 26.4 | 82.2 | 76.5 | 109.6 | 100.1 | ||||||||||||||||||
Questar Pipeline | (37.9 | ) | 17.1 | (7.6 | ) | 49.8 | 7.3 | 67 | ||||||||||||||||
Corporate and other | 0.2 | (0.4 | ) | (8.3 | ) | (1.4 | ) | (10.6 | ) | (0.8 | ) | |||||||||||||
Total | $ | (19.2 | ) | $ | 33.8 | $ | 93.1 | $ | 148.2 | $ | 156.9 | $ | 209.8 | |||||||||||
Employee_Benefits
Employee Benefits | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | |||||||||||||||||||||||
Employee benefits | ' | |||||||||||||||||||||||
Note 10 - Employee Benefits | ||||||||||||||||||||||||
The Company has a noncontributory defined benefit pension plan covering a majority of its employees and postretirement medical and life insurance plans providing coverage to less than half of its employees. Employees hired or rehired after June 30, 2010 are not eligible for the noncontributory defined benefit pension plan and employees hired or rehired after December 31, 1996, are not eligible for the postretirement medical plan and are not eligible to receive basic life insurance once they retire. | ||||||||||||||||||||||||
Questar is subject to and complies with minimum-required and maximum-allowed annual contribution levels for its qualified pension plan as determined by the Employee Retirement Income Security Act and the Internal Revenue Code. The 2013 estimated net cost for the qualified pension plan is $32.0 million. | ||||||||||||||||||||||||
The Company also has a nonqualified pension plan that covers a group of management employees in addition to the noncontributory qualified pension plan. The nonqualified pension plan provides for defined benefit payments upon retirement of the management employee, or to the spouse upon death of the management employee, above the benefit limit defined by the Internal Revenue Service for the qualified plan. The nonqualified pension plan is unfunded; claims are paid from the Company's general funds. The 2013 estimated net cost for the nonqualified pension plan is $4.3 million. Components of the qualified and nonqualified net pension cost included in the determination of net income (loss) are listed in the table below: | ||||||||||||||||||||||||
3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||
September 30, | September 30, | September 30, | ||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||
(in millions) | ||||||||||||||||||||||||
Service cost | $ | 3.2 | $ | 3.2 | $ | 10 | $ | 9.7 | $ | 13.5 | $ | 12.4 | ||||||||||||
Interest cost | 7.6 | 7.8 | 23.4 | 23.3 | 31.2 | 30.5 | ||||||||||||||||||
Expected return on plan assets | (9.5 | ) | (8.0 | ) | (28.6 | ) | (23.7 | ) | (36.7 | ) | (30.8 | ) | ||||||||||||
Prior service and other costs | 0.2 | 0.4 | 0.8 | 1.1 | 0.8 | 2.1 | ||||||||||||||||||
Recognized net actuarial loss | 8 | 5.4 | 21.7 | 16.2 | 30.4 | 20.5 | ||||||||||||||||||
Net pension cost | $ | 9.5 | $ | 8.8 | $ | 27.3 | $ | 26.6 | $ | 39.2 | $ | 34.7 | ||||||||||||
The Company currently estimates a $5.0 million net cost for postretirement benefits other than pensions in 2013 before accretion of a regulatory liability. Net postretirement benefit cost components are listed in the table below: | ||||||||||||||||||||||||
3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||
September 30, | September 30, | September 30, | ||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||
(in millions) | ||||||||||||||||||||||||
Service cost | $ | 0.2 | $ | 0.2 | $ | 0.6 | $ | 0.5 | $ | 0.8 | $ | 0.5 | ||||||||||||
Interest cost | 0.9 | 1 | 2.8 | 2.8 | 3.8 | 3.7 | ||||||||||||||||||
Expected return on plan assets | (0.6 | ) | (0.6 | ) | (1.9 | ) | (1.7 | ) | (2.5 | ) | (2.3 | ) | ||||||||||||
Amortization of transition obligation | — | 0.4 | — | 1.2 | 0.4 | 1.8 | ||||||||||||||||||
Recognized net actuarial loss | 0.8 | 0.5 | 2.2 | 1.6 | 3.1 | 1.4 | ||||||||||||||||||
Accretion of regulatory liability | 0.1 | 0.1 | 0.5 | 0.5 | 0.3 | 0.6 | ||||||||||||||||||
Net postretirement benefit cost | $ | 1.4 | $ | 1.6 | $ | 4.2 | $ | 4.9 | $ | 5.9 | $ | 5.7 | ||||||||||||
Debt
Debt | 9 Months Ended |
Sep. 30, 2013 | |
Debt Disclosure [Abstract] | ' |
Debt | ' |
Note 11 - Debt | |
The Company has a revolving credit facility with various lenders to provide back-up credit liquidity support for its commercial paper program. Credit commitments under this revolving credit facility totaled $750.0 million at September 30, 2013, with no amounts borrowed. This revolving credit facility has interest-rate options generally below the prime interest rate and carries commitment fees on the unused balance. In April 2013, Questar amended and restated its revolving credit facility to increase its size from $500.0 million to $750.0 million and extend its maturity from August 31, 2016 to April 19, 2018. Under the facility, consolidated funded debt cannot exceed 70% of consolidated capitalization. Commercial paper outstanding amounted to $355.0 million at September 30, 2013, $263.0 million at September 30, 2012 and $263.0 million at December 31, 2012. | |
During the third quarter of 2013, Questar Gas entered into a commitment to borrow $150 million of long-term debt in the private placement market to be funded in December 2013. Questar Gas will issue $90 million of 30-year notes with an interest rate of 4.78% and $60 million of 35-year notes with an interest rate of 4.83%. Proceeds from the debt issuance will be used to repay existing indebtedness and for general corporate purposes. | |
Except for the amendment and restatement to the Company's revolving credit facility and the Questar Gas borrowing commitment, there have not been any significant new borrowings or modifications of existing financing arrangements at Questar, Questar Gas or Questar Pipeline since December 31, 2012. |
Strategic_Review_of_Questar_So
Strategic Review of Questar Southern Trails Pipeline and Impairment of Eastern Segment | 9 Months Ended |
Sep. 30, 2013 | |
Strategic Review of Questar Southern Trails Pipeline and Impairment of Eastern Segment [Abstract] | ' |
Strategic Review of Questar Southern Trails Pipeline and Impairment of Eastern Segment | ' |
Note 12 - Strategic Review of Questar Southern Trails Pipeline and Impairment of Eastern Segment | |
In the fourth quarter of 2012, Questar Pipeline initiated a strategic review of the noncore Questar Southern Trails Pipeline. All strategic options were analyzed, including joint ventures, asset sales or other alternatives. The western segment of Southern Trails Pipeline runs 96 miles from Whitewater to Long Beach, California. This segment has not been placed in service. The eastern segment of Southern Trails Pipeline runs 487 miles from the San Juan Basin in New Mexico to connections with other pipelines in the eastern portion of southern California. | |
As a result of that review, Questar Pipeline entered into an agreement with another pipeline company to evaluate and potentially recommission the western portion of its Southern Trails Pipeline to its original purpose as a crude oil transport pipeline and to develop a rail terminal to offload crude from railcars and into the pipeline for transportation to refineries in Long Beach, California. Questar Pipeline's net book value of the western segment of Southern Trails Pipeline is approximately $21 million. This project is in the marketing phase and a decision whether or not to proceed with the development is expected in 2014. | |
Questar has been in discussions with a third party developer to either purchase the eastern segment of Southern Trails Pipeline or enter into a long-term transportation contract for the full capacity of the pipeline. The expected progress with this party to reach a definitive agreement was not achieved during the third quarter of 2013. In addition during the third quarter, Questar updated its five-year forecast for Southern Trails Pipeline, which resulted in revised projections of higher operating expenses including right-of-way and pipeline safety costs. Current and projected market rates for natural gas transportation between the San Juan Basin and California markets do not cover these increasing operating expenses. Due to the developments in the third quarter of 2013, Questar Pipeline recorded a noncash impairment of its entire investment in the eastern segment of Southern Trails Pipeline of $80.6 million, or $52.4 million after income taxes. Questar used a probability-weighted discounted cash flow analysis that included significant inputs including Questar's cost of capital and assumptions regarding future transportation rates and operating costs. |
Wexpro_Acquisition_of_Producin
Wexpro Acquisition of Producing Properties | 9 Months Ended | |||
Sep. 30, 2013 | ||||
Wexpro Acquisition of Producing Properties [Abstract] | ' | |||
Wexpro Acquisition of Producing Properties | ' | |||
Note 13 - Wexpro Acquisition of Producing Properties | ||||
On September 4, 2013, Wexpro completed the transaction announced in July 2013 to acquire an additional interest in natural gas-producing properties in the Trail Unit of southwestern Wyoming's Vermillion Basin for $106.7 million (Trail acquisition). This is a “bolt-on” acquisition to the company’s current Trail assets, which are governed by the 1981 Wexpro Agreement. The Company is in the process of submitting these properties to the public service commissions of Utah and Wyoming for inclusion as cost-of-service properties under the Wexpro II Agreement. | ||||
Because it contains proved properties, the Trail acquisition is accounted for using the accounting guidance for business combinations. Summary information related to the Trail acquisition is shown in the table below. Amounts are provisional and are subject to post-closing adjustments. | ||||
(in millions) | ||||
Fair value of consideration transferred: | ||||
Cash paid at closing | $ | 106.7 | ||
Recognized amounts of identifiable assets acquired and liabilities assumed, at fair value: | ||||
Proved properties | $ | 108.8 | ||
Asset retirement obligations | (2.1 | ) | ||
Total fair value of identifiable net assets acquired | $ | 106.7 | ||
Revenues of $1.5 million and net income of $0.3 million attributable to the Trail acquisition are included in Questar's Condensed Consolidated Statements of Income for the period between the September 4, 2013 closing date and September 30, 2013. Trail acquisition-related transaction costs of $0.2 million for the first nine months of 2013 are included in general and administrative expense on Questar's Condensed Consolidated Statement of Income. Supplemental pro forma income information related to the Trail acquisition is not presented because it is immaterial to Questar's consolidated revenues, expenses and income in all periods presented. |
Basis_of_Presentation_of_Inter1
Basis of Presentation of Interim Financial Statements (Policies) | 9 Months Ended | |
Sep. 30, 2013 | ||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |
Nature of Business | ' | |
Questar Corporation is a Rockies-based integrated natural gas company with three principal complementary and wholly-owned lines of business: | ||
• | Questar Gas Company (Questar Gas) provides retail natural gas distribution in Utah, Wyoming and Idaho. | |
• | Wexpro Company (Wexpro) develops and produces natural gas from cost-of-service reserves for Questar Gas customers. | |
• | Questar Pipeline Company (Questar Pipeline) operates interstate natural gas pipelines and storage facilities in the western United States and provides other energy services. | |
Questar is headquartered in Salt Lake City, Utah. Shares of Questar common stock trade on the New York Stock Exchange (NYSE:STR). | ||
Comprehensive Income - Questar | ' | |
Comprehensive income (loss), as reported in Questar's Condensed Consolidated Statements of Comprehensive Income, is the sum of net income (loss) as reported in the Questar Consolidated Statements of Income and other comprehensive income (loss) (OCI). OCI includes recognition of the under-funded position of pension and other postretirement benefit plans, interest rate cash flow hedges, changes in the fair value of long-term investment, and the related income taxes. Income or loss is recognized when the pension or other postretirement benefit (OPRB) costs are accrued, as the Company records interest expense for hedged interest payments and when the long-term investment is sold or otherwise realized. | ||
Comprehensive Income - Questar Pipeline | ' | |
Comprehensive income (loss), as reported in Questar Pipeline's Condensed Consolidated Statements of Comprehensive Income, is the sum of net income (loss) as reported in the Questar Pipeline Consolidated Statements of Income and OCI. OCI includes interest rate cash flow hedges and the related income taxes. Income or loss is recognized as the company records interest expense for hedged interest payments. | ||
Investment in Unconsolidated Affiliate | ' | |
Questar uses the equity method to account for its investment in an unconsolidated affiliate where it does not have control, but has significant influence. White River Hub, LLC is a limited liability company and FERC-regulated transporter of natural gas. Questar Pipeline owns 50% of White River Hub, LLC and is the operator. Generally, the investment in White River Hub, LLC on the Company's balance sheets equals the Company's proportionate share of equity reported by White River Hub, LLC. The investment is assessed for possible impairment when events indicate that the fair value of the investment may be below the Company's carrying value. When such a condition is deemed to be other-than-temporary, the carrying value of the investment is written down to its fair value, and the amount of the write-down is included in the determination of net income. | ||
Earnings Per Share | ' | |
Basic earnings (loss) per share (EPS) is computed by dividing net income (loss) by the weighted-average number of common shares outstanding during the reporting period. Diluted EPS includes the potential increase in the number of outstanding shares that could result from the exercise of in-the-money stock options, the vesting of restricted stock units (RSUs) with forfeitable dividends and the distribution of performance shares that are part of the Company's Long-Term Stock Incentive Plan (LTSIP), less shares repurchased under the treasury stock method. Restricted shares and RSUs with nonforfeitable dividends are participating securities for the computation of basic earnings (loss) per share. The application of the two-class method had an insignificant impact on the calculation of both basic and diluted EPS. | ||
Asset Retirement Obligations | ' | |
Questar records an asset retirement obligation (ARO) along with an increase to the carrying value of the related property, plant and equipment when there is a legal obligation associated with the retirement of a tangible long-lived asset. Questar's AROs apply primarily to abandonment costs associated with gas and oil wells, production facilities and certain other properties. The Company has not recorded AROs on a majority of its long-lived transportation and distribution assets because the Company does not have a legal obligation to restore the area surrounding abandoned assets. The fair value of retirement costs is estimated by Company personnel based on abandonment costs of similar properties available to field operations and depreciated over the life of the related assets. Revisions to estimates result from material changes in the expected timing or amount of cash flows associated with AROs. Income or expense resulting from the settlement of ARO liabilities is included in net gain (loss) from asset sales in the Consolidated Statements of Income. The ARO liability is adjusted to present value each period through an accretion calculation using a credit-adjusted risk-free interest rate. | ||
Business Segments | ' | |
Line-of-business information is presented according to senior management's basis for evaluating performance and considering differences in the nature of products, services and regulation, among other factors. |
Basis_of_Presentation_of_Inter2
Basis of Presentation of Interim Financial Statements (Tables) | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |||||||||||||||||||||||
Cost of sales detail | ' | |||||||||||||||||||||||
The details of Questar's consolidated cost of sales are as follows: | ||||||||||||||||||||||||
3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||
September 30, | September 30, | September 30, | ||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||
(in millions) | ||||||||||||||||||||||||
Questar Gas | ||||||||||||||||||||||||
Gas purchases | $ | 0.1 | $ | — | $ | 113.7 | $ | 64.3 | $ | 153.6 | $ | 131.5 | ||||||||||||
Operator service fee | 68.2 | 69.3 | 215.2 | 204.5 | 284.7 | 271.6 | ||||||||||||||||||
Transportation and storage | 18.5 | 19 | 58.6 | 58.5 | 79.7 | 78.6 | ||||||||||||||||||
Gathering | 4.5 | 4.8 | 13.6 | 16 | 18.1 | 22.3 | ||||||||||||||||||
Royalties | 11 | 7 | 32.4 | 23.4 | 41 | 34.3 | ||||||||||||||||||
Storage (injection) withdrawal, net | (37.3 | ) | (29.0 | ) | (18.1 | ) | (18.1 | ) | 1.9 | (8.8 | ) | |||||||||||||
Purchased-gas account adjustment | (15.9 | ) | (27.6 | ) | 5.1 | 4 | 17.2 | 17.1 | ||||||||||||||||
Other | 1 | 1.2 | 3.7 | 3.8 | 4.9 | 5 | ||||||||||||||||||
Total Questar Gas cost of natural gas sold | 50.1 | 44.7 | 424.2 | 356.4 | 601.1 | 551.6 | ||||||||||||||||||
Elimination of Questar Gas cost of natural gas sold - affiliated parties | (85.6 | ) | (87.5 | ) | (269.5 | ) | (259.2 | ) | (358.0 | ) | (344.8 | ) | ||||||||||||
Total Questar Gas cost of natural gas sold - unaffiliated parties | (35.5 | ) | (42.8 | ) | 154.7 | 97.2 | 243.1 | 206.8 | ||||||||||||||||
Questar Pipeline | ||||||||||||||||||||||||
Total Questar Pipeline cost of sales | 0.5 | 0.7 | 2.7 | 1.9 | 7.5 | 2.7 | ||||||||||||||||||
Total cost of sales | $ | (35.0 | ) | $ | (42.1 | ) | $ | 157.4 | $ | 99.1 | $ | 250.6 | $ | 209.5 | ||||||||||
Comprehensive_Income_Tables
Comprehensive Income (Tables) | 9 Months Ended | |||||||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) | ' | |||||||||||||||||||||||||||||||
Details of the changes in the components of consolidated accumulated other comprehensive income (loss) (AOCI), net of income taxes, as reported in Questar's Condensed Consolidated Balance Sheets, are shown in the table below. The table also discloses details of income taxes related to each component of OCI. | ||||||||||||||||||||||||||||||||
Pension and OPRB | Interest rate cash flow hedges | Long-term invest. | Total | Pension and OPRB | Interest rate cash flow hedges | Long-term invest. | Total | |||||||||||||||||||||||||
3 Months Ended | 9 Months Ended | |||||||||||||||||||||||||||||||
September 30, 2013 | September 30, 2013 | |||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||
AOCI at beginning of period | $ | (213.5 | ) | $ | (23.0 | ) | $ | 0.1 | $ | (236.4 | ) | $ | (223.2 | ) | $ | (23.2 | ) | $ | 0.1 | $ | (246.3 | ) | ||||||||||
OCI before reclassifications | — | — | — | — | — | — | (0.1 | ) | (0.1 | ) | ||||||||||||||||||||||
Reclassified from AOCI(1) | 9 | 0.1 | — | 9.1 | 24.7 | 0.4 | — | 25.1 | ||||||||||||||||||||||||
Income taxes | ||||||||||||||||||||||||||||||||
OCI before reclassifications | — | — | — | — | — | — | 0.1 | 0.1 | ||||||||||||||||||||||||
Reclassified from AOCI(2) | (3.4 | ) | — | — | (3.4 | ) | (9.4 | ) | (0.1 | ) | — | (9.5 | ) | |||||||||||||||||||
Total income taxes | (3.4 | ) | — | — | (3.4 | ) | (9.4 | ) | (0.1 | ) | 0.1 | (9.4 | ) | |||||||||||||||||||
Net other comprehensive income | 5.6 | 0.1 | — | 5.7 | 15.3 | 0.3 | — | 15.6 | ||||||||||||||||||||||||
AOCI at September 30, 2013 | $ | (207.9 | ) | $ | (22.9 | ) | $ | 0.1 | $ | (230.7 | ) | $ | (207.9 | ) | $ | (22.9 | ) | $ | 0.1 | $ | (230.7 | ) | ||||||||||
(1) Interest rate cash flow hedge amounts are included in their entirety as charges to interest expense on the Consolidated Statements of Income. | ||||||||||||||||||||||||||||||||
(2) Interest rate cash flow hedge amounts are included in their entirety as credits to income taxes on the Consolidated Statements of Income. |
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 9 Months Ended | |||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||||
Schedule of Weighted Average Number of Shares | ' | |||||||||||||||||
A reconciliation of the components of basic and diluted shares used in the EPS calculation follows: | ||||||||||||||||||
3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||
September 30, | September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||
(in millions) | ||||||||||||||||||
Weighted-average basic common shares outstanding | 175.5 | 175.4 | 175.4 | 177 | 175.5 | 177.2 | ||||||||||||
Potential number of shares issuable under the Company's LTSIP | — | 1.1 | 0.7 | 1.1 | 0.6 | 1.1 | ||||||||||||
Weighted-average diluted common shares outstanding | 175.5 | 176.5 | 176.1 | 178.1 | 176.1 | 178.3 | ||||||||||||
Asset_Retirement_Obligations_T
Asset Retirement Obligations (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Asset Retirement Obligation [Abstract] | ' | |||||||
Changes in AROs | ' | |||||||
Changes in Questar's AROs from the Condensed Consolidated Balance Sheets were as follows: | ||||||||
9 Months Ended | ||||||||
September 30, | ||||||||
2013 | 2012 | |||||||
(in millions) | ||||||||
AROs at beginning of year | $ | 67.2 | $ | 63.8 | ||||
Accretion | 2.4 | 2.3 | ||||||
Liabilities incurred | 4.2 | 2.2 | ||||||
Revisions in estimated cash flows | (6.8 | ) | (1.2 | ) | ||||
Liabilities settled | (1.1 | ) | (0.8 | ) | ||||
AROs at September 30, | $ | 65.9 | $ | 66.3 | ||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ||||||||||||||||||||||||
Fair Value, by Balance Sheet Grouping | ' | ||||||||||||||||||||||||
The following table discloses the carrying amount, estimated fair value and level within the fair value hierarchy of certain financial instruments not disclosed in other notes to Questar's financial statements in this Quarterly Report on Form 10-Q: | |||||||||||||||||||||||||
Hierarchy Level of Fair Value Estimates | Carrying | Estimated | Carrying | Estimated | Carrying | Estimated | |||||||||||||||||||
Amount | Fair Value | Amount | Fair Value | Amount | Fair Value | ||||||||||||||||||||
Sept. 30, 2013 | Sept. 30, 2012 | Dec. 31, 2012 | |||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Financial assets | |||||||||||||||||||||||||
Cash and cash equivalents | 1 | $ | — | $ | — | $ | — | $ | — | $ | 16.8 | $ | 16.8 | ||||||||||||
Long-term investment | 1 | 16.8 | 16.8 | 15 | 15 | 15.5 | 15.5 | ||||||||||||||||||
Financial liabilities | |||||||||||||||||||||||||
Checks outstanding in excess of cash balances | 1 | 1.6 | 1.6 | 5.4 | 5.4 | — | — | ||||||||||||||||||
Short-term debt | 1 | 355 | 355 | 263 | 263 | 263 | 263 | ||||||||||||||||||
Long-term debt, including current portion | 2 | 1,097.50 | 1,191.10 | 1,057.90 | 1,237.50 | 1,140.90 | 1,303.10 | ||||||||||||||||||
Questar Gas [Member] | ' | ||||||||||||||||||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ||||||||||||||||||||||||
Fair Value, by Balance Sheet Grouping | ' | ||||||||||||||||||||||||
The following table discloses the carrying amount, estimated fair value and level within the fair value hierarchy of certain financial instruments not disclosed in other notes to Questar Gas's financial statements in this Quarterly Report on Form 10-Q: | |||||||||||||||||||||||||
Hierarchy Level of Fair Value Estimates | Carrying | Estimated | Carrying | Estimated | Carrying | Estimated | |||||||||||||||||||
Amount | Fair Value | Amount | Fair Value | Amount | Fair Value | ||||||||||||||||||||
Sept. 30, 2013 | Sept. 30, 2012 | Dec. 31, 2012 | |||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Financial assets | |||||||||||||||||||||||||
Cash and cash equivalents | 1 | $ | — | $ | — | $ | — | $ | — | $ | 1.4 | $ | 1.4 | ||||||||||||
Financial liabilities | |||||||||||||||||||||||||
Checks outstanding in excess of cash balances | 1 | 1.4 | 1.4 | 2 | 2 | — | — | ||||||||||||||||||
Notes payable to Questar | 1 | 195 | 195 | 206.6 | 206.6 | 166.1 | 166.1 | ||||||||||||||||||
Long-term debt, including current portion | 2 | 384.5 | 425.6 | 343 | 426.3 | 426.5 | 503.7 | ||||||||||||||||||
Questar Pipeline [Member] | ' | ||||||||||||||||||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ||||||||||||||||||||||||
Fair Value, by Balance Sheet Grouping | ' | ||||||||||||||||||||||||
The following table discloses the carrying amount, estimated fair value and level within the fair value hierarchy of certain financial instruments not disclosed in other notes to Questar Pipeline's financial statements in this Quarterly Report on Form 10-Q: | |||||||||||||||||||||||||
Hierarchy Level of Fair Value Estimates | Carrying | Estimated | Carrying | Estimated | Carrying | Estimated | |||||||||||||||||||
Amount | Fair Value | Amount | Fair Value | Amount | Fair Value | ||||||||||||||||||||
Sept. 30, 2013 | Sept. 30, 2012 | Dec. 31, 2012 | |||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Financial assets | |||||||||||||||||||||||||
Cash and cash equivalents | 1 | $ | 1.5 | $ | 1.5 | $ | 0.4 | $ | 0.4 | $ | 7.1 | $ | 7.1 | ||||||||||||
Notes receivable from Questar | 1 | 36.6 | 36.6 | 42 | 42 | 38.7 | 38.7 | ||||||||||||||||||
Financial liabilities | |||||||||||||||||||||||||
Long-term debt | 2 | 458.8 | 505.5 | 458.9 | 547.8 | 458.9 | 536.6 | ||||||||||||||||||
Derivative_Instruments_and_Hed1
Derivative Instruments and Hedging Activities (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Derivative instruments on Consolidated Statements of Income and Accumulated Other Comprehensive Income | ' | ||||||||||||||||||||||||
The following table presents the pre-tax effects of the derivative instruments designated as a fair value hedge (including the hedged item) and cash flow hedges on the Consolidated Statements of Income as well as the pre-tax effects of the derivative instruments designated as cash flow hedges on OCI: | |||||||||||||||||||||||||
3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||||
Financial Statement Location of Gain (Loss) | September 30, | September 30, | September 30, | ||||||||||||||||||||||
Instrument and Activity | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Fair Value Hedge | |||||||||||||||||||||||||
Questar Corporation | |||||||||||||||||||||||||
Interest rate derivative instrument | |||||||||||||||||||||||||
Realized gain | Interest expense | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 0.7 | ||||||||||||
2.75% Notes due 2016 | |||||||||||||||||||||||||
Unrealized loss | Interest expense | — | — | — | — | — | (0.7 | ) | |||||||||||||||||
Cash Flow Hedges | |||||||||||||||||||||||||
Questar Pipeline | |||||||||||||||||||||||||
Interest rate derivative instruments | |||||||||||||||||||||||||
Deferrals of effective portions | OCI | — | — | — | — | — | (1.1 | ) | |||||||||||||||||
Losses reclassified from AOCI into earnings for effective portions | Interest expense | (0.1 | ) | (0.2 | ) | (0.4 | ) | (0.4 | ) | (0.4 | ) | (0.5 | ) |
ShareBased_Compensation_Tables
Share-Based Compensation (Tables) | 9 Months Ended | ||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||
Share-based Compensation [Abstract] | ' | ||||||||||||||||||||||
Transactions involving stock options under the terms of the LTSIP | ' | ||||||||||||||||||||||
Stock option transactions under the terms of the LTSIP are summarized below: | |||||||||||||||||||||||
Options | Exercise | Weighted-Average Exercise Price | |||||||||||||||||||||
Outstanding | Price Range | ||||||||||||||||||||||
Balance at December 31, 2012 | 770,923 | $ | 4.37 | - | $ | 17.35 | $ | 11.35 | |||||||||||||||
Exercised | (53,083 | ) | 4.37 | - | 13.1 | 4.75 | |||||||||||||||||
Balance at September 30, 2013 | 717,840 | $ | 7.84 | - | $ | 17.35 | $ | 11.84 | |||||||||||||||
Options held under the LTSIP, by exercise price range | ' | ||||||||||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||||||||
Range of exercise | Number outstanding at Sept. 30, 2013 | Weighted-average remaining term in years | Weighted-average exercise price | Number exercisable at Sept. 30, 2013 | Weighted-average exercise price | ||||||||||||||||||
prices | |||||||||||||||||||||||
$ | 7.84 | - | $ | 11.4 | 404,174 | 2.1 | $ | 10.52 | 404,174 | $ | 10.52 | ||||||||||||
13.1 | - | 17.35 | 313,666 | 2.8 | 13.54 | 313,666 | 13.54 | ||||||||||||||||
717,840 | 2.4 | $ | 11.84 | 717,840 | $ | 11.84 | |||||||||||||||||
Transactions involving restricted shares and RSUs under the terms of the LTSIP | ' | ||||||||||||||||||||||
Transactions involving RSUs under the terms of the LTSIP are summarized below: | |||||||||||||||||||||||
RSUs | Price Range | Weighted-Average Price | |||||||||||||||||||||
Outstanding | |||||||||||||||||||||||
Granted | 326,797 | $ | 22.17 | - | $ | 25.44 | $ | 23.63 | |||||||||||||||
Vested | (12,522 | ) | 23.62 | 23.62 | 23.62 | ||||||||||||||||||
Balance at September 30, 2013 | 314,275 | $ | 22.17 | - | $ | 25.44 | $ | 23.63 | |||||||||||||||
Transactions involving restricted shares under the terms of the LTSIP are summarized below: | |||||||||||||||||||||||
Restricted | Price Range | Weighted-Average Price | |||||||||||||||||||||
Shares | |||||||||||||||||||||||
Outstanding | |||||||||||||||||||||||
Balance at December 31, 2012 | 810,342 | $ | 13.1 | - | $ | 20.9 | $ | 17.74 | |||||||||||||||
Granted | 658 | 21.53 | 21.53 | 21.53 | |||||||||||||||||||
Vested | (417,882 | ) | 13.1 | - | 20.9 | 17.24 | |||||||||||||||||
Balance at September 30, 2013 | 393,118 | $ | 13.1 | - | $ | 21.53 | $ | 18.29 | |||||||||||||||
Transactions involving performance shares under the terms of the LTSIP | ' | ||||||||||||||||||||||
Performance share transactions under the terms of the LTSIP are summarized below: | |||||||||||||||||||||||
Target Number of Performance Shares Outstanding | Grant-Date | Weighted- Average Grant-Date Fair Value | |||||||||||||||||||||
Fair Value Range | |||||||||||||||||||||||
Balance at December 31, 2012 | 264,867 | $ | 18.23 | - | $ | 25.42 | $ | 21.94 | |||||||||||||||
Granted | 126,606 | 39.62 | 39.62 | 39.62 | |||||||||||||||||||
Forfeited | (3,594 | ) | 18.23 | - | 39.62 | 33.09 | |||||||||||||||||
Balance at September 30, 2013 | 387,879 | $ | 18.23 | - | $ | 39.62 | $ | 27.61 | |||||||||||||||
Operations_by_Line_of_Business1
Operations by Line of Business (Tables) | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||||||
Summary of continuing operations by line of business | ' | |||||||||||||||||||||||
Following is a summary of operations by line of business: | ||||||||||||||||||||||||
3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||
September 30, | September 30, | September 30, | ||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||
(in millions) | ||||||||||||||||||||||||
Revenues from Unaffiliated Customers | ||||||||||||||||||||||||
Questar Gas | $ | 89.4 | $ | 82.5 | $ | 647.8 | $ | 578.7 | $ | 928.8 | $ | 876.5 | ||||||||||||
Wexpro | 13.2 | 9.8 | 32 | 27.1 | 41 | 35.5 | ||||||||||||||||||
Questar Pipeline | 47 | 49.5 | 142.3 | 150.1 | 195.3 | 198.7 | ||||||||||||||||||
Total | $ | 149.6 | $ | 141.8 | $ | 822.1 | $ | 755.9 | $ | 1,165.10 | $ | 1,110.70 | ||||||||||||
Revenues from Affiliated Companies | ||||||||||||||||||||||||
Questar Gas | $ | 0.2 | $ | 0.5 | $ | 0.6 | $ | 2.3 | $ | 0.8 | $ | 3.4 | ||||||||||||
Wexpro | 68.1 | 69.3 | 215.2 | 204.6 | 284.7 | 271.8 | ||||||||||||||||||
Questar Pipeline | 17.6 | 18.4 | 54.8 | 55.2 | 74 | 73.8 | ||||||||||||||||||
Total | $ | 85.9 | $ | 88.2 | $ | 270.6 | $ | 262.1 | $ | 359.5 | $ | 349 | ||||||||||||
Operating Income (Loss) | ||||||||||||||||||||||||
Questar Gas | $ | (11.2 | ) | $ | (10.7 | ) | $ | 55.3 | $ | 52.6 | $ | 95.6 | $ | 90.1 | ||||||||||
Wexpro | 40.7 | 41 | 121.9 | 117.9 | 162.1 | 155.3 | ||||||||||||||||||
Questar Pipeline | (52.6 | ) | 32.6 | 5.7 | 95.2 | 34.5 | 126.2 | |||||||||||||||||
Corporate and other | 3.7 | 0.7 | 0.3 | 1.4 | (0.4 | ) | 2.1 | |||||||||||||||||
Total | $ | (19.4 | ) | $ | 63.6 | $ | 183.2 | $ | 267.1 | $ | 291.8 | $ | 373.7 | |||||||||||
Net Income (Loss) | ||||||||||||||||||||||||
Questar Gas | $ | (9.0 | ) | $ | (9.3 | ) | $ | 26.8 | $ | 23.3 | $ | 50.6 | $ | 43.5 | ||||||||||
Wexpro | 27.5 | 26.4 | 82.2 | 76.5 | 109.6 | 100.1 | ||||||||||||||||||
Questar Pipeline | (37.9 | ) | 17.1 | (7.6 | ) | 49.8 | 7.3 | 67 | ||||||||||||||||
Corporate and other | 0.2 | (0.4 | ) | (8.3 | ) | (1.4 | ) | (10.6 | ) | (0.8 | ) | |||||||||||||
Total | $ | (19.2 | ) | $ | 33.8 | $ | 93.1 | $ | 148.2 | $ | 156.9 | $ | 209.8 | |||||||||||
Employee_Benefits_Tables
Employee Benefits (Tables) | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | |||||||||||||||||||||||
Schedule of Defined Benefit Plans Disclosures | ' | |||||||||||||||||||||||
Net postretirement benefit cost components are listed in the table below: | ||||||||||||||||||||||||
3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||
September 30, | September 30, | September 30, | ||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||
(in millions) | ||||||||||||||||||||||||
Service cost | $ | 0.2 | $ | 0.2 | $ | 0.6 | $ | 0.5 | $ | 0.8 | $ | 0.5 | ||||||||||||
Interest cost | 0.9 | 1 | 2.8 | 2.8 | 3.8 | 3.7 | ||||||||||||||||||
Expected return on plan assets | (0.6 | ) | (0.6 | ) | (1.9 | ) | (1.7 | ) | (2.5 | ) | (2.3 | ) | ||||||||||||
Amortization of transition obligation | — | 0.4 | — | 1.2 | 0.4 | 1.8 | ||||||||||||||||||
Recognized net actuarial loss | 0.8 | 0.5 | 2.2 | 1.6 | 3.1 | 1.4 | ||||||||||||||||||
Accretion of regulatory liability | 0.1 | 0.1 | 0.5 | 0.5 | 0.3 | 0.6 | ||||||||||||||||||
Net postretirement benefit cost | $ | 1.4 | $ | 1.6 | $ | 4.2 | $ | 4.9 | $ | 5.9 | $ | 5.7 | ||||||||||||
Components of the qualified and nonqualified net pension cost included in the determination of net income (loss) are listed in the table below: | ||||||||||||||||||||||||
3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||
September 30, | September 30, | September 30, | ||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||
(in millions) | ||||||||||||||||||||||||
Service cost | $ | 3.2 | $ | 3.2 | $ | 10 | $ | 9.7 | $ | 13.5 | $ | 12.4 | ||||||||||||
Interest cost | 7.6 | 7.8 | 23.4 | 23.3 | 31.2 | 30.5 | ||||||||||||||||||
Expected return on plan assets | (9.5 | ) | (8.0 | ) | (28.6 | ) | (23.7 | ) | (36.7 | ) | (30.8 | ) | ||||||||||||
Prior service and other costs | 0.2 | 0.4 | 0.8 | 1.1 | 0.8 | 2.1 | ||||||||||||||||||
Recognized net actuarial loss | 8 | 5.4 | 21.7 | 16.2 | 30.4 | 20.5 | ||||||||||||||||||
Net pension cost | $ | 9.5 | $ | 8.8 | $ | 27.3 | $ | 26.6 | $ | 39.2 | $ | 34.7 | ||||||||||||
Wexpro_Acquisition_of_Producin1
Wexpro Acquisition of Producing Properties (Tables) | 9 Months Ended | |||
Sep. 30, 2013 | ||||
Wexpro Acquisition of Producing Properties [Abstract] | ' | |||
Summary information related to the Wexpro acquisition | ' | |||
Summary information related to the Trail acquisition is shown in the table below. Amounts are provisional and are subject to post-closing adjustments. | ||||
(in millions) | ||||
Fair value of consideration transferred: | ||||
Cash paid at closing | $ | 106.7 | ||
Recognized amounts of identifiable assets acquired and liabilities assumed, at fair value: | ||||
Proved properties | $ | 108.8 | ||
Asset retirement obligations | (2.1 | ) | ||
Total fair value of identifiable net assets acquired | $ | 106.7 | ||
Nature_of_Business_Details
Nature of Business (Details) | 9 Months Ended |
Sep. 30, 2013 | |
lines_of_business | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Number of principal complementary lines of business | 3 |
Basis_of_Presentation_of_Inter3
Basis of Presentation of Interim Financial Statements (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | ' | ' | ' | ' | ' |
Ownership percentage in unconsolidated affiliate (in hundredths) | 50.00% | ' | 50.00% | ' | 50.00% | ' |
Cost of Sales [Abstract] | ' | ' | ' | ' | ' | ' |
Total cost of sales | ($35) | ($42.10) | $157.40 | $99.10 | $250.60 | $209.50 |
Questar Gas [Member] | ' | ' | ' | ' | ' | ' |
Cost of Sales [Abstract] | ' | ' | ' | ' | ' | ' |
Gas purchases | 0.1 | 0 | 113.7 | 64.3 | 153.6 | 131.5 |
Operator service fee | 68.2 | 69.3 | 215.2 | 204.5 | 284.7 | 271.6 |
Transportation and storage | 18.5 | 19 | 58.6 | 58.5 | 79.7 | 78.6 |
Gathering | 4.5 | 4.8 | 13.6 | 16 | 18.1 | 22.3 |
Royalties | 11 | 7 | 32.4 | 23.4 | 41 | 34.3 |
Storage (injection) withdrawal, net | -37.3 | -29 | -18.1 | -18.1 | 1.9 | -8.8 |
Purchased-gas account adjustment | -15.9 | -27.6 | 5.1 | 4 | 17.2 | 17.1 |
Other | 1 | 1.2 | 3.7 | 3.8 | 4.9 | 5 |
Total Questar Gas cost of natural gas sold | 50.1 | 44.7 | 424.2 | 356.4 | 601.1 | 551.6 |
Elimination of Questar Gas cost of natural gas sold - affiliated parties | -85.6 | -87.5 | -269.5 | -259.2 | -358 | -344.8 |
Total Questar Gas cost of natural gas sold - unaffiliated parties | -35.5 | -42.8 | 154.7 | 97.2 | 243.1 | 206.8 |
Questar Pipeline [Member] | ' | ' | ' | ' | ' | ' |
Cost of Sales [Abstract] | ' | ' | ' | ' | ' | ' |
Total Questar Pipeline cost of sales | $0.50 | $0.70 | $2.70 | $1.90 | $7.50 | $2.70 |
Comprehensive_Income_Details
Comprehensive Income (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | ' | ' | ' | ' | ' | ||
AOCI at beginning of period | ($236.40) | ' | ($246.30) | ' | ($213.70) | ' | ||
OCI before reclassifications | 0 | ' | -0.1 | ' | ' | ' | ||
Reclassified from AOCI | 9.1 | [1] | ' | 25.1 | [1] | ' | ' | ' |
Income taxes | ' | ' | ' | ' | ' | ' | ||
Attributable to OCI before reclassifications | 0 | ' | 0.1 | ' | ' | ' | ||
Attributable to amounts reclassified from AOCI | -3.4 | [2] | ' | -9.5 | [2] | ' | ' | ' |
Total income taxes | -3.4 | -2.8 | -9.4 | -7.9 | 10.8 | 57.7 | ||
Net other comprehensive income (loss) | 5.7 | 4.1 | 15.6 | 12.4 | -17 | -93.4 | ||
AOCI at September 30, 2013 | -230.7 | -213.7 | -230.7 | -213.7 | -230.7 | -213.7 | ||
Reclassification Adjustment out of Accumulated Other Comphrensive Income [Abstract] | ' | ' | ' | ' | ' | ' | ||
Income tax benefit (expense) | 10.1 | -18 | -59.4 | -83.1 | -92.8 | -117.8 | ||
Pension and OPRB | ' | ' | ' | ' | ' | ' | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | ' | ' | ' | ' | ' | ||
AOCI at beginning of period | -213.5 | ' | -223.2 | ' | ' | ' | ||
OCI before reclassifications | 0 | ' | 0 | ' | ' | ' | ||
Reclassified from AOCI | 9 | [1] | ' | 24.7 | [1] | ' | ' | ' |
Income taxes | ' | ' | ' | ' | ' | ' | ||
Attributable to OCI before reclassifications | 0 | ' | 0 | ' | ' | ' | ||
Attributable to amounts reclassified from AOCI | -3.4 | [2] | ' | -9.4 | [2] | ' | ' | ' |
Total income taxes | -3.4 | ' | -9.4 | ' | ' | ' | ||
Net other comprehensive income (loss) | 5.6 | ' | 15.3 | ' | ' | ' | ||
AOCI at September 30, 2013 | -207.9 | ' | -207.9 | ' | -207.9 | ' | ||
Long-term invest. | ' | ' | ' | ' | ' | ' | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | ' | ' | ' | ' | ' | ||
AOCI at beginning of period | 0.1 | ' | 0.1 | ' | ' | ' | ||
OCI before reclassifications | 0 | ' | -0.1 | ' | ' | ' | ||
Reclassified from AOCI | 0 | [1] | ' | 0 | [1] | ' | ' | ' |
Income taxes | ' | ' | ' | ' | ' | ' | ||
Attributable to OCI before reclassifications | 0 | ' | 0.1 | ' | ' | ' | ||
Attributable to amounts reclassified from AOCI | 0 | [2] | ' | 0 | [2] | ' | ' | ' |
Total income taxes | 0 | ' | 0.1 | ' | ' | ' | ||
Net other comprehensive income (loss) | 0 | ' | 0 | ' | ' | ' | ||
AOCI at September 30, 2013 | 0.1 | ' | 0.1 | ' | 0.1 | ' | ||
Questar Pipeline [Member] | ' | ' | ' | ' | ' | ' | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | ' | ' | ' | ' | ' | ||
AOCI at beginning of period | ' | ' | -23.2 | ' | -23.2 | ' | ||
Income taxes | ' | ' | ' | ' | ' | ' | ||
Total income taxes | 0 | -0.1 | -0.1 | -0.2 | -0.1 | 0.2 | ||
Net other comprehensive income (loss) | 0.1 | 0.1 | 0.3 | 0.2 | 0.3 | -0.4 | ||
AOCI at September 30, 2013 | -22.9 | -23.2 | -22.9 | -23.2 | -22.9 | -23.2 | ||
Reclassification Adjustment out of Accumulated Other Comphrensive Income [Abstract] | ' | ' | ' | ' | ' | ' | ||
Income tax benefit (expense) | 19.7 | -9.9 | 2.2 | -28.7 | -6.4 | -38.1 | ||
Questar Pipeline [Member] | Interest rate cash flow hedges | ' | ' | ' | ' | ' | ' | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | ' | ' | ' | ' | ' | ||
AOCI at beginning of period | -23 | ' | -23.2 | ' | ' | ' | ||
OCI before reclassifications | 0 | ' | 0 | ' | ' | ' | ||
Reclassified from AOCI | 0.1 | [1] | ' | 0.4 | [1] | ' | ' | ' |
Income taxes | ' | ' | ' | ' | ' | ' | ||
Attributable to OCI before reclassifications | 0 | ' | 0 | ' | ' | ' | ||
Attributable to amounts reclassified from AOCI | 0 | [2] | ' | -0.1 | [2] | ' | ' | ' |
Total income taxes | 0 | ' | -0.1 | ' | ' | ' | ||
Net other comprehensive income (loss) | 0.1 | ' | 0.3 | ' | ' | ' | ||
AOCI at September 30, 2013 | -22.9 | ' | -22.9 | ' | -22.9 | ' | ||
Questar Pipeline [Member] | Interest rate cash flow hedges | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' | ' | ' | ||
Reclassification Adjustment out of Accumulated Other Comphrensive Income [Abstract] | ' | ' | ' | ' | ' | ' | ||
Interest (expense) | -0.1 | ' | -0.4 | ' | ' | ' | ||
Income tax benefit (expense) | $0 | ' | $0.10 | ' | ' | ' | ||
[1] | Interest rate cash flow hedge amounts are included in their entirety as charges to interest expense on the Consolidated Statements of Income. | |||||||
[2] | Interest rate cash flow hedge amounts are included in their entirety as credits to income taxes on the Consolidated Statements of Income. |
Earnings_Per_Share_Details
Earnings Per Share (Details) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Earnings Per Share [Abstract] | ' | ' | ' | ' | ' | ' |
Weighted-average basic common shares outstanding (in shares) | 175.5 | 175.4 | 175.4 | 177 | 175.5 | 177.2 |
Potential number of shares issuable under the Company's LTSIP (in shares) | 0 | 1.1 | 0.7 | 1.1 | 0.6 | 1.1 |
Weighted-average diluted common shares outstanding (in shares) | 175.5 | 176.5 | 176.1 | 178.1 | 176.1 | 178.3 |
Asset_Retirement_Obligations_D
Asset Retirement Obligations (Details) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ' | ' |
AROs at beginning of year | $67.20 | $63.80 |
Accretion | 2.4 | 2.3 |
Liabilities incurred | 4.2 | 2.2 |
Revisions in estimated cash flows | -6.8 | -1.2 |
Liabilities settled | -1.1 | -0.8 |
AROs at September 30, | $65.90 | $66.30 |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Millions, unless otherwise specified | |||
Carrying Amount [Member] | ' | ' | ' |
Financial assets [Abstract] | ' | ' | ' |
Cash and cash equivalents | $0 | $16.80 | $0 |
Long-term investment | 16.8 | 15.5 | 15 |
Financial liabilities [Abstract] | ' | ' | ' |
Checks outstanding in excess of cash balances | 1.6 | 0 | 5.4 |
Short-term debt | 355 | 263 | 263 |
Long-term debt, including current portion | 1,097.50 | 1,140.90 | 1,057.90 |
Estimated Fair Value [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' | ' |
Financial assets [Abstract] | ' | ' | ' |
Cash and cash equivalents | 0 | 16.8 | 0 |
Financial liabilities [Abstract] | ' | ' | ' |
Checks outstanding in excess of cash balances | 1.6 | 0 | 5.4 |
Short-term debt | 355 | 263 | 263 |
Estimated Fair Value [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' | ' |
Financial liabilities [Abstract] | ' | ' | ' |
Long-term debt, including current portion | 1,191.10 | 1,303.10 | 1,237.50 |
Estimated Fair Value [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' | ' |
Financial assets [Abstract] | ' | ' | ' |
Long-term investment | 16.8 | 15.5 | 15 |
Questar Gas [Member] | Carrying Amount [Member] | ' | ' | ' |
Financial assets [Abstract] | ' | ' | ' |
Cash and cash equivalents | 0 | 1.4 | 0 |
Financial liabilities [Abstract] | ' | ' | ' |
Checks outstanding in excess of cash balances | 1.4 | 0 | 2 |
Notes payable to Questar | 195 | 166.1 | 206.6 |
Long-term debt, including current portion | 384.5 | 426.5 | 343 |
Questar Gas [Member] | Estimated Fair Value [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' | ' |
Financial assets [Abstract] | ' | ' | ' |
Cash and cash equivalents | 0 | 1.4 | 0 |
Financial liabilities [Abstract] | ' | ' | ' |
Checks outstanding in excess of cash balances | 1.4 | 0 | 2 |
Notes payable to Questar | 195 | 166.1 | 206.6 |
Questar Gas [Member] | Estimated Fair Value [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' | ' |
Financial liabilities [Abstract] | ' | ' | ' |
Long-term debt, including current portion | 425.6 | 503.7 | 426.3 |
Questar Pipeline [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' | ' |
Financial liabilities [Abstract] | ' | ' | ' |
Property, Plant, and Equipment, Fair Value Disclosure | 0 | ' | ' |
Questar Pipeline [Member] | Carrying Amount [Member] | ' | ' | ' |
Financial assets [Abstract] | ' | ' | ' |
Cash and cash equivalents | 1.5 | 7.1 | 0.4 |
Notes receivable from Questar | 36.6 | 38.7 | 42 |
Financial liabilities [Abstract] | ' | ' | ' |
Long-term debt, including current portion | 458.8 | 458.9 | 458.9 |
Questar Pipeline [Member] | Estimated Fair Value [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' | ' |
Financial assets [Abstract] | ' | ' | ' |
Cash and cash equivalents | 1.5 | 7.1 | 0.4 |
Notes receivable from Questar | 36.6 | 38.7 | 42 |
Questar Pipeline [Member] | Estimated Fair Value [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' | ' |
Financial liabilities [Abstract] | ' | ' | ' |
Long-term debt, including current portion | $505.50 | $536.60 | $547.80 |
Derivative_Instruments_and_Hed2
Derivative Instruments and Hedging Activities Effects on Statements of Income and OCI (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Fair Value Hedging [Member] | Interest Rate Derivative Instruments [Member] | Interest Expense [Member] | ' | ' | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ' | ' |
Realized gain | $0 | $0 | $0 | $0 | $0 | $0.70 |
Fair Value Hedging [Member] | Notes Due 2016, 2.75% [Member] | Interest Expense [Member] | ' | ' | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ' | ' |
Unrealized loss | 0 | 0 | 0 | 0 | 0 | -0.7 |
Questar Pipeline [Member] | Cash Flow Hedging [Member] | Interest Rate Derivative Instruments [Member] | Other Comprehensive Income [Member] | ' | ' | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ' | ' |
Deferrals of effective portions | 0 | 0 | 0 | 0 | 0 | -1.1 |
Questar Pipeline [Member] | Cash Flow Hedging [Member] | Interest Rate Derivative Instruments [Member] | Interest Expense [Member] | ' | ' | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ' | ' |
Losses reclassified from AOCI into earnings for effective portions | ($0.10) | ($0.20) | ($0.40) | ($0.40) | ($0.40) | ($0.50) |
Derivative_Instruments_and_Hed3
Derivative Instruments and Hedging Activities Additional Information (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2011 | Mar. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Jun. 30, 2011 | |
Cash Flow Hedging [Member] | Cash Flow Hedging [Member] | Cash Flow Hedging [Member] | Cash Flow Hedging [Member] | Cash Flow Hedging [Member] | Cash Flow Hedging [Member] | Cash Flow Hedging [Member] | Fair Value Hedging [Member] | Fair Value Hedging [Member] | Fair Value Hedging [Member] | Fair Value Hedging [Member] | Fair Value Hedging [Member] | Fair Value Hedging [Member] | Fair Value Hedging [Member] | Fair Value Hedging [Member] | |
Questar Pipeline [Member] | Questar Pipeline [Member] | Questar Pipeline [Member] | Questar Pipeline [Member] | Questar Pipeline [Member] | Questar Pipeline [Member] | Questar Pipeline [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | |
Forward Starting Interest Rate Swaps Terminating Q4 2011 [Member] | Forward Starting Interest Rate Swaps Terminating Q4 2011 [Member] | Forward Starting Interest Rate Swaps Terminating Q4 2011 [Member] | Forward Starting Interest Rate Swaps Terminating Q4 2011 [Member] | Forward Starting Interest Rate Swaps Terminating Q4 2011 [Member] | Forward Starting Interest Rate Swaps Terminating Q4 2011 [Member] | Forward Starting Interest Rate Swaps Terminating Q4 2011 [Member] | |||||||||
Derivative [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notional amount | ' | ' | ' | ' | ' | ' | $150,000,000 | ' | ' | ' | ' | ' | ' | ' | $125,000,000 |
Weighted-average fixed interest rate (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.75% |
Derivative, gain on derivative | ' | ' | ' | ' | ' | ' | ' | 7,200,000 | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Face Amount | ' | ' | ' | ' | ' | ' | 180,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Interest payment for terminated derivative instrument | ' | ' | ' | ' | ' | ' | 37,300,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Life of long-term debt associated with cash flow hedges | ' | ' | ' | ' | ' | ' | '30 years | ' | ' | ' | ' | ' | ' | ' | ' |
Ineffectiveness recognized on the fair value hedge | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | 0 | 0 | 0 | ' |
Ineffectiveness recognized on cash flow hedges | 0 | 0 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Rate Cash Flow Hedge Ineffectiveness is Immaterial | ' | ' | ' | ' | ' | 'Ineffectiveness recognized on the cash flow hedges was de minimis | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Pre-tax net losses expected to be reclassified from AOCI to Consolidated statement of income | ' | ' | $500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reclassification from accumulated OCI to income, estimated time to transfer | ' | ' | '12 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
ShareBased_Compensation_Genera
Share-Based Compensation General (Details) (USD $) | 9 Months Ended | |
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Share-based Compensation [Abstract] | ' | ' |
Share-based compensation | $7.70 | $7.50 |
Deferred share-based compensation on restricted share awards and restricted stock unit awards | 6.5 | ' |
Cash flow from income tax benefits in excess of recognized compensation expense | $1.50 | $8.10 |
Shares available for future grant (in shares) | 5,577,106 | ' |
ShareBased_Compensation_Stock_
Share-Based Compensation Stock options (Details) (Stock Options [Member], USD $) | 9 Months Ended |
Sep. 30, 2013 | |
Stock option transactions under the terms of the LTSIP - shares [Roll Forward] | ' |
Balance at December 31, 2012 | 770,923 |
Granted | 0 |
Exercised | -53,083 |
Balance at September 30, 2013 | 717,840 |
Stock option transactions under the terms of the LTSIP - exercise price [Roll Forward] | ' |
Balance at December 31, 2012 | $11.35 |
Exercised | $4.75 |
Balance at September 30, 2013 | $11.84 |
Stock options outstanding, exercisable and unvested at end of period, by exercise price range [Abstract] | ' |
Options Outstanding, Number outstanding at end of period | 717,840 |
Options Outstanding, Weighted-average remaining term (in years and months) | '2 years 5 months |
Options Exercisable, Number exercisable at end of period | 717,840 |
Options Exercisable, Weighted-average exercise price | $11.84 |
Stock options, additional disclosures [Abstract] | ' |
Unvested stock options decrease in period (in shares) | 29,398 |
Number of unvested options at end of period (in shares) | 0 |
$7.84 - $11.40 [Member] | ' |
Stock option transactions under the terms of the LTSIP - exercise price [Roll Forward] | ' |
Balance at September 30, 2013 | $10.52 |
Stock options outstanding, exercisable and unvested at end of period, by exercise price range [Abstract] | ' |
Range of exercise prices, lower limit | $7.84 |
Range of exercise prices, upper limit | $11.40 |
Options Outstanding, Number outstanding at end of period | 404,174 |
Options Outstanding, Weighted-average remaining term (in years and months) | '2 years 1 month |
Options Exercisable, Number exercisable at end of period | 404,174 |
Options Exercisable, Weighted-average exercise price | $10.52 |
$13.10 - $17.35 [Member] | ' |
Stock option transactions under the terms of the LTSIP - exercise price [Roll Forward] | ' |
Balance at September 30, 2013 | $13.54 |
Stock options outstanding, exercisable and unvested at end of period, by exercise price range [Abstract] | ' |
Range of exercise prices, lower limit | $13.10 |
Range of exercise prices, upper limit | $17.35 |
Options Outstanding, Number outstanding at end of period | 313,666 |
Options Outstanding, Weighted-average remaining term (in years and months) | '2 years 9 months |
Options Exercisable, Number exercisable at end of period | 313,666 |
Options Exercisable, Weighted-average exercise price | $13.54 |
Minimum [Member] | ' |
Stock option transactions under the terms of the LTSIP - exercise price [Roll Forward] | ' |
Balance at December 31, 2012 | $4.37 |
Exercised | $4.37 |
Balance at September 30, 2013 | $7.84 |
Maximum [Member] | ' |
Stock option transactions under the terms of the LTSIP - exercise price [Roll Forward] | ' |
Balance at December 31, 2012 | $17.35 |
Exercised | $13.10 |
Balance at September 30, 2013 | $17.35 |
ShareBased_Compensation_Restri
Share-Based Compensation Restricted shares (Details) (Restricted Shares [Member], USD $) | 9 Months Ended |
Sep. 30, 2013 | |
Transactions under the terms of the LTSIP - shares [Roll Forward] | ' |
Balance at December 31, 2012 | 810,342 |
Granted | 658 |
Vested | -417,882 |
Balance at September 30, 2013 | 393,118 |
Transactions under the terms of LTSIP - grant-date fair value [Roll Forward] | ' |
Balance at December 31, 2012 | $17.74 |
Granted | $21.53 |
Vested | $17.24 |
Balance at September 30, 2013 | $18.29 |
Share-based awards other than options, additional disclosures [Abstract] | ' |
Weighted-average remaining vesting period of share-based awards (in months) | '11 months |
Minimum [Member] | ' |
Transactions under the terms of LTSIP - grant-date fair value [Roll Forward] | ' |
Balance at December 31, 2012 | $13.10 |
Granted | $21.53 |
Vested | $13.10 |
Balance at September 30, 2013 | $13.10 |
Share-based awards other than options, additional disclosures [Abstract] | ' |
Vesting period for share-based award (in years) | '3 years |
Maximum [Member] | ' |
Transactions under the terms of LTSIP - grant-date fair value [Roll Forward] | ' |
Balance at December 31, 2012 | $20.90 |
Granted | $21.53 |
Vested | $20.90 |
Balance at September 30, 2013 | $21.53 |
Share-based awards other than options, additional disclosures [Abstract] | ' |
Vesting period for share-based award (in years) | '4 years |
ShareBased_Compensation_Restri1
Share-Based Compensation Restricted stock units (Details) (USD $) | 9 Months Ended |
Sep. 30, 2013 | |
Restricted Stock Units (RSUs) [Member] | ' |
Transactions under the terms of the LTSIP - shares [Roll Forward] | ' |
Granted | 326,797 |
Vested | -12,522 |
Balance at September 30, 2013 | 314,275 |
Transactions under the terms of LTSIP - grant-date fair value [Roll Forward] | ' |
Granted | $23.63 |
Vested | $23.62 |
Balance at September 30, 2013 | $23.63 |
Share-based awards other than options, additional disclosures [Abstract] | ' |
Vesting period for share-based award (in years) | '3 years |
Weighted-average remaining vesting period of share-based awards (in months) | '17 months |
Number of shares of common stock to be issued for each vested restricted stock unit (RSU) | 1 |
Deferred Restricted Stock Units (RSUs) [Member] | ' |
Transactions under the terms of LTSIP - grant-date fair value [Roll Forward] | ' |
Granted | $15.67 |
Share-based awards other than options, additional disclosures [Abstract] | ' |
Vesting period for share-based award (in years) | '3 years |
Number of deferred restricted stock units issued (in shares) | 73,071 |
Number of shares of common stock to be issued for each vested restricted stock unit (RSU) | 1 |
Minimum [Member] | Restricted Stock Units (RSUs) [Member] | ' |
Transactions under the terms of LTSIP - grant-date fair value [Roll Forward] | ' |
Granted | $22.17 |
Vested | $23.62 |
Balance at September 30, 2013 | $22.17 |
Maximum [Member] | Restricted Stock Units (RSUs) [Member] | ' |
Transactions under the terms of LTSIP - grant-date fair value [Roll Forward] | ' |
Granted | $25.44 |
Vested | $23.62 |
Balance at September 30, 2013 | $25.44 |
ShareBased_Compensation_Perfor
Share-Based Compensation Performance shares (Details) (Performance Shares [Member], USD $) | 9 Months Ended | |
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Transactions under the terms of the LTSIP - shares [Roll Forward] | ' | ' |
Balance at December 31, 2012 | 264,867 | ' |
Granted | 126,606 | ' |
Forfeited | -3,594 | ' |
Balance at September 30, 2013 | 387,879 | ' |
Transactions under the terms of LTSIP - grant-date fair value [Roll Forward] | ' | ' |
Balance at December 31, 2012 | $21.94 | ' |
Granted | $39.62 | ' |
Forfeited | $33.09 | ' |
Balance at September 30, 2013 | $27.61 | ' |
Share-based awards other than options, additional disclosures [Abstract] | ' | ' |
Performance period that the target number of performance shares for each exectutive officer is subject to adjustment based on the company's performance (in years) | '3 years | ' |
Equity- and liability-based performance share compensation expense | $1.20 | $1.40 |
Weighted-average remaining vesting period of share-based awards (in months) | '15 months | ' |
Vested Undistributed [Member] | ' | ' |
Transactions under the terms of the LTSIP - shares [Roll Forward] | ' | ' |
Balance at September 30, 2013 | 5,330 | ' |
Transactions under the terms of LTSIP - grant-date fair value [Roll Forward] | ' | ' |
Balance at September 30, 2013 | $23.39 | ' |
Minimum [Member] | ' | ' |
Transactions under the terms of LTSIP - grant-date fair value [Roll Forward] | ' | ' |
Balance at December 31, 2012 | $18.23 | ' |
Granted | $39.62 | ' |
Forfeited | $18.23 | ' |
Balance at September 30, 2013 | $18.23 | ' |
Minimum [Member] | Vested Undistributed [Member] | ' | ' |
Share-based awards other than options, additional disclosures [Abstract] | ' | ' |
The date the actual performance shares (if any) will be distributed | 'first quarter of 2014 | ' |
Maximum [Member] | ' | ' |
Transactions under the terms of LTSIP - grant-date fair value [Roll Forward] | ' | ' |
Balance at December 31, 2012 | $25.42 | ' |
Granted | $39.62 | ' |
Forfeited | $39.62 | ' |
Balance at September 30, 2013 | $39.62 | ' |
Maximum [Member] | Vested Undistributed [Member] | ' | ' |
Share-based awards other than options, additional disclosures [Abstract] | ' | ' |
The date the actual performance shares (if any) will be distributed | 'first quarter of 2016 | ' |
Operations_by_Line_of_Business2
Operations by Line of Business (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
lines_of_business | ||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' |
Number of principal complementary lines of business | ' | ' | 3 | ' | ' | ' |
Revenues from Unaffiliated Customers | $149.60 | $141.80 | $822.10 | $755.90 | $1,165.10 | $1,110.70 |
Operating Income (Loss) | -19.4 | 63.6 | 183.2 | 267.1 | 291.8 | 373.7 |
Net Income (Loss) | -19.2 | 33.8 | 93.1 | 148.2 | 156.9 | 209.8 |
Questar Gas [Member] | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' |
Revenues from Unaffiliated Customers | 89.4 | 82.5 | 647.8 | 578.7 | 928.8 | 876.5 |
Operating Income (Loss) | -11.2 | -10.7 | 55.3 | 52.6 | 95.6 | 90.1 |
Net Income (Loss) | -9 | -9.3 | 26.8 | 23.3 | 50.6 | 43.5 |
Wexpro [Member] | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' |
Revenues from Unaffiliated Customers | 13.2 | 9.8 | 32 | 27.1 | 41 | 35.5 |
Operating Income (Loss) | 40.7 | 41 | 121.9 | 117.9 | 162.1 | 155.3 |
Net Income (Loss) | 27.5 | 26.4 | 82.2 | 76.5 | 109.6 | 100.1 |
Questar Pipeline [Member] | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' |
Revenues from Unaffiliated Customers | 47 | 49.5 | 142.3 | 150.1 | 195.3 | 198.7 |
Operating Income (Loss) | -52.6 | 32.6 | 5.7 | 95.2 | 34.5 | 126.2 |
Net Income (Loss) | -37.9 | 17.1 | -7.6 | 49.8 | 7.3 | 67 |
Questar Corp and Other [Member] | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' |
Operating Income (Loss) | 3.7 | 0.7 | 0.3 | 1.4 | -0.4 | 2.1 |
Net Income (Loss) | 0.2 | -0.4 | -8.3 | -1.4 | -10.6 | -0.8 |
Intersegment Eliminations [Member] | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' |
Revenues from Unaffiliated Customers | 85.9 | 88.2 | 270.6 | 262.1 | 359.5 | 349 |
Intersegment Eliminations [Member] | Questar Gas [Member] | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' |
Revenues from Unaffiliated Customers | 0.2 | 0.5 | 0.6 | 2.3 | 0.8 | 3.4 |
Intersegment Eliminations [Member] | Wexpro [Member] | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' |
Revenues from Unaffiliated Customers | 68.1 | 69.3 | 215.2 | 204.6 | 284.7 | 271.8 |
Intersegment Eliminations [Member] | Questar Pipeline [Member] | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' |
Revenues from Unaffiliated Customers | $17.60 | $18.40 | $54.80 | $55.20 | $74 | $73.80 |
Employee_Benefits_Details
Employee Benefits (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Qualified and nonqualified pension plans [Member] | ' | ' | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' |
Service cost | $3.20 | $3.20 | $10 | $9.70 | $13.50 | $12.40 |
Interest cost | 7.6 | 7.8 | 23.4 | 23.3 | 31.2 | 30.5 |
Expected return on plan assets | -9.5 | -8 | -28.6 | -23.7 | -36.7 | -30.8 |
Prior service and other costs | 0.2 | 0.4 | 0.8 | 1.1 | 0.8 | 2.1 |
Recognized net actuarial loss | 8 | 5.4 | 21.7 | 16.2 | 30.4 | 20.5 |
Net benefit cost | 9.5 | 8.8 | 27.3 | 26.6 | 39.2 | 34.7 |
Estimated qualified pension plan cost for current fiscal year | 32 | ' | 32 | ' | 32 | ' |
Estimated nonqualified pension plan cost for current fiscal year | 4.3 | ' | 4.3 | ' | 4.3 | ' |
Postretirement benefits plan [Member] | ' | ' | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' |
Service cost | 0.2 | 0.2 | 0.6 | 0.5 | 0.8 | 0.5 |
Interest cost | 0.9 | 1 | 2.8 | 2.8 | 3.8 | 3.7 |
Expected return on plan assets | -0.6 | -0.6 | -1.9 | -1.7 | -2.5 | -2.3 |
Amortization of transition obligation | 0 | 0.4 | 0 | 1.2 | 0.4 | 1.8 |
Recognized net actuarial loss | 0.8 | 0.5 | 2.2 | 1.6 | 3.1 | 1.4 |
Accretion of regulatory liability | 0.1 | 0.1 | 0.5 | 0.5 | 0.3 | 0.6 |
Net benefit cost | 1.4 | 1.6 | 4.2 | 4.9 | 5.9 | 5.7 |
Estimated postretirement benefits cost for current fiscal year, before accretion of regulatory liability | $5 | ' | $5 | ' | $5 | ' |
Debt_Details
Debt (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Mar. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
Revolving credit facility [Member] | Revolving credit facility [Member] | Commercial paper [Member] | Commercial paper [Member] | Commercial paper [Member] | Questar Gas [Member] | Questar Gas [Member] | Questar Gas [Member] | ||||
4.78% and 4.83% Notes due 2043 and 2048 [Member] | 4.78% Notes due 2043 [Member] | 4.83% Notes due 2048 [Member] | |||||||||
Short-term Debt [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | ' | ' | ' | $500,000,000 | $750,000,000 | ' | ' | ' | ' | ' | ' |
Debt Instrument Maturity Dates | ' | ' | ' | '8/31/2016 | '4/19/2018 | ' | ' | ' | ' | ' | ' |
Consolidated Funded Debt Percentage Of Consolidated Capital Permitted Under Credit Arrangement Amendment | ' | ' | ' | ' | 70.00% | ' | ' | ' | ' | ' | ' |
Amounts borrowed under short-term financing arrangements | 355,000,000 | 263,000,000 | 263,000,000 | ' | 0 | 355,000,000 | 263,000,000 | 263,000,000 | ' | ' | ' |
Questar Gas Long-term Debt Commitment [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Face Amount | ' | ' | ' | ' | ' | ' | ' | ' | $150,000,000 | $90,000,000 | $60,000,000 |
Funding Date of Long-term Debt | ' | ' | ' | ' | ' | ' | ' | ' | 'December 2013 | ' | ' |
Long-term Debt, Life (in years) | ' | ' | ' | ' | ' | ' | ' | ' | ' | '30 years | '35 years |
Debt Instrument, Interest Rate, Stated Percentage (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.78% | 4.83% |
Strategic_Review_of_Questar_So1
Strategic Review of Questar Southern Trails Pipeline and Impairment of Eastern Segment (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Net book value of Questar Southern Trails Pipeline | $3,495 | $3,261.20 | $3,495 | $3,261.20 | $3,495 | $3,261.20 | $3,317 |
Pre-tax asset impairment charge | 80.6 | 0 | 80.6 | 0 | 80.6 | 0 | ' |
Questar Pipeline [Member] | ' | ' | ' | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Net book value of Questar Southern Trails Pipeline | 1,148.30 | 1,203.20 | 1,148.30 | 1,203.20 | 1,148.30 | 1,203.20 | 1,210.80 |
Pre-tax asset impairment charge | 80.6 | 0 | 80.6 | 0 | 80.6 | 0 | ' |
Questar Pipeline [Member] | Questar Southern Trails Pipeline - Western Segment [Member] | ' | ' | ' | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Net book value of Questar Southern Trails Pipeline | 21 | ' | 21 | ' | 21 | ' | ' |
Questar Pipeline [Member] | Questar Southern Trails Pipeline - Eastern Segment [Member] | ' | ' | ' | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Pre-tax asset impairment charge | ' | ' | 80.6 | ' | ' | ' | ' |
After-tax asset impairment charge | ' | ' | $52.40 | ' | ' | ' | ' |
Wexpro_Acquisition_of_Producin2
Wexpro Acquisition of Producing Properties (Details) (USD $) | 3 Months Ended | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 |
Business Acquisition [Line Items] | ' | ' |
Business Acquisition, Effective Date of Acquisition | 4-Sep-13 | ' |
Business Acquisition, Date of Acquisition Agreement | 25-Jul-13 | ' |
Business Acquisition, Description of Acquired Entity | 'an additional interest in natural gas-producing properties in the Trail Unit of southwestern Wyoming's Vermillion Basin | ' |
Business Combination, Consideration Transferred [Abstract] | ' | ' |
Cash paid at closing | $106.70 | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract] | ' | ' |
Proved properties | 108.8 | 108.8 |
Asset retirement obligations | -2.1 | -2.1 |
Total fair value of identifiable net assets acquired | 106.7 | 106.7 |
Business Acquisition, Income Information [Abstract] | ' | ' |
Revenue of Acquiree since Acquisition Date, Actual | 1.5 | ' |
Earnings or Loss of Acquiree since Acquisition Date, Actual | 0.3 | ' |
Business Combination, Separately recognized Transactions, Additional Disclosures [Abstract] | ' | ' |
Acquisition Cost Expensed | ' | $0.20 |
Acquisition Cost Expensed, Financial Statement Caption | ' | 'general and administrative expense |